Iraq Reimposes Vehicle Tariffs, Sparks Price Hikes
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Reimposes Vehicle Tariffs, Sparks Price Hikes Across Markets The enforcement of customs tariffs has led to immediate price adjustments in the automotive sector, broader market uncertainty, and calls from merchants for consumer support […]
MoneyHash Partners with Wayl to Enter Iraqi Payments Market
By John Lee. MoneyHash has announced a partnership with Wayl to support international and regional businesses expanding into Iraq's payments and e-commerce market. Under the agreement, MoneyHash will extend its payment orchestration services into Iraq by integrating Wayl's local payment infrastructure, enabling merchants to navigate domestic payment requirements and operational frameworks. Through the partnership, merchants […]
KBR Wins Majnoon Oilfield Management Contract
By John Lee. US-based KBR has been awarded a major contract by Basra Oil Company (BOC) to provide Integrated Field Management Services (IFMS) for the Majnoon oil field in southern Iraq. Majnoon is one of the world's largest oil fields, with estimated reserves of more than 38 billion barrels. Under the IFMS contract, KBR will deliver: […]
Chevron Signs Agreements for West Qurna 2, and Additional Fields
By John Lee. Preliminary principles agreements have been signed covering the transfer and development of several oil fields in southern and central Iraq. The first agreement was signed between Basra Oil Company (BOC) and US oil major Chevron for the transfer of management of the West Qurna 2 field. A second agreement was signed between […]
Iraq Deposits Maritime Zones Map; Kuwait Lodges Protest
By John Lee. The General Company for Ports of Iraq (GCPI) has confirmed that Iraq has formally deposited its maritime zones map and associated coordinates with the United Nations (UN), in a move aimed at consolidating its maritime rights and strengthening its legal position in boundary matters. Director General Dr Farhan Al-Fartousi said the deposit […]
Maliki Confirms PM Bid; Says Backs Civilian Govt
By John Lee. Nouri Al-Maliki (pictured), head of the State of Law Coalition, has confirmed that he will not withdraw his candidacy for the post of Prime Minister, in remarks to Agence France-Presse (AFP) on Monday. He said that any US messages are directed to the Iraqi state rather than to him personally, and rejected […]
Central Bank of Iraq Warns of Currency-Related Fraud Schemes
By John Lee. The Central Bank of Iraq (CBI) has warned citizens of fraudulent schemes involving counterfeit and non-circulating banknotes designed to defraud victims for financial gain. In a statement, the CBI outlined several common methods currently observed in Iraq: "$1,000,000" banknotes sold as legal tender, despite being commemorative notes with no monetary value. The […]
Iraqi Banks Restricted from US Dollar Transactions: FULL LIST [Amended]
By John Lee. [Editor's Note: On 26th February, the Central Bank updated the list of banks restricted from dealing in US dollars, apparently to correct an error, without making a new announcement. The list below has been updated accordingly.] The Central Bank of Iraq (CBI) has announced updated lists of banks and companies prohibited from […]
IPBL Renews Agreement with Frankfurt School of Finance
By John Lee. The Iraqi Private Banks League (IPBL) has renewed its joint cooperation agreement with the Frankfurt School of Finance & Management, in a strategic step aimed at strengthening professional integration between the Iraqi and German banking sectors and supporting institutional development in line with international best practices. The agreement was signed on behalf […]
Iraq wants Increased Business with Russia
By John Lee. Iraq's Ambassador to the Russian Federation, Abdul Karim Hashem Mustafa, met with Russian Deputy Foreign Minister for Economic Cooperation and Eurasian Integration, Alexander Anatolyevich Pankin (pictured), to discuss mechanisms for facilitating trade and enhancing investment cooperation between the two countries. According to the state-run Iraqi News Agency (INA), the meeting took place […]
Iraqi PM Pushes Sovereign Guarantees Initiative
By John Lee. Prime Minister Mohammed Shia' Al-Sudani chaired a special meeting on the Sovereign Guarantees Initiative, attended by the Minister of Finance, the Director General of Public Debt at the Ministry, the Head of the Sovereign Guarantees Committee, the President of the Trade Bank of Iraq (TBI), and a number of advisers. The meeting […]
UNDP to Support Iraq in Tackling Hazardous Pollutants
By John Lee. Iraq's Minister of Environment, Dr Helo Al-Askari, has signed an implementation agreement with the United Nations Development Programme (UNDP) to launch a multi-year project on the integrated management of persistent organic pollutants (POPs) and the assessment of chemically contaminated sites. The project will update Iraq's obligations under the Stockholm Convention on Persistent […]