France beats Turkey to Big Iraqi Construction Project
By Fehim Tastekin for Al-Monitor. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. France scores big Iraqi construction project at Turkey's expense A French company has beaten out a Turkish one for the Mosul airport project; political considerations along with economic concerns seem to […]
Iraqi Govt to Favour Local Firms for Procurement
By John Lee. The Iraqi Cabinet has directed state institutions to give priority in their procurement to Iraqi industrial firms. A Cabinet Spokesperson said Iraqi firms would be favoured, whether in the private or public sectors. He added that this is part of a wider strategy to support Iraqi industry. (Source: Govt of Iraq)
Iraq, Iran to launch Joint Investment Fund
By John Lee. Iraq and Iran are to launch a fund to finance joint ventures between the two countries. In his closing remarks to the Iran-Iraq Economic Conference on Wednesday, Iran's Minister of Energy Reza Ardakanian said "The proposal to establish a joint venture fund to support the private sector of the two countries was […]
Startup announces Funding through Iraqi Angel Investors Network
The Iraqi Angel Investors Network (IAIN) announced its third facilitated investment into startups in Iraq. The members of the network; Amar Shubar and Jaafar Al Musawi, along with other co-inventors, have made a six figures investment into Hi-Express. In addition, the investment was partially matched by a USD 20,000 in grants from the Deutsche Gesellschaft […]
GKP Shares Rise following Update
By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed the day up more than 5 percent on Wednesday, after the Kurdistan-focused oil producer provided an operational and corporate update to the markets. Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "I am pleased to report that throughout 2020, Gulf Keystone successfully managed the challenging […]
Iran targets $20bn Trade with Iraq
Iran's Energy Minister Reza Ardakanian stressed the need to support Iranian and Iraqi private sectors and remove the obstacles to investment in order to achieve the goal of annual trade exchange of $20 billion between the two neighbors. Delivering a speech to Iran-Iraq Economic Conference on Tuesday, Ardakanian said the main and common target of […]
Iraq Doubles Capacity at Salahuddin-2 Refinery
By John Lee. The Iraqi Ministry of Oil has doubled capacity at its Salahuddin-2 refinery, part of the Baiji complex, from 70,000 barrels per day (bpd) to 140,000 bpd. Speaking at the opening ceremony on Monday, Oil Minister Ihsan Abdul Jabbar Ismail said he plans to restore capacity at the plant to the 280,000 bpd level […]
US Sanctions Iraqi Militia Leader
By John Lee. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated Iraqi Popular Mobilization Committee (PMC) Chairman and former National Security Advisor Falih al-Fayyadh for what it says is his connection to serious human rights abuse. In response, the Iraqi Foreign Ministry has expressed its surprise on the decision, and […]
English-language version of White Paper on Iraqi Reforms
By John Lee. The Iraqi government formally adopted its White Paper for Economic Reforms, prepared by the Crisis Cell for Financial and Fiscal Reform, in October 2020. A full English-language version of the paper can now be downloaded here. ... a summary version can be found here.
More on Daewoo's Iraq Port Deal
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Daewoo fulfills Iraq's Faw Port despite obstacles The head of Iraqi Ports in the Ministry of Transportation signed a contract Dec. 30 with the South Korean company Daewoo […]
Iraq issues Arrest Warrant for Donald Trump
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi judge issues arrest warrant for Donald Trump over Soleimani killing The charge of premeditated murder carries a death sentence under Iraqi law but is not likely to be enforced. Click […]
Happy New Year from all at Iraq Business News!
As we publish our first newsletter of the new year, we'd like to say a special word of thanks to all of our contributors, including our panel of Expert Bloggers, who have given us the benefit of their wisdom and observations over the past twelve months: Ahmed Mousa Jiyad Ahmed Tabaqchali (AFC Iraq Fund) Alice […]