IBBC welcomes Iraq's EBRD Membership
From the Iraq Britain Business Council (IBBC). Joining the European Bank for Reconstruction and Development (EBRD) is great news for Iraq. The IBBC welcomes EBRD membership on a number of levels as Iraq will both benefit from joining an organisation mandated to develop open and sustainable market economies in countries committed to, and applying, democratic […]
Former Unaoil Exec Jailed over Bribery in Iraq
Former Unaoil executive sentenced for paying bribes to win $1.7-billion worth of contracts Basil Al Jarah has today been sentenced to three years and four months' imprisonment for paying in excess of $17m in bribes to dishonestly secure approximately $1.7bn worth of contracts in post-occupation Iraq. Al Jarah, Unaoil's former Iraq partner, conspired with others […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th Oct 2020). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD666 (+0.6%) / $694 (+0.2%) (weekly change) (-1.1% and -1.0% YTD change, respectively). The number of week traded […]
Can Kadhimi curb the Influence of Iran-backed Militias?
By Hamdi Malik, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Can Kadhimi curb the influence of Iran-backed militias in Iraq? Notwithstanding Iraqi Prime Minister Mustafa al-Kadhimi's desire to bring all of Iraq's armed groups under the authority of […]
Iraq to join European Bank for Reconstruction and Development
Iraq has taken the first step to become a member of the European Bank for Reconstruction and Development (EBRD). The 71 existing shareholders of the multilateral financial institution approved a request by the country during the Bank's Annual Meeting on Wednesday. The EBRD promotes private sector development and sustainable and inclusive growth through a combination […]
Five One Labs Launches Iraqi Investment Initiative
Five One Labs, a start-up incubator for Iraqi and Syrian entrepreneurs based in the Kurdistan Region of Iraq (KRI), has launched Five One Invest, an investment initiative that creates more efficient deal-making and matchmaking opportunities for local investors and increases access to capital for entrepreneurs as they scale. Five One Labs co-founder Alice Bosley said: […]
NIC plans to Revitalize Stalled Projects in Iraq
By John Lee. Iraq's National Investment Commission (NIC) has announced that it has prepared a plan to revitalize stalled projects. NIC Chairman, Suha Dawood Najar (pictured), said: "NIC have prepared a plan to revitalize the investment process all over the country in all sectors through activating the lurking and halted projects and reshaping them financially […]
Road to Baghdad -- a Journey of Hope for Iraqi Children
By Iraq Solidarity News (Al-Thawra). Re-published with permission by Iraq Business News. A journey of a thousand miles begins with a single step and around the world, people are taking those first steps in support of Iraq's children. Throughout October, the Iraqi Children Foundation are taking the Road to Baghdad on a virtual journey of […]
Iraq to Expand Haditha Refinery
By John Lee. Iraq's Minister of Oil, Ihsan Abdul Jabbar Ismael, has laid the foundation stone for a new 20,000-barrel-per-day production unit at Haditha Refinery, in Anbar province. The new unit will increase production at the plant to 36,000 barrels per day. The General Director of the North Refineries Company (NRC), Qassem Abdel Rahman, said […]
Cabinet commits resources to Dhi Qar province
The Iraqi Cabinet held an extraordinary meeting in the city Nasiriyah in Dhi Qar province on Monday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. At the start of the meeting, the Prime Minister said that the people of Dhi Qar had sacrificed much for Iraq, but they have suffered from the consequences of past marginalisation. […]
New Report on Iraqi Industry
This report provides a general overview of the Iraqi industrial sector. It starts with a briefing about why the industrial sector is very crucial for Iraq's future economy. As a more advanced industrial sector leads to greater GDP value, higher salaries, and better services provided by efficiently-trained labor. Despite this fact, there has been huge […]
Iraq "Too Broken to Protect itself from Covid-19"
From The Economist. Iraq is too broken to protect itself from covid-19 Most Arab regimes have dealt with covid-19 by tightening their grip. Not Iraq. It gave up on lockdowns long ago. The government seems powerless to enforce social distancing or the wearings of masks (some men see the coverings as an insult to their […]