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 […]
Caterpillar to take over Weir Oil and Gas
By John Lee. Scottish engineering company Weir Group has announced the sale of its Oil & Gas division to US-based Caterpillar Inc. The all-cash sale gives its Texas-based division an enterprise value of US$405m (£314m), subject to customary working capital and debt-like adjustments at closing. The move is part of Weir's strategy to become a […]
Duhok Tourist Sites Booming
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Duhok tourist sites welcome more than 12,000 visitors in two weeks Tourist sites in Duhok province have seen upwards of 12,000 tourists in the two weeks since holidaymakers were allowed in from other parts […]
Iraq discusses sourcing Covid Vaccine with AstraZeneca
By John Lee. The Ambassador of Republic of Iraq in London, Mr. Muhammad Jaafar Al-Sadr, chaired a meeting with representatives of the British pharmaceutical group, AstraZeneca, which is a leading company in Coronavirus vaccine in cooperation with the University of Oxford in Britain, through video conference. The meeting discussed the possibility of Iraq obtaining adequate […]
Salaries of Iraqi Officials Depleting State Budget
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Salaries of Iraq senior officials depleting state budget The "astronomical" salaries of the president, ministers, members of parliament and other senior ranking officials in Iraq are depleting […]