By John Lee. The Central Bank of Iraq (CBI) announced the outcomes of a high-level delegation visit to the United States, led by Governor Ali Mohsen Al-Alaq, from August 26 to 29, 2024. The delegation held extensive meetings in New York with the U.S. Treasury, the Federal Reserve, and major financial institutions such as Visa, […]
By John Lee. The Iraqi Cabinet has granted the Finance Minister the authority to sign a loan agreement with Austria's Erste Bank, secured by the Austrian Export Credit Agency (OeKB). The loan will finance an irrigation technology project under the Ministry of Agriculture, in accordance with the Federal Budget Law for the fiscal years 2023-2025. […]
By John Lee. The new Ambassador of the UAE to Iraq has presented his credentials to President Abdul Latif Rashid. Abdulla Matar Al Mazrouei expressed his pride in representing the UAE in Iraq, and highlighted his keenness to enhance bilateral relations across various sectors, which contribute to consolidating fraternal ties and cooperation between both nations. […]
By John Lee. The Arab Institute for Oil and Schlumberger (SLB) have signed a cooperation agreement at the Iraqi Ministry of Oil, focusing on training and development for the sector's workforce. Bassem Mohammed Khudair, the Deputy Minister for Extraction Affairs, stated that this memorandum aligns with the ministry's strategy to enhance technical and engineering skills. […]
By John Lee. Iraq's cabinet has approved contracts for the new energy licensing rounds. A statement from the Prime Ministers Office said: "In the oil sector, following the government's strategy to develop oil wealth investment, the Council approved the contracts of the Fifth Supplementary Licensing Round and the Sixth Licensing Round, totaling 14 projects for […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for July, but has again not disclosed the value of oil exports for the month. This follows an increasing trend of delayed or missing oil export data from the Ministry. Total exports of crude oil: 108,053,356 barrels. Exports from the oil fields […]
By a Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Iraqi Dinar Revaluation Scam: An Examination of False Hope and Financial Deception Introduction The notion that the Iraqi Dinar (IQD) will appreciate in value by an unprecedented multiple has circulated in […]
By John Lee. Iraq's Minister of Industry, Khaled Battal Al-Najm, discussed the contract procedures with China's Tsingshan Holding Group for the development of a specialized industrial city focused on iron and steel production in Basra. The meeting, held on Monday with ministry officials and the Chinese delegation, reviewed the steps and details involved in finalising […]
By John Lee. Iraq's Prime Minister, Mohammed Shia Al-Sudani, met with leading Egyptian business representatives in El Alamein, Egypt, on Tuesday, during his official visit to the country. The meeting emphasized the strategic relationship between Iraq and Egypt, highlighting the potential for economic integration between the two nations. Al-Sudani noted Iraq's ongoing recovery and stability, […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani inaugurated the first phase of the Ur Tourist City project in Dhi Qar, which includes the construction of a cultural center, an open-air Sumerian theater, a closed Ur theater, a religious dialogue center, and an administrative building. Al-Sudani also announced the start of several strategic projects, including […]
By John Lee. A new 50-bed hospital has opened in Dhi Qar. Al-Bathaa Hospital, completed as part of the Dhi Qar Reconstruction Fund, includes fully-equipped wards for children and women, as well as modern oxygen and medical gas systems. Prime Minister Mohammed Shia Al-Sudani inaugurated the new facility during his visit this week to Dhi […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani inaugurated Nasiriyah International Stadium in Dhi Qar province, marking the start of several projects in the area. The stadium, which has capacity for 20,000 spectators, is part of the Dhi Qar Reconstruction Fund. According to a statement from the Prime Minister's Office, the stadium was completed ahead […]
