By John Lee. Iraq's Ministry of Oil has clarified that reports suggesting the country threatened to withdraw from OPEC do not reflect the official position of the Iraqi government. According to the ministry, neither the prime minister nor the government has raised the issue of withdrawal. The ministry said Iraq has consistently called for a […]
By Bassam Raad, for the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Financial Transformations in Iraq (2014-2024): Money Supply Growth and Rising Domestic Debt Iraq's fiscal and monetary policy underwent significant changes over the past decade. Figures […]
By John Lee. Syria and the United Arab Emirates (UAE) have held talks on establishing a logistics corridor linking Syrian ports with Gulf markets via Iraq. According to the state-run Syrian Arab News Agency (SANA), Qutaiba Badawi, Chairman of Syria's General Authority for Land and Sea Ports, met a delegation that included UAE Chargé d'Affaires […]
By John Lee. The Iraqi Civil Aviation Authority (ICAA) has granted an operating licence to Najaf International Airport, following a ceremony attended by the Governor of Najaf and the head of the ICAA. The authority said the licence was issued after the airport completed the technical and regulatory requirements in accordance with the standards of […]
By John Lee. Iraq has for the first time marketed cross-border internet transit capacity to Qatari company Gulf Bridge International (GBI), using the 'Civilisations Route' project stretching from Al Fao to Rabia. According to the Ministry of Communications, the agreement was concluded under an Indefeasible Right of Use (IRU) model, under which fibre-optic strands from […]
By John Lee. Iraq's Ministry of Planning held a technical meeting to advance work on the country's geospatial information management systems and national data platforms. The meeting was chaired by the Under-Secretary for Technical Affairs, Dr Maher Hammad Jouhan. Jouhan said that developing the geospatial information system is a key pillar in supporting planning, sustainable […]
By John Lee. Iraq's Ministry of Communications has held talks with representatives of UK's Vodafone, along with a delegation from the British Embassy, regarding a national mobile telephone licence. According to a Ministry of Communications statement, Minister Mustafa Jabbar Sanad confirmed that the Ministry would press ahead with efforts to improve mobile telephone services in […]
By John Lee. Iraq's General Customs Authority has reportedly completed the automation of 25 customs centres and is preparing to launch a single-window electronic system linking it with 15 government ministries and departments. Its Director-General, Thamer Qasim Daoud Al-Shiryan, told the state-run Iraqi News Agency (INA) that the Minister of Finance had formally instructed the […]
By John Crowley, for Arabian Gulf Business Insight (AGBI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iran's Hormuz Insurance Scheme 'Amounts to Transit Fee' Iran's plans to require vessels crossing the Strait of Hormuz to obtain insurance amount to a transit fee, […]
By John Lee. Iraq and Uzbekistan have signed a memorandum of understanding (MoU) to establish a joint economic and trade committee, marking the conclusion of a visit by Iraq's Minister of Trade, Dr Mustafa Nizar Al-Ani, to Tashkent. According to the Ministry of Trade, the MoU was signed by Al-Ani on the Iraqi side and […]
By John Lee. Iraq's Council of Ministers has approved a recommendation from the Ministerial Council for the Economy to suspend new investment project contracts across all ministries, non-ministry-affiliated bodies, and governorates, as part of a public spending rationalisation drive. The freeze also covers spare parts orders and components added to existing projects without a direct […]
By John Lee. A formal handover ceremony has taken place at the Central Bank of Iraq (CBI), with Nizar Nasser Hussein (pictured, right) assuming the role of governor from his predecessor, Ali Mohsen Al-Alaq. Prime Minister Ali al-Zaidi presided over the ceremony on Sunday. Al-Zaidi stressed the importance of continuing banking reform programmes, achieving financial […]
