Iraq Business News brings you the latest news from Erbil, Kurdistan, Iraq – including Banking, Airlines, Hotels, Property and more.
By John Lee. The Kurdistan Regional Government (KRG) has said that the Gomaspan Dam in Erbil Governorate will be the third largest in the Kurdistan Region when it's completed in mid-2024. Key statistics: Location: Erbil Governorate, Kurdistan Region Size: Third largest dam in Kurdistan Region Reservoir Storage: Expected 115 million cubic metres Water Usage: Irrigation: […]
By John Lee. Erbil-based freight forwarding and customs clearance company Almas Group Logistics has joined the Project Cargo Network (PCN). Established in 2009, the company has three offices in Erbil, Baghdad and Sulaymaniyah. PCN provides access to a global network of agents who can handle shipments; it comprises more than 350 companies in 125 countries. […]
By John Lee. Ultra-low-fare airline Wizz Air Abu Dhabi, has announced its latest route to Erbil, in the Kurdistan Region in Iraq. Flights to Erbil will commence on 6th October and will operate twice a week, on Monday and Friday. Wizz Air Abu Dhabi is a subsidiary of Hungary's Wizz Air. (Source: Wizz Air Abu […]
By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG) has said that the KRG is committed to supporting the construction of dams across the Kurdistan Region. Speaking at the laying of the foundation stone for the Bastora Dam in Erbil governorate, Masrour Barzani said the government has decided to build as many […]
By John Lee. Prime Minister Masrour Barzani of the Kurdistan Region of Iraq opened the new Grand Majidi Mall in Erbil this week. The development, by Hewa Holding, promises to provide 1,700 jobs and opportunities for locals. (Source: @masrourbarzani)
By John Lee. KRG Prime Minister Masrour Barzani has said that, while the KRG's financial reforms project is still in its preliminary stages, its ultimate goal is to digitise the public sector's payroll, benefiting 1.2 million civil servants. Additionally, the project aims to involve the private sector to ensure accessibility and convenience for everyone in […]
By John Lee. The Kurdistan Regional Government (KRG) has issued details of the Goma Span Dam, which is currently under construction in Erbil. With an area of 6.125 million square meters, it will be the biggest dam in Erbil province when completed, and the third largest in the Kurdistan Region after the Dukan and Darbandikhan […]
By John Lee. KRG Prime Minister Masrour Barzani has laid the foundation stone at the first solar power plant in Erbil province. The 25-MW plant is being developed by a consortium consisting of Pluto Otto Cycle and Chinese companies Getting International Energy (which also has interests in neighbouring Jordan) and Shenglong Electric. The deal to […]
By John Lee. Fitch Ratings has assigned Erbil's Region Trade Bank for Investment and Finance Private Shareholding (RTB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's, "limited franchise, unstable business model, volatile and concentrated customer deposit base and weak albeit improving profitability." […]
Dr. Mohammad Shukri Mohammad Saeed, head of the Kurdistan Region Investment Board, has made an announcement regarding housing units for low-income earners, stating that they will be ready for occupancy by the middle of next year. During an interview with the official website of the Kurdistan Regional Government, Dr. Saeed shed light on the lengthy […]
By John Lee. Erbil-based start-up Midient has reportedly received a "pre-seed round" investment of $115,000 from regional accelerator Flat6Labs for its loyalty program product Kurdivia. According to Iraqi Innovators, the company was co-founded by Ahmed Jamal, Mohammed Shahoyi, and Omer Sabah. It was also picked for a $10,000 pilot investment by Canadian venture fund Loyal […]
Funds from Kuwait Fund for Arab Economic Development allow UNHCR to continue delivering essential services to refugees in the Kurdistan Region of Iraq UNHCR, the UN refugee agency in Iraq, in cooperation with the Kurdistan Regional Government and Ministry of Interior, with generous financial support from the Kuwait Fund for Arab Economic Development, opened a […]
