By John Lee. The eight OPEC+ countries, including Iraq, have agreed to the continuing of their phased rollback of 2.2 million bpd in voluntary cuts that began in April. According to a statement from OPEC, the decision, taken during a virtual meeting on 3rd August, reflects confidence in current oil market fundamentals, including low inventory […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has inaugurated a 50-megawatt self-generation power station at the North Refinery in Salahuddin, designed to ensure uninterrupted electricity supply for refinery operations and reduce dependency on the national grid. The Prime Minister praised the efforts of the staff at the power station and the North Refineries Company […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has inaugurated the construction of the Italian Hospital in Baghdad, located on the former site of the "Turkish Restaurant" building, as part of the "Baghdad is More Beautiful" campaign to revitalise abandoned structures for public service. The 103-bed facility will be equipped with modern medical technologies and […]
By John Lee. Al Reyaza Group Company for General Contracting Ltd has won a contract with the United Nations Educational, Scientific and Cultural Organization (UNESCO) for the "Reconstruction and Rehabilitation of Barood Khana in Mosul." Barood Khana is described in the tender documents as "a historic structure of Ottoman origin that has served multiple functions, […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has officially launched the first phase of the second Baiji Gas Power Station in Salahuddin province, a project that will add up to 1,014 megawatts to Iraq's power grid. Speaking at the launch event on Saturday, Al-Sudani reiterated that energy is the cornerstone of Iraq's comprehensive development […]
By John Lee. The Central Bank of Iraq (CBI) has published its new guide to environmental, social and corporate governance (ESG) standards. Click here to download the full report [Arabic]. To browse our comprehensive library of reports on Iraq, click here. (Source: CBI)
The following were the ten most read dinar-related articles on Iraq Business News for the month of July: IMF Comments on Iraqi Dinar Exchange Rate Donald Trump and the "Great Iraqi Dinar Revaluation" IMF Explains Iraq's Exchange Rate Arrangement Counterfeit Iraqi Dinars: Central Bank Hosts Workshop Iraqi Dinar Prospects: Reality Check After Six Months of […]
By John Lee. Ard almasalh has won a contract with the United Nations Office for Project Services (UNOPS) for "Supplying and Installing PV Modules for the Constructed Category IV Housing Units in Sinjar." The contract value was stated as $478,259 (Source: UNGM)
From the International Labour Organization (ILO): Study Visit for Knowledge Exchange on Public Works Programmes and Labour-Intensive Investment Approaches in Iraq As part of its ongoing efforts to promote decent employment and support sustainable local development, the International Labour Organization (ILO) organized a study visit to Erbil and Duhok governorates from 19 to 23 July […]
By John Lee. The International Committee of the Red Cross (ICRC) and Iraqi Red Crescent Society (IRCS) have announced that applications are now open for their Photography Award. The annual contest, launched in 2021, aims to encourage Iraqi photographers to highlight humanitarian issues affecting local communities. This year, contestants are invited to explore the theme […]
By John Lee. The Financial Adviser to the Iraqi Prime Minister, Dr. Mudhhir Mohammed Saleh, has firmly denied social media rumours claiming the destruction of half of Iraq's currency supply - approximately 62 trillion dinars [$47 billion] - as "economically absurd and completely unfounded". In remarks to the state-run Iraqi News Agency (INA), Saleh clarified […]
By John Lee. The General Company for Ports of Iraq (GCPI) has launched a significant digital transformation by integrating what it describes as "advanced fifth-generation (5G) smart equipment" into its operational infrastructure, marking a major step toward full automation in Iraq's maritime sector. According to Director General Dr. Eng. Farhan Al-Fartousi, the company received a […]
