By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, participated in the Iraq Energy 2025 Conference in Baghdad, organised by the Iraq Development Platform. During a panel discussion, the Governor highlighted the CBI's adoption of non-traditional monetary policies aimed at economic stability. He emphasised the bank's role in financing […]
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani met with Ousmane Dione, World Bank Vice President for the Middle East and North Africa, to discuss strengthening cooperation and advancing development projects in Iraq. The discussions emphasised initiatives to diversify Iraq's economy, reduce oil dependency, and create employment opportunities, with a focus on private sector […]
By John Lee. A leading Iraqi economist has predicted that US President Donald Trump's pressure to reduce oil prices will harm the Iraqi economy, and could lead to a devaluation of the Iraqi dinar. In a post on Facebook, Dr Nabil Jaafar Al-Marsoumi, former Professor of Economics at Basra University, and member of the Advisory […]
By John Lee. Iraq's Central Organisation for Standardisation and Quality Control (COSQC) has opened its fourth unit for testing and hallmarking precious metals and imported gold at Kirkuk International Airport. The ceremony, led by Dr. Fayadh Mohammed Abdul-Dulaimi, COSQC President, was attended by key officials, including airport customs and border management representatives. Dr. Abdul-Dulaimi highlighted […]
By John Lee. US engineering firm KBR has secured a $187 million order from the U.S. Department of State to provide medical support services in Iraq under the Diplomatic Platform Support Services (DiPSS) contract. The five-year Medical Support Services Iraq (MedSSI) task order will run through 2029. Under the contract, KBR will operate a Diplomatic […]
By John Lee. Iraq's Supreme Council for Youth has approved several initiatives to promote youth development and economic participation. Key decisions included establishing "Secure Economic Zones for Youth," with four incubators in Baghdad and two in each governorate, and creating the "Iraq Young Entrepreneurs Forum" to support 500 young entrepreneurs and enhance their access to […]
Genel Energy issued the following trading and operations update in advance of the Company's full-year 2024 results, which are scheduled for release on 18 March 2025. The information contained herein has not been audited and may be subject to further review. Paul Weir, Chief Executive of Genel, said: "We start 2025 with a business that […]
By John Lee. Prime Minister Mohammed S. Al-Sudani met with Steve Lutes, Vice President of Middle East Affairs at the U.S. Chamber of Commerce and President of the U.S.-Iraq Business Council, to discuss Iraq-U.S. commercial relations. The talks focused on preparations for a forum of U.S. company representatives in Iraq and the progress on implementing […]
By John Lee. Iran has reportedly launched a $528-million project to develop three oilfields near the Iraqi border. According to the state-owned Iranian PressTV, the fields are Sumar, Saman, and Delavaran, located in Kermanshah and Ilam provinces, part of the Naftshahr Operation Zone. The development, overseen by the National Iranian Oil Company (NIOC), aims to […]
By John Lee. Prime Minister Mohammed S. Al-Sudani met with Abdullah Salem Al-Nuaimi, CEO of Abu Dhabi Securities Exchange (ADX), to discuss enhancing cooperation and expanding private sector engagement to support economic growth. During the meeting, the Prime Minister oversaw the signing of a Memorandum of Understanding (MoU) between the Iraqi Securities Commission (ISC) and […]
By John Lee. Oil output at Iraq's Rumaila oilfield is reportedly down by 300,000 barrels-per-day (bpd) following a fire last week. The fire is said to have occurred in a decommissioned storage tank at the field's fifth gas separation station (DS5) in northern Rumaila. It was not reported when the field is expected to be […]
By John Lee. The Iraqi Ministry of Transport has announced increased interest from international companies in investing in Iraq's strategic transport initiatives. Aided by improved investment conditions and government policies, 2025 is expected to see exceptional foreign direct investment activity, according to the Ministry. Key opportunities include the Grand Faw Port project, with 11 shortlisted […]
