By John Lee. Iraq's Minister of Industry and Minerals, Dr. Khaled Batal Al-Najm, has ordered the doubling of cement production to meet the rising demand for essential construction materials. According to a statement from the Ministry, this surge in demand is driven by ongoing infrastructure projects and the government's plan to build fully serviced residential […]
By John Lee. Iraq's Cabinet has endorsed the Energy Council's recommendation to contract with Sama Baghdad and United Aras for the expansion of the gas-powered Haidariya Power Station. According to a statement following Tuesday's cabinet meeting, Iran's MAPNA Group will bear full responsibility for material provision and contract execution, "deviating from regulations based on the […]
By John Lee. The National Bank of Iraq (NBI) has announced the introduction of three new banking systems. According to Izzidin Abusalameh, Group Chief Operating Officer of Capital Bank of Jordan (majority shareholder of NBI), trade finance operations will be enhanced with the help of software from UK-based Finastra. Additionally, both NBI and Capital Bank […]
By John Lee. Jordan's state-run Petra News Agency has said that exports from Jordan to Iraq have surged in 2023. Citing data from the Amman Chamber of Industry (ACI), it says that Jordanian exports to Iraq amounted to JD875 million [$1.2 billion] in 2023, compared to JD714 million in the previous year. This represents an […]
The Netherlands allocates €48 million to support forcibly displaced people and host communities in Iraq through the PROSPECTS Partnership The Ambassador of the Netherlands in Iraq, Hans Sandee, and the Deputy Special Representative of the Secretary-General and UN Resident and Humanitarian Coordinator for Iraq, Ghulam Isaczai, launched today the new phase of the Netherlands-funded PROSPECTS […]
By John Lee. Iraq is to open a Consulate General in Munich, Germany. The Cabinet agreed on Tuesday that the Ministry of Finance will allocate funds for the project. (Source: Media Office of the Prime Minister)
By John Lee. Minister of Industry and Minerals, Dr. Khaled Batal Al-Najm, led the fourth coordination meeting on industrial affairs on Thursday, January 4th. The meeting, attended by Dr. Hamoudi Abbas, the Prime Minister's Industry Affairs Advisor, and representatives from various ministries and organizations, discussed key agenda items. The session began with a review of […]
From Asia Frontier Capital: Asia Frontier Capital Limited Announces that its AFC Iraq Fund is the Best-Performing Long-only Unleveraged Actively Managed Generalist Equity Fund in the World in 2023 Asia Frontier Capital Limited is pleased to announce that its AFC Iraq Fund - according to our research - is the best-performing, long-only, unleveraged, actively managed, generalist […]
By John Lee. In a meeting with the Chinese Ambassador to Iraq, Tsui Wei, and the economic trade advisor Shu Chun, Iraq's Acting Parliament Speaker, Mohsen Al-Mandalawi, discussed bilateral relations and ways to enhance cooperation across various sectors. Al-Mandalawi expressed full parliamentary support for facilitating the operations of reputable Chinese companies within Iraq. He called […]
By John Lee. The South Gas Company (SGC) and Halfaya Gas Company (HGC) have signed a contract for the development and processing of gas from the Nahr Bin Umar field, with a capacity of 150 million standard cubic feet per day. Deputy Prime Minister Hayan Abdul Ghani emphasized the project's contribution to the national economy […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has led the fifth meeting of the High Committee for Reconstruction and Investment, at which several housing projects were approved in various provinces. During the meeting, authorization was granted to the Ministry of Construction, Housing, and Municipalities to negotiate with the executing company for the Housing […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. "What Next after a Gangbuster Year ???" The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was up 6.2% and 97.2% […]
