By John Lee. A planned oil pipeline linking Haditha in Iraq to Baniyas on the Syrian coast is intended to serve as a strategic export route to European markets, according to the Syrian Petroleum Company (SPC). The project is expected to take between two and two-and-a-half years to complete. Safwan al-Sheikh Ahmad, Director of Communications […]
By John Lee. Iraq has signed an agreement with GE to implement a comprehensive plan for securing the country's energy supply. The deal was signed in Washington by Minister of Electricity Ali Saad Wahib, under the auspices of Prime Minister Ali al-Zaidi. According to the Ministry of Electricity, the agreement covers an integrated national programme […]
By John Lee. PepsiCo has reportedly signed two strategic agreements with Iraqi partners covering expanded beverage manufacturing and agricultural development. The agreements were signed at the US-Iraq High-Level Business Summit at the US Chamber of Commerce in Washington DC, on the sidelines of Prime Minister Ali al-Zaidi's visit to the United States. The first agreement, […]
By John Lee. The Iraqi Private Banks League (IPBL) has signed a memorandum of understanding (MoU) with Germany's Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), establishing a strategic framework to support the development of Iraq's financial and banking sector and promote sustainable economic growth. The MoU was signed by Ali Tariq, Executive Director of the Iraq […]
By John Lee. The Iraq Development Fund has identified investment opportunities worth $40 billion in goods currently imported into the country that could instead be produced domestically. Mohammed al-Najjar (pictured), head of the fund, told the state-run Iraqi News Agency (INA) that Iraq's annual import bill provides a measure of the scale of the opportunity, […]
By John Lee. Iraq's ports recorded strong financial and commercial growth in 2025, according to an annual statistical report published by the Statistics and Geographic Information Systems Authority of the Ministry of Planning. Key indicators for the General Company for Ports of Iraq (GCPI) showed: Total revenues of IQD 1,100.7 billion ($840 million), up 20.5% […]
By John Lee. The State Company for Marine Transport (SCMT) has taken initial delivery of 15 new boats and three ferries under a contractual agreement with China. The fleet includes modern tourist boats, two passenger ferries with a capacity of 200 passengers each, and a large multipurpose ferry capable of carrying 500 passengers and 80 […]
By John Lee. The Central Bank of Iraq (CBI) has held a meeting with licensed electronic payment companies in Iraq to advance the development of the national payments system and promote financial inclusion. According to the CBI, the governor emphasised that e-payment firms must raise the quality, efficiency, and reliability of their services to build […]
By John Lee. Iraq's first industrial-scale photovoltaic (PV) solar module manufacturing facility has opened in Karbala. The Al-Nour Solar Panel Production Plant was developed for the Project Engineering Department of the Al-Abbas Holy Shrine by Italian firm Ecoprogetti Srl, which supplied and installed the complete turnkey production line. The facility has an annual installed capacity […]
By John Lee. Iraq's General Company for Building Materials Trading has launched a direct sales and instalment scheme under an initiative called "Al-Taaoun lil-Insha'iya" (Cooperation for Construction), allowing state employees and retirees to purchase building materials, furniture, and household electrical appliances on instalment terms of up to 15 months, with no guarantor or down payment […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Struggles to Meet Power Demand amid Drop in Iranian Gas Imports The Iraqi government is producing less than half of the country's electricity needs despite scorching summer temperatures, a shortfall officials partly attribute […]
By John Lee. The Iraqi Private Banks League (IPBL) has welcomed the recent announcement that seven Iraqi private banks are to regain access to foreign currency correspondent banking channels (excluding the US dollar). The announcement followed high-level talks between the Central Bank of Iraq (CBI) and officials at the US Treasury. An IBPL statement described […]
