The United States Agency for International Development (USAID) and Top Mountain have launched a Business Accelerator Project to assist micro, small, medium-sized businesses (MSMEs) in Iraq to provide immediate assistance to help their business recover, develop, and grow. In support of this effort, Top Mountain will distribute USAID-funded grants to 15 Iraqi businesses. These grants […]
By John Lee. Kuwait-based food and grocery delivery app Talabat has announced the expansion of its services into Iraq. The app, which operates in eight markets throughout the MENA region, will initially launch operations in Erbil in early 2021, before expanding into Federal Iraq in 2021. Founded in Kuwait in 2004, talabat continues to revolutionise […]
By Farhad Alaaldin, for Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Kurdistan Region rice farmers harvest bumper crop Finance Minister Ali Allawi said in a press conference following the adoption of the White Paper for Economic Reform by the Council of Ministers […]
By John Lee. French telecoms company Orange Group has reportedly launched legal proceedings against the Iraqi government with the International Center for Settlement of Investment Disputes (ICSID), part of the World Bank, for more than $400m that it alleges was expropriated by the country's regulator. The case relates to the company's investment in Korek, the […]
By John Lee. An Iraqi government white paper has warned of a possible collapse in the value of the Iraqi dinar. According to Farhad Alaaldin, writing for Rudaw, the recently-approved white paper refers on page 37 to the danger of using the Central Bank of Iraq (CBI) as a source of financing, saying that the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th Oct 2020). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD681 (+2.3%) / $707 (+1.9%) (weekly change) (+3.4% and +0.9% YTD change, respectively). The number of week traded […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Kurdistan Region rice farmers harvest bumper crop Rice harvest season has begun in the Kurdistan Region, and farmers in Erbil's Harir sub-district say there's been a boom in production this year. "We're making a […]
Breaking Out of Fragility: A Country Economic Memorandum for Diversification and Growth in Iraq Iraq is at a crossroads. Almost two decades after the 2003 war, the country remains caught in a fragility trap, facing increasing political instability, growing social unrest, and a deepening state-citizen divide. Amid a multitude of crises (including an oil price […]
Newly-constructed COVID-19 Isolation Ward opens in Dohuk A 20-bed Isolation Ward designed to handle the most severe COVID-19 patients has been officially opened by the Governor of Dohuk in partnership with the United States Agency for International Development (USAID) and the United Nations Development Programme (UNDP) in Iraq. Constructed by UNDP and funded by USAID, […]
By John Lee. The Iraqi Cabinet has approved the White Paper on Financial Reform presented by Deputy Prime Minister and Minister of Finance, Ali Allawi. The document outlines more than 200 reforms aimed at tackling the immediate financial crisis facing Iraq. Click here to download the white paper (Arabic only) Click here to read analysis […]
By Ali Al-Mawlawi, for 1001 Iraqi Thoughts. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Can the White Paper Deliver on Economic Reform? The Iraqi government's long-awaited "White Paper" was formally approved by cabinet on October 13 after it was shared with members of […]
By John Lee. The Iraqi Cabinet has authorised the Ministry of Transport to enter into negotiations with a consortium led by France's Alstom and Hyundai of South Korea, regarding the Baghdad suspension railway project. The result of the negotiates are to be submitted to Cabinet for approval. (Source: Govt of Iraq)
