The latest investment news from Iraq – news on the Dinar, finance and more – brought to you by Iraq Business News
By John Lee. Prime Minister Mohammed S. Al-Sudani has reaffirmed his government's commitment to upgrading Baghdad International Airport (BIAP), chairing a high-level meeting to advance a public-private partnership (PPP) project aimed at overhauling Iraq's main aviation hub. Attended by representatives from the International Finance Corporation (IFC), the Prime Minister's advisors, and the Head of the […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has officially launched construction on the New Sadr City project in Baghdad. The project covers 4,000 dunams [400 hectares; 1,000 acres] between the Al-Maamel area and the edge of the existing Sadr City. It will feature 60,000 housing units of various sizes, fully integrated with public services […]
By Madeleine White Reflections on Trade+ Impact summit, in Ifrane, Morocco 19-23rd September 2016 Madeleine is co-founder of Nina magazine, Impact director of Enterprise development NGO Challenges Worldwide (a founder member of the Access to Finance for Rural Enterprise (ACRE) consortium). Madeleine contributed to discussions around the importance of impact investment and social enterprise within wider economic […]
By Simon Kent. Foreign Direct Investment (FDI) is rising again in Iraq, The Wall Street Journal reports. The piece notes General Electric's billion dollar contract in January, which is of course government spending, to highlight how multi-nationals are increasingly confident as the self declared Islamic State begins to collapse. The piece also notes how FDI is […]
By Robert Tollast. The following opinions are the author's only, and do not necessarily represent the views of Iraq Business News. Despite the grim headlines, the main challenge for doing business in many parts of Iraq is not really security, it is still bureaucracy and a lack of clarity regarding who is responsible for different […]
By Robert Tollast. The following is an interview with an Iraqi finance professional with a degree in Accounting and Finance. He is also a Chartered Certified Accountant with extensive experience in Banking. He returned to Iraq in early 2013 and now works as a Portfolio Manager, travelling across Iraq but residing in the Iraqi Kurdistan. He was kind […]
The KRG’s Head of Foreign Relations recently received Armenia’s Deputy Minister of Economy, Mr Tigran Harutyunyan, and his delegation who were on a four-day visit to the Kurdistan Region. Deputy Minister Harutyunyan, who has visited the Kurdistan Region before, said that the aim of his visit is to further develop ties between Kurdistan and Armenia. […]
Gulf Keystone, an independent oil and gas exploration and production company with operations in the Kurdistan Region of Iraq, today announces its results for the six months ended 30 June 2012. HIGHLIGHTS Operational - to 30 June 2012 and post period end Shaikan (75% working interest; Operator) [Shaikan-2 is pictured.] · 83% increase in gross […]
Iraq is participating in the European-Arab Economic Forum, according to the Iraqi Ministry of Trade. Azad Hussein Rashid, deputy director-general of the Foreign Economic Relations Department at the ministry is attending the two-day forum with many business people from Arabic and European countries, as well as institutional investors from Arabic countries and delegates from industry associations. […]
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") is pleased to provide an operational update for its Kurdamir and Garmian Blocks and a corporate update. KURDAMIR BLOCK Kurdamir-2 Exploration Well Testing of three separate intervals within the approximate 500 metres of gross pay in the Cretaceous reservoir commenced on July 28, 2012. However, the […]
Iraq's National Investment Commission is inviting representatives from government and regional government, and investors and businesses, to a forum to showcase Iraq's investment opportunities. A delegation will come from the Iraq Britain Business Council, headed by its experienced chairman Baroness Nicholson of Winterbourne (pictured, opening an IBBC office in Basra with the local governor, Dr […]
The process of scrapping old dinars and deleting zeros from Iraq's currency to replace it with more manageable numbers could cost the country billions, according to Ahmed Faizullah, the deputy chairman of the Parliamentary Finance Committee. Redenominating is up to Iraq's central bank, but it would cause chaos for government by redenominating after it has set […]
