The latest investment news from Iraq – news on the Dinar, finance and more – brought to you by Iraq Business News
For those who have followed Iraqi security on a daily basis since 2003, if not before, the current security situation in Iraq is nothing short of a miracle. In the dark days of 2006, the daily listing of violent incidents was 150 or 200-long, and we all knew that much of the sectarian cleansing was […]
Rumaila, the workhorse of Iraq’s oil industry and its largest producing oilfield, is buzzing with activity as executives, engineers and drillers begin a massive overhaul to nearly triple its million barrels per day output.At the airport in Basra, capital of southern Iraq, officials struggle to process the unprecedented numbers arriving to join the country’s nascent […]
A total of Eighteen German and Dutch oil companies will participate in an oil conference in Arbil on Tuesday - “The Netherlands government organizes this conference along with Shell, 14 Dutch oil companies and three German companies,”
Iraqi GDP growth remains at the mercy of the oil markets, with the economy growing 10.3% in 2008, slowing to 4.3% last year in the wake of the crash, and now expected to rebound to 7% this year as prices have recovered (according to the central bank’s latest forecast). This state of affairs has led […]
The Najaf Investment Commission has approved nine new investment projects at a total cost of $38 million (more than 45 billion dinars), raising the number of investment projects in the province to 65, head of the commission said on Wednesday. “The NIC gave nine new investment licenses in the health, entertainment, commercial and educational fields […]
Eighty investment permits have been granted to execute projects in Baghdad at a total cost of more than $100 billion. “The permits were granted in coordination between the Baghdad Mayoralty, Baghdad Investment Commission, and the National Investment Commission,” the Baghdad mayoralty said in a press release on Monday, as received by Aswat al-Iraq news agency. […]
More than 65 Chinese firms are participating in a fair in Najaf city.
Iraq's government said it plans to embark on a roadshow June 27 to attract investments for projects including four domestic refineries worth more than $3 billion, pan-Arab Al Hayat daily reports Thursday.
Iraq will decrease its deficit to 8 percent over the next three years from 18 percent, the finance minister said on Wednesday, and envisioned a substantial increase in investment as a percentage of the budget.
Iraq’s government has ordered 500 Scania trucks, which are being assembled locally by the Iraqi state automotive company. Scania has also delivered about 30 trucks to private buyers since reentering the country at the end of last year.
While addressing the Conference on Interaction and Confidence building measures in Asia (CICA) held in Istanbul, Iraq Deputy President Tarek Al Hashimi said that Iraq has made progress in its journey towards building a prosperous economy through enticing foreign investments. Hashimi stressed the role of Asian companies in the oil and gas sector. The Deputy […]
“The problem in Iraq is that 90 percent of the wealth of the nation is in the hands of the government. So centralism always dominates the mindset everywhere,” The economy is still largely disconnected from the global financial system and is dominated by oil.
