By John Lee. The Minister of Transport in Iraq, Razak Muhibis Al-Saadawi [Razzaq Muhibis Al-Saadawi] has held a meeting with Italian consulting company Progetti Europa & Global S.p.A. (PEG), along with representatives from Turkiye, to discuss the "Development Road project", also known as the "dry canal project". The project will link Iraq's Grand Faw port, […]
As announced today [Monday], UNICEF has received almost $7 million from Japan to promote equitable access to life-saving child protection, health, nutrition, and education services for returnees from northeast Syria. The project will be finalized by the end of 2023 and will benefit more than 180,000 people, including 88,000 children and more than 47,000 women. […]
By John Lee. Iraq's General Company for Electric Power Production has signed a contract with the Chinese company Shanghai Electric for the construction of a combined-cycle power plant for the Mansouriya gas power station. According to the Ministry of Electricity, the deal is part of the Sino-Iraqi framework agreement and will be implemented on a […]
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. Iraq Market Report: The Budget, and the Stock Market's Next Move The market, as measured by the Rabee Securities RSISX USD Index, was up 2.3% for the […]
By John Lee. Dubai's cloud-based POS and retail management software company Dukkantek has announced a strategic partnership with Lezzoo, a Y Combinator-backed superapp based in Iraq. This collaboration aims to transform Iraq's food and beverage (F&B) supply chain by creating an end-to-end digital ecosystem for small-to-large retailers, enabling them to scale their operations and operate […]
By John Lee. TotalEnergies has confirmed that it will proceed with the Gas Growth Integrated Project (GGIP) in Iraq. In a statement to the markets on Wednesday, it added that QatarEnergy to take a 25-percent stake in the project. Also, in agreement with Iraqi authorities, TotalEnergies will invite the Saudi company ACWA Power to join […]
By John Lee. Dubai-based Value Added Distributor (VAD) Mindware has reportedly announced that it has extended its region of distribution with Dell Technologies to cover Jordan and Iraq. According to Trade Arabia, Toni Azzi, General Manager at Mindware Qatar, Africa and Levant, said: "Both locations are growing economies and with digital transformation initiatives taking place […]
By John Lee. Baghdad and Erbil have agreed a deal to resume oil exports from northern Iraq. Exports of crude oil from Iraqi Kurdistan and Kirkuk had been suspended since last week after a ruling from the Paris-based International Court of Arbitration that Turkiye can not allow exports from the autonomous region by pipeline to […]
Iraq, at the crossroads of several trade routes in the Middle East, has become the 78th country to accede to the United Nations TIR Convention. Iraq's accession to the TIR Convention anchors its strategic role as a transit hub and supports the country's economic vision to expand its non-oil sectors. The TIR system will boost […]
By John Lee. The Iraqi and Russian governments have signed a draft agreement exempting diplomatic, service, and private passport holders from entry visas. Dr. Abdul Rahman Al-Husseini, the Undersecretary for Administrative and Technical Affairs, signed on behalf of Iraq, and Russian Ambassador Elbrus Kutrashev on behalf of Russia. According to a statement from Iraq's Ministry […]
By John Lee. UK-based pump maker Amarinth has won an order from Azku Global Services for $200K of API 610 OH1 pumps for the Majnoon oil field. This is Amarinth's first order from Azku Global Services and follows numerous projects that Amarinth has successfully delivered into Iraq. The $200K order is for two API 610 […]
By John Lee. Oil prices surged on Monday after several producers, including Iraq, announced an unexpected cut in production. Iraq's Ministry of Oil said it has voluntarily decided to reduce production by 211,000 barrels per day (bpd), starting from May, and continuring until the end of 2023. According to BBC, Saudi Arabia is reducing output […]
