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  • Investors Iraq News's Avatar
    Today, 10:30 AM
    By Robbie Gramer, for Foreign Policy. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Pompeo Seeks to Make Baghdad Embassy Pullout Permanent, Officials SayIn May, Secretary of State Mike Pompeo ordered a partial evacuation of diplomats from the U.S. Embassy in Iraq amid escalating tensions with Iran. Now, several State Department officials say they are being told the drawdown in embassy staff will effectively become permanent, a move that could leave the U.S. Embassy short-staffed to undertake important tasks like countering Iran on the diplomatic front—and in the short-term has marooned hundreds of diplomats in the Washington area without an embassy to go back to. Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Today, 10:30 AM
    NIC Chairman: Iraq is an Attractive Environment for Power SectorNational Investment Commission (NIC) Chairman, Dr. Sami Al-Araji assured, during a word he delivered in Powering Iraq Conference held in Baghdad July.10.19 that Iraq is an attractive environment for capitals in various economic sectors and at the top stands the power sector and that investment laws and regulations contained generous incentives that fertilize the land for the foreign companies to invest in the country. The conference was attended by Ministers of Oil and electricity, Ministries and Government institutions representatives, Iraqi private sector representatives in addition to Ambassadors of a number of countries. NIC Chairman stated that the Commission granted a number of investment licenses in power sector a head of which was Bismayah Power station executed by Mass Holding Company with a capacity of 3000 MW and work is proceeding to add 1500 MW, as it is currently covering 60% of Baghdad need for electricity power, while other licenses were granted to implement power stations in the southern part of Iraq with an estimated total capacity of 4500 MW (some of them are achieved and others in their final completion stages). He also added that NIC is keen to cooperate with other relative ministries and institutions to achieve self- sufficiency in power in all its types including employing the renewable energy to reach this goal. Dr. Sami also praised the role of the local and foreign private sector which contributed to motivating the investment wheel in various strategic and vital sectors like (Oil and Gas, Housing, Industry, Health, Agriculture, and higher education) disseminated all over Iraqi provinces in a way that provided new national income resources. NIC Chairman invited the Government and the Parliament to issue the legislations that can contribute to implementing the five year and ten year plans laid to guarantee the substantial development, stressing the continuance in NIC program aiming at constructing strategic investment projects that serves the country like the housing project of Bismayah consisting of 100 thousand housing unit. The conference works also witnessed speeches for Minister of Oil, Minister of Electricity, Representative of the Ministry of Industry and Minerals, Ambassadors of US and UK. the conference was attended by more than 200 businessmen from inside and outside Iraq during which presentations of Ministries of oil and Electricity were presented in the fields of energy and alt- energy and was closed by round tables meetings between the Public and private sectors. (Source: NIC) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • BatmaninIraq's Avatar
    Yesterday, 11:35 PM
    Deposits of foreign currency notes (USD) July 15, 2019 To all banks ( Deposits of foreign currency notes ( USD )) ( No.: pp / 5094/9/3/12 Date: 15/7/2019) We advise you to adhere to our letter No. 3610/3/12 dated 2018/9/18, which provides for the receipt of all issues of foreign currency (dollar), provided that the banknote is in good condition and according to the criteria specified in our book above according to the mechanism of receipt of foreign banknotes Issued by the bank.
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  • Investors Iraq News's Avatar
    Yesterday, 03:01 PM
    By Dana Taib Menmy for Al-Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. Kurdistan Regional Government (KRG) Prime Minister*Masrour Barzani presented his new Cabinet July 10, vowing to institute reforms and reinvigorate the semi-autonomous government in Erbil, Iraq. Three main parties in Iraqi Kurdistan were able to reach an understanding on their ministerial nominations to finally form the new government:*the Kurdistan Democratic Party (KDP), Patriotic Union of Kurdistan (PUK) and Gorran (Change) movement. Parliament now has confirmed 21 ministers for*the Cabinet, though the controversial post of the natural resources minister remains*vacant. Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Yesterday, 03:01 PM
    Joint statement by HR/VP Mogherini and Iraqi Foreign Minister Alhakim on the EU-Iraq relations and regional cooperationThe European Union and Iraq strongly affirm their shared commitment to peace and stability in the wider Middle East and call*for the de-escalation of the current tensions in the region,*reminding*that the risks*and the consequences*may affect Iraq, the*region and*beyond. The EU and Iraq share a common vision for the region and wish to proactively support actions and initiatives to promote dialogue instead of confrontation, aiming to build a cooperative framework based on shared interests. Cooperation is the strongest foundation of a long-term regional security, stability and sustainable development. The European Union remains committed towork together with the Iraqi government to promote these values and is firmly of the view that the Iraqi proposal of a regional conference merits full support and engagement. Iraq and EU reaffirm*their strong bond of partnership and friendship,*deepened*in*recent years*during the joint*cooperation*to*defeat*Da’esh.*The EU highly values Iraq’s*contribution and sacrifices in the war against terrorism and supports*its*efforts to eradicate*all forms of*terrorist ideology. Iraq*strongly*appreciates*EU’s*support*to*the Government of Iraq*and*to the Iraqi people as well as*the*EU’s commitment to*peace and stability in the Middle East*through diplomatic*engagement. The*2018*EU Strategy for Iraq*defines the*mechanism*to support the*political and*economic*priorities of*the partnership with*the Government.*The entry into force of the Partnership and Cooperation Agreement*with Iraq (PCA) in August 2018*sets the legal framework for this partnership. Both sides look forward to swift implementation, which will reinforce cooperation on a range of topics of mutual interest, including democracy and human rights, economic and trade matters, energy, security, transport, environment and migration-related issues. The EU and the*Government of Iraq will continue to work together to achieve the objectives of the Conference for Iraq Reconstruction held in Kuwait*in February 2018*to provide a better future for the Iraqi people, based on improved*governance and inclusive economic development. Since 2014,*the EU*has*provided*€1.2 billion*in humanitarian, stabilisation, development,*and*security*cooperation,*which is the best testimony of*its*long term*commitment to a strategic partnership with Iraq. (Source: EU) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Yesterday, 03:01 PM
    Siemens, the Iraqi Ministry of Health and the Directorate of Health in Salah ad-Din Province have announced the completion of building repairs and the impending installation of Siemens medical equipment at the Al-Tawheed Center. The clinic, located in Baiji, has been fully renovated by the Ministry of Health and will be equipped with Siemens technology to provide much-needed medical care to residents of the province, approximately 200km north of Baghdad. Siemens will donate all medical and power equipment required for the Al-Tawheed Center to the German non-governmental organization Stiftung der Deutschen Lions, enabling them to complete center’s rehabilitation. When complete, the center will have the capacity to treat up to 10,000 patients a year. The Siemens equipment includes a digital x-ray, a dental treatment center, state-of-the-art laboratory equipment including a hematology blood analyzer, a power transformer and other technical equipment required to ensure uninterrupted power supply. Musab Alkateeb, CEO of Siemens Iraq, said: “This health clinic is an important part of our commitment to the Iraqi people, and we are pleased to be working with the Ministry of Health and local leaders to return this important facility to the community. “Siemens has a long relationship with the city of Baiji and its people, and we understand the importance of enabling access to high-quality, reliable healthcare as we work together to build the New Iraq.” (Source: Siemens) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Yesterday, 03:01 PM
    By John Lee. Bina Puri Sdn Bhd, a wholly-owned subsidiary of Malaysia’s Bina Puri Holdings Bhd, has successfully secured a new contract for the proposed dual-lane road from Al-Islah Junction to Al-Jabayish at Nasirya City, in Thi Qar province. The project, worth IQD87 billion ($73 million), includes the construction of 74.5 km dual lane road with 7 bridges ranging from 14m to 87m length, complete with all road accessories such as guardrails and street lighting, with work duration of 36 months. (Source: Bina Puri) Source: Iraq-BusinessNews.com. Post your commentary below.
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