Paul Weir, CEO of Genel, said:
"As we enter 2025, we are confident that our business is well-positioned for growth and success. We have a solid financial foundation, and our two producing fields in the Tawke PSC represent a world-class asset that generates strong cash flow, even with the domestic prices being significantly discounted. We have a small but highly...
The Iraqi Cement Company, under the Ministry of Industry and Minerals, has reported a total cement production of 10.2 million tonnes in 2024, representing a 7% increase from the previous year.
Aqeel Abdul Ali Raddam, the company’s General Manager, credited this growth to effective strategies focused on improving productivity and operational efficiency, ensuring the company was able to meet the...
The Iraqi Ministry of Transport has revealed a surge in interest from international companies eager to invest in Iraq's key transportation projects. With enhanced investment conditions and supportive government policies, 2025 is expected to be a landmark year for foreign direct investment in Iraq’s infrastructure sector.
Among the most significant opportunities are the Grand Faw Port project, where 11 international...
Turkish Foreign Minister Hakan Fidan confirmed on Sunday that trade between Iraq and Turkey has reached $20 billion. Speaking at a press conference in Baghdad, Fidan emphasized the strategic nature of the bilateral relationship and the positive impact that Iraq's security and stability has on Turkey. He also highlighted Turkey's commitment to supporting development projects in Iraq, particularly the...
Iraq is experiencing a period of stability, with its economy expanding and diversifying to meet the growing needs of its population. To further enhance these developments, the Iraq Britain Business Council (IBBC) has been invited by Prime Minister Mr. Al Sudani to host a major conference on innovation in Baghdad.
The conference comes on the heels of a successful visit...
Hamoudi Al-Lami, the Prime Minister's Advisor for Industry, Development, and Private Sector Affairs, confirmed on Friday that the government has reduced customs duties to zero on machinery, production equipment, and raw materials. This move aims to support Iraq's private sector and encourage industrial growth. Al-Lami also highlighted that several industries are now exporting goods to Gulf and neighboring countries.
Speaking...
A member of the committee, Mahasen Hamdoun, confirmed that they oppose the new decision, particularly the establishment of a 100 million dinar cap for property transactions. She argued that this limit is not suitable and does not meet the necessary requirements. Furthermore, she warned that such a decision could potentially contribute to money laundering activities.
Hamdoun emphasized the need for...
Edita Food Industries, a leading Egyptian snack food producer, has officially entered the Iraqi market through a strategic partnership with Tuama Jebur Abbas (TJA), a family-owned snack manufacturer based in Baghdad. This partnership marks a key milestone in Edita's regional growth strategy as the company acquires a 49% stake in TJA for $8 million through a capital increase.
As part...