Iraq Business News, Author at Panorama Insurance Brokers

NIC launches Online Portal for Investors

By John Lee. The Chairwoman of the National Investment Commission (NIC), Suha Dawood Najar (pictured), has launched the NIC’s new online portal for receiving investment applications. The new service went live on the NIC’s website — www.investpromo.gov.iq — on Wednesday. It will allow investors to create their own accounts, make applications and submit all required… Read More

Iraqi PM orders Cancellation of Overdue Projects

By John Lee. Prime Minister Mustafa Al-Kadhimi visited the head office of the National Investment Commission (NIC) on Wednesday and was briefed on the progress and obstacles facing investment in Iraq. According to a statement following the visit, the PM directed the cancellation of all licenses for investment projects whose completion rate is between 0… Read More

US awards $500,000 to Preserve Badinan Gate in Amedi

By John Lee. During his visit to Amedi, US Consul General Rob Waller announced that the U.S. Department of State has awarded a $500,000 grant to preserve and protect Badinan Gate. A statement from the US Embassy said the US government is determined to help the IKR preserve and restore its remarkable cultural heritage, and… Read More

Iraq Falls Further in World Press Freedom Index

By John Lee. Iraq has fallen in the World Press Freedom Index for 2021, ranking 163rd out of 180 countries, down one place on last year. The result puts Iraq behind countries such as Turkey and Sudan, but ahead of Iran and Syria. First place went to Norway, with Eritrea coming last. Reporters Without Borders… Read More

Chinese Company to Develop Iraq’s Mansuriyah Gas Field

By John Lee. The Chinese company Sinopec (China Petroleum & Chemical Corporation) has won a contract to develop the Mansuriyah gas field in Diyala. The field, near the Iranian border, is expected to produce 300 million standard cubic feet (Mmscf) per day of gas, which will be used for electricity generation. In 2010, an agreement… Read More

UK’s $4m support for Iraq’s fight against COVID-19

By John Lee. The United Kingdom has committed GBP 3 million (approximately US$ 4.1 million) to support the Government of Iraq’s response to the coronavirus disease (COVID-19) pandemic, in partnership with the United Nations Development Programme (UNDP). With this contribution, the United Kingdom joins 12 international partners in supporting UNDP’s COVID-19 rapid health emergency response… Read More

Correcting America’s Grand Strategic Failures in Iraq

By Anthony H. Cordesman, for the Center for Strategic and International Studies (CSIS). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. [Please note that this report was issued on 1st April 2021, several days before the Strategic Dialogue between the United States and Iraq.]… Read More

UK Removes Iraq from List of “High-Risk Third Countries”

By John Lee. The United Kingdom has removed Iraq from the list of high-risk third countries for the purposes of money laundering legislation. The new listing — “Schedule 3ZA” — does not include Iraq.  This schedule replaces the list in Commission Delegated Regulation (EU) 2016/1675 of 14th July 2016 by identifying high-risk third countries with… Read More

Axens to support Basrah Refinery Upgrading Project

By John Lee. French-based Axens — part of the IFP Energies Nouvelles group — has said it is pleased to continue working with JGC Corporation on the Basrah Refinery Upgrading Project. Earlier this month, Prime Minister Mustafa Al-Kadhimi laid the foundation stone for the $4bn-project. In a statement, the company said: Part of Iraq’s Ministry… Read More

Mastercard, CBI to Promote Digital Payments in Iraq

By John Lee. Mastercard has signed a partnership agreement with the Central Bank of Iraq (CBI) to digitize the country’s payment ecosystem in a bid to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy and accelerate the advancement toward a cashless society. According to a statement from the company, the… Read More