Iraq Economic News and Points To Ponder Saturday Afternoon 7-18-26
Minister Of Finance: The Praise Of The International Monetary Fund For Economic Reforms Reflects International Confidence In Iraq
Money and business Economy News – Baghdad Finance Minister Faleh Sari said that the meeting between the government delegation, headed by Prime Minister Ali al-Zaidi, with the head of the International Monetary Fund, Kristalina Georgieva, in Washington, D.C., represents an important milestone in strengthening the partnership between Iraq and the International Monetary Fund, and supporting the path of economic and financial reforms implemented by the government.
The minister pointed out that the praise of the head of the Fund for the reform measures adopted by the Iraqi government, especially in the areas of financial reform, combating corruption, and diversifying sources of income, reflect the growing international confidence in the Iraqi economy and the steps taken by the government to build a more diversified and sustainable economy.
He added that the Ministry of Finance is continuing to implement its reform programs, in coordination with national authorities and international partners, in order to enhance financial stability, raise the efficiency of public financial management, support the investment environment, and enable the private sector to play a greater role in achieving sustainable economic development https://www.economy-news.net/content.php?id=71529
Iraq Is Ready To Export Rebar
Money and business Economy News – Baghdad The Ministry of Industry and Minerals announced on Saturday its readiness to equip the public and private sectors with rebar, while noting that the production of rebar conforms to international specifications confirmed its readiness for export.
The Director General of the General Company for Iron and Steel, one of the formations of the Ministry of Industry and Minerals, Abbas Mohammed Sayhud al-Asadi, said that "the company is ready to equip government departments, private sector companies and citizens with its products of rebar conforming to international specifications," stressing "the company's readiness also to export rebar outside Iraq."
He added that "the company has accumulated production capacities and expertise that qualifies it to meet the needs of the local market of rebar in various measurements, starting from (8 mm) to (32 mm), according to the customer's request, while adhering to the approved international specifications."
Al-Asadi added that "the company is ready to equip state institutions, the private sector and citizens, as well as its readiness to export its products to foreign markets, based on the distinguished reputation enjoyed by its products and high quality, which it has gained over more than four decades of production," pointing out that "the company enjoys a strategic location in the province of Basra near the ports of Iraq in Khor Al-Zubair, and is one of the oldest iron and steel companies in Iraq and the region, as it was established in 1978. "
He explained that "the company's factories have witnessed comprehensive modernization operations using technologies and equipment from global origins, in line with the recent developments in the iron and steel industry, while its design capacity is more than (500) thousand tons per year," stressing that "the company is continuing to implement its development plans through the establishment of modern production lines during the next phase, which contributes to increasing production capacity and enhancing the company's ability to meet local demand and expand in foreign markets."
He pointed out that "the company includes specialized engineering and technical cadres with high expertise and competencies, which contributed to maintaining the quality of the national product and enhancing its position in the market, while continuing to work on the development of performance and production in accordance with the latest industrial standards
https://www.economy-news.net/content.php?id=71522
Sponsored By Zaidi. Signing 48 Agreements, Memorandum Of Understanding And Economic Cooperation Between Iraq And The United States
Money and business Economy News — Baghdad Prime Minister Ali Faleh al-Zaidi, on Friday evening, the signing of 48 agreements and memorandums of understanding and economic cooperation between Iraq and the states.
A statement by the Prime Minister's Information Office said that "the Prime Minister sponsored the signing of (48) agreements, memorandum of understanding, cooperation and declaration of partnership between the various public and private sectors in Iraq and the United States of America, which establishes a clear path of economic and financial cooperation between the two countries, and moves the relationship to an advanced level of exchange that is in the interest of both parties."
The statement added that "the agreements and memorandums of understanding included cooperation and partnership between the ministries of oil and electricity and their companies and other government sectors, and each of Aixon Mobil, KBR, GE Vernova, Shell, and Halliburton, as well as a cooperation agreement and the introduction of service between Starlink and the Media and Communications Authority, and an agreement to cooperate with Halliburton."
He added that "the agreements signed between the two sides, also included a memorandum of understanding between Kisslite Technology and the Iraqi private sector, as well as PepsiCo, and a number of companies with regard to the extension of oil pipelines to Baniyas on the Mediterranean Sea, agreements for partnership in the field of education, and agreements between the private sector in the field of supply and manufacture of medicines."
He pointed out that the agreements included memorandums of understanding with KBR, UOP, Polaris, the Association of Energy Engineers (AEE), the leading electronic network company PPTA, two agreements with Freto Lai to develop the agricultural sector, and partnership with companies specialized in the agricultural, commercial and industrial fields
https://www.economy-news.net/content.php?id=71518
Media Authority: Iraq Has Achieved The Highest Material Return From Its Agreement With Starlink In The Region
Money and business Economy News - Follow-up The head of the executive body of the Media and Communications Authority, Bligh Abu Kall, confirmed today that Starlink has officially started its work in the Iraqi market, while pointing out that users of old devices that were previously working illegally are not held accountable.
Abu Kall said that "Starlink is as of today an official company operating in the Iraqi market, and will start the procedures for the sale of devices and the mechanism of activation of the system in full."
He added that "the old devices that were previously operating illegally will be transferred to the Iraqi system, and there will be no accountability against its users," noting that "this step represents an important development in the organization of the service inside Iraq."
He pointed out that "the Information and Communications Commission was keen to establish controls to ensure the maintenance of Iraqi security and sovereignty, both at the technical and security level, in addition to the preparation of a regulation commensurate with the specificity of Iraq and ensure its rights in various sectors."
Abu Kalal explained that "Iraq will achieve the highest material return from Starlink at the level of the region, and perhaps globally, which reflects the nature of the agreement with the company and guarantees the rights of the Iraqi state
https://www.economy-news.net/content.php?id=71536
Samawa Railways Rehabilitate 10 Giant Tanks To Strengthen National Transport Fleet
Money and business Economy News – Baghdad In the Middle Euphrates (Samawa) region of the rehabilitation of a new batch of basin vehicles dedicated to the transport of oil derivatives, stressing that this step represents a technical victory that contributes to enhancing transport capabilities and supporting the national energy sector
The general manager of the company, Dr. Makki Jaber, said in a statement received by "Zagora News" that "the loyal staff in Samawah was able to restore life to more than 10 basin vehicles of the type (FZB) that had been systematically sabotaged by terrorist groups after 2014," noting that "work continued even on holidays to ensure the speed of completion and provide the fleet with new units ready to work immediately."
The most prominent details of the artistic achievement in the Middle Euphrates Railway:
Rehabilitation: Maintenance and repair of more than 10 FZB-type pelvic vehicles were completely out of service.
Technical Specifications: The work included maintenance of structures, wheels, and advanced safety systems according to the approved technical standards.
Economic support: The vehicles are fully ready to travel towards oil refineries, which contributes to increasing the transport capacity of derivatives.
The Challenge of Terrorism: Successful transformation of destroyed and subversive units into productive assets that support vital sectors in the country.
Jaber stressed that "these works come to enhance the company's capabilities and rely on national expertise in maintenance and reconstruction," stressing that "the railways are continuing in its comprehensive plan to modernize its entire fleet to ensure the provision of solid transport services that contribute to the advancement of economic development