Author: Hunter Rogers

Edita Food Industries, a prominent Egyptian snack food producer, has announced its entry into the Iraqi market through a strategic partnership with Tuama Jebur Abbas (TJA), a Baghdad-based family-owned snack manufacturer. This collaboration signifies a pivotal step in Edita’s regional expansion strategy. Key Details of the Partnership Edita has acquired a 49-percent stake in TJA for $8 million via a capital increase. This investment marks a strategic shift for Edita, transitioning from an export-driven model to establishing local manufacturing capabilities in Iraq. Under the partnership, a new entity named Edita Iraq will be created, operating under a UAE-based holding company.…

Edita Food Industries, a leading Egyptian snack food producer, has officially announced its entry into the Iraqi market. This strategic expansion is being facilitated through a partnership with Baghdad-based Tuama Jebur Abbas (TJA), marking a significant milestone in Edita’s regional growth strategy. Under this agreement, Edita acquires a 49-percent stake in TJA, a family-owned snack manufacturer, for $8 million via a capital increase. This partnership not only solidifies Edita’s presence in Iraq but also signals a shift from an export-driven approach to local manufacturing, aligning with the company’s long-term growth objectives. Investment and Operational Plans As part of the collaboration,…

Iraq’s electricity sector is poised for a significant transformation, thanks to a landmark cooperation agreement signed by Iraq’s Minister of Electricity, Ziad Ali Fadhil, and U.S.-based Stellar Energy. This agreement, coupled with a memorandum of understanding, sets the stage for a series of strategic projects aimed at bolstering Iraq’s power infrastructure and addressing the country’s longstanding energy challenges. Key Highlights of the Agreement The agreement unfolds in two critical phases, each targeting specific aspects of Iraq’s electricity sector. Phase One: Building Infrastructure The initial phase emphasizes the construction of an integrated network of substations, which will be financed through the…

Last month, Iraq Business News published an insightful article delving into the intriguing connection between support for Donald Trump and the persistent belief in the Iraqi Dinar (IQD) revaluation theory. This theory suggests that the IQD could undergo a massive revaluation, increasing its value by as much as 1,000 times its current rate. The Context: Trump’s Presidency and the Revaluation Hopes As Donald Trump was sworn in yesterday as the 47th President of the United States, discussions around the revaluation theory have gained renewed momentum among his supporters. Many believe that his administration could pave the way for what they…

As part of his official visit to the United Kingdom, Prime Minister Mohammed Shia Al Sudani led a high-profile delegation, and the Iraq Britain Business Council (IBBC) was honoured to host a special business reception in his honour. The event, held on January 15th at the prestigious Institute of Civil Engineers in Westminster, provided a platform for key stakeholders to discuss Iraq’s future economic growth and opportunities for British companies. The reception was organized in partnership with the Department for Business and Trade (DBT) and the Foreign, Commonwealth & Development Office (FCDO). Distinguished Attendees The reception was attended by several…

Prime Minister Mohammed S. Al-Sudani recently met with a high-level delegation from the European Bank for Reconstruction and Development (EBRD), headed by the bank’s president, Ms. Odile Renaud-Basso. The key purpose of the meeting was to deepen the partnership between Iraq and the EBRD, focusing on critical areas such as infrastructure, renewable energy, and the development of Iraq’s private and banking sectors. This collaboration is essential for Iraq’s long-term economic and sustainable growth. Importance of Iraq’s Accession to EBRD Prime Minister Al-Sudani began the meeting by acknowledging the EBRD’s approval of Iraq’s membership in October of the previous year. The…

Prime Minister Mohammed S. Al-Sudani recently participated in a significant financial forum in London as part of his official visit to the United Kingdom. This forum, which brought together key players from British financial institutions, Iraqi private sector representatives, and government officials, served as a platform to discuss strategic collaborations aimed at fostering economic growth and investment opportunities in Iraq. Strengthening Iraq-UK Relations During his address, Prime Minister Al-Sudani emphasized that the visit marked a new era of bilateral cooperation between Iraq and the UK. He highlighted the importance of translating recently signed strategic agreements and memoranda of understanding into…

The Kurdistan Regional Government (KRG) has taken a significant step in promoting financial inclusion and advancing digital payment solutions through its strategic partnership with Visa, a global leader in digital payments. This collaboration marks a key milestone in the KRG’s mission to modernize its financial ecosystem and reduce reliance on cash transactions in the Kurdistan Region of Iraq. The Strategic Partnership: An Overview The partnership between KRG’s financial inclusion initiative, ‘MyAccount,’ and Visa aims to enhance the adoption of digital payments and broaden access to financial services. Visa will work closely with the KRG, issuers, and acquirers to: Empowering Financial…