Iraq · Country watch
Iraq Court Lifts Foreign Ownership Ban, Pharma Imports Approved
Iraq's court lifts a foreign ownership ban, boosting investment prospects, while Newbury Pharma gains import approvals for hospital products.
The picture Improving How this is judged →
Business conditions in Iraq are improving with the lifting of a foreign ownership ban, opening investment opportunities. Newbury Pharma's import approvals further enhance the healthcare sector. These developments signal positive momentum for foreign investors and healthcare providers this week.
Flare-up watch: Calm (0.7) · How this is judged → · All Iraq briefings →
In this briefing Munther Ibrahim Hussein · Federal Supreme Court of Iraq · Revolutionary Command Council · US dollar · Iraqi dinar · Newbury Pharmaceuticals International · Ministry of Health (Iraq)
Regulation
Court Rules Ba'athist Ban on Foreign Ownership Unconstitutional
Iraq's Federal Supreme Court has declared unconstitutional a decree from the dissolved Revolutionary Command Council that restricted foreign nationals from owning assets or investing in Iraqi companies. The court's decision, presided over by Judge Munther Ibrahim Hussein, removes a significant barrier to foreign investment in Iraq. The decree had long been a deterrent for international investors looking to enter the Iraqi market. This ruling is expected to open up new opportunities for foreign capital inflow and partnerships in various sectors, including finance, manufacturing, and retail.
Impact Foreign investors can now own assets and invest in Iraqi companies, increasing capital inflow.
Sources: Iraq Business News ↗
Markets
US Dollar Steady in Baghdad, Rises in Erbil
The exchange rate for the US dollar against the Iraqi dinar remained stable in Baghdad but increased in Erbil, according to Iraqi News. This currency movement reflects regional variations in demand and supply dynamics within Iraq. The steady rate in Baghdad suggests stability in the capital's financial markets, while the increase in Erbil may indicate heightened economic activity or currency demand in the Kurdistan region.
Impact Currency traders and businesses in Erbil face a higher US dollar rate, affecting transaction costs.
Sources: Iraqi News ↗
Trade
Newbury Pharma Gets Import Approvals for 19 Products
The Iraqi Ministry of Health has granted import approvals for 19 hospital products from Newbury Pharmaceuticals International's portfolio. The approvals allow the Swedish company's local distribution partner to import and sell these products in Iraq prior to full product registration. This development, reported by Iraq Business News, marks a significant step for Newbury Pharma in expanding its presence in the Iraqi pharmaceutical market. The products are expected to enhance the availability of medical supplies in Iraqi hospitals.
Impact Iraqi hospitals gain access to 19 new medical products, improving healthcare supply chains.
Sources: Iraq Business News ↗
Nothing significant reported today in Disruption · Internal tension · Safety & health · Companies · Politics.
Also today in the local press
- More Than 180,000 Evacuated as Cyclone Arnab Approaches India’s East Coast — PUKmedia Kurdish
- Oil Prices Rise as Houthi Attacks Threaten Middle East De-escalation Efforts — PUKmedia Kurdish
- In Deadlocked Israeli Election, Netanyahu Has Upper Hand — Lvin Press Kurdish
- أكثر من 10 آلاف إصابة بإيبولا في إفريقيا معظمها في جمهورية الكونغو الديموقراطية - ئيرونيوس — Ahewar.org
- The Quiet Power of International Orders — Lvin Press Kurdish
- Dawn of the Data Centers — Lvin Press Kurdish
- Trump’s Middle East Dealmaking Is Working Against Itself — Lvin Press Kurdish
- Eurobites: Kyivstar acquires GigaCloud for 'sovereign' boost — Iraqi Media Network
Sources in this briefing
Sources: each headline links to the original article on the publisher's site.
The same day elsewhere
- Argentina: Argentina Bonds Rebound; Bunge Plant Closure Protest
- Brazil: New Tax Rate Proposed, Political Boycotts Rise
- Canada: Bank of Canada Rate Hike, New Immigration Fines
- China: China Tightens Cadre Rules, Panama Canal Disrupts Trade
- Colombia: ISA Board Changes, Energy Supply Scrutiny
- Germany: Deutsche Bank Profits, A23 Traffic Chaos
- Egypt: Egypt Diversifies Imports, Sisi in Russia
- Spain: Train Collision Halts AVE, Barcelona Protests Intensify
- France: Senate Approves Content Law, Gas Prices Rise
- United Kingdom: UK Budget Unveiled, Gas Charges Scrapped
- Indonesia: Rupiah Weakens, Student Protests Turn Violent
- Israel: Election Stalemate Hits Markets, Likud Alleges Fraud
- India: Cyclone Arnab Hits, DPDP Law Amendments, AI Power Strain
- Iran: Iran Tightens Emission Rules, Rial Stabilizes
- Italy: Italy Approves 2027 Budget, Diesel Tax Cut Reinstated
- Jordan: Flood Damage Repairs and Fuel Price Hike
- Japan: Chiba Earthquake Hits, Shipping Costs Surge
- Kenya: Tea Levy Suspended, Refugee Crisis at Border
- South Korea: Samsung Faces FTC Penalty, KOSPI Surges 4.54%
- Lebanon: Beirut Airport Power Outage, USD Gains on Euro
- Morocco: Energy Prices Surge, Port Expansions Accelerate
- Mexico: Mexico Visa Fees Surge, Military FDI Veto Approved
- Malaysia: Malaysia-US Trade Surge; Sanglang Port Development
- Nigeria: Dangote Refinery IPO, Lagos Health Insurance Deadline
- Netherlands: Bird Flu Restrictions, Dutch Tax Plan Stalls
- Poland: Fuel Price Changes, Orlen Legal Move
- Portugal: Portugal Budget Passes, CP Strike Canceled
- Russia: Moscow Index Rises, Central Bank Adjusts Rates
- Senegal: Senegal Budget Cuts, Health Measures for Youth Olympics
- Syria: Floods Disrupt Supply Chains, Syria-Iraq Economic Talks
- Turkey: Severe Weather Warnings, Trade Surplus Rise
- Ukraine: Oleshky Truce Holds, Kyiv Power Stable, Drug Supply Issues
- United States: Fed Holds Rates, Weil Gotshal Dissolves
- Vietnam: Vietnam Proposes Tax Relief, Dollar Drops
- Yemen: Aden Airport Attacks; Gulf of Aden Piracy Alert
- South Africa: KZN Protests Escalate, Taxi Violence Erupts