World Business Report Dozens die in Iraq shopping centre fire
Jul 17, 2025
Tragedy strikes as a devastating fire in Iraq’s new shopping center claims dozens of lives, sparking outrage over safety regulations. A highlight on Canadian and Japanese corporate governance contrasts approaches to mergers and sustainability. The tech world buzzes with Jensen Huang's visit to China, addressing chip sales amidst geopolitical tensions. Additionally, discussions unfold on drone strikes impacting oil production and the U.S. Space Force's evolving missile defense strategies against adversaries. It's a blend of heart-wrenching news and corporate intrigue.
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Tragic Fire at Kut Hypermall
- The fire at the newly opened Hypermall in Kut, Iraq, quickly engulfed the building causing many casualties.
- Eyewitnesses reported that no proper fire safety measures were in place, worsening the tragedy.
Safety Neglected in New Iraqi Buildings
- New buildings in Iraq often lack proper safety despite modern appearances.
- Investment focuses on attractive features over essential safety measures like fire exits.
Enforce Safety Laws Thoroughly
- Although fire safety laws based on international standards exist in Iraq, enforcement is weak.
- Building owners often cut corners leading to unsafe operating conditions, especially in smaller private buildings.