For Kurdish Iraq's Women Entrepreneurs, Persistence Pays off

Zilan Serwud, 22, needed family approval before opening her food truck selling burgers in Iraqi Kurdistan. (AFP)
Zilan Serwud, 22, needed family approval before opening her food truck selling burgers in Iraqi Kurdistan. (AFP)
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For Kurdish Iraq's Women Entrepreneurs, Persistence Pays off

Zilan Serwud, 22, needed family approval before opening her food truck selling burgers in Iraqi Kurdistan. (AFP)
Zilan Serwud, 22, needed family approval before opening her food truck selling burgers in Iraqi Kurdistan. (AFP)

Smiling proudly, Zilan Serwud welcomed hungry customers swarming her newly-opened food truck in Kurdish Iraq. But launching the venture required more than just permits and loans: Serwud needed family approval.

Lingering societal prejudice, family pressures and an under-developed private sector have constrained women from breaking into the Iraqi workforce, including in Kurdistan.

That didn't stop 22-year-old Serwud, reported AFP.

She launched Zee Burger in the regional capital Erbil last month, offering no-fuss fare of burgers, fries and onion rings served at small wooden tables.

The journey to get there was nowhere near as simple.

The first step to any female-run business, said Serwud, was convincing relatives the venture would not be looked down on by the Muslim-majority, conservative society.

"I heard some people say: 'she has a father and brother, why should she run the restaurant?'" Serwud told AFP.

"But if you have an idea or want to develop yourself, you should not listen to hearsay."

Her family gave its approval, and she received funding from the German development agency (GIZ) to purchase mobile kitchen equipment.

Serwud's father helped pick out the kitchenware and her brother Bayad even flips burgers part-time in the yellow-and-purple food truck.

"I am super happy now that I have my own business. I feel I've obtained my freedom and am showing everyone this is what I am capable of," said Serwud.

Budding businesses

In Iraq, only 15 percent of working-age women are in the labor force, one of the lowest rates in the world, according to a 2018 demographic survey by the regional government.

Among employed women in Kurdistan, up to 75 percent work in the public sector, making female entrepreneurs an especially rare breed.

The biggest obstacle is defamation by conservative elements of Iraqi society who see economically-autonomous women as too liberal or even promiscuous.

"What actually destroys women in our society is the word 'shameful'," said Diman Fatah, 59, who opened Erbil's first female-run plant nursery and chairs a botanical club with 450 members, including 25 women.

"Women are afraid to innovate or develop themselves because of what other people might say about them," said Fatah.

Some recent comments on the Facebook pages of female-led businesses described the owners as "silly" and insisted that "women are responsible for work at home".

But through solidarity and persistence, a gradual shift has become noticeable.

Besides caring for literal buds, Fatah's club helps women-led ventures flourish by encouraging owners to "be confident".

"Don't give up and don't be silent about your rights," she urges peers.

"When a woman starts her own business in our society, she does not only earn money. She raises awareness about equality and paves the way for other women to enter the market and obtain their freedom," she said.

A 2013 United Nations survey found that 66 percent of Iraqi youth support the right of women to work, compared to just 42 percent among the elderly -- a marked generational improvement.

'Women are resilient'

Avan Jaff, a female Kurdish labor activist who publishes online testimonies of women entrepreneurs, told AFP she had noticed a shift, too.

"It is not because society has become open-minded all of a sudden," said Jaff.

"Yes, some have become more tolerant, but the rest realized that women are resilient and do not give up in pursuing their passion. They think their comments are not effective anymore, so they don't engage," she explained.

Still, a host of challenges remain.

In practice, some Iraqi laws prohibit women from working in particular industries that require physical labor or overnight work.

Women workers who go on maternity leave in Kurdistan are not guaranteed their positions when they return, and many who do start ventures are pressured to cede some decision-making to their male relatives.

"It is the family who decides how to spend the profit or where they should invest, not the women," said Jaff.

About 100 kilometers (60 miles) east in the city of Rania, Shawnem Hussein's Sky Fitness health center boasts 150 female subscribers.

Members dance Zumba and share stories.

"These women are not coming only to work out, but also to mingle, chat with other women and talk about their problems," said Hussein.

One of them, a gym member who asked to remain anonymous, said seeing the success of Sky Fitness had fed her own dreams of opening a restaurant in her hometown.

But, in a sign of the enduring conservatism in some parts of Kurdistan, her husband swiftly shattered her hopes.

"He told me, the day you open the restaurant will be the last day you come home," she said.



Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
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Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth

Gold rebounded on Friday and was set for a weekly gain, helped by bargain hunting, a slightly weaker dollar and lingering concerns over US-Iran talks in Oman, while silver recovered from a 1-1/2-month low.

Spot gold rose 3.1% to $4,916.98 per ounce by 09:31 a.m. ET (1431 GMT), recouping losses posted during a volatile Asia session that followed a fall of 3.9% on Thursday. Bullion was headed for a weekly gain of about 1.3%.

US gold futures for April delivery gained 1% to $4,939.70 per ounce.

The US dollar index fell 0.3%, making greenback-priced bullion cheaper for the overseas buyers.

"The gold market is seeing perceived bargain hunting from bullish traders," said Jim Wyckoff, senior analyst at Kitco Metals.

Iran and the US started high-stakes negotiations via Omani mediation on Friday to try to overcome sharp differences over Tehran's nuclear program.

Wyckoff said gold's rebound lacks momentum and the metal is unlikely to break records without a major geopolitical trigger.

Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.

Spot silver rose 5.3% to $74.98 an ounce after dipping below $65 earlier, but was still headed for its biggest weekly drop since 2011, down over 10.6%, following steep losses last week as well.

"What we're seeing in silver is huge speculation on the long side," said Wyckoff, adding that after years in a boom cycle, gold and silver now appear to be entering a typical commodity bust phase.

CME Group raised margin requirements for gold and silver futures for a third time in two weeks on Thursday to curb risks from heightened market volatility.

Spot platinum added 3.2% to $2,052 per ounce, while palladium gained 4.9% to $1,695.18. Both were down for the week.


Europe, Türkiye Agree to Work Toward Updating Customs Union

European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
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Europe, Türkiye Agree to Work Toward Updating Customs Union

European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal
European Union (R) and Turkish flags fly at the business and financial district of Levent in Istanbul, Türkiye September 4, 2017. REUTERS/Osman Orsal

The European enlargement chief and the Turkish foreign minister said on Friday they had agreed to continue work toward modernizing the EU-Türkiye customs union and to improve its implementation, Reuters reported.

European Commissioner for Enlargement Marta Kos met Turkish Foreign Minister Hakan Fidan in the capital Ankara on Friday.

"They shared a willingness to work for paving the way for the modernization of the Customs Union and to achieve its full potential in order to support competitiveness, and economic security and resilience for both sides," they said in a joint statement afterward.

The sides also welcomed the gradual resumption of European Investment Bank (EIB) operations in Türkiye and said they intended to support projects across the country and neighbouring regions in cooperation with the bank.


Bitcoin Falls 8% and Asian Shares Mostly Slip after Wall Street is Hit by Tech Stock Losses

FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Bitcoin Falls 8% and Asian Shares Mostly Slip after Wall Street is Hit by Tech Stock Losses

FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: Representation of Bitcoin cryptocurrency in this illustration taken September 10, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

US futures and Asian shares traded mostly lower on Friday, tracking Wall Street’s losses as technology stocks again dragged on markets.

Bitcoin sank to roughly half its record price, giving back all it gained since US President Donald Trump won the White House for his second term.

Tokyo’s Nikkei 225 was up 0.8% to 54,253.68, recovering from losses earlier this week, with technology-related stocks leading gains. SoftBank Group rose 2.2% and chipmaker Tokyo Electron rose 2.6%. Japan will also be holding its general election on Sunday, in which Prime Minister Sanae Takaichi expects to win a stronger public mandate for her policies.

Shares of Toyota Motor were up 2%. The carmaker said Friday its CEO Koji Sato will be stepping down in April, and is to be replaced by Chief Financial Officer Kenta Kon, The Associated Press said.

South Korea’s Kospi lost 1.4% to 5,089.14, weighed down by tech shares. Samsung Electronics, the country’s biggest listed company, fell 0.4%. Chipmaker SK Hynix was also down 0.4%.

Hong Kong’s Hang Seng fell 1.4% to 26,519.60. The Shanghai Composite index was down 0.3% to 4,065.58.

In Australia, the S&P/ASX 200 shed 2% to 8,708.80.

Taiwan’s Taiex was mostly flat. India's Sensex traded 0.1% lower.

Against the backdrop of the technology sell-off this week, bitcoin, the world’s largest cryptocurrency, saw dimming enthusiasm and was trading about 8% lower at just under $65,000 early Friday, after it briefly sank over 12% to below $64,000 on Thursday. That’s down from a record of above $124,000 in October.

The future for the S&P 500 was 0.2% lower, while that for the Dow Jones Industrial Average fell 0.1%.

On Thursday, the S&P 500 fell 1.2% to 6,798.40, its sixth loss in the seven days. The Dow Jones Industrial Average fell 1.2% to 48,908.72. The Nasdaq composite dropped 1.6% to 22,540.59.

Technology stocks were among the worst hit as concerns persist over whether massive AI investments by many of the Big Tech firms will pay off.

Chipmaker Qualcomm sank 8.5% despite better-than-expected quarterly revenues. Alphabet lost 0.5% as investors were focused on its huge spendings on AI.

Amazon fell 11% in after hours trading Thursday after it announced plans to boost capital spending by more than 50% to $200 billion in AI and other areas.

American artificial intelligence startup Anthropic ’s new AI tools also fueled the sell-off of software stocks on Wall Street this week, as its sophistication means many traditional software development services and products could be disrupted or replaced.

Gold and silver prices have been volatile this week following a monthslong rally as investors moved into safe haven assets prompted by factors including elevated geopolitical tensions. Gold prices fell 0.6% on Friday to $4,858.60 per ounce, after nearing $5,600 last week.

Silver prices dropped 5.5% to $72.52 per ounce after rising earlier this week. It lost more than 31% last Friday.

In other dealings early Friday, US benchmark crude oil gained 35 cents to $63.64 a barrel. Brent crude, the international standard, rose 36 cents to $67.91 a barrel.

The US dollar fell to 156.74 Japanese yen from 157.03 yen. The euro was trading at $1.1789, up from $1.1777.