Cesare Cardone, CEO of Gulf Business Machines (GBM) has said the firm is looking to expand its operation further across the region, eyeing Iraq as one of the countries offering scope for geographic expansion, Trade Arabia has reported. Cardone said the company is ruling out any near-term expansion in Iran due to sanctions. Its business in hardware, servers and storage has declined about 15 to 20% services business are all buffeting the downturn. Cardone mentioned, Abu Dhabi and Qatar as largely untouched by the downturn while Dubai has taken a big hit, and Bahrain posted a positive year for the company.