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  • Investors Iraq News's Avatar
    Today, 05:53 AM
    Prime Minister Nechirvan Barzani received the new Consul General of Germany to the Kurdistan Region, Ms. Barbara Wolf and her accompanying delegation. In the meeting, which was also attended by Kurdistan Regional Government’s representative in Germany, Mr. Dilshad Barzani, Consul General Wolf thanked the KRG for its assistance to the German Consulate General in Erbil. She stressed further developing bilateral relations and cooperation with the Kurdistan Region. She reiterated the continuation of humanitarian and military assistance, provided by Germany to the Kurdistan Region. She also stressed encouraging German companies to invest in the Region. Prime Minister Barzani congratulated Consul General Wolf for her new position and wished her success in her duties. He thanked the German government for its humanitarian and military support to the Kurdistan Region, particularly in the field of the reform of the Ministry of Peshmerga Affairs. He expressed his government’s desire to further strengthening bilateral relations. The formation of the new Iraqi government and the developments in the wider region were also discussed in the meeting. (Source: KRG) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 14 view(s)
  • Investors Iraq News's Avatar
    Today, 05:53 AM
    Jordanian Prime Minister, Omar Razzaz, on Monday met with Iraqi Defence Minister, Irfan Hayali, to discuss the Jordanian-Iraqi relations. Razzaz underlined the depth of the historic Jordanian-Iraqi relations and the keenness to enhance joint cooperation to serve the interests of both countries and their peoples. The premier also pointed to the directives of His Majesty King Abdullah II to increase cooperation and integration between the two countries. Hayali conveyed the greetings of Iraqi Prime Minister, Haider al-Abadi, to the prime minister as well as his keenness to cooperate in all civil and military fields. He pointed to the importance of the agreement signed yesterday between the two countries on military and security cooperation, exchange of expertise and information in the field of border protection, capacity development, and combating terrorism. The meeting also dealt with the Turaibeel border crossing and the need to focus on promoting trade and investment exchange and establishing a joint industrial zone near the border between the two countries. (Source: Petra) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 16 view(s)
  • Investors Iraq News's Avatar
    Today, 05:53 AM
    Petrofac has been awarded a contract worth around US$370 million by Basra Oil Company (BOC) for expansion of the Central Processing Facility (CPF), located in the Majnoon Field, Southern Iraq. Under the terms of the 34-month contract, the lump-sum engineering, procurement and construction (EPC) project scope of work includes two oil processing trains, able to process 200 kbopd. Petrofac was previously awarded a contract in 2011 and delivered engineering, procurement and construction management for the execution and completion of the existing CPF at Majnoon. Elie Lahoud, Group Managing Director, Engineering & Construction – Iraq, Oman and Saudi Arabia, commented: “We have developed a significant track record in Iraq with enhanced local delivery, successfully providing services both onshore and offshore since 2010. This important contract win demonstrates Petrofac’s long-lasting client relationships and our ongoing commitment to extending our operations in this key market that complements our broad service capabilities, international experience and expertise.” (Source: Petrofac) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 16 view(s)
  • Investors Iraq News's Avatar
    Today, 03:52 AM
    By Fazel Hawramy for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.* Will Riyadh-Tehran rivalry kill Iraqi Kurdistan’s investment drive? Iraqi Kurdistan,*facing*an*acute financial crisis, has a newfound opportunity to attract desperately needed foreign investment from*Saudi*Arabia, but regional tensions between Tehran*and Riyadh could hamper its*efforts. A large Saudi trade delegation led by Sami Bin Abdullah al-Obeidi, chairperson of the Council of Saudi Chambers, and accompanied by the Saudi ambassador to Iraq and the consul general to Erbil, visited the Iraqi Kurdistan Region July 23-25, meeting*with business leaders and government officials, including Prime Minister Nechirvan*Barzani, to explore economic opportunities in the energy, agricultural, industry and tourism sectors. Although no agreements were signed, the parties agreed to work toward*expanding economic relations, as Saudi Arabia plans to establish a direct trade link from its Arar border crossing into Anbar province and on to the Kurdistan region. Click here to read more. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 22 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 08:31 AM
    By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Below is the full Arabic text and source of what was reportedly said by Abdul Alal AL-Yassiry, the Chairman of the Iraqi Centre for Economic and Investment Consultation in Karbala. What prompts me to write this commentary is only the inaccuracy of data and information he cited regarding SOMO. In other words I am not defending SOMO; its staff can and should defend themselves. Also, I am not discussing here the corruption issue, which undoubtedly and emphatically plaguing Iraq, particularly by the political parties and provincial councils; these can be discussed separately. I will provide what he says then make my comment. First; He says “SOMO sales 4 million barrels daily-4mbd”! Official data does not support this assertion at all; oil exports by SOMO during the last ten years increased from 1.879 mbd during July 2008 to 3.543 mbd in July 2018. Hence, his figure is absolutely incorrect. Second; He also says “SOMO sales oil to the companies at $10 discount of the bourse price; this is called commission”. This is also incorrect for the following reasons; SOMO does not sale all its oil through bourse (stock exchange) or according to bourse prices; however, SOMO sold a few shipments, of 2 million barrels each, through Dubai Mercantile Exchange-DME auctions since April 2017; SOMO’s marketing procedure and modality is primarily based on annually arranged “Term Contract” and the monthly export price is decided by a ministerial committee using at least three pricing equations for the three major market destinations (North America, Europe and east Asia) with different marker crudes taking into consideration the quality of the crude (API) and, specifically, sulphur contents; I have been following SOMO for years and never observed such discounts or “commission” of $10 a barrel! Between January 2016 and June 2017 oil export price for a barrel ranged between $22.21 and $42.2; can anyone believe or imagen that SOMO gives 45% and 23.7% of its officially adopted and declared price that easy without causing devastating outcry against it and the Ministry of Oil!!! Third; in his explanation or justification for this “commission” it “compensates loading loses and what is known vaporisation” Actual loading of oil into the tanker is rather rigorous operation done in the presence of the “measurement committee” and after issuing at least 13 different certificates; then SOC/now Basra Oil Company-BOC submits all these certificates to SOMO before loading oil to the tanker takes place. Nothing in these certificates refers to vaporisation that justifies such huge discount or commission. Moreover, neither oil chemistry nor different metering instruments support his claims. Fourth; Then he asserts, “What is important, these companies came through the political parties” According to Iraqi and international data the annual number of companies that buy Iraqi oil- international oil buyers-IOBs during the last 15 years ranges between 34 to 45 IOBs. Most of these IOBs are well known and many of them were also SOMO’ clients well prior to 2003. Therefore, to claim that these IOBs came through the political parties is, apart from been erroneous, it elevates the international networking and impacts of these political parties, which is laughable, but, more seriously, accuse these IOBs with “collusion”, which renders him subject to legal action. Moreover, all IEITI annual reports (prepared by different international specialised firms) provide, among others, reconciliation of oil export revenues paid by IOBs, received by SOMO and deposited in a New York bank, and provide explanation of any discrepancies over small “materiality threshold”. None of these reports provide any information supportive of his allegations. Fifth; He alleged that, “the political parties take $2 a barrel from that commission while the companies keep the $8” But he did not explain or tell: When, where and how this 2:8 split of the commission was agreed between all political parties and all IOBs; Was SOMO involved in that agreement? Oil exports occur through many shipments to each IOB for each year, so what are the modalities each political party uses to secure its share from the commission for each shipment? What are the modalities for actual payments from each IOB to each political party; to which banks these payments were transferred and deposited and what are the material evidences for such payments etc.? How come there was no discrepancy in distributing that commission as if all political parties and all IOBs work in perfect harmony!! From and based on the above comments I conclude: His knowledge and understanding of oil export system need serious revision and improvement; Allegations he made are very serious indeed and without strong, emphatic evidence, he could face legal action by SOMO/Ministry of Oil, each political party and each IOB; As he is the chairman of a consulting centre, what he had said undermines, damage and tarnish the credibility, objectivity and professionalism of his centre. Ahmed Mousa Jiyad, Iraq/ Development Consultancy & Research, Norway. 12 August 2018 —————– 11-08-2018**23:57**0**1102 ??????? ????? :???? ?????? ????? ?????? ??????? ??? ?????????? ???? ?????? ??????? ?????????? ?????????? ???????????? ?? ?????? ?? ????? ???? ?????? ?????? ????????? ?? ????? ??????* ????? ??? ???? ?? ??????? ???? ????????* ????? ??????* ?? ????? ??????? ?????? ?????* ?????* ?? ?????????? ?? ?? ??? ?????? ??????? ??????? ???????? ????? ???? ?? ??? ??? ?? ?? ????. ??? ??? ????? ??????? ?????? ??? ??????? ?????? ???????? ?? ???? ??????? ????????? ???? ?????? ????? ??* ” ?? ??????? ????? ????? ????? ??? ?????? ?????? ????? ??????? ??????? ?? ??????? ??? ???? ????? ?? ??? ??? ??? ????? ????? ???? ??? ??? ????? ?? ??? ??? ???? ?????? ???????? ??? ???? ??? ??? ??????? ?????? ????? ??? ???? ??????? ?? ? ??? ? ????? ????? ?????!!! ?? ??? ????? ????? ????? ??? ??? ?? ??? ????? ????? ????? ?? ??? ??? ?????? ?????” , ???? ?? ??????? ???????? ?????? ??????. ????? ???? ??? ??? ???? ???? ????? ????? ???? ????? ? ????? ????? ??? ??????? ??? ??? ??????? ???? ?? ????? ?? ?????? ???? ???????? ?? ???? ???? ??????? ?????? ???????? ????? ??????? ??? ???? ???????.????? ??? ??????? ???? ?? ???? ????? ?????? ??? ?????? ??????? ?? ??????? ?? ??? ??????? ??? ?????? ??? ???? ????? ????? ? ??????? ?????? ????? ?$×? ????? ????? =? ????? ????? ????? ??????? ???????. ?????? ??????? ???? ??? ???? ???? ???? ???? ?????? ?????? ????? ????? ” ?? ?? ????? ?? ????? ????????? ?? ?????? ??????? ??????? ??? ??? ???? ?????? ??? ????? ??? ??????? ???? ??? ???? ?? ??? ?? ???? ??????? ???? ???????“. ????? ??????? http://www.non14.net/102748/ Mr Jiyad is an independent development consultant, scholar and Associate with the former Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya(at)online.no, Skype ID: Ahmed Mousa Jiyad). Read more of Mr Jiyad’s biography here. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 49 view(s)
  • michaelb4348's Avatar
    Yesterday, 07:30 AM
    2008 you been saying this
    141 replies | 21326 view(s)
  • michaelb4348's Avatar
    Yesterday, 07:29 AM
    Sure thing
    141 replies | 21326 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 06:10 AM
    By John Lee. Turkish and Iraqi officials have reportedly announced plans for a feasibility study in advance of opening a new border crossing point 12 kilometers west of Habur. The new crossing would be named Ovaköy. (Source: Hurriyet Daily News) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 33 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 06:10 AM
    Germany’s Siemens will upgrade one of the country’s largest gas-fired power plants. Under a new contract, Siemens will add 650 megawatts (MW) to Shatt Al Basra Gas Power Plant, which currently has a power generation capacity of 1,250 MW and consists of non-Siemens turbines operating in simple-cycle mode. Siemens will supply five of its highly-efficient steam turbines, ensuring the additional power supply comes at no extra fuel requirement. With this upgrade, the facility will be converted to operating in combined cycle mode and its overall efficiency will increase to more than 50 percent. Once the works are completed, the power plant will supply around one million Iraqis with reliable and clean electricity. Siemens was awarded the contract by China Machinery Engineering Corporation (CMEC). The developer of the project is KAR Electrical Power Production Trading FZE (KEPPT). Earlier this year, Siemens was contracted to supply two of its robust SST-5000 steam turbines to a similar project in Rumaila in Iraq, making it the first large-scale open cycle conversion project in the country. The upgrade works for both the Rumaila and the Shatt Al Basra power plants are scheduled for completion by 2020. Jean-Claude Nasr (pictured), Senior Executive Vice President, Power Generation at Siemens in the Middle East, said: “Iraq is rebuilding its power infrastructure and we are eager to support the country’s future aspirations. A reliable and efficient power supply is the backbone of a prosperous economy and today’s announcement underscores an important step towards realizing Iraq’s aspirations towards building a robust power system and a sustainable economy for its people.” Siemens recently received an order to modernize the Rumaila gas-fired power plant in Iraq, adding 700 MW to the plant. The scope of supply includes two SST-5000 steam turbines. From energy supply and industry to financing and training, Siemens outlined its roadmap and commitment to supporting the development of Iraq in February at the Iraq reconstruction conference held in Kuwait. The roadmap identified the country’s short, mid and long-term development needs. It focused on key areas including energy management, resource efficiency, education, anti-corruption and financing. It detailed how Siemens can support the country’s transformation. Siemens envisions 40 million Iraqis living in vibrant cities, powered by reliable and efficient energy; a strong industrial sector and sustainable economic development, led by world-class, home-grown talent. (Source: Siemens) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 33 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 04:03 AM
    The Iraqi Cabinet held its weekly regular meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Haider Al-Abadi. It approved funding to support the implementation of measures to improve public services, with a focus on electricity supply, water, health and education. It also discussed a range of policies to encourage foreign investment, and agreed measures to streamline and simplify procedures for individual investors and companies applying for entry visas and residency permits. (Source: Govt of Iraq) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 41 view(s)
  • Investors Iraq News's Avatar
    08-12-2018, 04:07 AM
    Prime Minister Nechirvan Barzani chaired the 49th regular session of the Council of Ministers on Tuesday. It was also attended by Deputy Prime Minister Qubad Talabani. Prime Minister Barzani briefed the Council about his recent visit to Baghdad and meeting with Prime Minister Haider al-Abadi. He said, they agreed to continue dialogue and coordination and demanded implementation of the Iraqi Council of Representatives decision to unify salaries and privileges of the families of the martyrs and Anfal victims in the Region with those of their counterparts in the federal government. They also discussed reopening the Erbil-Kirkuk road and the readiness of the KRG to export Kirkuk oil. Regarding the new Iraqi government, Prime Minister Barzani emphasized the KRG has no veto against anyone. While protecting common interests, he said what is important to the Kurdistan Region is the new government’s programme that would help to materialize the rights and the constitutional authorities of the Kurdistan Region. Minister of Martyrs and Anfal Affairs Mahmood Haji Salih and Secretary of the Council of Ministers Dr. Amanj Rahim presented a report on the latest developments in the effort towards international recognition of the crimes committed by ISIS against Yezidis and other ethnic and religious communities as genocide, and on UN Security Council’s Resolution 2379 to form a team to investigate this situation. The Council of Ministers affirmed the Security Council Resolution to be an important step towards recognizing these crimes as genocide. The Council of Ministers assigned the High Commission on Recognition of ISIS Crimes as Genocide to coordinate with the international team. Prime Minister Barzani instructed the commission to deliver to the UN team all evidence collected during the past four years about crimes against humanity and acts of genocide directed at Yezidis, Christians, and all other communities to apply justice to perpetrators to the full extent of the law and to compensate the victims and their families. The Council of Ministers called on the Iraqi federal government to take into account the involvement of legal practitioners, experts, and other representatives of the Kurdistan Region in the implementation of the Security Council Resolution. The Council of Ministers re-emphasized its policy that protects religious rights and freedoms as basic principles of human rights, believes a nation’s strength lies in its diversity, and that the KRG will continue to endeavor to make the Kurdistan Region a safe place for all members of society. 2019 budget draft The Council of Ministers also discussed the 2019 budget draft. KRG Minister of Finance and Economy, Rebaz Hamlan, presented a report on the 2019 budget draft, a process suspended since 2014 due to the financial crisis. He informed about steps being taken to estimate general revenues and expenditures in collaboration with ministries. The Council of Ministers expressed its support and called upon all ministers to coordinate with the Ministry of Finance and Economy as well as the Ministry of Planning. In a press conference after the meeting, Prime Minister Barzani briefed the media on latest development in the region. Regarding reports suggesting that US Special Envoy Brett McGurk urged postponement of the September 30th Kurdistan election, Prime Minister Barzani stated, “There is nothing like that. He hasn’t discussed this issue with us. What has been discussed is whether elections will be held or not. Yes, they will be held on time. No talk of postponing elections by Mr. Brett McGurk with us has happened. Up to the moment, no political party in Kurdistan Region has asked that the September 30th elections be postponed. If I speak as the KDP, we from the Kurdistan Democratic Party emphasize that elections need to be held at their scheduled time.” About negotiations with Baghdad on various issues, Prime Minister Barzani said, “There are some principles important in negotiations with Baghdad. It is very important for the people of Kurdistan and for all parties to jointly participate in this process. Serious talks will begin after manual vote counting is concluded and the results are officially confirmed and announced by the Iraqi Federal Court. Regarding trade between the Kurdistan Region and Islamic Republic of Iran after the sanctions were reimposed on Iran by the US Government, Prime Minister Barzani said, “Until now, the sanctions are not clear to us. But certainly, the Kurdistan Region will take steps within the framework and position of Iraq. We asked the US and talked with Baghdad to make it clear to us. We asked and await the US to send a delegation to explain what exactly should and should not be done.” Regarding the Rosneft agreement and any tension with Baghdad, he said, “What we have done with Rosneft is a commercial matter. Our contracts are within the framework of the Iraqi Constitution.” He also said, “Now that Baghdad can’t practically export Kirkuk oil, which is about 250 to 300 thousand barrels per day, we have told them we are ready to facilitate export to Ceyhan port where Iraq’s State Oil Marketing Organization, SOMO, can sell the oil and, of course, all revenue will be for all Iraq. (Source: KRG) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 57 view(s)
  • Investors Iraq News's Avatar
    08-11-2018, 09:41 PM
    GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments across the country. Please click here to download the latest report free of charge. For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at daniel.matthews@garda.com Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 60 view(s)
  • dollarsign's Avatar
    08-11-2018, 08:51 PM
    The latest issue came out as the CBI updated their currency section https://mriguide.com/ Hmmm... ​$
    2 replies | 181 view(s)
  • crazyfrank's Avatar
    08-11-2018, 06:13 PM
    ok now thinking this through more now, and looking at what they have posted, I think its safe to make some further "assumptions" based on what they have now presented to us. its apparent they have updated the web site with "specimen" category currency on display this would have a purpose for currency verification, but its not enough for a bank teller to just be able to view an image for verification purposes when you go to a domestic bank and present currency, lets say you need quarters for the laundry, and ask the teller for $100 in quarters using one single $100 USD bill, the bank teller has standard instructions to verify authenticity. They go thru a quick progression of that process, look for certain markers, watermark, feel paper quality, embedded strip, and quality. My guess is by law each bank may be required to have a "bench mark" currency in house to physically compare submitted suspicious bills. This would apply to many/all currencies not just the IQD. They simply would not just go look at a image off a web site if there was an issue. The CBI images display serial numbers of each "specimen" shown, and they don't display s/n 0001. The 2013 issue 10k Dinar note shows it s/n 1778, so its safe to assume there are at least 1,778 of them. They all would need to be controlled, and maintained as primo master copies Each bank in Iraq certainly would need one of each, in a set. Any other financial institution (bank) that intends to negotiate this currency would also need one set of each "specimen", and that number could be astronomical.
    2 replies | 181 view(s)
  • crazyfrank's Avatar
    08-11-2018, 02:39 PM
    In the last few days the CBI web site has posted a revised pictorial view of all the Dinar currency officially blessed to be in circulation. They have now super imposed a watermark type script diagonally over each pictorial of each currency with the word "specimen" on all currency on display. And some sharp eyes have now seen a second change within the last few days of this new image. As if you look closely at the lower left bottom corner of each image you will see a "specimen serial number", this was the second recent revision. Does this indicate a forward preemptive move by the CBI for future verification processing, if/when something should suddenly change? as overseas banks, not familiar with this currency, begin to see a flood of peeps looking to cash these in? yes?
    2 replies | 181 view(s)
  • Investors Iraq News's Avatar
    08-11-2018, 03:55 AM
    AFP reports that with players banned from travel, executives sacked and a national squad that just withdrew from the Asian Games, Iraqi football is paying the price for a string of age fraud scandals. Read more here. (Source: AFP) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 72 view(s)
  • Brazileiro's Avatar
    08-10-2018, 11:53 PM
    ya gotta love it!!!
    342 replies | 8724 view(s)
  • crazyfrank's Avatar
    08-10-2018, 10:02 PM
    yes who is this Al Wasata company? and how is it they have a Warka e-mail domain identity? Their web site shows they are a fully function brokerage service, but no relationship is seen with Al Warka Bank http://www.alwasata.ps/index.php?lang=en&page=122259379621 Their web site describes them as a brokerage company with three branches in Gaza, Palestine? Head Office 9th floor Bank Of Palestine Building, Omar El Mokhtar st , Al Remal Gaza ,Palestine P.O Box :1213 Tel: 1700 500 300 Fax: +970 8 2886050 Ramallah Branch Bank of Palestine, Safad Building, Mahmoud Darweesh Square, Al Masyoun Ramallah ,Palestine Tel: 1700 500 300 Fax: +970 2 2975373 Khanyounes Branch 3rd Floor Bank of Palestine Building, Jalal St., Khanyounes Al Balad Khanyounus, Palestine Tel:+970 8 2063305 Fax: +970 8 2063309 They post that they are a Licensed broker on 4 other middle east stock exchanges.......and the ISX is not listed. We are licensed by the Capital Markets Authority to provide Brocker trading services and Issuance Trustee Services in Palestine Stock Exchange. We also provide trading services in selected regional markets: Amman Stock Exchange. (ASE) Dubai Financial Market. (DFM) Abu Dhabi Stock Exchange. (ADX) Cairo & Alexandria Stoke Exchange (CASE) I would be very anxious to hear what Mr. I might respond to these type questions...... but if he confirms there is linkage, I think we may be on to something aye?
    46 replies | 3245 view(s)
  • Wolverine's Avatar
    08-10-2018, 08:16 PM
    342 replies | 8724 view(s)
  • Investors Iraq News's Avatar
    08-10-2018, 01:40 PM
    By John Lee. The National Investment Commission (NIC) has announced new investment opportunities in Iraq: Glass production, State Company for Glass and Refractories Industry (SCGR) Drugs and Medical Appliances (Samarra), State Company for Drugs and Medical Appliances (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 76 view(s)
  • Investors Iraq News's Avatar
    08-10-2018, 01:40 PM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th Aug 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD743 (-1.0%) / $797 (-1.0%) (weekly change) (-8.4% and -4.6% YTD change, respectively). The number of week traded shares was 36.7bn and the weekly trading volume was IQD11.8bn ($9.7 mn). ISX Company Announcements National company for Tourism Investment (HNTI) will hold an AGM* on Sep. 2, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of HNTI starting Aug. 28, 2018. ISX announced that Trust International Islamic Bank (BTRU), having a capital of IQD250bn paid-in capital, has completed the listing procedures. BTRU will start trading in the non-regular market starting Aug. 12, 2018. The opening price will be free for the first three sessions and then will have +/-20% price change limit. Iraqi Land Transport Company (SILT) announced that the resumption of trucks’ transportation with Jordan will be resumed soon. Agreement was signed for the entry of the trucks of both countries. (Iraq Trade Link) Al -Khazer for Construction Materials (IKHC) replied ISX request on Aug. 9, 2018 explaining their inability to provide 2017 annual financial reports due to the occupation of ISIS over the company. They also mentioned that the company’s production has stopped due to the damage of most of its equipment. Ashur International Bank (BASH) resumed trading on Aug. 8, 2018 after discussing and approving 2017 annual financial results and to distribute 1% cash dividend (IQD0.01 dividend per share, 3.3% dividend yield). Gulf Commercial Bank (BGUC) announced that the CBI approved the assignment of Adil Nuri Al-Alim as the new CEO of BGUC on Jul. 25, 2018. The following companies were suspended from trading on Aug. 8, 2018 for not disclosing their 2017 annual financial results: AMAP, BBAY, BDFD, BDSI, BIME, BLAD, BNOR, BQAB, BROI, BUOI, HASH, HBAG, HBAY, HISH, HPAL, HTVM, IELI, IHFI, IHLI, IICM, IIEW, IKHC, IKLV, IMCM, IMIB, IMPI, INCP, ITLI, SBAG, SIGT, SILT, SMOF and VKHF. International Islamic Bank (BINT) resumed trading on Aug. 6, after discussing and approving 2017 annual financial results and to distribute 1.54% cash dividend (IQD0.0154 dividend per share, 1.5% dividend yield). Cross Transactions: 16 bn shares of Mosul Bank (BMFI) on Aug. 5, 2018, which represents 6.3% of BMFI capital. 13.5 bn shares of Al-Noor for Money Transfer Co. (MTNN) on Aug. 7, 2018, which represents 29.9% of MTNN capital. 255 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Aug. 8, 2018, which represents 0.1% of BCIH capital. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 77 view(s)
  • Investors Iraq News's Avatar
    08-10-2018, 01:40 PM
    By John Lee. Moqtada al-Sadr has reportedly retained his lead in Iraq’s parliamentary election following a full recount. According to Xinhua, the results showed no change in 13 of Iraq’s 18 provinces, and changes in four provinces involving five seat-winners within their own coalitions. The recount did not alter the initial results significantly, with Sadr keeping his total of 54 seats. (Sources: Reuters, Xinhua) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 74 view(s)
  • Wolverine's Avatar
    08-10-2018, 01:33 AM
    342 replies | 8724 view(s)
  • dinar_dude's Avatar
    08-09-2018, 08:11 PM
    I got the same email today (9 August). Thanks for attempting to verify through Mr. Issa.
    46 replies | 3245 view(s)
  • Brazileiro's Avatar
    08-09-2018, 11:49 AM
    HB, did you email this addy? al-wasata.co@warka-bank-iq.com I sent them an email this morning asking if they are able to buy/sell stocks for clients. The email was read so I'll update if I get any response from them.
    46 replies | 3245 view(s)
  • BatmaninIraq's Avatar
    08-09-2018, 10:26 AM
    Mastercard’s MoU With Central Bank of Iraq Signals Bright Future for the Country’s Emerging Digital Payments Ecosystem August 08, 2018 In a move that underlines its commitment to supporting Iraq’s emerging digital landscape, Mastercard, a leading technology company in the global payments industry, recently signed a Memorandum of Understanding (MoU) with the Central Bank of Iraq (CBI), aimed at accelerating the development of a strong payments ecosystem in the country. As part of the MoU, Mastercard and CBI will explore areas of potential collaboration across a broad spectrum of initiatives, including electronic payment strategy and policies, fraud management, financial inclusion, advisory services, and acceptance solutions. A joint working group will be created featuring representatives from both organizations, which will be tasked with assessing each aspect of the partnership and developing an actionable business plan. According to The Little Data Book on Financial Inclusion 2018 by World Bank Group, only 20.3% of adults in Iraq own a financial institution account, 4.2% have a mobile money account and 19.1% made or received digital payments in the past year, indicating a significant opportunity to drive the development of an inclusive financial sector in the market, which can be accelerated through a wider adoption of electronic payments. The collaboration between Mastercard and CBI is set to provide greater access to convenient and secure electronic payments solutions in Iraq, increasing the rate of economic development and assisting the government’s efforts to implement an inclusive growth strategy. In addition, Mastercard will commit to dedicating a senior resource to steer the company’s expansion plans in the country. The appointment will deliver greater value for its growing customer base by ensuring that key stakeholders have access to all necessary support. H.E. Dr. Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq, said: “The signing of this MoU represents an important step on the road to developing and enhancing Iraq’s digital payments ecosystem. Mastercard’s global industry standing and reputation for innovation make this collaboration the logical choice for CBI as we look towards strengthening the nation’s economy and improving access to secure and reliable banking services for its citizens.” Khalid Elgibali, Division President, MENA, Mastercard, said: “Today’s agreement reflects the trust governments around the world place in Mastercard’s innovative technologies and payments solutions, which we will leverage to boost financial inclusion and provide increased convenience and security for consumers in this rapidly evolving market. We look forward to deepening our connections in Iraq through close collaboration with the CBI and our commitment to dedicate a senior resource to oversee operations in the country.” The signing of the MoU was announced on the sidelines of the International Arab Banking Summit 2018, which took place from 28 to 29 June at the Peninsula Hotel in Paris, France. Mastercard was the official technology partner for the summit and also sponsored the event’s awards ceremony, during which H.E. Dr. Ali Mohsen Al-Alaq was honored as “Governor of the Year 2018”.
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