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  • Investors Iraq News's Avatar
    Today, 12:57 AM
    The German Ministry of Foreign Affairs has contributed an additional EUR 22 million to the UNDP Funding Facility for Stabilization (FFS), which finances fast-track initiatives in areas of Iraq liberated from the Islamic State of Iraq and the Levant (ISIL). This brings the Ministry’s contribution to EUR 80.2 million and the total support from the Government of Germany to EUR 209.9 million. Acting UNDP Resident Representative for Iraq, Mr. Gerardo Noto, said: “Enormous progress continues to be made across the liberated areas of Iraq, with seventy percent of those who were displaced during the conflict now returned home. UNDP deeply appreciates the timely funding provided by the German Ministry of Foreign Affairs, and while there remains a great deal of work to do, this generous contribution will help re-establish public services and rebuild social cohesion in the most vulnerable areas.” The German Ambassador to Iraq, H.E. Dr. Cyrill Nunn, said: “Germany continues to support Iraq’s stabilization efforts to shore up the progress made to date. As we look to the new Government to step forward to take increasing ownership of stabilisation and more long term development efforts, we will remain a committed partner for the people of Iraq and a strong supporter of the efforts of the United Nations.” In addition to its Ministry of Foreign Affairs, Germany also contributes to FFS through its Ministry for Economic Cooperation and Development implemented by KfW, the German development bank. At the request of the Government of Iraq, UNDP established the FFS in June 2015 to facilitate the return of displaced Iraqis, lay the groundwork for reconstruction and recovery, and safeguard against the resurgence of violence and extremism. The Facility has a portfolio of over 3,000 projects – half of which are already completed – in the provinces of Ninewah, Anbar, Salah Al-Din, Diyala and Kirkuk. The FFS repairs essential public infrastructure such as electricity, water and sewage system grids. It rebuilds schools, health centres and homes, and provides people with short-term employment through public works schemes in areas directly impacted by ISIL. This investment in critical services sets the stage for recovery and resilience work, as well as longer-term reconstruction and development activities. Over 95 percent of all stabilization projects are carried out by local private sector companies, providing a key source of employment for local people. (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Today, 12:57 AM
    By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. According to the head of the literacy department at the Directorate General of Education in Basra, Karim Handhal Abdul Karim, student participation in literacy centers in Iraq’s southern province of Basra has*dwindled in 2018*by more than two-thirds compared to 2013. Abdul Karim told the press Nov. 22: “It is such a big contrast when comparing this year’s figures to those of 2013. The number of students in Basra’s 339 literacy*centers amounted to over 39,000 in 2013. In 2018, however, only 1,200 students were enrolled in the 21 centers in the province.” He attributed the decline to the fact that students enrolled in literacy centers are no longer*paid by the government for taking classes at these centers. Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Today, 12:57 AM
    From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqis forces parade and celebrate in the streets of Mosul as they mark a year since Iraq declared victory against the Islamic State group, the conclusion of a three-year battle to oust the jihadists. View on YouTube Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Today, 12:57 AM
    As Nadia Murad (pictured), the Yazidi activist and survivor of gender-based violence is honored with the Nobel Prize for Peace, UNICEF is calling attention to the plight of hundreds of thousands of internally displaced children in Iraq whose lives are threatened by freezing temperatures and floods that have affected large parts of the country. “As the world celebrates Nadia Murad’s incredible story of survival and her work for human rights, let us remember that there are many vulnerable children in Iraq who still need our support, even if the worse of the violence may be over” said Peter Hawkins, UNICEF Representative in Iraq. Winters in Iraq are harsh. It rains and snows and temperatures can fall below zero in the northern part of the country, where a majority of Yazidi and other displaced children live. Most displaced families live below the poverty line, in dilapidated housing with poor heating, or in camps with little protection from the cold. It impossible to afford fuel for heating and winter clothing to keep their children warm. “The devastating floods have made this winter even more difficult for displaced children who are extremely vulnerable to hypothermia and respiratory diseases. No child should be subjected to such risks. Every child deserves to be warm and healthy,” added Mr. Hawkins. UNICEF is providing winter clothes, including boots, scarves, and hats to approximately 161,000 children in Sinjar, Erbil, Dohuk, Ninawa, Anbar, Diwaniya, Basra, Salaheddin, Baghdad and Suleimaniah, including through cash support. UNICEF’s winter campaign aims to reach the most vulnerable children aged between three months and 14 years living in camps for the internally displaced and in hard-to-reach areas. (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Wolverine's Avatar
    Yesterday, 11:42 PM
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  • Investors Iraq News's Avatar
    Yesterday, 12:31 AM
    By John Lee. An American company have won a tender to supply a mine detector to the United Nations Office for Project Services (UNOPS) in Iraq. The contract with Sarkar Tactical Ltd is valued at $129,768. (Source: UNGM) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 37 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:31 AM
    By John Lee. The Iraqi Air Force has received another six new T-50 fighter jets under a contract with*Korea Aerospace Industries (KAI). According to previously-released information, Iraq’s T-50 fleet is planned to grow to 24 by early next year. (Source: Iraqi Air Force) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 38 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:31 AM
    The Government of Norway is supporting the United Nations Development Programme (UNDP) with an additional NOK 25 million (approximately USD 3 million) for stabilization in Iraq, bringing Norway’s total contribution since 2015 to USD 36 million, the seventh largest donor to FFS. The fund will be directed towards UNDP’s Funding Facility for Stabilization (FFS) which finances fast-track initiatives to stabilize areas liberated after the fall of Islamic State of Iraq and the Levant (ISIL) Acting UNDP Resident Representative for Iraq, Mr Gerardo Noto, said: “Although much progress has been made, we still have a long way to go in stabilizing parts of Iraq devastated by ISIL. At this stage, more than 4 million people have returned to their homes. This is good news, but a lot more needs to be done, particularly in areas like western Mosul and the Ninewah Plains. Norway’s contribution will help us to accelerate our work in these areas, and we are very grateful for this support.” The Norwegian Ambassador to Iraq and Jordan, H.E. Mrs. Tone Allers, added: “As Iraq is entering a new phase, Norway remains committed to support the efforts to ensure long-term stability and growth for all Iraqi citizens. Since the initiation of UNDP’s Funding Facility for Stabilization, we have seen that the projects are yielding results on the ground, rehabilitating important infrastructure and restoring basic services in Iraqi towns and cities affected by ISIL’s takeover. With this additional contribution to FFS, we hope to contribute to improving conditions for the safe return of the more than 300,000 families still displaced from their homes.”? (Source: UNDP) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 34 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:31 AM
    Government of Iraq and United Nations Launch National Strategy to Combat Violence Against Women in IraqThe Government of Iraq and the United Nations in Iraq launched today a national strategy to combat violence against women, a significant step towards achieving women’s rights. This strategy provides an overall framework on which policy and decision makers will draw to take concrete actions aimed at preventing violence against women and girls and protecting survivors of violence. Endorsement by all stakeholders of this updated national strategy formalises the commitment of the Government of Iraq and the United Nations to take concrete action. The launch event in Baghdad was attended by the First Lady of Iraq, Ms. Surbagh Salih, the Secretary-General of the Council of Ministers, Dr. Mahdi al-Allaq, the Director-General of the Women Empowerment Department, Dr. Ibtisam Aziz, ministers and members of parliament, members of the High Judicial Council, civil society and international NGOs, diplomats as well as representatives of the United Nations Assistance Mission for Iraq (UNAMI) and the United Nations Population Fund (UNFPA). The launch was supported by the embassies of the Kingdoms of Norway and Sweden. “It is a propitious day to be thinking and talking about the rights of women to live lives free of violence,” the Deputy Special Representative for Iraq of the United Nations Secretary-General, Ms. Alice Walpole, said in remarks delivered at the event. “The national strategy to combat violence against women will be a significant tool for the Iraqi government to fulfil its international gender commitments, including the Sustainable Development Goals, the Convention on the Elimination of All Forms of Violence against Women, United Nations Security Council Resolution 1325 on Women, Peace and Security, and the Beijing Platform.” UNFPA Representative to Iraq, Dr. Oluremi Sogunro, stated: “This strategy is yet another win for women and girls in Iraq as it adds to the progresses observed in the past few years. UNFPA is proud to have worked with the Government of Iraq to develop this strategy through the provision of the technical capacities and expertise.” Despite achievements in the field of women’s protection and empowerment, significant challenges remain, such as the lack of parliamentary endorsement of a Law to Protect Families from Domestic Violence. The delay in the approval of this law hinders the journey towards gender equality and women’s empowerment as well as overall national sustainable development and peace-building. The United Nations reiterates its commitment to support and engage with the new Iraqi government, including the senior political leadership and the Council of Representatives, to advocate for the prioritisation of relevant legislation in the new parliament. (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • James's Avatar
    12-09-2018, 06:38 AM
    https://twitter.com/twitter/statuses/1071630520012890112
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  • Investors Iraq News's Avatar
    12-08-2018, 10:33 PM
    By Elena Kornienko. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A few months ago I was approached by one of my LinkedIn connections, an expat based in Iraq, with an exciting training opportunity for one of the largest oil companies in the region. Some messages back and forth to clarify details and I am asked to submit a proposal and training programs content. And at this point of time my inner voice of procurement professional with 17 years of buying goods and services for various companies started asking me questions:* “Why you have not received an official enquiry and all correspondence is LinkedIn based? “ – “Well, that’s how the modern world works these days! Social media became integral part of our lives”. My inner voice said: “Ok, fair enough. But why this person did not use corporate e-mail account?” – “Well, it is easier to keep correspondence on a subject in one place, and it will be easier to refer to all discussion details”. And my inner voice was satisfied with that explanation too. But it kept asking me more questions: “If that is a formal inquiry for services, it have to come using company’s standard, and this company absolutely have templates and even automated procurement system…”, and the next question was “Submission of training materials to a client is always subject to signing “Non-disclosure agreement” where Intellectual Property Rights are clearly defined. So why it does not happen this time?”. And that was the time when I listened to my inner voice and started asking the same questions the potential counterpart. It did not take long to understand that it was a fraud inquiry with a purpose of stealing information which was covered by big and famous name… It is not a secret that most of International Oil Companies, including the ones which operate in Iraq, have as a part of their contract template schedule “Code of Business Conduct and Ethics” and a failure to comply with all rules is considered as material breach of a contract which leads to further collection of damages or early termination. This contract schedule establishes company’s standards that include business practices and regulatory compliance that applies to all company’s employees. These standards are expected to be followed by contractors as a part of commitment to execute contracts in trustful and faithful manner. For those of readers who did not come across with such contract articles, here just a few examples of what is typically covered: alcohol and drug policy, insider information trading, bribery, corruption, business records, confidential information, computer and system security, conflict of interest, gifts, engagement with media and information partners. This is typical content of “Code of Business Conduct and Ethics” which is adopted by most of the players in the Oil and Gas industry, however is it enough to make sure that all parties involved are acting in a good faith to all concerned? The Chartered Institute of Purchasing and Supply (CIPS) developed and implemented Corporate Code of Ethics with more focus for procurement professionals. It guides companies on ethical behavior in supply chain and promotes usage of procurement strategies to drive away unethical practices from the supply chain, assists to ensure that procurement decision minimize any negative impact, helps to put ethical policies and procedures in place to ensure compliance and the most important – mandates the education and training of all staff involved in sourcing, contractor selection and management to professional standards. *Great initiative that helps not only companies, but procurement professionals to set and follow rules of ethical procurement. It promotes professional behavior of procurement personnel who have the biggest exposure in a company for potential fraud and corruption. While some of the companies are more advanced in implementing and following ethics standards in procurement, for others it is a new unknown road. Iraq has its own challenges in procurement and we can all contribute the development of ethics in supply chain by letting our inner voice ask questions even in circumstances when we feel great excitement for fantastic business opportunity. Elena Kornienko has more than 15 years of professional experience in contracts, procurement and tendering in various roles from demand-identification to contract close-out. She has worked on major international oil and gas projects, including the Sakhalin-1 and Sakhalin-2 fields in Russia, and Iraq’s West Qurna-2. Now based in Dubai, she provides consultancy services to the oil and gas industry. Elena is a fluent English and Russian speaker, and a graduate of the Moscow State University of Commerce, holding a degree in Economics. She also graduated with distinction from the School of Business Administration at Portland State University and holds a CIPS diploma. (Picture: Ethics signpost, from 3D-creation/Shutterstock) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 46 view(s)
  • Investors Iraq News's Avatar
    12-08-2018, 10:33 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 | 57 view(s)
  • Wolverine's Avatar
    12-08-2018, 04:54 PM
    454 replies | 20656 view(s)
  • Investors Iraq News's Avatar
    12-07-2018, 10:31 PM
    Source: Read the story here Post your commentary below.
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  • James's Avatar
    12-07-2018, 09:22 AM
    James replied to a thread Isx 2019 in Iraq Stock Exchange
    Carter it's not a bother to answer questions, that's why I post here. The profits I have received are in dinar. They are added to my Al Karmal account balance. I then use that money to buy shares of other companies depending on which ones are trading. My hope is that when the dinar value rises I will sell some shares of something and take that money (which are in dinars at Al Karmal) and ask them to wire transfer through Bank of Baghdad ( this is where I wire US dollars money into Al Karmal and its converted to dinars) back to my US account which will be converted into dollars.
    10 replies | 397 view(s)
  • dinar shore's Avatar
    12-07-2018, 07:03 AM
    dinar shore replied to a thread Isx 2019 in Iraq Stock Exchange
    Good evening, James. This is Carter Doyle and I thank you for the information regarding Warka. I have just one more question, James and I will not bother. I know you are busy but when you talk about profits, are you talking about receiving profits that are converted the US Dollars or profits that converted to more shares. I appreciate you clarifying this question . Thanks, James. Carter
    10 replies | 397 view(s)
  • Investors Iraq News's Avatar
    12-07-2018, 03:55 AM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 6th December 2018). Note: ISX will be closed on Monday (Dec. 10, 2018) due to the anniversary of the victory against ISIS. The next trading session will be on Tuesday (Dec. 11, 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD654 (+0.6%) / $701 (+0.1%) (weekly change) (-19.4% and -16.1% YTD change, respectively). The number of week traded shares was 3.9 bn and the weekly trading volume was IQD3.0 bn ($2.5 mn). ISX Company Announcements According to the ISX announcement, the opening price of the IQD5.0 mn class bonds (CB125) will be IQD5,276,164 on Sunday (Dec. 9, 2018). (Table: 2.3) ISX will suspend trading of Iraqi Agricultural Products and Marketing Meat (AIPM) starting Dec. 19, 2018 due to the AGM* that will be held on Dec. 24, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of National Chemical & Plastic Industries (INCP) starting Dec. 18, 2018 due to the AGM* that will be held on Dec. 23, 2018 to discuss and approve 2017 annual financial results. Al-Ahlyia for Agricultural Production (AAHP) resumed trading on Dec. 5, 2018 after discussing and approving the financial results of the year ending Mar. 31, 2018 and deciding to distribute 2.55% cash dividends (IQD0.0255 cash dividend per share, 2.1% dividend yield). ISX suspended trading of Al-Mosul for Funfairs (SMOF) starting Dec. 4, 2018 due to the AGM* that will be held on Dec. 9, 2018 to discuss and approve 2015, 2016 and 2017 annual financial results. ISX suspended trading of National Islamic Bank (BNAI) starting Dec. 2, 2018 due to the AGM* that was held on Dec. 4, 2018 to discuss and approve 2017 annual financial results. Baghdad Hotel (HBAG) announced that the company started to distribute 44% cash dividend (0.44% dividend per share) from 2017 profit starting Dec. 2, 2018. Cross Transactions: 1.38 bn shares of Asia Al Iraq Islamic Bank for Investment (BAIB) on Dec. 3, Dec. 4 and Dec. 5, 2018, which represent 1.38% of BAIB capital. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 80 view(s)
  • Investors Iraq News's Avatar
    12-07-2018, 03:55 AM
    Statement by Alice Walpole, Deputy Special Representative of the Secretary-GeneralIraq’s Democratic Experience – Prospects and ChallengesRafidain Centre, Najaf4 December 2018Excellencies, Ladies and Gentlemen, Dear friends, Thank you for the invitation to speak here today, at the Al-Rafidain Center, on Iraq’s democratic experience. 2018 has been both an encouraging and challenging year for Iraq and its citizens. On the positive side, we witnessed two broadly successful electoral processes, consolidating Iraq’s democratic credentials. In May, within the constitutional time-frame, Iraq held its national parliamentary elections. Candidates and political parties conducted largely honourable campaigns, under an Electoral Code of Conduct drafted by the United Nations Assistance Mission for Iraq, free from sectarian-based discourse or inflammatory statements. There was, however, disappointing abuse of some, primarily female, candidates. Elections were held on time, and most people (including the displaced) were able to cast their votes and select their representatives freely and safely. The liberated areas witnessed an open voting process for the first time since the defeat of Da’esh. I commend the efforts of electoral officials, party agents and the security forces in making the elections largely peaceful, secure and orderly. But we should not be complacent. The national elections were marked by a low voter turnout of just 44%. The decision by more than half of the voting population not to exercise their democratic right sends a strong signal of dissatisfaction to politicians over failures to meet people’s expectations or to provide for their needs, and a strong message to place the interests of the Iraqi people and the nation above partisan, sectarian, individual or group interests. I encourage the Iraqi political elites, specifically incoming ministers and members of parliament, to draw the necessary conclusions on the need for improved representation, justice for all, democratic accountability and good governance free of corruption, sectarian quotas, nepotism and patronage. You will recall that the post-election phase was marked by widespread complaints. Allegations of electoral fraud and mismanagement resulted in the decision, which the United Nations supported, to conduct a partial manual ballot recount. I would like to note the transparent, credible and well-organised conduct of the recount (which I myself witnessed in several recount locations). I commend the professionalism of all recount staff, both Independent High Electoral Commission and judiciary personnel, under the capable, impartial supervision of the Board of Judges. I believe the recount increased public confidence in the election results. I hope it also increased confidence more generally in the electoral process. Ladies and Gentlemen, Throughout the post-election and government formation period, the people took to the streets to express their dissatisfaction with the management of state affairs. Their demands must be taken seriously if the democratic process is to succeed in Iraq. The demonstrations which began in Basra in July and spread to other southern governorates including Missan, Muthanna, Qadisiya, Dhi Qar, Najaf, Karbala, Babil, Wasit, and then to Baghdad, were a clear call on the government to address the basic rights and needs of the people. The gravity of further violent protests in Basra in September sent a signal to the government to find tangible solutions to local problems of lack of delivery of basic services, shortages of electricity, lack of jobs and pervasive corruption. The protestors accused national leaders and successive governments of ignoring them and expressed deep and growing frustration with the political system, including a sectarian quota system they deem corrupt and dysfunctional, and perceived foreign interference in internal affairs. While many political leaders expressed their support for the demands of the protesters, there has been little actual progress in effecting change. Former Prime Minister Abadi and the Council of Ministers made commendable efforts to implement some rapid relief measures, but these remain insufficient to address the depth of people’s needs and concerns. The new government now needs to prioritise political, economic and social reforms, justice, equality and accountability, reconciliation and the fight against corruption. Job creation will enable economic development, stability and prosperity, while Iraq should maintain its sovereignty and independence, free from foreign interference. The challenges faced by Iraq are deep-rooted and can only be tackled by strong and unified governance. Prime Minister Abdul-Mahdi and his cabinet of ministers must engage in a fight against corruption, while the new Council of Representatives should reform laws that do not embed justice and equality. Ladies and Gentlemen, I commend the successful completion of the Kurdistan Region parliamentary elections. Again, accusations of electoral fraud were fully investigated. On 30 October, the Electoral Judicial Panel of the Kurdistan Region Court of Cassation approved the election results. The Kurdistan Democratic Party and the Patriotic Union of Kurdistan have assured us of their intention to consult closely with all local political parties on government formation. The Kurdistan Islamic Union and the New Generation Movement have announced that they will form an Opposition in the Kurdistan Parliament. All this is welcome progress. However, to date there have been no formal agreements on government formation. In this regard we urge the Kurdish parties to complete negotiations and the formation of the parliament to ensure that the needs of the people can be proactively addressed. Ladies and Gentlemen, The United Nations was reassured to note that Mr Abdul-Mahdi, as PM-designate, received the endorsement of many prominent parliamentary blocs to choose his ministers freely, on the basis of their capabilities and experience rather than sectarian or political quota systems. We commended the democratic transfer of power between the outgoing Prime Minister, Haider al-Abadi and incoming Prime Minister Abdul-Mahdi within the Constitutional timeline. At the handover ceremony on 25 October, Mr. Abadi recalled the achievements of his government. He and his government, the Kurdistan regional government, the armed forces and the people of Iraq do indeed deserve acknowledgment and gratitude for the progress made thus far. While the government formation process has not been without difficulty, the political blocs have demonstrated willingness to act in support of the Prime Minister. Competition and differences have been largely political and not sectarian, and in this way, a break from the past. Iraq must now build on these foundations. I remain concerned that the government formation process has stalled as disagreements over some ministerial posts continues to divide political parties and blocs. The United Nations urges Prime Minister Abdul-Mahdi and the political parties to reach agreement and complete the cabinet. All political forces now share a responsibility for creating an enabling environment for the new Prime Minister and government to deliver on their programme and for ensuring political stability. The Government’s new programme, on which the United Nations was invited to offer advice is ambitious and forward looking. It outlines specific plans for reform, investment and the private sector, tackling corruption and for transitioning Iraq from a crisis context to sustainable development. It prioritises job creation, greater governorate-level participation, rehabilitation and reconstruction of liberated areas and the return of the displaced. It focuses on strengthening security, fighting terrorism, enhancing law and order and the rule of law. Special attention will be given to resolving pending challenges with the Kurdistan Region, including the issues of budget allocation and financial resources, oil and disputed areas. For this programme to be achieved, Iraq will require the continued support of the international community but also sustained political support from political leaders and parties within the parliament. On international relations, I commend Iraq’s new leaders who have acted without delay in engaging regional governments – fostering bilateral relations, tackling regional challenges such as terrorism, water issues, and discussing economic cooperation and investment for the reconstruction of Iraq. Ladies and Gentlemen, Among the priority tasks for the new parliament is preparing the upcoming provincial council elections. With the expanding role of provincial councils in governance, the candidate choices made freely and fairly by the electorate will be extremely important for the country’s development. I welcome the Electoral Commission’s announcement of resumption of the biometric voter registration process. And I am pleased that for the first time since 2005, the Kirkuk governorate will participate in these elections – a critical step on the path to the normalisation of Kirkuk’s status and of politics in the governorate. Negotiations on the reactivation of the Kirkuk Provincial Council continue, with United Nations-supported discussions between local political actors from the Kurdish, Arab and Turkmen communities. Ladies and Gentlemen, I am pleased that several female candidates received a high number of votes within their political lists, and that 19 female candidates were elected to parliament on this basis. Our expectation for the future is that the 25% quota which currently guarantees 83 seats for women, will represent a minimum threshold, not a fixed number. I urge political leaders to ensure the full participation of women within the new government and their representation at the highest levels in Iraq’s political and decision-making structures in the parliament and the government. I very much regret that no female or minority candidates have yet been appointed to ministerial positions; and while I welcome assurances that Prime Minister Abdul-Mahdi will include them in future governmental posts, I feel that an opportunity has been missed. Women must get a full chance to play key roles in shaping the post-Da’esh future of their country. Equality and empowerment of women must be central to all peace, justice, legislative, reconciliation and reform efforts. Ladies and Gentlemen, Democracy and improved standards of living cannot be realised within an environment of persistent insecurity. Although Da’esh’s so-called caliphate has been defeated, the terrorist organisation continues to pose a threat. Iraqi Security Forces and the Popular Mobilisation Forces have maintained constant pressure on the remaining Da’esh presence and activities across North, Central and West Iraq throughout the year through successive security clearance operations. Challenges however remain for improving the overall security environment. The new government must reform and rehabilitate its security sector, putting it firmly under state control. Ladies and Gentlemen, The United Nations works hard to support Iraq and its people. With the government formation process now close to completion, we hope that the country will continue on its journey to democracy. We will continue to offer advice and engagement. We will continue to work in partnership with the government and the people of Iraq to build progress. A prosperous future built on democracy and the rule of law – an Iraq in which the rights and needs of every citizen are recognized and fulfilled. Thank you. (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 62 view(s)
  • James's Avatar
    12-06-2018, 10:40 PM
    James replied to a thread Isx 2019 in Iraq Stock Exchange
    Calstar - I'm unsure what your asking? if its about transferring Warka Stock, then I simply wrote a letter (Word doc) and included my photo and signature asking Warka to transfer all stock to my account at Al Karmal ( after I had an Al Karmal account number) and Cc: Mr. Ajina in the email. He took care of the rest. P.S. I had asked for an updated stock report from Warka several weeks before and everything was transferred accordingly.
    10 replies | 397 view(s)
  • calstar's Avatar
    12-06-2018, 07:45 PM
    calstar replied to a thread Isx 2019 in Iraq Stock Exchange
    James what form did you sent to Al Karmal or did you sent a letter request?
    10 replies | 397 view(s)
  • Wolverine's Avatar
    12-06-2018, 04:22 PM
    454 replies | 20656 view(s)
  • Investors Iraq News's Avatar
    12-06-2018, 01:38 PM
    By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Average daily turnover in November continued to improve, increasing 24% on the back of October’s 24% month-on-month growth. However, the recovery is coming from an incredibly low base and still shows the average daily turnover in-line with the dismal levels of September, which were among the lowest for some time (chart below). With the gradual recovery in turnover, the market, as measured by the RSISUSD Index, moderated its month-on-month declines, down -1.7% for the month- continuing to test the major bottom of May 2016. However, the end the Arbaeen, summer, and the government formation are yet to mark the end of the period of, probably, the lowest daily trading volumes on the Iraq Stock Exchange (ISX) since it first witnessed an expansion in volumes in 2010. The anomaly and un-sustainability of these low levels was discussed last month, and logic continues to argue for a reversion to the mean. (Source: Iraq Stock Exchange, Rabee Securities, Asia Frontier Capital)It was also argued last month that an uptick in M2 (broad money and a proxy for economic activity) could imply that liquidity, brought on by a two-year recovery in government finances, has finally begun to filter down into the economy – which should accelerate as the new government begins to act on its spending programme. A nascent recovery in telecoms adds support to this line of reasoning. The two major mobile operators out of three national operators, reported Q3/2018 earnings that display the markers of recovery in earnings, margins and profits. Of the two, AsiaCell (TASC) has been listed since 2013 and as such its reported earnings span the period 2012-2018, and thus reflects the operating environment before, during and just after the ISIS conflict. (Sources: Rabee Securities, ISX, Company reports, Asia Frontier Capital)TASC’s earning’s profile marked by rapidly increasing revenues – driven by the country’s adoption of mobile phones – peaked in 2013. The turn for the worst started in late 2013 with the increasing violence before the May 2014 elections, which accelerated by mid-2014 with the ISIS invasion and the loss of over a third of the country, and with that a significant loss in TASC’s subscriber base. The roll out of 3G in early 2015 brought its own set of problems. The amortization of the fees of $307 million (on top of fees of $1,250 million in 2007 for a 15-year licence) to access the 3G spectrum increased costs meaningfully. While, revenues took a hit as free IP voice telephony soon replaced most expensive regular telephony-especially for international calls, while data fees could not fully replace these lost voice revenues. This was compounded by increased competition among the three mobile operators as they sought to replace both lost consumers and voice revenues through competitive price offerings to lure consumers from each other. Capping the woes of mobile operators was the severe economic decline brought about by the ISIS conflict and the collapse oil prices as non-oil GDP declined by -3.9%, -9.6% and -8.1% for 2014, 2015 and 2016, respectively.* Finally, the resultant weaknesses in both consumer and business demand was made much worse with the introduction of 20% VAT on phone cards in the summer of 2016. For TASC, the revenue decline, while cost increases crushed its profits (as the chart above shows), however this decline in profits was moderated by very strict cost controls and decreasing capital expenditures reflecting an earlier heavy investment in infrastructure. The bottoming in revenues over the last few years came to end in late 2017 with the liberation of Mosul and the gradual return of customers which contributed to the recovery in profitability. The company signalled its confidence in its future outlook with a distribution of a 12% dividend on the back of last year’s 14% dividend – however, in absolute terms the dividend is about one third higher than that of last year. The grandfathering of the transition to 3G, the amortization of the licence and the effects of the VAT introduction, all coupled with the return of customers as well as the expected growth in data usage should lead to a healthy period of resumed earnings growth. The next few quarters should see a similar recovery for the battered banking sector, with probably the first to recover being the quality of loans. A return of liquidity and an economic pick-up should be followed by a recovery in the quality of bad loans and the reversal of NPL’s (non-preforming loans) with past provisions becoming earnings, thus providing the first boost to earnings recovery. This should be followed by growth in loans and deposits, as should growth in trade finance revenue, and therefore similarly to the case of telecom should lead to a resumption of a period of earnings growth, and with-it better stock price performance. For more details on the banks see “Of Banks and Budget Surpluses”. Recovery, in frontier markets, is a mirror image of Mark’s Twain’s phrase on going broke, in that recovery happens gradually and then suddenly. If similar experiences in other frontier markets of declining prices while fundamentals point to a start of a gradual recovery, then the trend of the last few months could be followed by a sharp reversal to the upside. Please click here to download Ahmed Tabaqchali’s full report in pdf format. Mr Tabaqchali (@AMTabaqchali) is the CIO of the AFC Iraq Fund, and is an experienced capital markets professional with over 25 years’ experience in US and MENA markets. He is a non-resident Fellow at the Institute of Regional and International Studies (IRIS) at the American University of Iraq-Sulaimani (AUIS), and an Adjunct Assistant Professor at AUIS. He is a board member of the Credit Bank of Iraq. His comments, opinions and analyses are personal views and are intended to be for informational purposes and general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any fund or security or to adopt any investment strategy. It does not constitute legal or tax or investment advice. The information provided in this material is compiled from sources that are believed to be reliable, but no guarantee is made of its correctness, is rendered as at publication date and may change without notice and it is not intended as a complete analysis of every material fact regarding Iraq, the region, market or investment. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 81 view(s)
  • Investors Iraq News's Avatar
    12-06-2018, 01:38 PM
    KRG Prime Minister Nechirvan Barzani received Lebanese Minister of Foreign Affairs Gebran Bassil, Minister of State for Combating Corruption Nicolas Tueni, and their accompanying delegation. In the meeting, also attended by Kurdistan Regional Government ministers and senior officials, they discussed the political situation in Iraq including the post-election process, and the formation of the new Iraqi government and new Kurdistan Regional Government cabinet. Minister Bassil thanked the Kurdistan Regional Government for its assistance and support to the Lebanese community. He emphasized the desire of Lebanon to strengthen relations with the Kurdistan Region, especially in the fields of investment, trade, tourism and culture. Prime Minister Barzani reaffirmed the KRG’s support to Lebanese businessmen and investors. He praised the activities of the Lebanese community in the Kurdistan Region. The political situation in*the wider region was also discussed. (Source: KRG) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 87 view(s)
  • Investors Iraq News's Avatar
    12-06-2018, 01:38 PM
    From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq’s ancient pottery culture in the holy city of Najaf is dying out with the increasing demand for more modern products. Iraqis, who traditionally used clay utensils for storing food and cooking are turning to cheaper plastic products made either elsewhere in Iraq or imported. View on YouTube Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 63 view(s)
  • James's Avatar
    12-06-2018, 10:47 AM
    James replied to a thread Isx 2019 in Iraq Stock Exchange
    Last Trading session for 2018 and First trading session for 2019 - last trading session for 2018 will be on Tuesday 25/12/2018 . - First Trading session for 2019 will be on Wednesday 2/1/2019 .
    10 replies | 397 view(s)
  • calstar's Avatar
    12-06-2018, 05:17 AM
    ​that might mean " Fils"
    1 replies | 226 view(s)
  • guardian's Avatar
    12-06-2018, 03:47 AM
    Yes, I sold some back and still have some. This perked me up! Posted in the forum: Iraq's Stock Exchange to launch online trading in 2019
    190 replies | 54850 view(s)
  • dollarsign's Avatar
    12-05-2018, 02:41 PM
    BRUSSELS (Reuters) - The European Commission published on Wednesday non-binding proposals to boost the role of the euro in international payments and its use as a reserve currency to challenge the dominance of the dollar. The Commission admitted the dollar dominance was due to higher liquidity, lower transaction costs and its use as a benchmark in commodities and derivatives markets - prerogatives that can hardly be challenged in the short term. __________________ Oil is The commodity essential for global commerce, so it looks like this is going to bother them for a while as they've stated before. I'm watching this, along with Brexit news, as the Euro and Pound were listed as two of the five currencies to be used it the basket for calculation of the value of the the IQD. These two tracks could certainly have short term impact on the dinar, but in any case, the Dollar will carry the heavier weight in the basket. $
    186 replies | 33007 view(s)
  • Dinar_OS's Avatar
    12-05-2018, 02:26 PM
    https://finance.yahoo.com/news/exxonmobil-apos-massive-oil-discovery-134300324.html?.tsrc=daily_mail&uh_test=1_05 ExxonMobil's Massive Oil Discovery Keeps Getting Bigger
    0 replies | 131 view(s)
  • James's Avatar
    12-05-2018, 10:55 AM
    The Iraqi Stock Exchange decided not to organize the trading session on Monday 10/12/2018 to coincide with an official holiday on the occasion of the first anniversary of the declaration of victory over the organization of a supporter of the terrorist.
    0 replies | 133 view(s)
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