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  • Investors Iraq News's Avatar
    Today, 04:11 AM
    By John Lee. The State-owned Trade Bank of Iraq (TBI) is reportedly looking to acquire a lender in Turkey, the country’s biggest trade partner, after abandoning a previous attempt. Chairman Faisal Al Haimus is quoted by The National as saying that the TBI is keen on a conventional bank rather than a Sharia-compliant bank, but he declined to name a target. Buying a Turkish bank would be the TBI’s first overseas acquisition, which will be financed from $350 million the lender earmarked for buying assets. More here. (Source: The National) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 20 view(s)
  • Investors Iraq News's Avatar
    Today, 04:11 AM
    The central banks of Iran and Iraq are finalizing negotiations to begin trade in their own currencies, chairman of Iran-Iraq Chamber of Commerce said. Speaking to Tasnim, Yahya Ale-Eshaq said negotiations between the central banks of Iran and Iraq are under way to reach an agreement on using rial and dinar in bilateral trade. Once finalized, the agreement would allow the banks of the two countries to issue letters of credit on the basis of Iranian rial and Iraqi dinar, he added. Ale-Eshaq also noted that the value of Iran’s exports to Iraq in the first eight months of the current Iranian year (March 21- November 21) reached $8 billion, equal to the total amount of exports to Iraq in the previous year. On Saturday, secretary general of Iran-Iraq joint chamber of commerce, Hamid Hosseini, said the daily value of Iran’s exports to Iraq stands at $45 million and sometimes reaches $70 million. Iraq’s new Foreign Minister Mohamed Ali Alhakim has made it clear that his country cannot cut off trade ties with Iran under the US sanctions, saying the value of annual trade between Iran and Iraq amounts to $12 billion. (Source: Tasnim, under Creative Commons licence) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 23 view(s)
  • Investors Iraq News's Avatar
    Today, 04:11 AM
    Iraqi religious leaders have laid the cornerstone to rebuild Mosul’s landmark Al-Nouri Grand Mosque, which was blown up in the battle with Daesh terrorists in 2017. The mosque and its iconic leaning minaret were built in the 12th century. Iraqi forces defeated the terror group in the last of its urban strongholds last year, recapturing Mosul in a fierce battle that saw the Al-Nouri Mosque destroyed. Dignitaries from the EU and the UN attended the ceremony in the mosque’s courtyard, where Abdulateef al-Humayim, head of Iraq’s Sunni endowments, led the proceedings on Sunday, AP reported. The UAE donated $50.4 million to rebuild the mosque. Construction is expected to take five years. (Source: Tasnim, under Creative Commons licence) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 20 view(s)
  • Investors Iraq News's Avatar
    Today, 04:11 AM
    By John Lee. Two companies have won tenders to supply “Hook & Line equipment and Metal Detectors” to the United Nations Office for Project Services (UNOPS) in Iraq. The contract with South Africa-based LVP Technology is valued at $608,292, while the contract with Monaco-based MKG sarl is valued at $144,845. (Source: UNGM) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 19 view(s)
  • Investors Iraq News's Avatar
    Today, 04:11 AM
    By John Lee. A report from UK-based newspaper The Guardian says that British Government-backed projects to tackle the aftermath of the war in Iraq have been hindered by the UK’s continuing “hostile” immigration policy. It cites the example of a civil service training scheme involving a £330,000 contract between the General Company for the Ports of Iraq (GCPI) and Middle East Graduate (MEG), a Sheffield-based student recruitment agency; the scheme now faces being axed after immigration officials rejected dozens of student visa applications. Another project, funded by the UK government to research gender-based displacement and violence in Iraqi Kurdistan, was hampered when six members of the project’s Iraq-based team were denied visas. More here. (Source: The Guardian) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 18 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 02:36 PM
    By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Restraining the Game-Changer: A Decade of Uneven Development in Iraq Petroleum SectorThe development of the Iraqi petroleum sector during the period 2008-2018 represents, from all related aspects, a distinct phase in the sector and in its role in the national economy. Sector-wide petroleum comprises three different but organically liked sub-sectors through critical forward-backward linkages: Upstream (including exploration, field development and production); Midstream (pipeline, storage, export terminals and related infrastructures); Downstream (mainly, crude oil refining, gas processing, petroleum product distribution and petrochemical industries). Though the “State” has been the dominant actor in petroleum sector development, the post 2003 period witnessed an erosion of that role through a grand opening of the sector for International Oil Companies- IOCs; different contractual modalities, mostly reflecting the peculiarities and realities of each sub-sector, were proposed or adopted to govern the legal relations with the IOCs. Thorough and continuing follow-up and research suggest that most of the evidenced development has taken place in the upstream sub-sector, with heavy IOCs involvement in a significant part of the country’ proven oil reserves through four bid rounds that contracted the most prized oilfields; while other two sub-sectors continue-trapped in their chronic misalignment, obsolete technologies and wasteful practices of invaluable natural resource. Moreover, the “triple shocks”; collapsing oil prices since June 2014 (economic risks) accompanied by Da’esh (security risks) effects and Kurdistan Regional Government-KRG taking-over some of North Oil Company-NOC oilfields (June 2014-October 2017) (political risks) made matters even more devastating. And with the then prevailed notions of “the new normal” and the prospect of “lower-for-longer oil price” that contributed into further deepening the fiscal crisis of the state had elevated the “fear-factor” among Iraqi decision makers. That, combining with apparent human, systemic and institutional capacity-gaps limitations (business risks), had resulted in: Iraq giving important concessions to IOCs without having tangible benefits in return; Weakened severely Iraq’s strength in any future negotiation with the IOCs; Establishing a powerful precedent for costly domino effects. Accordingly, the article would argue that, analytically and empirically, a sub-sector focused policy could generate triple-negativities: on the development in that sub-sector; on the entire sector itself and on the sector’s contribution to the development of the national economy. That, obviously, is a testimony of and an indication to the absence of well thought, coherent and integrated petroleum and energy policy; and to the futility of the “indicative non- mandatory” National Development Plan-NDP. Hence, the logical consequences and outcomes would exacerbate structural imbalances, deepen vulnerabilities to external factors and increase dependency on oil revenues, which prohibits desirable structural change, diversification and transformation; a vicious circle of dependency and uneven development. The nature of the topic decides the research methodology. Hence, the article is a multi-disciplinary in its approach focusing on the relevant and important economic, legal, institutional, political economy and geopolitical analytical frameworks and aspects. Also, the article offers evidence-based analysis by relying on official, verifiable and crossed-checked data, information and documentation. Time-series and charts for the ten-years covered period are necessary, and available, for elaboration but avoided for space restriction. The article adopts a holistic view by addressing the three interrelated levels of analysis: micro, sectoral and macro (national), excluding KRG. Throughout the article, many questions were posed indicating the need for further scholarly work and research investigation. Finally, because of my constant follow-up and frequent contributions on Iraqi energy and petroleum sector, this article refers heavily to some of my previous works and publications. The article comprises two parts and concluding remarks: part one identifies and analyzes the most important milestones in petroleum upstream development while part two provides assessment of successes and failures in the petroleum sector-wide and their implications for Iraq. The above is an edited “Abstract and Introduction” of my article published by the academic periodical-IJCIS: Jiyad, A. M. (2018), ‘Restraining the game-changer: A decade of uneven development in the petroleum sector’, International Journal of Contemporary Iraqi Studies, 12:3, pp. 239–67, doi: 10.1386/jcis.12.3.239_1) Kindly note that IJCIS, publishes by Intellect Books-UK, is a subscription periodical with a possibility to purchase, online, the entire issue or any of its articles; web-access link will be provided once the printed copy issue is released in the coming days. 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 | 33 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 02:36 PM
    His Excellency Prime Minister Adil Abd Al-Mahdi expressed his country’s pride in the level of relations with Japan, commended the Japanese government for its support in the fields of security, stability, reconstruction projects, economic and cultural cooperation.His Excellency said during his reception to the Japanese Prime Minister’s Special Adviser Kentaro Sonoura and his accompanying delegation: Japan will be an excellent partner for Iraq, while many infrastructure and service projects in Iraq have been done and we have a lot of interests and ambitions for future projects, underscoring that Iraq has begun to regain stability, health and doing vital role while the countries of the world coming to us because they do feel our country stability, strengthening the security and democratic life. His Excellency Prime Minister presented an initiative for partnership, economic and rebuilding cooperation between the Iraqi and Japanese governments, including the call for the establishment of a joint fund to finance reconstruction projects through the quantities of Iraqi oil exported to Japan. The Fund also funds the Japanese side to encourage Japanese companies to operate in Iraq, The Iraqi government will provide a package of projects in a way that ensures the success of the work of Japanese companies and accelerate their efforts and smooth work. Concerning that initiative, His Excellency Prime Minister confirmed that this initiative will strengthen the Mutual relationship between the two countries, accelerate reconstruction efforts, establishing economic projects, provide job opportunities for Iraqis, diversify national wealth and reduce dependence on oil, also providing opportunities for Japan’s presence in the Iraqi market and the region in general. The Japanese official expressed his interest in the project; He said that he was present when His Excellency Prime Minister presented those projects during His Excellency visit to Japan as oil minister, assuring that he expressed interesting in that vision. It was agreed that the Iraqi side will submit a statement of the main lines of the project through the Japanese Embassy in Baghdad to be studied by the Japanese authorities, thus contributing to the consolidation of cooperation between the two parties. The Japanese official conveyed greetings and congratulations to His Excellency Prime Minister on the occasion of the government formation, reaffirming the Japanese government’s aspiration to expand mutual relations with Iraq in all areas and move more effectively in support of Iraq’s stability, reconstruction, completion of service projects, supporting the Iraqi government’s efforts to develop the Iraqi economy, strengthening security and stability and empowering democratic experience. (Source: Media Office of the Prime Minister) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 29 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 02:36 PM
    By John Lee. More than 100 top executives from more than 50 US companies visitied Iraq last week as part of a US-Iraq trade mission. Steve Lutes, vice president of Middle East Affairs at the U.S. Chamber of Commerce, said: “We want to expand and diversify the US involvement in commercial activity … We look forward to building on this momentum and exploring next steps!” U.S. Ambassador Douglas Silliman described the event as, “the largest US Chamber of Commerce business delegation anywhere in the world this year!” “Now we work to negotiate real contracts and investments,” he added. (Sources: Govt of Iraq, US Chamber of Commerce) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 34 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 02:36 PM
    Ms. Jeanine Hennis-Plasschaert assumed her responsibilities today as Special Representative for Iraq of the United Nations Secretary-General and Head of the United Nations Assistance Mission for Iraq (UNAMI), pledging continued UN support for Iraq in its post-conflict recovery. “I am delighted to be here in Baghdad and ready to get down to work. We will continue our efforts in support of Iraq as the country recovers from the fight against terrorism and looks towards a brighter future,” the Special Representative said. “I count on the support of the experienced staff in UNAMI and the UN family in Iraq, and the continued excellent cooperation of the host country so that together we can deliver on our programmes in the service of Iraq and the Iraqis. It is my intention to make the wellbeing of the Iraqis a top priority, and work towards that goal in the security, humanitarian, political, economic and development fields.” Ms. Hennis-Plasschaert, of the Netherlands, brings over 20 years of political and diplomatic experience, having served in several high-level Government and parliamentary positions. She was Minister for Defence of the Netherlands (2012-2017). Ms. Plasschaert also served as a member of the House of Representatives of the Netherlands (2010-2012) and a member of the European Parliament (2004-2010). She worked for the European Commission in Brussels and in Riga, Latvia, and for the City of Amsterdam. UN Secretary-General Antonio Gueterres appointed Ms. Hennis-Plasschaert on 31 August 2018. She succeeded Mr. Ján Kubiš who has served in the post for almost four years. (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 34 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 06:03 AM
    EU Support to recovery and stability through local development in Iraq – another example of EU-UNDP partnership The European Commission, represented by Director for Development Cooperation for Asia, Central Asia, Middle East/Gulf and the Pacific Region, Mr. Pierre Amilhat, and Gerardo Noto, the UNDP Resident Representative a.i. for Iraq, have today signed an agreement of €47.5 million to support recovery and stability through local level development in Iraq. Mr. Amilhat said today in*Mosul: “As pledged* at the Kuwait Conference for the Reconstruction of Iraq, the EU restates its commitment to assist Iraq in responding to the pressing needs of the population in the aftermath of the conflict with Dae’sh. We are* committed to support Iraq in ensuring improved services and livelihoods opportunities to its population, contributing to the building of a more inclusive and accountable local development.” The project will cover activities ranging from support to urban recovery and development in Mosul and smaller cities and towns affected by the conflict in Anbar, Salah al-Din and Ninewah governorates, as well as in three governorates in the South namely Basrah, Missan, Thi Qar, and the three governorates of Iraqi Kurdistan namely Erbil, Duhok and Suleimaniah. EU’s partnership with*UNDP Iraq, in collaboration with UN Habitat aims at promoting decentralization and provision of basic services while in parallel boosting economic growth and job opportunities. The project will also seek to enhance local revenue generation, promote sustainable development and the use of renewable sources, as well as to encourage participation of Civil Society Organizations in local decision-making processes. UNDP Resident Representative a.i. for Iraq, Mr. Gerardo Noto, said: “We are grateful to EU for our excellent partnership. We jointly help people of Iraq so that no one is left behind as all UN Members Countries committed in the Agenda 2030 and Sustainable Development Goals (SDGs). “This is yet another practical example of support to the authorities and citizens of Iraq in regaining the trust of the local communities and rebuilding the state institutions towards a new social contract to sustaining peace and sustainable development“. (Source: UNDP) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 33 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 06:03 AM
    Do social protection programs improve life satisfaction? Evidence from Iraq An extensive literature examines the link between social protection-related public spending and objective outcomes of well-being such as income, employment, education, and health. Much less attention has been given to how government social protection policies influence individuals’ own sense of well-being, particularly in low- and middle-income countries (often referred to as developing countries). Yet, the effectiveness and the sustainability of such policies and programs often depend on how people perceive them. This paper examines the relationship between social protection programs and subjective well-being in Iraq. The full report can be read here. (Source: Brookings Institution) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 36 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 03:51 AM
    By Khulood al-Amiry for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Baghdad Policewomen’s Roles Expand as they Rise in Ranks As in many places, women who work in law enforcement in Iraq have yet to achieve equality with their male counterparts, but they’re making progress. The Rescue Directorate of the Ministry of Interior deployed Nov. 17 a group of policewomen to patrol the streets of Baghdad and monitor the gates of girls’ schools, colleges, institutes and markets in a bid to combat harassment in public places. That’s just one aspect of their jobs. Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Wolverine's Avatar
    12-16-2018, 09:56 PM
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    12-16-2018, 05:40 PM
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  • Investors Iraq News's Avatar
    12-16-2018, 06:24 AM
    UNDP is committed to support the economic and regulatory reforms in IraqThe United Nations Development Programme (UNDP) jointly with the Iraqi Ministry of Planning (MoP) organized a consultation session for Director Generals from the Ministry of Higher Education and the Ministry of Planning MoP, to discuss and develop a road map to institutionalize the Regulatory Impact Assessment as an evidence-based approach, and tool for policy making. The session was intended to introduce a globally adopted tool to systematically and critically review the new and existing regulations, and analyze the projected social, economic and environmental impact, it was also a kickoff process through interactive consultation with key stakeholders, to enrich the discussion on the implementation of the Regulatory Impact Assessment, and reinforce the national ownership for smooth implementation. The Deputy Minister of Planning, Mr. Qasim Enaya was among the session attendees along with other senior officials. He said: “The Ministry of Planning is committed to actualize the Regulatory Impact Assessment Approach, and is mandated by its law to review the legislations related to inclusive development, we are also committed to assume our role to ensure the most feasible and effective policies, and regulations available, to produce the greatest economic and social net benefit to society, while simultaneously meeting the needs of government ”. UNDP Country Director Mr. Gerardo Noto said during the session: “UNDP is fully committed to support the Government of Iraq and the coordinating role of the Ministry of Planning in the implementation and monitoring of the Sustainable Development Goals SDGs, and Agenda 2030. the development agenda which is adopted by Iraq is an integrated, interconnected and comprehensive approach, to inclusive development that should be translated into coherent public policies and regulations, aligned with economic, social and environmental sustainability. “This consultation is affirmation of a key principle of Agenda 2030 underlined by SDG 16 (16.6 Develop effective, accountable and transparent institutions at all levels and 16.7 Ensure responsive, inclusive, participatory and representative decision-making at all levels)”. Inspired by the government commitment, UNDP asserted its intention to continue the support provided to various government entities that seek economic and regulatory reforms, for inclusive and sustainable development. This support is provided by UNDP through the Funding Facility for Economic Reform-Federal Project launched in early 2016, to provide technical assistance through the deployment of high caliber international experts to support national reforms agenda. (Source: UNDP) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    12-16-2018, 04:18 AM
    As part of its brutal campaign against northern Iraq’s Yezidi minority, the armed group calling itself Islamic State (IS) committed war crimes and crimes against humanity when it sabotaged irrigation wells and destroyed other farming infrastructure, Amnesty International said in a new report. A year after Iraq’s government declared military victory over IS, Dead Land: Islamic State’s Deliberate Destruction of Iraq’s Farmland details how the armed group also burnt orchards, looted livestock and machinery and laid landmines in farming areas. “The damage to Iraq’s countryside is as far-reaching as the urban destruction, but the consequences of the conflict on Iraq’s rural residents are being largely forgotten,” said Richard Pearshouse, Senior Crisis Adviser at Amnesty International. More here. (Source: Amnesty International) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 44 view(s)
  • Investors Iraq News's Avatar
    12-16-2018, 02:05 AM
    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 | 87 view(s)
  • James's Avatar
    12-15-2018, 01:52 PM
    Here is also a good weekly report from the Iraqi Depository Center. http://en.idc-stocks.com/news?ID=7378
    1 replies | 213 view(s)
  • Investors Iraq News's Avatar
    12-15-2018, 06:34 AM
    By John Lee. US Energy Secretary Rick Perry spent the last two days trying to convince the Iraqi government that it’s in its best interest to cut energy ties with Iran. But according to a report from*Washington Examiner, his efforts have had limited success. Perry tweeted: “In bilateral meetings with Iraqi President @BarhamSalih, Prime Minister Abdul-Mahdi, and Speaker Mohammed Al-Halbousi I reaffirmed that the U.S. stands ready to assist the Iraqi people in transitioning from Iranian energy dependence to using their full domestic energy potential.” Iran is Iraq’s neighbor and an important supplier of the natural gas that fuels the nation’s electric grid, which is crucial to Iraq’s economy and oil industry. More here. (Source: Washington Examiner) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    12-15-2018, 03:55 AM
    On Wednesday 12th December, the Iraq Britain Business Council (IBBC) was pleased to host a first meeting between the British Chambers of Commerce and Chamber of Commerce & Industry representatives from the Kurdish Region of Iraq. Erbil Chamber of Commerce is a founding member of IBBC and the IBBC is now the affiliate Chamber for Iraq of the British Chambers of Commerce. Liam Smyth, International director represented the British Chambers. Dr Dara Al Khayat, Chairman Erbil Chamber and Chairman of the Kurdish Federation of Chambers of Commerce & Industry was joined by the Chairmen of Sulaimani and Dohuk Chamber of Commerce. The work of all the Chambers was discussed and in particular areas where the KRG requested UK involvement was identified.* Apart from oil and gas and utilities there was much discussion about the agricultural and food processing potential of the region. In addition mining, tech and textiles were also put forward as sectors which foreign investment would be most welcome. Both sides looked forward to continuing engagement with each other to mutual benefit. (Source: IBBC) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Wolverine's Avatar
    12-15-2018, 02:09 AM
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    12-15-2018, 01:28 AM
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    12-14-2018, 09:51 PM
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    12-14-2018, 08:04 PM
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  • Investors Iraq News's Avatar
    12-14-2018, 11:19 AM
    Dana Gas PJSC, the Middle East’s largest regional private sector natural gas company, announces that as a result of the ramp up of production from its debottlenecking project in the Kurdistan region of Iraq, its group production reached 70,000 barrels of oil per day (boepd) on the 19 November and has since been sustained above that level. The Company’s principal operations are in the Kurdistan Region of Iraq (KRI) and Egypt, where the drilling of the Balsam-8 well has also led to a sharp increase in overall production. Current group production, in excess of 70,000 boepd, represents a significant increase compared to the Company’s 9M 2018 average of 62,250 boepd. Dr Patrick Allman-Ward, CEO, Dana Gas, said: “Production in excess of 70,000 barrels oil equivalent per day is a great achievement for Dana Gas. At the start of the year, we planned a drilling programme in Egypt and a debottlenecking project in the KRI that would significantly increase production. We have successfully delivered both projects. The increase in production will help offset the lower realised hydrocarbon prices that have impacted the oil industry in the last quarter and support growth in our revenue and net profit figures for the full year 2018 and beyond. “We remain excited about the long-term future of our world-class assets in the KRI. Further investment is underway to double current production to 900 MMscf/d over the coming three years, together with an increase in condensate to 36,000 bpd and LPG to 1200 MTpd.” In the fourth quarter 2018, Dana Gas Egypt completed the drilling of the Balsam-8 well and tied it in to the network. The well was completed ahead of schedule and under budget, adding over 5,000 boepd to the Company’s output. In the KRI, the Company announced a 30% increase in production capacity at the Khor Mor field (pictured), which it jointly operates on behalf of Pearl Petroleum. The expansion of the gas processing plant consisted of a series of plant additions and modifications to de-bottleneck throughput, raising output capacity from 305 MMscf/d of natural gas to 400 MMscf/d, with over 15,000 barrels per day of condensate. This is expected to add up to $50 million annually to the top line without incurring any additional operational costs. The Company recently posted a strong set of quarterly financial results. 9M 2018 revenue increased 6% to $351 million (AED1,287 mm) from $330 million (AED1,210 mm) over the same period last year and 9M 2018 net profit was $41 million (AED149 mm) versus a net loss of $6 million (AED22 mm) in 9M 2017, excluding one-off items. (Source: Dana Gas) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 84 view(s)
  • Investors Iraq News's Avatar
    12-14-2018, 11:19 AM
    By John Lee. Iraqi trade minister Mohammed Hashim has reportedly signed a deal on Thursday to import wheat and rice from the United States. According to Reuters, the agreement covers the first half of 2019. Meanwhile, Kurdistan 24 reports that a Russian delegation visited Baghdad this week to discuss exporting wheat to Iraq. (Sources: Reuters, Kurdistan 24) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 84 view(s)
  • Investors Iraq News's Avatar
    12-14-2018, 11:19 AM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th December 2018). Note: ISX will be closed during December 26, 2018 – January 1, 2019 due to the*end-of-year*closing operations. The next session will be held on Jan. 2, 2019. Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD668 (+2.2%) / $717 (+2.2%) (weekly change) (-17.6% and -14.2% YTD change, respectively). The number of week traded shares was 15.7 bn and the weekly trading volume was IQD7.8 bn ($6.4 mn). ISX Company Announcements According to the ISX announcement, the opening price of the IQD5.0 mn class bonds (CB125) will be IQD5,283,836 on Sunday (Dec. 16, 2018). ISX will suspend trading of Commercial Bank of Iraq (BCOI) starting Jan. 8, 2019 due to the AGM* that will be held on Jan. 13, 2019 to discuss and approve 2017 annual financial results. Iraqi Land Transport (SILT) will hold a GA on Dec. 26, 2018 to discuss dismissal of the current board of directors and re-elect 5 original and 5 alternative members. The company has been suspended trading by an ISC decision since Aug. 6, 2017 for not disclosing 2016 and 2017 annual financial results and 3M18 financial results. ISX will suspend trading of Iraqi Agricultural Products (AIRP) starting Dec. 23, 2018 due to the AGM* that will be held on Dec. 27, 2018 to discuss and approve 2017 annual financial results. Mansour Hotel (HMAN) resumed trading on Dec. 13 after discussing and approving 2017 annual financial results and deciding to distribute 15% cash dividends (IQD0.15 dividend per share, 1.3% dividend yield). Al-Mosul for Funfairs (SMOF) resumed trading on Dec. 12, 2018 after discussing and approving 2015, 2016 and 2017 annual financial results. The Light Industries (ITLI) will hold an AGM* on Dec. 27, 2018 to discuss and approve 2014, 2015 and 2016 annual financial results. The company has been suspended since Jul. 13, 2016. National Islamic Bank (BNAI) resumed trading on Dec. 11, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 4% cash dividend (IQD0.04 dividend per share, 3.8% dividend yield). Cross Transactions: 294.7 mn shares of Asia Al Iraq Islamic Bank (BAIB) on Dec. 13, 2018, which represents 0.3% of BAIB capital. 11.03 bn shares of Iraqi Islamic Bank (BIIB) on Dec. 12, 2018, which represents 4.4% of BIIB capital. 592 mn shares of Al-Nobles for Money Transfer (MTNO) on Dec. 11, 2018, which represents 1.3% of MTNO capital. Source: Iraq-BusinessNews.com. Post your commentary below.
    1 replies | 213 view(s)
  • Investors Iraq News's Avatar
    12-14-2018, 11:19 AM
    By John Lee. The United Nations has advertised new positions in Iraq: Logistics and Procurement Assistant, International Commission on Missing Persons (ICMP) Administration Associate Travel, WFP – World Food Programme Business Transformation Officer, WFP – World Food Programme Independent Consultant, Heartland Alliance for Human Needs Safe Return Capacity Building Officer, Heartland Alliance for Human Needs Iraq Governance and Performance Accountability (IGPA), Development Alternatives, Inc. (DAI) (Source: UN) (Picture: Finger pressing a new career start button, from Olivier Le Moal/Shutterstock) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 89 view(s)
  • Investors Iraq News's Avatar
    12-14-2018, 11:19 AM
    By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Monitoring and Evaluation Officer/Reporting Officer, ICMP – International Commission on Missing Persons Field Project Officer, IOM – International Organization for Migration Quality Assurance/Quality Control Engineer Specialist, IOM – International Organization for Migration Security Assistant, WFP – World Food Programme Business & Data Analyst Officer, WFP – World Food Programme Communication and Reporting Officer, UNOPS – United Nations Office for Project Services Associate Admin/Finance Officer, UNHCR – United Nations High Commissioner for Refugees Protection Officer, UNHCR – United Nations High Commissioner for Refugees (Source: UN) (Picture: Success, growth, career, development signpost from 3D_Creation/Shutterstock) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 92 view(s)
  • Wolverine's Avatar
    12-13-2018, 04:34 PM
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