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  • Investors Iraq News's Avatar
    Today, 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.
    0 replies | 7 view(s)
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    Today, 02:09 AM
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    Yesterday, 09:51 PM
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  • Investors Iraq News's Avatar
    Yesterday, 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 | 24 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 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 | 24 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 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.
    0 replies | 27 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 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 | 24 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 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 | 25 view(s)
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