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  • Wolverine's Avatar
    Yesterday, 11:43 PM
    Exactly !!!
    513 replies | 27148 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 09:47 PM
    Iranian Foreign Minister Mohammad Javad Zarif met a group of Iraqi tribal leaders from south of the country in the holy city of Karbala. During the last leg of his meetings with Iraqi officials, elites and representatives of Iraqi society from various ethnicities and regions, Zarif sat for talks with the tribal leaders and clans’ representatives of southern Iraq in the consulate of the Islamic Republic of Iran in the holy city of Karbala. During the cordial meeting on Wednesday, some of Iraqi tribal leaders and representatives expressed their views and ideas about the strong bonds between the two nations of Iran and Iraq, Foreign Ministry website reported. For his part, Iran’s top diplomat referred to the close relations between the two nations over the past centuries and pointed out that nothing, even the imposed war by the former dictator of Iraq on Iran, could not separate the two nations. “The love of the third Shiite Imam, Hussein ibn Ali (AS) has served as a bond connecting us together,” he said, adding that Arbaeen, the anniversary of 40th day after the martyrdom of Imam Hussein (AS) is a beautiful picture of companionship, self-sacrifice, hospitality and sympathy between the peoples of Iran and Iraq. He also thanked Iraqi tribes for their warm hospitality to the Iranian pilgrims flocking to the holy cities of Najaf and Karbala each year to commemorate Arbaeen. Zarif then underlined that Iran and Iraq are now involved in the construction process and added the two sides should put their focus on improving the living conditions of their people through overcoming the current obstacles and preparing the ground for further economic cooperation. “Building on the two sides’ capacities, we can increase our annual trade volume by 20 billion dollars and if the ground is prepared, the Islamic Republic is ready to proudly share its achievements in energy, engineering, agriculture and trade areas with the Iraqis,” he concluded. Iranian foreign minister arrived in Iraq on Sunday afternoon and held separate meetings with various Iraqis officials from the central government in Baghdad to Kurdistan semi-autonomous region. (Source: Tasnim, under Creative Commons licence) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 16 view(s)
  • 40plus's Avatar
    Yesterday, 09:38 PM
    This will all be made public, it will shock a lot of Americans, when they realize what many of their brothers have been saying for decades is true. If you're fit, stand up and represent, future generations depend on our doing the right thing now. Liars, thieves, and abusers must go. The current administration is accomplishing what was promised, and I think it's going to be HUGE.
    513 replies | 27148 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 07:46 PM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th January 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD642 (-4.4%) / $691 (-4.4%) (weekly change) (-2.5% and -2.7% YTD change, respectively). The number of week traded shares was 28.1 bn and the weekly trading volume was IQD10.2 bn ($8.4 mn). ISX Company Announcements According to the ISX announcement, the opening price of the IQD5.0 mn class bonds (CB125) will be IQD5,322,192 on Sunday (Jan. 20, 2019). As part of the contribution to support the Iraqi economy, the Central Bank of Iraq (CBI) announced that through its IQD1.0 trln initiative given as a maximum amount for SME projects, it gave more than IQD33 bn during 2018. Since the start of the project in May 2015 until the end of 2018, IQD73 bn were given to projects, where the trade sector got 59%, services 25%, industrial 12% and agricultural sector 4%. The initiative includes 34 banks, 33 private banks and one state bank, while the loans for these projects ranged from IQD5 mn to IQD50 mn, it could reach IQD100 mn if it is approved by the Central Bank. (CBI) Commercial Bank of Iraq (BCOI) resumed trading on Jan. 17, 2019 after discussing and approving 2017 annual financial results and deciding to distribute 3.5% cash dividend (7.3% dividend yield). Ashur International Bank for Investment (BASH) resumed trading on Jan. 17, 2019 due to disclosing its 9M18 financials. Bain Al-Nahrain Investment (VMES) resumed trading on Jan. 17, 2019 after discussing and approving 2017 annual financial results. New shares of Al-Hamraa for Insurance (NHAM) from the capital increase from IQD5 bn to IQD7 bn through 40% bonus issue resumed trading on Jan. 16, 2019. ISX requested Al Taif Islamic Bank to submit the required documents in order to start trading on the ISX as an Islamic bank. Modern Animal & Agricultural Production (AMAP) was not suspended from trading on Jan. 14, 2019 because the company fulfilled ISX request to explain why the prices touched the higher limits on Jan. 8, Jan. 9, Jan. 10 and Jan. 13, 2019. The company disclosed that they started the legal procedures to own Soft Dairy Factory (Alban Al-Rfq) and the company also added that it started maintenance and adding new equipments in Halal Dairy Factory (Al-Halal) which will lead to increase production and quality of production. Cross Transactions: 24.7 bn shares of Trust International Islamic Bank (BTRU) on Jan. 14, 2019, which represents 9.9% of BTRU capital. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 20 view(s)
  • Wolverine's Avatar
    Yesterday, 06:20 PM
    513 replies | 27148 view(s)
  • Wolverine's Avatar
    Yesterday, 05:26 PM
    513 replies | 27148 view(s)
  • Wolverine's Avatar
    Yesterday, 05:16 PM
    513 replies | 27148 view(s)
  • Wolverine's Avatar
    Yesterday, 03:38 PM
    513 replies | 27148 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 11:48 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 | 28 view(s)
  • 40plus's Avatar
    Yesterday, 06:51 AM
    Qmap.pub ROCK AND ROLL BABY!!! :cool:
    513 replies | 27148 view(s)
  • crazyfrank's Avatar
    01-18-2019, 11:38 PM
    Tuna, this is the first time anyone I have seen anyone post about Warka physically kicking something back via physical mail. Although I myself have some personal experience with a similar situation where Mr. I himself choose to return a "package" back, and he and I both were pleasantly surprised it did indeed make it back. (say no more) Based on what you described about the UPS package condition, it arrived, it appears they opened it, reviewed it, and just now they choose to reseal it and send it back, hopefully with all intact. I am surprised it came with no explanation inside or follow up e-mail messages though. I am sure you have already generated some e-mail traffic to them asking WTF? One must agree it is a good thing they did indeed choose to send it back rather than put it into the Allahu Akbar brand shredder. Those are fairly valuable copies of personal documents to loose track of, and in a way they did you a favor by sending them back, they can be now applied to opening another account possibly with Al-Kamal brokerage, and James here can provide some guidance there for that path if you so desire. Aside from that the question remains ............... why did they send it back? my guess........... they looked it over and saw something wrong, data missing, and was unable to proceed they looked it over and a call came in from the booth and a "delay of game" plenty was called as it was beyond the stated proxy deadline, as well as the overtime extension period they have shut down the Warka ISX brokerage department and were cleaning out old business they have re-activated the Warka ISX brokerage department and saw it was in limbo and needed to close out old business
    7 replies | 225 view(s)
  • spacetuna's Avatar
    01-18-2019, 08:19 PM
    Crazyfrank- it was pretty demolished looking to be honest so it was hard to tell. My initial thought that was it was a return to sender because it had my original label with my address circled on it and and something written in Arabic. But the envelope looked like it might have been opened and taped back together. So I'm not really sure. I didn't see a new label or postage on it. Investindinar- no, I've emailed several times and haven't gotten a straight answer from them. They have responded without answering my question exactly like they did to you.
    7 replies | 225 view(s)
  • investindinar's Avatar
    01-18-2019, 06:53 PM
    I would like to know the answer to that question too, crazyfrank. By the way, spacetuna, did you have any stock shares formerly with Al Warka transferred over to the ISX? I requested those folks to do just that, back in February 2018, but so far, my questions on the whereabouts of my stock shares have never been answered. I would like to know what they did with my shares, and whether or not they sold them outright, after I asked them to transfer all of them to the ISX. Every time I send them a query on the status of my stock shares, all I get is some form of 'boiler plate' letter restating what they said earlier in February 2018. In effect, that if we didn't send over the certified documents signed off by the Iraqi embassy, etc., those shares would be sold off and the proceeds deposited into our bank account with Al Warka. investindinar
    7 replies | 225 view(s)
  • crazyfrank's Avatar
    01-18-2019, 06:13 PM
    To expand on this a bit now, was this paperwork repackaged by Warka in a new package? as if they received it, opened it, reviewed it, and then decided repack and send it back to you? or was it like a "return to sender" thing, as if it was never delivered?
    7 replies | 225 view(s)
  • spacetuna's Avatar
    01-18-2019, 06:02 PM
    So, probably unrelated.... But yesterday via UPS I received the paperwork that I had sent to Warka Bank back at the beginning of last year. The forms so that our stocks held in proxy could be transferred to the ISX. Kind of weird for them to mail it back to me after a year had gone by.
    7 replies | 225 view(s)
  • crazyfrank's Avatar
    01-18-2019, 01:59 PM
    ok well as one might have expected the translation needs a translation.............I made a follow up on this and from what I was told, this letter is the CBI asking all banks to confirm that all banks in country have already uninstalled/halted/canceled charging any percentage commissions on any currency exchanges/deposits below $30 US dollars. The translation tends to indicate something along those lines, but it is vague still. I find it odd that they use the $30 amount threshold, as well as using the US Dollar value to benchmark something like this. The speculation on this indicates this is a preliminary move, as if a pending currency value change is foreseen, and any commission charges would be detrimental at that amount, and negate/offset any commissions on exchanges below that threshold.
    7 replies | 225 view(s)
  • bultn's Avatar
    01-18-2019, 01:49 PM
    It was destroyed by idiot presidents. Now the US is trying ...
    513 replies | 27148 view(s)
  • Will-it-happen?'s Avatar
    01-18-2019, 07:28 AM
    I used a piccy translator for the main portion : To all banks/did you uninstall update Commission greetings. Later in our book labeled with numbers/201879 3733/8/13 dated. Decide to cancel work organizational purposes 13 numbered our book in DD/207/20091 of/containing ' e 315 update (%) P n ()), below the $30 deposits (20 foreign dolaraalnkodih 30 banks in the Bank as of the date/20111/. with appreciation Dr Munther Abdel Qader shaikhali Deputy Governor 5/19/1 agency.
    7 replies | 225 view(s)
  • Screaming Eagle's Avatar
    01-18-2019, 01:16 AM
    Sad but true. If things don't change CA. will be the same!!
    513 replies | 27148 view(s)
  • Wolverine's Avatar
    01-18-2019, 12:08 AM
    New exploration captures support Eni’s aggressive Middle East growth strategy By will scargill, senior oil & gas analyst, GlobalData on 1/14/2019 LONDON -- Following recent announcements of Eni S.p.A.’s acquisition of new exploration acreage in Bahrain, the UAE and Oman, Will Scargill, senior oil & gas analyst at GlobalData offers his view on their place within the company’s wider strategy: “Eni’s recent acreage captures in the Gulf are part of a strategy for major growth in the Middle East. Over the past two years the company has acquired major development and production assets, and these new exploration licenses will make it a key player in the region’s exploration in the coming years. “In March 2018, Eni announced its acquisition of interests in the producing Lower Zakum and Umm Shaif & Nasr concessions in the UAE. Combined with an increase in production from the Zubair field in Iraq – Eni’s only pre-existing production asset in the region – we expect these acquisitions to drive strong production growth. Eni's Middle East production in 2018 is estimated to have been over double the 2017 figure, with a further 20% growth expected in 2019, according to GlobalData. “On top of these production acquisitions, Eni has also secured a 25% interest in the UAE’s Ghasa sour gas development. This will add further production when the fields come on stream, expected in 2022-23. “Eni will hope to secure longer term production growth in the region through its new exploration acquisitions. Such intentions were already shown by the acquisition of Block 52 offshore Oman in 2017 and the company’s unsuccessful bidding for two blocks in last year’s Iraqi bid round. The new blocks in Bahrain, Oman and the UAE will make it a major acreage holder in the region. “Operational synergies resulting from a concerted regional growth strategy may also benefit Eni. For instance, the company hopes that the proximity of the new UAE acreage to its development and production assets may support rapid development of any discoveries, emulating the successes that it has had with this approach elsewhere.”
    0 replies | 53 view(s)
  • Wolverine's Avatar
    01-17-2019, 11:53 PM
    Lukoil has confirmed Eridu field geological model 1/10/2019 MOSCOW -- Lukoil has successfully completed testing of the fourth well as part of Eridu field (Block 10) appraisal phase in the south of Iraq. The testing resulted in the commercial flow of dry crude oil that proves the current geological model of Eridu field as effective. ​ Lukoil continues geological exploration at Block 10. For instance, the company plans to drill and test several appraisal wells and to complete 3D and 2D seismic surveys for Eridu field and the block's southern and central parts, respectively. Information Block 10, covering 5.8 Mkm2, is located 150 km west of Basra, 120 km away from West Qurna-2 field. Interests in the project: LUKOIL – 60% (operator), INPEX Corporation (Japan) – 40%. The Iraqi party to the agreement is represented by the state-owned Thiqar Oil Company.
    0 replies | 57 view(s)
  • crazyfrank's Avatar
    01-17-2019, 11:15 PM
    I was sent this letter on CBI letter head via e-mail today and I have no clue how to translate it, and i am told its something I need to learn about, can anyone here help?
    7 replies | 225 view(s)
  • crazyfrank's Avatar
    01-17-2019, 05:22 PM
    James, thanks for the heads up on this. Although I believe its safe to assume there have been a few more cash/stock dividends awarded over the last few years from other holdings, and for those of us who are in the Warka limbo category, it seems that their brokerage department is in dormant mode on these cash/stock dividends being collected. Has anyone herd any news on Warka bank? or the brokerage department at all? I do see that they are responding to password actions so they are breathing, but beyond that it seems they have gone into "radio silence" mode still aye?
    5 replies | 224 view(s)
  • Wolverine's Avatar
    01-17-2019, 02:45 PM
    ...your logic is dry as a popcorn fart
    513 replies | 27148 view(s)
  • James's Avatar
    01-17-2019, 01:22 AM
    Yes but I always send an email and ask them to act on my behalf. I check my account see when dividends have been posted. Sometimes it is a few weeks after the posting of said dividend.
    5 replies | 224 view(s)
  • Investors Iraq News's Avatar
    01-17-2019, 12:52 AM
    By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Country Director, Danish Refugee Council (DRC) Project Coordinator – Economic Recovery, Danish Refugee Council (DRC) Technical Advisor, UNDP – United Nations Development Programme Electricity Law Specialist, UNDP – United Nations Development Programme Emergency Officer (Field Coordination), IOM – International Organization for Migration National Protection Officer, IOM – International Organization for Migration RRU Team Leader, IOM – International Organization for Migration RRU Regional Livelihoods Technical Advisor, IOM – International Organization for Migration (Source: UN) (Picture: Success, growth, career, development signpost from 3D_Creation/Shutterstock) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 76 view(s)
  • Investors Iraq News's Avatar
    01-17-2019, 12:52 AM
    By John Lee. The United Nations has advertised new positions in Iraq: Support Services Manager, Humanity and Inclusion (HI) Administration Manager, Humanity and Inclusion (HI) Chief Information Officer Advisor, Development Alternatives, Inc. (DAI) Chief of Party, Concern Worldwide Forensic Archaeologist, ICMP – International Commission on Missing Persons RRU Regional Livelihoods Technical Advisor, UNAMI – United Nations Assistance Mission for Iraq RRU Team Leaders, UNAMI – United Nations Assistance Mission for Iraq Dentist, UNAMI – United Nations Assistance Mission for Iraq Associate Political Affairs Officer, UNAMI – United Nations Assistance Mission for Iraq Youth Assistant, Norwegian Refugee Council (NRC) (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 | 70 view(s)
  • Investors Iraq News's Avatar
    01-17-2019, 12:52 AM
    MAN Energy Solutions has successfully commissioned six MAN 18V32/40 engines in a cement factory in Samawa, Iraq, and delivered five more engines of the same type to a freshwater-treatment plant in Basra. “The country’s infrastructure has suffered greatly from armed conflict in the past and the re-electrification of Iraq is pivotal for further growth and new prosperity. We are very happy that our engines will bring such tangible, positive benefits to the Iraqi people,” said Waldemar Wiesner, Head of Region MEA (Middle-East Africa), Power Plant Sales, MAN Energy Solutions. Defying the desert The six engines in Samawa form the backbone of a power plant that will generate around 54 MW of electrical energy for a new cement plant owned by Iraqi producer, Kairat Al Abar Iraqi Co. (KAAI). Samawa has a population of around 150,000 and is located on the River Euphrates, half way between Baghdad and the Persian Gulf. Conditions locally are testing with a rainfall of just 100 mm over the course of a year, while temperatures peak at over 40°C from June to September. “The heat and dry desert climate create demanding conditions for industrial processes,” said Wiesner. “However, our MAN 32/40 engines are particularly robust and well capale of delivering a reliable power supply under such extreme climatic conditions.” Fresh water in Basra Five MAN 18V32/40 engines with a total capacity of 45 MW will guarantee the energy supply of a freshwater-treatment plant in Basra, a city with 2.5 million people located on the Persian Gulf. Normally, the plant operates with electricity from the public grid. However, since Iraq’s energy supply still fluctuates strongly, the MAN engines will serve as an important backup to ensure the reliable operation of the plant. “In Iraq, more than five million people have only limited access to drinking water or sanitary facilities. With this new freshwater plant, the quality of life for the people of Basra will increase significantly,” said Wiesner. “In the event of power failures, which unfortunately still occur frequently, our engines will ensure a stable energy supply so that Basra’s population has access to fresh water at all times.” (Source: MAN Energy Solutions) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 75 view(s)
  • Investors Iraq News's Avatar
    01-17-2019, 12:52 AM
    Shares in Gulf Keystone Petroleum (GKP) closed 4.3 percent higher on Wednesday after the company provided an operational and corporate update. Operational Production operations, underpinned by strong performance of the Shaikan Jurassic reservoir, continue in line with expectations. Average gross production of 31,563 barrels of oil per day (“bopd”) was achieved in 2018, at the upper end of the 27,000 – 32,000 bopd guidance. The plant debottlenecking programme required to expand gross production capacity to 55,000 bopd from PF-1 and PF-2 remains on schedule for completion towards the end of 2019. GKP has signed an agreement with Independent Oil Tools to use ‘Rig 1’ during the Company’s workover programme to replace tubing on SH-1 and SH-3 wells and install downhole pumps (“ESPs”) on three other existing wells. The rig has been mobilised and is currently performing a workover on the SH-1 well to install larger bore tubing to increase productivity. GKP has also signed an agreement with the rig operator, DQE, to use ‘Rig 40’ for its upcoming drilling campaign, due to start in March 2019, with the first four wells (needed for the 55,000 bopd target) expected to be completed in Q1 2020. Since July 2018, all production from PF-2 has been exported via the Atrush export pipeline which connects to the main Kurdish export pipeline. Additional pumps along with a temporary unloading facility have now been installed at PF-2 which allows the majority of production from PF-1 to be trucked to PF-2 and exported via pipeline. Today, only ca.3,000 bopd are exported by truck via Fishkhabour which lowers HSSE exposure. Further progress has been made, including delivery of all 16″ pipeline to the field, on the installation by KAR Group of the pipeline also connecting PF-1 to the Atrush export pipeline. This remains on schedule to be brought into service mid-2019, at which point the residual trucking of crude oil will be eliminated. GKP and its partner MOL have agreed on a staged investment programme to increase gross production up to 110,000 bopd by 2024. The revised Field Development Plan was submitted for approval to the Ministry of Natural Resources in October 2018. The current expansion to 55,000 bopd is already underway. Corporate GKP has continued to receive regular oil payments from the Kurdistan Regional Government, with cash receipts of $225 million net to GKP during 2018. Cash balance of $294 million as at 15 January 2019. The Company remains fully funded to complete the expansion to 55,000 bopd. Gross capital expenditure guidance for the total 55,000 bopd project phase remains unchanged at $200 million to $230 million. Of the 2018 approved gross budget of $91 million, ca.$40 million has been transferred to early 2019 which was primarily driven by delays in delivery of drilling and well completion equipment. Outlook Given the active 2019 investment programme, particularly in new wells and workovers, the Company anticipates improved production levels this year and expects gross average production guidance to be in the range of 32,000 – 38,000 bopd. The above guidance takes account the latest drilling and project schedules, but also the temporary plant shut-downs required in 2019 for the tie-in of new facilities and wells being offline while workovers are taking place. 55,000 bopd production target moved to early 2020 due to delays in the delivery of equipment, affecting the start date of the drilling campaign, originally January, now March 2019. The Company intends to host a Capital Markets Day in the first quarter of 2019. Further details will be announced at a later date. Commenting, Jón Ferrier, CEO, said: “Having successfully laid the foundations for our expansion plans in 2018, we are very pleased to have now initiated our new investment programme at Shaikan. “We continue to make considerable operational headway as we look to safely increase production to 55,000 bopd, in line with our strategy. 2019 is set to be another important year for Gulf Keystone and we look forward to keeping our stakeholders updated on our ongoing progress.” (Source: GKP) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 77 view(s)
  • Investors Iraq News's Avatar
    01-17-2019, 12:52 AM
    Iranian Foreign Minister Mohammad Javad Zarif, who is on an official visit to Iraq, highlighted the positive outcomes of the Iran-Iraq Joint Trade Conference in Baghdad and said the doubling of the bilateral trade “is on the horizon”. “Today, I, accompanied by 6 Iraqi ministers, addressed hundreds of participants at the Iran-Iraq Joint Trade Conference; exploring paths to significantly expand bilateral trade and investment,” Zarif said on his twitter account early on Tuesday. “With implementation of shared vision, doubling of annual trade volume is on the horizon,” he added in his tweet. Heading a high-ranking Iranian delegation, Zarif arrived in Baghdad on Sunday for an official visit. The visit comes against the backdrop of Iran’s efforts to boost its foreign trade in the US sanctions era. Iraq’s foreign minister said recently that his country is “not obliged” to abide by sanctions imposed by the US against Iran and would be pursuing options to continue bilateral trade. (Source: Tasnim, under Creative Commons licence) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 73 view(s)
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