Asiacell Revenues Up

By John Lee. Qatar-based Ooredoo has announced that revenue at its Asiacell subsidiary in Iraq increased 6 percent to QAR 4.5 billion, while and EBITDA increased 3 percent to QAR 2.0 billion, for the year ended 31th December 2017. EBITDA margin was put at 44 percent. In a statement, the company said: “A key opportunity […]

Oil Exports Fall Slightly in January

By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for January of 108,190,068 barrels, giving an average for the month of 3.490 million barrels per day (bpd), a slight decrease from the 3.535 bpd exported in December. The exports were entirely from the southern terminals, with no exports from Kirkuk via Ceyhan. Revenues […]

Iraqi Stock Market Continues to Climb

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th Feb 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD926 (+5.7%) / $966 (+5.9%) (weekly change) (+14.2% and +15.5% YTD change, respectively). The number of week traded […]

Kuwait Energy signs Block 9 Farm-out Agreement

Kuwait Energy Signs Block 9, Iraq Farm-out Agreement with Dragon Oil Kuwait Energy (KEC) has announced the signing of the Block 9, Iraq Farm-out Agreement with Dragon Oil (a wholly-owned subsidiary of Emirates National Oil Company Ltd, the national oil company of Dubai). As per the Farm-out Agreement, Kuwait Energy will assign a 15% participating […]

Investments in Health can contribute to Peace Dividends

In the lead-up to the Kuwait International Conference for Reconstruction of Iraq, the World Health Organization (WHO) calls on the international community to further invest in Iraq’s devastated health sector. In Anbar, Ninewa, Salah Al Din, and Kirkuk, 14 hospitals and more than 170 health facilities were damaged or destroyed in the three-year conflict. Water […]

US Ambassador, UNDP visit the Ninewa Plains

Ambassador Silliman and Lise Grande of UNDP Visit the Ninewa Plains Ambassador of the United States to Iraq Douglas Silliman joined the Deputy Special Representative of the Secretary General and UNDP Resident Representative Lise Grande for a visit to several sites in the Ninewa Plains to highlight the U.S.-UN partnership in supporting the Iraqi government’s […]

GardaWorld Weekly Security Report

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 […]

“Severe Punishment” for Price Hikes Targeting Tourists

By John Lee. Erbil’s mayor has reportedly warned hotel and motel operators against taking advantage of the increased numbers of tourists by driving up prices and breaking contracts: Nabaz Abdulhamid told Rudaw: “Any hotel or motel owner that hikes up the prices and revokes the signed contracts will be punished severely.” In the past three […]

Legal Assistance for Vulnerable Households in Mosul

UN-Habitat provided legal assistance to 1,015 vulnerable households in Mosul to address their housing, land and property rights claims UN-Habitat in collaboration with its implementing partner, the local NGO Mercy Hands for Humanitarian Aid, concluded the activities funded by the 2017 Iraq Humanitarian Pooled Fund to address housing, land and property rights (HLP) of vulnerable […]

Abadi Reluctant to Lift Embargo on Kurdish Airports

A spokesperson for the Ministry of Transportation in the Kurdistan Region reiterated that the Ministry has not received any formal approval from Iraqi PM Haider al-Abadi to lift the ban on international flights from the airports in the region. Asked whether Baghdad was trying to delay resolving the issue with Erbil, Omed Mohammed said that […]

Six Industrial Projects Open for Investment

By John Lee. Iraq’s National Investment Commission (NIC) has included six industrial projects in its list of major strategic projects to be presented during the Kuwait International Conference for Iraq Reconstruction, to be held in Kuwait from 12th to 14th February: A. Rehabilitation and development of white cement plants in Falluja. Area: 642000m² Production capacity: […]