By Padraig O'Hannelly. Our friend and former contributor Robert Tollast has been touring Iraq's religious and archeological sites. Writing in Middle East Eye, he says: "Iraq still gives visitors a sense of having a private viewing of some of the world's wonders, such as the 4,000-year-old ruins of Babylon, and the awe-inspiring Holy Shrines of […]
Iraq, one of the world's biggest energy producers, can address its current electricity shortfall and growing power needs through immediate action to relieve pressure on the system, according to an in-depth report published Thursday by the International Energy Agency. It also provides a medium-term strategy that makes the best use of the country’s abundant oil […]
By John Lee. According to Miriam Malek, writing for S&P Global Platts, Iraq is again becoming a viable destination for energy investment after the final defeat of Islamic State and the election of a new government revived interest in the region's second-largest oil producer. The US, Qatar, Saudi Arabia and Iran are now vying for […]
By Ahmed Tabaqchali, for 1001 Iraqi Thoughts. Iraq's new entrepreneurial generation of civil activists' sense of civic duty flourished during the trauma brought by the ISIS takeover of a third of the country in 2014, and has continued to grow since then as reviewed in a recent report. The report into "A New Generation of […]
The U.S. Embassy in Baghdad hasd advised all U.S. citizens of heightened tensions in Iraq and the requirement to remain vigilant. Actions to Take: Do not travel to Iraq Avoid places known as U.S. citizen gathering points. Keep a low profile Be aware of your surroundings Assistance: U.S. Embassy Baghdad Al-Kindi Street, International Zone, Baghdad […]
IOM Iraq’s Enterprise Development Fund (EDF) encourages rapid, large-scale private sector job creation and economic recovery through tailored support to Small and Medium Enterprises (SMEs). The EDF is a financing mechanism that provides SMEs with financial capital to contribute to their recovery and/or expansion. To assess the capacity of the market to absorb medium-sized grants, […]
By John Lee. The China Petroleum Engineering and Construction Corporation (CPECC) has been awarded a contract to recover natural gas from the Halfaya oilfield. Planned production is put at 300 million standard cubic feet of gas per day, according to a statement from Iraq's Ministry of Oil. (Source: Ministry of Oil)
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 […]
By John Lee. Standard Chartered bank is reportedly reviving stalled plans to open a new branch for corporate customers in Basra in the first half of 2020. This would be the UK-based bank's third branch in Iraq. Its Iraq CEO Mohammed Jawad Al-Delaimy told Bloomberg: “Security in Iraq has improved dramatically ... We have witnessed […]
By John Lee. Japex is reportedly planning to increase production at the Gharaf oil field from around 90,000 barrels of oil per day (bpd) currently to 230,000 bpd by the end of 2020. S&P Global Platts quotes Japex director Michiro Yamashita as saying that the company has allocated capital expenditure of $460 million for the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th May 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD596 (+1.8%) / $642 (+1.8%) (weekly change) (-9.6% and -9.6% YTD change, respectively). The number of week traded […]
By Padraig O’Hannelly. Building a successful business means delivering what you promise. When I recently needed to go to Baghdad at short notice, I remembered a conversation I had with Abir Burhan, Operations Director of Al-Burhan Group: “Any time you want to go to Iraq,” he said, “we can take care of your visa, flights, […]
