By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Meet Iraq's new Cabinet After months of deadlock and political crisis, and following the failure of two other prime minister-designates, the Iraqi parliament finally approved Mustafa Kadhimi for the premiership - also […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 7th May 2020). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD548 (+9.0%) / $569 (-+9.0%) (weekly change) (-16.8% and -18.8% YTD change, respectively). The number of week traded […]
DNO ASA, the Norwegian oil and gas operator, has reported that it had identified and implemented 2020 budget cuts of USD 350 million or 35 percent across all spend categories as the Company moved early and quickly to protect its personnel and operations and preserve its cash position in response to the the devastating impact […]
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Lockdown Iraq & the month of Sundays" Iraq, like other countries, went into full lockdown on March 16th that was only partially lifted […]
By John Lee. US Secretary of State Mike Pompeo (pictured) has welcomed the formation of a new government in Iraq following months of instability. In a phone call with the new Prime Minister, Mustafa Kadhemi, he said that the US would not enforce sanctions on Iraq buying electricity from Iran for 120 days "as a […]
By John Lee. Iraq's Council of Representatives (Parliament) on Thursday approved by a majority the government programme presented by Prime Minister Mr. Mustafa Al-Kadhimi. The programme is a general framework that sets out the government priorities, which include: Holding free and fair early elections after finalising the new electoral law Mobilising all resources to combat […]
By John Lee. Iraq's Council of Representatives (Parliament) on Thursday approved fifteen candidates nominated by Prime Minister Mustafa Al-Kadhimi for membership of the Council of Ministers (the Cabinet). Reuters reports that voting on the oil and foreign ministries was delayed as the parties failed to agree on candidates. The parliament rejected Kadhimi's picks for justice, […]
China's Recon Technology has announced that it has signed a $2.8-million engineering and construction service subcontract with Grand Energy Development Limited on a heavy oil transportation system project (the "Project") at the Garraf oilfield in Iraq for the services that Recon has provided. Pursuant to the subcontract, Recon shall carry out all the engineering design […]
DNO ASA, the Norwegian oil and gas operator, has announced completion of testing and appraisal of the Baeshiqa-2 exploration well in the Kurdistan Region of Iraq and the imminent spud of an exploration well on a separate prospect, Zartik, located 15 kilometers southeast on the same license. The testing has proven oil and gas in […]
The Higher Committee for Health and National Safety held a meeting in Baghdad on Monday via video conferencing under the chairmanship of Prime Minister Adil Abd Al-Mahdi. The Committee reviewed and evaluated current measures to combat Covid-19 and received briefings from the Ministry of Health, specialists and officials from relevant ministries. The Prime Minister commended the […]
An Iraqi lawmaker said Baghdad is considering purchasing advanced Russian air defense systems to enhance its air capabilities and protect its airspace. Baghdad is studying the purchase of Russian made long-range, surface-to-air S-300 systems or S-400 missile defense systems if the United States does not provide it with modern air defense systems, the Chairman of […]
IBBC contributes to World Bank launch and assessment on Iraq Economic Monitor Iraq Economic Monitor - Spring 2020 - Navigating the Perfect Storm. The World Bank has released its latest report on Iraq entitled "Navigating the Perfect Storm" with a special focus on "Laying the Foundations for a New Economy in Iraq: Digital Transformation". See […]
