By Hussein Ali Alzoubi, for Fanack.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq: Drought Threatens Marshes Iraq drought caused by natural, administrative and political factors prompted the Iraqis living near the marshes to migrate from their areas. Click here to download the […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Rallies as it Begins to Discount the Budget's Passage The market, as measured by the Rabee Securities RSISX USD Index, was up 9.2% in June and […]
By John Lee. The United Nations Assistance Mission for Iraq (UNAMI) has awarded a contract for the rental of fully serviced interim accommodation and office facilities for UNAMI in Basra. It was awared to Sumer For Real Investments Ltd (doing business as Basra International Hotel), and will run for three years, from 1st August 2023 […]
By John Lee. An Iraqi government spokesman has said that Iraq is considering reviving plans to use an oil export pipeline through Syria. Following Prime Minister Muhammad Shia'a Al-Sudani's visit to the country last month, Basem Al-Awadi told the state-owned Iraqi News Agency (INA) that Iraq is ready to discuss with Syria the development of […]
By John Lee. Genel Energy has issued a presentation relating to its half-year results to the end of June. Click here to download. (Source: Genel Energy)
By John Lee. Fitch Ratings has placed Iraq's Sumer Commercial Bank PSC's (SCB) Long- and Short-Term Issuer Default Ratings (IDRs) of 'CCC+' and 'C', respectively, and Viability Rating (VR) of 'ccc+' on Rating Watch Negative (RWN). It says the recent ban that prohibits SCB from dealing in US dollars restricts the bank's capacity to repay […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd August 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,112.5 -0.8% 22.2% RSISX USD Index 1,093.8 […]
By John Lee. In an effort to address the water scarcity crisis and expedite the implementation of a seawater desalination plant project in Basra province, the Iraqi Cabinet has made the following decisions: Amendment to Previous Decision: The Cabinet has revised the resolution made in 2021 under Cabinet Decision No. 315. Project Transfer: The Ministry […]
By John Lee. Revenues at Genel Energy have, as expected, fallen sharply as a result of the closure of the Iraq-Turkey Pipeline (ITP) which brings oil from Northern Iraq to Turkiye's port of Ceyhan. In its unaudited results for the period ended 30 June 2023, Paul Weir, Chief Executive of Genel, said: "The closure of […]
By John Lee. The Kurdistan Regional Government (KRG) has said that the Gomaspan Dam in Erbil Governorate will be the third largest in the Kurdistan Region when it's completed in mid-2024. Key statistics: Location: Erbil Governorate, Kurdistan Region Size: Third largest dam in Kurdistan Region Reservoir Storage: Expected 115 million cubic metres Water Usage: Irrigation: […]
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG, UNDP, USAID discuss reforming Kurdistan Region tourism The Kurdistan Region Government (KRG) is discussing a reform program for the tourism sector along with a United Nations development agency and a United States aid […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for July: Total exports of crude oil: 106,755,169 barrels Revenues from crude oil exports: $8.293 billion Oil fields in central and southern Iraq accounted for 105,487,610 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. Oil […]
