By John Lee. Prime Minister Mohammed Shiaa Al-Sudani presided over the Tax System Reform Conference in Iraq on Wednesday. In his address, he commended the organizers for their dedication to tax reform, acknowledging the insightful research contributions from government officials, business leaders, and international organizations. He said that total imports, according to data from the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 7th December 2023). Please click here to view a table of listed companies and their associated ticker codes. Note: ISX will be closed on Dec. 10 (Sunday) due to a national holiday (Victory Day). The next trading session will be held on Dec. […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani inaugurated the Basra Industrial Partnerships Forum, a two-day event organized by the Ministry of Industry and Minerals in collaboration with the private sector. According to a statement from the PM's office, the forum showcased successful industrial projects in mineral investment, fertilizers, agricultural sprayers, iron, steel, and chlorine […]
By John Lee. The Ministry of Electricity (MoE) of the Republic of Iraq has awarded Siemens Energy a contract to deliver five High Voltage Substations on a turnkey basis to address the increasing demand for power transmission in Iraq, providing power to around 2.5 million homes. The government of Iraq is focusing on strengthening the […]
By John Lee. The Kurdistan Region is preparing for a bustling winter tourism season, according to a statement from the Kurdistan Regional Government (KRG). Sirwan Tofiq, the marketing head at the KRG Board of Tourism, briefed the Department of Media and Information on the efforts to attract winter tourists to destinations like Gara Mountain, Penjwen, […]
From Cobic-Ex. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Electrical equipment, from industrial machines to everyday devices like smartphones, can become potential ignition sources due to electric arcs and heat generation. This is particularly critical in hazardous environments where flammable gases or […]
By John Lee. Baghdad-based Sar Albraa for General Contract and Trade has won two contracts with the United Nations Assistance Mission for Iraq (UNAMI): "Construction and Connection of Storm water Networks in Al Ahrar Neighborhood, Basra." The contract is valued at $358,515, with a potential end date of November 30, 2026. "Construction and Connection of Storm […]
By John Lee. Fitch Ratings has affirmed Gulf Commercial Bank (GCB)'s Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating, "reflects a weak operating environment, the bank's weak franchise and volatile business model, high risk appetite, including still high related-party lending, and weak asset quality and profitability." […]
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. Government Starts Implementing the Expansionary 2023 Budget The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was up 7.1%. for the […]
By John Lee. International oil companies operating in Iraqi Kurdistan have been excluded from ongoing discussions regarding the production and export of oil from the Region, according to the trade body representing them. A statement from the Association of the Petroleum Industry of Kurdistan (APIKUR) on Tuesday said: "APIKUR member companies -- which represent the […]
By John Lee. Qatar's Ooredoo, Kuwait's Zain Group and TASC Towers Holding of Dubai are to create the largest tower company in the MENA region, in a cash and share deal. The enlarged tower company, comprising approximately 30,000 towers, has a combined estimated current enterprise value of USD 2.2 billion. Ooredoo and Zain will equally […]
By John Lee. The Deputy Ambassador at the Chinese embassy in Baghdad, Xu Haifeng, told the state-run Iraqi News Agency (INA) that trade exchange between the two countries is increasing at a rapid pace: Trade Volume and Increase: Chinese embassy disclosed trade data with Iraq, highlighting a year-on-year increase in purchases by approximately 48%. Trade […]
