Archive | 2024

Iraq-Malaysia Direct Flights to Resume in February

By John Lee. The Ministry of Transport has reportedly announced the resumption of direct Iraqi Airways flights between Iraq and Malaysia. According to the state-run Iraqi News Agency (INA), the Baghdad to Kuala Lumpur route will start in early February with one flight per week. (Source: INA)

Iraq Reveals Joint Projects with Saudi in Healthcare, Pharma

By John Lee. The Iraqi Health Ministry has announced new initiatives with Saudi Arabia, focusing on establishing health centers and pharmaceutical factories. Speaking to the state-run Iraqi News Agency (INA), Minister of Health Saleh Al-Hasnawi emphasized the significant development in Iraqi-Saudi relations, spanning political, economic, and service sectors. He said the two ministries are jointly […]

Iraq Stock Market Report

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th January 2024). 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 1,534.0 -1.3% -1.3% RSISX USD Index 1,508.3 […]

Training Program to Enhance Animal Feeding Practices in Iraq

FAO Facilitates Cutting-Edge Training Program to Enhance Animal Feeding Practices in Southern Governorates of Iraq Following the decision made by His Excellency the Iraqi Prime Minister Mohammed Shia' Al-Sudani, to allocate 5 billion dinars to support buffalo breeders in the marshes, a major initiative has been launched, coupled with the Ministry of Agriculture's (MOA) strategic […]

Happy New Year from all at Iraq Business News!

As we kick off the new year with our first newsletter, we extend a heartfelt appreciation to all our contributors, with a special acknowledgment to our Expert Bloggers, Ahmed Mousa Jiyad and Ahmed Tabaqchali (AFC Iraq Fund), who have generously shared their wisdom and observations with us over the past twelve months. We eagerly anticipate […]

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Iraq Aims for 6m bpd Oil Production in 5 Years

By John Lee. The Iraqi Ministry of Oil has said that plans are under way to increase oil production, with the aim of achieving a rate of 6 million barrels per day (bpd) within five years. The statement followed a meeting attended by the Undersecretaries of the Ministry, and a number of officials from key […]

Iraq Earns $8.3bn from Oil Exports in December

By John Lee. Iraq's Ministry of Oil has announced preliminary oil export figures for December: Total exports of crude oil: 108,056,590 barrels. Revenues from crude oil exports: $8.316 billion. Oil fields in central and southern Iraq accounted for 107,592,532 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. […]

$1.4m Contracts to Rehabilitate War-Damaged Shelters

By John Lee. Abeer Alshimal Company For General Contracting Ltd. has won a contract with the United Nations Office for Project Services (UNOPS) for the "Rehabilitation of 56 War Damaged Shelters in Ana & Haditha." The contract is valued at $295,593. Under the same reference, UNOPS granted Al-Fityan Company For General Contracts Ltd a contract for […]

Iraqi Cabinet Approves $736m Residential Project

By John Lee. In its first regular session of the year, the Iraqi Cabinet approved a $736,243,600 integrated residential project, to be constructed on parcels 25/12, 23/75, and 23/76 in District 21, Al-Salam, Baghdad. It granted approval for Ahl Al-Wafa Trading and General Contracting to implement the project and obtain the investment license for the […]

EY to Advise Iraq on Banking and Insurance Reforms

By John Lee. The Iraqi Cabinet has approved a series of contracts with UK-based professional services firm Ernst & Young (EY), aimed at reforming Iraq's banking and insurance sectors: The first contract involves a comprehensive study on the restructuring of the state-owned Rafidain Bank and Rasheed Bank, with recommendations and a roadmap expected within six […]