DNO Withdraws Takeover Bid for Genel Energy
By John Lee. DNO ASA confirmed on Friday morning it does not intend to make an offer to acquire Genel Energy plc, following the Genel board's refusal to engage with its proposal. Genel shares fell more than 10% on the news. DNO had proposed 69 pence per share in cash, with a cash-and-share alternative. The […]
Record August for TIR Transit Journeys in Iraq
By John Lee. Iraq recorded 1,754 cross-border transit journeys under the TIR (Transports Internationaux Routiers) system in August, continuing a trend of growth in international road freight transit. Murtadha Karim al-Shahmani, Director General of the General Company for Land Transport, attributed the result to ongoing coordination between relevant authorities and the work of the company's […]
Iraqi Dates Expo Planned for Late October
By John Lee. Plans are under way for an Iraqi Dates Exhibition, scheduled for the end of October, aimed at promoting the export potential of Iraqi dates and strengthening their position in domestic and international markets. The first meeting of the preparatory committee was held by the Private Sector Development Directorate of the Ministry of […]
Death of Nawfal Alssabak, President of Brazil-Iraq Chamber
By John Lee. The Brazil-Iraq Chamber of Commerce and Industry (CCIBI), has announced that its President, Nawfal Alssabak, died on Thursday following a heart attack. In a statement, the Executive Vice President of the CCIBI, Jalal Jamel Dawood Chaya, said that Mr Alssabak worked tirelessly to bring Brazilian and Iraqi companies, authorities, and institutions closer […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 3rd September, 2026. Please click here to view a table of listed companies and their associated ticker codes. Rabee Securities' Market Indexes Change - Weekly Index Code Closings Change (w/w) (%) Change (YTD) (%) IQD-RSISX 2,736.5 -1.29% 7.03% USD-RSISX 2,690.7 -1.29% 7.03% […]
Al-Taif Islamic Bank put into Receivership
By John Lee. Al-Taif Islamic Bank for Investment and Finance has been placed in receivership following the discovery of serious violations that affected its financial position and depositors' funds. The Central Bank of Iraq (CBI) announced the measure today (Thursday, 3rd September), citing Article 59 of the Banking Law No. 94 of 2004 (as amended). […]
Customs Automation Push: ASYCUDA Expansion and Pre-Payment Plans
By John Lee. Plans to expand Iraq's customs automation system and introduce pre-payment of customs duties are under active review. Finance Minister Faleh Sari chaired a meeting on Wednesday with officials from the General Customs Authority and experts from the United Nations Conference on Trade and Development (UNCTAD) to discuss next steps. According to the […]
Iraq's Strategic Oil Production Plan for 2027-2030
By John Lee. Iraq has set a target of raising oil production to around 10 million barrels per day (bpd) by 2030, under a strategic plan covering the period 2027-2030. According to the Prime Minister's Office (PMO), Prime Minister Ali al-Zaidi chaired a meeting at the Ministry of Oil attended by the ministers of finance […]
US Approves $800m Military Helicopter Sale to Iraq
By John Lee. The United States has approved a possible Foreign Military Sale to Iraq for Bell 412EPX and Bell 407M helicopters and related equipment, with an estimated total value of $800 million. The principal contractor would be Bell-Textron, based in Fort Worth, Texas. According to the US Bureau of Political-Military Affairs, the package includes: […]
Top 10 Dinar Articles from August
The following were the ten most read dinar-related articles on Iraq Business News for the month of August: Iraq "Considers Removing Three Zeros from Dinar" Iraq Considers Deleting Zeros from Dinar; Officials Revive Currency Overhaul CBI Denies Reports of New Redenominated Currency You Bought Iraqi Dinars. Now What? "Deleting the Zeros": What Iraq Actually Said, […]
Steven H. Fagin Returns as US Chargé d'Affaires in Baghdad
By John Lee. Steven H. Fagin has returned to Baghdad as Chargé d'Affaires of the United States Mission to Iraq. According to the US Embassy in Baghdad, Fagin previously served as US Ambassador to Yemen, and before that as Chargé d'Affaires and Deputy Chief of Mission in Baghdad, and as Consul General in Erbil. (Source: […]
Mercedes-Benz Signs MoU with Erbil Chamber of Commerce
By John Lee. Mercedes-Benz Iraq has signed a memorandum of understanding (MoU) with the Erbil Chamber of Commerce and Industry to strengthen business ties and create new local opportunities. The signing was attended by Erbil's Governor, Omed Khoshnaw, along with government officials and traders. The MoU was signed by Mercedes-Benz Iraq's CEO, Bernhard Dolinek, and […]