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Basra-Aqaba Oil Pipeline "Postponed"

By John Lee. Iraqi Prime Minister Mohammed Shia al-Sudani has reportedly postponed the launch of the Basra-Aqaba Oil Pipeline (BAOP) project due to "threats from Iran-backed Shia militias" in Iraq. Assorted players in the area object to the idea that the oil may be used by Israel. According to The New Arab, other concerns include […]

Implications of Iraq's New Election Law

From Arab Gulf States Institute in Washington (AGSIW). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Implications of Iraq's New Election Law Iraq's new election law is likely to strengthen the representation of traditional political blocs and weaken smaller parties and independent candidates, however, […]

Saudi Arabia to Invest $3bn in Iraq

By John Lee. Saudi Arabia's sovereign wealth fund has reportedly capitalised its new Iraq fund with $3 billion. The Saudi-Iraqi Investment Company, which will have its headquarters in Saudi Arabia, is part of a $24-billion initiative announced last year. According to Alarabiya, the acting CEO will be Muteb Alshathri. More here. (Source: Alarabiya)

Iraq signs Contracts with Buyers of Kurdistan Oil

From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq signs contracts with buyers of Kurdistan Region's oil: Minister Iraq's oil minister on Thursday told Rudaw that they have signed contracts with four companies to buy about half a million barrels of the […]

US Court Dismisses Securities Claim against Ericsson

Full text of the statement from Ericsson: Yesterday [Wednesday], the U.S. District Court for the Eastern District of New York dismissed with prejudice the securities litigation against Ericsson (NASDAQ: ERIC) brought by certain shareholders. In its ruling, the court rejected in full the plaintiff's claims that Ericsson misled investors and concluded that Ericsson did not […]

Iraq's Oil Ministry "Clarifies" statement on Saudi Aramco

By John Lee. Iraq's Ministry of Oil has issued a "clarification" on its previous statement regarding involvement of Saudi Aramco in the Akkas field in Basra. On Thursday, the Ministry originally stated that it had an agreement with Saudi Aramco to invest in the field. Later in the day, it issued a clarification, saying that […]

Iraq Expedites Construction of Rail Link to Iran

By John Lee. Iraq's Council of Ministers has approved measures to expedite the construction of the new railway connection between Basra and the Iranian city of Shalamcheh. The approved actions include facilitating the transfer of land ownership to the Ministry of Transportation, ensuring necessary facilities are provided. Additionally, the General Company for Iraqi Railways, under […]

Czech Businesses "Eager to Invest in Iraq"

By John Lee. At a meeting on Thursday between Iraqi President Abdullatif Jamal Rashid and Minister of Foreign Affairs Jan Lipavsky of the Czech Republic, President Rashid expressed hope that Czech companies would contribute to important investment projects and collaborate with Iraqi companies. Minister Lipavsky emphasized the eagerness of Czech businesses to invest in Iraq. […]

Iraq Stock Market Report

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th May 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 1,012.2 -0.6% 11.2% RSISX USD Index 995.2 […]

PM launches Iraq's National Population Policy

The Iraqi Prime Minister, His Excellency Mohammed Shiaa Al-Sudani, officially launched Iraq's National Population Policy in Baghdad on 17 May. The occasion coincided with the annual conference of the Arab League's Council for Population and Development, which was hosted by the Government of Iraq in Baghdad, with support from the United Nations Population Fund (UNFPA). […]

Saudi Aramco to Invest in Iraqi Gas Field

By John Lee. [Correction: After publication, the Oil Ministry issued a "clarification", stating that Aramco is merely "studying cooperation mechanisms" with regard to Akkas.] Iraq's Minister of Oil has announced an agreement with Saudi Aramco to invest in the development of the Akkas gas field in Anbar province. During his participation in the Iraqi-Saudi Coordination […]