By John Lee. Nokia today announced a strategic partnership with Zain Iraq to upgrade the telecom operator's network in the south of Iraq. The three-year deal marks Nokia's first entry into the microwave (MW) business with Zain Iraq, enhancing network capacity and modernizing the infrastructure to support future growth and increased traffic demand. The deployment […]
By John Lee. Irish-based Petrel Resources last week issued an unaudited interim statement for the six months ended 30 June 2024. The company, which last year submitted an updated development proposal for the Merjan oil field to Itaq's Ministry of Oil, with a view to finalising a licence agreement, said: "... the fiscal terms available […]
By John Lee. The Iraqi Ministry of Defense has signed a contract with a South Korean company to supply advanced medium-range air defense batteries. It said the new defense system will bolster Iraq's military capabilities, ensuring better protection of its airspace and contributing to regional stability. While the lengthy statement from the Ministry gave no […]
By John Lee. Saudi Arabia's Ambassador to Iraq, Abdulaziz Al-Shammari, is quoted as saying that a commercial representation office for Saudi Arabia is being established in Erbil, as part of broader efforts to strengthen trade ties between Saudi Arabia and Iraq. The office will function under the commercial consulate in Baghdad. In a statement to […]
By John Lee. The United Nations Development Programme (UNDP) and the United States Agency for International Development (USAID), in collaboration with the Ministry of Environment, have announced the launch of the National Strategy for the Protection and Improvement of the Environment in Iraq (2024-2030). This strategy marks a critical milestone in Iraq's efforts to tackle […]
By John Lee. Prime Minister Mohammed Shia' Al-Sudani inaugurated several electricity projects in the provinces of Nineveh and Salahuddin aimed at reducing bottlenecks in the transmission and distribution sectors. The projects include: the Mosul Dam station with two transformers (2x 250 MVA); the Yarmja South station (KVA 132); transmission lines from Yarmja to Qayara station […]
By John Lee. International sports retailer GO Sport has announced its expansion into Iraq. Tom Foley, CEO of GO Sport, is quoted as saying: "We are thrilled to bring GO Sport's unique retail experience to Iraq ... This new expansion in Baghdad is just the beginning of our journey in Iraq, and we look forward […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 19th September 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 1,761.5 -1.2% 13.3% RSISX USD Index […]
By John Lee. Iraq's Minister of Finance, Taif Sami Mohammed, signed an agreement with the Austrian ambassador to Baghdad to secure a €262.16 million [$291 million] loan from Austria's Erste Group Bank. The loan will fund the development of pivot irrigation systems for the Ministry of Agriculture, with Austrian company Bauer leading the project's execution. […]
By John Lee. The Azerbaijan-Iraq Business Forum, held in Baku, focused on expanding cooperation in trade, tourism, and other sectors between the two countries. The event, organized by the Azerbaijan Export and İnvestment Promotion Agency (AZPROMO) and the Federation of Iraqi Chambers of Commerce, brought together over 100 business representatives from industries such as agriculture, […]
By John Lee. The Iraqi Securities Commission (ISC) has received reports that some electronic payment companies are collaborating with foreign brokerage firms to attract Iraqi investors and traders into trading foreign stocks outside Iraq's financial markets. It warns that these brokerage firms are unlicensed and unauthorized to conduct such activities. "We warn investors (individuals and […]
By John Lee. Iraq's Council of Ministers has approved a settlement terminating Pakistan Petroleum Limited (PPL)'s contract for Exploration Block 8. The recommendation to terminate came from the Ministerial Council for Energy, and involved the state-controlled PPL and the Ministry of Oil's Middle Oil Company. The settlement agreement includes closing all mutual obligations by paying […]
