On July 19, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Iraq. An improved security situation and the recovery in oil prices have improved near-term vulnerabilities. Large fiscal and current account surpluses—around 8 and 6 percent of GDP, respectively—were recorded in 2018, allowing the government to […]
This past week, IBBC’s , Christophe Michels, Managing Director of the Iraq Britain Business Council (IBBC), and IBBC’s Deputy Chairman, Eng. Rasmi Al Jabri, visited Iraq with Brigadier James Ellery CBE, Chairman of Turnkey LLC. The main focus of the visit was construction and redevelopment in Ramadi, Anbar Province, which has undergone a remarkable period […]
By John Lee. On Tuesday 23 July, Khaled T. Kanaan, Chairman of the Jordan Iraqi Economic Association (JIEA), met with Ali Senafi, Chairman of the Iraqi Contractors Federation, and who also holds the position of Chairman of the Arab Contractors Federation. Discussions revolved around methods for facilitating Jordanian and Iraqi contractors in executing projects in […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq and Iran are neighbours: Around $25m worth of Iranian goods enter Iraq every day. But a US deadline that allows Iraq to trade with Iran is set to expire in three months, […]
By Peter Schwartzstein, for National Geographic. Iranian border guards have started scores of blazes along their shared frontier to clear their lines of sight along key cross-border smuggling routes. Turkish airstrikes on militant camps have reduced tracts of forest to cinder. Across the bone-dry mountains and flatlands, a potent combination of illegal logging and naturally […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. With the economy in Iran suffering from US sanctions, many Iranian Kurds are crossing the border to find work in Kurdish Iraq, a semiautonomous region in the northern part of the neighbouring country. […]
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]
By John Lee. Erbil-based SMB Group has won tender to provide 41 ambulances in Iraq, with three years maintenance, to the United Nations Office for Project Services (UNOPS). The contract is valued at $3,984,972. (Source: UNGM)
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 26th July 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD649 (+0.4%) / $698 (+0.4%) (weekly change) (-1.6% and -1.7% YTD change, respectively). The number of week traded […]
By John Lee. The Iraqi government has reportedly issued warrants for 26 former and current top officials, including 11 ex-ministers, who are suspected of corruption. According to the Organized Crime and Corruption Reporting Project (OCCRP), the warrants issued included 15 to director generals. Sources told Asharq Al-Awsat that none of the warrants are for current […]
By John Lee. Iraq’s Ministry of Oil has announced finalised oil exports for June of 105,603,325 barrels, giving an average for the month of 3.520 million barrels per day (bpd), down from the 3.572 million bpd exported in May. These exports from the oilfields in central and southern Iraq amounted to 101,705,000 barrels, while exports […]
By John Lee. The National Investment Commission (NIC) has announced a new investment opportunity in Iraq: Rehabilitation, Modernization and operation of Plastic factories, Municipalities and Public Works (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)
