As of June 17, year-to-date average daily turnover on the Iraq Stock Exchange (ISX) has remained subdued at just ID 2.2 billion (US$ 1.9 million). Surprisingly, however, large block trades on just 16 days (8 days in May, 4 in March, and 4 in January) accounted for 48% of YTD total trading. An easy way […]
Archive | Investment
Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
Diversifying Iraq’s economy a mission impossible
By DeWeaver on 15th June 2010 in Iraq Banking & Finance News, Mark DeWeaver on Investments and Finance
Iraqi GDP growth remains at the mercy of the oil markets, with the economy growing 10.3% in 2008, slowing to 4.3% last year in the wake of the crash, and now expected to rebound to 7% this year as prices have recovered (according to the central bank’s latest forecast). This state of affairs has led […]
9 New Investment Projects in Najaf
The Najaf Investment Commission has approved nine new investment projects at a total cost of $38 million (more than 45 billion dinars), raising the number of investment projects in the province to 65, head of the commission said on Wednesday. “The NIC gave nine new investment licenses in the health, entertainment, commercial and educational fields […]
Tags: Investment
$100bn in Investment Permits in Baghdad
Eighty investment permits have been granted to execute projects in Baghdad at a total cost of more than $100 billion. “The permits were granted in coordination between the Baghdad Mayoralty, Baghdad Investment Commission, and the National Investment Commission,” the Baghdad mayoralty said in a press release on Monday, as received by Aswat al-Iraq news agency. […]
Tags: Investment
Four New Refinery Projects Worth $3bn
Iraq's government said it plans to embark on a roadshow June 27 to attract investments for projects including four domestic refineries worth more than $3 billion, pan-Arab Al Hayat daily reports Thursday.
Tags: Investment, Refinery
Iraq sees fall in deficit, Investment Increase
Iraq will decrease its deficit to 8 percent over the next three years from 18 percent, the finance minister said on Wednesday, and envisioned a substantial increase in investment as a percentage of the budget.
Tags: Bayan Jabor, Investment
Scania to Increase Truck Dealerships in Iraq As Demand Grows
Iraq’s government has ordered 500 Scania trucks, which are being assembled locally by the Iraqi state automotive company. Scania has also delivered about 30 trucks to private buyers since reentering the country at the end of last year.
No easy fix for corrupt state banks
By DeWeaver on 9th June 2010 in Iraq Banking & Finance News, Mark DeWeaver on Investments and Finance
Last month, on the occasion of Rafidain Bank’s 69th anniversary celebration, the chairman reported that the bank was looking forward to implementing its new IT system “as soon as possible.” The system, which includes the Mysis products “Bankmaster” and “Branchpower,” is supposed to increase efficiency and reduce operational risk by bringing together information throughout the […]
Did Rafidain rumors ruin record rights issue?
On March 10, the Central Bank of Iraq (CBI) announced that the privately-owned Iraqi banks will be required to increase capital to ID 250 bn (USD 213 mn) over the next three years. Each bank will have to reach an initial capital target of ID 100 bn by the end of the first year and […]
An Apocalypse with a Silver Lining
By Mark DeWeaver Iraq faces a big downside risk from the European sovereign debt crisis—perhaps an even bigger risk than that of renewed sectarian violence. While Iraq’s limited financial links to the outside world make it immune to contagion through the banking sector, sustained debt deflation in Europe would result in a big drop in […]
Read our new Expert blogger on economics and finance starting this week
By adrianshaw on 26th May 2010 in Iraq Banking & Finance News, Mark DeWeaver on Investments and Finance
The sovereign debt crisis in Europe could be bad news for the Iraqi economy if it leads to a sustained bear market in oil. But a more likely outcome is that the crisis will cause central banks to continue their ultra-loose monetary policy, thereby benefiting Iraq by keeping oil prices high. Our new expert Blogger, […]
Hundreds of Turkish Firms Invest in Iraqi Kurdistan
Hundreds of Turkish firms have flocked to the semi-independent Kurdish enclave in northern Iraq, benefiting from a newly issued law easing curbs on foreign investments. Latest figures by the Kurdistan Investment Commission show that more than half of the foreign firms in the enclave are Turkish. In a statement, the commission said there were 620 […]
Tags: Investment