Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
By Mark A DeWeaver. As of November 6, 18 of the 21 ISX listed banks have reported third quarter earnings. The numbers aren’t pretty. Rabee Securities’ latest corporate profits report shows bank-sector aggregate profits for the first nine months down 17% year-on-year. Taking out BUND, an obvious outlier with earnings growth of 115%, the decline […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th October 2014). Note: ISX announced that they will suspend the trading sessions for one week to transfer the data and complete the preparations to switch from Horizon to X-Stream trading system. The last trading session using the Horizon system was on October […]
By John Lee. ShaMaran has announced that it will launch a CAD 75 million equity rights offering to its shareholders that is supported by a comprehensive equity support arrangement from major shareholders, Lorito Holdings, Zebra Holdings and Investments, and Lundin Petroleum B.V. (the 'Standby Purchasers'). The proceeds of this financing will augment the funding required […]
By John Lee. Shares in Irish-based Petroceltic International have risen more than 20 percent on Monday following the announcement of that the company is in detailed discussions regarding a possible offer to be made by Dragon Oil. With the support of the Board and management team of Petroceltic, Dragon Oil has completed an extensive confirmatory […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 2nd October 2014). Note: ISX will be closed starting from October 2, 2014 to October 11, 2014 due to the national holiday of Eid Al- Adhha. The next session will be held on Sunday, October 12, 2014. Please click here to download a […]
By Mark DeWeaver. Falling prices and higher dividends have led to a jump in ISX dividend yields this year. As of September 30, Rabee Securities’ RSISX index was yielding 4.5%, up from 1.5% in 2013 and 0.0% in 2012. Yields are also improving relative to local interest rates, which have been gradually declining. The RSISX […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th September 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,5410 (-2.4%)/ $1,625 (-2.6%) (weekly change) (-19% and -18.2% YTD change, respectively). The number of week traded shares […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th September 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,547 (-0.1%)/ $1,669 (-0..1%) (weekly change) (-17.1% and -16.0% YTD change, respectively). The number of week traded shares […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 18 banks took part in its currency auction on Monday. A total of $186,236,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By Mark DeWeaver. It’s been lackluster year for the ISX-listed banks. Total pre-tax profit for the 12 non-Islamic lenders that have reported so far fell 12% in the first half on a 3% decline in operating revenue, an 8% increase in operating expense, and a 21% increase in administrative expense. Earnings dropped at 7 of […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th Septemner 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,539 (+1.5%)/ $1,660 (+1.3%) (weekly change) (-17.5% and -16.4% YTD change, respectively). The number of week traded shares […]
By Patrick M Schmidt. Despite more than a three year delay and the current security situation in Iraq, Zain has announced that they still intend to commit to their initial public offering. "Against the backdrop of security and safety issues, Zain Iraq is today mainly focused on maintaining its network and providing much needed mobile […]
