Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th May 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,842 (-0.7%)/ $1,957 (-0.7%) (weekly change). The number of week traded shares was 21.1bn and the weekly trading […]
By John Lee. Mobile operator Zain has hired Melak Investments and Rabee Securities as the leading adviser and broker to lead the initial public offering (IPO) of its shares. According to a report from The National, Melak Investments is run by the Iraq-born former Franklin Templeton asset manager Shwan Taha, who also founded Rabee Securities. Last […]
By John Lee. Mobile operator Asiacell has posted a 12.2 percent drop in annual net profit. Reuters reports that the company, part of Qatar-based Ooredoo, made a net profit of 581 billion dinars ($498.62 million) in 2013, down from 662 billion dinars a year earlier. Profit was impacted "non-recurring items - mainly related to tax […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th May 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,855 (+0.7%)/ $1,970 (+0.3%) (weekly change). The number of week traded shares was 3.3bn and the weekly trading […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th April 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,823 (+0.1%)/ $1,943 (+0.1%) (weekly change). The number of week traded shares was 14.4bn and the weekly trading […]
By John Lee. Gulf Keystone Petroleum (GKP) announced today that it has priced a debt offering of US$250 million. The privately placed debt securities, offered in accordance with Reg S/144A to institutional investors in Europe, the US and Asia, consists of three-year senior unsecured notes carrying a coupon of 13% per annum and freely tradeable […]
By Mark DeWeaver. This hasn’t been a particularly good year for Iraqi stocks. So far the Rabee Securities Index (RSISX) is down 3% year-to-date and off 8% from its recent high on January 28. The ISX index has been dropping all year. It’s now down 5% year-to-date. Uncertainty in the run up to Iraq’s April […]
By John Lee. The Telegraph reports that an encouraging update on its fund-raising plans provided some much needed cheer for Gulf Keystone Petroleum (GKP) on the stock market. The Kurdistan-focused oil producer had slumped in recent weeks, amid speculation that the company’s key bond sale was running into trouble. The company announced last month that […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd April 2014). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,822 (+0.5%)/ $1,942 (+0.8%) (weekly change). The number of week traded shares was 21.2bn and the weekly trading […]
By John Lee. The Deputy Transport Minister, Bangen Rekani, has told Bloomberg that Iraq will seek $2 billion in financing to cover part of the cost of the 40 jets it has on order from Boeing. Iraq ordered 30 737-800s in 2008, followed by 10 787-8 long-haul Dreamliners in 2009, and a single 777 in 2012 -- […]
By John Lee. The Erbil Stock Exchange (ESX) is reportedly due to start operations in the fourth quarter of this year. Ahmed Abdul Rahim Abdullah, Director General of the stock market in Kurdistan, confirmed the schedule to Shafaq News. It is understood that some of the work is being carried out by Nasdaq. (Source: Shafaaq)
By Mark DeWeaver. Since the Central Bank of Iraq (CBI) began changing the rules for its USD auctions in 2012, Iraq has been operating a de facto dual exchange rate system. (There’s a summary of some of the CBI’s recent rule changes on pages 12-14 of this report from Sansar Capital.) For those with access […]
