Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
The high price of oil could prove the latest projection of a USD14.5bn budget deficit in 2012 as being too pessimistic. The Cabinet approved a $100bn budget for 2012 in the first week of December, although it is still waiting for Parliament to give its approval. The budget is based on oil at an average […]
The plan is that every Iraqi will get a home, but, unfortunately, the vast amounts of money needed might be hard to find. Iraq Directory reports that prime minister Nouri al-Maliki has promised a "home for every citizen" in five years, with those who have no homes getting them at cost price. However, with the […]
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 22nd December 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,504 / $1,668, +0.2%. The number of weekly traded shares was 6.4 bn and the weekly trading volume was ID14.1bn […]
Iraq's National Investment Commission (NIC) has announced an investment opportunity to establish new Foodstuff Testing Laboratories at the border crossing points. The labs will control all foodstuffs entering Iraq, and should be constructed according to special specifications that ensure the safe storage of all kinds of foodstuffs. They will be constructed according to investment law […]
Shares in Gulf Keystone Petroleum (JKP) jumped on Monday following yesterday's report that U.S. oil major ExxonMobil was considering a takeover bid at five times the company's closing share price on Friday. The shares were up as much as 34% in early trading on Monday, but had given up half those gains by mid-afternoon. Reuters […]
ExxonMobil is reportedly considering an $11 billion takeover of Kurdistan-focused explorer Gulf Keystone Petroleum. Reuters, citing the Independent on Sunday newspaper, said that Exxon is considering making an estimated 800 pence per share bid for the British company, which has made huge oil finds Iraqi Kurdistan. Neither company could be reached for comment by Reuters […]
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th December 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,500 / $1,664, +2.6%. The number of weekly traded shares was 11.5 bn and the weekly trading volume was ID30.4bn […]
Vinson & Elkins and Cleary Gottlieb Steen & Hamilton are advising Iraq’s oil ministry in a $17.2 billion deal with Royal Dutch Shell and Mitsubishi to develop the infrastructure required to process natural gas in the southern part of Iraq. The transaction agreements, which were signed on 27th November, came as Iraq attempts to rebuild its […]
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th December 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,462 / $1,622, +1.5%. The number of weekly traded shares was 7.4bn and the weekly trading volume was ID12.4bn ($10.6mn). […]
Bloomberg presents a news article on investment in Iraq: (Source: Bloomberg)
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st December 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,440 / $1,697, +9.0%. The number of weekly traded shares was 5.8bn and the weekly trading volume was ID10.0bn ($8.5mn). […]
Last month the Central Bank of Iraq co-hosted a conference with USAID’s Iraq Financial Development Project on “Integrating the Banking and Financial Services Sector in Iraq.” This event, which was held in Istanbul from November 18-19 covered two upcoming changes to the payments system that have the potential to revolutionize Iraq’s banking sector. The first […]
