Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
By John Lee. CEO World magazine has ranked Iraq 93rd out of 199 countries in its index of World's Best Countries To Invest In Or Do Business For 2024. This puts it behind neighbours such as Iran and Kuwait, but ahead of Jordan and Syria. Singapore, United Kingdom and Taiwan take the top three places. […]
By John Lee. The Iraqi Cabinet approved the recommendations of the Sovereign Guarantees Committee regarding the Al-Khairat Power Station. The new facility is being built by Harlow International, which describes it as, "the largest thermal power plant project in Iraq ... which will provide more than 10% of Iraq's power demand when fully operational." According […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 9th April 2024). Note: ISX will be closed starting from Apr. 9, 2024 (Tuesday) to Apr. 11, 2024 (Thursday) due to the religious holiday of Eid Al-Fitr. The next trading session will be held on Apr. 14, 2024 (Sunday). Please click here […]
By John Lee. The Central Bank of Iraq (CBI) has said it will issue a new series of bonds on behalf of the Ministry of Finance. The "Injaz/Enjaz" ["achievement"] bonds will be offered in two denominations: A 500,000 Iraqi Dinar (IQD) bond with an annual interest rate of 6.5 percent for a period of two […]
By John Lee. The Development Fund for Iraq has signed Memoranda of Understanding with 12 Saudi companies. A statement from Saudi Arabia's Ministry of Investment did not specify the companies or the details of the MoU's, but said that they are intended to enhancing cooperation with Iraqi "in a number of qualitative investment projects." (Source: […]
By John Lee. Fitch Ratings has assigned Cihan Bank for Islamic Investment and Finance P.S.C (Cihan) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating, "reflects the weak operating environment, the bank's weak franchise, volatile business model, high risk appetite, including a high share of financial […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th April 2024). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,621.5 4.2% 4.3% RSISX USD Index 1,594.4 […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Banks End the Year with a Bang The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was down 8.4% for the […]
By John Lee. The Iraqi Cabinet has approved sovereign guarantees totalling $3.25 billion, in relation to the development of the Nahr Bin Umar [Nahr Ben Umar] gas field in Basra. It also exempted the special purpose company Halfaya Gas Company Ltd. (HGC), which was established to develop the field, from the requirement to submit two […]
By John Lee. An delegation from the Kurdistan Regional Government (KRG) conducted a diplomatic mission to France and Italy from 26th to 29th March 2024, with a focus on investment. The mission was led by Safeen Dizayee, Head of the Department of Foreign Relations, and Dr. Mohammed Shukri, Chairman of the Kurdistan Board of Investment. […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 29th March 2024). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,555.7 -8.2% 0.1% RSISX USD Index 1,529.7 […]
By John Lee. The Iraqi Securities Commission (ISC) has announced the signing of a mutual cooperation agreement with the UK's Chartered Institute for Securities and Investment (CISI), marking the first Iraqi-British agreement in the financial market sector. This pact entails the exchange of information related to financial training programs and signifies a significant advancement in […]
