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: 14th December 2023). 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 1,563.1 6.1% 71.7% RSISX USD Index 1,537.0 […]
The International Finance Corporation (IFC), part of the World Bank Group, is supporting Sama Al-Manar and Manar FZCO, subsidiaries of Türkiye-based Tiryaki Agro, in developing a new state-of-the-art agro-industrial complex in Iraq's Umm Qasr Port, including a soybean crushing plant and warehouses, which will help bolster food security, create jobs, and diversify the country's economy […]
From the Iraq Britain Business Council (IBBC): IBBC's two-day conference success 'Building a sustainable future for Iraq'. IBBC held an expanded two- day conference in Dubai to coincide with Cop 28 to focus on 'a sustainable future for Iraq', with one day dedicated to Education and Training and one for Business, Investment, and Energy. IBBC […]
By John Lee. Saudi Arabia has reportedly made $3 billion available for investment in Iraq. The country's ambassador to Iraq, Abdulaziz Al-Shammari (pictured), told the state-run Iraqi News Agencyt (INA) that, "$3 billion is now available at the Public Investment Fund ... coordination is underway between the fund of Iraq for development and the investment […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 7th December 2023). Please click here to view a table of listed companies and their associated ticker codes. Note: ISX will be closed on Dec. 10 (Sunday) due to a national holiday (Victory Day). The next trading session will be held on Dec. […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani inaugurated the Basra Industrial Partnerships Forum, a two-day event organized by the Ministry of Industry and Minerals in collaboration with the private sector. According to a statement from the PM's office, the forum showcased successful industrial projects in mineral investment, fertilizers, agricultural sprayers, iron, steel, and chlorine […]
By John Lee. Fitch Ratings has affirmed Gulf Commercial Bank (GCB)'s Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating, "reflects a weak operating environment, the bank's weak franchise and volatile business model, high risk appetite, including still high related-party lending, and weak asset quality and profitability." […]
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. Government Starts Implementing the Expansionary 2023 Budget The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was up 7.1%. for the […]
By John Lee. Fitch Ratings has affirmed Iraq's Sumer Commercial Bank PSC's (SCB) Long- and Short-Term Issuer Default Ratings (IDRs) at 'RD' (Restricted Default) and Viability Rating (VR) at 'f'. Fitch has also withdrawn the bank's ratings. It says that, before the rating withdrawal, SCB's IDRs reflected the Central Bank of Iraq's (CBI) intervention, which […]
By John Lee. UK Export Finance (UKEF), the UK's export credit agency, has announced that it has secured £226 million [$285 million] in financing for the Iraqi government to develop over 350 kilometers of drainage infrastructure as well as 15 kilometers of stormwater and wastewater lifting stations near Hillah city. Upon completion, the project is […]
By John Lee. Fitch Ratings has affirmed Iraq's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B-' with a Stable Outlook. More details here. (Source: Fitch Ratings)
By John Lee. Under the auspices of H.E. Mr. Mohammed Shiaa Al-Sudani, the Prime Minister, and in the presence of H.E. Mr. Bangin Rekani, the Minister of Reconstruction, Housing, and Public Municipalities, alongside the honourable Member of Parliament, Mr. Yousif Al-Kalabi, and under the supervision of H.E. Dr. Mohammed Jameel Al-Miyahi, the Governor of Wasit, […]
