Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
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. Iraq Market Report: Currency Upheavals Disrupt Market Activity The market, as measured by the Rabee Securities RSISX USD Index, was down 1.0% for the month and down […]
By John Lee. The Iraqi stock market, as measured by Rabee Securities ISX Index, has out-performed the main international markets over the past year, closing at IQD910.3 / $774.8 (-0.8%/-3.8% YTD change). (Please note: USD RSISX Index was updated for year-end closing with FX rate of 1525 (Dec. 29)). This fall of 3.8 percent in […]
89 investment projects worth over $2 billion have been implemented this year The implementation of investment projects in various sectors was one of the priorities of the Ninth Cabinet of the Kurdistan Regional Government (KRG). In 2022, the implementation of 89 investment projects began, with a capital of 2 billion and 135 million and 418 […]
By John Lee. Iraq and Japan have signed a memorandum granting a Japanese loan for the Basra Refinery Development Project (Phase IV). The agreement was signed on Wednesday by Iraq's Minister of Finance, Taif Sami Mohammed, the Chargé d'Affaires of the Japanese Embassy in Baghdad, Masamoto Kenichi, and the Executive Director of JICA Iraq Office, […]
UAE invests in Kurdistan Region's agriculture and livestock sectors The Kurdistan Regional Government's (KRG) Investment Board met with a delegation from the Emirati Al Abrar Company to discuss enhancing cooperation in the Kurdistan Region's agriculture and livestock sectors. "In the past, we have we conducted more than 10 research projects in the Kurdistan Region for […]
By John Lee. Iraq's Mass Group Holding has completed its purchase of a power plant in Romania on Tuesday (27th December). According to a statement from the administrator, Expert Insolventa SRL, the company has bought the Mintia thermal power plant (pictured) from Complexului Energetic Hunedoara SA for 91.2 million euro ($91 million) in a public […]
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)
Joint communiqué/Baghdad Conference for Cooperation and Partnership 2022 In light of the decision taken at the conference held in Baghdad on 28 August 2021, and at the invitation of His Majesty King Abdullah II, in coordination with His Excellency President Emmanuel Macron of the French Republic and His Excellency Prime Minister Mohammed Shia al-Sudani of […]
IRAQ IS ABOUT TO OPEN ITS FIRST 5-7 STARS HOTEL IN 40+ YEARS It can be said that one of the most important reasons for the reluctance of the process of economic and social development in Iraq over the past decades is the weakness or absence of investment in both the public and private sectors. […]
By John Lee. Fitch Ratings has assigned the Gulf Commercial Bank (GCB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's, "weak franchise and unstable business model, operations in the highly volatile operating environment of Iraq, a high impaired loans ratio (which is […]
By John Lee. Ishtar Gate Company for E-Payment Systems and Services, an Iraq-based fintech company, has reportedly released an app that allows users to trade US-listed stocks via a mobile app called Bluepay. According to Newsfile, the company was recently approved by the Central Bank in Iraq (CBI) as the "first and only company to […]
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi PM calls for closer ties with China During the Arab-China Summit in Riyadh, Muhammad Shia al-Sudani expressed Iraq's willingness to join the Belt and Road Initiative and expand ties and […]
