Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
Alsaree3 Group, consisting of Alsaree3 (food-delivery) and Al Zajel Express (last-mile delivery services), closed a 7-figure bridge round in December 2022, bringing its total amount of funding raised to over $6.5 million USD. Founder and CEO of Alsaree3 Group, Bassam Al-Ateia, commented: "This funding will enable us to increase our market share and grow our […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 19th January 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Return RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 981.2 1.0% 7.8% RSISX USD Index 781.3 […]
By John Lee. Zain Group has announced that its operation in Iraq has entered into a definite 15-year agreement to sell and leaseback, as well as the management rights of the passive physical infrastructure of its 4,968 tower portfolio in Iraq to TASC Towers Iraq for US$180 million. The deal also comprises of TASC Towers […]
By John Lee. Kuwait's Burgan Bank has announced that the sale of its 51.8-percent share in Bank of Baghdad (BBOB) to Jordan Kuwait Bank (JKB) has been approved by the Central Bank of Iraq (CBI). The deal's completion is subject to the fulfilment of legal documentation and Iraqi Stock Exchange requirements. Burgan Bank is a […]
By John Lee. Prime Minister Muhammad Shia Al-Sudani has chaired a meeting to discuss the best use of lands surrounding Baghdad International Airport (BIAP). He ordered a ban on the granting or investment licenses and what was described as the "illegal disposal" of these lands, and stressed that any projects being implemented in this region […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th January 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Return RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 971.6 4.3% 6.7% RSISX USD Index 803.3 […]
By John Lee. Iraq's Minister of Oil has announced upcoming investment opportunities in the refining industry. Minister Hayan Abdul-Ghani said the plans include increasing refining capacities as follows: Al-Amarah refinery (150,000 barrels per day); Al-Muthanna refinery (100,000 barrels per day); Kirkuk refinery (100,000 barrels per day); Qayyarah refinery (70,000 barrels per day), and, a new […]
By Laure Al Khoury and Salam Faraj for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. In Iraq, graft helps push property prices out of reach Real estate in Iraq has become a popular way to launder money, including stolen public […]
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, […]
