Iraq Business News brings you the latest news of investments in Iraq, highlighting the many opportunities that exist.
By John Lee. Iraq's Mass Group Holding has bought a power plant in Romania. 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 auction. Mass Global Energy Rom, a subsidiary […]
By John Lee. The Central Bank of Iraq (CBI) reportedly expects cash reserves to reach $90 billion by the end of this year, up from about $80 billion currently. CBI Deputy Governor, Ammar Khalaf, told the Iraqi News Agency (INA) that the increase is a result of higher oil prices. He added that gold reserves […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th August 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD888 (+1.3%) / $776 (+1.6%) (weekly change) (-3.2% and -3.6% YTD change, respectively). The number of week traded […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th August 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD877 (-0.02%) / $764 (-0.02%) (weekly change) (-4.5% and -5.1% YTD change, respectively). The number of week traded […]
By John Lee. As part of reform efforts by the Kurdistan Regional Government's ninth cabinet to improve the delivery of public services and foster economic development in the Kurdistan Region, Prime Minister Masrour Barzani (pictured) has announced the government will allocate 736.7 billion dinars [$505 million] for the years 2022 and 2023 in cash and […]
By John Lee. The Chairwoman of the National Investment Commission (NIC), Suha Daoud Najjar, has said that the NIC has specified "a number of legal and financial conditions" to proceed with the development of the Bismaya Residential City southeast of Baghdad. She said the NIC is now waiting for a reply from South Korean firm […]
The Kurdistan Regional Government's Ninth Cabinet has implemented several projects and authorized numerous others since assuming office on July 27, 2019. In the past three years, the Cabinet has authorized the implementation of 206 investment projects with a total budget of $11,629,355,000 in different areas of the Kurdistan Region. Crucially, of those 206 projects, 202 […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 11th August 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD877 (-1.4%) / $764 (-1.4%) (weekly change) (-4.5% and -5.1% YTD change, respectively). The number of week traded […]
By John Lee. Fitch Ratings has assigned the Sumer Commercial Bank (SCB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the rating reflects the bank's "weak operating environment, limited franchise, unstable business model and weak profitability". More here. (Source: Fitch Ratings)
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. "Sell in May and Go Away - in July !!!" The market, as measured by the Rabee Securities RSISX USD Index, was down 5.6% for the month, […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th August 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD889 (-3.0%) / $774 (-3.0%) (weekly change) (-3.2% and -3.8% YTD change, respectively). The number of week traded […]
By John Lee. Iraq's National Investment Commission (NIC) has just published its Investor Guide to Iraq 2022. The 51-page report gives an overview of the investment climate in Iraq. Click below to download the full report: English Arabic See also Iraq Investment Map 2022. (Source: NIC)
