Rising Yields a Plus for Stocks
By Mark DeWeaver. Falling prices and higher dividends have led to a jump in ISX dividend yields this year. As of September 30, Rabee Securities’ RSISX index was yielding 4.5%, up from 1.5% in 2013 and 0.0% in 2012. Yields are also improving relative to local interest rates, which have been gradually declining. The RSISX […]
GKP Shares Surge on Shaikan Update
By John Lee. Sharess in Gulf Keystone Petroleum surged as much as 10 percent by lunchtime on Wednesday, after teh company issued an update on the its operations at Shaikan, its key producing asset: The Company remains focused on achieving the target of 40,000 barrels of oil per day ("bopd") of production capacity from the […]
Who Buys Islamic State’s Illegal Oil?
By John Lee. A report by Chris Dalby of Oilprice.com finds that the 11 oil fields that IS controls in Iraq and Syria have made it a largely independent financial machine. Its fields in Iraq alone are thought to produce between 25,000 and 40,000 barrels of oil per day, earning it an estimated $1.2 million [1.4 […]
Kurds Seize Iraq/Syria Border Post
By John Lee. Kurdish Peshmerga fighters have reportedly driven Islamic State (IS) fighters from the strategic border town of Rabia on Tuesday. According to a report from Reuters, the victory was achieved with help from Kurds from the Syrian side of the frontier, a new sign of cross-border cooperation. Members of the influential Sunni Shammar […]
Currency Auction Results, 1st Oct
By John Lee. The Central Bank of Iraq (CBI) has reported that 17 banks took part in its currency auction on Tuesday. A total of $223,193,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
HMS Group Wins $25m Orders in Iraq
By John Lee. In its interim management statement issued on Tuesday, Russian-based HMS Group said that since the start of this year it has signed several contracts for business in Iraq. The contracts, which it values at about 1 billion rubles ($25 million; 29 billion Iraqi dinars), were signed with Russian and international oil and […]
UK Conducts First Air Strikes
Royal Air Force Tornado GR4 aircraft have been in action over Iraq today in the fight against ISIL. This action is part of the international coalition’s operations to support the democratic Iraqi government. In the course of an armed reconnaissance mission from RAF Akrotiri, 2 Tornados were tasked to assist Kurdish troops in north west […]
KRG PM Barzani and Turkish PM discuss Security
Prime Minister Nechirvan Barzani yesterday met Turkey’s Prime Minister Ahmet Davutoglu in Istanbul on the sidelines of a World Economic Forum event. In the meeting both sides discussed the latest political and military developments in Iraq and the Kurdistan Region, the process of forming a new government in Iraq, the participation of the Kurdistan Region […]
Video: ISIL losing ground in Iraq
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. It's been a day of mixed fortunes for the Islamic State in Iraq and the Levant. The group has been losing territory in Iraq, but making gains inside Syria. In Iraq, government forces […]
Video: Security Beefed up at French School
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. French expats in Erbil, Iraq, say they try to lead a normal life, despite threats against French citizens by the Islamic State. At the French school here, the walls have been enhanced and armed […]
Currency Auction Results, 30th Sept
By John Lee. The Central Bank of Iraq (CBI) has reported that 20 banks took part in its currency auction on Tuesday. A total of $224,644,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Weekly Security Update, 23 - 29 September 2014
By Anne-Laure Barbosa at Constellis Consulting High levels of violence continued to plague Iraq’s security environment, with general dynamics in line with pre-established patterns. Whilst ISF counter-offensives were successful in re-taking some of the lost territories in Anbar and Diyala, the situation remained generally stagnant, with pro-government forces and insurgents each failing to make major gains. […]