Emergency Message for U.S. Citizens
The U.S. Department of State warns U.S. citizens against all but essential travel to Iraq.Due to heightened safety and security risks and the ongoing threat of terrorist activities throughout Iraq, the U.S. government remains highly concerned about the danger to U.S. citizens, whether visiting or residing in Iraq, and to U.S. facilities and businesses. Threats […]
A Vote of Confidence for BDSI
By Mark DeWeaver. So far this has been a bad year for shareholders of Dar Es Salaam Bank (BDSI). Adjusting for July’s 23.2% rights and 18.5% bonus issues, the shares are down 36% year-to-date (as of September 10). This compares to a ytd return of -5% for the ISX index and +6% for Rabee Securities […]
GKP Surges on Court Ruling
By John Lee. Shares in Gulf Keystone Petroleum surged more than 25 percent when trading re-commenced at lunchtime on Tuesday, following a court finding in the company's favour. A summary of the English Commercial Court in London's decision was given in court this morning following the trial of the claims asserted by Excalibur Ventures LLC […]
Gulf Precast Builds 65 Schools in Iraq
UAE-based Gulf Precast has signed a contract to build 65 precast schools in various locations in Central Iraq. The design of the schools and their boundary walls has already been finalised. While the initial part of the production is under way in the UAE, Gulf Precast is already in the process of setting up a […]
Oryx Updates on Kurdistan Operations
Oryx Petroleum has announced an update on its activities in the Kurdistan Region of Iraq. Chief Executive Officer, Michael Ebsary (pictured), stated: "We continue to make great progress on all fronts in our Hawler license area. Progress continues towards first production from the Demir Dagh discovery with an early production facility now contracted and we […]
Asiacell Appoints New CEO
Asiacell has announced the selection of Mr. Amer Al Sunna as the new Chief Executive Officer. The company, which is listed on the Iraq Stock Exchange (ISX) and recently completed the largest IPO in Middle East since 2008 successfully, has more than 10.5 million subscribers in entire Iraq and its network covers almost %97 of […]
Ayatollah Sistani and The Battle of Najaf
By Hayder al-Khoei for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A memoir published in 2012 by a representative of Ayatollah Ali al-Sistani sheds new light on the Battle of Najaf that unfolded in August 2004 in southern Iraq. Hamid al-Khafaf, Sistani’s Beirut […]
US to Build New Erbil Consulate
Minister Falah Mustafa, Head of the KRG's Department of Foreign Relations, has signed an agreement with the US Consul General in Erbil, Mr Joseph Pennington, paving the way for the construction of the US Consulate General. Minister Mustafa signed on behalf of the KRG and expressed his belief that this agreement would strengthen the already […]
Iraq’s Identity Crisis in Symbols
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq's ongoing conflicts are often linked to religious identities. Given the religious nature of these conflicts, the importance of icons, symbols and photographs are certain to emerge more prominently than at other […]
GKP to Suspend Shares Pending Verdict
Gulf Keystone Petroleum (GKP) has announced that the English Commercial Court in London has set the date and time for its decision in relation to the claims asserted by Excalibur Ventures LLC against the company, its two subsidiaries, and Texas Keystone as 10.30 a.m. on 10 September 2013. The Judge has indicated that he will […]
Petroceltic Results and Operational Update
Petroceltic International, the independent oil and gas exploration development and production company focused on the Middle East North Africa, the Mediterranean and the Black Sea regions, today announces its results for the six month period ended 30 June 2013. Highlights: High impact drilling campaigns in Kurdistan and Romania recently commenced $500 million debt refinancing Agreement […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th September 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,743 (+0.2%) / $1,873 (-0.1%) (weekly change). The number of week traded shares was 5.6bn and the weekly […]