Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 6th February 2025. Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 2,246.7 1.3% -0.1% RSISX USD Index […]
Trump Cancels US Exemption for Iraq to Import Energy from Iran
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Trump Cancels US Exemption for Iraq to Import Electricity and Gas from Iran US President Donald Trump on Wednesday revoked Iraq's exemption to import electricity and gas from Iran, reinforcing Washington's campaign of maximum […]
$800m Iraqi Refinery Expansion Project Signed
By John Lee. Prime Minister Mohammed S. Al-Sudani has overseen the signing of an $800-million contract for the expansion of Al-Diwaniya Refinery, adding a 70,000 barrel-per-day (bpd) atmospheric distillation unit to raise total capacity to 90,000 bpd. The project includes hydrocracking, gasoline upgrading, isomerization, and environmental compliance measures. The initiative aims to modernise Iraq's refining […]
Gulfood 2025 to celebrate 30th Landmark Edition
Centred on creating actionable solutions for the global food trade industry Mega event continues to act as a pivotal catalyst for empowering global cross-industry collaboration and trade partnerships. Dubai World Trade Centre (DWTC) celebrates the return of Gulfood for its momentous 30th edition running from 17 - 21 February 2025. Under the theme 'The Next […]
Basra Launches Major Sustainable City Project
By John Lee. Basra Governor Asaad Al-Eidani (pictured) has reportedly announced the launch of Madinat Al-Nakhil [Palm City], a major residential and developmental project in Iraq. Planned for over a decade, the eco-friendly city will span 54 nature reserves and 34 additional dunams, featuring 120,000 housing units, universities, and industrial zones aimed at reducing carbon […]
Iraq Launches Comprehensive Banking Reform Initiative
By John Lee. The Iraqi government, in collaboration with the Central Bank of Iraq (CBI), has launched a strategic initiative to modernise the country's banking sector. The reforms aim to enhance banking standards, strengthen financial resilience, and improve Iraq's integration with global financial systems. Key pillars of the initiative include: Governance and Ownership: Strengthening transparency […]
Trump's Foreign Assistance Review "Prioritizes Funding Over Policy"
By Ben Fishman, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Trump's Foreign Assistance Review Prioritizes Funding Over Policy The U.S. government has demonstrated a long-term interest in supporting the Iraqi security forces, investing $1.25 billion […]
Wood Hires 500th Iraqi Local in Basra
Wood reaches 500 Iraqi local nationals hiring milestone in Basra Wood has recruited its 500th Iraqi national employee, demonstrating its commitment to building a sustainable workforce to support Iraq's energy sector. Administration Assistant, Rehab Zubaid, was recruited as her experience aligned perfectly with the role requirements. Rehab said: "It is an honour to be the […]
Chinese Company Wins $534m Water Project in Karbala
By John Lee. The Iraqi Council of Ministers has approved the recommendation of the Social Services Council to award the Design, Construction, Operation, and Maintenance of the South Karbala Water Project to Shandong Shiji [Shandong Xieji Construction Engineering], a Chinese company. The project, with a capacity of 16,000 m³ per hour, is valued at 699.75 […]
Iraq Expands East Baghdad Oil Field Contract Area
By John Lee. The Iraqi Council of Ministers has approved a modification to the contract area of the East Baghdad Oil Field - Southern Region, adding 95 km² west of the Diyala River. According to the Media Office of the Prime Minister, this expansion aims to exploit an estimated 710 million barrels of crude oil […]
Iraq Approves Waste-to-Energy Project in Baghdad
By John Lee. The Iraqi Council of Ministers has approved the Waste-to-Energy Power Generation Project in Nahrawan, Baghdad, awarding it to the Chinese company Shanghai SUS Environment. The project will have a two-year construction period and a 25-year investment term. The National Investment Commission (NIC) will issue the investment licence and finalise the contract. The […]
Iraqi Oil Minister Discusses Training with Kent and Shaco
By John Lee. Iraq's Minister of Oil, Hayan Abdul Ghani, met on Monday with a delegation from UAE-based energy services company Kent, and Iraq's Al-Shalal Al-Azraq Company (SHACo). The delegation included Shalal Al-Saraifi [Dr. Shalal M. Falih], Chairman of Shaco; Matthew Bishop, Senior Vice President of Kent; and Alexon Strandberg, Managing Director of Kent Iraq. […]