Iraqi PM Suspends "Unlawful" increase in Real Estate Transfer Tax
By John Lee. Iraq's Prime Minister, Mohammed Shia Al-Sudani, has ordered the suspension of a recent tax hike on real estate transfers. According to a statement from the Prime Minister's office, the increase was issued by the Director General of the General Tax Authority without approval from the High Committee for Tax Reform, and it […]
Baghdad-Ramadi Railway Reopens after 20-Year Hiatus
By John Lee. Iraq's Minister of Transport, Mr. Razzaq Muhaibis Al-Saadawi, officially reopened the Baghdad-Ramadi railway in Anbar province last week, marking a significant milestone after the line had been inactive for 20 years due to terrorism. A lengthy press release from the Ministry gave few details of the project; it included pictures of the […]
Iraq Establishes Genetic Banks to Boost Date Palm Production
By John Lee. Iraq's Ministry of Agriculture has launched a series of initiatives aimed at increasing the number of high-quality date palms and enhancing date production. Dr. Hadi Hashem al-Yasiri, Director General of the Horticulture Department, announced the establishment of genetic banks to propagate large numbers of superior saplings. The initiative includes tissue culture projects […]
DNO issues update on Oil Production and Sales
By John Lee. DNO ASA, the Norwegian oil and gas operator, has issued an update on production, sales volumes and other key information for Q3 2024: Q3 2024 Trading Update and Invitation to Earnings Call Oslo, 14 October 2024 - DNO ASA, the Norwegian oil and gas operator, will publish its Q3 2024 operating and interim […]
Iraq Accelerates Fiber-Optic Roll-Out
By John Lee. Iraq has increased the rate at which it is installing fiber-optic internet connections. The Ministry of Communications reports that more than 3.5 million FTTH (fiber-to-the-home) connections have been complete so far in 2024. This compares to 2.9 million last year, 1.5 million in 2022, and 276,000 in 2021. (Source: Ministry of Communications)
New Report on Small, and Medium-Enterprises (MSMEs) in Iraq
By John Lee. In 2021 the Ministry of Planning's Central Statistical Organization (CSO) in partnership with the United Nations Development Programme (UNDP) and with funding from the United States Agency for International Development (USAID) has conducted a study on Micro, Small, and Medium-Enterprises (MSMEs) in Iraq. The Survey covered the three governorates of Baghdad, Basra, […]
Iraq's Int'l Telecom Transit Capacity generates more Revenue
By John Lee. Iraq's Minister of Communications, Dr. Hayam Al-Yasiri, announced that Iraq's international telecom transit capacity has increased to "1400G" [presumably 1,400 gigabits per second (Gbps) of bandwidth capacity] by mid-2024. This represents a significant increase on the 10G in previous years. According to a Ministry statement, this generated a revenue of $1.8 million […]
Spanish Engineering Firm may implement Basra-Shalamcheh Rail
By John Lee. The Iraqi Cabinet has approved the minutes of the technical committee of the Iraqi Railways Company tasked with negotiating with the Spanish company Imathia for the construction of the Basra-Shalamcheh railway line. A statement from the Prime Minister's Office said, "the contract will be finalized, considering the Legal Department's remarks, and the […]
Iraq Reviews Huawei Solar Power Proposal
By John Lee. Iraq's Minister of Electricity, Eng. Ziyad Ali Fadel, chaired a technical meeting with Chinese company Huawei to discuss the proposal for a fast-installation solar power plant with a capacity of 100 MW in Karbala. The project is intended to be completed within six months and operational by summer 2025 to help meet […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 10th Oct 2024). 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 1,877.6 1.3% 20.8% RSISX USD Index […]
Iraq signs Contract with GCCIA for Import of Electricity
By John Lee. Iraq has signed a contract with the Gulf Cooperation Council Interconnection Authority (GCCIA) for the import of electricity. The project aims to enhance Iraq's energy stability and reduce reliance on costly conventional energy sources. The Gulf-Iraq electricity link is expected to supply Iraq with 3.94 TWh (terawatt-hours) annually by 2025 at competitive […]
Loxstone Energy to facilitate Iraq/Turkmenistan/Iran Gas Swap
By John Lee. Iraq's Council of Ministers has authorized the Ministry of Electricity to contract with the Swiss company Loxstone Energy for the supply of gas from Turkmenistan to Iraq via Iran under a swap agreement. Due to the importance and urgency of this contract in maintaining the operation of power plants, the deal is […]