Int'l Sports Retailer Expands into Iraq
By John Lee. International sports retailer GO Sport has announced its expansion into Iraq. Tom Foley, CEO of GO Sport, is quoted as saying: "We are thrilled to bring GO Sport's unique retail experience to Iraq ... This new expansion in Baghdad is just the beginning of our journey in Iraq, and we look forward […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 19th September 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 1,761.5 -1.2% 13.3% RSISX USD Index […]
Iraq Signs $290m Loan Agreement with Austrian Bank
By John Lee. Iraq's Minister of Finance, Taif Sami Mohammed, signed an agreement with the Austrian ambassador to Baghdad to secure a €262.16 million [$291 million] loan from Austria's Erste Group Bank. The loan will fund the development of pivot irrigation systems for the Ministry of Agriculture, with Austrian company Bauer leading the project's execution. […]
New Azerbaijan-Iraq Business Council
By John Lee. The Azerbaijan-Iraq Business Forum, held in Baku, focused on expanding cooperation in trade, tourism, and other sectors between the two countries. The event, organized by the Azerbaijan Export and İnvestment Promotion Agency (AZPROMO) and the Federation of Iraqi Chambers of Commerce, brought together over 100 business representatives from industries such as agriculture, […]
Iraq Warns Against Unlicensed Foreign Brokerage Firms
By John Lee. The Iraqi Securities Commission (ISC) has received reports that some electronic payment companies are collaborating with foreign brokerage firms to attract Iraqi investors and traders into trading foreign stocks outside Iraq's financial markets. It warns that these brokerage firms are unlicensed and unauthorized to conduct such activities. "We warn investors (individuals and […]
Pakistan Petroleum to pull out of Iraq's Block 8
By John Lee. Iraq's Council of Ministers has approved a settlement terminating Pakistan Petroleum Limited (PPL)'s contract for Exploration Block 8. The recommendation to terminate came from the Ministerial Council for Energy, and involved the state-controlled PPL and the Ministry of Oil's Middle Oil Company. The settlement agreement includes closing all mutual obligations by paying […]
Apple to help with Iraq's Digital Transformation
By John Lee. Iraq's Prime Minister, Mohammed Shia' Al-Sudani, met with a delegation from Apple Inc., alongside the head of the Communications and Media Commission (CMC), Ali Al-Muayyed. The discussion centered on Iraq's ongoing digital transformation, led by Al-Sudani through the High Committee for Digital Transformation. The Prime Minister highlighted Iraq's evolution into a successful […]
Iraqi PM Chairs Meeting of Development Fund
By John Lee. Iraq's Prime Minister, Mohammed Shia' Al-Sudani, presided over a regular meeting of the Iraq Development Fund's Board of Directors. During the meeting, Al-Sudani emphasized the importance of the fund operating in line with international financial expectations to attract both domestic and foreign investors. He highlighted ongoing housing and school construction projects, reinforcing […]
Iraq Opens Development Road Project to Global Partnerships
By John Lee. Iraq's Prime Minister, Mohammed Shia' Al-Sudani, announced the country's openness to partnerships for its flagship "Development Road" project, during a forum in Baghdad titled "Development Road - Opportunities and Growth." The forum was hosted by Enki Foundation for Studies and Research. The event brought together economists, investors, and business leaders to discuss […]
Iraq Signs 3 New Private Sector Partnerships
By John Lee. Iraq's Prime Minister, Mohammed Shia' Al-Sudani, emphasized the importance of private sector partnerships to reduce reliance on imports and meet domestic industrial needs. On Thursday, Al-Sudani oversaw the signing of three industrial contracts with private companies to boost production in the fertilizer and chemical sectors: A 1 million ton/year urea fertilizer plant […]
Head of Iraqi Airways Sacked
By John Lee. Following directives from Prime Minister Mohammed Shia' Al-Sudani, a committee was formed to investigate recent disruptions in Iraqi Airways flights. The committee has concluded its work and submitted recommendations to the Minister of Transport, including the removal of the airline's Director General. The Minister has approved these recommendations. Prime Minister Al-Sudani reiterated […]
Korek ordered to pay Agility $1.2bn
By John Lee. Kuwaiti logistics firm Agility has announced that Iraq's Korek Telecom has been ordered to pay it nearly $1.2 billion in damages. The judgement by International Chamber of Commerce (ICC)'s International Court of Arbitration relates to allegations of fraud and corruption orchestrated by Korek with a view to unlawfully causing the expropriation Agility's […]