MGH, GE Vernova advance Bismaya Power Plant Modernisation
By John Lee. Mass Group Holding (MGH) and GE Vernova have announced significant progress in the modernization of Iraq's largest power facility, the 4.5 GW Bismaya [Besmaya] Power Plant in Baghdad. Phase 1: Phase 1 involved Advanced Gas Path (AGP) upgrades on four GE Vernova 9F.04 gas turbines at the Besmaya Power Plant. The upgrades […]
Iraq Increases Reserves at IMF by 50%
By John Lee. A meeting of the Iraqi Cabinet this evening approved an increase in Iraq's quota at the International Monetary Fund (IMF) by 831.9 million Special Drawing Rights (SDR), equivalent to 1.45 trillion Iraqi dinars [$1.1 billion] based on the exchange rate as of October 8, 2024. This 50-percet increase in Iraq's previous quota […]
Iraq to issue New Govt Bonds
By John Lee. Iraq's Ministry of Finance has said it will issue a new series of its "Injaz/Enjaz" ["achievement"] bonds. According to s statement issued on social media, but not yet available on the Ministry of Central Bank of Iraq (CBI) websites, the bonds will be offered in two denominations: A bond of 500,000 Iraqi […]
Top Universities in Iraq named
By John Lee. The Times Higher Education World University Rankings has listed 79 Iraqi universites, ranking two of them in the range 1,001-1,200 worldwide, 3 in the range 1,201-1,500, and a further 16 in the category 1,501+. The remaining 58 universities were listed with 'recorder' status, meaning that they submitted data but did not meet […]
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 […]