Iraq Attracts $100bn in Investments; $5bn Deal with Elsewedy Electric
By John Lee. Iraq's government has successfully attracted $100 billion in investments over the past two years, according to Mohammed Al-Najjar, advisor to the Prime Minister for Investment and head of the Iraq Development Fund. He told the state-run Iraqi News Agency (INA) that a $5 billion agreement was signed recently with Egypt's Elsewedy Electric […]
Iraq Reduced Oil Exports in September
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for September, but has again not disclosed the value of oil exports for the month. This continues the practice of delayed or missing oil export data from the Ministry. Total exports of crude oil: 99,311,107 barrels. Exports from the oil fields in […]
4-Country Meeting on Development Road Project
By John Lee. Representatives from Iraq, Turkey, the UAE, and Qatar gathered in Basra to discuss the latest developments in the "Development Road" project. The meeting focused on finalizing the economic feasibility study and defining key routes for the project's execution. Led by Iraq, with participation from Turkey, Qatar, and the UAE, this meeting is […]
Iraq "buys Air Defenses amid Spectre of Regional Missile War"
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq buys air defenses amid specter of regional missile war Amid the prospect of a major escalation of regional missile warfare, Iraq has inked a major deal with South Korea on a state […]
Iraq-UAE Investment Dialogue Focuses on Technology
By John Lee. Dr. Haider Mohammed Makiyya, Chairman of Iraq's National Investment Commission (NIC), held discussions with UAE Ambassador Abdullah Matar Al Mazrouei in Baghdad, focusing on advanced technological frameworks for the "Electronic Development Route" project. This initiative includes plans for underground cables, offering a more efficient alternative to traditional undersea cables, and is being […]
AGSIW: China's Rise in Iraq's Energy Sector
By Yerevan Saeed and Sardar Aziz for the Arab Gulf States Institute in Washington (AGSIW). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. China's Rise in Iraq's Energy Sector: From Newcomer to Dominant Player While Iraqi leaders consistently emphasize the importance of Western investment […]
Iraq approves Change of Terms for Kirkuk Refinery Project
By John Lee. The Iraqi Council of Ministers has approved the conversion of the Kirkuk hydrogenation and gasoline improvement project, with a capacity of 12,000 barrels per day, from a Build-Own-Operate (BOO) model to a Build-Operate-Transfer (BOOT) model. The refining fee for one barrel of oil has been set at $23, as previously determined by […]
Iraqi Project gets $29m for Climate Resilience
By John Lee. In what it describes as a landmark decision, the Green Climate Fund (GCF) has approved funding for two transformative projects valued at $134 million, to support adaptation and enhance the climate resilience of vulnerable agricultural communities in Somalia and Iraq. These initiatives, spearheaded by the Food and Agriculture Organization of the United […]
Iraq to Complete First Phase of Grand Faw Port in 2025
By John Lee. Iraq's Ministry of Transport has announced that the first phase of the Grand Faw Port will be completed by next year. The project is part of the broader Development Road initiative, with progress continuing steadily. The designs for the railway line and soil surveys for the Development Road have reached 100% completion, […]
IFC reviews Baghdad Airport Development Project
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani has presided over a meeting with a delegation from the International Finance Corporation (IFC), a member of the World Bank Group, to follow up on the Baghdad International Airport (BIAP) development project. The meeting discussed the steps taken by the IFC to attract investors and specialized […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 24th 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 1,957.7 -0.2% 26.0% RSISX USD Index […]
$180m Investment for Service Projects in Wasit Province
By John Lee. Prime Minister Mohammed Shia Al-Sudani has announced the approval of eight new service projects in Wasit Province, with a total cost of 236 billion dinars [$180 million]. The projects focus on improving water and sewerage infrastructure, including: Al-Bashaer sewerage project (6.86 billion dinars) Al-Dhahab/Zurbatiya sewerage project (0.715 billion dinars) Badra sewerage project […]