Iraq to join Digital Cooperation Organization (DCO)
By John Lee. Iraqi Prime Minister Mohammed S. Al-Sudani has held a meeting with the Secretary General of the Digital Cooperation Organization (DCO), Ms. Deemah AlYahya, on the sidelines of the 79th session of the United Nations General Assembly in New York. Founded in 2020, the DCO, "is dedicated to achieving social prosperity and the […]
APIKUR calls for Meetings to Restore Oil Exports
By John Lee. An industry group representing international oil companies (IOCs) in Iraqi Kurdistan has called for formal tripartite meetings with the Government of Iraq and Kurdistan Regional Government (KRG) officials to immediately restore exports through the Iraq-Türkiye Pipeline. A statement from the Association of the Petroleum Industry of Kurdistan (APIKUR) said: As world leaders […]
GKP Appoints New Non-Executive Directors
By John Lee. Gulf Keystone Petroleum (GKP) has announced the appointment of two new independent non-executive directors: Catherine Krajicek, who has previously held senior positions at ConocoPhillips, Marathon Oil and Cairn Energy; and, Marianne Daryabegui, formerly at Total, BNP Paribas and Natixis, amongst others. Full statement from GKP: Gulf Keystone, a leading independent operator and […]
Nokia partners with Zain Iraq to Boost Network Capacity
By John Lee. Nokia today announced a strategic partnership with Zain Iraq to upgrade the telecom operator's network in the south of Iraq. The three-year deal marks Nokia's first entry into the microwave (MW) business with Zain Iraq, enhancing network capacity and modernizing the infrastructure to support future growth and increased traffic demand. The deployment […]
Iraq Oil Fiscal Terms "Sub-Optimal"
By John Lee. Irish-based Petrel Resources last week issued an unaudited interim statement for the six months ended 30 June 2024. The company, which last year submitted an updated development proposal for the Merjan oil field to Itaq's Ministry of Oil, with a view to finalising a licence agreement, said: "... the fiscal terms available […]
Iraq Signs $2.8bn Air Defense Contract
By John Lee. The Iraqi Ministry of Defense has signed a contract with a South Korean company to supply advanced medium-range air defense batteries. It said the new defense system will bolster Iraq's military capabilities, ensuring better protection of its airspace and contributing to regional stability. While the lengthy statement from the Ministry gave no […]
Saudi Arabia Opens Commercial Office in Erbil
By John Lee. Saudi Arabia's Ambassador to Iraq, Abdulaziz Al-Shammari, is quoted as saying that a commercial representation office for Saudi Arabia is being established in Erbil, as part of broader efforts to strengthen trade ties between Saudi Arabia and Iraq. The office will function under the commercial consulate in Baghdad. In a statement to […]
Iraq Launches National Environmental Strategy
By John Lee. The United Nations Development Programme (UNDP) and the United States Agency for International Development (USAID), in collaboration with the Ministry of Environment, have announced the launch of the National Strategy for the Protection and Improvement of the Environment in Iraq (2024-2030). This strategy marks a critical milestone in Iraq's efforts to tackle […]
Iraq Launches New Projects to Improve Electricity Transmission
By John Lee. Prime Minister Mohammed Shia' Al-Sudani inaugurated several electricity projects in the provinces of Nineveh and Salahuddin aimed at reducing bottlenecks in the transmission and distribution sectors. The projects include: the Mosul Dam station with two transformers (2x 250 MVA); the Yarmja South station (KVA 132); transmission lines from Yarmja to Qayara station […]
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. […]