Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 4th July 2024). Note: ISX will be closed on July 7, 2024 (Sunday) due to the national holiday (First day of the Islamic New Year). The next trading session will be held on July 8, 2024 (Monday). Please click here to view […]
New Social Housing Project for Returnees in Mosul
The Embassy of Japan in Iraq, Ninewa Governorate, and UN-Habitat have laid the foundation stone for a new social housing project for returnees in Mosul. Following the high-level Round Table Meeting with key stakeholders, including Ambassador Futoshi Matsumoto and Governor Abdulqadir al-Dakhil, the foundation stone for the Japan Village Project was laid in Mosul. The […]
Tabaqchali: An Unfolding Structural Economic Transformation in Iraq
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. An Unfolding Structural Economic Transformation The equity market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was down 1.7% in June […]
Iraqi Cabinet Approves Funding for Airport Security
By John Lee. Iraq's Council of Ministers (Cabinet) has approved the General Company for Airports and Air Navigation to cover expenses for feeding workers and providing living, technical, and medical supplies for K9 teams. This also includes maintenance costs for sonar equipment and baggage inspection devices for one month. According to a statement from the […]
Contract Exemption for Fertilisers
By John Lee. Iraq's Ministerial Council for Economy has approved recommendation 24172 Q, which includes the approval of the Coordinating Committee's meeting minutes. This decision exempts fertiliser contracts from the contracting methods stipulated in the Government Contracts Execution Instructions (2 of 2014) and the Federal General Budget Facilitation Instructions for 2023-2025. The exemption pertains to […]
3D Seismic Survey Contract Signed for Qayara Oil Field
By John Lee. Angola's Sonangol has signed a contract with the Iraqi Oil Exploration Company to carry out a 3D seismic survey of its Qayara [Qayarrah] oil field in Nineveh Province. The Ministry's Undersecretary for Extraction Affairs, Bassem Mohammed Khudair, said: "This contract aligns with our strategic vision for the oil sector by involving national […]
Iraq Allocates $229m for Electricity Sector Improvements
By John Lee. Iraq's Council of Ministers (Cabinet) has approved an increase in financial allocations for the Ministry of Electricity, amounting to 300 billion dinars [$229 mllion] from the operational budget to cover the following projects: 125 Billion Dinars: For urgent plan projects to alleviate distribution sector bottlenecks, including critical projects, feeders, and substation rehabilitation, […]
Amnesty International: Domestic Violence in Iraqi Kurdistan
From Amnesty International. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Daunting and Dire: Impunity, Underfunded Institutions Undermine Protection of Women and Girls From Domestic Violence in the Kurdistan Region of Iraq The Kurdistan Region of Iraq's (KR-I) authorities are failing to ensure that […]
Malaysian Firm Wins Consultancy Contract for Baghdad Metro
By John Lee. Malaysia's HSS Engineering Berhad (HEB) has signed a contract with the Mayoralty of Baghdad for the provision of Project Management Consultancy and Supervision Services for the Baghdad Metro Project. The contract is due to start this month, with a estimated completion date of May 2029. Estimated fees are almost $316 million. Statement […]
Iraqi PM Announces Development Projects for Adhamiya
By John Lee. Prime Minister Mohammed Shia' Al-Sudani announced the launch of several projects aimed at developing the city of Adhamiya in Baghdad, during his visit on Saturday. These projects span various sectors, including traffic management, urban services, electricity, education, healthcare, and heritage conservation. Key initiatives include: Traffic Alleviation: Construction of a new bridge connecting […]
Iraq Signs Seismic Survey Contract for Naft Khana Oil Block
By John Lee. Iraq's Oil Ministry has signed a contract with China's Geo-Jade Petroleum for a 2D and 3D seismic survey of the Naft Khana oil block in Diyala Province. According to a statement from the Ministry, the signing ceremony took place at the Ministry's headquarters on Sunday. The Ministry's Extraction Affairs Deputy, Bassem Mohammed […]
Iraq Enhances Internet Connectivity with New Undersea Cable Agreement
By John Lee. The Iraqi Ministry of Communications, under the direct supervision of Minister Dr. Hayam Al-Yasiri, announced the signing of a contract for the deployment of the 2Africa Pearls undersea cable. The agreement, signed with Gulf Submarine Cables Company owned by Saudi Arabia's STC, aims to route internet capacities from around the world through […]