IMF: Fiscal Expansion to Boost Growth in Iraq (FULL REPORT)
By John Lee. The International Monetary Fund (IMF) has issued a detailed report on the Iraqi economy. The following key points were highlighted: Improved Domestic Stability: Since the new government took office in October 2022, Iraq has experienced improved domestic stability. This facilitated the passage of its first three-year budget, which led to a large […]
China's Geo-Jade in New Integrated Oilfield Project in Iraq
By John Lee. Iraq's Ministry of Oil has signed a Heads of Agreement (HoA) with the Chinese company Geo-Jade and the Iraqi company Crescent Basra (Hilal al-Basra) to invest in the integrated development project at the Tuba field, in the Zubair district of Basra. According to a statement from the Ministry, the project would have […]
Int'l Companies to build new Civil Facilities in Al-Kadhimiya
By John Lee. The Iraqi Cabinet has approved the conversion of the Al-Kadhimiya military base, commonly known as the Fifth Division, into a new urban civic center. According to a statement from the Prime Minister's Office, the new development will include recreational, educational, cultural, and hospitality facilities, including hotels, hospitals, health centers, sports stadiums, civil […]
Iraq pushes Chinese Gas Project at Block 9
By John Lee. The Ministry's Deputy Minister for Gas Affairs has inspected the gas project in Block 9 (Al-Fayhaa, Faihaa) in Basra province. Mr. Ezzat Saber said he hoped to utilize 130 million cubic feet per day of gas from the field by year-end, along with equipping power stations to process 100 million cubic feet […]
Major Sewerage Project launched in Baghdad
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani announced the start of work on the sewerage project in Al-Wahda district, located south of the capital Baghdad. This project is one of four strategic initiatives initiated by Al-Sudani to address sewerage issues in several areas of Baghdad province, exceeding a cost of one trillion dinars ($764 […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 16th May 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 1,810.8 1.6% 16.5% RSISX USD Index […]
Iraqi PM meets with KBR
By John Lee. Iraqi Prime Minister Mohammed Shiaa Al-Sudani received a delegation from the American engineering firm KBR on Thursday. The meeting included an overview of the company's operations in Iraq, particularly in collaboration with Iraqi oil companies in oil production and in maximising the capture of associated gas. Discussions also revolved around potential participation […]
Allegations of Industrial Espionage in Iraq Electricity Project
By John Lee. A former employee of STX Marine Service has reportedly been indicted for allegedly leaking information about the company's Iraqi power plant management project to a subcontractor in Iraq. The incident appears to relate to the company's $500-million project to restore and operate diesel-fueled electric power plants in Iraq. More here. (Source: Korea […]
Iraq Looks To Finish Phase 1 of CSSP Megaproject by 2028
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Looks To Finish Phase 1 of CSSP Oil Megaproject by 2028 On the face of it, there is no good reason why Iraq cannot become one of the world's […]
Billion-Euro Boost to Italy-Iraq Trade
By John Lee. SACE the state-owned Italian insurance and financial group, which specialise in supporting Italian companies and the national economy, has entered an agreement with the Trade Bank of Iraq (TBI) to support the development of the private sector in Iraq by promoting Made in Italy exports to the country, with a total value […]
Tunisia and Iraq sign 18 MoU's
By John Lee. Tunisian Foreign Minister Nabil Ammar and his Iraqi counterpart, Deputy Prime Minister and Foreign Minister Fuad Hussein, led the 17th session of the Tunisian-Iraqi Joint Committee in Baghdad. Both ministers highlighted the potential for economic growth, particularly in sectors like pharmaceuticals, agriculture, tourism, and transportation. They underscored the private sector's role in […]
Chinese Company Wins Contract for Faw Refinery Project
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani presided over the signing ceremony for the Faw Refinery Investment Project, a significant initiative within the framework of Iraq's plan to expand refining capacities and attract foreign investment. The project, a collaboration between the Ministry of Oil's South Refineries Company (SRC) and the China National Chemical Engineering […]