Genel Energy outlines Payments to Govts for 2023
By John Lee. Genel Energy has just published details of its payments to governments for the year 2023: Introduction and basis for preparation This report sets out details of the payments made to governments by Genel Energy plc and its subsidiary undertakings ('Genel') for the year ended 31 December 2023 as required under the Disclosure […]
AD Ports to Develop Al Faw Grand Port and Economic Zone
By John Lee. AD Ports Group has announced that it has entered into a preliminary agreement with the General Company for Ports of Iraq (GCPI). Under the terms of the agreement, both parties will establish a joint venture to develop Al-Faw Grand Port and its economic zone, as well as any future expansion. The agreement […]
DNO Kurdistan Ops "Recover Rapidly" from Flooding
By John Lee. DNO has announced that production and field operations at its operated Tawke license (DNO 75 percent) in the Kurdistan region of Iraq have recovered from torrential flooding that also washed away large sections of the banks of the Khabur River, damaging roads and interfering with loading of tanker trucks for deliveries to […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th April 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 1,621.5 4.2% 4.3% RSISX USD Index 1,594.4 […]
Tabaqchali: Iraqi Banks End the Year with a Bang
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. Banks End the Year with a Bang The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was down 8.4% for the […]
Iraq Approves Loan Guarantees for major Gas Project
By John Lee. The Iraqi Cabinet has approved sovereign guarantees totalling $3.25 billion, in relation to the development of the Nahr Bin Umar [Nahr Ben Umar] gas field in Basra. It also exempted the special purpose company Halfaya Gas Company Ltd. (HGC), which was established to develop the field, from the requirement to submit two […]
Iraq to source Prosthetic Limbs from German Firm
By John Lee. The Iraqi Cabinet has granted the Ministry of Interior the authority to contract directly with the Verdalia company, the sole agent for the German company Ottobock in Iraq, which specializes in manufacturing and installing smart prosthetic limbs. Sources told Iraq Business News that Verdalia, which is based in Cyprus, operates in Iraq […]
Iraqi Children Foundation Reviews Achievements
From the Iraqi Children Foundation (ICF): The Iraqi Children Foundation (ICF) has released its 2023 Annual Report, highlighting exciting growth in the range of services and geographic reach of projects benefiting Iraq's most vulnerable and marginalized orphans, street kids, child laborers, disabled children, and child victims of sex and human organ trafficking. Chairman David Collins […]
IDC Drills and Rehabs 52 Oil Wells in Q1 2024
By John Lee. The Iraqi Drilling Company (IDC) has successfully drilled and rehabilited 52 oil wells during the first quarter of 2024. Mr. Khaled Hamza Abbas, the General Manager of the IDC, said that the company has managed to drill 19 oil wells and rehabilitate 33 others in Iraqi oil fields. (Source: Ministry of Oil)
Saudi Arabia invites Iraqi PM to Attend WEF
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has received an official invitation from Saudi Crown Prince Mohammed bin Salman bin Abdulaziz to participate in the special meeting of the World Economic Forum (WEF), to be hosted by the Kingdom at the end of April. In a letter to the Prime Minister, Prince Mohammed bin […]
WHO commends Iraq's World-First in Polio Transition
From the World Health Organization (WHO): As of January 2024, Iraq has achieved the polio transition process in full. It is the first country among the polio transition priority countries to achieve this remarkable feat. Polio transition involves repurposing polio assets - knowledge, network and infrastructure - to strengthen the broader public health functions of […]
Sir Michael Fallon to Retire from Genel Energy
By John Lee. Genel Energy has announced that Sir Michael Fallon has indicated his intention to retire from the Board of Genel at the AGM in May 2024. Sir Michael Fallon has served more than four years at Genel as Non-Executive Director, Deputy Chair, Senior Independent Director, Chair of the International Relations Committee, and a […]