Iraq Extends Deadlines for Metro Tenders
By John Lee. The National Investment Commission (NIC) has announced an extension of one month for tenders to build two major projects in Iraq. The closing dates for applications for both the Baghdad Metro and the Najaf-Karbala Metro have been extended from 12th March 2024 until 12th April 2024. (Source: NIC)
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 7th March 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 1,719.3 2.4% 10.6% RSISX USD Index 1,690.5 […]
NIC Grants Licence for $2.5bn Gas Project at Nahr Bin Umar
By John Lee. The National Investment Commission (NIC) has signed an investment licence with the Halfaya Gas Company (HGC) for an associated gas project at the Nahr Bin Umar field in Basra province. HGC is a special purpose vehicle owned by RASEP, which is part of the Baghdad-based Raban AI Safina Group of Companies. A […]
Iraq Receives 17 Proposals for Waste-to-Energy Project
By John Lee. The Iraqi National Investment Commission (NIC) has announced that it has received 17 proposals from foreign, Arab, and local companies for a waste management and electricity generation project (waste-to-energy) in Baghdad. This announcement followed a meeting of the commission tasked with assessing the proposals. Dr. Mona Al-Jabri, the commission's renewable energy consultant, […]
Iraqi Investment Chief meets with Qatari Real Estate Company
By John Lee. Dr. Haider Muhammad Makkiya, head of Iraq's National Investment Commission (NIC), has held a meeting with the regional director of Qatari real estate firm Ariane, Ahmed Magdy Al-Kararty. Dr. Makkiya emphasized Iraq's commitment to fostering an attractive investment environment, highlighting strategic projects as crucial for revenue maximization and the enhancement of service […]
Halabja Locals Protest Iraq's Border Fence with Iran
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Halabja locals protest Iraq's border fence with Iran The Iraqi government's decision to close the border with Iran by setting up a fence has sparked protests from locals who fear the decision will negatively […]
Tabaqchali: Markets Continue to Look Through Tensions
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. Markets Continue to Look Through Tensions The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was down 0.6% for the month, […]
Iraq Launches Customs Automation Project
By John Lee. Iraq's Minister of Finance, Taif Sami (pictured), inaugurated the Customs Automation Project as Umm Qasr Port on Sunday. The project aligns with the requirements of the global Automated System for Customs Data (ASYCUDA), forming part of the Ministry's strategy to apply international customs standards. The system's implementation aims to achieve financial discipline, […]
Int'l Finance Corp (IFC) ready to cooperate with Iraq
By John Lee. A delegation from the International Finance Corporation (IFC), led by Ms. Hala Sheikh Rouh, Vice President of the IFC for the Middle East, was received by Prime Minister Mr. Mohammed Shiaa Al-Sudani on Tuesday. The meeting involved discussing areas and prospects of cooperation between Iraq and the IFC, which is part of […]
UNHCR Projects in Iraq
By John Lee. UNHCR, the UN Refugee Agency, has said that in 2023 it built, rehabilitated or equipped five public healthcare centres in Iraq. It said it also built or rehabilitated fifteen public schools and completed 27 infrastructure projects. More here. (Source: UNHCR)
IMF: Iraq Economic Growth "to Continue amid Fiscal Expansion"
By John Lee. An International Monetary Fund (IMF) mission met with the Iraqi authorities in Amman during February 20-29 to conduct the 2024 Article IV consultation. Some key data from their report: Economic Growth: Non-oil GDP growth: 6% in 2023. Overall growth projected to rebound in 2024. Inflation: Declined from 7.5% in January 2023 to […]
IOCs Deny Claims of Agreement to Export Kurdish Crude
By John Lee. An industry group representing international oil companies (IOCs) in Iraqi Kurdistan has denied claims by government officials that an agreement has been reached to resume oil exports through the Iraq-Turkey Pipeline (ITP). The Association of the Petroleum Industry of Kurdistan (APIKUR) said it has not seen any proposals from Baghdad or Erbil […]