US President announces New Ambassador to Iraq
By John Lee. US President Joe Biden has announced his intent to nominate Tracey Ann Jacobson (pictured) as Ambassador to Iraq. If approved by the Senate, Ms Jacobson will take over the role from Alina L. Romanowski, who has served in the post since June 2022. In a statement from The White House, Tracey Jacobson […]
IOM, Germany supporting SMEs in Iraq
By John Lee. The International Organization for Migration (IOM) and the Government of Germany, through the KfW Development Bank, have launched the sixth phase of their ongoing partnership, aiming to create 1,100 new jobs in small and medium-sized enterprises (SMEs) in Iraq, via its Enterprise Development Fund (EDF) component. The program provides financial capital to […]
PM Reviews Designs for Mosul's Riverside Development
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has this week reviewed the designs and plans for the riverside development in Mosul, presented by Nineveh Governorate. The presentation included the study, designs, and implementation details for the project. (Source: Media Office of the Prime Minister)
GM of Iraqi Cement Company Arrested on Bribery Charges
By John Lee. Iraq's Commission of Integrity has arrested the General Manager of the Iraqi Cement Company and the director of a private company on charges of bribery. The arrests followed a tip-off from an investor who claimed to be a victim of extortion, having been asked for a sum of $500,000 in exchange for […]
IFC Invests in Iraqi Cement Company
By John Lee. The International Finance Corporation (IFC), part of the World Bank Group, is investing in Al-Douh Iraqi Company for Cement Industries ("Al Douh"), a leading cement manufacturer and part of Al-Riyadh Investment Companies Group (RICG). According to a statement from the IFC, the decision was made to help boost economic diversification and spur […]
Call to Boycott Iranian Products following Missile Attack
By John Lee. Erbil Chamber of Commerce and Industry has reportedly issued a statement urging traders in the Kurdistan Region of Iraq to "suspend" the purchase of Iranian products in protest of the Islamic Revolutionary Guard Corps (IRGC) missile strikes on a private residence in Erbil. The attacks killed at least four civilians, including two […]
UN supports Iraq to End Corruption, Boost Foreign Investment
UNDP continues to support the Government of Iraq in ending corruption and boosting foreign investment The UN Development Programme (UNDP)'s Anti-Corruption and Arbitration initiatives (ACAI) is achieving significant milestones midway through its five-year implementation. Funded by the European Union (EU), the project recently conducted its second steering committee on Sunday, January 21, at the State […]
Gas Facility in Iraqi Kurdistan struck by Suspected Drone
By John Lee. Dana Gas has informed the market that a liquid storage tank at the Khor Mor facility in the Kurdistan Region of Iraq was struck by a suspected drone on the evening of Thursday, 25 January. It said there were no injuries to personnel, but that production was temporarily suspended to put out […]
Fly Baghdad Suspends Operations
By John Lee. Iraqi budget airline Fly Baghdad has suspended operations until further notice, following the imposition of sanctions by the United States earlier this week. It said the move was in compliance with a decision of the Iraqi government. The airline added that due to the freezing of its bank accounts, it is unable […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th January 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 1,654.1 5.8% 6.4% RSISX USD Index 1,626.4 […]
Governor of Najaf announces Oil Discovery
By John Lee. Dr. Majid Al-Waeli, the Governor of Al-Najaf, has announced the discovery of oil in the Oasis Al-Rahban area in the lowlands of Al-Najaf province. According to a statement from the Governor's office, the discovery was made by the Iraqi Oil Exploration Company and a group of foreign experts Al-Waeli ordered the formation […]
Iraqi PM approves Iraq's first Gas Platform
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has approved the recommendations of the committee responsible for establishing a fixed platform for imported gas at the large Al-Faw Port. This platform is the first of its kind in the national oil, gas, and related infrastructure sector. During a meeting chaired by the Prime Minister on […]