IOCs push for "US Congressional Action" to Open Iraq Pipeline
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has urgently requested U.S. Congressional action to facilitate the reopening of the Iraq-Türkiye pipeline (ITP). In a statement, APIKUR says, "this vital conduit for the KRI's economic well-being has been closed due to political disagreements, which is directly affecting U.S. interests, and the […]
Five One Labs issued Annual Report
By John Lee. Iraq-focussed startup incubator Five One Labs has issued its annual report for 2023. The report includes a look back over the past six years from the perspectives of founders Alice Bosley and Patricia Letayf, along with an overview of the organisation's new initiatives in Iraq. Click here to download the report. (Source: […]
Iraq falls to Another New Low in Democracy Index
By John Lee. Iraq has fallen to another new low in the Economist Intelligence Unit's annual Democracy Index. Falling four places to 128th out of 167 countries, Iraq is classified as "authoritarian", and scores lower than countries such as Jordan, United Arab Emirates (UAE) and Zimbabwe. The score is Iraq's lowest since the Index was […]
Egyptian Business Delegation visits Iraq
By John Lee. Iraqi Prime Minister Mohammed Shiaa Al-Sudani has received a delegation of Egyptian businessmen and investors specializing in infrastructure projects, the housing sector, and the pharmaceutical industry. Mr. Al-Sudani welcomed the delegation, affirming Iraq's keenness to sustain bilateral cooperation with Egypt and its private sector, and to expand its horizons in various fields. […]
Shell Quits Nebras Petrochemical Project
By John Lee. British oil and gas company Shell has withdrawn from the proposed $11-billion Nebras [Nibras] petrochemical project in Basra. According to Argus Media, the company said it made the decision, "after in-depth evaluation on the feasibility of the Nebras integrated petrochemicals complex with our government partners." The company added: "This decision is in […]
UN "Alarmed" by Draft Iraqi Law on Same-Sex Relations
By John Lee. The Office of the High Commissioner for Human Rights (OHCHR) has expressed its concern at proposed amendments to legislation in Iraq which it says, if approved, would impose the death penalty or life imprisonment for engaging in consensual same-sex relations, as well as for certain forms of adultery. It has called on […]
Iraq's Start-Ups get Real about Investment
From Five One Invest. Re-published with permission by Iraq Business News. Over the past few years, Five One Invest has worked closely with Iraqi founders and investors. The major complaint from growth-stage startups is that investors in Iraq are risk-averse and do not know "venture investing." On the other hand, investors emphasize that there is […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th February 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 1,643.3 -1.5% 5.7% RSISX USD Index 1,615.8 […]
IBBC inaugurates Agritech Cmte: Confirms Project Focus
From the Iraq Britain Business Council (IBBC): IBBC's inaugural Agritech Committee confirms commitment and project focus for pilot. IBBC held its first inaugural committee meeting at the Royal Overseas League on 13th February, chaired by Dr Amet Selman of AAA Holding. The broadly based committee included appointees from all areas of business and government: members […]
Investment Opportunity: Waste-to-Energy Power Plant
By John Lee. Iraq's National Investment Commission (NIC), in collaboration with the Municipality of Baghdad, Ministry of Electricity, and Ministry of Environment, has announced an investment opportunity to establish a Waste-to-Energy (WtE) power generation plant in Baghdad Governorate/Al-Nahrawan area. Project Details: The project aims to generate power from mixed solid waste, estimated at around 3,000 […]
Malaysian Firm Wins Major Consultancy Contracts in Iraq
By John Lee. The Media Office of the Iraqi Prime Minister has confirmed that the Malaysian company HSS Engineers will be the approved consultant to the two newly-announced major projects, the Baghdad Metro and the Najaf-Karbala Express Train. Tenders for the construction of these projects were announced in recent days. More here and here. Full […]
Iraq announces Tender for Baghdad Metro
By John Lee. Iraq's National Investment Commission (NIC) has announced a tender for the construction of a metro transport system in Baghdad. The project is being offered on a design, build, operate, maintain, finance, and transfer ownership (DBOMFT) model, and the deadline for receiving Investment bids is Thursday, 11th April, 2024. According to the tender […]