Purchase Tariffs Reduced at 2 Iraqi Solar Projects
By John Lee. Iraq's Cabinet has this week approved an agreement between the Iraqi Ministry of Electricity and Al-Bilal Group, a limited general contracting company, which includes a reduction in the power purchase tariff for two solar power station projects in Karbala (300 MW) and Alexandria (Iskandariya) (225 MW). The agreement reduces the price from […]
Iran, Iraq to Open Joint Free Trade Zone
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. An Iranian official unveiled plans to inaugurate a joint free trade zone with Iraq at the common border by March 2024. Secretary of Iran's Supreme Council of Free and […]
Iraqi Passport again Ranks 2nd Last in World
From Henley & Partners. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Japan has been knocked off the top spot on the Henley Passport Index for the first time in five years and bumped into 3rd place, according to the latest ranking, which is […]
Iraqi Cardinal Loses State Recognition
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Deep Dive: Iraqi cardinal loses state recognition amid escalating intra-Christian confrontation Iraq's president has revoked state recognition of Cardinal Louis Raphael Sako as Patriarch of the Chaldean Catholic Church. The measure, which has […]
Iraq Renews Deal to supply Lebanon with Oil
By John Lee. The governments of Iraq and Lebanon have signed a Memorandum of Understanding (MoU) wherein Iraq will supply Lebanon with quantities of fuel and crude oil. The agreement, in line with Cabinet Decision No. 23265 in 2023, aims to support Lebanon's electricity sector and strengthen cooperation between the two countries, serving their mutual […]
Wizz Air to launch New Service to Erbil
By John Lee. Ultra-low-fare airline Wizz Air Abu Dhabi, has announced its latest route to Erbil, in the Kurdistan Region in Iraq. Flights to Erbil will commence on 6th October and will operate twice a week, on Monday and Friday. Wizz Air Abu Dhabi is a subsidiary of Hungary's Wizz Air. (Source: Wizz Air Abu […]
Kurdish Farmers Struggle to Market their Wheat
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Kurdish farmers struggle to market their wheat After two difficult years because of lack of rain, Kurdistan Region's farmers were hopeful that this summer's bountiful wheat harvest would finally bring them some financial relief. […]
PM Sudani Initiative to Promote Private Sector
By John Lee. Iraqi Prime Minister Mohammad Shia Al-Sudani chaired a meeting this week to discuss the current state of the industrial sector in Iraq and the launch of a new industrial initiative to boost this sector. The meeting was attended by advisors and private sector representatives. The meeting discussed the initiative, which includes reviewing […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 20th July 2023). 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 1,113.5 2.4% 22.3% RSISX USD Index 1,094.8 […]
Chinese Firm signs $390m Drilling Contract at Rumaila
By John Lee. China's Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) has signed a major drilling engineering service contract for Iraq's giant Rumaila oilfield. The contract was signed on Sunday with the Basra Energy Company Limited (BECL), which was set up in 2021 to operate the field, and announced to the markets on Wednesday. […]
US Bans 14 Iraqi Banks from Dollar Transactions
By John Lee. The US has reportedly barred 14 Iraqi banks from conducting dollar transactions, as part of a crackdown on illegal transfers of dollars to Iran and other sanctioned countries. According to the Wall Street Journal, the banks include Al Mustashar Islamic Bank, Erbil Bank, World Islamic Bank, Zain Iraq Islamic Bank and Al […]
New US Waiver letting Iraq pay Iran for Electricity
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed are those of the author(s) and do not necessarily reflect the views of Iraq Business News. US Secretary of State, Antony Blinken, on Tuesday signed a new national security waiver letting Iraq pay Iran for electricity that, for the first time, allows such […]