Germany, UNDP Strengthening Criminal Justice Services in Iraq
Germany supports UNDP in strengthening criminal justice services in Iraq Germany and the United Nations Development Programme (UNDP) have signed a EUR 826,250 donor agreement on strengthening Iraq's criminal justice services and improving their capacities to conduct effective interviews in line with international human rights commitments. The project promotes the application of the new regulations […]
Alsaree3 Group in Iraq Receives Additional Funding
Alsaree3 Group, consisting of Alsaree3 (food-delivery) and Al Zajel Express (last-mile delivery services), closed a 7-figure bridge round in December 2022, bringing its total amount of funding raised to over $6.5 million USD. Founder and CEO of Alsaree3 Group, Bassam Al-Ateia, commented: "This funding will enable us to increase our market share and grow our […]
Iraq "Offers many Investments Opportunities to Int'l Businesses"
The President of the Republic of Iraq, Abdullatif Jamal Rashid met with the Group Chairman and Chief Executive Officer of DP World and the Chairman of the Ports, Customs and Free Zone Corporation, Sultan Ahmed Bin Sulayem alongside the CEO and Managing Director - of the Middle East and Africa at DP World, Suhail Al […]
Iraq introduces Tax Incentives for Point-of-Sale (POS) Terminals
By John Lee. The Iraqi Cabinet has approved the recommendations of the Ministerial Council, encouraging the use of electronic point-of-sale (POS) terminals. The use of electronic transactions has been shown to improve security, efficiency and convenience for retailers and customers. Specifically, the cabinet approved the following measures: The Central Bank of Iraq (CBI) simplifies the […]
Virgin Atlantic fined $1m for flying over Iraq
By John Lee. The U.S. Department of Transportation (DOT) has fined UK-based Virgin Atlantic $1.05 million for operating flights carrying Delta Air Lines' code (DL) in regions in which a Federal Aviation Administration (FAA) flight prohibition was in effect. The airline was ordered to cease and desist from future similar violations. An investigation by the […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 19th January 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Return RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 981.2 1.0% 7.8% RSISX USD Index 781.3 […]
Trade Bank of Iraq (TBI) achieves Record Profits
By John Lee. The state-owned Trade Bank of Iraq (TBI) has announced a net profit of 1.267 trillion Iraqi dinars (approx. $867 million) for the year just ended, making 2022 its most profitable year since its establishment in 2003. In a statement, the bank said the increase was due to the careful management of funds […]
Zain Iraq finalises Sale-and-Leaseback of Towers
By John Lee. Zain Group has announced that its operation in Iraq has entered into a definite 15-year agreement to sell and leaseback, as well as the management rights of the passive physical infrastructure of its 4,968 tower portfolio in Iraq to TASC Towers Iraq for US$180 million. The deal also comprises of TASC Towers […]
Riyadh Cables wins $25m Iraq Export Deal
By John Lee. Saudi-based Riyadh Cables Group has signed an export agreement worth $25 million with Iraq's Wafaa Al-Furat Company for Electrical Materials Trading. Under the agreement Riyadh Cables will start exporting wires and electrical cables from Saudi Arabia to Iraq during 2023. The company also owns the Al-Rowad Electrical Cables manufacturing facility in Baghdad. […]
Switzerland supports reopening Embassy in Baghdad
By John Lee. Iraq's Deputy Prime Minister and Foreign Minister, Fuad Hussain, met with Swiss Foreign Minister, Ignace Cassis, on Tuesday, on the sidelines of the Davos conference. Minister Hussain emphasized that Iraq is playing a role in bringing the perspectives of some regional countries together, with the aim of creating a stable environment in […]
KRG Clears 2m+ Square Meters of Mined Land
By John Lee. The Kurdistan Region Government (KRG) has issued data on the clearance of mined land over the past year: 2,316,756 square meters of land was cleared of mines and IEDs in the Kurdistan Region in 2022. 47 fields were cleared of landmines, with 27 cleared by the Iraqi Kurdistan Mine Action Agency (IKMAA) […]
Iraq's Economic Outlook "looks Bright"
By John Lee. The Founder and Chairperson of Iraqi stockbroker Rabee Securities has said that he is optimistic for the year ahead in Iraq. Shwan Ibrahim Taha told TradeArabia: "I am optimistic about Iraq's outlook; we will witness a gradual increase in production to reach five million barrels by 2028. Any significant downside in oil […]