Italian Firm presents Plans for Major Iraqi Rail Project
By John Lee. Italian engineering consultancy Progetti Europa & Global S.p.A. (PEG) has met with the Secretary-General of Iraq's Council of Ministers, Dr. Hamid Naim Al-Ghazi, to discuss the rail project connecting southern and northern Iraq. At the meeting, the company gave a detailed presentation on the stages of feasibility studies, the proposed routes, the supporting […]
Moody's assigned Credit Ratings for National Bank of Iraq (NBI)
By John Lee. Moody's Investors Service has assigned first time local currency long-term/short-term deposit ratings of B3/NP for National Bank of Iraq (NBI), and foreign currency long-term/short-term deposit rating of Caa1/NP. At the same time, the rating agency has assigned a Baseline Credit Assessment (BCA) of caa2, Adjusted BCA of b3, as well as long-term […]
New Water Treatment Plant opened in Sinjar
The newly built Reverse Osmosis Water Treatment System in al-Qayrawan, Sinjar, has officially been opened with support from the United Nations Development Programme (UNDP), the United States Agency for International Development (USAID) and the Ninewa Governorate. The newly built water treatment system will provide uninterrupted access to clean drinking water to over 9,500 people living […]
EU Renews Support to UNITAD's Digitization of Evidence
The European Union renews its Support to UNITAD's Digitization of Evidence of ISIL crimes in Iraq The European Union (EU) extended its long-term commitment to justice and accountability with renewed support to the United Nations Investigative Team to Promote Accountability for Crimes Committed by Da'esh/ISIL (UNITAD). With this extension, the EU committed an additional €3.8 […]
Iraq: A Crisis of Elite, Consensus-Based Politics turns Deadly
By Haley Bobseine, for The Middle East Institute. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq: A crisis of elite, consensus-based politics turns deadly This article is the first in a three-part series on Iraq's political crisis. This piece analyzes the crisis […]
SOMO warns Int'l Companies not to buy Oil from KRG
By John Lee. Iraq's State Oil Marketing Organization (SOMO) has announced that it had taken "marketing measures" and informed all international companies not to buy crude oil from the Kurdistan Region of Iraq (KRI). SOMO Director, Alaa Al-Yasiri, also told the state-run Iraqi News Agency (INA): "The Federal Court issued a decision stipulating the invalidity […]
New Road Opened in Soran, Kurdistan
KRG Prime Minister Masrour Barzani has inaugurated the new Spilk-Khalifan highway in the Soran Autonomous Administration. The 8.5-km highway has been implemented at a cost of 64.2 billion Iraqi Dinars [$44 million]. At the inauguration ceremony, the Prime Minister described the highway as one of the many strategic projects aimed at enhancing the economic infrastructure […]
ILO partners to advance Financial Education among Iraqi Youth
The Ministry of Youth and Sports and the ILO partner to advance financial education among youth in Iraq The International Labour Organization (ILO) and the Ministry of Youth and Sports (MOYS) in Iraq have signed a Memorandum of Understanding (MoU) to strengthen their cooperation in advancing financial education among youth in Iraq. The new partnership […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 22nd September 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD940 (+1.1%) / $822 (+1.1%) (weekly change) (+2.4% and +2.1% YTD change, respectively). The number of week traded […]
Court rules Iraqi National Oil Company (INOC) Unconstitutional
By John Lee. Iraq's Federal Supreme Court has invalidated the Cabinet decision to set up the Iraqi National Oil Company (INOC). According to a statement from the Court, Paragraphs 2 and 3 of Cabinet Decision No. 109 of 2020, and Decision No. 211 of 2021, are in breach of the constitution. The full judgement, in […]
Min. Ali Allawi: The Most Stinging Resignation Letter Ever Written
By Robert F. Worth for The Atlantic. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. The Most Stinging Resignation Letter Ever Written When Iraq's finance minister stepped down last month, he didn't go quietly. Click here to read the full article.
$24m for Flood Defences in Erbil
KRG allocates 35 billion Dinars to mitigate the impact of flooding in Erbil province Under the direct supervision of Prime Minister Masrour Barzani, the Erbil Flood Conference was launched on Saturday. The Conference will last for two days and is also being attended by various officials of the Kurdistan Regional Government (KRG), as well as […]