Arab Monetary Fund forecasts Growth Rate for Iraq
By John Lee. A new report from the Arab Monetary Fund (AMF) forecasts a growth rate for Iraq of 5.5 percent this year, falling to 4.4 percent in 2023. The Seventeenth Edition of the 'Arab Economic Outlook Report' can be downloaded here (Arabic only). (Source: Arab Monetary Fund)
Iraq Confirms July Oil Exports
By John Lee. Iraq's Ministry of Oil has announced finanlised oil exports for July of 102,385,049 barrels, giving an average for the month of 3.303 million barrels per day (bpd), down from the 3.373 million bpd exported in June. The exports from the oilfields in central and southern Iraq amounted to approximately 99,965,094 barrels, while […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 25th August 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD888 (+1.3%) / $776 (+1.6%) (weekly change) (-3.2% and -3.6% YTD change, respectively). The number of week traded […]
Informal Businesses in Iraq: Critical Lessons
The World Bank's Enterprise Analysis Unit, in collaboration with colleagues from the Social Protection and Jobs team in the Middle East and North Africa (MENA) region, recently published the data from an Informal Sector Enterprise Survey conducted in Iraq, covering four major cities in the country: Baghdad, Basrah, Sulaymaniyah, and Najaf. These surveys are designed […]
Biden's Indifference has given Iran the Upper Hand in Iraq
By David Schenker, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Biden's Indifference Has Given Iran the Upper Hand in Iraq In light of Tehran's concerted efforts to reverse last year's electoral setback, it has become […]
Amarinth delivers Pumps to West Qurna-2
By John Lee. UK-based Amarinth has reportedly delivered pumps worth £1.2 million to the West Qurna-2 expansion project. According to World Pumps, the first order was from Italy's Cannon Artes, and was for seven super duplex API 610 OH1 pumps. The second order, from SICIM (also from Italy), was for three super duplex API 610 […]
Sardar Al-Bebany honoured by the Government of Japan
IBBC Executive Committee Member Mr Sardar Al-Bebany is honoured with an award by the Government of Japan On August 21st 2022 Mr Sardar Bebany, Chairman of Sardar Group, was awarded the Certificate of Commendation by the Japanese Ambassador to Iraq. The awarding ceremony took place in Erbil in the presence of senior businessmen, representatives of […]
CBI tries to find way to pay Russian Oil Companies
By John Lee. Mustafa Ghaleb Mokhif, the Governor of the Central Bank of Iraq (CBI) has met with the Russian Ambassador to Iraq, Elbrus Kutrashev, to discuss the payments due to Russian companies operating in Iraq. In a statement after the meeting, both parties expressed the need to find appropriate solutions to this issue. Payments […]
Iraq's Judiciary Shuts Down as Sadrists Escalate Protests
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's judiciary shuts down as Sadrists escalate street politics Iraq's supreme judicial council has announced the suspension of the operation of courts. This comes as the Shiite Coordination Framework says it will end […]
Iraq to Strengthen Telecom Link to Europe
By John Lee. Telecom Egypt and Orange Jordan have reportedly announced an agreement to connect Iraq's telecommunications system to Europe through Jordan and Egypt. According to Zawya, the new system will be known as the "Cairo Amman Baghdad System (CAB System)." It is planned to be operational in the current quarter. (Source: Zawya)
Work Begins on Akkas Gas Pipeline
By John Lee. Work has begun on the project to extend the gas pipeline from the Akkas gas field to the Akkas power station, in the Qaim district of Anbar Governorate. The General Manager of the State Company for Oil Projects (SCOP), Shaker Mahmoud Khalaf, said the pipeline (pictured) will be 35 kilometers in length. […]
Contract Awarded for Solar Street Lights in Anbar
By John Lee. Al-Safwa Office has won a new contract with the United Nations Office for Project Services (UNOPS), for the supply and installation of solar street lights in Anbar. The contract is valued at $449,560. (Source: UNGM)