Genel Energy CEO Steps Down
Genel Energy has announced that after discussions with the Board following the recent AGM, at which Bill Higgs did not receive the required 50% majority of votes in favour of re-election as a Director, he has agreed to step down as CEO of the Company with immediate effect. Dr Higgs will take up a role […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th June 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD985 (+6.4%) / $861 (+6.4%) (weekly change) (+7.3% and +6.9% YTD change, respectively). The number of week traded […]
ITC launches Partnerships with Agri-Food firms in Iraq
ITC launches partnerships with major agri-food companies in Iraq New partnerships to connect Iraqi agri-food companies with local producers have now been launched in the country with support from the European Union. The Strengthening the Agriculture and Agri-food Value Chain and Improving Trade Policy (SAAVI) project signed partnership agreements with major enterprises in the agri-business […]
Rotana announces First 5-Star Hotel in Sulaymaniyah
By John Lee. Rotana has opened a new 5-star hotel in Iraqi Kurdistan. According to a press release, the Slemani Rotana features 240 spacious rooms and suites with a convenient location on Salim Street in the center of Sulaymaniyah. Facilities include a state-of-the-art gym, a spa, a piano bar, and a variety of restaurants. The […]
Denmark supporting UNDP's Social Cohesion programme in Iraq
New contribution from Denmark supports UNDP's integrated approach to social cohesion in Iraq The United Nations Development Programme (UNDP) in Iraq welcomes a US$3.4 million (DKK 24 000 000) contribution from the Government of Denmark to support the implementation of the Iraq Social Cohesion Programme. UNDP Iraq's Social Cohesion Programme strengthens institutional frameworks to build […]
8.8% Growth Expected in Iraq this year
By John Lee. GDP growth is forecast to hit 8.8 percent this year, according to the World Bank's latest Global Economic Prospects report. This represents a small reduction on the previous forecast of 8.9 percent, issued in April. Growth projections for the following two years remain unchanged, at 4.5 percent in 2023 and 3.0 percent in 2024. […]
Iraqi Parliament passes urgent Food Security Bill
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi parliament passes urgent food security bill The Iraqi judiciary had blocked a previous version of the legislation, which empowers the government to address rising food prices and shortages resulting from […]
PM announces new Ministry of Electricity and Alternative Energy
By John Lee. The Iraqi Prime Minister has announced that the Ministry of Electricity is to be renamed the "Ministry of Electricity and Alternative Energy". At a press conference in Baghdad, Mustafa al-Kadhimi (pictured) said it is unreasonable to build gas power stations when there is not enough gas available, so the new ministry will […]
Fitch Rates Iraq's RTB Bank 'CCC+'
By John Lee. Fitch Ratings has assigned the Erbil-based Region Trade Bank for Investment and Finance Private Shareholding (RTB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'. It says the privately-owned bank has minimal market shares in Iraq, no competitive advantages and limited distribution capabilities. More here. (Source: Fitch […]
Preparations made for Iraqi e-Government Project
By John Lee. A meeting has been held in Baghdad to prepare for the World Bank-funded project to modernize Iraq's public financial management systems. The meeting was attended by the Director General of the Administrative and Financial Department, Mr. Hassan Al-Magouter, and a team from Irish-based consultancy AARC, which signed a contract in December to […]
UNOPS awards Contracts for ICT Equipment in Iraq
By John Lee. The United Nations Office for Project Services (UNOPS) for has awarded a series of contracts for the provision and delivery of ICT equipment and licenses in Iraq: Lot 1 - Laptops: Sidra Almuntaha'a. Contract value $43,100; Lot 2 - Desktops: Canon for Trading Computers and Electronic Supplies Ltd. Contract value $887,200; Lot […]
Start-Ups On The Move, Networking Event in Erbil
SPARK and Startups Without Borders are hosting the Startups On The Move networking events, a series of ecosystem events happening in June, to connect entrepreneurs from diverse backgrounds with key ecosystem players in the Middle East. The events are part of the Startups on the Move incubation programme, launched with support from Google.org, which involves […]