TipTop raises $5m from Korek
By John Lee. TipTop has announced a new investment of $5 million to expand its online food and grocery delivery service in Iraq. CEO and Founder Hassan Alsoud told readers on LinkedIn that the funding will be provided by Kurdistan-based mobile operator Korek. (Source: LinkedIn)
CNOOC to Explore Offshore in Iraq
By John Lee. The China National Offshore Oil Corporation (CNOOC) is to press ahead with oil exploration at a 530-km2 offshore block in Basra. Originally agreed in 2019, the work had been delayed due to the COVID-19 pandemic. In parallel, Iraq's state-owned Oil Exploration Company (OEC) will carry out seismic surveys on the adjoining 120-km2 […]
Honeywell to Modernize Iraqi Refinery
By John Lee. Honeywell has announced that the Lanaz refinery (pictured) in Erbil will use its technology to upgrade its operations so it can produce more cleaner-burning transportation fuels. It says the project marks the first use of its UOP modular technology in Iraq, and will help Lanaz comply with increasingly strict specifications for fuel […]
China "the Only Winner" in this Huge Iraqi Oil Field
Writing in Oil Price, Simon Watkins that the recent approval of the Iraqi National Oil Company (INOC)'s acquisition of ExxonMobil's 32.7 percent stake in the West Qurna 1 oil field is likely to leave China delighted, the U.S. irritated, and Iraq's oil industry still unable to achieve any of its key oil output goals. Click […]
Iraq: Impunity for Serious Abuses - HRW
From Human Rights Watch (HRW). Any opinions expressed are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq: Impunity for Serious Abuses The Iraqi government failed in 2021 to deliver on promises to hold to account those responsible for the abuse of protesters, activists, journalists, and critics of […]
Blue Water to open Office in Iraq
By John Lee. Blue Water Shipping's Energy and Projects Division has announced plans to open an office in Iraq. Thomas Bek, Global Director of Energy & Projects at Blue Water, said: "Our customers in the energy sector operate internationally, and it is, therefore, a strategic objective that we continuously develop our organization to meet the […]
Conservatives seek to Shut Down Concerts in Iraq
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Conservative groups seek to shut down concerts in Iraq Iraqis fear that Islamic parties and armed religious groups are trying to impose their fundamentalist views on social and personal […]
Iraq's Credit Rating lifts with Final Reparations to Kuwait
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's credit rating lifts with final reparations payment to Kuwait Iraq paid Kuwait a final installment of war reparations more than 31 years after the invasion of Kuwait, […]
21 Arrest Warrants for Senior Iraqi Officials over Corruption
By John Lee. Iraq's Commission of Integrity issued 21 arrest warrants in December for senior state officials on charges of corruption. A further 77 officials were summoned for questioning as part of anti-corruption investigations. Among the people implicated are a current minister and a former minister, but the statement from the Commission mentioned no names. […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th January 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD919 (-2.1%) / $806 (-2.1%) (weekly change) (+0.1% and +0.1% YTD change, respectively). The number of week traded […]
UN confirms Iraq's Final Reparations Payment to Kuwait
Today (Thursday 13th January), the United Nations Compensation Commission (UNCC) made available $629,324,488 to the Government of the State of Kuwait towards the Commission's remaining claim with an outstanding award balance. With this payment, all claimants awarded compensation by the Commission have now received the full amount of their respective awards. In total, the Commission […]
Iraqi Stock Market: 2021 Review and Outlook for 2022
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "2021 Review and Outlook for 2022" The market, as measured by the Rabee Securities RSISX USD Index, had a strong recovery in December with a […]