Genel Energy to Claim Compensation from KRG
Shares in Genel Energy opened down more than five percent on Friday morning, before recovering some ground, after the company said it will claim compensation from the Kurdistan Regional Government (KRG). It says the claims, which relate to KRG's intention to terminate the Bina Bawi and Miran production sharing contracts (PSCs) are "substantial", and will […]
Germany gives another $22m to Boost Employment in Iraq
Germany Increases Support to Boost Employment Opportunities in Iraq with New EUR 18m Contribution Germany and the United Nations Development Programme (UNDP) have today signed a EUR 18.29 million agreement (US$ 21.78 million) to boost employment and economic opportunities for vulnerable communities in Iraq. The generous contribution is the second provided to the Building Resilience […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th December 2021). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD904 (+3.3%) / $791 (+3.3%) (weekly change) (+24.6% and +19.3% YTD change, respectively). The number of week traded […]
Al-Sadr uses Personal Diplomacy in search of Iraqi Deal
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. Muqtada Sadr uses personal diplomacy in search of Iraqi deal Populist cleric Muqtada al-Sadr is seeking to close the deal among Iraq's Shiite parties. Click here to read the […]
Network of Iraqi Alumni from UK Universities Conference
Network of Iraqi Alumni from UK Universities Conference 2nd Dec 2021, The Station Conference Hall, Baghdad A special occasion was witnessed on the morning of 2nd December, 2021, by the official launch of the Network of Iraqi Alumni from UK Universities, at a conference held in Baghdad in the presence of government and academic figures […]
Deloitte Report on Kurdistan Region Oil and Gas
Deloitte report on Oil and Gas review in the Iraqi Kurdistan Region - Q1 and Q2 of 2021 The KRG has published the reports containing verified statistics covering the Kurdistan Region's oil exports, consumption and revenues for covering period 1 January 2021 to 30 June 2021. During the first half of 2021, the KRG exported […]
Iraq blames Militias for Basra Explosion that Killed Four
By Hassan Ali Ahmed 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 blames militias for Basra explosion that killed four The Basra explosion caused by a booby-trapped motorcycle was aimed to assassinate an Iraqi investigative officer in charge of […]
Ummet Al Salam wins $860k Contract in Baghdad
By John Lee. Ummet Al Salam Co. Ltd. for General Trading & Contracting has won a new contract with the United Nations Office for Project Services (UNOPS): Construction of prefabricated units and installation of generators at the Signals School in Baghdad Governorate. Contract worth $860,726. (Source: UNGM)
IMF: Iraq's Non-Oil Real GDP expected to Rebound
The economy is recovering from last year's sharp contraction, helped by higher oil prices and easing of the containment measures. Non-oil real GDP is expected to rebound by 12 percent in 2021 while the fiscal and current account balances are expected to improve significantly. Higher oil revenues present the opportunity to tackle Iraq's significant vulnerabilities, […]
Signs of "Fragile Economic Resurgence" in Anbar
'Fallujah Land': Iraq's Anbar province rebuilds after Isis Writing in the Financial Times, Chloe Cornish says that, five years after defeat of the jihadis, there are signs of fragile economic growth in area known as resistance hotbed. Click here to read the full article (subscription required)
The Conflict at the Heart of Iraq's Intra-Shiite Deadlock
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The conflict at the heart of Iraq's intra-Shiite deadlock It is impossible to accurately predict the ultimate outcome of Iraq's Oct. 10 parliamentary elections. The wide-ranging discussions that are under way to form […]
General Dynamics wins new Iraq Defense Contract
By John Lee. General Dynamics Land Systems Inc., Sterling Heights, Michigan, has been awarded a $15,249,189 modification (P00003) to contract W56HZV-21-C-0072 for logistics support services for M1A1SA Abrams tanks and M88A1/A2 recovery vehicles. Work will be performed at Camp Taji, Iraq, with an estimated completion date of Dec. 31, 2022. (Source: US Dept of Defense)