The Death of Oil Federalism? Implications of Court Ruling
By Bilal Wahab 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. The Death of Oil Federalism? Implications of a New Iraqi Court Ruling The legal decision and its political fallout are threatening some of the country's […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th February 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD650 (+1.0%) / $697 (+1.0%) (weekly change) (+4.8% and +4.8% YTD change, respectively). The number of week traded […]
Iraq Air Force resumes use of L-159 Strike Aircraft
By John Lee. The Iraqi Air Force has resumed tasking its Czech-made L-159 and Russian-made Su-25 strike aircraft again for operations during the quarter. According to a recent report from Combined Joint Task Force-Operation Inherent Resolve (CJTF-OIR), the L-159's combat tasking is notable since it had not been used for operations in nearly 5 years. […]
Ericsson Shares Fall on Iraq/IS Bribery Fears
By John Lee. Shares in Swedish telecom company Ericsson closed down nearly 11 percent on Wednesday after the company admitted that some of its employees may have bribed members of the Islamic State group (IS, ISIL, ISIS, Daesh) in Iraq. In a lengthy statement to the markets, the company said: "The investigating team also identified […]
Shvabe starts delivering Medical Equipment to Iraq
By John Lee. Russia's Shvabe Holding has transferred the first batches of infrared heaters and multi-functional inhalation anesthesia devices to distributors in Iraq. The equipment will be used at medical facilities in Baghdad. The Radiant Heat-BONO heater is used as the primary or additional source of heat for newborns during their resuscitation or super-intensive phototherapy […]
Iraq's Bitter Legacy of War Still Lies Hidden Underground
By Jack Losh, for Foreign Policy. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. In Iraq, the Bitter Legacy of War Still Lies Hidden Underground Baghdad can't rebuild its infrastructure and agricultural sector when its land remains littered with thousands of explosive devices. […]
Iraqi Court Rules Against KRG Sales of Oil and Gas
By John Lee. Iraq's Federal Supreme Court has ruled that sales of oil and gas by the Kurdistan Regional Government (KRG), independently of the central government in Baghdad, is unconstitutional. In a statement on Tuesday, the court said that the Oil and Gas Law of the Kurdistan Regional Government, No. (22) of 2007, violated the […]
Asiacell Increases Customer Base and Revenues for FY2021
By John Lee. Mobile phone service Asiacell has reported a healthy increase in its customer base and local-currency revenue. In its results for FY 2021, parent company Ooredoo said: "Asiacell reported revenue of QAR 3.7 billion during 2021, a decrease of 9% mainly due to the devaluation of the Iraqi Dinar by 18%. In local […]
Panel Discussion: Saudi Arabia and Iraq - An Evolving Relationship
From The Brookings Institution. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Saudi Arabia and Iraq: An evolving relationship Saudi Arabia and Iraq have long had a complex relationship, at times vying for positions of leadership in the Arab World and often closely […]
Improving the Lives of 5 Million Children in Iraq
UNICEF and Zain Iraq launch partnership to improve the lives of more than 5 million children in Iraq UNICEF and Zain signed a partnership on Tuesday based on their shared values to support the rights of children in Iraq by adopting joint work plans on several child related areas, including education, health and nutrition, social […]
Iraqi Min of Oil Denies that TotalEnergies Deal is Stalled
By John Lee. Iraq's Ministry of Oil has denied reports that its multi-billion-dollar deal with France's TotalEnergies has stalled amid disputes over terms, and that it risks being scrapped by the next government. On Monday, Reuters cited sources at the Ministry, and other oil industry sources, as saying that the deal was mired in disputes. […]
Al-Rafidain Bank sets Interest Rates
By John Lee. The state-owned Al-Rafidain Bank has announced the following interest rates: and fixed deposits for the citizens' accounts for the year 2022 in an effort to raise the economic and living standard of the citizen. The interest rate for Savings accounts: 4% for one year. Fixed deposit rate: 4.5% for six months; 5% […]