Riding the Oil Markets, Iraq’s Economy in Transition
The Iraq Energy Institute (IEI) has issued its 2018 Annual Report, entitled "Riding the Oil Markets, Iraq’s Economy in Transition". In its summary, the IEI says: "Iraq’s fortunes are once again highly dependent upon oil prices following a period where the government succeeded in stabilising expenditures, on the basis of IMF conditionality. "This period was […]
Iraq Granted 257 Investment Licenses in 2018
By John Lee. The National Investment Commission (NIC), along with investment commissions in the provinces, granted 257 investment licenses during 2018. According to a statement from the NIC, this represents a combined investment of more than 8 billion dollars in the Iraqi economy. Four of these licenses were issued for strategic projects at a cost […]
Calls for UNESCO to include Babylon on World Heritage List
By John Lee. Iraqi President Barham Salih has called on the United Nations Educational, Scientific and Cultural Organisation (UNESCO) to include the ancient city of Babylon in its World Heritage List. The President made the request at meeting with UNESCO Director Audrey Azoulay in France. They also discussed the provision of job opportunities within UNESCO […]
Iran questions Iraq's Promise to Import Oil
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iran questions Iraq's promise to import oil despite sanctions Iran and Iraq have quite different views of their relationship status, with Tehran claiming it's been jilted and Baghdad declaring it's […]
UK Export Finance supports Siemens in Iraq
UK Export Finance (UKEF) will support a €30.2 million contract for the refurbishment of Al Mussaib power station in southern Iraq, the UK government has announced. The support will enable the rehabilitation of a 320 megawatt (MW) turbine, that will help improve the overall efficiency and output at the power station. Al Mussaib power station, […]
Baghdad defends Iraq-Jordan Agreement
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Baghdad defends advantages of Iraq-Jordan agreement from critics Iraqi Prime Minister Adel Abdul Mahdi and his Jordanian counterpart, Omar al-Razza, signed 14 economic agreements Feb. 2 between the two countries, during […]
Tratos Group joins Iraq Britain Business Council
By John Lee. The Iraq Britain Business Council (IBBC) has announced that Tratos Group has become its latest member. The Anglo-Italian company makes electrical, electronic and fibre optic cables for a wide variety of applications. (Source: IBBC)
Euphrates Advisors and AUIS announce new Scholarship
Euphrates Advisors LLC and AUIS announce establishment of Euphrates Fund Scholarship Euphrates Advisors LLC and American University of Iraq, Sulaimani (AUIS) announced today the establishment of the Euphrates Fund Scholarship (EFS), a generous grant that will cover the tuition of one University student each year. Euphrates Advisors is an investment firm that manages the Euphrates […]
Iraqi Officials "Arrest, Abuse, Harass Aid Workers"
Iraqi authorities in Nineveh are harassing, threatening, and arresting aid workers, even bringing bogus terrorism charges against them, undermining their work, Human Rights Watch said today. In some cases, local authorities are also compelling organizations to stop providing services to families the authorities accuse of ISIS ties. “As if the their working conditions aren’t difficult […]
GardaWorld Weekly Security Report
GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st February 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD605 (-3.7%) / $650 (-3.7%) (weekly change) (-8.3% and -8.5% YTD change, respectively). The number of week traded […]
GE Provides Turbine for Al Qudus Power Plant
GE Power has announced that it has provided an advanced 9E gas turbine to Iraq's Al Qudus Power Plant. The company will also service up to seven GE 9E gas turbines at the facility throughout 2019, including maintenance, supply of parts and rehabilitation. GE is installing the new gas turbine at the site and it […]