Iran, Iraq Deal to Boost Cooperation in Electricity
High-ranking officials from Iran and Iraq on Friday signed two memorandums of understanding (MoUs) and a contract to boost cooperation between the two countries in the electricity industry. At the end of his three-day visit to Iran, Iraqi Minister of Electricity Luay al-Khatteeb signed two MoUs and a contract on the electric industry with Iranian […]
Petrofac Exec admits Bribes Paid to Win Iraq Contracts
In connection with the UK Serious Fraud Office (SFO)’s ongoing investigation into Petrofac Limited and its subsidiaries (“Petrofac”), on 6 February 2019 David Lufkin, 51, a British national, and previously Global Head of Sales for Petrofac International Limited, pleaded guilty at Westminster Magistrates’ Court to eleven counts of bribery, contrary to sections 1(1) and 1(2) […]
Iran, Iraq to Use Euro, Dinar in Oil Trade
The governor of the Central Bank of Iran unveiled plans for using non-dollar accounts for oil and gas trade with Iraq. Abdolnaser Hemmati on Wednesday held a meeting with presidents of Iraqi banks, members of Iraq’s chamber of commerce and the Arab country’s business people during a trip to Baghdad. In the gathering, the top […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th January 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD639 (+0.1%) / $689 (+0.1%) (weekly change) (-3.0% and -3.0% YTD change, respectively). The number of week traded […]
Market Review: “Money makes the World go Round”
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraq Stock Exchange (ISX), as measured by the Rabee Securities RSISUSD Index, started the year not with a bang but with a whimper, as […]
DNO Reports Record Revenues
DNO ASA, the Norwegian oil and gas operator, today announced 2018 net profit of USD 354 million on revenues of USD 829 million, the highest annual revenues in the Company's 47-year history. Cash flow from operations increased 40 percent to USD 472 million in 2018, of which USD 334 million represented free cash flow. Operated […]
Cabinet agrees Government Programme 2018-2022
The Cabinet held its weekly regular meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Adil Abd Al-Mahdi. It discussed the Iraqi government programme for 2018-2022, and adopted a covenant committing the Prime Minister and members of the Cabinet to implementing the programme and to be held accountable for its delivery before parliament. […]
Rotana announces Five-Star Hotel in Baghdad
By John Lee. UAE-based Rotana Hotels has signed a hotel management agreement with Al Ibaa Company to operate a five-star property in Baghdad. Effective 1 February 2019, Rotana will operate the city’s famed Babylon Hotel under its new brand name Babylon Rotana Baghdad. With a prime location next to the high-security Green Zone, close to […]
Training Workshops for potential UNDP Bidders
In order to strengthen the bidders knowledge of UNDP tendering process/e-tendering and procurement rules and regulations, , UNDP Country Office Iraq is planning to conduct two training workshops for all interested firms/companies as per the following details: Training session - 12 February 2019 – Erbil Training session – 21 February 2019 – Baghdad All interested […]
New Career Opportunities in Iraq
By John Lee. The United Nations has advertised new positions in Iraq: Programme Mgmt Specialist, UNDP - United Nations Development Programme Country Financial Controller, Iraq/Syria, Concern Worldwide Assessment of Iraq Education Sector Decentralization Process, UNICEF - United Nations Children's Fund Project Assistant, UNAMI - United Nations Assistance Mission for Iraq Reintegration Assistant, UNAMI - United […]
New Career Opportunities in Iraqi Kurdistan
By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: MEL Manager for WASH and Cash Portfolio, Mercy Corps Senior Social Cohesion Assistant (Team leader), UNAMI - United Nations Assistance Mission for Iraq Donor Reporting and Communication Officer, UNAMI - United Nations Assistance Mission for Iraq National Data Officer (Displacement Tracking Matrix), […]
PM Urges Rapid Implementation of Iran Banking Deal
Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said Iraqi Prime Minister Adil Abdul-Mahdi has voiced “his firm support” for the banking deal reached between the two countries on Tuesday night and called for its rapid implementation. "After a long and four-hour meeting last night with the governor of the Central Bank of […]