SOMO Does Not Work This Way
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Below is the full Arabic text and source of what was reportedly said by Abdul Alal AL-Yassiry, the Chairman of the Iraqi Centre for Economic and Investment Consultation in Karbala. What prompts […]
Siemens to Upgrade Shatt Al Basra Power Plant
Germany's Siemens will upgrade one of the country’s largest gas-fired power plants. Under a new contract, Siemens will add 650 megawatts (MW) to Shatt Al Basra Gas Power Plant, which currently has a power generation capacity of 1,250 MW and consists of non-Siemens turbines operating in simple-cycle mode. Siemens will supply five of its highly-efficient […]
Possibly New Border Crossing between Iraq and Turkey
By John Lee. Turkish and Iraqi officials have reportedly announced plans for a feasibility study in advance of opening a new border crossing point 12 kilometers west of Habur. The new crossing would be named Ovaköy. (Source: Hurriyet Daily News)
Iraq to Easy Entry Visas for Investors
The Iraqi Cabinet held its weekly regular meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Haider Al-Abadi. It approved funding to support the implementation of measures to improve public services, with a focus on electricity supply, water, health and education. It also discussed a range of policies to encourage foreign investment, and […]
KRG Cabinet discusses 2019 Budget
Prime Minister Nechirvan Barzani chaired the 49th regular session of the Council of Ministers on Tuesday. It was also attended by Deputy Prime Minister Qubad Talabani. Prime Minister Barzani briefed the Council about his recent visit to Baghdad and meeting with Prime Minister Haider al-Abadi. He said, they agreed to continue dialogue and coordination and […]
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 Football hit by Age Fraud Scandals
AFP reports that with players banned from travel, executives sacked and a national squad that just withdrew from the Asian Games, Iraqi football is paying the price for a string of age fraud scandals. Read more here. (Source: AFP)
Election Recount: Sadr Retains Victory
By John Lee. Moqtada al-Sadr has reportedly retained his lead in Iraq’s parliamentary election following a full recount. According to Xinhua, the results showed no change in 13 of Iraq's 18 provinces, and changes in four provinces involving five seat-winners within their own coalitions. The recount did not alter the initial results significantly, with Sadr […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th Aug 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD743 (-1.0%) / $797 (-1.0%) (weekly change) (-8.4% and -4.6% YTD change, respectively). The number of week traded […]
New Investment Opportunities in Iraq
By John Lee. The National Investment Commission (NIC) has announced new investment opportunities in Iraq: Glass production, State Company for Glass and Refractories Industry (SCGR) Drugs and Medical Appliances (Samarra), State Company for Drugs and Medical Appliances (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)
KRG Oil Export Revenues 2017 Assessed
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Introduction KRG’ gross oil export revenues, for 2017, stood at $7.9billion but it was left with only $3.9billion as net earnings. When the Region receives less than half of its gross oil […]
How Iraq Should Respond to the Strait of Hormuz Crisis
By Youssef Ali. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. President Donald Trump’s decision to pull out of the nuclear deal and sign the executive order to reimpose sanctions on Iran has had a significant impact on the global oil markets. This move […]