By John Lee. Prime Minister Mohammed Shia al-Sudani announced the start of the second phase of the Hilla Sewer Project, with a budget of $287 million, during a visit to the Babil province on Thursday. While on a field tour, the prime minister reviewed the progress of the first phase and emphasized the importance of […]
By John Lee. Iraqi Minister of Transport, Razzaq Mohibis Al-Saadawi, met with a Turkish delegation at the Ministry of Transport on Thursday to discuss the latest updates on the Development Road project. According to a ministry statement, the minister welcomed the Turkish delegation, led by Burak Ikan, Director General of International Relations at the Turkish […]
By John Lee. Aswar Al-Hadhaba General Trading, Contracting and Transportation has won a contract with the United Nations Assistance Mission for Iraq (UNAMI) for, "Rehabilitation and Extension of Existing Irrigation Channels." The contract is valued at $800,000. Potential end date is Friday, July 5, 2024. (Source: UNGM)
By John Lee. Iraq's Integrity Commission called for streamlining unnecessary procedures when visiting property registration offices. A survey measuring bribery perceptions revealed that 63% of reviewers stated that the desire for quick transaction processing was the primary reason for paying bribes. The Commission recommended strengthening the monitoring role of the Ministry of Justice's regulatory bodies […]
By John Lee. Genel Energy issued the following trading and operations update relating to Q1 2024 on Thursday, ahead of the Company's Annual General Meeting: Paul Weir (pictured), Chief Executive of Genel, said: "We have achieved balanced income and expenditure in the first quarter of the year, which is ahead of schedule. Local sales from […]
By John Lee. Lockheed Martin Corp., Rotary and Mission Systems, Manassas, Virginia, was awarded a cost-plus-fixed-fee contract in the amount of $15,586,916 for Iraq integrated air defense system contractor logistics support. This contract provides for follow on contractor logistics support to include subject matter expert support, engineering support, return and repair, and in country on-site […]
By John Lee. Reband Company For General Contracting has won a contract with the United Nations Assistance Mission for Iraq (UNAMI) for, "Car Parking and Transport Workshop Facilities Improvement Project at UNAMI Compound." The contract is valued at $166,956. Potential end date is Thursday, August 1, 2024. (Source: UNGM)
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 9th May 2024). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,782.9 -1.6% 14.7% RSISX USD Index […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Debate: Will Iraq, Kuwait succeed in truly turning the page? Former Iraqi leader Saddam Hussein's 1990 invasion of Kuwait cratered the relationship between the two neighbors. More than three decades later, even with […]
By John Lee. The Iraqi Ministry of Oil has defended its decision to award the development of the Akkas gas field to little-known Ukrainian company, Ukrzemresurs. According to a statement from the Ministry, the decision followed Ukrzemresurs' application to the Contracts and Petroleum Licensing Directorate (PCLD), fulfilling the required standards and providing financial and legal […]
By John Lee. The General Company for Iraqi Cement, a subsidiary of the Ministry of Industry and Minerals, reported a 22-percent increase in production in the first quarter of the current year compared to the same period in 2023. Director General Haider Hadi Ali stated the company produced 2,356,975 tons of cement across its plants […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, reported first quarter 2024 operating profit of USD 61 million, 61 percent higher than the previous quarter, on the back of revenues totaling USD 183 million. Free cash flow at USD 44 million was up 31 percent from the fourth quarter of 2023. Net […]
