By John Lee. Irish-based Petrel Resources Plc (LON: PET) has raised £250,000 through a share placement managed by Novum Securities. The placement represents a 45% discount to the closing price on 5 March 2025. According to a statement from the company, the funds will provide additional working capital, supporting Petrel's efforts to secure new oil and […]
From the Iraq Britain Business Council (IBBC): Now Available in Arabic: Professor Frank Gunter's Report "Is Iraq Business Ready?" The Iraq Britain Business Council (IBBC) is pleased to announce the release of the Arabic version of Professor Frank Gunter's report, which was presented at the IBBC Baghdad Conference on 17 February 2025. Titled "Is Iraq […]
By John Lee. The Central Bank of Iraq (CBI) has announced a new initiative to support clean energy solutions, aligning with global sustainability efforts and the environmental policies of central banks worldwide. As part of its renewable energy initiative, CBI will offer low-interest loans to local brick factories, enabling them to switch from high-pollution fuel […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 6th March 2025. 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 2,191.7 -1.2% -2.6% RSISX USD Index […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Banks End a Second Year with a Bang The market, as measured by the Rabee Securities U.S. Dollar Equity Index (RSISX USD Index), continued with the process […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a meeting of the High Committee for Tax Reform on Wednesday, where he launched the Digital Tax Inquiry Service within the Ur e-Services Platform. The service enables citizens, businesses, and companies to electronically check their tax status with speed, accuracy, and transparency. It also resolves issues […]
The Ministry of Education of the Kurdistan Regional Government (KRG) has installed solar power systems in 81 schools across the governorates of Erbil, Slemani, Duhok, Halabja and Kirkuk. Saman Siwayli, spokesperson for the ministry, stated that the initiative aims to ensure schools have uninterrupted 24-hour electricity, eliminating reliance on power generators. To further expand the […]
By John Lee. Iraq's Supreme Council for Youth has launched "Mubadara Al-Khair" (Initiative of Goodness) programme to empower young entrepreneurs in agriculture, food security, livestock, and climate sectors. The initiative, directed by Prime Minister Mohammed S. Al-Sudani, includes: Providing loans to youth-led projects. Training and mentorship for participants. Support in acquiring modern equipment for agricultural […]
By Michael Knights, 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. Make Iraq Independent of Iranian Energy By letting previous waivers expire, the United States can help Baghdad establish other suppliers and stand on its own […]
By John Lee. The Central Bank of Iraq (CBI) has decided to revoke the licence of Al-Tufan Company for Currency Exchange and Brokerage due to what it describes as violations of Regulation No. (1) of 2022, which governs the operations of exchange and brokerage firms in Iraq. Click here to see the full statement from […]
By John Lee. The Central Bank of Iraq (CBI) has reported a 5.4-percent increase in banking sector loans and advances in Q4 2024, reaching IQD 64.12 trillion [$49 billion], up from IQD 60.81 trillion in the same period of 2023. According to state-run Iraqi News Agency (INA), the CBI noted that this growth reflects improved […]
By John Lee. Iraq's Federal Commission of Integrity (COI) has called on United Nations Convention Against Corruption (UNCAC) member states to enhance legal cooperation in recovering stolen assets and illicit funds. During a meeting with Swiss Ambassador Daniel Hunn, COI Chairman Dr. Mohammed Ali Al-Lami stressed Iraq's commitment to eradicating corruption and preventing capital flight, […]
