By John Lee. The Gulf Cooperation Council Interconnection Authority (GCCIA) has signed 5 contracts with companies to implement the electrical interconnection project between the Gulf states and Iraq. According to a post by @raad_arabi on Twitter, the total cost of the project is more than $200 million. The authority will construct a 295-km power line […]
Dana Gas PJSC has announced its preliminary financial results for the full year ended 31 December 2022: The Company reported net profit of AED 667 million ($182mm) in 2022 as compared to AED 1.16 billion ($317mm) in 2021. Excluding other income and impairments, Dana Gas reported adjusted net profit of AED 718 million ($196mm) as […]
By John Lee. Iraq's Minister of Agriculture, Abbas Jabr al-Olayawi [Alayawi, Obada], has received the delegation of the Austrian company Bauer, a manufacturer of sprinklers and irrigation systems. The delegation was led by the Financial Director of the company, Andreas Schitter. The Minister listened to a detailed explanation about the work of the company and […]
By John Lee. Iraqi President, Dr. Abdul Latif Jamal Rashid, received Russian Foreign Minister Sergey Lavrov and his accompanying delegation on Monday. President Rashid highlighted the importance of enhancing economic cooperation between the two countries, pointing to the need for coordination and consultation on issues of common interest including security and peace in the region […]
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. Iraq Market Report: Market Begins to Discount Currency Upheavals The market, as measured by the Rabee Securities RSISX USD Index, was down 5.0% for January. F or […]
By John Lee. Germany's AHG Industry GmbH & Co. KG has applied for an annulment of the recent award made in favour of the Iraqi Government, in relation to a dispute over the alleged takeover of a cement factory in Kirkuk. The World Bank's International Center for Settlement of Investment Disputes (ICSID) had previously dismissed […]
By John Lee. The President of the Jordanian Businessmen Association, Hamdi Tabbaa (pictured), has said that partnerships between Jordan and Iraq's business communities are crucial for a successful economic relationship between the two nations. He called for an action plan to outline both sides' priorities and track agreement outcomes. On February 8th, a joint committee […]
Fulbrighters live and learn together with people of different cultures and become part of a global network that fosters mutual understanding between nations, advances knowledge across communities, and improves lives around the world. After they return home, they join thousands of alumni serving as leaders across the globe and in every field imaginable. The Fulbright […]
By John Lee. The Iraqi dinar has reportedly fallen to new lows on Thursday, as people take to the streets to protest at the fall in the value of the Iraqi currency, which is leading to higher costs for imported goods. Various reports say that one US dollar could buy as many as 1,750 dinars […]
Readout of President Biden's Call with Prime Minister Mohammed Shia' al-Sudani of Iraq President Joe Biden spoke on Friday with Prime Minister Mohammed Shia' al-Sudani of Iraq to reaffirm U.S. commitment to Iraq and consult on regional developments. The President reaffirmed the U.S. commitment to the Strategic Framework Agreement with Iraq and commended the Prime […]
By John Lee. Iraqi Kurdistan's largest fish production project has started in Dohuk, and is reported to be 65-percent complete. According to a statement from the Kurdistan Region Government (KRG), the project's goal is to support domestic needs as well as sending fish products to the rest of Iraq and to Gulf countries. In the […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 2nd February 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Return RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 946.9 -4.6% 4.0% RSISX USD Index 705.5 […]
