Chinese electrical appliance manufacturer Midea Group has appointed Al Hafidh as its distributor in Iraq. According to a press release, Al Hafidh is one of the biggest Iraqi-owned conglomerates, while Al Hafidth Home Appliances is widely recognized for its uncompromising commitment to quality and excellence and for being a customer-centric business organization. Distribution is scheduled […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 11th August 2022). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD877 (-1.4%) / $764 (-1.4%) (weekly change) (-4.5% and -5.1% YTD change, respectively). The number of week traded […]
DNO ASA, the Norwegian oil and gas operator, today reported strong second quarter operational and financial results powered by high oil and gas prices and by solid production in its operated flagship Kurdistan Tawke license. Spurred by quarterly revenue of USD 361 million and free cash flow of USD 167 million, the Company reduced debt […]
By John Lee. Prime Minister Mustafa Al-Kadhimi has laid the foundation stone for the rehabilitation of Mosul International Airport in Nineveh Governorate. He said that Mosul International Airport will provide many opportunities in various fields for Nineveh Governorate, and the neighboring regions, in transporting goods and passengers. (Source: Media office of the Prime Minister)
Genel Energy notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has today issued an update on licence activity. Gross production at the Tawke licence averaged 106,900 bopd during the second quarter, of which Peshkabir contributed 62,300 bopd and Tawke 44,600 bopd, the latter representing the first quarterly production increase […]
Dana Gas PJSC has announced its financial results for the half year ended 30 June 2022. In the first six months of the year, the Company generated a net profit of AED 407 million ($111mm) or 5.8 fils per share, an 82% increase compared to an adjusted net profit (excluding reversal of impairment) of AED […]
By John Lee. More than 500 Americans have filed an Anti-Terrorism Act complaint against Swedish telecom company Ericsson for allegedly aiding campaigns of terrorism in Iraq, Afghanistan, and Syria conducted by al-Qaeda, al-Qaeda-in-Iraq, and Islamic State from 2004 through 2022. According to a statement for the legal firm Sparacino PLLC, Ericsson is accused of making […]
By John Lee. Saudi Arabia-based Jazeera Paints has opened its sixth showroom in Iraq. The new showroom is in Ranya [Rania], in the Northeast of the Kurdistan Region, which has seen significant economic and industrial development in recent years. It is close to other towns such as Qaladze, Dukan, Chwar Qwrna, Sangasar, and Hajiawa, and […]
By John Lee. The Al-Badaa channel, which carries water to Basra Governorate has been sabotaged. According to a statement from the Government of Iraq, a group of "violators of the law" broke the banks of the channel at km 9. The staff of the Ministry of Water Resources were able to repair the canal, and […]
By John Lee. The First Vice President of the Iraqi National Oil Company (INOC), Hamid Younis, has said that oil production in Iraq can be increased to 5-to-8 million barrels per day (bpd) "during the coming years." He is quoted in a statement from the Iraqi Ministry of Oil, following a meeting that he chaired […]
On 6th August, IoT Kids held the closing ceremony of The Schools Championship for Coding and Innovation at Zain's headquarter in Baghdad. IoT Kids organized the championship in cooperation with The Iraqi Ministry of Education and the sponsorship of Zain Iraq for telecommunication. The championship aims to encourage parents to invest in their children's creativity […]
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. "Sell in May and Go Away - in July !!!" The market, as measured by the Rabee Securities RSISX USD Index, was down 5.6% for the month, […]
