By John Lee. The Iraqi Supreme Court has reportedly ratified the results of October's parliamentary election. Pro-Iranian groups had challenged the result, which was a victory for Moqtada al-Sadr, who opposes influence from both Iran and the US. The court's decision means that negotiations can now officially begin on the formation of a new government. […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 27th December 2021). Note: ISX will be closed during Dec. 28, 2021 - Dec. 30, 2021 due to the end-of-year closing operations. The next trading session will be held on Jan. 2, 2022. Please click here to view a table of listed companies […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for November of 98,192,317 barrels, giving an average for the month of 3.273 million barrels per day (bpd), up from the 3.120 million bpd exported in October. The exports from the oilfields in central and southern Iraq amounted to approximately 95,860,149 barrels; while […]
By John Lee. Iraq's General Customs Authority has announced the reopening of the Safwan/Abdali border crossing between Iraq and Kuwait. The crossing had previously been closed to help prevent the spread of COVID-19 (coronavirus). Designs were completed earlier this year for a redevelopment of the crossing. (Source: General Customs Authority)
By John Lee. Genel Energy has announced the appointment of Yetik Mert (pictured) as an Independent Non-Executive Director, with immediate effect. Yetik has almost 40 years' technical, commercial, business development, and general management experience, including holding executive and non-executive Directorship roles across the energy utility and industrial sectors in MENA, CEE and the USA. Yetik […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 23th December 2021). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD908 (+1.2%) / $796 (+1.4%) (weekly change) (+25.2% and +20.1% YTD change, respectively). The number of week traded […]
Al Majal Signs a Partnership Agreement with Iraq Drilling Company (IDC) Al Majal has signed a three-year partnership agreement with Iraq Drilling Company (IDC). The agreement aims to develop IDC's technical teams and to qualify its specialized maintenance workshops in accordance with international standards. In an online statement published by IDC, the company said that […]
A message from the Iraqi Children Foundation (ICF): Dear friends of Iraqi children, Need a holiday gift idea for family, friends, employees? Need to increase your year-end tax-deductible donations? We can help! Make a gift in honor of someone special, and we will send you our two beautiful digital ICF Christmas cards, which you can share […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. IEITI Annual Reports Continue but Changes in Form, Quality and Substance are Crucial and Needed Iraq Extractive Industry Transparency Initiative (IEITI) issued its 2018 annual report and, currently, is processing its combined […]
By John Lee. The Ministry of Finance has directed the Public Debt Department, in cooperation with the Central Bank of Iraq (CBI) to launch a second issue of construction bonds, which will be tradable on the stock market. The bonds, also know as a "binaa bonds", will be available for trading for a period of […]
By John Lee. The Iraqi Cabinet has approved the Ministry of Electricity entering into a the contract for the construction of two solar energy projects in Karbala (300 megawatts) and Alexandria/Iskandariya (225 megawatts). The Ministry of Oil had previously announced the project in October, involving a consortium of companies led by the Norwegian Scatec, whose […]
By John Lee. The Iraqi Drilling Company (IDC) has started drilling a well "Ammara 19" at Missan Oil Company (MOC)'s Amara field, within the Mishrif reservoir. IDC's Director General, Bassim Abdul Kareem, said the drilling operations were carried out using the 2000-HP drilling rig "IDC 23". The planned depth of the well is 3,290 meters. […]
