By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq Revenue Forecasting Model -- A Critical Assessment INTRODUCTION This review was prepared upon request from known international organization (XXX) regarding two documents prepared by a consultant (CCC) on Iraq Revenue Forecasting […]
The Central Bank of the UAE (CBUAE) and the Central Bank of Iraq (CBI) have signed a Memorandum of Understanding (MoU) on 12th December, to enhance cooperation on banking supervision matters. The MoU covers three main areas, including control and supervisory issues, the exchange of supervisory information, and strengthening bilateral co-operation on training workers and […]
By John Lee. The Kurdistan Regional Government (KRG) has responded to the statement on Friday by Genel Energy regarding the production-sharing contracts (PSCs) at Bina Bawi and Miran. The KRG strongly denies that it is in repudiatory breach of the PSCs, and denies that Genel is entitled to any compensation. It adds that it will […]
By John Lee. Abeer Alshimal Company For General Contracting Ltd., which has offices in Erbil, Dohuk and Mosul, has won a contract with UNAMI for the construction of "new infrastructure with new accommodation, office, welfare buildings at UNAMI Tamimi camp inside the Green Zone in Baghdad." The contract is valued at $1,567,215 and the end […]
By John Lee. Ziad Akle, Unaoil's territory manager for Iraq, has had his conviction for bribery quashed by the UK's Court of Appeal today (Friday). He had been sentenced to five years' imprisonment in July 2020 having been found guilty of paying over $500,000 in bribes to secure a $55-million contract to supply offshore mooring […]
Shares in Genel Energy opened down more than five percent on Friday morning, before recovering some ground, after the company said it will claim compensation from the Kurdistan Regional Government (KRG). It says the claims, which relate to KRG's intention to terminate the Bina Bawi and Miran production sharing contracts (PSCs) are "substantial", and will […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th December 2021). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD904 (+3.3%) / $791 (+3.3%) (weekly change) (+24.6% and +19.3% YTD change, respectively). The number of week traded […]
Network of Iraqi Alumni from UK Universities Conference 2nd Dec 2021, The Station Conference Hall, Baghdad A special occasion was witnessed on the morning of 2nd December, 2021, by the official launch of the Network of Iraqi Alumni from UK Universities, at a conference held in Baghdad in the presence of government and academic figures […]
By John Lee. Ummet Al Salam Co. Ltd. for General Trading & Contracting has won a new contract with the United Nations Office for Project Services (UNOPS): Construction of prefabricated units and installation of generators at the Signals School in Baghdad Governorate. Contract worth $860,726. (Source: UNGM)
By John Lee. General Dynamics Land Systems Inc., Sterling Heights, Michigan, has been awarded a $15,249,189 modification (P00003) to contract W56HZV-21-C-0072 for logistics support services for M1A1SA Abrams tanks and M88A1/A2 recovery vehicles. Work will be performed at Camp Taji, Iraq, with an estimated completion date of Dec. 31, 2022. (Source: US Dept of Defense)
One of the most advanced water pumping facilities in Iraq has been constructed at the Rumaila oilfield to help boost oil production and support the field's long-term strategy. Cluster Pump Station Six (CPS-6) is the first CPS facility to be built at Rumaila for around 40 years. It is also the first CPS constructed by […]
By John Lee. Jibal Al-Madina Company for General Contracts Ltd. has won a contract with the United Nations Secretariat for the construction of a central water feature in al-Yarmouk Park, Mosul. The contract is valued at $227,492. (Source: UNGM)
