By John Lee. Moody's Investors Service has affirmed the Iraqi Government's long-term issuer and foreign currency senior unsecured ratings at Caa1, and maintained the stable outlook. It notes Iraq's exceptionally high reliance on oil, and "very weak institutions and governance", while adding that ongoing discussions with the IMF indicate a possibility of a supported adjustment […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th July 2021). Please click here to view a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD925 (-1.5%) / $812 (-1.5%) (weekly change) (+27.6% and +22.4% YTD change, respectively). The number of week traded […]
By John Lee. The Iraqi Council of Ministers held its regular session on Tuesday, chaired by Prime Minister Mustafa Al-Kadhimi. Regarding the housing crisis, the Prime Minister clarified that the government plans to distribute 550,000 plots of residential land to citizens in a first phase of allocation. He added: "Every Iraqi family has the right […]
By John Lee. Prime Minister Mustafa Al-Kadhimi chaired the regular session of the Iraqi cabinet on Tuesday. Addressing the ongoing crisis in electricity supply, the cabinet agreed to allocate 50 billion Iraqi dinars ($34 million) for emergency expenses and maintenance of the electricity infrastructure. This will be achieved by profitable Ministry of Oil companies lending […]
By John Lee. Both BP and Lukoil are reported to be considering quitting upstream oil operations in Iraq. Reuters quotes Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail, as making the comments during a parliamentary session last week. Last month, BP was said to be planning to spin off its Iraqi operations in Iraq into a separate […]
By John Lee. Washington DC-based law firm Arent Fox LLP has entered an agreement with the Kurdistan Regional Government (KRG) to provide legal advice on various issues including legal and regulatory matters in the United States. It will also advise on strengthening the KRG's alliance with the United States, tracking and monitoring legislation in Congress, […]
By John Lee. Australian citizen Robert Pether and his Egyptian colleague Khalid Radwan are reportedly still being held without charge in Iraq, following a contract dispute relating to the construction of the new Central Bank of Iraq (CBI) head office in Baghdad. The pair were detained in early April, having allegedly been tricked into traveling […]
By John Lee. The European Bank for Reconstruction and Development (EBRD) has confirmed its intention to expand its operations into Iraq. It concluded its 30th Annual Meeting this week with decisions on the Bank's future work on the green transition and towards expanding its activities. The Bank's shareholders "gave us a green light on the […]
By John Lee. Amentum Services Inc., Germantown, Maryland, was awarded a $10,708,728 modification (0003C4) to contract W52P1J-12-G-0028 for transportation logistics support services. Work will be performed in Kuwait and Iraq, with an estimated completion date of July 2, 2022. Amentum was created by the sale of AECOM's Management Services business to affiliates of Lindsay Goldberg […]
By John Lee. Dyncorp International LLC, Fort Worth, Texas, was awarded a $20,606,486 modification (P00152) to contract W58RGZ-19-C-0025 for worldwide aviation maintenance. Work will be performed in Fort Worth, Texas; and Iraq, with an estimated completion date of Nov. 30, 2021. (Source: US Dept of Defense)
By John Lee. US-based Textron Aviation Defense has been awarded a $7,605,208 firm-fixed price contract with cost-plus-fixed-fee and cost-reimbursable contract line item numbers for support and sustainment of the Iraq Peace Dragon Program. This contract provides support of the field service representatives, program management, core/field engineering and repair-and-return. Work will be performed in Wichita, Kansas, […]
By John Lee. Local news sources in Iraq claim the major power cut in Iraq on Friday was caused by sabotage of the power transmission lines. Meanwhile, Prime Minister Mustafa Al-Kadhim ordered the dismissal of the Director General of the General Company for Electricity Transmission in the Middle Euphrates region for "neglecting to perform his […]
