Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th September 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD620 (-0.3%) / $667 (-0.3%) (weekly change) (-6.0% and -6.1% YTD change, respectively). The number of week traded […]
By John Lee. Iraq's Deputy Foreign Minister Muayad Salih has said that he expects Russian companies to increase their investment in Iraq. Tass quotes him as saying that a Russian company is starting to develop of fields in the area of the Ramadi city, adding: "Hopefully investments there will top $45 billion by 2030." Meanwhile, […]
By John Lee. Iraq's Minister for Electricity has said Iraq is looking to finance a $3 billion upgrade of its power transmission and distribution network. The National quotes Minister Luay Al Khateeb as saying: “We do have a fast track plan for $3 billion to upgrade the distribution and transmission of which $2bn is for […]
Gazprom Neft subsidiary Gazpromneft-Badra has begun shipping granulated sulphur from its Badra oilfield in Iraq — the unique gas infrastructure installed by the enterprise here having made it possible not just to diversify production, but also increase associated petroleum gas (APG) utilisation to 98 percent. The pilot consignment, delivered by order of Iraqi client “Ard […]
By John Lee. The Iraqi Drilling Company (IDC) has signed a contract with the Dhi Qar Oil Company to drill 20 wells at Nasiriyah oil field. Fayyad Hassan Nehmeh, Undersecretary for Extraction Affairs, said the new wells will increase the field's oil production by 40,000 bpd, in addition to the investment of gas associated with […]
By John Lee. Iraq's Cabinet of Ministers has approved a loan agreement between the Federal Ministry of Finance, Standard Chartered Bank and the German Deutsche Bank for the purpose of financing the construction of 13 secondary substations (132) kV, and the supply of 35 high voltage transformers with the German company, Siemens, for the Ministry […]
Gulf Keystone Petroleum (GKP), a leading independent operator and producer in the Kurdistan Region of Iraq ("Kurdistan" or "Kurdistan Region"), has announced its results for the half year ended 30 June 2019. Highlights to 30 June 2019 and post reporting period Operational Average production during August was 39,269 bopd, reflecting the positive results from the […]
By John Lee. Oil minister Thamer al-Ghadhban (pictured) has said Iraq will reduce oil production from October, in the hope of achieving stability in the world oil market. He added that talks with Iraqi Kurdistan on coordinating the export of oil from the two regions were in "advanced stages". (Source: Iraqi Ministry of Oil)
The Khosravi border crossing between Iran and Iraq reopened on Friday, more than six years after a terrorist attack led to its closure. In a ceremony on Friday, Iranian Interior Minister Abdolreza Rahmani Fazli and his Iraqi counterpart Yassin Al Yasiri reopened the Khosravi border crossing. The border crossing had been closed in 2013 in […]
Iraqi Defence Minister Najah Al-Shammari has issued an order on Thursday to refer several officers and commanders to military courts on corruption charges. The Ministry of Defence did not name the officers or specify their ranks. Last year, the Iraqi Commission of Integrity uncovered more than 2,000 warrants for corruption in the country in 2017, issued against […]
A three-day workshop has concluded in Baghdad, which considered ways how to ensure the meaningful engagement of Iraqi women in elections. The workshop on gender-responsive electoral processes, jointly organized by the Independent High Elections Commissions (IHEC) and UNAMI in collaboration with UNDP, was held within the context of UNAMI’s mandate to assist and advise IHEC […]
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The market drifted lower in an Eid-holiday shortened month, as turnover declined substantially from July. However, life found its way back to the banks. For […]
