By John Lee. The National Bank of Iraq (NBI) has announced the introduction of three new banking systems. According to Izzidin Abusalameh, Group Chief Operating Officer of Capital Bank of Jordan (majority shareholder of NBI), trade finance operations will be enhanced with the help of software from UK-based Finastra. Additionally, both NBI and Capital Bank […]
By John Lee. Minister of Industry and Minerals, Dr. Khaled Batal Al-Najm, led the fourth coordination meeting on industrial affairs on Thursday, January 4th. The meeting, attended by Dr. Hamoudi Abbas, the Prime Minister's Industry Affairs Advisor, and representatives from various ministries and organizations, discussed key agenda items. The session began with a review of […]
From Asia Frontier Capital: Asia Frontier Capital Limited Announces that its AFC Iraq Fund is the Best-Performing Long-only Unleveraged Actively Managed Generalist Equity Fund in the World in 2023 Asia Frontier Capital Limited is pleased to announce that its AFC Iraq Fund - according to our research - is the best-performing, long-only, unleveraged, actively managed, generalist […]
By John Lee. In a meeting with the Chinese Ambassador to Iraq, Tsui Wei, and the economic trade advisor Shu Chun, Iraq's Acting Parliament Speaker, Mohsen Al-Mandalawi, discussed bilateral relations and ways to enhance cooperation across various sectors. Al-Mandalawi expressed full parliamentary support for facilitating the operations of reputable Chinese companies within Iraq. He called […]
By John Lee. The South Gas Company (SGC) and Halfaya Gas Company (HGC) have signed a contract for the development and processing of gas from the Nahr Bin Umar field, with a capacity of 150 million standard cubic feet per day. Deputy Prime Minister Hayan Abdul Ghani emphasized the project's contribution to the national economy […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has led the fifth meeting of the High Committee for Reconstruction and Investment, at which several housing projects were approved in various provinces. During the meeting, authorization was granted to the Ministry of Construction, Housing, and Municipalities to negotiate with the executing company for the Housing […]
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. "What Next after a Gangbuster Year ???" The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was up 6.2% and 97.2% […]
By John Lee. Baghdad Municipality has announced the building of six significant bridges in the capital, after completing the first phase of decongestion projects. Director-General of the Projects Department at the Baghdad Municipality, Qadhan Al-Waeli, told the state-run Iraqi News Agency (INA): "The Projects Department contributes on multiple fronts to alleviate congestion, opening new roads, […]
By John Lee. Iraq's Ministry of Finance announced on Friday the issuance of the third tranche of reconstruction bonds, named "Sukuk Al-Imar," totaling 2 trillion dinars [$1.5 billion]. This issuance is in accordance with Budget Law No. 13 for the fiscal years 2023-2024-2025, covering the period from December 31, 2023, to January 30, 2024. The […]
By John Lee. The Chairman of the National Investment Commission (NIC), Dr. Haider Muhammad Makkiya, has chaired a meeting to discuss the proposed amendments to the Investment Law No. (13) of 2006, with the aim of strengthening the economic sector in Iraq. In the presence of the general directors and advisors, he discussed set of […]
By John Lee. Ummet Al Salam Co. Ltd. For General Trading & Contracting has won a contract with the United Nations Office for Project Services (UNOPS) for the "Construction Contract for Small Works - Rehabilitation of one road in Ana district, Anbar." The contract is valued at $942,820. (Source: UNGM)
By Dana Taib Menmy for The New Arab. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq grants investment rights to PMF-linked company for one million palm trees in Samawah Desert Iraqi and US scholars have raised questions about the project's feasibility, accusing the […]
