By John Lee. In a move to enhance collaboration and knowledge sharing, the Iraqi Private Banks League (IPBL) and the Jordanian Association of Banks have signed a Memorandum of Understanding (MOU). The agreement focuses on areas such as training, consultations, and facilitating the operations of member banks. This partnership aims to strengthen ties between Iraq […]
By John Lee. State-run Iraqi News Agency (INA) has reported that the management of the West Qurna 1 oil field in northern Basra has announced a plan to increase the capacity of the seventh isolation station to 320,000 barrels per day (bpd) by 2025. The isolation station began production in 1998 at a rate of […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the drilling of the EBSH-54 oil well at the East Baghdad field. The well was drilled to a depth of 3,636 meters, as part of a contract with EBS Petroleum to drill 27 oil wells at the field in collaboration with China Oilfield Services […]
By John Lee. The Central Bank of Iraq (CBI) has clarified that, from 1st January 2024, it will still be possible to withdraw dollars from a dollar account at an Iraqi bank. This contradicts recent media reports which suggested that all dollar withdrawals would be blocked from this date. In a statement, the CBI said: […]
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. Private Sector Loan Growth to Fuel Economic Recovery The market, as measured by the Rabee Securities RSISX USD Index, was up 8.4% in September, and up 79.4% […]
By John Lee. According to state-run Iraqi News Agency (INA), Iraq's Ambassador to Ankara announced yesterday (Thursday) that Turkey has agreed to resume oil exports via the Iraq Turkey Pipeline (ITP). It quotes Majid Al-Lajmawi as saying, "Turkish side agreed to immediately resume oil exports from the Iraqi-Turkish oil pipeline." This follows a statement to […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th October 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,424.9 0.8% 56.5% RSISX USD Index 1,401.1 […]
By John Lee. Dr. Qahtan Taha Khalf, the Ambassador of the Republic of Iraq in Moscow, met with Alexey Repik, the President of Business Russia, on Tuesday. Business Russia describes itself as "an All-Russia Public Organization which represents the interests of private non-resource businesses - local industry leaders." During the meeting, they discussed ways to […]
By John Lee. In its 40th regular session, chaired by Prime Minister Mohammed Shia Al-Sudani, the Iraqi Cabinet agreed to increase the capital of the Agricultural Cooperative Bank by nearly 30 percent. The increase, totaling IQD 29,476,500,000 [$22.6 million], will be added to the bank's current capital of IQD 100,600,000,000. In a statement, the Media […]
By Julianne Geiger for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Oil Tensions Mount As Iraq Contradicts Turkey's Export Claims While Turkey said on Monday that Iraqi oil exports would resume this week through a stalled oil pipeline, Iraq is saying […]
By John Lee. The industry group representing international oil companies (IOCs) in Iraqi Kurdistan has said that its member companies won't be able to produce oil for pipeline exports until there is clarity on how IOCs will be paid for past and future oil sales, as they are currently owed nearly $1 billion in unpaid […]
By John Lee. Turkey's Energy Minister has said that the Iraq-Turkey pipeline (ITP), which has been out of operation since a court ruling in March, will be re-started this week. Alparslan Bayraktar confirmed on X (formerly Twitter) on Monday: "The oil pipeline, which was damaged in the devastating earthquake in February and the subsequent flood, […]
