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Iraq Business News


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Quite a number of different Articles for your reading pleasure

 

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08-07-2019 20:23:05 PM

By John Lee. A Chinese company has reportedly signed a $1.39-billion construction contract in Iraq. According to Xinhua, China Construction Third Engineering Bureau will implement civil engineering projects and infrastructure in southern Iraq, including low-cost housing, education, medical centres, and facilities projects in governorates of Najaf, Karbala and Basra. (Source: Xinhua)...»

08-07-2019 20:22:55 PM

The Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Mr. Adil Abd Al-Mahdi. It approved: the recommendation of the Ministerial Energy Council on the service contract for Al-Mansuriyah oil field in Diyala province; a draft law on public-private partnership to strengthen cooperation between government agencies and the [...]...»

08-07-2019 20:22:43 PM

By John Lee. The United Nations has advertised new positions in Iraq: Budget & Programming Associate, WFP - World Food Programme Administration Officer, WFP - World Food Programme Administration Associate, WFP - World Food Programme Finance Associate, WFP - World Food Programme Grant Manager, Humanity and Inclusion (HI) Inclusive Livelihood Technical Advisor, Humanity and Inclusion [...]...»

08-07-2019 20:22:37 PM

By John Lee. The United Nations has advertised new positions in Iraqi Kurdistan: Business support Assistant, WFP - World Food Programme Administration Assistant, WFP - World Food Programme Programme Assistant, UNAMI - United Nations Assistance Mission for Iraq Project Assistant. UNAMI - United Nations Assistance Mission for Iraq Camp Management Officer, Danish Refugee Council (DRC) [...]...»

08-06-2019 20:53:50 PM

Genel Energy has announced its unaudited results for the six months ended 30 June 2019. Bill Higgs (pictured), Chief Executive of Genel, said: "These results demonstrate the continued success of our strategy -highly cash generative productionunderpins capital investment in growth opportunities that deliver rapid returns and enables a compelling cash return to shareholders through our [...]...»

08-06-2019 20:52:56 PM

By Huda Baroud for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Palestinian Prime Minister Mohammad Shtayyeh visited Iraq July 15 to discuss importing Iraqi fuel. This falls within the Palestinian Authority (PA)'s quest for gradual economic disengagement from Israel. Shtayyeh [...]...»

08-06-2019 20:51:47 PM

Chevening is the UK Government's global scholarship programme that offers future leaders the unique opportunity to study in the UK. These scholarships are awarded to outstanding professionals from all over the world to pursue a one-year master's degree in any subject at any UK university. Chevening provides fully-funded scholarships, leaving you free to focus on [...]...»

08-05-2019 20:53:10 PM

By John Lee. US-based Lockheed Martin Aeronautics has been awarded a $315,604,174 cost-plus-fixed-fee contract, for F-16 Contractor Logistics support Phase IV. This contract provides the contractor logistics support and establish a training detachment at Balad Air Base, Iraq, for the government of lraq. Work will be performed at Balad Air Base, Iraq; and Greenville, South [...]...»

08-05-2019 20:52:12 PM

Iraq's oil ministry said on Sunday it has no connection with an oil tanker seized by Iran's IRGC in the Persian Gulf for smuggling fuel, a report said. "The ministry does not export diesel to the international market," the Arab country's oil ministry said in a statement, Iraqi News Agency reported. Iraq's relevant authorities are [...]...»

08-05-2019 20:51:08 PM

Several members of Iraq's parliament and the province's deputy governor visited prisons near Mosul, Iraq, calling what they found a "humanitarian catastrophe." This happened two days after Human Rights Watch (HRW) released research detailing the horrible conditions of the prisons, which hold terrorism suspects. Immediately after our report release, local authorities claimed Human Rights Watch's [...]...»

08-05-2019 14:58:54 PM

Seedstars World, the largest seed-stage startup competition for emerging markets and fast-growing startup scenes, hosted its Iraq round this Friday, at The Station, where 8 selected startups were invited to present their companies in front of the local jury panel. The local winners were chosen for their innovative sustainable solutions on their different fields. The [...]...»

08-04-2019 20:52:04 PM

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq is planning to build a new oil pipeline to Jordan which it is banking on to revive revenue sources, after years of war and instability. In addition to expanding refineries and oil [...]...»

08-04-2019 20:51:15 PM

For generations of Iraqis, playing a meaningful role as an active member of civil society was fraught with risks. While many challenges remain, now, with the retreat of ISIL from Iraq, there has never been a better time to reassert the powerful role of civil society at the forefront of national development. Given the country's [...]...»

08-04-2019 03:47:44 AM

GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld's Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments [...]...»

08-03-2019 20:53:57 PM

By John Lee. Turkey and Iraq have agreed to set up a center in Baghdad to study and address water issues in the region. According to Daily Sabah, the Turkish Presidency's Special Representative to Iraq Veysel Eroğlu said that both countries have drafted an action plan to address water issues. They will also set up [...]...»

08-03-2019 20:52:10 PM

By John Lee. Pakistan-based Attock Cement (PSX: ACPL) has reportedly made investments in a cement grinding unit in Iraq. According to Business Recorder, the investment was made via a joint venture with the Iraq-based Al Geetan Commercial Agencies to form a subsidiary, a limited liability company. Attock's holds 60 percent of the company. The mill [...]...»

08-03-2019 20:51:08 PM

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's government wants to see a big increase in oil production. Oil and natural gas make up 90 percent of the country's revenue. But years of war and new environmental challenges are making [...]...»

08-02-2019 20:53:15 PM

By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for July of 110,548,738 barrels, giving an average for the month of 3.556 million barrels per day (bpd), up from the 3.520 million bpd exported in June. These exports from the oilfields in central and southern Iraq amounted to 106,500,015 barrels, while exports [...]...»

08-02-2019 20:52:36 PM

By John Lee. Moody's Investors Service has affirmed the Government of Iraq's long-term issuer and senior unsecured ratings at Caa1 and maintained the stable outlook. The decision to affirm Iraq's Caa1 ratings reflects credit challenges posed by very weak institutions and governance that in Moody's view, will continue to limit policy effectiveness, constrain the government's [...]...»

08-02-2019 20:51:58 PM

By John Lee. Iran's Securities and Exchange Organization (SEO) and the Iraqi Securities Commission (ISC) have signed a memorandum of understanding to create a joint investment fund. According to Iran's SEO, the agreement is "primarily focused on development of Islamic Financial instruments, enhancement of technical infrastructure and establishment of common investment funds through shared partnership [...]...»

08-02-2019 08:30:08 AM

The Ministry of Planning and the United Nations signed a Memorandum of Understanding (MoU) to establish the Iraq Reconstruction and Recovery Trust Fund in support of the Government's Recovery and Development Framework. Iraqi Minister of Planning Dr. Nouri Sabah al-Dulaimi signed on behalf of the Government of Iraq. Marta Ruedas, the Deputy Special Representative of [...]...»

08-02-2019 08:29:56 AM

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 1st August 2019). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD629 (-3.1%) / $676 (-3.1%) (weekly change) (-4.6% and -4.7% YTD change, respectively). The number of week traded [...]...»

08-01-2019 20:52:07 PM

By John Lee. Iraq and Kuwait have selected British energy advisory firm ERC Equipoise (ERCE) to prepare a study on the development of shared border oilfields. Ministry spokesman Assem Jihad said a contract would be concluded in the coming days with the company, which was chosen from a list of four candidates. ERCE is a [...]...»

08-01-2019 20:51:56 PM

The Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Mr. Adil Abd Al-Mahdi. It: voted to adopt the recommendation of the Ministerial Council on Energy on the Charter of Cooperation of Oil-Producing Countries which aims to promote stability in the global oil market; approved the allocation of [...]...»

07-31-2019 20:55:59 PM

By John Lee. The National Investment Commission (NIC) has announced the following investment opportunities: Pesticides plant - Al Furat State Company for Chemical and Pesticides Industries Chlorine plant - General Company for Mining Industries (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)...»

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Moddy’s affirm Iraq’s Caa1 rating.

 

The decision to affirm Iraq’s Caa1 ratings reflects credit challenges posed by very weak institutions and governance that in Moody’s view, will continue to limit policy effectiveness, constrain the government’s capacity to respond to external and domestic shocks and weigh on the — currently very weak – competitiveness of Iraq’s economy.

The Caa1 rating level also captures Iraq’s inherently very high level of political risk, in part related to political strife which will slow reform progress, hamper a strengthening of institutions and contribute to maintaining very high fiscal, external and economic vulnerability to potential declines in oil prices.

 

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