German Support for new Glass Factory in Najaf
By John Lee. Iraqi Prime Minister Mohammed Shia' Al Sudani inaugurated the second specialized workshop to support the private industrial construction sector. During the event, a cooperation agreement was signed between the Trade Bank of Iraq (TBI) and the German Export Credit Agency to finance private sector development projects under the government's sovereign guarantee initiative. […]
Cabinet Approves Electricity Prices for Silver Crescent
By John Lee. At its most recent meeting this week, the Iraqi Cabinet has approved the purchase prices for electricity bought from Silver Crescent: Energy purchase tariff on gas: $24.94 per megawatt hour (MWh); Energy purchase tariff on heavy fuel: $32.37 per megawatt hour (MWh); Combined cycle energy purchase tariff: $36.81 per megawatt hour (MWh), […]
Iraq Cracks Down on Unlicensed Factories, Counterfeit Products
By John Lee. The Iraqi Cabinet has directed the Central Organization for Standardization and Quality Control (COSQC), in coordination with the Directorate for Combating Organized Crime, to monitor all unlicensed factories and take legal action against their owners. Owners of shops selling products from these unlicensed factories will also face legal consequences, and the counterfeit […]
US expects Action following Attacks on Franchises
By John Lee. The United States has said that it expects and wants the Iraqi government to take appropriate measures to respond to recent attacks on American and British businesses in Iraq. This follows attacks in recent days on Kentucky Fried Chicken (KFC), Chili House, Lee's restaurant, the Cambridge Institute, and heavy equipment company Caterpillar. […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 6th June 2024). 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 1,757.4 -1.2% 13.1% RSISX USD Index […]
Land Acquired for $1.5bn Baghdad Golf Development
By John Lee. Arabian Business reports that Abu Dhabi-based property developer Eagle Hills has bought land in Baghdad for a $1.5-billion golf real estate project. It says the Baghdad Golf Course and Spa will feature a world-class golf course, high-end residential neighbourhoods, a five-star hotel, and an exclusive resort club. Eagle Hills was founded by […]
UN sees Progress in Iraq's Anti-Corruption Efforts, Lists Recommendations
By John Lee. The United Nations Development Programme (UNDP) has issued a new 60-page report on Iraq's efforts to tackle corruption. The Trial Monitoring (TM) programme focuses on high-profile corruption cases tried before the Central Anti-Corruption Criminal Court (CACC) as the primary judicial mechanism for reviewing cases of Grand Corruption across the region of Federal […]
AMEA Power to pitch for 500-MW Solar Project in Iraq
By John Lee. The Iraqi Council of Ministers has authorised the Ministry of Electricity to extend an invitation (the "sole offer") to the Emirati company AMEA Power to present its proposal to build a 500-MW solar power plant, with the option to add batteries. This move allows the Ministry of Electricity to proceed with the necessary […]
Iraq "Seeks $2.5bn Missile System" from South Korea
By John Lee. Iraqi news agency Basnews has reported that Iraq "urgently requested" eight missile defense systems from South Korea, valued at approximately $2.5 billion. It says the systems are the "M-SAM-II", or "Cheongung II", which it describes as a robust defense system against aircraft, cruise missiles, and ballistic missiles. More here. (Source: Basnews)
"Excessive Violence" against Labour Protestors in Iraq
By John Lee. Iraqi security forces have allegedly escalated their violence against contract workers at the South Refineries Company (SRC), who were said to have been peacefully protesting for permanent contracts. In a joint statement, IndustriALL affiliates, the General Federation of Oil, Gas and Petrochemical Unions in Iraq (GFOGPUI), the General Union of Oil Workers, […]
UN Identifies Iraq Investment Opportunities
By John Lee. The United Nations Development Programme (UNDP) has issued a new 49-page report on investment opportunities aligned with Iraq's Sustainable Development Goals (SDGs) in target markets and sectors. The report identifies investment opportunities in the following areas: Food Processing Mid-tech Greenhouses Specialty Dairy Products EdTech Platforms Low-fee Private Schools Education Infrastructure Utility-scale Solar […]
French Firm in running for Iraqi-Jordanian Joint Economic City
By John Lee. Iraq's Minister of Industry and Minerals, Dr. Khaled Battal Al-Najm, discussed cooperation mechanisms with a French company that submitted a proposal for a joint economic city [free zone] between Iraq and Jordan. The discussion was based on inquiries and comments from the Iraqi-Jordanian Company for Industry, which is responsible for reviewing the […]