By John Lee. A drone attack on Friday evening has killed four workers at Khor Mor gas field in Sulaymaniyah province. Press reports say the dead were Yemeni nationals. Electricity supplies have also been disrupted. A KRG statement said that initial information suggested the attacks come from "a nearby region within Iraq"; KRG Prime Minister Masrour Barzani urged the federal government to investigate and hold the perpetrators accountable. The field is operated by Pearl Petroleum, and joint venture between Dana Gas, Crescent Petroleum, OMV, MOL and RWEST. (Sources: AFP. KRG, Rudaw) The post Dron ..read more

From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. How Halbousi's ouster is reshaping Sunni politics in Iraq Longstanding conflicts over Iraq's current legislative agenda have re-emerged amid Sunni division over who will succeed former parliament speaker Mohammed Al-Halbousi (2018-23). The full article can be viewed here (registration required). The post How Halbousi's Ouster is Reshaping Sunni Politics first appeared on Iraq Business News ..read more

From the Iraq Britain Business Council (IBBC): The IBBC Agritech Committee hosted the Iraqi Agriculture Minister, H.E. Abbas Jebur Al Maliky [Dr. Abbas Jabber Al-Maliki] for a three-day introduction visit to British agricultural capabilities, UK ministers, shadow ministers and IBBC members. Led by Dr Amet Selman of AAA Holding, the Agritech committee chairman, and Mr Christophe Michels, IBBC MD, H.E. Maliky met Lord Johnson, investment minister of the DIT, and two Labour shadow minsters, Mr Wayne David MP MENA shadow minister and Mr Daniel Zeichner shadow minister of agriculture, food, and fis ..read more

By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani met with Jamie Burrows, CEO of Vertical Future, a company specializing in vertical farming technology, on the sidelines of the World Economic Forum (WEF) in Riyadh. The Prime Minister expressed his desire to collaborate with the global company to bring advanced agricultural technology to Iraq, which faces challenges such as climate change and significant water shortages leading to desertification. Al-Sudani noted agriculture's priority in the government's agenda and mentioned efforts to modernize farming and irrigation techniques, as we ..read more

By John Lee. Japan's Nissan Motor Corporation has appointed Al Sour as its official and registered distributor in Federal Iraq. According to a statement from Nissan, this strategic collaboration will commence with the establishment of several sales, service, and spare parts facilities across key cities, including Baghdad, Najaf, Mosul, and Zakho, as well as other cities. All Al Sour service center facilities will comprise the latest Nissan equipment, with certified technicians offering Nissan customers the best of customer experience in Federal Iraq. Thierry Sabbagh, Divisional Vice President ..read more

By John Lee. Turkiye's Tiryaki Agro has signed a goodwill agreement with the Iraq Development Fund to develop Iraqi agriculture. The agreement was signed in Baghdad by Mr. Mohammed Al-Najjar, Director of the Iraq Development Fund, and Mr. Ahmet Tiryakioğlu, Chairman of the Board of Directors of Tiryaki Agro. The ceremony took place with the participation of the Ministers of Trade and senior officials of both countries, as well as the Turkish and Iraqi Foreign Economic Relations Board delegations. According to the agreement, Tiryaki Agro will strengthen the agricultural sector and support food ..read more

By John Lee. Fitch Ratings has affirmed Trade Bank of Iraq's (TBI) Long-Term Issuer Default Rating (IDR) at 'CCC+', Short-Term IDR at 'C' and Government Support Rating (GSR) at 'ccc+'. Fitch has removed the Stable Outlook on TBI's Long-Term IDR, which was previously published in error. It says the rating reflects, "the absence of any major credit events or changes since the previous rating review." More here. (Source: Fitch Ratings) The post Fitch Rates Trade Bank of Iraq 'CCC+' first appeared on Iraq Business News ..read more

By John Lee. The Iraqi Ministry of Planning held a meeting with the German government to discuss development cooperation across various fields. The meeting, led by Dr. Saher Abdul Kadhim Mahdi, Director General of the International Cooperation Department, included the German Embassy's economic advisor and his delegation. The discussion covered development activities funded by Germany and upcoming development negotiations planned for July. The meeting also addressed the governmental work context and mechanisms for monitoring international commitments funded by Germany. (Source: Ministry of Plan ..read more

Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 25th April 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 1,857.0 5.1% 19.5% RSISX USD Index 1,825.9 5.1% 19.5% ISX Market Summary of This Week Trading Vol. (IQD mn)/d 8,482.4 # of Listed Companies on the ISX 103 Trading Vol. ($ mn)/d 6.4 # of Traded Companies 66 Traded Shares (mn)/d 8,285     # of Compa ..read more

By John Lee. The Arab-British Chamber of Commerce (ABCC) has signed a Memorandum of Understanding with Baghdad Chamber of Commerce with the aim of developing a strong partnership to better serve their respective members. In a statement, they said this new initiative will enable them to be more responsive to meeting the needs of their respective members by organising joint events, research, training and fostering social entrepreneurship. The MoU was signed in the Board room at the ABCC's Mayfair office by Mr Abdeslam El-Idrissi, ABCC Deputy CEO & Secretary General, and Mr Husam Jawad Al Kur ..read more