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 across the country.
The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
How US-Iran tensions could disrupt Iraq’s fragile peace
Tensions between the United States and Iran are escalating rapidly, particularly since U.S. warships were dispatched in response to reported threats against U.S. forces in Iraq from Iran and its proxies.
The U.S. has withdrawn all non-emergency embassy staff from Iraq and, on Monday, a mortar attack by Iran’s proxies in Baghdad, striking in the vicinity of the U.S. embassy, raised the prospects of a conflict on Iraqi soil even further.
The RSISX index ended the week at IQD640 (+3.0%) / $689 (+3.0%) (weekly change) (-2.9% and -2.9% YTD change, respectively). The number of week traded shares was 9.4 bn and the weekly trading volume was IQD3.2 bn ($2.6 mn).
ISX Company Announcements
ISX will suspend trading of Al-Khatem Telecoms (TZNI) starting May. 27, 2019 due to the AGM* that will be held on May. 30, 2019 to discuss and approve 2017 and 2018 annual financial reports.
ISX will suspend trading of Al-Wiaam for Financial Investment (VWIF) starting May. 27, 2019 due to the AGM* that will be held on May. 30, 2019 to discuss and approve 2017 annual financial report.
National Household Furniture Industry (IHFI) will resume trading on May. 26, 2019 due to disclosing its 2018 annual financial results. The opening price will be IQD0.90 with +/-50% change.
AL-Sadeer Hotel (HSAD) completed the legal procedures to increase capital from IQD1.239 bn to IQD1.735 bn through 40% rights issue.
Region Trade Bank for Investment and Finance (BRTB) completed the procedures of increasing the bank’s original and alternative members from 5 to 7 members.
New shares of Dar Al-Salam for Insurance (NDSA) from the capital increase to IQD7.0 bn through 40% rights issue resumed trading on May. 22, 2019.
Iraqi for Seed Production (AISP) resumed trading on May. 21, 2019 due to disclosing 2018 annual financial results.
Procedures of Al-Bilad Islamic Bank for Investment & Finance (BLAD) have been completed to change the bank’s name to Al-Ataa Islamic Bank for Investment & Finance.
According to the Board of Insurance, Ahliya for Insurance (NAHF) resumed trading on May. 19, 2019.