The State Company for Military Industries (SCMI), under the authority of Ministry of Industry and Minerals, has invited investors to participate in the following investment opportunity: Transfer of Technology (TOT) and lndustry for hunting-rifle cartridges (Ga 12,16,20).

Interested companies can obtain all the documents and tender conditions from the commercial department in the head office of SCMI located in Baghdad, Al-Waziraya (beside oil institute) against 250000 IQD (not refundable).

The date of tender announcement is valid for the period of 30 days from the announcement date, in case of not submitting any offer through above period , the announcement is considered to be valid another 30 days until we received acceptable offer within one calendar year.

(Source: NIC)

The Ambassadors of Canada, Croatia, Czech Republic, Finland, France, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Romania, Spain, Sweden, the United Kingdom and the United States condemn the excessive and lethal use of force by Iraqi security forces and armed groups since 24 January against peaceful protestors, including in Baghdad, Nasiriya and Basra.

Despite assurances by the government, security forces and armed groups continue to use live fire in these locations, resulting in multiple deaths and injuries of civilians, while some protestors face intimidation and abduction.

The Ambassadors call on the government to respect freedoms of assembly and the right to protest peacefully, as enshrined in Iraq’s constitution, and on all protestors to maintain the peaceful nature of the movement.

The Ambassadors call on the government to guarantee credible investigations and accountability for the over 500 deaths and thousands of injuries of protesters since 1 October.

(Source: British Embassy)

By Laura Rozen for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

US Syria envoy: Any talks on troop withdrawal from Iraq must include all aid

US-led international operations in Iraq against the so-called Islamic State (IS) have been put on pause, as some 5,000 US forces in Iraq are primarily focused on protecting themselves in the wake of escalating violence between the US military and Iranian-backed groups that culminated in the Jan. 3 US drone strike on Iranian Maj. Gen. Qasem Soleimani and an Iraqi militia leader at Baghdad airport, a top US envoy said today.

But any discussions with the Iraqi government about a possible future withdrawal of US forces in Iraq would need to be broadened to encompass the entire scope of US-Iraq relations, including diplomatic and financial support, said James Jeffrey, the special envoy to the global coalition to defeat IS.

Click here to read the full story.

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 23rd January 2020).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD625 (-4.4%) / $663 (-4.4%) (weekly change) (-5.2% and -5.4% YTD change, respectively). The number of week traded shares was 7.7 bn and the weekly trading volume was IQD30.2 bn ($24.7 mn).

ISX Company Announcements

  • ISX will suspend trading of United Bank (BUND) starting Sunday Jan. 26, 2020 if the company fails to explain why the prices touched the lower limit on Jan. 22, 2020 and Jan. 23, 2020.
  • Al-Mosul for Funfairs (SMOF) will hold a GA on Feb. 12, 2020 to discuss the utilization of the external expansion land with an area of 36 acres in a long-term rental method for a period of 22 years. The company will not be suspended from trading.
  • The depositing procedures of Al Mustashar Islamic Bank for Investment & Finance (BMUI) started on Jan. 22, 2020. The company will start trading on Feb. 12, 2020.
  • The depositing procedures of Ibdaa Al-Sharq Al-Awsat General Contracting & Investment (SIBD) started on Jan. 19, 2020. The company will start trading on Feb. 9, 2020.
  • ISX will suspend trading of International Islamic Bank (BINT) starting Jan. 28, 2020 due to the GA that will be held on Feb. 2, 2020 to discuss merging with Ur Islamic Bank. The bank will keep its name. BINT will also discuss to increase the capital from IQD100 bn to IQD250 bn through selling its shares to the Turkish Company “Bayt Al-Tamweel – House of Fund International Company” without having to put the shares for public subscription according to article 56/ forth.
  • Al Mustashar Islamic Bank for Investment & Finance (BMUI) completed the procedures of its capital increase from IQD100 bn to IQD150 bn, and will start trading after depositing and activating 5% of the listed shares or after 21 days of depositing the company’s shares.
  • ISX suspended trading of Iraqi Middle East Investment Bank (BIME) starting Jan. 21, 2020 due to the AGM that will be held on Jan. 25, 2020 to discuss and approve 2017 and 2018 annual financial statements.
  • Al-Ameen Estate Investment (SAEI) will hold a GA on Feb. 3, 2020 to discuss the process of selling the company’s properties located in Baghdad. The company will not be suspended from trading.
  • Region Trade Bank for Investment and Finance (BRTB) resumed trading on Jan. 19, 2020 due to fulfilling ISX request to provide its quarterly financial statements.
  • Al Taif Islamic Bank for Investment & Finance (BTIB) invited the community / people for the public subscription.
  • Cross transactions: 2.4 bn shares of Asiacell (TASC) on Jan. 21, 2020, which represents 0.8% of TASC’s capital.

By Amnesty International. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Protest death toll surges as security forces resume brutal repression

Chilling eyewitness testimonies and verified video analysis by Amnesty International confirm that security forces have resumed their campaign of deadly violence against largely peaceful protesters in Baghdad and cities in southern Iraq, the organization has warned.

The crackdown on renewed protests from 20-22 January saw at least 10 people killed in Baghdad, Basra, Karbala and Diyala, according to the Iraqi High Commission for Human Rights, while activists in Basra reported two additional deaths yesterday. Scores have been injured and arrested, with some subjected to torture and other ill-treatment in custody.

The organization’s Crisis Evidence Lab verified videos from several flashpoints in recent days, confirming live ammunition is once again being used against unarmed protesters, and the first use of deadly military-grade tear gas grenades observed since November.

More here.

(Source: Amnesty International)

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Iraq protests swell with youth angry at slow pace of reform

Protests escalated across Iraq’s capital Baghdad as demonstrators sealed off streets with burning tyres in outrage at the government’s slow pace of reform.

View on YouTube

By Amberin Zaman for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Iraqi Kurdistan president: ‘We are not scared of Iran, but we respect Iran’

The assassination of Iranian Maj. Gen. Qasem Soleimani of the Islamic Revolutionary Guard Corps (IRGC) in a Jan. 3 drone strike carried out by the United States sent shock waves throughout the region.

Those who argued that Tehran would take its time to retaliate proved wrong. On the night of Jan. 8, Iran launched more than a dozen missiles on Iraqi bases housing US forces. Several struck the Ain al-Assad base west of Baghdad.

Several others landed in an open field near an air base in Erbil, the capital of Iraqi Kurdistan. Nobody was killed. The attack was seen, however, as a clear message from Tehran about the potential punishment Iraqis would face if they pursue their relations with the United States.

Click here to read the full story.

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 16th January 2020).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD654 (-2.3%) / $694 (-0.9%) (weekly change) (-0.8% and -1.0% YTD change, respectively). The number of week traded shares was 5.5 bn and the weekly trading volume was IQD6.3 bn ($5.2 mn).

ISX Company Announcements

  • Al Mustashar Islamic Bank for Investment & Finance (BMUI) with a capital of IQD100 bn, will start trading after depositing and activating 5% of the listed shares or after 21 days of depositing the company’s shares.
  • Ibdaa Al-Sharq Al-Awsat General Contracting & Investment (SIBD) with a capital of IQD3 bn, will start trading after depositing and activating 5% of the listed shares or after 21 days of depositing the company’s shares.
  • Region Trade Bank for Investment and Finance (BRTB) will resume trading on Jan. 19, 2020 due to fulfilling ISX request to provide its quarterly financial statements.
  • ISX requested Tourist Village of Mosul dam (HTVM) to provide its AGM minutes for its meeting held on Jan. 12, 2020.
  • Middle East Producing & Marketing – Fish (AMEF) resumed trading on Jan. 16, 2020 due to fulfilling ISX request to provide its annual and quarterly financial statements.
  • New shares of Asia Al Iraq Islamic Bank for Investment (BAIB) from the capital increase to IQD150 bn through 50% rights issue started trading on Jan. 15, 2020.
  • Al-Ameen Estate Investment (SAEI) invited its shareholders to receive their 2018 cash dividend starting Jan. 19. The company will distribute 3% (IQD0.03 dividend per share, 4% dividend yield).
  • ISX suspended trading of the following companies starting Jan. 12, 2020 due to not disclosing their 3M19 financial statements: BDSI, BRTB, HASH, IELI, IICM, IMCI, IMCM, IMPI, ITLI, MTNI, SBAG and VKHF.

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Foreign troops’ future in Iraq uncertain as clashes continue

For the security of its personnel, NATO has temporarily suspended its training activities in Iraq, given the recent violence there. Iraqis seem divided over what that will mean for their safety.

The United States on Jan. 3 assassinated Iranian Quds Force commander Qasem Soleimani and the deputy head of Iraq’s Popular Mobilization Units, Abu Mahdi al-Muhandis, in a drone attack near the Baghdad airport.

Iran retaliated by firing missiles at military bases in Iraq where US troops are stationed. There are also mass protests taking place in Iran and Iraq.

Click here to read the full article.

The Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Adil Abd Al-Mahdi.

The meeting was also attended by provincial governors.

At the start of the meeting, the Prime Minister delivered remarks about the situation in Iraq and the region.

The Prime Minister affirmed that Iraq is strong and capable of overcoming the difficult challenges facing it and reiterated the determination to continue the fight against Daesh.

The Cabinet then received briefings from the provincial governors attending the meeting about public services and infrastructure projects in their provinces.

They also presented the Cabinet with details about ongoing efforts to support the safe and dignified return of IDPs to their home.

The Cabinet agreed several measures to support local authorities to improve the delivery of key services including health, education and housing.

The Cabinet approved administrate, legal and financial instruments to support the housing sector in several provinces, as well as measures to support the government’s land-distribution scheme which aims to support those on low-income to have a decent home.

(Source: Iraqi Govt)