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.

Please click here to download the latest report free of charge.

For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at daniel.matthews@garda.com

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.

Can Iraq get its water wheels on UNESCO World Heritage List?

Iraq has been working for the last three months to rehabilitate its historical norias in Hit, a city located in western Iraq on the banks of the upper Euphrates River.

The Iraqi government aims to inscribe these water wheels, which played an important role in the irrigation of the land for centuries, on UNESCO’s World Heritage List.

Click here to read the full story.

Re:Coded is launching its first boot camp in Baghdad.

If you want to learn how to design and code websites or web apps, don’t miss it!

The bootcamp duration is four and a half months and the application deadline is July 20th, 2019

You will get to learn how to use HTML, CSS and JavaScript to write professional pages.

Limited scholarships are available. Apply now!

Apply Here!

 

وأخيرا في #بغداد!

Re:Coded ستطلق اول برنامج تدريبي في بغداد

اذا تريد تتعلم شون تصمم وتبرمج مواقع الويب او تطبيقات الويب.. لتفوت الفرصة

البرنامج مدته اربع شهور ونص واخر موعد للتقديم هو 20 تموز / يوليو 2019

بالبرنامج راح تتعلم استخدام لغات الـ HTML, CSS & JavaScript لتصميم صفحات احترافية

المقاعد محدودة، سجل الان على الرابط:

Apply Here

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 18th July 2019).

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

The RSISX index ended the week at IQD646 (-0.1%) / $695 (-0.1%) (weekly change) (-2.0% and -2.1% YTD change, respectively). The number of week traded shares was 2.2 bn and the weekly trading volume was IQD1.3 bn ($1.1 mn).

ISX Company Announcements

  • ISX will suspend trading of AL-Nukhba for General Construction (SNUC) starting Jul. 30, 2019 due to the AGM that will be held on Aug. 4, 2019 to discuss and approve 2018 annual financial results.
  • Original shares of Iraqi for Seed Production (AISP) resumed trading on Jul. 18, 2019 after discussing and approving 2018 annual financial results, increasing the capital from IQD10.50 bn to IQD13.65 bn through 30% bonus issue and deciding to distribute 20% cash dividend (IQD0.20 dividend per share, 3.1% dividend yield).
  • Mamoura Real-estate Investment (SMRI) resumed trading on Jul. 18, 2019 after discussing and approving 2018 annual financial results and deciding to distribute 5% cash dividend (IQD0.05 dividend per share, 2.8% dividend yield).
  • International Development Bank for Investment (BIDB) resumed trading on Jul. 18, 2019 after discussing and approving 2018 annual financial results.
  • Original shares of Al-Ameen Insurance (NAME) resumed trading on Jul. 16, 2019 after discussing and approving 2018 annual financial results and increasing the capital from IQD3.8 bn to IQD5.0 bn through 30.9% rights issue. The company closed the day at IQD0.37 per share, down by 27.5%.
  • Palestine Hotel (HPAL) resumed trading on Jul. 17, 2019 after discussing and approving 2017 annual financial results.
  • ISX suspended trading Bank of Baghdad (BBOB) starting on Jul. 16, 2019 due to the AGM that will be held on Jul. 20, 2019 to discuss and approve 2018 annual financial results.
  • Gulf Insurance and Reinsurance (NGIR) resumed trading on Jul. 15, 2019 due to fulfilling ISC’s request to provide 3M19 financial results.
  • ISX suspended trading of Al-Mosul for Funfairs (SMOF) starting Jul. 15, 2019 due to the AGM that would be held on Jul. 18, 2019 to discuss and approve 2018 annual financial results.
  • Credit Bank of Iraq (BROI) decided to distribute 2% cash dividend (IQD0.02 cash dividend per share, 5.1% dividend yield) in its AGM that was held on Jul. 13, 2019.

By John Lee.

Iraq’s National Investment Commission (NIC) has reportedly approved plans for a British company to develop a 4,000 acre site near Baghdad International Airport (BIAP).

According to Thomson Reuters, the NIC is negotiating with Iraqi companies to develop the remaining 16,000 acres of the land that cabinet approved for development in May.

More here.

(Source: Thomson Reuters)

NIC Chairman: Iraq is an Attractive Environment for Power Sector

National Investment Commission (NIC) Chairman, Dr. Sami Al-Araji assured, during a word he delivered in Powering Iraq Conference held in Baghdad July.10.19 that Iraq is an attractive environment for capitals in various economic sectors and at the top stands the power sector and that investment laws and regulations contained generous incentives that fertilize the land for the foreign companies to invest in the country.

The conference was attended by Ministers of Oil and electricity, Ministries and Government institutions representatives, Iraqi private sector representatives in addition to Ambassadors of a number of countries.

NIC Chairman stated that the Commission granted a number of investment licenses in power sector a head of which was Bismayah Power station executed by Mass Holding Company with a capacity of 3000 MW and work is proceeding to add 1500 MW, as it is currently covering 60% of Baghdad need for electricity power, while other licenses were granted to implement power stations in the southern part of Iraq with an estimated total capacity of 4500 MW (some of them are achieved and others in their final completion stages).

He also added that NIC is keen to cooperate with other relative ministries and institutions to achieve self- sufficiency in power in all its types including employing the renewable energy to reach this goal. Dr. Sami also praised the role of the local and foreign private sector which contributed to motivating the investment wheel in various strategic and vital sectors like (Oil and Gas, Housing, Industry, Health, Agriculture, and higher education) disseminated all over Iraqi provinces in a way that provided new national income resources.

NIC Chairman invited the Government and the Parliament to issue the legislations that can contribute to implementing the five year and ten year plans laid to guarantee the substantial development, stressing the continuance in NIC program aiming at constructing strategic investment projects that serves the country like the housing project of Bismayah consisting of 100 thousand housing unit.

The conference works also witnessed speeches for Minister of Oil, Minister of Electricity, Representative of the Ministry of Industry and Minerals, Ambassadors of US and UK. the conference was attended by more than 200 businessmen from inside and outside Iraq during which presentations of Ministries of oil and Electricity were presented in the fields of energy and alt- energy and was closed by round tables meetings between the Public and private sectors.

(Source: NIC)

By Robbie Gramer, for Foreign Policy. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Pompeo Seeks to Make Baghdad Embassy Pullout Permanent, Officials Say

In May, Secretary of State Mike Pompeo ordered a partial evacuation of diplomats from the U.S. Embassy in Iraq amid escalating tensions with Iran.

Now, several State Department officials say they are being told the drawdown in embassy staff will effectively become permanent, a move that could leave the U.S. Embassy short-staffed to undertake important tasks like countering Iran on the diplomatic front—and in the short-term has marooned hundreds of diplomats in the Washington area without an embassy to go back to.

Click here to read the full story.

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

Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani presented his new Cabinet July 10, vowing to institute reforms and reinvigorate the semi-autonomous government in Erbil, Iraq.

Three main parties in Iraqi Kurdistan were able to reach an understanding on their ministerial nominations to finally form the new government: the Kurdistan Democratic Party (KDP), Patriotic Union of Kurdistan (PUK) and Gorran (Change) movement.

Parliament now has confirmed 21 ministers for the Cabinet, though the controversial post of the natural resources minister remains vacant.

Click here to read the full story.

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

Iran grants additional visas to Iraqis to boost its economy

In light of the US sanctions and the exit of foreign companies from Iran, Tehran is seeking to boost its income and hard currency by hosting the largest possible number of Iraqi tourists it can.

Iran’s economic charge d’affaires in Najaf, Arif Abbasi, said June 22, “The number of Iranian visas issued from Najaf will increase to 5,000 visas daily.

Click here to read the full story.

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

Slow progress is being made to rebuild the ruined city of Mosul in northern Iraq.

It is two years since the Iraqi army, with a United States-led coalition and Iran-backed Shia militias, drove ISIL fighters from the capital of their self-declared caliphate.

Reconstruction efforts are not being helped by the sanctions imposed by the US on Iraq’s ally Iran.

UN agencies estimate it may take tens of millions of dollars and 10 years just to remove mines and explosives.

Al Jazeera‘s Osama Bin Javaid reports: