Basrah Museum Opens New Sumer, Assyria And Babylonia Galleries

The official opening of three new galleries in the Basrah Museum on March 19th marks the completion of a project to refurbish all major exhibition space at the complex.

It is a further important milestone in the creation of a major hub for the protection and celebration of the rich cultural heritage of Southern Iraq.

The Sumer, Assyrian and Babylon Galleries will be opened by the end of March and will showcase objects tracing the history of Iraq from c. 3000 BCE to 550 BCE, including statues, cylinder seals, tablets, jewellery, statues, glassware and pottery from many eras from the Iraq Museum in Baghdad and from the Basrah Museum’s original collection. This is the first time that the majority of the exhibits have been on public display in Basrah.

The project to open the new galleries is led by the Director of Antiquities and Heritage of Basrah Qahtan Al Abeed and supported by UK-based charity Friends of Basrah Museum. It includes training and development programmes in labelling, visitor services and museum techniques for staff and volunteers, as well as the creation of an education room for school parties and other young visitors.

The opening will be a tribute to the efforts, dedication and scholarship of leading archaeologist and FOBM Trustee, Lamia Al Gailani Werr who died unexpectedly in Jordan in January this year. Lamia was an unstinting supporter of the Basrah Museum and shared her experience and wisdom generously with cultural heritage specialists in Basrah and Baghdad as the project evolved.

This latest phase of the project was financed by the Cultural Protection Fund, managed by the British Council. It follows the opening of the Museum’s first gallery in 2016. The Basrah Gallery is devoted to the cultural heritage of the city and its environs. It was funded principally by a major grant from UK oil and gas company BP.

A grant extension funding the final phase of the project has been awarded by the Cultural Protection Fund and will focus on the opening of a museum library at the complex for students and academics and members of the public. This phase is expected to be completed by the end of the year.

(Source: Friends of Basrah Museum)

Basrah Museum Opens New Sumer, Assyria And Babylonia Galleries

The official opening of three new galleries in the Basrah Museum on March 19th marks the completion of a project to refurbish all major exhibition space at the complex.

It is a further important milestone in the creation of a major hub for the protection and celebration of the rich cultural heritage of Southern Iraq.

The Sumer, Assyrian and Babylon Galleries will be opened by the end of March and will showcase objects tracing the history of Iraq from c. 3000 BCE to 550 BCE, including statues, cylinder seals, tablets, jewellery, statues, glassware and pottery from many eras from the Iraq Museum in Baghdad and from the Basrah Museum’s original collection. This is the first time that the majority of the exhibits have been on public display in Basrah.

The project to open the new galleries is led by the Director of Antiquities and Heritage of Basrah Qahtan Al Abeed and supported by UK-based charity Friends of Basrah Museum. It includes training and development programmes in labelling, visitor services and museum techniques for staff and volunteers, as well as the creation of an education room for school parties and other young visitors.

The opening will be a tribute to the efforts, dedication and scholarship of leading archaeologist and FOBM Trustee, Lamia Al Gailani Werr who died unexpectedly in Jordan in January this year. Lamia was an unstinting supporter of the Basrah Museum and shared her experience and wisdom generously with cultural heritage specialists in Basrah and Baghdad as the project evolved.

This latest phase of the project was financed by the Cultural Protection Fund, managed by the British Council. It follows the opening of the Museum’s first gallery in 2016. The Basrah Gallery is devoted to the cultural heritage of the city and its environs. It was funded principally by a major grant from UK oil and gas company BP.

A grant extension funding the final phase of the project has been awarded by the Cultural Protection Fund and will focus on the opening of a museum library at the complex for students and academics and members of the public. This phase is expected to be completed by the end of the year.

(Source: Friends of Basrah Museum)

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

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 14th March 2019).

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

The RSISX index ended the week at IQD604 (+1.6%) / $651 (+1.6%) (weekly change) (-8.4% YTD change). The number of weekly traded shares was 27.5 bn and the weekly trading volume was IQD10.8 bn ($9.0 mn).

ISX Company Announcements

  • According to the ISX announcement, the opening price of the IQD5.0 mn class bonds (CB125) will be IQD5,383,562 on Sunday (Mar. 17, 2019). [Table: 2.3]
  • ISX will suspend trading of Investment Bank of Iraq (BIBI) starting Mar. 26, 2019 due to the GA that will be held on Mar. 30, 2019 to elect 7 new original board members and 7 alternative members. The bank will resume trading on Mar. 31, 2019.
  • Ashour Hotel (HASH) will hold an AGM* on Mar. 17, 2019 to discuss and approve 2013 annual financial results. The company has been suspended from trading since Aug. 8, 2018 for not disclosing 2017 annual financial results.
  • United Bank (BUND) will resume trading on Mar. 17, 2019 by the CBI decision to remove the bank from its custody due to completing the procedure of electing new board members.
  • Al-Mansour Bank (BMNS) held its AGM* on Mar. 14, 2019. In the meeting, the bank decided to distribute 7% cash dividend (IQD0.07 dividend per share, 9.7% dividend yield).
  • Original shares of International Islamic Bank (BINT) resumed trading on Mar. 12, 2019 after approving to increase the capital from IQD100 bn to IQD250 bn through 150% rights issue.
  • ISX requested Union Bank of Iraq (BUOI) to provide its AGM* minutes which was held on Mar. 6, 2019.
  • Credit Bank of Iraq (BROI) resumed trading on Mar. 10, 2019 after discussing and approving 2017 annual financial results and deciding to distribute 2.5% cash dividend (IQD 0.025 dividend per share, 6.4% dividend yield).

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 14th March 2019).

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

The RSISX index ended the week at IQD604 (+1.6%) / $651 (+1.6%) (weekly change) (-8.4% YTD change). The number of weekly traded shares was 27.5 bn and the weekly trading volume was IQD10.8 bn ($9.0 mn).

ISX Company Announcements

  • According to the ISX announcement, the opening price of the IQD5.0 mn class bonds (CB125) will be IQD5,383,562 on Sunday (Mar. 17, 2019). [Table: 2.3]
  • ISX will suspend trading of Investment Bank of Iraq (BIBI) starting Mar. 26, 2019 due to the GA that will be held on Mar. 30, 2019 to elect 7 new original board members and 7 alternative members. The bank will resume trading on Mar. 31, 2019.
  • Ashour Hotel (HASH) will hold an AGM* on Mar. 17, 2019 to discuss and approve 2013 annual financial results. The company has been suspended from trading since Aug. 8, 2018 for not disclosing 2017 annual financial results.
  • United Bank (BUND) will resume trading on Mar. 17, 2019 by the CBI decision to remove the bank from its custody due to completing the procedure of electing new board members.
  • Al-Mansour Bank (BMNS) held its AGM* on Mar. 14, 2019. In the meeting, the bank decided to distribute 7% cash dividend (IQD0.07 dividend per share, 9.7% dividend yield).
  • Original shares of International Islamic Bank (BINT) resumed trading on Mar. 12, 2019 after approving to increase the capital from IQD100 bn to IQD250 bn through 150% rights issue.
  • ISX requested Union Bank of Iraq (BUOI) to provide its AGM* minutes which was held on Mar. 6, 2019.
  • Credit Bank of Iraq (BROI) resumed trading on Mar. 10, 2019 after discussing and approving 2017 annual financial results and deciding to distribute 2.5% cash dividend (IQD 0.025 dividend per share, 6.4% dividend yield).

By John Lee.

Jordan and Iraq have reportedly started studies to create a joint free industrial zone on their shared border.

A Jordanian government official told Xinhua that an Iraqi delegation visited Jordan this week to check the capacity of factories that will benefit from a decision by Iraq to exempt commodities — including plastics, pharmaceuticals, detergents, chemical materials and food products — from custom duties.

It is expected that the new free-zone will create allow Iraqi businesses to benefit from exemptions and advantages under free trade agreements that Jordan has signed with several countries.

It will also help to increase Jordanian exports to Iraq, which rose by 26.7 percent in 2018 to 465.9 million Jordanian dinars (3.9 million U.S. dollars).

(Source: Xinhua)

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

Iraqi officials stress need to boost Arab ties while balancing relations with Iran

The Iraqi city of Sulaimaniyah hosted the sixth-annual Sulaimaniyah Forum on March 6-7, where discussions focused on Iraq’s strategic significance in the region. During the forum, Iraqi officials and their Arab counterparts called for Iraq to re-embrace strong ties with its Arab neighbors and strike a balance in its ties with Iran.

This year’s forum was held under the motto “Iraq and Its Neighbors: Toward a New Regional Order.

Iraqi President Barham Salih (pictured) said on the first day of the forum that Iraq is striving to bring together different viewpoints in the region based on its depth of ties with Arabic and Gulf states, assuring that this will bring major economic developments to the country and help solve the security crisis. Iraq is capable of being an “arena for consensus and reconciliation among the countries of the region,” he noted.

Click here to read the full story.

The Iraq Britain Business Council (IBBC) has announced that Shire Oak International has become the latest organisation to join the Council.

Shire Oak International is the first organisation with a primary focus on Renewable Energy to join the IBBC.

Shire Oak International is a developer and financier of large-scale renewable energy projects in developing countries and emerging economies. Its core mission is to be a global pathfinder in devising, implementing and spreading renewable energy solutions to drive transformational change in the rate of adoption of renewable energy in the developing world.

In line with this mission – as of October 2018 – the company is advancing 3.7GW of renewable energy projects to be operational in the coming 3-5 years. Beyond this initial suite of projects, the company is validating a further potential 5-6GW to be operational by 2030, a total of over 9GW in 13-15 countries. While the projects and country portfolios are different in many ways, they face common challenges.

Shire Oak International aims to provide a suite of development and financing solutions to surmount these challenges in order to bend the emissions curve in globally important energy markets. Innovative blended finance structures, which combine public and private funds, will be deployed.

Shire Oak International will bring significant expertise in the renewable energy sector to the IBBC, which brings exciting future possibilities to Iraq and its people.

(Source: IBBC)

The Iraq Britain Business Council (IBBC) has announced that Shire Oak International has become the latest organisation to join the Council.

Shire Oak International is the first organisation with a primary focus on Renewable Energy to join the IBBC.

Shire Oak International is a developer and financier of large-scale renewable energy projects in developing countries and emerging economies. Its core mission is to be a global pathfinder in devising, implementing and spreading renewable energy solutions to drive transformational change in the rate of adoption of renewable energy in the developing world.

In line with this mission – as of October 2018 – the company is advancing 3.7GW of renewable energy projects to be operational in the coming 3-5 years. Beyond this initial suite of projects, the company is validating a further potential 5-6GW to be operational by 2030, a total of over 9GW in 13-15 countries. While the projects and country portfolios are different in many ways, they face common challenges.

Shire Oak International aims to provide a suite of development and financing solutions to surmount these challenges in order to bend the emissions curve in globally important energy markets. Innovative blended finance structures, which combine public and private funds, will be deployed.

Shire Oak International will bring significant expertise in the renewable energy sector to the IBBC, which brings exciting future possibilities to Iraq and its people.

(Source: IBBC)