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

Iraq’s coronavirus cases top 100,000 as Baghdad airport reopens

The number of confirmed coronavirus cases in Iraq exceeded 100,000 on Thursday as the country’s airport in Baghdad reopened to commercial flights for the first time since March.

Click here to read the full story.

By Ali Al-Mawlawi for the Royal Institute for International Affairs (Chatham House). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Iraq’s public sector has shown formidable resistance to reform.

The goal of this briefing is to guide policymakers, international financial institutions and development agencies in their design and implementation of public sector reform programmes in Iraq.

Click here to read the full story.

By Ali Al-Mawlawi for the Royal Institute for International Affairs (Chatham House). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Iraq’s public sector has shown formidable resistance to reform.

The goal of this briefing is to guide policymakers, international financial institutions and development agencies in their design and implementation of public sector reform programmes in Iraq.

Click here to read the full story.

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for June of 84,489,016 barrels, giving an average for the month of 2.816 million barrels per day (bpd), down from the 3.212 million bpd exported in May.

These exports from the oilfields in central and southern Iraq amounted to 81,006,497 barrels, while exports from Kirkuk amounted to 3,482,519 barrels.

Revenues for the month were $2.871 billion at an average price of $33.984 per barrel.

May’s export figures can be found here.

(Source: Ministry of Oil)

By Hassan Ali Ahmed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News.

Mosul sowing seeds post-Islamic State

The Mosul local government in cooperation with civil society is undertaking a project to plant a million trees in Mosul.

Click here to read the full article.

By Hassan Ali Ahmed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News.

Mosul sowing seeds post-Islamic State

The Mosul local government in cooperation with civil society is undertaking a project to plant a million trees in Mosul.

Click here to read the full article.

By Hassan Ali Ahmed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News.

Mosul sowing seeds post-Islamic State

The Mosul local government in cooperation with civil society is undertaking a project to plant a million trees in Mosul.

Click here to read the full article.

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 24th July 2020).

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

The RSISX index ended the week at IQD637 (+2.9%) / $666 (+2.9%) (weekly change) (-3.4% and -4.9% YTD change, respectively). The number of week traded shares was 6.9 bn and the weekly trading volume was IQD2.9 bn ($2.4 mn).

ISX Company Announcements

  • The ISX will organize the fifth and sixth Zoom meetings on Friday and Saturday respectively with Ready-Made Clothes (IRMC) and Ashur International Bank for Investment (BASH) for them to disclose financial results for the investors and participants. IRMC’s meeting will be held on Friday (Jul. 24, 2020) at 4:00 pm (Baghdad time), and the speaker will be CFO, Ms. Maysoon Jasib Hani (For IRMC’s Zoom Meeting Link, please CLICK HERE, Zoom Meeting ID: 815 1124 6834, Password: 593995).  BASH’s meeting will be held on Saturday (Jul. 25, 2020) at 4:00 pm (Baghdad time), and the speaker will be CEO, Ms. Alyaa A’mer Majeed, (For BASH’s Zoom Meeting Link, please CLICK HERE, Zoom Meeting ID: 880 4423 1283, Password: 043429). The participation will be free and the recording of the Zoom meetings will be shared on the ISX website. The ISX will continue organizing financial disclosure workshops until the end of September 2020.
  • ISX will suspend trading of Ahliya for Insurance (NAHF) starting Aug. 9, 2020 due to the AGM that will be held on Aug. 12, 2020 to discuss and approve 2018 annual financial statements and to discuss increasing the company’s capital from IQD2.5 bn to IQD7.0 bn through 180% rights issue.
  • ISX will suspend trading of Zain Al-Iraq Islamic Bank for Investment (BZII) starting Jul. 26, 2020 due to the GA that will be held on Jul. 28, 2020 to elect 7 original and 7 alternative board members.
  • Iraqi for Tufted Carpets (IITC) decided on its AGM held on Jul. 22, 2020 to distribute 70% cash dividends for the year 2019 (IQD0.7 dividend per share, 7.3% dividend yield).
  • Baghdad Soft Drinks (IBSD) decided on its AGM held on Jul. 21, 2020 to distribute 15% cash dividends (IQD0.15 dividend per share, 5.6% dividend yield).
  • ISX suspended trading of Trans Iraq Bank for Investment (BTRI) starting Jul. 20, 2020 due to the AGM that will be held on Jul. 26, 2020 to discuss and approve 2019 annual financial statements.
  • Asiacell (TASC) resumed trading on Jul. 19, 2020 after being suspended for its AGM in which they discussed and approved 2019 annual financial statements and decided to distribute 100% cash dividends (IQD1.00 dividend per share, 14.3% dividend yield).
  • The depositing procedures of Al-Rebas for Poultry and Feed (AREB) with a capital of IQD30 bn started on Jul. 19, 2020. The company will start trading in the non-regular market after 21 days of depositing the company’s shares.

By Aymen Salman, for The Station. Re-published with permission by Iraq Business News.

During this worldwide pandemic, Entrepreneurs have to face a new reality. Whether a vaccine or a cure will be found for this virus or won’t, we are hearing a lot of voices about the world and ecosystem after COVID-19.

Considering the fact that it’s the right time to think about how the entrepreneurship world be like, The Station held a broadcast within the frame of “YANHAD” programme that The Station is implementing with Expertise France, and funded by EU and French Ministry of Foreign Affairs (CDCS).

In this live broadcast, our guests were Mr. Dhafir Hasan, business Innovation and Behavioral Change – Consultant & Trainer; and Mr. Adnan Addioui, a businessman, thinker, and founder of Moroccan CISE. The moderator of this broadcast was Mr. Ammar Al-Khatib, The Executive Director of The Station.

Starting with the definition of “Entrepreneurship“, where Dhafir gave the real mean of entrepreneurship, describing how you can be creative in business and how you can add new components and services, He also highlighted that entrepreneurship has a high risk and that’s what marks the key difference between SMEs and entrepreneurial projects; he also discussed other differences such as the possibility to expand, and the scalability that distinguishes entrepreneurship.

The COVID-19 pandemic has definitely put a huge amount of pressure on the Startups in Iraq, and from what we have heard over the last 3 months from our entrepreneurs’ friends, they’re confused. However, the most common comment that we agree with, is that startups should invest this time to re-plan their business and review their business plan, and identify solutions on how to overcome this catastrophe.

The world will be different after Corona, we have already seen how online activities gathered an enormous amount of publicity, and Dhafir advised all businesses to consider online sales, advertisement and marketing. There are some businesses that didn’t stop operating during this crisis and they have made good profits, especially web-developers, tech-businesses and online education.

One of the main challenges the Iraqi entrepreneurs facing is the mentality of investors in Iraq and their unwillingness to invest in startups. Ammar asked if COVID-19 will motivate those investors to invest more in Startup companies. Dhafir replied, that this will mostly depend on how many successful stories will make it through this crisis, this will be the motivator for investors.

To understand what actually has changed during this pandemic, we asked Adnan, and he said that on the governmental level, we saw how all governmental institutions saw the importance of distance learning, online payments and online shopping, also it highlights the urgent need to diversify sources of income. In the meantime, he advised the entrepreneurs to think about how to launch new services, to see what issues their community faces to work on solving them through their projects.

This time is a great opportunity to do market research.

To watch the full live broadcast (in Arabic), please follow the link below:

https://www.facebook.com/thestationiq/videos/273413730376648/

By Aymen Salman, for The Station. Re-published with permission by Iraq Business News.

During this worldwide pandemic, Entrepreneurs have to face a new reality. Whether a vaccine or a cure will be found for this virus or won’t, we are hearing a lot of voices about the world and ecosystem after COVID-19.

Considering the fact that it’s the right time to think about how the entrepreneurship world be like, The Station held a broadcast within the frame of “YANHAD” programme that The Station is implementing with Expertise France, and funded by EU and French Ministry of Foreign Affairs (CDCS).

In this live broadcast, our guests were Mr. Dhafir Hasan, business Innovation and Behavioral Change – Consultant & Trainer; and Mr. Adnan Addioui, a businessman, thinker, and founder of Moroccan CISE. The moderator of this broadcast was Mr. Ammar Al-Khatib, The Executive Director of The Station.

Starting with the definition of “Entrepreneurship“, where Dhafir gave the real mean of entrepreneurship, describing how you can be creative in business and how you can add new components and services, He also highlighted that entrepreneurship has a high risk and that’s what marks the key difference between SMEs and entrepreneurial projects; he also discussed other differences such as the possibility to expand, and the scalability that distinguishes entrepreneurship.

The COVID-19 pandemic has definitely put a huge amount of pressure on the Startups in Iraq, and from what we have heard over the last 3 months from our entrepreneurs’ friends, they’re confused. However, the most common comment that we agree with, is that startups should invest this time to re-plan their business and review their business plan, and identify solutions on how to overcome this catastrophe.

The world will be different after Corona, we have already seen how online activities gathered an enormous amount of publicity, and Dhafir advised all businesses to consider online sales, advertisement and marketing. There are some businesses that didn’t stop operating during this crisis and they have made good profits, especially web-developers, tech-businesses and online education.

One of the main challenges the Iraqi entrepreneurs facing is the mentality of investors in Iraq and their unwillingness to invest in startups. Ammar asked if COVID-19 will motivate those investors to invest more in Startup companies. Dhafir replied, that this will mostly depend on how many successful stories will make it through this crisis, this will be the motivator for investors.

To understand what actually has changed during this pandemic, we asked Adnan, and he said that on the governmental level, we saw how all governmental institutions saw the importance of distance learning, online payments and online shopping, also it highlights the urgent need to diversify sources of income. In the meantime, he advised the entrepreneurs to think about how to launch new services, to see what issues their community faces to work on solving them through their projects.

This time is a great opportunity to do market research.

To watch the full live broadcast (in Arabic), please follow the link below:

https://www.facebook.com/thestationiq/videos/273413730376648/