By John Lee.

Two companies have been chosen by the United Nations Office for Project Services (UNOPS) for the “Long Term Agreement for Provision of Hardware Tools and Cleaning Materials in Iraq“.

  • Lot 1 – Central and Norther Governorates: awarded to Albilad Alhurra company 
  • Lot 1 – Central and Norther Governorates: awarded to HRA for General Trading, General Contracting and Oil services Ltd 
  • Lot 2 – Western Governorate: awarded to Albilad Alhurra company 
  • Lot 2 – Western Governorate: awarded to HRA for General Trading, General Contracting and Oil services Ltd 

Contract values were not disclosed.

(Source: UNGM)

By John Lee.

Iraqi security forces have attacked medical workers for treating protesters since protests began on October 25, 2019, firing on medical workers, tents, and ambulances with teargas and live ammunition, Human Rights Watch (HRW) said on Thursday. The attacks have left at least one medic dead.

Medics have become another victim of the state’s excessive force,” said Sarah Leah Whitson, Middle East director at Human Rights Watch. “These attacks show an utter disregard for the overriding need to ensure medical workers can do their essential job.

More here.

(Source: HRW)

IBBC hosts largest ever delegation of Iraqi business people at London Business Forum

In a wide-ranging business event over 230 Iraqi business-people and 70 British gathered to meet and discuss Business relations, trade, investment and engagement with the UK’s Business community.

Delegates from all regions of Iraq through the chambers of commerce gathered to hear from representatives of trade associations, IBBC members, chambers of commerce and investors.

Baroness Nicholson, President of IBBC, welcomed the new Iraqi Ambassador, H.E. Mr Mohammad Jaafar Al- Sadr, who gave a keynote address at the conference. The Ambassador speech was followed by an address of H.E Mr Karwan Jamal, High Representative of the Kurdistan Regional Government.

Of note were the panel from Iraqi business people, headed by Dr Dara Jalel Al-Khayat, Chairman of Federation of Chambers of Commerce and Industry of Kurdistan, and representatives from Babil, Baghdad and Basra Chambers, as well as the chair of the Importers and exporters association in Kurdistan.

From the British side, a panel consisting of Rod Dowler of the Industry Forum, Alan Rides MD of Hounslow Chamber of Commerce, Brigadier James Ellery of Turnkey LLC and Mr Peter Hunt of HWH Associates and Raed Hanna, MD of MFL Finance, all spoke positively of their experiences in Iraq, but tempered with advice on improvements to the Iraqi experience. Finally, Jessica Hao of Crossboundary associates spoke of opportunities to invest in start-ups and SMEs in Iraq with support of USAID.

Key messages included the enthusiasm with which the Iraqis are keen for British Investment into numerous sectors in Iraq, especially Agriculture, Petro Chemicals, Food Processing, Housing and Consumer goods.

The idea of joint ventures with British know how and expertise and Iraqi partners are also suggested as ways to overcome perceptions of risk in the country. However, many delegates all supported the notion that despite the present legitimate protests in many parts of the country overall peace and stability has returned to Iraq following the defeat of DAESH and that the business environment is getting more favourable. Nevertheless, much needs to be done to free up and boost the private sector, an essential step to meet the demands for real jobs and futures of the ever-increasing young Iraqi population.

Following the formal event, the delegates networked extensively with each other and the British contacts in the room.

The group move onto Northampton University, Ardley high tech waste centre, and High-tech leather innovation centre in Northampton University before returning to Iraq.

For more information on the contacts for exports and import opportunities, please contact London@webuildiraq.org

(Source: IBBC)

Advertising Feature

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

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

The RSISX index ended the week at IQD646 (+0.2%) / $687 (+0.2%) (weekly change) (-2.0% and -3.2% YTD change, respectively). The number of week traded shares was 11.3 bn and the weekly trading volume was IQD 11.8 bn ($9.7 mn).

ISX Company Announcements

  • Ishtar Hotel (HISH) will hold an AGM on Dec. 4, 2019 to discuss and approve 2017 annual financial statements. The company has been suspended from trading since Aug. 20, 2019 due to not disclosing its 2018 annual financial statements.
  • ISX will suspend trading of Bain Al-Nahrain Investment (VMES) starting Nov. 28, 2019 due to the AGM that will be held on Dec. 3, 2019 to discuss and approve 2018 annual financial statements.
  • Ameen Al-Iraq Islamic Bank / Mouta for Remittance (MTMO) held an AGM on Nov. 13, 2019 to discuss and approve 2018 annual financial statements. The company has been suspended from trading since Jan. 21, 2018 until it receives its operation license by the CBI.
  • ISX suspended trading of Iraqi for Seed Production (AISP) starting Nov. 12, 2019 due to not disclosing its 2019 financial statements.

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

Is Iran trying to hijack Iraqi protesters’ demands?

In reaction to continuing mass protests that began Oct. 1, the Supreme Judicial Council is reviewing the Iraqi Constitution and will submit proposed amendments to parliament — though protesters fear that will only delay action on their demands.

Parliament has formed an Amendment Committee that is to complete its recommendations within four months, aiming to answer protesters’ demands for reforms to end corruption and the electoral quota system, which is based on religious and ethnic affiliations.

Click here to read the full story.