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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st March 2019).

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

The RSISX index ended the week at IQD589 (-2.5%) / $634 (-2.6%) (weekly change) (-10.6% and -10.7% YTD change, respectively). The number of week traded shares was 4.1 bn and the weekly trading volume was IQD1.8 bn ($1.5 mn).

ISX Company Announcements

  • ISX will suspend trading of Iraq Noor Islamic Bank for Investment (BINI) starting Mar. 25, 2019 due to the AGM* that will be held on Mar. 28 to discuss and approve 2018 annual financial results.
  • Al-Mansour Bank (BMNS) resumed trading on Mar. 20, 2019 after discussing and approving 2018 annual financial results and deciding to distribute 7% cash dividend (IQD0.07 dividend per share, 9.7% dividend yield).
  • Middle East Producing & Marketing – Fish (AMEF) resumed trading on Mar. 20, 2019 after electing new board members.
  • According to ISC announcement published on Mar. 20, 2019, Al-Harir for Money Transfer (MTAH) has been delisted from the Iraq Stock Exchange.
  • ISX suspended trading of Trans Iraq Bank for Investment (BTRI) starting Mar. 17, 2019 due to the AGM* that will be held on Mar. 20, 2019 to discuss and approve 2017 annual financial results.
  • United Bank (BUND) resumed trading on Mar. 17, 2019 by the CBI decision to remove the custody from the bank due to completing the procedure of electing new board members.

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

Women in Iraq push to Criminalise Domestic Violence

Domestic violence has been on the rise in Iraq, with women’s groups blaming instability and the break down of law and order.

However, there has been a growing awareness of the issue at the highest levels of government and the women’s rights groups are hopeful that the legislature will finally pass a law criminalising what they see as a “national crisis”.

The penal code currently has a provision allowing husbands to discipline their wives and does not criminalise domestic violence.

Al Jazeera‘s Natasha Ghoneim reports from Baghdad:

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

The Iraqi security forces have expanded their operations to track down members of the Islamic State (IS) in the vast Western Desert.

The security forces, however, have yet to reach an integrated strategy to confront IS in these lands, which stretch along Iraq’s borders with three countries and are located near key Sunni and Shiite cities.

The sub-governor of the city of al-Ratba in west Anbar, Emad al-Dulaimi, confirmed March 13 that an IS member killed a resident who was kidnapped while picking truffles more than two weeks ago in the desert.

Click here to read the full story.

Kuwait Energy has announces that the Royal Court of Jersey has approved the acquisition of the company by Gold Cheers Corporation Limited, a wholly-owned subsidiary of United Energy Group Limited (UEG), by means of a scheme of arrangement.

The consideration to be paid under the transaction will be US$477,248,630.20 which equates to a per share price of US$1.46400797821.

Completion of the acquisition remains subject to delivery of the Act of Court sanctioning the Scheme to the Registrar of Companies in Jersey. This is expected to occur on or before 22 March 2019 (the “Effective Date”), at which time the Scheme will become effective.

Payments to shareholders should be dispatched within 14 days of the Effective Date, as detailed in the scheme document dated 15 November 2018 relating to the Scheme.

In Iraq, Kuwait Energy has interests in the Mansuriya, Siba, and Block 9 fields.

(Source: Kuwait Energy)