Latest news with #Asiacell
Khaleej Times
06-08-2025
- Business
- Khaleej Times
Rabee Securities Iraq Stock Exchange Index posts 1.3% growth in July
The Rabee Securities Iraq Stock Exchange Index (RSISX Index) rose by 1.3 per cent in July, outperforming regional peers including Saudi Arabia (-2.2 per cent), Bahrain (+0.6 per cent), and Kuwait (+1.2 per cent). Key drivers of growth included Al-Mansour Bank, National Bank of Iraq, Commercial Islamic Bank of Iraq, and Asiacell. The RSISX Total Return Index (RSISXTR) recorded a 2.4 per cent gain in July, supported by dividend activity led by Baghdad Soft Drinks (IQD 0.36 per share, 7.5 per cent yield). Other dividend contributors during the month included Dar Al-Salam for Insurance (7.7 per cent), Al Janoob Islamic Bank (3.1 per cent), and Mamoura Real Estate Investment (0.9 per cent). Tugba Tan Karakaya, Equity Analyst at Rabee Securities, commented: 'Market momentum remained resilient in July, driven by solid banking and telecom sector performance. Dividend yields continue to reflect healthy corporate fundamentals, while macroeconomic reforms and infrastructure commitments are enhancing long-term investor sentiment.' Trading volume on the Iraq Stock Exchange (ISX) surged 45 per cent month-on-month, reaching $25.3 million. The banking sector led activity with a 66.6 per cent share, followed by industry (14.9 per cent), telecom (11.1 per cent), agriculture (3.1 per cent), services (2.9 per cent), and hotels & tourism (1.3 per cent). Meanwhile, OTC market trading fell 86 per cent to $37.4K. A total of 27 companies recorded price increases in July, with 13 rising more than 5 per cent and 10 exceeding 10 per cent. Notable performers included Kurdistan International Islamic Bank (+52.2 per cent) and Al-Ataa Islamic Bank (+50.0 per cent). July also brought several key macroeconomic developments. The IMF completed its 2025 Article IV consultation, forecasting 3.1 per cent GDP growth and 2.9 per cent inflation, while urging fiscal reform and diversification. Iraq ranked third in the Arab world for bank card issuance, reflecting rapid digital payment growth. Additionally, the World Bank approved a $930 million rail modernisation project, and Iraq formally adopted the TIR transit system, positioning itself as a regional trade hub.
Zawya
06-08-2025
- Business
- Zawya
Rabee Securities Iraq Stock Exchange Index posts 1.3% growth in July
Baghdad, Iraq: The Rabee Securities Iraq Stock Exchange Index (RSISX Index) rose by 1.3% in July, outperforming regional peers including Saudi Arabia (-2.2%), Bahrain (+0.6%), and Kuwait (+1.2%). Key drivers of growth included Al-Mansour Bank, National Bank of Iraq, Commercial Islamic Bank of Iraq, and Asiacell. The RSISX Total Return Index (RSISXTR) recorded a 2.4% gain in July, supported by dividend activity led by Baghdad Soft Drinks (IQD 0.36 per share, 7.5% yield). Other dividend contributors during the month included Dar Al-Salam for Insurance (7.7%), Al Janoob Islamic Bank (3.1%), and Mamoura Real Estate Investment (0.9%). Tugba Tan Karakaya, Equity Analyst at Rabee Securities, commented: "Market momentum remained resilient in July, driven by solid banking and telecom sector performance. Dividend yields continue to reflect healthy corporate fundamentals, while macroeconomic reforms and infrastructure commitments are enhancing long-term investor sentiment." Trading volume on the Iraq Stock Exchange (ISX) surged 45% month-on-month, reaching USD 25.3 million. The banking sector led activity with a 66.6% share, followed by industry (14.9%), telecom (11.1%), agriculture (3.1%), services (2.9%), and hotels & tourism (1.3%). Meanwhile, OTC market trading fell 86% to USD 37.4K. A total of 27 companies recorded price increases in July, with 13 rising more than 5% and 10 exceeding 10%. Notable performers included Kurdistan International Islamic Bank (+52.2%) and Al-Ataa Islamic Bank (+50.0%). July also brought several key macroeconomic developments. The IMF completed its 2025 Article IV consultation, forecasting 3.1% GDP growth and 2.9% inflation, while urging fiscal reform and diversification. Iraq ranked third in the Arab world for bank card issuance, reflecting rapid digital payment growth. Additionally, the World Bank approved a $930 million rail modernization project, and Iraq formally adopted the TIR transit system, positioning itself as a regional trade hub.
Iraq Business
07-06-2025
- Business
- Iraq Business
Asiacell and China Mobile partner on Digital Transformation
By John Lee. Asiacell and China Mobile International (CMI) have signed a Memorandum of Understanding (MoU) to jointly deliver comprehensive digital and telecom solutions in Iraq, with a strong focus on B2B and enterprise services. The agreement aims to support Iraq's broader digital transformation by leveraging CMI's global technical expertise and real-world use cases to empower Iraqi enterprises through innovative, scalable, and efficient digital infrastructure. Alex Lee, CMI's General Manager for the Middle East, expressed enthusiasm about the partnership: "We are excited to work with Asiacell to unlock new opportunities in Iraq. Our shared vision for a digitally connected world aligns with the tremendous growth potential of this market." Asiacell CEO Amer Sunaa added: "This marks a milestone in Iraq's digital journey. Partnering with CMI reinforces our commitment to delivering world-class telecom and IT solutions that meet the evolving needs of businesses across the region." The partnership will focus on international connectivity, enterprise services, and emerging technologies to boost innovation and sustainable growth across key sectors in Iraq. (Source: Asiacell)
Khaleej Times
04-06-2025
- Business
- Khaleej Times
Rabee Securities Iraq Stock Exchange Index posts 0.7% growth in May
The Rabee Securities Iraq Stock Exchange Index (RSISX Index) rose by 0.7 per cent in May, supported by gains in Asiacell, Baghdad Soft Drinks, National Bank of Iraq, and Al-Mansour Bank. Meanwhile, the RSISX Total Return Index (RSISXTR) outperformed, rising 6.4 per cent, driven by strong dividend activity. Key contributors included Bank of Baghdad (IQD0.65 per share, 14.5 per cent yield), Asiacell (IQD1.50 per share, 11.5 per cent yield), and Al-Mansour Hotel (IQD0.17 per share, 0.4 per cent yield). Tugba Tan Karakaya, Equity Analyst at Rabee Securities, commented: 'The market's performance this month reinforces investor confidence in core sectors like banking and telecom. Despite softer trading volumes, we are seeing healthy signals in dividend yields and price movements. As Iraq advances on reforms and financial inclusion, the medium-term fundamentals remain promising.' Total trading volume on the Iraq Stock Exchange (ISX) declined 21 per cent month-on-month to $21.8 million. Excluding cross-transactions, the volume stood at $18.2 million, a 24 per cent drop. The banking sector remained dominant, accounting for 60.1 per cent of trades, followed by telecom (19.8 per cent), industry (13.1 per cent), services (3.2 per cent), agriculture (2.1 per cent), and hotels & tourism (1.6 per cent). Trading activity in the OTC market also dipped 10 per cent to $88.5K. In May, 27 companies recorded share price increases. Of these, 13 rose more than 5 per cent, and 9 gained over 10 per cent. Al-Ahlyia for Agricultural Production led the market with a 67.4 per cent surge, followed by Al-Hilal Industries, up 42.5 per cent. On the macroeconomic front, Iraq welcomed several key developments during the month. The IMF, during its May 4–13 visit, called for urgent reforms including fiscal consolidation, restructuring of state-owned banks, and private sector expansion. The 34th Ordinary Arab League Summit was held in Baghdad on May 17, hosting delegations from 20 Arab countries. Meanwhile, the Central Bank of Iraq (CBI) launched its first National Financial Inclusion Strategy (2025–2029), aiming to expand secure access to financial services nationwide. Additionally, Iraq signed a strategic deal with a consortium led by China-based Geo-Jade Petroleum and Basra Crescent. The agreement targets a fivefold increase in output from the Tuba oil field rising from 20,000 to 100,000 barrels per day—and includes investment in downstream infrastructure totaling $848 million.
Zawya
04-06-2025
- Business
- Zawya
Rabee Securities Iraq Stock Exchange Index posts 0.7% growth in May
Baghdad, Iraq: The Rabee Securities Iraq Stock Exchange Index (RSISX Index) rose by 0.7% in May, supported by gains in Asiacell, Baghdad Soft Drinks, National Bank of Iraq, and Al-Mansour Bank. Meanwhile, the RSISX Total Return Index (RSISXTR) outperformed, rising 6.4%, driven by strong dividend activity. Key contributors included Bank of Baghdad (IQD0.65 per share, 14.5% yield), Asiacell (IQD1.50 per share, 11.5% yield), and Al-Mansour Hotel (IQD0.17 per share, 0.4% yield). Tugba Tan Karakaya, Equity Analyst at Rabee Securities, commented: 'The market's performance this month reinforces investor confidence in core sectors like banking and telecom. Despite softer trading volumes, we are seeing healthy signals in dividend yields and price movements. As Iraq advances on reforms and financial inclusion, the medium-term fundamentals remain promising'. Total trading volume on the Iraq Stock Exchange (ISX) declined 21% month-on-month to USD 21.8 million. Excluding cross-transactions, the volume stood at USD 18.2 million, a 24% drop. The banking sector remained dominant, accounting for 60.1% of trades, followed by telecom (19.8%), industry (13.1%), services (3.2%), agriculture (2.1%), and hotels & tourism (1.6%). Trading activity in the OTC market also dipped 10% to USD 88.5K. In May, 27 companies recorded share price increases. Of these, 13 rose more than 5%, and 9 gained over 10%. Al-Ahlyia for Agricultural Production led the market with a 67.4% surge, followed by Al-Hilal Industries, up 42.5%. On the macroeconomic front, Iraq welcomed several key developments during the month. The IMF, during its May 4–13 visit, called for urgent reforms including fiscal consolidation, restructuring of state-owned banks, and private sector expansion. The 34th Ordinary Arab League Summit was held in Baghdad on May 17, hosting delegations from 20 Arab countries. Meanwhile, the Central Bank of Iraq (CBI) launched its first National Financial Inclusion Strategy (2025–2029), aiming to expand secure access to financial services nationwide. Additionally, Iraq signed a strategic deal with a consortium led by China-based Geo-Jade Petroleum and Basra Crescent. The agreement targets a fivefold increase in output from the Tuba oil field rising from 20,000 to 100,000 barrels per day and includes investment in downstream infrastructure totaling $848 million.
