Iraq Economic News and Points To Ponder Friday Morning 7-17-26
Iraq Places 88th In Global Economic Development Ranking
2026-07-17 03:29 Shafaq News- Baghdad Iraq ranked 88th out of 100 countries and 11th among Arab states in the 2026 US News & World Report Best Countries rankings for economic development, placing ahead of Algeria and Jordan.
The report estimated Iraq’s gross domestic product (GDP) at $666 billion, with a purchasing power parity (PPP) GDP per capita of $14,464.
The United Arab Emirates led the Arab rankings, placing 31st worldwide with a GDP of $870.4 billion and a PPP GDP per capita of $79,229. Qatar followed in 43rd ($360.2 billion; PPP GDP per capita: $126,046), ahead of Saudi Arabia in 50th ($2.5 trillion; $71,375).
Egypt came in 62nd ($2.2 trillion; $19,094), followed by Kuwait in 63rd ($256.8 billion; $52,444), Oman in 71st ($220.5 billion; $41,740), Tunisia in 73rd ($178.3 billion; $14,521), Bahrain in 79th ($106.3 billion; $66,941), Morocco in 81st ($402.8 billion; $10,415), and Lebanon in 83rd ($72.6 billion; $12,575).
Algeria followed in 89th with a GDP of $824.9 billion and a PPP GDP per capita of $17,621, while Jordan placed 90th with corresponding figures of $125 billion and $10,821.
https://www.shafaq.com/en/Economy/Iraq-places-88th-in-global-economic-development-ranking
Dollar Steadies As Fed Hopes Offset Middle East Tensions
2026-07-17 02:46 Shafaq News The dollar held steady on Friday but was poised for a weekly decline as a tame U.S. inflation report this week led traders to cut bets on imminent rate hikes from the Federal Reserve, although escalating attacks in the Middle East soured sentiment.
Iran and the United States exchanged intensifying fire in a week-long escalation that has largely unravelled last month's truce, spurring safe haven bids for the dollar and leading oil prices near one-month highs.
In currency markets, the euro was at $1.1437, set for a 0.2% rise in the week. Sterling fetched $1.3476, on course for a 0.56% gain in the week, its third straight week of gains on fading concerns over Britain's fiscal outlook.
The Japanese yen was fetching 162.39 per U.S. dollar, rooted near the 40-year low of 162.84 it touched at the start of the month. Traders remained wary of official intervention from Tokyo after Japanese Finance Minister Satsuki Katayama reiterated the government's readiness to take decisive action.
The dollar index , which measures the U.S. currency against six other units, was at 100.72, set for a weekly drop of 0.24%. The index hit a one-month low earlier this week on easing chances of a near term rate hike but safe-haven flows have helped support the greenback.
"The USD remains the highest-yielding safe-haven currency in the G10 complex," OCBC strategists said in a note.
"Near-term FX price action is likely to continue reflecting the 'USD smile' framework, under which the greenback tends to outperform when markets price either stronger U.S. growth and higher rates or a rise in global risk aversion," they wrote.
Data on Thursday showed U.S. retail sales rose slightly in June as lower gasoline prices weighed on receipts at service stations, but online spending surged, prompting economists to upgrade their second-quarter growth estimates.
The economy's resilience was underscored by other data also showing labour market stability. Economists believe the Federal Reserve would keep interest rates unchanged later this month after data showed consumer price inflation had cooled in June.
Karen Manna, portfolio manager for fixed income at Federated Hermes, said: "It is far too early to conclude that a renewed disinflation trend has taken hold or that inflation concerns have been fully resolved."
Policymakers are also wary of banking too heavily on one month of improvement after months when inflation moved in the wrong direction.
Chances for a Fed hike in July stood at 11%, versus a 25% implied probability last week, according to the CME FedWatch tool. Traders are pricing in 26 basis points of hikes by December.
"I don’t think July is live for rate hikes," said Tani Fukui, senior director of global economic and market strategy for MetLife Investment Management. "We expect neither rate hikes nor cuts in 2026."
In other currencies, the Australian and New Zealand dollars were poised for a third straight week of gains. The Aussie was 0.24% softer on the day at $0.6981 as risk-off sentiment prevailed. The kiwi was at $0.5838.
China's yuan weakened from a one-month high against the dollar, but remained on track for its third straight week of gains.
Markets mostly shrugged off comments from President Donald Trump after he renewed accusations that China meddled in U.S. elections, a move that could complicate his fragile truce with Chinese leader Xi Jinping.
Investor focus next week will be on the policy decision from the European Central Bank where it is expected to hold interest rates steady, according to a Reuters poll. But a rate hike next month is increasingly likely, economists say. (REUTERS)
https://www.shafaq.com/en/Economy/Dollar-steadies-as-Fed-hopes-offset-Middle-East-tensions
From 13 To 200 Thousand Dollars. Ticket Prices For The 2026 Final Are The Most Expensive In History
Money and business Economy News — Follow-up Ticket prices for the final match of the FIFA World Cup between Argentina and Spain on Sunday set record highs of insanity, which cannot be compared to any previous final of the tournament.
As long as watching the World Cup final from the pitch remains a dream for any football fan, although not impossible, the high prices of tickets for the 2026 World Cup final, in the United States, America, Canada and Mexico, which will be held on Sunday, July 19, 2026, at the Met Life Stadium in East Rutherford, New Jersey, has become almost impossible for the majority of those who wish.
The most expensive final ticket in the history of the World Cup
The 2026 final ticket was valued at around $13,000 and $700 on average according to the ticket resale market.
While the prices of some seats in the stadium "Met Life" for the match nearly 200 thousand US dollars.
This amount represents a crazy increase compared to the final of the 2022 Qatar edition between France and Argentina, where the value of the highest ticket was at the time of 1600 US dollars.
As for the 2026 edition, FIFA has set official ticket prices to range from US$2,030 to US$6,730, depending on the seat category.
The alternative market, for those who want to resell the tickets they received, which FIFA allowed in exchange for a percentage of resale, has contributed to raising prices further.
The cheapest tickets currently offered start at around US$8,000, while the prices of the seats closest to the stadium may exceed US$38,000.
How to Buy Tickets for the 2026 World Cup Final
At the official level, the initial stages of the sale are over, including the initial draw and the pre-sale of Visa cardholders, leaving limited opportunities to purchase tickets directly through official channels.
But FIFA still offers a final stage of direct pre-sale, as well as its official ticket resale platform, where fans can buy and sell approved tickets.
In addition, there are also certified secondary markets such as StubHub, Ticketmaster, Vivid Seats, and SeatGeek for fans who want to attend high-turnout matches, knowing that prices may be much higher than the original ticket price.
https://www.economy-news.net/content.php?id=71482
The Dollar Is Heading For A Weekly Loss Due To US Inflation Pressure
Money and business Economy News — Follow-up The dollar stabilized on Friday but is heading for a weekly decline, as the U.S. inflation report released this week, which came in less than expected, prompted traders to reduce their bets on the Federal Reserve (the US central bank) to raise interest rates soon, but the escalation of attacks in the Middle East affected morale.
Iran and the United States have been escalatingly striking for a week, significantly undermining last month’s ceasefire deal, spurring demand for the dollar as a safe haven and pushing oil prices closer to their highest levels in a month.
In the currency markets, the euro reached $1.1445, heading for a rise of 0.29% during the week. The pound hit $1.3476 and is heading for a 0.56 percent gain during the week, the third straight week of gains amid fading concerns about Britain’s financial outlook.
The yen hit 162.39 against the dollar, settling near a 40-year low of 162.84 at the start of the month, while traders remained waiting for any official intervention from Tokyo.
The dollar index, which measures the performance of the US currency against six currencies, recorded 100.72, heading for a weekly decline of 0.24 percent. The index hit a month-low earlier in the week as the prospect of a near-term rate hike eased, but money flows to safe havens helped support the U.S. currency.
Analysts in O. C.C. B. In a note, the U.S. dollar remains the safe haven currency with the highest yield within the G10 currencies.
Data released on Thursday showed U.S. retail sales rose slightly in June, but online spending increased significantly, prompting economists to raise their growth forecasts in the second quarter.
Other data showed the stability of the labor market, highlighting the strength of the economy. Economists believe the Federal Reserve will keep interest rates unchanged later in the month after data showed consumer price inflation slowing in June.
But Federal Reserve Vice Chairman Philip Jefferson suggested he would be open to raising interest rates if inflation did not improve in the near term. https://www.economy-news.net/content.php?id=71480