Iraq Economic News And Points To Ponder Monday Afternoon 4-20-26
Federal Reserve Chairman Candidate Kevin Warsh: Monetary Policy Must Remain Independent
Arabic and international Kevin Warsh, the nominee for chairman of the U.S. Federal Reserve, said on Monday, April 20, that the central bank should have significant independence from political influences, while remaining focused on its core objectives. In remarks to be made Tuesday before the Senate Banking Committee, Warsh expressed his unwavering commitment to fighting inflation, with only one reference to the labor market. The former Federal Reserve governor said: "Quite simply, the independence of the Federal Reserve depends heavily on it."
He added: "The Federal Reserve must adhere to the scope of its jurisdiction. Its independence is most at risk when it intervenes in fiscal and social policies over which it has no authority or expertise."
President Donald Trump announced in late January that Warsh would be his choice to succeed current President Jerome Powell.
Since the start of the appointment process, questions have been raised about the ability of Warsh, or any other Trump nominee, to withstand repeated pressure from Trump and other White House officials to lower interest rates.
While Warsh spoke about the importance of political independence, he laid down several conditions.
He said: "I don't think the operational independence of monetary policy is particularly threatened when elected officials, presidents, senators, or members of the House of Representatives, express their views on interest rates."https://www.economy-news.net/content.php?id=68134
Parliament Affirms Its Commitment To Strengthening The Partnership With China.
Money and Business Economy News — Baghdad The First Deputy Speaker of the House of Representatives, Adnan Faihan Al-Dulaimi, affirmed on Sunday the readiness of Parliament to strengthen the partnership with China and activate the development road project.
A statement from his media office, received by “Al-Eqtisad News”, stated that “the First Deputy Speaker of the House of Representatives, Adnan Faihan Al-Dulaimi, received today, Sunday, the Ambassador of the People’s Republic of China to Iraq, Sui Wei, to discuss ways to enhance strategic cooperation between the two friendly countries, and to activate parliamentary communication channels, in addition to discussing the latest local, regional and international developments, and their implications for the paths of joint cooperation.”
According to the statement, Faihan emphasized "the House of Representatives' keenness to develop frameworks for bilateral partnership, in a way that enhances mutual interests and serves the aspirations of the two friendly peoples," noting "the importance of benefiting from advanced Chinese expertise in various sectors to support the development process in Iraq."
He stressed "the need to activate bilateral agreements, and to give the development road project strategic priority, while providing an attractive investment environment that allows reputable Chinese companies to contribute effectively to the development of the service and economic sectors."https://www.economy-news.net/content.php?id=68072
Iraqi Trade Ministry Announces Plan To Develop Non-Oil Exports
Money and Business Economy News — Baghdad Minister of Trade Atheer Dawood Al-Ghurairi affirmed that the ministry is proceeding with the implementation of its programs aimed at developing non-oil exports and expanding the base of local production by activating the role of the Export Support Fund, describing the fund as one of the main pillars in supporting the economy and enhancing the ability of Iraqi products to compete in global markets.
The minister explained that the Export Support Fund's vision focuses on diversifying income sources, enhancing local production, and creating job opportunities that contribute to achieving sustainable economic growth.
He added that the fund provides comprehensive financial and technical support to Iraqi companies and factories, in addition to facilitating their participation in international exhibitions by bearing part of the participation costs, which contributes to opening new markets and finding commercial partners, as well as promoting the national product through the issuance of introductory guides for Iraqi exports for the years 2023, 2024 and 2025. https://www.economy-news.net/content.php?id=68073
Reopening Of The Rabia Border Crossing With Syria
Money and Business Economy News – Baghdad The Director General of the Iraqi Border Ports Authority, Omar Al-Waeli, announced on Monday the opening of the Rabia border crossing with Syria, stressing that it represents an important economic and humanitarian transformation for Nineveh Governorate and Iraq.
Al-Waeli said that the crossing is an important passage within the development road project, and it would support trade and enhance connectivity between Iraq and its regional surroundings.
He added that the opening of the port will contribute to employing thousands of workers and will support the government's efforts to develop the areas west of Nineveh.
He pointed out that the crossing also has a humanitarian dimension, given the presence of interconnected tribes on both sides of the Iraqi and Syrian borders, bound by close social ties.
The Rabia border crossing, located west of Nineveh Governorate, is one of the important land crossings between Iraq and Syria, as it connects Iraqi territory with the Al-Yarubiyah crossing on the Syrian side, giving it commercial and logistical importance in the movement of goods and passengers between the two countries.
The crossing was reopened for trade after years of closure due to security conditions, forming a vital corridor to support economic activity and stimulate import and export between Baghdad and Damascus.
https://www.economy-news.net/content.php?id=68122
Iraqi Airways Will Begin Operating Flights Between Baghdad And Delhi On This Date.
Money and Business Economy News – Baghdad The airline announced today, Monday, that it will activate the "Baghdad - Delhi - Baghdad" route within its flight schedule starting next Sunday.
Iraqi Airways said in a press statement today that customers can easily book through official offices or via the online booking website.
Iraqi Airways announced the resumption of several of its international flights from Basra International Airport, noting that flights will operate on the Basra-Dubai-Basra route on Thursday and Saturday, the Basra-Istanbul-Basra route on Wednesday and Friday, and the Basra-Cairo-Basra route every Tuesday, according to the German Press Agency (dpa).
The General Company for Air Navigation Services held an extensive meeting yesterday, Sunday, via video conference with the International Air Transport Association and a number of international airlines.
The company’s general manager, Ahmed Emad Ahmed, said in a press statement that the meeting discussed the latest developments regarding the return of air traffic and the options for using Iraqi airspace by international airlines. Direct air routes within Iraqi airspace were also reviewed, in addition to proposing new routes with important operational advantages for airlines, including reducing flight times, lowering fuel consumption, and limiting carbon emissions in line with international environmental standards. https://www.economy-news.net/content.php?id=68109