Iraq Economic News and Points To Ponder Thursday Afternoon 12-25-25

 Iraqi Christians Celebrate Christmas Mass

Time: 2025/12/24 20:23:38 Reading: 15 times   {Local: Al-Furat News} Christians throughout Iraq celebrate Christmas and the New Year in a traditional manner that combines religious and social rituals.

The Ain Kawa region in Iraq is considered one of the most prominent centers where Christians celebrate Christmas and the New Year, as the celebrations there are characterized by deep religious rituals and social customs inherited across generations.

Preparations usually begin weeks before Christmas, with residents decorating churches and homes with lights and colorful decorations, and placing a nativity scene representing the birth of Jesus Christ, to become the focus of attention for children and families.

In churches, services are held that include the recitation of Christmas prayers and hymns reflecting spirituality and pride in Christian identity. Activities are also organized for children, such as short plays depicting the Nativity story.

From a social perspective, visits to relatives and neighbors are an essential part of the celebration, where people exchange greetings and symbolic gifts, and invitations are made to communal feasts that strengthen ties between members of the community.

Traditional foods prepared and served on this occasion vary, most notably grilled meats, pacha, Mosul kibbeh, special Christmas cakes, local sweets such as baklava and various pastries prepared by families.  LINK

The President Of The Republic Congratulates Christians In Iraq And The World On The Occasion Of Christmas

Wednesday, December 24, 2025 8:18 PM | Politics Number of views: 41   Baghdad / NINA / President Abdul Latif Jamal Rashid extended his congratulations and best wishes to Christians in Iraq and around the world on the occasion of Christmas, emphasizing his deep appreciation for their integral role in the history and present of our nation. /End  https://ninanews.com/Website/News/Details?key=1268356

Oil Minister: Refining Sector Projects Aim To Transform Iraq Into An Exporter Of Petroleum Products.

Energy   Economy News – Baghdad   Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul Ghani stated on Wednesday that the ministry aims, through expansion projects in the refining sector, to transform Iraq into an exporter of oil derivatives.

This came during his chairmanship of a meeting to discuss refining capacity projects for Iraqi refineries and expansion plans to increase and sustain production, according to a statement issued by the ministry.

The statement quoted the minister as saying that the ministry had achieved great accomplishments in the liquidation sector, reaching the stage of self-sufficiency, noting that the ministry is working to provide a stockpile for emergency situations.

The meeting was attended by the ministry’s undersecretaries for the extraction, gas, and refining sectors, and the directors general of the relevant departments in the ministry.

Abdul Ghani stressed the need to adopt modern methods and techniques to ensure the continuity of the successes achieved in the field of refining, especially after the completion of the ministry’s projects to improve gasoline in the two projects: Al-Sumoud Refinery in Baiji, and the FCC unit in the South Refineries Company.

Abdul Ghani continued, saying: “Regarding gas oil (kerosene), the ministry has achieved self-sufficiency, and we are in the export phase,” noting the ministry’s efforts to increase revenues for the state treasury.

He explained that the expansion projects in the refining sector are intended to transform Iraq from a consumer and importer of oil derivatives to an exporter of derivatives, as well as to provide job opportunities for Iraqis.
https://economy-news.net/content.php?id=63783

Basra Crude Oil Prices Rise In Wednesday's Trading

Economy | 10:00 - 24/12/2025   Mawazin News – Economy  Prices for Basra Heavy and Medium crude oil rose in trading on Wednesday. The prices were as follows:

Basra Heavy crude prices rose by 64 cents, or 1.11%, to reach $58.36.
Basra Medium crude prices rose by 64 cents, or 1.06%, to reach $60.91.
https://www.mawazin.net/Details.aspx?jimare=271947

Gold And Silver Continue To Record High Levels.

Economy | 09:08 - 24/12/2025   Mawazin News – Economy   Gold surpassed $4,500 an ounce on Wednesday for the first time ever, driven by increased safe-haven demand and expectations of further US interest rate cuts next year. Silver and platinum also climbed to record highs.

Spot gold rose about 0.4% to $4,503.59 an ounce by 00:00 GMT, after hitting a record high of $4,509.65 earlier. US gold futures for February delivery climbed 0.7% to a record high of $4,540.60 an ounce.

Spot silver gained 0.5% to $71.80 an ounce, having earlier reached an all-time high of $71.85.

The dollar fell to its lowest level in nearly three months on Tuesday against a basket of other major currencies, making dollar-denominated gold more attractive to overseas buyers.

Gold has had a strong year in 2025, rising 72% so far and setting multiple record highs.

It has benefited from several factors this year, including US interest rate cuts, bets on continued monetary easing, international conflicts, strong demand from central banks seeking to diversify their reserves away from the dollar, and increased investment demand in exchange-traded funds (ETFs).

Silver has risen 149% since the beginning of the year, significantly outperforming gold, and has surpassed $70, driven by structural deficits, its inclusion on the US list of critical metals, and strong industrial demand.

On the macroeconomic front, traders still expect two US interest rate cuts next year.  As for other precious metals, platinum rose 2.9% in spot trading to $2,342.25 an ounce after hitting an all-time high of $2,347.40, while palladium gained nearly 3% to $1,919.69 an ounce, its highest level in three years. https://www.mawazin.net/Details.aspx?jimare=271943

Dollar Exchange Rate Against The Iraqi Dinar Today

Economy | 10:53 - 24/12/2025   Mawazin News – Baghdad  Mawazin News publishes today, Wednesday, the exchange rates of the US dollar against the Iraqi dinar in local markets. The rates are as follows: Selling price: 143,750 Iraqi dinars per 100 US dollars.  - The purchase price is 142,750 Iraqi dinars for 100 dollars. https://www.mawazin.net/Details.aspx?jimare=271951

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