Iraq Economic News and Points to Ponder Tuesday Afternoon 1-14-25

The Dollar Exchange Rate Decreased In Baghdad Markets

Stock Exchange  Economy News – Baghdad   The US dollar exchange rate fell this morning, Tuesday, in Baghdad markets.  The dollar prices witnessed a decline with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 150,950 dinars for every 100 dollars, while yesterday morning, Monday, it recorded 151,150 dinars for every 100 dollars.

Selling prices in exchange shops in local markets in Baghdad recorded stability, as the selling price reached 152,000 dinars, while the purchase price reached 150,000 dinars for every 100 dollars.- https://economy-news.net/content.php?id=51930

Gold Prices Fall In Baghdad

Stock Exchange  Economy News – Baghdad   The prices of "foreign and Iraqi" gold decreased in the local markets in the capital, Baghdad, today, Tuesday (January 14, 2025).

Gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 564 thousand dinars, and a purchase price of 560 thousand dinars.

The selling price of one mithqal of 21-karat Iraqi gold reached 534 thousand dinars, and the purchase price was 530 thousand.

As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 565,000 and 575,000 dinars, while the selling price of a mithqal of Iraqi gold ranges between 535,000 and 545,000 dinars.    90 views 01/14/2025 - https://economy-news.net/content.php?id=51933

Slight Drop In Oil Prices  

Economy | 11:21 - 01/14/2025  Mawazine News – Baghdad  Oil prices fell in early trading on Tuesday but remained near four-month highs as Chinese and Indian buyers sought new suppliers following U.S. President Joe Biden's administration's sanctions on Russian oil.
Brent crude futures fell 22 cents, or 0.27%, to $80.79 a barrel, while U.S. West Texas Intermediate (WTI) crude futures lost 16 cents, or 0.2%, to $78.66 a barrel.  https://www.mawazin.net/Details.aspx?jimare=258572

Economist Describes The Establishment Of The First Rafidain Bank As An Excellent Step

Banks   Economy News – Baghdad  Economic expert, Mustafa Akram Hantoush, described the establishment of the first Rafidain Bank as an “excellent step.”

Yesterday, Monday, the Council of Ministers decided to establish the First Rafidain Bank with a capital of one trillion dinars and a government participation rate of 24%.

Hantoush told Al-Eqtisad News, "Establishing the First Rafidain Bank is an excellent step, especially since it will be a mixed sector company."

He added that the new bank will help the state enhance its payment and electronic transaction capabilities, in addition to assisting the Trade Bank of Iraq in transfers and credits. 1250 views - https://economy-news.net/content.php?id=51928

l-Sudani Confirms To The British King: We Are Determined To Strengthen Bilateral Relations

Political | 04:12 - 01/14/2025  Mawazine News – Baghdad  Prime Minister Mohammed Shia al-Sudani affirmed, on Tuesday, Iraq's determination to consolidate bilateral relations with Britain in various fields.

Al-Sudani's office stated in a statement received by (Mawazine News), "The latter met, today, Tuesday, with the King of the United Kingdom, Charles III, at Buckingham Palace in the British capital, London, and they reviewed bilateral cooperation between Iraq and the United Kingdom, and ways to establish a productive partnership in various economic and development fields.

They also discussed cooperation in the field of confronting the challenges of climate change, and opportunities to enhance cultural cooperation."

Al-Sudani expressed his "appreciation for the official invitation he received to visit Britain, stressing Iraq's determination to consolidate constructive bilateral relations in various fields, in a way that enhances the mutual and sustainable interests of the Iraqi and British peoples."

For his part, King Charles III of Sudan pointed to "the depth of the historical relationship between Iraq and Britain, and the prominent importance that the governments of the two countries attach to developing common interests and understandings at various levels." https://www.mawazin.net/Details.aspx?jimare=258583

Iraq Stock Exchange Trades 57 Billion Shares In A Month

Stock Exchange   Economy News – Baghdad   The Iraq Stock Exchange announced today, Tuesday, that 57 billion shares were traded with a financial value of 55 billion dinars during last December.

The market stated in a report reviewed by "Al-Eqtisad News" that "the market organized 20 trading sessions and the number of companies whose shares were traded during December amounted to 74 joint-stock companies out of 104 companies listed on the market."

The report added that "the number of traded shares reached 57 billion, 862 million, and 320 thousand shares, with a financial value of 55 billion, 652 million, and 595 thousand dinars, through the execution of 15,136 transactions," indicating that "the ISX60 traded price index closed at 1,073 points, recording an increase of 4% from its closing in the previous session."

It is noteworthy that the Iraq Stock Exchange organizes five trading sessions weekly from Sunday to Thursday, with the participation of 104 Iraqi joint-stock companies representing the banking, communications, industry, agriculture, insurance, financial investment, tourism and hotels sectors. 89 views 01/14/2025 - https://economy-news.net/content.php?id=51939

 

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