Iraq Economic News and Points To Ponder Wednesday Evening 10-1-25
The Exchange Rate Declined In Local Markets In Baghdad.
Economy | 11:42 - 01/10/2025 Mawazine News – Baghdad The exchange rate of the dollar against the dinar decreased this Wednesday morning in Baghdad markets.
The dollar price witnessed a decrease with the opening of the Al-Kifah and Al-Harithiya stock exchanges to 141,500 dinars for every $100, while yesterday morning it recorded 141,600 dinars for every $100.
In exchange shops in local markets in Baghdad, the selling price of the dollar decreased to 142,500 dinars for every $100, and the buying price to 140,500 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=267659
Gold Hits New Record High
Stock Exchange Gold prices rose to a record high on Wednesday, supported by a weaker dollar and safe-haven demand following the U.S. government shutdown, while weak jobs data reinforced expectations of an interest rate cut by the Federal Reserve this month.
As of 10:55 GMT, spot gold was up 0.2% at $3,866 per ounce, after hitting an all-time high of $3,895 earlier in the session. U.S. gold futures for December delivery rose 0.5% to $3,893.
The dollar weakened, opening up new opportunities for a basket of other major currencies, making dollar-denominated gold more accessible to foreign buyers. https://economy-news.net/content.php?id=60607
Oil Prices Rise Slightly After Sharp Declines Over The Past Two Days.
Time: 2025/10/01 Reading: 90 times {Economic: Al Furat News} Oil prices stabilized in early trading on Wednesday, following two consecutive days of losses, as investors assessed potential OPEC+ plans to increase production next month amid expectations of shrinking US crude oil inventories.
Brent crude futures for December delivery rose 12 cents to $66.15 a barrel, while U.S. West Texas Intermediate crude rose 12 cents to $62.49 a barrel.
Oil prices fell more than 3% on Monday, the largest daily drop since August 1, and fell at least 1.5% on Tuesday. LINK
Opening Of A New Branch Of The Bank Of Jordan In Basra
Wednesday, October 1, 2025, | Economics Number of reads: 284 Basra / NINA / A new branch of the Bank of Jordan was opened in Basra Governorate, in the presence of the Chairman of the Financial and Administrative Committee, Dr. Shukr Mahmoud Al-Amri, and the General Manager of the Bank Group, Saleh Rajab Hammad, at the Grand Millennium Hotel - Al-Farahidi Hall.
Al-Amri stressed: "The opening of the branch represents a qualitative addition to the infrastructure in the field of modern banking services, and opens broad horizons to attract investments and support the private sector, which contributes to the development of the local economy.
He added: "Basra, with its economic potential and attractive environment, is a promising destination for investors at the local, regional and international levels, indicating that this step comes in support of the banking sector and the enhancement of economic activity in the governorate. / End https://ninanews.com/Website/News/Details?key=1254669
The Prime Minister's Advisor Sets Six Criteria For Selecting Iraq Development Fund Projects.
Money and Business Economy News – Baghdad Mohammed Al-Najjar, Advisor to the Prime Minister for Investment Affairs and Executive Director of the Iraq Development Fund, explained on Wednesday the criteria for selecting Iraq Development Fund projects, stressing that education, water, and the environment are priorities among the Fund's projects.
Al-Najjar said, in an interview with the Iraqi News Agency, followed by "Al-Iqtisad News," that "there are a set of criteria for selecting projects. The first is the amount of human capital that will be created through the project, including operators, engineers, and experts.
The second criterion is to engage in solving any of the crises that Iraq is going through, so that it can be resolved. We do not enter projects simply because they are profitable."
He added, "Another criterion is the possibility of involving the private sector in the project, as it must contribute no less than 80%, in order to optimally utilize capital, spread it across a large number of projects, and create investment outlets, as the private sector has significant funds outside the banking system and the economy."
He continued, "The fourth criterion is environmental impact, the fifth is economic impact, and the sixth is the ability of the company we partner with to finance and obtain international funding."
He explained that "most projects, if they are from a foreign party, we try to pair them with an Iraqi investor, to give the Iraqi investor the opportunity to learn the administrative capabilities possessed by the foreign investor."
He pointed out that "the Fund is not a legal entity that grants exemptions or incentives. Iraqi law does not grant these powers to the Fund; rather, they fall under the Parliament's purview.
With the approaching elections and the legislative process stalled pending the formation of a new government, we will seek in the next session to grant incentive powers to relevant institutions, such as the Investment Authority, to develop the Iraqi economy."
He explained, "The Fund sees the project and its importance, as there are no divisions similar to those of the state. However, our priority programs are education, water, and the environment, and the projects we excel at are those that require state support but can generate profits."
He pointed out that "a large part of the fund's purpose is to establish a social stratum whose goal is to find ways to engage young people, who constitute the largest percentage. However, so far, implementation will be slow, despite the presence of major initiatives from the current government. Therefore, we need to launch projects that include young people as a key component."
https://economy-news.net/content.php?id=60595
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