Iraq Economic News and Points To Ponder Thursday Evening 12-18-25
Al-Waeli Meets With A UN Delegation And Confirms: Border Crossings Are Undergoing A Broad Digital Transformation Through The Introduction Of Modern Technologies
Thursday, December 18, 2025 | Politics Number of views: 242 Baghdad / NINA / The Head of the Border Ports Authority, Omar Adnan Al-Waeli, received an official delegation from the International Trade Centre (ITC), a United Nations agency based in Switzerland. The delegation was headed by Pierre Bonthoneau, Director of the Trade and Investment Facilitation Division, and included the Director of Trade Facilitation and Digital Transformation Programs and a Trade Policy Advisor. The meeting aimed to enhance cooperation and facilitate international trade.
Al-Waeli provided a detailed explanation of the Authority's work and efforts to maximize non-oil revenues and combat smuggling in all its forms. He emphasized that the Authority is undergoing a significant digital transformation through the introduction of modern technologies, data exchange among relevant stakeholders, the networking of sonar systems at all border crossings, and the activation of cross-border trade according to the TIR system.
Al-Waeli stressed the continued commitment to strengthening security and stability at border crossings, which will positively impact the volume of trade in Iraq and facilitate international trade.
For their part, the delegation members commended the Authority's measures in the areas of governance and electronic oversight, and expressed their admiration for the efforts exerted in combating smuggling and reconstructing border crossings. They affirmed their readiness to provide technical and training support to enhance the Authority's technical capabilities.
This visit reflects the International Trade Centre's interest in strengthening cooperation with the Border Ports Authority, with the aim of improving operational efficiency and promoting stability and economic development. /End
https://ninanews.com/Website/News/Details?Key=1267327
Gold Catches Its Breath Near The Peak, While Silver Continues To Approach Historic Highs.
Economy | 18/12/2025 Mawazin News - Follow-up: Gold prices stabilized while silver approached record highs on Thursday, supported by dovish signals from the Federal Reserve, ahead of key US inflation data due later this week.
Spot gold fell 0.2% to $4,332.29 per ounce by 02:56 GMT, after rising more than 1% late in Wednesday's session.
US gold futures also declined 0.2% to $4,364.70 per ounce.
The dollar index held onto its earlier gains after hitting its highest level in nearly a week, putting pressure on dollar-denominated gold prices.
In contrast, spot silver rose 0.2% to $66.44 per ounce, after reaching a record high of $66.88 in the previous session.
Silver has gained approximately 129% since the beginning of the year, surpassing gold's 65% gain, supported by strong industrial demand, investor interest, and declining inventories.
Data released earlier in the week showed the US unemployment rate rising to 4.6% in November, its highest level since September 2021, reinforcing expectations of continued accommodative monetary policy.
https://www.mawazin.net/Details.aspx?jimare=271732
Basra Crude Oil Price Falls Despite Global Rise
Thursday, December 18, 2025, | Economy Number of views: 271 Baghdad / NINA / Prices of Basra Heavy and Basra Medium crude oil fell on Thursday, despite rising global oil prices.
Basra Heavy crude dropped 50 cents, or 0.88%, to $56.42, while Basra Medium crude fell 50 cents, or 0.84%, to $58.97.
Global oil prices rose following reports that the United States is preparing to impose new sanctions on Russia's energy sector if Moscow does not agree to a peace deal with Ukraine. This comes as markets assess supply risks stemming from the US blockade on Venezuelan oil tankers. https://ninanews.com/Website/News/Details?key=1267322
Again, The Dollar Is Declining Slightly In Baghdad.
12/18/2025 Mawazin News – Baghdad: The exchange rate of the US dollar against the Iraqi dinar fell slightly this morning in Baghdad's markets.
The dollar dropped in Baghdad's main exchange bureaus, Al-Kifah and Al-Harithiya, to 142,600 dinars per 100 dollars, compared to 142,700 dinars per 100 dollars yesterday, Wednesday.
The selling price at currency exchange shops in Baghdad's local markets also decreased, reaching 143,000 dinars per 100 dollars, while the buying price was 142,000 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=271739
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