Iraq Economic News and Points to Ponder Tuesday Afternoon 12-10-24
Dollar Prices Drop Slightly In Baghdad and Erbil At Closing
Economy | 10/12/2024 Mawazine News – Economy The US dollar exchange rate in the Iraqi capital Baghdad witnessed a slight decline on Tuesday evening, and prices in Erbil, the capital of the Kurdistan Region, recorded a similar decline with the closing of the stock exchanges.
The dollar prices also decreased with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 150,700 dinars per 100 dollars, compared to 150,800 dinars in the morning.
Selling prices stabilized in the local exchange markets in Baghdad, where the selling price reached 151,750 dinars per 100 dollars, while the purchase price reached 149,750 dinars per 100 dollars.
In Erbil, the dollar also recorded a slight decline, where the selling price reached 150,400 dinars per 100 dollars, while the purchase price recorded 150,300 dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=257307
Baghdad Stock Exchange closes higher... 151,750 dinars per 100 dollars
Money and business Economy News – Baghdad The US dollar exchange rate continued to rise against the Iraqi dinar, with the closing of trading at the Al-Kifah Stock Exchange in Baghdad.
The selling price in exchange shops was recorded at 151,750 dinars for 100 dollars, while the purchase price was 149,750 dinars for 100 dollars.
Amid the discrepancy between the official and parallel price, most local markets are experiencing a state of stagnation due to their impact on the US dollar. https://economy-news.net/content.php?id=50730
Gold Rises 0.6 Percent
Time: 2024/12/10 17:16:08 Reading: 247 times {Economic: Al Furat News} Gold prices rose during trading on Tuesday, supported by the escalation of geopolitical tension in the Middle East and expectations of a reduction in US interest rates during the current month.
Investors are awaiting key US inflation data due later this week.
Spot gold rose 0.6 percent to $2,674.39 an ounce by 11:01 GMT.
As for other precious metals, silver rose in spot transactions by 0.1 percent to $31.85 per ounce, platinum fell by 1 percent to $938.11, while palladium fell by 0.2 percent to $972.67. LINK
Globally.. Slight Decrease In Oil Prices
Economy | - 10/12/2024 Mawazine News – Baghdad Oil prices edged lower on Tuesday, holding onto most of their gains from the previous session, as heightened geopolitical risks following events in Syria and China’s pledge to increase fiscal stimulus helped support prices.
Brent crude futures were down 13 cents, or about 0.2%, at $72.01 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 14 cents, or also 0.2%, at $68.23.
Both futures rose more than 1% on Monday. https://www.mawazin.net/Details.aspx?jimare=257298
Minister Of Culture: Crowning Baghdad As The Arab Tourism Capital Will Create Many Investment Opportunities
Local | 10/12/2024 Mawazine News – Baghdad Minister of Culture and Antiquities Ahmed Fakak Al-Badrani confirmed today, Tuesday, that crowning Baghdad as the capital of Arab tourism will create many investment opportunities, while indicating that this coronation will increase job opportunities in popular markets and professions.
Al-Badrani told the official agency: "18 items were included on the agenda of the Executive Council of Arab Tourism Ministers, the most prominent of which is choosing the capital of Arab tourism," noting that "the support of Prime Minister Mohammed Shia Al-Sudani and the efforts made in Baghdad by everyone culminated in the council's unanimous vote to make beautiful and beloved Baghdad the capital of Arab tourism for the year 2025."
He explained that "this is one of the great achievements made under the government of the Prime Minister, and the assistance of the Council of Ministers and all ministries contributed to achieving this decision," noting that "the Baghdad Municipality made great efforts in achieving this, in addition to the entire ministry's staff represented by the Tourism Authority, the Antiquities Authority and the Culture Directorate in the ministry, which made great efforts to show the beauty and splendor of the beautiful nights of Baghdad."
He added, "This is good news for all Iraqis that Baghdad, which history has turned its back on for a while, has returned strongly to Arab circles and the international community to be the capital of Arab tourism and a destination for tourists in 2025," indicating that "this is a great achievement for the government and in the coming days many details about this issue will be revealed."
Al-Badrani pointed out that "this issue has many importance, the first of which is to shed light on the fact that Baghdad has returned as a safe and secure city that sleeps peacefully on the banks of the Tigris and welcomes with open arms all tourists from everywhere, in addition to Baghdad being a large library represented by Mutanabbi Street and the universities in Baghdad."
He stressed that "this decision has an important economic aspect, as tourism has stopped and been disrupted for many known reasons, but now Baghdad will be crowded and there will be great job opportunities and many in the popular markets and professions," indicating that "many owners of capital will try to come to Baghdad to look for an investment opportunity."
Iraq Development Fund Announces Imminent Launch Of 4 Basic Projects
Mohammed Al-Najjar Construction and reconstruction Economy News - BaghdadOn Tuesday, the head of the Iraq Development Fund, Mohammed Al-Najjar, revealed the fund’s future plans, while confirming the imminent launch of 4 basic projects.
Al-Najjar said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the fund has spent the first year of its work arranging and organizing its affairs, given that it is a completely new experience in Iraq, and has no local backgrounds," noting that "international companies and institutions were used to support it in this field."
He added that "during the second year, the focus was on 4 basic projects that will be launched soon through (Ejr wa Tamlik), and now we are ready to start the projects that we promised the public."
He pointed out that "during the coming period, new projects will be announced, approximately every month, with a new announcement," noting that "each project goes through preparation and study stages that may take from 6 to 7 months in order to reach convictions that these projects are good and serve citizens by preparing correct partners and financing because we work extensively with the private sector." He continued: "Soon, many projects will appear on the ground."
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