The Iraqi Parliament Confirms Its Readiness To Legislate The Oil And Gas Law.

Shafaqna Iraq - Parliamentary statements confirmed that there is a trend within the House of Representatives to legislate the oil and gas law, in addition to working on developing non-oil resources and reducing dependence on the public sector.  

Member of Parliament, Youssef Al-Kalabi, announced the readiness of Parliament to legislate laws supporting the national economy, foremost among them the oil and gas law, calling for the activation of the suspended clauses to maximize state revenues outside the oil sector, while praising the recent Cabinet decisions and describing them as having put its finger on the “source of the problem.”

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Wall Street Near Record Highs as Lower Oil Prices and Cooling Inflation Lift Investor Confidence

U.S. stock markets remain near record highs as declining oil prices, easing inflation pressures, and expectations for a more patient Federal Reserve continue to support investor optimism. With corporate earnings season beginning, markets are looking for confirmation that economic growth remains resilient.

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U.S. Labor Market Cools as Weak Jobs Report Reshapes Federal Reserve Expectations

A weaker-than-expected June employment report has strengthened expectations that the Federal Reserve may pause interest rate increases, as slower hiring points to a cooling labor market despite a stable unemployment rate.

Iraq Promises Rewards For Reporting Stolen Public Funds

Baghdad (IraqiNews.com) – Iraqi Prime Minister Ali al-Zaidi urged citizens on Saturday to report stolen public funds, promising rewards for those who assist in recovering embezzled money as part of a national crackdown on corruption.

Al-Zaidi called on all people to disclose public assets and finances gained via corruption offenses and to participate in exposing, retrieving, and returning them to the state, according to a statement released by the Prime Minister’s Office (PMO).

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OPEC+ Boosts Oil Production as Falling Energy Prices Lift Global Markets

OPEC+ has agreed to increase oil production for a fifth consecutive month as shipping through the Strait of Hormuz continues to recover, helping push crude prices lower. The decline in energy prices has improved investor confidence, eased inflation concerns, and strengthened expectations that the Federal Reserve may have greater flexibility on interest rates.

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Iran and Qatar Resume Maritime Trade as Strait of Hormuz Shipping Returns Toward Normal

Iran and Qatar have officially resumed maritime trade after a five-month suspension, marking another sign of improving regional stability following months of conflict. The reopening supports broader efforts to restore commercial shipping through the Strait of Hormuz while ongoing U.S.-Iran technical negotiations continue in Doha.

USD/IQD Dips Below 154,000 In Baghdad And Erbil

2026-07-05 03:44    Shafaq News- Baghdad/ Erbil   The US dollar opened Sunday’s trading lower in Iraq, hovering around 154,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,900 dinars per 100 dollars, down from the previous session’s 154,250 dinars.