Sunday, February 5

PM directs the establishment of mechanisms to protect the local product from various types of poultry products / more

Business
Baghdad The Prime Minister, Muhammad Al-Sudani, directed the formation of a committee to develop clear mechanisms to protect the local product from various types of poultry products.A statement by his media office stated that Al-Sudani chaired a meeting dedicated to discussing the reality of the poultry production sector in the country.Al-Sudani stressed, according to the statement, the importance of diversifying the national economy through this productive outlet, as well as the priority of securing food security for citizens, as stated in the economy axis within the government program.The Prime Minister directed to make accurate estimates regarding the production capacity of this sector at the national level, to review decisions related to the management and development of this wealth, a...

Close to $84.. Oil prices record a new high

Business
Baghdad Oil prices recorded, this evening, an increase after 3 days of decline, to approach $84 a barrel.Brent crude futures contracts reached $83.71 a barrel, after closing yesterday at $82.17.The price of US crude in futures contracts reached $76.79, and it had closed yesterday at $75.88.Source: National Iraqi News Agency

The US Treasury confirms its support for achieving economic stability in Iraq

Business
Baghdad The US Treasury Department affirmed its support for achieving economic stability in Iraq.The media office of the Central Bank of Iraq said in a statement: "The CBI's governor, Ali Mohsen Al-Alaq, and his accompanying delegation, concluded this evening, Friday, his meetings with US Assistant Secretary of the Treasury Brian Nelson and his accompanying delegation in Turkey."It explained that: "During the meeting, they discussed prospects for cooperation and coordination between the two sides, in a way that contributes to achieving the stability of the exchange rate in Iraq and the mechanisms related to that."The statement added: "The US Treasury Department expressed its support for achieving economic stability in Iraq, referring to strengthening what was discussed between the Prime Mi...

Iraq ranks 15th in the Arab Economies Competitiveness Index

Business
Baghdad The Arab Monetary Fund revealed that Iraq ranked 15th in the Arab Economies Competitiveness Index.In the Arab Economies Competitiveness Report 2022, it was stated that the UAE maintained the first place in the Arab economies competitiveness index, as a result of its acquisition of the first place in the investment environment and attractiveness index.It added that Qatar came in second place in the general index of competitiveness of Arab economies, while Saudi Arabia, Kuwait, Sultanate of Oman and Bahrain ranked third, fourth, fifth and sixth, respectively.The statement indicated that Morocco came seventh, Jordan eighth, Tunisia ninth, and Egypt tenth.Algeria ranked 11th, Mauritania 12th, Lebanon 13th, Libya 14th, Iraq 15th, Yemen 16th and Sudan 17th.Source: National Iraqi News Age...

US Stock Market Closes Mixed

Business
New York,US stock market indexes recorded a mixed performance tonight at the close of the trading session on the New York Stock Exchange.The Standard & Board 500 index closed up 60.55 points, or 1.47%, to 4179.76 points, and the Nasdaq Composite Index increased by 348.50 points, or 3.25%, to close at 12200.82 points.While the Dow Jones Industrial Average decreased by 39.02 points, or 0.11%, to 34053.94 points.Source: Saudi Press Agency

The CBI issues the first package of facilities to meet the demand for the dollar

Legal-Judicial
Baghdad The Central Bank of Iraq issued the first package of facilities to meet the demand for the dollar in both sides of cash and external transfers.A statement of the Central Bank stated: “The package includes the following:1- Increasing the ceiling of cash sales for travel purposes to (7,000) dollars per month (seven thousand dollars per month), and selling them to adults (18 years and over) exclusively.2- The sale of the dollar for the purposes of personal transfers will be through agents of money transfer companies (Western Union and Money Gram) at the official price (1470) dinars to the dollar, and the Central Bank of Iraq will strengthen the balances of these agents in dollars at the official price.3- Expanding the scope of transactions allowed to be financed in foreign currency to...