Business

Member of Parliament, Ali Faisal Al-Fayyad, warned against adopting the price of a barrel of crude oil in the budget law at 70 dollars per barrel.Al-Fayyad pointed out in a statement: The danger of keeping the price of a barrel of crude oil at $70 in the budget, as it represents a great danger to the operating budget, which is the largest in the current draft law.He said: The global oil prices are subject to a continuous decline or collapse, depending on international factors, as happened in the past years.Al-Fayyad stressed: the necessity of taking a firm and clear stance towards the fluctuations of the oil market and setting a vision commensurate with the country's needs from the general budget in a way that serves the public interest.Source: National Iraqi News Agency

Baghdad Oil prices fell by more than $5 a barrel at the close of trading today, Wednesday, to their lowest levels in more than a year.Brent crude fell $3.76, 4.9%, and settled at $73.69 a barrel.US West Texas Intermediate crude also fell $3.72, 5.2%, to $67.61 at settlement.The two benchmarks lost more than 4% yesterday, Tuesday, and recorded their lowest levels in 3 months, under pressure from fears that the collapse of Silicon Valley Bank and another US bank would lead to a financial crisis that would affect fuel demand./ EndSource: National Iraqi News Agency

The price of 95-octane gasoline increased by 27 thousand pounds on Saturday, while the 98-octane gasoline increased by 28 thousand pounds, and diesel fuel by 25 thousand pounds.Accordingly, the prices are now as follows:- Gasoline 95: LBP 1,990,000- Gasoline 98: LBP 2,038,000- Diesel: LBP 1,881,000Source: National News Agency-Lebanon

Baghdad The Minister of Trade, Atheer Al-Ghurairy, discussed with the Iranian Minister of Economic and Financial Affairs, Ihsan Khandozi, prospects for trade cooperation between the two countries.A statement from the Ministry of Trade stated, today, Monday, that "Trade Minister Atheer Al-Ghurairy received the Iranian Minister of Economic and Financial Affairs, Ihsan Khandozi."The statement added that "the two sides discussed prospects for trade cooperation between the two countries."Source: National Iraqi News Agency

Baghdad The Iranian Assistant Foreign Minister for Economic Diplomacy Affairs, Mehdi Safri, announced that the fifth meeting of the joint economic committee between Iran and Iraq will be held in Baghdad today and will last for three days.Safri said in a statement, according to IRNA, that following the consultations that took place with Iraqi officials within the framework of the current Iranian government's interest in holding meetings of joint economic committees with target countries, especially neighboring countries, the fifth meeting of the joint economic committee between the Islamic Republic and Iraq will be held in Baghdad during the period from March 12 to 14, 2023.He indicated that this meeting will discuss important issues of cooperation in various fields, including banking, tran...

Minister of Industry and Commerce, Abdulla bin Adel Fakhro, affirmed the continuous development and growth of historical relations between Bahrain and the USA.This came as he participated as a keynote speaker in the business luncheon organised by the American Chamber of Commerce (Amcham) in Bahrain at the Diplomat Hotel, in the presence of Amcham president, Quay H. Zu'bi, and a number of officials and stakeholders. A number of upcoming projects between the two countries were reviewed.The Minister of Industry and Commerce also pointed to the government's programme (2023-2026) "From Recovery to Sustainable Growth", reviewing the efforts and initiatives of the Ministry of Industry and Commerce to support new opportunities and economic investments in priority sectors and industries and ways to...