Iraq Economic News and Points to Ponder Tuesday Afternoon 1-6-25
The Dollar Rises Again In The Iraqi Markets With The Closing Of The Stock Exchange
Economy 01/07/2025 Mawazine News – The US dollar prices witnessed a slight increase today, Tuesday, in the markets of the capital Baghdad and Erbil, the capital of the Kurdistan Region, with the closure of the main stock exchange in the country.
The dollar prices rose with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 151,000 dinars per 100 dollars, compared to 150,900 dinars this morning.
As for the selling prices in the local exchange markets in Baghdad, they stabilized, as the selling price reached 152,000 dinars per 100 dollars, while the purchase price reached 150,000 dinars per 100 dollars.
In Erbil, the dollar also recorded a slight increase, as the selling price reached 150,800 dinars per 100 dollars, while the purchase price reached 150,700 dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=258308
Gold Prices Stabilize In Baghdad
Stock Exchange Economy News – Baghdad The prices of "foreign and Iraqi" gold stabilized in the local markets in the capital, Baghdad, today, Tuesday (January 7, 2025).
Gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 556 thousand dinars, and a purchase price of 552 thousand dinars.
The selling price of one mithqal of 21-karat Iraqi gold reached 526 thousand dinars, and the purchase price was 522 thousand.
As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 560,000 and 570,000 dinars, while the selling price of a mithqal of Iraqi gold ranges between 530,000 and 540,000 dinars. https://economy-news.net/content.php?id=51693
Oil Prices Fall As Dollar Rises
Economy | 01/07/2025 Mawazine News - Follow-up Oil prices extended losses for a second straight session on Tuesday, weighed down by a stronger dollar and expectations of ample supply.
Brent crude futures fell 28 cents, or 0.37 percent, to $76.02 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 33 cents, or 0.45 percent, to settle at $73.23.
Both benchmarks rose for five straight days last week, and settled at their highest since October on Friday, partly on expectations of more fiscal stimulus to revive China’s economy. https://www.mawazin.net/Details.aspx?jimare=258286
Iraqi Stock Exchange Witnesses A 9% Increase During The First Hours
Stock Exchange Economy News – Baghdad The Iraqi Stock Exchange opened today, Tuesday, the first morning session in the year 2025, with an increase of 9.13%.
This increase is due to the improvement in the general situation, in addition to the increase in demand for the shares of the Baghdad and Al-Ahly Banks after the cancellation of the dollar platform by the Central Bank of Iraq.
In the first hour, the stock exchange traded more than 275 million shares, worth more than 400 million dinars, through the conclusion of more than 200 deals.
The Baghdad Bank share achieved a growth of 1.42%, reaching 4.3 dinars, the National Bank of Iraq share by 2.4%, reaching 3.85%, and the Pepsi Baghdad share by 0.94%.
Al-Maamoura Real Estate Company’s stock suffered a loss of about 7%, due to the corrective wave, after the increase in demand for it during the past few days, due to obtaining a permit to build a residential complex in the Ghazaliya area. https://economy-news.net/content.php?id=51694
Iraq Stock Exchange Lists Third Issue Of Injaz Bonds For Trading
Stock Exchange Economy News – Baghdad The Iraq Stock Exchange decided to list the third issue of Injaz bonds for trading in the market.
In October 2024, the Ministry of Finance announced the third issuance of achievement bonds worth 1.3 trillion dinars, with an interest rate of 6.5% for the 500,000 category and 8.5% for the one million dinar category.
The Iraq Stock Exchange said that the third issue of Injaz bonds was listed on the bond platform, and will be traded with a percentage change in the price determined, up or down by 5% of the calculated price of the bond on the same day. The market set the commission of financial brokerage companies at one thousand dinars or a commission rate of 0.003%. https://economy-news.net/content.php?id=51696
Government Communication Announces The Start Of Monitoring The Electronic Payment System (POS) In Pharmacies
Money and business Economy News – Baghdad The Government Communication Team announced, on Tuesday, the start of following up on the electronic payment system (POS) in pharmacies, while confirming that 17,000 pharmacies are obligated to the system.
Adnan Al-Arabi, Deputy Head of the Government Communication Team, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "based on the directives of Prime Minister Mohammed Shia Al-Sudani to enhance the culture of electronic payment, the Government Communication Team held several meetings with the Minister of Health and the Pharmacists Syndicate, during which it was agreed to introduce the electronic payment system (POS) in pharmacies, which number about 17,000 pharmacies, and January 1, 2025 was also set as the final date for implementing this system in all pharmacies."
He added that "the government communication began, in cooperation with the Ministry of Health, the Control Department and the Pharmacists Syndicate, to follow up on the pharmacies' implementation of the electronic payment system."
He pointed out that "the Central Bank of Iraq and companies providing electronic payment services are part of these efforts, along with the Pharmacists Syndicate, which will work to urge pharmacies and oblige them to use payment devices," noting that "citizens will not be forced to use payment cards, but in pharmacies the matter has become mandatory, with the placement of a clear sticker to announce the availability of a (POS) device to receive payments via electronic cards."
https://economy-news.net/content.php?id=51708
Al-Mashhadani Discusses Developments In The Region With The US Chargé d'Affaires
Political | 03:42 - 01/07/2025 Mawazine News – Baghdad Parliament Speaker Mahmoud Al-Mashhadani discussed, on Tuesday, strengthening relations between Iraq and the United States within the framework of common interests, stressing the need to continue dialogue and cooperation to support Iraq's stability and continue efforts to confront political and economic challenges.
A statement from Al-Mashhadani's office received by "Mawazine News" stated that "the Parliament Speaker received the Chargé d'Affaires of the US Embassy in Baghdad, Elizabeth Trudeau, in the presence of the Director of the Political Section at the Embassy, Michelle Siders, and discussed with him the general situation in Iraq, ways to enhance cooperation and existing partnership between the two countries, and affirmed the United States' support for Iraq in various fields, in a way that enhances stability and development in the country."
The statement indicated that "the meeting discussed a number of topics of common interest, including developments in the regional situation in the region and their effects on the Iraqi arena https://www.mawazin.net/Details.aspx?jimare=258299
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