Putin calls Sudani over Middle East tensions

Prime Minister Mohammed Shia al-Sudani discussed, on Thursday, with Russian President Vladimir Putin via a phone call, the tensions in the Middle East and the joint relations between the two countries.

A statement from Al-Sudani’s office, received by Shafaq News Agency, stated that the latter received a phone call from Russian President Vladimir Putin, during which they discussed the joint relations between Iraq and the Russian Federation, and ways to develop them, in a way that achieves the mutual interests between the two friendly countries.

The call addressed developments in the region, stressing the importance of major countries making more efforts to end the war and prevent it from expanding in a way that threatens stability in the region and the world.

The phone call touched on the issue of energy and the importance of coordination between all concerned countries, within OPEC and the OPEC Plus group, in order to stabilize oil and gas prices within an equation that guarantees fair prices for exporters and consumers.

In turn, the Kremlin said in a statement, “President Vladimir Putin had a phone call with Iraqi Prime Minister Mohammed al-Sudani, during which issues of bilateral cooperation in the fields of trade, economy, transport, logistics and humanitarian services were discussed,” according to the Russia Today Arabic website.

“Special attention was paid to the implementation of large-scale projects in the energy sector and the mutual goodwill to continue expanding friendly and mutually beneficial relations was noted,” he added.

The statement pointed out that “various aspects of joint work within the framework of OPEC+ were discussed, which allows for maintaining the stability of the global oil market, and the importance of continuing to coordinate steps in this regard was emphasized.”

The statement indicated that the Middle East issue was also discussed, in light of the unprecedented escalation of tension in the region.

Shafaq.com

Central Bank of Iraq sales exceed $6 billion in a month

The Central Bank of Iraq’s sales from the hard currency auction of the US dollar during October amounted to more than 6 billion dollars.

Shafaq News Agency correspondent stated that the Central Bank sold, during the days in which it opened its auction for buying and selling the US dollar in October, 6 billion, 38 million, 229 thousand, and 179 dollars, at a daily rate of 274 million, 464 thousand, and 962 dollars.

Our correspondent added that foreign remittance sales last month amounted to $5 billion, 672 million, 463 thousand, and 159, an increase of 94% compared to cash sales, which amounted to $365 million, 766 thousand, and 20.

Our correspondent pointed out that these sales were distributed between transfers abroad to finance foreign trade, and cash sales to banks, where the selling price of documentary credits and international settlements for electronic cards reached 1310 dinars per dollar, while the selling price of transfers abroad and the cash selling price reached 1305 dinars per dollar.

Shafaq.com

The population census process has begun in all of Iraq

This Wednesday morning, the general population census process began throughout Iraq, as population census teams began spreading throughout Iraq to conduct the first population census since 1997.

These measures were launched with the imposition of a curfew throughout Iraq, which began at 12 midnight last night and will continue until next Friday.

Burathanews.com

Economist: Iraq has the ability to overcome the decline in oil prices

Economic researcher Diaa Abdul Karim confirmed on Tuesday that Iraq can overcome any decline in global oil prices, noting that there are many projects that have the ability to cover the decline in oil prices.

Abdul Karim said in a statement to Al-Maalouma Agency, “Iraq’s move to export oil derivatives represents a major qualitative shift and a new source of revenues entering the state treasury, instead of relying entirely on crude oil exports and the country being affected by any rise or fall in prices.”

He added, “Employees’ salaries are secured in the Central Bank and will not be affected by any sudden drop in oil prices, although this drop will not last long, especially in light of the unstable situation in the region that directly affects oil prices.”

He pointed out that “Iraq is on its way to reducing its dependence on crude oil exports, as the move towards exporting derivatives gives the country the opportunity to achieve revenues much higher than crude exports, which is a matter that pushes towards changing policies towards the process of building the budget, whether investment or operational.”

Almaalomah.me

Economist: The government is relying on weak reasons to diversify non-oil sources

Economic expert Diaa Mohsen confirmed today, Tuesday, that the government is relying on weak reasons to diversify non-oil sources of income.

Mohsen said in an interview with Al-Maalouma Agency: “The government was supposed to benefit from its oil revenues to diversify non-oil sources of income.”

He added that “investment in the agricultural, industrial and tourism sectors through the allocation of oil revenues, which could be an important source of funding for the budget,” indicating that “the government is relying on weak reasons and does not rise to the level of the problem.”

He pointed out that “the government is talking about the lack of water revenues while it is cultivating more than 12 million dunums with the consumption of 26 billion cubic litres of water, while it could have used 900 million cubic metres through modern agricultural techniques and saved the rest to produce other agricultural crops, which would be another resource for the budget.”

He pointed out that “there are external connections among suppliers that aim to serve the importing countries more than Iraq.”

Almaalomah.me

A global website predicts the population of Iraq for the year 2025

The German website Statista expected that the population of Iraq in 2025 will reach more than 45 million people.

The website said in a report seen by Shafaq News Agency, “The population of Iraq in 2025 will reach 45 million and 520 thousand people,” indicating that “the population of Iraq for the current year reached 44 million and 420 thousand.”

He added, “The total population of Iraq is constantly increasing between 2024 and 2029 by a total of 5.6 million people, and the total population is expected to reach 50.06 million people.”

Shafaq.com

Parliamentary Finance Committee reveals the “impacts” of the population census on “provincial budgets”

Member of the Parliamentary Finance Committee, MP Jamal Kojer, confirmed on Tuesday that the population census will re-budget all governorates, indicating that the results of the census will be adopted in the budget if it is completed before the budget is prepared.

Kocher said in an interview with Shafaq News Agency, “It is supposed to re-prepare the budget of all governorates, including the governorates of the Kurdistan Region, based on the population census on the one hand, on the resources on the other hand, and on the sensitivity of the region on the third hand.”

He added, “There are governorates with high population density and therefore they must be taken into consideration in the upcoming budget. There are some governorates that lack resources or have resources, and these resources have social and health implications. Some governorates have a strategic dimension, for example Basra, Baghdad and Erbil, or some are gateways for the state with other countries.”

He stressed that “the population census will have its effects in the next budget if the budget is prepared after the completion of the population census. However, if it is not completed, it will be postponed to the 2026 budget to adopt the census results.”

Shafaq.com

What did Iraq achieve in its meetings with the US Treasury, and did it succeed in controlling the sale of the dollar?

The Central Bank of Iraq announced progress in monitoring procedures for foreign transfers and sales operations. Dollar Monetary and providing protection to the banking and financial sector from the risks of money laundering operations, following the ongoing discussions of the Central Bank Iraqi With the Federal Reserve and the US Treasury.

The bank’s governor, Ali Al-Alaq, said in press statements that “the ongoing quarterly meetings with the Federal Reserve and the US Treasury Department, within the framework of organizing operations and coordination between the two sides, which have close relations, led to…The agreement on procedures and formulas that are consistent with best practices and standards. International The latest was the plan to organize foreign transfer operations by rebuilding them according to new standards and methods.”

Al-Alaq stressed that “Iraq has achieved 95% progress in terms of monitoring procedures for foreign transfers and currency sales operations. “Dollar Cash and provide protection to the banking and financial sector from the risks of money laundering operations.

In July 2023, the US Treasury imposed sanctions on 14 banks, and months before that, similar sanctions were imposed on 4 other Iraqi banks after they were accused of money laundering.

The Iraqi government continues through the Central Bank Iraqi It has been negotiating for about two years with the US Treasury Department to lift sanctions on these banks, all of which are private banks.

Alsumaria.tv

Gold Reserves Jump: Iraq Exceeds 150 Tons of ‘Cash Gold’

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Tuesday, a jump in Iraq’s gold reserves after it exceeded 150 tons of gold.

Saleh told {Euphrates News} that: “The cash gold in Iraq’s foreign reserves constitutes a percentage that may not exceed 10% to 11% of the total investment portfolio management of those reserves.”

He added, “This percentage is usually determined by the standard guidelines issued by the International Monetary Fund on how to manage the optimal sovereign investment portfolios according to risk management and their distribution between liquid and semi-liquid assets and official cash gold.

” Saleh explained, “The latest information indicated that our country’s balance of official cash gold may have exceeded the barrier of 150 tons of pure gold.”

Gold prices rose slightly on Tuesday, but remained hovering around the lowest level in a month, while investors await US economic data and comments from Federal Reserve officials for more clarity on the path of interest rates.

Spot gold rose 0.2% to $2,624.17 per ounce after recording its lowest level since October 10 on Monday. U.S. gold futures gained 0.5 percent to $2,630.10.

The dollar held near a four-month high as bets on President-elect Donald Trump’s policies continued to weigh. A stronger dollar makes gold less attractive to holders of other currencies.

Among other precious metals, spot silver was little changed at $30.70 an ounce. Platinum fell about 0.2 percent to $962.80, while palladium was steady at $980.34.

Alforatnews.iq

Iraq selects 11 companies to compete for Faw Grand Port operation contract

Shafaq News / The Director General of the General Company for Iraqi Ports, Farhan Al-Fartousi, revealed today, Tuesday, that a shortlist of 11 shipping companies has been drawn up to compete for the contract to operate the Grand Faw Port.

A decision on the winners is expected in January 2025, Reuters reported.

The shortlist includes prominent companies such as China Merchants Port Group, Taiwanese container shipping company Evergreen, French container and freight company CMA-CGM, Mediterranean Shipping Company (MSC), India’s Adani, International Container Terminal Services (based in the Philippines), China’s COSCO, and the UAE’s Global Shipping, Al-Fartousi said.

The port is one of the most prominent economic projects that will contribute to supporting the Iraqi economy, as it is expected to provide 150,000 job opportunities.

Last Saturday, November 8, the five berths of the first phase of the project were delivered, with 100% of them completed. These berths are part of the wider project that also includes the navigation channel, the container yard, and the submerged tunnel.

Iraqi Prime Minister Mohammed Shia al-Sudani described the port as a project of the “Iraqi people,” while the Minister of Transport stressed the importance of the port as a pillar of economic growth in Iraq and the region.

The project is expected to generate huge revenues and enhance economic diversification away from oil dependence. The port is also expected to contribute to enhancing trade between Iraq, Asia and Europe, and reflects an important transformation in Iraqi infrastructure.

The project is receiving international attention, as delegations from Turkey and other countries have visited it to see its developments. The first phase of the port is expected to open at the end of 2025, with five of the 99 berths set to begin operation.

Shafaq.com