Baghdad, Iraq- Iraq is working on six key energy diversification strategies to phase out its reliance on Iranian gas and electricity by 2028. This move is aimed at avoiding US sanctions and stabilizing the country’s power supply, according to The Cradle.
Prime Minister Mohammed Shia Al-Sudani stressed that Iraq’s shift away from Iranian energy is driven by economic priorities rather than political pressure. As part of this shift,...
Baghdad, Iraq- Oil prices saw a modest rebound on Thursday, with Brent futures rising by 39 cents, or 0.56%, to $69.69 per barrel at 0416 GMT, and U.S. West Texas Intermediate (WTI) crude climbing 39 cents, or 0.59%, to $66.70 per barrel.
This uptick follows a sharp decline over the previous four sessions. Brent dropped 6.5% to its lowest level since December 2021, while WTI fell 5.8% to a low not seen since May 2023.
Yeap Jun Rong, market...
Baghdad, Iraq- Prime Minister Mohammed S. Al-Sudani chaired a meeting of the High Committee for Tax Reform on Wednesday, where he introduced the Digital Tax Inquiry Service as part of the Ur e-Services Platform.
This new service allows individuals, businesses, and companies to check their tax status electronically with greater speed, accuracy, and transparency. It also resolves issues related to name duplication, a...
Baghdad, Iraq- The Iraqi Council of Ministers has granted approval for the Minister of Finance, or her delegate, to sign a loan agreement with the Agence Française de Développement (AFD) to fund the Al-Hamza District Sewer Project in Al-Diwaniyah Province. This financing aligns with Federal Budget Law No. 13 of 2023, covering fiscal years 2023-2025, and supports the Ministry of Construction, Housing, Municipalities, and Public Works.
Alongside...
Prime Minister Mohammed S. Al-Sudani announced five major initiatives aimed at empowering women during the National Day of Iraqi Women celebration on March 3. These programs focus on leadership, security, and economic inclusion, aligning with the government’s broader commitment to strengthening women’s roles in society.
The Prime Minister unveiled the Third National Plan for Women, Peace, and Security (2025-2030) to boost women’s...
Baghdad, Iraq- Prime Minister Mohammed S. Al-Sudani met with Serbian Ambassador Branislav Žeželj on Tuesday to strengthen bilateral ties and explore new economic partnerships. The discussions focused on investment opportunities, trade expansion, and deeper collaboration between the two nations.
During the meeting, Ambassador Žeželj delivered an official invitation from the Serbian President, inviting Al-Sudani to visit Belgrade. Additionally, Iraq received...
Iraq's Federal Commission of Integrity (COI) has called on member states of the United Nations Convention Against Corruption (UNCAC) to strengthen legal cooperation in recovering stolen assets and illicit funds. The commission emphasized that these funds are crucial for national development and reconstruction efforts.
Iraq Pushes for Asset Recovery
During a meeting with Swiss Ambassador Daniel Hunn, COI Chairman Dr. Mohammed...
Baghdad, Iraq- The banking sector in Iraq experienced significant loan growth in the last quarter of 2024. The Central Bank of Iraq (CBI) reported a 5.4-percent increase in loans and advances, reaching IQD 64.12 trillion ($49 billion). This marked a rise from IQD 60.81 trillion in the same period of 2023.
This expansion highlights the growing demand for financial support....
Baghdad , Iraq- gold reserves experienced a significant increase in the fourth quarter of 2024, marking a 45.1% rise compared to the same period in 2023. The Central Bank of Iraq (CBI) announced this surge on Sunday, attributing the growth to both rising gold prices and an increase in holdings.
According to the CBI, Iraq’s gold reserves climbed from 12.29 trillion dinars...
Baghdad, Iraq- oil exports to the US declined last week as the country adjusted its crude import mix. The US Energy Information Administration (EIA) reported the drop on Sunday, highlighting changes in import volumes from multiple suppliers.
According to EIA data, the US imported an average of 5.535 million barrels per day (bpd) last week. This marked an increase of...