Baghdad, Iraq- On Tuesday, President of the Republic Abdul Latif Jamal Rashid underlined the importance of collaboration between Baghdad and the Kurdistan Regional Government (KRG) in addressing energy challenges and advancing the electricity sector.
The President’s remarks came during a meeting at the Baghdad Palace with Ziad Ali Fadhil, the Minister of Electricity. During the meeting, they discussed the Ministry...
Baghdad, Iraq- On Tuesday, Basrah crude oil prices saw a slight decline despite a rise in global oil prices. Basrah Heavy crude increased by just one cent, or 0.01%, reaching $74.52 per barrel, while Basrah Medium crude also gained one cent (0.01%), settling at $77.57 per barrel.
Meanwhile, global oil markets saw a positive trend, with Brent crude futures rising...
Baghdad, Iraq- Gold prices, both foreign and domestic, saw a significant rise on Monday in the markets of Baghdad and Erbil.
In Baghdad’s Al-Nahr Street markets, wholesale prices for a mithqal (approximately five grams) of 21-carat Gulf, Turkish, and European gold reached 610,000 IQD for selling and 606,000 IQD for buying. Meanwhile, the price for 21-carat Iraqi gold stood at...
Baghdad, Iraq- Iraq's net foreign reserves saw a 1.59% decline in November 2024 compared to the previous month, according to data released by the Central Bank of Iraq (CBI).
The report indicated that net foreign reserves dropped to 137.09 trillion dinars in November, down from 139.31 trillion dinars in October. On an annual basis, the reserves also registered a decrease...
Baghdad, Iraq- Toyota emerged as the top-selling car brand in Iraq in 2024, surpassing competitors Kia and Hyundai, according to industry reports. The brand saw a 35.9% increase in sales, climbing one position from the previous year. Kia followed in second place with a 12.7% growth, while Hyundai secured third, recording a 36.2% rise in sales.
Among other brands, MG...
Baghdad, Iraq- Iraq is making significant strides in digital transformation and industrial modernization through strengthened public-private partnerships. According to government officials, integrating digital industrial licensing and governance mechanisms is expected to enhance transparency, efficiency, and data-driven decision-making across various economic sectors.
Authorities have highlighted ongoing efforts to streamline trademark registration and industrial licensing via digital platforms. The transition to digital...
Iraq, Baghdad– The price of Iraq’s Basrah Medium crude saw an increase in January, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC).
OPEC’s monthly report indicated that the average price of Basrah Medium stood at $77.98 per barrel in January, up from $71.87 in December. This marks a rise of $6.11, or 8.5%.
The report...
Baghdad, Iraq – Gold prices saw a slight decline on Saturday in both Baghdad and Erbil markets, reflecting fluctuations in local trading.
In Baghdad's wholesale markets on Al-Nahr Street, the selling price for one mithqal (approximately five grams) of 21-carat Gulf, Turkish, and European gold was recorded at 608,000 IQD, with a buying price of 604,000 IQD. Meanwhile, the selling...
Baghdad, Iraq- Iraq’s Basrah crude prices closed the week with losses, reflecting broader trends in the global oil market.
Basrah Heavy crude ended Friday’s trading session at $74.53 per barrel, gaining 34 cents on the day but registering a weekly decline of 44 cents, or 0.59%. Meanwhile, Basrah Medium rose by 34 cents to settle at $77.58 per barrel, yet...
Baghdad, Iraq- Oil prices fell on Thursday as the possibility of a peace agreement between Ukraine and Russia raised expectations that sanctions disrupting global supply flows could be lifted. Additionally, U.S. President Donald Trump's plan to introduce reciprocal tariffs sparked concerns over inflation, further pressuring the market.
By 01:41 GMT, Brent crude futures had declined by 55 cents, or 0.73%,...