Iraq Is Ranked Ninth Globally Among Countries Rich In Natural Resources.
Money and Business Economy News – Baghdad The Prime Minister’s financial advisor, Mazhar Mohammed Salih, confirmed on Friday that Iraq ranks ninth globally among countries rich in natural resources, while pointing to a move to invest in strategic minerals whose revenues rival those of oil.
The Prime Minister’s financial advisor, Mazhar Mohammed Salih, said, “Iraq ranks ninth among the world’s ten richest countries in terms of natural resources, with its wealth in precious metals, minerals, and other resources estimated at at least $16 trillion, according to preliminary global estimates.”
He pointed out that “Iraq ranks first in the world in terms of the concentration of natural resources per square kilometer of its vast and diverse geography, particularly in the Mesopotamia Basin region, which is rich in underground resources.”
He explained that “investing in strategic minerals such as thorium and uranium could generate returns comparable to those of oil, as thorium is a cleaner and more important alternative for energy generation compared to uranium.
” He noted that “linking the value of the national currency to investment in these minerals depends on Iraq’s ability to enter value-added chains, which contributes to raising the gross domestic product.”
He added that “the discovery of large quantities of thorium and uranium in southern Iraq represents ‘strategic news’ that will have a significant impact on diversifying the national economy if exploited optimally, especially if linked to the investment policies associated with the Development Road Project.”
Saleh emphasized that “advancing the exploration and manufacturing processes for these two resources will pave the way for the development of non-oil resources, enhancing Iraq’s global geo-economic position.
Furthermore, this development will chart the course for a new industrial map linked to the path of development, lay the foundation for a sustainable future, and attract major global mining companies with advanced technological capabilities, in addition to providing quality job opportunities within the Iraqi market.”
He pointed out that “this boom in mineral investment will have a positive impact on fiscal and monetary policy, by enhancing monetary stability and increasing national income, which will contribute to improving citizens’ well-being.”
He continued, “The importance of thorium and uranium minerals in the global energy market, and the presence of major economic partners such as India, China, and the United States, make Iraq a pivotal player in the field of unconventional fuel resources and an influential center in facilitating international security and energy paths.” https://economy-news.net/content.php?id=54581
Despite Its Decline, Gold Prices Are Heading Towards Weekly Gains.
Money and Business Economy News – Follow-up Gold prices fell on Friday, following a sharp rise in the previous session, as investors booked profits ahead of a long weekend. However, a weaker dollar and escalating trade tensions between the United States and China kept prices above $3,300 per ounce.
Spot gold prices fell 0.5% to $3,326.51 per ounce, after hitting a record high of $3,357.40 earlier in the session. Gold has gained nearly 3% this week, while US gold futures fell 0.5% to settle at $3,328.40.
As for other metals, spot silver prices fell 0.9% to $32.46 per ounce, platinum fell 1% to $957.18, and palladium fell 2.3% to $949.72. https://economy-news.net/content.php?id=54572
Arab Parliamentary Delegations Arrive In Baghdad To Participate In The Arab Parliament Conference.
Friday, April 18, 2025, 4:57 PM | Politics Number of reads: 103 Baghdad / NINA / Arab delegations representing members of the parliaments of Saudi Arabia, Bahrain, Egypt, Morocco, Algeria, Palestine, Mauritania and Lebanon arrived in the capital, Baghdad, on Friday, to participate in the Arab Parliament Conference, which will be held in Baghdad from April 19 to 21, 2025.
The House of Representatives will host the meetings of the Arab Parliament and its permanent committees, which will start tomorrow, Saturday, under the patronage of Parliament Speaker Mahmoud Al-Mashhadani, with the attendance of 60 representatives of parliaments of Arab countries.
The Parliament will begin its work with a joint meeting between Parliament Speaker Mahmoud Al-Mashhadani and Arab Parliament Speaker Mohammed Ahmed Al-Yamahi, marking the start of the Parliament’s meetings, followed by a session of the Palestine Committee, then the meetings of the Arab Parliament’s permanent committees, which are four committees, will begin, and the activities will conclude with the fourth session of the first session of the fourth legislative term of the Arab Parliament, on Monday, April 21.
The parliament’s agenda includes a training workshop for its members on Sunday, April 20, in the Shabibi Hall of the House of Representatives, under the title “Artificial Intelligence Tools in Parliamentary Work.”
A meeting of the Arab Parliament’s Bureau will be held in the meeting room of the Speaker’s Office, attended by the Parliament Speaker, his deputies, and heads of standing committees. The meeting will be held in the meeting room of the Speaker’s Office.
The Arab Parliament is the legislative arm of the League of Arab States, established within the framework of the League of Arab States pursuant to a decision by its Council at the summit level on March 23, 2005, in Algiers, as a transitional parliament for a period of five years. Its mandate was extended for an additional two years.
It is also considered a space for practicing the principles of Shura, democracy, freedom, and human rights, a tool for dialogue and decision-making, a popular driving force for the Arab working system, and an effective partner in formulating joint Arab policy.
It also affirms the principle of expanding political participation as a basis for democratic development in Arab countries and strengthening ties between Arab peoples.
The Arab Parliament consists of (88) members, four members for each member state of the League of Arab States, which number (22). The Parliament has four permanent committees, namely: the Foreign, Political and National Security Affairs Committee, the Economic and Financial Affairs Committee, the Legislative, Legal and Human Rights Affairs Committee, and the Social, Educational, Cultural, Women and Youth Affairs Committee. Each committee consists of (22) members.
The legislative term of the Arab Parliament consists of four sessions, where the session begins in October and ends in June of each year. The Arab Parliament holds its general sessions at the headquarters of the League of Arab States in Cairo./
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