Fitch Raises Its Forecast For Average Oil Prices By $5 In 2025.
Energy Economy News – Follow-up Fitch Ratings has raised its average oil price forecast for 2020 by $5 for both Brent and WTI, to $70 and $65 per barrel, respectively, amid rising geopolitical risks.
The agency also raised its Henry Hub natural gas price forecast for 2025-2027, reflecting increased exports and lower storage levels. In contrast, Fitch made no changes to its medium-term and mid-cycle forecasts for European oil and gas prices.
The agency explained that the increase in its short-term oil price forecasts was a result of recent geopolitical events in the Middle East. https://economy-news.net/content.php?id=56824
Oil Prices Fall As Tensions Ease In The Middle East
Time: 2025/06/30 08:56:19 Reading: 690 times {Economic: Al Furat News} Oil prices fell 1% on Monday, as receding geopolitical risks in the Middle East and the possibility of another OPEC+ production increase in August boosted supply expectations.
Brent crude futures for August delivery fell 66 cents, or 0.97%, to $67.11 a barrel by 00:31 GMT, ahead of the contract’s expiration later today. The more active September contract fell 83 cents to $65.97 a barrel. US West Texas Intermediate crude fell 94 cents, or 1.43%, to $64.58 a barrel. LINK
The Ministry Of Planning Discusses Progress On The Electronic Automation Project And The Electronic Payment Application.
Monday, June 30, 2025 14:15 | Economic Number of reads: 190 Baghdad / NINA / The Electronic Automation and Electronic Payment Committee at the Ministry of Planning held a consultative meeting on Monday to discuss the progress made in the field of automation and digital transformation, and the measures taken in this framework within the ministry’s departments and formations.
A statement by the ministry said, “The meeting addressed the mechanisms for implementing the directives of the Prime Minister’s Office regarding the implementation of the electronic payment system, in addition to reviewing the measures taken during the previous meeting with the ministry’s formations, and the level of progress in their implementation.”
The meeting also discussed the adoption of the government e-mail within the secure government network, to exchange official correspondence between the ministry’s headquarters and its branches in the governorates, which contributes to accelerating procedures and enhancing information security.
The statement indicated that “the meeting discussed the procedures related to the central electronic mail system of the Ministry of Planning, which is supervised by the General Secretariat of the Council of Ministers, with the aim of developing and expanding it for use in all the ministry’s departments and formations.” /End https://ninanews.com/Website/News/Details?key=1238288
Government Advisor: Local Medicines Will Cover 70% Of The Country’s Needs Within Two Years
Money and Business Economy News – Baghdad Hamoudi Al-Lami, the Prime Minister’s advisor for industry and development affairs, said on Monday that the pharmaceutical localization program is expected to cover 70% of local demand within two years. He also revealed plans to open three factories producing cancer and blood disease drugs this year.
Al-Lami said, “The local pharmaceutical industry is witnessing continuous growth and now covers 40% of the country’s need for pharmaceutical products, including cancer-treatment drugs.”
He added, “This year will witness the opening of several pharmaceutical factories currently under construction, including three factories specializing in the production of cancer and blood disease medications.”
He pointed out that, “over the next two years, local factories’ production is expected to cover 70% of the country’s need for various types of medicines.”
Al-Lami continued, “The volume of contracts for the purchase of local medicines with the Ministry of Health has increased to 600 billion dinars, in light of Prime Minister Mohammed Shia al-Sudani’s continued emphasis on the importance of public-private partnerships in the pharmaceutical industry and production.” https://economy-news.net/content.php?id=56825
Find Out The Dollar Exchange Rate In Baghdad.
economy | 11:49 – 06/30/2025 Mawazine News – Baghdad – The dollar exchange rate rose slightly on Monday at the Baghdad Stock Exchange and money exchanges.
The US dollar exchange rate was recorded at 141,350 dinars for every $100 in morning trading at the main stock exchange in the capital, Baghdad.
The exchange rate in local markets in Baghdad reached 142,500 dinars for sale, while the purchase price reached 140,500 dinars. https://www.mawazin.net/Details.aspx?jimare=263268
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