During A Summit Held In Paris And Attended By “Economy News”… Hadi Chaib Ainou: Global Challenges Necessitate Strengthening International Cooperation
Money and Business Economy News – Baghdad The Director General of the Professional Group of Banks of Morocco (GPBM) and Secretary General of the Federation of Francophone Banks (FBF), El Hadi Chaib Ainou, affirmed that the global financial sector is going through a critical phase of rapid transformations at the geopolitical, economic and social levels, which necessitates a review of the traditional tools used in financial analysis and their development in line with current changes.
During the Arab-European Banking and Economic Summit in Paris, held under the slogan “Towards a New Global Economic and Financial Balance,” organized by the Union of Arab Banks and sponsored by French President Emmanuel Macron, and attended by “Economy News,” Ainou said that the challenges facing the global financial system require new approaches that are more flexible and innovative, capable of absorbing the nature of the accelerating global changes.
The Moroccan official addressed the challenge of climate change, considering it to be one of the most prominent issues affecting the global economy, despite the difficulty of accurately predicting its future repercussions.
He pointed out that the effects of this change have become tangible in many countries, including European countries, which reinforces the importance of developing environmental legislation and activating relevant regulatory frameworks, given its increasing impact on economic and financial activities.
In a related context, Al-Hadi Shaib Ainou highlighted the importance of digital transformation and the accompanying expansion in the use of social media, pointing out the new challenges and opportunities this presents to governments and financial institutions, which necessitates the development of modern regulatory frameworks capable of keeping pace with the rapidly changing digital environment. https://www.economy-news.net/content.php?id=69852
During A Summit Held In Paris And Attended By “Al-Eqtisad News”… Raoul Delamare: Strengthening The Arab-European Partnership Is Essential To Confront Global Transformations
banks Economy News – Follow-up The President of the French-Arab Chamber of Commerce – France, Raoul Delamare, stressed the importance of strengthening cooperation between Arab, European and Francophone banking and financial institutions in light of the accelerating global challenges, noting that this partnership represents a fundamental pillar for supporting economic development and enhancing financial stability in the region.
This came during the Arab-European Banking and Economic Summit in Paris under the slogan “Towards a New Global Economic and Financial Balance,” organized by the Union of Arab Banks and sponsored by French President Emmanuel Macron, and attended by “Economy News“.
Delamare stressed the importance of continuing to invest in infrastructure and regional development projects, as they are key drivers of economic growth and an effective tool for promoting integration between Arab and European markets.
In his speech, he addressed the most prominent challenges facing the financial and banking sector at the present stage, most notably the escalating geopolitical tensions, rapid technological transformations, developments in artificial intelligence, in addition to the increasing risks associated with cybersecurity and the protection of digital financial systems.
He stressed that confronting these challenges requires strengthening dialogue and continuous coordination between banking and economic institutions, exchanging experiences and knowledge, and working together to develop regulatory and technical frameworks capable of keeping pace with global changes.
He concluded his speech by emphasizing that the Arab-European partnership will remain a pivotal factor in supporting economic stability and enhancing investment opportunities and future cooperation between the two sides.
During A Summit Held In Paris And Attended By “Economy News”… Maya Atik: Strengthening International Banking Cooperation Is Essential To Confront Digital Challenges
Banks Economy News – Baghdad The Director General of the French Banking Federation, Maya Atik, stressed that strengthening cooperation between international banking institutions has become an urgent necessity in light of the rapid economic and geopolitical changes taking place in the world.
This came during the Arab-European Banking and Economic Summit in Paris under the slogan “Towards a New Global Economic and Financial Balance,” organized by the Union of Arab Banks and sponsored by French President Emmanuel Macron, and attended by “Economy News”.
Ateeq stressed the importance of developing sustainable partnerships between financial institutions, which contribute to supporting financial stability and enhancing the banking sector’s ability to adapt to global transformations, particularly in the areas of infrastructure and regional development.
She noted that current challenges, including geopolitical risks, the rapid development of artificial intelligence technologies, and cyber threats, require banking institutions to intensify coordination and joint action to develop effective and sustainable solutions.
She concluded by emphasizing that the future of the banking sector depends primarily on deepening international cooperation and exchanging experiences, which will ensure the strengthening of financial stability and support for sustainable economic development paths. https://www.economy-news.net/content.php?id=69854
The Minister Of Finance Affirms The Continuation Of Economic Reforms And The Strengthening Of The Partnership With The World Bank
During his meeting with the World Bank representative to Iraq, Emmanuel Salinas Munoz, Finance Minister Faleh Sari affirmed the ministry’s commitment to implementing financial and economic reform programs, in line with the government program’s priorities and to enhance the efficiency of public resource management.
Sari indicated that the ministry is determined during the next phase to adopt reform paths based on developing the financial and banking environment, expanding the application of electronic systems in the tax and customs sectors, in addition to supporting non-oil revenues and simplifying procedures in a way that contributes to improving institutional performance and stimulating economic activity.
The two sides reviewed mechanisms for enhancing technical and institutional cooperation with the World Bank to support development and infrastructure projects, empower the private sector, and benefit from international expertise in implementing reforms.
For his part, Salinas Muñoz affirmed the bank’s continued support for the reform programs implemented by the Iraqi government, which contribute to strengthening economic development and raising the efficiency of financial institutions.
Gold Rose, Supported By A Weaker Dollar And Lower Oil Prices, Amid Optimism That Tensions Might Ease
Money and Business Economy News – Follow-up Gold prices rose on Thursday, supported by a weaker dollar and lower oil prices, as investors assessed signs of optimism about a possible settlement to the US-Israeli trade war with Iran.
Spot gold rose 0.7% to $4,461.09 an ounce, while U.S. gold futures for August delivery climbed 0.5% to $4,487.90.
The rise coincided with a decline in the dollar, which made gold priced in US dollars less expensive for holders of other currencies, in addition to a drop in oil prices after Lebanon and Israel agreed to implement a ceasefire, which boosted hopes for a broader calm in the region.
John Williams, president of the Federal Reserve Bank of New York, also reiterated that there is currently no need to change US monetary policy, arguing that inflationary pressures related to the war in the Middle East may not be long-lasting.
As for other precious metals, silver rose 0.6% to $73.13 an ounce, platinum rose 0.7% to $1,872.11, while palladium climbed 0.9% to $1,313.51. https://www.economy-news.net/content.php?id=69844
Turkish Carpet Exports Declined At The Beginning Of 2026, With Iraqi Markets Among Those Affected
Money and Business Economy News – Baghdad Data released by the Turkish Carpet Exporters Association on Wednesday showed that Turkish carpet exports declined during the first four months of 2026, amid logistical challenges and regional turmoil affecting several key markets in the Middle East, including Iraq.
According to data seen by “Al-Eqtisad News”, Turkish carpet exports amounted to $871.7 million during the period from January to April 2026, a decrease of 2.1% in value compared to the same period last year.
Alexander Kaplan, head of the carpet sector council at the Turkish Exporters Association, said that “wars and regional tensions have affected trade and supply chains,” noting that “Middle Eastern markets are among the most important destinations for Turkish carpets.”
Kaplan added that “Iraq, along with Saudi Arabia, Qatar and Bahrain, is among the markets that have been affected by recent regional circumstances, which has impacted export activity and trade demand.”
Despite the decline recorded at the beginning of the year, the Turkish carpet industry aims to raise its exports to $3.5 billion by the end of 2026, compared to about $2.8 billion achieved during the past year.
