Dollar Climbs In Baghdad, Erbil Markets
2026-11-10 03:14 Shafaq News- Baghdad/ Erbil The US dollar opened Tuesday’s trading higher in Iraq, hovering around 169,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 168,900 dinars per 100 dollars, up from the previous session’s 168,600 dinars.
In the Iraqi capital, exchange shops sold the dollar at 169,500 dinars and bought it at 168,500 dinars, while in Erbil, selling prices stood at 169,000 dinars and buying prices at 168,900 dinars.
Gold Slips Ahead Of US Inflation Data
2026-11-10 02:16 Shafaq News Gold prices eased on Tuesday as investors locked in profits after bullion’s more than 1% rally in the previous session and awaited US inflation data for clues on the Federal Reserve’s policy path.
Spot gold was down 0.4% at $4,124.42 per ounce, as of 0618 GMT. US gold futures for December delivery rose 0.5% to $4,133.00.
“It’s just a bit of churn in the market. Prices are easing back from the highs reached during the US session, which could be attributed to profit-taking,” said Kyle Rodda, senior financial market analyst at Capital.com.
“If we continue to see a situation where the US does not want to escalate the conflict in the Middle East and oil prices are reversing as a result, that’d be very beneficial for gold because of its impact on the dollar, inflation and interest rate expectations,” Rodda said.
US President Donald Trump said on Monday he plans to hold off on new military strikes against Iran for the time being after appeals from countries in the region, including from Qatar’s prime minister in White House talks. Oil prices fell on Tuesday, extending losses from the previous day.
Meanwhile, the US central bank should move its monetary policy “with care” as it maps a response to inflation that remains its greatest risk, Richmond Federal Reserve President Tom Barkin said on Monday, adding he had no base case for what should be done at the December meeting.
Traders currently see an 84% chance that the US Fed will raise rates in December, according to CME’s FedWatch tool.
Higher interest rates increase the opportunity cost of holding non-yielding bullion, reducing its appeal.
Investors now await the consumer price index report, due later in the day, followed by the producer price index data on Friday.
Among other metals, spot silver slid 0.3% to $53.22 per ounce, platinum steadied at $1,577.57 and palladium dropped 0.2% to $1,039.16. (Reuters)
MP: Political Disputes Delay Iraq’s 2027 Budget Vote
2026-11-10 07:21 Shafaq News- Baghdad Political disagreements have postponed the Iraqi cabinet’s vote on the draft 2027 federal budget until at least Saturday, parliamentary Finance Committee member Nasser Turki told Shafaq News on Tuesday.
Disputes between Baghdad and the Kurdistan Regional Government (KRG) were nearing resolution, according to Turki, who said a vote is now expected on Saturday, November 14, or the following Tuesday, November 17, before the draft is sent to parliament. A separate government source told Shafaq News that disputes over provisions concerning the Kurdistan Region’s budget remained unresolved.
The prime minister’s office previously confirmed that no cabinet session was held on November 7 to consider the proposal.
The Finance Ministry submitted the draft to the Ministerial Council for the Economy on September 27. The council endorsed it and referred it to the cabinet, while parliament’s Finance Committee later summoned Finance Minister Faleh Sari to discuss spending priorities and the legislative timetable.
Iraq has operated without a fully approved federal budget for two years. Although parliament passed a three-year budget law covering 2023–2025, it did not approve the 2025 spending schedules, and no budget was enacted for 2026. The government has instead relied on the one-twelfth spending mechanism under the Financial Management Law to cover salaries and essential expenses.
Read more: $45B deficit looms over Iraq’s draft 2027 budget
President Barzani Stresses Importance Of Turkiye Peace Process
2026-11-10 07:40 Shafaq News- Erbil Kurdistan Region of Iraq (KRI) President Nechirvan Barzani and Turkish Democracy and Progress Party (DEVA) leader Ali Babacan on Tuesday stressed the need to support Turkiye’s peace process, saying its success would be an important step toward strengthening security and stability in Turkiye and the wider region.
The KRI presidency said Barzani received Babacan and his delegation at his office in Erbil, the KRI capital. Babacan praised Barzani’s efforts to support the process and help it succeed.
They also discussed Turkiye’s relations with Iraq and the KRI, the latest regional developments, and other issues of mutual interest. Both stressed the importance of dialogue and peaceful, diplomatic solutions to disagreements and conflicts.
Baghdad, Doha Ink Singapore–Italy Fiber-Optic Deal
2026-11-10 06:29 Shafaq News- Baghdad/ Doha Iraq and Qatar signed a contract to establish a terrestrial and submarine fiber-optic connection linking Singapore to Italy through Iraqi territory via Qatar’s Ooredoo network, Iraq’s Ministry of Communications announced on Tuesday.
The signing took place under the auspices of Iraqi Communications Minister Mustafa Sanad, who is attending MWC 26 Doha, a global telecommunications conference held from November 8 to 10 under the theme “The IQ Era,” alongside Qatar’s hosting of the International Telecommunication Union Plenipotentiary Conference (ITU PP-26).
Sanad also oversaw the signing of two internet transit contracts on Monday with UAE-based telecommunications group e& and Bahrain’s Alliance Networks to connect East and West through Iraq.
Qatar’s Ooredoo announced plans in 2025 to invest more than $500 million in international cable projects, including terrestrial routes linking Iraq, Oman, and Turkiye to speed up data traffic, improve network stability, and provide alternatives to disrupted maritime routes.
Iraq also signed an agreement with Qatar’s GBI in 2026 to market international internet transit capacity through the Civilizations Road Project, a roughly 2,000-kilometer fiber-optic corridor connecting the country with neighboring states through five border crossings.
Read more: Iran’s undersea cable threat raises risks for Iraq