Al-Emaar Announces A Temporary Halt To Housing Fund Loans.
Money and Business Economy News — Baghdad The Ministry of Construction, Housing and Municipalities announced on Tuesday that it has temporarily suspended the granting of housing fund loans. While noting that approximately 20,000 beneficiaries were included in housing fund loans during the past year 2025, it confirmed the simplification of repayment procedures.
The ministry spokesman, Nabil Al-Saffar, said that “housing fund loans are currently suspended until the remaining transactions of borrowers for the past year 2025 are completed,” confirming that “approximately 20,000 borrowers were included during the past year.”
Al-Saffar added that “the grant and payment mechanisms previously in place have not changed, as applications are submitted through the (Aur) electronic platform according to a selection form that ensures that the most deserving receive it, taking into account the social status of the applicants.”
He pointed out that “loan delivery procedures are carried out in three or two installments, where the amount is delivered according to the three installment system, which is (Batlu or Raft) the first installment is 30% of the loan value, the roofed structure is the second installment is 40% of the loan value, and the finishing work is the third installment is 30% of the loan value.”
He continued: “As for the two-payment system, 70% of the loan value is given after the roof structure is completed, and 30% of the loan value is given after the finishing work is completed (pouring the floor and plastering with gypsum or polished cement plaster).”
He explained that “the loan is granted once for the property, and the borrower must pay the first installment within one month from the date of issuing the deed, otherwise he will bear late payment interest for each month of delay.
In the event of non-payment for three consecutive or intermittent months, the guarantor’s department will be contacted, and no new payment will be disbursed if the request for inspection is delayed for more than one year from the date of the last deed received.”
He pointed out that “repayment procedures have been simplified, allowing borrowers to make payments electronically through the Iraqi Housing Fund’s application using electronic payment cards. This has greatly facilitated the process for borrowers and spared them the trouble of visiting the Fund’s branches.”
Al-Saffar explained that “the loan amount is granted based on the property’s value or the borrower’s salary (or the guarantor’s if unemployed), whichever is lower. The property’s value is calculated by multiplying the market value per square meter by 80% of the land area, with a maximum loan amount of 60 million dinars.”
https://www.economy-news.net/content.php?id=66843
Transportation: 17,329 Transit Flights And 6,944 Departures And Arrivals At Iraqi Airports During February
Money and Business Economy News — Baghdad The Iraqi Ministry of Transport announced on Tuesday the statistics for air traffic at the country’s airports for the month of February, including transit, arrival and departure flights.
The Ministry’s media office explained in a statement that the General Company for Air Navigation Services issued flight numbers, with 17,329 civilian overflights, 3,483 international and domestic departures, and 3,461 incoming flights.
The statement indicated that these statistics reflect the increasing activity in the aviation sector, stressing that the ministry is working to improve operational processes and develop airport infrastructure to enhance the quality of services provided to passengers and the efficiency of performance.
The ministry added that enhancing airport efficiency is a crucial step to support the national economy, emphasizing the General Company for Air Navigation Services’ commitment to developing air transport in Iraq.
https://www.economy-news.net/content.php?id=66844
Nvidia’s CEO Predicts Chip Orders Will Reach $1 Trillion By The End Of 2027
Money and Business Economy News — Follow-up US chipmaker Nvidia expects total orders for its advanced chips to reach $1 trillion by the end of 2027, according to CEO Jensen Huang.
Speaking at the company’s GTC conference last night, Huang said that demand for the company’s graphics processing units (GPUs) “exceeds all expectations,” adding, “I think demand for computing power has increased a million times over the past few years.”
Huang told conference attendees that he expects the company’s total revenue to reach at least $1 trillion between 2025 and 2027, according to the German news agency DPA.
Nvidia chips are used globally to train AI models and applications and to power data centers operated by tech giants like Google and Meta, as well as startups in the field like OpenAI, the developer of the popular AI chat platform ChatGBT.
Nvidia’s results are generally seen as a key indicator of the state of the artificial intelligence industry.
Last month, the company announced that its revenue for the last quarter of last year rose to $68.1 billion. Sales increased by 20% compared to the third quarter of last year.
In October, Nvidia became the first company in the world to surpass a market capitalization of $5 trillion. Nvidia’s CEO predicts chip orders will reach $1 trillion by the end of 2027. https://www.economy-news.net/content.php?id=66838
USD/IQD Exchange Rates Fall In Baghdad, Erbil
2026-03-17 Shafaq News- Baghdad/ Erbil The US dollar opened Tuesday’s trading lower in Iraq, hovering around 154,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya central exchanges at 154,500 dinars per 100 dollars, down from 155,000 dinars recorded in the morning.
In the Iraqi capital Baghdad, exchange shops sold the dollar at 155,000 dinars per 100 dollars and bought it at 154,000 dinars, while in Erbil, selling prices stood at 154,350 dinars and buying prices at 154,250 dinars.
https://www.shafaq.com/en/Economy/USD-IQD-exchange-rates-fall-in-Baghdad-Erbil-2
Gold Prices Climb In Baghdad, Erbil
2026-03-17 Shafaq News- Baghdad/ Erbil On Tuesday, gold prices hovered around 1.090 million IQD per mithqal in Baghdad and Erbil markets, according to a survey by Shafaq News Agency.
Gold prices on Baghdad’s Al-Nahr Street recorded a selling price of 1.088 million IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 1.084 million IQD. The same gold had sold for 1.085 million IQD on Monday.
The selling price for 21-carat Iraqi gold stood at 1.058 million IQD, while the buying price reached 1.054 million IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 1.090 million and 1.100 million IQD, while Iraqi gold sold for between 1.060 million and 1.070 million IQD.
In Erbil, 22-carat gold was sold at 1.133 million IQD per mithqal, 21-carat gold at 1.083 million IQD, and 18-carat gold at 929,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-climb-in-Baghdad-Erbil-6-0
Oil Prices Surge Past $102 On Gulf Supply Fears
2026-03-17 Shafaq News Oil prices rose more than 2% on Tuesday, reversing some of the previous session’s losses, on worries about supply with the Strait of Hormuz mostly shut and U.S. allies rebuffing calls to send warships to help tankers move through the vital waterway.
Brent futures jumped $2.74, or 2.7%, to $102.95 a barrel by 0357 GMT, while U.S. West Texas Intermediate crude gained $2.45, or 2.6%, to $95.95.
In the previous session, Brent futures settled 2.8% lower while U.S. West Texas Intermediate (WTI) crude slid 5.3% after some vessels sailed through the critical waterway.
The Strait of Hormuz – a chokepoint for about 20% of the world’s oil and liquefied natural gas trade – has been largely disrupted by the U.S.-Israeli war on Iran, now in its third week, raising concerns about supply shortages, higher energy costs and rising inflation.
“The risks remain stark: It only takes one Iranian militia to fire a missile or plant a mine on a passing tanker to reignite the entire situation,” IG market analyst Tony Sycamore said in a note.
Several U.S. allies rebuffed Donald Trump’s call on Monday to send warships to escort shipping through the Strait of Hormuz, drawing criticism from the U.S. president, who accused Western partners of ingratitude after decades of support.
“For now, oil markets are fixated on the duration of the conflict, halted supplies at Hormuz, and eventually the damage this chaos will leave on oil infrastructure in the Gulf,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.
Meanwhile, traders said prices were further supported after a fire broke out in the Fujairah Oil Industry Zone after a drone attack during morning trade in Asia, though no injuries were reported.
Middle East crude benchmarks have soared to all-time highs, becoming the most expensive oil in the world, with traders blaming the price spike on reduced supply available for delivery.
The effective closure of the strait has forced the United Arab Emirates, the Organization of the Petroleum Exporting Countries’ third-largest producer, to shut in production, reducing its output by more than half, two sources told Reuters.
Iran has asked India to release three tankers seized in February as part of talks seeking the safe passage of Indian-flagged or India-bound vessels out of the Gulf via the Strait of Hormuz, three sources with knowledge of the matter told Reuters.
To curb rising energy costs, the head of the International Energy Agency suggested member countries could release more oil, in addition to the 400 million barrels they have already agreed to draw from strategic reserves.
Israel said it has detailed plans for at least three more weeks of war as its military struck sites across Iran overnight.
(Reuters) https://www.shafaq.com/en/Economy/Oil-prices-surge-past-102-on-Gulf-supply-fears
