Al-Araji Discusses With The US Chargé d’Affaires The Latest Developments On The Regional And International Arenas
Wednesday, May 7, 2025, | Politics Number of reads: 246 Baghdad / NINA / National Security Adviser, Qasim Al-Araji, received in his office on Wednesday, the Chargé d’Affaires of the US Embassy in Baghdad, Elizabeth Trudeau.
According to a statement by the advisory, the meeting reviewed the latest developments on the regional and international arenas, and the efforts made to consolidate peace and de-escalate the situation in the region and the world.
The Iraqi-American strategic partnership and relations based on the strategic framework agreement signed between the two countries and ways to develop them were also reviewed.
The meeting also discussed the efforts of the two countries regarding the Al-Hawl camp file and the measures taken by the Iraqi government to return its citizens from the camp.
Al-Araji also stressed that the Iraqi government welcomes direct negotiations between the United States of America and the Islamic Republic of Iran, as they serve the interest of stability in the region and the world, reiterating that Iraq is moving forward to develop its relations with international partners. /End https://ninanews.com/Website/News/Details?Key=1225330
Rafidain Bank Achieves More Than Two Trillion Dinars In Electronic Collection Settlements
Banks Economy News – Baghdad Rafidain Bank announced today, Wednesday, a qualitative leap in the volume of electronic tax settlements implemented for government departments during the first third of 2025.
According to data released by the bank, total settlements exceeded 2.65 trillion dinars, a significant increase compared to the same period in 2024, when they amounted to approximately 772 billion dinars.
The bank indicated in its data that the growth rate reached 244%, driven by the expansion of the number of government departments activating the electronic collection system, as their number increased from 1,395 departments at the end of March 2024 to 1,808 departments at the end of March 2025.
April 2025 also recorded the highest quarterly settlement rate, reaching 654 billion dinars, compared to only 314 billion dinars in April of last year. This reflects a clear improvement in the system’s operational efficiency and enhanced government institutions’ confidence in using electronic payment services through Rafidain Bank, according to the data.
The bank emphasized that this achievement falls within the framework of its strategy to support government efforts, implement digital transformation plans, enhance government collection efficiency, and consolidate the principles of transparency and financial governance, in line with government directives to build a more integrated and effective financial system.
https://economy-news.net/content.php?id=55204
The President Of The Republic To The Governor Of The Central Bank: The Need To Develop A Sound Future Strategy For Fiscal Policy
Banks Economy News – Baghdad President Abdel Latif Jamal Rashid stressed on Wednesday the need to exert efforts and develop a solid future strategy for financial policy.
A statement from his media office, received by Al-Eqtisad News, stated that “the President of the Republic received the Governor of the Central Bank, Ali Al-Alaq, at the Baghdad Palace to discuss the state of the Iraqi banking sector and the measures to develop it, as well as the reform packages being undertaken by the Central Bank to address economic changes and their impact on the local market.”
The President of the Republic stressed “the need to exert efforts and develop a sound future strategy for fiscal policy that will enhance the desired economic development.”
He pointed out that “the meeting discussed plans to revitalize the investment sector by supporting the private sector, especially given the country’s remarkable stability on the security, political, and social levels.”
In turn, Al-Alaq reviewed the efforts made by the Central Bank and its future plans aimed at strengthening fiscal policy and economic stability in the country. https://economy-news.net/content.php?id=55214
Baghdad Municipality Achieves Highest Revenues In Its History
Baghdad Municipality. “Internet” Money and Business Economy News – Baghdad Baghdad Mayor Ammar Musa confirmed on Wednesday that the Secretariat will rely on its own resources to provide services to the capital’s residents. He also noted that 2024 tax collections amounted to more than 295 billion dinars, the highest since its establishment.
“The Baghdad Municipality achieved a collection rate higher than the required target last year, and it was the highest collection rate achieved by the municipality since its establishment, and we aspire to more,” Musa said in a statement reported by the official news agency, and seen by “Al-Eqtisad News” (INA). He pointed out that “revenues come either through increased fees, and we are working to prevent them from increasing so as not to affect the individual’s living income, or by increasing the municipality’s revenues by providing facilities and procedures.”
He added, “Our goal in 2025 is for collection to be higher than the planned target for 2024, and we are keen to rely more on our own resources in order to provide services to the people of the capital,” explaining that “collection last year, 2024, amounted to more than 295 billion dinars.” https://economy-news.net/content.php?id=55230
For The Second Week, The Dollar Continues To Decline In Local Markets
Economy | 07/05/2025 Mawazine News – Baghdad The US dollar exchange rate fell on Wednesday morning in Baghdad’s local markets.
The dollar price fell on the Al-Kifah and Al-Harithiya stock exchanges to 134,400 Iraqi dinars for every $100, while yesterday morning, Tuesday, it recorded 144,000 dinars for every $100.
The selling price in exchange shops in Baghdad’s local markets reached about 144,500 Iraqi dinars for every $100, and the buying price reached 142,500 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=261185
Oil Prices Rise On Signs Of Increased Demand From Europe And China
Energy Economy News – Baghdad Oil prices rose on Wednesday amid signs of weak production in the United States and rising demand in Europe and China, with buyers emerging after prices fell to new lows earlier in the week.
Brent crude futures rose 37 cents, or 0.6 percent, to $62.52 a barrel by 12:15 GMT, while U.S. West Texas Intermediate crude reached $59.53 a barrel, up 44 cents, or 0.74 percent.
Prices for both benchmark crude oils fell to their lowest levels in four years after OPEC+ decided to accelerate production increases, raising concerns about a supply glut at a time when US tariffs have raised concerns about demand.
However, low oil prices in recent weeks have prompted some US energy companies such as Diamondback Energy (FANG.O) to close some of their US offices.
Global oil and gas companies have announced they will reduce the number of drilling rigs, which analysts say will eventually lead to higher prices through reduced production.
Market sources said crude inventories fell by 4.5 million barrels in the week ending May 2, citing figures from the American Petroleum Institute on Tuesday.
Prices also received support from signs of improving demand. Consumers in China increased their spending during the May Day celebrations and as market participants returned from a five-day holiday. https://economy-news.net/content.php?id=55202
Gold Prices Fluctuate In Baghdad And Erbil Amid The Dollar’s Decline
Wednesday, May 7, 2025, | Economic Number of reads: 129 Baghdad/ NINA / Foreign and Iraqi gold prices stabilized in the local markets of the capital, Baghdad, and decreased in Erbil on Wednesday.
The selling prices of gold, in the wholesale markets on Al-Naher Street in the capital, Baghdad, this morning, were recorded for one Mithqal of 21 karat Gulf, Turkish and European gold at 680,000 dinars, and the purchase price was 676,000 dinars.
The selling price of one Mithqal of 21 karat Iraqi gold reached 650,000 dinars, and the purchase price was 646,000.
As for gold prices in goldsmiths, the selling price of one Mithqal of 21 karat Gulf gold ranges between 680,000 and 690,000 dinars, while the selling price of one Mithqal of Iraqi gold is between 650,000 and 660,000 dinars.
As for gold prices in Erbil, they recorded a decrease, as the selling price of 24-karat gold reached 792 thousand dinars, 22-karat gold sold for 726 thousand dinars, 21-karat gold sold for 693 thousand dinars, and 18-karat gold sold for 594 thousand dinars.
The exchange rates of the US dollar recorded a decrease, this Wednesday morning, in the markets of Baghdad and Erbil, reaching 143,400 Iraqi dinars for 100 dollars in the Al-Kifah and Al-Harithiya stock exchanges. / End
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