Business

Oil prices fall to $92 per barrel

Oil prices fell on Tuesday, amid fears that demand for fuel will be affected by major central banks keeping interest rates high for a longer period, even as supply is expected to tighten. Brent crude futures fell 38 cents to $92.91 a barrel by 0400 GMT, while US West Texas …

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Iraq reports oil exports and revenues for August

Iraq’s Ministry of Oil has released its final statistics for oil exports and associated financial revenues for August. According to the data provided by the Iraqi Oil Marketing Company (SOMO), Iraq exported 106,122,679 barrels of crude oil, generating $8,997,851,000 in revenue. Of this total, the majority came from oil fields …

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USD rates dip in Baghdad, Erbil

The exchange rate of the US dollar against the Iraqi dinar decreased on Tuesday in the markets of the capital, Baghdad, and Erbil, the capital of the Kurdistan Region. Dollar’s prices decreased with the closure of the two main stock exchanges, Al-Kifah and Al-Harithiya, in Baghdad, reaching 156,000 IQD per …

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Global finance system fragmenting: UN chief

The world risks a “great fracture” of its economic and financial systems, U.N. Secretary-General António Guterres said on Thursday at a summit with Southeast Asia’s ASEAN bloc, China, the United States and others in Indonesia. In a wide-ranging speech that touched on geopolitical tension, multilateral development finance and climate change, …

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Oil Prices Rise Again In The Global Markets

Oil prices rose in Asian morning trading today, Monday, as market sentiment was boosted by positive economic data from China and the United States, as well as expectations of continued crude supply cuts from major producers. According to Reuters, Brent crude rose 17 cents, or 0.2 %, to $88.72 a …

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BRICS Bank to expand trade in national currencies amid sanctions: South Africa

New Development Bank (NDB) launched by the BRICS bloc aims to increase local currency fundraising and lending, amid Western sanctions against founding shareholder Russia, South African Finance Ministry has announced. According to South African Finance Minister Enoch Godongwana, increasing local currency use among NBD members will be on the summit’s …

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Iraq achieves +$8 bn from oil sales in July

The overall exports and revenues achieved for July have been reported by the Iraqi Ministry of Oil on Tuesday. The Iraqi Oil Marketing Company (SOMO), according to a statement from the ministry, released preliminary data showing that the overall volume of crude oil exports reached 106,755,169 barrels, bringing in $8.293 …

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Iraq Set to Shift Economic Focus Away from Oil by 2028, Asserts Prime Minister al-Sudani

Iraq’s Prime Minister,Mohammed Shia al-Sudani, on Wednesday said that Iraq would no longer remain dependent on oil, highlighting that “ready alternatives” will be available after 2028. In a meeting with the Iraqi-American Business Council delegation, led by the Council President and Deputy Head of the U.S. Chamber of Commerce for …

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Iraq, Pakistan agree to boost economic, trade and investment ties

Iraq and Pakistan have agreed to strive for strengthening and expanding the bilateral economic, trade and investment ties in the traditional and non-traditional sectors, and also through “Pakistan-Iraq Business Council” to further augment trade ties between the two countries. This was announced in a joint statement, issued simultaneously here in …

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