currenzcraze

Iraq truce still holding despite attacks on US forces, sources say Unannounced cessation of hostilities is likely to continue until the first week of May Hadya Al Alawi Mohamad Ali Harisi Sinan Mahmoud Abu Dhabi I Baghdad Apr 23, 2024 Listen In English Listen in Arabic Powered by automated translation Live updates: Follow the latest on Israel-Gaza An unannounced truce that led Iran-backed Iraqi militias to halt attacks on US forces in the region remains intact despite two recent incidents, sources close to Baghdad and armed factions told The National on Tuesday. They said the attacks on two US bases in Syria and Iraq were not approved by the umbrella organisation of the armed groups, indicating possible differences within the bloc concerning military strategies. The rockets fired at US targets were the first since early February when the truce that involves Washington, Baghdad, and Tehran was reached. The US State Department confirmed one of the two attacks. Some of the factions, including Kataib Hezbollah, are pushing for cancelling the truce because of what they consider as procrastination from the Americans and the weak [Iraqi] government position Shiite legislator close to armed factions However, an Iraqi security source close to the government told The National on Tuesday that the truce “is still holding” despite the attacks and that the unannounced cessation of hostilities “will continue for three months- until the first week of May.” Kataib Hezbollah, one of Iraq's most powerful armed groups, denied responsibility for the first attack, only hours after a statement published on Telegram claimed it was resuming its attacks on US targets. “There was no central decision from the militias’ leadership to carry out the attack on the US base,” the Iraqi source added. “It was most likely the work of individuals within the militias who decided to attack.” The armed factions are split on their position on the truce, explained the source, describing the situation within the militias as “chaotic”. Militant groups in Iraq and Syria have attacked US troops as part of a co-ordinated front since the outbreak of Israel's war in Gaza – where health authorities say more than 33,000 people have been killed by Israeli fire – demanding an immediate ceasefire in the Palestinian territory run by their ally Hamas. A screengrab from a video shared on April 20, 2024, shows damage following a bombing overnight on an Iraqi military base, which houses pro-Iranian forces, in Babil province. AFP The cessation of attacks against US forces followed a January attack that killed three US soldiers at the Jordanian-Syrian border. Washington attributed it to the Islamic Resistance in Iraq, the Iran-backed group of militias that includes Kataib Hezbollah. Since then, indirect talks between the US and Iran have attempted to build on the unannounced truce in Iraq to expand it across conflict-hit areas of the Middle East, sources have said. US troops withdrawal A Shiite legislator close to the armed factions confirmed on Tuesday that there were divisions between these groups over resuming attacks against the US troops in Iraq and Syria. “Some of the factions, including Kataib Hezbollah, are pushing for cancelling the truce because of what they consider as procrastination from the Americans and the weak [Iraqi] government position in discussions over US troops withdrawal,” he told The National. He added that the topic of the US forces' withdrawal had not been on the agenda of Prime Minister Mohammed Shia Al Sudan’s visit to Washington this month, further irritating these groups, but emphasised that “the truce is still in place and there are no indications at this point of its collapse”. The Iraqi Prime Minister visited Washington last week on a trip he said would open “a new chapter” in bilateral ties as Baghdad pushes the US to withdraw its troops. READ MORE Visit to Washington opens 'new chapter' in US-Iraqi relations, Al Sudani says US strikes against the militias on Iraqi territory since the outbreak of the war in Gaza on October 7 have piled pressure on the government in Baghdad to respond to long-standing calls for American-led forces to leave the country. About 2,500 US troops are stationed in Iraq as part of an international coalition against ISIS. On January 27, Iraq and the US held the first round of talks to end the coalition's mission. Baghdad expects discussions to lead to a timetable for reducing the coalition's presence and reaching bilateral security agreements with partners. A source close to the Iran-backed groups said that the recent attacks against the US forces were a “warning” by some armed factions who “aren’t satisfied with what the PM brought back from Washington”. “There is no specific date or timetable related to the exit of the coalition forces led by the Americans, which is one of the basic demands of the factions,” added the source. A member of Iraq's Popular Mobilisation Forces stands guard at the gate of the paramilitary forces' headquarters, in January. AFP The attacks on US forces came at a time of high tension between Iran and Israel. Israel carried out a military strike against Iranian territory on Friday, less than a week after Tehran's rocket and drone barrage retaliation for an Israeli attack on its Damascus embassy. These are the latest escalations stoking fears of a regional war. The US received notice of the Israeli strike but did not endorse the operation or play any part in it, NBC and CNN reported, quoting a number of sources and a US official.

Basrah crudes inch up following a global oil surge EconomyBreakingOilBasra Crude 2024-04-24 02:09 Font Shafaq News / Prices of Basrah Heavy and Medium crude oils rose on Wednesday, following a surge in oil prices in the global markets. Basrah Heavy crude oil increased by 52 cents to reach $84.24, while the price of Basrah Medium crude oil also rose by 52 cents to reach $87.44. Globally, oil prices were slightly higher after industry data showed a surprise drop in U.S. crude stocks last week, a positive sign for demand, though markets were also keeping a close eye on hostilities in the Middle East, as reported by Reuters. Brent crude futures gained 5 cents, or 0.06%, to $88.47 a barrel and U.S. West Texas Intermediate crude futures climbed 8 cents, or 0.1%, to $83.44 a barrel.

Oil prices inch up as market weighs US stocks decline, Middle East conflict EconomyBreakingOil Prices 2024-04-24 00:13 Font Shafaq News / Oil prices were slightly higher on Wednesday after industry data showed a surprise drop in U.S. crude stocks last week, a positive sign for demand, though markets were also keeping a close eye on hostilities in the Middle East. Brent crude futures gained 5 cents, or 0.06%, to $88.47 a barrel and U.S. West Texas Intermediate crude futures climbed 8 cents, or 0.1%, to $83.44 a barrel at 0410 GMT. U.S. crude inventories fell 3.237 million barrels in the week ended April 19, according to market sources citing American Petroleum Institute figures. In contrast, six analysts polled by Reuters had expected a rise of 800,000 barrels. Traders will be watching for the official U.S. data on oil and product stockpiles due at 10:30 a.m. EDT (1430 GMT) for confirmation of the big drawdown. U.S. business activity cooled in April to a four-month low, with S&P Global saying on Tuesday that its flash Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to 50.9 this month from 52.1 in March. "This could help convince policy makers that rate cuts are required to support the economy," ANZ analysts said in a note. U.S. interest rate cuts could bolster economic growth and, in turn, demand for oil from the world's top consumer of the fuel. Analysts were still focused on the latest developments in conflicts in the Middle East, though the impact on oil supplies remains limited for now. "Recent reports suggest that both Iran and Israel consider the current operations concluded against one another, with no follow-up action required for now," ING analysts said in a note. "The US and Europe are preparing for new sanctions against Iran – although these may not have a material impact on oil supply in the immediate term," they added. Israeli strikes intensified across Gaza on Tuesday, in some of the heaviest shelling in weeks.

Gold prices rangebound as traders focus on US economic data EconomyBreakingUSGold Prices 2024-04-24 01:09 Font Shafaq News / Gold prices crept higher on Wednesday but were stuck in a narrow range as investors looked to U.S. economic data for further clarity on the Federal Reserve's interest rate path. Spot gold rose 0.2% to $2,327.86 per ounce by 0429 GMT, after having hit its lowest since April 5 in the previous session. U.S. gold futures were steady at $2,340.90. "A false break of $2,300 on Tuesday likely means that gold prices will remain rangebound heading into US inflation data and the BOJ meeting... I expect gold to tread water between $2,300 and $2,350 unless a fresh catalyst arrives," City Index senior analyst Matt Simpson said. This week, investor focus will be on the U.S. gross domestic product (GDP) data due on Thursday and the Personal Consumption Expenditures (PCE) report due on Friday. Resilient U.S. economic data suggests any surprises are likely to be on the upside, potentially lifting the dollar and U.S. yields further, Simpson noted. A stronger greenback and elevated bond yields make the dollar-priced bullion less attractive for other currency holders and as an investment option compared to debt. Bullion prices hit an all-time high of $2,431.29 on April 12, rising nearly $400 from March start. The rally then lost steam as fears of a wider regional conflict in the Middle East eased. Gold has declined more than 2% so far in the week. Among other precious metals, spot silver rose 0.6% to $27.44 per ounce. "Like gold, there has been a shake-up at the highs, bullish fingers were burned, and another leg lower seems viable (for silver) after a retracement higher," Simpson said. Spot platinum rose about 1% to $916.65 and palladium climbed 0.7% to $,1026.23.

President Barzani commemorates Qaladze's bombing tragedy and University of Sulaimani martyrs KurdistanBreakingNechirvan Barzani 2024-04-24 03:52 Font Shafaq News/ President of the Kurdistan Region Nechirvan Barzani recalled on Wednesday the bombing of the University of Sulaimani and the town of Qaladze (Qaladiza) by the former regime in the 1970s. On April 24, 1974, the former Ba'ath regime, led by Saddam Hussein, bombarded the people of Qaladze. Utilizing four Iraqi aircraft, they dropped 16 bombs on the skies of Qaladze, resulting in the deaths of 163 individuals, injuring 300 more, and causing extensive destruction to parts of the city. This heinous act marked the first use of internationally prohibited weapons of mass destruction against civilians since the bombings of Hiroshima and Nagasaki during the Second World War. Among the victims of Qaladze's tragedy were a significant number of professors and students from the University of Sulaimani, along with other citizens of the city President Barzani stated, "Today marks the 50th anniversary of the martyrdom of dozens of students and professors from the University of Sulaimani and civilian residents of Qaladze who perished on April 24, 1974, as victims of yet another crime by the Iraqi regime at the time. We honor their souls and remember them with reverence and appreciation." He added, "The martyrdom of students, professors, and civilian residents in a cowardly aerial bombardment strengthened the spirit and determination to confront injustice and dictatorship and increased the resolve of the people of Kurdistan, their adherence to their cause, demands, and legitimate rights, and the continuation of their struggle." The President of the Kurdistan Region continued, "That crime is a bloody and painful chapter in the history of the Kurdish people, from which lessons must be drawn, and action must be taken through unity, solidarity, and cooperation to prevent the repetition of that history forever and to work with hope to achieve a better future."

Erbil hosts 5th conference on Communication Engineering and Computer Sciences, Inaugurates AI Center KurdistanErbil 2024-04-24 03:55 Font Shafaq News/ Erbil, the capital of the Kurdistan Region, hosted the fifth annual International Conference on Communication Engineering and Computer Sciences alongside the inauguration of an Artificial Intelligence Center at the University of Kurdistan. Organized by Cihan University-Erbil in partnership with the International Islamic University Malaysia and Ajloun National University (ANU) in Jordan, the 5th conference "served as a platform for scholars, educators, and specialists to showcase high-level research in communication engineering and computer sciences." The event, held on April 24th and 25th, 2024, at Cihan University-Erbil's Conference Hall, featured a diverse array of research papers from both international and regional contributors, rigorously evaluated by the preparatory committee. Prof. Dr. Amjad Saber Al-Delawi, President of Jihan University-Erbil, pointed out that the conference will witness "the presentation of 73 research papers covering topics such as artificial intelligence systems, software engineering, and web sciences, reflecting a global exchange of expertise and innovation." Najat Ahmed, a conference participant, echoed the importance of the event in aligning with contemporary technological trends, particularly in artificial intelligence research. On April 21, Erbil also inaugurated the ceremony of the Artificial Intelligence Center at the University of Kurdistan. Governor Omed Khoshnaw, alongside university officials, faculty members, and students, underscored the center's “pivotal role in advancing technological capabilities within Erbil and the broader Kurdistan Region.” “The aim is to propel technological advancement in Erbil and the broader Kurdistan Region as artificial intelligence continues to evolve, offering myriad benefits across industries. It emphasizes the integration of mathematical operations within devices, impacting computer science, linguistics, and psychology fields.” The Erbil Governorate media office said.

Gold stabilizes in Iraqi markets on Wednesday EconomyBreakingGold 2024-04-24 04:38 Font Shafaq News / Gold prices remained stable in the local markets of Baghdad and Erbil on Wednesday. Shafaq News Agency correspondent reported that gold prices in Baghdad’s Al-Nahr Street recorded this morning a selling price per mithqal (equals to five grams) for 21-carat gold, including Gulf, Turkish, and European gold, of 475,000 IQD, with a buying price of 471,000 IQD. The selling price per mithqal of 21-carat Iraqi gold reached 445,000 IQD, with a buying price of 441,000 IQD. In jewelry shops, the selling price per mithqal of 21-carat Gulf gold ranged between 480,000 and 490,000 IQD, while the selling price of Iraqi gold ranged between 450,000 and 460,000 IQD. In Erbil, the selling price per mithqal of 24-carat gold reached 545,000 IQD, 21-carat gold was sold for 480,000 IQD, and 18-carat gold was sold for 415,000 IQD.

President Barzani set to visit Baghdad for "State Administration" meeting IraqBreakingNechirvan BarzaniMuhammad Shia Al-Sudani 2024-04-24 05:11 Font Shafaq News/ A spokesperson to the Kurdistan region's president on Wednesday said that President Nechirvan Barzani will soon travel to Baghdad to attend a meeting of the State Administration Coalition. Speaking to reporters in Erbil, Spokesperson Dilshad Shahab stressed the importance of ongoing dialogue and cooperation with all parties, emphasizing that the Kurdistan Region Presidency has consistently pursued this approach. Shahab reiterated the significance of holding the parliamentary elections in the Kurdistan region, stating that it is a "top priority for President Barzani". He noted that Kurdistan is currently facing a "constitutional vacuum" and urged political parties to also "prioritize the region's interests when addressing the election matter." Commenting on the recent visit of Turkish President Recep Tayyip Erdogan to Baghdad and Erbil, Shahab said "the enduring nature of the relationship between Kurdistan and Turkey is built on shared interests and good neighborliness," stressing that "regional stability remains a common goal for all parties involved." Shahab noted that President Erdogan's inclusion of Erbil in his Iraq itinerary is an "indication of the strong ties between Iraq, Turkiye, and the Kurdistan Region...The region continues to play a pivotal role in regional dynamics." Shahab announced that President Barzani will soon visit Baghdad to participate in a regular meeting of the State Administration Coalition, "similar to the previous gathering."

Does anyone know what happened to gods? He was the champion at the information.

Iraqi man demands compensation from British oil firm BP after son dies of leukaemia ReportBreakingIraqiOil Firm 2024-04-23 12:25 Font Shafaq News/ An Iraqi man has taken the first step to launching legal proceedings in the UK against British oil firm BP, holding the company partly to blame for his son's death. Hussein Julood sent the company a letter seeking damages on Monday, just over a year after his son Ali Hussein died aged 21. Ali was raised near the town of Rumaila in Iraq. Julood alleges that gas flaring – the burning of excess gas – at the Rumaila oil field was responsible for his son's cancer. "My son was my best friend," Julood said. "Despite his suffering, Ali sought justice for all the people in the community who have been affected by flaring and those suffering from the same issues around the world." Ali was diagnosed with leukaemia at 15, leading him to leave school and his football team, and spent years receiving "painful and invasive" treatment. This is believed to be first time a fossil fuel corporation has been faced with a lawsuit in the UK concerning flaring overseas. BP has 90 days to "respond substantively. Wessen Jazrawi, a partner at the Hausfeld & Co. law firm that is representing Julood, said: "This is an important example of environmental and human rights litigation demanding compensation for harmful emissions from a carbon major. "Such companies have generally been able to carry out harmful environmental practices with impunity, particularly where these occur in the Global South." The BBC reported that Julood's letter to BP claimed his son's cancer and later death was the result of "toxic emissions from the Rumaila oilfield". The letter alleged that BP was partly to blame, according to the BBC. A press release about Julood's legal move said: "In his letter to BP plc, Julood claims that senior management made decisions that permitted excessive gas flaring to persist at the Rumaila oilfield, where a local BP subsidiary was the lead contractor. "It is further alleged that such flaring ultimately resulted in the illness and death of his son." The BBC reported that the Iraqi government owned the site where the flaring took place and that alongside PetroChina, BP was the lead contractor for overseeing the field in a group venture known as Rumaila Operating Organisation. "BP is not and has never been the operator of the Rumaila field. Nor do we have any ownership interest or equity in the field or any right to the oil it produces," a BP said in a statement published on its website in November. "Nevertheless, we continue to actively support the lead contractor – Basra Energy Company Limited (BECL) – in its work to help the operator of the field, the Rumaila Operating Organisation (ROO), to reduce its flaring and emissions. "ROO has and continues to implement a number of strategic projects which have significantly reduced flaring and emissions." BP added that this includes working with Basrah Gas Company, which the British firm said was responsible for managing the gas produced at Rumaila, to reduce flaring. BP said it "understands the concerns" and is "in action". "As shareholders, BP and PetroChina continue to provide technical advice and support to BECL aimed at delivering further improvements at Rumaila," the British company added.

Turkish President strategic journey: reshaping relations with Iraq and the Kurdistan Region ReportBreakingKurdistanErdoganNechirvan BarzaniMohammed Shia AlSudani 2024-04-23 15:26 Font Shafaq News/ Turkish President Recep Tayyip Erdogan's recent visit to Iraq and the Kurdistan Region has renewed interest in regional diplomacy. With the signing of 26 agreements and memoranda of understanding, including contracts related to Turkish companies developing Iraqi irrigation systems, tourism cooperation, trade, investments, and even security coordination, the relations seem more stable, whether between Ankara and Baghdad or Ankara and Erbil. A historic visit to Baghdad and Erbil On Monday, the Turkish President arrived in Baghdad on his first visit in 13 years since his last visit as Prime Minister in March 2011. Erdogan is accompanied by his Foreign Minister Hakan Fidan, Defense Minister Yasar Guler, Interior Minister Ali Yerlikaya, Trade Minister Omar Polat, Transport and Infrastructure Minister Abdul Qadir Uraloglu, Agriculture and Forestry Minister Ibrahim Yumakli, Energy and Natural Resources Minister Alp Arslan Bayraktar, and Industry and Technology Minister, Mehmet Fatih Kacar. President Erdogan is also accompanied by Fahrettin Altun, the Head of the Presidential Communications Directorate, and Akif Cagatay Kilic, the President's advisor for foreign policy and security. Iraqi Prime Minister Mohammed Shia Al-Sudani welcomed him at Baghdad International Airport with a ceremony that included 21-gun salutes, the country's highest honor. During his one-day visit, Erdogan held discussions with high-level Iraqi officials, including PM Al-Sudani, President Abdul Latif Jamal Rashid, and Sunni figures. Later in his journey, the Turkish President headed to Erbil, where he was warmly welcomed by President Nechirvan Barzani, Kurdish leader Masoud Barzani, and Prime Minister Masrour Barzani. The visit comes amid a broad strategic rapprochement between Iraq and Turkiye following a series of high-level security meetings involving the Foreign Ministers, Defense Ministers, heads of intelligence agencies, and other officials from Turkiye and Iraq, held on March 13th in Baghdad. A turning point visit President Erdogan's recent visit to Baghdad and Erbil is seen as a pivotal moment that could herald a new phase in Ankara's engagement with Iraq following years of relative absence, stagnation, and intermittent tensions. The timing of Erdogan's visit is notable. It occurred amid a series of significant developments that have added weight to the diplomatic maneuvers. One such event was Al-Sudani's return from a visit to Washington and meeting with U.S. President Joe Biden to clarify the scope and nature of American involvement in Iraq—an issue of direct concern to Ankara given its strategic influence in both Iraqi and Syrian contexts. Moreover, Erdogan's trip coincided with a landmark event in the Middle East—the first direct clash between Iran and Israel, involving Iraqi airspace in a cross-border escalation. This regional turbulence pushed Erdogan's awareness that such conflicts, which spill over into Iraq, jeopardize Turkiye's regional security and interests. Against this backdrop, there is a growing recognition among key players in Baghdad, Ankara, and Erbil regarding the imperative of maintaining a ceasefire in Gaza and preventing wider regional conflict. Erdogan, alongside Iraqi top officials Al-Sudani, Rashid, and President Barzani, has consistently emphasized the need for stability amid ongoing geopolitical challenges. The confluence of these factors suggests a nuanced and evolving landscape in Turkish-Iraqi relations, where Erdogan's visit symbolizes a potential shift towards deeper engagement and collaborative efforts to navigate complex regional dynamics. According to political analyst Archad Hermuz, the relationship between Turkiye and Iraq is paramount, given their status as "neighboring and fraternal nations." Hermuz stated that Turkiye consistently "advocates for Iraq's resurgence to its historical and civilizational prominence." Hermuz underscored Turkiye's particular focus on the Kurdistan Region, citing numerous commonalities that bind Turkiye and the region, particularly in trade and security matters. "Security holds critical significance for Turkiye, Iraq, and the Kurdistan Region, necessitating comprehensive discussions on these intertwined issues." Regarding the Kurdistan Workers' Party (PKK) issue, Hermuz noted a "sense of seriousness" expressed by the Iraqi and the Kurdish governments regarding "countering potential terrorist activities." "The PKK operations violate the Iraqi constitution; therefore, there is an obligation to combat any terrorist operations emanating from its territories, especially those targeting neighboring countries like Turkiye." In turn, Dr. Taha Oglu, a researcher in Turkish affairs and international relations, noted the visit's role in bolstering political presence and fostering agreements, notably the pivotal Development Road project, which will have "positive implications on both Turkiye and Iraq, as well as the participating nations, particularly concerning water resources." Oglu highlighted the visit's economic outcomes, emphasizing its role in "inaugurating a new phase of Turkish-Iraqi relations across security, economic, commercial, and developmental domains." "This reinvigoration signifies a fresh chapter in the bilateral ties between Turkiye and Iraq, promising mutual benefits and a reshaped relationship." In addition, Oglu underscored Erdogan's visit to the Kurdistan Region as a crucial political juncture, pointing out the security dimension, particularly in light of Baghdad's approval of Ankara's request to clamp down on the Kurdistan Workers' Party (PKK), providing Turkiye with political backing for its actions within Iraq. Meanwhile, Turkish political analyst Oktay Yilmaz highlighted the economic interests shared between Ankara, Baghdad, and Erbil. "The focus was on enhancing economic ties through investment, boosting trade volumes, and initiating developmental projects, including the Development Road project linking southern Iraq to the Turkish border, which promises benefits for all stakeholders, including the Kurdistan Region." Addressing oil-related disagreements, Yilmaz mentioned Erdogan's advice to both Baghdad and Erbil on the importance of resolving disputes to resume oil flow to Turkiye. Tensions escalated in March 2022 between the two nations when Turkiye halted oil exports amounting to 450,000 bpd from Kurdistan following a compensation order by the International Chamber of Commerce related to "unauthorized" oil exports by the KRG between 2014 and 2018. The crux of the dispute revolves around accusations that Turkiye breached a 50-year-old pipeline transit agreement by allowing oil exports from KRG-controlled areas without Iraq's consent. A strategic shift in Turkish-Kurdish relations Dr. Ihsan Al-Shammari, head of the Political Thinking Center in Iraq, highlighted the importance of President Erdogan's visit to the Kurdistan Region as a "reaffirmation of Ankara's alliance with Erbil," noting a shift in Turkiye's approach towards the Kurdistan Region, which he believes will have positive implications for Kurdish interests. In an interview with Shafaq News Agency, Al-Shammari highlighted the potential for a robust partnership across political, economic, and security domains as a result of Erdogan's meetings with Kurdish leaders Masoud Barzani, Nechirvan Barzani, and Masrour Barzani. "This visit is a step towards resolving key issues such as oil re-exports and Turkish military operations along the border." Al-Shammari viewed direct dialogue between Erdogan and Erbil as crucial for "reaching comprehensive agreements and establishing a more stable and sustainable relationship between the parties involved. In this regard, observers told Shafaq News that Turkiye recognizes Erbil's potential role in transforming Erdogan's image from a "heavy neighbor" with strained relations with some Iraqi forces over the past decade due to controversial files, including combatting terrorism, water disputes, and PKK activities, into a "neighborly partner" focused on cooperation, coordination, and stability. The observers also noted that President Nechirvan Barzani has cultivated "deep ties" between Erbil and Ankara, including personal connections with Turkish leaders like Erdogan.

IMF expects inflation in Iraq to be 4% in 2024 Amr Salem April 23, 2024 620 2 min The International Monetary Fund. Photo: AP Baghdad (IraqiNews.com) – The International Monetary Fund (IMF) revealed on Monday that inflation in Iraq is expected to reach four percent in 2024. According to a report on the inflation index issued by the IMF, Sudan is expected to have the highest inflation rate in 2024—145.5 percent. Egypt and Yemen are predicted to have the second and third highest rates, respectively, at 32.5 and 16.9 percent. With an anticipated inflation rate of 7.6 percent, Algeria came in fourth in the Arab world, ahead of Tunisia in fifth place with an estimated inflation rate of 7.4 percent. With four percent, Iraq ranked sixth, ahead of Kuwait (3.2 percent), Mauritania (2.8 percent), Jordan (2.7 percent), Qatar (2.6 percent), Saudi Arabia (2.3 percent), and Morocco (2.2 percent). Multiple factors affect these ratios, such as swings in food and energy prices and pressures related to currency exchange in certain Arab countries. Inflation in Iraq reached approximately 3.7 percent in August 2023, compared to 4.4 percent in August 2022, despite the rise in inflation in Iraq’s neighboring countries.

American forces targeted in western Iraq AFP April 23, 2024 877 3 min The Iraqi and US flags flutter outside a hotel in Baghdad. Photo: AFP Baghdad – American forces were targeted at a base in western Iraq, a US defense official said Tuesday, the second such attack on the country’s troops after a more than two month pause. It followed another attack over the weekend in which rockets were fired from northern Iraq at a base in Syria that houses forces from the US-led coalition against the Islamic State jihadist group. US troops in the Middle East have been attacked scores of times since mid-October, but the cycle of rocket and drone attacks and periodic retaliatory strikes stopped following heavy American air raids on Iran-linked targets in early February. “Yesterday there was an attack against Al-Asad Air Base” that did not cause injuries or damage, the defense official said on condition of anonymity, without specifying the nature of the attack. “This was the second attack against US forces since February 4,” the official said. A wave of more than 165 attacks on US troops in Iraq and Syria began in October shortly after the start of the latest round of conflict between Israel and militant group Hamas, causing injuries but no deaths among US forces. But a drone attack in Jordan killed three US soldiers in late January, after which Washington carried out strikes on dozens of Iran-linked targets in Iraq and Syria. The air raids were followed by a pause in the attacks that lasted until late this month. The majority of the attacks were claimed by the Islamic Resistance in Iraq, a loose alliance of Iran-backed groups angered by US support for Israel, but there have been no claims for either of the attacks this month.

US dollar exchange rate drops in Baghdad, Erbil Amr Salem April 23, 2024 756 2 min An employee of a currency exchange shop shows a stack of Iraqi dinars in the southern Iraqi city of Nasiriyah in Dhi Qar governorate. Photo: AFP/Getty Images Baghdad (IraqiNews.com) – The US dollar exchange rate against the Iraqi dinar declined in Baghdad and the capital of the Kurdistan region of Iraq, Erbil, on Tuesday with the closure of the two main stock exchanges in the country. The US dollar exchange rate fell with the closure of Baghdad’s Al-Kifah and Al-Harithiya stock exchanges, where the US dollar exchange rate reached 1469 dinars compared to 1472 dinars on Tuesday morning. The exchange rate in currency exchange shops in Baghdad ranged between 1480 dinars and 1460 dinars, Shafaq News reported. In Erbil, the US dollar exchange rate ranged between 1468 dinars and 1467 dinars. The Central Bank of Iraq (CBI) announced in February 2023 that it started applying the new exchange rate of the US dollar, which is 1,300 dinars against one US dollar. The previous official exchange rate was 1450 dinars to one US dollar, which was being exchanged in the parallel market at a rate of 1550 dinars. In January 2023, the exchange rate of the US dollar against the local currency reached 1610 dinars, while the official exchange rate remained 1450 dinars per dollar, with a gap between the two exchange rates of more than 10 percent.

Iraq, Turkey ink more than 24 agreements Amr Salem April 23, 2024 690 2 min The Iraqi Prime Minister, Mohammed Shia Al-Sudani, and the Turkish President, Recep Tayyip Erdogan. Photo: INA Baghdad (IraqiNews.com) – During an official visit by the Turkish President, Recep Tayyip Erdogan, to Iraq on Monday, more than 24 agreements in different industries were reached between Turkey and Iraq. Following their meeting in Baghdad, the Iraqi Prime Minister, Mohammed Shia Al-Sudani, and Erdogan sponsored the agreements, according to a statement issued by the Prime Minister’s Office (PMO). The two leaders witnessed signing over 24 memoranda of understanding during a discussion, which included bilateral cooperation in water management, irrigation, infrastructure development, rail and road construction, and security. In terms of security, the two parties discussed how to deal with the difficulties brought about by the existence of militants who may support terrorists and compromise the security of both countries. “Iraqi and Turkish security are inseparable, and collaboration between the two countries is important for regional security,” Al-Sudani said. Al-Sudani and Erdogan signed a cooperation framework agreement on water, aiming to foster understanding and collaboration in the water sector based on the principles of equality, good intentions, and good neighborliness. The agreement also aims to create a new vision for the implementation of infrastructure and investment projects pertaining to water resources in Iraq. The 10-year agreement focuses on allocating cross-border waters fairly and equally and establishing a goal for the efficient and sensible use of water.