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Month: July 2019

Foreign Reserves at the Central Bank of Iraq rose to $72 Billion: CBI

Foreign Reserves at the Central Bank of Iraq rose to $72 Billion: CBI

The Iraqi Central Bank issued a statement that the foreign reserves at CBI have increased to 72 billion U.S dollars. The statement also pointed out that these reserves were increased because of the CBI’s investment policy and expanding them using secure mechanisms. A reliable source at the Central Bank of Iraq said in a statement the total foreign reserves at the central bank rose to $72 billion during the first half of the current year. These reserves could reach $86…

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A continuous Decline in Oil Prices after an OPEC Agreement

A continuous Decline in Oil Prices after an OPEC Agreement

On Wednesday, the oil price stabilized after a sudden decline in the previous session. It was supported by an extension of the agreement between OPEC and its allies to cut production, in spite of a fear that demand will be dropped due to a global economic slowdown. The oil prices got support from data pointing a bigger than expected downfall in the U.S crude inventories. Brent crude for September delivery increased 12 cents to $62.52/ barrel or 0.2%. The U.S…

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A New MOU Signed between Baghdad and Istanbul

A New MOU Signed between Baghdad and Istanbul

An MOU (memorandum of understanding) signed between Baghdad Chamber of Commerce and its counterpart in Istanbul. It would enhance trade exchange between both sides. The head of the Chamber at the Baghdad Chamber’s headquarters issued a statement that the head of Baghdad Chamber of Commerce Jaafar al-Hamdani received a large trade delegation representing the Istanbul Chamber of Commerce headed by Turkish Ambassador Fatih Yildiz. Al-Hamdani welcomed the guest delegation and thanked them for their visit and keenness to keep in…

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