Category: Market

The exchange rates of the dollar against the Iraqi dinar slightly declined on Monday morning in Baghdad, Basra and Erbil.

Below is a list of dollar selling prices:

$100 = 145,750 dinars in Baghdad

$100 = 145,700 dinars in Basra

$100 = 145,600 dinars in Erbil.

Source: National Iraqi News Agency

Doha: HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al-Thani, inaugurated today the Build Your House Exhibition at the Qatar National Convention Center, in the presence of a gathering of Qatari and foreign businessmen, private sector representatives, and 250 exhibiting entities, along with participants from the GCC countries’ pavilions.

HE the Minister of Commerce and Industry toured the pavilions and platforms of international and local exhibitors showcasing the latest and most advanced technologies in the field of home construction.

In a statement on this occasion, His Excellency emphasized that this exhibition reflects the important role played by the construction and building sector in supporting the major construction boom witnessed by the country, in line with its direction towards completing development projects aimed at achieving its National Vision 2030 goals.

He explained that the exhibition provides an opportunity to explore the latest technological developments and b
est global practices in engineering, construction, and design, in addition to serving as an important platform for fruitful partnerships with various companies and specialized consultants in this field to support the national economy.

The Build Your House exhibition offers visitors a range of services and products provided by pioneers in the construction sector, including consultations, contracting, and smart home solutions. Visitors can also enjoy the atmosphere at the Qatari house exhibition, an artistic exhibition organized by the Ministry of Social Development and the Family.

This fifth edition of the exhibition witnessed the launch of the Second Gulf Housing Week, inaugurated last year in the Sultanate of Oman, serving as an important platform for knowledge exchange, cooperation, and communication among more than 40 experts and speakers sharing their experiences and insights on self-construction, permits, and the latest global innovations.

The exhibition, scheduled to run for four days, occupies expan
ded spaces this year, with three large halls and features an expanded international pavilion with over 250 exhibitors from 10 countries: Kuwait, Bahrain, UAE, Saudi Arabia, Oman, Algeria, Lebanon, Turkey, Italy, and Canada.

This expansion in space and diversity in offerings enriches the exhibition, providing visitors with a comprehensive range of experiences and cutting-edge innovations, as well as hosting the annual Interior Design Student Competition organized in collaboration with Virginia Commonwealth University School of the Arts in Qatar, which nurtures young design talents.

Source: Qatar News Agency

The Ministry of Oil announced that no company submitted a bid to develop the North Rutba area, within Anbar Governorate, within the activities of the projects attached to the fifth and sixth licensing rounds.

The Ministry stated in a statement, ‘The North Rutba area extends within Anbar Governorate with an area of about 6,928 square kilometers, and there are no drilled wells and no company submitted a bid to develop them, and the project will be postponed until the end of the round.’

Source: National Iraqi News Agency

Doha: A number of experts and specialists in the field of the environment showcased the most prominent renewable energy technologies, the extent to which sustainability is achieved in housing projects, and the promotion of green buildings that contribute to reducing gas emissions, reducing carbon and water footprint, and preserving natural resources.

This came during a discussion panel on Monday entitled ‘toward more sustainable cities: renewable energy technologies and achieving sustainability in housing projects,’ as part of the activities of the Second Gulf Housing Week held in conjunction with the Build Your Home 2024 exhibition.

The experts pointed out the most prominent concepts of environmentally friendly green buildings and the extent of their contribution to reducing the water footprint, noting the most prominent requirements and standards for environmentally friendly buildings, in addition to the impact of green buildings on the system of healthy and sustainable cities, and the extent of how to ac
hieve sustainability in housing projects through renewable energy technologies.

The participants noted that all health ministries around the world have a healthy city system that relies on sustainable green buildings as reducing gaseous emissions into the atmosphere and reducing the level of electricity consumption works to achieve a healthy city free of gaseous emissions and waste, which were not used properly in the recycling process. They explained that the concept of green buildings is not new and the issue of raising awareness about it still needs to be reconsidered, especially since the world today needs environmental protection.

The discussion panel discussed the concept of sustainability that was added to buildings with the aim of completing the environmental system, rationalizing electricity, and recycling waste, which contributes to enhancing the sustainability element in homes.

The panel discussed the most prominent sustainability standards available in Lusail City, one of the modern and smart c
ities, which obtained cooling from natural gas through gas stations and an underground network.

The discussion panel addressed Qatar National Renewable Energy Strategy (QNRES), launched by the Qatar General Electricity and Water Corporation “Kahramaa” with the aim of completing sustainability and reducing carbon emissions. The panel pointed out that the GCC countries in general are moving toward reducing carbon, and Kahramaa has tended in recent years to integrate solar energy stations in a centralized manner and has opened the way for self-production through subscribers.

Moderated by Director-General of International Cooperation Department at the Ministry of Municipal and Rural Affairs and Housing in the Kingdom of Saudi Arabia Abdullah bin Nasser Al Rashid, the panel saw the participation of Environmental Expert and Engineering Consultant at the office of HE the Minister of Environment and Climate Change Dr. Mohammed bin Saif Al Kuwari, Director of Production Planning and Business Development at Kahramaa
Eng. Abdul Rahman Ibrahim Al Baker, and Chief Operating Officer at Marafeq Qatar Abobaker Al Hadrami.

The first day of the Gulf Housing Week also witnessed a second discussion panel entitled ‘planning and designing a smart residential community: smart residential neighborhoods that take into account technological dimensions in the design of housing, streets, spaces, and services that citizens of the GCC countries receive).

Moderated by Director of Project Implementation Monitoring Department at the Ministry of Housing and Urban Planning in the Kingdom of Bahrain Eng. Mohammed Abdulaziz Rashdan, the discussion panel saw the participation of Deputy Director-General for Planning and Design Affairs at the Public Authority for Housing Welfare in the State of Kuwait Eng. Nasser Khurbaith, and Acting Executive Director for Planning and Projects Sector at Abu Dhabi Housing Authority Eng. Afra Al Hajri.

The first day also included a number of presentations that dealt with mechanisms for using clean energy in cities
, what people have learned from the COVID-19 pandemic to create more humane housing and residential neighborhoods, the extent of planning and design of a smart residential community, energy-producing housing, and sustainable solutions for residential buildings, in addition to the contributions of AI engineering in architecture.

Source: Qatar News Agency

The prices of Basra crude oil, ‘heavy and medium’, fell today, Monday, with a decline in global oil prices.

The price of Basra Heavy crude fell by 12 cents to reach $82.75, and the price of Basra Medium crude also fell by 12 cents to reach $86.85.

Global oil prices fell amid signs of weak demand for fuel, at a time when comments by Federal Reserve officials (the US central bank) weakened hopes for lowering interest rates, which could lead to a slowdown in growth and a reduction in demand for fuel in the largest economy in the world.

Source: National Iraqi News Agency

The International Telecommunication Union launched a package of initiatives to support the participation of girls within the communications and information technology sector, on the sidelines of the activities of the ‘Regional Event for the International Day of Girls in the Field of Information and Communications Technology,’ which was hosted for the first time by the capital, Baghdad, under the patronage of Prime Minister Muhammad Shiaa Al-Sudani. It was organized by the Communications and Media Authority.

The Regional Director of the Union, Adel Muhammad Darwish, said in a statement to the National Iraqi News Agency (NINA), that ‘the International Telecommunication Union launched under its umbrella two initiatives to support girls and women in the Arab world and the international community as a whole.’

He added, “We have the Women’s Network in the Arab region and the world, which specializes in motivating women to actively participate and engage within the communications and information technology sector,
and we also have the Youth Network for both genders, which focuses on motivating girls and boys to work through platforms on innovation, creating digital content, and providing any work that will benefit them for the benefit and scientific benefit to develop and support the communications and information technology sector, Arab and international.’

He explained, “These initiatives include all 193 member states of the International Telecommunication Union, including Iraq.

Source: National Iraqi News Agency

European stock indices on Monday closed trading stable as investors awaited the release of a series of economic data from the euro zone and a major statement on inflation in the United States this week.

The European Stoxx 600 index saw no significant change, and remained close to the record high levels it had achieved earlier.

Automotive stocks led the gains, recovering from a four-day losing streak, while defense stocks fell 1.2 percent.

The Stoxx 600 index regained its momentum in the middle of this month after geopolitical tensions and uncertainties related to monetary policy led to its decline last April.

Investors are awaiting the inflation readings of producer and consumer prices in the United States, scheduled to be released on Tuesday and Wednesday, which will determine the fate of interest rate cuts by the Federal Reserve (the US central bank) this year.

Source: Qatar News Agency

Bahraini Minister of Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa met his Saudi, Lebanese, Palestinian, and Sudanese counterparts in Manama on Saturday on the sidelines of the preparatory meetings of the Economic and Social Council of the Arab League.

The meetings, held separately with Minister of Finance of Saudi Arabia Mohammad Al-Jadaan, Minister of Finance of Sudan Gibril Ibrahim, Minister of Economy and Trade of Lebanon Amin Sallam, Minister of National Economy of Palestine Youssef Mohammad, focused on the bilateral ties and cooperation in the economic and investment areas.

The meetings also dealt with the preparations for the Economic and Social Council of the Arab League and the agenda of 33rd Arab Summit to be hosted by the Kingdom of Bahrain on Thursday, according to Bahrain News Agency.

Source: Kuwait News Agency

Egypt’s Prime Minister Dr. Mostafa Madbouly confirmed on Sunday that his government is keen to expand the private sectors’ participation in economy.

The Egyptian Council of Ministers stated that this came during Madbouly’s meeting with International Finance Corporation’s (IFC) Regional Vice president for Africa Sergio Pimenta, Minister of International Cooperation Dr. Rania Al-Mashat, IFC’s Regional Director for North Africa Cheick Oumar Sylla, IFC’s Regional Director for Egypt, Yemen, and Djibouti Stephan Gimbert. Madbouly said that the consultations with the IFC confirmed the Keenness of the Egyptian government to increase the private sector’s contribution to 65 percent of the country’s total investments.

He expressed his aspiration to move faster towards specific and clear goals regarding cooperation between government representatives and IFC officials in civil aviation, communications and information technology sectors, specifically in the field of developing airports, constructing cables, communication
towers and data centers.

For his part, Pimenta praised the support that Egypt has recently received from international financial and development institutions through reaching many agreements, stressing that this reduces the economic pressure and gives greater confidence in the Egyptian economy.

Source: Kuwait News Agency

Secretary General of the Gulf Cooperation Council (GCC) Jassem Al-Budaiwi said that the comprehensive strategic vision for economic diversification aims to reduce the reliance on oil revenues and attract foreign direct investment.

The Secretariat General said in a statement that this came during Al-Budaiwi’s participation in the “Gulf Innovators 2024” conference organized by Al-Diwan Forum at Harvard University from May 10-12, 2024.

Al-Budaiwi added, in his speech, that the GCC countries position themselves as competitive digital hubs on the global map, supported by their favorable geographic location and young population.

He also said that strategic location, coupled with robust infrastructure, paves the way for the council member states to attract international partnerships that support their long-term development goals.

“This transformation paves the way for a future that drives technological innovation, digital integration, economic growth, and creates technology-related job opportunities, attracting
global technology companies, which positions the GCC countries for long-term economic stability and global competitiveness,” he indicated.

He concluded his speech by expressing pride in the remarkable achievements of the GCC countries in economic development and integration, highlighting the transition from oil-dependent economies to diversified economies.

Source: Kuwait News Agency

The seventh “Choose France Summit”, an annual meeting for the International business community, will kick off Monday at Versailles Palace with the participation of more than 180 CEOs and foreign investors.

France hopes to promote its economic policies and its ability in attracting major projects and investments, it is anticipated that major companies will announce new projects and huge investments during the summit.

In a statement by French presidential officials, it was revealed that the summit comes at a time where France, for the fifth year in a row, has maintained its title as Europe’s most attractive country in 2019, because of President Emmanuel Macron’s proactive policy.

This was the result of an appealing tax policy and the France 2030 plan, which aims to develop competitiveness of the industrial sector, future technology, and green hydrogen projects.

Prime Minister Gabriel Attal revealed to the Parliament last week that very big projects would be announced, it is expected that large investments f
rom powerful companies such as Amazon, IBM of the Americas and Hager Group of Germany will be announced as well.

Macron will chair a round table at the summit on de-carbonization, Artificial Intelligence (AI) and Quantum, topics in which France stands out in Europe.

Last years’ Choose France Summit brought together more than 200 participants from leaders of foreign groups, noting that 28 projects were announced during the previous summit, attracting an investment of over 13 billion Euros (USD 14 billion).

Source: Kuwait News Agency

The Ministry of Trade announced in an official statement today the participation of the delegation of the Republic of Iraq in the meetings of the Economic and Social Council that began today, Saturday, under the umbrella of the Arab League, in preparation for holding the 33rd session of the Arab Summit in Bahrain at the level of senior officials.

The statement quoted the Director General of the Department of Foreign Economic Relations, Riyad Fakher Al-Hashimi, as saying, ‘The meetings discussed the agenda items as presented by the Secretariat of the Economic and Social Council, with various topics related to social and economic aspects, in addition to the topic of the progress achieved in establishing the Greater Arab Free Trade Area.’

The statement continued, “Recommendations will be agreed upon for the topics presented to be presented to the meeting of the Economic and Social Council at the ministerial level, in which the delegation of the Republic of Iraq is headed by the Minister of Trade, Atheer Dawood
Al-Ghurairi, to then be approved by the heads of state at the Arab Summit meeting to be held in Bahrain on the sixteenth of currentMay.”

The Director General of the Economic Department at the Ministry of Foreign Affairs and the Iraqi Chargé d’Affairs in Bahrain participated within the Iraqi delegation.

Source: National Iraqi News Agency