Shafaq News- Damascus

Syria is shifting from raw-material exports to higher-valueproducts, with Iraq among its main markets alongside Jordan and the Gulf, Khaledal-Khader, director general of the Syrian Authority for Supporting andDeveloping Local Production and Exports, told Shafaq News on Wednesday.

Al-Khader said the monetary and qualitative value of Syrianexports has improved significantly despite economic challenges, driven bygreater emphasis on quality and manufacturing.

Among Syria’s most competitive exports are agriculturalproducts and medicinal plants, particularly olive oil, cumin, anise, citrusfruits and summer produce such as cherries and grapes. Nuts, especially Aleppopistachios, also rank among the country’s competitive products, according toAl-Khader.

Gulf markets are among the main destinations for Syrianfresh agricultural products and food industries, while Iraq and Jordan offerimportant opportunities because of their geographic proximity and relativelyeasy commercial exchange through land crossings. “Markets in Eurasia, the“1105” group, and African countries also represent strategic opportunities forSyrian agricultural and textile products,” Al-Khader added.

Export volumes over the past two years have remainedgenerally stable for seasonal and industrial products, according to availabledata. Al-Khader said export volumes remain linked to the agricultural calendarand domestic market needs.

Higher export values have resulted from several factors,including greater added value as producers move from exporting raw materials toprocessed and packaged goods, such as bottled olive oil. Inflation and higherglobal prices, particularly for food and commodities, have also contributed tothe increase in the overall value of export sales.

“Improved product quality and the acquisition of qualitycertifications by several Syrian products have additionally helped exportersenter markets with greater purchasing power,” al-Khader clarified.

Agricultural exports account for the largest share ofSyria’s exports, ranging from 7 tons to 2,070 tons of total exports, he said,citing the country’s fertile agricultural base and seasonal surpluses,particularly in citrus fruits, produce, spices and olives. Industrial and food exports account for the remaining share,ranging from 125 tons to 1,145 tons, with a focus on processed food products,textiles, chemicals and detergents.

Shafaq News- Baghdad/ Erbil

The US dollar closedWednesday’s trading lower in Iraq, hovering around 153,000 dinarsper 100 dollars.

According to Shafaq News marketsurvey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,100dinars per 100 dollars, down from the morning session’s 153,300 dinars.

In the Iraqi capital, exchange shopssold the dollar at 153,500 dinars and bought it at 152,500 dinars,while in Erbil, selling prices stood at 153,000 dinars and buying pricesat 152,950 dinars.

Shafaq News- Baghdad

Loans issued under the Central Bank of Iraq's (CBI)four-trillion-dinar initiative reached about 4.195 trillion dinars ($3.20B) in2025, covering investment projects and personal financing, the bank said onWednesday.

Large projects valued at more than one billion dinars($763,000) received the largest share, at around 2.211 trillion dinars($1.69B), while small-project loans totaled about 249.6 billion dinars($190.5M). Financing for large projects primarily went to the commercial andindustrial sectors, and smaller businesses received funding across services,industry, agriculture, and trade.

The initiative also provided 5.6 billion dinars ($4.27M) inconcessional personal loans and financed entrepreneurship projects. The overallamount could increase with further lending to other sectors, according to theCBI.

Earlier this month, Central Bank figures showed that Iraq’sprivate sector accounted for nearly 65% of outstanding bank credit at the endof May 2026, holding 47.329 trillion dinars ($36.1B) of the total 73.173trillion dinars ($55.9B). Overall lending declined for a thirdconsecutive month, alongside a similar drop in bank deposits.

Shafaq News- Basra

Iraq will start laying the pipeline network for a major gas-captureproject in the Basra oilfields this month, the state-owned Company for OilProjects (SCOP) said Wednesday, adding that it had completed technical andoperational preparations to begin work at the Artawi field on a scheme designedto cut the gas routinely flared, or burned off, at southern oilfields.

The director of the company's South Projects Authority, Abdul HakimQadouri, said a joint meeting with TotalEnergies of France and China PetroleumPipeline (CPP) of China, attended by representatives of Basra Gas Company,settled the final requirements for launching the work, including pipelineroutes and supporting facilities.

The project involves laying pipelines of 10, 12, and 24 inches to carrysweet gas, which is low in sulfur, and building launching and receivingstations. It also includes a 20-inch line for sour gas, which is higher insulfur and more corrosive, within the WQ2 block of the West Qurna 2 oilfield.

According to Qaddouri, behind the engineering is a persistent Iraqiproblem: the country flares much of the gas produced alongside its crude forlack of infrastructure to capture it, then imports gas and fuel to run itspower stations. The project falls under Oil Ministry efforts to make use ofthis associated gas and process the volumes coming off producing fields,reducing flaring and drawing more value from the resource.

The Artawi Gas Midstream Project (GMP) forms part of TotalEnergies' GasGrowth Integrated Project, a multi-billion-dollar program in Basra that alsocovers oilfield redevelopment, a seawater supply plant, and solar power,according to the French company.

The Company for Oil Projects said the pipeline work is scheduled tobegin this August.

Read more: TotalEnergies pushes alternative Iraqi pipelines to west

Shafaq News- Kirkuk

British energy giant BP could extend oil and gas exploration into newareas of Kirkuk, including the Hawija district and the al-Riyadh and al-Rashadsub-districts, a member of the Iraqi parliament's Oil and Gas Committee, Mohammed Alial-Nuaimi, told Shafaq News on Wednesday.

He set out those areas as promising untappedground during talks with the General Manager of BP in Iraq, Zaid al-Yasiri. Thetwo sides examined technical and investment plans to develop Kirkuk's oil andgas fields, raise production efficiency, and upgrade refineries.

BP maintains a long-standing partnership with Iraq's energy sector andoperates under an agreement with the Iraqi government to develop andrehabilitate several Kirkuk fields, including the Kirkuk, Bai Hassan, Jambur,and Khabbaz fields, along with gas and power projects. Iraq activated thatcontract in October 2025, with initial output set at about 328,000 barrels perday, according to Iraq's Oil Ministry.

According to Oil Ministry spokesman Salim al-Rikabi, BP's work willinclude rehabilitating and developing Kirkuk oilfields, expanding Northern GasCompany facilities, constructing a 400-megawatt power station, absorbing locallabor, implementing social welfare projects, and developing the technicalcapacity of the North Oil and Northern Gas companies. The projects will alsoeliminate continuous gas flaring by utilizing produced gas as fuel for powerstations, contributing to both economic and environmental benefits.

Shafaq News-Baghdad/ Erbil

On Wednesday, gold prices hoveredaround 950,000 IQDper mithqal in Baghdad and Erbil markets, according to a survey by Shafaq NewsAgency.

Gold prices on Baghdad’sAl-Nahr Street recorded a selling price of 957,000IQD per mithqal (equivalent to five grams) for21-carat gold, including Gulf, Turkish, and European varieties, with a buyingprice of 953,000 IQD. The same gold had sold for 948,000 IQD on Tuesday.

The selling price for 21-caratIraqi gold stood at 927,000 IQD,while the buying price reached 923,000 IQD.

In jewelry stores, the sellingprice per mithqal of 21-carat Gulf gold ranged between 960,000and 970,000 IQD, while Iraqi gold sold for between 930,000 and 940,000 IQD.

In Erbil, 22-carat gold wassold at 988,000 IQDper mithqal, 21-carat gold at 945,000 IQD, and 18-carat gold at 810,000IQD.

Shafaq News- Baghdad/ Erbil

The US dollar opened Wednesday’s trading higher in Iraq,hovering around 153,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollartraded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 153,300 dinars per100 dollars, up from the previous session’s 153,250 dinars.

In the Iraqi capital, exchange shops sold the dollarat 153,750 dinars and bought it at 152,750 dinars, while in Erbil, sellingprices stood at 153,350 dinars and buying prices at 153,250 dinars.

Shafaq News

Oil and gold prices climbed while regionalshares edged nervously higher on Wednesday as geopolitical tensions ratchetedup ahead of key U.S. inflation data.

The yen was mostly flat against the dollar,having unwound much of its gains following rare intervention in currencymarkets by Japan and the United States.

The U.S. ​and Yemen's Iran-aligned Houthis reportedseparate attacks on shipping, while Asia was rattled by an early morningmissile launch by North Korea. ‌Markets remained focused on U.S. consumer priceindex data later in the session for signals of timing for a potential FederalReserve rate hike.

"Market sentimentis lukewarm amidst lingering geopolitical risk and as market participants headinto U.S. CPI data," Kyle Rodda, a senior financial market analyst atCapital.com, wrote in a note.

"The lack ofsubstantial news or ​progressin talks, with Iran doubling down on its commitment to govern the Strait ofHormuz, is keeping the risk for oil ​pricesskewed to the upside and U.S. indices on hold," he added.

U.S. crude rose 0.89%to $83.94 a barrel, and ⁠Brentadvanced to $89.60 per barrel, up 0.78% on the day. Both benchmarks settledmore than $1 higher on Tuesday, marking their highest closes since July 31 and ​extending gains after jumping about 5% onMonday.

Spot gold gained 0.46%to $4,387.03 an ounce. MSCI's broadest index of Asia-Pacific shares outsideJapan (.MIAPJ0000PUS), opens new tab was up 0.5%, while Japan's ​benchmark Nikkei share gauge (.N225), opens newtab traded flat as the market reopened after a holiday.

Four crew members ofan Egyptian-owned ship were killed in an attack by Houthis on Tuesday, Yemen'stransport ministry said, while the U.S. military said it struck a containership attempting to sail toward an Iranian port. The fatalities would mark the firstfrom a Houthi strike ​onshipping since the Iran war began on February 28.

The war shows no signsof ending despite repeated claims from U.S. President Donald Trump ​of an imminent deal.

A North Koreanballistic missile fired off the Korean Peninsula's east coast came days aheadof major joint military exercises by Seoul and Washington long ‌denounced by ⁠Pyongyang. Meanwhile, Taiwan condemned plannednaval drills between China and an Indonesian warship off the island's eastcoast.

Wednesday's CPI datawill not capture the most recent rise in energy costs, but it could still proveinstrumental in setting expectations for the Fed's meeting next month, withmoney markets showing an even chance of a hike .

Consumer prices areexpected to edge up 0.1% in July after falling 0.4% in June, according to aReuters poll. Annual CPI inflation ​isforecast to slow to 3.4% from ​3.5% amonth earlier.

"Everyone's got ⁠their eyes on the CPI report," SkyeMasters, head of markets research at National Australia Bank, said on apodcast. "If you do see the print coming in at zero, I think you'llobviously see a reasonable rally in ​Treasuriesas the market unwinds expectations for the Fed tightening."

Markets are alsoincreasingly pricing in an early ​ratehike in Japan, ⁠puttingpressure on the nation's shorter-dated bonds. The yield on the 5-year Japanesegovernment bonds rose to 2.1%, a record high, while the 2-year yield reached a31-year peak of 1.63%.

The dollar index ,which measures the greenback against a basket of currencies, rose 0.04% to99.85. The euro was down 0.02% at $1.1538.

The Japanese yen ⁠weakened 0.03% ​against the greenback to 159.31 per dollar, remaining off last week'shigh of 155.20 after ​severalsuspected rounds of intervention. Sterling weakened 0.01% to $1.3501.

In early Europeantrades, the pan-region Euro Stoxx 50 futures were down 0.15% at 6,563, GermanDAX futures fell 0.12% at 26,444, and ​FTSEfutures lost 0.25% to stand at 10,825.

U.S. stock futures,the S&P 500 e-minis , were up 0.03% at 7,750.

Only the headline isedited by Shafaq News.

ShafaqNews- Baghdad

Iraq'sdelivery companies are warning that rising licensing costs, new fees andoverlapping government regulations are putting increasing pressure on a sectorthat has become a key link between small businesses and their customers.

More than25 delivery companies are closing each day because of the cost of renewinglicenses and rising charges, Rami Ali, manager of Al-Sultan Road DeliveryCompany, stated on Tuesday.

Speakingat a forum in Baghdad that brought together representatives of deliverycompanies, lawmakers and government officials to discuss the challenges facingthe sector, Ali noted that renewing licenses costs companies 8 million Iraqidinars ($6,100) a year for services that are not actually provided.

“Half ofthe delivery fee goes to the courier and the other half to the company,” headded, cautioning that the financial pressure is particularly heavy forcompanies operating on relatively narrow margins, with profits accounting forno more than 13% of delivery fees.

Thefinancial strain comes alongside a dispute over which government body shouldregulate delivery companies, with the Transport Ministry and CommunicationsMinistry both involved in the sector.

Read more: Iraq's e-commerce boom fuels growth, fraud, and consumer mistrust

Legalexpert Ayoub Rashid argued that the laws underpinning the regulatory frameworkare inconsistent with those currently in force, leaving the two ministries withoverlapping authority.

“Transportfalls under the jurisdiction of the relevant ministry, and no other ministry isauthorized to regulate it,” he maintained, contending that the CommunicationsMinistry cannot impose fees on delivery companies without a clear legal basis.

Thedispute extends beyond the companies themselves, with potential implicationsfor the growing number of small businesses and households that rely on deliveryservices to reach customers.

Economicexpert Khaled al-Jabri described delivery companies as a key link in Iraq'se-commerce sector, particularly for people who produce goods from their homesand depend on delivery services to sell them.

“Deliverycompanies provide the link between producers and consumers, particularly forbusinesses that can be operated from home and do not require extensiveadministrative or legal procedures,” Jabri told Shafaq News.

Many ofthese small activities generate revenues below the threshold for tax exemptionsand have limited dealings with company registration offices or other governmentdepartments, he added, stressing that disruptions to the sector could thereforeaffect the livelihoods of hundreds of thousands of families, particularly asIraq faces significant financial pressures.

Read more: 2026 budget: Iraq confronts unprecedented fiscal strain

ShafaqNews- Baghdad

Iraqplans to raise gas production from the Ajeel field in Saladin province toaround 300 million standard cubic feet per day, the Oil Ministry stated onTuesday.

DeputyOil Minister for Gas Affairs Izzat Saber Ismail said the projected output wouldstrengthen the national gas system and could also support production ofliquefied petroleum gas and condensates.

Theministry is assessing whether existing North Gas Company facilities can processthe additional volumes or whether new infrastructure will be required at Ajeel,taking into account rehabilitation and development work under Iraq’s contractwith BP.

Tefield’s development should pair higher crude output with greater use ofassociated gas to reduce flaring and improve utilization of Iraq’s hydrocarbonresources, according to Deputy Oil Minister for Extraction Affairs Naseer Aziz.

Ajeel isone of Saladin province’s active oil and gas fields. North Gas Company wasproducing about 410 million standard cubic feet per day of associated gas in2025, while Kirkuk gas output currently stands at about 255 million standardcubic feet per day, with BP-linked development targeting 400 million.

Read more: Four Iraqi Kirkuk fields target 450K bpd under BP

Shafaq News- Baghdad

A proposal to double the basic salary paid to Iraqipublic employees during long-term leave from 50% to 100% has raised financialand legal concerns over the cost to the state, the fate of reserved posts, andhow such periods would count toward service and pensions.

Parliament’s Legal Committee has agreed to theincrease as lawmakers consider legislation allowing public employees to takeextended leave and work in the private sector, committee member Mohammed JassimAl-Khafaji told Shafaq News, clarifying that it would also set the duration ofleave and regulate employment outside government institutions, job protections,and pension entitlements.

“The aim is to give employees an opportunity tobenefit from their experience and capabilities during the leave period whilepreserving their employment status under regulations to be defined by law.”

The increase, Al-Khafaji noted, remains underparliamentary consideration and could change before a final vote.

Financial And Legal Concerns

Speaking to Shafaq News, legal expert Haider AnisAl-Rubaie warned that paying the full basic salary to employees who are notproviding government services would add to pressure on public finances. Heurged lawmakers to assess the number of potential beneficiaries, the expected Treasurycost, and the long-term pension implications before expanding the benefit.

Al-Rubaie also questioned whether posts should remainreserved for employees absent for several years, potentially limiting the state’sability to address staffing shortages, arguing, “Public employment is notmerely a financial position, but a responsibility linked to providing servicesto citizens.”

He considered extended leave a possible component ofadministrative reform but cautioned that any system should avoid restrictingopportunities for job seekers or preventing public institutions from fillingvacancies.

Economic monitor Eco Iraq separately called for theproposal’s total financial cost to be determined before approval, pointing to thecountry’s already high recurrent spending.

What The Proposal Allows

Parliament has completed the first reading of aFinance Committee version allowing employees with at least one year of serviceto take leave for five years or longer while receiving 50% of their basicsalary, or unpaid leave for at least six months.

Beneficiaries could work in the private sector andhave the period counted toward retirement by paying the required pensioncontributions. Contract employees would also qualify and could complete theirremaining terms after returning.

The Legal Committee’s proposed 100% rate would doublethe payment contained in the version that passed its first reading.

Employee Concerns

Government employees interviewed by Shafaq Newsfocused largely on their status after returning to public service. Ali Hamedviewed the full payment as useful for those facing personal circumstances orseeking experience in the private sector but called for safeguards coveringpromotions, reinstatement, and career progression.

Sundus Jalil also welcomed the higher rate, whilestressing that employees taking several years of leave need clearly definedrights and obligations.

Shafaq News- Baghdad

Iraq’s money supply has risen by nearly 10% since the start of the year while inflation has remained around 3%, a combination that could signal weaker non-oil activity or increased cash hoarding, economist Manar Al-Obaidi warned on Tuesday.

Under stable money velocity and output growth, a larger money supply would normally put upward pressure on prices. Al-Obaidi argued that the absence of such an increase points to two possible explanations: a marked slowdown in non-oil GDP or weaker circulation of money through the economy.

Read more: Iraq turns to bank borrowing to cover August salaries amid oil-revenue collapse

A non-oil slowdown, he warned, would directly hit private-sector employment. Trade, which is Iraq’s “third-largest contributor to GDP after oil and the government sector,” has also been pressured by the ASYCUDA customs system, higher tariffs and transport and shipping problems.

As an indicator of weaker commercial activity, Al-Obaidi cited a 41% year-on-year decline in Central Bank of Iraq sales, acknowledging that precise data measuring the fall in company activity and demand for jobs remain unavailable.

The second possibility is increased cash hoarding, driven by market concerns over government liquidity and leaving a larger share of issued money outside active circulation.

Al-Obaidi called for urgent stimulus for the commercial and industrial sectors through easier business procedures and tax and customs exemptions, arguing that low inflation should be maintained without constraining private-sector growth and job creation.

Iraq is also facing a liquidity squeeze, with the government moving to borrow more than 3 trillion dinars (about $2.3B) from local private banks to cover August salaries. Government spokesman Haidar Al-Aboudi put monthly state spending needs at about 10.8 trillion dinars (around $8.2B), against oil revenues of roughly 2.5 trillion dinars (nearly $1.9B), while economist Ahmed Eid warned that heavier public borrowing could restrict credit to private businesses and further slow economic activity.

Read more: 2026 budget: Iraq confronts unprecedented fiscal strain

Shafaq News- Baghdad/ Erbil

The US dollar closed Tuesday’s trading higher in Baghdad and Erbil, hovering around 154,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya central exchanges at 153,750 dinars per 100 dollars, up from 153,250 dinars in morning trading.

In the Iraqi capital, exchange shops sold the dollar at 154,250 dinars and bought it at 153,250 dinars, while in Erbil, selling prices stood at 153,450 dinars and buying prices at 153,400 dinars.

Shafaq News- Washington

US crude oil imports from Iraq fell to zero in the latest four-week average, down from 45,000 barrels per day in the preceding period, according to the US Energy Information Administration (EIA).

The drop extends a sharp decline in Iraqi crude shipments to the United States. EIA weekly data showed no imports from Iraq in the weeks ending July 3, July 10, and July 17, after shipments had already fallen to zero in two weeks of June.

Iraq, OPEC's second largest producer, ranked seventh among the United States' top 10 crude oil suppliers based on 2024 volumes, according to the EIA's weekly import table. The United States imported an average of about 179,000 barrels per day of Iraqi crude in 2025, compared with 198,000 bpd in 2024 and 213,000 bpd in 2023.

Shafaq News- Baghdad/ Erbil

Gold prices rose in Baghdad on Tuesday, with 21-carat foreign gold reaching 948,000 Iraqi dinars per mithqal, up 8,000 dinars from Monday, while prices in Erbil held steady.

According to Shafaq News market survey, wholesale markets on Baghdad’s Al-Nahr Street priced 21-carat Gulf, Turkish, and European gold at 948,000 dinars per mithqal for sale and 944,000 dinars for purchase. The selling price stood at 940,000 dinars on Monday.

Iraqi 21-carat gold was quoted at 918,000 dinars per mithqal for sale and 914,000 dinars for purchase.

At Baghdad jewelry shops, retail prices for 21-carat Gulf gold ranged between 950,000 and 960,000 dinars per mithqal, while Iraqi gold traded between 920,000 and 930,000 dinars.

In Erbil, gold prices were unchanged, with 22-carat gold selling at 978,000 dinars per mithqal, 21-carat at 935,000 dinars, and 18-carat at 800,000 dinars.

Shafaq News- Baghdad/ Erbil

The US dollar openedTuesday’s trading higher in Iraq, hovering around 153,000 dinarsper 100 dollars.

According to Shafaq News marketsurvey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,250dinars per 100 dollars, up from the previous session’s 152,500 dinars.

In the Iraqi capital, exchange shopssold the dollar at 153,750 dinars and bought it at 152,750 dinars,while in Erbil, selling prices stood at 153,150 dinars and buying pricesat 153,050 dinars.

Shafaq News-Ankara

TurkishMediterranean exporters shipped $16.8 million million worth of cereals, pulses,oilseeds and related products to Iraq in July, making it their second-largestforeign market after Iran.

TheMediterranean Cereals, Pulses, Oilseeds and Products Exporters’ Association(AHBIB) recorded $173.5 million in total exports during the month, up 13% froma year earlier. Pulses led exports at $36.3 million, accounting for 22% of thetotal, followed by vegetable oils at $35.8 million and pastry products at $32.8million, while red lentil exports reached $26.6 million, up 65% in value.

Iran rankedfirst among AHBIB’s July markets at $21.3 million, followed by Iraq at $16.8million and Syria at $9.9 million.

TurkiyeExporters Assembly President Mustafa Gultepe has described Iraq as one ofTurkiye’s key export markets, with cereals among the three leading Turkishexport sectors to the country. Turkiye’s total exports reached a record $25.6billion in July, up 2.9% year on year.

Shafaq News- Basrah

Iraq’s Basrah crude climbed morethan 0.5% on Tuesday, as global oil markets moved higher.

Basrah Heavy crude rose by 30 cents,or 0.55%, to $55.09 per barrel, while Basrah Medium crude gained 30 cents, or0.53%, to settle at $57.39 per barrel.

Brent crude advanced by 22 cents, or0.25%, to $87.94 per barrel, while US West Texas Intermediate crude increasedby 22 cents, or 0.27%, to $82.37 per barrel.

UAE Murban crude jumped 5.79% to$84.90 per barrel, while OPEC's basket climbed 3.33% to $79.53 per barrel.

Shafaq News

Oil prices rose on Tuesday asnegotiations between the United States and Iran over a peace deal and thereopening of the Strait ​of Hormuz hit an impasse, while Asian shares driftedon protracted uncertainty over the global inflation outlook.

U.S. President Donald Trumpresponded with his own ‌demands on Monday to Iran's conditions for a peacedeal, calling for Iran to pay compensation for those killed in wars, attacksand protests, in a rhetorical escalation likely to complicate efforts to reopenthe crucial waterway.

Brent crude futures edged up to$88.09 per barrel and U.S. crude futures rose to $82.52, both the highestlevels since July 31, after the contracts rallied roughly 5% on Monday.

"We're ​now in a bit of aMexican standoff, if you'd like, in terms of who blinks first," said TonySycamore, a market analyst at IG.

"This ​is going to be almost awar of attrition now," he said. "You probably can see the (oil)market sitting around the $75 to $95 ⁠range while we wait to see who blinksfirst."

The latest uptick in fuel costsraises the stakes for the U.S. July consumer price report due on Wednesday, ​atwhich expectations are for a monthly rise of 0.1% in the headline reading and0.2% for the core measure.

Any upside surprise could rekindlebets of a Federal Reserve ​rate hike next month, with the odds currently a cointoss.

"We think the risks are skewedtowards a hot print, which would probably drive a rebound in rate expectationsand, potentially, renewed worries about stagflation," said JonasGoltermann, chief markets economist at Capital Economics.

"Overall, our assessmentremains that the U.S. economy is running a bit hotter than a 'Goldilocks'situation. That points to higher interest ​rates."

Trading of cash U.S. Treasuries wasclosed in Asia on Tuesday owing to a holiday in Japan, but futures fellslightly, implying higher yields.

The Reserve Bank of Australia (RBA)​held its cash rate steady at 4.35% for a second straight meeting on Tuesday,saying the economy was slowing as expected, but warned it might yet hike againif needed to control ‌inflation.

MSCI's broadest ⁠index ofAsia-Pacific shares outside Japan swung between losses and gains and was up0.36%, while South Korea's KOSPI rose 1.3%, as the latest escalation in Gulfhostilities kept market sentiment fragile.

Nasdaq futures edged 0.34% higherwhile S&P 500 futures added 0.13% after Wall Street ended lower in Monday'scash session.

EUROSTOXX 50 futures were flat,while FTSE futures fell 0.05% and DAX futures edged 0.07% higher.

Overnight, Nvidia said it partneredwith six major financial institutions to launch compute financing platformsaimed at raising more than $500 billion in third-party ​capital for AIinfrastructure, underscoring the scale ​of the sector's investment boom.

"A small ⁠part of me was leftwondering whether this is how it felt when sub-prime mortgages first became amainstream product - the innovation that eventually helped trigger theGFC," added Sycamore.

Hong Kong's Hang Seng Index was down0.6%, while China's CSI300 blue-chip index ​eased 0.05%.

Among currencies, the yen was backin the spotlight, struggling on the weaker side of 159 to the dollar ​and welloff last ⁠week's high of 155.20 after several suspected rounds of intervention,including a joint one by Japan and the United States.

"The market likely remainsvigilant about further joint U.S.-Japan yen-buying intervention, so USD/JPYbreaching 160 in the very near term seems unlikely," Nomura analysts saidin a note.

"However, the latest priceaction indicates there are quite a lot of USD/JPY dip-buyers, after ⁠the pair​reached the 156 to 157 range for the first time since May."

The dollar got a marginal lift ​fromthe renewed climb in oil prices, keeping the euro away from a 1-1/2-month highas it traded at $1.1541, while sterling eased from Monday's one-month top andchanged hands at $1.3511.

The Australian dollar brieflyslipped in ​the wake of the RBA decision and was down 0.07% by $0.7049.

Elsewhere, spot gold was up 0.33% to$4,402.52 an ounce.

(REUTERS)

Only the headline is edited byShafaq News.

Shafaq News- Baghdad

Iraq is moving toward Syria andJordan as potential crude export outlets after Turkiye, as Baghdad seeks todiversify its routes to international markets, parliamentary Oil Committeemember Zainab Al-Khazraji told Shafaq News on Monday.

After the agreement to export onemillion barrels of oil per day through the Turkish port of Ceyhan, the government is also holding talks with Iran regarding the movement of Iraqi oil tankersthrough the Strait, she added.

Iraq, OPEC’s second-largest oilproducer, relies on crude exports for about 90% of federal revenue, leaving thecountry particularly exposed to disruptions in the Strait of Hormuz. This waterway normallycarries roughly one-fifth of global oil supplies. In late March, Oil Minister Basim Mohammed Khudair confirmed that the country is currently producing 2.7 million barrels of oil per day, with exports ranging between 1.5 and 1.7 million barrels daily.

Read more: Iraq's oil revenues under US financial guard 23 years after invasion

Maritime traffic through the straitremains sharply restricted following its closure since February 28. Only sevenvessels crossed in the past 24 hours —five inbound and two outbound— with sixvisible through the Automatic Identification System (AIS) and one operatingwithout an AIS signal, according to maritime intelligence firm Windward.

Read more: No exit but Hormuz: Iraq’s economic vulnerabilityexposed

Against that backdrop, the OilMinistry earlier today unveiled plans for a new pipeline system along tworoutes, one reaching Fishkhabur on the Turkish border and another extending toBaniyas on Syria’s Mediterranean coast, as part of efforts to reduce relianceon Hormuz. A government source previously told Shafaq News that an Iraqidelegation would visit Iran for talks on energy supplies and securing passagefor tankers carrying Iraqi crude through the waterway.

Shafaq News- Baghdad/ Erbil

The US dollar closed Monday’s trading higher in Iraq, hovering around 153,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 152,950 dinars per 100 dollars, up from the morning session’s 152,500 dinars.

In the Iraqi capital, exchange shops sold the dollar at 153,500 dinars and bought it at 152,500 dinars, while in Erbil, selling prices stood at 152,800 dinars and buying prices at 152,750 dinars.

Shafaq News- Baghdad

The Iraq Stock Exchange (ISX)recorded 120.03 billion Iraqi dinars in trading value during July (roughly$91.2M), up 1.2% from June.

According to market data, morethan 166.66 billion shares were traded during the month, up 54.9%from June, across 21 regular trading sessions.

The ISX60 index closed themonth at 1,041.07 points, marking a 2.1% increase from June’s1,019.39 points, while the ISX15 index fell 0.48% to 1,267.67points from 1,273.79.

Throughout the month, the exchangeexecuted 24,342 sale and purchase contracts, down 8.3%month-on-month, with 85 companies out of 125 listed firms recording tradingactivity.

Shafaq News-Baghdad

Iraq ispressing ahead with plans to build a new pipeline system carrying crude oilthrough two routes, one reaching Fishkhabur on the Turkish border and anotherextending to Baniyas on Syria's Mediterranean coast, as part of a broader pushto reduce dependence on the Strait of Hormuz following its closure sinceFebruary 28.

The OilMinistry said Deputy Minister for Extraction Affairs Nassir Aziz chaired ameeting Monday to discuss the project, which envisions two corridors: Basra–Haditha–Fishkhaburand Haditha–Baniyas. The routes would provide additional export outletsalongside Iraq's main southern terminal, enhancing the flexibility of thecountry's export system and opening multiple marketing options for Iraqi crude,the ministry said in a statement.

Aziz stressedthe importance of accelerating implementation mechanisms and identifyingtechnical requirements, alongside completing negotiations with an internationalconsortium comprising UCC, TI Capital, and Chevron on investing in the projectunder a Build-Operate-Own-Transfer (BOOT) model.

On July 17, a memorandumof understanding signed by Iraq and Syria under US sponsorship to reactivatethe Kirkuk–Baniyas pipeline, enabling Iraqi crude to reach Mediterranean portsthrough Syrian territory.

Read more: Preparatory studies begin on Kirkuk-Baniyas pipeline rehabilitation

Shafaq News-Baghdad/ Erbil

On Monday, goldprices ticked higher in Baghdad and Erbil, hovering around 950,000 IQD permithqal, according to Shafaq News market survey.

Gold prices onBaghdad's Al-Nahr Street recorded a selling price of 940,000 IQD per mithqal(equivalent to five grams) for 21-carat gold, including Gulf, Turkish, andEuropean varieties, with a buying price of 936,000 IQD. The same gold had soldfor 937,000 IQD on Sunday.

The sellingprice for 21-carat Iraqi gold stood at 910,000 IQD, with a buying price of906,000 IQD.

In jewelrystores, 21-carat Gulf gold ranged between 940,000 and 950,000 IQD per mithqal,while Iraqi gold sold for between 910,000 and 920,000 IQD.

In Erbil,22-carat gold was sold at 978,000 IQD per mithqal, 21-carat gold at 935,000IQD, and 18-carat gold at 800,000 IQD.

Shafaq News-Baghdad/ Erbil

The US dollaropened Monday's trading higher in Iraq, hovering around 152,500 dinars per 100dollars in Baghdad and Erbil.

According toShafaq News market survey, the dollar traded in Baghdad's Al-Kifah andAl-Harithiya exchanges at 152,500 dinars per 100 dollars, up from Sunday's152,100 dinars.

In the Iraqicapital, exchange shops sold the dollar at 153,000 dinars and bought it at152,000 dinars.

In Erbil,selling prices stood at 152,500 dinars and buying prices at 152,400 dinars.