Shafaq News- Basra

Four foreign oil tankers with a combined capacityof seven million barrels are at Basra port for loading, a source at the GeneralCompany for Ports of Iraq told Shafaq News on Friday.

The vessels included three large vessels capable of carrying two millionbarrels each and a smaller one-million-barrel tanker.

Earlier today, Oil Minister Basim Mohammed Khudair Al-Abadi said Iraqexported about 49 million barrels of crude oil in July.

Read more: Iraq ships 49M barrels, advances Basra-Fishkhabur pipeline

Shafaq News-Basra

Iraqexported about 49 million barrels of crude oil in July, while talks with Iranand the United States continue over the passage of Iraqi shipments through theStrait of Hormuz, Oil Minister Basim Mohammed Khudair Al-Abadi announced onFriday.

Speaking ata joint press conference with Basra Governor Asaad Al-Eidani, Al-Abadi saidfour tankers were loaded with crude today and are preparing to sail. Dailyexports have averaged two million barrels since the beginning of August, "thefirst time Iraq has reached that level since the regional crisis began."

The OilMinistry, through the State Organization for Marketing of Oil (SOMO), Basra OilCompany, and other companies, is also pursuing exceptional contracts toincrease exports. Al-Abadi reaffirmed plans for a strategic pipeline linkingBasra to Fishkhabur near the Turkish border to diversify Iraq’s oil exportoutlets and avoid potential disruptions to energy shipments through Hormuz.

The projectwill be implemented by a consortium comprising Chevron, IT Capital, and Qatar’sUCC under an agreement signed in Washington during the Iraqi governmentdelegation’s visit to the United States in July. Running from Basra toFishkhabur, with a branch extending to Baniyas on Syria’s Mediterranean coast,the pipeline was previously delayed by financial constraints but would connectcrude supplies to refineries across Iraq for the first time, increase exportsthrough the Turkish port of Ceyhan, modernize oil infrastructure, boost staterevenues, and create jobs.

Hormuz willremain an important export route alongside Ceyhan and other outlets under thegovernment’s strategy, he added.

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

Iraq, OPEC’ssecond-largest oil producer, ships about 90% of its crude exports through theStrait of Hormuz, leaving the country particularly exposed to disruptions inthe waterway, which normally carries roughly one-fifth of global oil supplies. ParliamentaryOil Committee member Zainab Al-Khazraji previously told Shafaq News that Jordanis also being considered as a potential outlet for Iraqi crude.

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

Al-Eidani,in turn, pointed to plans to develop the Faihaa field and other oil fields inBasra, establish an extensive pipeline network, and increase the use ofassociated gas to fully supply power stations, with any future surplus intendedfor export through Iraqi ports.

Shafaq News

Gold prices slipped on Friday andwere headed for a ‌weekly loss as investors locked in profits after mild U.S.inflation data propelled bullion to its highest level in more than two monthsand weakened the case for a near-term Federal Reserve rate hike.

Spot gold ​was down 0.6% at$4,324.39 per ounce, as of 0538 GMT. While U.S. gold ​futures for Decemberdelivery slid nearly 1% to $4,379.20.

Bullion climbed to its highest point⁠since June 5 on Thursday, before settling 1.3% lower and setting it on track​for a weekly loss.

"There is some episodic andmore speculative capital that's maybe taking a bit ​of profit in gold, becausethere's not a near-term catalyst quite so potent immediately in front ofus," said Ilya Spivak, head of global macro at finance content networkTastylive.

"Gold may be setting up, with​some choppy trading along the way, for a meaningful rally now. And if we can​take out $4,400, I don't think $5,000 by year end is any kind of asketch."

The non-yielding metal got ‌a boost⁠after an unexpected drop in U.S. July nonfarm payrolls last week, followed bysofter inflation data this week, sharply reducing expectations of a rate hikenext month.

U.S. producer prices were unchangedin July, following a revised 0.1% drop in June, while U.S. consumer pricesbarely increased last month ​as the cost of ​gasoline declined for ⁠a secondconsecutive month.

Traders are now pricing only a 33%chance of a rate hike in September, down from about 55% last week, ​accordingto the CME FedWatch Tool. FEDWATCH

Lower interest rates make gold more​attractive relative ⁠to yield-bearing assets.

On the geopolitical front,Washington on Thursday threatened to maintain a naval blockade of Iranindefinitely, ratcheting up economic pressure on Tehran as ceasefire talks havefloundered.

In other metals, spot silver⁠slipped 0.9% ​to $63.88 per ounce.

Platinum slipped 0.4% to $1,711.10,while palladium inched ​0.1% higher at $1,308.25, both touching their lowestlevels since August 4 earlier in the session. Both metals were headed ​for aweekly drop.

(REUTERS)

Only the headline is edited byShafaq News.

Shafaq News

Oil prices inched up on Friday afterthe United States threatened an indefinite naval blockade of Iran, reviving​concerns about supply of crude after the previous session's fall on a weakeroutlook ‌for demand and a large build in U.S. stocks.

Brent futures rose 1 cent, or 0.1%,to $87.08 a barrel by 0247 GMT, while U.S. West Texas Intermediate (WTI) crudefutures rose 6 cents to $81.31 a barrel.

The benchmarks were on track ​forweekly rises of about 4% after the prior session's fall of more than 2%,​paring gains following Brent's six-session rally and a five-session rise forWTI.

"Despite the ⁠bearish crudestock data, the broader geopolitical backdrop is preventing a sharper pricedecline," Susan Bell, senior ​vice president for oil commodity markets atRystad Energy said in a note.

On Thursday, the United States​warned that it could maintain a naval blockade of Iran indefinitely and rampup economic pressure on Tehran as ceasefire talks have stalled.

"Watch this space for moreannouncements coming next week because we are going to apply measures like have​never been seen in the history of economic isolation of a country,"Treasury Secretary Scott Bessent ​told Newsmax's "Rob Schmitt Tonight"programme in an interview.

The latest U.S. threats come as Irancurbs traffic through the Strait ‌of Hormuz, ⁠which carried 20% of the world’soil before the conflict, driving up fuel prices and putting pressure onPresident Donald Trump to end a war that is unpopular at home.

The strait is "under themanagement and control of the Islamic Republic", however, the recentlyappointed head of Iran's Basj paramilitary unit, ​Hossein Taeb, has said,according to ​the semi-official Fars ⁠news.

The prospect of a longer warconstraining supply was offset this week by forecasts from OPEC and theInternational Energy Agency lowering outlooks for demand growth, while ​datashowed the largest weekly gain in U.S. crude stocks for more than ​3-1/2-years.

KCM chief ⁠market analyst TimWaterer said the two forces were acting as counterweights.

"The result is a market thatremains supported but struggles to break meaningfully higher while theseopposing pressures remain in place."

Two vessels from the ⁠state-ownedAbu ​Dhabi National Oil Company were attacked transiting the Strait of Hormuz​on Thursday, said UAE state news agency WAM, an incident the United ArabEmirates government condemned as an Iranian attack.

(REUTERS)

Only the headline is edited byShafaq News.

Shafaq News- Baghdad/ Erbil/ Ankara

Iraq’s northern oil exports have fallen to between 120,000 and 135,000 barrels per day (bpd) from nearly 300,000 bpd about a month ago, three Iraqi oil sources told Shafaq News on Thursday.

The drop was caused by suspended production at several Kurdistan Region fields and the halt of roughly 90,000 bpd of Basrah crude that had been routed north through Kirkuk for export to Turkiye. Security conditions also prompted foreign operators in the Kurdistan Region to reduce or suspend activity at some fields, cutting production by about 60,000 bpd.

Exports are currently holding near 130,000 bpd through the northern pipeline system to Turkiye’s Mediterranean port of Ceyhan. The sources said volumes could recover by around 150,000 bpd if production resumes at the affected Kurdistan Region fields and Basrah crude again flows north.

On July 31, Iraq and Turkiye signed a one-year agreement covering the Iraq-Turkiye pipeline and providing for around 750,000 bpd of export capacity through Ceyhan after the expiry of the previous pipeline agreement, with Baghdad and Ankara continuing negotiations on a longer-term framework.

The northern route has gained strategic importance during the Hormuz crisis. Iraq exported only 10 million barrels through the strait in April, down from about 93 million barrels a month before the regional war disrupted Gulf shipping, according to Oil Minister Basim Mohammed.

Shafaq News- Baghdad

The Central Bank of Iraq (CBI) has recorded notableshifts and a marked decline in its financial indicators, with the bank's netclaims on the government rising even as official reserves shrink, economistManar al-Obaidi, head of the Future Iraq Foundation for Economic Studies andConsultancy, revealed on Thursday.

CBI net claims on the government registered a sharpincrease, reaching 66.6 trillion dinars (approximately $50.8B), compared to 35trillion dinars (approximately $26.7B) at the start of 2025, al-Obaidi said,based on an economic reading drawing on the latest operational and bankingdata.

Net official reserves held by the central bank fell to102 trillion dinars (approximately $77.8B), down from 130 trillion dinars(approximately $99.2B) at the start of 2026, al-Obaidi added, noting that Julyalone saw the central bank lose approximately 10.3 trillion dinars(approximately $7.9B) from its foreign currency and banking reserves.

Shafaq News- Baghdad/ Erbil

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

According to a Shafaq News market survey, the dollar tradedin Baghdad's Al-Kifah and Al-Harithiya exchanges at 152,900 dinars per 100dollars, up from the morning session’s 152,750 dinars.

In the Iraqi capital, exchange shops sold the dollar at 153,500dinars and bought it at 152,500 dinars, while in Erbil, selling prices stood at153,050 dinars and buying prices at 153,000 dinars.

Shafaq News- Baghdad

Iraq’s Basrah Medium crude fell $6.73 per barrel inJuly to average $78.37, marking the fourth-largest monthly decline among theOrganization of the Petroleum Exporting Countries (OPEC) basket crudes, accordingto the organization’s latest report.

The Iraqi grade slipped from $85.10 in June butaveraged $91.24 during the first seven months of 2026, about 28% above its$71.27 average last year.

Kuwait Export posted the steepest monthly loss of$10.26 per barrel, followed by Arab Light at $9.01 and Iran Heavy at $8.70.

OPEC’s Reference Basket shed $6.76 to $82.99 perbarrel in July, from $89.75 a month earlier. Its January-July average reached$92.04, compared with $71.88 in 2025.

Shafaq News- Baghdad

Iraq’s car market contracted sharply in the first halfof 2026, with sales falling 28.6% year-on-year to 59,264 vehicles, according toautomotive market research platform Focus2move.

Kia remained the country’s largest-selling brand witha 28% market share, despite a 27.8% drop in sales. Toyota ranked second with22% of the market as its sales fell 24%, while Nissan placed third after a13.3% decline.

MG ranked fourth with an 8.9% share despite salesfalling 31.6%, while Jetour climbed to fifth with 8.4% after recording 29.2%growth.

Among other leading brands, Hyundai recorded thesteepest decline, with sales down 69.7%, while Great Wall grew 6.9%.

The electric vehicle segment suffered an even steepercontraction, with sales dropping 72%. BYD led the segment with a 48.3% share,followed by Toyota at 43.4%.

Sales grew strongly between 2021 and 2024, reaching158,076 vehicles in 2024, before the market reversed course.

Shafaq News- Baghdad/ Erbil

On Thursday, gold prices fell across Baghdad and Erbil,hovering around 940,000 IQD per mithqal, according to Shafaq News marketsurvey.

Gold prices on Baghdad's Al-Nahr Street recorded a sellingprice of 946,000 IQD per mithqal (equivalent to five grams) for 21-carat gold,including Gulf, Turkish, and European varieties, with a buying price of 942,000IQD. The same gold had sold for 957,000 IQD on Wednesday.

The selling price for 21-carat Iraqi gold stood at 916,000IQD, with a buying price of 912,000 IQD.

In jewelry stores, 21-carat Gulf gold ranged between 950,000and 960,000 IQD per mithqal, while Iraqi gold sold for between 920,000 and930,000 IQD.

In Erbil, 22-carat gold was sold at 982,000 IQD per mithqal,21-carat gold at 937,000 IQD, and 18-carat gold at 804,000 IQD.

Shafaq News- Baghdad/ Erbil

The US dollar opened Thursday's trading lower in Iraq, hovering around 152,500 dinars per 100 dollars in Baghdad and Erbil.

According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 152,750 dinars per 100 dollars, down from Wednesday’s 153,300 dinars.

In the Iraqi capital, exchange shops sold the dollar at 153,250 dinars and bought it at 152,250 dinars.

In Erbil, selling prices stood at 152,950 dinars and buying prices at 152,850 dinars.

ShafaqNews- Basrah

Iraq’sBasrah crude prices advanced about 15% on Thursday, despite losses in benchmarkcrude futures.

BasrahHeavy crude increased by $7.72, or 14.01%, to $62.81 per barrel, while BasrahMedium crude added $8.72, or 15.20%, to $66.11 per barrel.

Brentcrude futures fell by 42 cents, or about 0.47%, to $88.56 a barrel. US WestTexas Intermediate (WTI) lost 55 cents, or 0.66%, to $82.72 a barrel.

OPEC’sbasket rose to $86.60 a barrel, gaining $5.98, or 7.42%. Marban crude moved upto $90.08 a barrel, up 1.10%, while Dubai crude stood at $84.56 a barrel, 0.59%higher.

Shafaq News

Oil prices eased on Thursday after gains in previoussessions, as attention turned to expectations of weaker global oil demand thisyear, while there was no progress on opening the vital Strait of Hormuz.

Brent futures slipped 42 cents, or 0.47%, to $88.56 a barrelby 0405 GMT. U.S., trimming gains made over the previous six sessions.

West Texas Intermediate (WTI) crude fell 55 cents, or 0.66%,to $82.72, after advancing over the past five sessions.

A senior Iranian source said on Wednesday there had been noprogress in talks to revive an interim ⁠dealagreed in June and define a timeframe to implement it.

"There was little in the way of fresh developmentsbetween the U.S. and Iran, with both sides remaining in a deadlock," saidING analysts in a note on Thursday.

"Meanwhile, the latest large drone attack on Russia'sNovorossiysk port appears to have spared oil infrastructure, with no reports ofdamage to oil terminals as of now."

With no change in the prospect of reopening the Strait ofHormuz, the key factor that had driven prices higher over the past week,attention turned to the demand outlook following a surprise build in U.S. crudestocks and lower consumption forecasts from OPEC and the International EnergyAgency.

U.S. commercial crude oil inventories posted their largestweekly gain ⁠since January2023 as exports slumped, data from the Energy Information Administration showedon Wednesday.

Crude inventories rose by 17.4 million barrels to 424.4million barrels in the week ended August 7, their highest since June 5, the EIAsaid, compared with analysts' expectations in a Reuters poll for a 1.4million-barrel draw.

On the same day, the Organization of the Petroleum ExportingCountries lowered its world oil demand ⁠growthforecast for 2026 to 580,000 barrels per day in its monthly oil market report.

At the same time, the International Energy Agency said itexpects a 1.6 million bpd contraction in consumption this year, down from aforecast of 1 million bpd last month, with demand ⁠curtailed by higher prices and restricted supplydue to the U.S.-Israeli war with Iran.

Still, the deadlocked talks between Iran and the U.S. to endthe war in the Gulf have kept a floor under prices.

"The safety situation for navigation in ⁠these waters has furtherdeteriorated, forcing vessels to turn off their signals, which reducestransparency in shipping and makes it more difficult for the market to trackand assess actual supply levels," analysts at Haitong Futures said in anote.

(REUTERS)

Only the headline is edited by Shafaq News.

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 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