logo
Beyond state lines: Iran's Ilam calls for cooperation with Karbala

Beyond state lines: Iran's Ilam calls for cooperation with Karbala

Shafaq News16-04-2025

Shafaq News/ The governor of Iran's Ilam province on Wednesday called for enhanced cooperation with Iraq's Karbala, with a focus on boosting religious tourism and mutual investment.
During a meeting with local officials in the Iraqi holy city of Karbala, Ilam Governor Ahmad Karami advocated for the activation of "border diplomacy" to complement formal state-level relations, highlighting Ilam's 430-kilometre shared border with Iraq and its significance as a 'key transit point' for religious pilgrims.
Karami proposed the establishment of joint committees across sectors including health, agriculture, science, and tourism. He also extended an invitation to Iraqi investors to pursue development projects within Ilam province.
Furthermore, he suggested the creation of a dedicated follow-up committee to ensure the implementation of bilateral agreements between the two provinces.
The Governor of Karbala welcomed the proposals, stating the city's support for the construction of a railway line connecting Karbala and Ilam to facilitate the movement of pilgrims.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Gold climbs on rising Middle East tensions, weaker dollar
Gold climbs on rising Middle East tensions, weaker dollar

Shafaq News

timean hour ago

  • Shafaq News

Gold climbs on rising Middle East tensions, weaker dollar

Shafaq News/ Gold prices rose on Thursday, bolstered by rising tensions in the Middle East and a weaker dollar, while softer-than-expected U.S. inflation data boosted expectations of Federal Reserve rate cuts. Spot gold was up 0.7% at $3,375.06 an ounce, as of 0343 GMT. U.S. gold futures gained 1.5% to $3,395. The U.S. dollar index fell to a near two-month low, making greenback-priced bullion more attractive to overseas buyers. The weakness in the dollar index serves as a strong catalyst, said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA, adding that a "bullish breakout" of the $3,346 resistance triggered technical buying. Rising geopolitical risks aided safe-haven assets, with President Donald Trump announcing on Wednesday that U.S. personnel were being moved out of the Middle East due to heightened security risks amid rising tensions with Iran. Meanwhile, U.S. consumer prices increased less than expected in May, driven by cheaper gasoline, though inflation could accelerate due to import tariffs. The data prompted renewed calls from Trump for significant rate cuts. "We could potentially see the Fed moving more quickly than anticipated, given the CPI data, which is not particularly alarming at this juncture," Wong said. Traders now expect 50 basis points of rate cut by year-end. U.S. producer price index data is due at 1230 GMT. Meanwhile, Trump said on Wednesday that Washington and Beijing had agreed on a framework to restore a fragile truce in the U.S.-China trade war, potentially avoiding higher tariffs. Trump added he could extend a July 8 deadline for trade talks with other nations before higher U.S. tariffs take effect but did not foresee such a need. Elsewhere, spot silver was up 0.4% at $36.38 per ounce, platinum rose 1.3% to $1,272.50, still hovering near a more than 4-year high, while palladium was down 1% at $1,068.92.

Iraq's oil production fall by 59,000 barrels per day
Iraq's oil production fall by 59,000 barrels per day

Iraqi News

time4 hours ago

  • Iraqi News

Iraq's oil production fall by 59,000 barrels per day

Baghdad ( – A senior Iraqi official at the State Organization for Marketing of Oil (SOMO) revealed on June 2 that the country's oil output in May declined by 59,000 barrels per day as Iraq plans to accelerate measures to compensate for prior overproduction. Iraq's oil production quota rose by 49,000 barrels per day in May, reaching a total of 4.049 million barrels per day, as reported by S&P Global. Since April 2024, eight OPEC+ countries, including Iraq, have resumed their voluntary production cuts of 2.2 million barrels per day. The production limit was set to rise to 411,000 barrels per day in May, June, and July 2025. However, this increase coincides with its compensation plan, which is supposed to compensate for serial overproduction in 2024. In the most recent plan, announced by the OPEC secretariat in Vienna in April, Iraq pledged to produce oil less than its quota by 140,000 barrels per day in May. The volume of crude oil that Iraq exported by sea declined to 3.27 million barrels per day in May 2025 compared to 3.30 million barrels per day in April 2025. According to government sources, Iraq's oil exports in May and June 2025 are expected to be less than 3.2 million barrels per day to meet its OPEC+ production quota. During the first five months of 2025, Iraq's crude oil exports averaged approximately 3.33 million barrels per day, compared to 3.45 million barrels per day during the same period in 2024.

ISX trades +$20M worth of shares in May
ISX trades +$20M worth of shares in May

Shafaq News

time4 hours ago

  • Shafaq News

ISX trades +$20M worth of shares in May

Shafaq News/ On Wednesday, the Iraq Stock Exchange (ISX) announced the trading of over 14 billion shares worth more than 28 billion dinars (approximately $20 million) during May. ISX reported that it conducted 18 trading sessions during the month, with 76 out of 104 listed companies participating in the trades. The total shares traded reached 14,216,936,000, valued at 28,702,000,000 dinars ($20,312,809), executed through 12,149 transactions. The ISX60 price index closed at 1017.58 points, marking a 3% increase compared to the previous session's closing. The Iraq Stock Exchange holds five trading sessions weekly from Sunday to Thursday and lists 104 joint-stock companies operating across the banking, telecommunications, industry, agriculture, insurance, financial investment, tourism, and hotel sectors.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store