Latest news with #Al-Khalidi
Zawya
01-05-2025
- Business
- Zawya
Iraq purses rail, trade zone projects with Iran
Iraq intends to finalise rail and free trade agreements with neighboring Iran with the aim of boosting two-way trade to $25 billion, more than double the present level. A government delegation flew to Tehran this week to put the final touches on the agreements, which involve the construction of a rail link with the border with Iran and the establishment of border free trade and industrial zones. The delegation was headed by Hazim Al-Khalidi, an adviser to Iraqi Prime Minister Mohammed Al-Sudani, and the talks focused on trade exchange besides Iran's gas and power supplies that have largely receded and created havoc in Iraq's power system. Al-Khalidi, quoted by Iraq's media on Tuesday, said Baghdad wants to expand trade with sanctions-hit Iran but he did not make clear if this will include gas and electricity. Al-Khalidi said trade exchange between Iraq and Iran stood at around $11 billion in 2024, nearly 15 percent of Iraq's total non-oil trade of about $70 billion. 'This figure can increase to around $25 billion once agreements are finalized on the establishment of border markets, joint economic zones and industrial cities,' he said. Iran's Minister of Economic Affairs and Finance Abdolnaser Hemmati said Tehran is willing to bolster existing accords and push ahead with the planned rail link and the planned joint industrial and trade zones. He noted that Iran's main exports to Iraq include gas, food products, construction materials, manufactured products and petrochemicals. In late 2023, Al-Sudani and Iranian Vice President Mohammed Mokhber laid the foundation stone for the rail that will link the Southern Iraq port of Basra and the Iranian border town of Shalamcheh. Iraqi government spokesman Bassim Al-Awadi said last year the project would 'largely boost trade and projects, support Iraq's economic infrastructure and make Iraq more capable to collaborate with its neighbors.' The 36-km railway will have a capacity to transport three million passengers per year and will serve the planned border trade and industrial zones, officials have said. The two neighbours also agreed in 2024 to build two joint border free zones with the aim of promoting industrial projects and investments. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Shafaq News
30-04-2025
- Business
- Shafaq News
Iraq eyes $25 billion annual trade volume with Iran
Shafaq News/ The volume of trade between Iraq and Iran could rise to $25 billion annually, Iraqi Prime Minister's advisor Hazem Al-Khalidi said on Tuesday during an official visit to Tehran. Speaking during a visit to Tehran, Al-Khalidi noted that current trade between the two neighboring countries stands at approximately $11 billion, out of Iraq's total foreign trade volume of around $70 billion. 'This figure could increase to $25 billion once agreements are finalized on the establishment of border markets, joint economic zones, and shared industrial cities,' he stated. In turn, Iran's Minister of Economic Affairs and Finance, Abdolnaser Hemmati, underscored the need for 'serious' follow-up on existing agreements, particularly those concerning the completion of the joint Shalamcheh–Basra railway project and the launch of joint economic zones and free trade areas between the two countries. The economic relationship between the two countries is already among the most significant in the region. In the eleven months leading up to mid-February 2025, Iran exported $11.2 billion in non-oil goods to Iraq, including food products, construction materials, manufactured items, and petrochemicals, alongside vital natural gas supplies.
Jordan News
12-04-2025
- General
- Jordan News
Ancient Oak Forests in Bireen: A Natural Heritage Facing Challenges - Jordan News
The ancient oak forests in the Bireen District of Zarqa Governorate represent a natural heritage that has endured for thousands of years, home to over 100,000 oak and juniper trees—some of which are over a thousand years old. اضافة اعلان Hussein Al-Khalidi, Director of Agriculture for the governorate, stated that these forests, considered the "green lung of Zarqa," are facing complex challenges threatening their survival. Chief among these are climate change effects, which have led to decreased rainfall and increased temperatures, disrupting the thermal balance and humidity levels that oak trees depend on. He added that recurring droughts have weakened the trees' resistance to agricultural pests, such as the bark beetle, which accelerates their health decline. Additionally, the spread of juniper trees is depleting water and soil resources at the expense of the oak trees. He also warned of fungal diseases attacking the trees' immune systems, noting that these combined factors are accelerating the phenomenon of "oak decline." Al-Khalidi pointed out that urban and agricultural expansion has reduced forested areas by 15% over the past decade, according to statistics from the Ministry of Agriculture. This has increased competition for limited resources among plant species and weakened the oak trees' ability to reproduce naturally over time. He stressed that overgrazing and illegal logging—despite stricter penalties under Agriculture Law No. 13 of 2015—continue to exacerbate the crisis. Regarding forest distribution, Al-Khalidi explained that they are concentrated in the Bireen District in western Zarqa, especially in the areas of Al-Alouk (the densest), Al-Masarra, Al-Kamsha, Al-Makman, Sarwat, and Bireen. These areas form a unique natural tapestry that attracts around 60,000 visitors during holidays. He revealed a comprehensive plan being implemented by the Directorate of Agriculture to address these challenges, including the strengthening of foot and mobile patrols to prevent overgrazing, enforcing fines of up to 5,000 dinars for violators, as well as awareness campaigns to emphasize the importance of preserving the forests and supporting eco-tourism projects. Al-Khalidi concluded by saying, 'Despite the harsh challenges, the combination of preventive, legislative, and community measures demonstrates the possibility of preserving this natural heritage,' affirming that the oak forests will remain a living testament to Jordan's environmental history. (Petra)
Asharq Al-Awsat
14-03-2025
- Business
- Asharq Al-Awsat
Positive Outlook for Saudi Stock Market Next Week
Saudi Arabia's Tadawul All Share Index (TASI) ended the second week of March with a slight decline for the third consecutive week, closing down 0.73% at 11,725.88 points, compared to the previous week's close of 11,811.11 points. In an analysis of the market performance during the week ending March 13, Dr. Suleiman Al-Humaid Al-Khalidi, a financial market analyst, told Asharq Al-Awsat that the market experienced a sharp decline not seen in years, coinciding with a drop in global markets, particularly in the US, where $2 trillion in value was wiped out in a single day. This accounted for roughly 60% of the total market value of the Saudi stock market. Al-Khalidi noted that the key player in the Saudi market is the banking sector, especially Al-Rajhi Bank's shares, which showed resilience and did not follow the downward trend. This was attributed to the strong profits reported by the banking sector in 2024. The primary factors contributing to the market's decline include global economic pressures, particularly US tariffs on most global economies, ongoing global uncertainty, and the Federal Reserve's tight monetary policies, he explained. These factors have significantly impacted liquidity flows into financial markets. Additionally, fluctuations in global oil prices, despite recent stability, have also played a role. This downturn has been accompanied by caution among sovereign wealth funds, investment institutions, and some portfolios in injecting new liquidity or altering their positions until there is more clarity in the financial markets, he went on to say. Moreover, Al-Khalidi said that the Saudi stock market has not accurately reflected the true strength and size of the Saudi economy, which has grown to SAR 4 trillion, up from SAR 600 billion in 2016, before the launch of Vision 2030. Additionally, the country's GDP has reached approximately $1.1 trillion. Looking ahead to the market's performance in the coming week, he noted that there are strong support levels at 11,550 points, followed by 11,450 points. These levels could help shift the market toward an upward trajectory and better reflect the robust growth of the Saudi economy. Al-Khalidi emphasized that the banking and energy sectors could play a leading role in driving the market higher, pushing the index beyond this week's closing levels. He also pointed out that some stocks are hitting new lows, presenting significant investment opportunities for those seeking safe havens with steady returns in the Saudi market.
Saba Yemen
27-02-2025
- Politics
- Saba Yemen
Al-Masawi inaugurates work on two electric transformers in Al-Maqashara & Al-Samaker in Al-Ta'ziyah district
Taiz - Saba: The Acting Governor of Taiz, Ahmed Al-Masawi, along with the Director of Taiz Electricity, Engineer Ghamdan Al-Khalidi, inaugurated on Thursday the work on the two transformers for Al-Maqashara and Al-Furqan neighborhoods in Al-Samaker area in Al-Ta'ziyah district with a capacity of 400 kVA, after the public electricity supply has been cut off since 2015. At the inauguration, the acting governor emphasized the keenness to provide the citizens of Al-Maqashara and Al-Furqan neighborhood in Al-Samaker area with electricity, in order to alleviate their suffering in light of the repercussions of the aggression and blockade for ten years. Al-Masawi pointed out that the directives of the revolutionary leadership and the Supreme Political Council are keen to provide necessary services to citizens, especially electricity and water, especially with the advent of the holy month of Ramadan, noting the efforts of the Electricity Corporation and its interest in expanding the scope of service. For his part, the Director of Electricity in Taiz, Engineer Al-Khalidi, confirmed the completion of the installation of transformers and the interlocking of electricity to Al-Maqashara area and Al-Furqan neighborhood in Al-Samaker. Al-Khalidi pointed to the aspirations of Taiz electricity in rehabilitating and maintaining the electrical networks and lines that were damaged by the aggression Whatsapp Telegram Email Print more of (Local)
