Latest news with #ShafaqNews
Shafaq News
2 hours ago
- Politics
- Shafaq News
'Hot summer' for Israel: Houthis vow more attacks after Sanaa raid
Shafaq News/ On Wednesday, Yemen's Houthi movement (Ansarallah) warned of a 'hot summer' for Israel following an airstrike on Sanaa International Airport. Houthi political leader Mahdi al-Mashat, who visited the site after the strike, pledged intensified retaliation and reaffirmed support for Palestinians in Gaza. 'We will not retreat or surrender.' Mashat also warned Israeli Prime Minister Benjamin Netanyahu that Yemeni missiles would bypass Israeli air defenses. 'Our missiles will reach their targets. Shelters will not protect you,' he asserted, adding that commercial flights to and from Ben Gurion Airport could also be at risk. The airstrike marked Israel's tenth on Yemen since the outbreak of the Gaza war, with previous raids targeting cement plants, energy infrastructure, and ports. However, Israeli media have reported growing domestic criticism over the raids' limited deterrent effect.
Shafaq News
2 hours ago
- Business
- Shafaq News
Iraq's exports $2.7B in oil to Italy in 2024
Shafaq News/ Iraq delivered $2.68B in oil shipments to Italy in 2024, maintaining its role as a key energy supplier to the European market, official trade data showed. The exports included 4.32 million tonnes of crude oil worth $2.44B, in addition to 435,532 tonnes of petroleum-based derivatives, which generated $242.57M. The total reflected a modest 1% growth in value compared to 2020, indicating consistent trade volumes over the past five years. Italy imports Iraqi oil through long-term agreements with energy firms such as Eni and Saras, which refine the crude in southern Europe, the country being one of Iraq's top European clients, alongside rising demand from other EU nations seeking to diversify supply amid geopolitical shifts. Iraq, a founding member of OPEC, continues to depend on oil for over 90% of its government revenue. Despite production cuts under the OPEC+ agreement, Baghdad's fuel oil exports are projected to reach record highs in 2024, with total oil shipments surpassing 1.2 billion barrels globally.
Shafaq News
2 hours ago
- Business
- Shafaq News
Iraq's top advisor to speculators: We're not in financial trouble
Shafaq News/ On Wednesday, Iraqi Prime Minister Mohammed Shia Al-Sudani's Financial Advisor, Mudher Muhammad Saleh, dismissed speculation of a looming financial crisis in Iraq, crediting the country's economic stability to 'prudent fiscal policy.' Saleh told Shafaq News that Iraq relies on oil revenues to finance about 90% of public expenditures, while government spending constitutes roughly 50% of GDP, noting, 'This spending drives around 85% of total demand in the economy.' He cautioned that Iraq must remain vigilant amid global trade tensions and energy market disruptions, noting that oil prices seem to be entering a new downturn. This, he said, has led to closer coordination between the country's fiscal and monetary authorities. 'Iraq has weathered similar oil cycles since 2014 and succeeded in preserving economic stability,' he added. The economic expert further pointed out that the government is enforcing stricter fiscal discipline on revenues and expenditures, coordinating with the central bank to cover deficits without disrupting essential outlays. Ensuring sufficient liquidity to meet national needs remains a top priority. Earlier, the Parliamentary Finance Committee warned of a potential future crisis amid falling oil prices and inadequate safeguards to cushion Iraq's economy. Economic experts blamed the Ministry of Finance and the Central Bank for weak monetary circulation and declining public trust in the banking sector. Official data showed that Iraq's money supply has reached around 127 trillion dinars (96.52 billion USD), with 70% of it held outside the banking system. Additionally, oil revenues reportedly dropped by 15% in April, compounding pressure on strategic reserves.
Shafaq News
3 hours ago
- Politics
- Shafaq News
Seeking justice: Baghdad Symposium addresses Feyli rights
Shafaq News/ On Wednesday, Iraqi officials, legal experts, and human rights advocates gathered in Baghdad for a symposium focused on restoring the rights of Feyli Kurds. The event was organized by the Ministry of Culture's Feyli Cultural Center in cooperation with the Iraqi High Commission for Human Rights. Discussions centered on legal accountability, citizenship restoration, property claims, and the unresolved issue of mass graves containing the remains of thousands of missing Feyli Kurds. Quais Hussein Ghayeb, director of the Commission's Minorities and Social Peace Division, said the Commission is prioritizing three key demands: reinstating citizenship for those stripped of it, compensating for seized assets, and locating and identifying mass grave sites. 'These issues are being followed up with relevant state institutions,' Ghayeb stated, noting ongoing complaints from Feyli citizens facing bureaucratic delays in recovering their nationality. He added that Baghdad's provincial council is actively supporting the citizenship file, and that the Council of Ministers has issued related recommendations. Ghayeb also highlighted legal and logistical challenges in investigating mass graves, citing current laws that restrict excavation to specific government entities. 'There is a legislative effort underway to resolve the contradiction between legal provisions and investigative needs." Feyli researcher Fereydoun Karim called the mass grave issue deeply complicated, alleging that some parties have obstructed efforts to uncover the fate of the disappeared. "Despite raising the matter with international actors, including the United Nations, there has been little tangible progress." Meanwhile, Lamia Adnan al-Mandlawi, institutional development official at Iraq's Scientific Complex, emphasized the importance of sustained follow-up. 'The symposium brought legal clarity to the Feyli Kurds' demands and reinforced the need for implementation on citizenship, property rights, and mass grave investigations,' she told Shafaq News.
Shafaq News
3 hours ago
- Politics
- Shafaq News
Israel claims killing top Hamas Commander Mohammad al-Sinwar
Shafaq News/ Israeli Prime Minister Benjamin Netanyahu confirmed, on Wednesday, the death of Mohammad al-Sinwar, a senior Hamas commander and brother of political leader Yahya al-Sinwar, calling it a 'major blow' to Hamas's leadership. Speaking before the Knesset, Netanyahu said al-Sinwar was killed in a recent airstrike targeting a hospital in southern Gaza, describing the moment as 'a dramatic turn towards the complete defeat of Hamas.' Hamas has not commented. Netanyahu also claimed that Israeli forces have eliminated several senior Hamas leaders over the past 20 months, including Yahya al-Sinwar, architect of the October 2023 attacks. Since then, over 54,000 Palestinians have been killed and more than 123,000 injured, according to Gaza health officials. Israel now controls food distribution in Gaza through a US-backed system, part of efforts to consolidate operational control in the territory, he added.
