Latest news with #USDollars
Iraqi News
8 hours ago
- Business
- Iraqi News
Rafidain Bank settles 87% of Iraq's external debt, boosting sovereign rating
Baghdad ( – Rafidain Bank announced today, Wednesday (July 30, 2025), a significant achievement in managing Iraq's external debt, completing 87% of its foreign indebtedness file. This progress highlights effective institutional coordination between the government, the Ministry of Finance, and Rafidain Bank. In a statement received by the Iraqi News Agency (INA), the bank revealed substantial headway in settling international obligations through high-level financial and legal negotiations, resulting in a tangible reduction in the volume of external debt. The statement emphasized Iraq's commitment to the Paris Club Agreement. With direct approval from the Council of Ministers, Rafidain Bank finalized major negotiated settlements with Dutch and French creditor companies. A key highlight was Council of Ministers Resolution No. 403 of 2025, which settled three lawsuits filed by Dutch companies with a concession rate exceeding 90% in favor of the bank. Furthermore, Rafidain Bank has achieved notable legal successes abroad, particularly winning lawsuits in Turkey and Lebanon, which enabled it to recover over $2.8 million US Dollars. This reflects the efficiency of the bank's legal department and its capability to defend the state's rights before international courts. The bank affirmed its ongoing efforts to conclude the remaining aspects of the file through final settlements. This comprehensive approach is expected to enhance Iraq's sovereign rating and solidify international confidence in its financial stability and commitment to sound financial governance.
Hindustan Times
2 days ago
- Business
- Hindustan Times
Buy a house in the Caribbean islands, and earn a passport: Here's what you need to know about it
Indian homebuyers planning to settle abroad can now explore the Eastern Caribbean. According to a BBC news report, the authorities are offering citizenship by investment (CBI) schemes, where a property purchase worth at least US Dollars (USD) 200,000 ( ₹1.73 crore approximately) can secure a passport. Real estate trends: Buying a home in the island nation will also get investors a passport that grants the holder visa-free access to up to 150 countries, including Europe's Schengen area, and for all but Dominica, along with the United Kingdom (UK), according to a BBC news report. (Picture for representational purposes only)(Pexels) The news report said that five of the region's island nations – Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia – offer such citizenship by investment (CBI) from as little as USD 200,000. The report said that buying a home in the island nation will also get investors a passport that grants the holder visa-free access to up to 150 countries, including Europe's Schengen area, and for all but Dominica, along with the United Kingdom (UK). For the wealthy, the islands' absence of taxes on capital gains and inheritance, and in some cases on income, is another major draw. All five of the region's schemes allow buyers to retain their existing citizenship. For wealthy individuals, these island jurisdictions offer compelling fiscal advantages: no capital gains tax, no inheritance or estate tax, and in several cases—no personal income tax as well, the news report said. Also Read: 5 things NRIs should keep in mind before investing in property in India According to the news report, real estate consultants are not able to handle the demand post-announcement. Nadia Dyson, owner of Luxury Locations, says estate agents in Antigua are struggling to keep up with demand. "Up to 70% of all buyers right now want citizenship, and the vast majority are from the US," Dyson told the BBC. Despite Antigua's programme having no residency requirement, some purchasers are looking to relocate full-time, Dyson said. Majority of investors from the US According to the BBC news report, US citizens account for the bulk of CBI applications in the Caribbean over the past year. Also Read: Over 2 lakh Indians gave up citizenship in 2024, reveals government data Ukraine, Turkey, Nigeria, and China are among the other countries from which applicants applied for CBI. The overall applications for Caribbean CBI programmes have increased by 12% since the fourth quarter of 2024, the report said. What to keep in mind while investing overseas? An Indian citizen's investment in real estate overseas, including Caribbean nations, is governed by two key regulations: the Foreign Exchange Management Act, 1999, and the Income Tax Act, 1961. Also Read: Looking to buy real estate in Dubai? Here's all that you should know As per FEMA regulations, a resident individual can remit up to USD 2,50,000 (about ₹2.1 crore) per financial year under the Liberalised Remittance Scheme for the purchase of immovable property. The limit is for an individual; therefore, a family looking to buy a bigger property can remit the funds in larger amounts by utilising their combined individual limits.
Indian Express
4 days ago
- Business
- Indian Express
Trade deal brings some cheer to Surat's gems and jewellery sector; many plan on exploring opportunities in the UK
The Free Trade Agreement (FTA) between India and the United Kingdom, signed on Thursday, has come as a shot in the arm for Surat's gems and jewellery industry, which has been reeling under a slump triggered by the Russia-Ukraine conflict since 2022. Though the scale of export to the UK in the sector is not as high as it is in the case of the United States, industry stakeholders in Surat said the FTA has brought some cheer to those involved in gems and jewellery trade in the city. Some industry leaders said the FTA has prompted them to explore trade options with the UK. Last year, gems and jewellery worth 9,236.46 million US Dollars were exported to the US – the highest among other countries. The exports to the UK stood at 941 million USD. 'Now with the duty concessions, this figure is poised to surge to USD 2.5 billion in the next three years, elevating overall bilateral trade in the gems and jewellery sector to an estimated USD 7 billion,' according to a statement from Kirit Bhansali, Chairman of Gems & Jewellery Export Promotion Council (GJEPC). Following the conflict with Ukraine, sanctions were imposed on Alrosa, the Russia-based diamond mining giant, which directly impacted livelihoods in Surat – a major centre for polishing diamonds in the world. Talking to The Indian Express from the UK, Bhansali said, 'Three years ago, India did an FTA with the UAE, and we have seen immense growth in the business between both countries with an annual growth rate of 12% to 14%. In the last three years, the total growth rate has been around 30%. Similarly, we are hoping that FTA with the UK will also boost the gems and jewellery sector in the coming years.' Sources said that in terms of exports from India to the UK, the highest value is of studded gold jewellery, closely followed by polished natural diamonds, and then lab grown diamond (LGDs). The UK ranks fifth in the value of exports in this sector while the US brings in the maximum business. Vallabhbhai Lakhani of Kiran Gems, a natural diamonds manufacturer and promoter, said, 'India's gems and jewellery business with the UK is not huge so the scale of impact of the FTA is difficult to guess. But something is better than nothing. The US is a major consumer of gems and jewellery. As of now, we have no presence in the UK but will explore an opportunity in the coming days.' Nagjibhai Sakariya, promoter of HVK diamonds, too, said the company is hoping to explore business opportunities in the UK following the FTA. 'We are doing business of diamond-studded jewellery worldwide, but due to lower demand from the UK, we haven't touched that market so far,' he said. 'A major consumer is the US market, and we have come to know that India and the US will be coming up with a trade agreement next month. A decision on such an agreement will impact the gems and jewellery industry,' he added. According to figures from GJEPC , the gross exports of gems and jewellery stood at USD 28.67 billion in the financial year 2024-2025. This marks an 11.2% decline from USD 32.29 billion recorded in 2023 -2024. Industry players blamed this dip in exports to the introduction of a 26% tariff on India under the US Fair and Reciprocal Tariff Plan. The other reasons that they cited were weak global demand and uncertainty in major markets, particularly the US, China and Europe. Many suppliers also held excess inventory from previous quarters due to slower offtakes, which limited the placement of new orders. The retailers worldwide adopted a wait-and-watch approach due to price volatility and geopolitical uncertainty, they said. Talking to The Indian Express, Vipul Shah, Managing Director of Asian Star Company, a natural diamonds dealer, said, 'The FTA between India and the UK will be a win-win situation for both countries. We began doing business with the Middle East three years ago, following the establishment of the FTA. We have received a good response, as we have gained new customers and our business has prospered. Now with FTA with the UK, we are also planning to move into the UK market and look for business opportunities. We will send a team to the UK next week to seek new customers.' Smit Patel, director of Green Lab Diamonds, which makes lab-grown diamonds, said, 'We have been doing business of loose lab-grown diamonds with the UK for the last few years. Now that the FTA has come into existence, we will also expand into the jewellery business, which we are currently operating with the Middle East, the US, Hong Kong, and other countries. Earlier, due to the impact of import duty in the UK, we would send fewer quantities of diamonds. Now, we will take full advantage of the zero duty and reach out to customers in the UK.'
Morocco World
5 days ago
- Business
- Morocco World
XRP and Bitcoin: A 2025 Perspective with the Power of Hashj
XRP and Bitcoin still make waves and fill columns in the ever-changing high-tech financial world. Although these two cryptocurrencies may differ in their structure and mission, they still have one thing in common: they exist to change the way in which we store and transfer value internationally. Both have been impressive as to their resilience, innovation, and increased adoption as of 2025. This article explores the special position of XRP and Bitcoin in the current market, their advantages, current performance, and the role of the Hashj platform, which makes investing in cryptocurrencies easier than ever before. If you have never been exposed to cloud mining, you can click to register and receive $118 (100 USD trial bonus + 18 USD cash) to experience mining. What is XRP and what is Bitcoin? Bitcoin (BTC) The Digital Gold It was created in 2009 by an anonymous man or woman named Satoshi Nakamoto and it is the first cryptocurrency. It caused the appearance of an alternative financial system, decentralized, built on peer-to-peer relationships, without banks or intermediaries, in which participants could send money anywhere in the world. The important details regarding Bitcoin: Objects: means of storing value and means of the exchange. Supply: 21 million BTC only. The security: PoW blockchain (mining-based). July 2025 Current value: ~US Dollars 117,500 per BTC. Market Value: More than 1.25 trillion dollars. The low supply of Bitcoin makes it attractive to buy on the long-term. As more countries and interest groups accept and institutional investors take an interest in it, it has come to be nicknamed, digital gold. XRP: Fast Payments of the Future XRP is an indigenous cryptocurrency of the Ripple network designed to enable its global transactions that are fast and low cost. Gone is the need to mine in XRP as it operates on a consensus mechanism between registered participants, which is much more energy-efficient and faster than Bitcoin mining. Important information on XRP: Objective: Cross border liquidity and cross border payments. Sale: 100 billion XRP(No Mining). Speed: The settlement of transactions is 3-5 seconds. Today Date (July 2025): ~$3.0 for 1 XRP = 1 USD in value. Market cap: ~ $48 billion. As more financial institutions and payment providers use it, XRP would remain crucial in bank transfer and remittances across the globe. The Reason Why XRP and Bitcoin are Becoming Popular in 2025 The year 2025 sparked renewed interest and confidence in the crypto market. And several factors are fueling this interest: Regulatory Clarity: Governments of various countries have now managed to clarify the legal status of digital currencies which has led to more adoption by institutions. Ease of use: cryptocurrency mining and investing can be done without being a technological genius through sites such as Hashj. Global Inflation: With the debilitation of the fiat currency, an increased number of people are beginning to resort to Bitcoin and XRP to store and increase their wealth. Speed Factor and Cost-Effectiveness: Lightning-fast transaction time of XRP and the dependability of Bitcoin keep many businesses and users interested in it. Why Hashj Is Your Ultimate XRP and Bitcoin Mining Partner Whether you're just learning how to mine xrp, bitcoin or optimizing a large-scale setup, Hashj is your trusted crypto companion. We offer: Register to receive your immediate $118 reward (a $100 experience bonus plus an $18 cash bonus). Choose the $100 experience bonus plan to receive USD. Passive Profit – The profit will automatically get charged into your account when the contact expires. The Way to Make Profit with Hashj Be it the long term development of Bitcoin or the support of XRP, the platform provides an easily accessible method into the world of cryptocurrency with hashj . On Hashj, Free Activities and Rewards are available. At the very first, users may enjoy free crypto activities on Hashj. They enable registered participants to gain some crypto income valued at low cost in money such as XRP, Bitcoin, etc, without requiring any investments to be made. It is a perfect business for newcomers who want to scan the waters of mining and passive income. The Headache Free Cloud Mining Hashj allows consumers to mine Bitcoins without possessing or operating costly gear. Their cloud mining solution is safe, fast, and environmentally friendly. There is no centralization yet, and so the users will have access to profits of the mining in real-time. Various Mining Alternatives Hashj is supporting mining of different cryptocurrencies which may be: Bitcoin (BTC) Ethereum (ETH) Litecoin (LTC) XRP ( gathering rewards, trading) This fluidity enables users to disperse their crypto portfolio according to the market patterns. User-Centric Dashboard The platform offers simple-to-read income parades, live mining information and clear daily yield, which makes it less difficult for anybody to earn crypto, fully equipped with the tech learning curve. Looking into the future Prospects of XRP and Bitcoin We are now eyeing the future of this year of 2025 and so on, but both Bitcoin and XRP have some potential value: The Halving in Bitcoin in 2024 already increased the supply makers, as prices have risen. There are forecasts that the Bitcoin might go as high as 100,000-120,000 by the year. The growing use of XRP by banks and other fintech services still makes it one of the dominant payment tokens. The legal issue that has been plaguing XRP in most countries has now been cleared thus, it is now possible that XRP will soon surpass the $3.50 mark. Meaning: You should Start Your Crypto Journey Using XRP, Bitcoin, and Hashj The XRP and Bitcoin show two potent, though different, directions in the realm of cryptocurrencies. Whether you are attracted to Bitcoin because of its large user base or to XRP because of its fast processing speed and scalability, neither can be overlooked in a contemporary crypto economy. As evidenced by tools such as Hashj that simplify the process of earning, mining, and increasing your digital assets, there has never been a better time to join. Register now, and check out a variety of free mining tasks and find out how XRP and Bitcoin may begin to work on your financial future! Official website: Download APP: iOS and Android version Tags: BitcoinBitcoin in Islam
India.com
7 days ago
- Business
- India.com
This country has world's most expensive currency, not Dollar, Euro, Pound, Dirham, country is..., currency is...
Currencies- File image Most expensive currency: Many of you might think that because the United States of America is the largest economy in the world, its currency US Dollars must be the most valuable currency. However, let us tell you the fact that the world's most valuable currencies are not always from the largest economies like US, China or France. However, they often come from smaller, resource-rich nations with strong fiscal policies and controlled exchange rate systems. Here are all the details you need to know about the most valuable currency in the world and how does the Indian currency stand against it. Which is the most expensive currency in the world? Talking about the most expensive currency in the world, the Kuwaiti Dinar (KWD) remains the most expensive currency, valued at around Rs 283 per unit as of July 2025. The currency of Kuwait is closely followed by the Bahraini Dinar (Rs 229), Omani Rial (Rs 224), and Jordanian Dinar (Rs 122). Also, among European currencies, the British Pound and Gibraltar Pound both trade around Rs 117–Rs 118, while the Cayman Islands Dollar and Swiss Franc are close to Rs 103. How is Indian Rupee currently trading? In a significant update for the Indian currency, the rupee appreciated 17 paise to 86.24 against the US dollar in early trade on Thursday, tracking the weakness of the American currency in the overseas market. As per a report carried by PTI news agency, Forex traders have said uncertainty over the India-US trade deal has been a huge overhang for the forex market, leaving the rupee trading in a tight range. The PTI report also said that a negative trend in domestic equities and foreign fund outflows dented investors' sentiments and restricted the upmove of the local unit. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.06 per cent to 97.15, as investors watched out for a trade deal ahead of the August 1 deadline. (With inputs from agencies)
