Category: Michael Novakhov – SharedNewsLinks℠

Shafaq News/ The sirens were activated inside the US Embassy in Baghdad.

This story will be updated with further details…

Shafaq News/ The Iraqi Central Bank’s (CBI) dollar sales rose, on Wednesday, reaching over $260 million during its currency auction, an increase from the previous day’s figures.

According to an official statement by the bank, CBI sold a total of $260,421,412 at a base exchange rate of 1,310 IQD per dollar for documentary credits and international settlements for electronic cards, with the same rate for foreign transfers. The cash sale rate was 1,305 IQD per dollar.

Most of the sales, around $247.8 million, were for strengthening foreign balances through transfers and credits, representing 95% of the total sales. Only $12.6 million were sold in cash.

Notably, only two banks purchased cash dollars, while 14 banks fulfilled requests for foreign balance transfers, and seven exchange companies participated in the auction.

Shafaq Shafaq/ A new group of ISIS families from Syria’s Al-Hol camp is set to be transferred to Iraq’s Mosul within the coming weeks, a government source in Nineveh governorate confirmed, on Wednesday.

The source told Shafaq News Agency that between 150 to 180 families are expected to be moved to Al-Jadaa camp, south of Mosul, following coordination with Iraqi security forces and security screenings.

“Hundreds of families remain in the Syrian camp awaiting return to Iraq,” the source added, noting that over 20,000 Iraqis are still residing in Al-Hol.

The Kurdish-run al-Hol camp in northeast Syria was home to more than 50,000 people, including family members of suspected ISIS militants, as well as displaced Syrians and Iraqi refugees, before repatriation efforts began in 2021. It is the largest camp for displaced people who fled after ISIS was dislodged from its last stronghold in Syria in 2019 and remains one of the biggest unresolved humanitarian issues in the region.

More than 43,000 Syrians, Iraqis, and foreigners from at least 45 countries remain in the squalid and overcrowded camp, according to official tallies. Iraqis are the largest nationality among them, followed by Syrians.

For years, Iraqi authorities have pushed for the closure of al-Hol, which is located close to the Iraqi border, citing security concerns. The UN has also been calling on governments to repatriate more of their citizens.

Iraq’s National Security Adviser Qasem al-Araji has been leading the government’s efforts to repatriate Iraqis, pushing foreign governments to do the same and urging rapid dismantlement of the camp.

Since May 2021, hundreds of Iraqi families have been repatriated.

Between then and March this year, more than 1,920 Iraqi families have been transferred so far to Al-Jadaa camp, al-Araji said in March. “The figure includes 1,230 families who had been allowed to return home,” he said.

Repatriation of family members of suspected ISIS members has stirred controversy in Iraq, where the extremist group had seized large swathes of land before being defeated in late 2017. The group committed atrocities in Mosul and other areas of northern Iraq it controlled, including the targeting of minority groups such as the Yazidis.

Some Iraqis have resisted the repatriation efforts, saying they do not want ISIS families among them. Despite the criticism, the Iraqi government regularly repatriates its citizens from al-Hol, a policy commended by the UN and US.

Shafaq News/ The Israeli military confirmed on Wednesday that several air bases were damaged in Tuesday’s Iranian missile attack.

“Several air bases were impacted, but there was no significant damage to the infrastructure,” the military stated, adding, “Contrary to Iranian claims, no hypersonic missiles were launched.”

As Israel typically remains silent about the extent of its losses, military spokesman Daniel Hagari urged citizens not to share or publish any documentation or photos of the missile strike sites and targets.

Earlier, the IRGC noted that the missile strikes were in retaliation for the assassination of Hamas leader Ismail Haniyeh in Tehran at the end of June, as well as for Hezbollah’s Secretary-General Hassan Nasrallah and Abbas Nilforushan, the operations commander of the IRGC, in airstrikes on Beirut’s southern suburbs last Friday, affirming that its “retaliatory operation against the Israeli regime, dubbed Operation True Promise II, was more than 90% successful.”

In response, Israeli officials have vowed to retaliate strongly. The Israeli Forces emphasized that the Iranian attack “will have consequences” and that military leadership in Israel has contingency plans in place.

Shafaq News/Gold prices eased on Wednesday as the dollar held firm, while investors looked for more U.S. economic data for further cues on upcoming rate cuts by the Federal Reserve.

Spot gold was down 0.5% at $2,649.17 per ounce, as of 0648 GMT.

U.S. gold futures eased 0.7% to $2,670.30.

The dollarheld onto its sharpest gain in a week on Wednesday as investors worried about a widening war in the Middle East.

A stronger dollar makes greenback-priced bullion more expensive for other currency holders.

Trading volumes for gold were thin as China and India were closed for holidays.

Market participants will now monitor ADP employment data and remarks from Fed officials later in the day, along with ISM services data and nonfarm payrolls (NFP), due later this week.

There’s a reasonable chance that both ISM and NFP reports could surprise to the upside, which could topple gold from current levels on reduced bets of aggressive Fed easing, said Matt Simpson, senior analyst at City Index.

Traders see a 65% chance of a 25-basis-point Fed cut in November and a 35% chance of a 50-bp cut.

“Unless tensions in the Middle East escalate further, I suspect gold will remain beneath its record high and provide choppy trading conditions as we await data,” said Simpson.

Bullion, which is considered a safe investment during times of political uncertainty, rose more than 1% on Tuesday after Iran’s attack on Israel.

Israeli Prime Minister Benjamin Netanyahu promised that arch foe Iran would pay for its missile attack against Israel, while Tehran said any retaliation would be met with “vast destruction”, prompting fears of a wider war.

Meanwhile, physical demand for gold in key markets has dropped due to high prices, with some retail consumers selling their holdings to lock in profits, industry players and analysts said.

Spot silver shed 0.8% to $31.17 per ounce, platinum was steady at $986.43 and palladium rose 0.5% to $999.94.

(REUTERS)

Shafaq News/ On Wednesday, the exchange rates оf the US Dollar against the Iraqi dinar edged higher in Baghdad and Erbil markets.

According to a survey by Shafaq News Agency, the dollar’s rates increased with the opening оf the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad, settling at 152,300 dinars for every 100 dollars, while they recorded 151,850 dinars on Tuesday.

The selling and buying rates at currency exchange stores in Baghdad were set at 153,250 IQD and 151,250 IQD per 100 USD, respectively.

Erbil’s selling price reached 152,350 dinars for every 100 dollars, and the buying price was 152,250.

Shafaq News/ Danish police announced, on Wednesday, that they are investigating two explosions near the Israeli embassy in Copenhagen.

Copenhagen police stated on X, “No one was injured, and we are conducting preliminary investigations at the scene.” They added that there is an ongoing investigation into a potential connection to the Israeli embassy, which is located in the area.

The Israeli Embassy did not comment on the incident.

Shafaq News/ On Wednesday, Basrah crude oil prices edged lower as global oil prices jumped.

Basrah Heavy crude increased by $1.36 to $67.21 per barrel, and Basrah Medium crude by $1.36, reaching $70.21 per barrel.

Brent futures leaped $1, or 1.36%, to $74.56 a barrel, while U.S. West Texas Intermediate (WTI) crude spiked $1.07, or 1.53%, to $70.9 at 0330 GMT, according to Reuters.

Shafaq News/ Oil prices jumped by over a dollar on Wednesday due to rising concerns Middle East tensions could escalate, potentially disrupting crude output from the region, following Iran’s biggest ever military blow against Israel.

Brent futures leapt $1, or 1.36%, to $74.56 a barrel, while U.S. West Texas Intermediate (WTI) crude spiked $1.07, or 1.53%, to $70.9 at 0330 GMT.

During trading on Tuesday, both crude benchmarks surged more than 5%.

Oil markets were largely focusing on the narrative of a weakening global economic outlook denting demand for fuel, said Priyanka Sachdeva, senior market analyst at Phillip Nova.

“Still, the scale quickly turned towards fears of oil supply disruptions in the Middle East after Iran fired ballistic missiles at Israel,” Sachdeva said.

Iran said early on Wednesday that its missile attack on Israel was over barring further provocation, while Israel and the U.S. promised to retaliate against Tehran as fears of a wider war intensified.

Tehran said any Israeli response to the attack, which Israel said involved more than 180 ballistic missiles, would be met with “vast destruction”.

The United Nations Security Council scheduled a meeting about the Middle East for Wednesday, and the European Union called for an immediate ceasefire.

The direct involvement of Iran, an OPEC member, raises the prospect of disruptions to oil supplies, ANZ analysts said in a note, adding that the country’s oil output rose to a six-year high of 3.7 million barrels per day in August.

Spain’s energy crisis has seen both gas and electricity prices soar,

“A major escalation by Iran risks bringing the U.S. into the war,” Capital Economics said in a note. “Iran accounts for about 4% of global oil output, but an important consideration will be whether Saudi Arabia increases production if Iranian supplies were disrupted.”

A panel of ministers from the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, meets later on Wednesday to review the market, with no policy changes expected. From December, OPEC+, which includes Russia, is set to raise output by 180,000 barrels per day (bpd) monthly.

“Any suggestion that production hikes will proceed could offset concerns of supply disruptions in the Middle East,” ANZ’s note said.

U.S. stockpile data was mixed: crude oil and distillate inventories fell last week while gasoline inventories rose, market sources said, citing American Petroleum Institute figures on Tuesday.

Oil investors will also be closely watching Friday’s U.S. jobless claims data as it is expected to influence projections of the Federal Reserve’s monetary easing, which may aid long-term oil demand by stimulating overall economic activity, Phillip Nova’s Sachdeva said.

(Reuters)