Iraq Financial News

Iran's supreme leader on Sunday dismissed any discussion of whether Tehran's unprecedented drone-and-missile attack on Israel hit anything there, a tacit acknowledgment that despite launching a massive assault, few projectiles actually made through to their targets. Ayatollah Ali Khamenei's comments before senior military leaders didn't not touch on the apparent Israeli retaliatory strike Friday on the central city of Isfahan, even though air defenses opened fire and Iran grounded commercial flights across much of the country. Analysts believe both Iran and Israel, regional archrivals locked in a shadow war for years, are trying to dial back tensions following a series of escalatory attacks between them as Israel's war on Hamas in the Gaza Strip rages on and inflames the wider region.

basmati exports to the EU have consistently risen over the past three years. According to data from the Directorate General of Commercial Intelligence and Statistics (DGCIS), in FY23, India exported 152,857 metric tonnes (MT) of Basmati valued at $167 million, up significantly from 88,452 MT worth about $93.4 million. Between 1 April 2023 and 31 January 2024, India exported 130,122 MT ($168 million) of Basmati to the EU, indicating robust demand for Indian basmati in the EU market.

Strait of Hormuz is a narrow marine corridor situated between Oman and Iran and spans approximately 40 km at its most constricted section, providing 2 km of navigable waterways for vessels entering and exiting. India imports 85% of its crude oil requirements from Saudi Arabia, Iraq, and the UAE and LNG from Qatar.

security force that includes Iran-backed groups. The force commander said it was an attack while the army said it was investigating and there were no warplanes in the sky at the time. Two security sources had said earlier that an airstrike caused the blast, which killed a member of Iraq's Popular Mobilization Forces (PMF) and wounded eight others at Kalso military base about 50 km (30 miles) south of Baghdad. In a statement, the PMF said its chief of staff Abdul Aziz al-Mohammedawi had visited the location and «reviewed the details of the investigative committees present in the place that was attacked».

Baghdad: Iraqi authorities said Saturday that they were investigating an explosion that struck a base belonging to the Popular Mobilization Forces, a coalition of Iran-allied militias, killing one person and injuring eight. Militia officials had initially described the explosion at the Kalsu military base north of Babylon — a former US base that was handed over to the Iraqi military in 2011 — as an airstrike, blaming it on US forces. The US Central Command denied in a statement that it had carried out any airstrikes in Iraq.

Gold rate today: Amid rising geo-political tension in the Middle East region on the rising fears of the Iran-Israel war, gold prices continue to scale high for the sixth week in a row. Interestingly, gold and silver prices have risen on the safe-haven demand despite rising US dollar rates. As gold and silver rates today are surging, the US dollar index is also scaling northward.

A civilian interrogator who worked 20 years ago at the infamous Abu Ghraib prison in Iraq told jurors in Virginia that he never abused detainees and was actually promoted for doing a good job

Iran activated 's air defenses across multiple locations after loud explosions were heard near an airport and military base in the city of Isfahan, according to Iranian state media reports. The blasts come just days after Iran allegedly launched over 300 drones and missiles at targets in Israel last Saturday, prompting the Israeli military to launch a bombing campaign against Gaza.

delayed by more than 15 years of legal wrangling, is the first time that Abu Ghraib detainees have been able to bring their abuse claims in front of a U.S. jury.

An Army general who investigated the abuse of prisoners 20 years ago at Iraq’s infamous Abu Ghraib prison has testified that a civilian contractor instructed prison guards to “soften up” detainees for interrogations

A civilian contractor sent to work as an interrogator at Iraq’s infamous Abu Ghraib prison resigned within two weeks of his arrival and told his corporate bosses that mistreatment of detainees was likely to continue

Recent Bitcoin price predictions become a focal point as the cryptocurrency maintains its position at $63,900, with a modest uptick of 0.15%.

Iran temporarily closed its nuclear facilities over «security considerations» in the wake of its massive missile and drone attack on Israel over the weekend, the head of the UN's atomic watchdog said Monday. Speaking to journalists on the sidelines of a UN Security Council meeting, International Atomic Energy Agency (IAEA) chief Rafael Grossi was asked whether he was concerned about the possibility of an Israeli strike on an Iranian nuclear facility in retaliation for the attack. «We are always concerned about this possibility. What I can tell you is that our inspectors in Iran were informed by the Iranian government that yesterday (Sunday), all the nuclear facilities that we are inspecting every day would remain closed on security considerations,» he said.

President Biden’s cardinal objective since the outset of the Gaza conflict in October has been to prevent a wider war in the Middle East. On Saturday, he got the escalation he sought to avoid. Iran fired more than 300 drones and missiles, marking the first time that Tehran has directly attacked Israel.

missiles attack before 72 hours of its launch, said Turkish, Jordanian and Iraqi officials said on Sunday. “Iran gave neighboring countries and Israel's ally the United States 72 hours' notice it would launch the strikes," said Iranian foreign minister Hossein Amirabdollahian as quoted by Reuters. However, a senior official in the Biden administration stated that Tehran did not warn about the attack and that it was aiming to cause a significant damage.

Mint looks at the implications for the rest of the world, including India. In a departure from its long-term policy, Iran attacked Israel directly late on Saturday taking tensions in the region to a new high. The attack was in response to the bombing of Iran’s Consulate in Damascus on 1 April, ostensibly by Israel, that killed senior Iranian military commanders.

NEW DELHI, MUMBAI : The ongoing conflict between Iran and Israel could disrupt the aviation and shipping industries, sparking concerns over air travel safety and maritime security worldwide, besides a potential rise in airfares, increased war-risk premium for vessels operating in the area, as well as risks to agriculture trade. Following Iran's recent attack on Israel with drones and missiles, several countries in the region, including Iran, Jordan, Iraq, Lebanon, and Israel, temporarily closed their airspaces on 12 April as a precautionary measure, before reopening on 14 April, albeit with restrictions.

NEW DELHI : As conflict between Israel and Iran heats up, India is among the countries most affected. India has deep equities in the region: a large diaspora, strong economic partners, and a growing strategy role. But the prospect of a large-scale conflict hurts that.

The White House says it will provide unspecified support for Israel’s defense against an ongoing airborne attack from Iran.

Iran launched drones into Israel in retaliation to the air strike on its embassy in Syria, the UK moved several additional Royal Air Force jets and air refuelling tankers to the region, the country's Ministry of Defence said in a statement on Sunday. It said the deployed jets will intercept airborne attacks within range of the UK's existing mission. «In response to increased Iranian threats and the growing risk of escalation in the Middle East, the UK Government has been working with partners across the region to encourage de-escalation and prevent further attacks,» the statement read.

ballistic missiles poses the latest challenge to Israel's air defense system, which already has been working overtime to cope with incoming rocket, drone and missile attacks throughout the six-month war against Hamas. Here's a closer look at Israel's multilayered air-defense system: The Arrow: This system developed with the U.S. is designed to intercept long-range missiles, including the types of ballistic missiles Iran said it launched on Saturday. The Arrow, which operates outside the atmosphere, has been used in the current war to intercept long-range missiles launched by Houthi militants in Yemen.