“A seismic shift in Europe .. the dollar is close to parity with the euro for the first time in two decades

economyU.S. dollarbreakingeuro

 2022-07-08 18:48A-AA+

Shafaq News/ The value of the US dollar has risen so much that it has become almost equal to the value of the euro for the first time in 20 years.

The Associated Press reported that the US dollar index, which measures the value of the US currency against six major foreign currencies, has jumped nearly 12 percent this year and reached its highest level in two decades. The euro is currently valued at just under $1.02.

Agency indicated; He indicated that the value of the dollar rose mainly because the Federal Reserve raised interest rates more than the central banks in other countries, in an attempt to reduce inflation rates, which reached levels unprecedented in 40 years. 

The interest rate hike caused US Treasury yields to rise, attracting investors looking for more returns than they could get anywhere else in the world. 

The agency says this increased demand for dollar-denominated securities has boosted the value of the dollar.

Also contributing to the rise in the value of the dollar, according to the chief economist at High Frequency Economics, Rubella Farooqui, is that despite concerns about a possible recession in the United States, “the US economy is in a stronger position compared to Europe.”

This year, the value of the euro has fallen largely due to growing fears that the 19 countries that use this currency will plunge into recession. 

The war in Ukraine has inflated oil and gas prices, negatively affecting European consumers and businesses alike.

In particular, Russia’s recent cut in natural gas supplies to Europe has sent prices skyrocketing and raised fears of a blackout that could force governments to ration power to factories in order to avoid the crisis’s impact on homes, schools and hospitals. 

Robin Brooks, chief economist at the International Banking Group’s Institute for Trade Finance, wrote on Twitter this week that the war in Ukraine dealt a “physical blow to Europe, undermining Germany’s growth model that relies on cheap Russian energy.”

“Europe is facing a seismic shift, which means the euro needs to fall to reflect that,” he added.

Slower European growth may eventually give the European Central Bank less time to raise interest rates and adjust economic growth to tackle its own inflation problem.

The European Central Bank announced that it will raise its key interest rate by a quarter point when it meets later this month, and possibly by as much as half a point in September. 

Analysts pointed out that there is another factor that boosted the demand for the dollar, which is its importance as a globally recognized safe haven, in light of the recent turmoil in financial markets.



Leader In The Framework: Beginning Of Next Week, The Prime Minister’s Candidate Will Be Decided


LAST UPDATE 07/08/2022 | 8:08 PM


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Information / Baghdad
The leader in the coordination framework, Turki Al-Atabi, confirmed, on Friday, that the beginning of next week will decide the name of the candidate for the next prime minister.
Al-Otbi said in an interview with Al-Information, that “the beginning of next week, the coordination framework will hold an expanded meeting for all its leaders to directly discuss the list of names presented as candidates to lead the next government, stressing that the names range from 4-5 so far.”
Al-Otabi added, “He expects to resolve this file, especially with the existence of preliminary consensus among the framework forces on the importance of choosing who will lead a government with complex tasks that will serve as a lifeline for the country from its complex crises, especially economic.”
He pointed out that “the framework is continuing to form the government, as it is the largest bloc in the House of Representatives, and this is what it deserves.”
The coordination framework is leading a political movement in order to create consensus to resolve the formation of the next government.” Ended on February 25

قيادي في الاطار : بداية الاسبوع المقبل سيحسم مرشح رئيس الحكومة

On the occasion of Eid Al-Adha .. Al-Kazemi calls for overcoming differences and devoting a spirit of affection and dialogue

politicsbreakingEid al-AdhaMustafa Al-Kazemi

 2022-07-08 14:20A-AA+

Shafaq News/ The Iraqi Prime Minister, Mustafa Al-Kazemi called on Friday to overcome political differences on the occasion of Eid Al-Adha.

Al-Kazemi wrote in a congratulatory post on his two Twitter pages (Arabic and Kurdish), “I congratulate the sons of the great people of Iraq (..) on the advent of Eid al-Adha (..) and that the spirit of affection, harmony and dialogue be enshrined everywhere.”

He added, “I take advantage of this occasion to make the most sincere call in order to overcome differences and for the interest and security of our people to be our first and last concern in order to see a close breakthrough in the current political situation for the good of the nation.”


Blackshart Confirms: Eid Al-Adha Is An Opportunity For Iraqis To Address Their Differences

07/08/2022 37 

Earth News/ Representative of the Secretary-General of the Security Council in Iraq, Jenin Plasschaert, said today, Friday, that Eid al-Adha falls this year at a sensitive stage that Iraq is going through.

In a statement received by Earth News, Blackschaert expressed her hope that “the political class will make the necessary sacrifices for the benefit of their society and country, so that all Iraqis can look unitedly to a brighter future.”

بلاسخارت تؤكد: عيد الأضحى فرصة أمام العراقيين لمعالجة خلافاتهم

The framework reassures the Sadrists: Your places and positions in the Iraqi state are reserved

politicsbreakingSadrist MovementIraqi stategovernment formationcoordinating frameworkcurrent positions

 2022-07-08 14:04A-AA+

Shafaq News/ The coordinating framework, which includes Shiite political forces, declared on Friday to preserve the positions and positions of the Sadrist movement in the Iraqi state and not to touch them in the event that the next federal government is formed in isolation from the current.

The representative of the State of Law coalition Aref, the lawyer, told Shafak News Agency, “We can say that the framework is proceeding with the formation of the government after Eid al-Adha.”

He added that “the coordination framework sees that the places and positions of the Sadrist movement are preserved in the Iraqi state and cannot be touched despite their withdrawal from the political process.”

The lawyer continued, “The last tweet of the head of the coalition, Nuri al-Maliki, is clear to the political blocs, and that the next government will not be exclusionary or marginalizing any party that contributed to the political process and participated in the elections and withdrew from it.”

It is noteworthy that the political blocs agreed in the parliament session that was held on Thursday, June 23 of this year, to proceed with the formation of the new federal government, according to the principle of “partnership, balance, and consensus”, which are the conditions announced by Kurdish leader Massoud Barzani.

This agreement came after the breakdown of the tripartite alliance between the Kurdistan Democratic Party led by Masoud Barzani, the Sovereignty Alliance headed by Khamis al-Khanjar, and the Sadrist movement led by Muqtada al-Sadr following the resignation of the Sadrist bloc’s deputies, and the current’s withdrawal from the political process by order of al-Sadr.

The Sadrist bloc had obtained the highest votes in the early legislative elections that took place in October of 2021, but the efforts of the leader of the current failed to form the new federal government due to the Shiite coordination framework standing in its way by obtaining a fatwa from the Federal Court with the so-called blocking third in a contract The session for electing the President of the Republic, which paves the way for naming the Prime Minister.

A parliamentary source had revealed last month to Shafak News Agency about the formation of the new government after the Eid al-Adha holiday, and while he indicated that it will be a “component quota” government, he confirmed the anticipation of the political blocs outside the Shiite house of the ministries of the Sadrist movement after the resignation of his deputies and their non-participation in the next government.


Nechirvan Barzani: Let this Eid be a new beginning for cooperation and partnership in Iraq and Kurdistan

politicsKurdistan RegionbreakingNechirvan BarzaniEid al-Adha

 2022-07-08 14:02A-AA+

Shafaq News/ The President of Kurdistan Region congratulated today, Friday, the people of Kurdistan and Iraq on the occasion of Eid Al-Adha. 

Barzani said in a statement received by Shafak News Agency; “On the occasion of the blessed Eid al-Adha, I extend my warm congratulations to the Muslims of Kurdistan, Iraq and the whole world, especially the families of the martyrs and the proud heroic Peshmerga. I wish everyone a safe and calm holiday and that the Eid brings happiness and security with it.”

added; “Let us take from the beautiful human message and meanings of Eid, which are liberation, forgiveness and forgiveness, an opportunity to unite ranks, achieve harmony and accept the other, and open a new page for reconciliation and reconciliation and take steps together towards a better future.”

The head of the province continued; “Let us take this occasion, in Iraq and the Kurdistan Region, as a new beginning for cooperation and partnership between all the forces, parties and components of the country, in order to solve problems, overcome difficulties, maintain safety and stability, and reach safety and reassurance.”


Saleh: Eid is an occasion to emphasize unity for the sake of a capable state that serves all citizens

  • Time: 07/08/2022 12:18:35
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Saleh: Eid is an occasion to emphasize unity for the sake of a capable state that serves all citizens

  {Political: Al Furat News} The President of the Republic, Barham Salih, congratulated on the occasion of the blessed Eid Al-Adha.

Saleh said in a tweet on Twitter: “My heartiest congratulations and blessings to our people by the blessed Eid al-Adha, recalling together the nation’s martyrs and those who sacrificed for the dignity of its children.”

He added, “It is an occasion to emphasize unity for the sake of a capable state, a caretaker and servant of all citizens, that takes its pivotal role and serves as a meeting place for the countries and peoples of the region for peace and prosperity.”