ERBIL May 30, 2016 – A new World Bank Group report proposes a series of reforms to enable Iraq’s Kurdistan Region to chart a path out of the difficult economic challenges it faces toward a more sustainable and diversified economic future. The combination of factors that have recently placed more pressure on the Kurdistan Region of Iraq (KRI) include fiscal crisis, close proxi
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Iraq is ready to take part in an extraordinary OPEC meeting and even reduce its fast-growing oil output if all OPEC and non-OPEC members agree - a deal which at this stage seems elusive, the country's finance minister said on Wednesday. Hoshiyar Zebari also told Reuters in an interview there are "encouraging signs" that crude prices could rebound this spring on lower output fro
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On a recent episode of the popular Iraqi Kurdish talk show "With Ranj" produced in Sulaimaniyah, the four participants — all members of diverse political parties — debated the Kurdistan Region’s political and financial crises. The discussion was most notable for its tone and substance. Instead of talking about the need for an independent Kurdistan, a topic that has preoccupied
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Oil prices have plummeted, leaving Saudi Arabia and its allies with a long-term economic crisis — just as Iran’s economy looks poised for rapid gains. Jeddah’s glittering kilometer-high Kingdom Tower, set for completion in 2018, looms over a Saudi Arabia just beginning to confront the challenge of lower oil prices. The construction of ultra-tall buildings, however, has famousl
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The purpose of the PRIX index is to forecast political developments that can affect oil exports from the world’s 20 largest oil exporters. The exports from these countries are in turn an important factor in determining the oil price. The PRIX global index number for the second quarter of 2015 is 55.87. The range of possible index values is 0-100, where 0 represents a maximum r
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