Iraq Economic News and Points To Ponder Wednesday Evening 8-28-24
Parliamentary Finance: The Path Of Development Will Achieve A Shift In The Course Of Trade Exchange Between Iraq And The World
Chairman of the Parliamentary Finance Committee Atwan Al-Atwani Money and business Economy News – Baghdad The Parliamentary Finance Committee confirmed, on Wednesday, that the development path will achieve a qualitative shift in the course of trade exchange between Iraq and the world.
The media office of the head of the parliamentary finance committee stated in a statement, which was reviewed by "Al-Eqtisad News", that "the head of the parliamentary finance committee, Atwan Al-Atwani, received the Chargé d'Affaires of the German Embassy, Roland Vestbe, and his accompanying delegation; to discuss ways to enhance bilateral cooperation between the two friendly countries."
He added, "The meeting discussed political and security developments in the region and their impact on the Iraqi economy," indicating that "the two sides stressed the need to enhance bilateral cooperation between Baghdad and Berlin at all levels and in various fields, especially in developing the energy sector and financial and banking systems, in a way that achieves sustainable development."
Al-Atwani said - according to the statement: "Iraq looks forward to strengthening its relations with everyone on the basis of mutual respect, common interests, and non-interference in its internal affairs," adding that "the political and security stability that Iraq is currently witnessing has made it an attractive environment for investment."
He continued, "The entry of major international companies into Iraq is a clear indicator of stability and security, and we look forward to the participation of German companies in developing the energy sector and helping Iraq invest its wealth," noting that "the development path will achieve a qualitative shift in the course of trade exchange between Iraq and the world as it shortens time and provides security."
Al-Atwani pointed out that "many European countries have expressed their desire to join the development path, and Germany must have a presence in this strategic project, and the industrial and commercial projects scheduled to be established along the development path will drive the economy and provide thousands of job opportunities." - https://economy-news.net/content.php?id=46875
96% Increase In Iraqi Currency Auction Remittance Sales
Time: 2024/08/28 16:27:04 Read: 468 times {Economic: Al Furat News} Foreign remittance sales rose in the Central Bank auction on Wednesday by 96% over cash sales, reaching more than $268 million.
The bank sold in today’s currency auction 280 million, 775 thousand, and 565 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.
Most of the dollar sales went to boost balances abroad in the form of transfers and credits, which amounted to $268,125,565, up 96% from cash sales of $12,650,000.
The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 15 banks, and the total number of exchange companies participating in the auction was 16 companies. LINK
OPEC Secretary General Arrives In Baghdad
Economy - 08/28/2024 Mawazine News – Baghdad OPEC Secretary-General Haitham Al-Ghais arrived in Baghdad on a two-day visit.
The ministry's spokesman, Mr. Asim Jihad, said: "The visit comes within the framework of bilateral communication on developments in the oil market, in addition to strengthening and expanding the horizons of cooperation in OPEC and OPEC Plus." Jihad pointed out that Al-Ghais's visit schedule includes meeting the Minister of Oil and a number of officials https://www.mawazin.net/Details.aspx?jimare=254052
Oil Rises, Brent At $79
Economy | 08/28/2024 Mawazine News – Baghdad Oil prices rose on Wednesday, after a sharp drop in the previous session that snapped a three-day winning streak, as investors were left in a state of confusion amid concerns about a possible decline in output from Libya and the Middle East on the one hand, and worries about global fuel demand on the other.
Brent crude futures were up 25 cents, or 0.31 percent, at $79.80 a barrel by 0209 GMT.
U.S. West Texas Intermediate (WTI) crude futures were up 17 cents, or 0.23 percent, at $75.70, according to Reuters.
This follows a decline of more than 2 percent on Tuesday that snapped a three-day winning streak of more than 7 percent, as concerns about weaker refining profits weighed on the outlook for fuel demand amid data suggesting global consumption growth is below expectations this year. https://www.mawazin.net/Details.aspx?jimare=254050
Dollar Exchange Rate Today
08/28/2024 Mawazine News – Baghdad Mawazine News publishes today, Wednesday, the exchange rates of the dollar against the Iraqi dinar in local markets. The prices are as follows: - Selling 149,750 dinars for every 100 dollars. Buy 147750 dinars for every 100 dollars. https://www.mawazin.net/Details.aspx?jimare=254061
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