Iraq Economic News and Points to Ponder Saturday Evening 1-4-25
Dollar Continues To Fall Against Dinar In Baghdad And Erbil With Closing
Economy | 04/01/2025 Mawazine News – Baghdad The dollar prices fell in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, on Saturday, with the closing of the stock exchange at the beginning of the week.
The dollar prices also fell with the closing of the Al-Kifah and Al-Harithiya stock exchanges, recording 151,600 Iraqi dinars for every 100 dollars, while this morning it recorded 151,700 dinars for every 100 dollars.
The selling prices in the exchange sector stabilized in the local markets in Baghdad, where the selling price reached 152,500 Iraqi dinars for every 100 dollars, while the purchase price reached 150,500 dinars for every 100 dollars.
In Erbil, the dollar also recorded a decline, where the selling price reached 151,400 dinars for every 100 dollars, and the purchase price reached 151,200 dinars for every 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=258196
The Iraqi Government Succeeds In Recovering 50 Billion Dinars From The Corrupt During 2024
Money and business Economy News – Baghdad The Parliamentary Integrity Committee confirmed, today, Saturday, that the government succeeded in recovering 50 billion dinars from the corrupt during the past year, while indicating that Prime Minister Mohammed Shia Al-Sudani played a prominent role in reducing corruption files.
Committee member MP Alia Nassif said: "Al-Sudani and the Integrity Commission had an effective impact in reducing the aggravation of these files and prosecuting those involved in them," noting that "the government also succeeded in recovering about 50 billion dinars from those involved in corruption files in the Deal of the Century, in addition to the Director General of Refineries and the Assistant Director of Investment during the year 2024."
Nassif pointed out that "the anti-corruption operations also included pursuing those involved in real estate fraud files," noting that "most ministries and governorates formed sub-committees to stop the waste of public money." 199 views 01/04/2025 - https://economy-news.net/content.php?id=51588
Al-Sudani's Advisor: 3 Economic Benefits For Iraq From Foreign Partnerships
Time: 2025/01/04 19:03:39 Read: 1,508 times {Economic: Al Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the common external ties with the world contribute to achieving three main positive results for the Iraqi economy, while pointing out the importance of these ties in enhancing comprehensive economic development.
Saleh explained to {Euphrates News} that: "The first result is represented in diversifying the national economy, as these links contribute to breaking the monopoly of the economy and reducing dependence on oil resources, by supporting the advanced agricultural, industrial, tourism, and services sectors."
He also stressed "the importance of encouraging small and medium enterprises, which are the backbone of the sustainable economy, especially with the strength and stability of global links."
The second result is related to strengthening partnerships with the private sector, as Saleh pointed out "the need to facilitate partnerships between the public and private sectors to implement major projects, in addition to providing incentives to the private sector to invest in non-oil sectors, which enhances the diversity of the economy."
He added that "the third result lies in investing in human resources, by developing the education and vocational training system to meet the needs of the labor market rapidly."
Saleh called for "promoting innovation and entrepreneurship among young people, with a focus on artificial intelligence technology and the effective integration of information technology and knowledge," noting that "Iraq can benefit from its strategic geographical location as a link between Asia and Europe to enhance its role as a global trade center through the "Development Road" project.
He stressed "the importance of building strong economic relations with countries such as China, Europe, Turkey, Iran, and the Gulf states to achieve an exchange of economic benefits," stressing that "Iraq looks forward with steadfastness and a clear vision to achieving this goal through legislation and regulations that facilitate its integration into the global economy, while enhancing international cooperation and building long-term economic relations."
At the end of his statement, Saleh stressed that "stability in all its aspects is a basic condition for implementing these steps and achieving comprehensive economic development."
The head of the National State Forces Alliance, Mr. Ammar al-Hakim, stressed during his speech at the mass gathering in Najaf on the anniversary of the martyrdom of the Martyr of the Mihrab, Grand Ayatollah Sayyid Muhammad Baqir al-Hakim {may God sanctify his secret} yesterday, Friday, that combating corruption, establishing security, and building a balanced economy is our gateway to building a strong state, while calling for striving through Iraq To establish long-term economic ties and common interests that our peoples and the peoples of our Arab and Islamic region enjoy.
Mr. Ammar Al-Hakim also stressed the importance of focusing on reconstruction projects, economic development and increasing investments in the country. LINK
Gold Rises In Baghdad And Stabilizes In Erbil
Saturday 04 , January 2025 | Economic Number of readings: 172 Baghdad / NINA / Gold prices recorded a rise in the markets of the capital, Baghdad, today, Saturday, while they stabilized in Erbil.
The selling prices of gold in the wholesale markets on Al-Naher Street in Baghdad, this morning, recorded 564 thousand dinars per mithqal of Gulf, Turkish and European gold, 21 carats, and 560 thousand dinars for purchase.
The selling price of one mithqal of Iraqi gold, 21 carats, recorded 534 thousand dinars, and 530 thousand dinars for purchase.
In goldsmiths' shops, the selling prices of a mithqal of Gulf gold, 21 carats, ranged between 565 thousand dinars and 575 thousand dinars, while the selling prices of a mithqal of Iraqi gold ranged between 535 thousand dinars and 545 thousand dinars.
In Erbil, gold prices recorded a remarkable stability, as the selling price of 24-karat gold reached about 648 thousand dinars, and 21-karat, 567 thousand dinars, while the selling price of 18-karat gold reached about 485 thousand dinars/End https://ninanews.com/Website/News/Details?key=1178228
More Than A Billion Dollars In Central Bank Sales During The Past Week
Saturday 04 , January 2025 | Economic Number of readings: 168 Baghdad/ NINA / The Central Bank of Iraq's hard currency sales during the past week amounted to more than one billion dollars.
The Central Bank sold, during the four days of the auction, one billion, 168 million, 534 thousand, and 738 dollars, at a daily average of 292 million, 133 thousand, and 684 dollars, up from the previous week, when the daily average was 291 million, 196 thousand, and 182 dollars.
Monday's sales topped the list with the highest sales, amounting to 298 million, 344 thousand, and 336 dollars, while the lowest sales were on Thursday, when they recorded 283 million, 484 thousand, and 126 dollars.
Foreign remittance sales during the past week amounted to one billion, 91 million, 984 thousand, and 738 dollars, compared to cash sales that amounted to 76 million, 550 thousand dollars.
The bank opened its auction last week over four days: Sunday, Monday, Tuesday, and Thursday./End7
https://ninanews.com/Website/News/Details?key=1178249
Securities Commission Announces Financial Performance Indicators For 2024
economy | 03:04 - 04/01/2025 Mawazine News – Baghdad The Securities Commission announced, today, Saturday, the main financial and economic indicators for the year 2024, indicating the remarkable growth in the performance of the Iraqi financial market and the expansion of its activities, reflecting the growing confidence in the market and its role in supporting the national economy
The Authority stated, in a statement received by (Mawazine News), that "the number of companies listed and registered in the Iraqi financial market reached 112 joint-stock companies, distributed as follows:
1. The number of companies listed on the regular and second trading platforms and not disclosed reached 104 companies.
2. The number of companies registered on the platform of unlisted companies (ISX-OTC) reached 8 companies.
Government bonds The market witnessed the trading of several types of government bonds, including:
• Construction bonds - two issues in two categories.
• Reconstruction bonds - three issues in two categories.
• Achievement bonds - two issues in two categories.
Bond trading indicators for the year 2024
1. The market traded 25,000 bonds from the second construction bond issue with a total value of 24,124,525,000 dinars.
2. The market traded 5 bonds from the first reconstruction bond issue with a total value of 4,920,000 dinars.
Stock trading indicators for the year 2024 The market recorded significant activity in stock trading:
1. The number of traded shares reached 809,708,623,733 shares, an increase of 17% compared to 2023.
2. The value of traded shares amounted to 690,408,795,990 dinars, an increase of 3% compared to 2023.
3. The number of executed contracts amounted to 182,967 contracts, an increase of 17% compared to 2023.
Regarding market indices:
• The ISX60 index closed in the last session of December at 1073.84 points, an increase of 20.23% compared to the closing of 2023.
• The ISX15 index closed at 1174.65 points, achieving an increase of 10.12% from its launch value.
• The market value for the year 2024 amounted to about 22,325,544,721,711 dinars, an increase of 19% compared to the year 2023.
Trading via the ISX-OTC platform The platform executed the trading of 5,982,484,498 shares worth 2,591,438,576 dinars through 2,295 transactions on the shares of three listed companies (Al-Warka Bank, Al-Rabee Brokerage, Al-Karmel Brokerage). The market value of the platform amounted to 105,702,830,262 dinars.
As for joint-stock companies
, • 72 joint-stock companies held annual general assembly meetings.
• 80 companies submitted their annual financial statements for the year 2023.
• 17 companies approved increasing their capital in accordance with the Companies Law.
• 22 companies distributed dividends to their shareholders.
The Chairman of the Securities Commission, Faisal Al-Haimus, stressed, "The positive indicators achieved by the Iraq Stock Exchange during 2024 reflect the great efforts made by the Commission to regulate the market and enhance transparency and trust.
We are committed to continuing to develop the financial market to be a fundamental pillar to support the national economy and attract more local and international investments.
We look forward to achieving greater achievements in the coming year, while strengthening the market infrastructure and expanding the scope of participation by the public and private sectors."
The Commission stated that the first stock trading session for 2025 will be held next Tuesday according to the official trading session times. https://www.mawazin.net/Details.aspx?jimare=258188
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