Iraq Economic News and Points to Ponder Saturday Evening 3-9-24

Tlm724 Administrator Bondlady’s Corner

Integrity Announces The Recovery Of $1.5 Million, One Billion Dinars, And Gold Coins

Money  and business   Today, Saturday, the head of the Federal Integrity Commission, Haider Hanoun, announced the recovery of more than 1.5 million dollars and about one billion Iraqi dinars and gold coins, while revealing a draft agreement to coordinate work with the Integrity Commission in the Kurdistan region.

Hanoun said, in a statement followed by Al-Iqtisad News, that “the authority recovered some amounts in cash, some of them were prevented from being wasted, and others are in the process of being recovered,” pointing out that “some amounts are in Iraqi currency, and others are in dollars.”

He added, "During our annual conference tomorrow, Sunday, we will display a recovered amount of more than one and a half million US dollars, as well as amounts in Iraqi currency of up to one billion dinars, and other amounts, in addition to gold coins."

He pointed out that "the Integrity Commission coordinates work with the Kurdistan Region Integrity Commission, and there is a draft agreement to coordinate joint work, and Integrity as a federal body supervises all governorates," stressing that "the financial disclosure of officials includes all Iraqi officials and employees."

Hanoun called on the Integrity Commission in the Kurdistan Region to “assist with arrest warrants and financial disclosures for officials, so that the Federal Authority can audit them like all officials,” stressing that “everyone is subject to the law.”  03/09/2024 - https://economy-news.net/content.php?id=41277

Al-Rasheed Bank announces the launch of all types of credit grants

Economy | 10:12 - 09/03/2024  Mawazine News – Baghdad  Al-Rasheed Bank announced, on Saturday, the launch of all types of credit grants, while calling on citizens to visit its branches spread across Baghdad and the governorates to obtain advances.

The bank’s media office stated in a statement received by Mawazine News, that “all types of credit available to it have been launched,” calling on “citizens and employees who wish to obtain the specified (advances and loans) to review its branches spread in Baghdad and the governorates and begin promotion in accordance with the instructions and controls it has specified, or Through the bank’s application, which will be available during official working days only.”

He continued, "Citizens wishing to apply for (loan advances) can access the application from their place of work or residence without the need to visit the bank," warning "against dealing with fake pages and private offices that claim to be linked to the bank."

The bank stressed that “the customer’s dealings are direct with the bank and that there is no need for an intermediary or the use of external offices.”  https://www.mawazin.net/Details.aspx?jimare=243471

Launching The Baghdad Alliance To Support The Private Sector... And The Founders Confirm: We Seek To Enhance Investment Opportunities In The Capital

Saturday 09, March 2024 21:57 | Economical Number of readings: 451  Baghdad / NINA / It was announced in the capital, Baghdad, today, Saturday, the launch of the “Baghdad Alliance to Support the Private Sector,” which includes a group of business owners, industrialists, civil organizations, and representatives of the private sector in Baghdad Governorate, in order to enhance participation between representatives of the private sector, the central government, the local government, and community organizations.

Al-Madani, with the aim of enhancing the business environment and improving investment opportunities within the capital, Baghdad.

The members participating in the coalition pointed out, through a press statement, that these groups have worked since mid-2023 to study the reality of the private sector, and to evaluate the steps that have been taken at the executive and legislative levels to support the market-oriented economy, “stressing the monitoring of real and serious steps from the governmental and local side to work.” To solve all the challenges facing the private sector.”

He added, "The Baghdad Alliance will work on a set of goals, including representing an advisory body for decision-makers that provides practical recommendations that contribute to formulating policies related to investment and development. The Alliance will also work to create an interactive environment between the allied decision-makers and the private sector to point out problems on the ground." reality and propose practical solutions to it.”

The coalition explained, “The coalition’s primary tasks are to strengthen strategic partnerships between the private sector, the government, and academic institutions to achieve sustainable development,” calling on all interested companies, institutions, and individuals to join the Baghdad Alliance to support the private sector, in order to build a prosperous and developed future./End 5

https://ninanews.com/Website/News/Details?key=1112073

Oil Is Heading For A Weekly Loss Amid Concern About Demand In China

Saturday 09, March 2024 09:14 | Economical Number of readings: 350  Baghdad / NINA / Oil prices fell yesterday evening, Friday, heading to end the week on a decline, in light of continued market concern about Chinese demand for crude despite the OPEC+ extension of production cuts, which led to curbing supplies.

Brent crude futures fell 87 cents, or 1.04 percent, to $82.10 per barrel, and US West Texas Intermediate crude futures fell 96 cents, or 1.2 percent, to reach $77.98 per barrel.

Both benchmarks are heading towards recording a weekly decline, as Brent crude fell by 0.6 percent and West Texas Intermediate by 1.3 percent  https://ninanews.com/Website/News/Details?key=1111910

“Slight Stability.” Al-Eqtisad News Publishes Exchange Rates On Local Stock Exchanges

Market   Al-Iqtisad News publishes the dollar exchange rates on Iraqi stock exchanges, during today’s trading, Saturday.

Exchange rates stabilized at 150,000 dinars per 100 dollars on the Baghdad and Basra stock exchanges.

As for the governorates of the Kurdistan region, exchange rates did not witness any increase and stabilized at the same level   Views 101 03/09/2024 - https://economy-news.net/content.php?id=41275

To read more current and reliable Iraqi news please visit BondLady’s  Corner: https://www.bondladyscorner.com/  

Provoking Points to Ponder on Decisions 

Here's a rule I recommend. Never practice two vices at once.  - Tallulah Bankhead

You cannot serve God and Mammon.  - Bible

Between two stools one sits on the ground.  - French proverb

When you cannot make up your mind between two evenly balanced courses of action, choose the bolder.  - W. J. Slim

When confronted with two courses of action I jot down on a piece of paper all the arguments in favor of each one, then on the opposite side I write the arguments against each one. Then by weighing the arguments pro and con and cancelling them out, one against the other, I take the course indicated by what remains.  - Benjamin Franklin

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