Iraq Economic News and Points To Ponder Sunday AM 6-30-24
Iraq Economic News and Points To Ponder Sunday AM 6-30-24
Investment: Iraq Has Become An Important Economic Destination In The Region
Information/Baghdad.. The National Investment Commission confirmed today, Saturday, that Iraq has become an important investment destination in the region and the world.
The Authority’s media said in a statement to the “Al-Ma’louma” Agency, “The improvement in the investment climate inside Iraq reflects the government efforts made to strengthen the economic and investment sector.”
He added, "The National Investment Commission monitors its investment and strategic projects in order to continue the rates of achievement and record the nature of the challenges that must be addressed to ensure the progress of work in Baghdad and the provinces." He pointed out that "there are major movements to create a safe climate to attract investments that achieve sustainable development in Iraq.” https://almaalomah.me/news/68835/economy/الاستثمار:-العراق-بات-وجهة-اقتصادية-مهمة-بالمنطقة
A Deputy Identifies The Positive Points In The Chinese Agreement.. “The Best For The Iraqi Economy.”
Posted On 06-29-2024 By Sotaliraq Today, Saturday, Representative Rafiq Al-Salhi identified the positive points in the Baghdad-Beijing Agreement and its impact on the national economy.
Al-Salhi said in an interview, “No one disagrees on China’s economic dimension on the international stage at the present time, with its capabilities growing in all fields to become a major economic power on the global level.”
He added, “The economic agreement between Baghdad and Beijing is important for both parties and carries positive dimensions in terms of creating flexibility in the implementation of strategic projects by Chinese companies that are distinguished by their ability, high efficiency, and interaction with the situation in a positive way.”
He pointed out that "the Baghdad-Beijing agreement is the best for the national economy, and reviving its provisions will constitute another support in opening new economic horizons through development projects, especially with regard to the Grand Faw Port."
It is noteworthy that Iraq signed an economic agreement with China during the era of Abdul Mahdi’s government, but international pressure led to its postponement. LINK
Oil Rises Significantly And Is Heading For Gains For The Third Week In A Row
Saturday 29 June 2024 08:55 | Economic Number of readings: 206 Baghdad / NINA / Crude oil prices witnessed a noticeable rise during global market trading, and prices are heading to achieve gains for the third week in a row, supported by improved market sentiment regarding the possibility that American demand for crude oil will increase during the coming period, driven by strong economic growth data in the United States. United States (the largest consumer of crude oil in the world).
At the end of trading yesterday, Friday, spot contracts for Brent crude witnessed a jump of 0.34% and reached about $85.66 per barrel, and spot contracts for West Texas Intermediate crude also rose by 0.57% and recorded about $82.22 per barrel.
Crude oil prices received support that enhanced their rise during global market trading on Friday, after data received from the US Bureau of Economic Analysis yesterday showed that the final reading of the gross domestic product growth rate in the United States recorded a growth of 1.4% during the first quarter of this year, In the same quarter, the US GDP price index recorded a growth of about 3.1% during the first quarter, which reinforced market speculation about the possibility that US demand for crude oil would increase during the coming period, supporting oil price levels in the market.
In this regard, crude oil prices recorded a clear rise during market trading, amid the prevailing state of fear in the global market regarding the possibility that the crude oil market will be exposed to a large supply deficit during the coming period, especially after a Ukrainian plane caused a fire to break out in an oil tank for the Russian Druzhba pipeline.
(One of the largest parts of the Transneft system, which monopolizes Russian pipelines), in the Tambov region, southeast of Moscow, which led to a fire in a crude oil warehouse, which pushed oil prices to rise in the last week’s trading.
Also, crude oil prices rose significantly during trading, coinciding with the escalation of geopolitical tensions in the Middle East between Israel and Lebanese Hezbollah, with Hezbollah intensifying its attacks with missiles and drones in northern Israel during the past weeks, which increased pressure on the Israeli government, and led to... Escalating tensions in the region, which may extend to areas rich in crude oil, and this would enhance expectations of the possibility that the oil market will be exposed to a shortage of supplies, and lead to a rise in crude oil prices in the market.https://ninanews.com/Website/News/Details?key=1137691
Iraq Transfers $1 Billion Abroad In A Week
Economy | 03:08 - 06/29/2024 Baghdad – Mawazine News The total sales of the Central Bank of Iraq of the dollar during the week in which the auction was opened amounted to more than one billion dollars. The Central Bank sold, during the past week and for the 4 days in which the auction was opened, one billion, 105 million, 258 thousand, and 154 dollars, at a daily average of 276 million, 314 million, and 538 dollars, lower than the week before the Eid holiday, which amounted to one billion, 378 million, 885 thousand, and 407 dollars.
The highest sales of the dollar were on Wednesday, where sales amounted to 281 million, 804 thousand, and 784 dollars, while the lowest sales were on Sunday, where sales amounted to 273 million, 244 thousand, and 330 dollars.
Foreign remittance sales last week amounted to 1 billion, 005 million, 048 thousand and 154 dollars, an increase of 90% compared to cash sales which amounted to 100 million 210 thousand dollars.
Sales went in the form of cash and remittances abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards amounted to 1310 dinars per dollar, and the selling price of remittances abroad amounted to 1310 dinars per dollar, while the cash selling price amounted to 1305 dinars per dollar. https://www.mawazin.net/Details.aspx?jimare=250464
Find Out The Exchange Rate Of The Dollar On The Baghdad Stock Exchange
Baghdad - Mawazine News The dollar exchange rate against the dinar rose slightly today, Saturday, in the central stock exchange and the markets of the capital, Baghdad.
With the opening of the Al-Kifah and Al-Harithiya stock exchanges, dollar prices recorded 147,250 dinars for every 100 dollars, while they closed last Thursday at 147,150 dinars for every 100 dollars.
Selling prices in banking shops in local markets stabilized at a selling price of 148,250 dinars, while purchasing prices reached 146,250 dinars for every 100 dollars.
https://www.mawazin.net/Details.aspx?jimare=250452
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Provoking Thoughts and Points To Ponder On Adversity:
Who hath not known ill fortune, never knew himself, or his own virtue. - David Mallett
Adversity is the trial of principle. Without it a man hardly knows whether he is honest or not. - Henry Fielding
I think the years I have spent in prison have been the most formative and important in my life because of the discipline, the sensations, but chiefly the opportunity to think clearly, to try to understand things. - Jawaharlal Nehru
We only really face up to ourselves when we are afraid. - Thomas Bernhard
Difficulties are things that show what men are. - Epictetus
http://famousquotesandauthors.com/topics/adversity_quotes.html