Iraq Economic News and Points to Ponder Thursday Afternoon 10-12-23

Tlm724 Administrator Bondlady’s Corner

For The Second Day...The Dollar Continues To Decline Against The Iraqi Dinar

Time: 2023/10/12 10:25:06 Read: 3,432 times  {Economic: Al-Furat News} Dollar prices fell, today, Thursday, in Baghdad markets

The prices were as follows.. The selling price was 161,500 Iraqi dinars, while the purchase amounted to 159,500 dinars per 100 dollars.   Link

Slight Decline In Dollar Exchange Rates In Baghdad

Economy  Wednesday, October 11, 2023 Baghdad / National News Center  Today, Wednesday, dollar prices recorded a slight decline in the markets of the capital, Baghdad, to record 162,100 dinars against 100 dollars, while yesterday, Tuesday, prices were 163,000 dinars against 100 dollars.

Selling prices in exchange shops in local markets in Baghdad reached 163,000 dinars per 100 dollars, while purchasing prices reached 161,000 dinars per 100 dollars.   https://nnciraq.com/231158/

By More Than 300%...The OPEC Countries Implement The “OPEC+” Agreement

Economy  Thursday, October 12, 2023 Follow-up / National News Center  The Russian “Novosti” agency reported today, Thursday, that oil production in OPEC member states rose last month by 273 thousand barrels per day compared to the previous month.

The organization's monthly report stated that production reached an average level of 27.75 million barrels per day thanks to Nigeria, Saudi Arabia, and Kuwait. During this, the OPEC countries participating in the “OPEC+” agreement produced 3.88 million barrels per day less than the permissible levels, implementing the agreement by 305%.

The report explained that, according to some sources, OPEC’s total production of crude oil reached an average of 27.75 million barrels per day in September 2023, an increase of 273 thousand barrels per day compared to last August. Oil production increased mainly in Nigeria, Saudi Arabia and Kuwait, while production decreased in Venezuela and Equatorial Guinea.

Thus, OPEC fulfilled the “OPEC+” agreement by 305%, which led to reducing production by 3.88 million barrels per day above the prescribed quotas.   https://nnciraq.com/231426/

The Federal Supreme Court Issues A Ruling Confirming Its Role In Protecting Public Money

Iraq  Thursday, October 12, 2023 Baghdad/National News Center  Today, Thursday, the Federal Supreme Court issued a ruling affirming its role in protecting public money.

The court stated in a statement received by the National News Centre, that it “ruled, in a ruling issued in a public session and with the agreement of all its members, to reject the challenge to the constitutionality of the text of Article (19/Fourth) of the Integrity Commission Law No. 30 of 2011, amended by Law No. 30 of 2017, which stipulates (The court shall order the return of the value of the illegal gain.

Those convicted in accordance with clauses (Second) and (Third) of this article shall not be released except after paying the amount of the fine and returning the value of the illegal gain. The expiration of the criminal case due to death shall not prevent the implementation of the ruling to return the value of the illegal gain.) from him".

She pointed out that it is “a legislative option for the House of Representatives in accordance with its constitutional jurisdiction to legislate federal laws, and it came for organizational and procedural matters, the purpose of which is to protect public funds in accordance with what was stated in Article (27/First) of the Constitution, which affirmed the sanctity of public funds and that protecting them is the duty of every citizen.”    https://nnciraq.com/231366/

In 5 Sessions.. Iraqi Market: Trading Of Shares Worth More Than 4 Billion Dinars

Money  and business  Economy News – Baghdad  Today, Thursday, the Iraq Stock Exchange announced the weekly trading indicators.

 It was stated in a statement received by Al-Eqtisad News that, “During the second week of October 2023, the Iraqi Stock Exchange organized five trading sessions from Sunday (October Cool to Thursday (October 12).”

The statement added: “During this week, the following indicators were achieved:

1. The number of shares traded during this week reached more than 2 billion shares.

2. The value of shares traded this week amounted to more than 4 billion dinars.

3. The market trading index closed for the first session of the week at (836.30) points, while the index closed at the end of the week at (816.10) points, achieving a decrease of (2.48%) from its close at the first session.

4. During the week, (3043) purchase and sale contracts were executed on the shares of companies listed in the market.   Views 39 10/12/2023 - https://economy-news.net/content.php?id=36939

A Source In The Central Bank Denies, Via “Al-Iqtisad News,” The Suspension Of The “Western Union” Service.

Money  and business  Economy News – Baghdad  On Thursday, a source in the Central Bank of Iraq denied reports about the suspension of the “Western Union” international financial transfer service in Iraq.

The source told Al-Iqtisad News Agency: “The Central Bank of Iraq denies this news and there is no truth to the existence of such a practice.”

The source called for "not to circulate news from unknown and incorrect sources."

Views 69 10/12/2023 - https://economy-news.net/content.php?id=36940

Oil Prices Decline, And Brent Crude Oil Reaches $85 Per Barrel

Economy | 12/10/2023  Baghdad - Mawazine News   Today, Thursday (October 12, 2023), oil prices continued to decline for the third session, affected by a larger-than-expected increase in crude and gasoline inventories in the United States and a decline in concerns about supplies.

By 0138 GMT, Brent crude futures fell 41 cents, equivalent to 0.48 percent, to $85.41 per barrel. While US West Texas Intermediate crude fell 49 cents, or 0.59 percent, to $83 per barrel.

Both benchmarks gave up most of their gains at the beginning of the week.

US crude oil inventories increased by about 12.9 million barrels, according to market sources, citing American Petroleum Institute figures on Wednesday.

This is much higher than the increase of 500,000 barrels that analysts expected in a Reuters poll.

The data showed that gasoline stocks also rose by 3.6 million barrels, which is completely contrary to the decline of 800,000 barrels that analysts expected, as fears of a slowdown in demand for fuel in the United States continue.

Markets are awaiting more data on inventories from the US Energy Information Administration, scheduled to be released later on Thursday at 1430 GMT.

https://www.mawazin.net/Details.aspx?jimare=236242

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Points to Ponder from The Seat of the Soul By Gary Zukav:

You create your  reality with your intentions 

An intention is a quality of consciousness that you bring to an action

At each moment you choose the intentions that will shape your experiences and those things upon which you will focus your attention -- If you choose unconsciously, you evolve unconsciously -- If you choose consciously, you evolve consciously 

Every action, thought, and feeling is motivated by an intention -- and that intention is a cause that exists as one with an effect -- If  we participate in the cause - it is not possible for us not to participate in the effect -- In this most profound way - we are held responsible for our every action , thought, and feeling, which is to say, for our every intention

From the perception of the five sensory human, intentions have no effects, the effects of actions are physical, and not all actions affect us or others -- From the perception of the multi sensory human -- the intention behind an action determines its effects, every intention affects both us and others -- and the  effects of intentions extend far beyond the physical  world

Feel your intentions in your heart -- Feel not what your mind tells you, but what your heart tells you