Iraqi News Early Friday AM 7-8-22

TLM724 Administrator BondLady’s Corner

A Delegation Of Iraqi Businessmen Visits Tehran At The End Of July To Discuss 3 Files

Economic      Last update 07/07/2022 | 2:31 pm  Information / Diyala..Iraqi businessman Rahim Al-Obeidi confirmed on Thursday that a delegation of businessmen will visit the Iranian capital, Tehran, at the end of July to discuss 3 important files.

Al-Obaidi said in an interview with Al-Information that:

"there are great opportunities to develop trade and economic relations between Diyala and many Iranian cities, including Kermanshah, with the presence of two border crossings," stressing that

"a delegation of businessmen will visit Tehran to discuss 3 files, most notably investment." reciprocal.”

Al-Obaidi added, "There is an Iranian desire to invest in several areas inside Iraq, including Diyala, especially in the housing and industry files," noting that

"the interaction of businessmen is important in order to agree on a set of broad lines that contribute to creating the atmosphere for joint business."  He pointed out that

"the stability of the security situation provided a great opportunity to revitalize the economic and commercial dimension between Diyala and Iran in particular, in light of the presence of border crossings."

Iranian goods and materials are flowing in abundance through two border crossings towards Diyala, which contribute to promoting economic and commercial activity. https://almaalomah.me/2022/07/07/607459/

Deputy: Private Banks Are Led By Corruption Mafias, And The Central Bank Must Intervene

Politician    2022/07/06 | 3:19 pm  Information / Baghdad.. The representative of the Al-Fateh Alliance, Aziz Sharif Al-Mayahi, called, on Wednesday, the Central Bank of Iraq to reconsider the classification of Iraqi private banks and hold them accountable that did not provide any investment or economic benefits to Iraq, referring to

some private banks that have turned into shops to issue letters of guarantee and

take high and large commissions in addition to

Depletion of hard currency and

smuggling it with false invoices.

Al-Mayahi said in a statement received by "The Information",

"There are many private banks led by a number of corruption mafias, which, unfortunately,

have turned into shops for issuing letters of guarantee and

taking high and large commissions that burden contractors, in addition to

draining hard currency and

smuggling it abroad and

paying forged invoices to The central bank and

market speculation

have not negatively affected the economic situation and harmed the Iraqi private sector and established its wealth at the expense of Iraq and its people without presenting any investment or economic plans or projects that would benefit Iraq or reduce the suffering of the poor classes.

Al-Mayahi added, “The Central Bank had previously worked on grading private banks according to what they presented, but unfortunately

we did not find any of those private banks that were granted advanced degrees any benefit to the country, and

they did not have any positive role during the successive economic crises that The country was ravaged, and

despite this, its wealth is still growing from the country’s bounties without any account or supervision.”

He stressed "the importance of returning the central bank to all its accounts in dealing with private banks and setting stricter controls in checking invoices sent from those banks,

given that the volume of exports does not equal the volume of hard currency leaving the country to sort out the lagging ones after giving them a time limit to rearrange their plans and

in the event that: The continued reluctance should work to withdraw licenses from them and oblige them to pay fines for the extent of the damage they caused to the Iraqi economy and the private sector.”

https://almaalomah.me/2022/07/06/607308/

Al-Atabi: 3 Files In The Next Government's Priorities, The Most Prominent Of Which Is Dealing With The Exchange Rate

Politician    Last update 07/06/2022 | 10:47 PM Information / Baghdad... The leader in the coordination framework, Turki Al-Atabi, confirmed, on Wednesday, that 3 files are among the priorities of the upcoming government, the

most prominent of which is dealing with the exchange rate.

Al-Otabi said in an interview with Al-Information, that

"3 important files are among the priorities of the next government, which are the

removal of the US forces, the

return of the dollar exchange rate, and the

organization of the national economy file in a way that reduces the fluctuations of the global markets for the sale of oil and its direct impact on the budget."

Al-Otbi added, "The features of forming the government will be more clear after the end of the Eid al-Adha holiday, stressing that

the political consensus will resolve all complications and will push all forces towards a broader participation in the next government."

He pointed out that "from 4-6 candidates so far in the scene for the post of prime minister, but its resolution will be directly after the end of the Eid holiday."

The coordination framework is leading an accelerated political movement for the good formation of the next government.” Ended on February 25    https://almaalomah.me/2022/07/06/607361/

Oil Prices Hit A New High

Economie| 10:09 - 07/08/2022  Follow-up- Mawazine News:  Oil prices rose slightly in volatile Asian trading on Friday, reversing previous losses as the market weighed severe global supply concerns against recession fears.

Brent crude futures rose 48 cents, or 0.5 percent, to $105.13 a barrel by 0630 GMT, after rising nearly 4 percent on Thursday.

US West Texas Intermediate crude rose 3 cents to $102.76 a barrel, after settling up 4.2% the previous day.

However, both contracts are still set for their second consecutive weekly loss. Trade this week was marked by a sharp sell-off on Tuesday, when WTI fell 8% and Brent sank 9%.

And Brent's decline of $10.73 was the third largest drop for the contract since it began trading in 1988.

https://www.mawazin.net/Details.aspx?jimare=198854

The Stability Of The Dollar Exchange Rates In The Local Markets

Economie| 10:07 - 08/07/2022  Baghdad - Mawazine News  The dollar exchange rates witnessed stability, today, Friday, in the Iraqi market.

And the selling prices of the dollar were recorded at 148,400 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 148,300 dinars per 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=198853

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