Iraqi News Friday AM 9-9-22
Iraqi News Friday AM 9-9-22
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Iraq Offers Condolences To The United Kingdom On The Passing Of Queen Elizabeth Ii
political| 12:08 - 09/09/2022 Baghdad - Mawazine News, today, Friday, Iraq offered condolences to the United Kingdom on the departure of Queen Elizabeth II.
The ministry said in a statement received by Mawazine News, a copy of it, that "the Iraqi Ministry of Foreign Affairs extends its deepest condolences and sympathy to the government of the United Kingdom and its friendly people, on the passing of Queen Elizabeth II, who had a presence in the most important historical, social and political stations of the kingdom and its friends." https://www.mawazin.net/Details.aspx?jimare=204940
The Currencies Of These Countries Will Change Shape After The Death Of Queen Elizabeth
the scientist| 01:35 - 09/09/2022 Follow-up - Mawazine News After the death of Queen Elizabeth II, changes are expected to be made in the form of banknotes and coins, in the countries subject to the British crown, whose currencies were marked by the faces of British kings.
The currencies of Britain, Canada, Australia, New Zealand, Jamaica, and the Central Bank of the Eastern Caribbean, and the rest of the Commonwealth countries, are expected to change their current shape, to bear the face of King Charles, the successor of the late Queen.
This change in the form of the currency will not be immediate, and the current currencies will continue to be used, and they may be gradually replaced.
The Bank of England issued a statement, yesterday, Thursday, confirming that banknotes containing images of Queen Elizabeth II will remain legal tender after her death, and that it will make another announcement regarding the current banknotes after the mourning period ends.
It is scheduled to carry banknotes of different denominations in Britain, the image of the new king, and gradually replace the old.
In the monarchy, it is customary for the king's face to appear in the opposite direction to the face of his predecessor. As such, the left side of King Charles' face will appear on UK coins, as the coin had the right side of the late Queen's face.
Although the Queen assumed the British throne in 1952, she did not appear on banknotes until 1960, when her portrait first appeared on the 1 pound note, and her portrait later appeared on the rest of the banknotes.
In Australia, most Australians did not see any other face on their coins, other than Queen Elizabeth. For decades, the Queen's portrait has been an important reminder of Australia's relationship with the royal family and its status as a constitutional monarchy.
It is expected that the Queen's portrait will remain on coins, the Australian $5 bill, for some time, and a gradual transition to King Charles coins. It is also possible for currencies bearing the image of both to be traded together.
Since 1966, more than 15 billion pieces of coins have been minted in Australia, most of them bearing the image of Queen Elizabeth, but after her death, according to the Reserve Bank of Australia, all coins and banknotes issued by it since 1913, including Bearing the portrait of the late queen, it retains its legal status as the country's currency.
"The king traditionally appears on the lowest denomination of Australian banknotes, and we expect this to continue in the event of a change of king," an Australian Reserve spokesman said.
"We will plan to update the design of the $5 banknote, in due course...Creating a new design for the new banknote is a complex process," he added.
In Canada, the central bank said the current $20 banknote, which features Queen Elizabeth's portrait, is set to circulate for years to come, and that there is no legislative requirement to change the design during a certain period when the monarch changes.
According to some experts, it is expected that the face of King Charles will appear on the Canadian currency within a year or two, according to the plans of the authority responsible for the minting.
The Queen appeared in the first series of Bank of Canada banknotes when she was a child in 1935. Ended
https://www.mawazin.net/Details.aspx?jimare=204945
Al-Kazemi's Advisor: OPEC's Policy Will Help Stabilize Prices Instead Of Oversupplying The Market
Energy Economy News – Baghdad The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said, on Thursday, that the process of reducing some quantities produced from the quotas of members in OPEC, is subject to a standard formula to be agreed upon unanimously by the members.
Saleh added in an interview with the official news agency, "The future of the oil market is based on a bet based on the quantities produced and oil prices, and the goal is to strike a balance between the desired supply and demand and to address the market glut."
He continued, "OPEC's policy of reducing the excess supply of what the oil markets believe, will help stabilize prices instead of market glut, and continue with high supply, which is offset by a continuous decline in prices and losses in financial returns that are unknown."
Saleh expressed his hope that setting production quotas for the country's oil would not lead to negative effects on the expected financial returns. Views 99 Added 09/08/2022 - 7:27 PM Update 09/09/2022 - 4:24 PM https://economy-news.net/content.php?id=29620
Sumo: The OPEC Agreement Affected The Increase In Revenues Entering Iraq
Political | 04:09 - 09/09/2022 Baghdad - Mawazine News The Iraqi Oil Marketing Company "SOMO" confirmed today, Friday, that it had received requests to increase the quantities of Iraqi oil exported to Asia, while noting that the OPEC agreement affected raising the revenues entering the country.
The company's general manager, Alaa Al-Yasiri, said that "Russia is currently present in Asia as a competitor, but it will not affect the presence of Iraq, as the Oil Marketing Company has contracted with major government companies in major crude oil consuming countries."
Al-Yasiri added, "Iraq is in contract with almost all government refineries in China, as well as with government refineries in India, and these countries are not willing to risk abandoning Iraqi crude oil because they are sure that Russian crude from an economic point of view is better for it to go to Europe because the distance The pipeline network and the cost of transportation all have effects.
In the event that the problem between Russia and Ukraine ends, the Russian exporter does not prefer sending crude to Asia and will send it to Europe. As for Iraq, it prefers to send its crude oil to Asia because they see that the future is with Iraqi crude and they will not give it up at a time when they are buying Quantities of markets in order to raise their stocks, but so far none of our customers has requested to cancel the contract, on the contrary, there is a request to increase quantities in Asia.”
And he continued, "Iraq has not had a reduction for a while, and now it exports all the quantities available for export and there is no problem, and all the quantities produced in excess of the domestic need available for export are completely exported," noting that "the OPEC agreement affected raising the revenues that enter Iraq." .
He continued: "In previous periods, the revenue from exports to the Ministry of Finance ranged between one and a half billion and two billion before the agreement, but after it, prices began to recover and reached $60 and $70, and during the Ukrainian crisis the price reached $100, so the revenue thus exceeded 11 billion." dollars a month, and now we've made $82 billion."
He pointed out that " And he stated, "The seminars are large, and the company invites all international companies to attend them." Next year, there will be an increase in quantities and a change in the type of crude oil purchased.”
He pointed out that "some companies may want to change heavy oil to medium and vice versa, and some companies have objections that must be taken into account with regard to fines, logistics and docks, and most important of all are the specifications of the crude sold," adding: "We have committees that form For the purpose of determining quantities and buyers for the coming year.
He noted that "Iraq for three years is the first supplier of crude in India, as it imports from many countries as one of the large countries, as well as China, but now it is said that this year will be the competitor to Iraq, Russia in this market, but Iraq is still the largest supplier to the market." ".
He continued: "Saudi Arabia is a major exporter and producer of crude oil and a very important competitor, and it has a presence in all markets through large investments, not only through the commercial relationship in buying and selling, but they have investments in various refineries in the world.
Among their conditions in these investments is that the oil that is used in This refinery must be in a certain proportion purely Saudi, as it is a competing country, but the market needs Saudi and Iraqi oil.”
He emphasized, that " He concluded by saying: "As for the ministerial meetings, the Saudi prince, the minister and the one before him always communicate, given that the Iraqi oil minister is very important and influential in making decisions, so most decisions are discussed with the ministers for the benefit of the two countries because the benefit is mutual." https://www.mawazin.net/Details.aspx?jimare=204955
Iraq's Gold Reserves Rise To 130.4 Tons
Political | 02:40 - 09/09/2022 Follow-up - Mawazine News, Iraq's gold reserves rose to 130.4 tons.
The statistics of the World Gold Council showed that the reserves of the world's central banks of the yellow metal amounted to 35,393 tons by the end of July 2022.
According to those statistics, Iraq ranked third in the Arab world, and thirty in the world, with reserves of 130.4 tons until the end of last July. Ended https://www.mawazin.net/Details.aspx?jimare=204949
Dollar Exchange Rates Against The Dinar
Economie| 10:39 - 09/09/2022 Baghdad - Mawazine News The dollar exchange rates witnessed stability today, Friday, on the Iraqi Stock Exchange.
And the selling prices of the dollar were recorded at 147,900 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 147,800 dinars per 100 dollars. Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=204932
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