Iraqi News Highlights Thursday Afternoon 10-13-22
Iraqi News Highlights Thursday Afternoon 10-13-22
Tlm724 Administrator Bondlady’s Corner
The Start Of The Second Round Of Electing The President Of The Republic
Political | 04:09 - 10/13/2022 Baghdad - Mawazine News, the Media Department of the House of Representatives announced the start of voting in the second round to elect the President of the Republic. The department said in a statement that Mawazine News received a copy of it, that "the second round of electing the president of the republic has begun."
She added, "The number of attendees in the second round amounted to 242 deputies."
Despite The Insistence Of The Central..A Deputy Talks About The Possibility Of Changing The Dollar Exchange Rate
Posted On2022-10-13 By Sotaliraq The representative of Ishraqa Kanon, Basem Al-Gharabi, spoke on Wednesday about the possibility of changing the exchange rate of the dollar in Iraq.
Al-Ghurabi said in a statement that "the dollar's exchange rate in its current condition promises that the treasury of the Sultan will be full and the stomachs of the subjects will be hungry."
And he indicated that "in an intervention during the expanded meeting held by the Finance Committee and in the presence of the Governor of the Central Bank, he prepared a full study in cooperation with solid Iraqi universities and specialized professors, in which he proved the possibility of changing the exchange rate to suit the market situation and the condition of the poor citizen in conjunction with the current economic growth."
And earlier today, Wednesday, the Central Bank denied the existence of any efforts to change the exchange rate of the dollar, and that any possibility to change it now will cause the destruction of the Iraqi economy. LINK
Central Bank: Changing The Exchange Rate Will Destroy The Economy
Economie| 06:19 - 10/12/2022 Baghdad - Mawazine News, on Wednesday, the Central Bank of Iraq denied the existence of efforts to change the exchange rate of the dollar, while warning against the process of destroying the economy and its stability.
Central Bank adviser Ihsan Shamran al-Yasiri told the official news agency, "The Central Bank of Iraq is an independent body, and the exchange rate adjustment is done in agreement with the government, and there are no efforts now to change it."
He added, "The pressures exerted to change the exchange rate are populist, and if the change takes place, it will destroy the economy and stability, because financial and economic transactions and investors built their projects on the new rate, and it is incorrect to seek to change the exchange rate."
Al-Yasiri continued, "Changing the exchange rate raised the competitiveness of the local product, and although there are some harms to the consumer, the change process enabled the government to pay the salaries of employees after the state budget was empty." Ended 29/R77
Dollar Exchange Rates Against The Dinar
Economie| 09:35 - 10/13/2022 Baghdad - Mawazine News, the dollar exchange rates rose, today, Thursday, on the local stock exchange. Selling price: 147.900 dinars per $100 purchase price: 147.800 dinars per $100 https://www.mawazin.net/Details.aspx?jimare=208099
The Stock Market Closes Higher At The End Of The Week's Trading
Market Economy News – Baghdad The Iraqi Stock Exchange closed, on the last trading day of this week, up by 0.18%. The stock exchange traded the shares of 40 companies through 602 transactions, with a number of shares amounting to 437 million, with a value of 742 million dinars.
Shares of the Iraqi Islamic Bank rose by 6.67%, followed by metal and bicycles by 4.89% and electronic industries by 3.5%. The shares of agricultural products fell by 3.61%, and then modern livestock production by 3.12%. 18 . views Added 10/13/2022 - 4:55 PM Update 10/13/2022 - 5:15 PM
https://economy-news.net/content.php?id=30198
Oil Price Stability
Economie| 09:18 - 10/13/2022 Follow-up - Mawazine News: Oil prices struggled to find a foothold in Asian trading, on Thursday, after falling in the previous session on the back of weak global demand expectations.
Brent crude futures rose 3 cents, or 0.3 percent, to $92.48 a barrel by 0410 GMT. US West Texas Intermediate crude fell 12 cents, or 0.14 percent, to $87.15 a barrel.
Last week, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia pushed prices higher when they agreed to cut supplies by 2 million barrels per day.
But on Wednesday, OPEC cut its forecast for demand growth this year by between 460,000 barrels per day and 2.64 million barrels per day, citing the return of measures to contain the Corona virus in China and high inflation.
The US Department of Energy also lowered its forecast for both US production and demand, and is now seeing a just 0.9% increase in US consumption in 2023, down from the previous forecast for a 1.7% rise.
US crude oil inventories rose by 7.1 million barrels for the week ending October 7, according to data from the American Petroleum Institute.
The energy market is also under pressure from the US dollar, which has rebounded broadly, including against lower-yielding currencies such as the yen.
The Fed's commitment to continue raising interest rates to stem high inflation has increased yields, making the US currency more attractive to foreign investors.
Iraq And The Philippines Discuss Signing A Number Of Agreements And Memoranda Of Understanding, Foremost Of Which Is The Agreement On Avoidance Of Double Taxation
Thursday 13 October 2022 16:48 | Economic Number of readings: 83
Baghdad / NINA / - Iraq and the Philippines discussed signing a number of agreements and memoranda of understanding, foremost of which is the agreement to avoid double taxation.
A statement by the Ministry of Foreign Affairs stated that the Chargé d'Affairs for Iraq in Manila, Bashar Saleh Ibrahim, met the Philippine Assistant Foreign Minister for Middle East and African Affairs, Alfonso Ferdinand Feer, and discussed with him a number of issues and files of common interest, as well as ways to enhance bilateral relations between the two friendly countries.
By signing a number of agreements and memoranda of understanding, foremost of which is the agreement to “avoid double taxation and prevent tax evasion,” which would positively affect economic and trade growth between the two countries. And how to activate it, in addition to the file of Filipino workers in Iraq.”
For his part, the Philippine Assistant Foreign Minister confirmed that he will communicate with the competent authorities in the Philippine government and coordinate with them to activate the files that have been touched upon, and inform the Iraqi side. https://ninanews.com/Website/News/Details?key=1007337
Washington Condemns The Bombing Of Al-Khadra And Extends An Invitation To The Iraqis
Political | 01:00 - 10/13/2022 Baghdad - Mawazine News The US Ambassador to Iraq, Alina Romansky, condemned on Thursday the missile attack that targeted the Green Zone today, calling on Iraqis to find solutions to their political differences and to achieve their demands through peaceful means only. https://www.mawazin.net/Details.aspx?jimare=208128
To read more current and reliable Iraqi news please visit BondLady’s Corner: