Iraqi News Wednesday AM 7-28-21
Iraqi News Wednesday AM 7-28-21
TLM724 Administrator BondLady’s Corner
A Decrease In The Central Bank's Sales Of Hard Currency
Economie| 02:29 - 07/28/2021 Baghdad - Mawazine News, the sales of the Central Bank of Iraq decreased, on Wednesday, in hard currency, to reach more than 174 million dollars.
Today, the Central Bank of Egypt witnessed a decrease in its sales by 18.69%, to reach 174 million and 815,000 US dollars, compared to yesterday, Tuesday, when sales amounted to 214 million and 570 thousand and 530 dollars. The purchases amounting to 163 million and 495 thousand dollars went to strengthening balances abroad in the form of remittances and credits, while the remaining amount of 11 million and 320 thousand dollars went in cash. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=161964
A Slight Decrease In The Exchange Rates Of The Dollar In The Local Markets
Economie| 11:05 - 07/28/2021 Baghdad - Mawazine News The dollar exchange rates fell, on Wednesday, slightly in the main stock exchange and local markets in the capital, Baghdad.
Today, the Central Kifah Stock Exchange in Baghdad recorded 147,700 dinars, for each $100 bill.
And the prices of buying and selling dollars have stabilized in exchange offices and local markets in Baghdad, where the selling price amounted to 148,250 dinars for each paper denomination of 100 dollars, while the purchase prices amounted to 147,250 dinars for each paper denomination of 100 dollars. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=161942
Oil Prices Rise, Brent Touches $74 A Barrel
Economie| 08:46 - 07/28/2021 Follow-up - Mawazine News: Oil prices recorded, on Wednesday, a significant jump after industrial data showed that stocks of crude and American products fell more sharply than expected last week. Brent crude futures rose 30 cents, or 0.39 percent, to $73.81 a barrel.
US West Texas Intermediate crude futures rose 38 cents, or 0.53 percent, to $72.03 a barrel.
Data from the American Petroleum Institute Industry Group showed that US crude stocks fell by 4.7 million barrels for the week ending, gasoline stocks decreased by 6.2 million barrels, and distillate stocks decreased by 1.9 million barrels. https://www.mawazin.net/Details.aspx?jimare=161931
Parliamentary Integrity Of / Nina /: This Is What Happened Regarding The Questioning Of The Minister Of Finance In The House Of Representatives
Wednesday 28 July 2021 17:38 | political Number of readings: 222 Baghdad / NINA / - The Parliamentary Integrity Committee revealed the details of what happened regarding the questioning of Finance Minister Ali Allawi, which the Presidency of the House of Representatives had decided to remove from the agenda of the session held in mid-July.
Member of the committee, Representative Yousef Al-Kalabi, said, in a statement to the National Iraqi News Agency ( NINA ), that "technical reasons called for the lifting of the questioning paragraph of the Minister of Finance from the parliament session held on July 13."
Al-Kalabi, the questioned deputy, added: "We put pressure on the parliament's presidency to proceed with the interrogation, so the Presidency decided to add it to the agenda of the session at the time, but the parliamentary department did not inform the minister, given that he had been informed of the interrogation from an earlier time," noting that "
" We were contacted again and informed that the minister could not be informed of the date of the new interrogation, so we left room for him to be notified again by coming to the House of Representatives.”
The Presidency of the House of Representatives decided to raise the questioning paragraph of Finance Minister Ali Allawi from the session held on July 13, after agreeing to include it on its agenda.
The Parliamentary Integrity Committee had accused the Parliament Presidency of obstructing the questioning of Finance Minister Ali Allawi, during the session that was scheduled to be held on May 31.
And the Parliamentary Integrity Committee had previously submitted, last February, a formal request to the Presidency of the House of Representatives to include the interrogation of Finance Minister Ali Allawi in the next session at the time, as the Presidency of the House of Representatives set the first session of last March as a date for the interrogation, and then the Presidency announced the postponement of the interrogation at that time due to Presentation of the General Budget Law 2021, which was voted on by the House of Representatives at the end of last March./ Ended 5 https://ninanews.com/Website/News/Details?key=918287
Al-Kazemi: The Doors Of Iraq Are Open To Investment
Prime Minister Mustafa Al-Kazemi during his meeting with the Businessmen Forum and the American Chamber of Commerce
Money and business Economy News – Baghdad Prime Minister Mustafa Al-Kazemi confirmed that Iraq's doors are open to investment, while noting that the Iraqi government has taken bold measures towards real reforms in the economy.
Al-Kazemi said during his meeting with the Businessmen Forum and the American Chamber of Commerce, yesterday, Tuesday, in a statement to his media office and reviewed by "Al-Iqtisad News", that "the Iraqi government has taken bold measures towards real reforms in the economy, the most important of which is strengthening credit activity in the banking sector," noting that "we started By addressing the weak infrastructure, despite the budget deficit, by encouraging private sector investments.
He added, "The government has proposed clean energy projects through competitive and transparent bidding, which resulted in attracting the largest international companies in the field of solar energy, and we are now in negotiations with the largest international companies to grant 7,500 megawatts in the field of solar energy during the next two years."
He pointed out that "the government has begun to address the housing crisis through a package of measures, the most important of which is the initiative of government banks, and a number of private banks to offer low-cost and long-term loans to support the purchase of housing units, and this will also help encourage investment in the real estate sector," stressing that "this initiative helped to activate a number of stalled projects.
He continued, "Corruption is being fought and state resources are preserved, and one of the most important measures is the cancellation of licenses in fake and lagging projects that are behind the mafias of economic and political corruption." And energy, and clean energy in particular, and we have launched strategic projects in the field of gas, and the investment of associated gas, in cooperation with American companies."
He pointed out that "Iraq's doors are open to investment, and American companies in particular, and our vision is serious in relying on Western investments instead of others, and we need your cooperation in order to achieve this." Views 238 Date Added 07/28/2021 https://economy-news.net/content.php?id=25802
Al-Kazemi: We Have Taken Bold Measures Towards Real Reforms.. And The Doors Of Iraq Are Open To Investment
Wednesday 28 July 2021 00:54 | Economic Number of readings: 1355 Baghdad / NINA / - Prime Minister Mustafa Al-Kazemi affirmed: "The Iraqi government has taken bold measures towards real reforms in the economy."
Al-Kazemi said during his meeting with businessmen and owners of companies at the American Chamber of Commerce: "We started to address the weak infrastructure by encouraging private sector investments, and we have achieved great progress in the field of investment, and there is work in the field of oil and energy."
He added: "The doors of Iraq are open to investment, and American companies in particular, and we have launched strategic projects in the investment of associated gas, in cooperation with American companies."
He continued, "Our vision is serious about relying on Western investments instead of others, and we are conducting negotiations with international companies to grant 7,500 megawatts of solar energy during the next two years."/ End https://ninanews.com/Website/News/Details?key=918170
Karbala University discusses the financing gap for banks
Wednesday 28 July 2021 142 Karbala: Ali gesture Karbala University witnessed the discussion of a master's thesis on the financing gap and its impact on the economic value in a sample of commercial banks listed in the Iraq Stock Exchange for the period 2005-2019.
The Director of University Media, Dr. Yahya Obeid Al-Taei, told "Lsabah" that the College of Administration and Economics discussed a master's thesis submitted by the student Suhad Hussein Shiaa Al-Salami, titled (The financing gap and its impact on the economic value of the bank through its financial performance - an analytical study in a sample of commercial banks listed in the market Iraq Stock Exchange for the period 2005-2019).
He added that the thesis aimed to test the impact of the financing gap on the economic value of the bank through financial performance indicators and to shed light on important and influencing variables on banking activities. The assets and liabilities in the bank’s balance sheet, and the consequent impact on the economic value of the bank and how to deal with this type of variables in order to improve the economic value of the bank.
Al-Tai added that the researcher touched on the impact of the change in the economic value of the bank on the total value of the balance sheet, due to the impact of the market value of shares on price changes in the net present value of future cash flows, as she stressed the need for the management of banks to pay attention to the relationship between the financing gap and the economic value of the bank, and that By measuring the liquidity risk and determining the funds that should be invested and the funds retained by the banks’ management to face sudden daily withdrawals.”
He pointed out that it focused on “the need for the bank to follow a good investment policy to invest its surplus funds by managing its liquidity in a way that helps it achieve profits from these invested funds and encourage banks to find new mechanisms and sound ways that enable them to make better use of the deposits available to them in order to achieve profits.” LINK
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