More Iraqi News Sunday PM 6-13-21
More Iraqi News Sunday PM 6-13-21
TLM724 Administrator BondLady’s Corner
The Dollar Is Falling Globally And Rising In Iraq
Fahad Al-Jubouri120 2021-06-13 Economies recover globally and stagnate in Iraq Oil is rising globally, and the prices of goods and services are rising in Iraq
Economists published a list of the latest exchange rates for the dollar in the Iraqi Stock Exchange and exchange offices yesterday, Saturday. The dollar recorded a slight increase compared to the previous hours, as follows:
The exchange price (approximate) 149,500 The purchase price 150,500 The selling price Basra / Bursa 150,200 Mosul / Bursa 150,400 On Friday, the price of Brent crude oil crossed the level of $73 per barrel, for the first time in more than two years. The level of 73.09 dollars per barrel.
This is the first time that the price of Brent crude has exceeded the level of $73 a barrel since May 20, 2019.
The July futures contract for West Texas Intermediate (WTI) crude rose by 1.1% to reach $71.06 a barrel, exceeding the $73 point for the first time since October 15, 2018.
Gold prices witnessed, on Friday, a rise above 1900 dollars an ounce, supported by the decline of the dollar and the decline in US Treasury bond yields.
And gold rose in spot transactions 0.1 percent to $ 1900.10 an ounce, by 05:18 GMT. Prices have increased more than 0.5% since the beginning of the week. US gold futures rose 0.3% to $1,902.7 an ounce.
Data revealed that US consumer prices rose strongly in May 2021, which led to the largest annual increase in nearly 13 years, while weekly jobless claims fell to their lowest levels in nearly 15 months last week.
The benchmark US Treasury yields fell to their lowest level in three months, reducing the opportunity cost of holding the yellow metal, which does not yield a return.
Meanwhile, the dollar index fell 0.1%, after hitting its highest level in nearly a week in the previous session.
On Thursday, the European Central Bank kept its monetary policy unchanged and pledged a regular flow of stimulus during the summer.
Attention now turns to the US Central Bank's policy meeting, scheduled for June 15-16, 2021.
As for other precious metals, silver rose 0.4% to $28.07 per ounce, while platinum gained 0.1% to $1151.98.
And palladium fell 0.1% to $ 2772.71, and is on the path of recording a weekly decline.
http://burathanews.com/arabic/economic/394295
Iraq Clarifies Its Position On The Increase In Demand For Oil And Announces The Possibility Of Producing 5 Million Barrels
political| 04:52 - 06/13/2021 Baghdad - Mawazine News The Ministry of Oil confirmed, on Sunday, Iraq's ability to deal with any increase in demand for oil in global markets, while indicating the possibility of producing 5 million barrels per day.
A spokesman for the Ministry of Oil, Assem Jihad, said, according to the official media, that "Iraq is among the organizing countries for the OPEC + agreement, which was formed from the oil-exporting countries of OPEC and producers outside OPEC,"
noting that "the organization always meets and reviews developments in the oil market and in the light of it is doing the right deal." With the requirements of the global market in a way that achieves the required balance so as not to affect the stability of the global oil market and achieve balance, and this is the goal of the producers.”
He added, "The expectations from the International Energy Organization or others come as a result of developments in the process of addressing the Corona pandemic, which has promoted vaccination with vaccines on a large scale, creating positive conditions for transport movement, and gradually returning life to normal requires some time."
He pointed out that "Iraq is among the countries that will increase its quotas in the event of launching an increase in quotas, because there is a non-mandatory, but moral agreement between the producing countries," stressing that "this commitment has achieved its goals to confront the complete stagnation in the global economy as a result of the Corona pandemic, and it was made in agreement and collective solidarity between OPEC And producers from outside it, and this led to rebalancing and returning prices to a good position after the price of a barrel fell to 10 dollars.”
And Jihad indicated that "proper handling through a gradual and realistic reduction in production and realistic dealing with the oil market has led to good results, and therefore the organization or producers outside OPEC will remain watching the oil market and dealing with its developments and the balance between supply and demand," stressing that "Iraq has available capacity of up to five million. barrel, but due to production restrictions and the OPEC + agreement, it is currently producing around four million barrels.”
He explained that "any increases approved by OPEC or non-OPEC producers are made after meetings and study because decisions are made according to a study of the oil market and what research centers provide to OPEC and in the light of realistic studies, and from here come the right decisions that bring positive results."
He pointed out that "the oil market is subjected to tremors and crises and is affected by circumstances beyond its control," noting that "any current or future change will be in cooperation with the producers because the decision has become collective and takes into account the interest of all, and the evidence is that the oil market was saved from the crisis that swept the world."
And he indicated that "Iraq is working with other producing parties to stabilize the oil markets, and it has available energy and therefore deals with the changes that occur in the event of an increase in demand so as not to affect the oil market," noting that "the oil market is unstable in the long term and Iraq is ready for any gradual changes." Ended 29/A 43 https://www.mawazin.net/Details.aspx?jimare=156846
Allawi discusses the implementation of the items of the projects that came in the (white paper)
Time: 06/13/2021 16:15:37 Reading: 741 times
{Economist: Al-Furat News} Minister of Finance, Ali Abdul-Amir Allawi, chaired, on Sunday, a meeting of the opinion board to discuss the implementation of the provisions of the projects that came in the (white paper).
And the ministerial statement, which {Euphrates News} received a copy of, stated, “The meeting discussed, in the presence of the Prime Minister’s advisor, Alaa Al-Saadi, the Undersecretary, the Ministry’s advisors, and the general managers of the Ministry, a number of paragraphs, on top of which was discussing the implementation of the items of the projects that came in the financial and economic reform plan (paper Al-Bayda) and follow-up to the extent of the commitment of the implementing agencies to the projects listed in the framework of the executive plan of the paper.
The meeting also discussed a number of issues and procedures related to the work of the ministry’s departments and bodies and taking appropriate decisions in this regard.
During the meeting, Allawi stressed, "the necessity of proceeding according to the prescribed path and within the specific timings and schedules approved by the reform paper, and the concerted efforts of the ministries along with the private sector and coordination with all parties and supporting parties to ensure the full achievement of the goals and projects."
While Allawi stressed "to find appropriate solutions towards overcoming all difficulties that impede the implementation of plans and projects with the aim of accelerating the achievement of the goals of the white paper aimed at correcting the national economic path and achieving sustainable and comprehensive economic development." LINK
Sunday.. Central Bank Sales Of Hard Currency Continue To Rise
Economie| 12:59 - 13/06/2021 Baghdad - Mawazine News The Central Bank of Iraq's sales of hard currency continued to rise, on Sunday, to record more than 200 million dollars.
And the Central Bank’s sales of hard currency, during the auction of buying and selling the dollar, rose today, by 3.81%, to reach 218 million and 422 thousand and 159 dollars, covered by a base exchange rate of 1460 dinars per dollar.
And the daily bulletin of the Central Bank auction stated, "The purchases amounting to 192 million and 92 thousand and 159 dollars went to strengthen balances abroad in the form of remittances and credits, while the remaining amount of 26 million and 350 thousand dollars went in cash."
34 banks responded to requests to enhance balances abroad, and 18 banks to meet cash requests, in addition to the participation of 12 exchange companies. https://www.mawazin.net/Details.aspx?jimare=156798
Jamal Cougar: Oil Price Differences Will Boost The Bank Reserves
Sunday 13 June 2021 09:48 | Economic Number of readings: 536 Baghdad / NINA / - Member of Parliamentary Finance Committee Jamal Cougar stressed the importance of taking advantage of oil price differences to improve the financial and economic reality in the country.
He told the National Iraqi News Agency ( NINA ) that: This year's budget was built on the price of 45 dollars, and now the price of a barrel of oil is close to 70 dollars, and this difference in prices is important in improving the country's situation.
Cougar added that: oil price differences will enhance the bank's foreign exchange reserves, in addition to greatly reducing the budget deficit. The price of Basra oil recorded a noticeable increase in the recent period, exceeding $70 per barrel. / https://ninanews.com/Website/News/Details?Key=909632
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