Iraqi News Wednesday AM 11-16-21
Iraqi News Wednesday AM 11-16-21
TLM724 Administrator BondLady’s Corner
A Financial Official Determines The Possibility Of Changing The Dollar Exchange Rate In Next Year's Budget
Economie| 06:50 - 16/11/2021 Special - Al-Mawazine News, the (former) Director of the Financial Supervision Bureau, Salah Nuri, has determined, on Tuesday, the possibility of restoring and considering the previous dollar exchange rate.
Nuri said in an interview with "Mawazine News" that "according to our information, the general budget for the next year is not much different from the budgets of previous years, in terms of financial allocations and disbursement, as they will be followed by the same mechanism, and that the method of preparing it and the financial and spending ceiling is similar."
He added, "There is a possibility to reconsider the dollar exchange rate gradually, and that the return will not be in the same way it was changed," noting that "the exchange rate remains on its status in the 2022 budget."
He pointed out, "The rise in the exchange rates of the dollar greatly affected the living situation of citizens, and that the benefit was obtained only for the Ministry of Finance by increasing its financial liquidity and disbursing salaries without the need to borrow."
He pointed out that "the currently approved exchange rate reduced the ability of the Iraqi citizen (the employee) to purchase by 48%, while the fragile classes were the most affected." Ended 29 / h
https://www.mawazin.net/Details.aspx?jimare=175238
The Central Bank Of Hard Currency Sales Recorded More Than 200 Million Dollars
Economie| 02:03 - 17/11/2021 Baghdad - Mawazine News, the Central Bank of hard currency sales rose today, Wednesday, while foreign remittances from the dollar recorded more than 138 million dollars.
And the Central Bank auction for the sale and purchase of foreign currencies witnessed an increase in its sales by 1.01% to reach 200 million, and 535 thousand and 642 dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar.
The purchases amounting to 138 million, 225 thousand and 642 dollars went to enhance balances abroad in the form of remittances and credits, while the remaining amount of 62 million and 310 thousand dollars went in cash.
Also, 24 banks fulfilled requests to enhance balances abroad, 19 banks to meet cash requests, in addition to 273 mediation companies. https://www.mawazin.net/Details.aspx?jimare=175334
Find Out The Dollar Exchange Rates In The Local Markets For Today
Economie| 10:33 - 17/11/2021 Baghdad - Mawazine News, the dollar exchange rates decreased slightly on the main stock exchange and local markets in the capital, Baghdad, on Wednesday.
The dollar exchange rate fell on the Central Kifah Stock Exchange in Baghdad today, recording 148,050 dinars, for each $100 bill.
And the prices of buying and selling the dollar have stabilized in banking companies and local markets in Baghdad, where the selling price reached 148,500 dinars, for each paper denomination of 100 dollars, while the purchase prices amounted to 147,500 dinars for each paper denomination of 100 dollars. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=175305
The Central Bank Of Iraq Celebrates Its Seventy-Fourth Anniversary
Central Bank Governor Mustafa Ghalib
Banks Economy News _ Baghdad The Central Bank of Iraq celebrated the 74th anniversary of its founding and the completion of concrete works for the new Central Bank building in Baghdad.
The ceremony was attended by the former central bank governors Ali Al-Alaq, Abdul Basit Turki, the head of the National Investment Commission, Dr. Suha Al-Najjar, the head of the Iraqi Private Banks Association, Wadih Al-Handal, and a number of heads of bank boards.
The Governor of the Central Bank, Mustafa Ghaleb, said during his speech at the ceremony, that we celebrate today the anniversary of the founding of the Central Bank of Iraq, which was established in the year 1947 AD and is considered one of the oldest and most pioneering institutions in the region, which has been established for seventy-four years, during which great national efforts joined forces in serving the Iraqi national economy from Through commitment to a monetary policy based on national and moral responsibility, in coordination and continuous cooperation with the relevant state institutions despite all challenges.
He added that he is the best witness to the great effort of the Central Bank of Iraq, those development initiatives that it launched in the sectors of housing, industry, trade and agriculture, which brought about a turning point in the lives of millions and created job opportunities for many of the unemployed and victims of the exceptional conditions that our country went through.
He explained that the founding anniversary coincided with the completion of concrete works for the new Central Bank building, which is the largest building in Iraq designed by an Iraqi woman who rose to the throne of global architectural design and created unique architectural masterpieces in several countries, and our building will be another masterpiece recorded for this woman and a national pride for us and everyone who worked in this The project is for all Iraqis.
He pointed out that it is not possible to talk about this great achievement without going back to the origin of the story and the details of the event, as the first step was a decision by the Governor of the Central Bank at the time, Dr. Their choice was to go to the architect Zaha Hadid, who set out with her amazing design to plan the most beautiful and wonderful architectural and engineering arts, and then this building was born and our Azerbaijani friends and those with them from our Turkish friends and their helpers from other nationalities began to work with the determination of the Iraqis, connecting night and day to mix their experiences and efforts in this place.
He pointed out that the successive departments of the Bank have been keen since then to complete the phases of this project to be in the most beautiful form, as the height of the building reaches 173 meters and the construction area is 100,000 square meters, in which three thousand tons of iron have been placed, and its life is one hundred years, and it works with more than 1500 people from inside and outside Iraq.
And between Ghaleb, the material and human resources have combined to make a unique achievement in our dear Baghdad, and a promising transition has been established in the architectural culture and an invitation to invest in our beloved Iraq. The functions of the building will be like its boldness and its effects in imparting beauty to the public taste of the community.
It is considered one of the landmarks of value and significance that humanity inherited to its ancestors and be proud It has generations after us as we are proud of today, and in conclusion, I extend my thanks and gratitude on behalf of myself and all the Central Bank employees and those working in this project to all those present who shared the joy with us on these two occasions.
For his part, the former Central Bank Governor, Dr. Sinan Al-Shabibi, confirmed in his message to the celebration, that this wonderful edifice, which I had the honor to present and adopt, is an authentic Iraqi edifice, an idea and a design. And she told me that she would fulfill her desire to leave an imprint for her in her mother country, Iraq.
Finally, I would like to extend my thanks and appreciation for the efforts made and made by the current Central Bank administration, headed by the Governor of the Central Bank of Iraq, to complete this great project. Views 84 Date Added 11/17/2021 https://economy-news.net/content.php?id=26802
Oil Prices Drop To $80 Per Barrel
Wednesday 17 November 2021 09:51 | economic Number of readings: 274 Baghdad / NINA / - Oil prices fell today, Wednesday, after US gasoline stocks fell more than expected last week, which may increase pressure on the Biden administration to release oil from emergency reserves to curb the rise in gasoline prices.
US West Texas Intermediate crude futures fell 62 cents, or 0.77 percent, to $80.13 a barrel at dawn today, Wednesday, to continue losing 12 percent from Tuesday.
Brent crude futures fell 76 cents, or 0.82 percent, to $82.76, reversing a 38 percent gain from Tuesday.
https://ninanews.com/Website/News/Details?key=939535
Oil For / NINA /: We Are Negotiating With International Companies To Explore Oil And Gas Fields In Iraq
Wednesday 17 November 2021 16:45 | economic Number of readings: 136 Baghdad / NINA / - The Ministry of Oil disclosed its new projects to explore oil and gas fields in Iraq in cooperation with international companies.
Oil Minister Ihsan Abdul-Jabbar Ismail said, in a statement to the National Iraqi News Agency ( NINA ), that "the exploratory work of the Ministry of Oil and the National Oil Company is progressing at an effective pace, and we have great partners and we aspire to good increases in proven oil and gas stocks."
He added, "We are currently engaged in an in-depth discussion with other international companies in the field of partnership and exploration of oil production in the Western Desert in Anbar."
He continued, "We have the 12th patch with the Russian Bash Oil Company, which is currently in the works. We also have dealings with the American company, Chevron, about a group of patches in Nasiriyah, whose indicators predict the arrival of high oil quantities, and we have new work by the Oil Exploration Company in the provinces." The Western Desert, west of Anbar, where there are 4 blocks under exploration work under the management of two working teams from the K Oil Exploration Company, and they will be strengthened to four technical teams soon.”
The minister pointed out: "The results of the exploration from the Arido field in Dhi Qar governorate are very good, as the Russian company requested an extension of the work period to obtain larger reserves."/ https://ninanews.com/Website/News/Details?key=939644
Syria And Iraq Discuss Developing Relations In The Industrial And Investment Fields
Wednesday 17 November 2021 13:06 | economic Number of readings: 393 Baghdad / NINA / - The Ambassador of Syria to Iraq, Sattam Jadaan Al-Dandah, discussed with the head of the Iraqi Federation of Industries, Adel Akab, ways to develop bilateral relations between the two countries in the industrial and investment fields.
During their meeting at the headquarters of the Iraqi Federation of Industries in Baghdad, the two sides noted the great development witnessed by the rate of growth of bilateral cooperation between the two countries at various levels, stressing the desire of the two brotherly countries to advance relations to higher levels.
In a statement to the Syrian news agency "SANA", Ambassador Al-Dandah indicated that "the meeting discussed the new Syrian investment law and discussed ways to establish industrial investment projects in the two countries, in a way that enhances the investment of their material and scientific resources and their economic capabilities."
He said that the two sides discussed the possibility of holding a conference for Iraqi and Syrian industrialists in Damascus to develop a work map that meets the two sides' desire to enhance economic cooperation and establish integrated industrial projects./ End https://ninanews.com/Website/News/Details?key=939589
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