Thursday Morning Iraq Economy News Highlights 1-19-23

“Davos Forum” .. Revealing The Hidden Side Of The Participants

Posted On2023-01-18 By Sotaliraq  The German newspaper "Bild" quoted a prostitute as recording an unprecedented demand for the services of prostitutes from the pioneers of the "Davos" economic forum, where some of them spent 2,300 euros to spend the night in the brothels of prostitutes.

The newspaper's source said, "Some of the participants request wholesale prostitutes for themselves, their escorts, and employees, and they hold promiscuous parties in hotel rooms."

She indicated that it is impossible to enter some hotels due to “the strict control over the security and comfort of the participants in the forum.”

The 53rd meeting of the World Economic Forum (WEF) opened on Monday in Davos, Switzerland, and the paragraphs of the second day of the forum will focus on the Ukraine crisis in the absence of Russia and China.

The Russian Embassy in Switzerland confirmed earlier this month that the Russian delegation would not participate in the activities of the Davos Forum.

According to Bloomberg, about 116 billionaires have registered to attend the Davos 2023 conference, an increase of 40% compared to the previous decade. Americans constitute the largest group of billionaires, as 33 billionaires are scheduled to attend, while only 18 billionaires from Europe will attend.

According to the agency, the rise in the number of billionaires from the Gulf countries has contributed to filling the void, a region that “is enjoying new prosperity thanks to the rise in oil prices and the reputation of the Gulf as an oasis of stability in a region with multiple problems.” LINK

The Iraqi Government Attributes The Rapid Rise In The Dollar And Commodities To Two Reasons And Is Reassured: My Time Will End

2023-01-19 03:52   Shafaq News/ The financial advisor to the Prime Minister, Mazhar Muhammad Salih, described, on Thursday, the rise in the exchange of the dollar against the Iraqi dinar as a "temporary matter", at the same time, attributing the increase in the prices of materials and commodities in the local markets to "speculation and the greed of some traders".

Salih said in an interview with Shafaq News agency, "The electronic platform that the bank recently used to request dollars for foreign remittances came as a shock, but it is temporary because Iraq's hard currency reserves are very large, and it covers trade for more than 20 months, while the international standard is 3 months."

He continued by saying, "The controls regarding the currency auction came based on a popular demand, which is the question of where the money goes ?, which prompted the creation of this platform to find out whether the money really goes to trade and who is the final beneficiary? And do companies really fund Iraq with goods and services?" ?”

Saleh also expressed his surprise at "the ignition of commodity and material prices in this way," describing it as "a kind of greed because all stocks of commodities are imported at an official exchange rate."

He added that "any trader can transfer and buy goods by buying dollars from the Central Bank at the official rate, but what is noted is that the market is exploited, and there are people who speculate and do not care about anyone," noting that "dollar transfers are clean and not based on speculative.”

Saleh also asked that "commodity stocks are currently sufficient for 3-5 years, so why this increase in prices?"

Saleh stressed that "the state is strong and can intervene to provide goods and services, and it is one of the simple things it has, but merchants must take into account the people and the commercial center must not take advantage of the situation, because merchants are still buying dollars at the official price."

The dollar rose against the Iraqi dinar in the parallel markets, reaching more than 163 thousand dinars compared to 100 dollars, after these prices ranged between 147-148 thousand dinars before the establishment of the electronic platform.  LINK

Exceeded 100 Million Dollars.. The Increase In Foreign Remittances In The Currency Auction

2023-01-19 04:33  Shafaq News/ The Central Bank's sales of foreign remittances increased in dollars in an auction today, Thursday, to more than 104 million dollars.

Shafaq News agency reporter stated, "The Central Bank sold today, during its auction for buying and selling the US dollar, 136,124,851 dollars, which the bank covered at a basic exchange rate of 1,460 dinars per dollar.

Our correspondent added that most of the dollar sales went in the form of foreign transfers, amounting to 104,124,851 dollars, while the remaining 32 million dollars went in the form of cash sales.

Our correspondent indicated that the number of banks that bought cash dollars amounted to 9 banks, while the number of banks that responded to requests for strengthening balances abroad reached 13 banks, while the total number of exchange and mediation companies participating in the auction was 75 companies.  LINK

The Central Bank Sells More Than 135 Million Dollars In An Auction Today

Money and business   Economy News-Baghdad  The central bank’s sales of foreign remittances in dollars rose in an auction today, Thursday, to more than $104 million.

According to the statistics of the bank published on its official website, "The central bank sold today, during its auction for buying and selling US dollars, 136 million 124 thousand and 851 dollars, which the bank covered at a basic exchange rate of 1460 dinars per dollar."

And she added, "Most of the dollar sales went in the form of foreign remittances, amounting to 104 million and 124 thousand and 851 dollars, while the rest of 32 million dollars went in the form of cash sales."

And she indicated, "The banks that bought cash dollars amounted to 9 banks, while the number of banks that met requests to strengthen balances abroad reached 13 banks, while the total number of exchange and mediation companies participating in the auction was 75 companies."

Views 2   Added 01/19/2023 - 1:56 PM  Updated 01/19/2023 - 1:56 PM

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Al-Sudani: The Draft Budget Law Took Time For Discussions

2023-01-19 02:51  Shafaq News/ The Prime Minister, Muhammad Shia' Al-Sudani, chaired this morning, Thursday, a meeting dedicated to discussing the final details of the draft federal budget law 2023.

Al-Sudani said during the meeting, according to a statement issued by his media office, that the draft budget law took time for discussions, in order to reach a budget that is consistent with the priorities of the ministerial curriculum, and meets the goals of the government program in fighting poverty and providing basic services to citizens, economic reform, and combating corruption.

He stressed the importance of speeding up the approval of the budget law by the parliament, as it is directly related to many economic and social issues and files, and helps the government implement its programs and strategy in vital fields and sectors, which would provide the best services to citizens. LINK

Al-Sudani Stresses The Importance Of Expediting The Approval Of The Budget Law By The House Of Representatives

Iraq   12:02 - 2023-01-19  Today, Thursday, Prime Minister Muhammad Shia Al-Sudani stressed the importance of expediting the approval of the budget by the House of Representatives.

And the media office of the Prime Minister stated in a statement, "Al-Sudani chaired a meeting devoted to discussing the final details of the draft federal budget law 2023."

The Prime Minister stated, "The draft budget law took time from discussions, in order to reach a budget that is consistent with the priorities of the ministerial curriculum, and meets the objectives of the government program in fighting poverty and providing basic services to citizens, economic reform, and combating corruption."

He pointed out, "The importance of expediting the approval of the budget law by the parliament, because it is directly related to many economic and social issues and files, and helps the government implement its programs and strategy in vital fields and sectors, which would provide the best services to citizens."   https://kirkuktv.net/AR/Details/12564