"Tidbits From TNT" Friday Morning 9-24-2021
TNT:
Tishwash: Al-Hashemi calls on the government to focus on the digital economy
The Deputy Executive Director of the Association of Iraqi Private Banks, Ahmed Al-Hashemi, called on the government to focus on the digital economy during the current years to make Iraq keep pace with the development taking place in the world.
Al-Hashemi said in a statement seen by "Al-Iqtisad News", that "Iraq needs to give the private sector the appropriate environment to transition to digital transformation, as the revolution in information and communications is currently similar to what the world witnessed in the industrial revolution that occurred in 1760," noting that "the legislative authority The future needs to focus on supporting the digital economy through appropriate legislation.”
Al-Hashemi pointed out that the world is witnessing great leaps in technological development, as the transactions of companies and citizens are completed via the Internet without any review, while Iraq is still adopting the primary mechanisms that increase financial and administrative corruption and contribute to the delay in completing the transaction in terms of time.
Al-Hashemi praised the government’s tendency to establish a youth support fund with an amount of 30 billion dinars, which supports technical projects, which contributes to the development of the Iraqi economy and makes young people go towards pioneering projects, pointing out that the private banking sector has begun to publish electronic payment tools in all the country, and requires Shop owners need to use a Pos device to organize the buying and selling process, reduce theft, waste, and more. link
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Jer39prov8: I am just really EXCITED to see Iraq being removed from the sanctions list of the U.N. after Saleh’s recent visit and speech! With trade and ports officially off of sanctions they are free to trade internationally unless I’m missing something. That would mean they HAVE to have a revalued exchange rate to compete with prices & trade internationally, right? I’m excited again for the first time in almost a decade!
I copied one of the articles from Facebook but it’s all there in black and white!
https://www.un.org/press/en/2021/sc14642.doc.htm
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Tishwash: Oil prices rise for the fourth day in a row due to the scarcity of global stocks
Oil prices continued to rise for the fourth consecutive day, due to concerns related to global supply.
Reuters reported that by this morning, Brent crude rose 12 cents, or 0.2 percent, to $ 77.37 a barrel, after reaching its highest level since July and closing at its highest level since October 2018.
The price of US oil also rose 6 cents, or 0.1 percent. to $73.36 a barrel, after closing up 1.5 percent in the previous session, its highest level since the beginning of August.
According to experts, this comes after the increasing talk about the scarcity of global stocks, in addition to fears of supply problems with the approach of the winter season link
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Tishwash: Iraq's foreign exchange reserves increased by 14%
The Central Bank of Iraq announced, on Thursday, September 23, 2021, a new increase in the . bank's foreign currency reserves
The Deputy Governor of the Central Bank, Ihsan Shamran Al-Yasiri, said in a press statement that the “Obelisk” followed that the foreign reserves of the Central Bank of Iraq witnessed an increase of 14% compared to what . they were on 31/12/2020
Al-Yasiri added: It was worth $54.501 billion, to reach on 9/22/2021 (yesterday), to $62.155 billion, an increase of . $7.654 billion
And Prime Minister Mustafa Al-Kazemi announced, earlier, that the central bank’s foreign currency reserves had . risen to more than $60 billion
Al-Kazemi said, in a statement received by The Obelisk, that the central bank’s foreign currency reserves rose to . more than 60 billion dollars, after it was 51.9 billion before the start of the reform measures for this government link
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