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CandyKisses:  Oil prices rise after China moves to prop up struggling economy

Baghdad - NAS  

Oil prices rose on Monday in line with a rally in stock markets, after China took steps to support its struggling economy, although investors remain concerned about the pace of growth as well as rising U.S. interest rates that could dampen fuel demand.      

By 0049 GMT, Brent crude was up 22 cents, or 0.3 percent, at $84.70 a barrel, while U.S. West Texas Intermediate crude was at $80.08 a barrel, up 25 cents, or 0.3 percent.  

Tony Sycamore, an analyst at IG Markets, said oil benefited from positive signs at the opening after China halved stamp duty on stock trading from Monday in the latest attempt to boost struggling markets.  

"Unfortunately, after the modest rate cut (issued by China's central bank) last week, the above announcements are another gradual measure that will not change investors' pessimism towards China," he said.  

Sycamore said China's manufacturing PMI, due later this week, was likely to reveal more gloomy economic news for the world's second-largest economy. He added that the PMI is likely to remain in contraction territory for the fifth consecutive month.  

CMC Markets analyst Tina Teng said the scenario of a soft fall for the U.S. economy boosted energy markets on Monday despite the Federal Reserve's insistence on continuing to raise interest rates.  

Brent and WTI posted losses for a second week on Friday, after Federal Reserve Chairman Jerome Powell said the U.S. central bank may need to raise interest rates further to calm inflation, which remains very high.  

However, oil prices remained above $80 per barrel supported by lower oil inventories and supply cuts from the OPEC+ group of oil producers.  

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CandyKisses:  Parliamentary Finance reveals the most important thing that was agreed upon while hosting the Governor of the Central Bank

Baghdad- Mawazine 

The head of the Parliamentary Finance Committee, Atwan Al-Atwani, revealed today, Sunday, the most important thing that was agreed upon during the committee’s hosting of the Governor of the Central Bank, Ali Al-Alaq, while indicating his assertion that the stability of the exchange rate takes place with the commitment to purchase from the government platform.

Al-Atwani said to the official agency, followed by Mawazine News, that "it was agreed during the hosting to form a joint committee from the Finance Committee and the competent staff at the Central Bank to study the revival and support of the housing loan initiative and ensure the permanence and continuity of its financing in a way that enhances economic stability and achieves sustainable development."

He added, "The governor of the central bank affirmed his efforts to reach a state of stability in the exchange rates of the dollar by committing to buying from the government platform."
The Parliamentary Finance Committee confirmed in a statement issued by it that it discussed with Al-Alaq the Central Bank’s initiative to grant citizens loans to solve the housing crisis, as well as the exchange rate file.

The statement said, "Al-Atwani praised during the hosting the role of the Central Bank in financing loans related to solving the housing crisis in the country, with the aim of facilitating the investment sector, economic movement and employment," noting that "the suspension of the initiative affects the economic aspect and job opportunities, with the increasing need for housing units, Which requires conducting a feasibility study to reach an appropriate formula that meets the citizen's needs.

The statement quoted Al-Alaq as explaining the reasons that led to the suspension of the initiative, adding that “money has been allocated to the Real Estate Bank and the Housing Fund with the aim of achieving economic activity and launching the initiative,” while he indicated that “the bank deals with the file with an in-depth study in order to control the monetary mass in accordance with the policy.” Finance, stressing the need to increase capital and support the Central Bank to continue the initiatives.

According to the statement, hosting discussed the issue of the exchange rate of the dinar against the dollar, as well as tax procedures on products imported through the ports. 

https://www.mawazin.net/Details.aspx?jimare=233983

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Tishwash:  Disclosure of an application that includes the world's wealthy

A press report revealed, on Sunday, that there is an application on smartphones dedicated to the world's richest people, with an annual subscription price of $30,000.

And the American New York Post reported that the supervisors of the application gave its correspondent the opportunity to view this application, which is characterized by confidentiality and exclusiveness.

She explained that the reporter obtained information that the name of the application is “Myria” and all those on the application are successful and have a global influence, according to its designer, Ray Flemings, and the average wealth of subscribers to the application is $ 600 million.

According to the newspaper, the application currently serves less than 100 people, and a number of them belong to Silicon Valley, the prominent technology industry region in the United States.

There is a waiting list of 500 people, with hopes that the number of subscribers to the app will rise to 1,000 by the end of 2024.

The American newspaper drew attention to the presence of celebrities, sports stars, and others, noting that the idea of ​​​​the application is simple, which is to allow the wealthy to communicate with everyone they desire, out of sight and completely confidential.

The application also allows the rich to obtain tickets to important matches and the most popular parties, such as the Oscars, and the application appears to be the solution to obtaining impossible tickets.    link

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