"Tidbits From TNT" Monday Morning 9-27-2021

TNT:

Tishwash:  The Iraqi Stock Exchange announces the suspension of its activity for one day

The Iraq Stock Exchange announced, on Monday, the suspension of its activity for one day only.

The market administration said in a statement received by Mawazine News, a copy of it, that "based on the decision of the Council of Ministers to declare an official holiday tomorrow, Tuesday, due to the presence of a religious occasion, the market will not organize trading sessions for tomorrow."

And she added, "The practice of activity will resume after the official holiday and starting next Wednesday, according to its official timings."   link

Tishwash:   Oil prices are close to $80

On Monday, oil prices continued to rise for the fifth consecutive day, with Brent crude heading to $ 80, amid concerns about supplies, as parts of the world are witnessing an increase in demand with the easing of epidemic conditions.

Brent crude rose $1,024, or 1.31 percent, to $79.11 a barrel. 
US oil rose 0.97 dollars, or 1.30 percent, to 74.98 dollars a barrel, its highest level since July, after rising for the fifth consecutive week last week.

Oil industry specialists said that the continued tight supply has led to dependence on stocks in all regions, and the rise in gas prices also helps push oil up as the liquid becomes relatively cheaper for power generation.  link

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Tishwash:  An expert talks about a relationship between the “construction” bonds offered by the Central Bank of Iraq and the dinar exchange rate

The economist, Nabil Al-Marsoumi, commented, on Monday, regarding the Central Bank’s initiative to offer “construction” bonds, while talking about the relationship between it and the Iraqi dinar exchange rate.  

  Al-Marsoumi said in a clarification followed by “Nass” (September 27, 2021), that “the Central Bank announced the issuance of bonds of two categories, the first with an interest rate of 6% with a two-year term, and the second with an interest of 7% with a term of 4 years.”  

He explained, "In order for the interest rates on these bonds to be real and positive for the buyer of these bonds, the Central Bank of Iraq must pledge not to reduce the Iraqi dinar exchange rate again during the next four years!!".  

  And the Central Bank announced, earlier, the offering of “Binaa” bonds in denominations of 500 thousand dinars and one million dinars.   

And the bank stated in a statement that “Nass” received a copy of it (September 26, 2021) that “in continuation of the role of the Central Bank of Iraq in developing the local financial market and mobilizing savings, the Central Bank offered the first issuance of (construction) bonds of two categories (500,000) dinars (five hundred thousand dinars). ) with annual interest (6%) for two years, and (1,000,000) dinars (one million dinars) with annual interest (7%) for four years.    

He added that "buying these bonds will be through authorized banks, which receive purchase requests from those who wish to do so and deliver them a receipt for the amounts of purchasing these bonds, as the central bank issues them and delivers them to the banks within a short period." link  

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Cutebwoy:  Iraqi President: We were the arena of a regional and international struggle with our money and our lives

Shafaq News / The Iraqi President, Barham Salih, considered, on Sunday, that Iraq was an arena for regional and international conflict with the money and lives of Iraqis, and this situation must be ended, while referring to the region’s need for a neighborly dialogue instead of a rupture.

Saleh said, in an interview with the American “CNN” channel, that “a secure and stable Iraq with full sovereignty can be an arena for the convergence of economic interests, infrastructure, railways, and gas and oil pipelines, between the actors in the region from Iran, Turkey and the Arabs.”

He explained that “the population of Iraq is now 40 million, and in 2050 it will be about 80 million, and the same is true with all countries in the region that are witnessing an increase in population, and these countries may not be able to find jobs for future generations if the current dynamic of conflicts in the region continues.” This also applies to Iran, Jordan and Egypt.

He noted that “the region is in dire need of cooperation and work on plans to build infrastructure, expand and integrate the economies of countries, combat climate change, and work to meet the population’s requirements for jobs, quality education and better health care,” adding, “We cannot wait until others solve this for us.” We have to work on it ourselves.”

Saleh added, “Our region needs dialogue, we are neighbors and we must engage in dialogue despite differences instead of a state of estrangement, and we are more optimistic than ever about turning the page on crises and disputes in the region.”

“The region is facing major problems, and while we focus on terrorism and extremism, we must realize the upcoming challenges related to the economic situation,” he added.

Regarding the situation in Afghanistan, the Iraqi president pointed out that “the lesson that took place after the events of Afghanistan and 20 years of American presence, gives the impression that no matter how much international support is, without the support of good governance, success and salvation cannot be achieved.”

However, “corruption is also an obstacle to good governance, security and stability, and that good governance must be at the heart of any international support in any region of the world.

Iraqi President: We were the arena of a regional and international struggle with our money and our lives

Mot:  --- Remaining Positive in me Fitness Quest!! ~~~