"Tidbits From TNT" Sunday 12-11-2022
TNT
CandyKisses: A new decrease in the exchange rate of the dollar against the Iraqi dinar in Baghdad.. today
The Independent/- The exchange rates of the dollar fell today, Sunday, in the local markets.
The selling price of the dollar was 150,100 dinars per 100 dollars, while the buying price of the dollar was 150,000 dinars per 100 dollars.
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying a dollar from the Ministry of Finance reached 1450 dinars, while the price of selling it to banks was set at (1460) dinars per dollar, while the selling price to the citizen is (1470). dinars for every dollar.
CandyKisses: Economist: There is no point in employing thousands without improving the economy
Baghdad / NINA / - The consultant in economic development and investment, Amer Al-Jawahiri, confirmed that there is no benefit in employing thousands without improving the economy.
He told the National Iraqi News Agency (NINA) that what is important for successive governments is to satisfy tens of thousands of graduates and others with job degrees without real benefit.
Al-Jawahiri added that the food security law relates to the current year only, and next year has its own budget for investment projects that are supposed to have a significant impact on the country's progress and improving the economy with additional revenues.
He explained that granting job degrees will satisfy a few tens of thousands, but it will not benefit millions in the future as long as governments want to satisfy these people by paying them money without providing jobs and improving the economy.
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The Iraqi Trade Bank announces the recovery of one trillion and 500 billion dinars
The Iraqi Trade Bank announced today, Sunday, the recovery of one trillion and 500 billion dinars, while confirming that there are no loans for fake projects.
A statement of the bank, received by the Iraqi News Agency (INA), stated, "The Iraqi Trade Bank, TBI, represents the gateway to communication with the world for the implementation of documentary credits, the issuance of letters of guarantee and foreign transfers with financial institutions with the countries of the whole world, and that these banking operations are carried out for the government and private sectors."
He explained that he "enjoys great confidence from international banks through banking financial relations by opening accounts for the bank with those correspondent banks, which number 420 correspondent banks around the world," indicating that he "publishes, with full transparency, on its official website, all financial statements audited by One of the four major specialized companies around the world, in which all the financial details of the bank are clarified, including the amounts of lag loans.
Regarding what was published on one of the satellite channels, the statement explained, "The total amount of the bank's lag loans is inaccurate because there are financial settlements concluded with the bank's customers, and they are continuing to pay the loan amounts and their interests without delay."
He stressed, "There are no loans for fictitious projects, according to what has been mentioned, but there are a number of previous loans to customers of unknown place of residence, which were made during the era of the previous administrations of the bank, and who could not be notified at the addresses registered with the bank, which forced the administration to take legal measures against them by informing them."
Through the official legal means of the unknown place of residence through the official Iraqi newspapers, and we confirm that the Iraqi courts have issued decisions and rulings in absentia against them. He pointed out, "
And he continued, "The Iraqi Trade Bank began gradually, most recently in the last two years, by taking allocations for doubtful debts and withholding them from the bank's profits to face loans that are lagging on payment, in order to strengthen the financial position and to enhance the bank's sobriety due to the delay in repaying those loans," noting that "the personalities whose names are mentioned In the report published on the satellite channel, they are not reluctant and are committed to paying loan amounts and interest on an ongoing basis.
And he added, "The administration of the Iraqi Trade Bank, TBI, is keen to preserve public money and has been working in the last two years in cooperation with the Office of Financial Supervision, the Integrity Commission, and the Supreme Judicial Council on this matter, as nearly an amount (one trillion and five hundred billion Iraqi dinars) was collected through the filing of legal cases." The judiciary, seizure of movable and immovable funds, implementation of travel ban provisions against a number of reluctant customers to pay what they owe, conclusion of financial settlements with another number of reluctant customers, and taking additional guarantees to strengthen the position of public loans.
He pointed out, " link
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Tishwash: Saudi Aramco signs a deal with China's Sinopec
Sinopec signed an agreement with Saudi Aramco (TADAWUL:2222) to build a second-stage refining project with a capacity of 16 million tons per year.
NOPEC signed a framework agreement with Saudi Aramco for the construction of the second phase refining project with a capacity of 16 mtpa and 1.5 mtpa ethylene units in Juli, Fujian.
The project is expected to be completed and put into operation by the end of 2025, according to a press release from Sinopec.
The Chinese company also signed memorandums of understanding with Aramco and SABIC to build a facility for converting liquids into petrochemicals (TADAWUL: 2310) in Yanbu (TADAWUL: 3060) in the Kingdom of Saudi Arabia. refining in China.
Khaled Al-Rumayyan added, in an interview with the Chinese News Agency, that these conglomerates include providing sufficient supplies of oil and liquefied natural gas for oil refining, petrochemicals, and other industries.
The Aramco president said that there are many opportunities for Aramco to cooperate with China in new energy fields, such as carbon capture, hydrogen production, and non-metallic materials.
The cooperation is a new milestone achieved through the existing cooperation that shows mutual trust and recognition of all parties, and enhances their confidence to jointly deal with the energy transition, said Yu Baocai, president of Sinopec, in a statement.
Chinese President Xi Jinping said on Friday that his country will expand oil trade with the kingdom during his visit to the kingdom, which has strengthened ties between the world's second-largest economy and the world's largest supplier of crude link
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