"Tidbits From TNT" Sunday Morning 3-26-2023
TNT:
Tishwash: The Saudi Export Bank signs an agreement to support trade and open investment horizons with Iraq
The CEO of the Export-Import Bank, Saad Al-Khalab, signed a line of credit agreement with the Iraqi Islamic Bank for Investment and Development. It aims to enhance export movement and develop trade relations between the Kingdom and Iraq.
The Iraqi Islamic Bank for Investment and Development said, in a statement, that it had signed an international credit line agreement to finance imports and goods with the Saudi Export-Import Bank; Within the framework of his efforts to open investment horizons that support commercial relations between the Republic of Iraq and the Kingdom.
The agreement was signed by the Iraqi Islamic Bank for Investment and Development, Chairman of the Board Ahmed Walid Ahmed and the Managing Director, Hammam Thamer Kazem Al-Attar, and from the Saudi Export-Import Bank, CEO, Saad bin Abdulaziz Al-Khalab.
The Iraqi Islamic Bank for Investment and Development added that the signing of the agreement represents an extension of the credit and financing packages that it provides to Iraqi merchants, and aims to enhance the import movement and develop trade relations between the Republic of Iraq and the Kingdom of Saudi Arabia.
The bank stated that the agreement comes within the bank's efforts to provide financing solutions that support the development of Iraqi non-oil imports and enhance their competitiveness in regional and global markets.
The Iraqi Islamic Bank for Investment and Development confirmed that the terms of the agreement were designed to contribute to activating the trade movement between the two brotherly countries, reduce import risks and costs, and bridge financing gaps for imports from the Kingdom. link
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CandyKisses: More than half. Iraq's oil exports to America drop
Baghdad Today - Follow-up
The US Energy Information Administration announced on Sunday that Iraq's oil exports to America fell by more than half during the past week.
The administration said in a report seen by Baghdad Today that "the average US imports of crude oil during the past week from seven countries amounted to 5.423 million barrels per day, down slightly by 4,5 barrels per day from the previous week, which amounted to 423.<> million barrels per day."
She added that "Iraq's oil exports to America averaged 144,202 barrels per day last week, down by 346,<> barrels per day from the previous week, in which oil exports to America reached an average of <>,<> barrels per day."
She pointed out that "the most oil revenues of America during the past week came from Canada at a rate of 3.240 million barrels per day, followed by Mexico with an average of 1.118 million barrels per day, and oil revenues from Saudi Arabia with an average of 483 thousand barrels per day, and then Colombia at a rate of 244 thousand barrels per day."
According to the administration, "the amount of US imports of crude oil from Nigeria averaged 129,69 barrels per day, and from Brazil with an average of <>,<> barrels per day, while no amount was imported from Russia, Libya or Ecuador."
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Tishwash: UAE launches {Digital Dirham}
The UAE Central Bank launched a new digital currency strategy, called the "Digital Dirham".
According to a statement published by the bank on its website, the strategy is one of the nine initiatives of the financial infrastructure transformation program in the UAE.
He explained that in order to implement this strategy, the bank signed an agreement with "G42 Cloud" and "R3" companies to launch the implementation of its strategy, stressing that "the first was chosen to provide infrastructure services for the project, while the second will provide technological services."
The UAE Central statement indicated that the first phase of the strategy will focus on three main pillars, which are “the pilot launch of the bridge platform with the aim of facilitating financial transactions for cross-border digital currencies and settlement of international trade payments, and bilateral cooperation to prove the concept of central digital currencies with the Republic of India, which is the largest The trading partners of the UAE, in addition to working to prove the concept of a digital currency to central banks, to issue a digital currency for the use of individuals, companies and institutions in the Emirates.
The statement expected the completion of the first phase of its digital currency strategy, within the 12 to 15 months coming.
This strategy comes after the success of the digital currency initiatives of central banks, including the “Aber” project with the Saudi Central Bank during 2020, the results of which confirmed the possibility of using the digital currency issued by the two central banks to settle cross-border payments. link
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Tishwash: Iraq and Cuba are discussing ways to enhance bilateral cooperation
Iraqi Foreign Minister Fuad Hussein discussed, during his meeting today, Saturday, with Cuban Deputy Prime Minister Anas Maria Chapman, on the sidelines of the Water Summit, which is holding its meetings at the United Nations headquarters in New York, ways to enhance bilateral cooperation.
The Cuban minister affirms the desire of the government and the people to strengthen the relationship with Iraq
And the Iraqi Ministry of Foreign Affairs stated - in a press statement reported by the Iraqi News Agency (INA) - that Fuad Hussein congratulated Cuba on its presidency this year of the Group of (77) and China, referring to the historical and traditional bilateral relations that combine Iraq and Cuba, and the desire of the Republic of Iraq to Strengthening it in all aspects, especially economic, commercial, scientific and health, as well as political, through multiple diplomacy in international organizations.
For her part, the Cuban Deputy Prime Minister affirmed the desire of the government and people of her country to strengthen bilateral relations with Iraq due to the position it enjoys in the region and international and regional organizations, as well as striving towards resuming economic and trade relations between the two countries, noting the importance of exchanging experiences in many sectors, including agricultural and medical treatments. Climate changes, water resource management, and the health care system. link
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CandyKisses: WHEN SOMEONE IS RUDE...
