“Tidbits From TNT” Wednesday 9-4-2024

TNT:

Tishwash:  With the participation of 150 international companies... Basra International Exhibition activities start today

Basra International Fair activities kick off today, Wednesday, with wide Arab and foreign participation and will continue for 15 days on the exhibition grounds.

Osama Majeed, the Public Relations and Media Officer at Dar Al-Faihaa Company, the organizer of the exhibition, told the National Iraqi News Agency / NINA / that the exhibition is attended by 150 companies from 12 Arab and foreign countries and will continue for 15 days starting from today, Wednesday, September 4, until the 18th of the same month.

Majeed added, "Companies from Egypt, Jordan, Lebanon, Palestine, Yemen, Syria, the pavilion of the Islamic Republic of Iran, Pakistan, India and Turkey are participating in the exhibition, in addition to wide participation from the Iraqi national product, which is participating with several products related to food, household and cleaning materials, indicating that the exhibition receives its visitors from three in the afternoon until midnight.  link

Tishwash:  Al-Mandlawi: Stable security situation is sufficient to proceed with serious partnerships for the economic sector

 Acting Speaker of Parliament Mohsen Al-Mandalawi confirmed today, Tuesday, that the stability of the security situation is sufficient to proceed with serious partnerships in the economic sector.

The media office of the acting Speaker of the Council of Representatives stated in a statement received by the Iraqi News Agency (INA), that "Mohsen Al-Mandalawi received at his residence the British Ambassador to Iraq, Stephen Hitchcock, and the meeting discussed the most important developments in the region and the world that are of common interest."

According to the statement, Al-Mandalawi called for "the necessity for the European Union, international powers and global organizations to assume their responsibilities in stopping the genocide against our Palestinian people in Gaza," stressing that "the stability of the region has become almost impossible in light of the presence of this usurping entity."

The statement added that "the acting Speaker of the Council stressed the importance of strengthening bilateral relations in a way that achieves mutual benefit and common interests between the two countries," noting that "the security and political stability witnessed by the country is sufficient to move towards serious partnerships and agreements and effective cooperation in the economic and commercial fields."
He explained that "the legislative authority supports the government's orientations aimed at establishing balanced relations with the Arab, regional and international environment in accordance with the principles of mutual respect and in a manner that preserves the security, stability and sovereignty of Iraq."

For his part, the British Ambassador expressed his country's "desire to strengthen relations of cooperation and friendship with Iraq and support it in the sectors of economic and social development, construction and reconstruction."  link

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Tishwash:  Has Iraq entered the economic reform phase after Standard & Poor's classification?

Economists considered that Iraq has entered a new phase in the Standard & Poor's classification of investment grade bonds if their credit rating is B- or higher. As for bonds with a rating of B+ and below, they are speculative grades and are classified as meaningless bonds.

Credit rating

In detail, the Ministry of Finance said that Iraq maintained its credit rating issued by Standard & Poor's Credit Rating Agency.

According to a statement by the ministry: “In the latest report issued by Standard & Poor’s Credit Rating Agency “S&P”: Iraq maintains its credit rating at B-/B with a stable outlook,” referring to “financial and economic stability in Iraq.”

He explained that “the new classification reflects the ongoing economic and financial reform policy pursued by the Ministry of Finance, in addition to maintaining the level of foreign currency reserves that exceed the external public debt and fulfilling other external financial obligations as a result of the stability of crude oil prices.”

The statement pointed out that the agency saw "the possibility of improving Iraq's credit rating in the event of an increase in the economic growth rate, diversification of the state's general financial revenues, oil and non-oil, an increase in the per capita income share of the national income, and the continuation of financial and economic policy reform measures."

Debt repayment

Standard & Poor's is a company that assigns credit ratings, which determine a debtor's ability to repay debt by making timely payments of principal and interest and the likelihood of default. The agency may rate the creditworthiness of issuers of debt obligations, debt instruments, and, in some cases, of underlying debt servicers, but not of individual consumers.

Debt instruments rated by credit rating agencies include government bonds, corporate bonds, certificates of deposit, municipal bonds, preferred stocks, and secured securities, such as mortgage-backed securities and collateralized debt obligations.

Issuers of obligations or securities may be corporations, special purpose entities, state or local governments, nonprofit organizations, or sovereign nations. Credit ratings facilitate the trading of securities in a secondary market. They affect the interest rate a security pays, with higher ratings resulting in lower interest rates.

Individual consumers are rated for creditworthiness not by credit rating agencies but by credit bureaus (also called consumer reporting agencies or credit reference agencies), which issue the credit rating.

Consultative meetings

And on Iraq’s openness to the Arab world and Prime Minister Mohammed Shia al-Sudani’s Arab tours and their impact: “The director of the Iraq Energy Center, Furat al-Moussawi, said: “This visit comes as a continuation of the previous tripartite consultative meetings between “Jordan, Iraq and Egypt”, within the framework of strategic economic agreements of interest to the countries involved, which will have positive repercussions for the stability of the countries of the region.

Al-Moussawi told the Iraq Observer Agency that the meeting was held to follow up on the projects that had been previously agreed upon, which include areas of investment cooperation in energy, housing, agriculture and reconstruction.

He pointed out that Iraq seeks to discuss the prospects of joint cooperation between the two brotherly countries, and ways to strengthen relations at various levels and fields, in a way that serves the interests of the Iraqi and Tunisian peoples.

He continued: “Al-Sudani, through the delegation participating with him, which includes the Ministers of Foreign Affairs, Oil, Electricity, Planning, Housing and Reconstruction, invited Tunisian companies to participate in investment projects and opportunities and build infrastructure in Iraq, and the importance of economic integration and the success of the upcoming meetings of the Iraqi-Tunisian Committee in Baghdad.

He pointed out: "Al-Sudani's government seeks to open up to its Arab surroundings to restore Iraq's pivotal and strategic role in the region, and this openness has become a vital strategic interest that enables Iraq and the countries of the region to overcome their economic crises through economic integration with their regional surroundings."

He added: One of the most important goals of Al-Sudani's visit is to try to unify the decision-making unit on the Palestinian issue and on ending the war in Gaza in order to restore security stability in the region, which is now threatened with explosion at any moment as a result of the escalation of geopolitical risks due to the criminal actions of the Israeli entity.

Exchange rate stability

In the capital Baghdad markets The exchange rate of the US dollar stabilized against the Iraqi dinar this morning in the Baghdad markets, while the prices came as follows:
The selling price is 150,250 dinars, while the purchase price was 148,250 dinars for every 100 dollars.

Iraq exports

The US Energy Information Administration also announced a decline in Iraq's oil exports to the United States during the past week.

The administration stated in a table that “the average US imports of crude oil during the past week from 9 major countries amounted to 5.608 million barrels per day, an increase of 156 thousand barrels per day from the previous week, which amounted to 5.452 million barrels per day.”

She added that "Iraq's oil exports to America amounted to 153 thousand barrels per day last week, down by 13 thousand barrels per day from the previous week, which amounted to 166 thousand barrels per day."

The administration indicated that “the largest oil revenues for America during the past week came from Canada at a rate of 3.874 million barrels per day, followed by Mexico at an average of 619 thousand barrels per day, then Saudi Arabia at an average of 311 thousand barrels per day, from Brazil at an average of 302 thousand barrels per day, and from Colombia at an average of 212 thousand barrels per day.”   link

Mot: and Once Again!!! -- I Finded another ""Truther"" on da Net!!! 

Mot: .. Knows How to Keep it Simple!!!