Zig’s Place Chatroom News Monday Morning 5-16-22

Zig’s Place Chatroom News Monday Morning 5-16-22

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Butterfly   SULAIMANI — The US dollar to Iraqi dinar exchange rates were stable in the Kurdistan Region’s markets on Monday (May 16).    $100 was at 148,400 Iraqi dinars.

100 British pounds was at 179,000 Iraqi dinars, and 100 euros was at 156,500 IQD.

butterfly   SULAIMANI — Crude oil prices were down on Monday (May 16) compared to the previous day.

The price of Brent crude was at $109.2 down from $111.5 the previous day, and the price of WTI crude was at $108.4 down from $110.5.

butterfly   2022-05-16 07:30   Shafaq News/ The Iraq Stock Exchange (ISX) traded equities valued at more than 43 last week.

A report of the market obtained by Shafaq News agency said, "56 publicly traded companies cast out of 103 enlisted companies. The equities of 33 companies were not put into trade due to supply-demand disparities. fifteen companies were delisted by the Iraqi Securities Commission for violating the disclosure regulations."

"52.617.735.000 equities were traded this session at a value of 43.867.396.000 dinars via 3410 transactions. ISX60 index closed at 583.47," the report added.

It is noteworthy that Iraq Stock Exchange installed Central Depository and Electronic Trading Systems in 2009. It organizes five weekly sessions and lists 103 public companies from different economic sectors.

butterfly   2022-05-16 06:26   Shafaq News/ The leader of the Sadrist movement, Muqtada al-Sadr, lashed out at the Iraqi judiciary for backing the "disgraceful deeds" of what he called the "blocking one-third", hinting that he might pull out the streets card.

In a public speech he delivered earlier today, al-Sadr said, "the people are suffering from poverty...the audacity has reached a point that laws that might benefit the people are annulled shamelessly," in reference to the revocation of the emergency food security bill.

"They are aiming at the people. They want them to kneel. It is more surprising that the judiciary, knowingly or not, are aiding the shameless acts of the blocking one-third."

"Authority has blinded them from the burden, fear, poverty, loss, militias, external reliance, fear of normalization, and diseases."

Al-Sadr warned of the public protests that might erupt. "You may not be safe from the roar of wronged people."

Yesterday, Sunday, the maverick Shiite cleric announced a temporary shift to the opposition after the Iraqi political forces, including the Sadrist movement, failed to form a government.

Al-Sadr said in a statement, "I am honored that the lawmakers affiliated with me are the biggest bloc in the history of Iraq. I am honored I successfully formed the largest trans-quota bloc. I am honored I depended upon myself, not external parties. I am honored I did not have to resort to Judiciary to sustain the needs of the people and form the government. However, because of the internal and external squawking on myself and the notion of 'national majority government', we were not able to make it. It is an entitlement of the Independent forces."

"The parties that pretend to be independent did not support us. Therefore, we have only one choice left: moving to opposition for thirty days," he said.

"If the parties and political blocs, including those we allied with them, it would be great. If not, we will have another decision we announce later."

butterfly   2022-05-16 02:13  Shafaq News / Gold prices edged down in choppy trading on Monday as a strong dollar hurt demand for the greenback-priced metal and set it on course for a more than three-month trough hit in the previous session.

However, a fall in benchmark U.S. 10-year Treasury yields limited losses in zero-yield gold, helping keep prices above the key psychological support level of around $1,800 per ounce.

Spot gold was down 0.1% at $1,808.61 per ounce, as of 0539 GMT. U.S. gold futures dipped 0.2% to $1,804.80.

Marking a fourth straight weekly decline, gold prices on Friday fell more than 1% to $1,798.86 per ounce, before closing at $1,811.15.

Concerns around global growth helped the dollar start the week just off a 20-year high against its peers, making rival safe-haven gold less attractive for buyers holding other currencies.   (Reuters)

butterfly   2022-05-16 06:27   Shafaq News / The office of Nouri al-Maliki, the head of the State of Law Coalition, announced that the Coordination Framework (CF) and its allies will hold an emergency meeting to discuss the recent statements of Muqtada al-Sadr, the head of the Sadrist movement.

Al-Maliki's Secretary, Hisham al-Rikabi, said that the meeting will be held today evening, at former Prime Minister Haidar al-Abadi's office, noting that CF will announce a clear position on the latest political developments.

The CF will definitely hold more talks with political parties to put an end to the political impasse, al-Rikabi added.

The leader of the Sadrist movement, Muqtada al-Sadr, lashed out at the Iraqi judiciary for backing the "disgraceful deeds" of what he called the "blocking one-third", hinting that he might pull out the streets card.

In a public speech he delivered earlier today, al-Sadr said, "the people are suffering from poverty...the audacity has reached a point that laws that might benefit the people are annulled shamelessly," in reference to the revocation of the emergency food security bill.

"They are aiming at the people. They want them to kneel. It is more surprising that the judiciary, knowingly or not, are aiding the shameless acts of the blocking one-third."

"Authority has blinded them from the burden, fear, poverty, loss, militias, external reliance, fear of normalization, and diseases."

Al-Sadr warned of the public protests that might erupt. "You may not be safe from the roar of wronged people."

Yesterday, Sunday, the maverick Shiite cleric announced a temporary shift to the opposition after the Iraqi political forces, including the Sadrist movement, failed to form a government.

butterfly   Al-Sadr said in a statement, "I am honored that the lawmakers affiliated with me are the biggest bloc in the history of Iraq. I am honored I successfully formed the largest trans-quota bloc. I am honored I depended upon myself, not external parties. I am honored I did not have to resort to Judiciary to sustain the needs of the people and form the government. However, because of the internal and external squawking on myself and the notion of 'national majority government', we were not able to make it. It is an entitlement of the Independent forces."

“The parties that pretend to be independent did not support us. Therefore, we have only one choice left: moving to opposition for thirty days," he said.

"If the parties and political blocs, including those we allied with them, it would be great. If not, we will have another decision we announce later."

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