Iraqi News Highlights Thursday Evening 11-24-22

Iraqi News Highlights Thursday Evening 11-24-22

Tlm724 Administrator Bondlady’s Corner

The Iraqi Stock Exchange Announces The Weekly Trading Indicators

Economie| 02:08 - 11/24/2022   Baghdad - Mawazine News   The Iraq Stock Exchange announced, today, Thursday, trading indicators for the third week of the current month of November.

The market said, in a statement received by Mawazine News, that "during the third week of November 2022, it organized five trading sessions, from Sunday 11/20/2022 to Thursday 11/24/2022, and during this week the following indicators were achieved:

1.The number of shares traded during this week amounted to more than (3) billion shares

2.The value of shares traded this week amounted to more than (4) billion dinars 3.The trading index in the market closed for the first session of the week at (591.33) points, while the index closed at the end of the week at (590.60) points, achieving a decrease of (0.12%) from its closing at the beginning of the session.    https://www.mawazin.net/Details.aspx?jimare=212264

Iraq Earns More Than $9 Billion From Selling Oil In One Month

Economie| 10:33 - 11/24/2022   Baghdad - Mawazine News   The Ministry of Oil announced, on Thursday, the total oil exports and revenues achieved for the month of October, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO).

The ministry said, in a statement received by Mawazine News, that "the amount of crude oil exports amounted to 104,831,120 barrels, with revenues amounting to 9,281,647,000 dollars."

She added, "The total quantities of crude oil exported for last October from the oil fields in central and southern Iraq amounted to 102 million and 70 thousand and 427 barrels, while the quantities exported from Kirkuk oil through the port of Ceyhan were 2 million and 417 thousand and 893 barrels."

And she added, "The average price of one barrel amounted to (88,539) dollars, and that the exported quantities were loaded by 34 international companies of several nationalities, from the ports of Basra, Khor al-Amaya, the mono-buoys on the Gulf, and the Turkish port of Ceyhan." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=212242

The Rise In The Exchange Rate Of The Dollar

Economie| 09:59 - 11/24/2022   Baghdad - Mawazine News  The exchange rates of the dollar rose today, Thursday, on the Iraqi Stock Exchange.

The selling price of the dollar was recorded at 149,050 dinars per 100 dollars, while the buying price of the dollar was 148,950 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 sale price to the citizen is (1470). One dinar for every dollar. Ended 29 / m 99    https://www.mawazin.net/Details.aspx?jimare=212238

The Central Bank Explains The Reasons For The Decline In Sales Of The Foreign Currency Selling Window

Economie| 09:57 - 11/24/2022   Baghdad - Mawazine News   The Central Bank of Iraq revealed, today, Thursday, the reasons for the decrease in the volume of sales of the foreign currency sale window in recent times.

An authorized source in the bank told the official news agency, followed by Mawazine News, that "the Central Bank of Iraq is working to automate banking business according to the best banking standards, including the establishment of an electronic platform that organizes the external transfer process through the foreign currency sale window, similar to the electronic platform that organized Letters of guarantee work.

He added, "Due to the insufficient readiness of the local banks with the start of the trial application of the platform, the implementation of part of the foreign transfers was postponed, which resulted in a decrease in the volume of sales of the foreign currency sale window."

And he stressed that "the Central Bank continues to strengthen the balances of banks abroad to settle their foreign transactions through the window, which finances imports and other permitted transactions in accordance with the instructions of the window and the application of international standards and the law against money laundering and terrorist financing." Ended 29 / m99

https://www.mawazin.net/Details.aspx?jimare=212237

The House Of Representatives Ends The First Reading Of A Number Of Bills

Political | 01:11 - 11/24/2022   Baghdad - Mawazine News   , the House of Representatives, in its current session, finished the first reading of a number of bills.

The Parliament's media department said, "The House of Representatives has completed the first reading of a draft law ratifying an agreement between Iraq and Tunisia regarding air services between their regions, and a draft law on the accession of the Republic of Iraq to a protocol to amend the agreement regarding crimes and some other acts committed on board aircraft, and a draft law ratifying the transport agreement." sea​​between Iraq and Egypt.

Parliament also finished, "The first reading of the draft law on the accession of the Republic of Iraq to the 2005 Protocol related to the Protocol for the Suppression of Unlawful Acts against the Safety of Fixed Platforms on the Continental Shelf of 1988, and the first reading of the draft law on the first amendment to the law regulating the lease of agricultural lands and the right to dispose of them for agricultural and veterinary graduates." No. (24) of 2013.

After that, the Parliamentary Security and Defense Committee proceeded with the "first reading of the draft law on the Iraqi National Security Agency." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=212261

The Investment Authority Confirms Openness To Local And Foreign Investments

Money and business   Economy News-Baghdad  Today, Thursday, the National Investment Commission confirmed a government approach to advance the investment reality in Iraq.

The head of the National Investment Authority, Salar Muhammad Amin, said in a statement, "One of the most prominent directions of the authority at the current and near stage is to open up to available local and foreign investments in various sectors and to find out the most prominent causes of reluctance."

He added that he "meets daily with dozens of investors, businessmen and companies wishing to invest, and learns about the most prominent problems they face, in attempts to overcome these obstacles through direct coordination with the state departments concerned with the investment process."

And he stressed that "the advancement of the investment reality of Iraq is one of the most prominent directions of the government and the authority," noting that "the management of the authority is working on this with full force and transparency, which is positively reflected in the economic arena and contributes to moving the wheel of the economy."

Views 130   Added 11/24/2022 - 1:29 PM   Updated 11/24/2022 - 5:38 PM

https://economy-news.net/content.php?id=30989

The President Of The Republic Assures The Commander Of The NATO Mission In Iraq The Need To Expand His Training And Advisory Functions

Thursday 24, November 2022 15:43 | political Number of readings: 157   Baghdad / NINA / - The President of the Republic, Abdul Latif Jamal Rashid, received today, Thursday, the commander of the North Atlantic Treaty Organization (NATO) mission in Iraq, Lieutenant General Giovanni Iannucci.

A statement by the Office of the President of the Republic stated: During the meeting, the tasks carried out by the NATO mission in the country were reviewed in providing military advice and training to the Iraqi security forces, enhancing their military capabilities and raising the level of professionalism and efficiency, in a way that contributes to supporting Iraq's efforts in combating terrorism and eliminating its hotbeds.

The President of the Republic affirmed that terrorism and extremism constitute a dangerous phenomenon for the whole world, indicating that the Iraqi security forces with all their formations were able to defeat terrorism and its malicious plans, and continue to pursue its remnants to block the way for its attempts to threaten the security and stability of citizens.

He pointed to the important cooperation with NATO in the field of strengthening the capabilities of the Iraqi security forces in carrying out this task and the need to expand its training and advisory tasks to include all regions of Iraq.

For his part, Lieutenant General Iannucci expressed the NATO mission's keenness to consolidate relations of cooperation with Iraq in the field of training, consultation, exchange of information and intelligence effort, in a way that enhances the capabilities of the Iraqi armed forces of all kinds./ End 3

https://ninanews.com/Website/News/Details?key=1016173  

In The Document .. The Central Bank Stops The Procedures For Transferring The Balances Of Iraqi Banks From Their Lebanese Counterparts

Thursday, November 24, 2022 1:22 PM   Baghdad / National News Center   The Central Bank stops the procedures for transferring the balances of Iraqi banks from their Lebanese counterparts     https://nnciraq.com/167257/

The Investment Commission: A Governmental Approach To Promote The Investment Reality In Iraq

Economie| 12:49 - 11/24/2022   Baghdad - Mawazine News  The National Investment Commission confirmed today, Thursday, a government approach to advance the investment reality in Iraq.

The head of the National Investment Commission, Salar Muhammad Amin, said in a statement, "One of the most prominent directions of the commission at the current and near stage is to open up to available local and foreign investments in various sectors and to find out the most prominent causes of reluctance."

He added that he "meets daily with dozens of investors, businessmen and companies wishing to invest, and learns about the most prominent problems they face, in attempts to overcome these obstacles through direct coordination with the state departments concerned with the investment process."

He stressed that "the advancement of the investment reality in Iraq is one of the most prominent directions of the government and the commission," noting that "

https://www.mawazin.net/Details.aspx?jimare=212260

To read more current and reliable Iraqi news please visit BondLady’s Corner:

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"Tidbits From TNT" Thursday Morning 11-24-2022

TNT:

Tishwash:  For the first time since 2003, Iraq will deploy army forces on the borders of Kurdistan

The leader of the Patriotic Union of Kurdistan, Ghiath Al-Sorji, revealed, on Thursday, an agreement to deploy the Iraqi army forces with the Peshmerga on the border strip with Turkey and Iran, indicating that the agreement will end a major security crisis on the borders.

Al-Sorji said, "A meeting that included Iraqi security leaders with the Peshmerga forces ended with an agreement to deploy Iraqi army units, reinforced by Peshmerga units, on the hot border strip with Turkey and Iran." 

He added, "The agreement is very important and contributes to stabilizing the situation inside the Kurdistan region and even the center, and obliges Turkey and all the Kurdish opposition to withdraw its forces from Iraq."

Al-Sorji pointed out that "the Iraqi forces are deployed slightly on the borders through the border guards, at a time when units of the army and the Peshmerga will be deployed to deter any aggression against neighboring countries," and to end what he described as "the countries' pretext to fight the Komala, the Workers' Party and the Democratic Party inside the country."

 The security agreement is the first to deploy Iraqi army forces inside the Kurdistan region after 2003. 

link

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CandyKisses:  Summary of the fourteenth session of the Iraqi Parliament held today

Baghdad - Nas  

The President of the Kurdistan Regional Government, Masrour Barzani, discussed on Thursday with the Special Envoy of the Secretary-General of the United Nations in Iraq, Jeanine Hennis-Plasschaert, the general situation in Iraq and the latest developments in the region.  

The Media Office of the Regional Government stated in a statement, a copy of which was received by "NAS", (November 24, 2022), that "the President of the Kurdistan Regional Government, Masrour Barzani, received today, Thursday, November 24, 2022, the Special Envoy of the Secretary-General of the United Nations in Iraq, Jeanine Hennis-Plasschaert

And in the meeting, they discussed the general situation of Iraq and the latest developments and developments in the region, in addition to the importance of finding a radical solution to the problems between the Kurdistan Region and the federal government in accordance with the constitution and the ministerial curriculum of the new government."  

The statement added that "the meeting witnessed a mutual affirmation of respect for the sovereignty and protection of the territories of Iraq and the Kurdistan region, and an end to the bombing and attacks on the Kurdistan region."  

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CandyKisses:  Kuwaiti MP: Kuwait will help the Iraqi government recover the smuggled money

Kuwaiti parliamentarian Khalil Abul said on Wednesday that his country would "help" the Iraqi government in recovering the smuggled money

Apple said, "The visit of Prime Minister Muhammad Shia' al-Sudani to Kuwait will be the beginning of opening new horizons of cooperation between the two countries. Iraq's stability is important for capital investment. There is the issue of electrical connection and railways, so building integration in all aspects is very important

Apple added in a statement to "Euphrates News", followed by "Al-Iqtisad News", that "Kuwait will help the Iraqi government to recover smuggled funds abroad, and we look forward, in the name of the Kuwaiti people, to developing relations and we hope that Iraq will be active in the region

It is noteworthy that Al-Sudani conducted Wednesday, an official visit to Kuwait that lasted for hours, during which a series of meetings and discussions took place

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CandyKisses:  Central Bank: We launched an initiative worth one trillion dinars to support clean energy

On Wednesday, the Central Bank of Iraq identified paths to reform the country's economic system, while announcing clean energy support with one trillion dinars

"It is not possible to create an economic sector or attract investors without a successful and healthy banking sector," said the Central Bank's advisor, Ihsan Shamran al-Yasiri, to the official news agency, pointing out that "the government banking sector acquires a large percentage of the government or private public's funds, so reforming the banking sector." It is a starting point for reforming the economic system

He added, "The Central Bank launched an initiative in the amount of 1 trillion dinars to finance the purchase of electricity generation units from renewable energy," noting that "the initiative constitutes a great starting point for changing the destinations and mood of the public to switch to clean energy

He continued, "The government began more than a year ago trying to switch to clean energy," explaining that "the Central Bank contributed to the initiative through simple, interest-free loans for the family community and the private economic sector

Mot: ... should be ready to Cook Now I Thinks! ~~~

Mot:  ...... Anyone Old Enough to Remember the 80s ????

Iraqi News Highlights Early Thursday AM 11-24-22

Iraqi News Highlights Early Thursday AM 11-24-22

Tlm724 Administrator Bondlady’s Corner

There Is No Benefit From Financial Abundance Without A Strategic Economic Mindset

Abdul Hassan Al-Shammari for / Nina / Wednesday 23, November 2022 21:48 | Economy  Number of readings : 884  Baghdad / Nina / economist Abdul Hassan Al-Shammari stressed that:

"there is no benefit from financial abundance without a strategic economic mindset".

"In light of the great financial abundance, it is possible to build industry and agriculture and achieve high financial goals, but the country needs high-level planning to achieve this," Al-Shammari said in a statement to the Iraqi national news agency (Nina).

He added:  "some do not understand the existence of strategic economic minds that promote the economy for the better by developing various sectors of industry, agriculture and tourism that generate more money for the country than oil revenues and transport Iraq to a country with diversified revenues

https://ninanews.com/Website/News/Details?key=1016035

The Central Bank Determines The Ways Of Reforming The Economic System

Yesterday's economy, 19:43 Baghdad-WA'i-Hassan Al-Fawwaz  The Central Bank of Iraq, on Wednesday, outlined the paths of reforming the economic system in the country, while announcing support for clean energy by one trillion dinars.

The adviser to the central bank Ihsan shamran al-Yasiri, told the Iraqi News Agency (WA):  "it is not possible to create an economic sector and to attract investors without a successful and healthy banking sector," pointing out that

"the government banking sector acquires a large proportion of the funds of the government or private public; therefore, the reform of the banking sector is a starting point for reforming the economic system.

He added that  "the central bank launched an initiative in the amount of 1 trillion dinars to finance the purchase of electricity generation units from renewable energy," noting that  "the initiative is a great starting point to change the views and mood of the public to switch to clean energy.

He added that  "the government began more than a year ago to try to switch to clean energy," explaining that "the Central Bank contributed to the initiative through simple interest-free loans to the family community and the private economic sector.   LINK MISSING

 The Central Bank Explains The Reasons For The Decline In Sales Of The Window For The Sale Of Foreign Currency

Economy | 09:57 - 24/11/2022   Baghdad-Mawazine news the Central Bank of Iraq revealed, on Thursday, the reasons for the decline in the volume of sales of the foreign currency selling window in recent times.

An authorized source at the bank told the official news agency, followed by / Mawazine news/, that

"the Central Bank of Iraq is working to automate banking according to the best banking standards, including the establishment of an electronic platform that regulates the external transfer process through the window of selling foreign currency, similar to the electronic platform that organized the work of letters of guarantee.

"Due to the insufficient readiness of local banks with the start of the pilot application of the platform, the implementation of part of foreign transfers has been postponed, which entailed a decrease in the volume of sales of the window for the sale of foreign currency," he added.

"The central bank continues to strengthen the balances of banks abroad to settle their foreign transactions through the window, which finances imports and other permitted transactions in accordance with the instructions of the window and the application of international standards and the law on combating money laundering and terrorist financing," he stressed.

https://www.mawazin.net/Details.aspx?jimare=212237

It Is Estimated Twice As Advertised.. Parliamentary Integrity Reveals A New Figure For The"Theft Of The Century"

Politics   breaking   Parliamentary integrity   Theft of the century   New number  2022-11-23 17:09

Shafaq News / the Parliamentary Integrity Committee revealed, on Wednesday, a new development in the topic of "theft of the century", indicating that the total amount stolen exceeds five billion dollars.

Committee member Ahmed al-Rubaie told Shafaq News Agency that

"the Parliamentary Integrity Committee formed a Special Investigation Committee on the issue of theft of tax funds or the so-called "theft of the century".

He pointed out that  "the committee hosted a large number of officials and government agencies, including the integrity commission and the Financial Supervision Bureau, to investigate (the theft of the century).

He pointed out that  "the report of the Ministry of Finance determined that during a year the amount of 3.7 trillion dinars disappeared, but before the specified period there are a lot of stolen amounts as well as customs tariff secretariats".

"According to preliminary information obtained by the Parliamentary Integrity Committee, it turned out that the stolen amount exceeds five billion dollars,"al-Rubaie stressed.

The "theft of the century" became the talk of the Iraqi street, political circles and others until its resonance spread outside Iraq to be covered by Arab and Western media.

The "theft of the century" is represented by the disappearance of the amount of 3.7 trillion Iraqi dinars (about two and a half billion dollars) from the funds of the tax secretariats, and was disclosed by several concerned parties about two months before the end of the term of the previous government headed by Mustafa kadhimi.

Following the discovery of the theft, the integrity and judicial authority authority moved to investigate the case and several judicial arrest warrants were issued.

the first of the detainees was businessman Nour Zuhair and he was sent to prison, in addition to others, in addition to judicial decisions to confiscate the movable and immovable property of the person involved in the theft, as well as their families.

The case file is still open with the Iraqi judiciary to reach all its leads, as well as ways to recover the money that was smuggled out of Iraq, according to a number of Deputies and politicians.

https://shafaq.com/ar/سیاسة/يقد-ر-بضعف-المعلن-عنه-النزاهة-النيابية-تكشف-عن-رقم-جديد-لـ-سرقة-القرن

Bigger Than Iran And Turkey.. The Washington Institute Predicts The Population Of Iraq In 2100

Reports | 07:41 - 23/11/2022  Baghdad-Mawazine News  predicted the Washington Institute, the population of Iraq by 2100, while he pointed out that it will exceed the population of Iran and Turkey.

"The United Nations predicts that two of the largest populations in the Middle East - Turkey and Iran - will experience declines by 2100 and

Turkey is expected to decrease from 85 million to 83 million, and

Iran from 89 million to 80 million, which will lead to their dropping from their place as Giants," the institute said in a report translated /Mawazine news/," Demographics of the region".  She added,

"on the contrary, two medium-sized countries-Iraq and Yemen-are expected to explode in population, which may increase their geostrategic importance in this process and Iraq will expand from 44 million people to 112 million,

that is, from half the size of Iran or Turkey today to 40% larger than either of them and this It means, among other things, that the country with the largest number of Shiite Muslims in the world will be Iraq, not Iran,"he said.

"Ankara and Tehran are likely to find it more difficult to control an Iraq that exceeds their population," he added.

"Another way to look at the numbers: the population of Iraq is currently 75% of the population of the six GCC countries combined (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates),

but by 2100 it will become 33% larger than the GCC countries, and it will also be 2.2 times larger than 50 million," she noted A person in Saudi Arabia, the largest GCC country by population".  He pointed out that

"the population of Yemen is expected to increase from 34 million people to 74 million, that is, from being less densely populated than Saudi Arabia to a population 50% larger than Saudi Arabia and this would make its population 90% the size of the GCC countries combined, and close to Residents of Iran or Turkey".

"Egypt is set to continue its demographic explosion, doubling from 111 million people to 205 million, making it the largest population in the region so far, in other words: it will be 25% larger than the size of Iran and Turkey combined, and almost twice the size of Russia (which is expected to decrease to 112 million)".

"The population growth in the GCC countries will be much slower with their current combined population of 59 million and in 2100 it is expected to reach 84 million,

however, this still represents a significant increase in the context of the broader slowdown in global growth, and will also push the GCC countries beyond Iran and Turkey In terms of population size".  He noted,

"elsewhere, the UN makes the following forecasts:

the population of Israel will double from 9.2 million to 18.4 million

Palestine (that is, Gaza and the West Bank) will grow from 5.2 million to 12.8 million

Syria will almost double from 22 million to 43 million

Jordan will grow from 11 million to 18 million

in On the other hand, Lebanon will shrink from 5.5 million to 4.7 million

in total, the number of these five populations will reach 95 million, that is, larger than turkey or Iran," he said.

Regarding the predictions of the superpower, he pointed out,

"the figures in the Middle East are more obvious when viewed in conjunction with the expected population shifts in the "superpower" countries currently competing for influence in that region and

today, the population of the United States is 338 million people, a quarter of the population of China,

but by 2100, It is expected to reach 394 million, or more than half the size of China-which the UN expects to decrease significantly from 1.425 billion to 767 million and

the population of Russia is also expected to shrink, falling from 43% of the US population to 28%.

In other words, Moscow and Beijing are likely to face serious challenges in maintaining their existing national power relations," he said.  https://www.mawazin.net/Details.aspx?jimare=212202

Gazprom Threatens To Stop Gas Supplies To Europe Via Its Last Lines

23/11/2022    1  The Russian company “Gazprom” announced that it will reduce its gas supplies sent to Europe through Ukraine starting next week, at a time when temperatures are falling strongly during the winter, as European countries begin to use their gas reserves for heating.

Russian gas exports through Ukraine are the last gas export routes from Russia to Eastern Europe, as Moscow has reduced gas supplies to the Old Continent since the outbreak of the Ukrainian crisis last February, and fell sharply before stopping completely through the “Nord Stream 1” line at the end of last August.

Traders and policymakers were also preparing for a possible curb in flows through Ukraine, as prices rose by about 5.2 percent, according to a report published by the agency “Bloomberg”, Tuesday.

“Gazprom " said that some of the gas supplies that are scheduled to reach Moldova remain in Ukraine, and noted that it will limit the volumes of gas passing through Ukraine from November 28, consistent with the volumes of gas that do not reach Moldovan customers.

The report explained that the Russian gas pipeline through Ukraine is also used to transport gas to Europe, but in minimal quantities.

For its part, the Ukrainian operator of the line said that it is fully delivering the allocated gas supplies to Moldova.

At the same time, since last September, Moldova and Ukraine have organized reverse gas flows, according to a statement from Ukraine, which means that some volumes of Russian gas intended for Moldova may remain in Ukraine, including for storage purposes.

The European side fears that the move will lead to a complete cessation of Russian gas supplies through Ukraine.

Despite the fact that European countries have larger stocks than usual, the current winter will be a challenge for Europe with the interruption of Russian gas supplies.

Katya Yafimava, a researcher at the Oxford Institute for Energy Studies, said that the market is taking into account the possibility of a further decline in gas flows from Russia, so strong moves in the market will occur only when the prospects become a fait accompli.  She added that so far the problem apparently concerns only Ukraine and Moldova.  https://earthiq.news/archives/168772

An Oil Expert Expects Oil Prices To Rise To 4 Times Its Current Value

November 23, 2022  Journal(JNA)  Oil expert Hamza al-Jawahery predicted on Wednesday that

oil prices will rise to 400 dollars if Russia stops exporting crude oil.  Al-Jawahery said in a statement followed by the “Journal” that

the US and European threats to dispense with Russian oil and gas are just bids and procrastination in order to put pressure on Russia, indicating that

the only affected by this will be Europe and America only.

He added that  Russia's oil production is more than 11 million barrels and exports about 7 million barrels, most of which go to Europe, and that  this amount is not small and

this amount cannot be compensated if Russia stops exporting from any country, whether it is Saudi Arabia, Iraq or any Gulf country, and

if these countries come together, it compensates only for about half of Russia's exports, stressing that

if Russia stops exporting oil, oil prices will rise to more than 400 dollars a barrel,” he said.

The oil markets will suffer from a shortage of supplies and its impact on prices will be very large and

there will be a major economic collapse in Europe,” he noted.

He stressed that  "some European peoples and governments, in particular, look at their interests and as long as these remain only within the scope of the threat, they are silent,

but when their interests are harmed, they will not comply with the decisions of some countries not to stop importing oil and gas from Russia.

https://www.aljournal.com/خبير-نفطي-يتوقع-ارتفاع-اسعار-النفط-الى-4/

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Iraqi News Highlights Wednesday Evening 11-23-22

Iraqi News Highlights Wednesday Evening 11-23-22

Tlm724 Administrator  BondLady’s Corner                                   

Oil Price Stability

Economie| 09:04 - 11/23/2022   Follow-up - Mawazine News   Oil prices stabilized on Wednesday, with traders awaiting the Russian crude price cap plan and assessing the demand outlook in China, which was hit by the Corona virus.

West Texas Intermediate crude traded up one cent to reach $80.96 a barrel at 04:13 GMT, after rising by more than 1% in the previous session, while Brent crude fell 3 cents to $88.33.

EU ambassadors may meet later on Wednesday to approve the price cap plan after officials eased the related sanctions package.

Russia said it would not sell crude to countries that would apply the cap, which was put in place to punish Moscow for its invasion of Ukraine while keeping the country's oil flowing.

Crude oil prices trended lower this month amid fears of a hit to demand in China, the world's largest importer, as the country tightens coronavirus restrictions, and supplies from the Organization of the Petroleum Exporting Countries (OPEC) and its allies were also in focus, as members denied discussions to increase production in Their meeting next December.

A number of analysts said that oil benefited from the broader rise in risky assets, while members of OPEC + denied reports of increased production that gave some calm to prices. "However, demand risks remain, especially with the Corona situation in China." 29/AD 99 ended

https://www.mawazin.net/Details.aspx?jimare=212130

The Decline In The Exchange Rates Of The Dollar Against The Dinar

Economie| 10:35 - 11/23/2022   Baghdad - Mawazine News  The exchange rates of the dollar decreased, on Wednesday, on the Iraqi Stock Exchange.  Selling  price: 148,500 dinars per 100 dollars. Buying price: 148,400 dinars per 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=212140

Industry: Five Thousand Plants Will Start Production In The Coming Years

Reconstruction and building    Economy News-Baghdad   The Ministry of Industry and Minerals revealed that there are 5,000 medium and large factories underway in the country, which will end in the next five years.

The Director General of the Directorate of Industrial Development in the Ministry, Aziz Nazim, said in a statement to “Al-Sabah”: The aforementioned factories, which were granted regular establishment licenses by the Ministry, will supply the local markets, after their completion, with various goods and commodities, which will give the country an opportunity to dispense with importing all its needs of those goods, and be satisfied with their local counterparts.

He pointed to the importance played by the private sector in developing the local economy and its growth at acceptable rates, in addition to its contribution to absorbing unemployment and employing manpower that may reach hundreds within each project, as well as keeping the hard currency that is usually depleted in import operations, noting that his department is in addition to its tasks By granting permission to establish the project, it follows the construction stages of it.

Nazim stated that the Directorate is keen, through the plans it has prepared, to advance industrial projects by supporting the national product, in coordination with the ministries, as well as the importer, using the national product instead, in addition to coordinating with the customs authority to prevent some materials that were manufactured locally from entering Like the juices that are made locally.

Views 110   Added 11/23/2022 - 9:03 AM   Updated 11/23/2022 - 5:35 PM  

https://economy-news.net/content.php?id=30960

There Is No Specific Date Yet For Presenting The Report Of The “Theft Of The Century” Case In Parliament

Parliamentary Finance for / Nina /:  Wednesday 23 November 2022 14:46 | political Number of readings: 233   Baghdad / NINA /- The Parliamentary Finance Committee revealed the developments of the work of the Special Parliamentary Committee in charge of following up the issue of disbursing tax secretariats, or what is known collectively as "theft of the century".

The age head of the committee, MP Mahasin Hamdoun, stated, in a statement to the National Iraqi News Agency / NINA /, that "the Finance Committee held a group of meetings with the directors of the Rafidain Bank, the General Taxes, and officials of the Ministry of Finance to discuss the circumstances of the issue of the disbursement and theft of tax secretariat revenues."

And she explained, "All files, proposals and parliamentary questions related to this case were referred to the judiciary so that it takes its legal path in discovering and investigating facts."

And she added, "The judicial authorities have taken their full role in investigating and investigating those involved and the negligent, and following up on the course of all legal and judicial procedures," indicating that "the parliamentary committee for following up this issue is carrying out its work and will prepare a technical report with a set of recommendations, but the date for presenting the report to Parliament has not yet been determined." deputies."

The Presidency of the House of Representatives had recently assigned a special parliamentary committee to follow up on the file of the issue of disbursing tax secretariats, "the theft of the century", in coordination with the judicial authorities, including members of the integrity, financial and legal committees./ End 5    https://ninanews.com/Website/News/Details?Key=1015936

In The Document, The Ministry Of Finance Terminates The Appointment Of Abdul Mohsen Alwan As Director Of The Real Estate Bank

Wednesday 23 November 2022 12:56 | Economical Number of readings: 250   Baghdad / NINA / - The Ministry of Finance completed the assignment of Abdul Mohsen Alwan, director of the Real Estate Bank, and assigned Abbas Shihab Ahmed, general director of the bank at the Ministry of Finance./ Ended8    https://ninanews.com/Website/News/Details?key=1015913

Iraq Confiscates The Money Of One Of The Private Banks And Distributes It To This Category

Economy , 2022/11/22 09:13, number of readings: 276   Baghdad-Iraq today:  A member of the House of Representatives, nirmeen Maarouf, confirmed that the assets of Tigris and Euphrates bank will be distributed to depositors and institutions that hold funds in the bank.

MP Maarouf said in a statement that  "in order to follow up the rights of citizens and institutions that have bank accounts with banks operating in the Kurdistan region and bankrupt, such as Tigris and Euphrates bank. I wrote to the central bank asking for clarification on its procedures with these banks," he said. 

She added,  "in response, the central bank clarified in writing 9/3/29374 on 16/11/2022 that after registering the applications of all account holders and depositors with the bank and later, the funds earned from the sale of the bank's property will be distributed to account holders and bank accounts under Article 92 of the Banking Law No. 94 of 2004".

https://iraqtoday.com/news/67686/العراق-يصادر-اموال-احد-المصارف-الأهلية-ويوزعها-على-هذه-الفئة

To read more current and reliable Iraqi news please visit BondLady’s Corner:

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Iraqi News Highlights Wednesday Afternoon 11-23-22

Iraqi News Highlights Wednesday Afternoon 11-23-22

Tlm724 Administrator Bondlady’s Corner

Iraq Ranks 32 Among The Largest Holders Of US Treasury Bonds

Wednesday 23 November 2022 10:33 | Economical Number of readings: 208  Baghdad / NINA / - The US Treasury Department announced today, Wednesday, that Iraq has advanced two ranks among the largest foreign holders of US Treasury bonds.

The treasury said in its latest table, "Iraq rose two ranks to reach the 32nd rank among the countries with the largest possession of US treasury bonds, of the 38 countries listed in the table for countries with possessions of more than 32 billion dollars."

And she added, "Iraq's possession of these bonds amounted to $36.9 billion for the month of September, up by 3.65 percent from August of 2022, and up by 105 percent from the same month of last year 2021."

She pointed out that "Iraq was the fourth largest Arab country after Saudi Arabia, Kuwait and the UAE, while Japan came at the top of the countries with the largest possession of these bonds, followed by China second and the United Kingdom third," indicating that the total bonds of the countries of the world amounted to 7 trillion and 296 billion dollars. https://ninanews.com/Website/News/Details?key=1015851

The US Ambassador And The Governor Of The Central Bank Are Discussing The Fight Against Corruption

Economie   Wednesday, November 23, 2022 12:27 PM   The US ambassador and the governor of the Central Bank are discussing the fight against corruption   https://nnciraq.com/167026/

Iraq Ranks 32 Among The Largest Holders Of US Treasury Bonds

Wednesday 23 November 2022 10:33 | Economical Number of readings: 208  Baghdad / NINA / - The US Treasury Department announced today, Wednesday, that Iraq has advanced two ranks among the largest foreign holders of US Treasury bonds.

The treasury said in its latest table, "Iraq rose two ranks to reach the 32nd rank among the countries with the largest possession of US treasury bonds, of the 38 countries listed in the table for countries with possessions of more than 32 billion dollars."

And she added, "Iraq's possession of these bonds amounted to $36.9 billion for the month of September, up by 3.65 percent from August of 2022, and up by 105 percent from the same month of last year 2021."

She pointed out that "Iraq was the fourth largest Arab country after Saudi Arabia, Kuwait and the UAE, while Japan came at the top of the countries with the largest possession of these bonds, followed by China second and the United Kingdom third," indicating that the total bonds of the countries of the world amounted to 7 trillion and 296 billion dollars. https://ninanews.com/Website/News/Details?key=1015851

Iraq Is Fifth In The World In Oil Reserves, The Cheapest To Extract And The Most Profitable

Posted On2022-11-23 By Sotaliraq   Iraq's oil reserves accounted for 8.4 percent of the world's reserves, in addition to the cheapest extraction, according to the British company BP.

The company said in a report: "Iraq's oil reserves amounted to 145 billion barrels," indicating that "these reserves constitute 8.4 percent of the world's oil reserves."

And she indicated that “Venezuela ranked first with the largest oil reserves in the world, with an amount of 303.8 billion barrels, which constitutes 17.5 percent of the world’s reserves, followed by Saudi Arabia with 297.5 billion barrels, then Canada came third with 168.1 billion barrels, and then Iran came fourth with 157.8 billion barrels, and Iraq came fourth. Fifth, then Russia came sixth with 107.8 billion barrels, Kuwait came seventh with 101.5 billion barrels, then the UAE came eighth with 97.8 billion barrels, then the United States came ninth with 68.8 billion barrels, and Libya came in tenth place with 48.4 billion barrels.   LINK

Iraq And The United States Sign The Implementation Agreement For The Development Goals Grant

Economie| 12:07 - 11/23/2022   Baghdad - Mawazine News  Iraq and the United States of America signed, today, Wednesday, the implementation agreement for the development goals grant amounting to more than $547 million.

And the official news agency stated, "Iraq, represented by the Undersecretary of the Ministry of Planning, Maher Johan, signed with the American side, represented by the President of the US Agency for International Development, Alice Janes, the executive agreement for the development goals grant."

She added, "The signing of the agreement took place in the presence of the Minister of Planning, Muhammad Ali Tamim, and the US Ambassador, Elena Romansky."

In turn, Tamim said in a press conference, "Development is the mainstay of relations between Iraq and the United States, and we will move forward towards supporting tracks in accordance with Iraq's development vision 2030, after the relations between the two countries witnessed a lot of development based on common interests in many fields and at the forefront of them." economic fields.

He pointed out that "our meeting today comes in celebration of the joint signing of the executive agreement for the development goals grant between the Republic of Iraq, represented by the Ministry of Planning, and the United States of America, represented by the US Agency for International Development."

He continued, "The signing of the agreement coincided with the first steps for our new government to start its work, as the ministerial curriculum for this government adopted a realistic plan that can be implemented by ministries, independent bodies, and local governments, with a joint responsibility for the government structure in all its aspects.

Our promising and ambitious plan included work to reform the economic sectors." Financial and service issues, and addressing poverty and unemployment, according to specific priorities, allow the government to deal with these files and advance the service situation in all parts of Iraq.

He added: "Hence comes the importance of the implementation agreement for the development goals grant that we signed today, and it will be supportive of achieving accelerated and comprehensive economic growth, which will contribute to restoring and strengthening citizens' confidence in the state, and this is what we are working on through joint cooperation in a way that leads to meeting the needs of population groups."

Weak, and addressing the results and repercussions of the war against terrorism,” explaining, “The signing of the executive agreement will be valid for a period of five years starting from the date of signing, and it comes within the framework of the strategic agreement for the relationship of friendship and cooperation between Iraq and the United States of America, as well as in accordance with the economic and technical cooperation agreement between the two countries.” ".

Tamim expressed his hope that "this agreement will really contribute to achieving the goals for which it came, foremost of which is the achievement of accelerated economic growth, and contribute to meeting the needs of citizens, especially the vulnerable groups among them, as well as mitigating the impact of extremism in all its forms,

pointing out:" We seek to build Real partnerships with our friends in order to invest such partnerships in the process of building a sound and accelerated development, after the great challenges that Iraq faced, which were the reason behind the deterioration of most development sectors, as the need has become great for more real and serious efforts, which are framed by development policies based on transparency, realism and openness.

To implement in accordance with what was adopted by the ministerial platform of the Government of the Republic of Iraq.

He stated: “We, in the Ministry of Planning, have prepared the equipment and are determined to take serious steps towards addressing the problems facing development projects, and we rely a lot on constructive cooperation with our friends in the United States of America in supporting these directions through which we want to develop economic sectors that can contribute to Moving other sectors, and this would provide basic services to citizens, in addition to generating more job opportunities,

noting: “Today we celebrate the signing of the executive agreement for the development goals grant between the Republic of Iraq and the United States of America amounting to more than (547) million dollars.

We express We express our great appreciation for the efforts of the US Ambassador, who was keen to mature and crystallize this agreement in a way that serves the interests of Iraq, and thanks go to the USAID mission, who showed great cooperation in providing a lot of support for Iraq's development efforts in many fields.Ended 29/N33      https://www.mawazin.net/Details.aspx?jimare=212152   

To read more current and reliable Iraqi news please visit BondLady’s Corner:

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Wednesday AM Iraq Economic News Highlights 11-23-22

Wednesday AM Iraq Economic News Highlights 11-23-22

What if the oil disappeared in Iraq?.. An expert expects a devastating scenario for the Iraqi economy

Money and business  Economy News / Baghdad On Tuesday, the economist Nabil Al-Marsoumi presented hypotheses about the end of the oil era in Iraq, and what the Iraqi economy would become after that. Al-Marsoumi said in a Facebook post that the end of the oil era will lead to "a decrease in the gross domestic product by two-thirds and the complete disappearance of Iraqi exports."

He added, "The Iraqi budget does not exceed 10 trillion dinars in size and a complete cessation of government investment," pointing to "the floating of the dinar and the collapse of its exchange rate to catastrophic levels due to the depletion of foreign reserves in the Central Bank of Iraq."

Among the effects of the disappearance of oil, according to the decree, is "the disappearance of the ration card, the suspension of salaries of the social protection network, a huge rise in inflation levels, and a significant rise in electricity and fuel prices after the cancellation of government subsidies."

It will also lead to "a significant deterioration in the purchasing power of those with fixed incomes and an unprecedented rise in poverty and unemployment levels."

He concluded by saying, "Oil covers all Iraqis, not just employees and retirees, and it is a blessing from the Lord of the Worlds, but the defect and imbalance is in not employing part of the oil revenues in diversifying and developing the economy to prepare for the post-oil era."

Views 198   Added 11/22/2022 - 3:03 PM  Updated 11/23/2022 - 1:48 PM

https://economy-news.net/content.php?id=30951

10 “Scary” Results.. What Would Happen If Iraq Had No Oil?

2022-11-22   Yes Iraq: Baghdad  Oil expert and economist Nabil Al-Marsoumi reviewed today, Tuesday, 10 “terrifying” results if Iraq were without oil.

Al-Marsoumi said, in a clarification seen by “Yas Iraq”, that “an Iraq without oil means a decrease in the gross domestic product by two-thirds, the complete disappearance of Iraqi exports, an Iraqi budget of no more than 10 trillion dinars, a complete cessation of government investment, the floating of the dinar and the collapse of its exchange rate to Catastrophic levels due to the depletion of foreign reserves in the Central Bank, the disappearance of the ration card, a massive rise in inflation levels, a significant rise in electricity and fuel prices, a significant deterioration in the purchasing power of those with fixed incomes, and an unprecedented rise in poverty and unemployment levels.

And Al-Marsoumi added, "Oil covers all Iraqis, not just employees and retirees," noting that "the defect and imbalance is in not employing part of the oil revenues in diversifying and developing the economy to prepare for the post-oil phase."   LINK

Iraq Is Fifth In The World In Oil Reserves, The Cheapest To Extract And The Most Profitable

Shafaq News/ Iraq's oil reserves accounted for 8.4 percent of the world's reserves, in addition to the cheapest extraction, according to the British company BP.

The company said, in a report seen by Shafaq News agency, that "Iraq's oil reserves amounted to 145 billion barrels," indicating that "these reserves constitute 8.4 percent of the world's oil reserves."

And she indicated that "Venezuela ranked first with the largest oil reserves in the world, with an amount of 303.8 billion barrels, which constitutes 17.5 percent of the world's reserves, followed by Saudi Arabia with 297.5 billion barrels, and then Canada came third with 168.1 billion barrels, and then Iran came fourth with 157.8 billion barrels, and Iraq came fourth.

Fifth, then Russia came sixth with 107.8 billion barrels, Kuwait came seventh with 101.5 billion barrels, then the UAE came eighth with 97.8 billion barrels, then the United States came ninth with 68.8 billion barrels, and Libya came in tenth place with 48.4 billion barrels.

She explained that "Venezuela has the largest amount of oil reserves in the world with more than 300 billion barrels in reserve, but most of its oil is in the sea or underground and is considered dense, so the cost of extracting oil in Venezuela's reserves using the technology currently available is too high to be profitable, indicating that the oil reserves in Iraq and Saudi Arabia are close to the surface and on the ground, which makes access to oil more accessible and the extraction process more cost-effective and more profitable.   LINK

Thanks To Oil, The Trade Balance Is Tilted Towards Iraq By 78% At The Expense Of China

2022-11-22   Yes Iraq: Baghdad   The Chinese embassy in Iraq revealed today, Tuesday, the volume of trade exchange between the two countries during the 9 months of this year, as it was found that the balance is tilted towards Iraq by 73%.

The Chinese embassy said in tweets on its official website, which was viewed by “Yass Iraq”, that “the volume of trade exchange between Iraq and China from the beginning of this year until September amounted to 38.82 billion dollars, an increase of more than 44%, which makes Iraq the third largest trading partner with China in western Iraq.” Asia and North Africa".

And she added, "Iraq's exports to China of crude oil amounted to 28.6 billion dollars, an increase of more than 50% on an annual basis, which makes Iraq the second largest supplier of oil to China in the West Asia and North Africa region."

Accordingly, this means that Iraq imported more than 10 billion dollars from China during 9 months, at a rate of more than 1.1 billion dollars per month, while it means that Iraq exported oil to China at a value of 3.1 billion dollars per month, that is, it exported more than one million barrels per day to China. LINK

An Expert Expects Oil Prices To Rise To $400 If Russia Stops Exporting Them

Shafaq News/ The oil expert, Hamza Al-Jawahiry, predicted today, Wednesday, that oil prices will rise to $400 if Russia stops exporting crude oil.

Al-Jawahiry said in an interview with Shafaq News agency, "The American and European threats to dispense with Russian oil and gas are just outbids and procrastination in order to put pressure on Russia, indicating that the only people affected by this matter will be Europe and America only."

He added, "Russia's oil production amounts to more than 11 million barrels, and it exports about 7 million barrels, most of which go to Europe, and this quantity is not small, and this quantity cannot be compensated if Russia stops exporting and from any country, whether it is Saudi Arabia, Iraq, or any Gulf country." If these countries meet, they will only compensate for about half of Russia's exports, stressing that Russia's suspension of oil exports will raise oil prices to more than $400 a barrel.

He pointed out that "the oil markets will suffer from a shortage of supplies, and its impact on prices will be very large, and there will be a major economic collapse in Europe."

He stressed that "some European peoples and governments, in particular, look at their interests, and as long as these remain within the scope of the threat only, they will remain silent, but when their interests are damaged, they will not abide by what some countries take to not stop importing oil and gas from Russia."

The European Union is set to ban imports of Russian crude from December 5 and oil products from February 5.

It is also scheduled to meet the ambassadors of the European Union today, Wednesday, with the aim of approving the price ceiling, and it is expected that the diplomats will also discuss the price level at this meeting, and if they support the new proposal, the European Union and the Group of Seven countries may announce the price ceiling this evening.

However, the European Union eased the terms of the proposed sanctions on Russia by imposing a ceiling on the prices of Russian oil exports by postponing its full implementation and easing basic provisions related to shipping work.   Russia threatened to stop exporting oil to any country that sets a ceiling on the prices of its oil exports.   LINK

The Budget And Article 140 Within Nechirvan Barzani's Talks With Muhammad Shia'a Al-Sudani

Posted On2022-11-22 By Sotaliraq    It was reported that the files of the budget and Article 140 of the Iraqi constitution will be among the discussions of the President of the Kurdistan Region, Nechirvan Barzani, with the Iraqi Prime Minister, Muhammad Shia' al-Sudani.

And that today, Tuesday (November 22, 2022), “the President of the Kurdistan Region will discuss, during his meeting in the capital, Baghdad, with the Iraqi Prime Minister, Muhammad Shia’ al-Sudani, the budget files and Article 140 of the Iraqi constitution.”

And "The President of Kurdistan Region, Nechirvan Barzani, was scheduled to stay for two days in Baghdad, but he will conclude his visit today because of the Dohuk incident."

On the other hand, "the President of the Kurdistan Region, Nechirvan Barzani, is also scheduled to meet with the representatives of the Sovereignty Alliance."

For his part, the advisor in the Kurdistan Region Presidency, Dilshad Shihab, told Rudaw Media Network, "In addition to the three Iraqi presidencies, the President of the Kurdistan Region, Nechirvan Barzani, will meet with the State of Law, Al-Fateh and Victory coalition, Faleh Al-Fayyad and Hadi Al-Amiri, to discuss various issues."

It is noteworthy that the President of the Kurdistan Region, Nechirvan Barzani, arrived in the capital, Baghdad, today, Tuesday (November 22, 2022), on a visit during which he discusses the relations and outstanding files between Baghdad and Erbil and the latest developments in the country, with the presidents of the republic, ministers and other officials in the federal government.

The Kurdistan Region Presidency said in a statement, on Tuesday (November 22, 2022), that “Nechirvan Barzani is visiting Baghdad today, and he will meet with the President of the Republic of Iraq, Abd al-Latif Rashid, Prime Minister Muhammad Shia al-Sudani and President of the Supreme Judicial Council, Faiq Zaidan.”

The statement indicated that Nechirvan Barzani "will meet with senior Iraqi officials, forces and political parties, during his visit today, and will discuss with Iraqi officials in Baghdad the Erbil-Baghdad relations and problems, dialogue and efforts to solve them." LINK

Al-Saffar: Approving The Budget Is An Urgent Necessity, And The Legislative Term May Be Extended To Pass It                                          

Political | 10:27 - 11/23/2022  Baghdad - Mawazine News, the rapporteur of the Parliamentary Finance Committee in the former parliament, Ahmed Al-Saffar, said that the visit of the President of the Kurdistan Region, Nechirvan Barzani, to Baghdad "is not related to the budget only, but rather for the purpose of discussing with the political blocs participating in the government regarding the implementation of the terms of the agreement that was signed and the conclusion of the Sudanese government."

Al-Saffar explained, "These issues are not related to the budget, but rather to the legislation of the oil and gas law, the Peshmerga, the disputed areas, and other matters, for the purpose of ending the outstanding problems that have caused confusion between the region and the federal government for years, and this visit is at a high level to put an end to these problems."

With regard to the budget, Al-Saffar said, "There is an intention of the government to present the budget, and if it is not during the current month, the legislative term will be extended until it is approved because it has become an urgent necessity in light of the absence of the budget for the current year 2022 with a large financial abundance," noting that "The government has started implementing its ministerial platform and government program, and there are serious attempts to finalize the draft budget and submit it to the parliament."

And in the event that the budget is not submitted, Al-Saffar stated in an interview with the official newspaper, "Al-Sabah", which was followed by Mawazine News, that "Parliament will enjoy the legislative recess, and it is possible for the Speaker of Parliament to invite members of Parliament to return during the legislative recess for the purpose of approving the budget due to its importance in facilitating the financial and economic matters of the country." ". https://www.mawazin.net/Details.aspx?jimare=212139

Oil Prices.. Brent Crude Settled Below $89 A Barrel

Economie   2022-11-23 | 01:26   329 views  Alsumaria News – Economy  Oil prices stabilized today, Wednesday, with traders awaiting the plan to cap the price of Russian crude and assessing demand expectations in China, which was hit by the Corona virus.

West Texas Intermediate crude was trading up 1 cent to $80.96 a barrel at 04:13 GMT, after rising more than 1% in the previous session.   For its part, Brent crude fell 3 cents to 88.33 dollars.   LINK

The Decline In The Exchange Rates Of The Dollar In The Iraqi Markets Today

Economie   2022-11-23 | 02:31  4,182 views   Alsumaria News – Economy   Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar on the Iraqi local stock exchange for today, Wednesday.

The selling price of the dollar was recorded at 148,500 dinars per 100 dollars, while the buying price of the dollar was 148,400 dinars per 100 dollars.   LINK

Low Gold Prices In The Local Markets

Economie| 12:03 - 11/23/2022   Baghdad - Mawazine News   The prices of foreign and Iraqi gold decreased, today, Wednesday, in the local markets in the capital, Baghdad, slightly.

And the gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, sold 359,000 dinars per weight of 21 karat gold, and the purchase price was 355,000.

And the selling price of one 21-carat weight of Iraqi gold also recorded a slight decrease at 329 thousand dinars, and the purchase price reached 325 thousand.

With regard to gold prices in goldsmiths' shops, the price of selling a 21-carat Gulf gold weight ranges between 360,000 and 370,000 dinars, while the selling price of an Iraqi gold weight ranged between 330,000 and 340,000 dinars.    https://www.mawazin.net/Details.aspx?jimare=212150

"Tidbits From TNT" Wednesday Morning 11-23-2022

TNT:

CandyKisses:  In numbers... an unprecedented value for Iraq's foreign reserves

Tuesday, the financial and economic adviser to the Iraqi government, Mazhar Muhammad Salih, revealed the size of Iraq's foreign reserves.

Salih told (Baghdad Today) that "Iraq's foreign reserves are the highest today in the country's financial history, which amounted to nearly 90 billion dollars," explaining that "their coverage of the exported Iraqi currency also amounted to about 150%, meaning that every dinar is exported to Trading in the economy is now covered by foreign exchange one and a half times.

He added that "what is happening here and there in terms of fluctuations in the exchange rate through the secondary markets are nothing but commercial speculations that occur suddenly and disappear immediately.

Tishwash:  Iraq is fifth in the world in oil reserves, the cheapest to extract and the most profitable

Iraq's oil reserves accounted for 8.4 percent of the world's reserves, in addition to the cheapest extraction, according to the British company BP.

The company said, in a report seen by Shafaq News agency, that "Iraq's oil reserves amounted to 145 billion barrels," indicating that "these reserves constitute 8.4 percent of the world's oil reserves."

And she indicated that "Venezuela ranked first with the largest oil reserves in the world, with an amount of 303.8 billion barrels, which constitutes 17.5 percent of the world's reserves, followed by Saudi Arabia with 297.5 billion barrels, and then Canada came third with 168.1 billion barrels

And then Iran came fourth with 157.8 billion barrels, and Iraq came fourth. Fifth, then Russia came sixth with 107.8 billion barrels, Kuwait came seventh with 101.5 billion barrels, then the UAE came eighth with 97.8 billion barrels, then the United States came ninth with 68.8 billion barrels, and Libya came in tenth place with 48.4 billion barrels.

She explained that "Venezuela has the largest amount of oil reserves in the world with more than 300 billion barrels in reserve, but most of its oil is in the sea or underground and is considered dense, so the cost of extracting oil in Venezuela's reserves using the technology currently available is too high to be profitable, indicating that the oil reserves in Iraq and Saudi Arabia are close to the surface and on the ground, which makes access to oil more accessible and the extraction process more cost-effective and more profitable.  link

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Tishwash:  Al-Saffar: Approving the budget is an urgent necessity, and the legislative term may be extended to pass it

The rapporteur of the Parliamentary Finance Committee in the former parliament, Ahmed Al-Saffar, said that the visit of the President of the Kurdistan Region, Nechirvan Barzani, to Baghdad "is not related to the budget only, but rather for the purpose of discussing with the political blocs participating in the government regarding the implementation of the terms of the agreement that was signed and the conclusion of the Sudanese government."

Al-Saffar explained, "These issues are not related to the budget, but rather to the legislation of the oil and gas law, the Peshmerga, the disputed areas, and other matters, for the purpose of ending the outstanding problems that have caused confusion between the region and the federal government for years, and this visit is at a high level to put an end to these problems."

With regard to the budget, Al-Saffar said, "There is an intention of the government to present the budget, and if it is not during the current month, the legislative term will be extended until it is approved because it has become an urgent necessity in light of the absence of the budget for the current year 2022 with a large financial abundance," noting that "The government has started implementing its ministerial platform and government program, and there are serious attempts to finalize the draft budget and submit it to the parliament."

And in the event that the budget is not submitted, Al-Saffar stated in an interview with the official newspaper, "Al-Sabah", which was followed by Mawazine News, that "Parliament will enjoy the legislative recess, and it is possible for the Speaker of Parliament to invite members of Parliament to return during the legislative recess for the purpose of approving the budget due to its importance in facilitating the financial and economic matters of the country."  link

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Tishwash: I bet this will make them happy

Official report: Kurdistan's share in the 2023 budget will rise to 25%

The Iraqi people, along with the political and parliamentary blocs, are awaiting the government’s announcement of the completion of the federal general budget for the next year 2023 in order to implement the bulk of the government program in providing services, appointments and other entitlements, and while observers confirm that all budgets in previous years were governed by political agreements, they saw that the visit The President of the Kurdistan Region to Baghdad does not concern the issue of the budget only, but also other issues pending with the center.

And the rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, believes in an interview with "Al-Sabah" that the visit of the President of the Kurdistan Region, Nechirvan Barzani, to Baghdad "is not related to the budget only, but rather for the purpose of discussing with the political blocs participating in the government regarding the implementation of the terms of the agreement that was signed and the exit government of the Sudanese Prime Minister.

 He explained that "these issues are not related to the budget, but to the legislation of the oil and gas law, the Peshmerga, the disputed areas and other matters, for the purpose of ending the outstanding problems that have caused confusion between the region and the federal government for years, and this visit is at a high level to put an end to these problems."

With regard to the budget, Al-Saffar believes: "There is an intention by the government to present the budget, and if it is not during the current month, the legislative term will be extended until it is approved because it has become an urgent necessity in light of the absence of the current year 2022 budget with a large financial abundance," noting that "The government has started implementing its ministerial platform and government program, and there are serious attempts to finalize the draft budget and submit it to Parliament

 And in the event that the budget is not presented, Al-Saffar indicated: “Parliament will enjoy the legislative recess, and it is possible for the Speaker of Parliament to invite members of Parliament to return during the legislative recess for the purpose of approving the budget due to its importance in facilitating the financial and economic matters of the country.”

For his part, the financial expert, Obaid Mahal, explained in an interview with "Al-Sabah": "The budget is governed by the constitution, and it is assumed that there will be a lot of discussions that have been decided outside the budget and not through it," and that "many see that the budget is a place for setting laws Or to conclude agreements, and because of this concept, many problems arise regarding the misunderstanding of the budget. Regarding Nechirvan Barzani's visit to Baghdad, Mahal believes that "the problem is related to the absence of the rule of law and the predominance of political agreements over it, and if we were dealing with the law and the constitution, everything would be clear and specific and would be implemented based on legislative provisions, and we do not need annually to address these problems outside the law." since 2004".

In turn, the analyst on international affairs, Haider Salman, said in an interview with "Al-Sabah": "The visits of Kurdish officials escalate during the period of distributing sovereign positions, as happened in the position of the President of the Republic, and this always happens in the budget stage."

He added, "The fact indicates that Nechirvan Barzani's visit confirms the imminent launch of the general budget, and therefore this visit is to guarantee the Kurdish share in light of the non-payment of their dues for many years with the change of alliances."

 He pointed out that "this visit will be fleeting and part of it will not be announced, especially with regard to the visit of the heads of the blocs to reach the Kurdish share of 17% in addition to the salaries of the Peshmerga and employees, so that the Kurds' share in the general budget will be from 20 to 25%, and the budget may be submitted according to A prior political agreement is being confirmed.    link 

Mot: ........ Don't Forget This is the Week to Change it Back!!

Mot: ~ Be Advised that Walmart ...........

More Iraqi News Highlights Tuesday Evening 11-22-22

More Iraqi News Highlights Tuesday Evening 11-22-22

Tlm724 Administrator Bondlady’s Corner

The President Of The Republic Stresses To Nechirvan Barzani The Necessity Of Adopting Dialogue Regarding The Differences Between Erbil And Baghdad

Money and business   Economy News / Baghdad  Today, Tuesday, the President of the Republic, Abd al-Latif Jamal Rashid, and the President of the Kurdistan Region, Nechirvan Barzani, stressed the need for concerted efforts to preserve the country's stability and sovereignty, while stressing the importance of adopting dialogue on files between Baghdad and Erbil.

The Presidency of the Republic said in a statement that "The President of the Republic, Abd al-Latif Jamal Rashid, received today, at the Baghdad Palace, the President of the Kurdistan Region, Nechirvan Barzani, and his accompanying delegation," noting that "the issue of the displaced and the difficult living conditions they suffer from in the displacement camps were discussed, and an agreement was reached."

The need for joint action to improve their living conditions, and to make joint efforts to ensure a safe and stable return of all displaced persons to their homes and cities.

She added that "developments in the security, political and economic conditions were discussed, and support for the federal government's steps in implementing its program, which aims to meet the citizens' need to improve living and service conditions," noting that "relations with neighboring countries were discussed, which must be built on the basis of mutual respect and common interests." And the emphasis on concerted efforts to preserve Iraq's stability and sovereignty.

With regard to efforts to combat terrorism and confront ISIS gangs, the statement stated that "the importance of coordination and joint cooperation between all security forces was emphasized to eliminate hotbeds of terrorism and dry up its sources in a way that preserves the lives of citizens and protects their property and human rights."

On the outstanding issues between the federal government and the regional government, "President of the Republic Abdul Latif Jamal Rashid and President of the Kurdistan Region Nechirvan Barzani stressed the need to adopt constructive dialogue and expedite the approval of pending laws in the Iraqi parliament, and to reach solutions in accordance with the constitution and the law that achieve social justice and equality among all components of the people and meet their needs.” Ended/25 h

Views 80  Added 11/22/2022 - 3:47 PM   Updated 11/22/2022 - 6:15 PM

https://economy-news.net/content.php?id=30953

The Dollar Rises Against The Iraqi Dinar

Economie| 10:18 - 11/22/2022   Baghdad - Mawazine News  The exchange rates of the dollar rose today, Tuesday, on the Iraqi Stock Exchange.

The selling price of the dollar was recorded at 148,900 dinars per 100 dollars, while the buying price of the dollar was 148,800 dinars per 100 dollars. Ended 29/M99

https://www.mawazin.net/Details.aspx?jimare=212031

The Director Of Al-Rafidain Bank Undertakes His Duties And Directs The Automation Of Banking Operations

Drains   Economy News – Baghdad Today, Tuesday, the Director General of Al-Rafidain Bank, Ali Karim Hussein, assumed his duties in managing the bank.

The bank's media office said in a statement, "The new general manager held an extensive meeting with department managers, welcomed the attendees, and listened to a detailed explanation of the nature and tasks of each department's work."

He stressed "the necessity of everyone's cooperation, overcoming obstacles and problems, providing services to customers, facilitating the completion and completion of their transactions as quickly as possible, and simplifying procedures away from routine," directing "to redouble efforts and work to advance and develop banking work, keep pace with modern technology, and automate banking operations."   Views 93   Added 11/22/2022 - 2:15 PM   Updated 11/22/2022 - 6:18 PM

https://economy-news.net/content.php?id=30949

High Oil Prices In World Markets

Economie| 08:56 - 11/22/2022   Follow-up - Mawazine News  Oil prices rose in early Asian trading, on Tuesday, a day after Saudi Arabia, the main member of OPEC, denied an increase in oil supply.

Brent crude futures rose 52 cents, or 0.59%, to $87.97 by 04:07 GMT.   Likewise, US West Texas Intermediate (WTI) crude futures rose, by 28 cents, to $80.27 a barrel. Ended 29/N33     https://www.mawazin.net/Details.aspx?jimare=212015

Blaskhart comments on the repeated Iranian attacks on the Kurdistan region

Political | 05:27 - 11/22/2022  Baghdad - Mawazine News, the head of the United Nations Mission in Iraq, Jeanine Plasschaert, confirmed that the repeated Iranian attacks cannot be tolerated.

"Unfortunately, we cannot help but repeat what we have said. The continued Iranian attacks cannot be tolerated," Blaskhart said in a tweet, followed by Mawazine News.

And she added, "Iraq must work in a unified manner so as not to give way to more hostilities," noting that "strength abroad begins with unity at home." Ended 29 / H

https://www.mawazin.net/Details.aspx?jimare=212078

The Anti-Corruption Commission Is Investigating The Transfer Of Balances Deposited In Lebanese Banks

Local | 01:21 - 11/22/2022   Baghdad - Mawazine News  The Federal Integrity Commission announced, today, Tuesday, that the Supreme Commission for Combating Corruption has initiated an investigation into the process of transferring balances deposited in Lebanese banks, while it indicated that the preliminary investigations resulted in bringing in officials in the Rafidain Bank and summoning others in the Central Bank.

In a statement, which Mawazine News received a copy of, the commission said, "The High Commission for Combating Corruption has initiated the first investigation case, which is the process of transferring balances deposited in Lebanese banks to Al-Rafidain Bank in Beirut."

The Supreme Commission stated, according to the statement, that it is “investigating suspicions of corruption in the process of transferring funds, in addition to the bank account of the Rasheed Bank in the Central Bank of Lebanon,” noting that “the investigating judge of the Central Anti-Corruption Criminal Court issued, based on its investigations into the case, orders to bring in the general manager.”

To the former Rafidain Bank and its assistant, against the background of suspicions of corruption in the process of transferring balances deposited in Lebanese banks, while he decided to summon other officials in the Central Bank.

And she pointed out that "the recruitment order issued in accordance with the provisions of Article (340) of the Penal Code, was followed by the issuance of an order to stop the transfer of funds to the Rafidain and Rasheed banks, stressing that it will inform the public of developments in the progress of the investigation in the case and the decisions of judgments issued by the judiciary against the accused, as permitted by law and not breach the confidentiality of the investigation.”

Article (340) of the Iraqi Penal Code stipulates that: “Any public employee or person assigned to a public service who willfully causes damage to the funds or interests of the entity in which he works or is connected by virtue of his position or with the funds of the persons entrusted to him shall be punished with imprisonment for a period not exceeding seven years or with imprisonment.” Ended 29/AD 99

https://www.mawazin.net/Details.aspx?jimare=212049

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Iraqi News Highlights Tuesday Afternoon 11-22-22

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The Ministerial Council Of Economy Directs The Completion Of The Draft Budget Law For Discussion In The Next Session

Economie| 03:55 - 11/22/2022    Baghdad - Mawazine News  , Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein directed, on Tuesday, the minister to complete the draft of the state's general budget law in order to discuss it in the next session of the parliament.

The Ministry of Foreign Affairs stated in a statement, which Mawazine News received a copy of, that "Hussein chaired the second meeting of the Ministerial Council for the Economy, in the presence of the Ministers of Planning, Finance, Industry, Trade, Agriculture, the Governor of the Central Bank of Iraq, the Acting Chairman of the National Investment Commission, and the Prime Minister's Advisor for Affairs. economic and legal.

She added, "The council hosted the Minister of Electricity, to discuss the reality of service in this important sector, as well as to overcome difficulties in order to upgrade it. The council also discussed many economic issues on its agenda.

At the end of the meeting, the Minister of Foreign Affairs directed, "to complete the draft law of the state's general budget in order to discuss it in the next session of the Council." Ended 29 / h.

https://www.mawazin.net/Details.aspx?jimare=212066

World Bank: The Government Has A New Opportunity For Necessary Economic Reforms

Posted On2022-11-22 By Sotaliraq    Translated by / Hamed Ahmed   A new report of the Iraq Economic Observatory of the World Bank stated that the Iraqi economy is currently witnessing a recovery due to the increase in production accompanied by the rise in oil prices, indicating at the same time that while Iraq is considered among the countries in the world most dependent on oil in its economy, it is without radical structural reforms and diversification of the sources of the economy This leaves him vulnerable to the consequences of fluctuating crude prices in the global market.

The report stated that after the economic growth rate in Iraq expanded during the year 2021 by 2.8%, the annual GDP growth of the country increased during the first half of 2022 to 10.5%. Higher oil revenues resulting from the increase in export quantities and prices have strengthened the country's financial position. in a big way.

Despite several reform initiatives in the country, Iraq is still one of the most dependent countries on oil in the world. High dependence on oil coupled with mismanagement leaves Iraq vulnerable to fluctuating oil prices, and although oil is the source of most of the government's resources, the oil sector occupies only 1% of the labor force in Iraq.

The public sector is the largest official place of employment, accounting for 37.9 percent of the country's workforce. As for the private sector, it is still a poor, informal sector that is stunted from growth. The report confirms that the legacy of conflicts, political instability, and poor management of state institutions has increased the decline in investment in this sector and hampered its growth.

The report indicates that the new government’s assumption of its duties in October 2022 represents a new opportunity to implement reforms in order to diversify the sources of the economy, taking advantage of the good financial situation that it now enjoys to achieve a sustainable growth path that is able to withstand the shocks of fluctuating oil prices and the growing challenges of climate change crises in the country. .

Preserving part of the oil revenues to face any decline in economic activity is crucial to achieving sustainable growth, and laxity in the economic reform process during this period would deepen the structural economic challenges.

The report states that the absence of approving the 2022 budget has hindered taking advantage of the rise in oil prices to implement new investment projects. In addition, with a weak business environment, inefficiency in public sector investment, mismanagement, corruption, and lack of adequate infrastructure, all these factors constitute major obstacles to attracting foreign investment, despite some progress in recent years.

The white reform paper prepared by the previous government had included measures to improve the public investment network and redefine the public investment management system based on the best international experiences in this field, but so far these plans have not been fully implemented.

With regard to the consequences of climate change, the report indicated that Iraq is exposed to direct and indirect effects of this issue, as the increase in water scarcity and the decrease in agricultural crops are problems that affect the rate of economic growth and increase the risks of food security, and that this has an additional impact on the socio-economic challenges for the people of the country.

The report calls for the adoption of effective measures to cope with climate change, focusing on better ways of using the water allocated to agriculture for the purpose of its sustainability, which contributes to the continuity of economic income for farmers and the provision of job opportunities while maintaining food security at the same time. To achieve this, there are three main points; It is improving infrastructure, enhancing innovation and developing administrative work.

These challenges are getting more severe as the country remains completely dependent in its economy on oil only, which leaves that country vulnerable to new economic risks amid the world's trend towards non-carbon alternative energy, whereby oil loses its role at this stage as a source of imports with the decline in demand for it.   LINK

aleb Makhaif, confirmed today, Tuesday, that the bank faced the financial challenges that Iraq went through with measures that moved the wheel of the economy, while referring to the expansion of relations with international banks in the interest of the country.

A statement issued by the Central Bank, received by the National News Center, said, "Today, the governor received the Ambassador of the United States of America to Iraq, Alina Romanowski, in the presence of the President of the Iraqi Trade Bank. During the meeting, they discussed aspects of bilateral cooperation, developing work in the Iraqi banking sector, and applying international standards to combat money laundering Money and terrorist financing.

He added, "The bank pays great attention to developing the banking sector in the country and keeping pace with the developments it is witnessing globally," pointing to "strengthening foreign relations with the banks of the countries of the world to serve the interest of Iraq."


The statement stated that “the Central Bank of Iraq faced the financial challenges that the country witnessed by launching a package of measures that contributed to moving the wheel of the Iraqi economy,” noting that “our development initiatives that targeted vital and effective sectors in Iraqi society revived the economy and provided many job opportunities for different segments.” .

In turn, the US ambassador praised the procedures of the Central Bank of Iraq and its cooperation with international bodies and concerned organizations, and the modern methods and methods used in its work in terms of electronic technologies, as well as keeping pace with the global development in the banking sector.      https://nnciraq.com/166860/

The head of Al-Fateh Alliance calls on the giant Japanese companies to contribute to building Iraq

Tuesday 22, November 2022 16:54 | Economical Number of readings: 140  Baghdad / NINA / - The head of the Al-Fateh Alliance, Hadi Al-Amiri called, on Tuesday, the giant Japanese companies to contribute to building Iraq.

And his media office stated in a statement: "Al-Amiri met in his office with the Japanese ambassador in Baghdad, Matsumoto Hotoshi, to discuss strengthening relations between Baghdad and Tokyo and increasing cooperation at all levels to serve the two countries, especially in the field of investment."

And Al-Amiri expressed his "hope for the contribution of the giant Japanese companies that built their country after World War II in building Iraq, rehabilitating its facilities, and benefiting from their experience and expertise in reconstruction and development."

He pointed out, "Iraq has a suitable environment for investment, criticizing the unprofessionalism of some media outlets that exaggerate drawing a bad and unrealistic picture of the security situation in Iraq."

In turn, Hotoshi explained that he "received many requests from Japanese companies to invest in Iraq, indicating the existence of many challenges, most notably the need for an encouraging environment for these companies to enter to work inside Iraq." https://ninanews.com/Website/News/Details?key=1015723

The Country Needs An Economic Renaissance Through Investing In Major Projects And With An International Partnership

Amer Al-Jawahiry to / NINA /: Tuesday 22, November 2022 11:13 | EconomicalNumber of readings: 310

Baghdad / NINA / - The consultant on economic development and investment, Amer Al-Jawahiry, stressed the country's need for a major economic renaissance.

He told the National Iraqi News Agency ( NINA ) that the country's economy cannot be advanced without major investment projects that generate money in order to gradually reduce dependence on oil as a sole resource for the annual budget.

Al-Jawahiri added that the first signs of this renaissance are the establishment of major joint investment projects with the countries of the region and other countries, in addition to activating the agreements concluded, especially with China.

He explained: Among the major projects is the Nibras Petrochemical Project, in partnership with the global Shell company, which must be activated by setting a specific time period for its completion./    https://ninanews.com/Website/News/Details?Key=1015640

Parliamentary Integrity Announces The Imminent Announcement Of The Report On The "Theft Of The Century"

Money and business   Economy News – Baghdad The Parliamentary Integrity Committee announced, on Tuesday, that the report on the "theft of the century" will soon be announced.

Committee member Raad Al-Dahlaki said, "The Integrity Committee formed a sub-committee to follow up on the so-called theft of the century, to uncover the money that was stolen," noting that "the committee continues to host officials and directors of relevant institutions that are related to the case."

He added, "The hostings that the committee conducts on a daily basis, and the report on the case will be read before the House of Representatives in the coming days and referred to the government," noting that "the report contains many circumstances and clarification for public opinion and the fate of the money and how it was stolen."

And he continued, "There is great cooperation between the government, the House of Representatives, and the Integrity Committee, with continued communication with the Prime Minister," noting that "the Prime Minister directed the executive authorities to cooperate with the Integrity Committee to deliver everything they need regarding the issue," according to the official news agency.

Views 97   Added 11/22/2022 - 12:19 PM  Updated 11/22/2022 - 4:51 PM

https://economy-news.net/content.php?id=30944

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Tuesday AM Iraq CBI News Highlights 11-22-22

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A Statement From The Central Bank Regarding The Launch Of The 20,000 Dinars Category

money and business   Economy News-Baghdad    The Central Bank of Iraq announced that it is still too early to launch a currency of 20,000 dinars into circulation.

An official source in the bank said in a statement to the official newspaper, "The bank is still in the process of preparing to study, design, and the extent of the impact of that currency on Iraqi society," noting that it is too early to print it and release it for circulation during the next near stage.

And he indicated that "the issuance of this paper will improve the national chain of banknotes, in addition to that it will add an intermediate category of banknotes, which will facilitate cash circulation among citizens."

The source confirmed that "no old cash categories will be withdrawn, and this category will be added to the rest of the categories with the aim of improving and enriching cash circulation."

And he pointed out that "the bank is in the process of understanding and agreeing with the discreet printing houses to choose the colors and security characteristics of the papers and other technical and procedural details."    Views 153   Added 11/21/2022 - 9:48 AM   Updated 11/21/2022 - 2:27 PM

https://economy-news.net/content.php?id=30923

Most Of Them Are Foreign Transfers.. The Iraqi Central Bank's Sales Drop To Less Than $100 Million

2022-11-22 05:27    Shafaq News/ The Central Bank's dollar sales decreased, on Tuesday, to less than $100 million, with the participation of 31 banks.

Shafaq News agency reporter stated, "The Central Bank sold today, during its auction for buying and selling US dollars, 96 million 552 thousand and 502 dollars, which the bank covered at a basic exchange rate of 1460 dinars per dollar, after sales on Monday were 152 million dollars.

Our correspondent added that most of these sales went to consolidate the balances abroad in the form of transfers and credits, amounting to 67 million and 702 thousand and 502 dollars, while the rest went in the form of cash sales, which amounted to 28 million and 850 thousand dollars.

Our correspondent indicated that 18 banks have met requests to consolidate balances abroad, and 13 banks have met cash requests, in addition to 182 financial intermediation companies.   LINK

Vice Reveals The Reason For The Decline In Central Bank Sales

1,072  Today, Sunday, the deputy of the State of Law coalition, Muhammad Al-Shammari, attributed the decrease in the central bank’s sales of dollars in the currency sale auction to the new government’s control of currency smuggling and money laundering.

Al-Shammari said in a press interview, which was seen by “Takadam”, that “the decrease in the central bank’s sales of dollars in the currency auction occurred after controlling and laundering all the money that was entering the category of smuggling,” stressing that “the Sudanese made a correct start by standing in the face of all those He was making profits from selling hard currency for very high amounts, especially in the recent period.”

He added, "The features of the work of the new government began to appear through a number of files that were dealt with in the period that followed the previous caretaker government."

He pointed out that "there are many officials who have been dismissed or held accountable for all the files that were hacked in the caretaker government headed by Mustafa Al-Kazemi."

https://takadum-news.com/archives/132501

Deputy For The Rule Of Law Reveals The Reason For The Decline In Sales Of The Central Bank

Economie  22:43 - 2022-11-20   Today, Sunday, the deputy of the State of Law coalition, Muhammad Al-Shammari, attributed the decrease in the central bank’s sales of dollars in the currency sale auction to the new government’s control of currency smuggling and money laundering.

Al-Shammari said, "The decrease in the central bank's sales of dollars in the currency auction occurred after controlling and laundering all the money that was entering the field of smuggling," stressing that "the Sudanese made a correct start by standing in the face of everyone who was reaping profits from selling hard currency in sums." very high, especially in the recent period.

He added, "The features of the work of the new government began to appear through a number of files that were dealt with in the period that followed the previous caretaker government."

He pointed out that "there are many officials who have been dismissed or held accountable for all the files that were hacked in the caretaker government headed by Mustafa Al-Kazemi."

https://kirkuktv.net/AR/Details/10839

Bank Sales Rise To More Than $150 Million

Shafaq News/ The Central Bank's dollar sales rose, on Monday, to more than 150 million dollars.

Shafaq News agency reporter stated, "The Central Bank sold today, during its auction for the sale and purchase of US dollars, 152 million and 435 thousand dollars, which the bank covered at a basic exchange rate of 1460 dinars per dollar, after the sales of yesterday, Sunday, were 108 million dollars.

Our correspondent added that most of these sales went to consolidate the balances abroad in the form of transfers and credits, amounting to 119 million and 35 thousand dollars, while the rest went in the form of cash sales, which amounted to 38 million and 400 thousand dollars.

Our correspondent indicated that 18 banks have met requests to consolidate balances abroad, and 16 banks have met cash requests, in addition to 117 mediation companies.   LINK

Al-Nusairi Announces The Release Of His New Book, "The Central Bank Of Iraq...The Journey Of Challenges And Achievements 2003-2022"

Money and business   Economy News-Baghdad    On Monday, the economic and banking advisor to the Association of Iraqi Private Banks, Samir Al-Nusairi, announced the issuance of his new book tagged (The Central Bank of Iraq..The Journey of Challenges and Achievements 2003-2022) by the Palette Center for Printing and Publishing on the occasion of the 75th anniversary of the founding of the Central Bank of Iraq, which happened last week.

Al-Nusairi, accompanied by Ali Tariq, Executive Director of the Association of Banks, visited the Governor of the Central Bank and gave him the first copy of the book.

The governor and the president of the association praised the efforts exerted in writing the book and gave thanks and appreciation to Al-Nusairi for his role in documenting the march of challenges and achievements of the Central Bank and the banking sector in supporting, stimulating and revitalizing the national economy over twenty years.

The book (the document) included 10 chapters, 40 topics, and appendices to documents, controls, regulations, strategies, data, tables, and statistical figures, with a total of 450 pages.

The book reviews the challenges that the Central Bank of Iraq faced during twenty years, the policies, programs and strategies it adopted and the achievements that achieved its goals contained in its effective law 56 of 2004 and the contribution of rational applications of monetary policy to achieving growth and stability in the monetary system in conditions of economic stagnation and financial crises and building an adequate precautionary foreign cash reserve and controlling Money supply, maintaining the stability of the exchange rate, improving the balance of payments, stabilizing the general level of prices, and reducing inflation.

The Central Bank had an important role in stimulating, supporting and revitalizing the economy by rediscounting treasury bonds and launching and following up the implementation of its financing initiatives in financing small, medium, housing and investment projects.

It is noteworthy that this book is the eleventh by the author, and that all these books discuss the fields of economic, banking and documentation reform.

Al-Nusairi announces the release of his new book, "The Central Bank of Iraq...The Journey of Challen WhatsApp%20Image%202022-11-21%20at%2011_33_25%20AM%20(1)

Views 82   Added 11/21/2022 - 11:39 AM  Updated 11/21/2022 - 2:27 PM

https://economy-news.net/content.php?id=30926

"Tidbits From TNT" Tuesday Morning 11-22-2022

TNT:

Tishwash:  Amer Al-Jawahiry: The country needs an economic renaissance through investing in major projects and with an international partnership

The consultant in economic development and investment, Amer Al-Jawahiri, stressed the country's need for a major economic renaissance.

He told the National Iraqi News Agency ( NINA ) that the country's economy cannot be advanced without major investment projects that generate money in order to gradually reduce dependence on oil as the only resource for the annual budget.

Al-Jawahiry added that the first signs of this renaissance are the establishment of major joint investment projects with the countries of the region and other countries, in addition to activating the agreements concluded, especially with China.

He explained: Among the major projects is the Nibras Petrochemical Project, in partnership with the global Shell company, which must be activated by setting a specific time period for its completion. link

Tishwash:  The director of Al-Rafidain Bank undertakes his duties and directs the automation of banking operations

Today, Tuesday, the Director General of Al-Rafidain Bank, Ali Karim Hussein, assumed his duties in managing the bank.

The bank's media office said in a statement, "The new general manager held an extensive meeting with department managers, welcomed the attendees, and listened to a detailed explanation of the nature and tasks of each department's work."

He stressed "the necessity of everyone's cooperation, overcoming obstacles and problems, providing services to customers, facilitating the completion and completion of their transactions as quickly as possible, and simplifying procedures away from routine," directing "to redouble efforts and work to advance and develop banking work, keep pace with modern technology, and automate banking operations     link

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Tishwash:  Central Bank: The property of the 'bankrupt' Tigris and Euphrates Bank will be distributed to depositors

A member of Parliament, Nermin Maarouf, confirmed that the ownership of the Tigris and Euphrates Bank will be distributed to depositors and institutions that own sums of money in the bank.   

Representative Maarouf said in a statement, which "NAS" received a copy of (November 21, 2022), that "in order to follow up on the rights of citizens and institutions that have bank accounts with banks operating in the Kurdistan Region that are bankrupt, such as the Bank of the Tigris and Euphrates. I wrote to the Central Bank asking for clarification regarding its procedures." with these banks.  

And she added, “In response, the Central Bank clarified in writing 9/3/29374 on 11/16/2022 that after registering the requests of all account holders and depositors with the bank and later, the money they earn from selling the bank’s property will be distributed to account holders and bank accounts under Article 92.” of Banking Law No. 94 of 2004.   link

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Tishwash:  Adopting a new exchange rate in Lebanon, starting from February

The Governor of the Central Bank of Lebanon, Riad Salameh, said that the bank will adopt an exchange rate of 15,000 pounds to the dollar, starting from the first of February, as part of a process to unify the multiple exchange rate system in the country.

Salameh said in a statement, "We entered the stage of unifying exchange rates, and this started with the customs dollar that the Ministry of Finance decides on, along with other fees and taxes."

Regarding the reality of exchange rates starting in February, he explained that "we will have two rates, the 15,000 and the exchange rate. Unifying the exchange rate cannot be achieved in one fell swoop, so this will be the first stage until the exchange becomes the one that determines the price."

And whether this measure would lead to a raise or a decrease in the exchange rate, he said, "The market is then the one that determines according to supply and demand, but the Banque du Liban will be on the lookout."

He revealed, "In light of the recent statistics at the Banque du Liban, it was found that there will be a growth in the Lebanese economy in the year 2022 by about 2 percent. The import movement increased, and we witnessed an economic movement last summer. The problem is in the public sector, which creates a burden on the economy."

It is noteworthy that the official exchange rate currently applied by the Central Bank is 1,500 pounds to the dollar, a rate that has become completely non-existent since the internal financial collapse in 2019, which led to the currency losing more than 95% of its value.
              
The exchange rate in the parallel market is about 39,000 pounds per dollar  link

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