Iraqi News Highlights Thursday Afternoon 8-31-23
Tlm724 Administrator Bondlady’s Corner
High Oil Prices Thanks To The Shortage Of American Supplies
Thursday 31 August 2023 | Economical Number of readings: 296 Baghdad / NINA / – International oil prices rose in early trading, today, Thursday, supported by the scarcity of US supplies, and at the same time, attention is drawn to factory activity data in China, which will be issued later today, amid data on weak economic expansion in the second largest economy in the world. .
Brent crude futures for October delivery (which expires today) rose 14 cents, or 0.16 percent, to reach $86 a barrel. November contracts, the most active, rose by 10 cents, or 0.12 percent, to $85.34.
West Texas Intermediate crude futures increased by 10 cents, or 0.13 percent, to $81.74.
Prices rose this week thanks to US government data that showed a drop in crude supplies more than expected, as well as developments in Gabon, a member of the Organization of the Petroleum Exporting Countries (OPEC), which raised fears of disruption to oil supplies and provided additional support for prices on Wednesday. https://ninanews.com/Website/News/Details?key=1074543
The Stability Of Dollar Prices In Baghdad With The Closing Of The Stock Exchange
Economy Thursday, August 31, 2023 Baghdad / The National News Center The US dollar prices stabilized against the Iraqi dinar, today, Thursday, in the Baghdad markets, with the closing of the stock exchange.
The correspondent of the National News Center said, “The dollar prices stabilized with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, to record 153,000 Iraqi dinars against 100 dollars, while the prices this morning were 153,100 dinars.”
He added, “The selling prices in exchange shops in the local markets in Baghdad have stabilized, as the selling price reached 153,500 dinars, while the purchase price reached 152,500 dinars for every 100 dollars.” https://nnciraq.com/224377/
Central Bank Sales Amounted To More Than 201 Million Dollars
Economy News-Baghdad Today, Thursday, sales of the Central Bank of Iraq in the foreign currency sale window amounted to more than 201 million dollars.
The Central Bank’s website published a table of its dollar sales, and “Al-Iqtisad News” reviewed it, as it included the participation of 28 banks and 91 exchange companies, and covered external transfer requests of $154.5 million, while cash requests amounted to more than $46.5 million.
And the Central Bank of Iraq sells the dollar for documentary credits and international settlements of electronic cards at a price of 1305 dinars per dollar, per dollar for documentary credits and international settlements of electronic cards and at a price of 1310 dinars per dollar for external transfers and at a price of 1310 dinars per dollar in cash.
Views 33 08/31/2023 – https://economy-news.net/content.php?id=36104
The Iraq Stock Exchange.. Trading Indicators Of Joint-Stock Companies Rose 38% In August
Market Economy News-Baghdad The Iraqi Stock Exchange announced, on Thursday, the trading indicators for the shares of joint-stock companies for the month of August 2023
The Executive Director of the market, Taha Ahmed Abdel Salam, said in a statement that the Iraq Stock Exchange organized (23) trading sessions for the shares of the listed (103) Iraqi joint-stock companies during the month of August 2023.
The number of trading days was (23) trading session. The number for the current year, up to August 31, reached (159) sessions, which represents (67%) of the number of days planned for the year 2023, which correspond to the official working days.
The number of traded shares was (67 billion shares). The number for the current year, until August 31, reached (475) billion shares, which represents (84%) of their number for the year 2022.
The value of traded shares amounted to (444) billion dinars. For the current year, up to August 31, it amounted to (371) billion dinars. It represents (85%) of its value for the year 2022.
The ISX60 traded stock price index closed at (809.Cool points. Compared to the close of 2022, the index increased at the close of August 2023 by (38%). Compared to the close of July 2023, the index increased for August 2023 by (13%). Views 64 08/31/2023 https://economy-news.net/content.php?id=36108
Trade: The Window For Electronic Registration Of Companies Has Met With Wide Acceptance And Success
Money and business Economy News _ Baghdad Today, Thursday, the Ministry of Commerce confirmed that the electronic registration window for companies has met with wide acceptance and success, while indicating the adoption of a mechanism for selling cars that achieved 8 percent profits.
A spokesman for the Ministry of Commerce, Muthanna Jabbar, said in an interview with the Iraqi News Agency, followed by “Al-Iqtisad News”, that “there is a promising program that is being followed up by the government, and it was an initiative of the Prime Minister’s Office to automate and create a window for registering companies according to complaints submitted by lawyers and many company owners.”
Pointing out that “there is an electronic registration program in the world that starts from an electronic window and ends with the applicant obtaining a registration or creating a company, and ends with results through the window.”
Jabbar added, “The Ministry of Commerce has started relying on this program, and it has been activated and implemented for more than two years, in addition to having met with wide acceptance and success,” noting that “the archive in the Registrar of Companies, which has more than 45,000 registered companies, has been transferred and archived from The approved paper-based systems to the electronic systems lasted two years and were not completed until the end.
He pointed out that “6 months ago, the applicant who wanted to register a company, add an activity, transfer, sell, or exit one of the founders, through the electronic window and through the approved program,” expressing his hope for “the ratification of the electronic signatures law, to overcome all obstacles that It is possible that you will face the company and its electronic window.”
Regarding the sale of cars, Jabbar said, “The General Company for Car Trade has gone through periods similar to the ebb and flow, as after all cars were purchased through the company that used to adopt Japanese, German and American origins, the purchase turned today to a competitive market and a change in the purchase policy.”
He continued, “Iraq’s openness to the free market took the advantage of the number that was enjoyed by the General Motors Company, as it was granting the number directly with the car, but now its capabilities have been transferred to the private sector, which has freedom of decision and negotiation, in addition to being not bound by the Iraqi standard, although The opposite of the General Motors Company.
He pointed out, “The existence of partnerships between the General Motors Company and the private sector by the fact of selling on a disposal fee that achieves a profit of 8 percent for the company and the rest for the private sector.
And he added, “Now the company has offers in installments for a group of cars, including (Sunny) cars with an engine size of 1300, at a good price and very low installments, in agreement with Iraqi banks that are sold to employees and holders of electronic payment cards, and everyone can enter the company’s website and know its offers.” He stressed that “there is a good turnout, especially since the number of cars is available.” Views 46 08/31/2023 https://economy-news.net/content.php?id=36110
Visa Cooperates With The Central Bank Of Iraq To Raise Awareness Of The Importance Of Digital Payments
Money and business Economy News-Baghdad On Thursday, the leading company in the field of global digital payments, Visa announced its cooperation with the Central Bank of Iraq to raise awareness of the importance of digital payments, pointing out that the campaign has the support of Prime Minister Muhammad Shiaa al-Sudani.
A company statement, received by “Al-Iqtisad News”, stated that “the world’s leading company in the field of digital payments, Visa, launched, in partnership with the Central Bank of Iraq, an initiative to introduce merchants and consumers in Iraq to the benefits of digital payments, and to raise awareness about the safety and security of these transactions.”
He added, “This initiative enjoys the support of the Iraqi Prime Minister, Muhammad Shia’a al-Sudani, and aims to encourage the Iraqi population to adopt the financial independence provided by the non-cash payment system.”
The statement indicated that “the campaign seeks, in partnership with the Central Bank of Iraq, to build a secure digital payment system for merchants and consumers by limiting the use of paper money, promoting non-cash payments and contactless payment solutions, and empowering people through financial inclusion.”
Commenting on the matter, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, said: “We at the Central Bank of Iraq are pleased to cooperate with Visa in the framework of this awareness campaign for merchants and consumers.
We have always been keen to support financial inclusion initiatives in various parts of the country, in addition to regulatory frameworks and related supervision processes.Iraq remains a major supporter of digital financial services in line with the strategic plan of the Central Bank of Iraq.
He added, “In its first phase, the campaign will focus on educating the growing community of Visa merchants and customers. Throughout history, merchants have shown clear caution in using direct point of sale devices, and this explains the high reliance on cash payment solutions.
However, there is an increasing demand for payments In Iraq, it is expected to grow by 14.23% between 2023 and 2027. This initiative will increase financial literacy and enhance financial inclusion, especially since about 80% of the Iraqi population still do not have bank accounts, or do not have access to digital payment solutions. “.
“The campaign will introduce merchants and customers to the process of issuing cards, including obtaining and activating Visa cards, and using them for daily transactions, while applying realistic use cases such as online shopping payments, supermarkets and fast food restaurants.
Visa’s efforts also include hosting training workshops and developing Easy-to-use toolkits for merchants and consumers to accelerate acceptance and use of digital payments.
In this regard, Mario Makari, General Manager of Visa for the Arab Levant region, said in the same statement: “There are wonderful advantages to the cashless economy. We at Visa are striving to provide these benefits to the Iraqi population, of whom 80% still do not have bank accounts and do not have sufficient access to The digital payment services they need.
Our new campaign, which has the support of the Prime Minister and the Central Bank of Iraq, is in line with the goals of Iraq Vision 2030 to promote financial inclusion and build a diversified economy.”
He added, “The world’s economies are witnessing rapid development in conjunction with the increasing use of digital technology in all fields of life. Based on our deep belief in the importance of education and education for development and moving forward, we urge all our merchants and consumers to help build this cashless system in Iraq, and enjoy all its economic benefits.” Visa has been collaborating for years with the Central Bank of Iraq and key players in the sector to advance financial literacy by providing tools that facilitate digital commerce.
He pointed out that “the Iraqi government has recently been seeking digital transformation in the country to achieve diversified economic growth in response to Iraq’s vision for the year 2030. And last January of 2023, the Prime Minister’s Office issued a mandate to use points of sale in all governmental and non-governmental institutions, which enhances Visa’s efforts in Iraq”.
The statement concluded, “Visa is always striving to stay at the forefront of innovation in its endeavors to create the largest open and dynamic global network of technology, partnerships and people. By establishing many initiatives and partnerships from Iraq, Visa has achieved a pioneering achievement represented in launching the first digital payment card and multiple cards.” From this ancient country, Visa has succeeded in achieving advanced, secure and world-class capabilities, including providing customers with a rich and rewarding experience.”
Views 147 08/31/2023 – https://economy-news.net/content.php?id=36102
