Bondlady’s Corner Iraqi Economic News & Points to Ponder Monday Evening 9-11-23

Iraqi Economic News & Points to Ponder Monday Evening 9-11-23


Tlm724 Administrator Bondlady’s Corner


Federal Prime Minister: We Are Committed To The Budget Law And We Refer Those Accused In The Kirkuk Events To The Law


Iraq 14:25 – 2023-09-10 Federal Prime Minister Muhammad Shiaa al-Sudani announced his commitment to the general budget law and dealing with the region’s entitlement to the budget on the basis of the general budget law issued by the House of Representatives. Regarding the outbreak of the crisis that occurred around the building of the advanced headquarters of the Joint Operations Command in Kirkuk, which the Democratic Party left after the referendum, the Prime Minister confirmed Federal Ministers refer those accused of martyring and wounding citizens in Kirkuk to law.


Muhammad Shiaa Al-Sudani said during a statement to the Kurdsat News satellite channel: “There are numbers and statistics that govern everyone’s budget entitlements, and we, in turn, are committed to the general budget law.”


The Prime Minister of the Federal Council added: “We deal with the region’s share on the basis of the general budget law, and we are also awaiting the result of hosting the Minister of Finance of Iraq and the region to the Finance Committee and the House of Representatives to address budget-related disputes.”


Regarding the tensions and disturbances that occurred in the past few days in Kirkuk over a building belonging to the Democratic Party, which it left as a result of the Kurdistan Region’s referendum and occupied by the General Command of Joint Operations in the city, Muhammad Shiaa al-Sudani pointed out that: “Kirkuk must be removed from disputes and conflicts, and we will remove anyone whose hands are dirty.” “With the blood of the citizens of Kirkuk, it will be transformed into the law.”


18 Countries Confirm Their Participation In The 47th Session Of The Baghdad International Fair


Money  and business   Economy News – Baghdad  The Ministry of Commerce announced, on Monday, the confirmation of the participation of 18 Arab and foreign countries, and 25 others under negotiation, to attend the Baghdad International Fair in its forty-seventh session.


Ministry spokesman Muthanna Jabbar said, “This year’s Baghdad International Fair is characterized by government support at the highest levels, in addition to a high interest in green spaces, dancing fountains, colorful interactive lights, artistic events, and poetry evenings, in addition to establishing a special radio for the fair, and providing free water and juices.” And some meals during the events, and the exhibition days will include other surprises.”


Jabbar added, “The international participation confirmed by official contracts is 18 countries, including Japan, Turkey, Spain, Azerbaijan, and all Arab countries, while the countries that are still under negotiation are 25 countries, and their participation will be decided within the next two weeks.”


He pointed out, “The participation costs of Arab and neighboring countries will be 50 percent of the total participation costs per square meter, while for local companies, they will be 30 percent of the total participation costs.”   102 views   09/11/2023 –


Iraqi “SOMO”: 2.504 Million Barrels Daily Export Rate During The First Week Of September


Energy    Economy News – Baghdad   The Iraqi State Oil Marketing Company, SOMO, announced on Monday that the daily export rate during the first week of September reached 2.5 million barrels.


SOMO stated in a table seen by Al-Iqtisad News that “the daily export rate during the first week of September amounted to 2.504 million barrels with a price rate of 89.203 dollars.”


She added that the rate of exports from Basra crude reached 3.470 million barrels per day, of which 2.275 million barrels per day are medium crude, and 1.195 million barrels per day are heavy crude, indicating that the daily export rate to Jordan reached 300 thousand barrels, and from Qayyarah a rate of 400 thousand barrels per day. .


She indicated that Iraq’s oil exports for the month of September are expected to reach 105.111 million barrels if the same exported quantities remain for the rest of the month, while oil imports will reach 9.38 billion dollars and the daily export rate will be 3.504 million barrels.


132 views 09/11/2023 –


Central Bank Sales Amounted To More Than 196.5 Million Dollars


Economy News – Baghdad  Today, Sunday, the Central Bank of Iraq’s sales in the foreign currency sales window amounted to more than 196.5 million dollars.


The Central Bank’s website published its dollar sales schedule, which Al-Iqtisad News reviewed. It included the participation of 25 banks and 65 exchange companies, and foreign transfer requests covered $169.1 million, while cash requests amounted to more than $27.4 million.


The Central Bank of Iraq sells the dollar for documentary credits and international settlements for electronic cards at a price of 1,305 dinars per dollar, for every dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.


Views 38 09/11/2023 –


Saudi Arabia Expresses Its Desire To Increase The Volume Of Economic Exchange With Iraq


Money  and business   Economy News – Baghdad  Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani stressed, on Monday, the importance of strengthening and expanding the horizons of bilateral cooperation relations between Baghdad and Riyadh.


A statement by the ministry said, “Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, received today, Monday, a delegation of the Saudi Shura Council, headed by Ibrahim Muhammad Al-Qannas, Chairman of the Iraqi-Saudi Friendship Committee in the Council.”


The statement added that Abdul Ghani “welcomed the guest delegation, expressing the depth of brotherly ties between the two countries, and the mutual keenness to strengthen and expand the horizons of bilateral cooperation relations in all fields, including economics, oil and energy.”


For its part, the Saudi delegation affirmed “the Kingdom’s keenness to strengthen and strengthen the bonds of relations between the two countries,” expressing its hope for “cooperation in implementing projects and investment opportunities and seeking to increase the volume of economic exchange between the two countries.”   Views 86 09/11/2023 –


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Points to Ponder on Wealth:


There is a burden of care in getting riches; fear in keeping them; temptation in using them; guilt is abusing them; sorrow in losing them; and a burden of account at last to be given concerning them. —

M Henry


The acquisition of wealth is a work of  great labor; its possession a source of continual fear; it loss, of excessive grief. — From the Latin


Agur said, “Give me neither poverty nor riches”; and this will ever be the prayer of the wise. Our incomes should be like our shoes: if too small, they will gall and pinch us, but if too large, they will cause us to stumble  and to trip. But wealth, after all, is a relative thing, since he that has little, and wants less, is richer than he that has much, but wants more. True contentment depends not upon what we have; a tub was large enough for Diogenes, but a world was too little for Alexander. — Colton


Our wealth is often a snare to ourselves, and always a temptation to others. — Colton


Men pursue riches under the idea that their possession will set them at ease and above the world.  But the law of association often makes those who begin by loving gold as a servant, finish by becoming its slaves; and independence without wealth is at least as common as wealth without independence. — Colton


In proportion as nations become more corrupt, more disgrace will attach to poverty and more respect to wealth. — Colton


The larger the income, the harder it is to live within it. — Whately