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Iraqi News Tuesday AM 3-9-21

TLM724 Administrator BondLady’s Corner

Central Bank Sales Of The Dollar Are Rising Again After A Sharp Decline

Author: AhadNA2 On 3/9/2021 – 1:21 PM 68  On Tuesday, the Central Bank of Iraq’s hard currency sales increased by 49 percent.

The Central Bank of Iraq, during its auction for the sale and purchase of foreign currencies today, witnessed an increase in its sales by 49.03 percent to reach 68 million 40 thousand and 250 dollars, covered by the bank at a basic exchange rate of 1460 dinars per dollar, compared to Monday, where sales reached 45 million 655 thousand dollars. .  The purchases amounting to 68 million 40 thousand and 250 dollars went to strengthen the funds abroad in the form of transfers and credits, while the banks did not make any purchases of dollars in cash.  Thirteen banks responded to requests to boost overseas assets. https://alahadnews.net/171433/%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af/

Parliamentary Finance Of NOAA: We Rule Out Adjusting The Exchange Rate Of The Dollar Against The Iraqi Dinar

Today, Tuesday (March 9, 2021) the Parliamentary Finance Committee ruled out the issuance of a new decision to amend the exchange rate of the dollar against the Iraqi dinar, in conjunction with the rise in oil prices in the global market.

Committee member Jamal Cougar said in an interview with Noa, that the committee does not have any tendency to modify the exchange of the dollar against the dinar, indicating that the parliamentary finance does not have any authority to amend the exchange rate because the authority is limited to the central bank only.

He added that the budget is designed on the basis of the new exchange rate, stressing that the change of the dollar against the dinar will cause confusion in the economic situation and the loss of confidence in the Central Bank.   https://www.radionawa.com/all-detail.aspx?jimare=23825

Parliamentary Finance Clarifies The Possibility Of Passing The Budget During Next Monday’s Session

Author: AhadNA3 On 3/9/2021 – 2:09 PM 48

A member of the Finance Committee in Parliament, Muhammad al-Shabki, commented today, Tuesday, on the possibility of resolving political disputes over the draft budget law for 2021, before the date of voting on it, next Monday.

Al-Shabaki said, “The Presidency of the Council of Representatives gave this time (week) for the political forces to reach final solutions about the 2021 budget bill, as well as Baghdad and Erbil reaching a decisive agreement to be included in the budget.”

And he indicated, “This time is sufficient to resolve differences over the draft budget law in 2021, especially since this time will witness intensive meetings between the political parties, with the aim of reaching solutions, as there is a parliamentary intention to pass the budget at a session next Monday, and everyone is agreed on this matter,” Including the Kurdish forces.

On Monday, the Speaker of Parliament, Muhammad al-Halbousi, instructed to include the voting clause on the 2021 draft budget on the parliament’s agenda in next week’s session.

https://alahadnews.net/171480/%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82/%d8%a7%d9%84%d8%b3%d9%8a%d8%a7%d8%b3%d9%8a%d8%a9/

Slight Decrease In Dollar Exchange Rates

Time: 03/09/2021 11:27:28 Read: 2,964 times  {Baghdad: Al Furat News} The exchange rates of the dollar fell, today, Tuesday, on the main stock exchange in Baghdad slightly.

The central Al-Kifah and Al-Harithiya Stock Exchanges in Baghdad recorded 145,350 Iraqi dinars for 100 US dollars.  While the Central Al-Kifah Stock Exchange registered 145400 Iraqi dinars, during its opening on Monday morning.

The selling and buying prices witnessed a decrease in the exchange shops in the local markets in Baghdad, where the selling price reached 145,750 Iraqi dinars, while the purchase prices reached 144750 dinars per 100 US dollars.   LINK

Iran Is Waiting For Iraq To Pay Its Debts, And The Finance Minister: Is On The List Of Priorities

Money  and business  Economy News – Baghdad    The Iranian ambassador in Baghdad, Iraj Masjedi, held a meeting with the Iraqi Minister of Finance, Abdul Amir Allawi; To discuss the issue of recovering the frozen Iranian assets in Iraq.

The meeting between Allawi and Masjedi, which was held yesterday, Monday, dealt with the political atmosphere between the two countries and the mechanisms for paying Iran’s financial demands from the Iraqi side, according to the IRNA website.

In addition, Iraqi Finance Minister Ali Allawi stressed that “Iran’s financial demands are on the list of priorities and that the necessary estimates have been drawn up in this regard.”

It is noteworthy, that Iran is asking Iraq sums of money worth 6 billion dollars, in return for its exports of electricity and gas to this Iraq.

It is noteworthy that Iranian Energy Minister Reza Ardakanian said at the end of 2020 that his country had received about 700 thousand dollars from Iraq in exchange for electricity and gas exports.

Ardakanian added that during his visit to Iraq, meetings were held, and good agreements were reached regarding dues to export electricity and gas to Iraq.

he Minister of Energy also said, (December 29, 2020), that Iran will pay for the purchase of the Corona vaccine from Europe with its own money in Iraq.

Earlier, the Iraqi Ministry of Electricity warned that a number of cities, including the capital, Baghdad, are at risk of power outages due to the decline in Iranian electricity exports.

Number of observations 120 Date added 03/09/2021  https://economy-news.net/content.php?id=24375

The Stock Exchange Closed Higher For The Second Day

Iraq Stock Exchange  Market  Economy News – Baghdad  The bourse continued for the second day in a row, closing up 0.50%.

As the traded shares rose in today’s session to 2.18 billion shares, a value of 746.2 million dinars, through 633 transactions concluded by investors on the shares of 33 companies.

The share of Asia Cell continued to lose for the second day, as the share price fell by 0.11% as a result of financial reports that talk about a decline in its profits during the past year.

The shares of Al-Ataa Islamic Bank gained 12.50%, Cartoon Trading Industry 9.09%, Metal and Bicycle Industry 7%, Gulf Bank 5.8% and Middle East Bank 5%, while Al-Ahlia Agricultural Production shares declined 4.72% and Babylon Hotel 1.89%.  Number of observations 115 Date added 03/09/2021

https://economy-news.net/content.php?id=24374

Al-Bawi: The Finance Minister’s Invocation Of The IMF’s Conditions Is Considered Insult To The People’s Feelings

09:20 – 09/03/2021  The information / Baghdad ..Political analyst Hazem Al-Bawi considered, on Tuesday, the Minister of Finance, Ali Abdul Amir Allawi, who invoked the conditions of the International Monetary Fund in the austerity imposed on the people, an outrage of the dignity of Iraqis and a persistence in exposing them to more unfair pressures.

Al-Bawi said to “the information”, that “the minister had forgotten or forgotten that the Al-Abadi government had sought to infiltrate Iraq in 2014 under the unfair conditions of the International Monetary Fund and remove the hand from the sectors of health, education and the ration card, contrary to the constitution.”

He added that “Al-Abadi’s government was the first to carry out unjustified imposed austerity, deduct the salaries of employees and raise the fees for communications to citizens, which caused a state of boil and great popular anger that Iraq is under its weight until now.”

Al-Bawi stressed the need for political and economic decision-makers to learn from that bitter experience and not to risk their credibility in front of the people who know well that the budget has been calculated at $ 43 per barrel of oil, while the price of Iraqi oil is sold today at $ 53 in OPEC and may reach higher than that, which negates the need. Unjustified austerity.     https://www.almaalomah.com/2021/03/09/524357/

In Numbers … The State’s Imports Of Mobile Phone Companies Within Ten Years

Time: 03/09/2021 13:44:30 Read: 2,626 times   {Baghdad: Al Furat News} The Future Iraq Foundation for Studies and Economic Consultations revealed huge profits from what the Iraqi state had obtained from mobile phone companies within 10 years.

The institution said in a report that “the Iraqi state’s imports from mobile phone companies for the period from 2009 to 2020 amounted to more than $ 13 billion, depending on the rates deducted from the companies.”

She indicated that “this amount represents 28% of the total revenues of the three companies operating in Iraq, and represents double the profits of the three companies that achieved total profits of $ 6.2 billion.”

She explained that “state revenues came according to the following three revenues: licensing revenues, which amounted to $ 6.8 billion, representing 17% of the revenues of the three companies; 15% of corporate net profits.

The attached figure shows the distribution of state revenues during the years from 2009 to 2020 compared with the net profits of the three operating telecommunications companies:  LINK

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