BondLady’s Corner

  In Bondlady’s Corner 

TLM724 Administrator BondLady’s Corner

Al-Sadr Calls On Everyone To Support The Homeland And Reform

Saturday 25 September 2021 21:11 | politicalNumber of readings: 17  Baghdad / NINA / – The leader of the Sadrist movement, Muqtada al-Sadr, called on everyone to support the homeland and reform.

And he said in a tweet that: love of the homeland and the request for reform runs in their blood, so they will seek to end corruption, vice, normalization, dependence, and all other evils./

https://ninanews.com/Website/News/Details?key=929169 

Al-Nusairi Calls For The Participation Of The Private Banking Sector In The Supreme Committee For Economic And Financial Reform In The Council Of Ministers

Part of the discussion    Money  and business   Economy News _ Baghdad   The economic and banking advisor to the Association of Iraqi Private Banks, Samir Al-Nusairi, called during his management of the first session for the second day of the conference of the Iraq Exhibition for Finance, Financial Inclusion and Development, held on September 22 and 23, at Al-Rasheed Hotel, to involve a representative of the private banking sector, which has 72 operating banks, commercial and Islamic banks. In making economic decisions that would contribute to economic and banking reform and in line with the goals and projects mentioned in the white paper.

Al-Nusairi stressed the need to add a representative of the private banking sector in the Supreme Committee for Economic and Financial Reform formed in the Council of Ministers, and reviewed the negative effects caused by external and internal economic challenges and shocks due to the drop in oil prices and the Corona pandemic, and the efforts made by the Central Bank to launch its financing initiatives aimed at stimulating the economy And revitalizing the economic cycle, for which 5 trillion dinars were allocated, in addition to the 6 trillion that were allocated to financing small and medium enterprises in 2016.

The speakers in the session were a representative of the Ministry of Finance (Director General of the Iraqi Fund for Foreign Development) and the Central Bank of the Financial Operations Department. The session discussed how banks can contribute to financing small, medium and large projects. They support the reconstruction of Iraq, risk structuring, and new investment promotion initiatives to promote foreign investment.

Views 307 Date Added 09/25/2021  https://economy-news.net/content.php?id=26404

Central Bank Governor: We Seek To Achieve Economic Balance

Thursday 23 September 2021  266   Baghdad: morning  The Governor of the Central Bank, Mustafa Ghaleb Mekhif, confirmed that the Central Bank is working with the Ministry of Finance to reform government banks, enhance financial inclusion and develop infrastructure for technical services and cybersecurity.

A statement by the bank stated, “Makhif participated in the exhibition of financial and banking services held in Baghdad, along with the Minister of Finance and a number of representatives of the banking and financial sector.”

And scary stressed, according to the statement, that “the central bank has an important role in achieving macroeconomic balance through various monetary policy tools, especially after the financial and economic challenges that Iraq faced.”

He added, “This bank, in order to stimulate economic activity and reduce unemployment, launched an initiative with an amount of more than 5 trillion dinars, in addition to the previous initiative launched in 2015, as well as the Central Bank’s deduction of treasury transfers 2020 and 2021 for the necessary funding for the Ministry of Finance despite the increase in debt and impact. negative, but historical necessity demands it.

He continued, “The Central Bank supports the establishment of a sovereign fund for future generations, in which state institutions and oil revenues contribute,” noting that “the presence of this fund mitigates the potential risks in light of oil price fluctuations and contributes to building a secure future for future generations.” LINK

Dollar Exchange Rates In Local Markets

Market  Economy News _ Baghdad  The dollar exchange rates continue to remain stable in the local markets.

Today, Saturday, the selling prices of the dollar were 147,500 dinars per 100 dollars, while the purchase prices of the dollar were 147,000 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 purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, and the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar. Views 74 Date Added 09/25/2021   https://economy-news.net/content.php?id=26401

It Is The Highest In 3 Years..A Huge Jump In Oil Prices

Economie| 08:41 – 25/09/2021   Follow-up – Mawazine News:  Oil prices rose for the third week in a row, to reach their highest level in three years, on Friday, as disruptions in global production forced energy companies to withdraw large quantities of crude from inventories.

Brent crude futures rose 84 cents, or 1.1 percent, to settle at $78.09 a barrel.

US West Texas Intermediate crude rose 68 cents, or 0.9 percent, to a settlement price of $73.98 a barrel.

This is the highest close for Brent since October 2018 and for WTI since July 2021, both higher for the second day in a row. Ended 29/A 4    https://www.mawazin.net/Details.aspx?jimare=168617

A British Company Pleads Guilty To Charges Of Bribery In Oil Projects In Iraq

Energy    Economy News _ Baghdad   British oil services group Petrofac said it would plead guilty to seven counts of bribery to secure projects in Iraq, Saudi Arabia and the United Arab Emirates between 2012 and 2015, describing it as a “very unfortunate period”, which raised its shares by 25%.

The company indicated its plans in London’s Westminster Magistrates’ Court after it was formally indicted by the UK’s Serious Fraud Office (SFO), drawing the line for a four-year criminal investigation.

Petrofac said offers or payments to agents to help secure projects took place between 2011 and 2017 but all employees involved left the company.

“This has been a very unfortunate period in Petrofac’s history,” the company’s chairman, Rene Midori, said in a statement, adding that a “comprehensive program to renew the company” had been approved by the Office of Organized Crime.

“Petrofac used to live in the shadows of the past, but today it is very different, as stakeholders can be sure that we adhere to the highest standards of business ethics, wherever we operate,” he stated.

Former CEO David Lufkin, who separately pleaded guilty to 14 counts of bribery to secure multibillion-dollar contracts for Petrofac in the Middle East, is also expected to be indicted.

Views 290 Date Added 09/25/2021   https://economy-news.net/content.php?id=26403

Tags: , /