Iraqi News Highlights Friday Afternoon 1-27-23
Tlm724 Administrator Bondlady’s Corner
From Behind The Scenes Of The Stock Exchanges…A Specialist Reveals 3 Types Of Dollar Dealers There
Posted On2023-01-27 By Sotaliraq Financial experts revealed, on Thursday, the scenes of dollar sales in the stock exchanges and local markets in the capital, Baghdad, amid the continued fluctuation of the hard currency price against the Iraqi dinar, and the unclear scene related to it.
And a press report quoted the financial expert at the Al-Kifah Stock Exchange, Muhammad Azzawi, as saying that “the increasing demand for the dollar does not help in raising the value of the dinar,” noting that “a part of the companies closed their doors and preferred not to trade in order to avoid losing due to the large fluctuations, and that another part of the companies sells For merchants and investors with a limited ceiling that does not exceed $50,000 per person, and others deal outside offices and companies in a vivid expression of the uncontrolled black market,” as he put it.
In the same context, the head of the Iraqi Securities Commission, Hassan Al-Agaili, considered that the continuation of the rise in the exchange rate of the dollar in the country will not last long, indicating that the government has begun procedures to reduce its price.
Al-Aqili explained that “the rise in the exchange rate of the dollar contributed to a negative impact on the prices of materials, which are mostly imported materials and are purchased in foreign currency,” noting that “controlling this escalation and the possibility of returning the dollar to its normal price are dependent on the measures taken by the authorities responsible for cash management.” The foreigner in Iraq, specifically in the Central Bank.
Al-Aqili pointed out that “there are statements by a group of officials that the Central Bank has initiated procedures to address the situation and to control that rise,” noting that “the issue will not take long before things return to normal.”
Chairman of the Securities Commission, Hassan Al-Aqili, indicated that “the central bank has begun to control governance procedures for private banks, and as the Prime Minister confirmed, the price will be controlled and returned to what it was, in addition to the fact that the decrease in currency auction sales will lead to an increase in the reserves of the central bank.” of the dollar.” Al-Aqili expressed his hope to “restore the status of the dollar to what it was in the past.” LINK
Oil Rose By 1% And Exceeded The $88 Mark
Friday, January 27, 2023 4:48 PM Follow-up / National News Center Oil prices consolidated their gains this week, exceeding the $88 barrier, this Friday evening, up by more than 1% in 24 hours.
And at exactly 16:30 Baghdad time, Brent crude futures contracts reached 88.62 dollars, after closing yesterday at 87.47 dollars a barrel. US crude futures rose, recording $82.14 a barrel, while they had closed yesterday at $81.01. https://nnciraq.com/182614/
Suspension Of The Iraqi Embassy In Ukraine Because Of The Russian War
Friday, January 27, 2023 6:14 PM Baghdad / The National News Center The Iraqi embassy in Ukraine suspended today, Friday, the provision of consular services at the embassy, starting next Monday until further notice, due to the circumstances of the Russian war.
The embassy stated, in a statement received by the National News Center, that “the exceptional circumstances that Ukraine is going through, the developments of the recent war, and the intensification of the bombing of the Ukrainian capital prompted us to suspend the provision of consular services at the embassy, starting from Monday, 1/30/2023, until further notice.” https://nnciraq.com/182650/
Iraq and UNESCO Are Discussing Ways To Consolidate Joint Cooperation Between Them
Iraq Prime Minister Mohammed Shia Al-Sudani met, at his residence in the capital, Paris, this morning, Friday, with the Director-General of the United Nations Educational, Scientific and Cultural Organization (UNESCO), Audrey Azoulay, in the presence of the Minister of Foreign Affairs, the Minister of Culture and the Iraqi ambassador in Paris.
The meeting discussed, according to a statement by the Prime Minister’s Media Office, ways to consolidate joint cooperation between Iraq and UNESCO, and build partnerships to promote sustainable development in the sectors of culture, education and various fields of science.
The Prime Minister appreciated UNESCO’s initiative to revive the spirit of Mosul and the reconstruction of Al-Nouri Mosque, looking forward to cooperate with the organization to include more Iraqi sites on the World Heritage List, and to contribute to vocational training for workers and the development of the education sector.
Al-Sudani expressed the government’s desire to cooperate with the UN organization by establishing training and development programs for middle cadres, to implement small and medium projects, in a way that helps provide job opportunities for young people within the framework of the sustainable development plan, stressing the aspiration for Iraq to have an important presence in the Executive Council of UNESCO.
For her part, Oslay referred to the distinguished relationship with Iraq. Because of the historical depth it represents, and stressed that the revival of the city of Mosul is the largest operation led by UNESCO in the world in terms of size and importance.
The Director of UNESCO affirmed that the organization is proceeding with a technical and vocational training project in Iraq, and welcomed Iraq’s nomination to the UNESCO Executive Board.
Al-Sudani: Our Visit To France Confirms The Depth Of The Bilateral Relationship, Which Has Evolved Into A Strategic Partnership
Friday 27 January 2023 19:34 | political Number of readings: 22
Baghdad / NINA / – Prime Minister Muhammad Shayaa Al-Sudani affirmed that his visit to France confirms the depth of the bilateral relationship, which has risen to a strategic partnership between the two countries
. Al-Sudani said during his visit to the group of French business leaders, which includes businessmen and owners of major French companies, today, according to a statement by his office. “The strategic partnership agreement represents a framework for cooperation in all fields.”
He pointed out that the entry of French companies to Iraq for investment would be a right decision.
He continued: Our visit to France and the countries of the world is not protocol, but rather deliberate visits aimed at achieving serious economic partnerships.
In the field of energy, Al-Sudani stressed that the government prioritizes the investment of associated gas and renewable energy, as well as other investment opportunities in the petrochemical sector, transportation, and iron and steel sectors.
He said that the Iraqi government has been working since day one to improve the business environment in Iraq, to carry out structural reform in the economy and the financial sector, in addition to its seriousness in combating corruption.
He stressed that securing the work of foreign companies in Iraq is a principled and firm commitment of the government./ End 7 https://ninanews.com/Website/News/Details?key=1029435
Al-Sudani: The Entry Of French Companies Into Iraq For Investment Will Be A Right Decision
Money and business Economy News – Baghdad On the sidelines of his official visit to the French capital, Paris, Prime Minister Mohamed Shiaa Al-Sudani visited a group of French business leaders, which includes businessmen and owners of major French companies.
Al-Sudani said during the meeting, according to a statement from his office, that “our visit to France confirms the depth of the bilateral relationship, which has risen to a strategic partnership between the two countries,” noting that “the strategic partnership agreement represents a framework for cooperation in all fields.”
He added, “The entry of French companies into Iraq for investment will be a right decision,” stressing that “our visit to France and the countries of the world is not protocol, but rather deliberate visits aimed at achieving serious economic partnerships.”
He continued, “In the field of energy, the government prioritizes investment in associated gas and renewable energy, as well as other investment opportunities in the petrochemical sector, transportation, and iron and steel sectors.”
He went on to say, “The Iraqi government has been working since day one to improve the business environment in Iraq, and to carry out structural reform in the economy and the financial sector, in addition to its seriousness in combating corruption,” pointing out that “securing the work of foreign companies in Iraq is a principled and firm commitment of the government”.
https://economy-news.net/content.php?id=32125
The Stability Of The Dollar Exchange Rate In Iraq
Economie| 09:44 – 01/27/2023 Baghdad – Mawazine News Today, Friday, the exchange rates of the dollar witnessed stability in the local markets. And the selling prices of the dollar were recorded at 161,000 dinars per 100 dollars, while the buying prices of the dollar were recorded at 160,500 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=217661
Transport Reviews The Details Of A “Giant Project” Linking Iraq With Europe
Reconstruction and building Economy News – Baghdad The Ministry of Transport set the date for the completion of the first phase of the dry canal designs and the possible date for the commencement of implementation, and while detailing the desired economic gains from it, it confirmed that it will extend by two roads and by rail, with a length of 1,200 km.
The Director of the General Company for Railways at the Ministry of Transport, Younis Khaled Al-Kaabi, said, “The Dry Canal project is vital and of importance to Prime Minister Muhammad Shia’a Al-Sudani, as it falls within the strategic projects that the government intends to implement. Ports and railways to discuss the completion of this project.
He added, “The dry canal is a giant project, the largest and most important, as it is the main outlet for the port of Faw, and through it the port will be linked to the borders from the south to the north of Iraq, all the way to the borders with Turkey, and from there to the European transport network to reach European markets and allow the transportation of loads at high capacities.”
He pointed out that “this project will extend with a railway line of 1,200 km, passing through most of the Iraqi governorates through new and fast lines in which electric trains operate, accompanied by a highway for transporting goods and passengers that runs almost parallel to the railway line from the port of Faw to the Iraqi-Turkish border in new tracks.” .
And he stressed that “this project entered within the government program, and the timings for the railway network were completed in agreement with the Italian consulting company by 100%, and after the approval of the economic feasibility study, the company will start the design stage, and perhaps during the current year the first tender for the extension of a line will be announced.” Modern electric railways in Iraq.
Al-Kaabi said, in an interview with the official news agency, that “it is likely that the stage of designs will be completed next September, after which the project will be referred to implementation,” noting that “this issue has nothing to do with the budget, and it may be put forward for investment or through financing funds.”
And he indicated that “the ministry is waiting for the prime minister and parliament to determine the financing method, and the project is followed up personally by the prime minister and minister of transport on a daily basis, and the Italian company is present and has a headquarters for daily follow-up, as well as periodic meetings with fixed and specific dates.”
The Prime Minister, Muhammad Shia’a al-Sudani, had directed to expedite the implementation of the dry canal project and to shorten the stages. https://economy-news.net/content.php?id=32124
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