Iraqi News Tuesday Afternoon 9-20-22
Tlm724 Administrator Bondlady’s Corner
Bank Of America: Average Oil Prices In 2023 Will Reach $100 Per Barrel
Energy Economy News – Baghdad Bank of America expects that the average oil price will reach $100 per barrel next year 2023, indicating that this rate of prices comes with the recovery in demand in China and the decline in Russian production, which keeps global supplies scarce .
The bank said, oil will average $100 a barrel in 2023 as demand returns in Asia and Russian production declines, and further disruptions to Russian supplies may push prices up, but the global recession may limit them .
In a note on global oil demand, Bank of America strategists said the Asian region is expected to achieve 86% of the 1.7 million barrels per day of oil consumption growth we expect for next year, compared to just 19% of the 2 million barrels per day we expect. 2022 _
For 2023, the Bank expects oil demand to grow at an average of 1.7 million barrels per day, which is lower than what the International Energy Agency, the Energy Information Administration and OPEC expect.
33 views Added 09/20/2022 – 10:37 AM Update 09/20/2022 – 4:21 PM
Slight Increase In Global Oil Prices
Economie| 08:52 – 09/20/2022 Follow-up – Mawazine News: Oil prices rose slightly, after declining at the beginning of this morning due to the lack of supply and the lifting of closures on some Chinese cities, which pushes the second largest oil consumer to import more oil.
Brent crude futures for November settlement rose 14 cents, or 0.1 percent, to $92.14 a barrel by 04:20 GMT. US West Texas Intermediate crude for October delivery was $85.59 a barrel, up 3 cents.
Baghdad And Washington Are Discussing The Lawsuits Of Oil Companies In The Commercial Court
Political | 11:49 – 09/20/2022 Baghdad – Mawazine News, the President of the Supreme Judicial Council, Judge Faiq Zaidan, discussed with the US Ambassador to Iraq, on Tuesday, the claims of oil companies in the Commercial Court.
A statement by the Supreme Judicial Council stated, “Zidane received the US ambassador to Iraq, Alina Romanowski, and discussed with her the follow-up to the claims of oil companies in the Commercial Court.” Ended 29/N33 LINK
The Stock Market Announces The Creation Of An Electronic Portfolio To Regulate Trading And Encourage Investment
Economie| 12:33 – 09/20/2022 Baghdad – Mawazine News The Iraq Stock Exchange announced, today, Tuesday, the creation of an electronic portfolio to organize trading and encourage investment.
A statement to the market stated, “Based on the work plans of the Securities Commission and the Iraq Stock Exchange – for the year 2022, the Iraq Stock Exchange and Elaf Islamic Bank signed a license contract (Al-Hafiz Al-Amin) after the bank completed the requirements of the instructions of the Custodian, the most important of which is obtaining the approval of the Central Bank of Iraq and obtaining the approval of the Securities Commission.
The Ministry of Finance and the Board of Governors of the Iraq Stock Exchange, preparing the headquarters and staff of the Custodian of the Two Holy Mosques, passing training, and creating a back office system to manage the tasks set forth in the instructions from the outputs of market and bank systems.”
The statement explained, “The tasks of (the Custodian) include contracting with investors wishing to receive the following services: opening an account for securities for each investor, keeping the securities, notifying the investor of all decisions and actions taken by joint stock companies related to the rights associated with his securities, and notifying the investor of all The operations and transfers that took place on his account within a working day, in accordance with the notification method agreed upon between them, and providing the investor with a detailed monthly account statement showing all the transactions and transfers that took place in his account, with a statement of his current balance of securities or cash.
He added, “This step is considered positive, as it works to attract Iraqi, Arab and foreign investors from outside Iraq, organize the mechanisms of capital movement in accordance with the mechanisms and rules of the banking system, organize the affairs of Iraqi and foreign investors who desire the type of services provided by the trustworthy custodian that is recognized in the Arab and international financial markets, and organize the The relationship with foreign banks in directing the funds prepared for investment in the shares of Iraqi joint stock companies,” noting that “there will be licenses for other Iraqi banks very soon to expand the required structure for the base of services required – for the trustworthy custodian – for the same goals and tasks that it performs – set out in the instructions above.” Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=205972
A Government Plan To Prevent The Migration Of Marsh Dwellers And Preserve Livestock
Local | 01:08 – 09/20/2022 Baghdad – Mawazine News The Ministry of Water Resources warned, today, Tuesday, of the continuing impact of drought on the marshes, while addressing the Ministries of Environment and Agriculture to preserve livestock.
The Director of the Marshlands and Wetlands Revitalization Center at the Ministry of Water Resources, Hussain Ali Al-Kinani, told the official news agency, followed by Mawazine News, that “the Ministry of Water Resources has started implementing the work of a plan in order to prevent the migration of the local marsh residents, especially fishermen, livestock breeders and buffaloes, to preserve wealth. The fauna that has unfortunately declined due to drought,” he said, noting that “the plan includes deepening and expanding the right and left Euphrates feeders to have a new area longer and larger than the previous one.”
He added, “These nutrients will become large rivers that feed from the left and right Euphrates to cover a large proportion of the water for what the indigenous and local residents of the marshes need, represented by fishermen who have the freedom to move while practicing their profession within these nutrients.”
He added that “the drought led to the migration of very large numbers of marsh fishermen, especially livestock and buffalo breeders, and a significant decline in livestock,” explaining that “livestock farmers shifted their settlement from places where water was scarce to the banks of rivers and nutrients.”
Al-Kinani called “the Ministries of Environment and Agriculture to work to confront the drought crisis, support buffalo and livestock breeders and provide them with existing feed and veterinary vaccines in order to preserve livestock,” explaining that “this wealth has a great role and a positive impact in reviving the marshes and the economic movement.” LINK
Low Dollar Exchange Rates In Local Markets
Economie| 09:37 – 09/20/2022 Baghdad – Mawazine News, the dollar exchange rates fell, today, Tuesday, on the Iraqi Stock Exchange. Selling price: 147.700 dinars per $100 purchase price: 147.600 dinars per $100 LINK
Baghdad And Ankara Are Discussing Facilitating The Work Of Turkish Banks In Iraq
Banks Economy News _ Baghdad The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, received the Turkish Ambassador to Iraq, Ali Reza Konay, and his accompanying delegation.
During the meeting, according to a statement by the Central Bank, they “discussed aspects of bilateral cooperation and strengthening them between Baghdad and Ankara, developing banking and economic relations between the two neighboring countries, and facilitating the work of Turkish banks in Iraq.”
He stressed, “Our previous visit to Ankara and our meeting with the Governor of the Turkish Central Bank came with the aim of developing the bilateral relations that the bank aims to achieve through its openness to its counterparts in the countries of the world in a way that enhances its foreign relations.”
He added, “The Central Bank of Iraq deals reciprocally through its policy, which focuses on the interest of Iraq.” 22 . views Added 09/20/2022 – 3:43 PM Update 09/20/2022 – 4:14 PM
https://economy-news.net/content.php?id=29801
The Industrial Bank Of Nina: We Continue To Provide Project Loans And We Expect The National Industry To Flourish In The Future
Tuesday 20 September 2022 16:27 | Economic Number of readings: 13 Baghdad / NINA / – The Industrial Bank disclosed the details of the mechanism of loans for industrial projects that it provides to investors and businessmen, stressing the increase in the rate of industrial growth in the country.
The director of the bank, Bilal Sabah Hussein, said, in a statement to the National Iraqi News Agency ( NINA ), that “the industrial bank finances industrial sector projects, which have exceeded 20 projects and factories so far, but there is an increase in the size of the national industry and the demand for industrial loans has increased significantly.”
He explained, “Most of these projects have reached a high completion rate and others are under financing, within the framework of the Central Bank’s initiative to loans medium and large projects, with a period of 15 years and an interest rate of 2%-3%, as we seek to provide loans to hundreds of factories.”
He added, “The loans are continuing according to the maximum limit of 20 billion dinars within the initiative of the Central Bank, where we finance 80% of the project, and financing begins after the completion percentage reaches 20%, the real estate guarantee is 20%, and the production line guarantees itself 80%. As for the existing projects that want to buy Raw materials must have a 100% real estate guarantee.
He continued, “The demand for factory loans is currently good, so we expect the national industry to thrive in the future, especially after the exchange rate rise and competition with the importer enters, where the local product is cheaper and more expensive, which made businessmen, traders and importers resort to establishing factories inside Iraq.” , stressing that “most of the factories began to rise at the growth rate of the industrial sector.”/ https://ninanews.com/Website/News/Details?Key=1001404
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