Bondlady’s Corner Wednesday Afternoon

Iraqi News Highlights Wednesday Afternoon 1-25-23


Tlm724 Administrator Bondlady’s Corner


A Demonstration Begins In Central Baghdad To Protest Against The High Exchange Rate Of The Dollar


Economie| 11:17 – 01/25/2023   Baghdad – Mawazine News  Dozens of people demonstrated in Al-Rusafi Square in the center of the capital, Baghdad, on Wednesday, to protest against the high exchange rates of the dollar against the dinar.


It is worth noting that the Sudanese Prime Minister, Muhammad Shia’a, confirmed, last Saturday, that his government continues to support the Central Bank to restore the exchange rate of the dollar to its official level.


And the Central Bank’s advisor, Ihsan Shamran Al-Yasiri, said, on January 10, that “the turmoil in the dollar prices is a temporary situation, and within two weeks, the dollar price will return to its normal stable position of 1470, that is, before the end of the current month of January.” Ended 29/N33


The President Of The Republic: Iraq Has Promising Investment Opportunities, And We Hope That The Budget Will Be Approved Soon


political| 12:49 – 01/25/2023  Baghdad – Mawazine News, President of the Republic, Abdul Latif Jamal Rashid, received, on Wednesday, a number of ambassadors of Arab countries accredited to Iraq.


Rashid stated, according to a statement received by Mawazine News, that “the results of forming the current government are fruitful despite the time it took to form, and its program is serious and prioritizes, especially with regard to providing the necessary services and rebuilding infrastructure, and this is what will be achieved in light of the stability and peace that Iraq is experiencing.” Now, after years of wars, terrorism and violence.


The President of the Republic touched on his participation in the Arab Summit Conference in Algeria, praising “the decisions that resulted from the summit, the role of the Arab League, and the success of sister Algeria in organizing the summit,” stressing that the Arab leaders and presidents welcomed the formation of the government and Iraq’s role in resolving outstanding issues between the Arab countries.


.He added, “Preserving the environment has become a global issue and the countries of the region are very interested in improving the environment and addressing water scarcity,” pointing out that “European countries in the Davos Economic Forum were interested in Iraq’s participation and expressed their willingness to cooperate, as they consider our region rich, civilized and important. There was also interest from Participants in the Davos conference on democracy and its importance.


He pointed out, “Iraq has promising investment opportunities, but we need to rehabilitate the infrastructure and should coordinate and cooperate with the Arab countries to create an investment environment in Iraq, and we need in this field bilateral and tripartite cooperation with the Arab brothers.”


And he continued, “We hope, within a short period to come, to approve the budget that has not been approved for three years, which caused delays in the completion of vital projects,” calling on the ambassadors to “encourage companies in their countries for the purpose of investing in Iraq.”


Regarding the security situation, the President of the Republic affirmed that “the situation is stable, but unfortunately the media did not convey this image of Iraq,” calling on the ambassadors to “convey the true picture of Iraq and the state of safety in its cities,” pointing out that “presidents, leaders and politicians expressed their support for Iraq in His efforts to consolidate security and stability and their desire to establish effective relations with him.


In their turn, the ambassadors of the Arab countries affirmed, “their countries’ keenness and desire to expand the horizons of cooperation in a way that secures the supreme interests of all and achieves the aspirations of the peoples for prosperity and progress.”


And the Emirati ambassador stated that “his country is keen to strengthen relations between the two countries,” stressing that “there are companies ready to work in Iraq.”


The Saudi and Kuwaiti ambassadors touched on “the importance of investing in Iraq and working to develop an investment protection agreement in a way that motivates the investor to start direct steps to work.”


The Saudi ambassador considered that “the economy has become a substitute for the use of military force,” pointing to “the necessity of coordination, cooperation and facilitation of procedures in order to develop investment work and exploit available opportunities.”


For his part, the Lebanese ambassador pointed to “the need to support the private sector, which needs real partnership with the public sector.”


An Economist Explains The Reasons For The Decline In Dollar Exchange Rates


Posted On2023-01-25 By Sotaliraq  Today, Tuesday, economist Nabil Al-Marsoumi explained the reasons for the decline in the price of the dollar against the Iraqi dinar.


Al-Marsoumi said in a post entitled “Why did the price of the dollar decrease against the dinar?”, “The Central Bank of Iraq’s sales for today: –  Transfers and credits = 17.374 million dollars.


Cash sales = $59.900 million.  Total sales = 77.274 million dollars.


The economist added, “There is no change in the fundamentals, cash sales are still the largest, and remittances and credits are the lowest, and this means that the decline in the dollar exchange rate is not linked to the application of compliance rules for the electronic platform developed by the US Federal Bank, but rather it is linked to good market sentiment and psychological motives resulting from the procedures.” the last government and replace the governor of the Central Bank of Iraq.   LINK’


The Minister Of Finance Is Discussing With A Number Of Deputies The Maturation Of The Necessary Laws To Achieve The Comprehensive Development Of The Economy


Wednesday 25 January 2023 16:07 | Economical  Number of readings: 140  Baghdad / NINA / – The Minister of Finance, Taif Sami Muhammad, discussed with a number of deputies issues related to the financial and economic aspects and the maturity of the laws necessary to achieve the comprehensive development of the economy.


The ministry said in a statement: “The minister met a number of members of the House of Representatives and discussed with them axes related to the financial and economic aspects.”


She added: “The meeting focused on the need to redouble efforts between the ministry and the Parliamentary Finance Committee, and to follow up on the most important basic programs included in the draft of the next budget bill, in order to reach common visions and mature the necessary laws according to what is imposed by the goals of the comprehensive development of the Iraqi economy.”/ Ended h


The Minister Of Oil Directs The Resumption Of Equipping (275) Factories In The Construction Sector Related To Fuel


Wednesday 25 January 2023 18:02 | Economical Number of readings: 57  Baghdad / NINA / – The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani, directed today, Wednesday, to resume processing 275 factories in the construction sector for fuel.


A statement by the Ministry of Oil stated, “Abdul-Ghani directed the resumption of supplying 275 private sector factories with the prescribed quotas of fuel, which were suspended from production for various reasons, during his chairmanship of the leadership operations meeting.”


Abdul-Ghani said, according to the statement, that “the ministry is keen to support private sector factories with fuel, in order to increase national production, and provide primary and basic construction materials for citizens, and for the various service sectors.”


The statement indicated, “The covered construction sector includes brick factories, thermostone, gypsum, porc, and others.”/ End 2


Economist: The Cabinet’s Decision To Use Points Of Sale Collides With Society’s Culture


Money  and business    Economy News – Baghdad  Banking expert, Mahmoud Dagher, considered that the Cabinet’s decision to force institutions and stores to use points of sale is an important step.


Dagher said in an interview with “Al-Iqtisad News”, that “the problem facing this decision is the culture of society that loves to use cash instead of electronic payment tools.”


He added, “This decision will withdraw part of the money hoarded in homes and put it in the banking sector,” stressing that “the decision needs a long period to change society by encouraging it through discounts and others.”


Dollar Exchange Rates Are Rising Again In The Iraqi Market


Economie| 10:33 – 01/25/2023   Baghdad – Mawazine News  Today, Wednesday, the exchange rates of the dollar witnessed an increase in the local stock exchange. Selling price: 161,000 dinars per 100 dollars


Buying price: 160,000 dinars per 100 dollars




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