Iraqi News Highlights Saturday Afternoon 10-22-22
Tlm724 Administrator Bondlady’s Corner
The Foreign Currency Sale Window Needs These Measures
Economist to / Nina /: Saturday 22 October 2022 10:31 | Economic Number of readings: 229
Baghdad / NINA / – The expert in economic affairs, Safwan Qusay, confirmed that the process of the currency sale window includes several measures that the central bank must take.
Qusai said in a statement to the National Iraqi News Agency / NINA / that “the process of stabilizing the currency sale window requires the central bank to oblige Iraqi public and private banks to completely transform the transfer system through documentary credits and stop transfers, with the need to deal with major correspondent banks and coordinate with the Office of Financial Supervision To open a branch outside Iraq to track the movement of funds and the legality of the documents attached to the transfer operations, and follow up the physical movement of goods until they reach the final consumer with the establishment of a single database linking the Department of Companies Registrar, the Ministry of Planning, the currency sale window, Iraqi banks, correspondent banks, all the way to customs, taxes and even the regular local marketing centers. .
He pointed out: “The application of such measures will increase the ability of the Iraqi economy to develop, attract investors, stop fake transfers, and reduce the ability of the corrupt to launder money through the currency sale window.”
The economic expert stressed the need to review the licenses granted to some private banks and money transfer companies (exchanges) and withdraw those to whom the required banking business does not apply. / LINK
As Discussions Of The Division Of Positions Continue, Al-Fateh Sets Two Dates To Pass The Sudanese Government
Political | 04:05 – 10/22/2022 Special – Mawazine News, the representative of the Al-Fateh Alliance, Salem Al-Anbaki, confirmed, on Saturday, that there was no delay in the election session of the government booth.
Al-Anbaki said in an exclusive interview with Mawazine News Agency, “The session for voting to elect the ministerial cabinet for the government of Muhammad Shiaa Al-Sudani will be held either next Monday or Tuesday, and there is no justification or justification for postponing it.”
He stressed, “There are rights for the mass bases that participated in the elections, which constitutes a motive for not postponing the session.”
Al-Anbaki continued, “Political discussions are continuing between all parties until solutions are reached to the points of misunderstanding and disagreement, referring to the principle of political understanding regarding the division of the cabinet and the weights of the blocs that will be enough to solve any defect, especially in this dangerous stage in which the country is living.”
Learn About The Central Bank Of Iraq Auction Sales In A Week
Economie| 09:03 – 10/22/2022 Baghdad – Mawazine News, the Central Bank of Iraq’s auction sales of hard currency “dollars” during the past week amounted to more than one billion and 200 million dollars.
And the Central Bank sold during the past week for the five days in which the auction was opened, and from Sunday to Thursday, the amount of 1 billion and 214 million and 188 thousand and 628 dollars, at a daily rate of 242 million and 837 thousand and 725 dollars, up slightly by 3.03% from the previous week.
The highest dollar sales during the last week were on Monday, with sales amounting to 262 million and 428 thousand and 587 dollars, while the lowest sales were on Thursday, when sales amounted to 227 million and 608 thousand and 500 dollars.
Most of these sales went in the form of remittances abroad to finance foreign trade, while the selling price of the dollar transferred to bank accounts abroad, in addition to the cash sale, amounted to 1460 dinars per dollar. https://www.mawazin.net/Details.aspx?jimare=208920
Iraq Confirms Its Commitment To The OPEC Plus Agreement And Plans To Reduce Domestic Crude Consumption
Energy Economy News – Baghdad Iraq’s representative to OPEC, Muhammad Saadoun Mohsen, explained that the Ministry of Oil and the Iraqi state oil marketing company “SOMO” are committed to the latest OPEC Plus agreement.
Mohsen told Argos Media, that Iraq plans to reduce domestic crude consumption instead of exports to comply with its low share of production; Which goes some way to responding to Prime Minister-designate Muhammad Shia’a al-Sudani’s “concerns” regarding affordability.
It is worth noting that the members of OPEC + agreed, on the fifth of this month, to reduce production by two million barrels per day in next November, according to the group’s statement.
63 . views Added 10/22/22 – 5:15 PM Update 10/22/22 – 7:12 PM
US Consul Noah: America’s Relations With The Kurdistan Region Are Strong And Will Remain Strong
The US Consul General in the Kurdistan Region, Ervin Hicks, stressed the need to expand and deepen relations between the region and the United States of America.
In his first exclusive press interview with the NOAA Media Foundation, Hicks said that America is working to develop human rights and democracy in the Kurdistan Region and develop its relations with the region in the field of work and trade, in addition to working to strengthen the American Chamber of Commerce to provide job opportunities.
He added, “My goal in being here is to deepen and expand the historical bilateral relations between the Kurdistan Region and America, and the consulate in the region will become one of the largest American consulates in the world, where we invest about 800 million dollars.”
He pointed out that there is a decline in human rights issues, behavior with journalists and freedom of peaceful assembly in the Kurdistan Region, describing the relationship between the two sides as going beyond partnership, but rather becoming a friendship relationship between them.
In his interview with NOAA, the US Consul General in the Kurdistan Region, Ervin Hicks, said: “Our relations with the Kurdistan Region are strong and will remain strong, and we have common values in the field of life, freedom and prosperity, as well as we have common victims to end the dictatorship as well as stop the extremist theories of ISIS. But through blood as well, the relationship between the people of the Kurdistan Region with America in particular will remain strong.”
https://www.radionawa.com/all-detail.aspx?jimare=31786
Iraq Confirms Its Commitment To The OPEC Plus Agreement And Plans To Reduce Domestic Crude Consumption
Energy Economy News – Baghdad Iraq’s representative to OPEC, Muhammad Saadoun Mohsen, explained that the Ministry of Oil and the Iraqi state oil marketing company “SOMO” are committed to the latest OPEC Plus agreement.
Mohsen told Argos Media, that Iraq plans to reduce domestic crude consumption instead of exports to comply with its low share of production; Which goes some way to responding to Prime Minister-designate Muhammad Shia’a al-Sudani’s “concerns” regarding affordability.
It is worth noting that the members of OPEC + agreed, on the fifth of this month, to reduce production by two million barrels per day in next November, according to the group’s statement.
63 . views Added 10/22/22 – 5:15 PM Update 10/22/22 – 7:12 PM
https://economy-news.net/content.php?id=30342
Japan: Iraq Is A Strong Country Capable Of Encouraging Investment
Money and business Economy News-Baghdad On Saturday, the Japanese Foreign Ministry called on all political parties to cooperate with Minister-designate Muhammad Shia of Sudan in forming a new government that works to address challenges, while noting that Iraq is a strong country capable of encouraging investment.
“The Japanese government encourages political stability in Iraq in order to continue cooperation between the two countries and develop trade and investment relations,” said Kenisuke Nakaoka, Director General of the Middle East and Africa Department at the Japanese Foreign Ministry, in a statement reported by the official “Al-Sabah” newspaper.
The Japanese official added, “Next year, a ceremony will be held on the occasion of the twentieth anniversary of the Japanese presence in Al-Muthanna Governorate,” expecting that the ceremony will witness officials from both countries.
He stressed that “Iraq is a strong country capable of encouraging investment, diversifying sources of income and the return of non-governmental industries in order to engage many unemployed youth, especially since Iraq has entered a new stage in the political and economic fields.”
Nakaoka pointed out that “there are many projects that have been implemented, and some of them are continuing, by the Japanese companies (Jayaka) and (Jetro), and this work will continue, the provision of loans and soft grants, and the acceleration of the electricity process that revives the economy. and energy.” Views 122 Added 10/22/2022 – 10:05 AM Update 10/22/22 – 7:04 PM
https://economy-news.net/content.php?id=30333
The Investment Authority Clarifies The Fact That Al-Najjar Resigned
Money and business Economy News – Baghdad On Saturday, the National Investment Commission denied that its head, Suha Al-Najjar, had submitted her resignation and traveled outside Iraq.
The National Investment Commission said in a statement, “It denies the news circulated by a number of media sites about the submission of the Chairman of the National Investment Commission, Mr. Suha Al-Najjar, her resignation and her travels outside Iraq.”
And she stressed that “Al-Najjar is continuing her work and is present in Iraq, and that these news are false, and the media must investigate accuracy and credibility in transmitting the information, and that it is in the process of taking legal measures against those who published the news.”
69 . views Added 10/22/2022 – 5:18 PM Update 10/22/22 – 7:09 PM
https://economy-news.net/content.php?id=30343
Dollar Exchange Rates In Local Markets
Economie| 09:28 – 10/22/2022 Baghdad – Mawazine News, the dollar exchange rates decreased, today, Saturday, in the local markets.
And the selling prices of the dollar were 146.800 dinars per 100 dollars, while the purchase prices of the dollar were 146.700 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=208922
Oil Prices Are Rising Again
Saturday 22 October 2022 13:33 | Economic Number of readings: 220 Baghdad / NINA / – Oil prices rose again, after hopes of increasing Chinese demand and the weakness of the US dollar overshadowed concerns about a global economic slowdown and the impact of higher interest rates on fuel consumption.
Brent crude futures rose $1.12, or 1.2 percent, to settle at $93.50 a barrel.
US West Texas Intermediate crude ended trading Friday, up 54 cents, or 0.6 percent, to $85.05 a barrel. Both crudes fell earlier in the session by more than a dollar a barrel.
Brent crude rose 2 percent by the end of the week, while West Texas Intermediate crude fell by 0.7 percent.
Crude is gaining a boost from a looming European Union ban on Russian oil, as well as a two million barrel per day production cut by the OPEC+ cartel.
The swing of the US dollar, which usually moves inversely with oil prices, has led to oil price volatility.
And oil prices rose last Thursday after Bloomberg reported that Beijing was considering reducing the quarantine period for visitors from ten days to seven. There has been no official confirmation from Beijing yet. / End 8 LINK
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