Samson: Iraq Stock Exchange signs agreement with US stock exchange on trading technology
18th July 2019
The Iraqi market for Iraqi securities, Thursday, the signing of a new agreement with the US stock exchange on the technology of trading and deposit securities.
“NASDAQ and the Iraq Stock Exchange (ISX) have signed a new agreement to expand their technology relationships for the next five years starting from October 2019,” the market said in a statement received by Alsumaria News . “NASDAQ Will continue to license, support and maintain ISX systems and upgrade the next five years trading and deposit technology (CSD) technology.”
“The use of NASDAQ technology is a positive signal for local and international investors and regulators that Iraq will step up its efforts to become an important financial center for securities trading,” said Taha Ahmed Abdul Salam , chief executive of the market.
For his part, Managing Director , showed the Nasdaq region of the Middle East , Michelle Carlson , “through the next development and use of the latest technological Nasdaq technology, ISX will join the community of stock exchanges in the region of the Middle East in the deployment of multi – trading high – quality technology assets in line with international standards, we look forward To support ISX while continuing to develop and innovate.” LINK
Strongcbm: Now this is a HUUUUUUUGE example of Frank’s quote “beyond the RI”
No way in the world NASDAQ do this with a sanctioned currency…
BlaqueBeauty: ummm so is this saying they are starting something together in October or the RI? Just for clarity thank you…
StephenMac63: Im seeing it differently.
“NASDAQ and the Iraq Stock Exchange (ISX) have signed a new agreement
This tells me there is an agreement in place already
NASDAQ Will continue to license.
Meaning there is already a license.
Iraq will step up its efforts to become an important financial center for securities trading,
Meaning this will be an improvement from an existing situation.
through the next development
meaning there was a last development
So, take this article and assume that Iraq will be going online into the international world on Oct 1, this means the IQD should be introduced long before this happens….our RI.
If we had our RI right at this moment, this would allow 3 months for us to exchange if we wanted…., iraq can create a “buzz” for investments in the international arena
.
This is a great article, its showing progress in the right direction and Iraq has gone through a lot to get to this point……….IMO, of course
Coco: I agree with Stephenmac63. I believe a public reinstatement has to take place in this fiscal quarter ending September 30, 2019, prior to going international on October 1, 2019. It can be done anytime between now and September 30th.
When the United States went off the Gold Standard on August 15, 1971, it was about 6 weeks prior to the end of our fiscal quarter and fiscal year. I believe that if we are to go back on the Gold Standard the same time frame was significant then and will be again.
I also read a number of years ago that Iraq’s Fiscal year ending which is currently 12-31 each year would be changed to 9-30. Perhaps these two events (US returning to Gold Standard and Iraq re-instatement publicly) will coincide. Time will tell.
Samson: China gives up US Treasuries
18th July, 2019
The latest US Treasury Department report showed that China has reduced its holdings of US Treasury bills and bonds for four months while Arab countries have increased their investments in these bonds.
According to the report, China’s investment, the largest holder of US Treasuries in bonds, was $ 1.110 trillion in May, up from $ 1.113 trillion in April.
The data showed that China cut its investment in these bonds for a fourth consecutive month from February to May, reducing its holdings of bonds gradually from $ 1.130 trillion to $ 1.110 trillion, a reduction of about $ 20 billion.
This comes in contrast to Saudi Arabia, which increased its investments in US bonds for the fourth month in a row, reaching $ 179 billion in May, up from $ 167 billion in February, an increase of $ 12 billion.
Kuwait also raised its investments in US bonds from $ 40.2 billion last April to $ 41.3 billion, an increase of $ 1.1 billion.
The UAE reduced its investments in US bonds from $ 55.7 billion in April to $ 53.2 billion in May, and Iraq also reduced its bond investment from $ 35.4 billion to $ 34.4 billion.
The US Treasury report includes investments in treasury bonds only and does not include other investments in securities, assets and cash in US dollars. LINK
Iggy: both china and russia has been doing this for about 2 years now…change is in the air…imo
Bglight13: Things that makes one go Hmmm…
Don961: Weather in Iraq: High temperatures will hit the country after three days
18/07/2019
(Independent) … Air Observatory Ali al-Ziadi confirmed on Thursday that a rise in temperature will hit the country after three days.
Ziyadi said in a press statement by (independent) on Thursday, that “temperatures begin to rise Thursday, a slight difference of two degrees to some places of the country to settle at 44 m in Baghdad, either Basra and Maysan record 46 m,” stressing that “a decline will take place on Friday And Saturday. ”
He added that “temperatures are expected to reach the next two days in the city of Baghdad, 42 m, as well as that the winds will be northwesterly active during the day, especially in the eastern sections of the country in the provinces of Basra and Maysan and may exceed 41 kilometers per hour with light dust.
“An air coup that will take place after three days will lead some areas of the country to the temperature of the intervention of the 50, especially in the cities of the south,” he said, adding that “this coup will continue for several days.” link
Samson: Opening of the marketing center in the city of Basmaya residential south of Baghdad
18th July, 2019
The National Investment Authority (INA) in the city of Basmaya opened on Thursday the shopping complex in the city, which has 46 shops.
The city’s representative in the city, Haider al-Husseini said in a statement, “Al-Ghad Press” that “the city of Basmaya housing implemented by the Korean company Hnwa currently inhabited by more than 30 thousand families, which requires the provision of their livelihood and needs of schools and health centers and security sites.”
He added that “the Commission opened today shopping center – the mall – in the city of Basmaya residential, which contains 46 shops ranging from food, household, electrical, clothing, restaurants and ovens, to meet the needs of families,” noting that “the location of the marketing center in the middle of the residential city, Suitable for domestic market prices. ” Husseini continued, “The current marketing center is one of the commercial areas in the city of Basmaya out of 25 commercial areas within the city A and city B”.
The Korean company Hanwa, the leader in the construction of residential complexes, is seeking to implement the contract with the National Investment Commission for the construction of 100 housing units in the city of Basmaya south of Baghdad as part of the national plan to alleviate the housing crisis in the country. LINK
*******************
Samson: British firm to develop 16km2 area around Iraq’s Baghdad Int’l Airport
18th July, 2019
National Investment Commission for Iraq has reportedly confirmed a scheme to develop the land around Baghdad International Airport into a mixed-use hub featuring residential units and sports centres.
According to a report by Reuters, NIC has approved plans for a British firm to develop 16km2 of the site, and negotiations are under way with Iraqi regarding the construction of the project’s remaining 49km2 area. The development surrounding Baghdad International Airport will also feature residential units that will be owned by local Iraqis.
Deputy director general of NIC’s economic department, Ammar Abdul-Jabbar Mussa, reportedly said the project would support Iraq’s economic development and provide employment opportunities for the public. LINK
