Iraqi News Highlights Tuesday Evening 8-29-23
Tlm724 Administrator Bondlady’s Corner
Chairman Of The Finance Committee: The Path Of The New Central Bank Will Preserve The Cash And Exchange Rate
Economy News-Baghdad The head of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed that the path of the new central bank will preserve the cash and the exchange rate.
Al-Atwani said to the “Tenth” program, which is shown on Al-Iraqiya News, followed by “Al-Iqtisad News”, that “the path of the new central bank will preserve the cash and the exchange rate,” stressing that “there is no such thing as a parallel market, but there is a black market for selling the dollar.”
He added, “The turnout on the electronic platform has reached more than 85 percent,” noting that “the Central Bank wants to deal with solid companies that disclose the final beneficiary.”
He pointed out that “the border crossings do not collect more than 10 percent of the customs tariff,” stressing “the need for there to be determinants of trade in all its forms.”
He continued, “Irregular trade has confused the Iraqi economy,” noting that “there are paths not subject to the government that allow the entry of goods without fees.”
He went on to say: “You must review investment housing projects with high prices,” pointing out that “the Iraq Fund for Development aims to provide an attractive environment for investment.”
He pointed out that “the Baiji refinery will start working again after returning its stolen materials.”
Views 228 08/29/2023 – https://economy-news.net/content.php?id=35987
The Decline In The Exchange Rate In Baghdad And Erbil With The Closing Of The Stock Exchange
Economy Tuesday, August 29, 2023 Baghdad / The National News Center The prices of the US dollar fell against the Iraqi dinar, today, Tuesday, in the markets of Baghdad and Erbil, with the closing of the stock exchange.
The correspondent of the National News Center said, “The dollar prices decreased with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, to record 153,300 Iraqi dinars against 100 dollars, while the prices this morning were 153,800 dinars.”
He added, “The selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 154,250 dinars, while the purchase price reached 152,250 dinars for every 100 dollars.”
In Erbil, the dollar also recorded a decline, as the selling price reached 153,850 dinars for every 100 dollars, and the purchase price was 153,750 dinars for 100 dollars. https://nnciraq.com/224045/
Central Bank Sales Amounted To More Than 195.9 Million Dollars
Economy News-Baghdad Today, Tuesday, the sales of the Central Bank of Iraq in the foreign currency sale window amounted to more than 195.9 million dollars.
The Central Bank’s website published a schedule of its dollar sales, and “Al-Iqtisad News” reviewed it, as it included the participation of 26 banks and 132 exchange companies, and covered external transfer requests of $157.8 million, while cash requests amounted to more than $38.1 million.
And the Central Bank of Iraq sells the dollar for documentary credits and international settlements of electronic cards at a price of 1305 dinars per dollar, per dollar for documentary credits and international settlements of electronic cards and at a price of 1310 dinars per dollar for external transfers and at a price of 1310 dinars per dollar in cash. 40 views 08/29/2023 – https://economy-news.net/content.php?id=36005
Slight Declines In Oil Prices Amid Anticipation Of Economic Data In America
Economy | 08/29/2023 Baghdad – Mawazine News Oil prices fell slightly on Tuesday, as the market offset fears of lower demand due to the possibility of raising US interest rates for concern that a tropical storm off the US Gulf coast would affect supplies.
By 0032 GMT, Brent crude had fallen to $84.40 a barrel. West Texas Intermediate crude fell three cents to $80.07.
Investors are looking forward to important data from the US economy later this week that will help determine the course of interest rates this year and next.
US Federal Reserve Chairman Jerome Powell said on Friday that the bank may have to raise interest rates further to calm inflation.
Meanwhile, Tropical Storm Adalia lashed western Cuba on Monday and turned into a hurricane as it headed toward Florida. The storm is likely to cause power outages and may affect crude oil production on the eastern side of the US Gulf Coast.
The focus this week will be on the US PCE price index due for release on Thursday and the non-farm payroll data for August on Friday.
Investors are still concerned about the economic recovery in China, as well as about the demand for oil in its second largest consumer in the world. https://www.mawazin.net/Details.aspx?jimare=234076
The European Union Praises The “Significant Achievements” Of The Iraqi Government In Combating Corruption
Economy News – Baghdad The head of the Federal Integrity Commission, Judge Haider Hanoun, affirmed, on Tuesday, Iraq’s keenness to adhere to international commitments, charters and agreements, especially those related to combating corruption, pointing to the concerted efforts of the three authorities and their cooperation with the oversight agencies to achieve a response to the articles and provisions of the International Convention against Corruption.
And the Integrity Commission stated in a statement, “Judge Haider Hanoun reviewed, during his speech at the workshop held in cooperation between the Federal Integrity Commission and the United Nations Anti-Corruption Program, to enhance the knowledge and skills of the participants about the United Nations Convention and the review mechanism for countries’ compliance with its articles and chapters. He reviewed Iraq’s efforts in Responding to the decisions of the second and fifth review chapters of the Convention on preventive measures and asset recovery.
And Hanoun stated, “Iraq has made great strides in this field and worked on draft laws in this regard, including: draft laws on the right to obtain information and recover the proceeds of corruption and the second amendment to the Integrity and Illicit Gain Commission Law No. (30 of 2011), which will include subjugating the private sector.” provisions for money inflation and illegal gain.
He stressed “working with all partners to eradicate the scourge of corruption, especially the executive authority, which has placed combating corruption in its first priority in its government program,” noting that “increasing red-handed detection operations carried out by the authority’s staff contributes to achieving two important goals: deterrence and prevention, The latter is part of the preventive measures to combat corruption.
Hanoun appreciated “the role of international organizations such as the UNDP and the European Union in assisting Iraq in the field of legal aid and training.”
For her part, the representative of the European Union mission to Iraq, Barbara Iger, praised the “efforts of the government of Prime Minister Muhammad Shia’a al-Sudani in combating corruption,” describing what “Iraq is doing in the field of corruption prevention and asset recovery as great achievements that will receive reinforcement and cooperation from the European Union mission.” in Iraq”.
Iger continued: “Iraq is on its way to extract international recognition of its efforts, and we hope that this will culminate in the next review to be held at the end of this year.”
In turn, the Resident Representative of the United Nations Development Program, Yama Turabi, praised “the Republic of Iraq’s tendency towards enacting laws that contribute to strengthening preventive measures,” calling for “a mixture of legal frameworks and mechanisms for applying these frameworks,” noting that “the Authority’s action to automate procedures related to asset recovery And the readiness of the United Nations Development Program to assist the authority in this.
Views 54 08/29/2023 – https://economy-news.net/content.php?id=36028
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