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Tuesday Morning Iraq Economy News Highlights 8-29-23

Site: Abu Dhabi Commercial Bank Selects Banks To Test The Appetite For A Possible Green Bond Offering

Arab and international   Economy News-Baghdad  Fixed Income Instruments News Service reported on Tuesday that Abu Dhabi Commercial Bank intends, subject to market conditions, to issue dollar-denominated five-year green bonds after scheduled investor meetings on Aug. 30.

The UAE bank itself, Barclays Banks (LON:BARC), Deutsche Bank, Emirates NBD Capital, JPMorgan and Mizuho are tasked with handling the books for arranging the meetings, while Barclays acts as the sole ESG coordinator.   Views 19  08/29/2023 –

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 disturbed 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 52  Added 08/29/2023 –

Iraq And Turkey Stress The Importance Of Increasing The Volume Of Trade Exchange

2023-08-29 | Today, Tuesday, the Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, discussed with Turkish Minister of Trade Omar Polat all issues related to the development of bilateral relations between the two countries, while the two sides stressed the importance of increasing the volume of trade exchange between Iraq and Turkey.

A statement by the Ministry of Planning , received by Alsumaria News, stated that “Deputy Prime Minister and Minister of Planning, Muhammad Ali  Tamim, received the Turkish Minister of Trade, Omar Polat, and his accompanying delegation, which included a number of Turkish officials and businessmen.”

He pointed out, “During the meeting, they discussed all issues related to the development of bilateral relations between the two countries, in the economic, investment and trade fields.”

The statement added, “The two sides affirmed their great keenness to enhance cooperation and joint action, in a way that contributes to developing the investment environment in Iraq and increasing the volume of trade exchange between Iraq and Turkey.”  LINK

The Exchange Rates Of The Dollar Against The Iraqi Dinar In The Local Markets

Economy  2023-08-29 | 4,897 views  Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in the Iraqi local markets, for Tuesday, August 29, 2023.

The selling prices in exchange shops in the local markets in the capital, Baghdad, witnessed an increase, as the selling price reached 154,750 dinars, while the purchase price reached 152,750 dinars for every 100 dollars.

And the Central Bank of Iraq  decided, earlier, to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of purchasing a dollar from the Ministry of Finance  reached 1,300 dinars per dollar and sold it at (1310) dinars per dollar to banks through the electronic platform, and sold at (1320) dinars per dollar. Dollars from banks and non-bank financial institutions to the final beneficiary.   LINK

Nuri Al-Maliki Reveals The Reason For Al-Kazemi’s Contacts With Him, The Secrets Of Iranian Gas And The Relationship Of Former US President Bush

Policy  2023/08/29, Number of readings: 165 Baghdad-Iraq today:  The leader of the State of Law coalition said that the Coordination Framework bloc is “more important than the elections and more important than the government.” He talked about his “continuous” contacts with former Iraqi Prime Minister Mustafa Al-Kazemi, and also confirmed his openness to reconciliation with the leader of the Sadrist movement.

Nuri al-Maliki, head of the State of Law Coalition, said in a televised interview, that: “The decision of the framework is to keep itself coherent, and I have said it repeatedly that the framework is more important than everything, even more important than the elections and the government. Without the unity of the framework, we would not have reached what we have reached today.”

Regarding the reconciliation efforts with al-Sadr, al-Maliki said, “My hand will remain extended to Sayyid Muqtada al-Sadr, and every attempt at reconciliation is welcome, and he does not stop at the question of my going to Hana, or the Sayyid’s coming to Baghdad.

And about his relationship with Mustafa Al-Kazemi, he also said, “Al-Kazemi is not afraid of me, and calls me from abroad, and sends me some information that he sees and hears abroad, and the last time he contacted me was a month ago He considered that the cabinet reshuffle in the Sudanese government is necessary, as he said, “I find it necessary in the blood reshuffle reshuffle.

And about the upcoming local elections, Al-Maliki explained: The decision in the coordination framework was to enter the provincial council elections with one list, but we found it technically difficult to organize one list for ten parties, and some of the Brotherhood were not convinced, but when they became small lists they found difficulties in these small, coordinated groups.

And he pointed out, “We can enter the arena through several better doors. If the public does not want to elect a specific party, it can elect other parties, so as not to refrain from electing the entire framework,” stressing that “the list of the state of law will be swept away, God willing.”

Bush and Talabani relationship

Al-Maliki also recalled his contacts with former US President George W. Bush about exempting Iraq from sanctions imposed on Iran, especially in the field of gas imports, and explained how he obtained exceptions from Washington, and said that Ambassador Alina Romanowski was “very” positive” when they discussed the matter during “His Few Encounters”.

And he said in the same dialogue, “The sanctions regime on Iran is old, even in the time of Bush, and we used to buy electricity and with it gas from Iran, and some commercial issues, so the sanctions imposed on Iran included us , so America stopped Iraq from buying gas and some commercial materials, and he continued, “so I called Bush, and I told him, you claim to serve Iraq and its people, but the inclusion of Iraq by preventing it from gas and electricity is Paid for by the Iraqi people, so where is your support?

He asked me what is required? So I asked him to exempt Iraq from the sanctions imposed on Iran, and indeed, it issued exemptions for Iraq annually.

And about his meetings with the American ambassador to Iraq, Al-Maliki replied, “I have a few meetings with the American ambassador, but my last meeting with her was positive, when I asked her to exempt Iraq from the sanctions. When the delegation left , she said, “We will contact the American leaders directly and we will talk to them about it.” When I spoke with the British ambassador, I raised the issue, as they influence American politics, and I asked him why this position harms the Iraqi people, and he promised that he would follow up with them. LINK

An American Newspaper Reveals A Secret Visit Of Three Members Of Congress To Northern Syria

Information/translation…   A report by the American newspaper Star and Stripe revealed, on Monday, that three Republican members of Congress made a quick secret visit yesterday to the areas of northern Syria that are controlled by the Kurdish forces allied with the United States.

The report, which was translated by the information agency, stated, “This is the first visit of its kind by American lawmakers in six years to express their support for those forces and call on the Biden administration and America’s allies to continue pressure on Syrian President Bashar al-Assad,” according to the newspaper’s allegations.

He added, “The visit, which lasted about an hour, was a sign of the Republican members’ long support for the so-called” opposition “in Syria, which reveals the fact that the United States was behind the terrorist groups that caused the destruction of the country and the killing of thousands of Syrian civilians as a result of the war. On behalf of”.

“This visit comes at a time when Middle Eastern leaders are beginning to restore relations with the government, and by doing so, Arab leaders are breaking sharply from the United States and its imperial interests in the region,” he said.

The report stated that “the three members of Congress, who are Fringe Hill, Kevin McCarthy and R. Calf, entered Syria from Turkey through the Bab al-Salama crossing in northern Aleppo governorate without the permission or approval of the Syrian government, which constitutes a clear violation of international protocols and laws.”

He pointed out that “security concerns were among the main reasons for concealing the visit, while the US State Department refused to comment on the reasons for the visit by members of Congress.” LINK

Al-Sarraj: America Is Waging Psychological Warfare Against Iraq And Will Not Risk Any Military Foolishness

Information / Baghdad…  Political analyst Ibrahim al-Sarraj accused America of practicing psychological warfare against Iraq, stressing its inability to risk any military intervention, as it had experienced it previously.

Al-Sarraj told Al-Maalouma, that “America will not risk sending 3,000 soldiers to occupy Iraq, but there are electronic armies that have begun to promote in favor of the American side, as well as some satellite channels and communication sites that have promoted that the American army will enter into a war with Iraq and will overthrow the government.” .

He added, “What happened in terms of promoting the US army is nothing but a psychological war against the Iraqi people, especially after the success achieved by the Sudanese government at various levels and fields.”

And he indicated that “there is a state of security, political and social stability, which is something that America does not want, and therefore it has resorted to the method of psychological warfare in order to create a crisis and stir up popular circles.” LINK