Bondlady’s Corner – Iraq Economic News and Points to Ponder Late Thursday Evening 12-14-23


Iraq Economic News and Points to Ponder Late Thursday Evening 12-14-23

Tlm724 Administrator Bondlady’s Corner

Oil Is Recovering From Its Lowest Levels In Months After A Decision By The US Federal Reserve

Economy | 12/14/2023  Baghdad – Mawazine News   Oil prices rose in trading on Thursday, in light of the decline of the dollar after the US Federal Reserve decided to stabilize interest rates at their current level.   By 09:25 Moscow time, US crude futures rose by 0.46% to $69.79 per barrel, while Brent crude futures rose by 0.55% to $74.67 per barrel.

The rise in black gold prices came in light of the decline of the US currency, after the US Federal Reserve decided to stabilize the interest rate.

The dollar index, which measures the value of the US currency against a basket of major currencies, fell by 0.25% to 102.61 points.

A Parliamentary Committee Shows The Impact Of Reducing Voluntary Oil Production On Iraq’s Revenues

Economy | 14/12/2023  Mawazine News – Baghdad  The Oil, Gas and Natural Resources Committee, today, Thursday, determined the Iraqi government’s position on the decision to reduce voluntary oil production, while indicating the impact of reducing voluntary oil production on Iraq’s revenues.

Committee member Intisar Al-Jazairi said in an interview followed by Mawazine News, “When the Iraqi government agreed to the decision to voluntarily reduce voluntary production by 220,000 barrels per day during the first quarter of 2024, it must have a certain vision.”

She added, “The decision to reduce is in the interest of Iraq, given that the world today is witnessing many events, such as the war launched by Israel on Gaza,” pointing out that “increasing the export of oil quantities benefits internal revenues, but the export funds do not come immediately, which makes oil Under the hands of the government, and it issues it whenever it wants.”

A member of the Parliamentary Oil Committee explained that “the national SOMO company is the one that determines whether this reduction affects global markets or not,” indicating that “increasing exports may harm the government’s revenue rates, which is what prompts it to determine the amount of oil exported through SOMO.” “.

Earlier, 7 oil-producing countries within the “OPEC Plus” alliance took decisions to voluntarily reduce their production, by up to 1.571 million barrels per day, from the beginning of next May until the end of the year 2023. The decision announced by each country included it separately, in addition to… Saudi Arabia, Russia, the Emirates and Kuwait, as well as Iraq.

International Praise For Iraq’s Efforts To Combat Corruption

Economy News – Baghdad  On Thursday, Executive Director of the United Nations Office on Drugs and Crime, Ghada Wali, praised Iraq’s efforts to combat corruption and money laundering and engage the private sector.

The Integrity Commission stated in a statement, seen by Al-Iqtisad News, that “The Chairman of the Commission, Haider Hanoun, met with the Executive Director of the United Nations Office on Drugs and Crime (UNODC), Ghada Wali, and discussed with her effective mechanisms to reduce corruption in state institutions and protect the private sector from involvement in corruption.”

 He reviewed Iraq’s efforts in the field of combating corruption and spreading a culture of integrity, transparency, and accountability.

Hanoun pointed out, “The Authority, represented by its Department of Relations with Non-Governmental Organizations, seeks to spread ethical behavior in the public and private sectors, and to hold educational programs and seminars in the field of risk management in the private sector and its impact on applying integrity standards, providing security for businessmen and investment companies, and contributing to The government effort towards reconstruction and service provision.

He pointed out, “The Commission held workshops and training courses to develop the cadres of the regulatory agencies and the rest of the employees of state institutions,” praising “the development of the training programs of the Iraqi Anti-Corruption Academy and its digital transformation.”

She praised “Iraq’s efforts in the field of combating corruption and combating money laundering, as well as working with the private sector by holding conferences,” noting “Iraq’s participation and effectiveness in the CLUB project, and its endeavor to draw up a new strategy for integrity and anti-corruption and adequate preparation and preparation for it.”

Views 33 12/14/2023 –

The Iraqi Stock Exchange Closed Up By 1.12%

Market   Economy News – Baghdad  The Iraqi Stock Exchange closed, on the last day of trading this week, down by 1.12%.

The session traded shares of 39 companies, with the number of shares traded reaching 2 billion shares, with a value of 1.9 dinars.

Shares of Al-Iqtisad Bank rose by 11.1%, followed by Al-Tafif Islamic Bank by 10.1%, and Iraqi Meat Marketing by 8.9%.

Al-Amin Real Estate Investments shares fell by 6.7%, followed by Palestine Hotel by 4.3%.

Views 45 12/14/2023 –

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Provoking Points To Ponder From Inspirational Movie Quotes

18. Make every moment count, enjoy your life time and don’t waste it.

    All we have to decide is what to do with the time that is given to us. – from Lord of the Rings: The Fellowship of the Ring

19. The little things you do today could make a great difference in future.

    It’s what you do right now that makes a difference. – from Black Hawk Down

20. Don’t take missing any opportunities as a bad thing, you never know what life is trying to teach you.

    Our lives are defined by opportunities, even the ones we miss. – from The Curious Case of Benjamin Button

21. Achieving greatness is all about how much effort you make throughout the time.

    Great men are not born great, they grow great. – Mario Puzo, from The Godfather

22. Instead of seeking for happiness, live the moment and that’s where happiness exists.

    Me, I still believe in paradise. But now at least I know it’s not some place you can look for because it’s not where you go. It’s how you feel for a moment in your life when you’re a part of something and if you find that moment, it lasts forever. – from The Beach

beach23. If you wait for others to complete you, you’ll never be able to have peace in your mind whenever you’re alone.

    Only if you find peace within yourself will you find true connection with others. – from Before Sunrise

24. Always have hope. Be optimistic for your future.

    I know what I have to do now, I’ve got to keep breathing because tomorrow the sun will rise. Who knows what the tide could bring? – from Cast Away

25. Before you do anything, be clear of why you want to do it. The purpose is an important reason to support what you’ll do.

  To find something, anything, a great truth or a lost pair of glasses, you must first believe there will be some advantage in finding it. – from All the King’s Men