Bondlady’s Corner – Iraq Economic News and Points to Ponder Monday Afternoon 11-6-23


Iraq Economic News and Points to Ponder Monday Afternoon 11-6-23

Tlm724 Administrator Bondlady’s Corner

Oil Prices Rise Due To The Voluntary Reduction In Production By Saudi Arabia And Russia

Monday 06, November 2023 | Economical Number of readings: 432  Baghdad / NINA / Oil prices rose, today, Monday, after Saudi Arabia and Russia, the two largest oil exporting countries in the world, confirmed the continuation of the voluntary reduction in their production until the end of the year, which keeps the supply scarce.

By midnight GMT, Brent crude futures rose 41 cents, or 0.5%, to $85.30 per barrel, while US West Texas Intermediate crude reached $81.05 per barrel, up 54 cents, or 0.7%.

Both crude oil prices witnessed their second weekly decline in a row last week, with a decline of about 6%, driven by the easing of the geopolitical risk premium that arose from fears of supply disruptions due to the potential expansion of the conflict in the Middle East./ End

Central Bank Sales Today Exceed $227 Million

Monday 06, November 2023 13:23 | EconomicalNumber of readings: 353

Baghdad / NINA / The Central Bank of Iraq announced, today, Monday, its total sales of foreign currency through the electronic window.

He stated: “The total amounts of transfers abroad (remittances, credits) amounted to $199,757,755, while the total amount of cash sales amounted to $27,690,000, and the total amount of sales amounted to $227,447,755.”

The cash sale price was set at 1,305 dinars per dollar, while bond credits, international settlements for the electronic card, and foreign transfers were set at 1,310 dinars per dollar. /End 11

It Exceeded 167 Thousand Dinars… A Skyrocketing Dollar Price In Baghdad

2023/11/06 Read: 897 times  {Economic: Al-Furat News} The prices of the dollar rose against the Iraqi dinar, today, Monday, significantly with the closure of the main stock exchange in Baghdad.

Dollar prices recorded 166,800 dinars against 100 dollars with the closure of the Al-Kifah and Al-Harithiya stock exchanges, while prices this morning were 164,250 dinars against 100 dollars.

Until the selling prices in the exchange shops in the local markets in Baghdad rose, as the selling price reached 167,750 Iraqi dinars for 100 dollars, while the purchase price reached 165,750 dinars for 100 dollars.    LINK

The Iraqi Stock Exchange Closed Up By 0.77%

Market   Economy News – Baghdad  The Iraqi Stock Exchange closed, rising by 0.77% during Monday’s session, and the ISX 60 index reached 839.67 points.

Investors traded 1.23 billion shares, worth 1.21 billion dinars, through 808 transactions.

The trading companies were 37 companies, the high companies were 17 companies, and the low companies were 9 companies.

The most active companies were (Sumer Commercial Bank, Gulf Bank, Iraqi Investment Bank, Al-Mansour Bank, and Bank of Baghdad). Views 23 11/06/2023 –

The American Ambassador Reveals The Outcomes Of The Sudanese And Blinken Meeting

Monday 06, November 2023 11:38 | Political Number of readings: 752  Baghdad / NINA / The US Ambassador to Iraq, Elena Romanowski, revealed today, Monday, the outcomes of Prime Minister Muhammad Shiaa Al-Sudani’s meeting with US Secretary of State Anthony Blinken, in Baghdad.

The ambassador said in a blog post on the “x” website: “Secretary of State Anthony Blinken met with Prime Minister Muhammad Shiaa Al-Sudani, yesterday, Sunday, in Baghdad, and the two parties discussed the ongoing conflict between Israel and Hamas and the need to avoid the expansion of the conflict, including Iraq.”

She added: “Blinken discussed the humanitarian situation in Gaza, and our continued commitment to coordination with Iraq and our other partners in the region to ensure sustainable and safe access to food, water, medical care, and other necessary assistance to meet the necessary needs.”

The American ambassador stated: “The two sides discussed the need to ensure that the Palestinians are not forced to leave the Gaza Strip forcibly.”

She confirmed: “Blinken urged the Iraqi Prime Minister to hold accountable those responsible for continuing attacks against American forces in Iraq and to fulfill Iraqi obligations to protect all facilities that host these individuals who are there at the invitation of the Iraqi government,” indicating: “The United States will defend its interests and individuals.” . /End 11

The Ministry Of Planning Discusses The Work Mechanisms For Following Up On Japanese Agency Loan Projects

Monday 06, November 2023  Economical Number of readings: 194  Baghdad / NINA / the Ministry of Planning discussed the work mechanisms for following up on Japanese agency loan projects during an introductory workshop it held in cooperation with the United Nations Development Programme.

The Director General of the Department of International Cooperation, Saher Abdel Kazem Mahdi, said in a statement to the ministry: “The Japanese loan includes many projects, the number of which exceeds more than 30 projects in various sectors,” indicating that the role of the United Nations Development Program is to follow up on the procedures for this loan within a steering committee. The Council of Advisors holds its meetings annually or semi-annually and prepares its follow-up report.”

For her part, the director of the Japanese loan project at the Japanese International Cooperation Agency (JICA), Shuri Otan, said: There are specific mechanisms for following up on Japanese loan projects, in addition to the requirements for the project and the mechanism for its implementation, follow-up and monitoring. Pointing out that there is a specific mechanism for listing projects in the Ministry of Planning, and that JICA has a specific mechanism for selecting projects through the availability of a number of requirements for selecting the project.

He pointed out that “there must be compatibility between the requirements of the Ministry of Planning and the requirements of the lender in selecting projects.” In addition to the existence of specific mechanisms for monitoring projects from the lender, it is clear that the role of the Ministry of Planning in Japanese loan projects is to support the beneficiary ministries.”/End 8


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Provoking Points to Ponder on Exaggeration:

The habit of exaggeration becomes, in time, a slavish necessity, and they who practice it pass their lives in a kind of mental telescope through whose magnifying medium they look upon themselves and everything around them — J B Owen 

Perfectly truthful men of vivid imagination and great force of sentiment often feel so warmly, and express themselves so strongly, as to give what they say a disagreeable air of exaggeration and almost falsehood — 
J F Boyes

Exaggerated language employed on trivial occasions spoils that simplicity and singleness of mind so necessary to a right judgment of ourselves and others  – Those who exaggerate in their statements belittle themselves —
 C Simmons 

Some men can never state an ordinary fact in ordinary terms — All their geese are swans, till you see the birds —
 J B Owen

There is no strength in exaggeration; even the truth is weakened by being expressed too strongly