Bondlady’s Corner – Iraq Economic News and Points to Ponder Saturday Evening 1-6-24


Iraq Economic News and Points to Ponder Saturday Evening 1-6-24

Tlm724 Administrator Bondlady’s Corner

The Dollar Rises Again Against The Dinar In The Parallel Market

Economy |06/01/2024  Dollar prices rose again in the markets of the capital, Baghdad and Erbil.

A source told Mawazine News that “dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 153,300 dinars against 100 dollars, while prices yesterday, Monday, were 1,534,750 dinars against 100 dollars.

” He pointed out that “selling prices in exchange shops in the local markets in Baghdad decreased as The selling price reached 153,250 Iraqi dinars, while the purchasing price reached 152,250 dinars per 100 dollars.  In Erbil, an increase was recorded in the exchange shops, the selling price was 153,850 dinars against the dollar, and the purchasing price was 153,750 dinars against 100 dollars.

Oil Prices Jump By About 2% As Tensions In The Middle East Increase

Saturday 06, January 2024 08:46 | Economical Number of readings: 355  Baghdad / NINA / Oil prices rose by more than a dollar during trading yesterday evening, Friday, with US Secretary of State Anthony Blinken preparing to visit the Middle East in an attempt to contain the raging regional tensions as the conflict intensifies between Israel and Hamas.

Brent crude futures rose $1.17, equivalent to 1.51%, to $78.76 per barrel, and US West Texas Intermediate crude futures increased $1.53, equivalent to 2.12%, to $73.72.

The two benchmark crude oils recovered almost all of the losses they incurred on Thursday, when settlement prices recorded a decline after a volatile session due to a large weekly increase in gasoline and distillate stocks.

Both crude oil standards are heading to end the first week of the year on the rise, after almost recovering their losses from last Thursday due to large increases in US gasoline and distillate stocks./ End 9

More Than $600 Million In Sales From The Iraqi Central Bank In A Week

Economy  Saturday, January 6, 2024 Baghdad/National News Center  The Central Bank of Iraq’s total sales of hard currency to the US dollar during the past week amounted to more than 600 million dollars.

During the past week and for the three days in which the auction was opened, the Central Bank of Iraq sold 634 million 373 thousand and 298 dollars, at a daily rate of 211 million 457 thousand and 766 dollars, lower than what it recorded last week, which amounted to 1 billion 22 million 302 thousand and 804 dollars.

The highest dollar sales were on Sunday, when sales amounted to 221 million, 451,693 dollars, while the lowest sales were on Wednesday, when sales amounted to 205 million, 298,248 dollars.

Foreign remittance sales during the past week amounted to 554 million, 161 thousand and 278 dollars, an increase of 86% compared to cash sales, which amounted to 80 million, 212 thousand and 20 dollars.

As for the sales that went in the form of cash and transfers abroad to finance foreign trade, the selling price of the amounts of documentary credits and international settlements for electronic cards reached 1,305 dinars per dollar, while the selling price of the amounts of transfers abroad and the cash selling price reached 1,310 dinars per dollar.

Unprecedented”… Trade Announces The Opening Date Of The Baghdad International Fair

Time: 01/07/2024 Read: 338 times  {Economic: Al-Furat News} The Ministry of Commerce has set the opening date for the activities of the Baghdad International Fair in its new session.

The Ministry’s Director General of Follow-up and Planning, Talib Hassan Nimah, said in a press statement, “Next Wednesday, the activities of the 47th Baghdad International Fair will begin with the participation of 20 countries and 800 local, Arab and foreign companies.”

He stated, “The General Company for Exhibitions and Commercial Services in the Ministry is preparing to open the work of the 47th Baghdad International Fair next Wednesday, corresponding to the 10th of this month, for a period of ten days, including the exhibition, which will be under the slogan (Iraq Continues), the largest economic event that differs from previous exhibitions.” “His preparations began early in order for him to emerge in his splendid form.”

He stated that the participation of countries in the exhibition increased from 13 during 2023, to 20 for the current year, and the largest currently is the Kingdom of Saudi Arabia in terms of the number of its companies, which amounts to 140, in addition to the participation of foreign countries such as Germany, Japan, Spain, Turkey, Iran and India, in addition to Arab countries such as the Emirates, the Sultanate of Oman and Egypt. Syria,

in addition to the participation of the Czech Republic and Azerbaijan, is the first in the exhibition, limiting the number of participating local, Arab and foreign companies to 800, including 509 within the pavilions of the participating countries.

Nimah pointed out that the exhibition will organize, during its activities, artistic and cultural folklore events that embody the civilization of Mesopotamia, which will constitute an attraction point for foreign investors, and increase the frequency of contracting companies between the Iraqi and international private sectors, in a way that is compatible with the reconstruction and construction campaigns in the country, and contributes to achieving a partnership to support the economy. Because the country has advantages for industrial and agricultural investment in various aspects.    LINK

Iraq Is The Third Arab Country Spending The Most On Electronic Games In 2023

Economy News – Baghdad  Iraq ranked third as the largest Arab country spending on electronic games for the past year 2023, according to Bloomberg, today, Saturday.

The American agency stated that Saudi Arabia ranked as the highest Arab country spending on electronic games in 2023, as total consumer spending reached $1.89 billion during the previous year, an increase of 13% over the year 2022, while Egypt came second with a spending volume of $1.71 billion last year. An increase of 17% over the year 2022.

She pointed out that “Iraq ranked third for last year 2023, with total spending reaching $90 million, an increase of 11.1% over the year 2022. Algeria came in fourth place, with total expenditures for last year reaching $72 million, while the UAE ranked fifth, reaching $72 million.” Total expenses are $66 million.”

According to Bloomberg, “Morocco came in sixth place with total expenditures of $47 million, Sudan came seventh with $29 million, while Kuwait came eighth with $26 million, while Qatar came in ninth place with $26 million, while Lebanon came tenth with $25 million.” .

Views 72  Added 01/06/2024 – 2:06 PM

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Provoking Points To Ponder on Adversity:

What we want is never simple.- Linda Pastan

For me life is a challenge. And it will be a challenge if I live to be a hundred or if I get to be a trillionaire.- Beah Richards

To be thrown upon one’s own resources is to be cast into the very lap of fortune, for our faculties then undergo a development and display an energy of which they were previously unsusceptible.- Benjamin Franklin

Every failure made me more confident. Because I wanted even more to achieve things, as revenge. To show that I could.- Roman Polanski

Adversity is, to me at least, a tonic and a bracer.- Sir Walter Scott

Difficulties should act as a tonic. They should spur us to greater exertion.- B. C. Forbes

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