Bondlady’s Corner – Iraq Economic News and Points to Ponder Tuesday Afternoon 1-16-24


Iraq Economic News and Points to Ponder Tuesday Afternoon 1-16-24

Tlm724 Administrator Bondlady’s Corner

Riyadh Renews Its Support For Baghdad’s Accession To The World Trade Organization And Reveals Free Facilities In Arar

Economy | 05:09 – 01/16/2024  Mawazine News – Baghdad  The Saudi commercial attaché in Baghdad, Faisal bin Abdulaziz Al-Hammad, renewed on Tuesday his country’s support for Iraq’s accession to the World Trade Organization, noting the provision of free facilities provided by Saudi Arabia in the trade exchange arena at the Arar port.

Al-Hammad said in a statement received by Mawazine News: “The Kingdom welcomes and supports Iraqi industries in Saudi markets and provides free facilities in the trade exchange arena at the Arar border port,” indicating “its efforts to file Iraq’s accession to the World Trade Organization.”

He added, “Soon the Kingdom will organize an exhibition for Iraqi industries in cooperation with the Iraqi Ministry of Trade.”

Al-Hamid called on Iraqi businessmen to “visit Saudi factories and see the quality of products and choose what suits them for the Iraqi markets,” stressing that “the Kingdom welcomes Iraqi businessmen to visit the Kingdom and meet with Saudi companies to discuss purchasing products and re-exporting from the Kingdom to Iraqi markets.”

He continued, “ Saudi products top the confidence and satisfaction of the Iraqi consumer, and this is what distinguishes us,” pointing out that “Saudi products conform to international specifications and standards.”

The Saudi commercial attaché thanked the Iraqi government for their cooperation in resolving the challenges that help raise the value of trade exchange between the two brotherly countries.

Sudanese Advisor: The Number Of Accounts Linked To Payment Has Increased To 15 Million

Economy | 01/16/2024  Mawazine News – Baghdad, Advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed today, Tuesday, fundamental developments related to electronic payment, while confirming that the number of accounts linked to payment has increased to 15 million.

Saleh said, in an interview followed by Mawazine News, that “fundamental developments have occurred regarding the electronic payment file, including the requirements for the process that requires opening a bank account, as the number of adults who own accounts has increased to about 15 million citizens, representing 60 percent of adults, as a result of the demand.” Increasing.

He pointed out that “the state’s plan includes reaching approximately 25 million adult citizens in the number of bank accounts by the end of the year 2025,” noting that “this issue achieves the principle of financial inclusion (i.e. providing and extending banking services to the poorest social segments and introducing them into the core of the financial process.”) for the country).

He explained, “The fundamental developments included improving the principle of direct electronic government collection, which flows into the unified treasury account and in a continuous process around the clock, which strengthens public financial governance and enhances the state’s resources by investing time in the financial resources flowing to the public treasury without delay.”

He continued, “Banking liquidity will be available in a transparent manner in the banking system, which will reduce the element of liquidity risks and unjustified banking financial hedging due to the lack of information about the flow of credit and debit funds, in addition to the expansion of the electronic payment circle that will provide customers through their banks with lines of credit or overdrafts and on… According to the customer’s credit record, this provides the necessary funds with additional limits for holders of credit cards and other digital payment methods.”

He pointed out that “all the benefits resulting from digital payments are only available through payment with electronic payment cards.”

The Dollar Is Declining Against The Dinar In The Local Market

Time: 01/16/2024 Read: 1,157 times  {Economic: Al-Furat News} The main stock exchange in Baghdad was closed today, Tuesday, due to the decline in the exchange rate of the dollar against the Iraqi dinar.

Selling prices in banking shops in local markets in Baghdad recorded 153,750 dinars for 100 dollars, while purchasing prices reached 151,750 dinars for 100 dollars.

The selling price this morning was 154,000 Iraqi dinars, while the purchase price was 152,000 dinars for every 100 dollars.   LINK

Rising Oil Prices

Tuesday 16, January 2024 09:06 | Economical Number of readings: 403  Baghdad/ NINA /Oil prices rose slightly today, Tuesday, after rising two percent last week.

Brent crude futures rose 12 cents, or about 0.2%, to $78.27 a barrel, and crude closed 14 cents lower yesterday, Monday.  US West Texas Intermediate crude also fell 17 cents, or 0.2%, to $72.52 per barrel./End2

Government Advisor: Facilitations For Establishing Factories In Iraq

Reconstruction and building  Economy News – Baghdad   Today, Tuesday, Advisor to the Prime Minister for Industry Affairs and Private Sector Development, Hamoudi Al-Lami, announced facilities for establishing factories that include the provision of land and soft loans, while confirming that Iraq is witnessing an industrial revolution.

Al-Lami told the official agency, followed by Al-Eqtisad News, that “the Prime Minister pays great attention to the industrial sector, specifically the private sector,” pointing out that “the Prime Minister, since assuming the responsibility of heading the government, has directed the provision of many packages to support the private sector in all fields.” .

He added, “Decisions were issued to grant facilities for establishing factories through the Agricultural Lands Authority, allocate the lands necessary to establish factories, and grant soft loans to investors, as well as to industrialists who wish to expand their industrial activity,” noting that “Iraq is now witnessing an industrial revolution in every sense of the word.”

He explained, “Nearly two months ago, the Prime Minister formed a team to support the industrial sector by order of Diwani,” noting that “this team meets every week in the advisory body and consists of 7 advisors in various sectors who look into the problems, obstacles, and means of support that the private sector needs.”

Al-Lami continued, “The private sector has now begun to feel, for the first time, that there is weekly follow-up from the Prime Minister in the field of supporting the private sector.”

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Biden Describes Iran’s Attacks On The Kurdistan Region As A Serious Threat The World

06:25 – 01/16/2024  Mawazine News – Baghdad  The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, informed US Secretary of State, Anthony Blinken, on Tuesday, of the need for the international community to take action after the Iranian Revolutionary Guard’s attack on Erbil.

A statement from Barzani’s office, received by Mawazine News, stated that he “met with Blinken on the sidelines of the World Economic Forum in Davos, Switzerland.”

He added, “At the beginning of the meeting, the US Secretary of State expressed his strong condemnation of the missile attack that targeted Erbil, stressing that it ‘considers a blatant violation of Iraqi sovereignty, and expressed his country’s condolences to the families and relatives of the victims of the attack.'”

Blinken reiterated that the United States and President Joe Biden They consider these attacks on the Kurdistan region a serious threat, and they are taking what is necessary to maintain the security and stability of the region, expressing their greetings, respect and appreciation to President Masoud Barzani.

In turn, the Prime Minister of the Kurdistan Regional Government stressed that these attacks are unjustified and illegal, and must be The international community must not remain silent regarding these attacks.

Barzani On The Erbil Attacks: They Must Not Remain Without A Response, And The International Community Must Condemn The Aggression

Political | 01/16/2024  Mawazine News – Baghdad  The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, confirmed that “the attacks on Erbil are without reason and must not remain without a response.”

This came in a press conference, the Prime Minister of the Kurdistan Regional Government in Davos, where he arrived yesterday to participate in the World Economic Forum.

During the conference, Masrour Barzani expressed his hope that “the international community will help stop the attacks.”

In this context, the Prime Minister of the Kurdistan Regional Government called on the Iraqi government to take a serious stance, saying: “We hope that the matter will not end with conviction alone.”

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Provoking Points To Ponder on Adversity:

Adversity is another way to measure the greatness of individuals. I never had a crisis that didn’t make me stronger.  – Lou Holtz

It is not in the still calm of life, or the repose of a pacific station, that great characters are formed. … Great necessities call out great virtues.  – Abigail Adams

Of all the advantages which come to any young man … poverty is the greatest.  – Josiah G. Holland

My luck was my father not striking oil… we’d have been rich. I’d never have set out for Hollywood with my camera, and I’d have had a lot less interesting life.  – King Vidor

 [A difficult childhood gave me] a kind of cocky confidence. … I could never have so little that I hadn’t had less. It took away my fear.  – Jacqueline Cochran

 Famous Quotes and Authors, Famous Quotations for all Occasions