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

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Iraq Economic News and Points to Ponder Wednesday Afternoon 1-24-24

Tlm724 Administrator Bondlady’s Corner

Stability Of The Dollar Exchange Rate In Iraqi Markets

Economy   Wednesday, January 24, 2024 10:32 AM   Baghdad/National News Center  Today, Wednesday, the dollar exchange rates witnessed stability in the local markets, recording the following numbers:   Local markets:   – Selling price: 152,000 dinars per 100 dollars
– Purchase price: 150,000 dinars per 100 dollars   https://nnciraq.com/247357/

The Central Bank Sells More Than $220 Million At Auction Today

Economy  Wednesday, January 24, 2024 3:23 PM Baghdad/National News Center  External remittances at the Central Bank of Iraq auction rose by 92% today, Wednesday, to reach $203 million, at the expense of cash sales, which fell to $17 million.

Today, during its auction for buying and selling the US dollar, the Central Bank sold 220 million and 271 thousand and 554 dollars, covering it at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.

The Central Bank explained that most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, as the number of banks that purchased cash dollars reached 8 banks, while the number of banks that responded to requests to enhance balances abroad reached 22 banks.

By 92%… An Increase In Foreign Remittances At The Central Bank Of Iraq Auction

Wednesday 24, January 2024 14:17 | Economical Number of readings: 261  Baghdad / NINA / External remittances at the Central Bank of Iraq auction increased by 92%, today, Wednesday, at the expense of cash sales, to reach 203 million dollars.

The bank stated in a statement that it sold today, during its auction for buying and selling the US dollar, 220 million and 271 thousand and 554 dollars, which it covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for foreign transfers, and at a price of 1,310 dinars per dollar. Dollars in cash.”

He added: “Most of the bank’s dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 203 million and 101 thousand and 544 dollars, a 92% increase over cash sales of 17 million and 170 thousand dollars.”

He pointed out that “ The number of banks that purchased cash dollars reached 8 banks, while the number of banks that responded to requests to enhance balances abroad reached 22 banks, and the total number of exchange and brokerage companies participating in the auction was 112 companies.   https://ninanews.com/Website/News/Details?key=1102874

Honoring The President Of The Iraqi Private Banks Association With The Highest Award By The Iraqi Society For Statistical Sciences

President of the Iraqi Society for Statistical Sciences, Dr. Mahdi Al-Alaq while presenting the head of the Association of Private Banks in Iraq, Wadih Al-Handal, with the creativity necklace 

Economy News – Baghdad   The Iraqi Society for Statistical Sciences, on Wednesday, honored the President of the Association of Private Banks in Iraq, Wadih Al-Handal, with the Creativity Necklace, in appreciation of his efforts in supporting the Association and developing the Iraqi banking sector.

The honor came during a ceremony held by the association at its headquarters in Baghdad, in the presence of its board of directors and a number of personalities.

In his speech during the honoring ceremony, the President of the Iraqi Society for Statistical Sciences, Dr. Mahdi Al-Alaq, praised Al-Handal’s efforts in supporting the Society and the success of its scientific and practical activities over the past years.

Al-Alaq said that Al-Handal and the Association of Private Banks played a prominent role in developing the work of the Association, after their great support for us, noting that many of the activities held by the Association come with the support of the Association of Private Banks.

He stated that the vision of Al-Handal and the Association of Private Banks was insightful in working to develop the private sector and develop human resources through training.

For his part, Wadih Al-Handal expressed his thanks to the Iraqi Association for Statistical Sciences for this honor, stressing that the Association of Banks will continue to work to support and develop the banking sector.

Al-Handal pointed out that the Association of Banks, through the Empowerment Fund funded by private banks, has undertaken many large community initiatives over the past years, in addition to working to enhance the concept of financial inclusion and financial management among the people.

Al-Handal thanked the association’s workers for their great role in achieving current and previous achievements.

The Creativity Necklace is one of the highest honors awarded by the Iraqi Society for Statistical Sciences, and is awarded to prominent figures who have contributed to the development of statistical sciences and their applications in Iraq.  01/24/2024 – https://economy-news.net/content.php?id=39784

Oil Prices Stabilize As Increased Supplies Offset The Impact Of Tensions In The Middle East

Wednesday 24, January 2024 10:01 | Economical Number of readings: 297  Baghdad / NINA / Oil prices stabilized as traders weighed signs of declining US inventories and tensions in the Middle East on the one hand, and expectations of increased supplies on the other.

Brent crude, the global benchmark, traded below $80 per barrel after its decline yesterday, Tuesday, while West Texas Intermediate crude traded above $74.

The American Petroleum Institute reported that nationwide inventories fell by about 7 million barrels last week, including a decline in Cushing, Oklahoma. Official numbers are scheduled to be released later on Wednesday.

In the Middle East, traders were assessing the impact of recent US and British strikes against the Iran-backed Houthis in Yemen aimed at halting attacks on ships.

While a trade group said the United States advised ships crossing the Red Sea to exercise “extreme caution,” some owners decided not to resume passage. Elsewhere, US forces carried out air strikes on sites in Iraq.

“We believe oil markets are well supplied, and that is likely to continue this year,” said Vivek Dhar, mining and energy commodities analyst at Australian Commonwealth Bank. He added that while the situation in the Red Sea has increased trade costs, it is unlikely to materially increase oil prices, given that supplies have not been directly affected.

The US crude inventory report comes after a decline in inventories in three of the past four weeks, and amid turmoil caused by a wave of cold weather. Freezing conditions reduced supplies from shale drillers in the Bakken Basin and hampered refining operations.

The price differences between the two closest oil contracts indicate an upward trend in the near term. The gap reached 44 cents per barrel, in the case of “backorder”, compared to 3 cents at the beginning of the year./End 9   https://ninanews.com/Website/News/Details?key=1102814

United Nations Development Programme: This Is The Reality Of The Projects Of The Stabilization Program In The Liberated Areas

Wednesday 24, January 2024 18:02 | Political Number of readings: 123   Baghdad / NINA / The United Nations Development Program in Iraq responded to the article recently published in the British newspaper The Guardian regarding the stabilization program for liberated areas of the United Nations Development Program in Iraq.

The official spokesman for the United Nations Development Program said in a press statement today, Wednesday, “We take all allegations seriously and investigate them expeditiously. We will take firm and appropriate measures if any of these allegations are proven true.”

He added, “The United Nations Development Program has zero tolerance for fraud and corruption, and this applies to all UNDP employees, non-UNDP employees, suppliers, implementing partners, and responsible parties, but zero tolerance does not mean there are no risks,” noting: “The program “UNDP has been transparent with donors, partners and the general public about the risks and operational challenges that have followed years of conflict in Iraq.”

He explained, “Any allegation of bribery, corruption or fraud is comprehensively evaluated and, where appropriate, investigated by the Independent Audit and Investigations Office of the United Nations Development Programme.”

He stated that: “With regard to the stabilization program for liberated areas, based on the complexity of the program and its broad scope of work, and also in accordance with best practices, the United Nations Development Program has implemented a series of additional monitoring and control measures in addition to standard protocols, which include, among other things, “establishing an operations service center.” A specialist for the stabilization program for liberated areas in 2015 to manage procurement issues and complex operational operations, including providing due diligence and oversight

. Conducting direct verification operations for projects on the ground, and providing support to third-party monitoring teams, in addition to other tasks, and the presence of an investigator from the Independent Audit and Investigations Office dedicated to monitoring this project, who is responsible for conducting investigations related to all allegations related to the stabilization program for liberated areas in a way. Comprehensive.”

He continued to say, “Project audits were conducted every year for the period 2019-2022, and these audits included projects at a cost amounting to more than one billion US dollars from the financial allocations allocated to the projects of the Stabilization Program for the liberated areas, and the Independent Audit and Investigations Office also carried out “We will comprehensively audit country office operations in 2023.”

He stressed, “All audits of the Independent Audit and Investigation Office are available to all citizens on its website, and in this regard, the Independent Audit and Investigation Office has dealt, over the past eight years, with more than 130 cases related to the work of the Stabilization Program for the liberated areas, and these cases or cases were submitted.” “By our employees and third parties, from external oversight bodies to the Independent Audit and Investigations Office, the UNDP administration took swift action in response.”

He went on to say: “In our work in Iraq within the stabilization program for liberated areas, we have a strict set of procedures to manage the risks that accompany working in such a difficult environment. We continue to strengthen these procedures in close cooperation with independent evaluation and investigation offices.”

Regarding the stabilization program for the liberated areas, he explained that: “In 2015, at the request of the Government of Iraq and with the assistance of the international donor community, the United Nations Development Program in Iraq established the Stabilization Program for the Liberated Areas to implement a program characterized by steady and accelerated steps to carry out reconstruction activities that provided benefit.” To millions of Iraqi citizens so far.”

He added, “The program has enabled the return of nearly five million displaced Iraqis out of six million, who would have remained stuck in displacement camps for many years had it not been for these purposeful projects. Through the completion of more than 3,600 projects, the Iraqi communities in which they live have become About 8.3 million people are now able to obtain basic services that have been rebuilt or rehabilitated, including schools, hospitals, water and electricity networks, housing, and roads.”/End 5   https://ninanews.com/Website/News/Details?key=1102926

To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/

Top 100 Inspirational Quotes  Compiled By Kevin Kruse 

 Inspirational quotes and motivational quotes have the power to get us through a bad week, and can even  give us the courage to pursue our life’s dreams.  In my book, 4 Keys to Happiness and Fulfillment at Work, By Kevin Kruse, I share surprising research into the true triggers of workplace motivation.

 So in the spirit of self motivation, here are 100 inspirational quotes.

6. I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed. – Michael Jordan

7. The most difficult thing is the decision to act, the rest is merely tenacity. – Amelia Earhart

8. Every strike brings me closer to the next home run. – Babe Ruth

9. Definiteness of purpose is the starting point of all achievement. – W. Clement Stone

10. The past is a ghost, the future a dream. All we ever have is now. – Bill Cosby

11. Life is what happens to you while you’re busy making other plans. – John Lennon

http://www.forbes.com/sites/kevinkruse/2013/05/28/inspirational-quotes/