Bondlady’s Corner – Iraq Economic News and Points to Ponder Wednesday Afternoon 2-14-24


Iraq Economic News and Points to Ponder Wednesday Afternoon 2-14-24

Tlm724 Administrator Bondlady’s Corner

Private Banks Call On Parliament To Intervene To Address US Sanctions

Economy | 02/14/2024  Mawazine News – Baghdad   , today, Wednesday, the Association of Private Banks called on the House of Representatives to intervene to “address” the issue of the American sanctions imposed on it.

A statement by the House of Representatives’ Economy, Industry and Trade Committee, received by Mawazine News, stated that it was “hosting the Association of Iraqi Banks and directors of private banks, to discuss the sanctions imposed by the US Federal Bank on some of them.”

She added, “I listened to a detailed explanation provided by the Association and the directors of private banks about the most important problems and obstacles that private banks suffer from, including “freezing their balances abroad and stopping foreign transactions and transfers with correspondent banks.”

The Association of Private Banks stated, according to the statement, that the ban imposed on these banks “He came in a letter from the Central Bank of Iraq without explaining the reasons,” calling on the House of Representatives and the Parliamentary Economics Committee to “intervene to address this issue in cooperation with the Central Bank and the Council of Ministers.”

Globally: A Decline In Oil Prices Due To The Increase In US Inventory

Economy | 09:23 – 02/14/2024  Mawazine News – Baghdad   Oil prices suffered losses in early Asian trading on Wednesday, after the American Petroleum Institute announced that crude inventories increased more than expected last week and with investors’ expectations declining for the Federal Reserve (the US central bank) to reduce interest rates.

Price action

Brent crude futures fell 29 cents, or 0.4 percent, to $82.48 when the market opened at 0000 GMT.

US West Texas Intermediate crude futures fell 22 cents, or 0.3 percent, to $77.65 per barrel.

American Petroleum Institute figures released late Tuesday reported that crude oil inventories in the United States increased by 8.52 million barrels in the week ending February 9.

The increase was much larger than the 2.6 million barrels expected by analysts polled by Reuters

Timor: The Oil Law Would Regulate Oil Extraction And Marketing, And We Are Seeking To Approve It

Iraq   Wednesday, February 14, 2024 Exclusive / National News Center  Member of the House of Representatives, Jay Timur, confirmed today, Wednesday, that the Oil and Gas Law would regulate the extraction and marketing of oil.

In an interview with the National News Center, Timur said, “The oil and gas law was one of the agendas of the state administration coalition, which was imposed by the Kurdistan Democratic Party coalition on the new government to include this law, work to end it, and decide on it within 6 months, and this did not happen.”

He added, “It is not possible for a country like Iraq, where 95% of its imports depend on oil and gas, to not have a law regulating the extraction and marketing of oil.”

Stability Of Dollar Prices In Baghdad Markets

Economy  Wednesday, February 14, 2024 Baghdad/National News Center  The prices of the US dollar against the Iraqi dinar stabilized in Baghdad markets today, Wednesday, as the central Kifah and Harithiya stock exchanges recorded an exchange rate of 152,300 Iraqi dinars against 100 US dollars.

The selling price in banking shops and local markets reached 153,250 dinars, while the purchasing price reached 152,250 dinars per 100 dollars.

An Egyptian Delegation Expresses Its Desire To Invest In Iraq.. What Did It Say To The Sudanese?

money and business   Economy News – Baghdad  Today, Wednesday, during its meeting with the Prime Minister, Muhammad Shiaa Al-Sudani, a delegation of Egyptian investors expressed its desire to work in Iraq through the available investment opportunities in the fields of infrastructure and the pharmaceutical industry.

Al-Sudani’s media office stated, in a statement received by Al-Eqtisad News, that the latter “received a delegation of Egyptian businessmen and investors, who specialize in infrastructure projects, the housing sector and the pharmaceutical industry. Al-Sudani welcomed the delegation,” stressing “Iraq’s keenness to sustain bilateral cooperation relations with… Egypt and its private sector.

Al-Sudani pointed to “expanding the horizons of cooperation in various fields, which came as a result of the continuation of mutual visits and the activation of joint committees. It also embodies Iraq’s economic openness towards the Arab and global environment, and the opening of windows of cooperation with major Arab and foreign companies.”

For their part, the members of the Egyptian delegation expressed their “desire to work in Iraq through the available investment opportunities, in the fields of infrastructure and the pharmaceutical industry, cooperation with the Iraqi private sector, and building economic partnerships that are in the interest of the two brotherly countries.”Views 72 02/14/2024

In Today’s Auction, The Central Bank Transferred About $205 Million Abroad

The Central Bank of Iraq announced, on Wednesday, its sales of hard currency, amounting to more than 215 million dollars in today’s transactions, according to the official rate of 1310.

The bank’s data showed that the total cash withdrawals amounted to $10,210,000, while the total amounts of transfers abroad, which include remittances and credits, amounted to $205,284,808, while the total sale amounted to $215,494,808.

Views 66 02/14/2024 –

To read more current and reliable Iraqi news please visit BondLady’s Corner: 

Points To Ponder on Anxiety about the Future

To be ambitious for wealth, and yet always expecting to be poor, to be always doubting your ability to get what you long for, is like trying to reach east by traveling west. … No matter how hard you work for success, if your thought is saturated with the fear of failure, it will kill your efforts, neutralize your endeavors and make success impossible.  – Charles Baudouin

Studies by Medical Corps psychiatrists of combat fatigue cases … found that fear of killing, rather than fear of being killed, was the most common cause of battle failure, and that fear of failure ran a strong second.    – S. L. A. Marshall

Think like a queen. A queen is not afraid to fail. Failure is another step-pingstone to greatness.  – Oprah Winfrey

Half the things that people do not succeed in are through fear of making the attempt.  – James Northcote

A champion is afraid of losing. Everyone else is afraid of winning.  – Billie Jean King