Central Bank Of Iraq: 94% Of Dollar Sales In Today’s Auction For Foreign Transfers
03/02/2025 Mawazine News – Economy The Central Bank of Iraq announced that US dollar remittances sold in Monday’s currency auction amounted to more than 94% of total sales, with total sales reaching $297 million, 459 thousand, and 852.
These sales were covered at a basic exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, while the dollar was sold at 1,310 dinars per dollar for external transfers, and at 1,305 dinars for cash dollars.
According to statistics, $281 million, 409 thousand, and 852 were allocated to enhance balances abroad in the form of transfers and credits, representing 94.31% of total sales, while cash withdrawals amounted to only $16 million and 50 thousand.
While 19 exchange companies participated in the auction, 6 banks met requests to enhance balances abroad, while only one bank was satisfied with buying dollars in cash. https://www.mawazin.net/Details.aspx?jimare=259313
Baghdad Stock Exchange Opens Higher… 151,500 Dinars For Every 100 Dollars
economy | 11:59 – 03/02/2025 Mawazine News – Baghdad The exchange rate of the dollar against the Iraqi dinar witnessed a rise in the currency markets in the capital, Baghdad.
The exchange rate in the Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 150,350 dinars for every 100 dollars, compared to what was recorded yesterday, Sunday, 150,300 dinars.
The selling price in exchange shops in the local markets in Baghdad reached 151,500 dinars for every 100 dollars, while the purchase price reached 149,500 dinars. https://www.mawazin.net/Details.aspx?jimare=259299
Iraqi Oil Prices Stabilize At $78 In Global Markets
economy | 09:22 – 03/02/2025 Mawazine News – Baghdad Iraqi oil prices stabilized in weekly trading on the global market, at what they ended last week at $78 per barrel.
Basra Heavy crude recorded $74.98 per barrel, while the average recorded $78.23 per barrel, with a change rate of +0.44, respectively, for April 2025 delivery.
The data also showed a significant increase in global crude prices, as British Brent crude recorded $76.38, while US West Texas Intermediate crude recorded $73.92 per barrel, with a change rate of +0.72 and +1.40, respectively. https://www.mawazin.net/Details.aspx?jimare=259288
Parliamentary Economy: The Ports Authority Is Performing Its Role Properly
Money and business Economy News – Baghdad The Parliamentary Economic and Investment Committee confirmed, on Monday, that the Border Ports Authority is performing its role properly, praising the efforts of the Al-Mundhiriyah Border Port Administration.
Committee member Kazem Al-Shammari said in a statement, followed by “Al-Eqtisad News”, that “the Border Ports Authority is working with great efforts that deserve praise and appreciation,” stressing that “the authority is following up on its work in the right way at all ports.”
He added that “the committee visited the Al-Mundhiriyah border port to follow up on the progress of work, as this is the second visit to evaluate the work of the Border Ports Authority,” indicating that “these visits are an integration between the authorities to serve the people of the country.” https://economy-news.net/content.php?id=52481
The Ministerial Council For Economy Recommends Stopping The Listing Of New Investment Projects
Monday 03 February 2025 | Economic Number of readings: 250 Baghdad / NINA / The Ministerial Council for the Economy submitted a recommendation to the Council of Ministers on Monday to stop listing new investment projects.
A statement issued by the Council stated that “Foreign Minister Fuad Hussein chaired the second session of the Ministerial Council for the Economy, which was held in the Council building in the presence of the Ministers of Planning, Finance, Industry, Labor and Social Affairs, the Governor of the Central Bank of Iraq, the Chairman of the Securities Commission, the Deputy Chairman of the National Investment Commission, and the Prime Minister’s Advisors for Economic and Legal Affairs.”
The Council hosted “the Minister of Industry and Trade, the Director General of Industrial Development, and the Director General of the Trademark Registration Department in the Kurdistan Regional Government and in the federal government as well, in order to discuss mechanisms for unifying the registration of trademarks and factories throughout Iraq.”
According to the statement, the Council listened to “the obstacles facing the issue of unifying registration presented by those concerned from both parties by holding joint meetings for the purpose of determining the mechanisms that will be worked on in order to unify the procedures for issuing trademarks and factory licenses in a way that serves this important economic segment, provided that the committee completes its work within 15 days and submits its report to the Council for approval.”
The Council discussed “the draft recommendations submitted by some members of the Council to assess the financial and economic situation in light of the economic and political challenges witnessed locally, regionally and internationally.”
The Council sent “its recommendation to the Council of Ministers regarding new investment projects to stop listing these projects except for the necessary ones and with the approval of the Council of Ministers and the endorsement of the Ministry of Planning and Finance to provide financial allocation before entering into any financial obligations.” https://ninanews.com/Website/News/Details?key=1183589
Foreign Companies Operating In The Fields Include Three Sectors
03/02/2025 Mawazine News – Baghdad The Ministry of Oil clarified, on Monday, the details of the social benefit projects provided in areas near oil fields, while indicating that the projects are concerned with three sectors.
The ministry said: “Social benefits are service projects provided to areas near fields in which foreign companies operate within licensing rounds and others, and the benefit of them lies in developing the service infrastructure of those areas.
” It added that “the projects are determined in coordination with the local governments of the governorates and the relevant sectoral bodies, and are studied by joint committees that include the foreign company and the ministry.”
It confirmed “the provision of many service projects in the fields of education, health and public services, such as paving and tiling streets, establishing and rehabilitating schools, clinics and hospitals, and equipping them with furniture, medical devices and others.” https://www.mawazin.net/Details.aspx?jimare=259294
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