Iraq Economic News and Points to Ponder Sunday Afternoon 12-3-23


Iraq Economic News and Points to Ponder Sunday Afternoon 12-3-23

Tlm724 Administrator Bondlady’s Corner

Association Of Banks: Agreements With Türkiye Will Lead To Lowering The Dollar Exchange Rate

Economy News – Baghdad  The Iraqi Private Banks Association confirmed that the agreements with Turkey will lead to reducing the dollar exchange rate and increasing citizen confidence in the dinar.

The head of the Iraqi Private Banks Association, Wadih Al-Handal, said on his Facebook page, followed by Al-Iqtisad News, “We discussed with the Turkish Central Bank and all of Turkey’s banks the reorganization of trade financing between Iraq and Turkey, using the Iraqi dinar, the Turkish lira, and the euro.”  Al-Handal stressed, “The agreements with Turkey will lead to reducing the dollar exchange rate and increasing citizen confidence in the dinar.”  12/03/2023 –

Find Out The Exchange Rate Of The Dollar Today In Baghdad

Economy   Sunday, December 3, 2023  Baghdad/National News Center  Today, Sunday, the dollar exchange rates witnessed stability in the markets of the capital, Baghdad, with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 156,250 dinars for 100 dollars, which are the same prices that were recorded yesterday, Saturday.

Selling prices in money exchange shops in local markets in Baghdad reached 157,250 dinars per 100 dollars, while purchasing prices reached 155,250 dinars per 100 dollars.

Gas Reserves.. Iraq Is Fifth In The Arab World And Tenth In The World

Sunday 03, December 2023 | Economical Number of readings: 336  Baghdad / NINA / The Ministry of Oil revealed, on Sunday, that Iraq’s gas reserves are estimated at 132 trillion standard cubic feet, ranking fifth in the Arab world and tenth in the world in terms of gas reserves.

The director of the Petroleum Research and Development Center said: “Iraq’s gas reserves are estimated at 132 trillion standard cubic feet, ranking fifth in the Arab world and tenth in the world in terms of gas reserves,” stressing that “the importance of natural gas in any country comes from it being an important source of thermal, mechanical and electrical energy.”

 In various sectors, it is considered the cleanest and least polluting fuel for the environment and is a raw material for petrochemical industries, in addition to helping to grow a quarter of the energy consumed in the world.”

He continued, “Gas investment guarantees a significant improvement in the outputs of electric energy production and a reduction in emissions that are harmful to the environment,” noting that “Iraq has committed to financing large project plans with its partners in (the Basra Gas Company) or its completed or under construction projects with the rest of the companies operating its fields.” Petroleum production within licensing rounds.

He pointed out, “The possibility of Iraq being one of the suppliers of gas in the world if its reserves are properly invested in accordance with well-studied strategic plans and timetables for this important file and the implementation of the plans,” explaining that “natural gas did not receive sufficient investment attention during the previous period.”

He explained that “Iraq ranks fourth in the world in burning gas, with its quantities estimated at 14 billion cubic meters annually as a result of the delay in its investment plans and the lack of sufficient funds for that.”/End

More Than 5 Million Barrels Of Iraqi Oil Exports To America Within A Month

Energy  Economy News – Baghdad  The US Energy Information Administration announced on Sunday that Iraq’s oil exports to America amounted to more than 5 million barrels during the month of November.

The administration said in its table, “Iraq exported 5.130 million barrels of crude oil to America during the month of last November, with an average of 171 thousand barrels per day, lower than the month of October, in which Iraqi oil exports to America amounted to 7.322 million.” barrels, with an average of 236 thousand barrels per day.

She added, “Iraq exported crude oil to America during the first week of November at an average of 187 thousand barrels per day, while it exported an average of 283 thousand barrels per day in the second week, and exported an average of 36 thousand barrels per day in the third week,” noting that “the fourth week’s exports It reached an average of 178 thousand barrels per day.

The US Energy Information Administration stated that “Iraq ranked sixth in its exports to America during the past month after: Canada, Mexico, Saudi Arabia, Colombia, and Brazil, and ranked second in the Arab world after Saudi Arabia, whose exports to America reached 6 million barrels,” indicating that “Canada It ranked first as the country that exports the most oil to America, followed by Mexico.

Views 40 12/03/2023 –

The Iraqi Stock Exchange Closes Up By 1.27% 

Market   Economy News – Baghdad   The Iraqi Stock Exchange closed, on the first day of trading this week, up by 1.27%.

The session traded shares of 22 companies, with the number of shares traded reaching more than 1.1 billion shares, with a value of more than 1.1 billion dinars.

Metal and bicycle stocks rose by 15%, followed by the National Bank by 10.4%, and the Middle East Bank by 9.09%.

Al-Mansour Hotel shares fell by 2.43%, followed by Baghdad Iraq Public Transport by 1.75%.

Views 35 12/03/2023 –

The Central Bank To Al-Iqtisad News: We Have Organized Foreign Trade And Most Goods Are Imported At The Official Price

The Central Bank of Iraq confirmed that some Iraqi banks are currently transferring dollars from their accounts in intermediary banks to their coffers and distributing them to their customers.

Assistant Director of the Investment Department at the Central Bank, Muhammad Yunus, told Al-Iqtisad News that some Iraqi banks are transferring the dollar from their accounts in intermediary banks to the bank’s treasury for the purpose of disbursing it to their customers.

He added that the step of transferring bank balances in the dollar currency will contribute to reducing the exchange rate of the parallel dollar

He stressed that the Central Bank does not allow banks to return remittances in the dollar currency

He pointed out that the Central Bank of Iraq regulated foreign trade, and most goods are imported at a price of 1,320 dinars, so their prices did not rise.

130 views 12/01/2023 –

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Provoking Points To Ponder on Character:

Men best show their character in trifles, where they are not on their guard – it is in insignificant matters, and in the simplest habits, that we often see the boundless egotism which pays no regard to the feelings of others, and denies nothing to itself — Arthur Schopenhauer

We want the spirit of America to be efficient: we want American character to be efficient; we want American character to display itself in what I may, perhaps, be allowed to call spiritual efficiency — clear disinterested thinking and fearless action along the right lines of thought — Woodrow Wilson

When the late J P Morgan was asked what he considered the best bank collateral, he replied, “Character

A man may be outwardly successful all his life long, and die hollow and worthless as a puff-ball; and he may be externally defeated all his life long, and die in the royalty of a kingdom established within him — A man’s true estate of power and riches, is to be in himself; not in his dwelling, or position, or external relations, but in his own essential character — that is the realm in which he is to live, if he is to live as a Christian man — H W Beecher

A good character is, in all cases, the fruit of personal exertion — it is not inherited from parents; it is not created by external advantages; it is no necessary appendage of birth, wealth, talents, or station; but it is the result of one’s own endeavors — the fruit and reward of good principles manifested in a course of virtuous and honorable action — J Hawes

A man’s character is the reality of himself — His reputation is the opinion others have formed of him — character is in him; reputation is from other people — that is the substance, this is the shadow –– H W Beecher

There is a broad distinction between character and reputation, for one may be destroyed by slander, while the other can never be harmed save by it possessor — Reputation is in no man’s keeping — You and I cannot determine what other men shall think and say about  us — We can only determine what they ought to think of  us and say about us — J G Holland

Character building begins in our infancy and continues until  death —Mrs Franklin D Roosevelt