Iraq Economic News Highlights and Points to Ponder Saturday AM 10-28-23


Iraq Economic News Highlights and Points to Ponder Saturday AM 10-28-23

Postponing Negotiations Between The Region And The Center Until After The Elections

Today   Information / Baghdad..    The head of the Parliamentary Regions Committee and member of the negotiating delegation, Shirwan Al-Dobardani, confirmed on Saturday that negotiations between the region and the center regarding salaries, the budget, and the oil and gas law are postponed until after the completion of the provincial council elections.

Al-Dobardani said in a statement to Al-Maalouma, “The delegations of the region and the center agreed to stop the meetings between the two parties until the completion of the provincial council elections,” pointing out that “they will resume once the results of the local elections are announced.”

He added, “The meetings of the two delegations regarding the oil and gas law have come a long way between the center and the region, especially as there is interaction and a desire to approve the law early next year.”

Al-Dobardani explained, “The postponement included the issue of deducting the region’s salaries and the budget law for next year, but the government will continue to complete the financial payments to the region to cover the salaries of the region’s employees, which includes three payments.”

It is noteworthy that the region’s delegation, which included the region’s Minister of Finance, the head of the Oversight Bureau, the head of the Prime Minister’s Office, and the region’s financial advisor on the part, and the Federal Minister of Finance and the Head of Federal Oversight, and under the auspices of the Parliamentary Finance Committee, held several fruitful meetings and hearings about the region’s share in the budget and employee salaries. LINK

The Rise In Dollar Exchange Rates In Iraqi Markets

Economy  2023-10-28 | 4,438 views  Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Saturday, October 28, 2023.

The selling prices of the dollar in local markets in the capital, Baghdad, recorded 162,000 per 100 dollars, while purchasing prices reached 161,500 per 100 dollars.

For more than 8 months, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system ““SWIFT,” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel (black) markets.

The Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying the dollar from the Ministry of Finance reached 1,300 dinars per dollar and selling it at (1,310) dinars per dollar to banks through the electronic platform, and it is sold for (1,320) dinars per dollar. Dollars from banks and non-banking financial institutions to the final beneficiary   مقالات ذات صلة   LINK

Iraq’s Oil Exports To America Rose Last Week

Energy   Economy News  The US Energy Information Administration announced on Saturday that Iraq’s oil exports to America rose over the past week.

An administration table, seen by Al-Iqtisad News, showed that the average US imports of crude oil during the past week from nine major countries amounted to 5.253 million barrels per day, an increase of 278 thousand barrels per day from the previous week, which amounted to 4.975 million barrels per day.

She added that Iraq’s oil exports to America amounted to 182,000 barrels per day last week, an increase of 55,000 barrels per day from the previous week, which reached an average of 127,000 barrels per day.

The table indicated that most of America’s oil revenues during the past week came from Canada at an average of 3,387 million barrels per day, followed by Mexico with an average of 61 million barrels per day, oil revenues from Saudi Arabia amounted to an average of 436 thousand barrels per day, and then Brazil with an average of 221 thousand barrels per day.

According to the administration’s schedule, the amount of American imports of crude oil from Colombia is at a rate of 146 thousand barrels per day, from Ecuador at a rate of 92 thousand barrels per day, from Nigeria at a rate of 89 thousand barrels per day, and from Libya at a rate of 86 thousand barrels per day, while no quantity is imported from Russia. .

Views 15   10/28/2023 –

The Rise In The Price Of The Dollar Against The Dinar In Baghdad Markets

Time: 10/28/2023 Read: 1,313 times   {Economic: Al-Furat News} Dollar prices rose today, Saturday, in Baghdad markets   The prices were as follows..

The selling price was 162,500 Iraqi dinars, while the purchase amounted to 160,500 dinars per 100 dollars.   LINK

Parliamentary Finance: Baghdad Will Send An Amount Of 700 Billion Dinars To The Region At The End Of This Month

Economy  12:01 – 2023-10-28   The Finance Committee of the Iraqi House of Representatives confirmed today, Saturday, that the central government will send, by the end of this month, the agreed-upon funds to the regional government, which in turn will allocate them to pay the salaries of its employees.

Committee member Jamal Kujar said in a press statement, “The central government will send an amount of (700) billion dinars to the Kurdistan Regional Government at the end of the current month of October, to cover and disburse employees’ salaries,” indicating that “the central government does not view these funds as being specific to the salaries of employees.” The region considers it part of the commitment to one of the institutions, and this is the reason behind the delay in sending it.”

Lavrov: Destroying The Gaza Strip Will Create A Disaster For Decades

Time: 10/28/2023 Read: 169 times  {International: Al-Furat News} Russian Foreign Minister Sergei Lavrov called, today, Saturday, for the necessity of launching humanitarian programs in the Gaza Strip, to save the population under siege without water, food, and electricity.

The Russian Foreign Minister said, in an interview on Saturday, that destroying the Gaza Strip would create a disaster for decades.

The Russian minister pointed out that “entering into direct negotiations on the establishment of the states of Palestine and Israel is now out of reach.”

He stressed that Russia fully maintains its contacts with Israel and sends signals about the necessity of reaching a peaceful solution.

Commenting on the plans announced by Israel to “destroy Hamas,” Lavrov said that these plans to destroy “Hamas” cannot be implemented without destroying Gaza and the majority of the civilian population.

He added: “We are sending signals to the Israeli side about the need to search for a peaceful solution, and not to complete the scorched earth strategy,” according to what was reported by the “Russia Today” website.

Lavrov also pointed out that United Nations employees in the Palestinian-Israeli conflict zone enjoy special immunity, and the organization must take care of this.   LINK

 A Video Of What Remains Of Gaza… Smoke And Ruins After The Bloody Night In The Stricken City

Arab and international |Today A video of what remains of Gaza… smoke and ruins after the bloody night in the stricken city

Baghdad today – Baghdad    Scenes of fear and panic experienced by the children of Gaza after a bloody night, and continuous Israeli bombing that did not distinguish between young or old, woman or child, so scenes of horrific destruction covered the territory of the Gaza Strip.

Video clips obtained by “Baghdad Today” showed the extent of the destruction that befell the Strip after a bloody night, continuous Zionist bombing, and a failed invasion attempt by the Zionist army to penetrate into Gaza territory.

The former head of the nurses’ union in Gaza announced that “more than 25 martyrs and 35 wounded arrived this morning at Al-Aqsa Martyrs Hospital as a result of the bombing.”

While the Palestinian Ministry of Health has not yet announced a toll related to the victims of the Zionist bombing on the Gaza Strip on Saturday night.

For its part, Hamas confirmed that its fighters confronted an Israeli ground incursion into the areas of Beit Hanoun and eastern Bureij in the central Gaza Strip, while the Israeli army announced the participation of 100 warplanes in bombing targets in the Gaza Strip during the night.   LINK

The White House: America Does Not Set Red Lines For Israel In The Attack On Gaza

FRIDAY, 10-27-2023, KARAR AL-ASSADI   White House Strategic Communications Coordinator John Kirby said on Friday that the United States does not set red lines for Israel during the attack on the Gaza Strip.

Kirby added that the United States will not evaluate the current actions of the Israeli army regarding the Gaza Strip.

He said: “I have seen reports about an Israeli army operation, and I will not talk about what they are doing and how.”

These statements coincide with the Israeli enemy army carrying out a massive and violent attack on all areas of the Gaza Strip, causing the communications network in the Strip to be cut off.

The Israeli enemy army also announced this evening the expansion of its ground operations in the Gaza Strip in conjunction with the unprecedented aerial bombardment.

Provoking Points to Ponder on Wealth:

Misery assails riches, as lightning does the highest towers; or as a tree that is heavy laden with fruit breaks its own bough, so do riches destroy the virtue of their possessor. — Burton

To have what we want is riches, but to be able to do without is power. — G. Macdonald

There are two things needed in these days; first, for rich men to find out how poor men live; and second, for poor men to know how rich men work. — E. Atkinson

He is richest who is content with the least, for content is the wealth of nature. — Socrates

If a rich man is proud of his wealth, he should not be praised until it is known how he employs it. — Socrates

No man can tell whether he is rich or poor by turning to his ledger.  It is the heart that makes a man rich. He is rich according to what he is, not according to what he has. — H W Beecher

The use we make of our fortune determines as to its sufficiency.  A little is enough if used wisely, and too much if expended foolishly. — Boovee