TNT – “Tidbits From TNT” Thursday 5-16-2024

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Tishwash:  A license for brokerage companies to trade in shares on international stock exchanges

The Securities Commission is studying the possibility of licensing brokerage companies to trade in shares on international stock exchanges.

The head of the authority, Faisal Al-Haims, said in a statement: “The authority has begun studying the licensing of brokerage companies to trade in shares on global stock exchanges through a technical committee within it.”

He added, “The Authority is working seriously to support and develop the stock market by studying the licensing of brokerage companies to enable them to trade in shares on international stock exchanges for the first time in Iraq.”

He explained, “This step comes in the context of protecting the rights of citizens to trade through brokerage companies that practice this activity without an official license from the Securities Commission, which seeks to develop the financial markets in the country,” noting that “the Commission is working to provide a stimulating and regulated investment environment.” “It contributes to enhancing confidence among investors and raising Iraq’s position in global financial markets.”  link

CandyKisses:  Iraq confirms its keenness to achieve energy self-sufficiency

Economy News – Baghdad

Today, Wednesday, Prime Minister Muhammad Shiaa Al-Sudani affirmed the government’s keenness to implement its executive approach within the axis of achieving energy self-sufficiency, while indicating that the memorandums of understanding that were signed during his visit to the United States of America last April are being implemented on the ground.

The Prime Minister’s Media Office stated in a statement received by Al-Iqtisad News, “Al-Sudani received the US Assistant Secretary of State for Energy Resources Affairs, Jeffrey Payette, in the presence of the US Ambassador to Iraq,” noting that “the most prominent files of cooperation in the field of energy, in all its forms, were reviewed.” And ways to develop it, in a way that contributes to achieving common interests.”

During the meeting, the Prime Minister stressed, “The government’s keenness to implement its executive approach within the axis of achieving energy self-sufficiency, in the areas of exploiting locally produced natural and associated gas, generating electricity, providing petroleum derivatives, and producing chemical fertilizers and petrochemical materials,” explaining that the memorandums of understanding that were signed during His visit to the United States of America last April is being implemented on the ground.”

Al-Sudani pointed to “the government’s efforts and steps in the field of economic and financial reform, especially in the areas of tax, customs, and the banking sector, and completing the elements of the ideal investment environment,” calling on “American companies to work and invest in Iraq.”

For his part, Payet praised “the efforts of the Iraqi government to develop the energy sector,” pointing to “the joint statement of the Prime Minister and US President Joseph Biden, which represents a road map and framework for fruitful work and cooperation.”

He stressed “the desire of American companies to invest and expand their activities inside Iraq.”

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CandyKisses:  US negotiations to supply Iraq’s electricity with 3,000 megawatts

Shafaq News / Iraqi Minister of Electricity Ziad Ali Fadel discussed with the US Assistant Secretary of State for Energy Affairs Jeffrey Payat on Wednesday that the electrical system was supplyed by about 3,000 thousand new megawatts through the implementation of new energy projects.

This came during the reception of the Iraqi Minister of Electricity, of the US Assistant Secretary of State for Energy Affairs, in the presence of the US Ambassador in Baghdad, Alena Romanoski, according to a statement received by Shafaq News.

During the meeting, the two sides discussed cooperation between the two countries in the field of energy, where Fadel reviewed the projects it is implementing by the ministry in the production, distribution and transport sectors, and its plans to diversify energy supply sources through a package of projects for electrical connection and other projects in the field of clean energy.

The meeting touched on the role of American and foreign companies in contributing to the modernization of the infrastructure of the electricity sector in Iraq. The Minister of Electricity referred to the contracts concluded with (GE) to qualify and maintain production plants for 5 years, as well as the conversion of gas stations from simple cycles to the complex cycles currently implemented by the American company in more than one location in Iraq.

The two sides discussed, according to the statement, accelerating the implementation of the terms of the memorandum of cooperation concluded during the recent visit of Prime Minister Mohammed Shiaa Al-Sudani to Washington, including the supply of the electrical system by about 3,000 thousand new megawatts through the implementation of new energy projects.

The Iraqi Minister of Electricity called on American companies to submit their offers for the smart transformation project in the electrical system, which the ministry is implementing in selected areas of Baghdad and the provinces as a first stage, expecting that this project will contribute to improving the performance of the electrical network and securing processing hours for citizens 24 hours a day.

For his part, the US official stressed Washington’s interest in supporting the Iraqi government’s steps in enhancing the performance of its electrical system, and moving towards investment in clean energy projects suitable for the environment