Tishwash: Sudanese meets Sisi
Prime Minister Mohammed Shia Al-Sudani arrived at the Alamein Presidential Palace in Egypt.
He was received by the President of the Arab Republic of Egypt, Abdel Fattah El-Sisi, and they will discuss “the overall bilateral relations between the two countries, and the latest international developments in the region. He will also hold extensive discussions with his Egyptian counterpart on enhancing joint cooperation in various fields and sectors.”
Al-Sudani arrived in Egypt this morning, accompanied by a ministerial delegation. link
Al-Sudani begins official visit to Egypt and Tunisia
Prime Minister Mohammed Shia Al-Sudani began an official visit to the Arab Republic of Egypt and the Republic of Tunisia on Tuesday morning.
This came in a brief statement issued by Al-Sudani’s media office without going into further details. link
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Tishwash: Revealing the main currency used in Iran’s trade with Iraq
Shaaban Forotan, a member of the board of directors of the Iranian-Iraqi Joint Chamber of Commerce, revealed today, Tuesday, that the largest part of trade between Iraq and Iran, in terms of traders and exporters, is carried out through the Iranian riyal.
“Most Iranian exporters now work in riyals in trade with Iraq, and financial transactions between the two countries will continue without using the Iranian riyal, i.e. also in dollars. This does not mean the complete elimination of the dollar, but a large portion of traders conduct their transactions without the dollar,” Forotan said in statements to Iranian media.
He explained that “the commitment to trade in dollars does not include all product groups, but the exchange of riyals into dollars cannot be implemented due to the sanctions imposed on banks, and riyal traders earn from selling goods in the Iraqi market through their contacts with the stock exchanges of Iraq and Iran or a third country such as the United Arab Emirates, and they do not have the possibility of direct settlement.”
He pointed out that “the supply of Iranian goods faced a problem in the Iraqi market, which is the multiple increase in the prices of goods in Iran during the year, while it is expected that prices will increase only once a year link
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Tishwash: Economist: Iraq Stock Exchange suffers from lack of liquidity
Economic expert, Saif Al-Halfi, confirmed that the Iraqi Stock Exchange is currently suffering from a lack of liquidity, due to the weak confidence of foreign investors in the Iraqi market.
Al-Halfi told Al-Eqtisad News that the Iraqi stock market suffers from a lack of liquidity, as trading rates are still relatively low compared to other markets in the region, noting that the daily trading volume may reach 3 billion dinars per day in the best case.
He stressed that the market value of the companies listed on the market exceeds 12 trillion dinars.
Most listed companies are seeing their shares decline as a result of lower demand and the exit of a number of foreign investors from the market.
Al-Halfi pointed out that foreign investors’ confidence in the Iraqi market is still low due to unstable political and economic factors, as well as the lack of legal and procedural facilities for opening accounts for foreign investors, in addition to the weakness of the infrastructure in electronic trading.
He pointed out that the lack of technology and modern financial infrastructure, including digital banking services and advanced electronic trading platforms, affects the efficiency of the market and its ability to attract investors, and that the development of the banking system will be positively and directly reflected in the development of the performance of market indicators.
Al-Halfi stressed the government’s role in promoting the stock market through economic reforms, supporting small and medium enterprises, and encouraging foreign investments.
Al-Halfi concluded his speech by saying that the Iraqi stock market reflects a complex reality that can be described as a mixture of pain and sadness as a result of the great challenges it faces, with some opportunities for joy and profits if the economic and political conditions improve link
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Al-Mandlawi: Iraq focuses on the economic and investment aspect through concluding bilateral international agreements
Acting Speaker of the Council of Representatives, Mr. Mohsen Al-Mandalawi, confirmed today, Monday, that Iraq is focusing on the economic and investment aspect by concluding bilateral international agreements.
Al-Mandlawi’s office said in a statement received by the Iraqi News Agency (INA), “Acting Speaker of Parliament Mohsen Al-Mandlawi met, at his residence today, Monday, with the US Deputy Ambassador to Iraq, and the Director of the Political Section at the Embassy, Michelle Siders, and the accompanying delegation, to discuss a number of files of mutual interest, and to discuss the latest developments in the region.”
He added that “during the meeting, the future of joint relations was discussed, and ways to develop them to serve the interests of the two friendly peoples, and the emphasis was placed on Iraq’s keenness to establish balanced relations with its regional and international surroundings based on cooperation and mutual respect, and contributing to the country’s growth and progress and achieving the people’s hopes and aspirations.”
Al-Mandlawi pointed out that “Iraq is currently looking forward, after the security situation has stabilized and ISIS gangs have been eliminated, to focusing on the economic and investment aspect through solid bilateral agreements and understandings capable of achieving comprehensive economic development in the country link
