Bondlady’s Corner

Iraqi News Highlights Tuesday Afternoon 4-11-23

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The Minister Of Foreign Affairs Stresses The Need To Strengthen Ties Between Iraq And The World Bank To Implement Vital Projects

Tuesday 11, April 2023 00:00 | Economical Number of readings: 868  Baghdad / NINA / – Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, received the representative of the World Bank in Iraq, Richard Abdel Nour.  During the meeting, according to a statement by the Ministry of Foreign Affairs, projects funded by the World Bank in Iraq, their completion rates, and the obstacles that stand in the way of their implementation were discussed.

The minister stressed the need to strengthen ties between Iraq and the World Bank to implement vital projects to serve the public interest and work to overcome the difficulties facing the implementation of these projects.

The two sides discussed the projects implemented by the World Bank in Iraq, and their implementation will be in coordination with the Ministries of Planning and Finance.

The projects are focused on infrastructure, especially in areas that have been subjected to war operations against terrorism, as the World Bank has allocated $300 million for the community development project to implement projects in all governorates, which is reflected in Positively for the local communities, and an amount of 750 million dollars was allocated for the rehabilitation of bridges and vital projects, of which about 400 million dollars were spent, in addition to that the World Bank allocated an amount of 210 million dollars for the rehabilitation of the Baghdad Water Project./

Governor Of The Central Bank Of Iraq: A Large International Company Looking To Invest And Develop Data Centers In Iraq

Tuesday 11, April 2023 10:18 | Economical Number of readings: 434  Baghdad / NINA /- The Governor of the Central Bank, Ali Mohsen Ismail, announced today, Tuesday, that the international company (IronPoint Iconic) is looking forward to investments and the development of data centers in Iraq to facilitate the transformation of the Iraqi economy into digital, stressing the desire of the Central Bank of Iraq to develop its infrastructure.

And a statement by the central bank stated, “The governor of the Central Bank of Iraq, Ali Mohsen Ismail, met with a delegation from the company (IronPoint Iconic), which is one of the largest owners of data centers in the world, and operates in more than 26 markets in the United States, Europe and Asia, and the company owns data centers.” Data for the world’s largest technology companies with development and operation of these centers, including Apple, Microsoft, Google and Amazon.

The governor of the Central Bank indicated that he had received a presentation from the company regarding global growth trends in the data center market, whose profits are expected to double in the next four years to reach about $720 billion.

He explained, “IronPoint Iconic is looking forward to investments and developing data centers in Iraq to facilitate the transformation of the Iraqi economy into digital,” stressing “the desire of the Central Bank of Iraq to develop its infrastructure, and the need to store and operate data on Iraqi territory to protect national security, and in line with international best practices.”

The Minister Of Oil Is Discussing With The US Ambassador Issues Of Common Concern

Tuesday 11, April 2023 10:32 | Economical Number of readings: 497   Baghdad / NINA / – Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani, discussed with US Ambassador Alina Romanowsky issues of common concern.

A statement from the Ministry of Oil stated that Abdul-Ghani received Romanowski, and during the meeting they discussed issues of common interest, and ways to enhance cooperation in the oil and energy sector. / End 2

The Stability Of Dollar Prices In The Local Markets

Tuesday 11, April 2023 11:16 | Economical Number of readings: 527  Baghdad / NINA / – Today, Tuesday, the exchange rates of the dollar witnessed stability in the local markets. And the selling prices of the dollar were recorded, 144,750 dinars per 100 dollars , while the buying prices of the dollar were recorded at 144,000 dinars per  100 dollars.

A dollar and selling it at (1310) dinars per dollar to banks through the electronic platform, and it is sold at (1320) dinars per dollar from banks and non-bank financial institutions to the final beneficiary.

The Finance Committee agrees to fix the exchange rate of the dollar at 130,000 in the budget law

Tuesday 11, April 2023 12:35 | Economical Number of readings: 629  Baghdad / NINA / Thamer Dhiban, a member of the Finance Committee, announced the committee’s agreement to fix the exchange rate of the dollar at 130,000 in the budget law.

High Oil Prices In World Markets

Energy  Economy News – Baghdad  Oil prices rose today, Tuesday, as market participants assessed the OPEC + decision to cut production, which would reduce supplies in the market, in exchange for concerns about raising interest rates, which is likely to hurt demand.

Investors are awaiting this week a set of reports about inflation, supply and demand in the oil market, which may determine the direction of the market.

Brent crude rose 8 cents to $84.26 a barrel, while West Texas Intermediate crude rose 11 cents to $79.85 a barrel.

Oil prices fell yesterday, Monday, after rising for 3 consecutive weeks, after US jobs data indicated a lack of employment, which raised expectations of another increase in interest rates by the Federal Reserve, which may lead to a decline in demand for oil.

Expectations of a rate hike boosted the dollar index on Monday and Tuesday, which could put pressure on oil prices, as the rise of the dollar makes oil more expensive for buyers holding other currencies.

Oil futures have risen more than 5% since the OPEC + group, which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, announced last week a new round of production cuts starting in May, surprising the markets.

As for supply in the United States, US crude inventories data is scheduled for release today, Tuesday. Five analysts polled by Reuters predicted that crude inventories fell by an average of 1.3 million barrels during the week ending April 7.

The US inflation report is due out on Wednesday and is expected to help investors determine the path of interest rates in the short term.

A monthly report is also expected from OPEC on Thursday and the International Energy Agency on Friday to update forecasts for oil demand and supply.

“Thanks To The Central Bank’s Measures.” Source: Dollar Prices Will Drop To Less Than 1400 In The Coming Days

Money  and business  Economy News / Baghdad   A government official confirmed that the decline in the exchange rate of the dollar against the dinar is due to the measures taken by the Central Bank within the packages to deal with the dollar file.

Since the end of last year, the value of the dinar has declined after the US Federal Bank tightened procedures on remittances issued from Iraq.

The official, who refused to be named, told Al-Iqtisad News, “The increase in the value of the dinar during the current days is due to the firmness taken by the Central Bank to address the crisis, which was represented by the application of international standards, which made the Federal Bank accept many remittances issued by Iraqi banks.” .

He added that “many businessmen have opened bank accounts for their import companies, which has reduced the demand for the dollar in the parallel market,” noting that “the coming days will lead to a drop in the dollar to less than 1,400 dinars.”

The President of the Republic: The need to work on developing the movement of the internal market and rationing imports

Political | 01:30 – 11/04/2023  Baghdad – Mawazine News, President of the Republic, Abdul Latif Jamal Rashid, received, on Tuesday, the head of the Academic Syndicate, Muhannad Abdul Hassan Hilal, and his accompanying delegation.

During the meeting, according to a statement by the Presidency of the Republic, “the trade union reality was discussed, as the President of the Republic indicated the importance of the contribution of trade unions, organizations and federations to scientific development and knowledge of the progress the world is witnessing.”

Rashid stressed, “The importance of academic elites presenting their visions to the government in order to advance its role in achieving its development goals,” pointing to “the need to work on developing the internal market movement, legalizing imports, and activating the national industry.” Ended 29/N33

Central Bank Sales Of The Dollar Decreased For The Second Day

Economy| 11:20 – 11/04/2023   Baghdad – Mawazine News   Central Bank sales of dollars decreased for the second day in a row, to record 191.5 million dollars.


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