Bondlady’s Corner

Iraqi News Highlights Tuesday Afternoon 5-2-23

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Al-Sudani: The Government Is Proceeding With The Procedures For Recovering The Looted Funds And Those Who Are Legally Wanted

Money  and business  Economy News – Baghdad  Prime Minister Muhammad Shia al-Sudani affirmed, on Tuesday, that the government is proceeding with the procedures for recovering the looted funds and those who are legally wanted.  Al-Sudani’s office said in a statement that the prime minister received the head of the Supreme Judicial Council, Judge Faeq Zaidan.

The two parties discussed “the latest developments in the situation at the national level, the progress of government agencies in implementing the service and reform program, and their efforts in combating corruption, which is reflected in comprehensive development.”

Al-Sudani stressed, “the importance of assigning the judiciary to the government’s efforts in combating corruption and prosecuting the corrupt,” noting that “the government is proceeding with the procedures for recovering looted funds and those legally wanted, and assisting the Iraqi judiciary and its legal and constitutional paths.”

 The Price Of The Dollar Increased In Baghdad With The Closing Of The Stock Market

Economy   May 2, 2023   Baghdad / The National News Center  The exchange rates of the US dollar rose against the Iraqi dinar, today, Tuesday, with the closure of the main stock exchange in Baghdad.

The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed at an exchange rate of 143,100 Iraqi dinars for 100 dollars, while the prices this morning were 142,400 dinars for 100 dollars.”

He added, “The buying and selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 143,500 Iraqi dinars, while the purchase prices reached 142,500 dinars per 100 dollars.”

Central Bank Sales Increased To More Than 183 Million Dollars

Economy   Tuesday, May 2, 2023 Baghdad / National News Center  The Central Bank of Iraq’s sales of foreign currency rose today, Tuesday, to record about $183 million.

According to the schedule of the currency sale window, followed by the National News Center, the Central Bank sold during its auction today 183,008,944 dollars, which the bank covered at an exchange rate of 1305 dinars, per dollar for documentary credits and international settlements of electronic cards, and at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in the form of monetary.

Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits), amounting to $162,108,944 million, while the remaining $20,900,000 million went in the form of cash sales.

The Prime Minister Stresses The Importance Of Strengthening The Tracks Of Cooperation Between Iraq And The United States Of America

Prime Minister Muhammad Shia Al-Sudani stressed the importance of strengthening cooperation paths between Iraq and the United States of America.

The media office of the Prime Minister said in a statement, “Prime Minister Muhammad Shia’ al-Sudani received the Assistant Secretary of State of the United States of America for Middle East Affairs, Barbara Leaf and her accompanying delegation,” noting that “during the meeting, they discussed bilateral relations between the two countries, and discussed A number of regional and international issues and files of common interest.

The Prime Minister stressed “the importance of strengthening the paths of cooperation between Iraq and the United States of America, and ways of developing them within the strategic framework agreement, especially in the fields of industry, trade and education.”

He referred to “the government’s work priorities in implementing programs and plans that contribute to achieving economic development, especially in the field of energy.”

For her part, the US Assistant Secretary of State referred to the “development in the relationship between the two countries,” stressing that her country “is looking closely at the relationship with Iraq, due to its importance and status in the region.”

Mazhar Muhammad Saleh To / NINA /: The Oil Price Remaining At $80 Will Gradually Reduce The Budget Deficit

Tuesday 02 May 2023 11:25 | Economical Number of readings: 505   Baghdad / NINA / – The government’s financial adviser, Mazhar Muhammad Salih, confirmed: that the oil price remaining at $80 will gradually reduce the state’s general budget deficit.

He told the National Iraqi News Agency ( NINA ): What OPEC + made of the decision to reduce voluntary production of member countries throughout the current year by about 1.5 million barrels and in different shares undoubtedly comes as a result of the fluctuations in the geopolitical situation and its effects in Russia or the battlefields.

Saleh added: The decision of OPEC + came in line with the geopolitical control of energy flows in the world, which is dominated by preparations for the ongoing field war between East and West.

He explained: The default price for calculating oil revenues in the draft general budget in Iraq is $70, and the annual average of crude oil prices is about $80 per barrel, which will reduce the hypothetical deficit gap of 63 trillion dinars, provided that the decrease in Iraq’s share of controlling production is compensated and excessive consumption is avoided locally. Crude oil, in order to maintain the maximum revenue for the public budget with the least possible deficit./End 3

The Iraq Stock Exchange.. Trading Indicators Of Joint-Stock Companies Rose 8% In April

Money  and business  Economy News / Baghdad  The Iraqi Stock Exchange announced, on Tuesday, the trading indicators of shares of joint-stock companies for the month of April 2023.

The executive director of the market, Taha Ahmed Abdel Salam, said in a statement that the market organized (17) trading sessions for the shares of the Iraqi joint-stock companies listed in the market, which numbered (102) joint-stock companies, in the month of April 2023.

The market did not organize the trading session on 13/4 due to declaring it an official holiday. And the trading sessions for the days (20), (23) and (24) of April 2023, as it coincides with the Eid Al-Fitr holiday.

The number of companies whose shares are traded is (68) joint stock companies, while the number of shares traded in the market is (88) billion shares, and the value of shares traded is more than (49) billion dinars.

As for the number of executed transactions, it reached (8,633) transactions, while the ISX60 traded stock price index closed at 638,710 points in the first session of April and 695,960 points in the last session of April.

The index had closed in the last session of March at 641,460 points, and thus the ISX60 index achieved an increase of 9% in the month of April compared to its beginning, and achieved an increase of 8.5% compared to its closing in the month of March.

The Iraq Stock Exchange continues to organize trading sessions in accordance with the trading regulations, the following times, using electronic systems:

Pre-Open Order Entry Period 9:30 – 10:00

  • Trading session – opening, trading and closing 10:00 – 1:00
  • Big Deals and Contradictory Session 1:00 – 1:30

A New Decline In Global Oil Prices

Economy|  02/05/2023  Follow-up – Mawazine News  Oil prices fell in weak Asian trading in early Tuesday, as the market absorbed weak economic data from China and expectations of raising US interest rates again.   Brent crude fell 2 cents to $79.29 a barrel by 0021 GMT.

US West Texas Intermediate crude also fell 2 cents to $75.64. Both benchmarks fell by more than $1 in the past session.

Oil: Last Month’s Revenues Amounted To $7.7 Billion

Economy| 01:08 – 02/05/2023  Baghdad – Mawazine News   The Ministry of Oil announced, on Tuesday, that revenues for the month of April amounted to more than 7 billion dollars, while it indicated that the average price per barrel was more than 79 dollars.

A statement by the ministry stated, “The total exports and revenues achieved for the month of April, according to the preliminary statistics issued by the Iraqi Oil Marketing Company (SOMO), amounted to 98 million and 634 thousand and 947 barrels, with revenues amounting to (7.796) billion dollars.”

He added, “The total exported quantities of crude oil for the month of April from the oil fields in central and southern Iraq amounted to 98 million and 634 thousand and 947 barrels,” noting that “the average daily quantities exported amounted to 3 million and 288 thousand barrels per day, and that the average price per barrel It amounted to more than (79.04) dollars. Ended 29/N33


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