Bondlady’s Corner

Iraqi News Highlights Wednesday Afternoon 1-18-23

Tlm724 Administrator Bondlady’s Corner

The $100 Category Exceeds 161,000 Dinars With The Closing In Baghdad And Erbil

Posted On2023-01-18 By Sotaliraq  The exchange rates of the dollar rose against the Iraqi dinar, today, Wednesday, with the closure of the main stock exchange in Baghdad, and Erbil, the capital of the Kurdistan Region.   Our correspondent said that the central Kifah Stock Exchange in Baghdad closed at 161,400 Iraqi dinars for 100 dollars.

While the prices this morning were 160,500 Iraqi dinars for every 100 dollars. Our correspondent indicated that the buying and selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 162,000 Iraqi dinars, while the purchase prices reached 160,000 dinars for every 100 dollars. For every 100 dollars, the purchase price is 161,950 dinars for 100 dollars.  LINK

The dollar settles at 159,500 dinars in the Iraqi market

Economie| 10:03 – 01/18/2023  Baghdad – Mawazine News   Today, Wednesday, the exchange rates of the dollar witnessed stability in the local markets.   Selling price: 159,500 dinars per 100 dollars  Buying price: 159,200 dinars per 100 dollars

Oil Prices Continue To Gain On Expectations Of A Recovery In Chinese Demand

Economie| 08:44 – 01/18/2023  Follow-up – Mawazine News  Oil prices rose, on Wednesday, to continue the gains from the previous session, driven by optimism that the easing of strict restrictions related to Covid-19 in China will lead to a recovery in fuel demand in the largest oil importer in the world.

Brent crude futures rose 52 cents, or 0.6 percent, to $86.44 a barrel by 0151 GMT, after rising 1.7 percent in the previous session, according to Reuters data.

West Texas Intermediate crude futures rose 55 cents, or 0.7%, to $80.73 a barrel, after rising 0.4% on Tuesday.

“Oil prices have been supported by growing hopes that fuel demand in China will rebound after the recent shift in its COVID-19 policy,” said Toshitaka Tazawa, an analyst at Fujitomi Securities.

“OPEC’s optimistic outlook on Chinese demand has also supported market sentiment,” he added, predicting an upward path this week.

The President Of The Republic To The President Of The European Bank For Reconstruction: Iraq Possesses The Will And Has The Capabilities For Comprehensive National Development

Wednesday 18 January 2023 18:34 | Economical Number of readings: 131

Baghdad / NINA / – The President of the Republic, Abdul Latif Jamal Rashid, received today, Wednesday, in the World Economic Forum building, the President of the European Bank for Reconstruction and Development, Odile Renaud Basso.

President Rashid stressed, during the meeting: “Iraq possesses the will, and has the capabilities and energies to support a comprehensive national development.”

He added: “The Iraqi government affirms that the promotion of sustainable local development takes place through building strategic regional and international partnerships, and encouraging the private sector in Iraq.”/ End 2

Al-Nusairi: 426,000 Beneficiaries Of The Central Bank’s Initiatives

Money and business   Economy News-Baghdad  Today, Wednesday, the economic and banking advisor to the Association of Iraqi Private Banks, Samir Al-Nusairi, praised the results achieved by the Central Bank’s lending initiatives amounting to 18 trillion dinars.

Al-Nusairi said, “The official data for the year 2022 indicate that the beneficiaries of the initiatives amounted to about 426,000 citizens, and that the total amounts that were lent out of the total allocation amounted to 11.5 trillion dinars, with an implementation rate of 63%, at the total level, of which the allocations for revitalizing the housing sector constitute 8. 6 trillion dinars, with an implementation rate of 86% for the Real Estate Bank and 78% for the Housing Fund, to encourage citizens to buy housing units or establish residential properties in residential complexes and cities, up to 150,000 housing units.

Al-Nusairi stressed that “the loans granted by private banks constitute 62% of the allocation to them from the Central Bank of 4 trillion dinars, in addition to allocating another 4 trillion dinars to specialized government banks such as the Industrial and Agricultural Bank, financing large projects and to renewable energy projects,”

explaining that “the total loans granted For all sectors except housing, it contributed to the operation of 60,000 small, medium and large projects, and the employment of more than 271,000 unemployed beneficiaries in these funded projects, including graduates, craftsmen and citizens.

He explained, “The remaining amounts of the 18 trillion dinars, amounting to approximately 6.5 trillion dinars, will be granted this year 2023 to finance small and medium-sized agricultural, industrial, housing, commercial, health and tourism projects and for all economic sectors. It is expected to increase in light of the need to revitalize the economic cycle and stimulate the national economy.”

Views 168   Added 01/18/2023 – 11:25 AM  Updated 01/18/2023 – 7:16 PM

The President Of The Republic: The Importance Of Strengthening Relations With The European Bank Regarding The Diversification Of The Economy

Money and business  Economy News – Baghdad President of the Republic Abdel Latif Jamal Rashid received, on Wednesday, the President of the European Bank for Reconstruction and Development, Odile Renaud Basso, in the World Economic Forum building.

The President of the Republic stressed, according to a statement by his office, “the importance of strengthening relations with the European Bank, especially with regard to diversifying the economy and enhancing its stability, as well as creating appropriate conditions for achieving sustainable economic development that focuses on facilitating business implementation and providing an attractive environment for effective investment.”

He added, “Iraq possesses the will, and has the capabilities and energies to support a comprehensive national development,” noting that “the Iraqi government confirms that the promotion of sustainable local development takes place through building strategic regional and international partnerships, and encouraging the private sector in Iraq.”

The President of the Republic called for “international cooperation to preserve the movement of global food trade and prevent disruption in its supply chain, in a way that enhances global food security.”

In turn, the President of the European Bank for Reconstruction and Development expressed the bank’s pride in the close relations with Iraq, praising the success of the Iraqi efforts to achieve economic reform, and stressing the European Bank’s keenness to develop joint cooperation at various levels.

Views 1   Added 01/18/2023 – 6:49 PM   Updated 01/18/2023 – 6:49 PM

Central Bank Governor Calls For Support For Iraq In The Face Of Climate Change

Economie| 12:50 – 01/18/2023   Baghdad – Mawazine News, Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, called, on Wednesday, to support Iraq in facing climate change and reducing its negative effects, stressing the importance of continuing and developing cooperation with United Nations programs.

A statement by the Central Bank, received by Mawazine News, said, “The Governor of the Central Bank, Mustafa Ghaleb Makhaif, received the Resident Representative of the United Nations Development Program in Iraq, Aoki Lootsma, and his accompanying delegation.”

The statement added, “During the meeting, they discussed aspects of joint cooperation between the two sides in several aspects, especially programs and policies aimed at combating poverty and unemployment, according to the priorities set by the government program.”

Makhaif expressed his desire “to continue and develop cooperation with United Nations programs, including the Development Program, which provided great support to Iraq in the humanitarian and development aspects.”

He called for “supporting Iraq in facing climate change and reducing its negative effects on vulnerable groups in society,” reviewing “the plans adopted and financed by this bank for the transition to clean energy.”

For his part, Loutsma appreciated the efforts “provided by the Central Bank of Iraq in the development and banking fields,” noting that “Iraq possesses many important opportunities, which the program seeks to achieve more cooperation in order to invest and direct them towards development, and the development of various sectors throughout the country in light of The joint action strategy for the coming years, which the UN program is working to complete, and present to the Iraqi government in the coming weeks. Ended


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