Bondlady’s Corner

Iraqi News Highlights Thursday Evening 2-23-23

Tlm724 Administrator Bondlady’s Corner

Oil Prices End Six Days Of Losses

Economie| 08:40 – 02/23/2023   Follow-up – Mawazine News   Oil prices rose slightly in weak Asian trade on Thursday, ending six days of losses fueled by growing concerns that higher interest rates by central banks could put pressure on economic growth and boost fuel demand.  And by 0110 GMT, Brent crude futures rose two to $ 80.62 a barrel. West Texas Intermediate crude rose nine cents, or 0.1 percent, to $74.04 a barrel.

A statement from the latest meeting of the Federal Reserve (the US Central Bank) revealed that the majority of bank officials agreed that the risks of high inflation are still an important factor in formulating monetary policy, which justifies the continuation of raising interest rates until it is controlled. Ended 29/N33

Trade Moves To Launch (Iraq Stock Exchange) For Food And Construction Materials

Economie| 09:49 – 02/23/2023   Baghdad – Mawazine News, on Thursday, the Ministry of Commerce revealed a project to establish the Iraq Stock Exchange platform to display the prices of food and construction materials to limit their rise.

The director of the Private Sector Development Department in the ministry, Muhammad Hanoun, said, “The department is working to implement the paragraphs of the government program, including the launch of the Iraq Stock Exchange platform on the Internet, which includes the prices of food and construction materials for the purpose of limiting the rise in their prices in the local market and becomes the open market window for supply and demand.”

Hanoun added, in an interview with the official newspaper, “Al-Sabah”, which was followed by Mawazine News, that “the government is working to support the private sector of meat and poultry producers, while providing large quantities of basic foodstuffs at reduced prices in the local markets in support of the national effort.” Ended 29/N33

Iraq’s Possession Of US Bonds Rises To 40.8 Billion Dollars

Economie| 12:32 – 02/23/2023   Follow-up – Mawazine News  The US Treasury Department announced, on Thursday, that Iraq’s possession of US bonds has increased to $40.8 billion.

According to the ministry’s latest schedule, “Iraq’s possession of these bonds amounted to $40.8 billion for the month of December 2022, up by 2.77 percent from November of the year 2022, and up by 7.37 percent from October 2022.”

She added, “Iraq rose one place to reach the 31st rank among the countries with the largest possession of US Treasury bonds, which number 38 countries listed in the table for countries with possessions of more than 32 billion dollars,” noting that “Iraq came the fourth largest Arab country after Saudi Arabia, Kuwait and the Emirates.” “.

In The Document.. A Circular From The Anti-Money Laundering Office Regarding (Suspicious Transactions)

Economie| 01:37 – 02/23/2023   Baghdad – Mawazine News  The Central Bank’s Anti-Money Laundering and Terrorist Financing Office issued circulars to banks licensed by the Central Bank of Iraq and all non-bank financial institutions to report “suspicious transactions”.

Al-Sudani To The Australian Envoy: We Look Forward To Establishing Partnerships In The Fields Of Economy, Culture And Investment

Political | 12:36 – 02/23/2023  Baghdad – Mawazine News, Prime Minister Muhammad Shia’ al-Sudani received today, Thursday, Australian envoy Nick Warner.

During the meeting, according to a statement by the Prime Minister’s Office, which Mawazine News received, they discussed “bilateral relations between the two countries, and ways to develop joint cooperation in several fields.”

The statement added that Warner “conveyed the greetings of the Australian Prime Minister to the Prime Minister, and Australia’s desire to build bridges of cooperation with Iraq in various fields, in a way that enhances the interests of the two countries in development and prosperity.”

Al-Sudani praised “Australia’s role and its support for Iraq in the war against ISIS terrorist gangs,” stressing “Iraq’s aspiration for more development cooperation and partnerships in the economic, cultural and investment fields, and in the field of facing climate challenges.” Ended 29/N33

The Parliamentary Economy Calls On The Bank To Explain The Reasons For The Fluctuation Of The Dollar Exchange Rate In The Markets

Wednesday, February 22, 2023 5:38 PM  Baghdad / The National News Center  The Parliamentary Economy Committee demanded, today, Wednesday, the Central Bank of Iraq, to explain the reasons for the fluctuation of the dollar exchange rate in the Iraqi markets against the dinar, and the procedures followed.

And the media department of the council stated in a statement received by the National News Center that “the Committee on Economy, Industry and Trade, headed by Representative Ahmed Salim Al-Kinani, Chairman of the Committee, and in the presence of its members, hosted Ali Al-Alaq, Governor of the Central Bank.”

She added, “The committee discussed with the relationship the fluctuation in the exchange rate of the dollar against the Iraqi dinar in the local markets, as well as the measures taken by the Central Bank to support financial and economic stability in Iraq.”

The Minister Of Interior Is Discussing With The US Ambassador Providing Support And Training To The Joints And Formations Of The Ministry

Interior Minister Abd al-Amir al-Shammari and the US ambassador to Baghdad, Alina Romanowski, discussed supporting and training the ministry’s joints and formations.

The Ministry of Interior said in a statement: “The Minister of Interior, Abd al-Amir al-Shammari, received, in his office, the US Ambassador to Baghdad, Alina Romanowski.”

He added, “Al-Shammari discussed with the American ambassador a number of issues of common interest, foremost of which is providing support and training to the joints and formations of the Ministry of Interior.”

Central Bank Sales Drop To 106 Million Dollars

Money and business  Economy News / Baghdad  The central bank’s sales of dollars decreased at auction today, Thursday, by 47%, to record 106 million dollars.

The correspondent of the “Economy News” agency stated that “the central bank sold today, during its auction for buying and selling US dollars, 106 million and 855 thousand and 419 dollars, a decrease of 47% compared to yesterday’s sales, which amounted to 203 million and 926 thousand and 209 dollars, which the bank covered at an exchange rate.”

The base amounted to 1305 dinars per dollar for documentary credits and international settlements of electronic cards, at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in cash.

He added that most of the dollar sales went to enhance balances abroad in the form of (remittances, credits) at 81,655,419 dollars, while the rest of 25,200,000 dollars went in the form of cash sales.

He pointed out that the banks that bought cash dollars amounted to 9 banks, while the number of banks that met requests to strengthen balances abroad reached 18 banks, while the total number of exchange and mediation companies participating in the auction was 65 companies.


To read more current and reliable Iraqi news please visit BondLady’s Corner: