TNT
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
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
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
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 I**S 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
Source: Dinar Recaps
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Tishwash:
Parliamentary Finance Committee confirms that it will soon resume its investigation into changes made to the General Budget Law tables
The Parliamentary Finance Committee confirmed that it will soon resume its investigation into changes to the general budget law tables that were officially approved by the Council of Representatives, and objected to by the Prime Minister’s Office.
Committee member, MP Moeen Al-Kazemi, said in a statement to the National Iraqi News Agency (NINA), that “the parliamentary investigation committee assigned by the Finance Committee will resume its work soon, to determine the reasons for the change in the general budget tables officially signed by the Speaker of Parliament and sent to the Council of Ministers.”
He added, “The government is working with its tables approved by the Council of Representatives, and there is no financial damage to the public treasury,” indicating, “The work on the general budget ceiling of 226 trillion dinars has been suspended, and the government is proceeding with implementing its tables that were approved by the Council of Representatives.”
He explained, “The Parliamentary Finance Committee is following up on the reasons for the difference between the government version of the general budget tables and the paper and electronic version of the Council of Representatives.” link
Saleh: PM’s visit to Egypt, Tunisia will serve national, regional interests
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, explained today, Tuesday, the importance of Prime Minister Muhammad Shia al-Sudani’s visit to Egypt and Tunisia, stressing that this visit will develop strategic partnerships and will bring economic benefits to Iraq and those two countries, in addition to serving national and regional interests.
Saleh said, in a statement to the media, followed by “Al-Eqtisad News”, that “the visit of Prime Minister Mohammed Shia Al-Sudani to Egypt and Tunisia is important, especially since they are the incubator of the Arab League in two different time periods, and they have long historical relations with Iraq.”
He added that “the Prime Minister’s visit to Egypt and Tunisia is of great importance from several aspects, most notably strengthening bilateral relations and enhancing cooperation in the fields of economy, cultural and educational exchange,” noting that “this important visit will open the way for signing economic or technical agreements or memoranda of understanding that serve the common collective interest.”
He stressed that “this visit will enhance the follow-up of ways of joint cooperation, especially the development of existing projects in construction and housing undertaken by companies from the two countries, especially Egypt, in addition to enhancing trade and investment with the two sister countries, which will benefit the national economy of Iraq and those two countries, in addition to enhancing positive rapprochement between the peoples and sons of the region. The visit will also provide an opportunity for consultation on international and regional issues of common interest.”
Saleh stressed that “the Prime Minister’s visit to Egypt and Tunisia will develop strategic partnerships and achieve common goals that serve national and regional interests.” link
Source: Dinar Recaps
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