Bond Lady’s Corner Iraqi News Articles 8-11-21


Iraqi News Wednesday AM 8-11-21

TLM724 Administrator BondLady’s Corner

The Central Bank Of Hard Currency Sales Exceed The $225 Million Barrier

Economie| 01:31 – 11/08/2021   Baghdad – Mawazine News, the Central Bank of Iraq’s sales rose, on Wednesday, to reach 225 million dollars.

And the Central Bank auction for the sale and purchase of foreign currencies, today, witnessed an increase in its sales by 7.66%, to reach 225 million, and 485 thousand and 324 dollars.

The purchases amounting to 135 million, 455 thousand and 324 dollars went to enhance balances abroad in the form of remittances and credits, while the remaining amount of 90 million and 30 thousand dollars went in cash.

34 banks responded to requests to enhance balances abroad, and nine banks to meet cash requests, in addition to the participation of 4 exchange companies.

Dollar Exchange Rates In Local Markets Today

Market   Economy News _ Baghdad  “Economy News” publishes the exchange rates of the dollar against the Iraqi dinar in the local markets on Wednesday.   Baghdad – Kifah Stock Exchange  147,850

The price in most Baghdad exchanges  buy   147,250   Sell   148,250 

Views 69 Date added 11/08/2021

Oil Prices Rise Due To Falling US Crude Inventories

Economie| 10:26 – 11/08/2021   Baghdad – Mawazine News:  Oil prices rose, on Wednesday, after data from the American Oil Institute showed a decline in oil and gasoline stocks, according to preliminary data, after days of decline due to fears of the impact of the Corona virus outbreak on the market.

The price of futures contracts for Brent crude, the standard for October delivery, rose at 71.07 dollars a barrel, after rising by 0.63 percent.

The price of future contracts for West Texas Intermediate crude, for delivery next September, rose around 68.67 dollars, an increase of 0.56 percent.

The market was affected by the emergence of the latest weekly data on crude and fuel stocks in the United States, which was issued on Tuesday by the American Petroleum Institute, which showed that auto fuel stocks fell by 1.11 million barrels last week and fell by 816,000 barrels last week. Ended 29/A 4

Zain Wins An Award From Ookla International For The Fastest Mobile Network In All Of Iraq

Dunya and Smart| 03:23 – 11/08/2021  Baghdad – Mawazine News   Zain Iraq, one of the leading Zain Group companies in mobile telecommunications and data services in the Middle East and Africa, won an award from the global company Ookla “as the fastest mobile network in all of Iraq” based on the performance of the internet networks, their speeds, and the coverage provided to customers. Its leadership in the telecommunications sector in Iraq and its continuous efforts in the field of digital transformation, and this award reinforces Zain’s position as the first choice of Iraqis.

The “Fastest Mobile Network in All of Iraq” award from Ookla, the world leader in broadband and mobile networks speed testing and analysis of download and data transmission speeds, is a new confirmation of the leadership and excellence of 4G-LTE services and offerings from Zain and its success in providing the fastest and strongest 4G network in Iraq.

Iraq also comes within the framework of its strategy based on providing the latest and most advanced technological services, products and solutions in the field of communications, in order to meet the changing requirements of subscribers and their future aspirations.

It is worth noting that after the launch of Zain as the first telecom company in Iraq for 4G-LTE services in all governorates, which moved Iraq in the global classification of internet speed by 60 ranks, by obtaining 65th place after the launch of 4G, after Iraq was ranked 125th in the global rankings .

Ali Al-Zahid, CEO of Zain Iraq, said, “We are pleased to receive the “fastest mobile network in all of Iraq” award from Ookla, which is a new achievement as it comes from a highly credible body, and comes based on actual Internet speed tests for millions of users.”

Zahid adds that “this The award, which ranked Zain Iraq as the fastest network, is new evidence of our success in achieving our promise to the Iraqis to provide the best experience for subscribers of the fourth generation services in the region, and this reflects the volume of our investments in the latest technology and technologies used in the world in the 4G network in all the governorates of Iraq.”

The CEO of Ookla Dougstools said, “I congratulate Zain for winning the “Fastest Mobile Network in Iraq” award, and this is evidence of Zain’s continued investment in developing and expanding its network and emphasizing on providing the best service to customers. Zain has the highest internet speeds in Iraq.

SpeedTest from Ookla is an accurate and effective tool for measuring Internet speeds globally, enabling users to quickly measure the speed and performance of the Internet. Since its founding in 2006, more than 37 billion speed tests have been conducted using SpeedTest.

Ookla awards its prizes to the most prominent telecom operators in the world after evaluating the services provided using the “SpeedScore” technology, which includes a measurement of network speeds in the download and upload processes, and more than ten million speed quality checks are performed daily by users around the world in the locations and times they Where communication and communication are essential for users.

Parliamentary Finance: Salaries Must Be Reconsidered

Political   | 01:01 – 11/08/2021   Baghdad – Mawazine News   On Wednesday, the Parliamentary Finance Committee identified ways to eliminate unemployment and reduce the burden on upcoming budgets, while recommending a review of salaries.

Committee member Magda Al-Tamimi said, according to the official agency, that “the committee expects to calculate the price of a barrel of oil in the 2022 budget at a maximum of 55 dollars.”

She added that “the government should support the private sector if it wants to reduce the burden on the upcoming budgets,” noting that “supporting the private sector would create job opportunities for young job seekers and graduates whose numbers are increasing dramatically, which has led to a high unemployment curve.”

And she added, “The government sector is unable to absorb these numbers even after the retirement age has been reduced to 60 years and thousands of employees have retired, as the problem of the heroine has not been resolved.”

Regarding the salary scale, Al-Tamimi stressed that “salaries need to be reconsidered, to be a logical and fair scale, as well as solving the problem of calculating certificates, whether unauthorized, or obtained during service.” Ended 29/A43

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

Source: Dinar Recaps

More Iraqi News Wednesday PM 8-11-21

TLM724 Administrator BondLady’s Corner

How Can The Increase In The Per Capita Income Of Iraq Be Achieved?

2021/08/11 21:20    number of readings 126    Section : file and analysis

Baghdad / Obelisk: The financial advisor to the Prime Minister, Mazhar Muhammad Salih, proposed, Wednesday, August 11, 2021, two ways to achieve an increase in the income of the Iraqi individual.

Saleh told Al-Masala, “The first is to find independent internal financial levers that maximize non-oil revenues, represented by taxes and fees, mainly by expanding the tax base, which is at the narrowest point in Iraq’s financial history due to the large number of evaders.”

He stressed that “the second way is to move towards benefiting from the economic surplus in the private sector (savings), which requires, through joint financing between the state and the private sector, the activation of the principles of partnership as an important means in achieving the policy of self-reliance, especially in the field of joint investment spending in financing projects and maximizing the production function.”.

He added, “Such developments in financial sustainability outside the oil rent and its external risks necessitate to help increase per capita income, firstly, a broader growth in non-oil GDP, and secondly, a rise in operating rates, which helps to raise income continuously, and this is one of the financial tributaries that increase of the internal financing opportunities in the general budget.

He pointed out that “direct borrowing and with attractive financial instruments to attract the public’s financial surpluses directly towards the general budget requires the issuance of attractive financial instruments in which the public invests its money and with appropriate interest or returns, such as national bonds, for example, and consider it an important alternative to external borrowing, if the sincere intention is held and available.

The correct institutional mechanisms for such developments in the national financial market, which will become a supportive force for fiscal policy,”

explaining that “for example, the public retains a cash mass of more than 70 trillion dinars of cash issued from it as monetary wealth outside the banking system at a rate that is still no less than 88%. In the form of liquid cash balances hoarded outside the banking system.

He pointed out that “at the same time, this matter is a huge leakage that hinders the role of the cash surplus in completing the income cycle by converting savings into productive investments that serve growth in the national economy,”

noting that “there must be the birth of an attractive voluntary financial market for the circulation of government bonds with interest, returns and privileges for investors with its tools.” Including the right to liquidate it and transfer it to cash when needed, and consider it a means of payment and a guarantee of the highest class.”

Saleh concluded by saying that “in this way, the financial market will become one of the internal tributaries of public finances that enhance financial sustainability and gradually develop it within the sustainable development of the country.”   Obeliskكيف-يمكن-تحقيق-الارتفاع-في-دخل-الفرد-العراقي

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

Source: Dinar Recaps


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