Thurs. AM TNT News Articles 9-2-21



3 decades after the invasion, Iraq is close to turning the page on Kuwait’s compensation

Shafaq News/ The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed on Wednesday that Iraq will fulfill all its obligations regarding compensation for the invasion of Kuwait next year.

Saleh said in an interview with Shafaq News Agency, “Deduction of 3% of each barrel exported abroad as compensation for the Kuwait war will end next year.”

He added, “The remaining amount is not more than one billion dollars, and it will be completed in the coming months.”

 Iraq must deposit a percentage of its export revenues from sales of oil, its products and gas, in an international fund established under the name of the United Nations Compensation Fund.

In 1991, a UN Compensation Committee was formed, obligating Baghdad to pay $52.4 billion in compensation to individuals, companies, governmental organizations and others, who incurred losses resulting directly from the invasion and occupation of Kuwait in the early 1990s.

3 decades after the invasion, Iraq is close to turning the page on Kuwait’s compensation

Iraq.. Online exhibition to promote trade exchange with China

The city of Erbil witnessed the launch of a trade fair, with the participation of more than 250 Iraqi and Chinese companies in an online form.

The head of the Erbil branch of the Union of Importers and Exporters in the Kurdistan Region, Kellan Haji Saeed, told the official newspaper: “The exhibition was launched electronically via the Internet between the Chinese province of Jiangsu and its counterpart Kurdistan, with the participation of 188 Chinese companies, in addition to the participation of 60 local companies from the region.”

He added that “the exhibition aims to strengthen, consolidate and strengthen commercial relations,” noting that “the circumstances of the Corona pandemic did not enable the establishment and opening of these activities in a realistic manner.”

He stressed that “China is interested in the Iraqi market in general and the Kurdistan region in particular, because there is a large consumer market and we have a large volume of trade exchange with China, which is always interested in continuing these trade and investment relations.”

He explained that the exhibition will last for 3 days, and there will be many commercial meetings via the Internet, that is, electronically.  ink

The Iraqi Stock Exchange tops the performance of the Arab stock exchanges

Eleven Arab stock exchanges recorded a rise last week, led by the Iraq Stock Exchange with the upward movement, which was achieved at the level of Arab stock exchanges, with the index recording an increase of 8.84%.

The weekly bulletin of the Arab financial markets, based on the database of the Arab Monetary Fund, and data issued by the Arab stock exchanges, and followed by “Economy News” stated that “the trading value recorded an increase in the stock exchanges of Abu Dhabi, Kuwait and Iraq, with rates ranging between 3.57 and 19.92%.

The weekly trading volume of ten Arab stock exchanges witnessed an increase in their trading volume, led by the Dubai Financial Market and the Iraq Stock Exchange.

Yesterday, Wednesday, the Iraqi stock market index rose by 0.24% after trading 44 billion shares, worth 11 billion dinars.  link

Source: Dinar Recaps


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