Tues. PM KTFA News Articles 8-30-22

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Samson » August 30th, 2022

Because of the current situation, Kuwait asks its nationals who are in Iraq to leave

30th August, 2022

Today, Tuesday, the Kuwaiti embassy in Baghdad urged its nationals to leave Iraq, and those wishing to travel there to postpone this due to the security conditions in the country.

And according to what was reported by the official news agency “KUNA”, “the Kuwaiti embassy called on its citizens who are in Iraq to communicate with it on the emergency phone, after the chaos in the capital, Baghdad and other provinces, and clashes between Shiite factions competing for power.”

The embassy also called on those who wish to travel to Iraq to postpone it due to the conditions in the country.  LINK

Iran closes the land border with Iraq

30th August, 2022

The Iranian Ministry of Interior announced, on Tuesday, the closure of the land borders with Iraq, against the backdrop of security tensions in central and southern Iraq.

The semi-official IRNA news agency quoted Iranian Deputy Interior Minister for Security and Law Enforcement Affairs Majid Mirahmadi as saying, in the wake of developments, unrest and the imposition of a curfew in several Iraqi cities, the land borders of the Islamic Republic of Iran and Iraq have been closed until further notice.

He also asked visitors to the holy shrines and those who intend to travel to Iraq not to go to the land borders, indicating that news and additional information will be announced by the Ministry of Interior.

LINK

Because of the ban, the Iraqi Stock Exchange suspended its activity

30th August, 2022

The Iraq Stock Exchange announced today, Tuesday, that it has suspended its activity as a result of the curfew.

The market said in a brief statement received by Shafak News Agency, that “the market will not organize the trading session today, because it is an official holiday.”

The market organizes five trading sessions a week from Sunday to Thursday, in which 103 Iraqi joint stock companies represent the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism, hotels and services.

On Monday, the Joint Operations Command announced a comprehensive curfew in all governorates of Iraq until further notice

And the Iraqi Prime Minister, Mustafa Al-Kazemi, directed, on Monday evening, to suspend the official working hours for tomorrow, Tuesday, in all governorates of the country, and to continue the comprehensive curfew, against the background of recent developments and clashes in the Green Zone.

LINK

The Iraqi authorities decide to lift the curfew in Baghdad and the provinces

30th August, 2022

The Iraqi authorities decided today, Tuesday, to lift the curfew in Baghdad and the provinces, less than 24 hours after it was imposed yesterday

The Joint Operations Command said, in a brief statement, received by Shafak News Agency, it was decided to lift the curfew in Baghdad and the provinces.

For his part, Iraqi Prime Minister Mustafa Al-Kazemi said that Al-Sadr’s call to stop the violence represents the highest levels of patriotism and keenness to preserve Iraqi blood, noting that his speech bears a moral and patriotic responsibility for everyone to protect Iraq’s capabilities, stop the language of political and security escalation, and initiate rapid and fruitful dialogue to resolve crises. LINK

After al-Sadr put an end to the scene of confrontations, the features of the state return after a war that lasted “night and day”

30th August, 2022

After a day and a night of armed confrontations, at noon today, Tuesday, the features of the state returned to the fore again with its “absence” from the scene as a result of the spread of weapons and war inside the Green Zone.

At Al-Tayaran Square, as well as at the borders of Al-Jumhuriya Bridge leading to one of the gates of the Green Zone, Shafaq News Agency’s camera documented the features of two synonymous appearances.

The camera documented a collective chest movement to leave the Green Zone in response to supreme orders issued by the leader of the Sadrist movement, Muqtada al-Sadr, who set an hour for his supporters to leave the fortified area, to end the state of conflict that has been going on since yesterday, and this morning, before ordering a comprehensive withdrawal “armed and peaceful”, threatening in the event of non-compliance with his order to disavow “even from the current and in another position.”

With the entry into force of the hour set by al-Sadr, the features of the emergence of the state began near the Green Zone with the appearance of traffic men, as well as security men from the Baghdad operations leaders, working to open the movement of cars in a clear traffic scene after the end of the “forced” curfew that was imposed yesterday and lifted. Once the Sadr Conference ends and the battles end.

The security forces also raised concrete barriers at bridges and spread in the streets to secure roads and prevent any security breach, while municipality cadres removed waste, paving the way for the gradual return of life and the emergence of the features of the state again before yesterday Monday.

The General Traffic Directorate’s detachments and patrols began removing the concrete blocks in coordination with the Baghdad Operations Command, “the land-holding blocks”, and opening the roads that were closed. The directorate said in a statement that “now all roads are open to traffic.”  LINK

Developments in Iraq affect international oil prices

08/30/2022 08:20:42

Oil prices fell today, Tuesday, to reduce some of the gains made in the previous session.

The market fears that the central banks’ increase in interest rates will lead to a slowdown in the global economy and a decline in demand for fuel, while the violence in Iraq has affected prices.

Brent crude futures for October were down 75 cents, or 0.71 percent, at $104.34 a barrel by 03:48 GMT, after rising 4.1 percent on Monday, the biggest increase in more than a month.

US West Texas Intermediate crude was at $96.68 a barrel, down 33 cents, or 0.3%, after rising 4.2% in the previous session.

Inflation has approached double-digit territory in many of the world’s largest economies, a level not seen in nearly half a century, which could prompt central banks in the United States and Europe to resort to sharper increases in interest rates. However, political violence on Monday night in Iraq, the second largest producer in the Organization of the Petroleum Exporting Countries (OPEC), supported prices.

Saudi Arabia, the largest producer in the Organization of the Petroleum Exporting Countries (OPEC), last week also raised the possibility of production cuts, which sources said could coincide with increased supplies from Iran if it concludes a nuclear deal with the West.

OPEC+, which includes OPEC, Russia and allied producers, meets to set policy on Sept. 5.  LINK

Commerce sets the date for the launch of the 46th Baghdad International Fair

08/30/2022 07:26:50

The Ministry of Commerce has set the first of next November as the date for the launch of the 46th session of the Baghdad International Fair, with the wide participation of major local and foreign companies.

The Director General of the General Company for Exhibitions and Commercial Services in the ministry, Hammam Ahmed, said in a press statement that “the Baghdad exhibition in its 46th session will start for the period from 1 to 10 of next November, with the wide participation of major local and foreign companies.”

The Baghdad Fair was considered a “platform for commercial companies and the signing of contracts,” noting that “it represents a major economic phenomenon that the capital Baghdad witnesses annually, in terms of the large participation of companies in various specializations.”

The 45th session of the Baghdad International Fair concluded last year with a wide participation of 17 countries and more than 700 local and foreign companies from various sectors and specializations. LINK

Source: Dinar Recaps


Samson » August 30th, 2022

American companies want to return to Russia from the window

30th August, 2022

The Yeni Safak newspaper, which is close to Turkish business circles, reported that American companies that left Russia due to the situation in Ukraine are looking for a way to secretly return to the Russian market through Turkey.

The newspaper said: “Many American companies want to circumvent the sanctions imposed by the West on Russia, and in doing so they offer some Turkish companies the implementation of the common business in return for a certain commission.”

The newspaper quoted Turkish businessmen as saying that the number of these offers from American companies has increased in recent months.” The newspaper asserts that American companies operate along the road between Russia, Turkey, Dubai and the United States, and through it buy goods from Russia.

The article said: “Many international companies headquartered in the United States, using their subsidiaries located in Dubai free zones, to carry out this business. American companies that make such joint business offers to Turkish companies, resort to this method to cover their losses in Russian market.  LINK

Source: Dinar Recaps

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