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Sun. AM TNT News Articles 10-2-22

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TNT

Samson:
The Iraq Stock Exchange stopped its activity for one day

The Iraq Stock Exchange announced, on Sunday, the suspension of its activity for a period of one day.

The market said in a statement received by Shafaq News Agency, that “based on the decision of the Council of Ministers to declare an official holiday for a period of one day on the occasion of the National Day of the Republic of Iraq, the market will not organize the stock trading session for tomorrow, Monday.”

He added, “The activity will be practiced after the official holiday and starting on Tuesday, October 4, according to its official timings.”

It is noteworthy that it organizes five trading sessions per week from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism, hotels and services. link

Tishwash:
The death toll from the demonstrations in Tahrir Square in Baghdad has risen to 63 demonstrators, 40 affiliates and officers

The Iraqi channel reported on Saturday that the death toll from the demonstrations that started on Saturday in Tahrir Square in the capital, Baghdad, rose to 63 demonstrators and 40 members and officers of the security forces.

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The channel quoted an unnamed Iraqi security source as saying that more than 40 members and officers were injured as a result of stones, Molotov cocktails and hunting rifles, while 63 demonstrators were injured, suffocated, as a result of rubber bullets, tear gas and stampede.

An Iraqi security source had announced – earlier on Saturday – that more than 27 demonstrators were injured by suffocation and others as a result of rubber bullets and tear gas canisters, as well as the injury of more than 24 members and officers during the demonstrations that the country witnessed.

It should be noted that Iraq suffers from a state of political impasse following the holding of the parliamentary elections in October 2021, the faltering formation of a new government in Baghdad according to the results of the elections announced on November 30, 2021, and the resignation of the Sadrist movement’s representatives (74 deputies) from Parliament on June 12 last, On July 25, the Iraqi “coordinating” framework put forward Muhammad Shia Al-Sudani as a candidate to head the Iraqi government, which was rejected by the supporters of the “Sadr movement” and stormed the Iraqi parliament in the heavily fortified Green Zone twice within three days, and announced an open sit-in at the parliament headquarters on July 30, 2022.

The political tension in Iraq increased after supporters of the Sadrist movement stormed the Iraqi government headquarters on August 29, 2022, hours after the leader of the Sadrist movement Muqtada al-Sadr announced his final retirement from political work and the closure of all institutions. Armed clashes and explosions took place inside the Green Zone in the center of the capital, which resulted in casualties; During which al-Sadr called for an end to the sit-in of his supporters inside the Green Zone in central Baghdad.   link

Economist: Printing a new currency has its advantages and disadvantages

The economic expert, Jalil Al-Lami, confirmed that printing a new currency has its advantages and disadvantages.

He told the National Iraqi News Agency ( NINA ) that the Central Bank of Iraq’s resort to thinking of printing a new currency of (20) thousand dinars aims to support commercial markets in the local currency and to activate these markets and increase the purchasing power of the citizen and apply the experience of neighboring countries with the diversity of monetary categories used by them.

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Al-Lami added that on the other hand, this step has many disadvantages, foremost of which is a rise in inflation rates, a rise in the prices of goods and services, and a decline in the value of the dinar against foreign currencies.

And the Governor of the Central Bank, Ghaleb Mukhaif, said in a previous statement: We are currently working on completing the design of a new currency of 20 thousand dinars, after a series of practical studies to unify the Iraqi currency, and it will be announced after completing its printing in the future. link

Abdul Hassan Al-Shammari: Printing a new currency .. Administrative corruption and waste of public money 

The economic expert, Abdul Hassan Al-Shammari, considered the intention of the Central Bank of Iraq to print a new currency in the category of 20 thousand dinars .. administrative corruption and waste of public money.

He told the National Iraqi News Agency ( NINA ) that printing a new currency is not economically feasible because the existing currencies are completely sufficient.

He continued, “The printing will cost hundreds of millions of dollars, and this is a waste of public money.”

Al-Shammari considered that the purpose of printing is to put the name and signature of the new governor only because the currencies in circulation are in the names and signatures of other governors.

And the Governor of the Central Bank, Ghaleb Mukhaif, said in a press statement: We are currently working on completing the design of a new currency of 20 thousand dinars, after a series of practical studies to unify the Iraqi currency, and it will be announced after completing its printing in the future link

Source: Dinar Recaps

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