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Thurs. PM KTFA News Articles 1-12-23

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Henig » January 12th, 2023

US crude stocks drop global oil prices

Baghdad / NINA / – Oil prices fell today, Wednesday, giving up the gains of the previous session, after data in the sector revealed an unexpected increase in US crude and fuel stocks, which raised concerns about fuel demand.

West Texas Intermediate crude futures fell 59 cents, or 0.8%, to $74.53 a barrel.

Brent crude futures also fell 62 cents, or 0.8%, to $79.48 a barrel.   LINK

Including Iraq..Three countries will record the highest economic growth in 2023

Baghdad / NINA / – The World Bank expected, today, Wednesday, that three Arab countries, including Iraq, will witness the highest growth rate during the year 2023.

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In a report, the bank stated that “the growth of the countries of the region will decline during the current two years 2023 and the next 2024, to record 3.5% and 2.7%, respectively.”

Despite the decline in the economic growth of the Arab countries, the bank stated that “Egypt, the UAE and Iraq have the highest economic growth rate among the other Arab countries during the year 2023, as their growth is expected to exceed 4%, while the growth rate of the rest of the Arab countries will decrease to less than 4%.

The World Bank suggested that the economic growth rate for Egypt would be 4.5%, the economic growth rate for the UAE would be 4.1%, and the economic growth rate for Iraq would reach 4%.

It pointed out that “economic growth is likely to decrease for Iraq and the UAE during the year 2024, to reach 2.9% and 2.3% for both countries, respectively, while the economic growth rate for Egypt will rise to 4.8%.”

The World Bank pointed out that “oil-exporting countries obtained unexpected gains thanks to the rise in crude and gas prices and the increase in the volume of production, which was reflected in achieving an increase in gross domestic product at the fastest pace in nearly a decade.”

According to the bank, “the growth of the Arab oil countries, by themselves, will slow from 6.1% in 2022 to 3.3% this year, and to 2.3% next year.”   LINK

Iraq is the largest importer of Jordanian industries during the year 2022

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Baghdad / NINA / – Jordan announced today, Wednesday, that its industrial exports to Iraq amounted to 715 million Jordanian dinars during the year 2022.

The Jordanian Amman- Chamber of Industry said in a report: “The chamber’s exports to countries of the world during the past year 2022 amounted to 7.577 billion dinars, compared to 5.296 billion dinars in 2021.”

It added that “the exports of Jordanian industry products, which are spread in most regions of the Kingdom, reach more than 148 markets around the world due to the export of 1,400 various commodities.”

It indicated that “India, the United States of America, Saudi Arabia and Iraq acquired more than half of the Amman Chamber of Industry’s exports during the past year, recording a value of 3.936 billion dinars,” noting that “the exports of Amman’s industry to Iraq rose during the year 2022 to 715 million dinars, compared to 559 million dinars for the same period of the year 2021, with an increase of 28 percent.

It explained that “the Chamber’s exports during the past year 2022 were distributed among the mining, chemical, cosmetic, engineering, electrical and information technology sectors, in addition to the exports of the catering, food, agricultural, livestock and therapeutic industries, medical and leather supplies, and other industries.”   LINK

Clare » January 12th, 2023

Within a week, the Iraq Stock Exchange traded 37 billion shares, at a value of 22 billion dinars

1/12/2023

The Iraq Stock Exchange announced, on Thursday, that 37 billion shares have been traded, with a value of more than 20 billion dinars, this week.

During the second week of January 2023, the Iraq Stock Exchange organized five trading sessions, from Sunday 01/08/2023 to Thursday 01/12/2023.

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These sessions during this week achieved the following indicators:

1. The number of shares traded during this week amounted to more than (37) billion shares.

2. The value of shares traded this week amounted to more than (22) billion dinars.

3. The trading index in the market closed for the first session of the week at (588.47) points, while the index closed at the end of the week at (601.63) points, achieving an increase of (2.19%) from its closing at the beginning of the session.

4. During the week, more than (3800) buying and selling contracts were executed on the shares of the companies listed in the market.   LINK

The Iraqi Parliament ends its legislative recess and meets next Saturday. Document

1/12/2023

The Iraqi Parliament announced today, Thursday, the end of its legislative and direct recess, by holding its session next Saturday.

The Parliament’s media department published the parliament’s agenda, scheduled for eleven o’clock before noon next Saturday, and Shafaq News Agency reviewed it, and it included “taking the constitutional oath for some members of the House of Representatives, voting on new deputies in the permanent parliamentary committees, and discussing the draft law on communications and informatics And the draft law of the Fourth Amendment to the Industrial Investment Law for the private and mixed sectors.

The agenda also included discussing the report of the fact-finding committee on the information contained in the book of the Ministry of Environment, the Radiation Protection Center, on the presence of chemical radiation in the Dab fertilizer produced by the Southern Fertilizer Company, and the report of the Health and Environment Committee participating in the Conference of the States Parties to the United Nations Convention on Climate Change on climate change, as well as public discussions.

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And entered the Iraqi parliament, on the eighth of last December in the legislative recess for a period of 30 days.   LINK

Henig » January 12th, 2023

In Karbala.. the arrest of an accused who stole more than two billion dinars

Karbala Police Command announced the arrest of a suspect who stole more than two billion dinars belonging to an exchange office.

The police said in a statement, “Under the direction of the provincial police chief Major General Ahmed Ali Zweni, and with careful and distinguished security efforts, the detachments of the Anti-Crime Department were able to arrest an accused of stealing two billion Iraqi dinars from one of the exchange offices in the province.

She added, “The operation began after the Anti-Crime Department was informed about the presence of a suspect who had stolen an amount of money amounting to two billion and 240 million Iraqi dinars from a banking office. The police chief directed the formation of a work team from the aforementioned department and under the supervision of the Director of the Anti-Crime Department.”

And the police statement continued, “After that, the collection of sufficient information, careful investigation, and moving in a professional manner and continuous security efforts began with the aim of reaching the thief, while the accused of theft was reached, and within a record time, an arbitrary ambush was set up for him, and he was arrested.”    LINK

Source: Dinar Recaps

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