TNT
CandyKisses:
Land Acquired for $1.5bn Baghdad Golf Development
Arabian Business reports that Abu Dhabi-based property developer Eagle Hills has bought land in Baghdad for a $1.5-billion golf real estate project.
It says the Baghdad Golf Course and Spa will feature a world-class golf course, high-end residential neighbourhoods, a five-star hotel, and an exclusive resort club.
Eagle Hills was founded by Mohamed Alabbar, who also founded Emaar Properties, which developed projects such as the Burj Khalifa and the Dubai Mall.
Will employees’ salaries be released before Eid al-Adha?
Baghdad Today – Baghdad
An official source in the Iraqi Ministry of Finance revealed today, Wednesday (June 5, 2024), the possibility of distributing the salaries of employees before Eid al-Adha.
The source told “Baghdad Today” that “there is no trend so far regarding the distribution of salaries of Iraqi state employees before Eid al-Adha, corresponding to (16) June.”
He added that “the salaries of employees as well as retirees will be paid during the current month, on their normal date without any submission to do so, so there is no decision to do so by the Prime Minister or the Minister of Finance.”
The Iraqi government was often accustomed to paying the salaries of state employees before the holidays if the holidays coincided with the last days of the month, or if the date of payment of salaries coincided in the middle of the holidays, which prompted the government to pay salaries a day or two before their date.
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However, Eid al-Adha will start between 16 and 17 and end between 19 and 20, and the official working hours begin on Sunday, June 23, before the official salary date.
Iraqi-Saudi-Kuwaiti discussions in Riyadh
Shafaq News/ The Saudi capital hosted discussions that brought together Saudi Foreign Minister Prince Faisal bin Farhan, Iraqi Fuad Hussein, and Kuwaiti Abdullah Ali Al-Yahya.
The Saudi Foreign Ministry stated in a statement on the “X” platform that during the discussions, “ways were discussed to enhance and develop aspects of cooperation in many fields,” and “the ministers also touched on the importance of intensifying bilateral and multilateral coordination on issues of common interest.”
The meeting comes days after Prince Faisal bin Farhan met with Abdullah Al-Yahya in Kuwait, last Sunday, and issued an announcement about the outcomes of the second meeting of the Saudi-Kuwaiti Coordination Council.
The announcement said at the time that the two sides stressed “the importance of cooperation in the political fields and joint coordination at all bilateral, regional and international levels, and the crystallization of positions in a way that serves the common interests of the two sides, and in a way that brings security and stability to the two countries, their peoples, and the peoples of the region,” according to the Saudi Press Agency (SPA).
The last meeting between the Saudi Foreign Minister and his Iraqi counterpart was in the Chinese capital, Beijing, at the end of last May.
During the Beijing meeting, “ways to strengthen and develop relations in various fields were reviewed, in addition to discussing the latest developments in issues on the regional and international arenas, most notably the developments in the Gaza S---p and its surroundings and the efforts made in this regard,” according to SPA.
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President Rashid: Iran is a very important neighbor of Iraq and our relationship with it is good and strong
Baghdad Today – Baghdad
On Thursday (June 6, 2024), the President of the Republic, Abdul Latif Jamal Rashid, promised the Republic of Iran that it is a very important neighbor of Iraq, while noting that Iraq’s relationship with it is good and strong.
Rashid said in a television interview followed by “Baghdad Today,” that “Iraq has witnessed a remarkable transformation since the end of the hot phase of v------e and t-------m,” noting that “the country is currently witnessing security stability, peace and security in Iraq has become a reality now.”
“The international community has a duty to exert more pressure to recognize the right of Palestinians to self-determination.” , stressing “the need to stop the g------e committed every day against the Palestinian people.”
He pointed out that “the relationship between the federal government and the Kurdistan Regional Government is full cooperation.”
“Iran is a very important neighbor of Iraq and our relationship with it is good and strong and is being developed continuously in various fields,” he said.
Source: Dinar Recaps
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CandyKisses:
Gold boosts its luster after important data
Baghdad Today – Follow-up
Gold prices rose during trading today, Thursday (June 6, 2024), with the decline of the dollar and US Treasury yields in light of increasing bets that the US interest rate cut may begin next September, while investors await US nonfarm payrolls data.
By 0258 GMT, gold was up 0.8 percent at $2,373.31 an ounce, after rising one percent in the last session.
US gold futures rose 0.7 percent to $2,392.80.
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The dollar index fell 0.2 percent to hover around a near two-month low, and benchmark 10-year US Treasury yields remained near their lowest levels in more than two months.
Tim Waterer, senior market analyst at KCM Trade, said: “Buyers shrugged off the dollar today after weak data in the run-up to the release of nonfarm payrolls data that enabled the price of gold to boom.”
“The baseline outlook still looks constructive for gold as we approach possible rate cuts in the second half of the year. However, the $2,300 level could be trending lower if we get a strong reading for nonfarm payrolls specifically.”
US private sector hiring fell to a four-month low in May, adding to signs of a weakening labor market. Markets now await Friday’s nonfarm payrolls data for more indicators.
Low interest rates reduce the opportunity cost of holding the non-yielding metal.
Among other precious metals, spot silver rose 1.8 percent to $30.54 an ounce, platinum rose 1.2 percent to $1,003.95 and palladium gained 1.2 percent to $942.75.
Source: Dinar Recaps
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