TNT
Tishwash:
$3m allocated to Upgrade Iraqi Stock Exchange
As part of its financial reform efforts, Iraq’s Cabinet has approved the allocation of 4 billion dinars [$3 million] to the Iraqi Securities Commission for the modernization and maintenance of electronic systems used for stock and bond trading.
The project, exempted from standard government contract procedures, will be e------d in partnership with the U.S. company Nasdaq OMX. link
Iraq informs the United States of the imminent start of negotiations with Kuwait
Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein announced on Thursday that negotiations between Iraq and Kuwait will soon begin to resolve outstanding issues between the two countries.
This came during his meeting in Washington with the US Assistant Secretary of State for Near Eastern Affairs, Ms. Barbara Leaf, according to a statement issued by the Iraqi Foreign Ministry, which was received by Shafaq News Agency.
During the meeting, Hussein stressed that the recent meetings between the Iraqi and Kuwaiti delegations in New York pave the way for the start of a new round of negotiations.
He explained that dialogue is the best way to resolve pending issues, and that Iraq intends to begin these negotiations soon to reach final understandings.
Hussein also informed the United States of Iraq’s efforts to address these outstanding issues, noting the Iraqi government’s commitment to achieving tangible progress in these files in a way that contributes to enhancing regional stability.
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For her part, Ms. Barbara Leaf expressed the United States’ support for Iraq in its efforts to resolve regional crises, stressing the importance of dialogue in avoiding escalation and ensuring stability in the Middle East region.
According to the statement, the two sides agreed during the meeting on the need to continue diplomatic efforts to ease regional tensions and work to enhance joint cooperation between Iraq and the United States in various fields. link
Baghdad and Washington discuss enhancing joint cooperation in the fields of energy, oil and economy
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein discussed with the US Under Secretary of State for Management, Ambassador John Bass, and the Energy Affairs Officer, Ambassador Jeffrey Bate, enhancing joint cooperation in the fields of energy, oil and economy.
A statement by the Ministry of Foreign Affairs stated that Hussein met with John Bass and Jeffrey Bate on the sidelines of the ministerial meeting of the international coalition against I--S held in Washington. During the meeting, they discussed enhancing joint cooperation in the fields of energy, oil and economy, and continuing diplomatic efforts to maintain the stability and security of Iraq. The two sides also discussed the need to protect sea lanes to ensure the export of Iraqi and Gulf oil by securing these lanes.
According to the statement, the focus was on continuing the dialogue between Baghdad, Erbil and the oil companies operating in the Kurdistan Region of Iraq to ensure the resolution of disputes related to oil exports. The security situation in the region and the repercussions of the ongoing escalation and its impact on energy and oil sources were also discussed.
The two sides stressed the importance of continuing cooperation between the United States and Iraq to ensure that the country does not get dragged into any regional escalation, and to work to confront the economic challenges resulting from regional unrest.
For his part, Ambassador Bass welcomed Iraq’s participation in the tenth ministerial meeting of the international coalition against I--S, and the strengthening of efforts to combat t-------m. link
Baghdad and Washington discuss the need to protect sea lanes to ensure the export of Iraqi oil
Foreign Minister Fuad Hussein discussed with the US Under Secretary of State for Management, Ambassador John Bass, and the Energy Affairs Officer, Ambassador Jeffrey Bate, today, Thursday, the necessity of protecting sea lanes to ensure the export of Iraqi and Gulf oil.
A statement by the Ministry of Foreign Affairs received by “Al-Eqtisad News” stated that “Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein met with the US Under Secretary of State for Management, Ambassador John Bass, and the Energy Affairs Officer, Ambassador Jeffrey Bate, on the sidelines of the ministerial meeting of the international coalition against I--S held in Washington.”
He explained that “during the meeting, they discussed enhancing joint cooperation in the fields of energy, oil and economy, and continuing diplomatic efforts to maintain Iraq’s stability and security.”
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The two sides discussed the “necessity of protecting sea lanes to ensure the export of Iraqi and Gulf oil by securing these lanes.”
The statement added, “The focus was on the continuation of dialogue between Baghdad, Erbil and the oil companies operating in the Kurdistan Region of Iraq to ensure the resolution of disputes related to oil exports, in addition to discussing the security situation in the region and the repercussions of the ongoing escalation and its impact on energy and oil sources.”
The two sides stressed “the importance of continued cooperation between the United States and Iraq to ensure that the country is not drawn into any regional escalation, and to work to confront the economic challenges resulting from regional unrest.”
For his part, Ambassador Bass welcomed Iraq’s participation in the tenth ministerial meeting of the international coalition against I--S, and the strengthening of efforts to combat t-------m. link
Source: Dinar Recaps
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Total 140 days.. Financial costs of holidays in Iraq
Today, Thursday (October 3, 2024), economic expert Nabil Al-Marsoumi revealed the financial costs of holidays in Iraq, while confirming that their total is 140 days.
Al-Marsoumi said in a post on Facebook, which was followed by “Baghdad Today”, that “the total annual salaries of employees and others amount to 90 trillion dinars,” indicating that “the total number of Fridays and Saturdays is 104 days in the year.”
He added, “The total number of official holidays in Iraq, excluding special holidays, is 16 days, while the total number of unofficial holidays is approximately 20 days, while the total number of official and unofficial holidays is 140 days.”
The expert continued, “The number of actual working days per year is 225 days, while the daily cost of official and unofficial holidays, including Friday and Saturday, is 246 billion dinars,” stressing that “the annual cost of official and unofficial holidays is 34 trillion dinars.”
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He pointed out that “the annual cost of official and unofficial holidays, except for Friday and Saturday, amounts to approximately 9 trillion dinars, while the annual cost of unofficial holidays amounts to approximately 5 trillion dinars.”
He pointed out that “Iraq is the first country in the world in terms of official and unofficial holidays, and it is the highest in the world, while there are 8 official holidays in England and Wales.”
He believed that “both types of holidays cause huge financial losses to Iraq, especially the unofficial holidays that are granted for various reasons, including rain, high temperatures, and visits. This loss in unofficial holidays is equivalent to the annual budget of Syria,” recommending “limiting the authority to grant official and unofficial holidays to the Presidency of the Council of Ministers.”
Every year, on October 3, Iraqis celebrate the Iraqi National Day, which marks the declaration of Iraq’s independence from the British mandate and its accession to the League of Nations in 1932 link
Tishwash:
Iraq launches financial transfers in euros
The Central Bank of Iraq launched its financial transfers to Turkey in the euro currency.
This was announced during the reception of the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, the Ambassador of the Republic of Turkey to Iraq, Anil Bora Inan, with a delegation of representatives of Turkish banks operating in Iraq, according to a statement by the Central Bank of Iraq.
The statement indicated that the meeting coincides with the launch of financial transfers to Turkey, according to a new mechanism carried out in the euro currency and implemented within Turkey through its banks. This mechanism, which is being applied for the first time, will simplify trade coverage operations with high fluidity and speed.
The attendees discussed ways to provide the requirements of the new mechanism; in order to make it a success and accommodate the large number of transfers from merchants and the business sector.
The statement pointed out that the bank representatives expressed their readiness to implement the new mechanism and provide the regulatory and supervisory requirements in coordination with the international auditing company, and they also demonstrated their efforts in the context of expanding their channels with approved correspondent banks.
For his part; The Turkish Ambassador praised the efforts of the Central Bank in managing the process of transformation in foreign transfers, and the measures taken by the bank to organize and facilitate the transformation processes, praising his meeting with the Governor of the Central Bank of Iraq and the continuous and direct coordination between the Central Bank’s management and authorized banks, according to the statement. link
Source: Dinar Recaps
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