Iraq Economic News and Points to Ponder Saturday Afternoon 10-28-23

Tlm724 Administrator Bondlady’s Corner

Rafidain Bank Launches An Electronic Reservation Form To Sell Dollars To Travelers

Economy | 10/28/2023   Baghdad - Mawazine News Al   -Rafidain Bank announced, today, Saturday, the launch of an electronic reservation form for selling dollars to travelers.

The bank stated in a statement, a copy of which was received by Mawazine News, that “it has begun receiving travelers’ requests through the electronic reservation form for selling the dollar to the traveler by entering the website.”

The bank called on those who want to register to “give the correct data, fill out the fields accurately, and ensure that the information is correct and do not neglect any field.” Ended 29/H

https://www.mawazin.net/Details.aspx?jimare=236983

Oil Rises 3% With Middle East Tensions... But Declines Weekly

Economy | 10/28/2023  Baghdad - Mawazine News  Oil prices rose about three percent, to the highest level in a week, amid investors’ concerns about the expansion of the conflict in the Middle East, which may cause disruption to global crude oil supplies.

By 1740 GMT, Brent crude futures rose $2.25, or 2.6 percent, to $90.18 per barrel. US West Texas Intermediate crude futures also increased $2.14, or 2.6 percent, to $85.35 per barrel.

The price difference between Brent and West Texas Intermediate crude is heading to reach its highest level since July.

For the week as a whole, Brent fell about two percent while West Texas Intermediate fell about three percent.

Although the developments did not directly affect supplies, fears increased that the conflict in the Gaza Strip could spread and disrupt supplies from major crude oil producer Iran.

Analysts from Goldman Sachs kept their expectations for the price of Brent in the first quarter of 2024 at $95 per barrel, but they added that the decline in Iranian exports may push core prices to rise by about five percent.    https://www.mawazin.net/Details.aspx?jimare=236970

Iraq's Oil Exports To America Rose Last Week

Energy  Economy News  The US Energy Information Administration announced on Saturday that Iraq's oil exports to America rose over the past week.

An administration table, seen by Al-Iqtisad News, showed that the average US imports of crude oil during the past week from nine major countries amounted to 5.253 million barrels per day, an increase of 278 thousand barrels per day from the previous week, which amounted to 4.975 million barrels per day.

She added that Iraq's oil exports to America amounted to 182,000 barrels per day last week, an increase of 55,000 barrels per day from the previous week, which reached an average of 127,000 barrels per day.

The table indicated that most of America's oil revenues during the past week came from Canada at an average of 3,387 million barrels per day, followed by Mexico with an average of 61 million barrels per day, oil revenues from Saudi Arabia amounted to an average of 436 thousand barrels per day, and then Brazil with an average of 221 thousand barrels per day.

According to the administration’s schedule, the amount of American imports of crude oil from Colombia is at a rate of 146 thousand barrels per day, from Ecuador at a rate of 92 thousand barrels per day, from Nigeria at a rate of 89 thousand barrels per day, and from Libya at a rate of 86 thousand barrels per day, while no quantity is imported from Russia. .

50 views 10/28/2023 - https://economy-news.net/content.php?id=37122

Iraq Achieves Sufficiency In 11 Industrial Materials

Reconstruction and Building    Economy News – Baghdad  The Ministry of Industry and Minerals announced today, Saturday, that it has achieved self-sufficiency with 11 products, stressing that all its producing companies apply the required quality standards, while revealing how to conduct checks on products and raw materials.

The Ministry's spokeswoman, Doha Al-Jubouri, said, "The Ministry has achieved self-sufficiency in several materials, namely (cement - soft drinks - juices - corn gypsum - sugar - mineral water - industrial salt - table salt - ice cream - aluminum cans for filling soft drinks and juices, Some veterinary vaccines.

She explained, “The potential of local energies is determined by market coverage, but there is no export, and if there is, it is in small quantities.”

She added, "All companies affiliated with the Ministry apply the required quality standards, in addition to periodic checks conducted by the Central Agency for Standardization and Quality Control."

He pointed out that “public producing companies carry out periodic inspection procedures for their production, starting from examining the raw materials to periodic inspection during the production stages to the final inspection of the finished product, and in the event of a deviation in the approved specifications, the product is either returned and the specifications corrected or destroyed, according to the nature of the product.” ".

She stressed, "The cement product produced in the factories affiliated with the Ministry in various governorates of Iraq is considered one of the best types of cement on the market, according to the testimony of the head of the Central Agency for Standardization and Quality Control.

In addition, the Ministry has other products such as distribution and power transformers, all of which are produced for the Ministry of Electricity and have high specifications." “There are very few malfunctions, compared to imported ones, in addition to the products of electrical cables of various sizes and electrical standards.” 98 views  10/28/2023 - https://economy-news.net/content.php?id=37130

The Rise In The Price Of The Dollar Against The Dinar In Baghdad Markets

Time: 10/28/2023 11:15:24 Read: 5,525 times   {Economic: Al-Furat News} Dollar prices rose today, Saturday, in Baghdad markets   The prices were as follows..

The selling price was 162,500 Iraqi dinars, while the purchase amounted to 160,500 dinars per 100 dollars.   LINK

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Provoking Points to Ponder From Daily Reflections For Highly Effective People: By Stephen Covey:

The Seven Habits are not a set of  separate or piecemeal psyche-up formulas -- In harmony with the natural laws of growth - they provide an incremental - sequential - highly integrated approach to the  development of personal and interpersonal effectiveness -- They move us progressively on a Maturity Continuum from  dependence to independence to interdependence -- p48-49

#1 Be Proactive
#2 Begin  With  The  End In Mind
#3Put First Things First
#4Think Win/Win
#5 Seek First To Understand Then To Be Understood 
#6 Synergize
#7Sharpen The  Saw 

Dependence is the paradigm of you -- you take care of me - you come through for me -- you didn't come  through - I  blame  you for the  results -- Dependent people need others to get what they want -- p49

Independence is the paradigm of I -- I can do it -- I am  responsible -- I am self-reliant -- I  can choose --  Independent people can get what  they want through their own effort --p49

Interdependence is the paradigm of we -- We can do it -- We can cooperate -- We can combine our talents and abilities and create something greater together -- Interdependent people combine their own efforts with the  efforts of others to achieve their greatest success -- p49

Effective Interdependence can only be built on a foundation of true independence -- p185

If we want to change a situation, we first have to change ourselves -- And to change ourselves effectively - we first have to change our perceptions  -- p18