Monday, September 4, 2023
Sudanese Advisor: The Ownership Of The Railway Link Project Will Be 100% For Iraq, 4 SEPT
Sudanese Advisor: The Ownership Of The Railway Link Project Will Be 100% For Iraq
Information/Baghdad… Adviser to the Prime Minister for Transportation Affairs, Nasser Al-Asadi, confirmed today, Monday, that the ownership of the railway link project with Iran will be 100% in favor of Iraq.
Al-Asadi said in a televised interview, followed by Al-Maalouma Agency, that “the railway link agreement with Iran stipulates the transportation of passengers only,” pointing out that “the completion of the rehabilitation and development of the Shalamcheh crossing has become an urgent need.”
He added, “There are no secrets related to the railway link project with Iran,” noting that “the workforce in the project will be 100% Iraqi.”
And the Prime Minister’s Adviser for Transportation Affairs continued, “We do not know the reasons for the sensitivity of the railway link project with the Islamic Republic of Iran.”LINK
About $200 Million In Cash Sales Today From The Iraqi Central Bank
2023-09-04 Shafaq News/ The Central Bank of Iraq’s sales amounted to about 200 million dollars in the currency auction today, Monday.
Shafaq News Agency reporter stated that the Central Bank sold today, during its auction for buying and selling US dollars, 197 million, 727 thousand and 483 dollars, which the bank covered at a basic exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements of electronic cards, and at a price of 1,310 dinars per dollar for external transfers. Same price in cash.
Our correspondent added that most of the dollar sales went to enhance the balances abroad in the form of (remittances, credits), which amounted to 172 million 357 thousand and 483 dollars, while cash sales amounted to 25 million and 370 thousand dollars.
Our correspondent indicated that the number of banks that bought the cash dollar amounted to 7, while the number of banks that responded to requests for strengthening balances abroad reached 20, while the total number of exchange and mediation companies participating in the auction was 89 companies. LINK
"RV UPDATE" BY MARKZ & PIMPY, 4 SEPT
MarkZ
[via PDK] The WTO is big and it’s been percolating in the back since January. My sources told me years ago that when we saw them join the WTO- then it was done. They would have to be fully international for that.
via PDK] ...with the extended holiday this week between now and Thursday the indicators seem to be really coming together. We see that 1132 rate all the time behind the scenes...but the CBI has a different rate that is published.
[via PDK] Redemption folks working a few short hours tomorrow. That does not mean we are redeeming this weekend…but it’s a good sign... We continue to get good news from Iraq…They are on a holiday from now until Thursday. This would give them a tremendous opportunity … and a lot of chatter in Iraq that they are going to take this opportunity this week to put things into place...Many indicators from Iraq about next week.
Pimpy
Somebody reached out to me and said, 'Pimpy what do you think of this [Ebay] deal?' For $37 you get 5,000 dinar...5,000 dinar is equal to what? $3.80. Don't get caught up or trapped in that kind of thing. Make sure when you're buying dinars you're not spending a ridiculous amount of money higher than the actual value...
Article: "Record number of new firms seen in eight months" This is great news for Vietnam, their economy as well as their currency. As long as the economy continues to get strong we will see the exchange rate increase over the US dollar.
Deputy: The Railway Link Between Iraq And Iran Is A Mercy Shot At The Port Of Faw, 4 SEPT
Deputy: The Railway Link Between Iraq And Iran Is A Mercy Shot At The Port Of Faw
Posted On2023-09-04 By Sotaliraq Basra - Qusay Munther Laying the foundation stone for the rail link project between the Iranian provinces of Basra and Khorramshahr sparked reactions in favor and opposition to the government's step, amid a desire to complete the pending transportation and electricity projects with the Iraqi neighborhood. Independent MP Amer Abdul-Jabbar wrote on the XN website (the investment of the Arbaeen visit to lay the foundation stone for the project The rail link with Iran is considered as a mercy shot on the port of Faw.”
He added, “The need for 91 berths in the port will be eliminated, and it may be limited to 15 berths.”
According to reports, Iranian pressure continued on Iraq through the Minister of Transport, Rustam Qasimi, to link the two countries by rail, but that did not happen at the time.
During the ceremony, Al-Sudani welcomed (the Iranian Vice President and his accompanying delegation, and also appreciated the role of the Minister of Transport, the Governor of Basra, the advisors and the rest of the officials in the Ministry of Foreign Affairs, committees and ministries, for their exceptional efforts, to proceed with this great project),
pointing to (the importance of the railway link project in Transporting travelers and visitors to the holy shrines, from Iran and the countries of Central Asia, in addition to its importance in strengthening the infrastructure of the Iraqi economy and increasing its growth),
indicating that (the project has undergone years of discussion, and it was agreed to complete it between Iraq and Iran in 2021), and he pointed out that ( The railway link through Shalamcheh, is one of several links for transporting travelers and visitors to the holy shrines,
which is scheduled to reach the governorates of Najaf and Karbala). For his part, an informant conveyed (President Ibrahim Raisi's greetings to Al-Sudani, and praised the development plans initiated by the Iraqi government in various sectors). LINK
Statistic: Iraq Achieved The Largest Trade Surplus In 2022 Over A Period Of Ten Years
Money and business Economy News _ Baghdad Statistics conducted by the German company Statista, which specializes in market and consumer data, revealed that Iraq achieved the largest trade surplus for the past year 2022 over the past ten years.
The trade balance indicates the differences in imports and exports of goods in the country during the year. If the value of its exports during a period exceeds the value of its imports, it is called a surplus in the trade balance. If the total value of imports exceeds the total value of exports, it is called a deficit in the trade balance.
And the company stated in a table seen by Al-Iqtisad News that Iraq achieved the highest trade surplus for goods in 2022 over the past ten years, as the surplus last year amounted to $53.54 billion, up by 64% from 2021, which amounted to a trade surplus for goods in that period. The year is 20.08 billion dollars, indicating that Iraq achieved a deficit in its trade balance for two years, the first in 2020, when the deficit amounted to 4.11 billion dollars, and the second in 2015, when the trade deficit reached 0.94 billion dollars.
And he continued, “In 2019, the balance achieved a trade surplus of $16.62 billion, in 2018 the trade surplus reached $35.95 billion, and the trade surplus in 2017 reached $15.1 billion,” noting that the trade surplus in 2012 amounted to $35.39 billion.
Vietnam to host Biden visit and elevate US links amid rising China assertiveness in South-East Asia | Brisbane Times (9/2/23), 4 SEPT
Vietnam to host Biden visit and elevate US links amid rising China assertiveness in South-East Asia | Brisbane Times (9/2/23)
The United States and Vietnam are poised to significantly enhance their economic and technological ties, bringing the former wartime foes closer at a time of increased Chinese assertiveness in South-East Asia.
The deal, expected to be announced when US President Joe Biden makes a state visit to Vietnam next weekend, is the latest step by his administration to deepen relations in Asia.
For Hanoi, the closer relationship with Washington serves as a counterweight to Beijing’s influence.
The establishment of a “comprehensive strategic partnership” will give the United States a diplomatic status that Vietnam has so far reserved for only a handful of other countries: China, Russia, India and South Korea. The deal was confirmed by a senior Biden administration official and two people in Hanoi familiar with the matter.
Tightening the American relationship shows Hanoi is willing to risk angering Beijing but sees the move toward Washington as necessary given how aggressively China is flexing its military muscle in the region, analysts said.
“If you have the United States on the same pedestal as China, that is saying a lot to Beijing, but also to the rest of the region and the world,” said Derek Grossman, a senior defence analyst at Rand Corporation and a former US intelligence officer.
“That’s saying the US-Vietnam relationship has come a long way since 1995”, when the two countries normalised relations.
The agreement, proposed by the Biden administration in recent months, flows from a US strategy to build economic and security partnerships in the Indo-Pacific that can serve as a bulwark against Chinese economic and military coercion.
For Vietnam, it “serves both symbolic and substantive purposes”, said Le Hong Hiep, a senior fellow at the Singapore-based ISEAS-Yusof Ishak Institute.
The agreement is expected to lead to greater economic activity between the two countries, as the United States seeks to diversify its manufacturing supply chains away from China, and as Vietnam aspires to develop advanced technologies. American semiconductor firms have expressed “a willingness to support them in that ambition”, said a senior Biden administration official, speaking on the condition of anonymity because the agreement has not yet been announced.
The United States is now the top destination for exports from Vietnam, which has made a dramatic economic transformation over the past two decades.
VinFast, the country’s leading electric vehicle manufacturer, is now selling its sleek SUVs in California and recently held an initial public offering of its stock on Nasdaq.
American companies have likewise shown a willingness to do business: Apple and Google suppliers have invested heavily in new factories in Vietnam, and a major announcement is expected from Boeing, which said earlier this year that it intends to expand its footprint in the country.
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