Reuters: Iraqi oil from Kurdistan to Türkiye will not flow soon
On Tuesday, Reuters announced that Iraqi oil exports through the Turkish port of Ceyhan will not resume.
The agency has announced that the resumption of Iraqi oil pumping to Turkey is not expected before October. In the meantime, Turkish President Recep Tayyip Erdogan is expected to visit Baghdad, after he postponed his initial visit in August.
On March 25th, Turkey halted export flows from northern Iraq. This decision was made after the International Chamber of Commerce ruled in an arbitration case that Ankara must pay $1.5 billion in compensation to Baghdad. The compensation is for allowing the Kurdistan Regional Government to pump oil exports without a permit between 2014 and 2018. The suspension of export flows has ended after 25 hours.
[via PDK] ...we are starting to see changes in bank values etc. But, not an open trade on them yet...We have seen this in the past and it’s our theory that they are preparing the process when we see those rate changes. Is this the one where they actually pull the trigger???...
The banker side has a lot of anticipation for late this afternoon...We have bank personnel keeping us abreast if any of these currencies become “tradable”...We will see what materializes. [post 2 of 2]
[via PDK] There are interesting things showing on currency converters…from the Forbes one to the EIX…. There are some interesting values showing on many of our currencies...
There are a lot of “inconsistencies” on currency calculators right now. We are seeing Bolivar made it up to .35 cents. (doesn’t mean you can exchange it right now) We tried... Dong rates have also been bouncing around...
Kaperoni
Article: "Tabaqchali: Banks to Fuel the Iraqi Market's Next Phase" A step to diversify Iraq's economy.
There are two possible scenarios for the Iraqi dinar. One of which is not good for us as investors, which is a redenomination/LOP also referred to delete the three zeros.
I believe much of this talk is just talk to curb speculation. This also could have been done years ago. The other option is to float the dinar which is the most logical option. Which allows the dinar to actually rise in value over time based on the growth of their own economic success, and increase in GDP. This is the most likely outcome.
Folks, just to inject some RV news. I am being informed by multiple sources that we are in a matter of hours but only a few days until this goes live so stay tuned and tuned to these rooms for any notifications, stay well and GOD bless you.
What I was hoping to express earlier is that we are right on the cusp of this happening, but no one has been given the time or date, but keep up the good work, please and say your prayers.
Greetings
Hernan
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TRANSLATE SPANISH:
Miércoles 06 Septiembre 2023
00:14 A.M. Hora TEXAS USA
Texas SNAKE: Dice
Amigos, solo para inyectar algunas noticias sobre vehículos recreativos. Múltiples fuentes me están informando que estamos en cuestión de horas, pero solo faltan unos días para que esto se active, así que manténganse alerta y conectados a estas salas para recibir cualquier notificación, manténganse bien y que DIOS los bendiga.
Lo que esperaba expresar antes es que estamos justo en la cúspide de que esto ocurra, pero a nadie se le ha dado la hora o la fecha, pero sigan alentados, por favor y digan sus oraciones.
If we had about a million Americans citizens all of a sudden came out millionaires instantly that would be a really good shot in the arm for America's structure wouldn't it? It would.
FIREFLY: They're telling us the official rate technically is 1132. They say in news about budget has words in it saying the exchange rate will be adjusted.
FRANK: The CBI told you this?
FIREFLY: Yes...And it will be retro to January 1st...
FRANK: This is Earth shattering. Powerful...If they lift the three zeros can you live with $1.13?
Question: "When the rate is released in Iraq will it go international at the same time?" Instantly it's everywhere. It will be national news. If there's a man on the moon, he'll read about it. If Hillary is on Mars, she'll know about it. Everybody, instantly. You'll wake up one morning and everybody will be talking about it. Everybody will be saying, 'You were right!' That's when it's going to get tough on you.
...They wanted from 2003 to now to come up with a fair number. My number would be $4.25. But...I'm not going to be greedy. As soon as I see that $3+ just like the rest of the Middle Eastern countries I'll jump on that man! Not all of it.
That's the beauty. Even if you only have 1 million dinars, exchange half and hold on to the other half. Calculate. You're going to need a team..lawyers...advisers...your pastors...your family...seek council, make right decisions. Because...you can only make this decision one time...
Tehran Chamber of Commerce touts $10 billion in exports to Iraq, eyes future market potential, 6 SEPT
Shafaq News/ The Tehran Chamber of Commerce revealed that its exports to Iraq in the past year have exceeded $10 billion, underscoring the growing economic ties between the two neighboring nations. Iranian officials also expressed optimism about Iraq's significance as a crucial market for Iran in the next 15 years.
The announcement was made during a symposium organized by the Chamber of Commerce titled "The Role and Function of the Media in Developing Economic Relations Between Iraq and Iran." The event focused on discussions about the future of bilateral relations and the role of economic diplomacy in strengthening economic ties.
Yahya Al-Ishaq, the head of the Joint Iranian-Iraqi Chamber of Commerce, emphasized the importance of economic diplomacy, describing it as the strategic use of financial tools to achieve political objectives and utilizing political tools to attain economic benefits for Iran.
Al-Ishaq highlighted the "profound connection" between economic research, trade strategies, and countries' overall development and security. He noted that these factors have enabled Iran to capture an impressive 80% of its foreign trade.
Regarding the specific trade relationship with Iraq, Al-Ishaq revealed that Iran exported goods worth $10.5 billion to Iraq during the past year. He further pointed out that both nations possess trade opportunities valued at an estimated $20 billion. Notably, he emphasized that the Iraqi market is poised to become increasingly important for Iran and other countries over the next fifteen years.
Iraq and Iran have close economic ties. Iran is Iraq's second-largest trading partner after Turkey.
Iran exports various goods to Iraq, including food, medicine, construction materials, and machinery. Iraq exports oil, gas, and agricultural products to Iran.
The two countries also have strong energy ties. Iran supplies Iraq with natural gas and electricity, and Iraq is a significant market for Iranian oil.
In addition to trade and energy, Iraq and Iran cooperate in other areas, such as transportation, tourism, and culture.
The close economic ties between Iraq and Iran are due to several factors, including their geographic proximity, shared history and culture, and common interests in regional stability.
However, the economic ties between Iraq and Iran are also a source of tension. The United States has imposed sanctions on Iran, which have harmed the Iraqi economy. The United States has also accused Iran of supporting armed groups in Iraq, which has further strained relations between the two countries.
Despite the challenges, the economic ties between Iraq and Iran will likely remain strong. The two countries are too interdependent to sever their financial relationship completely.
Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:
Black Stone Minerals, L.P. (BSM- Free Report) : This company that owns and manages oil and natural gas mineral interests has seen the Zacks Consensus Estimate for its current year earnings increasing 5.7% over the last 60 days.
Sierra Bancorp (BSRR- Free Report) : This bank holding company for Bank of the Sierra has seen the Zacks Consensus Estimate for its current year earnings increasing 9.7% over the last 60 days.
TIM S.A. (TIMB- Free Report) : This telecommunications company has seen the Zacks Consensus Estimate for its current year earnings increasing 16.1% over the last 60 days.
Camtek Ltd. (CAMT- Free Report) : This inspection and metrology equipment company has seen the Zacks Consensus Estimate for its current year earnings increasing 9.4% over the last 60 days.
Consolidated Water Co. Ltd. (CWCO- Free Report) : This operator of water production and water treatment plants has seen the Zacks Consensus Estimate for its current year earnings increasing 47.4% over the last 60 days.
