Middle East stock markets react to escalating Palestinian-Israeli conflict, 10 OCT

 Middle East stock markets react to escalating Palestinian-Israeli conflict

Shafaq News/ Gulf stock markets experienced sharp declines on Monday amid growing concerns of a broader conflict in the Middle East following intensified clashes between Palestinian Hamas militants and Israel.

In Dubai, the benchmark index plummeted by 2.6 percent, marking the most significant drop since June of the previous year. Emaar Properties shares fell by 4.4 percent, and shares of Emaar Development Company experienced a five percent decline. Emirates NBD Bank shares dropped by 1.9 percent, and Dubai Islamic Bank faced a 3.3 percent decrease.

Abu Dhabi saw its benchmark index decline for the fourth consecutive session, closing 1.3 percent at its lowest since May. ADNOC Distribution lost 3.8 percent, and ADNOC Logistics and Distribution faced a 1.9 percent decrease. First Abu Dhabi Bank shares fell by 1.2 percent, and Abu Dhabi Islamic Bank shares dipped by 2 percent.

The Qatari index also experienced its fourth consecutive decline, closing down 1.7 percent. All stocks declined, with Qatar National Bank falling by 2.6 percent and Qatar Islamic Bank experiencing a 1.7 percent decrease.

In Saudi Arabia, the market showed a minor recovery from the previous session's losses, closing 0.2 percent lower after a significant 1.6 percent drop in the last session – the largest decline in ten months. The National Bank of Saudi Arabia fell by 2.2 percent, and shares of the Saudi Basic Industries Corporation (SABIC) faced a 1.8 percent decrease. Etihad Atheeb Telecom Company shares rose by 1.5 percent, and shares of Al Rajhi Bank, the world's largest Islamic bank in assets, increased by 1.2 percent.

The leading stock index in Egypt recovered slightly from the previous session's losses, rising by 0.3 percent. The finance and communications sectors supported the gains, with Commercial International Bank experiencing a 1.7 percent rise and Telecom Egypt shares increasing by 2.2 percent.

https://shafaq.com/en/Economy/Middle-East-stock-markets-react-to-escalating-Palestinian-Israeli-conflict

"RV UPDATE" BY FRANK26, BABYSMOM & RVALREADY, 10 OCT

  Frank26

  Question: "Are we at the point in this journey where the rate could be changed at any time?"  Yes.

You will get the HCL when the new exchange rate comes out.  When will the new exchange rate come out?  When they damn well feel like it.

Let's make sure we understand something about this bank [Walkingsticks friend Aki's bank in the US].  I don't want to call it a CBI bank.  I did that because in the beginning you needed a reference to relate it to so we said CBI satellite private banks.  But the reality, anybody can open a bank in the United States of America ...It's not so much they belong to the CBI, they work with the CBI.

 Babysmom 

  MOST RECENT ANTICIPATED OPENING RATES AS PER RAY [Guru RayRen98]  DONG .47 ...DINAR 3.81...

RVAlready 

 Many folks seem to be having favorable Bank interactions. No exchanges yet, but more bankers saying this is going to happen.

Iraqi Dinar🔥Opening Rates Iraqi Dinar $3.81 & Vietnamese Dong $2.25 Toda...

FRANK26 IQD UPDATE 10-9-23…..THIS IS THE MIDDLE EAST

Al-Sudani: The justifications for the American presence in Iraq have ended.. We do not need any forces, 9 OCT

 Al-Sudani: The justifications for the American presence in Iraq have ended.. We do not need any forces

10-8-2023

Al-Sudani - The justifications for the American presence in Iraq have ended.. We do not need any forcesInformation/private..

Today, Sunday, Member of the House of Representatives, Muhammad Saadoun Al-Sudani, considered the justifications for the American presence in Iraq to be “over,” while stressing the importance of Iraq’s recovery away from foreign forces.

Al-Sudani said, in an interview with the Al-Ma’louma Agency, that “Iraq, amid the major changes that have occurred recently in the region, must live independently, like the rest of the countries,” adding, “We want to have close relations with neighboring countries and the world.”

He added, “These relations must be built on the basis of mutual respect and non-interference in internal affairs,” indicating that “foreign and American forces are present in Iraq for a specific reason, and now these justifications have ended.”

The member of the House of Representatives explained, “Iraq must recover and take its role away from combat forces, whether the international coalition or American forces,” stressing that “the country currently does not need combat forces, trainers, or any foreign aid.”

The representative of the Sadiqoun parliamentary bloc, Rafiq Al-Salhi, had accused the American side of supporting terrorism to prolong the military presence in Iraq, calling on the government to announce a timetable for withdrawing those forces.

Earlier today, the Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that ISIS does not today represent a threat to the Iraqi state, and there is no longer a need for the international coalition, which was formed to confront these gangs.

almaalomah.me

What happened today in Baghdad banks? Dollar customers will not be patient any longer.. They will close their accounts - Urgent, 9 oct

  What happened today in Baghdad banks? Dollar customers will not be patient any longer.. They will close their accounts - Urgent

Journalists are prohibited from entering

For the second day in a row, chaos has prevailed in the branches of government and private banks in Baghdad, with large numbers of customers arriving to withdraw whatever amounts they can deposited in US dollars, amid fears of “banks exploiting depositors’ accounts,” according to a number of customers.

 Since Monday morning, customers have flocked to the branches of major and regional banks in the hope of withdrawing their dollar balances.

Most banks still refuse to hand over their balances to customers on the grounds of the lack of cash liquidity in foreign currency.

The media was prevented from covering the situation inside or near banks, with security tightened around most banks.

A number of customers describe the banks’ practices as “organized theft” with fears of “bad exploitation” of the balances of depositors and dollar account holders.

Customer trends were divided into three options: those who wanted to close their bank accounts, those who wanted to close them, and those who preferred to wait until the end of the year.

Those wishing to close their accounts hope that this step will force the bank to disburse the rest of their balances, while others seem more clear by demanding that their account be zeroed out and keep it open without a balance in the hope of using it if the situation changes.

Those demanding access to their dollar balances fear that the banks will postpone their disbursement in order to deliver them after the end of the current year in Iraqi dinars and at the official exchange rate, which means that depositors will lose a large percentage of the value of their deposits.

Customers who preferred to wait do not have large accounts or do not care about changing the value of their balances later, while awaiting a solution from the central bank.

source in one of the Baghdad banks:

We advised customers to wait a day or two while awaiting the arrival of an increase in our balances from the Central Bank, which today disbursed a new portion of them.

Number of bank customers:

The words of bank officials cannot be trusted. We have relied on them throughout the past period, and they have led us to where things are today.

The state must intervene to end the crisis. The dollar problem cannot be solved in this way, which raised the exchange rate in the market instead of contributing to controlling it. link

Evening News with MarkZ 10/09/2023

Monday Evening News with MarkZ 

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: GOOD EVENING ALL MARK z FAMILY AND SUPER MODS

Member: Can’t believe we are still waiting. After all the chatter about Sunday, etc. frustrating

Member: Iraq PM is meeting with Putin tomorrow.

MZ: Yes I have heard that….we don’t know what if anything will come from that. Luc oil is one of the biggest Russian oil companies and has a lot of holdings in northern Iraq. 

Member: How is the war affecting the RV…..is it now delayed???

MZ: I am told it may be a small speed bump but will not distract from it completely. Most of my sources think this is still our week. I sure hope so …I am tired..

Member:  We are all mentally and physically exhausted from this ….tired is an understatement….Come on RV!!!

MZ: Out of the CBI today. They are going to make certain the banks honor and pay out US denominated bank accounts when people want them.   Of course they want to get rid of them totally and soon. 

Member: Is Indonisian Rupiah still in the first basket?

MZ: I continue to hear it is still in the first basket.  And I continue to hear the rate will be $1.47. I hope it is accurate. 

Member: Rumored to be in first basket:   1. US 2. UK 3. Kuwait 4. Canada 5. Mexico 6. Russia 7. China 8. Venezuela 9. Iranian Rial 10. IRAQ 11. Indonesia Rupiah 12. Malaysia 13. Vietnamese 14. Brazil 15. Saudi Arabia 16. Qatar 17. United Arab Emirates 18. Turkey 19. Afghanistan possibly20. India 21. Libya 22. Japan23. Zimbabwe 

MZ: This is huge:  “ Breaking news- gold has surged in China –The Shanghai spot price is more than $112 dollars an ounce higher then levels seen in London” 

MZ: Just a reminder- I will be traveling tomorrow morning but plan on having the usual nightly podcast.  Mods can sleep in……lol

Member: Hope your flights are on time and on schedule….

Membr: Tomorrow is 10-10…..hope its a significant date…….

Member:  Miracles can happen suddenly. Have faith and pray

Member:  Your watching amazing progress happening...more than ever...hang in there...Our Worldwide RAINBOW is AHEAD

Member: Thank you and Safe travels tomorrow Mark….see you Tues night

Member:  hope to see you back stateside in a few days to exchange!!!

THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IS MARK’S OPINION ONLY.

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

REMEMBER GUYS! NO PODCAST TOMORROW MORNING! MARK WILL HAVE A NORMAL PODCAST AT 7:00 PM EST ! SAFE TRAVELS MARK! BE SAFE!