Biden Allocates $653 Million To American Port Development Projects, 4 NOV

 Biden Allocates $653 Million To American Port Development Projects

Arab and international  Economy News - follow-up  The US Department of Transportation provided $653 million in grants to develop and improve forty-one seaports throughout the United States .

The grants are part of a trillion-dollar infrastructure investment included in a bipartisan law signed by President Joe Biden in 2021 .

Biden administration officials said that the projects that receive support will allow ports to meet larger shipping demands, in addition to reducing costs for consumers and improving worker safety conditions .

Transportation Secretary Pete Buttigieg said during a phone call with reporters that supply chain challenges, starting in 2021, have led to higher prices as the United States recovers from the Corona epidemic .

Buttigieg added that the goal of the projects is to improve port infrastructure so that it can withstand the types of shocks that the United States witnessed during the pandemic .

He said: “Our goal is to strengthen these supply chains in a sustainable way. Today’s announcement is another big step in this direction .”

The grants included $43.4 million to renovate a pier in Cold Bay, Alaska .

The Port of Long Beach in California will receive $52.6 million for various developments, including an extension of the rail network to help transport freight .

Thirty-two million dollars will be allocated to the Port of Newark, New Jersey, to rebuild the dock .

Views 32    Added 11/04/2023 - 4:45 PM   https://economy-news.net/content.php?id=37239

“The Dinar Is Stronger Than The Dollar.” The Hypothesis That Is Absent From Reality!, 4 NOV

 “The Dinar Is Stronger Than The Dollar.” The Hypothesis That Is Absent From Reality!

Special Sumerian  2023-11-04 | 2,091 views  Everything has become high because of the dollar, a dangerous trade recession that the country is experiencing, amid warnings of an economic slide that may worsen the situation in the coming days.

According to experts, traders affiliated with influential parties and entities are the only beneficiaries of the platform affiliated with the Central Bank, and the government must come out immediately and be honest with the people about the truth of what is happening.

By simple calculation, the Central Bank sells an estimated two hundred thousand dollars daily, meaning that the daily profits of speculators are estimated at forty thousand dollars, reaching their total monthly. One million two hundred thousand dollars, which is equivalent to about two billion Iraqi dinars net for speculators per month.   LINK

Iraqi Dinar🔥Exchange Rates Near To Cross The Finish Line Today 2023🔥iraq...

"COMMUNITY MEMBER BANK STORY" ,BY FRANK26, 4 NOV

 Frank26 

 [Community Member Bank Story] 

  I was in Philadelphia, I went to Chase to deposit money and decided to ask if they exchange foreign currency, the branch manager immediately had me talk to a private banker who set up an appointment for me and my husband to speak to a private banker in wealth management...

 we went yesterday we’re treated so nicely!  We were told they currently exchange Dong along with other currencies we hold.  She knew all about the IQD and we were told once it’s on OFX - FOREX and the rate changes to call and they will have everything set up for us to come in and exchange.

 A truly wonderful experience. The bank is in PA

Iraq Eyes Economic Diversification: New International Partnerships Extend Beyond Defense, 4 NOV

Iraq Eyes Economic Diversification: New International Partnerships Extend Beyond Defense

In a significant policy shift, the Prime Minister of Iraq, Mohammed Shia’ Al-Sudani, recently announced that the nation’s new international collaborations extend beyond defense and security. Al-Sudani emphasized that Iraq has blossomed into an attractive destination for global firms to invest and operate, particularly in the energy sector, signaling a rising tide of international confidence in the Iraqi economy.

Shifting Focus: Beyond Oil

Historically reliant on oil revenues, Iraq is now making strident efforts to diversify its economy. The government is actively courting foreign investment in sectors such as infrastructure, agriculture, and tourism, recognizing the untapped potential within these areas.

Energy: A Hotspot for Investment

Despite being a major exporter with one of the world’s largest oil reserves, Iraq is seeking to bolster its energy production and branch out into renewable energy. With abundant sunlight and wind resources, it offers an ideal location for solar and wind power projects, and is providing incentives and tax breaks to magnetize global investment.

Infrastructure, Agriculture, and Tourism: New Frontiers

Infrastructure remains a key concern, with many parts of Iraq still lacking basic services such as electricity, water, and transportation. The government is actively seeking international partnerships for these projects. Opportunities also abound in agriculture, with the government promoting investment in modern farming techniques to boost production and trim reliance on imports. Tourism, despite being hampered by years of conflict, is another sector being primed for investment, with new attractions and cultural events planned to draw in visitors.

Iraq: The Gateway to Asia and Europe

Al-Sudani’s announcement underscores Iraq’s strategic location, serving as a conduit for trade and investment between Asia and Europe. Already a member of the Asian Infrastructure Investment Bank, Iraq has inked agreements with several nations to boost trade and investment, while also courting European firms.

Prime Minister Al-Sudani’s announcement shows Iraq’s commitment to attracting foreign investment and diversifying its economy. The nation’s untapped potential, coupled with its strategic location, positions it as an attractive destination for trade and investment. With the right strategies, Iraq could become a significant regional player, contributing to a broader regional prosperity.

https://bnn.network/finance-nav/business/iraq-eyes-economic-diversification-new-international-partnerships-extend-beyond-defense/

Iraq is ranked third among the largest oil exporters to America, 4 NOV

Iraq is ranked third among the largest oil exporters to America

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

The administration's latest table showed that the average US imports of crude oil during the past week from nine major countries amounted to 5.645 million barrels per day, an increase of 392 thousand barrels per day from the previous week, which amounted to 5.253 million barrels per day. 

He added that Iraq's oil exports to America amounted to 351 thousand barrels per day last week, an increase of 169 thousand barrels per day from the previous week, which reached an average of 182 thousand barrels per day. 

He pointed out that most of America's oil revenues during the past week came from Canada at an average of 3,485 million barrels per day, followed by Mexico with an average of 1,004 million barrels per day, and oil revenues from Saudi Arabia amounted to an average of 294 thousand barrels per day, and then Brazil with an average of 168 thousand barrels per day.

According to the administration, the amount of American imports of crude oil from Ecuador is at a rate of 133 thousand barrels per day, from Libya at a rate of 106 thousand barrels per day, from Colombia at a rate of 74 thousand barrels per day, and from Nigeria at a rate of 30 thousand barrels per day, while no quantity is imported from Russia.  link

Iraq's Pressure for Re-Valuation | Exchange Rate in the Printed Gazette ...