Iraqi Companies Record An Increase In Market Value During 2023 And Expectations Of The Entry Of “Foreign Portfolios”, 6 JAN

 Iraqi Companies Record An Increase In Market Value During 2023 And Expectations Of The Entry Of “Foreign Portfolios”

2024-01-05 Shafaq News/ The Future Iraq Foundation for Economic Studies and Consultations monitored an increase in the market value of companies listed on the Iraqi Stock Exchange by 20% during the past year to reach 18.66 trillion Iraqi dinars, higher than what it recorded at the end of 2022, which amounted to 15.56 trillion Iraqi dinars.

According to the institution’s statistics, the banking sector, which represents 50% of the total market value of listed companies, rose by 19.4% to reach 9.23 trillion dinars after it was at the end of 2022 with a value of 7,734, and this increase came as a result of the rise in the market value of the banks of Baghdad, the Iraqi National Bank, Al-Mansour Bank, and the Credit Bank. Its market value increased by more than 100% during this year.

At the level of the telecommunications sector, which represents 38% of the total market value of companies, it increased by 22.7% as a result of the increase in the market value of “Zain Iraq” by 25.8% and “Asiacell” by 18%.

In the industrial sector, which represents 5.6% of the total market value of listed companies, it rose by 13.8%, making the sector exceed the trillion dinars barrier for the first time, after it was at the end of 2022 around 915 billion dinars. This increase came as a result of the rise in “Pepsi Baghdad” company, which represents 76% of The total market value of industrial sector companies increased by 17.6%, but the market value of many industrial companies decreased, such as “Fallujah” for construction materials, and the Modern Construction Materials Company, whose value decreased by 41%, which affected the total market value of the sector.

While the hotels and tourism sector, which represents 3.36% of the total market value of listed companies, recorded an increase of 11.6%, bringing the market value of the sector’s companies to 627 billion dinars, after it was at the end of 2022 at a value of 562 billion dinars. This increase came as a result of a rise in the shares of Babel Hotels. Which represents 32% of the total companies in the sector, and whose market value increased by 7.5%, in addition to the increase in the market value of the “Palestine” Hotel, which represents 14% of the total market value of companies in the sector, which increased by 37.5%.

It is expected that companies listed on the market will witness an increase in 2024, especially the banking, industry, services and agriculture sectors. It is possible that the market value of the entire market in 2024 will exceed the 22 trillion dinars barrier, especially with the percentages of profits achieved by companies listed on the market, specifically in the banking sector, which is expected to increase. It will dominate the market more over the next year through the merger of a group of banks and also the demand to buy bank shares, most of which are below the fair value of the share.

It is expected that new companies will be listed that could contribute to increasing the demand for shares and thus increasing the market value of the market, as it provides an attractive investment environment that derives its strength from the strength of corporate profits, the high share price, weak competition in the market, in addition to the entry of new foreign portfolios into the market that contribute to increasing the market value of companies. included.  LINK

"RV UPDATE" BY MARKZ & MILITIAMAN, 6 JAN

 MarkZ & Militia Man   

 MarkZ:  There is no future for them without an improved exchange rate...  

Militia Man:  If they have a REER (Real Effective Exchange Rate) based on true values…from oil, natural gas, borders, tourism, taxes and tariffs…it’s going to be phenomenal…and that is what they are working on. I think everyone should be excited as we are watching it unfold. We should all have confidence that what we are invested in is coming to fruition. That is my belief…everything is very positive.

  Question:  What happens if they just print new notes and the dinar we hold are not good anymore?  

MarkZ:  That will never be accepted in the international world. You would have to have a closed economy to do that…like N. Korea. You cannot do that to the international world though.  

Militia Man:  We can clearly see the people behind this – the WTO, The IMF, The world Bank…the BIS, the Federal Reserve bank…The US, Canada, The UK…all kinds of countries hold dinar in their foreign reserves. Iraq cannot just say…”Sorry guys- we aren’t paying you” That is not going to happen. 

We are talking trillions. Look at the US- The US embassy in Iraq is one of the biggest in the world. One of our presidents said we are going to get paid back for this. They are planning big things over the next few months and need an exchange rate to match. Sudani has been moving on steroids to get this done.

Iraqi Dinar update for 01/05/24 - Kyles latest video and I was wrong abo...BY PIMPY

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Trade: Baghdad International Fair will include the participation of 20 countries and more than 800 international companies, 6 JAN

Trade: Baghdad International Fair will include the participation of 20 countries and more than 800 international companies

1/4/2023   Baghdad - INA - Hassan Al-Fawaz

The Ministry of Commerce confirmed today, Thursday, that the 47th edition of the Baghdad International Fair will include the participation of 20 countries and more than 800 international companies, while indicating that the exhibition halls are sold out.

 Director General of the General Company for Exhibitions and Commercial Services in the Ministry, Mustafa Al-Ani, told the Iraqi News Agency (INA): “Under the patronage of Prime Minister Muhammad Shia’ Al-Sudani, the 47th edition of the Baghdad International Fair will be opened in a few days and under the supervision and follow-up of the Minister of Commerce, Atheer Al-Ghurairi, after... Completing the required preparations in the exhibition’s pavilions and corridors.”

He explained, "This session will be different from the previous one, as 20 countries and more than 800 international and local companies will participate in it," noting that "this economic forum will have important repercussions on the economic reality in all aspects."

He added, "The Kingdom of Saudi Arabia participated with more than 140 companies, in addition to the fact that this session will include the participation of companies from countries that have not previously participated in Baghdad, such as the Czech Republic, Azerbaijan, and other countries," pointing out that "the number of reserved halls reached 17 halls, in addition to... The total rented space reached 20,000 square meters of indoor space and 4,000 square meters of outdoor space.”

He added, "The exhibition halls are completely exhausted with local and international participation, and this is happening for the first time since 2003," noting that "state institutions are present in this session, such as the Ministries of Industry, Health, Communications, Science and Technology, as well as the Ministry of Commerce."

He continued, "Guests from countries at the level of ministers and ambassadors, senior officials in the Iraqi state, and senior businessmen and industrial sectors will be present at this session."

He stressed, "The international session of the Baghdad Exhibition comes within the framework of the government's interest in Iraq's openness to the countries of the world and the region, as this forum will constitute an important reflection in Iraq's economic and industrial reality and is an opportunity to exchange experiences and meet the market's need for goods, services and expertise offered by international and local companies."   LINK

"RV UPDATE" BY SANDY INGRAM, 6 JAN

  Sandy Ingram  

 What would it take for the Iraqi dinar to strengthen against the US dollar?  The answer lies in economic development and stability.  The Development road project...aims to boost Iraq's GDP by improving infrastructure, fostering foreign investment and stimulating economic growth... With the right steps and sustained growth the dinar's narrative can only get stronger.

 The Iraqi dinar is not on the Forex market, yet.  The Iraqi dinar is an exotic currency, as is the Vietnam dong... Currencies are traded in pairs on the Forex Market.  The 3 main types... majors, minors and exotics...The more liquid an asset the easier and more efficient it is to turn it back into cash.  Major currency pairs have the highest trading volume... Exotic currencies...are not traded that often.  There is little technical analysis or data available to support trading decisions for exotic currencies...

Iraq's Dinar✅ A Tale of Two Currencies (Re-denomination & Reinstatement)...

Boosted by Iraq... OPEC production increased last December, 6 JAN

 Boosted by Iraq... OPEC production increased last December

Shafaq News / OPEC oil output rose in December, a Reuters survey found on Friday, as increases in Iraq, Angola and Nigeria offset ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market.

The Organization of the Petroleum Exporting Countries pumped 27.88 million barrels per day (bpd) last month, the survey found, up 70,000 bpd from November. Output is down more than 1 million bpd from the same month a year ago.

The boost comes ahead of further OPEC+ cuts in 2024 and Angola's exit from OPEC, which are set to lower January output and market share. OPEC's market share has already been falling due to output restraint and the departure of some members.

In December, the biggest increases of 60,000 bpd came from Iraq and Angola, which both boosted exports, the survey found.

Nigeria also shipped more crude abroad without, as yet, beginning oil products output at its new Dangote refinery.

he Reuters survey, which aims to track supply to the market, is based on shipping data provided by external sources, Refinitiv Eikon flows data, information from companies that track flows such as Petro-Logistics and Kpler and information provided by sources at oil companies, OPEC and consultants.

(Reuters)

https://shafaq.com/en/Economy/Boosted-by-Iraq-OPEC-production-increased-last-December