Day: August 5, 2024

Iraq and the Russian Federation stressed the need to sign a land and sea transport agreement this year, which coincides with the 80th anniversary of the start of relations between the two countries.

A statement by the Ministry of Foreign Affairs stated that the Iraqi Ambassador to the Russian Federation, Haider Mansour Al-Athari, received the Russian Minister Undersecretary of Transport, Dmitry Stanislavovich Azverev, at the Iraqi Embassy building in Moscow, in the presence of the official in charge of land, air and sea transport at the Russian Ministry of Transport, Alexander Shatalin, and the two sides discussed future steps to sign agreements that enhance the interests of the two friendly countries.

The Russian side expressed its appreciation for the approval of the Iraqi Prime Minister’s office of the draft agreement, stressing his country’s readiness to follow up and study the draft project and move forward towards signing the agreement, noting that Iraq’s distinguished geographical location makes it a
global transportation corridor.

The two sides also discussed, according to the statement, ways of cooperation in the field of transportation in general and land transportation in particular, as the Russian side expressed its readiness to train Iraqi cadres at the Russian Transport Academy, and to receive Iraqi students wishing to study at the academy. The possibility of twinning between Iraqi and Russian universities was also discussed, and cooperation agreements were concluded between them.

Regarding cooperation in the field of land transportation, the Russian side expressed its interest in establishing railway lines within the “Development Road” project, and participating in investment opportunities in various fields of transportation in Iraqi cities, especially in the field of railways.

The two sides stressed, according to the statement, the necessity of signing a land and sea transport agreement during this year, which coincides with the eightieth anniversary of the start of Iraqi-Russian relations.

Source: National Iraqi News Agency

Ramallah – Ma’an – Bank of Palestine, in partnership with the Welfare Association, has contributed to providing potable water for hundreds of families affected and displaced in shelters in the northern Gaza Strip, who are suffering from water scarcity and an unprecedented crisis in the availability of drinking water. This is in continuation of the relief and humanitarian bridge established by the Bank of Palestine Group to provide relief to our affected people in the Strip.

This intervention is the twenty-eighth within the ongoing relief bridge since the beginning of the war, especially in light of the severe shortage that the northern Gaza Strip in particular suffers from in all emergency needs, and the loss of all the necessities of life in the Gaza Strip as a result of the ongoing war.

Bank of Palestine confirmed that its ongoing humanitarian and relief operations to support our people in the Gaza Strip have not stopped since the beginning of the war on the Gaza Strip, noting that these contributions fal
l under the umbrella of its relief and humanitarian program, and are implemented with a number of local and international partners.

The bank stressed that it will continue its relief efforts and provide aid to our people in the Gaza Strip, and contribute to meeting their needs and alleviating their suffering in light of the difficult conditions they are going through, so that they can emerge from their humanitarian crisis.

According to reports published by some international organizations, the citizens of the Gaza Strip are suffering from dehydration and disease amid unsanitary conditions due to the severe shortage of potable water. The average amount of water that the people of the Strip receive is only about 2 liters of water per day, which is much less than the minimum required per person per day according to the standards of humanitarian work in emergency situations, which is about 15 liters to cover drinking needs and limited domestic use.

It is worth noting that the Bank of Palestine Group, through a
number of local and international institutions, continues its humanitarian interventions to provide relief to our affected people and displaced families since the beginning of the war, including launching a program to sponsor 20,000 orphans in the Gaza Strip in partnership with the Welfare Association, in addition to providing thousands of hot meals, food parcels, mineral water bottles and health parcels to thousands of displaced people, in addition to providing winter supplies for families and children. Urgent financial assistance was also provided to patients in the Strip in hospitals in the West Bank, Jerusalem and Jordan, and recreational activities and psychological support were implemented for women and children in shelters.

Source: Maan News Agency

Bethlehem Ma’an – Observers expect the dollar to cross the 4 shekel threshold, in the event of a wide-scale conflict in the region, in addition to financial fluctuations in world markets.

Amid market turmoil and security tensions in Israel, the Tel Aviv Stock Exchange opened down nearly 3%, and the foreign exchange trading week opened with another decline in the shekel, trading around 3.83 shekels, and the euro is approaching 4.2 in the last 10 days, and the local currency has lost about 5% of its value.

The expected offensive response by Iran and its allies, and if Israel responds, and the war expands, will certainly lead to the dollar exceeding the 4 shekel mark, and the euro may reach about 4.30 shekels.

If the security escalation is delayed, we will actually see some compensation in the rise in foreign currency prices due to the shekel marathon by exporters and manufacturers every month to pay salaries and bills to suppliers in shekels, according to Yedioth Ahronoth.

After the Israeli currency weakene
d last week, the dollar and the euro rose this morning. The euro jumped 1.5% against the shekel and is trading near 4.2 shekels, and the dollar, which weakened against other currencies in the world after weak US economic data published over the weekend, is also rising against the shekel, but at a lower rate of 0.3%, to trade this morning at 3.83 shekels.

In just 10 days, the shekel has lost about 5% of its value. On July 25, its representative rate was 3.65 shekels, and this morning, it is trading at about 3.82 shekels.

Source: Maan News Agency

Manama, This week’s BD 70 million issue of Government Treasury Bills has been oversubscribed by 215%.

The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain (CBB), on behalf of the Government of the Kingdom of Bahrain.

The issue date of the bills is August 7, and the maturity date is November 6.

The weighted average rate of interest is 6.39% compared to 6.61% in the previous issue on July 31.

The approximate average price for the issue was 98.410% with the lowest accepted price being 98.407%.

This is issue No. 2029 (ISIN BH00069G9127) of Government Treasury Bills. With this, the total outstanding value of Government Treasury Bills is BD 2.110 billion.

Source : Bahrain News Agency

Amman, Khaled Hneifat, Jordan’s Minister of Agriculture, announced a policy to restrict tomato export and increase imports to local markets. This gradual approach will continue until exports are halted if the current trend of decreasing tomato imports and rising market prices persists.

This decision aims to ensure a sufficient supply of tomatoes for local consumption. The Ministry of Agriculture has observed a reduction in imported tomato quantities and a corresponding increase in market prices, Petra reported.

The decrease in tomato imports to central markets has led to higher prices, attributed to the transition between production cycles and rising temperatures. The ministry anticipated that by mid-August, the market would stabilize with regular quantities that meet or exceed local demand, resulting in a decrease in prices prior to that time.

Source : Bahrain News Agency

Manama, Bahrain All Share Index has closed at 1,931.24 points, marking a decrease of 20.09 points below the previous closing.

This decrease was due to the drop in the financial sector and the real estate sector.

Bahrain Islamic Index has closed at 782.85 points, marking a decrease of 24.76 points below the previous closing.

Results indicated that 124 equity transactions took place with a volume of 4,085,484 worth BD 769,166.

Investors traded mainly in the financial sector, representing 79% of the total value of securities traded.

Source : Bahrain News Agency