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The Stock Exchange sets a date for the conclusion of the 2020 sessions


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The Stock Exchange sets a date for the conclusion of the 2020 sessions

12/1/2020

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Economy News - Baghdad

The Stock Exchange has set, on the 24th of this month, the date for the conclusion of the sessions of this year.


The Stock Exchange said in a statement seen by "Al-Eqtisad News", that "based on what was approved by the Board of Governors and on the occasion of the approaching end of the fiscal year 2020, the last trading session for 2020 will be on Thursday, 12/24/2020."


The statement added: "The first trading session for the year 2021 will be on Sunday 3/1/2021 ..."

 

Edited by DWS112
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13 minutes ago, GregHi said:

This is true.. there is a Sunday on January 3rd, but not a Sunday on March 1st..

According to board of Governing decision the last session for 2020 it will be on Thursday 24/12/2020

and the first trading session for 2021 it will be on Sunday 3/1/2021.

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47 minutes ago, markb57 said:

wow, we've already jumped to march 2021.....same as last year, and the year before, and the year before........etc......

I think they just messed up the 3/1/21 date. It's not a Sunday but Monday. 1/3/21 is a Sunday, the beginning of the work week.

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29 minutes ago, Benelli said:

They post their dates as day/month/year.

 

 

exactly correct benelli , day month year format is the most widely used around the world , the entire time i've followed this fiasco iraq has used ( D-M-Y ) thought it was common knowledge , anyways pretty sure this comes up each year when iraq gives a stop / start date for the exchange end and begin the new year trading .... we wait cheers dv'ers 

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A cart inside the wholesale stock exchange in Mosul. "Internet"
  

 Reports


Economy News - Baghdad

Life has returned to the wholesale stock market in the city of Mosul, which used to be a major commercial station in the Middle East. Three years have passed since the terrorist organization "ISIS" took control of the region, but there is still a need for restoration of about two hundred shops bearing the effects of the devastating battles against "ISIS" "The terrorist.

The Stock Exchange Market is located in eastern Mosul and extends over an area of about two kilometers and has nearly 500 shops. Its main street and its secondary roads have been transformed into a workshop that rehabilitates the shops that were destroyed as a result of long months of battles between government forces and the terrorist "ISIS" that ended with the elimination of the latter in July 2017. .

Today, about 300 stores have restarted. Every morning, the owners open their iron doors, traffic returns at peak times, and trucks can be seen unloading huge cardboard boxes of goods here and there.

An economic researcher at the University of Mosul, Muhammad Nayef, says that the value of exchanges on the stock market before ISIS's control of the city in 2014 "ranged between 12 and 13 million dollars a month."

However, this number has now decreased to "between 8 and 10 million dollars due to city conditions and the migration of merchants and displaced persons", of whom a large part has not yet returned.

Many merchants and owners of large stores left the stock market after the military operations to find new places for their shops, whether in West Mosul or in other provinces and the Kurdistan Region, or even outside Iraq.

In the market that is returning to vibrant life, sales are on the rise, and with it the number of new jobs is increasing in a country where there are unemployed out of every five citizens, according to official figures.

Nayef expects the market to develop further and wider if the government compensates the owners of the damaged shops and homes.

Abdullah Ahmad Mahmoud (27 years) was among the first to return to the market, and the owner of the shop that sells cleaning materials says, "The market is now well received, and this is encouraged by the stability of the security situation in Mosul."

"The return of life to the market greatly contributed to the revival and reconstruction of the devastated areas surrounding it," said food merchant Obaidah Ahmed, 26, especially as he "provided many job opportunities for workers, porters, restaurant and café owners and others."

The market is surrounded by popular residential areas in eastern Mosul, which are Al-Zanjili, Sheikh Fathi, Pepsi Street, Al-Mashahida, Bab Sinjar and Al-Shifa, and life has begun to return to those neighborhoods.

The stock market was established in the early nineties, and at that time it consisted of small shops and stalls, but later it expanded to become the largest wholesale market that feeds small and sub markets in Nineveh Governorate, the third largest province in Iraq, and Mosul is its center.

The goods reach consumers through small shop owners who buy their needs from this main market. And the market was rebuilt with the potential of the shop owners

The merchant Yunus Abd Ali (50 years), who owns a food store who came to supply the goods, believes that the market has "almost recovered."

However, he believes that overcoming the effects of the war requires that "government agencies accelerate compensation for those affected in the region so that they can return to it again."

Many residents of Mosul submitted demands to the government to compensate for the damage to their homes, cars and shops, but few of them met a response within three years.

Industry in Iraq was almost completely destroyed after the US invasion in 2003. Agriculture does not represent only five percent of GDP, but it employs twenty percent of the workforce, and farmers face difficulties in promoting their goods.

The stock market gave way to farmers and industrialists to display and sell their products, after they had been struggling to transport and sell them in remote outlets.

Falah Khalaf Awaid (35 years old) says, "Opening the stock exchange stores reduced a lot of time and effort in displaying and selling our goods after we were selling them on the outskirts of Mosul."

As for the owner of the butchery, Walid Ghanem (32 years), he explains that "the opening of the market and the return of life to it solved our problems and brought us profits."

However, Ahmed Al-Shammari, a merchant, 42, points to the weakness of local production, which represents "only ten percent" of the supply. The latter is limited to "simple and handmade goods made locally, such as sponges, washing materials and brooms."

In addition to the economic crisis, Iraq suffers from the repercussions of the Covid-19 epidemic and the collapse of oil prices, which is almost its only resource.

Um Saad, 35, who supplies goods from the stock market to her food store in Ras Aljada, says that the stock market is very popular, but "the purchasing power is weak, and the salaries are delayed, which prevents people from buying."

Source: AFP

 
 
Number of observations 105   Date added 12/07/2020
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Iraqi Stock Exchange «Economy News»
  

 Market


Economy News - Baghdad

The stock market index rose in the Monday session, by 0.06%.

225.8 million shares were traded during the meeting, worth 334.1 million dinars.

10 shares contributed to the increase in the index, led by the shares of the Elaf Islamic Bank Company by 4.35% and the shares of Al Mamoura Real Estate Company by 2.63%.

Shares of 6 companies provided by the Islamic Al-Ataa Bank Company also decreased by 6.25% and the shares of the Elite Company for General Contracting decreased by 2.50%.

In turn, foreign investors sold 10 million shares, worth 10 million dinars, after executing eight deals on the shares of one company.

 
 
Number of observations 78,   date of addendum 12/07/2020
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calendar.png 12/13/2020
 
views.png 6569
 
 

Baghdad / Al-Mawred News

 

The Board of Governors in the Iraq Stock Exchange decided, Sunday, that the last trading session for the year 2020 will be on Thursday 12/24/2020, and that the first trading session for 2021 will be on Sunday 3/1/2021.

As for today's indicators, Taha Ahmad Abd al-Salam, Executive Director of the Iraq Stock Exchange, said in a statement that Mawazine News received a copy of it, that "the number of traded shares reached (1,031,499,522)  shares, while the value of shares reached (707,559,242) dinars."

He explained that "the price index  in today's session closed at (480.30) points, down by (0.29%) from its close in the previous session of (481.68) points."

Abdul Salam added, "Shares of (26) companies out of (105) companies listed in the market are traded, while the number of companies suspended by a decision of the Securities Commission for not adhering to financial disclosure instructions is (31) companies."

Pointing out that, "The number of shares purchased from non-Iraqi investors in the market reached (148) million shares, at a value of (141) million dinars, through the implementation of (70) deals on shares of  (5) companies."

He pointed out that the number of shares sold by non-Iraqi investors in the market was (17) million shares, at a value of (30) million dinars, through the implementation of (18) deals on shares of  (7) companies.

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 Articles
 

Samir Al-Nasiri

With an excellent initiative of the Securities Commission with its new administration, the work of the (Investor Day) conference, which was held under the auspices of the General Secretariat of the Council of Ministers, was concluded in Baghdad. In the presence of the Deputy Secretary General of the Council of Ministers, Dr. Farhad Neama Allah Hussein, Mr. Adnan Darjal, Minister of Youth and Sports, and a number of investors and experts in this field.
The holding of the conference coincides with the government's interest and its continuous work despite all the difficult circumstances that accompanied past and current governments to enhance the attractive environment for capital, by issuing a package of decisions and instructions that contributed to facilitating the work of investment projects and investors, in line with what the Prime Minister presented in his government program And his serious reform vision in the white paper, which aims to provide full support to investors in order to complete their projects according to the established timelines, to activate the investment sector, improve its environment, overcome investor problems, challenges and all obstacles, to expand a good environment for foreign investors.
Also, to continue coordination with the Securities Commission and with the various authorities concerned in this matter, based on the government's belief in supporting the private sector and investment, because of its impact on improving the economic reality and reducing unemployment rates among the youth.
The holding of the conference comes in accordance with the Securities Commission’s program to launch the custodian system in Iraq during the next year, diversifying financial instruments and providing protection for investors in a way that serves the national economy and encourages capital building in addition to the country's need to stimulate trading in securities and establish new joint stock companies. We hope that the Securities Commission, with its new administration, will be able to follow up the implementation of the conference’s recommendations, in a way that will contribute to achieving one of the goals of economic reform.

 


* An economic and banking advisor

 

 
Number of observations 172   Date of addendum 12/14/2020
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