Iraq Stock Exchange suspended its activities for one day

[yota691]

 

Iraq Stock Exchange suspended its activities for one day

 

•  

 2020-12-31 07:15

 

Shafaq News / The Iraq Stock Exchange announced, on Thursday, that its activities will cease for one day on the occasion of New Year's Day.

The market said in a statement received by Shafaq News, that "based on the decision of the General Secretariat of the Council of Ministers considering Sunday as an official holiday on the occasion of the New Year, it was decided not to organize the trading session for that day."

The statement added, "The sessions will be organized as of Monday, the fourth of January, according to their official timing."

It is noteworthy that the Iraq Stock Exchange has used electronic trading and central depository systems since 2009 and seeks to launch the Internet trading system for investors, and organizes five trading sessions a week from Sunday to Thursday, and 105 Iraqi joint stock companies are listed in it representing the sectors of banking, communications, industry, agriculture, insurance, financial investment and tourism And hotels.

[steveh12]

Happy New Year Yota !!

[trident]

Iraqi Stock Exchange closed from now, until monday 4th January ....nice window of opportunity perhaps ... good timing.

[Jaygo]

17 minutes ago, trident said:

Iraqi Stock Exchange closed from now, until monday 4th January ....nice window of opportunity perhaps ... good timing.

Shabibi always said they need a 3 day weekend. 🤞

[Engine1]

Well the new year is at the beginning of a weekend so dont get excited if its 3 or 4 days that they will be down. 

[Karsten]

I have a feeling that with GE, Siemens, Daewoo getting to sign a Contract for the Port of Faw and all the other MOU's out there......These people coming to do the work and those in charge were given a rate.....Why else would any company sign up for projects to be paid with Useless Dinar at a Program Rate?

 

Maybe they will announce it at the Signing of Daewoo on Sunday.

 

Just thinking.

 

Karsten

[Half Crazy Runner]

40 minutes ago, Karsten said:

I have a feeling that with GE, Siemens, Daewoo getting to sign a Contract for the Port of Faw and all the other MOU's out there......These people coming to do the work and those in charge were given a rate.....Why else would any company sign up for projects to be paid with Useless Dinar at a Program Rate?

 

Maybe they will announce it at the Signing of Daewoo on Sunday.

 

Just thinking.

 

Karsten

I like that! So, they won’t be getting paid in US$$?

[Dinarrock]

HCR you are correct none of these companies are paid in dinar they are all paid in US Dollar. 

[Karsten]

50 minutes ago, Half Crazy Runner said:

I like that! So, they won’t be getting paid in US$$?

 

7 minutes ago, Dinarrock said:

HCR you are correct none of these companies are paid in dinar they are all paid in US Dollar. 

 

As I recall Article 8 or something else requires that Iraq pay these outside Contracts to be paid in IQD's and USD is not allowed to be used.

 

Karsten

[Dinarrock]

Possible but they are not Article 8 yet so everyone gets paid in US dollars which is what most contractors get paid in anyway no matter what country they have a contract in. Iraq gets paid for all of their oil sales in the petro dollars which is close to 85-90% of their GDP. The big thing with Article 8 also is they have to stop their MCP which also means negotiating contracts at different rates with say two different countries is a part of it. I can’t explain it correctly most likely but this doesn’t preclude them for paying contracts post RV in dollars which again is how they get 90% of their revenue paid to them in. 
 

Hope everyone has a Happy and Safe New Year!!

[Longtimelurker]

1 minute ago, Dinarrock said:

Possible but they are not Article 8 yet so everyone gets paid in US dollars which is what most contractors get paid in anyway no matter what country they have a contract in. Iraq gets paid for all of their oil sales in the petro dollars which is close to 85-90% of their GDP. The big thing with Article 8 also is they have to stop their MCP which also means negotiating contracts at different rates with say two different countries is a part of it. I can’t explain it correctly most likely but this doesn’t preclude them for paying contracts post RV in dollars which again is how they get 90% of their revenue paid to them in. 
 

Hope everyone has a Happy and Safe New Year!!

I thought MCP ended with article 8. Not very sure though.

[horsesoldier]

The only thing I’m sure of: I’m not sure of anything anymore   

[Longtimelurker]

13 minutes ago, horsesoldier said:

The only thing I’m sure of: I’m not sure of anything anymore   

So very true lol 😅

[boosterbglee]

100% sure..........I'm not sure!   😂

[Dinarrock]

1 hour ago, Longtimelurker said:

I thought MCP ended with article 8. Not very sure though.

That is correct they cannot go into Article 8 status until they end MCP.

[NWGUY]

Very interesting!  First they unfroze the 1190 rate, moved it to 1460, and now they are having a break at the CBI.  They have the needle moving finally, and I think they have some motive to revalue their currency, or at the very least ... let it float!    Thing certainly seem to lining up!!!

 

Go RV or RI Soon!!!   

[yota691]

13 hours ago, steveh12 said:

Happy New Year Yota !!

Happy New Year steveh12 and all of DV. May God Bless everyone in 2021

[yota691]

7 hours ago, Karsten said:

Maybe they will announce it at the Signing of Daewoo on Sunday.

That contract was sign yesterday...

[yota691]

THE IRAQ STOCK EXCHANGE STOPS ITS ACTIVITIES ON SUNDAY

Thursday, 31 December 2020 4:13 PM

 

 

 

 

Baghdad / National News Center -
The Iraq Stock Exchange revealed today, Thursday, that its activities have stopped for one day on the occasion of New Year's Day.

The market said in a statement that the "National News Center" agency received a copy, that "based on the decision of the General Secretariat of the Council of Ministers to consider Sunday as an official holiday on the occasion of the New Year, it was decided not to organize the trading session for that day."

The statement indicated, "The sessions will be organized as of Monday, the fourth of January, according to their official timing."

It is noteworthy that the Iraq Stock Exchange has used electronic trading and central depository systems since 2009 and seeks to launch the Internet trading system for investors, and organizes five trading sessions a week from Sunday to Thursday, and 105 Iraqi joint stock companies are listed in it representing the sectors of banking, communications, industry, agriculture, insurance, financial investment and tourism And hotels.