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Iraqi News and Highlights Monday PM 7-20-20

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A Rise In The Dollar In Iraq Today

Time: 7/20/2020 10:17:35 Read: 5,746 times  {Baghdad: Al Furat News} Foreign currency markets in Iraq recorded today, Monday, an increase in the exchange rate of the US dollar against the Iraqi dinar.

The selling and buying prices of the dollar in banking companies and offices are as follows:

The selling price of one dollar is 1242.5 dinars, or 124 thousand and 250 dinars per hundred dollars.

The purchase price of the dollar is 1232.5 dinars, or 123 thousand and 250 dinars per hundred dollars.

As for the prices of foreign currencies, gold and crude oil – until the preparation of this news:

The Euro The global price: 100 euros = 114.53

Sterling dollars The global price: 100 pounds = 125.40 dollars

The Turkish lira The global price: 100 dollars = 685.60 Turkish pounds

An ounce price Gold worldwide = $ 1809.40

Barrel of crude oil Brent = $ 42.90   a Barrel of US crude oil = $ 40.75    LINK

The Third Session Of The Iraqi-Saudi Coordination Council Concluded With The Signing Of A Memorandum To Submit Saudi Loans To Baghdad

The Iraqi-Saudi Coordination Council

money and business Economy News – Baghdad: The Saudi News Agency revealed that the Iraqi Ministry of Finance signed with the Saudi Fund for Development a memorandum to provide loans for a number of development projects in Iraq.

The agency said, in a news published today, the Iraqi-Saudi Coordination Council concluded the work of its third session today in Saudi Arabia, Monday, which came as an extension of efforts to strengthen relations between the two brotherly countries at the strategic level and cooperation in various fields and develop partnership between the private sector in the two countries and open new horizons of cooperation in Economic and development fields, deepening joint cooperation in important international and regional affairs, and protecting common interests .

The Iraqi side was represented during the works of the third session of the Council, a ministerial delegation headed by the Deputy Prime Minister of Iraq and Minister of Finance Ali Abdel Amir Allawi, and the membership of His Excellency the Prime Minister of Iraq, Minister of Planning, Minister of Oil, Minister of Health, Minister of Electricity, Minister of Agriculture, Minister of Youth and Sports, and Secretary-General of the Council Ministers, Undersecretary of the Ministry of Foreign Affairs, and the Ambassador of the Republic of Iraq to the Kingdom .

The Minister of Commerce, Dr. Majid Al-Qasabi, also headed the Saudi side during the course of the session, which was attended by the Minister of Energy, the Assistant Chief of General Intelligence, the Minister of Environment, Water and Agriculture, the Minister of Investment, the Chairman of the Board of Directors of the Saudi Fund for Development, the Minister of Education, the Minister of Industry and Mineral Resources, and the Minister of Transport, Deputy Minister of Interior, Deputy Minister of Finance, Deputy Minister of Economy and Planning, Governor of the General Authority of Customs, Governor of the General Authority for Foreign Trade, Secretary General of the Saudi side in the Saudi-Iraqi Coordination Council, Undersecretary of the Ministry of Foreign Affairs for Political and Economic Affairs, Undersecretary of the Ministry of Health for Public Health, and Ambassador Khadim The Two Holy Mosques to the Republic of Iraq, in addition to the President of the Saudi Business Council and a selection of Saudi businessmen .

The work of the council included holding a number of meetings, members of the Saudi-Iraqi Coordination Council, during which the meetings reviewed the most important developments of the council and the committees emanating from it, and the two sides agreed on a joint work plan that includes investment projects between the two countries, and a framework memorandum was signed between the Saudi Fund for Development and the Iraqi Ministry of Finance To provide loans to a number of development projects in Iraq, and a memorandum of cooperation in the health field between the two sides was signed to confront the Corona virus crisis and provide medical assistance to the Iraqi side in implementation of the directives of the Custodian of the Two Holy Mosques, may God protect him .

The council’s work also included holding many bilateral meetings between the two sides with the participation of the private sector in the Kingdom to discuss opportunities for cooperation in all fields and the development of strategic partnership between the two countries, where a number of priority investment projects were discussed between the two brotherly countries, and the two sides agreed on the executive plans of the agreements and memoranda of understanding Signed between them in the interest of the two countries, as they agreed to resume the committees emanating from the council and to resume the work of the specialized technical teams to discuss economic projects within the framework of the council .

The two sides also discussed the extent of the readiness of the border crossing “Jadidat Arar” as a prelude to its opening after verifying the provision of all the necessary requirements for that, with the two sides stressing the serious desire to advance bilateral relations and enhance cooperation in all fields to serve the aspirations of the governments and peoples of the two brotherly countries .

Number of views 135 Date added: 20/07/2020  http://economy-news.net/content.php?id=21110

Parliamentary Finance Announces That The Issue Of Salary Insurance Is Completely Resolved

money and business  Economy News _ Baghdad  The Finance Committee in the House of Representatives revealed, on Monday, the disappearance of the technical defect that caused delaying the salaries of employees last month, stressing that the salaries of this month are fully insured for all employees and some of them have acted before the blessed Eid al-Adha.

“The salaries of the employees for the month of July are fully insured, but we have not heard any notice by the Ministry of Finance that they can be disbursed before the blessed Eid Al-Adha holiday,” or committee member Abdel-Hadi Al-Saadawi said in a statement reported by the official “Al-Sabah” newspaper and seen by Al-Iqtisad News. Act according to the schedule fixed for each ministry.

Al-Saadawi attributed the delay in salaries during the past month to “a technical problem in approving the internal and external borrowing law, and delaying notifications from the Central Bank of Iraq and the Ministry of Finance to banks.”

Al-Saadawi pointed out that “the current month and the coming months will witness the payment of salaries according to the schedule fixed for each ministry.”

Number of views 37 Date added 20/07/2020  http://economy-news.net/content.php?id=21106

Domestic Product Between The Reality Of Demand And Willful Neglect

The observer of the economic affairs, Ali Hussein Nader

Protection of the local product is a slogan we have heard with for years, but unfortunately there is no actual movement towards this national wealth, which if taken care of correctly will Iraq emerge from any economic crisis and reduces the heavy dependence on import. If we want to protect the local product, we must follow Two basic steps:

First, control of border crossings; Because of which the Iraqi market is open to the endowment of bear goods, most of which are expired and which weaken the local product significantly.

Second: Support for owners of factories and private factories, most of which have been suspended since 2003 due to the security, economic and political crises that the country has gone through.

It is unreasonable for the owners of these laboratories to be able to equip and reopen them from direct or indirect support from the government. If this support occurs, a special economy will be produced for the country equivalent to the rentier oil economy and reduce dependence on oil as the only source of imports in the country. The local Iraqi product is a great wealth and key to exit from The current crisis.

Number of views 75 Date added: 20/07/2020  http://economy-news.net/content.php?id=21108

The Securities Commission Issues A Report On Market Performance

Market Economy News _ Baghdad  On Monday, the Iraq Securities Commission issued its report on trading activity in the Iraq Stock Exchange for the first quarter of this year, which included many indicators and financial data for all companies listed on the market in Iraq.

The Chairman of the Authority, Alaa Abdel-Hussein Al-Saadi, said in a statement, “Economy News” received a copy of it.

He added, “Although these results exceeded those of the last semester of 2019, there are many plans and procedures that the commission intends to take during the coming period once the body of the body is formed.”

He continued, that these plans and procedures “would increase these trades and increase the attractiveness of the financial markets in Iraq, leading to their development, which will certainly be reflected in the overall Iraqi economy, which possesses many unexplored constituents and reservoirs that constitute promising investment opportunities in the future.”

Number of views 27 Date added 20/07/2020  http://economy-news.net/content.php?id=21104

The Speaker Of The Kurdistan Parliament Stresses The Importance Of The Region And Baghdad Reaching A Balanced Agreement

Monday 20, July 2020 16:17 | PoliticalViews: 44  Sulaimaniyah / NINA / The Speaker of the Kurdistan Parliament stressed the importance of the region and the central government in Baghdad reaching a balanced agreement that serves citizens based on the Iraqi constitution.

The Kurdish media reported that, in its office in the Parliament Building, Riazwaz Fayek, a speaker of the Kurdistan Parliament, met a delegation from the National Union Bloc in the House of Representatives headed by Joan Ihsan.

During the meeting, they discussed the latest political developments and rapid rapid changes in Iraq and the region, as well as a discussion of general health conditions at the level of Iraq and the Kurdistan region.

For its part, the Speaker of the Kurdistan Parliament said that Baghdad is the strategic depth of the Kurdistan region, stressing the need for the region and the central government to reach a balanced agreement that serves the interests of the people of the Kurdistan region and supports the language of dialogue and mutual understanding on the constitutional benefits of the Kurdistan region.

https://ninanews.com/Website/News/Details?key=845073

Oil Expert For “Nina”: Oil Prices Will Rise To 50 Dollars Or More At The End Of This Year

Monday 20, July 2020 10:07 | EconomicalViews: 171  Baghdad / Nina / Oil expert Hamza Al-Jawahery suggested that oil prices rise to 50 dollars or more at the end of this year.

Al-Jawahiri said in a statement to the Iraqi National News Agency ( NINA ) that “oil prices are slowly heading towards an increase, and this depends on the market need, stressing:” The current reduction of (OPEC +) is enough to raise prices and stabilize them at an acceptable level. ”

He continued:” The Oil prices will reach $ 50 or more at the end of the year, and if the economy and business movement returns to normal after the embargo imposed by the countries because of the Corona pandemic, the prices will rise more than that. ”

The countries of the group are committed to reducing their oil production by 9.7 million barrels per day since last May, after the global demand for crude decreased by a third, provided that the cuts are reduced to 7.7 million barrels per day after this July, and until next December.

The suspension of travel, the imposition of curfews, and the suspension of work in many sectors of the world; To prevent the Corona virus from spreading, due to a decrease in fuel consumption and a decrease in the demand of oil importing countries, which led to a sharp drop in prices at the height of the peak of the virus in the past months. /    https://ninanews.com/Website/News/Details?key=844960

Expert: The State Treasury Will Be 15 Billion Dollars Annually If This Continues!

Economy  Monday 20 July 2020 | 04:23 pm| Views: 131  Economist Bassem Jameel Antoine confirmed today, Monday, that the state treasury will receive $ 15 billion annually if corruption continues to be fought in and out of the border outlets .

“If the war against corruption continues at the border crossings, Iraq will receive $ 15 billion annually during the coming period, ” Antoine said .

He added, “The closing of borders and the application of the customs tariff law contribute to increasing Iraqi domestic production very broadly, as it will prevent the entry of foreign goods into Iraq, which is similar to production in Iraq .”

He pointed out that “restoring the prestige of the state and the law to Iraq is the most important achievement of the government and it contributes to improving the economic vision of foreign investors to increase the volume of cooperation and open projects protected by law and the authority of the Iraqi state.”   https://aynaliraqnews.com/index.php?aa=news&id22=136523

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