BondLady’s Corner

  In Bondlady’s Corner

Iraqi News Monday AM 8-24-20

TLM724 Administrator BondLady’s Corner

Issue (4594) Of The Iraqi Newspaper Al-Waqi’a Issued On 24/8/2020

1- Decision issued by the Committee to freeze terrorist funds No. (32) for the year 2020.

2- Bylaw No. (2) of 2020 The First Amendment to the Bylaw of the Supreme National Authority for Accountability and Justice No. (1) of 2020.

3- Instructions No. (1) for the year 2020 specifying the uniforms and badges of the employees of the private security company and the signs and colors placed on their wheels.

4- Instructions No. (2) for the year 2020 to reward a policeman who has mastered a foreign language or more.

5- Instructions No. (2) for the year 2020 to facilitate procedures and transactions for the families of martyrs in the Political Prisoners Foundation.

Those wishing to acquire the Iraqi factsheet can refer to the Iraqi investigation department located in Salhiya / Haifa Street (Ministry of Justice building), and obtain the required number.

https://www.moj.gov.iq/view.5109/

Maritime Transport Records The Highest Monthly Revenue In Its History

Monday 24 August 2020  113  Basra / Saad Al-Sammak  The General Company for Maritime Transport recorded the highest revenue in its history during the months of May and June of the past, while the company is negotiating with major foreign companies to establish two commercial ships according to the latest innovations, designs and international standards.

The company’s director, Muhyiddin Abdul Razzaq, said in a statement to “Al-Sabah”: “The company was able to record a significant jump in its monthly revenues by 150% to reach more than 57 billion dinars for the months of May and June for the current year, compared to 22 billion dinars for the same period of last year”.

He added that “this increase in revenues comes thanks to the ministry’s directions and plans to expand commercial operations for maritime transport,” noting that “the company owns six ships of different capacities, including two ships to transport rice from countries of origin to the ports of Basra.”

Abdul Razzaq pointed out that “the financial product of the company contributed to the endeavor to negotiate with major foreign companies to establish two commercial ships according to the latest innovations, designs and international standards, as the details of which will be disclosed later.”  LINK

A Plan To Invest In Petroleum Products In The Country

Monday 24 August 2020  119  Baghdad / morning  The Oil, Energy and Natural Resources Committee in the House of Representatives expressed the existence of a plan to invest oil derivatives in the country. Committee member Sadiq Al-Sulaiti said

To “Al-Sabah”: “The country spent nearly 30 billion dollars over the 15-year life of the Ministry of Oil to import oil products that go for domestic consumption.”

He added, “This amount was supposed to be invested to develop the refineries sector and build new ones, to invest the raw material for crude oil and sell it ten times as much, but all this did not happen. Let us now pay a heavy legacy because of the lack of interest in this sector.”

He continued: “If we had a real investment in the refineries sector, we would not have suffered from any economic crisis in crude oil, and it could have been compensated for by the refineries and derivatives sector.”  LINK

The Sunni Endowment Sets The Date For The Reopening Of Mosques

Time: 08/24/2020 15:35:52 Read: 936 times  (Baghdad: Al Furat News) The head of the Sunni Endowment Bureau, Saad Kampash, announced, on Monday, the reopening of mosques to worshipers on the twentieth of next month.

A statement of the Sunni Endowment stated that “the head of the court held a meeting with the advanced cadre in the court and directors of endowments in the governorates of Iraq, in the presence of a group of scholars and sheikhs from the Iraqi Scholars Group, the Iraqi Fiqh Academy and Dar Al Ifta.”

He added, “The meeting was held after the Presidency of the Bureau submitted a request to reopen the mosques to the National Health and Safety Organization. During the meeting, a vote was taken on the decision unanimously by the attendees on the 20 of next month.”

On March 16, the Sunni Endowment Office in Iraq decided to close all mosques in the country due to the spread of the Corona virus until further notice, and “he raises the call to prayer while telling people that the prayer should be on their backs only.”   LINK

Integrity: Bringing In The Former Minister Of Electricity And A General Director In The Ministry After Preventing Their Travel

Time: 08/24/2020 14:20:17 Read: 2,002 times  {Baghdad: Al Furat News} The Federal Integrity Commission announced the issuance of a summon order against the former Minister of Electricity, Luay Al-Khatib and the General Director of the Administrative Department in the Ministry, indicating that the order followed a decision banning them from traveling. Twisted Evil

The Investigation Department of the Authority, and in its talk about the case it investigated and referred it to the judiciary, indicated, according to a statement received by {Al Furat News}, that “the Al-Karkh Investigation Court, which is specialized in examining integrity cases, issued a summon order for the former Minister of Electricity and the General Director of the Administrative Department in the Ministry, based on Provisions of Article (340) of the Penal Code.

She continued, indicating that “the details of the case indicate the existence of a suspicion of violations in the ministry’s contract with (82,555) daily wages without the need for their specializations, which cost the ministry’s budget an amount of (43,000,000,000) billion dinars per month, while the authority disclosed in mid-August that a travel ban decision had been issued. Against the former minister and the director general, against the background of the violations committed in the case.

The authority had announced “the formation of a field work team supporting the work of the central parliamentary investigation committee to review and audit contracts of the Ministry of Electricity, composed of investigators and auditors of its best competencies in Baghdad and the provinces, to follow this file.”  LINK

 

Their Thefts Are Estimated At About $ 300 Billion .. Will The Iraqis Accept Making Deals With The Corrupt?

Demonstrators are demanding accountability for the political class accused of corruption in Iraq. AP

Reports  Economy News – Baghdad  The Iraqis were divided over the calls of some politicians to conclude deals with the corrupt figures, who stole project funds and operational budgets in the country, which represent the return of up to 90% of the stolen funds in exchange for dropping all international lawsuits and prosecutions against them.

The size of corruption in Iraq is estimated at about $ 300 billion, as more than 4 thousand projects were halted, according to the Ministry of Planning, as a result of the theft of funds allocated to them after withdrawing financial advances without any significant action or very limited achievement.

Iraq ranks 162 out of 180 countries in Transparency International’s corruption indicators, and it is the sixth in the Arab world, and corruption is rampant in it despite its possession of oversight bodies, including the Supreme Council for Combating Corruption, the Integrity Commission, Parliamentary Integrity Committee, the Office of Financial Supervision, the Public Prosecution office, as well as the offices of public inspectors. Which was canceled last year by a parliamentary decision.

Iraq has witnessed large demonstrations since 2011 until now, calling for fighting corruption, but the matter is still without radical solutions, and there is no political desire to fight it. Because most of the rampant corruption in Iraq is covered politically.

Proposal details

A member of the Parliamentary Finance Committee, Jamal Cougar, recently presented a proposal to return the stolen Iraqi funds represented by returning 90% of it to the state treasury in exchange for dropping the charges against them. He said, “Returning the stolen money is a correct path that we support, in case there are serious steps from the government regarding this file, provided that It bears an actual confirmation from those accused of stealing public money by returning 80 to 90 percent of the money in their possession to the state treasury. ”

Cougar explained that “returning the defendants the bulk of the money they have in order to drop the charges brought against them is a sign of regret they feel,” noting that “the matter remains dependent on the defendants’ intention to return the money to the state treasury.” Suspect

But this proposal has faced a torrent of criticism from specialists in the issue of integrity, as it is a lifeline for the corrupt and the waste of great efforts by institutions that fight corruption in Iraq.

The Prime Minister, Mustafa Al-Kazemi, responded to this invitation, during his visit to America, specifically when he met with businessmen, saying that the government had held talks with a number of international legal institutions to track down the corrupt and corruption deals and hold responsibility for anyone who tampered with state funds, explaining that the government is working to reconsider the legislation To fill the loopholes that allow the corrupt to exploit.

Iraq has become a repellent environment for investors because of the rampant corruption in the joints of the state, and the investor is exposed to extortion and death threats if he does not give money to some political, partisan and armed parties. Suspect

Contrary to common sense

A member of the Parliamentary Integrity Committee, Jawad Al-Saadi, commented on this call, saying: “It represents support for and defense of money thieves, and it is not a rational logic to fight corruption,” noting that “the stolen money is the property of all Iraqis, and it is not the property of this person or a specific political party, and therefore All must be returned, and the corrupt will be punished. ”

Al-Saadi noted that “the Integrity Committee referred 10 days ago to the competent authorities regarding the waste of public money,” noting that “corruption is a major scourge that harms the country and everyone must support the competent authorities to eliminate it.”

On the other hand, the head of the Al-Nahrain Foundation to Support Transparency and Integrity in Iraq, Muhammad Rahim, said, “The goal behind these calls is to return the funds withheld from the corrupt in other countries to Iraq, and then steal them from the Iraqi state again under political pressure,” stressing That “this is a method of manipulation practiced by some corrupt parties in Iraq.”

And that “some electronic armies have recently begun to support this trend,” considering that “the corrupt’s acquisition of 10% means millions of dollars of the stolen money.”

He explained, “This call needs legal legislation, especially as the government has a strong will to fight corruption and work to recover this money.”  Source: Al Jazeera Net

Number of observations 72   Date of addendum 08/24/2020   https://economy-news.net/content.php?id=21575

Al-Qaddu: A Road Map Must Be Drawn Up To Get Iraq Out Of Its Crises

Monday 24, August 2020 13:00 | PoliticalViews: 124  Baghdad / NINA / Representative Hanin Al-Qaddo called for drawing up a roadmap to get Iraq out of its security, economic and health crises. “My invitation to the prime minister to meet with heads of parliamentary blocs and political forces in order to draw up a roadmap to extricate Iraq from the stifling security, economic and health crisis that it suffers from,”

al-Qaddu said in a statement, which the Iraqi National News Agency ( NINA ) received .

He added, “No party, alone, can lead Iraq to safety without the cooperation of the political parties. Iraq is in a state of chaos and statehood,” noting that “continuing in this uncontrolled situation will lead to the security situation getting out of control and the country slipping into unpleasant ones.” https://ninanews.com/Website/News/Details?Key=851864

Economist: Iraq Is On The Verge Of A Frightening Economic Collapse

Monday 24, August 2020 11:07 | EconomicalViews: 115  Baquba / NINA / Economic specialist Jamal Shaker warned of the collapse of the economic situation in the country as a result of the lack of real economic fundamentals.

Shaker, a member of the dissolved local council in Baquba, told the correspondent of the Iraqi National News Agency ( NINA ): “The Iraqi economy is totally dependent on oil resources without the presence of other supporting ingredients for the economy, and here lies the danger of the Iraqi economic situation, which is subject to gradual collapse without any plans.” Real advancement, “indicating:” Iraq is on the verge of a frightening economic collapse unless there are real treatments. ”

He added: “The near future may have more impact on the living reality of the citizen, and that foreign loans and the imposition of interest cannot be paid by the Iraqi economy,” calling on government agencies to activate economic resources by restoring life to closed factories, activating taxes, controlling border crossings and exploiting gas. Natural, expansion and increase of oil production, to get out of the crisis and the looming collapse. “/ Ended

https://ninanews.com/Website/News/Details?key=851814

Minister Of Planning: The Financial Resources Law Gives The Ministry A Good Space In Drawing Up And Directing Financial Policy In Iraq

Monday 24, August 2020 13:32 | EconomicalViews: 127  Baghdad / NINA / Minister of Planning Khaled Battal Al-Najm affirmed that the Financial Resources Law gives the Ministry a good space in drawing up and directing the financial policy in Iraq.

The Ministry of Planning said, in a statement received by the Iraqi National News Agency / NINA / a copy of it, “The minister chaired, today, a meeting that included the technical and administrative agents, the general directors of the government sectors and investment directorates, economic and financial policies, and the legal department.”

The minister stressed during the meeting that was devoted to discussing the draft instructions for implementing the Financial Management Law, that: “In light of the amendments that the law has witnessed, it should have been applied at the beginning of this year, but as a result of the circumstances that the country went through, its implementation was delayed.” “The law gives the Ministry of Planning a good space in drawing up and directing the financial policy in Iraq.”

The minister stressed the need to develop the operational policy into the concept of projects and components, in order to benefit from this concept in the maintenance of fixed assets of state institutions, which suffer from the absence or lack of financial allocations, which led to exposure of those assets, which include buildings, furniture and others, to a lot of damage And its exit from service. ”Al

-Najm pointed out that“ the Ministry of Planning is working to ensure that the instructions for implementing the Financial Management Law are commensurate with the ministry’s development mission by granting it broader powers in relation to the file of government investment projects, ”explaining:“ The required powers are that The Ministry undertakes the approval, allocation, release and financing of projects, with the aim of facilitating procedures and ensuring implementation within the timetables, timelines and finances for each project.

https://ninanews.com/Website/News/Details?key=851868

Oil Minister: Iraq Can Produce 5 Million Barrels Per Day And Will Not Import Gas In 2025

Energy  Economy News _ Baghdad  Oil Minister Ihsan Abdul-Jabbar expected to dispense with importing gasoline and rely on the local product by the end of 2023, while he revealed the intention to stop burning gas in oil fields during 2025.

Abdul-Jabbar said in a televised interview followed by “Al-Iqtisad News”, “The visit of the government delegation to Washington from the economic point of view was very good,” noting that “the discussion with some American companies to invest in the field of oil and gas had lasted for two years.”

He added, “The production capacity of Iraq at the present time amounts to 5 million barrels per day, and could reach 7 million barrels per day during the year 2025,” stressing that “there is no problem in the production capacity of crude oil.”

He added that “there is a tendency to resort to alternative energy after 2030, and not to rely on oil as a main source of energy,” noting that “the world will resort to alternative energy sources, which will reduce the demand for oil and gas during the year 2030.”

Abdul-Jabbar pointed out that “the licensing contracts have pros and cons,” indicating that they “maintained Iraq’s position as the second largest producer in OPEC.”

He explained, “Iraq’s contract with the American Chevron Company will make Iraq at the forefront of countries with energy,” noting that “Dhi Qar Governorate is currently producing about 200 thousand barrels per day, and we plan to increase it to about one million barrels per day, especially after the conclusion of new contracts.”

He emphasized, “The unemployed youth in Dhi Qar will be rehabilitated during the next three years and trained, in order to become qualified to work in the governorate projects during the year 2025.”

With regard to gas investment, the Minister of Oil pointed out that “80% of the gas projects are on the way to completion, with the exception of the Artawi project in Basra Governorate, as it is one of the giant projects in the field of gas investment,” stressing that “during the year 2025 we will not witness a gas burn in Oil fields, without importing gas from abroad. ”

Abdul-Jabbar said, “There are projects to produce high-octane gasoline to meet the local need, and importing gasoline may be dispensed with at the end of 2023.”

Earlier this month, the Oil Ministry, represented by the Oil Marketing Company “SOMO”, revealed its plan for the month of August to fully adhere to the (OPEC +) agreement in order to achieve the balance of the oil market.

In a statement, SOMO said that the plan is to make an additional reduction in compensation for what has not been achieved during the past months of the agreement’s life, up to 400,000 barrels per day during the month of August, in addition to the reduction stipulated in the agreement.

Number of observations 63 Date of addendum 08/24/2020  https://economy-news.net/content.php?id=21565

Oil Rises As Two Storms Approach The Gulf Of Mexico

Time: 08/24/2020 10:38:09 Read: 1,586 times  {International: Al Furat News} Crude oil prices rose, on Monday, as two storms approached the Gulf of Mexico, to stop more than half of oil production there, and amid optimism about the Corona virus after the US Food and Drug Administration allowed the use of blood plasma from recovered patients as a treatment option.

Brent futures rose 9 cents, equivalent to 0.2%, to $ 44.44 a barrel, by 06:34 GMT, and US West Texas Intermediate crude rose 9 cents, or 0.2%, also to $ 42.43 a barrel.

On Sunday, Hurricane Marco and Tropical Storm Laura hit the Caribbean and the Gulf of Mexico, forcing energy companies to withdraw workers from offshore platforms and halt oil production.

Producers cut 58 percent of offshore oil production in the Gulf of Mexico and 45 percent of natural gas supplies on Sunday. The region contributes 17% of total US oil production and 5% of natural gas production.

Edward Moya, senior market analyst at Oanda in New York, said: “Crude prices have risen because the twin troubles in the Atlantic could lead to massive disruptions to oil operations in the Gulf of Mexico.

He added, “But the oil gains are likely to be muted as the uncertainty related to the virus continues to cast a shadow over the outlook for crude demand.”  LINK 

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/