BondLady’s Corner

  In Bondlady’s Corner

More Iraqi News Monday PM 8-31-20

TLM724 Administrator BondLady’s Corner

Goldman Sachs Expects The Recovery In Oil Prices To Gain Momentum In 2021

16:25 – 31/08/2020  Information / follow-up.  Goldman Sachs expects Brent prices to rise in 2021 thanks to greater scarcity in the oil market, as the economic recovery from the recession caused by the Coronavirus gains momentum thanks to the possibility of a vaccine.

Goldman Sachs expects Brent prices to rise to $ 65 a barrel in the third quarter of 2021, and to average $ 59.40 during the year.

“It is important for prices to remain steady in the spot market despite the stalled withdrawal of inventories this summer,” the bank said in a note dated August 30th, “the continued rise in long-term contract prices.”

He added that the rise in long-term contract prices reflects improved growth prospects for next year.

Brent prices have rebounded strongly since they plunged to their lowest level in more than 20 years in April thanks to production cuts from the Organization of the Petroleum Exporting Countries and its allies (OPEC +), and as many economies began to ease lockdown measures.

“There is a growing possibility that a vaccine will be available on a large scale starting next spring, which will contribute to supporting global growth and demand for oil, especially jet fuel,” the bank said.

The bank expected demand to rise by 3.7 million barrels per day from January to August next year.

He expected supplies to decrease in 2021, as OPEC + is likely to keep its production quotas unchanged in the second half of 2020, while the recovery of shale oil activity remains limited.

OPEC + reduced the volume of production cuts to 7.7 million barrels per day this month from a record level of 9.7 million barrels per day, equivalent to ten percent of global supplies, between May and July 2020 to help strike a balance between collapsing supply and demand. 25 S.   https://www.almaalomah.com/2020/08/31/492633/

Representative Agriculture Calls For Accelerating The Construction Of Dams And Providing The Necessary Quantities For Agricultural Plans

Editing date: 08/31/2020 12:59 • 62 times read  {Baghdad: Where News} The Parliamentary Committee on Agriculture, Water and Marshlands called for speeding up construction of dams to reclaim large areas of land and provide the necessary quantities for agricultural plans.

The head of the committee, Salam Al-Shammari, said in a statement received by “Ayna News” that “the situation in Iraq and the neighboring countries of Turkey and Iran is characterized by volatility in seasonal and annual revenues, which negatively affects the agricultural plans.”

Al-Shammari added, “The period of high revenues is during the spring season and it does not serve the winter agricultural season nor the summer agricultural season. Therefore, the construction of dams is considered an urgent necessity.”

He explained, “The main goal of constructing dams is to secure and regulate the water needed for irrigation through summer and winter operating plans based on a central operating policy to meet the water needs throughout the year for all sectors that use water, especially the agricultural sector, which consumes up to 85% of the available water volume and secure certain quantities of water. Storage for the next year, in case the scarcity continues for a second year, for the purpose of securing the water needs with the minimum level for the agricultural sector and drinking water.

Al-Shammari stressed that “the generation of electrical energy generated by dams as clean electrical energy does not cause pollution to the environment, and this is what calls for continuing the construction of dams in general.”

He continued, “The construction of dams will provide abundant production of fish resources and the development of tourism for residents near the dams or citizens who wish to enjoy comfortable and attractive places.”   http://www.alliraqnews.com/modules/news/article.php?storyid=99221

Representative Legality: There Is No Specific Time For Passing The Election Law … Two Tracks In Front Of Parliament

Editing date: 08/31/2020 13:07 • 50 read times  Where’s News_ Baghdad  The Parliamentary Legal Committee confirmed, on Monday, that there is no specific time for the completion of the amendment of the election law, while it indicated that Parliament faces two tracks to resolve the election law.

According to the official agency, Hussein Al-Oqabi, a member of the committee, said, “The parliament faces two tracks, the first is unclear, and it is the multiple districts that need a demographic census and the number of houses and stores, and the other is to make the governorate one district and the highest candidate votes regardless of his losing or winning list.”

He stressed that going to the option of the highest-ranked candidate would accomplish the law within a week, while going to multiple constituencies would complicate matters, stressing the need to accelerate the settlement of the election law.

The Parliamentary Legal Committee had confirmed earlier, the existence of a rapprochement between the political blocs regarding the election issues, including the timetable and the preparation of logistical matters for conducting the elections, technical and completion of the offices of the commission.

http://www.alliraqnews.com/modules/news/article.php?storyid=99223

For The Second Month … Japan Does Not Import Oil From Iraq

Economy  Monday 31 August 2020 | 03:04 pm| Views: 130  Japanese government data showed, today, Monday, that Japan did not import oil from Iraq during the months of July and last June, while Saudi Arabia ranked first among OPEC countries in exporting crude oil to Tokyo .

The Japanese Ministry of Economy, Trade and Industry published a table saying that “Japan did not import crude oil from Iraq, which is one of the main founders of OPEC for the months of July and June. It constituted 2% of Japan’s imports for that month at that time . ”

He explained that “Saudi Arabia ranked first in oil exports to Japan, as it exported 3.631 million barrels for the month of June and 4.578 million barrels for the month of July, which constitutes 39.8% and 44.4% of Japanese oil imports, respectively .”

They pointed out that “the UAE came in second place with exports amounting to 3.201 million barrels for the month of June and 3503 million for the month of July, then Qatar came in third place, with exports amounting to 757 thousand barrels for the month of June and 788 thousand for the month of July .”

Japan is the third largest consumer of oil in the world after China and the United States, and depends on its imports of oil, gas and coal.   https://aynaliraqnews.com/index.php?aa=news&id22=138001

American Ambassador: We Hope That The Iraqi Parliament Will Not Reject The New Agreements Between Baghdad And Washington

Follow-up Monday, August 31, 2020 01:31 PM  The US ambassador to Baghdad, Matthew Toller, confirmed today, Monday, that the visit of Prime Minister Mustafa Al-Kazemi to Washington has given great impetus to the relationship between the two countries.

Tueller said in a telephone interview with a number of media outlets, that “Al-Kazemi’s meetings in Washington are an extension of what was held on June 11 by default, and we believe that the fact of the meetings shows the seriousness of both countries about the strength of the relationship between them,” noting that “Al-Kazemi’s visit gave a great impetus Of the relationship between the two countries. ”

He added, “Unnatural challenges facing Iraq ‘s economy due to Corona and the economic crisis, especially that the Iraqi economy is central and unable to attract foreign investment,” noting that “Al-Kazemi and Iraqi officials have shown their vision for economic reform, and America has shown its willingness to cooperate with Iraq in these efforts.”

He continued, “In addition to the Washington meetings, there will be trade and investment meetings in order to improve the environment for foreign companies to invest in Iraq, and we have signed an agreement for e-government, financial reform, expansion of the partnership in trade and the promotion and strengthening of trade between the two countries.”

He expressed his hope that “the Iraqi parliament will not reject the signed agreements because they serve the common interests in the relationship between the two countries,” adding that “the strategic framework agreement was ratified by the Iraqi parliament in 2008 and is in effect as a law and any agreements we make within this agreement, and we believe that everything we have done.” At this stage, it is consistent with the spirit of the strategic agreement. ”   LINK

Parliamentary Finance Stresses The Necessity Of Denying Rumors And Not Confusing The Economic Situation

08:50 – 31/08/2020  Information / private  The Parliamentary Finance Committee stressed the need to deny rumors and not to confuse the economic situation of the country, pointing out that the government must assure everyone that it will secure salaries after Parliament voted on the borrowing law.

Committee member Jamal Ahmed told “the information”, “The Al-Kazemi government should work to reassure the people about the issue of salaries, and banish the rumors that appear every month about the delay in paying salaries.”

He added that “the information and the assurances of the concerned authorities indicate that salaries are insured, especially if the government obtains the necessary funds to cover the operating budget through loans.”

He stressed the need not to confuse the market movement and the economic situation in the country by spreading rumors and lies about employee salaries, and the government’s inability to cover them. 25 n

https://www.almaalomah.com/2020/08/31/492531/

Integrity Seizes A Waste Of Nearly Two Billion Dinars In A Government Bank In Diyala

Today, Monday, August 31, 2020, the Federal Integrity Commission announced that nearly two billion dinars were seized in a government bank in Diyala Governorate.

In a statement received by Radio Nawa, the Commission’s Investigation Department stated that “the staff of the Diyala Investigation Office moved to the Agricultural Cooperative Bank – Hebheb branch, and were able to control the priorities of the agricultural loan that amounts to nearly two billion dinars granted to one of the borrowers,” indicating the bank’s director By lifting the seizure of seven out of nine real estate collateral taken for the benefit of the bank, despite the borrower’s failure to pay the loan amount and the deadline’s expiry.

The department added, “The staff of the office moved to the Directorate of Real Estate Registration in Diyala, and all correspondence between the bank and the Directorate was seized regarding lifting the reservations on the real estate guarantees of the borrower,” noting that “the loan amount is one billion and 780 million dinars, and that the amount that has been paid is 75 million JD only. ”

She explained that in the process that was carried out according to a judicial arrest warrant, a fundamental seizure report of the seizures was organized, and it was presented to the judge of the Punishment Court, which is specialized in integrity cases, who decided to issue an arrest warrant against the accused, the bank manager, and ordered the summoning of the records officer in the Directorate of Real Estate Registration in the governorate, according to the provisions of Article (340) of the Penal Code.   https://www.radionawa.com/all-detail.aspx?jimare=21751

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

https://www.bondladyscorner.com/