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More Iraqi News Tuesday PM 10-6-20

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A Trade Conference Next Month To Increase US Investments In The Region

Time: 10/06/2020 13:34:29 Read: 1,430 times   (Baghdad: Al Furat News) The President of the Kurdistan Regional Government, Masrour Barzani, today, Tuesday, received Deputy Assistant Secretary of State for Iraq, David Copley.

A statement by the regional government stated that the two sides “discussed in the meeting attended by the US Consul General in Erbil Rob Waller the latest developments in the situation in Iraq and the region, and ways to consolidate relations between the Kurdistan region and the United States were discussed.”

The US Deputy Assistant Secretary of State for Iraq expressed his country’s readiness to strengthen relations with the Kurdistan region, especially in the commercial field, and to encourage American companies to increase their investments in the Kurdistan region.

Copley added that “a trade conference in this regard will be launched next month,” noting that “there are multiple investment opportunities for American investors in Iraq and the Kurdistan region.”

For his part, Barzani stressed that one of the priorities of the ninth ministerial formation of the regional government is based on diversifying the sources of the economy, developing the agricultural sector, protecting local products and providing the largest amount of facilities for local and foreign investors, and stressing the importance of settling problems with the federal government.

The Prime Minister said: “Solving the outstanding problems between the Kurdistan region and the federal government is an important factor in achieving stability in Iraq and the region.”   LINK

The Dollar Is Back On The Rise In Iraq … Learn About Prices

Time: 10/06/2020 11:52:48 Read: 7,735 times  {Baghdad: Al Furat News} The exchange rates of the dollar in Iraq resumed, today, Tuesday, after days of decline.

The Kifah Stock Exchange in Baghdad this morning recorded 1237 dinars for one dollar, or 123 thousand and 700 dinars for one hundred dollars, after yesterday’s record 1234 dinars on the same exchange.

In Al-Harithiya Stock Exchange, the dollar recorded 1237 dinars against one dollar, or 123 thousand and 700 dinars.   It is noteworthy that the exchange offices in Baghdad are the approximate price:

123,000 buy   124,000,   while in Erbil, the dollar also rose, as the selling price reached 1239 dinars, or 123 thousand and 900 dinars.   In Dhi Qar, the purchase exchange rate was recorded at 1235 dinars to the dollar, and selling at 1237.5 dinars.   LINK

The Stock Exchange Ends The Tuesday Session In Green

Iraqi Stock Exchange «Economy News»  Market  Economy News – Baghdad  The stock market ended Tuesday’s trading in green after declining in the two previous sessions.   The stock market index rose by 0.74%.

Shares of 9 companies provided by the name of the Gulf Bank rose by 7.69%, and shares of the Babel Hotel rose by 7.50%.   During the session, 1.37 billion shares were traded, worth 1.38 billion dinars.

Shares of 8 companies led by Al Ataa Bank decreased by 16.67% in today’s trading , and the Middle East Bank by 9.09%.   Number of observations 66 Date added: 10- 6-20  https://economy-news.net/content.php?id=22143

The Stock Exchange Stops Trading Next Thursday

The Stock Exchange «Economy News»  Market  Economy News – Baghdad   The Stock Exchange announced the suspension of its trading on Thursday 10/8/2020.

The Stock Exchange said in a statement seen by “Al-Eqtisad News”, that “the Iraq Stock Exchange will not organize the stock trading session for Thursday, October 8, 2020, based on the decision of the General Secretariat of the Council of Ministers to consider this day an official holiday for the existence of a religious occasion.”

The Stock Exchange confirmed the resumption of its sessions, which started on Sunday 11/10/2020.

Number of observations 66 Date added: October 6, 2020   https://economy-news.net/content.php?id=22136

Germany Allocates 2.4 Billion Dollars To Support Iraqi Special Projects

The headquarters of the German embassy in Baghdad

Money  and business  Economy News – Baghdad   The German embassy in Iraq announced that the German government has allocated 2.4 billion dollars to support projects in Iraq.

“Germany is strongly committed to supporting Iraqi efforts to develop a thriving private sector, because the private economic sector can create job opportunities,” said the German ambassador to Iraq, Uli Diehl, in his opening speech at a conference organized by the German GIZ organization, via the Internet.

“There is no economy in the world that can achieve and maintain a good level of wealth without entrepreneurs or competitive industries,” he said.

He stressed that “the German government has already allocated more than 2.4 billion dollars to support projects in Iraq,” with a date that “Germany will continue its support for Iraq.”

Iraq is experiencing a stifling financial crisis, as a result of the control of the public sector over economic activity, as well as the unilateralism of the economy that depends on oil revenues by 97%, according to the indicators of the Ministry of Finance.

During the two-day conference, participants discussed possible measures to address the current economic crisis, for example through digitization and digital transformation, a focus on agribusiness and the agricultural sector, as well as support for startups that could create new jobs.

They all agreed that economic reform and removing bureaucratic obstacles are essential requirements for diversifying the Iraqi economy and developing a private sector that can provide job opportunities and support long-term economic growth and flexibility.

Number of observations 88 Date added: 10/6/2020   https://economy-news.net/content.php?id=22142

The Industry Cancels The Decision To Distribute Cement To Employees Instead Of Salaries

Cement industry  Money  and business  Economy News – Baghdad  The Ministry of Industry announced, on Tuesday, that Minister Manhal Aziz directed the cancellation of a book requiring the distribution of cement to employees instead of salaries, and an investigation into that. Suspect

The ministry said in a statement seen by “Al-Iqtisad News”, that “the minister ordered the cancellation of the book of the General Iraqi Cement Company, which is directed to the North and South Cement Cooperative, number (6405) on 10/5/2020, and related to the distribution of cement material to the company’s employees as an alternative solution to delaying the payment of salaries. “.

He emphasized that “this behavior is the personal and un-thoughtful diligence of the company’s management without referring to the ministry’s center.”

The statement added that the minister “ordered the formation of an investigative council to immediately investigate this case, uncover the circumstances surrounding the issuance of the aforementioned book, take legal measures and punish the offenders and negligence.”

Number of observations 195, date of addendum 10/6/2020   https://economy-news.net/content.php?id=22130

Representative Economy: The Delay In Salaries Will Lead The Country To Recession And The Death Of The Private Sector

Money  and business  Economy News _ Baghdad  The Economic and Investment Committee warned, on Tuesday, that the delay in salaries will lead the country into an economic depression, and that it will kill the private sector, while noting that employees have monthly loans and obligations that cannot be violated.

Member of the Committee, Deputy Nada Shaker Jawdat, said in a press interview, “The government is required to disburse the employees’ delayed salaries by borrowing very quickly through government and private banks to cover the missing amounts.”

“The delay in salaries cannot continue, as it will lead to a major economic depression in the markets and contribute to the death of the private sector without any return,” she added.

Jawdat pointed out that “employees and citizens in general have obligations and loans that cannot be violated just because of the competition between parliament and the government over the borrowing law,” noting that “employees are not guilty of what is going on in political discussions or who is responsible because their obligations are imposed and cannot be ignored.” “.

Prime Minister Mustafa Al-Kazemi said yesterday from Dhi Qar that the employee salaries crisis will be resolved within 24 hours.

Number of observations 93 Date of addendum 10/6/2020   https://economy-news.net/content.php?id=22140

Central Bank Governor And Finance Minister Discuss The Repercussions Of The Financial Crisis

Pratha News Agency88 2020-10-06   Central Bank Governor Mustafa Ghaleb Mekhaif and Finance Minister Ali Allawi discussed the implications of the financial crisis the country is going through.

The central bank said in a statement, “The Governor of the Central Bank of Iraq received the Minister of Finance. During the visit, the repercussions of the financial crisis that the country is going through as a result of the decline in oil prices and its potential effects in light of the current economic indicators were discussed.”

The two sides stressed “the importance of increasing coordination between the monetary and financial policies, in a way that contributes to overcoming the crisis and reflects positively on stability and economic growth in Iraq.” http://burathanews.com/arabic/economic/377875

The Baghdad Post Tuesday, October 06, 2020 10:55 Am

Governor of the Central Bank discusses with the Minister of Finance the implications of the financial crisis in the country

Central Bank Governor Mustafa Ghaleb Makhaif discussed with Minister of Finance Dr. Ali Allawi the implications of the financial crisis that the country is going through as a result of the decline in oil prices.

The two sides stressed, according to a bank statement, the importance of increasing coordination between the monetary and financial policies, in a way that contributes to overcoming the crisis and reflects positively on the stability and economic growth in the country.   LINK

Minister Of Justice: The Electronic Mechanization Project Will Eliminate Corruption And Red Tape

Author: AhadNA3 On 6/10/2020 – 4:08 PM 10  Al Ahd News – Baghdad, Minister of Justice Salar Abdul Sattar Muhammad confirmed, today, Tuesday, that the project of electronic mechanization is considered a qualitative leap to keep pace with technological development.

“The Minister of Justice made an inspection visit to the Minors’ Welfare Department in the Ministry’s building, to see the project for the work of electronic mechanization,” the Ministry of Justice said in a statement that Al-Ahed News received.

The minister affirmed that “the electronic mechanization work project is considered a qualitative leap to keep pace with technological development because of its great importance in reducing the burden on citizens and achieving success and integration in the work that we seek in order to eliminate red tape and corruption.”

According to the statement, “The Director General of the Minors’ Welfare Department indicated that a system for archiving the files of minors, basic and real, and accounting for parents and guardians, and all permission transactions to protect the firsts from loss and damage, and to save them in the department’s data center.

She indicated that “the legal, audit and financial departments were equipped with a calculator through which the aforementioned information could be viewed without reference to the relevant directorate.”

https://alahadnews.net/117171/%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82/%d9%85%d8%ad%d9%84%d9%8a%d8%a7%d8%aa/

Parliamentary Finance: The Government Spent Borrowing Money Illegally

14:42 – 10/06/2020 Information / Special … The Parliamentary Finance Committee accused, on Tuesday, the government of illegally spending the internal and external borrowing funds.

A member of the committee, Abdul Hadi Al-Saadawi, said in a statement to / information /, that “the borrowing law that was voted on within the House of Representatives was sufficient to pay the salaries of employees in all ministries until the end of this year,” noting that “the Finance Committee is not concerned with the issue of salaries because it is from The exclusive powers of the government. ”

“The government has spent borrowing money outside of salaries in illegal ways, and it is the one who bears its responsibility,” he added.

Yesterday, Monday, the MP for the Alliance of Iraqis, Star Al-Jabri, revealed that a government team affiliated with Prime Minister Mustafa Al-Kazemi had fanned the streets and included employees of the demonstrators by delaying the payment of salaries to form an emergency government. 25 T.

https://www.almaalomah.com/2020/10/06/498656/

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