BondLady’s Corner

  In Bondlady’s Corner 

Iraqi News Tuesday AM 11-3-20

TLM724 Administrator BondLady’s Corner

Oil Continues To Rise In Light Of The US Elections

Pratha News Agency53 2020-11-03   Oil prices resumed their rise during trading today, Tuesday, in light of the presidential elections in the United States, as Brent crude rose above $ 40 a barrel.

The rise comes despite concerns about global oil demand due to the rise in coronavirus cases around the world.

Brent crude futures rose 3% to $ 40.14 a barrel, by 15:25 Moscow time, while West Texas Intermediate crude futures rose 3.31% to $ 38.03 a barrel.

The countries of the “OPEC +” group have reduced oil production since last May to support prices, and reduced the reduction to 7.7 million barrels per day last August. The group is set to reduce the cuts by two million barrels per day in January.   It is scheduled that “OPEC +” will hold its next full meeting on November 30 and the first of December.

Dollar Prices Are Dropping In The Iraqi Market

Pratha News Agency114 2020-11-03   The exchange rates of the dollar on the main stock markets decreased slightly, while it stabilized in the local markets on Tuesday (November 3, 2020).

The Kifah Stock Exchange recorded 125,100 dinars against 100 US dollars, while the exchange rate of the dollar on Monday recorded 125,200 dinars per 100 dollars.

As for the exchange rate rates in the local markets, they were:

Sales price: 125,500 dinars per $ 100.   Purchase price: 124,500 dinars per $ 100.

The exchange rates in Basra Governorate were recorded at 125,200 dinars per $ 100.

While the exchange rates in Sulaymaniyah Governorate were recorded at 125,550 dinars per 100 dollars.

Economist: The Government Has Demanded Astronomical Expenditures For The Next Two Months

Pratha News Agency58 2020-11-03   Economic expert Majid Al-Suri revealed, on Tuesday, the existence of employee salaries amounts, indicating that the government had demanded astronomical expenditures during the next two months within the borrowing law.

Al-Suri said in a statement to / the information / that, “from the mathematical side, salary amounts are present, but there are technical obstacles,” indicating that “6 trillion monthly sums of salaries exist, but some administrative and technical measures impede the disbursement of salaries.”

He added, “The government has demanded astronomical sums of up to 14 trillion dinars per month during the next three months, while its actual need does not exceed two trillion dinars per month.”

Today, Tuesday, the head of the Parliamentary Change Bloc, Yusuf Muhammad, warned of the repetition of the experience of delaying and cutting the salaries of the region’s employees by the federal government in Baghdad and the rest of the provinces, stressing that securing compensation for employees and workers in the public sector is one of the first obligations of the federal government.

Parliamentary Finance: Al-Kazemi government intends to pass 2021 with loans and not send the budget

Pratha News Agency103 2020-11-03   The Parliamentary Finance Committee revealed the government’s intention not to send the 2021 budget and run it depending on loans, stressing that the committee will prevent the passage of this project.

A member of the Finance Committee, Jamal Cougar, said in a press interview that “the easy loan and aid law indicates that the Kazemi government does not intend to send any budget for 2021.”

He added that “Al-Kazemi is trying to run next year by relying on loans,” noting that “the Finance Committee will vote on the borrowing law within two weeks according to the actual need and not the numbers requested by the government.”

“The committee will prevent the passage of next year without a budget, and it will not allow two years to pass without a budget,” Cougar said.

The Parliamentary Finance Committee revealed, yesterday, Sunday, the government’s intention to continue the process of borrowing for six months and not until the end of the current year, indicating that its actual need for the remainder of this year does not exceed 11 trillion dinars.

Al-Kazemi Issues Finance Directive Regarding Retirement Salaries

Time: 11/03/2020 14:43:00 Read: 8,177 times  {Baghdad: Al Furat News} The Prime Minister, Mustafa Al-Kazemi, issued a directive to the Ministry of Finance regarding the salaries of retirees.

His spokesman, Ahmed Mulla Talal, said in a tweet on Twitter: “At the beginning of the cabinet session, today, Prime Minister Mustafa Al-Kazemi directed the Ministry of Finance to find solutions urgently to disburse the salaries of retirees, pending the approval of the law (covering the financial deficit) by the House of Representatives to start disbursing Employee salaries. ”   LINK

In pictures, the governor of the Central Bank visits exchange companies and promises to study their proposals

Time: 11/03/2020 13:47:32  Read: 3,094 times

{Baghdad: Al Furat News} Today, Tuesday morning, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhaif, conducted a field visit that included a number of brokerage firms buying and selling foreign currencies on both Karkh and Rusafa sides in Baghdad.

A statement of the bank’s media, a copy of which was received by the Al Furat News Agency, stated that “the governor had a committee specialized in auditing companies from the banking supervision department at the central bank.”

Mukhaif informed “the workflow of these companies and their dealings with the beneficiaries of the citizens. I also listened to the notes and suggestions of the owners of the companies and promised to study them by the bank and activate their outputs, which will positively affect the work of the Iraqi financial and economic sector.”

The statement pointed out that “this visit comes from his keenness to see first-hand the actual reality of the work of these companies in order to develop the services provided by them.”   LINK

Rafidain Bank Announces New Decisions Regarding Loans And Interest

Time: 11/03/2020 13:09:47 Read: 16,120 times   General Director of Al-Rafidain Bank: Releasing advances and loans after distributing employees ’salaries.

There is a tendency to reduce the interest for all advances and loans granted to citizens and employees after the approval of the concerned authorities. The bank decides to grant interest in advance for fixed deposits deposited by citizens for different periods of time.  LINK

A New Explanation From The Tax Authority About The Fire Of Its Building: We Saved 7 Billion Dinars

Political| 03:56 – 11/03/2020  BAGHDAD – Mawazine News  The General Tax Authority issued, on Tuesday, a new explanation about the causes of the fire in its building.

The Director General of the General Tax Authority, Shaker Al-Zubaidi, said in Ban that Mawazine News received a copy of it, “The fire that affected the Authority’s building this morning and at exactly 6:30 in the morning, when the electrical generator for the department was started, which caused an electrical shortage in the secondary ceilings in The fifth floor is the general manager’s office and the fourth floor, and the flames of fire began to take on a wide range of space, but with tremendous efforts and accelerated control with the firefighting teams in the civil defense, the fire was put under control.

He added, “All servers, computer systems and hard drives stored in the department are in a place far from the place of the fire accident and are completely controlled,” stressing that “the amount of 7 billion Iraqi dinars was taken out to another place to preserve the public money.”

Al-Zubaidi called on satellite channels and social media to “take news from their official sources and not rush to contribute to rumors and inaccurate news.”

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