BondLady’s Corner

  In Bondlady’s Corner

More Iraqi News Saturday PM 11-14-20

TLM724 Administrator BondLady’s Corner

Iraqi oil exports to America record a big increase within a week

Energy  Economy News _ Baghdad   The US Energy Information Administration announced, on Saturday, that Iraqi oil exports to America increased by 54 thousand barrels per day during the past week.

“Iraqi exports rose by 54 thousand barrels per day during the past week, to reach an average of 186 thousand barrels per day, after it was 132 thousand barrels per day in the previous week,” the administration said in a report seen by “Al-Eqtisad News”.

And she added, “US imports rose during the past week by 528 thousand barrels per day to 5104 million barrels per day. Most of these imports from Canada amounted to 3.681 million barrels per day, while oil imports from Mexico reached 433 thousand barrels per day, and oil revenues from Saudi Arabia also increased by 151 One thousand barrels per day to 357 thousand barrels per day. ”

It indicated that “US imports of crude oil from Ecuador rose by 249 thousand barrels per day to 295 thousand barrels per day, while oil revenues from Brazil decreased by 20 thousand barrels to reach 66 thousand barrels per day and did not import oil from Colombia during the past week.”   Number of observations 125 Date added 11/14/2020b

https://economy-news.net/content.php?id=22681

Economist for / NINA /: Iraq’s continued external borrowing will lead to the collapse of the country’s economy

Saturday 14, November 2020 09:35 | Economical Views: 370   Baghdad / NINA / The economic expert, Raad Twig, confirmed that Iraq’s continued external borrowing will lead to high rates of deflation, worsening recession and the collapse of the Iraqi economy, calling for readiness to spin the wheel of the economy after the end of the Corona crisis.

Twig said in a statement to the Iraqi National News Agency ( NINA ): The Iraqi economy bears fixed obligations, which are huge salaries of 4.5 million employees in addition to 2.5 forms of retirement and social care, and that these fixed costs must be paid from the oil exports and that these exports are covered by 50 % Of salaries, as the salary cover is exposed, makes the Iraqi economy in a state of chronic imbalance and because of the problem of salaries and the inability of the economy to contain them, solutions had to be made.

He pointed out: “Deepening borrowing means depleting savings at the level of the national economy. Therefore, the Minister of Finance proposed the borrowing amount of 41 trillion dinars, unsuccessful and the lack of transparency and disclosure of the uses of the borrowed amount was the response of Parliament and an efficient performance by making the amount 12 trillion dinars, which covers the salaries of two months With the necessity of using 20% of the amount for the purposes of completing investment projects, that is, approximately 2.5 trillion dinars, meaning that the remaining 9.5 is to cover the financial deficit for the amount of salaries. ”

He added: The debate on the salary law should not take up a large period of time because it casts its shadow on the people’s livelihood, the increase in the rates of contraction and the aggravation of the state of recession, as many of the businesses that employ a lot of workers have closed their doors, which increased poverty and disrupted the use of the Iraqi economy, which is in a state of absence Full use, and therefore Iraq must prepare to rotate its economic wheel after the close of the Corona crisis, distributing the vaccine, working to find radical solutions to the salary problem, finding an alternative economy, and reviving the strategic agreement with China and Japan.

https://ninanews.com/Website/News/Details?Key=869384

Nassif responds to the Kurdish objections regarding the approval of the Fiscal Deficit Financing Law: We have performed our national and moral duty towards employees, retirees, and beneficiaries of social care

Saturday 14, November 2020 10:24 | Political Views: 414  Baghdad / NINA / Representative Alia Nassif confirmed that the representatives have fulfilled their patriotic and moral duty towards employees, retirees and beneficiaries of social care by approving the law on financing the deficit.

She said in a statement today that the Iraqi National News Agency / NINA / received a copy of it: “The regional authority is a large part of the financial crisis that Iraq is going through today, which has reached the stage of delaying the salaries of employees, because it refuses to pay oil imports, border crossings and all resources to the federal government. , And the ruling parties in the region are the ones that bear responsibility for not paying the salaries of the region’s employees because of their overt possession of all resources.

She explained that the failure of the ruling authority in the Kurdistan region to deliver oil imports and border crossings to Baghdad for several years is one of the most important causes of the current financial crisis, and therefore the Kurdish parties have no right to object to the passage of this law.

She said: “The Kurdish parties’ objection to the passage of the law on financing the fiscal deficit is not justified. Rather, it is one of the consumed plays that they used to perform in front of the Kurdish people with the aim of promoting themselves as national heroes and to convince the Kurdish street that Baghdad is the reason for depriving the Kurds of their salaries. ”

Nassif added: “The ruling authority in Erbil, unfortunately, did not have any good position with the federal government. Rather, it was and is still against the issues of the Iraqi people and attracted the corrupt and outlaws and even the Mossad opened offices for it in the cities of the region, and today the region’s authority comes to object to a decision it made.” The Federal Parliament to overcome the current crisis. ”

And she continued: “The Shiite and Sunni blocs have the right to take any decision aimed at solving the problem of salaries of employees, retirees, and beneficiaries of social care without the permission of the Kurdish parties because of which the Kurdish street has suffered from being deprived of its most basic rights.” https://ninanews.com/Website/News/Details?Key=869394

Ministry of Planning: Customs is the only authority that grants approval for entry of goods

The Ministry of Planning building   Money  and business  Economy News – Baghdad  The Ministry of Planning confirmed, on Saturday, that allowing or preventing goods from entering the country is under the authority of the customs authority.

The head of the Central Bureau of Statistics of the Ministry of Planning, Hussein Ali Daoud, said, “Customs is the only authority that prevents the entry of new goods or permits them to enter based on government decisions. Official “Conscious”.

He added: “The Central Agency is an authority to assess conformity of goods, and its work is concerned with issuing specifications and a judgment in terms of conformity or lack thereof to the concerned authorities.”

Regarding the mechanism for inspecting goods at the ports, Daoud said, “The Central Agency sends its employees every day for 6 months throughout the week to monitor and verify the work of the checking companies at the border crossings.”

He continued, “His employees are present at Basra ports in the Northern Palace, the Southern Palace, and Shalamjah, and in Trebil, and there is a team from the Central Agency that is present throughout the week at the Zurbatiyah and Al Shayeb outlets, and its work is in coordination with the Border and Customs Ports Authority.

The director of the agency pointed out that “in the Kurdistan region there is no role or supervision over what is going on from the region’s outlets by the Central Bureau of Statistics,” indicating that “this matter represents one of the major problems; it is in violation of Cabinet Resolution No. 13 of 2019.”

Number of observations 131 Date of addendum 11/14/2020   https://economy-news.net/content.php?id=22684

Parliamentary Economy and Investment: Marking a serious loophole in the file of building and investing in housing complexes

Reconstruction and building  Economy News _ Baghdad  The Committee on Economy and Investment in the House of Representatives monitored, on Saturday, a major defect in the housing investment file inside the country, especially the capital, Baghdad.

Committee member Nada Shaker Jawdat said in a press statement, “It is assumed that the Iraqi negotiator with investment companies of various nationalities should be responsible in dealing with public interests.”

Jawdat added, “The distinctive lands, whether in Baghdad or the rest of the governorates, which are granted to investors to build residential complexes are given in very limited amounts of money that do not match their real value, but unfortunately there is no control over determining the value of the residential unit, although the state has contributed to the cost of establishing these complexes through the price of the lands “.

She explained, “Governmental lands are the property of all people, and therefore there must be real control by the negotiator with companies and investors in determining the prices of real estate and apartments value in investment complexes and interaction with investment projects in neighboring countries and how they succeeded in building large institutions through Investment, but under distinct conditions that meet the public interest.

Jawdat indicated that “government lands are basically the assets of the state, but they are given without any consideration in terms of follow-up, control and achievement of public benefit, and thus wasted waste is scattered.” Number of observations 430 Date of addendum 11/14/2020

https://economy-news.net/content.php?id=22679

The Association of Private Banks and the American Information Systems Audit and Control Association sign Memoranda of Understanding on governance, security and auditing of information technology

Executive Director of the Association of Iraqi Private Banks Ali Tariq (left) and Director of the Iraq Branch of the Association for Auditing and Monitoring Global Information Systems, Ali Mustafa during the signing of the agreement. “Economy News”

Banks  Economy News – Baghdad  The Iraqi Private Banks Association and the Information Systems Audit and Control Association “ISACA”, which is headquartered in America, signed a memorandum of understanding to enhance cooperation in the areas of governance, security and auditing of information technology.

“The Executive Director of the Association of Private Banks Ali Tariq and the Director of the Iraq Branch of the Association for Auditing and Monitoring Global Information Systems, Ali Mustafa, signed a memorandum of understanding in Baghdad in the fields of qualification, training, workshops, consulting, governance and information security,” the Iraqi Private Banks Association said in a press release. “.

She added, “This memorandum will help the financial sector achieve global requirements in the field of information technology, information and cyber security.”

She emphasized that “through the Memorandum of Understanding, the process of developing human cadres for workers in the financial sector will take place through training, workshops and awareness programs to adhere to the instructions of the Central Bank of Iraq in the field of compliance with standards and controls of information technology and digital security.”   Number of observations 154 Date of addendum 11/14/2020 https://economy-news.net/content.php?id=22685

Dollar exchange rates in the Iraqi market

Pratha News Agency104 2020-11-14   The exchange rates of the dollar increased in the main stock markets, while it stabilized in local markets today, Saturday (November 14, 2020).

The Kifah Stock Exchange recorded 125,000 dinars against 100 US dollars, which is the same as the dollar exchange rate last Thursday, which recorded 124.950 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 125,100 dinars per 100 dollars.

While the exchange rates in Sulaymaniyah Governorate were recorded at 125,250 dinars per 100 dollars.

http://burathanews.com/arabic/economic/380466

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

https://www.bondladyscorner.com/