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More Iraqi News Thursday PM 12-10-20

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The Central Bank And The Association Of Iraqi Private Banks Honor The Top Students In Mosul

Banks  Economy News – Baghdad  Yesterday, Wednesday, the Central Bank of Iraq and the Association of Iraqi Private Banks honored the first students at the Northern Technical University in Mosul, in addition to their support for continuing education for free on the Coursera global platform, coinciding with the day of victory in liberating Iraq from the terrorist organization ISIS.

The head of the Association of Private Banks, Wadih Al-Handal, said at the honoring ceremony that the Central Bank of Iraq is racing to support society through the distinguished initiatives it provides to develop human resources through training, support culture, and restore Baghdad through rehabilitating important squares and buildings, in addition to its important role in monetary policy It brought down inflation to lower grades.

He added that this honor is presented by the Central Bank of Iraq and the Association of Private Banks to the first students, and to encourage all students to continue knowledge and knowledge in order to contribute to the progress of the country, pointing out that the Central Bank and the Iraqi Private Banks Association gave first students symbolic gifts in addition to continuing their education for free. Through international universities through the Coursera global platform to develop their talents.

Al-Handal praised the efforts of the Central Bank of Iraq with the cultural and scientific programs and projects that were established in cooperation with the Association of Private Banks in the city of Mosul after its liberation from the terrorist organization ISIS, including granting young Mosulis interest-free loans to help them open private projects. Number of observations 192, date of addendum 12/10/2020    https://economy-news.net/content.php?id=23080

The Economic Committee Provides Five Reasons For Objecting To The Licensing Rounds And The Oil Company Law

Economie| 10/12/2020  BAGHDAD – Mawazine News,a member of the Parliamentary Economy Committee, Mazen Al-Faili, made several observations on Thursday about licensing round contracts and the National Oil Company law.

Al-Faily said, in a press conference: “We object to Article 15 – first and second of the National Oil Company Law, which repeals the National Oil Company Law No. 123 of 1967 and its amendments and repeals the dissolved Revolution Command Council Resolution No. 79 of 1995 for the following reasons:

  1. The laws and decisions included Above to be abolished, the authority of the National Oil Company or the Ministry of Oil is to directly invest in all oil regions, which encourages the national effort in the management and development of natural resources
  2. These laws and decisions stipulate that they are to be canceled in the event that the National Oil Company or the Ministry of Oil invests any of the areas designated for it. By participating with others, if it finds that it is better to achieve its objectives, to conclude a contract for this by law.
  3. Keeping these laws and decisions in effect will provide a legal justification for Iraq to review and amend the oil licensing rounds unfair to Iraq to achieve the highest benefit to Iraq as stipulated in the Iraqi constitution, because the conclusion of those contracts by the Ministry of Oil with foreign companies violated the provisions of those laws and decisions in force explicitly, and the rules In concluding such contracts, the domestic and international legal principles take into account the constitutional and legal principles of ratification followed in the countries of the parties to these contracts and avoid contravening them.
  4. The laws and decisions to be abolished in the event that they remain in effect, they preserve the public ownership of what is in the ground of the natural resources (as stipulated in Law No. 97 of 1967 in Article Three, Paragraph Four) and prohibit any partnership contracts with foreign or local companies. Confirms the legality of the federal government in demanding the region to cancel the partnership contracts it concluded with foreign companies.
  5. In addition to what was stipulated in the previous law of 2018, to oblige the national oil company to be formed in accordance with this law to review contracts for licensing rounds and amend them in a manner that preserves the interest of the Iraqi people.

Al-Faily added: “By noticing the above laws and applying them, Iraq can start from solid ground in correcting the fatal error that resulted from the licensing rounds and remedying the heavy damages and losses that the national economy incurs as a result of them.”

And he added, “As the dues and costs of the work of foreign licensing rounds have reached nearly a third of Iraq’s total oil revenues at some times, and this percentage increases and losses multiply whenever oil prices fall as witnessed by global markets in these circumstances.” Ended    https://www.mawazin.net/Details.aspx?jimare=133649

The High Exchange Rate Of The Dollar In The Local Markets

Market  Economy News _ Baghdad  The exchange rates of the dollar rose in the main stock market and local markets today, Thursday (December 10, 2020),and the Al-Kifah Stock Exchange recorded 126,800 dinars against 100 US dollars, while the exchange rates for today, Wednesday, in the Al-Kifah Stock Exchange were recorded at 126,400 dinars per 100 dollars.   As for the exchange rate on the local market, it also rose where it was

Selling price: 127,250 dinars per $ 100.    Purchase price: 126,250 dinars per 100 countries

Number of observations 157 Date of addendum 12/10/2020  https://economy-news.net/content.php?id=23076

The Price Of The Dollar Is Still High

Thursday 10 December 2020  36  Baghdad: Al-Sabah  The dollar market in Baghdad recorded an increase in the exchange rate, which reached 127 thousand dinars per hundred dollars, while in the rest of the provinces ranged between 126 thousand and 127 thousand dinars per hundred dollars in it.

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified two reasons for the rise in the dollar’s exchange rate, stressing that they are temporary bubbles affected by speculative rumors to reap profits.

Saleh told the Iraqi News Agency (INA): “The exchange market, as it is known, is one of the markets most affected by information. Rather, all its decisions depend on the available information and its level of credibility, but there are two reasons for the price fluctuation slightly above its usual rates of stability in the parallel market.”

He added that “the first reason is that the budget bill is close to being approved, and the conflicting, colored, and confused information was raised about correcting the exchange rate, which generated vague signals that the market adopted for speculation and hedging in the short period.”

He continued, “As for the second reason, it is the approaching date of the legislative elections, the political strife, and the signals and information they generate regarding political gains, or the reasons for preparing for the elections, which give a high state of uncertainty among market makers, regarding the political and economic situation of the country.”

He pointed out that “all these factors lead to anxiety in the decisions of buying and selling in foreign currency, and maintaining a price slightly higher than the market’s balance and levels of stability.”

He stressed that they are “temporary bubbles affected by speculative rumors, to reap emergency profits from the price differences,” indicating that “correcting the exchange rate will remain a monetary policy work for the Central Bank of Iraq, which is the only source For information. ” LINK

Regional Government: We Do Not Have Red Lines With Baghdad, And We Are Ready To Deliver The Oil That You Are Asking For

Time: 12/10/2020 16:16:07 Read: 1,222 times   {Baghdad: Al Furat News} The Kurdistan Regional Government announced that it has no “red lines” with the federal government.

The meetings and discussions of the regional government delegation, headed by Qubad Talabani, Deputy Prime Minister in the Kurdistan region, are heading to the federal capital Baghdad with the political parties, while the delegation is scheduled to meet with a number of parties today, Thursday.

And he had high from the Kurdistan government arrived in Baghdad yesterday, Wednesday, to start a new round of talks with the ministers of oil and finance in the federal government and the relevant parties.

In this regard, Samir Hawrami, spokesman for Talabani, Deputy Prime Minister in the Kurdistan region, said in a press statement today, Thursday:

The meetings of the regional government delegation heading to Baghdad are continuing with the federal government and the political parties.

Hawrami added: The Kurdistan Regional Government wants to agree with Baghdad, and for this purpose, the regional government implements all its constitutional obligations, adding that the Kurdistan Regional Government does not have red lines to reach an agreement with Baghdad and is ready to hand over the oil revenues that the federal government demands.

on the federal budget law for next year 2021 and the share of the Kurdistan region, he said Hawrami to, he is not writing a draft law and that the delegation of the provincial government is making strenuous efforts to reach an agreement with Baghdad to install the share of the Kurdistan region and financial dues within the budget bill.

with regard to the question of Send the amount of 320 billion dinars to the Kurdistan region by the federal government, between Hawrami, that the political parties in Baghdad do not agree to send money, pointing out that for this reason the federal government did not send the amount to the government of Kurdistan.  LINK

Hawrami: The Regional Government Wants To Reach An Agreement With Baghdad

Political| 04:18 – 10/12/2020   Baghdad – Mawazine News  The meetings and discussions of the regional government delegation headed by Qubad Talabani, Deputy Prime Minister in the Kurdistan region, heading to the federal capital Baghdad, continue with the Iraqi political parties, while the delegation is scheduled to meet with a number of parties today, Thursday.

In this regard, Samir Hawrami, spokesman for Qubad Talabani, Deputy Prime Minister, according to the PUK media, said, “The meetings of the regional government delegation heading to Baghdad are continuing with the federal government and political parties.”

He added, “The Kurdistan Regional Government wants to agree with Baghdad, and for this purpose, the Kurdistan Regional Government implements all its constitutional obligations, adding that the Kurdistan Regional Government does not have red lines to reach an agreement with Baghdad and it is ready to deliver the oil revenues that the federal government demands.”

On the general federal budget law for the next year 2021 and the Kurdistan region’s share in it, Hawrami indicated that the draft law has not been written and that the regional government delegation is making strenuous efforts to reach an agreement with Baghdad to fix the share of the Kurdistan region and the financial dues within the draft budget law.

With regard to the issue of sending an amount of 320 billion dinars to the Kurdistan region by the federal government, Samir Hawrami indicated that the political parties in Baghdad do not agree to send the amount, pointing out that for this reason the federal government did not send the amount to the federal government. https://www.mawazin.net/Details.aspx?jimare=133664

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