BondLady’s Corner

  In Bondlady’s Corner 

More Iraqi News Sunday PM 1-9-21

TLM724 Administrator BondLady’s Corner

Parliamentary Finance Explains How To Make Changes To The Budget And The Dollar Exchange Rate

08:42 – 10/01/2021   Information / private  The Parliamentary Finance Committee indicated that the amendment to the budget takes place after completing its first reading, pointing out that changing the exchange rate of the dollar is part of the government’s authority, and Parliament cannot determine the pricing.

Committee member Jamal Cougar said to / the information /, that “the first reading of the budget is followed by amendments to it and observations by the representatives as well as the relevant committees, while it is not possible to put any observations before the first reading despite the presence of some personal observations.”

He added, “What is related to the exchange rate of the dollar and the rise in it, it is a prerogative of the Central Bank and is not subject to the convictions of Parliament.”

And that “the talk about changing government procedures regarding the exchange rate is incorrect, because the change is not in the hands of the House of Representatives, but exclusively from the authority of the executive authority.” https://www.almaalomah.com/2021/01/10/514534/

Dana Al-Katib Told / Nina /: Political Confusion And Pressures From Some Blocs Delay The Agreement Between Baghdad And Erbil

Sunday 10, January 2021 11:39 | Political Views: 382  Baghdad / NINA / Member of Parliament for the Kurdistan Democratic Party, Dana al-Katib, affirmed, “The political confusion and pressures from some blocs delay the agreement on the outstanding issues between Baghdad and Erbil.”

The writer said in a statement to the Iraqi National News Agency / NINA /: “No agreement has yet been reached between the federal government and the regional government on the outstanding issues related to salaries or the region’s proportion in the budget, because there are some legal obstacles, despite the existence of a general consensus to solve the cases without Results so far. ”

He added, “The issue is also related to the interpretation of constitutional and technical articles determining the value of compensation for the region’s employees, in the absence of a specific number. The agreement needs time for the existence of constitutional and political issues that need clarification and a position statement.”

He explained: “There are pressures from some political blocs to delay resolving the issue in light of a general atmosphere heading towards elections, and political movements may affect some blocs in stating their views on the subject at this time.”

And the writer continued: “Some people claim that the region takes money from Iraq, and the imports of the south go to the region, and this is not true,” indicating that there is political confusion on this issue with good intentions to solve the issues, waiting for enough time.  https://ninanews.com/Website/News/Details?Key=881072

Parliamentary Work Proposes To Increase The Amount Of Social Benefits By 50%

Money  and business   Economy News – Baghdad  On Sunday, the Parliamentary Labor, Social Affairs, Immigration and Displacement Committee proposed to include in the 2021 budget a clause increasing the amounts of social benefits for the covered by 50% while expanding the base of the covered.

Committee member Fadel Al-Fatlawi said, “The committee submitted a proposal to increase subsidies for social care by 50% and include it in the paragraphs of the federal budget in view of the economic conditions that the country is going through, in addition to the inclusion of other additional numbers in the social welfare system by increasing the percentage of beneficiaries,” according to the official Al-Sabah newspaper. .

He added that “the poverty line reached 30% and in some provinces exceeded 40%,” noting that “the committee seeks, with these data, to reduce the level of the poverty line by increasing the incomes of the individual covered by the social welfare system.”

Concerning the Social Security and Foreign Employment Law, the committee member stressed “working on discussing it,” noting that “it includes the size of employment, its percentage, the quality of the professions and the degree of experience.”   Number of observations 176 Date added 01/10/2021

https://economy-news.net/content.php?id=23526

Iraq Maintains Its Global Ranking In Gold Reserves

Economie| 10:52 – 10/01/2021   Follow-up – Mawazine News  The World Gold Council revealed, on Sunday, the increase in the possession of the central banks of countries of gold, as well as the governorate of Iraq on its global rank.

According to the table it published for the month of January, the council said, “Iraq has maintained the 38th position in the world and fifth in the Arab world with the largest gold reserves at 96.3 tons, which represents 8.4 percent of the rest of the other reserves.”

The World Council noted, “The central banks’ holdings of gold increased by 20 tons to reach 35.191 thousand tons compared to last December.”

He added, “The most prominent country that bought gold is Uzbekistan, where it added 8.4 tons to its gold reserves, amounting to 324 tons, while Qatar bought 3.1 tons, bringing its reserves to 56.7 tons, and India bought 2.8 tons, bringing its reserves to 672.9 tons. Then Kazakhstan bought 1.7 tons and Ukraine bought 0.6 tons. Tons “,

The World Gold Council, which is based in the British capital, London, stated that “the increase was compensated for by more than the total sales in Turkey after the increase in domestic demand, which led to a decrease in its reserves, and Mongolia reduced its gold reserves by 2.4 tons.”     https://www.mawazin.net/Details.aspx?jimare=137362

The Price Of The Dollar In Iraq Today

Time: 01/2021/10 11:09:38 Read: 19,513 times   {Baghdad: Al Furat News} The exchange rate of the dollar rose in Iraq on Sunday.   The exchange rate on the Al-Kifah and Al-Harithiya stock exchanges in Baghdad was 1430 dinars, or 143,000 dinars.    Yesterday’s price in Baghdad was 1427 dinars.

As for the exchange office prices, it was 1437.5 dinars for sale and 1417.5 dinars for purchase.   In Erbil governorate, the selling price of the dollar reached 1435 dinars, and in Basra governorate 1429 dinars.   LINK

Securities: We Traded 403 Billion Shares With A Financial Value Of 330 Billion Dinars In 2020

Time: 01/2021/10 12:48:10 Read: 1,339 times  {Baghdad: Al Furat News} The Iraq Stock Exchange announced today, Sunday, that it has traded 403 billion shares, with a financial value of 330 billion dinars in 2020.

“The market traded 403 billion shares, with a financial value of 330 billion dinars, for the shares of companies registered in the market,” said Taha Ahmed Abdel Salam, executive director of the market, in the market’s annual report for 2020, in a statement.

And that “the stock price index traded ISX60 closed at (508) points in the last session on Thursday 12/24/2020, up by 3 percent from the close in 2019, which had closed at (493) points.”

Abdel Salam added, “The number of companies registered in the market reached 104 joint-stock companies, after the listing of a joint-stock company was canceled in December, as its activity changed from a financial transfer company to a financial exchange company, class A.”

He pointed out that “the number of companies whose shares have been transacted are (75) joint stock companies due to the existence of (30) joint stock companies suspended from trading by a decision of the Securities Commission due to the failure to provide annual disclosure and annual financial statements, some of them for more than a fiscal year.”

“The market organized 183 sessions during the past year, and the market did not organize (58) sessions, as it is an official holiday, in compliance with the decisions of the Public Health and Safety Committee during the comprehensive curfew due to the Covid-19 pandemic, which was considered a force majeure,” he said. He pointed out that “the market and the capital market elements are the first to apply financial inclusion and digital transformation in performance through the applications it has taken from 2008 until today.”

It is noteworthy that the Iraq Stock Exchange organizes five trading sessions a week from Sunday to Thursday, and it includes 104 Iraqi joint stock companies representing the sectors of banking, communications, industry, agriculture, insurance, financial investment, tourism and hotels.    LINK

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

https://www.bondladyscorner.com/