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More Iraqi News Monday PM 2-8-21

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The Decision Of The Finance Committee Reveals That 95% Of The Federal Budget Items Have Changed

Money  and business  Economy News _ Baghdad  On Monday, the reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, revealed the details of the amendments made by his committee regarding the budget, indicating that the changes included 95% of its provisions and the reduction of the budget of the three presidencies.

Al-Saffar said in a press interview, that “the Finance Committee in the House of Representatives worked for 560 hours of continuous meetings, during which it received 320 officials of spending units regarding the budget amendment.”  He added, “Parliament has succeeded in reducing the difference significantly between the deficit and public spending, as the number reached from 164 trillion dinars to 127, and it continues to reduce, as well as reducing the budget of the three presidencies by about 20%.”

Number of observations 144 Date added 02/08/2021  https://economy-news.net/content.php?id=24010

Dollar Exchange Rates In The Local Market Today

Market  Economy News _ Baghdad   “Economy News” publishes the exchange rates of the dollar in the local markets on Monday (February 8, 2021).   The price of the dollar against the Iraqi dinar

Exchange office prices: The sale price of the dollar is 146,250   The purchase price of the dollar is 145,250

Number of observations 84 Date added 02/08/2021  https://economy-news.net/content.php?id=24006

The Central Launches The Digital Enrollment Service

Monday 08th February 2021  212  Baghdad: Morning  Yesterday, the Central Bank of Iraq launched the digital enrollment service, which is the first of its kind in Iraq and the region, while the Rafidain Bank began disbursing instant advances.

A bank statement said, “Digital enrollment is an integrated digital financial system that enhances financial independence and liberation from traditional financial systems, as it works to transform Iraq into a country less dependent on cash, which enables the state to fight corruption, evasion and bureaucracy in financial dealings within banks operating in Iraq.” .

The statement explained, “This service is a modern and different trend because of its many advantages, including conducting financial operations in a modern digital electronic form, which reduces time and geographical distances and raises traditional barriers in the Iraqi banking sector.”

Meanwhile, Al-Rafidain Bank began disbursing immediate advances in Baghdad and the provinces.

A statement by the bank indicated that it “has begun to disburse immediate advances in its branches in Baghdad and the provinces.”

Meanwhile, Rasheed Bank revealed the conditions for granting personal advances to employees of the Ministries of Defense, Interior and National Security.

The bank’s statement said, “The grant decision is without the resettlement condition.”

He pointed out that “the instructions that were laid included that the person requesting the advance must be affixed to the permanent owner, and that he was not owed a previous advance that was not fully paid granted by our bank on the date of submitting the application for obtaining the advance, and that the age of the advance payment applicant does not exceed the legal age established by the law of service included in it at the end The term of the advance, the amount of the advance (5/8/10) million dinars, according to the limits of the net salary, and the period of the advance (5) years, with an interest of 5 percent, calculated using the straight-line method and paid in monthly installments.  LINK

Issue No. (4615) Of The Iraqi Newspaper Al-Waqi’a Issued On 1/2/2021

2021-02-08 01:06:00

1- Law No. (25) for the year 2020 on ratification of the United Nations Convention on Transparency in Treaty Arbitration between Investors and States.

2- Law on the accession of the Republic of Iraq to the Protocol of 2005 amending the Convention for the Suppression of Unlawful Acts Against the Safety of Maritime Navigation of 1988 No. (26) of 2020.

3- Law on the accession of the Republic of Iraq to the International Hydrographic Organization Convention, as amended, No. 27 of 2020.

4- Law of the Republic of Iraq’s accession to the International Convention on Oil Pollution Preparedness, Response and Cooperation (OPRC 90) of 1990 No. (28) of 2020.

Those wishing to acquire the Iraqi factsheet can refer to the Iraqi investigation department located in Salhiya / Haifa Street (Ministry of Justice building), and obtain the required number. https://www.moj.gov.iq/view.5383/

Representative Services: $ 600 Million, The Total Sums Obtained By The State From Telecommunications Companies

Money and business  Economy News _ Baghdad A member of the Parliamentary Services Committee, Jassem Al-Bakhati, confirmed, on Monday, that $ 600 million is the total amount that the state obtained from telecommunications companies, which is a weak figure compared to neighboring countries of Iraq.

Al-Bakhati said in a press interview, “$ 600 million is the total sums obtained by the government from the three telecommunications companies, Asiacell, Zain and Koroc.”

He added that “millions of subscribers suffer from poor services, as well as the continued imposition of sales tax on recharge cards,” noting “a major defect in the issue of 4G activation.”

Al-Bakhati called on the members of the House of Representatives to “address the phenomenon of the continuing high price tax of freight cartridges and poor services provided to millions of subscribers.”

Number of observations 98 Date added 02/08/2021   https://economy-news.net/content.php?id=24009

Oil Jumps Over $ 60 A Barrel

Economy   Monday 8 February 2021 | 09:35 am| Views: 61  Today, Monday, Brent oil price exceeded $ 60 a barrel for the first time since January 2020 .

The value of Brent crude oil futures for the month of April increased by 0.77%, to reach $ 60.01 a barrel. March West Texas crude futures increased by 1.18% to $ 57.53 .

The rise in oil prices is due to optimism about the recovery in market demand, after the expansion of vaccine campaigns against the Corona virus, around the world, which may lead to a decrease in the rates of “Covid-19” disease and the lifting of quarantine restrictions, and thus the return of demand for oil to pre-levels. Epidemic outbreak    https://aynaliraqnews.com/index.php?aa=news&id22=143510

Oil Announces The Addition Of More Than (80) Thousand Barrels Per Day As Refining Capacity For Southern Refineries

Energy   Economy News _ Baghdad  Oil Minister Ihssan Abdul Jabbar confirmed, on Monday, that the current year will witness the addition of more than (80) thousand barrels per day as refining capacity to the production of the Southern Refineries Company.

According to a statement issued by the ministry, the “Economy News” received a copy, the minister said, “This year will witness the addition of more than 80 thousand barrels per day as refining capacity to the production of the Southern Refineries Company, after achieving advanced completion rates in the fourth refining unit project with a capacity of 70 thousand barrels per day.”

It is hoped that it will be completed next October, in addition to achieving great completion rates in the Azmara Unit project, with a capacity of 11 thousand barrels per day, and it is planned to be completed in July.

He added, “There are efforts to reach very advanced completion rates in the cooling tower project with a capacity of 12 thousand m3 / hour, which will enter the field of service in the month of April, and the steam boiler project with a capacity of 300 tons / hour and the water dealings project with a capacity of 300 m3 / hour, which will enter Service in the last quarter of the current year 2021. ”

The statement continued, and the general manager of the Southern Refineries Company, Hussam Hussein and Lee, said that the projects that the company is implementing will increase and improve the production of high-octane gasoline, as well as increase the production of naphtha products, gas oil, kerosene, fuel oil, liquid gas, in addition to that.

All production units, including the fat refinery, will operate at full capacity, stressing that the implementation of the FFC project with a capacity of 55 thousand barrels is considered one of the most promising projects in the refining industries in Iraq.  Number of observations 81 Date of addendum 02/08/2021     https://economy-news.net/content.php?id=24014

Agricultural Bank: The Launch Of Agricultural Loans With Low Interest Rates

Banks Economy News _ Baghdad  The Agricultural Cooperative Bank is close to launching private loans to encourage agricultural projects according to the initiative of the Central Bank, while the bank confirmed its contribution to granting commercial and industrial loans to support the agricultural sector.

The bank’s director, Rashad Khudair Wahid, said in an interview with Al-Sabah newspaper, which was seen by Al-Iqtisad News, that the bank is currently working according to government directions to support the agricultural sector and encourage support industry, explaining that the next few days will witness the launch of loans through the central bank’s initiative in support of farmers and farmers. By 250 billion dinars, at an interest rate of 4 percent.

He added, “This amount will encourage the beneficiaries to establish new agricultural projects that contribute to the activation of national production, indicating that the bank continues to grant other agricultural loans that also target groups of farmers, farmers and investors, whether individuals or companies, and the bank’s contribution is 80 percent of the project cost.”

He continued, that the bank has recently reduced the interest rate for these loans after it was short and up to one year, 8 percent, now 5 percent, to the interest of long-term loans for a recovery period of more than 5 years, which was also 8 percent, and now it has decreased to 7 percent.

Waheed explained, “The amounts of loans granted to farmers by the bank range from 50 to 150 million dinars, as it requires the farmer to submit an agricultural land contract or title deed and the type of project he wants to establish, whether these projects are seasonal, plastic houses, orchards, poultry farms, or Lakes and others are not required for economic feasibility and specific guarantees in addition to the guarantee of employees.

Number of observations 160 Date added 02/08/2021   https://economy-news.net/content.php?id=23999

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