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More Iraqi News Iraqi News Sunday PM 3-14-21

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The Kurdistan Region Delegation Begins Last-Hour Negotiations In Baghdad

Money  and business  Economy News _ Baghdad  Member of Parliament, Representative Riad Al-Masoudi, confirmed, on Sunday, the arrival of the regional government delegation negotiating the budget to Baghdad this morning, indicating that the delegation will conduct negotiations in the last hours before the start of the voting session on the draft budget law tomorrow, Monday.

Al-Masoudi said in a press interview, “The Kurdish delegation arrived in Baghdad to conduct recent negotiations with government and parliamentary parties to agree on the final formula for the region’s entitlement to the budget.”

He added that “the negotiations of the region’s delegation will continue today and until tomorrow morning, before the start of the voting session on the draft budget law in tomorrow’s session, Monday, after the Speaker of Parliament approved the proposal of more than 150 deputies to include it on the agenda of Monday’s session,” indicating that “the delegation cannot procrastinate. “.

Number of observations 201 Date of addendum 3/14/2021

An Economist Reveals The Annual Interest Paid By Iraq And Determines The Importance Of High Oil

Time: 03/14/2021 14:24:00 Read: 3,783 times  {Baghdad: Al Furat News} Economic expert Basem Jamil Antoine confirmed, today, Sunday, that any increase in oil prices will lead to the economic recovery to higher levels in the country, indicating that the increase leads to reducing the budget deficit and addressing borrowing.

Antoine told {Euphrates News} that “Iraq is more rentier than any other oil-producing country,” stressing that “any increase in oil prices leads to a good level, and this in turn is also reflected in reducing the financial deficit in the budget and stimulating the economy.”

He added that “using the differentials in oil prices leads to investment, job creation and local production.”

Antoine pointed out that “Iraq is a lender, and borrowing part of it is not productive, as it burdens Iraq, and Iraq pays at least 10 trillion Iraqi dinars annually on the benefits of the office.”

The economist went on to say, “We need to improve management to use this money to benefit from it, to create a productive sector and reduce dependence on the oil sector.”  LINK

The Minister Of Labor Announces The Imminent Launch Of New Batches Of Loans For The Unemployed

Money  and business  Economy News _ Baghdad  Minister of Labor and Social Affairs, Adel Al-Rikabi announced, on Sunday, the imminent launch of a new batch of loans for job seekers and the unemployed, while explaining the reason for the lack of applicants for the business incubators program.

Al-Rikabi said in a press interview with the Iraqi News Agency, which was followed by “Al-Eqtisad News”, that “the ministry will launch the 30th installment during the next few days,” indicating that “the number of loans will reach from 4 thousand to 5 thousand loans for all governorates.”

He added, “The mechanism for distributing loans to the provinces will be through the governorate, which has a higher recovery rate of loans, which will have more loans,” stressing that “the loans will be without interest.”

He pointed out that “the loan controls stipulate that the borrower must be registered in the Ministry of Labor database as a job-seeker or unemployed, regardless of his academic achievement, provided that he submits a small income-generating project,” noting that “the ministry will follow up the project that the borrower submits and is responsible for it because he He will refund the amount to the ministry according to controls set for this purpose. ”

Regarding the business incubators program, Al-Rikabi explained, “The program grants a loan of 20 million to each applicant according to strict controls, indicating that” applicants for the program are very few due to the strict controls set by the Ministry, provided that there is a project that is actually on the ground and has reached the stage of production. The ministry follows it up for a year.

He continued, “The sums are available for this program, but the applicants for it are few,” noting that “the reason for the ministry’s strictness comes in order for there to be real projects of economic feasibility and the borrower bears the consequences of returning this amount in the event that no real production project is completed.”

He noted that “the ministry will have understandings with the General Secretariat of the Council of Ministers and the Central Bank in order to obtain a new batch of loans for the fund for financing small income-generating projects during the next few years.”

Al-Rikabi went on to say that “the ministry will have understandings with the ministries of planning and finance to launch new payments for the unemployed more than one payment during the next few period. He indicated that there are 80 projects within the business incubator loans financed by the Department of Labor and Training in the Ministry of Labor,” stressing These projects are successful and many unemployed work in them.

He indicated that “an exhibition was held in conjunction with the Ministry of Industry to display the products of these projects.”

Number of observations 181 Date of addendum 3/14/2021

Representative Economy: The Delay In Distributing The Ration Card Items Threatens A Popular Explosion

Author: AhadNA3 On 3/14/2021 – 2:09 PM 75   A member of the Parliamentary Committee on Economy and Investment, Layal Muhammad Al-Bayati, confirmed today, Sunday, that the lack of ration card items constitutes a burden on citizens in the exceptional circumstances that the country is going through, warning that the delay in distributing the items threatens a crisis of a popular explosion

. The Minister of Commerce was asked, during his hosting in the House of Representatives, to handle the ration card items, to no avail. ”

She added that “the ministry did not look into the eyes of the poor, who are most in need of flour and rice, and both are months late for the date of receipt and arrive with poor quality,” noting that “Baghdad is the most expensive and expensive Iraqi province.”

Al-Bayati indicated that “the former and current successors of the Ministry of Trade do not have any plans to revive the ration card items.”

Crude Oil Prices Are On The Way To $ 100

14:59 – 14/03/2021  Information / follow-up.  Analysts said that crude oil prices are on their way to highs not seen since 2014.

With the energy sector approaching its best-ever quarter with year-to-date gains of nearly 40%, Craig Johnson, head of technical analysis at Piper Sandler, said, “There are clearly signs of some hikes in additional oil prices.”

Johnson said, “I can in fact see a number that could be higher than $ 100 a barrel, within 6 to 12 months from now,” according to what he said to “CNBC”, and seen by “Al”

He explained that the SPDR Energy Sector Index Fund is also showing signs of a rally after the difficult year 2020.

He cited a chart of the 23-stock traded fund documents, indicating the formation of a technical figure indicating the rise represented by a double bottom and two tops.

“We are seeing a multi-year reversal in terms of the performance of the SPDR Energy Fund compared to the S&P 500 and it is clear that there are some very positive trends happening here,” he said. “These are long-term issues and trends that are beginning to unfold.”

With OPEC likely to keep production stable until at least the summer, Nancy Tengler of Lafer Tegler Investment expects a further rise in oil prices.

She believes that with the supply not increasing until October, it means that the price of oil can easily rise from its current levels.

Our expectations are somewhere around $ 80 a barrel for the summer, Tingler said.

For its part, JPMorgan chose Chevron and ExxonMobil among its best picks from among “major oil companies” on Friday, citing increased cost efficiency, and said that the balance sheet leverage could return to pre-epidemic levels this year. Ended / 25 h

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