BondLady’s Corner

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More Iraqi News Monday PM 4-5-21

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Disclosure Of The Date Of Implementation Of The Largest Strategic Project After 2003

Time: 04/05/2021 15:55:47 Read: 2,210 times  {Local: Al Furat News} The Minister of Water Resources, Mahdi Rashid, announced the date of the implementation of the Makhoul Dam.

Rashid said in a statement that the Euphrates News Agency received a copy of it, “On the first of next May, the date for the implementation of the dam will begin, as the Ministry of Planning agreed to include it after the Ministry of Water Resources completed all the requirements for listing.”

He added, “The Makhoul Dam is one of the largest strategic projects after the year 2003, and will contribute to strengthening the water security and the economy of the country.”   The process of constructing the dam will take 3 to 4 years, according to the ministry.   LINK

The Relations Committee Clarifies About The Tripartite Baghdad Summit

Political| 02:52 – 04/05/2021   BAGHDAD – Mawazine News   The Parliamentary Foreign Relations Committee stressed, on Monday, the need for the countries of the region to make investments in Iraq, while noting that the tripartite summit to be held in Baghdad was postponed but not canceled.

Committee member Dhafer Al-Ani said, according to the official agency, that “the tripartite summit to be held in Baghdad is on the agenda,” noting that “it was postponed due to immediate circumstances, but it was not canceled.”

He added that “the benefit of the Iraqi diplomatic movement at various levels, including security, because terrorism, even if it received a severe blow, still exists, whether it is cells, an idea or financing.” Iraq is a transnational kind. ”

He pointed out that “the diplomatic movement at the economic level, is that Iraq is rich, but its people are poor for many reasons, perhaps in the forefront of which are administrative corruption, red tape and blackmail to which businessmen and investors are exposed. If the countries of the region do not bring their investments to Iraq, the European and American will not risk that.”

He continued, “The Arabs are the only ones who can take risks to invest in Iraq, after encouragement from their countries.”

Al-Ani stressed that “the benefit of the diplomatic movement on the social level is that the links between Iraq and Arab countries are historical, civilized, lineage and tribal, which make communication an important matter in the stability of Iraq and the stability of the region’s security, in addition to that because the region is witnessing swift attempts to defuse the settlement crises that occurred in Libya.”

What happened in Syria and the attempt to address the Yemen problem, in addition to the impending US-Iranian negotiations on the nuclear file, and Iraq is not isolated from the region, and the climate of settlement and calm is expected to prevail during the next stage. ”

Al-Ani expressed his “welcome to the visits by Iraqi officials,” calling on the government to “further rapprochement with the Arab countries, because the Arabs have extended the hand of assistance to Iraq repeatedly, and we hope that Al-Kazimi will take care of this opportunity to consolidate the interests of the country.”

On March 27, Prime Minister Mustafa Al-Kazemi confirmed to King Abdullah II bin Al-Hussein of Jordan during a telephone call, the importance of holding the Iraqi-Jordanian-Egyptian tripartite summit very soon, and this came after Al-Kazemi decided, on March 26, 2021, to postpone the summit scheduled to be held in Baghdad. In solidarity with the two train collision accident in Egypt, which led to the death and injury of dozens of citizens. Ended 29 / A43

Oil Prices Are Falling

Time: 04/05/2021 11:10:08 Read: 2,483 times   {Economic: Al Furat News} Oil prices fell today, Monday, canceling strong gains made in the previous session, which were supported by the decision of “OPEC +” to gradually reduce some of its restrictions on production between May and July of this year.

By 04:05 GMT, Brent crude futures fell 1.46% to $ 63.91 a barrel, while West Texas Intermediate crude fell 1.42% to $ 60.92 a barrel.

The contracts of both contracts were settled by more than two dollars a barrel on Thursday, as investors considered that the decision of “OPEC +” confirmation of a recovery led by demand, and optimism increased by US President Joe Biden’s plan to spend on infrastructure, and allocate two trillion dollars for that.

The countries of the “OPEC +” group agreed to ease production restrictions by 350 thousand barrels per day next May, another 350 thousand barrels per day next June, and about 400 thousand barrels in July.

Analysts at “Goldman Sachs” bank said that the decision indicates a caution on the part of “OPEC +”, as it seeks to avoid a surplus in supplies in the market.

The bank expects a strong recovery in demand for oil this summer, which requires an additional two million barrels per day of “OPEC +” production, from next July to next October.   LINK

Planning Is The Most Important Axes Of Achieving Economic Development

Monday 05th April 2021  66  Baghdad: Morning  Planning is one of the necessities necessary to achieve economic advancement in all productive and service sectors, to be the cornerstone of achieving the goals the country seeks.

Academic d. Saad Al-Taie assured that “the areas that strategic planning aims to develop and improve its performance are numerous, and that the development of the performance of human resources working in the institution and the advancement of its productivity through the organization of qualitative development courses.”

He pointed out that “scientific planning is made use of in refining the energies, competencies and capabilities available for the economic project, which contributes to reducing losses or losses from expenditures in the lowest possible degree, for the purpose of achieving the highest levels of profitability and qualitative implementation.”

He indicated that «in the field of equipment and technical machinery used in the institution, plans are being drawn up in order to introduce the necessary technical updates to them and keep abreast of developments in the technological fields, and to develop plans in order to know the economic feasibility of purchasing and using modern technical machinery and equipment and investing them in the optimal economic investment, in a way that achieves The economic institution has the highest possible profitability ».

He stressed that “the most important planning axes are those that focus on developing human resources employed in productive work, which represent the generating energies of productive outputs, as the quality of the product it offers comes from its efficiency, professionalism, professional potential and skills.” LINK

The Private Sector And Advanced Technology Contribute To Multiple Revenues

Monday 05th April 2021   85   Baghdad: Hussein Thahab   Voices have been calling to work on the actual approach to achieve a multiplicity of financial revenues, relying on the serious private sector that owns capital and advanced technology, which reduces time and effort, at a time when investment allocations in the current year’s budget came below the level of ambition.

Industrial consultant Amer Issa said that «the Iraqi economy cannot continue depending on oil revenue, which requires us to work hard towards alternatives and invest resources to diversify financial revenues, and to make real efforts in various economic sectors to gradually transform the Iraqi economy from rentier to product. He pointed out that “the budget for its investment side does not meet the ambitions of economic circles.”

The wheel of the economy

Issa pointed out “the importance of the reform efforts being parallel to the trends of combating corruption and the orientation towards reducing unnecessary for some institutions and fully activating the private sector, in addition to controlling border crossings in terms of collecting fees and taxes.”

And «the importance of opening the way for international and regional investments to work in all regions of Iraq and to overcome difficulties in order to create a large economic resource that makes the state not dependent on oil as a main source of financing the budget.

Revenue diversification

The industrial consultant stressed “the serious trend to provide an ideal work environment that contributes to attracting the investment effort to the country, as the investment aspects in the 2021 budget fell below the level of ambition, and this leads us to discuss alternatives in light of Iraq’s possession of enormous wealth that enables it to achieve its development goals.”

He pointed to “the possibility of adopting a rescue plan that includes putting in place practical proposals to manage and diversify the country’s financial revenues and moving to implement them through specialized work teams.” With the participation of private sector institutions, civil society and the media, as well as setting up a mechanism for selecting the departments of the executive body from the specialized technical competencies outside the quota system and influences in all their forms.

And «the importance of laying the foundations and proposing measures to diversify the economy, improve the business and investment environment, develop the banking system to keep pace with the requirements of development and investment, and propose programs and projects according to priority, with specifying who does what and who undertakes the inevitable implementation of each project, and how the implementation and financing are determined with all the attribution and support factors for their completion, as well as Adopting a national campaign led by the government in the manner of government implementation and partnership between the public and private sectors, to develop the infrastructure and address the housing crisis and its repercussions on the societal situation

As a whole”. Issa pointed to “the inevitability of converting the strategies approved during the past years into executive approaches by successive governments and sectoral ministries and into a comprehensive national campaign for construction and reconstruction, especially since the strategies bear the long-term characteristic, to reach 2030, which is a commitment that the state adopts and governments come to formulate policies and plans for their implementation.” .   LINK

Baghdad Trade In An International “Virtual” Meeting

Monday 05th April 2021  68  Baghdad: Morning  The head of the Baghdad Chamber of Commerce, Firas Rasul Al-Hamdani, participated in the Beauty Istanbul meeting for the Middle East region via a video circuit, along with more than 70 suppliers from 15 countries including the United States, the United Kingdom, the Netherlands, Italy, Spain and a group of countries in the world.

Al-Hamdani said: “This hypothetical symposium concerns all the poles of the private sector on the planet, and standing at the most important partnerships between friendly and brotherly countries,” noting that “the room includes a family of 480,000 members between companies and businessmen, and we have more than 50 thousand A registered company that practices investment, industrial, agricultural, oil and all sectors activities without exception.

Commercial Agencies

He added, “The Chamber has strategic relations with most of the countries of the world. We aspire and earnestly to expand the circle of relations by obtaining international commercial agencies, to work with the Iraqi merchant and Al-Baghdadi in particular, through the gate of the Baghdad Chamber of Commerce, which organizes the reality of work through the Media Department and the Exhibition Division in the Chamber ».

A lasting partnership

Al-Hamdani pointed to “the possibility of achieving a permanent partnership between the Iraqi private sector and its counterparts in the countries of the world,” stressing “the importance of being with this elite and conveying a brief idea to international companies about the Iraqi market, which wish to be present in the Iraqi labor market.”   LINK

Digital Finance 

Monday 05th April 2021  110  Muhammad Sharif Abu Maysam   Digital finance means enabling every citizen to obtain financial services through technology Modern.

This digital finance is an important tool of financial inclusion programs, as it provides tremendous opportunities for increasing financial inclusion and expanding basic services in light of the widespread use of phones.Mobile.

Accordingly, there is an opportunity available to activate electronic payment systems, in conjunction with what the repercussions of the Corona pandemic impose on the importance of remote dealing, to expand the range of financial services towards other sectors, after the electronic accounts base expanded and private financing outlets multiplied as a result of the salaries of more than four million people.

An employee, a retired employee and a large number of citizens covered by social care and legal guardianship in the institutions of the Ministry of Justice, as well as the expansion of the form of electronic services, which varied between payment services through sales cards, travel cards and mobile services Bank.

In addition to the programs that talk about the intention to issue a farmer’s card in the direction of expanding work towards the sectors of agriculture, transportation and health, so that digital finance is a way to include the poor classes with financial services through technology, which has become accessible to all people in the most remote point in the country.

From this realistic standpoint, which is based on a banking infrastructure that has had priority in preparation and preparation during the past years, the International Finance Corporation is talking today about the results of a study it conducted on the digital financial services sector in Iraq, where the experts of this institution will review the results of this study and how to benefit from them Through an interactive workshop called by this international institution, so that the attendees would be of those concerned with this matter, as well as those involved in financing the agricultural sector in Iraq.

The huge development challenges facing the country require diligence at different levels, and among the most important of these levels is digital financial finance, which requires searching for new and different applications for digital finance in light of the administrative legacy based on red tape and bureaucracy in agricultural credit in particular, which will make receiving results The study conducted by IFC experts is meaningless without breaking the bureaucratic legacies in banking.   LINK

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