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More Iraqi News Thursday Late PM 4-15-21

TLM724 Administrator BondLady’s Corner

The Iraqi Stock Exchange Trades Shares Worth More Than One Billion Dinars

Economy   Thursday 15 April 2021 | 02:11 PM| Views: 232  The Iraq Stock Exchange announced, at the end of its sessions for the current week from Thursday, that it has traded more than one billion shares, with a financial value of more than one billion and 200 million dinars .

The market said in a report that “the number of companies whose shares were traded during the day amounted to 33 companies out of 103 companies listed in the market,” indicating that “the shares of 49 companies were not traded because the prices of purchase orders did not coincide with selling orders, while shares were suspended from trading 19 companies.” After submitting the disclosure . ”

He added that “the number of traded shares reached one billion and 200 million shares, with a financial value of one billion and 231 million dinars, through the implementation of 576 deals,” noting that “the ISX60 traded price index closed at 588.95 points, recording an increase of 1.66% than it closed in the previous session .”

He pointed out that “shares purchased from non-Iraqi investors amounted to 323 million shares with a financial value of 467 million dinars through the implementation of 85 deals, while shares sold by non-Iraqis in the market amounted to 12 million shares, with a financial value of 24 million dinars through the implementation of 17 transactions. ” .

It is noteworthy that the Iraq Stock Exchange has used electronic trading and central depository systems since 2009, and organizes five trading sessions per 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.

Cougar: The Government Intends To Prepare The 2022 Budget Before The Early Elections

Pratha News Agency74 2021-04-15  A member of the Parliamentary Finance Committee, Jamal Cougar, revealed that the government had formed a committee to prepare the 2022 budget and asked the Finance Committee to nominate representatives to be among it.

Cougar said in press statements that the holding of early elections is what prompted the government to take this step, especially since Parliament must dissolve itself before the elections, and this matter requires preparing the budget for next year so that there is no confusion in this regard.

Noting that “the next parliament can vote on the 2022 budget if prepared by the Al-Kazemi government.” He pointed out, “the government’s intention to prepare a supplementary budget in the middle of this year and send it to Parliament with the rise in oil prices.”

Chairman Of The Finance Committee: Resolution 315 Is Not Legally Legal

Pratha News Agency68 2021-04-15   The head of the Parliamentary Finance Committee, Haitham al-Jubouri, confirmed today, Thursday, that decision 315 is not legally legal from a legislative point of view.

Al-Jubouri said in a post on his (Facebook) page that “the 2021 budget voted by Parliament included financial allocations for all contracts, including those covered by Resolution 315,” indicating that this Resolution 315 is not legal from a legislative point of view.

He added that “any decision that does not include financial coverage is contrary to the Federal Financial Management Law, which necessitated the existence of a financial allocation to cover any decision with financial implications in the budget laws before its approval.”

The Issuance Of Two New Judgments Against The Former General Manager Of The Iraqi Trade Bank

Pratha News Agency79 2021-04-15   The Federal Integrity Commission announced, on Thursday, the issuance of two new sentencing decisions, serving a seven-year prison term for the former Director General of the Iraqi Trade Bank, TBI; For damaging public money.

The authority said in a statement that “the investigation department of the authority, and in the course of talking about the details of the two cases it investigated and referred to the judiciary, reported that the Rusafa Criminal Court, which is specialized in integrity cases, issued a seven-year prison sentence against the former director general of the Iraqi Trade Bank Based on the provisions of Article (340) of the Penal Code, explaining that the ruling came against the background of the issue of exempting one of the private companies from all the benefits resulting from its documentary credit amounting to (12,840,951) million dollars.

In a related context, the Chamber affirmed that “the same court, in another case, issued a verdict serving a seven-year prison sentence against the convicted person; According to the provisions of Article 340 of the Penal Code, against the background of the issue of granting banking facilities worth $ 59,762,65 million to a private company, ”noting that“ granting these facilities was contrary to the bank’s rules and instructions. ”

She added, “The Rusafa Criminal Court specialized in integrity cases, after reviewing the evidence obtained in the form of the audit report and the investigation report of the Integrity Commission, in addition to the statements of the legal representative of the bank and the administrative investigation that showed the defendant’s negligence, as well as the presumption of his escape from justice, and reached sufficient conviction for a conviction. In accordance with the provisions of Article (340) of the Penal Code; So I decided to sentence him in absentia to seven years in prison for each of the two cases.

In mid-March, the commission announced the details of its appeal against the release decision issued against the convicted person in the case of granting a loan without adequate guarantees, indicating that the Karkh Criminal Court / First Commission, and following the discriminatory decision issued based on the appeal filed by the Commission, issued a new sentence in absentia that provides for a term of imprisonment. Seven years right on him.

The National Approach Bloc Presents 14 Proposals To Combat Corruption

Political   Thursday 15 April 2021 | 10:33 a.m.| Views: 182   The head of the National Approach bloc, Ammar Tohme, issued a press release on Thursday about measures to combat financial and administrative corruption .In the statement, Tohme said,

“The culture and practices of selfishness in positions of power and the resulting appropriation of public capabilities and the spread of corruption in a very disturbing manner have damaged the entire existence of the Iraqi state, and there must be a sincere and serious political will in combating the roots and ills of this subversive phenomenon. Among the useful suggestions in this field :

  1. Disseminating and deepening the correct understanding of the responsibility of managing public affairs, and the inclusion of educational and educational curricula, which reinforces the feeling of public responsibility .
  2. The rule of law and the enhancement of state prestige are essential pillars in the fight against corruption in all its forms, prevention and removal
  3. Strengthening popular oversight and accountability committed to the constitution and legal means and to benefit from their momentum to ensure the fulfillment of all stages of monitoring, prosecution and accountability for those involved in stealing public money .
  4. Adopting competence, integrity and patriotism as basic qualifications for those who stand up to assuming higher civilian and military positions .
  5. Submitting the final accounts for the past years as soon as possible to the Iraqi Parliament, and a commitment to present the following at the time specified by the law .
  6. To oblige all state ministries and institutions to declare their earmarked revenues and disbursement resources, along with all measures and decisions related to spending, on their official sites and accessible to public opinion, as well as the competent supervisory authorities .
  7. Forming specialized investigation teams to review and audit all major contracts concluded by ministries over the past years and strive to recover stolen and wasted funds .
  8. Activating the work of parliamentary committees and obligating them to study the budget of the ministries corresponding to their competence before preparing the budget and monitoring its implementation with quarterly reports submitted by the ministries to them on a quarterly basis indicating spending and its resources and the nature of contracts and the parties benefiting from privatization .
  9. Governance of the financial activity of state institutions in all its chapters, including procedures for collecting revenues, auctions of hard currency, and numbers of employees to form a clear and comprehensive picture of the paths of managing public money .
  10. Leaving the expenditures tab with vague, outline addresses that collects the necessary and other things, as it hinders monitoring and verification of the efficiency and safety of both allocations and expenditures .
  11. In parallel to these measures, the government must adhere to publishing the basics of revenue and spending addresses in an accessible manner that makes it easy for the general public to follow it up and know it, so it becomes an additional entry point to strengthen the broad control over public funds .
  12. The commitment of all ministries and state institutions to publish the stages of preparing large and important contracts, especially those related to managing oil and gas wealth, such as oil licensing contracts, regional contracts with foreign companies, major service contracts, and how to make decisions, controls and standards that have been adopted so that they are all accessible to scientific elites, civil society organizations, and public opinion in general. .
  13. The officials of the regulatory authorities are appointed according to a mechanism that takes into account career progression, fair history, and competence witnessed in combating corruption, and the termination of assigning these positions in the way of the agency that weakens the interlocutors to manage these sites .
  14. Commitment to fair, declared, clear and strict standards in the distribution of national wealth to all Iraqis.

A Slight Decline In Oil Prices, Despite Expectations Of Demand

Thursday 15, April 2021 09:32 | Economical Views: 288   Baghdad / NINA / Oil prices fell today, Thursday, despite their stability near their highest levels in one month, after futures contracts jumped, as the International Energy Agency and others raised expectations for oil demand as major economies recovered from the epidemic.

Brent crude fell 4 cents to 66.54 dollars a barrel by 05:19 GMT, after rising 4.6 percent on Wednesday and closing at the highest level since March 17.

US West Texas Intermediate Bay futures were down 11 cents, to $ 63.2 a barrel, after rising 4.9% in the previous session.

The Energy Information Administration (EIA) said on Wednesday that US crude inventories fell by 5.9 million barrels last week, more than double analysts’ expectations.

The Energy Information Administration report said: “The gasoline that was supplied to the market last week, an indicator of US fuel consumption, rose to 8.9 million barrels per day, the highest level since August.”

The Organization of Petroleum Exporting Countries (OPEC), which has withheld supplies, along with other producers, including Russia, this week raised its forecast for global oil demand this year.

OPEC expects demand to rise by 70,000 barrels per day from last month’s expectations. Global demand is likely to increase by 5.95 million barrels per day in 2021./7 End

Half Of It Is For Gulf Countries … Disclosure Of Iraq’s Debts

Time: 04/15/2021 04:04:48 Read: 7,917 times   {Economist: Al Furat News} The advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced that Iraq’s internal and external debts amounted to 73 billion dollars that must be paid, in addition to 40 billion dollars in outstanding debts to eight countries.

Saleh said in a press statement, “The largest indebtedness to Iraq was before 1990, when its debts were more than 128 billion dollars, and according to the Paris Club agreement of 2004, it was agreed that all creditors write off 80 percent or more of each debt in return for Iraq to conclude agreements.” With these countries separately. ”

He added, “There are countries that have waived their debt a hundred percent and the other part of 90 percent, and of this debt only 3 billion remains and it is about to expire,” indicating that “the problem is that there are nearly two billion debts to the private sector in the form of bonds, and these are liquidated.” During the coming years. ”

And Saleh added, “There is an amount outstanding for 8 countries, including the Gulf and some of them foreign, and these countries do not want to settle, even though they are subject to the Paris Club, and they are debts made during the Iran-Iraq war, and this is estimated at 40 billion dollars,” indicating that “part of this amount, estimated at 40 billion dollars.” One billion dollars belongs to Arab countries, namely Kuwait, Saudi Arabia, Qatar and the Emirates, and we believe that this debt will be written off 100 percent.

He pointed out, “There are other foreign debts that have accumulated due to the war on ISIS and are estimated at 12 billion, and that there are debts due to development projects provided by some global funds, so this debt is estimated at 23 billion dollars owed except for 40 billion dollars pending.”

Iraq’s internal debt is very large and amounts to about 50 billion dollars, but what distinguishes this debt is that it is a debt owed by the government.   LINK

Integrity: Bringing In The Governor Of Kirkuk And A Number Of Officials On Charges Of Harming Public Money

Time: 04/15/2021 11:26:41 Read: 2,080 times (Baghdad: Al Furat News) Today, Thursday, the Federal Integrity Commission announced the issuance of a summon order against the governor of Kirkuk and a number of department directors in the provincial office. Against the background of

A statement issued by the Investigation Department of the Authority, Al-Furat News received a copy of it, stated that “the judiciary issued a summon order to the governor of Kirkuk and a number of officials in the provincial office, who are: directors of government contracts departments, general planning and engineering, as well as the former director of the accounts department.” , Pointing out that “the recruitment order was issued against the background of irregularities that marred some maintenance and furnishing work in the governorate.”

The department added that “the recruitment order issued based on the provisions of Article (340) of the Penal Code was for breaches of furnishing the new governorate building, waiting lounges, and delivering electricity.”

The authority had previously announced the issuance of a recruitment order and a travel ban for the governor and director of school buildings in the governorate, while it indicated that arrest warrants had been issued for (23) employees in the case of establishing schools in the manner of pre-built construction in them.  LINK

Barzani: There Must Be A Radical Solution To All Problems With The Federal Government

Time: 04/15/2021 13:59:27 Read: 1,807 times   {Politics: Al Furat News} The President of the Kurdistan Regional Government, Masrour Barzani, stressed, on Thursday, that a radical solution should be found for all problems with the federal government.

In a statement, the Euphrates News received a copy of it, the regional government stated, “The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, received the Russian Ambassador to Iraq, Maxim Maximov, on the occasion of the end of his duties, and in the meeting, which was attended by the Russian Consul General in Erbil, Oleg Vladimirovich Levin, they discussed Means of strengthening bilateral relations between the Kurdistan Region and the Russian Federation, as well as discussing the latest developments in the Iraqi arena and the region in general.

The Russian ambassador praised “the successful experience of the Kurdistan Region, especially in the areas of reconstruction and economic growth, which makes it a model for the rest of Iraq. He also expressed his country’s readiness to strengthen relations with the Kurdistan Region at all levels.”

The Prime Minister praised “the ambassador’s efforts during his tenure to develop bilateral relations, wishing him success in his future duties,” noting that “the prime minister shed light on the relationship between the Kurdistan Region and the federal government, stressing the need to reach a radical solution to all problems on The basis of the constitution, in addition to the importance of strengthening coordination between the two sides in order to combat terrorist threats. ”

The statement indicated that “the meeting dealt with the file of the upcoming elections in Iraq and the efforts made to combat the outbreak of the Corona pandemic.”   LINK

Oil Is Discussing With American Companies To Buy Exxon Mobil’s Stake In West Qurna / 1 Field

Time: 04/15/2021 12:23:13 Read: 2,158 times   {Economical: Al Furat News} The Ministry of Oil announced that it is studying with American companies the possibility of buying Exxon Mobil’s share in West Qurna / 1 field in Basra Governorate.

And local press reports mentioned Exxon Mobil’s intention to sell its shares in the Basra fields in the south of the country, and abroad, without giving a reason for that.

In January 2010, ExxonMobil Iraq, a subsidiary of ExxonMobil International, signed an agreement with the South Oil Company of the Iraqi Oil Ministry to rehabilitate and redevelop the West Qurna-1 field in southern Iraq.    LINK

Oil Is Discussing With International Companies The Implementation Of Investment Projects In The Field Of Gas

Time: 04/15/2021 16:12:05 Read: 247 times   {Local: Al Furat News} The Ministry of Oil confirmed, on Thursday, the implementation of investment projects to develop the oil and gas industry through cooperation with specialized international companies.

In a statement, the Euphrates News received a copy of it, the ministry stated that “Oil Minister Ihsan Abdul-Jabbar Ismail received the delegation of the Russian Lukoil Oil Company, which included the First Vice President of LUKOIL for Extraction Affairs outside Russia {Denis Rogachev} and the General Director of LUKOIL Mid East Ltd. {Yegor Zubarev} and Edward Chiloyantes, director of the branch of LUKOIL (Overseas Iraq) exploration company. During the meeting, prospects for current and future investments in the field of clean energy and the promotion of gas investments were discussed. ”

The statement continued that “the delegation expressed his country’s desire to increase joint cooperation with Iraq to develop the oil sector and the energy sector,” indicating that “current and future projects of the company inside Iraq were also discussed,” explaining that “the company delegation expressed its desire to expand the horizons of its work in whom During the promotion of joint cooperation. ”   LINK

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