Bondlady’s Corner Friday Afternoon

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Iraqi News Friday Afternoon 5-13-22

TLM724 Administrator BondLady’s Corner

The United States Provides $140 Million To Support The Iraqi Economy

Friday 13 May 2022 11:48 | economic Number of readings: 329  Baghdad / NINA / – The US Embassy in Baghdad announced the provision of 140 million dollars to support economic growth in Iraq.


And the embassy stated in a post on its Facebook page, today, Friday: “The United States of America has allocated 140 million dollars to support economic growth in Iraq, especially Iraqi businesses and businessmen.”


“We have inspired entrepreneurs, many of whom have overcome obstacles to build new businesses, hire their Iraqi colleagues, and contribute to a prosperous, secure and stable future for Iraq,” she added. LINK


The Rise In The Exchange Rates Of The Dollar In The Local Markets


Economie| 09:51 – 13/05/2022   Baghdad – Mawazine News  The dollar exchange rates recorded, today, Friday, an increase in the circulation of the Iraqi local markets.    And the selling prices of the dollar were recorded at 148.750 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 147.750 dinars per 100 dollars.   LINK


Brent Crude Rises Above $109 A Barrel


Economie| 08:53 – 13/05/2022   Follow-up – Mawazine News, Bloomberg reported, that oil rose to consolidate its gains in the wake of the European Union’s efforts to ban Russian oil, while the spread of the new Corona in China raises fears of the economic consequences of any possible closure, and during that time, the price of East Texas reached 107 dollars a barrel.


Some EU countries have said the bloc may have to consider delaying the embargo on Russian oil if it cannot get Hungary to agree to the embargo.


Beijing authorities have denied rumors that the capital will be closed, as virus restrictions remain in Shanghai.


Oil is up more than 40% this year as economies recover from the pandemic, although the virus outbreak in China and Russia’s war in Ukraine have contributed to trade volatility since late February. The global benchmark Brent crude is still in a bullish regressive structure, which indicates market tightness.


“Risks are rising that Brent crude will once again test the upside of its recent range around $116 per barrel,” said Jeffrey Halley, chief market analyst at Oanda Asia Pacific Pte. “The pressure on diesel and distillate supplies globally is another supporting factor.” Ended 29/N33   LINK

The Finance Committee Headed By Al-Kaabi Hosts The Minister Of Electricity


political| 12:55 – 13/05/2022   Baghdad – Mawazine News, The Parliamentary Finance Committee, headed by Hassan Karim Al-Kaabi, hosted today, Friday, Minister of Electricity Adel Karim, regarding the actual need for funds that contribute to increasing energy production.


A statement by the Media Department of the House of Representatives, a copy of which was received by Mawazine News, stated that “the Finance Committee headed by Al-Kaabi hosts the Minister of Electricity, regarding the actual need for funds that contribute to increasing energy production.” LINK


Al-Kaabi: The Food Security Law Is Not A Substitute For The 2022 Budget


The head of the Parliamentary Finance Committee, Hassan Al-Kaabi, confirmed that the Food Security Law is not a substitute for the 2022 budget.


The Media Department of the House of Representatives stated in a statement, “The Finance Committee held a meeting chaired by Representative Hassan Al-Kaabi and the presence of most of the committee’s members to mature the emergency support law for food security and development before submitting it to the presidency of the Council.”


The statement added, “The committee reviewed its vision on the specific financial allocations, the file of foreign debt repayment, support for the investment sector and the implementation of ongoing projects in the governorates, as well as the allocations of the reconstruction and compensation fund, the agricultural sector and addressing poverty.”


Al-Kaabi stressed, according to the statement, the necessity of “completing the law in its final form to submit it to the presidency of the Council and to include it in the agenda of next Saturday’s session to vote on and approve it,” noting that “the law supports food security and development to reach self-sufficiency in light of the financial abundance achieved.”


He pointed out that “the law is not a substitute for the budget law for the year 2022 and ends with the end of the year or the approval of the general federal budget law.”


The statement indicated that “the committee voted during the meeting on a number of articles of the law and postponed some of them until the discussions are completed. It also decided to form sub-committees from the Finance Committee to follow up the procedures for implementing the paragraphs and articles contained in the disbursement of the financial amounts that were monitored to the concerned authorities, in addition to its decision to host the Minister of Electricity regarding The energy file and payment of the dues to purchase imported gas and emergency needs.   LINK


Drafting New Controls To Regulate The Investment Process In Iraq


In its first meeting, chaired by the Chairman of the National Investment Commission


Posted On2022-05-13 By Sotaliraq  Suha Daoud Carpenter… The Investment Licenses Amendment Committee sets new controls to organize the investment process in Iraq


The Special Committee began studying the requests to amend the investment license received from the investment authorities in the governorates, including the National Investment Commission, based on Cabinet Resolution No. (94 of 2022), which is an alternative to the Diwani Order Committee (51) of 2019, its first meeting headed by Suha Daoud Najjar, head of the National Investment Commission, with membership in The General Director of the Legal Department in the General Secretariat of the Council of Ministers, the General Director of the State Real Estate Department in the Ministry of Finance, the General Director of the General Government Contracts Department in the Ministry of Planning, the Director General of the Investments and Foreign Transfers Department at the Central Bank, and the Assistant Director General of the Cabinet Affairs Department and Committees in the General Secretariat of the Council Ministers and the Director General of the Legal Department of the Authority who are competent in this regard.


The committee discussed a number of controls and instructions related to amending investment licenses and setting approved controls that would regulate the process of amending investment licenses to ensure the smooth completion of projects and reduce corruption.


The reasons for the obstacles that faced the work of the previous (51) Committee were also discussed and addressed, and a number of controls were amended, which would contribute to revitalizing the existing investment process in Iraq.


The committee decided to hold its meetings on a weekly basis to discuss the projects proposed for amendment, as well as discuss the topics on its agenda, issue new instructions and controls, and address the failures and obstacles facing the progress of investment licenses.


Department of Relations and Information at the National Investment Authority   LINK

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