Iraqi News Thursday Afternoon 8-11-22
Tlm724 Administrator Bondlady’s Corner
Central Bank: Cash Reserves Rise To 82 Billion Dollars
Economie| 11:05 – 11/08/2022 Baghdad – Mawazine News The Central Bank of Iraq revealed, on Thursday, that cash reserves had risen to $82 billion, as well as an increase in its gold balance to record levels.
The official spokesman for the Central Bank, Omar Assem, said in an interview with the official newspaper “Al-Sabah”, followed by Mawazine News, that “the bank’s reserves currently amount to 82 billion dollars.”
He added, “Iraq also advanced 10 ranks in the table of countries with the most gold in possession, to become the 30th globally and 4th in the Arab world, as its total possessions exceeded 130 tons, after purchasing an additional 34 tons, and this came within the bank’s policy to achieve stability and ability to face changes.” local and international economics. https://www.mawazin.net/Details.aspx?jimare=202097
The Central Bank Reveals That Cash Reserves Have Risen To $82 Billion
Thursday, August 11, 2022 9:14 am Baghdad / National News Center The Central Bank of Iraq revealed that cash reserves have risen to $82 billion, as well as an increase in its gold balance to record levels.
Expectations indicate that reserves will grow more and reach the threshold of $90 billion by the end of this year, a record level for Iraq.
The official spokesman for the Central Bank, Omar Asim, said in a statement to the official newspaper he followed, that “the bank’s reserves currently amount to 82 billion dollars.”
He added that “Iraq also advanced 10 ranks in the table of countries with the most gold, to become the thirtieth in the world and fourth in the Arab world, as its total possessions exceeded 130 tons, after purchasing an additional 34 tons, and this came as part of the bank’s policy to achieve stability and ability to face economic changes. local and international.”
Gold is one of the most important assets held by central banks and international financial institutions, due to its acceptance at the level of international dealings. https://nnciraq.com/146456/
Integrity Commission: Many Institutions Deal In Bribery And Obstruct Transactions
Today, Thursday, the Integrity Commission announced the recovery and prevention of waste of nearly two trillion dinars, while noting that most institutions refrain from implementing electronic work.
The head of the commission, Alaa Al-Saadi, said in a press conference held at the commission’s headquarters during the media of its semi-annual report, “We look to the House of Representatives, with what it possesses from the supervisory side and the executive authority, to make Iraq an environment that expels corruption,” noting that “the commission in its work depends on professionalism and submits its report and does not hesitate to In mentioning names whenever they are authorized.
He added, “Many institutions trade bribes and obstruct transactions, and began to lose the confidence of the citizen,” noting that “most government institutions deliberately refrain from implementing electronic work and put up arguments to evade the application of these systems.”
He continued, “The authority was able, during the first half of this year, to recover and prevent wasting (1,773,380,063,273) dinars of public funds to the account of the public treasury through its deterrent and preventive measures,” noting that “those amounts represent what has been actually recovered to the public treasury account, Or the money that it revealed, or the money that judicial rulings have been issued to return it and which prevented and stopped its waste.
He stated that “the penal cases in the first half of this year included 280 ministers and special degrees, general managers and those of their rank,” explaining that “these were distributed by 39 ministers and those of his rank, and (241) those with special grades, general managers and those of their rank.”
And he indicated, “The commission considered, during the first half of this year, (34,209) communications, reports and criminal cases, distributed among (8,877) communications, (10,535) reports, and (14,797) criminal cases.”
Regarding the investigative side, Al-Saadi pointed out that “the commission received 8,877 communications and 10,535 reports, and resulted in 14,797 cases, of which 7,739 people were accused.”
While the director general of investigations at the authority, Karim Al-Ghazi, said during the conference: “The number of defendants referred to the trial court – misdemeanors and felonies during the first half of 2022 amounted to 1754.”
He added, “Its investigations led to the issuance of (731) arrest warrants by the judicial authorities, of which (396) were executed, including (Cool ministers and those of their rank, and (53) of those with special degrees, general managers and those of their rank.”
Regarding the recovery files, the director of the recovery department in the commission, Moataz Al-Abbasi, confirmed that “the Integrity Commission worked during the first six months of this year on (58) files related to fugitives wanted in corruption cases, 23 of which were prepared, including (11) files against people with special degrees, general managers and those of their rank, in addition to (104) files to recover smuggled money, in which (166) judicial decisions were issued.
He pointed out that “in the same period (9) drafts of cooperation agreements and memoranda of understanding were prepared with Iraqi, Arab and international ministries and governmental institutions, one of which was concluded. https://www.radionawa.com/all-detail.aspx?jimare=30679
International Forecasts For Rising Oil Demand In 2023
Energy Economy News-Baghdad The International Energy Agency said high summer temperatures and rising gas prices boosted the use of oil for power generation, boosting demand but masking weaknesses in economies grappling with recession fears .
The Paris-based agency stated in its monthly oil report, in which it raised its forecast for demand in 2022 by 380,000 barrels per day, “Natural gas and electricity prices rose to new record levels, spurring the switch from gas to oil in some countries .”
It also expected a rise in oil demand in 2023 by about 2.1 million barrels per day to exceed pre-pandemic levels, and also indicated that global oil supply will record new records in July, exceeding pre-Corona levels .
The International Energy Agency warned that “these exceptional gains, which are largely concentrated in the Middle East and Europe, mask relative weakness in other sectors,” noting the decline in fuel use in road transport in developed countries and a slowdown in growth by the end of the year .
On the other hand, the IEA report showed that China has overtaken Europe to become the main destination for Russian oil .
Russian oil export revenues fell by two billion dollars in July to 19 billion dollars, primarily due to the drop in prices .
Meanwhile, global oil supplies in July exceeded their high levels before the Corona epidemic, supported by higher-than-expected production for Russia, whose exports fell by 115,000 barrels per day in July to 7.4 million barrels per day, a decrease of 600,000 barrels per day. Only since the beginning of the year .
Views 121 Added 08/11/2022 – 1:30 PM Update 08/11/2022 – 5:57 PM
https://economy-news.net/content.php?id=29280
The Iraqi Stock Exchange Index Declined With The Conclusion Of The First Week Of August Trading
Market Economy News / Baghdad During the second week of August 2022, the Iraq Stock Exchange organized four trading sessions from Sunday 07/08/2022 to Thursday 08/11/2022, as the trading session was not organized for Tuesday 09/7/2022 because it coincided with an official holiday. During this week, the following indicators were achieved :
The number of shares traded during this week amounted to more than (1) billion shares , while the value of shares traded this week amounted to more than (2) billion dinars .
And the trading index closed in the market for the first session of the week at (569.70) points, while the index closed at the end of the week at (564.40) points, achieving a decrease of (0.94%) from its closing in the first session .
And executed during the week more than (1600) contracts of buying and selling on the shares of companies listed in the market .
Views 12 Added 08/11/2022 – 4:49 PM Update 08/11/2022 – 5:45 PM
https://economy-news.net/content.php?id=29285
In Detail.. The Council Of Ministers Takes A Package Of Decisions
Reconstruction and building Economy News – Baghdad The Council of Ministers, during its session held today, Thursday, issued several decisions.
The Prime Minister’s Media Office said in a statement, “The Council of Ministers held its twenty-ninth regular session, headed by Prime Minister Mustafa Al-Kazemi, and hosted the Governor of Basra, who in turn provided an extensive explanation of the service reality of the province, the great challenges it faces, and the most important needs and requirements that enable the improvement of infrastructure. And raising the level of services there, and the most important solutions developed to address the existing problems.”
The statement added, “After discussing what was presented, the Council of Ministers voted to meet the needs of Basra Governorate from service projects provided by its governor.”
The Council of Ministers, which is entrusted with the minister’s powers to administer the Ministry of Electricity, hosted the meeting, where it reviewed the current reality of electricity, the problems facing the ministry, and the mechanisms adopted to overcome the problems of the electrical system, in order to ensure the provision of electrical energy to the maximum.
The session witnessed a review of the epidemiological report, the continuous efforts of the Ministry of Health in following up on the Corona pandemic, and providing the necessary medical supplies to confront it.
After discussing the issues on the agenda, the Council of Ministers issued, according to the statement, the following decisions:
First / Approval of the recommendation of the Ministerial Council of Economy regarding my projects (consulting mega projects in the Ministry of Planning), and (monitoring and controlling mega projects/advisory tasks for the ministries of (Finance and Planning).
Second / agree to the following:
- Authorizing the Undersecretary of the Ministry of Foreign Affairs for Political Planning Affairs, the authority to negotiate and sign draft memoranda of understanding with the countries mentioned in the paragraph below.
- The Ministry of Foreign Affairs approves the entry stamp for holders of diplomatic, service and special passports for nationals of the following countries: (China, Russia, the Sultanate of Oman, the State of Qatar, the Arab Republic of Egypt, and the Republic of Sudan), upon entry and exit to and from Iraqi airports and border ports, on the basis of the principle of treatment Likewise.
- The Ministry of Foreign Affairs adopts what is stated in Paragraph (1) above, in coordination with the Ministry of Interior, and implements this with other countries that wish to conclude such an agreement in the future with the Republic of Iraq.
Third / Approval of the amendment of Paragraph (Third) of Cabinet Resolution (94 of 2010) regarding the recommendations of the Job Grade Review Committee, as follows:
- Launching the promotion of the preparatory certificate holders exclusively to the (third) degree, provided that this does not result in the creation of new job titles.
- The Ministry of Finance, the Ministry of Planning and the Federal Service Council shall undertake to amend the job description approved by the ministries and entities not affiliated with a ministry in a manner that ensures that those mentioned in paragraph (1) above of this decision reach the third degree.
- This decision shall be implemented upon approval of the next federal general budget law.
Fourth / agree to the following:
- Adoption of the recommendation of the Ministry of Foreign Affairs regarding the opening of an embassy of the Republic of Iraq in the Irish capital Dublin instead of a general consulate, based on the provisions of Articles (25) and (26) of the Foreign Service Law No. (45 of 2008), provided that opening it does not lead to an increase in Numbers of workers in diplomatic missions, taking into account the notes of the legal department in the General Secretariat of the Council of Ministers, which are confirmed by its memorandum numbered (M/S/2/4/11/191 LQ) dated June 23, 2022.
- The required amounts shall be financed from within the budget law allocations for the year 2023.
Views 12 Added 08/11/2022 – 5:22 PM Update 08/11/2022 – 5:45 PM
https://economy-news.net/content.php?id=29287
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