Iraqi News Saturday Evening 12-3-22
Tlm724 Administrator Bondlady’s Corner
The Minister Of Oil Confirms The Agreement On The Commitment Of The Organization Of Petroleum Exporting Countries (OPEC) To The Production Rates And The Quantities Of The Planned Cuts
Saturday 03 December 2022 16:57 | politicalNumber of readings: 140 Baghdad / NINA / – The Deputy Prime Minister and Minister of Oil affirmed the commitment of the member states of the organization to the production rates, rates and quantities of reduction decided until the end of 2023.
He said during his participation in the ministerial meeting of the member states of the Organization of Petroleum Exporting Countries “OPEC” via the electronic circuit, according to a statement by the Ministry of Oil: The meeting affirmed the keenness of OPEC members to work on stabilizing the oil markets and achieving the required balance.
Abdul-Ghani indicated that the meeting program included discussion and review of the oil market developments, in addition to discussing a number of axes on the agenda of the meeting and taking decisions on them.
On the ministerial meeting of “OPEC Plus”, the Minister of Oil said: The meeting will be held tomorrow, Sunday, via the electronic circuit, and includes a review of developments in the oil market and the challenges facing producers, and an emphasis on the decisions of “OPEC Plus” regarding reducing production to the prescribed quantities, to achieve more stability and balance in the market. oil.”/ End h
Chihod Demands The Establishment Of An Iraqi National Mobile Phone Company
Saturday 03 December 2022 11:51 | Economical Number of readings: 318 Baghdad / NINA / The representative of the State of Law coalition, Muhammad Saadoun Al-Sayhoud, called on the government to establish an Iraqi national mobile phone company.
Al-Saihoud said in a press statement today that: the establishment of an Iraqi national mobile phone company has become an urgent necessity to reduce the violations of mobile phone companies that are now operating without supervision or accountability in draining the country’s money despite their poor quality and their practice of extortion policy, and therefore the increase in the prices of packages and communication in exchange for lower prices The packing cards are nothing but conclusive evidence of the power of these companies and their lack of compliance with the state’s standards and controls.
” He added, “The establishment of an Iraqi national mobile phone company will lead to an increase in the state’s revenues instead of going into the pockets of investors who steal the people’s livelihood. Rather, it will be a real competitor to them.” in the country instead of their hegemony and their reluctance to pay the debts owed by them to the state, which amounted to billions of dinars.
The Exchange Rates Of The Dollar Against The Dinar
Economie| 10:55 – 03/12/2022 Baghdad – Mawazine News Today, Saturday, the exchange rates of the dollar witnessed a slight decrease in the local markets.
The selling price of the dollar was 149,500 dinars per 100 dollars, while the buying price of the dollar was 149,400 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=213094
Expert: The Price Of A Barrel Of Oil May Exceed $100
Economie| 02:06 – 03/12/2022 Follow-up – Mawazine News, head of the Center for Energy Development, Kirill Melnikov, said that oil prices in the global market may exceed $100 a barrel, after Western countries imposed a ceiling on the price of Russian oil at $60.
According to the expert, this decision may lead to a reduction in the quantities of Russian oil exported abroad.
Yesterday, Friday, the European Union countries agreed to impose a ceiling on the price of Russian oil, which is transported by sea, at $ 60 a barrel, and the Council of the European Union is scheduled to approve the decision today, Saturday.
It is expected to implement an adjustment mechanism that will allow the price of Russian oil to be at least 5% lower than the market price.
The expert added: “The ceiling itself does not matter, because Russian companies will not sell oil according to it in any way. Because of this, Russian oil supplies will be cut off with the help of European shipping and insurance companies, which may reduce exports from Russia by 1-1.5 million barrels per day in the period.” December to January This will probably push oil prices above $100 a barrel.” Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=213113
The Central Bank Sets A Date For Offering The New 20,000 Dinars Currency
Economie| 06:55 – 02/12/2022 Baghdad – Mawazine News The Central Bank of Iraq confirmed, on Friday, that the cash reserve exceeded 160% of the value of the Iraqi dinar, and while confirming the increase in the cash reserve exceeding $90 billion, it expected the 20,000 currency to be offered at the end of next year, confirming at the same time that it would grant 15 trillion dinars. As loans for projects in four areas.
And the central bank advisor, Ihsan al-Yasiri, said, “For the first time, the central bank’s reserves exceeded the threshold of 90 billion dollars, as this number is very large and indicates a barrier to the recovery of the economy and a great support for the value of the Iraqi currency,” noting that “the value of the Iraqi currency or the balance exceeded 160.” %, as the value of the Iraqi dinar amounted to more than one and a half dinars.
He added, “The Iraqi currency is now witnessing a significant rise and recovery, as it is considered one of the strong international currencies, although it is not an international currency for circulation,” noting that “the government and the Ministry of Finance have an opportunity to assign fragile and poor groups and retirees with low salaries and those covered by social protection and retirees through this Funds by allocating part of it within the 2023 budget.
Regarding banking control procedures, Al-Yasiri said: “The government program is concerned with controlling government banks, and private banks, since the latter are part of the banking sector and are covered by government control measures.”
He pointed out that “the Central Bank has shifted from its traditional policy, which is represented by pursuing stability and issuing cash and others, to a large development institution, as it launched a development fund whose funds exceeded 18 trillion dinars,” noting that “this fund contributed to bridging the government financing gap as a result of security and economic challenges and price drops.” successive oil since 2014 until now.
He continued, “The bank launched initiatives and projects through loans that exceeded 15 trillion dinars for industry, agriculture, housing and trade projects,” noting that “the initiatives also included empowering women and unemployed youth,” in addition to allocating billions of dinars from bank funds to support cultural institutions, including rehabilitation. Al-Mutanabbi Street, churches, mosques and theatres.
Regarding the new 20,000 dinars category, Al-Yasiri stressed that “the 20,000 dinars category is an intermediate currency between 25,000 and 10,000, as it will have a role in redrawing the structure of banknotes,” noting that “this category will be acceptable and with high security specifications.”
And he continued, “The issuance of this category is not related to the budget, since the central bank has an independent budget, but rather it is related to printing procedures, choosing colors and security marks,” suggesting, “The issuance of this currency at the end of 2023.” Ended 29 / H
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
