Tuesday Afternoon Iraq Economic News Highlights 9-20-22
Zidane And The American Ambassador Discuss The Claims Of Oil Companies In The Commercial Court
2022-09-20 | 04:43 663 views Today, Tuesday, the President of the Supreme Judicial Council, Faiq Zeidan, discussed during his meeting with the US Ambassador to Iraq, Alina Romanowsky, the follow-up of the lawsuits of oil companies in the Commercial Court.
And the judiciary’s media stated, in a statement received by Alsumaria News, that “the President of the Supreme Judicial Council, Faeq Zaidan, received the US ambassador to Iraq, Alina Romanowski, and discussed with her the follow-up of the lawsuits of oil companies in the Commercial Court.” LINK
In The Document, The Minister Of Finance Assigns A Person Brought From The Judiciary The Duties Of A General Manager!
Policy 2022-09-20 | 04:51 2,399 views Today, Tuesday, the Minister of Finance, Ihsan Abdul-Jabbar, assigned one of the personalities recruited by the Supreme Judicial Council with the tasks of a director general in the ministry.
According to a document received by Alsumaria News, Abdul-Jabbar decided to “assign the so-called “Muhammad Hamza Mustafa” to the position of Director General of the Legal Department to run the work of the General Authority for Taxes, in addition to his work tasks.”
Yesterday, the Baghdad / Al-Karkh Appeal Court decided to bring in the named Muhammad Hamza Mustafa and others, on charges of committing functional violations. LINK
The Minister of Interior grants officers a forward period of six months and associates two years
2022-09-20 | 04:52 714 views Alsumaria News – Security Minister of Interior Othman Al-Ghanimi granted, today, Tuesday, a presentation to the officers and employees of the ministry.
In a statement received by Alsumaria News, the ministry stated, “Al-Ghanimi granted the officers a period of six months, and two years for the ministry’s employees.”
He added, “The grants came for their efforts to secure the forty-year visit.” LINK
Parliamentary Finance: Food Security Allocations Will Remain In The Ministries And Can Be Disbursed After The End Of The Fiscal Year
Economie 14:51 – 09-19-20-20 The Parliamentary Finance Committee indicated, on Monday, that the food security allocations will remain in the ministries, pointing out that they can be spent even after the end of the fiscal year.
Jamal Cougar, a member of the Parliamentary Finance Committee, said, “The control of the ministries over obtaining their own financial allocations within the Emergency Food Security Support Law depends on their procedures and speed in withdrawing the amounts allocated to them and placing them in their accounts until all procedures are completed, or as a project in progress, these amounts were not It rotates, meaning that it will remain in the ministry and can be spent even after the end of the fiscal year.
He added, “But if the ministry did not take such measures, the allocated amount will be revolved and returned to the state treasury.” https://kirkuktv.net/AR/Details/9016
Al-Kazemi’s Advisor: The Growth Rate Expected To Be Achieved During The Current Year Is Unprecedented
Economie 12:43 – 09-19-20-20 The financial advisor to the Prime Minister, Mazhar Muhammad Salih, described, on Monday, the rate of growth expected to be achieved during the current year as “unprecedented”, expecting the rates to continue to increase during the next year.
Saleh said in a statement to the official newspaper, that “the World Bank estimated that growth rates in Iraq’s GDP would reach 9 percent during 2022, according to a report it launched during the current year.”
Salih considered, “the expected unprecedented growth rate in Iraq,” attributing the reasons for achieving it to “the increase in the quantities produced of oil and their reaching broader production capacities after removing the restrictions imposed by the (OPEC +) agreement in the year 2020, which provides for reducing the quantities of oil produced by about an increase One million barrels to remove the glut in the oil market during the Corona crisis.
He explained, “Economic growth in Iraq decreased to (minus 11) percent during the Corona pandemic, after the sectors of the economy stopped working for about six months,” adding that “the operation of the economic sectors made the economic cycle of Iraq reach its peak, according to World Bank estimates. , as reinforced by the high growth figure in GDP.
Salih expected that “the estimates of growth during the year 2023 range between 5-4%, a percentage that we find reasonable after the stability of the economic cycle, especially since the growth rate exceeds the growth rate of the population in all cases, which should be reflected on the relative economic well-being.” LINK
The Stock Market Announces The Creation Of An Electronic Portfolio To Regulate Trading And Encourage Investment
Economie| 12:33 – 09/20/2022 Baghdad – Mawazine News The Iraq Stock Exchange announced, today, Tuesday, the creation of an electronic portfolio to organize trading and encourage investment.
A statement to the market stated, “Based on the work plans of the Securities Commission and the Iraq Stock Exchange – for the year 2022, the Iraq Stock Exchange and Elaf Islamic Bank signed a license contract (Al-Hafiz Al-Amin) after the bank completed the requirements of the instructions of the Custodian, the most important of which is obtaining the approval of the Central Bank of Iraq and obtaining the approval of the Securities Commission.
The Ministry of Finance and the Board of Governors of the Iraq Stock Exchange, preparing the headquarters and staff of the Custodian of the Two Holy Mosques, passing training, and creating a back office system to manage the tasks set forth in the instructions from the outputs of market and bank systems.”
The statement explained, “The tasks of (the Custodian) include contracting with investors wishing to receive the following services: opening an account for securities for each investor, keeping the securities, notifying the investor of all decisions and actions taken by joint stock companies related to the rights associated with his securities, and notifying the investor of all The operations and transfers that took place on his account within a working day, in accordance with the notification method agreed upon between them, and providing the investor with a detailed monthly account statement showing all the transactions and transfers that took place in his account, with a statement of his current balance of securities or cash.
He added, “This step is considered positive, as it works to attract Iraqi, Arab and foreign investors from outside Iraq, organize the mechanisms of capital movement in accordance with the mechanisms and rules of the banking system, organize the affairs of Iraqi and foreign investors who desire the type of services provided by the trustworthy custodian that is recognized in the Arab and international financial markets, and organize the relationship with foreign banks in directing the funds prepared for investment in the shares of Iraqi joint stock companies,” noting that “there will be licenses for other Iraqi banks very soon to expand the required structure for the base of services required – for the trustworthy custodian – for the same goals and tasks that it performs – set out in the instructions above.” LINK
Gold Prices Rise In Local Markets
Economie| 12:10 – 09/20/2022 Baghdad – Mawazine News, “Foreign and Iraqi” gold prices rose slightly in the local markets in the capital, Baghdad, and in the markets of Erbil, the capital of the Kurdistan Region, today, Tuesday (September 20, 2022).
And recorded gold prices in the wholesale markets on River Street in the capital, Baghdad, the selling price of one weight of 21 caliber of Gulf, Turkish and European gold is 343 thousand dinars, and the purchase price is 339 thousand, while the selling prices for yesterday were 342 thousand dinars per weight.
And that the selling price of one 21-carat weight of Iraqi gold also increased at 313,000 dinars, and the purchase price reached 309 thousand.
With regard to gold prices in the goldsmiths’ shops, the price of selling a weight of Gulf 21-carat gold ranges between 345 thousand and 355 thousand dinars, while the selling price ranged from the weight of Iraqi gold between 315 thousand and 325 thousand dinars. https://www.mawazin.net/Details.aspx?jimare=205969
Low Dollar Exchange Rates In Local Markets
Economie| 09:37 – 09/20/2022 Baghdad – Mawazine News, the dollar exchange rates fell, today, Tuesday, on the Iraqi Stock Exchange. Selling price: 147.700 dinars per $100 purchase price: 147.600 dinars per $100 https://www.mawazin.net/Details.aspx?jimare=205950
Slight Increase In Global Oil Prices
Economie| 08:52 – 09/20/2022 Follow-up – Mawazine News: Oil prices rose slightly, after declining at the beginning of this morning due to the lack of supply and the lifting of closures on some Chinese cities, which pushes the second largest oil consumer to import more oil.
Brent crude futures for November settlement rose 14 cents, or 0.1 percent, to $92.14 a barrel by 04:20 GMT. US West Texas Intermediate crude for October delivery was $85.59 a barrel, up 3 cents.
https://www.mawazin.net/Details.aspx?jimare=205944
Oil Denies Smuggling Of Crude In Southern Iraq
Economie| 05:41 – 09/19/2022 Baghdad – Mawazine News On Monday, the Ministry of Oil issued a statement denying the occurrence of smuggling of crude from its export outlets in southern Iraq.
According to a statement received by “Mawazine News”, “The Oil Ministry affirms once again its respect for freedom of publication, expression, opinion and other opinion, and its high appreciation for the ethical and professional approach pursued by many sober national media and satellite channels, and at the same time rejects cases of extortion, misinformation, lies and cheap methods practiced by them. Some satellite channels affiliated with the local media for narrow accounts and interests.
The statement continued, that at a time when the Ministry of Oil refused to respond to the lies, slanders, allegations, fabricated news, and abusive programs – paid for – that were published and broadcast daily by some channels known for extortion and suspicious of the crumbs of some suspicious local and foreign parties or financed by illegal money or by The pockets of the chorus of the corrupt and plundering the wealth of the people whose interests have been damaged by the procedures of the ministry and the government for many topics and issues that serve the public interest, as well as the great financial revenues and achievements in the oil sector, as these satellite channels have been busy distorting and falsifying facts on the public, throughout the past period.
According to the statement, the ministry stresses an important fact that it was aware that it would face a cheap and paid media campaign by some satellite channels known for this disgraceful behavior, and also by some of those affiliated with the political class, especially after the decision of the Federal Court assigning the Ministry of Oil the responsibility of protecting the oil wealth.
Implementation of the court’s decisions, and its officials confronting this task with patriotism, courage and professionalism in a precedent that is the first of its kind and with vigorous and responsible follow-up to protect public money, in addition to the bold reform measures taken by the Minister of Oil and the Deputy Minister of Finance in both ministries.
In response to the claim of one of these channels that oil smuggling operations take place from export outlets in southern Iraq, and with the knowledge of the ministry, and this is inaccurate, the ministry calls on the concerned authorities and the just judiciary to investigate the allegations and allegations of this satellite channel and take legal action against them, and the Ministry of Oil will soon By revealing some documents that explain the parties behind the extortion of the ministry, and the motives that make these satellite channels carry out these unprofessional and ethical practices.
The statement called on the Media and Communications Commission to take appropriate measures against some satellite channels that practice the process of extortion, misinformation and falsification of facts to the public, and broadcast fabricated and inaccurate reports and news, for cheap goals, motives and goals, and to take its real and strict role by putting an end to these practices that harm the public interest and stress The Ministry of Oil does not give in to the blackmail of these suspicious channels, no matter how high they are.
The Ministry of Oil appealed to the esteemed Supreme Judicial Council, to kindly instruct the competent courts to resolve the cases brought by the Ministry of Oil against the above channels and to take legal measures against anyone who begs himself to offend government institutions and harm the public interest, while it appealed to the national media to be careful in the circulation of information about the oil sector.
And to put the interest of Iraq above all considerations, and to adopt transparency in the circulation of information, and to derive it from its reliable sources. https://www.mawazin.net/Details.aspx?jimare=205903
Al-Kazemi’s Advisor: The Growth Rate Expected To Be Achieved During The Current Year Is Unprecedented
Economie| 11:39 – 09/19/2022 Baghdad – Mawazine News, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, described, on Monday, the rate of growth expected to be achieved during the current year as “unprecedented”, expecting the rates to continue to increase during the next year.
Saleh said in a statement to the official newspaper and followed by / Mawazine News /, that “the World Bank estimated that the growth rates in Iraq’s gross domestic product would reach 9 percent during 2022, according to a report it launched during the current year.”
Salih considered, “the expected unprecedented growth rate in Iraq,” attributing the reasons for achieving it to “the increase in the quantities produced of oil and their reaching broader production capacities after removing the restrictions imposed by the (OPEC +) agreement in the year 2020, which provides for reducing the quantities of oil produced by about an increase One million barrels to remove the glut in the oil market during the Corona crisis.
He explained, “Economic growth in Iraq decreased to (minus 11) percent during the Corona pandemic, after the sectors of the economy stopped working for about six months,” adding that “the operation of the economic sectors made the economic cycle of Iraq reach its peak, according to World Bank estimates. , as reinforced by the high growth figure in GDP.
Salih expected that “the estimates of growth during the year 2023 range between 5-4%, a percentage that we find reasonable after the stability of the economic cycle, especially since the growth rate exceeds the growth rate of the population in all cases, which should be reflected on the relative economic well-being.” Ended 29/N33 LINK
