Wednesday Morning Iraq Economic News Highlights 12-7-22
The Dollar Is Close To 151 Thousand Dinars On The Baghdad Stock Exchange
2022-12-07 04:49 Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar continued to rise today, Wednesday, in the main stock exchange in the capital, Baghdad, to approach 151,000 dinars.
Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded, at 1:40 pm, 150,750 Iraqi dinars for 100 US dollars.
While the prices this morning at the opening were 150,200 Iraqi dinars for 100 US dollars.
Our correspondent indicated that the buying and selling prices increased in the exchange shops in the local markets in Baghdad, where the selling price reached 151,000 Iraqi dinars for every 100 US dollars, while the buying prices reached 150,000 Iraqi dinars for every 100 US dollars. LINK
Parliamentary Finance: The Budget Will Reach Parliament Early Next Year
political| 10:42 – 07/12/2022 Baghdad – Mawazine News The Finance Committee in the House of Representatives set, on Wednesday, the date for the arrival of the draft federal budget law to Parliament, while explaining the reasons for the delay in completing its project so far with the government.
Committee member Mueen Al-Kadhimi said, “The draft budget will reach Parliament early next year, as it has not yet been completed by the Ministries of Finance and Planning due to the high claims that have arrived from ministries and provinces, amounting to 222 trillion dinars, and need to be reviewed and amended.”
Al-Kazemi added, “The House of Representatives will start its legislative recess on the 8th of this month, and when the bill reaches the House of Representatives, the House will take two months or more to study, discuss and vote on it,” according to the official news agency. Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=213446
Parliamentary Finance: The Draft Budget Will Reach The House Of Representatives Early Next Year
Money and business Economy News-Baghdad The Finance Committee in the House of Representatives set, today, Wednesday, the date for the arrival of the draft federal budget law to Parliament, while explaining the reasons for the delay in completing its draft so far with the government.
A member of the committee, Mueen Al-Kadhimi, told the Iraqi News Agency (INA), that “the draft budget will reach the House of Representatives early next year, as it has not yet been completed with the Ministries of Finance and Planning due to the high claims that have arrived from the ministries and provinces, amounting to 222 trillion dinars, and needing review and modification.
Al-Kazemi added, “The House of Representatives will start its legislative recess on the 8th of this month, and when the draft law reaches the House of Representatives, the House will take two months or more to study, discuss and vote on it.” Views 116 Added 12/07/2022 – 11:35 AM Updated 12/07/2022 – 2:45 PM
https://economy-news.net/content.php?id=31208
A New Rise In Dollar Exchange Rates
Economie| 12:35 – 07/12/2022 Baghdad – Mawazine News Today, Wednesday, the exchange rates of the dollar witnessed an increase in the local stock exchange.
And the selling prices of the dollar were recorded at 150,400 dinars per 100 dollars, while the buying prices of the dollar were recorded at 150,250 dinars per 100 dollars. Ended 29 / M99
https://www.mawazin.net/Details.aspx?jimare=213454
Oil and gas law is subject to agreement between the region and the center
The oil and gas law is one of the most prominent laws that would reach solutions to it, between Baghdad and Erbil, especially after the recent moves that preceded and followed the formation of a government and the exchange of visits between the two sides.
In light of tangible political openness and cooperation to resolve outstanding issues betweenBaghdadAnd Erbil, there have been common understandings that cover a long period of disputes. The Iraqi arena has recently witnessed political movements between the region and the federal government in order to resolve the file of the oil and gas law, which is one of the most prominent laws that would contribute to solving many problems related to the energy sector between Erbil and Erbil. Baghdad.
The Oil and Gas Law, which stipulates that the responsibility for managing the oil fields in the country must be entrusted to a national oil company that is supervised by a federal council specialized in this matter.BaghdadIt is responsible for the oil in the region, which Erbil rejects and considers it a measure that violates the constitution. And while the Parliamentary Legal Committee ruled out passing the law at the present time without political consensus, an advisor revealed Kurdistan Regional Government Energy Affairs announced the formation of several delegations to visit Baghdad In order to negotiate and agree on the wording of the law before presenting it to Parliament for its passage.
The absence of an oil and gas law is one of the most prominent problems facing the oil and gas sector after the year 2003. Three drafts of the bill were sent to Parliament 2007 ago, but differences between the political parties prevented it from being passed.KurdistanTo issue his own oil and gas law, which in turn the Federal Court issued a decision to annul it. LINK
Regarding Oil And Gas.. Alekti Reveals An “Ideal Solution” To End The Dispute Between Baghdad And Erbil
Sumerian special 2022-12-07 | 03:49 1,326 views He added, “The Kurdish people are concerned and fearful of managing oil in the region, but foreign oil companies have studies and the ability to produce oil.”
Article 111 of the Iraqi constitution defines that: Oil and gas are the property of all the Iraqi people in all regions and governorates.
As defined in Article 112 First: The federal government shall manage the oil and gas extracted from the existing fields with the governments of the producing regions and governorates, provided that its revenues are distributed in an equitable manner commensurate with the population distribution throughout the country, while specifying a share for a specific period for the affected regions, which have been deprived of them in a manner unfairly committed by the previous regime, and which were subsequently damaged, in a way that ensures balanced development for the different regions of the country, and this shall be regulated by law.
Second: The federal government and the governments of the producing regions and governorates shall jointly draw up the necessary strategic policies for the development of oil and gas wealth, in a way that achieves the highest benefit for the Iraqi people, adopting the latest techniques of market principles and investment encouragement. LINK
Parliamentary Finance Sets The Date For The Arrival Of The Draft Budget Law To The House Of Representatives
Economie 10:41 – 2022-12-07 The Finance Committee in the House of Representatives set, today, Wednesday, the date for the arrival of the draft federal budget law to Parliament, while explaining the reasons for the delay in completing its draft so far with the government.
A member of the committee, Mueen Al-Kazemi, said, “The draft budget will reach Parliament early next year, as it has not yet been completed with the Ministries of Finance and Planning due to the high claims that have arrived from ministries and provinces, amounting to 222 trillion dinars, and need to be reviewed and amended.”
Al-Kazemi added, “The House of Representatives will start its legislative recess on the 8th of this month, and when the draft law reaches the House of Representatives, the House will take two months or more to study, discuss and vote on it.” https://kirkuktv.net/AR/Details/11332
Oil Prices Fall To Their Lowest Level In 11 Months
Economie| 10:49 – 06/12/2022 Baghdad – Mawazine News International oil prices fell to their lowest levels since January, during trading today, Tuesday, to continue their downward trend, as growing concerns about global demand offset any upward effects as a result of the Western “price ceiling” plan.
Brent crude futures fell $3.67, or 4.44%, to $79.01 a barrel, the lowest level since January 10, and West Texas Intermediate crude fell $3.26, or 4.24%, to $73.67.
China’s service sector activity hit a six-month low, and European economies slowed due to rising energy costs and higher interest rates, which is worrying investors about levels.
Crude oil futures on Monday posted their biggest daily decline in two weeks, after US services industry data indicated a strength in the US economy and led expectations of higher-than-expected interest rates recently.
The US dollar index fell on Tuesday, but was still supported by bets on rising interest rates, after the largest rise in two weeks on Monday. The rise in the dollar makes oil denominated in the US currency more expensive for buyers who hold other currencies, which reduces demand. Ended 29/h
https://www.mawazin.net/Details.aspx?jimare=213426
Brent At Less Than $ 70 A Barrel
Energy Economy News-Baghdad Oil prices fell at the close of trading on Tuesday amid fears of an economic recession that left investors in a state of uncertainty.
Upon settlement, Brent crude futures fell by $3.33, or 4%, to $79.35 a barrel, to close below $80 a barrel for the second time this year.
US West Texas Intermediate crude futures fell by $2.68, or .53%, to $74.52 a barrel.
The drop in prices by more than 1% over 3 consecutive sessions caused oil prices to give up most of the gains they achieved during 2022. Views 115 Added 12/07/2022 – 9:26 AM Updated 12/07/2022 – 2:14 PM https://economy-news.net/content.php?id=31205
