KTFA

Samson: Abadi: We have achieved victories and we have carried out economic reforms despite the financial crisis

13th September, 2017

Prime Minister Haider al-Abadi said on Wednesday, September 13, 2017, that the world has become confident in our economy and the financial crisis has affected the situation in the country, but we have achieved victories and carried out economic reforms.

Abadi’s office said in a statement that “the Prime Minister, Dr. Haider Abadi, held a meeting Wednesday with the governor and members of the Dhi Qar provincial council in the presence of a number of deputies.”

Abadi stressed that “we are pleased to be here in Dhi Qar civilization, culture, sacrifice and courage,” noting that “the sons of this province were proactive in defense of Iraq and Harabh when a number of its areas to occupy gangs and called on terrorists, and offered martyrs and wounded to liberate Their country, and without these sacrifices for victory. ”

“We are in the last phase of liberating our territory and we will continue to train and train our forces because terrorism is trying and will continue to try and we must beware of it,” he said.
“The care of the people and the treatment of their issues and the provision of services to them are priorities of the official, indicating that the financial crisis affected the situation, but we have won and we have won economic reforms and the world has become confident of the Iraqi economy.”

He reiterated the “unity of the country and the unconstitutionality of the referendum of the Kurdistan region,” noting that “we live in one country and can not take unilateral action   LINK
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Samson: Ten years in prison for an employee of the Ministry of Commerce accused of embezzlement

13th September, 2017

The Office of the Inspector-General of the Ministry of Commerce announced Wednesday that a member of the General Company for the trade of construction materials had been sentenced in absentia for 10 years for embezzlement.

The office said in a statement received by Al-Ghad Press that “through the monitoring and inspection efforts of the owners of the office was revealed cases of manipulation and forgery by the employee in the General Company for the trade of construction materials, and the issuance of a court ruling on embezzlement financial amounts for the sales of construction materials company in Diyala “He said.

The statement added that “after these procedures was referred to the administrative investigation and then completed the legal and investigative procedures and forwarded the case to the Integrity Commission and the competent courts,” adding that “the Criminal Court of Diyala issued an absentee verdict against the employee accused of cases of manipulation and forgery.”

The statement said that “the Office continues to monitor the irregularities and accounting for the defaulters and refer them to the competent courts to be a deterrent to anyone who begs himself fraud and manipulation of public money.   LINK

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Samson:  60 Saudi companies participating in Baghdad International Fair

13th September, 2017

The General Company for Trade and Trade Services of Iraq, the Ministry of Commerce, on Wednesday, a large and large participation of Arab and foreign companies and countries in the forty-fourth session of the Baghdad International Fair, which will be held under the slogan “Free our land and your cooperation building.”

“This session will see for the first time the participation of the Kingdom of Saudi Arabia in more than 60 Saudi investment companies in all areas of architecture, commerce and economy with an area of ​​more than 1,200 square meters,” said the company’s general manager, Mohammad Hatem.

He added that “the upcoming exhibition will create important opportunities in the exchange of experiences between Iraqi and Saudi businessmen and establish a strong partnership in support of the private sector and investment projects.

Hatem pointed out that the 44th session of the Baghdad International Fair will start on the 21st of October 2017 and continue until the 30th of this month.

It is worth mentioning that Saudi Trade Minister Majid al-Qasabi recently visited Iraq as part of an official delegation. The visit resulted in an agreement with the Iraqi side on the need for both sides to open up in all economic and investment fields and activate trade exchange between the two countries.     http://bit.ly/2y5FkN8

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Samson:  Advisor to Abadi: The budget of 2018 includes reducing the operating expenses of the three presidencies

2017-09-13 at 13:39 (Baghdad time)

The economic adviser to Prime Minister Haider Abadi, the appearance of Mohammed Saleh, on Wednesday, the reduction of operating expenses for the three presidencies in the budget of 2018.

“The budget includes reducing operating expenses for the three presidencies and maximizing non-oil resources to contain any additional deficit, according to the directives of the prime minister,” he said in an interview with Mawazine News.

He added that “the country is going to maximize its resources and control the spending and reduce it as necessary,” pointing out that “the volume of funds allocated is similar to the budget of 2017 and estimated at 110 trillion dinars.”   LINK

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Samson:  Waseet Trade signs an economic cooperation protocol with China

13th September, 2017

The Wasit Chamber of Commerce confirmed on Wednesday the signing of an economic cooperation protocol with the Chinese side. The agreement included a number of important decisions concerning economic exchange.

“The protocol was signed for the economic cooperation between the Wasit Chamber of Commerce and the Chinese side represented by the Chairman of the Arab-Chinese Cooperation Council. The agreement included a number of issues that enhance the means of trade and economic cooperation between the two sides,” the chamber said in a statement received by Al-Ghad Press.

“The agreement included the establishment of exhibitions and urged the Chinese side to respect the quality of Chinese goods exported to Iraq, as most Chinese goods do not match their specifications with those exported to European countries, which makes the Iraqi consumer does not want these goods, although Chinese factories produce high quality goods exported to markets European and American. ”  “During the protocol, the demand for the opening of workshops for after-sales services, especially for Chinese cars, as most of the backup materials supplied by some traders are not from the parent companies, and poor quality.”

The Iraqi market is witnessing a large spread of Chinese goods, and at reasonable prices, which leads the responsible parties to contract with Chinese companies in order to import goods.     LINK

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Evenstar:  There is a whole lotta International hints here from a country who won’t admit to being “international”   just makes you go “hmmmmm”

Samson:  The establishment of an international stadium for the oil club with a capacity of 9500 spectators

13th September, 2017

Announced that the Ministry of Oil, Wednesday, for the establishment of an international stadium for the club of oil with a capacity of 9,500 spectators, noting that it comes from reality in order to promote sports.

The oil minister Jabbar Ali al-Allaibi said in a statement received a copy of the Sng that “was approved for the establishment of stadium oil sports club with a capacity of 9500 spectators, and was approved to establish stadiums of the South Oil Club capacity of 5600 spectators according to international standards and standards,” noting that ” In recognition of the significant support provided by the Ministry of sports clubs oil. ”

“The Ministry’s support for sports activities is continuing and will not stop, in order to encourage those sectors to promote sports reality and an important incentive to achieve local, regional and international achievements to raise the name of Iraq high in all forums.” 

The Stadium of the Sports Club and the stadiums of the South Oil Club Stadium will be implemented in accordance with the instructions and specifications of the International Federation of Football (FIFA) and the Asian Federation, and will carry out the work of international companies specialized in the construction of international stadiums, and it is hoped that these stadiums receive all local and international games.

http://sngiq.net/wordpress/?p=82889

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Comparing currency exchange companies?

These 8 hints can save you money on your next international transfer.

We compare international money transfer companies you can use to exchange U.S. dollars to a foreign currency so you can send money overseas. Not all international transfer companies are created equal, especially when you compare your bank against what else is out there. Read these 8 hints so you can avoid the traps of currency exchange.

1. Don’t just use your bank

Banks are notorious for overcharging consumers, this applies to international payments as well as everyday banking services. Banks charge a commission when you send money overseas, and their foreign exchange rates are usually 3% or more above the market rate. Compare international transfer companies and spend a couple of minutes opening an account and you’ll be rewarded with a better deal.

Banks vs. Money Transfer Providers
USD to EUR
Big Bank
International Money Transfer Service

Exchange rate
$1 = €0.918
$1 = €0.942

Transfer fee
$20.00
$6.96

Amount received when
transferring $600
€530.80
€558.24

2. Sometimes it’s worth paying a higher fee to get a better exchange rate

Don’t go for the first money transfer company you see just because they don’t charge a fee on your international transer. Often these companies offset this by offering a poor exchange rate. Before you agree to the terms, make sure you compare several providers to ensure you’re getting the best deal.

USD to EUR
Transfer company 1
Transfer company 2

Exchange rate
$1 = €0.945
$1 = €0.903

Transfer fee
$20
$3.99

Amount received when
transferring $600
€547
€537.81

As you can see, although the second transfer company charges a lower transfer fee, its lower exchange rate makes the first transfer company a better deal.

3. Don’t be fooled by the online calculator

Many of the online calculators give an indicative rate only. You’re shown an example rate based on the market rate, and it usually won’t be the rate you will actually get when you request a full quote to send money overseas.

You will usually see an asterisk next to the company’s online currency calculator if an indicative rate is used, as shown in the screenshot below when we used the WorldFirst currency converter to transfer money to France.

4. If you have time, you can save yourself a lot of money

You can send cash to someone on the other side of the world in minutes with help from companies such as Western Union and MoneyGram. But you’ll pay a premium for speed. If it’s not urgent, it’s worth using a foreign exchange provider such as OFX, HiFX, TransferWise or CurrencyFair. These companies can send money to an overseas bank account in a couple of days, and you’ll pay a lower fee and get a better rate.

5. A limit order can save you money if the transfer isn’t urgent

A limit order lets you target a rate to trade at. If you have time to wait and watch foreign exchange markets before executing your international money transfer, a limit order ensures you get the best rate you can. When your targeted rate becomes available, your currency exchange account manager (not available with banks for personal customers) will execute your trade.

6. Protect yourself from losing out with a stop loss order

A stop loss order works in the opposite way as a limit order. Instead of targeting a “best rate scenario,” a stop loss order protects you from worst case scenarios. If the exchange rate drops to a certain level, your trade is executed to prevent further losses. You can use limit and stop loss orders at the same time.

7. Compare, compare and compare again

Don’t go for the first company you see if you want to send money overseas. Make sure you compare deals side-by-side and make an informed decision when you accept a quote from a company and pay for a transfer.

8. What about asking for a better deal?

If you’re a corporate customer and you deal in large transactions or recurring payments, you may want to see if any of the currency exchange companies can cut you a deal. Worst case scenario: they say no. Best case scenario: you save money.

https://www.finder.com/comparing-currency-exchange-companies