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Tishwash: In numbers … big changes in the 2021 budget

A source in the Parliamentary Finance Committee revealed, on Wednesday, the pressure of expenditures in the draft federal budget law for the year 2021 to reach 127 trillion dinars, and the price of a barrel of oil was raised to $ 45.

The source told {Al-Furat News} that “the Finance Committee, after continuous meetings, pressured expenditures from 164 trillion dinars to 127 trillions.”

The source added, “The price of a barrel of oil has been raised from 42 dollars to 45 dollars, and expenditures are recycled to support provincial projects,” noting that “the committee is working to complete the budget during the next week to be presented to Parliament for a vote.”

It is noteworthy that the Parliamentary Finance Committee has been meeting on a daily basis for about two weeks to complete the discussion and amendment of the 2021 budget bill and has hosted dozens of officials   link

Tishwash:  Iraqi merchants are calling for the Central Bank to raise the value of the Iraqi dinar against the dollar

Iraqi merchants are calling for the Central Bank of Iraq to raise the value of the dinar against the dollar, in conjunction with the questioning of the bank’s governor in the parliament session today.

The correspondent of Iraq Channel 24 says during his coverage in front of the bank building in Baghdad: These demands from merchants come in conjunction with Iraq’s intention to request loans from the World Bank and also after identifying the real stock of money in Iraq as well as many economic problems that occurred in the market

The correspondent of Iraq 24 confirmed that the Iraqi street is waiting for what will result from the questioning of the governor of the bank in the parliament session, especially since there is a divergence of views between the representatives and the various parliamentary bodies.

He adds: Some explain that the attempts to raise the value of the Iraqi dinar are to reduce the value of the deficit in the 2021 budget, which rose with the increase in the value of the dollar during the last period and the reform white paper policy.

The correspondent states: Citizens today are living with high prices for goods and commodities after raising the exchange rate of the dollar while continuing to express their great dissatisfaction with this decision, which it is hoped will be changed or withdrawn after today’s questioning session in Parliament for the governor.   link

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Tishwash:  High oil prices in world markets

Oil prices rose today, Wednesday, after industrial data showed that US crude stocks fell last week, and China, the second largest consumer of oil in the world, recorded the lowest daily rise in Corona cases, which boosted hopes for a recovery in demand On oil.

Brent crude futures rose 24 cents, or 0.34 percent, to $ 56.88 a barrel at 05:14 GMT, adding to a slight gain on Tuesday.

U.S. West Texas Intermediate crude futures rose 26 cents, or 0.49%, to $ 52.87 a barrel.

The American Petroleum Institute (API) reported that crude oil inventories in the United States, the largest consumer of oil in the world, fell by 5.3 million barrels in the week ending January 22.

However, the data showed gasoline inventories rising by 3.1 million barrels, which was much more than expected.

The American Petroleum Institute data showed that stocks of distilled fuel, which include diesel and heating oil, rose 1.4 million barrels, compared to expectations of withdrawing 361 thousand barrels, and refining operations decreased by 76 thousand barrels per day.

Analysts said that after jumping to multi-month highs at the start of the year, it appears that the rise in oil prices has run out and has restricted its range in recent weeks.

However, prices were supported by easing concerns about a sharp drop in travel during the Lunar New Year in China, the world’s largest oil importer, as the number of Corona cases appears to be declining.

Official data showed 75 new confirmed cases of COVID-19 on Wednesday, the lowest daily rise since January 11

Typically, hundreds of millions of Chinese travel during the Lunar New Year holiday, which begins on February 11. However, government officials urged people not to travel to help contain the recent increase in coronavirus infections   link

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Tishwash:  yes it should be JP Morgan but I don’t change their articles  bad translation

THE ARAB MONETARY FUND ANNOUNCES THE SIGNING OF A COOPERATION AGREEMENT WITH “GB MORGAN” BANK TO LAUNCH SETTLEMENT SERVICES IN US DOLLARS THROUGH THE “BUNA” ARAB PAYMENTS PLATFORM

The Arab Monetary Fund announced today that it has signed a cooperation agreement with the international American bank, “GB Morgan”, under which the “GB Morgan” bank will provide settlement of payments in US dollars through the “Buna” Arab Payments platform, affiliated to the Regional Corporation for Clearing and Settling Arab Payments. By the fund.

The inclusion of the US dollar as a settlement currency in the “Buna” platform for Arab payments in the list of settlement currencies listed on this platform, in cooperation with “GB Morgan” Bank, represents an additional achievement in the path of “Buna” to be the payment platform of choice in the various markets of the Arab region. This cooperation with JP Morgan will enhance the value provided by the Buna platform and the advanced services it provides for clearing and settling payments, thus contributing to supporting opportunities for developing intra-Arab trade and investments and linking with the main trading partners of Arab countries.

Likewise, this cooperation between the Arab Monetary Fund and the American Global Bank, “GB Morgan”, would provide added value to all eligible banks operating in the Arab countries and abroad to participate in the “Bunaa” Arab Payments platform, because the platform provides these banks with the possibility of making transfers in US dollars. Safe, reliable and highly efficient. This embodies the vision of the “Bunaa” Arab Payments platform, as an integrated payment system specialized in providing cross-border settlement services, to enable and assist financial and banking institutions to send and receive intermittent payments in real time, in line with relevant international standards, principles and compliance requirements.

On this occasion, the Arab Monetary Fund expresses its confidence in the services provided by GBMorgan, which will contribute to enhancing the framework and scope of work of the “Bunaa” Arab Payments platform and supporting its success story. It should be noted that it was previously announced that settlement of payments in the currencies of the UAE dirham, Saudi riyal and Egyptian pound was made available through the “Buna” Arab Payments platform.  link