Iraq Economic News and Points To Ponder Saturday Afternoon 6-22-24

Parliamentary Economy Explains...Does The Fluctuation Of Oil Prices Affect The Economy Of Iraq?

Money  and business  Economy News – Baghdad  The Parliamentary Oil and Gas Committee confirmed today, Saturday, that the fluctuation in oil prices does not affect the Iraqi economy.

Committee member Ali Saadoun Al-Lami said, “The 2023 budget tables came to the House of Representatives when a barrel of oil was calculated at 74 dollars.”

Al-Lami added, “There are 10 moving dollars on the price of a barrel, so the rise or fall of oil prices does not affect the economy.”     06/22/2024 - https://economy-news.net/content.php?id=44491

Adviser To The Prime Minister To Nina: The Government Is Seeking New, More Effective Mechanisms To Reduce Corruption

Saturday 22, June 2024 17:12 | Political Number of readings: 120

Baghdad / NINA / An advisor to the Prime Minister confirmed that the government is seeking to find new oversight mechanisms to reduce and prevent corruption.

Muayyad Al-Saadi, Advisor to the Prime Minister for Oversight and Integrity Affairs, stated in a statement to the National Iraqi News Agency ( NINA ), that “

the directives of Prime Minister Muhammad Shia Al-Sudani to the regulatory bodies, led by the Federal Integrity Commission, crystallized into preparing a national strategy in consultation with the Federal Financial Supervision Office, where There is a process of organizing and evaluating quarterly and annually for the purpose of avoiding and addressing negatives.”

He added, "The Integrity Commission is now embarking on preparing the national strategy in a systematic, practical and objective manner to prevent and reduce corruption practices, after it has made important strides with the national anti-corruption strategy for the years 2021-2024, which has resulted in reducing the practices and phenomena of corruption in government institutions." .

The Prime Minister’s advisor stressed, “The Integrity Commission, with the participation of the supervisory bodies and the Federal Financial Supervision Bureau, seeks to find new and effective mechanisms that will reduce and prevent corruption, as well as reduce the phenomena and practices of corruption in all government joints and institutions.”/End 5

https://ninanews.com/Website/News/Details?key=1133548

Communications: Iraq Succeeds In Regaining Its Membership In The Universal Postal Union

Posted On06-22-2024 By Sotaliraq   Minister of Communications Hiyam Al-Yasiri announced Iraq's success in regaining its membership in the Universal Postal Union.

A statement from the ministry said, “Minister of Communications, Hiyam Al-Yasiri, announced Iraq’s success in restoring its membership in the Universal Postal Union, after it had been canceled as a result of previous administrations’ failure to pay Iraq’s financial contributions to the union, which resulted in a huge debt that led to the cancellation of Iraq’s membership in the union.” In addition to the accumulation of financial interest as a result of late payment of these debts.”

He added, “The Minister’s continuous follow-up, guidance, and direct supervision resulted in the achievement of this material and moral achievement for Iraq, thanks to the support of Prime Minister Muhammad Shiaa Al-Sudani, and the tireless and persevering efforts made by the Director General of the Postal and Savings Company and the company’s staff,”

stressing that “dedicated communication was made with most of The administrations of countries around the world to convince them to vote in favor of returning membership to Iraq, and to drop the delay benefits resulting from its debts.”

Al-Yasiri stressed, according to the statement, “that she will continue implementing the strategy she adopted to restore the effectiveness of the Iraqi post, restore citizen confidence in government mail again, and bring it into every Iraqi home.”   LINK

Basra Crude Recorded New Gains Over The Past Week

Economy | 09:32 - 06/22/2024   Follow / Mawazine News.. Basra crude recorded gains last week of more than 3%, with global oil recording strong weekly gains for Brent and West Texas Intermediate crude.

Basra Heavy crude closed in its last session yesterday, Friday, at an increase of 49 cents, reaching $82.71, and recorded weekly gains of $3.27, equivalent to 3.23%.

While Basra Average crude closed in its last session at an increase of 49 cents, reaching $85.56, and also recorded weekly gains amounting to $3.27, or the equivalent of 3.30%.

Global oil prices fell by 1% at the end of trading yesterday, Friday, but recorded strong weekly gains for Brent and West Texas Intermediate crude oil.

Brent crude recorded weekly gains of 3.1%, while West Texas Intermediate crude recorded weekly gains of 3.4%.   https://www.mawazin.net/Details.aspx?jimare=250029

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Provoking Thoughts and Points To Ponder On Adversity:

 If you have to be careful because of oppression and censorship, this pressure produces diamonds. - Tatyana Tolstaya

Adversity is another way to measure the greatness of individuals. I never had a crisis that didn't make me stronger.  - Lou Holtz

It is not in the still calm of life, or the repose of a pacific station, that great characters are formed. ... Great necessities call out great virtues.  - Abigail Adams

Of all the advantages which come to any young man ... poverty is the greatest. - Josiah G. Holland

My luck was my father not striking oil... we'd have been rich. I'd never have set out for Hollywood with my camera, and I'd have had a lot less interesting life. - King Vidor

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