Iraq Economic News and Points To Ponder Monday Afternoon 10-5-26

Parliament: The 2027 Budget Will Reach The House Of Representatives In The Middle Of This Month

Money and business   Economy News – Baghdad   The Parliamentary Finance Committee confirmed today that the draft budget for 2027 will reach the House of Representatives in the middle of this month, while pointing to the work to provide the necessary financial allocations to stabilize contracts and daily workers in all provinces of Iraq.

MP Ahmed al-Masari said that "the Finance Committee will be working to provide the necessary financial allocations to stabilize contracts and daily procedures in all provinces of Iraq," noting that "the budget will reach the House of Representatives in the middle of this month."

In the same context, said a member of the Parliamentary Economy Committee Omar Mohammed, that "the budget 2027 will remain with the Ministry of Finance to complete the procedures related to it," noting that "the ministries are required to provide their needs," as well as the existence of talks between the federal government and the Kurdistan Regional Government on the budget.

He added that "the draft budget includes, according to the information circulating to him, the installation of contracts and daily workers, as well as the appointment of the first graduates within the third meal   https://www.economy-news.net/content.php?id=74636

Parliament To Host Finance Minister Tomorrow To Discuss 2027 Budget

Money and business   Economy News – Baghdad  The Parliamentary Finance Committee announced on Monday that the House of Representatives will host the Minister of Finance Faleh Al-Sari and the advanced staff in the ministry on Tuesday to discuss the draft general budget law for 2027.

A member of the committee, Riad Tamimi, said in a statement to the official agency: "The House of Representatives will host at the invitation of the Finance Committee on Tuesday, the Minister of Finance, Faleh Al-Sari, and the advanced staff in the ministry to discuss the draft budget law for 2027 before its arrival in the House of Representatives."

He added that "the Finance Committee in accordance with Article 61 of the rules of procedure is supposed to be aware of the course of the preparation of the budget," noting that "the hosting aims to question the minister about the mechanism of preparing the budget and the extent of its coverage of contracts, wages and grades."

He pointed out that "there are those who speak in the words of the minister on the budget and therefore the committee will host the minister to find out all the details related to it," stressing that "the Finance Committee has prepared the agenda of hosting and proposed questions https://www.economy-news.net/content.php?id=74649

After the absence of half a century, Iraqi naval carrier returns to the Gulf with a flight from Jebel Ali to Umm Qasr

Money and business   Economy News – Baghdad   The Iraqi Line is preparing to resume its commercial navigational activity in the Gulf region, after a pause that lasted for more than half a century, within the directions of the Ministry of Transport to activate national vectors and enhance its presence in the regional trade movement.

The Ministry of Transport said that the move came under the guidance of the Minister of Transport, Wahab al-Hassani, as part of the ministry's plans to reactivate the national maritime carrier and develop its operational capabilities in the transport of containers and cargo.

The first flight of the Iraqi maritime route is scheduled to start on October 15, from the port of Jebel Ali in the UAE towards the port of Umm Qasr, marking the return of the national carrier to the maritime transport lines in the Gulf.

The return of the line aims to enhance the movement of goods through Iraqi ports, support commercial activity with the countries of the region, as well as expand Iraq's presence in regional maritime transport lines and provide a national option for the transport of containers and cargo.

The ministry pointed out that the last flights of Iraqi cargo ships in the region date back to the mid-sixties of the last century, making the resumption of flights a new station in the path of reactivation of national carriers and the development of the Iraqi maritime transport sector https://www.economy-news.net/content.php?id=74642

Construction: 60 Projects Within The Five-Year Plan To 2030

Money and business    Economy News – Baghdad   The Ministry of Construction, Housing and Public Municipalities announced the details of its five-year plan for the period from 2026 to 2030, which includes 60 executive projects distributed over five main sectors, as part of a plan aimed at developing the service and bridge sectors throughout the country.

The official spokesman of the ministry, Asbaraq Sabah, said in a statement to the official newspaper that the five-year plan was designed according to three time frames, including short, medium and long-term projects, to ensure the distribution of work according to the nature of each project and its strategic importance.

He added that the 60 projects are distributed among the municipal, sewerage, water, roads and bridges sectors, as well as the housing sector.

With regard to the dismantling of traffic jams in the capital, Sabah explained that the total number of projects for the first and second packages amounted to 23 projects, of which 14 have been completed so far.

He pointed out that the first package includes 16 projects, of which 12 projects have been completed, while there are four projects that include bridges and vital bridges, namely the Gaza Bridge, the Second Jadiriya Bridge, the link between the two floors and the Qadisiyah Bridge.

He pointed out that the second package includes seven projects, two of which have been completed, while work continues on five projects, including the second Al-Masrafiya Bridge, the Al-Kurayat Bridge, the Course Bridge, the development of the Freedom Junction, as well as the rehabilitation of the Ministry of Transport tunnel

https://www.economy-news.net/content.php?id=74638

After the absence of half a century, Iraqi naval carrier returns to the Gulf with a flight from Jebel Ali to Umm Qasr

Money and business   Economy News – Baghdad   The Iraqi Line is preparing to resume its commercial navigational activity in the Gulf region, after a pause that lasted for more than half a century, within the directions of the Ministry of Transport to activate national vectors and enhance its presence in the regional trade movement.

The Ministry of Transport said that the move came under the guidance of the Minister of Transport, Wahab al-Hassani, as part of the ministry's plans to reactivate the national maritime carrier and develop its operational capabilities in the transport of containers and cargo.

The first flight of the Iraqi maritime route is scheduled to start on October 15, from the port of Jebel Ali in the UAE towards the port of Umm Qasr, marking the return of the national carrier to the maritime transport lines in the Gulf.

The return of the line aims to enhance the movement of goods through Iraqi ports, support commercial activity with the countries of the region, as well as expand Iraq's presence in regional maritime transport lines and provide a national option for the transport of containers and cargo.

The ministry pointed out that the last flights of Iraqi cargo ships in the region date back to the mid-sixties of the last century, making the resumption of flights a new station in the path of reactivation of national carriers and the development of the Iraqi maritime transport sector https://www.economy-news.net/content.php?id=74642

Kuwait Withdraws The Citizenship Of Billionaire Mahmoud Haidar .. Who Is He And How Much Is He Investing?

Money and business   Economy News - Follow-up   The name of businessman Mahmoud Haidar topped a list of 415 people who were issued against them with decrees withdrawing Kuwaiti citizenship, according to the official newspaper "Kuwait Today".

The name of Mahmoud Haidar has been linked to money, politics, the media and Iran, while today it faces a different path, through its transition from circles of influence and decision to the indictment chamber, after the issuance of a Kuwaiti decree to withdraw citizenship from it and also withdraw it from those who acquired it with it in a consequential manner, according to a decree based on Article 21 of the Nationality Law.

In the case of Mahmoud Haidar, the investigations are reported, according to published reports, about the forgery and impersonation of a Kuwaiti citizen.

According to the investigations, the original name is Mahmoud Haji, an Iranian national before his name was associated with the identity of Mahmoud Haji Haidar Abdullah as a Kuwaiti citizen.

The Public Prosecution has taken precautionary measures against his bank accounts, money, real estate and investments associated with him and his family.

His wealth is estimated at about one billion dollars according to published estimates, and his name is linked to extensive investments and interests in the financial, health and media sectors.

Mahmoud Haidar is a businessman born in 1946, and is known as the founder and chairman of Emerald Holding Company. His name emerged as one of the most prominent investors in Kuwait through investments that extended to the sectors of finance, real estate, energy, health care and media, with his name historically linked to quotas in a number of Kuwaiti companies and institutions.

The investigation will reveal what will happen and what will happen to these assets and investments.

On Sunday, the Official Gazette in Kuwait published six decrees withdrawing Kuwaiti citizenship from 415 people, and the first decree stipulated the withdrawal of the certificate of citizenship of six people, and those who acquired it with them by way of subordination, based on Article (21 bis (A) of Emiri Decree No. 15 of 1959 and the laws amending it, according to the newspaper "Middle East".

The second decree provided for the withdrawal of the nationality of 286 persons, who acquired it with them by extension, while the third decree provided for the withdrawal of the nationality of 14 persons.

The fourth decree provided for the withdrawal of the nationality of 25 persons and those who acquired it with them by extension, while the fifth decree provided for the withdrawal of the nationality of 41 persons, and those who acquired it with them by extension, and the sixth decree provided for the withdrawal of the nationality of 43 persons and those who acquired it with them by extension    https://www.economy-news.net/content.php?id=74650