Iraq Economic News and Points to Ponder Tuesday Afternoon 11-26-24
Parliamentary Meeting To Discuss Four Important Oil Files
Tuesday 26 November 2024 | Economic Number of readings: 85 Baghdad / NINA / The Parliamentary Oil, Gas and Resources Committee held a deliberative meeting today, Tuesday, to discuss the text of the budget amendment regarding the Kurdistan Region's oil, and to set dates and a schedule for hosting officials of the Ministry of Oil for the coming week, in addition to discussing the reports of the temporary subcommittees, and setting a date for the periodic meeting at the Ministry of Oil to review the achievements of the oil sector and the government program. / End 5
https://ninanews.com/Website/News/Details?key=1171208
Gold Prices Stabilize After Trump Vows To Impose Tariffs
Time: 2024/11/26 09:10:29 Read: 2,197 times {Economic: Al Furat News} Gold prices stabilized on Tuesday, after falling three percent in the previous session, supported by increased demand for safe havens following President-elect Donald Trump’s pledge to impose tariffs on all imports from Canada, Mexico and China.
Spot gold was steady at $2,625.48 an ounce by 02:59 GMT, after hitting its lowest since Nov. 18 earlier in the session.
U.S. gold futures rose 0.3 percent to $2,625.80 an ounce.
Trump has vowed to impose steep tariffs on Canada, Mexico and China, raising the risk of trade wars.
Gold is traditionally considered a safe investment during periods of economic and geopolitical uncertainty, including trade wars and other conflicts.
Traders will be closely watching US consumer confidence data and the minutes of the November Fed meeting later today, as well as the first revision of GDP and core PCE numbers due later this week.
Spot silver was steady at $30.29 an ounce, platinum fell 0.2 percent to $937.05 and palladium rose 0.3 percent to $975.65. LINK
Oil Announces Final Statistics On Exports And Revenues Achieved For Last Month
Economy | 04:05 - 11/26/2024 Mawazine News - The Ministry of Oil announced today, Tuesday, that the total exports of crude oil amounted to (103) million and (145) thousand and (225) barrels during last October.
The ministry said in a statement received by "Mawazine News", that "the total exports of crude oil for last October, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO), amounted to (103) million and (145) thousand and (225) barrels."
It added that "the total quantities of crude oil exported for last October from the oil fields in central and southern Iraq amounted to (102) million and (302) thousand and (862) barrels, while exports to Jordan amounted to (318) thousand and (7) barrels, while the total quantities exported from the Qayyarah field amounted to (524) thousand and (356) barrels."
It is noteworthy that the Ministry of Oil, through its belief in informing the people of the export operations, took this monthly procedure. https://www.mawazin.net/Details.aspx?jimare=256936
Parliamentary Movement On The Law Of Basra, The Economic Capital Of Iraq
Buratha News Agency1352024-11-26 Deputy Chairman of the Oil and Gas Committee, MP Adnan Al-Jaberi, announced today, Tuesday, that a request was submitted to the Presidency of the Council of Representatives to approve the submission of an oral question to the Governor of Basra about the reasons for delaying the implementation of the Basra Law, the Economic Capital of Iraq.
Al-Jaberi said in his statement, "The local government of Basra has been late in sending the internal regulations of the law since 2023 and has not sent it until now. This is a call to the Prime Minister to expedite the ratification of the internal regulations of the law in order to achieve economic changes for Basra."
He added, "This change will create many job opportunities and will change the appearance of Basra."
After a political debate that continued since 2010 regarding the Basra Law, the Economic Capital of Iraq, the House of Representatives was able to legislate it in 2017, but it has not been implemented to date.
Basra, in southern Iraq, is one of the country's richest governorates, as it floats on a lake of oil and is distinguished by investment sectors such as energy, manufacturing industries, agriculture, animal production, and marine wealth, in addition to tourism, transportation, and storage.
Basra is also the maritime lung of Iraq overlooking the Arabian Gulf with a coastline extending 58 kilometers from Ras Al-Bisha to the port of Umm Qasr in the south, in addition to exporting more than 90% of Iraq’s black gold exports. https://burathanews.com/arabic/news/453149
Closed Meeting Of The Parliamentary Finance Committee To Discuss Seven Files
Tuesday 26 November 2024 12:00 | Economic Number of readings: 193 Baghdad / NINA / The Parliamentary Finance Committee held a closed meeting this morning, Tuesday, to discuss the draft of the first amendment to the Federal General Budget Law for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.
The committee will also discuss the report of the draft law of the Center for Banking Studies to submit it for the second reading. , and the proposal for the first amendment to the General Authority for Monitoring the Allocation of Federal Revenues Law No. (55) of 2017, in addition to the proposals for the first amendment to the National Authority for Nuclear and Radiological Control Law No. (1) of 2024, and the proposal for the twenty-second amendment to the Staff Law No. (25) of 1960 submitted by the Health Committee and other topics. / https://ninanews.com/Website/News/Details?key=1171147
Setting A Date For The Completion Of The Land Bank In Iraq
Construction and building Economy News – Baghdad The Ministry of Construction, Housing and Public Municipalities, in coordination with the Ministry of Water Resources, will complete the land bank during the coming year to be a central authority that can be relied upon to acquire land for various projects and future investments.
The official spokesman for the Ministry of Construction, Istibraq Sabah, said that his ministry, represented by its management, the Supreme Committee for Lands, has begun since the beginning of this year to prepare the necessary requirements and supplies to establish a land data management center after obtaining the approval of the Council of Ministers to do so, in order to be a reliable entity that can be relied upon to obtain the lands needed for projects, infrastructure, and various investments.
He pointed out that the Supreme Committee for Land Management in the country has reached advanced stages in establishing it, stressing that it will be fully completed and put into service during the coming year, noting that it will be affiliated with the Ministry of Water Resources since the maps of the lands are available with the General Authority for Survey.
In the same context, Sabah explained that work is underway to complete the requirements for equipping it with the computer supplies, electronic systems and software that must be available for the center to operate, in addition to an engineering and technical staff trained to manage it, as it will adopt a unified smart system for inventorying and managing lands and determining ownership and use.
He stated that the main objective of its establishment is that the various governmental and investment agencies face a major challenge in obtaining information related to lands, as they are distributed among various land-owning entities, and therefore there is no single source to rely on in this area. He pointed out that the center will facilitate effective decision-making regarding land management, which will contribute to shortening the time and effort spent by various entities in obtaining lands.
https://economy-news.net/content.php?id=50237
Dollar Exchange Rates Fall In Baghdad And Erbil With The Closing Of The Stock Exchange
Economy | 11/26/2024 Mawazine News – Baghdad The dollar exchange rates fell in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, on Tuesday, with the closure of the country's stock exchanges.
The dollar prices fell with the closure of the Al-Kifah and Al-Harithiya stock exchanges, recording 150,000 dinars per 100 dollars, while the exchange rates recorded 150,250 dinars per 100 dollars this morning.
The selling prices also fell in the field of exchange in the local markets in Baghdad, where the selling price reached 151,000 Iraqi dinars per 100 dollars, while the purchase price reached 149,000 dinars per 100 dollars.
In Erbil, the dollar also recorded a decline, where the selling price reached 149,850 dinars per 100 dollars, and the purchase price reached 149,750 dinars per 100 US dollars.
https://www.mawazin.net/Details.aspx?jimare=256946
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