Iraqi News and Highlights Late Thursday 7-30-20

TLM724 Administrator BondLady’s Corner

Iraq Raises Oil Exports And Pumps Above The OPEC + Target

Time: 7/30/2020 13:49:05 Read: 2,457 times  {International: Al Furat News} Shipping data and sources in the sector stated that Iraq’s exports of crude oil increased since the beginning of July, indicating that the second largest producer in OPEC is still reducing its production below the target level under an agreement led by the organization.

Exports from Basra and the rest of the ports in southern Iraq as of July 29 were 2.75 million barrels per day, based on data from Refinitiv Icon and a source in the sector. That level is 50 thousand barrels per day more than the official figures for southern Iraq exports in June.

"There is no significant change, Basra is still at 2.7-2.8 million barrels per day," the source said, referring to the change in exports recorded since the first 20 days in July.  LINK

Iraq Contracts To Build An Oil Refinery At A Cost Of $ 4 Billion

Time: 7/30/2020 20:26:23 Read: 5,889 times  (Baghdad: Al Furat News) The Minister of Oil, Ihsan Abdul Jabbar Ismail, announced the approval of the Council of Ministers to refer a project (FCC) in the southern refineries to the Japanese company (JGC).

The Oil Minister said in a statement that "the project is one of the large and promising projects in the refining industry in Iraq with a capacity of (55) thousand barrels per day and will provide (7) thousands of job opportunities that are directly employed in the project, in addition to (70) thousand other job opportunities during a period Stages of project implementation. "

Ismail said, "The project includes the establishment of a laboratory with advanced technologies (a mini-refinery) that includes (7) production units for converting the wastes of refinery production from black oil into white products (liquid gas, gasoline with a number of octane 92.2, and caroline with an octavein 95 number, gas oil, mixed naphtha, Fuel oil, gas oil in hydrogenation units) with European environment friendly specifications.

He pointed out that "the project comes within the directions of the government to promote economic development through the optimal investment of production capacities to achieve the highest economic return from the production of petroleum products, and reduce import from them."

For his part, Undersecretary for Liquidation Affairs Hamid Younis said that the Japanese loan comes within the framework of strengthening bilateral relations between Iraq and Japan, provided by the Japanese "JICA" organization which is a representative of the Japanese government in financing development projects in the world, noting that the Japanese side expressed its willingness to pay all costs The project. ”

As for the General Manager of the South Refineries Company, Hossam Wali, he indicated that the period of implementation of the project is (4) years from the date of commencement of it, which is hoped to be early next year, and the Japanese company was invited to come to Baghdad to sign the contract, after obtaining the approval of the Council The ministers, at an estimated cost of $ 4 billion,

indicated that the project will convert the wastes of refinery production from fuel oil (black oil) to white derivatives (liquid gas, gasoline with a number of octane 92.2, gas oil, mixed naphtha, fuel oil, gas oil in Hydrogenation units (with European specifications).  LINK

Low Dollar Exchange Rate In Local Markets

Market  Economy News _ Baghdad  The dollar exchange rates fell on the Kifah Stock Exchange and local markets, Thursday, (30 July 2020).

The prices of the Kifah Stock Exchange - Baghdad were 123,650 dinars per 100 dollars, while on Wednesday, it recorded 123,900 dinars per 100 dollars.

Buying and selling prices in banking shops:

The sale price of the dollar = 124,000 dinars per 100 dollars.

The purchase price of the dollar = 123,000 dinars per 100 dollars.

Number of views 26 Date added 30/07/2020     https://economy-news.net/content.php?id=21210

The Parliamentary Inquiry Committee Presents Electricity Contracts To Specialists

Energy  Economy News – Baghdad  The Investigative Parliamentary Committee in the Electricity Sector confirmed that all the contracts concluded by the Ministry of Electricity for 16 years were submitted to specialists for investigation, to find out the reasons that led to the deterioration of the energy system in the country.

Member of the Committee, Deputy Ali Saadoun Al-Lami, said that the committee "will study all contracts concluded by the Ministry of Electricity from 2003 to 2019, and it will be presented to specialists from retired experts and former employees specialized in contracts and others non-governmental, to analyze these contracts and match their prices with the global market, To find out the sums wasted, "according to" conscious. "

He added that "the Ministry of Electricity was late in sending contracts to the House of Representatives," surprising at the "delay of the ministry in sending contracts for more than 8 days," describing the delay in sending contracts as "unjustified."

The investigative committee of the Ministry of Electricity, earlier, revealed that there is a default from other ministries regarding the shortage of energy.

It is noteworthy that the Speaker of the House of Representatives, Muhammad Al-Halbousi, instructed on July 12 to form a committee headed by the First Deputy to audit and investigate the contracts of the Ministry of Electricity, due to the continuous deterioration in the electrical system, the accumulated failures throughout the previous years, and the existence of administrative and financial suspicions of corruption, in order to stand on Reasons for lack of clear progress in this sector and accountability for negligence.

Number of views 33 Date added: 07/30/2020  https://economy-news.net/content.php?id=21217

Customs Announces That Its Monthly Revenues Have Reached 70 Billion Dinars

money and business  Economy News _ Baghdad  On Thursday, the General Customs Authority confirmed that exemptions granted in accordance with the law contribute to the loss of two thirds of the imports available to the state.

"The commission called for a reduction in the volume of exemptions granted, as it causes approximately two-thirds of the revenue available to the state to be lost, especially since some agencies take advantage of these exemptions and multiply the goods entering their account," said Khaled Salah El-Din, director of the commission.

Salah al-Din added, "The commission suggested that all exempted goods be drawn and paid for, which contributes to achieving a revenue jump and limits the possibility of using the exemption law to introduce double goods without paying the fees."

He continued, "The revenues achieved by the authority are now estimated at 70 billion dinars per month as a result of the intensification of control procedures at the outlets, considering the returns are good in conjunction with the confusion of global trade and economic conditions," noting that "the customs revenue for the Kurdistan region is still not transferred to the center, and that the officials there reported The Center continues to work under the applicable customs tariff law, and there are correspondences between its department and officials there. ”

He explained that | the Authority, and to ensure that the non-drawn goods were not infiltrated, deployed its employees outside the official working hours to audit the goods entering from the northern region.

Number of views 26 Date added 30/07/2020   https://economy-news.net/content.php?id=21207

Baghdad / Nina / Rafidain Bank Announced The Disbursement Of The Social Welfare Gift Of 75 Thousand Dinars.

Thursday 30, July 2020 09:31 | EconomicalViews: 88  The media office of the bank said in a statement that the Iraqi National News Agency ( NINA ) received a copy of it: "It is possible for citizens who are part of the social protection network to receive the holiday from anywhere they are." / End 7  http://ninanews.com/Website/News/Details?key=846894

Rafidain Bank Announces The Disbursement Of The 75,000 Dinars Of The Social Welfare Gift

Thursday 30, July 2020 09:31 | EconomicalViews: 88  Baghdad / Nina / Rafidain Bank announced the disbursement of the social welfare gift of 75 thousand dinars.

The media office of the bank said in a statement that the Iraqi National News Agency ( NINA ) received a copy of it: "It is possible for citizens who are part of the social protection network to receive the holiday from anywhere they are." / End 7  http://ninanews.com/Website/News/Details?key=846894

A Deputy Calls For Handling Tax And Customs Evasion Cases By Collecting Taxes In Advance From The Currency Auction

Wed, 29 Jul 2020 18:42 | Economical Views: 134  Baghdad / Nina / The deputy of the National Approach / Hussein Al-Oqabi called to address cases of tax and customs evasion by collecting taxes in advance from the currency sale auction.

Al-Uqabi presented a proposal to form a committee in the Financial Supervision Bureau that takes it upon itself to deduct 10% of the sums that merchants and owners of companies buy from the currency auction from the central bank and secure them with the Ministry of Finance to ensure that they are forced into tax and customs accounting, and to control and address tax and customs evasion cases. To the great imbalance in the collection of duties, taxes and customs tariffs at border crossings, which results in wasting 90% of the expected resources in this field.

He explained in a press statement that "this percentage will be deposited as a trust with the Ministry of Finance until the owners of the companies present their official papers that prove the soundness of their tax position and collect the fees and customs tariffs from them, and in this case only the deducted funds are returned to them."

He added: "We have previously applied such an experiment in Iraq for a limited period (45 days only) and by 5% and provided imports to the Iraqi state of 560 billion Iraqi dinars, which is less than the amount of real taxes, except that the whales of corruption and the beneficiaries of the currency auction led to its cancellation Despite its importance and confirmation of its success, which prompted us to demand a re-implementation of it and by 10% to achieve important imports to the state budget that could reach one billion dollars a month, "indicating that" these imports will certainly contribute to filling part of the budget deficit and securing the salaries of employees and owners of contracts, and we avoided resorting to External borrowing. / http://ninanews.com/Website/News/Details?key=846835

What Is The Truth About Al-Kazemi's Travel To Washington Next Week?

Political  Thursday 30 July 2020 | 01:31 PM| Views: 182  Baghdad / .. An official source in the Prime Minister’s Office, Mustafa Al-Kazemi, revealed, on Thursday, the fact that the prime minister headed to the United States of America next week.

The source, who preferred not to be named, said that "the information and news that talked about Al-Kazimi's travel to the United States of America next week is inaccurate. Until this time, no date has been set for this upcoming visit." And, “What is delaying the visit is the epidemiological situation due to the spread of the Corona virus in America, especially as it is on the rise.

This is why conducting the second round of strategic dialogue between Baghdad and Washington, perhaps through the closed-circuit television between Iraqi and American officials, as happened in the first round. ”   https://aynaliraqnews.com/index.php?aa=news&id22=136916

Barzani: We Are Experiencing A Difficult Economic Situation And Talks With Baghdad After The Eid

Time: 07/30/2020 14:12:13 Read: 1,274 times  {Baghdad: Al Furat News} The head of the Kurdistan Regional Government, Masroor Barzani, said that the region is going through an economic situation that he described as "difficult."

Barzani said in his congratulations, today, Thursday, Muslims in Kurdistan and the world on the occasion of the blessed Eid al-Adha, "It is sad that Eid al-Adha comes to us while we are in a difficult economic situation, a difficult situation outside our will and the will of the Kurdistan Regional Government."

"We have, with the beginning of the crisis, done everything we can to reduce the negative consequences of the crisis on the lives and lives of citizens, but it is unfortunate that the financial crisis that has ravaged most of the countries of the world is greater than the financial capabilities available to the Kurdistan Regional Government."

Barzani added that "despite all the difficulties, I sincerely hope that dear citizens will have full confidence in the region's government, which has spared no effort in its endeavors to secure financial dues for those who receive salaries in the Kurdistan region, hoping that our discussions with the federal government after the Eid holiday will lead to A balanced agreement that guarantees the constitutional rights and entitlements of the people of the Kurdistan Region.   LINK

Iraqi Interior Minister Barzani: Al-Kazemi Is Ready To Solve All Problems With The Kurdistan Region

Political  Wednesday, July 29, 2020 | 07:14 PM| Views: 139  The President of the Kurdistan Regional Government, Masroor Barzani, received today, Wednesday, the Minister of Interior Othman Al-Ghanmi, who confirmed that Prime Minister Mustafa Al-Kazemi is ready to solve all problems with Erbil .

During the meeting, according to the statement of the media office of the regional government, "the relations between the Kurdistan region and the federal government were discussed, and ways to enhance joint security cooperation were discussed, in particular, in the border areas and the Kurdish areas outside the administration of the regional government to deal with terrorism ."

Al-Ghanimi pointed out "the difficult conditions that Iraq and the Kurdistan region are going through in light of the Corona virus pandemic in addition to the financial crisis, which requires cooperation and coordination between the two sides to resolve all outstanding differences. He said that Prime Minister Mustafa Al-Kazemi is ready to solve all problems with the Kurdistan region ."

The head of the regional government expressed "readiness to solve the outstanding problems with the federal government in a fundamental way and within the framework of the constitution and in a way that guarantees the constitutional rights of the Kurdistan region and is in the interest of all Iraqis."

https://aynaliraqnews.com/index.php?aa=news&id22=136902

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