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The Iraqi Institute for Economic Reform contracts with experts

Saturday 04 July 2020  Baghdad / Al-Sabah  The Iraqi Institute for Economic Reform seeks to contract with experts who can supplement the Institute's sessions with proposals, by submitting a policy paper and by two papers in session.

A statement of the institute conveyed that this step comes in line with the principle of societal partnership in formulating economic reforms in cooperation with (CIPE) to organize three electronic dialogue sessions, in order to issue reform packages that address the challenges faced by the national economy.

The statement pointed out that the three sessions will stand at three important joints in the national economy, as the first focuses on rationalizing public spending, addressing slack career and reforming the salary scale and the role of the private sector in that, while the second joint stands when working on developing the private sector and providing the necessary financial liquidity The third chapter deals with maximizing public revenues through tax and customs channels.

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Corporate social benefits and opportunities to stimulate development

Saturday 04 July 2020  Baghdad / Hussein Thagab  An economic symposium addressed an important axis of the private sector within the labor market, which represents the social responsibility of companies, which is one of the most important duties of the public and private sector, and it is an ongoing commitment by them to contribute to the development and improvement of the cultural, educational, economic and health level. The seminar, which was held through the window of (the Iraqi Economic Forum) under the supervision of the Baghdad Chamber of Commerce and with the participation of an elite group of economists, acknowledged the importance of corporate social responsibility towards local communities in work areas, and the role of this in the community’s interaction with companies The investment.

Economic activities

The head of the Baghdad Chamber of Commerce, Firas Rasul Al-Hamdani confirmed that "the symposium came out with several recommendations, the most important of which is to emphasize the aspects through which the social responsibility of the private sector is activated, which is the economic aspect, support for economic and social activities in Iraqi society, and commitment to regulations and laws in the practice of the economic process, as well as attention to employees As for the social aspect, it stood up when promoting moral values ​​and social solidarity, respecting different laws, regulations and cultures, helping in facing crises due to policies, disasters or diseases, and supporting social and sporting activities and events.

And health. "

Al-Hamdani added, “As for the legal aspect, it focused on the importance of adhering to local and national laws and the legal texts that it operates during the exercise of the activity and taking into account the effective ones, and transparency in publishing regulations and laws related to the work of the private and public economic sector, as well as stressing the reasons for the success of social responsibility in the private sector.”

development projects

The seminar was attended by the advisor to the Prime Minister Kazem Al-Hassani, the former president of the Iraqi Chambers of Commerce Federation Jaafar Al-Hamdani, the consultant engineer Qusai Al-Araji and a member of the Board of Directors of the Baghdad Chamber of Commerce Muhammad Zaboon and specialists in economic affairs Dr. Muhammad Al-Khursan, Aqil Al-Muhammadawi, Dureid Al-Shaker Al-Anazi, Fadel Al-Muhammadawi, Saif Adel Hassan, Ahmed Salman, Karim Fawaz and Alaa Al-Tamimi and Abdel-Hussein are blessed.

She focused on emphasizing the importance of culture to social responsibility in the private economic sector. It is noticeable that a number of stakeholders need to increase the culture of social responsibility for the sector, as the culture of giving is limited to charitable, non-developmental actions related to feeding the poor or providing clothes without addressing projects Development raises the standard of living for members of society.

Plans and goals

The symposium pointed out the importance of working to unify the efforts of the informal sector, as social responsibility of the private sector in order to affect it needs to take an organizational form that has specific plans and goals instead of being random efforts; In other words, developing, implementing, and evaluating development plans by the private sector, and increasing expertise, knowledge and scientific ability to set standards and criteria for measuring efforts, because there is a confusion between charity and social responsibility.

Financial sums

The symposium stood when encouraging partnership, that is, the participation of the public sector in social responsibility in providing an appropriate environment for what it possesses or what it manages from public facilities or properties and scientific ownerships that can be used to activate and fully implement responsibility as well as through tax exemptions, government tenders and special privileges And linking them to achieving social goals to make the contribution effective by the public sector, as well as activating the role of the private sector because of its capital by allocating funds as required by the profits of the private sector institutions to participate effectively in the programs and centers through which unemployed youth are trained and rehabilitated and that these be The sums are from good initiatives and are not binding, and its role is not limited to providing goods and services, but rather to doing more.

Women's Empowerment

The participants emphasized the empowerment of women and the raising of their capabilities and skills in a manner that qualifies them to participate in the development process and in order to take an effective role in social responsibility, and the role of the media and is to activate the importance of spreading social responsibility because it is good to announce the social efforts exerted so as to set an example for others in the race in this regard from everyone to achieve The greatest possible benefit to society.

https://alsabaah.iq/27264/%D8%A7%D9%84%D9%85%D9%86%D8%A7%D9%81%D8%B9-%D8%A7%D9%84%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D9%8A-%D8%A9-%D9%84%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%88%D9%81%D8%B1%D8%B5-%D8%AA%D9%86%D8%B4%D9%8A%D8%B7-%D8%A7%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9

Maximize resources

Saturday 04 July 2020  Thamer Al-Heims  Maximization of resources has become an irreplaceable matter, and it needs a unique practical will, as it - meaning maximization - is a general qualitative shift.

Also, society does not ignore values ​​and does not suffer from chaos and confusion, but it suffers from the betrayal of its members by the Covenant and their failure to fulfill obligations Ethics.

The launch of the slogan of maximizing non-oil resources in the oil ministry’s house by the Prime Minister announces that there is a quality transfer that will take place. Perhaps early in this shift was the lifting of the cover practically from the multi-salaries as he called them the government spokesman, meaning that they did not absorb the word Double.

This process will supply the budget in its darkest conditions and we now hear a movement towards the border outlets to save more than ten billion dollars that used to go to the paths of corruption with this amount. We will provide a quarter of the salaries annually after Inhale it.

There is no doubt that the second line after the ports will reach the foreign exchange as supplied daily by the currency market, as it will shrink after closing the informal ports and operating the electronic performance as a guarantor condition, with a fee previously deducted from the import license, random import will shrink and the flow of the currency market will be strengthened, strengthening the dinar.

Here, random market forces move lamentably over scarce materials such as dates, grapes, vegetables, poultry, eggs or fish and milk, and on Chinese cornstarchs and luxury items such as sweets of all kinds.

This procedure, if practically taken without compliments, ensures the real economy grows by cultivating it and making it economically feasible, which is the industrial sector, with its three public, private and mixed wings. If we tighten our outlets, it is not only security, but electronic.

Which maximizes non-oil resources is the oil industry and is quickly available as the licensing process was made available, especially since the oil industry is now not at its best globally we must take advantage of the announcement of establishing refineries covering what we need and export, to save three billion on the import of oil derivatives right Now.

As for agriculture, it is the most fortunate in the greatness after the palm of its historical enemy, which is the indiscriminate and destructive import of agricultural and animal production, followed by the management of the private and public sector, which are known conditions.

And qualifications. The current circumstance is the most appropriate time in terms of repayment of the development goal.

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The stock market trades 14 billion shares

Saturday 04 July 2020  Baghdad / Al-Sabah  The June report of the Iraq Stock Exchange revealed that 14 billion shares were traded during (11) sessions of trading in shares of joint-stock companies at a rate of four sessions per week from Sunday, June 14 to Tuesday 30 June 2020. During the partial curfew period, the Executive Director of the Iraq Stock Exchange Taha Ahmed Abdel Salam said: "The value of shares traded amounted to 8 billion dinars,"

noting that the market did not organize trading sessions from the beginning of June until 13 of it because of a complete curfew due to the Corona epidemic, and also did not organize trading on Thursday 18 and 25 June because of A total curfew. "

Market system

Abdel Salam indicated that "trading during the partial curfew is carried out by the trading brokers of its brokerage firms from its headquarters in Karkh and Rusafa via the On-Line electronic market system, remote trading, while the investors' room is closed in implementation of the decision to prevent rallies since March 2020".

And Abdul Salam indicated that "the trading indicators in stocks indicated that 11 trading sessions were organized according to the trading instructions and electronic trading rules, and that the settlement and clearing took place on the same day of the session T + 0, and that the number of companies traded reached (49) companies, and the total number of transactions executed reached 3924 trading deals On stocks, the ISX60 market index for the prices traded on Sunday, June 14, closed at (423.35) points, and closed on Tuesday, June 30 at (434.94) points, up by 2.6 percent.

Financial data

On the decisions of the Securities Commission, Abdul Salam said: “The Securities Commission issued several decisions during the month of June 2020, the most important of which is to extend the reporting period and financial data for the year 2019 and the quarterly statements for the first and second semesters of 2020 for joint stock companies for a period of three months from their prevailing timing, to enable companies to implement Disclosure requirements. "

Control and inspection

He pointed out that the Board of Governors in the market issued several decisions, the most important of which was to discuss the report of the month of May 2020 and follow-up trading activity in the market, and to approve the employees ’work plan during the month of July in line with the decisions to ban partial roaming, and to ratify the plan of oversight and inspection of brokerage companies after adjusting them to be consistent With the requirements of the partial curfew, he suggested modifying the disclosure times for large deals between financial and banking institutions and submitting them to the Securities Commission,

a proposal to amend procedures and timings for the transfer of electronic trading authorized persons between brokerage companies and submitting them to the Securities Commission, and discussing technical department notes on the activity of managing the electronic system during the months Past and upcoming work plans. "

European Union

Abdul Salam pointed out that "the market participated in the Iraq Finance Expo (IFEX) conference, which was organized by means of modern meetings, ZOOM for the days from 22-24 June 2020. The Iraq Stock Exchange presented Presentation in a session on 6/23/2020 next to the Central Bank of Iraq

The Al-Rabeeh Brokerage Company and City Bank, and the European Union Asian Stock Exchange media FEAS conducted a video interview via the (ZOOM) program with the Executive Director of the Iraq Stock Exchange published on the official website of the union discussed the plans of the Iraq Stock Exchange during the Corona pandemic, ways to continue activity, and the future of economic activity

And the capital market, and the European Union of the Asian Union (FEAS) held on Monday, June 29 its annual meeting via the ZOOM program with the participation of all members, chaired by the President of the Board of Directors of the Federation and CEO of the Muscat Stock Exchange.

Among the most important decisions of the General Assembly was the presentation and discussion of the 2020 action plans and the postponement of the elections of the Federation's Board of Directors to 2021 due to the Corona pandemic and the approval of the 2019 financial statements of the Union.

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High dollar exchange rate in local markets

Market Economy News _ Baghdad

The exchange rates of the dollar rose on the Kifah Stock Exchange and local markets, Saturday, (4 July 2020).

The prices of the Kifah Stock Exchange - Baghdad were 122,800 dinars per 100 dollars.

Buying and selling prices in banking shops:

The sale price of the dollar = 123.250 dinars per 100 dollars.

The purchase price of the dollar = 122.250 dinars per 100 dollars.

Number of views 45 Date added 04/07/2020

http://economy-news.net/content.php?id=20925

Member of the Parliamentary Economy submits eight proposals to the government related to border crossings

Praatha News Agency134 2020-07-04  On Saturday, a member of the Parliamentary Committee on Economic and Investment, MP Mazen Al-Faili, presented eight proposals to the government regarding the work of the border outlets, including the subjection of all ports to the management of the federal authority, including the Kurdistan Region, considering that the government's success in imposing the rule of law on the outlets will restore confidence to the rest of the state .

"We emphasize that the government takes quick steps and effective measures in collecting port revenues, whose realistic amount amounts to at least ten billion dollars at least annually, but the actual revenue is not exceeding one billion dollars," Suspect Al-Fili said in a statement.

He added, "Finding solutions for this economic facility is not limited to providing significant and important revenues that revive the public budget only, but also contributes to the revitalization of the industrial and agricultural sector and the protection of the national product and the accompanying provision of additional job opportunities for Iraqi youth and stopping the flow of hard currency to import these materials,

not to mention The fact that the government succeeds in imposing the rule of law on the outlets will restore confidence to the rest of the state’s institutions and departments and motivate it to adopt firm oversight activities in the face of corruption and corrupt people in various state locations.

He continued, "We propose in this regard a set of mechanisms and steps, the most prominent of which are:

1- Adopting governance (the electronic system for collecting customs duties) in a comprehensive management of all outlets, to ensure accurate monitoring and responsible follow-up in the full collection of revenues.

2- Subjecting all ports to the administration of the federal authority, including the Kurdistan Region.

3- Appointing an honest and efficient field administration for each outlet and supporting the deployment of elite security forces that protect their sound decisions and block the way for any groups that interfere in the work of the outlets and their revenues.

4- Close the unlicensed ports and crossings that operate outside the control of the state and the law.

5- Reconsideration of granting exemptions from customs, as regulatory reports indicate that they are exploited by persons and entities not legally covered, and exemptions should be minimized to the maximum extent possible, and that customs duties are collected from everyone in the outlets and after verification in the center of the validity of their inclusion in the exemption The statutory refund to them at the withheld customs fees.

6- That the process of paying the customs of imported goods, their fees and tax be completed at the time of the contracting process or if the merchants purchase the hard currency from the currency auction to reach these goods to the outlet and they meet all of its conditions.

7 - Regulating import licenses and matching them with incoming goods and commodities to prevent tampering with the quality of goods or exchanging them in customs fee transactions, which results in reducing fees imposed on them.

8- Connecting all outlets to a national control center in Baghdad by means of a camera system that covers the work and activity of employees in the outlets to detect any tampering with the passage of goods.

http://burathanews.com/arabic/news/372069

Parliamentary Economy: Border crossing revenue is $ 10 billion annually, of which only one billion is earned

money and business  Economy News _ Baghdad  Member of the Parliamentary Economy and Investment Committee Mazen Al-Faili said on Saturday that the border outlets in Iraq achieve annual financial revenues of $ 10 billion, but only one billion are earned.

Al-Faili said in a statement received by "Al-Iqtisad News", "We stress the government taking quick steps and effective measures in collecting the revenues of the outlets, whose realistic amount is at least ten billion dollars at least annually, but it is actually obtained not to exceed one billion dollars."

He pointed out that "finding solutions for this economic facility is not limited to providing significant and important revenues that revive the public budget only, but also contributes to the revitalization of the industrial and agricultural sector and the protection of the national product and what is required by providing additional job opportunities for Iraqi youth and stopping the flow of hard currency to import these materials, not to mention the fact that the government's success In imposing the rule of law on the outlets, it will restore confidence in the rest of the state’s institutions and departments and motivate them to adopt firm oversight activities in the face of corruption and corrupt people in various state locations.

In this regard, Al-Fili proposed a set of mechanisms and steps, the most important of which are:

1- Adopting governance (the electronic system for collecting customs duties) in a comprehensive management of all outlets, to ensure accurate monitoring and responsible follow-up in the full collection of revenues.

2- Subjecting all ports to the administration of the federal authority.

3- Appointing an honest and efficient field administration

Each outlet and supports the deployment of elite security forces that protect their sound decisions and block the way for any groups that interfere with the work of the ports and their revenues.

4- Close the unlicensed ports and crossings that operate outside the control of the state and the law

5- Reconsidering granting exemptions from customs, as regulatory reports indicate that they are exploited by persons and entities not legally covered, and exemptions are supposed to reduce to the maximum extent possible, and that customs duties are met by everyone in the outlets and after verification in the center of the validity of their inclusion in the exemption The statutory refund to them at the withheld customs fees.

6- That the process of payment of imported goods' duties, fees and taxes be completed upon the contracting process or if merchants purchase hard currency from the currency auction to reach these goods to the outlet and they meet all of their conditions.

7 - Regulating import licenses and matching them with incoming goods and commodities to prevent tampering with the quality of goods or exchanging them in customs fee transactions, which results in reducing fees imposed on them.

8- Connecting all outlets to a national control center in Baghdad by means of a camera system that covers the work and activity of employees in the outlets to detect any tampering with the passage of goods.

Number of views 53 Date added 04/07/2020

http://economy-news.net/content.php?id=20923

Deputy: Erbil has bypassed the constitution, and Baghdad has demanded its rights from Kurdistan's oil, just like Basra

money and business  Economy News _ Baghdad  On Saturday, a member of the House of Representatives, Amer Al-Fayez, accused the Kurdistan Regional Government of adhering to the positions in the negotiations between Baghdad and Erbil, considering that the federal government "did not raise the ceiling of its demands, but rather requested to receive its rights resulting from the Kurdistan government."

Al-Fayez said in a statement reported by "Al-Arabi Al-Jadeed" newspaper and seen by "Al-Iqtisad News", that "the differences between the federal government in Baghdad and the Kurdistan Regional Government are due to the strictness of the Kurdish position," noting that "the quantities of oil exported from the region represent a major problem between Baghdad and Erbil" ” He pointed out that "the Baghdad government has financial benefits for Erbil."

He added that "Kurdish politicians do not want to respond to Baghdad," stressing that "the latter's demand for oil imports is a fair matter and according to the constitution, which stipulates that national wealth, including oil, belongs to Iraq as a whole, and this applies to Basra and other oil provinces, and must be applied to All governorates, including the provinces of the Kurdistan region.

Al-Fayez pointed out that "the Kurdistan region exported during the last period more oil than allocated to it, and did not hand over its revenues to the federal government," noting that the region's government "granted itself oil-related concessions without the approval of Baghdad, and this is unacceptable, because oil is a wealth patriotism".

He continued, “If other provinces like Basra do what the Kurdistan region does regarding oil, then that means dispersion and lack of money for the general budget,” noting that “oil is one of the most important outstanding issues between Baghdad and Erbil, as well as the border crossings that are National resources, as well as disputed territories.  Number of views 43 Added Date 07/04/2020

http://economy-news.net/content.php?id=20924

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