Iraqi News Friday AM 12-11-20
Iraqi News Friday AM 12-11-20
TLM724 Administrator BondLady’s Corner
Parliamentary Finance: The Council Of Ministers Votes Tomorrow On The Budget And It Arrives In Parliament On Tuesday
Time: 12/11/2020 15:58:06 Read: 2,847 times {Baghdad: Al Furat News} A member of the Parliamentary Finance Committee said that the draft federal budget law for 2021 is long overdue, and the House of Representatives needs at least a month to legislate it. MP Sherwan Mirza said in a press statement today, Friday, that "the draft federal budget law for 2021 has been long overdue and the House of Representatives needs a month to legislate the law."
He added, "The Federal Cabinet has a session to discuss and approve the budget tomorrow, Saturday, and I think that the budget will be before the House of Representatives at its next session scheduled for next Tuesday."
He explained, "If the parliament is able to legislate the law before 1/20/2021, the government will be able to disburse the employees' salaries on the specified date, but if the legislation of the law is delayed more than that, the government will need to return to the previous law and spend 1/12 of the total budget." LINK
Baghdad Trade: The Central Bank Has Failed To Save The Dollar Exchange ... And A Warning Of Disaster
Time: 12/11/2020 15:42:45 Read: 2,132 times {Baghdad: Al Furat News} President of the Federation of Iraqi Chambers of Commerce Abdul Razzaq Al-Zuhairi criticized the performance of the Central Bank of Iraq in maintaining the exchange rate of the dollar against the dinar, which is rising in the local market.
Al-Zuhairi said in a press statement, "The Central Bank has two basic points, the first is to maintain the exchange rate, and the other is the development process. The bank has not succeeded in the exchange rate process or the development process, and this is a big problem."
"Now, over the past two years, in light of the collapse of oil prices, we have had to withdraw the central bank’s treasury, and this is not a positive situation, and if we are forced to withdraw larger sums in the end, an economic disaster will happen, and we cannot maintain the dollar," he added.
He said, "In my opinion, when the Iraqi government started in 2003, it set an exchange rate for the dollar of 1500 against the Iraqi dinar, and this was a positive stage, but the intervention of some ministers in a small country like Iraq, which is struggling with the dollar exchange rate, is a non-positive situation, and some may see it."
The stronger the dinar, the better the economy.
On the contrary, it is possible for the Gulf countries to have a fixed exchange rate, but we are now in a diversified and liberal economy and we must build an industry, because the current exchange rate keeps pace with and serves neighboring countries.
And between "the more we have a low currency, the more it contributes to serving the industrial and agricultural sectors, so that there is no competition from neighboring countries." LINK
Dollar Exchange Rate Against The Iraqi Dinar
Local| 11:47 - 11/12/2020 Baghdad - Mawazine News publishes / Mawazine News /, the exchange rates of the dollar and foreign currencies, today, Friday, on the Al-Kifah Stock Exchange. Exchange
offices prices: the selling price of the dollar 127,250 The purchase price of the dollar 126,250 approximate international foreign currencies -- Euro: 100 euros 121,63 British dollars : 100 pounds 133,23 dollars
Turkish lira: 100 dollars 790,60 Turkish lira - Metals The price of an ounce of gold globally $ 1837, 33
Oil, the price of a barrel of crude oil in Brent, $ 50.35, the price of a barrel of US crude oil, $ 46.93.
https://www.mawazin.net/Details.aspx?jimare=133744
Minister Of Planning: The Visit Of The Iraqi Delegation To Egypt Has Made Advanced Steps By Translating The Mous
Political| 03:25 - 11/12/2020 Baghdad - Mawazine News The head of the Iraqi ministerial delegation, Minister of Planning Khaled Battal Al-Najm, confirmed, on Friday, that the visit that the Iraqi delegation is currently conducting to Cairo has made advanced steps through translating the memorandums of understanding signed with the Egyptian side, indicating that the doors are open to everyone and have an unlimited time limit. In line with the directives of Prime Minister Mustafa Al-Kazemi.
During the delegation's tour to the New Administrative Capital in Cairo, Al-Najm said, "The Egyptian experience in establishing the capital deserves to be translated on the ground, through the exchange of experiences and their application within the city of Bismayah, due to its wide areas and population density, and that the investment process. It will attract local companies and manpower. "
A statement by the Cabinet Secretariat, a copy of which was received by Mawazine News, added, "The delegation listened to a detailed explanation of the tasks of the capital and the stages of work in it, which includes ministries and Egyptian government agencies, in addition to the residential neighborhoods for employees, which will contribute to resolving the bottlenecks in the city of Cairo." ".
The Iraqi ministerial delegation continues to conduct a round of discussions with the Egyptian side, and to conduct field trips to a number of projects within the sectors of infrastructure, roads, bridges, electricity, agriculture and investment. https://www.mawazin.net/Details.aspx?jimare=133768
Oil Prices Continue To Rise
Pratha News Agency108 2020-12-11 Oil prices continued to rise today, Friday, amid optimism that the imminent introduction of vaccines against COVID-19 will lead to strong economic growth next year.
By 08:20 Moscow time, Brent crude futures were trading at $ 50.34 a barrel, an increase of 0.19% over the previous settlement price. The "Brent" contracts ended yesterday's trading at an increase of $ 1.39 a barrel, or 2.8% at $ 50.25 a barrel.
US crude futures, "West Texas Intermediate", were trading at 46.9 dollars a barrel, up 0.26% from the previous closing price. And US crude contracts closed at $ 46.78 a barrel, up $ 1.26 a barrel.
The prices of "Brent" and US crude in trading yesterday, Thursday, the highest level since last March.
"Oil prices continued to rise Thursday, despite the massive growth of 15.2 million barrels in US inventories last week," said Phil Flynn, chief analyst at Price Futures Group.
"The oil market is looking beyond this data. The main support factor is the development of vaccines, the introduction of which could lead to an increase in demand, and as a result, stocks will return to their normal levels next year," he added. http://burathanews.com/arabic/economic/382205
Foreign Minister: This Is What Will Be Left Of The US Forces In Iraq In Early 2021
Time: 12/11/2020 16:48:21 Read: 975 times (Baghdad: Al Furat News) On Friday, Foreign Minister Fouad Hussein received a phone call from the Minister of Foreign Affairs of the Kingdom of Sweden, Anne Linde, during which they discussed the need to strengthen bilateral relations and upgrade them to what meets the aspirations of the two friendly peoples.
A statement by the ministry, a copy of which was received by Al Furat News, stated, “The minister praised the support provided by the Kingdom of Sweden to the Iraqi community, the role of Swedish humanitarian organizations in providing relief, and supporting Iraq in facing the terrorist organization ISIS, stressing the importance of continuing support within the international coalition until a time. Eliminating these terrorist groups. "
Hussein explained that "the Iraqi government is continuing to achieve reform and fight corruption, indicating that the new economic policy of Iraq will work to be based on the diversity of sources, and not being satisfied with oil imports."
Noting "the Iraqi government’s endeavor to impose the prestige of the state and the rule of law, to respond to the popular demands expressed by the demonstrations, and to complete the requirements for holding free and fair elections next year, and that Iraq has sent a message to the Security Council to provide support and send observers to hold the elections on time."
The two ministers also discussed "a number of regional and international issues of common concern, while stressing the need to work to reduce tension and achieve calm in the region, and to avoid escalation that will not serve any party."
The two sides discussed "the decision to withdraw US forces from Iraq and reduce the number of troops to 2,500 early next year, and the minister called for expanding training work for NATO forces inside Iraq."
For her part, the Minister of Foreign Affairs of the Kingdom of Sweden confirmed, "The government's stand by Iraq, and its readiness to provide support in all areas, indicating the escalation of cases of Coronavirus and that Sweden will begin taking vaccines at the end of this year from 6 foreign companies."
They also discussed the issue of Iraqi immigrants and those illegally in Sweden, and some other European countries, and the mechanisms that could be followed to address this problem. LINK
Al-Rafidain Confirms The Continued Opening Of Accounts For Citizens To Deposit Their Money And Receive The Benefits
Economie| 08:30 - 11/12/2020 BAGHDAD - Mawazine News , Al-Rafidain Bank confirmed, on Friday, that it will continue to open accounts for citizens and other segments to deposit their money in the bank and obtain interest.
"The bank continues to open accounts (saving and current) for citizens and deposit their money in exchange for interest."
He called on citizens to "visit bank branches for the purpose of viewing special instructions and placing their money in the bank and not hoarding it in homes in light of the positive benefits set by the bank in return for that." https://www.mawazin.net/Details.aspx?jimare=133729
To read more current and reliable Iraqi news please visit BondLady’s Corner: