Iraqi News Highlights Wednesday Afternoon 10-14-22
Iraqi News Highlights Wednesday Afternoon 10-19-22
(Recaps Note: Typo in Title Date - Correction 10-19-22)
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The New Government Will Prepare Next Year's Budget After Its Formation
Planning By / NINA /: Wednesday 19 October 2022 14:23 | politicalNumber of readings: 185
Baghdad / NINA / - The Ministry of Planning confirmed that the next government will prepare the Federal General Budget Law 2023 and send it to the House of Representatives in preparation for its approval, after its formation.
The Minister of Planning, Khaled Battal, stated, in a statement to the National Iraqi News Agency (NINA) that "the current government, the outgoing one, is the conduct of daily business, and it cannot present a budget, nor can it propose a budget at all, until the formation of the new cabinet."
He added, "The next government will legislate or propose a general budget law and send it to the House of Representatives later to proceed with its approval during the coming period," noting that "the current government is a caretaker that does not have the authority to send the budget law to the House of Representatives or any other party."/ https://ninanews.com/Website/News/Details?Key=100
The Judiciary Brings In A Former Member Of The Parliamentary Finance Committee Over The Tax Money Scandal
Money and business Today, Wednesday, the Supreme Judicial Council announced the recruitment of a member of the Finance Committee in the House of Representatives for the previous session.
The Council said in a statement, "The Second Karkh Investigation Court, which is specialized in integrity issues, decided to bring in a member of the Finance Committee in the House of Representatives for the previous session on the charge of intentional damage to state funds in accordance with the provisions of Article 340 of the Penal Code."
He added, "The committee member issued a recommendation to disburse the tax deposits before completing the audits by the regulatory authorities."
Views 72 Added 10/19/2022 - 3:08 PM Update 10/19-2022 - 5:30 PM
https://economy-news.net/content.php?id=30298
Barzani Announces The Launch Of The Digital Transformation Strategy For The Kurdistan Regional Government
The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, announced today, Wednesday, the launch of the digital transformation strategy for the Kurdistan Regional Government.
Barzani said during a press conference, "Today we announce the launch of the digital transformation strategy, which is part of the reform program announced by the current Kurdistan Regional Government," noting that "this project is the way to reach an electronic government."
He added, "In 2025, the regional government will join the rest of the world's electronic governments," stressing that "the electronic visa system will be implemented during the next month."
He continued, "A new system for registering companies will be announced," noting that "the electronic system will support the economic sector in Kurdistan." https://www.radionawa.com/all-detail.aspx?jimare=31733
Oil Prices Rise Due To Supply Problems
Wednesday 19 October 2022 09:28 | Economic Number of readings: 182 Baghdad / NINA / - Oil prices rose in early Asian trading today, Wednesday, to reduce the losses of the previous session, as concerns about tight supplies after reports of low inventories in the United States offset fears of lower demand from China, the largest oil importer.
Brent crude futures rose 52 cents, or 0.58 percent, to $90.55 a barrel. US West Texas Intermediate crude was at $83.95 a barrel, up $1.13, or 1.4%.
Brent and West Texas Intermediate touched two-week lows and fell 1.7% and 3.1% respectively in the previous session on reports of US President Joe Biden's plans to free more barrels from the Strategic Petroleum Reserve (SPR) and concerns about weak Chinese fuel demand.
A senior US official said that the administration plans in December to sell 15 million barrels of its reserves, which was announced earlier this year, which is 180 million barrels.
Oil price gains were capped by fears of weak fuel demand from China as it continues its strict COVID-free policy.
US crude oil inventories fell by 1.3 million barrels for the week ending October 14, according to market sources citing figures from the American Petroleum Institute on Tuesday.
Earlier in October, the Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia agreed to sharply cut oil production by 2 million barrels per day.
The OPEC+ production cut, which comes before the European Union's ban on Russian oil, will squeeze supplies in an already tight market. European Union sanctions on Russian crude and oil products will enter into force in December, February and February, respectively./End 8
https://ninanews.com/Website/News/Details?key=1008523
Iraq Increases Its Holdings Of US Bonds By More Than One Billion Dollars
Wednesday 19 October 2022 09:26 | Economic Number of readings: 237
Baghdad / NINA / - The US Treasury announced today, Wednesday, that Iraq increased its holdings of US bonds to more than one billion dollars during the month of August.
The Treasury said in its latest table, "Iraq's possession of US Treasury bonds for the month of August of 2022 increased by 1.043 billion dollars, or 3.02%, to reach 35.630 billion dollars, after it was 34.587 billion dollars last July," noting that "these bonds It rose from the same month last year 2021, when Iraq's holdings of bonds amounted to $18.9 billion.
And she added, "Iraqi bonds, including long-term guarantees amounting to 23.430 billion dollars and short-term guarantees amounting to 12.200 billion dollars," noting that these bonds represent 0.44% of the world's bonds.
In the Arab world, Saudi Arabia comes at the forefront of the most possessing countries, reaching $122.089 billion, followed by Kuwait with $51.031 billion, the UAE third with $47.767 billion, then Iraq fourth, Oman fifth with $7.134 billion, then Morocco with $3.708 billion.
She pointed out that "the largest holder of US bonds is Japan, with a value of 1,199.778 trillion dollars, followed by China, with a value of 971.808 billion dollars, followed by the United Kingdom, with a rate of 644.710 billion dollars, and then Luxembourg with 305.974 billion dollars." / End 8
Planning Announces A Slight Increase In The Inflation Rate Last Month
Economie| 05:12 - 10/19/2022 Baghdad - Mawazine News The Ministry of Planning announced, on Wednesday, an increase in the inflation rate during the month of September by (0.2%) compared to the previous month of August.
The official spokesman for the ministry, Abdul-Zahra Al-Hindawi, said in a statement received by Mawazine News, that "the annual inflation rate has also increased by 5.3% compared to what it was during September of the past year 2021, attributing the monthly change in inflation.
The food and non-alcoholic beverages section increased by (1.6%), compared to the decrease in the clothing and shoes section, by (0.7%), and the housing section decreased by (1%) as a result of the decrease in water and electricity supplies by (5.1%) due to the decrease in generator subscription fees, and the decrease The fuel group increased by (0.5%), while the household supplies and equipment department recorded an increase by (0.2%), and the health and tobacco departments maintained their same level in the previous month of August.
And Al-Hindawi said, "Other departments recorded a slight increase in their rates during the month of September, including the Transportation Department, which rose by 0.1%, the Communication Department, which rose by 0.2%), the Entertainment and Culture Department, which rose by 0.8%, and the Education Department, which rose by 0.8%. (0.2%), with the same percentage, the restaurants and hotels section rose, while the miscellaneous goods and services section recorded a decrease of (0.6%), affected by the drop in gold prices.
A spokesman for the Ministry of Planning pointed out that "the Central Bureau of Statistics has updated a number of goods that were lost in the markets, with the aim of increasing the accuracy of the indicators, as well as updating the mechanism for calculating the rental methodology in the housing department, as well as updating car prices in the transport department, and the prices of phones and computers. also". https://www.mawazin.net/Details.aspx?jimare=20870
Parliament: We Will Take Real Measures Until Those Involved In “The Theft Of The Century” Are Imprisoned
Political | 04:03 - 10/19/2022 Baghdad - Mawazine News The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, confirmed, on Wednesday, that he will not tolerate the largest theft in the history of Iraq, and that the House will take real and serious measures until the imprisonment of those involved in this theft in cooperation with the judiciary to protect public money.
A statement by Al-Mandloub’s office said that Mawazine News received a copy of it, that this came during his chairing today, Wednesday (19-October 2022) an expanded meeting of the Parliamentary Integrity Committee, during which the former Minister of Finance hosted the agency “Ihsan Abdul-Jabbar” and the Deputy Minister of Finance “Taif Sami” And a number of officials in the relevant departments, to find out the details of theft of the sums of trusts collected at the General Tax Authority.
According to the statement, Al-Mandalawi called on the judiciary to take appropriate legal measures against all those accused of “stealing the century,” and to deter anyone who begged himself to tamper with the capabilities of the people and to impose the most severe penalties against those who are proven to be involved in this crime, regardless of their position, in order to save the money and bounties of Iraqis from the hands of the corrupt. ". https://www.mawazin.net/Details.aspx?jimare=208694
Details Of The Meeting Of The President Of The Republic And The Prime Minister-Designate
Political | 02:01 - 10/19/2022 Baghdad - Mawazine News, President of the Republic, Abdul Latif Rashid, received today, Wednesday, the Prime Minister in charge of forming the new government, Muhammad Shia Al-Sudani.
And a statement by the Presidency of the Republic, received by Mawazine News, said, "At the beginning of the meeting, Al-Sudani renewed his congratulations and blessings to the President on the occasion of his election as President of the Republic, wishing him success and success in performing his mission."
During the meeting, according to the statement, "the general situation in the country was discussed," and the two sides stressed "the importance of unifying the national ranks and working to form a new government that confronts the challenges facing the country and works to serve the Iraqi people and improve their living and service conditions." https://www.mawazin.net/Details.aspx?jimare=208681
The Dollar Exchange Rate Fell For The Second Day In A Row
Economie| 10:24 - 10/19/2022 Baghdad - Mawazine News, the dollar exchange rates fell, today, Wednesday, on the Iraqi Stock Exchange. Selling price: 147.000 dinars per $100 purchase price: 146.900 dinars per $100 https://www.mawazin.net/Details.aspx?jimare=208658
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