Iraqi News Late Saturday Morning 4-30-22
Iraqi News Late Saturday Morning 4-30-22
TLM724 Administrator BondLady’s Corner
Iraq is the fifth largest oil exporter to America last week
Saturday 30 April 2022 09:29 | economic Number of readings: 281 Baghdad / NINA / - The US Energy Information Administration announced today, Saturday, that Iraq ranked fifth as the largest oil exporter to America during the past week.
The administration said in a report, "The average US imports of crude oil during the past week from eight countries amounted to 5173 million barrels per day, down by 110 thousand barrels per day from the previous week, which amounted to 5283 million barrels per day."
She added that "Iraq's oil exports to America amounted to an average of 242 thousand barrels per day last week, and thus it ranks fifth as the largest oil exporter among the ten major exporting countries to America."
She indicated that "most of America's oil imports during the past week came from Canada at a rate of 3.510 million barrels per day, followed by Saudi Arabia at a rate of 438,000 barrels per day, and oil revenues from Mexico at a rate of 391,000 barrels per day, and then Colombia at a rate of 364,000 barrels per day."
According to the administration, "the amount of US imports of crude oil from Ecuador amounted to an average of 108 thousand barrels per day, and from Trinidad and Tobago at a rate of 72 thousand barrels per day, and from Brazil at a rate of 48 thousand barrels per day, while no amount was imported from Nigeria or Russia." / End 8 https://ninanews.com/Website/News/Details?key=973236
With A Difference Of 250 Dinars .. The Exchange Rates Of The Dollar In The Local Markets
Economie| 11:20 - 30/04/2022 Baghdad - Mawazine News The dollar exchange rates witnessed stability, today, Saturday, on the Iraqi Stock Exchange.
The selling prices of the dollar were 147,750 dinars per 100 dollars, while the purchase prices of the dollar were 147,500 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=191727
l-Kazemi: The Real Blockage Lies In The Failure To Develop The Political Process Based On Balances..And We Do Not Have A Magic Wand
Saturday 30 April 2022 12:02 | political Number of readings: 270 Baghdad / NINA / - Prime Minister Mustafa Al-Kazemi stressed that the real blockage lies in the failure to develop the political process based on balances.
Al-Kazemi said in an interview with the official newspaper: “The solution is not in political speeches, but rather in an attempt to restore confidence. Trust, here, does not mean the necessity of participation or the formation of the government or not, but rather that restoring confidence means that everyone in the government or in the opposition He considers the constitution, laws, national constants, and state institutions to be the main pillars on which he rests.
On the issue of uncontrolled weapons, the Prime Minister said: "It is a thorny and complex file that contains political, social and religious dimensions, and the government must confront it at several levels and with a patient and cumulative vision in the security action."
He continued, "We do not have the magic wand to change reality in one fell swoop, but we laid the foundations of a normal life, and these foundations were achieved after many steps and several legal accounts."
And on the economic situation, Bayan Al-Kazemi: "We have not put into our economic work any electoral or promotional goals, and that real reform will not be achieved without suffering and damage, and this is the reality. But we are with real, balanced reform that needs treatments for the collateral damage caused by important decisions." .
He continued, "We succeeded during two years of the government's work in achieving the highest rate of economic growth at the level of the Arab countries, and I did what satisfied my conscience in performing my duties. As for the political level, it is still early to talk."
He pointed out that today there are officers, associates, and employees sentenced to death or life imprisonment after the law has been applied to them, and there are criminals who are being prosecuted for transgressing the law, as is the case with death squads in Basra Governorate, the killers of Hisham al-Hashemi, organized crime gangs and many others, not to mention the lurking terrorism. /finished9
https://ninanews.com/Website/News/Details?Key=973268
Economic: The Introduction Of The Food Security Law Reflects The Lack Of Fundamental Solutions To Confront The Economic Strikes
Saturday 30 April 2022 10:43 | economic Number of readings: 255 Baghdad / NINA / - The economic expert, Raad Twij, confirmed: "The introduction of the food security law reflects the absence of fundamental solutions at the Ministry of Finance to confront the economic strikes," calling for transforming the Food Security Law into a plan to combat poverty and unemployment.
Twig said in a statement to the National Iraqi News Agency. / NINA /: “Expectations indicate that the growth of the Iraqi economy will be at a rate of 10.5% in 2022, which is the highest growth rate for the Arab countries.”
He added: “It is expected that the growth rate will be close to 13%, so instead of the prepared food security law By the Ministry of Finance, whose allocations were estimated at $25 billion, which is a very large amount, calling for “transforming this law into a plan to combat poverty and unemployment, whose rates are increasing day by day and which may reach more than 30%.”
He added: “We need this amount and more for economic transformation and getting rid of the rentier state of the economy, and with it we find sustainable solutions and turn the Iraqi economy into a productive economy,” noting that: “It is possible to twin the Iraqi economy with the Japanese economy, which needs Iraqi oil and technology.” Thus, we reach solutions in obtaining cheap food, lower poverty rates, and higher employment for the Iraqi economy."
He stressed: "The consumption trend of the Ministry of Finance through the introduction of the Food Security Law reflects the absence of fundamental solutions, and it is better for the Ministry of Finance to listen to other economic opinions and other proposals. Room for other visions about ways of development in Iraq, away from bureaucratic visions. / End https://ninanews.com/Website/News/Details?key=973252
Orange Corners Signs A Memorandum Of Understanding With The National Bank Of Iraq To Launch A Financing Fund (OCIF) In Baghdad
Money and business Economy News – Baghdad Capta, a leading private sector development company, signed a Memorandum of Understanding with the National Bank of Iraq (NBI) to launch the Orange Corners Finance Fund (OCIF) in Baghdad. Iraq, and Issam Samara, Director of Marketing and Corporate Communications at Capital Bank of Jordan, and Omar Faleh, Director of Communications and Public Relations at Asiacell.
The MoU was signed by Mujahid Wissi, CEO of Capta, and Noha Abu Jaber, Director of Special Projects at NBI - Chairman's Office.
The signing marks the launch of OCIF's Orange Corners Baghdad Finance Fund, a €1 million fund that will be used to support companies entering the Orange Corners Baghdad Program with financial assistance and training.
OCIF Baghdad will be implemented by CAPTA with NBI being the program's banking partner. The Orange Corners Fund OCIF program is funded by the Ministry of Foreign Affairs of the Kingdom of the Netherlands.
The Minister congratulated both CAPTA and NBI and expressed support for the cooperation. The Minister emphasized that OCIF will build on the success of the Orange Corners program and further highlight the Kingdom of the Netherlands' support to build a strong private sector in Iraq.
Supporting Young Entrepreneurs
CAPTA will provide skills workshops and one-on-one training sessions to approximately 100 entrepreneurs participating in the Orange Corners Business Incubator Program in Baghdad. After completion of the six-month program, incubators will be selected to receive additional financial assistance from OCIF and ongoing business support over the next three years. This will be done in close cooperation with the National Bank of Iraq.
OCIF is a plug-in for Orange Corners. It aims to stimulate innovation and improve access to finance for entrepreneurs in Africa and the Middle East.
The fund will address a critical gap in the emerging Iraqi entrepreneurial landscape where financing options are limited and focus mostly on business at later stages.
"OCIF will enhance our ability to support early stage businesses in Iraq, providing them with the financing and training they need to become investment ready," commented Mujahid Wasi, CEO of Capta.
Issam Samara, Representative of the National Bank of Iraq and Managing Director Ayman Abu Dhaim commented, “We are very happy to support this important initiative to support Iraqi entrepreneurs and companies, as it is in line with our goal of being the right banking partner for all Iraqi startups.”
The Orange Corners Fund OCIF will support the incubators who graduated from the Orange Corners Business Incubator Program in Baghdad, which is managed by Capta and funded by the Ministry of Foreign Affairs of the Kingdom of the Netherlands.
Grants, soft loans and a range of investment readiness trainings will be offered to entrepreneurs. The program will be available for both new and previous classes at OC Baghdad.
The Orange Corner Fund OCIF will also see a number of initiatives that include workshops, training, women-focused activities, and scholarships to support the startup ecosystem in Iraq. The OCIF initiative is well aligned with CAPTA's long-term goal of developing the private sector in Iraq and promoting the country's emerging entrepreneurship landscape.
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