Iraqi News Mid Morning Wednesday 4-6-22
Iraqi News Mid Morning Wednesday 4-6-22
TLM724 Administrator BondLady’s Corner
The appearance of Muhammad Salih to / NINA /: The US Currency Will Not Be Affected Much By The Conversion Of Some Countries To Their Local Currencies In Commercial Transactions
Tuesday 05 April 2022 10:25 | economic Number of readings: 370 Baghdad / NINA / - The financial expert, advisor in the Cabinet, Mazhar Muhammad Salih, confirmed that the US currency will not be affected much by the conversion of some countries to their local currencies in commercial transactions.
He told the National Iraqi News Agency ( NINA ) that, for example, Russia's conversion of its commercial dealings to its local currency instead of the dollar came in response to the imposition of Western economic sanctions on it.
Saleh added: The dollar still dominates more than 80% of global trade and international economic exchanges, and it also dominates more than 60% of global bank loans and more than a third of the official reserves of countries.
Last Thursday, Russian President Vladimir Putin signed a decree on the mechanism for paying for natural gas supplied to unfriendly countries, including the European Union, in Russian rubles.
According to the decree, customers in unfriendly countries, including in the European Union, are obliged to open accounts in Russian currency in Russian banks. The decree entered into force as of early April
https://ninanews.com/Website/News/Details?Key=967738
The Ministry Of The Interior Announces The Arrest Of 188 Price Manipulators
Economie| 10:58 - 06/04/2022 Baghdad - Mawazine News The General Secretariat of the Council of Ministers announced, on Wednesday, setting a time limit for paying farmers' dues, while the Ministry of Interior indicated that 188 price manipulators were arrested.
"The government has taken several decisions for the sake of food security, including setting a time limit not exceeding next June to pay farmers' dues," the secretariat's spokesman Haider Majid said in a press conference.
He pointed out that "the (Raqibni) website is dedicated to receiving complaints about ration card items."
For his part, Director of Relations and Information at the Ministry of Interior, Major General Saad Maan, said that "1,350 rounds were conducted to monitor market prices in all governorates," stressing that "188 price manipulators were arrested, in addition to the seizure of 100 cases of commercial fraud."
Maan added, "105 unlicensed laboratories were also seized," noting that "the Joint Operations Command had a role in controlling smuggling operations." ttps://www.mawazin.net/Details.aspx?jimare=189427
The Dollar Is Declining Against The Dinar In The Local Markets
Economie| 09:40 - 06/04/2022 Baghdad - Mawazine News The dollar exchange rates recorded, today, Wednesday, a decrease in the Iraqi Stock Exchange.
Selling price: 147,500 dinars per $100 Purchase price: 147,250 dinars per $100
https://www.mawazin.net/Details.aspx?jimare=189417
Today's Currency Auction .. A Slight Increase In The Sales Of The Iraqi Bank From The Us Dollar
Posted On2022-04-06 By Sotaliraq Central Bank sales of dollars rose slightly in the auction today, Wednesday, to reach more than 190 million dollars.
And our correspondent stated that “the sales of the Central Bank today, during its auction for buying and selling US dollars, rose slightly to reach 190 million, and 965 thousand and 783 dollars compared to yesterday, Tuesday, which recorded 190 million and 458 thousand and 871 US dollars covered by the bank at a base exchange rate of 1460 dinars per dollar. .
Our correspondent added that most of the sales went to meet the requests to enhance balances abroad in the form of remittances and credits, which amounted to 138 million and 365 thousand and 783 dollars, while the rest of them went in the form of cash, which amounted to 52 million and 600 thousand dollars.
Our correspondent indicated that 26 banks have met requests to enhance balances abroad, and 21 banks have responded to cash requests, in addition to 215 mediation companies. LINK
The Deposits Of The Iraqis Reached 50 Billion Dollars.. The Central Bank Of Lebanon Talks About The Details Of The "Crisis"
Posted On2022-04-06 By Sotaliraq The deposits of the Iraqis reached 50 billion dollars.. The Central Bank of Lebanon concerns Shafak News with the details of the "crisis"
Shafaq News/ The statements of the Deputy Prime Minister of the Lebanese Government, His Excellency Al-Shami, caused a lot of confusion and anxiety among Iraqis who have deposits estimated at tens of billions of dollars in Lebanese banks, but a spokesman for the Central Bank of Lebanon, gave assurances that talking about the “bankruptcy” of the Central Bank, “is not True".
There are no official estimates for the volume of deposits of Iraqis, from ordinary citizens, businessmen and politicians, in Lebanon, but according to estimates obtained by Shafak News Agency, Iraqis' deposits far exceed the deposits of Syrians, which were officially announced by officials in Damascus, estimated at about 20 billion dollar.
According to the sources, Iraqi deposits could reach 50 billion dollars.
According to the Lebanese sources, a large part of these funds are major laundering operations that took place during the past two decades, and Iraqi depositors receive facilities from Lebanese banks, to enter these funds without the usual checks.
In this regard, the media official of the Central Bank of Lebanon, Halim Berti, told Shafak News Agency, "What is being circulated about the bankruptcy of the Central Bank is incorrect."
In response to a question about whether Iraqis' deposits have vanished because of this talk of "bankruptcy", Berti reminded of the banking secrecy adopted in Lebanon, and indicated in his speech to Shafaq News Agency, that the procedures related to deposits are still the same as they are currently.
He explained that "despite the losses that afflicted the financial sector in Lebanon, which are under treatment in the recovery plan that is currently being prepared by the Lebanese government in cooperation with the International Monetary Fund, the Banque du Liban is still exercising its role entrusted to it under Article 70 of the Monetary and Credit Law, and it will It continues to do so.”
After the statements of the Deputy Prime Minister, Prime Minister Najib Mikati hastened to clarify that “what was taken from Al-Shami’s speech was fragmentary, and he meant what he said was liquidity, not solvency,” which means that the state is already facing a problem with the abundance of financial liquidity to make the payments due on it, but it is still It owns many properties and assets that can insure reducing the financial losses gap.
In the same context, the American network “CNN” quoted a Lebanese government source as saying that Al-Shami’s statements about “bankruptcy” come from the negotiations with the International Monetary Fund, which he is conducting, according to which Lebanon requests the assistance of the Fund to help fulfill its obligations, and therefore this statement “ It is not an official announcement” of Lebanon’s bankruptcy.
The source explained that a government position in this regard is first presented to the Council of Ministers and announced by Prime Minister Mikati, who represents the government and speaks on its behalf. The source added that Al-Shami's statements "do not carry any official status and do not express the government's opinion." LINK
Al-Kaabi Demands The Hosting Of The Minister Of Finance
Posted On2022-04-06 By Sotaliraq Yesterday, Tuesday, the Chairman of the Parliamentary Finance Committee, Hassan Al-Kaabi, announced the completion of the discussions of the emergency support law for food security and development and the development of important notes and suggestions before it is presented to a vote.
A statement by the committee stated, "Al-Kaabi started the meeting with a presentation on the articles of the law, stressing the need to develop appropriate formulas that meet the aspirations and needs of citizens as a result of the financial abundance achieved from the excess funds in the country,"
noting that "the law will support job creation and the movement of projects." , that “during the meeting held at its headquarters, the committee read the paragraphs of the law in order to put the final touches and address some of the texts contained therein and reach the final version, in addition to setting ceilings on revenues and spending, the issue of repaying the realized loans and canceling the borrowing paragraph.”
He continued, "The Parliamentary Finance focused during the meeting on sectors: ration card support, support for agricultural crops of wheat, barley and rye, payment of farmers' dues, payment of electric energy wages, payment of oil sums, support for governorate projects according to population ratios, inclusion in social care and support for people with special needs by improving and increase the amounts allocated to them.
Al-Kaabi directed, according to the statement, "to host the Minister of Finance to ask some questions about the law and how to open a special account to transfer the allocated amounts and funding sources."
Meanwhile, the Finance Committee adopted a proposal to support the Income-Generating Projects Fund. Another statement stated, "The Finance Committee adopted a proposal to support the Income-Generating Projects Fund and increase the fund's capital by four times."
In addition, Al-Kaabi confirmed that the army is the wall of the homeland, stressing that it is not allowed to bypass or offend it. Al-Kaabi said, in a statement: "The heroic Iraqi army in all its forms and formations is a wall to the homeland, and we never allow anyone to bypass or offend it."
He called: "The concerned authorities take measures to prevent the circulating of accusations on TV screens and showing our heroes in an inappropriate or inappropriate manner," noting that "the transgression against the military establishment that appeared in one of the media is a behavior that is not befitting the national profession of media and its institutions, and it is a transgression." Publicly against every Iraqi individual, and in particular against the members of this heroic institution, its martyrs and its sacrificers.” LINK
The Minister Of Oil: Setting New Criteria To Calculate The Share Of The Kurdistan Region
Economie| 05:10 - 05/04/2022 Baghdad - Mawazine News, Oil Minister Ihsan Abdul-Jabbar revealed, on Tuesday, the existence of new criteria for calculating the share of the Kurdistan region that is handed over to the federal government in oil exports.
Abdul-Jabbar said, "The Kurdistan Region, according to the budget law for 2021, is required to deliver sums of 250 thousand barrels at the price of SOMO to the federal government," explaining that "what happened is the deduction of 250 thousand barrels per day from the region's dues and the settlement of the Ministry of Finance was done on this." Basis".
And he indicated that "last year, there were small amounts paid to the region, but this year there will be other criteria that entered into calculating the region's share and the federal government is working on it."
https://www.mawazin.net/Details.aspx?jimare=189370
Oil Recovers From Early Losses And Rises To $ 106
Energy Economy News – Baghdad Oil futures rose on Wednesday, recovering from early losses, as the threat of new sanctions against Russia raised supply concerns .
Brent crude futures rose 32 cents, or 0.30 percent, to $106.92 a barrel by 05:04 GMT, after falling to $105.06 earlier in the session .
US West Texas Intermediate futures rose one cent, to $101.96 a barrel, after falling to $100.37 in early trading .
The United States and its allies prepared new sanctions on Moscow on Wednesday over the killings of civilians in northern Ukraine, raising fears again about a tight supply as the United States and Europe step up sanctions on Russia .
The proposed EU sanctions, which must be agreed by the 27 member states, would ban the purchase of Russian coal and prevent Russian ships from entering EU ports .
However, supply fears of lower prices faded earlier due to the rise of the dollar, which makes oil more expensive for holders of other currencies, and a sudden increase in US crude inventories .
The dollar rose to its highest level in nearly two years on Wednesday after jumping overnight on more hawkish comments from a Federal Reserve official .
US crude and distillate stocks rose last week while gasoline stocks fell, according to market sources citing figures from the American Petroleum Institute on Tuesday .
Demand fears also escalated after authorities in China, the largest oil importer, extended a lockdown in Shanghai to cover all 26 million residents of the financial center .
Analysts expected oil prices to remain at around $100 a barrel for a period of time amid demand concerns and anticipation that there will be no conflict in the Middle East during the fasting month of Ramadan, but it may rise again after Ramadan and with the start of the driving season in the United States . Views 76 Date Added 06/04/2022 https://economy-news.net/content.php?id=27454
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