Iraqi News Sunday AM 9-13-20
Iraqi News Sunday AM 9-13-20
TLM724 Administrator BondLady’s Corner
The launch of the second phase of Baghdad Economic City
Sunday 13 September 2020 127 Baghdad: Omar Abdul Latif The second phase of the Baghdad Economic City project was launched, which is built on an area of 2000 dunums near the Nahrawan area, and contains the city, which is an economic center; Customs and free zones and exchange areas, in addition to a petrol station, banks, overnight stays, roads, sidewalks, and complete infrastructure.
Although the idea of its creation dates back to 2010; However, red tape, instructions, laws, and other technical and administrative procedures contributed to the delay and obstruction of the project, which provides job opportunities for thousands of citizens and eases traffic congestion in Baghdad and contributes to stimulating the economy in the country in a large way, and the Council of Ministers approved the project in 2018, after which the former governor of Baghdad, Falah Al-Jazaery, announced Work started in it.
"The project opens wide horizons for all of Iraq, as the city of Baghdad needs four industrial cities, and our project is the first of its kind in the country, and there may be second cities in Basra, Nasiriyah or Hilla," the city’s commissioner director, Zainab al-Janabi, told Al-Sabah. “.
During the recent period, the real steps and the correct path for establishing industrial cities have been set, by changing the instructions that allow the establishment of such cities and overcoming the difficulties in the issue of land ownership. Al-Janabi believes that “the government must be supportive in the issue of providing raw materials and protecting the local product. And banning imports from other countries, as the investor cannot put billions of dinars into factories for producing certain materials while the borders are open to the entry of industrial products into the country.
The area of Baghdad Economic City is estimated at two thousand dunams, and its features began to appear after reaching the second phase of its establishment near the Nahrawan area. After completion, the city will provide about 40,000 job opportunities between truck drivers, industrialists and workers who will be spread over 600 factories, and the city will be provided with a small power station, and start Construction of roads and the construction of its gates until its completion over a period of four years, and Al-Janabi called on the government to support industrialists with excellent, interest-free loans to establish their industrial projects in this city.
The city also needs a paved road with a length of 30 km, so that trucks loaded with materials go from Kut to the industrial city without passing through the capital, Baghdad, and Al-Janabi warned that the security system in the city will be at a high level of modernity and development and no one can enter it without authorization or has He worked in it, in addition to that it would facilitate the monitoring of factories and their production by the quality control.
Specialists believe that the Baghdad Economic City project, at the strategic level, will be subject to conditions, including preventing the entry of large cars carrying 10 tons or more, and this will reduce traffic jams, as well as preserving roads and bridges from carrying these cars, as well as reducing carbon pollution in addition to It will provide surplus electrical energy to the capital from 50 to 100 megawatts, given that the moving industrial plants will take electricity from their own stations that will be established in the economic city. LINK
The Stock Exchange: 43 Billion Shares In A Week
Iraqi Stock Exchange «Economy News» Market Economy News – Baghdad On Sunday, the Stock Exchange announced its trading volume for the past week, indicating that the trading volume reached 43.6 billion shares.
The number of shares traded increased last week by 313%. While the value of shares traded reached 18.2 billion dinars.
While foreign investors sold 894 million shares, worth 454 million dinars.
The market value of companies listed on the stock exchange last week was 13.583 trillion dinars.
Number of observations 87 Date of addendum 09/13/2020 https://economy-news.net/content.php?id=21836
Low Exchange Rates Of The Dollar Against The Dinar
Market Economy News – Baghdad The exchange rates of the dollar fell, on Sunday, on the stock market and local markets. Al-Kifah Stock Exchange recorded 123,150 dinars against 100 dollars, while the stock exchange yesterday recorded 123,300 dinars per 100 dollars. Selling prices in the exchange shops in the local markets in Baghdad:
The selling price: 123,750 dinars per 100 dollars.
Purchase price: 122.750 dinars per 100 dollars.
Number of observations 82 Date added 09/13/2020 https://economy-news.net/content.php?id=21834
Parliamentary Economy Intends To Host The Minister Of Trade
Money and business Economy News – Baghdad
The Parliamentary Economy and Investment Committee confirmed that it will host the Minister of Trade and the advanced staff in the ministry regarding the delay in the arrival of the ration card items to the citizen.
Committee member Ali Saadoun Al-Lami said in a statement reported by the official news agency "Conscious" and reviewed by "Al-Iqtisad News", that "the Presidency of Parliament was directed to host the Minister of Commerce and the advanced staff of the Ministry to find out the reasons for the delay and the failure of the ration card items to reach the citizen."
And that "the hosting will take place during the current week or the beginning of next week to discuss the reasons that led to the non-arrival of the ration card."
He added, "The committee made contacts with the minister and explained that the items of the ration card did not arrive due to the lack of financial allocations to fill the contract."
He continued, "The ministry has started transferring flour between governorates that do not have that material to fill the deficiency in those governorates," noting that "the shortage of the ration card items is limited to oil and sugar as well as rice."
He pointed out that "there are many proposals to produce rice and sugar locally to ensure that the citizen's need for these products is met and distributed to the citizen."
Number of observations 147 Date of addendum 09/13/2020 https://economy-news.net/content.php?id=21830
The Housing Fund Will Launch The Electronic Collection Project Next Month
Money and business Economy News – Baghdad The Housing Fund announced that it will initiate the electronic collection project next October, in order to pay loan installments by the beneficiaries.
The Director of the Housing Fund, Diaa Mujd Abdullah, said in a statement reported by the official Al-Sabah newspaper, which was seen by Al-Eqtisad News, that the fund’s plan for the current year 2020 included granting 12,000 loans to beneficiaries across the country, indicating that it has so far been able to implement 75 percent of this plan, despite the circumstances that the country went through due to the spread of the Corona pandemic, and the work stopped in many areas of the country, but the fund continued its work in the electronic presentation method for those wishing to obtain loans.
He added that "the fund has also opened the submission of electronic disclosure requests to facilitate the work of inspection committees during the period of the ban and not to hinder the lending process."
Abdullah noted that "the fund will launch, at the beginning of next October, the electronic collection project to pay loan installments by the beneficiaries, warning that the fund, with the approval of the Central Bank, has entered into a contract with a company in order to activate all cards that belong to citizens, whether (Master Card) or ( Qi-card) for employees and retirees, in addition to issuing special cards to the beneficiaries who do not have cards.
He stated that "the fund's plan also includes financing residential investment complexes by granting loans to citizens who are registered on them."
He explained that "the number of complexes that are currently being funded are 7 complexes, 2 in Baghdad, and the rest are distributed among the other governorates," pointing to "the approval of financing 15 new projects distributed among the whole country, in line with the general government direction to solve the housing crisis."
Number of observations 294 Date of addendum 09/13/2020 https://economy-news.net/content.php?id=21832
Hussein Al-Aqabi: Not Sending Final Accounts ... Neglect And A Cover-Up Covering The Corrupt
Sunday 13, September 2020 13:30 | EconomicalViews: 149
Baghdad / NINA / Member of the Parliamentary Legal Committee, Hussein Al-Oqabi, promised not to send the final accounts to Parliament ... a neglect and a veiled secret on the corrupt.
Al-Aqabi said in a statement to the Iraqi National News Agency ( NINA ): "The final accounts must come every year, whether there is a budget or not." He added, "The final accounts are important, in case the budget is legislated or not, and it must arrive annually to Parliament."
He expressed his regret for not having reached Parliament, indicating: "This is a negligence that extends from 8 to 9 years, and it is a negligence and a cover-up covering the corrupt."
Member of Parliament Muhammad Shiaa al-Sudani confirmed: "The current year budget is comprehensive for the months of the year, without final accounts."
Al-Sudani said: "The budget is, as usual, without final accounts, and as previous governments used to not submit annual final accounts." / End 3 https://ninanews.com/Website/News/Details?Key=856197
Economist: Internal And External Borrowing Will Continue Without Announcing The Amounts
Sunday 13, September 2020 12:11 | EconomicalViews: 161 Baghdad / NINA / Economic expert Abdul Hassan Al-Shammari affirmed: "Internal and external borrowing will continue, without announcing the amounts borrowed."
He said in a statement to the Iraqi National News Agency ( NINA ): "The government's continued borrowing is evidence of the inability to achieve resources other than oil, which would be new revenue added to one revenue."
Al-Shammari added, "The government can achieve amounts sufficient for two years to pay salaries and with the consent of the Iraqi people and support them, through ports and taxes, and exporting the surplus of various products."
He explained: “The present are unable to run the state because they do not have an economic thought.” / End https://ninanews.com/Website/News/Details?Key=856183
To read more current and reliable Iraqi news please visit BondLady’s Corner: