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Iraqi News Thursday Afternoon 4-7-22

Iraqi News Thursday Afternoon 4-7-22

TLM724 Administrator BondLady’s Corner

The Ministry Of Oil Discusses The File Of The Oil And Gas Industry In The Region

Today, Thursday, the Ministry of Oil discussed the file of the oil and gas industry in the region.

A statement by the ministry stated, "The ministry held with the National Oil Company, in the presence of Minister Ihsan Abdul-Jabbar Ismail, the fourth workshop to discuss the file of the oil and gas industry in the region."

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He explained, "The session, which was attended by the two vice presidents of the National Oil Company, included a discussion (a comparison between service contracts and production participation), and a review of partnership contracts concluded in the region compared to the service contracts approved by the ministry in its contracts with international companies, where models of contracts were presented. Discussion and making professional, contractual, financial, legal and other observations.

He added, "The Ministry and the National Oil Company are holding extensive meetings with experts and the relevant committees formed for this purpose, with the aim of developing mechanisms for implementing the Federal Court's decision, in the presence of a number of officials and directors of the relevant departments in the Ministry and the National Oil Company."   https://www.radionawa.com/all-detail.aspx?jimare=28891

An arrest warrant was issued against the former General Manager of Rafidain Bank

The Federal Integrity Commission announced the issuance of an arrest warrant and investigation against the former General Manager of Rafidain Bank for causing damage to the funds and interests of the entity in which he works.

And the authority stated in a statement, today, Thursday, that "its investigation department reported, while talking about the details of the case, that the Rusafa Investigation Court, which is specialized in integrity issues, issued an arrest and investigation order against the accused (the former general manager of Rafidain Bank), in the case of violations committed in the concluded contract. between Rafidain Bank and a car dealership in installments.

And she added that "the arrest and investigation order issued by the Rusafa Investigation Court, which is specialized in integrity issues, came in accordance with the provisions of Article (340) of the Penal Code."

https://www.radionawa.com/all-detail.aspx?jimare=28889

Finance Reviews The Business Results Of Financial Institutions For The Past Year

Money  and business   Economy News _ Baghdad  Today, Thursday, the Ministry of Finance reviewed the financial institutions' business results for the past year.

The ministry's media office said in a statement received by "Al-Iqtisad News", that "the ministry participated in the activities of the annual meetings of the Arab financial bodies with the participation of representatives of the Arab ministries of finance and economy, which was held in the Kingdom of Saudi Arabia."

The statement indicated that "the meeting was attended by the Adviser to the Prime Minister and a delegation from the Ministry of Finance headed by Undersecretary Taif Sami, Director General of the Administrative and Financial Department, Director General of the Public Debt Department, Director General of the Iraqi Fund for Foreign Development, and a representative of the Ministry of Agriculture with the participation of the Central Bank of Iraq."

He explained, "The meeting reviewed the results of the financial institutions' work for the past year, evaluated the achievements, and discussed future prospects for enhancing the role of financial institutions in strengthening the bonds of cooperation among Arab countries."

It is noteworthy that the Arab financial institutions and the Arab Fund for Economic and Social Development hold their meetings annually, during which the performance of each body and the topics on its agenda are reviewed.

These bodies contribute to providing the necessary financing for development projects, support balances of payments, structural adjustment, investment guarantee services and export credit in the region, in addition to contributing to the financing of Arab development projects, which enhances their role in developing the wheel of the Arab economy.   Views 6 Date Added 07/04/2022   https://economy-news.net/content.php?id=27492

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Al-Rasheed Announces The Acceptance Of The Sponsorship Of Members Of The Security Services

Banks  Economy-News  Today, Thursday, Al-Rasheed Bank decided to accept the guarantee of employees of the security services.

And the media office stated in a statement that "instructions were issued to accept the sponsorship of employees of the ministries of defense and interior and the security services of all kinds and formations (officers and ranks) whose salaries are domiciled with the bank."

He added, "Among the instructions is that it covers (50%) of the net salary, the payment of the monthly installment and interest, and in case of insufficiency, more than one sponsor can be presented."

Views 42 Date added 07/04/2022   https://economy-news.net/content.php?id=27488

Electricity Promises Major Changes In The Energy Situation Next Summer

 Energy  Economy News – Baghdad   The Ministry of Electricity announced, on Thursday, that major changes in the energy situation will affect the features of next summer .

And the ministry stated in a statement that "the Electricity Operations Room held a meeting at the ministry's headquarters, chaired by the Minister of Electricity in charge, Adel Karim, to discuss the readiness of the national system during the summer of 2022. "

At the beginning of the meeting, Minister Adel Karim referred to the "great interest of the Prime Minister regarding financial support for the completion of summer preparations, and the possibility of the Iranian side increasing the rates of imported gas, which means the possibility of achieving a reliable increase in energy production, and stressed the accountability of all companies working with the ministry." For any failures and delays, including defects in the required specifications and percentages of completion .

The statement added, "The meeting also dealt with the most important preparations implemented in the obstetric units of all stations, including the rehabilitation of the obstetric units of the center, south, north and middle Euphrates ."

The minister stressed, "The completion of the operation of the second unit of the Al-Quds station, and the sixth and second units of the Wasit station, in addition to Al-Sadr, Al-Mansuriyah and south of Baghdad, after the availability of gas, and the completion of the maintenance of the units of the Rumaila gas station and opening credits to Siemens in favor of completing the work ."

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It also discussed "the rehabilitation works of the transport sector, such as the lines of Khor Al-Zubair, Al-Rumaila, the lines for draining the loads of Shatt Al-Basra and Najibiya, and the works implemented through the Japanese loan and the GE company , as well as the works of the (Heat - Acidity) line in the regions of western Anbar, taking into account the character and balancing of loads for the benefit of the governorates of Kirkuk and Salah. Al-Din and Al-Anbar, and inquiring about the readiness of the Khairat/Haidariah line to be put into work, according to what was presented by the Director General of Middle Euphrates Electricity Transmission .”

Views 99   Date Added 07/04/2022  https://economy-news.net/content.php?id=27482

With A Difference Of 250 Dinars .. The Exchange Rates Of The Dollar In The Local Markets

Economie| 10:45 - 07/04/2022   Baghdad - Mawazine News, the dollar exchange rates rose, today, Thursday, in the Iraqi markets.  Selling price: 147,750 dinars per 100 dollars,   Buying price: 147,500 dinars per 100 dollars https://www.mawazin.net/Details.aspx?jimare=189504

Al-Kazemi’s advisor reveals the three-year debts as part of the repayment strategy

Economie| 09:21 - 06/04/2022   Baghdad - Mawazine News   Today, Wednesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, outlined the strategy for repaying external and internal debts, while revealing the value of Iraq's public debt.

Saleh said, "The maximum limits of the internal public debt are approximately 70 trillion dinars, or the equivalent in foreign currency of 48 billion dollars, which are the debts imposed by the circumstances and conditions of two successive double crises that affected the national economy in close periods."

He added, "The first crisis is the financial and security double during the years 2014-2017 due to the war on ISIS terrorism and the liberation of cities, accompanied by the decline in oil prices and the weakness of financial flows to the public budget due to the intensification of government spending in that compelling circumstance."

The other is the dual crisis (financial and health). ) that hit the country throughout the year 2020, the global economy closed due to the Corona pandemic, the decline in oil prices, and the deterioration of the country’s oil revenues by 40% from their rates in 2019, which forced the House of Representatives to issue two borrowing laws in the year 2020.”

He pointed out that “in light of what In advance, the strategy of extinguishing the internal debts goes to repaying the government’s debt instruments held by the government banking system, which is the body that currently holds about 98% of that debt, which is represented by treasury transfers, maturing for only one year, and bearing an annual interest on average of 3% for various issues. .

And Saleh continued, "The debt repayment was postponed for many years due to the high financial deficit at the time, and the annual interest on it was satisfied by the public finances," noting that "the strategy of extinguishing the internal debts that was approved will be able to extinguish the internal debt during the period 2022 to 2044, which will enable banks to The government’s commercial efforts to support the elements of its liquidity and raise the value of its investments, as well as sending a good signal of high coordination between the monetary and financial policies, because the Central Bank of Iraq is the highest holder of public debt instruments (treasury transfers issued by the Ministry of Finance) by accepting its deduction based on the banks’ desire (to liquidate them). This is within the scope of open market operations.

Cabinet spokesman Hassan Nazim had confirmed earlier that the Cabinet had voted on a strategy to pay off foreign and domestic debts for the years 2022-2024.

Nazim said in the weekly press conference of the Council of Ministers, which was attended by the correspondent of the Iraqi News Agency (INA), that "the Council of Ministers voted on a strategy to pay off foreign and domestic debts for the years 2022-2024," adding that "the vote on the repayment of foreign and domestic debts came as a result of high oil prices." Ended 29 / p. 87

https://www.mawazin.net/Details.aspx?jimare=189473

 

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