Iraqi News Tuesday Morning 4-12-22
Iraqi News Tuesday Morning 4-12-22
TLM724 Administrator BondLady’s Corner
Al-Zamili: We will ask the government to send the 2022 budget
Political | 02:23 - 12/04/2022 Baghdad - Mawazine News Today, Tuesday, the First Deputy Speaker of the House of Representatives, Hakim Al-Zamili, announced a request to the government to send the 2022 budget.
Al-Zamili said in a statement to the official channel, which was reviewed by Mawazine News, that "the House of Representatives will ask the current government to prepare and send the 2022 budget."
The Deputy Speaker of Parliament, Shakhwan Abdullah Ahmed, confirmed earlier that the Parliament is continuing its work and performing its legislative and oversight tasks, and is awaiting sending the current year's budget. Ended 29 / https://www.mawazin.net/Details.aspx?jimare=189986
Increasing Calls For The Dissolution Of The Iraqi Parliament
Posted On2022-04-12 By Sotaliraq Huda Jassim (Baghdad) There have been calls for the dissolution of the Parliament due to the current situation and the ongoing struggle between the winning forces in the elections over the formation of the new government. And looming political parties that the dissolution of Parliament may be the best option to get out of the crisis that prevents the formation of the government.
On the other hand, there is talk inside the political corridors that the current Prime Minister Mustafa Al-Kazemi is the expected and best option to continue to lead the government until the next elections.
According to high-ranking political sources, the Sadrist movement and the parties allied with it, such as the Kurdistan Democratic Party and the "Sovereignty Alliance" may put forward Al-Kazemi's name as a settlement solution after the deadline given by Al-Sadr to the "coordinating framework" to form the government has passed.
The Supreme Judicial Council had expressed its opinion on the issue of dissolving the House of Representatives last February.
He stated that the treatment of political problems is carried out in accordance with the constitutional provisions, and no party, whether judicial or otherwise, may impose a solution to the political blockage except in accordance with the provisions of the Constitution, stressing that the mechanisms for dissolving Parliament are restricted by the text of Article 64 of the Constitution. The leader of the "Sovereignty Alliance" Mishaan al-Jubouri said: The option of dissolving the House of Representatives exists in light of the political impasse in the country and the failure to form the federal government, despite the passage of several months since the early legislative elections.
Al-Jubouri said in a tweet on Twitter: "We are aware of the great burdens that will be imposed on the Electoral Commission and the entire state if Parliament votes to dissolve itself and call for new elections."
He added, "Our talk about it is not a maneuver or a vacuum, but it is the inevitable option if the political impasse continues." The Kurdistan Democratic Party considered the calls to dissolve parliament as "premature."
A member of the Kurdistan Democratic Party, Dilshad Shaaban, said: "The dissolution of parliament is still early, despite the state of political impasse we are living in at the present time, in light of the failure to reach agreements on forming the next government."
He added, "It is logical at the present time to open the door to negotiations with the aim of reaching a solution that will get us out of the crisis, and to make concessions to the other party in the national interest," noting that dissolving the parliament would harm the Iraqi people. LINK
https://www.sotaliraq.com/2022/04/12/%d8%aa%d8%b2%d8%a7%d9%8a%d8%af-%d8%a7%d9%84%d8%af%d8%b9%d9%88%d8%a7%d8%aa-%d9%84%d8%ad%d9%84-%d8%a7%d9%84%d8%a8%d8%b1%d9%84%d9%85%d8%a7%d9%86-%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82%d9%8a/
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MP Ali Shaddad Al-Faris Praises The Outcomes Of The Agreement Between The Delegation Of The Region And The Ministry Of Oil and calls for adherence to the decision of the Federal Court for the management of oil wealth
Representative Ali Shaddad Al-Faris praised the outcomes of the meeting that took place between the Federal Ministry of Oil and the delegation of the Kurdistan Region, which requires the importance of the provisions of the Ministry of Oil on all oil operations in the region, including production and export operations.
Al-Fares said that “this meeting, which is considered the most important of its kind for managing oil operations in the region in accordance with the Iraqi constitution and the laws in force, came after the Federal Court Decision No. (110 in 2019) issued on February 15 2022, according to which the Oil and Gas Law in The region, based on a lawsuit submitted by Qebna before the Iraqi judiciary, will contribute, if the region is committed to all its outputs, in a fair distribution of wealth, and will have the largest role in re-establishing the federal government’s authority over all the files that the Iraqi constitution has limited to it only.”
Al-Fares pointed out that “the meeting that took place in the Iraqi capital, Baghdad, between the delegation of the region and the Ministry of Oil concluded several basic outputs, including a comprehensive re-study and evaluation of all oil contracts concluded by the regional government with international oil companies, as well as obligating the region to hand over the exported oil revenues to The Ministry of Finance through a bank account that is established for the same purpose, provided that a new company owned by the Ministry of Oil is established to manage the oil operations in the region.
Al-Fares indicated that the first round of bilateral talks between the region and the Federal Oil Ministry achieved great success, and it is possible that it will be followed by other rounds to clear up other controversial issues, resolve all issues related to oil and gas files, and organize the relationship between the region and the center as stipulated in the Iraqi constitution and confirmed by the court. Supreme Federalism and all applicable Iraqi laws.” LINK
https://www.sotaliraq.com/2022/04/12/%d8%a7%d9%84%d9%86%d8%a7%d8%a6%d8%a8-%d8%b9%d9%84%d9%8a-%d8%b4%d8%af%d8%a7%d8%af-%d8%a7%d9%84%d9%81%d8%a7%d8%b1%d8%b3-%d9%8a%d8%b4%d9%8a%d8%af-%d8%a8%d9%85%d8%ae%d8%b1%d8%ac%d8%a7%d8%aa-%d8%a7%d9%84/
The Dollar Is Declining Against The Dinar In The Local Markets
Economie| 10:19 - 12/04/2022 Baghdad - Mawazine News: The dollar exchange rates recorded, today, Tuesday, a decrease in the local markets.
Selling price: 147,750 dinars per 100 dollars . Purchase price: 147,500 dinars per 100 dollars.
https://www.mawazin.net/Details.aspx?jimare=189960
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The Bank's Dollar Sales Exceed $200 Million In Today's Auction
Posted On2022-04-12 By Sotaliraq The bank's dollar sales rose at auction on Tuesday, exceeding $200 million.
Our correspondent stated that “the sales of the Central Bank today, during its auction for the sale and purchase of US dollars, amounted to 200 million and 466 thousand and 845 US dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar.
Our correspondent added that most of these sales went to enhance balances abroad in the form of remittances and credits, which amounted to 145 million and 516 thousand and 845 dollars, compared to cash sales, which amounted to 54 million and 950 thousand dollars.
Our correspondent indicated that 28 banks have met requests to enhance balances abroad, while 22 banks participated to meet cash requests, in addition to 259 mediation companies. LINK
https://www.sotaliraq.com/2022/04/12/%d9%85%d8%a8%d9%8a%d8%b9%d8%a7%d8%aa-%d8%a7%d9%84%d8%a8%d9%86%d9%83-%d9%85%d9%86-%d8%a7%d9%84%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d8%aa%d8%aa%d8%ac%d8%a7%d9%88%d8%b2-200-%d9%85%d9%84%d9%8a%d9%88%d9%86/
The Netherlands Expresses Its Interest In Developing The Agricultural And Irrigation Sectors In Iraq
Reconstruction and building Economy News – Baghdad The Minister of Water Resources, Mahdi Rashid Al-Hamdani, confirmed, on Tuesday, that Iraqi cadres gained expertise from the "Delft" Higher Institute of Water.
A ministry statement stated, "Minister Mahdi Rashid Al-Hamdani chaired the bilateral meetings with IHE-Delft , with the participation of the Iraqi Chargé d'Affairs in the Netherlands, Ali Hilal, and Eddie Morse, the head of the Delft Institute for Higher Water."
The statement added, "During the meetings, the most important achievements of the joint memoranda of understanding between the two sides were discussed and future programs were discussed," noting that "the meetings included presenting a summary of the joint activities that were implemented within the framework of the bilateral memorandum of understanding, including water accounting and the study of groundwater, preserving it from depletion and enhancing capacities. In the field of international water law, blue diplomacy and the integrated management of water resources.
In a speech delivered during the meeting, the minister stressed the importance of cooperation with the (Delft) Higher Institute of Water, as it is one of the world's leading institutions in the field of water resources management, noting that "Iraqi cadres have gained experiences through the research and training programs it provides, which are in line with the endeavors of The ministry builds the institutional capacities of its cadres through these programmes.
He explained, "Iraq welcomes all possible ways of cooperation to achieve integrated and sustainable management of its water resources in light of contemporary challenges and the lack of water revenues from the countries of the upper Euphrates and Tigris basins."
For its part, the Dutch side expressed, according to the statement, "interest in supporting Iraq to develop its irrigation and agricultural sectors, as well as research approaches, as well as discussing joint implementation programs between the two countries aimed at enhancing security and peace through wise water management."
Views 0 Date added 12/04/2022 https://economy-news.net/content.php?id=27561
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For These Reasons, Oil Fell From Its Highest Levels..Economic Weakness Is Stronger Than Sanctions
Market Economy News-Baghdad Portfolio investors sold their oil holdings last week as slowing economies in China and Europe and the massive release of strategic stocks by the United States overshadowed concerns about disruption to exports from Russia .Also, hedge funds and other money managers sold the equivalent of 11 million barrels in the six most important oil futures and options contracts in the week ending April 5 .
According to exchange and regulation records, the funds have sold off over four of the past five weeks, reducing their overall net long position by 188 million barrels since the beginning of March .
The last week also witnessed light sales of Brent (-4 million barrels), NYMEX and ICE ( NYSE : ICE) , West Texas Intermediate crude (-3 million), US gasoline (-2 million) and European Gasoil (-4 million) with purchases of small. And in American diesel (+1 million) .
Also, bullish long positions were reduced by 8 million barrels while the number of bearish short positions was increased by 4 million barrels and fund managers maintained an overall bullish bias, with long positions outnumbering short positions by 4.64:1, at the 59th percentile for all weeks since the beginning of the year. 2013 year .
But positioning in general is becoming more cautious with a total net buying position of 542 million barrels (36 percent), down from 761 million (80 percent) in mid-January .
While the total number of futures options positions held by hedge funds and other traders for seven consecutive weeks decreased by a total of 1,142 million barrels (18 % ) .
Increased uncertainty, increased price volatility and sharply increased margin requirements have made holding existing positions or initiating new positions more expensive and riskier .
On the supply side, the risk of disruption to Russian crude and product exports for the time being has been offset by the promise of the massive release of 240 million barrels of strategic stocks held by the United States and its allies .
On the demand side, there are heightened downside risks from the worsening coronavirus outbreak in Shanghai and other parts of China and evidence of a slowing business cycle in North America and Europe .
As a result, the hedge fund community has turned slightly bearish on the crude oil outlook while there is still a slightly more bullish trend around mid-range distillates such as diesel, jet fuel and European gasoil .
Even in middle distillates, the funds have conducted operations in eight of the past nine weeks, reducing their net position by a total of 72 million barrels (50 % ).
For most money managers, the expected balance of oil production consumption has become less tight as the economy struggles, while diesel and jet fuel shortages are expected to make the crack spread slightly more stable . Views 58 Date added 12/04/2022 https://economy-news.net/content.php?id=27558
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