More Iraqi News Friday PM 6-18-21
More Iraqi News Friday PM 6-18-21
TLM724 Administrator BondLady’s Corner
Source: A Committee From Baghdad Arrives In Erbil And Checks The Region's Imports
Time: 06/18/2021 00:06:44 Reading: 3,068 times {Economic: Al Furat News} A source in the Kurdistan Regional Council of Ministers revealed that an audit committee has arrived from Baghdad to Erbil, to audit the region's imports," noting that "the committee's work will end next week."
The source stated, on Thursday, that the committee began checking the imports of the border crossings of the Kurdistan region, and there will be no "argument preventing sending the Kurdistan region's share of the general budget" after the committee completes its work.
The Rapporteur of the Parliamentary Finance Committee, Ahmed Al-Saffar, said that "the Finance Committee consists of a specialized cadre, and it will work to audit the imports of the Kurdistan Region."
The Federal Council of Ministers decided, at its meeting on Tuesday, to send 200 billion dinars per month as financial dues from the Kurdistan region's share of the general budget.
The decision of the Council of Ministers came, after completing the process of auditing data on non-oil imports from the Kurdistan region, by the Federal Financial Supervision Bureau and in coordination with the Office of Financial Supervision in the Kurdistan Region.
According to the information, the specified amount of the Kurdistan region’s share will be disbursed retroactively, starting from January 1, 2021, and on this basis, one trillion and 200 billion dinars will be sent as financial dues to employees’ salaries for the first half of the current year. LINK
Dollar Exchange Rates In Iraq
Pratha News Agency121 2021-06-18 The exchange rates of the dollar against the Iraqi dinar, today, Friday, witnessed stability in the local markets.
And the selling prices of the dollar were 149,000 dinars per $100. The purchase price of the dollar was 148,500 dinars per $100.
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, and its sale price to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar. http://burathanews.com/arabic/economic/394602
The Industry Confirms Its Ability To Cover All The Needs Of The Ministry Of Electricity
Energy Economy News _ Baghdad Today, Friday, the Ministry of Industry and Minerals confirmed its ability to cover all the needs of the Ministry of Electricity, indicating that the products of the Ministry's companies have proven their quality and suitability to the country's weather conditions and are subject to standardization and quality control.
The ministry's spokesman, Mortada Al-Safi, said in an interview with the Iraqi News Agency, and followed by "Economy News", that "the Ministry of Industry seeks to increase cooperation with the Ministry of Electricity, due to its ability to cover the needs of the latter," noting that "there are large debts to a number of the ministry's companies owed by the Ministry." Electricity, and this negatively affects the sustainability of the production process in the ministry’s laboratories, as it needs cash to provide production requirements.”
He pointed out that "there is permanent cooperation with the Ministry of Electricity to meet the needs of the electricity sector for products that are manufactured locally in companies affiliated with the Ministry of Industry, including cables, electrical wires, electrical transformers of both types, distribution, capacity, box stations, electrical meters and other products, in addition to implementing projects for the installation, installation and operation of power stations." in the various provinces.
He explained that "the local products have proven their worth in terms of quality, quality and internationally approved standards that are appropriate for the Iraqi atmosphere," noting that "all products of the Ministry of Industry are subject to the examinations of the Central Agency for Standardization and Quality Control, unlike imported products that enter without oversight or control."
Views 128 Date Added 06/18/2021 https://economy-news.net/content.php?id=25441
Oil Prices Are Falling Globally
Time: 06/18/2021 10:12:33 Reading: 2,353 times {Economic: Al Furat News} Oil prices fell for the second consecutive session on Friday, with the US dollar rising due to the possibility of raising interest rates in the United States.
Brent crude futures were down 45 cents, or 0.6%, at $72.63 a barrel by 0700 GMT, extending their 1.8% decline on Thursday. The contract is on track to be firm for this week.
US West Texas Intermediate crude futures were down 33 cents, or 0.5%, at $70.71 a barrel, after falling 1.5% on Thursday. WTI is heading for a slight dip, which would be the first drop in four weeks.
On Wednesday, Brent crude settled at its highest price since April 2019 while WTI settled at its highest level since October 2018.
The dollar has risen in both sessions since the US Federal Reserve forecast potential interest rate increases in 2023, earlier than market watchers had previously expected. A higher dollar makes oil more expensive in other currencies, which limits demand.
Oil prices also fell after Britain on Thursday reported its biggest daily rise in new COVID-19 cases since February 19, with government figures showing 11,007 new infections compared to 9,055 the day before.
Adding to the negative sentiment were comments by Iran's chief negotiator on Thursday that talks between Tehran and Washington on reviving the 2015 Iran nuclear deal were closer than ever to a deal. LINK
Al-Bayati: The Constitution Granted Independence To The Central Bank, But Linked Its Actions To Parliament
19:33 - 06/15/2021 Information / special The leader of the Al-Fateh Alliance, Muhammad Al-Bayati, confirmed, on Tuesday, that the Iraqi constitution did not give the central bank absolute powers, but rather made it return to consultation with Parliament.
Al-Bayati said, in a statement to the "Information" agency, that "the Central Bank is one of the independent bodies, so the constitution imposed on it to return to Parliament to consult on crucial issues, and therefore any delay or error bears the responsibility of Parliament."
He added, "Granting absolute powers to the government without returning to the legislative institution is very dangerous and is considered a uniqueness in the decision and ignoring what is stipulated in the articles of the Iraqi constitution."
He pointed out that “the government does not give itself the amount of powers granted to it by Parliament, and therefore the two parties participated in the bidding on the exhaustion and impoverishment of the people https://almaalomah.org/2021/06/15/539941/
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