More Iraqi News Monday PM 11-16-20
More Iraqi News Monday PM 11-16-20
TLM724 Administrator BondLady’s Corner
Parliamentary Finance: Iraq's wealth abroad amounts to $ 87 billion
Money and business Economy News _ Baghdad A member of the Parliamentary Finance Committee, Thamer Theban, revealed, on Monday, the numbers of the amount of money and real estate in Iraq, which disappeared outside Iraq, stressing that the value of cash outside Iraq amounts to $ 87 billion, except for farms, hotels and real estate.
Theban said in a press interview, "The House of Representatives formed in 2011 a parliamentary committee to count Iraqi funds outside Iraq, to show that 87 billion is the value of cash money."
He added that "Iraq owns tea and rice farms in Vietnam, Thailand and Sri Lanka. Iraq also owns tourist properties and potato farms estimated at 36,000 hectares," indicating that "Iraq has first-class restaurants and hotels in Spain, Italy and France, and most of these tourist facilities are rented."
Theban, a deputy for the Al-Fateh Alliance, pointed out that "due to the lack of diplomatic representation, Iraq could not claim or obtain its looted property abroad." Number of observations 140 Date of addendum 11/16/2020 https://economy-news.net/content.php?id=22715
Parliamentary Finance: Iraq's wealth abroad amounts to $ 87 billion
10:40 - 11/16/2020 The information / Baghdad ..Member of the Parliamentary Finance Committee, Thamer Theban, revealed, on Monday, the numbers of the amount of money and real estate in Iraq, which disappeared outside Iraq , stressing that the value of cash outside Iraq amounts to $ 87 billion, except for farms, hotels and real estate.
Theban said in a statement to / the information /, that "the House of Representatives formed in 2011 a parliamentary committee to count Iraqi funds outside Iraq to show that 87 billion is the value of cash money."
He added that " Iraq owns tea and rice farms in Vietnam, Thailand and Sri Lanka. Iraq also has tourist properties and potato plantations estimated at 36,000 hectares," indicating that " IraqHe owns first-class restaurants and hotels in Spain, Italy and France, and most of these tourist facilities are rented.
Theban, who is a deputy for the Al-Fateh Alliance, pointed out that "due to the weak diplomatic representation, Iraq could not claim or obtain its looted property abroad." https://www.almaalomah.com/2020/11/16/505458/
A parliamentary warning against seizing Iraq's balance in the Central Bank and banks
Economy Monday 16 November 2020 | 03:10 pm| Views: 100 The Parliamentary Finance Committee warned, on Monday, against an international seizure of Iraq's remaining balance in the central bank and governmental and non-governmental banks, following a government move to print the local currency without a parallel balance in the bank .
A member of the Finance Committee, Abdul Hadi Saadawi, said that "the danger facing Iraq at the present time after borrowing is the government's intention to print the local currency instead of borrowing without a parallel balance ."
He added that "this step will push to seize the money of Iraq in the central bank and governmental and non-governmental banks and freeze it due to the lack of balance," noting that "this step will paralyze Iraq completely ."
Saadawi said, "The House of Representatives is required to follow up the matter with the government and prevent it from any direction with this step because it has great economic damage to Iraq that is more dangerous than borrowing." https://aynaliraqnews.com/index.php?aa=news&id22=140888
Parliamentary Finance warns against seizing Iraq's balance in the central bank and banks
14:40 - 11/16/2020 Information / Special ...The Parliamentary Finance Committee warned, on Monday, against an international seizure of Iraq's remaining balance in the central bank and governmental and non-governmental banks, following a government move to print the local currency without a parallel balance in the bank.
A member of the Finance Committee, Abdul Hadi Saadawi, said to / the information / that "the danger facing Iraq at the present time after borrowing is the government's tendency to print the local currency instead of borrowing without a parallel balance."
He added that "this step will push to seize the money of Iraq in the central bank and governmental and non-governmental banks and freeze it due to the lack of balance," noting that "this step will paralyze Iraq completely."
Saadawi explained that "the parliament is required to follow up the matter with the government and prevent it from any direction with this step because it has great economic damage to Iraq that is more dangerous than borrowing." https://www.almaalomah.com/2020/11/16/505516/
Parliamentary Finance warns against seizing Iraq's balance in the central bank and banks
14:40 - 11/16/2020 Information / Special ...The Parliamentary Finance Committee warned, on Monday, against an international seizure of Iraq's remaining balance in the central bank and governmental and non-governmental banks, following a government move to print the local currency without a parallel balance in the bank.
A member of the Finance Committee, Abdul Hadi Saadawi, said to / the information / that "the danger facing Iraq at the present time after borrowing is the government's tendency to print the local currency instead of borrowing without a parallel balance."
He added that "this step will push to seize the money of Iraq in the central bank and governmental and non-governmental banks and freeze it due to the lack of balance," noting that "this step will paralyze Iraq completely."
Saadawi explained that "the parliament is required to follow up the matter with the government and prevent it from any direction with this step because it has great economic damage to Iraq that is more dangerous than borrowing." https://www.almaalomah.com/2020/11/16/505516/
The stock market continues to decline in the second session
Iraq Stock Exchange Market Economy News – Baghdad The stock market index continued its decline, on Monday, in the second session, by 0.75%.
Shares of 9 companies led by the Mosul Bank Company decreased by 7.69%, and the shares of the Islamic Al Ataa Bank Company decreased by 5.88%.
Shares of Dar Al Salam Insurance Company increased by 4.65%, and shares of Elaf Islamic Bank Company rose 4.55%.
During the meeting, 744.6 million shares were traded, worth 509.1 million dinars.
The Bank of Baghdad’s shares were the most traded, with 509.4 million shares traded at a value of 204.3 million dinars. Number of observations 74 Date of addendum 11/16/2020
https://economy-news.net/content.php?id=22720
The dollar is dropping today in Iraq
Time: 11/16/2020 10:51:18 Read: 7,475 times {Baghdad: Al Furat News} The exchange rate of the dollar in Iraq decreased today, Monday.
The exchange rate on the Kifah Stock Exchange was 1248.5 dinars to the dollar, or 124 thousand and 850 dinars per hundred dollars, which is the same as the Al-Harithiya Stock Exchange.
As for the selling price in the money exchange shops in Baghdad, it was 1252.5 dinars, and the purchase price was 1242.5 dinars. In Erbil, the exchange rate decreased to 1247 dinars against the dollar.
https://alforatnews.com/news/%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%8A%D9%86%D8%AE%D9%81%D8%B6%D9%82
The World Bank: More than 5 million new Iraqis are below the poverty line due to the double crisis
Money and business Economy News _ Baghdad The World Bank revealed that the double crisis represented by the drop in oil prices and the epidemic, as well as the increasing government deficit, will push several million more Iraqis to join the class of those below the poverty line.
And a World Bank report seen by "Al-Eqtisad News" clarified that millions of new Iraqis will join the previous number of pre-crisis poor, which numbered about 10 million poor, calling on the Iraqi government to introduce urgent economic reforms.
The report added, that estimates indicate that poverty in Iraq will increase in the short term by 7 to 14 percent, and this means that between 5 million to 7 million Iraqis will become among the new poor because of the dual crisis.
Indicating that the brunt of the economic crisis will affect the family's ability to withstand it, and many families may lose the greater part or all of their income, especially those working in the private sector, which will force them to exhaust any little savings and use negative coping strategies.
Number of observations 144 Date of addendum 11/16/2020 https://economy-news.net/content.php?id=22717
Al-Rafidain announces the distribution of salaries for the departments of transport, industry and oil
Banks Economy News – Baghdad Al-Rafidain Bank announced, on Monday, the distribution of salaries for the departments of transport, industry and oil.
The bank’s media office said in a statement received by “Al-Eqtisad News”, that "the salaries of employees of some departments of the ministries of transport, industry, oil and communications have been distributed from those whose salaries have been settled with the bank and from holders of the electronic Master Card."
The statement indicated that "the bank continues to disburse salaries according to specific contexts and dates, and employees can receive their salaries at any time and from anywhere they are located."
Number of observations 61 Date of addendum 11/16/2020 https://economy-news.net/content.php?id=22708
Electricity announces the start of electronic collection
Energy Economy News _ Baghdad The Ministry of Electricity revealed, on Monday, that it intends to implement the electronic collection system before the end of the current year 2020, referring to the issuance of government decisions related to its work.
The ministry’s spokesman, Ahmad al-Abadi, said: “We are on the verge of the electronic collection project, which the ministry intends to implement before the end of the year, and we have obtained government decisions on this matter and we will proceed to work on this topic.
Number of observations 154 Date of addendum 11/16/2020 https://economy-news.net/content.php?id=22716
The food, health and entertainment sectors raise the inflation index in Iraq for the month of September
Money and business Economy News _ Baghdad The Central Bureau of Statistics announced, on Monday, that the inflation index for the month of September increased by 0.2% and the annual by 0.5%.
The apparatus of the Ministry of Planning said in a report seen by "Al-Eqtisad News", that "the index for the month of September of 2020 reached about 104.7% compared to about 104.5% in the month of August of 2020, and an increase of 0.2%," indicating that "the annual index for the month September 2020 also increased by 104.7 compared to 104.2% in September 2019, an increase of 0.5%.
He added, "The increase in monthly inflation is due to the rise in the food and non-alcoholic beverages section, as it recorded a monthly increase of 1.3% due to the increase in the prices of milk, cheese, oils, fats, vegetables and sugar. The transportation division also recorded a 0.1% increase in the monthly rate of change."
He pointed out that "the increase in annual inflation is due to the increase in the food department by 0.3%, the health department by 6.2%, and the entertainment and culture section by 0.5%."
The Central Agency for Statistics and Information Technology announced during January 2012 that it had begun using mechanization to collect different prices at specific times instead of the previously applied paper form, stressing that this would contribute to the speed and accuracy of price collection, and correct its calculation in the event of errors. Number of observations 80 Date of addendum 11/16/2020 https://economy-news.net/content.php?id=22719
Deputy for Al-Fateh to / Nina /: The decision to stop mobile phone licenses will contribute to stopping the waste of public money
Monday 16, November 2020 10:25 | Economical Views: 310 Baghdad / NINA / The representative of the Al-Fateh coalition, Amer Al-Fayez, confirmed that stopping mobile phone licenses is a positive step to stop the waste of public money, adding that the wait has been long to correct its course.
Al-Fayez said in a statement to the Iraqi National News Agency ( NINA ) that "the decision to stop mobile phone licenses will contribute to stopping the waste of public money, and that the state is in need of financial liquidity, indicating that the mobile phone companies have failed to pay their debts to the state and delay them until this decision comes." .
He pointed out that this decision will serve the citizen because most companies did not provide excellent service from the Internet and communications to the citizen in exchange for paying large sums for the sake of subscribing to the Internet service, but companies are now draining the citizens' money.
He called al - Fayez to the sufficiency global companies known to stimulate the performance of the net and communication and serve the citizen and cancel contracts lagging companies. "
The MP Mohammad Xiaa Sudanese announced yesterday a court decision to reject the renewal of mobile phone companies.
Members promised in the House 's decision to eliminate rejection of renewal of the companies mobile phone, a victory For the Iraqi people, and a gateway to open other corruption
files.These companies are required to pay the debts they owe to the government, which are estimated at two trillion dinars, according to the government debt collection law 56 of 1977, while those companies and the head of the Media, Communications and Trustees Commission are awaiting a criminal case for default before a judge Integrity. / End 8 https://ninanews.com/Website/News/Details?Key=870788
An economist for / NINA /: Controlling the financial relationship between Baghdad and Erbil is being prepared by preparing a special budget for the Kurdistan region, which is carefully studied
Monday 16, November 2020 09:44 | Economical Views: 231 Baghdad / NINA / The expert in economic affairs, Safwan Qusay, confirmed that controlling the financial relationship between the region and the center is done by complying with the Iraqi constitution and developing solutions by professionals without the interference of political parties, stressing the importance of developing a budget for the region that is carefully studied and through which political and economic problems are crossed With the center.
Qusay said in a statement to the Iraqi National News Agency / NINA / that: In the framework of controlling the financial relationship between the region and the center, the Iraqi constitution must be complied with and solutions developed by professionals without the interference of political parties from here or there, stressing the importance of preparing a budget for the region in which the revenues are presented And future expenditures for the region are audited by the Federal Office of Financial Supervision and then approved by the Iraqi parliament. "
He added: As for the proposed financing mechanism, it is done by opening one account for oil revenues that are sold from within the region’s borders, as well as revenues from Kirkuk oil exports for 250,000 barrels per day, as well as opening one account for non-oil revenues, which include customs, taxes and others. including oil field development expenditures from this account. "
He noted that" the deficit shall be financed from the account of the Ministry of Finance of the Federal and in the case of low oil prices approved in the budget of the province and the federal budget or lower export volumes are funding proportionately reduced , and vice versa ,
and we believe that the criteria for determining The volume of spending within the region’s boundaries is supposed to match the standards adopted in all governorates that have the same activity.
He continued, "The formation of a specialized professional team to follow up the implementation of these principles and solve the problems that accompany the implementation with the advice of the Federal Office of Financial Supervision will allow these problems to be crossed in a professional manner; with the need to review the oil contracts previously concluded by the region, as well as all financial revenues and expenditures within the borders of the region to ensure the transparency of information." Introduction and following the same method from all governorates and federal ministries, and holding accountable those who prove exceeding public funds according to the law ./ End 8
https://ninanews.com/Website/News/Details?key=870785
Exposing the value of the debts of the mobile phone companies ... "You either pay off or leave"
Editing date: 11/16/2020 13:05 • 108 times read [Baghdad-Where] The Parliamentary Services and Construction Committee revealed, on Monday, the amount of debts owed by mobile phone companies in favor of the state, confirming that the court's decision obliges them to pay their debts or terminate their contracts.
On Sunday, the Iraqi judiciary ruled to revoke the renewal of licenses for mobile phone companies in the country, namely Zain Telecom, Asia Cell Communications and Cork Telecom Ltd.
A member of the committee said that Khazaal Al-Azirjawi is harmful. "The process of renewing contracts for mobile phone companies in this form is against the law."
He explained that "the court's decision includes canceling the renewal of contracts with mobile phone companies until the money owed by them is paid to the Iraqi state treasury."
He added that "the phone companies have dues of more than 650 million dollars, and these sums have not been paid to the government," stressing that "the decision obliges the companies to pay the money they owe or go to cancel the contract renewal."
And Al-Azirjawi stated, "The government should go to the national company that the parliament voted and activate the work of this company to provide services to citizens better than the companies currently operating that did not provide good service to the citizen."
He pointed out that "the court's decision obligated the government to pay the mobile phone companies owed money in exchange for renewing a contract license," noting that "the current contract between the government and companies will end in 2022."
The Iraqi authorities had renewed the mobile phone license for a period of 5 years on July 9, with the companies paying 50 percent of their debts in favor of the state, but he faced parliamentary objections.
Iraqis, including MPs, complain about the poor services of mobile phone companies and the high prices of their services. http://www.alliraqnews.com/modules/news/article.php?storyid=103935
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