More Iraqi News Sunday PM 11-1-20

More Iraqi News Sunday PM 11-1-20

TLM724 Administrator BondLady’s Corner

Al-Kazemi: The White Paper Prepared By The Government Represents A Road Map

Posted On 2020-11-01 By Sotaliraq  Prime Minister Mustafa Al-Kazemi confirmed, on Saturday, that the white paper prepared by the government represents a road map, considering that the current crisis that Iraq is going through has prompted the government to plan carefully.

Al-Kazemi stressed during the Iraqi-Egyptian Economic and Trade Forum in Baghdad on the development of the economic partnership between the two countries.  He added that "the current crisis that Iraq is going through due to Corona and the drop in global oil prices have pushed the government to deliberate planning, to achieve economic reform and support the private sector."

Al-Kazemi noted that "the white paper prepared by the government represents a clear road map in this direction." It is noteworthy that Prime Minister Mustafa Al-Kazemi confirmed, last June, that the government had prepared a "white paper" for the upcoming reforms.  LINK

Rise Of The Dollar In Iraq Today

Time: 11/01/2020 11:21:50 Read: 18,161 times  {Baghdad: Al Furat News} Today, Sunday, the exchange rates of the dollar in Iraq registered a slight increase.

The exchange rate on the Al-Kifah and Al-Harithiya stock exchanges reached 1251 dinars to the dollar, or 125 thousand and 100 dinars for one hundred dollars. Yesterday's price was 1250 dinars.  As for the selling price in the money exchange shops in Baghdad, it was 1255 dinars, and the purchase price was 1245 dinars.

In Erbil, the dollar prices witnessed a slight increase, as the selling price reached 1254 dinars to the dollar, or 125 thousand and 400 dinars for a hundred dollars, and the purchase by 1252 dinars, or 125 thousand and 200 dinars for one hundred dollars.  LINK

Al-Rafidain determines the benefits of depositing funds: they are continuing to open accounts for citizens

Economie| 09:33 - 11/01/2020   Baghdad - Mawazine News  Al-Rafidain Bank announced, on Sunday, that it will continue to open accounts for citizens and other segments to deposit their money in the bank.

The media office of the bank said in a statement that Mawazine News received a copy of it, "The bank continues to open accounts (saving and current) for citizens and deposit their money in exchange for interest."

The bank called on citizens to "visit the bank's branches for the purpose of viewing special instructions and placing their money in the bank and not hoarding it in homes in light of the positive benefits set by the bank in return for that." https://www.mawazin.net/Details.aspx?jimare=128613

Al-Mansour Bank For Investment Achieves A Profit Of 4.3 Billion Dinars Until The Third Quarter

Banks  Economy News – Baghdad  Al-Mansour Bank for Investment achieved a profit of 4.3 billion dinars since the beginning of the year until the end of last September.

The bank’s profits fell from 8.7 billion dinars during the same period last year to 4.3 billion dinars.

Qatar National Bank contributes 54.19% of the bank’s capital, and the bank’s capital is 250 billion dinars.

Customer deposits decreased from 1.1 trillion dinars to 871.3 billion dinars.

The bank attributed this decline to the impact of the Corona virus on the global economy, which affected the bank's activity. Number of observations 135   Date added 01/11/2020   https://economy-news.net/content.php?id=22493

Economy News Publishes A Second Borrowing Bill

Money  and business  Economy News – Baghdad  Economy News publishes the second borrowing bill that the government sent to Parliament and demands approval for its lending of 41 trillion dinars from October to the end of December.

The borrowing bill includes all the items of spending, as the salaries of employees amount to 24.5 trillion dinars during the three months, while the salaries of retirees are 3.8 trillion dinars, and the payment of debts and interest is 4.8 trillion dinars.

According to the bill, the government wants to allocate 655 billion dinars to buy medicines and 324 billion dinars to support the ration card.

The bill also allocated 4.7 trillion dinars to pay off the Iranian debt, for the import of electric power and gas during the years 2019 and 2020.  You can view the bill by clicking here 

Number of observations 313 Date added 01/11/2020     https://economy-news.net/content.php?id=22484

Again ... Dozens Of Demonstrators Flock To Tahrir Square (Photos)

Political| 05:08 - 01/11/2020   Exclusive - Mawazine News  Dozens of demonstrators flocked, today, Sunday, to Tahrir Square, in the center of the capital, Baghdad, after lifting all the tents and opening the square on Saturday, in front of the movement of citizens and wheels.

Our correspondent said, "Dozens of demonstrators returned to Tahrir Square in the center of the capital, Baghdad, specifically under the Freedom Monument."

He added, "The demonstrators raised pictures of the October martyrs, condemned the corrupt political parties and demanded a change of the system."   https://www.mawazin.net/Details.aspx?jimare=128699

Port Employees Are Calling For The Cancellation Of Joint Operating Contracts And The Dissolution Of The Company's Board Of Directors  

Again ... Dozens of demonstrators flock to Tahrir Square (photos) Zz1438

Money  and business  Economy News _ Baghdad  A number of employees of the General Company for Ports of Iraq organized a protest demonstration inside the company's headquarters to demand the cancellation of joint operating contracts and the dissolution of the company's board of directors that did not meet the ambitions of the employees or provide them with protection in their work.

One of the coordinators of the demonstration, Shaker Saeed, said that the main requirement for which the demonstration came is to cancel the joint operation contracts that marginalized the working competencies in the company, review and amend previous contracts and make them benefit the interest of Iraqi ports and not the operating company that works in ports.

He added that the operating contracts did not reduce the annual profits of the company, but took away the right of the employees and the competencies of the company that could generate more profits and money than those contracts provided.

He added that the negotiators in the contract drawn up and signed with Iraqi ports give the right to civil companies and the investor and prefers them to the General Company for Ports.

He also accused influential partisan parties and parties from Baghdad that are interfering in the company's work and are controlling its business for its personal interests.

For his part, the captain of the Marine Corps in the company, Basem Al-Mutouri, said that the reason for the employee revolt is the presence of suspicious deals hatched in dark rooms, such as joint operating contracts and other contracts.

He added that the workers had previously organized similar demonstrations to the same demands and the response from the concerned authorities was very embarrassing, adding that it is shameful for Iraq to have a large maritime sector and a distinguished and experienced staff and the company gives contracts and business to investment and operating contracts, he said.

In addition, the company’s accountant, Fadel Al-Asadi, said that among the demands that the demonstrators are calling for is the allocation and distribution of residential land plots in a manner similar to what is distributed in other government institutions and not by selling them by auction for sums of up to 15 million.

For his part, Hisham Al-Badran, another coordinator of the demonstration, said that among the demands is the dissolution of the company's board of directors, which did not meet the aspirations of the employees or provide them with the necessary protection for their rights, as well as the demand to reconsider the valuation of the plots of land allocated to employees.

It also included the demands of the demonstrators through a statement that they delivered in front of the general manager of the company to change the department managers according to efficiency and not the quota, as well as reduce special expenses regarding purchases, buying furniture and renting cars, as they are among the gates of wasting public money, as well as rebuilding the company from the governorate office and imposing money for the damage caused And collecting the rent amount for the previous period.

The demonstrators also demanded a reconsideration of the decision to exempt craftsmen from working on marine units, relying on the report of the captain and engineer of the marine unit, and work on calculating certificates and launching bonuses and promotions.

The demonstrators also refused to listen to the statement of the company’s general manager, Farhan Al-Fartousi, and the statement of the reforms that he is working on, giving him a period of one week to meet their demands.

Number of observations 67 Date added 01/11/2020    https://economy-news.net/content.php?id=22485

Integrity Stops Disbursing Contract Amounts Worth 35 Billion Dinars And Controls The Executing Company Manager

Sunday 01, November 2020 10:53 | Economical Views: 261  Baghdad / NINA / The Federal Integrity Commission revealed the details of stopping the disbursement of the sums allocated for a contract worth (35,000,000,000) billion dinars, while it indicated that it had seized the authorized director of the company executing the unfinished business.

The investigation department of the authority stated, in a statement today: “The operation was carried out by a team from the Babil Investigation Office in cooperation with the Baghdad Investigation Directorate,” noting:

“The team that moved to the governorate office was able, after investigation and scrutiny, to control all priorities related to the establishment of the governorate. By contracting, contrary to instructions, with a general contracting company, for the purpose of completing the unfinished works to establish schools in the pre-built construction method, for a total amount of (35,000,000,000) thirty-five billion dinars.

The department added: "The team then moved to the Ministry of Planning, where it was able to control the authorized director of the contracting company while he was at the ministry's headquarters, and the disbursement of the advance amount allocated to the company amounting to (1,500,000,000) one and a half billion dinars, as it led its preliminary investigations with the director. Authorized to forge his identity. "

She explained: “A fundamental record of seizures was organized in the process that was carried out, based on a judicial warrant, and accompanied by the accused was presented to the judge of the Hilla investigation court competent in examining integrity cases, to take appropriate legal measures.”

The authority had announced late last August that it had seized the priorities for the project of constructing (25) schools using the pre-fabricated construction method referred to a foreign company, at an amount of (57,894,000,000) dinars, after it revealed the existence of cases of waste of public money that accompanied the implementation of the terms of the contract.   https://ninanews.com/Website/News/Details?key=866268

Finance Stops Launching Salaries For All Employees, Including Self-Funded, Until Further Notice

Sunday, November 1, 2020 2:16 PM  Category:  Economy and Business  Baghdad / National News Center - A source in the Ministry of Finance announced today, Sunday, the suspension of the salaries of all employees for the month of October in state institutions.

The source said, "The Finance issued instructions to stop the release of salaries for the month of October, until further notice."  He explained, "The decision also includes self-financing companies, which are supposed to be financially independent according to Companies Decision 21-22."     https://nnciraq.com/43934/

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