More Iraqi News Sunday PM 6-6-21
More Iraqi News Sunday PM 6-6-21
TLM724 Administrator BondLady’s Corner
The Value Of The Iraqi Dinar Continues To Decline .. Government Steps To Save It And Expectations Of High Market Prices
Political | 05:54 - 06/06/2021 Special - Mawazine News The exchange rates of the dollar against the Iraqi dinar rose, on Sunday, to record levels, reaching 1525 dinars against the dollar in the local markets, despite the government's assurances that it would continue to follow up the exchange rates to maintain the dollar price.
Today, the exchange shops traded the price of the dollar at $1525 per dollar, in a new decline in the value of the Iraqi dinar, a price the dollar has not reached for nearly 14 years, while government sources talked about future steps with the aim of controlling the price of the local market.
A government official said in an interview with "Mawazine News" that "the rise of the dollar is a result of market speculation and rumors of a new price rise, and this type made the citizen in a state of confusion because of hoarding the dollar in homes, in addition to the transfer of money from the dinar to the dollar by many."
And another official on the government's measures adds, "The central bank will follow a plan in the coming days, to suspend the license of money exchange shops that manipulate the price, in addition to forming price control committees."
He pointed out, "The government's policy is clear, which is to maintain the price of the dollar, and what is happening is not a dollar shortage crisis, but rather speculation in the market only."
The prices of consumables have risen in the Iraqi market, for example, mobile recharge cards, some stores, have raised their price, and traders are talking about the imminent rise in consumer prices, and this will reduce the purchasing value of citizens.
Marwan Jassim, a food trader in Jamila, told Mawazine News that, "The market price is linked to the dollar, and today there is an inflation of the dollar issue, so we find that some traders anticipate any government step and raise the price of their materials." Ended 29 https://www.mawazin.net/Details.aspx?jimare=156030
Within A Month, The Iraqi Stock Exchange Is Trading 191 Billion Shares, Worth 183 Billion Dinars
Economy Sunday 6 June 2021 | 12:08 PM| Number of readings: 56 Today, Sunday, the Iraqi Stock Exchange announced the circulation of 191 billion shares, with a financial value of more than 183 billion dinars, during the month of May .
The market stated in a report, that "the number of companies whose shares were traded during May amounted to 59 joint stock companies, while the shares of 25 companies were not traded due to the difference in the prices offered from those required by investors, while 19 companies continue to be suspended for not providing disclosure out of 103 companies listed in the market ."
He added that "the number of traded shares amounted to 191 billion and 808 million and 942 thousand shares, with a financial value of 183 billion and 365 million dinars, through the implementation of 6966 deals," noting that "the ISX60 traded price index closed at 571 points, recording a decrease of 3% from its closing in previous session ."
He pointed out that "the number of shares purchased from non-Iraqi investors for the month of May amounted to 942 million shares, with a financial value of 3.551 billion dinars, through the circulation of 17 joint-stock companies, while the number of shares sold from non-Iraqi investors reached 1.631 billion shares, with a financial value of 1.716 billion dinars, through The circulation of 17 joint-stock companies .
It is noteworthy that the Iraq Stock Exchange organizes five trading sessions per week from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism and hotels. https://aynaliraqnews.com/index.php?aa=news&id22=148259
The Finance Committee Comments On Sending Two Important Files To Baghdad
Political | 05:25 - 06/06/2021 Baghdad - Mawazine News suspended the Parliamentary Finance Committee, on Sunday, about sending two important files to Baghdad.
Committee member Shirwan Mirza said that "sending the two files is a good positive step to resolve the outstanding problems between the two sides."
Mirza added, "Qubad Talabani, Vice President of the Kurdistan Regional Government, made good strides in discussions with officials in Baghdad to ensure the Kurdistan Region's share in the budget, after a series of marathon negotiations that spanned for more than a year and a half."
He continued, "I am not aware of the date of the new visit of the delegation of the Kurdistan Regional Government to the capital, Baghdad, to discuss the entitlements of the Kurdistan region in the financial budget for the year 2021."
And the Kurdistan Regional Government announced today, that it will send the file of Kurdistan Region’s oil expenditures and non-oil revenues to Baghdad during this week. https://www.mawazin.net/Details.aspx?jimare=156024
Parliamentary Energy Of / NINA /: There Is No Legislation For The Oil And Gas Law Without The Agreement Of The Leaders And Leaders Of The Political Blocs
Sunday 06 June 2021 17:48 | political Number of readings: 146 Baghdad / NINA / - The Parliamentary Oil and Energy Committee has revealed the fate of the oil and gas bill, which is still stalled, and has not seen the light during successive legislative sessions until now.
In a statement to the National Iraqi News Agency ( NINA ), a member of the committee, Representative Ghaleb Muhammad Ali, stated that "the bill is political, and it will not pass in any legislative session of the House of Representatives without the agreement of leaders and leaders of political blocs."
He added, "The main obstacle in approving the bill is the oil of the Kurdistan region, because according to Articles 111 and 112 of the Iraqi constitution, oil belongs to all Iraqis and any new fields are jointly managed by the federal government and the Kurdistan Regional Government, but the regional government does not take into account this constitutional text It exports oil and seizes revenues without supervision."
The House of Representatives is still seeking to pass one of the main stalled legislations since successive sessions until now, which is the draft oil and gas law, after the parliament’s presidency confirmed during the previous legislative term the importance of legislating the oil and gas law during the coming period./ End 5 https://ninanews.com/Website/News/Details?Key=908467
Mazhar Muhammad Salih: The Rise In Oil Prices .. Additional Income To Cover The Deficit And Compensation For Borrowing
Sunday 06 June 2021 11:23 | Economic Number of readings: 380 Baghdad / NINA / - Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed that the rise in oil prices is an additional revenue to cover the deficit and compensate for internal and external borrowing.
He told the National Iraqi News Agency ( NINA ): The differences in the prices of Iraqi sourced oil, whose prices exceed the price specified in the federal general budget of 45 dollars per barrel, is considered an additional cash income.
Saleh added that: this additional revenue flows into the balances of the federal general budget to fill the deficit gap in the annual budget, estimated at about 29 trillion dinars.
He continued: This additional income is considered a compensation for the planned borrowing in whole or in part and a substitute for any debts, whether internal or external.
Saleh pointed out that: indicators up to the moment show that these differences will cover, if oil prices continue with this improvement, about 80% of the deficit gap. The price of Basra oil recorded a noticeable increase in the recent period, exceeding $70 per barrel. / https://ninanews.com/Website/News/Details?key=908383
General Electric: 3 Essentials That Iraq Needs To Advance The Electricity Reality
Time: 06/06/2021 10:56:04 Reading: 5,694 times {Economic: Al Furat News} The American General Electric Energy Company has identified 3 basics that Iraq needs to advance the reality of electric energy during the next stage.
And the CEO of the company in Iraq, Rashid Al-Janabi, said in a statement that Al-Furat News received a copy of it, that "Iraq is currently facing a major challenge in energy resources, but there are many qualified solutions to address this shortage, and (General Electric) has innovative and reliable technologies. To contribute to bridging the gap within the Iraqi energy sector, and that these solutions support the plan set by the Iraqi government to improve the electricity situation in the country.
He added, "Iraq needs to add energy to the national grid by developing and building new stations, improving operations and performance in the current stations used for power generation, and enhancing the performance and stability of the national electricity network, and all of this falls within multi-axial tracks."
Al-Janabi indicated that "the power plants, which operate today on the simple cycle, can be converted to the combined cycle to enhance their production capacity by up to 50% without the need to use additional fuel or increase their emissions, citing the example of the Basmaya plant, which operates in the combined cycle with General Electric units, which is the largest power plant today. And the most efficient in Iraq,” he said, noting that “Iraq can benefit from its natural gas resources and convert it into fuel to produce electricity by building giant plants and using dozens of HA gas turbines manufactured by General Electric, which are the most efficient globally to meet the future need for energy in Iraq. Iraq".
He explained that maintaining and maintaining what Iraq produces today, and carrying out repair and service operations in electric power plants in various parts of it, can result in maintaining the supply of more than 8,000 megawatts of electric power, to meet the peak demand during the summer.
He stressed that the Iraqi energy transmission network can be strengthened by building secondary stations, which contribute to opening bottlenecks, especially in densely populated areas, in addition to transferring the energy produced from stations to cities and governorates, and we are also working to link the network with the Kingdom of Jordan, in a step that will contribute significantly. In removing the pressures placed on the network and supplying electric power according to the highest levels of reliability.
Regarding the possibility of establishing electrical and secondary stations in the liberated areas such as Mosul, Anbar and Salah al-Din, al-Janabi said: "Work is underway to build secondary stations in Mosul and Salah al-Din to support the stability of the network in these areas after they were damaged, knowing that GE was one of the first companies to enter the liberated areas." . LINK
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