More Iraqi News Tuesday PM 6-29-21
More Iraqi News Tuesday PM 6-29-21
TLM724 Administrator BondLady’s Corner
Central Bank Sales Of Hard Currency Are Rising Again
Economie| 02:32 - 29/06/2021 Baghdad - Mawazine News The Central Bank of Iraq's sales of hard currency recorded, on Tuesday, a remarkable increase.
Today, the Central Bank’s auction for the sale and purchase of foreign currencies witnessed an increase in its sales by 9.22%, to reach 237 million and 968 thousand and 82 US dollars, which it covered at a base exchange rate of 1460 Iraqi dinars per one dollar.
The purchases amounting to 171 million and 238 thousand and 82 dollars went to enhance balances abroad in the form of remittances and credits, while the remaining amount of 66 million and 730 thousand dollars went in cash. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=158763
A New Decline In The Exchange Rates Of The Dollar In The Local Markets
Economie| 10:14 - 29/06/2021 Baghdad - Mawazine News The dollar exchange rates recorded, on Tuesday, a new decline in the main stock exchange and local markets in the capital, Baghdad.
The dollar exchange rate fell, on the Central Kifah Stock Exchange in Baghdad, today, as it recorded 146,800 dinars, for each $100 bill.
This has stabilized the prices of buying and selling dollars in banking offices and local markets in Baghdad, where the selling price amounted to 147,250 dinars for each paper denomination of 100 dollars, while the purchase prices amounted to 146250 dinars for each paper denomination of 100 dollars. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=158730
The Iraqi Economy Is The Center Of Polarization
Tuesday 29 June 2021 212 Yasser Al-Metwally
Another definitive evidence of the strength and durability of the Iraqi economy, despite all crises and adversities, was represented by the convening of an Egyptian, Jordanian, and Iraqi tripartite summit.
A lightning summit that settled many speculations and indicated an attempt to go towards diversifying economic relations in various international, regional and Arab axes, thus liberating the economy, as alternatives are available, and this is what we are looking for for the future of Iraq in light of internal and external challenges.
Energy, money and investment are the focus of the summit.
Economically, the compass is heading towards the most important aspect of the meeting or summit that took place recently.
What is the relative importance of these top countries?
Arab Egypt has capabilities, competencies and advanced companies, and has remarkable success experiences in the implementation of strategic and infrastructure projects, and has made achievements in addressing energy challenges and various other projects, including water and tourism investment, the Suez Canal, and others.
The Kingdom of Jordan enjoys a deep strategic position to support the outputs of the Iraqi economy in the event of the return of its production and export strength, as it counts on Jordan to be the original additional port, as well as the reserve in the event of challenges in the main outlets for the export of crude oil, and as a reserve when the extractive capacities of energy expand and quantities increase Production and export in the future, as the conveying line project through the port of Aqaba will enhance the export capabilities of Iraqi oil, in addition to the high-quality financial expertise that Oman enjoys and its wealth of international expertise in this field.
As for Iraq, it is known for its diverse economic capabilities and capabilities, not only energy, but also large natural resources that have not been invested; Therefore, the center of polarization is the strongest in the region.
Here lies the importance of the integration formed by this important tripartite axis, which will contribute to the return of the lead to Iraq, restore the world's confidence and encourage them to invest in it, knowing its available capabilities and the country's need for large investments to rebuild a homeland exhausted by the challenges and problems it has faced.
This summit produced facts on the ground that Iraq is a difficult figure in the international economy, as well as it leads an important middle direction in making economic relations between nations an alternative to wars to promote mutual economic interests as a realistic alternative in the region.
Will we understand the lesson to enhance Iraq's capacity and return to its real role in building the new global economy in accordance with its new system by continuing with this new, clear and correct approach? .. We are watching to see. LINK
Basra Gas Signs A Loan Agreement With The International Finance Corporation To Reduce Gas Flaring
Economy Tuesday, June 29, 2021 | 12:58 pm| Number of readings: 102 On Tuesday, June 29, 2021, Basra Gas Company (BGC) and the International Finance Corporation (IFC) signed a loan agreement worth $360 million for a period of five years, in line with the vision of the Government of Iraq to maximize the utilization of its natural gas resources to supply Iraqi homes and companies. powered .
Through this agreement, IFC is investing in Basra Gas Company to support one of the largest gas flaring reduction projects in the world to support the more sustainable energy sector in Iraq. Basrah Gas Company is an Iraqi natural gas joint venture established to collect and process associated gas, which is a by-product of the oil production process in the region and which would otherwise be burned .
This loan will contribute to the expansion and increase the capacity of Basrah Gas Company to process an additional 400 million standard cubic feet per day of natural gas. This is a 40% increase from the company's current capacity, which aims to help the country meet its growing energy needs and power an additional 1 million Iraqi homes. The Basra liquid-gas separation plant project will reduce greenhouse gas emissions by about 10 million tons annually .
Iraq enjoys large reserves of natural gas, and in the absence of the infrastructure necessary to process gas during oil production, it is burned and wasted. This leads to significant emissions of greenhouse gases, at the same time homes and businesses in the country depend on other energy sources that may themselves be associated with similar emissions of gases. By capturing the gas byproduct and later using it by these customers, the Basrah Liquid Gas Separation Processing Plant project can help reduce overall emissions.
The IFC loan will partially finance the construction of this new gas processing facility (Basra Natural Gas Processing Plant (BNGL) , which is part of a broader plan to reduce gas flaring in southern Iraq .
On this occasion, Minister of Oil, Mr. Ihsan Abdul-Jabbar Ismail, said: “Signing this loan supports joint efforts to maximize the optimal investment of gas associated with oil operations, by treating it with the latest modern technologies and striving to achieve our goals of converting burned energy into clean and useful energy, and working to reduce emissions. and harmful environmental effects, and the Minister of Oil pointed to the importance of strengthening cooperation with sober international banks to implement and support sustainable development projects, including gas investment projects in the Basra Gas Company.
Ismail added that this loan opens new horizons for more cooperation and transactions that serve common interests and goals, stressing that Iraq's commitment to maximizing associated gas investment projects, and achieving the standards and objectives stipulated in the Paris Agreement .
For his part, Mr. Malcolm Mays, Managing Director of Basra Gas Company, said: “We are pleased to sign this agreement with the International Finance Corporation, which is the first loan agreement of its kind in the oil and gas sector, and it is a milestone that we are proud of. This agreement demonstrates the strength of Iraqi companies, such as Gas Basra and its ability to attract financing and trust from international banks.
The objective of this five-year loan is to support the company’s growth project, the Basra Gas-Liquids Processing and Separation Plant (BNGL) project and converting wasted flare gas into much-needed energy for the country.Our strategy is in line with the vision of The Iraqi government to provide electricity to Iraqi homes and create a more sustainable energy industry. This agreement would not have been possible without the continued support of the Ministry of Oil, the International Finance Corporation and our shareholders .”
Meanwhile, Sergio Pimenta, IFC Vice President for the Middle East and Africa, added: “This pilot project has the potential to deliver significant environmental and economic benefits, including reducing greenhouse gas emissions and increasing financial revenues, as well as improving access to energy and lowering costs. This project comes after years of hard work and strong cooperation by all parties involved. We hope to send a strong signal to other investors to support more investments in tackling climate change and supporting inclusive growth in Iraq .”
The IFC investment consists of $137.76 million in IFC account loan and $180 million syndicated loan to eight international banks (Bank of China, Citibank, Deutsche Bank AG, Industrial Commercial Bank of China, Natixis, Sumitomo Mitsui Banking and Societe General, Standard Chartered Bank), and a $42.24 million loan through the IFC Syndication Managed Lending Portfolio Program, a platform that allows institutional investors to participate in the IFC's loan portfolio .
The project benefits from the World Bank Group's long-term engagement in the energy sector in Iraq. Iraq joined the Global Gas Flaring Reduction Initiative in 2011 and in 2013 committed to eliminating all routine natural gas flaring by 2030. Source: zawya https://aynaliraqnews.com/index.php?aa=news&id22=149153
Officially.. The Iraqi Minister Of Electricity Submits His Resignation To Al-Kazemi
Political Tuesday, June 29, 2021 | 12:08 PM| Number of readings: 116 The Iraqi Minister of Electricity, Majid Hantoush, submitted his resignation to Prime Minister Mustafa Al-Kazemi .The resignation comes after a complete decline in the hours of electricity supply in Iraq, with high temperatures, and an organized campaign launched by unknown persons to blow up the power supply towers .
A spokesman for the Ministry of Electricity, Ahmed Moussa, said, "The minister has already submitted his resignation to the Prime Minister, refusing to go into more details.
https://aynaliraqnews.com/index.php?aa=news&id22=149149
Presidency Of The Republic: The US Bombing Is Condemned And A Violation Of Iraqi Sovereignty
The Presidency of the Republic condemned the recent American bombing of sites belonging to the Popular Mobilization Forces at the Iraqi-Syrian border, considering it a violation of Iraqi sovereignty.
The Presidency of the Republic said in a statement, "We condemn the attack that targeted a site on the Iraqi-Syrian border," adding that "the escalation that has occurred is condemned, and represents a breach of Iraqi sovereignty and national security and undermines existing national efforts to achieve and enhance security and stability."
She added that "Iraq strongly supports, through great diplomatic efforts, the paths of dialogue and communication with various parties in order to ensure its security, stability and full sovereignty."
https://www.radionawa.com/all-detail.aspx?jimare=25165
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