Saturday Afternoon Iraq Economic News Highlights 7-23-22
Saturday Afternoon Iraq Economic News Highlights 7-23-22
Mahmoud Othman To / NINA /: There Is No Agreement Yet On The Candidate For The Presidency Of The Republic, And Going To Parliament Will Create Many Problems
Saturday 23 July 2022 09:08 | political Number of readings: 334 Baghdad / NINA / - The independent Kurdish politician Mahmoud Othman confirmed that there has been no agreement, so far, between the two main Kurdish parties, the Democratic Union and the Patriotic Union, and the other Kurdish parties on a candidate for the post of President of the Republic.
Othman said in a statement to the National Iraqi News Agency / NINA /: "Intensive discussions are currently taking place between the leaders of the Kurdish parties, in the hope of reaching a compromise solution and one candidate during the current week, or else going to the federal parliament with two candidates, and the vote will be decisive between them."
Othman explained that in the event of going to Parliament with more than one Kurdish candidate, the coordination framework will vote in favor of the Patriotic Union of Kurdistan candidate, and therefore the Kurdistan Democratic Party led by Massoud Barzani will not participate in the next government,” noting: “The vote in Parliament will create many problems between parties and blocs. We need it."
https://ninanews.com/Website/News/Details?Key=989244
Iraq Asks The UN Security Council To Hold An Emergency Session To Discuss The Turkish Aggression
On Saturday, the Ministry of Foreign Affairs called on the UN Security Council to hold an emergency session to discuss the Turkish aggression on Iraqi territory.
Foreign Ministry spokesman Ahmed Al-Sahaf said in a statement that "the complaint letter was sent to the Security Council and a request was made to hold an emergency session to discuss the Turkish aggression."
On Friday, United Nations Secretary-General Antonio Guterres called for an urgent investigation into the artillery shelling of Dohuk.
A statement by the spokesperson for the Secretary-General of the United Nations, Farhan Haq, stated that "the Secretary-General condemns the bloody artillery shelling that took place in the Zakho area in Dohuk Governorate, in the Kurdistan region of Iraq, which reportedly resulted in the death of 9 people and the injury of 23 others.
The Secretary-General called for action An urgent and meticulous investigation into the incident to determine the circumstances surrounding the attack and ensure accountability,” he said, expressing his “sincere condolences to the families of the victims and wishing a speedy recovery to the injured.”
https://www.radionawa.com/all-detail.aspx?jimare=30401
Parliament Decides To Form A Joint Fact-Finding Committee On The Turkish Aggression
Political | 02:51 - 23/07/2022 Baghdad - Mawazine News, the House of Representatives decided today, Saturday, to form a joint committee to investigate the facts on the ground about the Turkish attack in Dohuk.
The official news agency quoted a member of the Parliamentary Security and Defense Committee, Mahdi Amerli, as saying that "the defense and foreign ministers, the army chief of staff and the commander of joint operations have confirmed taking two steps, the first towards legal procedures, by submitting international complaints, and the other step is the absence of Turkish forces in Iraq, and if they remain, there will be a response." Another verb.
He pointed out that "a committee of Parliamentary Security, Defense and Foreign Relations was formed with the Chief of Staff of the Army, the Ministry of Defense and joint operations to investigate the facts on the ground at the site of the accident and find out the source of the bomb from where it was in cooperation with the Turkish embassy." https://www.mawazin.net/Details.aspx?jimare=200192
Despite Its Low Price... Basra Oil Achieves Great Weekly Profits
Saturday 23 July 2022 09:52 | Economic Number of readings: 284 Baghdad / NINA / - International oil exchanges closed yesterday, Friday, with fluctuationns in their prices during the past week.
Basra Heavy Crude closed down by 0.94 cents to reach $96.35, but it recorded significant weekly profits of $5.46, equivalent to 6.01%.
Brent crude closed in the last session yesterday, also down by 0.66 cents, to reach $103.20, but recorded weekly gains of $2.04, equivalent to 2.02%.
Meanwhile, US West Texas Intermediate crude closed down $1.65 to $94.70 a barrel, recording weekly losses of $2.89, equivalent to 2.96%.
And last week witnessed fluctuations in oil prices, as expectations of economic stagnation were offset by the scarcity of supplies as a result of the Russian oil embargo by the European Union./End 8
https://ninanews.com/Website/News/Details?key=989263
Economist To / NINA /: Using The Paper To Cut Economic Relations With Turkey Should Be The Last Solution
Saturday 23 July 2022 10:44 | Economic Number of readings: 312 Baghdad / NINA / - The economic expert Safwan Qusay stressed: "Using the paper to cut economic relations with Turkey should be the last solution in the hands of Iraq," stressing: "Building balanced and strategic relations requires respect for Iraq's sovereignty and stopping any transgression on its security."
Qusay said in a statement to the National Iraqi News Agency ( NINA ): "In light of the presence of Iraq in a region that has been unstable in security for years, a policy of reciprocity must be adopted to preserve Iraq's security, and accordingly it is necessary to diversify the sources of access to goods and services and diversify the oil export outlets so that we can Adopting a policy of directing the volume of trade exchange, cooperation and economic integration with regional countries based on the role of those countries in supporting the stability of Iraq.
And he stated: "Iraq has multiple pressure cards, the first of which is the export of oil and gas and the opening of markets for imports. The current and future government must adopt the approach of determining the volume of commercial transactions based on the positions of those countries towards Iraq, as well as interacting with the peoples of those countries to put pressure on their governments because Iraq It does not seek to lose those peoples and wants to preserve its stability."
He pointed out that "if the abuses continue and neither diplomacy nor the Security Council succeeds, the economic and financial paper can be done by reducing the volume of import, imposing additional restrictions on it, and freezing future projects, including the export of gas and electricity, and linking the Silk Road with the European Union," stressing: "Building balanced and strategic relations It requires respect for Iraq's sovereignty and stopping any transgression on the country's security." /
Parliament Is Preparing To Challenge The Contracts And Agreements Of The Caretaker Government
Money and business Economy News-Baghdad On Saturday, the Parliamentary Integrity Committee threatened to challenge the contracts and agreements signed by the current government, as it is a caretaker government or daily business that does not have sufficient powers to sign them, warning the government against continuing with contracts outside of controls .
A member of the Parliamentary Integrity Committee, Ahmed Taha Al-Rubaie, said in an interview, "There are clear indications that the caretaker government has bypassed the constitution and the articles of the internal system. Ministers ."
Al-Rubaie added, "The current caretaker government continues according to its clear and indicated methodology with regard to contracts that have a clear and significant economic impact, and at the same time outside the controls and government instructions for the year 2014," noting that "these exceptions referred to, including going to the lowest bids and not opening the door Competition between companies opens a wide door to corruption and waste of public money, and this is a grave violation followed by the caretaker government .”
A member of the Integrity Committee warned, "the current government should not continue with its policy and go to correct this issue as it is in violation of the law and is a door to corruption and waste of public money," noting that "this issue will be discussed in the committee and addressing the concerned authorities for the purpose of correcting and correcting the course of the process in accordance with legal and constitutional frameworks ."
Al-Rubaie called "the government to review and correct the cabinet's decision to exclude the rehabilitation of Mosul International Airport in the last session of the Council of Ministers (Tuesday, July 19, 2022) from the effective contracting methods and budget instructions, and not to allow for manipulation of financial allocations for this vital project, which may delay its completion." Views 175 Added 07/23/2022 - 9:58 AM Update 07/23/22 - 5:03 PM https://economy-news.net/content.php?id=28977
Bloomberg: Iraq And Saudi Arabia Have Been Supplying Europe With Crude Oil On A Daily Basis Since The Beginning Of This Month
Economie| 08:59 - 23/07/2022 Follow-up - Mawazine News, "Bloomberg" agency, reported that Saudi Arabia and Iraq supplied Europe with crude oil, which helps the continent's oil refineries to overcome the shortage they suffer from.
The agency said that more than one million barrels of crude oil arrived in Europe from the Middle East on a daily basis in the first three weeks of July, through a pipeline crossing Egypt, and according to ship tracking data collected by Bloomberg, the volumes almost doubled from what they were a year ago.
Shipments from Saudi Arabia dominate pipeline flows, but Iraq is also increasing deliveries. Companies can either deliver in a pipeline called SuMed that crosses Egypt, or if there are ships small enough, the oil can move directly through the Suez Canal to the Red Sea. Iraq shipments do the latter, according to Bloomberg.
In addition to these flows, about 1.2 million barrels per day were shipped toward the canal from the Persian Gulf in the first three weeks of July, mostly from Iraq, according to Bloomberg. Ended 29/N33
The Dollar Is Rising In The Iraqi Market
Economie| 10:26 - 23/07/2022 Baghdad - Mawazine News The dollar exchange rates witnessed, today, Saturday, a slight increase in the Iraqi Stock Exchange. Selling price: 148,550 dinars per $100 purchase price: 148,450 dinars per $100 https://www.mawazin.net/Details.aspx?jimare=200162
Bloomberg: Iraq And Saudi Arabia Have Been Supplying Europe With Crude Oil On A Daily Basis Since The Beginning Of This Month
Economie| 08:59 - 23/07/2022 Follow-up - Mawazine News, "Bloomberg" agency, reported that Saudi Arabia and Iraq supplied Europe with crude oil, which helps the continent's oil refineries to overcome the shortage they suffer from.
The agency said that more than one million barrels of crude oil arrived in Europe from the Middle East on a daily basis in the first three weeks of July, through a pipeline crossing Egypt, and according to ship tracking data collected by Bloomberg, the volumes almost doubled from what they were a year ago.
Shipments from Saudi Arabia dominate pipeline flows, but Iraq is also increasing deliveries. Companies can either deliver in a pipeline called SuMed that crosses Egypt, or if there are ships small enough, the oil can move directly through the Suez Canal to the Red Sea. Iraq shipments do the latter, according to Bloomberg.
In addition to these flows, about 1.2 million barrels per day were shipped toward the canal from the Persian Gulf in the first three weeks of July, mostly from Iraq, according to Bloomberg. Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=200151
Baghdad Chamber Of Commerce Reveals The Volume Of Exchange With Turkey And Stresses The Need For A Boycott
Economie| 07:23 - 07/22/2022 Baghdad - Mawazine News, Friday, the Baghdad Chamber of Commerce called for a boycott of Turkish goods, following the attack on the Barkh resort in Dohuk governorate, which left 9 martyrs and 23 wounded, stressing that the volume of exchange amounts to $20 billion and the boycott is a necessity.
The head of the Baghdad Chamber of Commerce, Firas Al-Hamdani, told the official news agency, "The chamber calls on the Iraqi private sector to stop working with all Turkish companies as a result of the blatant attack that affected citizens in Dohuk Governorate."
He added, "The Chamber also calls on all merchants under the umbrella of the Chamber's General Authority to boycott Turkish goods to deliver a strongly worded message to the Turkish government, which has strategic relations with some of its companies."
He pointed out that "the volume of trade exchange with Turkey annually amounts to $20 billion, and the boycott will harm the Turkish economy and send a strong message that Iraq has the capabilities and capabilities to boycott these products in response to the ongoing violations with Turkey."
The Baghdad Chamber of Commerce demanded the head of the General Federation of Chambers of Commerce to issue directives to all chambers of commerce in all governorates to boycott trade exchange with Turkey.
The Ministry of Foreign Affairs confirmed, yesterday, Thursday, that the government is studying additional options in response to the Turkish aggression, including the economic paper.