Saturday AM Iraq Economic News Highlights 9-10-22

Tehran Announces Iraq's Approval Of The Entry Of Iranian Buses - Urgent

Internationals 2022-09-10 | 03:25  Source: Knight  4,590 views   Alsumaria news - International, Iranian Interior Minister Ahmad Wahidi announced today, Saturday, that the Iraqi authorities have approved the entry of Iranian pilgrims for the Arbaeen of Imam Hussein (peace be upon him) by Iranian buses to Iraq.

In a press interview, Vahidi said, referring to the process of visitors crossing the border: With the approval of the Iraqi authorities, part of the movement of visitors will be carried out by Iranian buses entering Iraq.

The Iranian government spokesman considered the Iraqis' service to the millions of pilgrims in Al-Arbaeen as taking place with all brotherhood and without grace, indicating that the significant increase in the number of pilgrims to the holy shrines requires the cooperation of all with those who serve pilgrims in Iran and Iraq.

Ali Bahadri Jahromi said in his tweet in this regard: This year, as always, the fraternal and sincere service by Iraqis to the millions of visitors to Abi Abdullah Al --Hussein (peace be upon him) is exemplary.

He added: The significant increase in the number of visitors to the holy shrines compared to previous years requires additional services and more cooperation and synergy with those who serve visitors in Iran and Iraq. LINK

Integrity Stops Wasting 8 Billion Dinars In A Road Project In Dhi Qar Governorate

Iraq   12:10 - 09-10-2022   Today, Saturday, the Investigation Department of the Federal Integrity Commission confirmed that it had stopped wasting 8 billion dinars of public money in a road project in Dhi Qar Governorate.

A statement by the department stated, "The team of the Dhi Qar Investigation Office carried out three separate seizures, the first of which succeeded in stopping the waste of 8 billion dinars of public money in a project in the province through investigation, auditing and follow-up."

He continued, "The team stopped the drainage work for an additional (fictitious) disclosure of the dirt works of the Islah-Jbayish road construction project," noting that "the (mock) disclosure was prepared by the resident engineer department on the project implemented by a Malaysian company."

He pointed out that "during the second operation, a distortion and tampering of government receipts and journal records in the Governorate Investment Authority was revealed, in order to facilitate investment transactions on specific dates, in violation of the law," noting that "the team carried out audits of the authority's arrest receipts dating back to 2019". .

He pointed out, "The team that moved to the Directorate of Al-Nasr Municipality, monitored cases of embezzlement of tax funds in the increase of fruits and vegetables in the city, and seized the origin of tax receipts for the amounts of imports for the allowance," explaining that "the External Audit Division in the Dhi Qar Investigation Office is checking the priorities. to determine the total amount of embezzlement.

https://kirkuktv.net/AR/Details/8796

The Ministry Of Electricity Clarifies The Developments Of The Gulf Connection And The Date Of Its Completion

Iraq   11:59 - 09-10-2022   The Ministry of Electricity has set the date for the completion of the electrical connection with Jordan, Turkey, Kuwait and Saudi Arabia.

A spokesman for the Ministry of Electricity, Ahmed Moussa, said that work on the interconnection project with Jordan is progressing quickly, and it is hoped that it will be completed by next summer.

With regard to the connection with Turkey, he explained that the final operating agreement was signed with the Turkish side, which provided for the provision of three hundred megawatts as a first stage for the northern governorates. .

Regarding the Gulf connection and what has been achieved from it, an agreement signed with Saudi Arabia stipulates that the carrier lines will link between Iraq and Saudi Arabia through the Arar port and Yusufiya station, and there are currently technical studies to determine the connection points.

He pointed out that the interconnection projects with Kuwait and Saudi Arabia will give high reliability, readiness and stability to the electrical system and pave the way for Iraq to be an important member of the Gulf and Arab energy market.    https://kirkuktv.net/AR/Details/8794

Finance Issues A Clarification Regarding The Categories Of Wages, Lecturers And Contracts

Iraq   20:05 - 09-09-2022   Today, Friday, the Federal Ministry of Finance issued a clarification regarding the categories of wage earners, lecturers and contracts, while it confirmed its approach to the Cabinet Secretariat regarding those appointed in 2019.

The ministry said in a statement, that it “refers to its uncles No. 26377 dated August 23-2022, which includes its confirmation to all ministries.” And agencies not associated with the Ministry and the governorates, provide them with the tables for those covered by Resolution 315 of 2019 and amended by Resolution 337 of 2019 as contained in the Emergency Support Law for Food Security and Development, after re-audit and review, because some of the data sent by those authorities are incorrect and others are incomplete.

She added, "With regard to the decision to stop contracts and wages transactions, it was noted that some spending units from some parties continued to contract before and after the publication of the Food Security Law, which constitutes a violation of Law 315 and is considered to be inconsistent with the applicable contexts and regulations."

And she continued: "As for those who were appointed after 10/2/2019 from the employees of the companies of the Ministry of Industry, lecturers in higher education, education funds and endowment offices, the General Secretariat of the Council of Ministers was approached to consider them."

She noted that "the subject of the 1,000 contracts allocated to each governorate according to the Food Security Law, is not covered by our uncles."

The ministry expressed its astonishment at the statements of personalities aimed at achieving the goals and interests of the personality, according to its expression,

noting that "The ministry affirmed its keenness to implement all paragraphs of the emergency support law as quickly as possible and in a manner that ensures justice for the various segments and categories contained within it.    https://kirkuktv.net/AR/Details/8783

The Dollar Stabilizes In The Iraqi Market

Economie| 10:34 - 10/09/2022   Baghdad - Mawazine News  The dollar exchange rates witnessed, today, Saturday, stability in the Iraqi Stock Exchange.

And the selling prices of the dollar were 147,900 dinars per 100 dollars, while the purchase prices of the dollar were 147,800 dinars per 100 dollars. Ended 29 / m 99    https://www.mawazin.net/Details.aspx?jimare=205017

Sumo: The OPEC Agreement Affected The Increase In Revenues Entering Iraq

Economie| 04:09 - 09/09/2022   Baghdad - Mawazine News  The Iraqi Oil Marketing Company "SOMO" confirmed today, Friday, that it had received requests to increase the quantities of Iraqi oil exported to Asia, while noting that the OPEC agreement affected the increase in revenues entering the country.

The company's general manager, Alaa Al-Yasiri, said that "Russia is currently present in Asia as a competitor, but it will not affect the presence of Iraq, as the Oil Marketing Company has contracted with major government companies in major crude oil consuming countries."

Al-Yasiri added, “Iraq is in contract with almost all government refineries in China, as well as with government refineries in India, and these countries are not willing to risk abandoning Iraqi crude oil because they are certain that Russian crude from an economic point of view is better for it to go to Europe because the distance The pipeline network and the cost of transportation all have effects, and if the problem between Russia and Ukraine ends, the Russian exporter does not prefer sending crude to Asia and will send it to Europe,

while Iraq prefers sending its crude oil to Asia because they see that the future is with Iraqi crude and they will not give it up at a time when they are buying Quantities of markets in order to raise their stocks, but so far none of our customers has requested to cancel the contract, on the contrary, there is a request to increase quantities in Asia.”

And he added, "Iraq has not had a reduction for a while, and now it exports all the quantities available for export and there is no problem, and all the quantities produced in excess of the domestic need available for export are completely exported," noting that "the OPEC agreement affected raising the revenues that enter Iraq."

He continued: "In previous periods, the revenue from exports to the Ministry of Finance ranged between one and a half billion and two billion before the agreement, but after it, prices began to recover and reached $60 and $70, and during the Ukrainian crisis, the price reached $100, so the revenue thus exceeded 11 billion." dollars a month, and now we've made $82 billion."

He pointed out that " And he stated, "The seminars are large and the company invites all international companies to attend them," noting that "this year the seminar took place in Singapore, and Sumo met with all the companies that own the refineries and explained to them their mechanism of work and their marketing procedures, and also the meeting was held with our customers and they told us what they want in Next year, there will be an increase in quantities and a change in the type of crude oil purchased.”

He pointed out that "some companies may want to change heavy oil to medium and vice versa, and some companies have objections that must be taken into account with regard to fines, logistics and berths, and most important of all are the specifications of the crude sold," adding: "We have committees that form For the purpose of determining quantities and buyers for the coming year.

He noted that "Iraq for three years is the first supplier of crude in India, as it imports from many countries as one of the large countries, as well as China, but now it is said that this year will be the competitor to Iraq, Russia in this market, but Iraq is still the largest supplier to the market." ".

He continued: "Saudi Arabia is a major exporter and producer of crude oil and a very important competitor, and it has a presence in all markets through large investments, not only through the commercial relationship in buying and selling, but they have investments in various refineries in the world. Among their conditions in these investments is that the oil that is used in This refinery must be in a certain proportion purely Saudi, as it is a competing country, but the market needs Saudi and Iraqi oil.”  

He emphasized, that "   He concluded by saying: "As for the ministerial meetings, the Saudi prince, the minister, and the one before him always communicate, considering that the Iraqi oil minister is very important and influential in making decisions, so most decisions are discussed with the ministers for the benefit of the two countries, since the benefit is mutual." https://www.mawazin.net/Details.aspx?jimare=204955

Formation Of A Technical Committee To Determine The Price Per Square Meter In Housing Units In Baghdad

Political | 10:20 - 10/09/2022   Baghdad - Mawazine News   The Baghdad Investment Commission has formed a specialized technical committee to determine the price of one square meter of housing units and to obligate investors to it.

Haider Al-Ansari, chairman of the authority, said that "the committee that set the prices relied on the technical study of the project that shows the level of technology used in construction and the financial study that includes the price analysis to calculate the costs and profits presented within the economic feasibility study by the investor, as well as the detailed tables of quantities for construction, architectural, electrical and mechanical works." and others including price and origin.

Al-Ansari added in an interview with the official "Al-Sabah" newspaper, which was followed by "Mawazine News", that "the instructions of the National Investment Commission obligated the investor to the price established by the economic feasibility study, and otherwise it is a violation that requires the application of Article 28 of the amended Investment Law No. 13 of 2006."

Al-Ansari explained that “determining the prices of housing units within the investment housing complexes that obtained a license from the Baghdad Investment Authority shall be in accordance with the letter of the General Secretariat of the Council of Ministers in October 2020, which includes preventing investors from speculating in the prices of housing units, as the National Investment Commission issued its instructions in October of the year.” Next 2021, which obligated the investor to the price fixed in the economic feasibility study https://www.mawazin.net/Details.aspx?jimare=205015