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Clare:  With the participation of 80 companies.. Opening of the Iraq International Exhibition for Building and Construction

12/12/2024  Baghdad - WAA - Hassan Al-Fawaz

Baghdad Governor Abdul Mutalib Al-Alawi opened the Iraq International Exhibition for Construction, Building and Infrastructure today, Thursday, while pointing out that most of the participating companies are from the private sector, which is the main partner in the process of construction, reconstruction and development.

Baghdad Governor Abdul Mutalib Al-Alawi said during the opening of the Iraq International Exhibition for Construction, Building and Infrastructure to the Iraqi News Agency (INA): "Today we opened this exhibition, which contains materials involved in the field of construction and reconstruction taking place in Iraq in general and especially in the capital, Baghdad."

He added, "The products of these companies on display are made with the latest technologies and we are in dire need of them as Iraq is witnessing a major urban renaissance, in addition to the market's need for such products," noting that "most of the companies participating today are from the private sector, which is the main partner in the process of construction, reconstruction and development in general."

He explained that "these companies come to Baghdad and display their products, and they will have a share in the Iraqi market and contribute to development in all governorates."

For his part, the Assistant Director General of the Private Sector Development Department at the Ministry of Trade, Mohammed Hanoun, confirmed to the Iraqi News Agency (INA), that "Iraq is witnessing a major urban renaissance that requires international, Arab and Iraqi companies to participate in the process of construction, rehabilitation and reconstruction, as well as strengthening partnerships between the Iraqi and international private sectors and giving a realistic picture of what Iraq is witnessing in terms of reconstruction and building."

He pointed out that "international companies provide many construction materials that will in turn contribute to the construction process that Iraq is witnessing, noting that "this exhibition, in its third edition, is the largest in terms of the participating companies and the quality of the materials on display."

He added, "We aspire to achieve a partnership between the Iraqi and international private sectors, and for state institutions to benefit from this exhibition in a way that enhances development, construction, reconstruction and investment in Iraq."   LINK

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Clare:  The Securities Commission warns against dealing with fictitious companies claiming to provide stock trading services

12/12/2024  Baghdad

The Securities Commission warned citizens, on Thursday, against dealing with fictitious companies that claim to provide online stock trading services.

A statement by the Authority, seen by Al-Eqtisad News, quoted its Chairman, Faisal Al-Haims, as saying, “These misleading companies that publish their advertisements on social media sites aim to exploit and deceive citizens.”

Al-Haimas called on "citizens to invest in the Iraqi Stock Exchange, where there is a safe investment environment and companies licensed by the Commission, subject to strict controls and laws set to protect investors and guarantee their rights."

He added, "The Iraq Stock Exchange includes reliable companies operating in various sectors, and provides promising investment opportunities. We invite everyone to visit the official website of the Securities Commission to verify the companies authorized to trade."

The Authority indicated that it "continues to monitor the market and take the necessary measures against illegal entities," stressing "the importance of being accurate and avoiding dealing with suspicious entities."   LINK

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Clare:  Central Bank Governor: Opening external channels with foreign currencies to eliminate the black market

12/12/2024  Baghdad - WAA -

Governor of the Central Bank, Ali Al-Alaq, confirmed today, Thursday, that opening channels in foreign and Arab currencies achieves stability in the exchange rate and gradually eliminates the black market.

The media advisor of the Trade Bank of Iraq (TBI), Aqeel Al-Shuwaili, said in a statement received by the Iraqi News Agency (INA): "The governor of the Central Bank visited the Trade Bank of Iraq and appreciated the bank's efforts to expand its customer base of importing merchants and the procedures to facilitate their transactions in a way that contributes to achieving stability in the exchange market. "

The governor of the Central Bank stressed - according to the statement - the need to make efforts to achieve fluidity and provide the best banking services to the bank's customers.

The governor pointed out that "the Central Bank's continued opening of multiple external channels in foreign and Arab currencies achieves continuous stability in the exchange rate and gradually eliminates the black market."  LINK

Clare:  MP reveals movement to call for early elections: Ending the parliament that offers nothing to the people

12/12/2024

Independent MP Mohammed Al-Ziyadi revealed on Thursday that there is a desire to submit a request to the presidency of the House of Representatives to hold early elections and end the work of the current House of Representatives, indicating that the parliament was unable to legislate important disputed laws. 

Al-Ziyadi told Shafaq News Agency, "The House of Representatives, during the period of extending the legislative term, was unable to legislate important and disputed laws," stressing that "the heads of the political blocs were unable to manage the sessions." 

Al-Ziyadi continued: “If the legislative role of the House of Representatives continues to be disrupted after the holiday and in the next legislative session, we will collect signatures to demand early elections and the end of this council, which is no longer able to provide services to the citizen or the country.”

He explained, saying: “After the legislative holiday and in the next legislative session, we will submit a request to the Council Presidency to hold early elections for the House of Representatives by amending the elections law and setting a date for holding legislative elections in the country.”

The Iraqi Council of Representatives failed to hold its 20th regular session on Sunday, December 8, to vote on proposed laws, Personal Status Law No. 188 of 1959, the return of properties to their owners covered by some decisions of the dissolved Revolutionary Command Council, and the second amendment to the General Amnesty Law No. 27 of 2016.

Although the House of Representatives extended its legislative session for 30 days on November 7th to pass pending laws, the House was also unable to pass these controversial laws during the extension period, and thus they were postponed until the new legislative session.

The House of Representatives entered a legislative session recess after extending it for 30 days based on Article 58 of the Iraqi Constitution. Consequently, that period has ended and it has become obligatory to enter a recess from December 9 of this year to January 9, 2025, according to political researcher Saif Al-Saadi.   LINK

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Clare:  Blinken arrives in Jordan on Middle East tour to discuss Syrian crisis

12/12/2024

US Secretary of State Anthony Blinken arrived in Jordan on Thursday, starting a tour to discuss the crisis in Syria after the overthrow of Syrian regime President Bashar al-Assad.

US officials told reporters accompanying him that the outgoing Blinken will meet with Jordan's King Abdullah II and his foreign minister in the Red Sea city of Aqaba (about 325 kilometers south of Amman) as part of his efforts to have an "inclusive" process to select members of the next Syrian government.

Upon his arrival, Blinken headed to the meeting, and is scheduled to travel to Türkiye later today.

Blinken called for an "inclusive" process to form the next Syrian government that includes protecting minorities after opposition factions led by Hayat Tahrir al-Sham ended the rule of Bashar al-Assad, who belongs to the Alawite sect, which constitutes a minority in Syria.

The US State Department said in announcing Blinken's tour that he would call for an authority in Syria that does not provide "a base for terrorism or pose a threat to its neighbors," in reference to concerns expressed by both Turkey and Israel, which has carried out hundreds of airstrikes in the neighboring country in recent days.

State Department spokesman Matthew Miller said that during the discussions in Aqaba on the Red Sea, "Blinken will reiterate U.S. support for an inclusive transition to accountable and representative government."

It will also discuss "the need to respect the rights of minorities, facilitate the delivery of humanitarian aid, prevent Syria from becoming a base for terrorism or a threat to its neighbors, and ensure that chemical weapons stockpiles are secured and safely destroyed."

This is Blinken's twelfth visit to the Middle East since October 7, 2023, and the Hamas attack on Israel, which responded with a violent and destructive campaign that is still ongoing in the Gaza Strip.

Blinken's previous trip ended in disappointment after he failed to secure a deal in which Israel and Hamas would end the war in exchange for the release of hostages held in Gaza.

Blinken will leave office on January 20 with the administration of President Joe Biden.

President-elect Donald Trump has described the situation in Syria as a "chaos" and said the United States should not intervene, although he has not clarified U.S. policy since Assad's fall.   LINK