“Tidbits From TNT” Friday Morning 11-1-2024

TNT:

Tishwash:  The CEO of the Iraq Stock Exchange has been relieved of his post.

The Iraq Stock Exchange announced on Thursday the dismissal of the market's CEO, Taha Ahmed Abdul Salam, from his position.

The market said in a statement, seen by "Al-Eqtisad News", that the market's CEO, Taha Ahmed Abdul Salam, was dismissed from his position today, Thursday.

It added that "the head of the Securities Commission, Faisal Al-Haimus, was also chosen to replace Abdul Salam."   link

Tishwash:  In cooperation with a foreign advisor.. A parliamentary committee announces its efforts to amend the Oil Ministry Law

The Parliamentary Oil and Gas Committee announced today, Friday, a move to amend the Ministry of Oil Law 101 of 1976, while indicating that the draft will be presented to the Council of Ministers soon.

MP Basem Naghmish, a member of the Oil and Gas Committee, said: “A subcommittee was formed within the Oil and Gas Committee to review the legislation related to the oil sector, and it was called the “Oil Legislation Committee”.
He explained that “the committee is working to review several laws, with the aim of amending them to suit the current requirements of the oil sector”, indicating that “among these laws is the Oil Ministry Organization Law No. (101) of 1976, which is considered an old law that was amended about three times, the last of which was in 1982”.

He added that “the ministry witnessed many technological and administrative developments during the period after 2003, as the work of the Oil Ministry expanded and formations multiplied, in addition to the creation of some formations”.

He pointed out that “the draft to amend the law is still in the preparation phase, and cooperation is being done with a foreign consultant contracted with the ministry to provide his comments, and then the draft will be submitted to the Council of Ministers and to the advisors, and then to the State Council, in order to study the extent of its consistency with the legal system in the country”.

He continued: “After that, the draft will return to the Council of Ministers and then to House of Representatives to complete legislative procedures  link

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Tishwash:  Al-Sudani congratulates Al-Mashhadani: We renew the legal and constitutional commitment to support the oversight role of the House of Representatives

Prime Minister Mohammed Shia Al-Sudani congratulated Mahmoud Al-Mashhadani on his election as Speaker of Parliament today, Thursday.

Al-Sudani said in a tweet on the {X} platform: “I extend my congratulations to Mahmoud Al-Mashhadani on the occasion of his election as Speaker of the House of Representatives. I also congratulate the members of the Council and all national political forces for their decision on this important constitutional entitlement, in a step that serves to complete the service of our people, which is a goal that the government has adopted as a slogan since the beginning of its work.”

He added, "On this occasion, the government affirms its determination to continue implementing its government service development programme, in full cooperation with the constitutional authorities, foremost of which is the legislative and oversight authority, represented by the House of Representatives."

Al-Sudani renewed "the legal and constitutional commitment to support the oversight role of the House of Representatives, which complements the work of the government and consolidates its performance in its priorities, by combating corruption and implementing the required reforms," ​​concluding, "We ask God Almighty for success and guidance for the Speaker of the House of Representatives and the esteemed Council in performing its duties, and everything that our honorable people await."  link

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Tishwash:  Al-Sudani's advisor identifies 3 priorities for the Iraqi economy: We are working on a new approach

 The Prime Minister's Representative, Technical Advisor and Head of the Sovereign Loans Initiative, Mohammed Sahib Al-Daraji, confirmed today, Thursday, that the private sector is a fundamental pillar in the government's new economic plan, while pointing to the government's efforts to reduce the transfer of hard currency and support national projects.

Al-Daraji said in a speech during the first Iraqi Economic Forum that "the Iraqi government has begun taking real steps to support the Iraqi economy, as it has changed the philosophy of the economy that suffered from a lack of clarity in the economic vision for more than twenty years."

He pointed out that "the government is working on a new approach that considers the private sector a fundamental pillar and seeks to integrate its outputs into the national product," noting that "the government provides special support to the investment and business environment sectors, as it seeks to separate direct investment and provide an appropriate environment for the private sector to participate in projects. The government also encourages partnerships with foreign companies to demonstrate developments in the customs and tax system, such as unifying taxes and customs tariffs across regions, and exempting foreign companies from some special taxes."

He pointed out that "Iraq has begun to guarantee the private sector before international financial institutions through the Sovereign Guarantees Initiative, and has moved towards establishing an international market for carbon bonds to support project financing."

He pointed out the "three priorities of the Iraqi economy: localizing industries, integrating with global financial institutions, and developing competencies for the public and private sectors," adding that "the Iraqi market is open to global companies, especially in the construction and clean energy sectors, and that there is a trend to support the private sector through new legislation such as laws to protect intellectual property and partnerships between the public and private sectors."

He added, "The government supports the economy based on partnership with the private sector, with a focus on reducing the transfer of hard currency abroad.

He expressed his "hope that these conferences will produce outcomes that support the current government's orientations, which is the most attentive to the private sector and the most involved in decisions," noting "the presence of representatives from the private sector on the Development Fund's Board of Directors and within the Prime Minister's official delegations as a message of support for businessmen."  link

Mot .. Ooooooh Nooooooo -- Better Get Ready!!!!! 

Mot ....... Let the Truth Be Known!!!