"Tidbits From TNT" Tuesday Morning 4-6-2021

Apr 6

TNT:

Tishwash: Less than a week after its approval .. Disclosure of a parliamentary move to amend the Budget Law

On Monday, the State of Law bloc revealed a parliamentary move to amend the General Budget Law for the year 2021, while noting that the law did not include the allowances for free lecturers and whose contracts were canceled in the Ministries of Interior and Defense .

Lawyer Ali Al-Ghanmi said: "There is a move by members of Parliament to amend some articles and paragraphs of the General Budget Law for 2021 that were recently voted upon in the House of Representatives ."

He added, "The voting law did not include any financial allocations for the insane lecturers in the Ministry of Education and whose contracts had been canceled in the Ministries of Interior and Defense ."

Al-Ghanimi pointed out that "until now, the extent of the government's seriousness and response to the demonstrators has not been clarified to send the amendment to the budget law to the House of Representatives," stressing that "Parliament is ready to vote on the budget amendment whenever it arrives at the parliament building link

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Harambe: CNBC: Oil falls more than 4% as coming OPEC+ production ramp weighs

(4/5/21)

Oil fell more than 4% on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States.

The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on Thursday to monthly production hikes from May to July. OPEC member Iran, exempt from making voluntary cuts, is also boosting supply.

“The timing was not good,” said Bob Yawger, director of energy futures at Mizuho Securities. “It seemed like OPEC+ was going to roll the deal, but they didn’t and now it looks like they’re going to have to pay at least in the short term.”

Brent crude for June fell $3.08, or 4.8%, to $61.78 a barrel. U.S. West Texas Intermediate crude for May settled $2.80, or 4.56%, lower at $58.65 per barrel.

In another development that could eventually boost supply, investors are focused on indirect talks between Iran and the United States as part of negotiations to revive the 2015 nuclear deal.

“There is an assumption that we’re going to see this flood of Irianian oil in the market,” said Phil Flynn, senior analyst at Price Futures Group in Chicago. “I think this is overstated a little bit.”

Eurasia analyst Henry Rome said he expected U.S. sanctions, including restrictions on Iranian oil sales, to be lifted only after these talks are completed and Iran returns to compliance.

Iran has already boosted exports to China despite the sanctions.

Oil has recovered from historic lows last year with the support of record OPEC+ cuts, most of which will remain after July. Demand is expected to recover further in the second half.

While a slow vaccine rollout and return to lockdown in parts of Europe have weighed, figures on Friday showed the U.S. economy created the most jobs in seven months in March.

Still, tightening lockdowns in France and a spike of cases in India have darkened the outlook for a global economic rebound to boost oil demand.

https://www.cnbc.com/2021/04/05/oil-markets-opec-and-allies.html?

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Tishwash: This is what the central bank governor discussed with Plasschaert

Governor of the Central Bank, Mustafa Ghaleb, discussed, on Tuesday, with the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Hennes Blashardt, the financial and economic conditions that Iraq is going through.

A bank statement, of which Mawazine News received a copy, said, "Today, the Governor of the Central Bank of Iraq, Mustafa Ghaleb, received the Special Representative of the Secretary-General of the United Nations in Iraq, Jenin Hennes Blashardt."

The statement added, "The governor discussed during the meeting the financial and economic conditions that Iraq is going through and the measures that the management of this bank leads within the reform plan for the Iraqi banking sector."

For her part, the representative of the United Nations, Blashardt, affirmed "supporting the independence of the Central Bank of Iraq, like other international central banks, and its importance during the current and future period." link

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Tishwash: Consensus to move towards creating an attractive environment for money and technology

Prime Minister Mustafa Al-Kadhimi's visit to the United Arab Emirates reflected a major interaction with Iraq's opening up regionally and internationally, and serious desires to communicate with Iraq, where the UAE has invested 3 billion dollars in investments in the Iraqi labor market.

"Prime Minister Mustafa Al-Kadhimi's visit to the United Arab Emirates was important, and it strengthened the relationship and targeted the development discourse, so the achievement was to agree to support UAE investments with 3 billion dollars to finance investment projects in Iraq and develop infrastructure," Prime Minister Dr. Hussein Allawi's advisor told Al-Sabah.

Community security

"Promising projects with Uae companies in the energy, electricity, transport and housing sectors are strategic projects that the Iraqi government is working to strengthen, in order to provide employment opportunities for young people in Iraq and improve the working environment of the Iraqi economy, especially since today we need technology and project management techniques, and here we must develop the concept of community security to develop a community environment that fosters investments in The Iraqi provinces," he said.

Strengthening relationships

"Strengthening Iraq's international regional relations represents an important step, which requires employing them in a way that will benefit the national economy, especially with the presence of international desires to communicate with Iraq, which has a renewed labor market that accommodates local, regional and international efforts," said Haitham Naeem al-Mayali, a member of the Businessmen's Union.

"The Initiative of the United Arab Emirates to inject 3 billion dollars into the Iraqi labor market is a first step that reflects the international desire to be inside Iraq and invest money, and here we must work towards creating an attractive working environment for investments and supporting the development of the national economy," he said.

Uae Rapprochement

"There is a development in relations between the UAE and Iraq and the visit of Prime Minister Mustafa Al Kadhimi to the UAE, to confirm the extent of the UAE-Gulf rapprochement with Iraq, where we can point this out by agreement to open a direct airline with Abu Dhabi, starting next month, and supporting the investment sector by 3 billion dollars, which means strengthening Iraqi cooperation with its Arab surroundings," he said. link

Mot: ~~~ Yeppers!!! --- Backseat Drivers!! ~~~