"Tidbits from TNT" Wednesday Morning 5-26-2021

May 26

TNT:

Cutebwoy: The dollar jumps and touches 150 thousand dinars in Baghdad and the Kurdistan Region

2021-05-26 05:20A-AA +

Shafaq News / The exchange rates of the dollar rose on Wednesday on the main stock exchange in Baghdad and Kurdistan Region.

The Shafaq News Agency correspondent said that the Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad registered 149,150 Iraqi dinars, compared to 100 US dollars.

While the Central Kifah Stock Exchange recorded 148850 Iraqi dinars during its opening on Tuesday morning.

Our correspondent indicated that the buying and selling prices rose in the exchange shops in the local markets in Baghdad, where the selling price reached 149,500 Iraqi dinars, while the purchase prices reached 148,500 dinars per 100 US dollars.

As for Erbil, the capital of the Kurdistan Region, the price of the dollar also witnessed a rise, as the selling price reached 149,200 dinars per hundred dollars, and the purchase was 149,000 dinars per hundred US dollars.

The dollar jumps and touches 150 thousand dinars in Baghdad and the Kurdistan Region

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Tishwash: The Central Bank of Iraq announces additional profits from negotiations on interest rates

The Central Bank of Iraq announced, on Wednesday, the achievement of additional returns in the first quarter of 2021, citing the reason for adopting the principle of self-management of investments.

A bank statement said, "Nas" received a copy of it (May 26, 2021), that it "achieved additional returns in its investments during the first quarter of 2021 compared to the fourth quarter of last year," adding that "this came as a result of adopting the principle of self-management of investments within His efforts in adopting international best practices in investment management that allow greater flexibility and control, benefiting from the electronic trading platforms owned by this bank, and training specialized technical cadres to work on them.

The Central Bank confirmed that "working according to the above mechanisms and practices achieved additional returns resulting from the difference in negotiating interest rates with correspondents, at a rate of more than 1% of the total returns achieved on this bank's investments for the first semester of 2021." link

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Tishwash: Calls to accelerate the implementation of Al-Kazemi's directives to promote investment 5/26

At a time when the Investment Authority is seeking to create appropriate climates to advance the current status of work, calls have increased to accelerate the implementation of Prime Minister Mustafa Al-Kazemi's directives regarding canceling investment project licenses that are stalled or of very low achievement.

Amid this picture, the consultant in industrial development and investment, Amer Al-Jawahiri, said that the projects that are lagging behind are major beneficiaries. Al-Jawahiri said: {The prime minister's directives regarding the stalled investment projects did not come in vain, but rather as a result of what the National Investment Commission had studied, and it was in the face of major beneficiaries of those lagging projects.

Project licenses

Prime Minister Mustafa Al-Kazemi had directed the cancellation of licenses for investment projects whose completion rate ranged between (0-35%) and the time period available for their implementation had expired, as the number of projects to which this applies is 1,128 projects, with full commitment to implementing the provisions of Article 28 of the Investment Law from During the issuance of warnings for unfinished projects.

Al-Jawahiri stressed the need to {search for the threads and intertwined roots in the lagging projects, and not just stop them, so it may require changes. Conducted by the Iraqi Media Network ».

Residential projects

He added that {what is required is to implement projects for the benefit of the country and for the benefit of citizens, despite the fact that most of these (lagging) projects took lands to establish housing projects and others}, pointing to {the importance of implementing procedures and directives that prove the rule of law and prove that the government represented by the Investment Authority and the concerned ministries is working on Take the necessary steps to improve the investment environment ».

Al-Jawahiri indicated that {monitoring corruption operations shows the existence of an executive body capable of this matter}, calling for {the prime minister's decisions to be covered by legislation. "

Financial revenue

To that, the economic expert, Nazem Al-Aqili, stressed that {the current stage requires that the country's efforts be directed to creating an ideal investment environment that advances the economy and addresses its problems and achieves financial revenues for the general federal budget}, pointing out that {international companies from different regions of the world have their sights set on Iraq, realizing The opportunity to work in our country is renewed, and this matter is unique to the countries of the world.

And they confirmed that {The investment portal represents urgent solutions to all the problems that the country suffers, as the country's economic performance has witnessed a clear decline in all its sectors, production and service.

Promote investment

He warned that {the local and international effort possesses capabilities capable of changing the reality of the economy in a short period of time, as it has capabilities that shorten time and effort, and this is in harmony with Iraq's need in the sectors of industry, agriculture and tourism, and these sectors are able to transfer the national economy to a new stage, and here it is necessary. An administration devotes all efforts to promoting investment and making Iraq a destination for all investments.

In a recent statement, the Economic and Investment Committee affirmed its support for the government's directive to withdraw the lagging investment licenses, calling on the National Investment Authority to study the files of lagging investment licenses, and to follow the legal contexts against violators in accordance with the applicable investment law.

Committee Chairman Ahmed Al-Kanani said:{The committee had previously called on the National Investment Commission to withdraw the lagging investment licenses that were granted for a long time, and no progress was made in its projects based on the investment law under which penalties and fines were imposed against violators, including the withdrawal of the investment license} indicating that {the license can be canceled.

The investment is not related to the end of the project implementation period itself, and it has not started. Rather, the cancellation of the license is done according to the violations stipulated in the Investment Law. link

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