Zig’s Place Chat and News Tuesday AM 4-27-21
Zig’s Place Chat and News Tuesday AM 4-27-21
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butterfly 2021-04-27 04:28 Shafaq News / the Central Bank of Iraq on Tuesday, announced decrease in the foreign currency exchange.
Shafaq News Agency correspondent said that the foreign currency auction of the Central Bank of Iraq recorded a 3.85% decrease to 200,454,012 dollars which the bank covered at an exchange rate of 1460 dinars per dollar.
He added that the sales operations were in the form of wire transfer (165,054,012 $) and credits (35,034,000$).
Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.
The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.
butterfly 2021-04-27 04:04 Shafaq News/ Gold held steady on Tuesday as market awaits a U.S. Federal Reserve meeting for cues on its monetary policy outlook, while a firmer dollar weighed on the metal's appeal.
Spot gold XAU= was flat at $1,780.86 per ounce by 0724 GMT. U.S. gold futures GCv1 were little changed at $1,780.70 per ounce.
"We're starting to see a bit of a perking up of the U.S. dollar and bond yields as well," DailyFX currency strategist Ilya Spivak said.
The dollar .DXY edged up, making gold less alluring for other currency holders, while benchmark U.S. 10-year Treasury yield US10YT=RR held close to the 1.570% level.
While no major policy changes are expected from the Fed's two-day policy meeting ending on Wednesday, investors will pay close attention to Chairman Jerome Powell's outlook on the economy.
Fed slashed its benchmark overnight interest rate to near zero last March after the pandemic hit the United States, and has promised to leave borrowing costs unchanged until the economy reaches full employment and inflation hits 2%. most likely scenario that markets are looking for is a status quo result," Spivak said, adding that, "the Fed is going to have a hard time sounding any more dovish than they already have been."
The Bank of Japan maintained its massive stimulus on Tuesday and projected inflation missing its 2% target for years to come, while new restrictions to counter a surge in COVID-19 cases clouded prospects of a fragile economic recovery. XPD= edged 0.1% lower to $2,924.67 per ounce, after scaling an all-time high of $2,941 on Monday.
"Pent-up demand in the auto sector is likely to fuel strong demand for PGM (Platinum Group Metals)-rich catalytic converters amid rising restrictions on emissions," ANZ analysts wrote in a note.
Silver XAG= fell 0.2% to $26.17 per ounce. Platinum XPT= was down 0.3% at $1,240.01.
butterfly 2021-04-27 03:02 Shafaq News / The dollar exchange rates dropped in the Iraqi market today, Tuesday (April 27, 2021).
• The Kifah Stock Exchange recorded 147,800 dinars, for $ 100.
• The Al-Harthiya Stock Exchange recorded 147,800 dinars for 100 dollars.
In Baghdad Selling prices in the banking stores in the local markets
•Sale price: 148,250 dinars for $ 100 • Purchase price: 147,250 dinars for $ 100
In Erbil Selling prices in the banking stores in the local markets
•Sale price: 147,800 dinars for $ 100 • Purchase price: 147,500 dinars for $ 100
Some currency exchange business owners said the prices are stable due to the weak demand of dollar, indicating that in the coming period the currency exchange rate will remain stable.
butterfly After a billion defense .. 300 million error in Baghdad operations
Time: 04/27/2021 13:59:58 {Locality: Al-Furat News} Baghdad Operations Command announced the return of 300 million dinars, which was accidentally spent on its salaries.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here
A statement of operations, the Euphrates News Agency received a copy of, stated that "an amount of 300 million dinars was returned by the Treasury Committee of the 3rd Commando Regiment in the Baghdad Operations Command's Commando Brigade to the bank, after an accounting error was discovered in the (Al-Boudro)" .
An officer had returned salaries at the first army aviation base, in the amount of one billion dinars to the Bank of the Ministry of Defense.
A statement by the ministry yesterday stated, "Al Furat News" received a copy of it that "due to the loyalty, loyalty and love of the Iraqi army heroes for the homeland, the salary officer at the First Army Air Force Base, Lieutenant Colonel Saddam Adi Muhammad Fahd, returned an amount (one billion dinars) to the Ministry of Defense bank," And who was admitted with the salaries inadvertently by the bank. "
butterfly Iraq in Talks to build Nuclear Reactors 27th April 2021 Iraq is reportedly in talks with Russia, France and the United States regarding the construction of three civil nuclear reactors.
According to The New Arab, the Head of the Iraqi Radioactive Sources Regulatory Authority (IRSRA) said that several preliminary meetings had been held to study the feasibility of setting up the reactors.
butterfly KAPITA launches New Co-Working Space in Baghdad 27th April 2021 KAPITA, in partnership with Iraqi Angel Investor Jafar Musawi (CEO of Atlas Plast), have opened up a new co-working space in Baghdad that aims to support the growing entrepreneurship and small business sector in Iraq.
The newly opened space 'CoWork', is a dedicated co-working space for companies, freelancers, startups and creatives who need a flexible and professional workspace in Baghdad.
CoWork is designed to be a convenient and affordable option for youth and freelancers to work from. It is a membership-based coworking space that has the capacity to serve up to 250 youth. This new space by KAPITA aims to create a network of productive Iraqi youth, linking freelancers with small business owners and startups, that enhances and develops the Iraqi ecosystem.
On the 22nd of April 2020, KAPITA held an opening ceremony for CoWork where a number of official figures and representatives from the Baghdad Chamber of Commerce attended along with respective figures from Banks, large corporations, prominent businessmen and Iraqi youth.
Mujahed Al Waisi, Executive Director of KAPITA stated:
"CoWork is a new addition to Baghdad, providing an important platform and space for companies, emerging projects and entrepreneurs. The entrepreneurship sector is expanding and growing rapidly in Iraq and there is greater need and urgency to keep up with these changes that are happening and a greater need to support the Iraqi youth in this sector."
butterfly Jaafar Musawi, the Angel investor of CoWork added:
"As businessmen, we know every well the challenges that any project in Iraq faces. We must contribute in opening up new opportunities for the Iraqi market and encourage foreign and local companies to expand into Iraq and relieve any pressures and challenges they may face by providing creative spaces, services and solutions. I am very happy to partner up with KAPITA and to be able to provide a new space for entrepreneurs in Iraq."
In addition, Bahaaddin Salim, CEO of Nass Al Iraq added:
''We are happy to support this space by providing the entrepreneurs with essential services that they require such as high-speed internet."
butterfly Dana Gas Resumes $600m Expansion in Iraq 27th April 2021 Dana Gas and its partner Crescent Petroleum have announced the full resumption of the expansion project at the Khor Mor field in the Kurdistan Region of Iraq (KRI), which the companies jointly operate on behalf of the Pearl Petroleum consortium.
The KM250 expansion involves further investment of US$600 million to add 250 million cubic feet per day of much-needed additional gas production to supply the local power stations. The project construction work had been put on hold due to the COVID pandemic but is now on track for a new target start date of April 2023, after agreement to lift the force majeure with both the Kurdistan Regional Government (KRG) and the contractor [Exterran].
Under a Gas Sales agreement signed in March 2019 with the KRG Ministry of Natural Resources, Pearl Petroleum will sell the additional quantities of gas to supply the power stations with affordable and environmentally cleaner fuel, and further enhance electricity supplies. Today over 80% of the KRI's electricity generation is enabled by the gas produced by the companies.
Current production at the Khor Mor field is 440 million cubic feet per day of natural gas as well as 15,700 barrels per day of condensate and 1,020 tonnes of liquified petroleum gas (LPG), or a total of 110,400 barrels of oil equivalent (boe) per day, making it the largest overall producer in the KRI and the largest private sector upstream gas operation in Iraq. After the KM250 train, there are plans to add a further KM500 train which would take production to almost 1 billion cubic feet per day by 2024.
butterfly Total investment to date exceeds US$2 billion with total cumulative production of over 332 million barrels of oil equivalent (boe), which has resulted in significant fuel cost savings and economic benefits for the Kurdistan Region and Iraq as a whole. In addition 43 million tonnes of CO2 emissions have been eliminated by displacing liquid fuels, which in turn has made a positive contribution to tackling global climate change as well as reducing local air pollution.
Mr. Majid Jafar, CEO of Crescent Petroleum and Board Managing Director of Dana Gas, commented:
"After a year of delay due to the COVID pandemic, we are pleased to fully resume the KM250 expansion project to invest US$600 million and grow the gas production almost 60% within 2 years from now, supporting the local electricity provision even further. Despite the challenges the whole world has faced over the past year we have kept our operations safe and managed to grow production and we are grateful to all our staff and to the KRG for its support."
Dr. Patrick Allman-Ward, CEO of Dana Gas, added:
"With our partners in Pearl Petroleum we are proud to be investing further in the gas sector of the Kurdistan Region of Iraq, delivering a reliable source of cleaner energy, and supporting local economic development. The continuing receipt of payments in a timely manner gives confidence for our continued investment commitment as we enter the next exciting phase of growth with the Khor Mor expansion, which will be carried out under strict health protocols to ensure the safety of our staff and service providers." (Source: Dana Gas)
butterfly The Council of Ministers holds its regular session headed by Al-Kazemi
Tuesday 27, April 2021 15:04 The Council of Ministers held its regular session today, Tuesday, headed by Prime Minister Mustafa Al-Kazemi.
butterfly Parliamentary law by / NINA /: The decision to cancel elections abroad is unconstitutional and subject to appeal before the Federal Court
Tuesday 27, April 2021 15:02 The Parliamentary Legal Committee disclosed the constitutional course for the Election Commission’s decision to cancel the voting of Iraqi voters residing abroad.
A member of the committee, MP Saeb Khadr, said in a statement to the Iraqi National News Agency ( NINA ) that "the decision to cancel foreign elections includes two sides, the first of which is a legal aspect that is subject to administrative technical accounts by the commission, and the other side is political, related to holding early elections and ensuring their integrity."
He added, "Practically and constitutionally, it is not permissible to cancel the voting of outside voters, because elections are a right guaranteed to all Iraqi citizens inside and outside the country," noting that "depriving citizens outside Iraq of this right is an illegal and unconstitutional measure, but the Commission's vision technically prevents the elections from taking their course." Constitutional according to law. "
He explained that "appealing the lawsuits is a legitimate right for everyone with an interest, based on the provisions of the Criminal Procedure Law, and the final decision remains with the Federal Court."
On March 23, the elections commission in Iraq decided to cancel the voting of voters residing abroad during the elections scheduled to take place on the tenth of next October, and returned the decision to technical, legal, financial and health reasons.
butterfly I see nothing. Again we wait.
Butterfly Baghdad hospital fire death toll rises to around 130 people: commission
17 hours ago ERBIL, Kurdistan Region — The death toll of a massive fire that ripped through Baghdad’s Ibn al-Khatib Hospital Saturday night has risen to around 130, according to Iraq’s human rights commission.
A report released following a fact-finding mission by the government-funded Iraqi High Commission for Human Rights reports a higher number of casualties than the government’s previous toll, on Sunday, of 82 deaths. It notes that many of the bodies have yet to be identified due to being burned beyond recognition.
The commission has found that the fire started after an oxygen cylinder exploded in a patient wing crowded with visitors. They say the number of people allowed in the space is evidence of the hospital’s failure to abide by the instructions of the ministry of health.
Fire extinguishing equipment present in the hospital was not used due to people not being aware of where it was stored, it says, also noting that many patients were rescued by companions and family members, rather than civil defense teams.
“The civil defense team arrived at the scene of the fire within an hour,” the statement reads, while the spokesman for the ministry of the interior, Major General Khaled al-Muhanna, claimed on Sunday that the team had arrived within 3 minutes.
butterfly The report has also found that the hospital had an insufficient number of specialized, trained night staff to monitor emergency cases in the hospital and that civil defense personnel did not fulfill their duties.
"All of the above indicates a clear deficiency in the level of providing health services to citizens and a flagrant violation of human rights, especially the right of healthcare, by government agencies represented by the Ministry of Health and the hospital administration," the statement reads.
Iraqi parliament’s health committee published a report on the incident on Monday noting “negligence and the lack of a central fire extinguishing system in the hospital.” The report also noted that some visitors used electrical devices to cook food inside the recovery halls.
Iraq’s top court announced Sunday evening that an arrest warrant has been issued for the director and other employees of Ibn al-Khatib Hospital.
Amnesty International has called on the Iraqi Government to “bring justice to the victims, hold those responsible accountable and take steps to ensure this never happens again. A hospital must be a safe space for people battling for their lives.”
butterfly Documents .. A parliamentary question to the Governor of the Central Bank regarding banks and currency outlets
Time: 04/27/2021 15:40:34 {Politics: Al-Furat News} Member of Parliament Jamal al-Muhammadawi addressed a parliamentary question to the Governor of the Central Bank of Iraq [Mustafa Ghaleb is scary] regarding monitoring banks, banking companies and brokerage offices for the sale and purchase of foreign currencies.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here
According to a document issued by his office, Al-Furat News Agency received a copy of it, Al-Muhammadawi said, "Through the audit of the Federal Office of Financial Supervision, the data on the capital of private banks, it was noticed that there were a number of banks that did not increase their capital to (250) billion dinars, in contrast to the uncles of the General Directorate of Banking and Credit Control. In the year 2013, we mention some of these banks, for example, the Dar Al-Salam Bank (150) billion dinars, the Babylon Bank (178.859) billion dinars, the Tigris and Euphrates Bank (100) billion dinars, and the Islamic Cooperation Bank (144,481) billion dinars. "
He added that "the follow-up of the Office of Financial Supervision showed that the Central Bank's instructions related to the sale and purchase of currency did not include anything indicating the follow-up of commercial lists provided by private banks in exchange for imported goods that were covered by credits, which causes the central bank to lose the control component of remittances."
butterfly He pointed out that "there are no deterrent measures by the General Directorate of Banking Supervision regarding banks that refrain from paying the issuance of letters of guarantee for a specified period of time."
Al-Muhammadawi added, "Some companies have been observed to engage in brokering activities in selling currency in Baghdad, but they are not installed in the database of the Banking Supervision Directorate."
He stressed that "companies mediating in the sale of currency benefited from the issuance of the Banking Control Directorate to stop requests to grant branches to banks, which led to companies and offices taking advantage of the legal loophole."
Al-Muhammadawi was surprised by the suspension of the activity of the mediation companies located in the governorates of Anbar and Nineveh. The suspension did not include the other hot provinces of Salah al-Din and Diyala in 2016.
Al-Muhammadawi revealed that the company (Al-Labab to mediate in the sale of currency) borrowed from the Iraqi Trade Bank an amount of (350) million dinars, that is, (70%) of its capital of (500) million dinars, in contradiction to the law, in addition to that the loan was granted to the company before it was registered with the Department. Company registration. ”
butterfly Al-Kifah and Al-Harithiya stock exchanges indicate a decline in dollar prices
Time: 04/27/2021 10:24:58 {Economic: Al Furat News} The exchange rates of the dollar fell, on Tuesday, on the main stock exchange in Baghdad and the Kurdistan Region.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here
Economists said that the central Al-Kifah and Al-Harithiya Stock Exchange in Baghdad recorded 147800 Iraqi dinars for 100 US dollars.
While the Central Al-Kifah Stock Exchange registered 148,000 Iraqi dinars, during its opening on Monday morning.
They indicated that the buying and selling prices decreased in the exchange shops in the local markets in Baghdad, where the selling price reached 148,250 Iraqi dinars, while the purchase prices reached 147,250 dinars per 100 US dollars.
butterfly Rafidain Bank announces the distribution of salaries for the employees of a number of state departments
Time: 04/27/2021 08:08:05 {Economic: Al Furat News} Al-Rafidain Bank announced the distribution of salaries of a number of ministries and state institutions through electronic payment tools.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. To subscribe, click here
The bank’s media office said in a statement that the Euphrates News Agency received a copy of it today that the salaries of employees of some ministries and state institutions have been distributed from those whose salaries have been settled with the bank and holders of the electronic Master Card.
He indicated that the bank continues to pay salaries according to specific contexts and dates.
butterfly Washington is ready to support the Central Bank and the Iraqi banking sector............................On Monday, the US ambassador to Baghdad, Matthew Toller, expressed his country's readiness to provide full support to the central bank and the banking sector in Iraq.
In a statement received by the Tigris, the Central Bank of Iraq said, "The Governor of the Central Bank of Iraq, Mustafa Ghaleb, is terrifying. He received the US ambassador to Iraq, Matthew Toller, and discussed with him ways of joint cooperation between the two countries in the monetary and economic fields, including emphasizing the importance of technical support and joint cooperation." For the advancement of the Iraqi banking sector. "
For his part, the ambassador expressed "his country's readiness to provide various types of support and assistance to the central bank and the banking sector in Iraq."
butterfly Al-Rasheed continues to grant advances electronically...........................Al-Rasheed Bank confirmed, on Monday, that it will continue to grant advances to employees of the Ministries of Defense and Interior, as well as retirees, electronically.
In a statement received by the Tigris, the bank said, "The submission is made directly without the beneficiary coming to the bank."
He pointed out that "there is no intermediary between the bank and the beneficiary," warning against "dealing with any party that claims otherwise."
Doug_W Silver:$26.54 +0.26
Butterfly Constitutional Amendments Committee to / NINA /: The final report is not yet complete
Tuesday 27, April 2021 15:54 The special parliamentary committee in charge of constitutional amendments revealed that its final report on constitutional amendments, which it was hoped would be presented to the House of Representatives, is still incomplete so far.
A member of the committee, Representative Yonadam Kanna, said in a statement to the Iraqi National News Agency ( NINA ) that "the Constitutional Amendments Committee did not complete all its work officially, due to several disagreements, the first of which is Article 140," referring to different views related to the Federation Council and the provisions of Article 76, regarding the formation of The new government and the description of the winning bloc in the elections, and the powers of the regions and governorates with the central government.
He added, "A small committee of representatives of the components of the Kirkuk governorate was assigned to resolve a joint formulation from all concerned parties and then include it in the final report of the constitutional amendments," noting that "the mini-committee has not produced anything to this day, and the final report is still incomplete so far." .
In late November 2020, the Special Parliamentary Committee in charge of constitutional amendments announced the end of its work with the existence of controversial points in need of political consensus, after it failed to hold its final meeting to discuss Article 140, due to the absence of representatives of the components and some of its members. The other political blocs prevented the quorum from being reached for the meeting
butterfly The Iranian Foreign Minister affirms support for the government and respect for the sovereignty and territorial integrity of Iraq
Tuesday 27, April 2021 16:08 confirmed Iranian Foreign Minister Mohammad Javad Zarif, the government 's support and respect for Iraq 's sovereignty and territorial integrity, adding to the depth of historical relations between Baghdad and Tehran,
Zarif said, during a meeting with national security adviser Qassem al - Araji in Baghdad on Tuesday that " the security adviser talks Nationalist Qasim Al-Araji, the last one in Tehran, was important and successful. "
The meeting witnessed a review of the Iraqi relations between Iraq and the Islamic Republic of Iran, and means of strengthening them, in a way that serves the interests of the two neighboring countries and peoples.
Sheila Did anyone notice that Royal Bank of Canada went belly up? Nothing much in news about that. Wonder if anyone can shed light on that event?
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