Zig’s Place Chatroom News Early Monday 9-20-21

Zig’s Place Chatroom News Early Monday 9-20-21

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Butterfly   Iraq and Switzerland discuss joint cooperation

Monday 20 September 2021 13:35 https://ninanews.com/Website/News/Details?key=928155 Head of the Acting Protocol Department, Ali Shamran Hajim, received the Swiss Ambassador in Baghdad, Lucas Jacir.

A Foreign Ministry statement said that Hajim welcomed the ambassador, wishing him success in his work duties, expressing the readiness of the Protocol Department to provide full support for the success of the work of the Swiss mission in Iraq and in a manner that serves the interests of the two friendly peoples.

For his part, Jasser expressed his great thanks and gratitude for the efforts made by the Protocol Department to support the Swiss mission in the Republic of Iraq.

Butterfly   https://www.shafaq.com/en/Economy/Oil-down-on-stronger-greenback-rising-U-S-rig-count Oil down on stronger greenback, rising U.S. rig count ..................... 2021-09-20 01:06

Shafaq News / Oil prices fell on Monday, extending losses from Friday after the U.S. dollar jumped to a three-week high and the U.S. rig count rose, although nearly a quarter of U.S. Gulf of Mexico output remained offline in the wake of two hurricanes.

Brent crude futures fell 48 cents, or 0.6%, to $74.86 a barrel at 0410 GMT after losing 33 cents on Friday.

U.S. West Texas Intermediate (WTI) crude futures fell 55 cents, or 0.8%, to $71.42 a barrel, after declining by 64 cents on Friday.

"Strength in the USD over the last couple of days has provided some headwinds to the market," researchers at ING Bank said in a note on Monday.

Oil fell with the greenback near a three-week high following a rally on Friday on better-than-expected U.S. retail sales data. That bolstered expectations the U.S. Federal Reserve will begin reducing asset purchases later this year.

"WTI crude may consolidate over the next few trading sessions until the trajectory of the dollar is a little clearer," OANDA analyst Edward Moya said in a note.

ING said that a tapering announcement this week would "likely put some downward pressure on oil and the broader commodities complex," although it added such an announcement was more likely in November.

A stronger greenback makes U.S. dollar-priced oil more expensive for holders of other currencies, curtailing demand.

A rise in the U.S. rig count also kept a lid on oil prices. The oil and gas rig count rose by nine to 512 in the week to Sept. 17, its highest since April 2020 and double the level from this time last year, Baker Hughes said on Friday.

As of Friday, 23% of U.S. Gulf of Mexico crude output, or 422,078 barrels per day, remained shut, the Bureau of Safety and Environmental Enforcement reported.   Source: Reuters

Butterfly   For the first time since 2019, there is talk of a “no deficit” financial surplus in Iraq

2021-09-20 08:20  For the first time since 2019 there is talk of a no deficit financial surplus in Iraq Shafaq News / The Parliamentary Finance Committee announced, on Monday, that the salaries of employees will be secured for the current year, while it indicated that there is a surplus in the current budget.

This is the first time that a competent executive or legislative body has talked about the existence of a financial abundance, not a budget deficit.

The current year’s budget approved a deficit estimated at 28 trillion dinars.

A member of the Finance Committee, Naji Al-Saidi, told Shafak News Agency, “The salaries of employees in the current budget are absolutely secured, and there is a surplus and there is no deficit in the budget.”

Al-Saidi added, “The use of this surplus is to release employee bonuses and promotions, and most ministries’ budgets allow this,” noting that “special job grades will be launched for all ministries in the next budget.”

With regard to promotions, Al-Saidi pointed out that “it has been suspended for years, but most ministries allow promotions, including the Ministry of Education, and there is a plan in the rest of the ministries, and the financial allocation for the rest of the ministries will be provided and launched in the coming years.” shafaq.com

butterfly   A slight change in the exchange rates of the dollar in the Iraqi markets

Monday 20 September 2021 | 10:16 am  A slight change in the exchange rates of the dollar in the Iraqi markets The exchange rates of the dollar against the Iraqi dinar on a daily basis, according to the variables of the currency exchange market in the capital, Baghdad, and the provinces of the country .

The selling price of the dollar is 147,750 per 100 dollars

The purchase price of the dollar is 146,750 per 100 dollars

And in the south :

The selling price of the dollar is 148,000 per 100 dollars

The purchase price of the dollar 147,000 per 100 dollars

And in the north:

The selling price of the dollar is 147,750 per 100 dollars

The purchase price of the dollar is 146,750 per 100 dollars  aynaliraqnews.com

butterfly   Parliamentary Finance: The 2022 draft budget is incomplete and will arrive with the election date   Monday 20 September 2021 | 01:01 PM

Parliamentary Finance - The 2022 draft budget is incomplete and will arrive with the election date A member of the Parliamentary Finance Committee, Jamal Cougar, said on Monday that the draft federal budget law for the year 2022 is still incomplete with the Ministry of Finance, stressing that the draft must reach the House of Representatives on the tenth of next October, i.e. the date of the elections .

Cougar said, “The draft federal budget law is bound by specific timelines in the Financial Management Law, and therefore setting the budget strategy and completing the first version was supposed to end in the middle of this month and be sent to the Council of Ministers .”

He added that “the project is not complete so far, and the Ministry of Finance still has it without sending it to the Council of Ministers for the purpose of adopting it as a bill,” noting that “the project must reach Parliament on the tenth of next October, which coincides with the holding of early elections .”

And that “the law will, of course, be carried over to the new parliamentary session, and the first tasks of Parliament will be to legislate the budget law.”   aynaliraqnews.com

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