Zig’s Place Chatroom News Friday AM 6-25-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

butterfly   Al-Rafidain distributes MasterCard cards to defense personnel in their units

Friday 25 June 2021 09:42........Al-Rafidain Bank announced the distribution of MasterCard cards to employees of the Ministry of Defense in their military units in Dhi Qar and Wasit.

The media office of the bank clarified in a statement: "The distribution of cards to the affiliates is done through the mobile committees that were formed, without the need to review the bank's branches."''

butterfly   For the third day in a row, global oil prices have risen  Friday 25 June 2021 11:16.......Oil prices rose for the third consecutive session, today, Friday.   Brent crude futures rose 6 cents, or 0.1%, to $75.62 a barrel, and are heading towards recording a 2.9% jump in the week.

US West Texas Intermediate crude futures rose five cents, or 0.1%, to $73.35 a barrel, and are on track to achieve a weekly gain of 2.4%.

The two benchmarks reached their highest levels since October, when they settled on Thursday.

Analysts said that oil received some support today, as a bill on infrastructure spending in the United States boosted optimism about the prospects for energy demand.

All eyes are on the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, who are scheduled to meet next Thursday, July 1st; To discuss further easing of their production cuts, starting in August.

Analysts expect that: OPEC + will boost supplies with a small increase of 500,000 barrels per day, in August, to add to the 2.1 million barrels per day, which it agreed to return to the market, in the period from May to July.

Butterfly   2021-06-25 07:45  Shafaq News/ The Parliamentary Finance Committee said the decline in the dollar exchange rate against the dinar does not mean its return to the previous rate.

Committee member Jamal Kocher told Shafaq News Agency, "Last week, the Parliamentary Finance Committee hosted the Governor of the Central Bank, Mustafa Ghaleb, and discussed the steps the bank promised to implement to reduce the repercussions of changing the currency exchange rate and its implications."

"The decline in the exchange rate of the dollar against the dinar and the rise in oil prices does not mean the return of the exchange rate of 100 dollars to 118 thousand dinars."

Kocher continued, "all the meetings and discussions that took place recently are nothing without a decision issued by the government, the Ministry of Finance, and the Central Bank to restore the dollar exchange rate."

butterfly   2021-06-25 04:35  Shafaq News/ The Ministry of Energy and Mineral Resources expected that the Jordanian-Iraqi electrical interconnection project will start operating in 2022, according to Petra news agency.

The Ministry stated in the annual report of its achievement for 2020, that the energy exchange contract with Egypt was renewed, and another agreement was signed to supply Iraq with electric power, noting that the first phase of the problem is being completed, during which 1000 GWh will be exported annually from Jordan to Iraq.

For its part, the Iraqi Ministry of Electricity had announced in 2020 that the American company “General Electric” had started the electrical interconnection works with Jordan, pointing out that the Gulf Interconnection Authority had informed Iraq that work on the electrical interconnection project was imminent.

On Thursday, the Iraqi Prime Minister, Mustafa Al-Kadhimi, set the date for the completion of the electrical Interconnection with the Gulf and Jordan.

Al-Kadhimi said in an interview with the semi-official Al-Iraqiah channel, "We started with the electrical Interconnection with the Gulf countries, and we have completed 85% of the work in Iraq. In 2022 the electrical Interconnection with the Gulf and the electrical Interconnection with Jordan will be completed."

butterfly   2021-06-24 10:56   Shafaq News / The Chair of the Ministerial Council for Energy, Minister of Oil Ihsan Abdul-Jabbar, signed on Thursday a contract for a clean energy project with the Emirati "Masdar" company.

The contract stipulates establishing solar plants in central and southern Iraq with a capacity of 2000 MW.

In a statement issued earlier today, Thursday, Abdul-Jabber said, "Iraq is implementing a plan to replace fossil energy with Solar energy at a rate of 20-25% of the energy produced, equivalent to 10-12 GW."

"Concluding a contract with the Emirati Masdar Company, a major international company, is an important step toward developing the clean energy investment sector and exploiting solar energy in Iraq."

For his part, the UAE Minister of Energy and Infrastructure, Suhail Al-Mazrouei, praised the "distinguished relations between the two brotherly countries."

Al-Mazrouei asserted his government's support for bilateral cooperation projects in the clean energy sector, "Masdar Company will harness all its technical and engineering capabilities to implement these projects."

In turn, the head of the National Investment Commission, Suha Al-Najjar, stressed, according to a statement by the Iraqi Ministry of Oil, "the importance of the contract for clean energy generation with the UAE company Masdar, which achieves the government's goals in obtaining clean energy at a lower cost, as well as adopting clean environment, health, and safety standards."

Al-Najjar revealed "the government's plans to sign more contracts that contribute to the enhancement of generating capacity, and to cover the local need."

According to the statement, the signing ceremony was attended by the Minister of Electricity, Majid Mahdi.

butterfly   2021-06-25 05:25   Shafaq News/ The National Coalition led by Iyad Allawi announced today that it had sent two memoranda to the Independent High Electoral Commission, that included observations and notes, noting that the latter did not respond.

A statement issued by the coalition said, "all current indicators do not predict fair elections that will be the beginning of a new political era that unites the people and eliminates negative manifestations and manipulation of the principles of democracy," noting, "the Commission closes its eyes and ears to all observations and advice that are offered to correct the democratic path in the country."

The statement added, "There is a large number of displaced people away from their election centers", warning of the decision of abolishing voting abroad, which will deprive about seven million Iraqis of voting."

The coalition also reiterated the need to seek the assistance of another company to examine and audit the biometric devices and evaluate them.

The coalition made observations about means related to counting and sorting, laws, regulations and mechanisms, and the necessity of announcing the results in each polling center after closing it at night, in addition to granting the appropriate powers that enable office managers to perform better and allowing them to open, move or split polling stations in a way that helps voters in access to centers and regions.

25 Jun 21, 07:53 AM butterfly  2021-06-25 04:03   Shafaq News/ An official source in the Kurdistan Regional Government said on Friday that Prime Minister Mustafa Al-Kadhimi signed an official letter to disburse 200 billion dinars to the region.

This was also confirmed by the spokesman for the regional government, Gotiar Adel, in a press statement he made today to Kurdistan TV.

The Minister of Planning in the Kurdistan Regional Government, Dara Rashid Mahmud, announced on Wednesday that the federal government will send 200 billion dinars, with a retroactive effect, until the Board of Supreme Audit finishes auditing the region's imports.

butterfly   2021-06-25 07:26  Shafaq News/ The President of Kurdistan Region, Nechirvan Barzani, received today the acting US special envoy for the Global Coalition against ISIS, John Godfrey, and his accompanying delegation.

A statement issued by the Presidency of the Region said that the two sides discussed during the meeting the latest developments in the fight against terrorism, intensifying efforts and cooperation between the Iraqi army and the Peshmerga forces supported by the Global Coalition to eliminate ISIS, especially in areas that witness security gaps.

The statement added that the two sides agreed that the continuation of ISIS attacks poses a real threat to the security of Iraq, Syria, the region, and the African countries

The statement emphasized the importance of assisting the displaced people to return to their homes, enhancing joint efforts to protect security and stability in the region, the current and future situation of Syria and the Kurdish issue in that country, and next week's conference of ministers of the Global Coalition against ISIS, scheduled to be held in Rome.

butterfly   For 6 months, the EU summit extends economic sanctions against Russia

Friday 25 June 2021 15:27......The leaders of the European Union countries and governments, during their summit held in Brussels, took a political decision on extending the economic sanctions imposed on Russia for half a year.

The Russian TASS news agency quoted a source from a delegation from a European country in the European Council as saying: "During the discussion of the Russian issue, the issue of implementing the Minsk agreements (on settling the conflict in eastern Ukraine) was discussed, and no one opposed the extension of sanctions against Russia for an additional 6 months."

In 2014, the European Union imposed sanctions against Russia over the events in Ukraine and the accession of Crimea to Russia. In response, Russia imposed similar measures and an embargo on food imports from European Union countries.

butterfly   He made decisions about extending and extending sanctions each year. Talks with Russia about the visa abolition system, the imposition of a ban on entry to the territory of the Union countries on a number of Russian officials, and the freezing of their accounts in European banks, in addition to commercial, financial and military sanctions, were also suspended.

Butterfly   Iraq "Cancels" Oil DIraq has reportedly cancelled its $2-billion pre-paid oil supply agreement with Zhenhua Oil Company.

Under a deal said to have been agreed in January, the state-owned Chinese company would pay Iraq in advance for a year's supply of oil.

S&P Global Platts reported the following month that Iraq had "frozen" the deal, following an increase in oil prices.

The price of oil has continued to rise, with Iraq confirming an average price of $65.842 per barrel exported in May, considerably higher than the $53.294 per barrel it received in January.

More here. https://www.spglobal.com/platts/en/market-insights/latest-news/oil/062321-iraq-fully-cancels-pre-paid-oil-deal-with-chinas-zhenhua-sells-crude-to-other-customers   (Source: S&P Global Platts)

butterfly   Politically Sanctioned Corruption and Barriers to Reform in Iraq 25th June 2021 in Iraq Industry & Trade News, Politics, Security Politically sanctioned corruption and barriers to reform in Iraq

This paper explores the pernicious effects of politically sanctioned corruption on governance in Iraq.

This type of corruption is more consequential for the coherence of the state, and for its everyday functioning, than petty or personal corruption. It is the key barrier to reform.

The post-2003 ethno-sectarian power-sharing arrangement - designed to ensure communal stability - instead sustained an elite pact in which political parties captured and compromised formal institutions of state.

Click here to read the full paper. https://www.chathamhouse.org/2021/06/politically-sanctioned-corruption-and-barriers-reform-iraq

butterfly   When will Iraq's envisioned Industrial Cities fire up? 25th June 2021 in Construction & Engineering In Iraq, Iraq Industry & Trade News, Politics When will Iraq's envisioned industrial cities fire up?

The previous Iraqi government headed by Adil Abdul Mahdi (Oct. 2018-May 2020) concluded a number of ambitious agreements to establish joint industrial cities with neighboring Jordan, Iran, and Saudi Arabia.

The Council of Representatives in 2019 also passed a law to facilitate the construction and operation of such endeavors.

However, it seems that work on these cities has not seen significant progress since.

butterfly   25 Jun 21, Iraq Automates Customs Service to Reduce Corruption 25th June 2021 Iraq automates its customs service to reduce corruption at border crossings

The Iraqi government has taken several new initiatives to fight corruption, from automating border crossings, arresting corrupt figures and imposing restrictions on the economic interests of militias and political parties.

Click here to read the full story. https://www.al-monitor.com/originals/2021/06/iraq-automates-its-customs-service-reduce-corruption-border-crossings

Sheila  Everyone has Right to Freedom of Speech. Yet being here in this Chat is a granted privilege.

butterfly   An important clarification from Al-Kazemi’s advisor regarding the value of the “dinar”

FRI, 06-25-2021,PM 4:04   10K Iraqi Dinar notesToday, Friday, the Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, determined the rate of rise in the inflation rate in the country.

Saleh said, in statements to the official agency, that “the improvement in the value of the Iraqi dinar is related to the ability of the economy to grow if significant growth is achieved in the economy and not rentier growth,” noting that “expectations indicate a current growth of 2.5%, and this growth parallels the growth of the real population.” .

He added that “this needs proper development, reducing unemployment, increasing job opportunities, and flourishing investment projects, which encourage and generate income that compensates for oil, and gives sustainability in returns, and sustainability with the strength of the economy,” noting that “there are two important things, the first is monetary policy that maintains On the stability of the exchange rate, and create a stable environment for a long period, and the second is to support investment projects for development and achieve growth, because without growth the situation will be bad.”

Regarding the rate of inflation, Saleh explained that “there are two types of goods, tradable goods, most of which are imported and linked to the exchange rate, and non-tradable goods, which are local such as services and others,” stressing that: “If we collect tradable and non-tradable goods, we will find Inflation did not increase more than 6%, and therefore it is considered reasonable and controlled in comparison with the significant devaluation of the dinar.   non14.net

butterfly   Parliamentary Finance: The current low exchange rate does not mean the return of the dollar to the old rate

FRI, 06-25-2021,PM 4:50   US Dollar-Iraqi DinarToday, Friday, the Parliamentary Finance Committee considered that the low exchange rate of the dollar against the dinar does not mean its return to the previous rate.

Committee member Jamal Kougar said in a press statement, “The Parliamentary Finance Committee hosted last week the Governor of the Central Bank, Mustafa Ghaleb, and they discussed the steps that the bank promised to implement to reduce the repercussions of changing the currency exchange rate and its implications.”

He added, “The decline in the exchange rate of the dollar against the dinar and the rise in oil prices does not mean the return of the exchange rate of 100 dollars to 118 thousand dinars.”

Cougar continued, “All the meetings and discussions that took place recently will not work without a decision issued by the government, the Ministry of Finance and the Central Bank to restore the dollar exchange rate to the previous one.”  non14.net

Dave   sheila Freedom of Speech.......Good Right.......should be right and not wrong or false....with.Most folks bound by a moral and ethical fabric. God reminds us of this with the 9th Commandment, and yet the Laws of our land still require terms such as slander, perjury and maleficence.......Would that be right or wrong?

Sheila   Dave All I know is my rights end where yours begin. And their rights end where mine begin. Power of Spoken and Written Words. We are each have sole responsibility for those Words. Cause and Effect.

Sheila   Dave Intent is generally the legal and lawful question which must be answered in order to lay charges or not.

Dave   9th Commandant and the Golden Rule actually work fer me

sheila   Dave ditto. amen.

25 Jun 21, 12:07 PM butterfly   The Secretariat of the Council of Ministers sends an official letter to the Ministry of Finance to spend 200 billion dinars for the Kurdistan region

Friday 25 June 2021 17:54,,,,,,,,,The General Secretariat of the Federal Council of Ministers sent today, Friday, a letter of exchange of 200 billion dinars to the Kurdistan Region to the Federal Ministry of Finance.

The General Secretariat sent the book to the Ministry of Finance under the guidance of Prime Minister Mustafa Al-Kazemi.

According to the writer, from 1/1/2021 until 1/6/2021, the federal government will send monthly 200 billion dinars to the Kurdistan Region as an advance earmarked for paying the salaries of employees working in the public sector in the Kurdistan Region.

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