Zig’s Place Chatroom News Wednesday AM 6-30-21
Zig’s Place Chatroom News Wednesday AM 6-30-21
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butterfly 2021-06-30 07:41 Shafaq News / the Central Bank of Iraq on Tuesday, announced a decrease in the foreign currency exchange.
Shafaq News Agency correspondent said that the foreign currency auction of the Central Bank of Iraq recorded a 10.55 % decrease to 212,727,879 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 and credits (178,117,879 $) and cash money (34612000 dollars).
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 2021-06-30 04:23 Shafaq News/ Gold prices held steady on Wednesday as investors were cautious ahead of U.S. jobs data due later this week, but prices were set to post their worst month since November 2016 on the U.S. Federal Reserve's shift to a hawkish policy stance.
Spot gold was steady at $1,761.80 per ounce, as of 1231 GMT. U.S. gold futures fell 0.1% to $1,761.80.
For the month, prices were down 7.6%. For the quarter, gold had risen 3.2%.
Federal Reserve Governor Christopher Waller on Tuesday said he is "very optimistic" about the economy, and while he declined to say when he thinks the Fed should start raising interest rates, he said it could be next year.
U.S. consumer confidence jumped to its highest level in nearly 1-1/2 years in June as growing labour market optimism amid a reopening economy offset concerns about higher inflation.
The U.S. Labor Department's nonfarm payrolls data on Friday is expected to show a gain of 690,000 jobs this month, compared with 559,000 in May, according to a Reuters poll.
Gold is seen as a hedge against inflation, although a Fed rate hike will increase the opportunity cost of holding bullion and dull its appeal.
Silver rose 0.3% to $25.81 per ounce. Palladium gained 0.4% at $2,686.81 and was headed for a fourth straight quarterly gain. Platinum rose 0.2% to $1,068.96, and was set to post its worst quarter and month since March last year. Source: Reuters
butterfly 2021-06-30 00:27 Shafaq News/ The United States told the U.N. Security Council on Tuesday that it targeted Iran-backed militia in Syria and Iraq with airstrikes to deter the militants and Tehran from conducting or supporting further attacks on U.S. personnel or facilities.
Under Article 51 of the United Nations Charter, the 15-member Security Council must immediately be informed of any action that states take in self-defense against armed attack.
U.S. Ambassador to the United Nations, Linda Thomas-Greenfield, said the airstrikes hit facilities used by militia blamed for an escalating series of drone and rocket attacks against U.S. personnel and facilities in Iraq.
"This military response was taken after non-military options proved inadequate to address the threat, with the aim of deescalating the situation and preventing further attacks," she wrote in a letter, seen by Reuters.
President Joe Biden wrote a similar letter to Congress on Tuesday. "The United States stands ready to take further action, as necessary and appropriate, to address further threats or attacks," he said
U.S. troops came under rocket fire in Syria on Monday in apparent retaliation for weekend U.S. air strikes. About 34 rockets were fired in the attack, but there were no injuries, a U.S. military official said on Tuesday.
While the Iraqi and U.S. militaries coordinate closely in a separate battle in Iraq against remnants of the Sunni extremist group Islamic State, Iraq's government and military condemned the U.S. airstrikes against the Iran-back militia.
The United States began airstrikes against Islamic State in Syria in 2014, telling the United Nations it acted because Syrian President Bashar al-Assad's government had failed to wipe out safe havens used by the militants to launch attacks on Iraq.
Iraq told the U.N. Security Council at the time that it requested U.S. help because a safe haven for the militants in Syria had made its border "impossible to defend." Source: Reuters
Butterfly Al-Kaabi calls on the Integrity Commission to reveal the results of (54) corruption files related to electricity contracts
Wednesday 30 June 2021 16:40........Hassan Karim Al-Kaabi, First Deputy Speaker of the House of Representatives, chaired an expanded meeting with the advanced staff in the Ministry of Electricity, in the presence of a number of members of the Oil and Energy Committee, and the Parliamentary Integrity Committee, to discuss the reasons for the continuing power outage crisis in Baghdad and other provinces.
Al-Kaabi called during the meeting, "the Integrity Commission to expedite the disclosure of the results of (54) files related to corruption in electricity contracts, which were sent by the Parliamentary Committee in charge of investigating and auditing all contracts of the Ministry of Electricity from 2006 to 2020, which had previously revealed its initial report through one of the public sessions of the Council Representatives."
He stressed, "A number of officials and employees in the ministries (electricity, finance, oil) were a primary and direct reason for the continued deterioration in the electrical sector over the past years for many reasons related to financial or administrative corruption, and their failure to even take steps that would mitigate these the crisis ".
Al-Kaabi added, "The House of Representatives has previously hosted the Minister of Electricity and the advanced cadre in the ministry and made the financial allocations they demanded to address the electricity problem throughout the country before the summer season, noting that there is widespread popular discontent and great disappointment as a result of the default that cast a shadow on the the responsibility of the citizens.”
butterfly He stressed, "The House of Representatives will take strict and fair decisions during the next few period against everyone who fails to manage this file for one reason or another, and there will be no guarantees to protect any negligent, starting from the minister to the smallest employee in the ministry."
And the member of the Presidency added by saying: The repeated targeting of electric power towers in Baghdad and a number of provinces may be a planned and organized act, containing suspicions of corruption, and an attempt to evade responsibility for power outages throughout the country and justifying it by being exposed to these sabotage acts, while the Security Committee directed And Parliamentary Defense to follow up on the most accurate details related to the issue of targeting energy, especially in recent days, and to give the results of the investigation as soon as possible to the Presidency of the Council.
” He called on the concerned parliamentary committees to submit an urgent report to today’s meeting in order to include it in one of the next few parliament sessions, and to inform the people of the reasons The crisis, the recommendations, and the measures that the council will take against the defaulters.”
butterfly Iraq replaces state media head An Iraqi court has reinstated the former president of the Iraqi Media Network, annulling the appointment of Nabil Jasem.
butterfly June 30, 2021 The Supreme Administrative Court of Iraq reinstated Fadl Farajallah, former head of the Iraqi Media Network (IMN), on May 31, annulling the appointment of the network’s current president, Nabil Jasem. Iraq's next elections are slated for October 2021 and deep differences plague the various political blocs, which are fighting to control the state media.
Jasem took up his post as the network’s CEO on July 19, 2020. Iraqi Prime Minister Mustafa al-Khadimi asked him to preserve the IMN’s independence and to make it the voice of the Iraqis rather than a mouthpiece for the government.
According to the law, the IMN is an independent body supervised by a board of trustees whose members are chosen by parliament. But since its establishment following the overthrow of Saddam Hussein’s regime in 2003, the IMN has been effectively under the authority of the prime minister’s office while the various political parties vy to control it.
Jasem told Al-Monitor, “The IMN is the official public broadcasting institution. It was affiliated with the Dawa Party headed by Prime Minster Nour al-Maliki, and his party continued to control it even after he left office in 2014. He added, “The Dawa Party is seeking to retake control of the IMN through the administrative court system before the October 2021 parliamentary elections, to use the network’s print and audio-visual media in electoral propaganda.”
Meanwhile, Hisham al-Rikabi, the spokesman for the State of Law Coalition, told Al-Monitor, “The administrative court’s decision cannot be described as politically motivated because it reinstated the IMN’s former president Fadl Farajallah, who was dismissed by the Board of Trustees without any legal ground. He was elected for four years and then was removed 16 months into his term.”
butterfly “The court’s decision was made on clear legal grounds,” he added.
Rikabi went on to say, “Contrary to what is rumored, the court faced pressure because it is no longer a secret that Farajallah’s opponents belong to currently influential parties controlling the state, in addition to their affiliated armed militias. The court did not give in and made its decision objectively.”
Retired judge Tariq Har told Al-Monitor, “The administrative dourt deemed the decision to dismiss Fadl Farajallah illegal. The court’s decision did not provide for replacing Nabil Jasem but only annulled his appointment. Jasem can appeal the decision if he wishes.”
Alaa al-Hattab, a member of the board of trustees, told Al-Monitor, “The IMN is now much less affected by the political conflict, and enjoys a good margin of freedom in reporting compared to previous years.”
Commenting on whether the network could be used for political motives in the upcoming elections, Hattab said, “The IMN’s role in the elections will be to raise awareness on the need to vote and to allow all candidates to present their resumes.”
The power-sharing between the different political parties in Iraq has become so entrenched that ministries and other important state institutions are named after the parties that run them. On July 8, parliament stressed the “need not to interfere with the board’s decisions that are line with IMN law.”
The Iraqi Media Network has been always at the center of conflict between the political parties due to its broad influence on the Iraqi public, and it's a constant struggle to maintain its independence and not follow the governments that change every legislative period.
butterfly https://www.theguardian.com/commentisfree/2021/jun/30/lytton-hottest-places-world-climate-emergency?CMP=Share_iOSApp_ Other How did a small town in Canada become one of the hottest places on Earth?
butterfly Just for you David!
Dave butterfly How did a small town in Canada become one of the hottest places on Earth? .......Gosh summer just started......set records over the last several years with forest fires which blocked much of the sun making it hard to breath. Over 124 people died in Vancouver from heat exhaustion the other day.alone....You ask how? Some folks like DJT suggest climate change is a big hoax.....some Scientists suggest otherwise........More concerned with how this may play out with my children's children..........
butterfly Iraqi Dinar/US Dollar auction results for tomorrow 7-1-2021 executed today 6-30-2021
25k Iraqi Dinar notesThe results of the foreign currency sale window for Thursday, 7/1/2021, and executed today Announcement No. (4442) Sale date – Thursday 7/1/2021 and executed today
the details the amount
Total sale for the purposes of strengthening balances abroad (remittances, credits) 175,344,000
Total cash sale 19,790,000 Total total sales 195,134,000
Note that: The selling price of the amounts transferred to bank accounts abroad is ( 1460 ) dinars per dollar.
The cash sale price is ( 1460 ) dinars per dollar. cbi.iq/currency_auction/view/1057
butterfly Iraq..a defect in the energy system permanently impedes the supply of electricity
2021-06-30 09:07 Iraq..a defect in the energy system permanently impedes the supply of electricityShafaq News / The Government Action Monitoring and Strategic Planning Committee spoke, on Wednesday, about a defect in the energy system that does not help supply electricity to citizens on a permanent basis, while noting that energy production in Iraq ranges between 15-17 thousand megawatts.
Iraq has been suffering from the electricity shortage crisis for decades as a result of successive wars and the instability of the security situation in the country, as well as the rampant corruption.
For many years, residents have protested against frequent power cuts, especially in the summer, when temperatures sometimes reach 50 degrees Celsius.
Committee member Muhammad Al-Baldawi told Shafaq News Agency, “The defect in the electrical system consists of three parts, starting from generation and production of energy to transmission, the last of which is distribution, and all of them need maintenance and renewal of transformers and cables to transmit energy and distribute it to cities and residential neighborhoods.”
Al-Baldawi added, “There are problems between state ministries in terms of equipping stations with fuel, continuing to import gas, and not benefiting from gas associated with oil to generate electric power.”
Regarding the targeting of energy towers, he explained that “these attacks are deliberate and have an impact on the security situation, given that electricity is the most important thing in life and provides the most basic needs of citizens.”
Al-Baldawi called on the security services to activate the security and intelligence effort and to reveal the parties behind the targeting of transmission towers and power stations. shafaq.com
butterfly The Central Bank of Iraq announces the imminent launch of an identity that organizes the opening of bank accounts for citizens from their homes
June 30, 2021 2:05 PM The Central Bank of Iraq announces the imminent launch of an identity that organizes the opening of bank accounts for citizens from their homesMubasher: The Governor of the Central Bank of Iraq, Mustafa Ghaleb, announced Tuesday, the imminent launch of an identity that organizes the opening of an account for citizens from their homes, while referring to the creation of the electronic collection system that the bank has been working on since 2019.
The media department of the House of Representatives said in its statement today, Wednesday, that “the committee to monitor the implementation of the government program held several meetings to evaluate the government’s work and presented, in a previous period, a detailed report to the House of Representatives, in which it touched on the percentages of achievement and areas of failure.”
She pointed out that “the government has not yet presented its government program, which has led to a lack of coordination between the various state institutions.
According to the statement, the committee submitted a number of questions regarding a number of related issues that fall within the work of the Central Bank, most notably the negative effects of the decision to raise the exchange rate, as well as the absence of the reasons and justifications mentioned for this, especially with the increase in bank sales through the currency sale window and the possibility of filling the deficit after the increase in the oil price In addition to the lack of the necessary conditions to preserve the local product, the many exceptions to this, and the clear delay of the Made in Iraq project,
butterfly The stages of completion of the ministerial curriculum and the application of mechanization were also discussed, in addition to the measures taken by the Central Bank and government banks regarding administrative reform.
The committee discussed the foundations adopted by the Central Bank in classifying banks, closing banks in violation of the law, and the consequences of raising the exchange rate on the poor and middle class, stressing the need for coordination between the government and the Central Bank to begin drafting a draft law for the bank. mubasher.info
butterfly A deputy confirms: The government’s steps to benefit from the surplus oil revenues go to strengthen the cash reserve
Wednesday 30 June 2021 | 02:56 PM Iraqi Dinar-Dollar auctionsAfter the outbreak of the Corona pandemic and its impact on the global economy, Iraq was also affected economically, which prompted the government to borrow from the central bank and thus decreased the cash reserve of the central bank, which means that the government has to compensate for the shortfall in the cash reserve, which is what the government actually started with with the high prices oil.
Representative Jamal Cougar says, so far, the government’s steps to benefit from the amounts of the increase in oil revenues are to enhance the bank reserves, as it has fallen to very low levels from 82 billion dollars to less than 55 billion dollars, adding that it is now being strengthened and I think it has reached more than 60 billion dollars.
As for the second reason for excluding presenting a supplementary budget, MP Cougar continues, that this budget needs to be prepared and then sent to the House of Representatives, and the House needs to hold sessions in the Parliamentary Finance Committee with the participation of the rest of the committees, communicate with the ministries, make a first reading and then a second reading and vote on it, we believe the government She will not go for this option while she is now busy preparing a draft budget law for 2022,
stressing that preparing the supplementary budget needs time to prepare, discuss it in the parliament and vote on it, and we are heading to elections, which have become the preoccupation of many deputies nominated for an upcoming election cycle, thus completing the quorum and reading the draft The budget law is a first and second reading and voting on it needs to complete the quorum. I think this is very difficult in the next stage. Finished 3 Source: PUKmedia aynaliraqnews.com
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