Zig’s Place Chatroom News Wednesday AM 7-7-21
Zig’s Place Chatroom News Wednesday AM 7-7-21
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butterfly The Central Bank of Iraq decides to work on encouraging the adoption of energy production tools from renewable sources
Wednesday 07, July 2021 10:56...........The Central Bank of Iraq decided to work on encouraging the adoption of energy production tools from renewable sources.
A statement by the bank stated, "In line with international commitments towards reducing greenhouse gas emissions, the Paris Climate Agreement and reducing fuel uses, the Central Bank of Iraq decided to work to encourage the adoption of energy production tools from renewable sources, and to work with the Higher Committee for Lending to ensure the processing of a proportion of the electric energy generated from energy sources. Renewable energy (solar panels) in residential investment complexes benefiting from the initiative.
The Central Bank encourages all authorized banks and institutions wishing to equip clean energy systems to interact with this trend and present their offers and experiences to this bank and the rest of the state institutions and the private sector./End of 9
He continued: in addition to coordination with the Bank and the industrial to finance the purchase of electricity generating systems from the sun for the housing of citizens or enterprises, in order to provide part of the electricity required by the Central Bank 's work has decided to acquire power generation systems Electricity and installed on his buildings in Baghdad and its branches.
butterfly Al-Rafidain: The distribution of the MasterCard to the defense employees in Muthanna and Diwaniyah has been completed
Wednesday 07, July 2021 11:11 ............Al-Rafidain Bank announced the completion of the distribution of MasterCard cards to employees of the Ministry of Defense in Muthanna and Diwaniyah.
The bank's media office said in a statement that "the roving committees that were formed have finished distributing cards to the defense departments and directorates in those two governorates after their issuance and completion within a specified period.
He explained that the committees are continuing their work and field tours in issuing cards to all military departments and units without any review." for the bank.”
butterfly A government meeting discusses the development of the oil, health and commercial sector with the Budget Strategy Committee
Wednesday 07, July 2021 15:54 ...........Today, Wednesday, the meeting of the thirteenth session was held for the committee to prepare the federal general budget strategy for the medium term 2022-2024, in the presence of the Minister of Finance Ali Allawi, the Prime Minister's advisors, the undersecretaries of the ministries of finance and health, their general managers and the relevant ministries.
The meeting discussed the completion of the discussion of the future strategic vision for the oil sector presented by the Ministry of Oil, which includes ways to develop the sector and enhance its capabilities to increase the levels of production capacities in order to raise the volume of oil revenues to supplement future budget projects in order to achieve the objectives of the economic development process.
The meeting also discussed the completion of the Ministry of Health report on the ministry’s vision and strategy aimed at developing the efficiency of the health sector and overcoming the challenges that stand against the advancement of the health sector in line with the increasing need for health care and improving the quality of health services provided to citizens, in addition to strengthening efforts to confront the challenges of the Corona virus.
In the same context, the meeting included the completion of the discussion of the report of the Ministry of Commerce on its future vision aimed at developing and enhancing the volume of foreign trade due to its pivotal important role in advancing the wheel of local economic activity by increasing the volume of exports and creating promising development opportunities for various productive sectors.
butterfly Taking the legal oath for members of the Federal Court of Cassation
Wednesday 07, July 2021 15:41.............The members of the Federal Court of Cassation took the legal oath, today, Wednesday, before the President of the Supreme Judicial Council, Judge Faiq Zaidan, in implementation of the Republican decree, in the presence of the President of the Federal Court, the deputies of the President of the Court of Cassation, the head of the Public Prosecution and the head of the Judicial Supervision Authority.
butterfly 2021-07-07 07:34 Shafaq News/ Prime Minister Mustafa Al-Kadhimi instructed the Iraqi Housing Fund management to facilitate granting loans to citizens.
Al-Kadhimi's office said in a statement that the latter visited the Fund and toured its departments today, reviewed the work progress, and met with citizens who came to review their paperwork.
Al-Kadhimi instructed, according to the statement, to facilitate procedures for granting loans to citizens, and provide them with the assistance they need.
The Prime Minister stressed that the government has adopted a national project to solve the housing crisis in the country through strategic plans, some of which include providing housing for all citizens, whether through the distribution of plots of land, or initiatives to grant interest-free loans.
butterfly 2021-07-07 02:46 Shafaq News/ Oil prices steadied on Wednesday after a steep drop in the previous session, following the cancellation of talks among OPEC+ producers that raised the prospect that the world's major crude exporters will turn on the taps to gain market share.
Brent crude was up 3 cents at $74.56 a barrel by 0515 GMT, after slumping more than 3% on Tuesday. U.S. oil was up 7 cents at $73.44 a barrel, having declined by more than 2% in the previous session.
Energy ministers from OPEC+, a grouping that includes the Organization of the Petroleum Exporting Countries (OPEC) along with Russia and other oil producing countries, ended talks on supply policy on Monday.
Divisions between Saudi Arabia, the biggest OPEC producer, and the United Arab Emirates (UAE), which opposed extending supply constraints designed to support prices after the fall in demand from the pandemic, were the main reason behind the failure of the discussions.
"There is a possibility of an OPEC+ rebellion that could bring unregulated output back to the market," Rystad Energy oil markets analyst Louise Dickson said in a note.
Nonetheless, "the market is getting too tight for consumers, especially in the U.S., where oil is becoming uncomfortably expensive for consumers and industry," Dickson added.
OPEC voted on Friday to raise production by about 2 million barrels per day from August to December and to extend the remaining output reductions to the end of next year, but UAE resistance scuppered an agreement.
The breakdown of talks initially sent oil prices higher with U.S. oil hitting the highest since 2014.
Goldman Sachs said the failure of the discussions has clouded OPEC's production policy, although the bank reiterated its expectation that Brent would rise $80 per barrel early next year. Source: Reuters
butterfly Heatwave: Iraq and Iran suffer conjoined Electricity Crisis..........
7th July 2021 in Iraq Industry & Trade News, Iraq Oil & Gas News, Politics..............Writing in The National, Robert Tollast quotes analysts as saying that the disastrous collapse in Iraqi and Iranian electricity supplies was partly caused by the dysfunctional partnership between the countries' energy sectors.
Click here to read the full story. https://www.thenationalnews.com/mena/iraq/2021/07/05/iraq-and-iran-suffer-conjoined-electricity-crisis-amid-summer-heat/
butterfly Ex-Dentons Partner to represent KRG for Arent Fox.......
7th July 2021 in Iraq Industry & Trade News, Iraqi Communications News, Politics.............Washington DC-based law firm Arent Fox LLP has entered an agreement with the Kurdistan Regional Government (KRG) to provide legal advice on various issues including legal and regulatory matters in the United States.
It will also advise on strengthening the KRG's alliance with the United States, tracking and monitoring legislation in Congress, advising on US policy and informing on matters that impact the KRG's interests in the Middle East.
The agreement, which commenced in April of this year, is based on a flat fee of $20,000 per month for all services.
At the end of April, the firm announced the addition of public international law Partner David Tafuri, Senior Advisor Richard Griffiths, and Associate Jasmine Zaki.
Tafuri, the founder and President of the US-Kurdistan Business Council (USKBC), previously represented the KRG in the US on behalf of Dentons. The KRG's agreement with Dentons ended on 31st March 2021. He has also been involved with the KRG on behalf of Patton Boggs, and has worked in Iraq for the US State Department.
Both Griffiths and Zaki are also Dentons and Patton Boggs alumni. (Sources: FARA, LinkedIn)
butterfly China to Snap Up Iraqi Oil Assets?........7th July 2021 in Iraq Oil & Gas News, Politics........Both BP and Lukoil are reported to be considering quitting upstream oil operations in Iraq.
Reuters quotes Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail, as making the comments during a parliamentary session last week.
Last month, BP was said to be planning to spin off its Iraqi operations in Iraq into a separate company, which would be jointly owned with its partner in the giant Rumaila project, the China National Petroleum Corporation (CNPC).
Meanwhile, the Minister said Russia's Lukoil is thought to be trying sell its 75-percent stake in the West Qurna-2 oilfield to Chinese firms.
More here and here. https://oilprice.com/Latest-Energy-News/World-News/Iraq-Confirms-BPs-Plans-To-Leave-The-Country.html
https://www.reuters.com/business/energy/iraqi-minister-says-bp-mulls-quitting-iraq-lukoil-wants-sell-up-2021-07-03/ (Sources: Reuters, Oil Price
butterfly Iraq plans new city next to capital
In order to find solutions to the chaos in Baghdad due to overpopulation, the Iraqi government plans to launch a new city next to the capital...................July 7, 2021
BAGHDAD — The Iraqi Council of Ministers headed by Prime Minister Mustafa al-Kadhimi announced last week the start of work to build a new administrative city on the outskirts of the Iraqi capital, Baghdad, which is to stretch over an area of 165 square miles. Planners hope that the city, which is to bear the name Al-Rafeel, will grease the wheels of the capital’s economy and help resolve the area's housing crisis.
Baghdad, whose population is estimated at more than 7.3 million, is overcrowded. It has grown by more than 2 million since the turn of the century in part because it is home to various government departments and agencies that offer plenty of job opportunities compared with the rest of the central and southern provinces.
Baghdad has been quite difficult to reconfigure due to overpopulation and old structures. This is a major reason why the government decided to establish a new city that would become the administrative capital of Iraq.
The National Investment Commission said, “Prime Minister Mustafa al-Kadhimi agreed to allocate the area surrounding the Baghdad International Airport to establish the country’s administrative capital.”
The commission said in a statement that the project would be executed in four stages: the first would involve residential, educational, commercial, medical, service, and recreational complexes and would extend over 25 square miles, contributing to the provision of 75,000 housing units.
The second stage would include the launch of industrial, logistics and services projects adjacent to the airport, while the third stage would witness the launch of environmentally friendly agricultural and food projects. The fourth stage would take place in Abu Ghraib district.
butterfly Ahmed Yassin al-Hashemi, the associate director of Baghdad's Planning Department, told Al-Monitor that the Al-Rafeel project was part of the new development plan for the capital. The project includes a comprehensive, multiyear study of the capital conducted by the urban planning companies Khatib and Alami and the department.
Hashemi said the plan also includes finding solutions to slums and major violations to the building code. "There are recommendations that have been made, including organizing and determining how to deal with violators based on a specific timetable. But this issue is still under examination given its complexity, knowing that many projects have been halted due to violations.”
The Al-Rafeel city project has sparked political controversy. The Sunni Azm coalition led by Khamis al-Khanjar condemned what it called “the destruction of hundreds of miles of agricultural land within the area surrounding the Baghdad Airport.”
Khanjar said in a statement that the city’s project “includes dimensions that seek to bring about demographic change in the west of the capital,” as the areas in the west of Baghdad are predominantly Sunni and extend toward the Sunni province of Anbar as well. Sunni parties are voicing concerns that the Al-Rafeel project will have a Shiite majority. About two-thirds of the country's population is Shiite.
Former parliament Speaker Mahmoud al-Mashhadani, a Sunni, told Al-Fallujah TV channel, “The Al-Rafeel project raises Sunni sectarian fears, and the prime minister should stay away from issues that cause political and social differences.”
However, the president of the National Investment Authority, Suha al-Najjar, said, “The statements of the Sunni leaders regarding the Al-Rafeel city project are inaccurate and aim to stir sectarian sentiments for electoral propaganda purposes."
butterfly She said, “The city of Al-Rafeel will never be executed in the agricultural lands surrounding the Baghdad Airport, as it is intended for all Iraqis and will contain industrial, agricultural and investment projects.”
She threatened to resort to the judiciary to hold accountable those making accusations about the Al-Rafeel project.
The Iraqi government is to put out to tender during the next month a set of investment opportunities in the Al-Rafeel project in order to receive bids from local, Arab and international companies to build hundreds of housing units, which would be allocated to employed workers as an initial step to rid Baghdad of slums and put an end to the encroachment upon agricultural lands and green spaces within the capital’s neighborhoods. Slums massively spread after 2003, thus causing enormous pressure on old and dilapidated infrastructures.
The bottom line is that steps are being taken to turn a long-held dream for the administrative capital project into reality.
It remains unknown whether the next government will continue to work on the project or will cave into political pressure. It all may depend on the results of the early general elections scheduled for October.
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butterfly Iraqi Dinar/US Dollar auction results 7-7-2021 United States DollarThe results of the foreign currency sale window for Wednesday 7/7/2021 and executed today
Announcement No. (4445) Sale date – Wednesday 7/7/2021 and executed today the details the amount
Total sale for the purposes of strengthening balances abroad (remittances, credits) 174,002,988
Total cash sale 31,580,000 Total total sales 205,582,988
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/1061
butterfly Electricity: a new attack that cuts the national system!
07.07.2021 – 13:37 Electricity - a new attack that cuts the national systemBaghdad – people
On Wednesday, the Ministry of Electricity announced that the electric power transmission lines in the northern region had been subjected to sabotage acts, which led to the lines being suspended from work in Kirkuk governorate.
The ministry stated in a statement, of which “Nass” received a copy, (July 7, 2021), “It appears that the transmission towers of electric power in the northern region took their sequence in the lists of sabotage terrorism, day after day the sabotage penetrated to tamper with the properties of the Ministry of Electricity, with the aim of dismembering the national system between governorates, stopping the ministry’s projects, and draining its infrastructure, whose perpetrators deliberately harm citizens in general.”
The statement added that “the electric power transmission line (Martyr Abdullah Al-Qadima – Al-Dour, north of Samarra), the 132kV battle of the Ajil oil field, was targeted today, Wednesday, July 7, 2021, by detonating an explosive device on Tower No. 12, which was targeted two days ago and was repaired. This led to the line being out of service in the Ajil area in Salahuddin Governorate.”
The statement indicated that “the high pressure electric power transmission line (Kirkuk – Qayyarah) with a voltage of 400 kV was targeted and on the same date mentioned by detonating two explosive devices (155) and a third device that was dismantled on the same tower, which was repaired about a week ago, which led to damage to the legs of the tower,
to The explosion of a third bomb on the tower numbered (156), which caused it to be damaged and out of work in the Al-Mujama`at area near the village of Al-Murra, the Martyr Complex, in Riyadh district in Kirkuk governorate.
butterfly The statement continued, “The transmission line (Martyr Abdullah Al-Qadima – Al-Dur North) Samarra 132kV was subjected to a sabotage terrorist bombing on Monday 5/7/2021 also on the same towers that were targeted during the past week, numbered (166-167-168), which was repaired on 6/23/2021″.
He pointed out that “the targeting of the (Kirkuk-Qayyarah Ghazieh) line with an effort of 400 kV is the second in four days, as it was repaired and put into work yesterday and remained in service for a period not exceeding (24) hours after five towers were targeted a few days ago in the Tulul Al-Baj area in Shirqat, and today it is also out of service due to sabotage.”
The statement explained, “These repeated targeting of power transmission towers took a lot of time, effort and money, which is supposed to be devoted to adding new projects to support the electric power system,” noting that “the electrical system has largely recovered from the anger of the saboteurs whose goal is to harm the citizens.” and deprive them of electricity. nasnews.com
butterfly The Central Bank announces lending and financing renewable energy projects in Iraq
2021-07-07 00:24 The Central Bank announces lending and financing renewable energy projects in IraqShafaq News/ The Central Bank of Iraq announced on Wednesday the financing and lending of renewable energy projects in residential complexes in the country.
In a statement received by Shafaq News Agency, the Central Bank said that, in line with international obligations towards reducing greenhouse gas emissions, the Paris Climate Agreement and reducing fuel uses, the Central Bank of Iraq decided to work to encourage the adoption of energy production tools from renewable sources, and to work with the Higher Committee for Lending to ensure the processing of a percentage of of electric energy generated from renewable energy sources (solar panels) in the residential investment complexes benefiting from the initiative.
He referred to coordination with the Industrial Bank to finance the purchase of electricity generation systems from the sun for citizens’ homes or projects, and in order to provide part of the electrical energy required by the work of the Central Bank, he decided to acquire electrical power generation systems and install them on his buildings in Baghdad and its branches.
The Central Bank stressed the encouragement of all licensed banks and institutions wishing to equip clean energy systems to interact with this trend and present their offers and expertise to this bank and the rest of the state institutions and the private sector. shafaq.com
butterfly United Nations: Last night’s attack in Erbil is pushing Iraq towards the unknown
2021-07-07 01:04 United Nations - Last nights attack in Erbil is pushing Iraq towards the unknownShafaq News/ The Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Hennis-Plasschaert, considered on Wednesday the attack that targeted Erbil International Airport yesterday evening, pushing Iraq “toward the unknown.”
Plasschaert said in a tweet today on the social networking sites “Twitter”, that these continuous attacks, and last night in Erbil again, is an abuse of the rule of law.
He added that such actions push the country towards the unknown, and the Iraqi people may pay a heavy price.
Plasschaert stressed that the legitimacy of the state should not be threatened by brutal armed elements.
On Tuesday, the Kurdistan Region Counter-Terrorism Service announced that Erbil International Airport was bombed by a booby-trapped drone.
The agency said in a statement, that the attack took place at 11:30 pm – local time – and did not leave any human casualties or material damage.
But the device indicated that a fire had occurred in the grass as a result of the bombing, and the firefighting teams were working to put it out. shafaq.com
butterfly Parliamentary Finance reveals: No dinars were returned to the Iraqi treasury through the “Anti-Corruption” campaign
Wednesday 7 July 2021 | 02:29 PM Parliamentary Finance reveals - No dinars were returned to the Iraqi treasury through the Anti-Corruption campaignMember of the Parliamentary Finance Committee, Representative Abdul Hadi Al-Saadawi, confirmed, on Wednesday, that no dinar will be returned to the Iraqi treasury through the anti-corruption campaign .
Al-Saadawi said, “We support any real anti-corruption campaign that ultimately yields positive results, including the recovery of the looted money to the country’s treasury, but what is happening now is that the campaign is a war on paper and came to media marketing .”
Al-Saadawi added, “Any dinar has not been recovered and returned to the treasury of Iraq, although the looted money is very large,” noting that “the country’s economy cannot rise without a real fight against corruption, which represents a major obstacle to any steps to build a strong national economy that invests its capabilities in the presence of natural resources.” It is a huge thing that can change the situation of the country significantly .” aynaliraqnews.com
butterfly A list of dollar exchange rates across Iraq for Wednesday morning transactions
Wednesday 7 July 2021 | 10:26 am A list of dollar exchange rates across Iraq for Wednesday morning transactionsA list of the dollar exchange rates against the Iraqi dinar, during Wednesday morning transactions (July 7, 2021 ).
Baghdad – 146,950 Iraqi dinars Erbil – 147,150 Iraqi dinars Sulaymaniyah – 147,150 Iraqi dinars Basra – 147,150 Iraqi dinars Mosul – 147,200 Iraqi dinars Najaf – 147,100 Iraqi dinars aynaliraqnews.com
butterfly An international classification indicates the slow economic diversification in Iraq and the biggest challenge it faces
Wednesday 7 July 2021 | 09:42 AM An international classification indicates the slow economic diversification in Iraq and the biggest challenge it facesMoody’s Financial Rating Agency affirmed Iraq’s credit rating at Caa1 with a stable outlook .
Moody’s stated that the confirmation of the rating reflects the credit challenges posed by Iraq’s exceptionally large economic and financial dependence on oil . Moody’s stated that the stable future outlook for Iraq balances a number of potential positive and negative drivers .
She added that progress in economic diversification is still slow and hampered by the weak business environment and investment climate in Iraq .
It considered corruption to be the biggest institutional challenge facing Iraq .
Moody’s said that Iraq’s political landscape and growing political stability risks threaten to further slow progress on institutional and economic reforms. aynaliraqnews.com
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