"Tidbits From TNT" Tuesday Morning 8-9-2022

TNT:

Tishwash:  The New Generation: Kurdistan's Demonstrations Will Come Back Stronger

A member of the New Generation Movement, Diary Anwar, confirmed, on Tuesday, that the popular demonstrations in the Kurdistan region of Iraq will return with a stronger force.

Anwar said in an interview with the "Information" agency that "from the great repression with which the authority in Kurdistan and its ruling parties faced the demonstrations, the demonstrations will only increase us strength and determination to change."

He added, "The conditions of Kurdistan are bad in terms of services and corruption dominates the joints of governance, and soon the demonstrations will return more and more, and we brought our voices to international organizations and the United Nations and wrote reports on the great state of repression."

A few days ago, hundreds of citizens demonstrated in Sulaymaniyah, while the security services carried out a large campaign of arrests, including deputies and activists.  link

Tishwash:   PARLIAMENT PROTESTERS: THE PEOPLE ARE STRONGER THAN TYRANTS

August 8: Protesters near the Iraqi parliament announced their adherence to the demand to dissolve parliament and hold early elections to end the quota system and consensus in the country. , calling on political parties to stay away from personal interests and to hear the voice of the people, which is louder than any other voice   link

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CandyKisses:  The Sadrists’ sit-in in Al-Khadra..a warm-up for a greater escalation until the implementation of what Al-Sadr wants

 A political analyst close to the Sadrist movement, Manaf al-Moussawi, said today, Monday, that the sit-in of the Sadrist movement's supporters in front of the House of Representatives will continue for a long time until the demands announced by the movement's leader Muqtada al-Sadr are achieved.

 Al-Moussawi told (Baghdad Today), "The leader of the Sadrist movement, Muqtada al-Sadr, has a largely obedient audience, and that is why this audience's sit-in in front of the parliament building will be prolonged and there will be no retreat from this sit-in until after the demands announced by al-Sadr are achieved."

And he indicated that "the failure to achieve the demands of the leader of the Sadrist movement, Muqtada al-Sadr, for a long time will not affect the issue of ending the sit-in or demonstrating, but on the contrary, the Sadrist movement may escalate the intensity of the protests to pressure the political forces to implement what al-Sadr wants."

Supporters of the Sadrist movement are holding a sit-in in the Green Zone, in protest against the nomination of the Coordinating Framework for Muhammad Shi'a for prime minister. 

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Tishwash:  Kurdish Party: Dissolving Parliament is subject to failure without achieving this matter

The leader of the Kurdistan Islamic Group, former MP Salim Hamza, considered, on Tuesday, the dissolution of parliament and the holding of early elections without a comprehensive national review of the future of the political process subject to failure, calling for a comprehensive national dialogue for all political forces, including independents, to point out the sources of previous mistakes of the political process.

Hamza said that "the call for dissolving the parliament and holding new elections will produce the same data that the political process is going through." 

He added that "there is no point in dissolving parliament and holding early elections without a comprehensive national review of the future of the political process subject to failure," calling for "a comprehensive national dialogue for all political forces, including independents, to point out the sources of previous mistakes of the political process.    link

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Mot:  .. I'n Soooo Proud of Me Self I Am! ~~

Iraqi News Monday Evening 8-8-22

Iraqi News Monday Evening 8-8-22

Tlm724 Administrator Bondlady’s Corner

Coordination Framework: Loss Of Many Important Corruption Files After Protesters Entered Parliament

Political | 04:51 - 08/08/2022   Special - Mawazine News  , the deputy of the coordination framework, Ali Al-Jamali, confirmed that there are many files of suspicions of corruption that were lost and received after the demonstrators entered the parliament building.

Al-Jamali, who is also a member of the Parliamentary Integrity Committee, said in an interview with "Mawazine News", "The Parliamentary Integrity Committee has deliberated on many corruption files, which were collected for months for the purpose of investigation, and they were lost and lost after entering Parliament."

He pointed out, "There is a kind of violation in the scattering of these files and cases, and the committee may need other months to re-collect them again and install its documents." Ended 29 / h

https://www.mawazin.net/Details.aspx?jimare=201851

Integrity Clarifies Its Procedures In The Case Of The Contract Between Rafidain Bank And An Electronic Payment Company

Economy | 02:06 - 08/08/2022  Baghdad - Mawazine News   The Integrity Commission clarified the existence of an investigative case filed on the third of last June before the judge specialized in integrity issues regarding the contract concluded for the issuance of electronic payment cards between Al-Rafidain Bank and the "Ishtar Gateway" company for electronic payment.

And the Commission's Investigation Department confirmed, in its discussion of the case that it investigated, according to a statement received by "Mawazine News", "to link the case received by a member of the House of Representatives - the Parliamentary Integrity Committee, with one of the cases that it had previously investigated, for their participation in the matter." Violations of the contract concluded between the bank and the company.

The department added, "It requested to take a statement from the legal representative of Rafidain Bank and the recommendations of the administrative investigation composed in the Ministry of Finance and the minutes of the technical committee emanating from the recommendations of the administrative investigation," pointing out that "the authority addressed the Rafidain Bank to provide it with the administrative investigation and the presence of their legal representative, but the answer was not received."

She added, "The report of the Federal Financial Supervision Bureau, in turn, indicated that there was a violation represented in granting the Central Bank a license to the company, which led to the passage of the contract, despite the issuance of the Central Bank's decisions to stop promoting the requests of electronic payment companies."

The statement continued, "while the authority completed its investigation and audit procedures that led to the referral of the case to the Rusafa Investigation Court, which is specialized in looking into integrity issues, pending the issuance of the appropriate judicial decision."

The department warned that "the authority urges all state ministries and institutions to provide it with the minutes of the administrative investigation upon request, along with the testimonies of legal representatives," noting that "most of the cases in which the decision is delayed is due to the delay in providing it with this after the abolition of the system of general inspectors." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=201834

The Industry Announces The Provision Of Facilities To Support The Private Sector And The Opening Of New Economic Cities

Economy | 03:57 - 07/08/2022  Baghdad - Mawazine News  The Ministry of Industry confirmed today, Sunday, that it has taken several measures to support the private sector, while indicating the imminent opening of a number of industrial cities.

Director General of the Technical Department in the Ministry, Nasser Idris Madani, said, "The ministry is working to encourage and support the private sector, and is keen to find ways of cooperation and partnership with this important segment, especially in the absence of financial allocations from the state."

He added, "The private sector is one of the pillars of the general national economy, as the ministry, through its formations, contributed to supporting the sector, through the presence of its representation in the opinion board in the ministry, represented by the membership of the head of the Iraqi Federation of Industries in it, which is one of the most important tributaries of the national industry."

He pointed out, "The General Directorate of Industrial Development is working to provide specialized services in order to grant the willing industrialists licenses to establish various industrial projects and to follow up on the provision of services needed by these projects in terms of allocating plots of land, issuing tax exemptions, facilitating the import of raw materials and equipment, and granting an estimate of the need for raw materials." and fuels for small and medium enterprises, as well as support for the owners of private cement, asphalt and brick factories in the supply of fuel at subsidized prices.

He explained, "The ministry has contributed to the possibility of entering private sector products that contain added value in the annual product guide issued by the Ministry of Planning, in addition to the ministry's role in protecting many private sector products and obtaining fundamental approvals to prevent the import of similar products."

He pointed out that "the ministry has a role in activating the law of industrial cities and economic zones and preparing soon for the opening of a number of these cities that lead to the employment of thousands of citizens of industrialists, as well as the ministry's assumption of new investment opportunities for the public sector to private sector companies (local and foreign) and promotion He urged the private sector to enter into long-term strategic partnerships by concluding production-sharing contracts and rehabilitating the laboratories of government companies, in addition to the main role of the private sector in supply and service contracts concluded by ministry companies.

Madani continued, "The Ministry of Industry is supporting the Ministry of Agriculture and Peasants by providing raw materials for many food products, in addition to operating factories for agricultural supplies such as agricultural tractors, covers, plastic, fertilizers, pesticides, sprinkler irrigation systems and other requirements that support the agricultural sector and then provide support to the sector.

" The private industrial sector, in addition to the Department of Industrial Development and Organization completing the transactions of the private sector in obtaining product protection,” noting that “the Trade Marks Department in the Ministry is facilitating the task of granting trademarks to the private sector.” Ended 29 / h https://www.mawazin.net/Details.aspx?jimare=201753

The Rise In The Exchange Rates Of The Dollar In The Iraqi Market

Economy | 10:33 - 08/08/2022   Baghdad - Mawazine News, the dollar exchange rates rose, today, Monday, in the local Iraqi market.   And the selling prices of the dollar were recorded at 148,600 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 148,500 dinars per 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=201812

The Minister Of Finance Discusses With Zidane "Correcting Legal Errors" In Private Sector Contracts

Money and business  Economy News-Baghdad  The President of the Supreme Judicial Council discussed, on Monday, with the Minister of Finance, "the legal problems related to contracts signed with private sector companies."

A statement on the judiciary stated that "the head of the Supreme Judicial Council, Judge Faiq Zaidan, received Finance Minister Ali Abdel Amir Allawi and discussed with him the legal problems related to contracts signed with private sector companies."

He added, that the two sides also discussed "the role of the judiciary in correcting the errors raised regarding those contracts and cooperation in order to preserve public money."

Views 221  Added 08/08/2022 - 1:01 PM  Update 08/08/2022 - 8:38 PM

https://economy-news.net/content.php?id=29219

Zidane Discusses With The Minister Of Finance The Problems Of Contracts Signed With Private Sector Companies

Monday, August 8, 2022 12:44 PM  Baghdad / National News Center   Today, Monday, the President of the Supreme Judicial Council, Faiq Zeidan, discussed with Finance Minister Ali Abdel Amir Allawi the legal problems related to contracts signed with private sector companies.

Judiciary media said in a statement received by the National News Center that

"the head of the Supreme Judicial Council, the judge, received the Minister of Finance and discussed with him the legal problems related to contracts signed with private sector companies and the role of the judiciary in correcting the errors raised regarding those contracts and cooperation in order to preserve public money.". https://nnciraq.com/146055/

Industry Announces The Involvement Of The Private Sector In Its Plan To Rehabilitate Factories

Sweetened Today, 18:21   Baghdad - INA - Nassar Al-Hajj  The Ministry of Industry and Minerals announced today, Monday, the details of its plan, which includes 3 phases, for the rehabilitation and operation of the suspended factories and factories.

And the media center in the Ministry of Industry said, to the Iraqi News Agency (INA), that "the Ministry of Industry and Minerals, since the beginning of the formation of the current government, has adopted a national project and an ambitious plan to rehabilitate and operate the suspended factories affiliated with the ministry in all governorates, which number 83 factories and laboratories out of 288 factories.".

The center added, "The plan consists of three short, medium and long-term phases, assessed according to the extent of the damage it has suffered and the percentage of rehabilitation it needs,"

noting that "He pointed out that "the ministry has started implementing the short-term plan since the Minister of Industry took over the tasks and it was fully accomplished in the third quarter of last year with the ministry's own capabilities by rehabilitating 17 factories and laboratories in the manufacture of bricks and pipes, sprinkler irrigation factories, oxygen factories, food and electrical industries, and others,"

explaining that "The implementation of the medium-term plan, which needs funds at a rate of more than 30%, has been initiated, through partnership with the private sector, which is currently a partner with the public sector.

Together, they raise the slogan “Made in Iraq”, whose results will be announced in the coming months and the transition to the long-term plan.

He continued, "This plan resulted in the rehabilitation and opening of a number of important and strategic factories since late last year, such as the opening of a modern and integrated factory for the production of dab fertilizer in Basra this year in partnership with a specialized British company with a capacity of 1500 tons per day,

in addition to the opening of a petrochemical plant this year to produce Low-density polyethylene granules with a capacity of 120 tons per day, after stopping it for more than 12 years.

He pointed out that "modern and integrated lines were opened in the textile, electrical, asphalt, cement, veterinary medicines and others in several governorates this year, with several new factories and production lines under opening and entering the production process in the remainder of this year."  https://www.ina.iq/162774--.html

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Iraqi News Monday Afternoon 8-8-22

Iraqi News Monday Afternoon 8-8-22

Tlm724 Administrator Bondlady’s Corner

The Central Bank Issues Instructions Regarding Financial Transfer Between Cards

August 08, 2022   The Central Bank of Iraq issued a directive to banks and electronic payment service providers to approve the financial transfer ceiling between bank cards (P2P) that does not exceed (500) thousand dinars per transfer, provided that the total amount of transfers does not exceed (2) million dinars per month, or its equivalent in US dollars. .. To view, click here  https://cbi.iq/static/uploads/up/file-165995336647671.pdf

https://cbi.iq/news/view/2055

The Central Bank Raises The Maximum Limit For Virtual Electronic Cards

August 08, 2022  The Central Bank of Iraq would like to inform banks and electronic payment service providers to amend the upper limit for the ceiling of virtual electronic payment cards to 950 thousand dinars or its equivalent in US dollars, after it was 750 thousand dinars... To view, click here https://cbi.iq/static/uploads/up/file-165995336647671.pdf       https://cbi.iq/news/view/2056

Integrity Discloses Its Procedures Regarding The Contract Between Al-Rafidain And Ishtar Gate Company

Monday, August 8 2022 2:05 PM  Baghdad / National News Center   Today, Monday, the Integrity Commission disclosed the existence of an investigative case that it filed on June 3 before the judge specialized in integrity issues regarding the contract concluded for the issuance of electronic payment cards between Rafidain Bank and the company (Ishtar Gateway) for electronic payment.

The Commission’s Investigation Department confirmed, in a statement received by the National News Center, linking the case received by a member of the House of Representatives - the Parliamentary Integrity Committee, with one of the cases it had previously investigated. for their participation in the matter of violations in the contract concluded between the bank and the company.”

The department added that it "requested to take a statement from the legal representative of Rafidain Bank and the recommendations of the administrative investigation composed in the Ministry of Finance and the minutes of the technical committee emanating from the recommendations of the administrative investigation," pointing out that

"the authority addressed the Rafidain Bank to provide it with the administrative investigation and the presence of their legal representative, but the answer was not received."  She added,

"The report of the Federal Financial Supervisory Board, in turn, indicated that there was a violation represented by the Central Bank granting a license to the company that led to the passing of the contract, despite the issuance of the Central Bank's decisions to stop promoting the requests of electronic payment companies."

While the authority completed its investigative and audit procedures that led to the referral of the case to the Rusafa Investigation Court, which is specialized in looking into integrity issues, pending the issuance of the appropriate judicial decision, according to the statement.

The department warned that “the authority urges all state ministries and institutions to expedite providing it with the minutes of the administrative investigation upon request, along with the testimonies of legal representatives, indicating that most of the cases that are delayed in deciding are due to the delay in providing them with this after the abolition of the system of general inspectors.”

The media and social networking sites had circulated a document of the judiciary obligating the Rafidain Bank to pay (600) million dollars to the Ishtar Gateway Company for systems and electronic payment services for money; Following the bank's termination of one of the contracts concluded with the company. https://nnciraq.com/146066/

Al-Sumaidaie Talks About The Struggle Of “Palm, Key Card And Ishtar Gate”: Electronic Payment Is Stealing The State

Monday, August 8, 2022 2:32 PM  Baghdad / National News Center  Politician Ibrahim Al-Sumaidaie confirmed, today, Monday, that  the struggle of the three giants, the palm tree, the ironing card, and the Ishtar Gate, which tried to enter the market, is stealing the state, the citizen and the employee and financing corruption, sedition and mercenaries.

Al-Sumaidaie said in a comment, followed by the National News Center, that “the real power and investment in it crawls daily into unknown ghosts, some of whom are names whose shape no one knows, while the struggle of the parties and authorities continues over nothing, or a struggle on behalf of the ghosts’ privileges.”  He added that

"the struggle of the three giants, palms, ironing, and the Ishtar Gate, which tried to enter the market, was excluded and exposed, electronic payment steals the state, the citizen, the employee, and finances corruption, sedition, and mercenaries that kill and threaten Yalweel and Thabor, and thousands of armed teams of electronic armies that dropped all values."  He continued,

"The ruling to compensate the Ishtar Gate is a decision that sparked a wave of criticism that will inevitably push its cancellation, but palm trees and ironing cards will continue to acquire hundreds of millions per month, and whoever approaches them will be burned by all means."  He concluded by saying: "Iraq is lost, lost, lost, people."     https://nnciraq.com/146070/

Al-Rafidain Bank Appeals Against A Decision To Fine It $600 Million

Economy     Rafidain Bank  2022-08-08 00:56  Shafaq News/ Al-Rafidain Bank issued a clarification on Monday regarding the Iraqi judiciary's decision to pay a fine of 600 million dollars to Ishtar Gate Company, noting that it had appealed the decision to the judiciary.

The bank said in a statement received by Shafaq News Agency, "It had the need to contract with more than one electronic payment company at the time to expand the base of competition to provide the best services to citizens at acceptable prices, as invitations were subsequently sent to electronic payment companies approved by the Central Bank of Iraq." to present its bids.  He added,

"The contract that was concluded with Ishtar Gate Company was on 3/4/2021, by the former general manager of the bank before obtaining the Ministry's approval in accordance with the terms of the contract, as the contract violated many of the previous technical conditions that the Ministry had specified for the bidders."

And she added, "After presenting the contract to the ministry and reviewing the commercial aspects of it, which grants the bidder unjustified advantages and profits at the expense of the bank's customers,

and when the ministry was informed of the conclusion of the contract, the minister directed the re-audit of the contract in the interest of the ministry on 3/9/2021 or cancel it if necessary,

where no The contract should be signed only with the approval of the legal department and the information technology department in the ministry and according to the previous instructions.

And she confirmed that "the matter was referred to investigation with the withdrawal of the hand of the former general manager of the bank at the time, with the file referred to the Integrity Commission to take legal measures against the negligent,"

noting that  "the company resorted to the judiciary to request the termination of the contract and compensation after the Ministry's decisive procedures, and the competent court issued its decision to terminate the contract." With the bank obligating the amount of compensation, as the bank continues to follow the legal procedures, as the unfair decision issued against him was appealed, hoping to reconsider its content in a manner that secures the preservation of public money.

The "Ishtar Electronic Payment Company" fined Al-Rafidain State Bank 600 million dollars after filing a lawsuit to the competent court.

It is noteworthy that the Iraqi Minister of Finance, Ali Allawi, decided on 3/9/2021 to refer the director of Al-Rafidain Bank to the investigation and withdraw his hand because of his signature on the “Ishtar Gateway” project for electronic payment, which does not meet the conditions and laws related to contracts. https://shafaq.com/ar/اقتصـاد/مصرف-الرافدين-يطعن-بقرار-يقضي-بتغريمه-600-مليون-دولار

St Louis Fed Iraq Gross Int’l Reserves, Breakeven Oil Price
Gross International Reserves Held by Central Bank for Iraq (IRQFAFARUSD) Line Graph
https://fred.stlouisfed.org/series/IRQFAFARUSD

International Monetary Fund, Gross International Reserves Held by Central Bank for Iraq [IRQFAFARUSD], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/IRQFAFARUSD, August 7, 2022.

Gross International Reserves Held by Central Bank for Iraq (IRQFAFARUSD) Bar Graph
https://alfred.stlouisfed.org/series?seid=IRQFAFARUSD&utm_source=series_page&utm_medium=related_content&utm_term=related_resources&utm_campaign=alfred

International Monetary Fund, Gross International Reserves Held by Central Bank for Iraq [IRQFAFARUSD], retrieved from FRED, Federal Reserve Bank of St. Louis;
https://fred.stlouisfed.org/series/IRQFAFARUSD, August 7, 2022.

Iraq - Total Reserves (includes Gold, Current US$)
https://tradingeconomics.com/iraq/total-reserves-includes-gold-us-dollar-wb-data.html

Breakeven Fiscal Oil Price for Iraq (IRQPZPIOILBEGUSD) Line Graph
https://fred.stlouisfed.org/series/IRQPZPIOILBEGUSD

International Monetary Fund, Breakeven Fiscal Oil Price for Iraq [IRQPZPIOILBEGUSD], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/IRQPZPIOILBEGUSD, August 7, 2022.

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Monday AM Iraq Economic News Highlights 8-8-22

Monday AM Iraq Economic News Highlights 8-8-22

Oil Minister: Iraq Will Achieve Semi-Self-Sufficiency In The Production Of Oil Derivatives By 2025

Economie   12:36 - 08-07-2022   The Minister of Oil, Ihsan Abdul-Jabbar, announced that Iraq is the only country capable of producing the largest amount of crude oil among the crude-producing countries in the coming years, while indicating that Iraq will achieve semi-self-sufficiency in the production of oil derivatives by 2025.

The Minister of Oil said, "Iraq has capabilities It is exceptional and is almost the only one among the OPEC and non-OPEC producing countries that is able to increase crude oil production in quantities of up to 3.3 million barrels per day record over Iraq’s current production in the coming years.”

He added, "Iraq has transferred and other projects under referral capable of collecting more than 3,300 million barrels per day by the end of 2028, which will enable it to produce 8 million barrels per day at the end of 2025 in a manner that ensures the achievement of global stability in the energy market."

He pointed out, that " He explained, "The total for Iraq, which is fixed in the OPEC schedule, after the recent increase, has become around 4 million and 664 thousand barrels per day, compared to Iraq's share in the previous schedule, which was 4 million and 600 thousand barrels per day."

He pointed out, "Iraq has a surplus production at stake, to market the required quantities for the oil market globally," stressing that "there has not been a record drop in the crude export rate, due to problems in the export platforms."

With regard to importing oil derivatives, the Minister of Oil stressed that "Iraq will enter the stage of semi-self-sufficiency in oil derivatives locally by the end of 2025."

He pointed out, "Our steps to dispense with importing oil derivatives will be on two axes. The first is to enter the Karbala refinery into service in October 2022, which will reduce Iraq's need for gasoline and gasoline by 50%, i.e. from 15 million liters, the amount of daily need, to 7 million. liters, while the second Basra refinery fcc will reduce up to 3 million liters per day, which will help to complete the projects of Baiji north of Baghdad and Diwaniyah in central Iraq, to ​​compensate for the rest of the mentioned needs.

https://kirkuktv.net/AR/Details/8067

The Price Of Gasoline In Kurdistan Is 3 Times That In Baghdad..And These Are The Reasons

Posted On2022-08-08 By Sotaliraq    Fuel prices in Kurdistan burden the population.

The high fuel crisis in the Kurdistan region has cast a shadow over the economic situation of the population, in light of the repeated demands by the authorities to intervene to solve the crisis, which is occurring in an oil-rich region.

The price of one liter  of gasoline  is 1500 Iraqi dinars (about one dollar), while the price of a liter of gasoline in the capital  , Baghdad , is about 450 dinars, which is a big difference, arising from the accumulation of  the economic crisis,  and the inability of the competent authorities to deal with the matter.

During the previous years, fuel prices were low due to the drop in the oil price, in addition to the fact that the price of the dollar was 120,000 dinars per 100 dollars, but the situation changed radically after the rise in fuel prices globally, and the adjustment of the exchange rate by the Iraqi government, the exchange rate became close to 150 thousand dinars, for one hundred dollars.

When  the Sulaymaniyah governorate witnessed,  last Saturday, widespread protests to denounce the deterioration of the living conditions, the lack of job opportunities and the delay in the monthly salaries of employees, the file of high  fuel prices  was on the list of demands of the protesters, who were harshly confronted by the security authorities.

The most affected segment

The segment of taxi drivers stands out, as the groups of the Kurdistan region society most affected by this alarming rise in fuel prices, for their urgent need to supply their cars with gasoline more than others, which was also reflected on the poor classes who use taxis in their transportation, as taxi prices rose to more than 35%.

In the center of Sulaymaniyah province, on Mawlawi Street, Amanj Reber, a taxi driver, was coming from the city of Bakhtiari.

Reaper told Sky News Arabia that the rise in the price of gasoline turned the lives of citizens upside down, and was not limited to taxi owners.

The regional authorities are still indifferent to this continuous rise, which portends great dangers, such as demonstrations or a general strike," Reber added.

The Kurdish citizen believes that “the crises began to put a lot of pressure on the people; Such as the crisis of employee salaries and fuel prices.”

What complicates the fuel price file for drivers is the low transportation fees within the city center, which amount to three thousand dinars (two dollars) for areas inside the center, and five thousand dinars outside the center, in light of the presence of huge numbers of cars working in the field of transport.

In addition, the oil price’s association with refineries and suppliers often causes this rise, with the lifting of subsidies by the Ministry of Oil and Natural Resources, in 2016.

Partial Solutions

In an effort to reduce the crisis, the federal government in the capital, Baghdad, allocated several official stations in the city of Sulaymaniyah, selling at 650 dinars per liter, but it was unable to solve the crisis because of the long queues at those stations.

Some drivers are forced to go to the province of Kirkuk, which is adjacent to the region, or Mosul, to refuel, as those cities sell at the price of the federal government.

Officials attribute this rise to weak government support in Kurdistan for the fuel sector, which makes this product vulnerable to the desire of commercial companies, while the federal government supports this product with more than one billion dollars annually, to control its prices and prevent the outbreak of a fuel crisis.

On the other hand, the local authorities in Sulaymaniyah Governorate, in cooperation with the city's representatives in the Federal Parliament, are seeking to increase the governorate's share of gasoline.

On Sunday, a member of the Iraqi parliament for the province, Briar Rashid, announced the approval of the Federal Oil Minister, Ihsan Abdul-Jabbar, to increase the province's share of gasoline.

Rashid said, in a press statement: "The Undersecretary of Oil for Fuel Distribution Affairs, Hamid Al-Zobaie, has officially approved an increase of 180,000 liters for the governorate's share of gasoline."

He added: “After pressing for the implementation of this request, for more than three months, the Minister of Oil agreed to increase the quota,” adding: “According to the Oil Ministry, the total amount of gasoline sent from Baghdad to Sulaymaniyah will reach 540 thousand liters, and the total amount of Gasoline will soon reach Sulaymaniyah.”

The Kurdistan region has only two plants for refining oil and producing fuel, and they are not enough for local consumption, according to officials.

The crisis with Baghdad affects

In light of the global rise in oil prices, the Kurdistan Region was unable to import fuel in large quantities, due to the financial distress it is going through as a result of the tension in its relationship with the federal government, which opened the door for smugglers and some traders to smuggle oil tankers towards the region, which the federal government allocates to its provinces. Especially the governorates of Nineveh and Kirkuk, which have borders with the Kurdistan Region.

And a Kurdish official believes that “the federal government should intervene in addressing the issue of smuggling, as it is carried out from outside the region, through companies that buy to sell it within governorates, as it is commercial, and this affects the region’s share, as it contributes to price manipulation.”

The official, who declined to be named, added to Sky News Arabia, that "the issue needs a clear and joint agreement between the two governments to avoid the current crisis and end the suffering of all residents of the region."   LINK

Deputy: An American Company Obstructs Energy Development In Iraq

Political | 12:54 - 08/08/2022   BAGHDAD - Mawazine News  accused the deputy of the Al-Sadiqoon bloc, Zainab Al-Moussawi, on Sunday, the American General Electric Company of obstructing the development of the electric power sector in Iraq.

Al-Moussawi said in a tweet followed by / Mawazine News /, "The German company Siemens has proven the ability and efficiency in Egypt through its four projects during the shortest period of time to provide 80 percent of the Egyptians' need for electrical energy."

And she added, "The American embassy, ​​by paying thousands of facilitators, impeded the previous Iraqi governments' attempt to contract with the German company Siemens to nullify the deal in favor of the American General Electric Company, which takes financial financing without real implementation." Ended 29 / M 99    https://www.mawazin.net/Details.aspx?jimare=201825

120 Billion Dinars To Implement The Population Census

Posted On2022-08-08 By Sotaliraq     Yesterday, Sunday, the Ministry of Planning revealed the most important developments related to conducting the population census that will be held next year. The ministry's spokesman, Abdul-Zahra Al-Hindawi, said in an interview with Al-Mada that "the Ministry of Planning continues its preparations to implement the population census, which was decided to be in the last quarter of 2023."

Al-Hindawi added, "The ministry took it upon itself to conduct the pilot census and complete its requirements by selecting specific areas from each governorate." He pointed out that "the implementation of the pilot survey will be conducted before the end of this year, with the aim of training staff and workers on mechanisms, testing capabilities, identifying problems and challenges and working to address them."

Al-Hindawi noted, "The Ministry of Planning has developed a plan to implement the population census in time and includes a set of basic activities that should be completed completely before the census is implemented." He pointed out that “the ministry has 120 counters that need training and qualification to carry out the task, as well as equipping them with tablets, because the census will be electronic, and with special specifications,” stressing the importance of “establishing a national data processing center, which will be the main hub for collecting and receiving all data.” .

Al-Hindawi went on to say that "the government has allocated 120 billion Iraqi dinars as a primary budget for the implementation of the population census."   LINK

Electricity Confirms An Increase In The Production Of Its Plants By 4 Thousand Megawatts Compared To Last Year

Posted On2022-08-08 By Sotaliraq   Baghdad/Bright news   The Ministry of Electricity stated that the national system has witnessed an increase of 4,000 megawatts compared to last year, noting that the secession incidents in the southern governorates came as an emergency matter that would be dealt with within a short time, stressing that its causes are related to high temperatures in addition to other symptoms.

And the Ministry of Electricity had stated in a previous statement received by (Al-Mada), that “the international weather report indicated that the regions of southern and central Iraq entered the international table of the highest temperatures recorded in the world, marking the beginning of the gradual thermal rise for the next ten thermal days, with degrees exceeding fifty degrees Celsius.”

The statement added, "The ministry calls on citizens to take into account the unprecedented rise in temperatures, rationalize energy consumption, turn off lights, and unnecessary electrical appliances, and reduce loads."

He pointed out, "This comes in order to preserve the stability of the system and to enable the system to keep pace with demand and not negatively affect the processing hours."

The ministry's spokesman, Ahmed Moussa, said, "The ministry started early in preparing the plan for operating electricity in the summer by conducting periodic and emergency maintenance."

Moussa added, in a statement to Al-Mada, that "the ministry's efforts have achieved an increase in production by nearly 4,000 megawatts compared to last year."

He pointed out, "Strategic lines have entered the service, which has achieved a kind of stability for the network, while supporting and rehabilitating the distribution sector with parts that were available."

Moussa pointed out, "The lack of approval of the budget has had a significant impact on our plans that were prepared for the summer, however, the citizen has sensed an improvement in the processing hours," noting that "the ministry has a plan to add more operational quantities, whether by linking with countries Neighborhood or solar energy projects.

He stressed, "What happened during the past two days, are technical problems that occur for equipment, transmission lines and obstetric units."

Moussa stated that "an accident occurred at the end of last week and caused the separation of the southern region, which are the governorates of Basra, Maysan and Dhi Qar, and led to the explosion of the circuit breaker and a disruption of one of the currents, which led to the separation of a number of transmission lines and obstetric units."

He continues, "Our staff quickly mobilized their efforts, and began isolating the scene of the accident and returning the obstetric lines and units to work."

Moussa stressed, "The incident was repeated yesterday in the southern region, as it is linked with Wasit Governorate through two energy transmission lines, namely the (Amin - Wasit) line and the (East Rusafa - Wasit) line."

And he added, "The (East of Rusafa - Wasit) line was exposed to gunfire, and the accident led to its separation from both sides, and the loads shifted to the (Amin - Wasit) line, which faced high energy withdrawals with high temperatures, and therefore the southern region separated from the system."

Moussa noted that "the repair took about two hours, as the lines, units and system were restored to work."

He stated, "The Minister of Electricity, Adel Karim, had nightly field visits to the National Control Center and Wasit Station, and the lines and units were returned to work."

Moussa added, "The system needs a few hours in order for the equipment to stabilize and return to what it was before the separation incident."

For his part, the head of the Parliamentary Energy Committee, Khaled al-Samarrai, said that "the committee is constantly following up the work of the Ministry of Electricity and the preparations it made for the summer."

Al-Samarrai continued, "The ministry confirmed that the reason behind the decline in equipment or cases of separation in the system, as happened in the southern governorates recently, is the result of the significant rise in temperatures."

He pointed out that "Iraq dealt with the issue of previous debts for Iranian gas amounts, and paid them all through the Emergency Support Law for Food Security and Development," stressing that "the ministry says that production has reached the highest levels by about 23 thousand megawatts."

Al-Samarrai finds, “The radical solution to the issue of electricity is through a shift to investment in the distribution sector, with the need to install smart meters and reduce waste rates.”

He stressed, "The system is subjected to two types of abuse, the first is by bypassing slums that are created without planning and other regions participate in their electric quotas, and the second type is by bypassing some governorates on their quotas established by the ministry."

Al-Samarrai called for "the re-working of a number of thermal stations owned by Iraq, especially in Wasit, Salah al-Din and Yusufiyah."

Al-Samarrai concluded, “It is not possible to rely on Iranian gas without setting a specific time limit, and we must develop our gas-producing fields in order to achieve self-sufficiency and that we do not need to import again.”

The scourge of corruption that afflicts state institutions is one of the reasons for the continuation of the energy crisis, in addition to the networks’ exposure to actual problems outside the control of the state, including the low levels of the Tigris and Euphrates rivers, the suspension of some power stations in dams, and terrorist operations against electricity transmission towers from time to time. In addition to the continuing increasing demand for the current at an annual rate of about two thousand megawatts. LINK

Electricity Sets The Date For The Completion Of The Connection With Saudi Arabia

Reconstruction and building   Economy News _ Baghdad   Today, Sunday, the Ministry of Electricity set the date for the completion of the connection with Saudi Arabia.

The ministry's spokesman, Ahmed Moussa, told the official news agency, "The ministry has identified with the Saudi side the routes of the lines, connection points and work mechanisms," noting that "the first phase of the agreement will include 1,000 megawatts."

He added, "Lines will be established through the Arar border crossing, and the Yusufiya station," noting that "the connection will be completed within 24 to 36 months."

516 . views   Added 08/07/2022 - 7:11 PM   Update 08/08/2022 - 2:18 PM

https://economy-news.net/content.php?id=29205

Monday AM Iraq Parliament News Highlights 8-8-22

Monday AM Iraq Parliament News Highlights 8-8-22

Protesters Continue Their Sit-In To Achieve The Demands, Most Notably The Dissolution Of Parliament

Sumerian special   2022-08-08 | 02:00   Source:  Sumerian   141 views   For the ninth day, the protesters continue their sit-in to achieve the demands, most notably the dissolution of Parliament

Protesters continue their open sit-in for the ninth day in a row the green Zone  Center Baghdad Demanding the dissolution of Parliament, the establishment of early elections and the change of the current political system, in addition to bringing the corrupt to justice and holding them accountable.

Sadrist Movement, the most popular weight inIraqProtesting here in front of Parliament for the second week in a row,, The demonstrators say that the demands have become clear and obvious, and the government must implement them if it wants to end the sit-in.

. To him the protesters are here

, and the clans, with their chants and flags, were not absent from the scene of the protests, at a time when the October demonstrators who responded to Al-Sadr’s call to form an addition and support for the protesters met them.   LINK

The New Generation: We are surprised by the silence of the Parliament over the arrests of MPs during the Kurdistan demonstrations

Policy   2022-08-07 | 07:43   4,753 views   The head of the New Generation bloc, Sarwa Abdel Wahed, was surprised today, Sunday, by the absence of an official denunciation by the Presidency of the House of Representatives regarding the arrest of a number of federal parliament deputies during the Kurdistan demonstrations.

Abdul Wahed said in an interview with Alsumaria News: "We are surprised that there is no official denunciation by the Presidency of the Parliament regarding the arrest of a number of Federal Parliament deputies during the region's demonstrations yesterday, even though the Speaker of Parliament called personally."

She added, "There are those who asked not to talk officially about the arrest of the deputies."

Abdul Wahed said in a press conference attended by Alsumaria correspondent, that "yesterday's demonstrations in Sulaymaniyah were popular demonstrations like others that take place in the streets of Baghdad and demand services and an adjustment of the economic situation."

She added, "The authorities in the region suppressed the demonstrations, although the calls were for peaceful protest," noting that "more than 600 detainees were arrested by the security forces in the region in all the cities of the region."

Abdul Wahed indicated, "The demonstrations in the region will continue until the demands of the people in the Kurdistan region are fulfilled," noting that "what happened yesterday is evidence of the fear of the power parties in the region from the voice of the people."

Dozens demonstrated, yesterday, Saturday, in the province of Sulaymaniyah in protest against the conditions in the Kurdistan region, while the security forces there arrested deputies, journalists and activists.  LINK

Al-Halbousi And Al-Kazemi Discuss Strengthening Political Understandings

Policy  2022-08-07 | 14:01   Source:  Alsumaria news   2,138 views   On Sunday, Parliament Speaker Muhammad Al-Halbousi and Minister Mustafa Al-Kazemi discussed strengthening understandings at the level of political forces.

A statement by Al-Halbousi's office said, "The Speaker of Parliament received, today, Sunday, Prime Minister Mustafa Al-Kazemi, to discuss the overall current political situation that the country is going through."

During the meeting, according to the statement, "they exchanged views, discussed the latest developments in the political and parliamentary situation, and ways to enhance understandings at the level of national political forces within the framework of the initiative presented by Al-Kazemi to get out of the current crisis and to develop solutions for it, for the interests of the Iraqi people."

During the meeting, the two parties presented "joint visions aimed at strengthening the course of the constitution and the law, putting the citizen's interest first, and taking into account that its results are the true expression of the will of the Iraqi people and their aspirations for sustainable security and stability."  LINK

Al-Fath: The Necessity Of Resorting To The Language Of Dialogue And Understanding In Order To Solve The Political Crisis

Iraq   12:43 - 08-08-2022   A member of the Al-Fateh Alliance, Khaled Al-Saray, stressed the need to resort to the language of dialogue and understanding in order to solve the political crisis and maintain peace and democracy.

Al-Saray said in a press statement, "The only way out of the political crisis lies in resorting to calm, dialogue and wisdom in order to bring the country to safety."

He added, "Iraq has a constitutional institution represented by the parliament, which holds accountable any person or party that offends Iraq and its constitutional and legal articles."

And he indicated that "a concession between the political parties would preserve peace and democracy, to achieve peace and to avoid tension and fighting, to ensure that every Iraqi gets what he deserves."

Al-Saray stressed the need to find solutions to the current situation through wisdom, dialogue and understanding between brothers by moving away from misunderstandings between political parties.

https://kirkuktv.net/AR/Details/8092

The President Of The Republic Receives The Vatican's Ambassador To Iraq

Iraq   11:59 - 08-08-2022  The President of the Republic, Dr. Barham Salih, received, at the Peace Palace in Baghdad, the Ambassador of the Vatican State to Iraq, Mitja Laskovar.

During the meeting, they discussed the strong joint bilateral relations between the two friendly countries and ways to develop them, broadening the horizons of joint cooperation in all fields, and joint coordination to promote a culture of coexistence, dialogue and convergence in order to establish peace.

The President of the Republic praised the role of the Vatican and the efforts of the Supreme Pontiff, His Holiness Pope Francis, in support and concern for the security and stability of Iraq and its people, and the consolidation of a culture of love and tolerance among peoples.    https://kirkuktv.net/AR/Details/8089

Al-Watania: The dissolution of Parliament has become an urgent situation, and this procedure must be preceded by this procedure

Posted On2022-08-08 By Sotaliraq   On Monday, the National Coalition called for a comprehensive national dialogue before dissolving the parliament, noting that the issue of dissolving parliament has become an urgent case, but new determinants of the political process must be set.

The leader of the coalition, Adnan Al-Danbous, said in a statement, "The crisis that the country is going through was not surprising, but rather expected as a result of the legal interpretations of the previous and current Federal Courts, which put the political forces in a permanent state of disagreement."

Danubs added, “The parliaments of the peoples of the world will be the winner of the highest seats who confront the executive responsibility and the loser addresses the responsibility of the opposition, except in Iraq, everyone is in power and everyone is in opposition.”

He explained, "The issue of the political crisis will not be resolved except by dissolving Parliament, but it must be preceded by a comprehensive national dialogue before the announcement, as it is agreed that Parliament will continue for a specified period for the purpose of approving a new election law, naming a new electoral commission, and choosing one of the two options discussed regarding the first government, forming a new government or keeping Al-Kazemi with changing his entire cabinet and granting it legitimacy for a specific period and bound to a specific program.”

Danbos pointed out that "the approval of the form of the electoral law and the electoral commission and the form of the government is agreed upon in advance through the comprehensive national dialogue." finished / 25 AD    LINK

Barzani's Party: The Language Of Dialogue And Making Concessions Is The Most Important In The Current Situation

Posted On2022-08-08 By Sotaliraq  The leader of the Kurdistan Democratic Party, Repin Salam, confirmed on Monday that the language of dialogue between the political blocs is the most important at the current stage.

In an interview, Salam said, "The language of dialogue between the political blocs and making concessions from all forces is the most important in the current stage."

He added that "the language of escalation and adherence to positions will not serve the political process and will not end the current crisis, and therefore the situation will remain as it is, and the most affected is the citizen, and all political blocs must understand this matter."

Earlier, a member of the State of Law coalition, Khaled Al-Saray, stressed the need to resort to the language of dialogue and understanding in order to solve the political crisis and maintain peace and democracy. LINK

Some "Monday News" Posted by Samson at KTFA 8-8-2022

KTFA:

Samson:  The Central Bank raises the maximum limit for virtual electronic cards

8th August, 2022

The Central Bank of Iraq would like to inform banks and electronic payment service providers to amend
the upper limit for the ceiling of virtual electronic payment cards to 950 thousand dinars or its equivalent in US dollars, after it was 750 thousand dinars... To view,  click here

Translation....

Good greetings to all banks, electronic service providers, issuing m/ prepaid electronic payment cards

Date: By the circular of this bank No. 23/777 on 5/2020  20 (the annexes are a copy of it as a link), and
for the purpose of regulating electronic services in a way that contributes to enhancing
levels of financial inclusion and achieving the principle of competition among banks and electronic
payment service providers licensed by this bank and in line with the market need

We would like to inform you of the amendment of Paragraph (1) Category One) of  Uncles above so that the upper limit of the end, the payment card does not exceed (950,000) dinars (ninety thousand Iraqi dinars) or its equivalent in the currency of the US dollar, to take the necessary and amend the regulations to include the above With appreciation.   LINK

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Samson:  Unspeakable suffering" in Iraq.. Heat sets records, and "mismanagement" exacerbates the crisis

8th August, 2022

Severe temperatures are causing paralysis in Iraq, and exacerbating the suffering of residents, who in some areas suffer from power outages during the summer, at a time when authorities are extending public holidays to protect employees from heat that reached 125 degrees "Fahrenheit" (51.6 degrees). centigrade), according to The Washington Post

The newspaper stated that "Iraq ranks fifth in the list of countries most vulnerable to the effects of climate change, and it is warming faster than most parts of the world (...) and it is not equipped to deal with such cases. And in the southern governorates of Basra, Dhi Qar and Maysan, the authorities said, on Saturday, that the electricity network stopped working for the second day in a row, which led to “plunging millions of homes into darkness, amid a suffocating heat wave

The newspaper said that as a result, "food spoiled in refrigerators and freezers, and some parents put their children in the car and drove for hours, as the air conditioning in their cars was the only source of cold air. Every night, Atheer Muhammad, an Iraqi from Baghdad, brings wet towels and ice water, makes sure the battery-powered fans are charged, and makes sure the automatic power switches that hardly an Iraqi home run through trying to get a night's sleep

Since 2003, experts say, Iraq has spent huge amounts of money to produce electric power, but without much benefit. In 2021, Prime Minister Mustafa Al-Kazemi said that Iraq had spent about $81 billion on the electricity sector, "but corruption was a strong obstacle to providing energy to people in a stable manner, and it is unreasonable spending without reaching a solution to the problem at its roots," according to Iraqi Media Network

The economic expert, Ahmed Al-Tamimi, said in a previous interview with Al-Hurra website that “the amounts spent on electricity may reach more than these numbers,” which were sufficient “to generate electricity more than twice the electricity that Iraq currently generates and up to twice its energy needs

A report by the International Energy Agency, issued in April 2019, indicates that Iraq's production capacity of electrical energy is about 32,000 megawatts, but it is unable to generate only half of it due to the ineffective transmission network it has. It is estimated that Iraq needs 40,000 megawatts of energy to secure its needs, with the exception of industrial ones

The newspaper pointed out that the political crisis reflected negatively on the Iraqis, and as a result of the failure to form a new government, no budget was approved, and "major spending decisions" were suspended. She pointed out that "electricity is not the only public service that is faltering." In addition, the agriculture and fishing sectors were affected by the drought

Exhausted hospitals are suffering to treat cases of heat stroke or breathing difficulties, which were exacerbated by heat and dust and sand storms, in addition to the toxic smoke rising from diesel electric generators, which Iraqis rely on in some areas as an alternative solution to power cuts. In addition to the above, work on construction projects has been halted due to the high temperatures. A combination of "high heat, drought caused by climate change, and mismanagement" caused previous protests in Iraq, and in several regions, repeated demonstrations are being held denouncing poor services and the lack of solutions in the face of the intense heat, according to the newspaper

After a spring in which dust storms were repeated in an unprecedented manner, which experts attribute to desertification and climate change, a heat wave is suffocating Iraq, which suffers from the deterioration of the energy sector, which exacerbates the suffering of Iraqis. After a spring in which dust storms were repeated in an unprecedented manner, which experts attribute to desertification and climate change, a heat wave is suffocating Iraq, which suffers from the deterioration of the energy sector, which exacerbates the suffering of Iraqis

Despite the yearly rise in temperatures during the summer seasons in Iraq, a large number of Iraqis still do not have the means to air-condition. Because of the deterioration of infrastructure and power transmission networks, most areas of Iraq live in unspeakable suffering during the summer days due to the lack of electricity

What makes the matter more difficult is the inability of a large part of them to secure funds to obtain the expenses of electricity generators to compensate for the lack of electricity, according to an AFP report  LINK

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Samson:  Angry protests in southern Iraq over electricity

8th August, 2022

The governorates of Basra and Dhi Qar in southern Iraq witnessed today, Monday, several demonstrations due to power outages in their areas. 

Shafaq News Agency's reporter stated that dozens of Basra demonstrators, angry due to the power outage, cut off important roads and intersections, including Al-Kuzaiza, Al-Zubayr, Baghdad, and Al-Tananir with burning tires, this morning.

In Dhi Qar, our correspondent explained that angry demonstrators cut off the olive intersection in Nasiriyah with burning tires, pointing out that the demonstrations took place due to the power outage in the areas of the two governorates.

For the third time, the electrical network in the governorates of Basra, Maysan and Dhi Qar in the south of the country witnessed a complete shutdown, last night, due to the explosion of the fifth obstetric unit at the Khor Al-Zubair station in Basra governorate.

Iraq has been suffering from a chronic electricity shortage crisis for decades as a result of the siege and successive wars. For many years, residents have protested against frequent power cuts, especially in the summer, when temperatures sometimes reach 50 degrees Celsius.

Iraq is holding talks with Gulf countries, led by Saudi Arabia, to import electricity from them by linking its organization with the Gulf system, after it had depended on Iran alone during the past years by importing 1200 megawatts as well as gas fuel to feed local electric power stations.

Iraq also intends to import electricity from Jordan and Turkey, in an effort from Baghdad to fill the shortage until it builds power stations that are able to meet local consumption.

VIDEO LINK   LINK

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Samson:  Construction workers demonstrate in Erbil to demand their financial dues

8th August, 2022

A number of workers in Erbil city organized a protest sit-in on Monday in front of a residential complex to demand payment of their overdue financial dues.

Kamran Kazem, a worker in the residential complex in front of which they demonstrated, told Shafaq News Agency, "The gathering is because the owner of the complex has evaded paying our financial dues, because a whole month has passed since we started work without receiving any money so far."

He called on government agencies in Erbil to "follow up on the issue and take our rights from the owners of this housing complex," noting that "the owners of the complex have threatened us with imprisonment if we go out and speak to the media."   LINK

Samson:  The protesters continue their sit-in to achieve the demands, most notably the dissolution of Parliament

8th August, 2022

For the ninth day, the protesters continue their sit-in to achieve the demands, most notably the dissolution of Parliament.

Protesters continue for the ninth consecutive day their open sit-in inside the Green Zone in central Baghdad, calling for the dissolution of Parliament, the establishment of early elections and the change of the current political system, in addition to bringing the corrupt to justice and holding them accountable.

The Sadrist movement, the largest popular weight in Iraq, is protesting here in front of Parliament for the second week in a row. The demands have become clear and evident, and the government must implement them if it wants to end the sit-in.

The clans, with their chants and flags, were not absent from the scene of the protests, at a time when they were met by the October demonstrators who responded to al-Sadr's call to form an addition and support for the protesters.

The pavilions that provide food support are increasing day after day, so there is no retreat or return except to achieve what the protesters here aspire to.  LINK

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Samson:  A source : Integrity and the Public Prosecution are investigating the Ashtar contract and arrest warrants for those involved

8th August, 2022

An informed source revealed that the Integrity Commission and the Public Prosecution had begun to open an investigation into allegations of corruption in the contract concluded between the Rafidain Governmental Bank and the Ishtar Gateway Company for Systems and Services {Al Ahlia}.

The source told {Euphrates News}: "There is a tendency to issue arrest warrants and summon those involved in the contract as part of the investigation procedures." The source indicated that "the arrest warrants will affect the former general manager of Al-Rafidain Bank (Hussein Ali Muhaisen) and the defendants with him in the bank because of the signing of the Ishtar Gate contract and the financial fine imposed on the bank to pay $600 million."

The Presidency of the Baghdad / Al-Rusafa Court had ruled on July 26, obligating Al-Rafidain Bank to pay a fine of $600 million to the company {Ishtar Gate} for systems and electronic payment services due to the termination of the contract between the two parties. An informed source revealed that Al-Rafidain refuses to pay compensation to Ishtar. The source told {Euphrates News} that "the bank called for the accountability and trial of the former general manager Hussein Ali Muhaisin and his entourage, who signed the contract illegally, which caused damage to the bank's reputation," according to the source. He pointed out that "Al-Rafidain holds the former director of the bank (Hussein Ali Muhaisen) fully responsible for that."

For its part, the Parliamentary Legal Committee announced its intention to appeal the decision to fine Al-Rafidain Bank. Committee member Ahmed Al-Asadi said in a statement received by {Euphrates News} a copy of it: “The judiciary issues its rulings according to what it needs of identification papers and legal defenses, and as members of the Legal Committee, we will stand by all our efforts with a legal challenge that will be submitted to the ruling issued a few days ago in granting compensation worth 600 million dollars. For one of the companies contracting with Rafidain Bank. He added, "We are all confident in the Iraqi judiciary to stand up to this frightening waste of public money and the organized looting of this poor people's money."   LINK

Sunday Evening Iraq Parliament News Highlights 8-7-22

Sunday Evening Iraq Parliament News Highlights 8-7-22

Al-Sadr: The revolutionaries are continuing, and the dissolution of Parliament has become a popular demand

Policy    2022-08-06 | 14:02    Source:  Alsumaria news    7,847 views   The leader of the Sadrist movement, Muqtada al-Sadr, confirmed, on Saturday, that the revolutionaries will continue their revolution, while the dissolution of Parliament has become a popular demand.

Al-Sadr said in a tweet on "Twitter", "There were positive responses regarding the dissolution of Parliament and a popular and clan response..."   LINK

A Parliamentary Request To Al-Halbousi To Hold An “Extraordinary Session” .. For This Reason (Document)

Policy   2022-08-06 | 09:10   13,938 views   Today, Saturday, Representative Burhan Al-Maamouri called on Parliament Speaker Muhammad Al-Halbousi to hold an “extraordinary” session to dissolve Parliament.

Al-Maamouri said, according to a document directed to Al-Halbousi, which Alsumaria News followed, that “based on the provisions of Article 64 of the Constitution, which states: First, the House of Representatives is dissolved by an absolute majority of its members at the request of one-third of its members, and given that the House of Representatives did not elect the President of the Republic on the basis of To the provisions of Article 70 of the Constitution and its failure to implement its constitutional obligations, please accept the dissolution of the House of Representatives and hold an extraordinary session for this purpose based on the provisions of Article 58 of the Constitution and setting a date for early elections.    LINK

The Commission Denies Setting A Date For Early Elections[/Size]

Iraq   10:58 - 08-07-2022   The Independent High Electoral Commission Denied On Sunday Setting A Date For Early Elections.

"The commission is a neutral professional institution that implements decisions issued regarding elections, referendums and other matters related to electoral work," said Jumana Al-Ghalai, spokeswoman for the High Commission.

And she added, "The Board of Commissioners is the supreme authority in the Electoral Commission, and it is concerned with setting the date or time period required to conduct any electoral process in consultation with the government based on the effective election law," noting that "the Board of Commissioners has not issued any decision or statement in this regard." .

Al-Ghalay stated, "With regard to the electoral budget, it usually has a special budget that may be with the federal budget or allocated individually, and this needs legislation, and that the possibility of holding elections or not, or whether they are ready or not, is up to the Board of Commissioners."

https://kirkuktv.net/AR/Details/8065

Al-Sadr: Dissolving Parliament Has Become An Irreplaceable Popular And Political Demand

Iraq   21:35 - 08-06-2022   The leader of the Sadrist movement, Muqtada al-Sadr, confirmed today, Saturday, that the dissolution of Parliament has become a popular, political and elitist demand that has no alternative.

Al-Sadr said in a tweet, "Thanks to God and His grace and the efforts of the heroic sit-ins, positive responses came with regard to (dissolving Parliament) and a popular and clan response, from academics, civil society institutions, and preachers of the Husseini pulpit, and even from some scholars of the honorable seminary and from some Kurdish, Sunni and even Shiite political leaders as well. ".

Al-Sadr added, "After I thank them, I invite them to take a serious stand to save Iraq from the tusks of corruption and dependency, and to correct the course of the political process that harmed the people and the country."

Al-Sadr continued, "So come to a common word and to serious and real actions, and let us stay away from meager dialogues. Iraq needs actions, not words."

He pointed out that "the people yearn for real reform that will save them from the suffering they are in, for which patience is no longer commendable, and let everyone know that the revolutionaries will continue their revolution until the demands are achieved and will not give up at all. O people, proud of oppression, just like Hussein.”

And Mr. Al-Sadr said, "Yes, (dissolving Parliament) has become a popular, political and elitist demand that has no alternative, and all the corrupt mouths should be silenced wherever they are, and God is the guardian of success and the supporter of reformers, for God does not like corruption."   https://kirkuktv.net/AR/Details/8058

Al-Fayyad: We Declare Our Full Support For The Palestinian People And The Islamic Resistance[/Size]

Political | 09:58 - 06/08/2022  Baghdad - Mawazine News   Today, Saturday, the head of the Popular Mobilization Authority, Faleh Al-Fayyad, issued a statement regarding the Zionist aggression in Gaza.

In a statement received by Mawazine News, Al-Fayyad said, "We are following with great concern what is happening to our people in Gaza, the steadfastness and defiance, of the vicious attacks of the usurping Zionist gang that are committing the most heinous massacres against the oppressed Palestinian people, who defend with valor and power their legitimate right to their land and holy sites."

He added, "The hearts of the Iraqis are with you, dear ones. We, as we have promised you, are confident that what is happening now will not weaken you and will not undermine your resolve. Rather, it will increase your strength and determination to continue the path of jihad and increase your enemy's humiliation and failure."

He continued: "We declare our full support for the dear Palestinian people and the victorious Islamic resistance as it bravely and violently confronts this brutal and treacherous Zionist aggression, and we call upon them and we pray for them with more steadfastness and patience, and that God grant them a decisive and urgent victory, for He is the supporter of the believers and the comforter of the patient resisters." Ended 29 / p. 87 https://www.mawazin.net/Details.aspx?jimare=201694

Al-Sadr Will Not Be Satisfied With The Early Elections And The Coordination Is Concerned About The Mechanisms Of Change

Posted On2022-08-07 By Sotaliraq      Baghdad / Tamim Al-Hassan    The second worst choice for holding elections is at this time, according to the viewpoint of the coordination framework, which appears as the “evil group” in its struggle with the leader of the Sadrist movement, Muqtada al-Sadr.

The Shiite forces, which later formed the "framework", reluctantly agreed during the October 2019 protests, to go to early parliamentary elections in which they lost dozens of seats.

The "coordinating annoyance" of the Sadrist movement's leader Muqtada al-Sadr's demand for "early elections" may seem easy in exchange for information about steps that precede the first procedure, represented by "radical changes."

According to the information circulated, the recent televised speech of the leader of the Sadrist movement "was not clearly understood by everyone," or that there are attempts to "distort the speech."

The information, according to sources close to the Sadrist movement, confirms to Al-Mada that "Al-Sadr will not be satisfied with holding new elections without changing the political equation."

In his televised speech, Al-Sadr said about his visions for the next stage: "Old faces, whatever their affiliation, will no longer exist."

To reduce the fears of the Shiite forces, which described his supporters’ storming of Parliament last week as a “coup,” he added about the mechanism of change: “Through a peaceful revolutionary democratic process first and then an early electoral democratic process after the dissolution of the current parliament.”

The "Attrimons" dealt with the words of the leader of the Sadrist movement about "early elections" and "dissolving parliament" as if they had found a treasure after an arduous and anxious search about what al-Sadr wants from his latest movement?

And the "coordination" circles interpreted the last words of the leader of the movement as "a retreat from the radical change" he spoke before the last sermon.

And sources from within the "framework" who spoke to (Al-Mada) considered that "the Sadrist movement has burned all its vehicles, and it has no choice but to call for early elections."

According to those sources, the current "did not want to hold early elections on the basis that they would reproduce the same problem of the blocking third and opposing the majority government project."

Therefore, the "Coordination Committee" began to deal with the last speech after realizing the "split scandal" that two of the bloc's leaders had ignited after Al-Sadr's speech, in order to prepare for the dialogue.

In the outburst of reactions to "Al-Sadr's speech", Hadi Al-Amiri, the leader of the Al-Fateh Alliance, rushed to support what the leader of the Sadrist movement had called for, before the "Coordination" came to grips with Al-Amiri's drift.

The leader of Al-Fateh said in a statement: "We support holding the early elections called for by Muqtada Al-Sadr, especially since the previous elections were marred by many suspicions and objections."

Defending his desire to meet the leader of the movement, he added, "This requires a comprehensive national dialogue in order to set a date, mechanisms and requirements for conducting them, and to provide appropriate climates for free, fair and transparent elections that restore citizen's confidence in the political process."

Al-Amiri had met at the time with the United Nations representative in Iraq, Jenin Plasschaert, and information was leaked about the “mediations” conducted by the latter to ensure a dialogue between the leader of Al-Fateh and “Al-Sadr.”

On the second day, Plasschaert visited the leader of the movement at his residence in Al-Hanana in the Najaf governorate, and described the meeting as “good.” After leaving Al-Sadr’s residence, she told reporters that she “discussed with Mr. Al-Sadr the importance of finding a solution to the political crisis.”

Prior to that, Haider al-Abadi, the leader of victory, had welcomed al-Sadr's speech. He said in a statement, speaking about the current leader's call for early elections, as: "It meets in many respects with our initiative to solve the crisis."

He added, "I salute his steps and all the brothers for preserving blood and achieving reform," while his partner in the coalition of state forces, Ammar al-Hakim, remained silent on the content of al-Sadr's speech.

Changes in the positions of the “coordinator” took place after the Sadrists stormed the parliament, where the leader of the wisdom movement Ammar al-Hakim for the first time rose from his speech against the movement, at a time when “Amiri” committed to his friendship with “Al-Sadr.”

The leader of the current had called on Al-Amiri more than once to leave the "Coordination Committee", the last of which was last week, before calling for a "radical change."

[Before the situation developed, the coordinating framework met on Thursday at al-Hakim's house in Baghdad, and stipulated early elections to vacate parliament.

The framework said in a statement after the meeting that it “supports any constitutional path to address crises, including early elections,” stipulating that: “After achieving national consensus around them and providing a safe environment for conducting them, all of this precedes work on respecting constitutional institutions and not disrupting their work.”

[size=45]The statement added: "Our roof remains the law, the constitution, and the interest of the people."

The position of the "Coordination" was different two months ago, as "Al-Hakim" and Qais Al-Khazali, the leader of Asa'ib, had called at that time to hold early elections.

However, according to sources within the Coordination Committee, "Nuri al-Maliki, who controls the Shiite bloc, is one of the staunch opponents of the elections, especially at this time."

The sources indicate that "some opinions within the framework say that he appears as an evil faction chasing after power because of the recent conflict with al-Sadr."

Al-Maliki had said in response to Al-Sadr's speech that: "Holding other early elections must be in accordance with the constitution and the 'national consensus'."

And he added in a tweet on "Twitter": that these conditions prevent "a repetition of what happened in the previous elections."

The total of 4 coalition seats in the 2018 elections, which now constitute the "framework", collected about 140 seats, while all Shiites (except for the Sadrists) in the last elections got less than 90 seats.

The "frame" currently controls the parliament after it occupied the seats of the resigned Sadrists, and al-Sadr may thus be unable to make changes to the election law or dissolve parliament.

Despite the support of Parliament Speaker Muhammad al-Halbousi for the speech of the leader of the movement, according to a statement issued by the latter, the steps to dissolve parliament are known in the constitution and require the vote of the majority of deputies.

Hence, the "frameworkers" are increasingly concerned about the mechanism that the leader of the Sadrist movement wants to use in the process of change, especially with the multiplication of hope for dialogue.

According to what was leaked of information, al-Sadr had refused Plasschaert's mediation for dialogue with Hadi al-Amiri, who was again delegated by the coordinating framework for this purpose.

The leader of the movement said in his last televised speech, speaking of accepting dialogue: “There is no benefit from dialogue, especially after the people said their free, spontaneous word,” referring to the entry of his supporters into Parliament.

And the "Coordination Committee"'s concern increased with the sudden appearance of al-Sadr in the morning near the residence of the Supreme Leader Ali al-Sistani in Najaf.

Platforms close to the movement claimed that al-Sadr met al-Sistani, in a "scenario" similar to what happened in 2016, when the two met about 5 months after the first supporters of the movement stormed parliament.

On the other hand, Al-Attar claimed that Al-Sadr’s presence yesterday in the house of the supreme authority is to attend an annual Husseini council held by “Sistani,” which does not require that there be a meeting with the latter, at a time when no other politician appeared in the supposed council.

So far, no footage has been broadcast - as is customary in any announced visit to the reference - between the leader of the movement and "Sistani".

Al-Sadr had also aroused the concern of his opponents by launching a similar “change plan” that he revealed in his last speech in conjunction with calls from the leaders of the October protests to express the latter’s opinion “the seriousness of change” and “accounting the corrupt from his current” while preparing for a demonstration in Baghdad.

Before the demonstration, which took place on Friday in Al-Nusour Square, west of Baghdad, the leader of the movement had clarified his demands and vowed to hold all those involved in corruption accountable, including his affiliates.

Then, on the second day of his televised speech, the leader of the movement returned to approach the popular crowd, where he said in a tweet on Friday, speaking of his disagreement with the “framework,” that this does not mean: “Our beloved brothers in the popular crowd are affiliated with one of those two sides.’

He added: "The Mujahideen in the Popular Mobilization are closer to our (Al-Sadr's) opinions and adoptions."

Hundreds of al-Sadr's supporters had gathered on Friday to perform a mass prayer in the celebrations square inside the Green Zone, despite the high temperatures.  LINK

"Tidbits From TNT" Monday AM 8-8-2022

TNT:

Tishwash:  The Iraqi Stock Exchange announces the suspension of its activity for one day

The market management said in a statement received by Shafaq News Agency, that "based on the decision of the Council of Ministers to declare an official holiday for one day on the occasion of the tenth of Muharram, the stock trading session will not be organized."

He added, "The activity will be practiced after the official holiday and starting on Wednesday, August 10, according to its official timings."

It is noteworthy that the Iraq Stock Exchange (the Iraqi Stock Exchange) organizes five trading sessions per week from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism, hotels and services.  link

Tishwash:  Al-Sadr: Reform will defeat corruption in Iraq

The leader of the Sadrist movement, Muqtada al-Sadr, said on Monday that reform will defeat corruption in Iraq.

Al-Sadr said in a tweet on his Twitter account: "Oh God, accept our current vigil in the Green Zone with you. It is with you, not with your corrupt and subservient enemy."

He added, "Just as blood triumphed over the sword in kindness, so will reform triumph over corruption in our beloved Iraq."

Below is the text of the tweet:

In the name of the Lord of Hussein

Peace be upon you, O master of the martyrs, peace be upon you and the rebellious ones

May God magnify our reward and your reward with the affliction of Imam Hussein, my soul to him. Rather, God magnified the reward of the Messenger, and God magnified the reward of the Virgin, and God magnified the reward of God.

The wages of a virgin's husband.  My condolences go to the station of Mawlana, the owner of the age and time. Your understanding is with you, not from your enemy from the corrupt and dependent  And as victory is blood over the sword in the throat, so reform will triumph in science

Here, I do not say: I wish we were with you, but I say: Oh God, accept our current protest stance in the Green Zone with you.

 Corruption in our beloved Iraq

Peace be upon Imam Hussain, and curse be upon those who say, and peace be upon one of the values, reform, and no consolation, the security of blood corruption

 Surah Muharram New

 Servant of Imam Hussein Muqtada al-Sadr   link

************

CandyKisses:  Decisive meeting to be held in Erbil next Wednesday, official says

Shafaq News / President of Diwan of the Kurdistan Region Presidency, Fawzi Hariri, said on Monday that a meeting will bring together the Presidency of the Region and the heads of Kurdistani political parties, to discuss holding the Parliamentary election. 

Hariri told Shafaq News agency that the Special Representative of the Secretary-General for the United Nations Assistance Mission for Iraq, Jeanine Hennis-Plasschaert, will attend the meeting, which will take place next Wednesday.

He added that aside from the election file, the meeting will shed light on the pending issues between the political parties in the Kurdistan Region. 

Last February, President Nechirvan Barzani signed an order to hold the legislative election on October 1st.

The last election held in the region was back in 2018. The Kurdistan Democratic Party won a majority with 45 out of 111 seats. However, its rival, the Patriotic Union of Kurdistan, won 21 seats.

************

CandyKisses:  Al-Fatah: We are not against the re-election -- The decision to dissolve the Parliament is the first condition

Baghdad - NAS  

Rafik al-Salhi, a member of the Fatah alliance that is part of the coordination framework, said on Monday that his alliance is not against the re-election, while noting that the decision to dissolve parliament is the first requirement in this framework.    

In a statement to the official newspaper followed by NAS (August 8, 2022), the MP pointed out that "there are points to work on the holding of elections; first it decides to dissolve the parliament in accordance with the constitutional legal procedures, and to take place under an authentic government and not a caretaker government."  

 "We are not against the re-election, we are the first to challenge its fairness and manipulate the results," he said.  

He asked: "Who will bear the high financial costs spent for the 2021 elections, which may not be the last early according to the pressure of some blocs or their moods," and added that "the coordination framework is adhering to its candidate Mohammed Shia al-Sudani and holding a session and forming a consensus government that takes into account the electoral entitlements even for the blocs that withdrew because they represent a mass base."  

"The president of the republic must be elected and the prime minister assigned in order for the political process to proceed with any national decisions," he said.  

Earlier, the coordination framework announced its position on the demand of Sadrist leader Moqtada al-Sadr to dissolve parliament and hold early elections.  

 A statement of the framework received by "Nass", a copy of which (August 4, 2022), said that it "confirms its support for any constitutional path to address political crises and achieve the interests of the people, including early elections after achieving national consensus around them and providing a safe atmosphere for their conduct, and preceded by all this work to respect the constitutional institutions and not to disrupt their work," stressing in the same regard that "our ceiling remains the law, the constitution and the interest of the people."   

Mot:  .. More insight into that marital Thingy! ~~ 

Mot: .. Yeppers... More insight into that Marital Thingy! ~~~

Iraqi News Sunday Evening 8-7-22

Iraqi News Sunday Evening 8-7-22

Tlm724 Administrator Bondlady’s Corner

After A Decision To Confiscate Its Money.. Parliamentary Demands To Take Into Account Iraq's Economic Lung

Politician    Last update 08/06/2022 | 10:50 PM  Information/Baghdad...  Today, Saturday, the representative of Basra Governorate, Rafiq Al-Salihi, called on the caretaker government headed by Mustafa Al-Kazemi to take into account the economic capital of Iraq, preserve its funds and not confiscate them.  Al-Salihi said in a statement to the "Information" agency, that "the confiscation of Basra's money from the petrodollars and border crossings is a robbery of the rights of its people and a violation of their economic capabilities in light of the governorate's need for water, electricity and infrastructure projects."

He added, "The deputies of Basra Governorate will take all legal and legislative measures to stop the injustice and prejudice that befall the province as a result of government decisions aimed at confiscating the province's money and depriving its citizens."

Al-Salihi indicated, "The current outgoing government headed by Mustafa Al-Kazemi deals with duplicity with the southern provinces compared to the Kurdistan region."

And earlier, the local government in Basra announced its categorical rejection of the cabinet’s decision to transfer its own financial allocations for the governorate’s projects plan to the 25th Gulf Championship.

https://almaalomah.me/2022/08/06/612532/

The Industry Announces The Provision Of Facilities To Support The Private Sector

Money and business   Economy News _ Baghdad  Today, Sunday, the Ministry of Industry confirmed that it had taken several measures to support the private sector, while indicating the imminent opening of a number of industrial cities.

The Director General of the Technical Department in the Ministry, Nasser Idris Madani, said in an interview with the Iraqi News Agency and followed by "Al-Iqtisad News", that "the ministry is working to encourage and support the private sector, and is keen to find ways of cooperation and partnership with this important segment, especially in the absence of financial allocations from The state".

He added, "The private sector is one of the pillars of the general national economy, as the ministry, through its formations, contributed to supporting the sector, through the presence of its representation in the opinion board in the ministry, represented by the membership of the head of the Iraqi Federation of Industries in it, which is one of the most important tributaries of the national industry."

He added, "The General Directorate of Industrial Development is working to provide specialized services in order to grant industrialists who wish to establish licenses to establish various industrial projects and to follow up on the provision of services needed by these projects in terms of allocating plots of land, issuing tax exemptions, facilitating the import of raw materials and equipment, and granting an estimate of the need for raw materials and fuels for projects." Small and medium ones, as well as supporting the owners of private cement, asphalt and brick factories in the supply of fuel at subsidized prices.

He explained, "The ministry has contributed to the possibility of entering private sector products that contain added value in the annual product guide issued by the Ministry of Planning, in addition to the ministry's role in protecting many private sector products and obtaining fundamental approvals to prevent the import of similar products."

He pointed out that "the ministry has a role in activating the law of industrial cities and economic zones and preparing soon for the opening of a number of these cities that lead to the employment of thousands of citizens of industrialists, as well as the ministry's assumption of new investment opportunities for the public sector to private sector companies (local and foreign) and promotion He urged the private sector to enter into long-term strategic partnerships by concluding production-sharing contracts and rehabilitating the laboratories of government companies, in addition to the main role of the private sector in supply and service contracts concluded by ministry companies

Madani continued, "The Ministry of Industry is supporting the Ministry of Agriculture and Peasants by providing raw materials for many food products, in addition to operating factories for agricultural supplies such as agricultural tractors, covers, plastic, fertilizers, pesticides, sprinkler irrigation systems and other requirements that support the agricultural sector and then provide support to the sector.

" The private industrial sector, in addition to the Department of Industrial Development and Organization completing the transactions of the private sector in obtaining product protection,” noting that “the Trade Marks Department in the Ministry is facilitating the task of granting trademarks to the private sector.”

Views 28   Added 08/07/2022 - 4:01 PM    Update 08/07/2022 - 5:30 PM

https://economy-news.net/content.php?id=29203

Iraq Is In The Process Of Contracting With A Consulting Company To Build A Satellite

Last update 08/07/2022 | 12:38 PM Information/Baghdad.

The Ministry of Communications announced, on Sunday, that it is in the process of contracting with a consulting company to build the satellite, while referring to the reasons for the project's suspension ten years ago.

The Director-General of the Foreign Relations and Information Department in the ministry, Adel Al-Araji, told the Iraqi News Agency (INA), that

"the satellite is an ambitious project that has stopped since 2012 and has passed through the conditions of ISIS terrorist and the lack of a budget,"

noting that "since 2013 until today, it has not been monitored. An investment budget for this project.  Al-Araji pointed out that "a public tender has been launched for all Al-Fander companies, and

now we are in the process of contracting with a consulting company to determine the requirements and technical specifications for the satellite, and  the state budget will not cost any amounts on the investment budget." finished/25    https://almaalomah.me/2022/08/07/612569/

World Bank: Commodity Prices In Iraq Have Risen 7% Over The Past Two Months

Economic Last update 08/04/2022 | 1:27 pm  Information/Baghdad.  In a report, the World Bank warned of the danger of continued high inflation in most low- and middle-income countries, noting that the share of high-income countries, noting that Iraq witnessed an increase of 7.6 in foodstuffs.

Lebanon ranked first globally on the World Bank's index of food price inflation, surpassing Zimbabwe, which came in second, and Venezuela in third place.

This indicates the magnitude of the challenges ahead for Lebanon, which suffers from a severe crisis in its food security.

The World Bank warned of the danger of persistent high inflation in most low- and middle-income countries, noting that the share of high-income countries that face high inflation is witnessing a sharp increase in their rates as well, and published a list of the ten countries most affected by inflation and high prices.

His statistics for the year 2022 showed that the prices of food and beverages continued to rise in many countries of the Middle East region compared to the same period last year.

He attributed the direct cause of this reality to the Russian war on Ukraine, as the Middle East and North Africa region relies heavily on the Black Sea region for wheat consumption, stressing that the war in Ukraine “threatens poor countries with a food crisis and overlapping debt.”

While the report indicated that wheat is one of the staple foods in the Middle East and North Africa, the war in Ukraine is causing disruption in the wheat supply chain, causing critical problems in food security in the region.

As a result, the CPI for food increased significantly in most countries of the region, with Egypt (24.2 percent), Morocco (9.5 percent), Iraq (7.6 percent), Lebanon (216 percent), and (Syria 71 percent).), Yemen (43 percent), Palestine (8.1 percent), and most of these countries are facing severe wheat shortages. Done/25 d https://almaalomah.me/2022/08/04/612117/

An Israeli Report Warns: Al-Sadr's Victory Will Push Iran To Strike The Forces Of The Current With The Factions

Reports & Analytics   Iran   breaking   The leader of the Sadrist movement   Shiite factions

2022-08-07 03:06  Shafaq News/ The Israeli newspaper "Haaretz" considered that the current chaos in Iraq threatens to undermine Iran's regional role,

and that if it feels the decline of its influence further, it will not hesitate to ignite Iraqi fighting, whether between Shiites themselves or between Shiites and the rest of the other forces.

The beginning of the presentation of the Israeli report, which was translated by Shafak News Agency;

The following questions:

Is it possible for Iran to lose its most important bridge in the Middle East?

Is Iraq on the brink of civil war?

And most importantly, what does Mr. Muqtada al-Sadr want?

He added that whoever can answer the last question holds the key to answering the other two questions.

And after the report referred to the crisis after the recent Iraqi elections, in which it seems that it has no other choice but to dissolve parliament and hold new elections, it said that it may appear to be just another development in countries such as Lebanon, Tunisia and Sudan,

but in these countries it is related to a power struggle, while It is in Iraq that may have regional and international repercussions.

While the report described Iraq as a "failed state" due to corruption, unemployment, and the scarcity of water and electricity services, it pointed out that the current political battle may have actually begun since 2003, and the US mismanagement of the occupation phase. importance in the Middle East.

He also pointed out that the Shiite authority in Iraq, represented by Sayyid Ali al-Sistani, made it clear that he opposes the establishment of an Iranian model of governance in Iraq,

while those loyal to Tehran, many of whom resided in Iran during the years of exile, hope to establish a system that follows the principle of velayat-e-fiqh, as is the case in Iran, which the report described as an “ideological clash” reflects the bitter rivalry between the political blocs today,

and it is a Shiite-Shiite battle that feeds on ideological and religious differences as well as on “inflated ego wars” and intense competition for senior jobs and money.

The report reviewed the disputes taking place since the October 2021 elections,

attempts to form a government,

the struggle between the Shiite forces themselves and

the positions of the Kurdish and Sunni forces, leading to the Sadrists storming the Green Zone recently.

Similar to the high temperatures in Baghdad, the fears are that someone will open fire or that bullets will come out of a gun, which will lead to a war between everyone.

While noting that the Sadrists are now calling for new elections, the report considered that no one would be surprised if there was no one to accept this demand in Iraq,

adding that Iran was "worried about these developments and its inability to dictate the course of the process," and that Iran is concerned that new elections will take place. In Iraq, it will only lead to a further erosion of its position in Iraq, while al-Sadr exploits anti-Iran sentiments to his advantage.

The Israeli report concluded by saying that all these possibilities greatly concern Iran's leaders, explaining that Iran's loss of control over Iraq would lead to "a chain reaction in Lebanon and the destruction of Iran's image as a regional power."

He added that many in Iraq believe that if Iran is pushed with its back against the wall, it will use all its economic and political power against al-Sadr and his supporters, and that it may direct its Shiite militias in order to undermine al-Sadr's forces.   https://shafaq.com/ar/تقارير-وتحليلات/تقدير-سرا-يلي-يحذر-انتصار-الصدر-سيدفع-يران-لضرب-قوات-التيار-بالفصا-ل

The Stock Market Closed 0.57% Higher.

Stock Market   Economy News – Baghdad   The Iraqi Stock Exchange closed, up by 0.57%, supported by the positive results during the first half of some joint stock companies.

Today, Sunday, 379 transactions were concluded on the shares of 28 companies, including 14 companies whose shares witnessed an increase.

The traded shares amounted to 171.7 million shares, with a value of 467.9 million dinars.

Shares of Dar Al-Salaam Insurance, Al-Mansour Hotels, Al-Mamoura Real Estate and Ishtar Hotels rose, while metallic shares, bicycles, Al-Mansour Bank and Al-Ahly of Iraq declined.

96 . views   Added 08/07/2022 - 2:21 PM  Update 08/07/2022 - 5:27 PM

https://economy-news.net/content.php?id=29202

To read more current and reliable Iraqi news please visit BondLady’s Corner:

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Sunday Evening Iraq Economic News Highlights 8-7-22

Sunday Evening Iraq Economic News Highlights 8-7-22

Oil: 35 million liters of oil derivatives and 600 tons of liquid gas were secured in preparation for the Ashura visit

Energy    Economy News-Baghdad   The Undersecretary of the Ministry of Oil for Distribution Affairs, Hamed Younis, confirmed on Sunday that 35 million liters of oil derivatives and 600 tons of liquid gas have been secured in preparation for the visit of the 10th of Muharram in the holy Karbala, according to a statement from the ministry.

The statement quoted the Director General of the Oil Products Distribution Company, Hussein Talib, as saying that “a sufficient stock of oil products for the visit ceremonies was provided to the governorate in the new Karbala warehouse and Najaf warehouse, amounting to (15) million liters of gasoline, (5) million liters of white oil, and (15) million liters of gas oil, in addition to the continuation of the daily quota for the governorate,” referring to “the processing of liquid gas through (135) mobile agents accredited to the company’s branch in Karbala . ”

The Director General of the General Company for Gas Filling and Services Anmar Ali Hussein said that "the prescribed quota of liquid gas for the Karbala governorate has been increased from (500 tons to 600 tons) per day throughout the visit period to meet the needs of the filling plants of the material for the processing of liquid gas cylinders . "

The Deputy Director General of the Oil Pipelines Company, in charge of managing the company, Majed Abdel Reda, said, "The company has mobilized all its human and technical capabilities to participate within the Ministry's fuel plan for the occasion, as warehouses have been prepared to pump oil derivatives and equip them to distribution outlets . "

It is noteworthy that the Ministry of Oil prepares an annual plan to secure the fuel needed to revive the million religious occasions, and harnesses all possibilities to make its plan a success and the success of the visits ceremony .  10 . views   Added 08/07/2022 - 1:07 PM  Update 08/07/2022 - 1:16 PM

https://economy-news.net/content.php?id=29195

Iraq supports its oil production by 70 thousand barrels per day early next month

Posted On2022-08-07 By Sotaliraq  Baghdad/Bright news  Iraq is waiting for an increase in oil production by about 70 thousand barrels per day after the decision of the (OPEC Plus) group to raise production for member states by 100 thousand barrels starting next month, but experts expect a slight decrease in prices for many reasons, the most important of which is the continuation of speculation, warning against wasting the financial surplus in degrees functional.

The economic expert, Amer Al-Jawahiri, said, in an interview with (Al-Mada), that "Iraq's current production of oil is 4 million and 580 thousand barrels per day."

Al-Jawahiri added, "The decision of the (OPEC Plus) group to increase production for member states will begin to be implemented next month and raise Iraqi production by a limited extent."

He pointed out that "exports are limited by numbers, and they are below the level of production, since there is a part that goes to domestic consumption," noting that "the increase announced by OPEC will not change the current prices in the global oil market."

Al-Jawahiri stressed that “oil prices are subject to political factors, international intersections, stagnation and economic advancement in some countries.”

And he added, "The general budget for the past year estimated exports at 3 million and 250 thousand barrels," noting that "the current exports are sometimes lower than these rates and at other times they reach 3 million and 373 thousand barrels as the highest estimate."

Al-Jawahiri stressed that "the major importers of Iraqi oil are China and India," noting that "Russia and Iran have begun directing their exports to those two countries."

And he continues, "What Russia and Iran have resorted to has become at the expense of Iraqi exports, and maintaining our markets depends on the work mechanisms of the team that handles this process."

Al-Jawahiri noted that "observers are concerned, despite official assurances, that the increase in Iraq's share must be followed by an increase in exports."

Al-Jawahiri finds, “The other important point is, where are the oil revenues directed? Which means that the plan for spending in the current year is limited, and what we have received from revenues exceeds expenditures.” He added, "This means that we are facing a surplus in oil revenues, but its destination is not planned to achieve the economic benefit of the country, whether in terms of increasing production capacities or setting plans for the type of actual economy or infrastructure."

Al-Jawahiri went on to “warn against compromising this surplus on the operational side by providing jobs in the state, and this is a dangerous option that we call not to take.”

And the Ministry of Oil announced earlier that the average Iraqi crude oil exports for the month of July exceeded 3 million 303 barrels per day, while oil exports for the same month achieved financial revenues of more than 10 billion and 608 million dollars, at an average price of more than 103 dollars per barrel.

In a related context, the oil expert, Sadiq Al-Rikabi, said in a statement to (Al-Mada), that "the last increase in Iraq's production, according to (OPEC Plus), was by 71 thousand barrels."

Al-Rikabi continued, "Iraq's production before the last decision had reached 4 million and 580 thousand barrels per day."

He pointed out that "the recent decision of the international organization to increase 100,000 barrels per day will enable Iraq to increase another 12 thousand barrels," stressing that "Iraq's production will be 4 million and 592 thousand barrels per day, starting from next month."

As for prices, Al-Rikabi replied, that they are currently around “103.70 dollars per barrel, but I expect it to be slightly less than that in the coming period, especially with the decline in oil prices globally.”

For his part, the economist, Rashid Al-Saeed, told Al-Mada that "oil prices had risen to more than $130 a barrel, but they have now fallen to the level of $100 or less."

Al-Saeed added, "Changing oil prices according to the general principle should be subject to supply and demand, but what is happening today is that prices are governed by speculation in the markets."

He pointed out, "The Organization of Petroleum Exporting Countries (OPEC) has also become a victim of price manipulation by companies, banks and owners of storage capacities, but also from countries and international agencies."

Al-Saeed finds, "The oil-exporting countries are not the first beneficiary of the price hike, but may be the only victim."

And he stressed, "The prices of goods and their source are industrialized countries will rise insanely at all times."

Al-Saeed continues, "The total revenues of the Organization of the Petroleum Exporting Countries (OPEC) between 2004 and 2008 amounted to $3.346 trillion," adding that "the revenues of the industrialized countries during the same period from taxes on sales of petroleum products amounted to $3.428 trillion."

The “OPEC +” group approved an increase in oil production by 100,000 barrels per day, starting next September, which gives the market additional supplies, but at a much slower pace than in recent months. The group's ministers supported the proposal of the slight increase in an online meeting, last Wednesday, and (OPEC Plus) had pledged in July-August to add more than 600,000 barrels per day to the market.

This increase may not be a relief to consumers who are already suffering from inflationary pressures due to high oil prices, according to the US Bloomberg Agency. The planned increase is equivalent to only 0.1% of global demand for oil.   LINK

Russia Replaces Saudi Arabia And Iraq And Becomes The Largest Exporter Of Oil To India

Energy   Economy News-Baghdad     On August 5, Russia overtook OPEC+ ally Saudi Arabia to expand its market share in one of the largest importers of crude oil, despite increased demand for fuel in India and higher crude oil prices in the international market.

Russian barrels were less expensive than Saudi barrels in the April-June 2022 period, and supplied India with crude that expanded to about $19 a barrel in May. Russia even overtook Iraq to become India's second largest supplier in June .

India and China embraced Russian crude after the invasion of Ukraine causing most importers to shun its barrels. India imports 85 percent of its oil from Russia to provide some economic relief during high inflation and record trade deficits . According to what was translated by "Economy News" from the equitypandit website .

Government statistics show that the cost of India's oil imports rose to $47.5 billion in the second quarter due to rising global prices and demand for fuel. In the same quarter of 2021, when prices and volumes were lower, it was $25.1 billion. Oil prices have fallen recently due to concerns about a slowing economy, bringing relief to consumers .

Although the spread between Russian and Saudi crude prices narrowed in June, crude oil was still about $13 cheaper, with an average cost of about $102. Incidentally, Saudi Arabia was India's largest supplier of crude oil in 2021, while Russia ranked ninth .

During June of this year, Iraq continued to be India's largest supplier of crude oil. The price of Iraqi crude oil, a supplier of OPEC, was nearly $9 a barrel, more expensive than the price of a Russian barrel in May, but was cheaper in all other months. India's imports from Russia have increased tenfold since March .

70 . views   Added 08/07/2022 - 9:30 AM   Update 08/07/2022 - 1:19 PM  

https://economy-news.net/content.php?id=29186

Iraq's Oil Exports To America Amounted To Nearly 10 Million Barrels In A Month

Energy     Economy News _ Baghdad  Today, Sunday, the US Energy Information Administration announced that Iraq's oil exports to America amounted to nearly 10 million barrels last July.

The administration said in its schedule, which was reviewed by "Economy News", that "Iraq exported 9.982 million barrels of crude oil to America during the month of July, at a rate of 322 thousand barrels per day," up from the month of June, in which Iraqi oil exports to America amounted to 8.190 million. barrels at a rate of 273,000 barrels per day.

And she added, "Iraq exported crude oil to America during the first week of July at a rate of 302 thousand barrels per day, while an average of 454 thousand barrels per day was issued in the second week, and an average of 165 thousand barrels per day was exported in the third week," noting that "the exports of the fourth week amounted to 369,000 barrels per day.

The US Energy Information Administration stated that "Iraq ranked fourth in its exports to America during the past month, after Canada, Mexico, and Saudi Arabia, and the second Arab country after Saudi Arabia, whose exports to America reached 14 million, and 663,000 barrels per day," noting that "Canada It ranked first as the most oil-exporting country to America, followed by Mexico."

Views 102  Added 08/07/2022 - 9:49 AM  Update 08/07/2022 - 1:21 PM

https://economy-news.net/content.php?id=29189

Iraq Imports Gemstones And Precious Metals From Turkey With More Than One Billion Dollars, And An Expert Comments

Shafaq News/ Iraq imported various precious stones and minerals from Turkey with a value of more than one billion dollars during the past year 2021, according to the trade map website, which provides a map of countries' trade for exports, imports, international demand, alternative markets and competitive markets.

The site mentioned in a statistic published on its website and seen by Shafak News Agency; "Iraq imported from Turkey during the past year 24 items of goods with a value of 11.131 billion dollars," noting that "these imports grew by 5% between 2017 to 2021."

He added that "precious stones and precious metals came first in Iraq's imports from Turkey, with a value of 1.421 billion dollars, followed by plastics and its products, with a financial value of 643 million dollars, followed by machinery and mechanical devices, with a value of 588 million dollars, followed by furniture and furnishings with a value of 555 million dollars, flour products with a value of 555 million dollars. It amounted to 531 million dollars.

He added that machinery, electrical equipment and its parts came sixth with a financial value of 498 million dollars, iron and steel factories came with a value of 472 million dollars, meat and its products came with a value of 424 million dollars, and grain, flour, starch or milk preparations came. And pastry products with a value of $406 million, while the last Iraqi imports from Turkey came with the lowest value being stone or plaster and cement products, with a value of $150 million.

For his part, the economic expert, Hilal Al-Tahan, said in an interview with Shafak News Agency; The "occupation of precious stones and precious metals in the first place in Iraq's imports from Turkey is a natural matter due to its high price, especially with regard to gold and platinum and its works in the form of medals, coins and other forms.

He added that "Iraq also imports large quantities of food products, but the table distributes these products among varieties of meat, flour and other agricultural products, and therefore they are distributed in the table without occupying higher ranks in terms of value," noting that "Turkey has become the most importing country." Iraq and thus compete with Chinese products in the local markets due to their quality and somewhat appropriate prices."    LINK

The Stability Of Gold Prices In The Baghdad Markets

Shafaq News/ "Foreign and Iraqi" gold prices stabilized in the local markets in the capital, Baghdad, today, Sunday (August 7, 2022).

Shafak News Agency correspondent said that gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, recorded this morning, the selling price of one weight of 21 karat of Gulf, Turkish and European gold is 369 thousand dinars, and the purchase price is 365 thousand, which are the same prices that were recorded yesterday, Saturday morning.

Our correspondent indicated that the selling price of one 21-carat weight of Iraqi gold was also stable at 329 thousand dinars, and the purchase price amounted to 325 thousand.

With regard to gold prices in the jewelers’ shops, the price of selling a weight of Gulf 21-carat gold ranges between 370 thousand and 380 thousand dinars, while the selling price ranged from an Iraqi gold weight between 330 thousand and 340 thousand dinars.

It is equal to one mithqal of gold (five grams).    LINK

Iraqi News Sunday Afternoon 8-7-22

Iraqi News Sunday Afternoon 8-7-22

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Al-Kazemi and Al-Hakim discuss developments in the political scene in Iraq

Political | 01:09 - 07/08/2022   Baghdad - Mawazine News, the head of the National State Forces Alliance, Ammar Al-Hakim, received today, Sunday, Prime Minister Mustafa Al-Kazemi, and they discussed the developments of the political, social and service scene.

A statement by the office of the head of the National State Forces Alliance, a copy of which was received by Mawazine News, stated that "Al-Hakim demonstrated during the meeting the importance of keeping the interests of citizens and state institutions away from the differences of political forces," once again referring to "the need to invest the financial abundance resulting from the rise in oil prices in improving the economic and social reality." diversification of sources of income.

He added that "financial abundance is an accidental event that must be invested in reviving projects that end the rentier state," stressing "attention to the electricity sector and working to sustain it so that cases of complete extinction are not repeated in some provinces."

He stressed, "the importance of reforming the political system and combating corruption, and the necessity of using legal methods and the constitution and adopting the principle of consultation among all so that reform enjoys popular and societal support from all walks of life."

In the statement, Al-Hakim called "the government and security services to continue military and security operations to strike terrorism in its strongholds," stressing "the need to maintain relations with neighboring countries and the world, based on the constant national interest and Iraqi sovereignty." Ended 29/M99 https://www.mawazin.net/Details.aspx?jimare=201737

Al-Kazemi's Financial Advisor: The Current Political Crisis Will Not Affect The Country's Economy

Sunday, August 7, 2022 5:02 PM   National News Center / Special  The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Sunday, that the general conditions in the country will not affect the economy, pointing out that the high-return oil industry is the main player in holding the limits set for living life in Iraq and reassuring its divergent concerns.

Saleh said in a statement to the "National News Center", that "despite the presence of two influential restrictions: the absence of the country's general budget law for the year 2022 and the other, it is under widespread immersion in the current political and parliamentary crisis and its negative repercussions on decision-makers, especially the private sector, but that Economic conditions, market decision-making, and the general investors have a stable degree of certainty, even at a minimum level, which is the result of the promising macroeconomic situation, its great potential, and its high financial surpluses prepared for future development.

He added that "this matter helps in narrowing the cases of uncertainty and reducing the risks facing the current investment initiatives and the general economic decisions constantly, especially those decisions whose promising effects extend to the future," noting that "the economic policy must move government investments with the speed and efficiency required that it provides.

The law on financial management of ongoing investment projects, as well as the emergency law for food security and development with regard to moving the stalled projects, which will be addressed by the new law.

He pointed out that "the two financial laws undoubtedly constitute a safety valve in revitalizing the economic cycle and at the same time give market forces (being the main partner in development) an important interactive framework that is more realistic in drawing stable expectations and ensuring the success of investments and future employment opportunities."    https://nnciraq.com/145961/

Al-Sadr: There Is No Alternative To Dissolving Parliament

The leader of the Sadrist movement, Muqtada al-Sadr, affirmed that the dissolution of Parliament has become a popular, political and elitist demand that has no alternative.

Al-Sadr said in a tweet: "Thanks to God and His grace and the efforts of the heroic sit-ins, positive responses came regarding (dissolving Parliament) and a popular and clan response, from academics, civil society institutions, and preachers of the Husseini pulpit, and even from some scholars of the honorable seminary and from some Kurdish, Sunni and even Shiite political leaders as well. ".

Al-Sadr added, "After I thank them, I invite them to take a serious stand to save Iraq from the tusks of corruption and dependency and to correct the course of the political process that harmed the people and the country."

Al-Sadr continued, "So come to a common word and to serious and real actions, and let us stay away from meager dialogues. Iraq needs actions, not words."

He pointed out that "the people yearn for real reform that will save them from the suffering they are in, for which patience is no longer commendable, and let everyone know that the revolutionaries will continue their revolution until the demands are achieved and will not give up at all. O people, proud of oppression, just like Hussein.”

And Al-Sadr said, "Yes, (dissolving Parliament) has become a popular, political and elitist demand that has no alternative, and all the corrupt mouths should be silenced wherever they are, and God is the guardian of success and the supporter of reformers, for God does not like corruption."

https://www.radionawa.com/all-detail.aspx?jimare=30626

Oil Minister: Iraq Is The Only Country Capable Of Producing The Largest Amount Of Crude Oil

The Minister of Oil and Chairman of the National Oil Company, Ihsan Abdul-Jabbar, announced today, Sunday, that Iraq is the only country capable of producing the largest amount of crude oil among the crude oil-producing countries in the coming years, stressing that Iraq has a surplus production at stake to supply the global market, indicating that Iraq It will achieve semi-self-sufficiency in the production of oil derivatives by 2025.

The minister told Al-Sabah newspaper, "Iraq has exceptional capabilities and is almost the only one among the OPEC and non-OPEC producing countries that is able to increase crude oil production in quantities of up to 3.3 million barrels per day record over Iraq's current production in the coming years."

He added, "Iraq has transferred and other projects under referral capable of collecting more than 3,300 million barrels per day by the end of 2028, which will enable it to produce 8 million barrels per day at the end of 2025 in a manner that ensures the achievement of global stability in the energy market."

He pointed out, "The rate of Iraq's export of crude oil through Basra ports was about 3 million and 300 thousand barrels per day."

He explained, "The total for Iraq, which is fixed in the OPEC schedule, after the recent increase, has become around 4 million and 664 thousand barrels per day, compared to Iraq's share in the previous schedule, which was 4 million and 600 thousand barrels per day."

He pointed out, "Iraq has a surplus production at stake, to market the required quantities for the oil market globally," stressing that "there has not been a record drop in the crude export rate, due to problems in the export platforms."

And he indicated, "Iraq achieves its goals in exporting crude oil on a monthly basis according to the announced target," adding: "Sometimes there is a small reduction in export numbers, as usual, that occurs during the work of adding new facilities or during the implementation of periodic maintenance, where it is compensated in a smooth manner after the end of the maintenance programs that It does not exceed a few days, to achieve its export goals."

The minister stated, "Iraq has required reductions due to the export of quantities in previous periods," noting that "Iraq's production currently amounts to 4,400 million barrels from federal fields, of which it consumes up to 200 to produce electric power, while local refineries consume more than 700 thousand barrels per day of its production." The current Kurdistan oil production is 450,000 barrels per day.

He explained, "His ministry is in constant contact with the Ministry of Natural Resources in the region with the aim of finding legal solutions to end the differences between the two parties within the federal constitution, in accordance with the court's decision in lawsuit No.

The Region shall hand over the entire oil production from the oil fields in the Kurdistan Region and other areas from which the Ministry of Natural Resources in the Kurdistan Regional Government has extracted oil and handed it over to the Federal Government represented by the Federal Ministry of Oil and enabling it to use its constitutional powers regarding oil exploration, extraction and export.

And he indicated that "the media exaggeration of the Kurdistan region's oil issue, by the various media outlets, by addressing the news, as if it were an issue of external conflicts, involves great risks and ambiguity aimed at confusion."

He continued, "The federal government deals with the legal discrepancy between the two parties, as one of the normal things that occur between the federal government and local governments."

With regard to importing oil derivatives, the Minister of Oil stressed that "Iraq will enter the stage of semi-self-sufficiency in oil derivatives locally by the end of 2025."

He pointed out, "Our steps to dispense with importing oil derivatives will be on two axes. The first is to enter the Karbala refinery into service in October 2022, which will reduce Iraq's need for gasoline and gasoline by 50%, i.e. from 15 million liters, the amount of daily need, to 7 million. liters, while the second Basra refinery fcc will reduce up to 3 million liters per day, which will help to complete the projects of Baiji north of Baghdad and Diwaniyah in central Iraq, to ​​compensate for the rest of the mentioned needs.

https://www.radionawa.com/all-detail.aspx?jimare=30629

The Central Bank's Prudential Policy To Face The Global Economic Crisis

Samir Al-Nusairi   Economy News-Baghdad   The global economic system has been witnessing complex economic, financial and security crises for several months, the cumulative causes of which were concentrated in the rise in energy and food prices due to the Russian-Ukrainian war and the American and European sanctions on Russia, which led to confusion in the map of global trade in food and energy. What we are following now is the rise in stagflation in most countries of the world, most notably in America and the European Union.

Although Iraq may be benefiting from the rise in oil prices as it is the main resource for the country, and the map of its imports of grain and foodstuffs currently is from outside the area of ​​the military conflict and economic crisis, but our economy must suffer in the short term from the lack of control over food supplies and oil prices may drop and spread Economic stagnation in the light of changing conditions and these effects will inevitably lead to a rise in the rate of inflation and a rise in the general level of prices.

Since economic stability is achieved by stability in the financial system and the monetary system, so the hedging measures by the Central Bank, for what is expected of developments in the coming crises, were to rely mainly on building foreign reserves at a level that covers the local currency in circulation, imports, repayments of foreign debt and other international obligations.

As well as working on diversifying the reserves to include a basket of currencies, gold, bonds and securities, and making the most of the rise in oil prices to increase the reserves to the maximum extent possible until the end of 2022.

And this is actually what the Central Bank has done during this period, as its foreign cash reserves amounted to more than 74 billion dollars and 130 tons of gold. The reserve is expected at the end of 2022 to reach $90 billion.

This confirms that the Central Bank is proceeding at a steady pace to achieve the objectives of monetary policy in reducing inflation and controlling the general level of prices as well as controlling the money supply and maintaining the dinar exchange rate within the target price for the public and following up and analyzing the interest rate set by the Central Bank on an ongoing basis.

This requires the financial policy and the main economic sectors and the ministries responsible for them must work jointly and in clear and specific coordination with the Central Bank administration to achieve economic stability and overcome the global economic crisis and limit its repercussions.

42 . views   Added 08/07/2022 - 1:27 PM   Update 08/07/2022 - 5:13 PM

https://economy-news.net/content.php?id=29196

The International Development Bank Joins The Federation Of Emirates Banks In Dubai

Banks    Economy News-Baghdad   A banking source revealed, on Sunday, that the International Development Bank of Iraq joined the Federation of Emirates Banks in Dubai.

The source told "Economy News" that "the International Development Bank opened a branch in the emirate of Dubai, UAE," noting that "the bank joined the Federation of Emirates Banks."

He added, "The bank will facilitate trade and banking exchange between Iraq and the UAE, as well as provide various banking services and establish activities related to the banking sector between the two countries."

27 . views   Added 08/07/2022 - 1:34 PM  Update 08/07/2022 - 5:22 PM

https://economy-news.net/content.php?id=29197

The Dollar Depreciates Against The Iraqi Dinar

Economie| 10:08 - 07/08/2022   Baghdad - Mawazine News, the dollar exchange rates fell, today, Sunday, on the Iraqi Stock Exchange.

And the selling prices of the dollar were recorded at 148,500 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 148,400 dinars per 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=201719

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