"Tidbits From TNT" Sunday 11-27-2022

TNT:

Tishwash:  An official invitation to Iraq to attend the Arab-Chinese summit

President of the Republic, Abdul Latif Jamal Rashid, today, Sunday, received the invitation of King Salman bin Abdulaziz Al Saud, King of the Kingdom of Saudi Arabia, to attend the Arab-Chinese summit.

The media office of the President of the Republic said in a statement received by Alsumaria News that the latter "received an ambassadorKingdom Saudi ArabiaI have Iraq Abdul Aziz Al-Shammari".

The statement added, "The President of the Republic received the invitation of King Salman bin Abdulaziz Al Saud, King Kingdom Saudi Arabia To attend the Arab-Chinese summit that will be held next month and aims to strengthen Arab-Chinese relations.

And the statement continued, "During the meeting, they discussed the bilateral relations that bind Iraq And Saudi Arabia, where the President of the Republic stressed the need to develop it and expand the horizons of constructive cooperation and positive partnership in a manner that guarantees the supreme interests of the two brotherly peoples.

According to the statement, the president entrusted the Saudi ambassador with his greetings to the Saudi monarch, stressing his interest in making every effort to strengthen brotherly relations and historical friendship between the two countries. Iraq and the Kingdom.   link

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CandyKisses:  General Secretariat: The government is working on a daily basis to complete the country's general budget

The General Secretariat of the Council of Ministers announced today, Sunday, that the government is working on a daily basis to complete the country's budget.

The General Secretariat of the Council of Ministers said in a statement, which Mawazine News received a copy of, that "Deputy Secretary-General of the Council of Ministers, Farhad Nimatullah Hussein, received today the Deputy British Ambassador to Baghdad, Serena Stone, and her accompanying delegation."

The Deputy Secretary-General of the Council of Ministers stressed, "the depth of the historical relations between Iraq and the United Kingdom," pointing out that "there is a long history of fruitful cooperation in many important files between the governments of the two friendly countries."

He continued, "The new government is working seriously and with great interest to implement the government program put forward by Prime Minister Muhammad Shia'a al-Sudani, which included important files, most notably combating corruption, services, investment, fighting terrorism, human rights, and addressing outstanding issues with the Kurdistan Regional Government, and other files." included in the government programme. He added, "The government is working on a daily basis to complete the country's general budget as soon as possible, as well as files for improving basic services and the Iraqi economic situation," noting that "there is an unprecedented interest by the prime minister in the human rights file."

The Deputy Secretary-General stressed "the importance of the return of British companies to help in the reconstruction of Iraq," pointing to "the Iraqi government's keenness to provide support to attract investments and international companies to work in Iraq and create job opportunities for young people."

For her part, Deputy British Ambassador Serena Stone welcomed "the formation of the new government and the Prime Minister's move to appoint an adviser to him for human rights, as he is very important at the local level and the international community," stressing her desire "for the return of British companies to work in Iraq, and to provide support in all its forms and in various fields, especially in the areas of technical support for e-government, and the enactment of some laws are important.” 

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RVAlready:  Hopefully, there have been enough back room meetings already to ensure a majority vote on the budget in parliament. And, hopefully, the CBI is ready to hit the RV button at the earliest possible moment - maybe before the budget is passed.

Ivantulafitov:  Worth more than Elon Musk and Jeff Bezos combined, the Qatari royal family leads a life so decadent that even kings and billionaires can only dream of https://luxurylaunches.com/other_stuff/lifestyle-of-the-qatari-royal-f​amily.php Their $400 million yacht is longer than a football field, they stay in mega palaces, and their private jet is a Boeing 747.

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CandyKisses:  Parliamentary Finance: job grades and confirmation of contracts in the 2023 budget

The Parliamentary Finance Committee expected, on Saturday, to pass the draft federal budget law for the year 2023 in the month of February, while confirming that it will include job grades and confirmation of contracts

Committee member Haitham Al-Zahwan told the official news agency, "The 2023 budget will provide all the needs of the citizen, and it is currently in the preparation stage by the government

He added, "The draft budget, according to the available information, will include, as basic priorities, allocations for the services file, the implementation of strategic projects, job grades, and confirmation of contracts

He continued, "The governorates prepare their own budgets and will be sent to the government for consideration and to determine the share of each governorate in the 2023 budget," expecting "to pass the budget within the House of Representatives next February.

Mot: ... Does Yours Too!!??? ~~~~

Mot: ...... Dearest Family - ~~~~

Mot: .... is it Too late to Be Thankful for! ~~~~

Sunday AM Iraq Economic News Highlights 11-27-22

Sunday AM Iraq Economic News Highlights 11-27-22

Parliamentary Finance: Job Grades And Confirmation Of Contracts In The 2023 Budget

Money and business   Economy News – Baghdad   The Parliamentary Finance Committee expected, on Saturday, to pass the draft federal budget law for the year 2023 in the month of February, while confirming that it will include job grades and confirmation of contracts.

Committee member Haitham Al-Zahwan told the official news agency, "The 2023 budget will provide all the needs of the citizen, and it is currently in the preparation stage by the government."

He added, "The draft budget, according to the available information, will include, as basic priorities, allocations for the services file, the implementation of strategic projects, job grades, and confirmation of contracts."

He continued, "The governorates prepare their own budgets and will be sent to the government for consideration and to determine the share of each governorate in the 2023 budget," expecting "to pass the budget within the House of Representatives next February."

Views 536   Added 11/26/2022 - 6:16 PM   Updated 11/27/2022 - 2:16 PM

https://economy-news.net/content.php?id=31030

Iraq Exported 385,000 Barrels Of Oil Per Day To America Last Week

Energy Economy News-Baghdad  On Sunday, the US Energy Information Administration announced a significant increase in Iraq's oil exports to America, reaching 385,000 barrels per day during the past week.

The administration said in a report, "The average US imports of crude oil during the past week from nine countries amounted to 5.417 million barrels per day, up by 639 thousand barrels per day from the previous week, which amounted to 4.778 million barrels per day."

She added, "Iraq's oil exports to America amounted to an average of 385,000 barrels per day last week, up from the previous week in which oil exports to America amounted to an average of 141,000 barrels per day."

She also indicated that "most of America's oil revenues during the past week came from Canada at a rate of 3.844 million barrels per day, followed by Saudi Arabia at a rate of 685 thousand barrels per day, and oil revenues from Mexico amounted to an average of 495 thousand barrels per day, and then Brazil at a rate of 251 thousand barrels per day." .

According to the administration, “the amount of US imports of crude oil from Colombia amounted to an average of 170,000 barrels per day, from Nigeria at a rate of 43,000 barrels per day, from Ecuador at a rate of 42,000 barrels per day, and from Libya at a rate of 2,000 barrels per day, while it did not import any quantity from Russia.” Views 128   Added 11/27/2022 - 9:07 AM   Updated 11/27/2022 - 2:22 PM

https://economy-news.net/content.php?id=31033

Oil Has Set A Date For Receiving New Tankers With A Tonnage Of 31,000 Tons

Energy   Economy News-Baghdad  Today, Sunday, the Iraqi Oil Tankers Company affiliated with the Ministry of Oil has set the date for receiving new tankers with a tonnage of 31,000 tons.

The company's general manager, Ali Qais, told the Iraqi News Agency (INA), that "Deputy Prime Minister for Energy Affairs, Minister of Oil Hayyan Abdul-Ghani, affirmed his full support for the company, and the need to prepare an integrated plan to increase the company's fleet numbers, by owning tankers of different sizes."

He pointed out, "The company now owns four tankers, in addition to that there is a contract to build new tankers, which will be received at the beginning of next year, and they have a tonnage of 31,000 tons."

And Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani confirmed, earlier, that Iraq will launch a new oil tanker early next year.

Last September, the Ministry of Oil announced the construction of three marine tankers with advanced technologies, equipment and devices. Views 77   Added 11/27/2022 - 12:39 PM  Updated 11/27/2022 - 2:28 PM    https://economy-news.net/content.php?id=31038

Iraq Produces 11% Of OPEC + Oil.. And A Price Of $95 Per Barrel Is Expected

Posted On2022-11-27 By Sotaliraq    Reducing Iraqi oil production    The Iraqi Oil Company “SOMO” said, on Saturday, that the country produces 11% of the 43 million barrels produced by the “OPEC +” member states per day.

This came in a statement made by the deputy general manager of the company, representative of Iraq in OPEC Saadoun Mohsen, to Al-Iraqiya news channel, according to the official Iraqi News Agency.

Mohsen praised the “OPEC +” decision to reduce production by two million barrels per day, considering that it “had an important role in stabilizing global markets, and the reduction included all countries at varying rates and according to the amount of their production.”

He explained that the decision "did not reduce Iraq's oil exports, but rather reduced domestic production and invested in rising prices by stabilizing the export rate, a strategy that succeeded in achieving high financial revenues."

He added, "OPEC Plus produces 43 million barrels per day, and the percentage of what Iraq produces is 11% of it, and therefore it is the same percentage of reduction by the decision to reduce production by two million barrels."

And he pointed out that any “future decision regarding maintaining the current reduction, adding a new reduction, or increasing the quantities produced will take into account the market situation and aim to create balance,” pointing to “a meeting of the OPEC Plus group on December 3 and 4, which will study the current situation and issue balanced decisions.”

Arab economy

The “green paper” challenges Iraqi oil: developing agriculture and diversifying the economy

And it is likely that “the prices will range in the next year between 85 and 95 dollars (per barrel) at the very least, and perhaps less than 5-7 dollars as a minimum.”

On October 5, the Saudi-led “OPEC +” coalition announced a production cut of two million barrels per day, starting in November 2022, but the decision faced anger from Western countries, led by the United States.

The frequency of the monthly meetings of the “OPEC +” alliance was modified to become every two months for the Joint Ministerial Monitoring Committee, while cooperation within the alliance was extended until the end of 2023 instead of the end of this year.    Anatolia)    LINK

Iraq's Oil Exports To America Increased Within A Week

Economie| 09:26 - 11/27/2022   Follow-up - Mawazine News   The US Energy Information Administration announced, on Sunday, a significant increase in Iraq's oil exports to America, to reach 385 thousand barrels per day during the past week.

The administration said in a report, "The average US imports of crude oil during the past week from nine countries amounted to 5.417 million barrels per day, up by 639 thousand barrels per day from the previous week, which amounted to 4.778 million barrels per day."

She added, "Iraq's oil exports to America amounted to an average of 385,000 barrels per day last week, up from the previous week in which oil exports to America amounted to an average of 141,000 barrels per day."

She also indicated that "most of America's oil revenues during the past week came from Canada at a rate of 3.844 million barrels per day, followed by Saudi Arabia at a rate of 685 thousand barrels per day, and oil revenues from Mexico amounted to an average of 495 thousand barrels per day, and then Brazil at a rate of 251 thousand barrels per day."

According to the administration, “the amount of US imports of crude oil from Colombia amounted to an average of 170,000 barrels per day, from Nigeria at a rate of 43,000 barrels per day, from Ecuador at a rate of 42,000 barrels per day, and from Libya at a rate of 2,000 barrels per day, while it did not import any quantity from Russia.”    https://www.mawazin.net/Details.aspx?jimare=212507

The High Exchange Rates Of The Dollar In The Iraqi Markets Today

Economie  2022-11-27 | quarter to two   4,437 views Alsumaria News – Economy Alsumaria News publishes, today, Sunday, the exchange rates of the dollar in the Iraqi markets.   The dollar exchange rate rose on the local stock exchange.

The selling price of the dollar was recorded at 148,950 dinars per 100 dollars, while the buying price of the dollar was 148,850 dinars per 100 dollars.

It is noteworthy that, on December 19, 2020, the Central Bank of Iraq  officially announced the adjustment of the exchange rate of the US dollar to be 145 thousand dinars for every 100 dollars, according to the state’s general budget for the year 2021 approved by Parliament.  LINK

SOMO Sets The Expected Oil Prices And Confirms: The OPEC Plus Decision Did Not Reduce Iraq's Exports

Economie| 09:39 - 11/26/2022   Baghdad - Mawazine News  The National Oil Marketing Company (SOMO) confirmed today, Saturday, that the OPEC Plus decision to cut production did not reduce Iraq's oil exports, and while it talked about the next meeting of the group and expectations regarding it, it suggested that prices next year would be between 85-95 dollars. at least.

The company's assistant general manager and representative of Iraq in OPEC, Saadoun Mohsen, said, "The OPEC Plus decision to reduce production by two million barrels per day had an important role in stabilizing global markets, and the reduction included all countries at varying rates and according to the amount of their production."

He added, "OPEC Plus produces 43 million barrels per day, and the proportion of what Iraq produces is 11% of it, and therefore it is the same percentage of reduction by the decision to reduce production by two million barrels."

He pointed out that "Iraq did not reduce its exports according to this reduction, but rather reduced domestic production and invested in high prices by stabilizing the export rate, a strategy that succeeded in achieving high financial revenues."

He continued, "The OPEC Plus group meets every two months to assess the global market in terms of supply and demand, and there are severe fluctuations due to the repercussions of the Corona pandemic, the slowdown in the global economy, and the Russian-Ukrainian war, which added burdens to price stability."

He pointed out that any "future decision regarding maintaining the current reduction or adding a new reduction or increasing the quantities produced will take into account the market situation and aim to create balance, and there will be a meeting on December 3-4 next that will study the current situation and issue balanced decisions."

Regarding expectations for oil prices next year, Mohsen said, "The average price this year reached $97 per barrel, which is a good price. According to experts' estimates, next year's prices will be between $85-95 and maybe less than $5-7 as a minimum." https://www.mawazin.net/Details.aspx?jimare=212492

Some " International News" Posted by Samson at KTFA Sunday 11-27-2022

KTFA:

Note: After 6.5 years of posting the news at KTFA….Today will be Samson’s last day.   Thank you very much Samson for all your hard work and dedication. You will be missed at KTFA and by everyone in Dinarland. Good Luck and God Bless.

Samson:  Al-Araji: The Prime Minister will visit Tehran the day after tomorrow, Tuesday, to discuss several files

11/27/2022 12:17:04

The Iraqi National Security Adviser, Qassem Al-Araji, announced that Prime Minister Muhammad Shia Al-Sudani will visit Iran next Tuesday.

Al-Araji said in a press statement that Al-Sudani will discuss during the visit "several files, including the bombing of the Kurdistan region."

The media office of the Prime Minister announced yesterday that Al-Sudani received Tehran's ambassador to Iraq, Muhammad Kazem Al Sadiq, who conveyed to him the invitation of the Iranian president to visit Tehran.  LINK

Samson:  The Iranian Parliament ratifies Tehran's accession to the Shanghai Cooperation Organization

27th November, 2022
Today, Sunday, the Iranian parliament voted in favor of a bill submitted by the government for Tehran's accession to the Shanghai Cooperation Organization.

The Iranian news agency Mehr reported that full membership in the Shanghai Cooperation Organization would allow for the strengthening of economic and trade cooperation with the Eurasian Economic Union, which would help Iran mitigate the impact of the economic sanctions imposed on it.

She pointed out the importance of this step in view of the international and regional standing of the organization, especially in light of the current developments on the regional and international arenas, the most important of which is the increasing intensity of competition between the United States on the one hand, and China and Russia on the other.

During the meeting held in the Tajik capital, Dushanbe, on September 18, 2021, the members of the Shanghai Cooperation Organization agreed to grant Iran full membership in the organization, after it had enjoyed an observer status for many years.  LINK

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Samson:  Al-Hakim outlines the "shortest way" to restore public confidence in the political system

11/27/2022 13:26:03

The head of the National State Forces Alliance, Mr. Al-Hakim, identified the "shortest way" to restore public confidence in the political system.

A statement from his office, of which {Euphrates News} received a copy, stated that Mr. Al-Hakim "received the head of the Azm Muthanna al-Samarrai coalition, in the presence of Khaled al-Obaidi, and during the meeting he reiterated the importance of supporting the government in its service paths and restoring public confidence in the political system," noting that "providing services represents the shortest way to achieve this goal." 

He called for "greater integration between ministries and local governments, achieving political balance and paying attention to liberated and disadvantaged cities."

Al-Hakim stressed "the importance of supporting the government, strengthening its success factors, and continuing Iraq's openness to its regional and international surroundings."   LINK

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Samson:  Al-Sudani receives the commander of the NATO mission in Iraq

27th November, 2022

The Prime Minister, Commander-in-Chief of the Armed Forces, Muhammad Shia' Al-Sudani, received the commander of the North Atlantic Treaty Organization (NATO) mission in Iraq, Lieutenant General Giovanni Iannucci, and his accompanying delegation.

The media office of the Prime Minister stated: "The meeting reviewed the tasks of the mission, within the framework of security and military cooperation with Iraq, which includes providing advice and training, developing the capabilities of the Iraqi security forces, raising the level of their performance, and enabling them to face various security challenges, foremost of which is the fight against terrorism." 

During the meeting, Al-Sudani stressed the importance of cooperation and high coordination with the mission, as required by the national need, and within the framework of the requirements of the Iraqi government, and in a manner that preserves Iraq's sovereignty and enhances its security and stability.

For his part, Iannucci confirmed that the NATO mission in Iraq continues its cooperation and coordination with the various security services, within the scope of its tasks and duties, in developing the security sector in Iraq. LINK

Samson:  The President of the Republic: The government program needs everyone's cooperation to fight corruption

11/27/2022 15:02:58

The President of the Republic, Abd al-Latif Jamal Rashid, affirmed that the government program needs everyone's cooperation and coordination together in order to combat administrative and financial corruption.

A presidential statement stated that Rasheed received today, Sunday, at the Baghdad Palace, the head of the Office of Financial Supervision, Rafel Yassin Khudair.

The President of the Republic pointed out, "This requires seriousness in choosing the necessary mechanisms to achieve the desired goals and ensure that the citizens' aspirations are fulfilled."

Rashid stressed, "The need to support the oversight institutions in the country to ensure the progress of their work and avoid the obstacles they face, so that these institutions can perform their tasks and achieve their goals."   LINK

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Samson: Move to build 20 dams in northern Iraq

27th November, 2022

Today, Sunday, the local government in Erbil Governorate revealed a move to build 20 dams in the east of the governorate, to prevent floods and recharge groundwater

The deputy administrative governor of Erbil, Hemin Qadir, said in a statement followed by "Al-Ghad Press", that "the areas located east of Erbil governorate include small hills and mountains, and small dams can be built on them through the Irrigation Directorate and the Ministry of Agriculture in Kurdistan," adding that "these dams, which number 20 Dam, it will be smaller than its large counterpart built with concrete, and an amount of eight billion dinars has been allocated for its construction

And he indicated that "the benefit of these dams for the province is represented in preventing floods from occurring in the province's neighborhoods, as they happen every year, in addition to protecting the valleys and roads inhabited by many citizens within the districts and districts of eastern Erbil, in addition to benefiting from them in feeding groundwater and for the purposes of agriculture, watering livestock and breeding." fish, as it will become a water and earthen reservoir, as well as maintaining a constant water level throughout the months of the year,” noting that “the small lakes formed behind the dams can be used to develop the tourism sector in the region  LINK

Iraqi News Highlights Saturday Afternoon 11-26-22

Iraqi News Highlights Saturday Afternoon 11-26-22

Tlm724 Administrator Bondlady’s Corner

The Decline Of The Dollar In The Local Markets

Economie| 11:04 - 11/26/2022   Baghdad - Mawazine News  Today, Saturday, the exchange rates of the dollar witnessed a slight decrease in the local markets.

The selling price of the dollar was recorded at 148,850 dinars per 100 dollars, while the buying price of the dollar was 148,750 dinars per 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=212432

The Iraq Money Recovery Fund Announces A Proposal To Return Funds From Abroad

Posted On2022-11-26 By Sotaliraq   The Money Recovery Fund in Iraq announced, on Sunday, a new proposal to return funds from abroad, and while determining the value of the informant’s reward from the recovered money, it revealed in numbers the funds recovered in four countries during the recent period.

The deputy chairman of the fund’s board of directors, Moataz Al-Abbasi, said in a press interview, “The Iraq Money Recovery Fund was established according to Iraq Money Recovery Fund Law No. (9) of 2012, which was amended according to Law No. (7) of 2019, and approved by the Council of Ministers.”

Representatives,” indicating that “the most important goals that the fund aims to reach are: recovering all the financial rights of the Republic of Iraq that others (Iraqis and foreigners) obtained illegally, as a result of misuse of the oil-for-food program, blockade, smuggling, economic sabotage or Taking advantage of the sanctions imposed on Iraq at the time; To achieve financial gains at the expense of the Iraqi people, and to receive any compensation due to the Republic of Iraq as a result of any legitimate and recognized decision.

And he continued, “The fund’s board of directors may seek the assistance of specialists from inside and outside Iraq who it deems appropriate to accomplish tasks, contract with them and determine the rewards that are granted to them. ‘

To carry out the tasks entrusted to him, in addition to filing civil and penal lawsuits inside or outside Iraq against natural and legal persons, appointing lawyers from inside or outside Iraq, and paying in installments the amounts agreed upon to be recovered in no more than four installments within a period not exceeding (6) six months from The date of the agreement in exchange for guarantees, and the opening of one or more closed accounts in banks inside or outside Iraq in the name of the Ministry of Finance, to deposit the revenues obtained by the fund, but mostly the fund relies on self-efforts and the available expertise that led to the completion of many files.

He referred to “efforts to conclude international agreements with countries or regional and international organizations in the matter of achieving the fund’s goals and overcoming difficulties, especially legal ones,” explaining that “if this is not possible, the government can be obligated when it concludes investment or economic agreements with any country that has funds for Iraq covered by provisions.” This law requires concluding agreements with those countries to recover those funds, and this is what was stipulated in Law No. (9 of 2012), which was expressly amended by Article No. (14) of the aforementioned law.”

He pointed out that the fund has the authority to exempt its collaborators from the amounts owed by them at a rate of (25%) and up to (5) million dollars of the recovered money as a maximum, and the approval of the Council of Ministers is obtained for more than that, explaining that “the board of directors grants a reward to the informant at a rate of (10%) ) provided that it does not exceed (5) million dollars of the recovered money, but in the case of multiple informants, the rewards are distributed in specific proportions to each of them, and according to the role of each of them in recovering the money.

Regarding the connection of the Iraq Money Recovery Fund to the judiciary and the Integrity Commission, Al-Abbasi stated, “The Judicial Council assigns a judge of the first class to consider cases that are related to the tasks of the Fund.

The Director General of the Recovery Department in the Commission, as stipulated in the Fund’s law in Article (3 / First and Second)”, indicating that “the Fund supports the Integrity Commission with the information available to it and which it obtains during the performance of its tasks and duties, in order to recover the funds of Iraq that were smuggled due to corruption After the year 2003.

He added, “The fund was able to achieve important and tangible achievements in the past short period, including the fund’s recovery of (160,000,000) million US dollars from Switzerland, (20,495,415) US dollars from Germany, and (5,447,473) US dollars from Germany as well, and (11,915,440). ) euros from Spain, and (65,102) thousand US dollars from Jordan, in addition to the presence of files in the process of completion, including: more than (185,000,000) million US dollars, in addition to settling claims on Iraq and the last of them with Jordan, as debts were extinguished in the amount of ( 750,000) thousand US dollars, while the fund’s negotiations with the collaborators are in full swing, and we will disclose the results as soon as the desired goal is reached.  LINK

In The Document... A Deputy Reveals That The Ministry Of Finance Confirmed The Theft Of (3.7) Trillion Dinars From The Tax Account

Friday 25 November 2022 23:04 | Economical Number of readings: 612

Basra / NINA /- Member of the Parliamentary Integrity Committee, Representative, Engineer Ahmed Taha Al-Rubaie, revealed that the Ministry of Finance confirmed that the amounts stolen from the trusts account belonging to the Tax Authority in the Rafidain Bank amounted to (3.7) trillion dinars.

Al-Rubaie said in a statement: "The ministry indicated, in its address to our office, a detailed report on the amounts and the parties responsible for disbursing these amounts."

He added, "For oversight purposes, we have addressed the Ministry of Finance more than once to clarify the stolen amounts, the parties behind them, and the ministry's procedures for exposing the thieves of public money.

" The administrative and judicial investigation, confirming at the same time his communication with the judicial and oversight authorities to follow up the details of the issue until the money is recovered and the corrupt are held accountable./ End https://ninanews.com/Website/News/Details?key=1016400

Mustafa Sanad: The Central Bank's Dollar Sales Collapsed By Half During The Current Month

Saturday 26 November 2022 12:14 | Economical Number of readings: 485   Baghdad / NINA / - A member of the Parliamentary Finance Committee, Mustafa Sanad, revealed the collapse of the Central Bank's dollar sales by half during the current month.

Sanad said in a tweet on Twitter: “The central bank’s sales of dollars during the year 2022, inside and outside Iraq, it is noted that sales collapsed by half during the current month, due to the exclusion of the Middle East, Al-Ansari, Al-Qabid and Asia banks.”

https://ninanews.com/Website/News/Details?key=1016461

Sarmad Al-Bayati: Eliminating Grand Corruption Is Difficult In The Near Future

Saturday 26 November 2022 09:30 | political Number of readings: 351

Baghdad / NINA / - The security expert, Sarmad Al-Bayati, stressed the difficulty of eliminating grand corruption in the near future.

Al-Bayati said in a statement to the Iraqi National News Agency / NINA /: "The large files of corruption need evidence and flagrante delicto, and therefore all that is currently published in this regard is nothing but a well-known media whirlwind."

In this regard, he pointed out: "The judiciary arrested businessman Ali Ghulam earlier on charges in accordance with Article 456, which is fraud and bailable, and this happened hours after his arrest because there was no evidence of large corruption files against him, and this applies to the accused." Zia al-Musawi, too.

Al-Bayati explained: "The so-called (theft of the century) related to tax deposits of 2.5 billion dollars is nothing but an administrative error, and is not theft in the explicit sense."

He pointed out: "The judiciary and the security services rely on flagrante delicto and identification papers to decide corruption cases, and not through the media, and therefore here there is the difficulty of proof."/   https://ninanews.com/Website/News/Details?Key=1016425

Al-Sudani Stresses The Need To Complete The Draft Budget Law And Submit It To Parliament

Money and business   Economy News-Baghdad   Today, Saturday, the Prime Minister, Muhammad Shia'a Al-Sudani, stressed the need to complete the budget bill as quickly as possible and submit it to the House of Representatives, in order for it to enter into force without delay.

A statement by the Prime Minister's Media Office stated, "Prime Minister Muhammad Shia' al-Sudani chaired a meeting devoted to discussing the draft federal budget law for the year 2023."

Al-Sudani stressed "the need to complete the draft budget law as quickly as possible, and to submit it to the House of Representatives, so that it can enter into force without delay."

Al-Sudani stressed that "the law targets, in its allocations, the priorities adopted by the ministerial platform, which are combating unemployment, reducing poverty rates, combating corruption, improving services, as well as reforming the economy."

Al-Sudani directed that "the draft law takes into account the importance of presenting infrastructure projects over other projects, in order to create an appropriate environment in the internal economy to achieve the adoption of the ministerial curriculum, provide service and make a difference that the citizen touches, in the service sector and other economic sectors."

Views 148   Added 11/26/2022 - 1:07 PM   Updated 11/26/2022 - 7:15 PM

https://economy-news.net/content.php?id=31023

Agriculture Reveals A Proposal To Put A Customs Tariff On Imported Materials

Economie| 11:37 - 11/26/2022   Baghdad - Mawazine News   The Ministry of Agriculture confirmed, on Saturday, the government's intention to support the local product, activate the law to protect it, and limit dumping the market with imported materials, while it revealed proposals to set a customs tariff on imported materials.

Agriculture spokesman Hamid al-Nayef said, in an interview with the official news agency, which was followed by Mawazine News, that "there are previous decisions taken, including opening the door to imports, and they affected the local product and the productivity of farmers and farmers."

He added, "Prime Minister Muhammad Shia'a al-Sudani has a tendency to protect the local product by activating the local product protection law, which limits the process of dumping the market," noting that "there is a plan for the Ministry of Agriculture with the Council of Ministers, to reconsider all previous measures, to protect The local product and lower prices, because one of the ministry's tasks is to protect the local product on the one hand and protect the consumer on the other hand.

He stressed "the necessity of reviewing and reconsidering all previous decisions in a way that leads to achieving a reasonable price balance for the farmer as well as the citizen, with the need to go to manufacturing industries, protect the local product and expand agriculture in order to be able to reduce prices and generate manufacturing industries such as paste, dates and other products."

He pointed out that "there are requests by the Minister of Agriculture to restore the agricultural calendar and set the customs tariff that is close to approval, which leads to making the price of the importer and the local product close to some extent, and thus the farmer's work flourishes and he is able to cultivate and the local product flourishes and then reach the coverage of local production." and consumer.” Ended    https://www.mawazin.net/Details.aspx?jimare=212434

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

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"Tidbits From TNT" Saturday Morning 11-26-2022

TNT:

Tishwash:  Mustafa Sanad: The central bank's dollar sales collapsed by half during the current month

A member of the Parliamentary Finance Committee, Mustafa Sanad, revealed the collapse of the Central Bank's dollar sales by half during the current month.

Sanad said in a tweet on Twitter: “The central bank’s sales of dollars during the year 2022, inside and outside Iraq, it is noted that sales collapsed by half during the current month, due to the exclusion of the Middle East, Al-Ansari, Al-Qabid and Asian banks.  link

Tishwash:  Iraq moves to buy air defense systems... Sovereignty is a red line!

The Parliamentary Security and Defense Committee confirmed today, Saturday, the existence of a real movement for Iraq to purchase air defense systems from different countries during the next stage.

Committee member Karim Aliwi told Earth News Agency, "The Iraqi government has a real intention to purchase air defense systems from different countries during the next stage, and a contract was signed with France during the next stage, and a batch of those systems was received, and the coming days will witness the receipt of a new batch." .

Olewi stated, "Iraq is genuinely seeking to purchase air defense systems in order to preserve Iraq's sovereignty, as this sovereignty is a red line, and it cannot be tolerated more about its violation by any party, especially since the United States of America has worked over the past years to prevent Iraq from possessing any air defense systems." So that it remains in control of the Iraqi airspace.  link

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CandyKisses:  Al-Sudani stresses the need to complete the draft budget law as quickly as possible

Today, Saturday, Prime Minister Muhammad Shia Al-Sudani chaired a meeting dedicated to discussing the draft federal budget law for the year 2023.

Al-Sudani stressed, according to an official statement, of which {Euphrates News} received a copy, "the necessity of completing the budget bill as quickly as possible, and submitting it to the House of Representatives, so that it enters into force without delay."

Al-Sudani stressed that "the law targets, in its allocations, the priorities adopted by the ministerial platform, which are combating unemployment, reducing poverty rates, combating corruption, improving services, as well as reforming the economy."

And he directed that "the draft law takes into account the importance of presenting infrastructure projects over other projects, in order to create the appropriate environment in the internal economy to achieve the adoption of the ministerial curriculum, and to provide service and make a difference that the citizen touches, in the service sector and other economic sectors."

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Tishwash:  Sudani receives an official invitation to visit Iran

Today, Saturday, Prime Minister Muhammad Shia al-Sudani received an official invitation from Iranian President Ibrahim Raisi to visit Tehran. 

A statement by Al-Sudani's office, received by (Baghdad Today), stated that "Al-Sudani received the Iranian ambassador to Iraq, Muhammad Kazem Al Sadiq, and the latter conveyed Iranian President Ibrahim Raisi's invitation to the Prime Minister regarding a visit to the Islamic Republic. The meeting also witnessed discussions of the overall bilateral relations between the two countries . "

He added, "The meeting discussed a number of common files, in the economic and investment aspect, and it was also emphasized that the meetings between Iraq and Iran will continue in the security file, in a way that preserves the sovereignty of the two countries, achieves the interests of the two friendly peoples, and consolidates the security and stability of the region."

It is noteworthy that Baghdad and Tehran are conducting ongoing talks to resolve the crisis of the Iranian bombing of the areas of presence of parties opposing Iran in the Kurdistan region.  

And a senior security source had revealed, last Wednesday, to (Baghdad Today) that a higher committee to assess the border security file with Iran had arrived at the border strip between the two countries in Diyala, and conducted a comprehensive assessment that carried 3 important messages: preventing the existence of any voids and addressing the smuggling file that constitutes A real danger from within, in addition to making fundamental changes in accordance with the new government's policy in supporting changes that contribute to correcting the course of security work, in particular .

The focus on the eastern border of Iraq comes in conjunction with the tense situation in the areas close to the border within the Kurdistan Region and the repeated Iranian strikes on Kurdish areas to pursue and target the Iranian Kurdish opposition parties present in the territory of the Kurdistan Region of Iraq .

The Iranian side threatened Iraq earlier with a "land invasion" in the event that the Iraqi government did not intervene to expel the Iranian opposition parties present in the region, which Iraq is "incapable of", according to what international reports say   link

Mot~~ Nooooooo Idea What to Say Here!! ~~~ in 3.... 2 ....

Mot: ... Aaaaaaaahhhhhhhhhhhhhhhhhhh 

Saturday Morning Iraq Parliament News Highlights 11-26-22

Saturday Morning Iraq Parliament News Highlights 11-26-22

An American Vision Criticizes The Demands To Change The Iraqi Regime: Apply The Constitution First

2022-11-24 07:59   Shafaq News/ The American "Washington Institute" criticized the Iraqi calls to "change" the political system and amend the constitution in order to convert it into a presidential system, wondering if the existing parliamentary system is really the reason for the failure of Iraq's stability.

In a report seen by Shafaq News agency, the American Institute considered that what is happening now in Iraq as a political system has nothing to do with the system defined by the 2005 constitution, but what is a "parallel state and system" established by sectarian political parties, to comply with their interests.

The Peg Of The Parliamentary System

He pointed out that since the vote on the Iraqi constitution in 2005, many were quick to blame the "ineffective" parliamentary system for being the reason behind all the crises that Iraq is going through, adding that these criticisms emerged recently after supporters of the Sadrist movement stormed the parliament building and sat in it, demanding Muqtada al-Sadr to change the constitution and the political system.

The report added that this call was followed by similar statements and positions from many forces, including the League of the Righteous, led by Qais Khazali, which renewed talk about the necessity of adopting the presidential system, describing this system as "appropriate for Iraq." The former deputy leader in the movement, Naim al-Aboudi, Minister of Higher Education, said And the current scientific research in his post, "The reform of the political system has become a more urgent demand than ever before."

He explained that the call for the formation of a presidential or semi-presidential system in Iraq is not unique, as it was previously launched by Sheikh Qais Khazali in 2012, and the “Emtidad” movement emanating from the popular youth movement in 2019 called for changing the system of government in Iraq from parliamentary to Presidential or semi-presidential to get out of the current political crisis plaguing the country.

The "Extension" movement said in a statement that one of the most important principles adopted by the movement since its founding is: amending the constitution and changing the form of the regime to a presidential or semi-presidential one. By the people directly, it can end the quota system, which has become obstructing any reform movement in Iraq.

A Strange Paradox

However, the American report considered that the strange irony in this matter is that the two conflicting parties in Iraq see that the regime is the cause of government failure in Iraq.

He pointed out that although the existing 2005 constitution included many chapters, including basic principles, the form of the state, the government, public and political rights and freedoms, freedom of society, intellectual freedoms, the three federal authorities and independent bodies, and the authorities of the regions and governorates, there are figures such as Khazali who believe that The main reason behind the failure of political parties is the system, not the performance of the parties. Khazali is also convinced of the right of the Shiites to monopolize power, as they are the largest component in the country.

He added that when analyzing politics in Iraq in the post-2003 era, observers must ask themselves: Is the parliamentary system really the reason for the failure of Iraq's stability?

System And Parallel State

The report added that the follower of Iraqi affairs and the political process there after the events of 2003 and the fall of the previous regime will realize that what is being dealt with as a political regime in Iraq is not the regime that determined the constitution of Iraq for the year 2005, because what exists today is a system and a parallel state, where sectarian political parties worked To produce a system compatible with their interests away from the interests of the people, which is what made the Iraqi constitution a marginal thing and a set of formal procedures and nothing more.

In addition, the report stated that the political customs and "traditions" established by the various political forces in Iraq go beyond those constitutional procedures in order to keep the elite in power.

He pointed out that since the establishment of the constitution and the vote on it, the political forces preferred to follow other paths far from what was determined by the constitution, but rather adhered to the laws of previous authoritarian regimes.

Actual Parallel System

The Washington Institute stated that the deterioration of the constitutional structure in Iraq and the political parties' marginalization of the main laws has become a matter of particular concern, especially after some political parties worked to marginalize the constitution and its complementary laws such as the Oil and Gas Law (Article 110) and the Border Crossings Management Law and dozens of others. From other articles in order to guarantee their interests and their position in power.

Administrative Chaos

The report considered that this led to the creation of administrative chaos in the country and the creation of long-term crises and disputes between the federal government and the Kurdistan Region on how to manage and its imports.

The report pointed to the failure of Iraqi political parties to abide by important constitutional conditions such as Article 38 of the constitution, which emphasized basic freedoms such as freedom of expression, freedom of peaceful assembly, and peaceful demonstration.

He added that the existing political parties preferred the dictatorial legacy over the new constitution and did not work to legislate laws related to those rights, but instead adhered to dictatorial laws such as Article 228 of the Iraqi Penal Code of 1969, which would silence mouths and undermine freedom of expression.

"Distorted State"

Political parties have also worked to produce a "distorted" federal state through the judiciary. Instead of acting as an unbiased mediator between parties and federal entities, the federal court system has become a mere extension of party interests and corrupting sectarian dynamics.

The report said that after the constitution was manipulated by political parties, the judiciary began to interpret the articles of the constitution according to its interests.

The report cited examples of this, such as the judiciary’s interpretation of Article 73 related to the concept of the “largest bloc.” This concept had previously sparked a major dispute in the 2010 parliamentary elections between the first winning bloc, the Iraqi bloc affiliated with Iyad Allawi (91 seats), and the second winning bloc, the Iyad Allawi bloc. State of Law for Nuri al-Maliki (89 seats), although Allawi got the most seats, the Federal Court, under pressure from al-Maliki, interpreted the largest bloc as the bloc that is formed in Parliament, and al-Maliki formed the government at the time, and won a second term, which led to a change of course democracy in the country and harm it.

Dismantle The Parallel System

The report concluded by saying that although the constitution was not given a real opportunity to be applied on the ground, the government still has an opportunity to achieve greater success in this regard through careful application of the constitution and sincere commitment to its provisions, and work to cancel the radical amendments that occurred in the political system.

He continued, saying that although the demand for the formation of a presidential system may be a realistic demand in light of the current Iraqi context, it is important to understand that the 2005 constitution has not been tested yet, and there is certainly no justification for politicians and activists to call for its abolition.

The report concluded by saying that the current system is "a system and a parallel state, one of which was produced by the parties and manipulated over the years away from the law and according to their interests."

He added that while the parties blamed the government structure, the authorities did not move a finger, but sought partisan and personal gains at the expense of the dignity of their country and citizens.

The report called on all competent authorities, such as the Federal Supreme Court and Parliament, to work to dismantle the parallel system while preserving the Iraqi constitution itself and keeping it away from the whims and narrow interests of sectarian party politics.    LINK

With Iraqi Participation.. The Launch Of The Work Of The Plenary Session Of The Arab Parliament

Policy   2022-11-26 | 03:36  492 views   Today, Saturday, the work of the plenary session of the Arab Parliament kicked off, with the participation of a delegation from the Iraqi Parliament.

And the media department of the House of Representatives stated in a statement received by  Alsumaria News  The work of the plenary session of the Arab Parliament started with the participation of a delegation  Iraqi Parliament  Which includes both MP  Hanan Al-Fatlawy and deputy Ahmed Abdullah Al-Jubouri and deputy  Nazem Al-Shablawi ".

Yesterday, the body heldDeskArab Parliament, bCairo, the business of its meeting chaired Adel bin Abdul Rahman Al-Asoumi President of the Arab Parliament and in the presence of members of the CommissionDeskThe Arab Parliament, in order to prepare for the work of the second session of the third session of the third legislative term, which was held today, Saturday   LINK

Sudanese Receive An Official Invitation To Visit Iran

Policy  2022-11-26 | 05:43   153 views  Alsumaria News – Politics Today, Saturday, the Prime Minister, Muhammad Shia'a al-Sudani, received an official invitation to visit Iran during his meeting with Tehran's ambassador in Baghdad.

The media office of the Prime Minister said in a statement received by Alsumaria News, "Al-Sudani received, today, Saturday, the Ambassador of the Islamic Republic of Iran to Iraq, Muhammad Kazem Al Sadiq."

He added, "The ambassador conveyed the invitation of Iranian President Ibrahim Raisi to Al-Sudani to visit the Islamic Republic of Iran," noting that "the meeting witnessed discussions of the overall bilateral relations between the two countries."

The statement indicated, "The meeting dealt with discussing a number of joint files, in the economic and investment aspect, and it was also emphasized that the meetings between Iraq and Iran will continue in the security file, in a manner that preserves the sovereignty of the two countries, achieves the interests of the two friendly peoples, and consolidates the security and stability of the region."  LINK

Nassif Reveals To "Mawazine" A Major Theft Of "Iraqi Politicians" Money

Political | 01:38 - 11/26/2022  Special - Mawazine News, a member of the Parliamentary Integrity Committee, Alia Nassif, revealed today, Saturday, a second type of theft, which is related to politicians' money.

Nassif said, in an exclusive interview with Mawazine News, that "most of the politicians' money was placed in Beirut's banks, and because of the bankruptcy of Lebanon, the banks also went bankrupt, which prompted the owners of the money to establish a transfer entry from the Lebanese Bank to the Rashid or Al-Rafidian Bank."

And she added, "They are filing a lawsuit against Al-Rasheed Bank or Al-Rafidain Bank to obtain that money, which led to the banks' attention to those movements," indicating that one of them was in the amount of one million 250 thousand dollars and the other two million and 250 thousand dollars, which the judiciary noticed and stopped the procedures and lawsuits, and some were arrested. Those involved and the file under investigation.”

She pointed out that “the defendants held high positions, “Minister of Foreign Affairs and head of a security apparatus,” which amounted to 6 billion dinars.

https://www.mawazin.net/Details.aspx?jimare=212446

Patriotic Kurdistan: Our Problems With The Democratic Party Are Greater Than The Ministerial Portfolios

Political | 10:43 - 11/26/2022   Special - Mawazine News   The Patriotic Union of Kurdistan confirmed, on Saturday, that there is no understanding between the Democratic Party and the Union on the environmental, construction and housing portfolios in the Sudanese government.

The leader of the Union, Sherzad Samad, said, in an interview with Mawazine News, that "Pavel Talabani visited Baghdad last week and met the leaders of the political blocs, and they discussed a number of issues, including the two ministries."

He added, "These discussions did not result in anything because the Democratic Party also visited Baghdad with a delegation," stressing that "there are no understandings between the two parties at the present time, and that other problems are considered greater and more important than ministerial portfolios." Ended 29/N33   https://www.mawazin.net/Details.aspx?jimare=212428

Al-Sudani: Iraq Seeks To Assert A Balanced Relationship With Its Regional And International Surroundings

Political | 03:01 - 11/25/2022   Baghdad - Mawazine News   , Prime Minister Muhammad Shia Al-Sudani received, today, Friday, a delegation to the US Congress headed by Senator Mark Takano, and the membership of a number of members of Congress, in the presence of the US ambassador to Iraq.

Al-Sudani's media office stated in a statement received by Mawazine News, that "Senator Takano, who heads the Veterans Affairs Committee in Congress, extended his congratulations to Al-Sudani on the occasion of assuming his duties and the government gaining the confidence of the House of Representatives, as the first delegation representing the US Congress to visit Iraq after the formation of the government." .

The statement added, "During the meeting, they reviewed the bilateral relations between Iraq and the United States, the course of the war on terrorism and the performance of the Iraqi forces in pursuing the terrorist remnants of ISIS. They also discussed strengthening relations and partnership in accordance with the strategic framework agreement in various fields, especially cooperation in confronting changes." climate and efforts to combat water scarcity.

Al-Sudani pointed out, "to the importance of the relationship with the United States, and Iraq's endeavor to assert a balanced relationship with its regional and international surroundings, in a way that preserves Iraq's national sovereignty and supports the region's stability and security." Ended 29/M99     https://www.mawazin.net/Details.aspx?jimare=212360

Al-Sudani Stresses, During His Meeting With A Delegation From Congress, The Importance Of The Relationship With America

Posted On2022-11-26 By Sotaliraq   Prime Minister Muhammad Shia' al-Sudani stressed, on Friday, the importance of the relationship between his country and the United States of America, during his meeting with a congressional delegation headed by Senator Mark Takano, and the membership of a number of members of Congress, in the presence of the American ambassador to Iraq.

According to a statement issued by Al-Sudani's office, Senator Takano, who heads the Veterans Affairs Committee in Congress, extended his congratulations to Al-Sudani on the occasion of assuming his duties and the government gaining the confidence of the House of Representatives, as the first delegation representing the US Congress to visit Iraq after the formation of the government.

The statement added that during the meeting, they reviewed the bilateral relations between Iraq and the United States, the course of the war on terrorism and the performance of the Iraqi forces in pursuing the remnants of ISIS.

They also discussed strengthening relations and partnership in accordance with the strategic framework agreement in various fields, foremost of which is cooperation in facing climate change and efforts to confront water scarcity, according to the statement.

During the meeting, the Prime Minister referred to the importance of the relationship with the United States, and Iraq's endeavor to assert a balanced relationship with its regional and international environment, in a manner that preserves Iraq's national sovereignty and supports the region's stability and security. LINK

Iraqi News Highlights Friday Afternoon 11-25-22

Iraqi News Highlights Friday Afternoon 11-25-22

Tlm724 Administrator Bondlady’s Corner

A New High In Oil Prices

Economie| 11:16 - 11/25/2022   Follow-up - Mawazine News  Oil prices rose in early trading on Friday, trimming some of the week's losses that were driven by concerns about Chinese demand and expectations that the high price ceiling proposed by the Group of Seven countries for Russian oil will keep supplies flowing.  Brent crude futures rose 13 cents, or 0.2 percent, to $85.47 a barrel at 0121 GMT.   West Texas Intermediate crude futures jumped 35 cents, or 0.5 percent, from Wednesday's close, to $78.32 a barrel. No settlement was reached for WTI on Thursday due to the Thanksgiving holiday in the United States.

Diplomats from the Group of Seven and the European Union have discussed a ceiling for Russian oil prices between $65 and $70 a barrel, aimed at limiting revenues that fund Moscow's military offensive in Ukraine without disrupting global oil markets.

"The market considers (the price ceiling) very high, which reduces the risk of Moscow taking retaliatory measures," ANZ Research analysts said in a note to clients.

Russian President Vladimir Putin warned, during a call he made yesterday with Iraqi Prime Minister Mohammed Shia al-Sudani, of "dangerous repercussions" for setting a ceiling on Russian oil prices.

Putin said that setting a ceiling on Russian oil prices will have "serious consequences for global energy markets," noting that Moscow will not supply oil and gas to any country that joins the imposition of a price ceiling, which was confirmed by the Kremlin on Thursday.

ANZ Research analysts also said there are indications that an increase in COVID-19 cases in China, the world's largest oil importer, is beginning to affect fuel demand.

They added, "These are headwinds for oil demand, and in addition to the weakness of the dollar, there is a negative background for crude prices."

Trading is expected to remain cautious ahead of an agreement on the price ceiling, which is scheduled to enter into force on December 5 when the European Union embargo on Russian crude begins, and before the next meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, in what is known as the OPEC + grouping, on the fourth. From December.

The OPEC+ alliance had agreed in October to cut target production by two million barrels per day until the end of 2023.

Saudi Energy Minister Abdulaziz bin Salman was quoted as saying this week that the OPEC+ grouping was ready for further production cuts if necessary. https://www.mawazin.net/Details.aspx?jimare=212344

Al-Sudani to the US Congress delegation: Iraq seeks a balanced relationship with its regional and international surroundings

Friday 25 November 2022 15:09 | political Number of readings: 324

Baghdad / NINA / - Prime Minister Muhammad Al-Sudani stressed the importance of the relationship with the United States, and Iraq's endeavor to assert a balanced relationship with its regional and international environment, in a way that preserves the national sovereignty of Iraq and supports the stability and security of the region.

Al-Sudani discussed, during his meeting today, Friday, a delegation to the US Congress headed by Senator Mark Takano, and the membership of a number of members of Congress, in the presence of the US Ambassador to Iraq, strengthening relations and partnership in accordance with the strategic framework agreement in various fields, especially cooperation in facing climate change and efforts to confront water scarcity. .

Senator Takano, who heads the Veterans Affairs Committee in the Congress, presented his congratulations to Al-Sudani on the occasion of assuming his duties and the government gaining the confidence of the House of Representatives, as the first delegation representing the US Congress to visit Iraq after the formation of the government.

The meeting reviewed the bilateral relations between Iraq and the United States, the course of the war on terrorism and the performance of the Iraqi forces in pursuing the remnants of ISIS./ End 5

https://ninanews.com/Website/News/Details?key=1016326

China Confirms Its Willingness To Employ Iraqi Workers In Its Companies Operating In Iraq

Money and business  Economy News – Baghdad The Minister of Labor and Social Affairs, Ahmed Al-Asadi, stressed the importance of employing national workers in Chinese investment companies, and implementing the labor law and government decisions regarding foreign workers in Iraq.

Al-Asadi said, during his meeting with the Chinese ambassador to Iraq, Cui Wei, that "the Iraqi government is very interested in activating previous pledges with China and economic agreements between the two countries, and it hopes to lay sound foundations for Chinese labor in Iraq," noting that "a decision was taken not to promote new applications." For companies licensed to employ foreign workers at the present time, until they are organized in order to ensure the employment of Iraqi job seekers.

Al-Asadi stressed that "Iraq was keen after 2003 to establish balanced relations with all countries with which it has common interests, including China, which took practical steps to regulate the labor market," pointing to "the ministry's keenness to develop bilateral relations further to activate the private sector."

He pointed to "the importance of securing social security for Iraqi and Chinese workers alike," calling on China to "establish an oil training center in the southern governorates for the purpose of developing the skills of Iraqi workers and training them in the field of the oil industry."

For his part, the Chinese ambassador stressed "the importance of respecting and implementing Iraqi laws and his country's readiness to employ Iraqi workers according to the Labor Law," reviewing "a number of implemented projects in various fields in Iraq."

Views 242   Added 11/25/2022 - 1:53 PM   Updated 11/25/2022 - 8:06 PM

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Iraq And Saudi Arabia Agree To Speed Up And Turn Memorandums Of Understanding Into Practical Reality

The media office of the Ministry of Oil said in a statement, "Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani arrived in Riyadh and met with his Saudi counterpart, Abdulaziz bin Salman, at his invitation. fields, especially the oil, energy and petrochemical industries.

Abdul-Ghani stressed that "the meeting stressed the keenness of Iraq and the Kingdom of Saudi Arabia to enhance the horizons of bilateral cooperation between the two brotherly countries in a way that achieves common interests."

Abdel-Ghani referred to "the agreement to activate, accelerate and convert memorandums of understanding into a practical reality on the ground and specify specific timings for implementation, including the gas investment project in Akkas and the Nebras petrochemical project, the electrical connection, as well as gas investment projects in the southern fields, clean energy and others,"

calling Saudi companies to invest in the oil and gas sector, through the implementation of joint projects," pointing out that Iraq seeks to provide a suitable environment for the work of Arab and international companies.

On cooperation and coordination with Saudi Arabia, the Oil Minister said, according to the statement, that "Iraq is supportive of the decisions and agreements" of OPEC and "OPEC Plus" because it aims to achieve a balance between supply and demand, and leads to more stability in global markets.

For his part, the Saudi Minister of Energy confirmed, according to the statement, that "the invitation of the Deputy Prime Minister and Minister of Oil and the ministerial delegation to Riyadh comes within the framework of the Kingdom's interest in strengthening relations with brothers in Iraq and working to accelerate the implementation of joint projects in several fields,

calling for the formation of joint committees to resolve projects that It was agreed upon earlier in the sectors of gas investment, electrical connection and petrochemical projects.

And the Saudi Minister of Energy expressed the Kingdom's readiness to cooperate and establish joint projects in all sectors that Iraq needs, praising the human capabilities, minds and experiences that Iraq possesses in addition to its economic capabilities and natural resources that it possesses. .

The statement continued, "The visit of the Iraqi ministerial delegation will last for one day, during which discussions will take place with the Saudi ministries of energy, Aramco, SABIC, Aqua Power, and others," noting that "the delegation includes, in addition to the minister, the Undersecretary for Energy Affairs, the Undersecretary for Liquidation and Distribution Affairs, Hamed Yunus, and the Ministry's advisor for energy affairs."

Director General of the South Gas Company, Director General of the Oil Marketing Company (SOMO), Director General of the Studies, Planning and Follow-up Department, Director General of the Contracts and Licensing Department, and a number of officials at the Ministry of Oil.

https://www.radionawa.com/all-detail.aspx?jimare=32306

Document .. The Resignation Of The First Member Of The Iraqi Parliament In Its New Session

Posted On2022-11-25 By Sotaliraq   The governor of Anbar, Ali Farhan Hamid, the winning candidate in the recent legislative elections, submitted his resignation from parliament in favor of candidate Ahmed Hamid Sharqi Farhan al-Alwani.

According to a book issued by the Independent High Electoral Commission appended to the signature of the head of the Electoral Administration, Abbas Farhan Hassan, issued today and addressed to the House of Representatives under the subject of an alternative candidate, Al-Alwani follows Hamid, as indicated in the document.

Thus, Hamid remains in his position as head of the local government in Anbar Province.   LINK

The Dollar Is Stable In The Iraqi Markets

Economie| 10:50 - 11/25/2022   Baghdad - Mawazine News  Today, Friday, the exchange rates of the dollar witnessed stability in the local markets.   The selling price of the dollar was recorded at 149,100 dinars per 100 dollars, while the buying price of the dollar was 149,000 dinars per 100 dollars. Ended 29/M99    https://www.mawazin.net/Details.aspx?jimare=212343

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

https://www.bondladyscorner.com/

KTFA Members "Friday News" 11-25-2022

KTFA:

Samson:  A representative request to extinguish the debts incurred by the beneficiaries of social welfare salaries

25th November, 2022

The Presidency of the House of Representatives received an official request, accompanied by parliamentary signatures, for the purpose of extinguishing the debts incurred by the beneficiaries of social welfare salaries, in order to include the debt extinguishing clause within the 2023 general budget

This is due to their inability to pay the debts incurred by them as a result of the difficult living conditions, as well as the wave of high prices that hit the markets and affected these classes.  LINK

Samson:  Putin stresses Russia's keenness to develop the relationship with Iraq

11/24/2022 18:33:47

Today, Thursday, Prime Minister Muhammad Shia Al-Sudani received a phone call from the President of the Federal Republic of Russia, Vladimir Putin.

And the government statement, of which {Euphrates News} received a copy, stated that: "During the call, they discussed the bilateral relations between the two countries, and ways to enhance them, as well as a number of regional and international files of common concern."

During the call, Al-Sudani expressed "the government's keenness to perpetuate the relationship with Russia in various fields," stressing that "the government pursues in its foreign relations a policy of openness and cooperation with Iraq's regional and international environment."

For his part, Putin congratulated the Prime Minister on the occasion of forming the government, expressing his "wishes for the success of its tasks," stressing "Russia's keenness to develop the relationship with Iraq, and the desire to develop it and open horizons for mutual cooperation."

LINK

ATPInfinity:  PUTIN KNOWS SOMETHING BIG AT THIS MOMENT; LOOKS LIKE COMPLETION!

"...Putin congratulated the Prime Minister on the occasion of forming the government,..."OH!!!! SAME DAY "...on Thursday, that the Prime Minister, Muhammad Shia' Al-Sudani, assigned the Ministries of Finance and Planning to expedite the preparation of the draft of the country's general budget for the year 2023."

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Samson:  Indian and Chinese companies acquired the largest share of Iraqi oil exports last month

24th November, 2022

The Iraqi Oil Marketing Company "SOMO" announced today, Thursday, that the Indian and Chinese oil companies were the most numerous to buy Iraqi oil during the month of October.

"Somo" said, in a statistic published on its official website and seen by Shafaq News Agency, "Indian and Chinese companies were the most numerous among other international companies in purchasing Iraqi oil, with 7 companies each out of 34 companies that purchased oil during the month of October." 

"Somo" added that "the American companies came second with 4 companies, then the South Korean companies came with 3 companies, and the Greek and Italian companies came fourth with two companies each, while the rest were distributed among the Spanish, (Dutch-British), Turkish, Russian and Egyptian companies." Emirati, Kuwaiti, Jordanian, and Malaysian companies, with one company for each.

"SOMO" indicated that it "relies in selling Iraqi oil on the main criteria for contracting with large, medium, independent and vertically integrated governmental international oil companies," noting that "the most prominent international companies that bought Iraqi oil are the Indian Hindustan Company, the Korean Cocas, and the Chinese Petrogyna, The American Exxon Mobil, the British Dutch Shell, and the Italian Eni.  LINK

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Samson: Member of Parliamentary Integrity: Major clues behind the theft of the century.. and the evidence is presented

11/25/2022 10:59:22

A member of the Parliamentary Integrity Committee said that there are "big threads" behind those accused of stealing the secretariats of the Tax Authority, which exceeded 3 trillion dinars.

Aliya Nassif told {Euphrates News} agency: "A sub-committee was formed within the Integrity Committee to follow up on the file of the theft of the century," indicating that "there are major threads being traced in this file." She added, "The so-called {Hussein Kawa} was born in the year 2000 and is involved in this case, as it is certain that he is a front for a larger corrupt personality, and that one of the personalities born in 1999 has a wealth estimated at billions of dinars, and this is evidence that they are a cover for bigger personalities." Nassif pointed out that "there is a qualitative development and a great effort, so that they made a qualitative leap in the work of the House of Representatives."

It is noteworthy that last October witnessed the disclosure of a huge embezzlement of trust funds in the General Tax Authority for the amount of 3.7 trillion Iraqi dinars (two and a half billion US dollars), and according to the Integrity Commission, the case is still under investigation to reach all those involved in it. Judicial arrest warrants were also issued against a number of parties to the case, most notably the director of the "Creators" company, Nour Zuhair Al-Muzaffar. A member of the Parliamentary Integrity Committee, Hadi al-Salami, revealed to Furat News yesterday that large sums of stolen money had been recovered.   LINK

Samson: Almost half of Iraq's financial surplus has been transferred to US bonds .. Is there a benefit for Baghdad ?

25th November, 2022

Iraq continues to increase its holdings of US bonds at a time when it is witnessing huge numbers of oil revenues as a result of the rise in oil prices, as not a month passes without Iraq buying US bonds, at a value of approximately $1.6 billion per month. 

The US Treasury said in its latest table, "Iraq rose two ranks to rank 32 among the countries with the largest holders of US treasury bonds of 38 countries listed in the table for countries with possessions of more than 32 billion dollars."

She added, "Iraq's possession of these bonds amounted to $36.9 billion for the month of September, up by 3.65% from August of 2022, and up by 105% from the same month of last year 2021."

She pointed out that "Iraq was the fourth largest Arab country after Saudi Arabia, Kuwait and the UAE, while Japan came at the top of the countries with the largest possession of these bonds, followed by China second and the United Kingdom third," noting that "the total bonds of the countries of the world amounted to 7 trillion and 296 billion dollars."

And Iraq buys these bonds as a result of achieving a monthly financial surplus, which has a comparison between its expenses and revenues. Speaking of the financial surplus achieved in the current year 2022, Iraq's possession of US bonds in the last month of last year, December, amounted to $22.5 billion.

During the 9 months of this year until September, Iraq's possession of US bonds amounted to $36.9 billion, which means that Iraq bought during the first nine months of this year $14.4 billion in US bonds.

Looking at the accounts of the Iraqi state until September, Iraq's total revenues during 9 months of the year amounted to more than 122 trillion dinars (more than 84 billion dollars), while its expenditures were about 79 trillion dinars (more than 53 billion dollars).

Thus, the surplus achieved by Iraq amounts to 31 billion dollars in 9 months, and during these same nine months, Iraq bought US bonds with 14.4 billion dollars of the achieved financial surplus, which means that more than 46% of Iraq's financial surplus turned into US bonds.

What led to the temptation of Iraq to transfer nearly half of its financial surplus to US bonds is the high interest rate approved by the US Federal Reserve during the current year, and the continuous increase that is expected to reach the end of this year by more than 4%.

Accordingly, Iraq can receive interest a year from now on the value of its current bonds at a value of approximately $1.5 billion, while its interest will rise further with the purchase of more bonds in the coming months with oil prices stabilizing above $70 a barrel, which is the price that represents the limit. The difference between Iraq's expenditures and the possibility of achieving a financial surplus.

And while Iraq bought US bonds with about half of the financial surplus it achieved, the other half is divided between buying gold, which since the beginning of this year amounted to about 34 tons of gold that Iraq bought during this year so far, bringing its reserves to more than 130 tons after it was not it exceeds 96 tons at the beginning of this year.

The average price of a ton of gold globally during the current year is approximately $50 million, which means that Iraq bought gold at $1.7 billion, in addition to bonds at $14.4 billion, meaning that it bought bonds and gold at more than $16 billion, and with this, it has converted more than from 50% of its financial surplus achieved so far into gold and US bonds.  LINK

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Samson:  The US State Department places Iraq among the worst countries that are not recommended to visit in 2022

24th November, 2022

The US State Department's travel advisory system ranked Iraq and six Arab countries among the 21 worst countries in the world that are "not recommended" to visit during the current year 2022, attributing the reason for these fears to "crime, terrorism and civil unrest".

According to a report by the American World Population website, seen by Shafaq News Agency, the worst countries in the world to visit came according to the travel advisory system of the US State Department, which is classified in the fourth category, which is represented by the phrase (do not travel).

And the worst 21 countries in the world to visit during the current year 2022, including Iraq and six other Arab countries, and these countries included:

(Afghanistan, Belarus, Burkina Faso, Central African Republic, Haiti, Iran, Iraq, Libya, Mali, Mexico, Myanmar, North Korea, Palestine, Russia, Somalia, South Sudan, Sudan, Syria, Ukraine, Venezuela and Yemen).

And she stated that the fears that referred to Iraq that it is among the 21 worst countries in the world to visit during the current year 2022, came as a result of terrorist attacks posing a constant threat in Iraq, where peaceful demonstrations and protests could turn into violent acts without warning, and that some American citizens are also exposed. at risk of violence or kidnapping. LINK

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Clare:  The Iraqi Trade Bank notes a service for electronic payment of government bills

11-24-2022

 The Iraqi Trade Bank issued, today, Thursday, a notice of the availability of a service to pay government bills electronically.

The media expert at the bank, Aqil Al-Shuwaili, said in a notice received by the Iraqi News Agency (INA), that "the Iraqi Trade Bank would like to inform its customers of the availability of an application for the electronic collection service, through which government bills can be paid electronically through the smart systems of ministries, institutions and collection departments whose revenues are obtained from through bills and fees.

Al-Shuwaili added, "The service will facilitate transactions, simplify procedures, and support the e-government program to enhance and collect resources within a safe and transparent environment, as well as keeping pace with the development of electronic payment methods."   LINK

"Tidbits From TNT" Friday 11-25-2022

TNT:

Tishwash:  Budget.. Iraqis are waiting for the law between anticipation and hope to end the two years of crisis

It is strange to say that Iraq in the last two years does not have a general budget to manage the affairs of the country, and perhaps if we speak outside its borders, no one will believe it, but it is true and for reasons known to everyone, and the victim is the citizen who lived during this period in a state of decline in the standard of living.

The Sudanese government, since it assumed the reins of leadership, has launched service campaigns and placed the service of citizens on its list of priorities, but it needs a budget to be able to implement what it planned for, and this is being worked on by the Ministry of Finance in order to complete the draft budget law as soon as possible, especially since the House of Representatives has extended current legislative term.

The total amount of the budget is 130 billion dollars

A source in the Ministry of Finance revealed the total amount allocated for the 2023 budget, while it amounts to approximately $130 billion.

The source told “Earth News” agency, “The committee for preparing a draft law for the draft budget law for the year 2023 continues its work on a daily basis, and it is composed of several ministries, including finance, planning and oil, in addition to the prime minister’s office and advisors specialized in financial and economic affairs.”

And the source, who asked not to be named, stated that “the preparation of a draft law for the budget bill for the year 2023 is in its final stages, and there is a possibility that the draft will be sent to the House of Representatives at the beginning of next month.”

He added, "The budget for the year 2023 will be different from previous budgets in terms of investment budget allocations, and this and allocations in this regard are still ongoing and ongoing work on them, and the general budget allocations will be approximately $130 billion."

Anticipation and hope

Citizens express their hope that a budget will be prepared that will rescue them from the weak economic situation that they have experienced during the past two years due to the lack of economic stability.

Citizen Ahmed Karim told Earth News Agency, “The past two years have been among the most difficult years that have passed for Iraqis in general and for them in particular,” noting that “the citizen, after enduring the problems of politicians, has come to bear its economic consequences.”

And he added, “We hope for the good of the current government by preparing a budget through which it will do justice to the middle and weak classes who are most vulnerable to economic damage from the policies of previous governments,” calling on “Parliament to cooperate with the government in order to end the suffering of citizens.”

Karim called on “the government to adjust the exchange rate of the dollar,   as it is the first reason for the decline in the standard of living of citizens.”

The price of a barrel of oil is between (70 to 75) dollars

For his part, Jamal Cougar, a member of the Parliamentary Finance Committee, told Earth News, “The House of Representatives, until this hour, does not know anything about the draft budget bill for the year 2023, as it is still with the Council of Ministers, and we have no contact with them in this regard.” .

And Cougar indicated that “according to the information that reaches us, the price of a barrel of oil will be in the 2023 budget, from (70 to 75) dollars, and the exchange rate will be the same without any change, and the law will include some jobs according to deletion and creation.”

He added, "We expect that the draft budget law will reach Parliament in the middle of next month, and we in the House of Representatives will work to legislate the law before the end of the current year, and the government should expedite sending this law so as not to delay its legislation."

For his part, the economic advisor in the Prime Ministry, Mazhar Muhammad Salih, apologized when contacted by our agency to comment on the issue,   especially with the presence of the new government.

And the general budget remains a hope for many citizens after waiting for two years to get out of the stifling economic crisis and get rid of its accumulations that cast a shadow over the majority of the Iraqi people  link

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CandyKisses:  Parliamentary Finance proposes adopting a price of $75 per barrel in the budget

The Parliamentary Finance Committee clarified the priorities of the 2023 budget, and while it expected it to reach parliament at the beginning of next year, it was likely that its value would reach 150 trillion dinars, while it proposed fixing the price of $75 per barrel

Committee member Mueen Al-Kadhimi said, "The Ministries of Finance and Planning are serious about completing writing the draft budget for 2023, and there will be a discussion about it in the Council of Ministers, and we believe that it will be sent to the House of Representatives early next year

He added, "In the Finance Committee, we believe that the budget will translate the government program into health and electricity files, and try to reach production of 30 megawatts per day, support the social protection file, the investment and urban aspects, and infrastructure development. There are also expectations that its value will be 150 trillion dinars, especially with the rise in oil prices

Al-Kazemi stressed, "The necessity of adopting a reasonable price for a barrel of oil that takes into account the possibility of a drop in global prices, such as 75 dollars. Accordingly, the value of oil revenues will be only around 127 trillion dinars, while there will be other non-oil revenues with a value exceeding 20 trillion dinars

He stressed that "Iraq's current share in OPEC reaches 3,250 thousand barrels, and exports must increase, and Iraq's status as the third producer around the world is taken into account, and its share in OPEC has been reduced as a result of wars, and its current situation differs

. He pointed out that "preparing the budget will not need loans with a financial abundance, but on the other hand, a deficit may occur that will not exceed 10 trillion dinars

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Tishwash:  The House of Representatives neglects to pass the laws that citizens are waiting for

The House of Representatives is still unable to legislate and approve the service and economic laws that citizens are eagerly awaiting, while the representatives attribute the reasons to the absence of political consensus on some laws.

Another session of the House of Representatives was absent from the most important and needed laws expected of citizens, and an agenda in which some laws were developed at a stage from previous sessions, while the legislation of important laws, whether related to the economic or service aspect, continues to be neglected

The obstruction was, and still is, caused by the absence of political consensus on some laws, such as the budget, adjusting employees' salaries, and other legislation related to financial issues in particular. Representatives confirmed that differences are still present within the parliamentary committees.

There are many draft laws between suspended and suspended, some of which depend on their approval at various stages of life, and others that contribute to solving problems and restoring a societal reality.

link 

Mot:  ... Alright!! -- Found the Car!!! 

Mot:  .. Hay! - its Cooooold Out Side – Sooooooo 

Friday Morning Iraq Economic News Highlights 11-25-22

Friday Morning Iraq Economic News Highlights 11-25-22

The House Of Representatives Neglects To Pass Laws That Citizens Are Waiting For

Sumerian special  2022-11-25 | 04:13  Source:   Sumerian   510 views  The House of Representatives is still unable to legislate and approve the service and economic laws that citizens are eagerly awaiting, while the representatives attribute the reasons to the absence of political consensus on some laws.

Another session of the House of Representatives was absent from the most important and needed laws expected of citizens, and an agenda in which some laws were developed at a stage from previous sessions, while the legislation of important laws, whether related to the economic or service aspect, continues to be neglected.

The obstruction was, and still is, caused by the absence of political consensus on some laws, such as the budget, adjusting employees' salaries, and other legislation related to financial issues in particular. Representatives confirmed that differences are still present within the parliamentary committees.

There are many draft laws between suspended and suspended, some of which depend on their approval at various stages of life, and others that contribute to solving problems and restoring a societal reality.

LINK

Expectations Of A "Huge Jump" In Iraqi Oil Production Within Months

"OilPrice" expected, in an article published by journalist Simon Watkins, that oil production in Iraq would achieve a huge leap during the next few months.

Watkins said that the Iraqi oil officials' statements about the new production targets, which range between 6-8 million barrels per day, raise the question of experienced oil observers about the extent of this impact on the Iraqi oil industry.

And last week, the Director General of the Iraqi Governmental Oil Marketing Organization (SOMO), Alaa Al-Yusri, said that Iraq targets 7 million barrels per day of crude oil in 2027.

According to the writer, the main reason why Iraq does not produce even 13 million barrels per day at the present time is that its oil industry seems to be seen by many in the upper levels of its various bureaucracies as part of their personal retirement funds. Beginning with ExxonMobil's hasty withdrawal from the corrupt Iraq Joint Seawater Supply Project (CSSP) as fear of massive reputational damage trumped desire for huge oil profits, Western international oil companies (IOCs) rushed out of the Iraqi oil sector.

The independent risk agency, Transparency International (TI), has highlighted for many years in its publications the Corruption Perceptions Index, that Iraq typically appears in the worst 10 out of 180 countries in terms of the scale and scope of corruption.

Transparency International says: “Massive embezzlement, procurement fraud, money laundering, oil smuggling and widespread bureaucratic bribery have landed the country at the bottom of international corruption rankings, fueling political violence and impeding effective state building and service delivery.”

The writer said: “Iraq can count on an additional 0.25 million barrels per day from West Qurna 2 within weeks. In addition to an additional 0.7 million barrels per day from Rumaila, this will increase Iraq’s total oil production by 0.95 million barrels per day within months.” Added This brings the October production of 4.561 million barrels per day to 5.511 million barrels per day, leaving 1.489 million barrels per day to reach the target level of seven million barrels per day.

He added, "For a country rich in easily accessible oil, that's a small step. For a country like Iraq, it's a huge leap."

Saudi Energy Minister Prince Abdulaziz bin Salman and his Iraqi counterpart, Hayan Abdul Ghani, stressed the importance of working within the framework of the OPEC + grouping, and the "possibility of taking other measures to ensure balance and stability in global markets if the need arises."

This came in a joint statement issued by the Saudi Ministry of Energy, Thursday, and it also stated that the two ministers stressed "their countries' commitment to the recent decision of the OPEC Plus group, which extends to the end of 2023."

The Iraqi Oil Ministry said that the minister arrived in the Saudi capital, Riyadh, on Thursday, at the invitation of Saudi Arabia.    https://www.iqiraq.news/economy/44133--.html

SOMO Denies The Occurrence Of Smuggling Of Crude Oil From Khor Al-Zubayr

Energy Economy News – Baghdad   Today, Thursday, the National Oil Marketing Company (SOMO) denied that crude oil was smuggled from Khor Al-Zubayr.

The company said in a statement, "One of the social media platforms published misleading and incorrect information regarding the existence of cases of smuggling of Iraqi crude oil from the port of Khor Al-Zubayr by foreign tankers with the participation of the Oil Marketing Company."

She added, "The Oil Marketing Company is legally responsible for exporting Iraqi crude oil, and this process takes place under solid contracts with major international companies, and the exported quantities are loaded into tankers through official ports."

She indicated that "the quantities exported, pumped to ports, and received by foreign companies are matched by all concerned authorities and under the supervision of a specialized international company (a third examiner) with high transparency, and detailed information on this subject is published in the reports issued by the Transparency Initiative for Strategic Industries in Iraq, which can be viewed by everyone.”

And she continued, "The port of Khor Al-Zubayr is a port dedicated to goods and the export and import of petroleum products, and it is not equipped with any equipment or pipelines for exporting crude oil."

And it indicated that "all the tankers mentioned in the misleading report are tankers officially contracted to transport the black oil to the floating reservoir in Khor Abdullah and with successive periods to be exported from there under official contracts with solid international companies, and the quantities loaded on them are subject to conformity with high transparency by the concerned authorities." According to the statement.

And she stressed that "the Oil Marketing Company holds the party that published the report responsible for misleading public opinion and reserves its legal right to sue them for that."

Views 93   Added 11/24/2022 - 4:35 PM   Updated 11/25/2022 - 11:09 AM

https://economy-news.net/content.php?id=30993

Oil Minister From Saudi Arabia: Iraq Is Supportive Of The Decisions And Agreements Of OPEC And OPEC Plus

Energy   Economy News – Baghdad Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani affirmed the government and the ministry's keenness to develop bilateral relations with Saudi Arabia in all fields, especially the oil, energy and petrochemical industries.

Abdul-Ghani said, during the meeting of the ministerial delegation visiting Saudi Arabia at the invitation of Saudi Energy Minister Abdulaziz bin Salman, that "the meeting affirmed the keenness of Iraq and the Kingdom of Saudi Arabia to enhance the prospects for bilateral cooperation between the two brotherly countries in a way that achieves common interests."

Abdul-Ghani referred to "activating, accelerating and converting memorandums of understanding into a practical reality on the ground that sets specific timings for implementation, including the gas investment project in Akkas and the Nebras petrochemical and electrical connection project, as well as gas investment projects in the southern fields, clean energy and others," calling on Saudi companies to "Investing in the oil and gas sector through the implementation of joint projects," while stressing that "Iraq seeks to provide a suitable environment for the work of Arab and international companies."

On cooperation and coordination with Saudi Arabia in OPEC and OPEC Plus, the Minister of Oil said, "Iraq supports the decisions and agreements of OPEC and OPEC Plus because they aim to achieve a balance between supply and demand, and lead to more stability in global markets."

For his part, bin Salman affirmed, "The invitation of the Deputy Prime Minister, Minister of Oil, and the ministerial delegation comes within the framework of the Kingdom's interest in strengthening relations with brothers in Iraq and working to accelerate the implementation of joint projects in several fields," calling for "the formation of joint committees to resolve the projects that have been agreed upon." Previously, it was involved in the sectors of gas investment, electrical connection and petrochemical projects.

He expressed the Kingdom's readiness to cooperate and establish joint projects in all sectors needed by Iraq, praising the human capabilities, minds and experiences that Iraq possesses, as well as its economic capabilities and natural resources, which are able to transform it into an important economic force in the region. And in the world." Views 105   Added 11/24/2022 - 7:13 PM   Updated 11/25/2022 - 2:02 PM

https://economy-news.net/content.php?id=30997

The Kremlin: Putin Discussed With Al-Sudani Western Attempts To Impose Restrictions On Russian Oil

Energy   Economy News – Baghdad   Russian President Vladimir Putin and Prime Minister Mohamed Shiaa al-Sudani described the ongoing work within the framework of “OPEC +” as “positive,” explaining that this is what helped ensure the stability of global oil markets, according to Russian media.

The statement of the Kremlin's press office said, today, Thursday: "The two sides presented, in a phone call between them, a positive assessment of joint work with the participation of Russia and Iraq within the framework of (OPEC +), which ensured the stability of the global oil market."

Putin also congratulated the Iraqi Prime Minister on his assumption of office, and discussed with him "the attempts of many Western countries to impose restrictions on the prices of crude oil from Russia."

In the context of bilateral relations, Putin noted the "traditionally friendly and constructive nature of cooperation between the two countries."

Views 371   Added 11/24/2022 - 7:46 PM  Updated 11/25/2022 - 12:35 PM

https://economy-news.net/content.php?id=30998

The Parliamentary Finance Committee Proposes Adopting A Price Of $75 Per Barrel In The 2023 Budget

Economie   23:00 - 2022-11-24  The Parliamentary Finance Committee clarified, this evening, Thursday, the priorities of the 2023 budget, and while it expected it to reach parliament at the beginning of next year, it was likely that its value would reach 150 trillion dinars, while it proposed fixing the price of $ 75 per barrel.

Committee member Mueen Al-Kadhimi said, "The Ministries of Finance and Planning are serious about completing writing the draft budget for 2023, and there will be a discussion about it in the Council of Ministers, and we believe that it will be sent to the House of Representatives early next year."

He added, "In the Finance Committee, we believe that the budget will translate the government program into health and electricity files, and try to reach the production of 30 megawatts per day, support the social protection file, the investment and urban aspects, and infrastructure development. There are also expectations that its value will be 150 trillion dinars, especially with the rise in oil prices."

Al-Kazemi stressed the necessity of adopting a reasonable price for a barrel of oil that takes into account the possibility of a drop in global prices, such as 75 dollars, and accordingly, the value of oil revenues will be only around 127 trillion dinars, while there will be other non-oil revenues with a value exceeding 20 trillion dinars

In OPEC, it reaches 3,250 thousand barrels, and exports must increase, and Iraq’s position is taken into account as the third producer around the world, and also the percentage of its share in OPEC has been reduced as a result of wars, and its current situation differs. It will not exceed 10 trillion dinars.  

https://kirkuktv.net/AR/Details/10964

MilitiaMan Thursday Night "Looking Good IMO" 11-24-2022

KTFA:

Samson:  Al-Sudani assigned two ministries to expedite the preparation of the budget, and it is likely that it will be approved next year

24th November, 2022

A member of the Finance Committee in the House of Representatives, Mueen Al-Kadhimi, stated, on Thursday, that the Prime Minister, Muhammad Shia' Al-Sudani, assigned the Ministries of Finance and Planning to expedite the preparation of the draft of the country's general budget for the year 2023.

Al-Kadhimi told Shafaq News agency, that the budget will be identical to the government program, and it will include investment areas in a larger proportion compared to previous budgets to move the Iraqi economy, with funds allocated to the governorates in the development of the regions.

He added that the draft budget law will be ready in the Council of Ministers at the beginning of next month with a total amount estimated at 150 trillion dinars, and then it will be sent to the House of Representatives, expecting that Parliament will vote on the budget law after reading and amending it in January 2023.

And the Prime Minister, Muhammad Shia'a al-Sudani, identified, at the beginning of this month, the priorities to focus on are the federal budget law for next year.

This came during his chairmanship of a meeting that included Minister of Finance Taif Sami, Minister of Oil Hayan Abdel Ghani, Minister of Electricity Ziyad Ali Fadel, and a number of advisors. They discussed the file of the draft federal budget law for the year 2023, and the need to expedite its preparation and send it to the House of Representatives.

Al-Sudani directed the importance of the budget being at the level of ambition, and that it prioritize meeting the needs of citizens in terms of services, as well as taking it upon itself to effectively address the problem of electricity shortages, which greatly affected the life of citizens and the economic sectors in the country.

Prime Minister Mohamed Shia Al-Sudani had previously directed the need to prepare the federal budget law for the year 2023 as quickly as possible.

The previous government headed by Mustafa Al-Kadhimi faltered in sending the draft budget law for the year 2022 before the Iraqi parliament in its previous session dissolved itself in preparation for the early elections that took place on the tenth of October 2021.

It is noteworthy that the financial budget for the current year 2022 was not approved by the Council of Ministers and the House of Representatives due to the turmoil that Iraq witnessed after the early elections in October 2021, which escalated to dangerous levels that ended with the events of the Green Zone, with armed confrontations between supporters of the Sadrist movement and the security forces, which claimed lives. Dozens and hundreds injured.

After the end of the crisis, with the agreement of the political blocs to elect the President of the Republic and to grant confidence to the government of Prime Minister Muhammad Shia’a al-Sudani, the latter pledged that he would present the draft federal budget law for the year 2023 as soon as possible.

And a number of specialists considered that the delay in approving the budget for the current year would negatively affect investment projects and delay ongoing projects, in addition to stopping the economic activities of the market in the country in general.  LINK

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MilitiaMan:   I beg to differ with this one to the extent they mention the 2022 budget was not approved. A portion has clearly been hidden though.

 We can thank Al-Sadr for that he waited to dissolve his bloc until the EFSL or EDB was signed into law.

The 1/12th operational side of the 2022 budget has been underway all year. The investment side of the budget has not yet been activated.

The Kurds know that there is a large sum of money in the investment side with their portion in it. The estimated $115 Billion that is in it has likely grown since they estimated the amount back around 06/23/2022 real close due to claw backs from corruption files.

What we are witnessing now is the final effort to sort the two seats in the PM Cabinet and the 2023 budget draft getting from the Council of Ministers to the Parliament.

The reconciled 2022 numbers will likely need to be held close until the last minute for if not it would likely leak out quickly and that is to be avoided per legal issues.

They said the draft would be in the next session. Will they call for an extraordinary season or not is to be determined.

They said there was an urgency in doing so.. But, note they also show us there is a new Ministry Council for Economy (MCOE), that is to have the budget with abundance in there next session.

The first session was 11/14/2022, second on 11/22/2022 and the next one will be when? They don't say. But, if the trend is about a week, then that is not far off now.

 Looking good imo.. ~ Militia Man

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"There is an intention of the government to present the budget, and if it is not during the current month, the legislative term will be extended until it is approved because it has become an urgent necessity in light of the absence of the budget for the current year 2022 with a large financial abundance," noting that "The government has started implementing its ministerial platform and government program, and there are serious attempts to finalize the draft budget and submit it to the parliament."

https://www.mawazin.net/Details.aspx?jimare=212139

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Baghdad - Mawazine News

, Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein directed, on Tuesday, the minister to complete the draft of the state's general budget law in order to discuss it in the next session of the parliament.

The Ministry of Foreign Affairs stated in a statement, which Mawazine News received a copy of, that "Hussein chaired the second meeting of the Ministerial Council for the Economy, in the presence of the Ministers of Planning, Finance, Industry, Trade, Agriculture, the Governor of the Central Bank of Iraq, the Acting Chairman of the National Investment Commission, and the Prime Minister's Advisor for Affairs. economic and legal.

She added, "The council hosted the Minister of Electricity, to discuss the reality of service in this important sector, as well as to overcome difficulties in order to upgrade it. The council also discussed many economic issues on its agenda.

At the end of the meeting, the Minister of Foreign Affairs directed, "to complete the draft law of the state's general budget in order to discuss it in the next session of the Council." 

https://www.mawazin.net/Details.aspx?jimare=212066