"Tidbits From TNT" Monday Morning 12-5-2022

TNT:

CandyKisses:  Parliamentary: Discussions and Dialogues to Review the Dollar Exchange Rate

Special - Mawazine News

KDP MP Najwa Hamid confirmed the House's move towards reconsidering the dollar exchange rate.

Hamid told Mawazine News that "there are discussions and dialogues between members of the House of Representatives, and the Finance Committee specifically to reconsider the dollar exchange rate, and we believe that an appropriate price will be maintained."

"The rapid rise has led to a clear economic deterioration, due to the lack of study of the negatives and pros about it, so there is a real need to return the dollar exchange rate," she added. 

Tishwash:  Parliament addresses the government again to resolve the budget and send it before the end of the legislative term

The representative of the Al-Fatah Alliance, Muhammad Al-Baldawi, confirmed, on Monday, that the House of Representatives addressed the General Secretariat of the Council of Ministers and the Ministries of Finance and Planning to speed up the resolution of the draft budget law and send it to Parliament before the end of the current legislative term, indicating that Parliament will not accept any legal violation regarding The decision of the Federal Court on the region's oil. 

Al-Baldawi said, in a statement to Al-Maalouma, that "there are some obstacles facing the government in completing the next year's budget, but they will be overcome through the formation of multiple committees for this purpose."  

He added, "The House of Representatives addressed the General Secretariat of the Council of Ministers and the Ministries of Finance and Planning to quickly resolve the draft budget law and send it to Parliament before the end of the current legislative term," noting that " 

It is noteworthy that the first legislative term of the House of Representatives will end next Thursday.

link

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Tishwash:  Government official: The exchange rate of the dollar will decrease and its impact will be after a week

A government official confirmed, on Monday, that the exchange rates of the US dollar against the Iraqi dinar will decrease with the Central Bank's decision to increase the weekly share of banks, exchange and mediation companies, pointing out that the decline will have an impact next week.

The official told Shafaq News Agency, "The exchange rate of the dollar will decline in the coming days in the local markets, and its impact will be at the beginning of next week," noting that "the exchange companies will apply for their share of the dollar today, Monday, by depositing cash amounts in the safes of each company, and this will be done." Hand it over to the Central Bank, provided that this share of the dollar is delivered during the next week.

The official, who preferred not to mention his name and position, added that "the bank's decision came to reduce the gap between the central bank rate and the dollar price in the local markets or what is known as the black market," expecting "the dollar's decline to its previous levels, which were around 147 thousand dinars compared to 100 dinars." dollar".

Yesterday, Sunday, the Central Bank of Iraq decided to increase the share of banks, exchange and financial mediation companies from the dollar, in order to reduce the price of the dollar in the local markets, after its rise yesterday, Sunday, to more than 150 thousand dinars, compared to 100 dollars.

And the bank stopped 14 banks from entering the auction after the US sanctions that it imposed on these banks as a result of smuggling the currency.

It is noteworthy that the Central Bank sells dollars in an auction that it organizes daily to banks and mediation companies in order to finance foreign trade and finance the internal market in dollars, but many economists and politicians indicated the existence of corruption in the central bank’s sales by smuggling hard currency abroad without finding solutions to that over the years. these years.  ink

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Tishwash:  Great international demand for buying gold, and Iraq maintains its global rank

The Council said in its latest schedule for the month of December, seen by Shafaq News Agency, "The purchase of gold from central banks increased significantly during the month of October, as central banks added 31 net tons of gold to the global international reserves."

He added, "Gold purchases were limited to the Central Bank of the United Arab Emirates, which was the largest buyer during the aforementioned month, as it added just over nine tons to its gold reserves, and the Turkish Central Bank also bought nine tons of gold last October." Uzbekistan also added nine tons, Kazakhstan three tons, and India and Qatar one ton each.

He pointed out that "Iraq maintained its global position after it climbed ten ranks in the month of July after purchasing 34 tons of gold, to reach rank 30 out of 100 countries listed in the table with the largest gold reserves, so that its possession of gold reached 130.4 tons, which represents 8.4% of the rest of its other reserves." ".

The World Council stated that "the total gold reserves of the first five Arab countries, namely, Saudi Arabia, Lebanon, Algeria, Iraq and Egypt, rose to 1,039 thousand tons as a result of the purchase of large quantities of the yellow metal by both Iraq and Egypt."

Globally, the United States of America still leads the rest of the countries with the largest possession of gold in the world at 8,133 thousand tons, followed by Germany with 3,355 thousand tons, and then Italy came with 2,451 thousand tons, while the Lao People’s Republic ranked 100th with 900 kilograms, preceded by the Republic of Cuba by one ton."

On June 27, Iraq announced the purchase of new quantities of gold, approximately 34 tons, an increase of 35% over what was in its possession.

It is noteworthy that the World Gold Council, which is based in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest and most advanced gold mining companies in the world.

The Council said in its latest schedule for the month of December, seen by Shafaq News Agency, "The purchase of gold from central banks increased significantly during the month of October, as central banks added 31 net tons of gold to the global international reserves."

He added, "Gold purchases were limited to the Central Bank of the United Arab Emirates, which was the largest buyer during the aforementioned month, as it added just over nine tons to its gold reserves, and the Turkish Central Bank also bought nine tons of gold last October." Uzbekistan also added nine tons, Kazakhstan three tons, and India and Qatar one ton each.

He pointed out that "Iraq maintained its global position after it climbed ten ranks in the month of July after purchasing 34 tons of gold, to reach rank 30 out of 100 countries listed in the table with the largest gold reserves, so that its possession of gold reached 130.4 tons, which represents 8.4% of the rest of its other reserves." ".

The World Council stated that "the total gold reserves of the first five Arab countries, namely, Saudi Arabia, Lebanon, Algeria, Iraq and Egypt, rose to 1,039 thousand tons as a result of the purchase of large quantities of the yellow metal by both Iraq and Egypt."

Globally, the United States of America still leads the rest of the countries with the largest possession of gold in the world at 8,133 thousand tons, followed by Germany with 3,355 thousand tons, and then Italy came with 2,451 thousand tons, while the Lao People’s Republic ranked 100th with 900 kilograms, preceded by the Republic of Cuba by one ton."

On June 27, Iraq announced the purchase of new quantities of gold, approximately 34 tons, an increase of 35% over what was in its possession.

It is noteworthy that the World Gold Council, which is based in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest and most advanced gold mining companies in the world.  link

Mot: .... Ya Gots to Love Dads' ~~~~~

Mot:  Simply Amazing How the Munchkins Can Apply Themselves As Needed!

Iraqi News Highlights Sunday Afternoon 12-4-22

Iraqi News Highlights Sunday Afternoon 12-4-22

Tlm724 Administrator Bondlady’s Corner

The Central Bank Hosts The Meetings Of The International Monetary Fund Mission In Baghdad

Political | 03:22 - 04/12/2022   Baghdad - Mawazine News   The Central Bank of Iraq announced, on Sunday, that meetings of the International Monetary Fund mission will be held in the Iraqi capital, Baghdad, on Wednesday and Thursday.

The Director of the Media Office of the Central Bank of Iraq, Omar Assem, said, "The meeting will take place on Wednesday and Thursday of this week, in the presence of the Governor of the Central Bank, Mustafa Ghaleb Makhaif, the Minister of Finance, Taif Sami, and the IMF mission team, with the invitation of representatives of the ministries of planning, electricity, labor, water resources, and the environment at the meeting," indicating The meeting, on its first day, will focus on major policy challenges.

Asim added, "On the sidelines of the visit, the mission will hold its meeting on the second day with the Iraqi Company for Financing Small and Medium Enterprises, Vitas Company, and a staff from the Banking Control Department at the Central Bank of Iraq."

He stressed, "The mission's meeting with the Central Bank of Iraq aims to develop work in the banking sector in Iraq, especially as it has gained international confidence and enhanced financial inclusion, as well as strengthening global monetary cooperation and ensuring financial stability." Ended 29 / h.

https://www.mawazin.net/Details.aspx?jimare=213203

The Central Bank hosts the meetings of the International Monetary Fund mission in Baghdad

Posted On2022-12-04 By Sotaliraq   The Central Bank of Iraq announced, on Sunday, that meetings of the International Monetary Fund mission will be held in the Iraqi capital, Baghdad, on Wednesday and Thursday.

The Director of the Media Office of the Central Bank of Iraq, Omar Assem, said, “The meeting will take place on Wednesday and Thursday of this week, in the presence of the Governor of the Central Bank, Mustafa Ghaleb Makhaif, the Minister of Finance, Taif Sami, and the IMF mission team, with the invitation of representatives of the ministries of planning, electricity, labor, water resources, and the environment at the meeting.” The meeting, on its first day, will focus on major policy challenges.

Asim added, "On the sidelines of the visit, the mission will hold its meeting on the second day with the Iraqi Company for Financing Small and Medium Enterprises, Vitas Company, and a staff from the Banking Control Department at the Central Bank of Iraq."

He stressed, "The mission's meeting with the Central Bank of Iraq aims to develop work in the banking sector in Iraq, especially as it has gained international confidence and enhanced financial inclusion, as well as strengthening global monetary cooperation and ensuring financial stability." LINK

Al-Sudani Meets With The Governor Of The Central Bank And Issues Directives Related To The Provision Of Foreign Currency

Money and business   Economy News – Baghdad   On Sunday, Prime Minister Muhammad Shia'a al-Sudani met with the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif.

A statement from Al-Sudani's office stated that the latter "listened to a briefing on the progress of regulatory work and the policies of the Central Bank in the financial and monetary sectors."

Al-Sudani directed to "conduct the necessary treatments to provide foreign currency in the local market in accordance with the mechanisms and legal systems of the Central Bank, and also to provide it to citizens wishing to travel or receive treatment outside Iraq."

And he stressed, "Going ahead with the financial and economic reform program for the financial and banking system, which was included in the ministerial curriculum, to lead the national economy to steady growth, which will reflect positively on the citizens' livelihood and their level of financial empowerment."   Views 372   Added 12/04/2022 - 2:03 PM   Updated 12/04/2022 - 5:06 PM

https://economy-news.net/content.php?id=31176

Al-Sudani Affirms The Continuation Of The Financial And Economic Reform Program For The Financial System

Sunday, December 4, 2022 1:57 PM   Baghdad / National News Center   Prime Minister Muhammad Shia al-Sudani confirmed, during his meeting with the Governor of the Central Bank, Mustafa Ghaleb Makhaif, today, Sunday, the continuation of the financial and economic reform program for the financial and banking system, which was included in the ministerial curriculum.

A statement from the Prime Minister's Office, which was received by the National News Center, stated that "Al-Sudani met this morning with the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif."

Al-Sudani listened to a briefing on the progress of regulatory work and the policies of the Central Bank in the financial and monetary sectors.

The Prime Minister directed, according to the statement, to "conduct the necessary treatments to provide foreign currency in the local market in accordance with the mechanisms and legal regulations of the Central Bank, and also to provide it to citizens wishing to travel or receive treatment outside Iraq."

The statement indicated that “Al-Sudani affirmed the continuation of the financial and economic reform program for the financial and banking system, which was included in the ministerial curriculum, to lead the national economy to steady growth, which will positively affect the citizens’ livelihood and their level of financial empowerment.”    https://nnciraq.com/169623/

The Central Bank Decides To Increase The Weekly Share Of Dollar Sales

Economy News – Special   The Central Bank of Iraq decided to increase the weekly share of dollar sales to exchange companies.

And "Al-Iqtisad News" obtained a document issued by the Central Bank and bearing the signature of Deputy Governor Ammar Hamad Khalaf, and addressed to banks, exchange companies and mediation companies, in which it stated, "Based on the objectives of the Central Bank to achieve stability in the general level of prices and exchange rates and to meet the high demand for currency Foreigners in the local markets decide to increase the weekly share of dollar cash sales.

The Central Bank called on exchange companies to submit applications, starting tomorrow, Monday, as the share of the exchange company with a rating of A will amount to 1.8 million dollars, an exchange company with a rating of B will amount to 750 thousand dollars, a brokerage company with a rating of C will amount to 80 thousand dollars, and the bank will have 200 thousand dollars.

He stressed that the Central Bank is ready to meet the needs of all citizens of foreign currencies according to the purposes allowed for financing, in addition to financing electronic payment cards that are used in payment operations outside Iraq at an exchange rate of 1470 dinars to one dollar.

Views 212   Added 12/04/2022 - 4:08 PM   Updated 12/04/2022 - 5:04 PM

https://economy-news.net/content.php?id=31177

In The Document.. The Central Bank Announces An Increase In Dollar Cash Sales To Reduce Its Exchange Rate And Address The Current Rise

Sunday 04 December 2022 17:11 | Economical Number of readings: 10

Baghdad / NINA / - The Central Bank of Iraq announced an increase in dollar cash sales to reduce the exchange rate of the dollar and address the current rise.

And the bank affirmed, "its readiness to meet the needs of all citizens of foreign currencies according to the purposes allowed to be funded by law, in addition to financing the electronic payment card that is used in payment operations outside Iraq at an exchange rate of 1470 dinars to one dollar." / End h

https://ninanews.com/Website/News/Details?key=1018077

Head Of The Association Of Private Banks Wadih Al-Handal: We Are Working With The Government To Develop The Banking Sector

Money and business   Economy News – Baghdad   The head of the Iraqi Private Banks Association, Wadih al-Handal, confirmed on Sunday that the association is working with the government to develop the Iraqi banking sector and address weaknesses.

In his speech during the Erbil 2022 Banking Sector Development Conference, Al-Handal said, "The Iraqi Private Banks Association worked jointly with the Central Bank to establish an empowerment initiative to implement community initiatives in all governorates with support and financing for the banking sector."

He added, "The Association is working with the government to implement the Cabinet's decisions regarding the development of Iraqi banks, diagnosing weaknesses in the banking sector, and identifying ways to address them," noting that "routine and financial and administrative corruption are among the most important challenges facing all sectors in Iraq."

He stressed, "Erbil enjoys stability and provides an attractive environment for investment and banking work, and the Association aspires to work together with the Kurdistan Regional Government to develop and support various projects through the initiatives of the Central Bank of Iraq."

Al-Handal explained, "The Association of Iraqi Private Banks is working with the Central Bank of Iraq to finance and develop small and medium enterprises in various sectors."

In turn, the Director General of the Banking Studies Department at the Central Bank of Iraq, Basem Abdul Hadi, said, "The Central Bank has important positions in supporting the Iraqi economy through the banking sector by launching development initiatives that included various sectors."

Abdul-Hadi added, in his speech during the conference, that "the central bank has taken effective steps to develop the banking sector, including conducting mandatory training for workers in the banking sector," stressing that "the banking sector in Iraq faces great challenges, the most important of which is mutual trust between the public and banks, and the central bank is making efforts in this regard." the field".

For his part, the Governor of Erbil, Omid Khoshnaw, said at the Banking Sector Development Conference, "Kurdistan has been working for a long time to develop the banking sector in a way that is reflected in simplifying procedures to attract capital to Iraq and Kurdistan and thus achieve the goals of development and prosperity."

He continued, "Achieving economic stability will lead to attracting foreign investment and building fruitful economic relations with neighboring countries," noting that "the Kurdistan region is working with Baghdad to build the establishment of a large banking system capable of facing the challenges of money laundering and corruption." Views 124   Added 12/04/2022 - 1:17 PM   Updated 12/04/2022 - 5:09 PM

https://economy-news.net/content.php?id=31175

OPEC + Decides To Maintain Current Oil Production Levels

Economie| 03:50 - 04/12/2022    Baghdad - Mawazine News, the “OPEC +” group announced, in a statement issued by its ministerial meeting today, Sunday, to maintain the path approved last October to reduce oil production by two million barrels per day.

The statement stated that the next meeting of the alliance, which includes the 13 member states of the Organization of Petroleum Exporting Countries (OPEC) led by Saudi Arabia, and its ten allies led by Russia, will be held on June 4, 2023.

The members of “OPEC +” confirmed in the statement their readiness to meet at any time and take the necessary additional measures. In response to market conditions in order to maintain a balance of supply and demand.

Participants in the meeting told "Agence France Presse" that the decision to maintain current production levels came in light of an unstable climate on the eve of the entry into force of new sanctions targeting Russian crude. Ended 29 / H    https://www.mawazin.net/Details.aspx?jimare=213205

The Dollar Is Rising Again In The Iraqi Market

Economy | 09:45 - 04/12/2022   Baghdad - Mawazine News  The exchange rates of the dollar rose today, Sunday, on the local stock exchange.   Selling price: 149,700 dinars per 100 dollars  Buying price: 149,600 dinars per 100 dollars   https://www.mawazin.net/Details.aspx?jimare=213178

Al-Sudani Directs To Conduct The Necessary Treatments To Provide Foreign Currency In The Local Market

Political | 01:54 - 04/12/2022   Baghdad - Mawazine News, Prime Minister Muhammad Shia Al-Sudani met, on Sunday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif.

A statement from Al-Sudani's office stated that the latter "listened to a briefing on the progress of regulatory work and the policies of the Central Bank in the financial and monetary sectors."

Al-Sudani directed to "conduct the necessary treatments to provide foreign currency in the local market in accordance with the mechanisms and legal systems of the Central Bank, and also to provide it to citizens wishing to travel or receive treatment outside Iraq."

And he stressed, "Going ahead with the financial and economic reform program for the financial and banking system, which was included in the ministerial curriculum, to lead the national economy to steady growth, which will reflect positively on the citizens' livelihood and their level of financial empowerment."    https://www.mawazin.net/Details.aspx?jimare=213196

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

https://www.bondladyscorner.com/

"Tidbits From TNT" Sunday Morning 12-4-2022

TNT:

Tishwash:  The Central Bank hosts the meetings of the International Monetary Fund mission in Baghdad

The Central Bank of Iraq announced, on Sunday, that meetings of the International Monetary Fund mission will be held in the Iraqi capital, Baghdad, on Wednesday and Thursday.

The Director of the Information Office of the Central Bank of Iraq, Omar Assem, said, "The meeting will take place on Wednesday and Thursday of this week, in the presence of the Governor of the Central Bank, Mustafa Ghaleb Makhaif, the Minister of Finance, Taif Sami, and the IMF mission team, with the invitation of representatives of the ministries of planning, electricity, labor, water resources, and the environment at the meeting," indicating The meeting, on its first day, will focus on major policy challenges.

Asim added, "On the sidelines of the visit, the mission will hold its meeting on the second day with the Iraqi Company for Financing Small and Medium Enterprises, Vitas Company, and a staff from the Banking Control Department at the Central Bank of Iraq."

He stressed, "The mission's meeting with the Central Bank of Iraq aims to develop work in the banking sector in Iraq, especially as it has gained international confidence and enhanced financial inclusion, as well as strengthening global monetary cooperation and ensuring financial stability."  link

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RVAlready:  Thanks Tish!!!!!! An IMF meeting for several days in Iraq this week! Light up a huge sign on the CBI building saying, RV COMING!!!

Sandybay89:  The Iraqi government is complete. A major hurdle accomplished. Let’s see what this week brings. TNT Tony #wearethepeople

RVAlready:  I am encouraged that there is now a seated government. It means the CBI could push the button any time with no warning.

CaliforniaSugar:  A member of the Finance Committee, Nermin Maarouf, stated that "The Council of Ministers may vote in the Tuesday session of this week on the draft budget law." Come on RV!!

AI:  Tweet from Iraq….. Prime Minister @mohamedshia , announced the recovery of 182.7 billion Iraqi dinars as the first part of the embezzled 1.681270 trillion Iraqi dinars that will be recovered within two weeks

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Tishwash:  Al-Sudani meets with the Governor of the Central Bank and confirms the continuation of the financial and economic reform program for the financial and banking system

The Prime Minister, Muhammad Shia'a Al-Sudani, met with the Governor of the Central Bank.

Al-Sudani affirmed the continuation of the financial and economic reform program for the financial and banking system 

Today, Sunday, Prime Minister Muhammad Shia Al-Sudani met with the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif.

The media office of the Prime Minister stated that "Al-Sudani met with the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, following up the progress of organizational work and the policies of the Central Bank in the financial and monetary sectors." According to the statement received (Baghdad Today).

He added, "Al-Sudani listened briefly to the progress of the regulatory work and the policies of the Central Bank in the financial and monetary sectors." He directed: "To conduct the necessary treatments to provide foreign currency in the local market in accordance with the mechanisms and legal systems of the Central Bank, and also to provide it to citizens wishing to travel or receive treatment outside Iraq."

The Prime Minister affirmed, according to the statement, "the continuation of the financial and economic reform program for the financial and banking system, which was included in the ministerial curriculum, to lead the national economy to steady growth, which will reflect positively on the citizens' livelihood and their level of financial empowerment." link

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Tishwash:  Bypassing Mexico and Saudi Arabia... Iraq is the second largest oil exporter to America within a week

The US Energy Information Administration announced, on Sunday, that Iraq ranked second among oil exporters to America, overtaking Mexico and Saudi Arabia during the past week.

"The average US imports of crude oil during the past week from nine countries amounted to 5.417 million barrels per day, down by 182,000 barrels per day from the previous week, which amounted to 5.417 million barrels per day," the administration said in a report seen by Shafaq News agency.

She added, "Iraq's oil exports to America amounted to an average of 363,000 barrels per day last week, bypassing both Mexico and Saudi Arabia, and thus Iraq ranks second in its oil exports to America after Canada."

She also indicated that "most of America's oil revenues during the past week came from Canada at a rate of 3.354 million barrels per day, and Saudi Arabia came after Iraq at a rate of 338 thousand barrels per day, and oil revenues from Mexico amounted to an average of 300 thousand barrels per day, and then Colombia at a rate of 290 thousand barrels per day.”

According to the administration, "the amount of US imports of crude oil from Ecuador amounted to an average of 242,000 barrels per day, from Brazil at an average of 212,000 barrels per day, from Libya at an average of 85,000 barrels per day, and from Nigeria at an average of 50,000 barrels per day, while it did not import any quantity from Russia.   link

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Tishwash:  Al-Sudani announces Iraq's participation in the Arab-Chinese Summit in Saudi Arabia

Today, Sunday, Prime Minister Muhammad Shia al-Sudani announced Iraq's participation in the Arab-Chinese summit in Saudi Arabia. 

Al-Sudani's media office said in a statement received by (Baghdad Today) that "Prime Minister Muhammad Shia'a Al-Sudani received the Ambassador of the People's Republic of China to Iraq Cui Wei, and during the meeting they discussed the consolidation and development of bilateral relations between the two countries, in the economic and cultural fields, as well as in my fields." energy and investment. 

And Al-Sudani indicated, according to the statement, that "Iraq has adopted the principle of balance in foreign relations, in a way that enhances its stability and achieves the interests of its people and the security of the region," noting "the government's desire to expand the horizons of bilateral cooperation with China in various sectors."

Al-Sudani confirmed during the meeting, "Iraq's participation in the Arab-Chinese summit to be held in the Saudi capital, Riyadh."

For his part, "the Chinese ambassador conveyed the greetings of the Chinese leadership to the Prime Minister, and its keenness to maintain relations of cooperation and partnership with Iraq    link

Mot:  .. When Ya Super Clean da Windows ... Dang! ~~

Mot:  ... soooooo Just What are Bestest Friends fer Anyways! ~~~

Iraqi News Saturday Evening 12-3-22

Iraqi News Saturday Evening 12-3-22

Tlm724 Administrator Bondlady’s Corner

The Minister Of Oil Confirms The Agreement On The Commitment Of The Organization Of Petroleum Exporting Countries (OPEC) To The Production Rates And The Quantities Of The Planned Cuts

Saturday 03 December 2022 16:57 | politicalNumber of readings: 140  Baghdad / NINA / - The Deputy Prime Minister and Minister of Oil affirmed the commitment of the member states of the organization to the production rates, rates and quantities of reduction decided until the end of 2023.

He said during his participation in the ministerial meeting of the member states of the Organization of Petroleum Exporting Countries "OPEC" via the electronic circuit, according to a statement by the Ministry of Oil: The meeting affirmed the keenness of OPEC members to work on stabilizing the oil markets and achieving the required balance.

Abdul-Ghani indicated that the meeting program included discussion and review of the oil market developments, in addition to discussing a number of axes on the agenda of the meeting and taking decisions on them.

On the ministerial meeting of “OPEC Plus”, the Minister of Oil said: The meeting will be held tomorrow, Sunday, via the electronic circuit, and includes a review of developments in the oil market and the challenges facing producers, and an emphasis on the decisions of “OPEC Plus” regarding reducing production to the prescribed quantities, to achieve more stability and balance in the market. oil.”/ End h

https://ninanews.com/Website/News/Details?key=1017895

Chihod Demands The Establishment Of An Iraqi National Mobile Phone Company

Saturday 03 December 2022 11:51 | Economical Number of readings: 318   Baghdad / NINA / The representative of the State of Law coalition, Muhammad Saadoun Al-Sayhoud, called on the government to establish an Iraqi national mobile phone company.

Al-Saihoud said in a press statement today that: the establishment of an Iraqi national mobile phone company has become an urgent necessity to reduce the violations of mobile phone companies that are now operating without supervision or accountability in draining the country's money despite their poor quality and their practice of extortion policy, and therefore the increase in the prices of packages and communication in exchange for lower prices The packing cards are nothing but conclusive evidence of the power of these companies and their lack of compliance with the state’s standards and controls.

” He added, “The establishment of an Iraqi national mobile phone company will lead to an increase in the state’s revenues instead of going into the pockets of investors who steal the people’s livelihood. Rather, it will be a real competitor to them.” in the country instead of their hegemony and their reluctance to pay the debts owed by them to the state, which amounted to billions of dinars.

https://ninanews.com/Website/News/Details?Key=1017820

The Exchange Rates Of The Dollar Against The Dinar

Economie| 10:55 - 03/12/2022   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 149,500 dinars per 100 dollars, while the buying price of the dollar was 149,400 dinars per 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=213094

Expert: The Price Of A Barrel Of Oil May Exceed $100

Economie| 02:06 - 03/12/2022   Follow-up - Mawazine News, head of the Center for Energy Development, Kirill Melnikov, said that oil prices in the global market may exceed $100 a barrel, after Western countries imposed a ceiling on the price of Russian oil at $60.

According to the expert, this decision may lead to a reduction in the quantities of Russian oil exported abroad.

Yesterday, Friday, the European Union countries agreed to impose a ceiling on the price of Russian oil, which is transported by sea, at $ 60 a barrel, and the Council of the European Union is scheduled to approve the decision today, Saturday.

It is expected to implement an adjustment mechanism that will allow the price of Russian oil to be at least 5% lower than the market price.

The expert added: “The ceiling itself does not matter, because Russian companies will not sell oil according to it in any way. Because of this, Russian oil supplies will be cut off with the help of European shipping and insurance companies, which may reduce exports from Russia by 1-1.5 million barrels per day in the period.” December to January This will probably push oil prices above $100 a barrel.” Ended 29/N33     https://www.mawazin.net/Details.aspx?jimare=213113

The Central Bank Sets A Date For Offering The New 20,000 Dinars Currency

Economie| 06:55 - 02/12/2022   Baghdad - Mawazine News    The Central Bank of Iraq confirmed, on Friday, that the cash reserve exceeded 160% of the value of the Iraqi dinar, and while confirming the increase in the cash reserve exceeding $90 billion, it expected the 20,000 currency to be offered at the end of next year, confirming at the same time that it would grant 15 trillion dinars. As loans for projects in four areas.

And the central bank advisor, Ihsan al-Yasiri, said, “For the first time, the central bank’s reserves exceeded the threshold of 90 billion dollars, as this number is very large and indicates a barrier to the recovery of the economy and a great support for the value of the Iraqi currency,” noting that “the value of the Iraqi currency or the balance exceeded 160.” %, as the value of the Iraqi dinar amounted to more than one and a half dinars.

He added, "The Iraqi currency is now witnessing a significant rise and recovery, as it is considered one of the strong international currencies, although it is not an international currency for circulation," noting that "the government and the Ministry of Finance have an opportunity to assign fragile and poor groups and retirees with low salaries and those covered by social protection and retirees through this Funds by allocating part of it within the 2023 budget.

Regarding banking control procedures, Al-Yasiri said: "The government program is concerned with controlling government banks, and private banks, since the latter are part of the banking sector and are covered by government control measures."

He pointed out that "the Central Bank has shifted from its traditional policy, which is represented by pursuing stability and issuing cash and others, to a large development institution, as it launched a development fund whose funds exceeded 18 trillion dinars," noting that "this fund contributed to bridging the government financing gap as a result of security and economic challenges and price drops." successive oil since 2014 until now.

He continued, "The bank launched initiatives and projects through loans that exceeded 15 trillion dinars for industry, agriculture, housing and trade projects," noting that "the initiatives also included empowering women and unemployed youth," in addition to allocating billions of dinars from bank funds to support cultural institutions, including rehabilitation. Al-Mutanabbi Street, churches, mosques and theatres.

Regarding the new 20,000 dinars category, Al-Yasiri stressed that "the 20,000 dinars category is an intermediate currency between 25,000 and 10,000, as it will have a role in redrawing the structure of banknotes," noting that "this category will be acceptable and with high security specifications."

And he continued, "The issuance of this category is not related to the budget, since the central bank has an independent budget, but rather it is related to printing procedures, choosing colors and security marks," suggesting, "The issuance of this currency at the end of 2023." Ended 29 / H

https://www.mawazin.net/Details.aspx?jimare=213050

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

https://www.bondladyscorner.com/

Iraqi News Saturday Afternoon 12-3-22

Iraqi News Saturday Afternoon 12-3-22

Tlm724 Administrator Bondlady’s Corner

In A Week, The Central Bank's Sales Exceeded $700 Million

Economie  Saturday, December 3, 2022    Follow-up / National News Center   The Central Bank of Iraq's sales in the hard currency auction for dollars during the past week amounted to more than 700 million US dollars.

Where the Central Bank sold during the past week for the five days in which the auction was opened, starting from Sunday to Thursday, the amount of 715 million and 487 thousand and 645 dollars, at a daily rate of 143 million and 97 thousand and 529 dollars, up by 16.26% from the previous week.

And that the highest dollar sales during the past week were on Wednesday, when sales amounted to 167 million and 816 thousand dollars, while the lowest sales were on Tuesday, when sales amounted to 124 million and 991 thousand and 651 dollars.

It is noteworthy that most of these sales went in the form of transfers abroad to finance "foreign trade", while the sale price of the dollar transferred to bank accounts abroad, in addition to cash sales, reached 1460 dinars per dollar.   https://nnciraq.com/169234/

Central Bank: Foreign Exchange Reserves Increased To More Than 90 Billion Dollars

Friday 02 December 2022 21:43 | Economical Number of readings: 426   Baghdad / NINA / - The Central Bank announced today, Friday, that the cash reserves exceeded 160% of the value of the Iraqi dinar.

"The central bank's reserves exceeded for the first time the threshold of 90 billion dollars, which is a very large number, and represents an indication of the recovery of the Iraqi economy, and a great support for the value of the Iraqi currency," said the Central Bank's advisor, Ihsan al-Yasiri, in a statement to the official agency.

He added: "The Iraqi currency is now witnessing a great rise and recovery, as it is one of the strong international currencies, although it is not an international currency for circulation."

Al-Yasiri explained: "The government and the Ministry of Finance have an opportunity to support the fragile and poor groups and retirees with low salaries and those covered by social protection and retirees through these funds by allocating part of them within the 2023 budget."/ End 3

https://ninanews.com/Website/News/Details?key=1017736

Integrity: Recruitment Of The Former Director General Of The General Authority For Taxes

Today, Saturday, the Federal Integrity Commission announced the issuance of an order to bring in the Director General of the General Tax Authority (formerly), indicating that the order came on the background of the charge of intentionally causing damage to the funds and interests of the entity in which he works.

And a statement by the authority stated that “the investigation department of the authority, while speaking about the case, reported that the investigation court specialized in integrity issues in Maysan issued a recruitment order against the director general of the General Authority for Taxes (formerly), as a result of the violations committed in the lease contract for the authority’s building - Maysan branch.” In the report of the Federal Office of Financial Supervision - Audit Department of the second region.

The department added, in a statement, that “the contract was in violation of the controls and instructions, due to the lack of financial allocation and cash liquidity, knowing that the amount of the rent amounted to (60) million dinars, and that the rent took place without the approval of the General Authority for Taxes, in addition to the small area of ​​the building and its unsuitability as a headquarters for the authority’s branch.”

in the governorate, and the absence of regular inquiries and rest for auditors," pointing to "the lack of safety and fire prevention conditions, and the presence of kiosks and shops adjacent to the building."

And she explained that "the investigation court specialized in integrity issues in Maysan issued a recruitment order in accordance with the provisions of Article (340) of the amended Penal Code No. (111 of 1969)."    https://www.radionawa.com/all-detail.aspx?jimare=32404

The Iraqi Business Council And The International Monetary Mission Discuss Economic Developments And Issue A Number Of Recommendations

Saturday 03 December 2022 09:18 | Economica lNumber of readings: 190   Baghdad / NINA / - The Iraqi Business Council in Amman discussed with the International Monetary Fund mission to Iraq, the most prominent local economic developments and expectations in Iraq, ways to develop the private sector and support the business environment.

During the meeting held at its headquarters in Amman, the Council presented many recommendations and proposals, centered on the need to address the issue of random employment, which is a burden on the Iraqi state budget, and to review the phenomenon of multiple salaries for employees.

According to a statement by the Council today, it was recommended that the Iraqi Financial Supervision Bureau supervise the work of all ministries, bodies and companies associated with them, and find long-term plans for the development of economic sectors and various infrastructures in Iraq, including the electricity sector.

The Council recommended the need to stabilize the exchange rate of the local Iraqi currency fluctuating between the central bank rate and the free market rate for exchange offices outside the central bank, opening qualified training centers for training and developing human resources, creating clear legislation for the energy sector, especially renewable energy, and setting up a correct mechanism for calculating tariffs and collection method.

The Council recommended activating the partnership between the private and public sectors and benefiting from the sustainable development programs for Iraq that were supported by international organizations, as those funds that were allocated to build a sustainable economy and implement the Iraqi private sector development strategy (2014 and 2030) were not employed within the time specified in the strategy to reach for true partnership between the two sectors.

It is noteworthy that the Iraqi Business Council in Amman was established in 2006, and it is a forum for businessmen to exchange views, ideas and business information, provide job opportunities through trade and social missions, and introduce existing investment opportunities in Jordan and Iraq./ End 9

https://ninanews.com/Website/News/Details?key=1017769

Economist: Canceling The Mobile Phone Tax Will Activate The Economic Movement..And It Is Better To Buy A Satellite For Iraq

Saturday 03 December 2022 11:01 | Economical Number of readings: 252   Baghdad / NINA / - The economist, Safwan Qusay, confirmed that the abolition of the mobile phone tax will reduce non-oil revenues by close to a trillion Iraqi dinars, but it will contribute to alleviating the burden of Iraqis and activate the economic movement in other sectors, while Qusay called for the purchase of one or more satellites that operate In favor of Iraq and stop draining Iraqi funds that go to non-Iraqi satellites.

Qusai said in a statement to the National Iraqi News Agency ( NINA ): "Stopping the sales tax on communication services in Iraq, amounting to 20% of its value, comes in line with the Sudanese government's service program, which is trying to mitigate the effects of the high cost of life on Iraqi families, and in line with the approach followed." To transform the Iraqi economy into a digital economy by rehabilitating the communications sector for its importance in this transformation.

He added, "Although this measure will reduce non-oil revenues by close to a trillion Iraqi dinars, it will contribute to alleviating the burden of Iraqis and stimulate the economic movement in other sectors."

He stressed that "Iraq must direct investment in this sector through the purchase of one or more satellites that work for the benefit of Iraq and stop draining Iraqi funds that go to non-Iraqi satellites, and also contribute to preserving the confidentiality of Iraqi information."

And he continued: "The Iraqis are also looking forward to obtaining high-quality services in the telecommunications sector and increasing revenues from the transit of electronic capacities through it, because it has the most important geographical location to cross these capacities between the countries of the region."/ End 8   https://ninanews.com/Website/News/Details?key=1017806

Head Of The Legal Committee Of / Nina /: 120 Bills Awaiting Inclusion In Legislation

Saturday 03 December 2022 10:12 | political Number of readings: 340  Baghdad / NINA / - The head of the Parliamentary Legal Committee, Muhammad Anouz, revealed that there are 120 draft laws awaiting inclusion in the Parliament's agenda for legislation.

Anouz said in a statement to the National Iraqi News Agency / NINA /: "The Presidency of the House of Representatives is the one that determines the laws on the agenda, as a political agreement is reached first on the draft law and then it is included on the agenda," noting: "The draft laws sent by The government has priority in legislation now.”

And he stressed: "Any law included in the parliament's agenda will be the content of the vote because there is a political agreement between the blocs on it," pointing out: "The return of quotas and nepotism to legislative work in the committees and passing laws in one basket."/

https://ninanews.com/Website/News/Details?Key=1017787

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

https://www.bondladyscorner.com/

More News, Rumors and Opinions Saturday Afternoon 12-3-2022

TNT:

Skinman:  Does anyone know the tentative schedule for voting on the budget or announcing the completion of the government?

Speedy:  Vote on the budget Tuesday.

KMan:  So now the Iraq government is fully seated. Now all we need is a budget completed, hopefully this month, and then away we go, as Jackies Gleason used to say...lol

Yada:  KMAN it will be this month. It will be this week coming because their parliament session ends. Waiting till the last minute. But, as tony stated yesterday, now that the government is formed, the CBI can release the rate now.

Skinman:  Is it voted on Tuesday or are they just reading it through because I know that has to happen a few times before they can vote

Yada:  My understanding is they will read it and open for discussion but they've negotiated enough to make it spread without putting holes in the bread.

Skinman:  Wow, so they announce the seated government may be the same time they announce the budget or voted in? Then there would be nothing in the way of this happening I think?

Yada:  Agreed skinman. I know it hadn't been discussed much but I the EFSL is still law and could release the rate but we are at the end and all the info pieces are fitting together, we they are keeping the view close to their chest.

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

Courtesy of Dinar Guru

Frank26   Notice how they constantly talk about the exchange rate.  I don't care if they deny it or once again repeat it.  None of this is important...The most important thing is that they are talking about it and doing it.  That is a pattern not to be ignored.  Like I told you 2 weeks ago the CBI would be talking a lot from now on and they are aren't they...

Walkingstick  [via Frank26]   [Walkingstick's Iraqi Bank partner/friend update]   Iraqi BANK FRIEND:  When they announce the government of Iraq is finally seated the new budget will be introduced to parliament...The budget is a number of laws within a law.  It is at that time that they will expose the laws.  These laws will be read upon the receiving the budget to parliament.  The reading of the budget laws by line item...will reveal the exchange rate. 

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KTFA:

Clare:  The Iraqi Parliament completes the cabinet of the Sudanese government by granting confidence to two ministers

2022-12-03

 The Iraqi Parliament voted, today, Saturday, to grant confidence to the Minister of Construction, Housing, Municipalities and Public Works, Bankin Abdullah Rikani, and to the Minister of Environment, Nizar Muhammad Saeed Amidi.

Shafaq News agency reporter said that the parliament held its session headed by Muhammad al-Halbousi, Speaker of Parliament, after the completion of the legal quorum, in the presence of 208 members.

A statement issued by the Media Department of the House of Representatives stated that an absolute majority voted to grant confidence to the two ministers, and thus the ministerial cabinet of the current federal government headed by Prime Minister Mohamed Shia Al-Sudani has been completed.

It is noteworthy that the House of Representatives had voted, at the end of last October, on the cabinet of the Sudanese, with the exception of the ministries of Environment, Construction and Housing, due to the differences that took place over the two positions by the two Kurdish parties (the Kurdistan Democratic Party and the Patriotic Union of Kurdistan).

The political agreements that preceded the formation of the government determined the share of the Kurdish component in four ministries, in addition to the position of the President of the Republic and the second deputy speaker of Parliament.   LINK

KandG:  IMO - They said they would do it today... And they actually did!!!  You go Sudani!!!
Next... the 2023 budget.

JaimeO:  Yepper - having lived in the Middle East long before this forum existed - this a brand new Iraq regardless of the naysayers still spouting negativity.   Thanks goes out to the UN, IMF, UST and others who gave them a push.  Regardless of their motive - the citizens of Iraq and us as investors, will receive the blessings.  IMO

Ewtohan:  Am I reading this that we now have a fully seated/announced Government in Iraq?? Does this mean the proverbial Ball is now in the court if they CBI ?  

Zeeman:  yes they were given a big push to get this far….. this is now my question since they have a seated gov the cbi can change the value if they want to. So will they do it?  imo

Clare:   The House of Representatives adjourns its session to next Monday

03/12/2022

The Presidency of Parliament adjourned, on Saturday, the 15th session to next Monday.

Today's session witnessed the vote on Bankin Rikani as Minister of Construction, Housing, Municipalities and Public Works, and Nizar Muhammad Saeed Namidi as Minister of Environment.

The session also witnessed the completion of the first reading of several draft laws, including the draft law on freedom of expression, assembly and peaceful demonstration   LINK

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Henig:  Al-Sudani and Allawi stress the importance of supporting the government's actions in combating corruption

12-2-2022

Baghdad / NINA / - The Prime Minister, Muhammad Shia'a Al-Sudani, visited the former Prime Minister and leader of the National Coalition, Iyad Allawi.

The meeting witnessed, according to a statement by Al-Sudani's office, a discussion of the general situation in the country, and an emphasis on the importance of the government proceeding with the implementation of service projects directly related to the lives of citizens, and attributing the measures it has taken in the field of combating corruption.    LINK

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Henig:  The Iraqi Business Council and the International Monetary Mission discuss economic developments and issue a number of recommendations

Baghdad / NINA / - The Iraqi Business Council in Amman discussed with the International Monetary Fund mission to Iraq, the most prominent local economic developments and expectations in Iraq, ways to develop the private sector and support the business environment.

During the meeting held at its headquarters in Amman, the Council presented many recommendations and proposals, centered on the need to address the issue of random employment, which is a burden on the Iraqi state budget, and to review the phenomenon of multiple salaries for employees.

According to a statement by the Council today, it was recommended that the Iraqi Financial Supervision Bureau supervise the work of all ministries, bodies and companies associated with them, and find long-term plans for the development of economic sectors and various infrastructures in Iraq, including the electricity sector.

The Council recommended the need to stabilize the exchange rate of the local Iraqi currency fluctuating between the central bank rate and the free market rate for exchange offices outside the central bank, opening qualified training centers for training and developing human resources, creating clear legislation for the energy sector, especially renewable energy, and setting up a correct mechanism for calculating tariffs and collection method.

The Council recommended activating the partnership between the private and public sectors and benefiting from the sustainable development programs for Iraq that were supported by international organizations, as those funds that were allocated to build a sustainable economy and implement the Iraqi private sector development strategy (2014 and 2030) were not employed within the time specified in the strategy to reach for true partnership between the two sectors.

It is noteworthy that the Iraqi Business Council in Amman was established in 2006, and it is a forum for businessmen to exchange views, ideas and business information, provide job opportunities through trade and social missions, and introduce existing investment opportunities in Jordan and Iraq.  LINK

**

Henig:  The United Nations High Representative for the Alliance of Civilizations arrives in Baghdad

12-3-2022

Baghdad / NINA / - The United Nations High Representative for the Alliance of Civilizations, Miguel Angel Moratinos, arrived in Baghdad to participate in the Forum of Ancient Civilizations.

"The representative of the Secretary-General of the United Nations, the United Nations High Representative for the Alliance of Civilizations, Miguel Angel Moratinos, and his accompanying delegation arrived in Baghdad, to participate in the Forum of Ancient Civilizations, in its sixth edition," said Ahmed Al-Sahhaf, spokesman for the Forum, in a statement.

Tomorrow, Sunday, the works of the sixth edition of the "Forum of Ancient Civilizations" will begin in the capital, Baghdad, under the auspices of the Ministry of Foreign Affairs and in the presence of Arab and foreign representatives of international, UN and diplomatic missions.

The forum will be held with the participation of Iraq - as president and host, Greece, China, Egypt, Iran, Mexico, Italy, Bolivia, Peru and Armenia.   LINK

"Tidbits From TNT" Saturday Morning 12-3-2022

TNT:

CandyKisses:  The Iraqi Parliament completes the cabinet of the Sudanese government by granting confidence to two ministers

Today, Saturday, the Iraqi Parliament voted to grant confidence to the Minister of Construction, Housing, Municipalities and Public Works, Bankin Abdullah Rikani, and to Minister Nizar Muhammad Saeed Amidi.

Shafaq News agency reporter said that the parliament held its session headed by Muhammad al-Halbousi, Speaker of Parliament, after the completion of the legal quorum, in the presence of 208 members.

A statement issued by the Media Department of the House of Representatives stated that an absolute majority voted to grant confidence to the two ministers, and thus the ministerial cabinet of the current federal government headed by Prime Minister Mohamed Shia Al-Sudani has been completed.

It is noteworthy that the House of Representatives had voted, at the end of last October, on the cabinet of the Sudanese, with the exception of the Ministries of Environment, Construction and Housing, as a result of the differences that took place over the two positions by the two Kurdish parties (the Kurdistan Democratic Party and the Patriotic Union of Kurdistan), as the political agreements that preceded the government specified a share The Kurdish component has four ministries, in addition to the position of the President of the Republic, and the second deputy speaker of Parliament.

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RVAlready:  Yeah Baby!!! Cabinet done. Another possible RV hurdle put to bed. GO RV!!!  Now, we just need a surprise announcement from the CBI.

Annie68:  I don't think that news is very far away!!

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Tishwash:  The Speaker of the British Parliament stresses the importance of Iraq adopting an active role to limit foreign interference.

The Speaker of the British Parliament, Lindsey Hoyle, stressed, on Friday, the importance of Iraq adopting an active role in limiting the destabilizing external interventions in the region.

And the Ministry of Foreign Affairs stated in a statement, a copy of which Mawazine News received, that "the Ambassador of the Republic of Iraq in London, Muhammad Jaafar al-Sadr, met with the Speaker of the British Parliament, Lindsay Howell, at the British Parliament headquarters."

During the meeting, the ambassador appreciated the efforts made by the United Kingdom to combat the terrorist organization ISIS through its participation in the international coalition, expressing Iraq's desire to cooperate with the British side in various fields.

The ambassador welcomed the "reformation of the group of all parties for Iraq in the British Parliament," expressing his "aspiration for the members of the group to visit Iraq to open horizons for parliamentary cooperation between the two countries."

And he stressed, "Iraq will not be part of the axes in the region, but rather seeks to be a meeting point for all parties to gather on its soil, and that this desire culminated in the holding of the Baghdad Conference for Cooperation and Partnership in Baghdad in 2021, just as the visit of Prime Minister Muhammad Shia' al-Sudani to Kuwait, Jordan and Iran are a realistic reflection of this strategy."

The ambassador presented the Iraqi flag to the Speaker of Parliament to be among the flags of other countries inside the British Parliament building.

For his part, Lindsey Howell expressed the United Kingdom's desire to provide full support to Iraq to assume its leading role in the region, and the United Kingdom's aspiration for Iraq to enjoy security, stability, independence and prosperity, pointing to "the importance of Iraq adopting an active role to limit destabilizing external interference in the region."   link

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CandyKisses:  Next Sunday. Oil experts say OPEC and its allies are likely to resort to "new" production cuts

Energy analysts said that oil producers from OPEC and non-OPEC from the OPEC+ group may decide to reduce oil production next Sunday, as the alliance tries to limit the potential effects of the European Union's decision to impose sanctions on Russian crude exports and the possibility of imposing a certain ceiling on Russian oil prices.

OPEC+, a group of 23 oil producers led by Saudi Arabia and Russia, will meet on Sunday to decide on the next phase of production policy.

The meeting comes ahead of the imposition of "devastating" sanctions on Russian crude and the possibility of a decline in Chinese demand for crude, raising fears of a recession that could eventually lead to lower prices.

Claudio Galimberti, an analyst at energy consultancy Rystad, told CNBC from OPEC's headquarters in Vienna that the group would do well to change its current output policy.

Reports that OPEC+ is considering production cuts based on falling demand, especially in China, over the past few days.

Players in the global energy market remain concerned about EU sanctions on Russia's exports of seaborne crude, which will take effect on the fifth of this month.

In addition, the prospect of a cap on Russian oil prices by the Group of Seven increases uncertainty in the oil market.

The 27-nation European Union agreed in June to ban the purchase of Russian seaborne crude from Dec. 5 as part of a concerted effort to curtail Moscow's imports following its invasion of Ukraine.

However, concern that a total ban on imports of Russian crude could lead to higher oil prices, has prompted the Group of Seven major industrialized nations to consider capping the price of Russian crude.

No formal agreement has been reached so far, although Reuters reported on Thursday that EU governments had agreed in principle to a cap on the price of Russian seaborne oil at $60 a barrel.

"The other factor OPEC has to consider is the price cap, and this increases the uncertainty" in the oil market, Galimberti said.

The OPEC+ alliance recently hinted it could impose deeper production cuts to stimulate prices, which have fallen over the past three weeks but have risen slightly on Friday, two days before the expected meeting.

Reuters says the OPEC+ group is widely expected to stick to its latest target of cutting oil output by two million barrels per day when it meets on Sunday, but some analysts believe crude prices could fall if the group does not decide on further cuts.

OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies led by Russia, turned Sunday's meeting, which was due to be live in Vienna, into a virtual online meeting, which sources in the group say suggests policy may remain unchanged.

The group agreed in early October to cut its oil production target of 2 million barrels per day from November until the end of 2023.

Given the production constraints imposed on some members of the group, the expected actual cut by OPEC+ is close to 1 million to 1.1 million barrels per day.

Sources told Reuters that OPEC+ now wants to assess the impact of the looming price cap on the market and get a clearer picture of the outlook for oil demand in China, the world's biggest crude importer, which is expected to ease strict coronavirus restrictions after unprecedented protests.

However, some analysts do not rule out a surprise, warning that with supply currently in the market, OPEC+ risks a downturn in the price of oil if it does not cut production targets further at the meeting.

BVM Oil analyst Stephen Brennock said: "Further production cuts cannot be ruled out... Failure to do so risks triggering another sell-off," he said, without elaborating on the low level he believes prices could reach.

Brent crude prices, which hit a 14-year high above $139 a barrel after Russia's invasion of Ukraine, fell to around $88 a barrel in trading on Thursday, recovering somewhat from a one-year low near $80 a barrel hit earlier this week.

China's economic COVID-19 restrictions and a delayed EU agreement on a ceiling on Russian oil prices have put pressure on the market, with analysts at ING pointing to recent weakness as one reason "it is not possible" to rule out" further supply cuts.

The co-founder of Jefferies Bank consulting firm Energy Aspects, Amrita Sen, said it did not expect OPEC+ to change course now.

Energy Aspects expects OPEC+ to bring some of the discounted volumes back to the market after the second quarter of next year in order to balance supply and demand.

UBS analyst Giovanni Staunovo said that while a lack of clarity on Russian supply could prompt OPEC+ to change its current quotas, weak Chinese demand and the prospect of releasing new volumes of U.S. strategic oil reserves could prompt the group to further cut.   link

Mot:  .... every year I wonder ………..

Mot: .... Always Ready to Decorate fer the Holidaze!! ~~~

Saturday AM Iraq Parliament News Highlights 12-3-22

Saturday AM Iraq Parliament News Highlights 12-3-22

The border crisis with Iran... Will it open the way for the deployment of federal forces in Kurdistan?

December 3, 2022   Baghdad / Obelisk: Iraq deploys its security forces on the borders of the Iraqi Kurdistan region bordering Iran, amid an Iranian welcome, and questions about the extent of the region's cooperation, which is sensitive to any federal forces on the land of Kurdistan.

The Iranian government accuses the Kurdish opposition factions of fomenting the unrest in Iran since September 16.  However, the Kurdistan Regional Presidency showed cooperation by declaring, on Monday, that Erbil and Baghdad would cooperate and coordinate fully to protect border security.

And both the Sudanese Prime Minister and Nechirvan Barzani stressed that no threats or military operations targeting neighboring countries across the borders of Iraq and the Kurdistan region should be allowed.

The leader of the Patriotic Union of Kurdistan, Ghiath Surji, says that the party has expressed its approval for the deployment of Iraqi military forces on the border strip with Turkey and Iran, indicating that it is the best solution to prevent a military attack by Turkey and Iran.

Activist Muhammad al-Nasseri believes in a tweet on Twitter that the deployment of security forces on the region's borders with Iran and Turkey does not solve the crisis, indicating that Kurdistan refuses to submit to the center and its outlets and oil outside Baghdad's control.

On November 23, Iraq announced its intention to redeploy its forces on its borders with Iran and Turkey, after repeated bombings targeted the areas of the Kurdistan region.

Follower of Iraqi affairs, Montaser, warns on Twitter against the deployment of federal forces in the northern region of Iraq before entering into four-way talks involving (Iran, Turkey, Syria, and Iraq). And change the constitution of the Kurdistan region.

The observer of the political situation, Abu Ali Al-Tamimi, talks about the regional government's refusal to enter any federal forces, considering that the region must prove its ability to protect Kurdistan, while the activist Abdul Karim Al-Ghadban asks if the federal government can send federal security forces to control the border crossings in the Kurdistan region?

While Thaer al-Subaihawi recalled the incident of the Kurdish forces besieging a licensed headquarters for the Hashd, wondering whether the federal forces could practice the same activity in any village in Kurdistan. Prepared by Muhammad Al-Khafaji    https://almasalah.com/archives/30858

Israel Is Preparing For A “Broad War” Against Iran, And Iraq Is In The “Pink” Color Of The Confrontation Map

Posted On2022-12-02 By Sotaliraq   An Israeli analyst predicted today, Friday, that Israel is heading towards confronting Iran with a “broad war,” which may turn its army into a “militia,” while he pointed out that Iraq is painted pink in the confrontation map, according to the Palestinian Sama News Agency.

The agency quoted Nahum Barnea, a political analyst in Yedioth Ahronoth newspaper, as saying, “There are two armies in Israel, not one army operating in parallel with each other.

“The first is smart, brilliant, his uniform is neat and expensive. This army is busy preparing for a war the like of which we have not seen, and there is great doubt if it will break out once. The other army fights daily with the Palestinians and the Jews at the West Bank checkpoints.

The two armies compete for their place on the Israeli agenda, for attention and for money. There are points of intersection between them, but no coincidence of interests. The first army soars to the sky, and the other sinks into the quagmire of the occupied territories.

He added that “the policy of the new government, which is being formed by the head of the Likud party, Benjamin Netanyahu, with the parties of the extreme right, “threatens to transform the Israeli army from an army into a militia, and from an official apparatus into a political apparatus.”

According to Barnea, “Palestinian Hebron is a very marginal point on the map of the other Israeli army, which is preparing against Iran. A large red arc emerges from Iran to Syria and Lebanon, flooding Gaza and Yemen in red, and dyeing Iraq, Qatar, and currently Turkey also in pink; A blue arc emerges from Israel and dyes Jordan, Egypt, Sudan, Morocco, Saudi Arabia and the UAE in purple.

At the top of the map, Azerbaijan and the Kurdish regions appear, which are important places for Israeli regional military activities.

He stated that the Israeli army describes the confrontation between Israel and Iran as a "regional competition" to gain the support of the countries of the region. During the last year, Israel made a strategic decision, which is that “the Israeli army prepares for a direct war, on multiple fronts, with Iran.

The intention is to develop capabilities that allow the Israeli army to severely target infrastructure and government sites in Iran, and in parallel to that accelerate the development of defense systems to repel the thousands of missiles that will be fired at Israel from Syria, Lebanon, Iraq and Iran.   LINK

Turkmen Parties And Representatives: The Application Of Article 140 Will Cause A Civil War In Kirkuk

 2022-12-03 02:48    Shafaq News/ On Saturday, the Turkmen parties and parliamentarians renewed their position rejecting the implementation of Article 140 of the Iraqi constitution, warning at the same time of the possibility of a "civil war" breaking out in the disputed Kirkuk governorate between Erbil and Baghdad if the procedures for implementing this article proceed.

This came in a joint press conference held by the head of the Turkmen Front, Hassan Turan, with representatives of the Turkmen parties and deputies of the component, in which he read a joint statement issued by them after a meeting they held today at the Front's headquarters.

Turan said during his recitation of the statement, "What was circulated by some officials about reviving Article 140 of the Iraqi constitution, which was referred to in the government program with the complicity of everyone and the absence of the Turkmen.

The clear position of the Turkmen is that this article failed to find sustainable, peaceful solutions to the issue of Kirkuk and the paragraphs The positive aspects related to resolving property disputes and returning the lands seized by the defunct regime have not been implemented so far.

And he added, "The report of the United Nations mission on this article has indicated clearly that the paragraphs contained in this article, such as the referendum, may be a reason for igniting the civil war between the components of Kirkuk," according to the expression of the statement.

The conferees also denounced - as in the statement - what they called "the deliberate absence of the forces of the State Administration Coalition of representatives of the Turkmen component in the meetings held by the coalition, as if there were secret provisions that had been agreed upon and some fear that the Iraqi people would see them at a time when we fully believe that any solution to the issue

The so-called disputed areas are done through constructive dialogue and with the participation of the components of the Kirkuk governorate, and we will not accept the conclusion of deals or agreements between Baghdad and Erbil, which have proven their failure in previous years.

The conferees expressed their refusal to include the province of Kirkuk and other Turkmen regions in the recent decision of the Council of Ministers to own houses built on agricultural lands unless the file of property disputes is resolved and the land is returned to its legal owners due to the rift it causes in social peace in the province and the loss of the rights of the legal owners of the land, considering that that "it will be a cause for demographic change, which is prohibited by Article 23 of the Iraqi constitution."

Turan also went on to say, "The forces forming the State Administration Alliance are still procrastinating in assigning one of the ministerial positions and political positions to the Turkmen component, with a clear intention to marginalize the Turkmen component."

The head of the Turkmen Front continued, saying, "This marginalization and silence compels us to take escalatory steps to defend our national and national existence."

And the Minister of Justice, Khaled Shwani, had recently announced the activation of Article 140 of the Iraqi constitution, whose implementation has been suspended since 2014, which affected the discontent of the Arab and Turkmen component in the disputed areas.

Kirkuk is one of the disputed areas between Erbil and Baghdad that are covered by Article 140 of the constitution, and it was subject to a joint authority between the Kurdistan Region and the federal government before the independence referendum that the region conducted in September of 2017.

Article 140 stipulates the removal of demographic policies conducted by Saddam Hussein's regime in the disputed areas in favor of the Arabs at the expense of the Kurds, and then a census of the population before the last step, which is a referendum in which the population determines whether they wish to join the Kurdistan Region or remain under the administration of Baghdad.

It was scheduled to complete the stages of implementing the article until the end of 2007, but security and political problems prevented that.‎

In 2019, the Federal Supreme Court ruled that Article (140) of the Constitution of the Republic of Iraq remains in effect, stressing that this will continue until its requirements are implemented and the goal of its legislation is achieved.   LINK

 December Events: Parliament Finishes The First Reading Of The Draft For Iraq's Accession To The Nuclear Safety Agreement

December 3, 2022  Baghdad / Obelisk:  Saturday, December 3, 2022

Parliament ends the first reading of the project for Iraq's accession to the Nuclear Safety Agreement.

Parliament gives confidence to Bankin Rikani, Minister of Construction and Housing

The House of Representatives votes to grant its confidence to Nizar Muhammad Saeed Namidi, Minister of Environment

The House of Representatives holds its session headed by Al-Halbousi

Al-Sudani holds a meeting with the governor of Salahuddin and local officials

Sudanese arrives Salahuddin

On Thursday, December 1, 2022, the three presidencies held a meeting at the Peace Palace in Baghdad, which included His Excellency the President of the Republic, Dr. Abdul Latif Jamal Rashid, the Prime Minister, Mr. Muhammad Shia Al-Sudani, and the Speaker of Parliament, Mr. Muhammad Al-Halbousi.

https://almasalah.com/archives/31348

Announcing The Formation Of An Opposition Parliamentary Bloc To Follow Up On The Work Of The Government

Article at link   LINK

 The Iraqi Parliament completes the cabinet of the Sudanese government by granting confidence to two ministers

  2022-12-03 04:23 Shafaq News/ Today, Saturday, the Iraqi Parliament voted to grant confidence to the Minister of Construction, Housing, Municipalities and Public Works, Bankin Abdullah Rikani, and to Minister Nizar Muhammad Saeed Amidi.

Shafaq News agency reporter said that the parliament held its session headed by Muhammad al-Halbousi, Speaker of Parliament, after the completion of the legal quorum, in the presence of 208 members.

A statement issued by the Media Department of the House of Representatives stated that an absolute majority voted to grant confidence to the two ministers, and thus the ministerial cabinet of the current federal government headed by Prime Minister Mohamed Shia Al-Sudani has been completed.

It is noteworthy that the House of Representatives had voted, at the end of last October, on the cabinet of the Sudanese, with the exception of the Ministries of Environment, Construction and Housing, as a result of the differences that took place over the two positions by the two Kurdish parties (the Kurdistan Democratic Party and the Patriotic Union of Kurdistan), as the political agreements that preceded the government specified a share The Kurdish component has four ministries, in addition to the position of the President of the Republic, and the second deputy speaker of Parliament.  LINK

Iraqi News Highlights Friday Afternoon 12-2-22

Iraqi News Highlights Friday Afternoon 12-2-22

Tlm724 Administrator Bondlady’s Corner

Al-Sudani And Al-Amiri Affirm Support For The Government's Measures To Combat Corruption In Accordance With The Law

Political | 03:05 - 02/12/2022  Baghdad - Mawazine News, Prime Minister Muhammad Shia Al-Sudani received, on Friday, the head of the Al-Fateh Alliance, Hadi Al-Amiri.

Al-Sudani's office stated that Mawazine News received a copy of it, that "the meeting witnessed discussions about the overall general situation in the country, and an emphasis on supporting the government's ministerial program, and its paragraphs that provide for providing services to citizens and reducing poverty indicators."

And the two sides stressed, according to the statement, "the importance of supporting the government in proceeding with the implementation of strategic and important projects for the country, and supporting the government's measures to combat corruption in accordance with the law." Ended 29 / h.

https://www.mawazin.net/Details.aspx?jimare=213032

The Three Presidencies Stress The Necessity Of Coordinating Efforts And Uniting The National Discourse

The three presidencies held a meeting at the Peace Palace in Baghdad that included the President of the Republic, Abdul Latif Jamal Rashid, the Prime Minister, Muhammad Shia Al-Sudani, and the Speaker of Parliament, Muhammad Al-Halbousi.

And the Presidency of the Republic stated in a statement, that "the meeting discussed the overall political, economic and security situation in the country, and ways to support the government in implementing its program and in a way that provides the best services to citizens."

She added, "The meeting emphasized the importance of unifying political discourse at the local and international levels, and the need to legislate the laws that were agreed upon in the political agreement and within the time limits set for them."

And she continued: "The meeting stressed the need to proceed with the holding of provincial elections next year, according to what was emphasized in the government curriculum."

And she indicated that "the economic situation in the country was discussed, and the need to legislate the budget law was stressed, and the importance of strengthening measures to preserve public money, combating corruption, and strengthening reform steps in this regard, and the conditions of the displaced in the country were also discussed, as the meeting stressed the need to make more efforts to end their suffering and work for their return to their homes in a manner that guarantees them a dignified, safe and stable life.”    https://www.radionawa.com/all-detail.aspx?jimare=32392

Work: Government Departments Can No Longer Absorb The Number Of Unemployed

Sweeteners   Economy News – Baghdad   On Friday, the Ministry of Labor and Social Affairs announced proposals to amend the law to support small projects and increase the loan ceiling.

The Director General of the Department of Retirement and Social Security in the Ministry, Raed Jabbar Bahidh, said, "The Lending Fund in the Ministry of Labor and Social Affairs was established in 2012, with a capital of 266 billion dinars," noting that "the fund has not been strengthened with additional funds since 2012, and is currently approved." Only on refunds to previous borrowers and gives loans to new people."

Bahedh added, "The proposal that was added by the Council of Ministers in the Small Projects Support Law was previously 20 million, and it does not achieve a real project," pointing out that "the Council of Ministers decided to increase the loan ceiling to 100 million, on the condition that 10 people work in the project to reduce interest rates." The unemployment".

He pointed out that "the department currently relies only on refunds from borrowers, as sums are collected every 7 months to launch a new batch of loans," explaining that "among the proposals is to increase the loan ceiling and amend the previous law to enhance the fund's capital in the ministry to increase the amount and establish projects." A real little one for the unemployed youth."

Bahedh continued, in his speech to the official news agency, that "government departments can no longer absorb the numbers of the unemployed," noting that "the education sector graduates annually about 800,000 people, all of whom are looking for work," pointing out that "the labor market in the private sector is larger and wider to absorb numbers of unemployed.

Views 170   Added 12/02/2022 - 12:49 PM   Updated 12/02/2022 - 4:57 PM

https://economy-news.net/content.php?id=31155

The Dollar Is Stable In The Iraqi Stock Exchange

Economie| 09:57 - 02/12/2022   Baghdad - Mawazine News  Today, Friday, the exchange rates of the dollar witnessed stability in the Iraqi Stock Exchange.

The selling price of the dollar was 149,600 dinars per 100 dollars, while the buying price of the dollar was 149,500 dinars per 100 dollars.

And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying a dollar from the Ministry of Finance reached 1450 dinars, while the price of selling it to banks was set at (1460) dinars per dollar, while the selling price to the citizen is (1470). One dinar for every dollar. Ended 29 / m 99   https://www.mawazin.net/Details.aspx?jimare=213006

Global oil prices... a decline, with the dollar making up for its losses

Economie| 09:03 - 02/12/2022   Follow-up - Mawazine News   Oil prices fell in early Asian transactions on Friday, after the dollar compensated for some of its losses, while the easing of anti-Covid-19 restrictions in two Chinese cities limited the losses.

And by 0128 GMT, Brent crude futures fell 11 cents, or 0.1 percent, to $ 86.77 a barrel, while West Texas Intermediate crude futures fell 14 cents, or 0.2 percent, to $ 81.08 a barrel.

The dollar rose after falling to a 16-week low against a basket of major currencies after data revealed that consumer spending in the United States increased strongly in October.

The two benchmarks are still in the process of recording their first weekly gains after three consecutive weeks of declines, with two Chinese cities easing anti-Covid-19 restrictions.

On Wednesday, Guangzhou and Chongqing announced the easing of anti-epidemic restrictions.

At the same time, diplomats and a document seen by Reuters revealed that EU governments had agreed to implement a cap on the price of Russian seaborne oil at $60 a barrel, with an adjustment mechanism to keep the price five percent below market level.

An EU diplomat said that all EU governments must agree in writing to the decision no later than Friday. So far Poland, which has sought to lower the price cap as much as possible, has not confirmed it will support the agreement. Ended 29/M99    https://www.mawazin.net/Details.aspx?jimare=213003

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

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KTFA Members "Friday international News" 12-2-2022

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UncleVersie:  Member of the Parliamentary Finance: The budget will exceed the barrier of 210 trillion dinars, and these are its priorities

  09:18 - 01/12/2022

Baghdad - Mawazine News

Revealed a member of the Parliamentary Finance Committee Mohammed Nouri Aziz, today Thursday, the federal budget for 2023 will amount to more than 210 trillion dinars.

Aziz said in an interview with the official newspaper "Al-Sabah" Mawazine News continued, "One of the priorities of next year's budget is the launch of appointments Degrees of deletion and development, as well as infrastructure, for which very large sums of money will be allocated in the regional development program and may reach more than 8 trillion dinars for the first time in The history of the country's budgets after 2003."

"The allocated funds will flow into projects. Ministries of Construction, Housing, Municipalities and Public Works, Electricity, Planning, Labor Social affairs, especially pro-poor and the social welfare programme", He pointed out that "the amounts allocated to these sectors will be very high because there is a financial abundance. And the priority of the current government, which has been described as a "service government" within the Prime Minister's curriculum Mohammed al-Sudani."

Aziz pointed out that "good funding will provide for the budget next year due to financial glut and high oil prices due to the Russian war Ukrainian, which gives the parliament comfort in increasing allocations to another set of categories".

He continued, "Next year's budget will exceed the barrier The 210 trillion dinars based on the actual need of the country, especially since the year 2022 did not Witnessing the vote on the budget, which led to the rotation of the degrees of deletion and creation, as well as "There are a good allocation of the security services and their needs." Finished 29/N33   link

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Toyvp:  Asian investors eye more M&A opportunities in Việt Nam

December, 02/2022 - 10:36

Việt Nam is Japan firms' most preferred destination thanks to its economic resilience with high growth potential on the basis of the diplomatic relations between the two countries

HÀ NỘI — Investors from Japan, the Republic of Korea (RoK), and Singapore are looking for more potential merger and acquisition (M&A) opportunities in Việt Nam, pinning high hopes on the long-term growth prospects of the market.

According to Masataka “Sam” Yoshida, head of the Cross-border M&A Division of RECOF Corporation of Japan, Japanese companies are striving to sign strategic agreements with Vietnamese partners.

Yoshida said Việt Nam is Japanese firms' most preferred destination thanks to its economic resilience with high growth potential on the basis of the diplomatic relations between the two countries.

The Southeast Asian nation is also transitioning from production to a consumer market, he noted, adding that these favourable factors will attract more Japanese companies to the country.

In November, Việt Nam continuously recorded M&A deals from Japanese investors. Most recently, the Cool Japan Fund announced that it will pour about US$10 million into 4P Holdings - the firm that owns and operates the 4P pizza restaurant chain. This is part of the fund's strategy to exploit opportunities in the Vietnamese food and beverage market.

Meanwhile, Japanese gas supplier Toho Gas has signed a strategic investment cooperation agreement with Phuc Sang Minh Engineering Services Trade Co., Ltd to buy 40 per cent of shares of the Vietnamese gas supplier.

Similarly, Sumitomo Mitsui Banking Corporation will invest VNĐ240 billion (over $9.7 million) in Smart Net Trading Service JSC (SmartNet).

Pharmacity, one of the largest drugstore chains in Việt Nam, has joined SK Group, with the aim of entering Southeast Asia's rapidly expanding retail and healthcare markets. The deal is believed to be one of the landmark deals of the year.

Meanwhile, SK E&S, the largest private renewable energy operator of the RoK, signed an agreement worth $37.5 million to buy a 99.99 per cent stake in New Renewable Energy JSC No.1, which is a subsidiary of Gia Lai Power Electricity JSC to set a foot in the renewable energy sector in Việt Nam.

The signing of billion-dollar deals between Vietnamese and RoK firms has shown the confidence of Korean investors in their Vietnamese partners.

Hana Financial Group has established a strategic partnership with the Bank for Investment and Development of Vietnam (BIDV). Việt Nam also witnessed the strategic investment of Shinhan Financial Group of the RoK in Tiki - Việt Nam's leading e-commerce company in May this year.

Nguyễn Hạnh, a lawyer of Bae, Kim & Lee Vietnam, said in the first ten months of this year, $370 million was poured into Việt Nam through M&A deals by Korean investors.

It is forecast that more and more Korean corporations will join and increase their presence in Việt Nam through M&A deals.

This year, a member investment fund of Temasek Holdings of Singapore also inked a $50 million deal with Vietnamese e-commerce solution provider OnPoint.

In addition, Singaporean venture capital funds have increased their presence in the Vietnamese market through investments in local start-ups.

Recently, Dat Bike, an electric motorbike start-up of Việt Nam, has announced that it has successfully raised an additional $8 million in a funding round led by Singapore-based Jungle Ventures Fund. GSR Ventures and Delivery Hero Ventures also participated in the round, along with Wavemaker Partners and Innoven Capital.

In August, Jungle Ventures also poured $8.5 million into local insurance and healthcare platform Medici.

Meanwhile, Golden Gate Ventures, a Singapore-based venture capital fund, has set up two offices in Việt Nam to invest in the technology industry. Another venture fund, Quest Ventures, is also partnering with Enterprise Singapore to implement the GIA Acceleration Programme to assist Singaporean tech start-ups and small- and medium-sized enterprises (SMEs) to enter the Vietnamese market. — VNS

https://vietnamnews.vn/economy/1400572/asian-investors-eye-more-m-a-opportunities-in-viet-nam.html

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Clare:  In pictures, the UAE introduces a new banknote made of polymer

12/02/2022

The Central Bank of the United Arab Emirates announced the issuance of a new banknote in the category of 1,000 dirhams, made of polymer material, with innovative designs and modern and advanced security features, coinciding with the celebrations of the 51st Union Day.

The issuance of the new banknote in the category of 1,000 dirhams, which is the fourth in the series of the project for the third issuance of the national currency, comes within the framework of the Central Bank's approach to developing the financial sector in the country.

In its design of the new banknote, the Central Bank was keen to embody the spirit of the union and the success story of the UAE, with cultural and developmental images and symbols that reflect the pioneering global achievements of the country, which strengthened its position to be among the developed countries within a record period of time.

The bank continues its policies and approach towards sustainability by issuing the new banknote in the category of 1000 dirhams made of polymer material, which is one of the modern materials in the manufacture of banknotes, as it is more durable and sustainable than traditional banknotes, by two or more times. It is also fully recyclable, thus reducing its environmental impact.   LINK

Toyvp:  ISX trades +4 billion dinars worth of equities in a week

2022-12-01 04:11

Shafaq News/ The Iraq Stock Exchange (ISX) traded more than three equities valued at more than four billion dinars last week.

With more than 3,100 deals closed this week, ISX index closed on Thursday's sesion at 590.01, 0.78% below Sunday's session.

It is noteworthy that Iraq Stock Exchange installed Central Depository and Electronic Trading Systems in 2009. It organizes five weekly sessions and lists 103 public companies from different economic sectors.

https://www.shafaq.com/en/Economy/ISX-trades-4-billion-dinars-worth-of-equities-in-a-week

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Henig:  The death sentence for the most dangerous drug dealer who was arrested by the crowd security earlier

Baghdad / The Iraqi judiciary issued a death sentence for the most dangerous drug dealer who was arrested by the Hashd Security earlier.

A statement by the Popular Mobilization Authority stated that after his arrest by the Investigation Authority in the security of the crowd, the Iraqi judiciary sentenced one of the largest drug dealers in Iraq to death by hanging.

He added that the merchant was smuggling drugs in large quantities from neighboring countries to Iraq and storing them in remote villages, after which they would be sold in batches and quantities, and tens of thousands of narcotic substances and pills were also found in his possession.  LINK

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UncleVersie:  Next Sunday. Oil experts say OPEC and its allies are likely to resort to "new" production cuts

2022-12-02 09:16

Energy analysts said that oil producers from OPEC and non-OPEC from the OPEC+ group may decide to reduce oil production next Sunday, as the alliance tries to limit the potential effects of the European Union's decision to impose sanctions on Russian crude exports and the possibility of imposing a certain ceiling on Russian oil prices.

OPEC+, a group of 23 oil producers led by Saudi Arabia and Russia, will meet on Sunday to decide on the next phase of production policy.

The meeting comes ahead of the imposition of "devastating" sanctions on Russian crude and the possibility of a decline in Chinese demand for crude, raising fears of a recession that could eventually lead to lower prices.

Claudio Galimberti, an analyst at energy consultancy Rystad, told CNBC from OPEC's headquarters in Vienna that the group would do well to change its current output policy.

Reports that OPEC+ is considering production cuts based on falling demand, especially in China, over the past few days.

Players in the global energy market remain concerned about EU sanctions on Russia's exports of seaborne crude, which will take effect on the fifth of this month.

In addition, the prospect of a cap on Russian oil prices by the Group of Seven increases uncertainty in the oil market.

The 27-nation European Union agreed in June to ban the purchase of Russian seaborne crude from Dec. 5 as part of a concerted effort to curtail Moscow's imports following its invasion of Ukraine.

However, concern that a total ban on imports of Russian crude could lead to higher oil prices, has prompted the Group of Seven major industrialized nations to consider capping the price of Russian crude.

No formal agreement has been reached so far, although Reuters reported on Thursday that EU governments had agreed in principle to a cap on the price of Russian seaborne oil at $60 a barrel.

"The other factor OPEC has to consider is the price cap, and this increases the uncertainty" in the oil market, Galimberti said.

The OPEC+ alliance recently hinted it could impose deeper production cuts to stimulate prices, which have fallen over the past three weeks but have risen slightly on Friday, two days before the expected meeting.

Reuters says the OPEC+ group is widely expected to stick to its latest target of cutting oil output by two million barrels per day when it meets on Sunday, but some analysts believe crude prices could fall if the group does not decide on further cuts.

OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies led by Russia, turned Sunday's meeting, which was due to be live in Vienna, into a virtual online meeting, which sources in the group say suggests policy may remain unchanged.

The group agreed in early October to cut its oil production target of 2 million barrels per day from November until the end of 2023.

Given the production constraints imposed on some members of the group, the expected actual cut by OPEC+ is close to 1 million to 1.1 million barrels per day.

Sources told Reuters that OPEC+ now wants to assess the impact of the looming price cap on the market and get a clearer picture of the outlook for oil demand in China, the world's biggest crude importer, which is expected to ease strict coronavirus restrictions after unprecedented protests.

However, some analysts do not rule out a surprise, warning that with supply currently in the market, OPEC+ risks a downturn in the price of oil if it does not cut production targets further at the meeting.

BVM Oil analyst Stephen Brennock said: "Further production cuts cannot be ruled out... Failure to do so risks triggering another sell-off," he said, without elaborating on the low level he believes prices could reach.

Brent crude prices, which hit a 14-year high above $139 a barrel after Russia's invasion of Ukraine, fell to around $88 a barrel in trading on Thursday, recovering somewhat from a one-year low near $80 a barrel hit earlier this week.

China's economic COVID-19 restrictions and a delayed EU agreement on a ceiling on Russian oil prices have put pressure on the market, with analysts at ING pointing to recent weakness as one reason "it is not possible" to rule out" further supply cuts.

The co-founder of Jefferies Bank consulting firm Energy Aspects, Amrita Sen, said it did not expect OPEC+ to change course now.

Energy Aspects expects OPEC+ to bring some of the discounted volumes back to the market after the second quarter of next year in order to balance supply and demand.

UBS analyst Giovanni Staunovo said that while a lack of clarity on Russian supply could prompt OPEC+ to change its current quotas, weak Chinese demand and the prospect of releasing new volumes of U.S. strategic oil reserves could prompt the group to further cut.   link

Friday AM Iraq Economic News Highlights 12-2-22

Friday AM Iraq Economic News Highlights 12-2-22

"No Appointments In The 2023 Budget"... Iraq's International Commitments May Overthrow Government Employment

2022-12-01 11:38  Shafaq News/ The economist, Ahmed Fouad, suggested, on Thursday, that there will be no "real appointments" in the 2023 budget, due to Iraq's commitments with the World Bank, calling for finding alternatives to government jobs and moving towards the private sector.

Fouad told Shafaq News agency, "The draft budget law for 2023 is still in the Ministry of Finance, and it will be transferred during the current month to the Prime Ministry to present it to Parliament early next year, and then decide on the budget after the first, second and third readings."

The economist ruled out the existence of new appointments in the 2023 budget, attributing this to the fact that "Iraq is subject to the conditions of the World Bank, just as the country has borrowed large sums of money from external parties, and the World Bank has set a set of conditions, including not providing additional appointments at the expense of the government."

Fouad pointed out that "the new appointments may be a kind of street gain, for political purposes," calling on "the government to transfer the sums it will allocate for appointments to the private sector in order to find alternatives to jobs, and these alternatives will be double if the government is able to exploit them properly." .

And he continued, "In the end, these amounts will be exploited in practice, and there will be no real appointments within the new budget, even if approved, they will not be implemented, due to commitments with the World Bank."

A source in the Iraqi Ministry of Finance revealed, the day before yesterday, the details of the general budget for the next year 2023, which it is hoped will discuss within the Council of Ministers next week and then send it to the House of Representatives.

The source told Shafaq News agency, "The total amount in the budget law is estimated at 140 trillion dinars, with a financial deficit estimated at 35 trillion dinars," indicating that "the law calculated the price of oil at 65 dollars per barrel, but the total amount, the deficit, and the price of oil will change towards a decrease through discussion The draft law and its approval in the Council of Ministers session. LINK

The Three Presidencies Stress The Necessity Of Enacting The Budget Law And Strengthening Measures To Preserve Public Funds

Friday, December 2, 2022 12:14 am   Baghdad / The National News Center  The three presidencies held, today, Thursday, at the Peace Palace in Baghdad, a meeting that included the President of the Republic, Abdul Latif Jamal Rashid, the Prime Minister, Muhammad Shia Al-Sudani, and the Speaker of Parliament, Muhammad Al-Halbousi.


And the Presidency of the Republic stated in a statement received by the National News Center that “the meeting discussed the overall political, economic and security situation in the country, and ways to support the government in implementing its program and in a manner that ensures the provision of the best services to citizens.”


The statement added, "The meeting emphasized the importance of unifying political discourse at the local and international levels, and the need to legislate the laws that were agreed upon in the political agreement and within the specified periods for them."


He explained that "the meeting stressed the need to proceed with the holding of provincial elections next year, according to what was emphasized in the government curriculum."


And he indicated that “the economic situation in the country was discussed, and the need to legislate the budget law was emphasized, and the importance of strengthening measures to preserve public money, combat corruption, and promote reform steps in this regard. The conditions of the displaced in the country were also discussed, as the meeting stressed the need to make more efforts to end their suffering and work for their return to their homes in a way that guarantees them a decent, safe and stable life.”     https://nnciraq.com/169051/

An Economist Rules Out The Existence Of New Appointments In The 2023 Budget

Money and business   Economy News – Baghdad   The economist, Ahmed Fouad, suggested that "real appointments" would not be available in the 2023 budget, due to Iraq's commitments with the World Bank, calling for finding alternatives to government jobs and moving towards the private sector.

Fouad said, "The draft budget law for 2023 is still in the Ministry of Finance, and it will be transferred during the current month to the Prime Minister's Office to present it to Parliament early next year, and then decide on the budget after the first, second and third readings."

The economist ruled out the existence of new appointments in the 2023 budget, attributing this to the fact that "Iraq is subject to the conditions of the World Bank, just as the country borrowed large sums of money from external parties, and the World Bank set a set of conditions, including not providing additional appointments at the expense of the government."

Fouad pointed out that "the new appointments may be a kind of street gain, for political purposes," calling on "the government to transfer the sums it will allocate for appointments to the private sector in order to find alternatives to jobs, and these alternatives will be double if the government is able to exploit them properly." .

Fouad continued in an interview with "Shafaq News" agency, followed by "Al-Iqtisad News", "In the end, these amounts will be used practically, and there will be no real appointments within the new budget, even if approved, they will not be implemented, due to commitments with the World Bank."

Views 159   Added 12/02/2022 - 9:22 AM   Updated 12/02/2022 - 2:14 PM

https://economy-news.net/content.php?id=31149

Vian Sabry: It was called for allocating a budget to activate Article 140

Posted On2022-12-02 By Sotaliraq   Yes, and we want to resolve the issue in accordance with the constitution and the constitution is clear,” stressing that “every decision issued on the oil and gas law in the Kurdistan Region should be by mutual agreement.”

Sabri pointed out, “The State Administration Coalition touched on Article 140 of the constitution, and set a financial budget to activate the committee concerned with the case. The issue cannot be resolved through words only, and a budget for compensation must be set.”

The Kurdistan Region’s share of Iraq’s general budget for the year 2023 is a major focus of the Kurdish delegation’s discussions with the federal government in Baghdad. In this regard, Sabri stated: “We demanded 17%, and there was a discussion about sending the amount that is determined in full to the Kurdistan Region, because the full amount did not arrive. to the Kurdistan Region sometimes previously.

And she emphasized: “We see that Baghdad has a serious intention to solve problems, some of which date back to 2005. It is possible that some of Iraq’s problems are caused by not resolving these files, and it is expected that their solution will lead to stability in Iraq and the Kurdistan Region, so it must be resolved.”   LINK

The Kurdistan Region Proves Its Share In The Next Year's Budget.. How Much?

Political | 08:26 - 11/30/2022   Special - Mawazine News  The Kurdistan Democratic Party confirmed, on Wednesday, that the region has confirmed its share in the next year's budget.

The leader of the party, Mahdi al-Faili, said in an interview with Mawazine News, "The region's delegation, which visited Baghdad, established a number of points, most notably the region's share in the budget and setting a time period for approving the oil and gas law."

He added, "It was agreed that the region's share would be 14% with its commitment to deliver its oil imports to Baghdad," adding that "it was also agreed to approve the oil and gas law for a period of time not exceeding 3 months only."     https://www.mawazin.net/Details.aspx?jimare=212875

Member Of Parliamentary Finance: The Budget Will Exceed The Barrier Of 210 Trillion Dinars, And These Are Its Priorities

Political | 09:18 - 01/12/2022   Baghdad - Mawazine News,a member of the Parliamentary Finance Committee, Muhammad Nuri Aziz, revealed today, Thursday, that the federal budget for 2023 will amount to more than 210 trillion dinars.

Aziz said in an interview with the official newspaper, "Al-Sabah", followed by Mawazine News, that "one of the priorities of the next year's budget is to launch appointments for the degrees of deletion and creation, in addition to the infrastructure for which very large sums will be allocated in the regional development program and may reach more than 8 trillion dinars." For the first time in the history of the country's budgets after 2003.

He added, "The allocated funds will flow to the projects of the Ministries of Construction and Housing, Municipalities and Public Works, Electricity, Planning, Labor and Social Affairs, especially for the benefit of the poor and the Social Welfare Program," noting that "the sums allocated to these sectors will be very high due to the presence of financial abundance, and the priority of the current government that It was described as a "service government" within the platform of Prime Minister Mohammed al-Sudani.

Aziz pointed out that "good funding will be provided for the next year's budget due to financial abundance and the rise in oil prices due to the Russian-Ukrainian war, which gives Parliament the freedom to increase allocations for another group of groups."

And he continued, "The next year's budget will exceed the barrier of 210 trillion dinars based on the actual need of the country, especially since the year 2022 did not witness a vote on the budget, which led to rotating degrees of deletion and creation, in addition to the existence of significant allocations for the security services and their needs."    https://www.mawazin.net/Details.aspx?jimare=212907

Mandalawi: Iraqi Water Security Is In Danger

Political | 02:15 - 01/12/2022   Baghdad - Mawazine News, First Deputy Speaker of Parliament Mohsen Al-Mandalawi called, on Thursday, for urgent international action in order to preserve the future of future generations from the threat of climate change and its "devastating" effects that threaten the globe, indicating that Parliament will spare no effort in supporting the National Energy Initiative. Water and climate are regulated and legislative because they represent "extreme importance in facing difficult challenges" in this aspect.

A statement by Al-Mandalawi's office stated, "This came during his (Al-Mandalawi) sponsorship today, Thursday, of the introductory symposium on the National Energy, Water and Climate Initiative, which was held by the Parliamentary Research and Studies Department in the Parliament building, in the presence of a number of deputies, the head of the national initiative team, Jassem Al-Falahi, and the head of the National Initiative team. ISO energy Shaima Mazhar, and a group of researchers and specialists.

Al-Mandlawi said, "Iraq suffers from declining water resources, desertification, and the spread of cancerous diseases as a result of radioactive pollution, the deterioration of the state's infrastructure, and lack of concern for the environment," adding that "water security in Iraq constitutes a major challenge because of the dams that were built by neighboring countries without taking into account Iraq's water rights."

And led to the destruction of large areas of agricultural land and the draining of the marshes, and that these problems and challenges require a serious and real stance to confront them, and that the House of Representatives will send a parliamentary delegation accompanied by the Minister of Foreign Affairs to visit Turkey to discuss Iraq’s water share.

The statement continued, “The symposium included a number of speeches, research and interventions to enrich the symposium and come up with a number of important recommendations, including the speech of the head of the National Initiative for Energy Support and Emissions Reduction, Jassem Al-Falahi, and the speech of the Director General of the Parliamentary Research Department, Mayada Al-Hijami, on the role of Parliament in supporting the national initiative, and presenting A summary of the five-year plan and the required procedures delivered by the ISO Energy team leader. Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=212936

Oil: More Than $8 Billion In Iraq's Revenues For The Past Month

Economie   14:33 - 12-01-2022   Today, Thursday, the Ministry of Oil announced that Iraq's revenues for the past month amounted to more than 8 billion dollars, indicating that the average price per barrel amounted to more than (82,417) dollars.

The ministry said in a statement, "According to preliminary statistics issued by the Iraqi Oil Marketing Company (SOMO), the total amount of exports of crude oil for the month of November last amounted to (99) million (867) thousand and (946) barrels, with revenues amounting to ( 8.231) billion dollars.

She added that "the total quantities of crude oil exported for the month of November from the oil fields in central and southern Iraq amounted to (97) million and (204) thousand and (696) barrels, while from the fields of Kirkuk through the port of Ceyhan, the exported quantities amounted to (2) One million and (363) thousand and (20) barrels,” noting that “the average daily quantities exported amounted to (3) million and (329) thousand barrels per day.”

And she stressed that "the average price of one barrel amounted to more than (82,417) dollars."

It is noteworthy that the Ministry of Oil, through its belief in informing the people of export operations and the revenues generated from it, has taken this monthly procedure. https://kirkuktv.net/AR/Details/11172

Deputy Reveals The Last Stages Reached By The Budget

Sumerian special   2022-12-01 | 13:35    Source:  Alsumaria News  6,564 views  Speaking about the role of governors, he explained, "President  Council of Ministers  He gave all governors a period not exceeding 6 months to present their achievements, and there is a committee and a coordination office between the provinces that undertakes follow-up and evaluation of projects,” noting that “Parliament did not discuss the replacement of governors, as it was rumored in the recent period.”    LINK