Iraqi News Highlights Sunday Evening 2-19-23

Iraqi News Highlights Sunday Evening 2-19-23

Tlm724 Administrator Bondlady’s Corner

The Dollar Records 150 Thousand Dinars In The Iraqi Market

Economie| 11:21 - 02/19/2023  Baghdad - Mawazine News  publishes / Mawazine News /, the exchange rates of the dollar against the dinar in the local markets for today, Sunday.

Selling price: 150,000 dinars per 100 dollars     Buying price: 149,500 dinars per 100 dollars

https://www.mawazin.net/Details.aspx?jimare=219719

Trade Launches A Monitoring Campaign To Check The Local Market Prices

Economie| 11:34 - 02/19/2023  Baghdad - Mawazine News  Today, Sunday, the Ministry of Commerce launched a control campaign to check the prices of the local market.

The Minister of Commerce, Atheer Al-Ghurairy, said in a statement received by Mawazine News, that "the oversight teams affiliated with the Ministry of Commerce, which represent the departments and companies of the ministry, began a large control campaign in conjunction with the preparation of a new meal from the items of the food basket."

He stressed that "the ministry's plan is based on auditing and controlling the work of food agents, as well as checking food prices through mobile teams that check food prices and prevent monopoly," noting that "the ministry has formed control teams from all departments and companies of the ministry with modern mechanisms." Including access to all food agents and to local markets within the geographical area of ​​the areas that these teams check.

He continued, "The ministry has prepared legal procedures against the violating agents, in addition to coordinating with the security services, the National Security Agency, and the Organized Crime Department to take the necessary measures against monopolists in the local markets." Expediting their processing through a foodstuff agent, as well as the quality and location of the agency in which the foodstuffs are used, as well as the teams begin to monitor all local markets in the areas in which they are present.

He stated that "the control mechanisms over agents and local markets continue and will witness a remarkable development in the coming days in order to ensure the safety of delivery of food basket items to citizens and those covered by social care, as well as tightening control mechanisms over local markets by examining the markets to prevent monopoly and speculation and contribute to creating a line parallel to that." markets through the commercial plan carried out by the ministry in implementation of the directives of the Council of Ministers.

And he stated, "The oversight plan includes the Karkh and Rusafa districts in Baghdad through roving teams, in addition to the plan that included all governorates, which extends to districts and sub-districts, and in the form of stages."

He explained that "the first stage includes city centers, then branches out into duties in all districts and sub-districts, and the aim of the campaign is to see in detail the mechanisms for preparing food basket materials and also see in detail the prices of foodstuffs in the farthest region of Iraq."

And he stressed that "the ministry has the ability to reach all markets and agents on the homeland, as a result of the presence of infrastructure and personnel capable of reaching these areas." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=219722

Parliament Ends The First Reading Of The Draft Law Approving The Financial Statements For The Fiscal Year Ending In 2014

political| 02:46 - 02/19/2023  Baghdad - Mawazine News  , the House of Representatives completed, on Sunday, the first reading of the draft law approving the financial statements for the fiscal year ending in 2014  . for the year 2014".

Today, Sunday, the House of Representatives held its session, headed by Deputy Speaker of the House of Representatives, Shakhwan Abdullah.

The session witnessed the end of the first reading of the twenty-first amendment bill to the Owners Law.   https://www.mawazin.net/Details.aspx?jimare=219740

Al-Sudani: We Are Working On Structural Reforms For The Iraqi Economy

money and business  Economy News-Baghdad   Prime Minister Muhammad Shia al-Sudani affirmed that Iraq is the key to the solution in the region, while pointing out that part of corruption finances terrorism.

Al-Sudani said in a symposium on the sidelines of his participation in the Munich conference, "Iraq is the key to the solution in the region," noting that "our government has 5 priorities."

The Prime Minister added, "We are working on structural reforms of the economy," noting that "the previous governments did not invest in gas."

He pointed out that "the government places desertification problems as a priority in its solutions," adding that "our forces have the ability to achieve security and stability in Iraq."

"We started reforming the security sector," added Al-Sudani, adding, "Our position is clear that there is no need for combat forces. We only need advisory missions."

He stressed that "the presence of al-Hol camp is a worrying factor for Iraq," noting that "the Iraqi people adhere to the democratic system."

And the Prime Minister went on, "We are constantly working on the principle of citizenship and have come a long way in overcoming the problems between Baghdad and Erbil."

He explained that "ISIS ended militarily in Iraq," adding, "We need the international community's help in recovering wanted terrorists and preventing their financing."

And he added, "My government has adopted opening a dialogue with the international coalition to determine its needs and aspects of tasks in the next stage, and to determine the number of advisers," noting that "Washington is a strategic partner for Iraq."

And between: "We have historical relations with Iran," stressing that "corruption in Iraq threatens development and reconstruction plans."

And the Prime Minister added, "We started reforming the institutions involved in pursuing corruption," adding, "We started with the method of recovering funds and tracking down wanted persons, and this is happening for the first time since 2003."

And he continued, "Part of corruption finances terrorism," indicating that: closing the file of the displaced is a priority for the government.

Al-Sudani went on to say, "Iraq is open to all countries in its economic partnerships," adding, "We have historical relations with Kuwait and there is an effort to attract Gulf investments."

The Prime Minister stressed that "Iraq has investment opportunities in various sectors," pointing out that "my government is keen to review the investment environment in Iraq."

https://economy-news.net/content.php?id=32537

Trade Launches The First Online Shopping Platform To Sell Materials To Government Institutions And State Departments

Money and business  Economy News-Baghdad  The General Company for Central Markets in the Ministry of Commerce announced the launch of the first electronic shopping platform for government institutions and all state departments.

The company's general manager, Zahra Al-Kilani, said in a statement, "The company launched the electronic shopping platform, which is the first platform of this kind that specializes in preparing materials for state departments."

She pointed out that "her company deals with government institutions exclusively through the electronic shopping website of the General Company for Central Markets and has no relationship with any other sites."

Al-Gilani called on private sector companies, whether Iraqi, Arab or foreign, to "equip them with the various materials and goods available to them by contracting with them for the purpose of selling their goods by adding these companies to the online shopping platform."

At the same time, she noted that "the company has completed the automation of the personnel and financial system, the transportation system, the workshop, the central market property system, and the warehouse and sales system."    https://economy-news.net/content.php?id=32539

Iraq's Oil Exports To America Increased Within A Week

Economie| 09:18 - 02/19/2023  Baghdad - Mawazine News  Iraq's oil exports to America recorded an average of 322 thousand barrels per day last week, higher than the previous week, when oil exports to America reached an average of 230 thousand barrels per day, and also exceeded Saudi oil exports to America.

And the US Energy Information Administration stated, in a report, that "the average US imports of crude oil during the past week from eight countries amounted to 4.709 million barrels per day, down by 1.354 million barrels per day from the previous week, which amounted to 6.063 million barrels per day."

The administration added, "Iraq's oil exports to America amounted to an average of 322 thousand barrels per day last week, higher than the previous week, when oil exports to America amounted to an average of 230 thousand barrels per day, and to also exceed Saudi oil exports to America."

And she continued, "Most of America's oil revenues during the past week came from Canada at a rate of 3.556 million barrels per day, followed by Mexico at a rate of 690,000 barrels per day, and oil revenues from Saudi Arabia at a rate of 262,000 barrels per day, and then Brazil at a rate of 195,000 barrels per day."

And it indicated, "The amount of US imports of crude oil from Ecuador amounted to an average of 156,000 barrels per day, from Colombia at a rate of 143,000 barrels per day, and from Nigeria an average of 75,000 barrels per day, while it did not import any quantity from Russia or Libya."

https://www.mawazin.net/Details.aspx?jimare=219710

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

https://www.bondladyscorner.com/

Iraqi News Highlights Sunday Afternoon 2-19-23

Iraqi News Highlights Sunday Afternoon 2-19-23

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance: Budget Amendments Widen The Deficit Gap To 60 Trillion Dinars

Posted On2023-02-19 By Sotaliraq   Baghdad / Firas Adnan  The Parliamentary Finance Committee stated that the budget deficit will reach 60 trillion dinars, and talked about two important variables in this law, the first negative represented in violating the Federal Financial Management Law, and the second positive in that it includes many programs stipulated in the ministerial curriculum, looking forward to completing this file within a maximum period of one month next.

A member of the committee, Representative Jamal Cougar, said, "Parliament has not received, until now, any confirmed information about the content of the draft budget law."

And Cougar continued, “It is clear to us that the exchange rate of the dollar has changed from 1450 dinars to 1300 dinars, according to what the Council of Ministers recently voted on based on the recommendations of the Central Bank of Iraq.”

He pointed out, "The possibility of resolving the dispute over the price of a barrel of oil by making it from 70 to 71 dollars, according to the estimates that we receive."

Cougar talked about "information stating that the deficit will reach 60 trillion Iraqi dinars, especially after changing the exchange rate."

And he stressed, “The government will have two options, either compressing public expenditures, as stated in the recent statements of Prime Minister Muhammad Shia’a Al-Sudani about the budget, or adding the difference made as a result of changing the exchange rate, which we estimate between 12 to 15 trillion dinars to the deficit.”

Cougar stated, “This budget includes two variables from previous budgets: the first is negative in violation of Financial Management Law No. 6 of 2019 as amended, which stipulates that the deficit should not exceed 3% of the GDP, estimated at $220 billion.”

And he noted, "If the deficit is 60 trillion, according to the estimates received by us, its rate will be many times greater than what was determined by the Federal Financial Management Law."

And Cougar went on to say that “the second positive variable comes with the inclusion in the budget of many programs that were included in the ministerial curriculum and translated into projects in this law, such as the construction of hospitals, schools, external roads, and investment in associated gas.”

For his part, another member of the committee, Representative Mueen Al-Kazemi, stated that "changing the exchange rate led to a drop in state revenues from 149 trillion dinars to 135 trillion dinars."

Al-Kazemi continued, "This measure cost the state an amount of 15 trillion dinars in order to support the citizen and the fragile classes that were suffering from anxiety as a result of the significant rise in the dollar exchange rate."

He pointed out, "The rise was supposed to be addressed in the draft budget law for the current year, which is what the Ministry of Finance is working on."

Al-Kazemi stressed, "The Ministry of Finance, in coordination with the relevant authorities, is working to end all variables, especially in terms of the exchange rate of the dollar and a barrel of oil, in preparation for presenting the project to the Council of Ministers."

It is not expected that «the project will be delayed with the Council of Ministers for a long time, especially after the positive dialogues that took place with the Kurdistan region recently and discussed outstanding issues regarding the proportion of the region and other matters related to oil and gas and entitlements».

Al-Kazemi looks forward to "the law being completed by the government during the current month, in order to send it to parliament, discuss it and legislate it."

And he stressed, "The House of Representatives began holding early meetings with the ministries in order to see their financial needs, as happened when our committee met with the Ministry of Electricity for the same purpose."

And Al-Kazemi concluded, that “a political desire is for all budget provisions to be completed within a date no later than next month, so that we enter the stage of implementing the paragraphs during the first half of this year.”

On a related note, the committee's rapporteur in the former parliament, Ahmed Al-Saffar, stated that "the current price of a barrel of oil in the global markets is $86."

Al-Saffar continued, "Iraq's resort to a conservative price of 65 dollars would achieve an amount of up to 120 trillion dinars resulting from oil revenues."

He pointed out, "Non-oil revenues, which are taxes, fees and customs, must bring us an amount of no less than 20 trillion dinars."

Al-Saffar believes that "the least that can be calculated is 50% of this amount, which is 10 trillion dinars, and thus the revenues will be about 130 trillion."

And he stressed, "The abundance of oil last year amounted to 50 trillion dinars, after deducting 25 trillion that went to financing the Emergency Support for Food Security and Development Law No. 2 of 2022."

And Al-Saffar added, "These sums, in total, will reach the revenues to an amount of no less than 175 trillion dinars."

He describes, "The budget will be the largest in the history of Iraq and can be used properly in order to bring about a comprehensive change in the economic situation."

Al-Saffar concluded, "The operational budget with new jobs will not exceed 90 trillion dinars to 100 trillion dinars, and the rest can be directed to investment in a way that generates large resources for the treasury."

And the government advisor, Mazhar Muhammad Salih, had stated in press statements, that “the draft budget law for the year 2023 was almost complete and ready for approval by the Council of Ministers, but what delayed this was the dollar crisis, as the fluctuation in exchange rates delayed the approval of the budget.”

Saleh added, "The government's decision to reduce the official price prompted the reformulation and restructuring of the project again, according to the new official price of the dollar."

And he pointed out, “Work is continuous and continuous in order to reformulate the paragraphs and provisions of the budget law in accordance with the new exchange rate for the dollar.”

And Saleh noted, "This will prompt the restructuring of large sections of the law and the exchange doors, and even the issue of internal and external debts, and work is continuing, and this may be accomplished within the next two weeks, as a maximum."

And Saleh went on, "The budget for the year 2023 will be completely different from previous budgets, in terms of service projects and financial allocations to complete important projects that have high completion rates, and the deficit in them will be estimated, and it will be filled through the surplus funds from the last fiscal year."   LINK

The Power Of Speculators And Currency Traders Is Delaying The Government's Measures To Implement The New Exchange Rate

Jawad Al-Yasari to / NINA /: Sunday 19 February 2023 10:15 | Economical Number of readings: 346  Baghdad / NINA / - Independent MP Jawad Al-Yasari confirmed: The power of speculators and currency traders is delaying the government's measures to implement the new exchange rate.

He told the National Iraqi News Agency / NINA /: that despite the government's good decision regarding the exchange rate, which to some extent stopped its rapid and continuous rise, its implementation procedures are still slow.

Al-Yasari added: The strength of traders and price speculators and their continued manipulation without committing to the new price delayed the implementation of the government decision.

And he continued: The government's procedures regarding this matter are slow and unclear, which require quick and effective steps that enhance citizen confidence in official procedures./ End 3

https://ninanews.com/Website/News/Details?Key=1034276

Undersecretary Of The Ministry Of Finance To "Al-Iqtisad News": We Are Working On 4 Projects To Develop State Institutions

Money and business  Economy News-Baghdad  The Undersecretary of the Ministry of Finance, Masoud Haider, identified four measures to advance the administrative apparatus in the Iraqi state.

Haider told "Al-Iqtisad News" that "Iraq needs a unified retirement law for the public and private sectors, in addition to amending many laws so that they are consistent with the current political system as well as with the market economy, and that the state's economic institutions supervise and direct and do not play a direct role in the economy."

He added that Iraq also needs a unified electronic administrative system that links the tax with the registration of companies, retirement, the Ministry of Labor, and the Budget and Accounting Department to unify data and open the private sector employees section in the tax department.

And he considered that "the most important step is the biometric procedure for every person who receives a salary from the government, including retirement. We need about 2-3 years to conduct this matter, and it will save the government billions of dollars."

He pointed out that "the application of a comprehensive banking system for all government banks and restructuring them so that their management is similar to private sector institutions and the provision of infrastructure."

And he cautioned to "work with competent and loyal general managers to work in a way that serves our country and our people, and the Prime Minister is a strong supporter of reforming the state's economic institutions. We also count on the support of the political blocs and leaders in this regard."

https://economy-news.net/content.php?id=32535

Al-Nusairi Calls On The Iraqi Media To Be Competent, Professional, Observant And Transparent Of The Economic Reality

Money and business   Economy News-Baghdad  The economist and banker, Samir Al-Nusairi, called for the national media to be competent, monitored, accurate, professional, and transparent, and to be truly the fourth authority in diagnosing imbalances and political, social and economic problems, and to be a real contributor to proposing solutions to the decision-making, supervisory, and oversight bodies, and not to be a media that suffices with directing criticisms and accusations. Without relying on accurate sources, information and data.

Al-Nusairi referred to the speech of the Prime Minister on 14/2/2023 during his meeting with a group of media professionals and newspaper editors. In it, he emphasized the important role that our national media should play in helping the government diagnose problems, monitor failures, and benefit from the open-door policy to communicate with it and with the authorities. concerned with finding solutions and treatments.

Al-Nusairi stressed that the media should be a committed media and that it be monitored and analytical in order to reach accurate information and from reliable sources for the purpose of the government benefiting from it for the purposes of treatment and accountability.

And Al-Nusairi warned, in the current economic situation that our country is going through with regard to the exchange rate and the budget for the year 2023, that some non-economic media (or non-specialized media) that promote and host analysts who are not specialized in monetary and financial policy present unrealistic news marred by a lack of transparency in reporting the news.

And analyzing it according to special visions, intentionally or unintentionally, greatly harmed the Iraqi economy, which is already suffering from many problems, which made the non-compliant media contribute to adding another problem affecting the nerve of the Iraqi economy, which is creating a state of economic instability, confusion in the movement of monetary and commodity circulation, and high prices of commodities and basic materials.

8And necessary such as food and medicine, and this also led to imbalance and stability in circulation in the money market, despite the important measures taken by the Central Bank and the government.

He explained that the specialized economic media has an important and essential role in creating economic stability, and goes beyond that to contributing to economic reform and enabling and assisting the concerned state agencies and institutions to control economic problems, spread economic culture and avoid failures because economic media must be a national economic media in word and meaning.

Al-Nusairi explained that the media and the economy are in a multi-faceted and permanent partnership, and they are on the same front to face the challenges they face together. It has specialized economic leaders who are aware of the role of the national media.

And he considered that Iraq's experience in this field is considered recent and actually started after 2003 when the media was in the hands of the state and was directed centrally. in Iraq .

He believed that the economy needs support in promotion, analysis, planning and support in order to deliver a distinguished media message to the audience, whether through the press, television, radio or modern media and social media channels via Twitter, Facebook and YouTube.

Al-Nusairi concluded by saying: So the economic media that can present a meaningful message and serve the economy and economic institutions is the one that attracts an important segment of society that will remain and continue and achieve the strategic goals in supporting the national economy and developing the work of productive, financial and banking institutions.

He stressed the need for the economic media to positively participate in the development and economic reform process and contribute to the implementation of the government program by presenting a picture of the nature of the future directions of the economy, defining the economic and developmental activities and events, the available energies, and encouraging the movement of economic and investment exchange in all its fields and forms.   https://economy-news.net/content.php?id=32536

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

https://www.bondladyscorner.com/

Some "Vietnam News" Posted by Henig at KTFA Sunday 2-19-2023

KTFA: Vietnam

Henig:  Shan Tuyet, tea as nature intended

06:00 | 19/02/2023

The Shan Tuyet tea trees on top of the mountains in Phin Ho region of Ha Giang Province have been silently witnessing the passage of time for centuries and starring as central characters in folk tales.

Shan Tuyet tea is very precious to the Red Dao people in Phin Ho. Trieu Mui Nghinh, a veteran resident of Thong Nguyen Commune in Hoang Su Phi District, has spent her whole life making the tea specialty, which has a slight bitter taste of tea leaves at first, but leaves a sweet after-taste.

Ly Mui Muong, Deputy Director of the Phin Ho Tea Cooperative, said Nghinh’s image was chosen to represent Phin Ho green and red tea, which has been recognized as national five-star One Commune One Product (OCOP) products.

Shan Tuyet tea grows completely naturally, without chemical fertilizers and pesticides. Currently, 10 percent of more than 4,000 hectares of Hoang Su Phi's tea area are certified organic. Some 140 hectares of Phin Ho’s Shan Tuyet tea are certified by the European Union (EU), reflecting the producers’ vision and efforts in the tea brand’s development. After being harvested, the leaves are dried and often hung above fire stoves for preservation.

Phin Ho Tea Cooperative is the first large-scale tea processing unit in Hoang Su Phi District. Its products are sold via a system of distribution agents in big cities like Hanoi, Da Nang, Ho Chi Minh City, and exported to a number of markets including China, Russia and some EU countries.

“Over the years, we have been strictly following three principles: Clean raw materials, meticulous processing at each stage and well-packed products with transparent information to create trust among consumers,” said Muong.

The efforts by Muong and her cooperative are gradually improving the lives of local residents, selling its products at advantageous prices in order to obtain the best possible incomes for farmers.

Probably a relic of past cultivation, wild tea trees continue to grow naturally in several of the northernmost provinces of Vietnam. Free from any human intervention other than harvesting, the broad leaves and deep roots give the teas an added depth rarely found in farm-grown equivalents. Although some trees may be as old as 800 years the typical age is believed to be between 80 and 200 years.

Viet Nga & Hoang Lan    LINK

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Henig:  Bình Định, a “hidden gem” for tourists

07:00 | 19/02/2023

With wild landscapes, clear and turquoise water at beaches and abundant cultural sites, the central province of Bình Định has become a rising star on central Việt Nam’s tourism map, said the vice chairman of the provincial People’s Committee.

Speaking at a conference to promote Bình Định tourism organised recently in Ho Chi Minh City, Lâm Hải Giang said the event aims to promote tourism in Bình Định to attract more local and international tourists.

Tourism is one of the five pillars of the province’s socioeconomic growth in the 2021-2025 period, he said.

The province aims to make tourism a spearhead economic sector with a goal of 8 million visitors by 2025, with tourism revenue contributing 20 per cent to the province’s GRDP.

Bình Định and HCM City have in recent years cooperated in tourism development with the former participating in a number of tourism events organised by HCM City, including the HCM City Tourism Festival, HCM City International Travel Expo, and the Southern Food Festival.

The conference was organised by the Bình Định Department of Tourism and HCM City Department of Tourism to strengthen cooperation in investment, especially in tourism development, between the two localities, according to Giang.

Last year, Bình Định received more than 4 million visitors and revenue of more than VNĐ13.1 trillion (nearly US$556 million).

“Maldives of Vietnam”

The Sydney Morning Herald called Quy Nhơn the “Maldives of Vietnam” with long, sandy beaches and crystal-clear water.

The town is considered one of the three tourism hotspots in the central region along with Đà Nẵng and Nha Trang.

It is blessed with a 42-kilometre coastline, diverse topography comprising mountains, forests, salt marshes, plains, lagoons, lakes, rivers, peninsulas and islands.

Travel magazine Lonely Planet also put Quy Nhơn on the list of top must-try experiences and must-visit places in Việt Nam.

Eo Gió (Windy Pass) and Kỳ Co beach are the most famous attractions in Quy Nhơn.

Eo Gió in Nhơn Lý Commune, 20km from the town, is situated between two tall rocky cliffs that drop straight into the clear waters of the sea below, giving it a beautiful crescent shape.

Kỳ Co beach is situated on Nhơn Lý Island, 25km away and a 20-minute boat ride from Quy Nhơn. On one side of Kỳ Co beach is the calm turquoise sea, and the other is magnificent rocky mountains.

The best time to visit Quy Nhơn is from January to August, when the weather is warm most of the time.

The fastest way to get there from Hà Nội and HCM City is by flight (only a one hour flight from Hà Nội and a one hour flight from HCM City).

Source: vietnamnews.vn    LINK

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Henig:  Bank lending rate hikes hurt businesses in HCM City

February, 19/2023 - 10:22

Lending interest rates have surpassed the 10 per cent mark, piling pressure on many businesses in dire need of funding, a conference has heard.

HCM CITY — Lending interest rates have surpassed the 10 per cent mark, piling pressure on many businesses in dire need of funding, a conference has heard.

Most rates were now above 10 per cent, Nguyễn Ngọc Hòa, president of the HCM City Union of Business Associations, told the conference held on February 17 to discuss solutions to promote the city's economic growth.

“High borrowing costs are a big challenge for businesses.”

Many find it very difficult to get loans, with banks claiming they have run out of credit quotas and demanding collateral that businesses often lack, according to Hòa.

The 2 per cent interest rate subsidy the Government is offering for enterprises, co-operatives and business households is not easy to get due to tortuous paperwork and inspections.

To meet the demand for funding and support financially constrained businesses, it is vital to cut interest rates and enlarge credit quotas.

"The Government needs to keep value-added tax rate at 8 per cent for all sectors until the end of this year," he recommended.

Lý Kim Chi, president of the HCM City Food and Foodstuff Association, said businesses in the food processing industry had seen steady growth and operated at peak capacity since the beginning of this year.

Some companies had export orders that could take several months to fulfil.

Amid the current two-digit interest rates, rising costs of raw materials, water and electricity, companies had been struggling to stabilise production and had little hope of making profits.

“Businesses need support in terms of interest rates to overcome challenges and expand their business, she added.

Đỗ Phước Tống, president of the HCM City Mechanical - Electrical Enterprises Association, said there were policies to extend credit to the industry at low interest rates, but it was extremely difficult and took much time to actually get a loan.

Some business owners had to sell their houses to repay loans and avoid defaults, he added.

Increasing signs of economic slowdown

A survey of enterprises by the city Union of Business Associations found that business activities had slowed down since the fourth quarter of last year.

Only a fifth of respondents reported an increase in revenues in the fourth quarter compared to a fourth the previous quarter.

The number of businesses paying average monthly salaries of more than VNĐ10 million (US$420) fell to 65 per cent from 80 per cent in the second quarter of 2022.

Some required their employees to work in shifts or go on furlough due to lack of orders.

In two of the main export markets for Việt Nam’s textiles and garments, the EU and the US, demand declined by 60 per cent and 30-40 per cent, according to the HCM City Association of Garment, Textile, Embroidery and Knitting.

Businesses’ inventories have risen by 20-25 per cent amid limited or no orders since the fourth quarter of last year.

Nguyễn Văn Nên, Secretary of the city Party Committee, said administrative reform, digital transformation and investment promotion would be speeded up to boost the economy.

The city planned to restore its investment stimulus programme to help businesses access funding for production and expansion amid the economic uncertainty.

He called on the business community to strive to overcome challenges and inform the city People’s Committee if there are inappropriate policies that hinder economic growth.

—VNS    LINK

Henig:  Many foreign funds enjoy profits in January

February, 18/2023 - 13:14

After recording a difficult year with heavy losses in 2022, earlier this year a series of investment funds reported strong growth in profits.

HÀ NỘI — After recording a difficult year with heavy losses in 2022, earlier this year a series of investment funds reported strong growth in profits.

In the recently published January performance report, Pyn Elite Fund announced that the fund's investment performance reached 10.33 per cent. This is the highest level this foreign fund has ever achieved in January since pouring capital into Việt Nam 10 years ago.

As of January 31, 2022, the net asset value per certificate of PYN Elite reached more than 436 Euros. Assets under management (AUM) amounted to more than 759 million euros, equivalent to VNĐ19.24 trillion, an increase of 77 million euros, equivalent to an increase of VNĐ1.9 trillion compared to the end of 2022.

The top 10 largest investments in the portfolio, which account for 86.9 per cent, included 5 banking stocks and VNFinLead ETF fund certificates simulating financial groups of banking, securities, and insurance. VNFinLead ETF has had the third consecutive month in the top 10 largest investments of PYN Elite Fund.

Lumen Vietnam Fund also recorded a growth performance of 14.11 per cent in January. The above performance was achieved thanks to the fund's focus on allocating industrial, real estate and financial stocks. January 2023 was the highest-performing January since the fund started operating in Việt Nam in 2013.

Vietnam Enterprise Investment Limited (VEIL), a fund under Dragon Capital, also recorded a positive performance of 10.9 per cent in January.

According to VEIL, the performance improved thanks to a more positive domestic and global macro outlook. Domestically, the easing of monetary policy, allowing liquidity to return to the market, coupled with an impressive 8 per cent economic recovery in 2022, the highest growth rate in ten years.

The top 10 stocks of VEIL currently include Asia Commercial Bank (ACB), Vpbank (VPB), Mobile World Group (MWG), Hoà Phát Group (HPG), Vietcombank (VCB), FPT Corporation (FPT), Becamex IDC Corp (IDC), PetroVietnam Technical Services Corporation (PVS), Vinhomes (VHM) and Phú Nhuận Jewelry (PNJ).

Two other foreign funds including Vietnam Holding Limited and Vaneck Vectors Vietnam ETF also recorded positive performance in January 2023. Accordingly, Vietnam Holding Limited grew by 7.72 per cent and Vaneck Vectors Vietnam ETF recorded a yield of 9.09 per cent.

VNS     LINK

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Henig:  VN-Index to struggle at 1,060 points due to weak demand force

07:00 | 19/02/2023

The selling pressure was quite clear in the last trading session of the week as the market’s breadth inclined to the downside.

The market traded in different directions on the last trading of the week, with rising selling pressure weighing on investors' sentiment.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) ended slightly higher on Friday at 1,059.31 points, up 1.02 points, or 0.1 per cent.

However, on the Hà Nội Stock Exchange (HNX), the HNX-Index declined 0.89 points, or 0.42 per cent, to 209.95 points.

The selling pressure was quite clear in the last trading session of the week as the market’s breadth inclined to the downside.

Especially, 175 stocks on the HoSE decreased and 146 ticker symbols inched higher, while on the northern bourse, 88 stocks hit lower and 66 stocks finished up.

Liquidity of the two main exchanges remained at low levels and decreased slightly by 3 per cent compared to the previous session to a total of over VNĐ7.8 trillion (US$327.5 million). Of which, the matching value on HoSE was similar to the February 16 session of nearly VNĐ7 trillion.

The VN30-Index, which tracks the 30 biggest stocks on the southern exchange, dropped 1.54 points, or 0.15 per cent, to 1,053.72 points.

In the VN30 basket, 18 stocks went down, while nine settled higher, and three ended flat.

Leading the market’s bearish trend were manufacturing stocks, with the biggest loser being Masan Group (MSN), down 1.72 per cent.

It was followed by Hoà Phát Group (HPG) and Sabeco (SAB), down 1.41 per cent and 1.37 per cent, respectively.

Others stocks influencing the down risk were PV Gas (GAS), VPBank (VPB), Vinamilk (VNM), MBBank (MBB) and Petrolimex (PLX).

The market’s benchmark VN-Index pared losses and inched higher on gains in some large-cap stocks. Particularly, BIDV (BID) saw the greatest gain in market capitalisation of 1.78 per cent.

Meanwhile, foreign investors continued to be net sellers on the market. Of which, they net sold VNĐ12.28 billion on HoSE, while net bought a value of VNĐ9.56 billion on HNX.

Analysts from Saigon-Hanoi Stock Exchange (SHS) said that in a medium-long-term perspective, even if the benchmark VN-Index breaks below 1,050 to return to the medium-term downtrend, there are still two important support levels of 1,000 and 950 points. “Therefore, we still expect the VN-Index to form a medium-long term bottom of 950 points,” said SHS.

In the short term, SHS expected that it is highly likely that the market is moving in the recovery wave and is quite positive, especially after the past three consecutive recovery sessions, while for the medium term, the benchmark will enter the balance and accumulation zone after the recovery period.

Source: VNS    LINK

"Tidbits From TNT" Sunday 2-19-2023

TNT:

Tishwash:  interesting they are just posting today 

The prime minister speaks to the citizens directly and promises to solve all their problems 

 Today, Thursday, Prime Minister Muhammad Shia'a al-Sudani spoke directly with the citizens, through the Al-Watan wa Al-Nas program, which is shown on Al-Iraqiya News.

The Prime Minister made direct contact with the presenter of the program, Mustafa Al-Rubaie, during the live broadcast of the episode, to listen to the problems of citizens.

The Prime Minister asked the presenter of the Al-Watan wa Al-Nas program to register the phone numbers of citizens to communicate with him personally to solve their problems.

During the call, he announced the imminent approval of the current year's budget   link 

CandyKisses: Sudani announces the imminent adoption of the financial budget

Baghdad Today - Baghdad

Today, Sunday, Prime Minister Mohamed Shia Al-Sudani announced the imminent approval of the fiscal budget for 2023.

Al-Sudani told state television that the financial budget for the current year would be approved soon.

Earlier, the financial and economic adviser to the Prime Minister, Mazhar Mohamed Saleh, attributed the delay in the government's submission of the 2023 budget bill to the House of Representatives so far due to the recent dollar crisis.

Saleh said in a press statement followed by (Baghdad Today), that "the government's decision to reduce the official price prompted the reformulation and restructuring of the project again according to the new official price of the dollar."

He stressed that "the budget for the year 2023 will be completely different from previous budgets, in terms of service projects and financial allocations to complete important projects that have high completion rates, and the deficit in them will be estimated, and will be filled through surplus funds from the last fiscal year."

According to parliamentary leaks, the 2023 budget is expected to be the highest in the country's history, and included in its items the largest operational part, estimated at 80 trillion dinars, including government expenses and employee salaries, while the price of a barrel of oil in the budget was set at estimated figures not exceeding $ 70.

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

CandyKisses:  The Kurdistan Region's delegation to discuss today with the MoO the oil and gas law

Baghdad / NINA / - Today, Sunday, a delegation from the Kurdistan region will discuss with the Federal Ministry of Oil the oil and gas law.

The head of the office of the prime minister of the region, Omid Sabah, said that the delegation, which arrived last night, will resume its meetings, which it held earlier this month with officials in the Iraqi Ministry of Oil regarding the oil and gas law and related issues.

On February 11, the Kurdistan Region delegation visited Baghdad and held a series of meetings with ministers and officials of the federal government

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

Tishwash:  Al-Sudani: We are working on structural reforms for the Iraqi economy

Al-Sudani said in a symposium on the sidelines of his participation in the Munich conference, "Iraq is the key to the solution in the region," noting that "our government has 5 priorities."

The Prime Minister added, "We are working on structural reforms of the economy," noting that "the previous governments did not invest in gas."

He pointed out that "the government places desertification problems as a priority in its solutions," adding that "our forces have the ability to achieve security and stability in Iraq."

"We started reforming the security sector," added Al-Sudani, adding, "Our position is clear that there is no need for combat forces. We only need advisory missions."

He stressed that "the presence of al-Hol camp is a worrying factor for Iraq," noting that "the Iraqi people adhere to the democratic system."

And the Prime Minister went on, "We are constantly working on the principle of citizenship and have come a long way in overcoming the problems between Baghdad and Erbil."

He explained that "ISIS ended militarily in Iraq," adding, "We need the international community's help in recovering wanted terrorists and preventing their financing."

And he added, "My government has adopted opening a dialogue with the international coalition to determine its needs and aspects of tasks in the next stage, and to determine the number of advisers," noting that "Washington is a strategic partner for Iraq."

And between: "We have historical relations with Iran," stressing that "corruption in Iraq threatens development and reconstruction plans."

And the Prime Minister added, "We started reforming the institutions involved in pursuing corruption," adding, "We started with the method of recovering money and tracking down wanted persons, and this is happening for the first time since 2003."

And he continued, "Part of corruption finances terrorism," indicating that: closing the file of the displaced is a priority for the government.

Al-Sudani went on to say, "Iraq is open to all countries in its economic partnerships," adding, "We have historical relations with Kuwait and there is an effort to attract Gulf investments."

The Prime Minister stressed that "Iraq has investment opportunities in various sectors," pointing out that "my government is keen to review the investment environment in Iraq       link

Mot:  ~~~~ Sorry! - NOT Delivering Mail There Boss!! ~~

Mot: : No More Fishing

Sunday Morning Iraq Economic News Highlights 2-19-23

Sunday Morning Iraq Economic News Highlights 2-19-23

Central Bank Sales Decreased.. 85 Million Dollars In Cash

19-February-2023   The Central Bank of Iraq’s sales of foreign currency decreased on Sunday, February 19, 2023, to approximately $148 million.

Cash sales amounted to $85 million, accounting for approximately 58 percent of all sales

Confusion is still present in the local stock exchanges and exchange companies, many of which refrain from dealing in dollars, while the exchange rate in some exchanges reached more than 153,000 dinars per 100 dollars, a significant difference from the official rate of 132,000 per 100 dollars.

During its auction to buy and sell US dollars, the Central Bank witnessed a decrease in its sales of dollars, to reach 147 million, 761 thousand, and 478 dollars, or 31%, or approximately $65 million, compared to last Wednesday’s sales .

Foreign remittances decreased to about $63 million, in the form of requests to boost balances abroad, and amounted to 42% of total sales.

The Central Bank recorded a decrease in its currency sales in cash, to $85 million, or 58% of total sales.

And 20 banks met requests to consolidate balances abroad, compared to 15 banks to meet cash requests, with the participation of 198 mediation companies and 26 exchange companies.

The bank covered the sales at the following prices:

The price of selling amounts of documentary credits and international settlements for electronic cards is (1305) dinars per dollar

The price of selling remittances abroad is (1310) dinars per dollar

The cash selling price is (1310) dinars per dollar

Central Bank sales decreased.. 85 million dollars in cash %D8%A7%D9%84%D8%A7%D8%AD%D8%AF_5

And the sales of the Central Bank of Iraq recorded a jump on Wednesday, February 15, 2023, to approximately $ 214 million, or 124%, or approximately $ 118 million, compared to  sales  last Tuesday .

Foreign transfers rose to about $99 million, while cash sales amounted to more than $114 million.

The Central Bank did not organize the currency auction on Thursday, due to an official holiday, but during the week ending February 16, it sold more (728,785,580) dollars, according to statistics by "Ultra Iraq."   LINK

 The Central Bank Of Iraq’s Dollar Cash Sales Increased In Today’s Auction

2023-02-19 04:51   Shafaq News/ The Central Bank of Iraq's dollar cash sales increased in an auction today, Sunday, at the expense of foreign transfers.

Shafaq News agency reporter stated that the Central Bank sold today, during its auction, 147,761,478 dollars, covering it at a basic exchange rate of 1,305 dinars per dollar for documentary credits and international settlements of electronic cards, and at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar, respectively. monetary.

Our correspondent added that most of the dollar sales went in the form of cash, amounting to 85 million dollars, while the rest of 62 million, 761 thousand and 478 dollars went to reinforce the balances abroad in the form of remittances and credits.

He pointed out that the banks that bought cash dollars amounted to 20 banks, while the number of banks that met requests to strengthen balances abroad reached 15 banks, while the total number of exchange and mediation companies participating in the auction was 224 companies.   LINK

Central Bank Of Iraq - Deleting Zeros Early 2017 - Strategic ... - Youtube

November 7, 2016    Thoughts  BAGHDAD / IBN – The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.

 This says they have already began to develop the first steps – indicating they are into the process (in late 2016). This would imply they are further along today… and likely many of the AML, electronic banking and international banking interactions are leading up to the implementation of this project. LINK LINK

The Dollar Fell Below The Barrier Of 150 Dinars In The Region's Night Market Transactions

2023.02.18 - 22:34  Baghdad - Nas    The price of the dollar, in the markets of the Kurdistan region, witnessed a decrease in trading today, Saturday.  "Nass" channel on Telegram.. our latest updates 

 The dollar recorded in the markets of the governorates of Erbil and Sulaymaniyah, (February 18, 2023), the following:   $100 = 149,500 Erbil      $100=149,600 Sulaymaniyah 

https://www.nasnews.com/view.php?cat=102304

Parliament Ends The First Reading Of The Draft Law Approving The Financial Statements For The Fiscal Year Ending In 2014

Politics | 02:46 - 02/19/2023  Baghdad - Mawazine News, the House of Representatives completed, on Sunday, the first reading of the draft law approving the financial statements for the fiscal year ending in 2014   . for the year 2014".

Today, Sunday, the House of Representatives held its session, headed by Deputy Speaker of the House of Representatives, Shakhwan Abdullah.

The session witnessed the end of the first reading of the twenty-first amendment bill to the Owners Law

https://www-mawazin-net.translate.goog/Details.aspx?jimare=219740&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Parliamentary Finance: The Stability Of The Dollar Needs 3 Months, And Its Smuggling Continues

Time: 02/19/2023 Read: 1,950 times  {Economic: Al Furat News} The Parliamentary Finance Committee expected the stability of the dollar exchange rate in the country during the next 3 months.

Committee member Jamal Cougar said in a press statement, "The fluctuations of the dollar depend on supply and demand, so the closer the supply and demand are to each other, the closer the government price is to the street price, and whenever the supply is little and the demand is large, the difference will be large."   He expected "the current situation to remain for the next two months or more."

And Cougar indicated that "dollar smuggling depends on the sale in cash, as there are two types of dollars sold, the first in the form of remittance bonds, and the second sold in cash, which is smuggled up to 20 percent, and the government has not controlled it yet."   LINK

Parliamentary Finance: Stabilizing The Exchange Rate Needs Time

The first  2023/02/19   Shaima Rashid  The state of the markets has not changed much with the new exchange rate set by the Central Bank of Iraq. While some exchange companies close their doors, others are reluctant to sell the dollar at its official price to citizens. Transfer and sale window.

Member of the Finance Committee, Representative Jamal Cougar, said in a statement to “Al-Sabah”: “The fluctuations of the dollar depend on supply and demand. Maintain the current situation for the next two months or more".

And the deputy stated that "the smuggling of dollars depends on the sale in cash, as there are two types of dollars sold, the first in the form of remittance bonds, and the second sold for cash, which is smuggled up to 20 percent, and the government has not controlled it yet."

As for the researcher in financial affairs, Haider Al-Sheikh, he criticized the Central Bank's decision to change the exchange rate, considering its timing wrong.

And the Sheikh stated in an interview with "Al-Sabah" that "the purpose of reducing the exchange rate from 1460 dinars to 1310 dinars is to control the market, but this did not happen because of the closure of banks and outlets that sell dollars above the specified price," he said.

The researcher believes that "the closure caused an increase in the price of the dollar in the parallel market by about 25 thousand over the official price, and we should not forget that the economic street depends on the exchange rate on the black market and does not depend on the official price, and this means that food prices remain at their current price," pointing out to That "the general budget depends on the fiscal revenue of oil, and thus the percentage of deficit in the budget will rise, exceeding 20 percent of the total amount."

And the Sheikh relied in his analysis on the fact that “Iraq used to estimate the price of the dollar at 1450 dinars, and today it has become 1300 dinars, and thus the budget lost 15 thousand dinars for every 100 dollars, and by calculating the financial revenue from oil last month, which exceeded 7 billion and 500 million dollars and changing the exchange rate, the The rate of losses of the general budget will reach about 10 trillion  Dinar".   Edited by: Ali Abdel-Khalek     https://alsabaah.iq/71793-.html

Jawad Al-Yasari To / NINA /: The Power Of Speculators And Currency Traders Is Delaying The Government's Measures To Implement The New Exchange Rate

Sunday 19 February 2023 10:15 | Economical Number of readings: 286  Baghdad / NINA / - Independent MP Jawad Al-Yasari confirmed: The power of speculators and currency traders is delaying the government's measures to implement the new exchange rate.

He told the National Iraqi News Agency / NINA /: that despite the government's good decision regarding the exchange rate, which to some extent stopped its rapid and continuous rise, its implementation procedures are still slow.

Al-Yasari added: The strength of traders and price speculators and their continued manipulation without committing to the new price delayed the implementation of the government decision.

And he continued: The government's procedures regarding this matter are slow and unclear, which require quick and effective steps that enhance citizen confidence in official procedures./

https://ninanews-com.translate.goog/Website/News/Details?key=1034276&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Iraqi News Highlights Saturday Evening 2-18-23

Iraqi News Highlights Saturday Evening 2-18-23

Tlm724 Administrator Bondlady’s Corner

An Economist Told NINA: The Time Has Come To Approve The 2023 Budget...And To Price A Barrel Of Oil At 70 Dollars

Saturday 18 February 2023 12:12 | Economical Number of readings: 319  Baghdad / NINA / - The expert in economic affairs, Safwan Qusai, stressed the importance of approving the general budget for the year 2023 as soon as possible and not delaying it further, calling for setting the price of a barrel of oil in the 2023 budget at a price of 70 dollars.

Qusai said in a statement to the National Iraqi News Agency (NABNA): "It is clear that the passage of the 2023 budget has been long delayed due to the Ministry of Finance adjusting the estimates of imported items and reconsidering the issue of social welfare, as well as reconsidering determining the exchange rate," stressing that:

"The time has come to send This budget as soon as possible and set the price of a barrel at 70 dollars, because covering the deficit can be done through the rise in oil prices above 70 dollars, and currently it is at an average of 85 dollars.

He stressed the need to rationalize public spending at this stage, with the need to allocate sufficient funds to the Ministry of Commerce to import all kinds of goods that are purchased at the official price through the window, and that the sale process be a final revenue for the Ministry of Finance, and thus we ensure that prices are not linked to the parallel market price, but are controlled. Through the Ministry of Commerce and other federal ministries, which can import materials at official prices./End

https://ninanews.com/Website/News/Details?Key=1034119

Confirming Its Readiness To Hold A National Economic Conference, The Department Of Private Sector Development Launches A Platform

Posted On2023-02-18 By Sotaliraq  The Iraq Stock Exchange for food and construction materials

Baghdad_Media of Trade   The Private Sector Development Department in the Ministry of Commerce announced the launch of the Iraq Stock Exchange on the Internet for the first time, for the prices of food and construction materials in the local market.

The director general of the department, Muhammad Hanoun, said in a statement, “The Iraq Stock Exchange platform was launched on the Internet, which is concerned with the prices of food and construction materials, in an important step to study the prices of the local market and find realistic solutions to the phenomenon of high prices through effective measures aimed at stabilizing prices through the parallel line that The Ministry of Commerce is currently working on it.

He pointed out, "His department also continues to prepare for convening a national economic conference to study the problems of the Iraqi economy through the participation of the private sector and the development of the complementary relationship with the public sector, which bears the responsibility for drawing up commercial and economic policies and overseeing and following up the market."

He added, "The conference, in which professors from Iraqi universities and scientific competencies from the Ministry of Trade will participate, will include several important axes that discuss the crises of the Iraqi economy and develop appropriate solutions to all problems in coordination with Iraqi private sector organizations and other sectoral ministries."

He pointed out, "The department is working to implement the goals entrusted to it within the government program, which is followed up in detail by the Minister of Commerce, as well as mechanisms for working in medium and small projects and caring for workers in these projects." LINK

Al-Sudani: Iraq Desires To Conclude Advanced Development Partnerships With The European Union Countries

Money and business  Economy News-Baghdad    The Prime Minister, Mohamed Shia'a Al-Sudani, stressed the importance of the European Union's support for the government's efforts to combat corruption and recover wanted persons and stolen funds.

A statement by the media office of the Prime Minister stated, "The prime minister met at his residence, the President of the European Commission, Ursal Vondralen, on the sidelines of his participation in the Munich Security Conference in its 59th session, where during the meeting they reviewed relations between Iraq and all European Union countries."

Al-Sudani affirmed, "Iraq's desire to conclude advanced development partnerships with the countries of the Union in various fields," noting that "his meetings with the leaders of Germany, France and Italy come on the path of economic cooperation, and building bonds of cooperation to face economic challenges and the effects of climate change and build stability and sustainable development."

He referred to "the framework agreement between the Ministry of Finance and the European Investment Bank, and openness to European companies' investments and their contribution to the service sector in Iraq," stressing "

For her part, Vondralen expressed her "support for the Prime Minister and his reform decisions, and the willingness of all European Union countries to cooperate and exchange with Iraq, in light of the long-term partnerships."

She pointed to "the seriousness of European countries in finding real partnerships in the fields of energy and renewable energy."   https://economy-news.net/content.php?id=32519

Canada Announces Its Readiness To Rehabilitate Oil Pipelines And Use Alternative Energy In Iraq

Energy    Economy News-Baghdad  Today, Saturday, the Canadian government confirmed its readiness to rehabilitate oil pipelines and use alternative energy in Iraq.

The Canadian ambassador to Baghdad, Gregory Galligan, said during a speech at the second conference on oil and gas in Iraq, and that "Canada is working with Iraq in developing many areas, especially in the field of governance," pointing out that "millions of dollars have been invested to support the Iraqi economy."

He added, "Iraq, through the development of its economy, supports empowering youth and fighting unemployment, as well as supporting education, especially for women," noting that "Canada supports Iraq in the field of environmental treatments, in addition to cooperation with Iraq in the field of oil and gas."

And he indicated that "Canada's pioneering experience in the field of oil and gas extraction can be transferred to Iraq, especially in the field of emitted gases, the exchange of experiences, the rehabilitation of oil transport pipelines, the use of alternative energy such as solar energy, and the provision of Canadian expertise, especially in the technological fields."

https://economy-news.net/content.php?id=32523

Oil Drops Two Dollars And Records A Weekly Loss

Economie| 09:06 - 02/18/2023   Follow-up - Mawazine News  Oil fell by $2 a barrel at the settlement on Friday and ended the week lower.  This comes amid fears on the part of dealers that demand will be affected by any future hike in US interest rates, and they became nervous due to increasing signs of abundant supplies of crude and fuel.

rent crude futures fell $2.14 a barrel, or 2.5 percent, to settle at $83 a barrel, bringing their losses to 3.9 percent for the week.  US West Texas Intermediate crude fell $2.15, or 2.7 percent, to end trading at $76.34 a barrel, a weekly loss of 4.2 percent compared to last Friday's closing price.

https://www.mawazin.net/Details.aspx?jimare=219646

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

https://www.bondladyscorner.com/

Saturday "Vietnam News" Posted by Henig at KTFA 2-18-2023

KTFA: Vietnam

Henig:  Viet Nam to issue e-passports in March

07:00 | 18/02/2023

The Ministry of Public Security and the Vietnamese diplomatic missions abroad will officially issue passports containing electronic chips for Vietnamese citizens from March 1, 2023.

An e-passport will be embedded with a microchip that stores the holder’s personal information, fingerprint scans, identification photo, and a digital signature.

The electronic chip is attached to the back cover of the passport. Languages used in the passport include Vietnamese and English.

Citizens who are at least 14 years old are eligible to apply for a passport with or without the electronic chip. The passports are valid for 10 years.

E-passport holders will be given priority by the foreign sides when considering and granting entry visas.

Vietnamese citizens who had been granted physical passports are allowed to use them until expiration dates without any requirement to shift to e-passports.

According to the International Civil Aviation Organization, more than 100 countries have already rolled out e-passports.

Source: VGP   LINK

Henig:  Central bank to prioritise credit for production, business in HCM City

13:08 | 18/02/2023

The State Bank of Vietnam’s (SBV) Ho Chi Minh City branch will continue to prioritise credit for production and business, especially in priority sectors, to boost economic recovery.

Nguyen Duc Lenh, deputy director of the SBV’s HCM City branch, said the credit flow would be directed to priority sectors while credit quality would also be improved.
Priority fields include agriculture, rural areas, exports, small and medium-sized enterprises, supporting industries, high-tech enterprises, and others.

Credit institutions must also ensure stable liquidity, safe banking operations, and strictly control credit from potentially risky areas, according to Lenh.

Credit growth in the city has focused on production and business to support economic recovery, accounting for 60-70% of the total outstanding loans, said Lenh.

Last December, the SBV lifted the credit growth target by 1.5-2 percentage points for 2022 from its earlier target of 14%, allowing lenders to lend an additional 240 trillion VND (9.7 billion USD).

Interest rates remain high

Economist Le Xuan Nghia, a member of the National Financial and Monetary Policy Advisory Council, said interest rates are still too high, despite the central bank calling on banks to cut lending rates to support enterprises.

Deposit interest rates at banks have surged to as much as 12% per year, pushing lending interest rates up to 15-16% a year, he said.

If the inflation rate is around 4%, the savings interest rates should be around 6-7% per year, he added.

Experts have predicted the deposit interest rate will remain high at least until June and that deposit rates would peak in the first half of 2023 with an increase of 1-1.5 percentage points.

Recently, the Vietnam Banks Association called on commercial banks to keep deposit interest rates at 9.5% or below to reduce lending interest rates.

Commercial banks started lowering deposit interest rates early this month and cut further last week, raising hope of a drop in lending rates.

SBV Governor Nguyen Thi Hong has constantly called on banks to cut operating costs and improve administrative procedures so as to reduce lending interest rates.

Expert Can Van Luc said enterprises should look to other capital mobilisation channels instead of relying too much on bank loans.

Source: VNA   LINK

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Henig:  Vietnam sees Russia as prioritised partner: NA official

07:12 | 18/02/2023

National Assembly Vice Chairman Nguyen Khac Dinh held talks with visiting First Deputy Speaker of the Federation Council of Federal Assembly of Russia (upper house) Andrey Yatskin in Hanoi on February 17, during which the host underlined that Russia is one of the prioritised and most important partners in Vietnam’s external policy.

National Assembly Vice Chairman Nguyen Khac Dinh held talks with visiting First Deputy Speaker of the Federation Council of Federal Assembly of Russia (upper house) Andrey Yatskin in Hanoi on February 17, during which the host underlined that Russia is one of the prioritised and most important partners in Vietnam’s external policy.

Dinh, who is also Chairman of the Vietnam - Russia Friendship Parliamentarians’ Group, affirmed that Vietnam always remembers and treasures the support that Russia has given to Vietnam in the past struggle for national liberation and current national development.

He said that Vietnam hopes to continue the substantial and effective cooperation with Russia in all areas for the interest of both sides.

Highlighting the high level of political trust between the two countries, Dinh spoke highly of the mutual support between the two sides at multilateral mechanisms, and thanked Russia for supporting Vietnam to run for a seat at the UN Human Right Council for the 2023-2025 tenure.

The host affirmed that Vietnam supports Russia’s active and constructive role in the region and the world, and is willing to help connect Russia and ASEAN.

He proposed that Russia consider the adjustments and upgrading of the free trade agreement between Vietnam and the Eurasian Economic Union (EAEU), towards giving more favourable conditions for bilateral partnership. The two sides should continue to work together to remove non-tarrif barriers in bilateral trade, especially in agriculture.

For his part, Yatskin, who is also head of the Russian Federation Council’s group for cooperation with the NA of Vietnam, expressed his delight at the strong trust between the two countries with resumed the exchange of delegations at all level after the COVID-19 pandemic, as well as the regular meetings and mutual support within the framework of multilateral cooperation mechanisms.

Regarding cooperation in the parliamentary channel, the two sides agreed that this is one of the important pillars in Vietnam-Russia relations. The relations among legislative bodies of the two sides have expanded even amid the pandemic, with telephone talks held between the Vietnamese NA leader and the Speaker of the Federal Council of Russia, and many bilateral meetings on the sidelines of multilateral inter-parliamentary forums, they said.

Both sides have actively implemented their cooperation agreement signed in 2012, they said, noting that parliamentarians of the two sides have maintained consultations and cooperation within inter-parliamentary forums such as the Inter-Parliamentary Union (UPU), the World Conference of Speakers of Parliament (WCSP), the ASEAN Inter-Parliamentary Assembly (AIPA), and the Meeting of Speakers of Eurasian Countries' Parliaments (MSEAP).

Dinh said that the 12-member Vietnam - Russia Friendship Parliamentarians’ Group hopes to strengthen relations with its Russian peer, contributing to promoting ties between the two parliaments and the two countries.

The two sides agreed to increase the exchange of delegations between the two legislatures and the sharing of legislative experience as well as mutual support at multilateral parliamentary forums.

They pledged to strengthen coordination in supervising the implementation of collaboration deals signed between the two Governments, and work closely with relevant agencies of both sides to organise activities to mark the 10th anniversary of the Vietnam-Russia Comprehensive Strategic Partnership, and the 100th year of President Ho Chi Minh’s arrival in Russia.

The two countries' legislatures should work together to create favourable conditions for the two Governments, as well as localities and businesses of both sides to boost their partnership, they said. The two friendship parliamentarians’ groups should also improve their connections to promote their role in strengthening ties between the two legislatures.

At the talks, Yatskin lauded Vietnam’s achievements in socio-economic development, especially the country’s success in maintaining economic stability and speeding economic recovery and growth during and after the COVID-19 pandemic.

Source: VNA LINK

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Henig:  Joint campaign launched to reduce plastic waste in Việt Nam's tourism sector

10:00 | 18/02/2023

A new campaign aimed at reducing plastic waste in Việt Nam's tourism industry was launched on Thursday, signalling the country's commitment to its sustainable development goals and environmental protection.

The joint effort is led by the Institute of Strategy and Policy on Natural Resources and Environment (ISPONRE) under the Ministry of Natural Resources and Environment, the Vietnam Tourism Association, and the United Nations Development Programme (UNDP) in Việt Nam.

The campaign encourages individuals and organisations in charge of cultural, sports, and tourism venues to reduce and eliminate single-use plastic and waste disposal. Tourists, visitors, and local communities are also advised to use environmentally-friendly products and technology.

According to ISPONRE's Deputy Director, Nguyễn Trung Thắng, while there are support policies for waste recycling, there is still a lack of specific guidelines on technology selection, solid waste treatment, national technical standards on recycling, and access to incentives stated in the 2020 environmental protection law.

To perfect the laws and policies on plastic waste management in Việt Nam, Thắng believes that there must be detailed regulations and guidelines on the roadmap to reduce the production and import of single-use plastic, non-biodegradable plastic packaging, plastic waste sorting, as well as on the extended liability of manufacturers on the packaging.

Specific regulations on incentives for recycling and reusing plastic waste, harnessing energy from the waste treatment process, and consuming post-processed products must also be established.

Economic tools such as adjusting the environmental protection tax could also aid in managing plastic waste.

UNDP representative Nguyễn Thị Thu Huyền stated that plastic waste pollution is a major global challenge due to its negative impacts on the environment, particularly on marine life.

Many countries worldwide have introduced initiatives to call for global actions on plastic pollution, taking into account legal compliance.

Prime Minister Phạm Minh Chính approved a project in August 2021 on the country's active participation in forming a global treaty on marine plastic pollution.

Hà Văn Siêu, deputy director of the National Administration of Tourism under the Ministry of Culture, Sports and Tourism, believes that the "Reducing Plastic Waste in Vietnamese Tourism Sector" project will help raise awareness among all levels and departments, businesses, locals, and tourists on the matter.

Initiatives and solutions to reduce plastic waste will be piloted at several restaurants, hotels, and tourist attractions in Ninh Bình and Quảng Nam provinces before being scaled to the national level.

The project has been granted funding from the UNDP's Global Environment Facility Small Grants Programme for operations in 2023 and 2024.

It will also help build, pilot, and issue criteria to recognise no-plastic tourism businesses, an action plan to reduce plastic waste in tourism, and an application on plastic waste management.

Regulations to reduce plastic waste in tourism were introduced in Decision No. 4216/QĐ-BVHTTDL, which promulgates the code of conduct for environmental protection in culture, sports, and tourism activities.

Source: VNS    LINK

Henig:  Repairs for undersea internet cables to last from March to April

Domestic internet service providers said on February 7 that the Network Operation Center (NOC) Services announced the repairs scheduled for three broken undersea cables that have resulted in slowed connections in Vietnam in the last few weeks.

VNA Wednesday, February 08, 2023 19:27  

Hanoi (VNA) - Domestic internet service providers said on February 7 that the Network Operation Centre (NOC) Services announced the repairs scheduled for three broken undersea cables that have resulted in slowed connections in Vietnam in the last few weeks.

Four out of five submarine internet cables connecting Vietnam and the world are simultaneously seeing issues, an unprecedented occurrence.

According to the plan, the disruption on the S6 line of the Asia Pacific Gateway (APG) cable will undergo fixes between March 22-27, while repairs on the S9 line will be conducted on April 5-9.

The ruptures on the Asia, America Gateway (AAG) will be repaired between March 30 and April 4.

Repairs for the 6,800km Intra Asia cable are slated for mid-March, as registration and licensing of ships for the maintenance of the line are still underway.

There is also a problem with the Asia-Africa-Euro 1 (AAE-1) cable near Hong Kong (China) but the NOC has not announced a repair timeline.

This means that internet connection quality between Vietnam and the world will only improve towards the end of March, even mid-April.

The only undersea cable that is still operating normally is the Southeast Asia-Middle East-Western Europe 3 (SMW-3), but this is an old cable with low capacity and does not contribute much to Vietnam's internet traffic to overseas servers.

There have been about 10 incidents on undersea fibre optic cables each year in the last decade. A representative of the Vietnam Internet Association said that incidents on fibre optic lines are not rare but also unpredictable.

Previously, when only one or two cable lines had problems concurrently, Vietnamese internet providers could quickly offload internet traffic between cable lines.

Currently, land-based internet cables cannot be upgraded quickly due to equipment limitations and other factors.

Troubleshooting on undersea fibre optic cables depends heavily on the severity of the problem, the weather at sea, the time it takes to get permission to access the waters of countries to carry out repairs, and many other factors. Therefore, instability and slow connection speeds will persist in the weeks to come.

Representatives of major network operators in Vietnam - including Viettel, VNPT and FPT - are committed to actively working with cable managers and international partners to quickly handle and ensure service provision for customers.

VNA   LINK

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Henig:  Chemical industry applies top technologies

06:00 | 17/02/2023

(VEN) - Enterprises in Vietnam’s chemical industry have applied new technical solutions and production methods, technological innovations and product diversification.

According to the Science and Technology Department under the Ministry of Industry and Trade (MoIT), many advanced technologies have been researched and applied into chemical industry production with good results. Specifically, production of superphosphate or fused phosphate fertilizers by Lam Thao Fertilizers and Chemicals JSC (LAFCHEMCO) has reduced coal and electricity consumption, emissions and noise, while also helping the company source raw materials, reduce production costs, and increase prestige by expanding exports to demanding markets.

A project by Pham Quang Tuyen of LAFCHEMCO adopting technological solutions for treating acid H2SiF6 to reduce environmental treatment costs was awarded first VIFOTEC (Vietnam Fund for Supporting Technological Creations) prize in 2017. Another project to improve the quality of fused phosphate fertilizer has met the domestic demand and export requirements to Australia, Japan, Malaysia, and more.

In processing and manufacturing rubber products, Da Nang Rubber Joint Stock Company has effectively applied results of research projects for the production of tires for bicycles, motorcycles and automobiles; while the Sao Vang Rubber JSC researched and manufactured tubeless inflatable aircraft tires – a completely new technology in Vietnam. Similarly, the Southern Rubber JSC has researched the production process of tubes for motorcycles and industrial vehicles using butyl rubber. The product has more dominant technical features compared to the same type of tires made of natural rubber in terms of air tightness, heat resistance, longevity as well as weight.

In the production of basic chemicals, Can Tho Fertilizer and Chemical JSC has successfully applied technology to produce Zeolite 4A products with 99 percent purity for detergent production, aquaculture, cosmetic chemicals, and industrial catalysts. Meanwhile, the Southern Chemicals JSC researched solutions to improve the efficiency of using excess heat from the sulfuric acid production chain to produce steam and hot gas, reducing the consumption of fuel oil (FO) and liquefied petroleum gas (LPG). In addition, the South Basic Chemicals JSC and Viet Tri Chemical JSC have researched and produced PAC (Poly Aluminum Chloride) products of high quality at low prices, which can compete with imported PAC products from China.

In the chemical pharmaceutical industry, too, various research results have been commercialized, launching products of the same quality as imported goods at competitive prices. These include Cebraton softgels produced by Traphaco JSC for blood pressure control; ASAKOYA sedative products by Mediplantex National Pharmaceutical JSC to treat insomnia, and Gac oil products of Vimedimex Medi – Pharma JSC.

By viewing science and technology as a fundamental factor for the growth and efficiency of production and trading activities, the chemical industry has renovated technologies, machinery and equipment, and improved its research capacity.

Quynh Nga   LINK

Iraqi News Highlights Saturday Afternoon 2-18-23

Iraqi News Highlights Saturday Afternoon 2-18-23

Tlm724 Administrator Bondlady’s Corner

US Ambassador: The Opportunity Is Available For Iraq To Play A Greater Role In The Global Energy Market

Economie| 11:31 - 02/18/2023   Baghdad - Mawazine News  The US Ambassador to Iraq, Alina Romanowski, said on Saturday that the opportunity is available for Iraq to play a greater role in the global energy market.  Romanowski wrote in a tweet, "I spoke today at the Baghdad Oil and Gas Exhibition and highlighted the opportunity for Iraq to play a greater role in the global energy market to ensure its energy independence and create more jobs for Iraqis."  Romanowski added, "The private sector in the United States is ready to participate in making this a reality."  https://www.mawazin.net/Details.aspx?jimare=219661

Details Of The Sudanese Meeting With The US Secretary Of State In Munich

Political | 01:08 - 02/18/2023   Baghdad - Mawazine News  , Prime Minister Muhammad Shia al-Sudani affirmed, on Saturday, that the government puts the goal of establishing balanced relations at the forefront, while the US Secretary of State appreciated Iraq's regional role in stabilizing stability.

And a statement by Al-Sudani's office said, "Prime Minister Muhammad Shia'a Al-Sudani received, at his residence, US Secretary of State Anthony Blinken, on the sidelines of his participation in the 59th Munich Security Conference."

According to the statement, "the meeting witnessed discussions on the files of bilateral relations, and ways to strengthen and develop them at various levels and fields, in a way that enhances Iraq's ability to face economic challenges and development requirements."

Al-Sudani stressed, "Iraq gives special priority to economic reforms, the government's focus on developing the energy sector, and the establishment of development and investment partnerships in the gas sector."

He referred to "Iraq's desire to consolidate cooperation with the United States to combat terrorism, within the framework of providing training, advice and information exchange for the Iraqi security forces, in a manner that preserves Iraq's sovereignty and independence," stressing that "the government puts the goal of establishing balanced relations at the fore, in addition to the importance of the Iraqi role in stabilization in the region.

For his part, Blinken praised "the Iraqi government's plans for reform and development, and giving the energy sector priority in work and development," stressing "the US government's appreciation of Iraq's regional role in stabilizing stability," while renewing "support for the Iraqi government in its progressive, reform and development plans at various levels." and domains.” Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=219669

Cabinet Secretariat: Starting Work With Electronic Payment Devices In Early June

Economie| 10:55 - 02/18/2023   Baghdad - Mawazine News  The General Secretariat of the Council of Ministers announced, on Saturday, the start of work with electronic payment devices (POS), at the beginning of next June.

A spokesman for the Secretariat, Haider Majeed, told the official news agency, “The General Secretariat of the Council of Ministers, through the Department of Cabinet Affairs and the concerned committees, is following up on the implementation of the decisions issued by the Council of Ministers, especially work at points of sale via electronic payment (POS), as there is a special section in the Department of The affairs of the Council of Ministers and committees follow up on the implementation of these decisions, as well as there are timetables that are set for the implementation of the decision.

Majid pointed out, "The government media team in the prime minister held a meeting with the Central Bank of Iraq and the Ministry of Finance, and there is also communication with the Association of Iraqi Banks on the need to develop a tight media plan to demonstrate the importance of these devices and the ease of their use."

He added, "The electronic payment devices will facilitate all cash transactions for citizens in official state institutions, private sector institutions, shops, markets, gas stations, hotels and medical clinics."

He continued, "The media campaign will start soon to educate the public about the benefits of these devices, which are scheduled to start operating in early June of this year." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=219657

Oil Drops Two Dollars And Records A Weekly Loss

Economie| 09:06 - 02/18/2023  Follow-up - Mawazine News  Oil fell by $2 a barrel at the settlement on Friday and ended the week lower.

This comes amid fears on the part of dealers that demand will be affected by any future hike in US interest rates, and they became nervous due to increasing signs of abundant supplies of crude and fuel.

Brent crude futures fell $2.14 a barrel, or 2.5 percent, to settle at $83 a barrel, bringing their losses to 3.9 percent for the week.

US West Texas Intermediate crude fell $2.15, or 2.7 percent, to end trading at $76.34 a barrel, a weekly loss of 4.2 percent compared to last Friday's closing price. Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=219646

Al-Sudani to the US Secretary of State: We focus on economic reform and the development of the energy sector

Money and business   Economy News-Baghdad   On Saturday, Prime Minister Muhammad Shia' al-Sudani expressed Iraq's desire to consolidate cooperation with the United States of America in the field of economic and energy cooperation.

This came during his meeting at his residence, before noon today, Saturday, with US Secretary of State Anthony Blinken, on the sidelines of Al-Sudani's participation in the 59th Munich Security Conference, according to a statement issued by the Iraqi government.

The statement stated that the meeting witnessed discussions on the files of bilateral relations, and ways to strengthen and develop them at various levels and fields, in a way that enhances Iraq's ability to face economic challenges and development requirements.

Al-Sudani affirmed that Iraq gives special priority to economic reforms, the government's focus on developing the energy sector, and the establishment of development and investment partnerships in the gas sector.

The Prime Minister also indicated Iraq's desire to consolidate cooperation with the United States to combat terrorism, within the framework of providing training, advice and information exchange for the Iraqi security forces, in a way that preserves Iraq's sovereignty and independence, stressing that the government puts the goal of establishing balanced relations at the forefront, in addition to the importance of the Iraqi role. in stabilizing the region.

For his part, Blinken praised the Iraqi government's plans for reform and development, and gave the energy sector a priority in work and development.

 He emphasized the appreciation of the US government for Iraq's regional role in stabilizing stability, and reaffirmed support for the Iraqi government in its progressive, reform and development plans in various fields and fields.   https://economy-news.net/content.php?id=32526

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

https://www.bondladyscorner.com/

Saturday "Iraq News" Posted by Henig at KTFA 2-18-2023

KTFA:

Henig:  PRIME MINISTER CONFIRMS IRAQ'S DESIRE TO ENHANCE PROSPECTS FOR COOPERATION WITH BRITAIN

Friday, 17 February 2023 11:05 PM

Baghdad / National News Center

Prime Minister Mohammed Shia Al-Sudani affirmed Iraq's desire to enhance prospects for cooperation with Britain.

The Prime Minister's Office said in a statement received by the National News Coder that "Prime Minister Mohamed Shia Al-Sudani met at his residence in Munich, Germany, on Friday

British Foreign Minister James Cleverly, on the sidelines of his participation in the Munich Security Conference," noting that "the meeting reviewed bilateral relations and ways to develop them between the two countries, and discussed developments in the regional and international situation, as well as discussing strengthening cooperation and partnership frameworks in various economic, cultural and educational fields and sectors, and in the fields of energy and investment."

Al-Sudani stressed that "Iraq looked forward to balanced relations at the regional and international levels, and its desire to enhance the prospects of cooperation with Britain, and to exploit the available capabilities in order to build various economic partnerships, and pointed to the economic reforms adopted by the government program, which would advance the reality of Iraq and its development."

For his part, the British Foreign Secretary affirmed his country's commitment to everything that would enhance stability in Iraq, and affirmed his country's support for the economic development path pursued by the current government, towards further development and economic integration.   LINK

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Henig:  After meeting the Sudanese in Munich. Interpol to issue a special notice on financial crimes committed in Iraq

2023-02-17 11:16

Iraqi Prime Minister Mohammed Shia al-Sudani on Friday called on the Secretary-General of the International Criminal Police Organization (Interpol), Jürgen Stock, to visit Iraq, and discussed with him bilateral cooperation in the field of recovering funds and wanted persons.

This came during a meeting that brought them together on the sidelines of Sudani's participation in the Munich Security Conference, according to a statement by his office and reported to Shafaq News.

Al-Sudani stressed during the meeting that "the theft of public money is one of the most important challenges facing Iraq, and that combating corruption is among the priorities of the government program," noting that "the government's procedures require cooperation from the organization, especially in the issue of dealing with requests submitted regarding financial crimes."

Al-Sudani also explained that "the theft of public funds and the use of the global financial system to smuggle and launder money is a cross-border international crime, and has harmed Iraq, in addition to being one of the most important enablers of terrorism. He stressed that the return of those wanted for these crimes is one of the most important steps to deter this crime.

The Prime Minister referred to "the government's measures in securing the Iraqi borders and linking them to Interpol services fully, and called on the International Interpol Organization to provide support in the field of training and capacity building for cadres working at the headquarters and the offices of Interpol established at border crossings, as well as cooperation in the field of exchanging security information with member countries of the international organization, and in the field of supporting financial crimes investigations related to money laundering and terrorist financing, and the Financial Action Task Force (FATF)."

Al-Sudani expressed "Iraq's desire to make the most of the areas provided by Interpol, and to contribute to the dissemination of all blue and green notices for perpetrators of terrorist crimes, especially the information shared in Interpol's databases within the Foreign Terrorist Fighters Project."

The Prime Minister extended an invitation to the Secretary-General to visit Iraq at the earliest opportunity.

For his part, the Secretary-General of Interpol expressed the organization's readiness to cooperate with Iraq in urging countries to recover stolen funds, wanted and convicted in corruption cases, and pointed out that Interpol established a competent department a year ago, and will issue a special notice on financial crimes committed in Iraq.   LINK

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Henig:  SUDANI: THEFT OF PUBLIC MONEY IS ONE OF THE MOST IMPORTANT CHALLENGES FACING IRAQ

  Friday, 17 February 2023 10:05 PM   Baghdad / National

News Center Prime Minister Mohammed Shia Al-Sudani invited the Secretary-General of the International Criminal Police Organization (Interpol), Jürgen Stock, to visit Iraq.

The Prime Minister's Information Office said in a statement received by the National News Center that "Prime Minister Mohamed Shia Al-Sudani met on Friday with the Secretary-General of the International Criminal Police Organization Interpol Jürgen Stock."

During the meeting, Al-Sudani stressed that "the theft of public money is one of the most important challenges facing Iraq, and that combating corruption is among the priorities of the government program," noting that "the government's procedures require cooperation from the organization, especially in the issue of dealing with requests submitted regarding financial crimes."

"The theft of public funds and the use of the global financial system to smuggle and launder money is an international crime across borders, and has harmed Iraq, in addition to being one of the most important enablers of terrorism," al-Sudani said. "The return of those wanted for these crimes is one of the most important steps to deter this crime," he said.

The Prime Minister referred to "the government's measures in securing the Iraqi borders and linking them to Interpol services fully," calling on the International Interpol Organization to provide support in the field of training and capacity building for cadres working at the headquarters and the offices of Interpol established at border crossings, as well as cooperation in the field of exchanging security information with member countries of the international organization, and in the field of supporting investigations of financial crimes related to money laundering and terrorist financing, and the Financial Action Task Force (FATF).

He expressed Iraq's desire to make the most of the areas provided by Interpol and to contribute to the dissemination of all blue and green notices for perpetrators of terrorist crimes, especially the information shared in Interpol's databases within the Foreign Terrorist Fighters Project.

He extended an invitation to the Secretary-General to visit Iraq at the earliest opportunity. LINK

Henig:  Integrity reveals manipulation and waste of public money by tens of millions in Basra

2023-02-17 10:13

Shafaq News / The Federal Integrity Commission announced that it has carried out seizures of cases of manipulation of the names of volunteers to work within the teaching staff, embezzlement and waste of public money, fake receipts and disbursement operations worth tens of millions, most notably in a nuclear detection device contrary to the law in Basra Governorate.

"The Basra Investigation Directorate team has adjusted the priorities for the forms of the names of volunteers to work within the teaching staff and the date of their commencement issued by school administrations in the province and addressed to the Directorate of Education in it after it detected manipulation in it," the investigations department said.

The department indicated that "some school administrations manipulated the dates of commencement for the purpose of including job grades within (10,000) thousand grades allocated to Basra education, repeating the forms allocated to each school, and some administrations adding more than (30) names, contrary to the education instructions, which allocated (5) names for each school."

In the health departments, "the Directorate carried out three separate operations in Al-Sadr, Basra and Al-Fayhaa Educational Hospitals, in which (6) documents for the disbursement and purchase of medicines and medical supplies were seized at Al-Sadr Hospital without bringing offers and from offices outside the governorate with an amount of (62) million dinars, contrary to the instructions for implementing the Federal Budget Law, in addition to seizing (16) purchase documents for "kerosene" for the years (2017-2022) at Basra Hospital, amounting to (73,775,000) million dinars according to fake receipts attributed to private offices, as well as seizing ticket receipts. It was manipulated and falsified by ticket officials at Fayhaa Hospital."

The department pointed to "the seizure of exchange transactions for the dispatches of employees of the General Company for the Production of Electric Power in the South / Commercial Affairs Department, whose total amounts disbursed amounted to (56,056,000) million dinars, after investigations proved that most of the receipts allegedly issued by hotels in Baghdad are fake receipts."

She added that the nuclear detector device was seized in the Nuclear Physics Research Laboratory at the College of Science at the University of Basra, and it was purchased, despite the absence of administrative orders to do so, pointing out that it was purchased for (38,000,000) million dinars and not entered into the main store of the college, because it violated the required specifications.

In Abu al-Khasib, the original file of a property owned by the Sunni Endowment Office was seized in the city's real estate registration note because a group of people disposed of it and sold it without legal justification, despite the existence of judicial decisions to annul all real estate restrictions made on it and return it to the state.     LINK

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Henig:  JPMorgan: Oil will exceed $100 a barrel in this case

Economy News - Baghdad

JPMorgan analysts said in a note on Friday that Brent crude prices are unlikely to exceed the $2023 per barrel mark this year unless major geopolitical developments occur, amid prospects that the OPEC+ group will increase supply and Russian flows will recover by mid-<>.

According to the note, the OPEC+ group, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers including Russia, is unlikely to defend the eighty dollar level and therefore will not need to reduce production quotas this year.

She said the bloc could instead add 400,<> bpd to output.

Saudi Energy Minister Prince Abdulaziz bin Salman said on Thursday that the current OPEC+ agreement to cut production target by two million barrels per day will remain in place until the end of the year.

JPMorgan analysts said that with Russian production expected to fully recover by June, and high price levels preventing the United States from buying back to boost its strategic petroleum reserves, the gap between the balance of supply and demand is likely to narrow.

Brent crude futures are trading near $84 a barrel on Friday and are heading for a weekly decline amid expectations that any tightening monetary policy in the United States could undermine demand.

JPMorgan maintained its estimate of oil demand growth from China, the biggest importer, at 770,<> bpd.

Analysts expect China to import record volumes of crude in 2023 due to increased demand for fuel, mainly due to the recovery of movement and travel after the lifting of Covid-19 restrictions    LINK

"Tidbits From TNT" Saturday 2-18-2023

TNT:

CandyKisses:  Parliamentary Finance reveals the results of the visit of the Iraqi delegation to Washington

Information / Baghdad .. 

Member of the Parliamentary Finance Committee, Faisal Al-Naeli, revealed, on Saturday, the results achieved by the Iraqi delegation during his visit to Washington, noting that the delegation discussed with Washington lifting the restrictions imposed by the US Federal Bank on Iraq. 

Al-Naeli said in an interview with Al-Maalouma agency, that "the Iraqi delegation's visit to Washington came to come to an understanding about the dollar crisis," adding that "the delegation discussed with Washington lifting the restrictions imposed by the US Federal Bank on Iraq," and pointed out that "the negotiations reached multiple agreements. 

" This led to the Iraqi government being able to reduce the dollar in the last period. 
He continued, "The Federal Bank's actions restricted the movement of the dollar and delayed money transfers from the Central Bank to banks abroad." 

A member of the Fatah Alliance, Ali Fatlawi, has accused the American side of playing on the chord of hitting the economy in order to achieve and implement its policies, pointing out that America is behind raising the value of the dollar currency in the Iraqi markets in order to achieve his goals. 

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Tishwash:  The launch of the second oil and gas conference in Iraq (2/18)

 The second oil and gas conference will be held today in Baghdad, with the participation of local and international companies. The conference is scheduled to last for two days.

Major local and foreign companies in the field of oil and gas, as well as Arab and foreign diplomats working in Iraq, will participate in the second oil and gas conference in Iraq.

The conference continues for two days in Baghdad, with the participation of more than 400 delegates and representatives of local and foreign companies, most notably Baker Hughes, Scope Petroleum, Lukoil, Total, Crescent Petroleum, Weatherford, and many other international and local companies supporting this conference.

Erbil (Kurdistan 24) - The second oil and gas conference will be held today in Baghdad, with the participation of local and international companies. The conference is scheduled to last for two days.

Major local and foreign companies in the field of oil and gas, as well as Arab and foreign diplomats working in Iraq, will participate in the second oil and gas conference in Iraq.

The conference continues for two days in Baghdad, with the participation of more than 400 delegates and representatives of local and foreign companies, most notably Baker Hughes, Scope Petroleum, Lukoil, Total, Crescent Petroleum, Weatherford, and many other international and local companies supporting this conference.   link

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CandyKisses:  Report: Erbil resorts to Paris to pressure Baghdad and the latter is unable to implement its pledges

Baghdad - Nas   

The London-based newspaper "Al-Arab" suggested that Erbil needs a "dose" of external support to pressure Baghdad on reaching a settlement on the outstanding files between them, especially since Iraqi Prime Minister Mohammed Shia Al-Sudani does not seem able to translate his pledges into words in light of his lack of practical decision-making authority, as she put it.    

The newspaper stated in a report followed by "NAS", (February 18, 2023), that "Iraqi political circles say that the visit of the President of the Kurdistan Regional Government, Masrour Barzani, to Paris aims to request French mediation after the difficulty of betting on internal solutions to end the outstanding files between Erbil and Baghdad."  

The report reads as follows:   

Circles say that the Kurdistan Regional Government, led by the Kurdistan Democratic Party (KDP), is trying to avoid options that may be painful, and have negative repercussions, such as resorting to withdrawal from the political process in Iraq, as this option will not stop at its repercussions on the federal government but will also have a cost on the region.  

The same circles indicate that the KRG is betting on the good relations between Paris and Baghdad, and more importantly, there is a French interest in settling differences between Erbil and the federal government to boost its energy investments in Kurdistan.    

Disagreements between Baghdad and Erbil over the management of energy resources in the Kurdistan regions have alienated foreign investors and prompted a number of Western companies to suspend their activities in the region.    

During his visit to Paris, which began on Thursday and continued until Friday, Barzani met with French President Emmanuel Macron, where the two sides stressed the importance of solving the problems between Kurdistan and the federal government radically and on the basis of the constitution and protecting the security and stability of the region.  

The President of the Regional Government also met with the President of the French Senate, Gérard Larch, and held a meeting with a number of business owners, investors, traders and representatives of a group of French companies.  

During the meeting, which was held Friday at the headquarters of the French businessmen association "MEDEF", Barzani urged French companies to increase their investments in the region, expressing his government's readiness to provide all forms of coordination and cooperation in this regard.  

The newspaper's observers believe that talk about the possibility of France playing the role of mediator between Baghdad and Erbil has been on the table for some time, but the question remains about its ability to achieve any breakthrough unless accompanied by the will of both the Kurdish and Iraqi sides, which is not yet available.  

Observers of the French newspaper report said that the main problem lies in the fact that the coordination framework, which represents the political umbrella of the pro-Iranian forces and is the most powerful party currently in the equation of governance in Iraq, does not seem ready or has a real desire for settlement, which is reflected in its coup against the agreements it concluded with the Kurdistan Democratic Party, which led to the end of the political crisis in Iraq, which lasted for about a year, and resulted in the formation of a government led by Muhammad Shia al-Sudani.  

Three Kurdish officials said the agreements included ending the long-running dispute over budget transfers to Erbil and sharing oil revenues between the central government and Kurdistan.  

Observers point out that the Iraqi prime minister, who has already pledged to resolve differences with the region, does not actually have the authority to decide on them, as the decision is mainly due to the coordination framework and behind it Iran, which does not hide hostility to the region and has previously launched rocket attacks on it under the pretext of harboring armed opponents.   

Observers say that the KDP still maintains the chances of achieving a political breakthrough with Baghdad, but its patience is running out as contentious issues are significantly affecting the economic situation within the region, and the party may find itself unable to pay the salaries of government employees in full after recent decisions by the Federal Court.  

According to two Iraqi lawmakers and a Kurdish government official, the Democratic Party could withdraw its support for the federal government if Sudanese fails to deliver on its pledges to resolve existing conflicts.  

A Democratic Party official said after forming the government last year that the Kurds wanted to end the stalemate and therefore supported Sudan's government, but if the other side failed to deliver what was required of it, they would withdraw that support.    

Democratic Party spokesman Shawan Taha said: "There are some political forces that are trying to break our will and we reject this and we will not allow it."  

In January, Iraq's Federal Supreme Court ruled that Baghdad government orders to transfer funds to the KRG to pay salaries for 2021 and 2022 were illegal because they violated Iraq's budget law.  

An adviser, speaking on condition of anonymity, said al-Sudani had tasked the cabinet's legal team with finding a solution to allow salary transfers without violating the court's ruling.  

Other politicians in al-Sudani's camp see escalation with the Kurds by using such court rulings as a necessary political tactic to give him a stronger negotiating position, according to members of parliament.    

But the KRG spokesman remains hopeful that a compromise can be reached. He noted that the KRG delegation would visit Baghdad again on Sunday. Next  

He said that there are obstacles in the way of reaching an agreement with Baghdad, but there is a serious and real intention to reach an agreement on the part of the Kurdistan Regional Government and that it also feels the seriousness of the Sudanese in efforts to resolve those obstacles.  

It seemed clear that the spokesman for the Kurdish government is seeking to maintain a degree of positivity to continue the rounds of negotiations with Baghdad, although observers are skeptical that a breakthrough can occur unless accompanied by external impulse.  

Mot: .... ooops! ~~~~

Mot:  .. Shes Gunna Do Great I Thinks!! ~~~

Saturday Morning Iraq Economic News Highlights 2-18-23

Saturday Morning Iraq Economic News Highlights 2-18-23

Al-Rafidain Bank Announces The Requirements For Obtaining Dollars From Basra International Airport

Today, Saturday, Al-Rafidain Bank announced the requirements for obtaining dollars from Basra International Airport.   A bank statement stated, “In view of the imminent opening of the Al-Rafidain Bank outlet at Basra International Airport, we would like to inform travelers of the need to bring the following documents for the purpose of obtaining dollars, which are as follows:

1 - A valid passport  2 - travel ticket  3 - boarding pass  4 - Issuing a Master Card, preparing a KYC card, and copying documents for free at the Al-Rafidain Bank outlet at Basra International Airport

And the statement stressed that “the date of travel will be on the same day as the application for obtaining dollar cash from the Rafidain Bank outlet at the airport.”

https://takadum-news.com/archives/149708

Economist: Imposing Customs Duties On Some Raw Materials Is Sabotaging The Economy

Saturday 18 February 2023 09:46 |Economical Number of readings: 227  Baghdad / NINA / The economic affairs specialist, Dergham Muhammad Ali, considered the imposition of customs duties on some materials and commodities as "a step towards economic sabotage, not reform."

Muhammad Ali said in a statement to the National Iraqi News Agency / NINA /: “Some of these commodities are considered among the raw materials involved in the industry, on which customs duties were not imposed, such as cartons and some other issues that fall within the local industry.These matters will incur additional costs on the local product, which leads to the discontinuation of some products.

He added: "It is better to impose taxes and customs fees on imported materials that are similar to the local factory, but imposing a tax on raw materials involved in the industry is considered sabotage and not an economic reform."

https://ninanews-com.translate.goog/Website/News/Details?key=1034060&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

MP reveals a close date for the arrival of the budget to Parliament and the deadline for its passage

Economy | Yesterday, 20:37 MP reveals a close date for the arrival of the budget to Parliament and the deadline for its passage Mail

Baghdad Today – Baghdad Today, Friday, the leader of the coordination framework, MP Ali Al-Bandawi, revealed that the House of Representatives will soon receive the draft financial budget law for 2023 from the Council of Ministers.

Al-Bandawi said in a statement to (Baghdad Today), that "the Council of Ministers will vote next Tuesday on the budget and will send it the same week to Parliament," noting that "its value will be the largest in the history of Iraq and will reach 180 trillion dinars."

He added, "Next Wednesday or Thursday, the budget will reach the House of Representatives," noting that "the Council agreed that next March will be a deadline to discuss and pass the budget."

He explained, "The Council of Ministers was determined to pass it last Tuesday, but because of the change in the exchange rate of the dollar to 1300 dinars, it was returned to the Ministry of Finance for the purpose of adjusting prices."

Al-Bandawi pointed out that "the price of a barrel of oil has been agreed to be between (65-70) dollars per barrel," considering that "the budget will not have any deficit because it has not been passed since the beginning of the year, and therefore the three-month period that did not pass the budget will be the amount allocated for disbursement is the gate to fill the deficit in the budget and this is what was agreed upon with Prime Minister Mohamed Shia Sudani."

The financial and economic adviser to the Prime Minister, Mazhar Mohamed Saleh, attributed yesterday the delay in the government's submission of the draft 2023 budget law to the House of Representatives so far due to the recent dollar crisis

Saleh said in a press statement that "the government's decision to reduce the official price prompted the reformulation and restructuring of the project again according to the new official rate of the dollar."

He stressed that "the budget for the year 2023 will be completely different from previous budgets, in terms of service projects and financial allocations to complete important projects that have high completion rates, and the deficit in them will be estimated, and will be filled through surplus funds from the last fiscal year."

According to parliamentary leaks, the 2023 budget is expected to be the highest in the country's history, and included in its items the largest operational part, estimated at 80 trillion dinars, including government expenses and employee salaries, while the price of a barrel of oil in the budget was set at estimated figures not exceeding $ 70.

MP reveals a close date for the arrival of the budget to Parliament and the deadline for its passage » Baghdad Today News Agency   LINK

An Economist Told NINA: The Time Has Come To Approve The 2023 Budget...And To Price A Barrel Of Oil At 70 Dollars

Saturday 18 February 2023 12:12 | Economical Number of readings: 203

Baghdad / NINA / - The expert in economic affairs, Safwan Qusai, stressed the importance of approving the general budget for the year 2023 as soon as possible and not delaying it further, calling for setting the price of a barrel of oil in the 2023 budget at a price of 70 dollars.

Qusai said in a statement to the National Iraqi News Agency (NABNA): “It is clear that the passage of the 2023 budget has been long delayed due to the Ministry of Finance adjusting the estimates of imported items and reconsidering the issue of social welfare, As well as reconsidering determining the exchange rate," stressing that: "The time has come to send this budget as soon as possible and set the price of a barrel at 70 dollars, because covering the deficit can be done through the rise in oil prices." above 70 dollars, and currently it is at an average of 85 dollars.

He stressed the need to rationalize public spending at this stage, with the need to allocate sufficient funds to the Ministry of Commerce to import all kinds of goods that are purchased at the official price through the window, and that the sale process is a final revenue For the Ministry of Finance, and thus we ensure that prices are not linked to the parallel market price, but are controlled. Through the Ministry of Commerce and other federal ministries, which can import materials at official prices.

https://ninanews-com.translate.goog/Website/News/Details?key=1034119&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

The American Ambassador Asks Iraq To Do Three Things

2023.02.18 - 12:25  Baghdad - Nas  The US Ambassador to Iraq, Elena Romansky, confirmed that her country's government is determined to create new opportunities in the Iraqi energy sector, stressing the need for Iraq to do three things, namely investment, fighting corruption, and creating a work environment to encourage foreign capital to work in the country.

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Romansky said during her speech at the Second Oil and Gas Conference in Iraq, followed by "NAS" (February 18, 2023), that "the United States has launched a project that focuses on economic development," noting that "Washington is determined to work with the Prime Minister to create new opportunities for the two countries." and the region.”

She added, "American companies will play a role in developing the Iraqi economy and the private sector," indicating that "the file for developing the energy sector will be discussed by American companies with Prime Minister Muhammad Shia' al-Sudani during the Munich conference."

And Romansky continued, "The Iraqi government encourages the presence of American companies to work in Iraq, and new plans must be put in place to expand energy plants and develop the electricity network," stressing that "the electricity infrastructure in Iraq is a good place to start the investment process, especially since Iraq has an opportunity to invest gas for Reducing gas emissions, preserving the environment and getting rid of carcinogenic atmospheres.

She explained that "Iraq must do three things, which are investing, fighting corruption, and creating a work environment to encourage foreign capital to work in Iraq," noting that "these investments will provide job opportunities for Iraqis, especially with regard to investing in gas to develop the electric sector." The official agency.     https://www.nasnews.com/view.php?cat=102270

Iraq Currency Crisis Nearing End: Official

ERBIL — Iraqi Foreign Minister Fuad Hussein in an interview voiced optimism about the future of Iraqi economy, and stressed that Iraqi dinar will begin to regain its value in the near future.

"The value of the US dollar against Iraqi dinar will fall across the country in the near future, thanks to the recent agreement we reached with the US government on this issue," said Hussein in an interview with Kurdistan 24 on Friday.

US dollar transactions in Iraq will be carried out through a proper electronic system, which will serve the interests of Iraq and help preserve the value of dinar."

The US-Iraq Higher Coordinating Committee met last week to review Iraq's ongoing currency crisis and coordinate plans to resolve it. Washington welcomes Iraqi efforts to reform its banking and overall financial systems to prevent money laundering and other irregularities, and supports efforts to resolve the country's currency crisis, according to a joint statement issued after the meeting.

Baghdad has in recent months been stepping up efforts to resolve its currency crisis, which continues to cause market instability and a nationwide inflation. The value of dinar began to slide after the US Treasury and the Federal Reserve Bank of New York "began enforcing tighter controls on international dollar transactions by commercial Iraqi banks in November in a move to curtail money laundering and the illegal siphoning of dollars to Iran and other heavily sanctioned Middle East countries," Wall Street Journal reported in January, citing Iraqi and US officials. https://www.basnews.com/en/babat/795934

Dollar Exchange Rates In The Iraqi Market

Economie  2023-02-18 | 03:04  9,768 views  Alsumaria News – Economy Alsumaria News publishes today, Saturday, the exchange rates of the dollar in the Iraqi markets.

The selling price of the dollar was 150,000 dinars per 100 dollars, while the buying price of the dollar was 149,500 dinars per 100 dollars.

Earlier, he decided  Central Bank of Iraq  Adjusting the exchange rate of the dollar against the Iraqi dinar, as the price of purchasing a dollar from the Ministry of Finance reached 1300 dinars per dollar and sold it at (1310) dinars per dollar to banks through the electronic platform, and sold at (1320) dinars per dollar from banks and non-bank financial institutions to the beneficiary Final.   LINK

JP Morgan: Oil Would Exceed $100 A Barrel In This Case

Energy   Economy News – Baghdad “JP Morgan” analysts said in a note, on Friday, that Brent crude prices are unlikely to exceed the $100 per barrel mark this year unless major geopolitical developments occur, amid possibilities that the “OPEC +” group will increase supplies and that Russian flows will recover by Mid 2023.

According to the note, it is unlikely that the "OPEC +" group, which includes members of the Organization of the Petroleum Exporting Countries "OPEC" and producers outside it, including Russia, will defend the level of eighty dollars and therefore it will not need to reduce production quotas this year.

She indicated that the conglomerate may instead add 400,000 barrels per day to production.

And Saudi Energy Minister Prince Abdulaziz bin Salman said, yesterday, Thursday, that the current “OPEC +” agreement to reduce production target by two million barrels per day will remain in effect until the end of the year.

JPMorgan analysts said that with Russian production expected to see a full recovery by June, and high price levels preventing the United States from buying back to boost its strategic petroleum reserves, the supply-demand balance gap is likely to narrow.

Brent crude futures are trading, on Friday, near $84 a barrel, and are heading for a weekly decline, amid expectations that any tightening monetary policy in the United States may undermine demand.

JP Morgan maintained its estimate of oil demand growth from China, the largest importer, at 770,000 barrels per day.

Analysts expect China to import record quantities of crude in 2023 due to the increased demand for fuel, mainly due to the recovery of movement and travel after the abolition of Covid-19 restrictions.

https://economy-news.net/content.php?id=32516

More Than $700 Million Iraqi Central Auction Sales In A Week

2023-02-18 03:10  Shafaq News/ The Central Bank of Iraq's "total" sales of hard currency for dollars during the currency auction last week amounted to more than 700 million dollars.

Shafaq News agency reporter stated that the Central Bank sold during the past week, during the four days in which the auction was opened, starting from Sunday to Wednesday, the amount of 728 million 785 thousand and 580 dollars, at a daily rate of 182 million 196 thousand and 395 dollars, up by 115.89% from the previous week. .

Our correspondent added that the highest dollar sales during the past week were on Sunday, when sales amounted to 305 million and 406 thousand and 95 dollars, while the lowest sales were on Tuesday, when sales amounted to 94 million and 950 thousand and 560 dollars.

He pointed out that sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards amounted to 1,305 dinars per dollar, while the selling price of remittances abroad and the cash sale price amounted to 1,310 dinars per dollar.

Dollar sales transferred to bank accounts abroad, in addition to cash sales, amounted to 1460 dinars per dollar, during three days of the week, and decreased to 1310 starting on Wednesday.   LINK