Zig’s Place Chatroom News Saturday 7-3-21

Zig’s Place Chatroom News Saturday 7-3-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

Butterfly   Basra crude rose to $76 a barrel

Saturday 03 July 2021 11:11.........The price of Basra light and heavy oil rose on Saturday, in conjunction with the rise in international oil prices, and the prices of the OPEC basket before its closure.

The prices of Basra Light crude, exported to Asia, recorded $75.68 per barrel, an increase of 0.13%, and heavy crude rose to $71.19 per barrel, an increase of 1.12%.

Basra Light oil recorded the highest prices compared to other OPEC countries, where the price of Saudi light oil reached $74.83 a barrel, while the price of Iran Heavy Blend reached $69.70, the United Arab Emirates Murban Blend reached $73.78 a barrel, and Algeria’s Sahran Blend recorded $74.12 a barrel, while Bonny Light Nigerian $74.16, Angolan Girasole $74.45.

International oil prices rose, with Brent crude closing at $76.17, and West Texas crude at $75.16 a barrel.

butterfly   Head of the Parliamentary Finance Committee: The increase in oil prices did not address the budget deficit

Saturday 03 July 2021 13:34,,,,,,,,,,,Head of the Parliamentary Finance Committee, Haitham Al-Jubouri, confirmed that the increase in oil prices did not address the budget deficit.

Al-Jubouri said, in a statement to the official agency, that "so far, according to the new oil prices, the financial deficit in the budget has not been filled, despite the fact that oil reached $75, but Iraqi oil is lower than international prices, with the exception of Basra Light oil, in addition to the cost of oil production."

Al-Jubouri added, “A barrel of oil after extracting it is purified from its price of 60 dollars after hitting it with a production of 2 million and 880 thousand barrels that was struck in 365 days and hitting the exchange rate, we find that it did not fill the deficit in the budget,”

noting that “the budget is 130 trillion dinars and on prices At the present time, we still have a real deficit in investment and operational expenditures of 30 trillion," he said, explaining: "We are surprised by the talk of some about the existence of financial abundance."

And the head of the committee added, "The abundance that is achieved goes to filling the financial deficit in the budget, and therefore we still need to return the million barrels that were deducted from the quantities that Iraq is supposed to produce according to the OPEC agreement so that we can completely fill the real deficit to spend the budget, but in the situation The current deficit still exists.”

butterfly   The Egyptian Minister of Trade is heading to Baghdad on an official visit

Saturday 03 July 2021 15:41......The Egyptian Minister of Trade and Industry, Nevin Jameh, headed to the Iraqi capital, Baghdad, at the head of a delegation comprising government officials and businessmen.

According to the statement of the Egyptian Ministry of Trade and Industry, "The aim of the visit is to enhance joint economic cooperation between Iraq and Egypt, especially in the commercial and agricultural sectors, which represents a solid basis for strengthening joint strategic relations between the two countries, as well as at the regional level, and to follow up and implement what was agreed upon during the presidential summit." .

This is the first visit of an Egyptian government official after the visit of Egyptian President Abdel Fattah El-Sisi to Iraq last week

Butterfly   Washington offers a reward of up to 4 million dollars for information on a wanted person in the Arab region

Saturday 03 July 2021 10:39..............The US State Department has offered a huge financial reward, amounting to 4 million dollars, to anyone who provides information on Ibrahim Ahmed Mahmoud al-Qawsi, a prominent leader in al-Qaeda.

The US State Department said on Twitter, "Ibrahim Ahmed Mahmoud al-Qawsi is a prominent leader in al-Qaeda in the Arabian Peninsula, and a wanted terrorist."

She added that there are "rewards for justice", that "this terrorist left his country, Sudan, to receive orders from the leadership of al-Qaeda in Iran to wreak havoc in Yemen and its people."

She pointed out that al-Qawsi is also known as Sheikh Habib al-Sudani and Muhammad Salah Ahmed, and he appeared in Al-Qaeda videos, encouraging lonely attacks against the United States.

butterfly   2021-07-03 07:45  Shafaq News/ Members of the Organization for Petroleum Exporting Countries (OPEC) will celebrate the 60th anniversary of its establishment in the Iraqi capital, Baghdad, in late September.

In a press statement issued on Saturday, the spokesperson of the Iraqi Ministry of Oil, Asem Jihad, said that the members of the Organization agreed to hold the ceremonials in Baghdad on September 30.

OPEC’s second-top exporter has failed to fund the deficit in its budget despite the rise of oil prices to more than 70 dollars a barrel.

butterfly  2021-07-03 02:56  Shafaq News / The dollar exchange rates dropped today, Saturday (July 3, 2021) in the Iraqi market.

• The Kifah Stock Exchange recorded 147,150 dinars, for $ 100.

• The Al-Harthiya Stock Exchange recorded 147,150 dinars for 100 dollars.

In Baghdad  Selling prices in the banking stores in the local markets

•Sale price: 147,500 dinars for $ 100   • Purchase price: 146,500 dinars for $ 100

butterfly   2021-07-03 03:37   Shafaq News/ Electricity Transmission Company of Northern Iraq announced on Saturday that new explosions targeted five electric transmission towers and two transmission lines in Nineveh and Kirkuk Governorates.

The Company said in a statement "the terrorist groups aim to completely cut off the power system in the northern regions, in a systematic and aggressive plan to harm citizens."

It added, "Yesterday at night, the transmission lines of the Qayyarah - Mosul Dam and the East Mosul - Mosul Dam were attacked with explosive devices."

Hundreds of Iraqis protested in different Governorates over worsening power cuts as temperatures exceeded 50 degrees Celsius in some parts of Iraq.

Power went out completely across most of the country's Governorates, residents said, in some of the worst shortages this year.

Power from Iraq's main grid suffers year-round from hours-long cuts each day, but the shortages worsen during the hot summer months when temperatures regularly reach 50 degrees and households rely on air conditioning.

Iraq's electricity minister resigned this week under pressure over the power crisis.

Reduced power supplies from Iran this month and a series of attacks on power lines by militants have compounded the electricity crisis.

butterfly  A large political bloc is behind the complete shutdown of energy “due to a deal” .. and these are its details

2021-07-03   A large political bloc is behind the complete shutdown of energy due to a deal .. and these are its detailsAn official in the Iraqi Ministry of Electricity revealed the details of the resignation of Electricity Minister Majid Hantoush from his position, and what he described as the repeated “war of fires” during the past days for the country’s energy system.

Most Iraqi cities are witnessing programmed interruptions of electrical power, which reached its peak at dawn on Friday, when the national electricity network was disconnected from service in most regions and cities of the country, including the capital, Baghdad, without knowing the reasons.

The official source, who asked not to be named due to the sensitivity of the information, stated that “the reason for the Minister of Electricity to resign is his failure to secure a large political bloc’s share of a contract (deal) between an Emirati company and his ministry under the auspices of government and political parties.”

And the source indicated that “this coalition started using its own arms inside the Ministry of Electricity and launched a war of frequent outages,” noting that “the power outage is an artificial reason in order to pressure the coalition’s share of the Emirati deal.”

He predicted that “the situation will worsen in the coming period, and the electricity may be subject to a power outage for several days.”

On Tuesday, Hantoush submitted his resignation to Prime Minister Mustafa Al-Kazemi, who has not yet decided on it officially.

Iraq has been suffering from the electricity shortage crisis for decades as a result of successive wars and the instability of the security situation in the country, as well as the spread of corruption   burathanews.com  

butterfly   Expert: Iraq’s oil revenues will reach 70 billion dollars by the end of the year

2021.07.03 – 13:26   Expert - Iraqs oil revenues will reach 70 billion dollars by the end of the yearBaghdad – people

The economist, Manar Al-Obaidi, expected, on Saturday, that Iraq’s oil revenues would reach 70 billion dollars this year.

Al-Obaidi stated in a clarification followed by “Nass” (July 3, 2021), that “the amount of surplus achieved by oil revenues during the first six months of the year amounted to 9.8 trillion dinars, and the size of the surplus is expected to reach more than 26 trillion dinars.”

He added, “The total oil revenues for the first six months of the year amounted to 33.11 billion dollars, knowing that the oil revenues planned in the budget were 26.325 billion dollars.”

He stated, “Despite the significant increase in oil prices, the monthly sales rate did not exceed the 2.9 million barrels per day barrier, although the value of sales planned in the 2021 budget was 3.25 million barrels.”

“It is expected that the total oil revenues until the end of the year will reach 70 billion dollars, which is equivalent to 102 trillion Iraqi dinars,” al-Obaidi said.

He continued, “Despite the rise in non-oil revenues, the specter of the deficit still exists, as the budget planned non-oil revenues of 20 trillion dinars, of which no more than 2 trillion dinars were achieved as a result of the weakness of the procedures followed to maximize non-oil revenues.”

And the economic expert indicated, “In the event that non-oil revenues of more than 10 trillion dinars are not achieved, it is expected that the total revenues by the end of the year will reach 112 trillion dinars. Dinar”. nasnews.com

butterfly   https://www.usatoday.com/story/news/nation/2021/07/03/elsa-downgraded-tropical-storm-florida-path-early-next-week/7851481002/?utm_source=feedblitz&utm_medium=FeedBlitzRss&utm_campaign=usatodaycomnation-topstories ........ Elsa downgraded to tropical storm; Florida in path early next week

butterfly   After the recent cyber attacks, Biden threatens to respond

Saturday 03 July 2021 23:14...........US President Joe Biden threatened on Saturday to respond to the recent cyber attacks.

Biden said in a press statement, reported by US media, that we will respond if Russia is proven to be involved in the recent cyber-attacks called the ransom virus.

He added, "I am not sure that Russia is behind the recent cyber attacks."

butterfly   https://www.thenationalnews.com/mena/iraq/2021/07/01/nato-to-expand-presence-in-iraq-secretary-general-indicates/

Nato to expand presence in Iraq, Secretary General indicates

Stoltenberg tweets alliance will be "stepping up support" in Iraq

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Zig’s Place Chatroom News Friday PM 7-2-21

Zig’s Place Chatroom News Friday PM 7-2-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

NORV (Kaperoni)   Some fun articles from April... Increasing economic difficulties as a result of Corona and the emergence of new strains opens the door to the option of floating the Iraqi dinar.

The recent devaluation of the Iraqi currency has fueled fears that the step will be a prelude to a full floatation of the dinar, but experts believe that the financial reality prevents the liberalization of the exchange rate due to the nature of the rentier economy and the lack of diversity of funding sources, as well as the presence of one player in the equation of supply and demand control, which is the central bank   

BAGHDAD - The decision to devalue the Iraqi dinar by the end of 2020 has raised some concerns that this decline in value is a prelude to a complete float of the local currency.

Last December, the Central Bank of Iraq reduced the exchange rate of the local currency (the dinar) against the dollar by 24 percent, with the aim of better managing payments and the economic crisis in the country.

The dollar exchange rate reached 1470 dinars for the public, and about 1460 dinars for banks operating in the country, compared to 1182 dinars before the reduction.  READ MORE LINK

NORV   4 Reasons Preventing Iraq From Floating The Entire Currency.. Get to know them

The decision to devalue the Iraqi dinar against the dollar raised fears that this paves the way for the entire local currency to float

The decision of the Central Bank of Iraq to reduce the value of the Iraqi dinar against the dollar by 24% by the end of 2020 in order to better manage payments and the economic crisis that the country is experiencing, has raised fears that this paves the way for the entire local currency to float.

The dollar exchange rate reached 1470 dinars to the public, and 1460 dinars to banks operating in the country, compared to 1182 dinars before the reduction   READ MORE LINK

NORV  Al-Obaidi points out that the policy of full flotation requires diversification of the economy to create a state of balance in supply and demand, but this is difficult in Iraq because there is only one player in this equation, which is the Central Bank of Iraq.

NORV   In turn, industrial development and investment consultant Amer Al-Jawahiri ruled out a full float until 2022, because of its political and social repercussions that the Iraqi economic and political reality is difficult to bear now.

NORV   :Float:   :Float:  :Float:

butterfly   Iraq Replaces Head of State Media,,,,,,,,,3rd July 2021 in Iraqi Communications News, Politics,,,,,,,,,,,Iraq replaces state media head

An Iraqi court has reinstated the former president of the Iraqi Media Network (IMN), annulling the appointment of Nabil Jasem.

Click here to read the full story. https://www.al-monitor.com/originals/2021/06/iraq-replaces-state-media-head

butterfly   "Sabotage" to Blame for Major Power Cut in Iraq.........3rd July 2021 in Iraq Industry & Trade News, Politics...........Local news sources in Iraq claim the major power cut in Iraq on Friday was caused by sabotage of the power transmission lines.

Meanwhile, Prime Minister Mustafa Al-Kadhim ordered the dismissal of the Director General of the General Company for Electricity Transmission in the Middle Euphrates region for "neglecting to perform his duties", which he said was responsible for the failure of the 400kV line.

The move follows the resignation earlier the week of Iraq's Minister of Electricity, Majed Mahdi Hantoosh [Hantoush], following protests over repeated power cuts.  Iraq is currently suffering a heatwave, with temperatures reaching as high as 52C in places.    (Sources: Govt of Iraq, Shafaq, BBC)

butterfly   Textron awarded $7.6m Iraq Contract...........3rd July 2021 in Security...............US-based Textron Aviation Defense has been awarded a $7,605,208 firm-fixed price contract with cost-plus-fixed-fee and cost-reimbursable contract line item numbers for support and sustainment of the Iraq Peace Dragon Program.

This contract provides support of the field service representatives, program management, core/field engineering and repair-and-return.

Work will be performed in Wichita, Kansas, and Martyr Mohammed Ali Air Base, Iraq, and is expected to be completed Sept. 30, 2021.

This contract involves Foreign Military Sales (FMS) to Iraq and is the result of a sole-source acquisition.

FMS funds are being obligated for this award. Air Force Life Cycle Management Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity (FA8620-17-C-3011).  (Source: US Dept of Defense)

butterfly   2021-07-02 01:09 Shafaq News / The U.S. dollar was perched at a 15-month high on the yen and at multi-month peaks against other majors on Friday, as traders wagered strong U.S. labour data could lift it even further.

The jobs report is due at 1230 GMT and is forecast to show a solid rise of 700,000. But there is chatter about the number being even higher and of that upsetting an assumption that U.S. interest rates can stay at rock-bottom levels for years.

"The dollar has started July strongly; a U.S. non-farm payrolls meet or beat today would maintain that momentum," DBS Bank strategist Philip Wee said in a note to clients.

The dollar has climbed 0.7% against the yen this week and hit its highest since March 2020 in the Asia session, as investors have re-assessed short positions following months of strong data and a shift in tone from the Federal Reserve.

The greenback edged up to 111.65 yen early in the Asia session, and at $1.1841 per euro was only a whisker short of Thursday's three-month high.

It crept to a fresh two-and-a-half month peak of $1.3752 per British pound and sat near its highest since December against the Australian dollar at $0.7461.

That puts the dollar index at 92.564 and some 3.4% above a four-month low it hit in May. The Aussie, the kiwi, the euro and the yen are also all below their 200-day moving averages against the dollar - with the yen miles below it after having lost nearly 7.5% this year.

"Many people are now arguing (over) whether the dollar has indeed bottomed, because at some point in 2023 the Fed is suggesting that it could be raising interest rates," said Paul Mackel, global head of FX research at HSBC in an outlook call.

butterfly  "Also there's some nervousness whether the dollar's going to start to behave in a more pro-cyclical manner, that is, if the data is stronger than expected in the U.S. that the dollar really gets more strength from that."

The path to the payrolls data has been paved with positive surprises with U.S. private payrolls beating expectations and jobless claims dropping harder than forecast.

But such preliminaries have proven unreliable guides in the past for a data set that is hard to predict. Reuters' poll of 63 economists produced an average forecast for 700,000 jobs but a range of estimates between 376,000 and over a million.

ING and Royal Bank of Canada Capital markets are among several houses with below-consensus forecasts.

"There has been a tendency in 2021 by the dollar to show an asymmetrical reaction to payrolls, so that a miss generated more dollar downside compared to the upside generated by a stronger-than-expected release," said Francesco Pesole at ING.

"Should our economist's projections for a positive but below-consensus read prove accurate, we expect the price action in FX to prove broadly negative for the dollar as some of the Fed's hawkish expectations are scaled back."

The Canadian dollar, for example, is down on the week but is the best performing G10 currency this year with a 2.5% rise against the dollar in 2021.  Analysts said that probably also contributes to the walloping the yen has received as Japan pays for imports.   Source: Reuters

butterfly  2021-07-02 00:50  Shafaq News / Oil prices rose roughly 2% on Thursday on indications that OPEC+ producers could increase output more slowly than expected in coming months, while rising global fuel demand causes supply to tighten.

Brent crude settled at $75.84 a barrel, up $1.22, or 1.6%. U.S. West Texas Intermediate crude settled at $75.23 a barrel, gaining $1.76, or 2.4%.

During the session, both benchmarks climbed by more than $2 a barrel, reaching their highest since October 2018.

Futures pared gains after the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, delayed its ministerial meeting until Friday to hold more talks on oil output policy, sources said, after the United Arab Emirates blocked a plan for an immediate reduction in supply cuts.

"Such a delay in talks is unusual and would appear to indicate some significant discord within the organization between participants," said Jim Ritterbusch of Ritterbusch and Associates.

OPEC+ sources said earlier that the group was expected to increase output by 0.4 million barrels per day a month from August to December 2021.

"I firmly believe that in the near-term, OPEC+, led by Saudi Arabia, is looking to squeeze consuming countries and engender a higher price to make up for the damage done last year," said John Kilduff, partner at Again Capital in New York.

Some market participants remained skeptical of the demand projection.

"Everybody is drinking the OPEC Kool-Aid here and buying the story that demand is going to increase by 5 million barrels in the second half of the year," said Bob Yawger, director of energy futures, at Mizuho Securities.

Yawger said OPEC's demand forecast does not account for the possibility of increased supply from Iran, spread of the COVID-19 Delta variant and lackluster seasonal U.S. gasoline use.

There have been several outbreaks of the Delta variant of the coronavirus, raising concerns that the recovery will falter.   Source: Reuters

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Zig’s Place Chatroom News Friday AM 7-2-21

Zig’s Place Chatroom News Friday AM 7-2-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

butterfly   For the first time since the invasion of Kuwait, the electrical power system collapsed throughout Iraq

2021-07-02   For the first time since the invasion of Kuwait the electrical power system collapsed throughout IraqWasted energy 98% or 15,000 megawatts.    The remaining power is only 3000 megawatts in Baghdad and other governorates, according to informed sources.  The reasons are not yet known..The most affected is the oppressed Iraqi citizen who is facing scorching temperatures in the fifties.

The disaster understands, and the Ministry of Oil refuses to provide the Ministry of Electricity with fuel.  The Islamic Republic of Iran, the first exporter of electricity to Iraq, has stopped exporting it due to the bombing of power transmission lines by the US-backed ISIS

With all this collapse and this suffering, the US administration insists on preventing the German international company Siemens from working in Iraq to repair electricity within a short period.. Al-Kazemi’s government is forced to contract with the failed and corrupt American General Electric Company that has been working in Iraq since 2003 and has proven its failure..

Who benefits from America and its failed company?

Who is affected by the oppressed Iraqi people?

And now.. and after all the evidence that indicates direct American involvement in the electricity file to be used as a pressure card, what is the opinion of the embassies’ servants, the Tishreen bloggers, and everyone who contributed and participated in the overthrow of the government of Adel Abdul-Mahdi, who went to Germany and contracted with Siemens    burathanews.com

butterfly   The stability of the dollar exchange rate in the local markets

Friday 02 July 2021 12:24......he dollar exchange rate witnessed, today, Friday, stability in the local markets in the capital, Baghdad.

Today, the selling price of the dollar in banking offices and local markets in Baghdad was 147,500 dinars, compared to 100 dollars, while the purchase price reached 146.500 dinars, compared to 100 dollars.

butterfly  Prime Minister Mustafa Al-Kazemi meets with His Holiness Pope Francis/Expanded

Friday 02 July 2021 16:57......Prime Minister Mustafa Al-Kazemi met today, Friday, in the Vatican, with His Holiness Pope Francis, Pope of the Vatican.

Through Kazmi , according to a statement to his office he expressed his thanks to His Holiness the Pope on the good welcome reception, and praised the historic pope 's visit to Iraq, and involving him of letters of support for Iraq and confirmed the unity of humanity in the aspiration to peace, coexistence and stand against extremism in all its forms. "

The prime minister stressed the Iraqi government 's commitment to work In order to establish Iraqi Christians and other minorities in their lands as an essential part of the fabric of their societies, and to facilitate the return of the displaced and immigrants from them to their areas of origin, as well as work to urge the Iraqi church authorities to activate their humanitarian activities, especially educational and health, and to provide them with all the required assistance.

butterfly   And Al-Kazemi indicated that, the government is going to rebuild the ancient churches that were destroyed by ISIS terrorist gangs, in addition to the government's serious efforts to rebuild the city of Ur due to its historical importance, and to be prepared to receive Christian delegations to the city, and between the importance of taking measures and providing the necessary facilities to group tourist and religious groups into the city. Ur archaeological site. Prime Minister Mustafa Al-Kazemi also met with the Prime Minister of the Vatican State, Cardinal Pietro Parolin.

For his part, His Holiness Pope Francis I welcomed Al-Kazemi and his accompanying delegation, stressing the importance of strengthening peace efforts in the region, and in a way that achieves the prosperity and stability of peoples. During the meeting, they discussed bilateral relations, strengthening cooperation and joint coordination to facilitate the promotion of tourist and religious groups to the historical city of Ur. Al-Kazemi called for the Supreme Permanent Dialogue Committee between Iraq and the Vatican to hold its third meeting in Baghdad this year.

butterfly   The preacher of the Sadrist movement from Kufa: Electricity in Iraq has become an unresolved knot in light of political outbidding

Friday 02 July 2021 16:05........The Kufa Friday preacher of the Sadrist movement, Muhannad Al-Moussawi, affirmed that the solution to the electricity problem has become an unresolved complex in light of the political bidding in the country.

He said that the problem of electricity in the summer has become a complex that can not be patient.

Al-Moussawi added that the problem of electricity is not born today, but since the nineties of the last century, when the Baathist authority prevented people from expressing discontent.

He called on the government to assume its responsibility to provide services to the Iraqi people and to contract as soon as possible with sober international companies and provide them with protection in order to restore the reality of real electricity in Iraq.

butterfly  Iraq and Bahrain discuss strengthening bilateral relations

Friday 02 July 2021 14:59..........The Chargé d'Affairs at the Embassy of the Republic of Iraq in Manama, Muhammad Adnan Mahmoud, made a video call with Abdullah bin Faisal bin Jabr Al-Dosari, Assistant Minister of Foreign Affairs in the Kingdom of Bahrain.

A statement by the Ministry of Foreign Affairs stated that during the call, they discussed strengthening bilateral relations between the two brotherly countries, and many topics and issues of common interest. The Chargé d'Affairs expressed his pride and appreciation for the development witnessed by the brotherly relations in various fields, wishing the Kingdom of Bahrain continued prosperity and prosperity.

For his part, the Bahraini Assistant Foreign Minister expressed his pride in the brotherly relations linking the Kingdom of Bahrain with the sisterly Republic of Iraq, pointing to the Kingdom of Bahrain’s aspiration to strengthen these relations and advance them to broader horizons at all levels for the benefit of the two brotherly countries and peoples and fulfill their common aspirations, wishing Iraq continued prosperity and progress.

butterfly   Al-Kazemi meets Italian Prime Minister Mario Draghi in Rome

Friday 02 July 2021 14:58 ......Prime Minister Mustafa Al-Kazemi met today, Friday, with Italian Prime Minister Mario Draghi in the Italian capital, Rome.

Al-Kazemi expressed his appreciation for the Italian role within the international coalition to fight ISIS terrorist gangs and the support provided to the Iraqi forces in this aspect, and indicated that Iraq is looking forward to a greater role for Italy during the next stage.

He explained that Iraq is willing to expand military cooperation with Italy, including the aspect of training and work development in the field of combating organized crime and prosecuting money smuggling and other prohibited activities, and to benefit from its experience in this field.

butterfly   The Prime Minister said that Iraq welcomes a greater role for Italian companies and investments in Iraq, especially in the field of infrastructure, and the acceleration of the ongoing consultations for the railway project (Basra-Turkey) linking to the port of Faw.

He also welcomed the development of cooperation with the Italian side in the field of dam maintenance, oil and energy, academia, tourism and antiquities, as well as Iraq's desire to activate direct air transport between Baghdad and Rome.

Al-Kazemi extended an invitation to the Italian Prime Minister to visit Baghdad, and Mario Draghi welcomed the invitation and promised to meet it as soon as possible.

Draghi expressed his happiness with Prime Minister Mustafa Al-Kazemi's visit to Rome and their support for Iraq with all it needs in terms of investment, reconstruction, training and other sectors.

He praised the role of the current Iraqi government headed by Al-Kazemi in restoring Iraq's international relations and its great efforts to calm the region.

butterfly   Deputy: Political parties target electricity towers to postpone the elections

2021-07-02 06:25  Deputy - Political parties target electricity towers to postpone the electionsShafaq News/ On Friday, a member of the Parliamentary Oil and Energy Committee accused some political parties of targeting electric power transmission towers by trying to inflame the street and postpone the parliamentary elections.

Committee member Sadiq Al-Sulaiti told Shafak News Agency; “There are political parties, some of which are behind the targeting of electric power transmission towers, and an attempt by them to inflame the street and provoke demonstrations to postpone the parliament elections from their scheduled date.”

He added that “some political parties are trying to exploit the crises the country is going through at the political, service and media levels to serve their personal interests.”

An official in the Iraqi Ministry of Electricity revealed, earlier today, Friday, the details of the resignation of Electricity Minister Majid Hantoush from his position, and what he described as the repeated “war of extinguishes” during the past days for the country’s energy system.

butterfly   The official source, who asked not to be named due to the sensitivity of the information, stated, during his interview with Shafaq News Agency, that “the reason for the Minister of Electricity to resign is his failure to secure a large political bloc’s share of a contract (deal) between an Emirati company and his ministry under the auspices of governmental and political parties.”

And the source indicated that “this coalition started using its own arms within the Ministry of Electricity and launched a war of frequent outages,” noting that “the power outage is an artificial reason in order to pressure the coalition’s share of the Emirati deal.”

On Tuesday, Hantoush submitted his resignation to Prime Minister Mustafa Al-Kazemi, who has not yet decided on it officially.

The resignation came two days after the leader of the Sadrist movement, Muqtada al-Sadr, called in a tweet on Twitter to dismiss the Minister of Electricity from his post. Sadr’s supporters then launched a campaign on social media to remove Hantoush from his post.

Most Iraqi cities are witnessing programmed interruptions of electric power, which reached its peak at dawn on Friday, when the national electricity network was disconnected from service in most regions and cities of the country, including the capital, Baghdad, without knowing the reasons.  shafaq.com

Dave  Baghdad, Iraq Weather  Updated on Fri., Jul. 2, 8:35 a.m.

✓ SAVED TO MY LOCATIONS   45 °C   FEELS LIKE 53

butterfly   Al-Kazemi takes 6 decisions to address the electricity crisis, and his ministry announces the return of the system to work

2021-07-02 02:29   Al-Kazemi takes 6 decisions to address the electricity crisis and his ministry announces the return of the system to workShafaq News/ The media office of the Prime Minister, Mustafa Al-Kazemi announced on Friday that the latter took a set of decisions to remedy the electricity crisis after the complete interruption of the national network in all governorates of Iraq, except for the Kurdistan Region.

The office said in a statement received by Shafaq News Agency, that Al-Kazemi, as a result of what the electric power system was exposed to during the past hours and to ensure a quick treatment, and after following him up personally with the executive officials of the Ministry of Electricity and other ministries, decided the following:

First/ A crisis cell is formed to address the shortage of electricity supply hours in Baghdad and the governorates, headed by the Prime Minister, with the membership of the Ministries of Electricity, Oil, Finance and Interior, the Secretary-General of the Council of Ministers, the Director of the Prime Minister’s Office, the Head of the National Security Apparatus, and the Secretary of the Supreme Coordination Committee between the Provinces.

Second/ The cell undertakes the following tasks:

1. Take the necessary immediate measures to increase the hours of providing electrical energy in Baghdad and the governorates to meet the needs of the Iraqi society and economy.

2. Emergency provision of all forms of financial, technical, logistical and security support to the Ministry of Electricity.

3. Involvement of local governments in the areas of production and distribution.

4. Removal of abuses on the electric power system and confiscation of used tools and equipment.

butterfly   Paying the violators the fees of cutting the power supply and the costs resulting therefrom, and initiating criminal complaints against them.

6. Accelerate practical procedures to support and encourage the use of renewable energies in various fields and localize its industry, as well as regulating the entry of the private sector to invest in the energy field in a way that raises the level of energy supply while ensuring efficiency and economic feasibility.

Third/ The cell is in permanent session during the months of July and August, and in continuous meetings except for the mentioned two months, and it takes its decisions by majority.

In a second statement issued by his office, Al-Kazemi directed the Ministry of Oil to increase the fuel quota for private generators.

For its part, the Ministry of Electricity announced in a statement that its staff were able to restore the national electricity system in record time to service after it was subjected to a complete halt at dawn today, Friday.

The ministry said that all the owners have been working since the accident that the system stopped working to restart the obstetric units in all electrical power production stations to return to the production reached by the system yesterday evening, Thursday, which amounted to (18,500) megawatts, despite the terrorist and sabotage targets that were exposed and exposed to the transmission lines of electric power. .

The ministry appealed to the security authorities, tribal sheikhs and citizens to cooperate with them to intervene and report any suspicious movements that occur near electric power transmission lines and towers.

butterfly  The ministry indicated that there have been programmed and continuous targeting of electric power transmission lines over the past days, with high temperatures, which led to the instability of the power system, which resulted in the separation of the two high-pressure electric power transmission lines (thermal fluid – gaseous media) (1 and 2), Fajr This Friday, which stopped the energy system because of it.

The statement added that while the Ministry of Electricity is mobilizing its staff to restart the obstetric units, the high-pressure electric power transmission line (132 kV), (Jerusalem – Karkh water) at ten o’clock this morning, Friday, was detonated by explosive devices placed under a number From its towers, with the aim of dismissing him and taking him out of work to increase the suffering of the citizens. Immediately, the engineering and technical staff went to the site of the accident, accompanied by the security forces, and began maintenance work.   shafaq.com

butterfly  Dollar exchange rates in the Iraqi markets

2021-07-02 | 04:50   Dollar exchange rates in the Iraqi marketsAlsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in the Iraqi local markets on Friday.

And the selling prices of the dollar were 147,000 dinars per 100 dollars, while the purchase prices of the dollar were 146.500 dinars per 100 dollars.

It is noteworthy that the selling prices of the dollar in the local markets yesterday, Wednesday, recorded 147.250 dinars per 100 dollars, while the purchase prices were 146.500 dinars per 100 dollars. alsumaria.tv

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Zig’s Place Chatroom News Thursday PM 7-1-21

Zig’s Place Chatroom News Thursday PM 7-1-21

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Butterfly    The first of its kind in Iraq..Oil Signing the "Green Loan" with the International Finance Corporation

Thursday 01 July 2021 21:34......The Ministry of Oil announced today, Thursday, the signing of the "green loan" with the International Finance Corporation, which is the first of its kind in Iraq.

The ministry said in a statement, "It is a great achievement achieved by our distinguished partnership in Basra Gas Company by signing the first vital agreement with the International Finance Corporation to obtain a loan that does not require any guarantees from shareholders, the first "green loan" in Iraq's history."

She added that "obtaining this support is at the heart of Iraqi efforts to reduce gas flaring and will contribute to the growth projects of the Basra Gas Company, enhance the country's transition opportunities towards clean energy and a green economy, and open the country to long-term international support from major international banks."

butterfly   Al-Rasheed Bank launches a new batch of the predecessors of the ministries of defense and interior, employees and retirees

Thursday 01 July 2021 20:45......Al-Rasheed Bank announced the launch of a new batch of the predecessors of the employees of the Ministries of Defense and Interior, employees, as well as retirees.

The bank’s media office called “all beneficiaries who receive text messages to review the bank’s branches or electronic payment offices to receive the amount,”

adding that “work is continuing to raise the amounts in the balances of those registered for advances through the bank’s application.”

butterfly  After OPEC's decision to hold its next meeting in Baghdad..Oil, the OPEC Plus meeting has been postponed to tomorrow, Friday

Thursday 01 July 2021 22:27.....The Minister of Oil announced the postponement of the "OPEC Plus" meeting today on the agreement to reduce production, until tomorrow, Friday.

Oil Minister Ihsan Abdul-Jabbar Ismail said in a statement, "The member states decided to postpone the meeting, which started today and took several hours to tomorrow, to hold further discussions and consultations to reach an agreement that achieves common goals in stability and balance for global oil markets."

Ismail referred to the efforts being exerted to bring the views closer in order to reach an agreement that serves the producers and achieves stability.

He added that the meeting discussed the challenges facing the oil market and a review of the reports prepared by the relevant committees in OPEC, confirming OPEC's decision to hold its next meeting in Baghdad and to celebrate the 60th anniversary in Baghdad.

butterfly  Egypt calls on the Security Council to consider the Renaissance Dam crisis before an escalation threatens international peace

Thursday 01 July 2021 22:43.......Egypt called on the Security Council to urgently consider the crisis of the Grand Ethiopian Renaissance Dam, because this crisis could pose a threat to international peace.

According to the "Akhbar Al-Youm" portal, Egyptian Foreign Minister Sameh Shoukry said in a letter to the council, "The situation constitutes an imminent threat to international peace and security, and requires the council to immediately consider it."

According to the letter, the Egyptian minister requested the necessity of holding an urgent session under the item of security and peace in Africa.

He stressed Shukri in his letter that "after 10 years of negotiations, the issue has evolved into the current state of cause international friction, presents the continuation of international peace and security, risk, and therefore Egypt has chosen to this matter is presented to the UN Security Council.

Thanks and stressed the importance to consider the Appropriate measures to ensure that the crisis is resolved in an equitable manner and in a manner that protects and maintains security and stability in an already fragile region.

butterfly  It is noteworthy that Egyptian President Abdel-Fattah El-Sisi warned Ethiopia, last April, of “compromising Egypt’s water rights,” stressing that “all options are open.”

Ethiopia began building the "Renaissance Dam" on the Blue Nile in 2011 with the aim of generating electricity. Egypt fears the impact of the dam on its share of 55.5 billion cubic meters of Nile water; Sudan fears the impact of the dam on the Sudanese dams on the Blue Nile.

All rounds of negotiations, which began about 10 years ago, failed to reach a binding agreement regarding the filling and operation of the dam.

Ethiopia has confirmed on more than one occasion its intention to complete the second filling of the Renaissance Dam in the rainy season, at the beginning of next July, regardless of the conclusion of an agreement with the two downstream countries. Egypt and Sudan consider Ethiopia's second filling of the Renaissance Dam without reaching an agreement a threat to the national security of the two countries.

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Zig’s Place Chatroom News Thursday AM 7-1-21

Zig’s Place Chatroom News Thursday AM 7-1-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

Butterfly   A scientific study at the University of Karbala discusses the impact of the dollar exchange rate on achieving banking stability

Thursday 01 July 2021 13:45.......The College of Administration and Economics at the University of Karbala discussed the scientific study entitled "The role of the exchange rate in achieving banking stability (Iraq Case Study 2010-2019)".  The study presented by the student Saif Muhammad Reda Al-Asadi aims to examine the role of the exchange rate in achieving banking stability in Iraq and its impact on the national economy.

The study dealt with the importance of the exchange rate as one of the means through which monetary policy objectives can be achieved, represented in reaching monetary stability in any national economy.

It showed that the central bank, through the exchange rate channel, can maintain the general level of prices and the level of income within the economy, and controls the level of exports and imports by controlling the exchange rate and the amount of currency sold at auction  2019 )

Toouselt study to a number of conclusions , notably that there is a positive correlation between the window exchange rate and some banking stability indicators, there is no correlation with the rest of the indicators,

and recommended the need to study the role of monetary policy of the Central Bank of Iraq can influence through it on the increase in the banking sector Banking stability and it has to increase monetary stability, maintain the official exchange rate, as well as the need to monitor the flow of foreign currency to eliminate money laundering and currency smuggling.

butterfly  Exporting more than (86) million barrels, during the past month, with revenues amounting to more than (6) billion dollars

Thursday 01 July 2021 14:07.....The Ministry of Oil announced today the export of more than (86) million barrels, during the past month, with revenues of more than (6) billion dollars.

A statement by the ministry stated that, "according to the preliminary statistics issued by the Iraqi Oil Marketing Company SOMO, the amount of Crude oil exports during the last month amounted to (86) million (765) thousand (589) barrels, with revenues amounting to (6) billion (141) million and (77) thousand dollars.

” The statement added, that “the total quantities of oil exported Crude for the month of June from oil fields in central and southern Iraq amounted to (83) million (690) thousand and (352) barrels. As for the fields of Kirkuk through the port of Ceyhan, the exported quantities amounted to (3) million and (75) thousand and (237) ) barrels. "

He noted that" the daily average volume reached two million and 892 thousand barrels per day, while the price per barrel average (70.778) was $ ".

butterfly   Iraq wins membership of the Executive Office of the Arab Aviation Organization

Thursday 01 July 2021 14:56...........The Ministry of Foreign Affairs announced that Iraq has won the membership of the Executive Office of the Arab Aviation Organization.

And the spokesman for the Ministry of Foreign Affairs, Ahmed Al-Sahaf, said in a statement that the National Iraqi News Agency / NINA / received a copy of it: "Iraq has won the membership of the Executive Office of the Arab Aviation Organization."

He added, "This came under the guidance of the Minister of Foreign Affairs and the follow-up of the competent departments in the center of the ministry and the Civil Aviation Authority, in coordination with the embassies of the Republic of Iraq in the world."

butterfly   Now that is news.....good news!

butterfly  2021-07-01 04:37 Shafaq News/ The Central Bank of Iraq (CBI) sales in the currency auction registered about $195 million today.

Shafaq News Agency correspondent reported that CBI sales settled at $195,064,000. The weighted average rate of the dinar to the U.S. dollar was specified at 1460.

Our correspondent explained that 7 banks and 6 companies cashed out 19,720,000$, while the $155,344,000 went to boost funds abroad in the form of non-cash and credit transactions, with 32 banks meeting those requests.

butterfly  2021-07-01 02:21 Shafaq News/ Oil prices edged higher on Thursday, supported by lower U.S. inventories, as investors waited for a decision from key producers on whether they would maintain or ease supply cuts in the second half of the year.

Brent crude for September gained 17 cents, 0.2%, to $74.79 a barrel by 0508 GMT while the U.S. West Texas Intermediate crude for August was at $73.68 a barrel, up 21 cents, or 0.3%, close to its highest since 2018 of $74.45.

WTI rose more than 10% in June while Brent added over 8%, touching highs since 2018, as summer travel picked up and more people got vaccinated.

Analysts had forecast a wider supply deficit globally in the second half as the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, maintained production cuts while demand rises.

OPEC+ is easing supply cuts between May and July by 2.1 million barrels per day and will meet on Thursday to decide whether to leave production unchanged or boost output, possibly by more than 1 million bpd or by a more modest 0.5 million bpd in August. The group is expected to also discuss whether to extend the supply reduction deal to beyond April 2022.

"Sideline discussions indicate that Russia is proposing to boost supply while Saudi Arabia wants a more cautious approach," ANZ analysts said in a note.

Analysts at Citi bank said global oil market fundamentals should be robust enough to justify an easing of production cuts, adding that they were factoring a 1 million barrels per day (bpd) surge in OPEC supplies in August.

Even after accounting for higher OPEC+ production, Citi expects the market to remain in a deep deficit of more than 3 million bpd through the third quarter with a high probability of Brent hitting around $85.

However, outbreaks of the Delta virus variant are raising concerns demand recovery may falter. Renewed lockdowns and rising costs have already weakened momentum in Asia's factory activities in June.

butterfly   In the United States, crude stockpiles fell last week for the sixth straight week in response to rising demand, data from the Energy Information Administration showed.

A drop in crude inventories at Cushing, Oklahoma, the delivery point for WTI, to the lowest since March 2020 also underpinned the U.S. benchmark, squeezing its discount to Brent to the narrowest since June 2020 on Wednesday.

Brent was seen averaging $67.48 a barrel this year and WTI $64.54, both up from forecasts in May, a June Reuters poll showed.

butterfly   2021-07-01 05:29  Shafaq News/ The Iraqi Ministry of Electricity held on Thursday an "expanded urgent meeting" in the wake of the Electricity crisis striking the country this summer in the Ministry's headquarters in Baghdad.

According to readout by the Ministry, the meeting was headed by the undersecretary for Production Affairs, Adel Karim, and attended by the undersecretary for Transmission and Production, Nezar Qahtan al-Tamimi, among other senior officials in the Ministry.

The attendees exchanged views on the situation of the national grid and the challenges it is facing, according to the Ministry, "the meeting suggested devising an action agenda to review the plans, address production issues, as well as transmission and distribution later."

"The action agenda also included addressing blackouts and holding the responsible accountable, reviewing the liquid fuel plan, which is generally superior to the natural gas, and the problems in our gas power plants."

The Ministry's undersecretary instructed bypassing bureaucracy, establishing channels directly with the citizens, and abiding with the instructions to avoid accountability.

The meeting laid emphasis on the vitality of the "societal security" in deterring the offensives against the country's infrastructure, by cooperating with the dignitaries, tribal Sheikhs, and clerics.

butterfly   2021-07-01 07:27   Shafaq News/ Kurdistan’s Minister of Electricity pledged to boost the power supply hours as soon as the five new production units enter into service.

On the sidelines of his visit to the Hydropower plant established in Diraluk, Duhok Governorate, Minister Kamal Muhammad Salih said, “until June 15, the power supply hours in the entire Region amounted to at least 18 hours a day. However, between 15 and 21 of the same month, a technical failure downplayed it to 15 hours.”

“Kar company wrapped it up and mended the power supply. The latter will be increased after adding five production plants,” he said.

butterfly   Iran Stops Energy Exports to Iraq......1st July 2021 in Iraq Industry & Trade News, Politics....Iran has reportedly suspended the supply of gas and electricity to Iraq, at a time when the country is struggling to cope with with soaring temperatures.

According to AP, Iraq already owes Iran $4 billion for energy imports, and Iran is pushing to have the debt paid.

More here. https://consent.yahoo.com/v2/collectConsent?sessionId=1_cc-session_3a9e878f-5b16-4237-a0aa-c584cca2a653      (Source: AP)

butterfly  Northrop Grumman Wins $19m Iraq Contract,,,,,,,,,,,1st July 2021 in Security,,,,,,,,,,,Northrop Grumman Systems Corp., Fort Worth, Texas, has been awarded a $19,296,927 firm-fixed-price, cost-plus-fixed-fee, cost reimbursement contract for contractor logistics support of Iraq's C-172 & C-208 (Cessna) fleets.

The award provides for the exercise of options to extend the term of the contract for the continued services that may be needed in order to effectively maintain and operate a fleet.

The location of performance is Balad Air Base, Iraq, and work is expected to be complete by June 30, 2022. This award involves Foreign Military Sales (FMS) to Iraq.

This award is the result of a sole-source acquisition. FMS funds provided by Iraq in the amount of $19,296,927 will be obligated at the time of award.

Air Force Life Cycle Management Center, Legacy Training Aircraft Division, International Support Branch, Wright Patterson Air Force Base, Ohio is the contracting activity (FA8617-21-C-6237).   (Source: US Dept of Defense)

butterfly  Kurdistan 2020 Oil Business "Crashed due to COVID-19".........1st July 2021 in Iraq Oil & Gas News..........The Kurdistan Regional Government (KRG) has released its annual oil and gas audit report for 2020, which revealed several drops in production due to the COVID-19 pandemic.

The region's total exported and consumed oil for the year stood at 165,942,861 barrels, about 5 million barrels less comparing to 2019.

The average price of oil dropped to $28.1 per barrel as global markets crashed during the second quarter, with the gross value of crude oil sold via pipelines standing at $4,443,842,235.

As of Q4 2020, $294,315,126 of KRG funds remained held in a bank account in Lebanon due to restrictions on transferring foreign currency outside the country.   (Source: KRG)The full 2020 audit report is available here:

https://gov.krd/english/information-and-services/open-data/deloitte-reports/deloitte-report-2020/

butterfly   Iraqi Electricity Minister Resigns over Power Cuts............1st July 2021 in Iraq Industry & Trade News, Politics.........Iraq's Minister of Electricity, Majed Mahdi Hantoosh [Hantoush], has reportedly submitted his resignation, following protests over repeated power cuts.

Anadolu Agency says the resignation was accepted by Prime Minister Mustafa Al-Kadhimi.

Muqtada Al-Sadr, leader of the Sadrist movement, had recently called for the Minister to be sacked.

(Source: Middle East Monitor)

UNEEK   I sure did enjoy reading sergio the other day - wish he would participate more often -- wonder what happened to BobbyC? - I guess folks are just frustrated?

butterfly  UNEEK It is and has been amazing how many contacts Sergio has and that is why he closed his website and still has contacts. He is one busy busy business man. I don't know how he even has time to sleep.

UNEEK   I do read the news - not word for word but most of it - I would not attempt to challenge any of it or explain what it all means lol but still like staying connected with it in hopes that peace will reign and Iraq will make changes and end the corruption -- heck I wish that for America !!

Butterfly   From posting all the articles I did back then are much better, in Iraq's progress, so I hope they can proceed, but it is hard to get rid of how one has lived/been directed how to think and live.

UNEEK   butterfly I have been holding dinar since 2009 - visited a lot of sites - and chat rooms

Butterfly   As I was told many years ago by an IQD dealer to STOP listening to the so-called gurus because IF or WHEN the IQD will benefit us, it will be International news. That is why he and I stopped posting.

UNEEK   butterfly I kinda agree since other currencies are in the news even today about going up or down in value - the Yuan and rupee for instance

Butterfly  I have enjoyed how they have made some progress, but I personally feel it is way off to benefit us.

butterfly Once you have been under a dictatorship for decades, it is hard to change your mind......or even realize you have a mind.

UNEEK   butterfly I am sure - I could elaborate on that more but will just agree for now  :)

butterfly  UNEEK You don't need to, I can read what you just said. lol

butterfly  A slight change in the dollar exchange rate in the local markets

Thursday July 1, 2021 | 11:23 am  A slight change in the dollar exchange rate in the local marketsThe exchange rates of the dollar against the Iraqi dinar on a daily basis, according to the variables of the currency exchange market in the capital, Baghdad, and the provinces of the country .

The selling price of the dollar is 147,300 per $100, compared to yesterday (147,100 per $100 )

The purchase price of the dollar is 147,200 per 100 dollars, compared to yesterday (147,000 per 100 )

The conditions that the country is witnessing, especially the economic and political, are reflected in the dollar exchange rate, despite the Central Bank fixing the price of 1145 dinars for each one country, but the exchange rates rose during the past days in the local markets, exceeding 150 thousand dinars for each paper of $100 denomination, later dropped.   aynaliraqnews.com

butterfly  Al-Kazemi: We seek to attract investors and secure an optimal investment environment by facilitating all procedures related to investing in Iraq

Thursday 01 July 2021 17:13......Prime Minister Mustafa Al-Kazemi affirmed that the government seeks to attract investors and secure an optimal investment environment by facilitating all procedures related to investment in Iraq. Al-Kazemi also stressed in his meeting that the Iraqi government is continuing to implement economic reforms, diversify investment and revive stalled projects, as it seeks to attract investors and secure an optimal investment environment by facilitating all investment-related procedures. He stressed that the government has made significant progress in combating terrorism and uprooting its roots, as well as confining weapons to its hands by supporting the security forces and restoring confidence between them and society, to address its role in confronting terrorism, uncontrolled weapons and crime gangs. 

During his meeting with the President of the European Parliament, David Sassoli, at the Parliament headquarters as part of his visit to the Belgian capital, Brussels, Al-Kazemi said: “Iraq aspires to build distinguished relations with all European Union countries, in a way that helps Iraq overcome its crises, supports security and stability in the Middle East, as well as supports the role Iraq is pivotal in defusing crises in the region.

Al-Kazemi said: "He is counting on developing the relations of the European Parliament with the Iraqi Parliament, in the field of exchanging legislative experiences, promoting a culture of human rights, defending minorities and consolidating democracy."

butterfly  He stressed the government's aspiration for European support in mobilizing the international effort to support the issue of mass graves and the missing people left behind by ISIS through organized mass killing campaigns, and joint work with the relevant Iraqi and international bodies. Iraq also looks forward to the European Union's support for its efforts to secure the stability of the liberated areas, from Through the provision of humanitarian aid and the promotion of stability and reconstruction.

For his part, the President of the European Parliament, Mr. David Sassoli, welcomed the Prime Minister and his accompanying delegation, and affirmed the European Parliament’s support for all government steps aimed at reform, and everything that would enhance security and stability in Iraq and the region.

Butterfly   Parliamentary Security decides to host security leaders and officials to diagnose and remedy violations

Thursday 01 July 2021 17:42 ............The Parliamentary Security and Defense Committee decided to host security leaders and officials in the coming days, and to find out the reasons that led to the recent security breaches, for the purpose of addressing them.

And the Parliamentary Committee decided, during its emergency meeting today, Thursday, to discuss the security situation in Iraq in general, and the security breach that occurred in Sadr City in particular, that the members of the committee should pay field visits to the operations cutters and diagnose the kinks.

butterfly   The House of Representatives decided, in its session held today, Thursday, to postpone the vote on the draft information crimes law, at the request of the relevant committee.

Zig  "Prime Minister Mustafa Al-Kazemi affirmed that the government seeks to attract investors and secure an optimal investment environment by facilitating all procedures related to investment in Iraq. Al-Kazemi also stressed in his meeting that the Iraqi government is continuing to implement economic reforms, diversify investment and revive stalled projects, as it seeks to attract investors and secure an optimal investment environment by facilitating all investment-related procedures."..............I like that part.....  :Yes:

butterfly   Zig They have been going after all countries, which is very refreshing to see/read.

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Zig’s Place Chatroom News Wednesday AM 6-30-21

Zig’s Place Chatroom News Wednesday AM 6-30-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

butterfly   2021-06-30 07:41   Shafaq News / the Central Bank of Iraq on Tuesday, announced a decrease in the foreign currency exchange.

Shafaq News Agency correspondent said that the foreign currency auction of the Central Bank of Iraq recorded a 10.55 % decrease to 212,727,879 dollars which the bank covered at an exchange rate of 1460 dinars per dollar.

He added that the sales operations were in the form of wire transfer and credits (178,117,879 $) and cash money (34612000 dollars).

Last December, Iraq’s central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.

The central bank of Iraq said the key reason behind the dinar’s devaluation was to close the gap of widened 2021 budget inflation after a collapse in global oil prices, a major source of Iraq’s financial resources.

butterfly  2021-06-30 04:23   Shafaq News/ Gold prices held steady on Wednesday as investors were cautious ahead of U.S. jobs data due later this week, but prices were set to post their worst month since November 2016 on the U.S. Federal Reserve's shift to a hawkish policy stance.

Spot gold was steady at $1,761.80 per ounce, as of 1231 GMT. U.S. gold futures fell 0.1% to $1,761.80.

For the month, prices were down 7.6%. For the quarter, gold had risen 3.2%.

Federal Reserve Governor Christopher Waller on Tuesday said he is "very optimistic" about the economy, and while he declined to say when he thinks the Fed should start raising interest rates, he said it could be next year.

U.S. consumer confidence jumped to its highest level in nearly 1-1/2 years in June as growing labour market optimism amid a reopening economy offset concerns about higher inflation.

The U.S. Labor Department's nonfarm payrolls data on Friday is expected to show a gain of 690,000 jobs this month, compared with 559,000 in May, according to a Reuters poll.

Gold is seen as a hedge against inflation, although a Fed rate hike will increase the opportunity cost of holding bullion and dull its appeal.

Silver rose 0.3% to $25.81 per ounce. Palladium gained 0.4% at $2,686.81 and was headed for a fourth straight quarterly gain.  Platinum rose 0.2% to $1,068.96, and was set to post its worst quarter and month since March last year.   Source: Reuters

butterfly  2021-06-30 00:27  Shafaq News/ The United States told the U.N. Security Council on Tuesday that it targeted Iran-backed militia in Syria and Iraq with airstrikes to deter the militants and Tehran from conducting or supporting further attacks on U.S. personnel or facilities.

Under Article 51 of the United Nations Charter, the 15-member Security Council must immediately be informed of any action that states take in self-defense against armed attack.

U.S. Ambassador to the United Nations, Linda Thomas-Greenfield, said the airstrikes hit facilities used by militia blamed for an escalating series of drone and rocket attacks against U.S. personnel and facilities in Iraq.

"This military response was taken after non-military options proved inadequate to address the threat, with the aim of deescalating the situation and preventing further attacks," she wrote in a letter, seen by Reuters.

President Joe Biden wrote a similar letter to Congress on Tuesday. "The United States stands ready to take further action, as necessary and appropriate, to address further threats or attacks," he said

U.S. troops came under rocket fire in Syria on Monday in apparent retaliation for weekend U.S. air strikes. About 34 rockets were fired in the attack, but there were no injuries, a U.S. military official said on Tuesday.

While the Iraqi and U.S. militaries coordinate closely in a separate battle in Iraq against remnants of the Sunni extremist group Islamic State, Iraq's government and military condemned the U.S. airstrikes against the Iran-back militia.

The United States began airstrikes against Islamic State in Syria in 2014, telling the United Nations it acted because Syrian President Bashar al-Assad's government had failed to wipe out safe havens used by the militants to launch attacks on Iraq.

Iraq told the U.N. Security Council at the time that it requested U.S. help because a safe haven for the militants in Syria had made its border "impossible to defend."   Source: Reuters

Butterfly   Al-Kaabi calls on the Integrity Commission to reveal the results of (54) corruption files related to electricity contracts

Wednesday 30 June 2021 16:40........Hassan Karim Al-Kaabi, First Deputy Speaker of the House of Representatives, chaired an expanded meeting with the advanced staff in the Ministry of Electricity, in the presence of a number of members of the Oil and Energy Committee, and the Parliamentary Integrity Committee, to discuss the reasons for the continuing power outage crisis in Baghdad and other provinces.

Al-Kaabi called during the meeting, "the Integrity Commission to expedite the disclosure of the results of (54) files related to corruption in electricity contracts, which were sent by the Parliamentary Committee in charge of investigating and auditing all contracts of the Ministry of Electricity from 2006 to 2020, which had previously revealed its initial report through one of the public sessions of the Council Representatives."

He stressed, "A number of officials and employees in the ministries (electricity, finance, oil) were a primary and direct reason for the continued deterioration in the electrical sector over the past years for many reasons related to financial or administrative corruption, and their failure to even take steps that would mitigate these the crisis ".

Al-Kaabi added, "The House of Representatives has previously hosted the Minister of Electricity and the advanced cadre in the ministry and made the financial allocations they demanded to address the electricity problem throughout the country before the summer season, noting that there is widespread popular discontent and great disappointment as a result of the default that cast a shadow on the the responsibility of the citizens.”

butterfly  He stressed, "The House of Representatives will take strict and fair decisions during the next few period against everyone who fails to manage this file for one reason or another, and there will be no guarantees to protect any negligent, starting from the minister to the smallest employee in the ministry."

And the member of the Presidency added by saying: The repeated targeting of electric power towers in Baghdad and a number of provinces may be a planned and organized act, containing suspicions of corruption, and an attempt to evade responsibility for power outages throughout the country and justifying it by being exposed to these sabotage acts, while the Security Committee directed And Parliamentary Defense to follow up on the most accurate details related to the issue of targeting energy, especially in recent days, and to give the results of the investigation as soon as possible to the Presidency of the Council.

” He called on the concerned parliamentary committees to submit an urgent report to today’s meeting in order to include it in one of the next few parliament sessions, and to inform the people of the reasons The crisis, the recommendations, and the measures that the council will take against the defaulters.”

butterfly  Iraq replaces state media head   An Iraqi court has reinstated the former president of the Iraqi Media Network, annulling the appointment of Nabil Jasem.

butterfly  June 30, 2021   The Supreme Administrative Court of Iraq reinstated Fadl Farajallah, former head of the Iraqi Media Network (IMN), on May 31, annulling the appointment of the network’s current president, Nabil Jasem. Iraq's next elections are slated for October 2021 and deep differences plague the various political blocs, which are fighting to control the state media.

Jasem took up his post as the network’s CEO on July 19, 2020. Iraqi Prime Minister Mustafa al-Khadimi asked him to preserve the IMN’s independence and to make it the voice of the Iraqis rather than a mouthpiece for the government.

According to the law, the IMN is an independent body supervised by a board of trustees whose members are chosen by parliament. But since its establishment following the overthrow of Saddam Hussein’s regime in 2003, the IMN has been effectively under the authority of the prime minister’s office while the various political parties vy to control it.

Jasem told Al-Monitor, “The IMN is the official public broadcasting institution. It was affiliated with the Dawa Party headed by Prime Minster Nour al-Maliki, and his party continued to control it even after he left office in 2014. He added, “The Dawa Party is seeking to retake control of the IMN through the administrative court system before the October 2021 parliamentary elections, to use the network’s print and audio-visual media in electoral propaganda.”

Meanwhile, Hisham al-Rikabi, the spokesman for the State of Law Coalition, told Al-Monitor, “The administrative court’s decision cannot be described as politically motivated because it reinstated the IMN’s former president Fadl Farajallah, who was dismissed by the Board of Trustees without any legal ground. He was elected for four years and then was removed 16 months into his term.”

butterfly   “The court’s decision was made on clear legal grounds,” he added.

Rikabi went on to say, “Contrary to what is rumored, the court faced pressure because it is no longer a secret that Farajallah’s opponents belong to currently influential parties controlling the state, in addition to their affiliated armed militias. The court did not give in and made its decision objectively.”

Retired judge Tariq Har told Al-Monitor, “The administrative dourt deemed the decision to dismiss Fadl Farajallah illegal. The court’s decision did not provide for replacing Nabil Jasem but only annulled his appointment. Jasem can appeal the decision if he wishes.”

Alaa al-Hattab, a member of the board of trustees, told Al-Monitor, “The IMN is now much less affected by the political conflict, and enjoys a good margin of freedom in reporting compared to previous years.”

Commenting on whether the network could be used for political motives in the upcoming elections, Hattab said, “The IMN’s role in the elections will be to raise awareness on the need to vote and to allow all candidates to present their resumes.”

The power-sharing between the different political parties in Iraq has become so entrenched that ministries and other important state institutions are named after the parties that run them. On July 8, parliament stressed the “need not to interfere with the board’s decisions that are line with IMN law.”

The Iraqi Media Network has been always at the center of conflict between the political parties due to its broad influence on the Iraqi public, and it's a constant struggle to maintain its independence and not follow the governments that change every legislative period.

butterfly   https://www.theguardian.com/commentisfree/2021/jun/30/lytton-hottest-places-world-climate-emergency?CMP=Share_iOSApp_  Other How did a small town in Canada become one of the hottest places on Earth?

butterfly  Just for you David!

Dave   butterfly How did a small town in Canada become one of the hottest places on Earth? .......Gosh summer just started......set records over the last several years with forest fires which blocked much of the sun making it hard to breath. Over 124 people died in Vancouver from heat exhaustion the other day.alone....You ask how? Some folks like DJT suggest climate change is a big hoax.....some Scientists suggest otherwise........More concerned with how this may play out with my children's children..........

butterfly   Iraqi Dinar/US Dollar auction results for tomorrow 7-1-2021 executed today 6-30-2021

25k Iraqi Dinar notesThe results of the foreign currency sale window for Thursday, 7/1/2021, and executed today   Announcement No. (4442)   Sale date – Thursday 7/1/2021 and executed today

the details  the amount  

Total sale for the purposes of strengthening balances abroad (remittances, credits) 175,344,000

Total cash sale  19,790,000  Total total sales  195,134,000

Note that:   The selling price of the amounts transferred to bank accounts abroad is ( 1460 ) dinars per dollar.

The cash sale price is ( 1460 ) dinars per dollar.   cbi.iq/currency_auction/view/1057

butterfly   Iraq..a defect in the energy system permanently impedes the supply of electricity

2021-06-30 09:07  Iraq..a defect in the energy system permanently impedes the supply of electricityShafaq News / The Government Action Monitoring and Strategic Planning Committee spoke, on Wednesday, about a defect in the energy system that does not help supply electricity to citizens on a permanent basis, while noting that energy production in Iraq ranges between 15-17 thousand megawatts.

Iraq has been suffering from the electricity shortage crisis for decades as a result of successive wars and the instability of the security situation in the country, as well as the rampant corruption.

For many years, residents have protested against frequent power cuts, especially in the summer, when temperatures sometimes reach 50 degrees Celsius.

Committee member Muhammad Al-Baldawi told Shafaq News Agency, “The defect in the electrical system consists of three parts, starting from generation and production of energy to transmission, the last of which is distribution, and all of them need maintenance and renewal of transformers and cables to transmit energy and distribute it to cities and residential neighborhoods.”

Al-Baldawi added, “There are problems between state ministries in terms of equipping stations with fuel, continuing to import gas, and not benefiting from gas associated with oil to generate electric power.”

Regarding the targeting of energy towers, he explained that “these attacks are deliberate and have an impact on the security situation, given that electricity is the most important thing in life and provides the most basic needs of citizens.”

Al-Baldawi called on the security services to activate the security and intelligence effort and to reveal the parties behind the targeting of transmission towers and power stations.  shafaq.com

butterfly   The Central Bank of Iraq announces the imminent launch of an identity that organizes the opening of bank accounts for citizens from their homes

June 30, 2021 2:05 PM   The Central Bank of Iraq announces the imminent launch of an identity that organizes the opening of bank accounts for citizens from their homesMubasher: The Governor of the Central Bank of Iraq, Mustafa Ghaleb, announced Tuesday, the imminent launch of an identity that organizes the opening of an account for citizens from their homes, while referring to the creation of the electronic collection system that the bank has been working on since 2019.

The media department of the House of Representatives said in its statement today, Wednesday, that “the committee to monitor the implementation of the government program held several meetings to evaluate the government’s work and presented, in a previous period, a detailed report to the House of Representatives, in which it touched on the percentages of achievement and areas of failure.”

She pointed out that “the government has not yet presented its government program, which has led to a lack of coordination between the various state institutions.

According to the statement, the committee submitted a number of questions regarding a number of related issues that fall within the work of the Central Bank, most notably the negative effects of the decision to raise the exchange rate, as well as the absence of the reasons and justifications mentioned for this, especially with the increase in bank sales through the currency sale window and the possibility of filling the deficit after the increase in the oil price In addition to the lack of the necessary conditions to preserve the local product, the many exceptions to this, and the clear delay of the Made in Iraq project,

butterfly   The stages of completion of the ministerial curriculum and the application of mechanization were also discussed, in addition to the measures taken by the Central Bank and government banks regarding administrative reform.

The committee discussed the foundations adopted by the Central Bank in classifying banks, closing banks in violation of the law, and the consequences of raising the exchange rate on the poor and middle class, stressing the need for coordination between the government and the Central Bank to begin drafting a draft law for the bank.   mubasher.info

butterfly   A deputy confirms: The government’s steps to benefit from the surplus oil revenues go to strengthen the cash reserve

Wednesday 30 June 2021 | 02:56 PM   Iraqi Dinar-Dollar auctionsAfter the outbreak of the Corona pandemic and its impact on the global economy, Iraq was also affected economically, which prompted the government to borrow from the central bank and thus decreased the cash reserve of the central bank, which means that the government has to compensate for the shortfall in the cash reserve, which is what the government actually started with with the high prices oil.

Representative Jamal Cougar says, so far, the government’s steps to benefit from the amounts of the increase in oil revenues are to enhance the bank reserves, as it has fallen to very low levels from 82 billion dollars to less than 55 billion dollars, adding that it is now being strengthened and I think it has reached more than 60 billion dollars.

As for the second reason for excluding presenting a supplementary budget, MP Cougar continues, that this budget needs to be prepared and then sent to the House of Representatives, and the House needs to hold sessions in the Parliamentary Finance Committee with the participation of the rest of the committees, communicate with the ministries, make a first reading and then a second reading and vote on it, we believe the government She will not go for this option while she is now busy preparing a draft budget law for 2022,

stressing that preparing the supplementary budget needs time to prepare, discuss it in the parliament and vote on it, and we are heading to elections, which have become the preoccupation of many deputies nominated for an upcoming election cycle, thus completing the quorum and reading the draft The budget law is a first and second reading and voting on it needs to complete the quorum. I think this is very difficult in the next stage. Finished 3 Source: PUKmedia    aynaliraqnews.com

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Zig’s Place Chatroom News Tuesday PM 6-29-21

Zig’s Place Chatroom News Tuesday PM 6-29-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

Dave   DAng......Pacific Northwest has broken historical RECORD TEMPS for days......with humidex.......over 120 degrees in many regions........most folks do not have central AC.......ouch!

butterfly   RECORD breaking records Dave . Now think of living in Iraq without any a/c.

Dave  butterfly make one GRUMPY?????

butterfly   I have my a/c being replaced right now, in and out the door they are working but, I won't complain with my new furnace and a/c.

Dave   we may get 1-2 days here a yr where temps go beyond 90 degrees......

Dave   only miss something when you dont have it........

Dave  summer just started........

Dave  record number of forest fires in recent yrs..........this summer looks to be worse.......

Dave  flooding now a major concern........snow melt from the mountains.........

Dave  hard to imagine flooding during a drought

butterfly  Iraqi Dinar/US Dollar auction results for tomorrow 6-30-2021 executed today 6-29-2021

United States DollarThe results of the foreign currency sale window for Wednesday 06/30/2021 and executed today   Announcement No. (4441)  Sale date – Wednesday 30/6/2021 and executed today

the details     the amount

Total sale for the purposes of strengthening balances abroad (remittances, credits)  178,117,879

Total cash sale  34,610,000   Total total sales   212,727,879

Note that:   The selling price of the amounts transferred to bank accounts abroad is ( 1460 ) dinars per dollar. The cash sale price is ( 1460 ) dinars per dollar.    cbi.iq/currency_auction/view/1056

butterfly Officially.. the Iraqi Minister of Electricity submits his resignation to Al-Kazemi

Tuesday, June 29, 2021 | 12:08 PM   Officially.. the Iraqi Minister of Electricity submits his resignation to Al-KazemiThe Iraqi Minister of Electricity, Majid Hantoush, submitted his resignation to Prime Minister Mustafa Al-Kazemi .

The resignation comes after a complete decline in the hours of electricity supply in Iraq, with high temperatures, and an organized campaign launched by unknown persons to blow up the power supply towers .

A spokesman for the Ministry of Electricity, Ahmed Moussa, said, “The minister has already submitted his resignation to the Prime Minister, refusing to go into more details.   aynaliraqnews.com

butterfly  Low dollar exchange rates in Baghdad

Tuesday, June 29, 2021 | 10:49 am   Low dollar exchange rates in BaghdadThe exchange rates of the US dollar fell against the Iraqi dinar, on Tuesday, on the main stock exchange in the capital, Baghdad, and the Kurdistan Region .

A source said that the Central Kifah and Al-Harithiya Stock Exchange in Baghdad recorded, today, 146,800 Iraqi dinars for every 100 US dollars .

The Central Kifah Stock Exchange recorded, during its opening Monday morning, 147,100 Iraqi dinars, compared to 100 dollars .

He pointed out that buying and selling prices decreased in banking shops in the local markets in Baghdad, where the selling price amounted to 147,250 Iraqi dinars, while the purchase prices amounted to 146250 dinars per 100 US dollars .

In Erbil, the capital of the Kurdistan Region, the price of the dollar also decreased, as the selling price reached 147,200 dinars per 100 US dollars, and the purchase price was 147,000 dinars per 100 dollars. aynaliraqnews.com

butterfly  An economic specialist to / Nina /: The dollar price will remain high .. and its return to what it was before will be within two years

Tuesday 29 June 2021 19:26......The specialist in economic affairs, Hussein Shaker Tohilo, ruled out the return of the dollar exchange rate to its previous price against the dinar, 118 thousand dinars, describing the recent discussions by the Parliamentary Finance Committee and the Central Bank as courtship.

Tohilo said in a statement to the National Iraqi News Agency / NINA, / that "the Parliamentary Financial Committee's recent flirtations with the Governor of the Central Bank do not work for the return of the dollar exchange rate to what it was in the past, and the suffering of citizens will remain, stressing that, the instability of the dollar exchange rate and its rise in The recent period, with the increase in food prices in general, is due to the policy of the Central Bank.

He pointed out that "the policy of the Central Bank focused on reserve growth only, as it caused confusion in monetary policy, instability of the exchange rate, and neglect of other real economic indicators (such as domestic product, public debt, interest, employment and unemployment, poverty rate, and net foreign trade) so it is difficult That the exchange rate returns to what it was in the past, except within two years, after which it will be done gradually.   The exchange rate of the dollar today, Tuesday, was 147.250 dinars against every $100.

Butterfly   Allawi: Iraq has become an arena for settling international and regional conflicts, and the government does not have the ability to stop them

Tuesday 29 June 2021 18:28...........The leader of the National Coalition, Iyad Allawi, stressed the need to establish rules of engagement that determine the work of foreign forces present in Iraq, in which Iraq has sovereignty and the need to adhere to them.

Allawi said in a statement: "All indications confirm that Iraq has become an arena for settling international and regional conflicts, and that the government does not have the ability to stop these conflicts."

He explained that the Iraqi people are the ones who pay the price in all fields, reiterating his call to take all measures and measures to preserve the sovereignty and prestige of the state and that Iraq should not remain an arena or theater for these conflicts.

butterfly  Qubad Talabani and Australian Ambassador discuss a number of important issues on both sides

Tuesday 29 June 2021 22:36.........Deputy Prime Minister Qubad Talabani in the Kurdistan Region discussed today, Tuesday, with Australian Ambassador to Iraq Paula Canley, a number of important issues on both sides.

During the meeting, the two sides discussed "Iraq's security conditions and the dangers of the return of the terrorist organization ISIS, and their views agreed on the need to increase coordination between the Kurdistan region, the federal government and the international coalition against ISIS to confront the dangers of this organization and the phenomenon of terrorism in general."

The reform and efforts to end corruption in the Kurdistan region were also discussed, and during that, Qubad Talabani called on Australia to help more in developing agriculture and water resources in the Kurdistan region, explaining that the program of the regional government is to make agriculture an important source of revenue and the economy of the Kurdistan region. /finished8

On the upcoming Iraqi elections, the Deputy Prime Minister and the Australian delegation stressed that the elections will be held on their scheduled time, the tenth of next October, in a free and transparent manner, to be a strong basis for forming the next government in Iraq.

butterfly   Khazali: Britain considers itself the sponsor of Iraq and responsible for the state until now

Tuesday 29 June 2021 22:39...........The Secretary-General of Asa'ib Ahl al-Haq, Sheikh Qais Al-Khazali, said that Britain considers itself the sponsor of Iraq and responsible for the state until now.

He added, in a televised statement, that Britain is primarily responsible for preparing the resolution, and America is participating in its implementation.

He explained: The Twentieth Revolution was the most important revolution in the modern history of Iraq.

Khazali indicated that Britain is primarily responsible for the Baath Party and its communication with it after 2003, as Britain seeks to return the senior officers of the Baath Party to the political arena in accordance with the "national unity" project, and stated: Britain is secretly responsible for the riots that occurred in the demonstrations.

Khazali stressed: Western embassies have taken a negative approach to internal Iraqi affairs, such as the Dutch embassy.

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Zig’s Place Chatroom News Tuesday AM 6-29-21

Zig’s Place Chatroom News Tuesday AM 6-29-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

Sandyf @Dave nor can one exchange iqd at any forex kiosk - As an Art 14 currency the IQD is a non convertible currency and would not be recognised by international exchange facilities. That does not mean it cannot be used for trade under bilateral arrangements.

If Iraq were to adopt the obligations of Art 8 then the currency would become partially convertible and as such Iraq would be obliged to redeem the currency. It would then be recognised by the exchange facilities. Under normal circumstances only fully convertible currencies are used for international trade.

Butterfly   The Parliamentary Strategic Planning and Government Program Follow-up Committee meets with the Governor of the Central Bank and managers of some banks

Tues 29 June 2021..The follow-up committee for the implementation of the government program and parliamentary strategic planning held a meeting with the governor of the Central Bank and directors of housing, real estate, Rafidain and Rashid banks.

butterfly   A parliamentary committee reveals to / Nina / the details of its meeting with the governor of the Central Bank and managers of government banks

Tuesday 29 June 2021 14:35.............The Parliamentary Strategic Planning and Government Program Follow-up Committee disclosed the details of its joint meeting with the Governor of the Central Bank and the directors of housing, real estate, Rafidain and Al-Rasheed banks.

Committee member MP Alia Nassif stated, in a statement to the National Iraqi News Agency ( NINA ), that "the joint meeting is related to the ministerial curriculum submitted by the government and the evaluation of the implementation of its work for the past year, which obligated the Parliamentary Committee to summon all ministries and government sectors, including the Central Bank."

She added that "the meeting discussed the issue of the currency exchange rate and the failures of banks related to the activities of banks, as well as housing loans, the mechanism for their implementation and their obstacles," noting that "many questions were directed to the governor of the Central Bank about the feasibility of a high currency exchange rate in light of the financial abundance achieved by the rise in oil prices."

She explained that "the government's justifications for raising the exchange rate at the time were related to securing the salaries of employees, and today we have a clear financial abundance, so why continue to increase the exchange rate and not control speculation in the currency rate in the local market."

Today, Tuesday, the committee to follow up on the implementation of the government program and parliamentary strategic planning held a joint meeting with the governor of the Central Bank and directors of housing, real estate, Rafidain and Rashid banks, on evaluating the performance of banks and general financial and monetary policy.

Butterfly   Parliamentary legal reveals to / NINA / new details about the joint meeting with the Governor of the Central Bank

Tuesday 29 June 2021 15:12........The Parliamentary Legal Committee revealed new details of the parliamentary meeting with the Governor of the Central Bank and the directors of the housing and real estate banks, Al-Rafidain and Al-Rasheed.

Member of the committee, Representative Hussein Al-Aqabi, said, in a statement to the National Iraqi News Agency ( NINA ), that "there are major gaps in the work of banks, some of which exist because of the banks themselves, and others are linked to government agencies and other institutions, including border crossings, customs, the Real Estate Department, the Companies Registrar and the Ministry of Trade."

He added, "These loopholes create noticeable confusion and corruption operations, especially in the currency auction," noting that "the meeting discussed the repercussions and damages of the currency auction, as we proved its economic futility and the need to search for other mechanisms in marketing the currency to real "field" traders.

He explained, "We confronted the governor of the Central Bank with facts and evidence that the currency auction is supported by parasitic banks and banks whose function is only investment, and therefore we are waiting for the bank's governor's actions regarding it."

Today, Tuesday, the committee to follow up on the implementation of the government program and parliamentary strategic planning held a joint meeting with the governor of the Central Bank and directors of housing, real estate, Rafidain and Rashid banks, on evaluating the performance of banks and general financial and monetary policy.

Butterfly   Italy Increases Iraq Funding by $2.4m.........29th June 2021 in Construction & Engineering In Iraq, Iraq Industry & Trade News,,,,,,,,,,,,,,,The Ministry of Foreign Affairs and International Cooperation of Italy, represented by the Italian Agency for Development Cooperation (AICS), is supporting the United Nations Development Programme (UNDP) with an additional EUR 2 million (US$2.4 million) to assist communities affected by the Islamic State of Iraq and the Levant (ISIL).

Italy's contribution will be channelled through UNDP's Funding Facility for Stabilization (FFS), which implements fast-track initiatives in areas liberated from ISIL. Italy has generously provided more than US$18 million, since the Facility was set up in 2015 with the objective of returning Internally Displaced Iraqis to their homes.

"We appreciate this timely support from Italy. Thanks to our partners, the FFS can continue its work to improve conditions in the Liberated Areas and assist those who remain displaced to come home in safety and with dignity," says UNDP Resident Representative Zena Ali Ahmad.

"With this important contribution Italy reaffirms its commitment to support displaced return to their communities to rebuild their lives," adds Ms Ali-Ahmad.

The Ambassador of Italy to Baghdad, Bruno Pasquino, commended the additional contribution of the Italian Government as another concrete step towards a more stable, secure and safe Iraq. "This initiative is in line with the priorities of the Italian cooperation towards improving gender equality and contributing to conflict prevention and mitigation, » says AICS Amman Director Michele Morana.

"The Italian government fully supports the stabilization process in Iraq, by contributing to create better conditions for a sustainable and dignified return of displaced persons to their homes and reintegration into their communities, and effectively supporting their safety and security».

butterfly   With the support of 27 partners and the Government of Iraq, the FFS has completed over 2,831 projects in areas liberated from ISIL, benefitting more than 13 million Iraqis with improved basic services, education, health and infrastructure. It has assisted 4.8 million internally displaced persons (IDPs) to return home.  (Source: UN)

butterfly  Iraq, Jordan and Egypt agree Energy Projects...........29th June 2021 in Iraq Industry & Trade News, Iraq Oil & Gas News, Politics, Security.......Egypt's President Abdel Fattah al-Sisi and Jordan's King Abdullah arrived in Baghdad on Sunday for a fresh round of talks aimed at strengthening cooperation between the countries.

It is the first visit by an Egyptian head of state to Iraq since Iraq's invasion of Kuwait in 1990.

The leaders agreed on the importance of the electrical interconnector project between the three countries, and linking the gas transmission networks between Iraq and Egypt through Jordan.

They also pushed for the completion of the Basra-Aqaba crude oil pipeline, which will provide a new outlet for the export of Iraqi oil through Jordan.   (Source: Govt of Iraq)

butterfly   2021-06-29 07:18   Shafaq News/ Iraq's Basrah Gas Co. signed an agreement with the International Finance Corporation for a loan to fund a project to limit the flaring of natural gas, the state-run Iraqi News Agency reported on Tuesday.

Iraq continues to flare some of gas extracted alongside crude oil because it lacks the facilities to process it into fuel for local consumption or exports.

Gas flaring costs nearly $2.5 billion in lost revenue for the government and would be sufficient to meet most of the needs for gas‐based power generation, according to the World Bank.

IFC is investing in Basrah Gas Company (BCG) to support one of the largest gas flaring reduction projects globally, helping to improve energy access, prevent associated greenhouse gas (GHG) emissions and support a more resilient, sustainable energy sector in Iraq.

BGC is an Iraqi joint venture created to treat and process associated gas that would otherwise be flared. The project is expected to increase BGC's processing capacity, thereby avoiding more unnecessary flaring and associated GHG emissions by around 10 million tons per annum. It will support Iraq's transition to a lower-carbon path and improve access to a domestic energy source, helping the country meet its growing power needs.

butterfly  IFC, a member of the World Bank Group, is the lead arranger of the five-year, $360 million loan to BGC.

'Signing the loan agreement reinforces the collective efforts to increase investment in associated gas flaring reduction using world-class technologies. It is in line with our objectives of turning flared gas into cleaner valuable energy and reducing the impact of the Green House Gas emissions on the environment,' said Ihsan Abdul Jabbar Ismail, Minister of Oil for Iraq.

'This loan opens new horizons for cooperation and collaboration that serve common purposes and interests, reiterating Iraq's commitment to increasing investment in associated gas flaring reduction and to achieving the objectives set by the Paris Agreement.'

'We are delighted to have successfully signed this loan with IFC, the first loan facility of its kind in the energy sector in Iraq-a milestone to be proud of,' said Malcolm Mayes, BGC Managing Director. 'The agreement demonstrates the strength of Iraqi companies and their ability to attract funding and trust from international banks.

This five-year loan intends to support BGC's growth project and turn the otherwise wasted flared gas into much-needed energy for the country. Our strategy is in alignment with the government of Iraq's vision to power Iraqi homes with electricity and create a more sustainable energy industry.'

'This pioneering project has the potential to deliver significant environmental and economic benefits, including lower GHG emissions and increased fiscal revenues, and will improve energy access and lower costs for Iraqi citizens,' said Sérgio Pimenta, IFC Vice President for the Middle East and Africa. 'The project comes after years of hard work and strong cooperation by all parties involved. We hope that it will send a strong signal to other investors and help drive more private investments to tackle climate change and support inclusive growth in Iraq.'

butterfly   IFC's investment comprises a $137.76 million loan for IFC's own account, a $180 million loan in which participations were syndicated to eight international banks (Bank of China, Citi, Deutsche Bank AG, Industrial Commercial Bank of China, Natixis, Sumitomo Mitsui Banking Corporation, Société Générale and Standard Chartered Bank), and a $42.24 million loan through IFC's Managed Co-Lending Portfolio Program, a platform that allows institutional investors to participate in IFC's loan portfolio. The loan is without recourse to or guarantees from any of the shareholders.

Iraq is endowed with significant reserves of natural gas, mainly produced as a byproduct of legacy oil extraction. However, in the absence of adequate infrastructure to capture and process it, about 70 percent of all natural gas produced in the country is flared. Capturing associated gas for subsequent use can help Iraq reduce overall emissions.

The project benefits from long-standing engagements of the World Bank Group in Iraq's energy sector. Iraq joined the Global Gas Flaring Reduction initiative in 2011 and committed in 2013 to eliminate all routine natural gas flaring by 2030.

butterfly  2021-06-29 05:33   Shafaq News/ A source reported today that a meeting was held between the head of the Al-Fatah Alliance Hadi Al-Amiri and Prime Minister Mustafa Al-Kadhimi in the Green Zone.

The source told Shafaq News Agency that during the meeting, Al-Amiri stressed that the demands of the political forces and armed factions changed after the recent U.S. bombing from a scheduled to an immediate and complete departure of the U.S. forces from Iraq.

The source added that al-Kazemi confirmed to Al-Amiri that he would discuss this matter with the specialized Iraqi technical-military committees and the American side.

This action comes a day after U.S. aircraft targeted three sites belonging al-Hashd al-Shaabi brigades, in Al-Qaim, west of al-Anbar, killing our of its members.

Sheila   hope gives us strength to carry on each day

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Zig’s Place Chatroom News Monday AM 6-28-21

Zig’s Place Chatroom News Monday AM 6-28-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

Butterfly   A continuous decline in the price of the dollar on the main stock exchange …..Monday 28 June 2021 11:07.............The exchange rates of the US dollar fell against the Iraqi dinar, today, Monday, on the main stock exchange.

The price of the dollar on the Central Kifah and Al-Harithiya Stock Exchange in Baghdad recorded 147,100 Iraqi dinars for every 100 US dollars.  And the Central Kifah Stock Exchange recorded, during its opening yesterday, Sunday, 147,300 Iraqi dinars, compared to $ 100.

butterfly   Oil prices are falling, and Brent is stable at $ 75.25 a barrel

Monday 28 June 2021 10:01..............Oil prices recorded, on Monday, a slight decline, as investors awaited the results of OPEC + this week.

Brent crude for next August settled 13 cents, or 0.17 percent, at $75.25 a barrel.

US West Texas Intermediate crude for the month of August also recorded a slight decline, reaching $74.03 a barrel, down two years, or 0.04 percent.

The group of producers, known as OPEC+, is returning 2.1 million barrels per day to the market from May to July as part of a plan to gradually loosen record production curbs last year.

OPEC + meets on July 1 and could ease supply cuts in August as oil prices rise as demand recovers.

butterfly   An economist to NINA: The tripartite summit will achieve great success by opening new horizons towards joint tripartite cooperation

Monday 28 June 2021 10:05.........The economic expert, Raad Twij, suggested that the tripartite Arab summit in Baghdad would record great success by opening new horizons towards joint tripartite cooperation.

Twig said in a statement to the National Iraqi News Agency ( NINA ) that "the motives of the tripartite summit (Egypt, Iraq, Jordan) are more economic than political, and confirm the opening of new horizons in river and land economic cooperation, calling for investing them seriously and implementing its provisions in the near time to put its fruits sooner for the Iraqi people."

He continued: "The importance of convening the summit in its third part in Baghdad, will also have a clear impact in cooling the region's conflicts and pushing towards calm and the formation of Arab unity."

Yesterday, Sunday, a tripartite summit was held in the capital, Baghdad, between Egyptian President Abdel Fattah Al-Sisi, Prime Minister Mustafa Al-Kazemi, and the King of the Hashemite Kingdom of Jordan, King Abdullah II, to discuss the political and economic conditions of these countries.

butterfly   2021-06-28 06:43   Shafaq News/ The Parliamentary Finance Committee warned the Iraqi government of a "financial collapse" as a result of not controlling the dollar's exchange rate against the Iraqi dinar.

Committee member Abdul Hadi Al-Saadawi told Shafaq News Agency, "Iraq mainly depends on oil imports, and any drop in oil prices will cause a financial collapse."

"The financial situation in Iraq has begun to collapse dramatically, without any treatment or solutions from the government," warning against of neglecting customs and border crossings revenues, as well as taxes and fees imposed on imported goods and commodities."

Al-Saadawi stressed, "Iraq's need for appropriate solutions and plans to address the financial crisis and save the local currency from financial collapse and control the market."

The Parliamentary Finance Committee had previously issued a warning to the Central Bank of Iraq following the dinar's collapse against the U.S. dollar. It demanded the government to impose measures on private banks and control the market.

Mazhar Muhammad Salih, the economic advisor to the Prime Minister, rules out changing the dollar's exchange rate against the Iraqi dinar any soon, pointing to the central bank's ability to control the exchange rate.

After the government decided to reduce the Iraqi dinar rate against the U.S. dollar in late 2020, the exchange rate of every $100 reached 145,000 dinars.

This price was fixed in the 2021 federal budget, and since then, the dollar exchange rate has not been stable.

butterfly   2021-06-28 05:30   Shafaq News/ The Central Bank of Iraq (CBI) sales in the currency auction registered about $217 million today.

Shafaq News Agency correspondent reported that CBI sales settled at $217,535,448. The weighted average rate of the dinar to the U.S. dollar was specified at 1460.

Our correspondent explained that 20 banks and 18 companies cashed out 50,460,000$, while the $167,75,448 went to boost funds abroad in the form of non-cash and credit transactions, with 36 banks meeting those requests.

Sheila   Days Like This by Van Morrison -- https://www.youtube.com/watch?v=3UUWkr4FUlo

butterfly   Al-Kazemi directs joint operations to hold an emergency meeting in order to ensure the flow of electricity supply to citizens

Monday 28 June 2021 16:23.........The Commander-in-Chief of the Armed Forces, Mustafa Al-Kazemi, during the meeting of the Ministerial Council for National Security, directed the Joint Operations Command to hold an emergency meeting within 24 hours, and to come up with an integrated strategy, in cooperation between the security leaders of joint operations and the Ministry of Electricity, in order to ensure the flow of energy supply to the Iraqi citizen. Electrical.

butterfly   Parliamentary Finance warns the Iraqi government of “imminent financial collapse”

Monday 28 June 2021 | 01:49 PM   Parliamentary Finance warns the Iraqi government of imminent financial collapseOn Monday, the Parliamentary Finance Committee warned the Iraqi government of a “financial collapse” as a result of the lack of control over the dollar’s exchange rate against the Iraqi dinar

Committee member Abdul Hadi Al-Saadawi said, “Iraq depends mainly on oil imports,” explaining that “any drop in oil prices will cause a financial collapse as a result of the government’s lack of control over the dollar exchange rate .”

Al-Saadawi added, “The financial situation in Iraq began to collapse dramatically, without any treatment or solutions for the government,” warning against “not going to customs revenues, border crossings, taxes and fees imposed on imported goods and commodities .”

Al-Saadawi pointed out, “Iraq’s need for appropriate solutions and plans to address the financial crisis to save the local currency (the Iraqi dinar) from financial collapse and control the market.”   aynaliraqnews.com

butterfly   Between the government and the Central Bank.. Members of the Finance Committee reveal the secrets of the rise in the price of the dollar

2021-06-28   Between the government and the Central Bank.. Members of the Finance Committee reveal the secrets of the rise in the price of the dollarThe exchange rate of the dollar against the dinar still casts a shadow on the societal and political sides, while a parliamentarian ruled out the possibility of returning the exchange rate to what it was during this stage, another confirmed that the vision is absent from the government and the central bank in dealing with economic inflation, noting that There is a will and a majority in the House of Representatives, which does not want to return the exchange rate of the dollar against the dinar to what it was.

A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed that there are many reasons that prevent the Central Bank from returning to the old dollar price at this stage, while indicating the possibility of achieving this and creating new job opportunities in the event of a new government coming for a period of four years.

Cougar said in a press interview that “there are many reasons that prevent the central bank from returning to the old dollar price at this stage,” noting that “among the reasons is the bank’s need to have a stable policy, given that the price hike was four months ago. It is not permissible for there to be another change in a short period not exceeding five months, given that the occurrence of this matter will confuse the market and worry investors, traders and foreign currency dealers as a result of low confidence that a new change will not occur again from the Central Bank in the future.

butterfly   Cougar added, “The other matter is related to the federal budget voted by Parliament, in which all of its schedules, accounts and contracts are based on the new exchange rate. Therefore, the contracts that will be awarded by the government will be in dinars, but at the same time, we are not a producing country, but rather an importer and consumer, which means that the effect It will be worrying for the parties that deal with the government in importing and contracting, because they do not have a true picture of the mechanism of dealing according to what price will be for the profit and loss account.

He pointed out, “This is an adventure, and we do not believe that the government will be forced to do so because of the confusion it causes at this time, especially since it is an interim government and has a primary duty to prepare for early elections. These include changing the exchange rate and creating new job opportunities.

Member of the Parliamentary Finance Committee, Abdul Hadi Mohan Al-Saadawi, indicated that the government and the Central Bank have no vision in dealing with economic inflation, while noting that there is a will and majority within the House of Representatives, which does not want to return the exchange rate of the dollar against the dinar to what it was.

Butterfly   Al-Saadawi said in an interview with Alsumaria News, “There is a will and a majority in the House of Representatives, which does not want to return the exchange rate to what it was, and strives to maintain what has been approved by the Central Bank and the Ministry of Finance, because of the benefits of those controlling the government and the bank.” Iraqi Central.

Al-Saadawi added, “There is no vision among many political blocs or the beneficiaries of the exchange rate change, and they are continuing to raise the exchange rate and are also continuing to not automate outlets, customs and fees,” stressing that “the vision is absent from the government and the Central Bank to address the economic inflation that is taking place. in the Iraqi economy and market.

He pointed out that “the program and the paper prepared by the government, which was called the white paper, did not go beyond being ink on paper. The government or the central bank did not follow through with any promises they made for financial and economic reform, and what was applied are formal procedures far from the essence of the solution to economic problems.

” Pointing out that “the government did not release the amount of three trillion dinars allocated to address poverty in Iraq, and social welfare benefits were not passed by Parliament, so the vision is absent and reform does not exist.”   burathanews.com

butterfly   Al-Fateh Alliance in response to the bombing of Al-Qaim: Continuing dialogue with America is a waste of time

2021-06-28 02:19   Al-Fateh Alliance in response to the bombing of Al-Qaim - Continuing dialogue with America is a waste of timeShafaq News/ The Al-Fateh Alliance led by Hadi Al-Amiri considered, on Monday, the American bombing that targeted a faction of the Popular Mobilization on the Iraqi-Syrian border “in response to the review of the crowd last Saturday”, while warning the Iraqi government that the continuation of the strategic dialogue with the United States without a result “procrastination and waste.” for time.”

The coalition said in a statement received by Shafaq News Agency, “With more sadness and sorrow, we bid farewell to a new constellation of our zealous sons today in the popular crowd stationed on the borders (Al-Qaim area) in defense of the holy sites and defending the dignity, pride and sovereignty of Iraq as a result of a treacherous raid carried out by the occupying American forces.” He added, “With this cowardly operation, the US forces prove once again their aggression against the Iraqi people and their sons in the zealous popular crowd, without any right.”

The statement considered the bombing as evidence of “American anger at the successful parade held by the Popular Mobilization Forces and in the presence of the Commander-in-Chief of the Armed Forces in recent days.”

He pointed out that “this incident clearly demonstrates the absurdity of the presence of the US forces and their danger to the security and stability of Iraq, and they want Iraq to remain turbulent and a battleground for conflicts,” stressing that “the government must abide by the government curriculum that was voted on in Parliament as a condition of granting confidence to the government and that The immediate expulsion of foreign forces, especially the American ones, without procrastination.”

butterfly   He added, “It has been more than a year since the formation of the government, and it has been faltering in its place on this issue,” noting that “the continuation of dialogue sessions without results is absurd, and we consider it procrastination and a waste of time.”

The coalition called on the Commander-in-Chief of the Iraqi Armed Forces, Mustafa Al-Kazemi, to “open an investigation into this treacherous targeting of the crowd, and the Ministry of Foreign Affairs should condemn this aggression,” according to the statement.

A security source told Shafak News Agency; At dawn today, an American bombing targeted sectors belonging to the Sayyid al-Shuhada Brigades, which are affiliated with the Popular Mobilization Forces, killing 4 members and wounding an unknown number.   shafaq.com

butterfly   America on the bombing of Al-Qaim: a deterrent message to the “Iranian-backed militias”

2021-06-28 08:27   America on the bombing of Al-Qaim - a deterrent message to the Iranian-backed militiasShafaq News/ The US Secretary of State, Anthony Blinken, announced on Monday that the bombing of a Popular Mobilization headquarters in western Iraq is a deterrent message to what he described as “Iran-backed militias”.

In his statements from Rome, Blinken said, “The United States has taken necessary, appropriate and deliberate action with air strikes in Iraq and Syria with the aim of reducing the possibilities of escalation.”

The US Secretary considered that the strike on sites in Iraq and Syria was a deterrent message to the “Iranian-backed militias,” noting that the attack on these “militias” sites constituted a response to their attacks against the Americans.

Earlier today, the Iraqi National Security Ministerial Council held an emergency meeting headed by Al-Kazemi, devoted to discussing the repercussions of the American bombing of a site on the Iraqi-Syrian border.

The Council affirmed its intention to resort to all available legal options to prevent the recurrence of such “aggressions” that violate Iraq’s airspace and territory, in addition to conducting a comprehensive investigation into the circumstances of the accident and its causes, and working to prevent it from recurring in the future.

butterfly   And the US Department of Defense announced in a statement that “the US military forces launched, earlier yesterday, at the direction of President Joe Biden, precision defensive air strikes against facilities used by Iranian-backed militias in the border area between Iraq and Syria.”

“The targets were chosen because Iranian-backed militias are using these facilities during drone attacks against US personnel and facilities in Iraq. The US strikes specifically targeted operational and weapons storage facilities at two locations in Syria and one location in Iraq, all of which are located Close to the border between the two countries, these facilities have been used by many Iranian-backed militias, including Kata’ib Hezbollah and Kata’ib Sayyid al-Shuhada.”

The so-called “Coordination of the Iraqi Resistance” issued a statement about the recent bombing of the city of Al-Qaim on the Iraqi-Syrian border, and vowed “revenge” through what it described as an “open war”. shafaq.com

butterfly  A new drop in the dollar at the closing of Baghdad markets

2021-06-28 08:27   A new drop in the dollar at the closing of Baghdad marketsShafaq News/ The dollar exchange rate recorded a further decline against the dinar, on Monday, when the main stock exchange in Baghdad was closed.

Shafak News Agency correspondent said that the Al-Kifah and Al-Harithiya Central Stock Exchange closed in Baghdad at 146850 Iraqi dinars, compared to 100 US dollars.

While the price of the dollar recorded this morning 147,100 Iraqi dinars for every 100 dollars.

Our correspondent indicated that buying and selling prices also decreased in banking shops in the local markets in Baghdad, where the selling price amounted to 147,250 Iraqi dinars, while the purchase prices amounted to 146250 dinars per 100 US dollars.  shafaq.com

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Zig’s Place Chatroom News Late Sunday PM 6-27-21

Zig’s Place Chatroom News Late Sunday PM 6-27-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

Butterfly    During a lunch that brought together Sisi and King Abdullah.. Barham Salih: Iraqi-Egyptian-Jordanian cooperation is a turning point towards prospects for peace and development in the region and in response to the challenges of regional and international situations

Sunday 27 June 2021 18:49 ,,,,,,,,,,,,,,, The President of the Republic, Barham Salih, hosted today, Sunday, a lunch banquet in honor of Egyptian President Abdel Fattah El-Sisi, King and Jordanian King Abdullah II.

The President of the Republic stressed during the banquet, which was attended by Prime Minister Mustafa Al-Kazemi, Parliament Speaker Muhammad Al-Halbousi and the President of the Supreme Judicial Council, Judge Faiq Zeidan, that it is an “important occasion that we meet as Iraqis to celebrate the dear guests of Iraq, President Sisi and King Abdullah, stressing the importance of the relations that link the three countries and the efforts The efforts made to strengthen and consolidate it for the benefit of our peoples and the entire region.”

He said, "The Iraqi-Egyptian-Jordanian cooperation represents an important turning point in the region, which has been beset by tensions, crises and conflicts for long periods, in order to move towards establishing security, stability and economic cooperation and to rely on dialogue and convergence in solving problems in response to the common challenges facing everyone in combating terrorism and extremism, and strengthening partnerships. economic, commercial and employment opportunities for our peoples.

butterfly  Saleh stressed the importance of "strengthening the level of coordination between the three countries and benefiting from geographical interdependence in developing broader horizons of cooperation in the fields of economy, trade and development, and establishing infrastructure, energy and oil projects, as well as continuing efforts to confront existing challenges in the fight against terrorism and extremism, and the repercussions of the Corona epidemic." and climate change and environmental protection, and it was also stressed the need to continue meeting regularly to coordinate positions and enhance tripartite cooperation.

He also stressed that "a secure, stable and sovereign Iraq and its relations with its Arab brothers and its Islamic neighbourhood, and restoring its pivotal role is an important element in consolidating security, stability and development in the whole region, and pointing to the necessity of joint tripartite coordination in easing tensions, enhancing regional stability and finding solutions to current crises."

Sergio   I am here   It must have RVed I miss everything.

butterfly   Sergio hey there....how ya feeling?

Sergio  Chat room is moving so fast I can hardly keep up   Sergio   oh mom I made it

butterfly   LOL  Of you listen or read what the gurus say, we are on the steps of making a ton of money.    IF.....

Sergio   R I still here mom

butterfly   Sergio yup

Sergio okay seem I got cut off

Sergio   I heard nothing on the IQD

butterfly  NO one has BUT the gurus have that inner connection.......snarky I am being here.

Sergio   I did hear back in 2011 2012 we where going to be cashing in but were waiting on the tiers to go first

Dave  Sergio I am first in line!!!!

butterfly   Sergio Yup and they are using that same scenario these days.

Sergio  i think Okie said the plane was landing

butterfly October, then May, then end of June, now in November......If it weren't so sad, it would be laughable.

Sergio   Dan said he had a feeling it was about to happen back then

Sergio   butterfly Dave I have not been on any site for years

Dave have not missed much.......

Sergio   only reason I stopped by is because I got hurt and Butterfly said to stop by

Sergio  Dave They cut off my toe on Friday -  so I am laid up for the next 3 to 6 weeks. No Dave was jetting in pilling for my dock in the Delaware river and I fell on a rock and the jet hit my foot and all the bacteria from the river infected the bone in my toe

Sergio  Dave took the doctors 9 week to cut it off lol  the one right next to the big toe

Sergio so where is Zig?  Sergio  i text meatball a few times a year

Butterfly  Sergio remember sandyf? He stops in periodically.

butterfly  The IMF said they felt Iraq would be more "stable" in 2024.....to me that says and tells a lot.

Sergio How would the IMF know what 2024 is going to be like lol

Sergio   butterfly Have you heard from ninja?

butterfly The articles are totally different than when I was posting them years ago. They are reaching out to where .....no way would they want anyone be involved in their country.

Dave corruption.....

butterfly  Sergio No! but I remember him saying way back then, it would be in the 2020's before anything happening in Iraq.

Sergio  I think he said 2017

Dave  butterfly We now have the FSC......wipppy

Sergio  that was in 2012

butterfly   Federal Court..........in Iraq. Will there be corruption? One never knows. But the CBI said that the dinar rate is set for this budget year.

Dave   butterfly ??????   what budget?  lol

butterfly   Dave Have you been reading the articles?

Sergio  i talked to the one guy from Iraq who moved to Texas and he said it’s all one big mess over there and he has heard nothing. His visa is up soon and has to Re-apply

Dave  tied to those white papers.....

butterfly  Sergio Glad you are still in contact with him.

Dave  oil from those disputed territories.....who gets that share?

Sergio ya he is the only one I keep in contact with

Dave    Sergio best source.....

butterfly  https://gds.gov.iq/discussion-on-implementation-stages-of-the-white-paper/   ..............Discussion on implementation stages of the White Paper   18 Apr 2021 - 12:39 pm

Dave  Sergio hope he has reliable AC.....

Sergio Dave I had phone calls with every department you can think of back in the day

butterfly   Sergio yup I remember and I think that one guy's name was Dave.

Dave   Daves not here Man......

Sergio   all I can say is Iraq never was never traded on speculation with banks. Which did not stop the IQD from being 2.80 to our dollar and the only reason it dropped was because of the US got a hold of it

Dave   46C here,,,,,,,,yeesh!  Sergio hope they bring me a nickle........

Sergio   Dave one never knows

Dave  Sergio UN sanctions got a hold of Iraq and been spanking them ever since

Sergio   Dave they been over with for a long time

Dave   Sergio hmmmm....  not done with Kuwait yet....

Sergio  plus they got all the money that was being held up with the oil for food program

Sergio  they came to a agreement with Kuwait

Dave  Sergio still owe em 2 billion ish,,,,,,recent news

Dave  COI eyeing up 150 billion in frozen accounts   \usd....

Sergio  a billion here a billion there not going to change things. They are still not in the WTO which it’s been years that they should have already been a full member of.

Dave   Sergio need to be full members with the IMF.....Iraq yet to go global

Sergio  their money is global and is being used in trade

Dave  not happening at 1/15 of a cent

Dave  Sergio not at forex   not internationally tradeable

Sergio but it’s not being opened for speculative trade

Dave no banks handles IQD here

Sergio   Dave yes it is internationally traded

Dave   not here

Sergio Dave they are able to buy goods from all over the world with their currency

Dave  Sergio cant purchase or exchange at banks here

Sergio countries buy their good using the IQD

Dave  Sergio though CBI

Sergio  Dave each country has their own Trade bank. The IMF backs the IQD with credit and is backed up by the US dollar

Dave  Sergio I cannot exchange or purchase IQD at any bank in Canada

Sergio  iraq took a program rate from the IMF

Dave  nor can one exchange iqd at any forex kiosk

Sergio Dave a regular bank has nothing to do with the trade of currency unless that country deems the lower banks can.

Dave  Sergio I suppose banking in Canada is not regular

Sergio all that I am telling you came from David Briggs who was the person in charge of IRaq at the UN I have the emails from him.

Dave  wonder what other than oil does iraq export?  saffron?   thats expensive

Dave   UN sanction map LINK

Sergio  banks makes money off of currency speculation. IQD is not open for speculation it has never been. According to the person I talked with at the IMF each country sets their own currency rate. Iraq decided to go with a program rate in fear of their currency falling of the map because of the war

Dave   https://sanctionsmap.eu/#/main

Sergio  Thanks Dave I think I seen that before

Dave Sergio Banks make money from people opening up bank accounts/mortgages

Dave   fractional banking indexing

Dave  Sergio have more links if interested

Sergio Dave back in the day when the world had sanctions on Iraq their currency rate was set at 3.23 by Iraq and countries had to pay that rate to Iraq. The reason that iraq did that was to give the UN a kickback to try to get out of the sanctions

Dave sanctions ...no trade tanked the IQD...imo......

Sergio so if you research their currency has alway been in trade

Dave Sergio through CBi yep

Sergio yes thru the CBI  every county has a central bank … but no matter what we sit and wait till the dream come true

Dave   EU Canada Australias bank will not touch IQD  Nor will any International airports forex Kiosks   other than in Iraq....

Sergio  Total merchandise trade between Australia and Iraq in 2018 – 2019 was over $201 million. Historically, Australia's primary commercial interest in Iraq has been wheat, which it has exported to Iraq for over 50 years. Wheat was by far the largest Australian export to Iraq in 2018 - 2019, valued at $176.4 million.

Dave  dang and they require wheat imports.........

Sergio Trade and economic fact sheet

Containing general information, recent economic indicators, Australia’s trade and investment relationship with Iraq and their global merchandise trade relationship that is updated twice a year.

Dave  i read many starving marvins

Sergio lol  …  well peeps I am out for the rest of the day I’ll check back from time to time Dave was great to see and chat with ya

Dave  news from Iraqs agriculture seems grim.......

Dave   Sergio Stay well!  stay out of that River?????

butterfly  The General Company for Ports of Iraq received one of the formations of the Ministry of Transport "COYTE" in the southern port of Umm Qasr, loaded with (31,580 tons) of rice.

The company stated in a statement, "The mooring process took place on berth 3 in the southern port of Umm Qasr. Coordination and cooperation between maritime navigation and the port administration.

She indicated that the port of Umm Qasr will not stop the unloading and shipping work in it, despite the Friday and Saturday holidays and the Corona pandemic. / is over

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Zig’s Place Chatroom News Sunday 6-27-21

Zig’s Place Chatroom News Sunday 6-27-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

butterfly   Police Officers successfully Complete e-Learning Courses,,,,,,,,27th June 2021 in Iraq Education and Training News, Security,,,,,,,,,,,,,,,,,,First Iraqi police officers successfully complete UNDP's e-learning courses

"This is the most valuable and scientific learning and training course I have ever had in my career as a police officer, in policing in general, and homicide investigating and e-learning in particular, thanks to a dedicated team of UNDP professionals and efficient trainers, for explaining international experience, and simulating real life situations on the use of IT and forensic technology." says a participant describing UNDP's new e-learning platform.

Designed for the Iraqi local police to provide opportunities for training, career development and specialised education, the new UNDP-supported e-learning platform www.iqshorta.com offers easy access and enrolment to all police officers in Iraq and is the first initiative of its kind under the Government of Iraq's Ministry of Interior (MoI).

The platform provides courses on standard operating procedures for criminal investigations, homicide investigations, financial investigation techniques, and mid-level management. The courses complement existing offline courses on investigation for police officers such as homicides and suspect interviewing, also supported by UNDP.

The first police officers who completed the online courses were excited to share their stories. Here are some of their comments:

"Besides the iqshorta.com training platform, which I was first to register and pass, the way in which we were guided and tutored by UNDP brings the best out of every participant in terms of theory and practice."

"The platform for me is like a professional trainer, with excellent facilitation, easy registration steps, and a design that makes building and transferring knowledge very smooth."

butterfly  "There are many takeaways that I have acquired by the end of the course, none more so than [having received] an excellent file full of knowledge and references for streamlining our procedures of daily tasks that concern homicides, forensic science and DNA tracing."

"Unfortunately, we lack knowledge in the use of technology, especially IT. The user-friendly techniques, guidance and follow up by UNDP staff was an opportunity to me and my fellow officers to get acclimatised to the use of the [e-learning] platform, from which we can capitalize on our potential and hunger for learning to expand our knowledge."

This initiative is implemented through the UNDP Iraq Security Sector Reform and Rule of Law Programme, generously supported by Canada, Denmark, Germany, Japan, the Netherlands, and USA. This programme aims to strengthen security and justice sector governance in Iraq.   (Source: UNDP)

butterfly  Al-Maliki rejects the call to postpone the elections under the pretext of the instability of the security situation

Sunday 27 June 2021 15:08..............The head of the State of Law coalition, Nuri al-Maliki, rejected the call of some foreign parties to postpone the elections under the pretext of the instability of the security situation.

The media office of the head of the coalition said in a statement: "Al-Maliki met in his office today, Kuwait's ambassador to Iraq, Salem Ghasab Al-Zamanan. During the meeting, the future of bilateral relations and the overall political and security situation in the region and the world were discussed."

Al-Maliki stressed: "Iraq continues to strengthen its regional and Arab role, and is preparing to hold elections that will pave the way for the formation of a strong government capable of imposing the prestige of the state and meeting the demands of the citizen." Some foreign parties have called for the elections to be postponed under the pretext of the instability of the security situation.

In turn, the Kuwaiti ambassador affirmed his country's support for Iraq and its people in order to achieve development and stability, pointing to the importance of communication between the two brotherly countries.

butterfly   Iraqi warplanes escort Sisi's plane as it enters Iraqi airspace

Sunday 27 June 2021 16:29.............Iraqi warplanes escorted Egyptian President Abdel Fattah El-Sisi's plane as it entered Iraq's airspace today, Sunday, to welcome him, to participate in the tripartite summit that started today, Sunday in the capital, Baghdad, in the presence of Jordan's King Abdullah II and Prime Minister Mustafa Al-Kazemi.

butterfly   Al-Kazemi: The visit of Arab leaders to Iraq is an important message to our peoples that we are mutually supportive and complementary

Sunday 27 June 2021 16:37 ...............Prime Minister Mustafa Al-Kazemi affirmed that the visit of King Abdullah II and President Abdel Fattah Al-Sisi to Iraq is an important message to our peoples that we are mutually supportive and complementary.

In his opening speech to the tripartite summit, Al-Kazemi said: “I welcome my guests of Iraq, King Abdullah II and President Abdel Fattah Al-Sisi in Baghdad, the city of peace.

He added, "This visit takes place at a time and at a dangerous historical turning point in the region and all countries of the world, especially with the challenges of the Corona epidemic. It is no secret to anyone that the most important challenges we are facing are the Corona pandemic, the difficult economic conditions, security challenges and the fight against terrorism."

He stressed: "Iraq has gone through a harsh experience in the face of terrorism, and thank God, we succeeded in eliminating these groups, although some small pockets remain for these Kharijites, the Kharijites of the age. We must work and coordinate between our three countries to confront these challenges and work to dispel them in order to serve our peoples and the peoples of the region."

He pointed out: "Joint action requires consolidation and unification of positions in order to work on the path of development and the development of the region and its peoples. We hope to take advantage of all the possibilities available through geographical communication between the three countries in terms of economic fields, as well as in order to serve the social side in light of the delicate circumstances that The region is going through it.”

butterfly   2021-06-27 07:24  Shafaq News/ The Prime Minister's Adviser for Financial and Economic Affairs, Mazhar Muhammad Salih, ruled out setting a supplementary budget at the end of this year.

Salih told Shafaq News Agency, "During the past years, after the increase in oil prices, the government created a supplementary budget in which the budget was corrected by adding some projects and other things the country needs," noting that there will not be a supplementary budget under these circumstances, especially that there is an election year in November.

"Next year's budget is supposed to be set by the end of the current year", he added.

He hoped that the 2022 budget will be submitted, discussed, and approved by Parliament as soon as the elections are held and a new government is formed.

According to what was voted by the Iraqi Council of Ministers, early elections are scheduled to be held on the tenth of next October of this year.

Parliament and the government often fail to approve the budget before the end of the year due to political tensions between the blocs.

butterfly   2021-06-27 04:52  Shafaq News/ The Central Bank of Iraq (CBI) sales in the currency auction amounted to about $216 million today.

Shafaq News Agency correspondent reported that CBI sales settled at $228,560,634, %5.56 above Thursday's closure at $216,426,634. The weighted average rate of the U.S. dollar against the Iraqi dinar was specified at 1 to 1460.

Our correspondent explained that 17 banks and 11 companies cashed out $36.24 millions, while the $192,320,240 went to boost funds abroad in the form of non-cash and credit transactions, with 35 banks meeting those requests.

butterfly   Finance Minister: We are moving steadily towards maximizing non-oil revenues to support public budget resources

Sunday 27 June 2021 16:58,,,,,,,,,Minister of Finance, Ali Abdul-Amir Allawi, confirmed the continuation of efforts and work towards maximizing non-oil revenues and moving towards reducing the financial expenses borne by the state budget as a result of the burdens of financial support for public companies with high rates, which cast a shadow of negative effects on the development and development of the rest of the productive sectors .

Allawi chaired a follow-up session on the implementation of the projects of the white paper, in the presence of the advisor to the Prime Minister and the Executive Director of the Economic Reform Committee Alaa Al-Saadi, the Undersecretary, the advisors of the Minister of Finance and a number of general managers, in order to follow up on the implementation of the projects approved by the financial and economic reform plan, related to the axis of government expenditures, including the project to reduce the gap The public budget deficit is at safe levels.

In addition to discussing the public spending project and working towards directing it to enhance the investment aspect with positive returns for the benefit of the overall national economy, as well as studying government support for public companies and focusing support towards productive sectors and companies contributing to the gross domestic product.

butterfly   Al-Kazemi’s advisor rules out setting a supplementary budget and acknowledges the difficulty of approving the 2022

2021-06-27 03:52   Al-Kazemis advisor rules out setting a supplementary budget and acknowledges the difficulty of approving the 2022 budgetShafaq News/ The Prime Minister’s Adviser for Financial and Economic Affairs, Mazhar Muhammad Salih, ruled out on Sunday setting a supplementary budget at the end of this year.

Saleh told Shafaq News Agency, “During the past years, after the increase in oil prices, the government has created a supplementary budget in which the budget is corrected by adding some projects and other things that the country needs,” expecting that “there will not be a supplementary budget under these circumstances and with the presence of an election year in November.” “.

He added that “the next year’s budget is supposed to be 2022 by the end of this year,” wondering “how to solve this problem with the end of the parliament’s life.”

Saleh expressed his hope that “the 2022 budget will be presented and approved by Parliament, discussed and approved before it dissolves or as soon as the elections are successful and a new government is formed quickly and a new parliament will be presented by the Ministry of Finance to present the new budget to Parliament in the first or second legislative session of Parliament for discussion and approval quickly.”

Early elections are scheduled to be held on the tenth of next October of this year, according to the vote of the Iraqi Council of Ministers, and the House of Representatives voted to dissolve itself three days before the elections.

Parliament and the government often fail to approve the budget before the end of the year as a result of political tensions between the blocs.  shafaq.com

butterfly  A Kurdish deputy is likely to pass the oil and gas law during the next parliamentary session

2021-06-27 08:08   A Kurdish deputy is likely to pass the oil and gas law during the next parliamentary sessionShafaq News/ Kurdistan Democratic Party MP Dana Muhammad suggested on Sunday the approval of the oil and gas law during the electoral parliamentary session, returning it to “a solution to the oil disputes between the federal government and the Kurdistan Regional Government.”

Muhammad told Shafaq News Agency, “The disruption of the approval of the oil and gas law since 2007 until now is due to differences between all political forces, not certain forces or components,” noting that “it was not put on the parliament’s agenda over the past years because of the political disputes and disagreements over its provisions “.

Muhammad suggested, “the approval of the oil and gas law during the next parliamentary session for its importance in resolving the oil disputes between Baghdad and Erbil and determining the powers of the federal government and the powers of the region,” and considered it “an end to the long political debate between the federal government and the Kurdistan Regional Government.”

He added, “The adoption of the law will put the Iraqi parliament in permanent knowledge of the powers of the federal government and the regional government,” stressing that “the Kurds and the Kurdistan Democratic Party with the approval of the oil and gas law in a manner that suits the interest of the region and the federal government with regard to its details and provisions.”

Butterfly   The differences between the blocs and the parties over the past years have resulted in more than three formulations of the oil and gas law. The first has existed since 2007 and was rejected after the Kurdistan Alliance’s objection. As for the second version, it was developed in 2010, but the National Alliance expressed its objection to the law and withdrew from the voting session on the project. The third is a proposed law drawn up by the Parliamentary Oil and Energy Committee in 2011, but it was also rejected by various political parties. shafaq.com

butterfly  General Electric announces a plan to transform the energy sector in Iraq and end the electricity crisis

Sunday 27 June 2021 | 12:24 pm   General Electric announces a plan to transform the energy sector in Iraq and end the electricity crisisGeneral Electric announced, on Sunday, an integrated energy sector transformation plan, which includes a number of main pillars that support the Iraqi government’s goals to develop the infrastructure of the energy sector in the country, enhance decarbonization efforts and diversify energy generation sources to end the electricity crisis .

The company said in a statement, “The activities of the Iraq Reconstruction Conference were held in the capital, Baghdad, which is a high-level summit organized through close cooperation with the Prime Minister’s Office and the National Investment Commission in the country .”

“We have constantly focused on supporting and developing the energy infrastructure in Iraq using comprehensive solutions, from securing financing to advanced technologies, ” said Abdul Rahman Khalidi, chief technology officer of GE Gas Energy in the EMEA region, according to the statement .

“Therefore, it is of paramount importance today to stimulate efforts to shift towards cleaner energy systems that yield three main benefits to the country, from using diversified sources of energy to meet growing demand, fulfilling decarbonization commitments by exploiting more efficient gas and clean energy resources, to laying foundations A stable structure that delivers safe, reliable and cleaner energy in the future. These benefits shape the ambitious strategy of Iraq’s energy sector transformation plan and embody the most comprehensive approaches to the energy sector and cover all solutions that Iraq can benefit from .”

butterfly  Khalidi indicated that “the plan lays out a strategic set of solutions and technologies designed in a specially designed manner and supports the endeavors to decarbonize the energy sector, which is unique in Iraq, and starting from high-efficiency gas turbines holding world records and modernization solutions to fast and flexible air derivatives, the “General” team can Electric, which includes a group of local and international experts, transforming decarbonization efforts into a tangible achievement in Iraq.   aynaliraqnews.com

butterfly   A new drop in dollar exchange rates in Iraq

2021-06-27   A new drop in dollar exchange rates in IraqThe exchange rates of the dollar fell today, Sunday, against the Iraqi dinar in the main stock exchange in the capital, Baghdad, and the exchange shops.

Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad recorded 147,300 Iraqi dinars for every 100 US dollars, after it registered during its opening yesterday, Saturday morning, 147,375 Iraqi dinars for 100 dollars.

Selling prices in money exchange shops in the local markets in Baghdad decreased to 147,750 Iraqi dinars, while buying prices amounted to 146,750 dinars per 100 US dollars.

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