Bond Lady’s Corner Iraqi News Articles 8-1-21


Iraqi News Sunday AM 8-1-21

TLM724 Administrator BondLady’s Corner

The appearance of Mohammed Saleh to / NINA /: The Improvement In Revenues .. Will Strengthen The Local Currency And Bring About Structural Changes In The Growth Of The National Economy

Sunday 01 August 2021 11:13 | Economic Number of readings: 388    Baghdad / NINA / – Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed that: The improvement in revenues will strengthen the local currency and bring about structural changes in the growth of the national economy.

He told the National Iraqi News Agency ( NINA ) that: the continuous improvement in the revenues of the federal general budget will, at the same time, provide sustainability for the data of that budget, leading to structural changes in the growth of the national economy.

Saleh added that: this improvement will be a continuous and positive thing in the non-oil GDP and achieve a higher level of economic stability in general.

It is noteworthy that international oil prices, especially the price of Basra oil, witnessed a remarkable improvement during the last period, exceeding 70 dollars, which will lead to closing the budget deficit and raising the level of the economic and financial sector in the country./End

The Central Bank’s Hard Currency Sales Exceed $230 Million

Economie| 02:53 – 01/08/2021   Baghdad – Mawazine News  The Central Bank of Iraq recorded, today, Sunday, a significant increase in its sales of hard currency.

And the Central Bank auction for the sale and purchase of foreign currencies, today, witnessed an increase in its sales by 14.85% to reach 232 million and 925 thousand and 290 dollars.

The purchases amounting to 176 million and 705 thousand and 290 dollars went to enhance balances abroad in the form of remittances and credits, while the remaining amount of 56 million and 220 thousand dollars went in cash. Ended 29/A 4

The Stability Of Exchange Rates In The Stock Market

Local  currencies    Market  Economy News – Baghdad   The dollar exchange rates witnessed stability for the third consecutive day in the local markets.   The stock market recorded the prices as follows:

The selling price of the dollar: 148.000 dinars per 100 dollars.   Dollar purchase price: 147.500 dinars per $100.

Views 95 Date added 01/08/2021

The Fluctuation Of The Weekly Indicators Of The Iraqi Stock Exchange

 Iraq Stock Exchange   Market   Economy News – Baghdad    The Iraqi Stock Exchange (the Stock Exchange) traded 1 billion shares, with a value of 2 billion dinars, during the past week.

The number of shares traded increased by 0.74% compared to the previous week, while the value of traded shares decreased by 3.74% compared to the previous week.  Also, during the week, 1526 deals were executed.   Views 5 Date Added 01/08/2021

Iraq Drops One Rank In The List Of The Largest Gold Reserves In The World

Economie| 09:29 – 01/08/2021    Follow-up – Mawazine News   The World Gold Council announced, on Sunday, that Iraq has fallen one rank among the world’s reserves of the precious metal, indicating that Japan bought the largest amount during the first quarter of this year.

The council said in its latest schedule for the month of August of 2021, which was reviewed by Mawazine News, that “Iraq sold 100 kilos of gold, and its possession became 96.3 tons, after it was 96.4 tons, which represents 9.1% of the rest of its other reserves.”

He added, “Iraq has not bought gold since September of 2020, when it bought a small amount of 0.1 tons, while it bought 6.5 tons in September 2018.”

He explained that “Iraq fell one rank to become 39th globally out of 100 countries listed in the table with the largest gold reserves in the world,” noting that “Brazil was able to purchase 41 tons during the past month, to raise its rank from 42 to 32 globally.”

He pointed out that “the United States of America still ranks first in the world’s largest gold reserves with 8,133 thousand tons, followed by Germany with 3,359 thousand tons, while Yemen was at the bottom with 1.6 tons, preceded by Haiti by 1.8 tons.” Ended 29/A 4

Legal Expert: Parliament Is In “Unannounced” Legislative Recess

Sunday 01 August 2021   232   Baghdad: Shaima Rashid   The legal expert, Tariq Harb, explained that the parliament sessions have not been held yet, because the parliament is enjoying its legislative recess (although it has not been announced).

Harb said in an interview with “Al-Sabah”: “Parliament began its recess on the third of last July and ends on the third of next September, meaning that Parliament is now in the period of parliamentary recess, and then the fourth year begins, and these are constitutional dates that cannot be manipulated.”

He added: “Parliament can hold sessions for it if there is an emergency, or if the speaker of parliament or a number of deputies requests that, provided that the sessions are held for an emergency matter only, and they are not entitled to set an agenda during the legislative recess, but rather the invitation to the session is determined during Holiday”.   LINK 

Al-Zubaidi Calls For Benefiting From Oil Revenues, Outlets And High Taxes To Raise The Value Of The Local Currency

Sunday 01, August 2021 11:20 | Economic  Number of readings: 300

Baghdad / NINA / – The independent candidate, Thaer Munir Al-Zubaidi, demanded to take advantage of oil revenues, outlets and high taxes to raise the value of the local currency.

He said in a press statement that: The large revenues from the rise in oil prices, border crossings, taxes and others require the government and its concerned parties to consider the value of the local currency and work to raise it against other foreign currencies.

Al-Zubaidi added that: what the local market witnessed of a great increase in commodities, especially basic ones, which was the result of the devaluation of the local currency, had a clear impact on the livelihood of citizens, especially those with limited income, whose suffering increased.

He stressed the importance of making the most of the increase in revenues to end the deficit and raise the value of the local currency, which lifts the financial and economic reality from its current conditions to a new reality that serves the people of the country in general. /

Oil Prices Rise, Brent Approaches $77 A Barrel

Economie| 11:02 – 01/08/2021  Follow-up – Mawazine News : Today, Sunday, oil prices rose, with demand growing at a faster pace than supply.

Brent crude futures for September delivery, which expired, jumped 28 cents, or 0.4 percent, to settle at $76.33 a barrel, while the October contract closed up 31 cents, to reach $75.41 a barrel.

US West Texas Intermediate crude contracts rose 33 cents, or 0.5 percent, to close the session at $73.95 a barrel. Ended 29/A 4

Source: Dinar Recaps

More Iraqi News Sunday PM 8-1-21

TLM724 Administrator BondLady’s Corner

Oil Announces Iraq’s Oil Exports And Revenue In July

Energy   Economy News – Baghdad   The Ministry of Oil announced, on Sunday, the total exports and revenues achieved for the month of July.

The ministry said in a statistic seen by “Economy News”, that the exported quantities of crude oil amounted to “(90) million (467) thousand and (794) barrels, with revenues amounting to (6) billion (513) million and (792) thousand dollars. “.

The statistics indicated that the total exported quantities of crude oil for the month of July from oil fields in central and southern Iraq amounted to (87) million (455) thousand and (359) barrels, while from Kirkuk fields through Ceyhan port, the exported quantities amounted to (3) One million (12) thousand (435) barrels.

The average daily exports amounted to (2) million and (918) thousand barrels, while the average price per barrel amounted to (72.001) dollars, according to the statistics.

Views 64 Date Added 01/08/2021

Planning: A Sharp Decline In Imports Over The Past Year

Money  and business  Economy News – Baghdad  On Sunday, the Ministry of Planning announced a sharp decline in imports over the past year.

In a statement received by Al-Iqtisad News, the ministry’s spokesman, Abdul-Zahra Al-Hindawi, said that “the report prepared by the Central Statistics Agency showed that the total imports for the year 2020 of commodity materials and oil products amounted to $15.4 billion, equivalent to (18.4) trillion dinars. Iraqi, recording a decrease of (25.9%) compared to the year 2019 as it amounted to (29.9) billion dollars, equivalent to (24.Cool trillion Iraqi dinars.

He added that “the percentage of decline compared to 2018 amounted to (58 percent), as it amounted to (37) billion dollars, which is equivalent to (43.Cool trillion Iraqi dinars.”

And he indicated that “the Corona epidemic started since the end of 2019, while the total imports of non-oil commodities for the year 2020 amounted to (13.Cool billion dollars, equivalent to (16.5) trillion Iraqi dinars, recording a decrease of (23.2%) from the year 2019 where it amounted to ( 18.1) billion dollars, equivalent to (21.5) trillion Iraqi dinars, at the current exchange rate of the customs declaration.

Al-Hindawi added that “the total imports for the year 2020 of oil products amounted to (1.6) billion dollars, equivalent to (1.9 trillion) Iraqi dinars, with a decrease of (43.3%) compared to the year 2019 where it amounted to (2.Cool billion dollars, equivalent to (3.3) trillion dinars. Iraqi”.

Views 65 Date Added 01/08/2021

The Housing Fund Announces An Increase In Its Capital To 4 Trillion Dinars

Money  and business   Economy News – Baghdad   The Director of the Housing Fund, Dia Mujd, revealed that Prime Minister Mustafa Al-Kazemi agreed to increase the capital of the fund to 4 trillion dinars, while the director of the fund called on citizens who wish to apply for loans starting today, Sunday.

And the director of the fund said, in an interview with the official “Al-Sabah” newspaper and seen by “Al-Iqtisad News”, that “Al-Kazemi’s government supported the fund exceptionally and significantly, on the one hand, and directed to facilitate procedures for granting loans to citizens, providing service to them and overcoming the obstacles they face on the other hand.”

He pointed out that “this support is part of the government’s efforts to solve the housing crisis by granting interest-free loans away from routine.”

He added, “This support was translated into a number of measures, most notably extending the loan repayment period from 10 years to 20 years with an increase in the loan amount from 50 to 75 million dinars, and Al-Kazemi agreed to increase the capital of the fund from 1 trillion to 4 trillion dinars,” explaining “This huge amount will be fully loaned, as it will be a strong start to resolving the housing crisis, especially since the housing sector moves more than 25 sectors.”

He pointed out that “the Fund will start launching its loans today, Sunday, with open quotas and large numbers that differ from the previous ones, and the Minister of Construction, Housing and Municipalities, Nazanin Muhammad Wassou, directed to facilitate the procedures, and instructed all the departments of the ministry to support the Fund and the speed of correspondence, in order to provide the best services to borrowers,” calling Citizens to “apply via the website through a mobile phone or personal computer, and not to resort to offices.”

Regarding the terms of the loans, the director of the Housing Fund explained that they are “granted to build or add a building and to all citizens without exception on the condition of the sponsor, but employees whose salaries are domiciled do not need a sponsor”

He explained that “the borrowing transaction requires a real estate deed of form (25), with a map of fixing the borders, a complete block, stamped by the Real Estate Registration Department, in addition to an original valid building permit with the building map, provided that the area is not less than 100 m and the area of the housing unit is not less than 65 m. As well as undertaking the sponsor’s department and bringing personal documents to him.

He pointed out that “the Fund has loaned, since the beginning of this year, more than 13,000 loans, amounting to 371 billion and 802 million dinars, especially since the number of loans granted since the beginning of the Fund’s work so far has reached 146 thousand loans, with an amount exceeding 3 trillion and 970 billion dinars.” Noting that “the fund aspires to expand the lending base further.”

And regarding the mechanisms for paying loan installments by citizens, he explained that “the guarantor is the real guarantor of the loan amount. For a period of 6 months for those who wish, without any late fines.

With regard to the amendments to the Housing Fund Law, Mujd stated, “The amendments we desire are to allow sponsorship and insurance companies to sponsor citizens, and to facilitate some procedures,” noting that “the Housing Fund is currently ready to implement the electronic governance system, but some government departments are unable and unwilling to ready for now.”

Views 124 Date Added 01/08/2021

Securities: We Adopt A “Custodian” To Promote Foreign Investments

Sunday 01 August 2021  99   Baghdad: Hussein Thaghb  The Chairman of the Securities Commission, Faisal Al-Haymes, confirmed the Commission’s focus on the custodian system, which raises the levels of transparency and enhances foreign investments in the Iraqi stock market, pointing out that “foreign investments cannot be promoted through intermediaries and away from this internationally approved advanced system.”

He said, “Expanding the scope of investment in securities represents a lofty goal for the authority, which made work in more than one direction in order to activate the reality of trading, as the last period witnessed the return of several companies suspended to trading, and we are working to return other companies, after we put in place mechanisms that guarantee the rights of Investors and the market activity has actually been enhanced.”

Right Decision

He pointed out that «investors in the stock market, should see the data of the joint-stock company, to then take the appropriate decision to invest or not, in order to have a clear picture of the nature and mechanisms of work and future plans, and the percentages of profits achieved, as we strive to be safe and reassuring trading. to the investor.

Trading Period

And he indicated that “the trading hours were extended to four o’clock after it ended at 12 noon, as the trading period was extended two days a week, and after an increase in trading spread, a decision was made to invest from Sunday to Thursday in a move that allows the largest number of people to trade. of investors in the stock market.

He said: “The Authority called on the Arab Securities Commission to hold the next meeting in Baghdad, and the invitation was accepted by the Federation of the Arab Securities Commission, to be organized during the year 2023.”

Illegal Investment

He pointed out that “local sums of money are invested illegally by companies called (forex) and a committee was formed under our chairmanship after discussing the issue with the General Secretariat of the Council of Ministers, with the membership of the Central Bank, the security authorities and a number of companies, to follow up on this matter, which puts large capitals at risk due to illegality. This trend, and far from guarantees provided to the investor that his money is directed to invest legally».

He revealed the authority’s tendency to establish cooperation with the World Financial Syndicate in the field of training and transfer of expertise to international brokers in the financial markets, to obtain new skills that enhance the relationship with the community and convey the image of trading and its objectives and the benefit achieved from that.

Serious Movement

To that, the economic affairs specialist, Mustafa Muhammad Ibrahim, stated that “the reality of trading in the stock market represents the extent of the activity of the national economy, and despite the challenges that Iraq and the world have witnessed in recent years and the decline that all international economies have indicated, we find in Iraq that there is a serious movement to activate the reality Trading by increasing the trading hours, which allowed new categories to enter the trading movement.”

He pointed out that “the Iraqi Stock Exchange can be described as promising because there is a large volume of work, and a serious desire to move the joints of the national economy.”   LINK

Integrity Develops A New Anti-Corruption Strategy

Sunday 01 August 2021  258   Baghdad: Nassar al-Hajj   The Integrity Commission has developed a new strategy to combat corruption, indicating that its main purpose is to raise the level of integrity and achieve a tangible decline in corruption.

The authority’s media center explained, to “NAI”, that “the strategy will adopt the national indicators (the National Integrity Index, the National Corruption Risks Index, and other national indicators) under unified institutional mechanisms to monitor and diagnose corruption phenomena, and follow up the efforts of the executive bodies in analyzing the causes of external phenomena and phenomena. of its emergence, and the efforts of the Federal Integrity Commission in following up and measuring the progress made in treatment according to the nature of the phenomena.     LINK

Al-Araji And Tueller Discuss Ending The Presence Of Combat Force In Iraq

Sunday 01 August 2021   206   Baghdad: morning   National Security Adviser Qassem Al-Araji discussed with the US ambassador in Baghdad, Matthew Tueller, the follow-up to ending the presence of combat force in Iraq.

A statement by the chancellery stated that Al-Araji met, yesterday, Saturday, with the US ambassador and the commander of the international coalition in charge of following up on ending the presence of any combat force in Iraq, General Calvert. During the meeting, they talked about the outcomes of the Prime Minister’s visit and the technical delegation to Washington, as well as discussing the political situation and security and the security of the upcoming elections.

Al-Araji stressed that the visit of the Prime Minister and the technical delegation to Washington was successful by the standards of the state and national sovereignty, and it achieved important outputs that benefit Iraq and its people with more security and stability.

For his part, the US ambassador indicated that General Calvert was informed of the follow-up to the outputs of the technical agreement to end the presence of any combat force by

12/31/2021, as well as continuing to provide assistance and support to Iraq in fighting ISIS at the present time, while General Calvert affirmed readiness to provide support as needed, for joint operations after its hiatus. The US ambassador also stressed that his country welcomes any diplomatic effort that leads to restoring normal relations with Iran, pointing to Washington’s unwillingness to escalate with Tehran, especially in Iraq. LINK

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Source: Dinar Recaps


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