Mon. AM TNT News Articles 10-18-21



Iraq and the UAE sign the investment promotion and protection agreement

Today, Monday, the Iraqi and Emirati governments signed an agreement to encourage and protect investment.
The official media stated, “Iraq today signed an agreement to encourage and protect investment with the UAE at the headquarters of the UAE Ministry of Finance in Abu Dhabi.”

He added, “The agreement was signed on the Iraqi side by the head of the Investment Authority, Suha Al-Najjar, and on the Emirati side, the Undersecretary of the Ministry of Finance Younis Haji Al-Khoury.”

He stressed, “The signing ceremony was attended by the Ambassador of the Republic of Iraq to the UAE, Muzaffar Mustafa Al-Jubouri,” noting that “the agreement can facilitate investment and economic cooperation between the two countries.”    link

Oil expert: Iraq will enter one billion dollars annually if the price of oil increases by one dollar

The oil expert, Hamza Al-Jawahiri, announced that the increase in the price of a barrel of oil by one dollar will increase the state treasury by one billion dollars annually.

Al-Jawahiri said that the current rise in oil prices is due to the OPEC Plus agreement, which led to a reduction in production and exports, in addition to a rise in gas prices.

He added that the Iraqi state treasury will increase after the increase in oil prices, and that every dollar will contribute to the entry of one billion dollars annually, calling for the money to increase oil prices to go to development funds    link

Oil prices rise to their highest levels in years, and Brent touches the 86 dollars


Oil prices recorded their highest levels in years on Monday, with demand continuing to recover from the Covid-19 epidemic, supported by the rise in exorbitant gas and coal prices.

Brent crude futures rose 93 cents, or 1%, to $85.78 a barrel by 05:11 GMT, the highest price since October 2018.

US West Texas Intermediate crude futures rose $1.12, or 1.4 percent, to $83.49 a barrel, the highest since October 2014.

Both contracts rose at least 3% last week.

“Easing restrictions around the world is likely to help fuel consumption recovery,” analysts from ANZ Bank said in a note on Monday. 

They added that the switch from gas to oil for power generation alone could boost demand by up to 450,000 barrels per day in the fourth quarter.

However, supply may also increase from the US, where energy companies last week added oil and natural gas rigs for the sixth consecutive week as higher crude oil prices pushed drillers back to the rig.



Parliament prepares for the ‘swearing in’ session of new deputies

The General Secretariat of the House of Representatives discussed, on Sunday, preparations for holding the constitutional swearing-in session.  

And the media department of the Council stated in a statement, of which “Nass” received a copy, (17 October 2021), that “the General Secretariat of the House of Representatives held a meeting today, headed by the Secretary-General of the House of Representatives, Sirwan Abdullah Serini, in the presence of Mr. Sadiq Jumaa Hamid, Deputy Secretary-General for Administrative and Financial Affairs and Muhammad Hani Al-Badrani, Deputy Secretary-General for Parliamentary Affairs.  

The meeting discussed, according to the statement, which was attended by the general managers of the council’s general secretariat, “technical and logistical preparations for holding the swearing-in session for the fifth electoral cycle.”  

The attendees discussed “the plans and mechanisms of holding the first session, which is scheduled to be held after the approval of the Federal Supreme Court on the names of the winning candidates in the elections.”  link

Source: Dinar Recaps


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