Fri. AM TNT News Articles 2-4-22



Brent” crude jumps above $92

Oil prices continued to rise today, Friday, and the price of “Brent” barrel rose above $92 a barrel for the first time since October 2014.

US West Texas Intermediate crude futures also rose 1.27% to $91.42 a barrel.

And Brent crude futures recorded 1.21% to $92.21 a barrel, according to Bloomberg website data.

The “OPEC +” grouping agreed yesterday, Wednesday, to stick to the monthly increases of 400,000 barrels per day in oil production, despite pressure from major consumers to increase production more quickly.

Tight global supplies and global political tension have boosted oil prices by about 15% since the beginning of the year. link

Source: Al-Rafidain will soon launch loans, advances and other banking facilities

An informed source revealed that the Rafidain Bank will soon launch loans, advances and other banking facilities.

The source told {Euphrates News} that “loans, advances and other banking facilities include employees and the general public  link

The Association of Iraqi Private Banks and the Federation of Egyptian Banks sign a memorandum of understanding to develop banking relations

The Iraqi Private Banks Association announced the signing of a memorandum of understanding with the Federation of Egyptian Banks to develop banking relations between the two countries.

The association said in a statement received by “Economy News”, that “today, a memorandum of understanding was signed with the Federation of Egyptian Banks, in the presence of the Governor of the Central Bank, Mostafa Ghaleb, and his Egyptian counterpart, Tariq Amer,” noting that “the memorandum aims to establish an effective partnership between the banking sector in the two countries at various banking levels.” “.

She added, “The president of the association, Wadih Al-Handal, signed the memorandum, in addition to the head of the Federation of Egyptian Banks, Mohamed Mahmoud Al-Etreby.”

The head of the Association of Banks said, according to the statement, “We are pleased with the close cooperation with the Federation of Egyptian Banks, which includes in its membership all banks operating in Egypt, which contributes to strengthening relations and partnership with Egyptian banks,” explaining that “the Iraqi banking sector is making great strides towards leadership, thanks to the policy of The Central Bank, which now requires openness to all banks in Arab and foreign countries.

Al-Handal pointed out that “the memorandum of understanding will also focus on establishing joint training programs that include qualifying banking cadres in the two countries, as well as establishing partnerships between Iraqi and Egyptian banks.”

For his part, the President of the Federation of Egyptian Banks, Mohamed Al-Etreby, expressed his happiness at signing the memorandum of understanding with the Association of Iraqi Private Banks.


Al-Kazemi’s advisor clarifies the most important tasks of the Financial Management Law

Today, Thursday, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, revealed the fate of salaries, pensions, and grants, with the delay in approving the general budget for the fiscal year 2022, while clarifying the most important tasks of the Financial Management Law.

Saleh said, “The effective financial management law is one of its first tasks to secure the actual current expenses with an average exchange base of 1/12,” noting that it is “an important mechanism guarantor of payments of a recurring, actual nature, specifically salaries, wages, government grants, pensions and social welfare without stopping, even if the approval of the budget is delayed. “

He added, “The adoption of the Federal General Budget Law for the year 2022 is a fundamental goal in planning economic policy and its essential pillar, as it is linked to the issue of growth in the economy.”

He pointed out that “the budget has an important function, which is to ensure the achievement of a prosperous level of GDP that exceeds the annual population growth, and this can only be achieved by advancing the added or new production capacities approved by the investment budget towards income-generating and employment projects.”   link

Source: Dinar Recaps


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