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TNT
Tishwash:
National Investment: Iraq is heading towards a big marathon
Chairman of the National Investment Commission, Haider Makiya, confirmed that Iraq is heading towards a major investment marathon for many projects, while he pointed out that funding from international institutions reduces the burden on the Ministry of Finance by granting loans for investment projects.
Makiya said, “We found many economic visions in the first edition of the Iraq Economic Forum,” noting that “the issue of the possibility of benefiting from the financing of international institutions known to the Central Bank was raised in order to ease the burden on the Ministry of Finance to grant loans and facilities to local investment projects or even foreign projects.”
He added, “It is necessary to seek external funding to finance investment projects, especially since Iraq is about to embark on a major investment marathon for many investment projects inside Iraq.” link
Al-Sudani: The Grand Faw Port is a step towards a new Iraq in the heart of the global economy
Prime Minister Mohammed Shia al-Sudani stressed, during his visit to the Grand Faw Port in Basra Governorate, that “the port represents a step towards a new Iraq in the heart of the global economy.”
Al-Sudani announced in a speech during the ceremony of receiving the five berths of the Grand Faw Port from the Korean company implementing the work, describing them as “the backbone of the Grand Faw Project.”
Al-Sudani pointed out that development and economic transformation are an “integrated approach,” stressing that “Iraq was and still is a fundamental pillar in the global economy,” and that “the path of development will be an artery linking most countries in the region.”
Al-Sudani also stressed that the government’s approach revolves around “insisting on the interests of the Iraqi people,” with a focus on “prosperity, providing job opportunities, and development windows as our work priorities.” link
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Central Bank of Iraq celebrates National Job Day
The Central Bank of Iraq organized a central celebration of the National Job Day by honoring a number of its creative employees with success stories that contributed to the development of work at the Central Bank of Iraq.
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, and the honorable Representative Dr. Ammar Hamad Khalaf, honored the employees who won the National Job Award, which was organized within the bank and in the presence of a representative of the Prime Minister’s Office, presenting them with the award shield, praising their efforts and contributions that enhanced the efficiency of the work of their departments and sections, which was reflected in the work of the Central Bank.
His Excellency urged all employees of the Central Bank to make their efforts to be present on the platforms of job success next year, pointing to the support and honoring of an important category of the bank’s employees in the Issuance and Treasury Department next year.
The Chairman of the National Job Day Committee, Dr. Alaa Jamal Abdul Redha, praised the efforts made to make the Job Day a success, indicating that today’s celebration is an extension of the ongoing efforts to create a platform to recognize job excellence and dedication in the public sector.
Central Bank of Iraq
Media Office
November 7, 2024 link
The Iraqi Council of Ministers approves a set of service, economic and urban decisions
The Council of Ministers, headed by Mohammed Shia Al-Sudani, issued today, Tuesday, during the forty-fifth regular session, a number of important decisions that fall within the government’s efforts to improve services and strengthen the economy and infrastructure in Iraq.
The Prime Minister’s media office said in a statement received by “Mawazine News”, that “Al-Sudani chaired the session, where the latest developments in the country were discussed and vital files that concern the priorities of the government program were discussed, in addition to considering the topics on the agenda and taking the necessary decisions regarding them.”
Decisions on the population census
As part of the council’s follow-up to the preparations for conducting the population census scheduled for November 20, the council approved a number of measures, the most important of which are:
1. Emphasizing commitment to Federal Court Decision No. (73/Federal/2010) regarding the general population census.
2. Conducting the census in the disputed areas by a joint team from the three nationalities (Arab, Kurdish, Turkmen) with the addition of a Christian individual in areas with a Christian majority.
3. Cooperation between the Statistics Authority and the Kurdistan Regional Statistics Authority with the Federal Ministry of Interior to compare the data of the ministries with the census results.
4. Allocating the general census results to the Federal Planning Council and the Ministry of Planning in the Kurdistan Region.
5. Commitment to organizing statistical tables on the numbers of deportees, arrivals and displaced persons.
6. Sending a technical team from the Kurdistan Regional Statistics Authority to the census operations room.
7. Immediately start training enumerators in preparation for the census.
Amending the Triennial Budget Law
The Council also approved a proposal to amend Article (12/Second/C) of the Triennial Budget Law No. (13 of 2023) to include several points related to compensating the Kurdistan Regional Government for the costs of oil production and transportation, as the costs of production and transportation will be calculated by an international technical advisory body.
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Developing the work of civil defense
In the framework of developing the work of civil defense, the Council approved allocating an amount of 25 billion dinars to the Ministry of Interior to establish 100 civil defense detachments in Baghdad and the governorates, and approved a direct contract with the Chinese company SANY to purchase 18 fire engines.
Supporting the educational and health sectors
In the field of supporting education, the Council of Ministers approved increasing the acceptance rate of top students from institute graduates from 10% to 20% for admission to universities. It also approved the establishment of institutes for higher health professions in several governorates.
Supporting the national industry
The Council approved providing a sovereign guarantee to establish a glass manufacturing plant in cooperation with lending banks, and also approved the inclusion of plastic granules in the customs fees decision.
Administrative reform and appointing officials
Within the framework of administrative reform, the Council approved the appointment of four general managers based on performance evaluation criteria. The Council also chose Islam Hassan Al-Saadi as the sixth member of the Board of Trustees of the Iraqi Media Network.
Completing stalled projects
in the field of infrastructure, the Council approved the establishment of a component for equipping medical devices and supplies within the emergency hospital project in Rania and increasing the cost of projects to demolish irregular buildings and build alternative schools.
Other decisions
The Council approved the draft law amending the fifth amendment to the Civil Aviation Law, amending the price of gas oil for the National Paralympic Committee’s wheels, and concluding lease contracts with the Independent High E*******l Commission.
These decisions are an important step towards enhancing public services and supporting the economy and infrastructure, and confirm the government’s commitment to achieving sustainable development in the country. link
Source: Dinar Recaps
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LouNDebNC:
Iran’s Currency Craters to Historic Low Following Trump’s Victory
Iran’s already ailing national currency cratered after Donald Trump’s e******n victory, heralding tough times for Tehran’s economy as the former president prepares for another term in the White House.
By Adam Kredo
Iran’s already ailing national currency cratered after Donald Trump’s e******n victory, heralding tough times for Tehran’s economy as the former president prepares for another term in the White House.
The Iranian rial traded at 703,000 to 1 American dollar early Wednesday, an all time low, before settling at 696,150 to a single dollar, according to the Associated Press. The steep drop signals fears in Iran that Trump will enter office prepared to level harsh new economic sanctions on the country—and enforce active ones—as punishment for its yearlong war on Israel.
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As the Iranian rial tanked, the American stock market surged, with the Dow Jones Industrial Average jumping more than 1,300 points to 45,557 as of mid-day trading. The Nasdaq grew by more than 430 points, hitting 18,875 in the afternoon.
During his first stint as president, Trump decimated Tehran’s economy with sanctions, ushering in a “maximum pressure” campaign that the Biden-Harris administration subsequently dismantled in a bid to entice Iran into a revamped version of the 2015 nuclear accord. Under the administration, Tehran was given access to upwards of $100 billion in cash resources, helping it arm a slew of regional terror proxies that have wreaked havoc on Israel and American military positions in the Middle East.
With Trump’s second term looming over Tehran, the country will have to make tough choices about its war on Israel. Iran has already promised a crushing response to Israel’s first direct attack last month but could decide to hold fire given Trump’s track record of support for the Jewish state. In 2020, Trump greenlit the assassination of Quds Force commander Qassem Soleimani.
Iran said Wednesday that it is not concerned by Trump’s e******n and saw both candidates as enemies.
“The e******n of the U.S. president has nothing to do with us. The general policies of the U.S. and Iran are constant,” Iran’s foreign ministry said in a statement. “It doesn’t matter who becomes the president in the United States because all the necessary planning has been made in advance.”
Tishwash:
Financial expert: The rise of the dollar is temporary and the economy is what determines its path
Financial expert and former director of the Central Bank of Iraq, Mahmoud Dagher, confirmed on Thursday that the rise of the dollar is temporary, and that the economic aspect is what determines its path, away from politics.
Dagher told Shafaq News Agency, “The dollar in local markets is affected by global markets if it rises, considering that the dollar is the same whether it is in Iraqi markets or global stock exchanges.
But what is important is the local currency being affected by it inside Iraq.”
He added, “The change that is currently taking place in the dollar is temporary and will soon return to its normal state after things stabilize,” indicating that “the economic aspect is what determines the value of the dollar against other currencies, not the political aspect.”
The dollar rose with Donald Trump’s victory in the US e*******s, which affected the decline in global oil prices link
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Source: Dinar Recaps
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