The government approves the addition of 46 billion dinars to balance the General Secretariat of the Council of Ministers

Logo of the Secretariat of the Council of Ministers «Economy News»

money and business

Economy News Baghdad:

The Secretary-General of the Council of Ministers, Mahdi Al-Alaq, that the government agreed to add 46 billion dinars to the budget of the Secretariat of the Council of Ministers.

“Secretary-General of the Council of Ministers, Dr. Mahdi Al-Alak, presided over the first meeting of the International Stabilization Support Group (ISF) and the supporting parties for the projects of restoring stability and reconstruction in the liberated areas,” the Cabinet Secretariat said in a press release.

According to the statement, Al-Alaq stressed readiness of the General Secretariat to communicate with the United Nations program to support and finance projects to restore stability jointly, after the approval of the government to transfer the amount of contribution (46) billion Iraqi dinars added to the budget of the Secretariat.


Sale of heavy Basra oil at a high premium

Release date: 2019/2/20 11:53

The National Oil Marketing Company (SOMO) sold 1 million barrels of Basra heavy crude for loading March 27-31 at a higher premium than the previous bid, trade sources said on Wednesday.

The shipment was sold to China Oil at a premium of $ 1.40-1.50 per barrel above the official sale price of crude to Asia, the sources said.

The sources said that Sumo did not allocate any amount of Basra heavy crude to the owners of technical service contracts and that means that no company, except Sumo, shipments resold in the spot market.

US sanctions on Iran, Venezuela and production cuts by the Organization of the Petroleum Exporting Countries (OPEC) have also caused a shortage of heavy crude supplies worldwide.

In the previous tender, Sumo sold 2 million barrels of Basra heavy crude for March to SK Energy at a premium of $ 1.10 a barrel above the official sale price of crude to Asia.,15700022,15700124,15700126,15700186,15700190,15700201,15700237,15700242,15700248&usg=ALkJrhjntgWAZsxy34IgfX_yR6ny82IgRQ

Agreement with the European Union to finance Iraqi development projects

Part of the signing of the agreement.

money and business

Economy News Baghdad

The Minister of Planning, Nouri Sabah al-Dulaimi, signed an agreement with the European Union Ambassador to Iraq, Ramón Belquois, to finance economic and social development projects in the amount of € 41.5 million, which will be implemented by the United Nations programs in Iraq. Local.

“The aim of these meetings is to find quick practical solutions and to show the optimal investment potential for international efforts to support the work of local governments and central government stakeholders,” Dulaimi told a joint news conference with Ambassador Blakwa and Basra Governor As’ad al-Eidani.

He pointed out that “the ministry will work with the international community and stakeholders in service ministries to launch several vital projects in the provinces of Iraq,” referring to “the efforts that the Ministry will continue to implement in cooperation with the local government of Basra, to rehabilitate the projects of the province, Projects with advanced achievement ratios “.

Al-Dulaimi said during the meeting, which was attended by the Director of the United Nations Development Program (UNDP) in Iraq, Gerardo Noto, that “this agreement will strengthen the Ministry’s development plans in the liberated areas, and urban areas in the provinces of Basra and Nineveh, and provide basic services to them, These will be implemented through the United Nations Educational, Scientific and Cultural Organization (UNESCO). The organization will reconstruct buildings of historic and cultural importance, revitalize the old cities of Nineveh and Basra, restore life to these cities and provide jobs for their children. Support for the voluntary return of displaced people, job creation and improvement of services. The third section will be implemented with local and international cooperation to provide technical and financial support to youth projects and to provide a suitable environment for launching Pilot projects “.

Kuwaiti Trade Minister arrives in Iraq to discuss establishment of free trade zone

money and business

Economy News _ Baghdad

The Minister of Commerce and Industry and Minister of State for Services of Kuwait arrived in Baghdad on Wednesday heading an official delegation on a two-day visit to discuss the establishment of a free trade zone and the signing of an agreement.
The Kuwaiti Ministry of Commerce said in a press statement read by “Economy News” that the Minister Khalid Al-Roudhan will meet during his visit to Iraqi President Barham Salih, Prime Minister Adel Abdul-Mahdi and Parliament Speaker Mohamed Halbusi.
It will also hold an open meeting with several Iraqi bodies such as the Ministry of Foreign Affairs, Transport, Industry and Minerals, the Central Bank of Iraq, the General Authority for Border Ports, the National Investment Authority, the Fund for the Reconstruction of the Affected Areas and the General Administration of Customs.
Al-Roudhan will meet with his Iraqi counterpart Mohammed Al-Ani and will hold a meeting with the Union of Chambers, the Federation of Industries, the Federation of Businessmen, the National Business Council and the Economic Council to discuss means of developing trade relations between the two countries.
The minister is accompanied by an official delegation comprising representatives of several governmental bodies including the Public Authority for Industry, the Direct Investment Promotion Authority, the Competition Protection Authority, the Kuwait Ports Corporation, the General Administration of Customs and the Ministry of Foreign Affairs.
The delegation also includes representatives from the World Bank, the Chamber of Commerce and Industry, the General Authority for Investment, the Kuwait Fund for Development, the General Administration of Ports, the General Authority for Roads and Land Transport, and the Silk Development Agency.

Directing the project of the new building of the Central Bank

The new building of the Central Bank of Iraq.


Economy Baghdad News

The implementing company of the project of the building of the Central Bank of Iraq actual preparations for the construction of the first part of the base structure of the new building in Baghdad designed by the late Iraqi architect Zaha Hadid.

The base, made up of steel and high-quality cement, is needed to build the 37-storey tallest tower under construction in Iraq, 170 meters high. The building overlooking the Tigris River in the Jadriya area includes gold and silver vaults, offices, conference and meeting rooms, a museum, a ceremonial area, car parks and green spaces, and a monument to the Iron Architecture in honor of it.

The project is being implemented by a global company, executed by the Flame Towers and the Heydar Aliyev Center in the Azerbaijani capital of Baku. The contract with the company is worth $ 800 million and the design cost is $ 70 million.

the US Embassy: We brought 50 investment companies to Iraq

Twilight News

one hour ago

The US embassy in Baghdad has brought about 50 investment companies to Iraq, the acting US embassy in Baghdad said on Wednesday.

“Together with the international coalition, we have equipped and trained more than 190,000 Iraqi troops,” said Hood at a conference at the Fourth International Congress Against Struggle Media in Baghdad.

“The people need jobs, and we encourage job opportunities. The embassy has brought more than 50 companies to know about work in Iraq,” he said, adding that “a secure and stable Iraq is in the interest of the United States.”


Araji reveals the corruption of the Central Bank and the reason for not participating in the elections (expanded)

Editorial date: 2019/2/20 0:35 
(Baghdad: al-Furat News) Former Deputy Prime Minister Bahaa al-Araji revealed corruption in the Central Bank of Iraq.
“The former central bank governor Sinan Shabibi financial figure lost by Iraq and because of his differences with the former Prime Minister Nuri al-Maliki accused of files corruption and had a deliberate intention to get him because he stopped the ambitions of political blocs.” 
And, that “the problem of the auction of the old old new and previously obtained from banks belonging to the parties or held by blocks and today became the number of these banks was more than 3 years ago 24 banks and today rose to 79 banks because of the currency auction. 
“He pointed out that” Maliki accused Sabah al-Saadi on corruption charges in the Central Bank, “pointing out that” the current central bank exhausted the Iraqi economy details and documents and documents, “pointing out that” corruption files are still reserved and will open soon, “noting that” corruption today more but less money ” .
“All the problems of Iraq are personal, which did not produce a united position and a single resolution,” Araji said. “The national coalition was stronger under the leadership of Mr. Abdul Aziz al-Hakim.” 
The former leader of the Sadrist movement, “I wish the relationship would remain good with Mr. Moqtada al-Sadr, but some of the problems that entered with the current and Mr. Sadr, and my successor was not with his person but with the footnote, but we have reached a stage of many interventions and my interest not to continue this position” . 
“There were many demands from the footnote, some of them economic, social and personal when I was deputy prime minister, and I was rejecting it and I was honored with Muqtada al-Sadr, but it reflected on the street that I was a victim.”
Al-Araji explained that “the obedience of Gatt with great differences with large political blocs,” noting that “the strike Bahaa al-Araji means hitting Mr. Moqtada and used websites against the Sadrist movement and against me.” 
He pointed out that “the procedure of Mr. Moqtada al-Sadr my desire to raise the current and remained good relationship with him, but not fair so far,” noting that “the Sadrist leaders knew Sadr and not their names.” 
He explained that “all the masses of the parties change only the Sadrists and the growing public, but the proportion of adults does not exceed the year 10%,” noting that “the Sadrists are steadily increasing and is the resolution of seats are going.” 
“After his resignation from the previous government, no one has been isolated for more than a year,” al-Araji said.
“He disagreed with Maliki on the electoral number and was nominated in the elections on the list of national and became a change in names because of political pressure on the President of the coalition Iyad Allawi not to enter the elections and withdrew.” 
He stressed that “he did not support the break-in of the House of Representatives because it reduces the prestige of the state,” noting that “his position” positive from Prime Minister Adel Abdul-Mahdi, but I have doubts about his cabinet cabinet. 
“The mother of” the Supreme Council to fight Safad a positive step but did not transfer his mission to citizens, About the salon and the prosecution must be part of the Council. ” 
On his political future, Araji said that” I found an opportunity to run in the next election I will go independent. “