Iraq and Kuwait are demarcating the border oil areas


 Economical  23/12/2018  209

Iraq and Kuwait are demarcating the border oil areas

Oil Minister Thamer Ghadhban announced that Baghdad and Kuwait reached during the recent meeting in Turkey to appoint a consultant to demarcate the border oil areas between the two countries.

Al-Ghadhban said in a press statement; on the sidelines of the meeting of oil ministers, “OAPEC” in Kuwait; “The consultant will study the two areas adjacent to the border between them;

The minister did not specify the name of the consulting firm;

Turning to efforts to stabilize oil markets; he said: “We believe that the decision (OPEC) and outside producers to reduce production by 1.2 million barrels per day, will adjust the market situation and withdraw most of the surplus.”

Crude oil prices are at their lowest level in more than a year, due to fears of oversupply, after the recent increase in production by major producers such as the United States, Russia, Saudi Arabia, Iraq and the UAE.

The 101st meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) kicked off in Kuwait.,15700021,15700043,15700186,15700191,15700253,15700256,15700259&usg=ALkJrhg6Z-ug5HdXP3cZsQag41mgijuwzw

Directed to re-work coin


2019-08-18 | 23:47

The member of the Finance Committee, Hanin al-Qadu, Monday, that the use of metal categories and lowered for trading gives a notional value of the currency.

He said in a statement to the official newspaper Al- Sabah, as “during the meetings and discussions with officials of the Central Bank stressed the need to re – work metal currency which was used in Iraq during the past decades, instead of paper , which is damaged and printed in large quantities again.”

He added, “The use of metal categories and their descent for trading gives a notional value to the currency.” He pointed out that “a number of neighboring countries – their exchange rates are very high against the dollar – yet we find that they have a coin in order to preserve the currency and not need to ask for more papers. Cash, especially in small categories. ”

Al-Qadu expressed his surprise at the “policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market

The provincial government announced its willingness to deposit the price of 250 thousand barrels of oil per day with Baghdad

3 hours ago Iraq

Gottiard just

The Kurdistan Regional Government (KRG) announced on Monday, August 19, 2019, the continuation of the payment of salaries of its employees on fixed monthly dates.

“Baghdad and Erbil agree to solve the outstanding problems, especially the oil and financial files, article 140 of the constitution, and several other files in the interest of both sides,” provincial government spokesman Gottiar Adel told a news conference. Problems. ”

Adel added that “according to the law of the financial budget for 2019, which set 12% share for the Kurdistan region, 12 trillion and 800 billion dinars, but Baghdad did not send only 452 billion dinars until the eighth month and thus is deducted 7.39 trillion Iraqi dinars,” stressing that ” “The provincial government has good intentions to reach an agreement with Baghdad, but will not give up its rights and optimistic about reaching an agreement.”

Adel said that “Baghdad sends the salaries of 682 thousand employees only, while the number of employees in the region more than one million employees,” stressing the readiness of the Kurdistan region to deposit oil amounts equivalent to the sale of 250 thousand barrels of oil to Baghdad as agreed previously.

The Prime Minister Adel Abdul Mahdi said earlier that “the problem of exporting the Kurdistan region of more than 250 thousand barrels of oil must be resolved, and we need to discuss and dialogue with the region.”

He pointed out that “the government pays salaries and dues to the Kurdistan region under the budget and do not pay the rest part because the budget law obliged to deduct the corresponding amounts represented by the value of 250 thousand barrels of oil per day.”

American Institute advises Abdul Mahdi government to integrate or contain the crowd and suppression

Baghdad / Al-Ghad Press:

The US Foreign Policy Research Institute on Monday presented a study advising the Iraqi government to deal with the PMF in three solutions.

The Institute said, according to the report translated by “tomorrow,” that the continued mobilization of the popular mobilization of the Iraqi government, especially after the decision of Prime Minister Adel Abdul Mahdi, the integration of the institution with military forces, will eventually lead to civil war between factions of different orientations and loyalties and objectives, as well as with the forces Official, which can only be avoided within three solutions.

The first solution involves “understanding the background and motives of each faction, and then trying to co-opt them into individual integration with Iraqi forces, until they completely dissolve. If not, the second solution would be to contain the factions, especially those that have the military capability and substantial Iranian funding that could challenge them.” Iraqi forces, or at least, are causing an internal war. ”

“Containment involves cutting off funding and logistics, as well as legally blocking the movements of these factions, until they are forced to leave the country, agree to dissolve themselves or merge. If that fails, they will be weakened until the third solution, repression by force, is used to prevent the government from being challenged again.” .,15700021,15700043,15700186,15700191,15700253,15700256,15700259&usg=ALkJrhjFqvprYKooQtKmYDz8RXtewd3b-Q

Parliamentary economy determines the reasons for the weakness of international investment in Iraq

Reconstruction and building

Economy News _ Baghdad

The Committee on Economy and Investment Parliamentary, on Monday, the reasons for the weakness of international investment in Iraq.
A member of the Committee, Riad Al-Tamimi in a statement received by “Economy News” a copy of it, “Many countries and international companies have a clear desire to enter the Iraqi market and investment in all areas, but what delays many reasons.”
Al-Tamimi added that “one of the most important reasons is the unstable security environment in some areas, which is a suitable environment for investment, in addition to the routine and slow government measures in particular.”
He stressed “the importance of activating the procedures and laws encouraging investment with the provision of appropriate security environment, including to reflect a positive image of foreign investors to enter Iraq and start projects that benefit the parties with simplified and encouraging measures.”
Al-Tamimi said that “it is not possible to move to a better economic reality without international participation in reconstruction and reconstruction and investment in all areas.”

Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give it strength among other currencies

10 hours ago Iraq

Dollar and local Iraqi currency

A member of the Parliamentary Finance Committee Abdul Hadi Saadawi said in a statement on Monday, August 19, 2019, that the Finance Committee will work to raise the price of the dinar against the dollar and give it strength among other currencies in the Arab world, or at least maintain the current exchange rate to have monetary power within Local market.

The Finance Committee in the House of Representatives revealed that there is a tendency to reintroduce the coin, which has been used for decades in the country, while members of the Committee proposed to pre-empt the coin minting process by “deleting zeros” from the current currencies to be valuable to the small cash categories.

Committee member Hanin al-Qadu told Al-Sabah semi-official newspaper on Monday, 19 August 2019, that during meetings and discussions with central bank officials, we stressed the need to reintroduce coins that have been used in Iraq during the past decades, rather than Paper that is damaged and printed in large quantities again.

He added, that the use of metal categories and their descent for trading gives a notional value of the currency, noting that a number of neighboring countries exchange rates are very high against the dollar and yet we find that it has a coin in order to preserve the currency and not need to request more banknotes, especially those with small categories . He expressed surprise at the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market.

For his part, a member of Parliamentary Finance Majid al-Waeli readiness of the Committee to prepare any legislation required by the Central Bank, which could benefit the economy and the Iraqi market, including the circulation of coins.

Al-Waeli told Al-Sabah that the committee respects the independence of the central bank and its monetary policy, stressing that the bank has technical autonomy by decision regardless of administrative affairs.

While member of the Committee Jamal Cougar, that all countries in the Middle East and the world have a coin, indicating that this type of currency gives strength to its economy.

Cougar told Al-Sabah that he hoped that the concerned parties could strengthen the currency so that the small groups could have purchasing power in case of using coins. Committee member Ahmed al-Saffar said that the cost of the coin is more than paper, and that it is harder to carry on the citizen.

Al-Saffar told Al-Sabah that inflation in the economy prevents the minting of coins and makes them circulate among citizens, suggesting that there be a step to delete the zeros preceding the coinage process to be a value for small groups against.

It is noteworthy that on 19/12/2018 Hoshyar Abdullah, a member of the Parliamentary Finance Committee MP from the change bloc that the Ministry of Finance did not make any adjustments to oil prices and the sale of oil prices and the dinar against the dollar in the draft budget for the year 2019.

Abdullah wrote on his official page on the social networking site Elvis, that an official letter arrived from the Federal Ministry of Finance to the Council of Ministers, where he kept the price of a barrel of oil at $ 56 and kept the proportion of crude oil daily export by 3.88 million barrels, and the region must export 250,000 barrels of these The rate, pointing out that the Ministry of Finance also kept the price of one dollar against 1182 dinars as it was in the previous draft ..

Abdullah said that the new draft of the general budget does not differentiate from its predecessor and there are no amendments and that Shiites, Sunnis and Kurds did not approve the previous draft and the new amendments do not solve the problems of any of those parties and parties.

Majid Shankali, a member of the Parliamentary Economy and Investment Committee, said earlier that the Central Bank’s recent procedures for selling the dollar in the public auction contributed to raising the value of the dollar against the dinar. Trying to harm the national currency for their own benefit.

Shankali added that the central bank is required to take supportive measures for the Iraqi dinar and to fight those who tamper with the security of the national economy, because the country’s interest is above all else.

Shankali demanded, the government to accelerate the development of the banking and industrial sector, especially what we note these days there is a significant rise in the price of the dollar against the Iraqi dinar, as he put it, calling for investment law legislation to help bring international companies to Iraq to develop infrastructure, while attributed the parliamentary finance earlier The decline in the exchange rate of the dinar against the dollar to the decline of financial revenues belonging to the state from oil sales, indicating that oil was sold at more than $ 100 a barrel and today its price has reached below $ 50 and this means that the revenues decreased by 50%, which affected the exchange rate National.

The Parliamentary Economy Committee said earlier that it discussed with the Central Bank Governor Ali Alaq the main reasons for the decline in the exchange rate of the dinar and effective solutions to the return of stability, noting that the central bank will take new measures to maintain the hard currency and the return of the stability of the exchange rate of the dinar against the dollar, stressing that the sale price The dollar in accordance with Article 50 of the budget reflected negatively on the Iraqi citizen pushed the Finance Committee to demand pumping dollars in the market.

On June 27, 2019, as the FATF Financial Action Task Force (FATF) gave Iran until June of the same year to tighten its laws on terrorist financing and anti-money laundering, there was uncertainty about the actual sources of funding. Star Four, a Texas-based organization, reported on Feb. 13, 2012 that Iran was systematically stealing large quantities of Iraqi oil in the south, and that the thefts had helped the Iranian government overcome its plight as a result of the international economic embargo.

With the exception of two ministries .. Baghdad announces Tuesday a public holiday

With the exception of two ministries .. Baghdad announces Tuesday a public holiday


2019/08/19 11:28:48

With the exception of two ministries .. Baghdad announces Tuesday a public holiday