Iraqi Oil: We seek to conclude agreements with countries to establish investment projects

Iraqi Oil: We seek to conclude agreements with countries to establish investment projects

side of the meeting September 16, 2021 12:29 AMnull

Mubasher: Oil Minister Ihsan Abdul-Jabbar Ismail confirmed that Iraq seeks to develop and develop bilateral relations with brotherly and friendly countries.

This came while the minister headed the Iraqi side in the “Iraqi-Emirati” committee, which was held today, Wednesday, according to a statement by the Ministry of Oil.

The minister explained that Iraq seeks, through the joint committees, to develop and develop bilateral relations with brotherly countries by concluding agreements that aim to establish joint investment projects that contribute to the sustainability and development of economic development.

The Minister of Oil added that today’s meeting represents the ministries, authorities and relevant authorities represented in this committee, in order to discuss the most important axes and topics that contribute to activating the joint investment sector, inter-trade, renewable energy, and the dry channel between the Gulf and Europe, passing through Turkey.

He also discussed the financial returns that Iraq is expected to derive from transit taxes, as well as joint cooperation in investment and development of Iraqi ports to be an important base for transporting and storing goods and international trade.

This is in addition to discussing the importance of cooperation and coordination between the ministries and concerned bodies in providing the necessary facilities to provide a safe investment environment, activating the mechanisms of movement and movement of investors, as well as other axes related to investment in the commercial and other sectors that will be included in the meetings of the Iraqi-Emirati Committee.


Barzani from Britain: Kurdistan is a factor of stability and is ready to solve problems with Baghdad through dialogue

Kurdistan womenBritainNechirvan Barzani 2021-09-15 15:50A-AA+

Shafaq News/ The President of Kurdistan Region, Nechirvan Barzani affirmed during his meeting today, Wednesday, with the Friends of Kurdistan group in the British Parliament, that Kurdistan will always remain a factor of security and stability and is ready to solve all its problems with the federal government through dialogue based on the principles of the constitution.

A statement by the region’s presidency, received by Shafaq News Agency, stated that the region’s president, Nechirvan Barzani and his accompanying delegation, in their current visit to the British capital, London, met at a dinner with a group of British parliamentarians for friendship with Kurdistan Region.

The statement indicated that Barzani presented, during an open dialogue, an overview of the current conditions and developments in the Kurdistan Region, Iraq and the region, in which he clarified his visions and ideas and the region on how to address problems, endeavors and steps in order to protect security and stability in the region.

Barzani reiterated that Kurdistan will always remain a factor of security and stability and is ready to solve all problems with the Iraqi federal government through dialogue and on the basis of the constitution, expressing his thanks for the support provided by the group of British parliamentarians from the friends of Kurdistan and the British government to the Kurdistan Region. 

For its part, the group expressed, as well as its pleasure in the relations between the Kurdistan Region with Britain, the emphasis on continuing to strive, work and support the Kurdistan Region and provide and protect its constitutional rights, wishing it success. 

The situation and developments in the region in general and a number of issues of common interest were another focus of the meeting.

The Minister of Finance reveals the average monthly insurance premium for the Iraqi individual

political| 03:41 – 09/15/2021


Baghdad – Mawazine News
, Minister of Finance Ali Allawi announced, on Wednesday, the number of insurance companies operating in Iraq currently, while noting that the average insurance premium for an Iraqi individual is 630 dinars per month.
Finance Minister Ali Abdul-Amir Allawi said in his speech at the first annual international scientific conference under the slogan ((Reform of the Insurance Sector in Iraq… Reality Challenges and Future Opportunities)), which was followed by / Mawazine News /, that “the insurance sector is an important and fundamental pillar in economic development.” The development of the private sector and the easing of the burden on the state.
He explained, “Iraq was subjected to conditions such as wars, economic embargoes, and the like, which greatly affected this sector and caused it to decline in a frightening manner,” noting that “it started to appear and return to the fore after the events of 2003 as a result of openness to different countries of the world and witnessing the great development taking place.” In this sector, what urged officials to revitalize this sector, Law No. 10 of 2005 regulating insurance business was legislated, according to which the Insurance Bureau was established to be the body responsible for regulating, monitoring and developing the insurance sector in Iraq.
He pointed out, “The Iraqi insurance market consists of public and private sector companies, as the number of companies granted a license to practice insurance business by the Insurance Bureau in Iraq since the beginning of its establishment until now is (41) companies, but the companies currently operating from them and that meet the legal requirements are ( 29) Company.
He continued, “The insurance premiums for the year 2019 amounted to about 287 billion dinars, and this is a very important indicator that shows that the average insurance premium for each Iraqi individual is about 630 dinars per month for each citizen, and this figure, if compared to the size of the Iraqi economy and the size of the people, remains very small, on the one hand, on the one hand. On the other hand, it indicates the potential future opportunities in the Iraqi market.
He pointed out that “the potential opportunities in the Iraqi market in the future lie in two directions: the first relates to increasing the number of beneficiaries of the current insurance services, and the second relates to increasing the number of insurance services, especially with regard to numerous products such as car insurance products, loans, life and fire, documentary credits, movable and immovable funds, and others.” “.
He stressed, “The desire to develop the insurance sector must be accompanied by a clear and deep vision, based on a sound reform methodology that begins with diagnosing the current reality and its problems to determine the desired goals in order to put reform mechanisms and procedures into practice, and this is what was pursued in the white paper approved by the Iraqi government.” in its first and second parts. Ended 29/R77

Iraq and Saudi Arabia sign new agreements to revitalize the Arar border crossing

economyIraqSaudi ArabiaBorder Ports Authorityjuniper outlet 2021-09-15 07:22A-AA+

Shafaq News/ Iraq and Saudi Arabia agreed, on Wednesday, to take new steps to activate the process of trade exchange at the Arar border crossing between the two countries.

The Iraqi Border Ports Authority said in a statement received by Shafaq News Agency, that the Transportation and Border Ports Committee headed by the Authority’s Chairman Omar Al-Waeli and his accompanying delegation held a meeting today at the Arar border port, in the presence of the Saudi ambassador in Iraq, with the Saudi side headed by the governor of the Zakat and Tax Authority And customs, the head of the Transport Authority and the delegation accompanying them,” noting that “the meeting comes as a continuation of the Riyadh meeting.”

Al-Waeli affirmed, according to the statement, that points have been set up to resolve all obstacles facing the process of trade exchange at the port in order to increase them and facilitate the procedures for entering goods into both countries. 

It was also agreed, according to the statement, to open a special office to certify certificates of origin after the approval of the Ministry of Commerce and to give facilities and priority to Iraqi importers and exporters alike. 

The statement referred to “visiting the trade exchange arena and urging workers to expedite the handling and exchange process and complete the required requirements.”

He explained that “the port administration was assigned to develop tight plans with the security services and departments operating at the port to ensure the inspection of goods and prevent the passage of any materials outside the controls.”

According to the statement, “the Saudi side called for supporting the port, increasing trade and activating transit as soon as possible, and naming coordinators between the ports to complete the roads to be completed by them in a way that ensures the smooth flow of entry and exit of trucks.”

On June 24, during a meeting with Saudi officials in Riyadh, a joint Iraqi government security delegation, headed by the Deputy Commander of Joint Operations, Lieutenant-General Abdul-Amir Al-Shammari, discussed several issues, including border security and joint ports.

Iraq is making a sharp cut in its oil prices for the American market energy


Iraq made sharp cuts to the price of its crude oil to its customers in the United States, in a move described by Bloomberg Economic Agency as striking.

The agency said that Basra Light crude was sold in October at a discount of $1.15 a barrel to buyers in the Americas, compared to a slight discount (15 cents a barrel) for the same crude in September.

The report pointed out that this pricing of Iraqi oil constitutes an unfamiliar departure from the norm prevailing in the Middle East, where most countries take into account what the Kingdom of Saudi Arabia is doing in the field of pricing, and rarely shy away from it.

Earlier this month, the kingdom kept its main crude – Arab Light – at $1.35 with a premium of 15 cents a barrel for October, unchanged from September.

But Iraq is now lowering prices for buyers everywhere, except for Kirkuk oil sold from a Mediterranean port, where its price has remained unchanged.

The agency believes that this reduction in Iraqi oil prices is a result of the recent decline in the volume of US purchases.

Tanker tracking data shows shipments fell in June and July, rising briefly before declining again in the early part of September.

Bloomberg data showed that oil production in the Gulf of Mexico in the United States shrank sharply in the wake of Hurricane Ida, which caused a large part of the region’s production to stop.

The Office of Safety and Environmental Security said at the time that “oil and gas companies evacuated 290 offshore facilities and halted 91 percent of their normal offshore production before the storm arrived.”

And the office’s data indicated that “companies also reduced 1.89 billion cubic feet of natural gas production, or 85 percent of production.”

The International Conference for the Recovery of Stolen Funds kicks off in Baghdad with wide international participation

2021/09/15 10:27

Baghdad / Obelisk: The international conference for the recovery of looted funds began with wide international participation in the capital, Baghdad.

The conference is held under the auspices of the Prime Minister and with the participation of the President of the Arab League, ministers and heads of Arab judiciary and anti-corruption bodies.

The Federal Integrity Commission and the Ministry of Justice will undertake the task of organizing the conference, which will witness the holding of joint workshops and the presentation of research working papers that address the most prominent obstacles and obstacles facing the national regulatory authorities in the issue of recovering convicts, assets and funds smuggled outside the borders of their countries, and what solutions and remedies may be required. The countries that hold these funds and assets and those convicted of corruption crimes by decisions of UN conventions, laws, charters and customs calling for cooperation in returning them to their countries of origin.

The conference organizers seek to come up with a set of decisions, recommendations, results and initiatives that urge the participating countries, in presence or by default, to cooperate and provide legal assistance between them to recover the smuggled money and the proceeds of corruption that the spoilers have been able to smuggle outside the borders of their countries, and to form alliances and groups of countries that lobbied against safe environments. taxation at the Arab and international levels.

It is noteworthy that Iraq, represented by the Integrity Commission, had participated last week in the meetings of the working groups within the framework of the United Nations Convention against Corruption, held in the Austrian capital, Vienna.

The head of the commission called on the international community to abide by the provisions of the United Nations Convention against Corruption related to the recovery of funds and convicts and to overcome difficulties in the efforts to recover smuggled funds and assets, identifying the obstacles and impediments that stand in the way of the success of the efforts of the national regulatory and judicial bodies, despite the efforts made by some of them. Such as dual nationality, the difficulty of proving the link between assets and smuggled funds and the crime that these assets result from, and the integration of those funds into the economies of those countries.

Al-Halbousi meets Al-Sisi

  •  Time: 09/15/2021 13:23:16 
  •  Reading: 364 times 
Al-Halbousi meets Al-Sisi

{Political: Al-Furat News} Parliament Speaker Mohamed Al-Halbousi met with Egyptian President Abdel Fattah Al-Sisi today, Wednesday. 

And his media office stated in a brief statement that {Al-Furat News} received a copy of it, that Al-Halbousi “met the President of the Arab Republic of Egypt, Abdel Fattah Al-Sisi, at the Federal Palace.” 

Al-Halbousi, accompanied by a parliamentary delegation, arrived in Cairo on an official visit yesterday evening.

The visit will include, after meeting Sisi, the Speaker of the House of Representatives, the President of the Senate, and the Prime Minister, in addition to the Sheikh of Al-Azhar Al-Sharif, the Speaker of the Arab Parliament and the Secretary-General of the League of Arab States.


The Iraqi government: We will reduce external borrowing to its lowest levels

economyIraqexternal borrowing 2021-09-15 06:07A-AA+

Shafaq News/ The Minister of Planning, Khaled Batal Al-Najm, said today, Wednesday, that the ministry’s policies and the government’s directions are moving towards reducing external borrowing to its lowest levels, with the aim of reducing the burden of loans on the national economy.

This came while he chaired an expanded meeting, which included representatives of the ministries of finance, electricity, construction, housing, municipalities, transport, water resources, agriculture, the Baghdad Municipality and the Reconstruction Fund for liberated areas, with the representative of the World Bank in Iraq, Ramzi Numan, according to a statement issued by the Ministry of Planning.

During the meeting, the minister said that external borrowing will be absolutely necessary, and in only two cases, the first is the great importance of the project, and the second is the lack of cash to implement this project.

He stressed that the ministry will not include or approve any project, unless it meets all the requirements, foremost of which is the feasibility study, calling on the relevant ministries that have projects funded by the World Bank loan, to expedite the completion of these projects, and to benefit from the loan funds currently available. .

During the meeting, they discussed the problems and obstacles facing the implementation of projects financed by the World Bank, focusing on projects with low rates of implementation, and the reasons for delaying their completion.

The minister directed the formation of a joint committee comprising representatives of the Ministry of Planning, the World Bank and relevant authorities, to follow up on the implementation of these projects, and to develop mechanisms and proposals that contribute to the speed of completion.

The President of the Kurdistan Region arrives in London.. Photos

Kurdistan womenbreakingKurdistan Region PresidentLondonVisit 2021-09-15 06:05A-AA+

Shafaq News/ The President of Kurdistan Region, Nechirvan Barzani arrived today, Wednesday, in London, the capital of the United Kingdom, on an official visit.

The Presidency of the Region said in a statement received by Shafaq News Agency, that President Nechirvan Barzani will meet during his visit with Prime Minister Boris Johnson, the Ministers of Foreign Affairs and Defense and other British officials.

The statement added that the president will discuss during his visit ways to strengthen relations and expand areas of cooperation and partnership between Iraq and the Kurdistan Region and the United Kingdom, the war on terrorism, security and stability in Iraq and the region in general.

The President of the Kurdistan Region arrives in London.. Photos
The President of the Kurdistan Region arrives in London.. Photos
The President of the Kurdistan Region arrives in London.. Photos

Al-Kazemi announces that Iraq will recover part of its looted money

politicsIraqAl-KazemiRecoverylooted money 2021-09-15 06:02A-AA+

Shafaq News/ Prime Minister Mustafa Al-Kazemi announced on Wednesday that his government succeeded in recovering part of Iraq’s looted funds from abroad.

Al-Kazemi said in a speech during the launch of the proceedings of the international conference to recover the looted funds, that corruption and terrorism are two sides of the same coin, adding, “Corruption was present when society was plunged into sectarian fighting.”

He noted that “the path to a rational state begins with frankness with our people about the diseases that led to the decline of a great country like Iraq.”

Al-Kazemi also said, “We set from the beginning our main goal in fighting corruption.”

He added, “We have formed a special anti-corruption committee that has done its duty with the Integrity Commission, the judicial authorities and the Ministry of Justice and Financial Control.”

He pointed out that “the committee uncovered, within one year, corruption files that had not been revealed for 17 years, and recovered money looted from abroad.”

The Prime Minister also noted that “the committee was attacked and false accusations aimed at thwarting it and thwarting its work.”