According to the latest news, the Iraqi parliament has finally agreed to discuss the budget law draft in its forthcoming session on March 16. The decision comes after protests erupted yesterday in the capital Baghdad, demanding the government to quicken the passing of the budget law draft.
Some parliament blocs including the Kurdistan Coalition faction showed surprise at hearing such reports when contacted by PUKmedia and noted that making such a decision required parliament president and his two deputies to hold a meeting and make such decision in association, and then all parliament members must be informed through email.
“We have not been informed of such a decision yet and the budget law draft still contains articles that erupts disagreement,” Kurdistan Coalition MP Dler Abdul-Qadr equipped. “If it is true, then we will tolerate and stand against such a decision.”
Parliament`s decision-maker Mohammed Khalidi confirmed the news and stated that the project will be discusses next Sunday in parliament`s official session which is going to last for 4 consecutive days.
Khalidi, however, noted that disagreements are still continuing on the project, and if the legal numbers of MPs do not attend the meeting, it will be postponed.
Tomorrow’s paper/Baghdad: Iraqi Central Bank recorded a drop in sales of the dollar logged 112 million and 810 million dollars at auction, Sunday, for the sale and purchase of foreign currencies compared with $ 146 million was recorded in the latest auction, with the exchange rate reaching 1166 dinars per dollar.
The reporter said “tomorrow”, “Bulletin of the auction indicated that the total demand on the dollar be distributed 19 million and $ 490,000 in cash and exchange rate reached 1,190 dinars to the dollar, including the Central Bank and the Commission of 24 dinars to the dollar, while foreign remittances amounted to 93 million and 320 million dollars and the exchange rate reached 1187 dinars for each dollar, including the Central Bank and the Commission of 21 dinars to the dollar.
The bulletin showed that the number of banks participating in the auction today 12 banks had not made any offers to sell the dollar.
The Central Bank will hold 6 auctions a week to organize the sale of currency from Saturday to Thursday
The reporter said “tomorrow”, the newsletter of the market the number of shares traded in the day session of 759 million shares worth over 1 billion and 207 million and 930 thousand dinars, achieved through the implementation of 369 contract trading.
Waaf that the bulletin indicated that the number of companies traded in Tuesday’s session totaled 38 joint-stock company of the 73 listed companies electronically, the shares of 15 companies in 6 companies and stocks kept 17 company rates its shares unchanged.
The Iraq market for securities held five meetings a week from Sunday to Thursday
Jordanian Businessmen Association (JBA) President Hamdi Tabaa and the Iraqi Commercial Attaché in Amman Adeeb Fattah on Sunday discussed means to boost economic relations between the two countries and their private sectors, in particular.
The two sides agreed that the Iraqi Commercial attaché office should inform and provide the JPA with public (government) tenders that are floated in Iraq in order to encourage Jordanian companies to apply for these tenders. Moreover, Fattah stressed the need to ensure the private sectors’ participation in implementing the fuel pipeline project and other joint ventures, including the railway project, whether directly or through taking part in related infrastructure companies.
In 2013, Jordan’s exports to Iraq went up by 23 per cent, amounting to JD884 million while its imports from Iraq totalled JD269 million.
The United States hosted a top level Iraqi interagency delegation to participate in the March 3-7 Iraq Business Week activities in Washington D.C. Iraqi Deputy Prime Minister Rowsch Shaways led a 30+ member public and private sector delegation to network with scores of major U.S. firms and explore expanding business opportunities in Iraq, now the United States’ 27th largest goods trading partner. The delegation which included Iraq’s Minister of Trade and the Chairman of Iraq’s National Investment Commission addressed trade and investment challenges in Iraq, and discussed external financing options and their potential to assist in Iraq’s development. The trip culminated with a Ministry of Trade delegation visit to Houston, TX to explore establishing a trade facilitation…
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The Governor of Diwaniya for (and brother): official approvals we happened on a “free zone” in the province
The Governor of Diwaniyah, said Ammar civil told a reporter with the news agency news (and brother) during the process of distribution of land “we we happened official approvals in the free zone in this region is the second in Iraq since region first established in time over in Anbar are ineffective because of the security situation there and the conditions for conservation but Diwaniyah differ in terms of the security situation and geographical location.
He said that the distribution of industrial plots came as industrial investment law No. 20 of 1998 and this is an important step in the field of city planning and the idea of a very important industrial city of, inter alia, to expand the city and reduce traffic jams and isolate residential areas, industrial areas, as is the case in many countries, where places for the food trade and construction industries and chemical industries
Economists seem to fear from the application of the customs tariff
Showed businessmen and specialists in economic affairs in the province of Babylon, fear of rising prices for goods after the application of the general customs tariff law. Mt_khason confirmed that the first loser will be the consumer and the citizen being the weakest link in the chain of the economic cycle, in addition to the loss of the basic components to support domestic production and reduce the volume of imports. Read more
Central bank looking mechanisms with private banks to increase their capital
Baghdad – and babysit – Governor of Central Bank held a meeting regarding the capital increase banks included a number of officials of the bank with departments lagging for some banks to increase their capital. A source at the central bank said that the meeting discussed a timetable for the completion of the exchange for financial guarantees deposited with the Central until completion of transactions and procedures for capital increase. Read more
Antoine: we need a clear economic strategy features
Baghdad – Shkran Fatlawi occupies the subject of activating the role of the private sector in the development of a broad spectrum of interest in a number of experts and interested parties and specialists because of its importance in solving the more the complexities of the economy and the challenges of the need to diversify the revenue of the country on the one hand and reduce the preparation of unemployment on the other hand, as well as to achieve a balance market between locally produced and imported. Read more
Iraq is moving toward bankruptcy and expectations of the withdrawal of oil companies
BAGHDAD / JD / .. criticized a number of deputies and experts in economic affairs policy of the State Finance in the distribution of federal revenue in the general budget, which some have described as “blundering”, despite the increase in fiscal revenue for the country, but the distribution process focused on consumer sectors such as security and energy with Monitoring money for a few productive sectors and investment projects, and showed their fear of exposure to the bankruptcy of Iraq during the next two years in the event of continuing this policy characterized by bad planning and management. Read more
TBI ready to guarantee the financing of infrastructure projects
BAGHDAD – Yasser incumbent revealed Director General of the Trade Bank of Iraq TBI Hamdiya dry the readiness of the bank to ensure funding for the implementation of infrastructure projects in Iraq. dry based on seeing this on the basis that the bank is the largest in Iraq in terms of its potential physical and technical co-finance strategic projects, to the effect, it is ready to participate in syndicated loans with international banks and take responsibility for the support and security for the financing of these projects. Read more
Gold prices rose to score a third weekly gain of precious metal in a row as doubts about the recovery of the US economy weakened the attractiveness of gold as a safe haven.
Gold lost support from data showing that sales of existing homes fell more than expected to its lowest level in 18 months in January, is the latest sign of the slowdown, with some analysts attributed the decline to the climate conditions do not worsen the underlying factors. Read more
Bank of Bahrain and Kuwait (BBK) announced planning to open a branch in Kurdistan during the current year after a study of the market.
“The expansion in Kurdistan Region will be the next step to the bank , if the study of market led to positive results,” The executive chief of the bank , Abdul -Karim Bujeery said in a statement briefed by ” Shafaq News”.
He added that the company appointed advisers to explore the situation there , the results of the study will appear after 8 weeks .
The Bank of Bahrain and Kuwait is in the process of studying new investment products in different markets in the framework of the Bank’s commitment to provide opportunities for investors who have high levels of liquidity who are waiting for the right opportunity to invest their money ; as the ratio of risk versus return is appropriate.
Source: Shafaq News
Winfred said at a press conference in Basra province while attending the opening ceremony of the refining units of the third update in Shuaiba refinery, “we’re trying to make about 6 million barrels of crude oil per day, for up to 3 to 10 million a year.”
“The production rates will be too high to enable us to achieve the highest standards,” Noting that “oil revenues to balance the next year will amount to about $ 200 billion.
And Iraq production to the highest 2013 registered 3.5 million barrels a day, becoming the second largest producer in OPEC, the Administration expects to rise to 11 million bpd, 2040, if problems related to structure, and political transition peacefully.
Al-Maliki said after opening the Centre for the development of capacity in the High Commission for the development of education in Iraq, attended by a reporter for the news agency news (and brother) “educational initiative students will present all they’ve got from the scientific capacity to serve Iraq, and we are confident of that,” indicating that “educational initiative in Iraq took all factors and worked to bridge the gaps.”
“What has been achieved is a complement to the achievements made in the previous phases, as agricultural initiative that managed to make achievements in the reform of the agricultural sector and obtain self-sufficiency in wheat and other crops other crops,” Noting that “Iraq was in difficult conditions to import everything from abroad.”
Maliki stressed that “Iraq needs the initiatives either from the same institutions if the initiative or generic initiative to the institutions in order to promote Iraq because it requires strategies to improve and complete the process of building a practical and advanced