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DinarThug

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3 hours ago, DinarThug said:

Parliamentary Energy: Parliament is determined to pass the oil and gas law during the current legislative term

 

thumbnail.php?file=419249Image1_53135163

 

By ahad5 

15/09/2019 08:56 PM | 

 

News - Baghdad

 

The oil and energy parliamentary committee announced on Sunday that the Presidency of Parliament sent a formal request to the government to send a draft oil and gas bill in order to complete its reading and vote during the current legislative term.

 The committee member Muzaffar Fazl said that "the House of Representatives is determined to pass a number of laws that have been stalled disabled since the previous sessions because of political differences on them."  

He added that "among the laws that are being moved to pass the oil and gas law," noting that "the Presidency of the Parliament sent a request to the government to send a draft   oil and gas bill for the purpose of completing the first and second reading and make amendments to it."

He explained that "the Council is determined to pass the law during the current legislative term."

Finished / 8

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Thanks Thug this thread rocks, good stuff here.

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Al-Sabah: The Central Bank reserves exceed international standards

 

Monday, September 16, 2019

 

iro / Israa Khalifa 
The Governor of the Central Bank of Iraq on the relationship that the amount of the budget deficit for the year 2020 is not proven so far as indicated by the Ministry of Finance, and what is being circulated is just hypothetical figures and not yet settled, indicating that the upper limit of the deficit must be consistent with the Financial Management Law The central bank's reserves of foreign currency are comfortable and well above international standards.
Al-Allaq said in special statements to Al-Sabah on the sidelines of his participation in the 43rd session of the Board of Governors of Central Banks and Arab Monetary Institutions held on Sunday in Cairo: “Our foreign currency reserves are comfortable and good and within international standards; The law is not to cover the deficit but is a cover for the local currency, and the strength of the exchange rate and the strength of the Iraqi dinar depends on this cover, so the process of linking the reserve and deficit coverage is not correct, and the Central Bank law does not allow the reserve to be used to lend directly or non-government Direct but it is to maintain the value of the dinar against the dollar.
 
exchange rate
And the relationship, that "the stability of the exchange rate is a central objective of the Central Bank and seeks to achieve by all means, and depends mainly on the economic performance of Iraq, the stronger the economy was to maintain the exchange rate stronger, and our economy is subject to fluctuations in oil prices, which is a resource The basis for the country, which is also the basis for the foreign currency, so careful management of reserves in order to achieve stability is important, where there can be a balance between the supply and demand of foreign currency, and when supply disrupts affect the exchange rate, and the reserve we have so far is able to The application covers And therefore keeps the price under control. ”
 
Sagging jobs
Regarding slackness in government jobs, Al-Allaq said: “The government apparatus has reached more than saturation, and it does not add economic value; rather, in its expenses it represents a great challenge to the public budget and reduces the resources that can go to employ others and achieve more job opportunities through real projects. The basic solution to the issue of unemployment is the employment of the real sectors, namely, industrial, agricultural, tourism, etc., which is the basis in moving economic rings, so there must be a focus on moving these economic sectors by changing the economic model that exists in Iraq today, the model now is that It comes from oil, and it pumps the bulk of it in the form of salaries. These salaries turn into demand for imported goods and commodities.
The Governor of the Central Bank, that "can not be laid off people, but the money taken as salaries can be invested inside Iraq through the expansion of the real sector and this will occupy other people, and that depends on coordination in trade, investment, tax and customs policies to harmonize with each other to move the situation internally".
 
Economic challenges
As for the Cairo meeting, Al-Allaq said: “These meetings are regular and periodic, and since Iraq is a member of the Arab Monetary Fund, it is attending these meetings, where the meetings of the Council are a review of all developments that take place in the financial, monetary and economic matters in the Arab world, especially in the circumstances facing Major challenges in the economic aspects Increasing challenges and risks related to these aspects, which we provide insights and perceptions and how our countries can face these challenges, and analyze their effects and impact on our economies. 
He added, “We will also discuss at the meeting the functions of central banks in terms of technologies and their effects, which are fast and successive, especially with regard to the subject of currency and its use, which has evolved towards digital and virtual, and in this context also talk about the objectives that are evolving functions of central banks quickly to achieve financial stability in Under the circumstances, and to achieve prudential control for central banks towards banking institutions and financial institutions, "he said:" Another goal that we have given priority in this meeting; we organized a special workshop on the expansion of financial inclusion, i.e. L Banking services to as many different citizens and segments as possible and achieve a lot of services quickly. ”
 
Relationship with Egypt
On the relationship between the Central Bank of Iraq and his Egyptian counterpart, Al-Allaq stressed that it is “very good and continuous, and we have many areas of cooperation, and we consider the Central Bank of Egypt very close ally, we have communication and consultation and the degree of high relationship and we need them in building our capabilities and in training and consultation.”
Regarding the reopening of Rafidain Bank in Egypt, Al-Allaq said: “It is an important issue and we have been following it for a long time. The Central Bank of Egypt knows the importance of Rafidain Bank.

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President of the Republic: We will present the draft law of the Reconstruction Council to the parliament

President of the Republic: We will present the draft law of the Reconstruction Council to the parliament
 
 
9/15/2018 20:18
 
 
President of the Republic Barham Saleh, on Sunday, with the parliamentary legal committee, the legislation of important laws in parliament during the coming period.

According to a presidential statement received by the agency (Euphrates News) a copy, that "Saleh received at the Peace Palace in Baghdad on Sunday, Chairman of the Legal Committee in the House of Representatives Rebwar Hadi and the delegation accompanying him."

Saleh stressed, according to the statement, "the importance of focusing on the important legislation to complete the building of the state and the development of the educational and educational environment in the country," pointing out that "the current legislative chapter will be an important chapter, where the Presidency of the Republic will submit to Parliament with the Prime Minister jointly draft reconstruction law, which It will be a breakthrough for a major economic transformation in the country aimed at completing infrastructure projects and providing job opportunities for young people."

The President expressed his hope that these projects will be approved quickly, especially as there is fruitful cooperation between the three presidencies, stressing the importance of coordination between the Presidency and the Parliamentary Legal Committee in order to legislate important laws that serve citizens and contribute to the consolidation of security and stability in the country.
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9-16-2019   Newshound Guru Breitling   ...

They [Russia] are putting out a report that it [oil] is probably going to be $26 a barrel in the year 2020...

it's going to be low.  

What does that mean for you and me 

It means Iraq is going to add value to their currency. 

It's not a hypothetical.  They know.  They have the most undervalued currency.  

What allows them to do that is the profits they're making selling energy in US dollars. 

But once that dries up they're not going to be sitting on a domestic currency at a tenth of a penny. 

It's not gonna happen.  

They're not China.  They're not Vietnam. 

They don't have a labor force like that.

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9-16-2019   Newshound Guru Breitling   

Don't worry about what's happening with Saudi Arabia. 

Do not worry if we go to war with Iran...

because we anticipated all this stuff we have a way to lower the price of oil...

what's that mean for you and me?  

Iraq, they're gonna have to add value to their currency. 

They are not going to be making money selling energy. 

So you and I are sitting on their currency.  

Huge opportunity.  I'm excited. 

I'm not kidding.  It's a beautiful thing...

It's coming down the road.

 

Edited by DinarThug
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Yea I saw Breightling’s video. He sounds like a smart guy but who do you believe? The gurus that say the oil has to be worth more for them to RV or like Breightling says, it needs to be worth far less for them to RV? All I have to go off of personally is what my Kurdish friend told me back about 4 or 5 years or so ago that the Kurdish Gov and Baghdad met and decided at that time not to increase the value of the Dinar because oil prices at the time were too low, they wanted oil prices higher, so that’s what I have to go with.. who knows...

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9 hours ago, GregHi said:

The gurus that say the oil has to be worth more for them to RV or like Breightling says, it needs to be worth far less for them to RV?

 

I’m With (Goldilocks) Montana - And With Somewhere’s In The Middle ($60) Being Just Right ! :o

 

 

 

Now Wave Hello To The 3 Bears To Distract Them While We Go Steal Their Porridge ... 

 
hello gifs wave bear - 6720812544
 
:D  :D  :D 
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9-17-2019   Newshound Guru Breitling   

With Iraq how does it work?  

They tell everybody what they want to do through Parliament,

the Ministry of Planning,

then they go to the Ministry of Finance and then they go to the CBI and the CBI manages it. 

That's how it works...

what they said they want to do with the Iraqi currency has never changed. 

You should be very very happy...

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The central monetary and economic policies have strengthened the government's economic resilience in the face of the toughest conditions



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17th September, 2019 by Samir Al-Nusairi

 

 

Iraq's foreign currency reserves reached $ 87 billion after the government's $ 13 billion reserves were added to the Central Bank's reserves, a positive indication of Iraq's economic resilience in the face of economic crises in the most difficult circumstances

From this, we note that what has been achieved comes mainly to the exceptional efforts made by the Central Bank during the years of economic and financial crisis in supporting the national economy and securing the limits of 16 billion dollars to the state treasury to overcome the difficult conditions suffered by our country.  When the Ministry of Finance takes advantage of the rise in oil prices and repay the $ 16 billion dues of the Central Bank owed by the government and thus the total reserves of the Central Bank and government reserves will be around $ 100 billion, especially if we expect to continue Oil to rise

The follower and competent is well aware that access to this rate of foreign cash reserves is the Central Bank to follow safe investment policieswhich strengthened the credit standing internationally and restore confidence in the Iraqi economy and international banking relations

Underscoring the safety and success of the Bank's strategy for the years (2016 - 2020) achieved .ho achievements in financing activity and activate the initiative to finance small and medium enterprises and raise the ceiling on loans to one billion dinars for each project within the objectives of the initiator e in the revitalization of the economic cycle and support the implementation of the objectives of the governmentcurriculum in the fourth axis (Strengthening the economy) by achieving the objective of development banks as a goal of development

Therefore, the Bank is currently working on initiating the syndicated Islamic finance for public and private banks.  In addition, the implementation of community initiatives from the Tamkeen Fund will enable the effective national experience in integrating the banking sector with society and achieving the objective of social and economic banks

The clear evidence, which can never be covered, is the continuation and stability of the exchange rate over two years and maintaining the inflation rate of less than 2%. It now facilitates the strengthening of the economy and banks for development

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Iraq confirms its commitment to the principles of international transparency


Iraq confirms its commitment to the principles of international transparency

 

17th September, 2019

 

Deputy Prime Minister for Energy and Minister of Oil and Chairman of the Board of Trustees of the Extractive Industries Transparency Authority on Iraq's full commitment to the optimal investment of national wealth in accordance with the principles and standards of sound management, and the use of revenues earned in support of economic development, as well as the fair distribution of wealth on the Iraqi people of all spectrums and components.  He stressed the steady position of Iraq from disclosing oil activity and revenues achieved with high transparency.  This came during his presidency of the regular meeting of the Board of Trustees of the Transparency Industries Association (67th session).


Oil Minister Thamer Abbas al-Ghadhban said in a statement received by Alsumaria News that the ministry is keen to disclose monthly through the media, newspapers and official websites about the export quantities achieved from oil fields, export outlets and financial revenues achieved, in addition to the announcement of the names of international companies and their nationalities.  Which is contracted in the marketing of crude oil, in addition to disclosing the rates of production and consumption and the average price of a barrel through the official website of the Ministry.
 
Ghadhban added that the government and the ministry support all activities and activities aimed at enhancing the confidence of the international community and international organizations concerned with the ministry and government institutions responsible for the management of oil activity in the country.


The Minister praised the role of oil formations in cooperation, appreciating the role of civil society organizations in following up the reports and activities related to the oil sector in order to achieve our goals in reaching the most accurate international standards in this context. The Deputy Prime Minister for Energy Affairs and the Minister of Oil continued cooperation between the ministries and institutions concerned with international organizations, and that the cooperation is ideal to achieve the desired results.

According to the statement it was discussed during the meeting a draft annual report for the Authority Transparency of extractive industries for the year 2017 in the presence of the international auditor.

 

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Oil Minister: We are committed to the principles of international transparency and the distribution of wealth to the people  

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Two large delegations from Baghdad to Kurdistan for high-level talks

 

kurdistan-iraq.png

 

17th September, 2019
 

 

Presidential and government delegations from Baghdad are visiting Erbil to the capital of the region for political talks with Kurdistan officials.

The first delegation will be headed by Barham Saleh, President of the Republic, where he will hold talks on Tuesday with senior officials in the Kurdistan region. Saleh held a visit to Erbil during the inauguration of Nechirvan Barzani as president of the Kurdistan region.

Another delegation from the Iraqi government headed by Fouad Hussein is visiting Erbil to meet with officials in the Council of Ministers of Kurdistan to discuss the details of the 2020 budget.

 

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Reaper Ahmed reveals schedule of "Saleh" visit to Erbil: will meet the three presidencies and Barzani


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17th September, 2019
 

Kurdistan Regional Interior Minister Reaper Ahmed announced the visit of President Barham Saleh on Tuesday to Arbil for talks with officials. "President Barham Saleh will visit Erbil today at the head of a delegation and he will be received by senior officials," Ahmed told a news conference.


He added, "It is scheduled to meet with Saleh, both the President of the Kurdistan Region, Nechirvan Barzani, the President of the Government of the region, Masroor Barzani, and the presidency of the parliament." "Iraqi President Barham Salih is also scheduled to visit President Massoud Barzani."

He said talks were continuing between the government of Adel Abdul-Mahdi and the government of Masroor Barzani to resolve outstanding problems.

 

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LINK

Today .. Presidents of the Republic and Parliament arrive in Erbil to discuss these files

 

Today .. Presidents of the Republic and Parliament arrive in Erbil to discuss these files
 
 
9/17/2019 10:46
 
 
The Presidents of the Republic and the Parliament, on Tuesday, to the Kurdistan region, at the head of a high-level delegation to discuss the outstanding issues between Baghdad and Erbil.

A source in an interview with (Euphrates News), "The President of the Republic Barham Saleh and the House of Representatives Mohammed Halbousi, in addition to Fuad Hussein, Deputy Prime Minister for Economic Affairs will meet, with the three presidencies in the Kurdistan region and a number of political parties." He added, "The meeting will discuss the most prominent files concerning Iraq and the implications of the region," noting that "the meeting will see the outstanding problems between Baghdad and Erbil in addition to discussing the government approach."

The source pointed out, that "as President of the Republic and the parliament will arrive in Erbil at noon today."
 
Edited by DinarThug
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https://cbi.iq/news/view/1284

Numbered tender (2019/1) for the processing of vertical
currency-counting machines type Laurel PV-70C

 

image.jpeg.a82d61f41bef0e6b6782d7771cab0d4a.jpeg

 

17th September, 2019
 

 

The Central Bank of Iraq / Baghdad announces the tender processing (vertical
currency-counting machines type PV-70C Laurel) (number 24) on all specialized
companies and have the desire and the possibility to equip these machines in accordance
with the legal conditions and technical specifications prepared by this bank, send their
authorized with a book Official authorization to the headquarters of the Central Bank
of Iraq / located in Al-Rasheed Street Building No. (2) I (3) Legal Department / Contracts
Section for the purpose of receiving the tender documents for an amount of (50,000)
dinars is not refundable, accompanied by a letter from the company as of Monday
2019/9/16 and the closing date will be the end of a Time for official on Tuesday , a
brief summary of 2019/10/15.

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https://cbi.iq/news/view/1285

 
CBI participates in a workshop in Cairo to support small and medium enterprises
 

article-156870889599926.jpg

 

 

17th September, 2019

 

 

The Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, participated in a high-level workshop in the Egyptian capital, Cairo, to support and finance small and medium enterprises in Arab countries, organized by the Central Bank of Egypt in cooperation with the Arab Monetary Fund
 
He stressed the Governor in his speech on the initiative of the Central Bank of Iraq for small and medium enterprises through various Iraqi banks through the allocation of 5 billion US dollars for this goal, the largest amount in the history of Iraq allocated to those types of projects
 
The Governor said that the circumstances and factors suffered by Iraq was an influential cause in the social and economic situation, which forced the Central Bank of Iraq to take the initiative to get out of those crises suffered by the Iraqi peopleand to set an example for the rest of the other institutions was attention to development and construction issues that Needed by the Iraqi people and their institutions
 
Central Bank of Iraq
information Office

2019/9/17
 

 

file-156870898819661.jpg
 

 

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Central Bank participates in a workshop to support small and medium enterprises in Cairo
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Allaq: Our initiative to allocate $ 5 billion to support projects is the largest in the history of Iraq  LINK

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Parliament restores agreement "violated" the national sovereignty of the Iraqi state

 

parlaman.jpeg

 

17th September, 2019
 

 

MP Adnan al-Asadi announced on Tuesday that the parliament has re-signed the agreement signed between the government and the International Committee of the Red Cross.

"The terms of the agreement show a violation of national sovereignty and the laws of the Iraqi state," Asadi told a news conference.

He explained that "some of the provisions in the Convention require the return of the draft to the government, and the parliament today did not vote on the passage, although he had previously voted on three of them sent by the government."

He added that "Article 9 first of the Convention stipulated that the ICRC has the right to acquire amounts in national or foreign currency and other financial assets, and to open bank accounts in any currency without adherence to the laws and regulations governing exchange control and related matters." The ICRC itself has the right to freely transfer funds to and from the country in and out of the country and to freely transfer these assets to other currencies without abiding by the laws of the country."

"Article 12, first, stipulates that members of the ICRC delegation, their wives, children and dependents should enjoy the same legal status as members of diplomatic missions," he said. Individuals who depend on them for immunity for any form of legal and administrative action, including arrest, detention, confiscation of personal effects, summoning as witnesses or asking them to provide evidence, shall continue to have such immunity after the expiry of their service in the Mission for matters relating to the mission of the Committee. International humanitarian activities."

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Parliament’s Next Session Is Postponed Until Saturday Where It Will Probably Be Postponed Again For College Football Or The Camel Races Or Something ! :bananacamel:

:D  :D  :D 

 

 

 

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Parliament will adjourn until next Saturday

 

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18th September, 2019
 

 

The House of Representatives on Tuesday lifted its session to next Saturday.

The correspondent / information / that the House of Representatives lifted its session to next Saturday at 1 pm.

Earlier in the day, the Chamber of Deputies convened the third session of the first legislative term, the second legislative year, the fourth parliamentary session, under the chairmanship of Mohammed Halbousi, while voting to lift the immunity of MP Fayek Sheikh Ali.[/b]

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I Smell A Bro’s Road Trip To The East Coast In The Near Future ! :o 

 

 

 

And The Clown’s Nose Knows Everything ...

 

:D  :D  :D 

 

 

 

LINK

Abdul Mahdi soon to the United States

 

Abdul Mahdi soon to the United States
 
 
2019/17/09 18:59
 
 
 
The adviser to Prime Minister Abdul Hussein al-Hanin on Tuesday, the most important agenda of Prime Minister Adel Abdul-Mahdi's visit to the Republic of China, which begins next Thursdaystressing that the next direction will be towards the United States to sign contracts after Iraq opened doors with Neighborhood and brothers.
 

"The prime minister will go to China on Thursday at the head of a large delegation, which has clear economic features, including ministers, advisers and 16 governors," Al-Hanin said in a press statement.

He added that "the program of the next visit and economic files, carried by the Prime Minister include major projects in roads and transport, services, education, health and other," pointing out that "the Iraqi and Chinese sides have prepared well for the visit in the past months, through continuous meetings with major Chinese companies And complete the funding model through the Iraq-China Joint Reconstruction Fund."

Al-Hunain said that "the visit will be signed during the visit major contracts and agreements in the sectors of industry and agriculture, building schools, hospitals, housing, roads, trains and bridges," returned the visit "falls within the philosophy of the Prime Minister in opening up to the world, and that Iraq is a friend of all, and an influential factor in the world, It is a bridge between all the countries of the world."

He stressed that "China will not be the last in this deal, there is a large trend towards the United States of America to sign major contracts ready with US companiesin addition to Iraq opened its doors to its neighbors to work and invest in it, and top of these countries Saudi Arabia, Iran, Turkey and Qatar Egypt and the rest of the Gulf states." 

 

 

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The names of the delegation accompanying Abdul Mahdi to China

 

The names of the delegation accompanying Abdul Mahdi to China
 
 
2019/17/09 18:57 
 
 
Prime Minister Adel Abdul-Mahdi, heading a high-level government delegation on Thursday to China on an official visit.

A source for the (Euphrates News) on the names of the delegation accompanying the Prime Minister.

Resized Image
 
Edited by DinarThug
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59 minutes ago, DinarThug said:

I’m With (Goldilocks) Montana - And With Somewhere’s In The Middle ($60) Being Just Right ! :o

 

 

 

Now Wave Hello To The 3 Bears To Distract Them While We Go Steal Their Porridge ... 

 
hello gifs wave bear - 6720812544
 
:D  :D  :D 

 

It Looks Like We’re In The Sweet Spot Zone ! :o 

 

:D  :D  :D 

 

 

 

LINK

Oil drops as the market assesses attacks on two Saudi oil facilities


17125.jpg

 

17th September, 2019

 

 

Oil prices fell on Tuesday, although the market remains concerned about the threat of a military response to attacks on two Saudi oil facilities that have cut the kingdom's output by half and led to the biggest rise in prices in decades

Saturday's attack raised the prospect of a major supply shake-up in the market, which in recent months has focused on demand worries due to a decline in global growth amid the US-China trade dispute. Saudi Arabia, the world's largest oil exporter, has been the last resort for decades

By 0631 GMT, Brent crude was down 30 cents, or 0.4 percent, to $ 68.72 a barrel, and US West Texas Intermediate fell 57 cents, or 0.9 percent, to $ 62.33 a barrel. Earlier, both benchmarks fell about 2 percent each

On Monday, oil prices rose nearly 20 percent during the session in reaction to the attacks, the biggest jump in nearly 30 years, before closing nearly 15 percent higher at a four-month high

The US Energy Information Administration said in its monthly report on drilling activities on Monday that US oil production is expected to rise from seven rock formations by 74 thousand barrels per day in October to a record level at 8.843 million barrels per day

Japan said on Tuesday it would consider a coordinated drawdown of oil reserves if necessary

US President Donald Trump said on Monday Iran appeared to be behind the attacks on Saudi oil facilities, but stressed he did not want war. Tehran has rejected accusations that it was responsible for the drone attacks

Edited by DinarThug
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1 hour ago, thomas2553 said:

feels more like the “twilight Zone”

 

:o 

 

The Twilight Zone | IMAGINE IF YOU WILL LIVING IN A COUNTRY WHERE IT IS BETTER TO BE UNEMPLOYED AND UNDOCUMENTED THAN IT IS TO BE EMPLOYED AND A CITIZEN | image tagged in rod serling,twilight zone,funny memes | made w/ Imgflip meme maker

 

:D  :D  :D 

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