Bondlady’s Corner

Iraqi News Highlights Friday Afternoon 4-28-23

Tlm724 Administrator Bondlady’s Corner

Washington Renews Its Commitment To Partnership With The Iraqi Government

Iraq   Friday, April 28, 2023 1:03 PM  Baghdad / National News Center  Today, Friday, US Ambassador Elena Romanowski expressed her country’s commitment to partnering with the Iraqi government to ensure the health and safety of workers as they seek to earn a living.

Romanowski said in a tweet on the “Twitter” platform, followed by the / National News Center /, that “on the Day of Safety and Health at Work – the US government, including both the US Embassy in Baghdad and the US Consulate General in Erbil, is committed to partnering with the Iraqi government to ensure the health of and the safety of workers as they seek to earn a living, secure themselves and their families, and achieve their dreams.”

It is worth noting that several political calls have been issued recently to initiate the adoption of the Social and Health Security Law, in order to avoid exposing workers to “grave dangers.”

The Investment Is Discussing The (Conciliation) Initiative With The European Union Delegation To Support Economic Reform And Development In Iraq

Friday 28, April 2023 07:24 | Economical Number of readings: 493 Baghdad / NINA /- The head of the National Commission for Investment, Haider Makiya, discussed with a delegation of representatives of the countries of Germany, France, Italy, the Netherlands, Finland and Sweden, members of the European Union, the “Tawfiq” initiative aimed at enhancing coordination in the paths of development cooperation in the field of investment between the countries of the European Union and Iraq.

The meeting discussed, according to a statement by the Commission, ways to contribute to enhancing the levels of the Iraqi economy, local economic policies and the extent of their compatibility with European policies and the possibility of creating an attractive investment environment for European business and projects in Iraq

.🔺Access to financing

🔺Business and project development

🔺An enabling environment for investment.

The statement added that the meeting concluded with the necessity of coordinating joint efforts and defining a map of action with representatives of the member states of the European Union in order to develop the national investment sector and expand the horizons of bilateral relations with European capitals and companies specialized in pioneering projects

Multiple specializations with European countries interested in a certain type of investment projects inside Iraq, such as renewable, industrial, residential energies, and others./ End 2

Legal Expert: The Supreme Judicial Council And The Government Are Able To Recover The Looted Iraqi Funds And Recover The Criminals Immediately

Friday 28, April 2023 | General Number of readings: 477  Baghdad / NINA / – The legal expert, Counselor Salem Hawas, affirmed: The Supreme Judicial Council and the government are able to recover the looted funds of Iraq and recover the criminals immediately.

And he said in a statement: The management of the Iraq Money Recovery Fund is responsible for providing the House of Representatives with periodic reports on its follow-ups in recovering public money, especially outside the country. Wherever they are.

He pointed out: The provisions of Article 14 of the Law and its amendment No. 7 of 2019 obligated the government, when concluding investment or economic agreements with any country that has funds for Iraq, toinclude the provisions of the Money Recovery Law, including the funds that fled after 2003 due to major corruption operations.

The President of the Supreme Judicial Council, Judge Dr. Faeq Zaidan, met yesterday, Thursday, with the Prime Minister, Muhammad Shia’a Al-Sudani.

A statement by the Supreme Judicial Council stated that the two sides discussed following up the legal measures taken in cases of financial and administrative corruption, recovering funds, and arresting fugitive suspects inside and outside Iraq./ End 3

SOMO: Exporting Two Million And 770 Thousand Tons Of Fuel Oil Since The Beginning Of 2023

Energy     Economy News – Baghdad  Today, Friday, SOMO Oil Marketing Company announced the exported quantities of fuel oil since the beginning of this year.

The company’s media office said, “Sumo is implementing a mechanism for selling fuel oil products based on the contracting methods stipulated in Article 4 of the controls for implementing contracts for importing and exporting petroleum products.”

He added, “Selling and contracting takes place on all quantities available for export by sending a direct invitation to discreet international companies for specialized Iraqi companies to submit their competitive price offers to buy fuel oil products,” continuing: “The best offered prices are chosen, which would maximize the country’s revenues.”

He pointed out that “the exported quantities of fuel oil products have reached two million and 770 thousand tons since the beginning of this year.”

Oil Prices Are Heading For A Second Weekly Decline Amid Recession Fears

Economy| 08:54 – 04/28/2023  Baghdad – Mawazine News  Oil prices were little changed on Friday, but were set to post a second straight weekly decline as disappointing economic data in the world’s largest user of crude oil and uncertainty about a rate hike raised concerns about future fuel demand.

And by 0156 GMT, Brent crude futures for June delivery rose 16 cents, or 0.2 percent, to $ 78.53 a barrel. These contracts expire on Friday, and the most traded contract for the month of July rose 21 cents, or 0.3 percent, to $78.43 a barrel.

US West Texas Intermediate crude rose 23 cents, or 0.3 percent, to $74.99 a barrel.

Brent crude is set to decline this week by 3.8 percent and has fallen 9.1 percent in the past two weeks. WTI is also set to fall 3.8% this week, bringing its two-week decline to 9.4%.

Data showed that US economic growth slowed more than expected in the first quarter, but jobless claims fell in the week ending April 22.

Investors also fear that interest rate increases that central banks may introduce in the framework of combating inflation may slow economic growth and weaken energy demand in the United States, Britain and the European Union.

The Federal Reserve (the US central bank), the Bank of England and the European Central Bank are expected to raise interest rates at their next meetings. The Fed meets on the second and third of May.

On the supply front, Russian Deputy Prime Minister Alexander Novak said on Thursday that the OPEC+ alliance sees no need for an additional oil production cut even though Chinese demand came in lower than expected, but added that the group is always able to adjust its policy if necessary.

The OPEC+ alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, announced this month a total production cut of about 1.16 million barrels per day.

The market rebounded after the OPEC + announcement, but later retreated due to fears of a recession and its impact on demand.


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