Bondlady’s Corner

Iraqi News Highlights Sunday Afternoon 1-29-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Of Iraq Denies Preventing Or Restricting The Sale Of Cash To Citizens

Economie| 10:42 – 01/29/2023   Baghdad – Mawazine News, on Sunday, the Central Bank denied preventing or restricting the sale of cash to citizens, indicating that electronic registration ensures that the citizen’s need for dollars is met.  And a bank statement, received by Mawazine News, stated that “electronic registration ensures that the citizen’s need for dollars is met and prevents repeated sales to the same person,” denying “preventing or restricting cash sales to citizens.”

He explained, “This procedure is an opportunity for citizens to obtain dollars for legitimate purposes without restrictions.”

In its statement, the bank called on “all media and the public to rely on the media office to obtain information related to the activities and procedures of the Central Bank of Iraq.” Ended 29/N33

American Energy: Iraq’s Oil Exports To America Amounted To About 200,000 Barrels Per Day

Sunday 29 January 2023 14:33 | Economical Number of readings: 179   Baghdad / NINA / – The US Energy Information Administration announced today that Iraq’s oil exports to America amounted to about 200,000 barrels per day, on average, during the past week.

The administration said in a report: “The average US imports of crude oil during the past week from eight countries amounted to 5.078 million barrels per day, down by 599 thousand barrels per day from the previous week, which amounted to 5.677 million barrels per day.”

She added, “Iraq’s oil exports to America amounted to an average of 195,000 barrels per day last week, lower than the previous week, when oil exports to America amounted to 201,000 barrels per day.”

And she indicated: “The most oil revenues for America during the past week came from Canada at a rate of 3.419 million barrels per day, followed by Mexico at a rate of 511 thousand barrels per day, and oil revenues from Saudi Arabia amounted to an average of 433 thousand barrels per day, and then Colombia at a rate of 244 thousand barrels per day.” “. According to the administration, “the amount of US imports of crude oil from Nigeria amounted to 114,000 barrels per day, from Brazil at a rate of 93,000 barrels per day, and from Ecuador at an average of 69,000 barrels per day, while it did not import any quantity from Russia or Libya.”

The Dollar Rises To 164 Thousand Dinars

Economie| 10:05 – 01/29/2023   Baghdad – Mawazine News  Today, Sunday, the exchange rates of the dollar witnessed an increase in the local markets.  Selling price: 164,000 dinars per 100 dollars Buying price: 163,500 dinars per 100 dollars

Minister Of Electricity: We Will Sign An Agreement With The American Company “GE” In The Coming Days

Reconstruction and building  Economy News – Baghdad On Sunday, Minister of Electricity Ziyad Ali Fadel announced the intention to sign contracts for electric power with the American company, GE.

In an interview with the official news agency, Fadel said, “A number of major international companies participated in the exhibition, including the German companies Siemens and the American J.”

He added, “We went to the government to conclude long-term agreements and contracts to rehabilitate and maintain the units directly with the manufacturers,” adding, “We signed an agreement with Siemens, and we will sign another agreement with the American G company in the coming days.”

He pointed out that “our contracts are ready for the maintenance of generating units with major companies for a period of 5 years,” explaining that “there are a group of projects to increase production during the next three years.”

He stressed that “the current year is very important, because it will witness work on investing associated gas to support the production sector, and this requires great work,” noting that “this was included in the agreements with Siemens and G.”

And he indicated, “There is a clear trend towards clean energies,” explaining: “We need to reduce the costs of energy production by reducing the use of fuel, and this is what we depend on in the next stage by implementing solar energy projects.”

Planning: A Rise In The Inflation Rate Over The Past Month

Economie| 11:48 – 01/29/2023  Baghdad – Mawazine News  The Ministry of Planning announced, today, Sunday, that it monitored an increase in the inflation rate during the month of December, by (0.3%).

The ministry’s spokesman, Abdul Zahra Al-Hindawi, said in a statement received by Mawazine News, that “the Central Statistical Organization monitored an increase in the monthly inflation rate during the last month of the past year 2022 (last December) by (0.3%) compared to the month of October, which preceded him.”

Al-Hindawi explained that “this increase resulted from an increase in the prices of the entertainment department by (2.4%), the miscellaneous goods and services department by (2%), and the transportation department increased by (1.5%),” pointing out that “the annual inflation rate during the past year recorded an increase.” by (4.9%).”

The Central Bank Expands Outlets For Selling Dollar Cash To Travelers

Political | 02:04 – 01/29/2023  Baghdad – Mawazine News  The Central Bank of Iraq directed, on Sunday, to expand outlets for selling cash dollars to travelers.

The media office of the Central Bank stated in a statement, which Mawazine News received a copy of, that “the government banks (Al-Rafidain – Al-Rasheed – Trade Bank of Iraq TBI) directed to expand the outlets for selling cash dollars to travelers in the country’s airports (Baghdad – Basra – Najaf – Erbil – Sulaymaniyah). “.

The bank also directed that “receiving requests be in the morning and evening to include a larger number of travelers,” noting that “the sale of cash dollars includes travelers through the land border crossings through the sales outlets designated in banks, after submitting the requirements for travel (visa or vehicle exit).”

Integrity Calls For A Review Of Customs And Tax Exemptions In Investment Laws

Baghdad – Mawazine News   called on the Federal Integrity Commission, today, Saturday, to reconsider customs and tax exemptions in investment laws.

And the authority stated in a statement that Mawazine News received, a copy of it, that “the prevention department in the authority suggested, in its report on the visits made by its field team to the Ministry of Industry and Minerals / the General Directorate of Industrial Development and the two general authorities for customs and taxes in the Ministry of Finance and the Border Crossings Authority,

To see the mechanism for granting customs exemptions to blacksmithing and carpentry factories, she suggested reducing the exemptions and limiting them to the government sector, while granting specific exemptions to the private sector to introduce production lines, raw materials and semi-manufactured materials, noting that the multiplicity of exemptions laws that reach (10) years for investors, industrialists and importers, which amounted to Its percentage for the years (2019-2021), respectively (16%, 12%, and 20%), deprived the state treasury of large sums.

The statement added, “The department, in its report, sent a copy of it to the Prime Minister’s Office, the General Secretariat of the Council of Ministers, and the Ministries of Industry and Minerals and Finance, recommended the formation of committees in the Ministry of Industry to audit the customs output books according to which the exemption was granted for projects and to check the proven materials, their quantities and types, after That the inaccuracy of the on-site inspections conducted by the committees of the General Directorate of Industrial Development has been observed, in addition to their weak follow-up on industrial projects that have been granted establishment licenses, in addition to the weakness of the technical role related to the nature of the project’s activity.

He pointed to “the necessity of activating electronic governance and expanding the electronic platform between (the General Directorate of Industrial Development, customs authorities, ports, taxes, and notary departments), in order to enable them to tighten the process of entering imported materials subject to exemption, without the presence of violations, while studying the possibility of not releasing exemptions, except after confirmation.” from the entry of imported materials involved in the production process.

The department stressed, according to the statement, “the need for the relevant authorities to follow up on the imported materials covered by the exemption from their exit from the ports until their arrival at their locations, monitoring their use in production, and following up on their leakage to the local markets, pointing out that there is manipulation in granting exemptions for licenses under establishment for some factories and fake companies in quantities.” Exaggerated amounts that exceed the actual need for ceramic materials, alabaster, reinforcing shutters, and wood.

She stressed, “The need to do a feasibility study for each project that grants a foundation permit, to be prepared by an engineering office licensed by the Ministry of Planning and approved by the Ministry of Construction and Housing, noting that most of the problems with permits granted by the General Directorate for Industrial Development are represented in the inaccuracy of the site statements on which the decisions of the committees depend. detection”.

She explained that “the Industrial Investment Law is very generous in granting customs and tax exemptions, calling for a review of it and reducing the exemptions, indicating the weak role of follow-up by the Directorate for all under- and fully-established projects and factories, and the ineffective role of the customs police in delivering imported materials with customs exemptions to their locations.” Ended 29/AD 99


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