Bondlady’s Corner

Iraqi News Highlights Friday Afternoon 4-7-23

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America: The Oil Agreement Between Baghdad And Erbil Represents A Victory For Iraq

Political | 05:42 – 07/04/2023  Baghdad – Mawazine News,  US Assistant Secretary of State Barbara Leaf confirmed today, Friday, that the oil agreement between the federal government and the Kurdistan Regional Government represents a victory for all of Iraq.  And the Kurdistan Regional Presidency stated in a statement, a copy of which Mawazine News received, that “the President of the Kurdistan Regional Government received a phone call from US Assistant Secretary of State Barbara Leaf.”

The statement added, “Leif congratulated the prime minister on signing the recent agreement with the Federal Prime Minister, Muhammad Shia’a al-Sudani, regarding the resumption of oil exports,” stressing her country’s support for the full implementation of the agreement, and said that what was achieved represents a victory for all of Iraq.

He continued, “The prime minister thanked the US Secretary of State for its support,” noting that “the progress made with the federal government headed by Prime Minister Muhammad Shia’a al-Sudani lays the basis for a new era of long-term coordination between Erbil and Baghdad.”

And he continued, “The two sides discussed, during the call, the latest developments and political developments, and also dealt with a number of issues of common concern.” Ended 29 / m99

US Congratulations On The Agreement To Resume Oil Exports From The Kurdistan Region

Friday 07, April 2023 17:49 | political Number of readings: 99  Baghdad / NINA / – Today, Friday, the President of the Kurdistan Regional Government, Masrour Barzani, received a phone call from US Assistant Secretary of State Barbara Leaf, congratulating him on the signing of the recent agreement with the federal government, regarding the resumption of oil exports.

Lev confirmed, according to a statement by the regional government, her country’s support for the full implementation of the agreement, indicating that what has been achieved represents a victory for Iraq as a whole.

Barzani pointed out: The progress made with the federal government lays the foundation for a new era of long-term coordination between Erbil and Baghdad.

During the call, the two sides touched on the latest developments and political developments, and also dealt with a number of issues of common concern./ End 3

The Romanian Ambassador To / Nina /: Iraq Is A Traditional Friend Of Ours.. And It Will Soon Become One Of The Most Important Countries In The Middle East

Friday 07, April 2023 17:20 | political Number of readings: 142  Baghdad / NINA / – The Romanian Ambassador to Baghdad, Radu Octavian Dobri, affirmed: “Iraq is a traditional friend of Romania, and there is a strong will on both sides to promote political dialogue.”

He said in a special statement to the National Iraqi News Agency / NINA /: “Romania is keen to identify and develop opportunities for cooperation and to enhance mutual knowledge and understanding in all political, economic and cultural fields, despite the series of crises that struck the country and the world recently, such as the threat posed by ISIS.” Or the Corona pandemic, and currently the war on our borders, has had an impact on the progress of bilateral relations.

He added, “Iraq is located in a very active geopolitical area, and I believe that it will soon become one of the most important countries in the Middle East. For the security of Romania and the European Union, it is of utmost importance that there be a politically stable and economically developed Iraq.”

The Romanian ambassador affirmed his country’s commitment to support Iraq in combating terrorism and violent extremism by strengthening the capacity of the internal security forces.

He continued: “The historical relations between Iraq and Romania were, traditionally, very good and there is still a lot to benefit from at the political, economic and cultural levels. In the post-pandemic period, we have made efforts to revitalize political and diplomatic dialogue at the level of foreign ministries. There are also solid foundations.” high-level bilateral visits.

He continued, “Agreements in various fields are in the final stages of negotiations, and some of them are awaiting signature. In addition, important steps are being taken to enhance cooperation between the two parliaments.

And the signing of a memorandum of understanding between the Baghdad Municipality and the Bucharest Municipality, which will enhance friendship, cooperation and mutual understanding between the two local authorities.”

And the public in the fields of investment, environment, culture, urban development, services, and infrastructure projects for the benefit of the two cities,

noting that his country participates in the efforts of the international coalition through training and advising the Iraqi security forces in fighting ISIS, as well as reforming the civil security sector.

Economically, the ambassador explained: “Romania has always maintained a commercial presence in Iraq .. Since the establishment of diplomatic relations in 1958, Romania has had an important contribution to the economic development of Iraq, especially in the oil and gas sector.

The current official figures for bilateral trade exchange, which reach Nearly half a billion US dollars, which does not reflect the reality, as an important part of the economic relations are conducted through third countries.Recently, we have been involved in several local infrastructure projects, thus transferring our experience in sectors such as hydro engineering and oil and gas sector

. To: “There are Romanian-Iraqi companies with mixed capital that have investments in real estate in the northwestern part of Iraq. Romanian information technology companies are waiting to apply for tenders to be launched by the Iraqi government for projects related to electronic governance and reform of the banking system.

And about scholarships for Iraqi students.. Dobre continued: For many years, the Romanian government, through the Ministry of Foreign Affairs, has been offering on an annual basis a number of scholarships to students from outside the European Union, including students from Iraq.

We are proud that many Iraqis who studied in Romania have returned to Iraq and brought with them the experience gained in our educational institutions and also maintained a close relationship with our country, playing an important role in the development of our cultural and economic ties.

He concluded by saying, “The past few years have witnessed an improvement in the security situation in Iraq and the successful organization by the Iraqi authorities of the twenty-fifth session of the Gulf Cup in Basra at the beginning of this year, and the best proof of that is that we have been contacted by organized tourist groups from Romania who wish to By traveling to Iraq to visit archaeological sites, not just religious ones. Iraq is a beautiful country with great tourism potential, however, stability remains a key factor in order to take advantage of this potential./ End

Oil Prices Recorded A Weekly Rise For The Third Time In A Row

Economy| 09:31 – 07/04/2023  Baghdad – Mawazine News  Oil prices recorded a weekly rise for the third time in a row, after the expectations of crude markets were affected by the sudden decision of the “OPEC +” coalition to reduce production, in addition to the decline in inventories in the United States.

Prices posted their highest increase of the year on Monday, surging by 6.3% following the decision of the Organization of the Petroleum Exporting Countries and its allies to cut more than 1 million barrels of daily production starting in May.

Since that time, Saudi Arabia has raised the prices of its oil sales to customers in Asia.

Crude prices rose by 26% from their lowest level during the trading session in mid-March, when the banking crisis sparked a flight of risky assets. However, prices were actually recovering due to the increase in Chinese demand for fuel, and the weakness of the US dollar when the “OPEC +” coalition intervened by reducing production, frustrating those who sold oil short, and strengthening the recovery wave.

At the same time, geopolitical tensions are easing in the Middle East, as diplomats from Saudi Arabia and Iran meet to further improve relations and de-escalate their decades-old rivalry that has caused conflict and turmoil in oil markets.

US stockpiles of crude fell by 3.7 million barrels in the past week, adding to the supply crisis in the markets, as the country’s stocks of gasoline and distillates declined.

Despite the fundamental market condition, traders will continue to monitor the economic figures in the United States to reveal signs and possibilities of recession in the economy, in addition to the Federal Reserve’s decisions to raise interest rates.

In a note to clients, Francisco Blanche, an analyst at Bank of America, said: “The (OPEC +) alliance’s reduction in production will collide with raising interest rates by central banks aimed at curtailing demand, which poses risks to the macroeconomy. In the end, we adopt a constructive position.

The Council Of Ministers Approves The Economic Reform Law Legislation

political| 11:48 – 07/04/2023  Baghdad – Mawazine News, Minister of Industry Khaled Battal Al-Najm counted today, Friday, the stopped factories in the country, and while he made clear the impossibility of re-operating most of them, he announced obtaining the approval of the Council of Ministers to legislate a law under the name of economic reform.

Al-Najm said, during a press conference, that “certain steps known to all have been taken in dealing with some contracts, and we have a review of all partnership contracts, which amount to 177 contracts at the ministry’s headquarters, in addition to stopping some contracts and trying to treat some of them and referring some of them to the Inclusion Committee due to the existence of a waste of public money.” “.

He added, “The ministry works within a clear government program, and we adopt strategic industries in Iraq represented in iron and steel, fertilizers, petrochemicals, medicines, sulfur, phosphates, and electrical industries represented by transformers and electric cables.”

And he continued: “As for other detailed industries, we leave room for the private sector to grow, especially as it is important in bringing about a shift in Iraqi industries, and the Ministry of Industry is not only concerned with government industries and companies, but rather sponsors, supports and cooperates with the private sector, but rather offers it over public companies in many cases.” detail industries.

Regarding the stopped factories, Al-Najm said: “The stopped factories amount to 104 factories, most of which cannot be worked in because they are outdated and outside the default age, as most of them date from the sixties and fifties,” noting that “some factories began work in them in the fifties, but they are still working, including Babylon Cement Factory, which started work in 1954, and Al-Rafidain Cement Factory in 1957.

And he added, “The old factories cannot be re-worked, but we went towards restructuring some companies according to the government program, and we are currently working on restructuring (the General Company for Textiles and Leather, and the General Company for Food Industries), and this does not mean canceling them or laying off workers, but we are studying the suspended factories It is workable, either we refer it to investment, or we stop it and dispose of it in accordance with the laws that allow that.”

With regard to the ministry’s budget, the minister indicated that “the ministry’s budget includes two parts, the first of which is the operational part through which salaries and other regulated operational expenses are covered, and the second is the investment part, as there are projects under construction, and there are funds allocated for their completion, while new projects will not be completed.

” We include, with the exception of important ruling projects,” stressing that “the Ministry of Industry is supposed to participate and contribute to financing the budget and not take from it.”

Regarding the transformation from socialism and entering into privatization and capitalism, the star said: “Part of this issue is related to the clear laws of the constitution, and our constitution in 2005 was working towards the market, but some laws are still represented by trademarks in 1957, and the industrial investment law in 1998, and others.”

And he continued: “Two weeks ago, we agreed in the Council of Ministers to work on legislating a law called (the Economic Reform Law). We take all the paragraphs from the various laws that have problems with implementation, and we try to put them in one law that goes to the House of Representatives to be legislated.”

He pointed out that “the holy shrines have industrial projects within the law, and they have industrial investment licenses,” stressing that “the ministry deals with the shrines and all the private sector in a spirit of cooperation, as these factories contribute to the national economy.”

He pointed out that “the Popular Mobilization Authority established the Engineer Company, but it has not yet started with actual projects, as it was established recently,” stressing that “there is no objection to cooperation with the Engineer Company, the Holy Shrines and the private sector, as long as each specialization is preserved and there is no overlap in Work and inclination to a company.

He explained that “Iraq has a large import from Turkey and Iran, and it is not a commercial exchange. Part of this import is related to industries that we can establish in Iraq,” pointing out that ”

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