Iraqi News

Wednesday Morning Iraq Economic News Highlights 1-18-23

Collecting Parliamentary Signatures To Demand Discussion Of The Dollar Crisis In The Parliament Session

Baghdad today – Baghdad Today, Wednesday, the head of the Parliamentary Rights Bloc, Representative Saud Al-Saadi, announced the collection of 25 parliamentary signatures regarding placing the dollar exchange rate crisis file on the agenda of the parliament session.    LINK

How Did The Iraq Wars Affect The Real Estate Market In Dubai?

Baghdad today – translation Hussain Sajwani, Executive Director of the Emirati Damac Company, said today, Tuesday, that the renaissance of the real estate market in the UAE is due to the problems that Iraq has gone through during the past years and will continue until recently.

Hussein said, according to what was reported by the American CNBC network and translated (Baghdad Today), that “the significant increase in the value of the UAE real estate sector, which continues to this day, is due to the direct benefit of the Emirates from the situation in Iraq,” explaining, “Dubai, in particular, was the largest beneficiary.” From the Iran-Iraq war, the Iraqi war in Kuwait, and the Iraqi-American war.

“The immigration of wealthy foreigners and companies from Iraq and some countries in the region due to the political and security events to the UAE has greatly raised the value of the real estate sector, and was the main reason behind its renaissance,” he said, In a statement to the network on the sidelines of the Davos summit, pointing out that “the UAE is witnessing another renaissance in the real estate market.” Because of the Russian-Ukrainian war,” he said.

Sajwani explained that “the UAE real estate market expects an additional increase in value in the event of a conflict between Israel and Iran, despite the great danger that this conflict poses to the security of the UAE itself,” noting that “the value of real estate rent has increased by fifty percent annually due to political and security problems in the region.  LINK

Baghdad And Erbil Stress The Importance Of Approving The Draft Oil And Gas Law And Solving Problems

Policy   2023-01-18 | Alsumaria News – Politics   The President of the Republic, Abdul Latif Rashid, and the President of the Kurdistan Regional Government, Masrour Barzani, stressed today, Wednesday, the importance of approving the draft oil and gas law and solving problems.

The media office of the President of the Republic stated, in a statement received by Alsumaria News, that “Rashid received, at his residence, the President of the Kurdistan Regional Government, Masrour Barzani, on the sidelines of the Davos Economic Forum in Switzerland.”

He added, “During the meeting, the latest political and security developments in Iraq were reviewed,” noting that “the President of the Republic stressed the importance of joining efforts and unifying visions regarding the challenges facing all Iraqis.”

The statement indicated, “The meeting also discussed the misunderstanding between the Kurdish political parties and the need to focus on solving problems and putting the interest of the region’s citizens first and at various levels, especially those related to government decisions directly related to people’s livelihood.”

Rashid called for “the necessity of giving priority to the national interest in all outstanding issues and finding decisive solutions to them in accordance with the constitution and the law, and the importance of approving the draft oil and gas law to achieve justice and adopt transparency in the distribution of wealth among Iraqis.”

In turn, the President of the Kurdistan Regional Government stressed “the need to adopt serious dialogue to solve problems between the political forces and the necessity of reaching understandings that strengthen unity among Iraqis and achieve their aspirations for a free and dignified life.”

The statement concluded: “Participation in the work of the Davos Economic Forum was discussed, and the importance of conveying a picture of the development, progress and stability that took place in Iraqi cities.”  LINK

Baghdad And Erbil Stress The Importance Of Approving The Draft Oil And Gas Law And Solving Problems

WED, 01-18-2023, PM 3:32   KARRAR AL-ASADI   Today, Wednesday, the President of the Republic, Abdul Latif Rashid, and the President of the Kurdistan Regional Government, Masrour Barzani, stressed the importance of approving the draft oil and gas law and solving problems.

The media office of the President of the Republic stated, in a statement received by the news agency Noon, that “Rashid received, at his residence, the President of the Kurdistan Regional Government, Masrour Barzani, on the sidelines of the Davos Economic Forum in Switzerland.”

He added, “During the meeting, the latest political and security developments in Iraq were reviewed,” noting that “the President of the Republic stressed the importance of joining efforts and unifying visions regarding the challenges facing all Iraqis.”

The statement indicated, “The meeting also discussed the misunderstanding between the Kurdish political parties and the need to focus on solving problems and putting the interest of the region’s citizens first and at various levels, especially those related to government decisions directly related to people’s livelihood. ”

Rashid called for “the necessity of giving priority to the national interest in all outstanding issues and finding decisive solutions to them in accordance with the constitution and the law, and the importance of approving the draft oil and gas law to achieve justice and adopt transparency in the distribution of wealth among Iraqis.”

In turn, the President of the Kurdistan Regional Government stressed “the need to adopt serious dialogue to solve problems between the political forces and the necessity of reaching understandings that strengthen unity among Iraqis and achieve their aspirations for a free and dignified life.”

The statement concluded: “Participation in the work of the Davos Economic Forum was discussed, and the importance of conveying a picture of the development, progress and stability that took place in Iraqi cities.” https://www-non14-net.translate.goog/public/154064?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_sch=http

Barzani: We Reached An Agreement With Baghdad To “Freeze” Judicial Procedures Until The Oil And Gas Law Is Approved

Policy  – 18-01-2023 Number of readings: 3241  The Prime Minister of the Kurdistan Region, Masrour Barzani, said that the long-standing dispute over the sharing of oil revenues between the Iraqi government and the Kurdistan regional government may be resolved within months, by agreeing on an oil and gas law.

The dispute between Erbil and Baghdad emerged in February of last year after the Iraqi Federal Supreme Court issued a ruling stating that the legal foundations of the oil and gas law in the Kurdistan region are unconstitutional.

In this context, Masrour Barzani said that the federal government pledged to freeze for the time being the judicial measures it had taken to “control the oil and gas revenues in the Kurdistan region.”

In an interview conducted by Reuters with him on the sidelines of the World Economic Forum in Davos, Masrour Barzani said, “What we agreed on is that all these pressures on the Kurdistan Regional Government will stop and have stopped at the present time, and we will wait until we have an oil and gas law.”

Until this agreement is reached, the two sides will cooperate in managing oil fields, oil sales and revenue sharing, which the Prime Minister of the Kurdistan Region said will be formally included in the general budget at the end.

On the date of agreement on the oil and gas law, Masrour Barzani stated that it will be within months, and added, “We had a six-month time frame. I don’t know how realistic this is, but I hope we can do it as soon as possible.” https://www-dijlah-tv.translate.goog/index.php?page=article&id=323114&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Economist: Electronic Payment Reduces Corruption And Controls The Dollar In Iraq

Shafaq News/ The economist, Bassem Jamil Antoine, confirmed today, Wednesday, that electronic payment will reduce corruption and control the exchange rate of the dollar, while citizens considered that the process was unsuccessful in Iraq due to the poor living conditions of many of them.

Antoine said in an interview with Shafaq News agency, “Everything new that enters the citizen’s daily life encounters a kind of objection and resistance until they get used to it,” noting that “this situation requires operations before starting it, such as educating and educating the citizen about the importance of electronic payment, and awareness and media, especially Some citizens’ culture in this matter is considered simple.”

He added, “Although the process of starting electronic payment cards will be in the month of June, until the import of (POS) devices and (ATM) devices, there is also an option for cash payment that the citizen can use.”

And Antoine stressed that “electronic payment has one of the good advantages in its use, which is reducing errors in cash accounts, and it also protects people from the transmission of diseases, and reduces corruption, as it will impose control on the dollar when capitals are released and laundered, meaning that there will be control over them, and this matter is also It is used in almost all countries of the world.

For his part, the citizen, Hassan Hadi, said in an interview with Shafaq News agency, “Despite the electronic payment process, it is considered one of the banking development processes, which is what is in effect in the countries of the world, but it cannot be applied in a country like Iraq,” noting that “most of the citizens in Iraq are from The poor class, whose strength is on a daily basis, and therefore they do not have financial surpluses in order to fill the card with money to shop with it from shopping stores, restaurants, and other stores.

He added, “The banks in Iraq, whether governmental or private, are shrouded in many problems and administrative red tape that are difficult to deal with and issue such electronic payment cards.”

Yesterday, Tuesday (January 17, 2023), the Prime Minister issued several decisions, including activating the electronic payment process in all aspects of our lives, directing the Central Bank of Iraq to facilitate procedures for granting licenses for collecting bank cards using points of sale (POS), reducing commissions on banks and obligating All centers and shops of all kinds by opening bank accounts and providing point-of-sale devices for electronic payment.  LINK

Oil: Increase In Liquid Gas Production Rates To 6,800,000,000 Tons Per Day

Energy   Economy News-Baghdad   The Director General of the General Company for Gas Mobilization and Services, Anmar Ali, announced, on Wednesday, the increase in the daily production rates of liquid gas to (6 thousand and 800 tons), and the production includes domestic, industrial, and commercial consumption, as well as the gas system for vehicles.

And Ali said in a statement by the Ministry of Oil that “the national effort succeeded in raising the production capacity of liquid gas cylinders to (158 million) cylinders annually, with an increase of (9 million) cylinders over the production of 2021,” stressing that “the production of government and private factories covers domestic consumption, With a large surplus in warehouses and yards selling liquid gas.

Hussein referred to “the company’s adoption of the method of direct selling to citizens in densely populated areas and at the official price,” warning “some soulful people from exploiting citizens and selling outside the controls, instructions, and official pricing.”

He added, “The company, through coordination with the regulatory, security and inspection authorities, will follow up and monitor the yards selling liquid gas cylinders and mobile vendors to monitor violations, and take legal measures against violators.”

The general manager of the company noted the “export of large quantities of surplus national production of liquid gas to global markets.” 52 views   Added 01/18/2023 – 1:30 PM   Updated 01/18/2023 – 2:39 PM

https://economy-news.net/content.php?id=31956