Iraqi Parliament Postpones Approval of “Real Estate Return” Law to End of Week

Iraqi Parliament Postpones Approval of Real Estate Return Law to End of WeekShafaq News/ The Iraqi Parliament postponed, on Monday, the law of “returning properties” to their owners, especially in Kirkuk Governorate, until the last session to be held during the current week.

The MP for Kirkuk Governorate, Dilan Ghafour, told Shafaq News Agency, “The decision to postpone came after a number of observations and opinions were raised, and they will be discussed, agreed upon, and the law will be re-submitted for voting in the last session of this week.”

For his part, MP Arshad Al-Salihi revealed to the agency that the Turkmen and Kurdish blocs agreed to postpone the cancellation of the Revolutionary Command Council’s decisions related to lands until the end of the week as the last date, to reach an agreement on it within the next 72 hours.

Before that, an informed source reported that the head of the “We Build” coalition, “the head of the Supreme Committee for the Implementation of Article 140 of the Constitution,” Hadi al-Amiri, attended Parliament to study the possibility of approving the “Returning Properties to Their Owners” law or not.

The source told Shafaq News Agency, “The head of the Supreme Committee for the Implementation of Article 140 of the Constitution, Hadi Al-Amiri, has been present in the House of Representatives since 1 pm until now.”

He added that “Al-Amiri held a meeting immediately upon his arrival to the Council building in the Constitutional Hall with the Acting Speaker of the Council, the Second Deputy Speaker, and the heads of the political blocs, in the presence of members of the Parliamentary Committee and representatives of Kirkuk Governorate.”

According to the source, after the meeting ended, it was agreed not to talk to the media about what happened in the meeting, from the agreement regarding voting on the law to return properties to their owners, especially in Kirkuk Governorate.

The source pointed out that “another meeting was held after 3:30 pm today, in the office of the acting head of the council, Mohsen Al-Mandalawi, in order to reach an agreement on whether to pass the law or not,” without mentioning further details.

In the context, an official statement issued by the House of Representatives, received by the agency, explained that today’s meeting with Al-Ameri discussed the results of the work of the government committee, and the completed stages of implementing Article 140 in cooperation with the ministries and relevant authorities.

The statement quoted Al-Mandlawi as confirming that “Kirkuk Governorate enjoys a special status in the draft law to return properties to their owners included in some decisions of the dissolved Revolutionary Command Council, and that its stability requires maintaining cooperation between the three authorities, and taking into account the sensitivity of this file by the various political forces.”

The Iraqi parliament was scheduled to vote today, Monday, on a draft law regarding the disputed areas, especially Kirkuk, by “returning properties to their owners that are covered by some decisions of the dissolved Revolutionary Command Council.”

The session’s agenda also included the second reading of the draft law amending the Personal Status Law and the general amnesty.

Kurdish MPs and officials say that the draft law concerns properties that are to be returned to their original Kurdish and Turkmen owners, and that were confiscated under 8 decisions issued by the dissolved Revolutionary Command Council during the years from 1975 to 1979, and the aim of which was to carry out demographic changes in the disputed areas.

Shafaq.com

Iraqi exports decline by 15.7% in the first quarter of this year

Iraqi exports decline by 15.7 percent in the first quarter of this yearShafaq News/ The Central Bank of Iraq announced, on Monday, that Iraqi exports declined by 15.7% during the first quarter of this year.

The bank said in a report received by Shafaq News Agency, “Iraq’s commodity exports declined by 15.7% during the first quarter of this year to reach 23 billion and 474 million dollars, compared to 27 billion and 847 million dollars for the fourth quarter of last year.”

He added that “Iraqi oil exports constituted 96.7% of total commodity exports for the first quarter of this year, recording a decline of 16.4% compared to the last quarter of the previous year. This decline is attributed to a 10.7% decline in oil prices.”

He pointed out that “exports of petroleum products, including naphtha, diesel and other products, constituted 2.7% of total exports in the first quarter of this year.”

The bank indicated that “other commodity exports constituted a small percentage of 0.6% of total commodity exports, the largest portion of which focused on industrial equipment and some primary foods and beverages intended for family consumption.”

Shafaq.com

Al-Amiri in Parliament to resolve a pending issue

Al-Amiri in Parliament to resolve a pending issueShafaq News/ An informed source revealed on Monday that the head of the “We Build” coalition, “Head of the Supreme Committee for the Implementation of Article 140 of the Constitution,” Hadi al-Amiri, attended parliament to study the possibility of approving the law to “return properties to their owners,” or not.

The source told Shafaq News Agency, “The head of the Supreme Committee for the Implementation of Article 140 of the Constitution, Hadi Al-Amiri, has been present in the House of Representatives since 1 pm until now.”

He added that “Al-Amiri held a meeting immediately upon his arrival to the Council building in the Constitutional Hall with the Acting Speaker of the Council, the Second Deputy Speaker, and the heads of the political blocs, in the presence of members of the Parliamentary Committee and representatives of Kirkuk Governorate.”

According to the source, after the meeting ended, it was agreed not to talk to the media about what happened in the meeting, from the agreement regarding voting on the law to return properties to their owners, especially in Kirkuk Governorate.

The source pointed out that “another meeting was held after 3:30 pm today, in the office of the acting head of the council, Mohsen Al-Mandalawi, in order to reach an agreement on whether to pass the law or not,” without mentioning further details.

In the context, an official statement issued by the House of Representatives, received by the agency, explained that today’s meeting with Al-Ameri discussed the results of the work of the government committee, and the completed stages of implementing Article 140 in cooperation with the ministries and relevant authorities.

The statement quoted Al-Mandlawi as confirming that “Kirkuk Governorate enjoys a special status in the draft law to return properties to their owners included in some decisions of the dissolved Revolutionary Command Council, and that its stability requires maintaining cooperation between the three authorities, and taking into account the sensitivity of this file by the various political forces.”

The Iraqi parliament is scheduled to vote today, Monday, on a draft law regarding the disputed areas, especially Kirkuk, by “returning properties to their owners covered by some decisions of the dissolved Revolutionary Command Council.”

The session’s agenda also includes the second reading of the draft law amending the Personal Status Law and the general amnesty.

Kurdish MPs and officials say that the draft law concerns properties that are to be returned to their original Kurdish and Turkmen owners, and that were confiscated under 8 decisions issued by the dissolved Revolutionary Command Council during the years from 1975 to 1979, and the aim of which was to carry out demographic changes in the disputed areas.

Shafaq.com

Gold at highest price ever in the world… and unprecedented rise in Iraq

Gold prices rose to an all-time high on Friday, and are set to post weekly gains due to the weak dollar, while investors focused on US economic data that may provide additional insights into the Federal Reserve’s (US central bank) interest rate decision.
Spot gold prices rose 0.3 percent to $2,565.65 an ounce by 0310 GMT, up about 3 percent since the start of the week.

The precious metal rose more than 1 percent in the previous session and hit a record high, after U.S. data pointed to an economic slowdown.

U.S. gold futures rose 0.5 percent to $2,593.30.

The dollar fell 0.3 percent, making gold less expensive for holders of other currencies.

Locally, the price of gold rose to an unprecedented level in Iraq, reaching 430,000 dinars per mithqal (about 5 grams) by Thursday evening.

Alforatnews.iq

North Oil begins preparing Kirkuk fields to hand them over to BP

A responsible source in the North Oil Company reported on Friday that it has begun preparing oil wells in Kirkuk Governorate and determining production levels in preparation for handing them over to the British company ” BP ” for development.

The source told Shafaq News Agency, “The North Oil Company has started developing a work plan to achieve the highest possible production from the Kirkuk, Bai Hassan, Jambur, and Khabbaz fields, before handing them over to the British company ( BP ), which was contracted to develop these fields.”

He added, “The Fields Authority was directed to implement the drilling and reclamation plan during the current year, and to conduct activities to activate wells without a tower, and to expedite the provision of yards in coordination with the Projects Authority, with the completion period for each yard set at three weeks.”

The source added, “The company is working on extending the pipes and completing their equipment within the specified time period to connect the Bai Hassan wells 198 and 199, with implementation to take place within one month.”

He explained that “the company is working on connecting the valves of five wells in the Khabbaz oil field, completing the repair of damaged pipes in the Shuraw/Baba Dome station, and stabilizing production rates for the wells northwest of Avana, according to the expected plans for the Kirkuk oil field, which will contribute to raising the efficiency of the production process.”

He pointed out that “the company will complete all the requirements of the British company within three weeks to a month, and a meeting will be held with the company’s representatives in the coming days for the purpose of completing and implementing what was signed, and then following up on the program that the British BP will implement to increase the production of the North Oil Company.”

In this context, economic expert Ali Khalil confirmed to Shafaq News Agency, “The contract of the British company ( BP ) that was signed by the Iraqi government through the Ministry of Oil must oblige the British company to carry out its work in an integrated manner and for its work to be tangible through an increase in production and the results to be within a specific period.”

He pointed out that “the British company had a previous contract in 2013 with the North Oil Company and ended the contract in January 2020 for $100 million, but it left work with the North Oil Company.”

Khalil explained that “the previous contract included 3D seismic studies of the field’s reservoir to build on the 2D data that was already available, as it is estimated that the Kirkuk field contains about nine billion barrels of recoverable oil.”

On August 1, Prime Minister Mohammed Shia al-Sudani sponsored the signing ceremony of a comprehensive oil memorandum of understanding between the Ministry of Oil and the British Petroleum Company ( BP ) to develop Kirkuk oil and gas production fields.

On the Iraqi side, the agreement was signed by Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani, while on the BP side, the agreement was signed by the company ’s CEO Murray Auchincloss.

The memorandum includes the rehabilitation and development of the four fields of the North Oil Company in Kirkuk, namely the Kirkuk field with its two domes (Baba and Avana), the Bai Hassan field, the Jambur field, and the Khabbaz field, as well as the possibility of agreeing on other fields or exploration areas by agreement of both parties, in light of the government’s efforts to optimally invest in promising opportunities in the energy sector, with the aim of increasing and enhancing oil production and gas and solar energy investments in this region.

Shafaq.com

Rashid Bank issues directive regarding selling dollars to Iraqi travelers

The General Administration of Rashid Bank confirmed, on Friday, that selling dollars to Iraqi travelers is exclusively and directly through its branches.

The administration stated in a statement received by Shafaq News Agency that the process of selling dollars to travelers is through the bank branches that have been designated to receive Iraqi currency from travelers.

The administration recommended that travelers visit its branches before the day of travel to hand over Iraqi currency and receive dollars from the Baghdad International Airport branch, noting that the sale is at the official price.

Shafaq.com

US vows to respond to ‘militia’ attack on diplomatic facility in Baghdad

The US embassy in Iraq said on Friday that “Iranian-allied militias” launched an attack last Tuesday targeting a US diplomatic facility in the capital, Baghdad, renewing the call for the Iraqi government to protect diplomats and the international coalition.

“On Tuesday, September 10, the Diplomatic Support Complex in Baghdad, a US diplomatic facility, was attacked,” the US embassy spokesman said in a statement today, adding that “fortunately, no injuries were reported.”

“Evidence suggests the attack was launched by Iran-aligned militias operating freely in Iraq,” he added.

The spokesman continued by saying, “The Government of Iraq has repeatedly expressed its commitment to protecting diplomatic missions, as well as US military personnel who are in the country at its invitation,” renewing his call to the Iraqi government “to protect partner personnel from diplomats, the coalition and their facilities.”

The spokesman concluded the embassy’s statement by saying: “We affirm our right to self-defense and protect our people anywhere in the world.”

A security source reported on Tuesday evening that a bombing targeted the US embassy’s logistics center inside Baghdad International Airport.

The source told Shafaq News Agency, “The shelling, the nature of which is not yet known, whether it was missiles or mortar shells, took place near the logistical support of the US embassy, ​​and another near the headquarters of the Counter-Terrorism Service, all of which are located within the approaches to Baghdad International Airport.”

This bombing is the first of its kind in a while, and came hours before the private visit of Iranian President Masoud Pezeshkian to Iraq.

Shafaq.com

Iraqi Dinar / US Dollar auction results for Thursday 09-12-2024

Results of the foreign currency selling window for Thursday 09/12/2024

Advertisement No. (5202)

The amount:

Total amounts of transfers abroad (transfers, credits)
244,595,110

Total cash withdrawals
12,750,000

Total total sales
257,345,110

Note that: The selling price of documentary credits and international settlements for electronic cards is ( 1310 ) dinars per dollar.

The selling price for transfer amounts abroad is ( 1310 ) dinars per dollar.
The cash selling price is ( 1305 ) dinars per dollar.

cbi.iq/currency_auction

After the decline in oil, a government advisor: We have the capabilities to confront the problems of the global economy

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, reassured citizens after the decline in global oil prices.
Saleh told Al Furat News Agency: “Despite the noise surrounding the global energy markets and the conflicting possibilities about their effects on the national economy, it is necessary to know the strengths of the Iraqi economy. The decline in Iraq’s external debt to its lowest level in the last forty years, not exceeding $10 billion, came from the government’s determination to follow a precise program to settle the external debt, which today constitutes less than 9% of the country’s total foreign exchange reserves, which are reserves that are close to $108 billion, the highest reserves in the country’s monetary and financial history.”

He added, “In terms of stability and growth in economic activity, the growth indicators in the non-oil GDP have touched 6%, supported by construction and housing activities and infrastructure development, in addition to the development of grain sector production, accompanied by the renaissance of the transportation and communications sector and the growth of the digital economy.”

Saleh continued, “While the price growth rate remained very moderate and did not exceed, according to the latest statistics, 3.7% annually, which means that the country is witnessing high price and development stability, it is no secret that establishing a tight food security system was based on the successful integration of agricultural and financial policies, as government support for grain producers constituted a safety valve in encouraging agricultural production of grain crops, which encouraged farmers to provide nearly 6 million tons of grains during the year 2024, which is the quantity that matches the country’s need for grains, and it was considered one of the gateways to self-reliant food security using water-saving technologies.”

He noted, “At the same time, it is no secret that this was accompanied by government support for the food basket that affects the lives of 40 million Iraqi citizens who have access to basic food items of appropriate quality and quantity,” pointing to “the trend towards reviving central markets, which is a type of competitive commercial investment.”
He added that “the General Company for Central Markets, one of the formations of the Ministry of Commerce, announced its new policy since March 2024, that it will continue to refer its sites and markets for investment, in accordance with the amended Investment Law No. 13 of 2006, in order to achieve economic balance and support the Iraqi consumer.”

Saleh explained, “It is noted that the marketing policy of the General Company for Central Markets, through the strategy of partnership between the state and the private sector, has undertaken to activate a pattern of market stability patterns by providing competitive marketing outlets that meet the needs of the poor and low-income classes, through the best consumer products in terms of quality assurance and price stability, which is consistent with the pivotal role played by the Competition and Anti-Monopoly Council issued under Law No. 14 of 2010, which aims to protect purchasing rights from monopoly and manipulation of the power of the citizen.”

He added, “We cannot ignore the role of monetary policy in developing the financing of productive activities in the country through the Central Bank initiative, which has contributed to date in providing soft loans to the private sector through specialized and commercial banks, most of which were spent on the housing sector and small and medium enterprises, as the amounts of the Central Bank initiative directed to market activity are estimated at about 10 billion dollars.”

He explained that “within the framework of the state’s orientation in the philosophy of partnership with the private sector in general and the industrial sector in particular, the state has provided a strict system for granting sovereign guarantees to ensure that the private industrial sector obtains large external loans that are spent on supplying production lines and technology that provide advanced industrial products for the benefit of outputs directed towards direct reconstruction of the country’s infrastructure.”

He added, “As well as supporting the pharmaceutical and petrochemical industries in the private sector and maximizing the manufacture of petroleum derivatives to dispense with importing gasoline in the coming months. The country has even begun to export some oils from surplus production that has recently been achieved,” noting that “the burning of associated gas will be zeroed within the next two years, while power plants may double their production mostly by replacing combined cycles and benefiting from associated gaseous fuel.”

He concluded his speech by saying, “The country is in a major work renaissance and has high capabilities to face the challenges that the problems of the global economy impose on various countries of the world.”

Alforatnews.iq

More than 5 million barrels of oil are Iraq’s exports to America during the month

The US Energy Information Administration announced on Thursday that Iraq’s oil exports to the US amounted to more than 5 million barrels during the month of August.

The administration said in a schedule seen by Shafaq News Agency, “Iraq exported 5.741 million barrels of crude oil to America during the month of August, at an average of 185 thousand barrels per day, down from July, when Iraqi oil exports to America amounted to 6.967 million barrels.”

She added that “the average oil exports from Iraq to America reached 194 thousand barrels per day during the first week of August, while those exports were 166 thousand barrels per day in the second week, and an average of 153 thousand barrels per day was exported in the third week,” noting that “the exports of the fourth week reached an average of 201 thousand barrels per day.”

The US Energy Information Administration stated that “Iraq came in fifth place in its exports to America during the past month, after Canada, which came in first place as the largest oil exporter to America, followed by Mexico, Saudi Arabia, and Brazil.

Shafaq.com