Parliamentary praise for the government’s achievement in the Grand Faw Port

Member of the Parliamentary Services Committee, Alaa Al-Dalfi, confirmed Thursday, that the opening of the Grand Faw Port and the docking of the first ship represents Iraq’s success in completing the first major projects. Al-Dalfi stated in an interview with Al-Sumaria Channel, “The opening of the Grand Faw Port and the docking of the first ship represents Iraq’s success in completing the first major projects,” explaining that “the eyes of the Iraqi people are directed towards it because it is one of the projects that will support Iraq’s budget and its economy.”

He added: “The docking of the first ship is a joyful thing and will enhance the economic situation in the country. It will provide many job opportunities and enhance the development of development and economic projects in the country.”

The MP pointed out that “the House of Representatives supports all major development projects in the country, but there is one observation, which is linking the development path to neighboring countries, which could reduce the importance of the Faw Port, which is considered one of the projects that, if implemented well, will contribute to moving the country to a new stage of economic development.”

Al-Dalfi continued, “This project suffered from procrastination in the previous government,” considering that “Prime Minister Mohammed Shia al-Sudani succeeded in several files, including transportation and Iraqi ports, and also achieved a major leap in services.”

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Faw Port prepares to receive the first commercial ship

The Prime Minister’s Advisor for Transport Affairs, Nasser Al-Asadi, announced that the Faw Port is ready to receive the first commercial ship.

Al-Asadi told Al-Sabah: “The second ministerial meeting that included the participating states: Qatar, the Emirates, Turkey, in addition to Iraq, to ​​discuss the memorandum of understanding for joint cooperation regarding the Development Road Project was very important, and it was decided within the memorandum of understanding that was signed in April of this year to hold this meeting every two months.”

He added that “the importance of this meeting lies in signing the approval of the “governance” for the Development Road Project at four levels: ministerial, executive, technical, and secretarial,” noting that “it will manage the project during the next stage, and it was agreed upon and signed.” Al-Asadi explained that “there is an important issue in the development road project, which is reaching an advanced stage in the initial designs and completing the railway designs by (100) percent and placing the train and its specifications, in addition to completing (84) percent of the expressway designs, and the rest of the service corridor is in the hands of the sectoral authorities to develop the investment vision in this field.”

He also announced the completion of the five docks of the Faw Port, and it is likely that the first commercial ship loaded with “containers” will dock at the port for inspection and testing, and the construction of the submerged tunnel has been completed, and there are no problems or leakage after it was inspected by the existing company and specialists, and it is in the process of being prepared to be pulled and submerged inside the Khor Al-Zubair tunnel. For his part, the director of the submerged tunnel project, Salam Yaqoub Youssef, said: “The parts of the tunnel were completely submerged in the manufacturing basin.

” Youssef added to “Al-Sabah” that “the water level reached (13) meters out of a height of (13.7) meters.”

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Rafidain announces the implementation of the electronic system in 48 branches in Baghdad and the governorates

Information / Baghdad… Rafidain Bank announced today, Thursday, the implementation of the electronic banking system in 48 branches in Baghdad and the governorates.

A statement by the bank received by Al-Maalouma Agency stated that “48 branches have been operated so far within the comprehensive banking system, which reflects its commitment to updating its services according to the highest international standards.”

He added, “This development comes as part of the bank’s strategy to improve customer experience across all its branches, and facilitate access to integrated, fast and secure banking services.”

He explained that “the comprehensive banking system represents a qualitative shift in the bank’s path, as it supports digital transformation and enhances the bank’s ability to efficiently meet the needs of a wide range of customers.”

He explained that “this continuous expansion will include more branches in the future, as part of a well-thought-out plan aimed at providing a modern banking experience that contributes to supporting the national economy and meeting the needs of society with distinguished and comprehensive banking services.”

Almaalomah.me

Expectations of continued US presence in Iraq with Trump’s arrival to power

Information / Baghdad… Political researcher Qasim Al-Tamimi said on Thursday that the equation of the American presence in Iraq and the issue of withdrawal from Iraqi territory may change with Trump’s arrival to power, suggesting that the American presence inside Iraq will continue despite the existence of an agreement between Baghdad and Washington on this issue.

Al-Tamimi told Al-Maalouma, “The US President-elect, Donald Trump, has clear intentions towards the countries supporting and participating in the axis of resistance, and it is not hidden from everyone that he was behind the crime of assassinating the leaders of victory on the approaches to Baghdad airport.”

He added, “Iraq has moved towards removing American forces from the country, and an agreement has been reached between Baghdad and Washington on this issue, but Trump’s arrival to power may change this equation with the aim of continuing the American presence in Iraq.”

He explained that “Trump had previously visited the Ain al-Assad base in Anbar and met with the American forces there, and therefore the presence of American forces inside Iraq represents a priority for this figure, which excludes the implementation of the agreement for the withdrawal of these forces from Iraq.”

Almaalomah.me

Parliamentary calls to reconsider calculating the price of a barrel of oil in the 2025 budget

Information / Baghdad… The State Support Parliamentary Bloc called, on Thursday, for the necessity of reconsidering the calculation of the price of a barrel of oil in next year’s budget.

Bloc member Mohammed Al-Ziyadi said in a statement to Al-Maalouma Agency, “Stopping the war in Ukraine will return oil prices to $50 per barrel, so the government must reconsider calculating the price of a barrel of oil in the budget for next year 2025.”

He added, “Reconsidering the calculation of the price of a barrel in the general budget is not enough, but rather it is necessary to take important measures to reduce government spending and work to activate non-oil sources of revenue and accelerate the completion of governance in all state institutions, especially taxes and collected funds to eradicate corruption.”

The State Administration Coalition held a meeting yesterday, Wednesday, in the presence of Prime Minister Mohammed Shia al-Sudani, where a number of files were discussed, including the emphasis on supporting the step of amending one of the articles of the federal general budget related to oil.

Almaalomah.me

Iraq and 7 countries extend oil production cuts

Eight OPEC+ countries announced on Monday that they would extend the oil production cut until the end of next December.

The countries, namely Iraq, Russia, Saudi Arabia, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and the Sultanate of Oman, said in a statement that they “agreed to extend for one month the additional voluntary production cut of 2.2 million barrels per day.”

The decision aims to prevent the market from being flooded with supply and prices from falling, while the price of US West Texas Intermediate crude and Brent crude is around $70 per barrel amid no growth in demand and an acceleration in supply.

OPEC, led by Saudi Arabia, formed the OPEC+ alliance in 2016 with other countries, including Russia, to deal with the challenges posed by US competition.

This alliance currently has 22 members, who are cutting production by about six million barrels per day, either based on a decision taken at the alliance level or through additional voluntary restrictions.

OPEC+ ministers are due to meet in Vienna, where OPEC is based, in early December. But Sunday’s announcement confirms that the eight countries that extended production cuts will not abandon current cuts to oil output before the start of 2025.

Thus, the voluntary cuts will begin to be lifted at least three months later than the date set at the last ministerial meeting in early June, when OPEC and its allies announced their desire to increase production starting in October.

But the group left a way out at the time, noting that this decision is subject to review at any time.

Global oil demand growth has been declining for months due to a slowdown in the economy in China, the world’s second-largest consumer and the main driver of global oil demand growth, and in the United States, which is awaiting the results of the presidential elections scheduled for Tuesday.

Shafaq.com

Al-Sudani directs the localization of private sector salaries and sets next July as the date for the departure of cash payments

Prime Minister Mohammed Shia al-Sudani directed, on Monday, to localize the salaries of private sector workers, similar to state employees, while setting July of next year as the month for the departure of cash payments by government institutions.

Al-Sudani’s media office stated in a statement received by Shafaq News Agency, “In implementation of the financial and economic reform approach, which represents one of the government’s most important priorities, the Prime Minister directed a number of steps to be taken to enhance and develop electronic payment systems and services.”

He explained that the directive included working to localize the salaries of private sector employees, similar to the government sector, and assigning the Ministry of Labor and Social Affairs and the Central Bank of Iraq, with the participation of a number of private sector institutions, to prepare an appropriate mechanism for this purpose.

Al-Sudani also stressed that ministries and all government institutions should abandon cash payments and use electronic payments in collection and other related transactions, through an integrated plan submitted by each ministry or government institution before December 31, with actual implementation to begin no later than July 1, 2025.

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Sistani identifies seven factors for “Iraq’s stability”: You have a long way to go to achieve this

The highest Shiite authority in Iraq, Sayyid Ali al-Sistani, identified seven factors for the “stability of the country” on Monday, stressing that Iraqis have a “long path” to achieve this.

This came according to a statement issued by his office in Najaf, after he received this morning Mohammed Al-Hassan, the representative of the Secretary-General of the United Nations and head of its mission in Iraq (UNAMI) and the accompanying delegation.

The statement explained that Al-Hassan gave Al-Sistani a brief explanation of the tasks of the international mission and the role it aims to play in the coming period.

In return, the reference Sistani welcomed the presence of the United Nations in Iraq and wished its mission success in carrying out its tasks.

Al-Sistani pointed to the major challenges facing Iraq at the present time and what its people are suffering on more than one level.

“Iraqis, especially the conscious elites, should learn from the experiences they have gone through and do their utmost to overcome their failures and work hard to achieve a better future for their country in which everyone enjoys security, stability, progress and prosperity,” said the Grand Ayatollah Sistani, stressing that “this cannot be achieved without preparing scientific and practical plans to manage the country based on the principle of competence and integrity in assuming positions of responsibility, preventing foreign interference in all its forms, enforcing the rule of law, restricting arms to the state, and combating corruption at all levels.”

Al-Sistani added, “But it seems that the Iraqis have a long way to go before they achieve this, may God help them.”

Regarding the volatile situation in the region, the reference expressed his “deep sorrow over the ongoing tragedy in Lebanon and Gaza and his deep regret over the inability of the international community and its institutions to impose effective solutions to stop it or at the very least to neutralize civilians from the tragedies of the fierce aggression practiced by the Israeli entity.”

Shafaq.com

Extension of the legislative term of the Iraqi parliament for an additional month to pass laws

Member of the Parliamentary Legal Committee, Mohammed Al-Khafaji, revealed on Monday that the current legislative session of the Council of Representatives ends on the 9th of this month, and that its extension for another month is subject to Article 58 of the Iraqi Constitution.

He added in a statement to Shafaq News Agency that according to this article, the legislative term can be extended at the request of the President of the Republic, the Prime Minister, the Speaker of the House of Representatives, or 50 representatives, provided that the extension is approved by a vote of the majority of the members of the House.

Al-Khafaji explained that there is a trend to extend the legislative session from November 9 to December 9, in order to organize the work of Parliament and approve pending laws, as the past period witnessed repeated postponements in the Council’s sessions and the incomplete agenda.

Al-Khafaji pointed out that the extension will provide an additional opportunity for the government to submit the draft general budget law for 2025, which is supposed to be submitted before the end of this year. He stressed the importance of the government taking advantage of this time to avoid the delay that the budget witnessed this year.

Shafaq.com

Imports and dependence on oil are obstacles to Iraq’s accession to the World Trade Organization

Membership in the World Trade Organization allows access to international trade policies. Despite the economic policies that Iraq has adopted over the past two decades in terms of international openness and the pursuit of establishing modern economic and legislative rules, attempts to obtain a seat in the World Trade Organization have not succeeded so far, noting that Iraq obtained observer status in the organization in 2004.

The financial advisor to the Prime Minister, Dr. Mazhar Mohammed Salih, said: The Iraqi economy lacks regulatory and supervisory regulations in the scope of trade relations and international requirements according to internationally approved standards. Supporters of joining the World Trade Organization believe that this path allows member states of the organization to have broader access to global markets, while membership in the World Trade Organization guarantees access to international trade policies.

Salih indicated that there is a lack of some important economic legislation, especially those related to the rights of workers in the private sector, the field of social security and trade union organization. He referred to the existence of two restrictions that weaken Iraq’s role in the international organization: the first is that Iraq is an importing country and does not have the competitive ability to export, and the second is the almost total dependence on oil.

For his part, academic Dr. Amr Hesham explained that supporters of joining the World Trade Organization have a number of reasons that encourage joining, including that international trade agreements provide broader vital access to global markets in the areas of goods and services, and the agreements and their rules create a commercial climate that allows for a reasonable degree of commercial forecasting, thus achieving the goal of preparing marketing and export plans.

He explained that trade agreements include obligations and rights, and the exercise of the rights contained in the agreements is limited to member states in the region and no one else, and resorting to the Trade Dispute Settlement Body imposes seriousness in applying the rules to all parties with the existence of a special mechanism to take punitive measures in the event of non-implementation.

Hesham pointed out that membership in the World Trade Organization guarantees access to other trade policies, and the procedures they include that may affect access to markets, and the extent of their consistency with international agreements, and participation in future negotiations in a way that ensures the defense of commercial interests that concern those countries, and the formulation of new agreements approved by ministerial meetings.

The World Trade Organization (WTO): An intergovernmental organization that regulates and facilitates international trade among nations. Governments use the organization to establish, review, and enforce the rules governing international trade. The organization formally began operations on January 1, 1995, under the Marrakesh Agreement, replacing the GATT of 1948. The WTO is the world’s largest international economic organization, with 164 member states representing over 98 percent of world trade and global gross domestic product.

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