WOTS WED FEB 24 21
Biden makes first call to Iraqi Prime Minister Mustafa Al Kadhimi
The call is the first from the Oval Office to an Arab leader and the second to the Middle East, after Israel
US President Joe Biden on Tuesday called Iraqi Prime Minister Mustafa Al Kadhimi, Baghdad announced.
The call is the first from the Oval Office to an Arab leader and the second to the Middle East, after Israel.
Mr Al Kadhimi announced in a tweet on Tuesday that he had spoken with Mr Biden and reaffirmed security and bilateral commitments.
“We reaffirmed our commitment to bolstering Iraqi-US ties for the benefit of our peoples and co-operation in fighting [ISIS] to ensure regional peace and stability,” Mr Al Kadhimi said.
The call comes eight days after a rocket attack in Erbil in northern Iraq that led to the killing of a military contractor and the injury of several US service members. The Biden administration said it is assisting Iraq in the investigation and that it will make a response at the appropriate time.
“When it comes to our response, we will respond in a way that’s calculated within our own timetable and using a mix of tools at a time and place of our choosing,” US spokesman Ned Price told reporters on Monday.
“What we will not do is lash out and risk an escalation that plays into the hands of Iran and contributes to their attempts to further destabilise Iraq.”
Mr Price did not directly blame Iran’s proxies in Iraq for the attack but said more broadly that rockets used in similar attacks were Iran-made.
“We know that many of these attacks have used Iranian-made, Iranian-supplied weapons, but this is something that remains under active investigation."
A diplomatic source told The National that the Erbil attack was discussed during the Biden-Al Kadhimi call. Issues related to counterterrorism and furthering the strategic dialogue between US and Iraq were also part of the discussion.
The call to Mr Al Khadimi is the first made by the US president to an Arab leader. US Secretary of State Tony Blinken also gave Iraq’s foreign minister Fuad Hussein the courtesy of the first call to an Arab counterpart on January 28.
Parliamentary Finance: The exchange rate of the dollar will remain until this happens
The Finance Committee in the House of Representatives accused, Tuesday (February 23, 2021), political blocs that "did not name" them of obstructing the passage of the financial budget for the current year, while noting that the dollar exchange rate remains until a specific matter occurs.
Committee member Jamal Cougar told IQ NEWS , "There are understandings to reach a non-final agreement between Baghdad and Erbil regarding the latter's share in the current year’s budget." Stick to it. "
Cougar pointed out that "there are blocks that seek not to pass the budget," noting that "the return of the budget to the government is impossible."
He explained, "The budget discussions continued for more than two months and its return to the government again means that it was not approved and this will create an economic problem in the country," stressing at the same time that "the exchange rate will remain and will not change until another budget comes."
Yesterday, Monday (February 22, 2021), the Parliamentary Finance Committee delivered the draft budget law to the Presidency of Parliament, without settling the paragraph on the Kurdistan region.
The second deputy speaker, Bashir Al-Haddad, says that the legislative term does not end before the vote on the 2021 budget law.
The House of Representatives ended the first and second readings of the budget law, while the Parliamentary Finance Committee held 46 meetings so far to discuss allocations in the budget and make amendments to it, and these meetings witnessed the hosting of a large number of officials.
For the first time in Iraq ... a "famous" global cosmetic products company launches its work in the country
AA International announced its entry into the Iraqi market for the first time, stressing that it will provide Iraqis with all the best innovations in the field of skin treatment at an affordable cost, while expecting success in this step.
The company said in a statement, “For the first time, original beauty products from (Palmer’s) company became available in Iraq, and imported directly from the United States of America, indicating that AA Global Trade and Commercial Agencies Ltd. (Blessed Immigration) has become the exclusive agent and distributor for ET Browne products. Drug in the country.
"We are pleased to provide the products of this world-famous company in the Iraqi market for the first time," said Chairman of the Board of Directors of AA, Jaber Al-Jabri, noting that "the company will provide the best innovations aimed at treating the skin with reasonable costs, with the increasing demand for natural cosmetics."
In turn, the General Manager of ET Browne in the Middle East, Thomas Weberg, said, "We are delighted to have palms available in Iraq," noting that "these products symbolize natural beauty and healthy skin and hair."
"Everyone can trust the field of high-quality and affordable products, as the best solution to take care of their skin," Yberg emphasized, pointing out that "they use natural ingredients in skin care products and the results speak for themselves."
He pointed out that "the partnership with AA will be an additional success story."
ET Browne, a family owned company, was founded in the mid-1800s, and has been producing safe and effective skin care products that improve natural beauty since the 1840's.
Its services include transportation, logistical support, transit facilitation, customs services and international investments in addition to the representation of commercial agencies. The company focuses on products, industries, medical and pharmaceutical equipment, and has established a subsidiary company.
As for AA, it represents a group of brands, including "Metrix" for research in the United States, "Gilbert" laboratories in France, and "Palmers" in America.
Al-Kazemi announces two economic “achievements”, one of which is related to the change of the exchange rate
Prime Minister Mustafa Al-Kazemi announced two new economic achievements.
Al-Kazemi said during the cabinet session today, speaking of the first achievement, “after it was threatened with collapse, the foreign exchange reserves of Iraq are rising, and it is expected that they will increase by nearly 4 billion dollars by the end of this month, since the reform measures started and the exchange rate change.”
He added, “As has been a significant reduction in corruption operations in the auction of the Central Bank, and we are working with thoughtful plans to revitalize the Iraqi economy and support the private sector and provide more job opportunities.”
Regarding the second achievement, Al-Kazemi said: “Weak souls have been waiting for the collapse of the economic situation since October and the last two, but government measures have enabled Iraq to pass this difficult stage in a wise manner.”
In the Corona file and government measures, he said, “We value the general commitment of citizens to the health ban, and we also evaluate highly the efforts of state institutions and agencies that have contributed to its implementation. The escalation of this commitment will enable us to limit the effects of the new and more dangerous strain of the epidemic.”
Earlier, the advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq is on the brink of economic recovery, indicating that the Supreme Committee for Reform has important decisions to promote the public and private sectors.
In an interview with the semi-official Al-Sabah newspaper, Saleh explained that “Iraq is on the edges of economic recovery at present in two areas. The first is that there is a tangible agricultural boom that will achieve growth in the non-oil GDP in 2021 by more than 4% and it is increasing. About one and a half times the population growth, and the second scope is the boom in the energy demand sector in the world. Oil prices have gradually recovered, which is a positive sign and strengthens the country’s general financial capacity.
Saleh stressed “the need to deal with this matter with great caution, by laying a basis for sustainable development and reducing economic shocks.”
He pointed out that “the international community supporting Iraq through the International Financial Alliance team, which was established months ago, expressed its desire to support the established principles for the sustainability of growth in the national economy as expressed in the white paper recently approved by the Council of Ministers by establishing a blueprint and an institutional entity (for economic reform), which is considered The support for this developmental sustainability. ”
He added that “the formation of the Supreme Committee for Reform that will have decisive and radical executive decisions to promote productive, investment and operational activity in the public and private sectors will be supported by a large international presence represented by the multilateral international financial institutions and the Group of Seven major industrial countries,” pointing out that “the availability of national and international will will embody its features.” By participating in the reconstruction and establishment of the reform and transformation team in the country from (crisis economy) to (construction economy and sustainable development), to be the cornerstone of the economic transition for development. ”
WOTS report below:
Exchange offices prices:
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1433.8000 |  1483.1000 | 1455.8000 | 1450.0000 | 1455.8000 | -7.5000 | 00:40 |
| USD/VND | 23020.0000 | 23025.0000 | 22998.3700 | 22985.3400 | 22985.3400 | -9.5100 | 00:40 |
| USD/CNY | 6.4491 | 6.4511 | 6.4661 | 6.4462 | 6.4660 | -0.0171 | 05:22 |
| USD/KWD | 0.3020 | 0.3030 | 0.3023 | 0.3021 | 0.3023 | -0.0002 | 05:10 |
| GBP/USD |  1.4134 | 1.4136 | 1.4234 | 1.4102 | 1.4112 | 0.0022 | 05:22 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | -914.4000 | 07:13 |
| USD/IDR | 14033.0000 | 14048.0000 | 14092.0000 | 14021.0000 | 14083.0000 | -49.0000 | 05:21 |
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Parliamentary Finance: We reached a semi-final agreement on the 2021 budget
The Parliamentary Finance Committee announced, on Tuesday, that it had (again) reached a semi-final agreement on the 2021 budget, with the exception of deducting the Kurdistan Region’s share.
The committee said in a statement received by Al-Eqtisad News that it “sent a letter to the Presidency of Parliament on the fifteenth of this February, in which it stated that it had completed the semi-final draft of the 2021 budget draft, and the only pending point is the text on the obligations of the Kurdistan Region, which was mentioned Details of it in Article 11 of the draft law. "
She added, "We have met with the political blocs of various components to bridge the gap in viewpoints and come up with a consensus on the entirety of the texts contained in that draft, but until now we await a final form of agreement on the article related to the region."
And the committee continued, "From the foregoing, we call on all concerned blocs to speed up their discussions and reach an agreement on what was contained in the draft presented to it."
She pointed out that, "despite the attempt by some to mix the papers and attack its members, they have made great efforts to include all the rights of citizens, employees and non-employees, and workers in all sectors and for all components in the draft budget law at the level of certain segments, ministries or governorates to ensure the establishment of service and strategic projects." And to include the rights of workers in the public and private sector.
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Oil prices fell in early trading on Wednesday, after industrial data showed that U.S. crude inventories rose unexpectedly last week as a severe freeze in the southern states curbed demand from refineries that had to close.
The American Petroleum Institute (API) reported Tuesday that crude inventories rose 1 million barrels in the week ending February 19, and data from the American Petroleum Institute showed that crude oil refinery flows fell 2.2 million barrels per day.
At 0530 GMT, West Texas Intermediate futures fell 67 cents, or 1.10%, to $61.01 a barrel, after falling 3 cents on Tuesday.
Brent crude futures fell 50 cents, or 0.78%, to $63.99 a barrel, wiping out Tuesday's 13 cents gain.
Investors will await confirmation from the U.S. Energy Information Administration later Wednesday that crude inventories rose last week, despite shale oil production hurt amid an unprecedented ice wave in the southern United States.
Prices jumped due to disruption of U.S. supplies and supply discipline by the Organization of Petroleum Exporting Countries (OPEC) and allies, called the OPEC+community, led by Saudi Arabia, which voluntarily cut an additional 1 million barrels per day.
At the same time, stimulus spending to boost growth, investor rotation of commodities, and the hope that the start of vaccinations will ease restrictions on epidemics all support oil prices.
The General Secretariat of the Council of Ministers holds a meeting to discuss the loans launched by the Central Bank
The General Secretariat of the Council of Ministers held, on Tuesday, a special meeting to discuss the loan package recently launched by the Central Bank.
The General Secretariat said in a statement seen by "Al-Eqtisad News", that the Secretary-General of the Council of Ministers, Hamid Al-Ghazi, chairs "the agenda of the committee concerned with setting up a mechanism for granting loans to projects without interest or reduced interest, within the initiative of the Central Bank of Iraq in cooperation and coordination with government banks."
Al-Ghazi stressed, according to the statement, that "the initiative aims to revitalize the private economic sector, facilitate procedures related to granting loans, and benefit from the amounts allocated to finance projects, according to the facilities approved by the committee during its previous meetings."
The meeting witnessed the discussion of "proposals and studies submitted by a number of ministries and institutions, pertaining to their employees, and mechanisms for lending agricultural projects, as amended by the sub-committee, which will contribute to providing appropriate facilities to borrowers."
The committee also discussed, "the proposal of the advisory body, regarding the amendment of the lending procedures for the approval of private banks on par with government banks, and the inclusion of all proposals in the recommendations for the purpose of approval and referring them to the relevant authorities to act accordingly.
CBI Update: Just a note:
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