WOTS TUE MAR 8 22
Expectations of a new government next April, and Al-Kazemi's shares are on the rise
These are the articles I discussed on the My FX Buddies blog:
The dollar exchange rates rose today, Tuesday, on the local stock exchange|
The selling prices of the dollar were 147,750 dinars per 100 dollars, while the purchase prices of the dollar were 147,250 dinars per 100 dollars .
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, and the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar
CBI Update: Just a note:
They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is
here.
The CBI for rate is 1460
here.
The currency auction For March 8th, 2022 total sales amount $208,514,298.
including $73,560,000. CASH
ISX Update: Shares Traded: 753,565,585Value Traded: 1,369,007,712
closed down 0.95%
3-7-2022 Intel Guru MarkZ [via PDK] We are hearing out of Iraq to expect the seating of the government tomorrow...I am hearing from all my bond contacts that they will move forward as soon as that government is sat. I don’t know what that means for us yet on the 800 number timing. All of my sources as of this afternoon are extremely upbeat and excited about this potential as they seat that government tomorrow.
3-7-2022 Newshound Guru Pimpy Question: "When will they reinstate the Iraqi dinar?" That's the 64 million dinar question...they seem to be making that announcement now - that they have no intentions on changing the rate for this year but every time they say that then you see what appears to be conflicting articles coming out because they're still discussing it. They're still taking about it. If they were truly settled on the rate they would just say so and leave it alone but for weeks now we've been seeing article after article on conversations going back and forth about what to do with the Iraqi dinar exchange.
3-7-2022 Newshound Guru MilitiaMan There is a convergence of things that are on going that suggest there are things moving quickly now. The reduction in value of the currency on 12/19/2021 had a purpose and that purpose is over. The subject is clearly being talked about at length, that even included paying off repartitions to Kuwait and the lifting of Chapter VII sanctions. Add in that oil has risen to about $120.00 per barrel and they are automating the provinces through AYSCUDA...this week they are implementing all provinces at the borders. That income will be similar to and or equal to the oil revenues. All of which sill support the exchange rate that will benefit the citizens.
3-7-2022 Newshound Guru Godlover Article: "Deputy: The government will be formed after Eid Al-Fitr" ...per articles their intentions are to elect the POR & the PM in one session. Then PM’s cabinet needs formed, which according to several articles will happen after the holiday...My hopes are that once the POR & PM are elected, the budget can be sent to parliament for reading & vote during the cabinet formation process. I suspect the budget will not open until the PM’s cabinet is formed, bringing us closer to mid year possibly for the budget opening. God willing, the budget opens with what we all seek.
3-7-2022 Intel Guru Frank26 The governor of the CBI is...a figure head. He is composed of a structure that allows him to make announcements of decisions. He is backed up by the board of directors. There's many of them. They have been doing a masterful job. The only thing we need is to sit a government.
3-7-2022 Newshound Guru Pimpy Article: "For the first time in the history of he currency auction, the central bank sells less than 1 million in cash" ...It doesn't look like the banks are parting with the American dollars...
3-7-2022 Intel Guru MarkZ [via PDK] Coming out of Iraqi parliament they had expected a adjustment of the rate wihin 3 days…
3-7-2022 Newshound Guru Samson Article: "Oil nears $130 on fears of a ban on the Russian product" Quote "Analysts at Bank of America said that if most of Russia’s oil exports were cut, there could be a 5 million barrel or larger deficit, which means oil prices could double from $100 to $200 a barrel, while JPMorgan analysts said this week that oil may double. to $185 a barrel this year"
3-7-2022 Newshound Guru Desert Advisor Article: "Brent crude price exceeds $119 per barrel" Well this just happened. You think their [Iraq's] economy's growing and strengthening? I do.
3-7-2022 Newshound Guru Sandy Ingram Article: "Iraqi Parliament to met for reopening door for new presidential candidates" Once the new president is elected by the parliament then they will select a prime minister.
3-7-2022 Intel Guru Fleming ...starting tomorrow [Monday], all banks all over the world are using QFS (QUANTUM FINANCIAL SYSTEM), exclusively...Confirmed by a variety of sources in many positions of authority… No more SWIFT allowed... Evidence that this is underway can be found by the announcement made by Iraq’s Central Bank, yesterday, stating that Iraq will have a “new currency value” within the next 3 days. The CBI is closed today and tomorrow, so Tuesday it is!
Catnip's Corner:
***********ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister Mustafa Al-Kazemi receives the Regional Director of the World Health Organization
Today, Monday, Prime Minister Mustafa Al-Kazemi received the Regional Director of the World Health Organization, Mr. Ahmed Al-Mandhari and his accompanying delegation.
During the meeting, the Prime Minister indicated the government's keenness to improve the health situation and develop the level of services provided, despite the challenges and obstacles that Iraq has succeeded in overcoming.
His Excellency expressed his thanks to the World Health Organization, stressing the government's determination to restore consideration to the Iraqi health system; In order to be able to meet the aspirations of the citizen, by relying on self-efforts and with the help of international organizations.
For his part, Mr. Al-Mandhari praised Iraq's success in measures to confront the Corona pandemic, which prompted the organization to choose Iraq; To be one of five countries in the world to conduct the comprehensive review and development program for health systems adopted by the organization, and to confirm the success of Iraqi medical cadres in facing the challenge against the pandemic, the program will be carried out through cooperation with the Ministry of Health, the Ministry of Agriculture and the University of Baghdad, in addition to other parties.
Media Office of the Prime Minister7- March 2022
***************ARTICLE 1-B (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister Mustafa Al-Kazemi chairs the meeting of the Higher Committee for Health and National Safety
Today, Monday, the Supreme Committee for National Health and Safety held its regular meeting, headed by Prime Minister Mustafa Al-Kazemi.
Al-Kazemi was briefed on a comprehensive presentation of the developments of the pandemic, the measures taken to confront it, and the details of the precautions and precautions followed by the authorities responsible for confronting the pandemic, and his Excellency stressed the importance of continuing to follow preventive measures until comprehensive insurance is achieved and this crisis is successfully overcome.
The Prime Minister praised the efforts of the health cadres and their support bodies in the various competencies and duties assigned, who demonstrated the highest cases of commitment and dedication to serving the country and the citizen, and raising awareness of preventive measures and the importance of receiving and securing the vaccine in official outlets.
The meeting witnessed a discussion of Iraq's inclusion in a comprehensive review of the way to deal with emergency cases while ensuring health coverage.
After reviewing the general epidemiological situation in Iraq, the committee issued the following decisions:
1- Agreeing to be satisfied with presenting a certificate of vaccination (COVID-19), for those coming to or departing from Iraq, whether from Iraqi citizens or foreigners, who were found to have received one dose of the (Johnson & Johnson) vaccine, or two doses for the rest of the species, and not to demand a negative examination result ( PCR) upon leaving or entering Iraq starting from the first of April 2022, and those who cannot be vaccinated for health reasons submit their medical report certified by the Ministry of Health and the negative examination.
2- Adopting the attendance hours for students of primary studies in public and private colleges and universities for the next academic year 2022/2023, and according to the data and developments of the current epidemiological situation of the pandemic.
3- Directing all ministries, agencies not affiliated with the Ministry and non-governmental institutions to implement the decisions of the Supreme Committee for Health and National Safety and the decisions of the Council of Ministers, to follow up on the vaccination situation of its employees and students and to cooperate with the vaccination and health teams of the Ministry of Health to vaccinate them and follow up preventive measures within its institutions.
4- Continuing awareness campaigns for citizens through all media channels and state institutions, in addition to all social activities, and making efforts to urge them to adhere to preventive measures and encourage them to take the vaccine as soon as possible and at the nearest vaccination outlet.
Media Office of the Prime Minister7- March 202
*************ARTICLE 2 (from Government of Iraq twitter account)
There are several tweets posted in the last 24 hours; however, Google Translate would not allow translation to occur.
*************ARTICLE 3
Al-Halbousi receives the US Assistant Secretary of State03-07-2022 08:02 PM
Today, Monday, Parliament Speaker Muhammad al-Halbousi received Assistant Secretary of State for Iraq and Iran Jennifer Givetto, in the presence of the American ambassador to Iraq Matthew Tueller.
A statement from Al-Halbousi's office said, "During the meeting, bilateral relations between the two countries and the continuation of cooperation in accordance with the principles of the strategic dialogue were discussed, as well as a number of international and regional issues and files of common interest."
*************ARTICLE 4
In the document, an official complaint was filed against the Governor of the Central Bank03/07/2022Baghdad / Al-Mawrid News
Filing an official complaint against the Governor of the Central Bank and 3 ministers, due to corruption, harming the interests of the citizen, causing price hikes, and other violations.
*************ARTICLE 5
10 tips to learn English quickly and smoothlyLast update March 7, 2022
The Independent -- English is a fun language to learn, and although it is considered an accessible language and relatively easy to learn, with 750,000 words and spellings, learning English quickly may seem impossible even with the most professional and skilled teachers. Madam gives you ten tips to learn English smoothly from www.ef.com.
Here are the top tips on how to learn English quickly:
1. READ ALL YOU CAN GET
Classic literature, paperbacks, newspapers, websites, emails, your social media feed, cereal boxes. This gets to improve quickly, as exposure to acquired vocabulary gives you new examples in context, thus reinforcing those words in your mind. On the other hand, learning new words and expressions is essential to build your vocabulary, especially in a language like English that contains many words.
2. Actively notice the new vocabularyThis tip is classic for good reason. When we are learning, we often enjoy a new word of the phrase to the point that forgetting it seems impossible. But that's not true. Get used to carrying a funky notebook or using a tool like Evernote. When you hear or read a new word or expression, write it in its context: in a sentence with its meaning. This saves you time because you will not go back to that word and ask yourself: “What does this word mean?”
3. Talk to real people
Actively notice the new vocabularyWhat is language if communication is not made? Speaking a language that helps it stay in your head is much better than just reading or writing it. Just think about the number of times you've heard people say they "understand, but can't speak English." Find native speakers for an informal language exchange, sign up for a course, or take online lessons.
4. Subscribe to podcasts or YouTube channels (in English)Like humor, politics, blogging, and cooking, with topics covering every imaginable interest, there's an English-language podcast or Youtube channel available to you. Score a few and listen while you drive or watch while you commute to work. At first, you may find the original dialects difficult, but stick with them and you'll soon begin to understand what you're hearing.
5. Traveling abroad
travelling abroadIf there is a better way to learn English than to immerse yourself in it while living and studying in an English speaking country, it is no secret that English is the most widely spoken language in the world, and with a long list of countries to choose from, you can select the perfect learning environment.Follow more: The strangest languages in the world
6. Use your friendsDo you have friends who post online in English? It could be news articles, magazines, videos, talks, blog posts, songs or anything else, follow them and you will benefit a lot.
7. Ask / ask a lot of questionsCuriosity may have killed the cat, but it also pushed the language learner into fluency, and as you learn English, you'll soon be collecting a ton of questions. Be curious and do it, if you're on a course, ask your teacher, find answers in language blogs or websites, or ask other learners.
8. Take the lead from the stars
Mix up what you've learned by picking an English-speaking actor or singer, then head online, look up a bunch of their interviews, watch once to get the gist of the conversation, and then again, take the time to jot down the interesting expressions and words we hear. The slang, stories, humor, and anecdotes that come from this interview are sure to give us a lot to work with!
9. Start with what you really needYour study of English is more likely to go faster if you constantly remind yourself of your motivation to learn. Then focus on vocabulary related to your study. Refine your skills at the beginning of the conversation to use with other participants. Travel and tourism vocabulary may be your guide.
10. Don't be hard on yourself when you're frustratedWhen you start feeling like you're not doing well, don't say, "I don't speak English," or "I'll never understand this." Instead, say, “I am learning English and making improvements every day,” “I am much better than I was six months ago,” and other statements to remind yourself of the big positive.
*************
3-7-2022 Newshound Guru Pimpy Question: "When will they reinstate the Iraqi dinar?" That's the 64 million dinar question...they seem to be making that announcement now - that they have no intentions on changing the rate for this year but every time they say that then you see what appears to be conflicting articles coming out because they're still discussing it. They're still taking about it. If they were truly settled on the rate they would just say so and leave it alone but for weeks now we've been seeing article after article on conversations going back and forth about what to do with the Iraqi dinar exchange.
3-7-2022 Newshound Guru MilitiaMan There is a convergence of things that are on going that suggest there are things moving quickly now. The reduction in value of the currency on 12/19/2021 had a purpose and that purpose is over. The subject is clearly being talked about at length, that even included paying off repartitions to Kuwait and the lifting of Chapter VII sanctions. Add in that oil has risen to about $120.00 per barrel and they are automating the provinces through AYSCUDA...this week they are implementing all provinces at the borders. That income will be similar to and or equal to the oil revenues. All of which sill support the exchange rate that will benefit the citizens.
3-7-2022 Newshound Guru Godlover Article: "Deputy: The government will be formed after Eid Al-Fitr" ...per articles their intentions are to elect the POR & the PM in one session. Then PM’s cabinet needs formed, which according to several articles will happen after the holiday...My hopes are that once the POR & PM are elected, the budget can be sent to parliament for reading & vote during the cabinet formation process. I suspect the budget will not open until the PM’s cabinet is formed, bringing us closer to mid year possibly for the budget opening. God willing, the budget opens with what we all seek.
3-7-2022 Intel Guru Frank26 The governor of the CBI is...a figure head. He is composed of a structure that allows him to make announcements of decisions. He is backed up by the board of directors. There's many of them. They have been doing a masterful job. The only thing we need is to sit a government.
3-7-2022 Newshound Guru Pimpy Article: "For the first time in the history of he currency auction, the central bank sells less than 1 million in cash" ...It doesn't look like the banks are parting with the American dollars...
3-7-2022 Intel Guru MarkZ [via PDK] Coming out of Iraqi parliament they had expected a adjustment of the rate wihin 3 days…
3-7-2022 Newshound Guru Samson Article: "Oil nears $130 on fears of a ban on the Russian product" Quote "Analysts at Bank of America said that if most of Russia’s oil exports were cut, there could be a 5 million barrel or larger deficit, which means oil prices could double from $100 to $200 a barrel, while JPMorgan analysts said this week that oil may double. to $185 a barrel this year"
3-7-2022 Newshound Guru Desert Advisor Article: "Brent crude price exceeds $119 per barrel" Well this just happened. You think their [Iraq's] economy's growing and strengthening? I do.
3-7-2022 Newshound Guru Sandy Ingram Article: "Iraqi Parliament to met for reopening door for new presidential candidates" Once the new president is elected by the parliament then they will select a prime minister.
3-7-2022 Intel Guru Fleming ...starting tomorrow [Monday], all banks all over the world are using QFS (QUANTUM FINANCIAL SYSTEM), exclusively...Confirmed by a variety of sources in many positions of authority… No more SWIFT allowed... Evidence that this is underway can be found by the announcement made by Iraq’s Central Bank, yesterday, stating that Iraq will have a “new currency value” within the next 3 days. The CBI is closed today and tomorrow, so Tuesday it is!
Berwari, a former deputy in the Kurdistan Parliament, added that, “After the three days of receiving the names of the candidates, Parliament will take another 3 days to scrutinize, and another 3 days for the official and judicial authorities to examine the names, and on the following day the parliament can announce the day of the voting session.”
In a statement issued last Saturday, Parliament stipulated that the candidate for the President of the Republic be:
1. An Iraqi by birth and of Iraqi parents.
2. Fully qualified and over forty years of age.
3. He has a good reputation and political experience and is known for his integrity, uprightness, justice and loyalty to the homeland.
4. That his academic achievement is not less than the initial university degree recognized by the Ministry of Higher Education and Scientific Research in Iraq.
5. He has not been convicted of a dishonorable crime.
6. He shall not be covered by the provisions of the Accountability and Justice Law procedures or any procedures that replace them.
At the end of last week, Parliament had set last Saturday as the date for resolving the issue of the “presidential” candidates, amid the boycott of the Patriotic Union of Kurdistan.
And disrupted a series of decisions and interpretations issued by the Federal Court, the highest judicial authority in the country, the formation of the government at least two months from its previous dates, most notably the exclusion of Hoshyar Zebari, the most prominent presidential candidate from the competition.
Berwari points out that "the tripartite alliance is in a permanent movement around the independent groups in Parliament to obtain the two-thirds majority needed to pass the President of the Republic," and the number of this group is estimated at more than 40 seats.
The former parliamentarian confirms that Al-Kazemi, the current prime minister, is "one of the names put forward strongly to fill the position of prime minister again," noting that the latter "deserves a second chance."
Al-Kazemi assumed the premiership in a sensitive period in the country’s history that followed the resignation of former Prime Minister Adel Abdul-Mahdi following the October demonstrations that began in 2019.
Coordination framework plan
On the other hand, some parties to the “coordination framework” are rumored that they are still able to disrupt the session for selecting the president with the “blocking third.”
The interpretation of the Federal Court last month, had given the "coordinator" the opportunity to stop the vote on the "president" after requesting a quorum of two-thirds of the seats in Parliament in the voting session on the first.
Sources from within the "Coordination Committee" told (Al-Mada) that "national stability, which is a new bloc supposed to be led by former Prime Minister Nuri al-Maliki, will be announced within the next 72 hours."
The announcement of the supposed bloc, which mainly includes the coordination framework, was postponed for more than a week, as it was expected to be announced last Thursday.
The sources, who requested anonymity, said that "the national steadfastness will include the Patriotic Union of Kurdistan in addition to some Sunni forces."
According to those sources, the bloc, which will be announced soon, will have more than 130 seats, which means guaranteeing the blocking third.
And the "Coordination" appeared in an unenviable position in last Saturday's session, after only 62 deputies objected to opening the door for nomination again for the presidency, compared to 203 in favor of the decision.
But the sources confirm that what happened is a “political tactic so as not to reveal all the seats in the coordination framework,” indicating that after the bloc’s announcement, “we will conduct new negotiating rounds to form a consensus government.”
It is assumed that the new bloc "will conquer the Sadrist movement this evening, Monday (yesterday) with the number of its seats and the identity of the allied parties inside it," according to what the sources say.
Most of the parties to the "national stability" encourage the presentation of Haider al-Abadi, the former prime minister, and the source says that "there are other parties within the new bloc that may be satisfied with Al-Kazemi."
Berwari, a former deputy in the Kurdistan Parliament, added that, “After the three days of receiving the names of the candidates, Parliament will take another 3 days to scrutinize, and another 3 days for the official and judicial authorities to examine the names, and on the following day the parliament can announce the day of the voting session.”
In a statement issued last Saturday, Parliament stipulated that the candidate for the President of the Republic be:
1. An Iraqi by birth and of Iraqi parents.
2. Fully qualified and over forty years of age.
3. He has a good reputation and political experience and is known for his integrity, uprightness, justice and loyalty to the homeland.
4. That his academic achievement is not less than the initial university degree recognized by the Ministry of Higher Education and Scientific Research in Iraq.
5. He has not been convicted of a dishonorable crime.
6. He shall not be covered by the provisions of the Accountability and Justice Law procedures or any procedures that replace them.
At the end of last week, Parliament had set last Saturday as the date for resolving the issue of the “presidential” candidates, amid the boycott of the Patriotic Union of Kurdistan.
And disrupted a series of decisions and interpretations issued by the Federal Court, the highest judicial authority in the country, the formation of the government at least two months from its previous dates, most notably the exclusion of Hoshyar Zebari, the most prominent presidential candidate from the competition.
Berwari points out that "the tripartite alliance is in a permanent movement around the independent groups in Parliament to obtain the two-thirds majority needed to pass the President of the Republic," and the number of this group is estimated at more than 40 seats.
The former parliamentarian confirms that Al-Kazemi, the current prime minister, is "one of the names put forward strongly to fill the position of prime minister again," noting that the latter "deserves a second chance."
Al-Kazemi assumed the premiership in a sensitive period in the country’s history that followed the resignation of former Prime Minister Adel Abdul-Mahdi following the October demonstrations that began in 2019.
Coordination framework plan
On the other hand, some parties to the “coordination framework” are rumored that they are still able to disrupt the session for selecting the president with the “blocking third.”
The interpretation of the Federal Court last month, had given the "coordinator" the opportunity to stop the vote on the "president" after requesting a quorum of two-thirds of the seats in Parliament in the voting session on the first.
Sources from within the "Coordination Committee" told (Al-Mada) that "national stability, which is a new bloc supposed to be led by former Prime Minister Nuri al-Maliki, will be announced within the next 72 hours."
The announcement of the supposed bloc, which mainly includes the coordination framework, was postponed for more than a week, as it was expected to be announced last Thursday.
The sources, who requested anonymity, said that "the national steadfastness will include the Patriotic Union of Kurdistan in addition to some Sunni forces."
According to those sources, the bloc, which will be announced soon, will have more than 130 seats, which means guaranteeing the blocking third.
And the "Coordination" appeared in an unenviable position in last Saturday's session, after only 62 deputies objected to opening the door for nomination again for the presidency, compared to 203 in favor of the decision.
But the sources confirm that what happened is a “political tactic so as not to reveal all the seats in the coordination framework,” indicating that after the bloc’s announcement, “we will conduct new negotiating rounds to form a consensus government.”
It is assumed that the new bloc "will conquer the Sadrist movement this evening, Monday (yesterday) with the number of its seats and the identity of the allied parties inside it," according to what the sources say.
Most of the parties to the "national stability" encourage the presentation of Haider al-Abadi, the former prime minister, and the source says that "there are other parties within the new bloc that may be satisfied with Al-Kazemi."
In order to expedite the formation of the new government... the Sadrist movement is holding "secret talks" with the coordinating framework
Iraqi political sources revealed in the capital, Baghdad, that new meetings were held between political blocs from the "Coordination Framework" and the "Sadr Movement", to discuss the crisis of forming a government, in the first direct contact between the two political camps in about a month.
The meetings focused on discussing the resumption of dialogue and preventing the prolongation of the political crisis that the country has been witnessing for several months, following the early legislative elections on October 10 last year.
The leader of the "Coordination Framework" coalition, Ayed Al-Hilali, said that "the past hours witnessed the return of dialogues between the framework and the current, in order to reach new understandings related to the crisis of forming the government, in a way that satisfies all political actors."
Al-Hilali indicated that "the dialogue was directly aimed at bringing the views between the two parties closer to realize the importance of expediting the formation of the new government, which cannot be formed without the agreement of the two parties," adding that the coming days will likely witness dialogues at the level of leaders of political blocs, expressing optimism in reaching a compromise between the two sides.
Al-Hilali did not mention the development that revived the dialogue between the two sides, but political sources in Baghdad said that internal mediation, including religious and clan ones, prompted a meeting at the level of representatives of the two sides.
The current:
A member of the “Sadr movement” confirms the return of dialogue between the two sides, but he said that this “does not mean a retreat from the majority government project,” noting that the “Sadr movement” welcomes blocs and forces from within the “coordinating framework” alliance, with the exception of Nuri al-Maliki and his alliance. .
He considered that the new dialogue is a last attempt to solve the political crisis in a satisfactory manner, otherwise Parliament will resolve the crisis through the majority of the Triple Alliance, in reference to the blocs of the "Sadr movement", the "Sovereignty" alliance, and the "Kurdistan Democratic Party."
He stressed that progress in the current dialogues is contingent on holding a meeting between al-Sadr and the rest of the leaders of the other blocs in the coming period.
Oil traders expect Brent crude to reach $200 a barrel this month
Traders are buying options contracts, expecting that oil prices will rise further after reaching their highest level since 2008, while some have placed low-cost bets that futures contracts will rise above $200 before the end of March.
Prices of "call options" contracts rose to higher prices for crude oil on Monday, as the market assessed the possibility of a supply ban from Russia, one of the world's largest exporters. At least 200 contracts of the May Brent futures call option were traded at $200 a barrel strike price on Monday, according to ICE Futures Europe data. These options contracts expire on March 28, three days before the contract is settled. Its purchase price jumped 152% to $2.39 a barrel.
Since Friday, the price of the call option contract at the price of $150 per barrel of the June Brent contract has doubled, while the cost of the call option contract has jumped at the price of $180 by 110%. The Brent contract to its nearest month maturity in May rose significantly early Monday, as traders panicked over discussions of a Russian crude embargo, as well as amid Libyan supply disruptions and delays in expected progress in Iran nuclear talks.
Last week, JPMorgan said that Brent crude could reach $185 a barrel by the end of this year if Russian supplies continue to be disrupted, while the Australia and New Zealand Banking Group Ltd. expected that about 5 million barrels per day of pipelines and oil supplies would be affected. seaborne imposition of new penalties.
Russia is the third largest oil producer in the world after the United States and Saudi Arabia, and is a member of the "OPEC +" oil alliance. It exported 7.8 million barrels per day of crude oil, condensate and petroleum products in December of last year, according to the International Energy Agency, with major fuels such as diesel, fuel oil, gasoline, and naphtha being exported to buyers in Europe, the United States and Asia.
Iraqi political sources revealed in the capital, Baghdad, that new meetings were held between political blocs from the "Coordination Framework" and the "Sadr Movement", to discuss the crisis of forming a government, in the first direct contact between the two political camps in about a month.
The meetings focused on discussing the resumption of dialogue and preventing the prolongation of the political crisis that the country has been witnessing for several months, following the early legislative elections on October 10 last year.
The leader of the "Coordination Framework" coalition, Ayed Al-Hilali, said that "the past hours witnessed the return of dialogues between the framework and the current, in order to reach new understandings related to the crisis of forming the government, in a way that satisfies all political actors."
Al-Hilali indicated that "the dialogue was directly aimed at bringing the views between the two parties closer to realize the importance of expediting the formation of the new government, which cannot be formed without the agreement of the two parties," adding that the coming days will likely witness dialogues at the level of leaders of political blocs, expressing optimism in reaching a compromise between the two sides.
Al-Hilali did not mention the development that revived the dialogue between the two sides, but political sources in Baghdad said that internal mediation, including religious and clan ones, prompted a meeting at the level of representatives of the two sides.
The current:
A member of the “Sadr movement” confirms the return of dialogue between the two sides, but he said that this “does not mean a retreat from the majority government project,” noting that the “Sadr movement” welcomes blocs and forces from within the “coordinating framework” alliance, with the exception of Nuri al-Maliki and his alliance. .
He considered that the new dialogue is a last attempt to solve the political crisis in a satisfactory manner, otherwise Parliament will resolve the crisis through the majority of the Triple Alliance, in reference to the blocs of the "Sadr movement", the "Sovereignty" alliance, and the "Kurdistan Democratic Party."
He stressed that progress in the current dialogues is contingent on holding a meeting between al-Sadr and the rest of the leaders of the other blocs in the coming period.
Oil traders expect Brent crude to reach $200 a barrel this month
Traders are buying options contracts, expecting that oil prices will rise further after reaching their highest level since 2008, while some have placed low-cost bets that futures contracts will rise above $200 before the end of March.
Prices of "call options" contracts rose to higher prices for crude oil on Monday, as the market assessed the possibility of a supply ban from Russia, one of the world's largest exporters. At least 200 contracts of the May Brent futures call option were traded at $200 a barrel strike price on Monday, according to ICE Futures Europe data. These options contracts expire on March 28, three days before the contract is settled. Its purchase price jumped 152% to $2.39 a barrel.
Since Friday, the price of the call option contract at the price of $150 per barrel of the June Brent contract has doubled, while the cost of the call option contract has jumped at the price of $180 by 110%. The Brent contract to its nearest month maturity in May rose significantly early Monday, as traders panicked over discussions of a Russian crude embargo, as well as amid Libyan supply disruptions and delays in expected progress in Iran nuclear talks.
Last week, JPMorgan said that Brent crude could reach $185 a barrel by the end of this year if Russian supplies continue to be disrupted, while the Australia and New Zealand Banking Group Ltd. expected that about 5 million barrels per day of pipelines and oil supplies would be affected. seaborne imposition of new penalties.
Russia is the third largest oil producer in the world after the United States and Saudi Arabia, and is a member of the "OPEC +" oil alliance. It exported 7.8 million barrels per day of crude oil, condensate and petroleum products in December of last year, according to the International Energy Agency, with major fuels such as diesel, fuel oil, gasoline, and naphtha being exported to buyers in Europe, the United States and Asia.
The latest news: Al-Sadr and Al-Tirem reach consensus on several points.. Al-Kazemi is still the most fortunate candidate for Al-Sadr, competing with Al-Abadi and Tawfiq Allawi!
A political source revealed, today, Tuesday, the most likely candidates for the post of Iraqi Prime Minister.
The source told the source that "the most likely candidates for the position of Prime Minister are Haider Mustafa Al-Kazemi at the fore, followed by Al-Abadi, and Muhammad Tawfiq Allawi."
The source added that "understandings and meetings are still continuing between the forces of the coordination framework and the Sadrist movement to form the largest bloc in Parliament."
And a political source said, earlier today, Tuesday, that the leader of the Sadrist movement stipulated several points on the leaders of the coordination framework for the purpose of forming the largest bloc, and while noting that the framework made pledges to al-Sadr, he suggested that the formation of an alliance between al-Sadr and the framework under the title “the largest bloc” was likely.
The source told, "The framework forces pledged to the leader of the Sadrist movement, Muqtada al-Sadr, not to delay corruption files for more than 45 days, as part of their efforts to ally with the Sadrist movement and participate in the next government."
He added, "The response came from al-Sadr that the (factions) must be dissolved and the mobilization preserved, and that the prime minister be nominated alone, while giving the framework the right of veto against one of the five candidates, and if the framework is accepted, al-Sadr will accept the participation of all parties to the framework in the government."
The source indicated that "Al-Sadr was angry at the amendment of the paper that was submitted to the framework, but the discussion between the two parties ended in great agreement, which confirms the presence of great signs for Al-Sadr's prospects with the framework's forces to form the largest bloc."
A political source revealed, today, Tuesday, the most likely candidates for the post of Iraqi Prime Minister.
The source told the source that "the most likely candidates for the position of Prime Minister are Haider Mustafa Al-Kazemi at the fore, followed by Al-Abadi, and Muhammad Tawfiq Allawi."
The source added that "understandings and meetings are still continuing between the forces of the coordination framework and the Sadrist movement to form the largest bloc in Parliament."
And a political source said, earlier today, Tuesday, that the leader of the Sadrist movement stipulated several points on the leaders of the coordination framework for the purpose of forming the largest bloc, and while noting that the framework made pledges to al-Sadr, he suggested that the formation of an alliance between al-Sadr and the framework under the title “the largest bloc” was likely.
The source told, "The framework forces pledged to the leader of the Sadrist movement, Muqtada al-Sadr, not to delay corruption files for more than 45 days, as part of their efforts to ally with the Sadrist movement and participate in the next government."
He added, "The response came from al-Sadr that the (factions) must be dissolved and the mobilization preserved, and that the prime minister be nominated alone, while giving the framework the right of veto against one of the five candidates, and if the framework is accepted, al-Sadr will accept the participation of all parties to the framework in the government."
The source indicated that "Al-Sadr was angry at the amendment of the paper that was submitted to the framework, but the discussion between the two parties ended in great agreement, which confirms the presence of great signs for Al-Sadr's prospects with the framework's forces to form the largest bloc."
Today, Tuesday, the Federal Court held its session regarding the lawsuit related to raising the dollar exchange rate and establishing the Sovereign Wealth Fund.
Our correspondent, who attended the court session, said that the Federal Court held its session regarding "the 32 federal lawsuit, regarding raising the exchange rate and establishing the sovereign wealth fund."
He added, that the Federal Supreme Court assigned three experts to express the economic and financial opinion in the above lawsuit, and the experts are Bassem Antoine, Abdul Rahman Al-Mashhadani, and Abdul Basit Turki.
He added, that the Federal Supreme Court assigned three experts to express the economic and financial opinion in the above lawsuit, and the experts are Bassem Antoine, Abdul Rahman Al-Mashhadani, and Abdul Basit Turki.
The Federal Court summons the Minister of Finance and the Governor of the Central Bank in the next session
The Federal Court summons the Minister of Finance and the Governor of the Central Bank to appear before the court at the next session, to postpone the pleading to 3/14
The Federal Court summons the Minister of Finance and the Governor of the Central Bank to appear before the court at the next session, to postpone the pleading to 3/14
The Iraqi ministers issued 7 decisions to confront the rise in prices..which include canceling merchandise fees
The Iraqi Council of Ministers, in its session held today, Tuesday, headed by Prime Minister Mustafa Al-Kazemi, approved an additional package of decisions to confront the crisis of rising global prices and take the necessary measures to support food security in the country.
The Cabinet, according to a statement issued by the Prime Minister's Media Office, issued 7 decisions; The most prominent of these is the provision of a government grant of 100,000 dinars for one time in the name of (the high cost of living grant) to retirees (those who receive a salary of less than one million dinars per month), and employees (those who receive a salary of less than 500 thousand dinars per month, and to social welfare employees, in addition to those with no income.
The Council of Ministers decided to zero the customs duty on basic goods such as foodstuffs, building materials and necessary consumables for a period of two months and to reconsider the decision after examining the crisis, and to cancel the materials prohibited from being imported for the purposes of protecting the product from foodstuffs, consumer goods, and medicines for a period of two months, and to reconsider after examining the developments of the crisis.
The Council also decided to release two quotas for foodstuffs in the ration card immediately, to start procedures for providing the quota for the month of Ramadan, to reconsider the ration card budget, and to postpone the collection of taxes on traders who import foodstuffs.
The Council of Ministers decided to adjust prices in the markets and to take legal measures against violators, and to finance the amounts at a rate of 12/1 from the Ministry of Finance, according to the Council of Ministers’ decision (15 of 2022).
The Council of Ministers directed the implementation of these decisions starting from March 15, 2022.
The Iraqi Council of Ministers, in its session held today, Tuesday, headed by Prime Minister Mustafa Al-Kazemi, approved an additional package of decisions to confront the crisis of rising global prices and take the necessary measures to support food security in the country.
The Cabinet, according to a statement issued by the Prime Minister's Media Office, issued 7 decisions; The most prominent of these is the provision of a government grant of 100,000 dinars for one time in the name of (the high cost of living grant) to retirees (those who receive a salary of less than one million dinars per month), and employees (those who receive a salary of less than 500 thousand dinars per month, and to social welfare employees, in addition to those with no income.
The Council of Ministers decided to zero the customs duty on basic goods such as foodstuffs, building materials and necessary consumables for a period of two months and to reconsider the decision after examining the crisis, and to cancel the materials prohibited from being imported for the purposes of protecting the product from foodstuffs, consumer goods, and medicines for a period of two months, and to reconsider after examining the developments of the crisis.
The Council also decided to release two quotas for foodstuffs in the ration card immediately, to start procedures for providing the quota for the month of Ramadan, to reconsider the ration card budget, and to postpone the collection of taxes on traders who import foodstuffs.
The Council of Ministers decided to adjust prices in the markets and to take legal measures against violators, and to finance the amounts at a rate of 12/1 from the Ministry of Finance, according to the Council of Ministers’ decision (15 of 2022).
The Council of Ministers directed the implementation of these decisions starting from March 15, 2022.
India offers Iraq its expertise in the field of electricity and they agree on investment loans
India has expressed its desire to transfer its technical experiences in the field of energy in Asia and the Gulf states, and to compete with its expertise in the Iraqi energy market.
A statement of the Ministry of Electricity, of which {Euphrates News} received a copy, stated that "the tasked with the duties of the Minister of Electricity, Adel Karim, received on Monday in his office at the ministry's headquarters, the Indian ambassador in Iraq (Prashant Bisai), in a visit aimed at developing bilateral relations and exchanging experiences between the two countries in the fields of energy".
During the meeting, the Indian ambassador reviewed the prospects for future cooperation through the old friendship bonds that bind the two countries, and the possibility of Indian companies wishing to open up to the Iraqi energy market through their similar works in the Gulf countries and some Asian countries, in the field of constructing generation, transformative and secondary stations, and energy transmission lines. due to the quality of their technical experience.
After explaining the number of important projects that India is working to accomplish through the profiles of its companies operating in the energy field, the Minister in charge reviewed the work of the Ministry of Electricity, its plans to develop the development of the three sectors, and the size of the tasks performed by the ministry’s staff, and that the ministry is open to all reputable international companies Good deeds, provided that several conditions are met, such as economic feasibility, letter of guarantee, and financial efficiency, which qualifies them to work on Iraqi lands.
The two sides also discussed solar energy projects and India's experiences in Iraq in this important field, and the Indian ambassador invited his country to find a joint bilateral cooperation protocol, which includes the exchange of experiences through training workshops in various fields of energy.
The two sides agreed to establish financial cooperation through investment loans to complete the financing of some existing projects.
A statement of the Ministry of Electricity, of which {Euphrates News} received a copy, stated that "the tasked with the duties of the Minister of Electricity, Adel Karim, received on Monday in his office at the ministry's headquarters, the Indian ambassador in Iraq (Prashant Bisai), in a visit aimed at developing bilateral relations and exchanging experiences between the two countries in the fields of energy".
During the meeting, the Indian ambassador reviewed the prospects for future cooperation through the old friendship bonds that bind the two countries, and the possibility of Indian companies wishing to open up to the Iraqi energy market through their similar works in the Gulf countries and some Asian countries, in the field of constructing generation, transformative and secondary stations, and energy transmission lines. due to the quality of their technical experience.
After explaining the number of important projects that India is working to accomplish through the profiles of its companies operating in the energy field, the Minister in charge reviewed the work of the Ministry of Electricity, its plans to develop the development of the three sectors, and the size of the tasks performed by the ministry’s staff, and that the ministry is open to all reputable international companies Good deeds, provided that several conditions are met, such as economic feasibility, letter of guarantee, and financial efficiency, which qualifies them to work on Iraqi lands.
The two sides also discussed solar energy projects and India's experiences in Iraq in this important field, and the Indian ambassador invited his country to find a joint bilateral cooperation protocol, which includes the exchange of experiences through training workshops in various fields of energy.
The two sides agreed to establish financial cooperation through investment loans to complete the financing of some existing projects.
Alia Nassif calls for the implementation of the reform paper submitted by the Minister of Finance
Today, Tuesday, Representative Alia Nassif praised the Minister of Finance, Ali Abdel Amir Allawi, who presented a law proposal to the House of Representatives to support the poor, the weak, and vulnerable groups in society.
She said in a statement today that "presenting this reform paper expresses a sense of responsibility towards our people, especially the fragile class, the families without breadwinners, and the families of the martyrs and the wounded. Unfortunately, today there are thousands of families who do not find their daily strength."
She pointed to "the necessity of rationing resources in a way that prevents wasting them on thieves and the corrupt, which will have a positive impact on the income of the poor and the provision of food security and social security."
Nassif called on the executive and legislative authorities to "directly implement the reform paper and not make it a formal paper like its predecessors, while keeping it away from all-consuming political bidding."
Today, Tuesday, Representative Alia Nassif praised the Minister of Finance, Ali Abdel Amir Allawi, who presented a law proposal to the House of Representatives to support the poor, the weak, and vulnerable groups in society.
She said in a statement today that "presenting this reform paper expresses a sense of responsibility towards our people, especially the fragile class, the families without breadwinners, and the families of the martyrs and the wounded. Unfortunately, today there are thousands of families who do not find their daily strength."
She pointed to "the necessity of rationing resources in a way that prevents wasting them on thieves and the corrupt, which will have a positive impact on the income of the poor and the provision of food security and social security."
Nassif called on the executive and legislative authorities to "directly implement the reform paper and not make it a formal paper like its predecessors, while keeping it away from all-consuming political bidding."
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