Bondlady’s Corner

  In Bondlady’s Corner

Iraq Economic News and Points to Ponder Saturday Evening 2-10-24

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Al-Mandalawi: These are the decisions of the House of Representatives regarding Iraqi sovereignty

Saturday 10, February 2024 21:09 | PoliticalNumber of readings: 298

Baghdad / NINA / Acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, today, Saturday, directed the formation of a parliamentary committee to follow up and support the government’s negotiations to end the missions of the international coalition forces.

Al-Mandalawi directed the Legal, Security, and Defense Committees to submit a report in the next session regarding the request submitted by the representatives regarding the proposed law to remove foreign forces from the country, stressing that “the House of Representatives will approach the Commander-in-Chief of the Armed Forces/Prime Minister, to host those concerned in the General Command of the Armed Forces and the Ministry of Foreign Affairs.” Foreign Affairs during the current week./End 5

Al-Sistani’s Office Sets The Beginning Of The Month Of Shaban

Iraq   Saturday, February 10, 2024 6:21 PM  Baghdad/National News Center  The office of the Supreme Religious Authority, Sayyed Ali al-Sistani, announced today, Saturday, the date of the first of the holy month of Shaban.

The office said in a statement received by the National News Center, “His Eminence Sayyid al-Sistani (may his soul be long) determined that tomorrow, Sunday, will be the continuation of the month of Rajab, and Monday, corresponding to 2/12/2024 AD, will be the first of the glorious month of Shaban for the year 1445 AH.”

Iraqi Stock Exchanges…Exchange Rates Stabilize At The Barrier Of 152 Thousand Per Hundred Dollars

Money  and business   Economy News – Baghdad   The exchange rates of the dollar, on the Iraqi stock exchanges, recorded relative stability during today’s trading, Saturday.

The exchange rates on the Al-Kifah Stock Exchange in the capital, Baghdad, reached 152,550 dinars per 100 dollars, while they recorded 152,750 dinars on the Basra Stock Exchange.

In Sulaymaniyah Governorate, the exchange rate reached 152,350 dinars per 100 dollars.

186 views  02/10/2024 – 12:36 PM

Parliament Finance Issues A Call To The Government Regarding The Private Sector And Job Creation

Money  and business Economy News – Baghdad  Today, Saturday, a member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, stressed the need for the government to take firm steps towards ensuring the rights of the private sector and paving the way for it to resolve the labor and unemployment crisis in the country.

Al-Kadhimi said in an interview followed by Al-Eqtisad News, “The private sector is the main factor in developing the economy and creating wealth and jobs, indicating that the government must adopt policies and reforms that encourage local investment and production.”

He added, “Among the practical steps that must be taken is to encourage the allocation of an amount for the industrial initiative by opening factories and launching internal industry, in addition to encouraging agricultural initiative and facilitating the work of the private sector while implementing the private sector security law so that there is retirement for retirees from the private sector.”

The member of Parliamentary Finance stressed, “The government must consult the private sector in order to advance all these aspects, as developing the work of the private sector is not limited to relying on the Ministry of Industry or the Ministry of Agriculture and other ministries, but rather taking into account the experiences and opinions of the private sector, including merchants, businessmen, and industrialists.”

Al-Kadhimi continued, “Supporting investment, as well as the housing sector, which can draw or attract labor in the tens of thousands, if not hundreds of thousands, are necessary matters,” pointing out that “these steps must be considered by the government to end the issue of appointments and job slackness and solve a large part of the problem.” The problem of the job crisis or unemployment.

Al-Kadhimi concluded by saying, “The Parliamentary Finance Committee supports all efforts aimed at strengthening the role of the private sector and improving the economic and social situation of citizens.”

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Oil Reveals A Map Of Its Investments In The Gas Sector And Estimates The Total Production Volume

Energy   Economy News – Baghdad  On Saturday, the Ministry of Oil clarified the details of its plans to invest in gas and the expected production volume, and while it confirmed that the current contracts signed included all fields that could increase national production, it specified the amount of gas expected to be produced during the current year.

Ministry spokesman Assem Jihad told the official news agency, “The ministry has several contracts for gas investment, the most important of which is its contract with the French company Total, which was signed last year and includes four very important contracts concerned with infrastructure, development of the oil industry, and renewable energy.”

He added, “The contract includes investing in gas with a capacity of 600 million standard cubic feet per day, in two stages, the first stage is 300 million standard cubic feet per day, and the second stage is 300 million standard cubic feet,” indicating that “this step is important to stop burning gas and convert this energy into useful.” It supplies industries in general, the electricity sector, petrochemical industries, and all industries related to that.”

He continued, “The contract with Total was an important step with the global energy giant and certainly this is an important addition to the oil industry in Iraq,” noting that “Total’s contract includes gas investment in five fields in southern Iraq, including Majnoon, West Qurna, Al-Lhais, and Al-Tawi.”

Jihad said, “We also have another contract with the Basra Gas Company, which was established after 2010 in agreement with Shell and Mitsubishi. It is a joint national company that invests gas from three important fields, including Rumaila and Zubair, and we expect it to add 200 million standard cubic feet per day after its completion.”

He stated, “The Ministry’s plans aim to invest gas from all fields that are expected to add large quantities to the gas sector in Iraq, and this is what we have worked on,” pointing out that “these five fields are very important and are relied upon as the primary weight for raising Iraq’s gas production capacity.”

He stated that “the Ministry also recently signed a contract to invest in the Nahran Bin Omar field, which will produce 150 million standard cubic feet in the first phase. If work develops and production in this field is expanded, it is possible to add another 150 million cubic feet.”

He continued, “All possible fields that are expected to increase the volume of national production have been contracted for,” noting that “raising the level of production will be gradual, and its peak will be in 2028.”

He pointed out that “these projects require complex technology and time to invest, and the government is pressuring the implementing companies to reduce the time between two to five years.”

He added in his speech, “We also have the Halfaya gas project, which will add 300 million standard cubic feet per day in the last quarter of this year, and also about 70 million standard cubic feet will be added from the investment of the Dhi Qar fields,” pointing out that “the investment of the Dhi Qar fields, which… It includes the Al-Gharraf and Nasiriyah fields by about 200 million standard cubic feet, thus adding approximately half the amount to national production, which will reduce the volume of imports.

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Points To Ponder on Anxiety about the Future

Fear is created not by the world around us, but in the mind, by what we think is going to happen.- Elizabeth Gawain

Proust has pointed out that the predisposition to love creates it’s own objects: is this not also true of ear?- Elizabeth Bowen

Fear breeds fear.- Byron Janis

Fear to let fall a drop and you spill a lot.- Malay proverb

The truly fearless think of themselves as normal. – Margaret Atwood

Be not afraid of life. Believe that life is worth living, and your belief will help create the fact. – William James