Early Friday AM Iraqi News 3-25-22 — Dinar Recaps (2024)

Early Friday AM Iraqi News 3-25-22
Iraq Between Two Quarrels
FRI, 03-25-2022, AM 9:50 TAYSEER AL-ASSADI

Iraq between two quarrelsBy: Mustafa FahsThe tripartite alliance (Al-Sadr - Barzani - Al-Halbousi) resolved its issue, and announced the completion of its political and constitutional quorum in preparation for the next parliamentary session on Saturday, the 26th of this month.

In the political quorum, the coalition established its vertical structure (Kurdish - Sunni - Shiite) and specified the names of its candidates for the presidency and the ministers, and this means that the Iraqi political forces will enter the parliament session without consensus, which indicates that the coalition adheres to the project of a national majority government under the slogan “Save the nation.”

“And blocking the road, even temporarily, on consensus with other forces, specifically Kurdish and Shiite, which raises the question about the possibility of the success of the session, i.e., the completion of its constitutional quorum.

In the constitutional quorum, the language of numbers intervenes away from the struggle to determine the largest bloc in the Federal Court or under the dome of Parliament, but it is clear that the Shiite parties (the current and the framework) need approximately the same number of votes, between 30 to 35 votes as a prerequisite for the former to own a majority of 220 seats

As for the second, he needs it in order to raise the number of his seats to 110 in order to secure the blocking third, and so far there is ambiguity in the number of numbers, doubting that the two parties have not yet been able to reach their goals, so a sharp competition is taking place between them to attract independent representatives (the majority of whom are Shiites).

They have turned into a weighty egg, as their position next Saturday will determine not only the shape of the next power, but their choices that will pave the way for the reconfiguration of the system or its eventual fragmentation.

So, between a political quorum and a constitutional one, Iraq is going through a phase of re-formation, which may open a clash between the remainder of the 2003 regime and the new (incomplete) regime that began to form as a public space on October 1, 2019, and its political features crystallized in the parliamentary elections 2021.

But the dilemma facing the entire Iraqi political process is that adherents to the former insist on its horizontal formations, that is, component majorities and consensual power, and this means a call to share power in accordance with what was established by the 2003 regime and away from the political and social repercussions of the “October Uprising” and the results of the recent elections, i.e. What can be considered a denial of the results of the intifada and the elections.

As for the second, it is going through a difficult ordeal, as a result of discrepancies in the approach, which prevent a complete fusion between its components, especially the Shiites, that is, between those that left the 2003 regime and were formed after 2021. The dilemma here is that the strongest party in what can be called the 2021 regime has not cut its ties with some of the parties to the 2003 regime.

He also settles his accounts with each other, and is accused by his opponents in the two systems of trying to isolate the first and inherit the second. As for its other components, especially those that were formed in 2019 and participated in the elections, they are still divided in their understanding of the political process.

Some of them are stuck in their position on all the political class without exception and refuse to enter into any kind of partial or total settlements, while the wisest party exercises political flexibility. It calls for some pragmatism and conditional participation with guarantees under the slogan of priorities in political choices.

Therefore, the task of the independents (the Shiites) is the most difficult, and they have only two options; Either refuse to participate in the political process and remain in the opposition, or engage in gradual participation in power.

Therefore, the last word in the upcoming parliament session is for the Shiite independents, as they are the minority that will control the future of the majority, after they have a quorum (constitutional and political), either they give their confidence to one of the parties or they withhold it from everyone, and in both cases the repercussions are great and dangerous, so The first session is not only a condition for holding a quorum, both political and constitutional, but there is a need for a historic settlement that the current political class seems not yet qualified to achieve.http://non14.net/public/145754

Dollar Exchange Rates On The Iraqi Stock Exchange

Baghdad - I know The dollar exchange rates witnessed stability in the local markets.

Today, Friday, the selling prices of the dollar were 147,250 dinars per 100 dollars, while the purchase prices of the dollar were 147,000 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, while 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. https://www.ina.iq/152083--.html

Korean Newspaper: Iraq Seeks To Turn Al-Faw Port Into One Of The 12 Largest Ports In The World By 2041

2022-03-25Yes Iraq: Follow up

The South Korean newspaper, "Korea Times", reviewed the development of Korean-Iraqi relations through Daewoo, which will lead to work in the Faw port to turn it into one of the 12 largest ports in the world by 2041.

The newspaper reported that Daewoo said in a statement that its CEO, Baek Jong-Wan, met the Iraqi minister to explain the current construction situation of the Faw port in Iraq, and promised him to complete the project successfully.

The Korean newspaper pointed out that the five-day visit of Minister Al-Shibli, accompanied by the Director-General of the General Company for Iraqi Ports, Farhan Al-Fartousi, to South Korea came in response to an invitation he received from the Korean Minister of Oceans and Fisheries, Moon Seung-hyuk.

The newspaper quoted Al-Shibli as saying that he thanks Daewoo for its leadership in the construction of the infrastructure of the Iraqi port “in light of the difficult situation in the country,” adding that during his current visit to South Korea, he was briefed on technical aspects related to the company’s work and the Ministry of Oceans and the skills they have About the establishment and management of a Korean-style port.

Al-Shibli added that he "expects Daewoo to play the role of providing comprehensive solutions."

According to the Korean newspaper, the Iraqi government has a plan to invest 53 trillion won to develop the Faw port in Basra, and turn it into one of the 12 largest ports in the world by 2041.

The newspaper reported that Daewoo won a total of nine construction projects worth about $3.78 billion within the FAO development project, which began in 2014, with the construction of breakwaters.

The newspaper added that the Iraqi government is also seeking cooperation from the Korean government, in order to see, for example, the technical expertise in managing the Busan port, which is a major export center in South Korea, adding that Daewoo hopes in return to lead the cooperation at the governmental level between The two countries, and providing future job opportunities by gaining experience in operating a foreign port in Iraq.

The report concluded with statements by a Daewoo official saying that "the visit of senior Iraqi officials to Korea will contribute to consolidating trust and the relationship between the Iraqi government and Daewoo, and we will actively participate in the future in infrastructure projects in Iraq." LINK

Economist: Poverty Reduction Measures Will Not Work In Light Of High Prices

Economic Last Update 03/25/2022 | 5:05 AMInformation / Baghdad... Economist Ihsan Al-Kinani stressed that the measures taken by the government under the pretext of relieving the people as a result of high prices will not work, as the poverty rate will continue to rise.

Al-Kinani told "Al-Information", that "the government's measures to reduce prices are just a media aura that did not change anything from reality, as prices are still high and there has been no significant decrease on the part of the citizen."

He added, "The world is adapting to changes, especially with regard to food security, but the main problem in Iraq lies in the lack of a real will for industry and to cover local needs, which makes everyone depend on imports, at a time when markets are witnessing a rise in the dollar exchange rate due to a government decision that came to benefit them." But it hurt the people a lot.”

And he indicated that "restoring the cash reserve of the Central Bank and overcoming the economic crisis of the government cannot be through increasing the poverty rate, and achieving financial abundance through the people, as the ideal solution to reduce the poverty rate depends on reducing the exchange rate of the dollar, and compensating this decrease with the financial surplus from oil prices that exceeded $120 a barrel. finished 25https://almaalomah.me/2022/03/25/589084/

The Farmers Union Monitors An Unprecedented Phenomenon In An Iraqi Governorate

EconomicLast Update 03/24/2022 | 2:42 PM Information/ Diyala..An official report of the Local Federation of Agricultural Associations in Diyala revealed, on Thursday, an unprecedented phenomenon within the province.

The head of the union, Raad al-Tamimi, said in an interview with "Information", that "the drought crisis takes varying degrees of severity between regions in Diyala, pointing out that the union has formed a field investigation committee to determine its size through successive visits."

Al-Tamimi added, "The eastern sector of Diyala, especially the villages of Baladrooz district (30 km east of Baquba), is the most affected by the drought crisis, which has reached levels so terrifying that even wild birds have started migrating from the lands and the rest of the orchards in a phenomenon perhaps unprecedented in Diyala as a whole, which is an indicator On the scale of the tragedy of drought.”

He pointed out that "90% of the farmers are unemployed because of their inability to cultivate their lands, and the rest who own orchards are also on the path of destruction, especially since the summer of 2022 will be the most severe." finished/ 25 fhttps://almaalomah.me/2022/03/24/588965/

With The Month Of Ramadan Approaching..A Security Deployment In Anbar To Follow The Markets And Protect The People

Posted On2022-03-25By SotaliraqThe cities and markets of Anbar Governorate, western Iraq, are witnessing a widespread security presence in the main streets and markets, as part of measures to follow up on the price hike crisis and hold violators accountable, as well as tightening measures that would maintain the security stability witnessed by Anbar, especially with the approaching month of Ramadan.

The mayor of Ramadi district, the governorate center, Ibrahim Al-Awsaj, says that “a specific security plan will not be implemented in the month of Ramadan, and the situation will be as it is now, with increased security commitments in the post-Iftar times.”

Al-Awsaj added, “The security services were instructed to adhere to their duties more, because the curfew hours will be from two to five in the morning, and among the Ramadan rituals among Anbaris is that they leave their homes after breakfast until the end of the dawn prayer, to spend their time at their workplaces or with relatives and friends.”

And he indicated that "the security services are fully prepared to implement the aforementioned procedure, which has become a normal procedure for us, especially after the liberation of the province from the grip of ISIS."

Al-Awsaj stressed that “the security measures in Anbar are going to the fullest, including the large deployment of security forces during Mondays and Thursdays of every week, which are known as weddings and parties, in order to hold accountable those who shoot bullets and other violators of the law.”

He pointed out that "the procedures for following up on markets and holding price manipulators accountable, as well as the tasks of following up on the drug phenomenon and hunting down and arresting terrorists, continue throughout the year." He stressed, "The security situation in Anbar is very well controlled." LINK

Quadruple Summit In Aqaba .. Al-Kazemi To Jordan To Meet Leaders Of Three Countries

Posted On2022-03-25By SotaliraqAn informed source said today, Thursday, that the Iraqi Prime Minister, Mustafa Al-Kazemi, will travel to the Jordanian capital, Amman, within hours

The source informed that "in the coming hours, Prime Minister Mustafa Al-Kazemi will travel to Jordan to participate in a four-way summit that will bring him together with King Abdullah II, Abdel Fattah Al-Sisi and Mohammed bin Zayed in the Jordanian city of Aqaba."

The upcoming summit is the second of its kind hosted by Jordan; The first summit was held in August 202 in the Jordanian capital, Amman.

The three countries formed a joint coordination council in light of the results of the first tripartite summit.

The three countries concluded joint and bilateral economic agreements, mostly focusing on energy, trade and investment.LINK

Baghdad Chamber Of Commerce Meets With Traders To Discuss Price Hikes

Posted On 2022-03-25By SotaliraqThe Baghdad Chamber of Commerce announced the holding of a dialogue symposium with a number of wholesalers under the slogan (unjust decisions, a confined merchant and a hungry people).

According to a statement by the Chamber of Commerce, the symposium was held to reduce the rise in the prices of foodstuffs, commodities, consumer goods, medicines and building materials, which witnessed a remarkable rise after the world entered into the course of the war between Russia and Ukraine, and to discuss the recommendations that were submitted to the Iraqi government, which in turn agreed in its entirety, which was rejected by the Ministry of Commerce. Agriculture for those decisions issued by the Ministerial Council, which caused prices to rise dramatically, which harmed the national economy and trade exchange, which was completely disrupted, and its negatives were clearly reflected in the work of commercial companies and wholesalers.” LINK

Low Oil Prices In World Markets

Economie| 10:16 - 25/03/2022Follow-up - Mawazine News:Oil prices fell on Friday, with supply concerns receding in light of the continued division of European Union countries over imposing an oil embargo on Russia, while the United States and its allies are considering releasing more oil from storage to calm markets.

Brent crude futures fell 46 cents, or 0.4%, to $118.57 a barrel by 0529 GMT, after falling 2.1% in the previous session.

US West Texas Intermediate crude futures fell 47 cents, or 0.4%, to $111.87 a barrel, after losing 2.3% in the previous session.

Both contracts are heading to achieve their first weekly increase in three weeks, as “Brent” is heading for a 10% jump, while “West Texas Intermediate” is heading for a 7% rise after greater fears of a supply crisis caused by the European Union’s thinking to boycott Russian oil. earlier in the week.

https://www.mawazin.net/Details.aspx?jimare=188315

With a difference of 250 dinars .. the exchange rates of the dollar in the local markets

Economie| 10:08 - 25/03/2022With a difference of 250 dinars .. the exchange rates of the dollar in the local markets price-dollar-today-iraq-friday-november-26-2021_

Baghdad - Mawazine NewsThe dollar exchange rates witnessed stability in the local markets.

Selling price: 147,250 dinars per $100purchase price: 147,000 dinars per $100

https://www.mawazin.net/Details.aspx?jimare=188314

Customs: 9 Trucks Carrying Illegal Materials Were Seized At The Customs Of The Northern Region

Economie| 11:32 - 25/03/2022Baghdad - Mawazine NewsThe General Authority of Customs announced, on Friday, the seizure of 9 trucks carrying illegal materials at the customs of the northern region.

In a statement received by Mawazine News, the authority's media said, "The Department of Investigation and Combating Smuggling in the Northern Region Customs Directorate seized 9 trucks loaded with (electricity wires, electrical transformer parts and medical gauze) in violation of import terms and controls."

The statement indicated, "All violations are referred to the competent authorities to take all necessary legal measures against violators." Ended 29/N33https://www.mawazin.net/Details.aspx?jimare=188323

In Basra, A Government "Trick" Could Lead To A Loss Of 300 Billion Iraqi Dinars

Shafaq News/ A member of the Poultry Fields Representative in Basra Governorate, in the far south of Iraq, warned today, Wednesday, that the owners of poultry fields in the governorate will lose hundreds of billions of dinars due to the decisions of the Ministry of Agriculture.

A representative of the representative, Saleh Al-Sharifi, told Shafaq News Agency, "There are about 70 poultry fields in Basra," noting that "the price of one field ranges between 3 to 4 billion Iraqi dinars, as it operates according to international standards."

He pointed out that "the owners of these fields face the threat of closure due to the decisions of the Ministry of Agriculture, and one of the influential traders in the country."

Al-Sharifi considered, "The owners of poultry fields fell into the deception of the Ministry of Agriculture, as they reached the stage of self-sufficiency during the last period, and began to approach the countries for the purpose of exporting the surplus of production, but the neighboring countries of Iraq refused to receive the Iraqi product, as they preferred to support the local product with them, while The Ministry of Agriculture met us to lift the restriction on the imported product and not to take a similar decision to those countries to support our local product, which led to great losses.”

Al-Sharifi continued, "One of the other reasons why we are experiencing a great loss and fear of closing our fields is the rise in the price of feed from 300 dollars per ton to 800 dollars at once, due to the Russian-Ukrainian war and the monopoly of one trader in Iraq for this feed supplied to the country, which is a big mistake. The government committed it because it had no competitor."

He added, "The owners of poultry fields will not remain silent about their rights, but will reach the highest levels in the state for the purpose of exposing the corrupt manipulators of the nation's power," noting that "this deception may lead to the loss of the owners of these fields to about 300 billion Iraqi dinars."LINK