Tuesday, 12 August 2014

Dhi Qar Calls For The Launch of The Petro-Dollar Exchange Money

Called Dhi Qar province to launch money exchange petro dollars and set up their own account and not be subject to the authentication mechanism on the state budget to address the effects of delayed approval of Parliament for the federal budget for the current year after eight months of it until now.

She added, maintaining that the money, unfortunately, remain trapped in the banks do not act to preserve only after the ratification of the current year budget, which did not recognize yet.

He pointed out that the process of connecting to launch funds petro dollars to ratify the budget prevented the disposal of the province with money allocated to them under the conditions of what is the greatest need to be where the money as a result of the delay in approving the budget.

In another matter the province decided to sue companies lagging in the implementation of the ministerial projects, as pointed to the reluctance of companies that cause delays in the provision of services.


Friday, 8 August 2014

Central Edition Poses For a Class of Ten Thousand Dinars Bearing Liberation Monument

Baghdad-Iraq-Presse August 8 / August: Iraqi Central Bank announced about the launching of its new from the Iraqi currency category ten thousand dinars, indicating that it will carry the image of Liberation Monument and the signing of the Governor of the Bank and the Agency Abdul Basit Turki.

The governor of the Iraqi Central Bank and the Agency Abdul-Basit Turki said that "the most prominent changes incurred by the new category of paper ten thousand dinars are the factors of safety against forgery and damage," noting that "the new edition will include changing the image of the Arab world, al-Hasan ibn al-Haytham and replaced in the Liberation Monument in central Baghdad".

"The new edition contains what is known as a transparent window printing technique currencies ultra-precision, and that this edition will carry my signature."

Turki said that "the Iraqi Central Bank stresses that the revelation of this banknote to markets does not mean never pull the paper currently in circulation from the market, but will remain vice editions Mtdaolten and naturally".


Wednesday, 6 August 2014

Economists: The State's Reliance on Oil Imports (Cripple Its Economy)

He stressed Economists on the necessity of activating the decisions collects money owed to the citizens and not to rely on imports of oil sales as the basis for the country's economy to the magnitude of the economic risks in the near term, while confirming the parliamentary Economic Committee that the weakness in the collection of funds government revenue falls to the Ministries of Finance and Planning, which cause by making unilateral budget.

A member of the Parliamentary Commission of Economy Aziz Mayahi "The government revenue and private provision of public service to the citizens decreased dramatically after the change that took place in 2003 due to the cancellation of the government a lot of tax laws.

He added Mayahi "that returns control of the sale of oil over most of the Iraqi economy led to ignore the Internal Revenue Service for the ministries and public bodies and lack of contribution to the federal budget, but to remember the proportions I said it.

He explained that the interference in the laws of the collection of taxes and dues governmental and non-application of the existing ones according to the spammers correct items and instructions from the window to make some compromise on their rights institutions imposed on Moatn.


Tuesday, 5 August 2014

Iraq Exported Oil in July to Eight Billion Dollars

Announced that the Iraqi Oil Ministry announced yesterday that the country's exports of crude oil rose in the (July) to 2.442 million barrels per day in an average of 2.423 million barrels per day in the previous month.

And issued a statement which drew that shipments from the northern Kirkuk oil fields are still parked. The total selling price of Iraqi crude to $ 102.8 per barrel and revenues of $ 7.8 billion in July. Iraq exports most of its oil from the ports of the south.

Furthermore, Turkish officials said that Iraq's Kurdistan oil pumping through a pipeline to the Turkish port of Ceyhan resumed yesterday at a rate of 75 thousand barrels per day after a stopover late last month due to full storage tanks. They pointed out that the sixth tanker carrying 260 thousand barrels of Kurdish oil left the port of Ceyhan after the completion of the download.

In the markets, the combination settled «Brent» near $ 105 a barrel, as it overshadowed fears of a global glut in the supply of concern about the violence raging in the Middle East and North Africa. And paid an oversupply in the markets of West Africa, Europe and America «Brent» to decline 3.3 percent despite the political and security tensions in Iraq, Libya and Ukraine that can disrupt crude production in the future.

Crude rose «Brent» 16 cents to $ 105 a barrel, after falling $ 1.18 on Friday to 104.84 dollars, its lowest settlement price since the second of April. U.S. crude rose 20 cents to 98.08 dollars after they ended the week at its lowest settlement since February 6 (February).


Monday, 4 August 2014

Liberals: Merge Almoisntin Fiscal Contrary to The Financial Administration Act And Confusing Economic Reality

BAGHDAD - Iraq Press - August 3 / August: Liberal bloc stressed that "the integration of The Budgets of 2014 and 2015 in one package contrary to the Financial Administration Act and the Public Debt No. 95 of 2004 as amended and confusing  to the economic reality in the country.

The Member of Parliament for the Liberal bloc, Magda al-Tamimi   said that "among the definitions section (2) of the Financial Administration Act and the Public Debt No. 95 of 2004 amended there is a clause stating that the budget allocation is the legal authority granted to the government to spend public money during the fiscal year for the purposes of specific.

She drew Tamimi said that "among the definitions in the law that the budget program of financial speculation based on annual income and expenses and in-kind transfers and attributes of the Government.

She added that "the text within Chapter IV of the Act in general provisions confirms approving the budget year financial and takes effect during the year that passed her assignments," pointing out that "we conclude that it is not permissible to integrate Moisntin by law and must be approved by each one of them separately.


Tuesday, 22 July 2014

Enhance The Value of The Local Currency Transactions

Treasures Media - Follow-up: Said financial expert Ali Fukaiki importance of adopting measures trade in local currencies across the border for its role in facilitating the smooth flow of traffic of goods and goods across international countries that adopt this process.

He added that cross-border trade in local currencies in vogue among the countries of the world, pointing to the importance of activating the measures adopted in the present time in the trade of the country during the current situation you need to supply the domestic market of goods cover the growing domestic demand.

He pointed to the presence of several international agreements to be adopted commercially in the world like her and what was approved by the agreement between the governments of Turkey and Iran from trade in local currency for the two countries, as well as between Malaysia and its neighbors using local.

He said in China rely many foreign projects, particularly the Japanese use the Chinese currency, the local of the (yuan) and a way to settle the payment obligations urgent and those adjustments less susceptible to the vagaries of the process in foreign currency exchange rates and to avoid the margins of the difference required by the conversion process through the dollar.

The Fukaiki has between in an earlier statement that what happened to trade actively across the border in (spend Klar) and (Haj Omran) in the Kurdish north and is happening now in the Mehran and Shalamcheh south vivid example of this trade, which resulted in the accumulation of reserves, cash Iraqi significantly with the bankers and traders Iranians, Syrians and Turks and others promoted the acceptance of these Iraqi dinar confidence in him over the past five years, which did not happen to him such confidence before that over the past half a century earlier.