Oil Ministry announced exported Friday, more shipments of both types of liquefied and condensed gas.
Ministry spokesman Assem Jihad told Reuters, “Iraq exported a shipment 24 thousand cubic feet of gas condensate, the fourth since March and the other in size 1600 tons of liquefied petroleum gas from the port of Umm Qasr in Basra province.”
Iraq OPEC member exported first shipments of LPG this month as part of government efforts to boost crude exports, which make up most of the country’s revenues in light of falling world oil prices, revenue strategy.
Basra gas company associated with oil from southern Iraq natural gas fields treated to be used primarily in the operation of power plants and for cooking local market.
The Iraqi Foreign Ministry report that 31 donor countries for Iraq donated $2.1 billion to support the stabilization and reconstruction in the liberated areas.
The spokesman for the ministry Ahmed Gamal said in a statement / KD / received a copy of it: The advocates of the Conference of donor countries for Iraq within the international coalition against terrorism, which was held yesterday in coordination with Iraq, the United States, Canada and Japan, has been granted Iraq $2.1 billion to support the stabilization and reconstruction in the liberated areas.
He noted that 40 countries participated in the conference, but 31 of them have donated $2.1 billion.
He noted that most of the money will help efforts to shelter the displaced and support the stability and reconstruction in the areas liberated from the control of the organization Daash.
Iraq Aviation Academy on Thursday, has signed an agreement with the International Air Transport Association providing for the academic adoption of specialized institutes for holding training courses related sector of air transport various aviation fields of industry, noting that participants courses will receive a credit from a recognized union certificates of all global airlines.
The director general of the agency and the head of training for the Academy Riaz Rauf in a statement received Alsumaria News, a copy of which, “The Academy has signed an agreement with the International Air Transport Association (IATA) provides academic adoption of specialized institutes to hold training courses related sector of air transport various aviation fields of industry, including help students and professionals from Iraq to enhance competitiveness and professional abilities and in accordance with the standards and principles adopted by the IATA.”
Gracious about “pleased with the decision the International Air Transport Association delegated to carry out tasks specialized in the air transport sector training, which supports the Academy’s efforts to strengthen its role in the field of specialized training in the manufacture of aviation,” asserting pride in the “human potential qualified in the academy, which is an educational center distinct in the region given the talent capable of transmitting information and expertise enjoyed by the entities and persons wishing by building them both at the country level.”
He congratulated Rauf, academic management, “this great achievement which reflects the International Federation of the confidence of sophisticated potential Technical Academy, the capabilities of trainers to provide training curriculum adopted by the Union for all international airlines,” and expressed his appreciation “to the keenness of the IATA to support all academic ways and means to strengthen its position in the field of specialized training in various different disciplines of aviation.”
He continued that “trained specialists from the Academy will, in accordance with the Convention on training in approved courses (IATA) in various fields of aviation such as work and ground operations of the airport and access to the air transport world and customer services for airlines, safety, etc., so participants get certified from the Association (IATA) and recognized by all international airlines and others working in this sector.”
Oil Ministry announced on Saturday July 2, 2016, the export of the first shipment of liquified gas through the port of Umm Qasr in southern Iraq.
Undersecretary for gas industry Hamid Younis, in a statement received by all of Iraq [where] a copy of it, during a ceremony held on this occasion that the exported quantity of 2000 tons, which in turn represents the first step towards making the best investment of the associated gas for oil operations and the gate to go to markets global by exporting surplus quantities for the need for Iraq, describing the move achievement historical economic and oil and event especially as it comes under the security and economic challenges facing our country in general and the oil sector in particular.”
he added that “the ministry attaches great importance to the gas sector, which has seen over the last period great development and an increase in liquid gas production and access to self – sufficiency, where daily production rate of 5,000 tons per day, as well as exporting several shipments of condensate within the petrochemical industries as well as the growing dry gas production and cover a good percentage of the needs of power plants throughout the Iraq, he said . “this came thanks to the strategic plans for gas investment and increase production of it.”
Director General of the Basra gas Company, Simon Diamond, said that “the Basra gas Company is proud today to this event which was the result of the efforts of workers in this company that has been working for three years to invest three oil fields in Basra province, the company is working hard to implement plans aimed at achieving a gradual increase in production rates.”
The ministry spokesman, Assem Jihad, according to the statement that Iraq is a promising country in the production and the gas industry and possesses enormous wealth and a large gas reserves associated petroleum operations, which accounts for 70 percent of national production while constitute free gas 30 percent.
Jihad said that “the ministry is working on map producer and exporter of gas in the region and the world through the optimal investment to this wealth, noting that the ministry has succeeded during the period past convert a good percentage of the burned energy into useful energy supply the energy today and cement factories and other plants, and that Iraq is seeking additional financial revenues, along with accruing from the export of crude oil revenues.”
According to a statement of the bank, it “will declare gold bullion and coins prices every Monday of each week and through the website of the bank selling on Tuesday, only according to list prices on the basis of [ the price of gold in market the previous day – Monday – $15 plus the fixed costs the other corps and insurance.
The Central Bank of Iraq announced that since September 2015, offering different weights alloys of gold for sale to the citizens “to support financial liquidity” because of the financial crisis in Iraq.
For more than five years, the Central Bank of Iraq has planned to remove three zeroes from the banknotes and add Kurdish text. To date the efforts to redenominate the dinar have failed to come to fruition, but as this note demonstrates, the addition of Kurdish text is underway, with the language first appearing on the 50,000-dinar note (B356) introduced on 11 November 2015.
Mohammed Saleh economic advisor to Prime Minister Haider al – Abadi, said on Tuesday that the International Monetary Fund has transferred the first installment in the amount of $634 million to the Iraqi state out of 5 billion and 300 million US dollars loan.
Saleh said in a statement that the current year will witness the handing Iraq in three installments of the loan what he believes the arrival of about two billion dollars to the treasury of the Iraqi state, adding that the attempted payments comes after the Executive Board of the International Monetary Fund endorsement of the agreement with Iraq in the seventh of July.
Saleh added that the launch of this loan will open the door for an agreement with the international financial institutions that deal with the IMF as a protector and guarantor of private enterprise and that Iraq has won the trust fund after the guarantees provided by the latter to re – loan amount.
The Finance Minister Hoshyar Zebari announced, on 19 May 2016, to reach an agreement with the World Bank Fund for a loan worth $5.4 billion, and the loan will allow securing additional financial assistance to reach about $15 billion over the next three years.
Parliament’s finance committee confirmed, that the issuance of banknote by the Central Bank of Iraq, which included the marsh sites and relics does not require new legislation.
A member of the committee MP Ahmed Sarhan told / KD / that “the Central Bank Law gave permission to issuing new editions, where the central bank when it issued the 50,000 dinars edition did not consult any party.”
He added that “the central bank’s intention to issue banknotes which include the marshes and relics sites after protection those areas within the World Heritage does not require new legislation in parliament,” adding it was “a nice idea to the marshes and archaeological areas to keep in mind when included in the cash editions.”
The United Nations Educational, Scientific and Cultural Organization (UNESCO) voted on the inclusion of the Iraqi marshlands and archaeological sites in the World Heritage.
The central bank had announced its intention to issue banknotes bearing archaeological sites and marshes logo after included.
Repeated calls by some observers to call for the lifting of the dinar exchange rate against foreign currencies, to the extent that some of those claims by making the value of the dinar equivalent to one dollar on the grounds that the caloric value of the current criticism is not consistent with the cash reserve ratios, that the reserves which currently stands at rates around $54 billion with nearly 80 tons of gold should be reflected in the local currency value against foreign currencies, which in turn will contribute to the national currency trading in foreign markets!!, with cut and the relevant authorities to silence does not comment on those claims whenever repeated, as if rise above squabbles with such rumors and allegations, leaving the media for such, known by raising the fallacies over the years after the change, to promote such claims which are usually drowned out by the general public, as easy exits for the crisis the country’s economy, as soon It has been circulating on social networking sites on the grounds that the central bank had announced since years for the project to delete the zeros!!
Ignoring the main objective of the project to delete the zeros which aims to restore the money supply structure in line with the market data movement and the country’s need to invest in unstable security conditions reflect negatively on the cash handling operations during transactions especially with regard to large sums in buying, selling and trading currency between banks and other institutions operations, so that some social networking pages that calls itself the economic nomenclature, allowed itself to frequently publish such narratives, intentionally or unintentionally, the same that were promoted to project «dollarization» wages more heavily exposed exchange rate fluctuations in price due to the political and economic variables local and international levels.
The silence on what is called the propaganda bubbles may be feasible in some cases, as it was soon collide with reality and disappear, but it may be impossible to double the media point if shred hiring vanities, intentionality and marketing body subject touches the interests of the people, as soon it takes promotional space on social networking, which requires a serious follow – up media from the relevant authorities to what is said and published, addressing the media, especially since the surge in these days takes rising to undermine all that is beneficial to the country and the people.
In addition to talking about the subject, such as the position of the cash reserve is in fact a modern potentially more fallacies by what surrounds from a misunderstanding of monetary policy, To say that the cash reserve ratio should be reflected on the local currency’s value against foreign currencies seems to be true at first glance with it is a modern late frequently for damage to this reserve on the impact of the continuing work of the Central Bank daily auction to finance foreign trade in conjunction with the decline in the proportion of foreign currency revenues due to lower oil prices, since this reserve juxtaposition of about $80 billion before the oil collapse was not in the day the central database the lifting of the dinar exchange rate against the dollar to considerations relating to the price values of criticism about the economic reality, where the real sectors suffer from almost complete paralysis and market movement on the outer import and activates the parallel market as a result of lack of legal procedural system to the economy of a real market is complete, how can central bank submit the amendment to the value of the dinar equivalent to one dollar in these days? Are there there is no doubt this invitation?
On the other hand, the national currency trading outside the country would have a positive impact to buy more goods and services for the benefit of the country, but this will reflect negatively on the national economy unless there have the largest share in the gross domestic product, real sectors, as well as to raise the exchange rate would have a serious impact on both the consumer, the wages of labor and raw materials in the local market prices, which means the high cost of generating unit over imported counterparts, therefore damage the local product and disable it at a time when the government is seeking to activate all sectors in order to diversify revenue, therefore, our national currency will be a commodity in the speculative financial market as a haven winner no more at this stage or that, this would damage the monetary bloc, amounting to 40 trillion dinars only .. the national currency trading rates outside the country regarding the class basis in a solid economy (diversified economy revenue of rising contribution of all sectors, particularly the real sector in the gross domestic product, along with the importance of higher cash income rates in the external balance and stability of payments in the monetary system as well as financial openness, which contribute significantly to the circulation rates, which requires the presence of a healthy banking system simulates the existing developments in the global banking industry, not necessarily the high value of the currency, our guide the Japanese yen, because of Japan’s cash reserve 1.265 trillion as of the yen around 94 yen to the dollar as the Japanese government is trying with all its capabilities should not make yen rises against the dollar because every cent rise in which the yen is causing big losses for the Japanese economy, meaning that the reserve does not necessarily mean that is reflected in the rise in the exchange rate of the local currency, as this would be determined by economic data.