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Samson: Oil prices are closing higher supported by strong US economic data
6th April, 2019
Spot prices on Saturday, boosted by strong job data in the United States, dampened concerns about weak global demand for crude and expectations that an escalation of the conflict in Libya could cut oil supplies.
Brent crude ended the session high with $ 1.01, or 1.46 percent, to settle at $ 70.41 a barrel.
The US also rose Brent crude contracts for West Texas Intermediate 1.17, or 1.88 percent, to record at the settlement of $ 63.27 a barrel.
Brent hit a second consecutive week of gains, while US crude was the fifth consecutive weekly gain.
Prices were also supported by growing optimism that Washington and Beijing are close to a trade deal. LINK
Don961: Baghdad becomes a global trade and investment kiss
Friday, 05 April 2019
Baghdad / Farah Al-Khafaf
The 16th Trade Fair of the OIC Member States will be held on the grounds of the Baghdad International Fair on Sunday, with the participation of a large number of companies working in the sectors of construction, construction, infrastructure, energy, mineral wealth and other sectors.
This comes at a time when an economist stressed the importance of such exhibitions and forums to attract capital and foreign companies to invest in Iraq.
"The exhibition is an important economic forum, with a large number of companies working in construction sectors," said Hashim al-Sudani, Director General of Iraqi Trade and Trade Services.
"This exhibition reflects the interest of the government and the private sector in this great event and reflects the policies adopted by the state to establish strong trade and investment relations with Islamic countries on the basis of mutual benefit, mutual cooperation and achieving comprehensive renaissance in various fields," he said in a statement.
"The exhibition is a new beginning for harmonious and harmonious work in a clear and sound commercial manner and a scientific and rigorous approach, and thus we will be compatible in all works in a good and useful march," Al Sudani said.
He also stressed "the importance of the hoped-for role of the exhibition in the level of trade exchange, enhancing the opportunities of intra-OIC investments and introducing investment, trade and economic opportunities in the countries organizing the exhibition with member countries, businessmen and investors and opening up new markets for the products and industries of participating countries."
"The active participation in the exhibition allows us to meet with the largest gathering of decision-makers, businessmen, trade development organizations and professional associations in the Islamic world. This event is a platform for economic actors in member countries and an important economic pillar in expanding the network of trade relations, Marketing plans ".
He pointed out that "this comes through accelerating the pace towards activating the role of Islamic finance institutions, joint business councils, supporting and encouraging business men and women, executive institutions of the business sector in Islamic countries, and developing practical mechanisms to implement and follow up the outcomes of conferences, forums and meetings of men and women entrepreneurs,
To develop information exchange, review regulations and agreements that regulate trade relations between Islamic countries, discuss investment opportunities in various fields, discuss obstacles and mechanisms that address ways to facilitate them, and encourage the establishment of more exhibitions to raise awareness In the export potential of each country, and benefit from the meetings provided by these exhibitions in the holding of trade and investment deals that give a strong impetus to move forward towards the development and strengthening of economic partnerships between Islamic countries.
"The establishment of conferences and exhibitions in Baghdad underscores the importance of Iraq and its role in the region, and contributes to attracting capital and companies to invest in Iraq," said Saad al-Muhammadawi, an economist.
He added that "several factors contributed to changing the false image that was taken from Iraq, most notably the victory over terrorist gangs and the maintenance of the national economy, as well as the wise policy adopted by the State in all its joints based on moving away from policy axes."
"These factors or steps have resulted in a race between countries and Arab and regional companies and even global to increase trade exchange with Iraq, in addition to seeking to implement investment projects."
He explained that "these exhibitions and conferences help to bring together the destinations and the holding of bilateral meetings and the signing of memorandums of understanding, in addition to the strengthening of work between businessmen and the revitalization of the private sector."
In the meantime, the Ministry of Commerce, sponsored by the Conference of Construction, Construction and Investment with the participation of 54 Egyptian companies on Sunday also.
"The conference will be held at the Palestine Hotel in Baghdad and will continue for two days to introduce investment opportunities and contribute to the reconstruction of Iraq," Trade Minister Mohammad Hashim al-Ani said, adding that "the largest Egyptian companies representing the public and private sectors will participate."
He added that "the most prominent companies participating in the conference are Arab Contractors, Red Kone Company, Arab Consultants University, Expert House Group, Swedish Construction Company of Electricity, Suez Steel and Steel Company, Kelopatra, Al-Ashri Steel Company, Saibi Paints and Ala Steel Company. Egyptian Conferences will bear all costs of the financial conference. "
Al-Ani pointed out that "this conference is an important step in the participation of Egyptian companies in the campaign to rebuild Iraqi cities and rehabilitation of infrastructure, because these companies have a long history in the field of construction and investment," adding that "the establishment of these meetings in Baghdad, Arab and international companies to invest in Iraq after the elimination of terrorism and the return of Iraq as an important economic player in
"The ministry's efforts through these conferences to attract Arab and international companies to invest and benefit from the investment opportunities provided by the Iraqi environment in light of the government's desire to open the door for large investments, as well as giving the Iraqi private sector a greater role in the construction and reconstruction of cities, The foreign private sector should be a partner in them Projects ". link
Don961: Trillion dollars will be collected by the governments of the world by eliminating corruption
Friday, 05 April 2019
Capitals / agencies
The International Monetary Fund (IMF) has confirmed that governments in the world can raise an additional $ 1 trillion in taxes by eliminating corruption.
The IMF's financial monitoring report found that reducing corruption in all countries would increase total tax revenue by $ 1 trillion, or about 1.25 percent of global gross domestic product.
The International Monetary Fund found that developed countries with lower levels of corruption combined average tax revenues by about 4.5 percent of GDP more than those with the same economic development with higher levels of corruption.
The study said that by analyzing more than 180 countries, it became clear that the most corrupt countries receive lower taxes, where people pay bribes to avoid them, including through designed tax loopholes, and that taxpayers believe their governments are corrupt. Pay it.
The gains that governments will take if they curb corruption will be greater if one considers that a decline in corruption would increase economic growth and increase revenue, the report said.
In its report, the IMF found that corruption has implications for the public finances of countries outside of tax revenues, pointing out that the most corrupt governments spend less on education and health care, especially in low-income and emerging market economies.
He stressed that in order to confront corruption, governments must take a comprehensive approach to address it through key steps such as clear laws on tax collection, independent monitoring and auditing, and strict penalties for actions
On the other hand, the IMF pointed out that a significant decline in house prices could negatively affect the performance of macroeconomic and financial stability as occurred in the global financial crisis.
The global stability report released by the IMF said that house prices around the world are likely to fall over the next three years.
The IMF attributed its assessment to low house prices, overvalued prices, excessive credit growth and tightening financial conditions.
In its assessment, the IMF relies on the study and measurement of the price of homes at risk in the future through a study of 32 economies in developed and emerging countries and major cities in those countries.
The report pointed out that monitoring house prices at risk helps predict the risks to GDP growth.
Housing prices should not be regarded as a direct target of monetary policies or capital flow management measures.
The relationship between policy measures and downside risks to house prices could shed light on the extent to which these measures reflected weaknesses in the housing sector and the state of stability Financial institutions. The results suggest that the unexpected easing of the interest rate set by monetary policy is associated with reduced risk of falling home prices, but this correlation is limited in the short term to advanced economies Only. link
Don961: Friday, 05 April 2019 11:51 p
A former parliamentarian reveals the restoration of 30 billion dinars deviated from the budget of Mosul
The former deputy of the province of Nineveh, Mohammad Nuri al-Abdrabh, on Friday to restore 30 billion dinars deviated from the budget of Mosul, was dedicated to the construction and reconstruction.
"The amount of 30 billion Iraqi dinars that were embezzled from the budget of the province was earmarked for construction and reconstruction, but it was illegally exported to the pockets of corrupt people," al-Abderbah said in a press statement.
He added that "following the arrest of a number of engineers working in the Office of the province and contractors cooperating with them on charges of embezzlement while currently being investigated."
He pointed out that "the detection of corrupt and corruption is still ongoing and will be revealed other funds have been embezzled and there are personalities will be arrested and investigated with issues related to waste of public funds and embezzlement," asserting that "These funds were earmarked for the reconstruction and construction of the city destroyed by the war, but they went illegally and left the province to their pockets," he said. "There are serious confessions in large numbers and names by detainees in integrity."
He added that "the role of the crisis cell today was ordered by Prime Minister Adel Abdul-Mahdi after the dismissal of Governor Nofal Hammadi Sultan Al-Aakoub to rid the province of a problem solved by the cell will conduct the work of the province until the election of a governor of the city and there is a package of reforms will be carried out by the cell in all state institutions."
"All four positions in the province will be subject to political consensus between the parties and the political blocs, so it will be difficult to choose a personality that everyone agrees upon," he said. There are no prior agreements and agreements between the parties and blocs that have the political decision. "
He said that "the solution of the provincial council is a secretariat in the necks of the members of the Iraqi Council of Representatives and we do not want any conflicts on positions in the province, whether the conflict from within Nineveh or from outside, and we reject any existence of the leadership that Intends to get the position through illegal transactions, he said. link
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