Day: August 12, 2024

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A Source: 65 Sunni MPs agree to nominate MP Ziad al-Janabi for Speaker of the House of Representatives by an absolute majority

A parliamentary source announced that 65 Sunni MPs agreed to nominate MP Ziad al-Janabi for Speaker of the House of Representatives by an absolute majority.

He told the National Iraqi News Agency/NINA/ that a meeting was held at the home of an important Sunni leader and in arrangement with the Coordination Framework.

He added that the Coordination Framework will hold a meeting at a later time to support the Sunni majority’s option to pass the parliament’s candidate.

Source: National Iraqi News Agency

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The Ministerial Council for the Economy discusses the government’s monetary, financial and economic policy


The Ministerial Council for the Economy discussed, today, Monday, the government’s monetary, financial and economic policy.

The media office of the Council stated in a statement that “Deputy Prime Minister, Minister of Foreign Affairs, Chairman of the Ministerial Council for the Economy, Fouad Hussein, chaired the twenty-fourth session of the Ministerial Council for the Economy, which was held at the headquarters of the Ministry of Industry in Baghdad, in the presence of the Deputy Prime Minister, Minister of Planning, and the Ministers of Finance, Agriculture, Trade, Labor, Social Affairs and Industry, the Governor of the Central Bank, the Chairman of the National Investment Commission, the Undersecretary of the Ministry of Oil, and the Prime Minister’s Advisor for Economic Affairs.”

The statement added that “the council hosted the Deputy Prime Minister for Energy Affairs, the Minister of Oil, the Minister of Electricity, the Director General of the Oil Marketing Company (SOMO), and the Chairman of the Gen
eral Authority of Customs; to discuss the government’s monetary, financial and economic policy.”

He continued, “The Council Chairman began the session by opening the discussion to the ministers and members of the Council; to review their vision on the economic policy and the financial and monetary reality of Iraq, in addition to discussing the best ways to achieve financial stability, enhance economic growth, and confront the economic challenges that the region may witness due to economic and security tensions.”

The statement indicated that “the Council listened to a presentation by the Minister of Finance on oil and non-oil revenues, as well as the law and instructions for sound financial management and the regulatory and administrative procedures carried out by the Ministry to distribute these revenues to the operational and investment expenses of ministries and agencies.”

The Deputy Prime Minister and Minister of Oil presented a reading on the oil market, noting that “the reports of the relevant agencie
s indicate an increase in demand due to the increase in economic growth,” expecting “the stability of oil prices for the coming months with a noticeable increase,” noting at the same time that “oil prices are affected by the political and security factor in the region.”

The statement explained that “the ministers reviewed their economic vision,” and the council discussed “ways to maximize revenues in order to support the state’s general budget, while rationalizing unnecessary expenditures for ministries, agencies, and self-financing departments.”

Source: National Iraqi News Agency

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Iraq and Egypt sign a cooperation protocol to enhance joint work in the financial field


The Chairman of the Board of Governors of the Iraq Stock Exchange, Adnan Hashem, signed today, Monday, with the Chairman of the Board of Directors of the Egyptian Stock Exchange, Ahmed Al-Sheikh, a cooperation protocol to enhance joint work between the two countries.

A statement said that “the Chairman of the Board of Governors of the Iraq Stock Exchange, Adnan Hashem, and the Chairman of the Board of Directors of the Egyptian Stock Exchange, Ahmed Al-Sheikh, signed a cooperation protocol between the stock exchanges of the two countries to enhance joint work, in the presence of the Chairman of the Iraqi Securities Commission, Faisal Al-Haims, and the Vice Chairman of the Egyptian Stock Exchange, Hiba Al-Sayrafi.”

The statement added that “the aim of this step is to strengthen the bonds of cooperation and raise the level of coordination between the two parties, increase the prospects for joint work and exchange experiences and information in all aspects of investment and develop existing legislative procedur
es for both, in addition to working to increase investment awareness and attract mutual investments between the two countries and direct savings towards investment in securities, as well as support the transition to the digital economy to increase the competitive capabilities of both stock exchanges.”

Source: National Iraqi News Agency

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The Patriotic Union: Our policy in Kirkuk is an extension of Talabani’s policy


The Political Bureau of the Patriotic Union of Kurdistan confirmed that the party’s policy in Kirkuk is an extension of the policy of the late Iraqi President Jalal Talabani, reassuring the Turkmen that they will provide positions worthy of the component in the administration of the new governorate.

He said in a statement that “the Political Bureau of the Patriotic Union of Kurdistan held a meeting in Sulaymaniyah headed by the party’s president, Pavel Jalal Talabani,” indicating that “the meeting was held on the occasion of choosing a Kurdish governor for Kirkuk according to the electoral entitlement,” stressing “commitment to the policy and approach of President Jalal Talabani for peaceful coexistence among all the indigenous components in that city.”

The Political Bureau of the Patriotic Union of Kurdistan met this afternoon under the supervision of the President of the Patriotic Union, Pavel Jalal Talabani, in Dabashan, stressing “commitment to the policy and approach of President Jalal Talabani to achi
eve peaceful coexistence among all the indigenous components of the city.” President Pavel Jalal Talabani stressed during the meeting “that this success is not only a success for the Patriotic Union, but rather an achievement for the people of Kirkuk with all its components, as the policy of the Patriotic Union of Kurdistan is to continue the policy of President Mam Jalal, who was always keen on the rights of all the indigenous components of Kirkuk, including Kurds, Arabs, Turkmen and Christians.”

Source: National Iraqi News Agency

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Turkey’s ruling Justice and Development Party calls for suing Netanyahu’s government


Spokesman for the ruling Justice and Development Party (AKP) Omer Celik called for suing the government of Israeli Prime Minister Benjamin Netanyahu “as the government that has committed the most genocidal acts in human history.”

Celik said, during a press conference held after the meeting of the AKP Central Executive Council headed by President Recep Tayyip Erdogan, today, Monday, that the large waves of displacement in the Gaza Strip fleeing death show the extent of deprivation and poverty there.

He added: France, Germany and Britain have called for full humanitarian aid to reach Gaza, explaining that “these calls do not come from the Islamic world only, but from all countries that enjoy democracy, but Israel does not comply with any of these calls.”

Celik pointed out that “the more the international community wants to achieve a ceasefire, Israel carries out an assassination or a major attack.”

Since October 7, Israel has been waging a devastating war on Gaza with unconditional American support, leaving
more than 132,000 Palestinian martyrs and wounded, most of them children and women, and more than 10,000 missing, amid massive destruction and deadly famine.

In disregard of the international community, Tel Aviv continues the war, ignoring the UN Security Council resolution to stop it immediately, and the orders of the International Court of Justice to take measures to prevent acts of genocide and improve the catastrophic humanitarian situation in Gaza.

Source: National Iraqi News Agency

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Fidan to Blinken: Israel must be pressured to achieve a permanent ceasefire in Gaza


Turkish Foreign Minister Hakan Fidan received a phone call from his American counterpart Anthony Blinken today, Monday, during which they discussed the negotiations process for a ceasefire in the Gaza Strip.

Fidan called on the United States to pressure Israel to achieve a permanent ceasefire in the Gaza Strip, and to abandon “provocative steps” that would expand the scope of the conflict in the region.

The Turkish Foreign Minister stressed that the martyrdom of the head of the Hamas political bureau Ismail Haniyeh and the ongoing massacre against the Palestinians show once again that Israel is not ready to make peace, noting that the Palestinian movement has previously shown a constructive position regarding the ceasefire.

Hamas had asked the truce mediators in the Gaza Strip yesterday, Sunday, to submit a plan to implement what they had offered to the movement and agreed to on July 2, based on the vision of US President Joe Biden and the Security Council resolution, and to oblige the occupation to do so,
instead of going to more rounds of negotiations or new proposals that provide cover for the occupation’s aggression and give it more time.

Biden had put forward the terms of a deal offered to him by Israel early last June “to stop the fighting and release all detainees, and Hamas accepted it at the time,” according to Hebrew media. However, Israeli Prime Minister Benjamin Netanyahu added new conditions that his government’s Defense Minister Yoav Galant and Mossad chief David Barnea considered would hinder reaching the deal.

Netanyahu later added other conditions, including deporting Palestinian prisoners with high sentences to other countries such as Qatar and Turkey.

Source: National Iraqi News Agency

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The Olympic Games /Paris 2024/ concluded


The 33rd edition of the Summer Olympic Games /Paris 2024/ concluded on Sunday evening with a parade held at the Stade de France stadium in the suburb of Saint-Denis.

The curtain fell on the /Paris 2024/ Olympics with celebrations that began in the Tuileries Garden, where the Olympic cauldron is located.

In turn, Thomas Bach, President of the International Olympic Committee, confirmed in a speech during the closing ceremony that the /Paris 2024/ Olympics were “amazing” and held in an unparalleled atmosphere, noting that all participants amazed the world with amazing Olympic Games from beginning to end.

The President of the International Olympic Committee handed over the Olympic flag to the Mayor of Los Angeles, Karen Bass, the host of the 2028 Summer Olympics.

For his part, Casey Wasserman, President of the Organizing Committee for the Los Angeles 2028 Olympics, said in his speech after receiving the Olympic flag, “This is the most important moment in the history of the Los Angeles Olympics, when Paris pas
sed the Olympic flag to Los Angeles, marking the organization of the 2028 Olympic Games.”

Source: National Iraqi News Agency

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ADNOC Gas announces record Q2 net income of $1.19 billion


Abu Dhabi, ADNOC Gas announced strong financial results for the second quarter (Q2) of 2024, posting an adjusted net income of $1,190 million, a 21% year-on-year (y-o-y) improvement exceeding market expectations.

Revenues for the Q2 period of $6,076 million are an increase of 13% y-o-y. Within the UAE, increased population and industrial growth have contributed to stronger sales for the domestic gas business.

ADNOC Gas fulfils more than 60% of the UAE’s gas demand and is fuelling the development of key industrial sectors, including the growth of petrochemicals.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) growth outpaced revenue improvement during the quarter, reaching $2,086 million, an 18% y-o-y increase.

The company’s EBITDA margin of 34% is underpinned by high sales demand and the benefits of its long-duration gas supply and purchase agreement and ADNOC Gas’ integral role in powering and enabling the UAE’s Industrial diversification and growth, the Emirates News Agency (WAM)
reported.

Dr. Ahmed Al Ebri, CEO of ADNOC Gas, said, “Our robust Q2 results clearly reflect our focus on growth, significantly strengthening revenues and profitability while continuing to maintain a healthy margin. The 21% improvement in Q2 net profit underlines our commitment to enhancing our performance, implementing efficiencies, and optimising costs.”

ADNOC Gas has announced an increase in its annual dividend per share by 5%, aligning with its dividend policy to distribute a total of $3,412 million for the full year (FY) 2024.

The Board of Directors has approved an interim dividend of $1,706 million, scheduled for distribution in September.

The approved interim dividend equals to a dividend per share of 8.164 fils. A planned final dividend also of $1,706 million will be distributed in April 2025, pending approval at the Annual General Meeting.

Source : Bahrain News Agency