Tuesday, September 24, 2024
The Ministry Of Oil Announces Achieving Self-Sufficiency In Gas Oil And Kerosene, 24 SEPT
The Ministry Of Oil Announces Achieving Self-Sufficiency In Gas Oil And Kerosene
Monday 23 September 2024 20:22 | Economic Number of readings: 188
Baghdad / NINA / The Ministry of Oil announced today, Monday, achieving self-sufficiency in gas oil and kerosene. The Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Younis, said in a statement:
"The ministry is keen to achieve self-sufficiency in petroleum products of all kinds in support of the national economy," stressing that "this comes in implementation of the decisions of the government program, and the directives of the Deputy Prime Minister for Energy Affairs and Minister of Oil."
He added, "The ministry has achieved self-sufficiency in the production of gas oil (kerosene) and kerosene, and stopped importing them.
The ministry was also able to reduce the quantities of imported gasoline to low levels, compared to the quantities that were being imported, and thus the amounts of money that were spent on import were reduced."
He explained that "the ministry is working to achieve self-sufficiency in gasoline production through the projects being implemented in the refining sector, which will be completed in the coming months."
He pointed out that "the achievements in the field of increasing production capacities in the refining and refining sector were achieved through the implementation of projects within a short period," noting that "the ministry is determined to increase the capacities of petroleum products to support and develop the economy." https://ninanews.com/Website/News/Details?key=1156864
RV UPDATE BY SANDY INGRAM, 24 SEPT
Sandy Ingram
This is concerning, why do Iranian backed militias keep targeting Israel? ...This information comes from 9 different sources...There are real missiles, this is is a real news story...
The Israeli Air Force successfully intercepted multiple aerial threats from Iraq. These included two cruise missiles...rockets...drones...Israel Defense Forces confirmed the interceptions with no targets breached Israeli airspace...The Islamic Resistance in Iraq tied to Iran claimed responsibility...
My concern is Israel will respond to Iraq in a harsh way. It does not matter who is launching the deadly missiles, the threat is coming out of Iraq.
DINAR REVALUATION REPORT : Al-Alak Signs Agreement with the International Finance Corporation on Banking Sustainability Roadmap IRAQ 2024, 24 SEPT
Al-Alak Signs Agreement with the International Finance Corporation on Banking Sustainability Roadmap IRAQ 2024
Overview
On September 23, 2024, a significant milestone was achieved in the Iraqi banking sector as Ali Al-Alak, the Governor of the Central Bank of Iraq (CBI), signed an agreement with the International Finance Corporation (IFC), a member of the World Bank Group [2]. This agreement aims to develop environmental and social risk management guidelines for the banking sector and launch a seven-year Sustainable Finance Roadmap [2]. The roadmap, covering the period from 2023 to 2029, is designed to enhance the performance of Iraqi banks in various areas, including environmental and social risk management, encourage the availability of sustainable banking products, and increase the competitiveness of the banking sector [2].
Objectives of the Agreement
The Sustainable Finance Roadmap and Environmental, Social, and Governance (ESG) Code, launched as part of this agreement, are crucial steps towards improving sustainable financing for the banking sector and strengthening Iraq's financial infrastructure [2]. The objectives include: Enhancing the performance of Iraqi banks in environmental and social risk management. Encouraging the availability of sustainable banking products. Increasing the competitiveness of the banking sector. Supporting financial stability. Reducing environmental and sustainable risks. Promoting social development [2].
Key Highlights
- ESG Code Development: The new ESG Code sets specific standards and practices that Iraqi banks can integrate into their business strategies and investment decisions, paving the way for greater mitigation of ESG risks across the banking sector [2].
- International Commitment: IFC's partnership with the CBI represents a significant milestone in Iraq's strategic approach towards sustainable finance, demonstrating IFC's commitment to strengthening the country's financial infrastructure and increasing the competitiveness of its banks [2].
Impact and Significance
The signing of this agreement and the launch of the Sustainable Finance Roadmap are significant for several reasons: Global Demand for Sustainable Finance: The global demand for sustainable financial products highlights the need for banks to consider ESG issues in their risk management framework to attract investments [2].Role of the Central Bank: As a Central Bank, the CBI plays a key role in sustaining the development, growth, and financial stability of Iraqi banks, ensuring their ESG performance matches international standards [2]. Sustainable Economic Pathways: The agreement is particularly important as Iraq faces challenges posed by climate change, requiring approximately $233 billion by 2040 to address the developmental gaps necessary for pursuing sustainable economic pathways [1].
Conclusion
The agreement between Al-Alak and the International Finance Corporation marks a pivotal moment for the Iraqi banking sector, setting a strategic course for sustainable finance and environmental, social, and governance standards. This collaboration not only aims to strengthen the banking sector's resilience and competitiveness but also supports Iraq's broader goals of financial stability and sustainable development in the face of environmental and social challenges.
New York.. Sudanese urges UNICEF to cooperate with the Iraqi private sector, 24 SEPT
Shafaq News / Iraqi Prime Minister Mohammed Shia Al-Sudani urged UNICEF to cooperate with the Iraqi private sector.
His media office said in a statement received by Shafak News Agency that the Sudanese received yesterday evening, Sunday (Baghdad time), the Executive Director of the United Nations Children’s Fund / UNICEF, Catherine Russell, on the sidelines of his participation in New York in the meetings of the United Nations General Assembly at its 79th session.
The meeting witnessed a discussion on childhood issues and rights and international laws related to them, and the progress achieved by Iraq in this field.
The Prime Minister urged the international organization to cooperate with the Iraqi private sector in the field of education and higher education, stressing the readiness of Iraqi public and private universities to benefit maximum from cooperation with UNICEF in various available fields.
For her part, Russell expressed her appreciation for the meeting in order to open paths of work and a broader partnership between Iraq and the programs of the international organization, and expressed her welcome and readiness to meet the Sudanese invitation to visit Iraq, pointing out that the organization recorded important developments in the family and children in Iraq during the work of the current government.
https://shafaq.com/ar/سیاسة/نيويورك-السوداني-يحث-اليونيسيف-على-التعاون-مع-القطاع-الخاص-العراقي
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