Today .. Iraq Stock Exchange resume its business after the holiday of Eid al-Fitr


6/20/2018

The Iraqi stock exchange, trading sessions, resumed on Wednesday after the end of Eid al-Fitr holiday.

The Iraqi Stock Exchange, has identified on Wednesday, June 20, the first trading session after the holiday of Eid al-Fitr.

It is noteworthy that the Council of Ministers has granted state employees official leave until Tuesday, on the occasion of Eid al-Fitr.

The General Secretariat of the Council of Ministers said that the working hours will be suspended on Sunday, Monday and Tuesday, and resume work, on Wednesday.

http://www.alsabaah.iq/ArticleShow.aspx?ID=158795

After (10) ends the life of parliament .. Will Iraq enter the constitutional vacuum?
6/20/2018


Baghdad / .. The legal expert Tariq Harb, on Wednesday, that after the end of the life of the House of Representatives, will not enter Iraq in the void Constitution.


"There will be no constitutional vacuum in Iraq and the Iraqi government will not be a caretaker government after the end of the parliament," he said.

"There will be only a parliamentary vacuum, and this is completely different from the constitutional vacuum."


He added that "the current government will not be a caretaker government, because the Constitution identified only two cases on this issue, the first is the questioning and withdrawal of confidence and the second is the dissolution of parliament, and what will happen is the end of the life of parliament, so the current government has full powers."

http://aynaliraqnews.com/index.php?aa=news&id22=100258

FEDERAL: Tomorrow is the date to consider appeals to amend the election law

6/20/2018

BAGHDAD / After the morning
, the United Nations expressed full confidence in Iraq in running the electoral process, stressing that it will continue to provide advice and assistance to Iraq.

While the parliamentary law pointed out that the failure to start the process of counting and sorting the results of the election depends on the opinion of the Federal Court on appeals, On Thursday, a date to consider the appeal of President Fuad Masoum and the Council of Commissioners to amend the election law.

"The Secretary-General has full confidence in Iraq’s ability to manage the electoral process in accordance with the Constitution," the spokesman of the UN Secretary-General, Stephen Dujarric, said in response to a question on the demands of counting and counting the results of the Iraqi parliamentary elections and the resolution passed by the House of Representatives.

And in line with the relevant laws as well as the procedures established by the independent institutions in the country », noting that« the United Nations will continue to provide advice and assistance to Iraq, according to the previous authorization, I mean that you know that in every country where the elections, there is Yeh special appeal and re – counting and sorting, so as to ensure that the process goes under the Constitution
and law ».

While the member of the legal committee of the parliamentary, Sadik al-Laban, in a press statement, that «not start the process of counting and sorting the results of the election depends on the opinion of the Federal Court on the appeals submitted on the third amendment to the parliamentary elections law», adding that «a number of political parties submitted A lot of appeals on the amendment of the
election law ».

Al-Labban added that «the Judicial Committee supervising the Electoral Commission will exercise the process of counting and sorting by hand after the Federal Court expressed its opinion on electoral appeals».

On the date of hearing the appeal of President Fuad Masoum and the Council of Commissioners to amend the election law, the spokesman of the court, Iyas Samok, said in a statement received by «morning», that «the Federal Court set at 10 am on Thursday, the 21st of June current, In a lawsuit against the Third Amendment to the Law on the Elections of the House of Representatives ».

"The suit is made by the president of the republic in addition to his job and from the Board of Commissioners and the
Kurdistan Democratic Party," Samok said .

In the meantime, the official spokesman for the state of law, Khaled al-Asadi, in a press statement, that «we have conclusive evidence on the manipulation of the results of the parliamentary elections», pointing out that «these fraud can not be tolerated and accept a political process lame».

Al-Asadi said that «skeptics quorum session of the House of Representatives to stay away from political bidding and resort to the Federal Court, which is to decide the constitutionality of the session or not», pointing out that «the coming days will see a correction in the political process and political stability by re-counting and sorting by hand».

In turn, warned the National Coalition led by Vice President Iyad Allawi, the repetition of what happened after the elections in 2010 with a different scenario, calling on the politicians of the former regime to fall into what he called the "cooked himself."

The coalition said in a statement received by «morning», that «one of the most important things that will hurt Iraq is to restore the elections witnessed in 2010 to exceed the benefits of Iraq’s winning coalition, and the abolition of the Constitution, and to circumvent the election results strongly»,

hailing the Iraqi judiciary distinguished that «be fair Especially those who fought and fought the despicable dictatorship in Iraq and founded the political process in it, and we call on everyone to commit to the interest of Iraq and its stability and unity and the safety of its people above all interests.

http://www.alsabaah.iq/ArticleShow.aspx?ID=158791

Alliance victory: {National Gathering} will be held early next week

6/20/2018

BAGHDAD / Al-Sabah
The Alliance of victory, on Tuesday, that the date of the «National Meeting» called by the President of the alliance Haider Abadi will be early next week, and pointed out that the meeting will include about ten lists winning the election, while the head of the coalition of state law, ,

That his coalition is working on the formation of a comprehensive alliance of Sunnis and Shiites and Kurds to form a majority government, denied the current wisdom of the national leadership, Ammar al-Hakim, the withdrawal of his current and turn it into an opposition front during the formation of the next government, while the leader of the alliance Saron, Raed Fahmi, Understanding with lists (wisdom and openness and The national) to form the largest bloc.

This comes at a time when a leader of the Kurdistan Islamic Group confirmed that the Kurdish parties rejecting the results of the elections will not enter into any alliance with the two main Kurdish parties to participate in the parliament and the next government, pointing out that all options are open to those parties, including the formation of a unified list to participate in parliament and the government Federalism.

Comprehensive Alliance

"All the political forces welcomed the invitation of the Prime Minister of the Nasser Alliance Haider al-Abadi to hold an expanded national meeting," said Hussein al-Adli, a spokesman for the Al-Nasr alliance. "It is hoped that this meeting will be held early next week and there are great preparations In this regard ».

"The aim of this meeting is to agree on the general features of the state administration and its institutions in the coming phase," he said.

"The meeting will include about ten lists that will win the elections and he will not address the issue of electoral appeals as a judicial issue.

For his part, the head of a coalition of state law,
Nuri al-Maliki said in a press statement: "Our coalition is working to reunite the five forces that registered an electoral presence, which could meet on the basis of non-dependence of any party in preparation for the formation of a preparatory committee for a comprehensive alliance open to all forces Sunni and Kurdish politics.

" "The coalition of state law is working to form a comprehensive alliance of Shiites, Sunnis and Kurds to form a majority," Maliki said.

"Those who believe in the majority will be considered partners and those who do not believe in them can go to the opposition according to the mechanisms of democracy.

" Maliki said, "It is too early to talk about alliances unless the course of the electoral process is corrected and the final results of the election are confirmed," expressing "concern about entering Iraq in a constitutional vacuum after the 30 of June this is the date that ends the work
Parliament ».

The wisdom denies his withdrawal in turn, between the head of the parliamentary bloc of wisdom, Habib terminal, in a press statement, that «political understandings between the people and openness and wisdom is very large and reached the maturity of political», denying the «withdrawal of his current and turn it into an opposition front during the formation of the next government».

He added that "wisdom did not put a condition on all political blocs and looks to match the views in the alliances to form the next government," pointing out that «Surun and Fatah are closer to the wisdom of the alliance together and there is no option of withdrawal or opposition so far».

In the same context, the leader of the alliance of Sason, Secretary of the Communist Party of Iraq, Raed Fahmi, that «all contacts made by the alliance with the rest of the blocks are preliminary understandings of the emergence of the largest bloc», noting that «we do not know why some feel them» .

Fahmy added that «according to the current data, the alliance of others enter the stage of advanced understandings with (conquest and wisdom and national), a candidate to be meetings with blocks of Kurdistan and other blocs, and if it reached final results will form the nucleus of the largest bloc», pointing out that «everyone Agree on reform and fight against corruption, foreign policy, etc., but must provide concrete words and practical commitments applicable to citizens ».

And on the invitation of Prime Minister Haider Abadi political blocs to hold a meeting after the Eid al-Fitr, between Fahmi «We as a Communist Party have not yet received an official invitation by Abadi to attend the meeting, which we do not know also what it contains».

He also called on the Federal Court to «take a decision on appeals for elections, because it is currently disrupting the political scene and the formation of the next government
».

In a televised speech last Thursday, Prime Minister Haider al-Abadi called on the political blocs to hold a high-level meeting immediately after the Eid al-Fitr holiday and in a place to be determined later on after consultation.

"To put our hands in the hands of some to protect the homeland and the citizens and ensure the political process and gains Democracy and agreement on specific mechanisms to accelerate the formation of constitutional institutions as best as possible and relying on our national decision and the interests of our country and our people ».

Kurdish parties
In a statement to the press, the leader of the Kurdistan Islamic Group, Shwan Rabar, pointed out that "the Kurdish parties rejecting the results of the elections have not yet decided to participate in the next Iraqi government," adding that "these parties are keen to implement the decisions of the Iraqi parliament and the Federal Court On manual counting and sorting ».

"The parties rejecting the results of the elections do not participate in any alliance with the Kurdistan Democratic Party and the Patriotic Union of Kurdistan to participate in the next Iraqi government," adding that "all options open to them, including the formation of a unified list to participate in parliament and the Iraqi government.

Rapper promised that "the participation of parties that reject the results of the elections with the two parties and the PUK without changing the election results means recognition of the results achieved by the
two parties."

http://www.alsabaah.iq/ArticleShow.aspx?ID=158787

Currency window and return scarcity

6/20/2018

The financial crises that hit the countries of the world without exception are many and their effects varied between state and another depending on the hedges and actions taken by the monetary authorities and the executive bodies of the government to counter these effects and try to overcome them or reduce the effects of pain.

Perhaps most of the economies of the world are concerned about the storms of these crises, which occur from time to time, so that all concerned parties, especially the monetary policy and those who are represented by central banks are dedicated to avoid the adverse effects of the financial crisis in a particular country, and to talk.

This introduction was marketed after the emergence of a crisis of liquidity may be exposed to private banks felt by the Association of banks as a result of the inevitable and expected, because the dollar and the likelihood behind these fears.

Two months ago, she warned that there would be an impact on banking activity because of the stability of the dollar exchange rate at the same border with the parallel price in the market, which will cause a reduction in the rate of return "profits" obtained by banks.

Since most banks have relied entirely on the currency window in the fulfillment of all their obligations and various expenses on the volume of return, was alert that the situation foreshadowing the possibility of the collapse of some banks and their loss and exit from the market.

And it seems that the continuation of the exchange rate at this limit has been affected, and that these risks have stimulated the Association of Banks to search for the means that work to continue in the market,

and as one of the most important duties of the Central Bank of Iraq to hedge any potential crisis may urge banks, To hear the views and proposals of the Association on them and based in light of the conditions of banks and what passes by to be a solution at hand.

All the measures are possible and available to the central bank to rescue banks from the risks and tribulations; but the question is more important to what time periods can the central bank, and when exhausted all the means available to the central what to do?

In this case, banks should reconsider their activities and products in order to remain in the market. Otherwise, the situation foreshadows the collapse of banks that can not arrange their positions.

This calls on banks to act quickly to avoid the causes and effects of potential crises by returning to income-producing banking products and not relying on the currency window forever.

The banks are also invited to take into account the objectives of the Association in cooperation with the Central Bank behind the adherence to the program of financial inclusion and try to make the most of the revenues that may enrich them in the future revenues of the window even though less but do not allow to leave the market.

http://www.alsabaah.iq/ArticleShow.aspx?ID=158800

By Wassim Bassem for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News

Iraq’s favorite lake dries up in sign of worse to come

Karbala’s Lake Milh hasn’t seen a lot of visitors in the last few years. Once a popular picnic destination for Karbala residents, the lake’s water has dwindled, leaving most of it a desert with nothing but derelict fishing boats and dead animals.

The second-largest lake in Iraq, Lake Milh is also known as Lake Razzaza; it lies west of Karbala and southwest of Baghdad. It is fed by the Euphrates River as well as rainfall and groundwater sources. Over the last decade, however, it has been drying up.

Saeed Ali, a fish vendor who lives near the lake, told Al-Monitor, “The lake was an important source of fish in the ’80s and ’90s. But with time, it has become a mere pond that will one day dry out completely if the issue is not addressed.”

Furat al-Tamimi, head of the parliament’s Committee for Agriculture, Water and Marshlands, said the situation requires immediate attention. He told Al-Monitor, “The Ministry of Water Resources and the committee are informed of the situation at Lake Milh. We are tracking the declining water levels at the lake with great concern. This is also happening in many other lakes and rivers.”

Tamimi said the lake’s falling levels are related to the drought that has plagued Iraq since 2017; some estimate the drought will continue until 2026. But there are no plans to restore the lake, said Tamimi, a deputy from Ammar Hakim’s Hikmat movement. He said a number of civil society activists and specialists on natural resources in Karbala province have criticized the “government’s idleness over the water crisis in Lake Milh,” with some activists working together on a media campaign to draw the world’s attention to the lake.

Engineer Aoun Thyab, the most senior member of the advisory board of the Ministry of Water Resources, said the problem is much more complicated. “Addressing this problem is not so simple,” Thyab told Al-Monitor. “Protests and calls on environmental groups won’t solve it because the problem is related to internal and regional policies involving the water sector, as well as the rain and streams that flow from the desert.”

Thyab said the Ministry of Water Resources dropped Lake Milh entirely from its water supply calculations in a 2015 strategic study. “As such, Lake Milh is no longer seen as useful for irrigation, water storage or fish farming.”

He said Lake Milh’s levels decreased from 34 meters (112 feet) above sea level to 20 meters (66 feet) with the drought. “This was due to a number of overwhelming factors, especially the decrease in the Euphrates River, which is the lake’s inflow, because of the Turkish dams that reduced Iraq’s water share. Add to this the scarcer rainfall in recent years and the depletion of streams that flow from the desert around the lake.”

He said, “Lake Milh has also seen higher evaporation levels, which increased salinity, making it effectively impossible for fish to inhabit the lake.” Thyab said that in the 1990s the Iraqi Ministry of Agriculture experimented with a project to farm sea fish but that project proved to be a failure. “It is safe to say that the lake is dead.”

Thyab’s remarks indicate that it would be next to impossible to restore Lake Milh as a tourist attraction whose beautiful flora and fauna once brought foreign and Iraqi tourists from every province.

Karbala has also suffered greatly from the armed conflicts in the last decade, most recently when armed groups who fought against the Iraqi state used it as a base. The city of Karbala’s practice of draining polluted water into the lake has also contributed to the problem.

But there is hope for the lake yet. In January, the Iraqi National Investment Commission (NIC) unveiled a $25 million investment project to rehabilitate and develop both Lake Milh and al-Habbaniya, a lake linked to Milh by the narrow Sin-Al-Thibban Canal.

The project includes building a tourist attraction over approximately 4,000 acres and overhauling the existing hotels and 200 apartments to modern standards, as well as a full amusement park, a marina, world-class restaurants and a media center.

The locals worry that the efforts come too late to save the lake. Local engineer Fayez Eisa, who oversees the area’s anti-desertification project, told Al-Monitor, “Tired of dealing with the bureaucratic red tape on contracts and permits, the Karbala Holy Shrine administration has established a green belt around 2000 dunams (494 acres) of desert land, where they dug dozens of wells to provide water to the farming areas around Lake Milh.”

Lakes such as Milh represent essential natural reservoirs in efforts to fight the drought that haunts Iraq’s agriculture sector. Cooperation with neighboring countries to restore and protect them will be crucial to the region’s survival.

(Picture credit: عمر سيروان)

By Alexander Southworth, Iraq Britain Business Council (IBBC).

IBBC Long Read: The Station – Iraq’s the first combined workspace in Iraq, providing tech and artistic entrepreneurs with a communal space and resources to develop and expand business projects.

The Iraq Britain Business Council (IBBC) recently completed a mission to Baghdad, where Christophe Michels, Managing Director and Eng. Rasmi Al-Jabri Deputy Chairman, visited The Station, Iraq’s first combined workspace in Iraq, providing a hub for artistic & tech entrepreneurs to develop and expand business projects.

Located in Baghdad, The Station’s vision is to create a healthy work environment by providing entrepreneurs with experiences to develop and expand their projects. The institution aims to facilitate this entrepreneurial spirit by providing the space, support and resources to help build and develop ideas and implement them on the ground in a society which is heavily weighted towards public sector activity.

While Iraq is a middle-income country, it faces significant challenges more commonly found in low income nations. Such as a dependence on a primary commodity (crude oil), which generates 95 percent of its budget* while only employing 1 percent of the available labour force and a heavily weighted public sector, which accounts for around 60% of employment, with the government providing 40% of jobs.

This is why The Station is such an exciting initiative, it is a boost to a small but growing number of young Iraqis willing to engage and develop the private sector in Iraq. Iraq has one of the most youthful demographics in the world, with nearly half its population being less than 21 years of age.

Young Iraqis, faced either with closed avenues to public sector employment or who do not wish to conform to a status quo which does not reward entrepreneurial spirit, can find at The Station an environment which does just the opposite, facilitating a hub of ideas and resources beneficial to inspiring entrepreneurs.

Inspiration behind the Idea

The founders visited various innovative hubs/co-working spaces around the Middle East and were inspired by the activities and the economic/social impact they were having in those specific communities. They sought to replicate these spaces, but in a way that is relevant to Iraq. The co-founders are entrepreneurs themselves, and they understand the obstacles faced by entrepreneurs and small businesses. Therefore, they decided to create a space with all the facilities they believe are needed to help such an environment thrive. The idea of The Station was not merely to create a physical space but a cultural one.

Haider Hamzoz Media Director at the Station explained that: “Young people in Iraq as a whole aspire to work in the public sector upon graduation, because there have been no viable options other than that. It is not recommended to take huge risks such as investing in a business venture (unless it is a restaurant or barber shop) because there is no track record of such activities in Iraq – at least not in the last two decades. However, start-ups require risk-taking and we want to build a community of risk takers and innovators.”

Funding & Support

The Station was founded by Mujahed al-Waisi, Muhanned Munjed and Ali Tarik. The Station has received funds from The Al-Handhal International Group and is supported by the Iraqi Private Banks League, Earthlink and the Embassy of the Kingdom of the Netherlands in Baghdad.

Future Direction

The Station is working towards starting an incubator program, to empower the ecosystem in Iraq. It also aims to establish and/or partner with venture capitals to fund and invest in startups, businesses and entrepreneurs. The Station also wants to be a driving force in policy advocacy through international agencies and diplomatic entities to empower the Iraqi private sector, and the role of the youth within this sector.

The Station is currently establishing its own Research and Development Centre that will offer a myriad of services, such as mentorship and policy advocacy. Activities will revolve around engaging the youth in discussions and research, not only with the private sector but with the public sector itself, essentially bridging the gap between the government and its citizens, and this is a development that ought to be celebrated because it will empower not only the Iraqi economy but its democratic institution. The Station is seeking to expand to Mosul in the next two years and has plans to develop a Station in the South and on the other side (Al-Karkh) of Baghdad. This hugely positive development

Haider Hamzoz Media Director at the Station says: “With the erosion of ISIS, the youth are in need of a healthy environment more than ever to feed their self-development and we are building a foundation that will allow them to become world-thinkers, innovators and successful role-models for the new generation to come.”

For more information please visit: http://the-station.iq/ or contact info@the-station.iq

*Source: UNIraq  http://www.uniraq.com/index.php?option=com_k2&view=item&layout=item&id=941&Itemid=472&lang=en

(Source: IBBC)

By John Lee.

Fly Erbil, Iraq’s only Kurdish airline, successfully completed its first scheduled flight on Monday.

The plane set off from Erbil International Airport en route to Stockholm in Sweden.

The airline’s administrative director Ahmad Jamal told AFP that Fly Erbil currently has three planes and plans to increase to 10 in the future.

Other destination served include Gothenburg (Sweden), Amsterdam (Netherlands), Birmingham (UK), Kiev (Ukraine) and Nuremberg (Germany).

(Sources: AFP, Fly Erbil)

Combined Joint Task Force Operation Inherent Resolve and its partners have increased offensive activity against Islamic State of Iraq and Syria targets in designated parts of Iraq and Syria throughout the months of May and June.

Since the May 1 start of Operation Roundup, Syrian Democratic Forces resumed major offensive operations in the Middle Euphrates River Valley. Since then, the SDF has continued to gain ground through offensive operations coupled with precision coalition strike support.

Combined Joint Task Force Operation Inherent Resolve and its partner forces continue to exert pressure on ISIS senior leaders and associates in order to degrade, disrupt and dismantle ISIS structures and remove terrorists throughout Iraq and Syria. ISIS morale is sinking on the frontlines as privileged ISIS leaders increasingly abandon their own fighters on the battlefield, taking resources with them as they flee.

Over the coming weeks, Operation Roundup will continue to build momentum against ISIS remnants remaining in the Iraq-Syria border region and the middle Euphrates River Valley. The coalition remains committed to the lasting defeat of ISIS here, increasing peace and stability in the region and protecting all our homelands from the ISIS threat.

Coalition military forces conducted 26 strikes June 11-17, consisting of 36 engagements in Iraq and Syria.

Strikes in Syria

On June 17 near Shadaddi, coalition military forces conducted a strike consisting of two engagements against ISIS targets, destroying two ISIS fighting positions.

On June 16 near Abu Kamal, coalition military forces conducted three strikes consisting of three engagements against ISIS targets, destroying two ISIS supply routes.

On June 15, coalition military forces conducted three strikes consisting of three engagements against ISIS targets. Near Abu Kamal, a strike engaged an ISIS tactical unit and destroyed an ISIS vehicle. Near Shadaddi, two strikes engaged an ISIS tactical unit, destroying an ISIS vehicle and an ISIS anti-air artillery system.

On June 14, coalition military forces conducted two strikes consisting of two engagements against ISIS targets. Near Abu Kamal, a strike destroyed an ISIS-held building. Near Shadaddi, a strike destroyed an ISIS logistics hub and an ISIS fighting position.

On June 13, coalition military forces conducted seven strikes consisting of seven engagements against ISIS targets. Near Abu Kamal, four strikes destroyed two ISIS vehicles, an ISIS supply route and damaged an ISIS vehicle. Near Shadaddi, three strikes engaged an ISIS tactical unit, destroying an ISIS tactical vehicle, an ISIS line of communication and an ISIS headquarters.

On June 12, coalition military forces conducted four strikes consisting of 10 engagements against ISIS targets. Near Abu Kamal, a strike engaged an ISIS tactical unit. Near Shadaddi, three strikes engaged an ISIS tactical unit, destroying two ISIS fighting positions and three ISIS lines of communication.

On June 11 near Abu Kamal, coalition military forces conducted three strikes consisting of three engagements against ISIS targets, destroying three ISIS supply routes.

Strikes in Iraq

There were no reported strikes conducted in Iraq on June 15-17.

On June 14, coalition military forces conducted two strikes consisting of four engagements against ISIS targets. Near Basheer, a strike engaged an ISIS tactical unit and destroyed seven ISIS-held buildings. Near Rutbah, a strike engaged an ISIS tactical unit.

There were no reported strikes conducted in Iraq on June 13.

On June 12 near Basheer, coalition military forces conducted a strike consisting of two engagements against ISIS targets, destroying two ISIS tunnels and an ISIS supply cache.

There were no reported strikes conducted in Iraq on June 11.

Definition of Strikes

This coalition strike release contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft, rocket-propelled artillery and ground-based tactical artillery.

A strike, as defined by coalition officials, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single, sometimes cumulative effect in that location. For example, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined.

Task force officials do not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target.

(Source: US Dept of Defense)