More News, Rumors and Opinions Friday PM 6-21-2024
KTFA:
Clare: Al-Moussawi: Election of a new speaker of parliament will accelerate the legislation of the oil and gas law
6/20/2024
Member of the Parliamentary Oil Committee, Zainab Al-Moussawi, announced the election of a new Speaker of Parliament who will expedite the legislation of the oil and gas law.
Al-Moussawi told {Al-Furat News} that: “Until now, there are no indications from the Sunni blocs to agree on a candidate for the presidency of the Iraqi parliament, due to the {Sunni-Sunni} differences and the splits that occurred within the Taqadum Party headed by Muhammad al-Halbousi.”
She pointed out that "in the event of a Sunni agreement, the vote will take place immediately after the end of the legislative term holiday, as the Shiite and Sunni political blocs are ready to vote."
Al-Moussawi confirmed, “The vote of members of Parliament on choosing a new candidate for the presidency of the Council will accelerate the approval of the suspended laws, including the oil and gas law, as the law within the committee is largely mature.”
Ragheed LINK
************
Clare: IBBC Spring Conference 2024
The Mansion House, London
2 July 2024
IBBC’s (Iraq Britain Business Conference) 15th Anniversary Conference: Iraq’s ‘Opportunities and Insights’
This is a big year for Iraq and IBBC as we celebrate our 15th anniversary and Iraq moves into a new prosperous and stable phase. As advocates for the private sector in Iraq, IBBC champions best practice, through our special reports and white papers for reform, and encourages the government of Iraq to modernise its systems and ministries to accommodate International best practice within Iraq.
‘Insights and Opportunities’ reflects the evolution of the Iraq economy and the mechanics and reforms that the country is undertaking, as the largest forum for discussion of Iraq’s challenges and opportunities.
About the Conference:
Opening the conference the President of the Confederation of British Industry (CBI) Mr Rupert Soames OBE will give a keynote speech from the British industrial perspective, and as a previous member of IBBC is well placed to comment of UK’s business relationship and opportunities with Iraq.
Of note is the presence of key delegates: H.E. Hayan Abdul Ghani Al-Sawad, Deputy Prime Minister & Minister of Oil, Ministry of Oil, H.E. Dr Mohammed Shukri, Chairman of the Kurdistan Investment Board, Dr Fareed Yasseen, Iraqi Climate Envoy, Eng Adil Karim, Deputy Minister of Electricity, KRG ministers and keynote address from Alderman Barr, The Rt Hon the Lord Mayor’ Representative, The Rt Hon Lord Howell of Guildford andBaroness Nicholson of Winterbourne, IBBC President.
Delegates will hear the latest report from Professor Frank Gunter on Foreign exchange and banking reforms the impact of dollar controls and how this might resolve, and to hear directly from Government minsters, including the Deputy Governor of Iraq’s Central Bank, Dr Ammar H. Khalaf, on the procurement opportunities across key sectors, such as agriculture, education, finance, transport, and regional development at special roundtables including for KRG and finance. H.E. Mr Asaad Al Eidani, Governor of Basrah, will be joining a panel and special Basra roundtable, as will Kurdish ministers at a KRG roundtable, chaired by Mr Jonathan Wilks, Oxford Centre for Islamic Studies
The Iraqi economy is quietly diversifying, with the evolution of services, travel, tech, and retail sectors, but the dominant energy sector is also evolving, with new players technologies and climate reduction activities. Oil and Gas are still at the centre of this conference and Iraq’s economy, with the Energy Panel, which see the big players in energy policy and practice including Eng Adil Karim, Deputy Minister of Electricity; Dr Luay Al Khateeb, Centre on Global Energy Policy – Columbia University, Ms Dunia Chalabi, TotalEnergies, Mr Zaid Elyaseri from BP, Mr Andrew Wiper from Basra Gas Company, Mr Hassan Heshmat from Hydro-C and Mr Ellis Renforth from Wood Plc
Yet transport is also set to boom, in both the ports and the dry canal project due to link Basra to Turkey with the Mediterranean, silk road and European markets. The project will have profound impact on cities along the route and for both import and export trade. IBBC member Mr Tugrul Titanoglu, CJ-ICM; and Mr Steve Alexandar, Sardar Group, will inform us of these changes and the evolution of electronic and port management systems already in place (see our ’23 report on ports here).
While these insights ensure everyone is better informed, there is always a significant networking and coming together of businesses and old friends and acquaintances. A reception the night before will celebrate not only IBBC’s 15 years, but also offer informal networking among delegates, speakers and founder members in the Mansion House and the chance to forge new friendships.
Iraq now enjoys a stable and focused government intent of reconnecting with the region, fiscal surpluses that are converting into new infrastructure projects, and a growing more prosperous population, keen for modernisation and the benefits of a consumer economy.
We are certain there will be big demand for tickets, so please register soon to avoid missing out. Join with us and share the insights and opportunities that a modern and stable Iraq now offers. LINK
Billuke: Iraq can't go here on a program rate........imo
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 $3.22 is the actual reinstatement...They're not going to reinstate it...but it would be enough to launch it into the float, let the float take care of it. The float will take it up to...$3.86...$4.25...$4.72. Inflation is the reason why they have been doing this RV that's leading into an RI but the RI is not feasible therefore due to inflation a float is necessary to take it to the real effective exchange rate, which may be around the numbers I suggested...
Frank26 $3.22 is the actual reinstatement...They're not going to reinstate it...but it would be enough to launch it into the float, let the float take care of it. The float will take it up to...$3.86...$4.25...$4.72. Inflation is the reason why they have been doing this RV that's leading into an RI but the RI is not feasible therefore due to inflation a float is necessary to take it to the real effective exchange rate, which may be around the numbers I suggested...
************
PROOF That The 2024 Economic COLLAPSE Is Coming
Atlantis Report: 6-21-2024
It’s clear now: the economic collapse of 2024 is not just a possibility; it's an imminent reality. The downturn in the financial sector has already begun, with regional banks experiencing significant failures, which is a sign of more widespread economic distress.
The regional banking sector has been hit hard in recent times. Last year saw the collapse of notable banks such as Silicon Valley Bank, Signature Bank, and First Republic Bank.
These collapses were not isolated incidents but rather a chain reaction, indicating systemic vulnerabilities.
The domino effect continued with the fall of Silvergate Bank and Heartland Tri-State Bank. Their combined $440 billion in assets made this the largest collapse since the inception of the FDIC, Federal Deposit Insurance Corporation.
Due to a series of bank failures, the FDIC faced significant challenges. To cover the losses, it had to use a large part of its insurance funds.
This raises a crucial question: How much money does the FDIC have left to handle future collapses? The answer is worrying: not much.
When you look into the FDIC's current financial status, it's clear that it's fragile, raising concerns about how it will handle further banking crises.