More News, Rumors and Opinions Thursday PM 10-3-2024
TNT:
Total 140 days.. Financial costs of holidays in Iraq
Today, Thursday (October 3, 2024), economic expert Nabil Al-Marsoumi revealed the financial costs of holidays in Iraq, while confirming that their total is 140 days.
Al-Marsoumi said in a post on Facebook, which was followed by "Baghdad Today", that "the total annual salaries of employees and others amount to 90 trillion dinars," indicating that "the total number of Fridays and Saturdays is 104 days in the year."
He added, "The total number of official holidays in Iraq, excluding special holidays, is 16 days, while the total number of unofficial holidays is approximately 20 days, while the total number of official and unofficial holidays is 140 days."
The expert continued, "The number of actual working days per year is 225 days, while the daily cost of official and unofficial holidays, including Friday and Saturday, is 246 billion dinars," stressing that "the annual cost of official and unofficial holidays is 34 trillion dinars."
He pointed out that "the annual cost of official and unofficial holidays, except for Friday and Saturday, amounts to approximately 9 trillion dinars, while the annual cost of unofficial holidays amounts to approximately 5 trillion dinars."
He pointed out that "Iraq is the first country in the world in terms of official and unofficial holidays, and it is the highest in the world, while there are 8 official holidays in England and Wales."
He believed that "both types of holidays cause huge financial losses to Iraq, especially the unofficial holidays that are granted for various reasons, including rain, high temperatures, and visits. This loss in unofficial holidays is equivalent to the annual budget of Syria," recommending "limiting the authority to grant official and unofficial holidays to the Presidency of the Council of Ministers."
Every year, on October 3, Iraqis celebrate the Iraqi National Day, which marks the declaration of Iraq's independence from the British mandate and its accession to the League of Nations in 1932 link
************
Tishwash: Iraq launches financial transfers in euros
The Central Bank of Iraq launched its financial transfers to Turkey in the euro currency.
This was announced during the reception of the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, the Ambassador of the Republic of Turkey to Iraq, Anil Bora Inan, with a delegation of representatives of Turkish banks operating in Iraq, according to a statement by the Central Bank of Iraq.
The statement indicated that the meeting coincides with the launch of financial transfers to Turkey, according to a new mechanism carried out in the euro currency and implemented within Turkey through its banks. This mechanism, which is being applied for the first time, will simplify trade coverage operations with high fluidity and speed.
The attendees discussed ways to provide the requirements of the new mechanism; in order to make it a success and accommodate the large number of transfers from merchants and the business sector.
The statement pointed out that the bank representatives expressed their readiness to implement the new mechanism and provide the regulatory and supervisory requirements in coordination with the international auditing company, and they also demonstrated their efforts in the context of expanding their channels with approved correspondent banks.
For his part; The Turkish Ambassador praised the efforts of the Central Bank in managing the process of transformation in foreign transfers, and the measures taken by the bank to organize and facilitate the transformation processes, praising his meeting with the Governor of the Central Bank of Iraq and the continuous and direct coordination between the Central Bank’s management and authorized banks, according to the statement. link
************
Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat Prime Minister Mohammed Shia al-Sudani expressed, on Thursday, Iraq’s readiness to enter into a partnership with American companies in the oil industry sector, revealing at the same time his government’s intention to establish a new Iraqi bank. This came during his participation in New York...can the news get any better? Finally the US is engaging Iraq and seriously taking on partnerships, especially in the energy sector. So we know if the US is invested in Iraq something is up….
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
On the news Alaq came in and talked again about the deletion of the three zeros and he said we have a process to enhance the dinar. He was explaining how they are going delete the three zeros and add value...Then this idiot comes on TV and he says to us dropping the zeros will not lead to a value increase. He's just a fool that hates this is happening. That's all Alaq talked about, again saying it's under constant review. FRANK: As far as the guy that comes out and says this is not good, that's it's negative...this is not being sent to you by Sudani...Don't pay attention to them. Only pay attention to your true leader Sudani.
************
THE LARGEST TRANSFER OF WEALTH IN HISTORY. AND THERE IS NO WAY TO STOP IT.
Greg Mannarino
"It's SOON, Time To Get Prepared For Something Huge" | Mike Maloney (30 Seconds to Midnight)
10-3-2024
n this eye-opening video, Mike Maloney dives deep into the economic warning signs that signal an impending financial crisis. The parallels between today and the 2008 crash are undeniable.
Charts from market experts reveal shocking similarities between the 2024 and 2007 rate cuts, while key indicators like the Sahm Rule and bond yield inversions show we're either in or nearing a recession.
Discover why national debt, credit card defaults, and real estate delinquencies are skyrocketing - and how this could trigger the greatest financial meltdown in history.
Time is running out, and the global implications are immense. Get informed and get prepared.