More News, Rumors and Opinions Tuesday PM 6-18-2024
TNT:
Tishwash: International Finance: Economic reform in Iraq is witnessing an increasing pace and we have invested about two billion dollars
The representative of the International Finance Corporation in Iraq, Bilal Zaghir, confirmed today, Tuesday, that the institution’s investment in Iraq has reached nearly two billion dollars since 2005, while indicating that economic reform is witnessing an increasing pace.
Zaghir told the Iraqi News Agency (INA): “The work of the International Finance Corporation dates back to the year 2005, and over the years we have been able to invest approximately two billion dollars in a wide range of sectors,” noting that “our work in Iraq will extend our belief in the future prospects of Iraq and the acceleration of the pace of reform.”
"This will be reflected positively in creating other investment opportunities in all sectors, whether industrial, infrastructure, or in the financial and banking sectors."
He added, “The International Finance Corporation is the arm of the World Bank that is concerned with developing the private sector by providing the necessary financing for private sector projects in addition to providing advisory services. Therefore, the framework of the institution’s work expands to include a wide range of financial services to all companies operating in Iraq, in addition to providing consulting services".
Zaghir continued, “The IFC’s thinking relates to a group of sectors whose importance we believe and whose importance we share with the Iraqi government, whether investing in the Iraqi industrial sectors, where they are productive and an alternative to imports, and the second part relates to the financial sector, both its banking and non-banking parts, in addition to the importance of investing in infrastructure and improving the services provided.” For Iraqis throughout the country,” pointing out that “the main point is our work and encouraging the private sector and working with it.” link
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CandyKisses: Urgent The first official holiday of its kind in Iraq next Tuesday
{Local: Al-Furat News}
On Tuesday of next week, Iraq will witness the first official holiday of its kind in the country.
June 25 falls on the 18th of Dhu al-Hijjah, and will be an official holiday in the Iraqi provinces on the occasion of Eid al-Ghadir, which was recently approved by parliament.
A member of the parliamentary legal committee, Aref Hamami, said that "the holiday will include all Iraqi provinces, including the Kurdistan region" as a federal holiday.
The Alawite holy shrine in Najaf has begun preparations to celebrate Eid al-Ghadir.
It is noteworthy that the House of Representatives voted on the law on public holidays on May 22, which includes about 11 days a year, as well as public official holidays, which are Friday and Saturday, with the authority of the Council of Ministers to cancel the Saturday holiday when necessary.
The official holidays law, which was voted by parliament, includes, Friday and Saturday as official holidays throughout Iraq, in addition to Eid al-Fitr and al-Adha, Labor Day, Eid al-Ghadir, the 10th of Muharram, the first of Muharram, the Prophet's birthday 12 Rabi' al-Awwal, New Year's Day, Army Day 6 of January, Nowruz 21 March, and 16 March was added at the last moment, which is the day or anniversary of the Halabja tragedy.
The law also granted some "dedicated" public holidays, i.e. not public, to minorities, including Jesus, Sabians and Yazidis.
The law also included the deletion of important and detailed occasions in the history of Iraq and Iraqis, including July 14, which is the anniversary of the fall of the monarchy and the founding of the republic, and two important occasions were not included in the law and were deleted, which is December 10, the anniversary of the victory over ISIS, as well as the Iraqi National Day on the third of October, which is the anniversary of Iraq's accession to the League of Nations and its official recognition as a state.
The Day of Ghadir is the eighteenth day of the month of Dhu al-Hijjah of the tenth year of the Prophet's migration, and it is the day on which the greatest Prophet Muhammad (peace be upon him) Ali bin Abi Talib (peace be upon him) was appointed successor after him.
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man All we're looking for now, to some degree, is when are they going show these amendments to be law. We heard different things about the president having to sign, not sign, we have 15 days time frames and people are debating on when that time frame starts - was it June 3rd or was it the day he received it? Do we know the exact day he received it? I don't. But we know our time is short...Once the amendments are passed into law, we'd like to think that prior to that they're going to expose the new real effective exchange rate and probably mention they've done the project to delete the zeros which get you the nominal effective exchange rate.
6-18-2024 Intel Guru Frank26 [Iraq boots-on-the-ground report] FIREFLY: Oil experts are saying Saudi Arabia did not resign up their agreement to deal oil in US dollars. It was an 80 year agreement...They're telling us Iraqi citizens on our television this will strengthen the local currency. Basically they're saying that it is a float of the Iraqi dinar that is helping us get away from the American dollar so the Iraqi currency will be stronger. FRANK: The next step is to float.
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BRICS Overtake EU: What Next?
Fastpo: 6-18-2024
In 2024, BRICS+ has significantly expanded its membership, including nations such as Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE.
This expansion enhances the bloc's economic and demographic influence on a global scale. Collectively, BRICS+ now accounts for about 37.3% of the global GDP and represents 46.5% of the world's population.
Before the inclusion of new members, the original BRICS countries had a combined GDP of $27.7 trillion, or 26% of the global GDP.
With the new additions, this figure rises to approximately $30.8 trillion, pushing their share of the global GDP to around 29%.
Moreover, in terms of purchasing power parity (PPP), the expanded BRICS now accounts for over 36% of global GDP, surpassing the G7's share.
This video delves into the contrasting approaches of the EU and BRICS, exploring how the EU's environmental and sustainability initiatives stack up against the economic ambitions of BRICS.
We examine how these differing priorities are likely to shape the future of international economic cooperation and efforts towards global sustainability.