Iraq Economic News and Points To Ponder Monday Afternoon 6-17-24

Iraq Economic News and Points To Ponder Monday Afternoon 6-17-24

Iraq Contracts With An American Company To Develop Oil Refineries

Economy | 04:16 - 06/17/2024  Baghdad - Mawazine News  The Ministry of Oil clarified on Monday the details of the memorandum of understanding signed with the American company Honeywell to develop refineries.

Deputy Minister of Oil for Refining Affairs, Hamid Al-Zobaie, said in a statement received by Mawazine News, “There is a memorandum of understanding signed by the Minister of Oil under the auspices of the Prime Minister with Honeywell, which is one of the large specialized companies with extensive work in all activities,” noting. To "conduct a workshop with the company regarding refinery activity."

Al-Zobaie explained, “The memorandum that was signed aims to develop projects for developing refineries and to meet what was directed by the Prime Minister regarding the refinery capacity reaching 40 percent of the production capacity of crude oil,” noting that “raising the refinery capacity to 40 percent will add value to the crude oil produced and lead to To raise financial returns and thus support the national economy.”

He pointed out that "7 projects were discussed regarding refineries, with a capacity of 70 thousand barrels for each project, in the governorates of Maysan, Dhi Qar, Muthanna, and Najaf Al-Ashraf, in addition to the third unit in the Al-Dawra, Haditha, and Qayyarah refineries."

He pointed out that "the Ministry's plan was presented and discussed extensively with Honeywell during the workshop held, and it is hoped that a complete vision will be presented by the company regarding the process of developing the refineries with the proposed capabilities during the next two weeks."

He added, "Honeywell is known for its technical and technological expertise and capabilities, and it is important for gaining and transferring expertise to national cadres and developing facilities," stressing that "after completing the preparation of the projects, the implementation mechanism and time periods for their completion will be determined."

He noted that "the Prime Minister paid great attention to the refinery sector through development and raising the capabilities of refineries due to its great economic importance," noting that "great achievements have occurred in the refinery sector during the past short period, represented by the completion of the fourth unit in the South Refinery, which added 70,000 barrels of refining capacity, in addition to...

About the Al-Azmra unit in the same southern refineries, which will be opened very soon, as it added about 1,200 cubic meters of high-octane gasoline, as well as the completion of the Al-Azmra unit in the Doura refinery and the rehabilitation of the North refinery in record time, which added refining capacity of up to 150,000 barrels.

He continued, "During the next few days, the CCR unit in the North Refinery will enter service and will add approximately 3,000,000 liters of high-octane gasoline. The Izmora unit in the North Refinery has also been operated," stressing that "all of these projects were completed in a very short period of time."

He continued, "The upcoming projects, which will enter service soon, will be a contributing factor in raising refining capacities and filling the local consumer need for some products, including the FCC unit in the southern refineries, as it is hoped to be completed in the first half of next year, as it will add gasoline production.

" High octane capacity of 4,000 cubic meters to 4,000,000 cubic liters, and we also have projects for refining capacity additions in Haditha refinery, during the current quarter of this year, adding 20,000 barrels.”

He pointed out, "The Prime Minister directed the Ministry of Oil to prepare a study that includes establishing a pipeline network adjacent to the development road that meets all the future strategic plans of the Ministry of Oil from the fields to the transportation process, in order to facilitate the process of transporting crude oil and gas between the north and the south, as well as export ports." https://www.mawazin.net/Details.aspx?jimare=249856

Among Them In Iraq...The Most Prominent Global Oil And Gas Discoveries In 2024

 Money and business   Economy News - follow up  Global oil and gas discovery volumes in April 2024 fell by 76% month-on-month, with Latin America and the Caribbean accounting for the majority of new volumes discovered.

The global total volumes of discovered gas and oil liquids reached 230 million barrels of oil equivalent in April 2024, according to recent data.

In contrast, global oil and gas discovery volumes saw a slight increase of 0.9%, compared to total discoveries of 228 million barrels of oil equivalent in the same month of 2023.

Oil liquids constituted the majority of the volumes discovered in April 2024, at 89%, equivalent to 200 million barrels of oil equivalent, while the percentage of gas volumes discovered was 11%, equivalent to 5 billion cubic metres.

Volumes Of Global Oil And Gas Discoveries In 2024

During the first 4 months of 2024, the total volumes of global oil and gas discoveries reached 1.7 billion barrels of oil equivalent, up from 1.2 billion barrels of oil equivalent during the same period in 2023, according to the monthly report, recently issued by the Gas Exporting Countries Forum.

Last month, 8 new gas and oil discoveries were announced, 4 of which were offshore.

Regionally, Latin America and the Caribbean dominated new discoveries in April with 47%, mostly in Brazil and Colombia.

While Africa represented 33% of the volume of global oil and gas discoveries last April, followed by the Asia-Pacific region with 12%, then Europe with a share of 8%.

Most Notable Discoveries

The most notable global oil and gas discovery announced in April 2024 was the onshore Chutadoro gas field in Colombia, with recoverable reserves estimated at 3.2 billion cubic metres.

The UAE's Mubadala Energy Company has made another landmark gas discovery in Indonesia, this time in Tangkulu, located in the South Andaman region, with recoverable reserves of more than 55 billion cubic metres.

This new discovery by Mubadala Energy, which follows the Liaran discovery in December 2023, would make the South Andaman region one of the most promising gas regions in the world.

Iraqi licenses and Korean exploration

One of the most prominent recent developments in the oil and gas exploration sector is the launch by the Iraqi Ministry of Oil of the sixth oil and gas licensing round, the first round in the country since 2018, according to what the Energy Research Unit reviewed.

The tour includes a total of 29 onshore areas for oil and gas exploration in 12 governorates, with the aim of attracting investments in these areas.

According to estimates, expected gas production from new Iraqi oil and gas licensing rounds - which have witnessed Chinese dominance - will reach 8.3 billion cubic meters annually.

In the same context, South Korea launched a new exploration campaign to explore oil and gas in the depths of the East Sea, according to what was monitored by the Energy Research Unit.

The South Korean President announced that there is a high probability of discovering up to 14 billion barrels of oil equivalent (boe) of oil and gas resources off the coast of Yongil Bay, near the city of Pohang.

If these discoveries are successful, the results of which are expected to be confirmed during the first half of 2025, they could meet South Korea's gas consumption needs for up to 29 years, and oil consumption for 4 years.   98 views 06/17/2024 - https://economy-news.net/content.php?id=44373

Oil Prices Exceed $83 Per Barrel

Economy | 04:45 - 06/17/2024  Baghdad - Mawazine News  International oil prices stabilized above $83 per barrel in trading by 4 p.m. Baghdad time.

The price of Brent crude futures reached $83.09 per barrel, up by about 1% from yesterday’s prices.

While the price of American crude reached $78.82 per barrel, rising in the same manner from yesterday’s close.   https://www.mawazin.net/Details.aspx?jimare=249857

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

Pain makes man think. Thought makes man wise. Wisdom makes life endurable.  - John Patrick

Time engraves our faces with all the tears we have not shed.  - Natalie Clifford Barney

Suffering raises up those souls that are truly great; it is only small souls that are made mean-spirited by it.  - Alexandra David-Neel

To live is to suffer, to survive is to find some meaning in the suffering.  - Roberta Flack

If you suffer, thank God! It is a sure sign that you are alive.  - Elbert Hubbard

Suffering is also one of the ways of knowing you're alive.  - Jessamyn West

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

“Tidbits From TNT” Monday 6-17-2024

TNT:

More than 100 suspended laws in the Iraqi Parliament

Member of the Parliamentary Legal Committee, Muhammad Anouz, revealed on Sunday that the Iraqi Parliament is suffering from the disruption of more than 100 laws, including important laws that were withdrawn by the government to make amendments to them.

Anouz told Shafaq News Agency, “Among the suspended laws are the Flag Service Law, the National Oil Company Law, and the Federal Civil Service Law, in addition to many other laws.” He added, "These laws were withdrawn in an official letter by the government with the aim of amending them."

Anouz explained that "other important laws that suffer from obstruction in the House of Representatives are halted for political and technical reasons, including the General Amnesty Law and the Federal Court Law." 

He expressed his hope that "these laws will be passed during the next legislative term. link

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Tishwash:  Al-Badri: America is using pressure cards to maintain the presence of its forces in Iraq

 Political analyst Saeed Al-Badri said on Monday that Washington continues to use pressure cards against Baghdad in order to perpetuate the presence of its forces inside Iraq and the region.

Al-Badri told Al-Maalouma, “The American administration has no seriousness in removing its forces from Iraq, as it is using pressure cards in order to perpetuate the presence of its forces in Iraqi camps and lands.”

He added, "The government's position must be clear by dropping the pressure cards used by the American administration."

He stated that "the presence of American forces inside Iraq raises concern, and is considered a destabilizing factor for the entire region."  link

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Tishwash: Iraq Seeks to Boost Economic Ties with Lebanon, Syria

The head of Iraq's National Investment Commission (NIC), Dr. Haidar Mohammed Makkiya, has met with the Lebanese Minister of Economy and Trade, Mr. Amin Salam. During the meeting, Makiya affirmed Iraq's desire to expand cooperation in the investment sector.

The NIC chairman stated that the Iraqi government aims to achieve integration in economic and trade relations between Iraq and regional countries, including Lebanon.

The meeting included discussion of the project to rehabilitate the existing oil pipelines between Syria and Lebanon, with investment funding by the Iraqi side, while safeguarding the sovereignty of both countries and working on extending an Arab optical fiber communications network.

He added that the commission works to provide an attractive investment environment for businessmen and foreign investors through the implementation of the amended Investment Law No. 13 of 2006, which guarantees investors' rights. The law also offers necessary advantages and facilities to ensure the success of investment projects.

For his part, the Lebanese minister expressed his government's readiness for joint work to develop the sector in vital areas.  link

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CandyKisses:  Iraq is preparing to establish a project that changes the oil map. Does it affect energy producers?

Economy News - Baghdad

Iraq's budget for the current year 2024 allocated an amount of $4.9 billion to establish a pipeline that extends from Basra in the far south of Iraq on the waters of the Gulf, to a city of Hadithi, located in the far west of Iraq within the Anbar border province with Jordan and Syria, which means the return of life to the Iraq-Jordan project, which has been witnessing political opposition inside Baghdad for years, and the export of Iraqi oil through Jordan to the world through the Mediterranean, considering that the project was mainly related to the construction of the oil pipeline through two stages, the first to Haditha, which is the longest, and the second to enter the neighboring Jordanian territory.

The project has for years witnessed controversy over economic feasibility, along with opposition from political and armed forces and parties allied to Tehran, describing the project as allowing Iraqi oil to reach the Israeli occupation, but the proposals provided by oil economists and experts confirm that opening a third export outlet for Iraq other than the waters of the Arabian Gulf and Turkey will give Iraq an advantage over Iran and Saudi Arabia in terms of export diversity, especially in times of military and political tensions in the Middle East.

Iraqi Oil Ministry adviser Ahmed Al-Omar said that the arrival of the pipe to Hadith, western Iraq, means the possibility that Iraq will transport its oil not only through Jordanian territory and then Aqaba, but also through the Syrian port of Baniyas. Al-Omar added that “the project will change the map of the oil industry and its production in the region and give Iraq a great advantage over other oil neighbors.” By approving the amount allocated for the start of the project, according to age, the government will start working on the implementation phase, stressing that Iraqi companies will work on it, and the pipe will be implemented through the Iraqi Ministry of Industry as well.

a strategic project

The Director General of the Oil Projects Company, Ali Ward Hammoud, said, “The Oil Pipeline Project in Hara is considered one of the most important strategic projects of the oil movement in Iraq, and it enhances the economy by enabling the country to export oil through new outlets.”

He added that "oil produced from the southern fields is exported through our ports and loading points overlooking the Gulf, which is the only outlet for most Iraqi oil currently, and with the presence of geopolitical challenges in the region, the Ministry of Oil has taken it upon itself to diversify the export outlets, as it has prepared during the past decade a study of the northern export system with the help of the most important international consulting companies and develop appropriate plans to develop new export outlets to serve the expansion of oil production in the country through licensing rounds offered by the Ministry.”

He continued that "a modern Basra pipe falls within this trend, and the size of the tube is 56 knots, and a card that provides the export of two million and 250 thousand barrels per day, and it will be manufactured by Iraqi hands, and the bulk of it will be made by the Iron and Steel Company of the Ministry of Industry. It provides new export outlets for Iraqi oil to the countries of Europe and North America, in line with the development road project and the government's endeavor to make it a corridor for global energy, in addition to its role in transporting goods between East and West."

He stressed that “there is an intention to connect the pipeline in the future to the port of Tartus on the Mediterranean, after the achievement of the appropriate security conditions in Syria, through a pipeline that is established for this purpose and connects a modern warehouse to the port of Tartus,” according to him.

Iraq towards new markets

According to Iraqi political sources, the beginning of the project was in 1983, when the Iraqi and Jordanian sides agreed to extend a pipeline from Basra to the port of Aqaba on the Red Sea, passing through Jordanian territory. At the time, the two sides demanded guarantees by the United States so that Israel should not target the pipe.

The sources state that the Sudanese government of Mohamed Shiaa is seeking to start the project as soon as possible, because the pipe represents a new type of Iraqi energy export outlet, specifically oil, and it also offers the opportunity for Iraqi oil to reach new markets in Europe, as well as economic gains and sustainable and diversified financial returns, in addition to participation and investment in international manufacturing sectors.

Although the financial budget of Iraq for this year included the new pipeline project with an estimated amount of 6.5 billion Iraqi dinars ($4.9 billion), the deputies of Basra Governorate confirmed that they would obstruct the project.

A member of the Iraqi Council of Representatives, Hadi Al-Salami, said that “the strange thing in this project is that he was rejected by most Iraqi parties during the period of Mustafa Al-Kadhimi's (previous) government, but the parties themselves currently agree with it, and we do not know what the reasons, especially that the information is scarce about it, and we do not know the reasons for the government's secrecrecy on it.”

Al-Salami explains that “politicians and deputies in Iraq do not have enough information about the pipe project, and we are demanding to know the economic feasibility of the project from the point of view of the government.”

The consultant in the international transport economy Ziad Al-Hashemi pointed out that "the Basra-Aqaba pipeline project is a strategic project to raise the level of cooperation between Iraq, Jordan and Egypt, and enhance the level of inter-regional relations, whether political, security and economic, and that the passage of the oil pipeline through a regional state such as Jordan, will not exploit this pipe to pressure Iraq in the future, and this ensures the smooth flows of Iraqi oil flows without hinderance."

Al-Hashemi continues by saying that “the project raises fears of exploiting the line in the Israeli entity’s repliement of Iraqi oil in response to assumed Western requirements or pressures.”

Al-Hashemi added that "one of the problems that may face the project is the rejection by some regional pivotal countries to hinder Iraq's attempts to diversify Iraqi oil export ports to the West, in addition to security pressures and problems in stability, which are still an obstacle to the completion and success of any Iraqi project, not to mention the possibility of opening new outlets for corruption inside and outside Iraq because of the high cost of construction."

In turn, oil expert Kovnd Shirwani considered that “the modern Basra oil pipeline project falls within the framework of the first phase of a project that extends to the port of Aqaba in the Mediterranean, which will provide a new export outlet for Iraq.”

He continued that “we also believe that it is necessary to revive the Kirkuk-Ceyhan line, which was transporting up to 400,000 barrels per day, in addition to an investment possibility in the transport of Nineveh and Salahuddin oil and a card that could reach up to one million barrels per day, which provides important export outlets to Iraq.”

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Mot: Eating in the 50s

Mot: .... The Excitement of 22 MPH

Iraq Economic News and Points To Ponder Late Sunday Evening 6-16-24

Iraq Economic News and Points To Ponder Late Sunday Evening 6-16-24

Al-Sudani confirms the progress of the fight against corruption “in every corner where it hides”

Time: 06/16/2024 Read: 1,807 times  {Politics: Al-Furat News} Prime Minister Muhammad Shiaa Al-Sudani stressed the progress of the fight against corruption “in every corner where it hides.”

Al-Sudani said in a statement, a copy of which {Al-Furat News} received on the occasion of the blessed Eid al-Adha, “I extend my best congratulations and blessings to our honorable Iraqi people on the occasion of the blessed Eid al-Adha, coupled with my sincere prayers to the Creator, the Almighty, to repeat this occasion for our people in all parts of Mesopotamia.”

And the peoples of the Arab and Islamic worlds, with more abundance of goodness and the blessing of security and stability, and to bestow His victory and mercy upon our patient people in Gaza, and to repel aggression from them.”

He added, "I turn to the Almighty to accept the good deeds of those who performed Hajj to His Sacred House, and to return our Iraqi pilgrims safely, winning God’s forgiveness and satisfaction, and enjoying His abundant mercy. He is the best Lord and Helper."

On this occasion, Al-Sudani renewed “the bond of responsibility and covenant, with our people of all categories and sects, to continue work and diligence, and to exert efforts and energies, to achieve all the components of our government program, which is a realistic extrapolation of the demands and ambitions of our people, and an actual and field response to confront all the challenges and difficulties that stand in their way.”

He continued, "Just as we affirm the continuation of our responsibilities towards the sovereignty of Iraq, extending the hand of the law, liberating and developing the economy, bringing about progress and development, creating creative opportunities, and combating all social ills and corruption in every corner where it hides, Eid Mubarak and acceptable work, and may the Iraqis’ days last in joy and happiness.

“Iraq will remain proud and strong under the shadow of its honorable sons and family.”   LINK

Iraq Affirms Its Commitment To Supporting International Security And Stability In The Region

Political | 06/16/2024   Baghdad - Mawazine News  Foreign Minister Fuad Hussein affirmed, on Sunday, Iraq’s commitment to its effective role in supporting international security and stability in the region.

A statement from the Ministry of Foreign Affairs, received by Mawazine News Agency, stated that “Deputy Prime Minister and Minister of Foreign Affairs Fouad Hussein met with Prince Faisal bin Farhan Al Saud, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, on the sidelines of the peace summit in Ukraine, which was held at the Brukenstock Resort in the Swiss city of Lucerne.” .

The statement added, "During the meeting, the two sides held in-depth talks on ways to enhance efforts to bring peace to Ukraine and end the war, and stressed the importance of enhancing constructive dialogue between the conflicting parties through international mediation and diplomacy, and relying on peace initiatives supported by the United Nations."

The statement indicated, "The discussions between the minister and Prince Faisal bin Farhan dealt with bilateral relations between Iraq and the Kingdom of Saudi Arabia, with a focus on ways to enhance and expand bilateral cooperation."

Hussein stressed, according to the statement, that "Iraq is striving to strengthen its efforts in cooperation with our brothers and the international community to achieve security and stability in the region, which reflects Iraq's commitment to its effective role in supporting international peace and security."   https://www.mawazin.net/Details.aspx?jimare=249833

Iraq Is Preparing To Establish A Project That Will Change The Oil Map.. Will It Affect Energy Producers?

Energy   Economy News – Baghdad  Iraq's budget for the current year 2024 allocated an amount of up to 4.9 billion dollars to establish a pipeline extending from Basra in the far south of Iraq on the waters of the Gulf, to the city of Haditha, located in the far west of Iraq within the Anbar Governorate bordering Jordan and Syria, which means the return of life to the Iraq project - Jordan, which has been witnessing political opposition inside Baghdad for years, stipulates that Iraqi oil be exported through Jordan to the world via the Mediterranean, given that the project was essentially linked to extending the oil pipeline through two stages, the first to Haditha, which is the longest, and the second to enter neighboring Jordanian territory.

For years, the project has witnessed controversy over its economic feasibility, in addition to the opposition of political and armed forces and parties allied with Tehran, describing the project as allowing Iraqi oil to reach the Israeli occupation. However, the proposals presented by economists and oil experts confirm that opening a third export port to Iraq will change the waters of the Arabian Gulf and Turkey. It will give Iraq an advantage over Iran and Saudi Arabia in terms of export diversification, especially in times of military and political tensions in the Middle East.

Advisor to the Iraqi Ministry of Oil, Ahmed Al-Omar, said that the arrival of the pipeline to Haditha, western Iraq, means that Iraq can transport its oil not only through Jordanian territory and then Aqaba, but also through the Syrian port of Baniyas. Al-Omar added, “The project will change the map of the oil industry and production in the region and give Iraq a great advantage over other oil neighbors.”

By approving the amount allocated to start the project, according to the age, the government will begin work on the implementation phase, stressing that Iraqi companies will undertake work on it, and the pipeline will be implemented through the Iraqi Ministry of Industry as well.

Strategic Project

Director General of the Petroleum Projects Company, Ali Ward Hammoud, said, “The Basra-Haditha oil pipeline project is considered one of the most important strategic projects for the movement of oil in Iraq, and it strengthens the economy by enabling the country to export oil through new ports.”

He added, “The oil produced from the southern fields is exported through our ports and loading points overlooking the Gulf, which is the only outlet for most of Iraqi oil currently, and with the presence of geopolitical challenges in the region, the Ministry of Oil has taken it upon itself to diversify export outlets, as over the past decade it prepared a study.”

“For the northern export system, with the help of the most important international consulting companies, and developing appropriate plans to develop new export outlets to serve the expansion of oil production in the country through the licensing rounds proposed by the ministry.”

He continued, "The Basra-Haditha pipeline falls within this trend. The size of the pipeline is 56 knots, and has a capacity to secure the export of two million and 250 thousand barrels per day. It will be manufactured by Iraqi hands, and the bulk of it will be manufactured by the Iron and Steel Company affiliated with the Ministry of Industry, and it provides new export outlets."

 Iraqi oil is transported to European and North American countries, in line with the development road project and the government’s endeavor to make it a global energy corridor, in addition to its role in transporting goods between the East and the West.”

He confirmed that “there is an intention to connect the pipeline in the future to the port of Tartous on the Mediterranean Sea, after achieving appropriate security conditions in Syria, through a pipeline established for this purpose and linking the Haditha warehouse to the port of Tartous,” he said.

Iraq Towards New Markets

According to Iraqi political sources, the beginning of the project was in 1983, when the Iraqi and Jordanian sides agreed to extend a pipeline from Basra to the port of Aqaba on the Red Sea, passing through Jordanian territory. At the time, both sides demanded guarantees from the United States so that Israel would not target the pipeline.

The sources state that the government of Muhammad Shiaa al-Sudani seeks to start the project as soon as possible, because the pipeline represents a new type of outlet for Iraqi energy exports, specifically oil, and it also provides the opportunity for Iraqi oil to reach new markets in Europe, as well as sustainable and diversified economic gains and financial returns. In addition to participating and investing in international manufacturing sectors.

Although Iraq's financial budget for the current year included the new pipeline project at an amount estimated at approximately 6.5 billion Iraqi dinars ($4.9 billion), representatives from Basra Governorate confirmed that they would obstruct the project.

Member of the Iraqi Parliament, Hadi Al-Salami, stated, “What is strange about this project is that it was rejected by most of the Iraqi parties during the period of Mustafa Al-Kadhimi’s (previous) government, but the parties themselves currently agree to it, and we do not know what the reasons are, especially since information is scarce about it, and we do not know “The reasons for the government’s secrecy about it.”

Al-Salami explains, “Politicians and representatives in Iraq do not have sufficient information about the pipeline project, and we demand to know the economic feasibility of the project from the government’s point of view.”

The consultant in international transport economics, Ziad Al-Hashemi, pointed out that “the Basra-Aqaba pipeline project is a strategic project to raise the level of cooperation between Iraq, Jordan and Egypt, and to enhance the level of inter-relations, whether political, security or economic, and that the passage of the oil pipeline through a regional country like Jordan will not be exploited.” This pipeline is intended to put pressure on Iraq in the future, and this will ensure the smooth flow of Iraqi oil flows without obstacles.”

Al-Hashemi continues by saying, “The project raises fears that the pipeline will be exploited to supply the Israeli entity with Iraqi oil in response to supposed Western requirements or pressures.”

Al-Hashimi added, “One of the problems that the project may face is the refusal by some pivotal regional countries to hinder Iraq’s attempts to diversify Iraqi oil export outlets towards the West, in addition to the security pressures and stability problems that still constitute an obstacle to the completion and success of any Iraqi project, let alone About the possibilities of opening new outlets for corruption inside and outside Iraq due to the high construction costs.

In turn, oil expert Kovind Sherwani considered that “the Basra-Haditha oil pipeline project falls within the framework of the first phase of a project extending to the port of Aqaba in the Mediterranean, which will provide a new export outlet for Iraq.”

He continued, "We also believe that it is necessary to revive the Kirkuk-Ceyhan line, which used to transport up to 400,000 barrels per day, in addition to the investment possibility in transporting Nineveh and Salah al-Din oil, with a capacity that could reach one million barrels per day, which provides export outlets." A mission for Iraq.”   178 views 06/16/2024 https://economy-news.net/content.php?id=44347

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity: 

Without the burden of afflictions it is impossible to reach the height of grace. The gift of grace increases as the struggles increase.  - Saint Rose of Lima

When the going gets tough, the tough get going.  - Frank Leahy

The effects of opposition are wonderful. There are men who rise refreshed on hearing of a threat, men to whom a crises, which intimidates and paralyzes the majority, comes as graceful and beloved as a bride! - Ralph Waldo Emerson

Remember that the Devil doesn't sleep, but seeks our ruin in a thousand different ways - Angela Merici

Down you mongrel, Death! Back into your kennel!  - Edna Saint Vincent Millay

He that wrestles with us strengthens our nerves and sharpens our skills. Our antagonist is our helper. - Edmund Burke

The block of granite which was an obstacle in the path of the weak becomes a steppingstone in the path of the strong.  - Thomas Carlyle

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Sunday Afternoon 6-16-24

Goldilocks' Comments and Global Economic News Sunday Afternoon 6-16-24

Good Evening Dinar Recaps,

EU Basel 3 Announcement:

The Fundamental Review of the Trading Book (FRTB) is a comprehensive suite of capital rules. They are developed by the Basel Committee on Banking Supervision (BCBS) as part of Basel III. Their intentions are to apply these rules to banks' wholesale trading activities.

The EU plans to delay FRTB because moving first would put EU banks at a competitive disadvantage to US banks.

This is a coordinated effort globally. Where one goes, we all go. Europe has given themselves a back wall date of January 1st, 2025 to to fully implement Basel 3 requirements. It looks like they have moved into a place that other countries are going to have to catch up to going forward.

Look for gold to be reclassified during this time and the digital economy to go ahead and move into its mass adoption. ICMA Group

© Goldilocks 

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"Lagarde Urges Governments to Respect Global Trade Rules"

Remember what we said the other day about Trade Wars beginning, and how, Treaty Agreements are signed at the end of them.

Trade Wars are attempts by countries to damage each other's trade, typically by the imposition of tariffs or quota restrictions.

This will cause distortions in prices that will have to be reset under new Treaty Agreements that are universally signed.

Look for this to come at a time when Basel 3 Capital Requirements can be implemented into a new financial order.    Bloomberg

Here we go.

© Goldilocks

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Here is the list of countries that will join BRICS:

* Africa:
* Algeria;
* Morocco;
* Nigeria;
* Chad;
* Equatorial Guinea;
* Eritrea;
* Senegal;
* Zimbabwe;
* South Sudan.
* Asia:
* Azerbaijan;
* Bangladesh;
* Bahrain;
* Indonesia;
* Kazakhstan;
* Kuwait;
* Palestine;
* Pakistan;
* Syria;
* Thailand;
* Vietnam;
* Sri Lanka;
* Türkiye.
* Latin America:
*  Bolivia;
* Venezuela;
*  Honduras.

BRICS Summit October 2024
Gazeta

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Figure Technology Solutions has launched Figure Connect, its blockchain-based marketplace for private credit. Outside of the qualified mortgage sector, most loan purchase agreements (LPAs) are bespoke, making them illiquid. Figure’s is promoting the use of standardized sales terms and documentation to make the market more liquid.   Ledger Insights   Figure Technology Solutions

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Bitcoin Suisse, one of the largest digital asset players in the country, has issued a digital bond via the Obligate platform. When asked for more details about the bond, Bitcoin Suisse told Ledger Insights that it is a technical prototype with a 12 month maturity, available only to qualified investors.
Ledger Insights    Bitcoin Suisse

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Marui, the large Japanese department store, issued a digital green bond in May. Not only did it use blockchain, but it was also directly issued to its customers as investors, with Securitize Japan providing the blockchain platform. Besides the digital bond, the green investment also has a blockchain angle.

It was a small digital bond issuance of just Yen 170 million ($1.1 million) with the investment available to Marui’s EPOS credit card holders. The 1% interest on the bond is partially paid in EPOS points and partly in real money.

The bond proceeds are intended to purchase a renewable energy power plant, although the small print also allows for energy-efficient building upgrades. Marui is partnering with Updater (formerly Minna Denryoku or Minden) for the renewable energy plant.

Updater has a blockchain-based platform, Enection 2.0, which tracks the source of renewable energy, allowing business buyers to pair electricity sales with energy attribute certificates (EACs) for green energy.  Ledger Insights   Marui   Enection 2.0   Digital Bond

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BIS launches Toronto Innovation Hub - Ledger Insights - blockchain for enterprise

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Testimony of Chairman Rostin Behnam Before the Subcommittee on Financial Services and General Government, Committee on Appropriations, U.S. Senate | CFTC

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PCPD Corporate Video | Youtube

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FADGI is part of a broader effort by NARA to move away from paper-based processes towards digitization.

Federal Agencies Digital Guideline Initiative (FADGI) guidelines are mandatory for federal agencies and affiliated organizations when digitizing archival records. 

The guidelines went into effect in June 2024 as part of the National Archives and Records Administration's (NARA) effort to move away from paper-based processes. By June 2024, all permanent records archived in the National Archives must be digitized and meet FADGI three-star quality standards.    Digitization Guidelines    Government Technology Insider

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Seeds of Wisdom Team Presents

The Goldilocks Daily Breakdown Podcast:

Are you too tired or too busy to read the daily Goldilocks articles that keep you up to date on the GCR?

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Tune in each day at your convenience and listen to Mr. Anonymous break down the articles the Goldilocks Team brings to this community.

Mr. Anonymous will read each article for you and explain them in layman’s terms.

Listen on the go, in the car on your way to work, while walking the dog, or exercising at the gym. Listen anywhere, anytime, but listen and stay informed.

The New Goldilocks Daily’s - you’re sure to love it!

Goldilocks' Daily Breakdown Podcast Link

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Goldilocks' Q & A Classroom Link 

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What Iraq Must Do Before RV Can Happen | Youtube

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XRP RIPPLE UPDATE: CAN XRP ESCAPE THIS? | SEC VS RIPPLE | XRP Lawsuit Heats Up with Judge | Youtube

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BIS Survey: 94% of Central Banks Exploring Digital Currency – Featured Bitcoin News

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Some “BRICS News” Sunday 6-16-2024

BRICS SUMMIT 2024: What is on Agenda?

Fastpo:  6-15-2024

The BRICS Summit 2024, set to take place in Kazan, Russia, in October, will address several critical issues and priorities under the theme "Strengthening Multilateralism for Just Global Development and Security." 28 Countries Joining BRICS With Names and Capacities:

The summit's agenda includes the expansion of BRICS membership, with the addition of Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, aiming to bolster the group's global influence. Economic and financial cooperation will be a focal point, with discussions on using national currencies in trade to reduce dependency on the US dollar, and the implementation of the Strategy for BRICS Economic Partnership 2025.

Political and security coordination will be enhanced to address international and regional threats collectively. Cultural and humanitarian collaboration will also be emphasized, promoting cooperation in science, technology, healthcare, and environmental protection. The summit will advocate for a multipolar international order and fair global financial systems, reinforcing the principles of international law.

 Over 200 related events will be organized throughout the year, showcasing the comprehensive efforts of the BRICS nations to strengthen global development and security.

 In this video, we will explore the main agenda of the upcoming BRICS Summit 2024, shedding light on the key priorities and collaborative plans of the BRICS bloc in preparation for the event.

What Next? https://youtu.be/FVIed9MicE4

https://www.youtube.com/watch?v=Js7WInATiAc

BRICS+ Massive Expansion Signals Western Policies Failed, Iran in BRICS |Prof. Mohammad Marandi

Lena Petrova:  6-16-2024

Professor Seyed Mohammad Marandi is an academic at the University of Tehran and a political analyst. Professor Marandi and I are discussing the recent news with respect to the BRICS bloc, economic development aspirations for the global majority and what Iran’s full membership in the BRICS+ means for its economy.

https://www.youtube.com/watch?v=p7Vh51DbvFY

“Tidbits From TNT” Sunday 6-16-2024

TNT:

Tishwash:  this was in Iraq's news

Venezuelan Minister: We are close to producing one million barrels of oil per day

Venezuelan Oil Minister, Pedro Telechia, announced that his country is close to producing one million barrels of oil per day for the first time in more than five years.

“We can officially say that we have exceeded 950,000 barrels per day this month,” Telechia said during an official event in the capital, Caracas, adding, “We are very close to producing one million barrels.”

Oil production peaked in 2008 with 3.5 million barrels per day, but declined years later due to strict US sanctions.
Last month, Washington re-imposed sanctions on Caracas six months after easing them, in response to "the government's continued repression of opponents before the July elections."

However, Spanish energy giant Repsol has received permission from the United States to continue operating in Venezuela.
The Venezuelan Oil Minister said last month that he was optimistic that Venezuelan oil production would reach one million barrels per day soon, for reasons including the agreement with Repsol.

Telechia is also the president of the Venezuelan oil giant Petroleos de Venezuela (Pedivesa).
Venezuela's production reached 910,000 barrels per day by the end of May, according to the Organization of the Petroleum Exporting Countries (OPEC).
The country's production fell to less than one million barrels per day in 2019 when the United States imposed sanctions following the re-election of President Nicolas Maduro a year ago.

By 2020, the number was less than 400 thousand barrels.n  link

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CandyKisses: Sudanese on Eid: We are committed to the sovereignty of Iraq and the extension of the hand of law

On Sunday, Iraqi Prime Minister Mohammed Shia al-Sudani congratulated Iraqis on the occasion of Eid al-Adha.

Al-Sudani expressed, in a statement received by Shafaq News Agency, his calls for more goodness, security and stability for the Iraqi people and the peoples of the Arab and Islamic worlds, and also called for mercy and victory for the people of Gaza, stressing the need to respond to aggression from them.

Al-Sudani stressed the renewal of the covenant with the Iraqi people of all categories and sects to continue to work hard and diligence to achieve all the provisions of the government program, which aims to meet the demands and aspirations of the Iraqi people and face the challenges and difficulties that stand in their way.

Al-Sudani added that the government continues to shoulder its responsibilities towards Iraq's sovereignty, extending the hand of law, liberalizing and developing the economy, achieving progress and development, creating creative opportunities, and combating social ills and corruption throughout the country.

The Acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, also offered his congratulations, on the occasion of Eid al-Adha, and called in a statement, received by Shafaq News Agency, for concerted efforts to enhance security and stability and support the construction and reconstruction movement.

The Acting Speaker of the House of Representatives renewed his call on the international community to stop the Zionist aggression against Palestine and the countries of the region, stressing the need for serious and immediate action in order to break the siege on the Gaza Strip to bring in urgent humanitarian aid.

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CandyKisses:  Iraq's oil exports to America rise significantly in a week

The US Energy Information Administration announced on Sunday that Iraq's oil exports to America rose during the past week.

The administration said in a table seen by Shafaq News Agency, "The average US imports of crude oil during the past week from 9 major countries amounted to 6.120 million barrels per day, up by 363 thousand barrels per day from the previous week, which amounted to 5.757 million barrels per day."

She added that "Iraq's oil exports to America amounted to 228,000 barrels per day last week, up by 102,000 barrels per day from the previous week, which amounted to 126,000 barrels per day."

The administration pointed out that "the most oil revenues of America during the past week came from Canada at a rate of 3.974 million barrels per day, followed by Mexico with an average of 987 thousand barrels per day, followed by Saudi Arabia with an average of 278 thousand barrels per day, and from Nigeria at a rate of 208 thousand barrels per day."

According to the table, "the amount of US imports of crude oil from Ecuador was at a rate of 149,000 barrels per day, from Brazil at a rate of 134,000 barrels per day, from Libya at a rate of 87,000 barrels per day, and from Colombia at a rate of 75,000 barrels per day."

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Mot: ... Have a Very Happy ~~~~~~

Mot: .. the ole chip off of ~~~

Iraq News Highlights and Points To Ponder Late Saturday Evening 6-14-24

Iraq News Highlights and Points To Ponder Late Saturday Evening  6-14-24

Iraqis resort to “gold bullion” instead of money, and the banking system is dying

Economy |Today,  Baghdad today - Baghdad    Today, Wednesday (June 12, 2024), financial affairs expert Mustafa Hantoush revealed the reason why Iraqis are resorting to purchasing gold bullion in abundance during the current period.

Hantoush said in an interview with "Baghdad Today" that "recently, the demand for buying gold bullion has increased significantly by citizens, especially those with large sums of money. They have begun to save that money through these bullion instead of depositing their money in banks."

He stated that "the reason why citizens resort to buying gold bullion to save their money is as a result of the weakness of the banking system, lack of confidence in this system, and fear for their money due to American sanctions. This is why we see the majority of Iraqis turning towards gold bullion, especially in light of the high prices of the yellow metal and the stability of this price and its lack of fluctuation like the dollar."

From mid-December 2022 until now, the Iraqi dinar has continued to fall against the US dollar, until it reached the level of 1,610 dinars against one dollar at a time when the official price of the dollar is 1,300 dinars.

With the decline of the national currency and the rise in poverty and unemployment rates, Iraqi gold markets recorded a large demand from customers to buy the yellow metal amid warnings against buying counterfeit ones.

According to data from the specialized website “Bloomberg” , Iraq bought 33.9 tons of gold in the year 2022, while the Turkish Consul General in Erbil Hakan Karaçay revealed that Iraq imported Turkish gold worth $1.5 billion during the year 2021.

Iraq's gold reserves witnessed a noticeable increase during the month of February 2024, as International Monetary Fund data showed that Iraq had increased its possession of the precious metal by 3,079 tons, bringing the total to 145,661 tons.

This increase indicates Iraq's continued strategy to diversify its foreign reserves and enhance financial and monetary stability in the long term.

This step by Iraq comes at a time when the world is witnessing a rise in gold prices, as the price reached its highest level in its history last month above $2,400 per ounce.

Many simultaneous factors are strengthening the record levels of gold, especially in light of the escalation of geopolitical tensions around the world, and in light of the state of “uncertainty” surrounding the global economy, which supports the trend towards the precious metal as a traditional safe haven in the face of market fluctuations and dire scenarios that impose themselves on the market. the scene.

Iraq is among the countries that possess large amounts of gold reserves in the Arab region, as it ranks fourth after the Kingdom of Saudi Arabia, Algeria, and Morocco.   LINK

Golden Days For Sellers...The Recession Hits The “Eid Sacrifices” Market In Diyala And The Prices Are “Crazy”

Baghdad today – Diyala   With the approaching Eid al-Adha, the market for selling sacrificial animals in the largest site for selling livestock and sheep in the country near the city of Baqubah is witnessing a state that resembles a depression, with a very limited demand for buying them due to the economic situation and the exaggerated rise in prices.

Ayser Khaled, a sheep and livestock trader, said in an interview with “Baghdad Today” that “prices are high according to the principle of supply and demand, and imports did not contribute to lowering prices. On the contrary, they rose by up to 10% in recent weeks,” pointing out that Eid al-Adha represents the golden days for us. To sell our sacrifices, but according to our vision of the situation, we are in a state similar to a depression.”

He acknowledged, "Prices are the reason and the matter is not in our hands. We are dealing with the market situation and we hope that there will be a decline, but according to what we see, the matter is very difficult."

As for Jihad Abu Mustafa, a livestock and sheep trader, he pointed out that there are limited segments of people who buy sacrifices on Eid, not including the poor and those with limited income, pointing out that the prices of sheep range from 400-700 thousand dinars and reach one million dinars, which in the eyes of simple people is a large sum. .

He added in an interview with “Baghdad Today” that “importing has not changed the equation and prices are still high,” noting that “the demand for purchases does not exceed 30% so far.”

As for Ibrahim Ali Al-Qaisi, a retired government employee, he bought a sacrifice for 600,000 dinars and said, “The prices are exaggerated and retirees have to wait for months in order to collect the sacrifice amount.”

He continued in an interview with "Baghdad Today", "We hope that the difficult economic conditions will change and that the government will address the issue of exaggerated meat prices in general because acute poverty has begun to creep into the regions."

With the advent of Eid, Muslims buy sacrificial animals to slaughter them after the end of the Arafat pause, and then distribute their meat to relatives, neighbors, the poor and the destitute.

The health authorities in Iraq warn all citizens against buying meat sold by street vendors due to hemorrhagic fever.

The indiscriminate slaughter of livestock represents the biggest challenge facing the Ministry of Health, at a time when the number of hemorrhagic fever infections is witnessing a significant increase, with a death rate of up to 40 percent.

On days like these, merchants are accustomed to having their livestock more in demand than at other times of the year, but the exorbitant high prices prompted many people to buy sacrificial animals weeks before this occasion.   LINK

The House Of Representatives Sends The Decision To Approve The Budget Schedules To The Presidency Of The Republic

Friday 14, June 2024 02:58 | Political Number of readings: 356   Baghdad / NINA / The General Secretariat of the House of Representatives announced that the decision to approve the 2024 general budget schedules had been sent to the Presidency of the Republic for approval./End 5   https://ninanews.com/Website/News/Details?Key=1132505

Economy   Parliamentary Integrity: Extending the Basra Pipeline - An Obstacle To Wasting Iraqi Money

Information / Baghdad..   Member of the Parliamentary Integrity Committee, Hadi Al-Salami, said today, Saturday, that laying the Basra-Oqaba pipeline is a waste of Iraqi funds.

Al-Salami told Al-Maalouma Agency, “There are many comments about spending billions on extending the Basra-Aqaba pipeline, as the government’s insistence on extending the pipeline raises suspicions of corruption related to wasting public money.”

He added, "Jordan's position on Iraq is hostile, and it is not possible to sign a memorandum of understanding or agreement with this country."

He explained that "the extension of the oil pipeline from Basra to Aqaba has major suspicions of corruption, calling on Parliament and the regulatory authorities to stop opposing the completion of the pipeline project." Ended / 25h  LINK

Provoking Thoughts and Points To Ponder On Adversity:

Pain makes man think. Thought makes man wise. Wisdom makes life endurable.  - John Patrick

Time engraves our faces with all the tears we have not shed.  - Natalie Clifford Barney

Suffering raises up those souls that are truly great; it is only small souls that are made mean-spirited by it.  - Alexandra David-Neel

To live is to suffer, to survive is to find some meaning in the suffering.  - Roberta Flack

If you suffer, thank God! It is a sure sign that you are alive.  - Elbert Hubbard

Suffering is also one of the ways of knowing you're alive.  - Jessamyn West

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-14-24

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-14-24

Good Evening Dinar Recaps,

Project Meridian FX: Joint project by the Eurosystem and London Centres, and the Bank of England, to test synchronised settlement in FX | BIS  |  Project Meridian

Project Meridian Announcement:

"The Eurosystem and London Centres of the BIS Innovation Hub, together with the Bank of England, have launched Project Meridian FX, to build on the findings of Project Meridian by focusing on foreign exchange (FX) transactions."

Meridian FX has completed testing of the usability regarding standing orders for various types of assets and technologies ie foreign currency exchange.

It is expected to take the lead on innovations regarding real-time gross settlement (RTGS) systems operated by central banks.

By focusing on FX transactions,  Project Meridian is expected to settle FX trade issues, such as costs, risks, and time involved in cross-border transactions.   BIS  |  Project Meridian

© Goldilocks

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Project Meridian | Youtube

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Why It’s Time for Corporates to Jump on the ISO 20022 Bandwagon | Pymnts | Investopedia

“Now with the CHIPS ISO 20022 migration completed, the entire industry is clearly one step closer to realizing the benefits together,” Lee told PYMNTS recently."

She goes on to emphasize that the potential for ISO 20022 cannot be complete without involvement with banks, corporates, and financial institutions.

Clearing House Interbank Payments System (CHIPS) is well on its way in interfacing ISO on the QFS several financial institutions that are still in process of completing this launch.

"CHIPS is a private-sector, bank-owned system for electronic payments in US dollars. CHIPS is the largest US dollar-based money transfer system in the US and is used for large interbank transactions."

CHIPS is the preferred method of payment for large transfers. Over 95% of USD cross-border payments utilize this service for its completion.

© Goldilocks

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What is Clearing House Inter bank Payment System (CHIPS)? Urdu / Hindi | Youtube

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SEC asking Ripple for 100M settlement 

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Project Seraphim

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GOLD SILVER RATIO BREAKOUT 21st Century | Youtube

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“Tidbits From TNT” Saturday 6-15-2024

TNT:

CandyKisses:  Rafidain Bank begins deploying ATMs in its main branches

15 JUNE  2024  15:07    Baghdad - Iraq Today:

Rafidain Bank announced the start of the deployment of ATMs in its main branches.

His media office said in a statement that "the bank has started deploying ATMs in its main branches, and then institutions, commercial areas and malls, respectively," noting that "this is in implementation of its strategic objectives in enhancing the spread of the bank's services in accordance with the strategy of Al-Rafidain to enhance financial inclusion and provide the best services to its customers."

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Tishwash:  Al-Sudani: The Iraqi government is following a new approach aimed at activating the private sector

Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Saturday, that his government is following a new approach in its program aimed at activating the private sector in Iraq and achieving equality between it and the public sector in rights and social security. 

This came during his meeting today with a number of young graduates from Dhi Qar Governorate, as part of his sovereignty’s communication with the youth, following up on their demands and listening to their vision, according to a statement issued by the Iraqi government.

At the beginning of the meeting, Al-Sudani touched on the fact that Dhi Qar possesses the elements of economic advancement, human resources and investment opportunities that go beyond its borders, stressing that the government guarantees the right to peaceful demonstration and the protection of demonstrators on the path of communicating demands and publicizing rights, in a way that does not negatively affect the work of projects and civil services. 

He pointed out that the government is following a new approach in its program aimed at activating the private sector, to create more basic job opportunities in the continuation of economic development and advancement and efforts to attract investments, as well as working towards achieving equality with the public sector in rights, social security, distribution of residential lands, and others.

The Iraqi Prime Minister asked the young graduates to present their vision and demands, and propose solutions, especially with regard to comments regarding youth employment offices. In order to contribute to supporting the stability of the governorate and creating sustainable and productive development, attracting employment requests and cooperating in meeting them between public and private sector institutions and investment projects.

Al-Sudani directed the provision of a special program from the “Riyada” initiative to care and support youth, allocated to Dhi Qar Governorate, in proportion to the population ratios. In order to grant loans to emerging, small and medium enterprises, as well as directing government banks to grant operational loans, and giving priority to young people, graduates, qualified people, and certificate holders.  link

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CandyKisses: Parliament hints at a "revolution" in the completion of laws in the new legislative term - urgent

Baghdad Today - Baghdad

Today, Saturday (June 15, 2024), MP for the Fatah Alliance, Salem Al-Anbaki, confirmed that the new legislative term of the House of Representatives will witness a revolution to legislate laws.

Al-Anbaki told Baghdad Today that "there is a parliamentary consensus to focus the new legislative chapter to legislate important laws and stalled for political, technical or legal reasons, and we will witness a revolution to legislate a large number of laws."

He pointed out that "the Presidency of the House of Representatives directed all parliamentary committees to inventory their laws so that they are included on the schedules of the next legislative sessions and with the aim of voting on them, especially since there are approximately (140) Laws that need a vote in the House of Representatives, some of which have been suspended since previous parliamentary sessions."

Political forces are working to block important laws due to the great controversy. These laws represent as a result of being fateful reports, especially the "Oil and Gas" law and the "Federal Court".

The first legislative term of the second legislative year ended on June 10, after the term was extended from May 10.

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CandyKisses:  The start of the escalation of pilgrims to the "Arafat" hair in preparation for the great stop tomorrow

Baghdad Today - Follow-up

With the sunset of the eighth day of Dhu al-Hijjah, the escalation of pilgrims began to Arafat, in preparation for standing tomorrow, Saturday, at its pure level, and the best day when the sun rose, to perform the greatest pillar of Hajj , which is to stand on its level, and whoever missed Arafat missed the Hajj.

While the process of escalation to Arafat's shrine will be through the Mashaer train, which accommodates 72,000 passengers per hour, in addition to 12,000 buses that carry out a frequency system to transport pilgrims through organized routes and a well-thought-out plan.

The Day of the Great Stand

And tomorrow is Saturday The ninth of Dhul-Hijjah "the day of the great stand" performing the noon and afternoon prayers in short and plural, then they begin to leave heading to Muzdalifah to stay overnight, and then move from it to Mina to complete the rituals of Hajj.

The area of Arafat is about 33 square kilometers, in which more than two million pilgrims gather, as the past decades and over the years have proven the ability of the government of the Custodian of the Two Holy Mosques - may God protect him - to accommodate More than these numbers, providing them with all amenities and security, and distinguished service without the pilgrim feeling hardship.

Arafat hairy

The land of Arafat is characterized by its levelness, surrounded by a series of mountains in the north of which there is Mount of Mercy, which consists of a small flat surface and wide area formed of hard stones of a large black color, and its length is 300 meters, and its circumference is 640 meters and the base of the mountain rises from the surrounding ground by 65 meters and there is a 7- meter-high sign on the top of the mountain, and this mountain is called by many names such as Jabal El, Mount Repentance, Mount Dua'a, Al-Nabit, and Jabal Al-Qurain.

Pilgrims look forward to standing on the "Mount of Mercy" in Arafat during their performance of Hajj rituals in honor of the Messenger of Allah Muhammad (may Allah's peace and blessings be upon him), who stood on him and delivered his farewell sermon, and Pilgrims are keen to pray and pray to God Almighty for mercy and forgiveness.

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Mot: ... Great Gift fur Fathers Day it is!!!

Mot: .. Always Check ~~~~~Ceiling fan

Iraq Economic News and Points To Ponder Late Friday Evening 6-14-24

Iraq Economic News and Points To Ponder Late Friday Evening 6-14-24

Al-Rafidain Begins Deploying ATM Machines In Its Main Branches
Economy | 12:31 - 06/14/2024  Today, Friday, Rafidain Bank announced the start of deploying ATM machines in its main branches.

His media office stated in a statement received by Mawazine News, “The bank has begun deploying ATM machines in its main branches and then institutions, commercial areas, and malls, respectively.”

He added, "This is in implementation of its strategic objectives in enhancing the spread of the bank's services in accordance with Al-Rafidain's strategy to enhance financial inclusion and provide the best services to its customers."   https://www.mawazin.net/Details.aspx?jimare=249686

Oil Jumps To $83 Per Barrel
Economy | 07:26 - 06/14/2024  Baghdad - Mawazine News   Brent crude futures prices rose on Friday, and are heading towards recording their best weekly performance in more than four months after expectations of growth in demand for crude oil and fuel this year.

Brent crude futures rose 53 cents to $83.28 a barrel by 1356 GMT. US West Texas Intermediate crude futures also rose 41 cents to $79.03 per barrel.

The two benchmarks gained approximately 4.5 percent during the week, which will push Brent to record its highest weekly rise since the week ending February 9. US West Texas Intermediate crude is also heading towards achieving its largest weekly rise since the week ending April 5. https://www.mawazin.net/Details.aspx?jimare=249709

Basra Crude Prices Exceed The Global Decline

Money  and business  Economy News – Baghdad  Basra heavy and medium crude prices rose today, Thursday, despite the decline in global oil prices.

Basra Heavy crude prices rose 60 cents to reach $80.28, and Basra Medium crude prices rose 60 cents to reach $83.13.

Global oil prices fell as investors digested the news that the US central bank chose not to cut interest rates in the near future.   Views 75   06/13/2024 - https://economy-news.net/content.php?id=44280

Economists Call For Enhancing Non-Oil Revenues
 
Economical Baghdad: the mainstay of the emirate   Economic affairs specialists called for the necessity of working to enhance non-oil revenues and reduce dependence on oil in a manner consistent with economic reforms.
 
The specialist in economic affairs, Dr. Ahmed Al-Rawi, explained to “Al-Sabah” that
 
“oil is affected by variables as it is one of the strategic commodities, regardless of supply and demand, and
 
the factors affecting oil prices can be identified, including political, economic, and factors resulting from conflicts and security disturbances.
 
Because of its international and strategic importance, oil is considered a causal commodity.”
 
For economic activity or even influencing political decisions that may lead to changing the positions of many countries towards rising prices.

 
Regarding public budgets, Al-Rawi believes that
 
“it has become necessary to take practical measures regarding reconsidering public budgets away from rentier expectations and raising all forms of unnecessary public expenditures.”
 
Activating non-oil revenue systems, such as the system of taxes and public fees, and revitalizing economic sectors so that the budget becomes capable of providing job opportunities for the young workforce and diversifying incomes, as well as developing oil production in proportion to spare capacity.
 
The expert called for achieving stability in the growth of the general budget by adopting a rate that is compatible with the annual growth rate of the gross domestic product and not making the development of the budget linked to oil revenues.
 
For her part, the Dean of the Faculty of Business Economics at Al-Nahrain University, Dr. Nagham Hussein, explained in a statement to “Al-Sabah” that
 
“not The stability of oil revenues generates complications in financial policy in the short and long term, and
 
they are linked to a number of fundamental issues, including the relative importance of the oil sector in the national economy.
 
Prices fluctuate, so the focus must first be on the long term and attention
 
to the fair distribution of resources and burdens.”    https://alsabaah.iq/98237-.html   

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

Without the burden of afflictions it is impossible to reach the height of grace. The gift of grace increases as the struggles increase.  - Saint Rose of Lima

When the going gets tough, the tough get going.  - Frank Leahy

The effects of opposition are wonderful. There are men who rise refreshed on hearing of a threat, men to whom a crises, which intimidates and paralyzes the majority, comes as graceful and beloved as a bride! - Ralph Waldo Emerson

Remember that the Devil doesn't sleep, but seeks our ruin in a thousand different ways - Angela Merici

Down you mongrel, Death! Back into your kennel!  - Edna Saint Vincent Millay

He that wrestles with us strengthens our nerves and sharpens our skills. Our antagonist is our helper. - Edmund Burke

The block of granite which was an obstacle in the path of the weak becomes a steppingstone in the path of the strong.  - Thomas Carlyle

 http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

More Goldilocks' Comments and Global Economic News Friday Evening 6-14-24

More Goldilocks' Comments and Global Economic News Friday Evening 6-14-24

Good Evening Dinar Recaps,

G7 vows to drop fossil fuels faster, but activists unimpressed - Swiss Info Channel

~~~~~~~~~

How the U.S.-China Trade War Is Delivering Big Wins for Mexico | WSJ

Do you remember back at the first of the year, and even late last year, when we said that the peso would rise?

© Goldilocks

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Putin voices support for Turkey’s desire to join BRICS during talks with Fidan - Turkish Minute

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KFC Attacked in Baghdad! | Youtube

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Iraq and Japan discuss projects to produce energy from waste and sustainable management in agriculture and water – Iraq News Gazette

~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline 

Goldilocks' Telegram Room

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Goldilocks on the Seeds of Wisdom Team™ Website

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Thank you Dinar Recaps

Goldilocks' Comments and Global Economic News Friday Afternoon 6-14-24

Goldilocks' Comments and Global Economic News Friday Afternoon 6-14-24

Good Evening Dinar Recaps,

First, enlarge the chart above so you can get the full picture where you will see the last two charts at the bottom.

Take a look at the two bottom sections of this chart on the US Debt Clock. If you look at it closely, you will see that the production rate is not meeting the demand and supply rate.

As you can see from the numbers, the demand and supply is way above production. When the need rises as it will for our utility tokens on the QFS, prices will rise including our tokenized (gold) assets on the new market.

So, the shipping industry along with gold are in process of finding equilibrium that will enable the stabilized production of goods to synchronize themselves with stabilized prices in tokenized assets.

There is a shift in attention towards credit valuation adjustments taking place. This is where the fun begins.    US Debt Clock

© Goldilocks

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Let's sum up a little bit from the last article posted last night and this morning. On the Moscow Exchange, we have local currencies currently being traded.

This will enable countries to individually synchronize their gold with their shipping correlations through tokenized assets.

As these assets are interfaced on the QFS, real-world assets can now find real-world values as they are traded on the market.

As these new prices that form on the Moscow Exchange begin to solidify, we will notice a domino effect Globally as currencies and goods begin to exchange Internationally. This is the starting point. This is where it all begins.

This is a process determined by supply and demand revealing price determinations through price actions that take place on the market.

© Goldilocks

Last Night's Article

Russian economy forced into China pivot after sanctions bombshell | Newsweek

Goldilocks Room Message Link

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Sovereign Wealth Fund Announcement:

"Hong Kong: New Sovereign Fund Starts Deploying Capital" The first batch of investments and start-ups begin this month. Why?

The purpose of a Sovereign Wealth Fund is to move onto the Global Market the assets and startup pools of liquidity in a country on the International stage through the liquidity provided by the SWF.

Hong Kong's new "tokenized assets" are in process of being interfaced onto the QFS. These new real-world asset prices based on real-world values will begin to reset and correlate themselves with new market chart patterns.

As they are being formed, movement into actual prices going forward will be gradual and not a shock to the system.   Asian Investor   Toptal

© Goldilocks

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World Federation of Exchanges says tokenization’s main benefit is fractionalization | Ledger Insights

The World Federation of Exchanges (WFE), the global trade body for stock exchanges and clearing houses, today published a paper on tokenization.

On balance, it was critical of the concept, although it concluded that it “may be the next phase for traditional assets."

It found that the primary benefit of tokenization is fractionalization. And by making fractional assets available to a larger pool of investors, there’s potential to enhance liquidity. 
WFE, Published Paper

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Do wholesale CBDCs compete with bank services? | Ledger Insights

Most banks are not keen on retail central bank digital currencies (CBDCs) because they fear it will lure away bank deposits. The recent support by the American Bankers Association for the anti-CBDC Bill is evidence of this. Wholesale CBDCs  – the ones only usable by institutions – were considered useful for banks.

However, some institutions are keener than others, often depending on the application of the wholesale CBDC. Executives in the securities services sector are usually the most enthusiastic. On the payments side, JP Morgan’s Umar Farooq appeared to have reservations during last month’s Consensus event.

CBDCs  American Bankers Association   Wholesale CBDCs

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Iraq's Development Road may link with China's Belt and Road | Iraq Business News

l-Sudani outlined Iraq's interest in developing gas projects to boost the manufacturing and fertilizer industries, adding value to the economy and creating job opportunities. He proposed presenting potential sites to CNPC for integrated energy projects comprising oil and gas production, processing plants, power plants, and petrochemical refineries.

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Risk of a global trade war if U.S. administration changes: Barclays | Youtube

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And the trade war begins...
     ... at the end of this trade war, new credit valuation agreements will be signed.

© Goldilocks.

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“Tidbits From TNT” Friday 6-14-2024

TNT:

Tishwash:  Rafidain Bank begins deploying ATMs in its main branches

Al-Rafidain Bank has begun deploying ATM machines in its main branches

The bank indicated in a statement, a copy of which {Al-Furat News} received, that the devices will be successively deployed in institutions, commercial areas and malls, in implementation of its strategic objectives in enhancing the spread of the bank’s services in accordance with Al-Rafidain’s strategy to enhance financial inclusion and provide the best services to its customers.

link

Tishwash:  this is from June 7 24  from Kurdistan

First MyAccount ATM to be installed in Sulaimani

In the Kurdistan Region of Iraq (KRG), more than 25,000 civil servants received their April salaries via their MyAccount master cards, and the number is expected to grow for the May salary.

Kurdistan24 Reporter Aram Bakhtiar on Friday stated that the first set of ATMs will be installed outside the Sulaimani Municipality as part of the MyAccount project.

In the Kurdistan Region of Iraq (KRG), more than 25,000 civil servants received their April salaries via their MyAccount master cards, and the number is expected to grow for the May salary.

Kurdistan Region Prime Minister Masrour Barzani on May 31, in a post on X called for Kurdistan Region civil servants to continue registering for the MyAccount initiative.

The government’s Department of Information Technology (DIT) designed, tested, piloted, and implemented a secure application for onboarding KRG civil servants into the program in line with the Central Bank of Iraq’s Know-Your-Customer (KYC) needs, according to a press release previously shared with Kurdistan24.

Eight banks have so far taken part in the project, including BBAC, Cihan, RT Bank, Bank of Baghdad, Iraqi Islamic Bank, National Bank of Iraq, Trade Bank of Iraq, and the International Development Bank.

MyAccount project is the KRG's financial inclusion program which aims to "provide public sector beneficiaries with a safe and convenient way to access their salaries."  link   

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Tishwash:  no details yet ……. text of the letter

Parliament sends the budget to the Presidency of the Republic for approval/document

Parliament asks the Presidency to approve the budget schedules

Office of the President of the Republic

M/ Parliamentary decision

good greeting ..

We are sending you Parliamentary Resolution No. (64) of 2024, voted on in session No. (27), held on 6/3/2024 of the first legislative term, third legislative year.

Fifth electoral cycle.

with respect

Accompaniments:

Parliamentary Resolution No. (64) dated 6/3/2024 0

- Disc (CD).

Safwan Bashir Al-Jarjari, Secretary General of the House of Representatives

Dhul-Hijjah / 1445 AH

June 12, 2024 AD  link

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Tishwash: The Foreign Minister invites the European Union representative to visit Iraq

Foreign Minister Fuad Hussein invited, today, Friday, the High Representative of the European Union for Foreign Affairs and Security Policy, Joseph Borrell, to visit Iraq.

A Foreign Ministry statement stated that “The High Representative of the European Union for Foreign Affairs and Security Policy, Mr. Josep Borrell, stressed in a telephone call with the Deputy Prime Minister and Minister of Foreign Affairs, Mr. Fuad Hussein, the importance of protecting the stability of Iraq, indicating that the European Union considers this part of its foreign policy priorities.” and security of the region.”

According to the statement, Borrell called for "the necessity of maintaining strong relations between the United Nations and its mission on the one hand and the Iraqi government on the other hand."

According to the statement, during the phone call, the two sides discussed "a group of issues related to European-Iraqi relations and the situation in the region."

In the field of bilateral relations, the Minister of Foreign Affairs expressed his "happiness with the development of relations between the two parties and reaching understandings in various fields, cooperation and joint work based on the partnership agreement signed between the two parties more than a decade ago." 

The statement added that "the call discussed the serious tensions in the region, and they expressed their support for the Security Council resolution on the ceasefire in Gaza," expressing at the same time their concern about the danger of expanding the scope of the war and its extension to southern Lebanon, noting that "the call also touched on The conference was held last Tuesday in the Hashemite Kingdom of Jordan regarding assistance to the people of Gaza, and they discussed the results of the conference.

The statement concluded that “Hussein invited Josep Borrell to visit Iraq, while Borrell expressed his happiness and agreement to accept the invitation, and agreed to arrange a date for the visit in the last quarter of this year.” "General".  link

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Mot: .. June 14th, National Flag Day - May It ALWAYS Wave for Freedom!!

Mot: . What the Flag Actually Means! ~~~~~Betsy Ross Flag