MilitiaMan & Crew Iraq Dinar News-Global Investments-American Companies-Economic Renaissance-World Bank Support

MilitiaMan & Crew Iraq Dinar News-Global Investments-American Companies-Economic Renaissance-World Bank Support

1-29-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=6eZc0sRJHEo

Seeds of Wisdom RV and Economic Updates Wednesday Evening 1-29-25

Good Evening Dinar Recaps,

BRICS: US DOLLAR FALLS AS TRUMP TARIFF PLAN TAKES A TURN

Geopolitical tensions are nearing a fever pitch as the global south and the west face off. With de-dollarization efforts at the forefront, the two sides have shown no interest in budging.

However, things took a twist for BRICS and the US this week, as the US dollar fell from its two-year high with President Donald Trump’s 100% tariff plan taking a turn.

Throughout his campaign for reelection, Trump has not been shy about his perspective on the US dollar. Specifically, he has continued to maintain the importance of the greenback to remain the world’s currency. This week, he has shared an interesting update that adds the latest on what is an extended saga.

US Dollar Falls From 2-Year High as BRICS & Trump Saga Enters Another Chapter

Since his 2024 presidential election win in November of last year, Donald Trump has targeted the BRICS alliance. He has issued a severe warning on the bloc, calling for 100% tariffs on participating nations. Specifically, he sought to challenge its ongoing initiatives to create a native currency to oppose the dollar.

That had been received rather well by the United States citizens. In his early days returning to the Oval Office, the greenback had surged to a two-year high. However, things took a turn on Monday. Specifically, the BRICS and US faceoff saw the US dollar fall as Trump’s tariff plan has taken a turn.

Late last week, the dollar fell to a January low following a recent statement from the US President. Specifically, Trump said he would “rather not” impose tariffs on China, according to a Yahoo Finance report. Moreover, he went into detail about the plan and its impact on the largest economy in BRICS.

“We have one very big power over China, and that is tariffs, and they don’t want them,” Trump said. “And I’d rather not have to use it. But it’s a tremendous power over China.” That statement led the US Dollar index to fall more than 0.5%. In the end, it would have its worst week of the year thus far.

The move saw the greenback suffer its greatest single-day drop since November of 2023. Moreover, the report notes that the movement is likely connected to the president’s refrain from using the “broad-based tariffs on his first day in office.”

 The unknown nature of the tariff policy will still have an increased effect on the dollar. With his economic and international relations policy still developing, its confrontation with BRICS is immensely important to observe.

@ Newshounds News™

Source:  Watcher Guru

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FED: BANKS ABLE TO SERVE CRYPTO CUSTOMERS, BTC UP 3%

Bitcoin bounced after comments from U.S. Federal Reserve Chair Jerome Powell at the FOMC meeting signaled that banks are allowed to serve crypto clients.

Crypto markets initially had a muted reaction to the Federal Open Market Committee’s decision on Wednesday, Jan. 29, to keep interest rates unchanged. The Fed maintained its 4.25% to 4.50% federal funds rate, citing “somewhat elevated inflation,” as analysts had predicted.

Bitcoin edged up 0.5% minutes after the Fed released its FOMC minutes. The uptrend accelerated to 3%, pushing BTC above $103,500 heading into the U.S. evening trading session.

Responding to a crypto-related question, Powell stated that U.S. banks are “perfectly able” to serve crypto customers, provided they comply with risk disclosure requirements. He emphasized that de-banking legally compliant customers is not Fed policy, addressing concerns related to the so-called “Operation Choke Point 2.0.”

“Great regulation on crypto would be helpful,” Powell added.

He also reiterated that the U.S. central bank cannot legally hold BTC, prompting Senator Cynthia Lummis to propose changing the law if necessary.

Digital asset markets flipped green following Powell’s remarks while major U.S. equity indices closed the day slightly in the red.

Unchanged federal interest rates split sentiment between bulls and short-term bears. Bulls argued that Bitcoin could surge in February, as it has in eight of the last 12 Februaries. They also speculated that President Trump’s pro-crypto stance could provide additional support for BTC and the broader market.

Bears, on the other hand, contended that static interest rates could deter new capital inflows into BTC and related products, such as Wall Street’s spot Bitcoin exchange-traded funds.

Meanwhile, reports suggest that President Trump has encouraged Powell and the Fed to implement lower interest rates. However, Powell stated that he has had no contact with Trump so far and did not comment on the rumored request.

@ Newshounds News™

Source:  Crypto News

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TRUMP MEDIA PARTNERS WITH CHARLES SCHWAB IN NEW CRYPTO VENTURE TRUTH.FI

President Donald Trump’s media and technology group (TMTG) is announcing a partnership with financial services giant Charles Schwab to further venture into the world of decentralized finance (DeFi)

In a new press release, TMTG – the firm behind social media platform Truth Social and the video streaming service Truth+ – says it’s collaborating with Charles Schwab to launch Truth.Fi, a fintech firm with crypto services.

@ Newshounds News™

Read more:  DailyHodl  

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Iraq Economic News and Points to Ponder Wednesday Afternoon 1-28-25

Expert Warns Against Changing The Exchange Rate: A Bigger Mistake Than The Last Adjustment

Time: 2025/01/29 18:06:33 Read: 1,620 times  {Economic: Al Furat News} Economic expert, Abdul Rahman Al Mashhadani, warned against changing the official exchange rate and returning it to 145 thousand dinars for every 100 dollars.

Al-Mashhadani told {Euphrates News}: "There is talk about the idea of ​​changing the official exchange rate and returning it to 145,000 dinars per 100 dollars," warning that "this measure will be a bigger mistake than the last amendment."

He stressed that "the dollar exchange rates in the parallel market have stabilized for a long time at the threshold of 151,000 dinars per 100 dollars," noting that "this difference has nothing to do with the 2025 budget schedules, as it will not differ much from the 2024 budget."

Al-Mashhadani pointed to "a desire to stabilize the price of a barrel of oil at $60 with a move to reduce investment expenditures, due to the large and ongoing financial deficit in the budget," adding that "the gap between the dollar in the parallel market and the official rate will remain as it is."

He explained that "the dollar exchange rates will not stabilize due to a gap in demand, as Iranian goods constitute a large part of the market, and imports continue at a rate ranging between $25 and $35 million per month, with these funds being financed from the parallel market instead of Central Bank transfers."

The economic expert concluded by stressing that "the exchange rate between the parallel and official market will remain the same unless trade is regulated and included in the Central Bank's transfers." LINK

Exchange Rates Recorded 151,500 Dinars Per 100 Dollars In Baghdad

Politics |  01/29/2025   Mawazine News – Economy  The US dollar rose against the Iraqi dinar on Wednesday in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar also rose with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 150,100 dinars per 100 dollars, while the prices were 149,900 dinars per 100 dollars this morning.

The selling prices stabilized in exchange shops in the local markets in Baghdad, where the selling price reached 151,000 dinars per 100 dollars, while the purchase price reached 149,000 dinars per 100 dollars.  In Erbil, the dollar also rose, where the selling price reached 150,200 dinars per 100 dollars, and the purchase price was 150,100 dinars per 100 dollars.  https://www.mawazin.net/Details.aspx?jimare=259167

Minister Of Finance: Iraq Provides An Attractive Investment Environment Based On Advanced Infrastructure

Wednesday 29 January 2025 20:13 | Economic Number of readings: 31   Baghdad / NINA / Minister of Finance Taif Sami confirmed: "Iraq provides an attractive investment environment based on advanced infrastructure."

A statement by the Ministry of Finance media stated: "Minister Taif Sami received, today, Wednesday, the Ambassador of the Czech Republic to Iraq, Jan Schneidaov. During the meeting, they discussed joint cooperation in the economic and investment fields."

The Minister confirmed, according to the statement: "Iraq provides an attractive investment environment based on advanced infrastructure," referring to the opportunities available to foreign investors, especially in the banking, energy, and manufacturing sectors.

She stressed the Iraqi government's commitment to enhancing cooperation with the Czech Republic in the fields of finance and reconstruction, and benefiting from Czech expertise in developing the financial and banking sector.

For his part, Ambassador Jan Schneidaov expressed his country's desire to strengthen the economic partnership with Iraq, stressing the readiness of Czech companies to invest in the Iraqi market, especially in the fields of technology and industry.

He also pointed out the importance of expanding trade exchange between the two countries and strengthening financial cooperation channels. / https://ninanews.com/Website/News/Details?key=1182748

Globally.. A Slight Decline In Gold Prices

Time: 2025/01/29 Read: 870 times   {Economic: Al Furat News} Gold prices fell slightly on Wednesday, as investors await the results of the US Federal Reserve meeting, which is scheduled to end later today.
Spot gold prices fell by about 0.03% to $2,762.24 per ounce.

Gold prices fell more than 1% on Monday, their biggest drop since Dec. 18, hit by the launch of China’s low-cost artificial intelligence-powered DeepSec app. A sharp decline in global stock markets in the previous session also led to risk aversion in other assets. LINK

Oil Prices Recover From Lows To $77.49 Per Barrel

Economy | 09:15 - 01/29/2025   Mawazine News – Baghdad  Oil prices steadied on Wednesday, recovering from multi-week lows, after the White House confirmed U.S. President Donald Trump's plans to impose tariffs on Canadian and Mexican imports this week.

Concerns about weak demand linked to weak economic data from China and high temperatures elsewhere capped gains. Brent crude futures fell 2 cents to $77.49 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 3 cents to settle at $73.80. In his speech broadcast from Washington, D.C., Trump called for lower oil prices and lower interest rates globally.

The White House said Trump still plans to impose 25 percent tariffs on Canada and Mexico on Saturday while considering new tariffs on China. In Libya, local protesters blocked crude oil loadings on Tuesday at the Es Sider and Ras Lanuf ports, putting about 450,000 barrels per day (bpd) of exports at risk.

But fears of supply disruptions eased after Libya’s National Oil Corporation said export activity was running normally after talks with protesters. China, the world’s biggest importer of crude oil, reported an unexpected contraction in manufacturing activity in January on Monday, putting pressure on oil prices.

 Chinese demand for crude is also expected to be affected by recent U.S. sanctions on Russian oil trade. In the United States, weather forecasts are calling for above-average temperatures this week, which is also affecting demand for gasoline Heating after bitter cold weather sent natural gas and diesel prices higher in previous sessions.  https://www.mawazin.net/Details.aspx?jimare=259142

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 1-29-25

Good Afternoon Dinar Recaps,

CRYPTO MOMENTUM IN THE US: WHAT’S NEXT FOR RIPPLE PAYMENTS

The turn of the year signifies motivated new beginnings, and Ripple has hit the ground running in 2025 with multiple advances to its cross-border payments solution.

Additionally, industry players across the US are enthusiastic about what the next four years has in store as a progressive crypto administration takes office.

Financial institutions that are eager to stay ahead of the curve are moving to capitalize on crypto—both to diversify portfolios and to optimize efficiency through blockchain solutions.

Crypto-enabled cross-border payments is one use case that has proven valuable to global finance leaders, more than 90% of which believe blockchain and digital assets will have a massive or significant impact on finance in the next three years.  

Ripple, the leading provider of digital asset infrastructure for financial institutions, has recently secured key Money Transmitter Licenses (MTLs) in New York and Texas—two states where Ripple has seen strong demand for real-time global payments from both banks and crypto businesses—bringing the total to more than 50 MTLs.

Texas and New York have defined regulations and stringent licensing requirements with robust compliance standards and regulatory oversight.

With more than 60 licenses globally, Ripple can offer customers access to a seamless, compliant-first, global payment experience that leverages the superior capabilities of digital assets. MTLs allow Ripple Payments customers to access a licensed version of the cross-border payments solution in the US where transactions are managed end-to-end by Ripple on behalf of the customer.

For years, Ripple has been working diligently to secure global licenses. Ripple and its other subsidiaries collectively hold:

▪️a NY BitLicense

▪️NY Limited Purpose Trust Company Charter

▪️55+ MTLs across Ripple's payments, custody and stablecoin business

▪️a Major Payment Institution License from the Monetary Authority of Singapore

▪️a Virtual Asset Service Provider registration with the Central Bank of Ireland

▪️a Virtual Asset Service Provider registration with the Cayman Islands Monetary Authority

▪️in-principle license approval from the DFSA

Additionally, customers can access Ripple’s global payments network through a single integration where streamlined onboarding offers the agility and speed necessary to keep up with the rapidly evolving payments market. Last year saw banks lose a small but noteworthy share of the cross-border payments market to new players, indicating a trend that will likely drive banks to rethink strategies to stay competitive.

“We’re continuing to see more interest from financial institutions to crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient and 24/7 cross-border payments.

With years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies who are ready to take advantage of the current landscape,” said Joanie Xie, Managing Director of North America at Ripple.

Ripple Payments has served $70 billion in payments volume, with around-the-clock availability and global network coverage across 90+ markets representing more than 90% of the daily FX markets. Last year, Ripple’s payments business doubled and a number of new North American customers were added to the network including:

▪️Bancoli

▪️CambioReal

▪️GeoSwift

▪️AgilityFx

▪️Cloud Payments

▪️Atlantic Xchange

▪️Zil Money

Demand for digital asset capabilities has grown alongside greater adoption of stablecoins for payments including Ripple USD (RLUSD)—an enterprise-grade, USD-denominated stablecoin created with trust, utility, and compliance at its core. RLUSD will be integrated into Ripple Payments later this year.

Digital asset regulation in the US is rapidly shifting. Just last week, the Securities and Exchange Commission (SEC) rescinded SAB 121 for crypto assets, which would have imposed prohibitive requirements on banks offering digital asset custody services. Congress had previously voted to overturn SAB 121 last year with bipartisan support.

A growing number of US policymakers and regulators are recognizing the importance of digital asset innovation, signaling a confidence in the realized and potential benefits at both the consumer and industry level.

As such, real-world digital asset use cases are moving to the foreground and institutions are taking action on their crypto strategies. 

The financial sector is trending increasingly digital as technologies like blockchain and artificial intelligence envelop existing services and open doors to new use cases like real-world asset (RWA) tokenization which can afford greater utility, liquidity, and accessibility of financial instruments (e.g., stocks, bonds, ETFs).

Ripple is continuing to expand its US footprint by investing in domestic talent; ~75% of open positions are based in the US and domestic hiring has doubled compared to 2023. Just last year, Ripple opened new, larger offices in San Francisco and New York, signaling positive business momentum in the US.

The coming years will likely be monumental for the crypto industry, with many optimistic that political bodies and financial institutions alike will glean the benefits of blockchain through public-private collaboration, continued education, and tangible results driven by real-world applications of the technology.

@ Newshounds News™

Source:  Ripple

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COINBASE DEEPENS TIES TO TRUMP WITH ADVISORY COUNCIL PICK

Weeks after a meeting between Trump and Brian Armstrong to reportedly discuss personnel, the US president’s co-campaign manager will be joining Coinbase’s advisory council.

In a Jan. 29 notice, Coinbase said former Trump co-campaign manager Chris LaCivita would join former US Senator Kyrsten Sinema, former New York Fed president Bill Dudley and former Colombian Ambassador to the US Luis Alberto Moreno on the exchange’s Global Advisory Council. LaCivita, who worked to help elect Trump, has close ties to the Republican National Committee and likely continues to have a relationship with the US president.

According to LaCivita, the crypto industry “deserves better” than former US President Joe Biden’s administration’s approach to legislation and regulation. He echoed Trump’s claims of making the US a leader in digital assets.

Coinbase established its advisory council in May 2023 to navigate the “increasingly complex and evolving” crypto landscape globally. 

The council’s members have included several former US lawmakers, including former Senator Pat Toomey. Cointelegraph contacted Coinbase regarding its current ties to the Trump administration but did not receive a response at the time of publication.

Coinbase CEO Brian Armstrong reportedly met with Trump in November after the US election to discuss personnel appointments. The exchange donated $1 million to Trump’s inauguration fund and said it was “committed to supporting” the transition from the Biden administration.

In 2020, Armstrong said Coinbase would not support “any particular causes or candidates” unrelated to its mission, calling them a “distraction.”

After the exchange received a Wells notice from the US Securities and Exchange Commission in 2023 — that ultimately led to a civil lawsuit — the company launched efforts to influence the outcome of US congressional elections, later contributing $45 million to help elect “pro-crypto” candidates in 2024.

With the election of Trump, some executives at crypto firms have suggested that the SEC’s new leadership could drop enforcement cases, potentially including Coinbase’s. A federal judge ordered Coinbase’s case stayed in January pending a decision by the Second Circuit Court of Appeals that could reverse an order denying the exchange’s motion for judgment.

@ Newshounds News™

Source:  CoinTelegraph

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FED HOLDS INTEREST RATE AT 4.25-4.5% DESPITE TRUMP’S CALL FOR A CUT: HERE’S THE IMPACT ON CRYPTO

The US Federal Reserve has finally announced its first policy decision for 2025 following two-day Federal Open Market Committee (FOMC) meeting. According to the recent press release, the Federal Open Market Committee decided to maintain interest rates at their current range of 4.25% to 4.5%. This decision follows after the committee lowered rates three times consecutively last year.

Fed Pauses Rate Cuts Despite Trump’s Call

As expected, Federal Reserve officials decided not to change interest rates after their recent two-day meeting, the first under President Trump’s second term. They made this choice even though President Trump has been pushing them to lower the rates.

Crypto Market Remains Stable

The crypto market stayed fairly stable because it had already expected the decision to keep interest rates unchanged. Fed Chair Jerome Powell previously mentioned that the committee isn’t rushing to lower the key benchmark interest rates and will proceed more cautiously with any rate cuts.

@ Newshounds News™

Read more:  Coinpedia

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Some “Iraq News” Posted by Clare at KTFA 1-29-2025

KTFA:

Clare:  Our relationship with America will become stronger with an initiative that Al-Sudani will announce soon.. Expectations of his advisor

1/29/2025

Farhad Alaa Al-Din, the Prime Minister’s advisor for foreign affairs, confirmed in an article published in the English-language Emirati newspaper “The National” that Iraq offers great opportunities for American companies in the energy sector, confirming that there are discussions with several companies, including Exxon Mobil and Chevron.

He also said that the projects allocated to American companies in the coming years are estimated at tens of billions of dollars, while he expected Prime Minister Mohammed Shia Al-Sudani to announce a pioneering financial initiative that he said could change the business landscape in Iraq and strengthen its relationship with the United States.

The advisor stated that according to Trading Economics, US exports to Iraq in 2023 amounted to $2.26 billion, an increase of 230% over 2022 and 280% over 2021, while total agricultural exports alone amounted to $357 million, which is more than double the 2022 figures and three times the 2021 figures.

Article by Farhad Alaeddin, in The National, translated by 964 Network :

With the change of administration in Washington, many observers expected uncertainty regarding US policy in the Middle East, especially towards Iraq. US President Donald Trump’s priorities clearly focused on domestic issues such as immigration, economic reform, and corporate repatriation. However, his appointment of strong leaders to key foreign policy positions indicated a continued focus on maintaining US influence abroad in general, and in the Middle East in particular.

Mr. Trump and his team have demonstrated their commitment to de-escalation, and their role in helping to broker a ceasefire in Gaza was essential even before the president took office. Mr. Trump has long been engaged in the fight against ISIS, and one of his main campaign promises was the total defeat of the terrorist group.

In a March 2024 interview, he proudly noted his leadership role in the fall of ISIS, saying he “got rid of it.” While the group has been largely physically eliminated in Iraq, where it once held vast territory, it remains a threat in remote areas and now poses a risk of resurgence in Syria, particularly after the collapse of the Assad regime. Clearly, a complete and lasting defeat of ISIS, beyond any chance of recovery, will require, and indeed will be essential, strong cooperation between Iraq and the United States.

Iraq and the United States can share many security, political, and economic issues for mutual benefit. Regionally, Iraq stands out as an anchor of stability and an important player in diplomacy. Under Prime Minister Mohammed Shia al-Sudani’s “Iraq First” policy, the country has adopted a moderate and inclusive approach that prioritizes shared interests. This position enhances the country’s influence in the region and underscores its importance as a partner for the United States in maintaining stability.

The strong and thriving U.S.-Iraq relationship promotes stability and prosperity in the region, but the U.S.-Iraq relationship extends beyond military and security cooperation, encompassing sectors as diverse as energy, agriculture, education, and economic development. Al-Sudani is currently leading Iraq through an ambitious reconstruction effort, with funding exceeding any allocation in the past two decades.

Iraq offers significant opportunities for U.S. companies in the energy sector, with discussions underway with major companies such as ExxonMobil and Chevron, along with initiatives involving General Electric, Baker Hughes, KBR, and Halliburton. Overall, projects for U.S. companies could be worth tens of billions of dollars over the next few years.

 Financial institutions, including the Export-Import Bank and the International Monetary Fund, have expressed interest in supporting these efforts.

 Notably, the prime minister is expected to announce a major financial initiative that could change the business landscape in Iraq and further strengthen its relationship with the United States.

American companies are increasingly drawn to Iraq, as evidenced by the growing activities of the US-Iraq Business Council, while the events of the American Chamber of Commerce in Iraq now attract more American companies than ever before.

According to Trading Economics, a data and forecasting firm, U.S. exports to Iraq reached $2.26 billion in 2023—a significant 230 percent increase from 2022 and 280 percent higher than 2021. Agricultural exports alone totaled $357 million, more than double the 2022 figures and three times the 2021 figures. These figures are expected to rise significantly in 2024 and 2025, and U.S. farmers, in particular, will benefit from this burgeoning trade relationship.

In addition, the Iraqi government has approved a program to send 5,000 students abroad for master’s and doctoral studies, with approximately 3,000 students to study in the United States. American universities will benefit greatly from this initiative, along with collaboration with institutions such as the American universities in Baghdad, Duhok, and Sulaymaniyah.

Al-Sudani described relations with the United States as “strategic” and “institutional,” emphasizing the depth of this partnership in his recent media appearances, and in particular, in an interview with Elaph in London, hours before Mr. Trump’s inauguration on January 20, the prime minister said that Iraq “is ready to cooperate with the new administration.” He stressed that this relationship is based on the joint strategic framework agreement between the two countries, “as well as our partnership in the international coalition to fight ISIS.”

A strong and prosperous relationship between the United States and Iraq promotes stability and prosperity in the region, benefiting the interests of both countries and their people. Through strategic cooperation in security, economics, and diplomacy, this partnership has the potential to shape a more stable and prosperous Middle East.   LINK

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Clare:  In the presence of the Kurdistan Interior Ministry.. Baghdad hosts a meeting to implement the security agreement with Iran

1/29/2025

The Iraqi National Security Advisory hosted, on Wednesday, a meeting of the Supreme Committee for Implementing the Security Agreement between the Republic of Iraq and the Islamic Republic of Iran.

An official Iraqi statement received by Shafaq News Agency stated that the National Security Advisor, Qasim Al-Araji, headed the Iraqi delegation, in the presence of the Minister of Interior of the Kurdistan Region, Reber Ahmed, and representatives of the region, while the Iranian delegation was headed by Abdul-Reza Maskarian.

The meeting witnessed a review of the measures taken by the two countries to implement the terms of the agreement, in addition to discussing the current obstacles and challenges, and the necessary measures to expedite the implementation of the agreement.

During the meeting, Al-Araji stressed the Iraqi government's keenness not to use Iraqi territory as a launching pad for attacks on neighboring countries, while it was agreed to hold a subsequent meeting in the Kurdistan Region to complete the discussions.  LINK

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Clare:  Chairman of the Finance Committee: Charting a new path to manage the financial situation in Iraq

1/29/2025  Baghdad 

The head of the Finance Committee in the House of Representatives, Atwan Al-Atwani, confirmed today, Wednesday, that the committee has placed at the top of its priorities charting a new path for managing the financial situation in the country, by enhancing non-oil revenues.  

A statement by the Finance Committee, received by "Mawazine News", stated that Al-Atwani, accompanied by the delegation currently visiting the United Kingdom, met separately with Baroness Baroness de Sousa and Director of the Oversight Unit in the British House of Commons Alex Knight, in the presence of specialists from the International Partners Foundation.  

The statement indicated that the meetings addressed the prospects for cooperation between the Finance Committee in the Iraqi Council of Representatives and the relevant committees in the British House of Commons, with the aim of exchanging experiences in legislative and oversight work in a way that serves common interests.  

Al-Atwani explained, after reviewing the structure of the British House of Commons and the House of Lords, that the Iraqi Council of Representatives needs to create permanent specialized formations of experts to chart the path of legislative work, and complete the requirements for enacting laws in a way that achieves the country's supreme interests and is consistent with development plans.  

He stressed that strengthening the legislative authority with specialized formations will contribute to maturing laws and determining the actual need for legislation, away from personal interpretations.  

Al-Atwani also stressed the need to reduce dependence on oil as a primary source of revenue, noting that Iraq has other financial resources that can form basic pillars of the budget, such as customs, taxes, investment of state assets, the communications sector, and other government services.  LINK

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Clare:  The Council of Ministers issues a series of decisions to develop airports and support parliamentary elections with about 400 billion dinars

1/28/2025

Prime Minister Mohammed Shia Al-Sudani chaired the fourth regular cabinet session of the current year today, Tuesday, during which the general conditions in the country were discussed, important files and priorities of the government program were discussed, in addition to discussing the topics on the agenda and taking the necessary decisions regarding them.

 The Council of Ministers followed up on the energy file, as it approved the inclusion of the Majnoon oil field in social benefit projects, equal to what is in effect in other licensing contracts, and enabling the Ministry of Oil/Basra Oil Company to implement service projects in accordance with the mechanism set out in Cabinet Resolution (24318 of 2024) regarding the implementation of social benefit projects for licensing round contracts, as well as the Ministry of Finance allocating an amount of (10) million dollars annually from the Majnoon oil field account, to implement the projects under discussion within the planning budget of the company operating the field/Basra Oil Company.

In order to develop and organize the work of airports, the following was approved:

1. The Ministry of Transport shall contract with the specialized international consultant (International Finance Corporation IFC) to prepare the investment booklet for the management, operation and development of airports (Basra, Mosul, Dhi Qar and Najaf), in partnership with the private sector (PPP) according to a specific timetable in cooperation and coordination with the Civil Aviation Authority, and the cost of the consulting study shall be borne by the winning bidder and a portion by the relevant governorate.

2. The Ministry of Transport or the governorate (in which the airport is established) shall be responsible for contracting with the party with which the partnership is required (the winning bidder), in coordination between the aforementioned ministry and the governorate in which the airport is established.

3. The Ministry of Transport shall supervise and monitor the airports, including the revenues generated from the airport and employment in it, in coordination with the governorate in which the airport is established, which shall be the liaison with the federal government in facilitating all relevant government procedures.

4. The management of passports, customs, health, security, airport security, air traffic control, standardization and quality control at airports shall be the exclusive responsibility of the federal government.

5. Baghdad International Airport is excluded from the aforementioned paragraph (2), and the Ministry of Transport remains the contracting party with the investor.

In the same context, the Council of Ministers approved the following:

1. The Ministry of Transport/Iraqi Airways shall pay the fees due after signing the investment or partnership contract in accordance with the civil airports wage system (No. 6 of 2018).

2. The Ministry of Transport shall negotiate with investors or participants in airport management to determine the minimum amount of airport revenues that must be guaranteed by the Iraqi side, and the negotiation minutes shall be submitted to the Council of Ministers to enable the Ministry of Finance to provide the required guarantees.

3. The Ministry of Transport shall agree with the investor or participant in airport management to include a clause in the contract that includes determining the amount of compensation to be paid, in the event that the airport management or any government agency with jurisdiction terminates the investment or partnership contract by its sole will before the end of the contract term.

4. The Ministry of Transport, the Civil Aviation Authority and the Advisory Board shall prepare a draft amendment to the airports wage system No. (6 of 2018), ensuring that the issue of fees collected is addressed in accordance with the aforementioned system, in a manner consistent with the nature of contracts and the economics of the air transport market.

As part of the financial reform measures, the Council approved the preparation of a draft law stipulating that the work of the Insurance Bureau be linked to the Central Bank of Iraq, as the Bureau is one of the non-banking financial institutions that works to regulate and supervise the insurance sector, in a way that ensures its development and secures an open, transparent and financially secure market.

In the field of tax cooperation, it was agreed to authorize the Director General of the General Tax Authority at the Ministry of Finance to negotiate and initial the draft agreement to avoid double taxation and prevent evasion of taxes imposed on income and capital between the Government of the Republic of Iraq and the Government of the Sultanate of Oman, based on the provisions of the Constitution. The Ministry of Foreign Affairs shall prepare the necessary authorization document in the name of the Government of the Republic of Iraq for the Director General of the Authority, and submit it to the General Secretariat of the Council of Ministers in order to obtain the signature of the Prime Minister.

With the aim of developing trade and simplifying procedures, the Council of Ministers approved the draft (E-commerce Regulation System in Iraq).

The Council also approved the draft law amending the first law of the Sunni Endowment Diwan (56 of 2012), which was reviewed by the State Council and referred to the House of Representatives, based on the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers.

As part of the government’s efforts to develop Baghdad’s heritage areas, the Council of Ministers approved the exemption of the rehabilitation project of the heritage Qishla building (Al-Aqsa Post Office) from the instructions for implementing government contracts (2 of 2014) and the controls attached thereto, and contracting with the company nominated by the Ministry of Culture, Tourism and Antiquities.

As part of the government’s efforts to resume work on stalled and suspended projects, the Council of Ministers approved the following:

1. Establishing a component (equipping medical devices, medical and office furniture with medical supplies) within the components of the (Mosul Hospital Rehabilitation) project included in the Ministry of Health's investment budget tables for the year 2023, with a new contract according to the controls, and increasing the total cost of the project.

2. Increasing the reserve amount and the total cost of the (Residential Complex in Diyala Governorate/Al-Ghalibiya) project, and increasing the amount of supervision and monitoring.

3. Increasing the reserve amount and the total cost of the (Residential Complex in Wasit Governorate/Zurbatiya) project.

4. Increasing the reserve amount for the (Construction of Classrooms) component included within the components of the (Design and Implementation of Engineering Complex Buildings) project at the University of Babylon, and increasing the amount of supervision and monitoring, and establishing a component called (the amount of increase in unpaid dues for the Classroom Construction Component), and increasing the total cost of the main project.

As part of the government's efforts to provide support for the parliamentary elections, the Council of Ministers approved the inclusion of the difference amounting to (294.370) billion dinars, within the tables of estimates of the federal general budget for the year 2025, based on the provisions of the Federal General Budget Law (13 of 2023), so that the amount becomes (398.600) billion dinars, for the purpose of covering the costs of implementing the 2025 House of Representatives elections, as an exception to the instructions for implementing government contracts (2 of 2014), and the instructions for facilitating the implementation of the budget law (1 of 2023), and amending the text of the budget law for the years (2023, 2024, and 2025) sovereign expenditures, including the House of Representatives elections.   LINK

Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-29-25

Good Morning Dinar Recaps,

ELON MUSK’S X PARTNERS WITH VISA TO BUILD FUTURE PAYMENT SYSTEM WITH X MONEY

X CEO Linda Yaccarino announces a groundbreaking partnership with Visa for X Money, enabling real-time fund transfers and debit card connectivity as the platform expands into financial services.

▪️X has secured money transmitter licenses in over 40 states and FinCEN registration, laying groundwork for comprehensive financial services.

▪️The platform will allow users to fund X wallets via Visa Direct, highlighting Musk's strategy to transform X into an all-encompassing service.

▪️While promising innovative features for creators and users, the platform faces scrutiny over potential financial control and social credit concerns.

Elon Musk’s social media platform X has partnered with Visa to manage person-to-person payments for its upcoming X Money product. X CEO Linda Yaccarino announced that the partnership is the first of many major announcements related to X Money this year.

Yaccarino shared that Visa is the first partner for the X Money account, which is expected to launch before year’s end.

 She explained that Visa will allow the platform users to fund their X wallets via Visa Direct, connect their debit cards for person-to-person payments, and transfer funds instantly to a bank account.

On December 31, the X CEO hinted at what users can expect this year, saying, “2025 X will connect you in ways never thought possible.   X TV, X Money, Grok and more.”

Visa confirmed the partnership in a post, noting that it will enable U.S. X Money Account users to fund their accounts and transfer money in real-time using their debit cards through Visa Direct. The company stated:

“We’re excited to partner with XMoney on the launch of X Money Account. Visa Direct will make it possible for US X Money Account users to fund and transfer money in real-time with their debit card.”

Musk’s Plans to Evolve X Into an All-in-One Platform

Elon Musk has shared his vision of transforming X from a social media platform into an “everything app.” He has promised to make X a platform where users can conduct their financial activities. 

This collaboration with Visa signals a step toward realizing that vision. While the launch date for X Money remains unknown, more partners may join. According to CNBC, one of the initial uses for X Money will be enabling creators to receive payments and store funds independently.

In November 2022, Musk hinted during a publicly broadcast meeting with advertisers on Spaces that the platform’s upcoming payments product could eventually include banking features, such as a high-yield money market account.

X has successfully obtained money transmitter licenses in more than 40 states for its X Payments subsidiary and is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Service Business (MSB). App researchers have discovered code linked to X Money that outlines features like loading money into a wallet on the platform and making payments to other users.

Concerns Over X’s Financial Ambitions

Despite the excitement around X Money’s potential, there are concerns about the platform’s growing financial reach. Dominic Michael Tripi, a commentator with over fifty thousand followers on X, raised doubts about X’s control over user finances. 

He pointed out that if the platform can take actions like removing a user’s verification checkmark or suspending an account, it could potentially control access to users’ funds. He wrote:

“If they can take away your checkmark or suspend your account, they can take away your money. This is a precursor to a social credit system.”

@ Newshounds News™

Source:  CoinSpeaker

~~~~~~~~~

BRICS: SAUDI ARABIA MEMBERSHIP DECISION TO IMPACT 2 KEY THINGS

Out of the nations that BRICS invited to join the bloc in 2023, Saudi Arabia is one of the few that hasn’t officially joined yet. The Kingdom has been weighing the decision to join the alliance for over a year, with major geopolitical implications in the balance. 

Faisal Al-Ibrahim, Minister of Economy and Planning, explained during the World Economic Forum in Davos that the kingdom is prioritizing a thoughtful approach to the decision, and doesn’t want to rush.

He stated that the country remains focused on the goal of “global dialogue” and carefully examines the “numerous aspects” related to a potential membership. According to him, this decision goes beyond economic considerations and involves complex strategic implications.

“The risks to economic cohesion, fiscal robustness, lingering inequalities, and energy access are not unconnected and affect us all,” the minister writes. “As such, tackling them demands bold, collaborative action and solutions.”

Al-Ibrahim also added at the forum,” “The kingdom is always focusing on fostering more global dialogue,” and that the Kingdom will come to an “appropriate decision.”

How Will Saudi Arabia Joining BRICS Affect the Alliance and Kingdom?

The BRICS alliance will get a boost in the arm if Saudi Arabia accepts the invitation and joins the bloc. Saudi Arabia is rich in cash flow and can fund the projects of the New Development Bank (NDB). The Kingdom is also oil-rich and can allow BRICS to control nearly 42% of the world’s natural oil sector.

On the other hand, Saudi Arabia does not want to sever ties with the West by joining the BRICS alliance. The Middle Eastern country wants to maintain a balance between the West and other developing countries. Riyadh is deeply interested in strengthening economic and diplomatic relationships with other major powers.

 Most importantly, China is Saudi Arabia’s top trading partner, and Riyadh is the main supplier of crude oil to Beijing. These ties have only grown as the kingdom pursues its Vision 2030 plan to diversify its economy.

 The success of its Vision 2030 needs the help and assistance of all countries combined. Losing one for the other would prove costly to Saudi Arabia’s economy.

In conclusion, Saudi Arabia’s decision to join or not to join BRICS will have plenty of implications not just on the Kingdom or the alliance, but several geopolitical outcomes. The Kingdom continues to weigh its options, and likely will not rush to a final decision.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

ONDO TO BRING TOKENIZED US TREASURYS TO XRPL

Ondo Finance said Tuesday (Jan. 28) that it will bring tokenized U.S. Treasurys to the XRP Ledger (XRPL).

This collaboration will offer institutional investors access to Ondo Short-Term U.S. Government Treasuries (OUSG), which are backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and can be instantaneously minted and redeemed at any time using the Ripple USD (RLUSD) U.S. dollar-denominated stablecoin, the companies said in a Tuesday (Jan. 28) press release.

“This integration is the natural convergence of a compliance-first, yield-bearing product with a network purpose-built for institutional adoption, setting the groundwork for forward-thinking institutions to lead a new era of capital markets onchain,” Ondo Finance Vice President of Partnerships Katie Wheeler said in the release.

Ondo and Ripple have secured commitments to seed OUSG liquidity upon deployment, according to the release.

The companies’ collaboration will meet institutional demand for tokenized U.S. Treasurys that offer liquidity, efficiency and transparency in capital markets, the release said.

Bringing OUSG to XRPL will provide a solution that provides institutional-grade security, accessible liquidity, and seamless tokenization and trading of real-world assets (RWAs), per the release.

“The 24/7 intraday settlement enabled by tokenized assets like OUSG marks a transformative shift in capital flow management, breaking free from traditional trading hours and slow settlements,” Markus Infanger, senior vice president, RippleX, said in the release.

The tokenization of RWAs has captured the imaginations of various players across payments, finance and commerce because it has the potential to make assets more liquid, accessible and efficient, PYMNTS reported last April.

Ripple and Archax extended their existing collaboration in June, saying they aimed to bring hundreds of millions of dollars of tokenized RWAs onto XRPL. Because Archax works with financial institutions to enable them to tokenize their financial RWAs, the collaboration will allow those institutions to select the XRPL to do so.

In February, Ondo Finance and Aptos Foundation partnered on the integration of RWAs with blockchain technology, beginning with the integration of Ondo’s tokenized U.S. Treasurys product, USDY, onto the Aptos blockchain. The partnership also sets the stage for a series of financial products using the strengths of the two organizations.

@ Newshounds News™

Source:  Pymnts

~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 1-29-2025

TNT:

Tishwash:  The Finance Committee: Our priorities are to chart a new course for managing the financial situation

The head of the Finance Committee, Atwan Al-Atwani, confirmed today, Wednesday, that the committee has placed at the top of its priorities the development of a new path for managing the financial situation.

A statement by the Finance Committee received by the Iraqi News Agency (INA) stated that "the head of the Finance Committee, Atwan Al-Atwani, met with the delegation currently visiting the United Kingdom, Lord Baroness de Sousa and the Director of the Oversight Unit in the British House of Commons, Alex Knight, each separately, in the presence of specialists from the International Partners Foundation."

He explained that "the discussions were held on the prospects of joint bilateral cooperation between the Finance Committee in the Iraqi Council of Representatives and the specialized committees in the British House of Commons in terms of legislative and oversight work and the exchange of expertise in all fields, in a manner that serves the interests of the two friendly peoples."

The statement continued, "After reviewing the structure of the British House of Commons and the House of Lords and the role of each of them, Al-Atwani stressed the need for the Iraqi Council of Representatives to establish permanent specialized formations of experts and specialists whose mission is to chart the course of legislative work and complete the requirements for enacting laws and consolidating legislation in a manner that achieves the country's supreme interests and is consistent with development plans and service programs."

He pointed out that "strengthening the work of the legislative authority with these specialized formations would mature the laws and assess the government's actual need for the legislation to be enacted, away from personal interpretations."

During his discussions, Al-Atwani reviewed "a number of files and topics of common interest," noting that "his committee has prioritized charting a new path for managing the financial situation in the country through a gradual transition to relying on non-oil revenues, especially since Iraq has financial revenue outlets that can be pillars of building the budget, including customs, taxes, investment of state assets, communications, and other government services."  link

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Tishwash:  Central Bank Governor announces imminent launch of major initiative to finance industrial projects

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, the imminent launch of an initiative to finance industrial projects, while pointing out that financial stability is no less important than political and security stability.

The Governor of the Central Bank, Ali Al-Alaq, said in a dialogue session during the Iraq Energy Conference, which was followed by "Al-Eqtisad News", that "the initiatives undertaken by the Central Bank represent tools to move the wheel of development and enhance economic stimulus, and they are unconventional policies aimed at supporting the overall economy.

" He added that "the Central Bank is one of the global banking institutions that adopt unconventional monetary policies," noting that "the size of the accumulations in the aspects of backwardness in the infrastructure is a major challenge."
He explained that "the Central Bank is concerned with achieving economic stability, especially since energy factors are directly linked to the economic situation by supporting factories, companies, and others."

He pointed out that "the Central Bank intervenes in supporting and financing various projects, including renewable energy projects, whether through direct or indirect support."
He pointed to "the importance of monetary and financial stability," indicating that "it is no less important than political and security stability."

He continued that "the Central Bank has launched multiple initiatives to finance real estate and small and medium-sized projects, as projects worth 13 trillion dinars have been financed since 2016 until now, which has contributed to the sustainability of the economy, in addition to allocating 1 trillion dinars to encourage citizens and companies to purchase solar energy units."

He added that "there are ongoing arrangements to finance industrial projects in coordination with the Trade Bank of Iraq and the Industrial Bank," indicating that "the liquidity available at the Trade Bank of Iraq will be used to support these projects, in addition to the funds of the Industrial Bank, with the aim of launching a major initiative to finance industrial projects, which is expected to see the light soon."

He stressed that "the Council of Ministers has agreed to enhance cooperation between government banks with a financial surplus to finance industrial projects through the Industrial Bank, as it is the competent authority in this field," stressing "the imminent launch of this major initiative  link

************

Al-Sudani: We are a cornerstone in the stability of energy markets.. This is how we are viewed

Prime Minister Mohammed Shia al-Sudani said on Tuesday that Iraq has become a cornerstone in the stability of global energy markets, and is on the path to becoming a regional center for energy industries, indicating that countries have begun to view it in this way, and its position has begun to acquire a brighter image, during his speech at the Iraq Energy Conference.

Al-Sudani's office said in a statement:

Prime Minister Mohammed Shia Al-Sudani inaugurated today, Tuesday, the Iraq Energy 2025 Conference, which was held by the Iraq Development Platform in the capital, Baghdad, under the slogan (Together for a Promising Energy Future).

His Excellency stressed, in his speech, that the conference is an opportunity to learn about the state’s policies and programs in the energy sector, which occupies a pivotal position in all the government’s development plans and its commitment to modernizing and developing it, in parallel with the goal of diversifying the economy, in a way that positively reflects on other sectors.

The Prime Minister explained that a tangible digital achievement has been made since the government assumed its responsibility, through a set of commitments, most notably stopping gas flaring by 70%, benefiting from oil wealth, investing in natural gas, and expanding the production of petroleum derivatives, stressing the approach to full self-sufficiency in fuels and moving towards exporting gas oil, within a vision that aims to convert 40% of oil production into transformation industries by 2030.

Mr. Al-Sudani added that the government has proposed integrated energy projects to expand the benefit from oil production in one location, the most important of which is the Artawi field in Basra Governorate, and the accompanying project to desalinate seawater, generate solar energy, in addition to investing in gas, indicating that maximizing the non-oil economy is accompanied by maximizing returns from oil wealth, through expanding refining operations and petrochemical industries.

The following are the highlights of the Prime Minister’s speech during the conference:

The government has moved towards diversifying sources of income horizontally to solve the problems of unemployment and the single economy, towards creating real job opportunities.

Partnership with the private sector was the first window for development, and one opportunity to work with it leads to the creation of many other opportunities.

The government has relied on strategic projects that support all sectors of development and the economy, the most important of which is the “Development Road.”

We have included in the design of the development road lines lines for transporting oil and gas, in addition to communications to achieve the connection between Asia and Europe, and to provide investment opportunities.

We have developed a plan to invest in human capital and develop capabilities and skills to keep pace with technology and techniques, especially with the expansion of artificial intelligence applications.

The electricity sector has become an important developmental and economic nerve, and it can be transformed into a basic gateway to development in Iraq.

Developing the energy transmission and distribution network, and adopting modern and smart technologies, will reduce waste, lower harmful emissions, and enhance sustainable development.

The Ministry of Electricity announced the new economic model for thermal power plants that aims to produce an additional 15,000 megawatts.

The large and important package of energy production projects for gas stations will be announced according to the new model.

Partnership with the private sector is important to save time and effort in confronting climate change and addressing water scarcity in Iraq.

We sought to introduce renewable, clean and alternative energy elements, and we started actual implementation in the field of solar energy.

We have renewable and clean energy projects that will have a production capacity of 4,875 megawatts upon completion.

Purchase of home solar energy systems as part of the Central Bank’s support for the (1 trillion dinars) initiative of loans.

We are proceeding with the electrical connection with the Gulf countries and Turkey, reaching the European Union electricity grid, to achieve diversity and integration in the energy field.

Iraq's global standing is gaining a brighter image in economic growth, reforms and increased levels of cooperation in all energy forums.

Iraq has become a cornerstone of global oil market stability and is on its way to becoming a regional energy hub.

Iraq contributes to the stability of the global oil market by relying on a strong and solid economy. link

************

Mot:  .. the Ironies of Life!!!! 

Mot: .... Bestest Advice Ever  

Iraq Economic News and Points to Ponder Tuesday Evening 1-28-25

Government Advisor Reveals Iraq's Gold Reserves And Hedging Against "Ill-Considered Races" To Buy It

Time: 2025/01/27 19:17:28 Read: 1,410 times   {Economic: Al Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed Iraq’s gold reserves, which are estimated at about 152 tons.

Saleh told {Euphrates News} that: "The gold reserve is undoubtedly an important part of Iraq's foreign exchange reserves, as it contributes to enhancing financial stability and confidence in the national currency. According to the announced data, gold reserves have reached about 152 tons."

He added, "The approximate value of it in the country's foreign investment portfolio is about $14 billion, which constitutes about 13% of the total diversification of that portfolio, which is distributed in standard proportions among other foreign currencies."

Saleh promised that gold is "a safe haven for the balance of the aforementioned investment portfolio, especially when the exchange rates of some currencies or the fluctuation of interest on investing in those currencies are exposed to uncalculated risks in the short term as a result of decline or fluctuation."

He pointed out that "central banks often follow standard guidelines, including our country, in diversifying their investment portfolios in foreign currency, which adopts many criteria, including the density of commercial areas with which they deal in global trade and investment."

Saleh added, "Our country is monitoring this diversification with great precision and with accurate advisory coverage, and it is not necessary to enter into ill-considered races in the yellow metal markets," indicating that "gold often carries its management costs, whether insurance or storage fees in global gold vaults, according to highly accurate mechanisms."

He stressed that "its importance lies in the possibility of issuing bonds when needed, called gold bonds guaranteed by gold," noting that "there are currently buying sprees in the world due to the change in the US administration and the rise in its prices."

According to the statement of Al-Sudani's advisor, "the state of uncertainty surrounding the new US administration has led to a rise in gold prices globally, as gold is a safe haven for investors in times of instability," noting that "despite this, strengthening gold reserves depends on the decisions of the monetary authority and its strategies in maintaining economic stability, and taking the necessary measures at the appropriate time."   LINK

Oil: Iraq's Production Will Reach 7 Million Barrels Per Day And These Are Our New Projects To Enhance Self-Sufficiency

Tuesday 28 January 2025 17:48 | EconomicNumber of readings: 152   Baghdad / NINA / The Ministry of Oil revealed that Iraq's oil production will touch 7 million barrels per day during the next five years, while confirming the completion of new refining projects in the Basra and North refineries, with a total capacity of 220 thousand barrels per day to enhance self-sufficiency in oil derivatives.

Undersecretary of the Ministry of Oil Ali Maaraj said, during his participation in a dialogue session within the activities of the Iraq Energy Conference, which kicked off today, Tuesday, in the capital, Baghdad, that "the ministry seeks to increase production capacity, which will touch 7 million barrels of oil per day during the next five years, as well as address the burning of associated gas and reach zero filler during the same period, and stop importing oil derivatives soon."

He added, "For the first time, Iraq is witnessing the implementation of integrated projects in the oil sector, including oil extraction, refining, and petrochemical industries, as well as electricity generation and transformation industries such as fertilizers. These projects include the "Basra Integrated Project, the Total Project, and other projects in Nasiriyah and Qayyarah."

He explained that "the Ministry of Oil referred" the fifth licensing round, which had been suspended for more than four years, followed by the sixth licensing round and the fifth round supplement, "as well as referring the development of the Artawi oil field, which includes integrated projects including oil extraction, gas processing, seawater desalination, and energy generation through solar stations."

Regarding gas flaring cessation projects, the Undersecretary of the Ministry confirmed that significant progress has been made in the field of treating associated gas, after launching new processing units with a total capacity of 600 million standard cubic feet in the governorates of Basra, Maysan, and Dhi Qar, "noting the suspension of the import of white oil derivatives and gas oil, while working to stop the import of gasoline soon.

The Undersecretary of the Ministry of Oil reiterated the ministry's commitment to preserving the environment and reducing carbon emissions through clean and renewable energy projects, including modernizing refineries and establishing modern facilities according to "Euro 5" and "Euro 4" standards, which contributes to improving the quality of products and reducing pollution.

He continued by saying that "the Ministry of Oil supplies the Ministry of Electricity with all types of derivatives, at a rate of 10,000 liters of gas oil per day," noting that "Iraqi refineries produce 30,000 cubic meters of gas oil, and some products are exported to support the state budget."

He added that "the Ministry of Oil has self-sufficiency in white oil and factories to improve gasoline," indicating that "the production of national refineries currently covers the local need for white oil, black oil and gas oil." / End 5  https://ninanews.com/Website/News/Details?key=1182519

Central Bank Governor Announces Imminent Launch Of Major Initiative To Finance Industrial Projects

Local | 03:43 - 01/28/2025   Mawazine News – Baghdad   The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, the imminent launch of an initiative to finance industrial projects, while indicating that financial stability is no less important than political and security stability.

The Governor of the Central Bank, Ali Al-Alaq, said in a dialogue session during the Iraq Energy Conference: "The initiatives undertaken by the Central Bank represent tools to move the wheel of development and enhance economic stimulus, and they are unconventional policies aimed at supporting the overall economy."

He added that "the Central Bank is one of the global banking institutions that adopt unconventional monetary policies," noting that "the size of the accumulations in the aspects of backwardness in the infrastructure is a major challenge."

He explained that "the Central Bank is concerned with achieving economic stability, especially since energy factors are directly linked to the economic situation through supporting factories, companies, and others."

He pointed out that "the Central Bank intervenes in supporting and financing various projects, including renewable energy projects, whether through direct or indirect support."

He pointed to "the importance of monetary and financial stability," indicating that "it is no less important than political and security stability."

He added that "the Central Bank has launched multiple initiatives to finance real estate and small and medium enterprises, where projects worth 13 trillion dinars have been financed since 2016 until now, which has contributed to the sustainability of the economy, in addition to allocating 1 trillion dinars to encourage citizens and companies to purchase solar energy units."

He added that "there are ongoing arrangements to finance industrial projects in coordination with the Trade Bank of Iraq and the Industrial Bank," indicating that "the liquidity available at the Trade Bank of Iraq will be used to support these projects, in addition to the funds of the Industrial Bank, with the aim of launching a major initiative to finance industrial projects, which is expected to see the light soon."

He stressed that "the Council of Ministers has approved enhancing cooperation between government banks with a financial surplus to finance industrial projects through the Industrial Bank, as it is the competent authority in this field," stressing "the imminent launch of this major initiative." https://www.mawazin.net/Details.aspx?jimare=259115

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Tuesday Evening 1-28-25

Good Evening Dinar Recaps,

MICROSOFT (MSFT) TO BUY TIKTOK? WHAT IT WOULD MEAN FOR THE STOCK

In a rather surprising development for the company, Microsoft (MSFT) has been rumored to be among those in play to buy TikTok. Indeed, the tech company is one of a slew of high-profile names looking to purchase the immensely popular social media platform, as it looks to secure a US buyer.

US President Donald Trump told reporters Monday that the Windows software developer was “nalized, it would certainly have massive implications for the company’s stock.

Microsoft Looking to Buy TikTok, Trump Says: Why It Could be Huge for MSFT

One of the ongoing business world developments that has caught the attention of the general public has been the race to buy TikTok. Indeed, the incredibly popular application was faced with a nationwide banning as the Biden administration left office.

Early into his second term, Donald Trump signed an executive order to delay that ban by 75 days.

Yet, it has not changed the necessity for the social media platform to be purchased. Now, all eyes are on prospective buyers. There is no shortage of interest, but there have also been no concrete offers being made. That may be changing now, as Microsoft (MSFT) may be in line to buy TikTok.

Trump has confirmed Microsoft’s interest while also noting the process is ongoing. He assured that he is in discussion with multiple parties to purchase the app. Moreover, he noted that the situation would likely be resolved over the next 30 days.

The platform is incredibly popular, with over 170 million American users. Yet, ByteDance, its Chinese owner, has not commented on Microsoft, or any companies, acquisition interest. There is no denying that a sale would be huge for anyone.

However, it could be massive for Microsoft in particular. The firm has not been shy about making significant investments in recent years. It purchased OpenAI after the rise of ChatGPT for $13 billion. That has been called some of the “best money ever spent.” 

Similarly, TikTok could have interesting potential as it creates an avenue of entry for the Microsoft developer into the social media sector

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

PRO-CRYPTO SENATOR LUMMIS FILES LEGAL BRIEF SUPPORTING COINBASE AGAINST SEC

Pro-crypto Sen Cynthia Lummis has filed an amicus brief to support the Coinbase against the US SEC

▪️Senator Cynthia Lummis has filed an Amicus Brief for Coinbase in SEC Lawsuit.

▪️The Senator accused the SEC of overstepping its regulatory authorities.

▪️She wants the court to side with Coinbase and define the SEC’s powers.

Senator Cynthia Lummis, a pro-crypto Republican, is intensifying her fight against the US Securities and Exchange Commission (SEC) policies under former Chair Gary Gensler in support of Coinbase Global Inc.

According to The Block, Lummis recently filed a 29-page amicus brief supporting Coinbase’s appeal against the SEC’s lawsuit. Her legal brief accused the regulatory agency of overreaching in its ongoing case, undermining Congress’s authority over digital assets.

The Case Against Coinbase: Lummis Steps In

The SEC’s lawsuit against Coinbase has become a flashpoint in the debate over the agency’s regulatory overreach. The agency accused Coinbase of operating as an unregistered exchange, broker, and clearing agency.

In response, Coinbase filed an appeal, arguing that the SEC’s actions are unjust and unconstitutional. The exchange claimed the lawsuit infringed on Congress’s authority to create laws.

Binance asked for clearer rules on how federal securities laws apply to crypto. The SEC’s refusal to approve the exchange’s request led to calls for court intervention.

As reported by Coinspeaker, the court sided with Coinbase, ordering the SEC to clarify its decision to reject the petition for crypto-specific regulations.

Senator Lummis, a staunch crypto and blockchain technology advocate, backed Coinbase’s position. In her brief, Lummis argued that the SEC’s aggressive approach to crypto registration is legally flawed and fundamentally un-American.

She criticized the agency’s classification of many digital assets as securities under Chair Gary Gensler. This move enforces strict registration rules that do not fit well with how digital assets work.

The Republican Senator criticized the SEC for being secretive and unfair in enforcing rules. She accused the agency of changing securities laws without being open or accountable.

She emphasized that Congress, not the SEC, has the constitutional authority to set the securities and commodities regulation framework.

Lummis emphasized the need for clear and fair laws to guide the future of the crypto industry. She urged the Second Circuit Court to step in and define the limits of the SEC’s authority.

Shifting SEC Stance Under a New Administration

Senator Lummis is gaining influence, especially with her new role as chair of the Senate Banking Committee panel focused on digital assets. She is working on bills to define the SEC’s role and pushing for laws that create a fairer balance for crypto regulation.

This includes one that would have digital asset exchanges register with the US Commodity Futures Trading Commission (CFTC) instead of the SEC. With President Donald Trumpnow in office, Senator Lummis expects the landscape for crypto regulation to undergo significant changes.

President Trump has nominated Paul Atkins, a crypto-friendly former regulator, as the new head of the SEC. Many in the crypto community hope the agency’s stance on digital assets could become more favorable.

This is due to Atkins’s background in supporting less stringent regulations for digital assets. This shift could lead to clearer guidelines and boost confidence in the market.n

@ Newshounds News™

Source:  CoinSpeaker

~~~~~~~~~

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System Collapse Imminent, Plunder Within Unfolds, Brace for Wild Moves in Gold and BTC

System Collapse Imminent, Plunder Within Unfolds, Brace for Wild Moves in Gold and BTC

Daniela Cambone:  1-27-2025

The United States’ global dominance is teetering on the edge, according to Willem Middelkoop, CEO of the Commodity Discovery Fund and author of “The Big Reset: War on Gold and the Financial Endgame.”

In a recent interview with Daniela Cambone on ITM Trading, Middelkoop argues that the current political and economic landscape is indicative of an empire entering its final phase, pointing to increasingly desperate measures and a looming financial reset.

Middelkoop’s assessment is stark. He highlights former President Donald Trump’s controversial proposals, such as the idea of taking over the Panama Canal, as a symptom of this decline. “When you reach the end of an empire, that’s what you’re going to see,” he stated, suggesting that such actions reflect a desperate attempt to cling to power and resources as the U.S. loses its grip on global leadership. These bold, and often ethically questionable, proposals, Middelkoop implies, are not signs of strength, but rather the desperate flailing of a nation facing its twilight.

Beyond political maneuvering, Middelkoop paints a grim picture of the U.S. economic situation. He predicts a sharp rise in gold prices, potentially exceeding $4,000 per ounce, suggesting that the precious metal could be a safe haven for investors weathering the anticipated storm.

This forecast stems from his belief that the U.S. government, under pressure to avoid a complete collapse, will resort to printing more and more money, further devaluing the dollar and fueling inflation. He anticipates that Trump’s potential approach to economic challenges would involve delaying inevitable crises by endlessly injecting liquidity into the system. This tactic, while temporarily alleviating pressure, ultimately exacerbates the underlying instability and fuels the decline.

Middelkoop’s analysis isn’t just about a potential economic downturn; it points to a fundamental shift in the global power structure. He implies that the U.S.’s dominance on the world stage is waning, and its desperate actions are simply delaying the inevitable. The implications are significant: a potential reshuffling of geopolitical alliances, shifts in economic power, and a possible restructuring of the global financial system.

For investors, Middelkoop’s insights serve as a warning, urging them to consider the precarious state of traditional markets and explore alternatives like gold. The predicted surge in gold prices is not merely a prediction, but a symptom of the broader crisis that he believes is unfolding.

While Middelkoop’s views may be considered controversial, they underscore a growing concern among some economists and analysts about the long-term stability of the U.S. empire. Whether or not his predictions come to pass, his analysis offers a thought-provoking perspective on the current global landscape, urging us to consider the possibility of a significant shift in the balance of power and the need to prepare for a potential financial reset.

The conversation surrounding the decline of empires and the future of global power is far from over. However, Middelkoop’s perspective serves as a powerful reminder that even the most dominant forces are not immune to the tides of change.

His analysis highlights the importance of critical thinking and the need to question the status quo as we navigate an increasingly uncertain world.

https://youtu.be/vMs0f-_WCbU

Iraq Economic News and Points to Ponder Tuesday Afternoon 1-28-25

Between Economic Experts’ Warnings And Government Denial, The Value Of The Iraqi Dinar Is At Stake

Buratha News Agency512025-01-28   An informed government source denied, on Tuesday (January 28, 2025), that the Iraqi government has any intention to reduce the value of the dinar against the dollar, despite rumors indicating upcoming measures to confront economic pressures and challenges in the international market.

The source confirmed that "the news about the government's intention to reduce the value of the dinar against the dollar is absolutely incorrect." He added: "The government is working to stabilize the official exchange rate set by the Central Bank, and seeks to control the parallel market. Any change in the exchange rate during the current stage or within the 2025 budget schedules will lead to negative results, and that is why the government is committed to strengthening the current rate."

A Different Economic Vision

In contrast, economist Ziad Al-Hashemi believes that reducing the value of the dinar to 1,450 dinars against the dollar could be a possible step to deal with the repercussions of the economic crises. Al-Hashemi said: “This measure may reduce the financial pressure on the government and reduce the cost of supporting the dinar, but it will negatively affect citizens through deteriorating salaries and rising prices of goods and services.”

Al-Hashemi added: “Devaluing the currency may lead to increased inflation rates due to the loss of confidence in the dinar and the increase in demand for the dollar. This decision, despite its limited positive impact in the short term, will have long-term consequences on the markets and the lives of Iraqi citizens.”

The Political Aspect And Trump's Role

On the political front, political affairs expert Nabil Al-Azzawi pointed out that US President Donald Trump, who is expected to return to the White House, may change his policies towards Iraq. Al-Azzawi explained: “Trump, as an economist, realizes that politics is managed through economics. Despite the previous tense relations, indications are that he will deal cautiously with the Iraqi file.”

Al-Azzawi praised what he described as the "wisdom of Al-Sudani's government" in sparing Iraq political crises and international sanctions, considering that relations between Baghdad and Washington may witness positive development after activating the security agreement and strengthening mutual interests.

Between Denial And Warnings

With conflicting positions between government denial and economic warnings, it seems that the Iraqi government is facing a challenge in maintaining the stability of the currency and avoiding the negative repercussions of any ill-considered action.

While economic pressures are increasing, the Iraqi citizen remains the most affected by any change in financial policies.

This file resolves a delicate balance between government decisions and economic recommendations, to ensure financial stability and protect citizens from the repercussions of any decisions that may affect their daily lives.   https://burathanews.com/arabic/economic/455724

The exchange rate of the dollar against the dinar decreased in Baghdad and Erbil

 01/28/2025  Mawazine News – Economy  The US dollar exchange rates fell in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, on Tuesday, with the closure of the country's stock exchanges.

The dollar prices also fell with the closure of the Al-Kifah and Al-Harithiya stock exchanges, recording 149,900 dinars per 100 dollars, while the prices were 150,350 dinars per 100 dollars this morning.

The selling prices in the exchange sector decreased in the local markets in Baghdad, where the selling price reached 151,000 Iraqi dinars per 100 dollars, while the purchase price reached 149,000 dinars per 100 dollars.

In Erbil, the dollar also recorded a decrease, where the selling price reached 150,000 dinars per 100 dollars, and the purchase price reached 149,900 dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=259126

Al-Sudani: The Government Considers The World Bank An Important Partner In The Reform Process

Politics | 04:12 - 01/28/2025   Mawazine News – Baghdad   Prime Minister Mohammed Shia al-Sudani confirmed today, Tuesday, that the government considers the World Bank an important partner in the reform process.

The Prime Minister's media office stated in a statement received by "Mawazine News" that "Prime Minister Mohammed Shia al-Sudani received today, Tuesday, the Vice President of the World Bank for the Middle East and North Africa, Mr. Osman Dayon, where they discussed ways of cooperation between Iraq and the World Bank, and the progress of development projects in Iraq."

According to the statement, al-Sudani said that "development projects that aim to maximize the non-oil economy and contribute to job creation are a priority for government attention, stressing the continuation of economic reforms that support the private sector, and that the World Bank is called upon to enhance this experience."

He added that "the government considers the World Bank an important partner in the reform process, and that the Ministerial Council for the Economy has approved the program that was approved by the Ministry of Planning in cooperation with the World Bank, especially since the results of the reform steps in the customs and tax fields have begun to appear in a tangible and positive manner."

The Prime Minister's Media Office stated that "the meeting witnessed discussions on financing the old railway rehabilitation project, and financing a number of other development projects, as Dayon pledged to finance the bank for a number of oil, energy and other infrastructure projects. The contribution of the International Finance Corporation (IFC) in financing a number of private sector projects was also discussed."   https://www.mawazin.net/Details.aspx?jimare=259119

Economist: Central Bank Reserves Vary Between Dollars And Gold

2025/01/28 Read: 1,695 times   {Economic: Al Furat News} Economic expert Salah Nouri said today, Tuesday, that the reserve in the Central Bank consists of (the dollar, the euro, and gold priced at the London market price.

Nouri explained in his interview with {Euphrates News} that “the Central Bank’s policy aims to diversify the investment portfolio between the dollar and gold, as this portfolio is managed according to global variables.”

He pointed out that "the Central Bank has investments in the form of debt bonds in the US Treasury with acceptable interest rates."

Nouri continued, saying: “In light of the current international changes and US President Trump’s statements, the Central Bank may turn to gold as a safe haven.”

He added: "According to the Central Bank's announcements, the gold reserve is considered a safe level, in addition to the dollar reserve, which can help maintain economic stability."

Regarding the economic challenges, Nouri pointed out that "the difficulties that Iraq may face are related to the financial policy managed by the Ministry of Finance, as the decline in oil prices, the limitation of the quantity of exports, and the problems with the region lead to a decrease in the ministry's revenues from oil sales in dollars, in addition to the US Federal Reserve's policy that transfers the dollar to the Ministry of Finance."

"These difficulties in financial policy negatively affect the monetary policy followed by the Central Bank of Iraq," Nouri added.   LINK

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 1-28-25

Good Morning Dinar Recaps,

ARIZONA SENATE COMMITTEE APPROVES STRATEGIC BITCOIN RESERVE BILL

Arizona's move to explore digital asset investments, like Bitcoin, signals a growing trend among states to diversify public funds.

▪️Arizona's Senate Finance Committee approved a bill allowing public funds to invest in Bitcoin.

▪️The bill permits investment of up to 10% of public funds in virtual currencies like Bitcoin.

Arizona lawmakers have advanced a bill allowing public funds to invest in Bitcoin and other digital assets, with the state Senate Finance Committee approving the measure in a 5-2 vote on January 27.

Co-sponsored by Wendy Rogers and Jeff Weninger, the proposed legislation, known as SB1025 or “Arizona Strategic Bitcoin Reserve Act,” allows the state to invest up to 10% of public funds, including those held by the state treasurer and retirement systems, in virtual currencies like Bitcoin.

The bill also includes provisions for storing digital asset holdings in a secure segregated account within a potential federal Strategic Bitcoin Reserve if the Secretary of the Treasury establishes a strategic Bitcoin reserve for government holdings.

The US Senate on Monday also confirmed Scott Bessent as Treasury Secretary on a vote of 68 to 29, with bipartisan support. As a supporter of Trump’s economic policies, Bessent opposes a central bank digital currency and is seen as pro-Bitcoin.

Following its passage through the Finance Committee, Arizona’s Bitcoin reserve bill now moves to the Senate Rules Committee, which will set parameters for floor debate and amendments. If approved by the full Senate, the measure will proceed to the House of Representatives.

According to Dennis Porter, CEO and co-founder of the Satoshi Action Fund, Arizona is the first state to have a bill specifically focused on creating a Bitcoin reserve pass through a legislative committee.

If this bill becomes law, Arizona would be the first state to officially invest public funds in Bitcoin.

As of Jan. 27, eleven states have introduced their respective Bitcoin reserve bills, according to Porter. He noted in a separate post, "I can confirm that at least 15 states will introduce ‘Strategic Bitcoin Reserve’ legislation. Maybe even 16."  He also noted, "As a reminder, only 3 months ago this number was zero."
@ Newshounds News™

Source:  CryptoBriefing

~~~~~~~~~

U.S. CRYPTO RESERVES SHOULD INCLUDE XRP TOO: RIPPLE CEO GARLINGHOUSE

▪️Ripple CEO advocates for a U.S. crypto reserve to include Bitcoin and other tokens.

▪️Brad Garlinghouse calls for collaboration, not competition, within the crypto industry.

▪️Bitcoin supporters argue only Bitcoin should be included in the U.S. crypto reserve.

Brad Garlinghouse, the CEO of Ripple, has stirred up the conversation around the U.S. government’s plans to create a national digital asset reserve.

While some Bitcoin supporters argue that only Bitcoin should be included, Garlinghouse believes that the reserve should be more inclusive, featuring Bitcoin alongside other cryptocurrencies like Ripple’s XRP. His bold stance challenges the status quo and raises important questions about the future of digital assets.

Brad Garlinghouse thinks collaboration, rather than competition, is the key to crypto’s success.

A Vision for Crypto’s Growth

Garlinghouse’s main message is that the cryptocurrency industry can thrive more if different cryptocurrencies work together instead of competing against each other. In a recent tweet, he pointed out that focusing on one cryptocurrency over others is not the way forward. He believes success in the industry will come through collaboration, not rivalry.

He stressed that the crypto market should not be a “zero-sum game,” where the success of one digital asset means the failure of another. Garlinghouse, who owns multiple cryptocurrencies, including XRP, Bitcoin, and Ethereum, wants a fairer playing field where all digital assets can succeed.

Why a Diversified Digital Reserve Matters

Garlinghouse believes any government-backed digital asset reserve should be diversified.

“If a government digital asset reserve is created, I believe it should be diversified. It should include more than just one token, whether it’s BTC, XRP, or any other.”

Ripple has been actively working with U.S. regulators to ensure XRP is part of the conversation about digital asset reserves. Garlinghouse believes that having a balanced reserve will help grow the cryptocurrency industry as a whole, benefiting more than just Bitcoin.

Bitcoin Supporters Push Back

Garlinghouse’s suggestion has faced criticism from some Bitcoin supporters. Pierre Rochard, Vice President of Riot Platforms, argues that Bitcoin’s decentralized nature makes it the only suitable cryptocurrency for the reserve. He also believes Ripple is lobbying to get XRP included.

Ryan Selkis, CEO of Messari, shares this viewpoint, stating that Bitcoin’s unique features make it a better fit for the reserve than other cryptocurrencies.

As the U.S. government considers creating a national digital asset reserve, the question remains: will it include only Bitcoin, or will it be open to other cryptocurrencies, as Garlinghouse suggests? This decision could have a big impact on the future of the crypto industry.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

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Economist’s “News and Views” Tuesday 1-28-2025

MARKET WARNING Issued as Valuations Explode Signaling Collapse is THIS CLOSE

Taylor Kenny:  1-28-2025

The stock market is on the brink of collapse as the CAPE ratio signals extreme overvaluation, nearing levels not seen since the dot-com bubble.

With margin debt at record highs and speculation fueling the market, the fallout of the inevitable crash could be devastating.

Learn why this bubble is unsustainable, what history tells us about past crashes, and how you can prepare to protect your wealth today.

CHAPTERS:

00:00 - The Stock Market's Dangerous Overvaluation

00:38 - Historical Context of Market Returns

01:13 - Explaining the CAPE Ratio

 03:00 - The Danger of Overvaluation Today

 03:35 - Debt-Fueled Speculation Driving Growth

 05:08 - The Role of Margin Debt

06:40 - Lessons from the Dot-Com Bubble

 07:06 - The Everything Bubble: What’s Next

 08:12 - How to Prepare for the Crash

https://www.youtube.com/watch?v=zLZ6Mw7_3PI

Central Banks are Selling US Treasuries and Buying Gold Instead

Heresy Financial:  1-27-2025

TIMECODES

00:00 China, Japan & the U.S. Dumping Treasuries

 00:24 U.S. Treasury’s $36 Trillion Debt Explosion

 00:53 The Fed’s Balance Sheet Reversal (Opposite of QE)

02:02 China & Japan Unloading U.S. Debt Holdings

 02:30 Fed’s Share of Total Debt Near Historical Norms

03:24 Central Bank Gold Buys vs. Treasuries

04:49 Why Gold Prices Surged 35% This Year

05:53 Stocks vs. Bonds: S&P Earnings Yield vs. 10-Year

 07:03 Higher Rates & the Crowding-Out Effect

 08:35 The Next Phase of the Long-Term Debt Cycle

09:30 “11th Century Stocks”: Building a 100-Year Portfolio

09:46 Closing Thoughts

https://www.youtube.com/watch?v=Can_5smdMt4

China did Unthinkable to the US and Wiped $1Trillions of the US market: What’s Next?

Fastepo:  1-28-2025

https://www.youtube.com/watch?v=0OINGWWMUIk