Seeds of Wisdom RV and Economic Updates Thursday Afternoon 1-30-25

Good Afternoon Dinar Recaps,

BRICS: CHINA TRADE SURPLUS HITS $1T AMID US FACEOFF

The last several months have seen geopolitical tensions between the global South and West increase. At the center, new United States president Donald Trump has warned of impending 100% tariffs on the alliance. Yet one of the BRICS leading nations, China, has recently announced a trade surplus of $1 trillion amid its ongoing US faceoff.

The growth of China as a prominent global economy is undeniable. Moreover, it has only reinforced the growing rivalry with the United States that could continue well into 2025. However, the Eastern Asian nation has continued to solidify its position at the forefront of an economic alliance that could be growing in its allure.

China Announces Trade Surplus and Economic Growth as US Targets BRICS

In 2024, Donald Trump won a historic presidential election. The outcome was clear, and he was set to lead his second nonconsecutive term as commander-in-chief. 

A key part of his campaign was ensuring the US dollar stood as the world’s currency. That placed his incoming administration in direct conflict with the BRICS alliance

For much of the last several years, the BRICS bloc has sought to challenge the dominance of the greenback. Moreover, they have even considered the creation of their own economic alliance. A big reason was to create an alternative world order, one that doesn’t so easily rely on the West.

That message caught on, and its influence is what drove Trump to focus on countering it. Yet, recent data has reinforced why it became important to begin with. Indeed, BRICS nation China has announced its trade surplus has hit $1 trillion amid its US faceoff.

That reality reinforces the potential of the Chinese economy to continue to flourish. The US goods trade deficit reached a record $122 billion, according to a Reuters report. Moreover, China has also announced a 5% economic growth figure, which only assures it is a key alternative to Western dominance.

Trump has warned of incoming tariffs, but the data makes that a concerning proclamation. How both sides respond will have monumental geopolitical implications.

To this point, China has not budged on its BRICS-related efforts. Alternatively, the US President has not sought producing discussions. Only time will tell where the faceoff goes in the coming months.

@ Newshounds News™

Source:  Watcher Guru

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ECB CUTS RATES, LAGARDE RULES OUT BITCOIN IN EU RESERVES

The European Central Bank cut interest rates as expected on Thursday and left the option for more easing open. It maintained that inflation in the euro zone is mostly under control, despite concerns about global trade.

ECB Cuts Rate To 2.75%

The European Central Bank made its fifth rate cut since June, lowering the deposit rate from 3.0% to 2.75%. Despite some signs of recovery in recent surveys, the euro zone economy remains weak, and inflation is still slightly above the ECB’s 2% target.

This economic situation made the rate cut necessary to support growth and keep inflation under control. “The disinflation process is well on track,” noted the ECB.

The ECB noted that inflation is still high because wages and prices are adjusting slowly after the past inflation surge. However, wage growth is slowing down as anticipated, and company profits are helping to reduce the impact of inflation.

Policymakers Relieved

Besides, the policymakers were likely relieved after U.S. President Donald Trump’s new administration didn’t impose the feared blanket trade tariffs. However, his threats continue to cast a shadow over the economic outlook. Tariffs often weaken economic growth, and if countries respond with their own tariffs, it can drive up inflation. This could complicate the ECB’s plans to ease interest rates.

Recently, the US Federal Open Market Committee (FOMC) announced its first monetary policy decision of 2025 noting that it will keep interest rates steady at the 4.25% to 4.5% range, which was in line with expectations.

Bitcoin Won’t Enter EU Reserves

Besides, the European Central Bank President Christine Lagarde said that she was confident that Bitcoin would not enter reserves in the European Union.

“There is a view around the table of the Governing Council and most likely the General Council as well that reserves have to be liquid, that reserves have to be secure, that they have to be safe, that they should not be plagued by the suspicion of money laundering or other criminal activities,” Lagarde noted.

As a result, she stated that she is confident Bitcoin will not be included in the reserves of any central bank within the General Council.

Czech Reublic Faces Concerns Over Bitcoin Reserve Proposal

The Czech Republic is also preparing to adopt a Bitcoin reserve, but Finance Minister Zbynek Stanjura has raised concerns about the country’s Bitcoin strategy. In response to Czech National Bank (CNB) Governor’s Bitcoin proposal, the Finance Minister voiced concerns about Bitcoin’s instability and volatility. He argued that Bitcoin is unsuitable as a national reserve due to its highly volatile nature and emphasized that the government cannot override the CNB’s decisions.

@ Newshounds News™

Source: Coinpedia

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Economist’s “News and Views” Thursday 1-30-2025

Gold To Surge Past $3k on This Market Move, Stock Market on Verge of ‘Topping Out’ | Chris Vermeulen

Kitco News:  1-29-2025

The Federal Reserve just held interest rates steady, but US central bank Chair Jerome Powell removed key language about inflation progress, sending stocks tumbling and Treasury yields surging past 4.5%.

 With traders now pushing back rate cut expectations to July, is Powell ignoring warning signs of slowing growth? Meanwhile, Trump is turning up the heat, demanding immediate rate cuts and claiming he knows interest rates better than Powell.

If the Fed holds firm, could the White House start targeting the central bank? At the same time, gold is nearing $3,000, but a liquidity crunch is draining UK vaults as bullion shifts to New York.

Are traders bracing for potential Trump tariffs on gold, or is something bigger at play? Chris Vermeulen, Founder & CIO of The Technical Traders, joins Kitco News to break down these major market moves, the risks ahead, and where the best trades are right now. Key Topics:

Powell removes inflation language – Is the Fed shifting course?

Trump vs. Powell: Political pressure or market necessity?

Stock market topping out – What signals traders should watch

Gold’s liquidity crunch – Is something bigger happening?

Silver’s lagging behind – A buying opportunity or a red flag?

Best trades now – Stocks, gold, or cash?

00:00 Introduction

 01:49 Fed's Strategy and Market Impact

03:31 Trump's Influence on Interest Rates

06:32 AI Sector Analysis

 14:15 Gold and Silver Market Trends

24:21 Best Trades and Investment Strategies

 29:47 Conclusion

https://www.youtube.com/watch?v=SMK84sj2SFA

NEGATIVE RATES ARE COMING. AND THAT MEANS MASSIVE CURRENCY PURCHASING POWER DESTRUCTION.

Greg Mannarino:  1-30-2025

https://www.youtube.com/watch?v=Igli2312ckc

How Rising Bond Yields Impact Stocks and Real Estate

Heresy Financial:  1-29-2025

TIMECODES

 00:00 Why treasury yields haven't been this high since 2007

01:08 Stocks that win and lose when rates rise

03:20 The next long-term cycle of inflationary deleveraging

05:21 Office and multifamily crash in commercial real estate

06:32 Homebuyer sentiment and single-family strength

07:51 Real estate’s mixed outlook sector by sector

 09:44 Building a future-ready portfolio with a long-term strategy

https://www.youtube.com/watch?v=6jcDnWrhed4

Iraq Economic News and Points to Ponder Thursday AM 1-30-25

Iraq Is Under The Danger Of Sanctions: The Smuggling Of The Dollar Threatens The National Economy
 
Jan 26, 2025 Last update: Jan 26, 2025  Independent/- With the approaching end of 2024, economic reports showed an unprecedented rise in smuggling the dollar from Iraq, which raised great concern in international economic and financial circles.
 
The flow of hard currency is accelerated outside the country, with increasing complaints from the involvement of many governmental and private banks in these smuggling operations, 
which threatens to impose economic sanctions on Iraq by international financial institutions.

The escalation of the phenomenon of smuggling of the dollar out of Iraq has led to the pushing of economists and international observers to talk about serious consequences for the Iraqi economy.
 
Where reports indicate that Iraqi banks, whether governmental or private, played a prominent role in smuggling the dollar abroad through informal channels.
 
This smuggling is not limited to the deterioration of the local economy, but rather threatens dangerous consequences that may lead to financial sanctions by the major countries, especially the United States of America, especially in light of the increasing suspicions of money laundering and the support of suspicious activities.
 
The dollar sale rate witnessed a noticeable increase over the past year, to exceed 81 billion dollars, which is an unprecedented number in the history of Iraq.
 
Despite the Iraqi government's attempts to take measures to reduce this phenomenon, the financial conditions do not seem to be under control.
 
On the other hand, the Central Bank of Iraq justifies this increase in selling the dollar as to cover the needs of Iraq from goods and services,
 
but there are warnings that this is a cover for wide smuggling operations aimed at financing countries subject to international sanctions such as Iran and Syria.
 
Fears of US sanctions
 
Under the pressure of international financial institutions, especially the United States, the
 
Central Bank of Iraq
 
     acknowledged the existence of a dollar smuggling crisis and
     announced the suspension of work on the electronic platform that banks were adopting to sell the dollar.

But is this step enough to prevent illegal practices?
 
Experts believe that this decision may be just a formal attempt to dispel international concerns,
especially since
 
many obstacles still hinder the effectiveness of the declared procedures.
 
Economist Dr. Nabil Al -Marsoumi says in press statements that
 
what is happening now is to transfer sales and purchases through correspondence (intermediate) banks, which are banks subject to less control, which facilitates money smuggling and money laundering operations.
 
This transformation of the sale mechanism may increase the complexity of monitoring and increase international anxiety over illegal purposes of these financial transfers.
 
Political complicity and corruption
 
There are also analyzes that indicate that political corruption and collusion between some parties in the Iraqi government and its associated banks may have a major role in this crisis.
 
While the government has pledged to take deterrent measures, the actual implementation on the ground seems to be shy.
 
There are political and financial interests for some parties that run commercial banks, and benefit from these informal networks to smuggle the dollar.
 
In statements to him, Iraqi MP Mustafa Sanad stressed that
 
a large part of this smuggled money goes to Iran,
 
which opens a wide door to talk about Iranian domination of the Iraqi economy and its negative effects on the stability of the country.
 
These facts reflect the size of the challenges facing Iraq in its attempts to combat the smuggling of the dollar and achieve real economic stability.  

Insufficient procedures
 
Despite the efforts made by the government of Iraq, whether through the Central Bank or the Ministry of Finance, the gap between the official exchange rate of the dollar and the black market price is still large.
 
This gap reflects the weak measures taken to combat currency smuggling, and enhances the chances of speculators in the currency market.
 
In highly cruel statements, some experts indicated that the government does not have the true political will to confront this crisis seriously, as the influential forces on the ground, including the major political parties, benefit from the continuation of this corrupt system.
 
Therefore, the process of solving this crisis remains very complicated and needs radical interventions that start from reforming the Iraqi financial system completely.
 
Summary
 
What Iraq is facing today from the crisis of smuggling the dollar is not just a passing economic problem,
 
but rather an alarm bell that may afflict the Iraqi economy and expose it to international financial sanctions.
 
Despite the government's pledges to achieve reforms, the current situation reflects the lack of seriousness in addressing the true roots of the crisis.
 
If things continue this way, Iraq may witness an escalation in international economic pressures,
which will increase the suffering of the Iraqi people and push the country to more financial isolation on the international scene.    https://mustaqila.com/العراق-تحت-خطر-العقوبات-تهريب-الدولار/  

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 1-30-25

Good Morning Dinar Recaps,

PAYPAL’S PYUSD STABLECOIN JOINS CARDANO, ENHANCING BLOCKCHAIN INTEROPERABILITY

PYUSD’s integration into Cardano enhances DeFi liquidity, providing users with new stablecoin options and increasing cross-chain transaction potential.

▪️PYUSD, launched by PayPal, is now available on Cardano via a bridge by Wanchain, expanding cross-chain options.

▪️The stablecoin brings new lending opportunities to Cardano, enabling platforms to offer yield-earning products.

▪️PYUSD’s presence on Cardano boosts liquidity, attracting more participants and enhancing the network's appeal.

Cardano is expanding with the integration of PayPal USD (PYUSD) in its system. PYUSD, a stablecoin that was first available on Solana and Ethereum, is now accessible on Cardano through a bridge created by Wanchain. This provides Cardano blockchain users with new ways to trade, lend, and manage liquidity.

The introduction of PYUSD opens up new opportunities for lending protocols on Cardano. Platforms may adopt the stablecoin to offer yield-earning options, further expanding the lending ecosystem. For traders, having another stablecoin for liquidity and positions adds flexibility and efficiency. PayPal users and blockchain participants with PYUSD can now bridge their assets to Cardano, helping attract more users and making the ecosystem more appealing.

Wanchain’s CEO, Temujin Louie, stated that the integration will provide users with additional options and more autonomy when moving assets between blockchains. With nearly $447 million in Cardano’s DeFi ecosystem, this collaboration will promote stronger connections between networks, fostering new developments and broader blockchain adoption. It will contribute to improving the interaction between diverse systems.

Broader Implications for US Cryptocurrency and Cross-Border Payments

Aside from its impact on Cardano, PYUSD’s integration could also have broader implications for the cryptocurrency market in the United States. Platforms that support PYUSD may gain a competitive edge as users increasingly favor networks offering diverse stablecoin services. This trend could reshape US digital currency platforms, encouraging greater adoption of blockchain-based payment solutions.

The integration also demonstrates the potential of stablecoins like PYUSD to streamline cross-border payments. By significantly reducing transaction times and fees compared to traditional banking systems, stablecoins could set the stage for wider adoption of similar frameworks across other networks.

However, challenges remain. The need for seamless operation and adherence to regulatory frameworks, including features like reversing transactions or locking accounts, is critical. Cross-chain bridges also pose technical challenges, such as security risks, complicated transactions, and ensuring secure and efficient performance. Addressing these issues will require constant attention and strong security measures.

PYUSD’s Market Performance and Cardano’s Expanding Stablecoin Ecosystem

The total supply of PYUSD is currently $484 million, according to data from CoinMarketCap. The stablecoin was launched in August 2023. In September, PayPal began allowing US businesses to directly buy, hold, and sell cryptocurrencies through their accounts. In October, OKX wallet revealed that it now supports the token in its spot market.

PYUSD is an addition to the growing list of stablecoins in the Cardano ecosystem, including DJED, iUSD, MyUSD, USDM, USDC, and USDT, among others. The price of Cardano’s native token, ADA, has increased by more than 7% in the last 24 hours and is currently trading at $0.9542.

The integration of PYUSD into Cardano is a major milestone. It strengthens the foundation for blockchain interoperability, fosters growth in DeFi, and enhances the user experience for both Cardano participants and PYUSD holders.

@ Newshounds News™

Source:  CoinSpeaker

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CRYPTO FOE AND FORMER SEC CHAIR GARY GENSLER RETURNS TO MIT

▪️Gensler will focus on AI, financial technology, and finance.

▪️The announcement comes one week after he stepped down as SEC chair.

▪️Gensler is touted to be one of crypto’s staunchest adversaries in Washington D.C.

One of crypto’s top adversaries is returning to academia.

Former Securities and Exchange Commission Chair Gary Gensler will return to MIT after a controversial four-year stint at the helm of the regulator.

His teaching and research will focus on artificial intelligence, finance, financial technology, and public policy, according to a press release from the prestigious university.

“I’m thrilled to once again collaborate with MIT’s distinguished team of scholars creating a better future for all through artificial intelligence, finance, and technology,” said Gensler in a statement.

The news comes one week after he left the markets watchdog the same day that Donald Trump was inaugurated. Before stepping down, he had become crypto’s l’ennemi commun after spearheading the agency’s crackdown on the industry.

At MIT, Gensler will serve as co-director of the FinTechAI initiative, exploring the intersection of AI and finance.

His new focus on AI comes at a crucial time for the US tech industry. Earlier this week, the market went into freefall after a Chinese artificial intelligence startup dubbed DeepSeek surfaced. The startup brandished an AI assistant that operates at a discount to US-based AI leader OpenAI and its ChatGPT product.

The slump — which wiped out more than $1 trillion from the broader stock market — was also exacerbated by derisking from investors in anticipation of Wednesday’s Federal Open Market Committee meeting by the Federal Reserve.

Gensler was co-director of MIT’s FinTech@CSAIL, and senior advisor to the MIT Media Lab Digital Currency Initiative immediately before he joined the SEC.

Anti-crypto stance

Under Gensler, the SEC pursued a number of lawsuits against top companies like Coinbase, Binance, and Ripple, while also tagging a number of tokens as unregistered securities.

His tough approach wasn’t limited to crypto.

While leading the Commodity Futures Trading Commission from 2009 to 2014, he was also known as an industry hard-hitter — annoying Wall Street and implementing new swap rules in the aftermath of the global financial crash of 2008.

“Those who have known Gensler throughout his regulatory career know he has an imperious attitude that tends to rub industry and fellow policymakers the wrong way,” Sean Tuffy, a regulation and market structure expert, previously told DL News.

“He’s not a warm and fuzzy guy,” Tuffy said.

@ Newshounds News™

Source:  DI News

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“Tidbits From TNT” Thursday Morning 1-20-2025

TNT:

Tishwash:  Economist: The country's financial situation is among the most prosperous years

Economic expert Nabil Al-Marsoumi confirmed that “the country has large cash reserves, which are greater than 100 percent of the volume of the issued currency.”

Al-Marsoumi promised in a statement seen by Al-Masry today, Thursday, that the percentage for a country like Iraq that maintains cash reserves equivalent to between 20 and 40 percent of the volume of the issued currency is positive, indicating that the financial situation is reassuring as it has exceeded 100 percent, and thus the cash reserves in the country are very large, pointing out the importance of the matter, as it represents a firewall in the face of crises that may occur, even if they are caused by a decrease in the price of oil.

Al-Marsoumi added, “The Central Bank can provide a major source of protection for the Iraqi government if it needs some financial supplies by deducting remittances from government banks,” explaining that “the financial situation that the country is experiencing is among the most prosperous years in terms of foreign exchange reserves.”

Al-Marsoumi said, “Iraq ranked third in the Arab world in terms of foreign exchange reserves for the year 2024,” adding, “Despite the slight decrease in foreign exchange reserves in the Central Bank of Iraq from (109,153) billion dollars in 2023 to (106.7) billion dollars in 2024 according to data from the Central Bank of Iraq, as a result of the deduction of remittances to the Iraqi government, the financial situation in Iraq is still cohesive, and it occupies the third place after Saudi Arabia and the Emirates, whose reserves amount to (499) billion dollars for Saudi Arabia and (210) billion dollars as reserves for the Emirates.”  link

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Tishwash:  German Ambassador: We have great cooperation with Iraq in many fields

German Ambassador to Iraq, Christiane Hohmann, confirmed on Wednesday that she would submit a report to her country's government on Iraqi achievements, while pointing out that there is great cooperation with Iraq in many areas.

Hohmann said, in a dialogue session during the Iraq Energy Conference, which was followed by "Al-Eqtisad News", that "one of the problems facing investors is electricity in Iraq," indicating that "the environment in Iraq is different from our country."

She added that "the embassy's work is to prepare a report to our government," noting that "we submitted a report on the achievements in Iraq."

She pointed out that "there are Iraqi businessmen investing in Germany, and not only Germany investing in Iraq," explaining that "Iraq has many German companies working in the electrical sector, and there is a factory in the Najaf Governorate for producing glass and a pharmaceutical factory, and there is great cooperation with German companies."

She stressed, "We want Iraq to succeed on the national and international levels, as Iraq is a young country with young energies and job opportunities must be provided for them," explaining that "everything is based on history and Iraq likes to focus on the past to build the future."

She pointed out that "the presence of embassies here is to provide advice and investments, but the work will remain for the country."  link

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Tishwash:  Al-Sudani calls on the heads of parliamentary blocs to vote on the budget as received from the government without change

Prime Minister Mohammed Shia al-Sudani called on Parliament today, Wednesday, to approve the budget amendment without change.

The Prime Minister's media office said in a statement received by / Today's News / that "Prime Minister Mohammed Shia al-Sudani hosted a meeting at the government palace today, which included the heads of parliamentary blocs, in the presence of the Speaker of Parliament Mahmoud al-Mashhadani, and his deputies Mohsen Ali al-Mandalawi and Shakhwan Abdullah."

The statement added that "the meeting witnessed a review of the progress of the implementation of the government program, and the importance of supporting government steps in completing service and economic projects that have direct contact with citizens' lives, as well as ways to enhance cooperation between the legislative and executive authorities to achieve development goals and priorities."

He continued: "Based on the role of the Federal General Budget Law as a fundamental pillar for implementing the obligations contained in the government program, and in a manner that takes into account the supreme national interest, the latest amendment submitted by the government to the law was discussed."

Al-Sudani stressed "the commitment to this text that addresses the issue of the cost of producing a barrel of oil, which was approved by the Council of Ministers in its 45th session on November 5, and was confirmed in the letter of the government representative in the House of Representatives, No. 15, sent to the House of Representatives on January 23, which is the same text that was voted on within the Parliamentary Finance Committee."

He pointed out "the necessity for the House of Representatives to approve this amendment without change, to complete the development plans, in accordance with the economic interest of Iraq, and the vision adopted by the government program approved by the esteemed House of Representatives."
For their part, the Speaker of the House of Representatives, his deputies, and the heads of the parliamentary blocs expressed their support for "the adoption of the government text sent to amend the Federal Budget Law."

They stressed "supporting the government's plans and programs in a way that achieves the supreme interests of Iraqis everywhere."  link

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Mot: Tah - Dah!! - Things to Learn Today frum ole ""Mot"" of course 

Mot: . that is Awesome - Grammy!!!  Pickles knits a hat

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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Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

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Thank you Dinar Recaps

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

~~~~~~~~~

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

~~~~~~~~~

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

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

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

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

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

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

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

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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

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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/