Iraq Economic News And Points To Ponder Tuesday Evening 6-16-25

A Parliamentary Bloc Calls For A Permanent Meeting Of The Crisis Cell To Address Developments In The Region.

Tuesday, June 17, 2025, | Politics Number of reads: 210  Baghdad / NINA / The parliamentary opposition bloc criticized what it described as the absence of representatives of the blocs representing the governorates from the emergency session to discuss the violation of Iraqi airspace, while demanding a permanent convening of the crisis cell to address any developments in the region.

The head of the bloc, MP Amer Abdul Habbar, said in a press conference on Tuesday, that "the session held to discuss the violation of Iraqi airspace did not achieve quorum, as the number of attendees reached only 75 representatives, and there were no representatives of the Kurdish blocs, the blocs of the central and southern governorates, and the blocs of the western governorates, but rather the presence of only individuals to discuss a sensitive issue that affects the country's sovereignty, security and stability."

He added, "Since last year, we have submitted an official request to form a secret operations room headed by the Commander-in-Chief of the Armed Forces and with the participation of all security agencies and formations, including those affiliated with the security services and those not affiliated, for the necessity of having a national decision that takes into account the interest of Iraq, and spares the country the risk of entering into military and security conflicts." https://ninanews.com/Website/News/Details?Key=1234931

The Dollar Declines In Iraq After An Earlier Rise.

Economy | 06/17/2025  Mawazine News - Baghdad -  The dollar exchange rate witnessed a decline against the dinar in local markets. It fell on the Al-Kifah and Al-Harithiya stock exchanges to 143,250 Iraqi dinars for every $100, while yesterday morning, Monday, it recorded 143,850 dinars for every $100.

Selling prices in exchange shops in local markets in Baghdad also declined, as the selling price reached 144,250 Iraqi dinars for every $100, and the buying price reached 142,250 dinars for every $100.https://www.mawazin.net/Details.aspx?jimare=262691

Gold Temporarily Fell 1.2% After A Sharp Rise.

Tuesday, June 17, 2025 | Economic Number of reads: 177   Baghdad / NINA / Gold prices fell by more than 1% during today's trading, as investors turned to profit-taking after the precious metal approached its highest levels in eight weeks.

Spot gold fell 1.2% to $3,392.86 per ounce, after reaching its highest level since April 22 earlier in the session.  The yellow metal had risen by more than 1% on Friday.  US gold futures fell 1% at settlement, recording $3,417.30 per ounce.

As for the rest of the precious metals, silver prices stabilized at $36.33 per ounce, while platinum rose 2% to $1,252.57, and palladium rose 0.8% to $1,036.10 per ounce. / End https://ninanews.com/Website/News/Details?key=1234872

Brent Crude Futures Rose 1.6%.

Tuesday, June 17, 2025 09:47 | Economic Number of reads: 176  

Baghdad/ NINA / Global oil market prices rose more than 2% today (Tuesday).

Brent crude futures rose $1.17, or 1.6%, to $74.4 a barrel.

US West Texas Intermediate crude rose $1.34, or 1.87%, to $73.11./ End https://ninanews.com/Website/News/Details?key=1234874

Economist: Targeting Oil Facilities Could Raise The Price Of A Barrel To $130.
 
Today 12:18  Information / Baghdad..  International economics professor Nawar Al-Saadi warned on Tuesday that  an escalation in military tensions between Iran and the Zionist entity, with the exchange of strikes shifting from limited scope to direct targeting of vital infrastructure,  could push the world toward one of the most serious economic crises in decades.   

Al-Saadi told Al-Maalouma News Agency that  "the targeting of a gas platform by the Zionist entity and Iran's response by bombing a refinery in Haifa represent a dangerous indicator of the potential outbreak of a strategic assets war in which energy facilities, including oil and gas, become key targets in the conflict." 

He added that  "global energy security will be the first to pay the price," noting that  "the Strait of Hormuz, over which Iran has geographic control, passes more than 25% of global oil exports."   

He explained that  "any actual threat to this vital waterway, whether through closure, bombing, or naval mines, would cause a market shock that could send oil prices to nearly $130 per barrel if navigation were partially disrupted." 

 He explained that  "this price jump will put significant pressure on the economies of importing countries, particularly in Asia and Europe,  and will push toward a new global inflationary wave
that could weaken purchasing power and lead to an economic slowdown that could reach the point of recession if the conflict continues." 

 He pointed out that  "the repercussions of the escalation will impact global supply chains,
particularly in the transportation and heavy industry sectors, due to rising fuel and logistics costs,
which threatens a shortage of basic commodities and a decline in global production." 

He stressed that  "the Gulf states will not be immune from the impact, despite their relative distance from the geography of the confrontation," noting that their energy facilities remain vulnerable to potential missile or electronic attacks, which would deepen the supply crisis. 

As for Iraq, he noted, "The impact will be twofold.
 
While it may benefit in the short term from higher oil prices,
it could face a real problem if the Strait of Hormuz is closed or export routes are disrupted,
particularly given the Ceyhan pipeline's closure and its current reliance on the Gulf as the sole conduit for its oil exports." 

He concluded by saying,  "The transformation of the conflict into a full-scale war on energy infrastructure will not remain confined to its security or political scope, but may cause a global economic shock deeper than that caused by the Ukraine war, with the potential to redraw the map of alliances and centers of economic influence in the world."  End 25/S     
  
https://almaalomah.me/news/101672/economy/اقتصادي:-استهداف-منشآت-النفط-قد-يرفع-سعر-البرميل-إلى-130-دول  

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

Iraq Economic News And Points To Ponder Tuesday Afternoon 6-16-25

Iraq’s Foreign Exchange Reserves Decline
 
Iraq Amr Salem June 17, 2025 The Central Bank of Iraq. Photo: INA  Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) revealed on Tuesday that the country’s foreign exchange reserves declined in May 2025. 
 
Official data released by the CBI indicated that the country’s reserves of foreign exchange reached 126 trillion Iraqi dinars ($96.9 billion) on May 31 compared to 127.32 trillion Iraqi dinars ($97.94 billion) on May 1, Shafaq News reported.
 

Iraq’s foreign exchange reserves declined from 127.51 trillion Iraqi dinars ($98.089 billion) in April.
 
The country’s foreign exchange reserves amounted to 130.34 trillion Iraqi dinars ($100.27 billion) in 2024, down from 145.25 trillion Iraqi dinars ($111.73 billion) in 2023.
 
The director of the Investment Department in the CBI, Mohammed Younis,
revealed earlier in June that foreign reserves surpassed $100 billion.
 
Iraq’s foreign reserves are managed in accordance with thoroughly planned policies
based on
     highly secure standards and
     invested in safe financial products
that yield appropriate returns, according to Younis.
 
The CBI disclosed last month that its
official reserves fell by more than 11 trillion Iraqi dinars ($8.39 billion) in a single year.
 
Foreign reserves provide comprehensive coverage of the monetary base,
as well as financial indicators including trade and foreign obligations.
 
Iraq, the world’s fifth-largest oil producer,
can quickly and effectively increase its foreign exchange reserves
due to consistent international financial flows.   
https://www.iraqinews.com/iraq/iraqs-foreign-exchange-reserves-decline/

 Iraq Seeks A Balance That Avoids Escalation Between Iran And Israel.

June 17, 2025  Baghdad (AFP) - Iranian drones and missiles, as well as Israeli fighter jets, are crossing Iraqi airspace, a situation that is forcing Baghdad to redouble its efforts to maintain a delicate balance and prevent the country from slipping into a new regional conflict.

"There is a great risk that the escalation will spread to Iraq," political analyst Sajjad Jiyad told AFP.

Iraq has long been an arena for regional conflicts, which is currently raising concerns that it could slide into the throes of war between Iran and Israel.

US forces are stationed in Iraq as part of the US-led international coalition fighting ISIS. However, armed Iraqi groups affiliated with the Iranian-led "Axis of Resistance" are also present, and have previously targeted US forces.

During US President Donald Trump's first presidential term in 2020, a US drone killed Major General Qassem Soleimani, commander of the Quds Force of the Iranian Revolutionary Guard Corps, in Baghdad.

Amid the ongoing conflict between Iran and Israel, the country that receives the largest amount of US military aid, attention is turning to these Iraqi armed factions that have so far remained uninvolved.

But for how long?

Political analyst Tamer Badawi believes that "the more Iran struggles to maintain its firepower in the face of Israel, the greater the likelihood of involvement" of pro-Iranian Iraqi armed groups.

He added, "Iran is trying to spare its network collateral damage by keeping its regional allies on alert. However, this position could change."

A senior Iraqi security official told AFP that "everyone" within the pro-Iranian Iraqi camp "is cooperating with the government to keep Iraq out of the conflict."

- American "response"? -

Baghdad has been working for years to reconcile its strong alliance with its neighbor, Iran, a regional heavyweight with which it shares a long border and political, economic, and cultural ties, and its strategic and military partnership with Washington, which opposes Iran's nuclear program.

At dawn on Friday, Israel launched a large-scale attack, targeting military and nuclear sites in Iran in particular. Iran responded hours later with missile and drone strikes against the Jewish state. The exchange of fire between the two countries continues and expands.

The Iraqi government called on Washington to "prevent" Israeli aircraft "from repeatedly violating Iraqi airspace and carrying out attacks" on Iran.

The violation of Iraqi airspace angered pro-Iranian Iraqi factions, who accused US forces in Iraq of allowing it.

While the Secretary-General of the Hezbollah Brigades, Abu Hussein al-Hamidawi, affirmed in a statement on Sunday that Iran "does not need any military support from anyone to deter the criminal Zionist entity," he said, "We are closely monitoring the movements of the American enemy army in the region."

He added, "If America intervenes in the war, we will act directly against its interests and bases spread throughout the region without hesitation."

"We once again call on the Iraqi government to protect US diplomatic missions and military personnel present in the country at the request of the Iraqi government," a US official told AFP.

He added, refusing to reveal his name, "Iraq will be more stable and sovereign through its energy independence and distancing itself from harmful Iranian influence," referring to the import of Iranian gas to power Iraq's power plants.

The official also condemned the "violent and destabilizing" activities carried out by "Iran-backed militias."

Sajad Jiyad believes that “if Iran confirms that the United States (…) supports Israel in its attacks against Iran, this could prompt pro-Iranian elements inside Iraq to target the US embassy or consulate in Erbil, or US forces and the Ain al-Assad base,” where the international coalition is stationed in western Iraq to combat ISIS.

This could lead to a "US response inside Iraq, targeting these pro-Iranian groups, as well as a direct attack from Israel."

- "The Godfather" -

Tensions escalated in Iraq when war broke out in the Gaza Strip following the unprecedented attack launched by Hamas against Israel on October 7, 2023. Iraqi armed factions loyal to Iran claimed responsibility for launching dozens of missiles and drones at sites in Iraq and Syria where US troops were deployed as part of the international coalition. Washington responded by bombing sites belonging to these factions.

These same groups, part of what is known as the "Islamic Resistance in Iraq," claimed responsibility for launching drones at targets in Israel. The Israeli military intercepted most of these drones, before one killed two Israeli soldiers in the occupied Syrian Golan Heights in October 2024.

Tamer Badawi believes that the Iraqi armed factions loyal to Iran "retain the ability to target Israel from western Iraq" or even "target American interests in Jordan."

However, Iraq is preparing to hold parliamentary elections at the end of this year, motivating the political class, including armed factions represented by parliamentarians, to strive to maintain stability.

A leader in the Iraqi armed factions told AFP, "We do not deny that some parties have recently become involved in political activity. It is the nature of battle that preparations are sometimes made, and it is not normal to carry a sword throughout the battle."

He added, "There is a period when the sword must be in its sheath, but that does not mean abandoning the weapon or fearing confrontation."

He pointed out that Iraqi factions consider Iran their "spiritual father," adding, "We will not leave our father to fight the battle alone." He continued, "The United States, France, and Britain stand openly with Israel... so why don't we support the Islamic Republic?" LINK

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 6-17-25

Good Morning Dinar Recaps,

Ripple v. SEC Stalls Again as Appeal Put on Hold — Here’s What’s Holding It Up

The U.S. Securities and Exchange Commission (SEC) has requested to extend the pause in its high-profile legal battle with Ripple Labs, with the next court update scheduled for August 15.

In a joint filing submitted on June 16, both parties asked the Second Circuit Court of Appeals to maintain the current hold, citing an unresolved district court issue—despite reaching a formal settlement agreement last month.

What Began as a Billion-Dollar Dispute Edges Toward Resolution

▪️ This case, launched in 2020, centers around the SEC’s accusation that Ripple illegally raised $1.3 billion through unregistered XRP sales.

▪️ A partial ruling in 2023 provided clarity: XRP sales to retail investors were not securities, but institutional sales were found to have violated securities laws.

▪️ In May 2024, the two sides reached a settlement in principle, finalized in writing on May 8. Under the agreement:

• Ripple will pay $50 million to the SEC.

• The remaining $75 million from a previous penalty will be returned to Ripple.

• The injunction blocking certain Ripple activities would be dissolved.

Settlement Hits a Wall in District Court

▪️ The agreement cannot move forward without district court approval to revise its earlier judgment.

▪️ Both parties submitted a motion requesting an indicative ruling—a legal signal from the court that it would consider modifying the judgment.

▪️ On May 15, the court denied this motion, citing a failure to meet the standard of “exceptional circumstances.”

▪️ In response, the SEC and Ripple filed a renewed motion on June 12, hoping to meet the court’s threshold. No ruling has been issued yet.

Appeals Paused, Legal Uncertainty Grows

▪️ As the legal process stalls, the SEC has asked the appeals court to continue the pause, promising an update by August 15.

▪️ The delay prolongs regulatory uncertainty as crypto firms, investors, and policymakers await further clarity on the application of U.S. securities law to digital assets.

▪️ With billions in crypto markets still in a legal grey area, this case remains a bellwether for how token sales and crypto company operations may be judged going forward.

A Waiting Game With Major Implications

While a path to resolution appears to be forming, the final outcome hinges on court approval of the settlement terms. For now, both the appeals and the Ripple-SEC agreement remain in limbo—with industry-wide consequences hanging in the balance.

@ Newshounds News™
Source: CryptoNews

~~~~~~~~~

Cardano Founder Confirms Full XRP Package in the Works Around Glacier Airdrop, XRP DeFi, and RLUSD

Charles Hoskinson has confirmed that a comprehensive XRP ecosystem integration is underway within the Cardano network, including support for the Glacier Airdrop, XRP-powered DeFi, and possible RLUSD stablecoin adoption.

The announcement signals a major shift toward cross-chain collaboration and potentially heals long-standing tensions between the Cardano and XRP communities.

Glacier Airdrop and XRP Wallet Support on Lace

▪️ A core piece of this initiative is the Glacier Airdrop, now expected in Q4 2025, which will distribute Midnight tokens—used for Cardano’s privacy-focused sidechain—to retail users across multiple chains, including XRP holders.

▪️ Hoskinson emphasized this effort is built around “cooperative economics,” prioritizing community participation over VC allocations.

▪️ The airdrop will reportedly reach over 37 million wallets, marking one of the largest cross-chain community rewards attempted in the blockchain space.

▪️ Additionally, Cardano’s Lace wallet is preparing to add native XRP support, following its successful Bitcoin integration in Lace v1.22 this past April.

“This is part of our effort to turn Lace into a true multi-chain asset manager, bridging Cardano to wider ecosystems,” Hoskinson said.

XRP DeFi Integration in Cardano’s Ecosystem

▪️ The Cardano team is actively developing infrastructure to bring XRP into its DeFi environment, focusing on:

• Cross-chain liquidity pools

• Decentralized exchanges (DEXs)

• Leveraging XRP’s speed and cost-efficiency

▪️ While still early-stage, Hoskinson suggested that Midnight, Cardano’s zero-knowledge sidechain, may play a key role as a DeFi layer for XRP, potentially offering enhanced yield opportunities.

Talks Underway for RLUSD on Cardano

▪️ In what could be a milestone for stablecoin interoperability, Ripple’s RLUSD may soon expand beyond the XRP Ledger, with discussions underway about integrating it into the Cardano network.

▪️ Hoskinson confirmed these conversations are in their early stages but said both parties “see real value” in bringing RLUSD to Cardano’s ecosystem.

• The move would expand RLUSD’s user base

• It would also boost liquidity and stability within Cardano DeFi platforms

Toward a Real XRP–Cardano Partnership

Hoskinson’s comments mark the most direct effort yet to bridge the XRP and Cardano ecosystems, historically viewed as separate and even adversarial within crypto discourse.

▪️ The proposed “XRP package” includes:

• Glacier Airdrop eligibility for XRP holders

• Lace wallet XRP support

• DeFi connectivity via Midnight

• Potential RLUSD cross-chain deployment

Though still in development, this initiative could bring two of crypto’s largest communities closer than ever—and lay the foundation for shared infrastructure, liquidity, and growth.

 @ Newshounds News™
Source: The Crypto Basic   

~~~~~~~~~

What Happens if BRICS Currency Prevails — and Why Is India Worried?

The proposed BRICS currency—championed by China and Russia—is gaining momentum as the alliance prepares for its possible launch. A mock-up bill displayed by President Putin at the last BRICS summit confirmed that plans for a new tender to rival the U.S. dollar are active and advancing.

But as excitement builds, one member is signaling sharp resistance: India. New Delhi has expressed open concerns about the impact such a currency could have on its economy—and its place in the global financial system.

India Breaks Ranks Over De-Dollarization

▪️ India is the only BRICS member to publicly oppose the de-dollarization agenda promoted by China and Russia.

▪️ This comes after former U.S. President Donald Trump warned of potential economic consequences for nations drifting away from the U.S. dollar.

▪️ While Brazil remains cautious, India has made it clear that it favors maintaining ties with Western financial institutions, rather than embracing a BRICS-led currency model.

China’s Leverage and the Belt and Road Factor

▪️ China's Belt and Road Initiative (BRI) plays a pivotal role in its influence over smaller BRICS and Global South nations.

• With billions invested in ports, railways, and infrastructure, Beijing already holds significant financial sway.

• A successful BRICS currency would only solidify China’s economic dominance across Southeast Asia and Africa.

▪️ India is particularly concerned that such a shift would give China further power to shape trade policies across the region, leaving India at a strategic disadvantage.

Rupee Vulnerability and Asymmetrical Trade

▪️ If the BRICS currency succeeds, the Indian rupee could face increased instability, especially if regional trade begins to shift away from dollar benchmarks.

▪️ India-China trade has long been imbalanced, and ongoing border disputes have only heightened mistrust.

• Indian policymakers fear that China could weaponize a BRICS currency to tip economic dynamics further in its favor.

“India recognizes the BRICS currency as a potential vehicle for Chinese dominance—not just economically, but geopolitically,” analysts note.

Modi’s Balancing Act: Contain China, Preserve Western Ties

▪️ Under Prime Minister Narendra Modi, India is pursuing a strategy to limit China’s financial rise while preserving its role within the BRICS framework.

▪️ India views continued alignment with Western financial systems as a buffer against Chinese overreach.

▪️ The government’s stance reflects a broader objective: to maintain balance in Southeast Asia and ensure that no single power—especially China—dictates the region’s financial architecture.

What’s at Stake

▪️ A successful BRICS currency could reshape global finance, potentially undermining the dollar’s dominance.

▪️ But for India, the cost could be economic instability and geopolitical disadvantage.

• A BRICS tender led by China threatens to shift the region’s center of gravity, with India forced into a reactive, rather than proactive, role.

For now, India is pushing back, hoping to reshape the conversation before a BRICS currency becomes reality.

@ Newshounds News™
Source: Watcher.Guru

~~~~~~~~~

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“Tidbits From TNT” Tuesday Morning 6-17-2025

TNT:

Tishwash:  Banking expert: The success of the economy requires national cooperation between the government and the Central Bank.

Banking expert Dr. Nabil Al-Abadi emphasized that "Iraq's economic future begins with reforming its financial system, and this represents the most important step toward building a modern, diversified, and stable Iraqi economy."

Al-Abadi said in a statement seen by Al-Masry on Tuesday, "Economic success requires national cooperation between the government, the Central Bank, banks, the private sector, and the international community."

He explained that "success in this path will have a tremendous multiplier effect on all aspects of the Iraqi economy, as it has contributed to attracting investment, revitalizing the private sector, creating jobs, integrating the informal economy, and combating corruption."

He explained that "the overall strategic importance of this approach lies in supporting economic diversification, as Iraq's economic vision to move away from oil cannot be implemented without a strong banking system that directs funding toward productive sectors—agriculture, industry, tourism, and technology—and contributes to attracting foreign direct investment.   link

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

Tishwash: Parliamentary Finance: The government is determined to prepare the financial budget schedules.

The Parliamentary Finance Committee confirmed on Thursday that the government is working on preparing budget schedules that are in line with the country's financial reality.

Committee member Atwan Al-Atwani said in a statement followed by Lakma News that "the committee discussed with the Prime Minister the preparation of the budget, and stressed the need for it to arrive before the end of the year to give legal status to government spending, both operational and investment."

He added, "The government is determined to prepare budget schedules in line with the current financial reality, given the increase in operating spending and the need for investment spending to finance projects. We look forward to the budget being presented to the House of Representatives in the coming days."

Al-Atwani pointed out that "the government is keen to secure salaries despite the annual financial deficit," noting that "the government is taking serious steps to provide alternatives to financing the budget other than oil to ensure additional resources."  link

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

Tishwash:  Iraq warns of an escalation of the war and the closure of the Strait of Hormuz: Damage will affect the global economy.

 Foreign Minister Fuad Hussein explained that the current conflict between Iran and Israel will cause significant damage to the global economy, especially if it extends to the Strait of Hormuz. During a phone call with his British counterpart, David Lammy, Hussein emphasized that Israel is violating Iraqi airspace and that the international community must take action to prevent these violations.

 Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein received a call from his British counterpart to discuss developments in the regional crisis and ways to de-escalate the situation.

On Monday, June 16, 2025, Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein received a phone call from British Foreign Secretary David Lammy, during which they discussed rapid regional developments and ways to avoid escalation.

During the call, the British minister affirmed his country's support for Iraq's stability and the need to keep it neutral from any attacks or conflicts. He emphasized the importance of controlling the situation and preventing any interference by what he described as "armed groups" in the ongoing conflict. He explained that Britain has not participated in any military operations, and that it is in ongoing contact with France and Germany to coordinate positions, in addition to consulting with the American side on developments in the war.

Minister Lammy also stressed the need to return to the negotiating table regarding the nuclear program, warning of the danger of any attacks on American or British forces deployed in the region, regardless of the perpetrator. He added that the United Kingdom believes that diplomatic solutions are the only way to avoid further escalation, praising Iraq's role in this regard despite the sensitivity of its geographical location and the complexities of the regional situation.

For his part, Mr. Fuad Hussein expressed his gratitude to his British counterpart for this communication, emphasizing the importance of the British role in calming the situation, whether through European tripartite cooperation (Britain, France, and Germany) or through coordination with the United States.

The Foreign Minister pointed out that the continuation of the war would have serious repercussions for the region and the world, explaining that "there are no victors in this war," and that its continuation could cause major economic crises, particularly if it extends to the Strait of Hormuz, which could lead to a global economic crisis.

Fuad Hussein affirmed that Israel continues to violate Iraqi airspace, and that these violations constitute a blatant violation of Iraqi sovereignty and international law. He emphasized the need for the international community to take serious steps to halt these violations and work to contain the conflict.

For his part, Minister Lammy noted that closing the Strait of Hormuz would create a severe economic crisis for Britain and Europe and would lead to higher inflation rates. He emphasized the need for joint action to avoid further deterioration and resolve this crisis through political and diplomatic solutions. link

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

Mot:  .. Yeppers!! -- the 4th is Right around da Corner... Be Aware!!! 

Mot: NOT Funny!! -- Mr. Scott!! -- NOT Funny  

MilitiaMan & Crew: IQD Update-Baghdad Reforms-Taxes Customs ASYCUDA-5 Million Units-Integrating Factories-Exchange Rate

MilitiaMan & Crew:  IQD Update-Baghdad Reforms-Taxes Customs ASYCUDA-5 Million Units-Integrating Factories-Exchange Rate

6-16-2025

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=ed2nsT5IgZA

Iraq Economic News And Points To Ponder Monday Evening 6-16-25

Building Smart Cities Is A Qualitative Leap In The Capital's Reality

June 14, 2025   Governorates - Al-Zaman correspondents   Baghdad Mayor Ammar Musa affirmed the need to move forward with implementing a vision he described as comprehensive, to bring about a qualitative shift in the capital's reality.

This came during his participation in the Iraqi Cities Conference, noting that the Baghdad Municipality has adopted the development of smart services in the city's infrastructure. In a speech during the conference, which was organized by the Federation of Iraqi Chambers of Commerce, in cooperation with the International Chamber of Commerce, and with the participation of the Arab Smart Cities Forum, Musa said, as followed by (Al-Zaman) yesterday, that "Baghdad is committed to urban development paths and sustainable city concepts."

Signing Ceremony

The Mayor of Baghdad sponsored the signing ceremony of the infrastructure contract for 11,000 housing units in the New Sadr City project, in line with the government program's directions. Yesterday's statement referred to (the signing of the infrastructure implementation contract for the construction of 11,000 housing units in the New Sadr City project), indicating that (the signing of the contract comes after successive stages of implementing this project).

The statement added that (more than 30 specialized companies were attracted, and a solid Chinese company with extensive experience in implementing infrastructure was selected), noting that (the Projects Department of the Baghdad Municipality and the Chinese company signed the contract as part of the first step to launch housing projects, within the framework of increasing the number of housing units and expanding them towards the outskirts, with the aim of addressing the housing problem).

Baghdad Municipality is planning to build 20 pedestrian bridges in the capital, distributed among densely populated areas. Baghdad Municipality spokesperson, Uday Al-Jandil, said in a statement yesterday that "the Projects Department will soon implement a plan to maintain 10 pedestrian bridges, 7 of which are in Rusafa and 3 in Karkh," indicating that "maintenance work will begin in the coming days, pursuant to the formation of a specialized committee to determine maintenance needs, which have been referred to a specialized company for rehabilitation and reconstruction."

For its part, the Ministry of Planning discussed the challenges facing the Social Fund for Development projects in Sulaymaniyah Governorate, with the participation of representatives of the World Bank and relevant authorities, to discuss the administrative and technical challenges hindering the implementation of its projects, and to expedite contracting and procurement procedures.

Sulaymaniyah Deputy Governor for Technical Affairs, Ahmed Ali Ahmed, emphasized the importance of the Social Fund for Development in supporting local development efforts, expressing his hope to find solutions to the multiple challenges that he emphasized affect the speed and efficiency of project implementation in Sulaymaniyah, including administrative procedures, technical and financial conditions, as well as economic and environmental conditions.

In turn, the Director of the Social Fund for Development, Hazem Ahmed Saleh, explained that the meeting comes as part of the Fund's commitment to implementing projects and improving services by developing real solutions that expedite work and reactivate stalled contracts. Sabah Jundi Mansour, the Fund's supervisor, stated that the service projects implemented in various areas play an effective role in improving infrastructure.

 In a related development, the Baghdad Water Directorate, affiliated with the Ministry of Construction and Housing, is moving towards establishing additional complexes to improve distribution among the population.

“The maximum energy we produce is in line with the global standard for water consumption per person, which ranges between 250 and 300 liters per day per person, and the amount may increase to 350 liters per citizen per day,” said the director general of the directorate, Hekmat Abdul Majeed Hamid, in a statement followed by Al-Zaman yesterday.

He pointed out that “the amount of water produced is distributed among the population, but the challenge lies in the fairness of distribution and the difference in population densities between the Karkh and Rusafa areas.”

In Najaf, Governor Yousef Gnawi laid the foundation stone for a project to build a 3,000 cubic meter water complex in the city of Al-Mundhir and Al-Ridha, at the site of the Al-Mundhir district water complex. Gnawi said in a speech during the ceremony yesterday that "the project comes within the ongoing efforts to strengthen the water infrastructure in the governorate and improve the level of water services provided to residents," adding that "it contributes to supporting the water system in the region and meeting the needs of citizens and residential complexes located within the aforementioned geographical area."

Warsi Gnawi and the head of the provincial council, Hussein Al-Issawi, laid the foundation stone for the project to establish a training stadium and develop the Kufa Sports Club stadium.

During the ceremony, Gnawi stressed, “The Najaf administration is keen to advance the sports sector by establishing and rehabilitating stadiums and sports facilities,” noting that “these projects constitute part of supporting the sports and youth movement and strengthening its role in society.”

He continued, “The project includes the establishment of a modern training stadium with high technical specifications, in addition to rehabilitating the front facade of the Kufa Sports Club stadium, to a level befitting Najaf sports and its history,” as he put it.

Security Duties

Karbala Police Directorate Media Officer Colonel Engineer Ihsan Youssef Al-Asadi confirmed that "the External Road Protection Department in the Directorate carried out a number of security duties to enhance security and provide protection for pilgrims arriving in Karbala, in accordance with the directives of Governor Nassif Al-Khattabi."

 Al-Asadi explained to Al-Zaman correspondent yesterday that "these measures or duties included securing the three external axes as well as setting up temporary checkpoints, which contributed to the arrest of a number of violators, in addition to securing the pilgrims' cities and organizing the passage of pilgrims in cooperation with traffic checkpoints within the framework of the joint effort to protect lives and property."

Youssef pointed out that "the security forces were able to provide first aid to a number of people injured as a result of a traffic accident, which reflects the concern of these security forces for the humanitarian aspect in addition to the security tasks assigned to them." Al-Asadi stressed the continuation of these security measures to ensure the safety of pilgrims and citizens alike." LINK

Basra Crude Achieves Significant Weekly Gains
Time: 2025/06/14 Reading: 450 times  {Economic: Al Furat News} Basra crude posted significant weekly gains as global oil prices rose amid escalating tensions in the Middle East.

Basra Heavy crude closed the final session on Friday up $4.34 to $70.07, posting weekly gains of $8.24, or 13.33%. 

Basra Medium crude closed the last session up $3.34 to $72.87, posting weekly gains of $8.19, or 12.66%.  Globally, Brent and Texas Intermediate crude oils posted gains on a weekly basis.

Brent crude closed up $4.87 to $74.23, while US crude closed up $4.94 to $72.98.   LINK

Gold Prices Rise In Baghdad And Erbil
Saturday, June 14, 2025, 11:47 AM | Economic Number of reads: 361  Baghdad / NINA / The prices of "foreign and Iraqi" gold witnessed a significant increase in the local markets in the capital, Baghdad, and Erbil, on Saturday morning.

The selling price of one mithqal of 21-karat Gulf, Turkish, and European gold in the wholesale markets on Al-Nahr Street in Baghdad, this morning, reached 700,000 dinars, while the purchase price reached 696,000 dinars.

The selling price of one mithqal of 21-karat Iraqi gold reached 670,000 dinars, while the purchase price reached 666,000 dinars.

As for gold prices in jewelry stores, the selling price of one mithqal of 21-karat Gulf gold ranged between 700,000 and 800,000 dinars, while the selling price of one mithqal of Iraqi gold ranged between 670,000 and 680,000 dinars.

In Erbil, the selling price of a mithqal of 22-karat gold reached about 736,000 dinars, and 21-karat gold reached 703,000 dinars, while 18-karat gold recorded about 602,000 dinars per mithqal. / https://ninanews.com/Website/News/Details?key=1234299

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

The Final Rally Before a Massive Crash & Global Reset: Henrik Zeberg

The Final Rally Before a Massive Crash & Global Reset: Henrik Zeberg

Wealthion:  6-16-2025

Henrik Zeberg joins Maggie Lake to issue a bold and urgent warning: the global economy has already hit the iceberg, and a massive crash may be just months away.

But first, he says, markets could soar in a final liquidity-fueled rally, creating one last chance to prepare before everything changes.

Henrik lays out his thesis for why we’re nearing the end of this business cycle, why central bank and fiscal stimulus might backfire, and why the next crisis could end the U.S. dollar’s dominance in a global monetary reset.

Key topics:

Why Henrik says the housing market has already frozen, and what that means

How $4.5 trillion in global liquidity is fueling a dangerous blow-off top

What could trigger a deflationary bust followed by a stagflation crisis

Will the U.S. dollar lose its global reserve status?

The long-term opportunity Henrik sees in AI, tech, and innovation

Chapters:

00:37 - Zooming Out: The Macro Picture

02:38 - Will the Recession Be Global?

06:28 - Stocks Surging into Trouble?

08:41 - Are Investors Too All-In?

13:34 - What Pops the Blow-Off Top?

15:46 - Does a Two-Tier Economy Buy Time?

 18:30 - Gold’s Rally—Safe Haven or Hype?

20:40 - How High Can Crypto Fly?

26:01 - Recession or Something Darker?

31:00 - Why Commodities Spike in a Slump

32:25 - Can Fiscal Firepower Save Us?

34:11 - Global Teamwork—or Fragmentation?

37:13 - What Keeps You Up at Night?

 40:45 - Where Do You Hide Your Money?

46:55 - Wildcards That Flip the Script

48:05 - Wealthion’s Golden Nugget: The Best Bets for the Next Decade?

49:44 - Can a Doomster Be an Optimist?

https://www.youtube.com/watch?v=kApQRV1oFDY

Why The Fed Faces An 'Almost Impossible Challenge'

Why The Fed Faces An 'Almost Impossible Challenge'

Yahoo Finance  Mon, June 16, 2025   Yahoo Finance Video

On Wednesday, the Federal Reserve will make its decision on interest rates. Advisors Capital Management partner portfolio manager JoAnne Feeney thinks the central bank faces a "really major and almost impossible challenge." Find out what it is in the video above at link below

Video Transcript:

Yeah, so there's there's a really major and almost impossible challenge for the Fed, right?

On the one hand, tariffs to the extent that they are initiated, and we've already had some, and particularly that increase on steel and aluminum which will percolate through lots of products that use steel and aluminum, are clearly going to increase prices.

And that could be a one-time quick increase, but more likely it's a sort of price increase that is taken up by different firms across the economy only gradually, and those percolate through, they propagate into the future.

So you do get an inflation uptick because of tariffs.

How big that is depends on how big the tariffs are and how long they last.

That increase in inflation should prompt the Fed to keep rates higher for longer.

On the other hand, tariffs also reduce economic activity.

They make things more expensive, not just for consumers, but for firms trying to build stuff, trying to expand even restaurants, buy lots of electronics.

They're going to be subject to potentially higher tariffs.

So that economic slowdown is something that would normally confront by reducing interest rates.

So the Fed needs to do two opposite things at the same time, which means they will do nothing, right?

Unless they figure out that one of those forces is considerably larger than the other

They definitely need to keep inflation expectations anchored.

Right now, we think that's the bigger of their two goals, so we think it's very unlikely that the Fed cuts rates anytime soon.

So even if they stay on hold, we will be receiving the summary of economic projections, those are quarterly projections that includes the dot plot where interest rates could be heading.

What are you expecting to see and how could that change from what we saw previously?

TO READ MORE:  https://finance.yahoo.com/video/why-fed-faces-almost-impossible-100008067.html

Economist’s “News and Views” 6-16-2025

Asia Moves Forward to Ditch Dollar: 50% Crash by 2030 Expected?

Daniela Cambone:  6-16-2025

“The U.S. dollar is likely to go down 25 to 50% over the next five years,” says Marko Papic, Chief Strategist at BCA Research.

He tells Daniela Cambone that the driving force behind this decline is less about the loss of reserve currency status and more about fading U.S. economic outperformance. Papic also points out that Trump’s tax cuts bill “does not add to growth in any way, shape, or form” and warns, “Expectations of U.S. growth are overstated, and that means the dollar is way too expensive.”

He further argues that rate cuts are becoming ineffective, as the long end of the yield curve remains unresponsive. “Everyone borrows at the long end of the curve — not the short end. So if the long end doesn’t fall, rate cuts don’t matter.”

What matters now, he stresses, is fiscal and trade policy — not monetary policy. Papic’s advice to investors: “Diversify out of the dollar — diversify out of the U.S.”

Chapters:

 00:00 – Asia moves away from the U.S. dollar

03:31 – Is the dollar’s reserve status at risk?

 05:57 – U.S. fiscal expansion explained

08:37 – Will we see interest rate cuts?

10:15 – The future of the U.S. dollar

12:15 – Where does gold fit in?

13:26 – A new world order: U.S. foreign policy shift

https://www.youtube.com/watch?v=3vD6f_StwFk

The REAL Reason Trump & Elon's Fort Knox Visit Was CANCELLED! - Jim Rickards

Financial Wisdom:  6-16-2025

0:00 - Elon Musk and Trump’s aborted Fort Knox gold audit

1:12 - Why the Fort Knox visit was canceled and the myth of missing gold

2:00 - Geopolitical gold accumulation by nations like China and Russia

3:07 - Importance of cash in portfolios and Warren Buffett’s cash strategy

 4:48 - Tax-deferred compounding and Buffett’s Gen Re acquisition

6:00 - Cash as strategic optionality in market downturns

 7:01 - Robert Shiller’s “Narrative Economics” and the power of market stories

8:43 - Historical example: Narratives during the Great Depression

9:55 - Recent economic narratives: The pivot myth and market behavior

11:20 - Trading lessons: Cognitive bias, stop-loss discipline, and trader psychology

https://www.youtube.com/watch?v=dng_2edqG90

Silent Debt COLLAPSE: $50 Billion in Bond Downgrades Signal a Massive Wave of Defaults Is Incoming

Lena Petrova:  6-15-2025

https://www.youtube.com/watch?v=XZWoDq1HG-I

Iraq Economic News And Points To Ponder Monday Morning 6-16-25

Economist Warns: The Dollar Will Explode If Iraq Enters The War With Israel And Iran - Urgent
 
Economy Yesterday, | 1157  economic hell  Baghdad Today – Baghdad   As regional tensions between Israel and Iran escalate, Iraq stands at a dangerous juncture,
 
the repercussions of which could extend beyond politics and security to the heart of the fragile economy, burdening ordinary citizens who still yearn for a lost stability.

Whenever the drums of war beat in the region,
Iraqi markets are the first to tremble,
as fear turns into a frenzied race for the dollar,
and the dinar becomes a burden rather than a security.
 
In a scene that is repeated with every crisis, anxiety levels rise among traders and citizens, and the dollar begins to rise, as if reflecting the pulse of fear in the streets.
 
As news of the potential for the conflict to expand continues, economists warn of an impending catastrophe,

warning that any Iraqi involvement in the conflict will 
     mercilessly ignite the foreign exchange market and 
     push the prices of basic commodities to levels beyond the reach of ordinary citizens.
 
From this standpoint, the warning issued by economic expert Othman Karim, on Sunday (June 15, 2025), reflects a worrying reality, speaking clearly about the scenarios that could destabilize the dinar and threaten food security, if Iraq becomes embroiled in a war that is not its own, but one that will cost it dearly. 

Karim told Baghdad Today, 
"The rise in the dollar exchange rate immediately after the Israeli strikes is a normal occurrence in the market,
due to the fears of traders and those who own dinars and who resorted to quickly converting their currency into dollars."  He added,
 
"The exchange rate will remain below 150,000 dinars for the time being,
 
but if Iraq enters a state of war, prices 
     will reach more than 160,000 dinars, and 
     may rise further,
     significantly impacting food prices, 
especially if the seaports on which Iraq relies are completely closed."
 
The Middle East is witnessing an unprecedented escalation in tensions between Israel and Iran,
amid an exchange of threats and military strikes that threaten to expand the conflict to neighboring countries.
 
Iraq, due to its geographical location and its intertwined relationships with the parties to the conflict, faces the possibility of slipping into a war, either directly or indirectly, raising widespread popular and economic concerns.

Iraq is a country that relies heavily on imports, particularly food, which arrive via seaports.
 
This makes it vulnerable to fluctuations in regional and international markets.
 
The Iraqi economy also suffers from structural fragility, 
making it highly susceptible to political or security unrest.
 
This was evident in previous crises that led to sharp fluctuations in the dinar's exchange rate against the dollar, directly impacting the prices of goods and services.
 
With recurring geopolitical tensions, Iraqi markets are in a state of constant suspense, 
with the dollar exchange rate being more influenced by sentiment and anxiety than economic data.
 
This makes any military escalation in the region a direct cause of significant fluctuations that could impact citizens' daily lives.     https://baghdadtoday.news/276440-.html  

A "Time Bomb"... The Iraqi Economy Is At Risk Due To Jordanian Banks.
 
Economy   2025-06-10 | 4,697 views  Alsumaria News – Economic  Financial and banking expert Mustafa Hantoush described Jordanian banks' control over remittances as a "time bomb" on Tuesday.

Hantoush told Sumaria News , "The issue of Jordanian and Gulf banks controlling the current currency auction is like a time bomb," noting that
 
"the dollar's valuation has been directed to 50 private Iraqi banks in order to resolve it."  He added,
 
"These foreign banks have joint accounts, controlling more than $50 billion annually, which is a significant amount,"
 
warning of the danger of "these banks monopolizing remittances, even though they are affiliated with foreign investment." 

He stressed the
 
"need to take action,
     either dismantling the banks, which is unacceptable,
     or implementing real instructions that are
          consistent with international models,
          not a model tailored to Iraq and never implemented at all."  
  
https://www.alsumaria.tv/news/economy/529225/قنبلة-موقوتة-الاقتصاد-العراقي-في-خطر-بسبب-مصارف-اردنية

Prime Minister's Advisor: Iraq Is Qualified To Become A Regional Financial Center With Four Strategic Powers.
 
Yesterday, 13:18  Baghdad - INA - Nassar Al-Hajj  The Prime Minister's financial advisor, Mazhar Mohammed Salih, identified four factors that make Iraq a regional financial center on Sunday, stressing that Iraq possesses foreign reserves exceeding $100 billion.
 
“There are four elements of strength that make Iraq a regional financial center, the 
first of which is that it is the second largest producer of crude oil in the Middle East, and 
it has the fourth largest oil reserves in the world, through which it competes to take precedence in the global energy market, through     more production and     achieving financial flows
 
that make it a financial and economic pillar in the economic geography of the Middle East, by achieving large financial surpluses that can be directed to investment in financial infrastructure,” Saleh told the Iraqi News Agency (INA).

He stated that "Iraq has foreign reserves exceeding $100 billion, which provides it with a
     significant financial safety margin, confidence in     monetary stability, and       high financial investment attractiveness."

 He added, "The second factor is Iraq's unique geoeconomic location,  which is a vital corridor linking the world's north to its south.
 
This represents an open economic space between global markets and their financial and commercial attractions, with links that provide important climates for the concentration of regional financial markets,
 
which will revolve around the strategy of the 'development project' linking Europe and the Gulf." He continued:
 
"The third factor is the demographic or human factor, and
 
its foundation is the population boom, as
 
the percentage of the population under the age of thirty is close,
which makes Iraq one of the young nations.

The high percentage of youth (more than 60% under the age of thirty)
will provide a flexible human base that can be trained in
     financial technology,
     banking innovation,
     digital technology, and
     artificial intelligence." He noted that
 
"the government is undertaking the establishment of an important college for artificial intelligence sciences as inputs to the financial labor market and its foundations." He added,
 
"The fourth factor is modernizing and restructuring governance in government-owned banks,
given that they currently control 80% or more of banking activity."

He emphasized that  "the reform campaign being led by the government today for the aforementioned banks aims to transform Iraq into a global financial center after ridding it of the risks of bureaucracy and inefficiency inherited over many decades."

He pointed out "the importance of       electronic payments and the     gradual expansion of the use of bank cards,     point-of-sale (POS),     collection systems, and     smart wallets, which
have helped achieve significant leaps in digital financial inclusion.

This is coupled with the presence of the Iraq Stock Exchange and the Securities Commission,
which operate in a robust, integrated, and promising manner as an infrastructure to establish Iraq as a regional hub for consolidating the country's institutional financial stability."

He explained that  "the legal, executive, and regulatory infrastructure requirements are the key lever for enabling this transformation. These include, for example,
     linking banks to effective electronic payment platforms and
     supporting the development of the current National Data Center to serve as the sovereign digital financial infrastructure that supports Iraq's efforts to transform into a regional financial center."

 He pointed out that  "Iraq's transformation into a regional financial center will be achieved through the 
     collection and integration of financial, banking, and economic data,
     supporting smart monetary and financial policies,
     enabling financial technology and smart data analysis,
     enhancing transparency and governance of financial institutions,
     stimulating the non-banking finance sector, such as microfinance companies,
     reforming the insurance sector, and
     licensing financial technology (Fintech) companies." He pointed out that
 
"the current political, legal, and institutional stability that our country enjoys today,
in a prosperous and solid manner,
is the true basis for financial strength.
 
There is no financial center without a stable and secure political and legal environment."
 
Saleh emphasized the importance of building regional and international partnerships, such as
studying the importance of joining regional payment systems and financial structures of international groups such as the
  G20 or  BRICS, or  partnerships with strong financial centers in   Singapore,  Dubai,   Hong Kong, and others.       https://ina.iq/ar/economie/236406-.html 

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

Seeds of Wisdom RV and Economic Updates Monday Morning 6-16-25

Good Morning Dinar Recaps,

Coinbase & Gemini Secure EU MiCA Licenses Amid Malta–Lux Clash

Two of the crypto industry's biggest names—Coinbase and Gemini—are finalizing regulatory approvals under Europe's new MiCA framework, but their divergent paths have sparked debate across the continent. With Malta’s fast-tracking and Luxembourg’s slower, high-standard approach, the European crypto regulatory landscape is entering a pivotal phase.

Coinbase and Gemini: Two Roads to MiCA Approval

▪️ Coinbase is seeking its EU MiCA license via Luxembourg, a globally respected financial center.
▪️ Gemini, meanwhile, is nearing imminent approval from Malta, which has already licensed OKX and Crypto.com within weeks.
▪️ This divergence is testing European Union regulatory consistency, as MiCA allows member states to issue single-market licenses to crypto firms.

Malta’s Fast-Track Raises Eyebrows

Malta’s rapid approval process is under scrutiny by regulators from other EU countries. Critics argue that a “license shopping” effect could emerge, where firms seek out the most lenient jurisdictions.

▪️ France’s AMF warned of a “regulatory race to the bottom,” pointing to Malta's small regulatory staff.
▪️ Malta’s MFSA defended its speed, saying: “Expedited processing was due to our in-depth understanding acquired over these years.”

Luxembourg's Deliberate Approach

Coinbase has taken a more measured route via Luxembourg, with its MiCA application underway for months.

▪️ A Coinbase representative emphasized Luxembourg’s global financial credibility, calling it “a high-bar, well respected financial centre.”
▪️ The firm plans to hire over 20 new staff in Luxembourg by year-end, expanding its existing 200-person European team.

MiCA Faces Its First Real Test

As the first major MiCA licenses are issued, the EU's ability to maintain regulatory uniformity is being put to the test.

▪️ Central Bank Governor Gabriel Makhlouf previously compared crypto to a Ponzi scheme, warning: “Most of the time when you gamble, you’re actually losing.”
▪️ ESMA is now examining Malta’s process closely, with a report to be shared among member states in the coming weeks.

What's at Stake

With the Gemini MiCA approval and Coinbase EU MiCA license serving as precedent, these cases could define:

• Whether MiCA's promise of harmonization will hold

• How jurisdictional competition might impact investor protections

• The degree of regulatory trust within the EU's internal crypto market

As regulatory friction builds, Europe’s new crypto era is taking shape—and the outcomes of these licenses may define the rules of engagement for years to come.

@ Newshounds News™
Source: Watcher Guru

~~~~~~~~~

Vietnam Passes Landmark Law Defining Digital Assets, Boosting AI and Chip Sectors

Vietnam has taken a major step forward in regulating crypto and accelerating digital innovation. A new law passed by the National Assembly legalizes digital assets and lays the foundation for massive state-backed investment in semiconductors, AI, and digital infrastructure. The move positions Vietnam as one of the first nations with a comprehensive legal framework for digital assets.

Clear Rules for Crypto—And Major Incentives for Tech

▪️ The Law on Digital Technology Industry, passed with 441 out of 445 votes, takes effect January 1, 2026.
▪️ It formally classifies digital assets into three categories: virtual assets, crypto assets, and other digital assets—each with defined property rights under civil law.
▪️ The law ends the regulatory gray zone that pushed Vietnamese crypto startups to relocate abroad.

What the Law Covers

▪️ Virtual assets: Used for exchange or investment, not recognized as currency.
▪️ Crypto assets: Authenticated and transferred via encryption and blockchain.
▪️ Other digital assets: Encompassing non-financial digital goods.
▪️ Securities, fiat tokens, and other financial instruments are excluded from these definitions.

A Homecoming for Crypto Innovation

Vietnam’s crypto ecosystem had seen explosive growth despite unclear laws.

▪️ The country ranked 5th globally in crypto adoption in 2024, per Chainalysis.
▪️ Over $105 billion in blockchain investments entered Vietnam during 2023–24—mostly routed through offshore entities.
▪️ Prime Minister Pham Minh Chinh had previously ordered crypto regulation development to support his 8% GDP growth target.

The new law is designed to bring crypto firms back home by offering both legal certainty and economic incentives.

Vietnam Bets Big on AI, Chips, and Data Centers

Beyond crypto, the legislation signals a bold national tech agenda:

▪️ Aims to grow to 150,000 digital technology enterprises by 2035.
▪️ Offers corporate tax rates as low as 10% for 15 years for qualifying tech firms.
▪️ Waives import duties and land rental fees for digital infrastructure, AI, and semiconductor ventures.
▪️ Projects investing $80M+ in data centers or $160M+ in chip fabs qualify for "special" status—triggering perks like five-year personal tax exemptions for foreign experts.

Vietnam explicitly states its goal to become “an essential link in the global semiconductor supply chain.”

This landmark legislation is more than crypto regulation—it's a full-scale blueprint for transforming Vietnam into a leading digital economy in Asia.

@ Newshounds News™
Source: Decrypt

~~~~~~~~~

BRICS Just Launched a New Energy Alliance Backed by Petro-Yuan Deals

The BRICS energy alliance has officially launched a coordinated system of petro-yuan oil contracts, directly challenging the U.S. dollar’s dominance in global energy markets. With an expanded bloc now controlling 46 million barrels per day of oil production, BRICS is rapidly implementing currency shift mechanisms—including yuan-denominated contracts, rupee-ruble swaps, and local currency financing—marking the most significant threat to U.S. financial hegemony since Bretton Woods.

How BRICS Plus Is Reshaping Global Energy Markets and Challenging Dollar Hegemony

Energy Production Powerhouse Emerges

▪️ The expanded BRICS energy alliance includes Saudi Arabia, Russia, Iran, UAE, and Brazil, jointly producing nearly a quarter of global oil—totaling 46 million barrels per day.

▪️ Gas reserves are even more concentrated, with Russia, Iran, Qatar, Algeria, and UAE now holding two-thirds of global reserves.

▪️ Petro-yuan transactions are rising sharply. In one year, 60% of yuan-denominated crude oil trades took place on the Shanghai Stock Exchange, bypassing the U.S. dollar entirely.

▪️ Strategic energy infrastructure projects like the Power of Siberia 2 pipeline—linking China, Kazakhstan, and Russia—are set to be operational by late 2025, further boosting BRICS' influence.

Payment Revolution Underway

▪️ Energy payments are shifting away from SWIFT and dollar dominance:

• Russia and India now settle in rupee-ruble swaps.

• China and Saudi Arabia process billions through yuan-riyal channels.

• The Riyadh Royal Court has reportedly reviewed the dollar-denominated oil contract system.

▪️ By early 2025, yuan-based oil trades represented 24% of daily Brent crude volume—a significant erosion of dollar exclusivity.

▪️ These developments form a parallel financial infrastructure, operating independently of Western-controlled systems.

Development Bank Financing Shift

▪️ The New Development Bank (NDB), a BRICS financial arm, is aiming for 30% of all lending in local currencies by 2026, up from 22% today.

▪️ The bank maintains a $5 billion annual lending target while reducing its dependence on the U.S. dollar.

▪️ Major projects now financed in local currencies include:

• Nairobi-SGR railway renovation (Kenya)

• Johor Baru port expansion (Malaysia)

▪️ Petro-yuan oil contracts are thus not confined to commodities—they underpin broad development financing as well.

Challenges and Future Implications

▪️ The BRICS bloc still grapples with internal tensions, such as the India-China border dispute and Iran-Saudi regional rivalry.

▪️ A unified BRICS currency remains elusive, requiring full consensus, and members have divergent views on implementation.

▪️ The U.S. dollar still dominates, accounting for 59% of global reserves compared to just 2.48% for the yuan. But that gap is being challenged in practical terms.

▪️ Analysts describe this moment as the “first defeat of the invincible army”—not a full collapse of dollar dominance, but a fundamental shift to multi-currency energy systems.

A New Global Financial Map in the Making

BRICS' energy initiatives effectively transform the dollar from a compulsory tool to an optional one. While the U.S. retains unmatched military spending—$750 billion annually—its monetary control in global trade is no longer absolute.

Through the petro-yuan contracts, local-currency development loans, and alternative payment systems, the BRICS energy alliance offers a functional route for Global South nations to escape Western financial dependency.

This marks the most substantial de-dollarization movement in decades, with real-world energy trade flows and infrastructure spending steadily redesigning the global economic landscape—outside traditional, Western-led frameworks.

@ Newshounds News™
Source: Watcher.Guru

~~~~~~~~~

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“Tidbits from TNT” Monday Morning 6-16-2025

TNT:

Tishwash:  Parliamentary Finance: The government is determined to prepare the financial budget schedules.

The Parliamentary Finance Committee confirmed on Thursday that the government is working on preparing budget schedules that are in line with the country's financial reality.

Committee member Atwan Al-Atwani said in a statement followed by Lakma News that "the committee discussed with the Prime Minister the preparation of the budget, and stressed the need for it to arrive before the end of the year to give legal status to government spending, both operational and investment."

He added, "The government is determined to prepare budget schedules in line with the current financial reality, given the increase in operating spending and the need for investment spending to finance projects. We look forward to the budget being presented to the House of Representatives in the coming days."

Al-Atwani pointed out that "the government is keen to secure salaries despite the annual financial deficit," noting that "the government is taking serious steps to provide alternatives to financing the budget other than oil to ensure additional resources."  link

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

Tishwash:  660 people arrested for manipulating food prices and dollar exchange rates.

 The Ministry of Interior announced on Sunday the arrest of 660 individuals for manipulating food prices and dollar exchange rates.

The head of the Ministry of Interior's Public Relations and Media Department, Brigadier General Muqdad Miri, said in a statement received by Al-Mada: "The Ministry of Interior has launched a major campaign to track down those manipulating food prices and those promoting a rise in the dollar exchange rate against the Iraqi dinar in an attempt to exploit the circumstances the region is experiencing."

He pointed out that "the Anti-Organized Crime Squads were able to arrest 660 people accused of price manipulation."  link

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

Tishwash:  International Chamber of Commerce: Investment companies' activity expands amidst the security situation in Iraq.

The International Chamber of Commerce confirmed on Sunday that investment companies' activity is expanding amidst the security situation in Iraq, while stating that large foreign companies' investments require Iraqi operating companies and staff.

"Iraq is a fertile country for investment, especially with the recent remarkable and successful steps taken by the government to overcome many administrative and legal issues to advance the private sector," Mohsen Al-Hamidawi, head of the International Chamber of Commerce in Iraq, told the Iraqi News Agency (INA).

He added, "The arbitration process between companies will help many companies invest in Iraq because their rights are now guaranteed from a legal and administrative standpoint, and the International Chamber of Commerce will continuously monitor all contracts concluded with companies."

He pointed out that "Iraq lost a lot years ago due to the lack of arbitration. Any problem that arose between companies and the Iraqi government would be referred to Abu Dhabi or France. Now, arbitration is available through the International Chamber of Commerce in Iraq. We have important conditions to protect these companies from procrastination and to secure their rights. Companies are now safer at work and more active in light of the security that Iraq enjoys."

He explained, "During the past two years of the government's tenure, more than 150 companies have signed contracts for oil, gas, and other projects, particularly the Development Road Project. More than a year ago, we officially announced to all companies worldwide, through the International Chamber of Commerce in Paris, the launch of the International Chamber of Commerce in Iraq. This has encouraged companies to enter and invest."

He explained that "large foreign companies that undertake major projects will inevitably need Iraqi companies and to employ Iraqi workers. This will encourage more small and large Iraqi companies to invest with foreign companies and take on what are called 'subcontractors' or major contracts. Iraqi companies, whether large or small, are not deficient and will deal with this event well  link

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Mot:  .. Thank Goodness for Sam and Woody

Mot:  Bear Warning

Iraq Economic News And Points To Ponder Sunday Afternoon 6-15-25

Currency Market: Dollar Exchange Rates Drop In Local Markets Today

Buratha News Agency1942025-06-15   The dollar exchange rate fell on the Al-Kifah and Al-Harithiya stock exchanges, recording 14.4400 Iraqi dinars for every $100. On Saturday morning, it reached 145,000 dinars for every $100. Selling prices in the local exchange markets in Baghdad declined, with the selling price reaching 145,500 Iraqi dinars for every $100, and the buying price reaching 143,500 dinars for every $100.   https://burathanews.com/arabic/economic/461443

The US reduced its oil imports from Iraq last week.
Sunday, June 15, 2025 | Economic Number of reads: 326   Baghdad / NINA / The US Energy Information Administration announced on Sunday that the United States reduced its oil imports from Iraq during the past week, while it did not import any quantities from Saudi Arabia and Libya.

The administration stated in a table that "the average US imports of crude oil during the past week from 8 major countries amounted to 5.456 million barrels per day, a decrease of 35 thousand barrels per day compared to the previous week, which amounted to 5.491 million barrels per day."

It added that "the average of Iraq's oil exports to America amounted to 84 thousand barrels per day, a decrease of 130 thousand barrels per day compared to the previous week, which amounted to 214 thousand barrels per day."

The administration indicated that "the largest oil revenues to America during the past week came from Canada, followed by Mexico, Brazil, Ecuador, and then Nigeria."

According to the table, "the amount of US imports of crude oil continued from Venezuela and Colombia, while it did not import any quantities from Saudi Arabia or Libya." / End https://ninanews.com/Website/News/Details?key=1234518

Iraq Is Among The Top 10 Countries In The World In Terms Of Natural Resources.

Money and Business   Economy News – Baghdad   Iraq ranked ninth globally among the best natural resources, according to Visual Capitalist, a company that focuses on topics including markets, technology, and energy.

In a report seen by Shafaq News Agency, the company stated that natural resources form the backbone of modern manufacturing and are essential to the production of everything around us.

She added that 10 countries, including Iraq, dominate the global natural resources landscape, each holding vast reserves important for various industries.

The report indicated that Iraq ranked ninth among the world's countries in terms of the availability of natural resources, estimated at $16 trillion, which include oil and phosphate rocks.

Globally, according to the company, Russia leads the world in natural resources, with an estimated value of $75 trillion, including coal, natural gas, oil, gold, timber, and rare earth minerals. The United States is second, with a value of $45 trillion, including coal, timber, natural gas, gold, and copper.

She continued, "Saudi Arabia came in third with a value of $34 trillion, which includes oil and timber, followed by Canada in fourth place with a value of $33 trillion, which includes oil, uranium, timber, natural gas, and phosphates, followed by Iran in fifth place with a value of $27 trillion, which includes oil and natural gas."

The company noted in its report that China came in sixth place with a value of $23 trillion, which includes coal, rare earth minerals, and timber. Brazil came in seventh place with a value of $22 trillion, which includes gold, uranium, iron, timber, and oil.

She continued, "Australia came in eighth place with a value of $20 trillion, which includes coal, timber, copper, iron ore, gold, and uranium. Iraq came in ninth place, and Venezuela came in tenth place with a value of $14 trillion, which includes iron, natural gas, and oil."

Iraq was ranked among the top ten countries with the most valuable natural resource reserves, in terms of the total estimated value over the past four years.

According to a 2024 Statista report, natural resources are the raw inputs used to make everything we use, from intermediate goods to final products. These resources are found in the ground among reserves that have not yet been extracted.

According to Statista estimates, Russia ranked first, with its natural resource reserves estimated at $75 trillion. This amount includes coal, oil, natural gas, gold, timber, and rare earth minerals.

The United States came in second, with an estimated value of $45 trillion in natural resources, nearly 90% of which is timber and coal.

Iraq ranked ninth, boasting $15.9 trillion in natural resources. Its desert terrain contains oil, natural gas, phosphates, and sulfur, according to the website.

Iraq is OPEC's second-largest producer of crude oil and the world's fifth-largest producer of proven crude oil reserves. Iraq relies on crude oil exports for a significant portion of its revenue. https://economy-news.net/content.php?id=56300

Gold Prices Rise In Iraq

Economy | 01:58 - 06/15/2025  Mawazine News - Baghdad -  Gold prices witnessed a rise in local markets on Sunday.  The price of a 21-karat gold mithqal reached 695,000 dinars, while the price of an 18-karat gold mithqal reached 595,000 dinars, the price of a 22-karat gold mithqal reached 728,000 dinars, and finally the price of a 24-karat gold mithqal reached 795,000 dinars.
https://www.mawazin.net/Details.aspx?jimare=262609

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