Iraq Economic News and Points To Ponder Monday Evening 7-1-24
The Kurdistan Region Deposits 70 Billion Dinars In Non-Oil Revenues Into The Federal Government’s Account
July 1, 2024 Members of the security forces wearing masks walk in front of the citadel of Erbil, a touristic landmark usually busy with visitors, in the capital of the northern Iraqi Kurdish autonomous region, during a period of a global pandemic of the coronavirus Covid-19 on March 15, 2020. (Photo by Safin HAMID / AFP)
Erbil/Iraq Observer Today, Monday, the Ministry of Finance in the Kurdistan Region announced the deposit of more than 70 billion dinars in the federal government’s account as non-oil revenues for the month of March.
According to a statement issued by the ministry, it explained that
“the Kurdistan Regional Government sent non-oil revenues for the month of March to the Iraqi Ministry of Finance.” The statement also indicated that
“the region deposited in the Erbil branch of the Central Bank of Iraq the amount of 70 billion, 130 million and 250 thousand dinars as the federal treasury’s share of non-oil revenues for the same month.”
This announcement comes within the framework of continued cooperation between the Kurdistan Region and the federal government regarding achieving financial and economic stability in Iraq https://observeriraq.net/إقليم-كردستان-يودع-70-مليار-دينار-كإيراد/
Iraq Signs The Singapore Convention To Attract Foreign Investments
Amr Salem July 1, 2024 Part of the Iraqi capital, Baghdad. Photo: Shafaq News
Baghdad (IraqiNews.com) – Iraq hailed the ratification of the United Nations Convention on International Settlement Agreements Resulting from Mediation (Singapore Convention) as a historic step toward attracting foreign investors.
Iraq’s National Investment Commission (NIC) and the United Nations Development Programme (UNDP), under the auspices of Prime Minister Mohammed Shia Al-Sudani, conducted a high-profile mediation meeting on Wednesday, according to a statement released by UNDP.
The Prime Minister’s Advisor, Nasser Al-Asadi, reaffirmed the government’s unwavering focus on foreign investment.
“We are continuing our progressive reforms and working to make Iraq an appealing and secure investment destination,” Al-Asadi explained.
“Iraq’s admission to the Singapore Convention is a big step forward, strengthening our efforts to develop a dynamic corporate sector,” the Iraqi official stated.
“We will continue our efforts to boost investment, eradicate corruption, and provide job opportunities for the youth,” Al-Asadi elaborated.
Iraq took a huge stride forward on April 17, 2024, when it signed the Singapore Convention, which makes it easier to implement mediated settlement agreements, paving the way for more international trade and commerce between countries.
The conference was attended by the European Union (EU) Ambassador to Iraq, Thomas Seiler, who confirmed that the EU is collaborating with the Iraqi government and UNDP to assist Iraq in becoming a secure and appealing destination for foreign investment, including from the 27 EU Member States.
https://www.iraqinews.com/iraq/iraq-signs-the-singapore-convention-to-attract-foreign-investments/
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Provoking Thoughts and Points To Ponder On Adversity:
Forget the times of your distress, but never forget what they taught you. - Herbert Gasser
You can learn little from victory. You can learn everything from defeat. - Christy Mathewson
A smooth sea never made a skillful mariner. - English proverb
When a man is pushed, tormented, defeated, he has a chance to learn something; he has been put on his wits ... he has gained facts, learned his ignorance, is cured of the insanity of conceit, has got moderation and real skill. - Ralph Waldo Emerson
From their errors and mistakes, the wise and good learn wisdom for the future. - Plutarch
By becoming more unhappy, we sometimes learn how to be less so. - Madame Swetchine
Every experience, however bitter, has its lesson, and to focus one's attention on the lesson helps one overcome the bitterness. - Edward Howard Griggs
A good scare is worth more to a man than good advice. - Edgar Watson Howe
It is from the level of calamities ... that we learn impressive and useful lessons. - William Makepeace Thackeray
When I have listened to my mistakes, I have grown. - Hugh Prather
We only think when we are confronted with a problem. - John Dewey
http://famousquotesandauthors.com/topics/adversity_quotes.html