More News, Rumors and Opinions Sunday Evening 8-21-2022
TNT:
CandyKisses:With the participation of Iraq.. Egypt will host tomorrow a summit of a number of Middle Eastern leaders
Baghdad - Mawazine News
A diplomatic source at the Egyptian Foreign Ministry confirmed today, Sunday, that Egypt will host tomorrow, Monday, a summit that brings together the leaders of Egypt, Iraq, Jordan, the UAE and Qatar, in the Egyptian city of El Alamein.
The diplomatic source said, "The Egyptian city of El Alamein will host tomorrow, Monday, a summit gathering the leaders of Egypt, Iraq, Jordan, the UAE and Qatar."
He indicated that the summit will be at a high level, and will discuss economic, energy, politics and security issues in the region.
A short while ago, the President of the United Arab Emirates, Mohammed bin Zayed, arrived at the airport in El Alamein, Egypt, where he was received by Egyptian President Abdel Fattah El-Sisi.
According to the Egyptian presidency statement, the two leaders exchanged visions and views on international issues, regional security and the current situation in the Arab region.
The two sides also discussed bilateral cooperation paths and the many promising opportunities to expand its horizons to broader levels that enhance the strategic partnership between the two countries, especially in the economic and development fields that support their aspirations towards achieving sustainable development, progress and prosperity for their peoples.
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Tishwash: The Central Bank of Iraq withdraws the license of a financial mediation company and confiscates its insurances
The Central Bank of Iraq announced, on Sunday, the withdrawal of the license of a mediation company for the sale and purchase of foreign currencies for violating instructions and confiscating its insurance amounting to 50 million dinars.
The bank said in a statement received by Shafaq News Agency, that "in view of the violation of the (Al Habib) company to mediate for the sale and purchase of foreign currencies with the provisions of the instructions regulating the work of mediation companies and the purchase of foreign currencies, it was decided to withdraw the company's license."
He added, "It was also decided to confiscate its deposits of 50 million dinars in the bank in favor of this bank," calling on the Ministry of Commerce to "cancel the certificate of incorporation granted to the company, in addition to writing off the company's name from the records and providing the Central Bank with the certified liquidation letter."
The Central Bank of Iraq was established as an independent body under its law issued on March 6, 2004, after it was linked to the Ministry of Finance before this date. It is responsible for maintaining price stability and implementing monetary policy. It supervises 25 commercial banks, 26 private banks, and 28 Islamic banks. In addition to 16 foreign banks, as well as 6 financial institutions and 31 money transfer companies. link
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Courtesy of Dinar Guru
Frank26 [Iraq boots-on-the-ground TV report] The CBI back on the news...they met with the United States Ambassador ...discussed money laundering efforts. That's interesting for a program rate? It's pretty obvious why he's discussing this and how Iraq has improved. And this is why the cash and gold reserves are so strong in our country of Iraq. Also they talked about the political scene that is still in turmoil...
Tivon Comex 589, Basel 3 Compliant, ISO-20022 - These three things should always be the deciding factor as to who you decide to bank with. I don't care about the title or name of the bank. If they are not operating within those parameters then you should not put your money in any of those banks...Then...from there - How much insurance can they cover...Then...interest... Remember banks can be foreclosed on too. [NOTE: Speak with your financial advisor at the appropriate time to build the best financial stack for your unique situation.]
Markets Push Back the Powell Pivot - Ep 835
Peter Schiff: 8-21-2022
4-week winning streak for S&P comes to an end. · Investors chasing momentum. · Not-as-weak is the new strong. · Mortgage applications at their lowest since aftermath of dot com bubble.
China’s Economic Collapse Just Got Worse
Graham Stephen: 8-21-2022
China is experiencing an economic downturn as they lower interest rates, spending decreases, and property values decline - here's what this means for everyone watching -
In response to slowing growth, a declining property market, and falling demand…China did the unthinkable, by LOWERING INTEREST RATES to help stimulate MORE growth, while - at the same time - pumping $60 BILLION DOLLARS into the financial system as a way to incentivize lending.
However, they maintain that “the government won’t roll out massive stimulus measures or flood the financial system with too much new money, and would instead aim for stable prices, and “a relatively good economic performance."
Now, in an ORDINARY MARKET, such a rate cut and injection of money would be seen as a BULLISH sign for the economy - but, in THIS case - it’s seen as a REALLY NEGATIVE signal, as yet another failing effort to keep the economy afloat just a little while longer.
In just the last few days, 5 state owned companies were removed from the US Market citing “high administrative burden and costs” as the reason for their decision - however, the timing happened to come just months after the SEC flagged those companies for failing to meet United State’s auditing standards - leading to the assumption that - maybe more businesses are about to follow.
After all, China responded by saying that “they are reluctant to let overseas regulators inspect local accounting firms due to national security concerns.” - and, with the clock ticking, either China must comply, or over $1 Trillion Dollars could be de-listed from our US-based markets.