News, Rumors and Opinions Sunday PM 6-4-2023
KTFA:
Clare: The House of Representatives holds a session on Tuesday to vote on the budget
June 4, 2023
Baghdad / Obelisk Al-Hadath: A parliamentary source stated that the House of Representatives will set today the date for the voting session on the draft financial budget law.
The source stated, "The parliament presidency will determine, after about two hours, the holding of the voting session on the budget next Tuesday at exactly one o'clock in the afternoon."
Informed sources reported that the coordination framework and the State Administration Coalition agreed to pass the draft financial budget law in the middle of this week. LINK
Clare: In detail... Riyadh signs a contract with Baghdad to establish the "largest mall" in Iraq
6/04/2023 Baghdad
Today, Sunday, the Saudi ambassador to Baghdad, Abdulaziz Al-Shammari, announced the signing of a contract with Iraq to establish a "huge project" near Baghdad International Airport.
Al-Shammari revealed, in his interview with the official Iraqi News Agency, about "the signing of a contract for a huge investment project of up to one billion dollars in the Rafil area near the airport, which is the (Baghdad Avenue) project."
He explained, "It will be a distinguished project and a surprise to all Iraqis, and it is the largest mall in Iraq, and it will include cafes and restaurants with large areas and commercial business offices for major Iraqi companies, in addition to 4,000 apartments and 2,500 residential villas."
Al-Shammari added, "The contract was signed between the two countries, and the project will be in addition to Iraq." LINK
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Clare: Parliamentary Finance announces that agreements have been reached regarding the share of the Kurdistan region in the budget
6/04/2023
A member of the Parliamentary Finance Committee, Mueen Al-Kadhimi, announced that a consensus had been reached regarding the paragraph for exporting the oil of the Kurdistan region in the current year’s budget.
Al-Kazemi said, in a statement, followed by Al-Mutallaa, today, Sunday, that: “The negotiator of the Shiite framework reached a consensus with the Democratic Party on the constitutional mechanism for exporting oil from the region.” And he added, “Dialogues are currently ongoing between the two parties regarding Article 14 of the budget, which consists of 12 paragraphs, 6 of which are agreed upon within the government text, and 6 other paragraphs are being discussed because the region considers them interference in its affairs.”
Al-Kadhimi added, "Discussions are underway regarding the management of border crossings between the federal government and the region, and preventing the extraction of oil from the Nineveh and Kirkuk fields by Kurdistan."
The member of the Parliamentary Finance pointed out that “matters and disagreements will reach compromises during the next week, warning that the Finance Committee will make amendments to the budget and complete the transfers schedule and refer it to Parliament for a vote on it.” LINK
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Courtesy of Dinar Guru
Frank26 Article: "The Central Bank of / NINA /: Issuing a new denomination for the national currency is not on our agenda at present" Quote: "The issuance of cash currency for the category of twenty thousand dinars, is not in the agenda of the Central Bank of Iraq now." NOTICE THEY SAY THE NEW DENOMINATIONS FOR THE NATIONAL CURRENCY NOT FOR THE 3 ZERO DENOMINATIONS NOR FOR A SANCTIONED PROGRAM RATE!!! A 20K NOTE IS NOT PART OF THE MONETARY REFORM THEREFORE IT IS NOT NEEDED AT ALL.
Militia Man We believe the Central Bank is fully ready for the Forex system because that's what they'll be using to do international currencies. Let's see how that happens and plays out because the retail side of it is when we are affected by it, not when the central banks are having their time with the currency...Our Forex opens somewhere around 5ish on Sunday. Hopefully we see something. We never know. Obviously anything can happen. We just go with what the information that we have in writing and some of our banking sources and financial resources...we glean...
(Alert). MARKETS A LOOK AHEAD: The MAJOR BANKS ARE IN BIG TROUBLE... DERIVATIVES.
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