KTFA:

Samson:  Russia Adopts Measures To Abandon The Dollar And The Euro

4th August, 2022

The Russian Central Bank intends to speed up the procedures for the gradual abandonment of the use of foreign currencies, and in this context, additional measures will be taken to reduce banking operations in dollars and euros.

This came within a report of the Bank of Russia (the Russian Central Bank) on the development of the financial market in Russia in light of Western sanctions.

The Russian Central Bank said in the report: “In the current conditions, it seems that the gradual abandonment of the use of the currencies of unfriendly countries in the course of the internal and external payments is inevitable. 

The central bank will help speed up the process of reducing the volume of banking operations (in dollars and euros) by introducing additional regulatory measures.”

The Russian Central advises the government to issue directives to state-owned companies on transferring money they own from the currencies of unfriendly countries (the dollar and the euro) to the currencies of other countries.

Since last February, Western countries have begun freezing the foreign assets of Russian banks, as well as limiting the operations of Russian banks linked to the world's major reserve currencies, and the Russian Central indicated that these currencies have become "toxic" for use in international and domestic payment transactions.  LINK

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Samson:  World Bank: Commodity Prices In Iraq Have Risen 7% Over The Past Two Months

4th August, 2022

In a report, the World Bank warned of the danger of continuing high inflation in most low- and middle-income countries, noting that the share of high-income countries, noting that Iraq witnessed a rise of 7.6 in foodstuffs.

Lebanon ranked first globally on the World Bank's index of food price inflation, surpassing Zimbabwe, which came in second, and Venezuela in third place. This indicates the magnitude of the challenges ahead for Lebanon, which suffers from a severe crisis in its food security.

The World Bank warned of the danger of persistent high inflation in most low- and middle-income countries, noting that the share of high-income countries that face high inflation is witnessing a sharp increase in their rates as well, and published a list of the ten countries most affected by inflation and high prices. His statistics for the year 2022 showed that the prices of food and beverages continued to rise in many countries of the Middle East region compared to the same period last year. 

He attributed the direct cause of this reality to the Russian war on Ukraine, as the Middle East and North Africa region relies heavily on the Black Sea region for wheat consumption, stressing that the war in Ukraine “threatens poor countries with a food crisis and overlapping debt.”

While the report indicated that wheat is one of the staple foods in the Middle East and North Africa, the war in Ukraine is causing disruption in the wheat supply chain, causing critical problems in food security in the region. 

As a result, the CPI for food increased significantly in most countries of the region, with Egypt (24.2 percent), Morocco (9.5 percent), Iraq (7.6 percent), Lebanon (216 percent), and (Syria 71 percent). ), Yemen (43 percent), Palestine (8.1 percent), and most of these countries are facing severe wheat shortages.   LINK

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Samson:  Representatives of 40 countries announce their participation in the Russian East Economic Forum

4th August, 2022

Anton Kobyakov, Executive Secretary of the Organizing Committee of the Eastern Economic Forum, said that representatives of more than 40 countries have confirmed their participation in this year's economic event held in the Russian city of Vladivostok.

"This great interest in the East Economic Forum confirms that the forum has become the most popular global business platform for expanding international cooperation in the Asia-Pacific region. We expect the participation of foreign leaders and distinguished guests,"

Ross Congress quoted Kobyakov, who is an advisor to the Russian President, as saying. the level".

The official noted that the event organizers have prepared a rich business program that includes topical issues related to the development of far East the global and regional economy and international cooperation, as well as discussing ways to overcome the economic crisis that threatens the world.

"Today we have already found ourselves in a new reality, our main task, formulated in the main title of the forum "On the way to a multipolar world", is to rebuild business activities, find new support points for economic cooperation and growth," Kobyakov added.

Will be held World Economic Forum from 5 to 8 September in the city of Vladivostok Russian on campus far East federation. Forum activities include more than 70 trade events.   LINK

Samson:  Israel enforces ban on personal cash transactions over $4,360 to curb financial crime

4th August, 2022

Israel enforced a ban on personal cash transactions over $4,400 between private citizens, and a limit of $1,700 on business transactions, according to local media reports.

The rule, which came into effect on August 1, was a part of the Israeli tax authority’s way of fighting organized crime, money laundering, and tax evasion, i24 News reported.

Previously, individuals could transfer up to $14,700 in cash and up to $3,200 for business deals, i24 News reported, citing Israeli outlet Globes. “The goal is to reduce cash fluidity in the market, mainly because crime organizations tend to rely on cash. By limiting the use of it, criminal activity is much harder to carry out,” a tax authority official Tamara Bracha was quoted as saying by The Media Line.

Attorney Uri Goldman, reportedly an expert in tax civil and criminal law, and money laundering according to The Media Line, was quoted in the report as saying: “When the bill passed there were over a million citizens without bank accounts in Israel. The law would prevent them from conducting any business and would, practically, turn 10 percent of the population into criminals.”

The Media Line report clarified that there would be exemptions to the new law including charitable institutions and trade with Palestinians from the West Bank who are not Israeli citizens.

For Israeli-Palestinian trade, large cash deals will reportedly be allowed provided that a detailed report is presented to Israel’s Tax Authority, The Media Line reported.  LINK

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Iraq:

Samson:  Work : Recovering 100 billion dinars from social welfare abusers

4th August, 2022
The Ministry of Labor and Social Affairs announced the recovery of 100 billion dinars from the trespassers on the social care network.

The Director-General of the Department of Social Welfare in the Ministry, Zikra Abdel Rahim, told the "Duty of Frankness" program, which is shown on Al-Iraqiya News, followed by the Iraqi News Agency (INA), that "social care must be temporary," indicating that "we are working on social welfare reform with the participation of international organizations." 

She added, "The reform of social welfare will take a year and a half," stressing that "we recovered 100 billion dinars from those who abused social welfare."

She pointed out that "300,000 families are waiting for financial allocations to be included in social care." LINK

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Samson:  Saraya Al-Salam Official For The “Corrupt”: Your Days Have Become A Number

3rd August, 2022

The General Officer of the Peace Brigades, Tahseen Al-Hamidawi, said Wednesday, that the days of the "corrupt" have become a number.

Al-Hamidawi said in a post followed by Earth News, "The revolutionary Hussein (peace be upon him) is our role model and his great revolution is our school, and we are only students of the reform revolution that our honorable Al-Sadr masters followed."

He added, "O corrupt people, your days have become a number."   LINK