Zig’s Place Chatroom News Early Friday AM 9-3-21

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Butterfly   https://ninanews.com/Website/News/Details?key=925169

Iraq participates in the Conference of the Board of Governors of the Islamic Development Bank

Fri 03, Sep 2021 .................. Iraq participated in the conference of the Board of Governors of the Islamic Development Bank in Tashkent, the capital of Uzbekistan.

The Iraqi delegation was headed by the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mikheib.

A statement by the Central Bank of Iraq stated today, Friday: “The conference discussed a number of issues related to development in Islamic countries and the challenges that faced their economies in the wake of most of them being exposed to the repercussions of the Corona pandemic.”

The conferees dealt with enhancing the role of the Islamic Development Bank in assisting member states in a sustainable recovery from the ongoing impact of the emerging Corona pandemic, and efforts to combat poverty, build resilience and create job opportunities for young people.

The conference also discussed implementing the national development plans of member states, stimulating green economic growth and mobilizing additional resources for development.

According to the statement, the Governor of the Central Bank reviewed the government's plans in the short and medium terms to revive the economy and achieve the goals stated in the government program, and the role of the Central Bank in creating job opportunities through its multiple development initiatives.

butterfly   https://www.iraq-businessnews.com/2021/09/03/iraq-may-buy-drones-from-turkey/ .............. Iraq may Buy Drones from Turkey ... .......... Iraq is said to be interested in buying unmanned aerial vehicles (UAVs), attack helicopters and military hardware from Turkey.

Defense Minister Juma Anad Saadoun is quoted as saying that Iraq has already reached agreement with Turkey to purchase Bayraktar TB2 drones, made by Turkey's Baykar Defence.

According to Breaking Defense, any decision on the purchase of T129 helicopters may be hampered by the need to obtain export permits from the United States.   (Sources: Daily Sabah, Anadolu Agency, Breaking Defense)

Sheila   @butterfly more good postings -- thank you!

butterfly  sheila I am really having to look to find them .

Sheila   @butterfly hoping that's good sign when news becomes hard to find

butterfly   sheila Here ya go, this is a long one, sorry to post the whole article but I find it important.

butterfly  Finance Minister: The white paper seeks to fundamentally change the nature of the Iraqi economy

2021-09-03 | 04:34   Finance Minister - The white paper seeks to fundamentally change the nature of the Iraqi economyFinance Minister Ali Abdul-Amir Allawi confirmed that the white paper seeks to fundamentally change the nature of the Iraqi economy.

Allawi said in an article published by the Guardian newspaper, “Estimates indicate that poverty rates in Iraq doubled in 2020 due in large part to declining revenues Iraq We cannot allow the livelihoods of millions of families to continue to be dictated by the unpredictable fluctuations of the oil market.”

He explained that “correcting this will require policies and investments that enable oil and gas producing countries such as IraqFrom directing capital and labor to productive industries in the future and contribute to empowering and stimulating the role of the private sector.

In fact, this was one of the main motives behind the economic reform white paper, which seeks to fundamentally change the nature of the Iraqi economy, allow the private sector to play a greater role, and reduce the dependence ofIraq on oil exports and a commitment to economic renewal focused on environmentally sound policies and technologies.

Allawi continued that “Iraq It can play an important role by taking advantage of the huge potential to produce and provide clean energy, as oil and gas production accounts for up to 40% of the total greenhouse gas emissions and the continuous burning of natural gas in oil wells, which necessitates our commitment to reduce gas flaring and investing it,” stressing that “increasing energy efficiency will have other benefits as well,

and this means that we will not need to spend huge amounts to increase the general level of electricity provision, and that the deficit Iraq Providing enough electricity to meet demand has cost the country nearly $120 billion over the past seven years.

butterfly   He pointed out that “increasing energy efficiency will allow the creation of job opportunities in areas such as the construction and maintenance of energy-efficient green buildings, as a recently published International Energy Agency report showed that for every million dollars invested in energy efficiency, up to 30 jobs are created, and that this matter extremely important in a country like Iraqwhich is witnessing large population increases that will need job opportunities in the future.”

“The worst potential solar sites happen in Iraq On up to 60% of direct energy from the sun, and that this percentage is higher than the best locations in Germany But nevertheless, the solar power plants it built Germany To date, it provides two and a half times more electricity to all oil, gas and hydroelectric plants operating in Iraqcombined.

” And he noted “and let him be able toIraq To move towards clean energy, it needs the financial resources, expertise and policies that will transform its economy in an equitable and affordable manner, and this requires international support. Otherwise, heading towards net zero carbon dioxide emissions by 2050 will be a distant dream.”    alsumaria.tv

butterfly   After that long article, the last paragraph says it all.

butterfly   Oil prices were mixed, on Friday, after a strong rise in the previous session due to the weakness of the dollar and the decline in US crude inventories, and was headed for modest weekly gains before the release of the highly anticipated US monthly jobs report.

Brent crude futures rose 13 cents, or 0.2%, to $73.16 a barrel at 0619 GMT, while US West Texas Intermediate crude futures were down 4 cents, or 0.1%, at $69.95 a barrel.

Both benchmark oil contracts jumped 2% on Thursday, putting WTI on course for a 1.8% gain this week, while Brent crude is headed for a 0.6% weekly gain.

This week's increase also came amid a weaker US dollar, which makes oil cheaper in other currencies, and the fallout from Hurricane Ida.

About 1.7 million barrels per day of oil production remains closed in the US Gulf of Mexico, sources told Reuters, as damage to helicopters and fuel depots slowed the return of crews to offshore platforms.

To offset the supply impact, oil demand has been curbed as extended power outages slowed the reopening of shuttered refineries in Louisiana.

Demand is likely to be in focus after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively called OPEC+, this week stuck to their plan to add 400,000 barrels per day to the market over the next few months amid a significant rally. https://burathanews.com/arabic/economic/399077

butterfly   LINK

Iraq and Saudi Arabia sign a memorandum of understanding regarding customs work ....... Director of the General Authority for Customs, Shaker Mahmoud Al-Zubaidi, said that Iraq held talks and signed a memorandum of understanding with the Saudi side regarding the movement of trade and the expansion of customs work.

Al-Haya said in a statement received by Alsumaria News, "Al-Zubaidi confirmed the discussion of dealing with the complex procedures related to the import licence, and the agreement to open the Jamima border crossing and expand the import movement in other ports linking the two countries."

The statement pointed out that "the delegation that participated in the agreement was represented by the Minister of Transport andMinistry of FinanceRepresented by the head of the Customs Authority.”

Al-Zubaidi pointed out that “there is a tendency and determination to open the horizons of commercial cooperation with the Gulf countries to strengthen the economic movement and maximize the financial resources of Iraq.”

Butterfly   https://ninanews.com/Website/News/Details?Key=925290 ...

US Treasury imposes sanctions on 4 Iranian nationals ………  Fri 03, Sep 2021 23:43 ...... The US Treasury has imposed sanctions on 4 Iranian citizens it claims are linked to intelligence.

According to a statement by the Treasury, the list of sanctions included Ali Reza Farahani, Mahmoud Khazin, Amid Nouri and Kia Sadeghi.

And US Secretary of State, Anthony Blinken, confirmed, earlier, that hundreds of US sanctions on Iran, including those imposed by the previous administration headed by Donald Trump, may continue even if the nuclear agreement is returned to work.

butterfly   Iraq Britain Business Council (IBBC) member AA for Global Trading and Commercial Agencies has announced that it has started importing the products of Laboratoires Gilbert of France to Iraq, as per an agreement signed in 2020.

Based in France's Normandy region, Laboratoires Gilbert manufactures and markets 30 brands and 1,900 references such as Physiodose, Physiolac, Dolodent, Luc and Léa, Comptoir Aroma, Algotherm, Laino, Hei Poa, and Comptoir du Bain among others.

Currently, AA is the commercial agent of several brands including Metrex Research (USA), Laboratoires Gilbert (France) and Palmer's (USA).

(Source: IBBC) https://www.iraq-businessnews.com/2021/09/03/aa-to-distribute-laboratoires-gilbert-in-iraq/

Sheila   Words to heed. Keep your mouth shut about your windfall: Estate Planning

My buddy Dave was a single guy living at home with his father and working in the family business.

He knew that he would inherit a fortune once his sickly father died.   Dave wanted two things:

• to learn how to invest his inheritance and,  • to find a wife to share his fortune.

One evening at an investment meeting, he spotted the most beautiful woman he had ever seen. Her natural beauty took his breath away:

"I may look like just an ordinary man," he said to her, "but in just a few years, my father will die, and I'll inherit 20 million dollars."

Impressed, the woman obtained his business card.  Two weeks later, she became his stepmother.

butterfly   @sheila did you see what I posted for you?

Sheila   butterfly just checked into chat. was working all afternoon. will scroll up. give me a minute. and thank you.  Read your articles. I don't see anything specific at this moment. Might you repost or give me a hint?

butterfly  sheila Here ya go, this is a long one, sorry to post the whole article but I find it important.

Sheila  butterfly thx!   Banking, drones, oh my!

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