Zig’s Place Chatroom News Tuesday AM 11-30-21
Zig’s Place Chatroom News Tuesday AM 11-30-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
Butterfly Oil is coming down and they are counting the votes. Happy about the oil coming down, scratching head about the votes, going into December and they are wondering who the hell is going to be in charge.
butterfly The Omicron Strain Raises The Price Of Gold
Economic Last Update 11/30/2021 | 2:12 PM Gold prices rose today, Tuesday, after concerns about the impact of the “Omicron” strain of the Corona virus, which may be resistant to vaccines, supported the attractiveness of gold as a safe haven.
Spot gold rose 0.42% to $1,792.18 an ounce, while US gold futures rose 0.43% to $1,792.90 an ounce.
The head of Moderna Pharmaceuticals told the Financial Times that it is unlikely that vaccines against the Corona virus will be as effective against the new mutant “Omicron” as they are against the previous mutant, “Delta”. https://almaalomah.me/2021/11/30/567726/
Zig All opinions are welcome here if done without attacking other members....attack a viewpoint and not the person giving it....simple though some can not do that.....
butterfly 29th November 2021 in Construction & Engineering In Iraq
From the World Bank: Iraq: Rising Fiscal Risks, Water Scarcity, and Climate Change Threaten Gradual Recovery from Pandemic
Iraq's economic outlook has improved on the back of the recovery of global oil markets, with its GDP projected to grow from 2.6% in 2021 to over 6% in 2022-23. Nevertheless, without accelerated economic reform, unforeseen domestic and fiscal risks could cause reverses.
The World Bank's new Iraq Economic Monitor titled "The Slippery Road to Economic Recovery" finds the country's economic rebound partly aided by government moves to act on previously recommended reforms. Public transfers, as well as schemes aimed at increasing credit to businesses, had a small stimulus effect, leading to GDP growth of 0.9% in the first half of 2021, in contrast to a 16% contraction a year earlier.
Higher oil prices turned a fiscal balance of 2.2% in GDP surplus, boosting central bank reserves to almost US$55 billion (15 months of imports) in the first half of 2021. Recovery was to some extent curtailed by severe water shortages and widespread electricity cuts following historically low rainfall, impacting the agricultural and industrial sectors. Healthcare services also deteriorated amid a growing number of cases of COVID-19's Delta variant.
GDP from oil, still the main driver of medium-term growth in Iraq, is expected to rise in step with the gradual phase-out of OPEC+ production quotas, while non-oil GDP growth is forecast to remain under 3% in 2021-2023. Upstream risks could include oil shocks, droughts, and new COVID-19 variants.
butterfly Potential problems could arise from fiscal and other risks, such as growing budget rigidities, the low clearance of arrears and the large exposure of state-owned banks and the central bank to sovereign debt, and the effect of public investment management constraints on public services. Progress on regional economic integration and security, however, could provide new momentum for growth and diversification.
Of key importance to Iraq is dealing with water scarcity and the degradation of water quality in its rivers and groundwater. The new Economic Monitor's special focus titled "Overcoming Water Scarcity and Climate Change Impacts," calls for dramatic sector reforms to capture opportunities and manage risks. A fall of 20% in Iraq's water supply and the related declining crop yields that could accompany climate change, could reduce real GDP in Iraq by up to 4%, or US$6.6 billion.
"Investing in climate smart water management practices provides a concrete opportunity to spur inclusive and green economic growth and development," said Saroj Kumar Jha, World Bank Mashreq Regional Director. "Without action, water constraints will lead to large losses across multiple sectors of the economy and come to affect more and more vulnerable people."
Iraq's water sector relies on highly centralized institutional architecture that creates coordination issues in resource management and service delivery. The sector suffers from a lack of financing (given existing constraints) as well as weak private sector participation and limited revenues from users. The Monitor identifies areas where reforms could improve Iraq's resilience to water scarcity and climate change-efficiency, productivity, and demand management policies; institutional solutions; and regional solutions.
Click here to download the full report. https://documents1.worldbank.org/curated/en/981071637593726857/pdf/Iraq-Economic-Monitor-The-Slippery-Road-to-Economic-Recovery.pdf (Source: World Bank)
butterfly A study expects the global economy to grow if global warming does not exceed 1.5 degrees Celsius
- 11 Minutes Ago A new study predicts that the global economy will grow by 2 percent by the end of the century if the world can keep global warming below 1.5 degrees Celsius.
According to Bloomberg News Agency, the researchers noted that most current predictions indicate that the world will exceed the 1.5 degrees Celsius limit for several years or decades.
To get back to the 1.5-degree mark and avoid permanent damage to ecosystems, carbon dioxide must be removed from the atmosphere on a large scale, a process known as net zero.
Study co-author Christoph Bertram, a climate impact researcher at the Potsdam Institute in Germany, said:
"In addition to protecting the planet, achieving net zero emissions, by completely eliminating greenhouse gases from human activity, will have long-term economic benefits."
In fact, global GDP could grow by more than 2 per cent, according to Laurent Drouet, another co-author and senior scientist at the CMCC climate research group in Italy.
Druitt said the calculations used in the study do not include the economic damage from climate change, which would be more severe above 1.5 degrees.
butterfly The study warned that to stay below this limit, countries must strengthen plans to cut emissions under the Paris climate agreement.
The researchers added that the current pledges indicate slow steps in this regard, which must be significantly intensified.
According to the study, fundamentally changing the transport sector to support decarbonization is the key to success in this field.
The new study was published in the scientific journal Nature Climate Change.
Middle east https://rawabetcenter.com/archives/138685
Butterfly Kuwait confirms receiving $1.47 billion in war compensation from Iraq
2021-11-30 07:45
Kuwait confirms receiving 1.47 billion in war compensation from IraqShafaq News/ The National Bank of Kuwait reported today, Tuesday, that Kuwait has received $1.47 billion in war compensation from Iraq.
The bank said that “Kuwait received compensation payments from the United Nations Committee from Iraq for the war, amounting to 1.47 billion dollars (0.4 billion dinars) in April, July and October of this year.”
He added, “The remaining amount is 629 million dollars for final payment.” shafaq.com
Butterfly The rise in the price of the dollar with the closure of Baghdad markets
2021-11-30 07:39 The rise in the price of the dollar with the closure of Baghdad marketsShafaq News/ The exchange rates of the dollar rose against the Iraqi dinar, today, Tuesday, with the closure of the main stock exchange in Baghdad.
Shafak News Agency correspondent said that the Al-Kifah and Al-Harithiya Central Stock Exchanges closed in Baghdad at 147,900 Iraqi dinars, for 100 US dollars.
While the prices recorded this morning 147,800 Iraqi dinars per 100 dollars.
Our correspondent indicated that the buying and selling prices rose in the banking shops in the local markets in Baghdad, where the selling price amounted to 148,500 Iraqi dinars, while the purchase prices amounted to 147,500 dinars per 100 US dollars. shafaq.com
Butterfly Muqtada al-Sadr comments on the final results in three words
2021-11-30 07:34 Muqtada al-Sadr comments on the final results in three wordsShafaq News/ The leader of the Sadrist movement, Muqtada al-Sadr, commented on the final results of the early parliamentary elections that took place on October 10, on Tuesday.
“Thank you to the Electoral Commission,” Al-Sadr said in a very brief tweet on Twitter.
Earlier on Tuesday, the commission announced the final results of the early legislative elections, which were led by the Sadrist bloc with 73 seats, while the “Progress” coalition led by Muhammad al-Halbousi won 37 seats, and the State of Law coalition led by Nuri al-Maliki won 33 seats.
The Kurdistan Democratic Party came fourth with 31 seats, while the Al-Fateh Alliance led by the Secretary-General of Badr Organization Hadi Al-Amiri came fifth, with 17 seats, and the Kurdistan Alliance came sixth with 17 seats, with a difference in the number of votes between it and the Al-Fateh Alliance.
The “Azm” coalition won 14 seats, the Extension Alliance won 9 seats, and the New Generation Movement got 9 seats, while the “Canon Sunrise” got 5 seats, the National Contract got 4 seats, the state forces also 4, and the masses of our identity 3 seats, and the movement Three seats were also settled for Islah, the Iraq Turkmen Front one seat, while 16 political parties won one seat each, in addition to the independents winning 43 seats.
The Sadrist movement is seeking to form a majority government, not a consensual one, for the first time since 2005, but its efforts are being rejected by other Shiite forces that have lost many of their seats and reject the election results. shafaq.com
butterfly After 40 days of polling, the announcement of the final results of the Iraqi parliamentary elections
2021-11-30 07:30 After 40 days of polling the announcement of the final results of the Iraqi parliamentary electionsShafaq News/ The Independent High Electoral Commission announced on Tuesday the final results of the early legislative elections that took place on October 10.
The Chairman of the Board of Commissioners, Jalil Adnan Khalaf, said in a press conference followed by Shafak News Agency, “After the judiciary completed all the appeals, it made a change in the preliminary results, and it was one seat each in: Baghdad, Nineveh, Erbil, Kirkuk, and Basra,” to include the total of five seats that were changed .
He added that the total number of voters reached more than 22 million, adding that the number of voters reached more than nine million.
Khalaf explained that the number of voters in the elections amounted to 44 percent of the total number of voters.
The members of the IHEC read out the names of the 320 election winners in all governorates of Iraq, including the Kurdistan Region.
The Sadrist bloc topped the final election results by obtaining 73 seats, while the “Progress” coalition led by Muhammad al-Halbousi won 37 seats, and the State of Law coalition led by Nuri al-Maliki won 33 seats.
butterfly The Kurdistan Democratic Party came fourth with 31 seats, while the Al-Fateh Alliance led by the Secretary-General of Badr Organization Hadi Al-Amiri came fifth, with 17 seats, and the Kurdistan Alliance came sixth with 17 seats, with a difference in the number of votes between it and the Al-Fateh Alliance.
The “Azm” coalition won 14 seats, the Extension Alliance won 9 seats, and the New Generation Movement got 9 seats, while the “Canon Sunrise” got 5 seats, the National Contract got 4 seats, the state forces also 4, and the masses of our identity 3 seats, and the movement Three seats were also settled for Islah, the Iraq Turkmen Front one seat, while 16 political parties won one seat each, in addition to the independents winning 43 seats. shafaq.com
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