Iraq Economic News And Points To Ponder Saturday Afternoon 5-10-25

The Central Bank Records A Decline In Net Foreign Assets

Saturday, May 10, 2025, Economics Number of reads: 159 Baghdad / NINA / The Central Bank of Iraq revealed a decrease in its net foreign assets, in addition to a slight decrease in domestic debt for January 2025.

The bank said in a report on financial and monetary indicators in Iraq, today: "The net foreign assets of the Central Bank for January 2025 amounted to 128.97 trillion dinars, a decrease of 1.41% compared to December of last year, which amounted to 130.180 trillion dinars, and a decrease from January of last year, which amounted to 140.77 trillion dinars."

He added: "The domestic public debt for January of this year decreased slightly to reach 80.4 trillion dinars, compared to December of last year, which amounted to 80.5 trillion dinars, and an increase from January of last year, which amounted to 73.25 trillion dinars."

According to the report, "the decline in debt for the month of January of this year is due to the decline in debt owed to the Ministry of Finance," noting that "bonds and discounted treasury transfers have settled at the Central Bank, which means that the government has paid part of its financial obligations." /End   https://ninanews.com/Website/News/Details?key=1225959

Minister Of Finance: ASYCUDA System Implemented In 15 Customs Centers, Increasing Revenues By More Than 59 Billion Dinars

Finance Minister Taif Sami announced that the General Authority of Customs has begun implementing the ASYCUDA customs automation system in 15 customs centers across Iraq, noting a significant increase in customs revenues after the implementation of the system.

Sami explained, in a statement on Saturday, May 10, 2025, that the centers covered include: Air Cargo Customs, Dry Port, Baghdad International Airport Terminal, Grand Welcome Square Customs, Trebil, Safwan, Arar, Middle Umm Qasr, Southern Umm Qasr, Kirkuk Airport, Zurbatiyah, Al-Mundhiriya, Mandali, Al-Sheeb, and Shalamcheh.

She explained that customs revenues before implementing the system amounted to three hundred and seventy-five billion, six hundred and seventy-five million, seven hundred and thirty-two thousand, three hundred and sixty dinars, while after implementation they increased to four hundred and thirty-five billion, four hundred and twenty-one million, six hundred and seventy-two thousand, eight hundred and five dinars, an increase of more than fifty-nine billion dinars.
https://www.radionawa.com/all-detail.aspx?jimare=41810

Basra Crude Records Weekly Gains

Saturday, May 10, 2025, | EconomicNumber of reads: 156   Baghdad / NINA / Basra Heavy and Medium crude oil recorded significant weekly gains of more than 2% with the return of oil prices rising in global markets.

Basra Heavy crude closed in its last session, yesterday, Friday, with an increase of $2.16 to reach $61.16, recording weekly gains of $1.24, equivalent to 2.07%.

Basra Medium crude closed in its last session with an increase of $2.16 as well, reaching $64.31, recording weekly gains of $1.24, or 1.97%.

Global oil prices rose $1.07, or 1.7%, to achieve weekly gains of 4%, or one dollar per barrel, amid expectations that trade talks between the United States and China will be positive for oil, as tariffs at their current maximum levels keep recession risks high. /End https://ninanews.com/Website/News/Details?key=1225887

The International Development Bank Launches The "Arab Tourist Card"

Banks   Economy News – Baghdad   The International Development Bank announced on Saturday the launch of the "Arab Tourist Card," in partnership with the Visit Iraq platform, to facilitate financial transactions for Arab tourists in Iraq.

A statement by the bank, seen by Al-Eqtisad News, stated that "the International Development Bank launched the "Arab Tourist Card" in partnership with the official platform Visit Iraq to facilitate financial transactions for Arab tourists in Iraq."

The statement added that "the launch of the "Arab Tourist Card" in Iraq was carried out in partnership between the International Development Bank and the national platform Visit Iraq to support tourism and enhance digital financial services.

" The statement continued, "the International Development Bank was chosen to exclusively offer the "Arab Tourist Card" in cooperation with the official platform Visit Iraq to support tourism and enhance digital financial services for visitors."  https://economy-news.net/content.php?id=55318

The Dollar Rose Slightly Against The Dinar In Baghdad And Erbil

Economy | 10/05/2025  Mawazine News – Baghdad  The US dollar exchange rate rose on Saturday morning in both Baghdad and Erbil markets.

It rose on the Al-Kifah and Al-Harithiya stock exchanges to 142,400 Iraqi dinars for every $100, while last Thursday it recorded 142,000 dinars for every $100.

Selling prices also rose in exchange shops in local markets in Baghdad, where the selling price reached 143,500 Iraqi dinars for every $100, and the buying price reached 141,500 dinars for every $100.

In Erbil, the dollar also rose, where the selling price reached 142,550 dinars for every $100, and the buying price reached 142,200 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=261245

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 5-10-25

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US SENATORS CRITICIZE DEMOCRATS FOR ‘PARTISAN POLITICS’ AMID STABLECOINS BILL FAILURE

In a negative development for the U.S. crypto industry, the highly anticipated stablecoins legislation failed to advance in the U.S. Senate after not receiving enough support from Senate Democrats. Several Republican senators have slammed the Democrats for putting “partisan politics above policy.”

Democrats Block Stablecoins Bill

On Thursday, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act failed to pass the cloture vote in the Senate. Only 49 senators voted to advance the bill, falling short of the 60-vote threshold required to end debate.

Notably, two Republican senators also voted against advancing the bill alongside Democrats.

In February, Senator Bill Hagerty introduced the GENIUS Act to create a framework allowing tokens like USDT and USDC to fall under Federal Reserve rules.

The bill, co-sponsored by Senators Tim Scott, Cynthia Lummis, Kirsten Gillibrand, and Angela Alsobrooks, was designed to establish a:

“safe and pro-growth regulatory framework that will unleash innovation and advance the President’s mission to make America the world capital of crypto.”

Despite being considered bipartisan, ten Senate Democrats expressed last-minute concerns on May 3, with four former supporters reversing their positions.

Their objections included:

• Missing AML (Anti-Money Laundering) and national security safeguards

• Ambiguous regulations that could expose crypto markets to abuse

Senator Elizabeth Warren took the strongest stance, urging rejection of the GENIUS Act. On May 4, she claimed the Trump family could benefit from World Liberty Financial’s USD1 stablecoin deal with MGX, a UAE-based firm.

This deal involved a $2 billion investment linked to Binance and WLFI’s stablecoin, which Warren said would “enable this type of corruption.”

US Senators Call Out ‘Political Gamesmanship’

Senator Tim Scott, a co-sponsor of the bill and Chairman of the Senate Banking Committee, denounced the opposition on May 8:

“It should have been a historic day for Americans (...) Instead, we witnessed a disappointing display of political gamesmanship that puts partisan politics above policy, and obstruction above innovation.”

Scott insisted the shift wasn't about the bill’s content, but a political move against President Trump and his legislative goals.

Senator Lummis echoed this on X:

“Make no mistake, digital assets are the future and America must lead the way.”
“It’s important that we continue moving digital asset legislation forward that preserves America’s dollar dominance and makes America the crypto capital of the world.”

Bessent Blasts Missed Opportunity

Treasury Secretary Scott Bessent also weighed in, saying the world needs American leadership for stablecoins and digital assets to thrive.

“Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework.”
“The world is watching while American lawmakers twiddle their thumbs. Senators who voted to stonewall U.S. ingenuity today face a simple choice: Either step up and lead or watch digital asset innovation move offshore.”

@ Newshounds News™
Source:  Bitcoinist

~~~~~~~~~

BLACKROCK, CRYPTO TASK FORCE DISCUSS ETP STAKING, TOKENIZATION

Staking for Ether ETFs has been one of the hot topics in 2025, with Grayscale and Fidelity both filing for rule changes that would allow this staking functionality.

Wall Street giant BlackRock recently met with the SEC’s Crypto Task Force to discuss two key areas:

1. Staking within crypto exchange-traded products (ETPs)

2. Tokenization of securities

These discussions could significantly advance institutional interest in crypto markets.

ETP Staking and SEC Conversations

According to a May 9 memo published by the task force, BlackRock initiated the meeting to:

“[d]iscuss perspectives on treatment of staking, including considerations for facilitating ETPs with staking capabilities.”

BlackRock has emphasized that while Ether ETFs have seen success, they are less effective without staking.

Other ETF issuers echo this sentiment. On Feb. 15, the New York Stock Exchange proposed a rule change to enable staking services for Grayscale’s spot Ether ETFs.

In April, the SEC delayed its decision on this proposal. As it stands, BlackRock and Grayscale remain behind the largest Ether ETFs by market cap, according to Sosovalue.

Proof-of-stake blockchains allow users to lock their tokens to earn yield. If the SEC approves staking for Ether ETFs, this could pave the way for similar requests for altcoins, including Solana ETFs.

Tokenization Also in Focus

In addition to staking, BlackRock addressed the tokenization of securities within the federal securities regulatory framework.

Securities include stocks and bonds—assets where investors expect monetary gain. Tokenization offers several benefits:

• Faster settlement times

• Lower costs vs. traditional finance infrastructure

• 24/7 market access

BlackRock already runs a tokenized U.S. federal debt fund called BUIDL, which is currently the largest of its kind, with a $2.9 billion market cap.

Other players include Franklin Templeton, whose BENJI fund also tokenizes securities.

Robinhood Enters the Game

Meanwhile, brokerage firm Robinhood is exploring tokenization as well. It is reportedly working on a blockchain solution to allow European retail investors to trade U.S. securities such as stocks.

@ Newshounds News™
Source:  CoinTelegraph

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Iraq Economic News And Points To Ponder Saturday Morning 5-10-25

An Economist Identifies The "Most Important Reason" Behind The Dollar's Decline In Iraq

Buratha News Agency1512025-05-09   Economist Nabil Al-Marsoumi said on Friday (May 9, 2025) that progress in the Iranian-American negotiations is the most important reason behind the rise in the exchange rate of the Iraqi dinar against the dollar.

Al-Marsoumi said in an analysis he published, "Although the rise in the dinar's exchange rate against the dollar is linked to many factors, I believe the most important reason is the progress in the Iranian-American negotiations."

He added, "If the negotiations lead to an agreement between Iran and the US, the exchange rate of the dollar against the dinar on the parallel market will be very close to the official rate between them."

The Iraqi dinar's exchange rate against the dollar has risen relatively over the past few days on the parallel market, while the official market rate has remained stable. The selling price for $100 reached 142,000 dinars.

The Prime Minister's financial advisor, Mazhar Mohammed Saleh, said in a press statement that demand for dollars declined for three main reasons: "The Central Bank's success in financing and encouraging small businesses immediately after lifting restrictions, and facilitating travelers' access to dollars via cards and at airports at the official exchange rate."  https://burathanews.com/arabic/economic/459908

The Dollar's Exchange Rate Is Stabilizing Towards Its Target: Adaptation Or Adjustment?

Dr. Haitham Hamid Mutlaq Al-Mansour   It became clear in the period from last April until this May that the dollar exchange rate in Iraq began to stabilize, declining towards the (official) target level. Therefore, a question may be raised in this context: Is this stability the result of “adaptation” or “adaptation”?

To answer this question, we examine the reality of monetary policy measures that strengthened the foreign exchange signal's response to the downward trend, which can be described in the following paragraphs:

1. The Central Bank's restrictive policy of controlling dollar sales to banks through transparency measures for transfers of unclear origin aimed at combating smuggling. This increased the official supply and eased pressure on the exchange rate.

2. The effectiveness of monetary policy in financing foreign trade through highly rated correspondent banks, within the framework of the US Treasury and Federal Reserve's conditions. This is in addition to the trend toward settlement in euros, yuan, and UAE dirhams, which has facilitated remittance transactions in our trade with China, Turkey, and the UAE.

3. Added to this is the decline in demand for the dollar due to the increased level of banking compliance with international conditions on dollar transfers to prevent their smuggling to Iran, Syria, and Turkey via Iraq. As a result, suspicious transfers have decreased, and illicit demand for dollars has declined, contributing to the stability of the dollar exchange rate.

4- The effectiveness of the Central Bank’s foreign reserves management to compensate for the decline in the dollar supply in the parallel market, thus curbing the exchange rate towards the target.

5- The effectiveness of the inflation targeting policy led to a slowdown in the rise in the general price level (inflation) in Iraq, which limited the phenomenon of dollarization and raised the real value of the dinar.

6- Decline in speculation in the parallel market. Following the regulatory measures, the activity of unlicensed money changers and speculators who artificially raised prices declined.

7- The effectiveness of financing travelers in dollars through the official rate using payment cards at reduced costs and at the official exchange rate of 1320 dinars per dollar, in addition to collecting cash dollars through Iraqi airports, in the amount of 3000 dollars at the official rate for each traveler per month who carries an electronic payment card.

8- External international factors related to a general weakness in purchasing power in global markets and a decline in stocks, which caused a decline in the value of the dollar and a rise in gold, leading to a decline in demand for it globally and locally.

From the above-mentioned reasons, we find that exchange rate stability, despite its importance as a short-term objective of monetary policy, was achieved through “adjustment,” i.e., a short-term price adjustment trend resulting from short- or medium-term measures and treatments for exchange rate fluctuations.

The aim was to restore temporary economic equilibrium without changing the basic structure of the economy and without deep-rooted long-term policies, which reduces the effectiveness of targeting the exchange rate at the long-term target level. Stability could have been achieved as a result of long-term structural “adjustment” by following long-term policies as follows:

1- Decrease in demand for the dollar due to the availability of agricultural or industrial GDP revenues as a substitute for imports.

2- Improvement in the balance of payments thanks to non-oil agricultural and industrial exports.

3- Structurally reforming the banking system and activating the role of monetary tools, especially the interest rate structure, in a way that restores the overall balance to its natural state without a split between what is real and what is monetary.

4. Reducing rentierism by diversifying the economy through allocating resources based on foreign trade to generate national surplus value. The result: more sustainable stability, as the economy becomes less dependent on external factors.

If the current balance remains in place, the dollar supply will still be vulnerable to depletion within a year of imports if oil exports cease due to wars and threats, for example, or if the economy is exposed to similar external shocks. Furthermore, reliance on reserve management and other stringent measures will not be sufficient to ensure long-term exchange rate stability.

In conclusion, while ensuring that the exchange rate stabilizes near its target level is a significant achievement for monetary policy, the absence of structural reforms, economic diversification, improving the business environment, combating corruption, and other factors will make any exchange rate stability vulnerable to reversal, particularly with oil price fluctuations, political crises, and external shocks. This underscores the importance of planning for long-term structural adjustment at the macroeconomic policy level.    https://economy-news.net/content.php?id=55289

The Central Bank Announces More Than 41 Billion Dinars In Fines Against Banks And Companies

Buratha News Agency1762025-05-09  The Central Bank of Iraq announced on Thursday that the value of fines imposed on banks and non-banking institutions, including exchange companies, amounted to more than 41 billion dinars during the first three months of the current year.

 According to a table issued by the bank, the fines imposed on these entities from January to the end of March amounted to 41 billion, 268 million, 578 thousand and 75 dinars, noting that this value decreased compared to the same period last year, which recorded fines amounting to 138 billion, 377 million, 321 thousand and 527 dinars.

The bank explained that the fines were accompanied by 54 administrative penalties, including warnings, notices, and grace periods, and were distributed to a number of banks and non-banking financial institutions.

The table also showed that March saw the highest value of fines, amounting to 28 billion, 759 million, 847 thousand, and 795 dinars, with 14 administrative penalties, while February recorded the lowest value of fines, approximately 4 billion, 628 million, 140 thousand, and 368 dinars, despite witnessing the highest number of administrative penalties, with 25 penalties.

The table did not mention the names of the banks or companies that were subject to fines and administrative penalties.   https://burathanews.com/arabic/economic/459899

Gold Rises Amid Buying And Anticipation Of US-China Trade Talks

Friday, May 9, 2025 12:39 | Economic Number of reads: 185   Baghdad / NINA / Gold prices rose on Friday as investors rushed to buy the precious metal after its earlier decline, while markets awaited US-China trade talks scheduled for early next week.

By Friday morning, spot gold rose 0.3% to $3,316.29 per ounce. US gold futures rose 0.5% to $3,321.60.

Spot gold fell about 2% yesterday to $3,274.38 after US President Donald Trump announced a trade deal with Britain, according to Reuters.

The agreement maintains a 10% tariff on goods imported from Britain, while Britain agreed to reduce its tariffs from 5.1% to 1.8% and further open its market to US goods.

Trump also stated that he expects the United States and China to hold substantive trade negotiations early next week and that the 145% tariff imposed on Beijing is likely to be reduced.

Several Federal Reserve officials are scheduled to speak later today to offer further insights on the economy and the central bank's policy path.  The Fed held interest rates steady on Wednesday and warned of rising inflation and unemployment risks.

Among other precious metals, spot silver was steady at $32.48 an ounce. Platinum rose 0.5% to $980.55, and palladium gained 0.2% to $978.21. https://ninanews.com/Website/News/Details?key=1225718

An Expert Sounds The Alarm: The Monopoly Of Foreign Banks Operating In Iraq Over Remittances Must Stop Immediately.
 
May 9, 2025   Baghdad/ Iraq Observer  The expert on financial and banking, Mustafa Hantoush, said that the control of Jordanian and Gulf banks on Iraqi remittances, is something that cannot be tolerated, ignored or continued, and needs immediate and rapid treatment from the Central Bank of Iraq.
 
Hantoush expressed in an interview with Iraq Observer that "the remedies that require the Central Bank to take towards this file are almost non-existent,"
 
calling for the need for 

the Central Bank to conduct a detailed study to review the financial situation in the country by creating a policy to strengthen Iraqi banks at the expense of foreign."
 
"At the very least, it is possible for Iraqi foreign banks to participate and be dealt with Iraqis in conjunction with the work of radical steps to develop monetary policy," pointing out that
 
"as long as convictions are directed towards not developing the banking system in Iraq,

it is difficult to control the work of those banks during their foreign dealings on behalf of Iraqi banks."
 
Experts and specialists have long criticized foreign banks operating in Iraq, in that they
 
     do not provide development plans, especially in poor areas in Iraq, but

     focus their activity in commercial areas where traders are present for the purpose of foreign transfers, and 
foreign banks operating in Iraq

     do not provide real electronic applications that serve citizens and

     do not contribute to vital projects such as oil banks.
 
Thus, all international banks operating in Iraq
     are linked to the American correspondent bank and
     their activity is centered on making profits from remittances and
 
when the remittances are closed,
     their branches are closed and
     returned with profits to their countries.    
  
https://observeriraq.net/خبير-يدق-ناقوس-الخطر-احتكار-المصارف-ال/ 

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Saturday Morning 5-10-25

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SEC MOVES TO END RIPPLE CASE AS COMMISSIONER REBELS: $75M RETURNS TO XRP GIANT

The SEC Ripple lawsuit has just reached a pivotal turning point as the Securities and Exchange Commission recently filed a motion seeking court approval for a settlement with Ripple Labs. Under the proposed deal that’s currently being reviewed, Ripple would recover $75 million of the $125 million that was held in escrow, while the SEC would receive the remaining $50 million.

Ripple’s $75M SEC Settlement: What It Means for XRP and Crypto Regulation

The SEC Ripple lawsuit settlement marks what appears to be the potential end to a legal battle that first began back in December 2020. As per the May 8 court filings, both parties have agreed to withdraw their appeals, virtually ending one of the most important and keenly followed cases in crypto regulation news.

Commissioner’s Opposition Reveals SEC Division

Not everyone at the SEC supports the resolution. Commissioner Caroline A. Crenshaw issued a public dissent:

“This settlement is a tremendous disservice to the investing public.”

Crenshaw warned that the SEC Ripple lawsuit settlement could weaken the agency’s enforcement power and negatively impact future XRP price prediction analyses in unexpected ways.

XRP’s Market Struggle During Litigation

The XRP lawsuit impact was immediate and significant when the case began. According to the crypto analyst behind the account All Things XRP:

“It didn’t just slow XRP down — it stole years of growth.”

While Bitcoin and Ethereum surged during the 2021–2023 bull market, XRP stagnated between approximately $0.30–$0.50, missing out on substantial gains and altering many XRP price predictions at the time.

Settlement Terms and Future Implications

The SEC Ripple lawsuit resolution preserves Judge Torres’ 2023 ruling that only institutional XRP sales violated securities laws. This legal distinction remains critical for ongoing crypto regulation news and Ripple’s future operations.

If the $125 million penalty clears the court in the next few days:

• $75 million would be returned to Ripple

• $50 million would remain with the SEC

This result may provide badly needed regulatory clarity and underscore the lasting effects of prolonged litigation on XRP price forecasts and broader digital asset regulation.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

US TREASURY SECRETARY BESSENT LAMBASTS SENATE FOR BLOCKING STABLECOIN BILL, CALLS IT ‘MISSED OPPORTUNITY’ FOR AMERICAN LEADERSHIP

▪️ U.S. senators voted Thursday to halt progress on a stablecoin regulation bill amid escalating tensions over President Donald Trump’s crypto involvement.

▪️ Treasury Secretary Scott Bessent said American leadership is needed for stablecoins and other digital assets to thrive globally, lambasting the Senate’s “missed opportunity.”

U.S. Treasury Secretary Scott Bessent lambasted the Senate's decision on Thursday to halt the progress of the GENIUS Act amid rising tensions over President Trump's increasing crypto involvement and concerns about specific aspects of the proposed stablecoin bill.

"For stablecoins and other digital assets to thrive globally, the world needs American leadership," Bessent posted on X. "The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act."

Secretary Bessent described the bill as a "once-in-a-generation opportunity" to expand dollar dominance and boost U.S. influence in financial innovation. He argued that without such legislation, stablecoins will remain governed by a fragmented set of state rules rather than a unified federal approach that better supports growth and global competitiveness.

"The world is watching while American lawmakers twiddle their thumbs," Bessent said. "Senators who voted to stonewall U.S. ingenuity today face a simple choice: Either step up and lead or watch digital asset innovation move offshore."

A not-so-brilliant delay for the GENIUS Act

The Senate Banking Committee earlier voted to advance the GENIUS Act in March. The bill requires:

• 100% reserve backing with U.S. dollars and similarly liquid assets

• Annual audits

• Prohibits foreign issuance in the country

The Senate voted 49-48 against the bill in its current form on Thursday, with Sens. Josh Hawley (R-Mo.) and Rand Paul (R-Ky.) joining Democrats in opposing the procedural vote.

While the GENIUS Act bill resulted from bipartisan negotiations, Democrats recently raised concerns about unfinished bill text, foreign issuer oversight, and anti-money laundering provisions.

Senator Mark Warner (D-Va.) said he couldn't support legislation that wasn't yet finalized. Senate Majority Leader John Thune (R-S.D.), despite also voting no, said he did so to allow the bill to be reconsidered later, criticizing the Democrats amid multiple revised versions:

"I just have to say, frankly, I just don't get it," Thune said. "I don't know what more they want."

Tensions deepened as Trump’s personal and financial ties to crypto — including memecoin launches, $1.5 million-per-plate crypto fundraisers, and backing DeFi project World Liberty Financial — sparked accusations of conflict of interest ahead of the vote.

Some Democrats, including Rep. Maxine Waters (D-Calif.), also boycotted a crypto-focused House hearing this week, citing the president's direct crypto holdings and influence over agencies. The House Financial Services Committee also recently voted to advance a similar bill, the STABLE Act, with anti-money laundering and reserve requirements.

@ Newshounds News™
Source:  The Block

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Bruce’s Big Call Dinar Intel Thursday Night 5-8-25

Bruce’s Big Call Dinar Intel Thursday Night 5-8-25 

Transcribed By WiserNow Emailed To Recaps

Welcome  everybody to the big call tonight. It is Thursday, May 8th  I love that number eight. Don't you Sue and yeah, you're listening to the big call. Thanks for tuning in, everybody. Thank you satellite team for getting the call out all over this globe, and thank you for yet another fun night for the big call to take place –

Now, let's get into where we are. Intel wise, okay, you we did hear that the quantum financial system is fully integrated. We keep hearing that, but I believe now it's completed. As of 5pm today, everything was totally synced up that Eastern Time, everything was fully synced and lined up and ready to go.

We also heard they have our quantum cards delivered to the redemption centers. We kind of talked a little bit about that. I think it was on Tuesday or maybe last week. It was and our quantum cards have our names on them already. They're expecting us to go to the redemption centers to the zip code where we live, most likely, and that's why they sent those to the redemption centers.

They also have our so called Digital golden wallets ready, and that's what their talk said, was that, are we talking about cryptocurrency here? No, this is talking about the quantum account card would go in that. You know, that's what we use with the biometrics. Everything's lined up, biometrics, our new username password, the five digit PIN code that we come up with, and a new email and email password -   those six points are what determines our quantum card so we can access our quantum accounts and move funds into accounts.

Initially, we'll be able to move pretty good sum that will last us easily for the first 60 days, and then after that six after that 60 day period, they're telling us, we will have access to all of, all of our exchange

Now there are no structured settlements. That was old school. That was old stuff we heard a long time ago.  It was from the deep state. It's going to be, it's going to be really, really good. We're going to have plenty of opportunity to move funds into our account and have we understand three different banks tied to the quantum card. So I'm using Wells and maybe add one or two more banks to it down the road.

 No rush to do it . You're also going to get a debit credit card that you will use to use your debit or credit card. Now that would be a Wells Fargo bank, credit debit card. Okay?

Because the quantum account, you don't buy anything with it. It's kept in a very safe location, and you only use it when you're moving funds from your quantum bank account  into your bank accounts. Get that clear in your mind how that works.

Now everything is lined up and ready for us. President Trump after he made his Oval Office press conference - let's call it today with the UK, the United Kingdom, which is four countries. It's England, it's Wales, it's Ireland and Scotland, those four countries in the United Kingdom.

So we have a trade deal that they put together, this is the first official post tariff trade deal that's been put together that was announced today. Everyone was happy. UK representatives were happy. President Trump was happy. We're all looking good, and it's just that's just one of probably 100 deals that will  be done  100  deals

Now, talking about trade, our treasury secretary and I heard one other counselors say, Scott Bessent  like I said, most people say besent , but I like Bessent -  I'm sorry Scott, Scott is headed over to Switzerland and see probably already on his way to meet representatives from China to try to put a China trade deal together.

 I think he'll do a wonderful job that. And then maybe someone, I'm sure there are other people in his in his group, that will help assist that --  President Trump, on the other hand – after this speech today in press conference, was on his way to Qatar. And remember, it's Q, U, A, T, A R, Qatar. It's not Qatar. Qatar is C, U, T, E R, mosquito spray - okay, this is Qatar, and that's how it's pronounced.

Qatar was his first stop, and then his next stop is Saudi Arabia. And we think his third stop is Iraq. What would he do for Iraq tomorrow? We're hearing tomorrow at approximately 10 o'clock. It's not an official time, approximately 10 o'clock Eastern. We believe President Trump will be making an announcement about the revaluation of the Iraqi Dinar -  he's going to be in Iraq, and who will he accompany him in Sudani probably?

He probably could be CBI representatives Iraq, or maybe even Sunil  Al Shabbibi . Maybe more, but I think we're looking for an announcement tomorrow about the revaluation of the Iraqi dinar, which is already taking place.

Secondly, looking for something regarding NESARA  and GESARA, about that. Maybe just a brief, brief overview, maybe no depth on it. So just something there. So there's 123, there's also, we believe, going to announce the revaluation of currencies under the Global Currency Reset.

You might use that terminology to do something different, but basically announce that, and then the next possible announcement is about a peace deal with Hamas and Israel so that area can be started to be rebuilt. You know the difference between Palestine and Israel? I don't know.

 I know that we've got a three day cease fire Ukraine with  Russia. Russia didn't want to agree to a 30 day Cease fire. But I'm hoping that can be massaged a little bit. Maybe, maybe we could get to that -  President Trump hates to hear about the war that's going on between Russia and Ukraine and and all the people up to about he said averaging about 5000 young people dying every week over there.

He said a real number could be more, is what he said today. So that's definitely something we want to get, get moved beyond. But the theory is that we get this announcement in Iraq tomorrow, and then we get notified shortly thereafter, and we start setting our appointments and begin our exchanges

Now. Beyond that, I can tell you that redemption center personnel that we know of are on call, but in 930 tomorrow, in the redemption center, justify those two concepts, they're on call, but you're going in at 930 in the morning tomorrow. Okay, I'm just gonna say they're going in at 930

Now Saturday. These same individuals in the redemption centers are going in at 9:15 AM on Saturday.

Now, if we go Friday or we go Saturday, going to continue to go through Sunday,  I don’t know it is Mother’s Day – going to leave that open. We don't know. Theoretically, they would go right on through include Sunday - people would exchange and still have a Mother's Day celebration, even a big one  after they exchange.

So not sure about Sunday, but we do know redemption centers are planning to stay open, not everywhere, but for the most part, until the end of the month,  May 31st.

Okay, this month should be colossal for us. It should be a bundle for us. We should get increases in Social Security. Our Doge payment checks are some in the mail in the first two weeks -  Well, we're wrapping up one week Saturday  the next week starts Sunday - So if you don't have one by the weekend, maybe you'll get a check next week.

And then don't forget the R and R restitution reclamation allowance, or, however, whatever R’s  you like, that's supposed to be for those of us who are exchanging at the redemption center when we go in we should ask about it.

And I told you, if you had projects and if you had Zim and Dinar -  are not offered the contract rate on the Iraqi dinar and zim to go ahead and ask them for it, I understand there is a contract rate on the Dinar  and they say yes.

And they supposedly, if you do that, they have to give it to you, kind of a back screen rate at the redemption center  that's a  Win, win, win for us to get that rate pretty strong rate too -  President Trump. You guys, a couple weeks ago, was trying to, trying to get it, get Iraq to increase that by increasing their per barrel of oil price that they're selling their oil for. And I don't know that that's happened.

And you know what? It really doesn't matter how high it is, it'll be terrific. It'll be a great rate. That's all we need to know. Rates have been solid on the screens through yesterday, through yesterday, and I think that we are in a good position now. Yeah, I hope we've had a celebration call, this is pre- celebration.

We don't have the numbers yet, but I do believe if we  - we should get started tomorrow  or Saturday and get started with exchanges. If we don't start tomorrow, should start over the weekend, which is, to me, Saturday, Sunday.

 So that's what we're hearing in terms of the timing of this, our new timeline. Kind of excited about it going finally, because it looks like everything is really complete. appears to be done. And the announcements here, when President Trump, believe was yesterday, said was yesterday. Was it Tuesday? Said that he was going to be making sn earth shattering  announcement in a few days. He was usually three days.

And, yeah, I look forward to tomorrow - I believe he made my announcement to us on Tuesday, and I brought up on the call. And I think that means that we're looking good for him to make that announcement tomorrow out of Iraq. So I'm going to be up in the morning looking for that.

You know, I usually watch one American news or news max. I don't really watch Fox. Or you'll be on Fox, on Fox News probably. That will be the starting off going for us - 

Now, we would probably get the numbers out, put it on the website, of course, send out an email blast to everybody that wants toll free number to make sure some people that may not have emails for there's most out the email, then we can, you know, call center with 800 and so on, and go right in, set appointments, right?

 Well, what if they don't have your email, or you've changed it, they don't have you're doing, you know, that's where we come in. We're supposed to fill in the blanks on the big call and let everybody know what it is. I was hoping I'd get the number before tonight be able to share it on the big call.

A lot didn't happen, but we probably need President Trump to make this announcement first tomorrow. Let's hope it is tomorrow. Let's hope it's around 10. Don't hold me to the point to the time exactly. I've heard it should be made tomorrow morning, around 10, Eastern Daylight Time - so we'll see. I think we're that close, though, to  letting it go.

All right. Great weekend, ladies. Have a wonderful Monday, and let's just see if we get some notifications after President Trump does his speech, out of Iraq, tomorrow. Let's see what happens. All right. God bless you guys have a great weekend.

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Seeds of Wisdom RV and Economic Updates Friday Afternoon 5-9-25

Good Afternoon Dinar Recaps,

THREE NEW U.S. STATE-LEVEL BITCOIN BILLS SIGNED INTO LAW
From New Hampshire to Arizona to Oregon, more proposed Bitcoin legislation has become law in recent days.

This week, three U.S. states have enacted bitcoin-related bills into law.

On Tuesday, New Hampshire became the first state to sign into law a bill that would allow for the creation of a strategic bitcoin reserve (SBR).

On Wednesday, Arizona enacted its second bill related to bitcoin, blockchain, and digital assets.

Also on Wednesday, Oregon’s governor signed a bill into law that updates the state’s commercial code to recognize digital assets such as bitcoin as collateral.

New Hampshire Can Now Establish An SBR
On Tuesday, New Hampshire signed HB302 into law, making it the first state in U.S. history with the legal footing to create an SBR.

The new law enables the state treasurer to invest in digital assets that have a market cap of over $500 billion. (Bitcoin is the only digital asset that currently meets this criteria.)

While the law doesn’t specifically call for the creation of an SBR, it does enable the state’s treasurer to create one.

This historic law was enacted thanks in part to the efforts of Rep. Keith Ammon, the primary sponsor for this bitcoin-related bill.

Arizona Governor Vetoes One Bitcoin Bill But Signs Another
On May 2, Arizona Governor Katie Hobbs vetoed SB1025, which would have enabled the state treasurer and retirement system to invest 10% of their available funds into virtual currencies.

The bill was known as the “Arizona Strategic Bitcoin Reserve Act”.

However, on May 7, Governor Hobbs signed HB2749 into law — a bill that also establishes a state-level digital assets reserve.

HB2749 amends Arizona’s unclaimed financial property statutes to allow the state to claim bitcoin or digital assets that have been abandoned or unclaimed after three years.

This is the second bitcoin-related bill Governor Hobbs has signed in recent weeks — the first being HB2342 on April 18, which protects individuals running blockchain nodes from local restrictions.

New Oregon Law Recognizes Bitcoin As Collateral
On Wednesday, Oregon Governor Tina Kotek signed SB167 into law.

This law updates Oregon’s Uniform Commercial Code (UCC) to:

• Recognize digital assets such as bitcoin as collateral

• Introduce Article 12, which establishes a legal framework for “controllable electronic records,” including cryptocurrencies

This sets the legal groundwork for bitcoin and other digital assets to be used in traditional financial products in Oregon.

Picking Up The Pace
Prior to this week, only three bitcoin-related bills had been signed into law:

• Utah’s HB0230 (signed March 12): Defined and regulated digital assets

• Kentucky’s HB701 (signed March 24): Offered protections for individuals and businesses engaging with digital assets

• Arizona’s HB2342 (discussed above)

If this week is any indication, more Bitcoin legislation may be codified into law in the near future.

@ Newshounds News™
Source:  Bitcoin Magazine

~~~~~~~~~

BRICS: ASIA COULD DUMP $2.5 TRILLION WORTH OF US DOLLAR CURRENCY

The US dollar may face a huge crisis from BRICS and other Asian currencies, as Stephen Jen, CEO of Eurizon SLJ Capital, revealed to Bloomberg that an “avalanche” of USD selling worth $2.5 trillion could come from Asian countries.

He explained that Asian exporters and investors have stockpiled a massive amount of USD over the years, which could soon be dumped as the greenback weakens against local currencies in 2025.

The Bloomberg currency index shows that the USD is down 8% since February, while local currencies are outperforming the global reserve currency.

This trend gives the BRICS alliance more momentum to push the de-dollarization agenda, as $2.5 trillion worth of USD now hangs on a thread.

“We suspect these dollar hoardings by Asian exporters and institutional investors may be extremely large. Possibly on the order of $2.5 trillion or so. And pose sharp downside risks to the dollar vis-à-vis these Asian currencies,”
– Jen and Joana Freire

BRICS: US Dollar Faces a Threat of $2.5 Trillion Sell-off

BRICS and other developing nations are now economically strong enough to offload their US dollar reserves.

There is a growing belief in an “important imbalance in the world” that puts the US dollar in a vulnerable position, said Jen.

The long-term appeal of the USD is fading, as local currencies offer advantages like:

• No excessive debt burdens

• Mutual GDP strengthening when used for trade

The dollar’s dominance is shrinking globally.

De-Dollarization Expands Beyond BRICS

Beyond BRICS, de-dollarization is also accelerating in countries such as:

• Taiwan

• Malaysia

• Vietnam

In these regions, the US dollar is becoming secondary in trade and investment.

Jen further noted that Asian nations have external surpluses, which allow them to hedge against USD fluctuations with more flexibility.

“The American economy is at the crossroads of a global paradigm shift where its power is on the decline.”

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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Iraq Economic News And Points To Ponder Friday Morning 5-9-25

Iraq Is On The List: The 5 Largest Electricity Deals In April 2025

Energy   Economy News - Follow-up   Algeria topped the list of the top five electricity deals in April 2025, with various important projects, according to a monthly report prepared by Energy Platform.

The North African country topped the list, thanks to a number of significant deals and projects concluded in April 2025, ranging from electricity storage to the construction and development of power plants.

Meanwhile, Iraq competed in the top five electricity deals of April 2025, thanks to a number of significant projects. This included the largest deal in the history of this important sector, ensuring the country's goal of providing reliable and safe energy to its citizens is achieved.

The United Arab Emirates joined the list of the top five electricity deals in April 2025, thanks to a significant acquisition of one of the largest companies specializing in developing electricity transmission projects. Saudi Arabia also entered the list with a significant deal. Here's the full text of the report:

Electricity Storage In Algeria

Algeria's electricity storage sector topped the list of the top five electricity deals in April 2025, thanks to an agreement signed by the Ministry of Energy, Mines, and Renewable Energy to develop and strengthen the battery industry by developing the lithium division.

Under the agreement, details of which were reviewed by the specialized energy platform, an integrated strategic project will be implemented, including the valuation of national mineral resources (lithium, iron, and phosphate), ensuring support for the country's electricity storage sector.

This agreement was signed between the National Office for Geological and Mining Research (ORGM), representing the Sonaram group, and Professor Karim Zaghib, an international expert in the field of lithium-iron-phosphate batteries, one of the most important operators in this sector.

Developing A Project That Has Been Stalled For Years

By developing a project that had been stalled for years, Algeria maintained its position at the top of the list of the top five electricity deals in April 2025. Sonelgaz, the Algerian Electricity and Gas Company (Egyptian Electricity and Gas Company), announced that it had reached a preliminary agreement to develop a power plant in Ain Oussera, Djelfa province.

According to what the specialized energy platform has seen, the proposal of the Spanish company "DURO FELGUERA" to award the remaining work of the project to build the Ain Oussara power plant in the state of Djelfa to a Chinese alliance consisting of three companies has been approved.

From The Implementation Works Of The Djelfa Power Plant - Archive

Sonelgaz explained that the agreement obligates the Chinese consortium, consisting of three companies: CPECC-APCC-NWEPDI, to gradually operate the power plant starting in the ninth month following the final agreement.

It's worth noting that the Spanish company entered the pre-bankruptcy phase in December 2024, having halted construction of a giant power plant in Algeria since June 2024.

Battery Storage In Saudi Arabia

Saudi Arabia ranked among the top five electricity deals in April 2025, thanks to a major deal that launched the second phase of a battery-powered electricity storage system. The deal, with investments exceeding SAR 6.73 billion and a capacity of 2.5 gigawatts, saw the Saudi Electricity Company sign purchase contracts with several companies.

Under the deal, this phase includes five projects, distributed across Riyadh, Qaisumah, Al-Jawf, Al-Dawadmi, and Rabigh. These projects are part of the National Renewable Energy Program, supervised by the Ministry of Energy, to enable the proportion of renewable energy capacity in the total electricity mix to increase to 50% by 2030.

The Saudi Electricity Company (SEC) signed purchase contracts with China's BYD and Al Fanar Projects to supply and build storage systems with a capacity of 500 megawatts and a capacity of 2,000 megawatt-hours for each of the five sites.

The Largest Deal In Iraq's History

Baghdad occupied a significant position on the list of the top five electricity deals in April 2025, thanks to the largest deal in Iraq's history. This deal was the signing of a memorandum of understanding (MoU) with GE Vernova, under the framework of cooperation principles, which includes projects for combined-cycle gas-fired power plants with a capacity of approximately 24,000 megawatts.

From the signing ceremony of the largest electricity deal in Iraq's history - Photo courtesy of the Ministry of Electricity

According to the memorandum of understanding, reviewed by the specialized energy platform, external financing can be secured from international banks to develop and maintain existing power plants, in addition to constructing new plants to increase generating capacity.

The American company will implement the projects in three phases, spanning the next four years, including improvements to the efficiency of existing generating units and the introduction of modern technologies to increase production without the need for additional fuel.

Emirati Acquisition Deal

The UAE joined the list of the top five electricity deals in April 2025, thanks to a deal in which Abu Dhabi National Energy Company (TAQA) acquired 100% of Transmission Investments (TI), a leading UK-based energy and utilities investment platform.

Under the deal, the Emirati company acquired a significant stake in the marine electricity transportation sector, particularly as the British company is one of the largest operators of marine electricity transportation assets and connects offshore wind power plants to the UK's electricity grid.

This deal will strengthen the Emirati company's position in this important sector, as TI will become part of TAQA Transmission Networks and provide a highly skilled and experienced team of 40 individuals.
190 views  Added 05/08/2025 - https://economy-news.net/content.php?id=55254

Globally, Gold Continues To Decline.

Time: 2025/05/08 09:30:35 Read: 1,770 times  {Economic: Al Furat News} Gold prices continued their losses during trading on Thursday, despite the US Federal Reserve's warning of increased risks to rising inflation.

In trading, gold futures fell by about 0.8% to $3,364.9 per ounce.

The yellow metal had fallen by more than 1% after the US Federal Reserve decided to hold interest rates steady. However, the US central bank announced that it had identified increased risks of rising unemployment and inflation.

Federal Reserve Chairman Jerome Powell stated that tariffs are larger than expected, and that if the large tariff increases continue as announced, "we will see higher inflation and lower employment."

However, Powell stressed that the current economic situation does not permit a preemptive interest rate cut, and that the president's calls for a rate cut do not affect their work within the Fed at all. LINK

asra Oil Prices Rise In Global Markets

Energy    Economy News – Baghdad   Basra Heavy and Medium crude oil prices rose despite stable global oil prices.

Basra Heavy crude prices rose 49 cents to $60.41, while medium crude prices rose 49 cents to $63.56.

Global oil prices stabilized after falling by more than a dollar in the previous session. Brent crude reached $61.12 today, while US crude reached $58.12 per barrel. 139 views   Added 05/08/2025 - https://economy-news.net/content.php?id=55243

The Dollar Continues To Decline Against The Dinar In Baghdad

Stock Exchange  Economy News – Baghdad  The US dollar exchange rate fell against the Iraqi dinar on Thursday morning in Baghdad markets.

The dollar exchange rate fell on Baghdad's two main stock exchanges, Al-Kifah and Al-Harithiya, to 142,000 dinars per $100. On Wednesday morning, the dollar exchange rate was 143,400 dinars per $100.

Selling prices at exchange offices in Baghdad's local markets recorded a decline, with the selling price reaching 143,000 dinars for $100, and the buying price reaching 141,000 dinars for $100.

233 views  Added 05/08/2025 - https://economy-news.net/content.php?id=55247

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Friday Morning 5-9-25

Good Morning Dinar Recaps,

GENIUS Stablecoin Bill Fails Initial Senate Vote Amid Partisan Tensions

▪️The GENIUS Act, aimed at regulating stablecoins, failed its first cloture vote in the Senate with a 49-48 tally; Senator Thune changed his vote to "no" to allow future reconsideration.

▪️Democrat Senators, joined by Republicans Hawley and Paul, blocked the motion, citing the need for more time to educate lawmakers and improve the bill’s language.

▪️Senator Ruben Gallego acknowledged bipartisan progress on the bill and called for a delay until Monday, but the request was blocked—likely by Senator Warren.

▪️Concerns over Trump's crypto ties, including a $2B transaction involving the Trump family stablecoin USD1 and a UAE firm, have increased Democrat resistance.

▪️Senator Thune accused Democrats of obstruction, saying the bill had already undergone six revisions and bipartisan committee support.

@ Newshounds News™
Source:  Ledger Insights

~~~~~~~~~

SEC Commissioner Peirce Proposes Flexible Framework for Tokenized Securities

▪️ SEC Commissioner Hester Peirce unveiled a proposal for a regulatory exemption framework to test tokenized securities, aiming to balance innovation with investor protection.

▪️ The proposed framework would create a sandbox-like environment, allowing firms to issue, trade, and settle tokenized assets using blockchain under controlled conditions.

▪️ Conditions include anti-fraud compliance, detailed disclosures (including smart contract risks), financial safeguards, SEC oversight, and trading volume limits.

▪️ Peirce emphasized the need for scalable, sensible regulation to reverse the 20-year decline in public listings and ensure the U.S. remains competitive in capital markets.

▪️ The initiative, inspired by global regulatory sandboxes, seeks feedback and could evolve with the maturity of tokenized markets.

@ Newshounds News™
Source:  Bitcoin News

~~~~~~~~~

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Iraq Economic News And Points To Ponder Thursday Afternoon 5-8-25

Al-Mashhadani And The US Chargé d'Affaires Discuss The Arab Summit In Baghdad

Thursday, May 8, 2025 | Politics Number of readings: 71  Baghdad / NINA / Parliament Speaker Mahmoud Al-Mashhadani and the Chargé d'Affaires of the US Embassy in Baghdad, Elizabeth Kennedy Trudeau, discussed on Thursday the Arab Summit to be held in Baghdad and the importance of the role of the Iraqi Parliament in passing laws that serve the public interest.

Al-Mashhadani's media office said in a statement: "Parliament Speaker Mahmoud Al-Mashhadani received the Chargé d'Affaires of the US Embassy in Baghdad, Elizabeth Kennedy Trudeau, and her accompanying delegation."

The statement added that during the meeting, "the bilateral relations between the two countries and ways to strengthen them, expand the circles of understanding, and activate the friendship committees to serve the interests of the two peoples were discussed. The two sides also discussed developments in the regional, Arab and international situations, and a number of topics of common interest."

It pointed out that "the importance of the Arab Summit to be held in Baghdad on the 17th of this month and the importance of the role of the Iraqi Parliament in passing laws that serve the public interest were also discussed."

The Speaker of Parliament stressed, according to the statement, the importance of holding parliamentary elections on the scheduled date, noting that "the biggest challenge lies in broad participation."

Al-Mashhadani stressed "the importance of stopping the war on the Gaza Strip, the importance of calm in Yemen, supporting stability in Syria, and sparing the region further escalation with dire consequences." /End   https://ninanews.com/Website/News/Details?key=1225567

Abu Raghif To A High-Level Delegation From Meta: Our Digital Sovereignty Is A Priority, And Establishing A Regional Center For The Company In Iraq Is Important.

Time: 2025/05/08 Read: 1,785 times   {Local: Al Furat News} The head of the Communications and Media Commission, Nofal Abu Ragheef, received a high-level delegation from Meta, the company that owns the Facebook, Instagram, and WhatsApp platforms, at the commission's headquarters in Baghdad, headed by Basma Amari, Public Policy Manager for the Middle East and North Africa region.

A statement by the commission, a copy of which was received by {Euphrates News}, stated that "the meeting was devoted to discussing avenues of cooperation between the two sides regarding content regulation and enhancing Iraq's secure digital presence on the company's platforms."

During the meeting, Abu Ragheef stressed that "the Communications and Media Commission places at the forefront of its priorities the preservation of Iraq's digital sovereignty and the emphasis on respect for privacy and national standards in everything published on social media platforms," ​​noting "the importance of achieving clear understandings with Meta in this regard."

This is the first visit of its kind to Iraq by a senior Meta official and reflects the company's interest in developing its relationship with official Iraqi authorities as part of its efforts to understand Iraq's digital priorities and build direct and more effective communication channels with regulatory bodies.

During the meeting, according to the statement, "ways to develop joint follow-up and coordination mechanisms to monitor misleading or offensive content were discussed, and to adopt fairer and more transparent procedures for Iraqi users, particularly with regard to deleting content or blocking pages affiliated with media and official institutions."

The Communications and Media Commission also stressed the "need to adopt specific paths to verify official accounts in direct cooperation with the Commission, and to establish a regional support center for Iraq to facilitate communication with relevant authorities and address reports related to content or usage policies."

The meeting also addressed the importance of implementing joint awareness programs on digital security and information verification, in partnership with universities and civil society organizations, to support efforts to raise community awareness of digital threats and self-protection mechanisms.
At the conclusion of the meeting, Abu Raghif affirmed that the Commission "is open to conscious cooperation with global technology companies, in a way that enhances user confidence, preserves Iraq's digital presence, and ensures a fair and balanced communication environment that adheres to the state's legal and sovereign frameworks." LINK

Al-Sudani: Baghdad Is Hosting The Arab Summit At An Exceptional Moment For The Region

Thursday, May 8, 2025 | Politics Number of reads: 383   Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed: "Baghdad is hosting the Arab Summit at an exceptional moment in our region, a moment of major transformations, open conflicts and complex regional challenges.

" Al-Sudani said in statements to the newspaper / Asharq Al-Awsat /: "The Arab Summit in Baghdad comes in a transformative context. It is a moment in which the Iraqi national will meets the general Arab hope to overcome differences and move towards building an effective and comprehensive Arab cooperation system."

He added: "Iraq believes that strengthening Arab action begins with strengthening relations between Arab capitals, from the Gulf to the Ocean, on the basis of mutual respect and non-interference in internal affairs. Today, we need a responsible Arab discourse based on political realism and believing that solidarity does not mean identicality, but rather respect for specificities within a unity of purpose and destiny."

The Prime Minister pointed out: "The challenges facing the region, from the repeated Israeli aggression on Gaza, the West Bank, Lebanon and Syria, to the internal divisions and regional and international interventions, threaten not only the security of peoples, but also our collective will as a nation."

He explained: "The time has come to launch a unified Arab initiative that goes beyond the humanitarian dimension and supports the building of a nation-state based on the constitution, dignity, and diversity." He pointed out: "The absence of effective international engagement requires Arab countries to have a comprehensive development strategy."

He emphasized: "Arab national security is indivisible and cannot be achieved without effective cooperation, balanced policies, and strong institutions that protect the supreme interests of the nation."

He continued: "We are not only rebuilding Iraq, but we are participating in reshaping the Middle East through a balanced foreign policy, conscious leadership, development initiatives, and strategic partnerships."

Economically, the Prime Minister called for adopting an integrated economic approach that addresses development disparities and enhances collective capacity to confront food, energy, and supply chain crises. He pointed out that the Development Road project, which is nearing completion, is a practical model for this approach and can be a pillar for genuine Arab partnerships.

Al-Sudani concluded by saying: “Baghdad, the capital of Arab thought and shared history, opens its arms to the Arab Summit, confident that what unites us is greater than what divides us, and that we have a valuable opportunity to shape a more cohesive and dignified future for our peoples.” /End https://ninanews.com/Website/News/Details?Key=1225481

Signing Two Agreements With France To Finance Projects Worth 130 Million Euros.

May 8, 2025  Baghdad - Qusay Munther  The Ministry of Finance signed two agreements with the French Development Agency to finance vital projects in the sanitation sector, totaling 130 million euros. These agreements aim to improve the environment and basic services in Anbar and Diwaniyah governorates, as part of a comprehensive government plan based on the budget law.

Signing Two Agreements

A statement received by Al-Zaman yesterday said that “the Minister signed two agreements with the French Agency, the first of which relates to signing a supplementary loan for the Al-Khalidiya District Sewerage Project in Anbar Governorate, worth 30 million euros, bringing the total financing for the project to 110 million euros. The second agreement was allocated to finance the Al-Hamza District Sewerage Project in Diwaniyah Governorate, with a loan amounting to 100 million euros.”

Sami stressed that "the government seeks, through this step, to transfer the technology and expertise used in France in the field of wastewater treatment to Iraq, which will contribute to improving the service reality and enhancing the health environment in the beneficiary cities."

 She added that "these agreements are part of a financing package provided by the French government aimed at supporting infrastructure projects in various governorates, and come in implementation of what is stipulated in the Federal General Budget Law for the years 2023, 2024 and 2025, and in line with the directions of the ministerial program, which emphasized directing borrowing towards feasible investment projects."

Meanwhile, Minister of Construction, Housing and Public Municipalities, Benkin Rekani, launched the implementation of the Rose City project in Baghdad. During the launch ceremony yesterday, Rekani said, “Iraq has not witnessed the implementation of major projects for more than 45 years due to the wars and events that the country has experienced, which led to the deprivation of strategic projects and the deterioration of the level of services as a result of the continuous pressure on the infrastructure.”

 He pointed out that “the current government has sought, in various ways, to move towards service and development projects.”

New Cities

“With this project, we will move from creating neighborhoods and residential complexes to building new cities planned according to civilized standards that meet the requirements of modern life by adopting environmental plans, energy sustainability, and modern insulation systems, to provide integrated services for an integrated city,” Rikani explained.

He continued, “The project will include, in addition to residential units, services, and job opportunities, recreational areas and large green spaces.” He went on to say, “This is the first experience of its kind in Iraq in decades, and is considered the largest development project in the country.”

He pointed out that “the project extends over an area of ​​24 thousand dunums, and includes about 100 thousand housing units of various types and levels, including hospitals, universities, commercial markets and entertainment areas,” indicating that “the city of roses will be built in three phases, and is close to the Army Canal Expressway, about 17 kilometers away.”

He went on to say that “the ministry is implementing an expressway linking the Canal area to the city, and a group of adjacent plots of land have been distributed among members of the Ministry of Defense, with plans for additional future expansions.”   LINK

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 5-8-25

Good Evening Dinar Recaps,

MISSOURI BILL ENDING CAPITAL GAINS TAX HEADS TO GOVERNOR FOR SIGNATURE

Missouri will become the first US state to eliminate the levy if Governor Mike Kehoe signs the bill into law.

Missouri House Bill 594, a bill that would eliminate capital gains tax in the state, has passed a vote in the House of Representatives and now heads to the governor’s desk.

According to attorney Aaron Brogan, the bill stipulates a 100% income tax deduction for any capital gains income because Missouri’s tax code does not explicitly distinguish between capital gains and income tax.

Brogan compared the bill’s structure to the federal SALT deduction, but called it “the inverse, which I have never seen before.”

The bill’s timing is notable as it follows proposals from President Donald Trump to overhaul the federal income tax system through comprehensive reform.

Trump proposes eliminating federal income tax in the United States

Trump has proposed offsetting or eliminating federal income tax, replacing it with revenue from import tariffs.

“When Tariffs cut in, many people’s income taxes will be substantially reduced, maybe even completely eliminated… The focus will be on people making less than $200,000 a year,” Trump wrote on April 27 via Truth Social.

He added this would incentivize factory jobs to return to the US by avoiding import duties on finished products.

However, market reaction has been overwhelmingly negative:

• Stock markets lost trillions following tariff announcements.

• Crypto markets shed hundreds of billions in value.

• Bond yields spiked, signaling investor flight from US debt.

@ Newshounds News™
Source:  CoinTelegraph

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COINBASE ACQUIRES CRYPTO DERIVATIVES EXCHANGE DERIBIT FOR $2.9 BILLION

Today Coinbase confirmed it has agreed to acquire Deribit, the largest crypto options exchange, for $2.9 billion, including $700 million in cash with the balance in stock.

Deribit may not be the number one overall in crypto derivatives, but it is the world leader in crypto options. It currently has more than $30 billion in open interest. Coinbase already has a derivatives subsidiary, which is particularly active in perpetual futures, so Deribit complements this well. The acquirer claims the combination will make it the derivatives market leader.

“We’re excited to join forces with Coinbase to power a new era in global crypto derivatives,” said Deribit CEO Luuk Strijers. “As the leading crypto options platform, we’ve built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand.”

Beyond market position, Coinbase highlighted financial benefits, noting that Deribit will help to even out its earnings by diversifying revenue streams because options earnings are less cyclical compared to spot.

Deribit was founded in the Netherlands but operated out of Panama for several years, before moving recently to Dubai. A key driver was to provide regulatory certainty to its institutional clients, which make up 80–90% of its client base.

The transaction is expected to close by the end of the year, subject to regulatory approvals.

@ Newshounds News™
Source:  Ledger Insights

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Iraq Economic News And Points To Ponder Thursday Morning 5-8-25

The Dinar Is Recovering. The Dollar's Value In Iraq Has Fallen Due To Local Measures.
 
Information/Report...Over the past few days,  Iraqi markets have witnessed a significant decline in the dollar exchange rate against the dinar,  following months of fluctuations and price increases that sparked public concerns and market turmoil.
 
Exchange offices and the local stock exchange in most Iraqi governorates recorded a decline in the dollar exchange rate against the Iraqi dinar on Tuesday, part of a slight and gradual decline that has been ongoing for days.

In the final hours of the closing hours, the exchange rate for $100 reached 143,000 dinars, a difference of 11,000 dinars from the official exchange rate adopted by the Central Bank of Iraq, which is 1,320 dinars to the dollar.
 
The sudden decline has raised questions about its true causes and whether it represents the beginning of monetary stability or merely a temporary decline.
 
Experts believe the reasons are primarily local,  not the result of regional or global developments.
 
In this context, economic expert Abdul Rahman Al-Mashhadani told Al-Maalouma,
 
"Geopolitical conditions, such as tensions between India and Pakistan, typically increase demand for the dollar,
 
but what happened in Iraq clearly indicates that  internal factors are the primary driver of the price decline."  

Al-Mashhadani explained that one of the most prominent of these factors was the
Central Bank's previous decision to regulate the sale and purchase of real estate,
 
which reduced the use of the dollar in real estate transactions, thus easing pressure on foreign currency.

 He also pointed out that   the expansion of banks authorized to process foreign transfers and
the adoption of a balance-enhancing mechanism led to  significant dollar sales exceeding $300 million per day in previous periods.
 
However, much of this money was not used to import goods, but rather remained in external accounts, known as "return," which does not reflect real demand within the market.  

Al-Mashhadani pointed out that  the new Central Bank administration has adopted a more open policy to
 
     regulate the market and
     tightened controls on transfers and currency smuggling, which has contributed to
     strengthening confidence and
     raising the level of foreign exchange reserves.
 
Despite this improvement, observers caution against considering the dollar's decline as an indicator of permanent stability,  especially given the ongoing political and economic challenges and the market's reliance on imports.
 
Any decline in oil revenues or foreign currency inflows is a source of concern.
 
Experts emphasize that sustaining the dollar's decline requires
 
     continuing economic and monetary reforms,
     strengthening the role of the banking sector,
     regulating the parallel market, and
     supporting local production to reduce reliance on the dollar. End / 25s      
https://almaalomah.me/news/98057/economy/الدينار-يستعيد-عافيته-تراجع-سعر-الدولار-في-العراق-بفعل-إجراء   

 
The Dollar Continues To Fall In Iraq. Is The Market Approaching The Official Rate?

Today's Economy , 15:20 | 2691  Baghdad Today – Baghdad  Financial and economic expert Alaa Al-Fahd predicted on Wednesday (May 7, 2025) that  the dollar exchange rate will continue to decline in the Iraqi market over the coming period, noting that
 
the gap between the official price and the parallel market price is close to disappearing. Al-Fahd told Baghdad Today,
 
"The Central Bank of Iraq has taken a series of measures in cooperation with banks,  most notably direct financing of commercial transactions,

which has contributed to narrowing the gap between the official rate and the parallel market rate."

 He added, "The Central Bank's continued coverage of foreign trade and regular dollar sales to banks 
will push the parallel market exchange rate further downward, and we may soon see it reach the official rate."

The local market has witnessed fluctuations in the dollar exchange rate against the dinar over the past few months,
 
with the parallel market rate rising significantly compared to the official rate approved by the Central Bank of Iraq, which is 1,320 dinars per dollar.
 
The reasons for this discrepancy are
 
     restrictions on foreign transfers,
     declining confidence in some banking channels, and
     external influences related to sanctions policies and controls on dollar movement.
 
With the Central Bank's recent measures, expectations indicate a
 
     gradual return to stability and a
     narrowing of the gap between the two rates.     https://baghdadtoday.news/273715-.htm

Chestertons Global Enters Iraq With Baghdad Office
 
Business    Iraq    IraqiNews    May 2, 2025  1364     Baghdad (IraqiNews.com) – In line with its strategic expansion across the Middle East, UK’s Chestertons Global has announced the opening of a new office in Baghdad, Iraq.
 
This marks a significant milestone as the international property brokerage continues to strengthen its presence in the Middle East.
 
The Baghdad office will offer a full suite of property services, including
 
     residential and commercial sales and rentals,
     investment advisory,
     valuations, and
     market research.
 
Chestertons Global’s entry into Iraq is a timely move, as
 
the country’s real estate sector continues its rapid development.
Valued at $1.12 billion in 2024,
Iraq’s property market
     ranks among the largest in the Arab world and
     is expected to grow at an annual rate of 6%.

With over 100 offices across 21 countries, the addition of Iraq strengthens Chestertons Global’s international network
and significantly enhances its capacity to serve clients in one of the region’s most promising markets.       
https://www.iraqinews.com/iraq/chestertons-global-enters-iraq-with-baghdad-office/  

Iraq Increases Condensate Output
 
 Iraq   Amr Salem   May 7, 2025   158      An employee turns a valve at the Nahr Bin Omar natural gas field, north of the southern Iraqi port of Basra. Photo: AFP
 
Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, said in a statement on Wednesday that
 
natural gas output and flared gas utilization projects have increased in Iraq.
 
A statement released by the Iraqi Oil Ministry mentioned that the country’s efforts to lessen gas flaring and satisfy local demand have resulted in the availability of substantial amounts of condensates, reaching about 160,000 barrels per day, according to Reuters.
 
Condensate, a light oil, is mostly used as a mixture for heavy crude or processed in separators to produce naphtha, a petrochemical product.
 
To improve its characteristics, the majority of the condensates generated are mixed with crude oil.
 
Iraq’s attempts to maximize its energy resources and lessen its environmental effect through improved utilization of flared gas have taken a significant stride with the growth in condensate output.
 
As part of the government’s plan to quickly become self-sufficient in gas and energy, Iraq plans to increase the utilization of flared gas wasted in oil operations to 70 percent by the end of 2025.
 
Abdul-Ghani told the state-run news agency (INA) last month that promising projects are underway to
maximize the production and utilization of flared gas in oil fields throughout the country.
 
According to the oil minister, flared gas utilization in Iraq is predicted to rise from its present level of around 67 percent to 70 percent by the end of 2025.
 
As part of the government agenda,  gas flaring is scheduled to completely stop in Iraq by 2028, with efforts being made to turn this wasted energy into useful energy.     https://www.iraqinews.com/iraq/iraq-increases-condensate-output/   

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/