Some "Vietnam News" Posted by Samson at KTFA 10-29-2022

KTFA:

Samson:  Việt Nam forecast to be fastest growing market for centi-millionaires over next decade

27th October, 2022

The fastest growing market for centi-millionaires, who boast US$100 million or more in investable assets, over the next decade is forecast to be Việt Nam, according to The Centi-Millionaire Report.

Under the report released recently by leading international residence and citizenship by investment advisory firm Henley & Partners, with an astonishing 95 per cent growth rate predicted, this emerging Asian manufacturing hub is expected to see a strong growth of centi-millionaires in the real estate, technology, and financial services sectors.

India is next in line with an anticipated 80 per cent growth rate in individuals worth more than $100 million by 2032.

Mauritius has recently emerged as a hot spot for migrating centi-millionaires, with growth of 75 per cent predicted for this safe, business-friendly African island nation. Three other countries on the continent make it into the top league of fastest growing centi-millionaire markets ­in the next decade — Rwanda (70 per cent), Uganda (65 per cent), and Kenya (55 per cent).

­­New Zealand and Australia are also forecast to enjoy exceptional growth with 72 per cent and 60 per cent, respectively.

The US is home to an astonishing 38 per cent (9,730) of global centi-millionaires, despite constituting only 4 per cent of the world’s total human population. The big emerging markets of China and India follow in second and third place, with populations of 2,021 and 1,132 centi-millionaires, respectively. They rank significantly higher than the main European markets by this measure, with the UK in fourth place (with 968 centi-millionaires) followed very closely by Germany in fifth place (with 966).

Punching above its weight, Switzerland ranks sixth on the list with 808 inhabitants worth more than $100 million despite its small size and population. Japan (765), Canada (541), Australia (463), and finally Russia (435) make up the rest of the top ten countries for centi-millionaires.

As Dr. Juerg Steffen, CEO of Henley & Partners, points out, the $100 million plus band represents the best definition in today’s world of what it means to be ‘super-wealthy’.

“The centi-millionaire is someone so affluent that they don’t need to think about how much they spend," he said. "In fact, the level of wealth they have achieved means they are unlikely to ever worry about money again. Not long ago, in the late 1990s, $30 million was considered the fortune needed to meet this definition. However, asset prices have risen significantly since then, making $100 million the new benchmark.”

According to the report, there appears to be no set path to attaining centi-millionaire status; some inherited their wealth while others worked their way up to the $100 million mark. However, the report does point out some notable generational differences. While a growing number of younger entrepreneurs who founded successful tech companies are newcomers to the club, Baby Boomers still tend to dominate the centi-millionaire circle despite many now cashing in their stock options and selling their businesses.

Author, financial writer, and global investment expert Jeff Opdyke says that ultimately, centi-millionaires face the same issue as all investors — they just have more wealth to protect. “A basic tenet of wealth preservation in the 21st century, regardless of wallet size, is diversifying away from the risk of having most or all of one’s assets exposed to a single currency, a single government, and a single legal, taxation, and financial system,” Opdyke said.

He added: “In an era where currencies are burdened by the debts and economic weaknesses of the countries they represent, it doesn’t take much to undermine the status quo. Just look at the British pound. In the span of less than two months, it lost nearly 30 per cent of its value relative to the dollar. That’s a major Western currency. The same can easily happen to the dollar.”   LINK

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Samson:  Việt Nam among the fastest growing economies despite difficulties: economists

26th October, 2022

Economic experts have asserted that Việt Nam's current success was not luck. While early and careful preparation was attributed to the success, many problems need improving, according to economists.

The economists spoke at a seminar on Market Outlook 2022 held by HSBC in Hà Nội on Tuesday.

At the seminar, participants gave opinions and views to look back at Việt Nam during the COVID-19 pandemic. They looked at the country's current and future economic situation. Opening the seminar, Tim Evans, CEO of HSBC, said despite the global challenges, Việt Nam's very much on the move, continuing to perform, even a regional outperformer in terms of GDP growth. 

HSBC raised the GDP growth forecast for Việt Nam in 2022 to 7.6 per cent. Việt Nam's GDP in 3Q 2022 increased by 13.67 per cent compared with the same period last month, when Việt Nam's economy was seriously impacted by COVID-19. 

Due to a broad-based recovery, domestic demand is back on track, and manufacturing and exports continue to roar. As a result, the country registered an 11-year high growth rate of 8.83 per cent in the first nine months of this year.

Tim said that in early September, Moody's upgraded Việt Nam to Ba2. Following an upgrade by S&P, Việt Nam is now only one notch below investment grade. Fitch upgraded Việt Nam to BB in May 2018 and currently has Việt Nam BB rating on a positive outlook.

Lower middle-income Việt Nam wants to become a developed country, reaching high income by 2045. The upper-middle class is expected to grow by an average of 17 per cent until 2030. Moreover, Việt Nam is set to become the 10th largest global consumer market by 2030, bigger than Germany and UK.

In addition, PMI – a measure of manufacturing confidence in the economy – posted 52.5 in September. Although this number was down compared with the previous month, Việt Nam's manufacturing conditions have improved significantly, following the ASEAN's improvement trend, signaling a solid improvement in the manufacturing sector's health.

Tim also recalled a comment on LinkedIn that said: "The US is said to be the land of opportunities, but Việt Nam has the people of opportunity. It's the people that make the difference".  "This is shown in how Vietnamese people dealt with COVID-19 and re-build the economy together as one, as well as through all the highs and lows, overcoming all challenges laid before them throughout their history," said Evans.

Also, at the seminar, Alain Cany, Chairman of EuroCham and Country Chairman of Jardine Matheson Vietnam, told participants that Việt Nam's economy and investment climate are concerned.

Global markets are buzzing too, as the world economy grew 5.5 per cent in 2021, its fastest rate since 1976. As a result, Alain said there was a renewed sense of optimism that we hadn't seen for some time. He mentioned that following Russia's military operation in Ukraine, war and turmoil were brought to Europe's doorstep, and the global economy suffered a serious blow. 

The resulting spikes in energy prices have rippled throughout global markets, driving up commodity prices and disrupting supply chains. As a result, consumer goods, textiles, electronic components, and so on are becoming increasingly expensive and hard to source. Developing, manufacturing-focused countries such as Việt Nam are particularly vulnerable to these pressures. He further said that these impacts would intensify and accelerate as the conflict drags on. For the foreseeable future, risks and uncertainty will remain high.

He also emphasised challenges facing Việt Nam that China continues its lockdowns in the face of the new pandemic reality. According to the Ministry of Industry and Trade, nearly 55 per cent of Việt Nam's raw materials and accessories used in the textile, garment, and footwear industries are imported from China. As long as China continues to pursue zero-COVID ambitions and forces its resulting logistics and supply bottlenecks, Việt Nam will have difficulty obtaining essential inputs like electronic components, machinery parts, fabrics, and chemicals. This threatens Việt Nam's export growth.

Global labour shortages further constrain growth. In 2022, the International Labour Organisation predicts a global deficit in hours worked equivalent to the loss of approximately 52 million full-time jobs worldwide. As a result, Việt Nam struggles to fill the jobs needed to maintain rapid economic growth.

These factors have reduced investor confidence in Việt Nam and worldwide. In Q3 2022, the EuroCham Business Climate Index (BCI) showed decreased confidence in Việt Nam's investment climate, dropping to 62. There have also been downward revisions to international growth forecasts by the UN, the World Bank, the IMF and the OECD. While global uncertainty persists, Việt Nam's prospects are reassuring.

According to Alain, the World Bank predicts a weak 2.8 per cent global growth for 2022, while Việt Nam is expected to grow 7.2 per cent. This has been driven by Việt Nam's young, dynamic, and increasingly tech-savvy workforce of 56 million, making it one of the world's largest labour forces in percentage and absolute numbers.

Considering Việt Nam's high-quality and affordable labour offerings, it's no surprise that foreign investors want to move manufacturing operations here. As a result, export-oriented manufacturing and inbound foreign direct investment are driving Việt Nam's economic growth. As of 2021, Việt Nam's exports accounted for 19 per cent of its GDP, an increase from less than 1 per cent in 2010. In fact, the country's export market has now surpassed Malaysia and Thailand.

He mentioned that Việt Nam needs to simplify business to increase investment, knowledge sharing, and tech transfers. For this, it is an absolute necessity that Việt Nam's legal framework, administrative procedures, and business incentives are given high priority.  Next, public and private investors need to accelerate the green transition. Alain emphasised that since the Việt Nam Government's Law on Public-Private Partnership took effect in early 2021, the number of PPP projects has declined. As a result, in 2021 and 2022, almost no private money was invested in public infrastructure. 

This is because currently, the Government's legal framework is too simplistic, does not clearly define investor rights, and is inadequate for regulating many of the main issues associated with PPPs. Alain hopes the Government will further streamline administrative procedures and develop a comprehensive legal framework so that FDI companies can make a greater contribution.

Meanwhile, Frederic Neumann, Chief Economist of Asia Economic Research Division - HSBC, stated that "dark clouds" are covering the global economy, which is inflation in the US and Europe. There is still no sign of cooling down, accompanied by a strong increase in interest rates by the Fed, which also pushed up the dollar's price.

Another factor that has a great impact on Việt Nam's economic activities is China. The economy is slowing down, the labour market is struggling, consumer spending is falling, and demographic problems are occurring.

According to the latest United Nations Population Fund data, Frederic said China's population growth would peak and then decline. Meanwhile, India's population growth will surpass China's from the beginning of next year and become the most populous economy.

As China's population has been ageing rapidly, the number of working-age people has shrunk. This also has impacted Việt Nam, as the shrinking labour force will pressure wages, workers and industries.

Accordingly, businesses have moved to Southeast Asian countries, including Việt Nam. As a result, Việt Nam is in a strong position to receive opportunities to attract businesses with the advantage of labour. Frederic said Việt Nam's growth rate remains solid, with a six per cent forecast for next year and among the countries with the fastest GDP growth in the world.  LINK

MilitiaMan Friday Afternoon "Prestige Restored" 10-28-2022

KTFA:

Samson:  Washington congratulates Al-Sudani: The Iraqi people deserve an economic opportunity and an end to corruption 

28th October, 2022

The United States congratulated the Iraqi Prime Minister, Muhammad Shiaa Al-Sudani, on his government's gaining the confidence of the Iraqi parliament

US State Department spokesman Ned Price said Washington looks forward to working with the new government to improve services for the Iraqi people and to ensure "a secure, stable, and sovereign Iraq as outlined in our Strategic Framework Agreement

"The Iraqi people deserve an economic opportunity, an end to corruption, and an improvement in public services," Price said in a statement, expressing the United States' welcome for the Sudanese Prime Minister's commitment to placing "weapons under the control of official and legitimate state institutions

The statement reiterated Washington's readiness to work with the Iraqi government and the Iraqi people to address Iraq's challenges together, from "improving respect for human rights to addressing climate change and improving economic opportunities for a growing population

Price stressed that "Iraq is a partner with the United States as it moves forward with reforms  LINK

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The US State Department congratulated Al-Sudani: The Iraqi people deserve to improve services and put an end to corruption  LINK

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MilitiaMan:  The economic opportunities are going to be the internationalism that jump starts the country..

 After yesterdays closure of the "Davos in the Sand" meeting in Riyadh, the ME Summit in DUBAI, the virtual meeting with the AMF about the upgrades and connectivity to the world on the BUNA platform coinciding with the vote on the government gaining confidence is not only amazing, it appears to have been all timed accordingly.

The line up that is geared for digital transformation this last few days shows that it is time for Iraq to getter done.. Very exciting times. imo ~ MM

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Samson:  The European Union for the Sudanese: We support the implementation of the announced reform program and the fight against corruption

28th October, 2022

Today, Friday, the High Representative of the European Union, Josep Borrell, issued a statement regarding the vote of confidence in the new Iraqi government.

Borrell said in a statement received by Mawazine News, that "the European Union congratulates Prime Minister Muhammad Shiaa al-Sudani on the successful vote of confidence for his government in the Iraqi parliament."

He added, "It is a good day for Iraq and for relations between the European Union and Iraq, and an important step towards securing Iraq's stability and prosperity." "The European Union looks forward to working closely with the Prime Minister and his government, supporting the implementation of the announced reform programme, and fighting corruption," Borrell said.
 
He noted, "In this context, the European Union reiterates its readiness to host the Cooperation Council between the European Union and Iraq at the earliest opportunity." And Borrell said, "The European Union will continue to support Iraq, including the sovereignty, unity and territorial integrity of Iraq." LINK

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European Union : Giving confidence to the Sudanese government is an important step towards securing Iraq's stability and prosperity  LINK  

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Asia and Digital Finance... Headlines of the Closing Day of "Davos in the Desert" LINK

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MilitiaMan:  The EU has already done a currency swap if I recall that correctly Samson? The above meetings in the Desert will all likely have the saem DIGITAL TRANSFORMATION on the MIND..

The EU is not the only supporter for the implementation of announced reform program. All those at the meeting in the Davos in the Sand, the ME Investor Summit and the BUNA Platform all on the back and the same day they voted on the Cabinet and received support from the world with respect for security, stability and sovereignty.

So when the world reacts the way they did this week we now will see the results of the meetings and the vote. Iraq has the worlds attention and the citizens too know and expect their constitutional entitlements.. Looking good.. oh yeah... ~ MM

Samson:  Taif Sami assumes her duties as Minister of Finance

28th October, 2022

Taif Sami took over this morning, Friday, her duties as Minister of Finance in the government of Muhammad Shia Al-Sudani.

The government of Muhammad Shia Al-Sudani won the confidence of Parliament yesterday evening, Thursday, and the candidates for 21 ministries were voted on, and the vote on two ministries was postponed to a later time, and Taif Sami occupies the position of Minister of Finance in the new cabinet line-up.

She was the Acting Minister of Finance in Al-Kazemi’s government, after the parliament’s decision to cancel the assignment of the then Oil Minister, Ihsan Abdul-Jabbar, to run the ministry by acting instead of the former minister Ali Allawi, who resigned from his position last August.  LINK

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MilitiaMan:  We have the Finance Minster all set and ready to get financial work off and running under the new government. Good deal, she will be working in tandem with the Central Bank. What timing... imo ~ MM

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Samson:  Al-Amiri to the Sudanese government: I will not compliment you

27th October, 2022

The leader of the Al-Fateh Alliance, Hadi Al-Amiri, stressed on Thursday that he would "diagnose" any failure by the new Prime Minister, Muhammad Shia Al-Sudani and his government, and "will not be complimenting at the expense of the Iraqi people."

Al-Amiri said in a statement received by Shafaq News Agency, after the parliament voted to grant confidence to the Sudanese, his government and his government program, "We congratulate our people for the emergence of the new national government, after a difficult labor marred by many factors of suffering, pain and frustration."

He added, "While we are very hopeful that the new government will succeed in implementing the vocabulary of its announced curriculum, we express our full readiness to extend a helping hand and help it to proceed on this path," adding, "We also declare that we will not hesitate for one moment to point out the sites of defects." We will not be complacent about that at the expense of our people’s interests and true aspirations.”

Al-Amiri stressed, "While we reaffirm the necessity to attach great importance to the service aspect in its various details, and to reconsider the financial, economic and administrative policies of the Iraqi government, we call on it to exert utmost diligence in finding job opportunities for the unemployed, focusing on the disadvantaged classes, and improving the service and living conditions of the most affected and deprived regions and groups."

Al-Amiri called for “restructuring the foreign relations of the Iraqi state based on the criterion of ensuring the legitimate interests of the Iraqi people, mutual respect for sovereignty, and non-interference in Iraqi affairs or taking Iraq as a starting point to threaten its neighbors. We also reaffirm Iraq’s right to contract under agreements or memoranda of understanding with eastern countries Whether it was a Western mother, in a way that guarantees his higher interests away from placing restrictions or attempts at blackmail.”

He stressed that "it is necessary to reiterate, on this occasion, the inevitability of exerting maximum efforts by the new government and adopting a firm policy to stop the state of financial and administrative corruption, return the looted funds, deter the corrupt, as well as restore the state's prestige and respect for its security services and government departments, and the rule of law over all without exception." 

The Iraqi parliament held a session this evening, Thursday, during which it voted to grant confidence to the Prime Minister, Muhammad Shia Al-Sudani, and his government ministers, as well as the government curriculum that he presented in the session as a work program.  

"Prestige is like honor in that it refers to the perception other countries have of a nation’s worth or value, and the respect it is due."

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MilitiaMan:  The US is not the only country that is looking for Iraq to have her prestige restored.. All the articles Samson has brought today support that the region and the world are supporting Iraq's reemergence to the Global Stage. She will need all the prestige she can muster.. Her assets have been well documented and are massive in totality. Her prestige should be a very welcome sight to behold.. imo ~ MM

Some "International News" posted by Samson at KTFA 10-28-2022

KTFA:

Samson:  Asia and Digital Finance... Headlines of the Closing Day of "Davos in the Desert"

27th October, 2022

The global debate and questions about the future of digital currencies and whether we will witness a complete transformation towards the digitization of currency and dealing with virtual money, and many aspects of its future are being traded and placed on the agenda of the third and final day of the sixth edition of the “Future Investment Initiative” forum in Riyadh under the slogan “Investing in Humanity” Enabling a new world order.

Digital payments

The forum began the first session of the third day to talk about transforming banking and investment businesses for a resilient economy, during which the CEO of the Saudi Export-Import Bank, Eng. Saad Al-Khalb spoke.

During the session, the discussion revolved around the fact that technology continues to affect banking and financial practices as the economy begins to transform in the post-Corona pandemic world, and its global economic consequences, and the World Bank’s assertion that two-thirds of adults around the world now make or receive their payments in the manner At the same time, the rise of small investors is transforming investment fields around the world.

The session touched on the trends of digitalization in investment and that existing banking services will remain, and what is its impact on the future of private investment and digital banking services, and how banks have responded to the changing habits between consumers and companies.

The CEO of the Saudi Export-Import Bank also referred to his country's role in providing logistic services and explained that the logistics initiative enables global trade through the use of capabilities because its geographical location is a strategic center linking three continents with an integrated system interconnected with Africa.

The last day will witness the holding of mini sessions on the rise of digital currencies "crypto" and the future of the African continent, with the participation of a number of speakers from China and Hong Kong to discuss the importance of partnership between China and the Middle East, and another session on the future of environmental and social governance.

China's back

During the past years, the Chinese economy was able to reach an unprecedented level of wealth and development, and its upward trajectory was to continue, but political pressures and the Corona virus crisis made it slow down.

At the forum, Mina Al-Araibi, editor-in-chief of the Emirati newspaper "The National", will discuss a number of Chinese and international business leaders in a session entitled "China is Back". It talks to them about how the Middle East can cooperate with China and consolidate its position as an important bridge linking East and West, and what is China's position in the new world order.

With the world going through endless crises, the forum discusses in a session entitled “How do investments behave during a market correction?” Is there anything investors can do to prepare during such times, and what can investors do to build resilience in all markets .

Future of trade

The forum discusses one of the most important topics, which is who will lead trade in the future? And the role of owners of small and medium-sized enterprises, which provide 70 percent of all jobs in OECD countries, and 50 percent of GDP in rich countries, and the updates they went through during the Corona period, which lost at least 70 percent of small businesses and medium-sized enterprises in 32 countries between 30 and 50 percent of their profits.

During the past two days, the forum sessions witnessed crowds with the attendance of 6000 participants from countries around the world and 500 speakers from different sectors. Its time on all economic and social levels.

On the sidelines of the sixth edition of the Future Investment Initiative, the National Center for Industrial Development signed a memorandum of understanding with Essar. The agreement aims to study the development of the integrated complex of iron flats in Ras Al-Khair Industrial City, which is the first industrial project to produce green iron in Saudi Arabia.   LINK

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Samson:  Putin warns the West: Whoever sows the wind reaps a storm, and this is our position on nuclear weapons

27th October, 2022

Russian President Vladimir Putin stressed, on Thursday, that the world is going through a historical turning point, the most dangerous and important since World War II, indicating that Russia does not need to launch a nuclear strike on Ukraine and it is useless, whether militarily or politically.

In a speech to the Valdai forum, Putin said, "The situation in the world is heading towards the worst scenario, as the West ignited the war in Ukraine and committed a number of systematic errors, ignoring the interests, values ​​and cultures of other countries."

He added that "the crisis affects everyone now, and there are no illusions... Humanity has two paths, either to move towards collapse or to work on a new system together."

"Events have pushed environmental issues into the background, at a time when these fundamental threats have not disappeared and the ecological imbalance remains a challenge for everyone," Putin noted.   LINK

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Samson:  Iraq supports Putin's call to change the structure of the United Nations and the Security Council

27th October, 2022

The Permanent Representative of Iraq to the United Nations, Muhammad Hussein Bahr al-Ulum, stated that Iraq supports the call of Russian President Vladimir Putin to think about changing the structure of the United Nations and the UN Security Council.

"Great efforts are being made to reform the United Nations. We support any reform of the United Nations and the Security Council. The United Nations International Committee is working in this direction," Bahr Al-Uloom said, on the sidelines of the IAEA Ministerial Conference.

On Thursday, at the Valdai International Forum, Russian President Vladimir Putin called for reflection on how the renewed structure of the United Nations and the UN Security Council would reflect the diversity of the world's regions. The Russian leader stressed that "more" will depend on regions such as Asia, Africa and Latin America in the world of tomorrow more than it does today in general. LINK

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Samson:  On charges of financial corruption, the director of Darbandikhan Electricity was arrested

27th October, 2022

The Sulaymaniyah Police Directorate announced, on Thursday, the arrest of the director of Darbandikhan electricity distribution in the province, on charges of financial corruption.

"Today, the director of electricity distribution in Darbandikhan district was arrested by a judicial decision, against the background of the disappearance of electric power transmission towers," Sulaimaniyah police spokesman Sarkot Ahmed said, in a press statement seen by Shafak News Agency.

He added, "He is currently detained under Article 316 of the Iraqi Penal Code, which deals with waste of public money."

He pointed out that "one of the organizations donated a number of electric power transmission towers to the Directorate of Electricity Distribution in Darbandikhan, but the director did not deal with them according to the legal contexts.  LINK

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Samson:  With the participation of Iraq.. The start of the meeting of Arab Ministers of Economy and Trade in Algeria 

28th October, 2022

The meeting of Arab economy and trade ministers began today, Friday, in the Algerian capital, with the presence of Iraq

And the official news agency stated, "The meeting of the Council of Arab Trade and Economy Ministers began in the Algerian capital, with the participation of Iraq

She added, "The ministers will discuss a number of works that have been prepared by the economic and social committees, including the rules of origin, the customs union, the Arab free trade zone, and the report of the Secretary-General of the Arab League  LINK

Samson:  What future awaits the Egyptian pound after the flotation?

28th October, 2022

The Egyptian pound took a new step towards complete liberalization against the US dollar, as the exchange rate of the Egyptian currency reached about 23 pounds for every dollar in local banks, whether state-owned or private.

Analysts and specialists differed in evaluating the downward movement of the Egyptian pound, and about whether it was a complete or managed liberalization subject to the control of the Central Bank, at a time when they agreed on a continuous decline in the value of the Egyptian currency.

On Thursday, October 27, Cairo announced the completion of the agreement with the International Monetary Fund at the expert level to obtain financing amounting to about $9 billion, including $3 billion directly from the Fund, in addition to $1 billion from the IMF’s debt fund. Cash, and $5 billion from development partner countries and various financing institutions.

Expected

Commenting on what happened, Rania Yacoub, a specialist in the Egyptian financial markets, believes that the decline of the Egyptian pound against its American counterpart is expected, especially with the Egyptian government ending the loan agreement, explaining that "the relationship between the pound and the dollar, down and up, will remain according to the forces of supply and demand until the end of next week."

Yacoub attributed this to the state of confusion in the economic environment today, as it included successive events between moving interest rates by 200 basis points, which is equivalent to two percent, or floating the local currency by liberalizing the exchange rate of the pound against the dollar, and finally completing the agreement with the International Monetary Fund. .

Yaqoub expected that commodity prices would witness a significant increase in the coming period following the decision to float, pointing out that "the prices during the last period were already inflated, given that importers were making their future deals at the price of the dollar, which ranges between 22 and 24 pounds for every dollar."

Reports by Bloomberg Agency last week indicated that the price of the US dollar may reach the level of 24 pounds for every dollar if Cairo implements a complete liberalization of exchange rates.

Orbit float

For her part, former Vice President of Banque Misr Sahar El-Damaty said that "the Central Bank of Egypt's announcement of a flexible exchange rate for the Egyptian currency against foreign currencies according to the forces of supply and demand came as a result of the demands of investors and specialists as one of the recommendations of the economic conference that was held this week."

Al-Damaty explained that “the direction of the Central Bank to deal with a flexible exchange rate according to supply and demand will be a managed liberalization subject to the control of the Central Bank, to avoid the effects and inflationary shocks, as it targets price stability,” considering that the exchange rate movements today “are not considered complete liberalization,” noting that "what supports this is raising interest rates by two percent to fight inflation, and then followed by government banks by issuing savings certificates at an interest rate of 17.25 percent to curb liquidity and provide indirect financial support to the owners of savings certificates, as pensioners and the family sector represent the most prominent investors in these certificates." 

The Central Bank of Egypt has moved interest rates by five percent since last March during three meetings, which began during an extraordinary session on March 21 by raising interest rates by one percent, then another decision in May to move by two percent. Then, price levels were stabilized for three consecutive meetings before raising interest rates again today, Thursday, to reach interest rates levels to 13.25 percent, 14.25 percent and 13.75 percent, respectively.

Inflation levels in Egypt reached a record level for the first time since 2018, after recording last September about 15 percent, compared to about 14.6 percent in August.

Increasing the interest rate on savings certificates

Meanwhile, government-affiliated banks issued savings certificates for a period of three years with an annual return of 17.25 percent, and the Assets and Liabilities Committee in the bank decided to increase the interest rate on the platinum certificate with a monthly return to become at a return of 16 percent annually instead of 14 percent, starting today for new or Renewed automatically, and Banque Misr raised today, Thursday, the interest rate for issuing the summit certificate for a period of three years, with an annual return of 17.25 percent.

Meanwhile, the non-deliverable contracts for the Egyptian currency for a period of three months declined further after the government committed to a flexible exchange rate system within the framework of an agreement with the International Monetary Fund. Every dollar, while there was little change today on the prices of Egyptian government bonds in dollars, according to "Reuters".

Inflation rates

For his part, a specialist in banking affairs, Hani Aboul Fotouh, said that “the Central Bank’s decision to raise interest rates, by 200 basis points, was a sudden and unexpected step during an exceptional meeting and surprised markets and analysts,” explaining that “the recommendations confirmed the flexibility of the exchange rate to reflect the market dynamics of supply.” And demand as a tool to absorb external shocks, and work to activate the derivatives market for currency and futures contracts as a hedging tool against the risks of exchange rate fluctuations, and to issue an index for the Egyptian pound denominated in some currencies for the most important trading partners and gold.”

Aboul Fotouh added that "the rate of domestic liquidity is high, as the volume of liquidity reached about 6.708 trillion pounds (289 billion dollars) at the end of last July, in addition to expectations that the inflation rate will continue to rise globally and locally with the secondary effects of supply shocks," noting that it had It leads to a rise in inflation rates on average during the fourth quarter of 2022.

Commodity price hike

For his part, the analyst in the Egyptian financial markets, Wael Al-Nahhas, said that “the prices of the Egyptian pound against the dollar will continue to decline until it reaches about 27 pounds for every dollar,” explaining that “the International Monetary Fund loan of 3 billion dollars will not meet the needs of importers and investors in The local market," noting that "the value of goods stuck in Egyptian ports as a result of the scarcity of the dollar has reached $20 billion."

On the impact of the currency’s decline and raising interest rates today on the markets and prices of commodities and products, Al-Nahhas said that “the Egyptian markets have been dependent for months on the strategic stockpile of commodities that have almost run out as a result of the goods stuck in ports due to the continuation of the documentary credit system by the Central Bank, before announcing relieve it today.

At the beginning of last March, the Central Bank of Egypt stopped dealing with collection documents in import operations and worked under the documentary credit system instead, with the exception of 15 basic commodities, which created a crisis among importers for their inability to provide foreign currency.

The decision caused an accumulation of goods inside Egyptian ports, and its effects began to be reflected on the local market, especially with regard to the scarcity of some goods and the tendency of traders to raise their prices in record rates across commercial sectors, before the Central Bank announced today easing the severity of the decision after its gradual cancellation of the instructions issued in the February 13, 2022 for the use of documentary credits in import financing operations until the completion of its complete cancellation in December 2022.

In an official statement, the Central Bank excluded shipments amounting to 500 thousand dollars instead of 5 thousand dollars from the documentary credits decision.

Commenting on this, Amr Al-Samdouni, Secretary of the International Transport and Logistics Division of the Cairo Chamber of Commerce said that "the decision to work with documentary credits up to $500,000 instead of $5,000 will lead to a major breakthrough in the exit of goods piled up in ports and thus revitalizing the markets."

Al-Samdouni added that "everyone who now has a container of less than $500,000 will be able to get it out of the ports and put it on the market," noting that "there were containers worth $10,000 and $50,000 that were idle and stored in the ports as a result of not opening a letter of credit for them, and therefore Every merchandise below $500,000 will leave the ports."

On prices, he explained, "There may be increases as a result of the rise in the exchange rate, but they will not be in large proportions," stressing that the rise in commodity prices during the last period "was not subject to economic criteria, but to the greed of traders."  LINK

KTFA Members "Thursday News" 10-27-2022

KTFA:

Clare:  The House of Representatives grants confidence to the Sudanese cabinet

10/27/2022

Members of Parliament began voting on Muhammad Shia'a Al-Sudani's government booth in succession.

Members of Parliament voted to grant confidence to Fouad Hussein as Deputy Prime Minister and Minister of Foreign Affairs, and to grant confidence to Muhammad Ali Tamim as Deputy Prime Minister and Minister of Planning.

Parliament also voted to “grant confidence to Hayyan Abdul-Ghani Abdul-Zahra Al-Sawad as Deputy Prime Minister and Minister of Oil, as well as granting its confidence to Taif Sami Muhammad Al-Shakarji as Minister of Finance.”

Parliament also voted to "grant its confidence to Thabet Muhammad Saeed Reda Al-Absi as Minister of Defense and to grant its confidence to Abdul Amir Kamel Al-Shamri as Minister of the Interior."  LINK

Samson:  Buna Platform For Arab Payments Holds The 37th Interactive Workshop "Remotely"

27th October, 2022

Briefing on the most important developments regarding the platform's strategic partnerships and updates on its services

Announcing during the workshop a major step to create a central platform for instant payments systems in the Arab world

A wide presence that includes more than 200 participants from representatives of central banks, regional and global financial and banking institutions

Abu Dhabi, October 26, 2022: The “Bunni” platform (the payment system operated by the Arab Payments Clearing and Settlement Regional Corporation, owned by the Arab Monetary Fund) will hold on Thursday, October 27, a “remote” workshop for the participation of platform members, banks and financial institutions participating in the workshop , the most important developments regarding its strategic initiatives.

The workshop program includes a number of topics related to the Buna system and its main developments, including Buna's approach to dealing with the risks of electronic threats, in addition to some important updates on the platform's services during the recent period, which would keep pace with the continuous growth of the needs of participating banks regarding the level of service support provided. Them and multiple improvements to system functionality.

The workshop hosts more than 200 participants representing central banks, financial and banking institutions, payment service providers and financial services from the Arab region and beyond.

On this occasion, Mr. Mahdi Manea, CEO of the Corporation, said, “We are happy to achieve tangible and continuous progress in the platform services and its strategic partnerships. We can share these developments with the community of banks participating in the platform in each interactive workshop, which reaffirms our strategic goals represented in: Enhancing opportunities for economic and financial integration in the Arab world, in accordance with international standards and best global practices.

He added, "This edition of our monthly interactive workshops includes many topics of importance, including enhancing cybersecurity, expanding the functions and advantages of the system, providing more flexible support services to participating banks, in addition to announcing a major step to create a central platform for instant payments systems in the Arab region and the world, and we look forward to Extensive participation in this interactive workshop.  LINK

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Samson:  Alia Nassif: The first accused in (the theft of the century) has a partnership relationship with a minister and his nephew

26th October, 2022

Representative Alia Nassif confirmed that the first suspect in the theft of tax deposits (the theft of the century) has a partnership relationship with a minister and the minister's nephew, and all of them are involved in corruption deals related to the Faw port, calling on the security authorities and the judicial authority to prevent them from traveling.

And she said in a statement today: "The main accused in the case of the theft of the century, Nour Zuhair Jassim (Abu Fatima), has a relationship with (a minister) and the minister's nephew (A.A. H), in addition to (A. Al-Rubaie), and all of them have a direct relationship to the corruption deal. Al-Faw port, where the accused, Nour Zuhair, was directly responsible for negotiating with the minister and (A. Al-Rubaie), and through him a 25% reduction of the deal was made.

 Noting that the minister's nephew was the one who helped the accused, Nour Zuhair, obtain approval for the private plane to arrange his escape abroad."

Nassif stressed "the necessity of issuing a decision banning the travel of everyone whose name was mentioned until the investigations are completed, especially the minister, his nephew and (A. Al-Rubaie), because there is news that they will flee to Dubai."  LINK

Samson:  A deputy is likely to return the tax deposits to the treasury within a month

26th October, 2022

Independent MP Hussein Arab expected that the judiciary and investigative bodies would finish the case of the theft of the century within a month, and the money would return to the state treasury.

Arabs said, in statements followed by "Al-Maalouma", that "the House of Representatives has begun to have a strike hand on all projects that are tainted by corruption, especially through the representatives who have properly devoted themselves to this file."

He revealed that there are ten accused so far in the theft of the century, but there are big heads who will join them, and many names will be in the accusation circle after completing the investigation with the first accused in this case.

He noted that the matters being investigated are not movable funds, but real estate and must be seized, adding that it is impossible to seize all the looted funds, but what the accused confessed, and work is underway to obtain more information to return as much as possible. From money to the state, especially since the theft is deep, and many large parties stand behind it.   LINK

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Samson:  A banker was killed in an armed robbery and news of a "big" robbery took place in Baghdad

25th October, 2022

A security source reported on Tuesday that a money exchanger was killed in an armed robbery in the capital, Baghdad.

The source told Shafaq News Agency, "Unidentified gunmen stormed a money exchange shop in Karadat Maryam area in Baghdad, and opened fire on its owner, killing him on the spot."

The source pointed out that "there is information about a major theft."   LINK

Wednesday Night KTFA CC "A New Day....A New Gevernment" 10-26-2022

KTFA Wednesday Night CC

Frank26:  10-26-22….A NEW DAY….A NEW GOVERNMENT

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Petra, MilitiaMan and Eddie in Iraq

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=AZlsh_3ORgk

MilitiaMan Wednesday PM " Private Sector Needs to Hit the Ground Running 10-26-2022

KTFA:

MilitiaMan:  Now this surely looks like an after the fact conference to me.. (See articles below) Once they decide to adjust the exchange rate, then we will have a need for the private sector to hit the ground running.

Everyone knows that. We know that why? The Kuwait conference.. The article of late have been thick about changing the exchange rate, deletion of the three zeros and to a lesser extent but relevant are the small category notes.

The latter is to be a necessity with an exchange rate change. The likes of the CBI to revert back to 1200 makes absolutely no sense at all.

It would like fire the street up like no other. The citizens expect purchase power not a slap in the face.. The private sector will never get off the ground with out an international IMF Article VIII compliant currency.

1200 will not make muster.. EVER... imo.. Lets watch the vote session at 2:00 pm Baghdad time tomorrow. Lets see the GREEN LIGHT for INFRASTRUCTURE shine... imo ~ MM

Samson:  A conference in Dubai to advance the reality of the private sector in Iraq

26th October, 2022

The Iraqi-British Business Council (IBBC) announced the holding of a large conference under the slogan (Iraq and identifying business opportunities for the private sector).

Christoph Michaels, Director of the Iraqi British Business Council IBBC, said in a press statement today that the conference will be held in Dubai and will bring together official government figures from Iraq, the UAE and Britain, in addition to representatives from major companies operating in those countries and international companies.

He stressed the participation and attendance of the Governor of the Central Bank of Iraq as a key speaker in this conference.

He explained that the conference sessions will cover the sectors of industry, finance, water resources and the environment.

He pointed out that the main objective of the conference is to advance the reality of the private sector in Iraq to build an economy capable of providing job opportunities for all Iraqis away from the public sector.  LINK

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IBBC focused on 'Iraq - Identifying Business Opportunities' in Dubai conference 10 & 11 November 2022

24th October, 2022

After a year it now appears, the Iraqi government is forming led by PM designate Mr Mohammed Al Sudani under President Abdul Latif Rashid. There are significant implications for this development not least the green light for Infrastructure projects and how the government might apportion the current oil revenue surpluses.

This year's IBBCs Dubai Autumn conference comes at an auspicious time where several Government ministers and officials will be present to discuss the new opportunities and expected agenda for the new government.

Key speakers include H.E. Dr Abdulkareem Al Faisal, Chairman of PM's Advisory Council; H.E Mr. Mustafa Ghalib Mukheef, Governor of the Central Bank of Iraq; H.E. Mr Asaad Al Eidani, Basrah Governor; Mr Laith Al-Shaher, Director General of the Legal, Directorate, Ministry of Oil; Dr Mohammed Shukri, Chairman of the Kurdistan Investment Board; H.E Mr Assad Al Eidani, Governor of Basrah; and more DG's and ministers expected to attend.

In the private sector, Iraq has a bullish consumer market that is struggling to meet demand, as our sponsor Sardar Trading are finding with demand for their Jaguar cars and all over Iraq the consumer private sector is expanding rapidly. Likewise, oil revenues and production are booming and set to increase significantly over the next few years, as Mr Zaid Elyaseri,  BP President-Iraq and Dr Salem Chalabi, President & Chairman of the Trade Bank of Iraq will be outlining likely Government and business strategies.

For the first time the conference is extending over 2 days to accommodate more networking and a special Basrah day, celebrating its business and energy importance with leading organisations, Ministers and high-ranking officials from Iraq. The KRG will feature its investment plans, its businesses and the UAE and the UK Ambassadors and trade officials will attend. There are conference panels on Finance, Energy, Industry & General Trading and business success stories including in Transport & Logistics. There is also a Tech Forum online to which anyone can register and covering very innovative and interesting subjects including Education Tech, Agriculture and Water technology and overviews on the digital and start up economy. 

As Iraq's finances are now in a robust shape with high oil revenues, the Government and private sector are finding funds to invest with more confidence. In a previous meeting with Director Generals of Iraq Oil Ministry, IBBC learned of the extensive and intended expansion of energy production in Iraq, that will serve to drive supply chain and governmental contracts over the coming months and years. Sardar Trading are key sponsors of the conference and have recently opened their new showroom in Baghdad and launching the new I-Pace at the same time.

Preceding the conference on the 9th November at the Address Hotel, Dubai Maria, IBBC members are participating in a special GEMS Consult International Education conference day. The conference aims to bring together stakeholders, government, and the private sector, to address challenges facing the education system in Iraq and to explore potential solutions. In particular, the conference will provide a forum for collaboration between government and the business sector in developing innovation, improvements, and change. Several international educational institutions with interest in Iraq will be attending this conference.   LINK

MilitiaMan "Let's See if This is the Final Countdown" 10-26-2022

KTFA:

MilitiaMan:  Lets see if this is the final countdown.. Last day of the month is Monday next. Things apparently may have gotten started on the 20th - 21st of this months electronically.

There are very big meetings in Saudi Arabia this week and in Dubai..  They are full of the most powerful entities in the world.

The legitimacy of the Iraq Government by having a seated government through the Cabinet of the Prime Minister tomorrow could be the shot heard around the world. It is a necessary item. If it were not?

Then we wouldn't be seating here waiting, we would all be doing the next move, starting a new.. imo We are watching a historical event unfolding.. I like it.. A lot.. lol .. imo ~ MM

Samson:  Al-Halbousi sets tomorrow, Thursday, the date for the session of granting confidence to the Sudanese government

26th October, 2022

The House of Representatives confirmed that tomorrow, Thursday, a voting session will be held on the ministerial curriculum and the cabinet for the government of Prime Minister-designate Muhammad Shia Al-Sudani.

And “Mawazine News” received a document that included the response of the Speaker of Parliament, Muhammad al-Halbousi, to Al-Sudani’s request to set a date for the session:   LINK

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Parliament sets tomorrow as a date for voting on the ministerial curriculum and the cabinet for the Sudanese

26th October, 2022

The Speaker of Parliament, Muhammad Al-Halbousi, has set at two o'clock tomorrow, Thursday, the date for the voting session on the ministerial curriculum and the cabinet for Prime Minister-designate Muhammad Al-Sudani.  LINK

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After the amendments.. Parliament officially sets Thursday to vote on the Sudanese government   
26th October, 2022

The Speaker of the Iraqi Parliament, Muhammad al-Halbousi, has set tomorrow, Thursday, Thursday, a date for holding a session of granting confidence to the government of Prime Minister-designate Muhammad Shia al-Sudani, after amendments he made to his first book, and re-sent it again.

According to Al-Halbousi's marginalization, on Al-Sudani's latest book, which was reviewed by Shafak News Agency, the Speaker of the Council set tomorrow, Thursday, a date for holding the session, and also directed the formation of a committee to study the ministerial curriculum for the Sudanese, and another to study the CVs of the government cabinet.

Earlier today, Parliament rejected the first request submitted by the Prime Minister in charge of forming the government, Muhammad Shiaa Al-Sudani, to hold a session of granting confidence to his government tomorrow, Thursday, before the latter rectified the situation, amended his request and sent it back to be accepted by the Presidency.  LINK

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AMAON:  With the participation of Iraq.. the start of the work of the Arab Summit Council at the level of permanent delegates in Algeria

26th October, 2022

Today, Wednesday, the 31st Arab Summit began in Algiers.

A source that was followed by (Al-Oula News) stated that "the work of the thirty-first Arab summit began with the meeting of permanent delegates and senior Arab officials," noting "the participation of Iraq's permanent representative in the Arab League and Iraq's ambassador to Egypt, Ahmed Nayef Al-Dulaimi."

She added, "The summit meeting will discuss a number of items and they will be submitted to Arab foreign ministers next Saturday, with the participation of Foreign Minister Fouad Hussein."  LINK

MilitiaMan Tuesday Evening "Follow The Money" 10-25-2022

KTFA:

Samson:  With 14 bags .. Al-Sudani intends to enter Parliament next Sunday to obtain confidence

25th October, 2022

The State of Law coalition confirmed, on Tuesday, the intention of the Prime Minister-designate, Muhammad Shiaa Al-Sudani, to go to the House of Representatives next Sunday to obtain confidence, noting that Al-Sudani has completed 14 ministries so far.

The leader of the coalition, Jassim Muhammad Jaafar, said in a statement to "Al-Maalouma", that "the Prime Minister-designate, Muhammad Shia' al-Sudani, tried to avoid the October demonstrations and did not specify the session during the past days, in conjunction with calls for protests." Jaafar added, "Al-Sudani has settled 14 ministries and they will be announced in the coming days and then voted on in Parliament to give the government confidence."  

He pointed out that "next Sunday will be a date for the parliament session, and after voting on 14 ministries, it will be completed comfortably during the next week." 

Independent MP Hussein Arab had confirmed in a previous statement to "Al-Maalouma", that the official announcement on the new cabinet will be next Thursday, noting that the independent representatives will not have any representation in the next Sudanese government.   LINK

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At Al-Abadi's house... an "important" meeting of the leaders of the coordination framework for sharing the cabinet

25th October, 2022

An informed political source said, on Tuesday, that the leaders of the comprehensive coordination framework of the Shiite forces, with the exception of the Sadrist movement, are now holding a meeting at the house of the leader in the framework Haider al-Abadi to complete the government formation.

The source told Shafaq News Agency, "An important meeting is to complete the distribution of the twelve ministerial portfolios of the Shiite component, and their sharing between the framework blocs and parties." And he indicated that "the distribution of ministries will be in coordination and consultation with the Prime Minister-designate, Muhammad Shiaa Al-Sudani."

Earlier today, the State of Law coalition led by Nuri al-Maliki revealed the number of his ministerial portfolios in the upcoming government headed by Muhammad Shiaa al-Sudani.

The leader of the coalition, Fadel Mawat, told Shafak News Agency, "According to the electoral weight, the share of the State of Law coalition in the Sudanese government is four ministries, but we have always been (Umm Al-Walid) and all of our concern is to form the government and speed up resolving this file, as we will have only two portfolios in the government." new".

And he indicated that "the State of Law coalition will have the Ministry of Higher Education, and perhaps with it the Ministry of Transport or Labor and Social Affairs, and this is subject to the dialogues that are currently taking place between the blocs and parties and the Prime Minister-designate."

While the other framework blocs got the rest of the twelve ministries,

And yesterday, Monday, the leader in the coordination framework, Fadi Al-Shammari, revealed to Shafaq News Agency, "The news that talks about the existence of a political agreement to pass half the government during a parliamentary session to be held this evening (yesterday), is incorrect and there is no such approach or agreement at all." He added, "Next Wednesday is the semi-final date for a vote of confidence in the government of Muhammad Shia al-Sudani, and government consultations for the prime minister-designate are in their final touches."  LINK

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The central bank resolves the controversy over the dollar exchange rate plan

24th October, 2022

On Monday, the Central Bank of Iraq resolved the controversy over reducing the value of the dollar against the dinar, in response to a report by a member of the Parliamentary Finance Committee, Nermin Maarouf.

Nermin said in a statement she received (Al-Oula News) a copy of, "A few days ago, as the Finance Committee in the House of Representatives, we asked the Governor of the Central Bank about rumors of a depreciation of the dollar against the dinar, in response to a report we sent."  

The deputy added, that the central bank replied, "that it does not intend to change the value of the dollar for several reasons, as the current exchange rate of the dollar achieved some positive results and reduced the government budget deficit to a good degree, although the government was able to pay off some of its internal and external debts."  

The bank explained, according to Nermin, that "changes in the dollar exchange rate in the near future will create a state of instability in the currency market, cause distrust of the dinar, negatively affect economic activity and the investment situation, and increase speculative activity in the currency."  

The bank’s answer also stated, “The devaluation of the dinar against the dollar will enhance the competitiveness of local products and reduce the demand for foreign imports.”  

The bank stated, “With regard to the negative impact of the current dollar exchange rate on people’s livelihoods, especially for the poor, the central bank believes that the government can provide aid and assistance to these groups and improve food stamps to mitigate the consequences of dollar appreciation instead of returning it to its old value.”   LINK

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MilitiaMan:  They are clearly trying to keep everyone on the back foot for a purpose.. Just like the rehashed articles about not changing the exchange rate again (like the above), when they clearly have every intention of doing so.

There are at least 4-5 that counter the calls for not to change the exchange rate.

They printed new notes in 2018 to the tune of $500 million real close, it is the Governments program to new currency issuance and therefore, the date of the cabinet not disclosed consistently is used to keep those in expectation of that at bay until the final moment.. imo...

I like what I am seeing this week.. This month is coming to a close and the world is liking the progress. The calls for assurances have been many.

There are repercussions for not seating the government.. They all know it..  Far to costly not to get it done now.. imo ~ MM

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Harvester:  All these news articles that come in all day long IMO are like a dust storm, which I am sure Iraq is familiar with lol. But then MM posts and it is like the dust clears and we find we are still moving on the right path in the right direction. So appreciate and look forward to your afternoon posts MM. Thank you

MilitiaMan:  Thank you too. I am glad to help. Lets see what the next couple of days bring us.. From the looks of it there is serious anticipation for the GOI to have a vote on the cabinet.. There are side bar things that are going on in the Middle easy starting tomorrow..  Of which has implications to Viet Nam imo as well.. The middle east and emerging markets are going to explode again into next year. Much is likely to hinge on what we see in the short term.. Follow the money... imo ~ MM

"Corruption and Arrests -iraqi News" Posted by Samson at KTFA

KTFA:

Samson:  Interior Minister: We arrested one of those "involved in stealing tax money" while trying to escape from Baghdad airport

24th October, 2022

Iraq is a trust in our necks and we will not allow the theft of its money or complacency in anything that affects its security, and accordingly we directed a special force of the heroes of the Ministry of Interior to arrest (Noor Zuhair Jassim) at Baghdad International Airport while he was trying to leave the country by a private plane, as I thank and appreciate the efforts of the just Iraqi judiciary, which issued the necessary approvals to accomplish this task. 

Othman Al-Ghanimi 
Minister of the Interior   LINK

Samson:  The Minister of Interior confirms.. a security force prevents the owner of the "Al-Qant" company, who is involved in "theft of tax money", from traveling

24th October, 2022

On Monday, a security force prevented one of the main suspects in the investigation for theft of tax insurance funds from traveling through Baghdad airport.

A security source told Shafak News Agency; A security force prevented Nour Zuhair, director of the "Al-Qant" company, which was involved in stealing tax department insurance funds, from boarding the plane at Baghdad Airport.

The source added; That the procedure was a travel ban only, and he was not arrested due to the lack of a judicial warrant for his arrest and summons.

Meanwhile; The Iraqi Minister of Interior, Othman Al-Ghanimi, confirmed the arrest of the director of the Al-Qant Company at Baghdad Airport.

Al-Ghanimi said in a statement received by Shafak News Agency; "We directed a special force of the Ministry of Interior's heroes to arrest (Noor Zuhair Jassim) at Baghdad International Airport while he was trying to leave the country by a private plane."

Al-Ghanimi thanked "the just Iraqi judiciary, which issued the necessary approvals to accomplish this task."   LINK

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Samson:  The Ministry of the Interior arrests (7) wanted persons in Baghdad

25th October, 2022

The Ministry of Interior announced today, Tuesday, the arrest of (7) suspects in Baghdad, according to various legal articles.

A statement by the Ministry of Interior, received by Shafaq News Agency, said that "the detachments of the Al-Wahda Police Station in the Al-Madayn Police Department of the Baghdad Police Command arrested seven suspects, during a morning security exercise supervised by the Baghdad Police Commander, according to various legal articles."

The statement added that "the arrested suspects were escorted to the aforementioned police station to take fundamental legal measures against them in accordance with the law."   LINK

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Samson:  Mustafa Al-Kazemi confirms that the Iraqi government will continue to fight corruption

25th October, 2022

The Iraqi caretaker prime minister, Mustafa Al-Kazemi, confirmed, on Tuesday, the government's continuation in the fight against corruption and the arrest of criminals.

Al-Kazemi said - in a tweet to him, according to Al-Iraqiya News Channel - that from the first day until the last moment, we affirm our government's continuation in the fight against corruption, exposing the corrupt and arresting the criminals

He added, "The pursuit of public money looters and bringing them to justice is an issue that has received our direct attention and close follow-up in accordance with the legal contexts in force in the implementation of judicial orders, without regard to the owners of bids, political extortion, and forgers of facts who were the basis of corruption and its defenders, and they will remain if they are not confronted politically and publicly exposed

The Iraqi Prime Minister thanked the heroes of the Ministry of Interior for their efforts and all the security services and the judiciary and its agencies, saying, "We are all working for the country and the state   LINK

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Samson:  Mr. Al-Hakim praises the arrest of those accused of stealing tax deposits and strongly supports anti-corruption efforts

10/25/2022 11:33:56

 The head of the National State Forces Alliance, Mr. Al-Hakim, valued "the position of the responsible judiciary, the Ministry of the Interior, the security forces and the parliamentarians who contributed to revealing the details of the case of money stolen from tax insurances, and the follow-up and arrest of those accused of these major violations."

Al-Hakim affirmed in a statement that Al-Furat News received a copy of it, "his strong support for any governmental or parliamentary effort that pursues and follows up corruption files, apprehends criminals without exception, and returns the looted funds to the public treasury." He called on "all honorable, selfless and conscientious people to stand united in the face of corruption, deter corrupters and bring them to justice."

Mr. Al-Hakim affirmed that "the people aspire only to a strong government capable of curbing corruption and the corrupt, and inflicting just punishment on all those whose sinful souls tempt them to prejudice the capabilities and rights of the people."

The Ministry of the Interior and the Integrity Commission announced yesterday the arrest of Nour Al-Mudhaffar, one of the accused in the case of tax deposits deposited in the branches of the Rafidain Bank at Baghdad International Airport while he was trying to leave the country by a private plane.  LINK

Samson:  After the arrest of the main accused, a legal expert clarifies the expected penalties for tax thieves

10/25/2022 15:13:12

Legal expert Ali Al-Tamimi explained, on Tuesday, the expected penalties for tax thieves, pointing out that the confession of the arrested suspects will inevitably lead to the arrest of important figures, and these figures may deny the charges against them.

Al-Tamimi said in a statement received by {Euphrates News} that “the arrest warrants were issued in accordance with Article 444/11 of the Iraqi Penal Code, theft of state funds, a felony punishable by up to 10 years in prison with the aggravating circumstances contained therein. Emphasis is provided in this article...where the arrest warrant was followed by a ban on travel and investigation or search to seize all his money in connection with the crime. 

He continued: "I think this will be followed by placing a sign not to dispose of the movable and immovable funds of those interested, and to open the general traffic, real estate and government banks to prevent the disposal of the money until the case is resolved," noting that "the accused who were arrested, important confessions necessitate that the investigation be confidential in these cases."

 And by a decision of the investigation court, so that information does not leak to wanted persons, they will be recognized by those arrested, and this leads to their escape or the scattering of evidence.” 

He added, "Even those who fled abroad can prepare files to retrieve them as wanted persons, whether in the public prosecution or integrity, and retrieve them with the smuggled money, especially with the existence of the 2005 money laundering agreement ratified by Iraq in 2007, and that the confession of the arrested suspects will inevitably lead to the arrest of important figures and these figures may deny."

The charges brought against her, but the Code of Criminal Procedure resolved this, so it obliged the investigation court to file independent cases against them, and the accused who were recognized as a witness against them in this case .. according to Article 125 of fundamentalism, and no one is above the law. 

And he indicated, "Popular pressure was great in this case, and its important results came. In fact, the people are the source of the authorities. I think that this case will be a gateway to eliminating financial and administrative corruption in Iraq...whether internally or what is smuggled and recovering."  LINK

Monday Night KTFA CC with Frank26 "Framework WHO? 10-24-2022

KTFA

Monday Night KTFA CC:

Frank26:  10-24-22….FRAMEWORK WHO?

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Petra, MilitiaMan and Eddie in Iraq

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=N4q-U72SGVg

Some "Monday News" Posted by Samson at KTFA 10-24-2022

KTFA:

Samson:  The Lebanese Central Bank stops buying dollars through its own platform 

23rd October, 2022

The Central Bank of Lebanon announced, on Sunday, that it will stop buying dollars through its own platform (exchange) from Tuesday, until further notice.

A statement issued by the Governor of the Banque du Liban, Riad Salameh, and published by the National News Agency, added that he will continue to pay public sector pensions in US dollars, noting that "withdrawals of the 400 dollars will continue to holders of bank accounts." 

Salameh's decision, after the Lebanese pound hit its lowest level against the dollar in the parallel market, comes at a time when the political crisis in the country is deepening, which prevents reaching any reforms capable of extricating it from the chronic economic collapse. The dollar is sold in the parallel market for about 40,000 pounds. 

Since the fall of 2019, Lebanese banks have imposed strict restrictions on deposit withdrawals, which have increased little by little, until it has become almost impossible for depositors to dispose of their money, especially those deposited in US dollars, or transfer it abroad.

Since the summer of 2019, the lira has lost nearly 95 percent of its value against the dollar, while the official exchange rate is still fixed at 1507 liras. This coincides with a severe liquidity crisis, and banks have stopped providing depositors with their money in dollars. Banks and money transfer companies have different exchange rates.

The prolonged economic crisis is considered the worst in Lebanon's history. It is accompanied by political paralysis that prevents taking reform steps that limit the deterioration and improve the quality of life of the population, more than eighty percent of whom live below the poverty line.   LINK

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Samson:  Samson:  Rishi Sunak elected leader of the Conservative Party and Prime Minister of Britain

24th October, 2022

Rishi Sunak won the leadership of the British Conservative Party, today, Monday, to be the Prime Minister of Britain as the party's candidate to succeed Liz Terrace.

Sunak's victory came after both Benny Mordaunt and former Prime Minister Boris Johnson withdrew from the competition.

Mordaunt was unable to get the support of enough party members in parliament, while Sunak was able to get the support of more than half of the party's 357 members, according to the BBC.

Sunak served as Finance Minister in the government of Boris Johnson from February 2020 to July 2022.

LINK

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Samson:  In Karbala.. they sell a bank building and the amount disappears.. and the manager rents a building for him for 80 million annually

24th October, 2022

Sources, 10-24-2022, who are familiar with the agendas of the local government in Karbala, revealed the sale of a bank building in Karbala, so that the bank settled in a rented office.

Message text.

Influential parties sold a bank building in Karbala, while the amount of the deal (7 billion dinars) is not known where his fate is.

In a clear fraud, a new building for the bank was not purchased, and instead a building was rented at a cost of 80 million annually, without the expenses of its rehabilitation and the purposes of the bank. This is a disaster. 

Where is the integrity and public prosecution of this obvious theft?  LINK

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Samson:  Because of the weather and the Ukraine crisis, the price of a barrel of oil is expected to reach $120

24th October, 2022

The economic expert and specialist in the field of energy, Bilal Al-Khalifa, said that wars and political crises, especially the Russian-Ukrainian war, and the events that accompanied that crisis portend further military escalation, representing a main factor for the rise in oil prices during the coming periods, indicating that targeting the gas pipeline “Al-Noord” Stream" represents another main factor for the occurrence of spikes in oil prices, especially with the entry of the "old continent" into the winter season and its growing needs for fuel

Al-Khalifa explained, “OPEC Plus production is usually very influential in the price of a barrel of oil, and we have seen during the days of the Corona pandemic crisis how it dealt with the significant drop in the price of oil by reducing production that revived the oil market,” noting that “the recent OPEC + decision It represents a clear indication of another rise in oil prices during the winter periods," according to the official "Al-Sabah" newspaper

Al-Khalifa suggested, “The current selling prices of oil will be increased by about five dollars, and therefore the price will range between 90-100 dollars, but in the event of storms and hurricanes in the places where oil production areas are located, it may rise by two dollars or more for limited days,” expecting that “a rise in the pace of the war between the Russians and NATO will lead to the price of a barrel of oil reaching more than $120 in the coming periods   LINK

Samson:  Is Iraq exploiting the wealth of minerals instead of oil?

23rd October, 2022

Iraq possesses many mineral wealth other than oil, but due to the political and security situation, the Iraqi governments have not succeeded in investing these wealth and relying on oil, which constitutes the main source of the budget of more than 95%.

The information indicates that Iraq occupies the first reserve in the world of sulfur and the second reserve after Morocco of phosphate.

According to previous geological reports and surveys, Iraq has very important mineral wealth, concentrated in several areas and with very large reserve stocks, according to Al Jazeera Net.

Phosphate is found in large quantities in the western regions of the country and mainly in Anbar Governorate. It is also found in Nineveh, Wasit, Najaf and Muthanna, and the volume of reserves is estimated at 10 billion tons.

The Rawabet Center for Research and Strategic Studies says that Iraq is a country rich in its diverse mineral wealth, which is spread in many governorates, noting that Anbar Governorate is the richest in the field of mineral wealth.

According to the Iraqi General Phosphate Company, recent surveys revealed the availability of huge and confirmed reserves of phosphate amounting to two billion tons, confirmed and untapped, with unconfirmed quantities that may exceed 7 billion tons.

As for iron, its presence is particularly concentrated in Anbar, where the underground reserve is estimated at 60 million tons. Anbar also enjoys a large reserve of uranium in the Akashat region within the formations of the phosphate layers in the Western Desert.

And the mineral wealth in Anbar does not stop there, as silica is concentrated in the Western Desert region, and appears in the form of layers of white sand, where the reserve is about 75 million tons. As for the yellow-gold mineral, it is found in Anbar and Nineveh, while huge amounts of sulfur are concentrated in Anbar, Salah al-Din and Nineveh, and reserves are estimated at more than 600 million tons.

Going to sodium sulfur, it spreads in Salah al-Din Governorate, and the general reserve of it is estimated at 22 million tons. As for quartzite, it is spread in the Al-Rutba region in Anbar, and its reserves are estimated at 16 million tons.

While celestite (strontium sulfur) is widespread in Najaf and Karbala, where it appears in the form of sandy rock lenses, the country's reserves are estimated at about 0.8 million tons of untapped.

As for glass, its presence is concentrated in Anbar Governorate in the form of shiny surface sand in the plains and plateaus, and the quantities of it are estimated at about 400 million cubic meters, while lead is found in the governorates of Dohuk and Sulaymaniyah in the Kurdistan Region in the form of sedimented carbon rocks, and the volume of the reserve is estimated at more than 50 million tons.

Statistics indicate the presence of dolomite in Anbar and Muthanna, where the country's reserves are estimated at 330 million tons.

As for gypsum, it is concentrated in Nineveh, Kirkuk and Salah al-Din, and its reserves are estimated at 130 million tons. As for lime, it is found in Anbar, Muthanna, Najaf, Nineveh and Kurdistan, and its reserves are estimated at about 8 thousand million tons, while silver is found in the areas of Iraqi Kurdistan within volcanic rocks.

Bauxite is concentrated in Anbar, the reserve of which is estimated at about one million tons, while the feldspar sands are concentrated in Najaf Governorate, the reserve of which is estimated at about 2.3 million tons.

Quartz is concentrated in Anbar and the city of Faw located on the waters of the Arabian Gulf in Basra, where reserves are estimated at 855 million cubic metres. Copper is found in Sulaymaniyah Governorate, and estimates of its volume vary between 10 and 20 million tons.   LINK