KTFA Members "Friday international News" 12-2-2022

KTFA:

UncleVersie:  Member of the Parliamentary Finance: The budget will exceed the barrier of 210 trillion dinars, and these are its priorities

  09:18 - 01/12/2022

Baghdad - Mawazine News

Revealed a member of the Parliamentary Finance Committee Mohammed Nouri Aziz, today Thursday, the federal budget for 2023 will amount to more than 210 trillion dinars.

Aziz said in an interview with the official newspaper "Al-Sabah" Mawazine News continued, "One of the priorities of next year's budget is the launch of appointments Degrees of deletion and development, as well as infrastructure, for which very large sums of money will be allocated in the regional development program and may reach more than 8 trillion dinars for the first time in The history of the country's budgets after 2003."

"The allocated funds will flow into projects. Ministries of Construction, Housing, Municipalities and Public Works, Electricity, Planning, Labor Social affairs, especially pro-poor and the social welfare programme", He pointed out that "the amounts allocated to these sectors will be very high because there is a financial abundance. And the priority of the current government, which has been described as a "service government" within the Prime Minister's curriculum Mohammed al-Sudani."

Aziz pointed out that "good funding will provide for the budget next year due to financial glut and high oil prices due to the Russian war Ukrainian, which gives the parliament comfort in increasing allocations to another set of categories".

He continued, "Next year's budget will exceed the barrier The 210 trillion dinars based on the actual need of the country, especially since the year 2022 did not Witnessing the vote on the budget, which led to the rotation of the degrees of deletion and creation, as well as "There are a good allocation of the security services and their needs." Finished 29/N33   link

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Toyvp:  Asian investors eye more M&A opportunities in Việt Nam

December, 02/2022 - 10:36

Việt Nam is Japan firms' most preferred destination thanks to its economic resilience with high growth potential on the basis of the diplomatic relations between the two countries

HÀ NỘI — Investors from Japan, the Republic of Korea (RoK), and Singapore are looking for more potential merger and acquisition (M&A) opportunities in Việt Nam, pinning high hopes on the long-term growth prospects of the market.

According to Masataka “Sam” Yoshida, head of the Cross-border M&A Division of RECOF Corporation of Japan, Japanese companies are striving to sign strategic agreements with Vietnamese partners.

Yoshida said Việt Nam is Japanese firms' most preferred destination thanks to its economic resilience with high growth potential on the basis of the diplomatic relations between the two countries.

The Southeast Asian nation is also transitioning from production to a consumer market, he noted, adding that these favourable factors will attract more Japanese companies to the country.

In November, Việt Nam continuously recorded M&A deals from Japanese investors. Most recently, the Cool Japan Fund announced that it will pour about US$10 million into 4P Holdings - the firm that owns and operates the 4P pizza restaurant chain. This is part of the fund's strategy to exploit opportunities in the Vietnamese food and beverage market.

Meanwhile, Japanese gas supplier Toho Gas has signed a strategic investment cooperation agreement with Phuc Sang Minh Engineering Services Trade Co., Ltd to buy 40 per cent of shares of the Vietnamese gas supplier.

Similarly, Sumitomo Mitsui Banking Corporation will invest VNĐ240 billion (over $9.7 million) in Smart Net Trading Service JSC (SmartNet).

Pharmacity, one of the largest drugstore chains in Việt Nam, has joined SK Group, with the aim of entering Southeast Asia's rapidly expanding retail and healthcare markets. The deal is believed to be one of the landmark deals of the year.

Meanwhile, SK E&S, the largest private renewable energy operator of the RoK, signed an agreement worth $37.5 million to buy a 99.99 per cent stake in New Renewable Energy JSC No.1, which is a subsidiary of Gia Lai Power Electricity JSC to set a foot in the renewable energy sector in Việt Nam.

The signing of billion-dollar deals between Vietnamese and RoK firms has shown the confidence of Korean investors in their Vietnamese partners.

Hana Financial Group has established a strategic partnership with the Bank for Investment and Development of Vietnam (BIDV). Việt Nam also witnessed the strategic investment of Shinhan Financial Group of the RoK in Tiki - Việt Nam's leading e-commerce company in May this year.

Nguyễn Hạnh, a lawyer of Bae, Kim & Lee Vietnam, said in the first ten months of this year, $370 million was poured into Việt Nam through M&A deals by Korean investors.

It is forecast that more and more Korean corporations will join and increase their presence in Việt Nam through M&A deals.

This year, a member investment fund of Temasek Holdings of Singapore also inked a $50 million deal with Vietnamese e-commerce solution provider OnPoint.

In addition, Singaporean venture capital funds have increased their presence in the Vietnamese market through investments in local start-ups.

Recently, Dat Bike, an electric motorbike start-up of Việt Nam, has announced that it has successfully raised an additional $8 million in a funding round led by Singapore-based Jungle Ventures Fund. GSR Ventures and Delivery Hero Ventures also participated in the round, along with Wavemaker Partners and Innoven Capital.

In August, Jungle Ventures also poured $8.5 million into local insurance and healthcare platform Medici.

Meanwhile, Golden Gate Ventures, a Singapore-based venture capital fund, has set up two offices in Việt Nam to invest in the technology industry. Another venture fund, Quest Ventures, is also partnering with Enterprise Singapore to implement the GIA Acceleration Programme to assist Singaporean tech start-ups and small- and medium-sized enterprises (SMEs) to enter the Vietnamese market. — VNS

https://vietnamnews.vn/economy/1400572/asian-investors-eye-more-m-a-opportunities-in-viet-nam.html

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Clare:  In pictures, the UAE introduces a new banknote made of polymer

12/02/2022

The Central Bank of the United Arab Emirates announced the issuance of a new banknote in the category of 1,000 dirhams, made of polymer material, with innovative designs and modern and advanced security features, coinciding with the celebrations of the 51st Union Day.

The issuance of the new banknote in the category of 1,000 dirhams, which is the fourth in the series of the project for the third issuance of the national currency, comes within the framework of the Central Bank's approach to developing the financial sector in the country.

In its design of the new banknote, the Central Bank was keen to embody the spirit of the union and the success story of the UAE, with cultural and developmental images and symbols that reflect the pioneering global achievements of the country, which strengthened its position to be among the developed countries within a record period of time.

The bank continues its policies and approach towards sustainability by issuing the new banknote in the category of 1000 dirhams made of polymer material, which is one of the modern materials in the manufacture of banknotes, as it is more durable and sustainable than traditional banknotes, by two or more times. It is also fully recyclable, thus reducing its environmental impact.   LINK

Toyvp:  ISX trades +4 billion dinars worth of equities in a week

2022-12-01 04:11

Shafaq News/ The Iraq Stock Exchange (ISX) traded more than three equities valued at more than four billion dinars last week.

With more than 3,100 deals closed this week, ISX index closed on Thursday's sesion at 590.01, 0.78% below Sunday's session.

It is noteworthy that Iraq Stock Exchange installed Central Depository and Electronic Trading Systems in 2009. It organizes five weekly sessions and lists 103 public companies from different economic sectors.

https://www.shafaq.com/en/Economy/ISX-trades-4-billion-dinars-worth-of-equities-in-a-week

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Henig:  The death sentence for the most dangerous drug dealer who was arrested by the crowd security earlier

Baghdad / The Iraqi judiciary issued a death sentence for the most dangerous drug dealer who was arrested by the Hashd Security earlier.

A statement by the Popular Mobilization Authority stated that after his arrest by the Investigation Authority in the security of the crowd, the Iraqi judiciary sentenced one of the largest drug dealers in Iraq to death by hanging.

He added that the merchant was smuggling drugs in large quantities from neighboring countries to Iraq and storing them in remote villages, after which they would be sold in batches and quantities, and tens of thousands of narcotic substances and pills were also found in his possession.  LINK

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UncleVersie:  Next Sunday. Oil experts say OPEC and its allies are likely to resort to "new" production cuts

2022-12-02 09:16

Energy analysts said that oil producers from OPEC and non-OPEC from the OPEC+ group may decide to reduce oil production next Sunday, as the alliance tries to limit the potential effects of the European Union's decision to impose sanctions on Russian crude exports and the possibility of imposing a certain ceiling on Russian oil prices.

OPEC+, a group of 23 oil producers led by Saudi Arabia and Russia, will meet on Sunday to decide on the next phase of production policy.

The meeting comes ahead of the imposition of "devastating" sanctions on Russian crude and the possibility of a decline in Chinese demand for crude, raising fears of a recession that could eventually lead to lower prices.

Claudio Galimberti, an analyst at energy consultancy Rystad, told CNBC from OPEC's headquarters in Vienna that the group would do well to change its current output policy.

Reports that OPEC+ is considering production cuts based on falling demand, especially in China, over the past few days.

Players in the global energy market remain concerned about EU sanctions on Russia's exports of seaborne crude, which will take effect on the fifth of this month.

In addition, the prospect of a cap on Russian oil prices by the Group of Seven increases uncertainty in the oil market.

The 27-nation European Union agreed in June to ban the purchase of Russian seaborne crude from Dec. 5 as part of a concerted effort to curtail Moscow's imports following its invasion of Ukraine.

However, concern that a total ban on imports of Russian crude could lead to higher oil prices, has prompted the Group of Seven major industrialized nations to consider capping the price of Russian crude.

No formal agreement has been reached so far, although Reuters reported on Thursday that EU governments had agreed in principle to a cap on the price of Russian seaborne oil at $60 a barrel.

"The other factor OPEC has to consider is the price cap, and this increases the uncertainty" in the oil market, Galimberti said.

The OPEC+ alliance recently hinted it could impose deeper production cuts to stimulate prices, which have fallen over the past three weeks but have risen slightly on Friday, two days before the expected meeting.

Reuters says the OPEC+ group is widely expected to stick to its latest target of cutting oil output by two million barrels per day when it meets on Sunday, but some analysts believe crude prices could fall if the group does not decide on further cuts.

OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies led by Russia, turned Sunday's meeting, which was due to be live in Vienna, into a virtual online meeting, which sources in the group say suggests policy may remain unchanged.

The group agreed in early October to cut its oil production target of 2 million barrels per day from November until the end of 2023.

Given the production constraints imposed on some members of the group, the expected actual cut by OPEC+ is close to 1 million to 1.1 million barrels per day.

Sources told Reuters that OPEC+ now wants to assess the impact of the looming price cap on the market and get a clearer picture of the outlook for oil demand in China, the world's biggest crude importer, which is expected to ease strict coronavirus restrictions after unprecedented protests.

However, some analysts do not rule out a surprise, warning that with supply currently in the market, OPEC+ risks a downturn in the price of oil if it does not cut production targets further at the meeting.

BVM Oil analyst Stephen Brennock said: "Further production cuts cannot be ruled out... Failure to do so risks triggering another sell-off," he said, without elaborating on the low level he believes prices could reach.

Brent crude prices, which hit a 14-year high above $139 a barrel after Russia's invasion of Ukraine, fell to around $88 a barrel in trading on Thursday, recovering somewhat from a one-year low near $80 a barrel hit earlier this week.

China's economic COVID-19 restrictions and a delayed EU agreement on a ceiling on Russian oil prices have put pressure on the market, with analysts at ING pointing to recent weakness as one reason "it is not possible" to rule out" further supply cuts.

The co-founder of Jefferies Bank consulting firm Energy Aspects, Amrita Sen, said it did not expect OPEC+ to change course now.

Energy Aspects expects OPEC+ to bring some of the discounted volumes back to the market after the second quarter of next year in order to balance supply and demand.

UBS analyst Giovanni Staunovo said that while a lack of clarity on Russian supply could prompt OPEC+ to change its current quotas, weak Chinese demand and the prospect of releasing new volumes of U.S. strategic oil reserves could prompt the group to further cut.   link

KTFA Members "News and Views" Thursday 12-1-2022

KTFA:

Inneedofgrace:  Our Federal reserve is our central bank, and privately owned.  There are central bank all over the world and are they privately owned? Is the Central bank of Iraq the same? if not how?

DayTrader:  This information comes from https://rightedition.com/2019/10/21/who-owns-the-worlds-central-banks/; I can’t vouch for the accuracy.   There's much more information on this link, and others.

While state-owned central banks now predominate, some central banks still have forms of private sector shareholding. These include central banks in the United States, Japan and Switzerland. Figure 3 classifies these central banks according to whether they are owned by government, private sector banks, other private sector shareholders, or some combination of these.

‘Other private sector shareholders’ means individuals and/or non-bank private sector institutions. The European Central Bank (ECB) represents a fourth ownership model not adequately captured by Figure 3, as it is established by treaty among EU member states.

Daytrader cont:…..Besides the ECB, other supra-national central banks include the Eastern Caribbean Central Bank, the Bank of Central African States and the Central Bank of West African States.

As information, the CBI is wholly owned by the State Republic of Iraq

CENTRAL BANK OF IRAQ | Central Bank of Iraq (cbi.iq)

Head Office:  P.O. BOX 64 Al-Rasheed Street, Baghdad, Iraq

Telephone:  +964 1 816 5171 to 4 Line

Website: http://www.cbi.iq

E-Mail: cbi@cbi.iq , cbi@cbiraq.org

Status: State Central Bank : Government Bank

Ownership: Wholly – Owned by the State Republic of Iraq

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The Snod:  If I may, to add to Daytraders astute link:

From Wikipedia

After World War I and the dissolution of the Ottoman Empire, Iraq's monetary system was administered by the British Mandate of Mesopotamia until 1931, when the Iraq Currency Board was established in London to issue the new Iraqi dinar and maintain its reserves.

I don’t have enough room to post my own studies on this over the years, yet IMHO  these old British/London/EU banking powers via crossover trusts etc., are the one’s that really own all these “Central Banks” of this category including the Fed Reserve, BIS, IMF, and World Bank.  

I also point to The Vatican as well because they got in bed with the Bank of England a few centuries ago, and they are all tied into this structure as well.  Personally, I think those two are at the top of this interconnected food chain.  

They may say “State Bank,” in regards to Iraq, but these are merely words.

This is one of the reasons why I got into this investment and stayed with it for 12 years.  These immensely powerful people who are also a very influential part of the “Industrial/Military Complex” of the USA, and give a bazillion dollars for President’s to run for office, are not going to get punked by thieving Iranian sects forever through a multicurrency system.  

This is about power and money, and the best way to control what is really their money is to go back to a single, convertble currency, and change up that currency auction to adapt or disappear from the processes.  

Have you noticed, it has been The IMF/World Bank/USA/UN that come in there to set up the monetary reform, and depose politicians that aren’t on the agenda now?  It’s because…They are one and the same.  Blessings.

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Clare:  Parliament announces the agenda for the next Saturday session (completion of the ministerial cabinet)

12/01/2022 

The House of Representatives announced its agenda for its session for next Saturday, which includes 9 paragraphs, the most prominent of which is the completion of voting on the cabinet.  LINK

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Clare:  Economist: Trade exchange between China and Iraq will reach 44 billion dollars

12/01/2022

On Thursday, economic expert Nabil Al-Marsoumi said that Iraq may have crossed the red line in its relationship with China, indicating that the volume of trade exchange between the two countries will exceed $44 billion by the end of 2022.

Al-Marsoumi said in a post on Facebook, "The US Pentagon warned Iraq and other countries in the Middle East against continuing broad cooperation with China because of its negative repercussions on the United States."

He added, "China is Iraq's largest trading partner, as trade dealings between them reached $33.7 billion during the first ten months of this year, which means that it could reach more than $40 billion at the end of 2022."

He explained that "Iraq's exports to China are concentrated in crude oil, while Iraq imports various types of Chinese commodities," noting that "Chinese companies enjoy extensive business in Iraq in the field of infrastructure, construction and energy, and they are the main operator in five Iraqi fields: Rumaila and West Qurna." 1/ Maysan, Halfaya and Al-Ahdab, in addition to transferring a number of other oil and gas fields to Chinese companies, including the Mansouriya gas field, and the Al-Faw strategic refinery was
also transferred to it, in addition to large and wide works in the field of oil services.   LINK

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Henig:  Gold shines with the weakness of the dollar

11/30/2022

 {Economic: Al Furat News} Gold prices recorded slight gains, on Wednesday, supported by the decline in the dollar, as investors focused largely on the speech of Federal Reserve Chairman Jerome Powell, in pursuit of any indications on the path of monetary policy of the US Central Bank.

The dollar index fell 0.2 percent, making bullion less expensive for holders of other currencies.

All eyes are on Powell's speech at the Brookings Institution, scheduled for 1830 GMT, for any fresh clues about the Fed's plans to raise interest rates next year. Investors are also awaiting the US employment report, which will be released on Friday.

Edward Meer, an analyst at ED&F, said Powell's speech was the main focus of the market.

Spot gold rose 0.2 percent to $1,752.95 an ounce at 0605 GMT. US gold futures rose 0.3 percent to $1,768.20.

Among other precious metals, spot silver fell 0.1 percent to $21.23 an ounce, platinum increased 0.5 percent to $1,007.75, and palladium rose 1.2 percent to $1,855.25 an ounce.   LINK

Toyvp:  Foreign trade may hit record of US$780 billion in 2022

December, 01/2022 - 08:32

Surmounting difficulties to boost economic recovery, Việt Nam is expected to post a foreign trade record of US$780 billion in 2022.

 HÀ NỘI — Surmounting difficulties to boost economic recovery, Việt Nam is expected to post a foreign trade record of US$780 billion in 2022.

Economic experts described the export and import panorama as highly positive, as two more groups of commodities – transport vehicles and spare parts, and fishery products – have seen 11-month export value of over $10 billion, while imports of materials for manufacturing have also surged.

By the end of November, exports and imports totalled $673.82 billion, higher than the $668.54 billion for the whole 2021. Trade surplus stood at $10.6 billion, compared to the $0.6 billion in the same period last year, according to the General Statistics Office.

The Ministry of Agriculture and Rural Development said China’s rice imports have shifted from low to high volume in the year-end period. Some EU countries also tend to import more rice to replace the wheat supply decline caused by the Russia - Ukraine conflict.

This has helped raise Vietnamese rice prices to $480 per tonne, $13 - 28 higher than Thai rice and $60 - 65 higher than the Indian grain, thus substantially contributing to this year’s export growth.

Besides, products of the processing and manufacturing industry have also enjoyed growth of 6 - 39.9 per cent in overseas shipments, helping turn export into a “bright spot” of the economy in 2022.

Assoc. Prof. and Dr. Nguyễn Thường Lạng from the Hà Nội-based National Economics University predicted that although export growth has slowed down slightly compared to the whole-year pace, foreign trade turnover will hit a record of about $780 billion in 2022.

This is a stepping stone for Việt Nam to achieve $1 trillion in trade revenue by 2025, he added.

Vũ Tuấn Anh, President of the Junior Chamber International Việt Nam, held that foreign direct investment remains the key driver of foreign trade. Meanwhile, processed and manufactured items are still key commodities, aside from textile-garment and agro-forestry-fishery products, of which timber, wood items, seafood, coffee, rubber, cassava, rice, vegetables, and fruit have generated a high trade surplus.

$10.6 billion trade surplus in 11 months

Việt Nam recorded a trade surplus of $10.6 billion in the January-November period, the General Statistics Office announced on Tuesday.

In November, the import-export turnover is estimated at $57.58 billion, down 1.2 per cent month-on-month and 7.8 per cent year-on-year, bringing the total value in the first 11 months to $673.8 billion, up 11.8 per cent year-on-year.

In the period under review, the export revenue is estimated at $342.2 billion, up 13.4 per cent y-o-y, and import at $331.6 billion, up 10.1 per cent.

Thirty-five commodities report an export turnover of more than $1 billion each, with eight surpassing the $10-billion- mark, accounting for 93.7 per cent and 70.1 per cent of the total, respectively.

Forty-five products saw an import value of over $1 billion, and six over $10 billion, making up 93.2 per cent and 52.3 per cent of the total, respectively.

The US is Việt Nam’s biggest importer in the period, with a turnover estimated at $101.5 billion, while China is the country’s largest exporter, with $109.9 billion.

In the period, Việt Nam also recorded a trade surplus of $29.4 billion with the European Union, and a trade deficit of $56.9 billion with China.

To promote exports, Deputy Minister of Industry and Trade Đỗ Thắng Hải said that in the last month, the ministry will focus on supporting businesses in finding alternative suppliers of raw materials with suitable prices to ensure sufficient raw materials and fuel for production and consumption, and to make good use of signed free trade agreements to speed up production and export.

The facilitation of administrative procedures for enterprises will be further promoted through the application of digitalisation, typically in tax refunds, import and export customs, and issuance of the Certificate of Origin. — VNS

https://vietnamnews.vn/economy/1400332/foreign-trade-may-hit-record-of-us-780-billion-in-2022.html

KTFA Members "Iraq and Vietnam News" Wednesday 11-30-2022

KTFA:

Clare:  Its extension depends on the budget.. Committee: Parliament begins its legislative recess at the end of next week

2022-11-30

 The Parliamentary Legal Committee announced today, Wednesday, that the House of Representatives will enter the legislative recess at the end of next week, while indicating that the extension of the legislative term is linked to the arrival of the general budget law to the parliament.

Committee member Raed Al-Maliki told Shafaq News agency, "The first legislative year of the parliament will end at the end of next week, and that the parliament will enjoy its legislative recess for a period of 30 days."

He added, "Parliament may extend the legislative term again in the event that the general budget law for the year 2023 reaches the parliament," stressing that "the extension of the legislative term is linked to the arrival of the budget to Parliament."

And the Presidency of the House of Representatives decided, on November 8, 2022, to extend the second legislative term of the first legislative year of the fifth electoral session, by one month, while independent MP Hussein Al-Sabri explained that “the purpose of extending the legislative term is to pass the important laws on the Parliament’s agenda, Among the most important laws that will be sent from the government to parliament is the general budget law, and in the event that the law arrives before the end of the legislative term on the ninth of next December, the parliament will extend its work again until the budget law is approved.   LINK

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Clare:  Al-Salhi Announces The Date Of Raising The Budget To The House Of Representatives And Voting On It

11/30/2022

 Member of Parliament, Rafik al-Salhi, set today, Wednesday, the date for submitting the budget to Parliament and voting on it.

Al-Salhi told Earth News, "The previous Al-Kazemi government failed to prepare a budget for the current year 2022, and therefore the next budget 2023 is important."

And he indicated that “all governorates and ministries have raised their needs in terms of projects and others

As for the 2023 budget, it is an important budget, and the Al-Kazemi government failed in the year 2022 by not being able to prepare a budget for the previous year, and now the Ministry of Finance is proceeding with its preparation, which also includes fixing contracts,” noting that “next Tuesday, the budget will be submitted to the House of Representatives and begin to discuss, prepare and vote on it in the coming days.”   LINK

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Clare:  The Kurdistan Democratic Party expects a soon resolution of the outstanding issues with Baghdad

2022-11-30

 The Kurdistan Democratic Party bloc confirmed today, Wednesday, that the relationship between Baghdad and Erbil has started a new phase after the formation of the government of Muhammad Shia' al-Sudani, expecting to resolve many outstanding issues in the near future.

The representative of the bloc, Mariwan Qarni, told Shafaq News agency, "The relationship between the governments of Erbil and Baghdad is governed by the Iraqi constitution of 2005, but the federal government has not committed itself to implementing the financial rights of the Kurdistan Region since 2014, as a small part of its rights is sent, for various reasons." . 

Qarni added, "But after the formation of the government of Muhammad Shia al-Sudani and the political agreement signed by the coalition parties in (state administration), a new phase of the relationship between the two governments began," stressing that "the Sudanese government agrees to resolve many outstanding issues between the two parties."

A member of the Security and Defense Committee expected that "the Sudanese government will present a draft oil and gas law in the Iraqi parliament in agreement with the regional government, as well as include the financial rights of the Peshmerga forces in the 2023 budget, and not distinguish them from the federal forces, because both are part of the Iraqi defense system according to the constitution."

Qarni pointed out that "Al-Sudani's agenda includes issues of conflict between Erbil and Baghdad, such as the oil and gas law, the implementation of the Sinjar Agreement and the Federal Court," adding, "If the Sudanese government is able to fulfill its promises to the Kurdistan Region within the time frame specified in its agenda, then there will be a bright future." relationship between the two sides.

The President of the Kurdistan Region, Nechirvan Barzani, had discussed, during his recent visits to Baghdad, with Muhammad Shia' al-Sudani, the Iraqi federal prime minister, and other political parties, the latest developments in the security and political situation in the country.   LINK

Toyvp:  Japanese-funded $35m R&D centre opens in Đà Nẵng

November, 29/2022 - 16:43

The US$35-million Fujikin Danang Research, Development and Manufacture Centre, funded by Fujikin Incorporated from Japan, has freshly been inaugurated in the central coastal city of Đà Nẵng.

ĐÀ NẴNG — The US$35-million Fujikin Danang Research, Development and Manufacture Centre, funded by Fujikin Incorporated from Japan, has freshly been inaugurated in the central coastal city of Đà Nẵng.

Located at the Đà Nẵng Hi-tech Park, the facility, whose construction began in 2021, focuses on projects involving drones, robots, water purification technology, and medical equipment and related software.

To provide manpower for the R&D project, Fujikin Incorporated has already inked a human resources training deal with the Đà Nẵng University for Science and Technology.

According to the municipal Hi-tech Park and Industrial Zones Authority, a series of investors, including aerospace components manufacturer Universal Alloy Corporation (UAC) of the US, Tokyo Keiki Precision Technology Inc and Niwa Foundry from Japan, and Dentium company from the Republic of Korea, have already opened factories at the 1,100ha ‘green’ hi-tech park. — VNS

https://vietnamnews.vn/economy/1400092/japanese-funded-35m-r-d-centre-opens-in-da-nang.html

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Toyvp:  Việt Nam a focus for Korean technology enterprises

November, 29/2022 - 16:58

Việt Nam is a potential young market and we will certainly promote development here in the near future, said Jun Kwon, Director of Meta Planet Company.

 HÀ NỘI — Việt Nam is a potential young market and we will certainly promote development here in the near future, said Jun Kwon, Director of Meta Planet Company.

He made the statement at the “Technological Investment Co-operation between Việt Nam and South Korea” held in Hà Nội on Monday.

As one of the businesses of the Korea NFT Content Association coming to Việt Nam to seek cooperation and investment opportunities, he has seen many attractive opportunities in this market. With the advantage of developing NFT and metaverse-related projects, Meta Planet is ready to conquer and expand investment to Việt Nam.

“I guess the blockchain investment policy in Việt Nam will also be a bit more difficult than in South Korea, but through the Việt Nam Blockchain Association, we have had the opportunity to better understand the market, learn from the experience of other investors to have good preparation before actually entering," he added.

Choi Kang-Yong, currently chairman of NBN, the No 1 Blockchain news channel in South Korea, said that not only in Korea or Viet Nam but there was a global event going on, which was the transition towards Digital Assets. "With the 4th industrial revolution, blockchain technology is now under heavy focus and is the centre of the business revolution." 

The cryptocurrency market in South Korea is valued at US$23 billion with more than 7 million users trading every day. The global market is now at the level of $900 billion.

“There is a strong need to rethink today’s capital market and approach the digital asset market with a wider perspective and an aim to cope with the current global recession, inflation, and increase of interest in the capital market,” he said.

He added that under this global environment, the seminar was not just an economics discussion, but an event to promote and foster global partnerships between Việt Nam and South Korea and incubate the Digital Asset Economy and Metaverse World beyond the two countries. "The financial market will continue to see changes; thus we hope that the cooperation will create a premise for solid ties in the future."

“We will continue to strengthen our cooperation with Việt Nam in order to turn this partnership and coalition into a global leading team in this revolutionary moment we are living in,” he added.

Mark Hwang, Director of Korea NFT Content Association (KONCA) Việt Nam, said: “I personally believe NFTs have big potential and very big possibility, not only in South Korea.”

“The biggest potential in Việt Nam I would say is population. More than 100 million people with a huge number between 20 and 30, these are suitable users. Therefore, our market application in Việt Nam would have very strong prospects, there will be a lot of opportunities to come, not only in entertainment but also in other fields as well.”

Phan Đức Trung, Standing Vice chairman of Việt Nam Blockchain Association (VBA), said: “Blockchain is becoming a pioneering technology that is widely applied in many fields to create new business models. Blockchain technology is developing strongly and is considered a step forward. Blockchain started in the financial market and is being moved to many other areas. Currently, many large corporations and companies in the fields of banking, healthcare, energy, insurance, tourism, real estate, science and education have all applied blockchain.”

He said the biggest thing expected from the discussion between VBA and Korean partners was experience in two issues of training and law. South Korea had a blockchain boom and NFT applications were heavily promoted in the entertainment sector and art applications which Việt Nam could study.

Hoàng Văn Huây, VBA’s chairman, said: “Since its official public launch, the association has carried out a series of activities towards the widespread and effective application of blockchain technology into Việt Nam's socio-economic development. This includes supporting and encouraging businesses to apply this technology. However, blockchain is still a new technology in Việt Nam, so the association also set a plan to disseminate this knowledge to businesses and people.”

The event was co-organised by VBA, KONCA and NBN Korean TV Channel. The signing ceremony of a memorandum of understanding (MoU) between the VBA and KONCA, as well as one between the VBA and NBN Korean TV Channel, took place within the framework of the event. — VNS

https://vietnamnews.vn/economy/1400113/viet-nam-a-focus-for-korean-technology-enterprises.html

"Some "Vietnam News" Posted by ToyVP at KTFA 11-29-2022

KTFA:

Toyvp:  Việt Nam lures over $25 billion in foreign investment in 11 months

November, 29/2022 - 08:42

Despite a decline of 18 per cent in newly registered capital to $11.5 billion, foreign capital disbursement saw a positive increase of 15 per cent to reach $19.68 billion in the January - November period. 

HÀ NỘI — Việt Nam received US$25.1 billion in foreign investment in the first 11 months, up 0.5 per cent month-on-month but down 5 per cent year-on-year, the Foreign Investment Agency (FIA) has said.  

During the period, new capital registered in the country by foreign investors saw a yearly decline of 18 per cent to $11.5 billion while their capital contributions and share purchases also declined 7 per cent year-on-year to nearly $4.08 billion. 

The agency underlined two factors behind the falling registered capital, which were stringent COVID-19 preventive measures early 2022 and global uncertainties.

It said strict COVID-19 preventive measures imposed in the beginning months of the year had made it more difficult for foreign investors to travel to Việt Nam to seek new investment opportunities. Such hindrance held back the number of newly-registered projects in early 2022.

Global uncertainties, including geopolitical conflicts, inflationary pressures and supply chain disruptions, compounded the situation by scaling down the capital flows from big economies, especially Việt Nam's partners.

One bright spot in the period was adjusted capital which surged 23.3 per cent year-on-year to $9.54 billion, the FIA noted. 

According to the agency, the adjusted capital continued to maintain its growth momentum, which was a signal to confirm the confidence of foreign investors in the economy and investment environment of Việt Nam. Therefore, they decided to add more capital to their existing projects in the country. 

Statistics from the FIA also showed that the average scale of adjusted capital per project in 11 months of 2022 increased 4.9 per cent over the same period of last year. Notably, many projects in manufacturing of electronic and high-tech products witnessed capital added on a large scale during the reviewed period. 

On the bright side, many large-scale projects had their capital adjusted up significantly in ten months. For instance, Samsung Electro-Mechanics was given two capital boosts, of $920 million and $267 million. 

Samsung HCMC CE followed suit with $841 million. Other projects to manufacture electronics and multimedia devices in Bắc Ninh, Nghệ An and Hải Phòng provinces were financed with additional capital of $306 million, $260 million and $127 million, respectively.  

At the same time, disbursed capital also witnessed a positive increase of 15 per cent to reach $19.68 billion in the period, the FIA added.

From January to November, manufacturing and processing lured the lion's share of foreign investment with over $14.96 billion, making up 59.5 per cent of total capital. It was followed by real estate with $4.19 billion, or 16.7 per cent. Electricity production and distribution and science and technology were the runners-up with $2.26 billion and $1.03 billion, respectively. 

Singapore was the top source of capital pledges in the period with $5.78 billion, accounting for 23 per cent of the total. Japan came next with over $4.6 billion or 13 per cent while South Korea ranked third with above $4.1 billion or 16.4 per cent. 

Others sources of foreign capital were mainland China, Hong Kong (China) and Denmark. 

Among cities and provinces receiving foreign capital in the period, HCM City led with nearly $3.54 billion, up 3.3 per cent year-on-year or equivalent to 14 per cent of the total. The southern province of Bình Dương ranked second with over $3.03 billion, up 45 per cent year-on-year or accounting for 12.1 per cent of the total. 

In a recent report to the National Assembly, the Ministry of Planning and Investment said that foreign direct investment (FDI) disbursement this year could reach $21-22 billion, an increase of about 6.4-11.5 per cent compared to 2021. These figures, then, meant that Việt Nam's FDI attraction was rapidly moving towards recovery.

Foreign enterprises continued to recover, maintain and expand their production and business activities in Việt Nam, Đỗ Nhất Hoàng, director of the FIA said. 

Trương An Dương from Frasers Property Vietnam Co told the Đầu tư (Investment) newspaper that his company was keen on looking for investment opportunities in Việt Nam. — VNS

https://vietnamnews.vn/economy/1399796/viet-nam-lures-over-25-billion-in-foreign-investment-in-11-months.html

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Toyvp:  Bà Rịa – Vũng Tàu’s investment attraction capability to increase

November, 28/2022 - 17:37

A great deal of investment opportunities will open for Bà Rịa - Vũng Tàu Province, with many policies that will improve the province’s infrastructure and economy.

BÀ RỊA – VŨNG TÀU — A great deal of investment opportunities will open for Bà Rịa – Vũng Tàu Province, with many policies that will improve the province’s infrastructure and economy.

A conference was held last weekend on the Government’s action plan for implementing the Politburo’s Resolution No, 24-NQ/TW on boosting socio-economic development and security in the southeastern region by 2030, with a vision to 2045 (following the Government's Resolution No. 154/NQ-CP on the action plan of Resolution No. 24-NQ/TW issued on October 7 this year), as well as to facilitate investment into the region.

At the conference, Prime Minister Phạm Minh Chính commended the achievements of the southeastern localities, saying the region is the largest contributor to the country’s GDP, has the largest number of businesses, and the highest amount of foreign direct investment.

The resolution entails solutions for improving infrastructure, many of which directly affect the province’s infrastructure and economy for the next five years. These improvements will in turn enhance the province’s ability to draw in investment from domestic and foreign businesses.

These include investment into the Biên Hòa – Vũng Tàu railway for transporting goods, which will connect to the Cái Mép – Thị Vải seaport; the expansion of Côn Đảo Airport; and the development of big industrial complexes focusing on industry, services and urban areas in the province’s Phú Mỹ New City.

Nguyễn Văn Thọ, chairman of the Bà Rịa – Vũng Tàu People’s Committee, said during the conference that the province has an initiative to form a free trade zone associated with a deep-water seaport in the Cái Mép Hạ area and develop the province into a world-class tourism hub following the Politburo’s Resolution No. 24-NQ/TW.

“The formation of the Cái Mép Hạ free trade zone will create an effective economic tool for Việt Nam to compete with regional countries in attracting investment and implementing the new phase of the industrialisation strategy, and will be the driving force for the southeastern region to make greater contributions to the country’s development.”

The province will create strategies to attract capable investors into the free trade zone, focusing on key industries such as the hi-tech industry, seaport and logistics, tourism and commerce, digital economy and finance. It will also ensure sufficient infrastructure works and land plots within the zone.

Regarding Bà Rịa – Vũng Tàu’s plan to develop Vũng Tàu City into a world-class tourism hub, the province will carry out numerous solutions, including focusing on urban development, especially seaside urban areas towards green and sustainable urban models; preserving and ultilising its cultural heritage value; and raising awareness of the importance of tourism in economic development.

It will also improve its infrastructure system to boost connectivity within the province and in the region, which in turn will enhance linkages for tourism and socio-economic activities.

The Government’s action plan targets strengthening linkages between industrial parks and export processing zones in the southeastern region, developing the region into a financial, commercial, services, and international exchange hub in the Southeast Asia. It also aims to develop Bà Rịa –Vũng Tàu into a national marine economic centre.

As part of the conference, the Ministry of Planning and Investment and provinces and cities in the region granted investment registration certificates and signed MoUs for investment cooperation with local and foreign investors for 20 projects with a total investment of US$10 billion and more than VNĐ5 trillion ($202.4 million).

Among them, Chairman Thọ granted investment certifications and signed MoU with 10 projects in the province, worth a total of over $8 billion.

These projects include a $5.5 billion expansion of Long Sơn Petrochemicals, a $1.3 billion project for manufacturing industrial wood using Cross Laminated Timber technology for the construction and ship manufacturing industries, and a $380 million expansion of the Marubeni paperboard factory. — VNS

https://vietnamnews.vn/economy/1399851/ba-ria-vung-tau-s-investment-attraction-capability-to-increase.html

Toyvp:  VN-Index breaches over 1,000 points

November, 28/2022 - 17:08

HÀ NỘI — Benchmark indices rose more than 3.5 per cent on Monday, as domestic investors' risk appetite improved strongly while foreign investors continued to pour capital into the country's stock market.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) extended last week's big rallies and broke over the key level of 1,000 points for the first time in nearly a month.

Accordingly, the index surged 34.23 points, or 3.52 per cent, to 1,005.69 points, the highest since November 4. Meanwhile, the HNX-Index on the Hà Nội Stock Exchange (HNX) jumped 7.29 points, or 3.7 per cent, to 204.06 points.

The market's breadth was in a positive zone, with 491 stocks edging higher on the two main exchanges, while only 74 ticker symbols slid.

Liquidity also increased sharply over the previous session, with total trading value on both main exchanges of nearly VNĐ17.3 trillion (US$697.4 million). Matching value on the southern bourse increased by 66.67 per cent compared to Friday's session to nearly VNĐ14 trillion, equal to a matching volume of 872 million shares.

Similarly, on HNX, the matching value reached VNĐ927 billion, equivalent to the trading volume of 77.5 million shares.

The rallies were driven by large-cap stocks in appealing industries, including banking, realty, manufacturing and utilities. The 30 biggest stocks tracker VN30-Index ended the day at 1,004.34 points, up 36.85 points, or 3.81 per cent.

In the VN30 basket, 23 stocks went up with seven stocks registering the maximum daily rise of 7 per cent, while only five stocks inched down. And two stocks stayed flat.

Statistics from finance website vietstock.vn showed that in top three stocks influencing the uptrend, Vietcombank was the market's leader with an increase of 4.92 per cent, followed by PV Gas (GAS) and Vinhomes (HMX), which both advanced by 7 per cent.

Supporting the market, other pillar stocks like Vietinbank (CTG), Hòa Phát Group (HPG), Techcombank (TCB), MBBank (MBB), Masan Group (MSN), Vincom Retail (VRE), Petrolimex (PLX) and VPBank (VPB), also reported positive performance, up at least 3.4 per cent.

The uptrend also received support from foreign investors, as they net bought for 16 consecutive sessions. Specifically, they net bought nearly VNĐ1.7 trillion on the southern market, and VNĐ16.27 billion on HNX. — VNS

https://vietnamnews.vn/economy/1399839/vn-index-breaches-over-1-000-points.html

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Toyvp: VN ready to become a semiconductor manufacturer

November, 28/2022 - 08:26

The global semiconductor and chip race is heating up and Việt Nam should take this opportunity to raise its’s position on the global semiconductor manufacturing map as some leading corporations have invested in semiconductor manufacturing in the country, according to local economists.

HÀ NỘI — The global chip race is heating up, and Việt Nam should be able to raise its position on the global semiconductor manufacturing map as some leading corporations are investing in chip production in the country, local economists said.

Prof. Nguyễn Mại, President of the Vietnam Association of Foreign Invested Enterprises (VAFIE), said the adverse impact of the COVID-19 pandemic and prolonged trade conflicts have caused a disruption of semiconductor supplies. Global companies involved in using semiconductors to make smartphones, self-driving vehicles, artificial intelligence (AI) technology or data centers have been forced to cut their productivity.

Mại emphasied that countries are in a race to produce semiconductors and chips. In particular, the US Department of Commerce (DOC) in September released its strategy for implementing its US$50 billion CHIPS for America programme. And China has doubled its spending and enacted policies to support semiconductor manufacturing companies.

Việt Nam has also become a centre of the semiconductor industry as Samsung announced its plan to produce semiconductors from July next year with an additional investment of US$920 million. The country is also home to Intel’s largest assembly and testing factory with an investment of $1.5 billion.

Đỗ Nhất Hoàng, head of the Ministry of Planning and Investment's Foreign Investment Agency, said the Synopsys company from the US also announced that it would train electrical engineers in Việt Nam and support HCM City Hi-Tech Park (SHTP) to establish a chip design center through a software sponsorship programme.

Hoàng added that in the first 10 months this year, FDI disbursement reached $17.45 billion, an increase of 15.2 per cent over the same period in 2021. This was the highest number in the past five years. Of this figure, the manufacturing sector accounted for 65 per cent and involved the major industries of hi-tech electronics and chip production. This has shown that Việt Nam has gradually begun to form an ecosystem of semiconductor and chip production.

Over the years, Việt Nam’s investment climate has been highly appreciated by foreign investors due to its stable political system and rapid growing economy. Incentives through corporate income taxes have also made an important contribution to creating an attractive investment climate.

Hong Sun, Vice President of the Korean Chamber of Commerce in Việt Nam (KoCham), said that apart from having a stable business environment and many incentives, chip manufactures want to have abundant and stable power sources.

Hong emphasied that chip or semiconductor manufacturing were both high-value products. If a sudden power failure occurred, production would have to restart from the beginning, which would take from a week to a few months and cost billions of dollars.

Mại said that “Việt Nam should not rest on its gains and we need to make an assessment of the bottlenecks in luring FDI, such as transport infrastructure, and information networks.”

He noted that if Việt Nam can participate in the semiconductor industry, it will generate a big boost of added value for the country. — VNS

https://vietnamnews.vn/economy/1399493/vn-ready-to-become-a-semiconductor-manufacturer.html

Monday Night KTFA CC with Frank26: "140" 11-28-2022

KTFA

Monday Night KTFA CC

Frank26:  WELCOME EVERYONE HOPE YOU ENJOYED YOUR THANKSGIVING

11-28-22……140

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=B7e0-v5Q3FI

Some "Monday News" Posted by KTFA Members 11-28-2022

KTFA:

Henig:  Dhi Qar decides to suspend official working hours next Monday

11/26/2022

{Local: Al-Furat News} The governor of Dhi Qar announced the suspension of official working hours next Monday.

Muhammad Hadi said in a statement, "The official working hours have been suspended for next Monday, on the occasion of the anniversary of the Zaytoun Bridge incident."   LINK

Clare:  The Governor of the Central Bank of Iraq receives the Assistant Deputy Secretary of the US Treasury for Terrorism and Financial Crimes

November 28, 2022

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhaif, received today, Sunday, Mr. Jesse Baker, Assistant Deputy Secretary of the US Treasury for Terrorism and Financial Crimes, and his accompanying delegation . 

During the meeting, they discussed bilateral cooperation between the two institutions and discussed the application of international standards in combating money laundering and terrorist financing, and the Central Bank's commitment to them, in addition to the application of due diligence from other government institutions in this file. In addition to efforts to enhance financial inclusion and keep the banking sector in line with global developments . 

His Excellency stressed that the Central Bank of Iraq is committed to all international laws and instructions, in the file of combating money laundering and terrorist financing, and was able to transfer Iraq from the status of enhanced follow-up to the regular follow-up in the Financial Action Agency "FATF", in addition to removing it from the European Union's list of high-risk countries. .

On the other hand, the US Treasury delegation praised the measures implemented by the Central Bank in combating money laundering and terrorist financing, through its use of the latest systems in this file .

The Central Bank of Iraq,     Media Office,
November 27, 2022

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Henig: In numbers and pictures.. Al-Sudani announces the recovery of large sums of money from the theft of the century

11/27/2022

The Prime Minister, Muhammad Shia Al-Sudani, announced the recovery of large sums of money stolen from the secretariats of the Tax Authority in the case known as the "theft of the century."

Al-Sudani said in a press conference held this evening, surrounded by the refunded amounts: "The competent authorities were able to recover the first batch of more than 182 billion dinars," noting that "investigative committees were formed to audit the instruments disbursed from the tax secretariats."
He added, "The investigation committee indicated the violations and negligence to facilitate the seizure of trust funds, and there are bodies within the Tax Authority and other supervisory and responsible parties that facilitated the process of stealing trusts, and we will announce these parties after completing the investigations."
"We will not exclude any party involved in the theft of safe deposits," Al-Sudani stressed.

He pointed out that "the investigative committees reached a conclusion stating that 114 checks were paid to the accused, Noor Zuhair Al-Muzaffar (aka Abu Fatima), with a total amount of more than a trillion dinars," referring to "the disbursement of 114 checks to the accused, Nour Al-Muzaffar, for an amount of one trillion and 618 billion dinars."

He revealed that "37 checks were disbursed, with a total amount of 624 billion dinars, to Badia Al-Masar Company," noting that "the managing director of Badia Al-Masar company is called Abdul Mahdi Tawfiq, and its fugitive accused owner, Abdul Rahman Muhammad Ibrahim."

And he continued, "66 checks were disbursed, with a total amount of 982 billion dinars, to the Humpback Whale Company, to its fugitive authorized director, Abd al-Mahdi Tawfiq, and its fugitive accused owner, Qassem Muhammad," noting that "45 checks were disbursed, with a total amount of 607 billion dinars, to the Baghdad Wind Company, to its authorized director, Abd al-Mahdi Tawfiq, to ​​its arrested owner, Hussein." Kawa," noting that "the money spent amounts to three trillion and 754 billion and 642 million and 664 thousand dinars."

He pointed out that "the judiciary will issue a decision to release {Nour Al-Muzaffar} on bail as part of an agreement to recover the rest of the amount," announcing that "the movable and immovable money of Al-Muzaffar will be seized and he will be prevented from traveling after his pledge to pay the rest of the amount within two weeks," pointing out that "the majority of Al-Muzaffar's money is real estate and he will sell it." To pay with security monitoring and follow-up of Al-Muzaffar to prevent his escape.

And the Prime Minister announced that "the accused (Hussein Kaveh) is being recovered from the Kurdistan region, in possession of 45 instruments, the total amount of which is 607 billion dinars."

He stressed, "We will follow up on any accused and in any part of the land and recover the money, and that will be the criterion for our relationship with the countries of the world in this file and offering money in this way because of the low level of citizen confidence in the state's procedures."

Al-Sudani called on "the accused against whom arrest warrants have been issued to surrender themselves and the stolen sums." LINK

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UncleVersie:  To sign memorandums of understanding. Sudani to lead political and economic delegation to Tehran tomorrow

The Iraqi Prime Minister, Mohammed Shia Al-Sudani to Tehran, on an official visit, on Monday, at the invitation of It was directed at him two days ago by Iranian President Ebrahim Raisi.

Sudani, who was recently elected prime minister Iraqi, will visit Iran as the first foreign country at the head of an economic and political delegation, and it will also be His third abroad, after Jordan and Kuwait.

The assistant director of the Iranian president's office said For Political Affairs Mohammad Jamshidi, to the Iranian agency "IRNA", "Ebrahim Raisi, will be greeted by Sudani, at the Saadabad Cultural Complex and the historical in Tehran."

Jamshidi added, "The Sudanese Official meetings will be held during this one-day visit, and Memorandum of Understanding to develop cooperation between Tehran and Baghdad."

Shafaq News Agency learned that the most prominent The files that Al-Sudani will discuss in Tehran are the continuation of Iraqi mediation between Iran And Saudi Arabia, especially as he plans to visit Riyadh a few days after Iran, will also discuss Economic files between the two countries, energy and other files related to security and border control.

Last Saturday, Sudani received the ambassador Iranian to Iraq Mohammed Kazem Al Sadiq, who conveyed to him the invitation of Iranian President Ibrahim Home to visit Tehran.

The meeting, according to the Sudanese office, dealt with Discussing a number of common files in the economic and investment aspect, as confirmed To continue meetings between Iraq and Iran on the security file, in a manner that preserves the sovereignty of It achieves the interests of the two friendly peoples and consolidates the security and stability of the region.

To sign memorandums of understanding. Sudani to lead political and economic delegation to Tehran tomorrow (shafaq.com)

Henig:  Integrity: an arrest and search warrant against a general manager at the Ministry of Commerce

{Local: Al Furat News} The Investigation Department of the Federal Integrity Commission confirmed the issuance of an arrest and search warrant against the General Manager of the General Company for Foodstuff Trade in the former Ministry of Commerce.

The department, speaking about the case that it investigated and referred to the judiciary, indicated that "the Second Karkh Investigation Court issued an arrest and search warrant against the former general manager of the General Company for Foodstuff Trade, following the discovery of an inflation in his funds," indicating that "the decision This came after the court reviewed the technical report prepared by the Authority's Prevention Department and the statements of its legal representative. 

The department added, "The arrest warrant issued by the Second Karkh Investigation Court came in accordance with the provisions of Article (19/Second) of the Amended Integrity and Illicit Gain Commission Law No. (30 of 2011)." 

It is worth noting that the authority announced on the twenty-second of November the issuance of a judgment in absentia imprisoning the former general manager of the General Company for Foodstuff Trade for seven years. Against the background of his contract to supply (2500) tons of tea, which the results of the examination proved unfit for human consumption. LINK

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Henig:  Huh. Well THAT'S interesting. Insider trading with currency while leaking exchange rates? You don't say.

Al-Bayati presents a proposal to radically solve the army's livelihood crisis

{Politics: Al-Furat News} Security expert Sarmad Al-Bayati presented a proposal to radically solve the army's livelihood crisis, after it was raised a lot during the last period.

Al-Bayati said to an unannounced program on the Al-Furat TV channel, "The soldier pays 125,000 in exchange for food meals, and after the great debate about the matter, I see that the amount is given to the soldier himself, and he is the one who deals with the issue of food."

Regarding this file, he added, "The food contractor agrees directly with the Minister of Defense regarding feeding the army and feeding some remote units that are self-sufficient better than the rest of the army."

He pointed out that "follow-up on the soldier's diet is the responsibility of the Minister of Defense and the Chief of Staff, and the committee should direct the self-sufficiency units to check their livelihood."

And he continued, "Modern mechanisms can be adopted to track the course of livelihoods that were cut off," pointing out that "the contract between trade and defense can be terminated if the livelihoods are not good."

Al-Bayati touched on another file, which is the leaking of official books, saying: "We will reach the right track when we stop leaking official books to the media, especially books on which it is written that it is opened in particular and that is in full secrecy and personality."

And he indicated that "the secrecy of official books with varying degrees of accuracy and maintaining the secrecy of official books is the beginning of institutional reform," explaining that "officials traded buying and selling the dollar before its official rise, and this means that everything is being leaked." LINK

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UncleVersie:  The State Administration discusses the election laws and decides to complete the ministerial cabinet

11:16 - 28/11/2022

Baghdad - Mawazine News

The state, Monday, the provincial council and parliament elections laws discussed the management coalition.  The coalition stated in a statement received / Mawazine News / copy From him, that "the coalition of directors The State held its regular meeting today to discuss the latest developments on the national scene and regional and international in the office of Pavel Talabani in the presence of the Prime Minister and the Speaker of the House of Representatives."

The coalition revealed, according to The statement, on "high-level dialogues and meetings to prevent the violation of Iraqi sovereignty from any third party". He stressed on "the work of Iraq is serious about preventing its territory from being used as a springboard to destabilize the security of neighboring countries."

According to the statement, "The meeting decided to complete the ministerial cabinet and name the Ministers of Environment and Housing. and reconstruction."

He explained that "The Coalition listened to a comprehensive report on the provincial council elections law and the MPs discussed the details of the law from the political and technical points of view."

The State Administration discusses the election laws and decides to complete the ministerial cabinet (mawazin.net)

Frank26 "News and Views" From KTFA Sunday PM 11-27-2022

KTFA:

Frank26:  "BECAUSE THE USD IS BEING ELIMINATED AND DEPEGGED BY THE IQD"......F26

Almost half of Iraq's financial surplus has been transferred to US bonds .. Is there a benefit for Baghdad ?

25th November, 2022

Iraq continues to increase its holdings of US bonds at a time when it is witnessing huge numbers of oil revenues as a result of the rise in oil prices, as not a month passes without Iraq buying US bonds, at a value of approximately $1.6 billion per month. 

The US Treasury said in its latest table, "Iraq rose two ranks to rank 32 among the countries with the largest holders of US treasury bonds of 38 countries listed in the table for countries with possessions of more than 32 billion dollars."

She added, "Iraq's possession of these bonds amounted to $36.9 billion for the month of September, up by 3.65% from August of 2022, and up by 105% from the same month of last year 2021." She pointed out that "Iraq was the fourth largest Arab country after Saudi Arabia, Kuwait and the UAE, while Japan came at the top of the countries with the largest possession of these bonds, followed by China second and the United Kingdom third," noting that "the total bonds of the countries of the world amounted to 7 trillion and 296 billion dollars."

And Iraq buys these bonds as a result of achieving a monthly financial surplus, which has a comparison between its expenses and revenues. Speaking of the financial surplus achieved in the current year 2022, Iraq's possession of US bonds in the last month of last year, December, amounted to $22.5 billion.

During the 9 months of this year until September, Iraq's possession of US bonds amounted to $36.9 billion, which means that Iraq bought during the first nine months of this year $14.4 billion in US bonds.

Looking at the accounts of the Iraqi state until September, Iraq's total revenues during 9 months of the year amounted to more than 122 trillion dinars (more than 84 billion dollars), while its expenditures were about 79 trillion dinars (more than 53 billion dollars).

Thus, the surplus achieved by Iraq amounts to 31 billion dollars in 9 months, and during these same nine months, Iraq bought US bonds with 14.4 billion dollars of the achieved financial surplus, which means that more than 46% of Iraq's financial surplus turned into US bonds.

What led to the temptation of Iraq to transfer nearly half of its financial surplus to US bonds is the high interest rate approved by the US Federal Reserve during the current year, and the continuous increase that is expected to reach the end of this year by more than 4%.

Accordingly, Iraq can receive interest a year from now on the value of its current bonds at a value of approximately $1.5 billion, while its interest will rise further with the purchase of more bonds in the coming months with oil prices stabilizing above $70 a barrel, which is the price that represents the limit. The difference between Iraq's expenditures and the possibility of achieving a financial surplus.

And while Iraq bought US bonds with about half of the financial surplus it achieved, the other half is divided between buying gold, which since the beginning of this year amounted to about 34 tons of gold that Iraq bought during this year so far, bringing its reserves to more than 130 tons after it was not it exceeds 96 tons at the beginning of this year.

The average price of a ton of gold globally during the current year is approximately $50 million, which means that Iraq bought gold at $1.7 billion, in addition to bonds at $14.4 billion, meaning that it bought bonds and gold at more than $16 billion, and with this, it has converted more than from 50% of its financial surplus achieved so far into gold and US bonds.  LINK

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Frank26:  "1, 2, 3... GO!!!"............F26

The Central Bank is approaching the end of November with a 50% drop in its sales...and there are 3 reasons behind the drop

26th November, 2022

Numerical data showed the extent of the collapse in currency sales to the Central Bank of Iraq during the month of November, as the total sales so far amounted to $2.353 billion as the month approaches, after monthly sales touched or exceeded $5 billion.

The data showed that November recorded sales of foreign remittances amounting to 1.914 billion dollars, down from foreign remittances for the month of October by 55%, when they were 4.171 billion dollars in October. As for cash sales in November, they amounted to 439 million dollars, down by 43% compared to cash sales in October, when they were 759 million dollars.

This total decline in currency sales, which is approximately 50%, came as of the current month of November, while the reasons that may explain this decline varied. The total sales of the first four days of November amounted to about 536 million dollars, which amounts were made during two or 3 days in the past months, and “Yess Iraq” had previously submitted a report through which it expected that the Central Bank’s sales in November would decrease as a general rate by 40%. 

Experts' expectations came that the decrease is related to the lack of demand for the dollar by citizens due to fears of lowering the price of the dollar by the government, but the information indicates that this decrease is linked to the exclusion of a number of banks that were already alone acquiring 40% of the central bank's sales, such as Ali's banks.

Ghulam, which are the banks of Ansari, Middle East and Al-Qabid, as well as the exclusion of Bank of Asia, all of which were excluded by the Central Bank from dealing in dollars, following directives and warnings from the US Treasury against these banks accused of smuggling currency.

 For its part, the Central Bank of Iraq justified, a few days ago, the reasons for the decrease in the volume of sales of the foreign currency sale window recently, by saying that it is due to the bank’s shift to establishing a new electronic platform for selling dollars and foreign remittances

Frank26:  (A NEW PLATFORM FOR AN INTERNATIONAL FLOAT -F26)

Considering that some banks do not have enough willingness to enter within the automation that started their work. demo.

 An authorized source in the bank told the official agency, "The Central Bank of Iraq is working to automate banking business according to the best banking standards, including the establishment of an electronic platform that organizes the external transfer process through the foreign currency sale window, 

Frank26:  (BECAUSE THE AUCTIONS ARE NO LONGER CORRUPT -F26) 

Similar to the electronic platform that organized the work of letters of guarantee." He added, "Due to the insufficient readiness of the local banks with the start of the trial application of the platform, the implementation of part of the foreign transfers was postponed, which resulted in a decrease in the volume of sales of the foreign currency sale window."

The Central Bank's sales began to decline since the beginning of November, by 30%, after it had exceeded $200 million, to drop to between $120-150 million only. Sources indicate that some banks were excluded from the currency sale window due to sanctions and warnings from the US treasury, which indicates that the banks that were withdrawing currency by “imaginary import” may have been banned and moved away from the currency sale auction.   LINK

Frank26:  "FROM SUDANI TO THE PRESIDENT FOR A QUICK SIGNATURE"..........F26

Al-Sudani stresses the need to complete the draft budget law as quickly as possible

11/26/2022 12:24:42

 Today, Saturday, Prime Minister Muhammad Shia Al-Sudani chaired a meeting dedicated to discussing the draft federal budget law for the year 2023.

Al-Sudani stressed, according to an official statement, of which {Euphrates News} received a copy, "the necessity of completing the budget bill as quickly as possible, and submitting it to the House of Representatives, so that it enters into force without delay."

Al-Sudani stressed that "the law targets, in its allocations, the priorities adopted by the ministerial platform, which are combating unemployment, reducing poverty rates, combating corruption, improving services, as well as reforming the economy."

And he directed that "the draft law takes into account the importance of presenting infrastructure projects over other projects, in order to create the appropriate environment in the internal economy to achieve the adoption of the ministerial curriculum, and to provide service and make a difference that the citizen touches, in the service sector and other economic sectors." LINK

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Frank26:  "KTFA FAMILY... I SAY TO YOU... THE 5TH... THE 9TH... THE 1ST"........F26

Al-Sudani assigned two ministries to expedite the preparation of the budget, and it is likely that it will be approved next year

24th November, 2022

A member of the Finance Committee in the House of Representatives, Mueen Al-Kadhimi, stated, on Thursday, that the Prime Minister, Muhammad Shia' Al-Sudani, assigned the Ministries of Finance and Planning to expedite the preparation of the draft of the country's general budget for the year 2023.

Al-Kadhimi told Shafaq News agency, that the budget will be identical to the government program, and it will include investment areas in a larger proportion compared to previous budgets to move the Iraqi economy, with funds allocated to the governorates in the development of the regions.

He added that the draft budget law will be ready in the Council of Ministers at the beginning of next month with a total amount estimated at 150 trillion dinars, and then it will be sent to the House of Representatives, expecting that Parliament will vote on the budget law after reading and amending it in January 2023.

And the Prime Minister, Muhammad Shia'a al-Sudani, identified, at the beginning of this month, the priorities to focus on are the federal budget law for next year.

This came during his chairmanship of a meeting that included Minister of Finance Taif Sami, Minister of Oil Hayan Abdel Ghani, Minister of Electricity Ziyad Ali Fadel, and a number of advisors. They discussed the file of the draft federal budget law for the year 2023, and the need to expedite its preparation and send it to the House of Representatives.

Al-Sudani directed the importance of the budget being at the level of ambition, and that it prioritize meeting the needs of citizens in terms of services, as well as taking it upon itself to effectively address the problem of electricity shortages, which greatly affected the life of citizens and the economic sectors in the country.

Prime Minister Mohamed Shia Al-Sudani had previously directed the need to prepare the federal budget law for the year 2023 as quickly as possible.

The previous government headed by Mustafa Al-Kadhimi faltered in sending the draft budget law for the year 2022 before the Iraqi parliament in its previous session dissolved itself in preparation for the early elections that took place on the tenth of October 2021.

It is noteworthy that the financial budget for the current year 2022 was not approved by the Council of Ministers and the House of Representatives due to the turmoil that Iraq witnessed after the early elections in October 2021, which escalated to dangerous levels that ended with the events of the Green Zone, with armed confrontations between supporters of the Sadrist movement and the security forces, which claimed lives. Dozens and hundreds injured.

After the end of the crisis, with the agreement of the political blocs to elect the President of the Republic and to grant confidence to the government of Prime Minister Muhammad Shia’a al-Sudani, the latter pledged that he would present the draft federal budget law for the year 2023 as soon as possible.

And a number of specialists considered that the delay in approving the budget for the current year would negatively affect investment projects and delay ongoing projects, in addition to stopping the economic activities of the market in the country in general.  LINK

Some " International News" Posted by Samson at KTFA Sunday 11-27-2022

KTFA:

Note: After 6.5 years of posting the news at KTFA….Today will be Samson’s last day.   Thank you very much Samson for all your hard work and dedication. You will be missed at KTFA and by everyone in Dinarland. Good Luck and God Bless.

Samson:  Al-Araji: The Prime Minister will visit Tehran the day after tomorrow, Tuesday, to discuss several files

11/27/2022 12:17:04

The Iraqi National Security Adviser, Qassem Al-Araji, announced that Prime Minister Muhammad Shia Al-Sudani will visit Iran next Tuesday.

Al-Araji said in a press statement that Al-Sudani will discuss during the visit "several files, including the bombing of the Kurdistan region."

The media office of the Prime Minister announced yesterday that Al-Sudani received Tehran's ambassador to Iraq, Muhammad Kazem Al Sadiq, who conveyed to him the invitation of the Iranian president to visit Tehran.  LINK

Samson:  The Iranian Parliament ratifies Tehran's accession to the Shanghai Cooperation Organization

27th November, 2022
Today, Sunday, the Iranian parliament voted in favor of a bill submitted by the government for Tehran's accession to the Shanghai Cooperation Organization.

The Iranian news agency Mehr reported that full membership in the Shanghai Cooperation Organization would allow for the strengthening of economic and trade cooperation with the Eurasian Economic Union, which would help Iran mitigate the impact of the economic sanctions imposed on it.

She pointed out the importance of this step in view of the international and regional standing of the organization, especially in light of the current developments on the regional and international arenas, the most important of which is the increasing intensity of competition between the United States on the one hand, and China and Russia on the other.

During the meeting held in the Tajik capital, Dushanbe, on September 18, 2021, the members of the Shanghai Cooperation Organization agreed to grant Iran full membership in the organization, after it had enjoyed an observer status for many years.  LINK

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Samson:  Al-Hakim outlines the "shortest way" to restore public confidence in the political system

11/27/2022 13:26:03

The head of the National State Forces Alliance, Mr. Al-Hakim, identified the "shortest way" to restore public confidence in the political system.

A statement from his office, of which {Euphrates News} received a copy, stated that Mr. Al-Hakim "received the head of the Azm Muthanna al-Samarrai coalition, in the presence of Khaled al-Obaidi, and during the meeting he reiterated the importance of supporting the government in its service paths and restoring public confidence in the political system," noting that "providing services represents the shortest way to achieve this goal." 

He called for "greater integration between ministries and local governments, achieving political balance and paying attention to liberated and disadvantaged cities."

Al-Hakim stressed "the importance of supporting the government, strengthening its success factors, and continuing Iraq's openness to its regional and international surroundings."   LINK

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Samson:  Al-Sudani receives the commander of the NATO mission in Iraq

27th November, 2022

The Prime Minister, Commander-in-Chief of the Armed Forces, Muhammad Shia' Al-Sudani, received the commander of the North Atlantic Treaty Organization (NATO) mission in Iraq, Lieutenant General Giovanni Iannucci, and his accompanying delegation.

The media office of the Prime Minister stated: "The meeting reviewed the tasks of the mission, within the framework of security and military cooperation with Iraq, which includes providing advice and training, developing the capabilities of the Iraqi security forces, raising the level of their performance, and enabling them to face various security challenges, foremost of which is the fight against terrorism." 

During the meeting, Al-Sudani stressed the importance of cooperation and high coordination with the mission, as required by the national need, and within the framework of the requirements of the Iraqi government, and in a manner that preserves Iraq's sovereignty and enhances its security and stability.

For his part, Iannucci confirmed that the NATO mission in Iraq continues its cooperation and coordination with the various security services, within the scope of its tasks and duties, in developing the security sector in Iraq. LINK

Samson:  The President of the Republic: The government program needs everyone's cooperation to fight corruption

11/27/2022 15:02:58

The President of the Republic, Abd al-Latif Jamal Rashid, affirmed that the government program needs everyone's cooperation and coordination together in order to combat administrative and financial corruption.

A presidential statement stated that Rasheed received today, Sunday, at the Baghdad Palace, the head of the Office of Financial Supervision, Rafel Yassin Khudair.

The President of the Republic pointed out, "This requires seriousness in choosing the necessary mechanisms to achieve the desired goals and ensure that the citizens' aspirations are fulfilled."

Rashid stressed, "The need to support the oversight institutions in the country to ensure the progress of their work and avoid the obstacles they face, so that these institutions can perform their tasks and achieve their goals."   LINK

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Samson: Move to build 20 dams in northern Iraq

27th November, 2022

Today, Sunday, the local government in Erbil Governorate revealed a move to build 20 dams in the east of the governorate, to prevent floods and recharge groundwater

The deputy administrative governor of Erbil, Hemin Qadir, said in a statement followed by "Al-Ghad Press", that "the areas located east of Erbil governorate include small hills and mountains, and small dams can be built on them through the Irrigation Directorate and the Ministry of Agriculture in Kurdistan," adding that "these dams, which number 20 Dam, it will be smaller than its large counterpart built with concrete, and an amount of eight billion dinars has been allocated for its construction

And he indicated that "the benefit of these dams for the province is represented in preventing floods from occurring in the province's neighborhoods, as they happen every year, in addition to protecting the valleys and roads inhabited by many citizens within the districts and districts of eastern Erbil, in addition to benefiting from them in feeding groundwater and for the purposes of agriculture, watering livestock and breeding." fish, as it will become a water and earthen reservoir, as well as maintaining a constant water level throughout the months of the year,” noting that “the small lakes formed behind the dams can be used to develop the tourism sector in the region  LINK

KTFA Members "Friday News" 11-25-2022

KTFA:

Samson:  A representative request to extinguish the debts incurred by the beneficiaries of social welfare salaries

25th November, 2022

The Presidency of the House of Representatives received an official request, accompanied by parliamentary signatures, for the purpose of extinguishing the debts incurred by the beneficiaries of social welfare salaries, in order to include the debt extinguishing clause within the 2023 general budget

This is due to their inability to pay the debts incurred by them as a result of the difficult living conditions, as well as the wave of high prices that hit the markets and affected these classes.  LINK

Samson:  Putin stresses Russia's keenness to develop the relationship with Iraq

11/24/2022 18:33:47

Today, Thursday, Prime Minister Muhammad Shia Al-Sudani received a phone call from the President of the Federal Republic of Russia, Vladimir Putin.

And the government statement, of which {Euphrates News} received a copy, stated that: "During the call, they discussed the bilateral relations between the two countries, and ways to enhance them, as well as a number of regional and international files of common concern."

During the call, Al-Sudani expressed "the government's keenness to perpetuate the relationship with Russia in various fields," stressing that "the government pursues in its foreign relations a policy of openness and cooperation with Iraq's regional and international environment."

For his part, Putin congratulated the Prime Minister on the occasion of forming the government, expressing his "wishes for the success of its tasks," stressing "Russia's keenness to develop the relationship with Iraq, and the desire to develop it and open horizons for mutual cooperation."

LINK

ATPInfinity:  PUTIN KNOWS SOMETHING BIG AT THIS MOMENT; LOOKS LIKE COMPLETION!

"...Putin congratulated the Prime Minister on the occasion of forming the government,..."OH!!!! SAME DAY "...on Thursday, that the Prime Minister, Muhammad Shia' Al-Sudani, assigned the Ministries of Finance and Planning to expedite the preparation of the draft of the country's general budget for the year 2023."

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Samson:  Indian and Chinese companies acquired the largest share of Iraqi oil exports last month

24th November, 2022

The Iraqi Oil Marketing Company "SOMO" announced today, Thursday, that the Indian and Chinese oil companies were the most numerous to buy Iraqi oil during the month of October.

"Somo" said, in a statistic published on its official website and seen by Shafaq News Agency, "Indian and Chinese companies were the most numerous among other international companies in purchasing Iraqi oil, with 7 companies each out of 34 companies that purchased oil during the month of October." 

"Somo" added that "the American companies came second with 4 companies, then the South Korean companies came with 3 companies, and the Greek and Italian companies came fourth with two companies each, while the rest were distributed among the Spanish, (Dutch-British), Turkish, Russian and Egyptian companies." Emirati, Kuwaiti, Jordanian, and Malaysian companies, with one company for each.

"SOMO" indicated that it "relies in selling Iraqi oil on the main criteria for contracting with large, medium, independent and vertically integrated governmental international oil companies," noting that "the most prominent international companies that bought Iraqi oil are the Indian Hindustan Company, the Korean Cocas, and the Chinese Petrogyna, The American Exxon Mobil, the British Dutch Shell, and the Italian Eni.  LINK

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Samson: Member of Parliamentary Integrity: Major clues behind the theft of the century.. and the evidence is presented

11/25/2022 10:59:22

A member of the Parliamentary Integrity Committee said that there are "big threads" behind those accused of stealing the secretariats of the Tax Authority, which exceeded 3 trillion dinars.

Aliya Nassif told {Euphrates News} agency: "A sub-committee was formed within the Integrity Committee to follow up on the file of the theft of the century," indicating that "there are major threads being traced in this file." She added, "The so-called {Hussein Kawa} was born in the year 2000 and is involved in this case, as it is certain that he is a front for a larger corrupt personality, and that one of the personalities born in 1999 has a wealth estimated at billions of dinars, and this is evidence that they are a cover for bigger personalities." Nassif pointed out that "there is a qualitative development and a great effort, so that they made a qualitative leap in the work of the House of Representatives."

It is noteworthy that last October witnessed the disclosure of a huge embezzlement of trust funds in the General Tax Authority for the amount of 3.7 trillion Iraqi dinars (two and a half billion US dollars), and according to the Integrity Commission, the case is still under investigation to reach all those involved in it. Judicial arrest warrants were also issued against a number of parties to the case, most notably the director of the "Creators" company, Nour Zuhair Al-Muzaffar. A member of the Parliamentary Integrity Committee, Hadi al-Salami, revealed to Furat News yesterday that large sums of stolen money had been recovered.   LINK

Samson: Almost half of Iraq's financial surplus has been transferred to US bonds .. Is there a benefit for Baghdad ?

25th November, 2022

Iraq continues to increase its holdings of US bonds at a time when it is witnessing huge numbers of oil revenues as a result of the rise in oil prices, as not a month passes without Iraq buying US bonds, at a value of approximately $1.6 billion per month. 

The US Treasury said in its latest table, "Iraq rose two ranks to rank 32 among the countries with the largest holders of US treasury bonds of 38 countries listed in the table for countries with possessions of more than 32 billion dollars."

She added, "Iraq's possession of these bonds amounted to $36.9 billion for the month of September, up by 3.65% from August of 2022, and up by 105% from the same month of last year 2021."

She pointed out that "Iraq was the fourth largest Arab country after Saudi Arabia, Kuwait and the UAE, while Japan came at the top of the countries with the largest possession of these bonds, followed by China second and the United Kingdom third," noting that "the total bonds of the countries of the world amounted to 7 trillion and 296 billion dollars."

And Iraq buys these bonds as a result of achieving a monthly financial surplus, which has a comparison between its expenses and revenues. Speaking of the financial surplus achieved in the current year 2022, Iraq's possession of US bonds in the last month of last year, December, amounted to $22.5 billion.

During the 9 months of this year until September, Iraq's possession of US bonds amounted to $36.9 billion, which means that Iraq bought during the first nine months of this year $14.4 billion in US bonds.

Looking at the accounts of the Iraqi state until September, Iraq's total revenues during 9 months of the year amounted to more than 122 trillion dinars (more than 84 billion dollars), while its expenditures were about 79 trillion dinars (more than 53 billion dollars).

Thus, the surplus achieved by Iraq amounts to 31 billion dollars in 9 months, and during these same nine months, Iraq bought US bonds with 14.4 billion dollars of the achieved financial surplus, which means that more than 46% of Iraq's financial surplus turned into US bonds.

What led to the temptation of Iraq to transfer nearly half of its financial surplus to US bonds is the high interest rate approved by the US Federal Reserve during the current year, and the continuous increase that is expected to reach the end of this year by more than 4%.

Accordingly, Iraq can receive interest a year from now on the value of its current bonds at a value of approximately $1.5 billion, while its interest will rise further with the purchase of more bonds in the coming months with oil prices stabilizing above $70 a barrel, which is the price that represents the limit. The difference between Iraq's expenditures and the possibility of achieving a financial surplus.

And while Iraq bought US bonds with about half of the financial surplus it achieved, the other half is divided between buying gold, which since the beginning of this year amounted to about 34 tons of gold that Iraq bought during this year so far, bringing its reserves to more than 130 tons after it was not it exceeds 96 tons at the beginning of this year.

The average price of a ton of gold globally during the current year is approximately $50 million, which means that Iraq bought gold at $1.7 billion, in addition to bonds at $14.4 billion, meaning that it bought bonds and gold at more than $16 billion, and with this, it has converted more than from 50% of its financial surplus achieved so far into gold and US bonds.  LINK

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Samson:  The US State Department places Iraq among the worst countries that are not recommended to visit in 2022

24th November, 2022

The US State Department's travel advisory system ranked Iraq and six Arab countries among the 21 worst countries in the world that are "not recommended" to visit during the current year 2022, attributing the reason for these fears to "crime, terrorism and civil unrest".

According to a report by the American World Population website, seen by Shafaq News Agency, the worst countries in the world to visit came according to the travel advisory system of the US State Department, which is classified in the fourth category, which is represented by the phrase (do not travel).

And the worst 21 countries in the world to visit during the current year 2022, including Iraq and six other Arab countries, and these countries included:

(Afghanistan, Belarus, Burkina Faso, Central African Republic, Haiti, Iran, Iraq, Libya, Mali, Mexico, Myanmar, North Korea, Palestine, Russia, Somalia, South Sudan, Sudan, Syria, Ukraine, Venezuela and Yemen).

And she stated that the fears that referred to Iraq that it is among the 21 worst countries in the world to visit during the current year 2022, came as a result of terrorist attacks posing a constant threat in Iraq, where peaceful demonstrations and protests could turn into violent acts without warning, and that some American citizens are also exposed. at risk of violence or kidnapping. LINK

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Clare:  The Iraqi Trade Bank notes a service for electronic payment of government bills

11-24-2022

 The Iraqi Trade Bank issued, today, Thursday, a notice of the availability of a service to pay government bills electronically.

The media expert at the bank, Aqil Al-Shuwaili, said in a notice received by the Iraqi News Agency (INA), that "the Iraqi Trade Bank would like to inform its customers of the availability of an application for the electronic collection service, through which government bills can be paid electronically through the smart systems of ministries, institutions and collection departments whose revenues are obtained from through bills and fees.

Al-Shuwaili added, "The service will facilitate transactions, simplify procedures, and support the e-government program to enhance and collect resources within a safe and transparent environment, as well as keeping pace with the development of electronic payment methods."   LINK

MilitiaMan Thursday Night "Looking Good IMO" 11-24-2022

KTFA:

Samson:  Al-Sudani assigned two ministries to expedite the preparation of the budget, and it is likely that it will be approved next year

24th November, 2022

A member of the Finance Committee in the House of Representatives, Mueen Al-Kadhimi, stated, on Thursday, that the Prime Minister, Muhammad Shia' Al-Sudani, assigned the Ministries of Finance and Planning to expedite the preparation of the draft of the country's general budget for the year 2023.

Al-Kadhimi told Shafaq News agency, that the budget will be identical to the government program, and it will include investment areas in a larger proportion compared to previous budgets to move the Iraqi economy, with funds allocated to the governorates in the development of the regions.

He added that the draft budget law will be ready in the Council of Ministers at the beginning of next month with a total amount estimated at 150 trillion dinars, and then it will be sent to the House of Representatives, expecting that Parliament will vote on the budget law after reading and amending it in January 2023.

And the Prime Minister, Muhammad Shia'a al-Sudani, identified, at the beginning of this month, the priorities to focus on are the federal budget law for next year.

This came during his chairmanship of a meeting that included Minister of Finance Taif Sami, Minister of Oil Hayan Abdel Ghani, Minister of Electricity Ziyad Ali Fadel, and a number of advisors. They discussed the file of the draft federal budget law for the year 2023, and the need to expedite its preparation and send it to the House of Representatives.

Al-Sudani directed the importance of the budget being at the level of ambition, and that it prioritize meeting the needs of citizens in terms of services, as well as taking it upon itself to effectively address the problem of electricity shortages, which greatly affected the life of citizens and the economic sectors in the country.

Prime Minister Mohamed Shia Al-Sudani had previously directed the need to prepare the federal budget law for the year 2023 as quickly as possible.

The previous government headed by Mustafa Al-Kadhimi faltered in sending the draft budget law for the year 2022 before the Iraqi parliament in its previous session dissolved itself in preparation for the early elections that took place on the tenth of October 2021.

It is noteworthy that the financial budget for the current year 2022 was not approved by the Council of Ministers and the House of Representatives due to the turmoil that Iraq witnessed after the early elections in October 2021, which escalated to dangerous levels that ended with the events of the Green Zone, with armed confrontations between supporters of the Sadrist movement and the security forces, which claimed lives. Dozens and hundreds injured.

After the end of the crisis, with the agreement of the political blocs to elect the President of the Republic and to grant confidence to the government of Prime Minister Muhammad Shia’a al-Sudani, the latter pledged that he would present the draft federal budget law for the year 2023 as soon as possible.

And a number of specialists considered that the delay in approving the budget for the current year would negatively affect investment projects and delay ongoing projects, in addition to stopping the economic activities of the market in the country in general.  LINK

~~~~~~~~~~

MilitiaMan:   I beg to differ with this one to the extent they mention the 2022 budget was not approved. A portion has clearly been hidden though.

 We can thank Al-Sadr for that he waited to dissolve his bloc until the EFSL or EDB was signed into law.

The 1/12th operational side of the 2022 budget has been underway all year. The investment side of the budget has not yet been activated.

The Kurds know that there is a large sum of money in the investment side with their portion in it. The estimated $115 Billion that is in it has likely grown since they estimated the amount back around 06/23/2022 real close due to claw backs from corruption files.

What we are witnessing now is the final effort to sort the two seats in the PM Cabinet and the 2023 budget draft getting from the Council of Ministers to the Parliament.

The reconciled 2022 numbers will likely need to be held close until the last minute for if not it would likely leak out quickly and that is to be avoided per legal issues.

They said the draft would be in the next session. Will they call for an extraordinary season or not is to be determined.

They said there was an urgency in doing so.. But, note they also show us there is a new Ministry Council for Economy (MCOE), that is to have the budget with abundance in there next session.

The first session was 11/14/2022, second on 11/22/2022 and the next one will be when? They don't say. But, if the trend is about a week, then that is not far off now.

 Looking good imo.. ~ Militia Man

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"There is an intention of the government to present the budget, and if it is not during the current month, the legislative term will be extended until it is approved because it has become an urgent necessity in light of the absence of the budget for the current year 2022 with a large financial abundance," noting that "The government has started implementing its ministerial platform and government program, and there are serious attempts to finalize the draft budget and submit it to the parliament."

https://www.mawazin.net/Details.aspx?jimare=212139

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Baghdad - Mawazine News

, Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein directed, on Tuesday, the minister to complete the draft of the state's general budget law in order to discuss it in the next session of the parliament.

The Ministry of Foreign Affairs stated in a statement, which Mawazine News received a copy of, that "Hussein chaired the second meeting of the Ministerial Council for the Economy, in the presence of the Ministers of Planning, Finance, Industry, Trade, Agriculture, the Governor of the Central Bank of Iraq, the Acting Chairman of the National Investment Commission, and the Prime Minister's Advisor for Affairs. economic and legal.

She added, "The council hosted the Minister of Electricity, to discuss the reality of service in this important sector, as well as to overcome difficulties in order to upgrade it. The council also discussed many economic issues on its agenda.

At the end of the meeting, the Minister of Foreign Affairs directed, "to complete the draft law of the state's general budget in order to discuss it in the next session of the Council." 

https://www.mawazin.net/Details.aspx?jimare=212066

Monday Night KTFA CC "I Know What I Know" 11-21-2022

KTFA

Monday Night KTFA CC

Frank26:  11-21-22……I KNOW WHAT I KNOW

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=V7AL03QgYKI