"Tidbits From TNT" Wednesday Morning 10-19-2022

TNT:

CandyKisses:  A joint meeting in Parliamentary Integrity regarding the theft of more than 3 trillion dinar

The Parliamentary Integrity Committee hosted, today, Wednesday, former Acting Finance Minister Ihsan Abdul-Jabbar, Undersecretary Taif Sami, Director of Al-Rafidain Bank and other officials about the theft of two and a half billion dollars from the secretariats of the Tax Authority.

 An informed source said in a press interview, "The Parliamentary Integrity Committee hosted the former Acting Minister of Finance, Ihsan Abdul-Jabbar, the Undersecretary of the Ministry of Finance Taif Sami, the Director General of Al-Rafidain Bank, the Director of the Legal Department in the Ministry of Finance and the Assistant Director General of the Tax Department."

He added that "the meeting was devoted to discussing the reasons for the theft of 2.5 billion dollars (more than 3 trillion dinars) from the secretariats of the Tax Authority."

Tishwash”  “Rumor” is causing a significant drop in dollar prices in Iraq

On Wednesday, specialists attributed the decline in dollar prices in the Iraqi markets to rumors and speculators.

The Oasis Exchange Office said in an interview with Shafaq News Agency, "The rumors circulating about the new government's intention to reduce the price of the dollar against the Iraqi dinar to be 130,000 dinars for 100 dollars, and the possibility that it will be returned to its old price prompted citizens to sell their dollar banknotes. This led to a large supply compared to demand in the local markets.

While a government official considered in an interview with Shafaq News Agency that "speculators in the dollar exchange are active in such markets, taking advantage of the government formation process to spread such rumors with the intention of profit."

He pointed out that "what was circulated a while ago by some officials and representatives about the government's intention to change the dollar exchange rate was denied by the Parliamentary Finance Committee," adding that "the Prime Minister in charge of forming the government had previously admitted that there were negative effects on the decision to raise the dollar exchange."

It is noteworthy that the exchange rates of the dollar decreased in the Iraqi markets, for the Kifah Stock Exchange to trade today, Wednesday, at 147,000 dinars, compared to 100 dollars, after it recorded yesterday, Tuesday, the price of 147,600   link

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Tishwash:  Oil prices rise due to supply problems

Oil prices rose in early Asian trading on Wednesday, paring losses from the previous session, as concerns about tight supplies following reports of low inventories in the United States offset fears of lower demand from China, the largest oil importer

Brent crude futures rose 52 cents, or 0.58 percent, to $90.55 a barrel by 0410 GMT. US West Texas Intermediate crude was at $83.95 a barrel, up $1.13, or 1.4%

Brent and West Texas Intermediate touched two-week lows and fell 1.7% and 3.1% respectively in the previous session on reports of US President Joe Biden's plans to free more barrels from the Strategic Petroleum Reserve (SPR) and concerns about weak Chinese fuel demand

A senior US official said the administration plans in December to sell 15 million barrels of its reserves, which was announced earlier this year of 180 million barrels

Oil price gains capped fears of weak fuel demand from China as it continues its strict COVID-free policy. US crude oil inventories fell by 1.3 million barrels for the week ending October 14, according to market sources citing figures from the American Petroleum Institute on Tuesday

Earlier in October, the Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia agreed to sharply cut oil production by two million barrels per day

The OPEC+ production cut, which comes before the European Union's ban on Russian oil, will squeeze supplies in an already tight market. European Union sanctions on Russian crude and oil products will enter into force in December, February and February, respectively

Mot:  ... Good Job - Yep - This should Work! – siggghhhhhhh

Mot:  ... Men - if Ur Bored and Need Sum Excitement in Ur Life! – then 

Tuesday Evening Iraq Economic News Highlights 10-18-22

Tuesday Evening Iraq Economic News Highlights 10-18-22

Deputy: One Of The Priorities Of The New Government Is Approving The Budget

Iraq   10:06 - 10-18-20-20   The deputy of the State of Law coalition, Muhammad Al-Shammari, confirmed that one of the priorities of the next government is to work on approving the budget immediately after the formation of the new government.

Al-Shammari said in a press statement, "One of the priorities of the next government is approving the general budget on which many citizens' affairs depend," stressing that "after the official vote to form the next government, the general budget will be approved."

He added, "After assigning the Minister of Finance in the next government, he will work to present the general budget directly in order to facilitate state affairs and not be subjected to the position of stopping the payment of salaries."

He continued, "The next government has prepared an integrated program on the work of the new government, which includes improving the living situation of citizens and activating suspended projects."    https://kirkuktv.net/AR/Details/9836

Finance: Investigation And Document Checking Are Still Ongoing By The Judiciary

Economie| 09:26 - 10/17/2022   Today, Monday, the Ministry of Finance issued a statement regarding the acquisition of sums of trusts from the Tax Authority.

In a statement received by Mawazine News, the ministry’s media said, “The Ministry of Finance would like to clarify to the public opinion the background of its legal procedures, and the data on which it was based, in order to protect public money, and diagnose the axes of imbalance:

On September 6, 2022, the former Minister of Finance issued an agency ( The Minister of Oil, Mr. Ihsan Abdul-Jabbar), ordered the formation of an administrative investigation committee, to ascertain data and information on the existence of waste of public money in the trust account of the General Authority for Taxes.

The administrative investigation with the approval of the acting minister, and made precautionary administrative changes, including the dismissal of the head of the General Tax Authority and the staff who applied with him.

He added, "This committee formed by the ministry was not the first, but rather the second, as the former minister, Ali Abdel Amir Allawi, had previously ordered the formation of a similar committee to clarify the facts, and the minister issued orders not to disburse any amounts without his consent since November 2021."

He continued, "The Iraqi Integrity and Judiciary Commission has conducted an investigation into the same issue, since August 2022, as various decisions were issued related to stopping the disbursement of these trusts, and seizing the priorities, records and all documents related to the disbursement of those trusts and the transactions in question for the purpose of checking them. Arrest warrants were issued. against the accused employees, a number of company owners, and the beneficiaries of the disbursement of those funds, and the court heard the statements of witnesses, and the investigation and scrutiny of documents is still continuing by the judiciary.

He pointed out that "on October 10, 2022, the General Tax Authority submitted a detailed final report, with the necessary data and information to the judicial authorities for the purpose of taking legal measures, and in a manner that protects public money," noting that "the Federal Integrity Commission approached with a copy of the information and documents issued by the authority."

The General Tax Authority, based on the directive of the Prime Minister, for the purpose of presenting evidence and clues to the regulatory and judicial bodies to take the necessary legal measures. The Parliamentary Finance Committee and the Parliamentary Integrity Committee were approached with detailed copies of these statements, at their request.

And he continued, "The above procedures, and the investigation that was opened to his death, were able to give the Ministry of Finance precedence in two matters: protecting the remaining amount from the General Tax Authority Fund, first, and preventing the draining of any public money in other places,

secondly," explaining that "despite the fact that All this, in addition to the government’s adoption of the task of detecting and following up on those involved, the Ministry of Finance has noticed a new attack of a political nature aimed at spreading misinformation, through extortion statements to divert responsibility from the actual perpetrators, who will be revealed by the judiciary, with the aim of creating a state of confusion and programmed disorder, which provides Protection and space for the movement of manipulators.

And he added, "The documented information contained in the Ministry of Finance's letter, which is attached to the report of the General Tax Authority, is based on official financial statements, and is documented by the relevant departments of the Tax Authority and Rafidain Bank.

The indicators indicate a defect in the trust account for taxes and customs that goes back years, with the accumulation of The amounts are in the bank account, and the ministry took the initiative to detect the defect and review it according to the controls.”

The statement continued, "The nature of the work structure in the ministry includes the establishment, companies and bodies affiliated with it, to manage their financial affairs in accordance with the laws of their establishment, and in accordance with the powers and principles in force," noting that "the Ministry of Finance continues to coordinate and follow up with the relevant judicial authorities to protect public and private rights, and will follow the procedures All, to prevent any breaches, and to follow up on any manipulation.

However, the political blockage and its repercussions on the public scene, the obsolete backwardness in the Ministry’s work systems and mechanisms, the presence of resistance to preventing modernity and development, and the climates that were created and provided for the spread of corruption in some joints were all major obstacles to any progress in the context of the hoped-for achievements. Despite this, efforts and follow-ups are still continuing to achieve these goals to protect public money and improve performance.

The statement concluded, "The Ministry of Finance calls on all parties not to influence the progress of the current investigations, and to give the regulatory and judicial bodies the appropriate atmosphere to follow up on this case and clarify all its details to public opinion." Ended 29 / p. 87

https://www.mawazin.net/Details.aspx?jimare=208535

The Judiciary Brings In The Director General Of The General Tax Authority, His Assistant, And Officials

Money and business   Economy News-Baghdad   Today, Tuesday, the Supreme Judicial Council announced the recruitment of the Director-General of the General Authority for Taxes and his assistant, and officials, against the background of causing intentional damage to the funds of the Ministry of Finance, by disbursing the amounts of tax trusts.

The council stated that "the second Karkh investigation court, which is specialized in integrity issues, decided to bring in the director general of the General Tax Authority and his assistant, the supervisor of the financial and control department, the agent of the financial department and the director of the financial department."

He added, "The decision to recruit comes in accordance with the provisions of Article 340 of the Penal Code for the charge of causing intentional damage to the funds of the Ministry of Finance by disbursing the amounts of tax deposits."

He pointed out that "the court also issued arrest warrants against the owners of companies and placed a precautionary seizure on their accounts, for which tax trusts were issued, in addition to the formation of a joint audit committee from the Ministry of Finance, the General Authority for Taxes, Rafidain Bank and the Integrity Commission to audit the amounts disbursed."

23 . views   Added 10/18/2022 - 11:25 AM   Update 10/18/2022 - 12:39 PM

https://economy-news.net/content.php?id=30268

Al-Sudani: The Next Government Will Be A Government Of Services That Includes Economic Reforms

Money and business       Prime Minister-designate Muhammad Shia Al-Sudani received, on Monday, German Ambassador to Iraq Martin Jaeger.

During the meeting, according to the statement, "a number of issues and topics related to bilateral relations between the two countries and ways of consolidating them were discussed," and the meeting touched on "the prospects for joint cooperation, and the importance of its development in various fields."

Al-Sudani stressed, "The next government's orientation is towards building balanced relations with its regional and international surroundings, as well as its aspiration to develop cooperation relations with Germany and the whole of the European Union, in a way that enhances common aspirations and aspirations."

He added, "All his efforts are currently focused on forming the government as quickly as possible, and on the basis of accurate selection," stressing that "the next government will be a government of services, including economic reforms, and an investment of oil revenues away from corruption."

He expressed "the future government's aspiration to fruitful cooperation with German companies in the fields of energy and other technical disciplines."

For his part, the German ambassador stressed, "the desire of his country's government to strengthen bilateral relations, in a way that contributes to boosting cooperation and joint coordination at various levels."

He continued, "Iraq urgently needs a government with full powers that realizes the magnitude of the challenges it is facing in the current stage," explaining that "the German government has great interest in making this government succeed and overcome various challenges."

The German ambassador presented a paper containing specific proposals for cooperation between Iraq and Germany in various fields.   Views 288   Added 10/17/2022 - 4:12 PM   Update 10/18/2022 - 12:25 PM   https://economy-news.net/content.php?id=30253

Iraq Is Taking An "Important Step" To Develop The Offshore Exploratory Patch In The Gulf

Energy Economy News – Baghdad The Ministry of Oil confirmed, on Monday, its keenness to develop onshore and offshore exploration blocks to increase the country's oil and gas reserves.

The Undersecretary for Extraction Affairs, Karim Hattab, said, while attending on behalf of Oil Minister Ihsan Abdul-Jabbar Ismail, the signing ceremony for the preparation of a study on the offshore exploration patch between the Oil Exploration Company, CNOOC Middle East and Iraq, China:

"We celebrate together the signing of a joint study contract for the land part of the offshore patch in The Gulf, between the Oil Exploration Company, one of the leading national companies in this field, and Cinoc Iraq and the Middle East. This contract is an important step for the development of the offshore exploration patch in the Gulf, and it is the first experience of a joint exploration study in regional waters.

He added, "The ministry is keen to develop and invest in joint border fields, land or sea and in regional waters, despite the various challenges," stressing that "the ministry has worked to attract international companies for cooperation, work and joint investment to develop the national oil industry."

And he continued, "The ministry affirms its full confidence in the national effort and in the company Cinoc Iraq and the Middle East to complete this study and reach positive results, which contribute to strengthening the oil reserves of oil wealth."

For his part, Director General of the Oil Exploration Company Ali Jassim said, "The Oil Exploration Company, which represents one of the arms of the national effort, was able to achieve important steps in the field of exploration through the spread of seismic teams in many areas of Iraq and conducting surveys for vast areas of our dear country, Including the Western Desert in Anbar Governorate, Tal Afar in Nineveh Governorate, Muthanna, Maysan, Basra and others.

He pointed to "the ministry's continuous support for the work of seismic teams, which work with the latest devices, equipment, mechanisms and advanced technology in this field, believing in maximizing the guaranteed reserves of oil and gas."

In turn, the General Manager of Cinoc Middle East and Iraq, "Vincent Shih", said that "the contract to conduct a joint study of the Arabian Gulf area, which was signed, represents a start to build cooperative relations of a new type between Iraq and Cinoc, and the Iraqi side is keen on this project for close cooperation to achieve Positive and fruitful results and the deepening of exploratory operations,

" noting that "this cooperative relationship will contribute to the development of the oil industry in Iraq, and create a new situation for cooperation in the field of oil and gas between China and Iraq in a way that achieves the common interests of both parties."

Shih added, "Futureful results have been achieved thanks to the joint efforts made by both parties, and we are proud today to announce the signing of the bilateral seismic survey services contract for the land part of the patch with the Oil Exploration Company, and that CNOC announces its readiness to deal with all difficult situations in cooperation with the Ministry of Oil and Gas. Oil, Maysan Oil Company and all partners.     Hits 161   Added 10/17/2022 - 5:46 PM  Update 10/18/2022 - 12:40 PM

https://economy-news.net/content.php?id=30255

The Ministry Of Trade Confirms The Need For Iraq To Import 5 Million Tons Of Wheat During 2023

Iraq   22:05 - 10-17-2022  The General Company for Grain Trade, affiliated to the Ministry of Commerce, confirmed today, Monday, that Iraq needs to import 5 million tons of wheat during 2023, while reassuring that the available stocks of wheat have not been exhausted so far.

The company's assistant general manager, Haider Nuri Jabr, said that "the stockpile of wheat has not been exhausted so far, and there is a continuation in the process of processing for citizens," noting that "during the past 3 years, the wheat crop received more than 5 million tons, which achieved self-sufficiency in country".

He added, "During the current year, we have received only two million and 200 thousand tons, and this quantity is not enough to cover the next year until the marketing season," noting that "next year, due to water scarcity, during which we may receive less than 1.5 million or less of wheat."

He added that " He added, "The General Company for Grain Trade needs large sums of money to import at least two million tons of wheat to cover the four months of next year until the marketing season," noting that "Iraq needs to import 5 million tons of wheat during 2023."

He pointed out that "the funds must be released quickly to import wheat, because the tender needs 75 days to be completed."    https://kirkuktv.net/AR/Details/9833

KTFA Members "News and Views" Tuesday PM 10-18-2022

KTFA:

Samson:  State Administration Coalition: Saturday is the date for voting on the government

10/18/2022 12:32:18

 The State Administration Coalition intends to invite the House of Representatives to hold a session next Saturday to vote on the government with all its members.

 A statement by his office, which {Euphrates News} received a copy of, said: "The State Administration Coalition held its regular meeting yesterday, Monday, which was devoted to discussing the formation of the government, in the office of Parliament Speaker Muhammad al-Halbousi."

"During the meeting, they discussed the latest political developments in the country and the need to expedite the formation of the service government," he added.

The coalition announced its intention to "call the House of Representatives to hold a session next Saturday to vote on the government with all its members."  LINK

Digs:  After YEARS of Iraq dragging their feet on everything & anything, looks like they are now in WARP SPEED to get things done???  Wonder what happened to give them this new found sense of urgency?? AFTER they seat their New Government, wonder if they will continue their WARP SPEED Approach to adjust their IQD (RI / RV)

Zeeman:  they have never worked so so fast in their history. this all happened right after their  meeting in dc. its like someone put a bullet up  their  you know what. hopefully right after they seat their gov the cbi will do the same. Imo

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Samson: Deputy for Al-Fateh: We expected the speedy announcement of the cabinet and presenting it to the vote

10/18/2022 14:32:26

 The representative of the Al-Fateh Alliance, Salem Al-Anbaki, confirmed the expectations of politicians in the speed of announcing the ministerial cabinet and presenting it to the vote.

 Al-Anbaki indicated through {Euphrates News} that: "So far, no date has been set for holding the voting session on the cabinet, but we expected to complete it in the near time and present it to the vote and gain confidence." He added, "It is not important to choose technocratic ministers as important as choosing the minister and the personality he has."

Al-Anbaki said, "We saw the presence of a large number of independent ministers in previous periods who proved their worth, while the ministers of the parties did not succeed in providing anything because of the pressure on them." The State Administration coalition announced its intention to invite the House of Representatives to hold a session next Saturday to vote on the government with all its members. Rashid assigned the candidate of the most numerous parliamentary bloc (the Coordinating Framework) MP Muhammad Shiaa Al-Sudani to form the government within 30 days.

Al-Sudani pledged - in his first televised speech after his assignment to the position - that "he will make every effort to form a strong government that is determined to implement its goals and program through the synergy of political forces by nominating efficient, professional and honest personalities capable of carrying out their responsibilities." He stressed that "exclusion and marginalization will not be allowed in our policies, as the differences have cracked state institutions and lost many opportunities for Iraqis in development, construction and reconstruction."    LINK

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Samson:  The Arab Monetary Fund Organizes A (Remotely) Course On "Applications Of Modern Financial Technologies In The Financial And Banking Sector"

18th October, 2022

The training course on "Applications of modern financial technologies in the financial and banking sector", organized by the Institute for Training and Capacity Building at the Arab Monetary Fund, was inaugurated today, during the period 17-20 October 2022 , through the remote training method adopted by the Fund as a continuation of its training activity.

The acceleration of the entry of modern technologies into economic and financial activity and what is known as the digital revolution in recent times has led to major transformations in the financial and banking industry, in addition to the importance of digital transformation followed by the Corona Virus pandemic , as modern financial technologies have contributed to the continuation of services provided in the public and private sectors. 

Therefore, it is important to strengthen the digital infrastructure of the financial sector, encourage digital transformation, enhance the inclusiveness of digital financial services, and find development and investment opportunities in the areas of financial technology.

The rapid development of modern financial technologies has contributed to the emergence of different business models and new needs of customers, which has had a critical impact on how individuals and institutions obtain financial services, and the potential benefits for both providers and users of financial services. Innovations in modern financial technologies have simplified wealth management, online banking payments, mobile payments, remittances, crowdfunding, IoT, robo-advising, peer-to-peer lending, blockchain, innovations, online identification, and regulation and organizational.

On this occasion, the speech of His Excellency Dr. Abdulrahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund stated:

Ladies and gentlemen,

It gives me great pleasure to welcome you to the opening of a course on "Applications of modern financial technologies in the financial and banking sector" organized by the Institute for Training and Capacity Building in cooperation with the Economic Department, hoping that the course will contribute to enriching and deepening your knowledge on this important subject.

Ladies and gentlemen,

The acceleration of the entry of modern technologies into economic and financial activity and what is known as the digital revolution in recent times has led to major transformations in the financial and banking industry, in addition to the importance of digital transformation followed by the Corona Virus pandemic, as modern financial technologies have contributed to the continuation of services provided in the public and private sectors. Therefore, it is important to strengthen the digital infrastructure of the financial sector, encourage digital transformation, enhance the inclusiveness of digital financial services, and find development and investment opportunities in the areas of financial technology.

Ladies and gentlemen,

The rapid development of modern financial technologies has led to the emergence of different business models and new needs of customers, which has had a critical impact on how individuals and institutions obtain financial services, and the potential benefits for both providers and users of financial services. Innovations in modern financial technologies have simplified wealth management, online banking payments, mobile payments, remittances, crowdfunding, IoT, robo-advising, peer-to-peer lending, blockchain, innovations, online identification, and regulation and organizational.

Ladies and gentlemen,

The payments and remittances sector is one of the most widespread sectors for the use of modern financial technologies in our Arab countries. This sector holds the largest share in the fields of modern financial technologies in our Arab countries, at 44 percent. Modern financial technology companies offer many solutions related to digital wallets for mobile phones, and payment gateways through the international information network, in addition to the opportunities these technologies provide for the regulatory and supervisory authorities in our Arab countries, in terms of using modern financial technologies for regulatory and supervisory purposes.

Ladies and gentlemen,

On the same level, the Arab banking and financial sectors have witnessed rapid developments with regard to the uses and applications of financial technology business models, as this technology has provided a variety of services to the financial and banking sectors, which casts a shadow on the future of traditional banking and financial services. On the other hand, both modern financial technologies and sustainable finance are among the most important pillars of the modern trend in the financial field, as the importance of the link between sustainability, finance, and modern technologies was significantly demonstrated during the period of the repercussions of the Corona pandemic, as the pandemic prompted the relevant authorities to rethink In traditional models, relying more on sustainable modern financial technologies. 

Based on the above, the course will cover the following main themes:

Applications of blockchain technologies in the banking sector.

Central bank digital currencies.

Software application interfaces for payments operations.

Index of Modern Financial Technologies in the Arab Countries.

Big data applications in the financial sector.

The role of modern financial technologies and their applications in Islamic finance.

The positive role of modern financial technologies in climate change and sustainable finance.

The role of modern financial technology applications in achieving financial inclusion.

Digital identity applications in financial services.

Ladies and gentlemen,

In conclusion, I would like to extend my thanks and gratitude to the colleagues at the Arab Monetary Fund for providing the course materials, and I also urge you to take advantage of this occasion to benefit from and interact with the various topics presented, thus maximizing the benefit of the course.

I wish you a successful session and may God protect you wherever you are.

Peace, mercy and blessings of God.   LINK

Iraqi News Highlights Tuesday Afternoon 10-18-22

Iraqi News Highlights Tuesday Afternoon 10-18-22

Tlm724 Administrator Bondlady’s Corner

Blackshart Comments On Tax Deposit Theft

Today, Monday, the United Nations Representative in Iraq, Jenin Plasschaert, called for the money stolen from the Tax Authority at the Ministry of Finance to be returned to its rightful owners.

"What can Iraq do with its billions of lost dollars? Invest it in schools, hospitals, energy, water, roads, etc.," Plasschaert said in a tweet on her Twitter account.

She added, "He will recover these funds and return them to their rightful owners, as well as support the Iraqi government in its investigations, protect those who reveal the facts, and ensure accountability."

https://www.radionawa.com/all-detail.aspx?jimare=31705

Integrity Issues A Statement Regarding The Amounts Stolen From The Tax Authority

Money and business   Economy News-Baghdad  Today, Tuesday, the Federal Integrity Commission issued a statement regarding the amounts stolen from the Tax Authority.

The authority said in a statement that "some media and social networking sites dealt with statements by political, media and academic figures who talked about the issue of the amounts stolen from the secretariats of the General Authority for Taxes deposited in Rafidain Bank branches."

And she added that "the commission relies, in the exercise of its investigative functions, on its effective law No. (30 of 2011) as amended, which deals with these tasks, such as investigating what information comes to it about suspicions of corruption without omitting any report or information, and investigating corruption cases under the supervision of the investigating judge. specialist, and to monitor, investigate and investigate acts of corruption in various institutions, in order to enhance the citizen’s confidence in the authority.”

And she continued, "The information that was received by the authority through the Ministry of Finance was referred to the judiciary, after it was registered as news, and presented to the Integrity Court, which in turn issued arrest warrants against the owners of companies accused of these thefts, and placed a precautionary seizure on their accounts that were issued for their benefit, as well as tax guarantees. On transcribing the statements of the Rafidain Bank branch managers who handed over the stolen amounts, and forming a joint audit committee that includes the Federal Integrity Commission, the Ministry of Finance, the General Tax Authority and the Rafidain Bank.

She made it clear that she "advertises to public opinion everything related to what it accomplishes in corruption cases and what the law allows," warning "anyone who is tempted to spread false news or declare inaccurate information about her work, from being subjected to legal accountability."

The authority called on the public and the media to receive information about its activities and achievements from the windows of the official body, and not to pay attention to attempts to confuse its work and falsify the facts practiced by some media platforms that try to engage them in debates and media sparring on the necessity of “attempts to adhere to this topic.” miserable."

107 . views   Added 10/18/2022 - 1:52 PM   Update 10/18/2022 - 5:42 PM  

https://economy-news.net/content.php?id=30271

Parliament Hosts Minister And Undersecretary Of Finance On Lost Money From Tax Trusts

Money and business   Economy News-Baghdad   Today, Tuesday, the Parliamentary Finance Committee hosted the Minister and Undersecretary of the Ministry of Finance regarding the missing funds from the tax trusts.

The Parliament's media department stated, in a statement, that "the Parliamentary Finance Committee hosted today the Minister of Finance, Hayam Neamat Agency, the Undersecretary of the Ministry, Taif Sami, and managers from the Rafidain Bank and the tax."  The statement added, "The hosting included a discussion of the merits of the lost funds from the tax deposits amounting to 3.7 trillion dinars."

Views 175   Added 10/18/2022 - 1:54 PM   Update 10/18/2022 - 5:39 PM

https://economy-news.net/content.php?id=30272

OPEC: We Expect Energy Demand To Rise By 23 Percent

Economie| 05:10 - 10/18/2022   Follow-up - Mawazine News  , Haitham Al-Ghais, Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), expected, on Tuesday, a 23% increase in energy demand, while he once again defended the decision of the OPEC Plus group to reduce production by about two million barrels.

Al-Ghais said in a statement, "OPEC Plus acted unanimously and took its decision to ensure the stability of global oil markets, and we expect the demand for energy to rise sharply by up to 23% in the coming period."

He added, "Failure to provide the necessary investments for the oil sector may lead to shortages and fluctuations, and this sector needs 12.1 trillion dollars in investments in the long term." Ended

https://www.mawazin.net/Details.aspx?jimare=208612

Al-Halbousi Discusses With The American Ambassador The Ongoing Steps To Complete The Formation Of A Government

Political | 04:23 - 10/18/2022   Baghdad - Mawazine News   On Tuesday, Parliament Speaker Mohammed al-Halbousi received the US ambassador to Iraq, Alina Romanowski.

A statement by Al-Halbousi's office said, "Mawazine News" received a copy of it, that "the meeting discussed the latest developments in the political situation in the country, and the ongoing steps to complete the formation of a government that addresses the needs of the people and meets their aspirations." Ended 29/R77        https://www.mawazin.net/Details.aspx?jimare=208607

Kurdistan Government: We Are Ready To Negotiate With Baghdad At Any Time

Political | 02:03 - 10/18/2022   Baghdad - Mawazine News   The Kurdistan Regional Government confirmed, on Tuesday, its readiness to negotiate with the central government in Baghdad over three files.

The spokesman for the Kurdistan Regional Government, Gutiar Adel, said in a joint press conference with the Minister of Natural Resources in the region, Kamal Muhammad, that "the regional government is ready to negotiate with the central government, and there is a government program in the matter of negotiation, the most important of which is the oil and Peshmerga files and Article 140."

Adel added, "The central government in Baghdad sent twice an amount of 200 billion dinars this year," stressing "the regional government's readiness to negotiate at any time."

He pointed out, "The request of the Council of Ministers of the Territory to secure white oil for citizens, especially first for the mountainous areas, because the winter season is at the door." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=208587

Rising Oil Prices In World Markets

Economie| 09:20 - 10/18/2022   Follow-up - Mawazine News:  Oil prices rose in early Asian trading, Tuesday, with the support of the weakness of the US dollar, despite rising shale production and fears that rising inflation would push the global economy into a recession with limited gains.

Brent crude futures rose 38 cents, or 0.4%, to $92.00 a barrel by 04:20 GMT.

US West Texas Intermediate crude futures also rose 45 cents, or 0.5%, to $85.91 a barrel. Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=208551

A Decrease In The Exchange Rate Of The Dollar Against The Dinar

Economie| 10:02 - 10/18/2022   Baghdad - Mawazine News

The dollar exchange rates witnessed, today, Tuesday, a decrease in the Iraqi Stock Exchange.

Selling price: 147.600 dinars per $100   purchase price: 147.500 dinars per $100

https://www.mawazin.net/Details.aspx?jimare=208559

The Largest Deal For Iraq' .. (Baghdad Today) Publishes The Documents Of Buying 30 Tons Of Gold In International Banks

3,102 Economy 2022/10/17 11:28  Baghdad today- Baghdad  The First Deputy Chairman of the Parliamentary Integrity Committee, Alia Nassif, asked the Central Bank Governor Mustafa Ghaleb Makhif about the bank’s purchase of 30 tons of gold.

According to the documents issued by the date of last August 29, which it obtained (Baghdad Today), Nassif said,

"We received information that the bank bought more than (30) tons of gold, which is its largest deal in buying the central bank, please answer the questions."  Nassif added in her question:

"Who is the source of the sale, a government bank, a special mine, a king, and

is the gold examined in internationally recognized refineries, and

who is the authority in charge of the purchase, and

what is the purchase price and is there a discount on the price of the stock market in force now the opponent 6%".

She also demanded, "to know whether the transfer of gold to the central banks’ struggles or the seller remained in his reign in the shadow of what is taking place in Iraq.

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On the other hand, the central governor answered, according to the documents, that

"the source of the sale of gold is the global stock exchanges, and that all the gold that was purchased from the global markets within the specifications (London Good Delivery), and the highest degrees of purity available in the market 999.9".

On the authority in charge of the purchase, the governor replied that it is the "French Central and the JP-MORGAN".

As for the purchase price, and is there a discount on the price of the stock market in place now, the opponent is 6%.

Makhifi explained that

"the process of buying gold from the global markets is not done at once in such quantities, as it is divided into small quantities and on multiple days to ensure that it does not affect The price of gold, and despite this, there is an increase in the price at or after the purchase request.

The Governor of the Central of Iraq indicated that

"for this process, it included (19) payments and over (13) working days according to the best prices,"

noting that

"all the quantities of gold purchased in the preservation treasures under the name of the Central Bank of Iraq in the global central banks yet Two or three days of work from the purchase. "

In his answer to MP Alia Nassif's questions, the governor pointed out that

"Iraq has been submitted in the holding of reserves of gold 10 globally, ahead of (9 countries, including 7 foreign countries and 2 Arab countries, as well as the International Settlement Bank Foundation), to become Iraq 30th It was 40.      LINK

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https://baghdadtoday.news/template/admin/js/ckeditor/plugins/fileman/Uploads/%D8%B0%D9%87%D8%A83.jp

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

"Vietnam News" Posted by Samson at KTFA Tuesday 10-18-2022

KTFA:

Samson:  Việt Nam shines amid global economic volatilities

18th October, 2022

Despite global volatilities, Việt Nam’s economy has rebounded strongly this year beyond the forecasts of many international organisations, making the country one of the rare bright spots in the global gloomy picture and has the potential to become a new ‘tiger’ in Asia.

The latest report from the General Statistics Office (GSO) showed Việt Nam's GDP growth rate in the first nine months of 2022 hit a 12-year high to reach 8.83 per cent. Notably, the economy expanded 13.76 per cent in Q3 2022 compared to 7.72 per cent and 5.05 per cent in Q2 and Q1 2022, respectively. The 13.7 per cent GDP expansion in Q3 2022 was a record quarterly growth rate in Việt Nam and surpassed the rate of 13.5 per cent of India to become the highest in Asia this year.

The World Bank attributed Việt Nam’s rebound to a recovery of exports and the release of pent-up demand following the removal of COVID-19-related mobility restrictions and, more recently, the gradual return of foreign tourists.

Việt Nam’s economic growth was reported in all three key sectors, of which services increased by 10.57 per cent, industry-construction up 9.63 per cent, and agriculture-forestry-fishery up 2.99 per cent.

The country’s import-export turnover during the period increased by 15.1 per cent to US$558.5 billion with a trade surplus of $6.52 billion while total retail sales of consumer goods and services surged by 21 per cent. Besides, the business situation has been continually improving, with the number of newly established enterprises surging by 38.6 per cent to more than 163,000.

Disbursement of foreign direct investment (FDI) in the first nine months of this year also surged 16.2 per cent year-on-year to $15.4 billion, marking a five-year record high, the Ministry of Planning and Investment's Foreign Investment Agency (FIA) reported.

These positive figures showed foreign-invested enterprises have been constantly recovering and expanding their production and business activities in Việt Nam, which has reflected business confidence in the country’s success in maintaining macroeconomic stability, FIA said in its September report.

According to Prime Minister Phạm Minh Chính, the economy has recovered very positively, with many cities and provinces nationwide reporting impressive Gross Regional Domestic Product (GRDP) growth in the first three quarters, including HCM City with 9.97 per cent, Hà Nội with 9.69 per cent, Bắc Ninh with 9.7 per cent, Hải Dương with 10.14 per cent, Quảng Ninh with 10.12 per cent, Hải Phòng with 12.06 per cent, Cần Thơ with 17.57 per cent, Đà Nẵng with 16.76 per cent, Khánh Hòa with 20.48 per cent and Bắc Giang with 23.98 per cent.

Notably, Minister of Planning and Investment Nguyễn Chí Dũng said the country’s high economic growth has been accompanied by stabilising the macro-economy, successfully controlling inflation, ensuring major balances of the economy and improving people's living standards.

The GSO reported the country’s average consumer price index in the first nine months was only 2.73 per cent while State budget revenue and total investment capital of the whole society surged by 22 per cent and 12.5 per cent over the same period in 2021, respectively.

Many international organisations have been so far surprised by the very high growth rate of above 13 per cent of Việt Nam in the third quarter of this year. The impressive surge has resulted in their upgrade of the country’s economic growth forecast, of which Moody’s, Fitch Ratings, World Bank (WB) and International Monetary Fund (IMF) predict Việt Nam's GDP growth in 2022 at 8.5 per cent, 7.9 per cent, 7.2 per cent and 7 per cent, respectively.

The upgrade is very notable when the organisations have lowered their 2022 global economic growth outlook. For example, in last month’s report, while having raised its GDP growth forecast for Việt Nam this year to 7.5 per cent from 5.3 per cent in April, the World Bank projected the overall rate of the East Asia and Pacific region to slow to 3.2 per cent this year from 7.2 per cent in 2021.

Moody's Investors Service last month also upgraded the Vietnamese Government's long-term issuer and senior unsecured ratings to Ba2 from Ba3. Việt Nam is the only country in the Asia-Pacific region and one of four countries in the world that have had their credit rating upgraded by Moody's since the beginning of the year.

Moody’s noted in the report: “The upgrade to Ba2 reflects Việt Nam's growing economic strengths relative to peers and greater resilience to external macroeconomic shocks that are indicative of improved policy effectiveness, and which Moody's expects to continue as the economy benefits from supply chain reconfiguration, export diversification and continued inbound investment in manufacturing.

“The rating also reflects a sounder fiscal footing backed by contained borrowing costs, a conservative approach to fiscal policy and improved government liquidity, driven by the ongoing transition from external concessional borrowing toward longer-dated, low-cost domestic market financing.”

According to Trần Văn Sơn, Minister of the Government Office, international organisations have positive assessments of Việt Nam's socio-economic situation. They forecast the country's economic growth rates in 2022 and 2023 will be among the highest in Southeast Asia.

Economist Brian Lee Shun Rong at Malaysia's largest financial services group Maybank believed as a rising star in the global supply chain, Việt Nam has the potential to become a new ‘tiger’ in Asia after the Republic of Korea (RoK), Singapore, and China's Taiwan and Hong Kong.

Exceeding targets

The strong GDP recovery in the first nine months of the year, especially in Q3, has created a prerequisite for Việt Nam’s vigorous growth in 2022 and the country is so far estimated to meet nearly all 15 targets set for this year. According to the National Assembly's (NA) Committee for Economic Affairs, 15 social-economic development targets, except the social labour productivity growth rate, are expected to be met or exceeded this year.

Right after the nine-month socio-economic statistics were published, the Ministry of Planning and Investment also decided to adjust up the 2022 economic growth scenario. Accordingly, the ministry proposes to strive for a full-year growth of 8 per cent, about 1.5-2 percentage points higher than the 6-6.5 per cent target assigned by the National Assembly and set by the Government.

According to experts, production and service activities in Việt Nam have returned to normal and the country will continually benefit from the global supply chain shift, which will contribute to strongly boosting up the country’s exports. However, in the context that the world economy will continue to face many difficulties in the last months of the year and the demand for imported goods from countries that are the main trading partners of Việt Nam such as the US and the EU will decrease, members of the NA’s Committee for Economic Affairs said it is necessary to have policies to support credit for exports in the remaining months of the year and in 2023. Besides, Minister Dũng noted the country needs to promote the disbursement of public investment capital to achieve a high growth rate in the rest months of the year.

According to the Ministry of Finance, the total public investment capital will be some $24.3 billion in 2022, about $4.2 billion larger than in 2021. By the end of September, the disbursement of public investment increased to more than $10.6 billion, but the new rate reached merely 46.7 per cent of the plan assigned by the Prime Minister, 0.7 per cent lower than in the same period 2021.

Besides, Dũng said, to promote economic growth in Q4, it is also necessary to better implement the Government’s socio-economic development and recovery programme, which includes a VNĐ40 trillion interest subsidy package for pandemic-affected customers, as the capital disbursement of the package remains limited.  Higher economic growth rates in Q4 and the whole of 2022 will be a driver for the country next year when many potential risks emerge, Dũng said.  LINK

Samson:  FDI inflow from Korea helps Vietnam move up global value chain ladder

18th October, 2022

The strong foreign direct investment (FDI) inflow from the Republic of Korea (RoK) has been giving a significant push to Việt Nam in the battle to move up the global value chain ladder and promote sustainable development.

RoK has been by far the most important source of FDI to Việt Nam and contributed greatly to accelerating the socio-economic development of the Southeast Asian country.

The latest figures of the Ministry of Planning and Investment (MPI) showed that the cumulative registered FDI from the RoK in the period from 1988 – when the first Law on Foreign Investment of Việt Nam was put in force - to September 2022 amounted to more than US$80.5 billion with more than 9,400 valid projects, making RoK the biggest investor in Việt Nam so far.

Starting to invest in Việt Nam in 1990s, the RoK quickly became a major investor in the Southeast Asia country, especially after the two countries established the strategic cooperative partnership in 2009. Since the Việt Nam – Korea Free Trade Agreement (VKFTA) officially came into effect in 2015, the RoK’s registed FDI into Việt Nam almost doubled.

The milestone was marked in 2014 when the RoK became the largest investor in Việt Nam with a total registered capital of $7.32 billion. Statistics of the Ministry of Planning and Investment showed that the registered FDI from the RoK hit a record of $8.49 billion in 2017 but slowed down to $7.2 billion in 2018 and $7.57 billion in 2019.

Due to the impacts of the COVID-19 pandemic, the FDI from the RoK dropped to $3.95 billion in 2020 but bounced back to $4.95 billion in 2021.

From January to September this year, the RoK registed to pour $3.8 billion worth of FDI in Việt Nam, a slight drop of 2.38 per cent against the same period last year. Although ranking second in terms of registered FDI value in the January-September period after Singapore, the RoK was the partner with the highest number of investors who showed interest and made new investment decisions in Việt Nam in the period, the ministry’s report revealed.

The RoK was increasingly becoming an important investor in Việt Nam, not only because of its huge capital value but also because of the compatibility of the investment to Việt Nam’s FDI attraction policies. The presence of Korean enterprises in most economic sectors in Việt Nam was contributing significantly to the country’s economic restructuring, export growth and job creation.

According to the MPI's Foreign Investment Agency, Korean investment was mainly poured into the processing and manufacturing industry (74 per cent as of November 20, 2021) thanks to the heavy investment of high-profile investors such as Samsung, LG, Hyundai, and Posco, followed by the real estate business (13.1 per cent) and construction (3.8 per cent).

Research by Bùi Thị Hồng Ngọc and Đoàn Thị Thu Hương from the Việt Nam Institute of Economics pointed out that the strong FDI inflow from the RoK helped Việt Nam upgrade its participation in the global value chain as well as change the export structure. Việt Nam’s export structure was shifting from large percentage of low added value products like agro-foresty-fishery and raw materials to products with high technology content and high added value such as electronics.

The presence of Korean investors such as Samsung, LG, Hyosung, Hanwha, Hyundai, CJ, Lotte and Posco promoted the development of the part-supply industry in Việt Nam.

Notably, the network of local vendors to Samsung increased to 254 as of the end of 2021, 51 of which were tier-1 vendors, from just four in 2014.

Samsung, now the most high-profile Korean investor in Việt Nam with an estimated investment of more than $20 billion, said that the group would continue to provide support to enable domestic enterprises to participate more in the global value chain.

It was estimated that there were more than 8,000 Korean enterprises operating in Việt Nam which provided 1 million jobs domestically and contributed around 25-30 per cent of Việt Nam’s export revenue every year.

How to remain a FDI sweet spot to RoK

Việt Nam has been arising as an attractive destination for FDI in the global production shift, thanks to its stable macro-economy and the Government’s drastic efforts to improve the investment climate.

The Vietnamese economy scale reached $370 billion in 2021, making it the fourth largest economy in Southeast Asia with income per capita of more than $3,700. Việt Nam signed 15 FTAs with more than 60 countries and territories, including the largest markets in the world, which helped diversify the markets, products and supply chains.

The General Statistics Office expected the Vietnamese economy to beat the target to reach a growth rate of around 7.5-8 per cent this year, after strong post-pandemic growth of 8.83 per cent recorded in the first nine months of this year.

The International Monetary Fund (IMF) on October 11 forecast the Vietnamese economy to expand at 7 per cent this year, compared to 2.6 per cent in 2021, as the country was benefiting from its growing importance in global supply chains.

The Vietnamese economy was a highlight in the region when the IMF’s growth forecasts for Asia and the Pacific were lowered to 4 per cent this year, well below the 5.5 per cent average over the last two decades, as inflation exceeded central bank targets in most countries.

The ASEAN+3 Macroeconomic Research Office (AMRO) in its 2022 Annual Consultation Report on Việt Nam published on October 12 also predicted 7 per cent growth for Việt Nam in 2022 on the back of strong external demand, a recovery in domestic demand and strong FDI inflows.

AMRO’s previous studies suggested that strong FDI inflows were one of the key factors behind Việt Nam’s economic transition to manufacturing, leading to stronger participation in global value chains over the years. However, the annual export growth of Việt Nam was driven by FDI companies and their import-export activities, which unfortunately implied that local companies did not participate in the global value chains as much. One of the reasons was that many local companies did not yet possess the skills and capabilities to produce the quality inputs required by multinational companies. AMRO urged Việt Nam to make further efforts to develop domestic supporting industries in the manufacturing value chains.

Phạm Thanh Tùng from the Ministry of Industry and Trade’s Department of Industry said that it was important to enable more and more local companies to participate in the global value chains to maximise the benefits of the FDI inflows. He pointed out that there were currently about 5,000 enterprises operating in the part-supply industry, 88 per cent of which were of small and medium scale with limitations in production and technology capabilities.

A recent MPI's report to the Government revealed that the loose linkage between the FDI and local companies remained the biggest limitation in FDI attraction and use. The average local procurement remained low, at around 20-25 per cent.

It’s a tough road for Vietnamese enterprises to participate and move up the global value chain ladder, Trần Thị Lan Anh, General Secretary of the Việt Nam Chamber of Commerce and Industry said, stressing the important roles of the FDI inflows and the support in improving capacity for domestic partners from FDI companies.

Just support from FDI companies could not push the supporting industry, Đỗ Thị Thuý Hương from the Việt Nam Electronic Industry Association said, adding that the Government should raise policies to promote the development of the supporting industry. Local companies must also make efforts to improve their competitiveness, she said.

Yoon Chang Woo, President of Posco – Vietnam, said that Việt Nam needed to develop an ecosystem for the part-supply industry in which local companies could produce high-quality and reasonably-priced spare parts and could upgrade their participation in the supply chains of FDI companies. Only through this, could Việt Nam attract more FDI into industries with high added value. In addition, it was important for Việt Nam to enhance the quality of the labour force with a focus on well-trained technical talents in order to attract quality FDI, including from the RoK, he stressed.

With a young population, Việt Nam held great potential to become a powerhouse of skilled workers which would help attract more sophisticated FDI. He said that a number of Korean firms were looking to promote investment into Việt Nam, urging more efforts from the Vietnamese Government to continue to push on with its economic reforms and improve the investment climate.

The global trends such as zero emission and digitalisation which were promoted strongly in Việt Nam would also help attract quality FDI into the country, Yoon stressed.

At the dialogue with the RoK’s Ambassador Park Noh-wan and representatives of Korean associations and enterprises in Hà Nội in late July, Prime Minister Phạm Minh Chính pledged to create more favourable conditions for foreign investors in general and the Korean business community in particular, to invest efficiently, successfully and sustainably in Việt Nam, with a focus on administrative reforms.

Việt Nam expected to receive more investment from the RoK in the fields of high technology, innovation, research and development, digital technology, renewable energy, electronics and infrastructure development, Chính said.

The Prime Minister expressed hope that the FDI inflow from the RoK would help integrate local firms into the global supply chain network while promoting the development of a digital economy, green economy, circular economy and sustainable development of Việt Nam. 

VIDEO IN ENGLISH - Promoting investment flow from South Korea into Vietnam   LINK

Tuesday AM Iraq Parliament News Highlights 10-18-22

Tuesday AM Iraq Parliament News Highlights 10-18-22

Negotiations To Form The Iraqi Government: Political Forces Determine Their Conditions

Baghdad   fair deputies  October 17 2022   Parties in the "Coordination Council" demanded an end to the US presence in Iraq (Yunus Kilis/Anadolu Agency)

Yesterday, Sunday, Iraqi political forces revealed that they had written the conditions required of the government of Muhammad Shia Al-Sudani in exchange for a vote of confidence, stressing that they had informed the "coordinating framework" forces that they sought to be a partner in the decision and not only in government positions.

Al-Sudani began the movement to form his government by conducting dialogues and negotiations with the political blocs and parties, amid an emphasis on accelerating the process of forming the government in the near future, due to the great political support that Al-Sudani receives from all parties.

Hassan al-Jubouri, a member of the "Sovereignty" coalition, representing the Sunni Arabs in Iraq, told Al-Araby Al-Jadeed that the most important conditions for the Sunni Arab political forces are that they "be a key partner in decisions and not just participate in the government."

Hassan Al-Jubouri: The most important conditions for the Sunni Arab political forces to be a key partner in decisions

Al-Jubouri added that "the conditions currently being raised, which were put before Al-Sudani, are to reveal the fate of the disappeared and the kidnapped, to return all the displaced, to compensate all those affected, and to end the file of accountability and justice, as well as a general amnesty for all innocents in Iraqi prisons."

He considered that "these demands will be the negotiating paper for the formation of the new government. Al-Sudani's acceptance of them, and then the failure to implement them after forming his government, will push us to take decisions and political positions towards his government. It is not possible to accept the delay of these demands during the next stage."

Re-opening the file of the American presence in Iraq

Amid political assertions of the existence of a specific demands paper that also includes the issue of restoring balance within state departments and institutions according to the population distribution in Iraq, in reference to the sectarian and component imbalance due to the policies of previous governments, specifically the governments of Nuri al-Maliki between 2006 and 2014, a deputy from the "Coordination Framework" coalition said. To Al-Araby Al-Jadeed, some of the coalition parties have reopened the issue of the American presence in Iraq and the importance of turning its page completely.

Negotiations to form the Iraqi government: political forces determine their conditions

political biography

Assigning Muhammad Shia Al-Sudani: an uneasy task to form the ninth Iraqi government

The deputy explained that a wing within the coordination framework, such as Al-Asaib, Hezbollah Brigades, the Badr Organization and State of Law, "with a review of the US presence agreement, calling for its termination, even at the level of training and advisory forces."

The leader of the Kurdistan Democratic Party, Mahdi Abdul Karim, told Al-Araby Al-Jadeed that "the Kurdish forces want, during the next stage, to have a balance process within state institutions in general."

Terms of the "Kurdistan Democratic Party"

Abdul Karim added that "the Kurdistan Democratic Party will work to implement the demands that the people of the Kurdistan region deserve, which is the issue of exporting oil from its fields, and the file of Article 140 of the Constitution (the disputed areas over administration between Baghdad and Erbil), as well as the normalization of the situation in Kirkuk, and the rights of the region." The full budget includes salaries, etc. These are the main points that will be in the negotiating paper with Al-Sudani and the framework forces that nominated him for this position.

He revealed that "real negotiations on these conditions, and other conditions of the other political forces, will start within a few days. These conditions were presented to Al-Sudani and the general framework forces earlier."

Refusal of conditions contrary to the Constitution and the law

In turn, a member of the Coordination Framework, Mahmoud Al-Hayani, considered that imposing a condition on the candidate of his alliance to accept granting his government confidence by the rest of the political forces is "a matter of discussion."

He said, in a telephone conversation with Al-Araby Al-Jadeed, that "the framework and its candidate to form the government will not accept the imposition of any conditions that violate the constitution and the law, but will work to address some problems that previous governments were unable to solve according to the constitution and the law."

Al-Hayani stressed that "the coordination framework will not accept open concessions, and dialogues with political forces must be within the constitution and the law. Some of the demands of the political forces are binding on the next government, such as returning the displaced and other files that were not resolved by previous governments."

He added that "the dialogues to form the government are taking place in a very positive atmosphere, and the Prime Minister-designate started his movement two days ago, and he is continuing to meet with all political forces to reach understandings aimed at accelerating the formation of the government during the next few days."

Al-Sudani will tentatively agree to the terms

Political analyst Maher Judeh said, in an interview with Al-Araby Al-Jadeed, that "with all negotiations to form a new government, some political parties impose conditions and demands, and those who are assigned to form the government always agree to them in order to prevent obstruction of the formation of his government. For this reason, the Sudanese will agree in principle On the terms of the Sunni, Kurdish, and even Shiite blocs.

Mahmoud Al-Hayani: The framework and his candidate to form the government will not accept the imposition of any conditions that violate the constitution and the law

Judeh indicated that "the problems facing the political forces are the implementation of the demands and conditions after the formation of the new government. There are no real guarantees for the application of these conditions and demands despite their approval, especially since the demands of the Sunni and Kurdish forces are the same that they raise in every negotiation process to form the new government, since many years."

He added that " the problems and differences between the political parties and the prime minister always appear not long after the formation of the government, and this is caused by the failure to implement the conditions and demands on the basis of which the political forces agreed to support and form the government."

After a marathon parliament session that lasted more than 7 hours, last Thursday, in which the leader of the Patriotic Union of Kurdistan, Abdul Latif Rashid, was elected as the new president of the country, the candidate of the “Coordination Framework” coalition, Muhammad Shiaa Al-Sudani, was tasked with forming the ninth government since the US invasion in 2003.

The Sadrist Movement, led by Muqtada al-Sadr, attacked, on Saturday, the efforts of the "coordinating framework" to form a "tested militia coalition" government , as he put it, again refusing to participate in it, and speaking of efforts to satisfy the movement by granting him positions in that government. This is the first position of the Sadrist movement regarding the efforts to form the new government, as the movement had specified its demands to dissolve parliament and hold new early elections.

The Iraqi crisis has deviated in recent months towards the street and the use of weapons between the forces of the "coordinating framework" and the Sadrist movement, while there is currently anticipation in terms of the reaction that he is expected to take after the accelerated political developments. LINK

The US Ambassador Visits Al-Sudani And Praises His Focus In The Anti-Corruption File

Monday, 10-17-2022, AM 11:52   Tayseer Al-Assadi   The US ambassador visits Al-Sudani and praises his focus in the anti-corruption file 9-1665996778

Prime Minister-designate Muhammad Shiaa al-Sudani received, on Sunday evening, the US ambassador to Iraq, Alina Romanowski, his office announced on Monday morning.

Al-Sudani's office said in a press statement that the meeting witnessed discussions on bilateral relations and common interests between the two countries and ways to develop them, and the importance of working to enhance security and stability in Iraq and the region during the next stage.

The meeting also witnessed, according to the statement, Al-Sudani’s affirmation of Iraq’s desire to consolidate a strategic partnership relationship with the United States by strengthening work on the Strategic Framework Agreement in its various economic, educational, cultural and political aspects and issues of facing the effects of climate change, as well as security cooperation in the field of providing support and advice To empower the Iraqi security forces.

The Prime Minister-designate expressed the future government's keenness to continue dialogue at the national level inside and outside Parliament, and to strive to resolve internal contentious issues.

Al-Sudani stressed the importance of building distinguished and balanced international relations, in the interest of the Iraqi people, and building bridges of cooperation with brotherly and friendly peoples in the regional and international environments.

For her part, the US ambassador affirmed the US government's support for a secure, stable, prosperous and united federal and sovereign Iraq, and expressed her country's government's readiness to assist Iraq in combating corruption, and praised Al-Sudani's focus in achieving progress in this file, according to the statement.

She also conveyed the US administration's desire to continue cooperating with Iraq to defeat ISIS remnants and combat terrorism, noting that Iraq represents an essential and strategic component in the region.     http://non14.net/public/151686

Observers: The Blocs Reneged On Their Promises To Hold Early Elections

Posted On2022-10-18 By Sotaliraq    Baghdad/ Firas Adnan    Observers say that the political blocs have reneged on their promises to go to early elections, stressing that the next government will be formed on the basis of quotas and those close to political leaders.

The researcher in political affairs, Ziad Al-Arar, said that “Iraq has returned to the usual scenario in forming the previous government on the basis of consensus and quotas.”

Al-Arar added, "Attention is still directed to the leader of the Sadrist movement, Muqtada al-Sadr, with the hope that something will be issued by him."

He pointed out that "what happened in Iraq is a very strange process, in the name of democracy, which excludes the political majority and withdraws the first winner in the elections."

Al-Arar pointed out that "other political forces continued to insist that they do not want to go to a new scene other than the scenario that the Iraqis previously rejected."

He explained, "The Prime Minister-designate, Muhammad Shia Al-Sudani, is in an unenviable situation, and the road ahead will not be as easy as some imagine."

Al-Arar stressed, "The political forces, with the exception of the Sadrist movement, agreed on quotas, and that agreement resulted in the election of the President of the Republic and the assignment of the Coordinating Framework candidate to form the government."

He denied any agreement "between the political forces in charge of forming the government on the one hand and the Sadrist movement on the other hand," explaining that "Al-Sadr will not get positions in this government because he gave up his entitlement to head it because of others' insistence on quotas."

And Al-Arar said, "All the political blocs participating in the quota agreement did not talk about their desire to go to early elections. Rather, the talk is currently about completing a full electoral cycle."

He believed that "talking about a date for early elections, which was previously discussed after legal amendments were made, is now excluded."

Al-Arar expects, "The political scene is going to get complicated with the continuous monitoring of the public and the Sadrist movement, and the preparations of the people of the October uprising to renew their activity in demonstrations."

He stated, "The blocs supporting Al-Sudani will work to make the formation of the government successful, but the data on the ground indicate that the situation is not easy and achieving this success is very difficult."

Al-Arar went on to say that "the way to escape for these moves is to convince the Sadrist movement and the Iraqi public to reach a political agreement that is in line with the public interest."

He added, "Those who oppose the quota government will use their constitutional means to protest and change through popular demonstrations and media pressure."

Al-Arar concluded that “a conflict may occur between the forces of the State Administration Alliance over the ministries, and its results will appear soon, and the Sadrists, the Tishreen forces and the silent majority are waiting for such disputes to erupt over the spoils.”

For his part, Essam Al-Faili, a professor of political science, said that "the Sudanese are facing great challenges, most notably the belief of the traditional political blocs in quotas."

Al-Faili continued, "The quotas for many blocs are based on expediency and the nature of government formation."

He pointed out that "the mechanism by which the Sudanese will deal in selecting ministers is to present five candidates to the ministry, the three best among them will be discussed, and one will be chosen in the last stage."

Al-Faili expects that "the political blocs will present the names of those close to the leaders of these blocs, as they are the most loyal to them."

Political expectations indicate that the next government will not succeed in performing its duties as long as it is formed on the basis of quotas.   LINK

"Tidbits From TNT" Tuesday Morning 10-18-2022

TNT:

Tishwash:  Officially.. Next Saturday is set as a date for voting on the Sudanese government

The State Administration coalition has set, next Saturday, an official date for voting on the next government.

 The coalition said in a statement that it received "the information" that "the State Administration coalition held its regular meeting on Monday, which was devoted to discussing the formation of the government, in the office of Parliament Speaker Muhammad al-Halbousi."

He added that "the meeting discussed the latest political developments in the country and the need to expedite the formation of a government of service."

He explained that "the coalition confirmed its intention to invite the House of Representatives to hold a session next Saturday to vote on the government with all its members."   link

KaseyKo1:  Just received the following tweet from the office of Sheikh Qais Khazali ; Secretary-General of Asa'ib Ahl al-Haq ; Head of Parliamentary Bloc: "We promise the poor that they will have priority within the govt programs that we will implement in the next stage."

Annie68:  With Maliki running the show? He's the reason they didn't have anything before!

KaseyKo1:  With the UN stepping in, things will chg to a certain extent as to what Maliki will be able to get away with, in my opinion anyway. He will not be able to stop the RI/RV like he has in the past. There's no way the UN will allow that to happen. I'm waiting to see if Sadr does something on the 25th with the protests….I think we need to also keep in mind that there has been a lot of splintering within the Framework alliance & we don't really know with a full certainty who the dissenters are. There may be a reason why they want Malilki thinking he has great importance in the govt. We'll find out soon enough I suspect.

Yada:  Agreed Kaseyko, he is not running the show as much as other think. The structure Kazimi left behind causes Maliki to lose much of his influence.

Yada:  I was excited before and after the call. Kazimi left a government such whom ever take over, will not be able to alter it much. Its just the formalities of getting the government people in place. They want to be in charge of what is about to be released

KaseyKo1:  This seating of the full govt may be something the UN has required of Iraq before the release of the new rate. REMEMBER: Stability.

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CandyKisses:  Al-Sudani presents his booth to Parliament on Thursday.. And the Kurds decide their ministries

{Political: Al Furat News} Two members of the Patriotic Union of Kurdistan and the Kurdistan Democratic Party revealed that the Prime Minister-designate, Muhammad Shia Al-Sudani, will present his government cabinet to the House of Representatives.

A member of the Democratic Party, Haitham Al-Mayahi, told the program (Al-Mastra) broadcast by Al-Furat satellite channel this evening: "It is too early to talk about the quotas of the ministries, and next Thursday Al-Sudani will present his booth, and a number of sovereign ministries remain unresolved and the session is in order to pass the government."

He pointed out that "the Democrat is negotiating with the Ministries of Justice, Housing and Foreign Affairs, and another ministry may increase for the Kurdish component," noting that "there is an intention to form a parliamentary committee to monitor government performance."

He added, "There is sufficient freedom for the Sudanese to form his government, and he will present five candidates for each ministry and they will be agreed upon. Perhaps the Sudanese will be the one who will choose without a political nomination, and this is a decision by the State Administration Coalition."

He revealed "the desire of some ministers in Mustafa Al-Kazemi's government to remain in their positions, but we exclude that," noting that "there are very serious corruption files related to the October demonstrations and military and security files."

Al-Mayahi stressed, "The Sudanese have relations with all forces, and we expect that his government will last for four years if he implements his government program within a year.

For his part, the leader of the Patriotic Union of Kurdistan, Mahmoud Khoshnaw, said in today's episode (Alastra) that "the Kurds will get 4 ministries, which may be divided equally between the Patriotic Union and the Democratic Party, or the latter may get three of them."

He added that "six ministries will be for the Sunni component, 12 ministries for the Shiite component, 12 for the Shiites, and one ministry for Christians. These leaks remain close to the truth."

And he indicated that the ministries of "foreign, finance and justice, which are sovereign ministries, will decide two of them for the Kurds, and perhaps water resources, justice and health have been obtained by the Kurds as well," adding that it is likely "the creation of some positions to satisfy national components."

Khoshnaw stressed, "There should be no return to quotas in the Sudanese government, and all forces are obliged to support it, and there is no choice but for the two Kurdish parties to go to dialogue to solve the outstanding problems between them."

The Kurdish leader promised, "The Sudanese government is the last chance for the political system, and the failure does not affect the Sudanese personally, but rather the political system. The stage is very critical and sensitive."

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Tishwash:  International companies present their offers to invest in oil and gas fields in Anbar

The director of the Jubbah Municipality Department in Anbar Governorate, Qatar Al-Obaidi, announced on Monday that international companies have submitted their offers to obtain investment opportunities to invest in oil and gas fields in the western regions.

Al-Obaidi said in a statement to "Al-Maalouma", that "delegations from French and American investment companies and from other foreign nationalities specialized in this field expressed their willingness to obtain investment opportunities to work in the western regions for the purpose of investing in oil and gas fields after reviewing the work sites." 

He added, "International investment companies began to make contacts with the central government against the backdrop of the Oil Exploration Company's announcement of the discovery of dozens of oil and gas fields in the western regions comparable to what exists in the Gulf countries, which created a state of global competition with international investment companies to obtain an opportunity to invest oil fields. and gas in Anbar.

Al-Obaidi explained, "The local government in Anbar informed the companies applying for investment opportunities in the energy field to open channels of communication with the central government, because the investment in oil and gas fields has a sovereign dimension. The local government is not allowed to conclude any agreement with investment companies unless the advanced companies obtain The approval of the central government,” stressing that “the desire of Arab and foreign investment companies to obtain investment opportunities in Anbar comes against the background of the stability of the security situation in all cities of the province.”   link

Mot:  .. poor ole Sparky was at the doctors ....

Mot:  ... He has a Tear!!! - Can You Fix Um!!??? ~~~~

Iraqi News Highlights Monday Evening 10-17-22

Iraqi News Highlights Monday Evening 10-17-22

Tlm724 Administrator Bondlady’s Corner

Oil Signed A Contract With China's Cnooc To Study The Onshore Part Of The Offshore Area In The Gulf

10/17/2022  5   Earth News/ The Undersecretary of the Ministry of Oil for Extraction Affairs, Karim Hattab, confirmed today, Monday, the ministry's keenness to develop land and sea exploratory patches to increase the country's oil and gas reserves.

This came during his presence on behalf of Oil Minister Ihsan Abdul-Jabbar Ismail, the signing ceremony to prepare a study on the offshore exploration area between the Oil Exploration Company and the Middle East Cinoc and Iraq China.

In a statement received by Earth News, Hattab said, “Today we celebrate together the signing of a joint study contract for the land part of the offshore patch in the Gulf, between the Oil Exploration Company, one of the leading national companies in this field, and Cinoc Iraq and the Middle East, as this contract is an important step for developing The marine exploratory patch in the Gulf, which is the first joint exploratory study experience in the territorial waters.

The agent added that "the ministry is keen to develop and invest in joint border fields, land or sea and in regional waters, despite the various challenges,"

stressing that "the ministry has worked to attract international companies to cooperate, work and joint investment to develop the national oil industry."

And he added, "The ministry affirms its full confidence in the national effort and in the company SINOOC Iraq and the Middle East to complete this study and reach positive results, which contribute to strengthening the oil reserves of oil wealth."

The Director General of the Oil Exploration Company, Ali Jassim, said,

“The Oil Exploration Company, which represents one of the arms of the national effort, was able to achieve important steps in the field of exploration through the spread of seismic teams in many regions of Iraq and conducting surveys for vast areas of our dear country, including the Western Desert. In Anbar Governorate, Tal Afar in Nineveh Governorate, Muthanna, Maysan, Basra, and others.”

Pointing to "the ministry's continuous support for the work of seismic teams, which work with the latest devices, equipment, mechanisms and advanced technology in this field, believing in maximizing the guaranteed reserves of oil and gas."

The General Manager of Cinoc Middle East and Iraq, "Vincent Shih," said that

"the contract to conduct a joint study of the Arabian Gulf area, which was signed, represents a start to build cooperative relations of a new type between Iraq and Cinoc.

The Iraqi side in this project is keen on close cooperation to achieve positive results and deepen exploratory operations,”

noting that “this cooperative relationship will contribute to the development of the oil industry in Iraq, and create a new situation for cooperation in the field of oil and gas between China and Iraq in a way that achieves the common interests of both parties.”

Shih added, “Futureful results have been achieved thanks to the joint efforts made by both parties.

Today, we are proud to announce the signing of a bilateral seismic survey services contract for the onshore part of the patch with the Oil Exploration Company, and that

CNOC announces its readiness to deal with all difficult situations in cooperation. With the Ministry of Oil, Maysan Oil Company and all partners.

It is noteworthy that the joint research agreement for the Gulf region was signed in 2019 and included conducting exploratory operations for the land and sea parts, where the land part is 120 km² and the marine part is 530 km².

This contract comes as a prelude to the comprehensive development operations of the onshore and offshore part of the offshore patch, which the Ministry aims to maximize oil and gas reserves.

https://earthiq.news/archives/153968

After The Second Largest Theft In The Country's History, An Invitation To Establish A Court For The History Of Oil In Modern Iraq

Monday, 10-17-2022, Am 1:27 Karar Al Asadi 164   Written by: Emad Abdel Latif Salem

On the occasion of the discovery of the second largest theft in the modern history of Iraq, worth 3.7 trillion dinars (2.5 billion dollars) from the trust account of the General Authority for Taxation in the Rafidain Bank..

A call for the establishment of a court for the history of oil.. in modern Iraq

Some dreams are very simple and achievable, for example: establishing a court for the history of oil in modern Iraq.

A court in whose cages we put, and through which we prosecute, all political systems, and all “personal” and societal entities - “material” and “moral”, which have successively controlled oil rents, and the management of oil revenues, so that they are held accountable and accountable for every penny and cent for every cent. By spending it from it.. since the first drop of oil flowed over the soil of Iraq (in 1927) and until this moment.

Establishing a court for the history of oil in modern Iraq..not here..but in other countries that respect themselves, and respect such issues, topics, and preoccupations.

A court that completes its investigation papers. It is not politicians who are thieves, nor cult kings, nor war merchants, nor intrusive “contractors” at the tables of these mean people..

Rather, professional researchers and those interested in this matter..believe that this case is part of their personal concern and their knowledge function. Their academic effort, and their noble fatigue, are free from any ambiguous goal, utilitarian goal, or serving interests.

The "criminals" against Iraq are not only those who committed war crimes, genocides, or crimes against humanity... but those who used oil rents to produce (and reproduce) tyrants, thieves and murderers. Those who have indulged our money and our blood, violated our dignity, waste our land and our resources, and squandered a hundred years of development, prosperity and civilisation.

These are the ones who should be put in "cages" and retroactively charged.

It concerns the long-term ruin that does not fall with the passage of time, nor is it forgotten complicity with those who squandered the chances of a dream of a better life, in this country full of bounties, capabilities and talents.

All the roots of our present ruin have been watered and nurtured by reckless government spending that lacks efficiency, discipline, and sound economic calculation.

The "archive" of public spending (for every penny, cent, fils, dinar, pound and dollar) of Iraq's "lavish" budgets... has not been destroyed or gone away yet.

As for what gives “immunity” from accountability and prevents going to the courts, it is the realization of those who committed wasteful crimes that no one has the courage now to turn over books, restrictions, accounts, and pains, in this oppressed, overwhelmed country.

Thus, these "novice" thieves left everything as they were, because they did not know that the "financial data" had an unbreakable memory and an unbreakable cipher.

By deluding us that they are "strong"... Legions of villains took turns to "plunder" us in the successive, rapid, and short-lived stages of our decline. Thus, the names, systems, and creeds differed, while the determination of our fate remained subject to the most dark, oppressive, and backward forces in this world.

And when the pleading ends, the pens are lifted, the Qur’an dries up, and the years of embers have cooled, perhaps we will have set our feet on the right path towards achieving some measure of justice for the victims... and some just retribution for those who became (inadvertently) our guardians for a century of death. Darkness and absurdity.

When the pleading is over, we will read their names one by one.

Some of them..we will restore their esteem..and commend what they have done and accomplished..and correct the inequities of history and the injustices of false facts.

And some of them..we will disgrace them..by all possible means.  https://www.non14.net/public/151679

1.7 Billion Went To The Pockets Of The Corrupt .. Al-Moussawi Reveals A New Corruption File In Diyala (video)     https://youtu.be/xtTO1QP2gi0      Policy- 10-16-2022 10:52 PM - Number of readings: 8098

https://www.dijlah.tv/index.php?page=article&id=318748

The Deadly Greed Of Iraq’s Elite

Report    Iraq   2022-10-01 00:29   Shafaq News/ On December 9, 2017, the prime minister of Iraq, Haider al-Abadi, said:

‘We have accomplished a very difficult mission. Our heroes have reached the final strongholds of Daesh [Islamic State] and purified it.’

Many argued that this moment, following the defeat of the last remnants of Islamic State in Iraq, would usher in a rebuilding and ‘post-conflict’ stage for the country.

Though the threat of Islamic State has receded, five years on Iraq is still mired in conflict, with no end in sight.

The deadly fallout from October 2021

The spasm of direct political violence at the end of August 2022 caught the attention of the world.

But its roots lie in less apparent unresolved conflict dynamics in Iraq that are just as deadly to its citizens, and that current stabilization efforts will not improve.

In the most recent escalation, protesters and militia members linked to the populist Shia cleric Muqtada al-Sadr invaded Baghdad’s Green Zone – a fortified area which houses Iraq’s government buildings and international representations.

The clashes with security officials led to more than 30 deaths.

Their armed opponents, linked to the Popular Mobilization Forces (PMF), sent followers to stage a counter protest, leading some to warn that the country was again on the brink of civil war.

That episode was the latest in the fallout from the election of October 2021.

Though the Sadrists emerged victorious in that ballot, they bucked the custom of forming a consensus government with the main Shia, Kurdish and Sunni parties.

Instead, Sadr pushed to establish a ‘majority government’ that included the dominant Kurdish and Sunni parties but excluded his powerful Shia opponents, Nouri al-Maliki, the former prime minister, and parts of the Popular Mobilization Forces.

When the attempt by the Sadrists to form a government failed, they decided to pull out of parliament.

Their Shia opponents saw an opportunity and with the Kurdish and Sunni parties moved to create a government without Sadr.

Sensing his mistake, Sadr sent followers to invade Iraq’s parliament to prevent any political process without him, leading to clashes with government forces and his Shia rivals and dozens of casualties in Baghdad.

Since 2003, a number of Iraqi and foreign leaders have declared military victories in the country.

The first was pronounced by George W Bush, the US President, only six weeks after the invasion, on board the USS Abraham Lincoln in front of a banner reading ‘Mission accomplished’.

Each subsequent US president has announced a victory and ushered in a ‘post-conflict’ phase.

Yet, almost two decades on, Iraq has never been free of conflict.

Structural violence linked to corruption in key sectors harms Iraqis every day.

From 2006 to 2014, for instance, the country lost an estimated $551 billion to corruption.

The ruling elite relies on politically sanctioned corruption through an ethno-sectarian power-sharing system – muhasasa – to benefit from Iraq’s wealth, with an annual budget that can reach $100 billion.

This revenue is meant to provide basic public services.

But corruption means that Iraqis don’t have enough electricity, many don’t have clean water and most medicine is past its sell-by date.

The result contributes to Iraq having one of the lowest life expectancies in the world.

As a result, most Iraqis remain disillusioned with the country’s elite and its political system.

With one of the region’s largest youth bulges – two-thirds of Iraq’s 42 million population are under 25 – the system is less able to accommodate the million or so who are born each year.

Hundreds of thousands of graduates struggle to find jobs. Many flee to Europe as migrants.

The elite’s patronage networks, largely established since 2003 and built from the country’s wealth, exclude this growing part of the population.

Consequently, more Iraqis have given up on the system.

Voter turnout has been plummeting with each subsequent election, hitting a mere 30 per cent in 2021.

Two years earlier, in October 2019, young Iraqis across central and southern Iraq took to the streets to protest.

This movement, known as Thawrat Tishreen – Arabic for October Revolution – did not call for the removal of a specific leader or party but instead for revolution against the system.

They chanted: ‘We will never back off. No way. Let all parties hear us.’

Since elections only reinforced the toxic political order, its followers refused to vote and instead insisted that protest was the only way to be heard. Iraq’s ruling elite struggled to respond to Thawrat Tishreen.

They could no longer convince the electorate that they represented their ethnic, sectarian or other communities, or that they promoted democracy and reform. Nor could they provide economic benefits, namely public sector jobs.

Ideologically and economically bankrupt, Iraq’s elite and the political machinery turned to direct violence to suppress the movement, killing hundreds of protesters and wounding thousands more.

Since then, the system has continued to employ violence to minimize free speech and protest.

Someone familiar with this is Ahmed al-Bashir, the prominent Iraqi political satirist.

To continue producing his Albasheer Show on television and YouTube, which reaches millions of Iraqis, Bashir lives and works outside Iraq because of threats to his life. ‘In Iraq there is no longer free speech,’ he said at Chatham House’s annual Iraq Initiative conference last year.

Demographic realities and shrinking public authority have exacerbated intra-elite fragmentation.

One speaker close to the Sadrist movement has stated that Sadr wants none of the former leaders to be able to participate in elections or government formation.

Sadr’s attempt to form a majority government after his 2021 electoral victory was his solution to the crisis and a bid to regain some ideological power with his base and the wider, disenfranchised population.

Following its failure and this summer’s violence, the Sadrists seem unwilling to play by the rules of the game and form another consensus government.

In response, Jeanine Hennis-Plasschaert, the UN Secretary-General’s Special Representative to Iraq, has struggled to bring together the elite, including Sadr and Nouri al-Maliki, to reach a consensus government to combat the direct violence.

Following the clashes in August, the United Nations Assistance Mission for Iraq issued a statement that ‘Iraqis cannot be held hostage to an unpredictable and untenable situation.’

However, Iraqis have not only been held hostage to the recent violent clashes, they have been hostages of the political order put in place after 2003, when the US-led coalition worked with returning exiled Iraqi political parties to establish muhasasa.

Since then, this ruling elite has acquired its wealth and power through corruption.

Iraq’s political system has proved resistant to both grassroots revolutionary protest and attempts at manipulation by its elite.

In their current efforts at stabilization, both Iraqi and international actors are again focusing on a short-term settlement within the elite.

Their solution is to limit the direct violence that erupted this summer in the hope that this will lead to change.

But such a settlement will not address the everyday conflict consuming Iraqis.

Instead, it will reinforce the status quo and once again ignore the dynamics of structural violence, which will continue to take the larger toll of lives.

https://shafaq.com/en/Report/The-deadly-greed-of-Iraq-s-elite

To read more current and reliable Iraqi news please visit BondLady’s Corner:

Bond Ladys Corner

More News, Rumors and Opinions Monday Night 10-17-2022

KTFA:

Samson:  A banking expert reveals a surprise in the stolen tax trillions... and important details

10/16/2022 20:43:31

 The banking expert, Abdul Rahman Al-Sheikhly, revealed, on Sunday evening, a surprise in the trillions of stolen tax, amounting to "3 trillion and 700 billion dinars."

  Al-Sheikhly told Al-Furat News that: “The process of stealing money began since 2015 by collecting from merchants and those covered by the tax a rate of between (5-10%) of the money that is dealt with, as it is deposited as trusts in the Rafidain Bank at the expense of the General Authority for Taxes and continued. It escalates until it is revealed now." 

He added, "This amount is assumed, after a year of this year has passed, the tax account will be made with the individual. The value of the amount due to be paid is calculated, and therefore it will be returned to him; for this reason, large sums have accumulated since 2015 until now, so this money has become almost loose because it did not enter the final accounts and public files, but rather put in a special file {Al-Amanat}".

Al-Sheikhly emphasized, "More than 270 instruments were issued by the General Tax Authority of the Rafidain Bank, and the money withdrew in this way." Al-Sheikhly cleared the responsibility of the Ministry of Finance and the Rafidain Bank from the accusation, saying, "The Ministry of Finance is the one who exposed the theft, but there is complicity from several sides in the implementation of the theft of money by issuing official documents, and the Rafidain Bank is not concerned with the theft and has no responsibility."

Al-Furat News obtained a letter issued by the Ministry of Finance addressed to the Integrity Commission regarding allegations of theft of tax deposits deposited in Al-Rafidain Bank amounting to (3.7) trillion Iraqi dinars. And the caretaker prime minister, Mustafa Al-Kazemi, ordered the opening of an investigation into the loss of the huge amount. While the Prime Minister-designate, Muhammad Shiaa al-Sudani, commented on the incident and said, "We will never hesitate to take real measures to curb corruption that has so brazenly spread in the joints of the state and its institutions, and we will not allow the Iraqis' money to be plundered, as happened with the funds of the General Authority for Taxation in the Rafidain Bank."

Sunday, Al-Rafidain Governmental Bank distanced itself from the theft of the amount and confirmed, "It has nothing to do with any manipulation or theft that is being talked about, and that its mission was limited to disbursing the instruments of the General Tax Authority from its branches after verifying the validity of their issuance in official books between the bank." and body.”

Al-Rafidain Bank stressed, "Not to steal any sums of money from its branches, and indicates that it is committed to the mechanisms related to the anti-money laundering and terrorist financing law, and that the whole issue is being examined by the judiciary, and that the bank continues to cooperate with the competent authorities to reveal the facts."  LINK

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Samson: Including officials.. Integrity arrests suspects red-handed for bribery in 5 governorates

17th October, 2022

The Iraqi Integrity Commission announced on Monday that a number of officials and employees had been caught red-handed in five Iraqi governorates.

In a statement received by Shafaq News Agency, the authority said that the field team of the Muthanna Investigation Office moved to the Treasury Directorate in the governorate, and was able to arrest the director of the financial department in flagrante delicto; While receiving the bribe from the service employee in the department.

She added that the staff of the Diyala Investigation Office arrested the file officer in the Baqubah Execution Directorate, while taking bribes from the auditors. in exchange for performing her functional duties,” pointing out that “the accused blackmailed the auditors and obstructed the progress of their transactions; to force them to pay bribes.

In Babil Governorate, the office team followed up and seized the Hilla municipality property registry investigator who requested a sum of money from a citizen in exchange for agreeing to rent a store owned by the Hilla Municipality Directorate, where the accused was caught red-handed while receiving the bribe.

The commission indicated that the staff of the Karbala Investigation Office, which moved to the real estate bank in the governorate, arrested an employee in the bank in flagrante delicto upon receiving the amount of four million and 500 thousand dinars from one of the auditors applying for a loan from the bank, pointing to the agreement of the accused with the auditor to receive Another amount after the approval of the loan transaction.

She explained that the staff of the Commission's investigation office in Diwaniyah arrested an employee of the Medical Committees Division in the governorate red-handed receiving a sum of money from a citizen. In return for completing the transaction of his sister, indicating that the accused admitted to receiving the bribery amount that was seized in his possession; Transaction completion meeting.

The commission confirmed that fundamentalist seizure records were organized and presented, along with the accused, to the judges of the investigation courts specialized in integrity issues in the governorates of Muthanna, Diyala, Babil, Karbala and Diwaniyah, who decided in turn to arrest the accused in accordance with the provisions of Article 307 of the Penal Code and Resolution 160 of 1983.

LINK

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Samson:  Fake factories drain public money in Iraq: another face of corruption

17th October, 2022

The Iraqi Border Ports Authority revealed the seizure of a number of fake factories, saying that their owners had obtained customs and tax exemptions in amounts amounting to billions of dinars, in one of the new corruption files being raised in the country, confirming that an investigation had been opened into the file

Corruption is one of the most dangerous files in the country, as it is often intractable to the authority of the state and the law, especially as it is linked to parties that dominate the political scene in the country, and have armed arms that threaten even state institutions

And the Iraqi Border Ports Authority said in a statement, yesterday evening, Sunday, that it "was able to seize fake factories and factories whose owners had previously obtained customs and tax exemptions in violation of the controls," noting that "the process of controlling factories took place after obtaining a judicial decision that includes approval to move to The location of a group of alleged factories to reveal the truth of their existence

 She added that "it turned out that these factories are fake, and they are small shops that do not rise to being a factory or a factory that requires granting exemptions from fees," stressing that "this is a fraud on the state institutions specialized in granting exemptions, which bear full responsibility as a result of their lack of auditing." Factories and factories before granting exemption books, as well as their lack of seriousness in following up on the arrival of those exempted materials to the beneficiaries

She pointed out that "the owners of these factories and factories located in Basra Governorate have used the materials that were exempted from customs and tax duties for other than the purpose for which the exemptions were granted and in very large quantities, amounting to billions of dinars, which caused a waste of public money

Confirming that "a fundamentalist seizure report was organized and the method was presented before the investigation judge, who in turn issued a decision to refer the file to the Basra Integrity Investigation Directorate for investigation according to jurisdiction, and under the supervision of the integrity judge in the province to hold accountable all those associated with these suspicious acts targeting the Iraqi economy in the core. The owners of factories and factories obtain some customs and tax exemptions, in a step adopted in the country to encourage investment in the private sector and local production

This is taking place at a time when the Iraqi authorities announced, today, Sunday, the start of an investigation into the case of theft of 3 trillion and 700 billion Iraqi dinars; The equivalent of $2.5 billion from the state treasury, hours after Oil Minister Ihsan Abdul-Jabbar, who had submitted a request to be relieved earlier from the position of acting finance minister, admitted that the money was stolen from the state-run Rafidain Bank, which is tax revenue money

The rampant corruption in the country has dragged it into serious economic and financial crises from which it is not easy to get out, which included all aspects of life such as electricity, water, the health system, job opportunities, and others   LINK

Factory Activity CRATERS As Economic FREEFALL Worsens. IMPORTANT UPDATES...

Greg Mannarino:  10-17-2022

https://www.youtube.com/watch?v=nPxLftUDCj0

Global Banking Elites Hold Secret Emergency Meeting As Outlook Rapidly Deteriorates

Michael Cowan:  10-17-2022

Global Banking Elites Hold Secret Emergency Meeting As Outlook Rapidly Deteriorates

https://www.youtube.com/watch?v=T9K46NpheWs

Iraqi News Highlights Monday Afternoon 10-17-22

Iraqi News Highlights Monday Afternoon 10-17-22

Tlm724 Administrator Bondlady’s Corner

Al-Sudani: The next government will be a government of services that includes economic reforms

Money and business   Prime Minister-designate Muhammad Shia Al-Sudani received, on Monday, German Ambassador to Iraq Martin Jaeger.

During the meeting, according to the statement, "a number of issues and topics related to bilateral relations between the two countries and ways of consolidating them were discussed," and the meeting touched on "the prospects for joint cooperation, and the importance of its development in various fields."

Al-Sudani stressed, "The next government's orientation is towards building balanced relations with its regional and international surroundings, as well as its aspiration to develop cooperation relations with Germany and the whole of the European Union, in a way that enhances common aspirations and aspirations."

He added, "All his efforts are currently focused on forming the government as quickly as possible, and on the basis of accurate selection," stressing that "the next government will be a government of services, including economic reforms, and an investment of oil revenues away from corruption."

He expressed "the future government's aspiration to fruitful cooperation with German companies in the fields of energy and other technical disciplines."

For his part, the German ambassador stressed, "the desire of his country's government to strengthen bilateral relations, in a way that contributes to boosting cooperation and joint coordination at various levels."

He continued, "Iraq urgently needs a government with full powers that realizes the magnitude of the challenges it is facing in the current stage," explaining that "the German government has great interest in making this government succeed and overcome various challenges."

The German ambassador presented a paper containing specific proposals for cooperation between Iraq and Germany in various fields.

Views 196   Added 10/17/2022 - 4:12 PM   Update 10/17-2022 - 7:13 PM

https://economy-news.net/content.php?id=30253

Iraq Ranks First In The Arab World... The 10 Fastest Growing Economies In The World

Sunday, October 16, 2022 6:03 PM   Follow-up / National News Center   Arab countries dominated about half of the list of the world's fastest growing economies during 2022, despite the difficulties that many countries faced during the current year, and the unfavorable economic conditions, but oil prices were supportive of three Arab countries to be on the list.

The world's fastest growing economy was Guyana, whose GDP accelerated by 57.6% during 2022.

The sparsely populated country is growing thanks to new oil exploitation projects. Ireland's growth has also been revised upwards significantly, but the small country's GDP is known to be volatile due to the many multinational companies based there that benefit from favorable tax laws within the European Union.

Iraq was the fastest growing Arab country, as the gross domestic product accelerated by 9.3%, and ranked second in the world during 2022, followed by Kuwait and Saudi Arabia in the fourth and fifth positions globally, with a growth rate of 8.7% and 7.6%, for the current year.

And in the tenth place, Egypt ranked with a growth rate of 6.6% in the gross domestic product, to control the Arab countries in 4 positions of the 10 fastest growing economies in the world, according to the data of the International Monetary Fund.

India has corrected course, as India's GDP grew by 4.1% in the first three months of 2022, slightly reducing annual growth in 2021-22 to 8.7% due to Omicron restrictions that hampered economic activity in the last quarter of the fiscal year Indian. In the first quarter of the new fiscal year (April to June), growth returned to 13.5%.

Looking at the big picture, India's GDP growth is still doing well globally, and the country is expected to overtake Japan as the second largest economy in Asia by 2030.   https://nnciraq.com/157855/

A Parliamentary Move To Approach The Central Bank Regarding The Customs Deposits Funds

Monday 17 October 2022 17:29 | politicalNumber of readings: 145

Baghdad / NINA / - The Alliance of State Forces revealed an official request to approach the Central Bank of Iraq to investigate the size of the customs deposits.

The head of the coalition bloc, MP Faleh Al-Sari, said in a press conference today, Monday, that "there is an intention to burn the priorities related to the amounts of customs deposits," noting that "the tax and customs deposits are included in different accounts."

Al-Sari stressed the need to open the investigation again and expand the audits to include the customs secretariats whose amounts are not less than the tax secretariats, pointing to the approach of the Central Bank of Iraq to give figures and tables of the amount of the amounts collected in the accounts of the customs secretariats, calling on the supervisory authorities, the public prosecution and the judiciary to investigate the money. Stolen./  https://ninanews.com/Website/News/Details?key=1008201

The Iraqi Financial Market Trades Shares Worth 6 Billion Dinars In A Week

Market   Economy News-Baghdad   Today, Monday, the Iraqi Stock Exchange announced that it traded shares with a financial value of more than 6 billion dinars during the past week.

The market said in a report, "The number of companies whose shares were traded during the past week amounted to 57 joint-stock companies, while the shares of 44 companies were not traded due to the lack of convergence of purchase orders prices with sales orders, while two companies continue to stop for not providing disclosure out of 103 companies listed in the market." .

He added that "the number of traded shares amounted to 4 billion and 796 million and 689 thousand shares, a decrease of 49% compared to the previous week, with a financial value of 6 billion and 327 million and 231 thousand dinars, an increase of 46% compared to the previous week through the implementation of 3952 deals." Pointing out that "ISX60 traded price index closed at 596.09 points, recording a 1.22% decrease compared to its closing in the previous session."

He pointed out that "the number of shares purchased from non-Iraqi investors for the past week amounted to 361 million shares, with a financial value of 430 million dinars, through the implementation of 130 deals, while the number of shares sold from non-Iraqi investors amounted to 325 million shares, with a financial value of one billion and 522 million dinars, through Execution of 612 transactions.

It is noteworthy that the Iraqi Stock Exchange organizes five trading sessions a week from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism, hotels and services.

99 . views  Added 10/17/2022 - 12:16 PM   Update 10/17-2022 - 7:12 PM

https://economy-news.net/content.php?id=30245

A Parliamentary Demand To Prevent Al-Kazemi And His Finance Director From Traveling Based On The State Order

Political | 04:43 - 10/17/2022   Baghdad - Mawazine News  On Monday, the Parliamentary Integrity Committee demanded a travel ban on the caretaker prime minister, Mustafa Al-Kazemi, and his finance director. A document issued by the committee and received by Mawazine News stated the following:

https://www.mawazin.net/Details.aspx?jimare=208507

In 3 Files..America Agrees With A European Country To Cooperate With Iraq

Political | 04:36 - 10/17/2022   Baghdad - Mawazine News   On Monday, the US ambassador to Baghdad, Elena Romanowski, and the Norwegian ambassador, Aspen Lindbeck, agreed to cooperate with Iraq in three files.

"The Norwegian Ambassador to Iraq, Aspen Lindbeck, and I discussed our many common priorities in Iraq at this pivotal time for the Iraqi people," Romanowski said, in a tweet on Twitter, which was followed by Mawazine News.

She added, "We agreed to further cooperation in strengthening governance and democracy, and promoting gender equality, and the Climate Change Conference in Cairo in November 2022." Ended 29/R77   https://www.mawazin.net/Details.aspx?jimare=208505

Oil Prices In World Markets

Economie| 09:17 - 10/17/2022   Follow-up - Mawazine News:  Oil prices recorded gains in early trading in Asian markets, on Monday, at a time when the dollar fell strongly, as investors awaited data from China to measure demand in the largest importer of crude oil in the world.

Brent crude futures rose about 85 cents, or 0.9 percent, to $ 92.48 a barrel by 0019 GMT, recovering from a 6.4 percent drop last week.

US West Texas Intermediate crude recorded $86.34 a barrel, up 73 cents, or 0.9 percent, after falling 7.6 percent last week. Ended 29/N33    https://www.mawazin.net/Details.aspx?jimare=208462

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

MilitiaMan and KTFA Members Monday Afternoon 10-17-2022

KTFA:

KandiG:  Wow - there sure seems to be a lot of "international" articles coming out since the announcement of a pres / PM.  China, Germany, EU, Australia, America and then throw a few acronyms out - IMF, WB, UST and you have a smorgasbord, potpourri or plethora of interest in our Iraqi girl. IMO

Samson:  Oil contracts with a Chinese company to develop the offshore patch in the Gulf

10/17/2022 16:06:56

The Undersecretary for Extraction Affairs affirmed the ministry’s keenness to develop onshore and offshore exploration blocks to increase the country’s oil and gas reserves. This came during his presence on behalf of the Oil Minister, Mr. Ihsan Abdul-Jabbar Ismail, the signing ceremony to prepare a study on the offshore exploratory patch between the Oil Exploration Company and CNOOC Middle East and Iraq China.

Today, we celebrate the signing of a joint study contract for the land part of the offshore patch in the Gulf, between the Oil Exploration Company, one of the leading national companies in this field, and Cinoc Iraq and the Middle East, as this contract is an important step for the development of the patch, said Undersecretary for Extraction Affairs Karim Hattab. The marine exploratory study in the Gulf, which is the first joint exploratory study experience in the territorial waters.

The undersecretary added that the ministry is keen to develop and invest in common border fields, land or sea and in regional waters, despite the various challenges, stressing that the ministry has worked to attract international companies for cooperation, work and joint investment to develop the national oil industry.  He continued, that the ministry affirms its full confidence in the national effort and in the company Cinoc Iraq and the Middle East to complete this study and reach positive results, which contribute to strengthening the oil reserves of oil wealth.

The Director General of the Oil Exploration Company, Ali Jassim, said that the Oil Exploration Company, which represents one of the arms of the national effort, was able to achieve important steps in the field of exploration through the spread of seismic teams in many areas of Iraq and conducting surveys for vast areas of our dear country, including the Western Desert in the governorate. Anbar and Tal Afar in Nineveh Governorate, Muthanna, Maysan, Basra and others. Referring to the ministry's continuous support for the work of seismic teams, which work with the latest devices, equipment, mechanisms and advanced technology in this field, believing in maximizing the guaranteed reserves of oil and gas.

The general manager of Cinoc Middle East and Iraq, "Vincent Shih," said that the contract for conducting a joint study of the Arabian Gulf region, which was signed, represents a start to build a new type of cooperative relations between Iraq and Cinoc. In this project, the Iraqi side is keen on close cooperation to achieve positive results and deepen exploratory operations, noting that this cooperative relationship will contribute to the development of the oil industry in Iraq, and create a new situation for cooperation in the field of oil and gas between China and Iraq in a way that achieves the common interests of both parties. "Futureful results have been achieved thanks to the joint efforts made by both parties, and we are proud today to announce the signing of a bilateral seismic survey services contract for the land part of the patch with the Oil Exploration Company, and SINOOC announces its readiness to deal with all difficult situations in cooperation with the The Ministry of Oil, Maysan Oil Company and all partners.

It is noteworthy that the joint research agreement for the Gulf region was signed in 2019 and included conducting exploratory operations for the land and sea parts, where the land part is 120 km² and the marine part is 530 km². This contract comes as a prelude to the comprehensive development operations of the onshore and offshore part of the offshore patch, which the Ministry aims to maximize oil and gas reserves.  LINK

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Samson:  Al-Sudani: Our government's program has made poverty alleviation a priority

10/17/2022 13:42:11

 Prime Minister-designate Muhammad Shia Al-Sudani announced today, Monday, that his government program has put poverty alleviation as a priority.

  Al-Sudani said, on his Twitter page: "On the International Day for the Eradication of Poverty, it is necessary to draw attention to the high rate of poverty in Iraq. We would like to emphasize that our government's program has made poverty alleviation a priority, in addition to improving health, education and housing services for these groups." poor.”

The head of the National State Forces Alliance, Mr. Al-Hakim, called on the government and parliament to launch scientific programs that advance the service reality in the poorest areas of Iraq. LINK

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MilitiaMan:  Poverty is a part of the US Chamber of Commerce's Mission Statement. Well getting the HCL / Via Purchase Power will help alleviate that quickly.. imo We have been seeing a lot about these meetings in Washington DC this last week and today is adding to the list of support that Iraq is going international. Lets keep an eye out for the WTO and see if they are still pushing for Iraq to be international and, "As soon as possible".. imo  ~ MM

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"Globally, American companies will continue to compete and lead the world through our work ethic, entrepreneurial spirit, respect for the rule of law, modern workforce, access to capital, and commitment to free markets—all of which are built into the culture of American Democracy. Strong U.S. engagement in markets around the world through trade will be essential to our own long-term growth and global stability. And the leadership and partnership of the American business community will be needed to seize major opportunities for global progress, from distributing vaccines worldwide and addressing climate change to solving food scarcity and lifting people out of poverty."

https://www.uschamber.com/small-business/enduring-mission-and-vision-the-future

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The World Bank and the American Chamber of Commerce are discussing the electronic payment file in Iraq

17th October, 2022

Today, Monday, a delegation from the World Bank discussed with the American Chamber of Commerce the electronic payment file, while indicating efforts to develop it.

A source I followed (Al-Oula News) said, "The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, participated in the annual meetings held by the International Monetary Fund and the World Bank in the American capital, Washington."

He added, "A delegation from the World Bank discussed with some officials of the International Monetary Fund, ways to cooperate with Iraq, and to provide the necessary support for the development of various economic sectors, especially the banking sector."

He continued, "The delegation discussed with the American Chamber of Commerce and a number of American companies the electronic payment file in Iraq, and the efforts of the Central Bank to develop it, which contributes to increasing the rate of financial inclusion."  LINK

Samson:  Civil Aviation: Iraq will soon be free from international sanctions

17th October, 2022

Today, Monday, the Civil Aviation Authority announced that Iraq will soon be free of international sanctions

A spokesman for the Civil Aviation Authority, Jihad Al-Diwan, told the official news agency, "Iraq is among the five countries that have not passed the ICAO Global Safety Oversight Audit Program, known as (USOAP)," noting that "the Civil Aviation Authority is working to pass the test that is on the several stages

He pointed out that "during 2019, Iraq reached the rate of passing about 75% of the testing and auditing," stressing that "Iraq will pass the remaining percentage in the near future to get out of international sanctions

And the Ministry of Transport announced, earlier, that Iraq had taken action to complete the requirements for lifting the European ban on airlines   LINK

Humble1:  A definite move in the right direction IMO