DINARRECAPS8 12/18/22 DINARRECAPS8 12/18/22

Iraqi News Highlights Saturday Evening 12-17-22

Tlm724 Administrator Bondlady’s Corner

Arshad Al-Salihi Stresses The Necessity Of Making Amendments To The Constitution And Describes It As Full Of Mines

Saturday 17, December 2022 14:14 | political Number of readings: 250 Baghdad / NINA /- The head of the Parliamentary Human Rights Committee, Arshad Al-Salhi, stressed the necessity of making amendments to the constitution in its current form, describing it as full of mines, negative loopholes, and multiple crises.

Tlm724 Administrator Bondlady’s Corner

Arshad Al-Salihi Stresses The Necessity Of Making Amendments To The Constitution And Describes It As Full Of Mines

Al-Salhi said in his intervention today during the conference organized by the Baghdad Riwaq Center for Public Policies: The constitution was written by a political class that did not participate in political action before 2003 and was not mature to the extent required. Therefore, the constitution in its current form is full of mines and bumps and has entered the country into a whirlpool of Multiple disputes, problems and crises.

Al-Salhi added: The constitutional amendments committee that was formed in the previous parliamentary sessions were not clear and did not agree on the form of the system, whether it would be presidential or parliamentary, and therefore consensus has become a major challenge in front of the steps to amend the constitution and put Iraq on the right path.

Arshad Al-Salihi indicated during the conference, which was attended by Dr. Salman Al-Jumaili, a member of the Constitution Writing Committee, and Wala Talabani, Advisor to the Council of Ministers for Women's Affairs, that the Iraqi Basic Law in 1925 was written under the occupation and subsequent constitutions were written after military coups./ End

https://ninanews.com/Website/News/Details?key=1020804

The Director Of UNESCO Intends To Visit Iraq And Attend The Ceremony Of Ringing The Bells Of The Churches Of Mosul

Saturday 17 December 2022 15:26 | political Number of readings: 180 Baghdad / NINA / The Ambassador of Iraq in Paris / Wadih Batti / presented his credentials to the Director-General of the United Nations Educational, Scientific and Cultural Organization .. UNESCO ../ Audrey Azouli / representative of the Republic of Iraq to the organization.

The Ministry of Foreign Affairs stated in a statement today that during the credentials presentation ceremony, a bilateral meeting was held in which Ambassador Wadih Betty conveyed the thanks of Prime Minister Muhammad Shia’ al-Sudani to Azouli for the congratulatory message she had sent to him on the occasion of the formation of the Iraqi government. The ambassador also conveyed the greetings of the Deputy Prime Minister and Minister of Foreign Affairs. Fouad Hussein and his wishes for success.

The statement added, "During the meeting, all files within the jurisdiction of UNESCO were discussed, including the success achieved within the initiative to revive the spirit of Mosul, where Azouli indicated that she is happy with this progress and her intention to visit Iraq during the next month of March in order to attend the ceremony of ringing the bells of Mosul churches and to see the progress of the work." In Al-Nouri Mosque and the minaret, as well as following up on other UNESCO projects in Iraq.

The ambassador asked for "Iraq's support in its efforts to be a member of the Executive Council of the organization during the next (42) session, so that Iraq can return to exercising its active role in the organization, as Iraq has never occupied this position for twenty-six years, and he also touched on Iraq's share of employees in the organization."

And the possibility of supporting it according to the geographical distribution of the member states, since Iraq aspires to see a number of its people making their efforts in developing UNESCO through work in its departments.

For her part, the Director-General of the organization affirmed her readiness to cooperate with the Iraqi government because Iraq for her personally occupies a special place in addition to being a priority for UNESCO, indicating that there are plans she would like to implement in the future through cooperation with the Director of the UNESCO Office in Iraq and the concerned national authorities. H finished

https://ninanews.com/Website/News/Details?key=1020822

An Economist Told NINA: The Chinese-Arab Conference Did Not Come In Favor Of Iraq

Saturday 17, December 2022 10:08 | Economical Number of readings: 329 Baghdad / NINA / - The economic expert, Raad Twij, confirmed: "The Chinese-Arab conference did not come in favor of Iraq."

Twigg said in a statement to the National Iraqi News Agency ( NINA ) that "the outputs of (the Arab-Chinese summit) and (the Gulf-Chinese summit) are not devoid of a desire to send the two parties, especially the Saudi and Chinese, political messages needed by the two parties to the United States of America, which can It seems like a bubble, because the United States has penetrated militarily and politically into these countries, but this does not prevent the limited economic cooperation between the Gulf countries and China.

As for its impact on Iraq, Twigg stressed: "Iraq has its own status and has previous agreements with China, which is the natural passage for them, but it does not have a significant impact economically. Iraq can conclude other agreements with other countries to develop its economic reality, such as Japan, South Korea and Germany." https://ninanews.com/Website/News/Details?Key=1020753

Al-Sudani: We Seek Economic Reforms That Focus On Improving The Work Environment And Overcoming Obstacles To Expertise And Competencies

Today, Saturday, the Prime Minister, Muhammad Shia'a Al-Sudani, confirmed that the government is working to provide everything that achieves the optimal investment of natural and human resources through economic reforms.

A statement by the media office of the Prime Minister said, "Al-Sudani opened the work of the twenty-ninth session of the Arab Engineering Conference, which is being hosted by the capital, Baghdad."

He added, "Al-Sudani welcomed the convening of the Supreme Council of the Federation of Arab Engineers in its seventy-eighth session in Baghdad, and the government's blessing for the work of the conference held under the title (Information Society and Advanced Technologies in the Arab World), which was called for by the Iraqi Engineers Union and the Federation of Arab Engineers."

Al-Sudani said during a speech during the opening: "Today we evoke history and civilization in your conference. The term engineering and the engineering mentality in the comprehensive sense means the backbone of most of the civilizations that have risen," noting that "engineering sciences have contributed to the development of societies in a remarkable and amazing way, and provided life in a better, easier and more organized manner." and participated in the improvement of services.

He pointed out that "the Iraqi Engineers Association, which was founded in 1959, and which hosts this conference, is one of the oldest professional unions in the Arab world, as it contributed greatly to professional leadership of engineering work, and won the confidence of the community, which made it the safe house to protect the profession and take care of the interests of the beneficiaries." , and a center for expertise and professional advice, and led the engineering community to be a regional and global competitor.

He continued: "At a time when I praise the role of Iraqi engineers through all the circumstances that our dear country went through, I salute their patience and adherence to their high professionalism and their keenness to provide the best in their various fields, and I also praise the creative works of quite a few Iraqi figures that the world witnessed in the field of engineering."

And I invite them to have a distinguished role in the next stage and in the vital sectors that we referred to in our ministerial approach, which won the confidence of the honorable House of Representatives.

He stressed that "the government is working to provide everything that achieves the optimal investment of natural and human resources through economic reforms that focus on improving the work environment and overcoming obstacles to expertise and competencies, and diversifying sources of income cannot be achieved without a clear and serious partnership with the private sector."

He concluded by saying: "I do not fail to congratulate the Supreme Council of the Union of Arab Engineers for holding their 78th meeting in the capital, Baghdad, the place where this ancient council was founded, and I call on the members of the council to take a decision to return the council's headquarters to the place of its foundation, so that Baghdad will embrace it again, and we will provide all forms of necessary support." So". https://www.radionawa.com/all-detail.aspx?jimare=32607

Chairman Of The Integrity Commission: The Corrupt Commit Treason Against The Homeland And Must Be Pursued Relentlessly

The head of the Federal Integrity Commission, Judge Haider Hanoun, confirmed that the corrupt commit treason against the homeland and must be pursued relentlessly.

Judge Hanoun said during his visit to the Commission's investigation office in Diwaniyah, in a statement: "Integrity is determined to bring the senior corrupt to justice, no matter how high they are, and to return the looted funds to the state treasury, describing the task of combating corruption as a sacred duty."

Judge Hanoun stressed the importance of seeking to reform the regulatory system. In order for it to carry out the tasks entrusted to it according to the laws in force in the fullest way and without favoritism or courtesy, it warned that "the corrupt, whether they are young or old, commit treason against the homeland and violate their duties that they swore to perform with sincerity, sincerity and honesty."

He pointed out the importance of "citizens feeling the steps of the new authority, which aims behind it to improve the service provided to them, and to ensure that they are not exposed to extortion and bargaining."

Judge Hanoun emphasized the increase in the pace of work of the commission’s investigation directorates and offices, the diligence and diligence in the investigation and investigation processes, and the provision of emerging evidence; To present it before the judiciary so that the latter takes the appropriate decisions against the accused, pointing out that "people's rights are preserved, and the Commission takes into account respect for human rights and dignity even with the accused, introducing the principle of" the accused is innocent until proven guilty. "

He praised the work of the field inspection teams of hospitals And prisons to remove injustice from the oppressed and hold the negligent accountable, pointing to "the importance of the endeavor of state institutions to eliminate poverty, unemployment and the deterioration of services, of which corruption causes a large part," stressing the endeavor to redress the poor and protect their rights, as they are the first to sacrifice.

And the statement continued, "The visit of the head of the commission to the province included a meeting with the head of the Qadisiyah Appeal Commission, and discussing ways to develop oversight work in a way that leads to reducing corruption and holding its perpetrators accountable. The meeting with a number of lawyers, and Hanoun praised the role of the owners of these professions in reaching out to the corrupt, holding them accountable, and bringing them to justice.

https://www.radionawa.com/all-detail.aspx?jimare=32601

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

https://www.bondladyscorner.com/

DINARRECAPS8 12/17/22 DINARRECAPS8 12/17/22

Iraqi News Highlights Saturday Afternoon 12-17-22

Tlm724 Administrator Bondlady’s Corner

The Effectiveness Of Monetary Policy Between Anti-Money Laundering Measures And The Threat Of The Fixed Exchange System

Dr.. Haitham Hamid Mutlaq Al-Mansour Monetary policy is the main macroeconomic arm through which the overall monetary balance is controlled by the central bank formulating its operational objectives to achieve price stability, through its quantitative and qualitative tools, to pass its control measures on commercial banks by reducing the money supply and reducing inflationary pressures, and continuing to Maintaining the stability of low inflation levels, through the fixed exchange rate system.

Iraqi News Highlights Saturday Afternoon 12-17-22

Tlm724 Administrator Bondlady’s Corner

The Effectiveness Of Monetary Policy Between Anti-Money Laundering Measures And The Threat Of The Fixed Exchange System

And due to the importance of the fixed exchange rate system that has been followed by the monetary authority in Iraq for many years, the directly related parties must work to protect this system from its low effectiveness, as it constitutes an objective guarantee in the reality of the rentier economy to maintain real income levels when planned and within the level of safety. required by the government.

And whoever tracks the current economic facts, it is noted at the level of monetary policy in Iraq, and after the response of the supervisory role of the Central Bank to international requirements in managing the exchange rate of the dollar and combating money laundering and financing terrorism, including the ban on the activity of some banks from dealing in dollars, as they are internationally condemned for the suspicious operations they run to smuggle the currency ,

and money laundering, and then preventing these banks from dealing in dollars has led to a sharp decline in the supply of dollars, after the Central Bank was selling more than 280 billion dollars, it now sells about 75 million dollars, most of these sales go in the form of transfers abroad to finance trade Foreign affairs, while the selling price of the dollar transferred to bank accounts abroad, in addition to the cash sale, reached 1460 dinars per dollar.

It was reflected in the high demand for the dollar for import purposes, which made the market exchange rate rise clearly.

Turning to the fixed exchange rate system, the decrease in the supply of the dollar resulted in an alarming rise in the exchange rates of the dollar, as the exchange rate of one dollar exceeded the limits of 1460 to 1500 dinars, but seriously indicates a decline in decisiveness in monetary policy measures towards inflation rates resulting from the continuous rises since More than two weeks in the local markets (despite the rise in the balance of foreign reserves to the threshold of 90 billion dollars), so that the exchange rate of the US dollar rose to more than 0150 Iraqi dinars, with a price difference of 3 dollars, or approximately 5000 dinars per hundred dollars from the price of The official exchange in which the dollar is sold to commercial banks.

The real fears could come that the continued rise in demand for the dollar will raise the level of the dollar exchange rate threshold and move it from 1460 to 1500, and thus the level of inflation will move to other stages that may lead to difficulty returning to the 1460 threshold, especially in light of media statements close to a decision Central that the price of 1460 is no longer commensurate with the market.

There is no doubt that the rise in the exchange rate of the dollar and its fluctuation in the direction of the rise, are reflected realistically and directly on the prices of commodities and basic and luxury materials, and in the midst of the increasing fears of the Iraqi consumer about the continued reflection of the sharpness of the continuous rises in the exchange rate of the dollar on the real value of money, especially for those with limited and middle-income as well For vulnerable groups,

which constitutes a real obstacle to the stability of the standard of living, and the significant impact of the aforementioned increases on inflation levels and its negative impact on the performance of the private investment sector is evident through the fluctuation in investor expectations and the prevailing atmosphere of uncertainty arising from the continuous announcement of the central bank about the reduction, and the lack of response to prices The exchange of policy measures in the markets,

which raises a real question about the extent of the effectiveness of these measures and the extent to which they touch the reality and the suffering witnessed by the various social segments as a result of the apparent decrease in the value of money.

Turning to the inflation targeting policy, it is inferred from the above-mentioned effects, the low performance of the inflation targeting policy through the fixed exchange system in a way that does not guarantee financial stability in the Iraqi markets, including the difference in the value of the Iraqi dinar and its decline to new, lower limits, which will threaten the stability of real income and financial and macro balance, which It requires the Central Bank to enter into more effective measures to return to the limits that prevailed in the past year, at least 146-147.

Therefore, to maintain the effectiveness of monetary policy in its direction of curbing inflation and to achieve its strategic goal of low and stable inflation, two pivotal steps can be identified:

1- The central bank should take a short-term strategy commensurate with the recent supervisory role and limit its effects on the reality of local exchange rates and the general level of prices, in order to achieve low and stable inflation, by regulating the money supply by following a deflationary policy that seeks to absorb liquidity and spare the country the risks of an increasing rise in the general level. prices by increasing the supply of dollars through the window.

2- Inventing and implementing new mechanisms that contribute to compensating for the decrease in the Central Bank's dollar sales. Views 291 Added 12/17/2022 - 10:30 AM Updated 12/17/2022 - 6:12 PM https://economy-news.net/content.php?id=31381

More Than 661 Million Dollars... Central Bank Sales Last Week

Saturday 17, December 2022 10:43 | Economical Number of readings: 284 Baghdad / NINA / - The Central Bank of Iraq's sales of US dollars during the past week amounted to more than 661 million dollars.

A bank statement stated that, during the past week, during the five days in which the auction was opened, from Sunday to Thursday, it sold 661 million 793 thousand and 693 dollars at a rate of 132 million 358 thousand and 738 dollars per day, a decrease of 1.42% from the previous week

. "The highest dollar sales during the past week were on Wednesday, when sales amounted to 138 million 274 thousand and 640 dollars, while the lowest sales were on Sunday, 122 million 403 thousand and 967 dollars,"

he said, noting that "most of these sales went in the form of Transfers abroad to finance foreign trade, while the selling price of the dollar transferred to bank accounts abroad, in addition to the cash sale, reached 1460 dinars per dollar./ End https://ninanews.com/Website/News/Details?key=1020757

Dollar Exchange Rates In The Local Markets

Economie| 10:10 - 12/17/2022 Baghdad - Mawazine News Today, Saturday, the exchange rates of the dollar witnessed a slight decrease in the local markets. And the selling prices of the dollar were recorded at 151,400 dinars per 100 dollars, while the buying prices of the dollar were recorded at 151,500 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=214364

Al-Sudani: The Government Is Working To Provide What Achieves The Optimal Investment Of Wealth

Money and business Economy News-Baghdad Prime Minister Muhammad Shia al-Sudani affirmed, on Saturday, that the government is working to provide everything that achieves the optimal investment of natural and human resources through economic reforms, stressing the need to find a strong partnership with the private sector.

Al-Sudani said during a speech during the opening of the 29th session of the Arab Engineering Conference in Baghdad, "I welcome the convening of the Supreme Council of the Union of Arab Engineers in its seventy-eighth session in the city of Baghdad, and we congratulate the work of the conference held under the title "Information Society and Advanced Technologies in the Arab World," which was called for by the Syndicate. Iraqi Engineers and the Union of Arab Engineers.

He added, "Today we evoke history and civilization in your conference. The term engineering and the engineering mentality in the comprehensive sense mean the backbone of most of the civilizations that have risen." Services".

Al-Sudani pointed out that "the Iraqi Engineers Union, which was founded in 1959, and which is hosting your conference today, is one of the oldest professional unions in the Arab world. It has contributed greatly to professional leadership of engineering work, and has won the community's trust, making it a safe house to protect the profession and take care of the interests of the beneficiaries." , and a center for expertise and professional advice, and led the engineering community to be a regional and global competitor.

He explained, "At a time when I praise the role of Iraqi engineers through all the circumstances that our dear country went through, I salute their patience, adherence to their high professionalism, and their keenness to provide the best in their various fields."

He continued, "Our government is working to provide everything that achieves the optimal investment of natural and human resources through economic reforms that focus on improving the work environment and overcoming obstacles to expertise and competencies, and diversifying sources of income cannot be achieved without a clear and serious partnership with the private sector."

Views 149 Added 12/17/2022 - 12:44 PM Updated 12/17/2022 - 6:12 PM

https://economy-news.net/content.php?id=31382

An Economist Told NINA: The Chinese-Arab Conference Did Not Come In Favor Of Iraq

Saturday 17, December 2022 10:08 | Economical Number of readings: 329 Baghdad / NINA / - The economic expert, Raad Twij, confirmed: "The Chinese-Arab conference did not come in favor of Iraq."

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

https://www.bondladyscorner.com/

Deb Aspinwall 12/17/22 Deb Aspinwall 12/17/22

"Tidbits From TNT" Saturday 12-17-2022

TNT:

Tishwash: Iran.. The Central Bank admits the collapse of the riyal against the dollar

The Central Bank of Iran confirmed that the protests that took place in the country over the past three months caused turmoil in the money market and the collapse of the local currency (the riyal).

Ali Salehabadi, the central governor, said that the protests caused the local currency to drop in value, according to the Iranian Mehr news agency.

The Iranian currency collapsed in an unprecedented way against foreign currencies, especially the US dollar, and the price of one dollar reached 386 thousand Iranian riyals, which is the highest collapse since 1979.

Abadi added, “The reason for the rise in the price of the dollar is the recent unrest in the country.”

TNT:

Tishwash: Iran.. The Central Bank admits the collapse of the riyal against the dollar

Ali Salehabadi, the central governor, said that the protests caused the local currency to drop in value, according to the Iranian Mehr news agency.

Abadi added, “The reason for the rise in the price of the dollar is the recent unrest in the country.”

The Central Governor stated that the volume of transactions since the beginning of the year (the Iranian year began on March 21) until the eighth month amounted to 32.1 billion dollars, while the figure was 19.6 billion dollars in the same period last year.

In total, he added, $46.5 billion in foreign currency has been sold in the market since the beginning of this year, providing the foreign currency needed by importers.

Regarding the Central Bank's measures to control the foreign exchange market, Saleh Abadi said: Our first plan and work was to align the currency with the trade plan, and for this purpose a joint committee was formed between the Central Bank and the Ministries of Oil and Industry, and this plan will take serious measures as of Saturday to supply more desirable currencies. more.

High inflation, consumer prices and a sharp increase in foreign exchange rates in Iran are among the economic problems of Ebrahim Raisi's government.

Last Wednesday, the governor of the Central Bank, Ali Saleh Abadi, dismissed his deputy for foreign exchange affairs, Afshin Khani, due to the continuous collapse of the local currency.

Salih Abadi Mohammad Aram was appointed as Vice President of the Central Bank for Foreign Currency Affairs.

In early January, Saleh Abadi appointed Afshin Khani as his deputy head of the Central Bank for Foreign Exchange.

In a related context, the semi-official Mehr news agency reported that Afshin Khani's resignation came against the background of the continuous collapse of the local currency.

On the rise in the inflation rate at the beginning of the year, Saleh Abadi said: The generalization of subsidies, the increase in salaries in the Supreme Labor Council to 57%, and the change in the basis of customs duties caused inflation to grow in the year.

A number of Iranian parliamentarians recently demanded that the governor of the Central Bank be held accountable and interrogated against the background of the collapse and his conflicting statements regarding the increase in foreign exchange revenues due to the rise in oil exports, while the country is witnessing a collapse of the local currency. link

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Tishwash: Parliamentary Finance: International pressure caused the dimensions of 7 private banks practicing corruption and money laundering

Baghdad - Iraq Today:

A member of the Parliamentary Finance Committee, Jamal Kojar, announced that the exclusion of banks from the Central Bank auction to sell the dollar due to the pressure exerted by the United States on Iraq to control the sale of the dollar, led to a decline in the value of the dinar against the US dollar.

Jamal Kojar said, in a press interview, that the fluctuation of the value of the Iraqi dinar against the dollar, due to two reasons, the first is the removal of 7 banks from the auction of the sale of currency to the Central Bank after 42 banks were participating in it, "due to US pressure on the Central Bank of Iraq because of corruption and money laundering," pointing to "tightening control over the 35 banks participating in the auction now" for the repercussions of the matter on the reputation of the Central Bank of Iraq and confidence in it at the international level.

The Central Bank of Iraq had issued a clarification regarding the rise in the dollar exchange rate on Thursday (December 15, 2022), in which it noted that "the rise is due to several factors, including the construction of an electronic platform through which banks raise their customers' requests."

In turn, the Iraqi government affirmed its commitment to the stability of the local market and the stability of the exchange rate of the dollar against the dinar, indicating that the rise in the exchange rate of the foreign currency is a temporary situation.

Jamal Kojar pointed to the drop in the price of oil by $ 20 a barrel, as another reason "that pushes the new government not to be serious about controlling the exchange rate, because it has made promises to citizens."

In this context, a member of the Parliamentary Finance Committee explained that an increase of 50 dinars on the exchange rate of one dollar will constitute a large amount in a budget ranging between 70-80 dollars, which is in the interest of the government, "because it cannot raise the exchange rate officially, after the Prime Minister promised earlier to reduce it, while the parties forming the government are heading to run in the provincial council elections."

"In the past there was chaos and a lot of corruption in the sale of dollars, banks provided forged documents, and some people and parties took advantage of this," he said.

Regarding the date of sending the draft budget law to the House of Representatives, he explained that there are factors that led to the delay in sending it, namely, the decrease in the price of oil by about $ 20, in addition to the fluctuation of its price, among the factors that prompted the Ministries of Planning and Finance not to send the law to Parliament so far, because "the government will be forced to fix the price of oil in the budget less than $ 10 from its original price, and the failure of Erbil and Baghdad to reach an agreement is one of the factors for delaying the budget as well."

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CandyKisses: Al-Sudani: Our government is working on providing economic reforms that focus on improving the work environment

{Politics: Al Furat News} Prime Minister Muhammad Shia Al-Sudani opened, on Saturday, the work of the twenty-ninth session of the Arab Engineering Conference, which is being hosted by the capital, Baghdad.

The media office of the Prime Minister stated in a statement received by {Euphrates News}, that "the latter welcomed the convening of the Supreme Council of the Union of Arab Engineers in its seventy-eighth session in the city of Baghdad, and the government's blessing for the work of the conference held under the title {Information Society and Advanced Technologies in the Arab World} which it called It has the Iraqi Engineers Syndicate and the Arab Engineers Union.

According to the statement, the prime minister said during the opening speech, "Today we bring up history and civilization in your conference. The term engineering and the engineering mentality in a comprehensive sense means the backbone of most of the civilizations that have risen."

He added, "Engineering sciences have contributed remarkably and amazingly to the development of societies, providing better, easier and more organized life, and participating in improving aspects of services."

He continued, "The Iraqi Engineers Association, which was founded in 1959, and which is hosting your conference today, is one of the oldest professional associations in the Arab world. It has contributed significantly to professional leadership of engineering work, and has won the community's trust, making it a safe house to protect the profession and care for the interests of beneficiaries, and a center for expertise." And professional advice, and led the engineering community to be a regional and global competitor.

Al-Sudani praised the "creative works of quite a few Iraqi figures that the world witnessed in the field of engineering," adding, "We call for them to have a distinguished role in the next stage and in the vital sectors that we referred to in our ministerial approach, which won the confidence of the distinguished parliament."

The Prime Minister affirmed that "the government is working to provide everything that achieves the optimal investment of natural and human resources through economic reforms that focus on improving the work environment and overcoming obstacles to expertise and competencies, and diversifying sources of income cannot be achieved without a clear and serious partnership with the private sector."

He concluded by saying, "I do not fail to congratulate the Supreme Council of the Union of Arab Engineers for holding their 78th meeting in the capital, Baghdad, the place where this ancient council was established, and I call on the members of the Council to take a decision to return the headquarters of the Council to the place of its foundation, so that Baghdad will embrace it again, and we will provide all forms of necessary support."

CandyKisses: CHRISTMAS IS CANCELED

Mot: Apparently, the Griswolds decided to visit my hometown for the holidays

DINARRECAPS8 12/17/22 DINARRECAPS8 12/17/22

Saturday Morning Iraq Economic News Highlights 12-17-22

A Deputy Is Waving A Demand To Interrogate Al-Sudani And The Governor Of The Central Bank Regarding The Rise In The Dollar

Political | 09:41 - 12/17/2022 Baghdad - Mawazine News, a member of the Parliamentary Legal Committee, Raed al-Maliki, waved, on Saturday, a demand to interrogate Prime Minister Muhammad Shia al-Sudani and Central Bank Governor Mustafa Ghaleb Makhaif in the event that the dollar exchange rate does not return to its previous state.

Saturday Morning Iraq Economic News Highlights 12-17-22

A Deputy Is Waving A Demand To Interrogate Al-Sudani And The Governor Of The Central Bank Regarding The Rise In The Dollar

Al-Maliki said in an interview with the official "Al-Sabah" newspaper, followed by Mawazine News, that "the government has begun work to restore the exchange rate by taking some measures," noting that "Parliament, by virtue of its oversight work, has monitored the government's work, and two points or two violations have been diagnosed so far; failure in politics."

Finance and the exchange rate, a failure that demonstrated the government's inability to control the issue of the exchange rate and fiscal and monetary policy.

He added, "Parliament is monitoring the government's actions during this period, and will await the results of these measures until the end of the legislative recess," waving, "to demand the interrogation of the prime minister and the governor of the central bank, if no results are reached in this regard and the exchange rate returns to its previous state." https://www.mawazin.net/Details.aspx?jimare=214362

A Slight Decrease In The Exchange Rates Of The Dollar In The Local Markets

Economie 2022-12-17 | 01:46 Source: Alsumaria News 3,264 views Alsumaria News publishes, today, Saturday, the exchange rates of the dollar in the local markets.

The selling price of the dollar was 151,400 dinars per 100 dollars, while the buying price of the dollar was 151,500 dinars per 100 dollars.

It is noteworthy that, on December 19, 2020, the Central Bank of Iraq officially announced the adjustment of the exchange rate of the US dollar to be 145 thousand dinars for every 100 dollars, according to the state’s general budget for the year 2021 approved by Parliament. LINK

Yellow” Towards The Worst Weekly Loss In A Month

Economie 16-12-2022 | 12:09 Source: Sky News 1,740 views The price of gold rose on Friday, but it is on its way to recording the largest weekly decline since mid-November, after the US Federal Reserve indicated the need for more interest rate hikes to curb inflation.

On Wednesday, the US Federal Reserve raised interest rates by 50 basis points, as expected, to a range of 4.25 percent to 4.50 percent.

But Jerome Powell Chairman of the Board, said the Bank will continue to raise interest rates next year, despite exacerbating recession fears. LINK

The World Bank: Iraq Is Threatened With Losing 20% Of Its Water By 2040

Iraq 11:59 - 2022-12-17 The World Bank warned, on Saturday, of the seriousness of the water situation in Iraq, noting that the country may lose 20% of its water until the year 2040.

Salim Rohana, responsible for sustainable development programs in the Levant region, said in a statement reported by the official newspaper, “Water is a structural and life issue.” And it is subject to the issue of supply and demand, as the demand for water is increasing in Iraq due to its modernity and civilization, as well as the agricultural sector, which is still using the old methods of irrigation, which consequently leads to a decrease in the amount of water with time.

Rouhana added, "The climate change factor and the decrease in rainfall could increase the water shortage by 20% until the year 2040," noting that "there are many solutions by reviewing the water distribution policy for irrigation and the population's uses." https://kirkuktv.net/AR/Details/11594

The Stability Of Gold Prices In The Local Markets

Economie| 01:06 - 12/17/2022 Baghdad - Mawazine News The prices of "foreign and Iraqi" gold have stabilized in the local markets in the capital, Baghdad.

The selling price of gold for one 21-carat weight of Gulf, Turkish and European gold was 379 thousand dinars, and the purchase price was 375 thousand dinars, which are the same prices as last Thursday.

And the selling price of one weight 21 karat Iraqi gold also recorded stability at 349 thousand dinars, and the purchase price reached 345 thousand.

With regard to gold prices in goldsmiths’ shops, the selling price of 21 karat Gulf gold ranges between 380 thousand dinars and 390 thousand, while the selling price ranged between the gold weight The Iraqi between 350,000 and 360,000 dinars. https://www.mawazin.net/Details.aspx?jimare=214378

Al-Sudani Directs The Allocation Of 15 Billion Dinars In Support Of The Work Of The Government Effort Team

Political | 11:04 - 12/16/2022 Baghdad - Mawazine News The government service and engineering effort team confirmed, today, Friday, the issuance of a directive from Prime Minister Muhammad Shia'a Al-Sudani to allocate 15 billion dinars in support of the team's work in disadvantaged areas, as well as other directives related to the involvement of the private sector in the campaign, while touching on the most prominent achievements in it currently.

The head of the team, Undersecretary of the Ministry of Construction and Housing, Jaber Al-Hassani, told the official news agency, followed by Mawazine News, that "the service effort team continues to expand its work, which was launched on the fourth of last November in Baghdad, and has accomplished different percentages in 13 regions, and 4 new regions will be entered during The coming days, after the agreement on business between Baghdad Governorate and the Ministry of Construction and Housing, bringing the total number to 17.

He added, "The parties involved in the current work are the Baghdad Municipality, the Popular Mobilization Forces, the Ministries of Construction, Defense, Oil and Electricity, and everyone is working as planned, and we are achieving daily advanced achievement rates."

And he continued, "The Shaker Al-Ani area has entered the stage of cladding the streets, as well as paving the main street in Al-Basateen neighborhood, as well as Abu Tayara Street in Al-Dora and the main street in the Doanam Al-Shuala area.

He pointed out that "all the areas covered by the campaign have implemented sewage and water networks, whether those that were built randomly or that did not have such services at all, and then the works of muqarnas bricks and paving the main streets are being implemented."

And about the last meeting of the service effort team with Prime Minister Muhammad Shia’a al-Sudani, between al-Hassani, that “the meeting was very fruitful, in which what was accomplished was reviewed and defects were pointed out, in which the Prime Minister directed the involvement of the private sector in business through the federation of contractors and businessmen, so that the process is participatory in 4 types.” Among the works are the removal of rubble, transportation of ordinary and silted gravel, participation in street planning, as well as the establishment of parks.

Regarding the most important challenges, the head of the service effort team stated that it is "related to financial allocation, as the current work is funded by the departments participating in the business," announcing the issuance of a directive from the Prime Minister to allocate 15 billion dinars to support the work of the team, provided that it is also supported by additional allocations in the 2023 budget.

Yesterday, Thursday, the Prime Minister, Muhammad Shia'a Al-Sudani, directed a request for the private sector's voluntary contribution and to conduct field visits to the areas served by the government's efforts, in order to see the problems of the population and work to address them.

The media office of the Prime Minister, received by Mawazine News, stated that "the Prime Minister, Muhammad Shia' al-Sudani, chaired a meeting that included the head of the government service and engineering effort team and a number of its members."

He continued, "Al-Sudani listened to a detailed report that included the completed work and the progress of carrying out the tasks since the start of the team's work on the first of last November. He also reviewed the implemented implementation mechanism, work obstacles, and financial needs schedules for the next year."

Al-Sudani directed, "to request the private sector's voluntary contribution, and to conduct field visits to the areas served by government effort work by the community police and social effort, in order to see the problems of the population and work to address them, educate citizens, and urge them to cooperate with the government effort teams." https://www.mawazin.net/Details.aspx?jimare=214300

Al-Sudani: The Government Is Working To Provide What Achieves The Optimal Investment Of Wealth

Views 36 Added 12/17/2022 - 12:44 PM Updated 12/17/2022 - 1:48 PM

https://economy-news.net/content.php?id=31382

DINARRECAPS8 12/16/22 DINARRECAPS8 12/16/22

Iraqi News Highlights Friday Afternoon 12-16-22

Tlm724 Administrator Bondlady’s Corner

The Dollar Stabilizes At The Last High In The Local Markets

Economie| 09:50 - 12/16/2022 Baghdad - Mawazine News Today, Friday, the exchange rates of the dollar witnessed stability in the local markets. And the selling prices of the dollar recorded 152,000 dinars per 100 dollars, while the buying prices of the dollar were recorded at 151,900 dinars per 100 dollars.

Sudanese Office: The Rise In The Exchange Rate Is Temporary

The media office of the Prime Minister confirmed that the rise in the exchange rate is temporary as a result of changing the mechanism by which the window for selling foreign currency in the Central Bank operates, indicating that the financial situation of Iraq is at its best.

Iraqi News Highlights Friday Afternoon 12-16-22

Tlm724 Administrator Bondlady’s Corner

The Dollar Stabilizes At The Last High In The Local Markets

Sudanese Office: The Rise In The Exchange Rate Is Temporary

And the media office stated in a statement, "The government confirms its commitment to maintaining the stability of the local market, by supporting the stability of the exchange rate of the dollar against the Iraqi dinar, and it supports the steps of the Central Bank in this regard."

He added, "The government makes it clear that the rise in the exchange rate is temporary as a result of changing the mechanism by which the window for selling foreign currency in the Central Bank operates, and it reassures all citizens that the financial situation of Iraq is in its best condition."

And he continued, “The government stresses to all dealers, including investors and merchants, the need to cooperate with banks and the Central Bank by working in accordance with the commercial contexts in force globally, and importing according to documentary credits, as it provides a guarantee for the importer, preserves his rights, secures imported goods, and enables him to benefit from banking facilities.” in covering the credit value. https://www.radionawa.com/all-detail.aspx?jimare=32593

The Minister Of Construction Meets A Delegation From The World Bank

Thursday, December 15, 2022 21:58 | Economical Number of readings: 700

Baghdad / NINA / - The Minister of Construction, Housing and Public Municipalities, Bengin Rikani, met Ibrahim Dajani, Director of the Transport Sector at the World Bank for the Middle East and North Africa.

During the meeting, emphasis was placed on the continuation of joint cooperation between the Ministry and the World Bank. Roads and bridges projects were also discussed, especially future plans to develop road networks in Baghdad and rehabilitate the main bridges therein, as well as reviewing the completed and ongoing highway projects to be funded by the World Bank./ finished8

https://ninanews.com/Website/News/Details?key=1020602

Al-Sudani Agrees To Form An “Investment Development Cell” And Define Its Work Duties

Friday 16 December 2022 15:24 | Economical Number of readings: 195 Baghdad / NINA / - The Prime Minister's Office issued a bureau order to form an "investment development cell" linked to the office of the Prime Minister and work under the supervision of the advisor, "Muhammad Naji Al-Najjar", and specifying its work duties, based on the approval of the Prime Minister./ End https://ninanews.com/Website/News/Details?key=1020660

Minister Of Electricity: Proposals From Major Energy Companies To Implement Important Projects In Iraq

Energy Economy News – Baghdad On Friday, Minister of Electricity Ziyad Ali Fadel announced the development of a plan with time ceilings to implement important projects that contribute to improving the energy situation, noting that offers, studies and proposals were received from major energy companies to implement them.

Fadel said, in an interview with the official news agency, that "the Ministry of Electricity has drawn up a plan within time limits to implement important projects that contribute to improving the status of electric power for citizens."

He added: "We took it upon ourselves to receive offers, studies and proposals submitted by major energy companies to achieve this goal, and we met with a number of major energy companies and discussed some important projects, including combined cycles, solar energy and offers to add new energy."

And the minister continued, “A meeting yesterday, Thursday, with a delegation of Italian companies, and part of them have representation and implementation of some of the ministry’s projects, to discuss and study the proposals submitted by them to present them to the Council of Ministers to benefit from their experiences in the field of transmission and distribution of electricity energy and in the field of clean energy that we seek to be part of.” We generate solar energy so that we can reduce fuel use and rely on additional new energies that do not depend on gas or fuel that cause pollution.”

Views 48 Added 12/16/2022 - 4:29 PM Updated 12/16/2022 - 5:42 PM

https://economy-news.net/content.php?id=31371

A Cautious Rise In Oil Prices

Economie| 09:04 - 12/16/2022 Follow-up - Mawazine News Oil prices rose in early Asian transactions on Friday, after falling by 2 percent in the previous session in the wake of central banks raising interest rates, and are heading towards ending the week's transactions on a rise after a series of positive expectations for oil demand.

By 0109 GMT, Brent crude futures were up 36 cents, or 0.4 percent, at $81.57 a barrel. West Texas Intermediate crude futures rose 25 cents, or 0.3 percent, to $76.36 a barrel.

The two benchmarks are heading towards ending the week up by more than seven percent.

The market received support this week from the expectations of the International Energy Agency regarding the recovery of Chinese demand next year, after its contraction in 2022 to 400 thousand barrels per day. The agency raised its forecast for oil demand growth in 2023 to 1.7 million barrels per day.

On Tuesday, the Organization of the Petroleum Exporting Countries (OPEC) announced its commitment to its forecast for global demand growth of 2.55 million barrels per day (bpd) this year and 2.25 million bpd in 2023 after multiple cuts, saying that although the economic slowdown was "quite clear" there was a potential pick-up. Stemming from, among other things, easing the zero Covid policy in China. Ended https://www.mawazin.net/Details.aspx?jimare=214287

Planning The Date For Issuing The Annual Report On The Rate Of Inflation, Poverty And Unemployment

local| 12:48 - 12/16/2022 Baghdad - Mawazine News Today, Friday, the Ministry of Planning set the date for the issuance of the annual report on the rate of inflation, poverty and unemployment.

"So far, there are no new indicators regarding the inflation rate for the current year, poverty and unemployment, because the annual report on these indicators is issued after entering the new year 2023," the ministry's spokesman, Abdul Zahra Al-Hindawi, told the official news agency, followed by Mawazine News.

Al-Hindawi added, "The report has not been completed yet, and the Central Statistical Organization has not discussed this yet."

And the Ministry of Planning announced, on Sunday (11/27/2022), the start of preparing the poverty reduction and five-year development strategies for the next five years 2023-2027. Ended 29 / m99

https://www.mawazin.net/Details.aspx?jimare=214307

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

https://www.bondladyscorner.com/

Deb Aspinwall 12/16/22 Deb Aspinwall 12/16/22

Some "Vietnam News" Posted by Henig at KTFA 12-16-2022

KTFA:

Henig: From chips to ships, South Korea and Vietnam cozy up

Newly announced strategic partnership points to shared interests in diversifying away from China and Russia

By ANDREW SALMON DECEMBER 15, 2022

SEOUL – Vietnamese President Nguyen Xuan Phuc has become the first foreign leader to make a state visit to South Korea at the express invitation of President Yoon Suk-yeol, who took office in May.

During Phuc’s three-day visit last week – accompanied by a hefty delegation that included his foreign minister, trade and industry minister and planning and investment minister – the two nations announced a new “comprehensive strategic partnership.”

South Korea is already the largest foreign investor in Vietnam, building fro the two sides’ free trade deal signed in 2015. Now, as differing political forces compel South Korea and Vietnam to diversify away from, respectively, China and Russia, wider and more fruitful avenues of cooperation may lie ahead.

KTFA:

Henig: From chips to ships, South Korea and Vietnam cozy up

Newly announced strategic partnership points to shared interests in diversifying away from China and Russia

By ANDREW SALMON DECEMBER 15, 2022

SEOUL – Vietnamese President Nguyen Xuan Phuc has become the first foreign leader to make a state visit to South Korea at the express invitation of President Yoon Suk-yeol, who took office in May.

Yoon said that Seoul will support the strengthening of Vietnam’s capability to enforce maritime laws – code for supply of naval equipment – and expand cooperation in defense, as well as in the high-tech sector and in rare earths.

In the wake of a huge deal with Poland, Seoul is currently on an international arms-sales roll at what looks like a fortuitous moment. Vietnam, which has just hosted its first-ever international defense expo, is being required to diversify away from its customary weaponry supplier, Russia.

And at a time when semiconductor companies in nations allied to Washington are being forced to rethink their supply chain, investment and export strategies as decoupling with China looms, Samsung – which already makes smartphones and home appliances in Vietnam – is set to begin chip-related production in Vietnam next year.

Vietnam, like China, is a key source of rare earths, raw minerals widely used in high-tech components. The two nations also signed an agreement in that field.

In 2009, Hanoi and Seoul had announced a strategic relationship covering military cooperation and strategic dialog mechanisms, but the deal largely remained dormant. In 2017, Phuc asked Seoul’s then-foreign minister Yun Byeong-se to back Hanoi’s position on the South China Sea and assist with “law enforcement” in the area.

South Korea, then led by the progressive Moon Jae-in administration, was not keen to irk China, its largest trade partner. Now, the Vietnamese may be pushing on an open door given how the conservative Yoon administration is so focused on overseas defense sales.

Vietnamese President Nguyen Xuan Phuc and South Korean President Yoon Suk-yeol during the former’s state visit to Seoul.

The two Sinic-influenced nations, situated at opposite ends of the Chinese land mass, have mirror-image recent histories.

Both were divided nations; both fought bloody Cold War hot conflicts with direct US engagement. Complicating matters, South Korean troops fought effectively – but brutally – on the US side. North Vietnam successfully unified after its 1975 invasion of South Vietnam, while Korea remains divided.

Both nations have complicated relations with China. Vietnam, while a fraternal communist state, fought a border war with China in 1979 and territorial tensions between Beijing and Hanoi continue to simmer over Chinese naval expansionism in the South China Sea.

Korea fought against China during the 1950-53 Korean War, but after the two capitals opened diplomatic relations in 1992, China has become Korea’s largest trade partner.

However, with Washington and Beijing increasingly at odds, Seoul suffered collateral damage in the wake of the deployment of a US missile defense system in 2017. Now, under US pressure, its technology giants face are facing the prospect of decoupling their supply chains from China.

Given these complex dynamics, fruitful avenues for Hanoi-Seoul cooperation beckon.

Heavy international sanctions on Russia, Vietnam’s traditional arms supplier of everything from jet fighters to submarines, are complicating acquisitions of new tranches of weaponry from Moscow.

While Russian missiles have proven deadly in the ongoing war on Ukraine, the questionable performance of its ground, air and naval forces has not delivered a marketing windfall for its wares. And as battle rages, huge stocks of Russian military products are being burned through by domestic users.

South Korea looks well positioned to fill that vacuum, having this year signed its biggest arms deal ever, selling tanks, self-propelled guns, multiple launch rocket systems and jet fighters to Poland in a huge, country-to-country deal that has been valued at anywhere between US$9 billion and $15 billion.

The country offers NATO-standard weaponry and its manufacturing base is noted for both price competitiveness and efficient and timely execution.

“The Korean government is committed to contributing to maritime security in the region, we will actively support the strengthening of Vietnam’s maritime law enforcement capabilities and expand defense industry cooperation with Vietnam,” Yoon said during Phuc’s visit.

While South Korean vessels have not taken part in the “Freedom of Navigation Operations” (FONOPs) off Chinese-occupied and militarized islets and reefs in the South China Sea that the US and some Western navies have prosecuted, it has donated two decommissioned Pohang-class corvettes to Vietnam. They are currently being repurposed as specialist anti-submarine craft.

According to US Congress-funded media Radio Free Asia, Vietnam is also interested in South Korea’s KF-21 fighter yet and could make a buy if technology transfer is built into a deal. The KF-21, which held its first test flight this year, is a multirole fighter that retails at a lower price point than top-tier stealth jets such as the US-made F-35.

The two countries’ defense ministers held a bilateral defense dialog in Seoul in September, covering the arms industry, maritime security, military logistics and cybersecurity.

And Yoon’s personal interest in upgrading the local defense sector is clear. He has talked it up in the past, and on December 14 his cabinet approved the establishment of a new “Defense Innovation Committee,” to be chaired by the president himself.

From December 8-10, Vietnam opened its first international defense show, the VIDEX, or Vietnam International Defense Expo 2022, in Hanoi, hosted by the country’s Ministry of Defense. Though Russian defense companies were pitching their wares at “Vietnam Defense 2022,” visitors were told that Hanoi is seeking to diversify its arms supply sources.

“They stated that diversification was the goal by 2030,” a source in the sector who visited the expo and who spoke on condition of anonymity as he did not have permission to speak to media told Asia Times. “They did not say diversification away from Russia, but that was implicit.”

While Russian companies were represented at the show, the source – who admitted his surprise at how professional the show was given that it was the first Vietnamese experience in running one – noted the particularly high-profile presence of Indians and Israeli vendors.

“Vietnam prizes its independence and its degrees of freedom,” the source said. “They want to be seen as equidistant from everyone as they want to act in autonomous ways.”

During his state visit, Phuc met Samsung Electronics vice president Han Jong-hee, who announced that Samsung will increase its investments in Vietnam to some $20 billion.

Samsung has already invested $18 billion in Vietnam, largely for manufacturing smartphones and home appliances. To date, it has not invested in semiconductor production in Vietnam.

Currently, major uncertainties hang over the future of Samsung’s NAND memory chip fabs in China due to US policy pressures.

“As the US looks to put a limit on the number of shipments of chip-making tools to China, Vietnam rises as an optimum alternative destination,” according to a September report by Vietnam Briefing, “The addition of the South Korean giant is likely to foster the development of semiconductors’ related industries, as well as push forward the development of appropriate skillsets and expertise within the country.”

Samsung is Vietnam’s biggest single foreign investor, and in 2023, will expand its presence from phones and home appliances into semiconductor components, Vietnam Briefing noted. In August, it was announced that Samsung would begin trial production of its “flip-chip ball grid array” — a packaging technology used for chips – in Vietnam.

Samsung is not alone. In August, US chipmaker Synopsis announced an investment in the country, and other competitors including Qualcomm and SK hynix already have presences. Most chip firms operating in Vietnam are operating in the downstream end of the sector, such as packaging and testing, rather than the high-end practices of design and manufacturing.

This fits with Vietnam’s industrial base and its human resources’ skillsets.

“A couple of things the Vietnamese can do if they have the right investors are back-end assembly and packaging, which is heavily concentrated in Southeast Asia and China as wages are low,” added Scott Foster, a Japan-based semiconductor analyst and Asia Times columnist. “There are a lot of components that go into chip production that are not highly sophisticated nanometer-scale things, and Vietnam could make those kinds of things.”

However, avenues of cooperation are not exclusively one-way.

China is currently the world’s largest supplier of rare earths, but if supply chains are cut, Vietnam – which is believed to have a wide, but so far unexploited supply of the materials – could help to fill the gap. Rare earths are used in the manufacture of multiple high-tech components, from superconductors to lithium batteries to electronic displays to electric motors.

“We share the view that there is great potential for cooperation between the two countries on the development of rare earths abundant in Vietnam and decided to seek concrete ways to cooperate on the sector,” Yoon said.

“China’s market share in rare earths is so high that cutting them off is not a practical option at this point, so what everyone is trying to do is diversify away from over-dependence on China,” added Foster. “There are two ways: One is to find another potential source of rare earths, the other is to develop technologies that reduce dependencies on rare earths.”

He suggested that for the Vietnamese, the first option would make sense, while ultra-high-value-added economies like Japan focus on the second.

Follow this writer on Twitter @ASalmonSeoul LINK

Toyvp: I HAVE TOLD YOU IN THE PAST THAT BOTH SAMSUNG AND LG ARE 1 OF THE LARGEST INDUSTRIAL COMPANIES IN VIET NAM BOTH EMPLOY OVER 250,000 PEOPLE IF THIS IS CORRECT THEY WILL BE OPENING UP EVEN MORE OPENINGS,

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Henig: VN-Index gains nearly 5 points

By Dat Nguyen December 15, 2022 | 02:37 am PT

An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Vietnam’s benchmark VN-Index rose 0.47% to 1055.32 points Thursday.

The index closed 4.89 points higher after gaining 2.98 points on Wednesday.

Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 10.16% to VND12.34 trillion ($524.99 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 19 tickers gain.

VPB of private lender VPBank led with a 6.7% rise to ceiling price.

It was followed by MBB of lender MB, up 4.4%, and TCB of the largest private lender Techcombank, up 2.4%.

MSN of conglomerate Masan Group gained 2.3%, and VIB of Vietnam International Commercial Bank rose 1.9%.

Eight blue chips fell, with PDR of Phat Dat Real Estate Development losing and VHM of property giant Vinhomes both falling 4.3%.

Foreign investors were net buyers to the tune of VND319.06 billion, mainly buying VND of brokerage VNDirect and DXG of real estate developer Dat Xanh Group.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 0.12% while the UPCoM-Index at the Unlisted Public Companies Market was up by 0.67%. LINK

Henig: Why G7 aims to crack Vietnam's coal fix with $15.5 bln deal: Maguire

12/14/2022 | 07:37pm EST

LITTLETON, Colo., Dec 14 (Reuters) - The Group of Seven (G7) industrialized nations have pledged $15.5 billion to help Vietnam transition away from coal, as part of a Just Transition Energy Partnership (JTEP) effort aimed at luring influential economies onto greener energy road maps.

There are several reasons why the G7 targeted Vietnam for special treatment, including that it was the ninth largest coal consumer and relied on coal to produce roughly half of its electricity in 2021, according to the BP Statistical Review of World Energy.
Such a high reliance on coal for energy production in turn makes Vietnam a major polluter, ranking 22nd globally, according to BP, in terms of total carbon dioxide (CO2) emissions in 2021.

GROWING HEFT

The G7 targeted Vietnam for intervention not because of the country's current scale of coal use and pollution, but because of its growth potential in the years ahead if the country's energy system retains its current coal-heavy composition.

The glide path of emissions from its power sector over the past five years reveals the extent of Vietnam's potential polluting clout in the decades ahead.

Between 2017 and 2021, Vietnam's power sector emissions from burning fossil fuels jumped by 65.3% to more than 121 million tonnes of CO2 or equivalent gases, data from Ember shows.

That's the fastest growth in all of Southeast Asia, and places Vietnam as the second largest power sector polluter in the region behind Indonesia (another target of JTEP efforts).

What's more, Vietnam's power emissions have grown nearly three times faster than Indonesia's since 2017, putting Vietnam on track to overtake Indonesia before the end of the decade if the average power sector emissions pace of the past five years remains unchanged in both countries.

GROWING REACH

Vietnam's rapidly expanding status as an export powerhouse is another reason why it is a good candidate for G7 economies to engage with over energy system overhauls.

In 2020, the country was the 41st largest economy in the world but the 16th largest exporter, according to the Observatory of Economic Complexity (OEC).

Thanks to relatively cheap labor costs and good supply chain connections, Vietnam has emerged as a major manufacturer and exporter of electronics, textiles, machine parts and furniture.

The country is also a beneficiary of the fallout from the U.S.-China trade war, which sparked several manufacturers to rebase some of their manufacturing facilities to countries outside of China.

Export earnings topped a record $330 billion in 2021, up from $70 billion in 2010, International Monetary Fund data shows.

GROWING OPTIONS

Vietnam's export earnings growth will likely accelerate in the years ahead as the capital investments made in factory expansions following the U.S.-China trade war come to fruition.

However, it is unclear what form of energy will supply that additional manufacturing capacity.

According to data from Ember, 64.3% of Vietnam's electricity was generated from fossil fuels in 2021 (52% coal, 12% gas), while 35.7% came from clean energy sources (30% hydropower, 5% solar).

The funding plan proposed by the G7 nations provides Vietnam's authorities with the means to make significant new investments in energy production that could push the balance of power heavily in favor of clean energy.

What's more, the proposed funding comes at a time when the efficiency and cost profiles of renewable supplies have been proven to be superior to many fossil fuel alternatives, provided sufficient planning is made to ensure stable baseload supplies during periods of reduced output from wind and solar sources.

Nearly a third of Vietnam's total electricity generation already comes from hydropower, which can be dispatched on command to make up for the intermittency of other renewable sources.

That means the country is well placed to take full advantage of a timely energy system upgrade that has the potential to sustain Vietnam's economic momentum while simultaneously lowering its reliance on high-polluting coal.

In addition, due to its proximity to other fast-growing economies with similar ambitions to develop manufacturing hubs - including the Philippines, Thailand and Cambodia - any successful retooling of Vietnam's energy system can be used as a template elsewhere.

(Reporting by Gavin Maguire)

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Henig: Efforts made to ease stock, corporate bond crunch

06:00 | 16/12/2022

(VEN) - Vietnam is seeking to expand the nation’s corporate bond market in response to diverse business credit needs and efforts to ensure liquidity.

Limited cash flows

Tran Thi Thu Trang, Deputy Chief Executive Officer of the Techcom Securities Joint Stocks Company (TCBS) said that businesses are facing difficulties in raising capital, while looming bonds maturities also put pressure on businesses that cannot find the capital to repay or restructure their debts. Trang proposed additional policies to enhance enterprises’ access to capital, focusing on public issuance, which has a strict legal appraisal process and help increase investor confidence.

According to General Director of VNDIRECT Securities JSC Nguyen Vu Long, the biggest problem for the bond market today is liquidity of enterprises. Banks have run out of credit room from the middle of the 2nd quarter to the beginning of the 3rd quarter, and other capital mobilization channels have also posed obstacles. Meanwhile, very few businesses were able to raise capital through new bonds in the fourth quarter of 2022.

According to Le Quoc Binh, General Director of Ho Chi Minh City Technical Infrastructure Investment JSC, repaying bond debts to investors is the responsibility of the issuers, not the state, and they must manage all mobilization channels in order to maintain market credibility.

Declining VN-Index

At a Nov. 23 meeting to discuss easing difficulties for the stock and corporate bond markets, organized by the Ministry of Finance (MoF), Minister of Finance Ho Duc Phoc warned that investor confidence in bonds and stocks has declined recently. He described the stock market as an “economic thermometer” that responds to troubles such as the 2022 case of Tan Hoang Minh, FLC, or An Dong company and SCB bank. The VN-Index has decreased by 38 percent compared to the beginning of 2022, he added.

Corporate bonds are an important medium and long-term capital market tool for businesses and the economy. However, as of September 30, 2022, the whole market has VND1.26 quadrillion, equal to nearly 10 percent of the outstanding loans of commercial banks. Recent violations in this field led to money withdrawals among investors, and caused difficulties for enterprises in capital borrowing.

Deputy Minister of Finance Nguyen Duc Chi said that the MoF will work with relevant ministries and agencies to report to the government and the Prime Minister and discuss immediate and long-term solutions, helping the market continue its sustainable development.

Ngan Thuong LINK

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Henig: Vietnam eyes to develop 'made-by-Vietnam' sporting goods for export: Minister

15:45 | 15/12/2022

Vietnam supports the Federation of the European Sporting Goods Industry (FESI) to develop its production system of footwear and sporting goods in the country, said Minister of Industry and Trade Nguyen Hong Dien on December 14.

Speaking at a meeting with Vice President of FESI Manuel Pauser on December 14 on the sidelines of the summit commemorating the 45th year of the EU-ASEAN Diplomatic Relations, Dien emphasised that Vietnam has the ambition to export “made-by-Vietnam” products rather than “made-in-Vietnam” ones.

He said that with a stable supply in terms of output and quality of textile and sportswear, Vietnam hopes European Union (EU) enterprises will continue to consider and give priority to choosing it as their supplier in the coming time.

The EU-Vietnam Free Trade Agreement (EVFTA) has come into effect and Vietnam's textile, garment, and footwear products enjoy many tariff preferences, with much lower preferential tax rates compared with those under the most-favored-nation (MFN) scheme.

Dien said that is a great advantage for EU businesses when choosing Vietnam as a partner to produce, supply, and import goods into the European market.

He said he hopes that FESI will strengthen exchanges and cooperation with Vietnam in human resources training for the textile, garment, and footwear industries so that Vietnamese workers will have better skills to be able to access and master new advanced technology and equipment.

FESI vice president Manuel Pauser hailed Vietnam’s efforts in controlling the COVID-19 pandemic and reopening productions, which make European investors trust in the safety of the country and its commitment to tackling difficulties.

The EU is the second largest importer of Vietnam's leather and footwear products with a turnover of US$4.5 billion in 2021, accounting for 25.1percent of the industry's export turnover.

In the first 10 months of 2022, Vietnam's export turnover to this market reached US$5.6 billion, a year-over-year increase of over 40 percent.

VNA LINK

DINARRECAPS8 12/16/22 DINARRECAPS8 12/16/22

Friday Morning Iraq Economic News Highlights 12-16-22

Al-Sudani's office regarding the rise in the exchange rate: a temporary matter and Iraq's financial situation is in its best condition

Iraq 21:37 - 2022-12-15 Today, Thursday, the media office of the Prime Minister confirmed that the rise in the exchange rate is temporary as a result of changing the mechanism by which the foreign currency sale window operates in the Central Bank, indicating that the financial situation of Iraq is at its best.

Friday Morning Iraq Economic News Highlights 12-16-22

Al-Sudani's office regarding the rise in the exchange rate: a temporary matter and Iraq's financial situation is in its best condition

Deputy: Parliament Is Unable To Deal With The High Price Of The Dollar

Economie 2022-12-15 | 14:20 Source: Alsumaria News 2,828 views Today, Thursday, a member of the House of Representatives, Mueen Al-Kazemi, confirmed that the House of Representatives is unable to deal with the high price of the dollar because this matter is within the competence of the government.

Al-Kazemi said, in an interview with the “After the Investigation” program broadcast by Al-Sumaria TV, that “there are measures by the US Treasury Department to control the movement of the dollar through the window of selling currency through the central bank to private banks,” explaining that “the central bank was selling 200 million Dollars per day for private banks under the pretext of buying goods from abroad, but what happens is that purchases do not exceed 40% only, while the rest is for financial speculation.

He added, "The government is obligated to deal with the high price of the dollar as it is the executive body," stressing that "the House of Representatives is unable to address the issue because the matter is in the hands of the government as it is the executive body by monitoring merchants and private banks who buy the dollar for 1470 dinars from the Central Bank under the pretext of buying goods.

The government must monitor the purchase of goods and the process of entering and storing them," noting that "the government is unable to monitor this process because it needs an efficient and impartial oversight apparatus, and this is not available."

Al-Kadhimi indicated, "The solution cannot be through reducing exchange only, but rather through encouraging the national industry, and there must be an industrial renaissance through the Youth Employment Law through small projects, for which the Central Bank allocated 6 trillion dinars."

He pointed out that "there are efforts being made to maintain the price of the dollar below 1,500 dinars," considering that "returning it to 1,250 dinars requires a deliberate political and economic aspect to reduce the price, because the rise harms the citizen and confuses the market." LINK

The Dollar Continues To Rise In The Iraqi Markets

Economie 16-12-2022 | 01:47 Source: Alsumaria News 5,611 views Alsumaria News publishes, today, Friday, the exchange rates of the dollar in the local markets.

The selling price of the dollar was 152,000 dinars per 100 dollars, while the buying price of the dollar was 151,900 dinars per 100 dollars.

The Yellow Metal Is Heading For A New Weekly Loss

Economie 16-12-2022 | 04:47 329 views Gold is known as a hedge against inflation, but high interest rates tend to weaken its attractiveness because it increases the opportunity cost of holding non-returnable metal.

Meanwhile, India raised the primary import price of gold and silver late Thursday evening. India is the world's largest importer of silver and the second largest importer of gold.

As for other precious metals, silver rose 0.2 percent to $ 23 an ounce, but it has so far recorded a decline of two percent for the week.

Platinum rose 0.6% to $1,000.54, and palladium rose 1.5% to $1,817.88, but was on track for its biggest weekly decline in two months. LINK

Al-Sudani Stresses The Importance Of Coordination Between Unions And The Government

Baghdad/ Today, Thursday, Prime Minister Mohamed Shia Al-Sudani stressed the importance of coordination between unions and the government, while noting that the educational sector receives great attention from the government.

The media office of the Prime Minister said in a statement, "Prime Minister Muhammad Shia' al-Sudani received, today, a delegation of the Iraqi Teachers Syndicate headed by the head of the Teachers Syndicate, Mr. which it encounters in its general course, and its efforts to improve the reality of teachers and their level of performance.

Al-Sudani praised "the great role played by unions and professional organizations, including the Iraqi Teachers Syndicate, and its professional and functional expertise in various specializations, which would help improve the level of job performance in general," stressing "the importance of coordination between unions and the government, in order to Supporting its ministerial curriculum and realizing its vision in the service fields, including the educational sector, which receives great attention from the government.

He stated that "the government is seeking to address the various problems it faces, including the crisis of school buildings in the capital, Baghdad, and the rest of the provinces, and its direction to take care of the class of teachers and teachers."

https://almawrid.news/contents/view/details?id=57819

After Approving The Budget.. Parliamentary Efforts To Host 4 Ministers And Discuss "Urgent Files"

Economy News – Baghdad On Thursday, the State of Law parliamentary bloc confirmed the existence of parliamentary efforts to host four ministers after approving the financial budget for the next year 2023.

The representative of the State of Law bloc, Aqil al-Fatlawi, said, "There are parliamentary efforts to host the ministers of planning, Muhammad Ali Tamim, the ministers of electricity, Ziyad Ali Fadel, the water materials, Aoun Diab, and the trade, Atheer Daoud Al-Ghariri, in the House of Representatives to discuss urgent files after the approval of the general budget 2023."

Al-Fatlawi added, in an interview with the official news agency, that "hosting ministers in parliament is a natural matter." Views 8 Added 12/15/2022 - 4:21 PM Updated 12/15/2022 - 4:33 PM

https://economy-news.net/content.php?id=31364

With A Value Of 3 Billion Dinars .. The Iraqi Financial Market Trades More Than Two Billion Shares

Thursday, December 15, 2022 4:06 PM Baghdad / National News Center The Iraq Stock Exchange announced today, Thursday, that it has traded during the current week more than two billion shares, with a financial value of more than 3 billion dinars.

The market said in a statement received by the National News Center that "the number of shares traded during this week amounted to more than two billion shares, while the value of shares traded this week amounted to more than (3) billion dinars."

The statement added, "The trading index in the market closed for the first session of the week at (576.58) points, while the index closed at the end of the week at (590.63) points, achieving an increase of (2.38%) from its closing at the beginning of the session."

And he explained that "more than (2800) buying and selling contracts were executed during the week on the shares of companies listed in the market." https://nnciraq.com/172541/

Deb Aspinwall 12/16/22 Deb Aspinwall 12/16/22

"Tidbits From TNT" Friday Morning 12-16-2022

TNT:

CandyKisses: Parliamentary Legal: An extraordinary session of Parliament if it receives the budget

{Politics: Al-Furat News} The Parliamentary Legal Committee suggested that an extraordinary session of the House of Representatives be held during its current legislative recess, if it received the 2023 budget bill from the government.

A member of the committee, Aref Al-Hamami, told Al-Furat News agency, "The budget law includes a set of paragraphs, including job grades for lecturers and graduates, contract confirmation, and a large number of job grades."

He added, "Until now, the price of a barrel of oil approved in the budget has not been announced."
Al-Hamami stressed that "the House of Representatives, despite entering its legislative recess, will hold the session for reading the budget law if a request is submitted to hold the session."

TNT:

CandyKisses: Parliamentary Legal: An extraordinary session of Parliament if it receives the budget

The Parliamentary Finance Committee had expected the cabinet to vote on the draft general financial budget bill for the year 2023 at the end of this month.

Committee member Mueen Al-Kadhimi said, "The total value in the draft budget law has risen to 222 trillion dinars, in response to the demands of the ministries and governorates," noting that raising the total value "needs to be amended by the Ministry of Finance to prepare the final draft of the draft law before sending it to the Council of Ministers." ".

On the 9th of December, the House of Representatives entered a legislative recess for a period of 30 days, provided that it will resume its sessions on the 9th of next January.

************

Tishwash: The central bank and banks urgent action to control the foreign currency market

Today, the Board of Directors of the Central Bank took an important decision to control the exchange rate, as the selling price of the dollar to the beneficiary (the bank’s customer) whose imports the bank finances with documentary credits was reduced to 1465 instead of 1470, as the Central Bank will sell the dollar to banks for the purposes of opening documentary credits by an amount of 1455 instead from 1460.

Immediately, the Association of Iraqi Private Banks issued a statement endorsing and supporting the Central Bank's procedures and called on all banks to work at the new rate and facilitate the access of merchants and businessmen from the bank's customers to obtain their needs of foreign currency.

It is no secret to the economic elites and citizens that the economic and political conditions and their repercussions negatively affect stability in the monetary system and the financial system, and thus this will lead to economic instability and confusion in the market, in addition to that, a few days ago, a new wave of criticism began from some media outlets affected by the rumors that it is launching and moving. Speculators in the currency exchange market with the aim of creating a state of confusion and instability and attempting to drag the money market into instability and thwarting the central bank’s plans to control the target rates of the exchange rate, which has remained stable since its adjustment to the new prices for finance, banks and the public.

The demo of the platform, as part of the foreign remittances was postponed, which resulted in a decrease in the sales volume of the foreign currency sale window, and among other rumors is that the central bank will make a new change to the current price.

Although the Central Bank has repeatedly announced that there is no intention to change the price at present and explained the negative effects of any change in the price on the national economy, commercial exchanges, and local and foreign banking dealings with countries of the world, and that the exchange rate is determined by the Central Bank according to the effects and repercussions of the economic reality

In a country like Iraq that suffers from Challenges, repercussions, economic and financial crises, and a structural and systemic imbalance in the management of the economy and money are not borne by the Central Bank alone because its role is clear, specific and independent. It is concentrated in stimulating the economy according to the tools and applications of monetary policy.

However, this cannot be achieved without joint coordination with fiscal policy and other economic sectors, activating the real economy and diversifying sources of income.

The national economy and leaving the unilateral economy depending on oil as a major resource that constitutes 93% of the general budget revenues and 60% of the gross domestic product.Supporting local production and operating the suspended factories, which number more than 140 government factories, and reducing dependence on imports.

Therefore, those who criticize the central bank must be aware of this and that the central bank's announced measures to increase the dollar supply through its regular outlets and banks and the new reduction will inevitably lead to the return of the price to its target rates, inevitably and quickly, and that the sudden rise yesterday has clear reasons, as indicated above.

************

Tishwash: Parliamentary efforts to host four ministers after approving the budget

Today, Thursday, the State of Law Parliamentary Bloc confirmed the existence of parliamentary efforts to host four ministers after approving the financial budget for the next year 2023.

The representative of the State of Law bloc, Aqil al-Fatlawi, told the Iraqi News Agency (INA), that "there is no interrogation of any minister in the government of Prime Minister Muhammad Shia' al-Sudani, at the present time, because they began their duties a short time ago," stressing that "no request has been received." representative by interrogating any minister or head of an authority.

Al-Fatlawi added, "There are parliamentary efforts to host the Ministers of Planning Muhammad Ali Tamim, Electricity Ziyad Ali Fadel, Water Resources Aoun Dhiab, and Trade Atheer Dawood Al-Ghurairy, in the House of Representatives to discuss urgent files after approving the 2023 general budget," pointing out that "hosting the ministers in Parliament is normal. link2

CandyKissses: SANTA IS CHECKING FACEBOOK

Mot: ...... and Even MORE Great Gift Ideas!! ~ from Mot of Course! ...

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Iraqi News Highlights Thursday Evening 12-15-22

Tlm724 Administrator Bondlady’s Corner

In The Document .. The Central Bank Decides To Reduce The Price Of The Dollar

Thursday 15 December 2022 14:15 | EconomicalNumber of readings: 333

Baghdad / NINA / - The Central Bank decided to reduce the exchange rate of the dollar to 1465 dinars per dollar./

Central Bank: The Federal Bank Imposed Strict Conditions And Restrictions On The Dollar Sale Process

Wednesday, December 14, 2022 10:01 PM Baghdad / National News Center Today, Wednesday, the Central Bank of Iraq clarified the mechanism of the auction for selling foreign currency in the current period, while the US Federal Bank confirmed the imposition of strict conditions and restrictions on the dollar sale process.

Iraqi News Highlights Thursday Evening 12-15-22

Tlm724 Administrator Bondlady’s Corner

In The Document .. The Central Bank Decides To Reduce The Price Of The Dollar

Thursday 15 December 2022 14:15 | EconomicalNumber of readings: 333

Baghdad / NINA / - The Central Bank decided to reduce the exchange rate of the dollar to 1465 dinars per dollar./ Ended 3 https://ninanews.com/Website/News/Details?key=1020506

Central Bank: The Federal Bank Imposed Strict Conditions And Restrictions On The Dollar Sale Process

The adviser to the Central Bank of Iraq, Ihsan Shamran al-Yasiri, said during a symposium at the Iraq Book Fair, which was followed by the National News Center, that “the currency sale window has a set of functions, the first of which is achieving stability in the exchange rate, and the second is meeting the requirements of foreign trade from companies, merchants, the economic sector and the public.”

He added, “The Iraqi commodity sector is unable to provide the requirements of the local market, which expanded the import,” explaining that “the Ministry of Finance sells to the Central Bank the dollar coming from the state’s imports, and the bank gives the finance the value of the dollar sold to it in Iraqi dinars to manage the requirements of the state’s work, and a sale window.”

Foreign currency is the only way to summon the Iraqi dinar from the market towards the state’s finances, and stopping the window will create a problem of the lack of a local currency to buy the dollar coming from Iraq’s imports, such as oil, and the window meets 87% of the commodity import requirements for Iraq.

And he warned that “stopping the sale of foreign currency will force us to print more national currency, which will increase the dinar issued for circulation per month, and this measure will force the bank to print the amount of salaries, which is estimated at 7 trillion dinars per month and reaches 100 trillion annually, and printing without a dollar amount will cause great damage to the economy.” ".

He explained that “less than 15% of the foreign currency sold in the Central Bank is demarcated as goods and passes through the customs authority, and more than 80% of the value of the sold is entered as imported materials that change their identity in customs and ports, and change during which imported materials are demarcated in a way other than their original form to reduce customs, for example For example, you enter alcoholic beverages or expensive goods and are painted as vegetables and fruits or children’s clothes in order to exempt them from taxes.”

Al-Yasiri pointed out that “there are unofficial outlets through which smuggled goods pass, either under the protection of people or enter in crooked ways, and it is assumed that 18 trillion dinars will enter the state treasury, the value of taxes and fees collected annually, and what is collected amounts to 3 trillion dinars only.”

And he stressed, "What enters Iraq as the value of imported goods must be parallel to the dollar sold from the window, and verifying that is in the hands of the customs and tax authorities."

And he continued, “The central bank has recently created a platform for the currency sale window to which authorized banks submit purchase requests in the name of people, and the names are considered over the course of a week, and the bank resolves its position a day before the date of the auction for selling the currency submitted for purchase in it after applying conditions that include people submitting requests to buy dollars to Licensed banks, and the type of commodity and the need to be purchased and details of the beneficiary are established.

The name of the seller and the name of the person requesting the purchase must be mentioned, and the name is entered in a global system called (OFAC) to indicate if it is required or has problems, as well as communication with the seller of the imported goods to verify its dealings With the person asking to buy the dollar,” pointing out that “on some days, the percentage of rejected requests reached 40% due to their non-conformity with the conditions.”

And he noted that “the US Federal Bank, for its part, has set strict conditions recently that oblige us to display lists of dollars sold on it that include the names of the people and beneficiaries, and it takes 15 days to state the Federal Bank’s position on the safety of the purchase process for the party submitting the request, and the sale process stops if the Federal Bank objects to it.” A specific name is required, or there is a similarity of names, or there is a suspicion of the purpose of buying the dollar.

He pointed out that “the Federal Bank is in the process of adding 3 oversight bodies to the sale of the dollar to check its destination after the sale, and they say that they are checking to prevent it from reaching terrorist or prohibited parties. Iraq by applying these standards to prevent a decision to stop the flow of dollars to Iraq because it will cause a catastrophe, and the sale of dollars in Iraq is subject to strict supervision by the US Federal Bank because it is the issuer of dollars.

And he pointed out that “the exchange rate of the dollar is more than 1,500 dinars, which we see as normal and reasonable based on what we mentioned of strict determinants, and there is no problem with the central bank in providing dollars for sale through the currency auction.”

And Al-Yasiri added, “The Ministry of Finance has an internal debt amounting to 69 trillion dinars, 44 trillion of which is for the central bank and 25 trillion for the banking sector.”

https://nnciraq.com/172411/

Parliamentary Demands To Form A Higher Committee To Investigate The Parties Behind The High Dollar Exchange Rate

Thursday 15 December 2022 14:07 | Economical Number of readings: 301

Baghdad / NINA / - The Parliamentary National Product Bloc called on the Ministerial Council of Economy to hold an emergency meeting to control the rise in the exchange rate of the dollar in the local market.

The head of the bloc, Representative Ibtisam Al-Hilali, said, in a press statement today, Thursday, that "the value of the Iraqi dinar has decreased significantly against the US dollar, and this requires holding an emergency session of the Ministerial Council of Economy to take a government decision to control the market, after the exchange rate of the dollar exceeded 1,500 dinars."

She added, "The rise in the exchange rate of the dollar from its real value caused a rise in food prices in the Iraqi markets, which affected the citizens and owners of daily sustenance," calling on the Prime Minister, Muhammad Shia'a al-Sudani, to form a higher committee that includes the governor of the central bank and the ministers of finance, planning, interior and trade, to investigate. With private banks and merchants to find out who is behind the rise in exchange rates.

https://ninanews.com/Website/News/Details?key=1020501

With Five Sessions For The Iraq Market..More Than Two Billion Shares Traded With More Than 3 Billion Dinars

Thursday 15 December 2022 16:35 | Economical Number of readings: 170 Baghdad / NINA /- The Iraq Stock Exchange announced, today, Thursday, trading indicators for the second week of December.

And the market stated in a statement that, during the second week of December 2022, it organized five trading sessions, from Sunday, corresponding to 11/12/2022, to Thursday, corresponding to 12/15/2022.

He added that the number of shares traded during this week amounted to more than one billion shares, with a value of more than (3) billion dinars.

He explained: The trading index in the market for the first session of the week closed at (576.58) points, while the index closed at the end of the week at (590.63) points, achieving an increase of (2.38%) from its closing at the beginning of the session.

And he continued: that during the week, more than (2800) buying and selling contracts were executed on the shares of companies listed in the market./ https://ninanews.com/Website/News/Details?key=1020533

Abdul Ghani: The Government Is Keen To Accelerate The Implementation Of Oil And Gas Investment Projects

Energy Economy News – Baghdad Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdel-Ghani affirmed, on Wednesday, the government's keenness to accelerate the implementation of energy and water resources projects.

A statement by the ministry said, "The Minister of Oil chaired the second meeting of the Ministerial Council for Energy and affirmed the keenness of the government and the Energy Ministerial Council to accelerate the implementation of vital and strategic projects for the oil sectors and the investment of gas, electricity and water resources, in implementation of the axes of the government program."

The statement added that "the meeting discussed the issues and files included in the council's agenda, and took the appropriate decisions in this regard."

Views 35 Added 12/15/2022 - 6:27 PM Updated 12/15/2022 - 7:30 PM

https://economy-news.net/content.php?id=31365

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

https://www.bondladyscorner.com/

DINARRECAPS8 12/15/22 DINARRECAPS8 12/15/22

Iraqi News Highlights Thursday Afternoon 12-15-22

Tlm724 Administrator Bondlady’s Corner

The Central Bank Issues An Explanation Regarding The High Exchange Rate Of The Dollar

local| 02:27 - 12/15/2022 Baghdad - Mawazine News Today, Thursday, the Central Bank issued an explanation regarding the rise in the exchange rate of the dollar, while indicating that the rise is due to several factors, including building an electronic platform through which banks raise the requests of their customers.

Iraqi News Highlights Thursday Afternoon 12-15-22

Tlm724 Administrator Bondlady’s Corner

The Central Bank Issues An Explanation Regarding The High Exchange Rate Of The Dollar

The central bank said in a statement, a copy of which Mawazine News received, that "the slight rise witnessed by the exchange rate of the dollar in the local markets during the previous days is due to some factors, including the building of an electronic platform through which banks raise the requests of their customers,"

noting that it "started since It was famous for building that platform in coordination with international bodies for the purpose of ruling and organizing the operations of the buying and selling window of foreign currency and ensuring effective control over it, as a specialized international company was assigned to build it and link banks with the Central Bank through it.

He added, "The platform requires providing information about customers requesting transfers, beneficiaries, correspondent banks, etc.," explaining that "due to the recent use of this platform, many errors are being discovered, which requires the bank to re-upload them, and these procedures take additional time to accept the request and pass it through the financial system." Global".

He stressed that "the reserves and financial solvency of the state in general are in excellent condition and at their best levels in decades," pointing out that "the current supply of foreign currency is not linked to resources, but rather to administrative and auditing procedures, which will be bypassed in the coming days in addition to that."

He pointed out, "It has taken a number of measures to expand the supply of foreign exchange to meet the public's demand for cash dollars," stressing, "directing the management of the window to meet the requests of banks for the coming days faster by executing double requests, and a preferential price was given for the implementation of documentary credits, and for the purpose of covering the local demand." 29/AD 99 https://www.mawazin.net/Details.aspx?jimare=214216

Iraq And Jordan Discuss The Development Of Economic Cooperation Between The Two Countries

Political | 04:09 - 12/15/2022 Baghdad - Mawazine News Today, Thursday, Prime Minister Muhammad Shia Al-Sudani discussed with a Jordanian government delegation the development of industrial and economic cooperation with Iraq.

A statement by the Prime Minister's Media Office, of which Mawazine News received a copy, stated: "The Sudanese received the delegation, which included the Minister of Industry and Trade, Youssef Mahmoud Al-Shamali, and the Minister of Energy and Mineral Resources, Saleh Ali Al-Kharabsha. During the meeting, they discussed the development of cooperation between Iraq and Jordan in the fields of industry and economic partnership." .

He added, "The meeting dealt with ways to develop bilateral integration in a way that enhances the ability of the two brotherly countries to face global economic challenges and crises and their local and regional impacts," noting that "the meeting was attended by Minister of Industry and Minerals Khaled Battal Al-Najm." https://www.mawazin.net/Details.aspx?jimare=214224

Parliamentary Efforts To Host Four Ministers.. Will They Be Interrogated?

Political | 03:09 - 12/15/2022 Baghdad - Mawazine News , the Parliamentary State of Law bloc confirmed, on Thursday, the existence of parliamentary efforts to host four ministers after approving the financial budget for the next year 2023.

Aqil al-Fatlawi, a representative of the State of Law bloc, said, “There is no interrogation of any minister in the government of Prime Minister Muhammad Shia’ al-Sudani.” At the present time, since they began their duties a short time ago,” stressing that “there has been no parliamentary request to interrogate any minister or head of an authority.”

https://www.mawazin.net/Details.aspx?jimare=214219

The World Bank Proposes 3 Solutions To Reduce Oil And Gas Emissions In Iraq

Economie| 12:58 - 12/15/2022 Baghdad - Mawazine News The representative of the World Bank, Richard Abdel Nour, confirmed, on Thursday, that Iraq is the second country in the world in terms of gas combustion, while proposing solutions to reduce oil emissions and gas combustion.

Abdel Nour said, "The report on climate change and development in Iraq indicated that Iraq is one of the countries affected by climate change, high temperatures, and low water resources on which the country depends, not only for drinking purposes, but also in the economic, agricultural and food security aspects," according to the news agency. official.

He added, "Iraq has large and important oil resources and therefore has carbon emissions at a high level, and there are great solutions to reduce emissions in the oil and gas combustion side," noting that "Iraq is the second country in the world that has a high rate of gas combustion."

He explained, "The solutions include benefiting from gas in the production of electricity, creating job opportunities, as well as using renewable and clean energy," pointing out that "there are great opportunities in Iraq to develop this sector, which will lead to lower emissions and create the growth of a non-oil sector that is important to the Iraqi economy." . Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=214209

An Iraqi Governorate Begins Implementing The Government Program

Economie| 01:54 - 12/15/2022 Baghdad - Mawazine News The Governor of Kirkuk, Rakan Saeed Al-Jubouri, announced, on Thursday, the start of implementing the government program voted for, while he issued directives regarding the province's share in the 2023 budget

. Al-Jubouri said, in an interview with the official news agency and its follow-up / Mawazine News /, that "the local government works from In order to provide the best services to citizens, this is achieved by providing financial support to the concerned departments, which has been worked on by approaching the Ministries of Planning and Finance in addition to the Ministry of Construction, Housing, Municipalities and Public Works to provide the necessary support.

He added, "Government departments have been instructed to implement the Prime Minister's directives to ensure the success of implementing the government program," pointing to "the direct implementation of the government program and adherence to the directives of the Prime Minister, Muhammad Shia' al-Sudani, while chairing an extraordinary meeting of the heads of service departments in Kirkuk hours after holding The Council of Ministers held an extraordinary session and voted on the government program.

And he continued, "The Prime Minister's directives regarding the government program represent the future vision to support the efforts of the federal government and its positive impact on supporting and developing the work of the governorate, through plans for the next stage."

And he stated, "The work of the departments will be evaluated in light of the government's program, and performance will be evaluated according to what has been implemented on the basis of the government program, in light of the implementation of the government program and their commitment to its main axes and priorities."

He pointed out that "the food security projects that have been launched will witness a new stage of upgrading construction and services, and the governorate will witness the implementation of hospitals in the districts of Daquq and Dibis and between the districts of Abbasi and Zab, in addition to projects to expand and develop roads with districts and districts, and support the electricity, health, water, education, university, state institutions and road projects." In the districts and sub-districts, youth and sports projects, completing Kirkuk municipality projects, and supporting the cleaning file, in addition to assigning and supporting the security forces, as they are among the priorities of the administration.

And the governor continued: "We directed all departments to submit their proposals to study and discuss the budget for the year 2023, in a way that secures the best services and contributes to advancing the reconstruction movement in the province and securing job opportunities for the citizens of Kirkuk, and despite the challenges, our one team has achieved achievements after planning, implementation and follow-up, and here is the image of Kirkuk that is thriving." Everybody's effort goes forward." https://www.mawazin.net/Details.aspx?jimare=214213

Low oil prices

Economie| 09:08 - 12/15/2022 Follow-up - Mawazine News Oil prices fell on Thursday, amid rising US inventories, as traders were optimistic about the demand outlook in China.

By 04:21 GMT, Brent crude futures fell 67 cents to $82.03 a barrel, while US crude futures fell 76 cents to $76.52.

US crude oil inventories rose by more than 10 million barrels last week, the most since March 2021, supported by emissions from the Strategic Petroleum Reserve and refinery cuts.

On the other hand, the market strengthened the expectations of the International Energy Agency, which believes that Chinese demand for oil will recover next year after a contraction of 400 thousand barrels per day in 2022.

The agency raised its estimate of oil demand growth in 2023 to 1.7 million barrels per day, with a total of 101.6 million barrels per day.

The data shows that China's land and air traffic rebounded sharply last month.

Oil prices also received support from the outage of TC Energy's Keystone pipeline (TRP.TO), which normally ships 620,000 barrels per day of Canadian crude to the United States. Ended 29/m99

https://www.mawazin.net/Details.aspx?jimare=214191

A New Rise In The Exchange Rate Of The Dollar

Economie| 10:12 - 12/15/2022 Baghdad - Mawazine News The exchange rates of the dollar rose today, Thursday, on the local stock exchange. Selling price: 152,000 dinars per 100 dollars

Buying price: 151,900 dinars per 100 dollars https://www.mawazin.net/Details.aspx?jimare=214198

The Central Bank And Banks Urgent Action To Control The Foreign Currency Market

Sameer Al-Nusairi Today, the Board of Directors of the Central Bank took an important decision to control the exchange rate, as the selling price of the dollar to the beneficiary (the bank’s customer) whose imports the bank finances with documentary credits was reduced to 1465 instead of 1470, as the Central Bank will sell the dollar to banks for the purposes of opening documentary credits by an amount of 1455 instead from 1460.

in addition to that, a few days ago, a new wave of criticism began from some media outlets affected by the rumors that it is launching and moving. Speculators in the currency exchange market with the aim of creating a state of confusion and instability and attempting to drag the money market into instability and thwarting the central bank’s plans to control the target rates of the exchange rate, which has remained stable since its adjustment to the new prices for finance, banks and the public.

Speculators have taken advantage of the decline in dollar sales in a window Selling foreign currency, which the Central Bank clarified in a clear statement that the reason is the application of a new electronic platform to control external transfers similar to the letters of guarantee platform currently implemented, and given the insufficient readiness of local banks with the start of the applicationThe demo of the platform, as part of the foreign remittances was postponed, which resulted in a decrease in the sales volume of the foreign currency sale window, and among other rumors is that the central bank will make a new change to the current price.

and that the exchange rate is determined by the Central Bank according to the effects and repercussions of the economic reality in a country like Iraq that suffers from Challenges, repercussions, economic and financial crises, and a structural and systemic imbalance in the management of the economy and money are not borne by the Central Bank alone because its role is clear, specific and independent.

It is concentrated in stimulating the economy according to the tools and applications of monetary policy. However, this cannot be achieved without joint coordination with fiscal policy and other economic sectors, activating the real economy and diversifying sources of income.

Views 158 Added 12/15/2022 - 4:04 PM Updated 12/15/2022 - 7:27 PM

https://economy-news.net/content.php?id=31362

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

https://www.bondladyscorner.com/

Deb Aspinwall 12/15/22 Deb Aspinwall 12/15/22

KTFA Members "Vietnam and Iraq News" Thursday 12-15-2022

KTFA:

Henig: Vietnam poised for record trade

By Anh Tu December 14, 2022 | 07:11 pm PT

Vietnam’s foreign trade is set to exceed US$700 billion this year, the highest ever, the customs department said.

It has risen steadily from $500 billion in 2020 and $600 billion last year.

In the first 11 months exports rose by 13.4% from a year earlier to $342.2 billion, and imports were up 10% to $331.6 billion, resulting in a surplus of $10.6 billion.

Exports to the U.S. alone, the largest export market, were worth $101.5 billion. Imports from China, the country’s biggest source, topped $109.9 billion.

KTFA:

Henig: Vietnam poised for record trade

By Anh Tu December 14, 2022 | 07:11 pm PT

Vietnam’s foreign trade is set to exceed US$700 billion this year, the highest ever, the customs department said.

It has risen steadily from $500 billion in 2020 and $600 billion last year.

In the first 11 months exports rose by 13.4% from a year earlier to $342.2 billion, and imports were up 10% to $331.6 billion, resulting in a surplus of $10.6 billion.

Exports to the U.S. alone, the largest export market, were worth $101.5 billion. Imports from China, the country’s biggest source, topped $109.9 billion.

According to the General Department of Vietnam Customs, the country’s global import-export ranking will go up this year.

In 2021 the World Trade Organization had ranked Vietnam 23rd in terms of exports and 20th in imports.

In the 10-member ASEAN, Vietnam ranked second behind only Singapore. LINK

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Henig: ADB ups Vietnam growth forecast to 7.5%

By Duc Minh December 14, 2022 | 07:56 am PT

The Asian Development Bank (ADB) has lifted its growth forecast for Vietnam for this year from 6.5% to 7.5%.

Inflation is projected to be at 3.5%, down 0.3 percentage points from its earlier estimate in September.

Vietnam’s economy is operating well amid instabilities but is facing rising risks.

Global demand for Vietnamese exports is weakening, and for this reason the bank lowered its growth forecast for the country for next year to 6.3%.

The World Bank also warned Vietnam of slowing exports in a report released Wednesday.

Last month, exports fell for the first time since October last year. Exports declined by 8.4% year-on-year and imports fell by 7.2%, it added.

The World Bank said that the fall in exports was broad based. The decline was partly due to weakening external demand but also reflected high-base effects as both registered exceptional growth rates in November 2021 due to the reopening of the economy after months of lockdown.

All major import products experienced sharp declines compared to a year earlier, except for imports of fuel, which increased by 61.7% year-on-year in November 2022. LINK

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Henig: The Korea-Vietnam Economic Cooperation Forum 2022

NEWS PROVIDED BY Korea Herald

Dec 14, 2022, 21:15 ET

SEOUL, South Korea, Dec. 14, 2022 /PRNewswire/ -- The Korea-Vietnam Economic Cooperation Forum 2022 is hosting a series of special speeches and panel discussions on Dec. 16 from 1 p.m. to 6 p.m. at Grand Ballroom, InterContinental Hanoi Landmark72 in Hanoi, Vietnam. The event is co-hosted by Herald Corp., publisher of The Korea Herald and Herald Business, the Korea International Trade Association, the Vietnam Chamber of Commerce and Industry, and the Vietnam-Korea Friendship Association.

The event will be held under the tagline of "Great Together, Next Prosperity 100!" aimed at discussing shared prosperity of Korea and Vietnam of the coming century that could be building on top of the 30 years of economic ties.

The Korea-Vietnam Economic Cooperation Forum 2022 expects to host more than 500 participants from political and business circles in Korea and Vietnam, including Rep. Kim Tae-nyeon of the Democratic Party, who heads Korea-Vietnam Parliamentary Friendship Group; North Chungcheong Province Gov. Kim Young-hwan; North Gyeongsang Province Gov. Lee Cheol-woo; Korean Ambassador to Vietnam Oh Young-ju; Hanoi Mayor Tran Sy Thanh; Tran Duy Dong, deputy minister of Planning and Investment of Vietnam; and Ngo Dong Hai, secretary of the Thai Binh Provincial Party Committee.

The forum comes against the backdrop of a strong partnership that Korea and Vietnam has built over the course of three decades since they established the economic ties in December 1992. Korea's trade volume with Vietnam rose 162-fold from $493 million in 1992 to $80.7 billion until 2021. Economic and cultural exchanges in both public and private sectors are thriving, as Vietnam designated the Korean language as one of the major foreign-language electives in 2021.

The event will also invoke discussions over ways to nurture new business opportunities at multiple angles, as Korea and Vietnam are stepping up its bilateral efforts by elevating their ties to comprehensive strategic partnership.

A keynote speech under the theme, "Taking Korea-Vietnam economic ties to the next level" will be delivered by Jeong Man-ki, vice chairman of the Korea International Trade Association. This will be succeeded by a special speech of Thai Binh Provincial Party Committee Secretary Ngo Dong Hai, which will revolve around ways for direct economic cooperation between provincial governments of Korea and Vietnam. Also delivering special speeches are governors of Korean provinces over blueprints for enhanced cooperation with Vietnamese counterparts, involving a nature-based tourism development project by North Chungcheong Province and a metaverse push to attract hallyu fans by North Gyeongsang Province.

Other notable speakers at the panel discussions are thought-leaders such as Choi Joo-ho, president of Samsung Vietnam; Bui Quang Tuan, director general of the Vietnam Institute of Economics; Han Seung, head of overseas development group at Daewoo E&C; Kim Chun-jin, president of the Korea Agro-Fisheries and Food Trade Corp.; and Cho Bong-hyun, vice president of Industrial Bank of Korea.

"Korea and Vietnam is ready to open the new era together based on the strong friendship and trust built over the past 30 years. The forum will lay the basis for the joint prosperity and invite intriguing ideas to outrun competitors in the global power rivalry," The Korea Herald Chief Executive Officer Choi Jin-young said.

The forum will be followed by a networking event. Hosted by Vu Tien Loc, president of Vietnam-Korea Friendship Association, the night event will also feature a Vietnamese traditional folk performance and performance by Korean-Vietnamese singer Hari Won and Korean singer Lee Sun-hee. LINK

Clare: Valid appearance: the rise in the price of the dollar is my time and will soon fall

December 14, 2022 Information / special.

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, considered the rise in dollar exchange rates a "temporary phenomenon" and not a problem with the adequacy of foreign reserves, while stressing that the new measures had imposed a restriction or discipline on the supply of foreign currency.

Saleh said in an interview with Al-Maalouma Agency, "The rise in the exchange rate in favor of the dollar is not caused by a problem with the adequacy of foreign reserves, as it is a force to intervene in the exchange market and provide sufficient supply to meet the demand for foreign exchange."

He added, "The rises that occurred are a temporary phenomenon dictated by regulatory conditions in the procedures for conducting external transfer requests (submitted by local banks) on foreign currency," noting that "work was done a while ago with an advanced (electronic) platform linking the transfer request by banks." with correspondents from international banks and relevant global compliance bodies simultaneously.

Al-Sudani's economic advisor explained: "During the start of the experiment a few weeks ago, it became clear that there were shortcomings and informational shortcomings that were not consistent with the governance of the flow of transfers through the global banking system, which led to some of them being returned again or rejected in order to complete the standard submission requirements and follow the standard principles in disclosing the final beneficiary and other things." Banking Disclosure and Compliance Requirements.

And Mazhar indicated, "It takes some time to reorganize the requests and their consistency with the global requirements for transfer through the digital platform, which has come to represent the new tool in dealing with the window of the Central Bank of Iraq for buying and selling foreign currency."

Earlier in the day, the exchange rates of the dollar recorded an unprecedented rise when the 100 US dollars reached more than 152,000 Iraqi dinars, which angered the Iraqi people who were hoping for the return of dollar prices to their previous state. LINK

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Clare: Press Statement

December 15, 2022

An authorized source in the Central Bank of Iraq explained that the slight rise witnessed by the exchange rate of the dollar in the local markets during the previous days is due to some factors, including the building of an electronic platform through which banks raise the requests of their customers.

The Central Bank began building that platform months ago in coordination with international bodies for the purpose Provisions and regulation of the operations of the foreign currency buying and selling window and ensuring effective control over it, as a specialized international company was assigned to build it and link banks with the central bank through it. The platform requires information about customers requesting transfers, beneficiaries, correspondent banks, etc.

Due to the recent use of this platform, many errors are being discovered, which requires the bank to re-download it. These procedures take additional time to accept the request and pass it through the global financial system. In this regard, the reserves of the Central Bank and the financial solvency of the state in general are in excellent condition and at their best levels in decades, and that the current supply of foreign currency is not linked to resources but to administrative and audit procedures, which will be bypassed during the coming days.

In addition, the Central Bank has taken a number of measures to expand Offer foreign exchange to meet the public’s demand for cash dollars, and the management of the window was directed to meet the requests of banks for the coming days faster by executing double requests, and a preferential price was given for the implementation of documentary credits, and for the purpose of covering the local demand.

Central Bank of Iraq Media Office

https://cbi.iq/news/view/2175