"Vietnam and Iraq News" Posted by Henig at KTFA 12-25-2022

KTFA:

Henig:  Al-Sudani stresses keenness to achieve economic integration with neighboring countries and the region

12/24/2022

{Local: Al Furat News} Prime Minister Muhammad Shia Al-Sudani affirmed today, Saturday, keenness to achieve economic integration with neighboring countries and the region.

A statement from his office, of which {Euphrates News} received a copy, stated that: “Al-Sudani received a delegation of journalists and media workers from various Egyptian media outlets, headed by the President of the Supreme Council for Media Regulation, the Egyptian Minister of Information, Karam Kamel Ibrahim, in the presence of the President of the Media and Communications Authority, and the President of the Union of Arab Journalists. Iraqi Journalists Syndicate.

The head of the Egyptian delegation, according to the statement, conveyed the greetings of Egyptian President Abdel Fattah El-Sisi to the Prime Minister, and also congratulated Al-Sudani on the occasion of forming the government and assuming his duties as Prime Minister.

Al-Sudani welcomed the "Egyptian media delegation," calling on them to "visit the Basra governorate and see the ongoing preparations for the Basra Gulf Championship 25, which will start on the sixth of next January."

He stressed, "Iraq went through difficult circumstances that it was able to overcome, and its children have stories of sacrifice in the war against ISIS that dazzled the world." and everything that enhances the security of the region.

Al-Sudani also stressed "the keenness to achieve economic integration with neighboring countries and the region, in the path of achieving development and prosperity for the Iraqi people, and the brotherly and friendly peoples."   LINK

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Henig:  Exchanging dollars in banks is a practical approach to achieve stability in the exchange market, says PM advisor

Baghdad-INA

The financial advisor to the Prime Minister, Mudhar Muhammad Salih, confirmed on Saturday, that applying the mechanism for selling dollars in banks is a correct practical approach to achieving stability in the exchange market, pointing out that the monetary policy of the Central Bank of Iraq-CBI continues to provide options as well to achieve this goal.
 
"The new procedures in providing wide and multiple official outlets for exchanging dollar cash through the government banking system, with an increase in the allocation for one person to 5 thousand instead of 3 thousand dollars, up to 10 thousand dollars, represent a correct option to achieve stability in the exchange market," Saleh told the Iraqi News Agency (INA).
 
He added, "The followed procedures provide the cash dollar through available, fair and equal opportunities for the beneficiaries, and make it available directly to the groups that need it for the purposes of travel and treatment outside the country."
 
Salih pointed out that "This trend in the exchange market is a positive expansion in transforming the dollar cash market into a flexible market that enjoys a high degree of competitiveness, governance, and discipline at the same time," noting that "the monetary policy of CBI is a constant and continuous policy in providing other additional options for foreign currency supply, which will contribute continuously to the stability of the exchange market.
 
He also affirmed that "This move ensures at the same time maintaining the stability of the general level of prices, which is the ultimate goal of monetary policy in the country."   LINK

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Henig:  Basra crude records weekly gains of about 3%

Baghdad / NINA /- Basra crude closed with a weekly gain of about 3%, similar to other crude oil, which also recorded gains.

Basra Heavy crude closed in its last session on Friday, down by 45 cents, to reach $71.79, but it recorded a weekly gain of $2.03, equivalent to 2.91%.

While Brent crude closed in the last session on Friday, up by $2.94, to reach $83.92, and recorded significant gains amounting to $4.88, equivalent to 6.17%.

West Texas Intermediate (WTI) crude closed in its last session up by $2.07, to reach $79.65 a barrel, and recorded a weekly gain of $5.36, equivalent to 7.21%.

Oil prices rose yesterday, Friday, with the recovery of demand in China and with Russia's threats to reduce its production by 700 thousand barrels, after setting its oil prices by the European Union and America.  LINK

Vietnam

Henig:  Rural products fall short of potential

10:00 | 24/12/2022

(VEN) - Outstanding rural industrial products have been honored for 10 years throughout Vietnam, boosting rural industrial development. However, several problems need to be addressed to improve the products’ promotion.

Vu Hy Thieu, an experienced member of the national council for honoring outstanding rural industrial products, assessed that poor design remains a major weakness of outstanding rural industrial products, especially fine art and handicraft articles, as most rural producers do not have professional designers and rely on their skilled artisans and workers. They need to study market needs and design trends in order to build product development orientations, as well as renovate technology and equipment in order to better and expand production.

Sharing Thieu’s assessment, many other members of the council said some of the rural industrial manufacturers applying to have their products recognized and certified do not meet the criteria on production scale, capital investment and market.

Many applications are for poor quality products, mostly focused on processed farm produce, forest products and seafood. The participation of equipment, machinery, mechanical tools and spare parts, and fine art and handicraft articles, remains incommensurate with their potential.

The problems negatively impact the recognition of outstanding rural industrial products.

Experts say manufacturers of national and regional-level outstanding rural industrial products must be supported in developing production and strengthening trade promotion, and policies are required for development of industry and trade promotion, rural industry and small and medium-sized enterprises.

Bui Viet   LINK

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Henig:  PV Power cements position as second-largest electricity producer

December, 24/2022

Speaking at the ceremony, Minister of Industry and Trade Nguyễn Hồng Diên said PV Power had risen steadily to become the second-largest power supplier in Việt Nam, after Việt Nam Electricity (EVN) and the biggest gas-electricity producer, confirming its important position in Việt Nam’s energy map.

HÀ NỘI — The Petrovietnam Power Corporation (PV Power) yesterday celebrated 15 years since its establishment, confirming its position as a leading electricity producer in Việt Nam.

Speaking at the ceremony, Minister of Industry and Trade Nguyễn Hồng Diên said PV Power had risen steadily to become the second-largest power supplier in Việt Nam, after Việt Nam Electricity (EVN) and the biggest gas-electricity producer, confirming its important position in Việt Nam’s energy map.

The company has produced more than 240 billion kWh of electricity in the past 15 years, contributing to ensuring national energy security and the country’s economic development, Diên said.

The firm earned more than VNĐ350 trillion (US$14.8 billion) in revenue, with profits of over VNĐ25 trillion during the period. In addition, it has paid more than VNĐ16 trillion to the State budget.

The firm has operated seven power plants with a total capacity of 4,209 MW. Its total assets increased 12-fold to VNĐ56.5 trillion ($2.36 billion) from only VNĐ4.78 trillion in 2007 when it was established, with the owner’s equity exceeding VNĐ32 trillion.

Minister Diên said the power industry is facing significant challenges in the new era when it must both ensure energy supply for the fast-growing economy and transform to more eco-friendly products to help realise Việt Nam’s COP26 commitments.

He asked PV Power to take advantage of gas-fuelled power to continue the development of LNG power projects, including Nhơn Trạch 3 and 4, which have combined designed capacity of 1,600MW using the state-of-the-art technologies, along with Quảng Ninh LNG with an expected capacity of 1,500MW. Besides, PV Power needs to apply advanced technology to switch to less-carbon energy production while expanding investment in renewable energy projects.

PV Power’s General Director Lê Như Linh confirmed the firm would focus on transitioning to green energy and environmental protection.

By 2035, the firm’s total capacity is expected to reach 5,760-9,560MW, supplying 30-47 billion kWh to the market each year, with a growth rate of 3-4 per cent annually.

The first unit to make IPO

PV Power was also the first unit in the electricity sector to conduct an IPO in Việt Nam successfully.

The stock code POW has continuously led in liquidity among power trading companies on the Hồ Chí Minh Stock Exchange. The share has been in the Top 50 Best Listed Companies for three consecutive years by Forbes magazine, and the credit rating ranked BB with a positive outlook by Fitch Ratings for the past two years.

At the ceremony, PV Power received the Second-class Labour Order from Vice President of Việt Nam Võ Thị Ánh Xuân for its contribution to the country’s economic development. — VNS   LINK

"Tidbits From TNT" Sunday 12-25-2022

TNT:

CandyKisses:  Gold prices rise in Baghdad markets and stabilize in the Kurdistan Region

Shafaq News / Gold prices "foreign and Iraqi" rose in the local markets in the capital, Baghdad, while it stabilized in the markets of Erbil, the capital of the Kurdistan Region, on Sunday, (December 25, 2022).

The correspondent of the agency Shafaq News, that gold prices in the wholesale markets in River Street in the capital Baghdad recorded this morning, the sale price per weight carat 21 of gold Gulf, Turkish and European 385 thousand dinars, and the purchase price 381 thousand dinars, while the selling prices for yesterday, Saturday, 382 thousand dinars per weight.

Our correspondent pointed out that the sale price of one 21-carat weight of Iraqi gold also rose at 355 thousand dinars, and the purchase price reached 351 thousand.

With regard to gold prices in goldsmiths' shops, the sale price of the Gulf gold weight 21 carat ranges between 385 thousand dinars and 395 thousand, while the sale price of the Iraqi gold weight ranged between 355 thousand and 365 thousand dinars.

As for gold prices in Erbil, they have witnessed stability, as the sale price of 24-carat gold weight sold 445 thousand dinars, and recorded 22-carat sale of 410 thousand dinars, and recorded 21-carat sale of 395 thousand dinars, while 18-carat sold 340 thousand dinars.

It is equal to one weight of gold (five grams).

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CharlieOK:  Hmmm. Just read an article stating that Iraq is selling US dollars for other currencies, primarily dinar. Now, why in the world would Iraq give up US dollars for worthless Iraqi dinar? Is it because Iraq thinks the currency is going to stay worthless for another half decade or so? I think not,

Yada:  Agreed CharlieOK. The process of buying the dollar as well as the other currencies,,,,,will give the dinar momentum because they have to use dinar to purchase the other currencies.

CharlieOK:  Iraq's economy has been running on US dollars and they are now selling dollars for other currencies, but primarily dinar. This has to be good news,

Yada:  Exact CharlieOK. The using of dinar for the purchases creates a demand on the dinar internationally. Pushing toward a float and increasing the value of the dinar.

Red: This is like watching a worm hatch inside a cacoon, with every twitch a guru will call the butterfly, dont be overly concerned folks you will recognise the butterfly when it appears.... just sayin

CharlieOK:  Red: I do not recall any emphasis, ever, from news sources that Iraq was bailing out of the dollar until recently. When things don't make sense, many times that is when they make the most sense,  That being said, it still ultimately makes NO difference because the US/UN is going to ultimately have to pull the trigger. Iraq has tried to do that on their own but, alas, to no avail.

BamaGuy:  Merry Christmas to all, May the reason we celebrate Christmas be remembered by all and his grace touch everyone everyday. My father told me to treat and respect others as I wanted them to do to me. Trusting and Believing works. Remember do not judge anyone until you have walked in their shoes. May you live in God's love and accept his blessing everyday.

CandyKisses:  There is nothing more magical than decorated trees, lights, presents, family and friends, to brighten up your life. May the magic and joy of Christmas fill your heart all year long. I wish all of you a Merry and blessed Christmas.

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CandyKisses:  The dollar crushes the dinar. Government justifications and promises to wish citizens amid a worsening crisis

Baghdad Today – Baghdad

The US dollar crushed the Iraqi dinar with an unexpected rise as a result of timid financial and monetary measures that do not rise and the economic crisis suffered by the people, to bounce back on the purchasing value of the dinar and the high prices, at the same time the government is still speaking the language of the future with the absence of the present as a result of accumulated errors and failed procedures in the past.

Mazhar Mohammed Saleh, an economic adviser to the Iraqi government, talks about the government's determination through the monetary authority to stabilize the exchange rate in the next few days.

Saleh told Baghdad Today that "there is real and serious work by the monetary authority to stabilize the exchange rate during the next few days, and this work is by granting advantages to external transfer requests that are made through the traditional means adopted in financing foreign trade."

He stressed that "official reserves are at their highest historical levels, which are approaching $ 100 billion, and the current rise, as we said earlier, is my time, and work is continuing to control the rise and make the exchange rate stable as it was before."

The exchange rate of the dollar against the dinar witnessed, on Sunday, a big jump, as the exchange rate of 100 US dollars reached 154.500 Iraqis, with a difference of up to about 5,000 dinars within days.

The Iraqi market is witnessing a record rise in the price levels of food and consumer goods from less than a month ago, which has resulted in a significant decline in purchasing power.

Citizens complained that the new wave of high prices negatively affected their living conditions, and wholesale markets are almost empty of buyers, which traders and economists see as linked to the rise in the dollar exchange rate in parallel (black) markets.

The Federation of Chambers of Commerce in Iraq revealed that traders are facing major problems due to the government's measures and the Central Bank's monetary policy controlling the currency rate in the Iraqi market.

In turn, the Central Bank of Iraq justified, in a statement, the rise in the dollar exchange rate in the local markets during the past days due to some technical factors, including the construction of a modern electronic platform through which banks raise their customers' requests to buy dollars.

The bank explained that it has been building this platform for months in coordination with international bodies for the purpose of tightening and regulating the operations of the sale and purchase of foreign currency and ensuring the effectiveness of control over it, by assigning a specialized international company to build it and linking banks with the Central Bank through it, and the platform requires providing information about customers requesting transfer, beneficiaries and correspondent banks.

The bank revealed that there are many errors discovered through the operation of the platform, which requires the bank to re-download it, and these procedures take additional time to accept the application and pass it through the global financial system.

For its part, the government affirmed 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.

According to a statement issued by the Prime Minister's Information Office, the current rise in the dollar exchange rate is temporary, and the necessary treatments will be carried out, especially since Iraq's financial situation is at its best.

The government called on all dealers, including investors and traders, to cooperate with official banks and the Central Bank by working in accordance with global trade contexts, and importing.

According to documentary credits, as they provide a guarantee to the importer, preserve his rights, insure the imported goods, and enable him to benefit from banking facilities to cover the value of the credit.

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CandyKisses:  Dollar breaks record against dinar on Erbil and Sulaymaniyah stock exchanges

Baghdad – Nas  

On Sunday afternoon, dollar exchange rates on the Erbil and Sulaymaniyah stock exchanges saw a new high.    

According to specialists' monitoring, the exchange rate in Sulaymaniyah reached 154,900 dinars per 100 dollars, while the exchange rate in Erbil reached 155,000 dinars per 100 dollars.  

The exchange rates on the Iraqi Stock Exchange this morning were as follows:  

Baghdad - Bursa Alkifah   154,000      

-—-——————————    

Erbil - Price on the stock exchange   153,500    

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Basra - Price on the stock exchange   153,350    

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Sulaymaniyah - Price on the stock exchange   153,550

CandyKisses:  WE ALL KNOW THAT ONE HOUSE ON THE BLOCK

Mot: ... So Great to Have Family Over.. HUh!! ~~~~

Sunday Morning Iraq News Highlights 12-25-22

Sunday Morning Iraq News Highlights 12-25-22

The Exchange Rates Of The Us Dollar Jumped Against The Iraqi Dinar, Minutes After Its Opening On The Main Stock Exchange In Baghdad And Kurdistan

The exchange rates of the US dollar against the Iraqi dinar jumped minutes after its opening, today, Saturday, on the main stock exchange in the capital, Baghdad, and in the Kurdistan region. Also, the Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad recorded, at 10.45 am today, 154,000 Iraqi dinars for 100 US dollars. While the prices during its opening this morning were 153,450 dinars compared to 100 dollars.

In addition, the buying and selling prices increased in exchange shops in the local markets in Baghdad, where the selling price reached 154,500 Iraqi dinars for every 100 US dollars, while the buying prices amounted to 153,500 Iraqi dinars for every 100 US dollars. In Erbil, the capital of the Kurdistan Region, the price of the dollar in the stock market also recorded an increase, as the selling price of the dollar reached 153,900 dinars for every 100 US dollars.  LINK

https://altaghier-tv.translate.goog/2022/12/25/%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A-%D8%AA%D9%82%D9%81%D8%B2-%D9%85%D9%82%D8%A7%D8%A8%D9%84/?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

The Exchange Rates Of The Dollar Exceed The Barrier Of 153 Thousand Dinars In Iraq

Today, Sunday, the exchange rates of the dollar witnessed an increase in the local stock exchange.

The selling price of the dollar was 153,600 dinars per 100 dollars, while the buying price of the dollar was 153,500 dinars per 100 dollars.

And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying a dollar from the Ministry of Finance reached 1450 dinars, while the price of selling it to banks was set at (1460) dinars per dollar, while the selling price to the citizen is (1470). dinars for every dollar.   https://takadum-news.com/archives/139102

The Central Bank Has Stopped Selling The Dollar For Days, And The Markets Are Burning

Baghdad - Iraq today:  Member of the Parliamentary Finance Committee, Soran Omar, announced, on Sunday, that the Central Bank of Iraq has not sold dollar currency since December 23, 2022 until today.

"The central bank did not sell any dollars on 23, 24.25 of this month, due to holidays, so the price of the dollar rose more," Omar said in a blog post.

He added, “The days 26, 27, 28.29 of this month will sell 348 million and 220 thousand dollars locally, and 128 million dollars for remittances and abroad, which is the lowest level of dollar sales compared to the previous weeks during this month. "  LINK

The Dollar Crushes The Dinar.. Governmental Justifications And Promises Of Citizens' Wishes Amid A Worsening Crisis

News source /Baghdad today  News source / Baghdad today   The US dollar crushed the Iraqi dinar, with an unexpected rise, as a result of shy financial and monetary measures that do not rise, and the economic crisis that the people are suffering from.

The economic advisor in the Iraqi government, Mazhar Muhammad Salih, talks about the government's determination, through the monetary authority, to stabilize the exchange rate during the next few days .

Saleh told (Baghdad Today) that “there is real and serious work by the monetary authority to stabilize the exchange rate during the next few days, and this work is by granting advantages to external transfer requests that are made through the traditional means adopted in financing foreign trade .”

He emphasized that “official reserves are at their highest historical levels, which are approaching $100 billion, and the current rise, as we said earlier, is my time, and work is continuing to control the rise and make the exchange rate stable as it was.” before.”

Today, Sunday, the exchange rate of the dollar against the dinar witnessed a big jump, as the exchange rate of 100 US dollars reached 154,500 Iraqis, with a difference of up to about 5,000 dinars within days.

The Iraqi market is witnessing a record rise in food and consumer prices, compared to less than a month ago, which resulted in a significant drop in purchasing power .

Citizens complained that the new wave of high prices negatively affected their living conditions, and the wholesale markets became almost empty of buyers, which merchants and economists see as linked to the rise in the exchange rate of the dollar in the parallel (black) markets .

While the Federation of Chambers of Commerce in Iraq revealed that traders are facing major problems because of the government's actions and the central bank's monetary policy that controls the currency rate in the Iraqi market .

In turn, the Central Bank of Iraq justified, in a statement, the rise witnessed by the exchange rate of the dollar in the local markets during the past days due to some technical factors, including building a modern electronic platform through which banks raise the requests of their customers to buy the dollar

The bank stated that it had started, months ago, to build that platform in coordination with international bodies for the purpose of tightening and organizing the operations of the buying and selling window of foreign currency and ensuring effective control over it, by assigning an international company Specialized in building it and linking banks with the central bank through it, and the platform requires providing information about customers requesting transfers and authorities. The beneficiary and correspondent banks .

The bank revealed that there are many errors discovered through the work of the platform, which requires the bank to re-download it, and these procedures take additional time to accept the request and pass it through the global financial system .

For its part, the government affirmed 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 a statement issued by the media office of the Prime Minister stated that the current rise in the exchange rate of the dollar is temporary, and the necessary remedies will be taken, especially that the financial situation of Iraq is at its best .

The government called on all dealers, including investors and merchants, to cooperate with official banks and the central bank by working in accordance with global trade contexts, and importing.

Under documentary credits, as it provides a guarantee to the importer, preserves his rights, secures the imported goods, and enables him to benefit from banking facilities to cover the value of the credit.

Editing: A.K   You can also read the news from the source here

https://iraqakhbar-com.translate.goog/3819623?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

The Government's Financial Advisor Talks About Selling The Dollar In Government Banks

Baghdad - Iraq today:  The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the application of the mechanism of selling dollars in banks constitutes a correct, practical approach to achieving stability in the exchange market.

Saleh said, in a statement to the official agency, that "the procedures introduced in providing wide and multiple official outlets for displaying dollar cash through the government banking system, with an increase in the allocation for one traveler to 5 thousand instead of 3 thousand dollars , up to 10 thousand dollars, represent a correct option to achieve stability in the exchange market.” .

He added, "In addition to this, strengthening credit cards by raising the exchange rate of the dinars when paying through them, with an increase in withdrawal ceilings in them, and it constitutes a correct move as well in one of the direct positive applications."

Intervention in the exchange market on the part of the monetary authority, to generate actual competition between currency sellers in the market.” The secondary exchange rate to be stable within the scope of the central exchange rate of the dinar.

He added, "The procedures followed provide the cash dollar through available, fair and equal opportunities for the beneficiaries, and make it available directly to the groups that need it for the purposes of travel and treatment outside the country."

He pointed out that "this trend in the policies of intervention in the exchange market is a positive expansion in transforming the dollar cash market into a flexible market that enjoys a high degree of competitiveness, governance and discipline at the same time," noting that " the monetary policy of the Central Bank of Iraq and within the duties of its intervention in the market Exchange by providing an adequate and appropriate supply of foreign currency notes that it is a constant and continuous policy in providing other additional options in providing foreign currency supply, which will continuously contribute to the stability of the exchange market.

He explained, "This expansion ensures at the same time maintaining the stability of the general level of prices,which is the lofty goal of monetary policy in the country.”  LINK

Najaf.. A Traveler Was Caught In Possession Of Foreign Currency In Violation Of The Instructions Of The Central Bank

News source /Sumerian Channel     The ministry stated, in a statement received by Alsumaria News, that “the detachments of the Customs police station at Najaf airport were able, while performing their duties, to arrest a traveler carrying an Iraqi passport, in possession of sums of foreign currency ($72,660). ) US dollars, and (296,000) South Korean won, a violation.” According to the instructions of the Central Bank of Iraq, it is intended to be taken out to South Korea via Qatar Airways (Transit).

And she indicated, “A formal arrest report has been organized, and the papers will be presented to the investigating judge.”

You can read the news from the source here

https://iraqakhbar-com.translate.goog/3819685?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

Iraqi News Highlights Saturday Afternoon 12-24-22

Iraqi News Highlights Saturday Afternoon 12-24-22

Tlm724 Administrator Bondlady’s Corner

Central Bank: measures to increase the dollar supply

Political | 05:57 - 12/24/2022   Baghdad - Mawazine News   Today, Saturday, the Central Bank of Iraq confirmed the assignment of 3 government banks to secure the dollar for the public, and while explaining the withdrawal mechanism, it indicated that it had allowed measures to increase the supply of foreign currency.

The Central Bank's advisor, Ihsan Shamran al-Yasiri, said, "The Rafidain, Rasheed and Industrial banks were assigned as government banks to secure foreign currency for the public for various purposes, such as tourism, study, medicine, and others."

He added, "It was agreed with the three banks to give Master and Visa card holders who have accounts in those banks the ability to fill them in dollars from 1-10000 at a price of 1470 to the public, while the dollar is sold to travelers at 1465."

He added, "Card holders can use them outside Iraq to shop or withdraw money in the currency of the country to which they are traveling," pointing out that "people who do not have a bank account and do not hold a card of any of the three banks, can open an account in it and issue the card, and then the customer fills in The amount he wishes to transfer is up to $10,000.

He pointed out that "these methods and procedures will contribute to increasing the supply of dollars, given that the bank will sell dollars in cash on a daily basis to banks and banking companies," as well as "securing the needs of travelers to obtain dollars in a simple and cheaper way than the market," explaining that "the process of granting dollars in cards Safe.” Ended 29/h

https://www.mawazin.net/Details.aspx?jimare=214999

Central Bank: Dollar Sales Decreased Last Week By 11.46%

Saturday 24, December 2022 12:56 | EconomicalNumber of readings: 295  Baghdad / NINA / - The Central Bank of Iraq's sales in the hard currency auction during the past week amounted to about $600 million.

And the Central Bank stated in a statement that it sold during the past week for the five days in which the auction was opened, starting from Sunday to Thursday, 585 million and 937 thousand and 834 dollars, at a rate of 117 million and 187 thousand and 566 dollars, per day, down by 11.46% from the week in which it was held.

And he indicated that the highest dollar sales during the past week were on Monday, when sales amounted to 135 million 226 thousand and 314 dollars, while the lowest sales on Thursday were 100 million 142 thousand and 740 dollars.

He explained: “Most of these sales I went in the form of transfers abroad to finance foreign trade, while the sale price of the dollar transferred to bank accounts abroad, in addition to the cash sale, reached 1460 dinars per dollar./    https://ninanews.com/Website/News/Details?key=1022229

Al-Sudani Stresses The Need For An Efficient Banking Sector That Enjoys The Confidence Of Citizens

Saturday, December 24, 2022 6:43 PM  Baghdad / The National News Center, Prime Minister Muhammad Shia'a Al-Sudani stressed today, Saturday, the need for an efficient banking sector that enjoys the confidence of citizens.

The media office of the Prime Minister stated, in a statement received by the National News Center, that “Al-Sudani received today a delegation such as the chairmen of the boards of directors of private banks and their representatives, and the Association of Private Private Banks in Iraq,” pointing to “the most prominent financial and social challenges and crises facing the goal of sustainable development, most notably the problems of poverty and unemployment.

Al-Sudani expressed, according to the statement, “the importance of economic solutions, and relying on them to improve the service and living conditions of citizens.” Pointing to "the adoption of a new path for economic reform, through the adoption of the Iraq Fund for Development, which will carry an orientation towards the implementation of projects by the private sector, through specialized funds that contribute to development programs."

And he stressed, “The need for an efficient banking sector that enjoys the confidence of citizens, and without it, the government cannot support development and the private sector.”

For their part, bank managers and representatives presented their vision, problems, and proposals, which are in the path of supporting development. The Prime Minister directed to work on facilitating it, and to form a joint team of advisors in the Presidency of the Council of Ministers and private banks,

to review legislation that impedes the work of banks, and to propose Investment projects, setting up mechanisms to support private banks and activating their role, as well as receiving studies and proposals and providing possible solutions.   https://nnciraq.com/174630/

UN Blaskhart: Iraq Has An Excellent Opportunity For Rapid Progress Towards Development

The Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Hennis-Plasschaert, confirmed today, Friday, that Iraq has an excellent opportunity for rapid progress towards development.

"As the end of the year approaches, we usually take stock of the events of the past year and what was achieved in it as we look forward and think about what we hope to do better next year," Blaskhart said in a statement.

She added, "There is no denying that 2022 was a difficult year for Iraq, but as the year drew to a close, government institutions were able to resume their duties, giving Iraq a great opportunity to embark on the path of stability and progress."

In this spirit, and for the sake of future generations, let us all work together in 2023 and beyond to address the multiple challenges Iraq faces, while ensuring a public space for dialogue, human rights and fundamental freedoms.

She pointed out that "the country, with its rich cultural, ethnic and religious heritage, as well as its geography and untapped resources, has great potential and is supported by political stability and stable revenues, and if opportunities are already seized, then Iraq has an excellent opportunity for rapid progress towards sustainable development, and in this case the future A promise awaits the Iraqi people, who have overcome many adversities.”

“On behalf of the entire UN family, I wish you all a Merry Christmas and a Happy and Peaceful New Year,” she concluded.    https://www.radionawa.com/all-detail.aspx?jimare=32691

Al-Sudani stresses the need to adopt a new path for economic reform through the adoption of the Iraq Fund for Development

Saturday 24, December 2022 18:50 | Economical Number of readings: 27  Baghdad / NINA / - Prime Minister Muhammad Shia'a Al-Sudani affirmed the need to adopt a new path for economic reform through approving the Iraq Fund for Development. A statement by his media office stated that Al-Sudani received, today, Saturday, a delegation such as the chairmen  of the boards of directors of private banks and their representatives, and the Association of Private Private Banks in Iraq.

The financial and social challenges and crises facing the goal of sustainable development, most notably the problems of poverty and unemployment https://ninanews.com/Website/News/Details?key=1022297

The Dollar Continues To Rise In The Iraqi Markets

Economie| 09:47 - 12/24/2022  Baghdad - Mawazine News  Today, Saturday, the exchange rates of the dollar witnessed a slight increase in the local markets.

And the selling prices of the dollar were recorded at 152,500 dinars per 100 dollars, while the buying prices of the dollar were recorded at 152,200 dinars per 100 dollars. Ended 29 / M99

https://www.mawazin.net/Details.aspx?jimare=214958

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

https://www.bondladyscorner.com/

Saturday Morning Iraq Economy News Highlights 12-24-22

Saturday Morning Iraq Economy News Highlights 12-24-22

Al-Rafidain Calls On Citizens To Issue A Master Card To Sell The Dollar Currency

Economie  2022-12-24 | 01:18  Source:  Alsumaria News  3,519 views  Today, Saturday, the Rafidain Bank called on citizens to issue MasterCard cards from the bank to benefit from the sale of dollar currency to them.

And the media office of the bank stated in a statement received by Alsumaria News: “Citizens who do not have accounts in the  Rafidain Bank Or those who are not nationals must pay their salaries in the bank and who wish to travel outside Iraq.

They can review one of the two branches of the bank to open bank accounts and obtain an amount not exceeding (10) thousand.” A dollar from one of the two branches of our bank after depositing the amount of the Iraqi dinar corresponding to the dollar at the exchange rate (1465) dinars to the dollar.

The statement called, "Citizens to visit the Palestine Street branch (nearRusafa) and branch  Arab Quarter (Karkh side) in Mansour For the purpose of opening an account and issuing a card Master Card immediately. And that they submit the following documents, which are the civil status identity or the unified national card, the passport, the housing card, and an effective mobile phone number, for the purpose of fulfilling their requests . other in Baghdad and provinces, respectively.  LINK

Al-Rafidain Invites Citizens To Issue A Master Card To Sell Dollar Currency

Economy News-Baghdad   Al-Rafidain Bank called on citizens to issue MasterCard cards from the bank to benefit from the process of selling dollar currency to them.

And the media office of the bank stated in a statement that citizens who do not have accounts in Al-Rafidain Bank or who are not citizens should pay their salaries in the bank and those who wish to travel outside Iraq can review one of the two branches of the bank to open bank accounts and obtain an amount not exceeding (10) thousand dollars from one of the two branches of our bank After depositing the amount of the Iraqi dinar corresponding to the dollar, at an exchange rate of (1465) dinars to the dollar.

The statement called on citizens to visit the Palestine Street branch (al-Rusafa side) and the Arab neighborhood branch (al-Karkh side) in Mansour for the purpose of opening an account and issuing a MasterCard card immediately.

He indicated that the following documents should be submitted, which are the civil status identity or the unified national card, passport, housing card, and an effective mobile phone number. for the purpose of fulfilling their requests.

He pointed out that the bank will open its doors on Saturday and Sunday corresponding to 24- and 12-25-2022, while other branches will be opened in Baghdad and the provinces, respectively.

Views 135   Added 12/24/2022 - 9:27 AM   Updated 12/24/2022 - 1:26 PM

https://economy-news.net/content.php?id=31487

Al-Rafidain Bank Invites Citizens To Issue Mastercard Cards For Those Wishing To Travel Outside Iraq

By Moahmmad Editor Iraq Today, Saturday, the Rafidain Bank in Iraq called on citizens to issue MasterCard cards from the bank, to benefit from selling dollar currency to them.

Al-Rafidain Bank stated, “Citizens who do not have accounts in Al-Rafidain Bank or whose salaries are not residing in the bank and who wish to travel outside Iraq, can review the Palestine Street and Arab Quarter branches, to open bank accounts and obtain an amount not exceeding 10 thousand dollars,” according to the news agency. Iraq is "conscious".

He added, “The selling price of $100 will be at 1465 dinars to the dollar,” calling on citizens to “visit the Palestine Street branch (al-Rusafa side) and the Arab neighborhood branch (al-Karkh side) in Mansour for the purpose of opening an account and issuing a MasterCard card immediately.”

He continued, that the required documents are the civil status identity or the unified national card, passport, housing card, and an effective mobile phone number for the purpose of meeting citizens' requests.

He pointed out that the bank will open its doors today and tomorrow, stressing that "other branches will be opened in Baghdad and the provinces, respectively."   https://altahreernews.com/41743/

The Central Bank Of Iraq .. The Rise In The Exchange Rate Of The Dollar Against The Dinar

Today, Saturday, the Central Bank of Iraq announced a rise in the exchange rate of the dollar against the Iraqi dinar. He said, in a statement, that the exchange rates of the dollar against the Iraqi dinar rose slightly in the Iraqi local markets.

And the selling price of the dollar recorded 152,500 dinars per 100 dollars, while the buying price of the dollar recorded 152,200 dinars per 100 dollars.

On the other hand, Al-Rafidain Bank called on its customers to benefit from selling the dollar currency by issuing a “Master Card” card from the bank.

It is noteworthy that the Central Bank of Iraq announced in 2020 the adjustment of the exchange rate of the US dollar to be 145 thousand dinars for every 100 dollars, according to the 2021 budget approved by Parliament.  LINK

Sudanese Advisor: Selling Dollars In Banks Is A Practical Approach To Achieving Stability In The Exchange Market

Economie  Today, 13:46  Baghdad - Conscious - Nassar Al-Hajj   Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the application of the mechanism for selling dollars in banks constitutes a correct, practical approach to achieving stability in the exchange market, pointing out that the monetary policy of the Central Bank continues to provide options as well as to achieve this goal .

Saleh said, to the Iraqi News Agency (INA), that "the procedures introduced in providing wide and multiple official outlets for displaying dollar cash through the government banking system, with an increase in the allocation for one traveler to 5 thousand instead of 3 thousand dollars, up to 10 thousand dollars represent a correct option to achieve stability.” in the exchange market ”.

He added, "In addition to this, strengthening credit cards by raising the exchange rate of the dinars when paying through them, with an increase in withdrawal ceilings in them, and it constitutes a correct move as well in one of the direct positive applications."

Intervention in the exchange market on the part of the monetary authority, to generate actual competition between currency sellers in the market.” The secondary exchange rate to be stable within the scope of the central exchange rate of the dinar .

He added, “The procedures followed provide the cash dollar through available, fair and equal opportunities for the beneficiaries, and make it available directly to the groups that need it for the purposes of travel and treatment outside the country .”

And he pointed out that "this trend in the policies of intervention in the exchange market is a positive expansion in transforming the dollar cash market into a flexible market that enjoys a high degree of competitiveness, governance and discipline at the same time,

" noting that “the monetary policy of the Central Bank of Iraq and within the duties of its intervention in the exchange market By providing an adequate and appropriate supply of foreign currency, it is noted that it is a constant and continuous policy in providing other additional options in providing foreign currency supply, which will contribute continuously to the stability of the exchange market .

He pointed out that "this expansion ensures at the same time the stability of the general level of maintaining prices, which is the lofty goal of monetary policy in the country ."

Al-Rafidain, Al-Rasheed and Al-Sanaei banks announced that non-national citizens would include their salaries on the bank and those wishing to travel outside Iraq by buying dollar currency.

https://www-ina-iq.translate.goog/173930--.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

The Dollar Continues To Rise In The Iraqi Markets

Economie| 09:47 - 12/24/2022  Baghdad - Mawazine News  Today, Saturday, the exchange rates of the dollar witnessed a slight increase in the local markets.

And the selling prices of the dollar were recorded at 152,500 dinars per 100 dollars, while the buying prices of the dollar were recorded at 152,200 dinars per 100 dollars. Ended 29 / M99

https://www.mawazin.net/Details.aspx?jimare=214958

Gold Prices In The Local Markets

Economie| 12:15 - 12/24/2022 Baghdad - Mawazine News  Gold prices fell today, Saturday, in the local markets in the capital, Baghdad.

The selling price of one 21-carat weight of Gulf, Turkish and European gold was recorded at 382 thousand dinars, and the purchase price was 378 thousand dinars, while the selling prices on Thursday were 384 thousand dinars per weight.

And the selling price of one 21-carat weight of Iraqi gold also recorded a decrease at 352 thousand dinars, and the purchase price reached 348 thousand.

With regard to gold prices in goldsmiths' shops, the selling price of the 21-carat Gulf gold weight ranges between 380 thousand dinars and 390 thousand, while the selling price of the Iraqi gold weight ranged between 350 thousand and 360 thousand dinars. https://www.mawazin.net/Details.aspx?jimare=214968

"Tidbits From TNT" Saturday Morning 12-24-2022

TNT:

Tishwash:  Al-Rafidain invites citizens to issue a Master Card to sell dollar currency (12/24)

Rafidain Bank called, on Saturday, for citizens to issue Master Card cards from the bank to benefit from the sale of dollar currency to them

 And the media office of the bank stated in a statement received by {Euphrates News}, “Citizens who do not have accounts in Al-Rafidain Bank or who are not citizens of their salaries in the bank and who wish to travel outside Iraq can review one of the two branches of the bank to open bank accounts and obtain an amount not exceeding (10) Thousands of dollars from one of the two branches of our bank after depositing the amount of Iraqi dinars corresponding to the dollar at an exchange rate of (1465) dinars to the dollar. 

The statement called on "citizens to visit the Palestine Street branch (al-Rusafa side) and the Arab neighborhood branch (al-Karkh side) in Mansour for the purpose of opening an account and issuing a MasterCard card immediately. And to present the following documents, which are the civil status identity or the unified national card, passport, housing card, and an active mobile phone number For the purpose of meeting their requests, indicating that the bank will open its doors on Saturday and Sunday corresponding to 24 - and - 12/25/2022. 

While "other branches will be opened in Baghdad and the provinces, respectively."  link

RVAlready:  Thanks Tish. I think this is a major step to the RV. Iraqi banks selling international currencies on Mastercards today….Expecting RV the first of the year

JSL:  rvalready wouldn't that finally be great, I seen you in here all these years and it sure would be good to see this finally come to a conclusion

Annie68:  I wonder what that "new" rate is on these cards is? Supposed to be a new rate?

RVAlready:  No new rate yet as far as I know….New rate the first of the year

JSL:  Lets Do it! New rate for a new day….New Year too

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Tishwash:  Sudanese advisor: Selling dollars in banks is a practical approach to achieving stability in the exchange market

Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the application of the mechanism for selling dollars in banks constitutes a correct practical approach to achieving stability in the exchange market, pointing out that the monetary policy of the Central Bank continues to provide options as well to achieve this goal .

Saleh said, to the Iraqi News Agency (INA), that "the procedures introduced in providing wide and multiple official outlets for displaying dollar cash through the government banking system, with an increase in the allocation for one traveler to 5 thousand instead of 3 thousand dollars, up to 10 thousand dollars, represent a correct option to achieve stability." in the exchange market .”

He added, “In addition to this, strengthening credit cards by raising the exchange rate of the dinar when paying through them with an increase in withdrawal ceilings in them, and it constitutes a correct move as well in one of the applications of direct positive intervention in the exchange market on the part of the monetary authority, to generate actual competition between currency sellers in the market.” The secondary exchange rate to be stable within the range of the central exchange rate of the dinar . 

He added, "The procedures followed provide the cash dollar through available, fair and equal opportunities for the beneficiaries, and make it available directly to the groups that need it for the purposes of travel and treatment outside the country ." 

And he pointed out that “this trend in the policies of intervention in the exchange market is a positive expansion in transforming the dollar cash market into a flexible market that enjoys a high degree of competitiveness, governance and discipline at the same time,” noting that “the monetary policy of the Central Bank of Iraq and within the duties of its intervention in the exchange market By providing an adequate and appropriate supply of foreign currency, it is noted that it is a constant and continuous policy in providing other additional options in providing foreign currency supply, which will contribute continuously to the stability of the exchange market .”

He pointed out that “this expansion ensures at the same time maintaining the stability of the general level of prices, which is the lofty goal of monetary policy in the country .”

Al-Rafidain, Al-Rasheed and Al-Sanaei banks announced that non-national citizens would include their salaries on the bank and those wishing to travel outside Iraq by buying dollar currency.  link

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CandyKisses:  Gold prices in local markets

Baghdad - Mawazine News
Gold prices fell, on Saturday, in the local markets in the capital, Baghdad.

Selling prices were recorded One 21-carat weight of Gulf, Turkish and European gold is 382 thousand dinars, and the price of Buying 378 thousand dinars, while the selling prices for Thursday were 384 thousand dinars per weight Per.

The sale price of one 21-carat Iraqi gold also recorded a decrease at 352 thousand dinars, and the purchase price was 348 thousand.

With regard to gold prices in goldsmiths' shops, the sale price of the Gulf gold weight 21 carat ranges between 380 thousand dinars and 390 thousand, while the selling price ranged gold weight Iraqi between 350 thousand and 360 thousand dinars.  

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CandyKisses:  The popular movement: accuses the US ambassador of interfering in the Iraqi issue to disrupt the Chinese agreement

Information / Baghdad..  

A member of the popular movement for the Belt and Road, Hussein Ali Al-Karawi, accused, on Saturday, the US ambassador in Baghdad, Elena Romanowski, of working to disrupt the Sino-Iraqi agreement by all means, indicating that Romanowski's moves are considered blatant interference in our internal affairs.  

Al-Karawi said, in an interview with Al-Maalouma Agency, that "the American ambassador in Baghdad is touring some official officials to implement America's malicious agenda," stressing that "the American persistence constitutes a blatant interference in the Iraqi sovereign affairs." 

He added, "This interference has become visible to all, and it is obstructing the implementation of the Chinese agreement and working to inflame the street against the Sudanese government."  

He pointed out that "the US ambassador to Baghdad is violating diplomatic norms by violating the sovereignty of Iraq and working to disrupt agreements with China, especially the Belt and Road."   

Today, Saturday, the representative of the Al-Fateh Alliance, Rafik al-Salhi, accused the US ambassador of continuing to violate Iraq's sovereignty and working to implement her country's agenda in Iraq, calling on the new government to keep it away from interfering with decisions that concern the Iraqi interior.

Mot: ... can You guess ALL he wanted Santa To Bring!! ~~~

Mot ..... Trust me! - I Knows!!! ~~~

Iraqi News Highlights Friday Afternoon 12-23-22

Iraqi News Highlights Friday Afternoon 12-23-22

Tlm724 Administrator Bondlady’s Corner

Weather alert: There may be a weather delay in our posting articles in the coming days. If we lose power then the news will be delayed. Thank you all and Happy Holidays. TLM724  BondLady’s Corner Admin

Al-Sudani Confirms Iraq's Aspiration To Activate Partnership And Investment Paths With Italy And Europe

Today, Friday, Prime Minister Muhammad Shia'a al-Sudani held official talks with Italian Prime Minister Georgia Meloni and her accompanying delegation, after her arrival in the capital, Baghdad, on Friday morning on an official visit.

"The talks included files of cooperation in the fields of agriculture, health, and various aspects of economic and trade exchange," said a statement from the Prime Minister's Media Office.

Al-Sudani expressed his appreciation for the Italian role within the international coalition to fight ISIS, stressing Iraq's aspiration to activate the paths of partnership and investment with Italy and all European Union countries.

For her part, the Italian Prime Minister affirmed that "a strong Iraq is a condition for the prosperity and stability of the Middle East region," indicating that "her official visit to Iraq represents the beginning of distinguished relations linking the two friendly peoples, the Iraqi and the Italian."

https://www.radionawa.com/all-detail.aspx?jimare=32688

Oil Prices Rose Amid Expectations Of A Decrease In Russian Crude Exports From The Baltic Region

Friday 23 December 2022 09:51 | Economical Number of readings: 283  Baghdad / NINA / - Oil prices rose today, Friday, amid expectations of a decrease in Russian crude exports from the Baltic region during the current month, which calms fears that a severe winter storm in the United States will lead to eliminating the growth in fuel demand during the holiday season.

By 01:48 GMT, Brent crude rose 88 cents, or 1.1%, to $81.86 a barrel.

US West Texas Intermediate crude rose 92 cents, or 1.2%, to $78.41 a barrel.

Russia's exports of Baltic oil may decline by 20% this December, compared to the previous month, after the European Union and the Group of Seven countries imposed sanctions and a ceiling on Russian crude prices, / finished 3   https://ninanews.com/Website/News/Details?key=1022013

The President Of The Republic Assures Meloni Of The Importance Of The Iraqi-Italian Relations And Their Strengthening / Expanded

Friday 23 December 2022 12:56 | political Number of readings: 215     Baghdad / NINA / - The President of the Republic, Dr. Abdul Latif Jamal Rashid, discussed today with the Italian Prime Minister, Georgia Meloni, the axes of the strong bilateral relations that bring the two countries together.

During the meeting, they discussed the details of the existing cooperation and ways of enhancing it in many issues of concern to the two countries, in a way that achieves the common interests of the two friendly peoples.

The President of the Republic stressed the importance of the existing relations between Iraq and Italy, and the need for work and coordination in order to strengthen them, noting that Italy is a partner for Iraq in many basic issues

Rashid spoke about the security and political stability the country is witnessing after the formation of the new government, which set an ambitious ministerial program based on advancing major infrastructure projects, improving the living and service conditions directly related to citizens, working to support the private sector through the required facilities and legislation, and opening the door to investments in Construction, reconstruction and development process.

He referred to the defeat of terrorist groups at the hands of the Iraqi security forces, praising the role of friends in the international community in helping Iraq in combating terrorism, including Italy, which contributed to support, training and advice in this regard.

And he indicated that there are many aspects of cooperation and coordination between Iraq and Italy, which can be strengthened in the economic and cultural fields and in the field of tourism, referring to the visit of the Pope of the Vatican to Iraq and its positive impact on the Iraqis and a true picture of the stable conditions in the country,

as well as the common challenges that require Joint action, including addressing the effects of terrorism by the return of the displaced to their homes, cultural cooperation through the exchange of experiences, as well as concerted efforts in confronting the dangers of climate change and the resulting crises of water scarcity and desertification.

For her part, Italian Prime Minister Georgia Meloni welcomed the positive development that Iraq is witnessing in terms of security and politics, stressing her country's aspiration to strengthen relations with Iraq at all levels, in addition to supporting the security and stability of Iraq, its sovereignty and the safety of its citizens.

And she stressed the importance of a strong and effective Iraq in supporting the stability of the region./ End 3    https://ninanews.com/Website/News/Details?key=1022052

The President Of The Republic Stresses The Necessity Of Concerted Efforts To Improve The Living Conditions Of Citizens

The President of the Republic, Abdul Latif Jamal Rashid, stressed the need for concerted efforts to improve the living conditions of citizens.

The media office of the Presidency of the Republic said in a statement: "The President of the Republic, Abd al-Latif Jamal Rashid, received at the Baghdad Palace, former Prime Minister Haider al-Abadi."

The statement added, "The meeting discussed developments in the general political, security and economic situation in the country, and the efforts required to protect the security and stability of the country and citizens."

The President of the Republic stressed, according to the statement, the need for national unity and the concerted efforts of all in order to consolidate security and stability and improve the living and service conditions of citizens as a priority at work, and support the government's efforts in implementing its ministerial program to improve the conditions in the country politically, security, economically and services, in a way that reflects the aspirations of Iraqis and achieves their aspirations. in a dignified, safe and stable life.    https://www.radionawa.com/all-detail.aspx?jimare=32683

News About The Minister Of Finance's "Reservations" On Spending The 400 Billion Dinars For Kurdistan

Money and business   Economy News – Baghdad On Thursday, the Kurdish media network, Rudaw, reported that it had obtained information stating that Finance Minister Taif Sami was "not ready" to sign the disbursement of the 400 billion dinars to the Kurdistan region.

The network stated in a news item followed by "Al-Iqtisad News", that "according to information obtained by the Rudaw media network, the Minister of Finance, Taif Sami, is not yet ready to sign the disbursement of the amount, and she also made observations on the decision and considered it illegal during the cabinet session this week." Past".

On Tuesday (December 13, 2022), the head of the Kurdistan Regional Government representative in Baghdad, Fares Issa, announced that the Iraqi government had agreed to send the amount of 400 billion dinars to the Kurdistan region. Views 552   Added 12/22/2022 - 6:02 PM   Updated 12/23/2022 - 3:18 PM

https://economy-news.net/content.php?id=31472

High Dollar Exchange Rates In The Local Markets

Economie| 10:08 - 12/23/2022  Baghdad - Mawazine News   Today, Friday, the exchange rates of the dollar witnessed an increase in the local markets.

The selling price of the dollar was 152,500 dinars per 100 dollars, while the buying price of the dollar was 152,200 dinars per 100 dollars.    https://www.mawazin.net/Details.aspx?jimare=214874

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

https://www.bondladyscorner.com/

"Vietnam News" Posted by Henig at KTFA 12-23-2022

KTFA:

Vietnam News:

Henig:  Vietnamese banks' ratings on a positive trajectory: Fitch Ratings

December, 23/2022

Stronger government support and operating environment have helped Vietnamese banks gain positive momentum, according to Fitch Ratings.

HÀ NỘI — Stronger government support and operating environment have helped Vietnamese banks gain positive momentum, according to Fitch Ratings.

In a report released this week, the rating agency said the propensity of Việt Nam's authorities to support the banking system is evident from recent regulatory actions. This led to Fitch's upgrade of most domestic banks' Long-Term Issuer Default Ratings (IDRs) in November 2022.

IDRs of three of the four rated Vietnamese banks (Vietinbank, Vietcombank, MB and ACB) are driven by Fitch Ratings' expectations of sovereign support, following the upgrade of their Government Support Ratings (GSR) in November 2022. Only ACB's rating is underpinned by its standalone credit profile, as denoted by the Viability Rating (VR).

“The State Bank of Vietnam's record of prudential supervision over the past decade and its policy response to a run on deposits at a mid-sized commercial bank in October 2022 have reinforced our view that the State has a strong propensity to support the banking system during times of stress to avert bank defaults. The IDRs of State-owned banks with high systemic importance are now equalised with the sovereign rating as a result,” Fitch said in the report.

According to Fitch, the operating environment for the banking system remains broadly supportive with revenue prospects riding on Việt Nam's strong economic performance, while asset quality, profitability and capitalisation continue to make steady progress.

“We believe that the risks of a liquidity crunch in the property sector spilling over to the banking sector are manageable, as refinancing challenges are mainly policy-driven and supply-and-demand fundamentals remain conducive over the medium term,” it said.

According to Fitch, Việt Nam's economy grew by a robust 8.8 per cent in the first nine months of 2022 and it expects the country’s GDP growth to be sustained above 6 per cent in 2023 and 2024. The favourable economic backdrop has enabled banks to take advantage of ample asset origination opportunities to expand, while rising household incomes and improved business cash flow keep credit risks in check.

“The outlook on the operating environment score is positive and may be upgraded in the next 12-18 months should Việt Nam's economic momentum be sustained,” it noted.

Key performance indicators in the banking system have continued to improve. Loan growth in the first nine months of 2022 accelerated to 17 per cent, and the SBV announced in December that the 14 per cent system credit growth limit for 2022 may be increased by 1.5-2.0 percentage points. The system's reported non-performing loan (NPL) ratio was steady at 1.5 per cent as of the first half of 2022, pushing credit costs lower year-on-year and raising return on equity in the system to nearly 20 per cent on an annualised basis. Capitalisation improved, although only modestly, as much of the generated capital was expended to sustain rapid balance-sheet growth. Fitch expects these trends to hold up in the near term, which would strengthen the case for a more favourable operating environment assessment.

Fitch said problem loan ratios remained steady in the first three quarters of 2022 despite the expiry of COVID-19 loan classification forbearance in June 2022.

“We see limited spill-over risks from the remaining restructured loans in the banks' books, as all of the rated banks have fully provisioned for these loans, ahead of the regulatory deadline of end-2023. The higher-interest-rate environment is likely to weigh on borrowers' debt servicing capacity, but we expect any weakening in loan quality to be manageable amid the resilient economic momentum. Moreover, about 60 per cent-70 per cent of the rated entities' loans have a tenor of less than five years, with the majority being under one year. The relatively short loan lives suggest that the 200 basis points increase in interest rates would not have increased gross repayment amounts materially,” Fitch said.

Reserves against NPLs at the banks remained adequate at around 137-402 per cent as of September 2022, with Vietcombank maintaining the highest coverage ratio. Fitch believes this reflects the bank's more conservative provisioning policy. The rating agency expects its loan-loss coverage to decline as uncertainty surrounding the pandemic recedes, although all of the banks have said that they intend to maintain coverage above 100 per cent over the next 12-18 months to safeguard against future asset-quality weakness.

“The rated banks' direct exposures to real-estate developers are moderate and are usually secured. However, the banks remain vulnerable to swings in property prices, since real-estate assets form a significant portion of loan collateral. We do not expect property prices to plummet in the near term in light of the resilient demand,” Fitch said. — VNS      LINK

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Henig:  Bách Hóa Xanh partners with MoMo to promote cashless payment in retail sector

December, 23/2022

Bách Hóa Xanh (a member of Mobile World Group) and MoMo have announced a strategic cooperation that turns the later into the first e-wallet to be accepted as a payment method at Bách Hóa Xanh stores.

HCM CITY — Bách Hóa Xanh (a member of Mobile World Group) and MoMo have announced a strategic cooperation that turns the later into the first e-wallet to be accepted as a payment method at Bách Hóa Xanh stores.

This means, besides payment by cash and card, customers can now make payments using MoMo when shopping at more than 500 Bách Hóa Xanh stores in HCM City. This payment method will soon expand to all Bách Hóa Xanh stores nationwide.

Previously, MoMo was one of the payment methods available on Bách Hóa Xanh's online shopping channel. The new move marks a comprehensive cooperation between the two sides from online to offline to increase customer experience and convenience in modern retail, and promote cashless payment.

“MoMo is delighted to be the first e-wallet accepted as a payment method at Bách Hóa Xanh stores, bringing consumers a convenient and easy shopping experience, especially during the approaching Lunar New Year,” said Nguyễn Linh Trang, director of the Payment and Daily Service Centre of MoMo.

MoMo will continue to be a reliable strategic partner of retailers and businesses to contribute to promoting Việt Nam's digital economy, she said.

“The cashless payment trend is contributing to improving customer experience and optimising business operations, especially in the retail sector. Comprehensive cooperation with MoMo super app from online to offline helps Bách Hóa Xanh to catch up with the cashless payment trend in the fastest way, while reaching more customers through MoMo’s diverse ecosystem of more than 31 million users," said Trương Hồng Hoàng, multicat business unit director at Bách Hóa Xanh.

To make the partnership, from now until December 31, 2022, all users who choose to pay with MoMo at Bách Hóa Xanh stores in HCM City will receive a 50 per cent discount (maximum of VNĐ30,000) for any bill.

In particular, users can choose to pay with postpaid wallet, a ‘buy now, pay later” feature on MoMo. — VNS   LINK

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Henig:  Trade promotion helps export growth

06:00 | 23/12/2022

(VEN) - Trade promotion has significantly contributed to Vietnam’s export achievements. Vietnam Economic News’ Viet Nga spoke with Vu Ba Phu, Head of the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (VIETRADE) about the agency’s work.

Could you tell us about VIETRADE’s trade promotion work in 2022?

VIETRADE has helped enterprises identify market trends, learn about new regulations and policies in foreign markets, and promote Vietnamese brands and products through trade fairs and exhibitions, including Anuga in Germany, Sial in Paris (France), and BioFach (Germany), among others.

The agency worked with Vietnamese trade offices in different countries to open Vietnamese goods showrooms, and frequently held supply-demand connection meetings between Vietnamese exporters and foreign importers.

Trade promotion has helped many Vietnamese businesses develop professional branding and improve their image. They have also helped Vietnamese enterprises recover and develop production, promote exports and improve the competitiveness of their products, increase sales, and connect local suppliers with distributors, processors and exporters.

Could you tell us about VIETRADE’s monthly meetings with overseas trade offices?

Since July 2022, VIETRADE has held monthly online meetings with Vietnamese trade offices in foreign countries to update them on the export and import needs of localities and sectors, and provide information about the latest policies and market opportunities.

The meetings connect trade promotion agencies and other organizations and enterprises in Vietnam with Vietnamese trade offices and business associations overseas to implement the 13th-tenure Central Party Committee’s target of boosting trade promotion, expanding and diversifying export markets, products and supply chains, and reaching a sustainable trade surplus.

Could you point to the strengths and weaknesses of Vietnamese enterprises in product and export promotion?

Vietnamese enterprises have become increasingly large-scale and competitive. They are capable of international economic integration and participating in global supply chains, relatively agile in digitalization, and take the initiative in information technology application.

However, many businesses remain passive in market, policy and partner information search and coordination with trade promotion organizations to prepare and implement trade promotion plans, especially for FTA markets. Many enterprises lack human resources with foreign language competence and skills of trade promotion negotiations and knowledge of modern consumption trends and applying information technology for trade (including export) promotion.

Many businesses have not paid due attention to product development and quality and competitiveness improvement to meet import markets’ regulations on quality, food hygiene and safety, traceability and non-tariff technical barriers.

What should businesses do to increase exports and expand markets?

In order to strengthen exports, expand markets and keep pace with continuous changes in world consumption trends, businesses need to pay attention to intellectual property right registration and protection for their products in foreign markets, implement regular product research and development, connect with foreign distributors, attract foreign investment in the production of goods for export to overseas distribution systems, improve production technology and equipment, and diversify products and product designs to meet not only the tastes of foreign customers but also technical standards and regulations of import markets. One of the most important things is medium and long-term investment in branding development abroad to add value to both enterprises and their products.

Viet Nga   LINK

Henig:  Oil stocks with strong financial health good choices for investors

December, 22/2022

Oil businesses with strong financial health benefitting from the current high oil prices will be the appropriate choices for investors’ portfolio in the current volatile market context.

HÀ NỘI Oil businesses with strong financial health benefitting from the current high oil prices will be the appropriate choices for investors’ portfolios in the current volatile market context.

The stock market ended last week with three increasing sessions and two decreasing sessions. The main movement of the VN-Index in the past week was a struggle, industry groups took turns leading and controlling the index with three prominent names of securities, banking and steel.

In the past month, many oil and gas stocks recorded an increase of more than double digits such as Nam Sông Hậu Oil and Gas Investment Company (NSH) gaining 45.5 per cent, Petrovietnam Transportation Corporation (PVT) rising 46.2 per cent, PetroVietnam Power Land (PVP) climbing 46 per cent and Bình Sơn Refinery (BSR) rising 34.2 per cent.

Positive stock price movements often reflect the sector's outlook and investor confidence in the businesses.

Mixed performances among oil and gas groups

With the ongoing tensions between Russia and Ukraine, the price of Brent crude oil was pushed to a record high since 2008 of $139.13 a barrel in March. Brent oil price cooled down gradually towards the end of 2022 but remained at the highest level in the past eight years, at over $90 per barrel.

Oil and gas enterprises are divided into three types: Upstream (including all activities of prospecting, exploration and exploitation); midstream (transportation, storage and distribution of oil and gas); downstream (converting oil and gas into finished products, delivering to customers). Therefore, the impact of an increase in oil prices on each of these groups is different.

Despite the sharp increase in oil prices in 2022, the upstream group including Vietnam Petroleum Technical Services Corporation (PVS) and PetroVietnam Drilling and Drilling Services Corporation (PVD) recorded poor business results.

PVD recorded a loss of VNĐ51 billion in the third quarter of 2022; thereby increasing the loss in nine months of 2022 to VNĐ201.66 billion. PVS in the third quarter of 2022 recorded a profit of VNĐ193 billion, down nearly 20 per cent compared to the same period last year; PVS' 9-month profit in 2022 also decreased by 21.2 per cent to VNĐ453.6 billion.

This year is considered a challenging year for the "downstream" group due to the instability of the domestic market. Nghi Sơn oil refinery, the largest oil project in the country, operated below capacity in the first half of this year and the delay in adjusting the costs of the base price of oil has caused many difficulties for distributors, causing a shortage of domestic supply. Therefore, some large distributors have to increase the source of imported goods to ensure petrol for the domestic market in the context of unfavourable developments in the world oil market and high transportation costs.

In Q3, PV Oil (OIL) lost VNĐ373.4 billion; Materials - Petroleum Joint Stock Company (COM) lost VNĐ7.7 billion; Thanh Lễ General Import-Export Trading Corporation (TLP) lost VNĐ168 billion; Nam Sông Hậu Oil and Gas Investment Company (NSH)'s profit was VNĐ762 million, down by nearly 82 per cent, Bình Sơn Refinery (BSR)'s profit was VNĐ455 billion, equivalent to a slight decrease of 3.32 per cent.

In the first nine months of 2022, no “downstream” enterprises recorded a growth in profit over the same period last year, except for BSR, which made a profit of nearly VNĐ13 trillion, nearly three times higher.

The midstream group is much more promising. Besides PetroVietnam Drilling and Well Services Corporation (PVD) with profit down 49 per cent, the rest of the companies all announced good business results, such as PetroVietnam Gas JSC (GAS) earning profit of VNĐ3.09 trillion, up 25.42 per cent; Petrovietnam Transportation Corporation (PVT) collecting VNĐ386 billion, up 152.3 per cent and PetroVietnam Power Land JSC (PVP) earning VNĐ176.3 billion, up 371.4 per cent.

VnDirect Securities Co expects the average brent oil price to reach about $90 per barrel in 2023.

For the upstream group, VnDirect expects the revised Petroleum Law passed in November will be a general legal framework for the oil industry, reducing the overlap between laws in oil and gas activities, helping to create a transparent legal framework for investors and increasing the attractiveness of the investment environment in the oil and gas sector.

As for the midstream, VnDirect sees the demand for oil and gas transportation in the domestic market will gradually increase in the next few years thanks to the operation of Bình Sơn Refinery and Nghi Sơn Refinery at full capacity. Besides, charter rates have recovered to pre-COVID-19 levels since 2022, which is a good sign for oil and gas carriers.

As for the downstream group especially large enterprises, VnDirect expects world oil prices to see more stable movements compared to 2022; Việt Nam's petrol consumption demand is forecast to reach a compound growth rate of 5.5 per cent in the 2022-2030 period, which is the basis for distribution businesses to grow in the coming years. VNS    LINK

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Henig:  MPI releases 2021's sustainable development index, Đà Nẵng tops the chart

December, 23/2022 

The Academy of Policy and Development (APD), under the Ministry of Planning and Investment (MPI)  released the 2021 Provincial Sustainable Development Index (PSDI) for cities and provinces across the country on Wednesday, as well as a number of recommendations to help them stay on-course in the coming years.

HÀ NỘI — The Academy of Policy and Development (APD), under the Ministry of Planning and Investment (MPI) released the 2021 Provincial Sustainable Development Index (PSDI) for cities and provinces across the country on Wednesday, as well as a number of recommendations to help them stay on-course in the coming years.

The country's average PSDI for the year 2021 was 51.38 points, a reflection of a difficult year when localities struggled to deal with a global pandemic and post-pandemic social and economic recovery.

The academy urged local governments to step up efforts in the implementation of the country's 2030 vision for sustainable development.

The central city of Đà Nẵng continued to top the index this time with 65.28 points, followed by northern port city Hải Phòng with 64.09 and Quảng Ninh, another northern coastal town, with 63.10 points.

The capital city Hà Nội with 62.46 and emerging northern industrial hub Hưng Yên Province with 62.43 points showed some remarkable improvement compared to the 2020's index.

The vast majority of bottom-ranking localities were located in remote and isolated regions of the country, which trailed far behind in development in comparison to the country's large urban centres in the Red River Delta and the Mekong Delta.

Hà Nam Province and Bình Dương Province were other up-and-comers this year thanks to multiple large industrial investments.

At an event announcing the 2021 index, policymakers, economists and scientists discussed measures to help the country stay on course with its sustainable development goals (SDGs), as well as to review the implementation of SDGs on both central and local government levels.

A total of 17 SDGs have been included in a National Action Plan until 2030 which translated into 115 objectives that are suitable to Việt Nam's historic, geographic and demographic conditions.

Development experts said the implementation of the SDGs has played a key part in setting up the foundation for the country's next phase of development.

Dr Trần Trọng Nguyên, APD's director, however, said there is a need to build a more detailed plan for SDGs implementation at the local government level, which integrates SDGs into local socio-economic long-term development strategy.

An important milestone has been reached in the country's effort to eliminate multidimensional poverty, from 9.2 per cent in 2016 to 3.36 per cent in 2022.

''Some of our key objectives are to eliminate hunger, ensure food security, bolster exports, especially of agroforestry products and develop a sustainable agriculture sector," said economist Lê Việt Anh.

Other important objectives include improvements to gender quality, public services and the fight against violence against children. VNS    LINK

Friday Morning Iraq News Highlights 12-23-22

Friday Morning Iraq News Highlights 12-23-22

A Government Bank Announces The Direct Procedures For Selling The Dollar

Economie| 08:33 - 12/22/2022  Baghdad - Mawazine News  Al-Rasheed Bank announced today, Thursday, the start of procedures for selling dollars for travel purposes, at a price of 1465 dinars per dollar.

The bank's media stated in a statement, a copy of which Mawazine News received, that "the procedures for selling dollars for travel purposes have been initiated, with no more than (10) thousand US dollars for each customer deposited in the credit card that will be issued to those wishing through the bank's branches."

The statement added, "The branches in which the dollar will be sold now are (the main branch / Yarmouk / Raghba Khatoun), and other branches will be included in the coming days." Ended 29 / M99

https://www.mawazin.net/Details.aspx?jimare=214843

The US Dollar Maintains Its Course Globally

Economie| 02:02 - 12/23/2022  Follow-up - Mawazine News   The dollar was in the lead on Friday, as strong US economic data reinforced the need for the Federal Reserve to stay on its path of tightening monetary policy and increased the odds of raising interest rates for a longer period.

The greenback gave up some of its gains in Asian trade after rallying broadly overnight, although it faltered against the Japanese yen, which continues to attract strong demand after the Bank of Japan's surprise policy adjustment earlier in the week.

The pound rose 0.05% to $1.2043, after falling to a three-week low of $1.1993 overnight.

The kiwi rose 0.38% to $0.62715, after falling 0.7% and touching a three-week low on Thursday.

Data released Thursday showed that the number of Americans filing new claims for unemployment benefits rose less than expected last week, indicating a still-tight job market.

A second report on the same day confirmed that the US economy rebounded in the third quarter at a faster pace than previously expected, after contracting in the first half of the year.

The euro rose 0.06% to $1.0606, with the single currency under broad pressure recently due to a combination of weak growth in the eurozone, the Ukraine war, and the Federal Reserve's hawkish policy path.

Against a basket of currencies, the US dollar index settled at 104.37.

The bank's surprise The  yen fell about 0.2 percent to 132.67 per dollar on Friday, but it is on its way to achieving its third largest weekly gain this year, by more than 3 percent.

The Bank of Japan's surprise adjustment on Tuesday to allow the 10-year yield to move 50 basis points either side of its 0% target, wider than the previous range of 25 basis points, provided a strong impetus for the previously sliding yen. The central bank's move reinforced the market's expectations that it may be a prelude to the complete abandonment of the yield curve control policy.

Data released on Friday showed that Japan's core consumer inflation hit a 40-year high of 3.7% in November as businesses continued to pass rising costs on to households.

Minutes of the BoJ's October policy meeting released on Friday showed that some policymakers called for attention to how a future exit from ultra-low interest rates will affect markets and household mortgage rates.

In other currencies, the Australian dollar rose 0.13% to $0.6678, after falling 0.6% overnight.

The offshore Chinese yuan rose about 0.2% to 6.9975 per dollar.

Two sources told Reuters that Russia will start buying the yuan from the currency market next year if oil and gas revenues meet expectations, opening a new front in an accelerated campaign to remove the dollar aimed at reducing its dependence on Western financing. Ended 29 / M99

https://www.mawazin.net/Details.aspx?jimare=214890

Al-Rafidain Begins Selling Dollars To Citizens, Starting From Saturday

Economie| 10:34 - 12/22/2022   Baghdad - Mawazine News , Al- Rafidain Bank announced today, Thursday, the start of selling dollars to citizens at a price of 1465 dinars.

The media office of the bank stated in a statement, of which Mawazine News received a copy, that "in implementation of the directives of the Central Bank of Iraq regarding the sale of dollars, the bank has begun selling foreign currency, the dollar, for travel purposes, at an amount not exceeding 10,000 US dollars for each customer deposited in the Master Card issued by Al-Rafidain Bank at a price of 1464 Iraqi dinars per dollar.

The office called on “citizens wishing to obtain dollars to” review the Palestine Street branch on the Rusafa side and the Arab neighborhood branch next to Karkh, as of Saturday, corresponding to 12/24/2022. Ended 29 / H    https://www.mawazin.net/Details.aspx?jimare=214855

For The First Time.. Dollar Exchange Rates Exceed 152,000 Dinars In Baghdad

2022-12-22 03:28   Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar rose today, Thursday, in the main stock exchange in the capital, Baghdad, to exceed, for the first time "in two years," the barrier of 152,000 dinars for every 100 dollars.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded, at 12:00 noon today, an exchange rate of 152,350 dinars for every 100 dollars, indicating that the exchange rates for this morning had amounted to 151,750 thousand dinars.

Our correspondent indicated that buying and selling prices also rose in exchange shops in the local markets in Baghdad, where the selling price reached 152,750 dinars per 100 dollars, while the purchase price reached 151,750 dinars.

This increase, which exceeded 152 thousand Iraqi dinars for every 100 dollars, is the first since 2020, when the Iraqi parliament approved the general budget for the central bank to approve at an official exchange rate of 146 thousand dinars.   LINK

The Exchange Rates Of The Dollar In The Iraqi Market Today

Economie  2022-12-23 | 02:08  5,815 views   Alsumaria News – Economy   Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in the Iraqi local markets on Friday.

The selling price of the dollar was 152,500 dinars per 100 dollars, while the buying price of the dollar was 152,200 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 2021 budget approved by Parliament. LINK

Parliament Puts The Budget At The Top Of Its Priorities After Its Recess

Economie   2022-12-23 | 03:18  Source:  Sumerian   343 views   The legislative house is preparing to return from its recess early next month, awaiting the general budget law, which will be one of the parliament's first priorities at a time when citizens have high hopes about the projects and job grades that the law will contain.

There is no talk above talking about the general budget law, whether in the street or even in the halls of parliament, a budget that the citizen eagerly awaits and also the legislative house, which will be one of its first priorities after returning from the legislative recess, according to what representatives confirmed.

The next year's budget will bring excellent conditions in terms of financial abundance and large central reserves compared to previous years, which many rely on to be different in terms of investments and job grades.

While parliamentary circles confirmed their need for nearly two months to prepare the budget law inside the legislative house as soon as it arrived from the government, after which the law would be voted on.   LINK

"Tidbits From TNT" Friday Morning 12-23-2022

TNT:

Tishwash:  Al-Rafidain begins selling dollars to citizens, starting from Saturday

Al-Rafidain Bank announced, today, Thursday, the start of selling dollars to citizens for travel purposes, starting next Saturday.

And the media office of the bank stated in a statement received by Earth News Agency, “In implementation of the directives of the Central Bank of Iraq regarding the sale of dollars, the bank has begun selling foreign currency dollars for travel purposes, at an amount not exceeding 10 thousand US dollars for each customer deposited in the Master Card issued by the Rafidain Bank at a price 1465 Iraqi dinars per dollar.”

And he called on “citizens wishing to obtain dollars to review the Palestine Street branch on the Rusafa side and the Arab neighborhood branch next to Karkh, as of Saturday, corresponding to 12/24/2022. link

Yada:  Interesting articles by Tish,,"Rasheed Bank announces direct procedures for selling the dollar for travel purposes" and "Al-Rafidain begins selling dollars to citizens, starting from Saturday (Preview)",,,,wondering if the float will start if not already?

Speedy:  Pulling in more three zero notes !!!

KaseyKo1:  Yada, glad you came in this evening. I think I've gotten myself turned around with the program rate business. Loved reading the article that you're referencing. Do you know approximately what rate or program rate we should be seeing when an RI is done? Thanks.

Yada:  My understanding, with them going international, would mean they will not have a program rate. The article stated a program rate amount but from all Tony has stated the past few weeks, and a few other sites have commented on it as well, the low rate may be released. Seems like a winner to get the people of Iraq to give up their 25k notes and if trading with the dinar, I'd think they pairing with the dollar,, That $1.60 may be what we see,,,,,,,,LOL, just my think on the articles.

Strangersolo:  Hi everyone, if the IQD comes out on the old Forex at .25 1to 1 or $1.60 it should not matter for it will only be a few days weeks or months for the full RI/RV or GCR to take affect

RVAlready:  Hoping for an RV Jan 3. I think the govt does not want any real change until then. Otherwise, they would have delivered by Christmas, as promised.  This journey has taught me, anytime govt says good RV news, take it with a dump truck load of salt. Liars for decades!!!!!

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Tishwash:  US Firm Wins $134m Logistics Contract in Iraq

Texas-based Bell Helicopter, a wholly-owned subsidiary of Textron Inc., has been awarded a $134,592,912 modification (PZ0010) to contract W58RGZ-22-C-0012 for logistics services.

Work will be performed in Iraq, with an estimated completion date of Feb. 22, 2027.

(Source: US Dept of Defense)   link

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Tishwash:  Parliament places the budget at the top of its priorities after its recess

The legislative house is preparing to return from its recess early next month, awaiting the general budget law, which will be one of the parliament's first priorities at a time when citizens have high hopes about the projects and job grades that the law will contain

There is no talk above talking about the general budget law, whether in the street or even in the halls of parliament, a budget that the citizen eagerly awaits and also the legislative house, which will be one of its first priorities after returning from the legislative recess, according to what representatives confirmed

The next year's budget will bring excellent conditions in terms of financial abundance and large central reserves compared to previous years, which many rely on to be different in terms of investments and job grades.

While parliamentary circles confirmed their need for nearly two months to prepare the budget law inside the legislative house as soon as it arrived from the government, after which the law would be voted on.

link

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Tishwash:  The Iranian currency recorded the largest decline in its history

The Iranian riyal recorded, on Thursday, in the Tehran free market against foreign currencies, a new collapse, the highest since the "Iranian Revolution" in 1979, as the price of the US dollar exceeded the value of 400,000 Iranian riyals.

Websites dealing with banking affairs in Tehran, including the "Sadaqa" exchange, which is one of the largest exchanges, offered the value of US dollars trading at 410,000 Iranian riyals, according to Eram Network.

State banks offered the price of the US dollar at 362,000 Iranian riyals, according to the Iranian "Tijara News" website.

The site indicated in a report that some financial market analysts believe that the price of the dollar will rise if there is no favorable news about the nuclear negotiations of the Joint Comprehensive Plan of Action (the nuclear agreement).

The report stated that "the riyal will face a difficult winter in Iran in the event that there is no news of the return of nuclear negotiations," adding: "Since last Tuesday, the price of the dollar has fluctuated between rise and fall."

The government of Iranian President Ebrahim Raisi blamed the turmoil in the currency and auto markets on the so-called "enemy" and "previous governments".

The price of all types of cars has risen between 300 million ($800) and one billion Iranian riyals ($2,600) in the past few days, while market experts expect this increasing trend to continue in the coming months, especially in the car market.

On Tuesday, government spokesman Ali Bahadri Jahromi accused Hassan Rouhani's government of manipulating the currency market, and said, "Raisi's government is not like a government in which the price of the dollar has increased more than ten times."

The government official also said about the rise in the exchange rate to 400,000 riyals that this "temporary price increase" should not be used as a basis for judgment, and if "liquidity creation is curbed, the impact will be tangible," as he put it.   link

Mot:  .. Hey!! -- Wake Up Dude!! ~~~~~

Mot: .... the Joys of Wrapping Paper! ~~~~

Thursday Evening Iraq Parliament News Highlights 12-22-22

Thursday Evening Iraq Parliament News Highlights 12-22-22

Al-Hakim calls for support for the Sudanese government and (patience with it)

Political | 11:27 - 12/22/2022   Baghdad - Mawazine News, the head of the Wisdom Movement, Ammar al-Hakim, called today, Thursday, to support the government of Prime Minister Muhammad Shia' al-Sudani and "patience with it."

Al-Hakim said, in a statement received by Mawazine News, that "in the presence of the governor of Al-Muthanna, Ahmed Manfi, the host of Sheikh Ghassab Jari Hussein Al-Mashaalawi, Sheikh of the Al-Masha'ala Bani Hakim clan, it was our first stop when we visited Al-Muthanna Governorate, where we recalled the common history that brought us together with the people of this noble clan and the common positions." In great stations in the history of Iraq in fighting dictatorship and confronting terrorism.

Al-Hakim added, "We showed that Iraq paid a tax for its political and democratic system and the freedom that the Iraqi people enjoyed after the fall of the dictatorship. We called for pride in the honorary march that the Iraqis presented in defense of their homeland, and we stressed the need to remember and immortalize the martyrs' heroism in the fight against terrorism."

He continued, "We referred to the causes of the political crisis in the past year and attributed it to the imbalance produced by the political elections between the number of seats and the number of votes, between political representation and political weight, and between the number of voters and the number of participants, and we confirmed that there is a plan that contributed to these unbalanced results."

Al-Hakim called for "supporting the Sudanese government and being patient with it as long as the indicators indicate that it is moving in the right direction," explaining, "the nature of government performance in the past few years and the priority of the governorates in it, as well as the prime minister's briefing on most of the problems by virtue of the positions he occupied." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=214799

Accountability and Justice" rejects the government's request to transfer the commission's files to the judiciary: it has no powers

Posted On2022-12-22 By Sotaliraq    Baghdad / Tamim Al-Hassan   The Accountability and Justice Commission (formerly de-Ba'athification) rejected the government's request to transfer its archives and files to the judiciary in preparation for its closure.

The last government request came in accordance with the ministerial program and the political agreement concluded between the forces of the ruling coalition (the State Administration).

The Commission confirms that there are millions of documents still on the way to scrutiny, and bear the names of a large number of those covered by the de-Baathification procedure.

The audit of most documents was delayed for more than 15 years, for reasons that may be “deliberate,” according to sources, and administrative delay, according to what the commission says.

There are at least one million Iraqis covered by the eradication, at least 25% of whom are from the former security services.

The Sunni forces have always seen de-Baathification as a tool of repression and a card against opponents that often appears during the election seasons.

And about the fate of the Accountability and Justice Commission following the recent political agreement, Basem Al-Badri, head of the commission, said in an interview with (Al-Mada): “The government’s request cannot be implemented at the present time.”

Al-Badri added, "We will not transfer our files and archives to any other party, and there is not yet any authority that can do that or terminate our work."

And the head of the commission continued: “We are still working according to Law No. 10 of 2008, and we will not implement the decision to transfer our files unless Parliament enacts a new law that cancels the old ones and sets a mechanism for transferring the archives and the end of our missions within clear time periods.”

According to what Al-Badri confirmed and leaked during the past two days, the government sent a request to the Commission requesting, based on the ministerial curriculum based on the political agreement, that the latter submit a report on the numbers of those covered by the Commission’s procedures within a month of the formation of the government.

According to the letter sent from the Prime Minister’s office to the Commission, the latter must submit the names of those included among “members of the teams (in the Baath Party) and above, the working member who enriched at the expense of public money by a final judicial decision, and the members of the repressive apparatus.”

Al-Badri says, commenting on the last paragraph, that: “The working member of the Baath Party who enriched at the expense of public money is not our competence, but rather the jurisdiction of the judiciary to decide on it.”

Al-Badri confirmed that what was stated in the leaked document is that the files and archives of the commission are deposited with two parties: the Secretariat of the Council of Ministers, the Judicial Council - the Public Prosecution, and subsequent inquiries about ablation cases are with these two parties only.

The government letter addressed to the Accountability Commission also indicates that those involved in the de-Baathification procedures have the right to object to the Judicial Cassation Commission.

Al-Badri revealed that "the authority entered from 2014 to the current year more than 7 million documents, and there are other significant numbers awaiting the entry process."

And the head of the commission stated that "these documents represent correspondence, official books, and names of people from among the former security services, the army, and the Baath Party."

And he added, "The entry process is a complicated one due to the similarity of names in some documents, and after that we must protect the document from manipulation or distortion, as we put special protection programs."

And Al-Badri indicated that “the files that are entered are available with the commission from 2004 and 2005, but their entry was delayed due to delay when transferring work tasks from the de-Baathification commission to accountability and justice.

The head of the commission indicated that the estimated numbers of those covered by the eradication procedures “touches one million individuals, only 250 thousand individuals in the former regime’s services from intelligence and intelligence, national security, and private security, in addition to other numbers from the army belonging to the party, and twice as many as the first number is from the civilians included.” Authority procedures.

Al-Badri explained that the accountability commission is one of the transitional justice bodies, which must have a certain period of time and end its work, but he says: “The security challenges of the political system and the threats affected the setting of real standards for following up these bodies and setting a time limit for the end of their tasks.”

The Sunni forces, which are the parties most in Iraq that seem to be targeted by the de-Baathification measures, have tried several times to transfer this file to the judiciary, and considered the delay in resolving the names of those involved behind it as political and punitive motives.

In 2016, a political agreement was reached between what was known as the “National Alliance”, which is the political umbrella for the Shiite forces and the Sunni parties, to enact a law called “Accountability and Prohibition of the Dissolved Baath Party.”

The new law included 22 articles after the “ban of Baathism” had been lifted, provided that the latter would be introduced by law alone.

In the end, the Sunnis, in accordance with the agreement with the Shiites, voted for the Ban-Baathification Law in 2016, while the other law has not yet been enacted.

Six Sunni ministers had refused, in February 2015, to pass amendments (the eradication law) within the Council of Ministers, due to fears that it would turn into a “trap” to punish all opponents of the government on charges of belonging to the Baath Party.

The Alliance of Forces - the political umbrella for the Sunnis - had hoped that the (accountability and justice) law would be completely abolished, converted into a judicial file, and not put an appendix in the law stating that the Baath Party would be banned "without clear controls."

The final draft of the Accountability Law provided for the replacement of the current Commission for Accountability and Justice, which was formed according to Law No. 10 of 2008, with another that bears the same name according to a new law, transferring with it all the previous rights and obligations and the former employees as well.

In his turn, the representative of the State of Law Coalition, Aref Al-Hamami, confirmed the agreement of the political forces to “close the eradication file and dissolve the accountability body.”

Al-Hamami said in a phone call with (Al-Mada) that "the government must adapt the legal situation to transfer the authority's property to the judiciary."

Al-Hamami, a member of the Parliament's Legal Committee, said, "The government's request to the commission to transfer its files is not considered a solution to the commission and an end to its duties."

And the deputy indicated that “the dissolution of the commission after transferring its property to the judiciary is by enacting a new law that cancels the previous law.  LINK

It Was Proposed By Iraq And Countries.

2022-12-21 03:41    Policy Iraq United Nations Countries   Shafaq News/ The Iraqi Ministry of Foreign Affairs announced, on Wednesday, that the United Nations General Assembly had adopted a draft resolution entitled “International Day for the Prevention of Violent Extremism Conducive to Terrorism.”

The ministry said in a statement today that this project was submitted by Iraq in partnership with the State of Qatar, the Hashemite Kingdom of Jordan, and the Sultanate of Oman, under Items 14 and 121 of the agenda of the General Assembly at its seventy-seventh session, where 36 countries sponsored the resolution.

Thus, February 12 officially became the International Day to Prevent Violent Extremism Conducive to Terrorism, according to the statement.

In mid-2014, ISIS invaded vast areas and cities estimated at two-thirds of Iraq's area, before the Iraqi forces, backed by the international coalition led by the United States of America, managed to recover it from the grip of the extremist organization in a three-year military operation.  LINK

The Federal Minister Of Justice Receives The Head Of The Kurdistan Regional Government Representative Office In Baghdad

Posted On2022-12-22 By Sotaliraq   Professor “Faris Issa”, the head of the representative office of the Kurdistan Regional Government in Baghdad, on Wednesday morning (12/21/2022), visited the Federal Ministry of Justice and was received by Mr. “Khaled Shawani”, the Minister of Justice.

During the meeting, the government platform of the Federal Prime Minister, "Mohammed Shia'a Al-Sudani," was discussed and discussed, as well as the agreement signed between the forces forming the state alliance.

The two sides stressed the need to implement the government platform and the political agreement between the state alliance, which will solve many of the political complexes facing the government.

Baghdad, especially the region's share of the federal budget for the next year, and the activation of the Article 140 Implementation Committee and the Oil and Gas Law, which is one of the main problems between Baghdad and Erbil.   LINK