Monday Morning Iraq Economic News Highlights 1-9-23

Monday Morning Iraq Economic News Highlights 1-9-23

The Dollar Is Going Crazy.. A Historic Collapse Of The Iraqi Dinar On The Local Stock Exchange

MONDAY, 01-09-2023, PM 1:37   KARRAR AL-ASADI   Today, Monday, the exchange rates of the US dollar against the Iraqi dinar jumped on the main stock exchange in the capital, Baghdad.

The correspondent of the Noon news agency said that the Central Al-Kifah and Al-Harithiya Stock Exchange in Baghdad recorded, at 1:00 pm, 158,400 Iraqi dinars for 100 US dollars.  While the prices during its opening this morning were 157,300 dinars, compared to 100 dollars.

Our correspondent indicated that the buying and selling prices increased in the exchange shops in the local markets in Baghdad, where the selling price reached 159,000 Iraqi dinars per 100 US dollars, while the purchase price reached 158,000 Iraqi dinars per 100 US dollars.

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Al-Maliki's Coalition: Government Intention To Reduce The Exchange Rate Of The Dollar To 137,500

2023-01-09 04:35   Shafaq News/ The State of Law Coalition, led by Nuri al-Maliki revealed, on Monday, the intention of the government of Muhammad Shia' al-Sudani to reduce the price of the dollar in the 2023 budget bill.

The leader of the coalition, Fadel Mawat, told Shafaq News agency, "The reasons for the dollar's high exchange rate are American intervention and pressure, after the intention of the government of Muhammad Shia' al-Sudani to reduce the dollar and restore it as it was previously before it was raised by the government of Mustafa Al-Kadhimi."

And he indicated that "the government of Muhammad Shia'a al-Sudani is working to address the reduction of the exchange rate of the dollar through the budget for the year 2023, which it is hoped to vote on next March, and the potential new price is 137,500 dinars per 100 dollars, according to the proposal submitted by the leader of the State of Law coalition, and this number It is the closest to fixing it within the budget.

It is noteworthy that the exchange rate of the US dollar against the Iraqi dinar ranged between 118 thousand dinars to 125 thousand dinars for every 100 dollars, according to market fluctuations and currency speculation, until the end of the year 2020 before the previous government headed by Mustafa Al-Kazemi raised the exchange rate to 145 thousand dinars against $ 100 in the 2021 budget, which aroused the discontent of the popular, political and economic circles.

However, this price was approved according to the previous government. It did not settle when the Iraqi parliament voted to give confidence to the new government headed by Muhammad Shia’ al-Sudani on October 30, 2022. Rather, it jumped days after his government assumed its duties, to exceed 150 thousand dinars per 100 dollars, and it reached in some cases The days to 158 thousand dinars for 100 dollars, while the exchange rate today, while writing this news, exceeded 158 thousand dinars for every 100 dollars.   LINK

The Iraqi Central Bank Expands The Circle Of Dollar Cash Distribution In An Effort To Reduce Its Price

Baghdad - Iraq today:   The Central Bank of Iraq decided to include banks that are allowed to participate in the electronic platform and wish to sell cash dollars for the purposes of travel, treatment and study.

The Central Bank announced its decision to allow the aforementioned banks to sell cash dollars, stressing the expansion of the number of outlets selling foreign currency in bank branches in the capital, Baghdad, under direct supervision by the inspection teams of this bank.

It is noteworthy that the Central Bank had earlier expanded the number of bank outlets for selling foreign currency from 10 to 20 banks, after the success achieved by its initiative to enhance the stability of the currency market.

This comes within the framework of the Iraqi government's efforts to control the price of the dollar in the Iraqi currency market, and to raise the exchange rate of the Iraqi dinar against the US currency. LINK

Parliamentary Finance: The New Appointments Produced A Huge Operational Budget...And Oil Is Likely To Decline

Yes Iraq: Baghdad   The Parliamentary Finance Committee confirmed today, Monday, that the recent appointments produced a huge operating budget, indicating that the budget makers did not take into account that oil prices are likely to decline.

Committee member Nazem Al-Shibli said, “The price of a barrel of oil did not exceed $70 with the old exchange rate of 1450, and the government is blamed for the lack of clarity in the economic vision on the issue of oil. It is true that the Russian war in Ukraine has increased prices, but it is likely to decline if it ends, and Iraq does not He has financial alternatives.”

And he considered that “the budget writers had to pay attention to its investment nature, not the explosive one, in order to be able to produce new projects, because the new appointments will put pressure on the general budget, which produced a very huge operational budget,” noting that “the government is obligated to present its strategic plan for the budget, as the Finance Committee is not obligated By implementing everything that is sent, because we need important strategic plans.”

He pointed out that “Parliament has many complaints in this regard, including government outlets, collection and customs, which in total constitute only 5 percent of the revenues. Even if Parliament is delayed, because it was the government that was late in achieving it in the first place.  LINK

Deputy: The Approval Of The Oil And Gas Law Will Be In The Current Parliamentary Session

Last Updated: 9 January 2023 -   Baghdad / Iraq News Network - Framework MP Rafiq Al-Salhi said on Monday that the adoption of the oil and gas law during the current parliamentary session, indicating that the situation necessitates all political forces to approve the law due to its importance. He added in a press interview, "The agreement concluded within the State Administration Coalition provides for the enactment of many controversial laws, the most important of which is the legislation of the oil and gas law." He added that "the law was delayed for more than one parliamentary session and will see the light of day due to its importance to the country and its economic situation," adding that "the legislation of this law to solve all problems between Baghdad and Erbil over the oil file."    LINK

The Central Bank Continues To Put Medicine Away From The Wound.. More Outlets For Cash Sales And Leave The Problem Of Foreign Remittances

The Central Bank continues to put medicine away from the wound.. More outlets for cash sales and leave the problem of foreign remittances  LINK

Iraq news  Yes Iraq: Baghdad    The Central Bank of Iraq continues to take “hovering” measures around the main problem of the dollar’s​​rise. The central bank is still dealing with the issue of providing cash dollars, at a time when experts agree that the problem of the dollar’s ​​rise is linked to the demand for foreign remittances, not the cash circulating in the markets.

In the latest measure, the Central Bank of Iraq announced the opening of a new outlet to sell dollars in cash to travelers at Baghdad International Airport through the Trade Bank of Iraq.

And he explained that “the sale will start starting tomorrow, Tuesday, 10/1/2023, for travelers, with a maximum of (5000) US dollars.

It is noteworthy that “the Central Bank of Iraq expanded earlier the number of bank outlets for selling foreign currency from 20 banks to include all covered and willing banks.”

The bank described that this measure came “after the success achieved by its initiative to enhance the stability of the currency rate in the local markets, and confirms that the rise in the exchange rate is a temporary situation.”

The Central Bank says this claim of “the success of its procedures,” while the price of the dollar in the market today, Monday, reached 160,000 dinars per 100 dollars.

The failure of the central bank to control the price of the dollar comes as a result of its insistence on dealing with something that does not have a problem, as it deals with another detail that has nothing to do with the main problem, as the bank continues to pump dollars for stable monetary demand, at a time when the rise in the dollar comes as a result of the huge demand for foreign remittances. Which began to meet its demands through the parallel markets, which led to an increase in the dollar in it.  LINK

 The Central Bank Opens An Outlet For Selling Dollars At Baghdad Airport And Puts A Ceiling On The Amount

LINK

The Central Bank Opens An Outlet For Selling Dollars At Baghdad International Airport

Baghdad-conscious   Today, Monday, the Central Bank of Iraq announced the opening of an outlet for selling dollars at Baghdad International Airport.

And the Central Bank stated, in a statement received by the Iraqi News Agency (INA), that “the Central Bank of Iraq opened a new outlet for selling dollars in cash to travelers at Baghdad International Airport through the Iraqi Trade Bank ( TBI ), stressing that “the sale will start starting tomorrow, Tuesday.” For passengers with a maximum of (5000) US dollars.

The statement indicated that "the Central Bank of Iraq had earlier expanded the number of bank outlets for selling foreign currency from 20 banks to include all included and willing banks, after the success achieved by its initiative to enhance the stability of the currency price in the local markets."

He stressed that "the rise in the exchange rate is a temporary situation."

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"Tidbits From TNT" Monday Morning 1-9-2023

TNT:

CandyKisses:  Parliamentary investment: Monetary policy has led to the accumulation of money in homes

Information/Baghdad.The Investment Committee in the House of Representatives,  that the fear of Iraq's monetary policy pushes citizens to store money in their homes..

Committee member Muhammad al-Ziyadi said, in an interview seen by / information /, that his committee "is working on how to develop the banking sector in order to support the private sector through dealings in granting advances, loans, profits and interest," stressing "the need to adopt a policy of currency circulation." 

Al-Ziyadi added, "There are many issues that must be discussed with those in charge of the central bank or those responsible for the financial sector, in order to limit the storage of money in the coffers of citizens' homes because of their fear of the country's monetary policy." 

Tishwash:  as far as I know the next meeting is Tuesday (tomorrow?)

Finance completes the budget with 140 trillion dinars (1/9)

t is assumed that the Minister of Finance, Taif Sami, will present the draft budget law to the Council of Ministers at its next meeting in the coming hours, after completing writing the highest budgets for Iraq in its history, with a value exceeding 140 trillion dinars, containing in the folds of its papers the largest operational part in the country’s modern history, estimated at 80 trillion. A dinar that included government expenses and the salaries of its employees. 

The rising numbers of salaries due to the new jobs worry the majority of economists, as most of them have warned that the price boom in the oil markets will not continue, and that Iraq's dependence on them should have decreased a decade ago. This comes at a time when the parliamentary circles concerned with the budget are referring to the tendency to A "political agreement" on the budget before it is passed.

A member of the Parliamentary Finance Committee, Mueen Al-Kazemi, told Al-Sabah: “The Ministry of Finance has accomplished what it had to and transferred the budget, in its operational and investment parts, to the Council of Ministers for voting,” noting that “the Council of Ministers met last week with the Ministerial Economic Council and put amendments and final touches on the budget.” estimated at 140 trillion dinars, with 80 trillion for operational and 60 trillion for investment.

Al-Kazemi added, "If the budget reaches Parliament early next week, the Finance Committee will study it, and there will be two first and second readings and some amendments to be approved at the end of next February," noting that "the operational budget, which includes the salaries of state employees, rose from 42 trillion to 60 trillion." One trillion dinars, which will exhaust the public budget in the future, and will mean serious problems in the event of a drop in global oil prices, and it is necessary to find resources other than oil, by supporting the private sector, investment, and advancing the agricultural and industrial reality.

Al-Kazemi's colleague in the Finance Committee, Representative Nazim Al-Shibli, said: "The budget, whose completion was delayed, must fit the government program and be consistent with the issues of the workforce, fixing contracts, lecturers, and their contracts, all of which needed the government's vote."

Al-Shibli added, in an interview with "Al-Sabah", that "the price of a barrel of oil did not exceed 70 dollars with the old exchange rate of 1450, and the government is blamed for the lack of clarity of the economic vision on the issue of oil. It is true that the Russian war in Ukraine has increased prices, but it is likely to decline in If it ends, and Iraq does not have financial alternatives,” considering that “the budget writers had to pay attention to its investment nature, not the explosive one, in order to be able to produce new projects, because the new appointments will put pressure on the general budget, which produced a very huge operational budget.” 

Al-Shibli stated, “The government is obligated to present its strategic plan for the budget. The Finance Committee is not obligated to implement everything that is sent because we need important strategic plans,” explaining that “   link

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Tishwash:  apparently the budget is done you guys and the council of Ministers should have it Tuesday this article is dated tomorrow

Doby45:  Thank you Tish! Much appreciated! One of these days and hopefully sooner than soon we can “live the dream.”

Yada:  If I'm not mistaken, this dinar will still float internationally and not just in country. That will move up the price.

RVAlready:  After all of the committee meetings that have done all the details of the budget, I can’t imagine the CBI waiting for a budget from parliament.

RVAloready:  Encouraging major RV riots in Iraq.   Now that it is January, the IMF needs to turn the RV heat back to boiling, and not let up

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Tishwash:  Al-Nusairi: The return of the exchange rate to its target rates will be achieved by revitalizing and stabilizing the economy.

The advisor of the Association of Private Banks, Samir Al-Nusairi, affirmed, on Monday, that the return of stability in the exchange rate to its target rates from the central bank is achieved by stimulating and stimulating the economy and overcoming the challenges of achieving economic stability, which means achieving stability in the financial system and the monetary system, and this is not only the duty of the central bank alone, but rather a duty Fundamental to fiscal policy and the government's methodology in managing the economy and activating non-oil sources of national income.

And Al-Nusairi told Al-Eqtisad News: “Before the end of 2022, the money market entered with a new challenge of monetary policy, which is the rise in the exchange rate of the dinar against the US dollar from the specified and targeted price of the Central Bank, which is 1470 dinars for sale to the public, merchants, businessmen and importers due to international and local technical requirements.” It led to a decrease in the daily rates of foreign currency sales in the window, and the exploitation of speculators and the yellow media by trying to benefit personally and harm the relative stability of the economy that was achieved during 2022.

 He added, "The expectations of the Central Bank and the specialists hope for a decrease in the price during the coming days due to the measures taken by the Central Bank to increase the supply of the dollar through government and private banking outlets and during all days of the week, including Fridays and official holidays, and under the supervision and field supervision of the Central Bank."

He pointed out that "the criterion approved and confirmed by the Central Bank and the specialists in achieving this is the availability of cash reserves of foreign currency exceeding 96 billion dollars, and the continued flow of dollar revenues from oil sales on a daily basis, according to the planned quantities and the current high prices of the product, which are expected to continue to rise during 2023, as expected by energy experts." to exceed $100.

Al-Nusairi saw, through economic analysis, that the decisive solution to control the money market is to find immediate and strategic solutions to the complex and accumulated challenges and repercussions that the Iraqi economy suffers from, for systematic and structural economic reasons, and the failure of the concerned government agencies to stimulate and activate the productive economic sectors, which official data indicate that the percentage of the contribution of this sector Agriculture and industry in the GDP do not exceed 4.77% and 1.67%, respectively, which are very weak percentages, and the 2022 budget

Its features and indicators are not yet clear, and we expect that it will not be approved before the end of the first quarter of this year. And the statistics announced by the Ministry of Planning on the numbers of the population and their classifications, especially the youth group within the working age, which constitutes up to 60% of the total population, and the high poverty rate at a rate of 25% and exceeded 40% in some southern governorates such as Nasiriyah, Maysan and Muthanna, and the high unemployment rate at an average rate exceeding 31% of Those who are able to work with a clear deficit in the balance of payments, which led to a state of stagnation and economic contraction, is considered one of the most prominent greetings of monetary policy and requires support and attribution of the plans and procedures of the Central Bank, clarity of financial policies and continuous coordination with monetary policy.

 Al-Nusairi concluded his speech by saying that "the methodology of advancing and reforming the Iraqi economy and achieving economic growth and stability in 2023 requires exceptional efforts, programs, mechanisms and governmental procedures in partnership with the private sector and specialized national competencies, and the most important thing is sincere and true intentions for change towards the desired economic advancement with an emphasis on supporting the banking sector as the main link first in economics     link

Mot:  ~~~ After 37 Years of ..............

Mot:  .. Attention - Attention ~~ Now Entering Second Stage We Is!! ~~

Frank26 and KTFA Members "News and Views" Sunday 1-8-2023

KTFA:

Frank26:  "WTO MEMBERSHIP DOES NOT REQUIRE A HIGH EXCHANGE RATE... BUT IT CERTAINLY REQUIRES AN INTERNATIONAL EXCHANGE RATE... ARTICLE 8.".......... F26

Government movement to complete the requirements for Iraq's accession to the World Trade Organization

1/04/2023

Baghdad - Conscious - Nassar Al-Haj 

Today, Wednesday, the Ministry of Commerce detailed its plan to complete the requirements for Iraq's accession to the World Trade Organization.

The media center in the ministry stated, to the Iraqi News Agency (INA), that "the committee concerned with Iraq's accession to the World Trade Organization, headed by the Minister of Commerce and membership of representatives of ministries and agencies, as well as representatives from the private sector, is working to complete the requirements for Iraq's accession to the organization."

He explained, "The ministry's plan during the current year includes completing technical accession files in terms of goods, services and intellectual property, in addition to harmonizing legislation and laws with the agreements of the multilateral organization."

He pointed out that "the plan includes holding official meetings in the organization in Geneva, and that there be high coordination

 With the member states that carry economic weight in the organization to mobilize support and speed up accession procedures and make Iraq an active member and partner in making economic decisions and drawing trade policies that enhance Iraq's integration into the global economy.

He pointed out that "the Minister of Trade confirmed - within the prepared plan - the preparation of the Iraqi negotiating team, which will engage in negotiating rounds with the member states of the organization by strengthening the negotiating capabilities of the members and benefiting from the experiences of the countries."   LINK

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Frank26:  IT'S BEEN YEARS KTFA FAMILY... BUT HERE IT IS, WHAT WALKINGSTICK & I CALLED THE 2ND ARTICLE FROM THE CBI!!!"......... F26

Central Bank Governor: The dollar exchange rate crisis is temporary and the monetary situation is at its best

1/08/2023

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, confirmed that the bank has taken a series of measures that enhance monetary stability and push for the return of exchange rates to normal, while noting that the bank has sufficient reserves until February 2024, “which is a very sufficient period to correct imbalances in the balance.” Payments in case Iraq's imports are exposed to any imbalances.

"The dollar exchange rate crisis is a temporary crisis resulting from internal and external factors that coincided with the end of the year," Makhaif said in an interview with "Al-Jazeera Net" and followed by "Al-Iqtisad News", speaking about the causes of the dollar crisis that Iraq recently witnessed and the measures taken by the bank to reduce it.

He added, "The Iraqi Central Bank has taken a series of measures that enhance monetary stability and push for the return of exchange rates to normal, including: allowing banks to participate in the window for buying and selling foreign currency to be used for external transfer, and working to facilitate procedures for obtaining dollars through banks, and facilitating Financing private sector trade and meeting the demand for foreign transfers by strengthening bank balances with their correspondents in other currencies.

He pointed out that "a series of measures to limit this crisis went to reduce the selling price of the dollar to the beneficiary (the card holder) who uses it while traveling or pays his purchases via the Internet at a price of 1465 dinars per dollar."

He went on to say, "The monetary situation in Iraq is at its best, and there is no need for that crisis that has caused fears of public opinion, just as the situation in Iraq is much better than that of other countries."

He spoke about the repercussions of the rise in the reserves of the Central Bank of Iraq and its arrival to more than 97 billion dollars on the Iraqi economy, saying that "there are several repercussions, including: defending the national currency exchange rate against foreign currencies and maintaining coverage of imports for a period of more than 6 months, as he was able to The central bank has built a cover for imports for a period of more than 17 months at the end of the third quarter of 2022, meaning that the central bank has sufficient reserves until February 2024, which is a very sufficient period to correct imbalances in the balance of payments in the event that Iraq's imports are exposed to any imbalances.

He continued, "The foreign reserves index to money supply in the broad sense is high and reached 81%, which is an indicator that enhances confidence in the Iraqi dinar as a store of value, as well as preserving the value of the national currency by ensuring the stability of the exchange rate as a nominal stabilizer for inflation."

He added, "There are other benefits that come from increasing the volume of reserves with the central bank, including: an indicator of the strength and flexibility of monetary policy, and the reserves can also contribute to raising the indicators of creditworthiness of Iraq with international rating institutions."

The Governor of the Central Bank touched on the reasons for issuing a new denomination of the local currency, saying, “The issuance of the new denomination is a procedure to modify the structure of banknotes and introduce an intermediate denomination that facilitates daily transactions, reduce the presence of old versions of currency denominations in circulation, and adopt modern security specifications in designing the denomination.” new technologies to reduce counterfeiting, especially since counterfeiting methods have developed thanks to technological development.   LINK

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Henig:  20,000 dinars denomination.. The Central Bank talks about issuing a new currency: counterfeiting is a "development"

 Baghdad today-Baghdad

The Governor of the Central Bank, Mustafa Ghaleb Makhaif, confirmed today, Sunday, that there are 4 benefits for issuing a new denomination of the Iraqi currency, indicating that the methods of counterfeiting the currency have developed.

Makhaif said, in statements to Arab media followed by (Baghdad Today), that “the issuance of the new denomination is a procedure to modify the structure of banknotes and introduce an intermediate denomination that facilitates daily transactions, reduce the presence of old versions of currency denominations in circulation, and adopt modern security specifications in designing the new denomination to limit of counterfeiting operations,” noting that “counterfeiting methods have evolved thanks to technological development.”

Last September, the Central Bank announced its intention to issue a new currency of the category of 20 thousand dinars.   LINK

Clare:  Al-Janabi: The Central Bank is able to restore confidence in the Iraqi dinar soon

2023-01-07

Representative Ziyad Al-Janabi confirmed, on Saturday, that the Central Bank of Iraq is able to restore confidence in the value of the dinar soon, while indicating that the bank lent the government and saved it from going into the unknown.

Al-Janabi said in an interview with Alsumaria News We appreciate the position Central Bank of Iraq Who supported the Iraqi government with a cash loan of more than 30 billion dollars and saved it from going into the unknown at the time.

Al-Janabi referred to "the ability Central Bank of Iraq to overcome the current crisis facing the dollar in the local market," stressing that "the central bank has taken successful strategic steps to end the current crisis."
And Al-Janabi indicated that "this problem, which confused the state of the Iraqi market, will soon be resolved, and the central bank is able to restore confidence in the value of the Iraqi dinar and adjust technical matters in the near future," stressing by saying that "the central bank has been able to raise the value of the dollar and gold reserves to a strategic amount, including a safe maneuver." Good for the Iraqi government."   LINK

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Henig:  Iraq drops part of Somalia's debts for its difficult circumstance

Baghdad today - follow-up

The Director of the Department of the Horn of Africa and Sudan at the League of Arab States, Zaid Al-Sabban, confirmed that Iraq had informed the League of an official memorandum stating that part of Somalia's external debt owed to Iraq had been forgiven.

Al-Sabban said, in press statements followed by (Baghdad Today), that "the successive Arab summit decisions asked Arab countries and funds to exempt Somalia from its foreign debts, given the exceptional circumstances that faced the Somali state over the past decades."

He pointed out that Egypt has allocated a number of planes loaded with humanitarian aid to Somalia to confront the Corona crisis and the drought crisis.

 He stressed that there is a huge work being done by many Arab member states of the League, such as Saudi Arabia, Qatar, Kuwait and the UAE, and that there is material and financial support provided by these countries and their development funds in favor of Somalia, which helped a lot in facing some challenges such as drought and food crisis and facing the repercussions of the war against terrorism, which greatly affected millions of Somalis and led to their displacement away from their villages and homes.

And Iraq had called, in March of last year 2022, on Somalia to pay off the debts incurred by it, while it issued an official invitation to the foreign and finance ministers of this country to visit the capital, Baghdad.   LINK

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Henig:  Kurdish deputy to / NINA /: The budget will reach Parliament during the current week.. and it will be legislated as soon as possible

08 January 2023

A member of the House of Representatives for the Kurdistan Democratic Party, Sabah Sobhi, confirmed: The budget will reach Parliament during the current week.. and it will be legislated as soon as possible.

He told the National Iraqi News Agency / NINA /: There is a serious move by the political blocs in order to pass the budget as soon as possible, despite the existence of some outstanding issues.

Sobhi added: We will vote on the budget before oil and gas because it is more important than it, as this law can be delayed.

And a member of the Parliamentary Finance Committee, Mueen Al-Kazemi, said that the budget may be completed during the current week.

Al-Kazemi said in a televised statement yesterday evening: There is a political consensus regarding passing the 2023 budget, which may reach 140 trillion dinars.

He added: The investment sector will have 60% of the budget, and the proportion of the region in it will be more than 13%   LINK

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Henig:  The legislative recess ends tomorrow.. The House of Representatives reporter to / NINA /: We await the arrival of the general budget during the current month to proceed with its approval

08 January 2023

The Parliament will officially end its legislative recess tomorrow, Monday, while the parliamentary committees and circles are still awaiting the arrival of the draft federal budget law 2023, which the Council of Ministers has not decided to approve, pending the ministerial committees’ completion of drafting the final amendments.

Parliament Rapporteur, Representative Beida Khader, stated, in a statement to the National Iraqi News Agency / NINA /, that "the general budget 2023 is still with the Ministry of Finance, and the legislative recess for the House of Representatives ends tomorrow, Monday, and then the beginning of the new legislative term, and therefore we are awaiting the completion of the draft budget law." during the current month and send it to parliament quickly for approval by a vote.

And she explained, "The House of Representatives proceeded with presenting and approving important legislation. The Presidency of the Council also decided to extend the parliament's work for a month at that time, pending the arrival of the general budget from the government, but so far it is still incomplete."

And she added, "If the general budget reaches the House of Representatives, there is supposed to be a special session to read and discuss it by the Finance Committee and other concerned committees, to proceed with presenting it to a vote."

And the Presidency of the House of Representatives decided, on the eighth of last November, to extend the second legislative term / the first legislative year / the fifth electoral cycle, by one month, based on the provisions of Article (58 / second) of the constitution; This is to complete a number of necessary tasks and legislation.   LINK

Iraqi News Highlights Sunday Afternoon 1-8-23

Iraqi News Highlights Sunday Afternoon 1-8-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Issues A New Directive To Banks Regarding Currency Sales For Foreign Transfers

Economie| 03:09 - 08/01/2023   Baghdad - Mawazine News   The Central Bank of Iraq issued today, Sunday, directives to ministries regarding currency sales for foreign transfers.

And according to a bank letter received by Mawazine News, "Due to the launch of the electronic platform for external transfers at the beginning of the current year, the Central Bank of Iraq welcomes your requests to finance your obligations, transactions, and contracts with abroad in foreign currency and at the official rate."     https://www.mawazin.net/Details.aspx?jimare=216180

The Legislative Recess Ends Tomorrow.. The House Of Representatives Reporter To / NINA /: We Await The Arrival Of The General Budget During The Current Month To Proceed With Its Approval

Sunday 08 January 2023 13:30 | political Number of readings: 397

Baghdad / NINA /- The Parliament will officially end its legislative recess tomorrow, Monday, while the parliamentary committees and circles are still awaiting the arrival of the draft federal budget law 2023, which the Council of Ministers has not decided to approve, pending the ministerial committees’ completion of drafting the final amendments.

Parliament Rapporteur, Representative Beida Khader, stated, in a statement to the National Iraqi News Agency / NINA /, that "the general budget 2023 is still with the Ministry of Finance, and the legislative recess for the House of Representatives ends tomorrow, Monday, and then the beginning of the new legislative term, and therefore we are awaiting the completion of the draft budget law." during the current month and send it to parliament quickly for approval by a vote.

And she explained, "The House of Representatives proceeded with presenting and approving important legislation. The Presidency of the Council also decided to extend the parliament's work for a month at that time, pending the arrival of the general budget from the government, but so far it is still incomplete."

And she added, "If the general budget reaches the House of Representatives, there is supposed to be a special session to read and discuss it by the Finance Committee and other concerned committees, to proceed with presenting it to a vote."

And the Presidency of the House of Representatives decided, on the eighth of last November, to extend the second legislative term / the first legislative year / the fifth electoral cycle, by one month, based on the provisions of Article (58 / second) of the constitution; This is to complete a number of necessary tasks and legislation./ End 5   https://ninanews.com/Website/News/Details?Key=1025137

An Energy Expert Told / Nina /: The Budget Does Not Achieve The Desired Goals Without Final Accounts For The Ministries

Sunday 08 January 2023 14:06 | Economica Number of readings: 239   Baghdad / NINA / - The expert in the field of oil and energy, Muhammad Hawrami, confirmed: The budget does not achieve the desired goals without final accounts for the ministries.

He told the National Iraqi News Agency / NINA /: The budget alone does not achieve its economic and transparency goals without the final accounts.

Hawrami added: We hope first that the parliament will approve it and that the relevant ministries present their final annual accounts... and that the largest share will be for service projects and infrastructure for the investment sector, and not for earning and employing more aliens.

He expressed the hope that the new government would abide by its ministerial program and hold the negligent ones accountable./ https://ninanews.com/Website/News/Details?Key=1025136

The World Bank Warns Of The Risks Of A Global Recession This Year

Sunday 08 January 2023 09:48 | Economical Number of readings: 342  Baghdad / NINA / - The World Bank has expressed concern about more adverse shocks that could push the global economy into recession in 2023.

In a summary of the semi-annual "Global Economic Prospects" report scheduled for release, on Tuesday, it explained: Small countries are at risk in a way private.

He added: Even without the occurrence of another crisis, global growth during 2023 is expected to slow down sharply, reflecting the simultaneous tightening of monetary policy aimed at containing very high inflation, deteriorating financial conditions and the ongoing turmoil resulting from the Russian-Ukrainian war.

He continued: The situation requires urgent global and national efforts to mitigate the risks of deflation, as well as the debt crisis in emerging markets and developing economies, as investment growth is expected to remain below average over the past two decades.

The bank stated: It is of the utmost importance that officials in emerging markets and developing countries ensure that the provision of any financial support focuses on the vulnerable, that inflation expectations remain well fixed, and that financial systems continue to show resilience.

Central bankers around the world have introduced similar measures, aggressively raising interest rates to ease price pressures, while governments support businesses and households by containing energy costs./ End3   https://ninanews.com/Website/News/Details?key=1025082

The Dollar Is Stable At 156 Thousand Dinars In The Iraqi Market

Economie| 10:01 - 08/01/2023   Baghdad - Mawazine News  Today, Sunday, the exchange rates of the dollar witnessed stability in the local markets.   Selling price: 156,000 dinars per 100 dollars   Buying price: 155,800 dinars per 100 dollars   https://www.mawazin.net/Details.aspx?jimare=216158

Al-Sudani: The New Iraq Is A Message Of Peace, Cooperation And Partnership With All The Forces Of Goodness And Peace In The World

Today, Sunday, the Prime Minister, Commander-in-Chief of the Armed Forces, Muhammad Shia Al-Sudani, attended the graduation ceremony of the 111th session of the First Military College / Heroes Factory, which was held at the college's headquarters in Al-Rustamiya.

Al-Sudani delivered a speech during the ceremony, the following are the highlights of it, according to a statement by his media office:

The 102nd year has passed since the establishment of our heroic Iraqi army, the protector of the flag of Iraq, and the nation's trust and supportive wall.

This memory passes, and we are in the blessing of stability, which was only achieved with the precious sacrifices and blood that our army made along with all kinds of armed forces.

Our Iraqi army went through challenges and turns that tried to break its will. The dictatorship conspired against him and insulted his honorable history.

Our army has always chosen to stand by the people, and by the just causes of the nation. He defended the independence of Iraq, and contributed to the protection of the Arab land in various fields.

Our army continued its march to secure full sovereignty, and stand with the constitution, the democratic process, and the building of the new Iraq.

Our armed forces and our valiant army, through the victory over terrorism and the recovery of all of our land, recorded an epic unparalleled in history.

It is right to remember the blood of the martyrs, old and young, as they rushed unaware of death, at a defining historical moment, which made the future, and responded to the fatwa of the competent jihad launched by Imam Sayyid al-Sistani, which preserved the sanctities of the homeland and its citizens in all their diversity.

The new Iraq is a message of peace, cooperation and partnership with all the forces of goodness and peace in the world. That dark period that wreaked havoc on Iraq and the region has ended.

Today we celebrate the graduation of the 111th session at the First Military College, Factory of Heroes, to coincide with the anniversary of the founding of the army. We celebrate while Iraq is well with you, and the responsibility is still great in construction and reconstruction.

In the government program, we have entrusted raising the capabilities of our army, working on the technological and field development of combat weapons, and involving commanders, officers and ranks in various courses that contribute to refining their skills and providing them with additional experience.

This occasion invites us to stress the importance of cohesion between our armed forces and citizens.

I extend my congratulations to our people and to the heroes of the Iraqi army, commanders, officers and ranks, on the occasion of the anniversary of the founding of our army, and I stand in gratitude for our honorable martyrs.    https://www.radionawa.com/all-detail.aspx?jimare=32922

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

https://www.bondladyscorner.com/

Some "Vietnam News" Posted by Henig at KTFA 1-8-2023

Vietnam News:

Henig: Drum Dance Festival of the Muong

06:00 | 08/01/2023

(VEN) - The Muong ethnic minority in the northern mountainous region welcome spring and celebrate Tet (the Lunar New Year) with a traditional drum dance festival and other activities.

The drum featured in the festival is made of buffalo skin. It is about 30cm in diameter and 45cm in length, enough for drummers to easily play and swing. The drum dance was previously performed by only two people – symbolizing father and son, but nowadays it includes up to 10 persons to provide entertainment during Tet and other community events.

The Muong men wear their traditional casual costume to perform the dance.

Drum dance players must be in good health and capable of a flexible, agile and expressive performance.

The dance expresses people’s desire for a prosperous and happy life, peace and solidarity. LINK

Henig:  Investors make decisions on different investment channels

January, 07/2023 - 08:46

Entering 2023, investors are choosing investment channels that bring high profitability amid the current financial market where there are many unprecedented risks.

HÀ NỘI — Entering 2023, investors are choosing investment channels that bring high profitability amid the current financial market where there are many unprecedented risks.

According to Huỳnh Anh Tuấn, General Director of Đông Á Bank Securities Company (DAS), saving accounts are still the most attractive investment channel, at least until the end of the first quarter of 2023.

With gross domestic product (GDP) growth of more than 8 per cent, the country's consumer price index (CPI) under control below 4 per cent in 2022, and bank deposit interest rates reaching 12 per cent, savers still enjoy positive real interest, he said.

Entering 2023, although macroeconomic conditions are forecast to see many challenges, GDP is forecast to still grow positively, reaching 6.5 per cent and an inflation target below 4.5 per cent.

Although commercial banks recently pledged to reduce the deposit interest rate to below 9.5 per cent per year, the roadmap for reducing interest rates is likely to require more time, especially when the liquidity of some small banks is still at a low level. Therefore, at this time, banking deposit is the most attractive investment channel.

Tuấn said through the third quarter of 2023, deposit interest rates are expected to cool down. At that time, securities are likely to become more attractive investment channels for investors. But at the present time, the stock market still sees many unpredictable risk factors, but there are still some industries that are forecast to prosper again.

Phan Dũng Khánh, investment consulting director of Maybank Investment Bank, also said that banking deposit is still the best investment channel in the first half of 2023. In the second half of 2023, when the stock market becomes more stable with a safer buying zone, individual cash flows can come back in, making the market more active.

Đinh Thế Hiển, a financial expert, predicts that the stock market is likely to prosper in 2023, because stock prices are hitting lows. When financial and banking markets are stable and interest rates tend to decrease, the stock market is expected to recover strongly.

In 2022, Việt Nam's stock market was one of the strongest falling markets in the world, as the VN-Index fell more than 34 per cent compared to the beginning of 2022. Experts said that although the stock market still sees many unpredictable risks and investor sentiment is still weak, the stock market still has some main supportive points.

Việt Nam's economic growth is forecast to remain at a high level compared to the world average, while well-controlled inflation will be a bright spot to attract foreign investment flows. Difficulties in cash flow liquidity in the economy are also being focused on by the Government and related ministries and sectors.

However, experts also say that investors need to avoid speculative stocks, and choose the right stocks of businesses with solid financial foundations, stable operation and little influence of short-term fluctuations.

Diversify investment portfolio

Contrary to the positive trend of savings and securities, investment channels in gold, foreign currency, bonds, and real estate are forecasted to be less positive.

According to Huỳnh Anh Tuấn, since Decree No 24/2012/ND-CP dated April 3, 2012 of the Government (Decree 24) and Circular No 16/2012/TT-NHNN dated May 25, 2012 of the State Bank on the management of gold business came into effect, the domestic gold market prices struggled to keep pace with the world market. The gold investment channel is also less attractive to domestic investors.

Cấn Văn Lực, a financial expert, also said that with the current gold market, short-term investment can be quite risky, because the domestic and international gold prices are not connected. However, investing in gold as a long-term accumulation channel is still acceptable.

Foreign currency investment, especially the US dollar, is also considered unattractive, as the USD/VND exchange rate has increased sharply in 2022 and is not expected to have many strong changes in 2023.

According to experts of MB Securities Joint Stock Company (MBS), foreign exchange pressure may return but it is unlikely to be as negative as in 2022. As planned, the US Federal Reserve (Fed) will still increase rates in 2023, but the pressure will be lighter as the US dollar has levelled off against most other currencies, including the Vietnamese đồng.

MBS's analysis team said that in 2023, the Vietnamese đồng is expected to depreciate by about 2 per cent in the context that the Fed will stop raising interest rates after March 2023.

As for real estate, analysts predict that the market is still quiet and struggle to recover in 2023.

According to Cấn Văn Lực, for the real estate channel, some segments are currently facing difficulties such as resort real estate and tourism in the context that the cash flow for investment loans is being squeezed. However, residential real estate in some areas benefiting from infrastructure still has a positive outlook.

Therefore, investors need to identify and prioritise safe-haven investment channels, such as potential real estate segments like houses, industrial park real estate, and land plots in areas with synchronous infrastructure, full legal conditions and reputable and professional investors.

In the context that the financial market still sees many unpredictable variables, experts say that investors should diversify investment channels, carefully make investment and selling decisions, and avoid false rumours.

VNS   LINK

Henig:  First batch of Cao Phong orange shipped to UK

January, 07/2023 - 08:36

Orange grown in Cao Phong District is a famous specialty of Hòa Bình province. It is said to have a wonderful smell and a sweet tender taste combined with its beautiful colour.

HÒA BÌNH — The People’s Committee of Cao Phong District in the northern province of Hòa Bình, the provincial Department of Agriculture and Rural Development, RYB Joint Stock Company and Cao Phong One Member Ltd, Co., on Thursday (January 5) held a ceremony to mark the first shipment of seven tonnes of Cao Phong oranges to the UK.

Oranges grown in Cao Phong District are a famous specialty of Hòa Bình Province. It is said to have a wonderful smell and a sweet taste combined with its beautiful colour.

Speaking at the event, Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Council Bùi Đức Hinh said that the orange shipment to the UK marks the province’s over-40-year efforts to bring Cao Phong oranges to the world market.

Director of the province’s agriculture department Nguyễn Huy Nhuận said that the province will continue to support orange-growing cooperatives and cooperative groups in improving their capacity in production, processing, packaging, storing, and selling.

Enterprises are also supported in purchasing and processing Cao Phong oranges as well as adding value to the product, he said.

Nguyễn Thị Thanh Hương, director of RYB Joint Stock Company, said that none of the nearly 900 plant protection substances that are required to be analysed according to European standards were found in all testing samples.

Sample packages to the UK have also been cleared without any obstacles related to food safety and origin, she said.

Last year, many agricultural products of Hòa Bình Province like bamboo shoots, vermicelli, cassava, and nutritious porridge maintained their traditional export markets and expanded into new markets. Its white sugarcane, purple sugarcane, longan, and red-flesh pomelo were first exported to high-end markets such as the US, the Republic of Korea, the UK, and the EU.

Cao Phong District now has 1,744 ha of citrus trees, including 1,358 ha of orange and tangerine with a yearly output of over 20,000 tonnes.

The district has seven products, including fresh orange and processed orange, recognised as 3-and-4-star OCOP (One Commune One Product) products.

First batch of longan to Japan

Vietnamese fresh longan has been officially imported into the Japanese market after six years of negotiation.

Hoàng Phát Co., Ltd started official export, bringing the first 10 tonnes of fresh longan from Việt Nam to Japan on Tuesday.

The export product is packed in the Cửu Long (Mekong) Delta province of Long An province.

It is the Indo longan variety and is grown from the associated raw material areas in Vĩnh Long Province and Đồng Tháp Province.

The batch of longan will be shipped by air and is expected to hit shelves at Japanese supermarkets on January 7.

After this batch of longan, the company will supply about 70-100 tonnes of fresh longan by sea and by air to Japan each month.

There are four types of Vietnamese fruits exported to the Japanese market, including dragon fruit, mango, litchi, and fresh longan.

— VNS     LINK

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Henig:  Measures to help businesses overcome challenges in 2023

January, 07/2023 - 08:53

The HCM City Union of Business Associations has a number of measures in place to help the business community overcome challenges this year.

HCM CITY — The HCM City Union of Business Associations has a number of measures in place to help the business community overcome challenges this year.

Nguyễn Ngọc Hòa, its chairman, told a meeting held on Friday (January 6) to review last year’s performance that it would also work with the city administration to improve the investment environment, promote economic development and ensure social security.

This year HUBA would focus on organising programmes such as the 2023 HCM City Economic Forum for voting for the city’s ‘Typical Products and Services’ and the Green Business Awards.

It would also continue with its regular activities such as ‘Business Café’, trade promotions in both the domestic and overseas markets, trade fairs to showcase Vietnamese goods, and attracting membership and increase their connectivity.

Due to the uncertain global social-economic situation, businesses were expected to face difficulties this year, and HUBA would continue to work with the city to advocate sound policies and act as a bridge between the administration and businesses to resolve difficulties faced by the latter.

It also planned to co-ordinate with partners to organise training in digital transformation and others for its members and help them expand trade with other countries.

It wanted the State Bank of Vietnam to continue rescheduling of medium- and long-term loans, and bring down bank loan interest rates to support businesses.

The Government needed to keep the VAT rate at 8 per cent for all sectors, not just a few as at present, until the end of 2024, and ensure tax refunds to businesses in a timely manner.

It needed to roll out policies to promote the development of the bond and real estate markets, and speed up public spending to enable enterprises to maintain operations and create jobs.

Nguyễn Phước Hưng, the association’s deputy chairman, said last year HUBA took many measures post-pandemic to help business revival and co-operation, and acted as a bridge in connecting the Government and businesses.

Bùi Tá Hoàng Vũ, director of the city Department of Industry and Trade, appreciated HUBA’s contributions to the business community and completion of all the tasks assigned by the city.

Considering the challenges this year, it is again expected to make a significant contribution to the economy and businesses, he added.

— VNS   LINK

Sunday Morning Iraq Economy News Highlights 1-8-23

Sunday Morning Iraq Economy News Highlights 1-8-23

It Will Return To 1460.. Government Assurances Of The Stability Of The Dollar Exchange Rate

Today, Saturday, the Iraqi government announced the date for the stability of the dollar, while setting the price for its exchange in the market.  The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, said, "The rise in the dollar is not an economic issue because the economic situation in Iraq is good, in addition to the fact that Iraq's reserves are at their highest levels and as strong as they can be."

Saleh added, "The exchange rates of the dollar will return to what they were after Iraq adheres to the international compliance set by the countries that deal in the US dollar."

And that "there are concerns by the World Bank that Iraq's cash transfers abroad are tainted by some ambiguity.

And he continued: “With the improvement in the degree of disclosure in commercial transactions and the increase in their transparency that requires financing, in dollar currency from the window of the Central Bank of Iraq, the temporary gap between supply and demand for foreign currency will shrink.”

He pointed out, "In the coming days, the exchange rate of the dollar against the Iraqi dinar will stabilize between the price of 1455-1460 dinars per dollar."

The government advisor called on commercial banks, importers and all trade to “transparency and clarity in their foreign trade behavior to contribute to the stability of the dollar’s ​​exchange rate against the dinar.”   https://takadum-news.com/archives/141482

The Dollar Is Stable At 156 Thousand Dinars In The Iraqi Market

Economie| 10:01 - 08/01/2023   Baghdad - Mawazine News  Today, Sunday, the exchange rates of the dollar witnessed stability in the local markets.  Selling price: 156,000 dinars per 100 dollars  Buying price: 155,800 dinars per 100 dollars   https://www.mawazin.net/Details.aspx?jimare=216158

The Central Bank Addresses The Ministries Regarding Dollar Sales

Economie  2023-01-08 | Source:  Alsumaria News   4,284 views   Today, Sunday, the Central Bank sent a letter to all ministries regarding foreign currency sales and foreign transfers.

The bank said, according to a document seen by Alsumaria News, that "due to the launch of the electronic platform for foreign transfers at the beginning of this year, the Central Bank of Iraq welcomes the fulfillment of your requests to finance your obligations, transactions and contracts with abroad in foreign currency and at the official rate."

He added, "We hope that you will send your requests to the banks that open your accounts with them to take the necessary measures according to the approved contexts."   LINK

Al-Janabi: The Central Bank Is Able To Restore Confidence In The Iraqi Dinar Soon

Policy  2023-01-07 | Source:  Alsumaria News  5,319 views   Representative Ziyad Al-Janabi confirmed, on Saturday, that the Central Bank of Iraq is able to restore confidence in the value of the dinar soon, while indicating that the bank lent the government and saved it from going into the unknown.

Al-Janabi said in an interview with Alsumaria News We appreciate the position Central Bank of Iraq Who supported the Iraqi government with a cash loan of more than 30 billion dollars and saved it from going into the unknown at the time.

Al-Janabi referred to "the ability  Central Bank of Iraq to overcome the current crisis facing the dollar in the local market," stressing that "the central bank has taken successful strategic steps to end the current crisis."

And Al-Janabi indicated that "this problem, which confused the state of the Iraqi market, will soon be resolved, and the central bank is able to restore confidence in the value of the Iraqi dinar and adjust technical matters in the near future," stressing by saying that "the central bank has been able to raise the value of the dollar and gold reserves to a strategic amount, including a safe maneuver." Good for the Iraqi government."   LINK

Rashid And Al-Hakim Stress The Importance Of Expediting The Approval Of The Budget And The Completion Of Economic Projects

Policy   2023-01-08 | Source:  Alsumaria News  277 views   Today, Sunday, President Abdel Latif Jamal Rashid stressed, during his meeting with the head of the National Wisdom Movement, Ammar al-Hakim, the importance of speeding up the approval of the budget and the completion of economic projects.

The media office of the Presidency of the Republic stated, in a statement received by Alsumaria News, that "The President of the Republic, Abdul Latif Jamal Rashid, received Ammar al-Hakim, head of the National Wisdom Movement, at the Baghdad Palace.”

The statement added, “During the meeting, views were exchanged regarding political developments in the country, and an emphasis was placed on the need to support the government to enable it to implement the ministerial program that aims to provide the necessary services to the citizen.”

According to the statement, "the importance of urgency in approving the budget was stressed to expedite the completion of projects that will contribute to supporting the economy and strengthening the country's infrastructure."

The President of the Republic spoke about his visit to the province Nineveh And his knowledge of her conditions and needs and ways to alleviate the suffering of her children and provide them with a decent life.    LINK

Budget 2023.. Achievement Controversy And Entitlement Questions

With the advent of the current year, the Iraqi people are looking forward to sending the budget by the government for the purpose of its approval and the real start of implementing the government service program, but there is a question that arises: will the 2023 budget differ from its predecessors?

In this regard, Jamal Cougar, a member of the Parliamentary Finance Committee, confirms in a press interview seen by Taqaddam, that “the new government headed by Al-Sudani must make amendments to the draft budget law, as this budget will reflect the new government’s program and its ministerial platform.”

Cougar stressed the need for “the Sudanese government to send the draft budget law at the beginning of the second legislative term so that we can legislate it before the beginning of the new year.”

Financial expert Salam Sumaisem believes that “the government program needs a budget that differs from the draft prepared by the previous government,” noting that “the Sudanese has goals that he will work to implement through some of the budget’s exchange gates, especially those related to investment funds and social expenditures related to poverty and unemployment.” .

Sumaisem added, in a press interview seen by Taqaddam, that “the dates for sending the draft budget law by the government to parliament are related to constitutional issues, and the 2023 budget is supposed to be ready before the start of 2023, and we believe that the price of oil in the budget will be linked to many factors, the most important of which is war conditions.” Russian-Ukrainian".

She explained, "Iraq used to set the price of a barrel of oil significantly lower than its original price, and the financial surplus would be rounded for the following year, but we always do not know where these surplus funds go because there are no final accounts that reveal their fate."

https://takadum-news.com/archives/141497

"Tidbits From TNT" Sunday Morning 1-8-2023

TNT:

Tishwash:   Kurdish deputy: The budget will reach Parliament during the current week.. and it will be legislated as soon (1/8)

A member of the House of Representatives for the Kurdistan Democratic Party, Sabah Sobhi, confirmed: The budget will reach Parliament during the current week.. and it will be legislated as soon as possible.

He told the National Iraqi News Agency / NINA /: There is a serious move by the political blocs in order to pass the budget as soon as possible, despite the existence of some outstanding issues.

Sobhi added: We will vote on the budget before oil and gas because it is more important than it, as this law can be delayed.

And a member of the Parliamentary Finance Committee, Mueen Al-Kazemi, said that the budget may be completed during the current week.

Al-Kazemi said in a televised statement yesterday evening: There is a political consensus regarding passing the 2023 budget, which may reach 140 trillion dinars.

He added: The investment sector will have 60% of the budget, and the proportion of the region in it will be more than 13%.   link

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

Tishwash:  The opening of the work of the Asian Parliamentary Assembly with the participation of Iraq

Today, Sunday, First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, chaired a meeting of the Sustainable Committee for Political Affairs to discuss a number of draft decisions.

The media office of the First Deputy Speaker of Parliament stated, in a statement received by (Al-Oula News), that “First Deputy Speaker of Parliament Mohsen Al-Mandalawi chaired, at the opening of the thirteenth session of the Asian Parliamentary Assembly, which started in the Turkish state of Antalya, a meeting of the Sustainable Committee for Political Affairs to discuss a group important decisions.”

Al-Mandalawi stressed during his presidency and management of the session that "Iraq was elected Vice-President of the Assembly, and Chairman of the Sustainable Committee for Political Affairs at the twelfth plenary session in 2019, and because the holding of parliamentary elections in Iraq in 2021 coincided with the date of the committee's meeting, Baghdad was unable to host it at the time."

Pointing out that "international political developments require further discussion in order to reach understandings on them."

He added, "There are 9 draft resolutions under discussion since the last meeting of the Committee in 2019," calling on "the participating delegations to express their observations on them in order to make detailed amendments to the draft resolutions during the next Standing Committee meeting."

The Iraqi parliamentary delegation expressed its support for the decisions taken by the Asian Parliamentary Assembly, reiterating the Parliament's firm position on the Palestinian issue and the right of the Palestinian people to establish their independent state with Al-Quds Al-Sharif as its capital, and supporting decisions related to this regard.

The meeting discussed the following draft resolutions towards an Asian parliament, good governance, the rule of law and judicial empowerment, good parliamentary practices, building prosperity in Asia through friendship and cooperation, Asian governments and parliaments for prosperity in Asia, Asian parliaments' unwavering support for the Palestinian people, harmonious development through Democracy, cooperation among APA members to protect and promote pluralism.   ink

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Tishwash:  Al-Sudani: The new Iraq is a message of peace, cooperation and partnership with everyone

The Prime Minister, Commander-in-Chief of the Armed Forces, Muhammad Shia' al-Sudani, confirmed today, Sunday, that the new Iraq is a message of peace, cooperation and partnership with all the forces of goodness and peace in the world.

The media office of the Prime Minister said, in a statement received by Alsumaria News, that the latter "attended, today, Sunday, the graduation ceremony of the students of the First Military College / Heroes Factory, session 111, which was held at the college's headquarters in Rustamiya.

According to the statement, Al-Sudani said, “The 102nd year has passed since the founding of our heroic Iraqi army, the protector of the flagstone of Iraq, and the place of trust of the nation and its supporting wall. Armed forces".

He added, "Our Iraqi army went through challenges and turns that tried to break its will, and the dictatorship conspired against it, and insulted its honorable history. Our army chose to always stand by the people, alongside the just causes of the nation, defended Iraq's independence, and contributed to protecting the Arab land in various fields."

And he continued, "Our army continued its march to secure full sovereignty, and stand with the constitution, the democratic process, and the building of the new Iraq," adding, "Our armed forces and our valiant army, through victory over terrorism and the restoration of all of our land, recorded an epic that is unparalleled in history."

Al-Sudani stated, "It is right to remember the blood of the martyrs, old and young, as they rushed unaware of death, at a defining historical moment that made the future, and responded to the fatwa of the competent jihad launched by Imam Sayyid al-Sistani, which preserved the homeland's sanctities and citizens in all their diversity."

He pointed out that "the new Iraq is a message of peace, cooperation and partnership with all the forces of good and peace in the world, and that black period that wreaked havoc on Iraq and the region has ended."

And he added, "Today we celebrate the graduation of the 111th session at the First Military College, Factory of Heroes, to coincide with the anniversary of the founding of the army. We celebrate while Iraq is well with you, and the responsibility is still great in construction and reconstruction."

And the Prime Minister continued, "In the government program, we have insisted on raising the capabilities of our army, working on the technological and field development of combat weapons, and involving commanders, officers, and ranks in various courses that contribute to refining their skills and providing them with additional experience."

Al-Sudani stressed, "the importance of cohesion between our armed forces and the citizens."

He concluded by saying, "I extend my congratulations to our people and to the heroes of the Iraqi army, commanders, officers, and ranks, on the occasion of the anniversary of the founding of our army, and I stand in gratitude for our honorable martyrs.    link

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CandyKisses:  World Bank warns of risks of global recession in 2023

The World Bank said it was concerned that "more adverse shocks" could push the global economy into recession in 2023, and said small countries were particularly vulnerable.

The bank issued the warning in a summary of its semi-annual Global Economic Prospects report due on Tuesday, which will be available on the website's Open Knowledge Platform.

The World Bank said that even without another crisis, global growth in 2023 "is expected to slow sharply, reflecting simultaneous monetary policy tightening aimed at containing very high inflation, deteriorating financial conditions and ongoing turmoil caused by the Russia-Ukraine war."

The Washington-based World Bank said the situation required "urgent global and national efforts" to mitigate downside risks, as well as the debt crisis in emerging markets and developing economies, as investment growth is expected to remain below average over the past two decades.

"It is critical that officials in emerging markets and developing countries ensure that any financial support focuses on vulnerable groups, inflation expectations remain well steady, and that financial systems continue to be resilient," the bank said.

Central bankers from around the world have introduced similar measures, raising interest rates aggressively to ease price pressures, while governments are supporting businesses and households by containing energy costs.

IMF Managing Director Kristalina Georgieva issued a warning in early 2023 that the world was facing "a difficult year, harder than the previous year."

Georgieva told CBS's Face the Nation in an interview broadcast on Jan. 1 that a third of the global economy will face a recession as the United States, the European Union and China experience a slowdown in the growth of economies simultaneously.

Mot:  ... Its a Relationship Thingy I Thinks! ~~~

Mot:  .... Does Make Ya Go - Hmmmmm -- Huh!!!!

Iraqi News Highlights Saturday Evening 1-7-23

Iraqi News Highlights Saturday Evening 1-7-23

Tlm724 Administrator Bondlady’s Corner

The Volume Of Trade Exchange For Iraq Was Mostly With Four Major Countries In The Year 2022

Saturday 07 January 2023 17:43 | political Number of readings: 124

Baghdad / NINA / The trademap website, which provides a trade map of countries for exports and imports, considered that Iraq's trade exchange was mostly with four major countries in the year 2022.

The site said in its statistics that "China, Iran, Turkey and the United Arab Emirates were the countries that exchanged the most trade With Iraq during the year 2022," noting that "the exchange with these countries ranged between 20-50%."

He added, "India, Saudi Arabia, South Korea, the United States, Germany and Italy were the countries that ranked second in trade exchange with Iraq, with a rate ranging between 1-5 percent."

He pointed out that "Egypt, Russia, Australia, Canada, most European countries, Brazil and most Asian countries, including Japan, ranked third in trade exchange with Iraq, at a rate of 1%."/ End h

https://ninanews.com/Website/News/Details?key=1025009

Planning: The Poverty Rate In Iraq Is 25%

Economy News – Baghdad On Saturday, the Ministry of Planning announced the implementation of government measures to support the poor segments at several levels, while confirming the preparation of a strategy to support these groups and improve incomes in the areas of health, housing and income improvement.

"The poverty rate in Iraq amounted to 25% of the total population in 2022," said the ministry's spokesman, Abdul Zahra Al-Hindawi, in a statement to the official news agency, pointing out that "this percentage increased compared to the years 2019 and 2020, when the percentage did not exceed 20%."

"He added, "The high poverty rate is due to several reasons, including the repercussions of the Corona pandemic during 2020 and 2021 and the cessation of economic activities, in addition to the economic crisis as a result of lowering oil prices and stopping projects," noting that "there are preparations in the Central Statistical Organization of the Ministry to start implementing the survey." The economic and social family in Iraq.

And he continued, "This survey would give new results and indicators on the poverty line and unemployment, as those results will be approved during the ministry's policies," noting that "planning is currently preparing to prepare a strategy to reduce the third paragraph in Iraq during the next five years."

He pointed out that "this strategy will take into account the reality of the vulnerable and poor groups in society and provide them with the requirements of living in the basic areas of health, housing, education and income improvement," stressing that "the preparation of the strategy will be shared by a number of government agencies, the private sector and some specialized international companies."

He pointed out that "the government has taken a number of measures to support the vulnerable and the poor with regard to the level of income, which was represented by raising the salaries of those covered by social care and increasing the coverage capacity of poor families, in addition to improving the ration card, organizing its distribution on a monthly basis, and adding new foodstuffs to it," adding that "the procedures It also included the field of health to empower the poor through health insurance, as these measures will have a positive impact on the vulnerable and the poor.”

Views 2   Added 01/07/2023 - 6:44 PM   Updated 01/07/2023 - 6:51 PM

https://economy-news.net/content.php?id=31742

Iraq Market.. 156 Thousand Dinars For Every 100 Dollars

Economie| 10:14 - 07/01/2023  Baghdad - Mawazine News  Today, Saturday, the exchange rates of the dollar witnessed a slight decrease in the local markets.   Selling price: 156,000 dinars per 100 dollars  Buying price: 155,800 dinars per 100 dollars  https://www.mawazin.net/Details.aspx?jimare=216081

Iraq's US Oil Exports Rose Within A Week

Saturday, January 7, 2023 9:33 am  Baghdad / National News Center  Iraq's oil exports to America increased by more than 350,000 barrels per day, on average, during the past week.

And the US Energy Information Administration stated, in a report seen by the National News Center, that “the average US imports of crude oil during the past week from nine countries amounted to 5104 million barrels per day, down by 476 thousand barrels per day from the previous week, which amounted to 5580 million.” barrels per day.”

And she added, “Iraq’s oil exports to America amounted to an average of 354 thousand barrels per day last week, up from the previous week, in which oil exports to America amounted to an average of 289 thousand barrels per day.

And the administration continued, “The most oil revenues for America during the past week came from Canada at a rate of 2.949 million barrels per day, and Saudi Arabia came at a rate of 479 thousand barrels per day, and oil revenues from Mexico amounted to an average of 428 thousand barrels per day, and then Colombia at a rate of 357 thousand barrels per day.” .

And she indicated, “The amount of US imports of crude oil from Brazil amounted to an average of 219 thousand barrels per day, and from Nigeria at a rate of 141 thousand barrels per day, and from Libya an average of 90 thousand barrels per day and from Ecuador at an average of 87 thousand barrels per day, while Russia did not import any quantity.”   https://nnciraq.com/177555/

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

https://www.bondladyscorner.com/

Some "Vietnam News" Posted by Henig at KTFA 1-7-2023

KTFA: Vietnam

Henig:  Moc Chau, a four-season destination

06:00 | 07/01/2023

(VEN) - Moc Chau Plateau, located in the northern mountainous province of Son La, about 180km north west of the capital Hanoi, has long been considered one of Vietnam’s most attractive destinations, especially when the plum trees blossom early in the year.

Moc Chau is cool and beautiful all year round. The pine forests in Ang Village, the Mu Nau plum valley, sunflower gardens, Moc Chau Tea Hill, Chieng Khoa, Fairy and Dai Yem waterfalls, Grassland 68, Bach Long (White Dragon) glass bridge, and Pha Luong Peak should not be missed.

When the spring sun shines on Moc Chau, the typical flowers of the northwest mountains race to show off, painting the landscape with white apricot flowers, plum blossoms, bright pink peach blossoms, brilliant yellow cabbage beds, and young green buds.

Moc Chau has many famous plum growing areas such as Pa Phach Village, and Mu Nau, Thung Cuong and Na Ka valleys. Usually, the plum trees start to bloom in mid-January to the end of February, but in 2022, many blossomed in early November.

Every spot covered by blooming flowers along National Highway 6 from Hanoi to Moc Chau is crowded with tourists. Backpackers who seek pristine beauty visit flower forests in remote villages.

A plum garden owner in Na Ka Valley said that while tourism has developed, the valley retains much of its original wild character. The most suitable time of the day to visit Na Ka is in the morning or early afternoon, from the beginning of winter to the end of May.

If you plan to visit Moc Chau in the autumn, don't miss the opportunity to celebrate Independence Day on September 2 with the Mong people. While the Mong people's traditional Tet (New Year) celebration usually takes place within the family or neighboring villages, the Independence Day festivities Tet is held throughout the area, including Moc Chau Town. Visitors can admire the beauty of traditional costumes, and immerse themselves in the Mong people's unique folk activities.

From May, plums begin to ripen and local growers harvest them and sell to traders in the lowlands. In summer, the highlands are suitable for picnics and walks because of the fresh air and many outdoor activities.

The ripe persimmon season in Moc Chau usually runs from September to December, but it is most beautiful in mid-November and early December when the weather turns cold and the hillsides are dappled with the colorful trees.

In November, the highland is adorned in white by cauliflower, and in December by yellow wild sunflowers.

A new tourist draw is the 632-meter-long Bach Long (White Dragon) glass bridge that was crowned with a Guinness World Record for its length.

The bridge also set a second Guinness world record as it has the world's longest glass-bottom cliff side path measured at 327 meters. Inaugurated on the Reunification Day (April 30) in 2022, the bridge is suspended some 150 meters above a lush green jungle valley. The glass-floored bridge is the latest tourist attraction in Moc Chau. At the foot of the bridge is Muong Mooc Cave, also known as Chim Than Cave, with natural stalactites and stone sculptures that reflect the daily lives of the ancient Thai ethnic minority group.

A one-way bus ticket from Hanoi to Moc Chau costs VND160-250,000. The drive by bus or car takes 3.5-4 hours.  LINK

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Henig:  Starbucks commits to expanding in Việt Nam with 100th-store plan

January, 06/2023

Starbucks is committed to expanding further in Việt Nam with its plan of opening the 100th store by the end of the second quarter this year

HÀ NỘI — Starbucks is committed to expanding further in Việt Nam with its plan of opening the 100th store by the end of the second quarter this year – a decade after the first shop opened in HCM City in February 2013.

Currently, the US coffee chain runs 87 outlets across seven cities and provinces nationwide with 50 in HCM City and 24 in Hà Nội and more than 1,000 employees (including 200 coffee masters).

“So, as you can see, there’s plenty of opportunities to continue growing in the market,” CEO of Starbucks Vietnam, Patricia Marques told reporters in Hà Nội on Friday.

According to the CEO, Starbucks will continue to open more stores, in addition to places that the chain has visited to better serve customers in their neighbourhoods.

Most recently, the US chain opened a new store in Hội An on December 9. It is also targeting new opportunities in Bình Dương and Quy Nhơn provinces for this year’s plan.

A recent report of the fast-moving consumer goods (FMCG) in the Asian region announced by Kantar World Panel showed Việt Nam’s beverage industry has recovered after two years of being affected by the COVID-19 pandemic. The third quarter of 2022 recorded an average growth rate of 5.2 per cent, only 0.4 per cent lower than the average growth rate of the whole of Asia.

“The beverage sector will bounce back from the lockdown in Việt Nam and seems to thrive again after two years of decline,” Kantar report said.

Despite being a giant in the international markets, Starbucks must compete with rising local brands.

Việt Nam’s tea and coffee market is dominated by local franchise brands, including Highlands Coffee (573 stores), The Coffee House (154) and Phúc Long (118), according to Statista data as of December 2022.

According to India-based market research company Mordor Intelligence, increasing busy lifestyle and longer working hours is likely to strengthen the consumption of coffee. Việt Nam’s coffee market is projected to witness a compound annual growth rate (CAGR) of 8.07 per cent during 2022-27.

To increase its competition in the “world coffee capital”, besides continuing expansion, Starbucks Vietnam CEO said the chain will strive to optimise costs by improving management capacity, human resource capacity and operational efficiency at each store.

In addition, to celebrate its 10-year journey in Việt Nam, customers in Việt Nam will have a chance to enjoy Starbucks Vietnam Đà Lạt coffee in September 2023.

— VNS  LINK

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Henig:  Booming e-commerce sales provides opportunity for cooperatives

January, 06/2023

According to the Ministry of Industry and Trade, made-in-Việt Nam goods accounted for more than 90 per cent of products on shelves of domestic distribution companies and 60-95 per cent of foreign supermarket chains.

HÀ NỘI — Booming e-commerce in Việt Nam is providing significant opportunities to promote sales while cooperatives are trying to improve the quality of their products to meet consumers' demands better.

According to the Ministry of Industry and Trade, made-in-Việt Nam goods accounted for more than 90 per cent of products on shelves of domestic distribution companies and 60-95 per cent of foreign supermarket chains.

According to a survey by e-commerce aggregator platform iPrice Group, the percentage of shopping through online channels more than doubled over the same period last year.

Seeing the trend of booming e-commerce, highlighted after the COVID-19 pandemic, cooperatives were making moves to promote sales via this channel.

Many cooperatives improve their products in terms of quality, packaging, and origin to better meet the demand of consumers, which would help improve consumers' trust in shopping online.

Quyết Thanh Agriculture Cooperative had arranged their dried mango pieces into a brilliant yellow rose and packed it in a round plastic box instead of a zip bag. According to the cooperative, this helped attract the attention of many consumers in both online and offline channels.

Cooperatives also cooperated with e-commerce platforms to improve the production and distribution process.

Nguyễn Thị Hoan, director of Tài Hoan Vermicelli Cooperative in Bắc Kạn Province, said that in the past, customers were concerned about the quality and origin of products which were sold online. Still, many cooperatives opened official kiosks on e-commerce platforms where customers could be assured of the product quality and a clear origin.

Lưu Thị Hoà, director of Po Mỷ Cooperative in Hà Giang Province, said that e-commerce platforms helped cooperatives to reach more customers. Moreover, the consumer information file of e-commerce platforms was diverse, which would help cooperatives to improve their adaptation to the market demand and increase revenue.

According to Nguyễn Thị Mỹ Hạnh, deputy director of Grab Việt Nam, if the cooperatives across the country knew how to take advantage of support tools and features on e-commerce platforms and online sites to reach target customers, cooperatives could grow strongly in revenue and reap many sweet fruits in the year-end shopping season.

The application of digital technology was considered an important factor in creating breakthroughs in developing cooperatives.

Director of Tam Đảo Mushroom Cooperative Nguyễn Quốc Huy said that the cooperative installed an automatic irrigation system, net house, greenhouses, a semi-automatic control system, accounting software, online tax declaration, email, data storage, digital signature and camera system to ensure the quality of products for exports. The cooperative’s products were also sold on e-commerce platforms such as Postmart.vn and Voso.vn.

According to the Ministry of Agriculture and Rural Development, there are more than 17,770 agricultural cooperatives in Việt Nam; 1,718 of these have applied high technology in farming and preservation, automation technology and biotechnology.

Of them, 21 per cent have plans for e-commerce sales, 23 per cent sell their products on e-commerce platforms, 21 per cent have created simple websites, 7 per cent have websites that appear on Google and 7 per cent advertise on Facebook.

— VNS    LINK

MoIT urges guaranteed fuel supply amid Nghi Son refinery’s troubleshooting

09:58 | 06/01/2023

The Ministry of Industry and Trade (MoIT) has sent an urgent dispatch to the Vietnam Oil and Gas Group along with petrol and oil businesses and traders, requesting them to ensure petrol and oil supply amid an output decline at the Nghi Son oil refinery in early January due to a technical incident.

The Nghi Son refinery, based in central Thanh Hoa province and run by the Nghi Son Refinery and Petrochemical Co. Ltd, is one of the two plants providing 80 percent of petrol and oil for the Vietnamese market. Its residual fluid catalytic cracking (RFCC) unit has been temporarily shut for fixing a leakage problem.

The problem is predicted to lead to a reduction of 20 - 25 percent in the refinery’s planned petrol and oil output on the first 10 days of January, according to the MoIT.

The MoIT asked the Nghi Son company and the Binh Son Refining and Petrochemical JSC, which operates the Dung Quat oil refinery in central Quang Ngai province, to maximise their capacity and use stockpiles or other sources to make up for the reduction.

 The Nghi Son company was also told to quickly fix the problem and stabilise production activities.

 Meanwhile, petrol and oil wholesalers were demanded to seek alternative supply sources and increase import so as to guarantee sufficient supply before, during and after the Lunar New Year (Tet) holiday in late January and through to the end of the first quarter, according to the dispatch.

VNA   LINK

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Henig:  Personal financial planning crucial to economic development

January, 07/2023

GDP growth must be accompanied by personal financial development, economic experts said at a seminar on Thursday.

HÀ NỘI — GDP growth must be accompanied by personal financial development, economic experts said at a seminar on Thursday.

The event, themed “Personal Financial Planning in Việt Nam - Current Situation and Solutions” was held by the Việt Nam Financial Consulting Association (VFCA).

At the seminar, Ngô Thanh Huấn, Director of Personal Finance Division - FIDT Joint Stock Company, a member of the Expert Council - VFCA, said that by 2030-2040, Việt Nam will have about 20 million people reach their retirement age. Meanwhile, Việt Nam is in the group of countries with the highest pension payment rate in the world, with a maximum payout of 75 per cent.

This makes the difference between income and expenditure of the pension fund until 2031 expected to be negative by nearly VNĐ36 trillion (US$1.5 million), according to a report by the State Audit.

According to Huấn, in order to reduce the burden on the pension fund as well as society, the development of the microfinance system and personal finance plays an important role. Because if each individual and household can financially prepare for retirement, they will contribute to reducing the burden on the Government and society.

Phạm Anh Khôi, General Director of Tulip Real Estate Financial Services Joint Stock Company (FINA), said that focusing on GDP development will not make much sense if individuals and households are not financially secure. Because when these individuals reach retirement age, the financial burden will eventually fall on the Government.

Personal financial development plays an important role in reducing the social burden when the population aging process takes place. And the profession of personal financial planning also plays an important role in the development of this field.

Giving opinions at the seminar, economist Vũ Đình Ánh said that personal finance is the final piece of microfinance, one of the goals of developing the National Comprehensive Financial Strategy of the Vietnamese government. However, this is a completely new field and industry in Việt Nam, unlike other industries such as real estate, securities or insurance.

The expert said that in addition to general standards, personal financial planning also needs a set of standards, thereby serving as a measure for activities in the market.

However, Ánh also said that the difficulty of the personal finance sector is that there is currently no State agency to manage this area.

Lê Long Giang, Chairman of VFCA, said that at present, the field of personal financial planning has developed widely in the world, especially with the birth and development of the Financial Planning Standards Board (FPSB) and Financial Planning Standardisation Boards in 27 member countries.

In Việt Nam, the sector of personal financial planning and consulting is just beginning to develop, but is also facing many problems and obstacles.

There has been a series of cases of financial fraud, including the creation of websites, trading platforms and applications to make money, as well as using decoys offering high profits to entice investment in virtual currency, foreign exchange or appropriation of assets in the fields of finance, securities, investment and corporate bond issuance.

Therefore, Giang said it is necessary to set standards for the field of personal financial planning and consulting in Việt Nam, following international standards and practices.

VNS   LINK

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Henig:  Cybersecurity resilience emerges as top priority for Vietnamese organizations

15:39 | 05/01/2023

Cybersecurity resilience is a top priority for companies in Vietnam as they look to defend against a rapidly evolving threat landscape, according to the latest edition of Cisco’s annual study, Security Outcomes Report.

Titled, Security Outcomes Report, Volume 3: Achieving Security Resilience, the study identifies the top seven success factors that boost enterprise security resilience, with a particular focus on cultural, environmental, and solution-based factors that businesses leverage to achieve security. The findings are based on survey responses from over 4,700 participants across 26 countries.

Resilience has emerged as a top priority as a staggering 63 percent of organizations surveyed said they had experienced a security event that impacted business in the past two years. The leading types of incidents were distributed denial of service attacks (71 percent), network or data breach (64 percent), network or system outage (55 percent), and ransomware event (52 percent).

These incidents resulted in severe repercussions for the companies that experienced them, along with the ecosystem of organizations they do business with. The leading impacts cited include IT/communications interruption, supply chain disruption, loss of competitive advantage, and response and recovery costs.

With stakes this high, it is no surprise that 97 percent of executives surveyed for the report said that security resilience is a high priority for them. The findings further highlight that the main objectives of security resilience for security leaders and their teams are to mitigate financial losses from security incidents, ensure business continuity through disruptive events, and prevent major security incidents and losses.

“Technology is transforming businesses at a scale and speed never seen before. While this is creating new opportunities, it also brings with it challenges, especially on the security front. To be able to tackle these effectively, companies need the ability to anticipate, identify, and withstand cyber threats, and if breached be able to rapidly recover from one. That is what building resilience is all about,” said Helen Patton, CISO, Cisco Business Security Group.

“Security, after all, is a risk business. As companies don’t secure everything, everywhere, security resilience allows them to focus their security resources on the pieces of the business that add the most value to an organization, and ensure that value is protected,” she added.

Seven success factors of security resilience

This year’s report has developed a methodology to generate a security resilience score for the organizations surveyed and identify seven data-backed success factors. Globally, organizations that had these factors present were among the top 90th percentile of resilient businesses. Conversely, those lacking these were placed in the bottom 10th percentile of performers.

The findings of the study underline the fact that security is a human endeavor as leadership, company culture and resourcing have a significant impact on resilience:

In addition, businesses need to take care to reduce complexity when transitioning from on-premise to fully cloud-based environments.

Finally, adopting and maturing advanced security solutions has significant impacts on resilient outcomes.

“The Security Outcomes Reports are a study into what works and what doesn’t in cybersecurity. The ultimate goal is to cut through the noise in the market by identifying practices that lead to more secure outcomes for defenders,” said Jeetu Patel, Executive Vice President and General Manager of Security and Collaboration at Cisco. “This year we focus on identifying the key factors that elevate the security resilience of a business to among the very best in the industry.”

Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your enterprise, transforming your infrastructure, and empowering your teams for a global and inclusive future.

PV  LINK

Iraqi News Highlights Saturday Afternoon 1-7-23

Iraqi News Highlights Saturday Afternoon 1-7-23

Tlm724 Administrator Bondlady’s Corner

Parliamentary Expectations For The Arrival Of The Federal Budget Before The Start Of The Second Legislative Term

Saturday 07 January 2023 16:59 | Economical Number of readings: 201  Baghdad / NINA /- Parliamentarians expected the federal budget to arrive before the start of the second legislative term, which will start next Monday./ Ended 7  https://ninanews.com/Website/News/Details?key=1024996

The President Of The Republic Is Discussing With Al-Maliki The Situation In The Country

Saturday 07 January 2023 18:38 | political Number of readings: 69  Baghdad / NINA / - The President of the Republic, Abdul Latif Jamal Rashid, discussed today, Saturday, with the former Prime Minister and head of the State of Law Coalition, Nuri al-Maliki, the general situation at the national level and its political, security and economic developments.

And it was emphasized - according to a presidential statement - the necessity of consolidating security and stability in the country and strengthening national unity to overcome challenges and resolve outstanding issues in a way that achieves the supreme interest of the country and citizens.

The importance of supporting the government's efforts in implementing its ambitious ministerial program was also emphasized, especially those directly related to living and service needs and requirements, and the development of basic infrastructure.

The President of the Republic stressed the need to accelerate the pace of work to complete the projects necessary to provide services to citizens.

Rashid referred to the field visits he made to a number of governorates to see their conditions and the needs of their people, and the importance of developing performance in all governorates.

For his part, Al-Maliki expressed his support for these field visits and a close look at the conditions of the governorates and the obstacles that stand in the way of developing their conditions./ End 3

https://ninanews.com/Website/News/Details?key=1025022

Deputy: There Is No Agreement Between Baghdad And Erbil Regarding Kurdistan's Share In The Budget

The representative of the Kurdistan Democratic Party, Sharif Suleiman, confirmed, on Saturday, that until now there is no agreement between Baghdad and Erbil regarding Kurdistan’s share in the budget, while he expected it to reach Parliament at the end of this month.

Suleiman said in a statement, "The budget for the current year will provide all the needs of the citizen, and it is currently in the preparation stage by the government."

He added that the 2023 budget will translate the government program in the files of health, electricity, investment and infrastructure, pointing out that the budget is not ready to be sent to parliament. Kurdistan’s share.”

A member of the Parliamentary Finance Committee, Representative Nazem Al-Shibli, confirmed in a previous statement that the commitment of the State Administration coalition forces to the concluded agreements will facilitate the completion of the budget law and sending it to the House of Representatives at an early date.   https://www.radionawa.com/all-detail.aspx?jimare=32903

The Delay In Approving The Budget Will Push The Iraqi Economy Towards Recession

Economist For / Nina /: Saturday 07 January 2023 10:38 | Economical Number of readings: 348   Baghdad / NINA / - The expert on economic affairs, Safwan Qusai, confirmed that entering Iraq into the second year without a budget will negatively affect the country's economy, noting: "The work of government units will be confused and push the Iraqi economy towards recession."

Qusai said in a statement to the National Iraqi News Agency / NINA /: "It has become very necessary to approve the federal budget as soon as possible in order to avoid stopping spending on investment development projects, high unemployment rates, and erosion of government capital due to the suspension of funding,

in addition to financing all government units that have offered programs consistent with achieving The priorities of the Sudanese government are in preventing corruption, fighting poverty and reducing unemployment, which will not be achieved without approving the budget as soon as possible.

He pointed out, "Iraq's entry into the second year without a budget confuses the work of government units and pushes the Iraqi economy towards recession, just as addressing the effects of changing the value of the Iraqi dinar on fragile social classes requires adjusting spending levels in Iraqi dinars to avoid these effects."

The economist stressed: "The budget is an effective tool in the hands of the executive body to achieve its goals, and without it, the capabilities of those units will be disrupted, and the series of not benefiting from trillions of dollars will continue to move the Iraqi economy, support the private sector, and initiate development measures."/ End 8    https://ninanews.com/Website/News/Details?key=1024888

The Minister Of Communications Pledges To Take Decisions To "Improve Internet Service And Reduce Its Prices"

Economy News – Baghdad   Minister of Communications Hiyam al-Yasiri confirmed, on Saturday, that the ministry will take several decisions to improve the Internet service and reduce its prices for citizens.

The ministry's media said in a statement, "The Minister of Communications, Hayam Al-Yasiri, chaired an expanded meeting in the General Company for Communications and Informatics with the private sector companies equipped with the officially licensed (Wireless) Internet service."

He added, "The meeting discussed the reality of Internet service and ways to improve it and reduce its prices for the citizen."

Al-Yasiri confirmed, according to the statement, that "the ministry will take several decisions in the near future to achieve these goals," explaining "the mechanisms of their application and transfer in an appropriate manner to citizens."  Views 16   Added 01/07/2023 - 5:46 PM   Updated 01/07/2023 - 6:52 PM   https://economy-news.net/content.php?id=31741

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

https://www.bondladyscorner.com/

Saturday Morning Iraq Economic News Highlights 1-7-23

Saturday Morning Iraq Economic News Highlights 1-7-23

Parliament's Legality Reveals The Reasons For The Delay In Approving The Budget: We Are Afraid Of This

2023.01.07 Baghdad - people    On Saturday, the Parliamentary Legal Committee revealed the reasons for the delay in approving the 2023 budget.

"Nass" channel on Telegram.. our latest updates    Committee member Raed al-Maliki said in a statement to the official newspaper, followed by “Nass” (January 7, 2023), that “the delay in approving the budget is due to political understandings and tensions between the blocs,” noting that “the Kurdistan region wants to include a paragraph in the next budget that serves it regarding financial allocations.” ".

  Al-Maliki added that "dealing with the law and judicial decisions is dual, because the Federal Court obligated the Kurdistan region to hand over oil and gas and their revenues," expressing his "fear that the political agreements may have included laws other than the budget."

He explained that "the political parties are trying to pass their demands in accordance with the agreement that resulted in the formation of the current government," noting that "the independent representatives are demanding things that they believe are in the interest of the Iraqi people, and the political agreements mean nothing to them because they are not parties to them."

  Professor of Economics at the University of Basra, Nabil Al-Marsoumi, expected earlier that the 2023 budget bill would not be sent to Parliament during the current month.

Al-Marsoumi said in a post followed by "Nass" (January 7, 2023), that "it seems that the 2023 budget bill will not be sent to parliament during the current month due to the lack of agreement on Kurdistan's share and because of its large operating expenses."   

  He added, "Hey, but in Iraq, the second year and beyond will end without a budget."   

https://www.nasnews.com/view.php?cat=99998

Parties Are Trying To Pass Their Demands For The Budget, Taking Advantage Of The Agreement To Form The Government

Conscious / Parliamentary Legal:  January 7, 2023 1 Views   Conscious / Baghdad / g. M   A member of the Parliamentary Legal Committee, Representative Raed al-Maliki, warned today, Saturday, that there are political parties trying to pass their demands in the budget in accordance with the agreement that resulted in the formation of the current government, while indicating that the Kurdistan region wants to include a paragraph in the next budget that serves it regarding financial allocations.

Al-Maliki said, in an interview carried out by a reporter (Iraqi Media News Agency / INA), that "the delay in approving the budget is due to political understandings and tensions between the blocs," noting that "the Kurdistan region wants to include a paragraph in the next budget that serves it regarding financial allocations.”

He added, "Dealing with the law and judicial decisions is dual, because the Federal Court obligated the Kurdistan region to hand over oil and gas and their revenues," expressing "fear that the political agreements may have included laws other than the budget."

Al-Maliki explained, "The political parties are trying to pass their demands in accordance with the agreement that resulted in the formation of the current government," noting that "the independent representatives are demanding things that they believe are in the interest of the Iraqi people, and the political agreements mean nothing to them because they are not parties to them.

https://1-al--iraqinews-com.translate.goog/archives/324888?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en&_x_tr_enc=1

Setting A Date For Sending It And Settling The Price Of Oil.. The 2023 Budget Is Still Far From Reach

Baghdad today – Baghdad Today, Saturday, the leader in the State of Law, Turki Al-Atbi, spoke about the latest developments in the Federal Financial Budget Law for the year 2023, stressing that sending it from the government to Parliament will be delayed until next February.

Al-Atbi said, to (Baghdad Today), that "the committees specialized in drawing up the items of the 2023 budget have completed most of the axes," noting that "there are two paragraphs that have not been decided so far, which is the percentage of the Kurdistan region, and the addition of operating expenses after the recent decision of the Council of Ministers to add tens of thousands of Contracts to the owners of several ministries and government agencies.

And he added, "Sending the budget may be in February or March next, after resolving the two paragraphs, to be ready before the House of Representatives," pointing out that "determining the price of a barrel of oil will be within a week from now, on a fixed basis, according to the information."

And last week, the representative of the State of Law Coalition, Muhammad al-Shammari, told (Baghdad Today), that "the shape of the budget law for the year 2023 will be completely different from previous budgets."

Al-Shammari explained, "The budget will focus on reforming the service, health and economic sectors and addressing poverty, and this matter is one of the first ministerial approaches to the government of Muhammad Shia'a al-Sudani."

And he indicated that "the price of a barrel of oil in the budget will be (65) dollars per barrel, and the exchange rate of the dollar will be (1145) dinars, and this matter will provide good sums to support service and economic reforms," ​​adding that "the Iraqi government will work to send the draft law to Parliament with the beginning of The new legislative term in the coming days.

Last week, the British newspaper "The Independent" on its Arabic website dealt with the issue of disagreements between the federal government and the Kurdistan region over the 2023 budget, with the end of 2022 without a financial budget for the country.

The newspaper stated in a report, seen by (Baghdad Today), that "the 2023 budget has caused a new crisis between the Iraqi federal government and the Kurdistan region of Iraq, with its approval approaching at the beginning of the new year, as it has become a matter of contention, in light of the Kurdish delegations heading towards Baghdad, which adheres to the constitution to solve Those differences, while the region hopes that political understandings and consensus will result in returning its share to 17 percent in the current year's budget instead of 12.67 percent due to the population density in the region.

According to the report, a member of the Kurdistan Region Parliament, Hevidar Ahmed, confirmed, on Thursday, December 29, the continuation of the dispute between the region and the federal government regarding the budget. He said in a press statement, "The dispute revolves around the region's share in the budget, and there are large financial obligations to the region that must be taken into account in the general budget," explaining that "sending the amount of 400 billion dinars will be the first step to resolving the dispute."

On the other hand, the leader of the Kurdistan Democratic Party, Wafaa Muhammad, revealed the Kurdistan region’s share of the financial budget for the next year, and also talked about the impact of the differences between the “Democratic Party” (Parti) and the “Patotic Union of Kurdistan” (Al-Yakti) on the nature of the negotiations with Baghdad. .

Muhammad said in a press statement, "There is almost an agreement between the Kurdistan region and the central government regarding the share of the Kurdish component of the financial budget law for the year 2023." He added, "The region's share will be 14 percent, and it was almost certainly agreed upon during the last Kurdish delegation's visit to the capital, Baghdad."

Regarding the impact of the differences between the Parti and Alekti on the negotiations with the central government, he explained that "the differences between the Union and the Democratic Party are within the Kurdistan region and will not affect the understandings and negotiations with Baghdad."

The former member of the House of Representatives, Fadel Al-Fatlawi, revealed earlier that the approval of the financial budget law had been delayed for more than a month, and while he attributed this to reasons, including the differences between Baghdad and Erbil, he confirmed the existence of understandings within the "dark rooms" to reach an agreement.

According to the newspaper, the "State of Law Coalition" (led by Nuri al-Maliki) ruled out increasing the share of the Kurdish component in the financial budget for next year, while setting a date for its approval in Parliament.

The leader of the coalition, Wael al-Rikabi, said, "The financial budget law will be approved in the second month of next year, because when it reaches parliament, it needs a period of not less than 45 days to discuss its paragraphs." He added, "The House of Representatives will study it, and it is possible to reject some paragraphs and return them to the government again for correction," noting that "February 2023 will witness a vote on the financial budget."

He stated that "the arrival of the budget to the House of Representatives, and according to what was reported by the Ministry of Finance, it is prepared and ready, it will be at the end of this month or early next year," noting that "the share of Erbil and contrary to the expectations of some will remain as it was in the past," noting that "

On the other hand, Member of Parliament Souad al-Maliki indicated that the delay in completing the federal budget law was due to the confirmation of service contracts and projects.

In turn, the head of the "National Wisdom Movement" Ammar al-Hakim stressed, during his meeting with the head of the "Patriotic Union of Kurdistan" Pavel Talabani, to solve the problems between Baghdad and the Kurdistan region through dialogue and the constitution.

Al-Hakim's media office stated in a statement that "the two sides exchanged views on the Iraqi reality, while Al-Hakim stressed the importance of supporting the government and standing with it so that it can bridge the relationship between the citizen and the political forces." And duties, as well as the adoption of the constitution to solve outstanding problems.

In the context, the political and economic researcher, Saleh Lafta, said, according to The Independent Arabia, that "signs of disagreements between the center and the Kurdistan region appear to the public in all important draft laws or when approving the state's general budget," noting that "there are two basic and fundamental points of disagreement that are renewed at a time Approval of the federal budget, the first of which is the percentage of the region’s share due to the difference over the region’s share in the budget and on what basis it is determined, as the area and population are taken into account in the amount of the allocated amounts, which raises objections from the federal government and political blocs on the grounds that the allocated funds are exaggerated.

He completed the gesture, “The second is the extent of the Kurdistan region’s commitment to handing over the oil imports that the region exports to the public treasury of the Iraqi state and paying its debts to the federal government for the oil that was exported in previous years. As for the rest of the matters, they are mere formalities, such as the salaries of the region’s employees or the Peshmerga and the border crossings, It will not hinder any agreement if the issue of the region's share and oil imports is resolved."

He added, "The dialogues of the last days and hours are the ones that will resolve the differences and pass the budget, and each party will take what it wants as each time, and the intersections and differences will return again in the coming years, and each party holds the other responsible, as officials in the Kurdistan region see that the objections are renewed due to political motives and have no basis." It is legal for her and that the government and political forces are the ones who are negligent because they did not implement the federal oil and gas law that will regulate the fair distribution of wealth among the Iraqi people, while the other objecting party believes that the Kurdistan region does not abide by the constitution.

According to Lafta, "the problem has not been finally resolved, but rather it is transferred to the future, like all constitutional articles that need consensus and a solution. This is the reality. There is no final solution, but rather temporary solutions to all problems."    Edit: A.F   LINK