Bells Toll As The US Marks 22 Years Since 9/11, From Ground Zero To Alaska

Bells Toll As The US Marks 22 Years Since 9/11, From Ground Zero To Alaska

Jennifer Peltz And Karen Matthews  Updated Mon, September 11, 2023

Names of victims are read during the commemoration ceremony on the 22nd anniversary of the September 11, 2001, terror attacks on Monday, Sept. 11, 2023, in New York. (AP Photo/Yuki Iwamura)

NEW YORK (AP) — With tolling bells, personal tributes and tears, Americans looked back Monday on 9/11 at anniversary observances that stretched from ground zero to small towns.

People gathered at memorials, firehouses, city halls, campuses and elsewhere to observe the 22nd anniversary of the deadliest terror attack on U.S. soil.

“For those of us who lost people on that day, that day is still happening. Everybody else moves on. And you find a way to go forward, but that day is always happening for you,” Edward Edelman said as he arrived at ground zero to honor his slain brother-in-law, Daniel McGinley.

President Joe Biden was due at a ceremony on a military base in Anchorage, Alaska. His visit, en route to Washington from a trip to India and Vietnam, is a reminder that the impact of 9/11 was felt in every corner of the nation, however remote. Nearly 3,000 people were killed when hijacked planes crashed into New York’s World Trade Center, the Pentagon and a Pennsylvania field, in an attack that reshaped American foreign policy and domestic fears.

On that day, “we were one country, one nation, one people, just like it should be. That was the feeling — that everyone came together and did what we could, where we were at, to try to help," said Eddie Ferguson, the fire-rescue chief in Virginia’s Goochland County.

It's more than 100 miles (160 kilometers) from the Pentagon and more than three times as far from New York. But a sense of connection is enshrined in a local memorial incorporating steel from the World Trade Center’s destroyed twin towers.

The predominantly rural county of 25,000 people holds not just one but two anniversary commemorations: a morning service focused on first responders and an evening ceremony honoring all the victims.

To continue reading, please go to the original article here:

https://news.yahoo.com/united-states-marks-22-years-040427265.html

Exclusive-China's Central Bank To Scrutinise Bulk Dollar Purchases

Exclusive-China's Central Bank To Scrutinise Bulk Dollar Purchases

 sources  Reuters   Mon, September 11, 2023

BEIJING/SHANGHAI (Reuters) -China's central bank is tightening its scrutiny of bulk dollar purchases by domestic firms, three sources with direct knowledge of the matter said on Monday, at a time when the Chinese currency faces mounting depreciation pressure.  Companies that need to purchase $50 million or more will now need approval from the People's Bank of China (PBOC), which convened a meeting with some commercial banks over the weekend on the matter, the sources said.

"The approval process will be extended," said one of the sources.

"The recent yuan depreciation has indeed been too severe, and many now expect the yuan to weaken beyond 7.5 per dollar."

The central bank has warned some lenders of their huge dollar purchases on behalf of their corporate clients, according one of the other sources.

The directive is being issued as the Chinese yuan has declined by about 6% against the U.S. dollar so far this year, falling to levels that were last seen during the 2008 global financial crisis. [CNY/]

The PBOC had no immediate comment on plans to increase its scrutiny of dollar purchases when contacted by Reuters.

China has in recent weeks stepped up its efforts to slow the pace of yuan declines by setting persistently stronger-than-expected midpoint fixings. Earlier this month, it announced it would increase the supply of dollars by lowering the amount of foreign exchange that banks must set aside.

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/exclusive-chinas-central-bank-peruse-090142572.html

"Tidbits From TNT" Monday 9-11-2023

TNT:

Tishwash:  Parliamentary: Article 140 caused a delay in the disbursement of allocations for this category

Mrs. Intisar Al-Maliki expressed her deep concern about the delay in disbursing allocations to affected families due to Article 140, as the number of families who received the checks reached more than 1,500 families in Al-Faw and Abu Al-Khasib districts and the entire Basra Governorate.

Al-Maliki strongly called for the need to achieve justice and equity by disbursing these allocations and compensating the affected families for the damage they suffered as a result of the events that occurred in those areas.

In addition, Representative Intisar Al-Maliki called on the government and the concerned authorities to seriously consider this issue and take the necessary measures to provide support and assistance to these needy families and disburse their overdue financial dues.

We stress the importance of responding to this call in order to achieve social justice and help the affected families in Basra Governorate.   link

CandyKissses:  Integrity: We monitored the waste of 14 billion dinars in tax, retirement and social security in Dhi Qar

Baghdad Today - Baghdad

Today, Monday (September 11, 2023), the Federal Integrity Commission announced that it had detected a waste of 14 billion dinars in tax, retirement, and social security in Dhi Qar Governorate, while indicating that 10 billion dinars from tax deposits had not been recorded as revenue for the treasury.

The Authority's Investigation Department stated, according to a statement received by "Baghdad Today," that "the field team in the Dhi Qar Investigation Office, which carried out investigative work in the Tax Directorate in the governorate, concluded that the General Authority for Taxes and the Dhi Qar Tax Directorate were negligent by not recording amounts." Tax deposits for the years (2011-2017) amounting to (9,869,695,908) nine billion eight hundred and sixty-nine million dinars as final revenues to the public treasury."

The department added, "The team, which moved to the Retirement and Social Security Department, seized the files of the companies registered with it, whose amounts had not been paid," pointing out that the results of the report of the Office's External Audit Division and its investigations revealed the presence of violations committed by the department, explaining that The total amounts that were not collected and wasted amounted to (4,038,436,056) four billion and thirty-eight million dinars, noting that the Authority referred the letter of the Retirement and Security Department to implementation, in accordance with the Government Debt Collection Law.

She continued, "The office monitored that Dhi Qar Oil Company contracted with a foreign company to purchase pipes used to connect oil wells, explaining that Dhi Qar Oil Company changed the origin of the pipes from European to Chinese, while keeping the contracting cost the same, which led to damage." With public money

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Tishwash:   How do we benefit from the decisions of the G20 Summit?

The G20 summit began in the Indian capital, New Delhi, and concluded its work over two days in the absence of the Russian President and the Chinese President, and with the participation of the leaders of 28 countries, including the original members of the summit, in addition to the leaders of the countries invited by India to attend the summit.

The leaders participating in the New Delhi summit focused on many plans and solutions aimed at confronting global crises, most notably climate change - which threatened to exacerbate poverty, famines and humanitarian crises, and negatively affected sustainable development plans in a large number of countries, especially developing ones.

The summit’s agenda also discussed many issues. Important ones include ways to promote green development, finance plans to confront the effects of climate change, the European Union Environment and Climate Action Programme, promote strong and sustainable economic growth, the progress that has occurred in efforts to implement the United Nations Sustainable Development Plan, technological transformation and digital infrastructure, and the efforts of international institutions to promote development and shape... The economies of the G20 countries account for about 85 percent of the global gross domestic product, 75 percent of the trade volume, and 60 percent of the world population.

Among the most prominent goals of the G20 are to strengthen and develop the global economy, in addition to reforming international financial institutions and improving the financial system, supporting global economic growth, developing mechanisms for job opportunities, and activating free trade initiatives.

What concerns us in Iraq is how our economy can benefit from the goals and decisions of the summit in particular, and the Iraqi economy is suffering from many problems that are exacerbated as it is affected by the crises and challenges of the global economy, which is also suffering from expectations of the continuation of the food, energy and climate crises, the problems of the Russian-Ukrainian war, and the currency conflict of some major economic countries. Russia and China are working with the US dollar to limit its dominance in financial transactions and exchanges between countries.

Since the successful economic reform in Iraq is not only achieved internally, but rather it is achieved to the extent that the competent economic bodies in Iraq are able to achieve by building diverse financial, commercial and economic relations with the countries of the world, especially the G20 summit countries, with a focus on bilateral relations with the seven major industrial countries and member countries with emerging economies.

At the summit, which currently constitutes an important economic pole in the areas of investment, sustainable development, and building important financial and banking relationships in a way that regulates control over the monetary and commercial market in Iraq, the Central Bank has actually begun concluding banking agreements with India and China, and is making unremitting efforts to conclude agreements with European countries.

Therefore, we believe that the decisions issued by the G20 Summit must be taken into consideration and study how to deal with them through analysis and discussion in the Ministerial Council for the Economy, preparing an analytical and evaluation report to be submitted to the Council of Ministers with recommendations, and setting a time plan for action to achieve activation and strengthening of the existing bilateral economic agreements with some G20 countries and research.

 For new agreements with countries with which we do not have relations in all fields, because our adherence to the global economic system and its international standard standards is the basic solution to our complex and accumulated economic problems   link

Mot: .... Whats the Big Deal - Dude-- Its What Ya Came here fur!!!

Mot:  .... LOL - Had to Share I Did!!!

Iraqi Economic News and Points to Ponder Monday AM 9-11-23

Iraqi Economic News and Points to Ponder Monday AM 9-11-23

Iran Continues To “Dry Up” Iraqi Dollars.. The Dollar Is On The Way To Flying Towards 160 Thousand (Details)

Baghdad today - Baghdad   Today, Sunday (September 10, 2023), the expert in economic affairs, Nabil Al-Marsoumi, detailed the reasons for the continued rise in the exchange rate of the dollar against the Iraqi dinar, despite the many decisions taken by the Central Bank.

Al-Marsoumi said in an interview with “Baghdad Today” that “the reason for the large gap between the dollar in the official market and the parallel market is due to the large trade with Iran, as the latter exports goods to Iraq worth 10 billion dollars annually, and this trade is covered through bank transfers that go to banks.” UAE and then to Iran.”

He added, “After implementing the electronic platform system, bank transfers were stopped, and trade with Iran is now being covered through the parallel market, so there is pressure on the dollar,” noting, “There are parties that monopolize the dollar in order to pump it back to Iran for the purpose of commercial settlement with "Tehran."

Although Al-Marsoumi does not hide that Iraq faces many economic problems in this aspect, he confirms that the demand for investment and consumer goods will increase after the release of budget allocations.

“Due to the limited national production base, the demand for the dollar will increase again and cause it to rise to high levels,” the economist says.

Al-Marsoumi was not satisfied with this, but rather warned that the price of the dollar was on its way to jumping above the barrier of 160 thousand dinars, in the coming weeks due to a number of reasons mentioned, and “the failure to take decisions that would reduce the difference.”

According to US sanctions, any deal between Iran and Iraq must be based on the dinar, and the use of the US dollar in these transactions is prohibited.

14 private Iraqi banks were prevented from purchasing US dollars from the Central Bank of Iraq as part of a campaign by the US Treasury Department to smuggle dollars to Iran through the Iraqi financial system .

Banks were prohibited from purchasing US dollars through the "foreign exchange auction window", known as dollar and conversion auctions .

It is an officially approved mechanism to cover the foreign currency needs of banks and public and private commercial institutions, and ensures the ability of these institutions to finance their financial activities and foreign trade .

The American step taken by Washington on July 19, 2023 is part of a broader effort to prevent Iran from depleting Iraq’s dollar reserves through false or fictitious import transactions carried out with “inflated” invoices or “fraudulent” money transfers.

The Central Bank of Iraq works with the US Department of the Treasury to implement anti-money laundering and counter-terrorism financing initiatives .

The Central Bank explained that within the framework of this partnership, an “electronic platform” was developed to ensure the safety and accuracy of money transfer transactions in all aspects, in accordance with international standards and practices.   LINK

Sudanese Advisor: The Size Of The Monetary Supply Reached 116 Trillion Dinars

Economy |  09/09/2023  Baghdad - Mawazine News  Advisor to the Prime Minister, Muhammad Al-Najjar, revealed that the monetary mass of the local currency has reached the barrier of 116 trillion dinars, indicating that initiatives to expand electronic payment are consistent with the government’s directions.

Al-Najjar said, “Electronic payment is an important axis for developing the Iraqi financial sector and moving it to an advanced stage in the country’s monetary policy,” noting that “the size of the Iraqi monetary mass amounts to 116 trillion dinars, of which 30-40 trillion dinars are circulating within the banking system.”

He added, "The campaign to encourage electronic payment is in harmony with the directives of Prime Minister Muhammad Shiaa Al-Sudani to achieve safe financial transactions, and with the aim of achieving a great benefit for citizens, as electronic payment represents an important stage whose benefits everyone must realize." https://www.mawazin.net/Details.aspx?jimare=23464

Parliamentary Meeting With The Diwaniyah Order Committee Regarding The Financial Budget

Policy  2023-09-11 | Alsumaria News – Politics  The Parliamentary Finance Committee met today, Monday, with the Diwaniyah Affairs Committee formed by the Prime Minister to negotiate and meet with representatives of the regional government to implement and follow up on what is stated in the Federal Budget Law for the year 2023.

Al-Sumaria’s correspondent said, “The Finance Committee met with the Diwaniyah Affairs Committee formed by Prime Minister Muhammad Shia’ al-Sudani to negotiate and meet with representatives of the regional government to implement and follow up on what was stated in the Federal Budget Law for the year 2023.”   LINK

200 Billion Iraqi Dinars Were Exchanged For Iranian Tomans During The Arbaeen Visit

Economy News – Baghdad  Economist Ali Daadoush estimated the number of visitors who obtained dinars at about 2 million Iranians, pointing out that the total amount exchanged was 200 billion dinars, and this amount was pumped into local markets.

Daadoush said in a statement to Al-Iqtisad News, “The Iranian Central Bank had announced earlier that anyone who wants to go to the Arbaeen pilgrimage can exchange the Iranian toman for the Iraqi dinar at a subsidized price, and the maximum amount is approximately 100 thousand dinars, knowing that every (32) ) Toman = 1 Iraqi dinar,” pointing out that “the Central Bank of Iran informed us of the support for this measure and replaced the toman with a minus price of 7, thus becoming 25 toman = 1 Iraqi dinar.”

He added, "The number of visitors who came to visit Arba'een amounted to about (3) million visitors," noting, "If we estimate the number of those who received dinars at about (2) million Iranians, the total of what was exchanged is 200 billion dinars, and this amount was pumped into the local markets." .

He stated that "pumping such an amount in less than a month means an increase in the general price level on the one hand, and pressure on the cash dollar upon reaching the cash cycle on the other hand, which deepens the rise in the dollar exchange rate in the parallel market."

He pointed out that "an increase in the dinar in circulation leads to a reduction in the issuance of new cash by the Central Bank of Iraq when the process of sterilizing the dollar is carried out by the Ministry of Finance. On the other hand, the pumping of the dinar by the Iranian side means an increase in the number of workers from various professions in the unorganized economy, which constitutes approximately (70%) of the size of the total economy.” Views 106   09/10/2023   https://economy-news.net/content.php?id=36231

Federal Prime Minister: We Are Committed To The Budget Law And We Refer Those Accused In The Kirkuk Events To The Law

Iraq   14:25 - 2023-09-10    Federal Prime Minister Muhammad Shiaa al-Sudani announced his commitment to the general budget law and dealing with the region’s entitlement to the budget on the basis of the general budget law issued by the House of Representatives. Regarding the outbreak of the crisis that occurred around the building of the advanced headquarters of the Joint Operations Command in Kirkuk, which the Democratic Party left after the referendum, the Prime Minister confirmed Federal Ministers refer those accused of martyring and wounding citizens in Kirkuk to law.

Muhammad Shiaa Al-Sudani said during a statement to the Kurdsat News satellite channel: “There are numbers and statistics that govern everyone’s budget entitlements, and we, in turn, are committed to the general budget law.”

The Prime Minister of the Federal Council added: “We deal with the region’s share on the basis of the general budget law, and we are also awaiting the result of hosting the Minister of Finance of Iraq and the region to the Finance Committee and the House of Representatives to address budget-related disputes.”

 Regarding the tensions and disturbances that occurred in the past few days in Kirkuk over a building belonging to the Democratic Party, which it left as a result of the Kurdistan Region’s referendum and occupied by the General Command of Joint Operations in the city, Muhammad Shiaa al-Sudani pointed out that: “Kirkuk must be removed from disputes and conflicts, and we will remove anyone whose hands are dirty.” "With the blood of the citizens of Kirkuk, it will be transformed into the law."

https://kirkuktv.net/AR/Details/17301  

“Iraq Has Moved Closer To Its Goal.” Washington Praises The Baghdad Airport Control Unit

Baghdad today – Baghdad  Today, Sunday (September 10, 2023), the US Ambassador to Iraq, Alina Romanski, welcomed the opening of the air cargo control unit at Baghdad International Airport, noting that it represents an essential part of Iraq’s ability to combat illicit trade.

The ambassador posted on the social networking site "X" a picture of herself while giving a speech during the opening of the unit at Baghdad International Airport.

Romanski said, in a tweet, that “the safe movement of air cargo will encourage more trade between Iraq and the global economy, and reduce illicit trade and cross-border threats.”

She pointed out that the air shipper controller unit is funded by the Regional Export Control Program of the US Department of State.

She expressed "the respect of the United States of America for its Iraqi partners for their continued commitment to establishing border security for a more stable, secure, and sovereign Iraq."

She added, "The safety and security of our international partners is the security of the entire world." She also thanked the United Nations Office on Drugs and Crime for its hard work in establishing this unit, according to what was reported by the Iraqi News Agency.

She said, "Smugglers use legitimate goods to hide illegal shipments and the large volume of global trade and shipment movements makes it difficult for customs officials to enforce the law and discover illicit cargo, which is often hidden."

Romanski added, "By establishing this unit, Iraq is sending a strong message to the international community that it continues to work on customs procedures and monitoring goods transparently," noting that this step brings Iraq close to achieving its goal of more flights between Baghdad and major cities around the world. .

Earlier today, the head of the Border Ports Authority, Major General Omar Adnan Al-Waeli, announced the opening of a container monitoring unit at Baghdad International Airport with support from the United Nations Office on Drugs and Crime, which will contribute to monitoring containers and targeting dangerous global shipments based on an analysis of existing danger indicators. In shipping documents.   LINK

Points to Ponder on Truth:

A lie told often enough becomes the truth.   Lenin (1870 - 1924)

A lie can travel halfway around the world while the truth is putting on its shoes.  Mark Twain (1835 - 1910), (attributed)

Fiction is obliged to stick to possibilities. Truth isn't.  Mark Twain (1835 - 1910)

The history of our race, and each individual's experience, are sown thick with evidence that a truth is not hard to kill and that a lie told well is immortal.  Mark Twain (1835 - 1910), Advice to Youth

Truth is more of a stranger than fiction.  Mark Twain (1835 - 1910)

Truth sits upon the lips of dying men.  Matthew Arnold (1822 - 1888), 'Sohrab and Rustum,' 1853

The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth.   Niels Bohr (1885 - 1962)

The truth is rarely pure and never simple.   Oscar Wilde (1854 - 1900), The Importance of Being Earnest, 1895, Act I

Truth persuades by teaching, but does not teach by persuading.   Quintus Septimius Tertullianus (160 AD - 230 AD), Adversus Valentinianos

Truth is beautiful, without doubt; but so are lies.  Ralph Waldo Emerson (1803 - 1882)

I have been truthful all along the way. The truth is more interesting, and if you tell the truth you never have to cover your tracks.    Real Live Preacher, RealLivePreacher.com Weblog, January 04, 2004

I guess sometimes you have to lie to find the truth. Scott Westerfeld, Extras, 2007

Turns out if you never lie, there's always someone mad at you.   Scott Westerfeld, Extras, 2007

How often have I said to you that when you have eliminated the impossible, whatever remains, however improbable, must be the truth?    Sir Arthur Conan Doyle (1859 - 1930), (Sherlock Holmes) The Sign of Four, 1890

Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing ever happened.  Sir Winston Churchill (1874 - 1965)

Iraqi Economic News & Points to Ponder Sunday Evening 9-10-23

Iraqi Economic News & Points to Ponder Sunday Evening 9-10-23

Tlm724 Administrator Bondlady’s Corner

The Dollar Stabilizes At 155 Thousand Dinars In Local Markets

Economy   Sunday, September 10, 2023 Baghdad/National News Center   Today, Sunday, dollar prices witnessed stability in the markets of the capital, Baghdad.

The selling price in exchange shops in local markets in Baghdad reached 155,000 dinars per 100 dollars, while the purchase price reached 153,000 dinars per 100 dollars.   https://nnciraq.com/226105/

Central Bank Sales Amounted To More Than 197.5 Million Dollars

Economy News – Baghdad   Today, Sunday, the Central Bank of Iraq’s sales in the foreign currency sales window amounted to more than 197.3 million dollars.

The Central Bank’s website published its dollar sales schedule, which Al-Iqtisad News reviewed. It included the participation of 25 banks and 25 exchange companies, and foreign transfer requests covered $170.5 million, while cash requests amounted to more than $26.7 million.

The Central Bank of Iraq sells the dollar for documentary credits and international settlements for electronic cards at a price of 1,305 dinars per dollar, for every dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.

50 views   Added 09/10/2023 https://economy-news.net/content.php?id=36229

Meeting Of The Presidency Of The House Of Representatives With The Heads Of The Parliamentary Blocs

Sunday 10, September 2023 19:45 | Political Number of readings: 100   Baghdad / NINA / The Presidency of the House of Representatives held, today, Sunday, an expanded meeting with the heads of the parliamentary blocs.

To discuss issues and the agenda of the upcoming Council sessions, to complete the legislation of priority laws, especially related to the implementation of the government program, and to emphasize the need to resolve them within a specific period of time./End    https://ninanews.com/Website/News/Details?key=1076723

Deputy: Parliament Intends To Legislate The Oil And Gas Law In Its Current Session

Sunday 10, September 2023 14:06 | Economical Number of readings: 286   Baghdad / NINA / The Parliamentary Oil and Natural Resources Committee confirmed the House of Representatives’ intention to approve the oil and gas law during the current legislative session.

Committee member Representative Zainab Al-Khazraji said, in a press statement today, Sunday, that “one of the important laws that the House of Representatives intends to approve is the oil and gas law, which has been suspended since 2005,”

noting that “approving the oil and gas law will end all outstanding disputes between Baghdad and the region for years.” It will also contribute to preserving the fair distribution of wealth throughout Iraq.”  https://ninanews.com/Website/News/Details?key=1076634

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

https://www.bondladyscorner.com/

Points to Ponder on Criticism & Judgement :

He is wise who will keep an open mind  until he has fairly tested the  various proofs available  to him -  Unknown 

Reprove not a scorner, lest he hate thee; rebuke a wise man and he will love thee. - Bible

To escape criticism - do nothing, say nothing, be nothing. - Elbert Hubbard

In judging others, folks will work overtime for no pay.  - Charles Edwin Carruthers

He has a right to criticize, who has a heart to help.  - Abraham Lincoln

One man's word is no man's word; we should quietly hear both sides.  - Goethe

We should not judge people by their peak of excellence; but by the distance they have traveled from the point where they started.  Henry Ward Beecher

We judge ourselves by what we feel capable of doing, while others judge us by what we have already done.  - Henry Wadsworth Longfellow

Give every man thine ear, but few thy voice; Take each man's censure, but reserve thy judgment. - William Shakespeare

Some" Iraq News" Posted by Clare at KTFA 9-10-2023

KTFA:

Clare:  To end the dispute between the region and Baghdad. Parliament intends to legislate the oil and gas law in its current session

 Time : 2023/09/10 13:09:44

 {Political: Euphrates News} Member of the House of Representatives Zainab Al-Khazraji confirmed the determination of the House of Representatives to approve the oil and gas law during the current session to end all differences between Baghdad and the region.

Al-Khazraji said in a statement drawn by {Euphrates News}, that "the adoption of the oil and gas law will end all the differences that exist between Baghdad and the region, which have been pending for years."

He added, "Among the important laws that the House of Representatives intends to approve is the oil and gas law, which has been suspended since 2005," indicating that "its approval will contribute to preserving the fair distribution of wealth throughout Iraq.   LINK

Clare:  :  “Black gold mafias” in Iraq...holes that generate billions of dollars in the pockets of influential parties - Urgent 

Today, Sunday (September 10, 2023), oil affairs specialist Ghanem Hassan revealed the truth about the existence of crude oil “mafias” in Iraq.

Hassan told "Baghdad Today", "Crude oil mafias exist in the country, especially the southern governorates, and they are basically arms of powerful parties that steal oil by bypassing the main pipelines, but they are not able to drill any well and steal crude oil because the well-drilling mechanism is complex and requires huge resources." It can only be provided through the Ministry of Oil and international investment companies.”

He added, "The theft of oil takes place in the remote areas through which crude oil pipelines pass and is monitored from time to time," pointing out that "the Ministry of Interior dismantled, months ago, the largest network in the history of Iraq for stealing and smuggling oil in which senior officers were involved," noting that “The network revealed many secrets.”

He continued: "There are wells in northern Iraq being drilled by specialized companies, and oil is being smuggled away from the Iraqi Marketing Company (SOMO), and there are important parties involved in this act and they are monitored and known by those concerned." 

He pointed out that "Iraq's problem is smuggling, which represents a huge waste of the country's wealth, as it is sold for up to 40% less than its real price, and the money goes into the pockets of corrupt people, mafias, and the economic arms of certain parties."  

Black gold mafia

Observers indicate that due to the weakness of government oversight and the difference in fuel prices between the provinces of the region compared to other provinces and neighboring countries, oil smuggling operations are carried out by creating holes in the main transport pipelines by connecting high-pressure pipes to withdraw and smuggle the oil .

Prime Minister Muhammad Shiaa Al-Sudani announced on November 2, 2022, “the dismantling of the largest oil smuggling network in Basra Governorate, at a time when the National Security Service revealed the involvement of senior officers and employees, directors in the Energy Police and a number of associates in Basra Governorate, and the confiscation of 49 tanks.” With wheels prepared for smuggling, 93 dens and 496 tanks violating controls were found, in addition to the closure of 11 stations violating controls as well, while the smuggled quantities were estimated at 75 million barrels per month. 

By calculating the minimum return on sales from the smuggling network. If the value of one barrel is estimated at $50, the revenues generated from selling 75 million barrels would be approximately four billion dollars per month.

The revelation of the dismantling of a number of oil derivatives smuggling networks opens the door to the file of the “black gold mafia,” which has spread in the country under the auspices of a number of senior officials and police commanders, causing severe damage to the Iraqi economy and negatively impacting the livelihood of citizens  link

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Clare:  Iraq announces that its oil reserves have risen to nearly 6 billion barrels

2023-09-10 01:40

Iraqi Oil Minister Hayyan Abdul Ghani stressed on Sunday the need for the country to stop importing gas by investing in projects in this field, revealing that Iraq's oil reserves have risen to 6 billion barrels.

This came in a speech delivered during the launch of the activities of the first Iraq Conference and Exhibition for Oil Projects and licensing rounds in the field of oil and gas, which lasts 3 days in the capital, Baghdad.

Abdul Ghani said in his speech, which was attended by the correspondent of the Shafaq News Agency, that in dedication to the leading role of the Ministry of Oil in providing the necessary and basic resources to finance the Iraqi state budget, and supporting these resources with strategic projects that double the financial return and provide various opportunities in all sectors

This vital ministry has gone to sponsor and support exhibitions and conferences that are in the interest of the Iraqi economy, and the establishment of these exhibitions to promote the necessary economic projects to support the national economy and provide large financial resources to support the state budget Iraqis directly and indirectly and provide areas for the development of local industry in the field of oil, petrochemicals, refineries and other necessary projects.

He added that "this ministry has gone to create opportunities to develop the national economy and invest the natural resources available in all Iraq, and the ministry took the distribution of production from all provinces of Iraq because of these resources of direct reflection on the economic and cultural reality of all cities of Iraq."

Abdul Ghani also pointed out that "wherever oil and gas is, the local economy will develop and the ministry hopes that specialized international companies will participate in these promising tours and contribute to gas investment projects and maximize your production to reach self-sufficiency of this vital material and export the surplus abroad."

He pointed out that the Ministry of Oil will be supportive of all companies for the success of the tours by facilitating the necessary procedures for the work of these companies in the provinces of Iraq concerned with these fields and exploratory patches.

The Minister of Oil went on to say, "We in Iraq have made great strides to promote areas of investment in the oil sector through petroleum licensing rounds, starting from the first round to the fifth round, whose contracts were signed with the beginning of the formation of this government."

He revealed the increase in the national reserves of oil and gas by six billion barrels of oil, and gas reserves by 32 billion standard cubic feet of gas, adding: We can proudly display the progress made by the Ministry of Oil during the year of the life of this government, a contract has been signed to develop the Aredo oil field with a production capacity of 250 thousand barrels per day, and the completion and operation of the strategic Karbala refinery with a capacity of 140 thousand barrels per day, which is now in the final stages of the final trial operation where it works This refinery is under the international specifications "Euro Five", and it is considered one of the environmentally friendly refineries.    LINK

Clare:  In a month. The Iraqi Stock Exchange trades 67 billion shares worth 39 billion dinars

2023-09-10 03:40

Shafaq News / Iraq Stock Exchange announced on Sunday the trading of 67 billion shares with a financial value of more than 39 billion dinars during the month of August.

The market said in a report seen by Shafaq News Agency, that "the number of companies traded shares during August amounted to 72 joint stock companies, out of 103 companies, while the shares of 26 companies were not traded due to the difference in prices offered from those required by investors, while 5 companies continue to stop for not submitting disclosure."

He added that "the number of traded shares amounted to 67 billion and 578 million and 9 thousand shares with a financial value of 39 billion and 455 million dinars through the implementation of 22983,60 transactions," noting that "the index of traded prices ISX809 closed at 15 points, recording an increase of <>% from the opening of the market."

He pointed out that "the number of shares purchased from non-Iraqi investors for the month of August amounted to 1.522 billion shares with a financial value of 3.582 billion dinars through the trading of 17 joint stock companies, while the number of shares sold by non-Iraqi investors reached 742 million shares with a financial value of 1.582 billion dinars through the trading of 17 joint stock companies."

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

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Clcare:  Erdogan announces a major trade corridor linking Turkey with Iraq, Saudi Arabia and the UAE

Turkish President Recep Tayyip Erdogan has announced a major trade corridor project linking Turkey with Saudi Arabia and the United Arab Emirates via Iraq.

Erdogan said in a press statement today at the end of the G20 summit meetings in the Indian capital, New Delhi, that Turkey is discussing with Saudi Arabia, the UAE, and Iraq in order to establish this trade corridor, which is a global trade artery that enhances economic and trade ties between various countries of the world.

Erdogan pointed out that the trade corridor will start from Saudi Arabia and the United Arab Emirates, then Basra and through Iraqi territory to Turkey, and that this project aims to enhance trade exchange between countries and facilitate the movement of goods and commodities between them.

Erdogan expressed his desire to take rapid and important steps in the implementation of this project during the coming period because of its importance, as it is expected that the trade corridor will have a significant impact on strengthening the economy and strengthening bilateral relations between the three countries, and it is expected that this new project will inject life into the transport, shipping and trade sectors in that region.

He explained that this project will improve maritime and land trade, facilitate and accelerate transport and shipping operations, which contributes to strengthening economic and trade ties between countries and this corridor will have a positive impact on the development of transport and trade zones across key regions in the Middle East.    LINK

Goldilocks' Comments and Global Economic News for September 10th

Goldilocks' Comments and Global Economic News for September 10th

Good afternoon Dinar Recaps,

President Biden has a meeting with Vietnam on September the 10th through the 11th. The topics they are going to cover are the following:

* Parliamentary cooperation

* Sustainable development

* Creation of new and stronger bilateral and multilateral mechanisms for economic, trade, and investment cooperation

Interestingly, Iraq has a meeting with Saudi Arabia to do the same thing. And, we all know they are moving toward trades in local currency mechanisms only.

Both of these agreements include a comprehensive agreement which is a more detailed agreement that enhances the economy of all countries involved. More demand on currencies creates more value in their prices.

© Goldilocks

Search4dinar WordPress

VietnamNews Link

WorldBank Link

LawInsider Link

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G20 Summit: India, US, Gulf states likely to sign mega infrastructure deal to connect Middle East | The Financial Express
https://www.financialexpress.com/business/infrastructure-g20-summit-india-us-gulf-states-likely-to-sign-mega-infrastructure-deal-to-connect-middle-east-3237251/

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Ripple’s XRP Primed For Ballistic Rally Amid Adoption By Banks in Indonesia, Philippines, Vietnam

https://zycrypto.com/ripples-xrp-primed-for-ballistic-rally-amid-adoption-by-banks-in-indonesia-philippines-vietnam/

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New Digital Asset Regs a ‘Huge Milestone,’ Crypto Tax Expert Says
https://tax.thomsonreuters.com/news/new-digital-asset-regs-a-huge-milestone-crypto-tax-expert-says/

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NPCI unveils a suite of digital-payment products https://www.thehindu.com/business/npci-unveils-a-suite-of-digital-payment-products/article67278029.ece

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🇨🇳 (https://twitter.com/MultiPolarMarkt) As for the 2026 summit in US...

Interestingly, according to the four sources, China has raised objections to the US taking over the presidency of the G20 countries in 2026, as already announced by President Joe Biden's administration.

According to the sources, Beijing has asked for its displeasure to be recorded, but the insiders were not aware of the reasons for it.

China's objections were supported by Russia, according to one of the sources.

https://twitter.com/MultiPolarMarkt

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"The International Monetary Fund and World Bank on Thursday issued a rare joint statement pledging to step up their cooperation to address climate change, debt vulnerabilities, and countries' digital transitions.

The statement, released ahead of a G20 leaders summit in India this week, said the two institutions can help address mounting challenges facing the global economy - from increasing climate disasters to slowing growth and geopolitical fragmentation - by working together.

The Bretton Woods institutions, with their universal membership and specialist expertise, are well-placed to make a critical contribution to help countries tackle these challenges," IMF Managing Director Kristalina Georgieva and World Bank President Ajay Banga said in the joint statement."

The Bretton Woods System is a set of unified rules and policies that provides the framework necessary to create international currency exchange rates. Essentially, the BW system allows the IMF to determine rates of exchange for currencies around the world.

"The IMF and World Bank were established in 1944 at a meeting in Bretton Woods, New Hampshire."

This BW2 agreement gave the IMF and World Bank the power to preserve economic stability in the world.

We now have some big players stepping up to cooperate and implement new changes to the global economy. It looks like we have a BW3 establishment just around the corner.

The IMF and World Bank have made a commitment to step up in their cooperation to move us into a new digital economy to help deal with debt and climate issues.

© Goldilocks

VNExpress LINK

LinkedIn Link

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16.3 The Bretton Woods Institutions - Introduction to Political Science | OpenStax
https://openstax.org/books/introduction-political-science/pages/16-3-the-bretton-woods-institutions

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What are the 5 key elements under BRETTON WOODS  - Brainly.ph

https://brainly.ph/question/6514888

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I.R.S. Deploys Artificial Intelligence to Catch Tax Evasion - The New York Times
https://www.nytimes.com/2023/09/08/us/politics/irs-deploys-artificial-intelligence-to-target-rich-partnerships.html

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Morgan Stanley To Debut an AI Banking Assistant for Wealthy Clients - The Messenger
https://themessenger.com/tech/morgan-stanley-to-debut-an-ai-banking-assistant-for-wealthy-clients

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US, Saudi Arabia in talks to secure metals in Africa, Wall Street Journal reports

Reuters Link

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Make your payment transaction data actionable in real-time

https://www.intix.eu/xponential/insights/make-your-payment-transaction-data-actionable-in-real-time

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Follow Goldilocks' Timeline

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Goldilocks on the Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Iraqi Economic News & Points to Ponder Sunday Afternoon 9-10-23

Iraqi Economic News & Points to Ponder Sunday Afternoon 9-10-23

Tlm724 Administrator Bondlady’s Corner

Sudanese Advisor: A Government Movement To Recover Iraqi Money Stolen From Abroad

Economy |  09/10/2023  Baghdad - Mawazine News  The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Sunday, an official government movement to recover Iraqi funds stolen from abroad, while stressing that Iraq’s joining the international “Agmont” group will facilitate the exchange of information on criminal proceeds, money laundering, and terrorist financing.

Saleh told the official agency, followed by Mawazine News, that “Article 14 of the Money Recovery Law No. 7 of 2019 obligated the government, when it concludes investment or economic agreements with any country in which there is money for Iraq, to ​​include in the provisions of the Money Recovery Law, including the money that was smuggled.” After 2003 due to corruption operations and various economic and financial crimes.”

He added, "The article has come into effect, as the agreements stipulated in the aforementioned article are being followed with great care, whether through the policies and procedures of the Money Recovery Fund itself or its effective and important executive arm, which is the Money Recovery Department in the National Integrity Commission,"

noting that "Iraq is an active member of the organization International Financial Action for the Middle East and North Africa region is a multilateral international organization that helps member states coordinate operations to combat money laundering, crime funds and terrorism in its various forms through the Anti-Money Laundering Office at the Central Bank, which is an important arm and the basis for national and international cooperation on the issue of money recovery.” .

He pointed out that "there is an ongoing official movement and efforts being carefully made to follow up and recover Iraq's stolen funds, specifically through the mechanism of the Iraqi judicial system and the foreign relations of Iraqi diplomacy, which provides means of defending our country's looted funds before the courts in the jurisdictional areas of various foreign countries."

Saleh continued, "In addition to the effective role of Article 14 in the Recovery Fund Law, there is serious and ongoing cooperation between Iraq and the United Nations Development Program in providing legal and procedural means to recover funds through the United Nations Convention against Corruption."

He noted that "Iraq joined this year to become a member of the (Agmont Group), a group that includes 167 countries so far and works to facilitate the exchange of information on criminal proceeds, money laundering and terrorist financing at the international level by providing the Anti-Money Laundering Office with a secure communications network with countries."

 The world, in a way that contributes to monitoring the movement of funds internationally and strengthening financial investigation procedures to lead to the recovery of funds and assets.” https://www.mawazin.net/Details.aspx?jimare=234740

Kurdistan Achieves More Than 2 Trillion Dinars From The Sale Of 41.2 Million Barrels, And Baghdad Owes 924 Billion To Erbil.

Money  and business  Economy News – Baghdad  Economic expert Nabil Al-Marsoumi revealed on Sunday that the revenues achieved in the Kurdistan region during the first half of 2023 amounted to 3.15 trillion dinars, while he indicated that Baghdad owes Erbil an amount of 924 billion dinars.

Al-Marsoumi wrote in a blog post on his personal account on the Facebook platform, followed by Al-Eqtisad News, that “the oil revenues of the Kurdistan region during the first quarter of 2023 amounted to $2.2 billion according to the Deloitte report, while oil revenues during the second quarter of 2023 were $226 million.”

He added, "The total oil revenues during the first half of 2023 amounted to 2.426 billion dollars, which is equivalent to 3.128 trillion dinars, while the non-oil revenues during the first half of 2023 were 1.848 trillion dinars, while the total public revenues during the first half of 2023 were 4.976 trillion dinars." The region’s total production during the first half of 2023 is 41.2 million barrels.”

Al-Marsoumi added, "Under the 2023 budget law, Baghdad pays the region $10 for the costs of producing, transporting, and marketing each barrel of crude oil produced, meaning it pays $412 million, equivalent to 535.6 billion dinars, from sovereign expenditures and not from the region's net share."

He continued, “Under the Financial Management Law, the region receives 50% of non-oil revenues, equivalent to 924 billion dinars during the first half of 2023, and when all of that is subtracted from the region’s total revenues, the net public revenues achieved by the region in the first half of 2023 will equal 2.315 trillion dinars,” pointing out. Until “the response to the numbers is in the numbers and not as so-and-so said!!.” According to his expression.

132 views  Added 09/10/2023 - https://economy-news.net/content.php?id=36228

Iraq's Oil Reserves Increased To Nearly 6 Billion Barrels

Iraqi Oil Minister Hayyan Abdul Ghani confirmed on Sunday that Iraq’s oil reserves had risen to 6 billion barrels.

This came in a speech he delivered during the launch of the activities of the first Iraqi conference and exhibition for oil projects and licensing rounds in the field of oil and gas, which lasts for 3 days in the capital, Baghdad.

Abdul Ghani said in his speech that, in order to dedicate the pioneering role of the Ministry of Oil in providing the necessary and basic resources to finance the Iraqi state budget, and supporting these resources with strategic projects that double the financial return and provide various opportunities in all sectors,

This vital ministry has gone to sponsor and support exhibitions and conferences that serve In the interest of the Iraqi economy, providing large financial resources to support the Iraqi state budget directly and indirectly and providing areas for developing the local industry in the field of oil and petrochemicals, refineries and other necessary projects.

Abdul-Ghani also pointed out that “wherever there is oil and gas, the local economy will develop, and the Ministry hopes that specialized international companies will participate in these promising rounds and contribute to gas investment projects in order to achieve self-sufficiency for this vital material and export its surplus abroad.”   https://www.radionawa.com/all-detail.aspx?jimare=35631

The Chairman Of The Investment Authority Talks About A “Pioneer Project” In Generating Electric Power

Energy    Economy News – Baghdad   On Sunday, Chairman of the Investment Authority, Haider Muhammad Makkiya, chaired a meeting on the waste recycling and electric energy production project.

Makiya said during the meeting, according to a statement by the authority, that “the waste recycling project and the production of electrical energy through incineration will be a pioneering project in energy generation according to standards and terms of comparison between investors and companies.”

He added, "The meeting aimed to form a specialized ministerial committee of parties concerned with environment and energy, the Baghdad Municipality, and the National Authority, considering that the project will be a great investment opportunity."

He continued, "One of the committee's tasks will be to determine the criteria for applying for the project and the conditions for comparison between investment companies to provide the best methods for implementation."

Views 68   Added 09/10/2023 - https://economy-news.net/content.php?id=36235

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

https://www.bondladyscorner.com/

Points to Ponder From Socrates on Rumors

Heard Any Rumors? Told Any Rumors?

Keep this philosophy in mind the next time you hear or are about to repeat, a rumor.

In ancient Greece (469 - 399 BC), Socrates was widely lauded for his wisdom. One day the great philosopher came upon an acquaintance, who ran up to him excitedly and said, "Socrates, do you know what I just heard about one of your students...?"

"Wait a moment," Socrates replied. "Before you tell me, I'd like you to pass a little test. It's called the Test of Three."

"Test of Three?"

"That's correct," Socrates continued.

"Before you talk to me about my student let's take a moment to test what you're going to say. The first test is Truth. Have you made absolutely sure that what you are about to tell me is true?"

"No," the man replied, "actually I just heard about it."

"All right," said Socrates. "So you don't really know if it's true or not. Now let's try the second test, the test of Goodness. Is what you are about to tell me about my student something good?"

"No, on the contrary..."

"So," Socrates continued, "you want to tell me something bad about him even though you're not certain it's true?"

The man shrugged, a little embarrassed.

Socrates continued, "You may still pass though because there is a third test - the filter of Usefulness. Is what you want to tell me about my student going to be useful to me?"

"No, not really..."

"Well," concluded Socrates, "if what you want to tell me is neither True nor Good nor even Useful, why tell it to me at all?"

The man was defeated and ashamed and said no more.

This is the reason Socrates was a great philosopher and held in such high esteem.

"Tidbits From TNT" Sunday 9--10-2023

TNT:

CandyKisses:   Iraq and Saudi Arabia discuss the role of parliamentary diplomacy in strengthening relations between the two countries

The Office of the Speaker of the House of Representatives said in a statement, "Al-Halbousi is the delegation of the Saudi-Iraqi Friendship Committee in the Shura Council, in the presence of the President and members of the Joint Parliamentary Friendship Committee in the House of Representatives."

The statement added that "the meeting discussed bilateral relations, the role of parliamentary diplomacy in strengthening relations between the two brotherly countries, the importance of parliamentary cooperation, and the coordination of positions in international, Islamic, Arab and Asian parliamentary forums on issues of common interest."

He continued, "The meeting stressed the importance of parliamentary support and continued communication to enhance cooperation between Iraq and Saudi Arabia in all fields in the interest of the two brotherly peoples." 

CandyKisses:  Iraq ranks 122nd globally and ninth in the Arab world with the highest inflation rate

Economy News _ Baghdad

Iraq ranked 122nd globally and ninth in the Arab world with the highest inflation rate for the year 2022, according to the magazine CEOWORLD specialized in statistics.

The magazine said in a report seen by "Economy News", that "consumer prices are being distorted due to supply chain disruptions and high energy costs caused by geopolitical tensions, and as a result, inflation rates rise in almost half of the countries of the world, where inflation rates reach the digit of dozens or higher," noting that "28 countries were not included in the table because there was no official statistics for them in 2022, such as Iran, Angola and Lebanon, which finally reached inflation in 2021." about 155%."

At the global level, "Sudan recorded the first in the world in inflation rates of 139%, Zimbabwe comes second 105%, Turkey third 72%, Suriname fourth 52%, Sri Lanka fifth 50%, Haiti 34%, Guinea 31%, Moldova 29%, Sierra Leone 27%, Lao Democratic Republic 23%, Malawi 21%, and Ukraine 20% the highest rates in the world."

She pointed out that "Iraq ranked 122nd globally out of 150 countries listed in the table and ranked ninth in the Arab world with the highest rate of inflation, as inflation in Iraq reached 5% in 2022, down from 2021, which amounted to 6%, and up from 2020, which was 1%."

Sudan came with the highest inflation rate at the global and Arab levels at 139%, followed by Egypt second 14%, Mauritania third 10%, Algeria fourth 9%, Tunisia fifth 8%, Morocco sixth 7%, Djibouti seventh 5%, Qatar eighth 5%, Iraq ninth, UAE tenth 5% and Jordan 11th 4%, according to the magazine report

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Tishwash:  Al-Fateh: 2023 is the year of American failure in Iraq after its failure to pass four malicious plans

On Sunday, the leader of the Al-Fatah Alliance, Uday Abdul Hadi, described 2023 as the year of failure of American plans in Iraq.

Abdul Hadi said in an interview with Al-Maalouma, “Washington is deliberately pursuing a multiple agenda in the Iraqi arena, the first and last goal of which is to make it weak and in a state of instability, while pushing to keep the infrastructure of services, especially in the energy file, marginalized and unable to meet the local demand for electricity in order to use it as a card.” Pressure on governments.

He added, "2023 can be described as a year of failure for the American agenda, starting from its failure to disrupt the oil agreement with Tehran to the continuity of importing gas to maintain the operation of electricity production plants after the failure of 4 attempts to disrupt it, all the way to confronting attempts to use the dollar to create an economic crisis through the markets by raising the prices of materials." "food".

He pointed out that "the American role in the Middle East has begun to decline significantly, especially since many countries have begun to distrust Washington as it is the main cause of many crises and was behind the emergence of a series of terrorist organizations over the past 4 decades."

America has a series of military bases in the Middle East, including Iraq, and it is trying through hegemony to impose its agenda, which primarily takes into account the interests of Tel Aviv. link

Mot: Careful on What Ya Helps the ""Wee Folks"" Learn about!!! --- LOL

Mot:  when my daughter was a tween. 

Iraqi Economic News and Points to Ponder Sunday AM 9-10-23

Iraqi Economic News and Points to Ponder Sunday AM 9-10-23

The Central Bank Decides To Collect Cash Deposits In Iraqi Dinars

Al-Hayat News:  Today, the Central Bank of Iraq took “two urgent decisions” to strengthen the Iraqi dinar’s ability to trade in foreign currencies within the country.

The Central Bank media stated in a statement received by Al-Hayat News that, “All cash insurances will be collected in the dinar currency exclusively for internal credits, bank guarantees, and letters of guarantee issued for the benefit of the beneficiary entities (governmental and private), even if they are in the dollar currency and at the official exchange rate.”

He added, “It was decided that payment of the amounts of letters of guarantee upon confiscation will be made exclusively in the Iraqi dinar currency and at the official exchange rate.”

According to the statement, the Iraqi Central Bank called on “all licensed banks to take the necessary measures in accordance with what was stated above.”

https://allhayat-net.translate.goog/?p=173416&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

His Strongest Companies Are Babel Hotel And Pepsi

The Iraqi stock market.. is the last place to trade the “penny” and its “black” market deceives the price of the dollar

 2023-09-09 | Baghdad 964   Economists said that the Iraqi Stock Exchange relies on the shares of leading companies such as Babel Hotel and Pepsi, while most of the other listed institutions have their shares sold at a low price, less than a dinar, so that the value is recorded in “fils,” a currency that has been no longer in circulation for many years. .    https://964media.com/212909/

To End The Dispute Between The Region And Baghdad, Parliament Is Determined To Legislate The Oil And Gas Law In Its Current Session

Time: 09/10/2023 Read: 598 times  {Politics: Al-Furat News} Member of the House of Representatives, Zainab Al-Khazraji, confirmed the House of Representatives’ intention to approve the oil and gas law during the current session to end all existing disputes between Baghdad and the region.

Al-Khazraji said in a statement received by {Al-Furat News}, “Approving the oil and gas law will end all existing disputes between Baghdad and the region that have been pending for years.”

She added, "Among the important laws that the House of Representatives intends to approve is the oil and gas law, which has been suspended since 2005," indicating that "its approval will contribute to preserving the fair distribution of wealth throughout Iraq."  LINK

An Economist Showing The Extent To Which Budget Expenditures Can Be Covered After OPEC Decisions

Information / Baghdad...The economic expert, Safwan Qusay, explained on Sunday the extent of the possibility of covering budget expenses with OPEC’s decisions to reduce oil exports by 211 thousand barrels per day.

Qusay told Al-Maalouma, “The oil fields of Kirkuk and the region are distinguished by the fact that their prices are at the same level as the prices of Brent oil, and Iraq can bear the burden of losing its increased exports from the fields of the south because the price difference tends towards exports from the fields of Kirkuk and the region, so everyone is seeking to restore the export line.” To the Turkish port of Ceyhan.

He added, "Despite Iraq's compliance with OPEC's decision to reduce exports by 211,000 barrels per day, the total impact is $3 billion annually," pointing out that "increasing the oil price to $74 means that it will cover the approved cuts on Iraqi oil, while Prices are rising to more than $80 per barrel.

He stated, "Iraq needs the price of a barrel of oil to be at the threshold of $74 per barrel, in order to cover budget expenses."

He pointed out that "actual revenues cover the actual need in the budget and even more than it, despite OPEC's decision to reduce exports." Ended 25 n

Iraq Announces An Increase In Its Oil Reserves To Approximately 6 Billion Barrels

2023-09-10 Shafaq News/ The Iraqi Oil Minister, Hayyan Abdul Ghani, stressed on Sunday the need for the country to stop importing gas by investing in projects in this field, revealing that Iraq’s oil reserves have risen to 6 billion barrels.

This came in a speech he delivered during the launch of the activities of the first Iraqi conference and exhibition for oil projects and licensing rounds in the field of oil and gas, which lasts for 3 days in the capital, Baghdad.

Abdul Ghani said in his speech, which was attended by a Shafaq News Agency correspondent, that in order to dedicate the pioneering role of the Ministry of Oil in providing the necessary and basic resources to finance the Iraqi state budget, and supporting these resources with strategic projects that double the financial return and provide various opportunities in all sectors, this vital ministry went to Sponsoring and supporting exhibitions and conferences that are in the interest of the Iraqi economy, and these exhibitions promote the economic projects necessary to support the national economy and provide large financial resources to support the Iraqi state budget directly and indirectly and provide areas for developing the local industry in the field of oil and petrochemicals, refineries and other necessary projects.

He added, "This ministry has sought to create opportunities to develop the national economy and invest in all the natural resources available in Iraq, and the ministry has undertaken to distribute production from all governorates of Iraq because these resources have a direct impact on the economic and cultural reality of all cities in Iraq."

Abdul-Ghani also pointed out, “Wherever there is oil and gas, the local economy will develop, and the Ministry hopes that specialized international companies will participate in these promising rounds and contribute to gas investment projects and maximize your production to reach self-sufficiency for this vital material and export the surplus abroad.”

He noted that the Ministry of Oil will support all companies in order to make the tours successful by facilitating the necessary procedures for the work of these companies in the governorates of Iraq concerned with these fields and exploratory patches.

The Minister of Oil went on to say, "We in Iraq have made great strides to enhance areas of investment in the oil sector through the rounds of petroleum licensing, starting from the first round to the fifth round, whose contracts were signed at the beginning of the formation of this government."

He revealed an increase in the national reserve of oil and gas by six billion barrels of oil, and gas reserves by 32 billion standard cubic feet of gas, adding: We can proudly display the progress made by the Ministry of Oil during the year of this government’s life, as a contract was signed to develop a field.

Erido Oil Company with a production capacity of 250 thousand barrels per day, and the completion and operation of the strategic Karbala refinery with a capacity of 140 thousand barrels per day, and it is now in the final stages of final trial operation as this refinery operates according to the international specifications “Euro Five”, and it is considered one of the environmentally friendly refineries.  LINK

Points to Ponder From Albert Einstein

The intellect has little to do on the road to discovery -- There comes a leap in Consciousness, call it intuition or what you will -- and the solution comes to you and you don't know how or why ~~ Albert Einstein

“Imagination is more important than knowledge - For while knowledge defines all we currently know and understand, imagination leads us to all we might yet discover and create.” - Albert Einstein

"Great spirits have always found violent opposition from mediocre minds. The latter cannot understand it when a man does not thoughtlessly submit to hereditary prejudices but honestly and courageously uses his intelligence"  Albert Einstein 

Iran and Vietnam News Posted by Harambe at TNT 9-9-2023

TNT:

Harambe:  Iran to remove dollar from tourism ties with regional states - Mehr News Agency (9/9/23)

TEHRAN, Sep. 09 (MNA) – The Governor of the Central Bank of Iran (CBI) announced that the dollar will be removed from tourism exchanges with the countries of the region.

Currently, Iran's trade transactions with other countries are generally carried out in euro, dirham, yuan, ruble, rupee, and dinar currencies, the CBI governor Mohammadreza Farzin said on Saturday.

Tourism and non-commercial transactions are made with the dominant currencies of the euro and the dollar, Farzin noted.

He further added that removing the dollar from non-commercial and tourist transactions happened for the first time in the country during the Arbaeen pilgrimage this year.

Extending the satisfactory experience of Arbaeen (removing dollar) to other countries in the region is under expert review and operational planning, he added.

https://en.mehrnews.com/news/205795/Iran-to-remove-dollar-from-tourism-ties-with-regional-states

Harambe:  Top US chipmakers, tech firms to attend Vietnam meeting as Biden visits | CNA (9/9/23)

HANOI : Top U.S. semiconductors and digital companies including Intel, GlobalFoundries and Google are expected to attend a business meeting on Monday in Hanoi as President Joe Biden visits Vietnam to boost ties, two people familiar with the plan said.

The meeting, which is still being arranged, would confirm U.S. plans to boost Vietnam's global role in different segments of chipmaking, as part of Washington's broader strategy to reduce the sector's exposure to China-linked risks, including trade restrictions and tensions over Taiwan.

Senior executives from Google, Intel, Amkor, Marvell, GlobalFoundries and Boeing are among expected attendees, according to a partial list that a person familiar with the plans discussed with Reuters.

The companies did not immediately respond to requests for comment outside business hours.

The second person familiar with the plans confirmed the presence of several large U.S. chips companies, including Amkor, their Vietnamese partners, such as tech company FPT, and Vietnamese and U.S. top officials, including Secretary of State Antony Blinken.

Semiconductors are expected to be a focal point during Biden's visit to Hanoi on Sunday and Monday, U.S. administration officials said, as the White House seeks to formally elevate relations with the former foe.

The roundtable has not been announced, and it is unclear whether announcements will be made by any of the companies attending the meeting, which one of the sources said would involve about 30 top executives and officials.

Some of those on the list have already invested or announced investments in Vietnam.

Intel has a $1.5 billion factory in southern Vietnam for assembling, packaging and testing chips, the biggest in its global network, and has had plans to expand it.

Amkor is building near Hanoi "a state-of-the-art mega factory for semiconductor assembly and testing," Treasury Secretary Janet Yellen said on a visit to Hanoi in July. The company has dozens of open positions on its Vietnam web page.

Chip designing firm Marvell has said it plans to build a "world-class" centre in Vietnam. 

U.S. officials have repeatedly said that assembling and designing were the segments of the chipmaking industry where Vietnam was likely to grow faster, although a shortage of engineers could slow the industry take-off.

Vietnam has also ambitions to build its own chipmaking factories, or fabs. GlobalFoundries is specialised in making integrated circuits on wafers for smartphones, cars and other applications.

Vietnam is a major exporter of smartphones and electronics.

An executive at a major U.S. chips firm said the Vietnamese government had been holding meetings with most major chips companies in the country, including Intel, Samsung and Qualcomm, to ask for advice on setting up the country's first fab.

U.S. officials have also said an upgrade of formal ties with Vietnam could help collaboration on artificial intelligence (AI), a sector in which Google is a major global player.

Vingroup, Vietnam's largest conglomerate and the parent of Nasdaq-listed electric car maker VinFast, has a unit focussed on AI.

Boeing may announce a deal involving the sale of 50 of its 737 MAX jets, people familiar with the matter told Reuters. Boeing declined to comment.

https://www.channelnewsasia.com/business/exclusive-top-us-chipmakers-tech-firms-attend-vietnam-meeting-biden-visits-3758281

Harambe:  US President’s visit to Vietnam an important milestone for both countries | Vietnam+ (9/9/23)

Hanoi (VNA) – US President Joe Biden’s State visit to Vietnam will be an important milestone for both countries and help elevate bilateral relations to a new height, said Le Thu Ha, Vice Chairwoman of the National Assembly (NA)’s Committee for External Relations and deputy head of the Vietnam - US Friendship Parliamentarians Group.

Talking to the Vietnam News Agency, Ha said the September 10-11 visit, to be made at the invitation of Party General Secretary Nguyen Phu Trong, is of great significance to bilateral relations, especially amid the 10th anniversary of their comprehensive partnership.

The US is one of the leading partners of Vietnam. Over the recent past, their comprehensive partnership has developed intensively and substantively in priority cooperation areas, including politics - diplomacy, security - defence, economy - trade - investment, education, science - technology, health, environment, settlement of war consequences, and promotion of human rights, with the connections in economy, finance, trade, and investment being a pillar.

The two countries have continued coordinating closely with each other in international and regional issues of shared concern, especially within the framework of the United Nations Security Council and the mechanisms of the Association of Southeast Asian Nations (ASEAN), she noted.

The official went on to say that the US Congress has a particularly important role to play in developing and intensifying the comprehensive partnership with Vietnam, and that parliamentary cooperation is an important part of bilateral ties.

Thanks to both sides’ efforts, the cooperation between the Vietnamese NA and the US Congress has enjoyed great strides as seen in increased mutual visits at all levels, along with meetings and opinion sharing between their specialised agencies, parliamentarians, and assistants to parliamentarians.

US legislators have affirmed that the relationship with Vietnam is among the few issues securing consensus between both the Democratic Party and the Republican Party, as well as between the Senate and the House of Representatives, according to Ha.

She perceived that the outcomes of President Biden’s visit will help elevate the countries’ relations to a new height and in an increasingly substantive manner for the sake of peace, cooperation, and sustainable development.

She also expressed her hope that the two sides will coordinate closely to set up and implement new and more effective bilateral and multilateral mechanisms for economic, trade, and investment cooperation to promote fast and sustainable development of trade and investment links.

https://en.vietnamplus.vn/us-presidents-visit-to-vietnam-an-important-milestone-for-both-countries-official/267688.vnp