Vietnam"s next phase of growth on horizon | VIR (10/31/23)

TNT:

Harambe:  Vietnam"s next phase of growth on horizon | VIR (10/31/23)

Vietnam is expected to enter a new phase of growth as the country is looking to unlock its tremendous potential and capitalise on the growing interest of international business leaders and investors.

Within the framework of Vietnam Venture Summit 2023 on October 30, the Vietnam National Innovation Centre (NIC) and Golden Gate Ventures launched a report outlining the country’s growth trajectory. “Road to Greatness: Rewriting Vietnam’s Growth Playbook” pulls back the curtain on Vietnam’s economic resilience and examines what is under the hood of Vietnam’s growth in the next few years.

Unlike many other growth markets around the world and particularly in Asia, Vietnam has written its own playbook for success, capitalising on both a long-term view of growth and an agility to move with the changing economic environment to create a resilience that has withstood the challenges of 2023.

Since 2018, global manufacturers have increasingly shifted production to Vietnam due to escalating global politics, with the momentum building across 2021 all through 2023. This was buoyed by Vietnam’s focus on creating an increasingly supportive business environment, its well-educated workforce, low labour costs and favourable global trade agreements. This five-year track record has positioned Vietnam as the natural answer to emerging global supply chain issues. As the global supply chain shift continues with manufacturing as a key driver, Southeast Asia will be the standout winner, with Vietnam leading its neighbours.

2023 has also marked a new phase in Vietnam’s position as a global economic powerhouse as it strengthened strategic global partnerships with Israel, China, the Philippines and Singapore. Most recently, it elevated its relations with the United States to a Comprehensive Strategic Partnership, marking a new era of enhanced bilateral cooperation. Taken in totality, these trade agreements create a long-term runway for Vietnam not only as a leading manufacturing hub but as a centre for high-value foreign direct investment.

“In a year that has proven challenging for most economies, Vietnam has shifted its economic development into high gear, cementing itself as the new epicentre of Asia’s growth. With a firm hold on the global supply chain, continued investment from multi-nationals, and a thriving startup ecosystem that is feeding the world’s appetite for innovation, Vietnam finds itself in a unique position of writing a new playbook for growth that other markets will follow,” said Vinnie Lauria, founding partner at Golden Gate Ventures.

A testament to Vietnam’s steady rise as an economic power is the country’s biggest line-up of international listings. On the heels of the international listings of Vinfast and Society Pass in 2023, the next 18 months will be dominated by anticipated listings of VNG, TIKI and CrownX.

“Vietnam has swiftly risen to prominence in Asia and continues to be a key area of focus for the NYSE,” said Delano Musafer, Head of Asia-Pacific Capital Markets at the New York Stock Exchange. “I am excited by the number of Vietnamese companies showcasing continued innovation, growth and scalability.”

According to the report, five key sectors are predicted to dominate Vietnam’s growth, including healthtech, fintech, tech-enabled logistics, green economy and edtech. Healthcare spending per capita in Vietnam has tripled over the last five years with the rising consumer class and influx of expatriates into the country. The transaction value of the fintech sector is set to grow at an aggressive 15 per cent CAGR over the next four years to address 70 per cent of the population that still remains unbanked.

Meanwhile, in the tech-enabled logistics segment, asset-light models have become the game-changer. On the green economy front, Vietnam is leading Southeast Asia’s clean energy drive with wind and solar power innovations, while edtech is a natural growth sector with the increased attention that Vietnam has gained as an investment hub.

https://vir.com.vn/vietnams-next-phase-of-growth-on-horizon-106491.html

"Tidbits From TNT" Tuesday 10-31-2023

TNT:

Tishwash:  Iraq and Iran are discussing using their currencies in trade and financial transfers

Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani received the Minister of Industry, Mines and Trade of the Islamic Republic of Iran, Abbas Aliabadi, and discussed economic relations between the two countries, and ways to enhance them and strengthen exchange and partnership at various levels and fields.

Payne stated to the Prime Minister's Office, a copy of which {Al-Furat News} received, that Al-Sudani indicated during the meeting "Iraq's readiness to open horizons for bilateral cooperation in the field of petrochemical and fertilizer industries, because of their strong impact in promoting internal development."

For his part, the Iranian Minister conveyed the greetings of the President of the Islamic Republic of Iran, Ebrahim Raisi, and his emphasis on the necessity of proceeding with fruitful economic integration projects, in the face of the economic challenges witnessed by the region and the world.

The meeting also witnessed discussion of the possibility of moving towards using the national currencies of the two countries in trade exchange and bilateral financial transfers, in order to have more flexibility in dealing, for the benefit of the two countries.   link

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Tishwash:  A secure future for faster and easier financial transfers electronically.. The Central Bank officially launches the “Visa Direct” service

 Report...Youssef Salman... The Central Bank of Iraq announced the launch of the “Visa Direct” service to facilitate financial transfers, in coordination with the international company “Visa” and cooperation with the First Bank of Iraq, which is the first digital bank in Iraq.

The Visa Direct service is a direct financial transfer service for bank customers in Iraq. It was launched digitally, for the first time, through a special application. Every customer in the First Iraq Bank (FIB) can transfer five million dinars daily, and 13 million dinars monthly. Calculated at the official exchange rate.

Counselor Mazhar Muhammad Salih read the speech of the Prime Minister, Muhammad Shia al-Sudani, on his behalf during the official announcement of the launch of the service in the capital, Baghdad, by saying that “the ministerial program attaches importance to developing digital payment systems in our country.”

He added, "Iraq urgently needs to prepare and prepare all stakeholders in the electronic payment system to ensure full adoption of digital technology," noting that "some show reluctance to use electronic payment technology, in addition to the difficulties faced by technological service providers in displaying stable products." And effective.”

The government advisor stressed, “According to the vision of the government program, there has become a need to make concerted efforts more urgent than ever before. What is necessary is to follow a strategic approach that takes a comprehensive view of the system and sustainable profitability while imagining the appropriate roles for all stakeholders, and this is what we are working on at the present time.” From the Iraqi Payments Council in the Central Bank of Iraq and the electronic payment systems development team in the Prime Minister’s Office.”

In turn, the Governor of the Central Bank, Ali Al-Alaq, stressed that “the shift from a cash economy to a digital economy is considered a major task in a country that has lag behind in keeping pace with developments in the field of financial technologies.”

He added, “The world is undergoing very rapid changes, and the financial and banking sector is keeping pace and following these developments and is trying to invest in them more than the rest of the other sectors,” indicating that “the financial and banking sector is based on speed, accuracy, and costs, and financial purification is what can provide the financial sector with these.” Advantages.

He continued to say, “We are now embarking on a large program and a broad and comprehensive strategy, with direct coordination and support from Prime Minister Mohamed Shiaa Al-Sudani, who accompanies this aspect with us in continuous meetings,” adding that “the Visa Direct tool came at its right time, and we need more tools that facilitate operations.” Transfer, especially simple transfers at the citizen level or transfers that relate to some simple aspects.”

He explained, “This tool facilitates the demand for foreign currencies, and we are trying to expand access to these currencies in easy ways, and this tool will provide that,” stressing that “the issue of foreign transfers, selling the dollar, and the exchange rate are fundamentally linked to employing as many electronic tools as possible.”

She added, "Our presence in Iraq is based on important foundations, which are the Iraqi youth and the government that has the courage to turn the scales and go back to building the digital infrastructure, which will allow the development of the country and the important financial and banking field of the Iraqi economy." She also appreciated the Iraqi government's cooperation and support for the presence of Visa and the expansion of its work in Iraq./End 5    link

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CandyKisses:  World Bank warns of oil prices rising above $150

Economy News _ Baghdad   2023/10/31 - 10:44 AM

The World Bank fears that global oil prices will ignite if the conflict in the Middle East expands, with Israel insisting on launching more attacks on the Gaza Strip and failing to respond to UN calls for a ceasefire and appeals by international humanitarian and human rights institutions to stop the 23-day war.
The report warned of the danger of the escalation of the recent conflict in the Middle East and its potential effects on the global economy, energy prices and commodities.

The World Bank's Commodity Markets Outlook charted three possible scenarios in which oil prices will rise to varying degrees depending on the degree of escalation of the conflict and its effects on regional and global oil supplies, according to the Energy Research Unit.

Although the global economy is much better off than it was in the seventies of the 20th century, enabling it to cope with a major shock in crude prices, the conflict in the Middle East and Israel's continued attacks on the Gaza Strip, as well as the turmoil caused by the Russian invasion of Ukraine, could push global commodity markets into uncertainty.

Short-term
oil price outlook The impact of the conflict on global commodity markets has so far been limited, with oil prices rising by 6 percent since the start of the Gaza war on 7 October 2023, while prices for agricultural commodities and most metals and other commodities have not had a clear impact.

The World Bank report prepared a preliminary assessment of the potential short-term repercussions of the conflict in the Middle East on commodity markets.
The World Bank's baseline forecasts that average oil prices will rise to $90 per barrel in the current quarter of 2023, before falling to $81 in 2024, as global economic growth slows.

Commodity prices are expected to fall by 4.1 percent next year, accompanied by lower agricultural commodity prices as supplies increase, and metal prices falling by 5 percent, before stabilizing in 2025.

3 scenarios for oil prices The World Bank expects commodity prices to be affected quickly in the event of an escalation of the conflict in the Middle East, which threatens the price of oil with varying rises, according to 3 possible scenarios for the interruption of oil
supplies based on previous historical experiences that the world has gone through since the seventies of the last century.

The effects of each scenario depend on the degree of oil supply shortages or disruptions and the subsequent effects on crude prices, as global oil supplies are expected to fall in the "limited disruption or disruption" scenario, to between 500,2011 and <> million barrels per day, equivalent to the decline witnessed globally during the Libyan civil war in <>.

Based on this scenario, oil prices could rise between 3% and 13% to range from $93 to $102 per barrel, compared to the current quarter's average price near $87 per barrel.

In a "moderate turbulence" scenario, global oil supplies could shrink by 3 million to 5 million barrels per day, equivalent to the magnitude of the decline during the 2003 U.S. invasion of Iraq.

If this scenario were to occur, global oil prices would rise between 21% and 35%, ranging from $109 to $121 per barrel, according to detailed estimates by the Energy Research Unit from the World Bank report.

The most dangerous and final scenario remains the "Great Turmoil", the potential impact of which may be equivalent to that of the Arab oil embargo during the October 1973 war between Egypt, Syria and Israel.

This scenario predicts a sharp decline in global oil supplies between 6 million and 8 million barrels per day, which could lead to a rise in oil prices between 56% and 75%, to range between $ 140 and $ 157 per barrel

Mot:  When it's all just too exciting.

Mot:  Warning!!! --- Warning!!! --- Warning!!! --- and then the Music Starts!!!

Oct 30 MilitiaMan and Crew YouTube Video

Oct 30 MilitiaMan and Crew YouTube

Oct 30, 2023

The Crew:  Samson, PompeyPeter, Petra, Angel1,  Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news

…..https://www.youtube.com/watch?v=gCZz7SozB8k

Iraq Economic News Highlights and Points to Ponder Tuesday AM 10-31-23

Iraq Economic News Highlights and Points to Ponder Tuesday AM 10-31-23

Iraq And Iran Are Discussing Using Their Currencies In Trade And Financial Transfers

Time: 10/31/2023  Read: 650 times   {Politics: Al-Furat News} Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani received the Minister of Industry, Mines and Trade of the Islamic Republic of Iran, Abbas Aliabadi, and discussed economic relations between the two countries, and ways to enhance them and strengthen exchange and partnership at various levels and fields.

Payne stated to the Prime Minister's Office, a copy of which {Al-Furat News} received, that Al-Sudani indicated during the meeting "Iraq's readiness to open horizons for bilateral cooperation in the field of petrochemical and fertilizer industries, because of their strong impact in promoting internal development."

For his part, the Iranian Minister conveyed the greetings of the President of the Islamic Republic of Iran, Ebrahim Raisi, and his emphasis on the necessity of proceeding with fruitful economic integration projects, in the face of the economic challenges witnessed by the region and the world.

The meeting also witnessed discussion of the possibility of moving towards using the national currencies of the two countries in trade exchange and bilateral financial transfers, in order to have more flexibility in dealing, for the benefit of the two countries.    LINK

The Rise In Dollar Prices In Baghdad And Kurdistan

2023-10-31 Shafaq News/ The exchange rates of the US dollar rose against the Iraqi dinar in the markets of the capital, Baghdad, and in Erbil, the capital of the Kurdistan Region, today, Tuesday.

Shafaq News Agency correspondent said that dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges this morning, recording 161,800 dinars, while yesterday, Monday, prices were 161,550 dinars for every 100 dollars.

Our correspondent indicated that selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 162,750 dinars, while the purchasing price reached 160,750 dinars for every 100 dollars.

As for Erbil, the dollar also recorded an increase, as the exchange rate in banking shops for sale reached 161,700 dinars, and the purchase price was 161,600 dinars for every 100 dollars.   LINK

The Judiciary Announces The Return Of 113 Billion Dinars To The Retirement Authority’s Account

Economy | 06:40 - 10/30/2023   Mawazine News – Baghdad  The Supreme Judicial Council announced, today, Monday, the return of 113 billion dinars to the account of the National Retirement Authority.

The media center of the Supreme Judicial Council stated in a statement received by Mawazine News, that “the Baghdad Al-Karkh Court of Appeals/the Second Al-Karkh Investigation Court specialized in integrity cases returned an amount of (113,646,564,853,300) one hundred and thirteen billion six hundred and forty-six million five hundred and sixty-four thousand eight hundred and fifty-three dinars.” In Iraq, it was returned to the account of the National Retirement Authority.

The center explained, “The amount was returned to the account of the National Retirement Authority/State Employees Retirement Fund from one of the electronic payment companies for the amounts accumulated in the trial balance arising from the retirement investment portfolio payments due to the National Retirement Authority.”   https://www.mawazin.net/Details.aspx?jimare=237075

The Iraqi market trades shares worth more than 26 billion dinars within a month

Economy  2023-10-31 Shafaq News/ The Iraq Stock Exchange announced, on Tuesday, that it traded more than 21 billion shares with a financial value exceeding 26 billion dinars during the 22 sessions it organized this October, which is nearing its end.

According to the indicators achieved during this month, the number of shares traded was (21,477,379,061) shares, through the trading of shares of (64) companies, indicating that the value of these shares amounted to (26,113,326,640) dinars.

The number of executed contracts reached (12,982) contracts, while the ISX60 traded stock price index closed in the last trading session at (808.55) points.

As for the indicators achieved for the current year until October 31, the number of shares reached more than 515 billion shares with a financial value of more than 495 billion dinars.  LINK

Integrity: Stopping The Waste Of (10) Billion Dinars In The Contract To Rehabilitate The Great Mosque Of Nineveh

Information/Baghdad..The Federal Integrity Commission announced today, Tuesday, stopping the waste of more than 10 billion dinars that were intended to be spent in violation of the law in Nineveh Governorate.

The authority stated in a statement received by Al-Maalouma, that “the investigative committee formed to investigate the violations committed in Contract No. (60 of 2013) concluded between the Sunni Endowment Office and one of the Japanese companies to rehabilitate the Great Mosque of Nineveh in the amount of 66 billion dinars, was able, through investigation, investigation and audit procedures, to obtain A judicial decision to stop the disbursement of an amount of (ten billion, two hundred and fifty-nine million dinars, which was almost spent illegally.)

She  added, “The committee’s procedures to investigate the administrative and financial irregularities, breaches, and overstatements that marred the contract,” pointing out that “the implementing company was found to be not registered with the Registration Department.” Companies in the Ministry of Commerce, and they have no branch or representation in Iraq.”

She pointed out, “The amount that a judicial decision was issued by the Second Karkh Investigation Court to stop disbursing until the completion of audit and investigation procedures arises from two spare orders, the first of which is for mechanical works, amounting to (3,426,580,000) three One billion four hundred and twenty-six million dinars, while the second spare order for electrical works was for (1,243,270,000) one billion two hundred and forty-three million dinars, in addition to an advance in the amount of (5,590,063,940) five billion five hundred and ninety million dinars. Ended/25   LINK

https://media.almaalomah.me/archive/image/2023/10/31/63f92391-bec0-4a27-aa2b-881d6e044969.png

Framework: The Region May Witness War Due To The Continuation Of Zionist Massacres

Information / Baghdad... The representative of the coordination framework, Thaer Al-Jubouri, confirmed on Tuesday that the region may witness a war between Muslims and enemies of Islam due to continuing tensions as a result of the ongoing Zionist massacres against the Palestinian people.

Al-Jubouri told Al-Ma'louma, "The region is about to witness more surprises in light of the continuing Zionist attacks on the Palestinian people and the massacres it is committing in the Gaza Strip."

He added, "Many fronts may open in the region after the great reactions from various countries of the world that rejected what the Zionist occupation is doing against the Palestinian people, one of which is the North Korean position and the countries of the region that support the rights of the Palestinians."

He stated that "the events and massacres taking place against the Palestinian people may drag the region, for the first time, towards war between Muslims and enemies of the Islamic religion."

Al-Jubouri pointed out, "This matter will change the geopolitical map in the region, and effective political leaders may emerge in the region to bring about this change." Ended 25 n   LINK

 “Gaza War” And The Iraqi Market... An International Economist Points Out 4 Factors

Economy | Baghdad today - Diyala   Today, Tuesday (October 31, 2023), Professor of International Economics at Diyala University, Mahdi Saleh, pointed out four factors affecting Iraqi markets due to the “Gaza War.”

Saleh said in an interview with “Baghdad Today” that “the war on Gaza could affect Iraqi markets directly if it spreads and turns into a regional or international war or strikes the production chains of Iraq’s neighboring countries” - referring to Turkey and Iran, which constitute the largest percentage of Market imports - or it caused the paralysis of the Suez Canal, which is the artery of global trade.”

https://baghdadtoday.news/uploads/posts/2023-10/160929.jpg

Impact of the Gaza War

Saleh added, "But so far the impact of the war in Gaza has not been reflected on Iraqi markets, especially since it did not pose any threat to the production chains in the countries neighboring Palestine or the transport corridors, including the Suez Canal, in addition to it did not affect the economic situation in Iran and Turkey, which are the two most important partners." "For Iraq."

He continued, "The impact of Tehran and Turkey on the war in Gaza will affect the average prices in Iraqi markets due to the high volume of imports," noting that "there are fears of prolonging the duration of the war and perhaps turning it into a regional war, so the impact on Iraqi markets will be very natural."

High Anxiety Level

The professor of international economics pointed out that “the current tensions, although complex, have not affected the compass of public opinion, pushing it to a high level of anxiety, which in turn pushes them to make high purchases in anticipation of any crisis,” noting that “any security event could constitute the starting point for a state of anxiety.” It leads to a crisis, especially since America is involved in the Palestinian situation by supporting the Zionist entity.”

For its part, the World Bank warned on Tuesday that the escalation of the war in Gaza may result in severe damage to the global economy, which is already suffering from a bad situation, and specifically pointed to direct effects on basic commodities, especially oil and food, drawing 3 expected scenarios according to the development of events.

The World Bank's chief economist, Indermeet Gill, said in a report that the conflict between Israel and Hamas comes as the Russian-Ukrainian war puts pressure on the markets, which caused "the largest shock to commodity markets since the 1970s, and this had repercussions that caused turmoil for the global economy." It still exists today."

"Decision makers must be vigilant," Gale noted. "If the conflict escalates, the global economy will face a dual energy shock for the first time in decades," from the war in Ukraine and the conflict in the Middle East.

The World Bank stated that potential inflation will depend on what happens to global oil prices and exports, and under an optimistic scenario, oil could rise by between 3 and 13 percent, or between $93 and $102 per barrel. According to an average scenario, prices could rise to $121, while according to the worst scenario, oil will reach a peak between $140 and $157, exceeding prices unprecedented since 2008.   LINK

Provoking Points to Ponder on Character:

A good character is, in all cases, the fruit of personal exertion -- it is not inherited from parents; it is not created by external advantages; it is no necessary appendage of birth, wealth, talents, or station; but it is the result of one's own endeavors -- the fruit and reward of good principles manifested in a course of virtuous and honorable action -- J Hawes

 A man's character is the reality of himself -- His reputation is the opinion others have formed of him -- character is in him; reputation is from other people -- that is the substance, this is the shadow -- H W Beecher

There is a broad distinction between character and reputation, for one may be destroyed by slander, while the other can never be harmed save by it possessor -- Reputation is in no man's keeping -- You and I cannot determine what other men shall think and say about  us -- We can only determine what they ought to think of  us and say about us -- J G Holland

Character building begins in our infancy and continues until  death --Mrs Franklin D Roosevelt

A tree will not only lie as it falls, but it will fall as it leans -- J J Gurney

Goldilocks' Comments and Global Economic News Monday Evening 10-30-23

Goldilocks' Comments and Global Economic News Monday Evening 10-30-23

Good evening Dinar Recaps,

"The commercial banks are under heavy pressure in terms of liquidity or money management. To deal with this pressure, on one hand, various banks are borrowing from the central bank at high-interest rates under special liquidity support. On the other hand, short-term loans are taken from call money market or from other banks."

Let's take a close look at what this is telling us. Remember, on July the 1st, 2023, Banks all over the world and companies went to SOFR lending rates. In other words, banks are borrowing money from Central Banks that hold our gold and the opportunity to provide long-term loans "liquidity" to our banks under new SOFR settings. And, short-term bank loans are being borrowed from other banks.

Banks get the opportunity to make money off of each other, and the Central Bank gets the opportunity to make money off other banks through borrowing at discounted rates while paying at a higher interest rate that is still less than what you and I pay.

Do you see the new standard protocols in here developing and actually being utilized to test their ability to work going further? We talked about them being in a testing phase to determine ratios between banks and the Central Bank earlier this year.

On January the 16th of 2024, final rules will be put into play with a final rule. There is a chance that it could go into play earlier, but we will have to see. This is the date we have been given so far.

Gold is currently being tested as a standard for banking protocols. In the middle of January 2024, gold will become a standard protocol for lending.

The new liquidity.

© Goldilocks

https://dailyindustry.news/banks-under-heavy-liquidity-pressure/

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👆23 US states move to reclaim gold and silver as legal tender
https://www.investorsobserver.com/news/qm-news/5538391749687833👆

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JPMorgan Chase Processing $1,000,000,000 in JPM Coin Transactions Daily, Says the Bank’s Global Payments Head

The Daily Hodl Link

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New Partnership Makes XRP and Shiba Inu (SHIB) Purchase Seamless Across the World

Times Tabloid Link

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'Cryptocurrency Is Being Used To Finance Terrorism': Cynthia Lummis Urges Crypto Regulations

https://youtu.be/Z-HOxqQuU6E?feature=shared

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This week,

The digital yuan was used for the FIRST TIME in an oil transaction.

This is a very significant milestone.

In December, the Chinese President proposed that Gulf nations utilize the Shanghai Petroleum and Natural Gas Exchange for energy transactions.

In 2022, the seven Persian Gulf countries accounted for approximately 32% of global crude oil production and possessed around 49% of the world's proven crude oil reserves as of the beginning of 2021.

Remember this as digital currencies increasingly become more relevant in the global monetary system.

Look out for a detailed article on this topic in the days ahead.

Read: https://x.com/goldtelegraph_/status/1718762766109168090?s=46

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New Study Reveals American's Sentiment on the Crypto Industry
CryptoPotato Link

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BRICS: Saudi Arabia Lines Up New Trade Deals Beyond Oil

https://watcher.guru/news/brics-saudi-arabia-lines-up-new-trade-deals-beyond-oil

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Consumer Sentiment Falls on Inflation Concerns as Holidays Near

WWD Link

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FOMC Meeting: Will Bitcoin Price Continue Recovery Post Powell Speech?
https://coingape.com/us-feds-fomc-meet-how-would-btc-price-react-to-powell-speech/

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The Treasury has opted to extend the comment period for its proposed new rules on crypto reporting requirements by two weeks. Interested parties now have until mid-November to share their thoughts with the tax regulator. 

The Treasury and Internal Revenue Service pushed back the comment deadline in response to the “strong public interest” the rule has received since first proposed in August, according to a Federal Register document scheduled to be published on Oct. 25. 

The proposed rule, published in late August 2023, suggests defining digital asset “brokers” as “trading platforms, digital asset payment processors, certain digital asset hosted wallet providers and persons who regularly offer to redeem digital assets that were created or issued by that person.” 

https://www.blockworks.co/news/irs-treasury-crypto-reporting-requirements

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Powell’s Gonna Have a Cow When He Sees the PCE Inflation in “Core Services,” Housing, and Non-Housing Core Services

Wolf Street Link
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The Following Are Banks To Close In The State Of Texas Permanently -

Wells Fargo 11152 S. Gessner Drive, Houston

Bank of America 2601 Preston Road, Frisco; 13350 Dallas Pkwy, Dallas

Capital One 2301 E. Riverside Drive, Austin; 2910 S. Lakeline Blvd., Cedar Park

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US Central Bank Eyeing Digital Dollar to Counter BRICS Pay
https://watcher.guru/news/us-central-bank-eyeing-digital-dollar-to-counter-brics-pay

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The World Bank is warning that oil prices could be pushed into uncharted waters if the conflict in the Middle East escalates.

The World Bank just said the quiet part out loud.

Inflation always starts with energy.

Read: https://x.com/goldtelegraph_/status/1719096485776859145?s=46

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JUST IN: US Treasury to borrow $776 billion in the final three months of 2023.

@WatcherGuru

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Iraq Economic News and Points to Ponder Monday Evening 10-30-23

Iraq Economic News and Points to Ponder Monday Evening 10-30-23

Tlm724 Administrator Bondlady’s Corner

Al-Shammari: There Are No Sanctions From The US Treasury Department On Iraq

Advisor to the Prime Minister, Fadi Al-Shammari, denied the existence of sanctions from the US Treasury Department on Iraq due to smuggling the dollar abroad. Al- Shammari said in a press statement, “In the past, we stood in amazement at the money laundering operations in the currency auction, and the cries were rising from all political, social, and popular classes because it was a drain on the economy.” “There were major money laundering operations that benefited countries, organizations, and corrupt people,” he said.

He added, "The launch of the platform is Iraq's entry into the international financial and economic system. There are no sanctions imposed on Iraq by the US Treasury, but sometimes there is a tightening of standards to deliver potential political messages."

He continued, "The security services are on alert to pursue dollar speculators," stressing that "basic foodstuffs were not affected by the price of the dollar."

https://www.radionawa.com/all-detail.aspx?jimare=36120

Member Of Parliamentary Finance: Great Reluctance In Budget Decisions And Agreements On The Part Of The Region

Time: 10/30/2023 12:28:07 Read: 1,339 times   {Economic: Al-Furat News} The Parliamentary Finance Committee clarified, today, Monday, that budget decisions and political agreements are witnessing great reluctance on the part of the Kurdistan region.

Ali Mu'nis, a member of the Parliamentary Finance Committee, told Al-Furat News Agency: “With regard to the delay in releasing financial amounts to the Kurdistan region, because the money file between the governments of the center and the region often arises after approving the budget, there is a dispute regarding the financing of the region’s salaries by the central government.”

He added: "There are obligations under budget decisions and political agreements, as some of these obligations are fulfilled by the regional government towards the central government in terms of oil export dues and the fulfillment of these obligations, which is witnessing great reluctance on the part of the region."   LINK

The Dollar Rises Against The Iraqi Dinar In Baghdad Markets

Time: 10/30/2023 11:24:25 Read: 1,924 times   {Economic: Al-Furat News} The exchange rates of the US dollar against the Iraqi dinar rose, today, Monday, in Baghdad markets.  The prices were as follows.. 

The selling price was 162,500 dinars, while the purchase price was 160,500 dinars per 100 dollars. LINK

The World Bank Warns Of A "Price Shock" For Oil And Agriculture Due To The Gaza War

Monday 30, October 2023 17:44 | Economical Number of readings: 199  Baghdad / NINA / The World Bank warned, on Monday, that the war on Gaza may lead to a shock in the prices of raw materials such as oil and agricultural products if the conflict escalates and expands in the Middle East.

The World Bank's chief economist, Indermeet Gill, said in a statement, "The war between Israel and Hamas caused the largest shock to commodity markets since the 1970s."

He added, "This had repercussions that caused turmoil in the global economy that continues to this day."

He pointed out that "decision makers must be vigilant. If the conflict escalates, the global economy will face a double energy shock for the first time in decades" from the war in Ukraine and the conflict in the Middle East.

The World Bank stated that the potential price hike will depend on what happens to global oil prices and exports.

Under an optimistic scenario, oil could rise by between 3 and 13%, or between $93 and $102 per barrel.

According to an average scenario, prices could rise to $121, while according to the worst scenario, oil will reach a peak between $140 and $157, exceeding prices unprecedented since 2008./End 8

https://ninanews.com/Website/News/Details?key=1086930

Oil Prices Fell By More Than 1% In Global Markets

Monday 30, October 2023 09:02 | Economical Number of readings: 453  Baghdad / NINA / Oil prices fell more than one percent today, Monday, as investors remained cautious ahead of the Federal Reserve meeting and manufacturing data in China scheduled for release this week, dissipating support resulting from tension in the Middle East.

By dawn today, according to Reuters, Brent crude futures fell 1.6%, or $1.11, to $89.37 a barrel, while US West Texas Intermediate crude fell 1.2%, or $1.34, to $84.20 a barrel.

Brent crude and West Texas Intermediate crude closed higher on Friday by 3% after Israel intensified its ground incursions into the Gaza Strip, which raised fears of a possible expansion of the scope of the conflict in the region that produces a third of global oil production.

Investors are awaiting the outcome of the US Federal Reserve meeting next Wednesday, US job data, and the profits of the giant technology company Apple (AAPL.O), in search of signs of any economic slowdown that may affect demand for fuel in the largest oil consumer in the world./ End

https://ninanews.com/Website/News/Details?key=1086804

Planning Begins With A Participatory Ecosystem Assessment In The Southern Marshes

Economy News _ Baghdad  Today, Monday, the Ministry of Planning announced that the Central Bureau of Statistics, in cooperation with the United Nations Development Programme, will implement a field survey to study and evaluate the participatory ecosystem in the marshes of southern Iraq.

The Ministry’s official spokesman, Abdul Zahra Al-Hindawi, said in a statement received by “Al-Iqtisad News” that “the survey being carried out in the governorates of Dhi Qar, Maysan, and Basra comes within the objectives of the Central Bureau of Statistics to know the current reality of the marshland environment and the outcome of the conditions of the families living there, as a result of the decline of water at the time.” the present".

Al-Hindawi added, “The survey aims to collect recent data related to the social, economic, environmental, and agricultural aspects of the ecosystem of the marsh residents and provide data that contributes to increasing the ability of the marsh residents to confront the negative effects of climate change and empower them and its realistic impact on buffalo breeding, fishing, and birds, in addition to studying industries and handicrafts.”

 Which is practiced by the residents of the marsh community and knowledge of the factors that help make the marshes attractive places for tourism and preserve their natural landscapes.”

Views 52 10/30/2023 - https://economy-news.net/content.php?id=37154

 Including Oil And Gas... Political Differences Hinder The Enactment Of These Laws

Political | 04:32 - 10/30/2023  Mawazine News – Baghdad  Member of the Iraqi Parliament, Samia Al-Ghalab, confirmed today, Monday, that the House of Representatives did not approve controversial draft laws for several reasons, noting that political differences are what delays their approval.

Al-Ghalab said in an interview followed by Mawazine News, “There is a group of laws that should be legislated within Parliament,” noting that “most of the laws are suspended due to political differences.”

She added, "The political agreement within the state administration coalition stipulated the passage of controversial laws within six months of the formation of the Sudanese government."

Al-Ghallab pointed out that “there are important laws that have not seen the light of day since several previous parliamentary sessions.”   https://www.mawazin.net/Details.aspx?jimare=237065  

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

https://www.bondladyscorner.com/

Provoking Points to Ponder on Common Sense:

Common Sense is, of all kinds, the most uncommon -- It implies good judgment, sound discretion, and true and practical wisdom applied to common life -- Tryon Edwards

One pound of learning requires ten pounds of common sense to apply it -- Persian Proverb

Fine sense, and exalted sense, are not half as useful as common sense -- there are forty men of wit to  one man of sense -- He that will carry nothing about him but gold, will be every day at a loss for readier change -- Pope

To act with common sense according to the moment, is the best wisdom I know ; and the best philosophy is to do one's duties, take the world as it comes, submit respectfully to one's lot; bless the goodness that has given us so much happiness with it, whatever it is; and despise affectation -- Walpole

Iraq Economic News and Points to Ponder Monday Afternoon 10-30-23

Iraq Economic News and Points to Ponder Monday Afternoon 10-30-23

Tlm724 Administrator Bondlady’s Corner

Al-Awadi: The Government May Have To Sell The Dollar Directly If The Crisis Continues

 10/29/2023  888 views   The Iraqi government spokesman, Bassem Al-Awadi, revealed today, Sunday, what the government of Muhammad Shiaa Al-Sudani achieved during the first year of its life,

pointing out that the latter placed a set of political norms in the government program, while stressing that the government may be forced to sell the dollar directly if the crisis continues.. Al-Awadifi said in a televised interview,

  “The result is optimistic in the first year of the government’s life and we seek to provide the best,” noting, “Al-Sudani established a set of political norms within his government program that were based on the basics of addressing poverty, unemployment, employment, and services,” explaining that “Al-Sudani established executive oversight.”

On the decisions and orders issued, a semi-annual report was also prepared to evaluate the government’s performance, and this is something that did not exist previously.” He added, "The government achieved more than 35% of the government program in its first year."

He stated that during the first year, the total amount of funds to be preserved from waste reached one billion dollars, and more than one hundred million were recovered, while the number of reports reached 30,000, 8,690 people were brought in for investigation, 3,015 arrest warrants were issued, in addition to the arrest of 1,300 people, and the recovery files amounted to Fugitives 70 files.

 Al-Awadi touched on the dollar crisis, stressing that this crisis is major and affected the rise in the prices of cars, real estate, and construction materials,

 but the government was able to maintain food prices, and this is most important.

 He explained that trade with China will be opened in yen value, and our trade with Iran and the UAE will be in tomans and dirhams.

He pointed out,  "The government may have to sell the dollar directly if the crisis continues and through government exchanges," noting at the same time that "inflation in Iraq decreased by 4%."

Regarding Al-Sudani’s speech during the Cairo summit and the rumors about Washington’s anger, the government spokesman stressed that “Iraq is a sovereign country and has a decision, and in his speech he expressed the position of Iraq and its people, and we do not care who accepts or is upset.”

Ali stressed,  "We did not receive threats regarding Al-Sudani's speech," adding that  "protecting missions is the government's responsibility and it must carry it out properly."

https://www.nrttv.com/ar/detail3/16777

The Central Bank Announces The Imposition Of A Fine Of More Than 100 Billion On Exchange Companies

 Economy ,  10/29/2023  Number of readings : 225  Baghdad - Iraq today:   The Central Bank of Iraq announced on Sunday that fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 104 billion Iraqi dinars during the past nine months.

 A table of the bank showed that the fines imposed on banks and financial companies during the past nine months, starting from January and until September, amounted to 104 billion and 769 million and 332 thousand and 606 dinars, indicating that

“the fines also included 348 administrative penalties for these banks and non-banking institutions, distributed among Between warning, warning, and grace period.”

 The table showed that “the month of April witnessed the highest fines for banks and non-financial institutions, as these fines reached 17 billion and 440 million and 383 thousand and 447 dinars, with administrative penalties amounting to 17 penalties, while the month of June witnessed the lowest fines, which amounted to 8 billion and 353 million, 387 thousand and 476 dinars with administrative penalties amounting to 50 penalties.”

 The table did not show the names of the banks on which fines and administrative penalties were imposed.

The  Investors Association in the Iraq Stock Exchange had criticized, in early last June, the Central Bank of Iraq’s increase in fines on banks. Pointing out that it will affect the profitability of investors in the shares of these banks.   https://iraqtoday.com/news/76926/البنك-المركزي-يعلن-عن-فرض-غرامة-اكثر-من100-مليار-على-شركات-الصرافة

With A Rate Starting From 25%...The Money Recovery Fund Promises Its Violators Who Cooperate With It To Exempt Them With A Percentage Of The Refunds

 29/10/2023  572 views The Parliamentary Integrity Committee confirmed today, Sunday, that the operations to recover smuggled funds are not at the required level, while it sent an invitation to the competent government agencies.

Committee member Jamil Al-Hadidi added,  “There has been a government movement during the recent period to recover smuggled funds, and the government was able to return a small portion of that money, and  therefore the operations to recover smuggled funds are not at the required level.”

He explained that "the volume of funds smuggled from corruption and other operations is very large, and  there is no accurate statistics for the size of all these amounts, and comparing the funds that were recovered with the amount of corruption shows that it is very small, and therefore the relevant government agencies must intensify their efforts in order to return these funds." Announcing accurate statistics on the amount of money smuggled from Iraq.”

 The Iraqi government is seeking to recover the file of funds smuggled abroad, based on a reward announced last year, which is a method that was not used by previous governments, with the hope that it will reach the hundreds of billions that were stolen from official departments and institutions, and what was covered under the titles of projects, investments and deals,

 Not to mention the embezzlement of funds allocated to feed the ministries since 2003, which parliamentary committees and observers estimated at about $450 billion.

 The "Iraq Assets Recovery Fund", an official body, called on all citizens, whether inside Iraq or residing outside it, to cooperate in order to recover Iraq's money and return it to the state treasury.

 A statement from the Fund stated that

 it “promises its violators to cooperate with it to exempt them from the amounts owed by them at a rate of (25%), up to a maximum of $5 million of the recovered money,” indicating that

 “the Fund’s Board of Directors grants a reward to the informant at a rate of (10%), provided that it does not exceed $5. Millions of dollars in money recovered, and

 in the event of multiple informants, rewards will be distributed in specific proportions to each of them, and according to the role of each of them in recovering the money.”

https://www/nrttv.com/ar/detail3/16763

“Banks Are Neglected” By The Responsible Authorities.. The Financial Sector In Iraq Is Entering A Stage Of “Idle And Failure”

 Economy |  Baghdad today – Baghdad   The financial and banking sector in Iraq needs financial and administrative reforms to advance it after it entered a stage of “idle and failure,” according to international economics professor Nawar Al-Saadi.

 Al-Saadi said, today, Thursday (October 26, 2023), that  “Iraqi banks are witnessing negligence from the responsible authorities, and have entered a stage of inactivity and failure,

 which has made them lag behind significantly compared to other global banks or even neighboring countries that are witnessing sustainable developments,” noting that

“This negligence and delay causes the use of modern technologies in daily dealings and banking transactions.”

 Al-Saadi explained in an interview with “Baghdad Today” that  “the main reason for the citizen’s avoidance of dealing with these banks is due to his loss of confidence in them,

 which led to the accumulation of funds and deposits with capital owners instead of depositing them in banks, in addition to increasing interference and negative political influence.” on the performance of these banks.

Transparency And Anti-Corruption

 He pointed out "the need for radical financial and administrative reforms for the financial and banking sectors, such as enhancing transparency and combating corruption," noting that

"transparency in the operations of the financial and banking sector and

 combating corruption must be enhanced through the application of strict laws and effective supervisory mechanisms." 

Al-Saadi also stressed "the necessity of improving infrastructure, as  banks and financial institutions need to improve their infrastructure and adopt modern information technology to provide better and safer services, as well as develop policies and regulations to enhance stability and economic growth."  He pointed out that "the  most important thing is to strengthen small and medium-sized finance by supporting loans and financing for small and medium-sized companies, which in turn encourages the growth of the economy.

In addition to everything mentioned, we also need to  train and develop human resources, as investment must be made in training and developing professionals in the banking and financial sector to ensure the provision of Services are of high quality.”

Financial And Administrative Reforms

The professor of international economics stressed that  “financial and administrative reforms must usually be implemented in cooperation between the government, parliament and the judiciary, as they are a complete system,”

 noting that  “the government plays an important role in providing the necessary policies and procedures to achieve reforms, and

Parliament plays an important legislative role in passing the financial and banking laws and regulations necessary to implement them.”

Reforms.

In addition, the judiciary can be effective in monitoring the implementation of these reforms and holding those responsible accountable for any violations, especially cases of financial corruption that destroyed everything in Iraq.”  He concluded his speech by saying,

 "Therefore, the cooperation of the authorities helps in achieving

 success in implementing financial and administrative reforms,

ensuring their sustainability, and

avoiding the collapse of the financial and banking sectors."

On (August 3, 2023), Prime Minister Muhammad Shiaa Al-Sudani directed all concerned institutions to adhere to working in accordance with what was stated in the Central Bank of Iraq Law No. 56 of 2004.

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

 The Sudanese Media Office stated in a statement, “In confirmation of the government’s approach to continuing reform of the financial and banking sector, and

to complement the efforts made by the regulatory agencies and financial institutions concerned with controlling transparency and integrity in this vital sector, the

 Prime Minister directed all concerned institutions to adhere to working on... According to what was stated in the Central Bank of Iraq Law No. 56 of 2004.” 

He stressed,  "The above-mentioned law shows that the Central Bank of Iraq is the only body that has the authority to take all measures to regulate and monitor the work of banks and non-banking financial institutions to ensure their compliance."    

https://baghdadtoday.news/234133-المصارف-مُهملة-من-الجهات-المسؤولة.-القطاع-المالي-في-العراق-يدخل-مرحلة-الخمول-والفشل.html

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

https://www.bondladyscorner.com/

Provoking Points to Ponder on WORDS:

Such as thy words are - such will thy affections be esteemed -- and such will thy deeds be as thy affections - and such thy life as they deeds -- Socrates

A good word is an easy obligation -- but not to speak ill requires only our silence - which costs us nothing -- Tillotson

Discontent is the first step in progress. No one knows what is in him till he tries, and many would never try if they were not forced to.  - Basil W. Maturin

It is the spur of ignorance, the consciousness of not understanding, and the curiosity about that which lies beyond that are essential to our progress.  - John Pierce

Some people change their ways when they see the light, others when they feel the heat. -Caroline Schoeder

It is unwise to be too sure of one's own wisdom -- It is healthy to be reminded that the strongest might weaken and the wisest might err - Mahatma Gandhi

We can do whatever we wish to do provided our wish is strong enough. What do you want most to do? That's what I have to keep asking myself, in the face of difficulties. - Katherine Mansfield

Where the willingness is great, the difficulties cannot be great.  - Niccolo Machiavelli

"Tidbits From TNT" Monday 10-30-2023

TNT:

Tishwash:  Newspapers follow the advantages of Iraq's joining the BRICS group and the problems of the Iraqi banking system

 Newspapers published in Baghdad today, Monday, October 30, followed the economic advantages of Iraq’s accession to the BRICS group, the problems of the Iraqi banking system... and other issues.

Regarding the advantages of joining the BRICS group, Al-Sabah newspaper, published by the Iraqi Media Network, quoted the Prime Minister’s Advisor for Financial and Economic Affairs,

Dr. Mazhar Muhammad Salih: “The BRICS group was initially formed from countries that included Brazil, Russia, India, China, and South Africa.” Africa,” indicating: There is an objective basis for Iraq’s desire to join the group represented by the Iraqi economy’s ties with the countries of the group due to its dependence on an important percentage of Iraq’s oil exports of no less than 55%, especially China and India, and that approximately 70% of Iraq’s imports are with countries. (BRICS) or those seeking to join it.”

Muhammad Saleh added: “This means that the commercial partnership and Iraq’s strong economic interests automatically push towards international economic cooperation with our trading partners, especially in the issue of looking towards broader areas in the flow of the group’s investments to our country in the context of obtaining The advantages of joining in a way that serves the future of sustainable development and economic progress in our country.”

He explained that: “According to the purchasing power parity standard; Brazil, Russia, India, and China are among the ten largest countries in the world in terms of population, area, and gross domestic product, according to the purchasing power parity standard. The last three countries (India, China, and Russia) are considered major and potential emerging powers, while all five countries in the “BRICS” group are also members of the G20, which includes the United States of America and the rest of the G7

. Jalil Al-Lami, in an interview with Al-Sabah, said: “Iraq has announced on more than one occasion its readiness to join the BRICS group, especially since the Iraqi economy is distinguished in most of its indicators by the diversity of natural, human and capital resources, but it suffers from the control of the oil sector over “Gross Domestic Product.”

He stated: “There is a great similarity between Iraq’s economic capabilities and capabilities with what the BRICS countries possess, and thus it is easy for Iraq to achieve high economic growth rates such as those achieved by those countries due to their reliance on more than one resource.” newspaper

. Al-Zawraa, which is issued by the Iraqi Journalists Syndicate, followed the issue of the problems that the Iraqi banking system suffers from, and the causes of hoarding and lack of confidence in banks. In this regard, it referred to the words of economic expert Nabil Al-Ali: “The banking system is like a young system despite this large number of banks.”

But they were banks that lived during a period of 20 years on one issue, which was the currency selling window, and they were the beneficiaries because it came through the mediation process and benefited from the price differences.”

He added: "Some banks have begun working on the issue of commercial credit and how to profit from it, even if in a limited way. It is possible that these banks will gradually develop and enter into partnerships with major banks or without correspondence and carry out banking operations that benefit the economy, the investor and the country."

Regarding the problem of hoarding, he explained: “Hoarding is a social behavior and part of our behavior because we do not deposit our money in bank accounts. The other matter is that banks do not meet all our needs, so why do we deposit our money in a bank whose branches are few and the withdrawal timings are specific,” indicating: “The banks have not reached A stage of providing services, such as electronic services and other services.

The expert continued: “There are certain periods in which confidence in the banking system weakened, especially after some of them went under guardianship, and the bankruptcy of others during the period from approximately 2014 to 2016, and there were some that were unable to return depositors’ money.” In another matter, Al-Zaman newspaper followed the issue of climate change and trends

Towards a sustainable green economy.

The Minister of Environment, Nizar Amidi, was quoted as saying: “The Ministry is leading the issue of the green economy and Iraq’s openness to investment in this aspect, with a value of up to 100 billion dollars until the years 2030 and 2035, and allocating some of the necessary budgets in the national budget to support this purposeful trend.” To improve the environment in Iraq, and encourage the adoption of a project to start and stimulate comprehensive environmental improvement and the green economy in the country.”

While the ministry’s spokesman, Amir Ali Al-Hassoun, said, according to Al-Zaman: “Article 35 of the Environmental Protection and Improvement Law No. 27 of 2009, It is linked to clauses two, three and four of Article 20 in the same law, which are concerned with the management of hazardous materials and waste and the criminalization of their possession.

He explained: “The crime of possession includes a prison sentence of three months and the imposition of a fine ranging from one million to ten million dinars, and it is doubled if it is not removed. The person concerned shall be obliged to return hazardous or radioactive materials and waste to the source for safe disposal.”

Al-Hassoun stated: “The Department of Chemical Control and Evaluation of Contaminated Sites in the Ministry completed, during the past year, a study and evaluation of more than a thousand chemicals imported into Iraq, including about 130 environmental approvals after verifying their risks and the safety of their storage.  link   

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

Tishwash:  Out of 329.. “only” 32 Iraqi parliamentarians signed the closure of the American embassy.. Documents

32 Iraqi parliamentarians, out of 329 others, submitted a request to the Presidency of Parliament to close the American embassy in Baghdad and expel Ambassador Alina Romanski.

The request, entitled (Holding a special session dedicated to the Palestinian issue), according to a document published below by Shafaq News Agency, stated, “In view of the genocide operations and the difficult humanitarian conditions that our people are experiencing in besieged Gaza due to the aggression and war officially declared by the Zionist entity and the brutal threat to displace more than a million A Palestinian citizen from northern Gaza, we submit, based on Article 28 of the bylaws of the House of Representatives, a request to hold an extraordinary, closed session devoted solely to discussing the issue of expelling the American ambassador, closing the embassy, ​​and suspending diplomatic relations with all countries that support the Zionist entity.”

On the twenty-seventh of this October, the leader of the Sadrist movement, Muqtada al-Sadr, called on the federal government and parliament to vote on a decision to close the United States Embassy in Iraq in order to “support” the Palestinians.

Al-Sadr said in a post on the “X” website, previously Twitter, “I call on (the Iraqi government) and (the Iraqi parliament) with all its groups and orientations, for the first time and for the sake of public and not private interests, to vote on closing the American embassy in Iraq because of the unlimited American support for the terrorist Zionists.” Against Gaza.”

He stressed the need to "protect its (US Embassy) diplomatic personnel, and not be exposed to them by the shameless militias that want to undermine the security and safety of Iraq," in the event of a vote on the resolution.

Al-Sadr also said, “If the government and parliament do not respond, we will have another position that we will announce later.”

The US Embassy in Baghdad announced in a statement last week the departure of non-essential employees at the embassy and the US Consulate in Erbil, due to increasing security threats. link

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

CandyKisses:  National Security: We penetrated the networks of smugglers of the dollar and arrested more than 279 defendants

 {Omnia: Euphrates News} The National Security Agency announced that it had penetrated networks of dollar smugglers in the country.

The spokesman for the agency said in a press statement that "the detachments of the agency in Baghdad and the provinces have intensified their intelligence efforts to pursue currency smugglers, and more than one method of smuggling has been identified, including: through fake passports, including some traders collecting money in hard currency and smuggling it in certain ways out of the country."

He added, "The device penetrated smugglers' networks and arrested more than (279) accused of smuggling and seized (114) million dollars, as well as (72) million were counterfeit, and a crisis cell was formed to pursue currency smugglers abroad and there are major operations that will be announced once the investigation is over."

Mot” ... Hey, the rules are the rules.

Mot:  ....... Spooky Scary Skeletons    https://www.youtube.com/watch?v=sVjk5nrb_lI

Iraq Economic News Highlights and Points to Ponder Monday AM 10-30-23

Iraq Economic News Highlights and Points to Ponder Monday AM 10-30-23

Iraq's Accession To BRICS... Impressive Economic Advantages

 The first  10/30/2023  Baghdad: Hoda Al-Azzawi  Since Prime Minister Muhammad Shiaa Al-Sudani announced at the beginning of this October Iraq’s desire to join the “BRICS” group, and analyzes by experts in financial and economic affairs confirm that Iraq’s progress towards completing joining the “BRICS” will contribute to the development of the country’s economic sectors. And to get out of the pressures of Iraq’s unilateral monetary dealings in the “dollar” area.

Advisor to the Prime Minister for Financial and Economic Affairs, Dr. Mazhar Muhammad Saleh, told Al-Sabah that “the BRICS group was initially formed from countries that included Brazil, Russia, India, China and South Africa.”

He pointed out that "there is an objective basis for Iraq's desire to join the BRICS group, which is represented by the Iraqi economy's ties with the group's countries due to its dependence on an important percentage of Iraq's oil exports of no less than 55%, especially China and India, and nearly 70% of Iraq's imports are made with... BRICS countries or those seeking to join them, and this means that the commercial partnership and Iraq’s strong economic interests automatically push towards international economic cooperation with our trading partners, especially in the issue of looking towards broader areas in the flow of the group’s investments to our country in the context of obtaining the benefits of joining in order to serve the future. Sustainable development and economic progress in our country.”

Saleh added, “According to the purchasing power parity standard, Brazil, Russia, India, and China are among the ten largest countries in the world in terms of population, area, and gross domestic product, according to the purchasing power parity standard, and the last three countries (India, China, and Russia) are considered great powers.” And potential emerging ones, while all five countries in the BRICS group are also members of the G20 (which includes the United States of America and the rest of the G7).

Some international economic analyzes have suggested that Iraq's joining the BRICS alliance and using its financial dealing system instead of the current SWIFT system will have major impacts on the global economy. "Watcher Guru" magazine, which specializes in economic affairs, stated that "the consequences of Baghdad's expected decision will push the US dollar to the brink of the abyss," stressing that "if Iraq joins BRICS, the US dollar will suffer the biggest blow in its history," according to its description. To this, the analyst pointed out the matter

. Economist Jalil Al-Lami, in an interview with Al-Sabah, noted that “Iraq has announced on more than one occasion its readiness to join the BRICS group, especially since the Iraqi economy is distinguished in most of its indicators by the diversity of natural, human and capital resources, but it suffers from the oil sector’s control over the output.”

He explained that “the economic policies adopted by Iraq represent a reason for not achieving economic growth because of their focus on the public sector as the main driver of economic growth, while the private sector has not had the opportunities to implement huge investments.” He explained that “there is a great similarity between the capabilities Iraq's economic capabilities are comparable to what the BRICS countries possess, and thus it is easy for Iraq to achieve high economic growth rates such as those achieved by those countries due to their reliance on more than one resource.

He added that "decision-makers in Iraq should seriously consider studying the possibility of Iraq joining the BRICS countries in order to benefit from the advantages of this accession in developing the economic sectors in Iraq, due to the presence of a broad similarity in Iraq's capabilities - especially the inactive ones - and the level of economic progress and the nature of the conditions for a number of members." The BRICS countries, if not Iraq, are better than them in the case of stimulating economic activities and optimally exploiting their resources.” Edited by: Muhammad Al-Ansari   https://alsabaah.iq/86370-.html

Brix  BRICS

Iraq  10/30/2023  Ahmed Abdel Hussein   A month ago, Prime Minister Muhammad Shiaa Al-Sudani announced Iraq’s desire to join the “BRICS” group.

This is news that financial and economic specialists circulated with great optimism, and they considered it a sign of the revival and revitalization of the economic sector and a way to reduce the burdens that Iraq bears as a result of its dealings with the “SWIFT” payment system. .

BRICS is an international economic organization whose first nucleus was formed in 2006 and held its first conference in 2009. It aims to develop the economies of its members by dealing in their local currencies in a way that reduces dependence on dealing in the US dollar. The organization consists of Brazil, Russia, India, China, and South Africa, the first letters of each of which constitute the name of the organization.

The proposal will seem very important if we know that Iraq’s imports from BRICS members or future members, “including Iran, whose membership application file has been accepted,” constitute more than seventy percent of Iraq’s total imports, and that total exports to it exceed 55% of what the country exports.

There is also the political aspect involved in joining the organization, which is no less important than the economic aspect. Although the organization is not a political entity, the mere coordination among its members on major global trade issues places it in opposition to the Group of Seven industrialized countries, and this entails a corresponding political performance. And contrary to it.

Experts who are optimistic about the Iraqi desire are not equally optimistic about the issue of accepting the Iraqi request “which has not yet been submitted,” because the requirements for acceptance are many, and a large part of them are difficult and require a strong diplomatic presence to enforce them.

Requirements such as the level of education, foreign investment, the presence of a huge local industry, and diplomatic weight The great one who is the lifter of all these weights.

These are extremely difficult requirements that must be thought carefully about before we repeat the example of Algeria, which failed to convince the BRICS countries of its eligibility, and its application was rejected despite the amount of optimism shown by the Algerians when they submitted their application to join.    https://alsabaah.iq/86353-.html

The Central Bank Of Iraq's Foreign Sales Rise By 81%

2023-10-30 Shafaq News/ External remittances increased at the Central Bank’s auction, today, Monday, by 81% at the expense of cash sales, to reach $171 million.

Shafaq News Agency correspondent said, “Today, during its auction for buying and selling the US dollar, the Central Bank sold 203 million, 802 thousand and 572 dollars, which the bank covered at a base exchange rate of 1,305 dinars, per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for foreign transfers and at 1310 dinars per dollar in cash.

Our correspondent added that most of the bank's dollar sales went to strengthening balances abroad in the form of (remittances, credits), which amounted to 171 million 142 thousand and 572 dollars, an increase of 81%, compared to cash sales amounting to 32 million and 660 thousand dollars.

Our correspondent pointed out that the number of banks that bought cash dollars reached 6 banks, while the number of banks that responded to requests to enhance balances abroad reached 22 banks, while the total number of exchange and brokerage companies participating in the auction was 62 companies.   LINK

In The Economic Balance.. How Is The Relationship Between The Rise In The Exchange Rate And The Unemployment Rate In Iraq?

Baghdad today – Baghdad    Economic expert Ahmed Al-Tamimi considered today, Sunday (October 29, 2023), that the rise in dollar exchange rates contributed to the difficulty of living for the unemployed, with the prices of goods and services rising due to the rise in exchange rates.

Al-Tamimi said, in an interview with “Baghdad Today,” that “the unemployment rate in Iraq is approximately 20%, but this percentage has declined recently after the recent appointments of those with advanced degrees, as well as the first and others, but the percentage is still high and constitutes a real concern among people.” the society".

He added, "The rise in the dollar exchange rate in recent months did not contribute in a real and significant way to the rate of increase in unemployment in Iraq, but this matter contributed to a decline in the standard of living of the poor and middle class, due to the significant rise in prices.

This rise also contributed to alleviating the suffering of the unemployed." Work, especially for the youth segment, which needs daily money to meet some of its needs.”

The percentage of the labor force in Iraq is 63% of the population, which means approximately 26 million people, while the unemployment rate among them, according to the last survey announced in 2022, is 16.5%, which means that the number of unemployed people in Iraq is more than 4 million people.

The budget included appointments amounting to more than 800,000 job grades, but in general they went to lecturers and contracts, that is, those not included according to the concept of “the unemployed,” in addition to providing 150,000 job grades to be distributed among the governorates, which means that these grades may be able to reduce the unemployment rate by 20%, i.e. Making the unemployed more than 3.2 million unemployed only.    LINK

Government Spokesman: The Decision To Close The United States Embassy Is Destroying Iraq

Posted On2023-10-30 By Sotaliraq   Regarding the demands to close the United States Embassy in Baghdad, Iraqi government spokesman Bassem Al-Awadi said that it is “a decision that would destroy Iraq.”

Al-Awadi stated in an interview with Al-Ahed satellite channel, affiliated with Asaib Ahl Al-Haq, that “there are many international obligations on Iraq, and that any decision targeting diplomatic missions greatly affects Iraqi foreign relations.”

He added, “The decision taken by the government to close the Swedish embassy in Iraq led to international concern. We have received demands from various embassies that diplomatic missions must be protected from repeated attacks on them,” referring to the government’s previous decision to close the Swedish embassy against the backdrop of the issue of burning the Holy Qur’an in Sweden.

Al-Awadi promised that a decision such as closing the American embassy would not only affect the strategic framework agreement (signed between Washington and Baghdad), but would lead to the destruction of Iraq because of the international importance of its presence in Iraq.

The appearance of the government spokesman and his making statements of this kind on this channel (Al-Ahed) in particular, implicitly reveals, in the eyes of observers, that the “Asa’ib” movement, led by Qais Khazali, is among the Shiite groups and factions within the “coordination framework” forces that formed the Sudanese government, without In agreement with calls to close the Washington embassy in Iraq.

The government spokesman’s preference to appear on a “partisan” channel to express his position outside of the official government platforms is interpreted by observers as an attempt by the government to avoid criticism that might be directed at it from extremist factions regarding its position on the United States of America, if it announced that. Through its official statements and platforms.

The issuance of the government statement by this Asa’ib channel indicates that it intersects with the leader of the “Sadr movement,” Muqtada al-Sadr, and the rest of the armed Shiite factions that launched several attacks on American bases and interests in Iraq and Syria during the last two weeks in response to Washington’s support for Israel.

Last Friday, Muqtada al-Sadr called on the government and parliament to close the American embassy in Baghdad in protest against the unlimited American support for Israel in its war on Gaza.

Some observers tend to believe that Al-Sadr, with his stance, wanted to embarrass his opponents in the “Coordinating Framework” forces and the so-called “Islamic resistance” groups who control the government, and forced him to withdraw his parliamentary bloc (72 seats), mid-June 2022, and expose their claims of opposing the presence. Americans in Iraq.

Most observers in Baghdad speak of “sharp divisions” within the ranks of the Shiite forces and factions regarding the position on targeting American interests in Iraq. The “pragmatic” forces, represented by Asaib Ahl al-Haq, the Wisdom Movement, the State of Law Coalition, and the Victory Alliance, tend, within the “coordination framework,” to calm down and not to plunge Iraq into a new war, and they also stress Iraq’s responsibility to protect foreign missions and interests. In Iraq and not allowing it to be targeted.   LINK

Provoking Points to Ponder From Leonardo Da Vinci

Leonardo Da Vinci --  Italian - Author - Painter - Sculptor and Engineer --- Born  April 15 1452 -  Died 1519

"Patience serves as a protection against wrongs as clothes do against cold. For if you put on more clothes as the cold increases, it will have no power to hurt you. So in like manner you must grow in patience when you meet with great wrongs, and they will then be powerless to vex your mind."

 "Oh Lord - thou givest us everything, at the price of an effort."

"You do ill if you praise, but worse if you censure what you do not understand."

"As a well-spent day brings happy sleep, so life well used brings happy death."

"I do not depart from my furrow" "Obstacles do not bend me"  "Every obstacle is destroyed through rigor"  "Obstacles cannot crush me, every obstacle yields to stern resolve."

"The greatest deception men suffer is from their own opinions"

Goldilocks' Comments and Global Economic News Sunday Evening 10-29-23

Goldilocks' Comments and Global Economic News Sunday Evening 10-29-23

Good evening Dinar Recaps,

"The Testnet successfully upgraded Wednesday, September 20 at 1500 UTC to release candidate versions of Stellar Core and Horizon. Mainnet validators will likely schedule an upgrade vote date for 6 weeks after stable releases come out, and as soon as that happens, we will update this doc to include it."

The testing period for Protocol 20 is still in progress per this article from the Stellar Network. As they said, they will update it after the vote and testing period is complete.

Many companies around the world have already signed smart contracts with each other to work together. This will create a shift inside a tokenized asset market due to preferences on which companies and networks have signed over their allegiance.

Many companies will begin selling their stocks to join new tokenized asset sector stocks they have new smart contracts with going forward. It will cause fluctuations in the market for a while until contracts begin to get settled and proceed.

Once the markets and the banks are synchronized, we will begin to see movement forward with new correlated assets filling in new price patterns. These new price patterns will affect every sector of the market going forward. This includes the foreign currency market on Forex.

© Goldilocks

https://stellar.org/blog/developers/protocol-20-upgrade-guide

https://www.cnn.com/jpmorgan-dimon-family-shares-sale/index.html

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Brazil Central Bank to Roll Over Currency Swaps Expiring in January

US News Link

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US regulators unveil updated fair lending rules for banks
https://www.msn.com/en-ca/money/other/us-regulators-unveil-updated-fair-lending-rules-for-banks/ar-AA1iLiSA

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Fastest 100 meters by a bipedal robot - 24.73 seconds 🤖

https://youtube.com/shorts/QvfK6f_8iGE?feature=shared

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Lawrence Lepard, "fix the money, fix the world" on X

 https://x.com/lawrencelepard/status/1718452736293740662?s=12&t=ARFsxO8RWWcYQAyLxMzqVA

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The four steps needed to make gold a monetary asset - Monetary Metal's Keith Weiner

Kitco News Link

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Archax Aims to Roll Out Regulated Exchange for Tokenized Assets 

Tokenhell Link

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Brazil Central Bank to Roll Over Currency Swaps Expiring in January
US News Link

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 Global stocks have lost another $1.5tn in market cap this week on still-elevated US 10y yields and on not good enough earnings results. All stocks are now worth $98.2tn, less than global GDP. This means that the Buffett Indicator is once again below the critical level of 100.

https://twitter.com/Schuldensuehner/status/1718608842555011405?t=p9qVgWWNxTs-59RPQ2WPDQ&s=35

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Thank you Dinar Recaps

Iraq Economic News and Points to Ponder Sunday Afternoon 10-29-23

Iraq Economic News and Points to Ponder Sunday Afternoon 10-29-23

Tlm724 Administrator Bondlady’s Corner

The Prime Minister's Advisor Explains The Importance Of Legislating The Economic Reform Law

Money  and business  Economy News _ Baghdad  Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, outlined the paths of partnership between the state and the private sector, while explaining the importance of legislating the economic reform law.

Saleh said, in an interview with the Iraqi News Agency, followed by “Al-Iqtisad News,” that “the government’s current and future economic vision has been touched upon by the government program through many axes focused on describing the future of the economic system in the country,”

 indicating that “the description took its way in building a real partnership between the state and And the private sector, with the aim of creating a gradual separation from the dominance of oil rents in keeping the country captive to economic unilateralism and relying on oil wealth revenues alone as the sole basis for financing productive activities in the economy.”

He explained, "Partnership opportunities with the private sector have taken different paths today, including financing partnerships, which include issuing carbon bonds or reconstruction bonds toward market resources," noting that "the private sector will contribute to financing economic development, in addition to the role of the Iraq Development Fund, which There will be an increase in direct financing from the government to meet the need of civil society activity to finance its investments at various levels, according to a strategy targeting small and medium-sized activities and others.”

He pointed out that “among the paths is the government’s role as an actual guarantor in supplying Western technology to private activity, especially in the industrial sector, agricultural industries, and other digital activities,” stressing that it is “a guarantor partnership for the supply of advanced technology to the country with financial government guarantees within the vision of partnership between the state and the private sector.”

To achieve a unified development goal in which human, financial and organizational resources are mobilized between the state and the private sector and with advanced external technological support.”

He continued, "The legislation of the economic reform law, the implementation of which will represent a new pattern of partnership in investing in strategic economic activities, especially between the arms of the productive private sector and the government, to extend investment activities to wide areas such as unexploited natural resources and forms of jointly operated infrastructure."

Views 40 10/29/2023 - https://economy-news.net/content.php?id=37144

Stability Of Inflation Indicators In Iraq During The Past Month

Political | 04:27 - 10/29/2023  Mawazine News – Baghdad  The Ministry of Planning announced today, Sunday, the stability of inflation indicators during the month of last September.

The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said in a statement received by Mawazine News: “The Ministry recorded stability in inflation indicators during the month of last September, as the monthly inflation rate did not witness any increase or decrease, compared to the month of August, which recorded an increase of (0.5).

He added , “The annual inflation rate during last September witnessed an increase of (3.6%), compared to the same month in 2022.   https://www.mawazin.net/Details.aspx?jimare=237027

Saleh Reveals The Mechanism For Establishing Sovereign Funds

Time: 10/29/2023 Read: 1,118 times   {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed the mechanism for establishing sovereign funds.

Saleh told Al-Furat News Agency, “The rise in oil prices above the price set for oil in the budget goes toward filling the hypothetical deficit.”

He stated that "the establishment of sovereign funds is approved if there is a surplus in the general budget for the three years when it exceeds the deficit and exceeds the balance. Then one can think about investing those surpluses in a sovereign wealth fund."

He pointed out that "in any case, the characteristics of that fund are subject to investment data and economic development priorities in our country and according to the government curriculum." LINK

European Union Ambassador: We Seek Cooperation With Iraq To Support The Economy... And Confront Climate Change That Has Cost Us More Than 150 Billion Dollars Annually

Sunday 29 Oct 2023| Economical Number of readings: 393  Baghdad / NINA / The European Union affirmed its endeavor to cooperate with the Iraqi people and government to support the private economy, civil societies and research centers in order to enable policy reforms and turn them into reality.

European Union Ambassador Thomas Seiler said, during the opening of the activities of the “Iraq and Climate Change” Forum, which was held by the European Union mission on Sunday in the capital, Baghdad, on the occasion of World Climate Action Day, that “the European Union shows special interest in climate change and its effects on the world, and we find it more responsible for it.” The biggest challenges facing this generation are the economic challenges and pledges to reach zero emissions of carbon dioxide, which requires unremitting efforts to address climate change.”

He added, "In the context of biodiversity laws, and this is part of the world's challenges, scientists have been appointed concerned with this regard. The impact of climate change is increasing rapidly and worsening in controlling human change and increasing the risks of instability."

He explained, "Iraq is classified as one of the most vulnerable countries to change around the world, which makes it face great challenges in high temperatures, lack of rainfall, as well as dust storms, in addition to the conflicts that the country has witnessed, displacement, and lack of water sources."

He continued to say, "Many said that water would be the future of humanity and an alternative to oil. Likewise, extreme weather conditions cost us more than 150 billion dollars annually because it is equivalent to 2.5% of the gross domestic product of many countries around the world."

The European Union Ambassador stressed, "Iraq faces high risks due to extreme and harsh weather conditions, and this will face it in the process of transitioning to carbon emissions. More importantly, there are high opportunities in this regard because the transition process to an economy with low carbon emissions creates the opportunity for an economic acceleration of more than 60 percent." One billion dollars and will create more job opportunities in 2040 compared to normal years.”

He added, "Reducing emissions does not mean lower productivity, and since 1990 the European Union has reduced emissions and at the same time increased national income output. Therefore, we must work together and provide efforts for appropriate policy reforms and correct investments, and reforms must be at the regulatory and national strategic levels, to enhance New consumer behavior in enhancing capabilities and raising awareness.”/  https://ninanews.com/Website/News/Details?key=1086666

Government Advisor: New Directive From Sudanese For International Meetings On Water.. Iraq Is Witnessing A Major Energy Transformation

Sunday 29 October 2023 | Economical Number of readings: 187   Baghdad / NINA / A government advisor revealed a new directive from Prime Minister Muhammad Shiaa Al-Sudani regarding international meetings on the water file, confirming that a draft renewable energies law would be sent to the House of Representatives for legislation.

Ali Al-Lami, advisor to the Prime Minister on climate affairs, said during the “Iraq and Climate Change” forum held by the European Union mission in Iraq, today, Sunday, on the occasion of World Climate Action Day, “We focus on what the national government accomplished during its period of assuming responsibility a year ago, including the file Climate changes:

As soon as the Prime Minister assumed his duties, we were tasked with preparing a climate conference for Iraq’s response and putting it into practice, after there was a great effort from the Ministries of Environment and Planning and the supporting ministries in preparing the strategies and documents required to respond to the requirements of the Convention, climate change and the international Paris Agreement.

He added, "The climate conference in Basra resulted in many axes that found their way to implementation and the formation of a high-level team headed by the Prime Minister's Office to follow up on the decisions of the climate conference in Basra, the first of which is the translation of the executive plans and environmental strategies, including the national environmental strategy, the biology strategy, the pollution reduction strategy, and a document." National contributions to reduce emissions.”

He continued, "Great work is currently being done by the Ministries of Planning and Environment to transform the plans in the strategies into executable projects and allocate resources for their implementation. The Basra Conference also produced many recommendations, including placing the water item as a permanent paragraph in all meetings and demanding our fair share, but we often attribute scarcity."

Water leads to climate change, but the main reason is withholding water from its sources. That is why the Prime Minister directed that this paragraph be placed in all international conferences on the subject. There is a great effort in adapting to climate change, including granting loans for modern irrigation techniques, and also a shift in creating agricultural varieties that are resistant to climate change.

Heat and drought, and an initiative was launched by the Prime Minister to plant a million palm trees, which is being implemented through a committee in the Ministry of Agriculture, in which several ministries participate to implement the initiative. There is also an agriculture project on the coast of the Arabian Gulf, and these factors help in adapting to climate changes.”

Regarding the level of treating heavy water and adapting to water scarcity, the government advisor explained that “the general budget has allocated good sums of money to establish and maintain water treatment.

The Ministry of Environment has also completed many documents, and now in their final stages, some of them have been completed and others have been developed, including the national contribution document for reducing emissions, and the document The National Communication, the National Adaptation Plan, the National Appropriate Mitigation Measures, the Technology Needs Document, and the National Program Document, and these are all documents to meet commitments to the international community within the Climate Change Agreement and the Paris Agreement, and they all include projects prepared for coordination between different ministries, civil society organizations, and the private sector.”

He added, "There is very significant progress on the issue of energy, foremost of which is the allocation of one trillion dinars from the Central Bank to the issue of transitioning to environmentally friendly energies and solar energy. The budget law also included a guarantee for the payment of solar investment stations, and sums were allocated during this year. Six contracts were also signed to invest in associated gas, as well as Now the Ministry of Oil has plans to invest in the renewable energies that were contracted at a capacity of 12 kilowatts, and part of it will be allocated to the production of green nitrogen.”

The government advisor confirmed, “There is a very large transformation in energy that the country is witnessing, including among our legislative matters the renewable energies project, which was sent to the House of Representatives recently.”

Regarding the Ministries of Electricity and Oil, he explained, “Many electric power generation facilities and installed units are being converted to invest in gas to produce electric energy, and there are also many units in joint work between the Ministries of Oil and Electricity to establish solar energy generation plants and invest the energy generated in the oil fields in the electrification of the production process.” “Oil.”

Regarding the clean energy file, the government advisor confirmed, “Iraq took precedence over many neighboring countries and launched carbon bond projects between the Ministry of Oil and the Ministry of Environment. The Council of Ministers also issued a decision for the Ministers of Oil and Environment to contract to invest in carbon bonds, including one of the fields that was tendered and is being analyzed.” ".

He added, "Iraq has joined the methane coalition and there is a lot of work in the Ministry of Oil to account for methane gas, with Iraq preserving these emissions by up to 30%, and by the year 2030, what is achieved during this year will lead to reducing the carbon generated from associated gas collection projects from the year."

2022 - 2028 will achieve a reduction of up to 34 million tons per year, and the amount of carbon reduction achieved from solar energy projects within the oil patches for the years from 2022 - 2030 will be up to 2.8 million tons per year, and the total number of projects in the Ministries of Oil and Electricity will achieve 2.7 %, which is higher than the commitment given in the national contributions document,

which means that Iraq will achieve more than what is required,” adding that “the emissions reduction initiative led by the Ministry of Environment has achieved many achievements, including the existence of a plan to electrify 200 government buildings with solar energy.”/End 5    https://ninanews.com/Website/News/Details?key=1086695

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

https://www.bondladyscorner.com/

Provoking Points to Ponder on WORDS:

Words are both better and worse than thoughts  - they express them - and add to them -- they give them power for good or evil - they start them on an endless flight - for instruction and comfort and blessing -- or for injury and sorrow and ruin -- Tryon Edwards

When you have spoken the word - it reigns over you -- When it is unspoken you reign over it -- Arabian Proverb

You may tame the wild beast - the conflagration of the forest will cease when all the timber and the dry wood are consumed -- but you cannot arrest the progress of that cruel word which you uttered carelessly yesterday or this morning -- FW Robertson