Iraq Economic News and Points to Ponder Late Friday Evening 11-3-23

Iraq Economic News and Points to Ponder Late Friday Evening 11-3-23

Tlm724 Administrator Bondlady’s Corner

Advisor To The Prime Minister: Launching The (Visa Direct) Service Will Contribute To Reducing The Exchange Rate

 Economy     Baghdad - IA - Hassan Al-Fawaz   Today, Friday, Fadi Al-Shammari, Advisor to the Prime Minister, Fadi Al-Shammari, considered the launch of the “Visa Direct” service for transferring money abroad a successful step that will facilitate the work of small merchants, stressing that  it will contribute to reducing the exchange rate in the parallel market, and the   procedures take only 5 minutes.

Al-Shammari told the Iraqi News Agency (INA):

“The launch of banking work during the era of the current government is taking place with a new vision and modern mechanisms, and First Bank of Iraq is the first bank to launch the direct financial transfer service digitally through the (Visa Direct) service.”  He added,

 "This development is a major achievement that is linked in one way or another with the strategic vision held by the government and launched by the Prime Minister in financial, banking and economic management, and

 is also consistent with the new directions of the Central Bank in the process of re-evaluating, restructuring, organizing and maturing the banking work in Iraq, and

 we are now witnessing the start of "It will have a significant impact on the commercial and banking reality in Iraq." 

He continued,  "We hope that citizens will interact with this banking service, which will contribute to cutting off speculators in the black market, and the

 Visa Direct service will include many small merchants and will help them access a clear, explicit, official, and legal platform to transfer money abroad easily and conveniently, from account to account, at the official exchange rate."  He pointed out that

 "this service will contribute to a decrease in the exchange rate in the parallel market within the framework of ongoing government work to regulate banking work."

 Earlier, 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.

 The bank confirmed that the “Visa Direct” service is for direct financial transfer to the bank’s customers in Iraq, and  it was launched digitally for the first time through a special application, and

every customer in the First Iraq Bank (FIB) can transfer five million dinars daily, and 13 million dinars monthly, which will be calculated at a price. Official exchange.

 Central Bank Governor Ali Al-Alaq said during his speech at the service launch conference:

 “The Visa Direct tool came at the right time to facilitate transfer operations, especially simple transfers at the citizen level.” 

He stated,   “This tool facilitates the demand for foreign currencies, and  we are trying to expand access to these currencies in easy ways,” stressing,

 “The issue of foreign transfers, selling the dollar, and the exchange rate are fundamentally linked to employing as many electronic tools as possible.”    https://www.ina.iq/196636--.html

Al-Mandalawi: The Next Stage Will Witness A Process Of Modernizing The Foundations Of Life In Baghdad

Political     Baghdad – IA  The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, confirmed today, Friday, that the next stage will witness a process of modernizing the foundations of life in Baghdad.

 The media office of the First Deputy Speaker of the House of Representatives said in a statement received by the Iraqi News Agency (INA):

 “Al-Mandalawi stressed that the areas south of Baghdad deserve greater attention in terms of services and infrastructure development, and utmost efforts must be made to achieve this.”

 During his meeting with a number of sheikhs and notables from the regions of southern Baghdad - Mahmoudiyah district, according to the statement,

 Al-Mandalawi stressed “the necessity of working hard to eliminate the service and urban disparities between cities and regions located on the outskirts,” stressing,

 “his daily follow-up of the process of providing services to citizens and monitoring the implementation of development projects for the budget.” "With those concerned." 

He added, "The basis is providing public services to citizens," pointing out that  "the next project will witness a process of modernization of all the foundations of life in Baghdad and its various regions."    https://www.ina.iq/196650--.html

After Meeting With Macron.. Barzani: The Region’s Oil Exports Have Stopped Technical, Not Political

Time: 11/03/2023 Read: 325 times   {Politics: Al-Furat News} The President of the Kurdistan Region, Nechirvan Barzani, announced that stopping the export of the region’s oil caused Iraq to lose $5 billion, indicating that the resumption of oil exports depends on Baghdad.

Barzani said in a press conference, held today, Friday, after the end of his meeting with French President Emmanuel Macron in Paris, that “the resumption of oil exports depends on Baghdad,” adding: “I do not say that the failure to resume oil exports is a political issue, but rather a technical issue,” explaining that “stopping the export of oil The Kurdistan region caused Iraq to lose $5 billion.”

He added, "Not exporting oil harms not only the Kurdistan region but all of Iraq," expressing the hope that Baghdad will look at the issue in the same way and "find an appropriate solution for it."

Regarding his meeting with Macron, the President of the Kurdistan Region explained: “We had a good meeting with President Macron,” stressing that “France was a major supporter of Iraq.”

Barzani noted that “President Macron expressed his readiness to help solve the problems between Erbil and Baghdad,” pointing out that an invitation was extended to President Macron to visit the Kurdistan Region, and he will visit the Kurdistan Region.

Nechirvan Barzani noted that "there is no excuse left for Baghdad not to send salaries to the Kurdistan Region," stressing that "the Kurdistan Regional Government provided the data to Baghdad transparently," referring to the data of Kurdistan Region employees.  LINK

Stability Of Oil Prices In Global Markets

Economy |  03/11/2023   Follow-up - Mawazine News   There was little change in oil prices today, Friday, but they are heading to record a second consecutive week of losses with the US Central Bank leaving the door open to possible increases in interest rates in the future, as well as declining fears that the conflict in the Middle East could lead to... to disruption in supplies.

Brent crude futures rose six cents to $86.91 per barrel, while US West Texas Intermediate crude futures increased 12 cents, or 0.2%, to $82.58 per barrel.

The two benchmark crude oil rose by more than $2 a barrel yesterday, Thursday, and Brent is heading to record a decline of about 4% this week, while West Texas Intermediate crude is heading to close down 3.5%. Ended     https://www.mawazin.net/Details.aspx?jimare=237208

This Month...The Central Bank Launches The Financial Sustainability Map

 The second and third 11/02/2023     Baghdad: Rula Wathiq   This month, the Central Bank launches a financial sustainability map in cooperation with international institutions.

 Bank Governor Ali Al-Alaq told Al-Sabah:

 The map, which is based on financial sustainability, was designed to manage environmental and social risks, noting that it will clarify the directions that the bank will take related to the awareness and educational aspect, as well as risk management and sustainable financing.  He pointed out that

 the map will support financial inclusion, including the Bank’s initiatives in supporting small and medium enterprises that are being adapted or pushed towards being consistent with what we aspire to, taking into account the environmental and social aspects, pointing out that

 Iraq can address the backwardness of industry, agriculture, and the economy by developing them according to modern foundations and standards using methods. Which leads to achieving this purpose.  Al-Alaq pointed out that

the factors for regulating trade are not achieved with the diversification of the economy and the provision and support of projects that operate within this framework, with the presence of chaos in them and the lack of control over this large activity that is drowning the country, undermining the opportunities for growth and development, and expanding the production base in a large and frightening manner, in addition to the fact that it introduces a lot of Goods that lack many health and environmental specifications and standards. 

He added that   financing is a complementary link when appropriate conditions are available, as happened with the launch of an initiative to lend for the use of clean energy, especially at the household level in the use of solar cells, indicating that we do not find any interest in this initiative, which forces us to review other factors related to the awareness process, as The vast majority of citizens do not have an adequate understanding of the benefits these cells bring on the personal and environmental levels.

 https://alsabaah.iq/86616-.html

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

https://www.bondladyscorner.com/

Provoking Points to Ponder on DREAMS:

Expect your every need to be met, Expect the answer to every problem, Expect abundance on every level, Expect to grow spiritually - Ellen Caddy - The Dawn of Change 

Expect the best: Convert problems into opportunities; Be dissatisfied with the status quo: Focus on where you want to go, instead of where you're coming from; and most importantly, Decide to be happy, knowing it's an attitude, a habit gained from daily practice, and not a result or payoff - Dennis Waitley - The Winners Edge

When you are inspired by some great purpose - some extraordinary project - all your thoughts break their bonds - your mind transcends limitations - your consciousness expands in every direction -- and you find yourself in a new, great and wonderful world -- Dormant forces, faculties and talents become alive, and you discover yourself to be a greater person by far than you ever dreamed yourself to be - Patanjali

Trials are but lessons that you failed to learn presented once again - so where you made a faulty choice before you can now make a better one - and thus escape all pain that what you chose before has brought to you - A Course in Miracles

Your pain is the breaking of the shell that encloses your understanding - Kahlil Gibran

Take heart - truth and happiness will get you in the end -- You can't lose in this game - have fun -- It goes on too long to be taken seriously "all" the time -- John & Lyn St Clair Thomas - Eyes of the Beholder

Goldilocks' Comments and Global Economic News Friday Evening 11-3-23

Goldilocks' Comments and Global Economic News Friday Evening 11-3-23

Good evening Dinar Recaps,

"SEC Finalizes Rule on Security-Based Swaps Trading Venues"

The delayed Dodd-Frank-era measures outlines and registration rules. After careful analysis, there were about five firms expected to have to register with agency.

Conclusion: "The US Securities and Exchange Commission (LINK BELOW) has released final rules for security-based swaps trading platforms, giving them the green light to register with the agency."  This allows security based swaps to flow freely through all the firms with transparency in foreign currency exchanges.

There are three steps to the finalization of a rule. This is the third one, and it was given the green light to move forward.      (https://www.bloomberg.com/quote/13165Z:US)

This does not mean you and I will go in at the push of a button. These firms are still organizing themselves, registering with the SEC, and preparing for new changes taking place.

© Goldilocks
Bloomberg Link

~~~~~~~~~~

Executive Order Announcement:

On October 29, the Biden Administration issued a broad Executive Order (Order) on artificial intelligence (AI).  Titled “Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence,” the Order establishes guidelines for AI safety and security, aims to shield Americans’ data privacy, and emphasizes equity and civil rights.

As stated by the White House in its Fact Sheet about the Order, the Order “stands up for consumers and workers” while fostering innovation and competition.
ConsumerFinanceMonitor Link

~~~~~~~~~~

AFME and Deloitte release post-trade inefficiencies paper.

The Association for Financial Markets in Europe (AFME) and Deloitte have published a report detailing the causes of settlement fails in the EU securities market. They offer a number of recommendations on how post-trade processes could be made more efficient.   AssetServicingTimes Link

~~~~~~~~~~

Riding the Wave: Tokenization Takes Center Stage in Crypto's 2023 Resurgence Securities.io Link

~~~~~~~~~~

Coinbase crypto futures for retail US traders goes live, includes 'nano' bitcoin trading The Block Link

~~~~~~~~~~

Banking Announcements on AI:

Integration of AI, Fintech, ESG Gets Underway

By Jill Wong, Regulation Asia  Published on 31st October 2023

The financial industry is accelerating its interest around three main themes - fintech, ESG and AI.  
Regulation Asia Link

G7 Nations Agree on Code of Conduct for AI Systems

By Editors, Regulation AsiaPublished on 31st October 2023

The code of conduct for AI developers seeks to promote the development of “secure and trustworthy” AI systems internationally.   RegulationAsia Link

White House Issues Executive Order to Regulate AI

By Sanday Chongo Kabange, Regulation AsiaPublished on 31st October 2023

The executive order sets out new standards for AI safety and requirements for developers and users of AI systems. RegulationAsia Link

~~~~~~~~~~

CFPB Proposes Rule Granting Consumers Greater Access to and Control Over Their Financial Data | Jaburg Wilk  JDSupra Link

~~~~~~~~~~

Wall Street regulator adopts new rules for swap trading facilities Reuters Link

~~~~~~~~~~

Saudi Arabia is engaged in ongoing discussions with Pakistan to purchase a portion of the government's stake in a $7 billion copper project, which is co-owned with Barrick Gold

The second-largest gold producer

The Kingdom is increasingly hunting for metal assets.

A trend...

Read: https://twitter.com/GoldTelegraph_/status/1720483410098188506

~~~~~~~~~~

Today,

China's biggest index provider launched two stock indices linked to gold, which include shares of global gold mining companies.

Read: https://x.com/goldtelegraph_/status/1719809391174865082?s=46

~~~~~~~~~~

What execs are saying about bank-fintech partnerships Banking Dive Link

~~~~~~~~~~

 https://twitter.com/Rohitku24694375/status/1720435109097312605?t=YQhtCa8GVMFYnfczq77ptw&s=35

~~~~~~~~~~

1 Minute All 7 Chakras Quick Cleanse | Meditative Mind #shorts

https://youtube.com/shorts/1558rHJqOyw?feature=shared

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Friday Night "Tidbits From TNT" 11-3-2023

TNT:

Tishwash:  Oil deals"... Iraqi steps to get out of America's influence towards Russia and China

The British “Oil Price” website stated that Iraq is increasingly moving away from the influence of the United States, through energy deals with Moscow and Beijing, pointing to Iraq’s recent decision to increase its oil production, and to supply this additional increase to China, and that the summit between the President Minister Muhammad Shiaa Al-Sudani and Russian President Vladimir Putin discussed the issue of resuming the export of the region's oil. 

Shafaq News Agency translated the report of the British website specialized in energy news, which indicated that in light of the current primary focus of the United States in the Middle East on trying to prevent the expansion of the war between Israel and Hamas, China and Russia are busy strengthening their influence in other locations in the region, including Recently in Iraq. 

The report considered that enhancing this influence is still a major goal for Beijing and Moscow by expanding their Iraqi presence for three main reasons, the first of which is that Iraq can easily become the largest producer of crude oil at the global level within a relatively short period of time if the rampant corruption in the oil sector is reduced. And gas.

The second reason, according to the report, is Iraq’s geographical location in the heart of the Middle East, making it a vital link in establishing a network of logistical communications from Eastern Eurasia to Western Europe. 

Regarding the third reason, the report stated that Iraq, along with Iran, under whose permanent influence it operates, constitutes the spiritual, political, military and cultural core of the Shiite Crescent, adding that there was a wave of activity during the past two weeks that included Iraq, Russia and China, confirming the seriousness of continuing all these plans.

The report explained that plans to increase Iraq's oil production and then send this additional production to China witnessed an acceleration, especially during the Council of Ministers meeting last week headed by Muhammad Shiaa Al-Sudani. 

The report quoted a high-level source working closely with the Iraqi Oil Ministry as saying that the Iraqi Council of Ministers agreed to increase crude oil exports to China by 50%, raising it from 100,000 barrels per day to 150,000 barrels per day, adding that it was also agreed to enhance The daily production capacity of the largest oil fields in Rumaila, whose partners include BP (47.6%), the China National Petroleum Corporation (46.4%), and the State Oil Marketing Corporation (6%), increased from 1.3 million barrels per day to 1.4 million barrels per day by the end of the year. Present. 

The report pointed out that these steps represent part of Iraq’s plan to increase its oil production to reach 8 million barrels per day by the year 2028, adding that there is no main reason for not achieving such an increase and even reaching up to 12 million barrels per day, which is a possible production given Iraq’s resources. Oil, but the only obstacle here is the rampant corruption in the oil and gas sector, which has hindered this progress for years.

The report also indicated that at the same meeting of the Iraqi government last week, it was also agreed that Iraq should provide its full support for the implementation of all aspects of the “Framework Agreement between Iraq and China” signed in December 2021, adding that this agreement is very similar to In terms of its scope and size, with the “Comprehensive Cooperation Agreement between Iran and China for 25 years.” 

The report continued that the main part of both agreements is that China has the right of first refusal on all oil, gas and petrochemical projects that will be proposed in Iraq for the duration of the deal, and that it is granted at least 30% of all oil, gas and petrochemical projects that it purchases. 

The report added that the other main part of the framework agreement between Iraq and China allows Beijing to build factories throughout the country, with the consequent creation of infrastructure related to projects that also serves the “Belt and Road Initiative”, including railway lines under the supervision of its corporate employees. Chinese present on the ground in Iraq.

The report explained that the railway infrastructure in Iraq will be completed after the completion of the network in Iran, which began in earnest in late 2020 with an electricity contract related to the 900-kilometre main railway linking Tehran to the northeastern city of Mashhad. He added that plans have been drawn up to establish a high-speed train line between Tehran, Qom and Isfahan and to expand this developed network to the northwest via Tabriz, which is considered the headquarters of many major sites related to oil, gas and petrochemicals, and the starting point for the Tabriz-Ankara gas pipeline - which will be a focal point for the Silk Road. The new 2,300-kilometre-long project connects Urumqi (the capital of China's western Xinjiang province) to Tehran, and will connect Kazakhstan, Kyrgyzstan, Uzbekistan and Turkmenistan, before reaching Europe via Turkey.

The report quoted an Iraqi source as saying that, given the size and scope of the infrastructure that will be developed, there will be a heavy presence of Chinese “security” personnel in major projects throughout Iraq, adding that these elements will also be supported by security personnel associated with the participating Iranian companies. It is also in Chinese-Iraqi projects, especially those affiliated with the giant Khatam al-Anbiya Company, which is controlled by the Iranian Revolutionary Guard. 

The report considered that the extensive presence of Iranian companies that maintain a large number of Revolutionary Guard forces inside Iraq, such as Khatam al-Anbiya, would allow Iran to continue its long-term plan to establish a strategic “land bridge” to the Mediterranean coast in Syria.

He continued that other employees of the state-owned Russian company "Rosoboro Nexport", which monopolizes all dual-use military products, services and technologies, appear at all major infrastructure development sites in Iraq. 

The report concluded by indicating the existence of long-term plans by Russia (along with China) to control a unified Iraq, including the Kurdistan Region. He recalled the meeting held on October 11 between Iraqi Prime Minister Muhammad Shia al-Sudani and Russian President Vladimir Putin in Moscow, where they spoke generally about developing the Iraqi oil sector and the presence of Russian oil companies in it. 

But the report considered that the reality, according to what an Iraqi source working closely with the Iraqi Ministry of Oil said, indicates that the discussions also included the future of oil exports from the Kurdistan Region to Turkey, in which the giant Russian oil company, Rosneft, plays a major role, given its control. Effective on a large part of the region's oil since 2017. He added that after 3 days, a meeting was held between the Minister of Energy and Oil, Hayyan Abdul-Ghani, with the head of the Russian "Gazprom" oil company, Alexander Dyukov, to discuss future oil and gas projects in southern and northern Iraq.  link

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

Tishwash:  Tomorrow, Baghdad will host a conference for 85 ambassadors and heads of Iraqi political and consular missions abroad.

 The seventh edition of the Iraq Ambassadors Conference will begin tomorrow, Saturday, in the capital, Baghdad.

The official spokesman for the Ministry of Foreign Affairs, Ahmed Al-Sahhaf, said in a statement received by Shafaq News Agency, “The conference is titled “Iraqi Diplomacy, Balanced International Relations and Sustainable Economic Development,” for the period 4-8 November 2023, with the participation of (85) Iraqi ambassadors and heads of political and consular missions. Iraqi abroad.

Al-Sahhaf explained, “The conference aims to present a developed agenda for Iraqi diplomacy, which will be reflected in more presence and effectiveness of foreign policy, activating Iraq’s role in Arab, regional and international organizations and strengthening relations with countries on the basis of the principle of mutual respect and achieving common interests. The conference is an in-depth opportunity to exchange views with the aim of Implementing the priorities of the government program and intensifying diplomatic work with various parties.” ink

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

Tishwash:  It takes 5 minutes.. Sudanese advisor: Launching the (Visa Direct) service will contribute to reducing the exchange rate

Today, Friday, Fadi Al-Shammari, Advisor to the Prime Minister, Fadi Al-Shammari, considered the launch of the (Visa Direct) service for transferring money abroad a successful step that will facilitate the work of small merchants, stressing that it will contribute to reducing the exchange rate in the parallel market and its procedures take only 5 minutes.

 Al-Shammari added, "The launch of banking work during the era of the current government is taking place with a new vision and modern mechanisms, and First Bank of Iraq is the first bank to launch a direct financial transfer service digitally through the (Visa Direct) service."

Today, Friday, Fadi Al-Shammari, Advisor to the Prime Minister, Fadi Al-Shammari, considered the launch of the (Visa Direct) service for transferring money abroad a successful step that will facilitate the work of small merchants, stressing that it will contribute to reducing the exchange rate in the parallel market, and the procedures take only 5 minutes.

Al-Shammari told the official agency, followed by (Al-Oula News): “The launch of banking work during the era of the current government is taking place with a new vision and modern mechanisms, and First Bank of Iraq is the first bank to launch a direct financial transfer service digitally through the (Visa Direct) service.”

He added, “This development is a major achievement that is linked in one way or another with the strategic vision held by the government and launched by the Prime Minister in financial, banking and economic management, and is also consistent with the new directions of the Central Bank in the process of re-evaluating, restructuring, organizing and maturing banking work in Iraq, and we are now witnessing the start of “It will have a significant impact on the commercial and banking reality in Iraq.”

He continued, “We hope that citizens will interact with this banking service, which will contribute to cutting off speculators in the black market, and the Visa Direct service will include many small merchants and will help them access a clear, explicit, official, and legal platform to transfer money abroad easily and conveniently, from account to account, at the official exchange rate.”

He pointed out that “this service will contribute to a decrease in the exchange rate in the parallel market within the framework of ongoing government work to regulate banking work.”
Earlier, 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. 

The bank confirmed that the “Visa Direct” service is for direct financial transfer to the bank’s customers in Iraq, and it was launched digitally for the first time through a special application, and each customer in the First Iraq Bank (FIB) can transfer five million dinars daily, and 13 million dinars monthly, which will be calculated at a price. Official exchange.
Central Bank Governor Ali Al-Alaq said during his speech at the service launch conference: “The Visa Direct tool came at the right time to facilitate transfer operations, especially simple transfers at the citizen level.” 

He stated, “This tool facilitates the demand for foreign currencies and we are trying to expand access to these currencies in easy ways,” 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.”  link

Mot: .... Yea!!! -- Splain that!!! 

Mot: ... Patience - Opal .... 

Iraq News Highlights and Points to Ponder Friday Afternoon 11-3-23

Iraqi News Highlights and Points to Ponder Friday Afternoon 11-3-23

A List Of The Countries That Receive The Most American Aid.. Iraq Is Ranked Second

International  1,122 views   Alsumaria News – International  Afghanistan has topped the list of countries receiving the most US aid since 2000, with a total of $144 billion, according to the US Agency for International Development and the State Department.

The data showed that Iraq came in second place with aid amounting to 91 billion dollars, then Israel with about 84 billion dollars, while the American aid that Egypt has received since the beginning of the 21st century amounted to about 44 billion dollars, and Ukraine received aid from the]United States  amounting to 32 billion dollars.  2023-11-03 | 1,122 views   LINK

Decreased Smuggling Of Petroleum Products To The Kurdistan Region By 90%... 3 Strategies

Local   Today 11:20   Al-Ma’louma/ Diyala..    A security source confirmed, on Friday, that the smuggling of petroleum products to the Kurdistan region will decline by 90% during 2023.

The source said in an interview with “Al-Ma’louma/,” that “the law enforcement operation in Diyala, which began last March, adopted an important axis, which is addressing "The file of smuggling of all kinds, especially petroleum products, has been a source of concern, especially with the recurrence of crises."

He added, "Three strategies were adopted on the land roads between Diyala and the Kurdistan region, the most important of which are the checkpoints and the closure of all breezeways in the countryside overlapping the administrative borders, which contributed to the decline of the smuggling file by up to 90%."

He pointed out that "addressing the smuggling issue led to creating flexibility in providing fuel, in addition to cutting off any attempts at smuggling from the rest of the governorates through the Diyala roads to the region, given the severe damage it causes."

The smuggling of petroleum products caused severe harm in Diyala by creating crises and repeating long queues in front of gas stations. End 25 F   LINK

Security Forces Tightened Their Procedures In Central Baghdad And Installed Large Screens To Broadcast Hassan Nasrallah's Speech

https://media.shafaq.com/media/arcella/1699011867639.jpg

2023-11-03   Shafaq News / A security source reported, on Friday, that the Iraqi security forces had tightened their security measures in Tahrir Square in the center of the capital, Baghdad.

The source told Shafaq News Agency, "The security forces tightened their security measures within Tahrir Square, as dozens of protesters began arriving to the square, and a large screen was set up to watch Hassan Nasrallah's speech."

A segment of Iraqis are awaiting the expected speech by the Secretary-General of the Lebanese Hezbollah, Hassan Nasrallah, regarding the development of the current events in the Gaza Strip and the war against Israel.   LINK

Washington Approves A Deal To Sell Military Equipment To Iraq Worth $300 Million

Security |Baghdad today - follow-up   Today, Friday (November 3, 2023), the United States of America agreed to sell military equipment to Iraq worth $300 million.

The Pentagon said, "The State Department has approved the planned sale of logistical support and related equipment for Bell helicopters to Iraq."

She added that the deal would cost an estimated $300 million, noting that "the company's Textron unit is the main contractor for weapons."

Earlier, the American “Business Insider” website reported that there are four deals to purchase air fighters that may take place with countries in the Middle East, including Iraq, that would reshape the region’s largest armies, which for decades have been importing advanced warplanes in large numbers and were destroyed in some cases. Often record numbers in their purchases.

The report stated, "Iraq was conducting negotiations regarding 14 Rafale aircraft, and if completed, the deal would represent the first time that Baghdad had purchased combat aircraft from France since the former regime requested 133 Mirage F1 aircraft in the 1970s and 1980s."

The report pointed out that Iraq received its first F-16 aircraft in 2015, and they became the backbone of the Iraqi Air Force, but within five years, the future of these aircraft became questionable due to maintenance problems and technical aspects.  LINK

Al-Rasheed Bank: Applying To Purchase Dollars For Travelers Is Done Through Our Official Website

Economy   2023/11/03 10:45  Number of readings: 87   Baghdad - Iraq Today:  Al-Rasheed Bank confirmed that applications to purchase dollars for travelers are made through its official website.

The bank said in a statement, “Travelers wishing to obtain the dollar must enter the bank’s official website and apply via the link through the form designated for this purpose.”

He added, "Applications must adhere to the review deadline. Otherwise, the application will be canceled if they do not review the branch within the specified time."   LINK

Advisor To The Prime Minister: There Is No Shortage Of Currency Liquidity, And The Government Is Very Careful About Two Things

Baghdad Today – Baghdad  Today, Thursday (November 2, 2023), the advisor to the Prime Minister, Amer Al-Adad, denied that there was a shortage of financial liquidity in hard currency with the government.

Al-Adad said in a televised statement followed by "Baghdad Today", "Money is available, including hard currency, through oil sales and the central bank's currency auction."

He explained, "Electronic payment points allow a person to pay with an electronic payment card at points of sale in order to increase the transparency of the movement of money in the country and preserve public money. It is part of a larger program to shift to electronic banking and bring savings from homes to the banking system."

He added, "At this stage, the number of electronic payment cards in Iraq may range between 7 to 9 million cards, and we expect it to grow further with the imposition of collecting fees. We are in a transitional period so as not to confuse the market, after which the electronic payment system will be emphasized."

Al-Adad stated, "The economic reforms in the current government are characterized by seriousness and follow-up. In the reform program, we found that the targets do not match the goals, and we set new targets for each goal."

He stressed, "Collection is the duty of the state; but this type of contract has been transferred to the private sector, and the experience of electronic collection of electricity has been largely successful and this has been proven in Anbar, and investment depends on reforming the banking system."

He pointed out that "the government of Muhammad Shiaa Al-Sudani is very cautious regarding the issue of the people's assets, lands, and residential complexes, and is working on a real plan to support prices."

LINK

Provoking Points to Ponder on Difficulty:

Difficulty is the soil in which all manly and womanly qualities best flourish; and the true worker, in any sphere; is continually coping with difficulties -- His very failures, throwing him upon his own resources, cultivate energy and resolution; his hardships teach him fortitude; his successes inspire self-reliance -- W Matthews

It cannot be too often repeated that it is not helps, but obstacles, not facilities, but difficulties that make men -- W Matthews

Difficulties strengthen the  mind, as labor  does  the body -- Seneca

There is no merit where there is no trial; and till experience stamps the mark of strength, cowards may pass for heroes, and faith for falsehood -- A Hill

The  greater the obstacle, the more glory we have in overcoming it; the  difficulties with which we are met are the maids of honor which set off virtue -- Moliere

Difficulties show men what they are  - In case of any difficulty God has pitted you against a rough antagonist that you may be a conqueror, and this cannot  be without toil -- Epictetus 

Our energy is in proportion to the resistance it meets -- We attempt nothing great but from a sense of the difficulties we have to encounter; we preserve in nothing great but from a pride in overcoming them -- Hazlitt

There are difficulties in your path - Be thankful  for them -- they will test your capabilities of resistance; you will be impelled to  persevere from the very energy of the opposition -- But what of him that fails?  - what  does he  gain? Strength for life -- the  real merit is not in the  success but  in the  endeavor and win or lose -- he will be honored and crowned -- W M Punshon

"Tidbits From TNT" Friday 11-3-2023

TNT:

CandyKisses:  Iraq extends Russian Lukoil's contract for more than 20 years

Baghdad - Iraq Today:

The Russian company Lukoil announced on Thursday (November 2, 2023) the signing of a supplementary agreement with Basra Oil on the West Qurna 2 oil field, which included extending the service contract for a period of 10 years until 2045, and pumping investments for further development work and increasing production from the field.

The company's statement explained that the agreement will lead to a gradual doubling of the field's capacity to reach 800,2 barrels per day, which will allow to increase the economic efficiency of the West Qurna <> project.

He also noted that the field's development plan includes the operation of multi-well drilling rigs, the commissioning of oil and gas processing facilities to form the Yamamah and the construction of export pipelines.

CandyKisses:  Middle Eastern summit. The Elysee hosts today the Macron-Nechirvan Barzani meeting

Shafaq News / The Elysee Palace will host a meeting between French President Emmanuel Macron on Friday afternoon, and Kurdistan Regional President Nechirvan Barzani.

Today's meeting will be the first of its kind hosted by the Elysée between Macron and a Middle Eastern official and will include a consultation on the accelerating developments underway in Iraq, in light of the repercussions of the war between Israel and Hamas, which raises growing fears of its regional spread, also affecting Iraq.

On Thursday, Barzani arrived in Paris at an official invitation from French President Emmanuel Macron.

In turn, the Presidency of the Kurdistan Region explained in a statement that President Nechirvan Barzani will discuss during his meeting with President Macron at the Elysee Palace French relations with Iraq and the Kurdistan Region and the development of joint cooperation, and the situation in Iraq and the region in general.

It is noteworthy that this is the fourth official visit by Nechirvan Barzani since assuming the presidency of the Kurdistan Regional Government in its previous session, and the presidency of the region in its current session.

The French president was scheduled to visit Iraq to attend the "third Baghdad Conference", which was scheduled to be held at the end of October, but the postponement of its meeting until further notice prevented this.

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

Tishwash:  Macron will visit Iraq at the end of this month

The Ambassador of the Republic of Iraq to France, Wadih Batti, revealed that French President Emmanuel Macron will visit Iraq at the end of this November, indicating that this visit will be followed by a visit by the French Minister of Defense as well.

Ambassador Petit said, "We have an expected visit at the end of this month by French President Emmanuel Macron to Iraq, followed by the visit of the French Minister of Defense to Iraq," indicating that "all these events confirm that we are moving in the right direction by moving Iraqi and French relations to higher levels."

Wadih Batti explained that “a simple look at what happened during the past 10 months can give us an indication of the great escalation that occurred in Iraqi-French relations in general,” adding that “the visits taking place between the two countries are high-level visits, starting with the visit of the President The ministers went to Paris and signed the strategic partnership treaty, then the visit of the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, then the visit of the President of the Supreme Judicial Council, Faiq Zaidan, the visit of Foreign Minister Fouad Hussein, and the Minister of Justice Khaled Shawani, in addition to technical visits by Iraqi delegations to Paris, and 3 weeks ago there were We have an important visit from the Speaker of the Iraqi Parliament, Muhammad al-Halbousi, and today we receive His Excellency President Nechirvan Barzani.”

He pointed out that "this level of visits represented by the three Iraqi presidencies, in addition to the presidency of the Kurdistan Region and its government, indicates the presence of heat and tension in relations, and we have come a long way even in the field of strategic projects, including the project to sign the Total contract, and we have an important contract that will be signed with Thales this week." Next, in addition to major activities carried out by the French Development Agency in Iraq.”

He noted that "there is cooperation at the educational and university levels, and we signed 6 memorandums in the field of education and even in the field of integrity and drug control, diplomatic training and cooperation to train judges," pointing out that "all these steps mean that we are trying to give a dose to all aspects of the relationship."

Regarding Total, the Iraqi ambassador to France stated that “there were discussions, because it is not a small project, but rather includes 4 projects and its value is tens of billions of dollars, so it needs discussions, and there may be technical matters that were overcome in the dispute, and the agreement was signed.”

As for Mosul Airport or other projects, he said, “There is a great opportunity for French companies, and we indicated in the symposium that we held two weeks ago that the door is open and wide, and we encourage them to enter the Iraqi market and rearrange their cards in a way that enables them to compete with other companies that are entering.” Iraqi market.

French President Emmanuel Macron had previously visited Iraq in early September 2020, coming from Lebanon, on an official visit, and at that time Macron was the first head of state to visit Iraq since the formation of Mustafa Al-Kadhimi’s government.

French President Emmanuel Macron also visited Iraq in late August 2021. link

Mot: . Allllllll Toooooo Sooooooooon!!!! 

Mot:  . Ooooooooon Noooooooooo!!! 

Iraq Economic News and Points to Ponder Late Thursday Evening 11-2-23

Iraq Economic News and Points to Ponder Late Thursday Evening 11-2-23

Tlm724 Administrator Bondlady’s Corner

Hoarded Money And Stimulating Depositors

 Economic 11/01/2023  Yasser Al-Metwally   Official estimates indicate that 85 percent of the issued monetary mass, amounting to more than 100 trillion dinars, is outside the banking system and is called money hoarded outside banks.

 This means that this huge amount of monetary mass is disabled from performing its role in development, and since the banks are the driving tool for the wheel of development through their credit (lending) policies, they are unable to perform this role for this reason. Therefore, you find our economy unable to advance due to the decline in the development performance of the banks..

 Meanwhile, monetary policy is moving towards motivating the depositor public to deal with banks.

 The Central Bank’s latest circular last week urged banks to facilitate procedures and create incentives at attractive interest rates for the purpose of attracting depositors.

 What Is The Challenge Facing This Trend?

 The trust factor is the most difficult number and the basic indicator for the success of the process of attracting the public’s hoarded funds to deposit them in banks.

 Banks in all countries of the developed world are the primary engine of the economy through their role in implementing development through their lending policies that contribute to generating interest that accrues to depositors and bank owners with lucrative profits by investing money and making profits.

 They also contribute to the implementation of projects and thus contribute to the circulation of funds.

But the problem with Iraqi banks, in all frankness and transparency, is that they suffer from a loss of public confidence, which is a deep-rooted, inherited problem due to the actions of some banks due to the weakness of their management and the alienation of depositors from them.

 How Do We Restore Confidence In Light Of The New Trend?

 The public is looking for a guarantee (an insurance policy) in order to be encouraged to deposit their hoards, and  this requires facilitating deposits and withdrawals in an easy way without boring routine complications.

However, the poor banking behavior of some employees and the complexities of police-style instructions contribute to the public’s reluctance.

 (Insurance policy) means the body that officially guarantees the public’s deposits in the event of the collapse of a particular bank, and here comes the role of the Deposit Insurance Company, which was recently established for this purpose.

 Here I have an assessment of the Deposit Insurance Company, with all transparency and clarity, that its performance is weak, inactive, and unknown, and  it requires the formation of a regular and influential media unit to market its activity on an ongoing basis,

 and for the company to take the initiative to give guarantees to depositors by guaranteeing their money with a signed official paper distributed among all depositors in any bank, in light of which it bears responsibility. Legal information about deposit insurance, otherwise why was it established?

 Thus, it can provide partial security that encourages the public to deposit in banks and gradually restore confidence.

The fluctuation of the dollar exchange rate cannot be overlooked in creating chaos and mistrust.

But we are talking about the national currency, which is still strong, and there is no problem in depositing and withdrawing it with the company’s guarantee.  https://alsabaah.iq/86507-.html

This Month...The Central Bank Launches The Financial Sustainability Map

 The second and third 11/02/2023    Baghdad: Rula Wathiq   This month, the Central Bank launches a financial sustainability map in cooperation with international institutions.

 Bank Governor Ali Al-Alaq told Al-Sabah:

 The map, which is based on financial sustainability, was designed to manage environmental and social risks, noting that it will clarify the directions that the bank will take related to the awareness and educational aspect, as well as risk management and sustainable financing.  He pointed out that

the map will support financial inclusion, including the Bank’s initiatives in supporting small and medium enterprises that are being adapted or pushed towards being consistent with what we aspire to, taking into account the environmental and social aspects, pointing out that

 Iraq can address the backwardness of industry, agriculture, and the economy by developing them according to modern foundations and standards using methods.

Which leads to achieving this purpose.  Al-Alaq pointed out that  the factors for regulating trade are not achieved with the diversification of the economy and the provision and support of projects that operate within this framework, with the presence of chaos in them and the lack of control over this large activity that is drowning the country, undermining the opportunities for growth and development, and expanding the production base in a large and frightening manner, in addition to the fact that it introduces a lot of Goods that lack many health and environmental specifications and standards. 

He added that financing is a complementary link when appropriate conditions are available, as happened with the launch of an initiative to lend for the use of clean energy, especially at the household level in the use of solar cells, indicating that we do not find any interest in this initiative, which forces us to review other factors related to the awareness process, as The vast majority of citizens do not have an adequate understanding of the benefits these cells bring on the personal and environmental levels.

 https://alsabaah.iq/86616-.html

The Financial Intermediary And Its Importance In The Modern Economy

 News source/ newsroom   The financial intermediary is one of the basic elements in the modern financial system, as it mediates between investors and dealers in the financial markets.

The financial intermediary plays a vital role in facilitating financial operations and balancing the supply and demand of financial resources.

The functions of a financial intermediary include providing various financial services, such as brokering purchases and sales, providing financial advice, managing investment portfolios, executing orders, issuing securities, and providing economic and financial research and analysis.

The ADSS trading broker acts as a link between investors and dealers, as it contributes to facilitating and organizing buying and selling operations and directing funds to appropriate investment channels.

Types of financial intermediaries range from banks and investment companies to brokerage firms, investment funds and financial agencies.

The financial broker is considered to have experience and deep knowledge of financial markets and various financial products, which enables him to provide financial and investment advice to investors and provide specialized financial services according to their individual needs.

The importance of the financial intermediary in the modern economy is invaluable, as it contributes to enhancing trust and transparency in financial markets and achieving financial stability.

 A financial intermediary acts as a neutral intermediary between different parties, protecting the interests of investors and ensuring that transactions are executed with credibility and integrity.

Thanks to the role of financial intermediary, financial markets are stimulated and their liquidity increases, which enhances economic development and contributes to job creation and investment development.

A financial intermediary also provides opportunities for investors to access global financial markets, diversify their investment portfolios and achieve financial returns.

In other aspects, the financial intermediary plays an important role in directing savings and available funds towards the most effective investments suitable for investors' goals.

 The financial intermediary provides financial analyzes and recommendations based on research and accurate financial information, which helps investors make informed and informed investment decisions.

In addition, the financial intermediary provides protection and guarantees to traders in the financial markets.

 A financial intermediary uses financial tools and mechanisms to reduce risks and protect investors from severe market fluctuations, manipulation and financial fraud.

In general, the importance of the financial intermediary can be summarized in the following points:

1. Facilitating financial operations: The financial broker facilitates buying and selling operations and executing financial orders smoothly and effectively, which saves time and effort for investors.

2. Providing specialized financial services: The financial broker provides various financial services, such as financial consulting and investment portfolio management, which helps investors achieve their financial goals.

 3. Increase transparency and trust: The financial intermediary works to improve the transparency of financial markets and provide accurate and reliable information to investors, which enhances confidence and protects their rights.

 4. Achieving financial stability: The financial intermediary plays a role in achieving financial stability by regulating buying and selling operations and monitoring manipulation and fraud in the financial markets.

 5. Enabling access to investment opportunities: The financial intermediary helps investors access investment opportunities available in local and global financial markets, which contributes to diversifying investment portfolios and achieving financial returns.

 In short, the financial intermediary is an essential element in modern financial markets, playing a vital role in facilitating financial operations, achieving financial stability and protecting investors' rights. By providing specialized financial services and providing...    https://iraqakhbar.com/4097094

Iraq Stops Burning 270 Million Feet Of Gas Within A Year: We Will Be An Exporter Within 6 Years

 Economy |Yesterday, 19:02 |  Baghdad today – Baghdad   Oil Minister Hayan Abdul-Ghani Al-Sawad confirmed today, Wednesday (November 1, 2023), that investing all of the national gas is one of the government’s priorities and we hope that we will be a gas exporting country after six years.

 Al-Sawad said in a statement received by “Baghdad Today” that

 “the ministry was able to invest 270 million cubic feet of gas within a year of the current government’s life,” considering that “one of the government’s most important priorities is gas investment, and

there is a well-thought-out plan to invest it in the associated and free gas levels.”.  Al-Sawad explained,

 “Prime Minister Muhammad Shiaa al-Sudani is pushing towards increasing local gas production and reducing imported gas through a plan prepared for that, and

 the ministry is working through this plan for the purpose of its gradual completion, as

 we want to move as quickly as possible for the purpose of investing gas in oil fields or gas fields that will witness The coming period is an investment for it.” 

Al-Sawad added,   “The Ministry of Oil was able to implement strategic projects related to gas, most of which were in Basra and the Halfaya field in Maysan, in addition to the Akkas field in Anbar, from which the Ministry worked to invest gas in good quantities after a Korean company withdrew before taking over the current government, as we were able to proceed with partial gas investment from The field reaches 60 million cubic feet and will then be used to operate the Akkas Electrical Station, which lacked gas, which contributed to generating electrical energy and connecting it to the national grid to increase processing hours for citizens.

He explained that  "all the prepared plans aim to reduce the import of gas from the Republic of Iran and other countries from which Iraq buys varying quantities," noting that

 "the primary goal of the government and the ministry is for the country to be a gas exporter within the next six years, and this is what is being worked on according to plans." Government and ministerial strategy.

 https://baghdadtoday.news/234622-العراق-يوقف-حرق-270-مليون-قدم-من-الغاز-خلال-سنة-سنكون-مصدرين-خلال-6-سنوات.html

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

https://www.bondladyscorner.com/

Provoking Points to Ponder on Riches & Wealth:

No man can tell whether he is rich or poor by turning to his ledger.  It is the heart that makes a man rich. He is rich according to what he is, not according to what he has. -- H W Beecher

The use we make of our fortune determines as to its sufficiency.  A little is enough if used wisely, and too much if expended foolishly. -- Boovee

Worldly riches are like nuts; many clothes are torn in getting them, many a tooth broken in cracking them, but never a belly filled with eating them. -- Venning

Riches do not delight us so much with their possession, as torment us with their loss. -- Gregory 

 As riches and favor forsake a man we discover him to be a fool, but nobody could find it out in his prosperity. -- Bruy'ere

Worldly wealth is the devil's bait; and those whose minds feed upon riches, recede in general from real happiness, in proportion as their stores increase; as the moon, when she is fullest of light, is farthest from the sun. -- Burton

Wealth is like a viper, which is harmless if a man knows how to take hold of it; but if he does not, it will twine round his hand and bite him. -- St Clement

Money and time are the heaviest burdens of life, and the unhappiest of all mortals are those who have more of either than they know how to use. -- Johnson

There is no society, however free and democratic, where wealth will not create an aristocracy. -- Bulwer 

Riches are gotten with pain, kept with care, and lost with grief.  The cares of riches lie heavier upon a good man that the inconvenience of an honest poverty. -- L'Estrange

MilitiaMan and Crew: Progression - Iraq Dinar - World Trade Organization - International Iraq Dinar - Internal - External

Progression - Iraq Dinar - World Trade Organization - International Iraq Dinar - Internal - External

MilitiaMan and Crew:  11-3-2023

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=lJb6CIF1O7Y

Goldilocks' Comments and Global Economic News Thursday Evening 11-2-23

Goldilocks' Comments and Global Economic News Thursday Evening 11-2-23

Good evening Dinar Recaps,

"India Paves the Way for Foreign Listing of Public Companies"

India is leading the way on getting their public companies listed in foreign exchange markets.

The Ministry of Corporate Affairs is currently notifying some of their companies and securities that they can list overseas.   Look for other countries to do the same.

© Goldilocks

https://www.arabianbusiness.com/markets/india-to-allow-certain-public-companies-to-list-directly-on-foreign-stock-exchanges

~~~~~~~~~~

"The New Development Bank Bill, 2023 was passed in parliament on Wednesday to welcome funds from the lending arm of BRICS."

Although this bill still needs to be ratified, the New Development Bank is well on its way to being able to lend money to those who join the BRICS Nations such as Bangladesh.

© Goldilocks

https://www.newagebd.net/article/216581/new-development-bank-bill-2023-passed-in-js-to-get-brics-funds

~~~~~~~~~~

US House passes bill on aid to Israel, but not Ukraine

The Republican-led House of Representatives approved a $14.3 billion military aid measure for Israel without mentioning Ukraine, despite a veto threat from President Biden.

Besides no aid for Kiev, the legislation also includes cuts to the Internal Revenue Service's tax enforcement initiative – part of the Inflation Reduction Act that is a key part of Biden's agenda.

The bulk of the money in the GOP bill would go to help Israel replenish and bulk up its weapons systems, including $4 billion for the Iron Dome and David's Sling missile defense systems. The measure also includes $200 million for the protection of US personnel and evacuation of American citizens.

Notably, it completely omits humanitarian aid for Gaza.

Follow us on Telegram and Twitter

~~~~~~~~~~

As Washington looks to hand over $14 billion to Israel, the number of recurring applications for unemployment benefits in the US has risen for the sixth straight week, indicating that those who have lost their jobs are starting to have more trouble finding new ones.

Click here Twitter

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Thank you Dinar Recaps  --  www.DinarRecaps.com

Iraq Economic News and Points to Ponder Thursday Afternoon 11-2-23

Iraq Economic News and Points to Ponder Thursday Afternoon 11-2-23

Tlm724 Administrator Bondlady’s Corner

The American Ambassador: We Are In Iraq To Ensure Its Stability

Political | 06:40 - 02/11/2023  Mawazine News – Baghdad  US Ambassador Alina Romanski confirmed that the presence of the United States in Iraq will help it defeat terrorism and ensure its stability.

The media office of the head of the Victory Coalition, Haider Al-Abadi, said in a statement received by Mawazine News, “Today, Thursday, Al-Abadi received the Ambassador of the United States of America to Iraq, Alina Romanski, to discuss the overall situation in Iraq and the region, and the recent attacks of the Zionist aggression against the Palestinian people.”

The statement added, "Al-Abadi condemned the clear bias in favor of the Israeli entity and condoning the crimes taking place against civilians in Gaza, calling on the international community to play its supposed humanitarian role and help the people."

For her part, Ambassador Romanski stressed that "the presence of the United States is focused on helping Iraq against terrorism and ensuring its stability."

https://www.mawazin.net/Details.aspx?jimare=237200

The Foreign Exchange Shock...Signals For Correcting The Macroeconomic Policy Perspective

Dr. Haitham Hamid Mutlak Al-Mansour   In light of the new shock of the rise in the dollar exchange rate from its target level beyond the threshold of 1,600 dinars per dollar in the parallel market at the beginning of the last quarter, and the resulting rise in the general level of prices, the Iraqi dinar began to suffer a significant decline in its real value, causing a decline in income levels.

The real value of individuals and economic units , and with increasing expectations that the gap between the actual and target prices will continue to widen, the foreign exchange movement and the repeated shocks it is exposed to are an important input into analyzing the reality of the monetary economy and macroeconomic policy, through the following axes:

The duality of the price system and the restriction of public spending in the absence of traditional economic balance, as economic activity suffers from real problems in its internal structure that are reflected in the method of managing the exchange rate and choosing the appropriate system to manage it, and the accompanying outcomes of this duality of economic restrictions that work to unsustain the stability of the exchange rate within the target.

This includes the decline in the effectiveness of macro policy in achieving its goals of stabilizing the general level of prices and economic growth.

The increased flexibility of financial transfer channels used in foreign trade in light of the obsolescence of financial transfer channels, which creates difficulty in managing the supply of the dollar, reducing demand for it and lowering the actual exchange rate. Therefore, the technical limitation of the tools of state authority over dollar flows is one of the real challenges to the financial situation in Iraq.

The policies of the US Federal Bank, and the package of financial, monetary and commercial conditions that the government and the central bank are required to implement in order to reduce the severity of the smuggling or exit of the dollar to countries besieged by economic sanctions.

The decline in the efficiency of fiscal and tax policy tools on foreign trade outlets, which allows two negative movements to occur against the rhythm of adjusting the dollar currency and the exchange rate:

Dumping policies followed by the blockading countries increase the demand for the dollar.

The exit of a large proportion of the monetary dollar mass of the aforementioned countries.

Decreased compliance of some banks with financial and monetary control tools in a way that reduces the ability of monetary policy to control the pace of financial transfer and the sale of the dollar.

Weak outcomes of coordination between fiscal and monetary policies: The failure to implement laws supporting the trade protection policy, including the customs tariff law, the local product protection law, the competition and antitrust law, and the consumer protection law, which are considered among the most important steps for the effectiveness of monetary policy and enabling it to perform its functions towards the goal of stability at the general level. For prices.

The fluctuation of the flow of dollar revenue receivables for oil exports from Iraq's credit account and the occurrence of some bottlenecks that negatively affect the supply of the dollar.

Therefore, the continued exposure of the market to the fluctuations of foreign exchange shocks shows a decline in the degree of responsiveness of the exchange system to monetary policy tools. If the exchange rate continues to move beyond the 1600 threshold, inflation is expected to have a greater impact on the income cycle, the behaviors of economic units, and the movement of consumption, investment, and saving than it does .

This leads to a re-evaluation of their balance sheets according to changes in inflation. This will reflect on all aspects of economic life, as the continued rise in inflation means the dominance of inflationary expectations that fuel other rises, which deepens the problem.

Despite the multiple and continuous measures taken by the Central Bank to restrict the movement of the dollar around the target and raise the exchange system’s response to its monetary tools, the inflation index is still high, which means that the response is still low, due to the fact that the economy needs a combination of several policies in order to calm and stabilize inflation at the target.

Therefore, the monetary authority alone cannot be able to contain the scope of the problem, but rather requires coordination with other relevant policies, to correct the degree in the perspective of macroeconomic policies and adopt a government plan with a short-term path and the other with a medium-term path that limits recurring shocks and achieves the goal of reducing the exchange gap between the actual and target rates. According to the following indications:

Reducing the demand gap for the dollar, by creating effective alternatives to achieve a balance between the supply of the dollar and the demand for it, in light of auditing and examining the movement of transfers via documentary credits according to the electronic platform and auditing the movement of the cash dollar.

Developing the performance of the financial policy arms through tightening the ports of foreign trade movement and examining and organizing import operations with customs controls and regulations that would limit the phenomenon of commodity dumping, including increasing import flexibility towards the goods of the besieged countries, to support the local product, or to divert part of the trade away from those countries.

Then, work to reduce the impact of the external variable by increasing response to the Federal Reserve’s policies and the package of financial conditions proposed to the government to restrict dollar smuggling activities and enhance the transparency of international transfer activities.

Maintaining the flow rate of oil revenue receivables within its normal rate from Iraq’s credit account to avoid recurring bottlenecks, by reorganizing the practical perspective of macroeconomic policy and the Federal Reserve’s policy.   11/02/2023 - https://economy-news.net/content.php?id=37222

Increased Revenues From Iraqi Oil Exports To Europe

Energy   Economy News _ Baghdad   Iraqi oil export revenues to Europe witnessed an increase in October (2023), by about $505 million, compared to revenues recorded in September of $1.54 billion.

The revenues generated from the sale of Iraqi oil to Europe during the month of September fell by about 570 million dollars, compared to the revenues recorded in the previous August, which amounted to about 2.11 billion dollars, according to monthly statistics published by the Iraqi Oil Marketing Company "SOMO." .

Statistics revealed that the total revenues of Iraqi oil exports during last October recorded $9.669 billion, compared to $9.494 billion recorded in September.

Revenues From Iraqi Oil Exports To Europe In October

During the month of October 2023, revenues from Iraqi oil exports to Europe amounted to about $2.045 billion, higher than the revenues of the previous September, which amounted to $1.54 billion, by more than half a billion dollars.

It is noteworthy that revenues for the month of August 2023 achieved about $2.11 billion, while revenues in July recorded about $1.6 billion, according to the specialized energy platform.

The quantities of Iraqi oil exported to European markets in October 2023 amounted to about 23.8 million barrels, an increase of 7.2 million barrels over the quantities exported during the month of September, which amounted to about 16.6 million barrels.

It is noteworthy that the total revenues from Iraqi oil exports to Europe recorded, during the first nine months of this year, about 12.46 billion dollars, in the period between January (2023) and September, and by adding the revenues of October, the total Revenue towards. $14.5 billion.

The Volume Of Iraqi Exports To Europe:

Last October witnessed the export of about 23 million 812 thousand 198 barrels, compared to exports last September, which amounted to about 16 million 568 thousand 311 barrels, while the price of a barrel of Iraqi oil reached about 85.86 dollars. , compared to $93.23 during September.

The price of a barrel of Iraqi oil was recorded last August at about $81.66, but the volume of exports this month amounted to 25 million 842 thousand and 614 barrels, an increase of more than 9 million barrels over September, according to the specialized energy platform.

In July 2023, the quantities of Iraqi oil exported to Europe recorded approximately 20 million 505 thousand and 964 barrels, with an average price of approximately 78.53 dollars per barrel, meaning exports recorded approximately 1.61 billion dollars.

In June, Iraqi oil export revenues to Europe were about $1.07 billion, with the volume of exports reaching 15,734,19 barrels, while the average price of a barrel of Iraqi oil in that month was about $67.84.

The volume of Iraq's exports to Europe in May was 21 million, 402,379 barrels, with an average price per barrel of 66.03 US dollars, bringing revenues from Iraqi oil exports to Europe to about 1.41 billion dollars.

Iraq has been working to increase oil exports to the European market for about 12 months, with the aim of achieving great benefit from oil revenues to develop and maximize Baghdad’s financial resources, in addition to opening new markets and enhancing the spread of Iraqi oil in global markets.

Views 68    11/02/2023 - https://economy-news.net/content.php?id=37208

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

https://www.bondladyscorner.com/

Provoking Points to Ponder From The Seat of the Soul By Gary Zukav:

You create your  reality with your intentions 

An intention is a quality of consciousness that you bring to an action

At each moment you choose the intentions that will shape your experiences and those things upon which you will focus your attention -- If you choose unconsciously, you evolve unconsciously -- If you choose consciously, you evolve consciously 

Every action, thought, and feeling is motivated by an intention -- and that intention is a cause that exists as one with an effect -- If  we participate in the cause - it is not possible for us not to participate in the effect -- In this most profound way - we are held responsible for our every action , thought, and feeling, which is to say, for our every intention

From the perception of the five sensory human, intentions have no effects, the effects of actions are physical, and not all actions affect us or others -- From the perception of the multi sensory human -- the intention behind an action determines its effects, every intention affects both us and others -- and the  effects of intentions extend far beyond the physical  world

Goldilocks' Comments and Global Economic News Thursday AM 11-2-23

Goldilocks' Comments and Global Economic News Thursday AM 11-2-23

Good morning Dinar Recaps,

"The New Development Bank Bill, 2023 was passed in parliament on Wednesday to welcome funds from the lending arm of BRICS."

Although this bill still needs to be ratified, the New Development Bank is well on its way to being able to lend money to those who join the BRICS Nations such as Bangladesh.

© Goldilocks

https://www.newagebd.net/article/216581/new-development-bank-bill-2023-passed-in-js-to-get-brics-funds

~~~~~~~~~~

The global standard-setters have declared that no current stablecoin satisfies all pertinent regulatory mandates and that even if a fully compliant stablecoin were to emerge, its efficacy in enhancing cross-border payments remains questionable.

This revelation is like to be a topic of discussion at Benzinga's Future of Digital Assets conference on Nov. 14.
Benzinga Link 

~~~~~~~~~~

Gold prices will rise in 2024 from this year’s average on bets that global central banks would start monetary policy easing and after the Middle East conflict provided a boost to gold’s safe-haven rally above $2,000, a Reuters poll showed on Wednesday.

https://www.reuters.com/article/metals-precious-gold-idUSKBN31W2U3

~~~~~~~~~~

Biden's Executive Order on AI Set to Transform Cryptocurrency Market
The Currency Analytics Link

~~~~~~~~~~

Banking Announcement:

UK Confirms Plans to Implement New Rules for Crypto, Stablecoin

ByEditors, Regulation AsiaPublished on 1st November 2023

Treasury says the government aims to have legislation for the new regime before Parliament in 2024.

https://www.regulationasia.com/uk-treasury-confirms-plans-to-implement-new-crypto-rules/

~~~~~~~~~~

ANNA ISINs, and The Digital Token Identifier Foundation (DTIF) have entered a joint Memorandum of Understanding (MoU).

The MOU will allow the phased introduction of new ISINs to identify crypto assets.
AssetServicingTimes Link

~~~~~~~~~~

Global watchdog: Stablecoin cons outweigh pros for cross-border transactions
https://crypto.news/global-watchdog-stablecoin-cons-outweigh-pros-for-cross-border-transactions/

~~~~~~~~~~

Healthcare payments company Waystar has postponed its initial public offering, according to a source familiar with the matter, as market turmoil in the United States threatens to derail a recovery in new stock listings.

The company will revive its IPO efforts in December at the earliest but is more likely to wait until 2024, said the source, who requested anonymity to discuss confidential information.

https://www.reuters.com/markets/deals/waystar-delays-ipo-until-december-or-2024-wall-street-journal-2023-10-31/

~~~~~~~~~~

"India Paves the Way for Foreign Listing of Public Companies"

India is leading the way on getting their public companies listed in foreign exchange markets.

The Ministry of Corporate Affairs is currently notifying some of their companies and securities that they can list overseas.

Look for other countries to do the same.

© Goldilocks

https://www.arabianbusiness.com/markets/india-to-allow-certain-public-companies-to-list-directly-on-foreign-stock-exchanges

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Thank you Dinar Recaps   --  www.DinarRecaps.com

Iraq Economic News Highlights and Points to Ponder Thursday AM 11-2-23

Iraq Economic News Highlights and Points to Ponder Thursday AM 11-2-23

Washington's Federal Cloak Controls Baghdad.. Will Iraq Join The BRICS Group?

Posted On2023-11-02 By Sotaliraq  When Prime Minister Muhammad Shiaa Al-Sudani expressed, earlier, Iraq’s readiness to join the BRICS group if it received an official invitation to do so, will Baghdad be able to escape from Washington’s federal “cloak” and launch diplomatic efforts to join it?

The BRICS group includes China, India, Russia, Brazil, and South Africa. The first four countries are among the fastest growing economies. They seek to get rid of Western hegemony and the control of the dollar, and encourage dealing in local currencies in commercial exchanges.

As of next year 2024, Saudi Arabia, the Emirates, Egypt, and Argentina will be accepted for membership. , Ethiopia, Iran, and the writer and political analyst, Omar Al-Nasser, said in an interview with (Al-Mada), “The situation in Iraq is very different and cannot be compared with those countries that have full sovereignty, so it cannot join the BRICS group so easily.”

Management and planning

He adds, “International factors and the threads of regional extensions that exist deep inside Iraq are still affecting the political decision in light of the lack of cohesion, harmony, and long-term strategic alliances between the political forces holding power, in addition to poor management and planning, weak foreign policy, and the lack of access to positions for those with experience.” That achieves qualitative goals.”

Washington's "cloak"

Al-Nasser continues his speech, via (Al-Mada), that “the strategic framework agreement with the United States, the Iraqi oil money remaining within the US Federal Reserve, the lack of alternative strategies that achieve the policy of filling the vacuum for oil money, and Washington’s vision of not withdrawing its hand from Iraq will prevent a lot of it from joining the BRICS group in the long term.” “In the near future, especially since there is a common international vision that Iraq must be a completely stable country in a region full of disputes and political conflicts.”

Beijing’s “weapon.”

For his part, the specialist in financial and banking affairs, Mustafa Hantoush, said in an interview with (Al Mada), “The BRICS group is a group of economically developing countries, and there are 22 countries that have applied to join, in addition to 40 countries interested in doing so.”

He adds, “BRICS is a weapon under the hand of China, and the intention of this group is to create an economic currency among member states in trade exchanges.”

Hantoush explains, “All the countries joining it are unable to pump money, create a currency, or manage global trade.”  LINK

Dollar Mafias" Manage The Iraqi Market With A "Whatsapp Group"... And Demands For Urgent Government Intervention

Local / Economy | Baghdad today - Baghdad   Member of the Parliamentary Finance Committee, Jamal Cougar, revealed that a group of mafias and influential people controlled the dollar exchange rate through a “WhatsApp group.”

Cougar indicated in a televised interview followed by “Baghdad Today” that “there is a (group) on WhatsApp run by a group of influential people or mafias who control the exchange rate of the dollar in the parallel market,” calling on the security services from the intelligence and national security to intervene and follow up on the matter.”

A member of the Parliamentary Finance Committee confirmed that “personalities working in the stock exchanges referred to this (group) and demanded that the matter be conveyed to the relevant authorities to take urgent measures.”

On (last October 8), the expert in banking affairs, Ahmed Al-Tamimi, criticized the Iraqi Banks Association for not taking any position on what some private banks are working on to illegally acquire the dollar.

Al-Tamimi told “Baghdad Today” that “some private banks are working to illegally seize the dollar. They take the share of the traveling citizen and do not give it to him. Also, some banks refuse to hand over to the citizens the remittances that reach them in dollars, and all of this violates the law.”

The expert in banking affairs stated that “the Iraqi Banks Association bears a large part of the illegal behavior that is happening in some private banks, especially since it has not yet taken any role from those banks. Rather, it remains silent and tries to evade its role in following up on the work of those banks.” ".

 Meanwhile, economic expert Sarhang Hussein earlier accused the Association of Private Banks of being behind the rise in dollar exchange rates in the parallel (black) markets.

Hussein told "Baghdad Today", "The process of buying the dollar with cards by merchants and giving it to private banks is behind the rise in the dollar exchange rate again."

It is noteworthy that the exchange rate of the dollar in the parallel (black) markets has risen again, as the markets recorded 163,000 dinars for every 100 dollars, despite the fact that the Central Bank sells it for 1,320 dinars.  LINK

Parliamentary Finance Warns Of “Very Negative Repercussions” As The Dollar Continues To Rise

Time: 11/02/2023 Read: 169 times   {Local: Al-Furat News} Baghdad Governorate is working with the Ministry of Education to end the issue of caravan schools, by providing the necessary lands to establish new schools on them, stressing the capital’s need for 1,000 schools in the center and peripheries.

Ali Jabbar Mu'nis told Al-Furat News Agency, "The issue of rising parallel exchange rates has become exhausting for the Iraqi street and is a factor of weakness for the government."

He added, "If the government is unable to address this issue, it will have a negative impact on its performance, especially since the difference between the official and parallel prices is large."

Mu'nis pointed out, "The government deals at the official price of 1,320 dinars, while its price in the parallel market is much higher. There must be a deal and agreement with the US Federal Bank and address this matter because its repercussions are very negative."

Advisor to the Prime Minister, Fadi Al-Shammari, revealed that Prime Minister Muhammad Shiaa Al-Sudani will soon announce a new banking service for small merchants that will lead to a decrease in the exchange rate and facilitate their work procedures.

Al-Shammari said in a televised statement, “Those who manipulate the dollar are speculators, and the government provides the dollar through official platforms, and the government is not subject to blackmail by speculators who seek profit at the expense of citizens.” From.. Raghad Dahham   LINK

Parliamentarian: We Need More Time To Pass The Oil And Gas Law

Information / Baghdad..  Kurdistan Democratic Party MP Sharif Suleiman confirmed on Thursday that Parliament will need a lot of time and discussions to mature the oil and gas law in a way that serves all governorates and is consistent with the constitution.

Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..

Suleiman told Al-Maalouma, “Resolving the oil and gas law is not limited only between the center and the region, but rather it concerns Iraq in general, as the region hopes to speed up the approval of this important law for everyone.”

He added, "The oil and gas law must be enacted in accordance with the constitution and the entitlements of each governorate, without any violation of the applicable law and constitution, in order to guarantee the entitlement of each governorate with regard to natural resources."

He stated that "the aforementioned law, due to its great importance, will witness many discussions and sufficient time within Parliament in order to mature the law in a way that serves everyone, before proceeding with its legislation, especially since the political document has confirmed the legislation of this law." LINK

The Oil And Gas Law Enters A Hibernation Phase Until The End Of The Local Elections

The Oil and Gas Law has entered a dormant phase until the end of the provincial council elections, amid confirmations of the existence of studies of the various opinions submitted by the provinces, including the region, to the government committee formed to complete the law and present it in the optimal manner to Parliament in order to vote on it and guarantee the rights of all provinces.

At a time when some reservations prevail on the part of the region, which it is hoped will be accomplished through intensifying meetings between the delegations of Baghdad and Erbil after the completion of the local elections scheduled for next December.

The representative of the Kurdistan Democratic Party, Sharif Suleiman, said in a press interview seen by “Taqaddam” that “the oil and gas law is still with the government committee formed to consider this law, as the governorates presented their opinions and proposals about it and what should be included within the law,” pointing out that “the region Kurdistan submitted a proposed law to the formed committee.”

He added, “The State Administration Coalition presented 5 proposals, and the small committee formed is concerned with studying the proposals in order to find rapprochement and consensus between the parties that submitted proposals regarding the law, despite the lack of consensus on a specific proposal at the present time.”

On the other hand, the Chairman of the Parliamentary Regions Committee and a member of the negotiating delegation, Shirwan Al-Dobardani, said in a press interview seen by “Taqaddam” that “the delegations of the region and the center agreed to stop meetings between the two parties until the completion of the provincial council elections.”

He added, “The negotiations will resume once the results of the local elections are announced, especially since the meetings of the two delegations have come a long way and there is interaction and a desire to approve the law early next year.”

On the other hand, the representative of the Sadiqoun parliamentary bloc, Suhaila Al-Sultani, confirmed in a press interview seen by “Taqaddam” that “there is continuous work between the various political parties in order to resolve the file of the oil and gas law, finalize it, and hand it over to the House of Representatives to include it on the agenda of one of the sessions for the purpose of Discuss, read and vote.”

He added, “Even if political confusion occurred over this law, it is considered one of the very important laws for the Iraqi people, and the public interest requires that it be passed within Parliament through consensus among the representatives.” https://takadum-news.com/archives/190225#hathalyoum

For Less Than 12 Dollars...Iraq Reveals The Average Selling Price Of Oil Exported To Jordan

2023-11-02 Shafaq News/ The Iraqi Oil Marketing Company "SOMO" announced on Thursday that the average selling price of crude oil exported to Jordan reached $75.5 during last October.

Thus, Iraq sold one barrel of crude oil to Jordan last month for less than $12, compared to the official selling price announced by the Ministry of Oil of $88.26, according to statistics issued by SOMO.

SOMO said in statistics on its website, which Shafaq News viewed, that "the total oil exports to Jordan during the month of last October amounted to 464,728 barrels," indicating that "the export rate reached 15,000 barrels per day."

The Iraqi Oil Marketing Company added that "the average price of a barrel sold to Jordan reached $75.5," noting that "the value of imports from Jordan's oil exports during one month amounted to about $35 million."

It is noteworthy that Iraqi oil exports to Jordan have risen to about 15 thousand barrels per day, under an agreement updating the previous agreement, which required the sale of 10 thousand barrels per day of Iraqi oil to Amman, at prices about 16 dollars less than the price of a barrel during the month. LINK

Al-Karaawi: America Is Punishing Iraq Economically And Putting Pressure On Its Government To Stop Resistance Strikes

Information / Baghdad...  Hussein Al-Karaawi, a member of the organizing committee for the Belt and Road Initiative, confirmed on Thursday that America is punishing Iraq economically and financially and is pushing for it not to join the Chinese Belt and Road project, at a time when it continues to pressure the government to stop the movements of the Axis of Resistance against its forces.

Al-Karaawi told Al-Maalouma, “America is putting pressure on Iraq and its government in order to keep it isolated from the events taking place in the region, most notably the Zionist attacks and massacres against the Palestinian people.”

He added, "Washington continues its movements with the aim of distancing the axis of resistance from confronting the occupation and keeping it outside the ongoing conflict in the region, as it realizes the strength of the resistance factions, their capabilities, and what they can do against the occupation."

He stated, "Iraq is not far from the circle of American sanctions. Rather, it is currently being punished by the American side, which controls Iraqi money, the dollar, and trade, and stands up to it to ensure that it does not enter into the Chinese Belt and Road project and the Chinese agreement, which brings great gains to Iraq." LINK

Provoking Points to Ponder on Endurance & Perseverance:

The  virtue lies in the struggle not in the prize -- Milnes

Perseverance and audacity generally wins -- Mad. Deluzy

There is no royal road to anything -- One thing at a time - and all things in succession -- That which grows slowly endures -- J G Holland

There are two ways of  attaining an important end -- force and  perseverance -- Force fails to the lot only of the privileged few - but austere and sustained perseverance can be practiced by the most insignificant -- Its silent power grows irresistible with time -- Mad. Swetchine

The conditions of conquest are always easy -- We have but to toil awhile  - endure a while - believe always and never turn back -- Simms

I hold a doctrine - to which I owe not much - indeed - but all the little I ever had - namely - that with ordinary talent  and extraordinary perseverance - all things are attainable -- T F Buxton

The nerve that never relaxes - the eye that never blenches - the  thought that never wanders -- these are the masters of victory --  Burke

Hasten slowly - and  without losing heart - put your work twenty  times upon the  anvil --Boileau

Perseverance gives power to weakness - and opens to poverty the  world's wealth -- It spreads fertility over the barren landscape - and bids the  choicest fruits and flowers spring  up and  flourish  in the desert abode off thorns and briers -- S G Goodrich