MilitiaMan: Iraq Dinar - Monetary - Sovereignty - Commercial - International Companies

Iraq Dinar - Monetary - Sovereignty - Commercial - International Companies

MilitiaMan and Crew:  12-1-2023

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=ss_9gzK2B2Y

Iraqi News Highlights and Points to Ponder Friday AM 12-1-23

Iraqi News Highlights and Points to Ponder Friday AM 12-1-23

A Government Advisor Explains The Reasons For The Delay In Stabilizing The Exchange Rate In The Market

Economy  2023-11-30  Today, Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified the priorities of the national project launched by Prime Minister Muhammad Shiaa Al-Sudani to protect the standard of living and end the influence of the informal market, while explaining the reasons for the delay in stabilizing the exchange rate in the market.

Mazhar Muhammad said, in a press interview, “Although the analysis of the main reasons for the continuation of the phenomenon of the exchange rate in the secondary market, which is witnessing fluctuations that are not commensurate with the strength of Iraq’s vast international reserves, in which the Central Bank of Iraq platform is responsible for financing external transfer requests from foreign currency that is specifically used For the purposes of financing foreign trade for the private sector,

however, it is still the subject of due diligence in organizing external transfer requests at an exchange rate of 1,320 dinars per dollar on the part of banks that is not commensurate with international compliance standards.”

He added, "Some of them have not reached the level of interest required globally because they mediate in the purchase of foreign currency for the benefit of the commercial community, some of which are subject to rejection. This accumulates a surplus demand that may find its way to financing and illegally towards the informal secondary market for exchange, which is a market that does not constitute... "Only 10% of the foreign currency supply, in addition to it being an illegal market and leaving colored noise on the stability of the exchange rate."

He continued: “Today, economic policy is responsible for following additional import windows for basic commodities and maintaining their stable and financed prices at an exchange rate of 1,320 dinars per dollar, and at the forefront of that is adopting a policy of defending price stability towards providing an additional commodity supply with a stable price, and in a national project launched by the Prime Minister.”

To protect the standard of living in a way that removes the real income of the citizen from the price noise of speculative forces in the illegal exchange market.

He pointed out that "one of the priorities of this project is the launch of the government trade arm, in cooperation with the national private sector, by providing 4 additional baskets to strengthen the commodity supply, which extend between food (in addition to the food basket), the pharmaceutical basket, the building supplies basket, and the basket of widely used reserve materials, especially related to the transportation sector and others." ".

He added: “Since the demand for foreign currency is a demand for foreign goods, services and benefits that take place outside the country (and not inside it as dollarization does and its harmful effects on the stability of the monetary system), the Iraqi monetary policy is working hard to address the problems of financing foreign trade.”

“The country has strong currencies that are stable in their exchange rates and at the same time adhere to the principles of international compliance and combating money laundering, in order to facilitate trade and investment relations between Iraq and its trading partners around the world.”

He pointed out that “these strong policies all provide a protective umbrella for economic stability, end the role of the irregular and illegal market, and distance their effects from price stability in a sustainable manner, as all of these policies work within the lofty goal of protecting Iraq’s monetary sovereignty and ending the use of foreign currencies in evaluating internal transactions.”

And keeping it away from the payments system and its operations within the national economy, which is a legacy that has extended since 1982, as dealing with the dollar internally in settling or paying for the buying and selling of goods, services, rents, and contracts within the national economy is an act that violates the law.   https://kirkuktv.net/AR/Details/18583

Deputy: Most Of The Problems Of The Center And The Region Are Due To The Lack Of An Oil And Gas Law

Local  Information/Baghdad..  The representative of the Kurdistan Democratic Party, Sharif Suleiman, confirmed today, Friday, that most of the problems occurring between Baghdad and Erbil occurred as a result of the absence of an oil and gas law, pointing out that there is an active movement to approve this law.

Suleiman told Al-Maalouma, “What gives reason for optimism is the awareness of all political parties of the importance of the oil and gas law, as it has become necessary to move towards proceeding with its legislation within Parliament.”

He added, "The current stage requires accelerating the approval of the aforementioned law, especially since Iraq is in dire need of legalizing oil, gas, and natural resources, so that all governorates can obtain their rights."

He stated that "most of the disputes and problems between the center and the region occurred because of the existence of the oil and gas law, and everyone is moving today to pass it in a formula that serves everyone and guarantees the rights of the oil-producing governorates. It is possible that an amendment will be made to the budget law in the event that the oil and gas law is approved so that it is compatible with Budget paragraphs. Ended 25 n   LINK

https://almaalomah.me/news/48671/local/%D9%86%D8%A7%D8%A6%D8%A8:-%D9%85%D8%B9%D8%B8%D9%85-%D9%85%D8%B4%D8%A7%D9%83%D9%84-%D8%A7%D9%84%D8%A7%D9%82%D9%84%D9%8A%D9%85-%D9%88%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2-%D8%A8%D8%B3%D8%A8%D8%A8-%D8%B9%D8%AF%D9%85-%D9%88%D8%AC%D9%88%D8%AF-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%88

The Security Restriction Has Proven To Be A Failure... 3 Benefits Of “Importing The Dollar” And Recognizing The Parallel Market

Baghdad today – Baghdad   Today, Wednesday (November 29, 2023), the Diyala Chamber of Commerce reviewed the existence of 3 positives for importing the dollar from abroad into Iraq, noting that the Central Bank officially recognized the existence of the parallel market and its influence.

The head of the Diyala Chamber of Commerce, Muhammad al-Tamimi, said in an interview with “Baghdad Today” that “the Central Bank giving some banks the green light to import the dollar to meet internal demand is a step in the right direction and carries in its content 3 positives, the most prominent of which is creating a greater supply and meeting customers’ needs at a more flexible pace,” expecting “The dollar will witness a gradual decline after the arrival of more shipments.”

He added, "The security restrictions surrounding the mechanisms for selling the dollar within the parallel market have proven to be ineffective and have caused prices to rise more than once," pointing out that "the step reflects government recognition of the parallel market and its influential role in shaping the exchange for buying and selling the dollar."

He pointed out that "the dollar crisis will remain and the difference between the official and the parallel will decrease, but not to the level of significant convergence, because a large portion of imports come from outside the platform to merchants and companies, which means that the parallel market will continue to suffer from pressure."

Earlier today, a source in the Central Bank of Iraq revealed the arrival of “dollar” shipments to Baghdad International Airport, imported by Iraqi banks.

The source confirmed to “Baghdad Today,” “The continued arrival of dollar shipments through Baghdad International Airport, imported by Iraqi banks to meet customer requests.”

He explained, "It is hoped that additional shipments will arrive within the next few days."

The Central Bank of Iraq had directed banks to meet the stipulated requirements for the dollar at the official rate, while the rest of the requests for the dollar are made according to supply and demand, which means lifting the ban on trading in the dollar, and making it permissible in the parallel market.

https://baghdadtoday.news/236651-%D8%A7%D9%84%D8%AA%D9%82%D9%8A%D9%8A%D8%AF-%D8%A7%D9%84%D8%A3%D9%85%D9%86%D9%8A-%D8%A3%D8%AB%D8%A8%D8%AA-%D9%81%D8%B4%D9%84%D9%87.-3-%D9%81%D9%88%D8%A7%D8%A6%D8%AF-%D9%84%D9%80%D8%A7%D8%B3%D8%AA%D9%8A%D8%B1%D8%A7%D8%AF-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%88%D8%A7%D9%84%D8%A7%D8%B9%D8%AA%D8%B1%D8%A7%D9%81-%D8%A8%D8%A7%D9%84%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%8A.html

Despite The OPEC Plus Reduction, Oil Continues To Decline

Time: 12/01/2023 Read: 897 times  {Economic: Al-Furat News} Oil prices continued their losses during trading today, Friday, the first of December, after producers in the OPEC+ alliance agreed to voluntary cuts in oil production over the first quarter of next year, but below analysts’ expectations.

Brent crude futures fell by about 0.4% to $80.53 per barrel, as crude had recorded monthly losses of more than 5% from November.

US crude futures also fell by 0.2% at $75.79 per barrel.

Yesterday, Thursday, Saudi Arabia, Russia, and some members of OPEC+ - which are responsible for pumping more than 40% of the world's oil - agreed to voluntary cuts in oil production by about 2.2 million barrels per day in the first quarter of 2024.

However, 1.3 million barrels per day of these cuts represent an extension of the voluntary reduction in production by Saudi Arabia and Russia, and therefore the decision came in contrast to statements by some former delegates to OPEC+ regarding new additional cuts that may reach two million barrels per day.

As for the new reductions, which amount to 900 thousand barrels per day, they are divided by 200 thousand barrels per day from fuel exports from Russia, and the rest from 6 other members, as the UAE decided to reduce production by 163 thousand barrels per day, while Iraq reduced production by 220 thousand barrels per day. .  LINK

https://alforatnews.iq/news/%D8%B1%D8%BA%D9%85-%D8%AA%D8%AE%D9%81%D9%8A%D8%B6-%D8%A3%D9%88%D8%A8%D9%83-%D8%A8%D9%84%D8%B3-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%8A%D9%88%D8%A7%D8%B5%D9%84-%D8%A7%D9%84%D8%AA%D8%B1%D8%A7%D8%AC%D8%B9

Provoking Points to Ponder on Experiences:

When I was young, I was sure of everything; in a few years, having been mistaken a thousand times, I was not half so sure of most things as I was before; at present I am hardly sure of anything but what God has revealed to me – John Wesley

No man was ever endowed with a judgment so correct and judicious, but that circumstances, time, and experience would teach him something new, and apprise him that of those things with which he thought himself the best acquainted, he knew nothing; and that those ideas which in theory appeared the most advantageous were found, when brought into practice, to be altogether impracticable – Terrence

However learned or eloquent, man knows nothing truly that he has not learned from experience – Wieland

Experience keeps a dear school; but fools will learn in no other, and scarce in that; for it is true we may give advice, but we cannot give conduct – Franklin

No man was ever so completely skilled in the conduct of life, as not to receive new information from age and experience – Terrence

Goldilocks' Comments and Global Economic News Thursday Evening 11-30-23

Goldilocks' Comments and Global Economic News Thursday Evening 11-30-23

Good Evening Dinar Recaps,

The US dollar is no longer the top currency being sold on Forex. Several currencies are beginning to outpace the dollar in terms of their demand. This will begin to create price pressures on their values over time.

We are in a building-up phase for currencies. Creating demand for their use will go a long way in determining a price for their goods and services around the world.  As we continue to tokenize assets on the market, the ability to synchronize real values to our currencies will come as we interface these values going forward.

© Goldilocks

https://watcher.guru/news/brics-u-s-dollar-dips-against-local-currencies
Stellar Link

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 SIX DIGITAL EXCHANGE AND DLT FINANCE JOIN FORCES TO ENHANCE CRYPTO TRADING

SIX Digital Exchange and DLT Finance have announced a strategic partnership to enhance crypto trading, with SDX providing custodian and staking services and DLT Finance focusing on brokerage and trading through its subsidiary.

This collaboration aims to create an end-to-end solution for regulated crypto trading, brokerage, and custody services, targeting institutional clients and fostering a more secure, regulated European ecosystem for cryptocurrencies and digital securities.

https://www.cryptopolitan.com/six-digital-dlt-finance-join-crypto-trading/

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Nobody wants U.S. Treasury bonds
https://www.semafor.com/article/11/28/2023/nobody-wants-us-treasury-bonds

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Just a reminder:

You never have and you never will see me ask for money in providing you information on this site or from me.

There are way too many people hurting right now for money, and it is my position that we are in this together as a family and should be treated accordingly.

© Goldilocks

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Nasdaq has launched a service digitising the issuance, settlement and custody of carbon credits.

Designed for market infrastructures, registry platforms and other service providers globally, the service aims to support the development and institutionalisation of global carbon markets.

Market operators and registries will be able to create standardised digital credits through the service and distribute these with full auditability through the transaction lifecycle.

AssetServicingTimes Link

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ALERT! Massive Solar Silver USE CONFIRMED! 928M/oz by 2027! Here Comes $600/oz SILVER!! (Bix Weir)   https://youtu.be/hXAUPcR44e8?feature=shared

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JUST IN: 🇦🇷 Argentina declines invitation to join BRICS.  @WatcherGuru

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Pending home sales in October dropped to the lowest level since the National Association of Realtors began tracking them in 2001.

Mortgage rates in October rose sharply, with the average on the 30-year fixed loan briefly soaring over 8%.   Rates have since pulled back but are still above 7%, and supply is still tight.

https://www.cnbc.com/2023/11/30/pending-home-sales-drop-to-record-low.html

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Bob Kudla – What We Are Witnessing Is The End Of The [CB], Watch What Happens Next

https://x22report.com/aiovg_videos/bob-kudla-what-we-are-witnessing-is-the-end-of-the-cb-watch-what-happens-next/

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Iraq Economic News and Points to Ponder Thursday Evening 11-30-23

Iraq Economic News and Points to Ponder Thursday Evening 11-30-23

Tlm724 Administrator Bondlady’s Corner

Oil Prices Are Turning Lower Amid Anticipation Of The Results Of The OPEC+ Meeting

Arab and international  Economy News - follow-up   Oil prices fell by more than 2 percent, Thursday, in anticipation of the outcome of the OPEC+ alliance meeting, which may include further supply cuts in 2024 on its agenda .

By 16:21 GMT, Brent crude futures for January delivery fell 2.68 percent to $80.63 per barrel, a quick turnaround from a rise of about 1.1 percent, or $84.01 per barrel a few hours earlier .

The Brent contract expires to the nearest maturity later today, Thursday .

US West Texas Intermediate crude futures also fell by 2.75 percent to $75.70 per barrel .

A source told Reuters that it is possible that OPEC+, which consists of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, will reach an agreement that includes reducing production by approximately two million barrels per day, depending on the outcome of negotiations between members on Thursday .

Calum McPherson, an analyst at Investec, said that Saudi Arabia’s pledge to extend its voluntary reduction would be “really important and will remove the risk of collapse of any proposed agreement,” according to Reuters .

But investors will await the official announcement at Thursday's meeting and the details of the additional reduction .  Views 10 11/30/2023 - https://economy-news.net/content.php?id=38022

Al-Mandalawi Calls For The Formation Of An International Economic Alliance

Money  and business  Economy News _ Baghdad  Today, Thursday, First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, called for the formation of an international economic alliance to achieve development and reconstruction instead of the language of weapons and wars.

The media office of the First Deputy Speaker of the House of Representatives said in a statement received by Al-Iqtisad News, “The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, received in his office today, Thursday, the Chargé d’Affaires of the German Embassy in Iraq/Head of the Mission, Maximilian Rasch.”

Al-Mandalawi called for "the formation of an international (economic) alliance, built on the basis of meeting the interests of common peoples, and achieving development, reconstruction and prosperity for peoples, instead of the language of weapons and wars, and aims to develop infrastructure and encourage investment at all levels."

He stressed that "the House of Representatives supports the work of Siemens in building a number of stations in various governorates," stressing the importance of "activating bilateral memorandums of understanding and parliamentary ties between the two countries, and granting more facilities to reputable German investment companies to work in Iraq."

In turn, the German Chargé d'Affairs stated that "his country is committed to Iraq in the fields of electricity, education, and revitalizing bilateral relations at various levels," stressing that "Iraq has contributed fundamentally to preventing escalation in Gaza, and has the ability to bring peace to the region."   Views 51 11/30/2023 - https://economy-news.net/content.php?id=37999

Economist: The Government Is Required To Shift To A Flexible Economy By Encouraging Investment And Protecting Investors From Extortion

Thursday 30, November 2023 10:24 | Economical Number of readings: 518   Baghdad / NINA / Economic expert Saleh Al-Hamashi called on the government to shift to a flexible economy by encouraging investment and protecting investors from government blackmail and others.

He said in a statement to the National Iraqi News Agency ( NINA ): “The global economic conditions are fluctuating, global growth is slowing down, the region is suffering from major political and security crises, events are accelerating, and the possibilities are many, and all of these events are casting a shadow on the region’s economies.”

Al-Hamashi added: “Iraq already suffers from the problem of the rentier economy, which by its nature is inflexible in the face of economic, political and security fluctuations, as it turns the state into a financial one and leaves it out of the general economy.”

He pointed out: "Iraq today has benefited from the rise in global oil prices, but has been affected by the rise in global prices for foodstuffs. All commodities have also risen globally, and the government is unable to address or compensate for the shortage locally because the Iraqi economy has become a hostage of regional and global economies."

Al-Hamashi expressed his belief that the impact has become direct on the Iraqi economy in all economic developments, calling on the government to develop a plan to transform into a flexible economy capable of facing all changes by encouraging investment and protecting investors from governmental and non-governmental blackmail, as well as activating the role of banks in moving the wheel of the economy. By providing cash liquidity and easy movement of funds.”/End 3

https://ninanews.com/Website/News/Details?Key=1092668

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

https://www.bondladyscorner.com/

 Provoking Points to Ponder on Riches & Wealth: 

In proportion as nations become more corrupt, more disgrace will attach to poverty and more respect to wealth. -- Colton

The larger the income, the harder it is to live within it. -- Whately

Misery assails riches, as lightning does the highest towers; or as a tree that is heavy laden with fruit breaks its own bough, so do riches destroy the virtue of their possessor. -- Burton

To have what we want is riches, but to be able to do without is power. -- G. Macdonald

There are two things needed in these days; first, for rich men to find out how poor men live; and second, for poor men to know how rich men work. -- E. Atkinson

He is richest who is content with the least, for content is the wealth of nature. -- Socrates

If a rich man is proud of his wealth, he should not be praised until it is known how he employs it. -- Socrates

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

Iraq Economic News and Points to Ponder Thursday Afternoon 11-30-23

Iraq Economic News and Points to Ponder Thursday Afternoon 11-30-23

Tlm724 Administrator Bondlady’s Corner

Saleh: The Final Accounts Of Official Institutions Are A Binding Condition For Evaluating Public Money Management

11/30/2023  Read: 1,573 times  {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, stressed the necessity of preparing official institutions for the final accounts.

Saleh told {Al-Furat News} agency, “It is necessary for all state institutions, in cooperation with financial oversight bodies, to take the initiative to prepare the requirements for the final account for each institution or spending unit separately at the end of the fiscal year. This is a necessary condition that facilitates the attainment of the total final accounts as a general budget, in accordance with what is stipulated.” According to the effective Financial Management Law No. 6 of 2019, amended.”

He pointed out the importance of "adopting this as a binding context for all concerned institutions in order to evaluate the management of public money early without delay or delay."

The head of the Federal Financial Supervision Bureau, Ammar Al-Mashhadani, announced the day before yesterday, Tuesday, that the audit of the final accounts for the entire 2016 budget had been completed, while indicating that the Council of Ministers had issued a directive to oblige all government agencies to disclose their accounts.

Al-Mashhadani said, in a press statement, “The audit of the final accounts for the 2016 budget has been fully completed, and will reach the competent authorities in the Council of Ministers and Representatives,” stressing that “an agreement was reached with the Ministry of Finance to complete the audit of the final accounts for the years 2017, 2018, and 2019.”

He added, "The final accounts for the years after 2020 did not reach the Financial Supervision Bureau by the Ministry of Finance," stressing "the necessity of obtaining financial data from the Ministry of Finance to begin the audit process."

Regarding the disclosure of the final accounts of the officials, Al-Mashhadani confirmed that “there are entities whose data did not reach the Office of Financial Supervision, as the issue was presented in a transparent manner before the Council of Ministers, and a directive was issued by the latter to oblige government agencies, whether self-funded or centrally, to deliver their data to the Office,” pointing out. To, “The low percentages of budget utilization for governorates and ministries is a negative indicator, which is wasting opportunities to utilize budgets properly to provide the best services to citizens.”

He pointed out, “The Financial Supervision Bureau follows up on any evidence of conviction or suspicions of corruption of those who exploited public funds, and communicates them to the judiciary, the public prosecution, and the competent authorities, but the most important thing is sufficient proof.”

It is noteworthy that the Ministry of Finance announced earlier the completion of the final accounts for the budgets of the years from 2017 to 2019.   LINK

Al-Nusairi: A New Round Of Understandings To Regulate Trade Financing And Control The Exchange Rate On The Black Market With The US Federal Reserve

Economy News _ Baghdad  A government delegation, including officials from the Central Bank of Iraq, will hold a new round of understandings early next December, with the US Federal Reserve, to hold meetings within the framework of a series of negotiations in order to reach more agreements to regulate trade financing and enhance the balances of Iraqi banks from various foreign currencies in banks. Correspondence, thus controlling dollar speculation in the black and maintaining the stability of the exchange rate.

The advisor to the Iraqi Private Banks Association, Samir Al-Nusairi, said in an interview with Al-Iqtisad News that there are currently negotiations taking place with the relevant authorities in Turkey and with Turkish banks to enhance balances in euros or Turkish lira, in addition to that dealings will be made in the coming days with the Emirates through the mediation of Abu Dhabi Bank.

The first is to enhance balances in the UAE dirham,” stressing that “the government and the central bank are in the final round of the battle with speculators, and the dollar exchange rate in Iraq will soon stabilize.”

Al-Nusairi noted that “the total foreign trade or commercial exchange of Iraq with countries annually is approximately 60 billion dollars, distributed between China about 12-14 billion dollars, Turkey about 10 billion dollars, Iran about 10-12 billion dollars, and then the rest of the countries such as India, the Emirates, Saudi Arabia, Jordan, Syria, Egypt and others.”

Samir Al-Nusairi pointed out that “the new currencies with which our bank balances will be strengthened are the European euro, the Chinese yuan, the Emirati dirham, the Turkish lira, and the Indian rupee, and they may constitute a percentage of no less than 60% of the volume of our annual imports,” indicating that “dealing with these currencies comes after the approval of the Federal Reserve.” "The American, with his assistance and in agreement with him."

He explained, "The opening of accounts for correspondent banks, which have now reached more than 40 new accounts in correspondent banks, were opened by our banks, whose number is approximately the same as a bank, and they are on the verge of increasing to more than this number.

These correspondent banks are such as Citibank, JP Morgan, and Chinese, Emirati, and Indian banks." And Turkish, stressing that “there are no fears of Iraq being subjected to sanctions from the US Federal Reserve in this regard, but rather that these banks are authorized to deal and open accounts after agreement with the US Federal Reserve.”

 There are new instructions and procedures for the Central Bank that include allowing Iraqi banks that have accounts abroad in foreign currencies to import and transfer these currencies into Iraq for the purpose of using them to distribute citizens’ deposits with our banks that are in foreign currency, and thus they will be distributed to them, in addition to giving these banks flexibility to deal with companies.

 And organizations and those who receive their salaries in foreign currencies,” according to specific conditions and controls issued by the Central Bank, and this step will lead to preserving the foreign cash reserves of the Central Bank, according to the advisor to the Association of Iraqi Banks.

Al-Nusairi stressed that “the above twenty banks opened their accounts in accordance with specific commitments and controls to enhance their balances, and thus they will control the movement of speculators on the black market and put pressure on the dollar circulating on the black market resulting from illicit trade and unofficial outlets that have not been controlled.”

An advisor to the Iraqi Banks Association, stated that “the procedures for transitioning from a cash economy to a digital economy, which will be implemented by the government and the central bank through broad measures, will contribute to determining dealing in dollars on the black market,” and thus will lead to stability of the exchange rate.   Views 75 11/30/2023 - https://economy-news.net/content.php?id=37996

The Stock Exchange announces the trading of more than 84 billion shares during November

Market  Economy News – Baghdad  The Iraq Stock Exchange (Stock Exchange) announced, on Thursday, the trading of more than 84.5 billion shares, worth 93.05 billion dinars, during the month of November.

The market said, in a statement received by Al-Iqtisad News, that it organized “22 trading sessions in the month of November 2023 that lasted from Sunday to Thursday of each week,” noting that “the number of companies traded reached 72 joint-stock companies. ”

The statement added that "the number of shares traded amounted to (84,524,912,446) shares, with a value of (93,059,169,179) dinars . "

He stated that "the number of executed contracts reached (13,357) contracts, while the ISX60 traded stock price index closed in the last trading session at (880.95) points . "

Views 57  Added 11/30/2023 - https://economy-news.net/content.php?id=38006

Al-Sudani: The Government Will Provide Facilities To Major Companies Of Various Nationalities

Political | 12:06 - 11/30/2023  Baghdad - Mawazine News  Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Thursday, the provision of all facilities to major investment companies of various nationalities.

The Prime Minister's Media Office stated in a statement, "Prime Minister Muhammad Shiaa Al-Sudani received this morning the President of the Chinese Changxin Company, Zhang Jiming, and his accompanying delegation."

He added, "Changxin Company, which is one of the largest Chinese companies and has multiple investments in various countries of the world, will implement a project to establish an advanced industrial city in Basra Governorate for the manufacture and production of iron, using sponge iron," pointing out that "Changxin Company is in the process of contracting To create a project to invest in sulfur in Iraq, with the aim of exporting it abroad.

He continued, "These projects come within the government's directions to invest in natural resources and mineral wealth throughout Iraq, and to revitalize the industrial sector, which represents a pillar of the economic reform packages that constitute a priority in the government program."

During the meeting, the Prime Minister pointed out that "Iraq has many promising investment opportunities, which are available to all investors," stressing that "the government will provide all the facilities that major companies of different nationalities need."

https://www.mawazin.net/Details.aspx?jimare=238760

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

https://www.bondladyscorner.com/

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

You cannot and will not encounter a circumstance or a single moment that does not serve directly and  immediately the  need of your soul to heal - to come to wholeness

When the personality , Jesus encountered the Luciferic principle , the challenging dynamic of the human experience -- when he  was offered dominion over the  entire  globe -- was he tempted??? Yes he was tempted !! If he were not - there would have been no power in his choice -- Authentic empowerment is not gained by making choices that do not stretch you  

Sooner or later, each soul will turn toward authentic power - Every situation serves this goal and every soul will reach it

When you understand that the experiences of your life are necessary to the balancing of the energy of your soul - you are free to not react to them personally -- to not create more negative karma for your soul 

Although what you encounter and what you do in each moment is appropriate and perfect to the evolution of your soul -- the shape of the  experiences of your life is determined nonetheless by the choices that you  make -- It is you that  chooses to linger in resentment - or enveloped in  grief - or to release these lower frequency currents of energy 

Goldilocks' Comments and Global Economic News Thursday AM 11-30-23

Goldilocks' Comments and Global Economic News Thursday AM 11-30-23

Good morning Dinar Recaps,

Early 2024, the BRICS leaders are considering what form of "unified payment system" they want for their countries who belong to this alliance.

It will allow them the ability to trade in local currencies instead of the dollar creating more demand for their own national currencies and increasing their values.

This alternative payment system will begin in the form of recommendations allowing them to move forward with their new monetary system.

"The Minister stressed that national currencies are already actively replacing the dollar in the calculations of the Russian Federation with China and India."

In other words, China, Russia, and India are already forming new prices in local currencies with a select group of countries increasing the demand for them and their values in the process.

As these countries solidify trading partnerships, higher values will be supported through free trade agreements among themselves and new countries coming on board.

© Goldilocks

TV BRICS  Link

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Crypto custody firm Copper (https://www.theblock.co/post/176752/crypto-custodial-firm-copper-raises-196-million-in-series-c-round) on Wednesday launched a new digital assets brokerage platform for institutional trading in the United Arab Emirates (https://www.theblock.co/post/232662/uae-central-bank-issues-aml-cft-guidance-for-crypto).

Called Copper Securities, the platform combines a suite of blockchain-based financial and custodial services, with securities financing and payments applications to follow in the next 12 months. According to a press release, the new platform will be integrated with Copper's custodial partners, providing access to financial instruments in over 90 markets across the globe.

The new platform offers institutional investors access to tokenized securities, allowing traders to leverage blockchain (https://www.theblock.co/post/265130/sei-blockchain-to-add-ethereum-virtual-machine-support-in-v2-upgrade) technology and smart contracts to manage traditional instruments such as equities.

https://www.theblock.co/post/265190/crypto-custody-firm-copper-launches-institutional-trading-platform-for-tokenized-securities
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Protocol 20 implements 12 new Core Advancement Proposals that, combined, introduce the changes required to enable Soroban smart contracts on Stellar Mainnet.  With this upgrade around the corner, there’s a lot to unpack! Dive into the overview below  Stellar Link   Twitter Link

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Dollar Is On It's Last Days | David Morgan

https://www.youtube.com/watch?v=XQME0sXDWMs

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US dollar continues to lose investors

The US dollar continued its losing streak while Treasuries steadied after rallying on further bets that the US Federal Reserve is nearing the end of its rate hike cycle.

Hopes that interest rates have peaked and the economy will avoid a recession spurred stocks and government bonds this month.

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You are on Santa's naughty list...

https://youtu.be/6ohvLmbBA-w?feature=shared

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"Tidbits From TNT" Thursday Morning 11-30-2023

 TNT:

Tishwash:  The President of the Republic leaves Baghdad heading to the UAE to participate in “COP 28”

Today, Thursday (November 30, 2023), President Abdul Latif Gamal Rashid headed to the UAE to participate in the work of the United Nations Climate Summit (COP28).

The Presidency of the Republic stated in a statement received by “Baghdad Today” that “President of the Republic, Abdul Latif Jamal Rashid, left the country today, Thursday, November 30, 2023, heading to the United Arab Emirates to participate in the work of the United Nations Climate Summit (COP28), which will be held in the Emirate of Dubai.” " .

She added, "He will attend the leaders' summit that will be held tomorrow, Friday, December 1, 2023, where His Excellency will deliver Iraq's speech during the summit . "

She noted that "the President of the Republic is accompanied by a high-level government delegation that included Foreign Minister Fouad Hussein, Environment Minister Nizar Amedi, and a number of experts and advisors  link

CandyKisses:  Al-Sudani Office: "Shang Xin" company will implement an industrial city in Basra and invest sulfur in Iraq

Baghdad today - Baghdad  

The Media Office of Prime Minister Muhammad Shiaa Al-Sudani announced today, Thursday (China 30, 2023), that the Chinese company "Changxin" will implement an industrial city in Basra Governorate and invest in sulfur in Iraq.

The media office said in a statement received by "Baghdad Today" that: "The Sudanese received today the President of the Chinese Changxin Company, Zhang Jiming, and his accompanying delegation."

During the meeting, the Prime Minister stressed, "Iraq has many promising investment opportunities, which are available to all investors, indicating that the government will provide all the facilities needed by major companies of different nationalities," according to the statement.

The statement pointed out that "Shang Xin Company, which is one of the largest Chinese companies, and has multiple investments in various countries of the world, will implement a project to establish an advanced industrial city in Basra province for the manufacture and production of iron , using sponge iron, and it is also in the process of contracting to establish a special project for sulfur investment in Iraq, with the aim of exporting it abroad."

He pointed out that "these projects come within the government's directions to invest natural resources and mineral wealth throughout Iraq, and to revitalize the industrial sector, which represents a pillar in the economic reform packages, which is a priority in the government program."

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CandyKisses:  Al-Nasiri: A new round of understandings to regulate trade finance and control the exchange rate on the black market with the US Federal Reserve

 Economy News _ Baghdad   2023/11/30 - 10:02 AM

A government delegation that includes officials from the Central Bank of Iraq will hold a new round of understandings early next December, with the US Federal Reserve, to hold meetings within the framework of a series of negotiations in order to reach more agreements to regulate trade financing and enhance the balances of Iraqi banks of various foreign currencies in correspondent banks, and thus control dollar speculation in black.

The adviser to the Association of Iraqi Private Banks Samir Al-Nasiri said in an interview with "Economy News", that there are negotiations currently taking place with the concerned authorities in Turkey and with Turkish banks to enhance balances in euros or Turkish lira, as well as that it will deal in the coming days with the UAE mediated by the First Abu Dhabi Bank to enhance balances in UAE dirhams, "stressing that "the government and the Central Bank are in the last round of the battle with speculators, and the dollar exchange rate in Iraq will stabilize soon."

Al-Nasiri pointed out that "the total foreign trade or trade exchange of Iraq with countries annually is about 60 billion dollars, distributed between China about 12-14 billion dollars, Turkey about 10 billion dollars, Iran about 10-12 billion dollars, and then the rest of the countries such as India, the UAE, Saudi Arabia, Jordan, Syria, Egypt and others." Samir Al-Nasiri pointed out that "the new currencies that will strengthen the balances of our banks are the European euro, the Chinese yuan, the UAE dirham, the Turkish lira and the Indian rupee, and may constitute at least 60% of the volume of our annual imports," noting that "dealing with these currencies comes after the approval of the US Federal Reserve and its assistance and in agreement with it."

He explained that "the opening of accounts for correspondent banks, which have now reached more than 40 new accounts in correspondent banks, opened by our banks, which number within the limits of a bank, which is heading to increase to more than this number, and that these correspondent banks are such as Citibank, JP Morgan, Chinese, Emirati, Indian and Turkish banks," stressing "that there are no fears that Iraq will be subjected to sanctions from the US Federal Reserve in this regard, but that these banks are authorized to deal and open accounts after agreement with the US Federal Reserve."

There are new instructions and procedures for the Central Bank that include allowing Iraqi banks that have accounts abroad in foreign currencies to import and transfer these currencies into Iraq for the purpose of using them to distribute citizens' deposits with our banks, which are in foreign currency, and therefore will be distributed to them, as well as giving flexibility to these banks to deal with companies and organizations who receive their salaries in foreign currencies, "in accordance with specific conditions and controls issued by the Central Bank and that this step will lead to the preservation of the foreign currency reserves of the Central Bank. According to the consultant of the Association of Iraqi Banks.

"The above twenty banks have opened their accounts according to specific obligations and controls to enhance their balances, and thus they will control the movement of black market speculators and put pressure on the dollar circulating on the black market resulting from illegal trade and uncontrolled uncontrolled uncontrolled outlets," al-Nasiri said. Advisor to the Association of Iraqi Banks, stated that "the measures to shift from the monetary economy to the digital economy, which will be implemented by the government and the Central Bank through broad measures, will contribute to determining the dollar dealing in the black market."

Mot:  .. What are YOU hilariously bad at?

Mot: ..... Mine was a Beeeee 

Iraqi News Highlights and Points to Ponder Thursday AM 11-30-23

Iraqi News Highlights and Points to Ponder Thursday AM 11-29-23

The Iraqi Dinar Recovers Against The US Dollar.. 157,500 For Every 100 Dollars In Baghdad

Economy |Baghdad today – Baghdad  Today, Thursday (November 30, 2023), the prices of the dollar against the dinar recorded a noticeable decline in the local markets in the capital, Baghdad.

The "Baghdad Today" correspondent said, "Dollar prices fell on the main Kifah and Harithiya stock exchanges in Baghdad to record 156,800 dinars against 100 dollars."

He added, "Selling prices in money exchange shops in local markets in Baghdad decreased, as the selling price reached 157,500 dinars for 100 dollars, while the purchase price reached 155,500 dinars for 100 dollars."

The dollar exchange rates in the local markets this week witnessed stability at an increase, at 158 ​​thousand dinars for every 100 dollars.   LINK

The Security Restriction Has Proven To Be A Failure... 3 Benefits Of “Importing The Dollar” And Recognizing The Parallel Market

Baghdad today – Baghdad  Today, Wednesday (November 29, 2023), the Diyala Chamber of Commerce reviewed the existence of 3 positives for importing the dollar from abroad into Iraq, noting that the Central Bank officially recognized the existence of the parallel market and its influence.

The head of the Diyala Chamber of Commerce, Muhammad al-Tamimi, said in an interview with “Baghdad Today” that “the Central Bank giving some banks the green light to import the dollar to meet internal demand is a step in the right direction and carries in its content 3 positives, the most prominent of which is creating a greater supply and meeting customers’ needs at a more flexible pace,” expecting “The dollar will witness a gradual decline after the arrival of more shipments.”

He added, "The security restrictions surrounding the mechanisms for selling the dollar within the parallel market have proven to be ineffective and have caused prices to rise more than once," pointing out that "the step reflects government recognition of the parallel market and its influential role in shaping the exchange for buying and selling the dollar."

He pointed out that "the dollar crisis will remain and the difference between the official and the parallel will decrease, but not to the level of significant convergence, because a large portion of imports come from outside the platform to merchants and companies, which means that the parallel market will continue to suffer from pressure."

Earlier today, a source in the Central Bank of Iraq revealed the arrival of “dollar” shipments to Baghdad International Airport, imported by Iraqi banks.

The source confirmed to “Baghdad Today,” “The continued arrival of dollar shipments through Baghdad International Airport, imported by Iraqi banks to meet customer requests.”

He explained, "It is hoped that additional shipments will arrive within the next few days."

The Central Bank of Iraq had directed banks to meet the stipulated requirements for the dollar at the official rate, while the rest of the requests for the dollar are made according to supply and demand, which means lifting the ban on trading in the dollar, and making it permissible in the parallel market. LINK

Parliamentarian: Iraq Loses About $500 Million Every Day From Burning Gas

WEDNESDAY, 11-29-2023, KARAR AL-ASSADI  On Wednesday, a member of the Parliamentary Oil, Gas and Natural Resources Committee, Zainab Al-Moussawi, identified three benefits behind investing in the gas associated with the oil production process, while she touched on the size of Iraq’s daily losses. She confirmed that Iraq lost approximately 500 million dollars from burning gas.

Al-Moussawi said in a statement received by Noon News Agency, that “Iraq’s losses from burning associated gas daily are sufficient to supply at least 3 million homes with electrical energy,” indicating that “in recent times, Iraq has lost approximately 17.91 billion cubic meters, with the financial cost amounting to Every day, approximately 500 million dollars are burned from gas.”

Al-Moussawi pointed out that “the increase in the burning rate of associated gas in Iraq is directly proportional to the increase in oil production,” indicating that “the natural reserve of Iraqi gas is estimated at 132 trillion cubic feet - according to the Organization of the Petroleum Exporting Countries (OPEC) -, as Iraq burned 700 billion cubic feet of it as a result of weak capacity to exploit it, with its daily production of associated natural gas reaching 2.7 billion cubic feet.”

A member of the Parliamentary Gas Committee explained, “Iraq aims to reach 3.1 billion cubic feet, estimated at 1.5 of the global reserve from OPEC, and 1.8 of the global reserve, and ranks 11th in the world in terms of international ranking.”

She added, "Baghdad destroyed an estimated 18 million cubic meters of gas in 2020, and if this quantity was converted into barrels, it would destroy the equivalent of 62% of its gas production, which is equivalent to 196 thousand barrels of oil, which is equivalent to 45 billion." "Roughly a dollar."

Regarding the benefits of investing in associated gas, Al-Moussawi stated that “investing in associated gas has three important and beneficial aspects. The first relates to the economic aspect by providing resources and income to the state budget in the range of $2.5 billion annually,” explaining that “the second aspect is represented by the social situation, by employing many young people.” Unemployed people if gas processing plants are prepared.”

Al-Moussawi continued, “The third aspect concerns the environmental issue,” continuing her speech: “If we calculate the amount of carbon emitted into the atmosphere, it is estimated at about 150 million tons, and combustion pollutes the air as the region becomes hotter, specifically the southern regions.”

https://non14.net/public/162285

The Dollar Declines Against The Dinar... A New Decline In The Exchange Rate In Iraq

2023-11-30 | 8,111 views  Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Thursday, November 30, 2023.

Dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 156,500 dinars for 100 dollars, while selling prices in exchange shops in local markets in Baghdad fell, as the selling price reached 157,500 Iraqi dinars, while purchasing prices reached 155,500 dinars for every 100 dollars.

On February 7, the Council of Ministers announced its approval of amending the dollar exchange rate to 1,320 dinars per dollar.

For about a year, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system ““SWIFT,” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel markets.  LINK

What Is Expected From The OPEC+ Meeting Today? And The Most Likely Scenarios

Time: 11/30/2023 Read: 1,183 times   {Economic: Al-Furat News} The Organization of the Petroleum Exporting Countries (OPEC) postponed the 51st meeting of the Joint Ministerial Monitoring Committee, and the 36th ministerial meeting of “OPEC+” countries, to today, Thursday, November 30 {today, Thursday}, instead of the 25th and 26th of the same month. And then later converting it to a virtual meeting, a lot of speculation about the reasons for postponement, and expected scenarios.

Below are the most frequently asked questions in the market in this regard, and the answers of oil sector analysts to them:

Why was the OPEC+ meeting postponed?

According to what Bloomberg reported from sources in OPEC, the main reason for postponing the meeting of OPEC and its allies (OPEC+) is to give the oil and energy ministers of the coalition countries more time to discuss the new cuts called for by Saudi Arabia with their governments in order to reach an agreement to reduce production. On the other hand, some sources said that the reason is the continuation of negotiations with three African countries (Angola, Nigeria, and Congo) that objected to their production quotas that will come into effect starting on the first day of next year 2024.

Why was it converted to a virtual meeting?

As for converting it to a virtual one, it may be a sign that countries do not want an in-person meeting in the Austrian capital, Vienna, without confirmation of the existence of an agreement. It may be converted to virtual coinciding with the presence of some ministers in Dubai to attend the opening of the Climate Summit (COP 28), which is being held for the first time in a member state of OPEC or the “OPEC+” alliance.

Why do African countries object to quotas despite previously agreeing to them?

African countries are in dire need to export the largest possible amount of oil in order to finance the budgets of these countries, which are considered poor even though they are oil producers. This is why, historically, it has always objected to the quotas imposed on it and tried to obtain a production ceiling higher than what was given to it.

Bloomberg: OPEC+ is close to agreeing on oil production quotas for Angola and Nigeria

But what happened this time is that the three African countries (Angola, Nigeria, and Congo) had objected to the quotas at the organization’s last meeting last summer, and then external expert houses were appointed to evaluate the production capacity of these countries for the year 2024, and then review these numbers again to ensure that they are accurate. Her health. According to what Bloomberg reported from sources, these three countries were not satisfied with the evaluation provided by the expert houses.

Who evaluated the shares of these countries?

The parties that assessed the shares of these countries were not OPEC or OPEC+, but rather three independent sources: IHS, Wood Mackenzie, and Rystad Energy.

What are the shares agreed upon in the new agreement and when will they start working?

The currently agreed-upon quotas began to be implemented in January 2023, and later this year during the last ministerial meeting of the organization and its allies, the agreement was extended to the end of 2024 and new quotas were agreed upon to take effect at the beginning of next year.

Below is a detailed table of the agreed production quotas for the year 2024 compared to the current production ceiling:

https://vod2.alforatnews.iq/upload/2023-11/40ddb09263e696c91dae3fc1bc909db0.jpg

Do we expect production quotas to be changed at today's meeting?

There are no confirmations yet, but there are various reports in the media about intensive meetings between member states to change production quotas, as unannounced discussions took place to make a new reduction in the current reduction, which amounts to 5 million barrels per day if we add Saudi Arabia’s voluntary reduction of one million barrels per day, and 300 One thousand barrels per day voluntarily reduced by Russia.

If African countries do not agree on quotas, what will happen to the agreement?

If there is no agreement with African countries, the coalition may take a decision to continue with the current production ceilings, provided that the production ceilings are reconsidered at the beginning of the new year. In any case, there will not be a significant impact on the market, given that countries with high production, such as Russia, Saudi Arabia, the United Arab Emirates, Iraq and Kuwait, all agreed to reduce and made significant voluntary and involuntary reductions this year.

What are the expected scenarios in today's meeting?

One of the expected scenarios in today's meeting is for the coalition to agree on a reduction of up to one million barrels per day additional to what exists now, and both Saudi Arabia and Russia will continue the voluntary reduction, by one million barrels per day and 300 thousand barrels per day, respectively, at least for the first quarter of 2024.

One of the expected scenarios is that all countries will not agree on a reduction, and thus the current reductions will continue in 2023.

In the absence of an agreement on 2024 quotas, member states may be required to adhere to their current production ceilings, especially since there are countries that have not yet adhered to their quotas.

Will OPEC+ countries reduce their production further?

This is an expected scenario, but many countries do not have the ability to reduce production further, especially since current oil prices do not serve them in terms of revenues, and thus these countries will lose their production, market share, and revenues at the same time.

OPEC is optimistic about the demand for oil next year.. So why are there expectations of a reduction in production?

Several factors may contribute to a decision to reduce production despite optimism about the growth in demand for oil, and among these factors: the demand for oil from China has not reached the required level, and the European winter so far is not as harsh as usual, in addition to the presence of fears of an economic recession. In the United States of America and the European Union in 2024, and the uncertainty of the global economic situation.    LINK

Provoking Points to Ponder on HOPE:

 Beware how you take away hope from another human being. -- Oliver Wendell Holmes

Hope arouses, as nothing else can arouse, a passion for the possible. -- William Sloane Coffin Jr

In prosperity prepare for a change; in adversity hope for one. -- James Burgh

For he who has health has hope; and he who has hope, has everything. -- Owen Arthur

Hope is like the sun, which, as we journey toward it, casts the shadow of our burden behind us.-- Samuel Smiles

Hope... is the companion of power, and the mother of success; for who so hopes has within him the gift of miracles.  -- Samuel Smiles

I want to help people with depression understand that there is hope, so that they can get the help they need to live rich, fulfilling lives. -- Tom Bosley

Iraq Economic News and Points to Ponder Late Wednesday Evening 11-29-23

Iraq Economic News and Points to Ponder Late Wednesday Evening 11-29-23

Tlm724 Administrator Bondlady’s Corner

Source: The Continued Arrival Of Imported Dollar Shipments By Iraqi Banks Through Baghdad Airport

Economy | 01:02 - 11/29/2023   Baghdad - Mawazine News  A banking source close to the Central Bank revealed today, Wednesday, the arrival of new shipments of dollars to Iraq.

The source stated in an interview with Mawazine News that "new shipments of dollars imported by Iraqi banks arrived through Baghdad International Airport to meet the requests of their customers."

He added, "It is hoped that additional shipments will arrive during the next few days."

https://www.mawazin.net/Details.aspx?jimare=238710  

New Shipments Of Dollars Arrive In Iraq

Wednesday 29, November 2023 13:18 | Economical Number of readings: 448  Baghdad / NINA / A banking source close to the Central Bank revealed, today, Wednesday, the arrival of new shipments of dollars to Iraq.

The source told the official agency, "New shipments of dollars imported by Iraqi banks arrived through Baghdad International Airport to meet the requests of their customers."

He added, "It is hoped that additional shipments will arrive during the next few days."/End 9

https://ninanews.com/Website/News/Details?key=1092527

The Central Bank Announces A Decrease In The Inflation Rate Compared To Last Year

Economy | 02:26 - 11/29/2023  Mawazine News – Baghdad  The Central Bank announced today, Wednesday, a decrease in the inflation rate compared to last year.

The bank’s statement, in a statement received by Al-Rasheed, stated that “the nature of the price stability achieved in the country is good compared to many countries where inflation has reached two or three decimal places.”

He explained, "Inflation in Iraq reached approximately (3.7%) in August 2023, despite the rise in inflation in Iraq's trading partner countries and according to the relative importance of those countries in their trade with it, which are both Iran and Turkey, at (46%), (57%)." ) respectively".

He added, "This reflects the success of the central bank's policy tools in achieving price stability and maintaining the inflation rate within acceptable limits."

https://www.mawazin.net/Details.aspx?jimare=238712

The Iraqi Stock Exchange Closes Up By 1.92%

Market  Economy News – Baghdad  The Iraqi Stock Exchange closed today, Tuesday, up by 1.92%.

The session traded shares of 27 companies, with the number of shares traded reaching more than 444.8 million shares, with a value of more than 514.1 million dinars.

Al Mansour Bank shares rose by 12.6%, followed by the Islamic Bank by 12.07%, and Al Taif Islamic Bank by 9.5%.  Economy Bank shares fell by 5%, followed by Ishtar Hotels by 1.4%.

Views 42 11/29/2023 - https://economy-news.net/content.php?id=37966

The Minister Of Finance Stresses To A Parliamentary Delegation The Importance Of Maturing Legislation And Laws That Support The Economic And Development Environment

Wednesday 29, November 2023 19:01 | Economical Number of readings: 433  Baghdad / NINA / Minister of Finance, Taif Sami Muhammad, met at the Ministry’s headquarters today, Wednesday, with a parliamentary delegation that included a number of representatives.

The Ministry of Finance stated in a statement, “The Minister expressed her welcome to the parliamentary delegation’s visit, which comes within the framework of efforts to strengthen the principles of partnership and maintain relations between the executive and legislative authorities.”

The statement added, "The joint bilateral files were discussed and coordination between the ministry and the parliamentary committees concerned with the financial and economic aspects was doubled, and the emphasis was placed on giving the utmost importance to the maturity of legislation and laws that support the economic and development environment that is consistent with the government program and to provide the best services to all components of the Iraqi people."/End

https://ninanews.com/Website/News/Details?key=1092615

A Chinese Advisor Describes Iraq As The "Largest" Investment Destination For His Country

Money  and business  Economy News _ Baghdad   Counselor of the Chinese Embassy in Baghdad, Xu Haifeng, said on Wednesday that Iraq is the largest investment destination for his country.

Haifeng said in a press conference held today at the Chinese Embassy in Baghdad that Iraq is a country rich in energy represented by oil and gas, and it is natural that the energy field is a relatively greater source of attraction for Chinese investments, and is in line with the industrial diversity in Iraq.

He added that Iraq, in its current state, is able to attract increasing Chinese investments in new fields in the country.    Views 61 11/29/2023 - https://economy-news.net/content.php?id=37963

Oil Prices Rise Due To A Storm In The Black Sea

Economy | 11/29/2023   Baghdad - Mawazine News   Oil prices rose in early Asian trading, on Wednesday, after a storm in the Black Sea region disrupted Kazakhstan and Russia's crude exports, raising fears of supply shortages while investors awaited a decisive decision from the OPEC+ alliance that could increase or extend production cuts.

By 0127 GMT, Brent crude futures rose 33 cents, or 0.4 percent, to $82.01 per barrel. US West Texas Intermediate crude futures rose 45 cents, or 0.6 percent, to $76.86 per barrel.

The two benchmarks rose about two percent yesterday, Tuesday, thanks to the possibility of the OPEC+ alliance, which consists of the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia, extending or increasing supply cuts, as well as concerns about oil production in Kazakhstan and the weakness of the dollar.

A severe storm in the Black Sea region disrupted up to two million barrels per day of oil exports from Kazakhstan and Russia, according to government officials and shipping data.

The Kazakh Ministry of Energy said that the country's largest oil fields reduced daily oil production by 56 percent as of November 27.

OPEC+ is scheduled to hold an online ministerial meeting tomorrow, Thursday, to discuss production targets for 2024, after it was postponed from November 26.

Four OPEC+ sources said that the talks will be difficult and it is possible to extend the previous agreement instead of deeper cuts in production.

Oil also received support from the weakness of the dollar and the decline in US crude inventories.

The dollar fell near its lowest levels in three months against other major currencies on Wednesday, with growing expectations that the Federal Reserve (the US central bank) may begin cutting interest rates early next year.   https://www.mawazin.net/Details.aspx?jimare=238691

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

https://www.bondladyscorner.com/

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

When you consciously invoke growing you consciously invoke the parts of yourself that are  not whole to come into the  foreground of your life -- With each recurrence of anger - jealousy - or fear -- you are given the choice to challenge it - or to give into it -- Each time you challenge it - it loses power and  you gain power 

As you choose to empower yourself - the  temptation that you  challenge will surface again and again -- Each time that you challenge it you gain power and it loses power

With each choice that you make to align  yourself with the energy of your soul - you empower yourself - Authentic power is built up step by step - choice by choice -- It cannot be meditated or prayed into being -- It must be earned

By remaining in your power you do not become a static energy system - one that hoards energy to itself -- You become a stable energy system - capable of conscious acts of focus and  intention -- You become a magnet for those who are illuminated and those who want to  be

Continued……….. More to come

Goldilocks' Comments and Global Economic News Wednesday Evening 11-29-23

 Goldilocks' Comments and Global Economic News Wednesday Evening 11-29-23

Good evening Dinar Recaps,

Are you noticing all of the collaboration taking place between Quantum Technologies in the articles this morning?

Many of the major corporations around the world have already begun the process of interfacing their networks together on the QFS.  As Protocol 20 continues to test its system with these new technologies connecting to one another, we will witness an explosion of new services available to us on January 30th, 2024 providing the vote to move forward with Protocol 20 is agreed upon.

© Goldilocks

Testnet Announcement and Scheduled Maintenance:

Test Network (Testnet) Reset on Monday, December 18th 2023, at 5:00pm UTC (11:00am local time)
A reset of the Stellar Test Network (Testnet) will clear all data from Testnet Horizon and Stellar Core instances. Please be prepared to recreate any Testnet data you need, including accounts, assets, offers, and liquidity pools. See testnet best practices for more information. https://dashboard.stellar.org/

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The Securities, Commodities, and Derivatives Exchange (SECDEX) has been selected by the Seychelles Government to showcase in the Blue Zone at COP28 UAE (30 November - 12 December).

Seychelles-based SECDEX is a regulated financial market infrastructure firm focusing on securities, debt, spot commodities and derivatives contracts in traditional and digital tokenised forms.

In collaboration with sustainability firm Island Carbon Consult, SECDEX will host an event in the Seychelles Pavilion on 4 December.   AssetServicingTimes Link

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Black Friday for US retailers did not go well

For the retailers and brands that count on Black Friday the most, the day was a dud.

Not a good sign for these chains and for the US economy, which needs consumers to keep increasing their spending to avoid a recession. It also raises the risk that the rest of the holiday shopping season will disappoint, forcing retailers to offer more discounts to make up for lost sales.

According to a Bloomberg Second Measure analysis of transaction data, the median decline in Black Friday sales was 4% for a group of 40 companies that derive a higher percentage of their sales for the year from holiday shopping than their peers.

Follow us on Telegram and Twitter 

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Tokenbridge launches services suite

Token aggregator and distribution platform Tokenbridge has launched a suite of services for fund managers, financial advisors and their clients.

Through its token distribution system, Tokenbridge aims to refine operational processes, reducing friction, inefficiencies and risk.

A fully integrated CBDC or Stablecoin cash management solution is available through the platform.
AssetServicingTimes Link

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A joint project by central banks has shown that it's possible to maintain privacy when making payments with national digital currencies.

Project Tourbillon, by the Bank for International Settlements (BIS) Innovation Hub in Switzerland explores payer anonymity with central bank digital currencies (CBDC). A final report on the project published Wednesday shows the central banks looked at payment options where users don't need to disclose personal information to anyone, including the merchant. However, the merchant's identity would be disclosed to their bank when the payment occurs to help reduce tax evasion or illicit payments.

As jurisdictions around the world consider issuing digital versions of sovereign currencies, privacy has emerged as a chief public concern.

https://www.coindesk.com/policy/2023/11/29/central-bank-project-shows-cbdc-payments-can-be-private/

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Bank Announcement:

Bill Comes Due for Large Bank Failures as FDIC Adopts Special Assessment for IDIs With Assets in Excess of $5 Billion

The Federal Deposit Insurance Corporation (the “FDIC”) has issued a final rule that imposes a special assessment on insured depository institutions (“IDIs”) to recover losses realized by the Deposit Insurance Fund (the “DIF”) when Silicon Valley Bank (“SVB”) and Signature Bank (“Signature”) were closed by the regulators earlier this year.

The special assessment is mandated under the Federal Deposit Insurance Act as a means to recover losses to the DIF when the FDIC exercises its systemic risk authority to provide full deposit protection for otherwise uninsured depositors of a failed bank as was the case with the failures of SVB and Signature.

The statute provides the FDIC with broad authority to determine the design and timeframe for the special assessment and to consider a variety of factors including economic conditions and possible effects on the industry. The special assessment is in addition to the regular assessments that IDIs make to secure deposit insurance for their customers.

https://www.jdsupra.com/legalnews/bill-comes-due-for-large-bank-failures-4130486/

BUCKLE UP: Silver & Gold Are Now In Blastoff Mode Along With The Mining Stocks!  

King World News Link

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Project Tourbillon: exploring privacy, security and scalability for CBDCs
https://www.bis.org/publ/othp80.htm

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Standard Chartered becomes the first foreign bank to join China's CBDC pilot testing
Forbes India Link

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BlackRock and JPMorgan have acquired more than 7.5 million XRP, coinciding with the upcoming listing   TheCryptoAlert Link

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Commercial mortgage delinquencies jump at banks       National Mortgage News

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The end of this month marks the first anniversary of the release of the Canadian Indo-Pacific Strategy (CIPS).

It represents a once-in-a-generation strategic shift in Canada’s foreign policy to preserve a rules-based order with like-minded countries like Japan, the U.S., South Korea and political entities such as Taiwan.

Japan and Canada's other friends have a deep interest in CIPS being successfully implemented to contribute to peace and stability in the Indo-Pacific region. They see Canada as a supplier of energy and critical minerals, a diplomatic convener, a country committed to the rule-of-law globally and one that eschews the Machiavellian, might-is-right approach to international affairs.

https://www.japantimes.co.jp/commentary/2023/11/28/japan/canada-indo-pacific-strategy/

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Iraq Economic News and Points to Ponder Wednesday Afternoon 11-29-23

Iraq Economic News and Points to Ponder Wednesday Afternoon 11-29-23

Tlm724 Administrator Bondlady’s Corner

The Dinar Will Recover.. Iraq Is Approaching An “Imminent End” To The Dollar Crisis Before The End Of 2023

 Economy |11-27-2023,  Baghdad today – Baghdad  Today, Monday (November 27, 2023), the Parliamentary Finance Committee commented on the possibility of the Iraqi government succeeding in controlling the dollar by the end of the current year.

Committee member Moeen Al-Kazemi told Baghdad Al-Youm,  “The government and the central bank are working to end the dollar crisis once and for all, and  there is great progress in this file and  there is control over the market, as well as a gradual decline in exchange rates in the parallel market.”

 Al-Kadhimi added,  "We expect that the new year will witness a significant decline in dollar prices with the rise in the value of the Iraqi dinar, especially with the presence of government decisions and directives to address all the causes of the dollar crisis, and we expect that economic and financial stability will be strongly present at the beginning of next year."

Earlier, a senior official in the Central Bank of Iraq told Reuters that the country will ban cash withdrawals and transactions in dollars as of January 1, 2024, in the latest effort to limit the misuse of the country’s hard currency reserves in financial crimes and evade US sanctions on Iran. .

Mazen Ahmed, Director General of the Investment and Transfer Department at the Central Bank of Iraq, told Reuters that the aim of the step is to stop the illegal use of about 50 percent of the $10 billion cash amount that Iraq imports annually from the Federal Reserve Bank in New York.

This step comes as part of a broader campaign to stop the economy's dependence on the dollar after residents began to prefer the US currency over the dinar.  Ahmed said that  people who deposit dollars in banks before the end of 2023 will be able to withdraw money in dollars in 2024. But dollars deposited in 2024 can only be withdrawn in the local currency at the official rate of 1,320 dinars to the dollar.

Official Price

Ahmed said, "You want to transfer money? To do so. You want a card in dollars? Here you go. You can use the card inside Iraq at the official rate, or if you want to withdraw cash, you can at the official rate in dinars... but don't talk to me about dollars in cash anymore."

Iraq has already created a platform to organize bank transfers that make up the bulk of demand for dollars, and which has served as a hotbed for counterfeit receipts and fraudulent transactions that have leaked dollars to Iran and Syria, which are under US sanctions. 

Ahmed stated that  this system, which was put in place in coordination with the authorities in the United States where Iraq's reserves of $120 billion from oil sales are kept, is now almost airtight and provides dollars at the official rate to those who engage in legitimate trade activities such as importing food and consumer goods.  But he said that  the misuse of cash withdrawals continues in ways that include travelers who are officially entitled to $3,000 but are looking for ways to circumvent the system.

Iraq relies heavily on its good relations with Washington to ensure that the country's oil revenues and funds are not subject to American oversight.

Dollar Shortage  

Many local banks have already limited cash withdrawals in dollars over the past few months, exacerbating shortages that have caused the exchange rate to continue to rise in the parallel market. 

Ahmed said that  some banks are suffering from a shortage of dollars because many people are trying to withdraw at the same time in light of a feeling of unease about the financial system, while  some banks are also suffering from a shortage because they provided loans denominated in dollars that were then repaid in dinars. 

He added that  the Central Bank of Iraq also limited the amount of dollars it provides as part of an agreement with the US Central Bank to limit cash liquidity and shift to electronic payments. 

Ahmed pointed out that  the Iraqi Central Bank expects the dinar to lose more of its value as the new measures enter into force, but he added that  this is an acceptable side effect of formalizing the financial system, noting that  the Iraqi Central Bank provides dollars at the official exchange rate for all legitimate purposes.

He said that the cost that Iraq is bearing today is not compared to the value of achieving this goal. 

Ahmed stated that  the financing operations that are carried out transparently and legally through the bank and at the official rate are the most important and therefore nothing else matters, even if the exchange rate reaches 1700.

 He continued, saying,  "The cost we bear now is nothing compared to achieving this goal, in all honesty, as long as the legitimate channels are established.

What matters is even if the exchange rate reaches 1,700... because the legitimate purpose is the official price." https://baghdadtoday.news/236459-الدينار-سيتعافى.-العراق-يقترب-من-نهاية-وشيكة-لأزمة-الدولار-قبل-نهاية-2023.html

The Importance Of Oil And Gas Law

Economic 11/26/2023 Muhammad Sharif Abu Maysam  The importance of the Oil and Gas Law does not stop at establishing the correct mechanisms and methods for managing oil wealth and establishing the correct solutions for resolving oil and gas conflicts and disputes between the producing and contracting parties in a way that enhances confidence in the political system and the judicial institution, as its legislation and entry into force will necessarily contribute to supporting political, security and economic stability.

They will contribute to strengthening national unity, increasing the rule of law, and creating an attractive investment environment that goes beyond promoting investments in the oil sector, and will push towards the urgent need to legislate the Federal Court Law,

respect the constitution, and resolve all points of contention between the center and the region, given that most of the outstanding problems between Baghdad and Erbil are the result of the oil and revenue file. Oil, and most importantly of all,

the legislation of this law will confirm the right of the Iraqi people to own oil and gas wealth as stated in Articles (11 and 12) of the Constitution.

Despite this great importance of legislating the oil and gas law, which prompted the current government to form a committee to study and amend the draft law and then present it to the government and the House of Representatives, political differences are still an obstacle to approving a law that satisfies all parties since 2007 until now, which makes Legislating this law is the biggest challenge under the government's program document applications.

It goes without saying that a legal draft that is not consistent with the constitutional texts will be subject to categorical rejection under the powers of the Federal Court responsible for implementing the constitutional texts.

Anything less than that can be agreed upon through intensifying dialogue sessions between oil and legal experts and those concerned with financial management.

However, such a law will remain. It has been locked away for about sixteen years without legislation under the pretext of political differences.

This is a very strange matter, not only because the justifications for obstruction are illogical in light of the extent of the national importance of its legislation,

but also because the current stage is the most dangerous after the escalation of the conflict between the major oil-consuming countries, in addition to what the country is witnessing. Of major economic transformations, at a time when we are looking forward to implementing the government program, specifically with regard to legislating obstructive laws and resolving disputes related to economic files.

Accordingly, the current committee charged with studying and amending the draft prepared in 2007, over which dialogue took place for years to no avail, is required to work hard, compete for time, and disclose the reality of the obstacles that hinder reaching consensus on the controversial points contained therein, with the aim of forming a public opinion that pressures those responsible. By disrupting.    https://alsabaah.iq/87868-.html

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

https://www.bondladyscorner.com/

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

When we align our thoughts, emotions, and actions with the highest part of ourselves, we are filled with enthusiasm, purpose and meaning. Life is rich and full  -We have no thoughts of bitterness -- we have no memory of fear -- We are joyously and intimately engaged with our world - This is the experience of authentic power

Your intentions create the reality that you experience -- Until you become aware of this - it happens unconsciously - therefore -- be mindful of what you project -- this is the  first step toward authentic power

The journey to authentic power requires that you become conscious of all that you feel

When seen through authentically empowered eyes - a being with a higher rank in creation is one that has more ability to  see without obstruction, more ability to live in love and wisdom - and more ability and desire to help others evolve into the same love and  Light

Continued……….. More to come