"Tidbits From TNT" Sunday 12-17-2023
TNT:
Tishwash: Advisor to the Prime Minister: Iraq today has the highest levels of foreign reserves in its financial history
Advisor to the Prime Minister, Mazhar Saleh, confirmed that Iraq today has the highest levels of foreign reserves in its financial history.
Saleh defended the banking restrictions aimed at “verifying these transfers,” with the aim of reassuring “the international financial community and also for reasons related to Iraqi society: Do these transfers actually go to finance Iraq’s trade?”
He added, “What is happening has nothing to do with the strength of the Iraqi economy. Iraq today is at the highest levels of foreign reserves in its financial history.” Rather, “structural changes have occurred in issues of dealing with foreign currency.” link
TNT:
Tishwash: Advisor to the Prime Minister: Iraq today has the highest levels of foreign reserves in its financial history
Advisor to the Prime Minister, Mazhar Saleh, confirmed that Iraq today has the highest levels of foreign reserves in its financial history.
Saleh defended the banking restrictions aimed at “verifying these transfers,” with the aim of reassuring “the international financial community and also for reasons related to Iraqi society: Do these transfers actually go to finance Iraq’s trade?”
He added, “What is happening has nothing to do with the strength of the Iraqi economy. Iraq today is at the highest levels of foreign reserves in its financial history.” Rather, “structural changes have occurred in issues of dealing with foreign currency.” link
Tishwash: The government is spending 133 trillion dinars from the current year’s budget and revealing the status of employees’ salaries for the new year
Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in a press interview that “delaying the budget releases does not affect employees’ salaries,” indicating that “salaries have been fully secured.”
Al-Karaawi added, “About 130 trillion Iraqi dinars were spent out of the total budget amounting to 199 trillion dinars.”
A member of the Parliamentary Finance Committee pointed out that “delayed projects are among the government’s obligations, and will be proceeded with after disbursing all investment budget allocations.”
For his part, economic affairs specialist Safwan Qusay said in a press interview, “The cessation of oil exports in the Kurdistan region affected Iraqi revenues, but the rise in oil prices in recent months made up for the shortfall.”
Qusay added, “The monthly spending rate is approximately seven trillion dinars, while the budget was built on the basis of 15 trillion dinars, meaning there is an excess in spending.”
The economic affairs specialist pointed out that “the money spent is 80% of the operating budget, and the financial abundance is rotated, given that the budget is for three years.”
Earlier, the Parliamentary Finance Committee confirmed that entering the new year 2024 will not stop the disbursement of funds from the tripartite budget, given that it was approved for three years, while indicating that the committee is awaiting schedules from the government related to spending for the new year.
The head of the committee, Atwan Al-Atwani, said in a statement to the official agency, last week, that " The committee approved a tripartite government budget, and there is no interruption to spending and disbursement, given that the approved budget is for (3) years to ensure the continuation of spending, contracting, and the continuity of the government’s work throughout its years without faltering, as happened in the past, which led to the budget being delayed for more than 6 months.
He added, “With regard to the 2024 budget, the committee is communicating with the government while awaiting its schedules, and it is possible to complete the issue as soon as possible with the aim of sending it to the House of Representatives to vote on it.” link
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Tishwash: The most prominent of which is Japan... a list of countries and banks that have a share of Iraq’s foreign debt
Iraq's total external debt reached $22.6 billion by the end of 2022, according to World Bank data.
According to the data, Japan came as Iraq's largest creditor with a share of 27%, while the share of the International Bank for Reconstruction and Development reached 18% of the total debt, while the share of the United States of America reached 7% of this external debt. link
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CandyKisses: A fruitful week in the footsteps of financial and banking reform
Economy News-
The last week ending on 14/12/2023 witnessed clear activity and efforts by the government and the Central Bank to implement the visions, plans drawn and the roadmap contained in the methodology of financial and banking reform in paragraph 7 and other relevant paragraphs of axis 12 of the government curriculum and the new strategy that the Central Bank is working on for banking reform and foreign trade financing and reconsidering lending policies in accordance with building a national lending strategy that adopts new mechanisms for bank financing and the Riyada initiative to develop the capabilities of young people and allow them to choose
Their small and medium enterprises are pioneering in all areas of development and technology.
In addition to confirming the plans for digital transformation in the financial and banking sector and moving to the community of criticism and focusing clearly on electronic payment applications in all fields and in fruitful cooperation and high coordination with government stakeholders and with the continuous support of the Prime Minister, so it was achieved during the past week and in light of the negotiating visits to organize foreign trade financing conducted by delegations from the Central Bank, the government and banks to Turkey and to the United Arab Emirates and meetings with the US Federal Reserve Bank and the Treasury The United States, the Central Bank of Turkey and the concerned authorities in Turkey include the following:
First: Starting to open accounts for our banks in Turkish lira and euros, with the strengthening of the Central Bank of Iraq in accordance with special arrangements and understandings.
Second: Starting to strengthen the balances of our banks in UAE dirhams and agreeing with First Abu Dhabi Bank on all arrangements clearly.
Third: Finding and strengthening the relations of our banks with foreign correspondent banks, achieving the compliance of the Iraqi banking system with international banking standards, and enhancing the advance balance in our bank accounts, and this will lead to a gradual reduction of dependence on the electronic platform in 2024.
Fourth: Meeting the Central Bank's requests for foreign exchange shipments for the year 2024.
Fifth: Emphasis on the electronic link between the Central Bank, customs, tax, and automation of the customs system and the tax system.
To complement the procedures of the Central Bank to employ the strategy of financial inclusion and electronic payment, the decision of its Board of Directors was issued to establish the National Company for Electronic Payment Systems in Iraq.
Which will regulate, develop and manage the national electronic payment systems with high efficiency, and that the role of the Central Bank will be regulatory and supervisory on these systems, and the implementation and development of the legal and operational framework will be initiated with the participation of all relevant authorities in accordance with the Central Bank Law.
This confirms that the Central Bank and the government are working in coordination and continuous efforts to achieve financial and banking reform, which is the beginning of the successful economic reform.
The central goal is to stabilize the exchange rate and not to accept the existence of another price for trading on the black market higher than the official rate, and to eliminate speculation in the black dollar and damage the national economy
Mot: .... sooo Gals! - What Say You!!!???
Mot: word to the Wise
Iraq Economic News and Points to Ponder Saturday Evening 12-16-23
Iraq Economic News and Points to Ponder Saturday Evening 12-16-23
Tlm724 Administrator Bondlady’s Corner
Dollar Exchange Rates Stabilize With The Stock Market Closing
Market Economy News – Baghdad The prices of the US dollar against the Iraqi dinar closed stable in Baghdad, on Saturday, and rose slightly in Erbil with the closure of the stock market.
Dollar prices stabilized with the closure of the main Kifah and Harithiya stock exchanges in Baghdad, recording 155,900 Iraqi dinars for every 100 dollars, which are the same prices recorded this morning.
Selling prices in banking shops in local markets in Baghdad were stable, as the selling price reached 156,750 Iraqi dinars per 100 dollars, while the purchase price reached 154,750 dinars per 100 dollars.
Iraq Economic News and Points to Ponder Saturday Evening 12-16-23
Tlm724 Administrator Bondlady’s Corner
Dollar Exchange Rates Stabilize With The Stock Market Closing
Market Economy News – Baghdad The prices of the US dollar against the Iraqi dinar closed stable in Baghdad, on Saturday, and rose slightly in Erbil with the closure of the stock market.
Dollar prices stabilized with the closure of the main Kifah and Harithiya stock exchanges in Baghdad, recording 155,900 Iraqi dinars for every 100 dollars, which are the same prices recorded this morning.
Selling prices in banking shops in local markets in Baghdad were stable, as the selling price reached 156,750 Iraqi dinars per 100 dollars, while the purchase price reached 154,750 dinars per 100 dollars.
In Erbil, the dollar recorded a slight increase, as the selling price reached 156,150 dinars per 100 dollars, and the purchase price reached 156,050 dinars per 100 dollars.
Views 35 12/16/2023 - https://economy-news.net/content.php?id=38555
Nechirvan Barzani Discusses With Plasschaert The Political And Security Situation In Iraq
The President of the Kurdistan Region discussed with the Special Representative of the Secretary-General of the United Nations in Iraq, The political and security situation, in addition to the Iraqi provincial council elections
According to a statement issued by the regional presidency, Nechirvan Barzani met with the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert, today, Saturday. I agree The two sides are of the opinion on “the importance of conducting and successful voting in council elections.” Governorates in Iraq, and discussed the relations between Erbil and Baghdad.
Barzani and Plasschaert stressed the importance of protecting security The operation is to take place in a safe and stable atmosphere, especially in the areas covered by Article 140 From the permanent Iraqi constitution.
Regarding relations between Erbil and Baghdad, values The two sides positively expressed the efforts and role of Muhammad Shiaa Al-Sudani, the Iraqi Prime Minister, "The hope of strengthening relations between the federal government and the Kurdistan Regional Government during The next stage is to resolve the outstanding problems between the two sides on the basis of the constitution.
As for “the latest developments in the complex situation in... The Middle East and its repercussions It was another focus of the meeting. https://www.radionawa.com/all-detail.aspx?jimare=36627
Oil Prices Record Their First Weekly Gains In Two Months
Saturday 16, December 2023 10:48 | Economic Number of readings: 764 Baghdad /Nina/ Oil prices ended the session yesterday, Friday, with a slight decline after a volatile session during which prices fell by more than a dollar per barrel, in light of traders trying to absorb mixed signals related to... The size of the demand for oil next year.
Brent crude futures fell six cents, or 0.08%, to $76.55 per barrel upon settlement, while recording weekly gains of 0.9% in the first weekly rise in 8 weeks.
US West Texas Intermediate crude fell 15 cents, or 0.21%, to $71.43, while it increased by 0.8% during the week.
The market faltered earlier in the session after a survey of manufacturing activity issued by the Federal Reserve Bank of New York showed a decline in new orders for the third month, which may be an indication of weak demand for oil next year, according to “Reuters.” To receive more news, subscribe to our channel on Telegram These estimates for 2024 are less than half of the Organization of the Petroleum Exporting Countries (OPEC) expectations for demand growth of 2.25 million barrels per day.
The International Energy Agency said in a monthly report that global oil consumption will rise by 1.1 million barrels per day in 2024, an increase of 130,000 barrels per day from its previous expectations, and attributed this to improved demand expectations in the United States and lower oil prices. The decline in the dollar makes the oil in which it is denominated cheaper for buyers abroad.
The dollar fell to its lowest level in four months on Thursday after Powell's comments in which he expected to reduce borrowing costs in 2024. The dollar index remained largely stable yesterday, Friday.
Last Thursday, Federal Reserve Chairman Jerome Powell said that the cycle of raising interest rates with the aim of curbing inflation is likely to have ended, but he left the door open to the possibility of raising them again.
Traders were also affected by comments from New York Federal Reserve Bank President John Williams on Friday about hopes for lowering interest rates next year.
https://ninanews.com/Website/News/Details?key=1095596
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Provoking Points To Ponder From- QUOTES BY KAHLIL GIBRAN
Work is love made visible. And if you cannot work with love but only with distaste, it is better that you should leave your work and sit at the gate of the temple and take alms of those who work with joy.
Yes, there is a Nirvanah; it is in leading your sheep to a green pasture, and in putting your child to sleep, and in writing the last line of your poem.
You give but little when you give of your possessions. It is when you give of yourself that you truly give.
Friendship is always a sweet responsibility, never an opportunity.
Doubt is a pain too lonely to know that faith is his twin brother.
You pray in your distress and in your need; would that you might also pray in the fullness of your joy and in your days of abundance.
The obvious is that which is never seen until someone expresses it simply.
Your daily life is your temple and your religion.
The biggest thing in today's sorrow is the memory of yesterday's joy
We choose our joys and sorrows long before we experience them.
Reason, ruling alone, is a force confining; and passion, unattended, is a flame that burns to its own destruction.
Much of your pain is the bitter potion by which the physician within you heals your sick self.
Your pain is the breaking of the shell that encloses your understanding
Ever has it been that love knows not its own depth until the hour of separation.
Life without love is like a tree without blossom and fruit.
The chemist who can extract from his heart's elements compassion, respect, longing, patience, regret, surprise, and forgiveness and compound them into one can create that atom which is called love.
Famous Quotes and Authors, Famous Quotations for all Occasions
Goldilocks' Comments and Global Economic News Saturday Evening 12-16-23
Goldilocks' Comments and Global Economic News Saturday Evening 12-16-23
Good Evening Dinar Recaps,
"CFTC Approves Proposed Amendments to Regulations Regarding Real-Time Public Reporting and Swap Data Recordkeeping and Reporting Requirements"
This new data collection is expected to harmonize International Data swap transactions that take place on the Forex Market. It begins on January 1st, 2024.
It is designed to create accurate and efficient reporting of the data being transferred back and forth between cross-border International trading.
The UPI is expected to adopt and use this new reporting rule on January 29th, 2024. The Unified Payments Interface is the foreign currency mechanism that India is going to use next year in International trade between countries.
Goldilocks' Comments and Global Economic News Saturday Evening 12-16-23
Good Evening Dinar Recaps,
"CFTC Approves Proposed Amendments to Regulations Regarding Real-Time Public Reporting and Swap Data Recordkeeping and Reporting Requirements"
This new data collection is expected to harmonize International Data swap transactions that take place on the Forex Market. It begins on January 1st, 2024.
It is designed to create accurate and efficient reporting of the data being transferred back and forth between cross-border International trading.
The UPI is expected to adopt and use this new reporting rule on January 29th, 2024. The Unified Payments Interface is the foreign currency mechanism that India is going to use next year in International trade between countries.
Iraq, Vietnam, and Indonesia are three of several countries that will utilize this UPI interface.
It will allow several Banks across the world to exchange on the Forex Market under one digital mechanism.
© Goldilocks
CFTC Link 1
CFTC Link 2
CFTC Link 3
CFTC Link 4
CFTC Link 5
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Trade digitalization will boost Vietnam's connection on the global stage
"Digitalization offers opportunities for a country to engage in international trade, benefiting micro, small, and medium-sized enterprises, although there will be regulatory challenges, according to HSBC."
Vietnam is finishing up their version of the QFS system to be interfaced with the overall system this month as their assets are supposed to be tokenized as of yesterday.
Vietnam already has Basel 3 compliance to support their markets through a banking system fully compliant in commodity backing.
These new opportunities and new demands to move into the international world will begin creating price pressures on their currency going forward.
© Goldilocks
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BRICS alliance is set to expand with 14 more countries expressing interest in joining.
This expansion represents a shift in global economic alliances, challenging traditional power structures.
The potential addition of new members indicates BRICS’s growing influence and the move towards a multipolar world order.
https://www.cryptopolitan.com/4-more-countries-lined-up-to-join-brics/
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BRICS Rises: A Changing Balance in Global Power? Modern Diplomacy Link
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Yuan Growing in Use in Cross-Border Trade
The yuan is increasingly used to settle cross-border payments with China.
Indeed, the number of transactions between China and the rest of the world settled in yuan has grown by 24% in the first three quarters of this year alone.
The yuan now accounts for more than 50% of China’s global transactions for the first time, having dislodged the once-dominant U.S. dollar earlier this year. The Kiplinger Letter Link
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AI will level the playing field for SMB warehouses
“Where we see a main change [in warehousing automation] happening next year and the next couple of years is that more mobile solutions are accessible through your phone or an app. You can bring automation and AI tools to warehouse companies that might not necessarily have the funding, time and resources to do a fully automated warehouse but still want to elevate their processes by providing warehouse automation functionality in their system to become more competitive.”
https://finance.yahoo.com/news/ai-level-playing-field-smb-170000383.html
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XRP To Unleash Trillions In Idle Liquidity & Simplify Global Transactions
https://youtube.com/shorts/6B8LZK_W8jI?feature=shared
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Global bank regulator tightens rules for inclusion in top stablecoin ranking
The standards sort stablecoins into Group 1b and Group 2
The Basel Committee proposed adjustments to banks’ exposure to crypto assets. Comments are open until March 24.
Group 1b crypto assets preferential regulatory treatment subject to existing capital framework.
Group 2 stablecoins face highly conservative capital treatment.
1b Stablecoins Appropriate composition of reserves and statistical tests to identify low-risk stablecoins.
Risk management framework to assess market, credit, liquidity, and concentration risk.
Stablecoins pegged to currencies reserves to include short-term maturities and high credit quality with a proven record of relative stability and sufficient liquidity for 'instant' redemption.
Banks to perform due diligence regularly to ensure adequate stabilization mechanisms and effectiveness.
S&P Global Ratings first assessment of 8 stablecoins this week Tether 'constrained', Frax 'weak' USDC 'strong' assessment.
https://blockworks.co/news/basel-commitee-tightens-stablecoin-rules
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What will digital transformation look like in 2024? FinTech Magazine Link
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BRICS to Make Major Announcement in 2024?
https://watcher.guru/news/brics-to-make-major-announcement-in-2024
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Ripple has joined forces with BIS on a groundbreaking initiative to reshape the global FX market.
Project Mariana has sought to revolutionize FX trading using innovative tokenized financial systems.
Successful testing of wCBDCs has demonstrated the potential for cross-border FX transactions.
Read more on DailyCoin: https://dailycoin.com/ripple-bis-aim-transform-7-5-trillion-forex-market/
👆 Goldilocks pointed to this article
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India Proposes Local Currency Use in Trade with Indonesia Jakarta Globe Link
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US to award BAE $35 million to supply chips for F-35
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Statement of the Iraq Economic Contact Group of the G7, European Union and World Bank
Statement of the Iraq Economic Contact Group of the G7, European Union and World Bank
December 2023
On December 12, the Iraq Economic Contact Group (IECG) held the final meeting of 2023, co-chaired by Italy and the United States.
As friends and partners of Iraq, Canada, France, Germany, Italy, Japan, the European Union, the United Kingdom, the United States, and the World Bank commit to supporting Iraq in the implementation of a comprehensive and ambitious reform agenda, paving the way to sustainable and inclusive economic development.
The IECG is eager to strengthen its engagement with the Government of Iraq (GOI) through regular dialogue at both the political and technical level. This engagement is crucial to streamline cooperation between the two sides, identify and support common goals, and support the GOI’s priority reform areas. The IECG commends Prime Minister Mohammed Shiaa al-Sudani for appointing business and economics experts within his office and looks forward to collaborating with them.
Statement of the Iraq Economic Contact Group of the G7, European Union and World Bank
December 2023
On December 12, the Iraq Economic Contact Group (IECG) held the final meeting of 2023, co-chaired by Italy and the United States.
As friends and partners of Iraq, Canada, France, Germany, Italy, Japan, the European Union, the United Kingdom, the United States, and the World Bank commit to supporting Iraq in the implementation of a comprehensive and ambitious reform agenda, paving the way to sustainable and inclusive economic development.
The IECG is eager to strengthen its engagement with the Government of Iraq (GOI) through regular dialogue at both the political and technical level. This engagement is crucial to streamline cooperation between the two sides, identify and support common goals, and support the GOI’s priority reform areas. The IECG commends Prime Minister Mohammed Shiaa al-Sudani for appointing business and economics experts within his office and looks forward to collaborating with them.
The IECG was encouraged by Prime Minister Sudani’s announcement of new economic reform initiatives throughout 2023 and the passing of a historic three-year budget that laid the foundation for implementation of the government’s reform agenda. In October, Iraq gained membership to the European Bank of Reconstruction and Development (EBRD) – a move strongly supported by the IECG as the first step to unlocking new sources of investment and enhanced cooperation with other multilateral and bilateral financial facilities.
In the past month, the government convened conferences on Public Private Partnerships (PPPs) and tax reform, including a new bank sector reform project with Rafidain Bank. Further, the GOI recently announced the establishment of the Iraq Fund for Development (IFD) alongside the Development Road project, and the Prime Minister strengthened economic ties with regional partners. The GOI’s efforts to expand the use of digital platforms for financial transactions, with electronic payment and other e-commerce mechanisms, represent important steps to minimize the informal economy and reduce opportunities for corruption.
Looking ahead to next year, the IECG welcomes further cooperation in support of Iraq’s economic and financial sector development, including Prime Minister Sudani’s policies to strengthen the dinar and oversee monetary policy. Clear communication of new dinar policies during the transition period will help avoid adverse effects on Iraqi households and businesses as well as on development cooperation projects and foreign investments in Iraq.
The IECG also stands ready to support Iraq’s next steps to becoming an EBRD Country of Operations, its journey toward World Trade Organization accession, and its potential partnership with the European Investment Bank (EIB). EIB’s expertise in road, railroad, water and sanitation investments, climate action, environmental sustainability financing as well as urban transmission initiatives will accelerate key infrastructure measures and help facilitate a green transition.
The IECG urges further attention in 2024 to address the deficit and public sector wage bill, measures that would improve fiscal resilience. Timely budget execution will be critical to the GOI’s ability to sustain important infrastructure investment, particularly in expanding domestic power generation, distribution, and expansion of green energy. Long-term sustainable economic development is contingent on a dedicated response to pressing climate and environmental challenges. Sustained investment in water management and infrastructure is critical to counteract the debilitating impacts of climate change.
To accelerate private sector growth, the IECG encourages government action to identify and address the challenges faced by domestic and international business, including efforts to promote transparent and predictable regulations. In this vein, we welcome further progress on the PPP, Companies, Industrial Investment, Customs, and Arbitration laws as well as timely implementation of the recommendations from the recent PPP and tax reform conferences.
On January 1, Italy and the United States proudly hand over the IECG to incoming co-chairs France and the United Kingdom. Under their leadership, the IECG will continue to support an ambitious reform agenda, promote sustainable economic development, and stand by Iraq’s side as a reliable friend and partner in 2024.
Ambassador, Economic Opportunity, Events, News, Speeches & Statements
https://iq.usembassy.gov/statement-of-the-iraq-economic-contact-group-of-the-g7/
"Tidbits From TNT" Saturday 12-16-2023
TNT:
CandyKisses: Member of the parliamentary investment: an economic forum in Iraq attended by giant foreign companies
{Economic: Al-Furat News} A member of the Parliamentary Investment Committee, Asaad Al-Bazouni, stressed the country's need for investment projects in economic development, agricultural and industrial fields, and health.
Al-Bazouni told Al-Furat News that "Basra is a good incubator for investment, especially foreign investment, as large foreign companies intend to invest in the province, and all this requires security stability to attract investors."
He pointed out that "the adoption of the Ministry of Industry for the Forum of Investment Partnerships in the presence of investors and giant foreign companies is a good step with the presence of the security, investment and environmental incubator."
TNT:
CandyKisses: Member of the parliamentary investment: an economic forum in Iraq attended by giant foreign companies
{Economic: Al-Furat News} A member of the Parliamentary Investment Committee, Asaad Al-Bazouni, stressed the country's need for investment projects in economic development, agricultural and industrial fields, and health.
Al-Bazouni told Al-Furat News that "Basra is a good incubator for investment, especially foreign investment, as large foreign companies intend to invest in the province, and all this requires security stability to attract investors."
He pointed out that "the adoption of the Ministry of Industry for the Forum of Investment Partnerships in the presence of investors and giant foreign companies is a good step with the presence of the security, investment and environmental incubator."
CandyKisses: Two people arrested for manipulating exchange rates through shell companies
Baghdad Today - Baghdad
Today, Friday (December 15, 2023), the General Directorate of Intelligence and Security announced the arrest of two defendants for manipulating exchange rates through shell companies.
A statement by the directorate, received by "Baghdad Today", said that "through careful field follow-up of speculators in exchange rate rates contrary to official instructions and after obtaining judicial approvals, the detachments of the Directorate of Intelligence and Security of Baghdad affiliated to the General Directorate of Intelligence and Security at the Ministry of Defense were able to adjust one of the fictitious companies in the Arsat area in Baghdad, which carries out internal and external remittance operations contrary to the instructions of the Central Bank of Iraq, which negatively affects the national economy and creates a crisis and currency price conflict."
He added, "Two defendants were arrested and were caught in possession of a sum of money amounting to one million US dollars, where the necessary measures were taken against them and referred to the competent authorities."
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CandyKisses: The Association of Banks announces the imminent death of the parallel dollar market
Baghdad - Iraq Today:
The Association of Iraqi Private Banks said that the battle with dollar speculators has reached its last round, and the so-called parallel dollar (black) began to die, and while praising the procedures of the Central Bank to regulate the movement of funds in order to achieve financial reform and the bank, it stressed that it will contribute to reclassifying banks, increasing their capital and raising the level of services provided to citizens.
Samir Al-Nasiri, economic and banking advisor to the Association, said in a press statement: "The Central Bank's procedures and efforts made since the beginning of 2023 and with the support of the government have borne fruit and began to give their results as planned, and the so-called parallel dollar (black) began to die and the speculators who deal with it were besieged to harm the national economy and currently the battle with them in the last round."
He added, "This is what was explained in detailed procedures and administrative, technical and negotiating steps with the US Federal Bank and the US Department of the Treasury, and the understandings on regulating foreign trade financing by approving the opening of accounts for Iraqi banks in US, Chinese, Emirati and Turkish correspondent banks to deal directly with them for foreign transfers in the currencies of these countries, which include the dollar, the euro, the Chinese yuan, the Indian rupee, the UAE dirham and the Turkish lira, leaving the electronic platform in 2024 and supplying dollars and currencies foreign banks into Iraq from Iraqi bank accounts with correspondent banks or abroad."
"Reaching agreements to open 40 accounts for Iraqi banks in correspondent banks for foreign trade," al-Nasiri said, noting that "the central bank's new strategy to reform the banking sector will adopt reclassifying banks and increasing their capital to the ceiling set by the central bank according to the specified timelines until the end of 2024, which will raise the capabilities of our banks to provide the best banking products and services to customers, which will reflect positively on the movement of the economy, investment, development and the transition to comprehensive digital transformation."
He added that "since the beginning of 2023, financial policies have been reviewed in accordance with a new vision for banking reform that complies with the requirements of the global financial system, and a new strategy has begun to be implemented with mechanisms based on studying and diagnosing the causes of imbalances and determining the roadmap, steps and executive procedures that have been and will be applied at the level of the Central Bank departments, banks, banking support bodies and government agencies related to comprehensive economic reform, as the Central Bank has previously issued new instructions for external transfers for the year 2023. And three procedural packages to facilitate and control the movement of circulation of foreign currency in the monetary and commercial market."
Al-Nasiri added that "the Central Bank issued in August of this year its important statement, in which it outlined its new strategy to organize foreign trade financing according to new foundations that move Iraq to the stage of regularity in the global financial system, in which it clarified the executive measures to control the stability of the exchange rate, and the most prominent of what is stated in it:
Adopting the electronic platform exclusively for foreign remittance transactions, controlling illegal trade through official and informal border crossings, and stopping trading and dollar transactions on the black market. Preventing all websites and media television channels from publishing exchange rates on the black market for violating the law, importers proving that all their imports were made through the platform at the official price, and the Customs Authority and the General Tax Authority implementing proposals and treatments for the entry of small traders to the platform duly, and this is in line with the government's initiative to launch the national project to control prohibited imports.
He continued, "As we are in the last days of 2023, the Central Bank's strategy for banking reform in all its axes has become clear features for the coming year 2024 and subsequent years, and it is an embodiment of what it set out in the roadmap that he explained in the roadmap that he explained in theWe are with the government in accordance with the provisions of the government curriculum in axis 12 (financial and banking reform) and paragraph 7 thereof, which is related to the development and empowerment of banks to contribute to development and investment."
He explained that "we can summarize here the plan of the Central Bank, which is currently working to implement it accurately and as follows: First:
Providing a stable financial system that lies in accompanying financial electronic systems.
Second: Commitment to establishing the rules of compliance, risk management, transparency and integrity of financial operations.
Third: The transition from the monetary economy to the digital economy and the so-called fourth revolution and the accompanying measures that have achieved a qualitative leap in dealing between the government and the Central Bank.
Fourth: Implementing the financial and banking reform plan that is characterized by international standards that keep pace with global developments in the field of financial digital economy.
Fifth: Work to strengthen international relations, including the establishment of a network of relations with foreign correspondent banks.
Establishing Riyada Bank in line with the Prime Minister's initiative and redirecting work on initiatives to finance small and medium enterprises according to specific criteria.
Preparing and launching a strategy for financial inclusion and putting it into implementation in coordination with the relevant authorities.
Launching the national lending strategy based on the financial capabilities of banks in attracting deposits and investing them in providing the best banking products to customers and contributing to development.
Mot: It’s a process….
Mot: Wrapping Paper
MilitiaMan: IRAQ - G7 - World Bank - European Union - World Bank - IMF - International - WTO - Iraq Dinar Value
IRAQ - G7 - World Bank - European Union - World Bank - IMF - International - WTO - Iraq Dinar Value
MilitiaMan and Crew: 12-15-2023
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
IRAQ - G7 - World Bank - European Union - World Bank - IMF - International - WTO - Iraq Dinar Value
MilitiaMan and Crew: 12-15-2023
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Goldilocks' Comments and Global Economic News Friday Evening 12-15-23
Goldilocks' Comments and Global Economic News Friday Evening 12-15-23
Good Evening Dinar Recaps,
I gave you an article this morning to help you get an idea of what still needs to happen on January 1st, 2024 regarding the setting of rates whether it be a RV or a float. Nothing happens without support on a currency to justify a new rate. I hope these articles help you understand the process.
Having said all of this to you, we are moving into a tokenized asset-based economy that will influence new factors and new prices on every sector of the market including Forex.
At least we can say, we are on the anticipatory side of watching for something to happen at the beginning of next year. I would give you an opinion, but you already get a lot of that already.
Goldilocks' Comments and Global Economic News Friday Evening 12-15-23
Good Evening Dinar Recaps,
I gave you an article this morning to help you get an idea of what still needs to happen on January 1st, 2024 regarding the setting of rates whether it be a RV or a float. Nothing happens without support on a currency to justify a new rate. I hope these articles help you understand the process.
Having said all of this to you, we are moving into a tokenized asset-based economy that will influence new factors and new prices on every sector of the market including Forex.
At least we can say, we are on the anticipatory side of watching for something to happen at the beginning of next year. I would give you an opinion, but you already get a lot of that already.
Let's watch for the facts. We already know of three factors that will begin to change our new digital economy, especially the currency values:
* Interest rates being higher will strengthen our currencies.
* A real value placed on gold.
* And, tokenized assets based on real values in the commodity sector and utility tokens create supportive levels of demand to justify their values.
© Goldilocks
Investopedia Link
RBA Link
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Just a reminder, this room is for people who want to know what is going on behind the scenes inside the banking system as it happens.
We don't make guesses in this room. We make one simple promise. To give you as much of a clear picture as we can on what is happening in the banking system from real sources and real contacts that do not over-inflate the truth.
No one is getting paid for the information that comes into and from this room. It is a collective effort from the hearts of those who want you to know.
© Goldilocks
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SEC Meets With Blackrock, Fidelity, Franklin Templeton, and Grayscale to Discuss Their Spot Bitcoin ETF Applications Regulation Bitcoin News
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USD Backed Stablecoin On XRP https://youtu.be/LRoSGkvSyow?feature=shared
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Fnality launches DLT wholesale payment system in UK - Ledger Insights - blockchain for enterprise
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2024: will this be the year of truly digital trade? FinExtra Link
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12/15/2023 Salty spoke to Okie. He has fallen 6 times in the last 5 days. He laid on he floor for around 6 hours one time. He said his balance is bad and he feels dizzy all the time. PLEASE say a prayer for him.
We have so many in need and this time of the year is hard raising funds. If Okie can raise the funds he will do another stem cell treatment. Okie Website Donation Link
Thank you from the Seeds of Wisdom Community
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Iraq Economic News and Points to Ponder Late Friday Evening 12-15-23
Iraq Economic News and Points to Ponder Late Friday Evening 12-15-23
Tlm724 Administrator Bondlady’s Corner
Oil Prices Rise 3 Percent Due To The Decline In The Dollar
Friday 15, December 2023 09:45 | Economic Number of readings: 468 Baghdad/NINA/ Oil prices rose, today, Friday, three percent at settlement, continuing their gains from the last session, supported by the decline of the dollar, and the International Energy Agency raised its expectations for demand for... Oil next year.
Brent crude futures rose $2.35, or 3.2 percent, to $76.61 per barrel upon settlement, and US West Texas Intermediate crude increased $2.11, or three percent, to $71.58.
The oil markets achieved positive results after they fell to their lowest levels in approximately six months during yesterday’s session.
Iraq Economic News and Points to Ponder Late Friday Evening 12-15-23
Tlm724 Administrator Bondlady’s Corner
Oil Prices Rise 3 Percent Due To The Decline In The Dollar
Friday 15, December 2023 09:45 | Economic Number of readings: 468 Baghdad/NINA/ Oil prices rose, today, Friday, three percent at settlement, continuing their gains from the last session, supported by the decline of the dollar, and the International Energy Agency raised its expectations for demand for... Oil next year.
Brent crude futures rose $2.35, or 3.2 percent, to $76.61 per barrel upon settlement, and US West Texas Intermediate crude increased $2.11, or three percent, to $71.58.
The oil markets achieved positive results after they fell to their lowest levels in approximately six months during yesterday’s session.
The dollar fell to its lowest level in four months after the latest economic forecasts of the Federal Reserve (the US central bank) indicated that the cycle of raising interest rates has ended and lowering borrowing costs will occur in 2024.
The International Energy Agency said in a monthly report today: Global oil consumption will rise by 1.1 million barrels per day in 2024, an increase of 130 thousand barrels per day from its previous expectations, indicating improved expectations for the United States and lower oil prices./End 2
https://ninanews.com/Website/News/Details?key=1095439
The Presidency Of The Republic Announces Its Support For The Government’s Measures To Establish Security And Prevent The Targeting Of Diplomatic Missions
Friday 15, December 2023 12:00 | Wish Number of readings: 386 Baghdad/NINA/The Presidency of the Republic announced, today, Friday, its support for the government’s measures to establish security and prevent the targeting of diplomatic missions.
The Presidency's Media Department said in a statement: " The Presidency of the Republic declares its full support for the measures taken by the government to establish security and stability and prevent illegal actions and operations targeting diplomatic missions and Iraqi government institutions that aim to stabilize the country, violate Iraq’s sovereignty, and distort its image before the international community.
She added: “The Presidency of the Republic supports the security measures and plans taken recently, including holding accountable all security forces responsible for the security sector in the area where the attack occurred. We would like to clarify that the aforementioned presidential regiment has been under the command of the Third Brigade of the Federal Police since 2015.” End2
https://ninanews.com/Website/News/Details?key=1095450
Al-Rafidain Announces The Continuation Of Opening Bank Accounts And Issuing Electronic Cards
Friday 15, December 2023 09:29 | Economic Number of readings: 478 Baghdad/NINA/ The Rafidain Bank announced, today, Friday, the continuation of opening bank accounts and issuing electronic cards.
A statement from the bank stated, “The bank continues to open bank accounts and issue electronic cards as part of the plan to implement electronic payment and electronic collection of taxes.”/ End 2
Iraq And Saudi Arabia Agree To Coordinate Positions And Support Anti-Corruption Projects
Time: 12/15/2023 16:03:10 Read: 468 times {Local: Al-Furat News} The Integrity Commission announced the agreement of the delegations of the Republic of Iraq and the Kingdom of Saudi Arabia, on the sidelines of the tenth session of the states parties to the United Nations Convention against Corruption, to coordinate positions and support anti-corruption projects.
A statement by the Integrity Commission stated that “the Iraqi delegation represented by the head of the Federal Integrity Commission, Judge Haider Hanoun, discussed with the Saudi delegation headed by the head of the Oversight and Anti-Corruption Commission (Mazen bin Ibrahim Al-Kahmous) unification of positions and coordination between them regarding anti-corruption projects.” It is planned to be presented as part of the conference’s work.
During the meeting, Hanoun praised “the country assessment project presented by the Kingdom of Saudi Arabia,” Stressing that “the Iraqi delegation strongly supports the Kingdom’s proposals and projects included in the conference’s work and recommendations,” Pointing out that “Saudi decisions and their success are considered Iraq’s success, calling for consideration of presenting human rights standards in accordance with the principles and morals of Arab countries and the values and ideals of Islam.”
Hanoun affirmed “the Republic of Iraq’s support for the Nazaha Global Initiative.” To measure corruption launched by the Kingdom of Saudi Arabia, which is one of the biggest challenges facing many countries, which is the lack of objective indicators to measure the progress that countries are making in the field of combating corruption," Stressing that “the evaluation must be objective, free of any impurities that could make it have a political character, and that it must be based on facts, numbers, and scientific data.”
For his part, the head of the Saudi Oversight and Anti-Corruption Authority expressed his happiness at strengthening and consolidating relations between Arab countries and the mutual endeavor to support the proposals and projects that emerge from them and the cooperation that he sensed from the Iraqi delegation, represented by the head of the authority, wishing the Republic of Iraq, its institutions and its people Development, prosperity, and progress in the field of combating corruption, stressing that the memorandum of understanding to be concluded between the Iraqi Federal Integrity Commission and the Saudi Oversight and Anti-Corruption Commission is in the final stages of preparation.
In a related context, the Chief of Integrity met with his Jordanian counterpart ( Muhannad Ali Ibrahim Hegazy) “During the meeting, they discussed cooperation mechanisms in combating corruption, recovering funds and defendants, removing obstacles to that, and emphasizing putting the final touches to the memorandum of understanding between the two parties. Its conclusion will be announced in the next month. LINK
Member Of Parliamentary Investment: An Economic Forum In Iraq Attended By Giant Foreign Companies
Time: 12/15/2023 Read: 1,573 times {Economic: Al-Furat News} Member of the Parliamentary Investment Committee, Asaad Al-Bazouni, stressed the country’s need for investment projects in economic development, agricultural, industrial, and health fields.
Al-Bazouni told Al-Furat News Agency, “Basra is considered a good incubator for investment, especially foreign investment, as large foreign companies intend to invest in the province, and all of this requires security stability to attract investors.”
He stated that “the Ministry of Industry’s adoption of the Investment Partnerships Forum in the presence of investors and giant foreign companies is considered a good step with the presence of the security, investment and environmental incubator.” LINK
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Provoking Points To Ponder From- QUOTES BY KAHLIL GIBRAN
If the other person injures you, you may forget the injury; but if you injure him you will always remember.
They deem me mad because I will not sell my days for gold; and I deem them mad because they think my days have a price.
The significance of a man is not in what he attains but rather in what he longs to attain.
The tiny flame that lights up the human heart is like a blazing torch that comes down from heaven to light up the paths of mankind. For in one soul are contained the hopes and feelings of all Mankind.
Let there be spaces in your togetherness.
No man can reveal to you aught but that which already lies half asleep in the dawning of your knowledge.
Goldilocks' Comments and Global Economic News Friday AM 12-15-23
Goldilocks' Comments and Global Economic News Friday AM 12-15-23
Good Morning Dinar Recaps,
Iraq has completed all of their banking competencies required by the CBI in Iraq to meet International Banking Standards. And tomorrow, they are expected to finish their banking reforms with their managers per a recent article.
At this time, they will have two weeks to do logistics training with their employees to prepare them for working with International Exchange going forward and only using the Iraqi Dinar locally.
Iraq has signed a number of agreements around the world to begin trading beyond their borders, and they have exchanged currencies with several countries to enable them to move forward with exports and imports.
Goldilocks' Comments and Global Economic News Friday AM 12-15-23
Good Morning Dinar Recaps,
Iraq has completed all of their banking competencies required by the CBI in Iraq to meet International Banking Standards. And tomorrow, they are expected to finish their banking reforms with their managers per a recent article.
At this time, they will have two weeks to do logistics training with their employees to prepare them for working with International Exchange going forward and only using the Iraqi Dinar locally.
Iraq has signed a number of agreements around the world to begin trading beyond their borders, and they have exchanged currencies with several countries to enable them to move forward with exports and imports.
The article below is a confirmation regarding the completion of a year-long set of economic reforms. It celebrates the work that they have done to achieve International standing in the banking system.
© Goldilocks
https://cbi.iq/news/view/2486
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How Are International Exchange Rates Set? Investopedia Link
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Exchange Rates and their Measurement | Explainer | Education RBA Link
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"Tidbits From TNT" Friday Morning 12-15-2023
TNT:
Tishwash: Member of Parliamentary Investment: An economic forum in Iraq attended by giant foreign companies
Member of the Parliamentary Investment Committee, Asaad Al-Bazouni, stressed the country’s need for investment projects in economic development, agricultural, industrial, and health fields.
Al-Bazouni told {Al-Furat News} agency, “Basra is considered a good incubator for investment, especially foreign investment, as large foreign companies intend to invest in the province, and all of this requires security stability to attract investors.”
He stated that “the Ministry of Industry’s adoption of the Investment Partnerships Forum in the presence of investors and giant foreign companies is considered a good step with the presence of the security, investment and environmental incubator.” link
TNT:
Tishwash: Member of Parliamentary Investment: An economic forum in Iraq attended by giant foreign companies
Member of the Parliamentary Investment Committee, Asaad Al-Bazouni, stressed the country’s need for investment projects in economic development, agricultural, industrial, and health fields.
Al-Bazouni told {Al-Furat News} agency, “Basra is considered a good incubator for investment, especially foreign investment, as large foreign companies intend to invest in the province, and all of this requires security stability to attract investors.”
He stated that “the Ministry of Industry’s adoption of the Investment Partnerships Forum in the presence of investors and giant foreign companies is considered a good step with the presence of the security, investment and environmental incubator.” link
CandyKisses: Sudani: Economic reform is its gateway to financial and banking reform
Prime Minister Mohammed Shiaa Al-Sudani said on Thursday that: "Economic reform is its gateway to financial and banking reform," while noting that "the government is committed to providing the dollar at the official price, and stressed its keenness to end the suffering of Kurdistan employees due to their salary delays,"
Al-Sudani said in a televised interview followed by "informed" that: "Conducting the population census is the first steps to implement Article 140 of the Constitution was postponed to 2024 after it was scheduled to be held this year because of the provincial council elections," pointing out that "it is time to raise the outstanding problems between Baghdad and Erbil, which lies at the border and budget ports."
He added, "We went to borrow from the Ministry of Finance to pay the salaries of the employees of the Kurdistan region and we are with finding a solution with a legal amendment that considers the employees of the Kurdistan region like the rest of Iraq's employees," stressing that "the government is keen to end the suffering of the crisis of the salaries of Kurdistan employees."
On the other hand, "economic reform is its gateway to financial and banking reform and the issue of the exchange rate requires this reform and we are committed to providing the dollar at the official rate to traders, investors, contractors, students and travelers."
He pointed out that "95 percent of our trade now passes through the electronic platform and there are those who circumvent the law and buy the dollar at the parallel price because he does not want to implement legal procedures."
“We will not accept that the official dollar rate is equal to the parallel rate because it encourages smuggling,” he stressed. On foreign trade, Al-Sudani said: "There is no problem for the Iranian side in dealing with trade with Iraq in dinars or toman."
“The problem of commercial transfers to Turkey has been solved by opening accounts in Turkish lira,” he continued. He stressed that "food prices have remained stable, despite the attempt of manipulators to speculate on the price of the dollar."
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CandyKisses: Electoral silence comes into effect in preparation for local elections in Iraq
Baghdad today - Baghdad
The period of electoral silence entered into force today, Friday (December 15, 2023), in preparation for the start of the voting process for the governorate council elections.
The special voting elections will be for "military personnel." On Saturday, December 16, therefore, the electoral silence began today, Friday, at six in the morning and will end with the closing of the last voting box on December 18 in the general vote.
Electoral silence is a period determined by law that precedes every presidential or parliamentary election, during which the practice of political propaganda is prohibited, during which all independent and coalition parties and lists are prohibited from engaging in any activity within the framework of their electoral campaign, and during which candidates are strictly prohibited from carrying out any operation that falls within the framework of promotion, propaganda, and gaining favor. Voters.
The Electoral Commission confirms that failure to abide by electoral silence is considered a violation of electoral propaganda and falls under the concept of violation of electoral propaganda and therefore will bear legal responsibility and the penalty resulting from this violation is subject to the discretion of the Council.
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Tishwash: Al-Sudani: The Iranian side has no problem in dealing commercially with Iraq using dinars or tomans
Prime Minister Muhammad Shiaa Al-Sudani said today, Thursday, that: “Economic reform begins with the financial and banking sectors,” while noting that “the government is committed to providing the dollar at the official rate,” and stressed that “there is no problem on the Iranian side in dealing commercially with Iraq in dinars.” Or toman.
Al-Sudani said in a televised interview followed by “Al-Mutala’” that: “Conducting the population census, the first step in implementing Article 140 of the Constitution, was postponed to May 2024 after it was scheduled to be conducted this year due to the governorate council elections,” pointing out that “the time has come to lift the census.”
The outstanding problems between Baghdad and Erbil lie in the border crossings and the budget.” He added, "We went to borrow from the Ministry of Finance to pay the salaries of the employees of the Kurdistan region, and we are in favor of finding a solution with a legal amendment that considers the employees of the Kurdistan region as equal to the rest of the employees of Iraq," stressing, "The government is keen to end the suffering of the Kurdistan employees' salaries crisis." On the other hand, he stressed, "Economic reform is the gateway to financial and banking reform, and the issue of the exchange rate requires this reform. We are committed to providing the dollar at the official rate to merchants, investors, contractors, students, and travelers.
" He pointed out, "95 percent of our trade now passes through the electronic platform, and there are those who circumvent the law and buy the dollar at the parallel price because they do not want to apply legal procedures." He stressed, "We will not accept that the official price of the dollar be equal to the parallel price, because that would encourage smuggling." Regarding foreign trade, Al-Sudani said: “The Iranian side has no problem in dealing commercially with Iraq in the dinar or toman currencies.”
He continued: "The problem of commercial transfers to Turkey has been solved by opening accounts in the Turkish lira." He stressed that "food prices remained stable, despite the attempts of manipulators to speculate on the price of the dollar." link
Mot: Gueeesssssss What!!!!!
Mot: ... Simply Amazing How Quick they Can Learn!!!!
Iraq Economic News and Points to Ponder Late Thursday Evening 12-14-23
Iraq Economic News and Points to Ponder Late Thursday Evening 12-14-23
Tlm724 Administrator Bondlady’s Corner
Oil Is Recovering From Its Lowest Levels In Months After A Decision By The US Federal Reserve
Economy | 12/14/2023 Baghdad - Mawazine News Oil prices rose in trading on Thursday, in light of the decline of the dollar after the US Federal Reserve decided to stabilize interest rates at their current level. By 09:25 Moscow time, US crude futures rose by 0.46% to $69.79 per barrel, while Brent crude futures rose by 0.55% to $74.67 per barrel.
Iraq Economic News and Points to Ponder Late Thursday Evening 12-14-23
Tlm724 Administrator Bondlady’s Corner
Oil Is Recovering From Its Lowest Levels In Months After A Decision By The US Federal Reserve
Economy | 12/14/2023 Baghdad - Mawazine News Oil prices rose in trading on Thursday, in light of the decline of the dollar after the US Federal Reserve decided to stabilize interest rates at their current level. By 09:25 Moscow time, US crude futures rose by 0.46% to $69.79 per barrel, while Brent crude futures rose by 0.55% to $74.67 per barrel.
The rise in black gold prices came in light of the decline of the US currency, after the US Federal Reserve decided to stabilize the interest rate.
The dollar index, which measures the value of the US currency against a basket of major currencies, fell by 0.25% to 102.61 points. https://www.mawazin.net/Details.aspx?jimare=239252
A Parliamentary Committee Shows The Impact Of Reducing Voluntary Oil Production On Iraq’s Revenues
Economy | 14/12/2023 Mawazine News – Baghdad The Oil, Gas and Natural Resources Committee, today, Thursday, determined the Iraqi government’s position on the decision to reduce voluntary oil production, while indicating the impact of reducing voluntary oil production on Iraq’s revenues.
Committee member Intisar Al-Jazairi said in an interview followed by Mawazine News, “When the Iraqi government agreed to the decision to voluntarily reduce voluntary production by 220,000 barrels per day during the first quarter of 2024, it must have a certain vision.”
She added, "The decision to reduce is in the interest of Iraq, given that the world today is witnessing many events, such as the war launched by Israel on Gaza," pointing out that "increasing the export of oil quantities benefits internal revenues, but the export funds do not come immediately, which makes oil Under the hands of the government, and it issues it whenever it wants.”
A member of the Parliamentary Oil Committee explained that “the national SOMO company is the one that determines whether this reduction affects global markets or not,” indicating that “increasing exports may harm the government’s revenue rates, which is what prompts it to determine the amount of oil exported through SOMO.” ".
Earlier, 7 oil-producing countries within the “OPEC Plus” alliance took decisions to voluntarily reduce their production, by up to 1.571 million barrels per day, from the beginning of next May until the end of the year 2023. The decision announced by each country included it separately, in addition to... Saudi Arabia, Russia, the Emirates and Kuwait, as well as Iraq.
https://www.mawazin.net/Details.aspx?jimare=239269
International Praise For Iraq's Efforts To Combat Corruption
Economy News – Baghdad On Thursday, Executive Director of the United Nations Office on Drugs and Crime, Ghada Wali, praised Iraq's efforts to combat corruption and money laundering and engage the private sector.
The Integrity Commission stated in a statement, seen by Al-Iqtisad News, that “The Chairman of the Commission, Haider Hanoun, met with the Executive Director of the United Nations Office on Drugs and Crime (UNODC), Ghada Wali, and discussed with her effective mechanisms to reduce corruption in state institutions and protect the private sector from involvement in corruption.”
He reviewed Iraq's efforts in the field of combating corruption and spreading a culture of integrity, transparency, and accountability.
Hanoun pointed out, “The Authority, represented by its Department of Relations with Non-Governmental Organizations, seeks to spread ethical behavior in the public and private sectors, and to hold educational programs and seminars in the field of risk management in the private sector and its impact on applying integrity standards, providing security for businessmen and investment companies, and contributing to The government effort towards reconstruction and service provision.
He pointed out, "The Commission held workshops and training courses to develop the cadres of the regulatory agencies and the rest of the employees of state institutions," praising "the development of the training programs of the Iraqi Anti-Corruption Academy and its digital transformation."
She praised "Iraq's efforts in the field of combating corruption and combating money laundering, as well as working with the private sector by holding conferences," noting "Iraq's participation and effectiveness in the CLUB project, and its endeavor to draw up a new strategy for integrity and anti-corruption and adequate preparation and preparation for it."
Views 33 12/14/2023 - https://economy-news.net/content.php?id=38533
The Iraqi Stock Exchange Closed Up By 1.12%
Market Economy News – Baghdad The Iraqi Stock Exchange closed, on the last day of trading this week, down by 1.12%.
The session traded shares of 39 companies, with the number of shares traded reaching 2 billion shares, with a value of 1.9 dinars.
Shares of Al-Iqtisad Bank rose by 11.1%, followed by Al-Tafif Islamic Bank by 10.1%, and Iraqi Meat Marketing by 8.9%.
Al-Amin Real Estate Investments shares fell by 6.7%, followed by Palestine Hotel by 4.3%.
Views 45 12/14/2023 - https://economy-news.net/content.php?id=38524
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Provoking Points To Ponder From Inspirational Movie Quotes
18. Make every moment count, enjoy your life time and don’t waste it.
All we have to decide is what to do with the time that is given to us. - from Lord of the Rings: The Fellowship of the Ring
19. The little things you do today could make a great difference in future.
It’s what you do right now that makes a difference. - from Black Hawk Down
20. Don’t take missing any opportunities as a bad thing, you never know what life is trying to teach you.
Our lives are defined by opportunities, even the ones we miss. - from The Curious Case of Benjamin Button
21. Achieving greatness is all about how much effort you make throughout the time.
Great men are not born great, they grow great. - Mario Puzo, from The Godfather
22. Instead of seeking for happiness, live the moment and that’s where happiness exists.
Me, I still believe in paradise. But now at least I know it’s not some place you can look for because it’s not where you go. It’s how you feel for a moment in your life when you’re a part of something and if you find that moment, it lasts forever. - from The Beach
beach23. If you wait for others to complete you, you’ll never be able to have peace in your mind whenever you’re alone.
Only if you find peace within yourself will you find true connection with others. - from Before Sunrise
24. Always have hope. Be optimistic for your future.
I know what I have to do now, I’ve got to keep breathing because tomorrow the sun will rise. Who knows what the tide could bring? - from Cast Away
25. Before you do anything, be clear of why you want to do it. The purpose is an important reason to support what you’ll do.
To find something, anything, a great truth or a lost pair of glasses, you must first believe there will be some advantage in finding it. - from All the King’s Men