Some “BRIC’S News” Thursday 6—6-2024

Breaking! 97 Countries Coming To Attend BRICS 2024 In Russia!

We Love Africa:  6-5-2024

97 Countries Prepare To Attend BRICS 2024 in June in Russia

A total of 97 countries have confirmed their presence in the BRICS 2024 Games in June this month. The event will be hosted by Russian President Vladimir Putin in the Kazan region between June 12 to 24.

“97 countries had already confirmed their participation,” said Russia’s Prime Minister Dmitry Chernyshenko. The minister added that the BRICS 2024 Games are an integral part of the development of the country.

“The BRICS Games 2024, which were ordered to be organized following the decree of the Russian President Vladimir Putin, are an important part of our country’s chairmanship in this organization,” he said.

He added that all eyes will be on the BRICS Games in 2024. “The upcoming tournament must be organized at the highest possible level,” he said. The sporting event will host 20 different sports with 97 countries participating in Russia.

Apart from the 97 countries that are participating in the BRICS Games 2024, more than 40 nations are also looking to join the alliance.

 In 2024 alone, seven new countries have expressed their interest and submitted formal applications to enter the bloc.

The 16th BRICS summit will also be held in Russia’s Kazan region in October this year. The alliance will decide on the prospects of the applications in the upcoming BRICS summit.

All decisions will be taken on a consensus basis after weighing the pros and cons of a particular application.

 BRICS is the only bloc that is looking to end reliance on the US dollar and push local currencies for cross-border transactions.

https://www.youtube.com/watch?v=29_95n4Xfeg

BRICS IS EXPANDING: Turkey, a NATO Member, Announces Plans to Join BRICS Bloc in 2024

Lena Petrova:  6-5-2024

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

“Tidbits From TNT” Thursday 6-6-2024

TNT:

CandyKisses: Land Acquired for $1.5bn Baghdad Golf Development

Arabian Business reports that Abu Dhabi-based property developer Eagle Hills has bought land in Baghdad for a $1.5-billion golf real estate project.

It says the Baghdad Golf Course and Spa will feature a world-class golf course, high-end residential neighbourhoods, a five-star hotel, and an exclusive resort club.

Eagle Hills was founded by Mohamed Alabbar, who also founded Emaar Properties, which developed projects such as the Burj Khalifa and the Dubai Mall.

CandyKisses: Will employees' salaries be released before Eid al-Adha?

Baghdad Today - Baghdad

An official source in the Iraqi Ministry of Finance revealed today, Wednesday (June 5, 2024), the possibility of distributing the salaries of employees before Eid al-Adha.

The source told "Baghdad Today" that "there is no trend so far regarding the distribution of salaries of Iraqi state employees before Eid al-Adha, corresponding to (16) June."

He added that "the salaries of employees as well as retirees will be paid during the current month, on their normal date without any submission to do so, so there is no decision to do so by the Prime Minister or the Minister of Finance."

The Iraqi government was often accustomed to paying the salaries of state employees before the holidays if the holidays coincided with the last days of the month, or if the date of payment of salaries coincided in the middle of the holidays, which prompted the government to pay salaries a day or two before their date.

However, Eid al-Adha will start between 16 and 17 and end between 19 and 20, and the official working hours begin on Sunday, June 23, before the official salary date.

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

CandyKisses:  Iraqi-Saudi-Kuwaiti discussions in Riyadh

Shafaq News/ The Saudi capital hosted discussions that brought together Saudi Foreign Minister Prince Faisal bin Farhan, Iraqi Fuad Hussein, and Kuwaiti Abdullah Ali Al-Yahya.

The Saudi Foreign Ministry stated in a statement on the “X” platform that during the discussions, “ways were discussed to enhance and develop aspects of cooperation in many fields,” and “the ministers also touched on the importance of intensifying bilateral and multilateral coordination on issues of common interest.”

The meeting comes days after Prince Faisal bin Farhan met with Abdullah Al-Yahya in Kuwait, last Sunday, and issued an announcement about the outcomes of the second meeting of the Saudi-Kuwaiti Coordination Council.

The announcement said at the time that the two sides stressed “the importance of cooperation in the political fields and joint coordination at all bilateral, regional and international levels, and the crystallization of positions in a way that serves the common interests of the two sides, and in a way that brings security and stability to the two countries, their peoples, and the peoples of the region,” according to the Saudi Press Agency (SPA).

The last meeting between the Saudi Foreign Minister and his Iraqi counterpart was in the Chinese capital, Beijing, at the end of last May.

During the Beijing meeting, “ways to strengthen and develop relations in various fields were reviewed, in addition to discussing the latest developments in issues on the regional and international arenas, most notably the developments in the Gaza Strip and its surroundings and the efforts made in this regard,” according to SPA.

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

CandyKisses: President Rashid: Iran is a very important neighbor of Iraq and our relationship with it is good and strong

Baghdad Today - Baghdad

On Thursday (June 6, 2024), the President of the Republic, Abdul Latif Jamal Rashid, promised the Republic of Iran that it is a very important neighbor of Iraq, while noting that Iraq's relationship with it is good and strong.

Rashid said in a television interview followed by "Baghdad Today," that "Iraq has witnessed a remarkable transformation since the end of the hot phase of violence and terrorism," noting that "the country is currently witnessing security stability, peace and security in Iraq has become a reality now."

"The international community has a duty to exert more pressure to recognize the right of Palestinians to self-determination." , stressing "the need to stop the genocide committed every day against the Palestinian people."

He pointed out that "the relationship between the federal government and the Kurdistan Regional Government is full cooperation."

"Iran is a very important neighbor of Iraq and our relationship with it is good and strong and is being developed continuously in various fields," he said.

Mot: Can YOu Believe its only ~~~~~

Mot: . Just Saying Ya Knows!!!

Iraq Economic News and Points To Ponder Late Wednesday Evening 6-5-24

Iraq Economic News and Points To Ponder Late Wednesday Evening  6-5-24

Fintech In Iraq: How Is Iraq Reshaping Its Financial Future?

Time: 06/05/2024 Read: 1,248 times  {Economic: Al-Furat News} Financial technology (FinTech) has become a major driver of innovation in the global banking sector, providing innovative solutions to facilitate financial services and increase their efficiency.

In Iraq, banks have begun to adopt these technologies, which has contributed to improving customer experience and expanding the scope of financial services provided. The Iraqi Deposit Insurance Company plays an important role in supporting this trend, as it is a pillar of financial stability, by encouraging banks to adopt financial technology and providing a regulatory environment supportive of innovation.

Financial technology has demonstrated its ability to enhance financial inclusion in Iraq, as it can provide affordable and accessible financial services to wide segments of society, especially in remote and rural areas.

Through mobile applications and online banking, individuals and businesses can access a variety of financial services, such as money transfers, paying bills, and obtaining loans, without having to visit bank branches.

The Iraqi Deposit Insurance Company is working to enhance the use of financial technology in Iraq, through cooperation with banks and financial technology companies to develop innovative solutions that meet the needs of the Iraqi market. The company is also working to provide the necessary regulatory framework to ensure the security and safety of digital financial services, and to protect consumer rights.  LINK

Dollar Prices Decline In Baghdad

Economy |  06/05/2024   The dollar exchange rates decreased today, Wednesday, in the markets of the capital, Baghdad.

Dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 145,500 Iraqi dinars for every 100 dollars, while yesterday, Tuesday, prices recorded 145,850 dinars for every 100 dollars.

While selling prices also decreased in banking shops in local markets in Baghdad, as the selling price reached 146,500 dinars, while the purchasing price reached 144,500 dinars for every 100 dollars. https://www.mawazin.net/Details.aspx?jimare=249179

Oil Prices Continue To Decline Amid The Increase In US Crude And Fuel

Energy  Economy News _ Baghdad  Oil prices extended losses in early Asian trading on Wednesday, after a report showed an increase in US crude and fuel inventories, raising concerns about demand growth.

Brent crude futures fell 14 cents, or 0.2 percent, to $77.38 per barrel by 0005 GMT. US West Texas Intermediate crude futures also fell 18 cents, or 0.3 percent, to $73.07 per barrel.

Both contracts fell about a dollar in yesterday's session on Tuesday and about three dollars a barrel on Monday, under pressure from the OPEC+ coalition announcing plans to increase supplies starting in October, despite recent indications of weak demand growth.

Data from the American Petroleum Institute showed that stocks of crude oil, gasoline and distillates in the United States rose last week. High inventories are usually a sign that supplies are exceeding demand.

Figures from the American Petroleum Institute showed that crude inventories rose by more than four million barrels in the week ending May 31, compared to analysts’ expectations of a decline of 2.3 million barrels in a Reuters poll.

Gasoline stocks also rose by more than four million barrels, which is much more than the two million barrel increase that analysts expected.

The US Energy Information Administration will publish official inventory data on Wednesday at 14:30 GMT.  Views 105 06/05/2024 - https://economy-news.net/content.php?id=44028

Iraq's Foreign Loans Decreased To $9 Billion

Economy | 03:15 - 06/05/2024  Baghdad - Mawazine News  The Iraqi government announced, today, Wednesday, that the value of foreign loans to Iraq decreased to about 9 billion dollars, after canceling about 31 loans from 2003 until the end of last year 2023.

The technical advisor to the Prime Minister, Muhammad Sahib Al-Daraji, said on the sidelines of an economic forum He resides in Baghdad and was followed by Mawazine News.

He said, “A specialized committee has been formed to reveal the amounts borrowed by Iraq from 2003 to the end of 2023, and to track the fate of this money and the projects that were completed thanks to these loans, and which are still under completion, and what are the faltering projects among them?” ".

He added, "Iraq was able to cancel about 31 external loans, leaving those loans worth 8 billion and 900 million dollars remaining," explaining that "these efforts aim to enhance transparency and monitor public spending, and ensure that loans are directed towards vital projects that contribute to developing the infrastructure." Infrastructure and basic services in the country.

He stressed that "the committee will continue its work to follow up on the use of the borrowed funds and ensure that the desired goals are achieved." https://www.mawazin.net/Details.aspx?jimare=249201

Central Bank Sales Exceed $272 Million Today

Wednesday 05, June 2024 14:49 | Economical Number of readings: 210

Baghdad / NINA / The Central Bank of Iraq announced, today, Wednesday, its total sales of foreign currency through the electronic window.

The window recorded the total amounts of transfers abroad (remittances, credits) at $249,648,467, while the total amount of cash sales amounted to $22,830,000, and the total amount of sales amounted to $272,478,467.

The cash sale price was set at 1,305 dinars to the dollar, while the bond credits, international settlements for the electronic card, and foreign transfers were set at 1,310 dinars to the dollar. / https://ninanews.com/Website/News/Details?key=1130820

Al-Sudani sponsors the signing of a cooperation agreement between the Trade Bank of Iraq (TBI) and the German Export Credit Corporation

Wednesday 05, June 2024 11:33 | Economical Number of readings: 521

Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani sponsored the signing of a cooperation agreement between the Trade Bank of Iraq (TBI) and the German Export Credit Corporation, to finance private sector development projects within the government’s sovereign guarantees initiative./End 9 https://ninanews.com/Website/News/Details?key=1130785

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

An earthquake achieves what the law promises but does not in practice maintain - the equality of all men. - Ignazio Silone

I don't deserve this award, but I have arthritis and I don't deserve that either. - Jack Benny

I have an inward treasure born within me, which can keep me alive if all the extraneous delights should be withheld; or offered only at a price I cannot afford. - Charlotte Bronte

Nothing is more desirable than to be released from an affliction, but nothing is more frightening than to be divested of a crutch. - James Baldwin

People don't ever seem to realize that doing what's right is no guarantee against misfortune. - William McFee

The struggle to the top is in itself enough to fulfill the human heart. Sisyphus should be regarded as happy.  - Albert Camus

There are three modes of bearing the ills of life: by indifference, by philosophy and by religion. - Charles Caleb Colton

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

MilitiaMan: Iraq Dinar- IQD Update-Tripartite Budget-Economic Decision-Digital Banks-Global Tax Systems-Approval

Iraq Dinar- IQD Update-Tripartite Budget-Economic Decision-Digital Banks-Global Tax Systems-Approval

MilitiaMan:  6-5-2024

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

Be sure to listen to full video for all the news……..

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

Goldilocks' Comments and Global Economic News Wednesday Evening 6-5-24

Goldilocks' Comments and Global Economic News Wednesday Evening 6-5-24

Good evening Dinar Recaps,

NEW YORK, N.Y. — "The Commodity Futures Trading Commission’s Global Markets Advisory Committee (GMAC), sponsored by CFTC Commissioner Caroline D. Pham, advanced two recommendations to examine the impacts of proposed U.S. bank capital requirements and to improve collateral and liquidity management for non-centrally cleared derivatives." | CFTC

Recommendations:

1. Global Market Structure Subcommittee Recommendation – "Report on the Impact of the US Bank Capital Proposals on End-Users that Rely on Cleared Derivatives Markets"

This first recommendation deals with Capital Requirements and corresponding collateral that is put up to ensure that both sides of a trade moves through the system.

In many cases, this will represent gold for large transactions inside of large foreign currency exchanges.

The London Clearing House and the Chicago Mercantile Exchange are two examples of Clearing Houses that will process our transactions.

2. Technical Issues Subcommittee   Recommendation – "Variation Margin Processes in Non-Centrally Cleared Markets"

Non-centrally cleared markets happen in markets where transactions are moved through the system without the involvement of a central counterparty or custodian.

Examples of non-centrally cleared markets include:

* Non-centrally cleared bilateral repo (NCCBR) market

This concept deals with credit given on both sides of a trade to execute the process allowing a trade to go forward.

* Non-centrally cleared derivatives (NCCDs)

And, this concept deals with clearing derivative product details such as interest rates, foreign exchange trades, credit, commodity, and Equity trades.

On the new Digital Asset Based Trading System, Smart Derivative Contract Clearing can now be done through digital mechanisms capable of processing these informational data points at the touch of a button.

Here, we have Gold and Technology merging into synchronized partnerships designed to clear a market transaction or a banking portfolio with a few strokes of a keyboard.   CFTC

© Goldilocks

~~~~~~~~~

Instant Cross-Border Payments Announcement:

"The BIS unveiled Project Rialto (https://www.bis.org/about/bisih/topics/cbdc/rialto.htm) a new foreign exchange (FX) module looking to improve FX settlement for instant cross border payments. It will use wholesale central bank digital currencies (wholesale CBDC) as the settlement asset. The FX module could be used as an add on for solutions that interlink instant payment solutions, such as Project Nexus, or as part of a digital asset settlement solution."

Wholesale CBDC will be utilized in foreign currency exchanges. I know many of you will have a question about this procedure, so I looked into it a little bit further to give you the following sentence. Once your funds reach your personal banking account, it does not transition into Retail CBDC.

A retail CBDC is for general public use, and wholesale CBDC is for the banking system to utilize. It remains to be seen at what level we will see a retail CBDC if at all. If retail CBDC is adopted, the public has made it known that the government is going to have to continue working on the privacy issue. Time will tell on this one.   BIS   Ledger Insights   World Economic Forum

© Goldilocks

~~~~~~~~~

Deutsche Bank has joined the Monetary Authority of Singapore’s (MAS) Project Guardian (as part of the asset and wealth management workstream). The collaborative initiative is dedicated to testing the feasibility of asset tokenization applications in regulated financial markets. | The Tokenizer

~~~~~~~~~

Tokenized Exotic RWAs Are Piquing Investor Interest | Forbes

~~~~~~~~~

The U.S. Faster Payments Council (FPC) has recognized Ripple among companies like Visa and Mastercard set to compete for dominance in currency conversion for digital assets. | The Crypto To Basic

~~~~~~~~~

France’s prudential regulator advances work on certification of smart contracts | Ledger Insights

As part of a speech (https://www.banque-france.fr/en/governors-interventions/future-money-regulatory-and-policy-issues-related-introduction-cbdcs) earlier this week, the First Deputy Governor of the Banque de France (https://www.banque-france.fr/), Denis Beau, revealed that the ACPR is working with the industry to certify smart contracts. The Autorité de Contrôle Prudentiel et de Résolution, ACPR, is the prudential regulatory arm of the central bank.

“Work is continuing in 2024 with stakeholders on one of the ACPR’s key proposals, namely the mandatory certification of smart contracts prior to their use,” he said. Mr Beau noted that early French crypto-asset regulations had heavily influenced the MiCA regulations.

Last April the ACPR shared some proposals on the possibility of regulating DeFi. They fell into three buckets:
* Security standards for private DLTs and public blockchains
* Certifying smart contracts
* Regulating DeFi entry points such as websites.

~~~~~~~~~

Can Ripple take over SWIFT? While Ripple might have the potential to take over SWIFT, it is also possible that SWIFT might leverage its considerable resources and reputation and pivot its services to include blockchain technology in some format. | Daily Coin

~~~~~~~~~

Bretton Woods 3 - New World Monetary Order | Youtube 

~~~~~~~~~

5 yr projections | US Debt Clock

~~~~~~~~~

"Tokenization can leverage the efficiency and transparency of blockchains to help modernize U.S. markets." | Twitter

~~~~~~~~~

UAE Central Bank Approves Stablecoin Licensing – CryptoMode

~~~~~~~~~

“Iraq to Start Mining Bitcoin with UAE on Nation-State Level” | Youtube

~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline 

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Some “Wednesday News” Posted by Clare at KTFA

KTFA:

Clare:  Sudanese Advisor: Iraq's external debt has fallen to 9 billion dollars

6/5/2024 Baghdad

The technical advisor to the Prime Minister, Muhammad Sahib Al-Daraji, said that the value of foreign loans to Iraq amounted to about 9 billion dollars.

Al-Daraji added: “A specialized committee has been formed to reveal the amounts borrowed by Iraq from 2003 to the end of 2023.”

He pointed out that "the committee is monitoring where the money went and what projects were completed with these loans and which are still being completed? And what is lagging behind?"

The Sudanese advisor confirmed, "Iraq was able to cancel approximately 31 external loans, leaving those loans worth 8 billion and 900 million dollars."   LINK

Clare: Prime Minister: The coming period will be the beginning of major projects

6/5/2024

Prime Minister Muhammad Shiaa Al-Sudani confirmed: “The coming period will be the beginning of large projects.”  LINK

Ryan1216:  I pray a new rate is introduced along with the beginning of the major projects

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

Clare:  FinTech in Iraq: How is Iraq reshaping its financial future?

6/5/2024

Financial technology (FinTech) has become a major driver of innovation in the global banking sector, providing innovative solutions to facilitate financial services and increase their efficiency.

In Iraq, banks have begun to adopt these technologies, which has contributed to improving customer experience and expanding the scope of financial services provided. The Iraqi Deposit Insurance Company plays an important role in supporting this trend, as it is a pillar of financial stability, by encouraging banks to adopt financial technology and providing a regulatory environment supportive of innovation.

Financial technology has demonstrated its ability to enhance financial inclusion in Iraq, as it can provide affordable and accessible financial services to wide segments of society, especially in remote and rural areas. Through mobile applications and online banking, individuals and businesses can access a variety of financial services, such as money transfers, paying bills, and obtaining loans, without having to visit bank branches.

The Iraqi Deposit Insurance Company is working to enhance the use of financial technology in Iraq, through cooperation with banks and financial technology companies to develop innovative solutions that meet the needs of the Iraqi market. The company is also working to provide the necessary regulatory framework to ensure the security and safety of digital financial services, and to protect consumer rights.  LINK

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

Clare:  Iraq intends to purchase 8 air defense systems for $2.5 billion

6/4/2024  Baghdad - 

Military sources revealed, today, Tuesday, Iraqi negotiations with Korea, through which Iraq seeks to purchase the "M-Sam 2" anti-missile and anti-aircraft system from South Korea, as part of a deal that could be worth about 2.56 billion dollars. 

Iraq has expressed in an “urgent” request its desire to possess 8 systems of these air defense batteries, also known as “Xionggong-2,” according to the sources.

The Cheonggong-2 system provides effective defense against aircraft, cruise and ballistic missiles, intercepts incoming threats with direct collision, and features an advanced radar for simultaneous detection and tracking of multiple targets. It has an operating range of up to 40 km, and can confront missiles at altitudes of up to 15 km.   LINK

 ************

Clare: The Iraqi budget is moving toward “publishing and disbursing” without presidential approval

6/5/2024

Member of the Parliamentary Finance Committee, Jamal Kujar, revealed on Wednesday an important step towards approving Iraq’s budget for the current year. 

Koger told Shafaq News Agency that the House of Representatives voted on the budget law schedules and sent them in an official letter to the Ministry of Justice for the purpose of publishing them in the Iraqi newspaper Al-Waqe’i.

He stated that the budget schedules do not need to be approved by the Presidency of the Republic, given that Parliament voted last year on the three-year budget law.

He added, after publishing the budget tables in the Official Gazette, the Ministry of Finance and the Ministry of Planning will disburse operational and investment expenses, allocations and financial dues to ministries, institutions, bodies and government agencies, in addition to disbursing the governorates’ dues as specified in the budget tables.

The Iraqi Parliament voted, the day before yesterday, Monday (May 3), on the budget schedules for the current year 2024.

The budget included securing scholarships for university and school students, and increasing employee allocations by 4 trillion to secure the salaries of employees, new appointees, and retirees, and implementing the terms of contracts, appointments, and those whose contracts were terminated.

It also included allocating an amount of one trillion and 250 billion dinars to secure the increase in retirees' salaries, and allocations for disbursing end-of-service rewards to civilian and military retirees.

As well as increasing social welfare allocations to include more than 650,000 new families, increasing the capital of the Real Estate Bank by 500 billion dinars to cover citizens’ lending requests for housing, and allocating an amount of 5 trillion dinars to secure farmers’ entitlements to purchase wheat and barley crops.   LINK

Clare: Signing a cooperation agreement between an Iraqi bank and a German institution to finance private sector projects

6/5/2024

Today, Wednesday, Prime Minister Muhammad Shiaa Al-Sudani opened the work of the second specialized workshop to support the private industrial construction sector, during which a cooperation agreement was signed between the Trade Bank of Iraq (TBI) and the German Export Credit Corporation, to finance private sector development projects, within the sovereign guarantees initiative. Governmental.

A letter of authorization was also signed to finance the project to establish a plate glass factory in the Najaf Governorate in the amount of 110 million euros, between the Iraqi Trade Bank and the German banks (Commars Bank) and (Aka Bank).

Mr. Al-Sudani viewed an exhibition that included the private industrial sector’s products of construction materials, praising the efforts made to provide them.

The Prime Minister said in his speech during the opening of the workshop that sovereign guarantees provided financial support from German, Italian and Japanese financial institutions, amounting to 200 million dollars, adding that there are understandings with the French side in the amount of 1 billion euros, for the construction of industrial projects within the sector. private.

He added that the steps of networking and implementing the ASYCUDA system are an important step in automating customs and facilitating the entry of goods, stressing that tax accounting procedures have witnessed a jump due to the facilities provided.

Al-Sudani went on to say, “We are on the verge of a qualitative shift in the procedures for registering companies within the electronic procedures,” noting that “a vision will be reflected in the form of procedures on the financing side and facilitating borrowing from banks.”

The Prime Minister revealed that the government is conducting a study to reform the Industrial Bank to be an effective tool in implementing plans and programs that drive industrial development.

He considered that these agreements are an important indicator of external contributions to the Iraqi economy, specifically in the industrial sector.

Al-Sudani continued by saying, "We are continuing in the housing and construction sector in general, and this requires extensive construction materials."

He concluded his speech by saying that the available factories for various construction materials cover only a quarter of the need according to the projects that will be undertaken, especially residential city projects.  LINK

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

Clare: Al-Sudani: Understandings with France amounting to one billion euros to build industrial projects... and it promises a qualitative shift

6/5/2024

Today, Wednesday, Prime Minister Muhammad Shiaa Al-Sudani opened the work of the second specialized workshop to support the private industrial construction sector, during which a cooperation agreement was signed between the Trade Bank of Iraq (TBI) and the German Export Credit Corporation, to finance private sector development projects, within Government Sovereign Guarantees Initiative.

A letter of authorization was also signed to finance the project to establish a plate glass factory in Najaf Governorate in the amount of 110 million euros, between the Iraqi Trade Bank and the German banks (Commars Bank) and (Aka Bank).

Al-Sudani viewed an exhibition that included the private industrial sector’s products of construction materials, praising the efforts made to provide them.

He stressed, during his speech, that the main goal of this workshop is to emphasize the need for construction industries, pointing to government support for the industrial sector, and removing the problems and obstacles facing this vital sector, which represents a fundamental engine of the economy, and helps address the problem of unemployment by providing job opportunities, Noting that the support of the Ministry of Industry and industrialists and all the decisions required by the Council of Ministers are on their way to implementation, he confirmed that 8 projects are on their way to implementation in light of the provision of sovereign guarantees to support the private sector.

The Prime Minister referred to the important package issued by the Council of Ministers yesterday, which included measures related to supporting the industrial sector, including those related to providing land for the construction of projects, and providing the necessary fuel for operation. He stressed that the government has put in place measures to improve the business environment, expand electronic payment and collection, and improve Tax accounting procedures and automation of customs procedures.

Al-Sudani explained that this package was completed through discussion with the relevant departments as it was discussed in the Council of Ministers, and greater powers were granted to the competent departments in the Ministry of Industry to overcome any red tape or delay, and he directed that a periodic report be presented to monitor procedures in the event of obstruction or diligence. 

In appreciation of the Prime Minister’s position in support of industrialists, which resulted in a package of decisions taken by the Council of Ministers yesterday, the Federation of Industries decided that June 4 would be National Industry Day.

The following are the most important things that were stated in the Prime Minister’s speech during the opening of the workshop:

Sovereign guarantees provided financial support from German, Italian, and Japanese financial institutions, amounting to $200 million.

There are understandings with the French side amounting to 1 billion euros, for the construction of industrial projects within the private sector.

- Networking steps and implementing the ASYCUDA system are an important step in automating customs and facilitating the entry of goods.

- Tax accounting procedures witnessed a jump due to the facilities provided.

We are on the verge of a qualitative shift in company registration procedures through electronic procedures.

We have set a vision that will be reflected in the form of measures on the financing side and facilitating borrowing from banks.

We are studying the reform of the Industrial Bank to be an effective tool in implementing plans and programs that drive industrial development.

These agreements are an important indicator of external contributions to the Iraqi economy, specifically in the industrial sector.

We are working in the housing and construction sector in general, and this requires extensive construction materials.

The available factories for various construction materials cover only a quarter of the need according to the projects that will be undertaken, especially residential city projects. LINK

“Tidbits From TNT” Wednesday Morning 6-5-2024

TNT:

Tishwash:  Angry demonstrators storm an American company in Baghdad

On Tuesday, angry demonstrators stormed the building of an American company in Baghdad.
A security source told Mawazine News, "Angry demonstrators stormed the building of the American company Procter & Gamble in the Uwaireej area, south of Baghdad."

He added, "The security services were on alert towards the Uwairaj area in Baghdad." link

Tishwash:  Financial inclusion in Iraq: a success story that defies the odds

In the wake of the American invasion of Iraq in 2003, the financial system collapsed and the phenomenon of hoarding money spread, as a result of the loss of confidence in the banking sector after the closure of most branches of foreign banks operating in Iraq, and the faltering of some local banks.

To address this crisis, the Iraqi Deposit Insurance Company began establishment procedures in 2008 with the aim of protecting depositors’ funds and enhancing their confidence in the banking system, which is vital for achieving sustainable economic development.

The company has achieved remarkable success in its mission, as it has witnessed a significant increase in the number of bank accounts and the size of deposits since its establishment. In 2009, total deposits in Iraqi banks amounted to $8.05 billion, and this number rose to $76.5 billion in 2021. This significant increase is largely due to the company’s efforts to enhance confidence in the banking system and encourage citizens to save.

This significant increase in deposits clearly reflects the effective role played by the company in stimulating the culture of savings and encouraging citizens to deposit their money in banks instead of keeping it at home.

These numbers indicate that the Iraqi Deposit Insurance Company is on the right track towards achieving its strategic goals, which are enhancing financial stability and reducing the phenomenon of hoarding, and thus contributing to advancing economic growth in Iraq. link

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

Tishwash:  The government's lack of seriousness in removing the Americans leaves Iraq exposed to them

It seems that there is nothing hidden from the Americans inside Iraq, as they know everything and eavesdrop on everything, and all this while the government is silent in the face of the popular will that calls for the removal of the American occupier from the country.

An international coalition led by the United States toppled the former regime in 2003, then Washington declared itself an occupying force in the country.

In 2008, the United States and Iraq concluded the Strategic Framework Agreement, which paved the way for the complete withdrawal of American forces in late 2011 after 8 years of occupation. The agreement regulates relations between the two countries at various political, security, economic, cultural and other levels.

American forces returned to Iraq at the request of Iraqi Prime Minister Haider al-Abadi in 2014, after the terrorist organization ISIS invaded a third of Iraq's area in the north and west.

America came with about 60 countries under the pretext of fighting the terrorist organization, before Iraq regained all of its territory from the organization in 2017 after 3 years of war, with the help of the Popular Mobilization Forces and the rest of the security forces.

Baghdad and Washington agreed to withdraw all combat forces from the international coalition by the end of 2021, but America remains to this day and has committed many crimes against Iraqi civilians, in addition to committing dozens of assassinations that targeted the mujahideen from the national forces and voices.

In the previous parliamentary session, the Iraqi parliament voted to completely withdraw American forces from Iraqi territory, but there was no withdrawal.

During the era of the government of Muhammad Shiaa al-Sudani, pressure increased on this government to expel the American occupier, and the Sudanese actually demanded that the Americans withdraw from Iraq, but it seems that these calls were to calm the angry street and nothing more, despite the talk of the head of the Supreme Committee to End the Mission of the International Coalition, the Chief of Staff of the Army, Lieutenant General Staff Abdul Amir Rashid Yarallah, with the continuation of consultations and the presence of seriousness in removing the occupier.

Political analyst Qasim Balshan questioned the government's statements to remove the American occupier from Iraq, describing them as “media consumption.”

alshan told Al-Ma'louma, “Everything that is said about movements to remove American forces from Iraq is just talk for media consumption.”

He explained, “Removing these forces lies with the Commander-in-Chief of the Armed Forces and not with the House of Representatives, which voted in the previous parliamentary session to remove the American occupier from Iraq.”

He pointed out, "The framework agreement signed during the era of former Prime Minister Nouri al-Maliki stipulated that the withdrawal of forces would be at an official request from the Commander-in-Chief of the Armed Forces," noting that "Sudanese did "Do not submit this request to the American administration."

While the head of the Presence Movement, Muhammad Abu Saida, criticized the continuation of American air sorties in Iraqi airspace and the military presence without any actual movement from the government to end the presence of these forces.

Abu Saida told Al-Maalouma, “Ain al-Assad base contains more than 1,950 American soldiers from the Marine unit and more than 4,500 soldiers inside the American embassy in central Baghdad. These forces remain and there is no movement towards removing them from Iraq.”

He added, "American forces are present in various types of military bases, as everything that is said about their exit from Iraq is just talk."

He stated that "American aircraft continue their sorties in Iraqi airspace, to collect information and visual and audio data through special eavesdropping devices."  link

Mot: .. Nutting but ~~~~~

Mot: .. Nooooooo Body Told Me - Way Back then!!!!

Iraq Economic News and Points To Ponder Late Tuesday Evening 6-4-24

Iraq Economic News and Points To Ponder Late Tuesday Evening  6-4-24

Financial Inclusion In Iraq: A Success Story That Defies The Odds

Time: 06/04/2024 18:48:26 Read: 1,105 times {Economic: Al-Furat News}  In the wake of the American invasion of Iraq in 2003, the    financial system collapsed and the phenomenon of   hoarding money pread, as a result of the   loss of confidence in the banking sector after the  closure of most branches of foreign banks operating in Iraq, and the  faltering of some local banks.

To address this crisis, the Iraqi Deposit Insurance Company began establishment procedures in 2008 with the aim of   protecting depositors’ funds and  enhancing their confidence in the banking system, which is vital for achieving sustainable economic development.

The company has achieved remarkable success in its mission, as it has witnessed a significant increase in the number of bank accounts and the size of deposits since its establishment.

In 2009, total deposits in Iraqi banks amounted to $8.05 billion, and this number rose to $76.5 billion in 2021.

This significant increase is largely due to the company’s efforts to enhance confidence in the banking system and encourage citizens to save.

This significant increase in deposits clearly reflects the   effective role played by the company in stimulating the culture of savings and   encouraging citizens to deposit their money in banks instead of keeping it at home.

These numbers indicate that the Iraqi Deposit Insurance Company is on the right track towards achieving its strategic goals, which are   enhancing financial stability and  reducing the phenomenon of hoarding, and thus   contributing to advancing economic growth in Iraq.    https://alforatnews.iq/news/الشمول-المالي-في-العراق-قصة-نجاح-تتحدى-الصعاب    

What If Other Banks Follow Suit?

 Economical 06/05/2024  Hussein Thaghb  Economic advancement requires a set of data that will take it to safety and achieve the set goals on time.

The process of economic development requires a series of interconnected episodes that complement each other during known times.

 This mechanism cannot be maintained unless there are elements that represent the raw material for new production.

The financial sector here can be described as the cornerstone of the economic development process sought by the country that is described as rich among the countries of the world,

 especially since one of the specialized centers placed Iraq first among the rich countries of the world, as it was ranked first by the volume of wealth per square kilometer relative to the number of inhabitants, and  Here we can evaluate the country's economic importance.

 Today, when we look forward to employing the amount of wealth in a way that creates true sustainable development and preserves the rights of future generations,

it is necessary to create an effective and sound banking system that takes into account the movement of money globally and complies with all legal paths that govern the movement of money within the globe, and  this is something we are close to, as she pointed out.

 International Reports Indicate That Iraq Is In An Acceptable Situation.

In the country, the matter requires more clarity and rapprochement from the Central Bank of Iraq with the banking system, which has begun to fear the expected sanctions,

especially since there are those who say that there are sanctions that will affect new banks in the coming days, at a time when the Central Bank and the Association of Banks, the sectoral body responsible for private banks, announced that efforts are directed To cancel the sanctions imposed on banks that began a year ago.

 In an atmosphere like this, banks continued to work to increase their capital and develop their technological systems in accordance with what is internationally approved to strengthen the financial system in Iraq.

 News like this comes circulating here and there.

 The relevant official and sectoral authorities must come closer to clarify the facts of the matter and preserve the banks that are actually working to develop their performance.

 It aspires to serve the national economy, and has national motives to serve Iraq, not exclusively personal interests.

Iraq is one of the most important labor markets in the world and the focus of attention of major international companies and international economic organizations.

This requires us to reflect an ideal image of the country, starting with the financial sector in particular, which is the reflecting mirror of any economy, and as long as we are on the cusp of a new phase to achieve...

For economic advancement, we must and inevitably have an effective banking system that is far from all forms of disruptions that expose it to unnecessary shocks.

The most important role of the Iraqi Central Bank is to  protect the quality of the Iraqi banking system,  confront any rumors that confuse performance,  reassure its children of the banks that actually serve the national economy, and  address banks that do not have development goals that support the development trends in the country.      https://alsabaah.iq/97861-.html    

More Than 12 Million Bank Accounts To Date

 Economical 06/04/2024  Baghdad: Al-Sabah  The growth rate of bank accounts has increased over the past years in the country, reaching 12 million bank accounts so far.

 According to a statement issued by the Central Bank, “the growth rate of bank accounts increased from 2018 to 2019 by 90%, reaching 12,500 million bank accounts.”  

He added, “The growth rate of bank accounts reached its peak in 2020 with a growth rate of 90%, reaching 12 million bank accounts, while   for the year 2021 it decreased to the lowest level by 10%, reaching 1,500 million bank accounts.”

 The Iraqi Central Bank indicated that the growth rate of bank accounts for the year 2022 increased by 30% to reach 4,500 million bank accounts, and  it also increased during the year 2023 by 54% to reach the level of 8 million bank accounts.   https://alsabaah.iq/97767-.html    

Experts: We Are Getting Close To “Zeroing” Gas Burning

 Economical 06/05/2024 Baghdad: Shukran Al-Fatlawi   Economic affairs specialists see the necessity of conducting multiple licensing rounds to exploit gas patches in the country in light of Iraq's approach to zeroing out the gas burning process, noting that the last round did not achieve all of its goals.

 Baghdad recently witnessed a licensing round for a number of new exploratory patches and sites, some of which were not awarded in the round.

 Oil expert Dr. Hamza Al-Jawahiri said in an interview with “Al-Sabah” that  the issue of investing in associated gas was long delayed due to many problems, pointing out that the government is serious during the next two years in zeroing the rate of burning of associated gas,

 indicating the existence of several projects for treatment, including exploiting gas in The project signed with Total Energies, which processes 600 mqm of gas, as well as the Nahr Omar project, which processes 300 mqmq, and other projects that the government is urging to invest in associated gas.

 Al-Jawahiri continued that there is a period of time ranging from 3 to 5 years, in which it is possible to see its final results in investing in associated gas, hoping at the same time that these projects will be implemented, because, unfortunately, they have become like a dream, he said, as the process of burning associated gas and converting it into power generation stations Electrical or petrochemical plants, not yet exploited.

 Al-Jawahiri stressed that petrochemical plants are not available in the country, except for one plant, which is not sufficient for its purpose, considering it a major problem that requires urgent solutions, noting that there are very many fields in western Iraq for free gas, which could make us a gas exporting country if invested properly.

He pointed out that the Ministry did not fully achieve its goals during the last licensing round in obtaining investors in the exploratory patch for invasive areas, because it requires more work, study, and seismic geophysical surveys in those areas in order to be presented to international companies, in addition to the necessity of providing security in the region.

For his part, the researcher in economic affairs, consulting engineer Imad Al-Muhammadawi, told Al-Sabah that the year 2030 will be the year of completely eliminating gas burning, according to the Paris Agreement that Iraq signed, which stipulates “finding coordination and reaching solutions and cooperation at all international levels to help in Reducing the percentage of carbon in the atmosphere and its negative effects, and confronting climate change and its significant effects as a result of global warming.”

 He added that the country's efforts are currently directed towards stopping associated gas, which will stop in the year 2028 according to government sources, and trying to benefit from it in generating electrical energy, from which the country has been suffering from a crisis for a long time.

 He expressed his optimism that the crisis is on its way to being resolved, and the country is currently taking... Correct steps in this direction.

 For its part, the Ministry of Oil recently announced access to investment and exploitation of 62% of the gas produced in Iraq, and indicated that the year 2028 will witness the end of Associated gas combustion.

The Undersecretary for Gas Affairs in the Ministry, Izzat Saber, said in a press statement,

“A memorandum of understanding was signed between Siemens, Schlumniger, and the Ministry of Oil for accelerated investment in the associated gas that is being burned,” indicating that

after the memorandum, the stage of commercial, financial, and technical presentation for this company and identifying the fields will come. That burns gas.    https://alsabaah.iq/97860-.html    

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Wealth

We can have democracy in this country or we can have great wealth concentrated in the hands of a few, but we can't have both.  - Louis D. Brandeis

I am opposed to millionaires, but it would be dangerous to offer me the position.  - Mark Twain

Sleep, riches and health to be truly enjoyed must be interrupted.  - Jean Paul Richter

The wealth of a nation consists not in its mass of material things, but in its system. The natural resources of South America are not inferior to those of the United States, but the wealth of the two regions is vastly different. The land of India is far richer than that of Japan, but the comparative wealth of the two nations is reversed.  - George Brockway

 http://famousquotesandauthors.com/topics/wealth_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Tuesday Afternoon 6-4-24

Goldilocks' Comments and Global Economic News Tuesday Afternoon 6-4-24

Good Evening Dinar Recaps,

"The State Bank of Vietnam (SBV) started selling gold directly to four state-owned commercial banks today (June 3), aiming to lower the metal’s domestic price. The institutions will then sell the gold bars to the public."

This new monetary policy shift will continue as Vietnam attempts to narrow the difference between the domestic and global gold bar prices per SBV officials. It is an attempt to revalue gold through resetting its price.

This diversifies their people's portfolio, and it gives the banking system a broader strength to their accounts. In return, it gives the SBV an opportunity expand their net worth and give out loans.

Vietnam has been accumulating gold in order to join the BRICS Nations. One of the requirements is that they do accumulate gold to support their banking system.

Can you see where this is going now? Everything across the board from the markets, the banking systems, the shipping ports, and to the people are turning to gold to deflate an inflated economy.

Through Tokenized Assets, our Global Economies will have a real value on every product that can be bought and sold including Forex opportunities.

I look to see these opportunities begin to shift in July for Vietnam as they become a Market Economy. Can it happen before that time?  English News  Central Banking   English News 2  Wikipedia

We are about to find out.

© Goldilocks

~~~~~~~~~

We finally have some prices placed on the US Debt Clock. It has been empty for some time. In fact, many countries in the East have been wondering when those numbers would show up. Well, they are here now.

This doesn't mean that these are prices that are set in stone. It just means they are prices to work from going forward as our world resets the price of gold and reclassifies gold as money. https://www.usdebtclock.org/

Gold will set us free!

© Goldilocks

~~~~~~~~~

It is the revaluation of Gold that will set the tone for the new economy. It will determine, to some degree, the price of all goods and services across all asset classes.

© Goldilocks

~~~~~~~~~

MiCA Regulations Force Binance to Overhaul Stablecoin Services | Finance Magnates

"Starting June 30, 2024, the European Economic Area (EEA) will enforce new regulations under the Markets in Crypto-Assets (MiCA) framework, specifically targeting stablecoins. Binance, one of the world's largest cryptocurrency exchanges, plans to roll out changes to ensure compliance, impacting everything from trading to rewards.

Only regulated companies can issue and offer stablecoins, termed regulated stablecoins. Many existing stablecoins do not meet these criteria and will be designated as unauthorized stablecoins, facing various restrictions on Binance's platform, the cryptocurrency exchange said in a statement on its website."

Remember, stablecoins represent a country's currency. The new regulations will be going into effect on June 30th, 2024.

This will begin to determine new prices in the new digital economy regarding trade relations around the world.

An increase in demand for local currencies around the world that have moved from a dollar regimen to a local currency regiment will begin.

This is when credit valuation adjustments begin. It does not mean new rates will happen overnight. In fact, to determine new price correlations on the market requires algorithmic patterns to set in that become normalized.

Watch the water.

© Goldilocks

~~~~~~~~~

EXCELLENT NEWS Iraq's Leap in Electronic Banking | Youtube

~~~~~~~~~

Next generation correspondent banking | BIS

Existing correspondent banking processes have struggled to adapt to new regulatory and supervisory requirements, posing questions on the future of the correspondent banking model.

The tokenization of correspondent banking, as embodied in Project Agorá (BIS (2024b)), could unlock streamlined pre-screening and atomic settlement, and pave the way for superior customer verification and anti-money laundering (AML) procedures.

Tokenization could substantially reduce duplication and miscoordination, thereby revitalising cross-border payments by fostering a robust network of correspondents and corridors.

~~~~~~~~~

Russia and China 'close' to replacing SWIFT — business regulator. |  Azerbaycan24

👆  Goldilocks pointed to this article

~~~~~~~~~

Sexy Bank Deals, Ripple Story, How to Distribute the XRP Escrow, When Smart Contracts on XRP Ledger | Youtube

~~~~~~~~~

Swift Unveils AI Pilots to Combat Cross-Border Payment Fraud - Fintech Singapore

~~~~~~~~~

Event: Hearing Entitled: Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets |  Financial Services.House

When: Wednesday, June 5, 2024 9:00 AM in 2128 Rayburn House Office Building

What: Subcommittee on Digital Assets, Financial Technology and Inclusion

~~~~~~~~~

UAE Central Bank Approves Issuance of Stablecoin Regulation | Cryptopolitan

~~~~~~~~~

BREAKING NEWS

TURKEY SAYS BRICS COULD OFFER A GOOD ALTERNATIVE TO THE EUROPEAN UNION TO BOOST ITS ECONOMIC PROSPECTS

Awkward…      Read: Twitter

~~~~~~~~~

If Russia Accepts Gold for Oil, Gold Price Doubles to $3,600, Says Credit Suisse’s Zoltan Pozsar | BMG Group

~~~~~~~~~

WATCH HERE

Power of copper = Free Healing

⚡️Copper + Gardening - Cultivate Elevate

~~~~~~~~~

Summary / Status Iraqi Dinar ReValue IQD VND Exchange Rates | Youtube

~~~~~~~~~

THE U.S. GOVERNMENT WILL REPLACE SWIFT WITH RIPPLE XRP | Youtube

~~~~~~~~~

BOOOOOOOOOOOOOOOOOOM!!!

Brad Garlinghouse indirectly says that the case will end this summer with the payment of a fine in the millions, not billions.

#XRP would be the first FULLY regulated digital asset in the United States of America! | Twitter

~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline 

Goldilocks' Telegram Room

Q & A Telegram Room

Goldilocks on the Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

Iraq Economic News & Points to Ponder Tuesday Afternoon 6-4-24

Iraq Economic News & Points to Ponder Tuesday Afternoon 6-4-24

Currency Auction: Central Bank Sales Exceeded $278 Million Today

Economy |  04/06/2024  Baghdad - Mawazine News   Tuesday, the Central Bank of Iraq sold more than 278 million dollars through an auction for selling American currency.

The total internal cash withdrawals amounted to $23,320,000, while the total amounts of transfers abroad, which include remittances and credits, amounted to $255,513,388, while the total sale amounted to $278,833,388.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 255 million 513 thousand and 388 dollars, an increase of 91% over cash sales amounting to 23 million and 320 thousand dollars.   https://www.mawazin.net/Details.aspx?jimare=249148

The Dollar Continues To Rise In Local Markets

Economy | 04/06/2024   Baghdad - Mawazine News   Tuesday, the exchange rate of the dollar against the dinar recorded a new high for the second day in a row on the main stock exchange in the capital, Baghdad.

The price of the dollar on the Al-Kifah and Al-Harithiya stock exchanges recorded 145,850 thousand dinars for every 100 dollars.

Prices stabilized in banking shops in local markets in Baghdad, with the selling price reaching 146,750 dinars, while the purchasing price reached 144,750 dinars for every 100 dollars.”

https://www.mawazin.net/Details.aspx?jimare=249129

Central Oil: The Prime Minister Stressed The Optimal Investment Of Energy And Fuel In Iraq

Energy  Economy News _ Baghdad  The Central Oil Company confirmed today, Tuesday, that exploratory blocks need time to study, evaluate, and learn their properties, while pointing to Prime Minister Muhammad Shiaa Al-Sudani’s emphasis on the optimal investment of energy and fuel in Iraq.

The company’s general manager, Muhammad Yassin Hassan, said in an interview with the Iraqi News Agency, followed by Al-Iqtisad News, that “Middle Oil is the largest exploratory and extractive area and area in oil companies, and the distribution was qualitative, as the fields and patches were distributed to all governorates, which contributes to Producing oil or gas in more than one governorate, thus increasing the spread or distribution of employment in Iraq, and reducing unemployment in the governorates.”

Hassan added, "The choices were for the gas to be close to the power stations, to achieve what the Prime Minister stressed about optimal investment of energy and fuel in Iraq."

He pointed out that "most of the patches currently offered are exploratory patches, and therefore require a long time and studying and evaluating the reservoirs to discover the reservoirs and know their properties, whether they are oil or gas."

He explained that "in establishments and fields operating in the natural gradient, there is a decline in production after a period of time following the peak, and therefore the discovery of fields near them is an important event that contributes to the sustainability of production in the governorates, and therefore the ministry must initiate referrals early to sustain production."

He pointed out that "the government's plan on the part of the Ministry of Oil is to deal with the government program accurately and professionally by distributing production and extraction in all governorates in order to distribute social benefits and reduce unemployment." Views 64 06/04/2024 - https://economy-news.net/content.php?id=44010

Iraq Exports More Than 7 Million Barrels Of Crude Oil And Its Derivatives To America In A Month

Energy   Economy News _ Baghdad  The US Energy Information Administration announced on Tuesday that Iraq exported more than 7 million barrels of crude oil and its derivatives to the United States during the month of March of this year.

An administration table, seen by Al-Iqtisad News, showed that Iraq's exports of oil and its derivatives in the month of March amounted to 7.75 million barrels, an increase of 2.395 million barrels from what they recorded in February, when they reached 4.680 million barrels.

The US Energy Information Administration stated that OPEC's exports of crude oil and its products to America during February amounted to 38 million and 69 thousand barrels, with Saudi Arabia having the highest rate of exports to America, reaching 11 million and 559 thousand barrels during the same time period.

Iraqi oil exports to the United States have increased significantly over recent years, with export numbers in some months reaching record levels, partly due to Iraq's ability to increase its oil production, in addition to rising global demand for oil.

Oil trade relations between Iraq and the United States play an important role in strengthening economic relations between the two countries. They also contribute to enhancing the stability of the global oil market and providing energy to the American and global economies. Views 74  06/04/2024 - https://economy-news.net/content.php?id=44001

Al-Sudani: Ending UNAMI’s Work Does Not Mean Breaking With The United Nations And Specialized International Agencies

Tuesday 04, June 2024 | Political Number of readings: 136  Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani confirmed that the UN Security Council’s decision to set a date for ending the work of the UNAMI mission in Iraq at the end of the year 2025 does not mean a break with the United Nations and specialized international agencies.

The Prime Minister said in his speech during the Council of Ministers session today: “The Security Council’s recent decision to end the work of the UNAMI mission came at the request of the government, and it represents international recognition of the progress made on the Iraqi scene in all fields.”

He added: "International organizations have reached a positive performance assessment of Iraq that supports stability," pointing out that "ending UNAMI's work does not mean a break with the United Nations and specialized international agencies."

The Prime Minister pointed out in his speech: “Iraq is the cornerstone of any stability process in the region.”/End 7   https://ninanews.com/Website/News/Details?Key=1130595

Announcing the establishment of the Iraqi-French Business Council on the sidelines of the Iraqi-French Economic Forum

Tuesday 04, June 2024 | Economical Number of readings: 354  Baghdad / NINA / The Department of Foreign Economic Relations in the Ministry of Commerce announced the establishment of the Iraqi-French Business Council on the sidelines of the Iraqi-French Economic Forum late last May.

A statement by the Ministry’s media office said: “The activities of the forum were organized by the Embassy of the Republic of Iraq in Paris in cooperation and coordination with the Commercial Mission in Paris, the French Ministry of Foreign Affairs, and the French Employers Association MEDEF for the period from the twenty-ninth to the thirty-first of last May.”

The statement continued: “The forum was attended by Governmental bodies and the Iraqi private sector, and on the French side, the Minister Delegate for Foreign Trade, Attraction, Francophonie, and French people abroad, in addition to other official figures, with the participation of Iraqi and French companies from the public and private sectors, and a large number of researchers, interested parties, and media professionals.

The statement indicated: “The launch of the work of this economic forum comes within the efforts of the Iraqi government and the Ministry of Commerce to implement the Iraqi-French strategic agreement signed between the two countries last year in order to develop trade and economic relations between the two friendly countries.

The statement stressed:” The commercial attaché played a pivotal and prominent role. In coordination with French banks, owners of companies, factories, investors, industrialists, and parties influencing French commercial and economic decisions, by bridging viewpoints to open broader commercial cooperation horizons by inviting them to participate in the forum. /End 3

https://ninanews.com/Website/News/Details?key=1130529

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Wealth 

The first wealth is health.              - Ralph Waldo Emerson

The smell of profit is clean and sweet, whatever the source.  - Juvenal

There are few sorrows, however poignant, in which a good income is of no avail. - Logan Pearsall Smith

The human race has had long experience and a fine tradition in surviving adversity. But we now face a task for which we have little experience, the task of surviving prosperity. - Alan Gregg

Riches enlarge, rather than satisfy appetites.- Thomas Fuller 

Australia is so kind that, just tickle her with a hoe, and she laughs with a harvest. - Douglas Jerrold

It is better to live rich than to die rich.  - Samuel Johnson

We can have democracy in this country or we can have great wealth concentrated in the hands of a few, but we can't have both.  - Louis D. Brandeis

I am opposed to millionaires, but it would be dangerous to offer me the position.  - Mark Twain

Sleep, riches and health to be truly enjoyed must be interrupted.  - Jean Paul Richter

The wealth of a nation consists not in its mass of material things, but in its system. The natural resources of South America are not inferior to those of the United States, but the wealth of the two regions is vastly different. The land of India is far richer than that of Japan, but the comparative wealth of the two nations is reversed.  - George Brockway

http://famousquotesandauthors.com/topics/wealth_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

“Tidbits From TNT” Tuesday 6-4-2024

TNT:

Tishwash: Al-Sudani: Iraq has many investment opportunities offered to international companies

Prime Minister Muhammad Shiaa Al-Sudani confirmed, today, Tuesday, that Iraq has many investment opportunities offered to international companies.

Al-Sudani’s media office said in a statement received by {Al-Furat News}, “The latter received the British Ambassador to Iraq, Stephen Hitchen, and during the meeting, they discussed bilateral relations between Iraq and the United Kingdom, and mechanisms for working to strengthen and expand them in various fields, in a way that achieves mutual benefit and interests.” shared between the two countries. 

The Prime Minister stressed that "Iraq has many investment opportunities presented to international companies, welcoming the participation of British institutions and companies in various sectors, especially the sectors of energy, industry, agriculture, and other vital sectors." link

Tishwash:  Nearly 80 trillion dinars disappear from the 2022 and 2023 budget.. Deputy: “No one knows where it went.”

Member of the Parliamentary Integrity Committee, Hadi Al-Salami, revealed today, Tuesday, that about 57 trillion Iraqi dinars remain from the 2023 budget, and no one knows where it went.

Al-Salami said, “The 2023 budget amounted to 206 trillion, the actual expenditure was 148 trillion, and the remaining 57 trillion. No one knows where that retained money went.”

He added, "There are 22 trillion in rounds in the 2022 budget as well, and no one knows where it went," noting that "there are problems and irregularities regarding the issue of actual revenues and actual expenses in the budget tables."

He explained, “The House of Representatives made many observations on the budget schedules that were passed without warning.”  link

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

CandyKisses:  Sudani suspends after approving 2024 budget schedules

Baghdad Today - Baghdad

Prime Minister Mohamed Shia Al-Sudani expressed, on Monday (June 3, 2024), his thanks and gratitude to the House of Representatives for its efforts that resulted in the approval of the budget tables.

Al-Sudani said, according to a statement by his media office, received by "Baghdad Today": "With more appreciation and pride, we congratulate the responsible step of the esteemed House of Representatives, represented in approving the budget tables for the year 2024 , related to Law (13 of 2023), the law of the "Federal Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025).”

He added: "We express thanks and appreciation for the efforts of the Presidency of the House of Representatives, political forces, parliamentary committees, and the Finance Committee, which completed the government effort, and what was previously approved in the Council of Ministers, represented in the budget tables (A, B, C, D, E, and f)."

He continued: "We reaffirm the continuation of the implementation of the government program, which received the vote of the Council of Representatives and the support of political forces, in order to complete the goals and implement the priorities that represent, above all, the aspirations of our Iraqi people and their demands that the government wishes to fulfill."

He added: "On this occasion, we call on the House of Representatives and provincial councils to support the work of the government by following up on the legislative and oversight effort, which our government institutions with all their arms and bodies consider as a support for their work, an evaluation of the path, and a guarantee against corruption, deviation and failure, just as we pledged to our people that there is no place for procrastination, nor courtesy at the expense of people's interests, preserving public money, and implementing service in all its names."

"We ask the Almighty God Almighty for success and repayment to obtain His satisfaction, glory be to Him, and to obtain the satisfaction of our honorable people."

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

Tishwash: Oil prices shock the markets and Brent falls to $77

Oil prices fell in early trading on Tuesday, continuing the losses of the previous session when prices fell to their lowest levels in four months, with investors concerned about increased supplies later in the year.

Brent crude futures fell 20 cents, or 0.3%, to $77.77 per barrel. Brent crude closed below $80 for the first time since February 7, after falling more than 3% yesterday, Monday.

US West Texas Intermediate crude futures fell 17 cents, or 0.2%, to $74.05, and closed near the lowest level in four months yesterday after falling 3.6%.

The Organization of the Petroleum Exporting Countries and its allies led by Russia, known as the OPEC+ group, agreed on Sunday to extend most oil production cuts until 2025, but left room to gradually cancel the voluntary cuts by eight members starting in October.

Signs of weak demand growth have also weighed on oil prices in the past few months, with a focus on data on fuel consumption in the United States.

The average price of gasoline in the United States fell 5.8 cents to $3.50 a gallon yesterday, Monday, according to GasBuddy data.   link

 Mot ..... Just ASaying -- bet Noone will Notice this Un!!!!  Almost summer

Mot: .. Dang - I LOL -- on dis un!!!  Hummingbirds