Iraq News Highlights and Points to Ponder Monday AM 11-18-24

Delete Zeros And Evaluate The Dinar

Economic  11/18/2024     In a newspaper column a while ago, we explained the concept of deleting zeros, and today we are talking about the concept of currency revaluation, which means a calculated upward adjustment of a country’s official exchange rate relative to a chosen baseline, which can include (wage rates, the price of gold, or a specific foreign currency), and revaluation is the opposite of devaluation.

 In a fixed exchange rate system (the system followed by Iraq),  only a decision from the state (the central bank) can change the official value of the currency, and developing economies are likely to use a fixed exchange rate system in order to limit speculation and provide a stable monetary system in the country.

In a flexible exchange rate system, revaluation occurs on a regular basis, as evidenced by the noticeable fluctuations in the foreign exchange market and the associated exchange rates.

For example, the United States maintained a fixed exchange rate until 1973, when President Richard Nixon decided to abandon the gold standard and switch to a flexible exchange rate system.

As for China, despite having an advanced economy, its currency remained fixed until 1994, before the Chinese government revalued its currency in 2005, which was linked to the US dollar. After the revaluation, it was linked to a basket of global currencies.

The decision to revalue a domestic currency affects the economy as a whole, as it affects both the currency being examined and the valuation of assets held by foreign companies in that particular currency.

Since revaluation has the potential to change the exchange rate between two countries and their currencies, the book values ​​of assets held abroad may have to be adjusted to reflect the effect of the change in the exchange rate.

For example, suppose a foreign government has set 10 units of its currency to equal one US dollar. To revalue its currency, the government might change the rate to 5 units per dollar, making its currency twice as expensive when valued in US dollars as it was before.

If the above-mentioned currency revaluation occurs, any assets held by a U.S. corporation in the foreign economy must be revalued.

 If the value of the asset held in a foreign currency was previously valued at $100,000 based on the old exchange rate, the revaluation requires a change of $200,000.

This change reflects the new value of the foreign asset in the local currency by adjusting the revaluation of the relevant currency.

Another example is what the Iraqi government did in 2023 when it raised the value of the Iraqi dinar from 1450 dinars/dollar to 1300 dinars/dollar.    https://alsabaah.iq/106053-.html

Dollar Prices In Iraqi Markets

Economy   2024-11-18 | 1,111 views  Sumerian News – Economy   Publishes Sumerian News, exchange rates Dollar Today, Monday, November 18, 2024, in the stock exchanges Baghdad Basra and Erbil. Below is a list of prices:

Baghdad:  Selling price: 150,750   Buying price: 150,000

Erbil:  Selling price: 150,800   Buying price: 150,150

Basra:  Selling price: 150,500   Buying price: 149,750

Note that the price Official From the Central Bank, it is: 132,000 thousand dinars for each $100 denomination.   LINK

Iraq Rejects “COP29” Proposal: We Will Not Get Rid Of Fossil Fuels, As They Are The Basis Of Our Economy

Energy   Economy News – Baghdad    The head of the Parliamentary Health Committee, Majid Shankali, confirmed that Iraq rejects the idea of ​​getting rid of fossil fuels, which was a prominent title at the “COP29” climate conference, explaining that the Iraqi economy depends mainly on fossil fuels, pointing to Iraq’s strong role in the conference, especially since it will chair the “G7 Plus” summit with China in the next session.

Global voices and demands are rising to gradually eliminate fossil fuel operations and oil and gas projects in oil-producing countries, due to the pollution they cause, and replace them with alternative energy sources such as (solar - wind - water - thermal)

In a statement to the official agency, followed by "Al-Iqtisad News", Shankali said, "The participation of the parliamentary delegation in the COP29 conference came to follow up on the work of the negotiating delegation and keep pace with the latest developments in the conference,"

indicating that "the climate conference focused on important issues, most notably the gradual elimination of fossil fuels, which is one of the main pillars of the Iraqi economy, which we completely reject."

Shankali continued, “There is a proposal from Azerbaijan to support developing countries by oil countries, but this proposal was rejected, because most of the oil-producing countries are themselves developing countries.”

He pointed out that "the active political presence of the President of the Republic, undersecretaries of ministries and executive bodies, in addition to the legislative support of the Iraqi Parliament, strengthens Iraq's position in these conferences, especially since it will assume the presidency of the G7 Plus summit with China in the next session."   https://economy-news.net/content.php?id=49961

A Source Reviews The Factors That "Undermine" The Goals.. What Is Behind The Efforts To Form The "Central Gas" Company?

Policy  2024-11-18 | 909 views  Sumerian News-Politics  An oil source recorded several observations today, Monday, on the efforts to establish the "Middle Gas Company", considering that establishing this The company It is useless and his motives are to find a new outlet for positions.

Documents I reviewed showed Sumerian News, Member Submission Committee Oil and Gas Parliamentary Haibat Al-Halbousi requested prime minister Last July, the Central Gas Company was established based on the fifth and sixth licensing rounds and what Anbar will witness in terms of developing exploratory areas amounting to 9 gas areas.

In addition to another letter from the Minister of Oil, Hayan Abdul Ghani, which includes a study and recommendation to establish the Central Gas Company, similar to the Gas Company.

North And the Southern Gas, and is responsible for the exploration and development operations of the gas formations in Baghdad Anbar, Diyala, Wasit, Karbala, Najaf, Babil, and Diwaniyah.

But Source The informed oil expert, who spoke to Sumaria News, refusing to reveal his identity for reasons related to his work, said, “The mentioned number of exploration blocks is exaggerated and does not amount to 9 blocks in Anbar, but rather one block that was referred to a company that is not specialized in exploration and development. In fact, Anbar only includes the Akkas field, which was referred to a fictitious company,” he said.

He consideredSource“Managing a single field or a field with an exploration area does not require the establishment of a new company in the presence of the Central Oil Company, for several reasons, including technical reasons, as it is not possible to provide the necessary cadres to manage...

The company From Anbar Governorate, it is impossible for the cadres to move from North or South" To live in Anbar Governorate in the current situation, as evidenced by the fact that all the workers in the Akkas field currently are from Anbar and are only recent graduates who do not have any technical experience."

He added that "the current volume of work does not rise to the level of establishing a formation larger than a department, in addition to financial reasons, as establishing a company requires establishing very many financial grades and providing very large financial allocations to cover salaries and allowances that we do not need at the present time in light of the financial crisis and job slack and the presence of the Central Oil Company, which is doing its duty to work without the need to expand job grades."

In addition, there are administrative reasons according to Source He pointed out that "establishing a new company will increase the burden on the ministry in following up on work due to the dispersion of the source of information instead of concentrating it in one source."

He considered that linking the establishment of this The company Similar to the organizational and administrative structure of the two gas companies South And the north, this is not possible, because the gas company South It receives associated gas produced from the Basra fields, all of which are located within one geographical area, as is the case for gas North “Which receives gas from the Kirkuk fields, which are located in one geographical area,”

he added. “As for the central oil fields, they are distributed across 8 governorates, and it is not possible in any way to link all of these fields due to the vast geographical areas in which they are located,” noting that “the scope of work of the two gas companies is North

The south is for processing and manufacturing associated gas to obtain secondary products such as liquid gas, sulfur, dry gas, etc. (i.e. they are considered central processing stations) and they are not responsible for extracting gas, as it is the responsibility of extraction companies.

He explained that “in the central oil, the gas is completely processed in the fields of Al-Ahdab, Badra, and Sharq.BaghdadThe Akkas and Mansouriya projects also include treatment stations (meaning that treatment is carried out on-site in each field and according to modern international specifications), so there is no additional untreated gas to be sent to a new company for treatment purposes.”

He considered that “what was stated in the letter of the Ministry of Oil that the quantity to be invested by thisThe companyThe figure of 3,500 million cubic feet is a number that must be reviewed by the specialized departments in the ministry, as it is very far from the truth and it is impossible to have such numbers to be provided to this.

The company"New," considering that "what was mentioned above shows that there are no technical, financial, or administrative goals that require the establishment of a new gas company, but rather the goal is a political goal, perhaps for the purpose of exploiting positions and job grades," he said.  LINK

light Decrease In Dollar Exchange Rates In Local Markets

Monday 18 November 2024 10:56 | Economic Number of readings: 95  Baghdad / NINA / The dollar exchange rates recorded a slight decrease today, Monday, in the local markets in the capital, Baghdad, Basra and Erbil.   The exchange rates today were as follows: $100 = 150.750 dinars in Baghdad  $100 = 150.800 dinars in Erbil  $100 = 150.500 dinars in Basra.

https://ninanews.com/Website/News/Details?key=1169662

Seeds of Wisdom RV and Economic Updates Monday Morning 11-18-24

Good Morning Dinar Recaps,

BRICS COUNTRIES ARE REJECTING DE-DOLLARIZATION

The BRICS alliance was hellbent on kick-starting the de-dollarization agenda until the 16th summit in Russia’s Kazan region. Things have now taken a U-turn as the bloc members are slowly backtracking on the initiative.

The US dollar was seen as the main villain of the global economy where local currencies were kept at its mercy.

The agenda to break free from the clutches of the US dollar ignited the de-dollarization process started by the BRICS bloc. 

After Trump reclaimed the White House, talks about using the US dollar for trade are growing among member nations. Trump vowed to introduce a 100% tariff on all goods coming into the US for countries that denounce the USD.

If the tariff comes into effect, the financial discrepancies could hit the BRICS alliance harder than thought. Their import and export sector will take the first hit leading to losses by paying up extra in taxes. This could make BRICS rethink their strategies as de-dollarization could only harm their native economies.

BRICS Slowly Backtracking on De-Dollarization

BRICS member India was the first to publicly reject the de-dollarization agenda kick-started by the bloc. The Foreign Minister of India, S. Jaishankar confirmed that the country is not interested in the de-dollarization process.

He revealed that India will use local currencies only when the option to not settle trade in the US dollar arises. “We have never actively targeted the US dollar. That’s not part of our economic, political, or strategic policy,” he said.

In addition, BRICS member Russia is also slowly backtracking on the de-dollarization process after Trump’s victory. Putin called the USD a “pillar of US power.” 

He added, “Our proposals are not aimed against [the] dollar. This is simply us rising to the challenge of modern times, in response towards the development of the economy we are thinking.”

@ Newshounds News™

Source:  Watcher Guru

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BLACKROCK RECEIVES LICENSE TO OPERATE IN ABU DHABI

BlackRock has secured a license in Abu Dhabi, focusing on AI and private markets while expanding its presence in the UAE’s crypto-friendly ecosystem.

BlackRock, the multinational investment firm and spot Bitcoin exchange-traded fund (ETF) issuer, received a commercial license to operate in Abu Dhabi, the capital of the United Arab Emirates.

According to Bloomberg, the approval granted on Nov. 18 reflects BlackRock’s interest in expanding in the crypto-friendly region.

The company is also seeking a license to operate in the Abu Dhabi Global Market (ADGM), an international financial hub in Abu Dhabi, home to crypto companies like Blockdaemon, M2 and Laser Digital.

BlackRock to focus on AI infrastructure in Abu Dhabi

Despite the UAE being a popular crypto hub, the report did not mention digital assets. BlackRock’s Middle East head, Charles Hatami, said in a statement to Bloomberg that the company will focus on private markets and artificial intelligence infrastructure.  

The move aligns with broader AI investments in Abu Dhabi. On April 16, Microsoft announced that it had invested $1.6 billion in an Abu Dhabi-based AI tech holding company called G42. The technology conglomerate said that the investment aims to push AI development in the region and globally.

On Sept. 17, Microsoft also announced that it would be establishing two AI centers in Abu Dhabi as part of its global AI expansion. One center would support AI projects to solve “key societal goals,” while the other would develop industry standards for responsible AI use.

BlackRock has yet to provide further details on its plans for the UAE beyond obtaining a license to operate in the region.

Crypto-friendly investment fund lays roots in a digital asset hub
Hatami said Abu Dhabi has become a “global financial center.” He also praised the region’s government for being proactive and committed. The executive stated:

“Its strategic location, proactive government policies, and commitment to sustainable growth make it an ideal location for capital markets.”

BlackRock issues the iShares Bitcoin Trust ETF, which gives United States-based investors exposure to Bitcoin. On Nov. 8, the spot Bitcoin ETF surpassed $33 billion in net assets, exceeding its iShares Gold Trust ETF, which gives investors exposure to gold.

The UAE continues to establish itself as a leader in digital finance. On Aug. 30, the country ranked third in a crypto adoption index released by Henley & Partners, an investment migration consultancy firm.

@ Newshounds News™

Source:  CoinTelegraph

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Do you know how to sign your name?  Mason explains it!

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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“Tidbits From TNT” Monday Morning 11-18-2024

TNT:

Tishwash:  Delete zeros and evaluate the dinar

Ali Daadoush

In a newspaper column a while ago, we explained the concept of deleting zeros, and today we are talking about the concept of currency revaluation, which means a calculated upward adjustment of a country’s official exchange rate relative to a chosen baseline, which can include (wage rates, the price of gold, or a specific foreign currency), and revaluation is the opposite of devaluation.

In a fixed exchange rate system (the system followed by Iraq), only a decision from the state (the central bank) can change the official value of the currency, and developing economies are likely to use a fixed exchange rate system in order to limit speculation and provide a stable monetary system in the country.

In a flexible exchange rate system, revaluation occurs on a regular basis, as evidenced by the noticeable fluctuations in the foreign exchange market and the associated exchange rates.

For example, the United States maintained a fixed exchange rate until 1973, when President Richard Nixon decided to abandon the gold standard and switch to a flexible exchange rate system.

 As for China, despite having an advanced economy, its currency remained fixed until 1994, before the Chinese government revalued its currency in 2005, which was linked to the US dollar. After the revaluation, it was linked to a basket of global currencies.

The decision to revalue a domestic currency affects the economy as a whole, as it affects both the currency being examined and the valuation of assets held by foreign companies in that particular currency.

Since revaluation has the potential to change the exchange rate between two countries and their currencies, the book values ​​of assets held abroad may have to be adjusted to reflect the effect of the change in the exchange rate.

For example, suppose a foreign government has set 10 units of its currency to equal one US dollar. To revalue its currency, the government might change the rate to 5 units per dollar, making its currency twice as expensive when valued in US dollars as it was before.

If the above-mentioned currency revaluation occurs, any assets held by a U.S. corporation in the foreign economy must be revalued. If the value of the asset held in a foreign currency was previously valued at $100,000 based on the old exchange rate, the revaluation requires a change of $200,000. This change reflects the new value of the foreign asset in the local currency by adjusting the revaluation of the relevant currency.

Another example is what the Iraqi government did in 2023 when it raised the value of the Iraqi dinar from 1450 dinars/dollar to 1300 dinars/dollar. link

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Tishwash:  Al-Araji: Iraq stands on the cusp of a historic digital transformation

National Security Advisor, Qassim al-Araji, said on Monday that Iraq stands on the cusp of a historic digital transformation to promote sustainable infrastructure, pointing to Iraq's commitment to developing a comprehensive digital national strategy.
 
 Al-Araji said, in a speech during the Iraqi Digital Forum, which was attended by a reporter of the Iraqi News Agency (INA): "The Prime Minister sent his greetings and apologies for not attending due to an emergency circumstance."

"The forum represents a platform that brings together a group of local and international experts and leaders in the fields of technology and strategies to discuss and achieve a promising Iraqi digital vision," al-Araji said.

He added that "digital transformation is the basis of countries' progress, and Iraq stands on the threshold of a historic opportunity to determine its digital readiness and keep pace with global development," noting that "the forum reflects Iraq's commitment to establishing a safe and sustainable digital infrastructure."

He noted that "the forum aims to achieve a set of objectives, most notably:

Promote intersectoral cooperation by building effective partnerships between the public and private sectors, academic institutions and international bodies.

Addressing cybersecurity challenges as a key priority. 

Support e-commerce and electronic payment to facilitate economic operations. 

Enabling artificial intelligence in building an advanced digital economy.

"The National Security Adviser plays a pivotal role in formulating policies and legislation, co-ordinating between security and intelligence agencies, and preparing national strategies in various fields," al-Araji said.

He stressed "the importance of laying the foundations of a digital national strategy in line with government directions," pointing out that "the participation of prominent figures from the Parliament and advisors to the Prime Minister, along with representatives of international institutions and the director of the Arab Regional Center for Cybersecurity, reflects a serious commitment to promote integration between scientific research and innovation."

He praised "the efforts of Iraqi universities and the role of the private sector in supporting digital transformation," stressing that "the Supreme Committee for Digital Transformation, headed by the Prime Minister, is working to lay the right foundations to achieve a comprehensive digital transformation that contributes to eliminating financial and administrative corruption and reducing red tape, in a way that directly serves the citizen."   link

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Tishwash:  Can the population census succeed in drawing a new economic policy in Iraq?

The Iraqi government is preparing to conduct a general population census on November 20, the first census to include all regions of Iraq in nearly 4 decades.

Iraq witnessed the last general population census that included all its governorates in 1987, and although the country conducted another population census in 1997, the latter did not include the governorates of the Kurdistan Region, because they were semi-independent from Iraq during the era of the former regime.

The population census represents a vital tool for formulating economic policies based on updated facts and data that enhance the government's ability to achieve comprehensive and balanced economic growth, while addressing economic and social challenges.

On the subject, the financial and banking specialist, Mustafa Hantoush, said in an interview with / Al-Maalouma / Agency that the Iraqi state's funds are scattered and it does not know where to direct them or where to start the development process, indicating that “The general population census is full of positives and has no negatives.”

He comes added, "There are no higher policies or clear lines to work on, and every country that puts forward its ideas far from the needs of society, and the population census will end this chaos by clarifying a number of important matters."

He pointed out that "Iraq has clear economic problems in work, housing and diversifying the economy, and the state cannot solve them except by conducting a general population census."

For his part, economic expert Dhurgham Muhammad confirmed that the results of the general population census will help the government reach a realistic formula and vision during the preparation and amendment of next year's budget schedules, while he pointed out the necessity of having a real reading of the future of oil prices for next year in order to determine a reasonable price for a barrel of oil that will be adopted by the 2025 budget.

Mohamed Ali said in a statement to Al-Maalouma Agency, “The amendments to the 2025 budget schedules will depend scientifically and realistically on the results of the general population census that will be conducted at the end of this month,” indicating that “the census Results will give the government clarity when conducting transfers and drawing up realistic development plans.” 

He added that "the authorities responsible for preparing the budget must re-read it for the future of oil prices and adopt an appropriate and realistic price that is consistent with the expectations of global oil market experts, when preparing the schedules for next year, as Most indicators confirm a decrease in oil prices for security and economic reasons.”

Recently, rumors have spread on social media that the general population census will lead to the cutting of welfare salaries or the imposition of new taxes on citizens.

In this context, MP Aref Al-Hamami said in an interview with Al-Maalouma, “What is being said is inaccurate and we deny it completely and in detail through our close knowledge of the census’s progress and its great benefits in preparing the country’s strategic Plans for decades in terms of economy and development.”

He pointed out that "effective participation with the provision of accurate information will ensure the existence of comprehensive data that gives the government a vision in drawing the foundations of its future plans directly."

The general population census will be launched on the 20th and 21st of this month in all Iraqi governorates, which will include a curfew. About 120,000 enumerators will participate in the census, while the Ministry of Planning confirmed that this census will contribute to knowing the real numbers of the population and the living conditions that will be invested for development purposes.   link

Mot............. Oh Yea.. Morning  

Mot: . Plurals Can Be So Weird Sometimes 

MilitiaMan & Crew - IQD News Report - Contracts - Projects - Non Oil Revenue Streams - Activating Private Sector

MilitiaMan & Crew - IQD News Report - Contracts - Projects - Non Oil Revenue Streams - Activating Private Sector

11-17-2024

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=sk06SETFjm8

Iraq Economic News and Points to Ponder Sunday Afternoon 11-17-24

The President Of The Republic Stresses The Need To Develop A Future Strategy For Financial Policy According To Transparent Standards

Sunday 17 November 2024 13:06 | Economic Number of readings: 209  Baghdad / NINA / President of the Republic Abdul Latif Jamal Rashid stressed the necessity of developing a future strategy for financial policy according to transparent standards. The media department of the Presidency of the Republic stated in a statement that "President of the Republic Abdul Latif Jamal Rashid received at the Baghdad Palace, Governor of the Central Bank Ali Mohsen Al-Alaq.

" It added that "during the meeting, plans were reviewed to reform and develop the government and private banking sector, and support the work of the Central Bank, to enhance financial stability and achieve economic development."

According to the statement, the President of the Republic stressed the necessity of developing a future strategy for financial policy according to clear transparent standards that contribute to developing the services provided to the citizen, and building a solid banking sector.

In turn, Al-Alaq reviewed the plans and procedures of the Central Bank aimed at developing the banking sector to play its role in facing economic challenges. / End 11 https://ninanews.com/Website/News/Details?key=1169498

Al-Atwani To The French Embassy Delegation: Halting External Borrowing Indicates An Improvement In Iraq’s Financial Policy

Money and business  Economy News – Baghdad  The head of the Finance Committee, Atwan Al-Atwani, explained on Sunday, during his meeting with the French embassy delegation, that the cessation of external borrowing indicates an improvement in Iraq's financial policy.

A statement issued by the media office of the Council of Representatives, and seen by "Economy News", stated that "the head of the Finance Committee, Atwan Al-Atwani, received a delegation from the Economic Attaché at the French Embassy in Baghdad."

The statement continued, "During the meeting, the financial and economic situation in the country was reviewed, in addition to the role of the Finance Committee in monitoring spending and implementing the items of the general budget.

" Al-Atwani pointed out "the priorities that his committee is currently working on, most notably maximizing non-oil revenues to avoid the risks of fluctuations in global oil prices on the Iraqi economy, in addition to preparing a package of important legislation that would bring about a qualitative shift in the financial and banking sector."

He explained that "the decline in foreign borrowing indicates an improvement in our financial policy," noting that "the decline in foreign debts came after conducting a comprehensive review of the feasibility of these loans, as we stopped them and began to pay off the old ones, and we obligated that borrowing be only for productive projects that achieve a financial return and not for consumer sectors."

Al-Atwani called on French companies to "enter the Iraqi market forcefully, especially since they have previous successful experiences in implementing strategic projects."

He pointed out that "the provisions of the general budget gave the government the opportunity to encourage foreign companies to invest their money in the country by providing sovereign guarantees."

For his part, the French delegation expressed its happiness with this fruitful meeting, stressing "his country's desire to strengthen relations in various development fields with Iraq in a way that achieves the interests of the two friendly peoples."   https://economy-news.net/content.php?id=49929

Gold Rises Again In Baghdad  

Stock Exchange  Economy News – Baghdad   The prices of foreign and Iraqi gold rose today, Sunday, in the local markets in Baghdad.

Gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 538 thousand dinars, and a purchase price of 534 thousand.

The selling price of one mithqal of 21-karat Iraqi gold reached 508 thousand dinars, and the purchase price was 504 thousand.

As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranged between 540,000 and 550,000 dinars, while the selling price of a mithqal of Iraqi gold ranged between 510,000 and 520,000 dinars.    https://economy-news.net/content.php?id=49919

Find Out The Dollar Exchange Rates In The Iraqi Markets With The Closing Of The Stock Exchange

Economy  |  11/17/2024   Mawazine News – Baghdad  The US dollar exchange rate stabilized in the capital Baghdad on Sunday, while it declined in Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar prices stabilized with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 150,350 dinars per 100 dollars, the same prices recorded this morning.

As for the selling prices in the field of exchange in the local markets in Baghdad, they stabilized, as the selling price reached 151,250 dinars per 100 dollars, while the purchase price reached 149,250 dinars per 100 dollars.

In Erbil, the dollar recorded a decrease, as the selling price reached 150,100 dinars per 100 dollars, while the purchase price reached 150,000 dinars per 100 dollars.  https://www.mawazin.net/Details.aspx?jimare=256651

Central Bank Sells About $300 Million In Auction Today

Time: 2024/11/17 Read: 1,599 times  {Economic: Al Furat News} The Central Bank of Iraq’s dollar sales, on Sunday, amounted to more than $298 million in the currency auction.

The bank sold in its auction today 298 million, 833 thousand and 614 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.

Most of the dollar sales went to boost balances abroad in the form of transfers and credits, which amounted to $279,583,614, up 96% from cash sales of $19,250,000.

The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 16 banks, and the total number of exchange companies participating in the auction was 16 companies.  LINK

Decline In Iraq's Oil Exports To America During The Week

Time: 2024/11/17 09:20:12 Read: 1,170 times  {Economic: Al Furat News} The US Energy Information Administration announced, today, Sunday, a new decline in Iraq's oil exports to America during the past week.

The administration stated in a table that "the average US imports of crude oil during the past week from 9 major countries amounted to 5.703 million barrels per day, an increase of 104 thousand barrels per day from the previous week, which amounted to 5.599 million barrels per day."

She added that "Iraq's oil exports to America amounted to 121 thousand barrels per day last week, down by 62 thousand barrels per day from the previous week, which amounted to 183 thousand barrels per day."

The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 3.953 million barrels per day, followed by Mexico at an average of 384 thousand barrels per day, then Venezuela at an average of 359 thousand barrels per day, and Brazil at 280 thousand barrels per day."

According to the table, "the amount of US imports of crude oil from Ecuador amounted to 247 thousand barrels per day, from Colombia 142 thousand barrels per day, Saudi Arabia 140 thousand barrels per day, and Nigeria 77 thousand barrels per day, while it did not import any amount from Libya. LINK

A Workshop In Basra Discusses With Foreign Oil And Gas Companies Encouraging Investment And Development In The Province

Sunday 17 November 2024  Economic Number of readings: 128  Basra / NINA / The Security Committee of Basra Provincial Council sponsored, on Sunday, a workshop to reach a sustainable and effective partnership with foreign companies and encourage them to work and invest in the province.

The head of the committee, "Aqeel Talib Al-Furaiji," said according to his media office, "The workshop aims to reach a real, sustainable and effective partnership to reach a common vision between government sectors and security agencies with foreign companies operating in Basra through security, technical and informational communication according to the borders, contexts and controls in effect to encourage the active investment movement witnessed by Basra to return with economic, reconstruction and developmental benefits to Basra and Iraq in general."

He stressed the importance of this pivotal strategy that Basra Governor "Asaad Al-Eidani" worked on in the previous period, and what Basra witnessed in terms of development, reconstruction, construction, competition, rise and renaissance over the rest of the other provinces, including the capital Baghdad and the Kurdistan Region, and his giving the utmost importance to this vital file as it is one of the files of common interest that serves the interests of the local government and foreign companies wishing to invest and work in Basra."

For his part, the Director of Schlumberger Company in Iraq praised the holding of this workshop, which strengthens the relationship and work between the Iraqi authorities and foreign oil and gas companies, indicating that "this workshop represents an important link in the efforts to enhance cooperation and joint coordination to enhance security in the province, and enhance stability and development to create a more secure environment to encourage more investment and create a balance aimed at accelerating economic growth and deepening the spirit of cooperation between the Iraqi authorities and the oil and gas industry in the province." / End   https://ninanews.com/Website/News/Details?key=1169515

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 11-17-24

Good Afternoon Dinar Recaps,

RIPPLE IPO ON THE HORIZON? SBI CEO URGES ACTION AS XRP LAWSUIT HEATS UP

XRP surged above $1.20 over the weekend, marking an 87% weekly gain and hitting a three-year high. The rally gained momentum after 18 U.S. states sued the SEC and its chairman, Gary Gensler, accusing the agency of overreaching in its regulation of the crypto industry. This significant development reignited discussions around Ripple’s potential Initial Public Offering (IPO).

With Trump’s win, many speculations are doing the rounds like the Ripple vs SEC case dismissal, IPO, and Stablecoin launch. Since the regulatory matters are at ease, there are chances that Ripple may come with an IPO soon to maximize the current bull run.  

SBI CEO Pushes for Ripple’s IPO

Yoshitaka Kitao, CEO of SBI Holdings, has urged Ripple to start preparing for an IPO “as soon as possible” once its legal battle with the SEC concludes. Ripple has been entangled in a prolonged lawsuit with the SEC, which recently filed an appeal in October. However, many analysts speculate that the SEC’s internal shake-ups could lead to the appeal being dropped, clearing Ripple’s path for a public offering.

Brad Garlinghouse’s Take on IPO Plans

Ripple CEO Brad Garlinghouse has reiterated that while an IPO is not currently a “high priority,” he hasn’t ruled it out entirely. In 2022, he mentioned that Ripple would consider going public after resolving the SEC lawsuit. Though Ripple’s financial stability reduces the immediate need for an IPO, Garlinghouse had earlier envisioned the company going public within a year, a timeline disrupted by ongoing legal challenges.

Ripple Co-Founder Transfers XRP

Amid XRP’s price rally, Ripple co-founder Arthur Britto moved 80 million XRP tokens, with 10 million heading to Binance. This movement has sparked speculation within the community about Ripple’s potential plans, including whether the company is inching closer to an IPO.

Ripple’s Future at a Crossroads
While the IPO discussion gains traction, Ripple remains in a “wait-and-see” mode. The company’s past plans for an IPO were derailed by the SEC lawsuit, but recent legal and market developments may bring the idea back into focus. With regulatory hurdles potentially easing, Ripple’s IPO could mark a historic shift in its trajectory, offering investors a new avenue to engage with the blockchain leader.

In the meanwhile, XRP surged by 25% today, nearing the local resistance level of $1.0739. If buyers maintain momentum, a breakout could push the price to $1.10 and potentially to the $1.15-$1.20 range next week. However, if the weekly candle closes far from this resistance, a correction to the $0.90-$0.95 zone may occur. At press time, XRP trades at $1.0522.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

CRYPTO.COM EXPANDS OFFERINGS WITH ACQUISITION IN AUSTRALIA

Crypto.com has announced its acquisition of Fintek Securities Pty Ltd., a brokerage firm with an Australian Financial Services Licence regulated by the Australian Securities and Investments Commission.

This move allows Crypto.com to broaden its financial product offerings, including derivatives, securities, foreign exchange, and managed investment schemes, to eligible users.

CEO Kris Marszalek highlighted the acquisition as a key step in the company’s mission to create a comprehensive financial services platform that simplifies user experiences and maximizes rewards.

This acquisition marks the second by Crypto.com to enhance traditional brokerage capabilities within its family of companies, following its earlier acquisition of SEC-registered broker-dealer Watchdog Capital, LLC, aimed at expanding its U.S. offerings.

@ Newshounds News™

Source:  Bitcoin News

~~~~~~~~~

SEC CHAIR GARY GENSLER’S BEHAVIOR CANNOT BE CHALKED OFF AS ‘GOOD FAITH MISTAKES,’ SAYS TYLER WINKLEVOSS

Winklevoss believes that Gary Gensler should never be allowed to hold any position of influence to prevent future misuse of government power.

The actions of the U.S. Securities and Exchange Commission (SEC) chair Gary Gensler cannot be “explained away” as “good faith mistakes,” former Olympic rower and crypto exchange Gemini co-founder Tyler Winklevoss wrote in a post on X on Saturday. He added:

“It [Gensler’s actions] was entirely thought out, intentional, and purposeful to fulfill his personal, political agenda at any cost.”

Gensler carried out his actions regardless of consequences, Winklevoss said, calling Gensler “evil.” Gensler did not care if his actions meant “nuking an industry, tens of thousands of jobs, people’s livelihoods, billions of invested capital, and more.”

Winklevoss further stated that Gensler has caused irrevocable damage to the crypto industry and the country, which no “amount of apology can undo.”

Venting his frustration, Winklevoss wrote:

“Americans have had enough of their tax dollars going towards a government that is supposed to protect them, but instead is wielded against them by politicians looking to advance their careers.”

Winklevoss believes that Gensler should not be allowed to hold any position at “any institution, big or small.” He added that Gensler “should never again have a position of influence, power, or consequence.”

In fact, Winklevoss said that any institution, whether a company or university, that hires or works with Gensler after his stint at the SEC “is betraying the crypto industry and should be boycotted aggressively.”

According to Winklevoss, stopping Gensler from gaining any power again is the “only way” to prevent misuse of government power in the future. Winklevoss has long been a vocal critic of the SEC and Gensler, who he believes uses the ‘regulation through enforcement’ doctrine.

Winklevoss is far from being the only one accusing the SEC of abusing its powers. Earlier this week, 18 U.S. states, filed a lawsuit against the SEC and Gensler, alleging “gross government overreach.”

Republican President-elect Donald Trump promised to fire Gensler on his first day back at the White House during his election campaign. The Winklevoss brothers donated the maximum allowed amount per individual to Trump’s campaign.

The SEC is an independent agency, which means the President does not have the authority to fire Gensler. However, Gensler’s term ends in July 2025.

Trump transition team officials are preparing a short list of key financial agency heads they will present to the president-elect soon, Reuters reported earlier this month citing people familiar with the matter. So far, there are three contenders for the list: Dan Gallagher, former SEC commissioner and current chief legal and compliance officer at Robinhood; Paul Atkins, former SEC commissioner and CEO of consultancy firm Patomak Global Partners; and Robert Stebbins, a partner at law firm Willkie Farr & Gallagher who served as SEC general counsel during Trump’s first presidency.

While nothing is set in stone yet, Gallagher is the frontrunner, according to the report.

@ Newshounds News™

Source:  CryptoSlate 

  ~~~~~~~~~

🌱ORIGINAL DESCRIPTIONS #CONSTITUTION #SOVEREIGNTY  |  Youtube

Mason gives us some history on our Constitution and who we are.  A very important message.

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Some “Iraq News” Posted by Clare at KTFA 11-17-2024

KTFA:

Clare:  Urgent  Parliament Presidency sets date for resuming sessions

11/16/2024

The Parliament Presidency set, today, Friday, the date for resuming sessions next week after the completion of the population census operations in the country.

The media department of the House of Representatives stated in a statement received by {Euphrates News} that "the Presidency of the House of Representatives affirms its full support for conducting the general population and housing census 2024, and urges the representatives to direct and encourage citizens in their areas to cooperate with the field teams affiliated with the Ministry of Planning to accomplish their tasks with the aim of making the census operations that will be conducted on the 20th and 21st of this month a success." 

The statement confirmed, "Given the presence of representatives in their governorates and the importance of the census, it was decided to resume the sessions next week after the completion of the population census operations in the country."   LINK

Clare: Al-Sudani approves 35 new service projects to be attached to 2024 projects

11/16/2024

Iraqi Prime Minister Mohammed Shia al-Sudani approved, on Saturday, adding dozens of new service projects to the 2024 projects in the capital, Baghdad, and other governorates.

This came during his chairmanship of the periodic meeting of the service and engineering effort team, according to a statement issued by Al-Sudani's media office.

The statement said that the meeting witnessed a review of the progress of the projects being implemented by the effort team, and the rates of achievement achieved in them. Approval was also given to 35 new service projects attached to the 2024 projects, which will begin implementation within 10 days in Baghdad and a number of governorates.

The Prime Minister stressed the need to complete the 2024 projects before the end of the year, noting that these projects must be implemented according to high standard technical specifications, in order to provide services to citizens in a qualitative and distinctive manner.  LINK

**

Clare:  Industry confirms success by signing 4 investment contracts for strategic industries

11/16/2024 Baghdad

The Ministry of Industry and Minerals announced today, Wednesday, the launch of 256 investment opportunities through three conferences, while confirming the success of signing 4 investment contracts in strategic industries. 

The ministry's spokesperson, Dhuha Al-Jubouri, said in a statement received by "Mawazine News": "The Ministry of Industry held three conferences: the first was the Mineral Investment Conference in Baghdad under the patronage and attendance of the Prime Minister, during which 31 investment opportunities were launched. The second was the Industrial Partnerships Forum in the presence of the Prime Minister, during which 90 investment opportunities were launched. The third was the Baghdad International Forum for Industry and Mining, which was held a month ago, during which 135 investment opportunities were launched. 

" She added, "The ministry's vision regarding conferences is to present private investment opportunities in a transparent manner to the media in the presence of investors, businessmen and investment companies, in order to review all investment opportunities related to the Ministry of Industry and Minerals."

She added, "The submission of offers for these industrial opportunities is by investors, businessmen and investing companies, and the best is chosen after studying the offers," noting that "the ministry succeeded in signing a number of participation contracts on the basis of these conferences that it held in previous periods, and a number of participation contracts were signed for important strategic industries in the presence of the Prime Minister

 Including a contract to establish, rehabilitate and develop a refined sulfur production line in Nineveh Governorate for the Mishraq 1 field with a capacity of one and a half million tons annually of refined sulfur production, and a contract to produce the fertilizer project in Baiji and also Abu Al-Khaseeb fertilizers in Basra Governorate was signed, and a contract was signed for the glass and refractories construction project in Ramadi and the sodium carbonate production project, the foundation stone of which was laid this year with the expansion of the sodium and chlorine plant project in Al-Musayyab district in Babylon."

She stated that "these contracts came as a result of the conferences held by the ministry," explaining that "the offers presented at the last conference are under study and the best of them are being selected."   LINK

Clare:  Advance payment and tax benefits" .. This is how Turkmenistan will export gas to Iraq, the "rare customer"

11/16/2024

The Times of Central Asia reported on Saturday that Turkmenistan has signed what it described as a “binding agreement” for gas shipments to Iraq via Iran, after obtaining Iraq’s approval for an “advance payment plan and tax concessions.”

The newspaper pointed out in a report translated by Shafaq News Agency, the importance that Turkmenistan attaches to the agreement with Iraq, the "new and rare customer" that will import large quantities of gas from this country, which has the fourth largest gas reserves in the world.

The New York-based newspaper's report explained that Turkmenistan is reshaping its options for exporting natural gas, noting that despite its current ranking of 4th in the world, it is currently exporting a smaller quantity of gas than it did 16 years ago.

Mega projects

The report pointed out that the huge gas pipeline projects that were envisioned about 30 years ago, including the pipeline across Afghanistan to supply gas to Pakistan and India, and the pipeline across the Caspian Sea to transport gas to Europe, remain unfeasible for political reasons.

The report added that Russia was previously a major customer of Turkmen gas for most of the past three decades, but Moscow is now competing for some of the same potential buyers as Turkmenistan.

The report said that after Turkmenistan stumbled in its quest to find new markets, it now intends to sell gas to Iraq, by arranging a swap deal with Iran that includes bringing Iranian companies to Turkmenistan to build a new pipeline.

The report pointed out that while Turkmenistan was looking for new customers for gas, Iraq was not a potential buyer of gas until recently, noting that the Nabucco gas pipeline project, which has been stalled for about 15 years, had envisioned Iraq as a potential source of gas to Europe.

Interesting deal

The report described Turkmenistan's deal with Iraq as "interesting, and the only deal available for verification at the present time.

The report explained that since the two countries are not connected by any pipelines, Turkmenistan will ship up to 10 billion cubic meters of gas to Iran, which will in turn ship 10 billion cubic meters of Iranian gas to Iraq.

The report added that Turkmenistan signed what was described as a "binding agreement" for these gas shipments, after obtaining Iraq's approval for "an advance payment plan and tax concessions."

The report stated that about 40% of Iraq's gas imports in recent years came from Iran, indicating that the gas industry in Iraq is still in the recovery phase after years of war, and it needs imported gas to operate power plants in the country, noting that the sanctions imposed on Iran have made it difficult for Iraq to pay financial payments for this Iranian gas.

The report pointed out that there are two pipelines linking the gas fields in Turkmenistan to northern Iran. The first is the 200-kilometre-long Korbeji-Kordkuy pipeline, which was launched in 1997, and the second is the Dowlatabad-Sarakhs-Khanjiran pipeline, which was launched in January 2010.

However, the report explained that Turkmenistan was unable to ship the necessary quantity in the two lines, which have a combined capacity of 20 billion cubic meters. Its exports ranged between 6-8 billion cubic meters annually for years, while Tehran was paying for Turkmen gas through barter, exporting a range of goods, including food and engineering services to Turkmenistan.

The report stated that a dispute arose between the two countries in late 2016, as Turkmenistan claimed that Iran owed it about $2 billion for gas it received in the winter of 2007-2008, while Iran responded by saying that Turkmenistan was working to inflate the price.

The report explained that the winter of that year was extremely cold, which caused a severe shortage of gas in 20 Iranian provinces. Iranian media reported in December 2016 that “Turkmenistan exploited this situation to demand a 9-fold increase in the price, which led to the price rising to $360 from $40 per 1,000 cubic meters of gas.”

The report added that on January 1, 2017, Turkmenistan stopped gas supplies to Iran, and the two countries resorted to international arbitration, a case that was eventually settled in Turkmenistan's favor in June 2020.

The report indicated that Iranian and Turkmen officials are holding talks on gas, but after about 8 years, Turkmen gas exports to Iran have not resumed.

The report pointed out that shipping 10 billion cubic meters of gas from Turkmenistan to Iran requires maintenance and repair operations for the two damaged pipelines linking the two countries.

He added that officials from the two countries held a meeting in July 2024 to sign a gas transportation contract, an agreement that stipulates that “Iranian companies will establish a new 125-kilometer gas pipeline along with three gas pressure booster stations in Turkmenistan with the aim of increasing annual gas shipments to Iran to 40 billion cubic meters.”

According to the report, the Iranian companies participating in the project have not been identified, but this represents an exceptional step by Turkmenistan to allow foreign companies to implement such a project.

The report noted that increasing gas shipments to Iran to 40 billion cubic meters would require the construction of a new pipeline with a capacity of 20 billion cubic meters of gas, which would double the current total capacity of the two existing pipelines. It noted that another unclear issue is that only 10 billion cubic meters of this gas will go to Iraq, while the final destination of the remaining 30 billion cubic meters that Iran plans to import is not clear.

The report concluded that Turkmenistan is trying to sell gas to anyone interested, noting that among the countries mentioned by Turkmen officials as potential customers are Azerbaijan, Turkey, Afghanistan, Pakistan, India, Kazakhstan, and the European Union, but in a vague manner, adding that China is currently the main buyer of Turkmenistan's gas, supplying it with about 35 billion cubic meters of gas.

He pointed out that Russia has significantly reduced its imports of Turkmen gas since 2009, and Russia has also become Turkmenistan's main competitor for regional customers, including Kazakhstan and Uzbekistan, which are neighboring countries of Turkmenistan.

Afghanistan’s gas exports are also unlikely for now due to the lack of foreign investors. Turkmenistan also lacks the infrastructure to export its gas to Europe via Türkiye and Azerbaijan.

The report continued by saying that the 40 billion cubic meters referred to in the recent Iranian-Turkmen agreement could indicate that Iran will buy Turkmen gas again in the future, and in larger quantities than before, adding that the most secure deal that Turkmenistan can reach at the present time to increase its gas exports is the agreement with Iraq.

"It remains to be seen whether this swap arrangement, which includes Iran, can achieve the promised 10 billion cubic meters," he added.   LINK

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

Clare:  Al-Alaq: 90% of Iraqi housing projects are funded by the Central Bank with 13 trillion dinar

11/16/2024

The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed on Saturday that 90% of housing projects in Iraq are financed by the bank, and have led to the activation of economic activity in the country, noting that the financing of housing, commercial and investment loans has reached 13 trillion dinars.

Al-Alaq said during his speech at the conference held by Al-Baidar Center for Studies under the title "Transition towards a flexible economy in Iraq", which was attended by Shafaq News Agency correspondent, that "there must be a comprehensive strategy that focuses on policies that create a real partnership between the public and private sectors and move to mobilize economic tools, whether in financial or economic policy."

He pointed out that "one of these tools is the state's general budget, which constitutes a fundamental pillar in determining the paths of the economy and growth and represents a real confrontation with the challenge," indicating that "the absence of planning has become a kind of challenge represented by the fact that flexibility in the spending aspect is limited, and this requires that there be an ability to cover actual and real spending."

He explained that "restructuring the budget is necessary because the state's public spending determines many paths and the shape of the different economic trends and confronts the changes that occur in this framework."

Al-Alaq pointed out that "the recent call by Prime Minister Mohammed Shia al-Sudani to restructure the state ministries and their laws is aimed at addressing the role of the government and ministries and participation in the public and economic sector."

He stressed that "there is talk about resources that could generate revenues for the state, if there was real efficiency and effectiveness in generating revenues, and that there are many sources and opportunities to enhance those revenues," indicating that "the intensification with the change that occurs in oil prices leads to a decrease in the state's general budget revenues, and is reflected in the investment budget, and considering that the other part is represented by salaries and wages, the decrease in oil prices affects investments."

He explained that "monetary and fiscal policy constitute economic policy and there must be effective coordination between the two policies to reach acceptable results," stressing that "the preparation of the general budget must be a basic partner in shaping its features, and this matter is largely related to the function of the bank. For example, the size of the deficit has a direct impact on monetary policy and this must be studied directly."

Al-Alaq concluded by saying, “Supporting private sector financing should be a key partner with the government to implement the economic program in many sectors, and the Central Bank launched the initiative to finance residential, commercial and investment loans, and this number reached 13 trillion dinars to finance projects, as 90% of housing projects in Iraq are financed by the Central Bank and have led to the activation of economic activity in the country.”  LINK

Iraq Economic News and points to Ponder Sunday AM 11-17-24

Exchange Rates Will Rise Further...A Warning Of An Imminent Economic Crisis Due To The “Coldness” Of The Central Bank

 November 16, 2024  Baghdad / Iraq Observer  Economic affairs researcher Ziad Al-Hashemi warned of serious economic repercussions as the deadline for stopping the dollar platform approaches after six weeks, indicating that the

 Central Bank of Iraq is still dealing with the crisis coldly, which may lead to a rise in exchange rates and a scarcity of imported materials. Al-Hashemi explained in a post on the This could cause major disruptions in the markets.”

He added,   “Failing to address this file will lead to a portion of remittances going toward the parallel market, which will increase the demand for the dollar and raise its exchange rates significantly, which will reflect negatively on the prices of goods and services in the Iraqi market.” He also expected that

 this would hinder the ability of a large number of merchants to import, causing a scarcity of imported goods and an increase in their prices. He pointed out that

 “the Central Bank seems to be betting on a smooth transition process without problems,

 but it considered this bet unrealistic in the absence of a clear plan for managing the transitional phase.” Al-Hashemi concluded his warnings by saying,

  “The Central Bank has only six weeks to act and manage this crisis, otherwise delay will lead to catastrophic results that will cast a shadow on the Iraqi economy by the end of this year.”  

 https://observeriraq.net/اسعار-الصرف-سترتفع-اكثر-تحذير-من-ازمة/     

Discussing Mineral Investment And Export Mechanisms

Economical 11/17/2024  Baghdad: Al-Sabah   The Ministry of Commerce held a meeting of the Diwani Order Committee No. (23931), charged with the task of

      reviewing legislation related to mineral investment, and

     developing mechanisms for exporting raw materials and

     methods for obtaining an export license,

 headed by the Undersecretary for Economic Affairs, Ghassan Farhan, and in the presence of members of the committee.

 Farhan confirmed in a statement received by Al-Sabah that

 “during the meeting, recommendations were discussed that will hopefully achieve positive results and the necessary support for industries, mineral investment and exporters, after their approval by the Council of Ministers.”      https://alsabaah.iq/105963-.html     

Corporate Structuring... Stimulates Economic Growth

 Economical 11/17/2024  Yasser Al-Metwally   In a remarkable step, the government is moving towards correcting the structural defect in the performance and management of government (public) companies, to make them profitable and productive companies, at a time when most of them were declining and losing.

This comes by activating the work of the Supreme Committee formed for this purpose (corporate structuring) and giving it direct attention from the top of the authority pyramid.

 The restructuring of public companies aims to improve companies' performance, increase their efficiency, and develop their strategies.

 This enables it to help simplify operations and improve workflow, which increases operational efficiency and reduces costs, and which enables it (I mean companies) to increase their profits and achieve sustainable financial growth.

 In addition, restructuring allows companies to adapt to changes in the market, technology, and customer requirements. Which helps it achieve competitiveness.

 With a simplified definition of structuring, it includes achieving an equal partnership with the private sector, transforming them into joint-stock companies, and benefiting from the private sector’s expertise in their management, or by merging with each other similar companies that practice the same activity, as well as partial privatization of some of them, especially those that are losing and those scheduled for liquidation..

 It is necessary, and even certain, to preserve the rights of surplus workers, as

restructuring will lead to the displacement of surplus workers,

 which requires dealing with the surplus workers, in a way that achieves justice in obtaining their retirement rights, and benefiting from some intermediate experiences to put them in emerging companies, and

what is most important is It is to encourage them to engage in private activity, and to help them establish small projects of their own, through soft and encouraging loans.

 Thus, the structuring process can get rid of the biggest challenge facing it, which is surplus labor.

The repercussions of the structure will contribute to improving production processes, and

 this requires attention to training and development, which leads to improving the quality of products and services provided, which enhances customer satisfaction.

Restructuring helps better identify and manage risks, which contributes to companies' stability and flexibility in the face of challenges.

 By adopting flexible and innovative organizational structures, companies can enhance their ability to innovate and develop new products and services.

It may be useful to point out that structuring companies and converting them into joint stock companies will contribute to enhancing economic growth, through listing them in the Iraqi Stock Exchange, which stimulates the financial market, labor market, and growth.

 The bottom line is that corporate restructuring is a process that requires careful planning and effective implementation to ensure the achievement of the desired goals.  https://alsabaah.iq/105961-.html    

 For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Sunday Morning 11-17-24

Good Morning Dinar Recaps,

FINTECH STARTUP RAISES $1.5M TO DEMOCRATIZE MARITIME FINANCE

Maritime fintech startup Shipfinex secured $1.5 million in seed funding to democratize maritime finance through blockchain-enabled fractional ownership of maritime assets.

Democratizing Maritime Finance
Shipfinex, a maritime fintech startup, recently announced it has secured $1.5 million in seed funding. Gaurav Mehta, chairman of shipping asset trader Best Oasis Limited and Dubai-based company SPM Shipping DMCC, led the funding round. Vivek Seth, senior vice president at ADNOC Logistics & Services, and Yasovardhan Chinni, founder of Nanlian Ship Management LLC, also participated.

Shipfinex aims to democratize maritime finance by enabling fractional ownership of maritime assets through blockchain technology. The startup believes this investment will kickstart a partnership that uses blockchain to reshape access to maritime assets.

According to a press statement, Mehta, a veteran in ship cash-buying and energy asset markets, will bring his extensive industry insights to Shipfinex.

Shipfinex plans to use the funds to support its growth and develop a secure and compliant marketplace for maritime asset tokens. The company also aims to accelerate its regulatory advancement with Dubai’s Virtual Asset Regulatory Authority (VARA).

Commenting on his financial backing of Shipfinex, Mehta said:

Shipfinex represents the next era in maritime finance, expanding asset ownership and enhancing transparency and efficiency. We’re excited to support this transformative journey and redefine how the world invests in maritime assets.

Vikas Pandey, CEO and co-founder of Shipfinex, lauded Best Oasis Limited CEO’s support and industry insights as “invaluable.” Pandey believes this will be key in Shipfinex’s endeavor to “redefine access and expand investment opportunities within maritime finance.”

@ Newshounds News™

Source:  Bitcoin News

~~~~~~~~~

HOSKINSON EXPLAINS WHY CARDANO IS PREFERRED; ADA TO HIT AN ATH SOON?

Amidst the broader market optimism, Cardano’s price has been showing impressive surges lately as evidenced by its recent rally. Additionally, a flurry of developments around its founder Charles Hoskinson has also sparked market optimism.

Why Will It Reach An ATH?
In a latest X post, Hoskinson has praised the Cardano community. He explained why people prefer Cardano as he underscored that “We have the best community and the best entrepreneurs.

It’s a harder road, but it will change the world.” further, he also predicted the Voltaire update to make the ecosystem the “finest government ever assembled by humanity.”

Additionally, Charles Hoskinson visiting Elon Musk’s SpaceX office has also sparked speculations, given Musk’s rising influence in the US political landscape.

Besides, Hoskinson has recently said that he would support the Trump Government in shaping crypto legislation. He seeks to help the US administration in framing clear regulatory frameworks for digital assets, which have encountered regulatory pressure over the past few years.

Ripple CEO’s Comments Adds To The Optimism
The recent comments from Ripple CEO Brad Garlinghouse have also incited market optimism. He stated:

“The crypto industry has embraced Trump, Trump has embraced the crypto industry. I think it’s very genuine, and I think he sees the opportunity, he sees innovation, he sees entrepreneurship and I’m very excited about what the future holds.”

Garlinghouse highlighted that U.S.-linked crypto assets, such as XRP, SOL, and ADA, have outperformed other tokens due to the expected easing of regulatory pressure. He noted that the anticipation over pro-crypto policies under Trump administration has fueled the rally.

Besides, a prominent crypto market analyst Ali Martinez recently said that Cardano price is poised to hit $6 in 2025, further fueling the expectations of a potential ADA rally to its new ATH.

First Ever zkApp Launched On Cardano’s Midnight Sidechain
In the latest development, the first-ever zero-knowledge application (zkApp) has been launched on Cardano’s Midnight sidechain, that has excited both the community and the founder Charles Hoskinson as well. This innovation is a result of Midnight partnering with Paima Studios.

Sebastien Guillemot, the co-founder of Paima Studios, announced the launch of the zkApp on X. At its core, this partnership is set to simplify the development of multi-stack decentralized applications (dApps) and empower developers to leverage the strengths of different blockchain ecosystems seamlessly.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

XRP NEWS TODAY:  TRUMP MEETS WITH GARLINGHOUSE. WHY IS THIS IMPORTANT?  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Follow the Timeline 

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Subscribe to Newsletter

Thank you Dinar Recaps

Revalue Gold or Adopt Bitcoin Standard? US to Take ‘Drastic’ Action to Keep Dollar Strong: Mark Moss

Revalue Gold or Adopt Bitcoin Standard? US to Take ‘Drastic’ Action to Keep Dollar Strong: Mark Moss

Kitco News:  11-16-2024

The U.S. national debt recently surged past $36 trillion, and Mark Moss explains why inflation is the only viable path forward for the government.

 In a recent interview with Jeremy Szafron at Kitco News, Moss highlighted the rapid shift towards Bitcoin, predicting prices as high as $1 million by 2030.

 He also discussed sovereign nations accumulating Bitcoin, a phenomenon he referred to as “Sovereign FOMO,” which he believes will fuel a massive price rally. According to Moss, with Trump branding himself as the “Bitcoin President,” the U.S. is poised to adopt a strategic Bitcoin reserve, triggering a game theory scenario that could see other nations follow suit.

Moss also spoke about the challenges facing gold versus Bitcoin, emphasizing how Bitcoin is quickly emerging as the ultimate hedge against inflation amid record demand. He believes that gold could still play a role, possibly being revalued as a part of the U.S.'s response to currency pressures.

 Moss outlined why Bitcoin, unlike traditional assets, has a fixed supply and is being strategically accumulated by institutional and sovereign players—adding immense pressure on the limited availability of Bitcoin.

00:00 Introduction

 02:13 Financial Crisis and Market Outlook

05:58 Bitcoin's Unprecedented Surge

15:05 US Government's Bitcoin Strategy

19:29 Global Implications of Bitcoin Adoption

 26:03 El Salvador's Bitcoin Strategy

26:49 The Bitcoin Revolution: A Decade in the Making

31:25 Sovereign FOMO and Geopolitical Implications

 33:41 Bitcoin's Impact on Personal Wealth

36:24 Investing in Rare and Scarce Assets

40:03 Technological Revolutions and Investment Opportunities

 43:04 Gold vs. Bitcoin: Competing for the Hedge

49:18 Conclusion and Future Outlook

https://www.youtube.com/watch?v=Byqi1VnWJv0

“Tidbits From TNT” Sunday Morning 11-17-2024

TNT:

Tishwash:  Al-Sudani approves 35 new service projects and begins implementing them within 10 days

Prime Minister Mohammed Shia Al-Sudani stressed today, Saturday, the importance of accuracy and specifications in service and engineering effort projects.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani chaired today, Saturday, the periodic meeting of the service and engineering effort team."

He added, "The meeting witnessed a review of the progress of the projects being implemented by the effort team, and the rates of achievement achieved in them.

Approval was also given to 35 new service projects that will be attached to the 2024 projects, and their implementation will begin within 10 days in Baghdad and a number of governorates."

During the meeting, Al-Sudani stressed the "necessity of completing the 2024 projects before the end of the year," noting that "these projects must be implemented according to high standard technical specifications, in order for the service to be provided to citizens in a qualitative and distinctive manner."link

Tishwash:  Al-Alaq reviews to the President of the Republic the Central Bank’s plans to develop the banking sector

President of the Republic, Abdul Latif Jamal Rashid, stressed today, Sunday, the necessity of developing a future strategy for financial policy during his meeting with the Governor of the Central Bank, Ali Mohsen Al-Alaq.

Rashid said in a statement by the presidency, which was reviewed by Al-Eqtisad News: “It is necessary to develop a future strategy for financial policy according to clear, transparent standards that contribute to developing the services provided to citizens and building a solid banking sector.”

During the meeting, plans were reviewed to reform and develop the government and private banking sector, and support the work of the Central Bank, to enhance financial stability and achieve economic development.

In turn, Al-Alaq reviewed the Central Bank’s plans and procedures aimed at developing the banking sector to play its role in facing economic challenges. link

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Tishwash:  For the first time in Iraq.. Efforts to establish an "Investment Association" to attract capital from 10 countries

The head of the Diyala Chamber of Commerce, Muhammad Al-Tamimi, revealed today, Saturday (November 16, 2024), efforts to establish an investment association to attract capital from ten countries to Iraq.

Al-Tamimi told Baghdad Today, "Over the past years, we have succeeded in developing important relationships with companies and businessmen in 10 countries, including regional and Arab countries in the Middle East, through participation in various economic meetings and conferences."

He added, "We have a movement to establish an investment association that works to attract capital from 10 countries to Iraq by stating the available licenses in 12 important sectors, especially industrial, agricultural, and housing."

He pointed out that "there are efforts to crystallize the first investment conference in Diyala, which will be followed by other conferences in order to create a greater partnership between investors and businessmen  link

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