Dinar Recaps 20 11/28/24 Dinar Recaps 20 11/28/24

“Tidbits From TNT” 11-28-2024

TNT:

Tishwash: Trade Bank of Iraq launches first experimental Visa card

The Trade Bank of Iraq announced, on Wednesday, the launch of the first experimental Visa card.

The bank's media advisor, Aqil Al-Shuwaili, said in a statement, which was reviewed by "Al-Eqtisad News", that "the Iraqi Trade Bank has begun launching the first experimental Visa card."

He pointed out that "this visa included features for use in the online shopping process as well as for use in purchases link

TNT:

Tishwash: Trade Bank of Iraq launches first experimental Visa card

The Trade Bank of Iraq announced, on Wednesday, the launch of the first experimental Visa card.

The bank's media advisor, Aqil Al-Shuwaili, said in a statement, which was reviewed by "Al-Eqtisad News", that "the Iraqi Trade Bank has begun launching the first experimental Visa card."

He pointed out that "this visa included features for use in the online shopping process as well as for use in purchases link

Tishwash: International Development Bank signs a memorandum of understanding with the Arab Tourism Organization

The International Development Bank announced, on Wednesday, the signing of a memorandum of understanding with the Arab Tourism Organization under the patronage of Prime Minister Mohammed Shia Al-Sudani.

The bank said in a statement, seen by Al-Eqtisad News, that "it continues its leadership in supporting sustainable development by signing a memorandum of understanding with the Arab Tourism Organization."

It added, "The memorandum was signed between Chairman of the Board of Directors Ziad Khalaf Abdul and Chairman of the Arab Tourism Organization Bandar bin Fahd Al-Fahid in the presence of the Iraqi Minister of Culture and Tourism and a number of officials, under the patronage of Prime Minister Mohammed Shia Al-Sudani."

The statement continued, "The cooperation includes supporting tourism investments in Iraq through an insurance policy, and qualifying tourism facilities to obtain the highest quality marks with the launch of the "Arab Tourist Card" project in partnership with the international company "Visa."

It continued, "The Arab Tourist Card will provide competitive advantages to Arab tourists, such as health insurance, while ensuring that they benefit from the advantages granted by the international company Visa for this type of card, such as special discounts at hotels, restaurants and other tourism establishments, and many competitive advantages."

He added, "This step represents a new start to enhance joint Arab action, support inter-Arab tourism, and attract investments to support the promising tourism sector by integrating the efforts of the Iraqi private sector with the plans the Iraqi government has to develop the tourism reality, making Iraq, which is rich in tourism, religious, archaeological, and natural components, a tourism destination for all the world's poles." link

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Tishwash: Lebanese Economy Minister: Our government is counting on Iraq for reconstruction

Lebanese Minister of Economy Amin Salam said that the Lebanese government is counting on Iraq's support in reconstruction.

According to Salam's statement, which was followed by "Ultra Iraq", "we are counting on Iraq's support and the Iraqi Prime Minister's initiative in reconstruction."

He said, "Iraq has not abandoned Lebanon, and we appreciate the Prime Minister's initiative in reconstruction, and we thank the Iraqi government and people for their efforts and continuous support for Lebanon."

Salam pointed out that "serious work has begun towards the second phase of saving Lebanon," indicating that "the American side is serious about a ceasefire to reach the stage of peace." link

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DINARRECAPS8 11/28/24 DINARRECAPS8 11/28/24

Iraq Economic News and Points to Ponder Thursday AM 11-28-24

Academics: Strengthening Relations With International Institutions Contributes To Supporting The Iraqi

Economy Economical 11/28/2024 Baghdad: the mainstay of the emirate Academics praised the steps of the government of Prime Minister Muhammad Shia al-Sudani to achieve financial reform, indicating that strengthening relations with international institutions contributes to supporting the Iraqi economy.

Iraq has recently succeeded in strengthening its relationship with international economic institutions and organizations, and has projected a positive image to the world with its ability to fulfill its international financial obligations, including the International Monetary Fund, and has been able to begin reform.

Academics: Strengthening Relations With International Institutions Contributes To Supporting The Iraqi

Last May, the Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, announced that Iraq had repaid all of the loans it obtained from the Fund, the total of which did not exceed 8 billion dollars. https://alsabaah.iq/106428-.html

Al-Alaq: Growth In Iraq Is In Line With The Global Trend Of Increasing Population

Local | - 11/27/2024 Mawazine News – Baghdad The United Nations Population Fund Advisor, Mahdi Al-Alaq, confirmed today, Wednesday, that the growth in Iraq is in line with the global trend of increasing population.

Al-Alaq explained in a statement to the official agency, followed by "Mawazine News", that "the initial results of the census reflect an annual population growth rate of 2.3%, a rate that classifies Iraq among countries with medium to high population growth."

He added, "These numbers are in line with the global trend of increasing population," noting that "the population of Iraq increased from 31 million people 15 years ago to 45 million people annually."

He pointed out that "the population census is in its final stages, as field teams are working to complete the collection of basic data in some areas, with a focus on addressing deficiencies and ensuring accuracy."

He also explained that "the work will continue until December 10, and that all detailed data will be collected within the next two weeks, as it includes accurate information on the demographic, social and economic characteristics of the population."

Al-Alaq stressed the importance of "this data in supporting sustainable development plans in Iraq, as it will help guide policies related to education, health, housing, and job opportunities, in line with the needs of the growing population." https://www.mawazin.net/Details.aspx?jimare=256971

Withdrawal Of The License Of The Oman Brokerage Company To Buy And Sell Foreign Currencies

November 27, 2024 diamonds: The Central Bank of Iraq decided to withdraw the license of the Amman Company to mediate in the buying and selling of foreign currencies.

For more , click here https://cbi.iq/static/uploads/up/file-173269795553645.pdf

https://cbi.iq/news/view/2721

~~~~~

[approximate and incomplete translation of https://cbi.iq/static/uploads/up/file-173269795553645.pdf ]

DATE: 2024/11/26 (Your counterpart in creation)

Ministry of Commerce / Companies Registration Department

M / Withdrawal of leave

Based on the decision of the Board of Directors of this bank No. (257) of 2024 taken in its session No. (1661) six hundred and sixty-one after one thousand held on 2024/11/19, we would like to inform you of the following:

It has been decided to withdraw the license of the Oman Company for brokerage in buying and selling foreign currencies and cancel the certificate of incorporation granted to it from the above-mentioned controls regulating the work of exchange companies and brokerage in buying and selling foreign currencies No. (1) of 2022 as amended. With appreciation. https://cbi.iq/news/view/2721

The Success Of The Economy Saves The Drowning Of Politics

Mahmoud Dagher: At a time when some governments of the rentier system insist on expanding analyzes and political approaches and various elements of ideology, there is a decline in interest in the economics and management of depleted oil resources towards diversification in other governments, to the point where the interests of the economy and the well-being of the population take precedence over others, and the criterion for success becomes clamor.

Industry, agriculture, technology, and the accompanying development of human resources, versus whispers of politics and ideology.

Such a conclusion is prompted by what Moody’s credit rating agency published regarding the new credit rating of the Saudi economy, which reached Aa3 with a stable outlook after eight years ago for this agency, it was A1 with a positive outlook for the future.

It means an improvement in the state’s credit capacity, including its entry into the bond markets and the acceptance of its proposals. Financing and with lower interest.

Rather, more importantly, Saudi banks and other financial institutions enjoy the advantage of the new classification after they could not market their financing except with the old classification because financial institutions cannot exceed the classification. State.

Iraq, for example, is classified as B-, and therefore the highest at which its banks can be classified is the same classification or lower.

It was noted a few months ago that the classification of the largest Iraqi bank, TBI, was downgraded.

The macroeconomic credit rating and its changes depend on numerous economic and financial criteria reflected in the levels of financial and economic performance, including the

level of public debt,

growth rates, and

improved private sector performance, as well as

non-oil revenues and the

performance of non-oil output.

The sum of these criteria leads to an improvement in the level of economic diversification of the rentier state under the classification.

Which is the most important conclusion from the new classification of Saudi Arabia compared to other economies.

The growth rates of non-oil production sectors have increased, expectedly, to 4-5%, in addition to the non-oil revenues reaching about 40% in total public revenues. In fact, Saudi Arabia’s non-oil exports grew by 22% for the month of September 2024, and such results lead to an increase in the share of The output of the private sector in Saudi GDP, which is expected for the latter to grow up to 4.7%.

The high rating of the Saudi economy is attributed to a long-term economic path of diversification transformation that is considered the mainstay of long-term growth, as well as the tangible approach to independence from the oil crises.

Providing economic interests towards higher prosperity is what leads to the easing of political and ideological tension, despite its presence in our region that floats on oil and the problems associated with it.

Yes, improving the performance of the economy is a way to save yourself from the drowning of politics.

views 257 Added 11/24/2024 - 7:36 PM https://economy-news.net/content.php?id=50185

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

DINARRECAPS8 11/28/24 DINARRECAPS8 11/28/24

Seeds of Wisdom RV and Economic Updates Thursday Morning 11-28-24

Good Morning Dinar Recaps,

ROBINHOOD CRYPTO EU EXPANDS OFFERINGS WITH CIRCLE USDC STABLECOIN

Robinhood Crypto EU adds USDC stablecoin, providing users access to regulated dollar-backed digital assets and expanding crypto offerings.

▪️Robinhood Crypto EU added Circle's USDC stablecoin, giving 24M registered accounts access to the dollar-backed asset

▪️Circle's CEO confirmed USDC’s inclusion on Robinhood EU, alongside EURC, benefiting from Europe’s clear crypto regulations.

Good Morning Dinar Recaps,

▪️Circle's CEO confirmed USDC’s inclusion on Robinhood EU, alongside EURC, benefiting from Europe’s clear crypto regulations.

▪️Robinhood EU supports 30+ digital assets.

Robinhood Crypto EU has expanded the options available on its platform, now including Circle’s USDC stablecoin to its European customers. The integration allows users to access a regulated digital asset that is dollar-based, expanding Robinhood’s product portfolio in the crypto space.

Robinhood Introduces USDC Stablecoin To European Users
According to a recent post on X, Robinhood Crypto EU has incorporated Circle’s USDC into its platform, enabling 24 million registered accounts to access the dollar-backed digital asset. This addition aligns with the trading platform’s strategy of offering users compliant options in the cryptocurrency space.

Circle’s CEO, Jeremy Allaire, acknowledged USDC coming on Robinhood stating that the platform could further boost the use of stablecoins in Europe. Beside USDC, Allaire emphasized on EURC, the euro stablecoin of Circle, as both assets operate within the framework of European regulations.

Circle’s CEO added,

“EURC is the largest Euro Stable, has grown fast this year, is taking advantage of clear and fair regulations in Europe (alongside USDC!) and is growing TX volume, onchain FX use, and more and more exchanges and wallets launching support.”

Crypto Services Across European Markets
Robinhood continues to broaden its cryptocurrency portfolio, offering support for over 30 digital assets. The platform provides the lowest-cost trading across European markets, further cementing its position as a leading crypto platform. The inclusion of USDC in its offerings demonstrates dedication to providing investors with a diverse range of options.

Recently, the trading platform added Dogwifhat (WIF), a Solana-based meme coin, to its list of supported cryptocurrencies. The listing triggered a surge in WIF price and trading volume, highlighting its influence on market trends within the crypto sector.

In parallel developments, Circle launched USDC stablecoin and Cross-Chain Transfer Protocol (CCTP) on the Aptos blockchain. This integration enables the native issuance of USDC on Aptos, improving its functionality within the network. It also enhances cross-chain interoperability and reduces dependence on bridged versions of the stablecoin.

The CCTP rollout facilitates seamless transfers between Aptos and other blockchains, such as Ethereum, Solana, and Base. The move complements Circle’s USDC strategy, further expanding its usability in decentralized finance.

@ Newshounds News™
Source: CoinGape

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METAMASK INTEGRATES VENMO TO ENHANCE FIAT-TO-CRYPTO ONRAMP OPTIONS

MetaMask added a fiat on-ramp feature through Venmo, allowing US users to buy crypto using the payment app, according to a Nov. 27 announcement.

Crypto-focused fintech Moonpay enabled the new payment method.

Venmo, a PayPal subsidiary, introduced crypto transfers for its customers in April 2023. The company has supported buying, holding, and selling crypto since 2021.

Although the MetaMask fiat-to-crypto option is available in roughly 200 countries, the Venmo partnership is only available for US users.

Efforts on payments
MetaMask first launched a fiat-to-crypto feature in April 2023 and has since added support for payment options via Apple Pay, debit and credit cards, PayPal, wire transfer, and ACH bank transactions.

Other MetaMask partners include Transak, Stripe, Sardine, and Banxa, among others.

The company recently launched the MetaMask Card in August in partnership with Mastercard and crypto service provider Crypto Life. The card is still in its pilot phase and is only available in Europe and the UK.

The debit card allows users to spend balances in USD Coin (USDC), Tether USD (USDT), and Wrapped Ethereum (WETH) at any vendor that accepts Mastercard. Additionally, the card is supported by Apple Pay and Google Pay.

@ Newshounds News™

Source: CryptoSlate

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🌱 WHAT IS THE BEST DICTIONARY | Youtube

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Source: Seeds of Wisdom Team RV Currency Facts

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Dinar Recaps 20 11/28/24 Dinar Recaps 20 11/28/24

MilitiaMan & Crew-Iraq Dinar News-Oil & Gas-Projects-Budget 2024 Investment

MilitiaMan & Crew-Iraq Dinar News-Oil & Gas-Projects-Budget 2024 Investment

11-27-2024

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

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

MilitiaMan & Crew-Iraq Dinar News-Oil & Gas-Projects-Budget 2024 Investment

11-27-2024

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=cOZhJO7LoSU

DINARRECAPS8 11/27/24 DINARRECAPS8 11/27/24

Seeds of Wisdom RV and Economic Updates Wednesday Evening 11-27-24

Good Evening Dinar Recaps,

TRUMP’S TEAM PICKS PAUL ATKINS FOR SEC CHAIR: REPORT

In the ongoing developments surrounding the rapidly evolving cryptocurrency landscape, Donald Trump’s team has reportedly consider a new Securities and Exchange Commission (SEC) chair to replace the current chair, Gary Gensler. According to the latest report, the Trump’s team has consider pro-crypto former commissioner Paul Atkins for the SEC chair position.

Trump’s Team Consider Paul Atkins to Replace Gary Gensler
Atkins is known for his crypto expertise and innovative stance in supporting this rapidly evolving landscape. Following his election as SEC chair, there is a strong possibility that he could actively back and promote U.S. crypto regulation while encouraging rapid growth in the sector.

Good Evening Dinar Recaps,

Recently, Eleanor Terrett, a journalist at Fox Bussiness, noted on X (formerly Twitter),

“Atkins is someone who is not only crypto-savvy but possesses a deep understanding of the inner workings of the agency as both a former commissioner and staffer under two prior SEC Chairs — Richard C.”

Terrett further added that Atkins is seen as being capable of establishing a pro-innovation agenda while returning the agency to the so-called “gold standard” many in the Republican Party feel was lost under outgoing chair Gary Gensler.

Current Market Outlook
Following this much-awaited update, the overall cryptocurrency market began turning green.

As of press time, top assets including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have registered gains of over 2.75%, 7.5%, and 6%, respectively, in the past 24 hours. Meanwhile, other major cryptocurrencies are experiencing similar upside momentum.

@ Newshounds News™

Source: CoinPedia

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TETHER DOESN’T LIKE MICAR SO DITCHES EURO STABLECOIN

Tether, the issuer of the world’s largest stablecoin, doesn’t like Europe’s MiCA regulations. Other stablecoin issuers are also not keen on the requirement to put a substantial proportion of reserves into bank accounts, as required by MiCAR. But they nonetheless comply. Tether isn’t willing to do so, and today it confirmed it is shutting down EURT, its Euro stablecoin. Users have a year to redeem the coin.

EURT has a market capitalization of €26 million compared to Tether’s USD stablecoin at $132 billion. To date Tether has operated offshore so it’s likely just not worth the work involved to become MiCAR compliant.

MiCAR requires 30% of reserves to be held in bank accounts, with 60% for larger stablecoins. Tether views this as risky compared to investing in Treasuries. Bank deposits also pay less than government bonds.

“Until a more risk-averse framework is in place — one that fosters innovation and offers the stability and protection our users deserve — we have chosen to prioritize other initiatives,” Tether said in a statement.

Tether is known for keeping most of its stablecoin reserves in high risk assets in the past. The company is also accident prone. Over time the quality has improved significantly, but over 15% of its reserves would be considered moderate to high risk.

Instead of becoming MiCAR compliant itself, Tether’s investment arm (with assets separate from the stablecoin) has invested in Quantoz, a company that plans to issue MiCAR compliant US dollar and euro stablecoins. Quantoz will also use Tether’s Hadron tokenization infrastructure.

What about USDT in Europe?
MiCAR came into force for stablecoins at the end of June, but much of the regulations only apply from year end, at which time enforcement actions become a possibility.

The regulations don’t just apply to Euro stablecoins, but other currencies as well. There are caps of €200 million in daily transactions for non euro coins. Given Tether’s USDT sometimes transacts around $100 billion in a day, one might think it would breach these limits.

However, the limits relate to everyday retail transactions. It excludes crypto transactions and all investment transactions and only applies where both the payer and the recipient are within the EU. We previously published a deeper dive into the limits.

Meanwhile, Paxos, the regulated stablecoin issuer has acquired a MiCAR compliant firm, Membrane Finance.

Newshounds News™

Source: Ledger Insights

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WHY ISO 20022 IS ABOUT TO REVOLUTIONIZE FEDWIRE PAYMENTS FOREVER | Youtube

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Good Evening Dinar Recaps,

Source: CoinPedia

~~~~~~~~~

Source: Ledger Insights

~~~~~~~~~

WHY ISO 20022 IS ABOUT TO REVOLUTIONIZE FEDWIRE PAYMENTS FOREVER | Youtube

@ Newshounds News™

Source: Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

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Follow the Roadmap

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DINARRECAPS8 11/27/24 DINARRECAPS8 11/27/24

Iraq Economic News and Points to Ponder Wednesday 11-27-24

Gold Prices Move Cautiously Ahead Of US Inflation Data

Wednesday 27 November 2024 08:24 | Economic Number of readings: 138 Baghdad / NINA / Gold prices fluctuated in a narrow range during Asian trading on Wednesday, amid a set of factors affecting investors, most notably anticipation of US inflation data, which will give indications about the potential extent of the Federal Reserve's (the US central bank) interest rate cut next month.

Spot gold settled at $2,635.56 per ounce by dawn on Wednesday, and basically moved within a narrow range of nine dollars during the session. Gold recorded its lowest level in more than a week yesterday, Tuesday.

Gold Prices Move Cautiously Ahead Of US Inflation Data

US gold futures rose 0.6 percent to $2,635.80.

As for other precious metals, spot silver fell 0.1 percent to $30.39 per ounce, platinum settled at $927.45, and palladium fell 0.4 percent to $973.50.

“There’s a geopolitical element to all of this, with some selling pressure coming from the ceasefire agreement between Israel and Lebanon,” said Kyle Rodda, a financial markets analyst at Capital.com.

The ceasefire between Israel and Hezbollah in Lebanon, brokered by the United States and France, went into effect at 0200 GMT on Wednesday.

Gold is considered a safe-haven investment in times of economic and geopolitical uncertainty, such as trade wars and other conflicts.

“Longer term, I think the trade war that (US President-elect Donald) Trump is going to start could be positive for gold because of the high debt burden and some abandonment of the dollar,” Rodda said.

Federal Reserve officials were divided over whether to cut interest rates again at their meeting earlier this month, but agreed to avoid offering too much guidance on the future direction of monetary policy.

Markets are currently pricing in a 63 percent chance of a 25 basis point rate cut in December, according to the CME Group’s FedWatch tool.

Traders will be closely watching the Core PCE, Jobless Claims and First GDP Revision data, due later today./End9 https://ninanews.com/Website/News/Details?key=1171363

Economist: Non-Oil Revenues To Achieve Significant Growth In 2024

Wednesday 27 November 2024 | Economic Number of readings: 204 Baghdad / NINA / Economic expert Manar Al-Obaidi, a member of the Political Economic Center, announced that the non-oil revenues of the Iraqi state grew during the first nine months of 2024 by 198% to reach the 12.3% barrier of its contribution to the total revenues of the Iraqi state.

Al-Obaidi said in a statement that the total non-oil revenues of the Iraqi state during this period amounted to 14 trillion Iraqi dinars, up from the same period in 2023, which was about 4.7 trillion dinars. Despite the decrease in the value of revenues resulting from taxes on income and wealth by 17%, the increase in commodity taxes by 275% and the increase in the budget's share of public sector profits by 243% contributed to this significant increase.

He explained that for the first time since 2003, non-oil revenues constituted 12% of total revenues and the contribution of oil revenues decreased to reach 88% of total revenues.

He added that the total revenues until September 2024 amounted to 114 trillion Iraqi dinars, an increase of 19% compared to the same period in 2023, which amounted to 95.85 trillion Iraqi dinars.

The improvement in non-oil revenues is due to the reforms made in the tax and customs file, in addition to encouraging profitable public companies to increase their contribution to government revenues. It is expected that non-oil revenues in 2024 will reach the barrier of 18 trillion Iraqi dinars. Despite the increase in this number, it is still far from the planned number in the budget, which amounts to about 28 trillion Iraqi dinars. However, this improvement in these revenues reflects the success of the reforms made in the field of collection and work to increase payment through electronic outlets. / End 9

https://ninanews.com/Website/News/Details?key=1171400

Oil Prices Stabilize Amid Anticipation Of Calm In The Middle East

Time: 2024/11/27 17:52:24 Reading: 546 times {Economic: Al Furat News} Oil prices witnessed stability during trading on Wednesday, as markets assessed the potential impact of the ceasefire agreement between the Zionist entity and the Lebanese Hezbollah.

Markets are also awaiting the OPEC+ meeting next Sunday, in which the producer alliance is expected to decide to postpone the start of the previously agreed production increase.

Price movements

By 1300 GMT, Brent crude futures were up 33 cents, or 0.45 percent, at $73.49 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were up 37 cents, or 0.54 percent, at $69.14.

Both benchmarks settled lower on Tuesday after Israel agreed to a ceasefire with Hezbollah. The ceasefire agreement, brokered by the United States and France, came into effect on Wednesday. LINK

Parliamentary Oil: Amending A Paragraph In The Budget Enhances Oil Exports And Understanding With Kurdistan

Time: 2024/11/27 Reading: 936 times {Economic: Al Furat News} The Parliamentary Oil and Gas Committee confirmed, today, Wednesday, that amending the paragraph on paying the costs of extracting the Kurdistan Region’s oil and handing it over to “SOMO” opens the way for expanding exports and improving coordination between the region and the center.

Member of the Parliamentary Oil and Gas Committee, Kazem Al-Tawki, told Al-Furat News Agency that “Iraq is committed to the OPEC system in determining the quantities of oil production, noting that production sometimes falls below the specified ceiling.”

He added: "The recent agreement with the Kurdistan Region included amending a paragraph in the budget related to paying the financial costs of extracting oil and delivering it to SOMO, which opens the way for expanding exports or directing the region's oil to refineries."

He stressed the importance of this understanding between the region, the center and the Ministry of Oil to achieve better coordination in the management of oil resources. LINK

In Numbers.. Significant Growth In Non-Oil Revenues In Iraq During 2024

Time: 2024/11/27 Read: 1,872 times {Economic: Al Furat News} Iraq's non-oil revenues achieved significant growth during the first nine months of 2024, recording a 198% increase compared to last year, to reach a contribution of 12.3% of the state's total revenues

Economic expert, Manar Al-Obaidi, said in a statement received by {Al-Furat News}, "According to official data, total non-oil revenues during this period amounted to 14 trillion Iraqi dinars, compared to 4.7 trillion dinars during the same period in 2023."

He added: "Despite the 17% decrease in income and wealth tax revenues, commodity taxes increased by 275%, in addition to the increase in public sector profits contributing to the budget by 243%."

He continued: "For the first time since 2003, non-oil revenues constituted 12% of total Iraqi revenues. Total state revenues until September 2024 amounted to about 114 trillion Iraqi dinars, an increase of 19% compared to last year."

Non-oil revenues are expected to reach 18 trillion dinars by the end of the year, a figure that is considered high but less than the budget target of 28 trillion dinars. LINK

What Is Iraq's Connection? Goldman Sachs: OPEC+ Cuts May Support Oil In The Short Term

Energy Economy News - Follow-up Crude oil production in Iraq, Kazakhstan and Russia has fallen in compliance with OPEC+ production cuts, supporting some upside for Brent prices in the near term, according to a recent note from Goldman Sachs.

The investment bank added in its note issued yesterday, Tuesday, that Saudi Arabia is likely to extend oil production cuts due to the recent decline in prices, and that it now believes that oil production cuts will continue until April 2025 instead of January.

Goldman Sachs maintained its forecast for the average price of Brent crude for 2025 at $76 per barrel.

Two OPEC+ sources told Reuters that the group, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, is discussing another delay to the oil production increase that was scheduled to start in January.

At the group's most recent meeting on November 3, OPEC+ agreed to postpone a production increase scheduled for December for a month.

The bank said that "any increase in OPEC+ production will be gradual and data-dependent."

Goldman Sachs added that the high level of compliance with OPEC+ production cuts indicates that the group's member states are working together to stabilize oil prices.

He said that the production of Iraq, Kazakhstan and Russia decreased by 0.5 million barrels per day in November.

OPEC members are unlikely to backtrack on voluntary production cuts in the near term, executives from global commodity trading giants Vitol, Trafigura and Gunvor told the Energy Intelligence Forum in London.

But despite OPEC+ production cuts and delays to boost output, Brent crude futures have mostly remained in a $70-$80 range this year, trading below $74 on Tuesday.

Goldman Sachs last week revised its forecast for Brent prices to an average of $80 per barrel this year, despite a supply deficit and geopolitical uncertainty in 2024, pointing to an expected surplus in 2025.

98 views Added 11/27/2024 - 11:24 AM https://economy-news.net/content.php?id=50280

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

Dinar Recaps 20 11/27/24 Dinar Recaps 20 11/27/24

Tavi Costa: Gold Bull for Treasury Secretary

Gold Bull for Treasury Secretary

Liberty and Finance: 11-26-2024

In a recent appearance on Liberty and Finance, investment strategist Tavi Costa delivered insight into the potential implications of Scott Bessent’s appointment as Treasury Secretary under Donald Trump.

While initial reactions from the markets have been mixed, with skepticism surrounding Bessent’s credentials and his bullish stance on gold, Costa argues the negative sentiment may misinterpret the broader macroeconomic shifts that could unfold from this pivotal appointment.

Gold Bull for Treasury Secretary

Liberty and Finance: 11-26-2024

Scott Bessent is no stranger to the financial world, having built a reputation through his previous role as Chief Investment Officer for George Soros. His track record shows a keen understanding of global economic dynamics, which Costa views as a considerable asset during a time of uncertainty.

While the markets reacted cautiously to the news of Bessent’s pick, with some market commentators expressing doubt about his market strategies, Costa believes that this skepticism may overlook the strategic implications Bessent’s policies could have on the gold market and the U.S. economy at large.

Bessent’s recent bullish position on gold positions it as his largest investment, which Costa sees as a significant statement amidst growing economic concerns.

In recent years, gold has often been perceived as a safe haven, particularly in times of financial instability and inflationary pressures. Costa contends that Bessent’s bullish outlook could potentially lead to a reevaluation of gold’s role in both investment portfolios and broader monetary policies.

Investors currently overlooking Bessent’s stance may find themselves unprepared for a substantial shift in market sentiment, especially if Bessent were to implement strategies that might encourage further investment in gold.

Beyond gold, Costa underscores the potential for Bessent’s policies to catalyze a realignment of the global monetary system.

In the backdrop of rising debt levels and unprecedented monetary easing, Bessent’s approach could spell a reassessment of the U.S. dollar’s position as the world’s reserve currency. Costa highlights concerns regarding U.S. dollar devaluation, an eventuality that could arise from continued fiscal and monetary expansion. Bessent’s policy maneuvers, especially if pursued aggressively, could contribute to a significant shift in how the dollar is perceived globally.

Moreover, Costa emphasizes that Bessent’s appointment coincides with a notable shift in the geopolitical landscape. As nations like China and Russia work towards alternatives to the U.S. dollar, Bessent’s leadership could either facilitate the U.S.’s response to these challenges or inadvertently accelerate the decline of dollar supremacy.

His policies may not only affect the U.S. economy but also influence global trade dynamics, prompting countries to reevaluate their currency dependencies.

In conclusion, while the market’s initial skepticism surrounding Scott Bessent’s appointment as Treasury Secretary warrants consideration, Tavi Costa’s analysis presents a compelling case for a more nuanced understanding of its implications.

Bessent’s bullish sentiment toward gold, combined with the potential for a reconfiguration of fiscal and monetary policies, suggests a transformative time ahead.

As stakeholders continue to monitor developments, Costa’s insights remind us that the true impact of Bessent’s stewardship may be far-reaching, extending well beyond the confines of the treasury and into the future of global finance.

https://youtu.be/Y9hnKMEfWfM

Dinar Recaps 20 11/27/24 Dinar Recaps 20 11/27/24

“Tidbits From TNT” Wednesday 11-27-2024

TNT:

Tishwash: Iraq is the fourth largest Arab country and the 51st largest in the world in the list of the world's largest economies

Iraq ranked 51st globally and fourth in the Arab world on the list of the world's largest economies for the year 2025, according to a report issued by the American magazine "CEOWORLD".

The magazine stated in its report, which Shafaq News Agency reviewed, that the United States will top the list of global economies in 2025 with a gross domestic product of $30.33 trillion, followed by China with $19.53 trillion, Germany with $4.92 trillion, Japan with $4.39 trillion, and then India with $4.27 trillion.

She explained that these countries will lead the impact on the global economy due to their weight in international trade and wealth.

TNT:

Tishwash: Iraq is the fourth largest Arab country and the 51st largest in the world in the list of the world's largest economies

Iraq ranked 51st globally and fourth in the Arab world on the list of the world's largest economies for the year 2025, according to a report issued by the American magazine "CEOWORLD".

She explained that these countries will lead the impact on the global economy due to their weight in international trade and wealth.

The report added that the top ten will also include countries such as the United Kingdom, France, Italy, Canada, and Brazil, showing a balance between developed and emerging markets.

On the Arab level, the report indicated that Iraq came fourth in the Arab world, with a gross domestic product of $270.87 billion, after Saudi Arabia, the Emirates, and Egypt, while Algeria, Qatar, Morocco, and Kuwait came after it.

At the end of the world ranking, Tuvalu came in last place (196) with a GDP of $79 million, preceded by Nauru with $179 million.'link

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Tishwash: Al-Sudani Meets the Ambassador of Kuwait to Iraq

Media Office of the Prime Minister said in a statement obtained by the Iraqi News Agency INA that Prime Minister Mohammed S. Al-Sudani met today, Wednesday, the Ambassador of the State of Kuwait to Iraq, Mr. Tariq Abdullah Al-Faraj, on the occasion of the conclusion of his tenure.

The statement read "The Prime Minister expressed his appreciation for the ambassador’s efforts during his time in Iraq, emphasizing the importance of bilateral relations between the two countries. He reiterated the government’s commitment to strengthening cooperation in economic, investment, and other developmental sectors."

It further said "The meeting also underscored the need for joint committees to continue their work and discussions on various issues and files requiring ongoing dialogue and mutual understanding to safeguard the interests of both brotherly nations and promote partnership and solidarity." link

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Tishwash: Al-Sudani leaves Baghdad heading to Spain on an official visit

Prime Minister Mohammed Shia Al-Sudani left the capital, Baghdad, today, Wednesday, heading to Spain on an official visit .

The Prime Minister's media office stated in a brief statement received by "Mil" that "Prime Minister Mohammed Shia al-Sudani left the capital, Baghdad, today, heading to Spain on an official visit." link

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Iraq signs contract with Italian consulting firm on first phase of development road

The Ministry of Transport announced today, Wednesday, the signing of a consulting contract with BTP Company, to provide consulting services regarding the first phase of the Development Road Project (regarding the current railways).

A statement by the Ministry's media office stated that the consulting services contract for the first phase of the development road project was signed between the Iraqi General Railways Company and the Italian company BTP.

The statement added that the first phase of the project includes preparing a technical and economic feasibility study and design work to rehabilitate, modernize and develop the current national railway network.

The statement indicated that this vital project is funded by the investment plan for 2024 and according to the directives of the Council of Ministers, to be a strategic line ready for the safe transport of incoming cargo via railway lines, from the Grand Faw Port, which the ministry intends to operate in its first phase during the coming year.

It is noteworthy that Prime Minister Mohammed Shia Al-Sudani recently chaired a meeting with a delegation from the consulting company for the Development Road Project, to discuss the economic model for the project, in the presence of the Minister of Transport, Mr. Razzaq Muhaibis Al-Saadawi.

During the past two days, the excavation and connection works of the immersed tunnel manufacturing basin with the Khor Al Zubair Canal were completed, in preparation for floating the ten concrete pieces that make up the tunnel in the navigation canal.

The completion of the road linking Faw Port to Safwan City via the immersed tunnel will soon begin, then it will enter through two bridges, as the completion rate of the first bridge has reached 98%, and the second 96%. While the completion rate of the quay structures for the container terminal has reached 100%, and the road linking Faw and Umm Qasr ports 92.43%, with increasing completion rates in the immersed tunnel, and the completion rate in the first phase of marine excavation and backfilling works has reached 79.33%. As for the navigation channel of the Grand Faw Port, the completion rate has reached 77.41%, and the completion rate in the port components is 81%, and in the container yard 88% link

Mot: . Ya Ready -- Heres how to cook a turkey

Mot: ""Earl"" Always Aiming to Please he is!

DINARRECAPS8 11/27/24 DINARRECAPS8 11/27/24

Iraq News Highlights and Points to Ponder Wednesday AM 11-27-24

Will Iraq Take The Adventure Of Joining BRICS Despite American Risks?

November 27, 2024 Baghdad/Al-Masala: At a time when the US dollar has become more than just a currency, but has become an economic weapon and part of the political hegemony system, voices calling for finding new financial alternatives are increasing.

These calls are gaining momentum in light of the sanctions imposed by the United States on countries that stand against its policies, such as Russia and China.

Will Iraq Take The Adventure Of Joining BRICS Despite American Risks?

These calls are gaining momentum in light of the sanctions imposed by the United States on countries that stand against its policies, such as Russia and China.

According to an economic analysis published by a specialized website, this intensive use of the dollar as a pressure tool has prompted the Eastern bloc to intensify its efforts to develop a new global currency that could reshape the economic map.

On the ground, this movement began under the leadership of the BRICS group, which includes Russia, China, India, Brazil, and South Africa.

“The BRICS single currency is not a dream, it is a realistic response to US financial hegemony,” reads a tweet posted by economic accounts. “Cooperation between these countries goes beyond economics to become a strategic political step,” it added. This cooperation comes at a time when relations between the group’s countries are developing rapidly, with China and Russia working together to create a financial force that could weaken the influence of the dollar.

On the other hand, Iraq finds itself in a complicated situation. Although the country has not officially requested to join BRICS, even considering such a move could be fraught with risk.

Informed sources confirmed that Iraq is not prepared to bear an American strike, especially in light of its complex economic relations with the United States.

A tweet by an Iraqi citizen named “Noor Al-Azzawi” expressed this concern by saying: “We are stuck between a rock and a hard place. America will not tolerate any step that might weaken its influence here.”

The statements of the Russian Ambassador to Iraq, Elbrus Kotrashev, came to open a window of hope for Baghdad, as he said: “BRICS is not an alliance against anyone, it is an open group that welcomes everyone.” He stressed that the group does not have hostile intentions, but rather aims to achieve a global economic balance.

As BRICS countries formulate their plans, significant technical challenges arise in unifying payment and currency settlement systems among member states.

An economic analyst named Ahmed Al-Harthi wrote in a Facebook post: “The success of the BRICS currency depends on two main factors: the first is the ability to build a common financial system, and the second is ensuring global acceptance of the new currency.” He considered that the step is not easy, but it is necessary.

The coming years are likely to witness pivotal moves. According to recent reports, China and Russia are closely coordinating with Iran and North Korea to build a financial alliance of countries that see the current financial system as serving Washington’s interests at the expense of the rest of the world. These efforts could be met with greater political pressure and economic sanctions from the United States, making the economic conflict even more complex. https://almasalah.com/archives/106598

The National Union Explains The Reasons For Not Legislating The Oil And Gas Law

Information/Baghdad... Member of the Patriotic Union of Kurdistan, Ghiath Al-Surji, explained the reasons for not legislating the oil and gas law, noting that there is no longer a need to legislate such a law, especially after the issuance of judicial decisions regarding the oil and exports file.

Al-Surji told Al-Maalouma, "The region was waiting for the enactment of the oil and gas law to resolve all the problems related to this wealth between Baghdad and Erbil, but today the situation is different after the issuance of a judicial decision by the Paris Court to stop the export of oil from Kurdistan to Türkiye."

He added, "The international judicial decision, in addition to the Federal Court decision, stipulated that the oil would be owned by everyone, meaning that the authority over this wealth would be in the hands of the federal government in Baghdad."

He explained that "the judicial decision two years ago obliged the region not to export oil to Turkey and made the authority over it under the supervision of Baghdad, so the issue of oil and gas and the legislation of the law related to it will be unnecessary, especially since the judicial decision made the oil revenues under the authority and supervision of Baghdad." LINK

Parliamentary Finance: Amending The Budget Law Will Allow For Changing Useless Paragraphs And Item

Information / Baghdad.. The Parliamentary Finance Committee confirmed, on Wednesday, that any change to the paragraphs of the federal budget will allow for the change of paragraphs and items that have been proven to be ineffective.

Committee member MP Hussein Mounes said in a statement to Al-Maalouma Agency, "Submitting the first reading of the draft law amending the federal budget that was approved for three years (23, 24 and 25) will allow for changing paragraphs and items that have proven to be ineffective."

He added, "The amendment needs a deeper study because that will push us to change the schedules, and thus we will be faced with an increase in the deficit on the one hand and a decrease on the other."

It is noteworthy that the agenda of the House of Representatives included a paragraph discussing the first reading of the draft first amendment to the federal budget for fiscal years 23, 24 and 25, submitted by the Parliamentary Finance Committee. LINK

What Is Iraq's Connection? Goldman Sachs: OPEC+ Cuts May Support Oil In The Short Term

Energy Economy News - Follow-up [rtl]Crude oil production in Iraq, Kazakhstan and Russia has fallen in compliance with OPEC+ production cuts, supporting some upside for Brent prices in the near term, according to a recent note from Goldman Sachs.

Goldman Sachs maintained its forecast for the average price of Brent crude for 2025 at $76 per barrel.

At the group's most recent meeting on November 3, OPEC+ agreed to postpone a production increase scheduled for December for a month.

he bank said that "any increase in OPEC+ production will be gradual and data-dependent."

Goldman Sachs added that the high level of compliance with OPEC+ production cuts indicates that the group's member states are working together to stabilize oil prices.

He said that the production of Iraq, Kazakhstan and Russia decreased by 0.5 million barrels per day in November.

But despite OPEC+ production cuts and delays to boost output, Brent crude futures have mostly remained in a $70-$80 range this year, trading below $74 on Tuesday.

]Goldman Sachs last week revised its forecast for Brent prices to an average of $80 per barrel this year, despite a supply deficit and geopolitical uncertainty in 2024, pointing to an expected surplus in 2025. https://economy-news.net/content.php?id=50280

Iraqi Oil Falls Again On Third Day Of Trading

Economy |Today Baghdad Today - Follow-up Iraqi oil prices fell on Wednesday (November 27, 2024), after two days of rising during the third trading day of weekly transactions in global markets .

According to data reviewed by Baghdad Today, Basra Heavy crude recorded $68.5 per barrel, while the average recorded $71.20 per barrel, with a change rate of -1.33 for both January 2025 delivery .

The data also showed a significant decline in global crude prices, with British Brent crude recording $72.91, while US West Texas Intermediate crude recorded $68.84 per barrel, with a change rate of -0.10 and -0.07, respectively . LINK

Economist: Non-Oil Revenues To Achieve Significant Growth In 2024

Wednesday 27 November 2024 | Economic Number of readings: 141 Baghdad / NINA / Economic expert Manar Al-Obaidi, a member of the Political Economic Center, announced that the non-oil revenues of the Iraqi state grew during the first nine months of 2024 by 198% to reach the 12.3% barrier of its contribution to the total revenues of the Iraqi state.

Despite the decrease in the value of revenues resulting from taxes on income and wealth by 17%, the increase in commodity taxes by 275% and the increase in the budget's share of public sector profits by 243% contributed to this significant increase.

He explained that for the first time since 2003, non-oil revenues constituted 12% of total revenues and the contribution of oil revenues decreased to reach 88% of total revenues.

He added that the total revenues until September 2024 amounted to 114 trillion Iraqi dinars, an increase of 19% compared to the same period in 2023, which amounted to 95.85 trillion Iraqi dinars.

it is still far from the planned number in the budget, which amounts to about 28 trillion Iraqi dinars. However, this improvement in these revenues reflects the success of the reforms made in the field of collection and work to increase payment through electronic outlets. / End 9 https://ninanews.com/Website/News/Details?key=1171400

DINARRECAPS8 11/27/24 DINARRECAPS8 11/27/24

Seeds of Wisdom RV and Economic Updates Wednesday Morning 11-27-24

Good Morning Dinar Recaps,

TRUMP EYES HANDING CFTC OVERSIGHT OF CRYPTO: REPORT

Donald Trump's team is considering handing the regulation of crypto exchanges and spot markets for cryptocurrencies deemed commodities to the CFTC.

Donald Trump’s incoming administration reportedly wants the US Commodity Futures Trading Commission to oversee the crypto industry — a move that could drastically roll back some of the regulatory power from the Securities and Exchange Commission.

Good Morning Dinar Recaps,

The role could see the CFTC take on the regulation of spot markets for digital assets deemed commodities and crypto exchanges, Fox Business reported on Nov. 26, citing sources familiar with the matter.

United States President-elect Trump’s team says the SEC’s enforcement actions against industry players have slowed crypto innovation in the US and that a less stringent approach is needed to facilitate growth, Fox reported.

If the CFTC is handed regulatory control of crypto, it would be a big win for the industry, which has long signaled the agency would be its preferred regulator as it’s perceived to be fairer and has a lighter touch.

“With adequate funding and under the right leadership, I think the CFTC could hit the ground running to begin regulating digital commodities on day one of Donald Trump’s presidency,” former CFTC chair Chris Giancarlo told Fox.

Giancarlo tried to convince the Senate Agriculture Committee — which oversees the CFTC — to support the CFTC’s oversight of the spot crypto market by noting that the regulator had called Bitcoin a commodity in 2015.

The CFTC approved Bitcoin options under Giancarlo’s leadership in December 2017.

Current CFTC Chair Rostin Behnam, who shares mostly moderate views on crypto, asked the Senate Agriculture Committee for extra funding to regulate crypto markets more effectively.

The CFTC’s $706 million operating budget to police fraud and market manipulation is more than four times smaller than the SEC’s $3 billion for the 2024 financial year.

The commodities regulator employs only about 700 staff compared to the SEC’s 5,300.

Around 50% of the CFTC’s enforcement actions have been brought against crypto businesses in 2024 — which Behnam has called a “staggering statistic” for an agency that isn’t mandated to regulate the industry.

Some of this enforcement action has come against crypto companies that are not even US-based.

Meanwhile, the SEC’s leadership is set to change, with Chair Gary Gensler confirming last week that he will resign on Jan. 20, 2025, when Trump is inaugurated.

SEC Commissioner Jaime Lizárraga will also step down from his position on Jan. 17, motivated by a desire to spend more time with his wife, who is reportedly battling cancer.

@ Newshounds News™

Source: CoinTelegraph

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🇲🇦 MOROCCO’S CENTRAL BANK DRAFTS CRYPTO LAW

The Bank Al Maghrib has drafted a law to regulate crypto assets, currently under review for adoption. Governor Jouahri also revealed that the bank is studying the potential of a central bank digital currency (CBDC) to meet financial policy goals.

@ Newshounds News™

Source: Crypto Insider

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BRAZIL CONGRESSMAN PROPOSES CREATING A NATIONAL BITCOIN RESERVE

A congressman from Brazil has officially proposed a bill to establish a strategic Bitcoin reserve in the country: the Bitcoin Sovereign Strategic Reserve. The Reserva Estratégica Soberana de Bitcoins (RESBit) aims to diversify the country’s Treasury. According to Portal do Bitcoin, a Brazilian media platform, Congressman Eros Biondini filed the proposal on Monday.

“The creation of RESBit is a strategic measure that positions Brazil as a leader in the new digital economy, reducing economic risks and expanding opportunities for technological and financial development,” wrote Biondini in the justification for the bill. “The approval of this project is essential to guarantee the country’s economic sovereignty and align Brazil with global innovation trends.”

As presented, the bill stipulates planned and gradual acquisitions of Bitcoin, up to 5% of Brazil’s national reserves. Biondini’s proposal would also make the Central Bank of Brazil responsible for the acquisition and management of the RESBit.

Brazil’s cryptocurrency market now stands as the 10th largest in the world, according to Chainanalysis data. Brazil has seen a rise in crypto exports over the last two months, likely contributing to the pitch of a new Bitcoin reserve.

The king cryptocurrency by market cap has surged to new all-time highs over the last month following the US election. Additionally, the country has seen an influx of stablecoin usage within the country. The US dollar-pegged digital asset accounted for almost 70% of all crypto-related transactions.

Multiple countries and governments around the world have turned the tide on crypto regulation. Nations are opting to involve the growing industry in everyday finance. Brazil as a BRICS member has been forward in involving crypto within the bloc, especially Bitcoin and Ripple (XRP).

Central banks and corporate interest in Bitcoin and blockchain technology continue to rise worldwide. While there is some opposition, as seen in Europe as an example, it is clear that most are in favor of establishing crypto reserves. The US is even seeking a similar program under incoming president Donald Trump.

@ Newshounds News™

Source: Watcher Guru

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@ Newshounds News™

Source: Seeds of Wisdom Team RV Currency Facts

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