Iraq Economic News and Points To Ponder Monday Morning 7-28-25

Billions In Fines... Has The Central Bank Launched A Bank Purge?
 
July 27, 2025 Last updated: July 27, 2025  Al-Mustaqilla/- In a move that has raised many questions within banking circles, the Central Bank of Iraq has begun implementing financial sanctions on a number of private banks and exchange companies.
 
This is part of a campaign aimed at correcting the course of the banking sector, which is facing increasing criticism regarding    poor compliance and  exchange rate manipulation.

According to a schedule published yesterday afternoon,  the value of fines imposed on  banks and  exchange companies  amounted to more than 24 billion Iraqi dinars  uring the second quarter of this year.

This figure reflects the extent of accumulated violations in the local banking market,which observers believe  pose a direct threat to the   stability of the currency and the  policies of the Central Bank. An informed source revealed to Al-Mustaqilla that these sanctions come within the context of a broader movement that  began to take shape  following a recent meeting in Istanbul between a  delegation from the Central Bank of Iraq and  a US Federal Reserve official.

The move comes after the "Istanbul meeting.”
 
The meeting, according to leaks, witnessed a heated discussion about Iraq's commitment to international standards for combating money laundering and  terrorist financing, with threats of new sanctions that could affect the Iraqi banking sector  unless urgent reform measures are taken.

 Will Iraq witness the withdrawal of bank holidays soon?  

Economic sources indicate that the recent sanctions may be a preliminary  step toward revoking the licenses of some banks and exchange companies  that have failed to comply with regulations and instructions, particularly those involved in  dollar smuggling or  manipulation of exchange rates on the parallel market.
 
Observers expect the coming days to witness a broad audit campaign led by the Central Bank,  in coordination with regulatory and security agencies, to control banking performance and  address the chaos that has contributed to market turmoil and   undermined public confidence.
 
Message to banks: comply or exit the market  
 
The Central Bank's latest move could be a clear message to financial institutions: "Commitment first," as the Iraqi government seeks to  assert state sovereignty over the financial sector and  distance itself  from  political pressures and  vested interests  that have hindered sector reform for years. Experts believe that the success of these measures depends on  serious implementation, and not just financial fines, but also holding those responsible for violations acountable and  withdrawing banking privileges from the parties involved.    https://mustaqila.com/غرامات-بالمليارات-هل-بدأ-البنك-المركز/    

Trump & Crypto: Will Bitcoin's Success Translate to the Iraqi Dinar?

19th July 2025 in Investment, Iraq Banking & Finance News  By Guest Blogger. https://www.iraq-businessnews.com/custom-search/?searchtext=%22guest+blogger%22&swcfpc=1

Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Trump's Policies and Cryptocurrency: Will Bitcoin's Success Translate to the Iraqi Dinar?
 
The relationship between political leadership and financial markets has rarely been as pronounced as it is today with cryptocurrency.
 
Since Donald Trump's return to the presidency in January 2025, Bitcoin has experienced remarkable gains,
 
prompting investors to wonder whether this success might extend to other alternative investments like the Iraqi Dinar, where some people expect a significant dinar revaluation.
 
However, the fundamental differences between these assets reveal why Bitcoin's trajectory under Trump's administration is unlikely to be replicated by the Iraqi Dinar.
 
Bitcoin's Meteoric Rise Under Trump's Pro-Crypto Policies 
 
Bitcoin has demonstrated extraordinary performance since Trump's re-election, with the cryptocurrency surging approximately 60% since November 2024 and reaching heights of $111,000.
 
This dramatic increase can be attributed to several specific policy initiatives and strategic decisions by the Trump administration.
 
The foundation of Bitcoin's success lies in Trump's complete reversal from his previous skeptical stance toward cryptocurrency.
 
During his campaign, Trump promised to make America "the crypto capital of the planet," and
his administration has delivered on this promise through concrete legislative and regulatory actions.
 
In March 2025, Trump signed an executive order establishing a Strategic Bitcoin Reserve and  U.S. Digital Asset Stockpile,  signaling the federal government's commitment to cryptocurrency adoption.
 
The administration's approach has been systematically supportive of the cryptocurrency industry.
 
Congress recently passed the first major crypto legislation in U.S. history, providing regulatory clarity that has been long sought by the industry.
 

This regulatory framework has reduced uncertainty and encouraged institutional investment,
contributing to Bitcoin's price appreciation.
 
Trump's appointees reflect this pro-crypto stance, with one in five top administration picks holding cryptocurrency assets,  some worth millions of dollars.
 
This alignment between policy and personal investment demonstrates the
administration's genuine commitment to cryptocurrency adoption rather than mere political rhetoric.
 
The Iraqi Dinar: A Fundamentally Different Asset
 
The Iraqi Dinar operates in an entirely different economic and political ecosystem from Bitcoin.
 
While Bitcoin is a decentralized digital asset that responds to global market forces and regulatory changes, the Iraqi Dinar is a sovereign currency tied to Iraq's economic fundamentals and monetary policy decisions.
 
Current exchange rate data shows the Iraqi Dinar trading at approximately 1,310 dinars per U.S. dollar as of July 2025,
representing minimal fluctuation over the past year.
 
The International Monetary Fund projects an average exchange rate  of 1,300 dinars per dollar
     for both 2025 and 2026, indicating expectations of stability rather than dramatic appreciation.
 
The Central Bank of Iraq has successfully transitioned to a new trade finance system managed by commercial banks, which has contributed to exchange rate stability.
 
However, this stability is precisely what differentiates the Dinar from Bitcoin 
- the Iraqi currency is managed to maintain purchasing power rather than to serve as a speculative investment vehicle.
 
Why Trump's Crypto Policies Won't Impact the Dinar
 
Several fundamental factors explain why Trump's cryptocurrency-friendly policies cannot replicate Bitcoin's success with the Iraqi Dinar:
 
    Regulatory Jurisdiction: Trump's policies directly impact assets under U.S. regulatory authority.
 
Bitcoin, as a global digital asset traded on U.S. exchanges and held by U.S. institutions, falls within this sphere of influence.

The Iraqi Dinar, however, is governed by Iraq's Central Bank and monetary policy, which operates independently of U.S. cryptocurrency regulations.
 
    Asset Classification: Bitcoin is treated as a digital commodity and investment vehicle, making it responsive to regulatory changes that affect investor sentiment and institutional adoption.
 
The Iraqi Dinar functions as a national currency with exchange rates determined by economic fundamentals such as oil revenues, trade balances, and monetary policy decisions.
 
    Market Dynamics: Bitcoin's price appreciation stems from  increased institutional adoption,
     regulatory clarity, and  speculative investment driven by Trump's supportive policies.
 
The Iraqi Dinar's value is tied to Iraq's  economic performance, oil exports, and regional stability 
-factors largely unrelated to U.S. cryptocurrency policy.
 
    Investment Infrastructure: The cryptocurrency ecosystem has developed  sophisticated trading platforms, custody solutions, and financial products that respond rapidly to policy changes.
 
The Iraqi Dinar lacks this infrastructure for speculative investment, with most transactions occurring through traditional foreign exchange channels focused on trade and remittances rather than investment.
 
Economic Realities and Market Projections
 
Financial forecasts for the Iraqi Dinar suggest continued stability rather than dramatic appreciation.
 
Market projections indicate potential slight depreciation,
with the exchange rate possibly reaching around 1,318 IQD per USD by the end of 2025.
 
These projections reflect expectations of gradual economic adjustments rather than the explosive growth seen in Bitcoin.
 
Iraq's economy remains heavily dependent on oil revenues,
which are calculated based on the exchange rate of 1,300 dinars to one dollar in the federal budget.
 
This dependency on  commodity prices and the government's fiscal management creates a fundamentally different value proposition from Bitcoin's technology-driven and adoption-based appreciation.
 

The Broader Investment Landscape
 
The contrast between Bitcoin and the Iraqi Dinar illustrates a broader principle about how different asset classes respond to political and regulatory changes.
 
Bitcoin's success under Trump's administration demonstrates the  power of regulatory clarity and institutional support for emerging asset classes.
 
The cryptocurrency's  decentralized nature and global trading infrastructuremake it particularly responsive to positive policy developments.
 
Traditional currencies, even those from developing economies, operate within established monetary systems designed for stability rather than speculation.
 
The Iraqi Dinar's role as a medium of exchange and store of value for Iraq's economy necessitates careful management to prevent the volatility that investors seek in alternative assets.
 
Conclusion
 
While Trump's pro-cryptocurrency policies have created a favorable environment for Bitcoin's remarkable performance, these same policies cannot produce similar results for the Iraqi Dinar.
 
The fundamental differences between a  decentralized digital asset and a  sovereign currency mean that
each responds to entirely different sets of economic and political factors.
 
Bitcoin's success under Trump's administration reflects the power of regulatory support and institutional adoption in driving speculative asset prices.
 
The Iraqi Dinar's stability reflects the careful monetary management required to maintain a functioning national currency.
 
Investors considering whether Trump's policies might benefit the Iraqi Dinar should recognize
that the two assets exist in fundamentally different economic ecosystems,
with success metrics that are not only different but often contradictory.
 
The lesson for investors is clear: while political leadership can significantly impact certain asset classes,
the specific characteristics of each investment determine how it responds to policy changes.

Bitcoin's  technological foundation and   speculative nature make it responsive to regulatory developments, while the Iraqi Dinar's role as a national currency  requires it to prioritize stability over explosive growth.    
https://www.iraq-businessnews.com/2025/07/19/trump-crypto-will-bitcoins-success-translate-to-the-iraqi-dinar/ 

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

Seeds of Wisdom RV and Economic Updates Monday Morning 7-28-25

Good Morning Dinar Recaps,

Trump Sets 15% Tariff Floor for EU Imports

As global trade dynamics shift under increasing geopolitical strain, President Donald Trump has drawn a hard red line in upcoming negotiations with the European Union. No EU exports will face tariffs lower than 15%, a move that could have significant ripple effects across strategic sectors including digital technology, pharmaceuticals, and blockchain infrastructure.

Key Points:

• Trump: “No customs duty below 15%” for EU exports to the U.S.

• Announcement comes ahead of high-stakes meeting with EU Commission President Ursula von der Leyen in Scotland.

• Pharmaceuticals explicitly excluded from upcoming trade agreement.

• August 1st set as the firm negotiation deadline for both sides.

Trump Signals End of Trade Flexibility

In a statement delivered on Sunday, July 27, Trump firmly rejected any preferential treatment for EU goods. Framing the decision as a matter of economic sovereignty, he described the upcoming deal as “very powerful, very large, the biggest of all agreements”—but only on U.S. terms.

“The EU will not benefit from customs duties below 15%,” Trump declared, in what many analysts interpret as an attempt to force the EU into a take-it-or-leave-it position.

The tariff proposal marks a decisive shift from past U.S. administrations’ more collaborative trade frameworks. Instead, it signals a transactional, pressure-based model that could realign transatlantic relations for years to come.

Highlights of Trump’s Trade Position:

• 15% Tariff Minimum: Applies broadly to EU goods, with no exemptions beyond pharmaceuticals.

• Exclusion of Pharmaceuticals: Medical products will not be covered under the proposed deal, hinting at separate bilateral arrangements.

• Non-Negotiable Deadline: The August 1st cutoff is binding and applies universally, further constraining EU leverage.

• Zero-Sum Diplomacy: Trump frames the deal not as cooperation, but as a contest of economic strength.

Strategic Implications for Europe’s Digital Future

While tariffs dominate headlines, Trump’s stance casts a longer shadow over the EU’s digital and blockchain sectors. His rhetoric suggests a broader effort to limit European access to the U.S. market—a move that could dramatically impact innovation, competitiveness, and cross-border tech partnerships.

Firms likely to be affected include:

• Ledger, a prominent crypto wallet provider;

• Sovereign cloud infrastructure companies, integral to EU data sovereignty;

• Blockchain firms involved in Web3, stablecoin issuance, and tokenized asset markets.

If enacted, the tariff floor could erode cost advantages for EU tech companies, placing them at a disadvantage to U.S. rivals protected by a highly favorable domestic environment. Meanwhile, transatlantic regulatory harmonization projects—from digital identity frameworks to stablecoin policy coordination—could stall under the weight of trade tensions.

Deal or No Deal? 50/50 Odds and Rising Pressure

Trump underscored the high stakes, noting there's only a “50-50 chance” of any trade agreement being reached. This calculated ambiguity, paired with the rigid August 1st deadline, forms part of a broader maximum-pressure negotiation playbook.

“The August 1st deadline is the same for everyone,” Trump warned—an assertion designed to minimize EU bargaining power and maximize U.S. leverage in the short window remaining.

With strategic sectors at risk, the EU must now choose between two difficult options: accept the Trump administration’s terms or face a potentially destabilizing trade standoff.

@ Newshounds News™
Source: CoinTribune

~~~~~~~~~

Key US Economic Events This Week: What They Mean for Bitcoin and Altcoins

With several major U.S. economic events lined up this week—including the FOMC policy meeting, Q2 GDP data, and the July jobs report—investors in Bitcoin and altcoins are closely watching for signals that could shift market sentiment.

Why It Matters for Crypto

The U.S. economy and digital asset markets are increasingly intertwined. While traditional markets showed modest growth last week (+1.21%), the crypto market declined by 1.66%, reflecting macro uncertainty. This week’s economic calendar could further influence risk appetite and volatility in crypto markets.

Key Economic Events to Watch

1. FOMC Meeting (July 29–30, 2025)

Fed Chair Jerome Powell’s press conference on July 30 will follow the two-day meeting of the Federal Open Market Committee.

• Expected Interest Rate Range: 4.25% – 4.50% (no change)

• Inflation Data: Up for second straight month — 2.7% in June

• Initial Jobless Claims: Fell to 217,000 from 221,000

Potential Crypto Impact:

• If the Fed stays cautious and avoids any dovish hints, crypto prices may trade flat or consolidate.

• However, persistent inflation could make Bitcoin and other digital assets more appealing as inflation hedges.

2. Q2 GDP Estimate (July 30, 2025)

The advance estimate of second-quarter U.S. GDP is also due Wednesday.

• Q1 2025 GDP: -0.5% contraction

• Q2 Consensus: +2.5% rebound

Potential Crypto Impact:

• A strong GDP rebound could delay any monetary easing, muting crypto rallies.

• Yet, signs of economic resilience might boost overall investor confidence across risk markets, including altcoins.

3. Non-Farm Payrolls & Unemployment Rate (August 1, 2025)

Friday’s July employment report is likely to be a major market mover.

• June NFP: 147,000

• Consensus for July: 102,000

• Unemployment Rate (June): 4.1% → Expected July: 4.2%

Potential Crypto Impact:

• Weaker job growth and a rising unemployment rate could fuel expectations of Fed rate cuts, favoring crypto.

• In previous cycles, poor labor data has sparked bullish momentum in Bitcoin, Ethereum, and mid-cap altcoins.

Summary of Potential Market Reactions

Indicator

Result Impact

Crypto Market Outlook

Fed Keeps Rates Steady

Neutral/Hawkish

Consolidation or mild downside

GDP Beats Expectations

Strong Economy Signal

Mixed: Limits rate cuts, but boosts sentiment

Job Market Weakens

Rate Cut Signal

Bullish for crypto as risk appetite returns

Final Takeaway

In an environment shaped by inflation, labor market shifts, and GDP surprises, crypto markets are no longer insulated from traditional macro forces. With the Fed’s tone becoming more nuanced, Bitcoin and altcoins could see both headwinds and tailwinds depending on how these key indicators land.

Smart investors will position accordingly—balancing short-term caution with long-term conviction in blockchain-based assets.

@ Newshounds News™
Source: Coinpedia

~~~~~~~~~

Senate Democrats Probe FHFA 

Senate Democrats Probe FHFA Over Crypto-Backed Mortgage Proposal

A group of Senate Democrats is demanding answers from Federal Housing Finance Agency (FHFA) Director William Pulte following his directive for mortgage giants Fannie Mae and Freddie Mac to explore how cryptocurrency holdings might be considered in mortgage risk assessments—without requiring conversion into U.S. dollars.

Democrats Seek Answers on Risk and Oversight

In a letter led by Senator Jeff Merkley and co-signed by Elizabeth Warren, Bernie Sanders, Chris Van Hollen, and Mazie Hirono, the lawmakers request detailed clarification on the plan’s intent, risks, and implications for the U.S. housing market and financial system.

“We need to fully assess the potential risks and benefits of your order,” the senators wrote, citing fears that integrating crypto into federally-backed mortgages could pose serious safety and soundness concerns.

Pulte's Directive Sparks Concern

Last month, Pulte instructed Fannie Mae and Freddie Mac to prepare proposals on how crypto assets could factor into single-family mortgage loan approvals, signaling a potential shift in mortgage underwriting standards.

Under current FHFA policy, crypto assets must be converted to U.S. dollars before being considered in any mortgage evaluation. Pulte’s proposal would remove that requirement.

Crypto Volatility and Consumer Risk

The senators emphasized that crypto’s high volatility, lack of liquidity, and exposure to scams, cyberattacks, and theft could place borrowers at greater risk of default:

“Borrowers may not be able to exit a crypto position and convert to cash at a price that would allow them to buffer against the risk of mortgage default.”

They also warned that homeowners could lose crypto assets without any realistic path to recovery, highlighting the heightened consumer risk this policy could introduce.

Conflict of Interest Allegations

The letter raises additional alarms about potential conflicts of interest:

• Pulte’s spouse reportedly holds up to $2 million in crypto assets.

• He serves as chair of both Fannie Mae and Freddie Mac’s boards, which are responsible for approving any crypto-related proposals.

• The senators accuse him of “stacking” the boards with crypto industry allies, undermining the objectivity of any decision-making process.

The Democrats also flagged President Trump’s deep involvement in the crypto industry, citing links to crypto mining operations, stablecoins, trading platforms, and memecoins—suggesting that political influence could further skew the policy’s development.

Lack of Transparency and Process

Lawmakers criticized the FHFA’s directive as vague and opaque, providing no clear process for:

• Developing and evaluating the crypto proposal

• Gathering public or industry feedback

• Assessing market or consumer risk

They stressed the need for “clarity on this order,” especially in light of the FHFA’s alleged failures to oversee crypto exposure in the 2023 banking crisis, where three crypto-linked banks collapsed amid liquidity concerns.

Precedent and Institutional Hesitation

The senators noted that Fannie Mae itself concluded in a 2021 internal review that using crypto or stablecoins as collateral or payment vehicles was the least appealing application of blockchain in housing finance.

Despite that, Pulte’s directive now reopens the conversation, prompting lawmakers to ask for:

• All communications regarding crypto policy

• FHFA’s process for approving the directive

• Pulte’s plans to recuse himself from potential conflicts of interest

Conclusion

While some view crypto integration into traditional finance as inevitable, this Senate inquiry underscores the deep skepticism within parts of the U.S. government regarding crypto’s stability, transparency, and suitability for long-term housing finance. The FHFA has until August 7 to formally respond.

@ Newshounds News™
Source: Cointelegraph

~~~~~~~~~

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Iraq Economic News and Points To Ponder Sunday Afternoon 7-27-25

Iraq Ranks Third In The Arab World In The Number Of Bank Cards.
 
July 26, 2025   Baghdad / Iraq Observer   The Prime Minister's financial advisor, Mazhar Mohammed Salih,  confirmed on Saturday that digital transformation in financial transactions is an urgent need to address liquidity challenges, noting that  Iraq ranks third in the Arab world in terms of the number of bank cards issued. 

Saleh said, "Digital transformation in financial transactions has become an urgent need to address liquidity challenges, not just a technical upgrade," noting that

"Iraq ranks third in the Arab world in terms of the number of bank cards issued, an indicator of the development of the financial sector and increased onfidence in government procedures." 

 He explained that "the shift to electronic payments  contributes to the introduction of liquidity into official channels and  enhances  transparency and financial oversight,"
 
calling for "overcoming challenges such as weak trust in banks, bureaucracy, and  fear of oversight by developing infrastructure and  providing incentives to citizens."    
  
https://observeriraq.net/العراق-يحتل-المرتبة-الثالثة-عربياً-بع/    

Iraqi Plan To Extend A Network Of Pipelines To Export Oil And Gas
 
July 26, 2025  Baghdad/Iraq Observer   The Ministry of Oil confirmed on Saturday that the contract to develop the Akkas gas field aims   to increase production in the first phase to 100 million standard cubic meters. While noting that the implementing American company will train the ministry's engineers in the latest technologies, the  Ministry revealed a plan for an export pipeline from the Akkas field and the extension of a network of pipelines within Iraq to export oil and gas.
 
 The Director General of the Central Oil Company, Mohammed Yassin, said, 
"Under the contract signed on July 22, the American company Schlumberger will drill six wells in the Akkas gas field, with the aim of adding 100 million standard cubic feet  to the current production of 45 million standard cubic feet, which is currently managed by national efforts."   

He added,  "The time period agreed upon in the contract is one year, which is sufficient for the targeted phase,"   expressing hope that the goal will be achieved in less than a year. 

 He continued,  "The field's maximum (peak) capacity is 400 million standard cubic feet,  but this phase of the contract targets only 100 million,  which is the first phase."

 He pointed out that "there is a plan to extend an export pipeline from the Akkas field to the Anbar complex station in Hit," explaining that  "the Ministry of Oil also has a plan to extend a network of branch pipelines within Iraq to export oil and gas."  

Yassin pointed out that  "contracting with a reputable international company operating in approximately 85 countries will yield technical gains for Iraq,  through training engineers on the latest technology."

 He emphasized that "there is training for our employees in the Central Oil Company and for new workers in the field."  He pointed out that  "the Akkas field is part of a larger plan, as many contracts were signed, especially last year, and were activated on January 1, 2025.

The most prominent of these is the Mansouriya gas field in Diyala, where oil operations began on January 1, 2025, and are proceeding faster than planned."
 
Regarding personnel, Yassin emphasized, 
"We certainly agree with all foreign companies on the system and policy for employing Iraqi businesses.
 
In this field, the vast majority of workers will be Iraqi, with priority given to employing people from nearby areas,  followed by those from more distant areas."    
  
https://observeriraq.net/خطة-عراقية-خطة-لمد-شبكة-أنابيب-متشعبة-ل/  

Iraq’s Development Road To Include 6 Airports And 15 Industrial Cities
 
    Business Iraq Jawad Al-Samarraie July 26, 2025

 Development Road Project could be key player to Iraq sustainability
 
Baghdad (IraqiNews.com) – Iraq’s Ministry of Transport recently unveiled key outcomes from a pivotal meeting led by Prime Minister Mohammed Shia Al-Sudani regarding the ambitious Development Road project. Held last Wednesday, the session brought together the Minister of Transport, the head of the Supreme Committee for Coordination Between Governorates, and various directors-general, advisors, along with a representative from Oliver Wyman, the project’s economic consultant.
 
Maytham Al-Safi, Director of Relations and Media for the Ministry of Transport,
told the Iraqi News Agency (INA) that discussions around the Development Road project have been continuous.
 
These meetings have involved the Ministry of Transport, other relevant institutions, and both the  Italian technical consultant (BTB) and the economic consultant, Oliver Wyman.
 
Delving into last Wednesday’s meeting,  Al-Safi explained that the Prime Minister stressed a clear commitment to implementing directives, particularly concerning the formation of a committee.
 
This committee will be tasked with determining the final route between Iraq and Turkey,  basing its decisions on technical and economic considerations.
 
Furthermore, the Prime Minister emphasized  resolving all existing challenges within the project and adhering to its strict timelines.
 
The meeting also featured a presentation by Oliver Wyman on the project’s economic and financial model, according to Al-Safi.

This presentation, a culmination of previous discussions with the Ministry of Transport,
outlined the economic framework to be presented to the Prime Minister,
leading to its finalization and preparation for investment offerings.
 
Regarding the project’s current status, Al-Safi confirmed that the preliminary design phase has concluded, and significant progress has been made in the detailed design stage.
 
The Ministry aims to present the project to major international companies by the end of the current year.
 
The project will be strategically divided into sections to encourage competition among global firms,
ensuring their adherence to international standards for successful implementation.
 
Beyond Iraq’s borders, Al-Safi disclosed that several countries are already formal partners in the project, including
     Turkey,
     Qatar, and the
     United Arab Emirates, via signed Memoranda of Understanding. Additionally,
 
another council has been formed, comprising
     Turkey,
     Hungary,
     Serbia, and
     Bulgaria,
representing the European dimension of the initiative.
 
Other nations also aspire to join the project, either in its execution or participation.
 
Al-Safi highlighted recent visits from economic representatives of various embassies in Baghdad to the Ministry of Transport and the Supreme Committee for the Development Road project,
including the Chinese economic advisor last year and the  Australian and  French ambassadors this year.
 
These discussions underscored widespread international interest in the project,
recognizing it as a global endeavor with implications beyond Iraq for the entire region and the world.
 
Ultimately, Al-Safi asserted that the Development Road project is poised to create thousands of job opportunities for Iraqis and fundamentally transform Iraq’s economic transportation landscape.
 
It is also expected to boost the national economic output,  leading to comprehensive Iraqi economic integration,  both domestically and internationally.

The project’s overarching policy aims for seamless connectivity across all sectors.
 
Al-Safi further clarified that the project will  integrate three existing major airports— Baghdad, Basra, and Najaf— and willconnect to three new airports slated to enter service:Nasiriyah, Karbalaa, and the recently opened Mosul airport.
 
Moreover, the project will link to 15 industrial cities, emphasizing its role beyond mere transit. He concluded by stating that
 
the project is an integrated developmental initiative,  benefiting connecting provinces by utilizing their raw materials and generating investment opportunities through local governments, institutions, and ministries.      https://www.iraqinews.com/business/iraq-development-road-airports-industrial-cities/

Experts: Al-Sudani's Field Visits Boost Development And Reduce Corruption
 
Economic 07/27/2025  Morning: Hussein Faleh  Economists consider Prime Minister Mohammed Shia al-Sudani's  visits to the governorates and  his direct monitoring of project implementation  an important step toward accelerating service delivery that directly impacts citizens.
 
They assert that the government has succeeded in advancing development. 
 Economic expert, Alaa Al-Fahd, said in an interview with Al-Sabah: “Al-Sudani focused on paying attention to investment projects and service projects,because the government raised the slogan (government of services), noting that the previous stage witnessed the Prime Minister following up on projects in the field with the governors, as well as opening them and following up on implementation rates through field visits and departments.” Television. He added that
 
Competition between governorates 
 
this has a direct impact on accelerating the pace of progress and stimulating competition between governorates to complete these projects,  particularly with regard to service provision.

He explained that  this has witnessed unprecedented success for the government through its  presence on the ground and its genuine efforts to overcome the obstacles, problems, and challenges  facing the implementation of these projects.  Al-Fahd continued, saying that
 
development projects
 
the projects to relieve bottlenecks in Baghdad represent among the most prominent strategic projects that the government has directly supervised,
in addition to other projects in the governorates that are considered development projects,
as well as gas investment projects, stressing that
 
these field visits constitute a very important positive point and indicate the Prime Minister’s direct interest in the progress of implementing these projects, stressing that
these projects combined have contributed in a real way to pushing Wheel of development forward.

Project completion
 
For his part, economic researcher Abdul Salam Hassan told Al Sabah that
 
the Prime Minister's visits to the governorates
and his direct supervision of project completion
are evidence of the government's sophistication
and keen interest in the service projects citizens need. He added,
 
"We support the Prime Minister because these steps motivate local officials and encourage them to follow up on projects and complete them on time."  

He added,  "These efforts must be accompanied by attention to the citizens, especially the poor and destitute segments in the governorates, as there are families who have no breadwinner, no salary, and no housing."
 
He stressed the need to pay attention to these segments so that achievements are parallel to service and urban projects.
 
Field follow-up
 
Economic expert Nazir Al-Saadi told Al-Sabah:  “The Prime Minister’s field monitoring and presence within the work arena carries many positives, as it enhances implementation capabilities and provides solutions to all challenges facing the project.
 
It also contributes to providing important observations that enhance implementation capabilities through encouragement and facilitation of completion requirements.”

He pointed out that  the Prime Minister's presence on the ground protects the country from the problems of delayed projects. He also ensures that the Prime Minister is fully aware of all projects, ensuring smooth implementation and  protecting the country from the spectre of corruption that haunts the field of work.     https://alsabaah.iq/118047-.html   

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 7-27-25

Good Afternoon Dinar Recaps,

BRICS Trade Settlements Shift Away from USD: 50% Now in Chinese Yuan

A growing share of BRICS trade is being settled in local currencies, with the Chinese yuan emerging as the leading alternative to the US dollar. According to a recent report from the Official Monetary and Financial Institutions Forum (OMFIF), over 50% of intra-BRICS transactions are now conducted in yuan—a clear signal that the bloc’s de-dollarization efforts are accelerating.

Yuan Gains Ground Within BRICS Bloc

China is actively promoting the use of its currency within the BRICS alliance to settle trade deals, bypassing reliance on the US dollar. OMFIF data shows:

• 50% of intra-BRICS transactions are now settled in the Chinese yuan;

• 80% of Russia’s trade is conducted in national currencies such as the yuan and ruble;

• India and Russia previously executed crude oil trades in rupees and rubles, bypassing the USD.

India alone reportedly saved more than $7 billion in foreign exchange fees through these non-dollar oil trades with Russia before President Trump returned to office in January.

Local Currency Use Rises, But USD Still Dominates Globally

While these intra-BRICS developments are notable, they must be understood in a broader global context:

• The yuan accounts for just 2% of global cross-border payment activity;

• The US dollar remains dominant, used in 88% of all international foreign exchange transactions.

Despite China’s push to internationalize the yuan, its global influence remains limited compared to the dollar. The shift within BRICS, while significant regionally, has not yet translated into a broader global trend.

Political Considerations and Strategic Positioning

The move toward local currency settlements is also being driven by political considerations:

• China, Russia, and Iran are increasingly turning to non-dollar transactions to shield their economies from US sanctions;

• The use of the yuan allows these nations to reduce their exposure to US financial pressure and trade restrictions.

However, this approach is not uniformly embraced across the bloc. India, for example, has distanced itself from the de-dollarization agenda in recent months. Amid concerns over potential US tariffs under the Trump administration, India has issued multiple public statements reaffirming its commitment to using the US dollar in trade.

A Fragmented Future for Global Settlements?

The shift in BRICS trade settlements suggests a growing regional preference for currency diversification. But despite the yuan’s growing role within the bloc, the global monetary system remains firmly anchored to the dollar.

The BRICS de-dollarization agenda may be gaining momentum in isolated corridors, but broader adoption still faces structural, geopolitical, and liquidity-based hurdles. For now, the greenback remains unchallenged on the world stage.

@ Newshounds News™
Source: Watcher.Guru

~~~~~~~~~

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“Tidbits From TNT” Sunday 7-27-2025

TNT:

Tishwash:  ‘My Account’ Project Enrolls 800,000 Public Employees in Push Toward Full Banking Access

The project team confirmed that all remaining public employees across the Kurdistan Region will soon be onboarded, ensuring access to modern banking services for the entire public workforce

The Kurdistan Regional Government’s (KRG) digital financial inclusion initiative, “My Account” (Hezhmary Min), announced on Saturday that over 800,000 public sector employees have now registered in the project and obtained personal bank accounts.

According to a statement, the project team confirmed that all remaining public employees across the Kurdistan Region will soon be onboarded, ensuring access to modern banking services for the entire public workforce.

The announcement follows a significant milestone reached earlier on Thursday, when the project revealed that the salaries of thousands of employees in key ministries—including Health, Education, and Higher Education—had been successfully transferred to their personal bank accounts for the first time.

Additionally, more than 8,000 retirees in the provinces of Duhok, Erbil, and Sulaimani have now received their pensions via personal bank accounts and can access their funds through over 400 ATMs distributed across the region.

The My Account initiative is a central part of the KRG’s efforts to build a more modern and transparent financial system by shifting from cash-based to digital salary payments. It aims to empower individuals by offering broader access to financial services, improving financial literacy, and strengthening economic infrastructure.

Officials say the project offers increased financial autonomy and security, giving every salary recipient in the region the opportunity to manage their finances independently and access a wide range of banking tools previously unavailable to many. link

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Tishwash:  June salaries will be sent soon, and a representative adds: Unless...

Iraqi parliament member Sarwa Mohammed, representing the Patriotic Union of Kurdistan (PUK), revealed that the federal government will soon send June salaries to the Kurdistan Region, barring an emergency.

“Currently, the Iraqi Ministry of Finance is reviewing the June payroll for Kurdistan Region employees,” Mohammed said in a statement followed by Al-Masry.

She added, "If there are no technical or political obstacles, and the region and Baghdad adhere to their agreement, Baghdad will send July salaries to the Kurdistan Region within a short period."

In a related development, a source in the Kurdistan Regional Government's Ministry of Finance and Economy announced that the ministry will send non-oil revenues to Baghdad this week. The payroll and audit balance sheets were also previously sent to the Iraqi Ministry of Finance  link

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

Tishwash:  Digital transformation is essential to address the liquidity crisis in Iraq.

In a move that reflects a growing awareness of the importance of financial modernization, the Prime Minister's Financial Advisor, Dr. Mazhar Mohammed Salih, emphasized that digital transformation in financial transactions is no longer a technical option, but rather an urgent economic necessity to address liquidity challenges and achieve stability in the Iraqi financial system.

In a statement monitored by Al-Mustaqilla, Saleh noted that Iraq ranks third in the Arab world in terms of the number of bank cards issued, reflecting clear progress in developing the financial infrastructure and increasing confidence in government measures to address digital transformation.

He explained that the shift to electronic payments not only contributes to reducing reliance on cash, but also plays a pivotal role in introducing liquidity into official channels and enhancing transparency and financial oversight—essential goals for building a modern, more crisis-resistant economy.

Despite the progress, Salih stressed that Iraq still faces significant challenges, most notably weak trust in banks, bureaucracy, and fear of oversight. He called for overcoming these obstacles by developing digital infrastructure and providing direct incentives for citizens to use electronic payment methods.

These statements come at a time when the Iraqi government is working to accelerate financial inclusion by requiring government institutions and private sector companies to adopt electronic payments, reflecting a strategic direction toward a more transparent and sustainable digital economy.

Abstract: The financial advisor's statement indicates that digital transformation is not merely a technological development, but rather a comprehensive economic strategy aimed at addressing the structural challenges in the Iraqi financial system, which requires political will, a secure banking environment, and increased community trust.  link

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Iraq Economic News and Points To Ponder Sunday Morning 7-27-25

The Dinar Is Recovering. Four Painful Blows To The Parallel Dollar Reveal The Successes Of The Iraqi Economic Program.

July 26, 2025  Baghdad / Iraq Observer 
 
The US dollar in Iraq is witnessing significant  and sustained decline against the national dinar, following a significant period of fluctuation far from the official exchange rate.  This was not arbitrary,  but rather the result of a comprehensive economic policy pursued by the Iraqi government as part of a reform vision it envisioned within its program.  Amid escalating debate over the stability of the Iraqi market and the varying indicators associated with the dollar exchange rate, the  Prime Minister's financial advisor, Mazhar Mohammed Salih,  issued detailed statements revealing the reasons for the continued decline in the value of the dollar on the parallel market,  compared to a significant rise in the strength of the Iraqi dinar.

He also emphasized that this  shift was not a coincidence,  but rather the direct result of a series of coordinated government measures across  monetary, fiscal, and  trade policies implemented over the past two years.
 
*4 main reasons 
 
Saleh attributed the decline in the dollar exchange rate on the parallel market,
     which is now approaching the official rate, to four main reasons. Speaking to Iraq Observer, he said,
 
"The first factor is the  strict legal ban on dollar trading in domestic transactions, particularly in the real estate market, which is   one of the largest and strongest financial markets in the country.
 
This has reduced the scope for informal foreign currency trading."  He added that the second reason relates to "the shift in monetary policy toward direct foreign exchange support via international banks that correspond with national banks for external transfer purposes,
 
     in contrast to the discontinuation of the Central Bank's currency selling window at the beginning of this year." He noted that "this policy has limited  reliance on the parallel market and the  risks of unsafe and high-cost financing."  

Observers describe this step as "not just a technical choice,
but rather a comprehensive strategy to connect Iraqi banks to the international financial system without the need for dubious or unclearly compliant local channels.
 
Thus, the map of foreign transfers was redrawn to be conducted legally and regulated,  gradually reducing the influence of the parallel market and currency exchange companies, which had previously  acted as intermediaries between importers and exporters and  set prices as they pleased."
 
* Liberalization of small importers 
 
The third reason, according to the government advisor, relates to  “small importers’ access to the official foreign currency financing network  without the need for intermediaries from money transfer companies.
 
This has  enabled them to import at a fixed, official exchange rate and has contributed to   reducing costs and  enhancing compliance, especially since   this segment represents approximately 60% of the volume of foreign trade.”

He emphasized that “this facilitation came about thanks to government measures that reduced administrative bureaucracy.”  With this opening,  exchange rates for these traders became fixed at the official rate (1,320 dinars to the dollar), which  caused the parallel market to lose a large segment of its customers,  who had been the primary fuel for the increased demand for dollars outside of official channels.  

He pointed out that the * Payment cards... another reason
 
fourth factor is the "expansion of the culture of using foreign currency electronic payment cards among travelers over the past two years,   rather than putting pressure on the cash dollar market, in addition to the availability of cash dollars to travelers at airports through national banks,   subject to flexible and highly compliant regulatory controls."
 
In the past, travelers preferred to carry large amounts of dollars in cash,   creating additional demand for hard currency in the local market,   especially during travel, tourism, or study seasons.

Consequently, the  switch to bank cards has contributed to  market stability and  reduced speculation. Saleh concluded his remarks by emphasizing that "the price defense policy adopted by the state, through the  establishment of cooperatives for consumer goods and the  construction basket funded at the official exchange rate of 1,320 dinars to the dollar, represents an integral part of the success of economic policy in Iraq,  through the harmonization of  monetary, financial, and   commercial efforts within the government program."
 
With the  continued flow of dollars into official channels, the expansion of financial oversight tools, and the  promotion of a culture of electronic payments,  the Iraqi dinar is now gradually approaching the rate officially set by the Central Bank of Iraq.
 
* Government efforts...the decisive role 
 
For his part, economic expert Safwan Qusay says that the dinar's appreciation against the dollar comes against the backdrop of the  Central Bank of Iraq's reserves rising to more than $97 billion, in addition to  gold reserves exceeding 132 tons.
 
This boosts  confidence in the Iraqi economy and  provides significant support to the value of the local currency.  In an interview with Iraq Observer, the economic expert emphasized the  positive outlook for increasing non-oil revenues and the  government's ongoing efforts to  halt gas  flaring and develop energy and development projects.  

He noted that adjusting the public spending structure toward sustainability plays a crucial role in achieving economic and financial stability.  

According to Qusay, maintaining and developing positive relations with the United States and the Gulf states could significantly boost the value of the Iraqi dinar,
especially following US President Donald Trump's speech encouraging support for US exports to Iraq.
 
Qusay emphasized that the  exit of Syria and Lebanon from the risk zone directly contributed to supporting financial stability in Iraq,  which positively impacted the dinar exchange rate.    https://observeriraq.net/الدينار-يستعيد-عافيته-أربع-ضربات-موجع/

Secret Meeting In Istanbul: Washington Threatens New Financial Sanctions On Iraq
 
July 25, 2025 Last updated: July 25, 2025  Al-Mustaqilla/- An informed source revealed to Al-Mustaqilla that  an unannounced meeting was held in Istanbul in recent days, bringing together the  Assistant Chairman of the US Federal Reserve and a  high-ranking delegation from the Central Bank of Iraq.

The source stated that the meeting came at the urgent invitation of the US to discuss critical developments in the file of financial transfers and   Iraqi banking transactions. According to the source,
 
the US side informed the Iraqi delegation that new financial sanctions are under preparation,  to be imposed on a number of Iraqi banks and financial institutions,  due to what the US side described as  "continued violations" in international transfer systems and the   failure of some Iraqi entities to comply with international guidelines to  combat money laundering and   terrorist financing.  

The source indicated that   Direct warnings 
 
the Iraqi delegation received direct warnings of the possibility of freezing additional assets and  imposing restrictions on dollar accounts  if urgent measures are not taken to regulate the Iraqi financial system and  prevent suspicious flows through some Iraqi banks and companies.
 
A new crisis is looming 
 
These developments come amid escalating tensions between Baghdad and Washington over economic and security issues, most notably restrictions on dollar transfers and US accusations against some Iraqi entities of dealing with entities on sanctions lists.
 
Observers believe that the new sanctions, if implemented,  will deal a severe blow to the Iraqi banking system and  could lead to a further deterioration in the value of the dinar and increased pressure on the local market at a time when the Central Bank of Iraq is trying to  revive investor confidence and  stabilize the exchange rate.
 
No official comment yet 
 
As of the time of writing this report, no official comment has been issued by the  Central Bank of Iraq or the  US Embassy in Baghdad   regarding the content of the meeting or the content of the warnings contained therein.   https://mustaqila.com/اجتماع-سري-في-إسطنبول-واشنطن-تهدد-بعقو/ 

Monetary Policy, Monetary Stability Approach, And Digital Transformation 2023-2025
 
Economic 07/27/2025 Baghdad: Morning  Among the new economic publications, the book 
"Monetary Policy in Iraq, Monetary Stability Methodology, and Digital Transformation 2023-2025" 
     was released by financial expert Samir Al-Nusairi.
 
This book addresses several economic and monetary themes, reflecting the Central Bank of Iraq's orientations and its financial and banking reform policies in recent years, specifically for the period 2021-2026, with  a strategic outlook extending to 2025. 
 
Chapter One: The Central Bank and Opportunities
 
monetary stability
 
The author sheds light on the methodology of monetary policy, discussing the functions  and  objectives of the Central Bank of Iraq, the challenges facing monetary policy, and presenting   the steps towards monetary stability and the pillars of monetary policy for the period 2021–2023.
 
Chapter Two: Digital Transformation and Financial Inclusion
 
The chapter reviews the Central Bank's efforts in  digital transformation, developing electronic  payments, and  supporting financial inclusion, in addition to  developing payment and systems  government support for  information technology and   cybersecurity. 
 
Chapter Three: The Central Bank's Strategy for Financial and Banking Reform 2024-2025
 
This chapter covers the strategic objectives of the reform, the Bank's vision for 2025, the  activation of economic measures, the regulation and financing of trade, and the  management of economic challenges and variables. 
 
Chapter Four: Government Support for Achievement
 
banking reform
 
The importance of cooperation between  government agencies and the Central Bank is highlighted,
 
with discussions on the comprehensive banking reform project, the role of the private banking sector, the  International Monetary Fund, and the  vision for reform in Iraq.
 
 
Chapter Five: Exchange Rates  and Recovery Procedures
 
It addresses the  causes of exchange rate fluctuations, the  factors affecting stability,  particularly the difference between the official and parallel rates, and the government's role in stimulating the private banking sector.  https://alsabaah.iq/118049-.htm

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 7-27-25

Good Morning Dinar Recaps,

Trump Era Sparks Crypto Lobbying Boom: 27 Firms Make History With First-Time Filings

The U.S. crypto industry is rapidly mobilizing its political influence, with at least 27 companies and advocacy groups filing first-time federal lobbying disclosures in recent months. The shift, detailed in a new report by The Hill, marks an aggressive move by digital asset firms to help shape the future of regulation under a more favorable political environment.

Lobbying Intensifies Amid Regulatory Momentum

According to the report, crypto newcomers—including firms in NFTs, prediction markets, and gaming—have poured nearly $2.8 million into lobbying efforts between April and June 2025. Their lobbying targets include the Treasury Department, Securities and Exchange Commission (SEC), and other key federal regulators.

In total, 73 crypto companies and associations were active in Washington during this period, spending a combined $11.4 million on lobbying.

Notably, Seychelles-based exchange KuCoin led all new participants, spending $1 million despite being barred from the U.S. market for at least two years due to prior regulatory violations.

Policy Wins: GENIUS and CLARITY Acts Lead the Way

The surge in political activity coincides with the passage of the GENIUS Act, a bipartisan bill establishing a federal framework for fiat-backed stablecoins. This legislation is viewed as a significant victory for the crypto lobby and has paved the way for further efforts.

The House has also advanced several additional bills during what some dubbed “crypto week,” including:

• The CLARITY Act, offering a legal structure for broader crypto asset regulation.

• An Anti-CBDC bill, which aims to prohibit the Federal Reserve from issuing its own central bank digital currency.

These developments reflect the industry’s shift from defensive regulatory positioning to proactive legislative engagement.

Beyond Bitcoin: Expanding Industry Footprint

Lobbying disclosures reveal a wide array of crypto use cases behind the push for favorable policy:

• Bitdeer Technologies, focused on Bitcoin mining, is working to address energy and currency concerns.

• Polymarket (operating as Blockratize) promotes crypto-based betting markets for real-world events.

• Gala Games gained attention for sponsoring the White House’s Easter Egg Roll, positioning crypto gaming in the national spotlight.

The Solana Policy Institute’s CEO, Miller Whitehouse-Levine, emphasized that the challenge isn’t technological innovation—but navigating legacy legal frameworks.

“The pendulum has swung from one extreme to another,” Whitehouse-Levine said. “We need regulatory consistency that allows innovation to flourish without overcorrecting in either direction.”

Looking Ahead: Senate Holds the Key

The crypto sector is now lobbying the U.S. Senate to take up the CLARITY Act, which could solidify federal oversight and classification of crypto firms. Industry leaders are also backing continued restrictions on a federal CBDC, aligning with broader concerns about government-controlled digital currencies.

As the political climate continues to evolve, the Trump administration’s deregulatory stance has emboldened the industry. But advocates remain cautious, hoping to avoid the policy whiplash that defined earlier years.

The message from the crypto sector is clear: They’re here to shape the rules—before the rules shape them.

@ Newshounds News™
Source: bitcoinist.com

~~~~~~~~~

Public Debt Donations Go Digital: U.S. Treasury Now Accepts Venmo and PayPal

In a notable intersection of consumer fintech and public finance, the U.S. Department of the Treasury has authorized citizens to contribute directly toward reducing the national debt using payment platforms Venmo and PayPal. The decision modernizes a decades-old initiative and reflects an evolving strategy in citizen engagement amid record-high federal debt levels.

A New Interface for an Old Program

The update comes under the “Gifts to Reduce the Public Debt” program, which has existed since 1996 but has gained little attention or traction. Since inception, the program has raised only $67.3 million—an amount that is negligible when compared to the current $36.7 trillion national debt.

According to the Treasury:

• Citizens can now make voluntary debt-reduction donations via Pay.gov using PayPal or Venmo;

• The debt has increased 87 percent since 2010, when it stood at $19.59 trillion;

• The initiative aims to make public contributions more accessible, particularly for younger, tech-savvy users accustomed to mobile payment systems.

While the move brings convenience and visibility to a long-overlooked program, reactions from financial experts have been skeptical.

Samson Mow, CEO of bitcoin infrastructure firm JAN3, dismissed the measure as symbolic. "It's like sending bitcoin to a burn address," he remarked, suggesting the donations have no meaningful impact on fiscal sustainability.

Fiscal Policy in the Spotlight

The new donation pathway also comes as national debate intensifies over the fiscal implications of former President Donald Trump's proposed tax reform, dubbed the “Big, Beautiful Bill.” The Congressional Budget Office (CBO) projects the bill could add $3.4 trillion to the federal deficit over the next decade.

This trajectory has drawn strong criticism from both public figures and economists. Elon Musk has openly criticized the move to raise the debt ceiling by $5 trillion, while hedge fund manager Ray Dalio warned that the U.S. is on an unsustainable fiscal path.

“We are spending 40 percent more than our income,” Dalio said, warning of the risk of a “deadly debt spiral” if major reforms are not enacted. He estimates the probability of a “financial trauma” due to a loss of confidence in U.S. debt now exceeds 50 percent.

To stabilize the situation, he recommends cutting the deficit from nearly 7 percent of GDP to just 3 percent, through a combination of spending reductions and increased tax revenues.

Government Response and Revenue Projections

Treasury Secretary Scott Bessent, in contrast, has taken a more optimistic tone. He asserts that Trump’s fiscal plan will produce net benefits over the long term, particularly due to new tariffs projected to raise $2.8 trillion over the next ten years. He also claimed that customs duties could bring in $300 billion this year alone—nearly 1 percent of GDP—and cited a reported budget surplus in June as evidence of positive momentum.

Nonetheless, the fundamental structural challenges remain. While enabling Venmo and PayPal donations is a notable technological step, it does little to address the deeper issues shaping the country’s fiscal trajectory: rising entitlement costs, political polarization, and diminishing global confidence in the U.S. dollar’s primacy.

As the national debt continues to grow and the world watches U.S. fiscal policy evolve, the core issue is no longer whether the debt is sustainable—but how much longer it can be sustained.

@ Newshounds News™
Source: CoinTribune

~~~~~~~~~

HKMA Signals Caution on Stablecoin Licensing Amid Market Euphoria

As Hong Kong's new stablecoin legislation is set to come into effect on August 1, the Hong Kong Monetary Authority (HKMA) is moving to temper industry expectations. Amid a surge of interest from firms eager to enter the stablecoin market, HKMA CEO Eddie Yue has cautioned that only a small number of licenses will be granted initially—and that even licensed entities will face stringent compliance burdens.

Stablecoin Rules Take Effect as Market Activity Surges

The legislation, passed in May, has already triggered a spike in stock prices and token valuations following announcements from various firms with stablecoin ambitions. However, the HKMA is taking steps to curb what it sees as excessive optimism and speculative behavior.

Eddie Yue warned of the need to “further rein in the euphoria,” emphasizing that:

• Only a limited number of stablecoin licenses will be issued at the outset;

• Most applicants are likely to be disappointed;

• Priority may be given to firms already involved in the HKMA’s Stablecoin Sandbox.

Participants in the sandbox include notable entities such as a consortium led by Standard Chartered, JD Coinlink (a subsidiary of Chinese e-commerce giant JD.com), and RD InnoTech. However, Yue made it clear that even priority status does not guarantee approval.

Profitability, Scaling, and Compliance Challenges

Yue also cast doubt on the immediate profitability of early stablecoin ventures. This is partly due to the impending rollout of robust anti-money laundering (AML) regulations, which are expected to go live alongside the licensing framework next week.

In his view:

• The new rules will introduce “stringent regulatory requirements”;

• These rules will “inevitably limit the room for stablecoin businesses to scale rapidly in the short term”;

• Discussions around stablecoins often remain “idealistic,” lacking concrete, commercially viable use cases.

Yue noted that dozens of companies have contacted the HKMA to discuss stablecoin initiatives. Yet most of the proposals remain conceptual, lacking technical depth and clear risk management strategies. Some firms, he observed, might benefit from partnering with more experienced entities to navigate the complex regulatory landscape.

Licensing Process to Launch in August

The HKMA is expected to formally unveil its stablecoin license application process next week. While Hong Kong’s regulatory approach is seen as a step forward in establishing clear digital asset frameworks, the cautious tone from regulators underscores the city's emphasis on compliance, risk control, and market stability.

As firms continue to explore the stablecoin space, Hong Kong’s measured rollout signals a deliberate effort to foster innovation—without compromising the integrity of the financial system.

@ Newshounds News™
Source: Ledger Insights

~~~~~~~~~

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“Tidbits From TNT” Saturday 7-26-2025

TNT:

Tishwash:  Secret meeting in Istanbul: Washington threatens new financial sanctions on Iraq

An informed source revealed to Al-Mustaqilla that an unannounced meeting was held in Istanbul in recent days, bringing together the Assistant Chairman of the US Federal Reserve and a high-ranking delegation from the Central Bank of Iraq. The source stated that the meeting came at the urgent invitation of the US to discuss critical developments in the file of financial transfers and Iraqi banking transactions.

According to the source, the US side informed the Iraqi delegation that new financial sanctions are under preparation, to be imposed on a number of Iraqi banks and financial institutions, due to what the US side described as "continued violations" in international transfer systems and the failure of some Iraqi entities to comply with international guidelines to combat money laundering and terrorist financing.

Direct warnings

The source indicated that the Iraqi delegation received direct warnings of the possibility of freezing additional assets and imposing restrictions on dollar accounts if urgent measures are not taken to regulate the Iraqi financial system and prevent suspicious flows through some Iraqi banks and companies.

A new crisis is looming

These developments come amid escalating tensions between Baghdad and Washington over economic and security issues, most notably restrictions on dollar transfers and US accusations against some Iraqi entities of dealing with entities on sanctions lists.

Observers believe that the new sanctions, if implemented, will deal a severe blow to the Iraqi banking system and could lead to a further deterioration in the value of the dinar and increased pressure on the local market at a time when the Central Bank of Iraq is trying to revive investor confidence and stabilize the exchange rate.

No official comment yet

As of the time of writing this report, no official comment has been issued by the Central Bank of Iraq or the US Embassy in Baghdad regarding the content of the meeting or the content of the warnings contained therein  link

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Tishwash:  Iraq's Ambassador to the UAE: The government's engagement in international partnerships strengthens its presence in the energy future.

Iraqi Ambassador to the United Arab Emirates, Muzaffar Al-Jubouri, affirmed today, Thursday, that Iraq's engagement in international partnerships strengthens its presence in the energy future, noting that the Energy Readiness Report highlights the promising opportunities that Iraq possesses and its position in the regional and international arena, and represents a turning point towards a sustainable energy future .

Al-Jubouri said during the conference to deliver the comprehensive report on the "Energy Transition Assessment in Iraq," which was attended by the correspondent of the Iraqi News Agency (INA): "The launch of the Iraq Energy Readiness Report represents the fruit of national efforts and close cooperation with the International Renewable Energy Agency (IRENA), to which we express our deep appreciation, both government and experts, for the technical, technical and cognitive support they provided throughout the preparation of this important report, as the energy sector is a fundamental pillar of economic and social development, a key axis for industrial and agricultural growth, and the provision of basic services to citizens ."

He added, "The Energy Readiness Report highlights strengths and challenges and provides realistic recommendations for improving performance and developing the energy sector in Iraq. In this context, integrating renewable energy into the national system is a strategic option to address significant waste, enhance production efficiency, and reduce emissions. Renewable energy technologies emerge as a practical and economic alternative that provides reliable solutions to secure supplies and enhance energy security. It embodies close cooperation with the International Renewable Energy Agency (IRENA)," stressing "Iraq's commitment to moving forward on this path in accordance with a development vision that takes into account national interests and enhances its positive engagement in regional and international partnerships ."

He continued: "Iraq's efforts to launch this report began in 2018, and since joining the Iraqi ambassador to the United Arab Emirates in 2021, one of our primary goals has been to closely follow up with relevant authorities to complete it in a way that reflects Iraq's energy landscape and paves the way for a clear strategic vision for energy transformation."

He pointed out that "the Energy Readiness Report represents a milestone in Iraq's path toward a sustainable energy future, as it highlights the extent of the structural challenges facing the national energy system, such as the large gap between production and demand, high technical losses exceeding 50 percent, and the declining contribution of renewable energy, which still represents 2 percent of the primary energy mix ."

Al-Jubouri explained that "the report highlighted the promising opportunities that Iraq possesses, including the abundance of natural resources and the interest of international partners. Iraq has already begun taking strategic steps, represented by the signing of important investment contracts with international and national companies, including Total Energy, Power China, and Acwa Power, in addition to construction and development projects with the Emirati company Masdar, which represent an important addition to the national energy mix."

He explained that "the most prominent feature of this report is its ability to chart a practical path towards a balanced energy future based on sustainability, economic sovereignty, and diversity, linking Iraq's development goals with global transformation paths, thus consolidating its pivotal position in the regional energy landscape and strengthening its presence in maintaining a sustainable energy future at the regional level." He pointed out that "Iraq's engagement in international partnerships strengthens its presence in the energy future ."

He pointed out that "we view this report as a real starting point for a new phase of institutional work in the energy sector, enhancing Iraq's ability to invest its resources and achieve its national aspirations for sustainable development as a first step toward building a future that meets the aspirations of our people and enhances Iraq's position on the national, regional, and international scene ."

Yesterday, Prime Minister Mohammed Shia al-Sudani received the Director-General of the International Renewable Energy Agency, Mr. Francesco La Camera .

During the meeting, according to the statement, the assessment report on the energy transition in Iraq, prepared by the agency in cooperation with Iraqi sectoral bodies, was reviewed. The report serves as a source for identifying national priorities in the field of renewable energy and energy efficiency, and will be launched soon .  link

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

Tishwash:  Defense: Iraq will look different after 100 days

Political advisor Ahmed Talib Al-Difai said on Thursday that Iraq will emerge differently after the parliamentary elections, which are only 100 days away.

Al-Difai said in a statement received by Al-Maalouma Agency, “These elections will produce a new political mentality in Iraq, completely different from the previous ones, in terms of political engagement, which will move from the box of competition for power to the space of construction, development, and the exploitation and maximization of the country’s financial resources.”

He explained that "developments in the regional arena will have clear repercussions on the next parliament, which will be the culmination of the efforts made by previous sessions and the governments that emerged from them, by dealing with them with more realism and rationality, sparing Iraq from all the conflicts taking place in the region."

He pointed out that "after 100 days, the Iraqi citizen will have the upper hand in determining Iraq's fate, and he will be worthy of this task after proving his awareness and concern for his country, which will be at the top of the pyramid of development in the region if its capabilities and resources are exploited."

He stressed that "the next political generation that will be born after 100 days will be the foundation for a new phase from which all youthful energies will launch, carrying new ideas and projects that will place Iraq among the countries of the region."

He stressed the necessity that "the Iraqi citizen, on whose keenness we rely, chooses his correct future by going out after 100 days to choose his representatives and preserves the gains of the political system, the most important pillar of which is the peaceful transfer of power in an atmosphere of expressing opinions."  link

Mot:  . well -- DoYa Knows??? -- Knot Sure!!!!  

Mot:  Things That Keep Me Up at Night !!!!!  

Iraq Economic News and Points To Ponder Saturday Afternoon 7-26-25

More Than 24 Billion Dinars In Fines Imposed On Banks And Financial Companies In Iraq.

Local  The Central Bank of Iraq announced on Saturday that fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 24 billion Iraqi dinars over the past three months.

A table issued by the bank showed that fines imposed on banks and financial companies during the past three months, starting in April and ending in June, amounted to 24 billion, 942 million, 377 thousand, and 239 dinars, a decrease compared to the first three months of the current year, when penalties amounted to 41 billion, 268 million, 578 thousand, and 75 dinars.

She explained that "the fines also included 23 administrative penalties for these banks and non-banking institutions, distributed between warnings, notices, and grace periods."

The table showed that "April saw the highest fines on banks and non-financial institutions, amounting to 9 billion, 862 million, 848 thousand, and 520 dinars, with 12 administrative penalties, while June saw the lowest fines, amounting to 6 billion, 202 million, 501 thousand, and 325 dinars, with 3 administrative penalties."   The table did not show the names of the banks that were subject to fines and administrative penalties.  64 views  07/26/2025 - https://economy-news.net/content.php?id=57917

Gold Declines As Dollar Recovers

Stock Exchange  Gold prices fell in trading on Friday, July 25, affected by a recovering dollar and signs of progress in trade negotiations between the United States and the European Union, which reduced demand for safe havens.

Spot gold fell 1% to $3,335.45 per ounce, but remains up about 0.4% since the beginning of the week. US gold futures also fell 0.8% to $3,345.20.

The dollar index recovered from its lowest level in more than two weeks, making the precious metal more expensive for holders of other currencies, while benchmark 10-year US Treasury yields rose.

"The agreement reached by Japan is significant, and there is hope for a deal between the US and the EU before the August 1 deadline. This weakens demand for safe havens, as increased risk appetite pushes capital towards riskier assets," said Peter Grant, vice president and senior metals analyst at Zaner Metals.

Two European diplomats reported that the United States and the European Union are close to concluding a trade agreement that could include imposing a general 15% tariff on European goods, following Washington's agreement with Japan.

The S&P 500 and Nasdaq hit new record highs on Thursday, as investors' risk appetite improved amid signs of easing trade tensions.

US data showed an unexpected drop in unemployment claims last week, indicating a stable labor market despite a slowdown in hiring.

The Federal Reserve is expected to keep interest rates unchanged at its meeting on July 29 and 30, while markets are pricing in a rate cut in September. Other precious metals performance:

Silver fell 0.4% to $38.91 per ounce, heading for a weekly gain of 2%.
Platinum fell 1.6% to $1,229.94.  Palladium rose 0.9% to $1,238.73. https://economy-news.net/content.php?id=57878

Government Advisor: Baghdad's Global Gold City Project Will Contribute To Diversifying Income

Economy | 02:50 - 07/26/2025  Mawazine News - Baghdad -  The Financial Advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Saturday, that the International Gold City project in Baghdad will contribute to diversifying income and shifting from consumption to production and export.

Salih said in a statement to the official agency, followed by Mawazine News, that "the International Gold City in Baghdad is a development platform for maximizing value and stimulating the economy, as the International Gold City project in Baghdad represents a qualitative shift in Iraq's economic vision."

He indicated that "the project is not limited to aesthetic or commercial dimensions, but rather is a strategic development engine within the framework of a national approach that includes diversifying sources of income and strengthening Iraq's position in regional value chains, especially in highly profitable handicraft industries."

He explained that "the Ministerial Council for the Economy recently approved the project, as an initiative aimed at transforming the capital, Baghdad, into a regional center for the gold and jewelry industry and trade, based on Iraq's pivotal geographical location and rich historical legacy in handicrafts and precious metals."

He added, "The city will host goldsmith factories, advanced production workshops, marketing and vocational training centers, as well as specialized laboratories for testing gold and precious metals and ensuring their quality. This will contribute to regulating the market, governing trade exchange, and protecting national wealth from smuggling and loss of value."

He revealed that, "The project is expected to be established in the capital, Baghdad, in an area close to commercial and industrial activity centers, ensuring effective logistical connectivity and serving local and regional investment and distribution. The project also represents a unique opportunity to employ thousands of young Iraqis, especially skilled craftsmen, by providing sustainable job opportunities in a promising sector."

He continued, "The project will enable Iraq to transform from a mere gold consumer market to a value-added production and export center. In addition, the project is a strategic step towards reducing dependence on oil and diversifying the national production base by investing in the latent potential of small and medium-sized industries with a craft and cultural character, linked to deep cultural roots."

He pointed out that "the Global Gold City project falls within the framework of the Iraqi government's vision and economic program to stimulate the private sector, stimulate local manufacturing, and integrate the Iraqi economy with its regional and international environment, thus enhancing financial stability and generating new sources of income based on knowledge, creativity, and craftsmanship." https://www.mawazin.net/Details.aspx?jimare=264261

Slight Weekly Losses For Basra Crude

Energy  Economy News – Baghdad  Basra Heavy and Medium crude prices recorded a slight weekly loss.

The prices are as follows:  Basra Heavy crude closed the last session on Friday up 57 cents to $67.43, but recorded a weekly loss of 4 cents, or 0.06%.

Basra Medium crude closed at a similar high of 57 cents, reaching $70.48, but it also recorded a weekly loss of 4 cents, or 0.06%. 95 views  07/26/2025 -https://economy-news.net/content.php?id=57899

Ministry Of Planning: Monthly And Annual Inflation Rates Declined Last Month.

Saturday, July 26, 2025 | Economic Number of reads: 246   Baghdad / NINA / The Ministry of Planning announced, on Saturday, a decline in monthly and annual inflation rates during the month of June.

The official spokesperson for the ministry, Abdul Zahra Al-Hindawi, said in a statement: “The teams of the General Authority for Statistics and Geographic Information Systems, through their field visits to all Iraqi governorates, to monitor price changes in the main markets at the district level, recorded a decrease in the monthly inflation rate by 1.2% compared to last May, while the annual inflation rate recorded a decrease of 0.6% compared to June 2024.

The ministry attributed this decrease to a decline in the prices of a number of main sections, as the food and non-alcoholic beverages section recorded a decrease of 1.7%, the tobacco section by 2.1%, while the prices of the clothing and footwear section increased slightly by 0.1%.

The housing section also decreased by 2.1%, while the household equipment and furnishings, health, and education sections maintained their levels unchanged compared to May.

The transportation section recorded a decrease of 0.6%, while the prices of the entertainment and culture section increased by 0.9%, and the restaurants and hotels section witnessed a slight decrease of 0.1%, while the prices of the goods section increased.” and miscellaneous services by 0.4%.

Al-Hindawi added that the annual core inflation rate—which is calculated after excluding items with volatile prices, namely the fruits and vegetables group within the food and non-alcoholic beverages section, and oil and cooking gas within the housing and water section—also recorded a decline of 0.7%./End   https://ninanews.com/Website/News/Details?key=1242989

Gold Prices Fall In Baghdad And Erbil

July 26, 2025  Baghdad/Erbil - Al-Zaman   Foreign and Iraqi gold prices fell on Saturday in local markets in Baghdad and Erbil, the capital of the Kurdistan Region.

Gold prices in Baghdad's wholesale markets on al-Nahr Street this morning recorded a selling price of 650,000 dinars per mithqal of 21-karat Gulf, Turkish, and European gold, while the buying price reached 646,000 dinars, compared to 657,000 dinars last Thursday.

The selling price of one mithqal of 21-karat Iraqi gold reached 630,000 dinars, and the buying price was 626,000 dinars.

In goldsmith shops, the selling price of a 21-karat Gulf gold mithqal ranged between 650,000 and 660,000 dinars, while the selling price of an Iraqi gold mithqal ranged between 630,000 and 640,000 dinars.

In Erbil, gold prices also declined, with the selling price of 22-karat gold reaching approximately 683,000 dinars, 21-karat gold reaching approximately 652,000 dinars, and 18-karat gold reaching 558,000 dinars. LINK

The Dollar Fell Against The Dinar In Baghdad And Erbil.

Stock Exchange

The dollar price fell in the markets of Baghdad and Erbil on Saturday, as the stock exchanges closed at the beginning of the week.

The dollar exchange rate fell at the close of trading on the Al-Kifah and Al-Harithiya stock exchanges, reaching 139,200 Iraqi dinars per $100. This morning, it was trading at 139,500 dinars per $100.

Selling prices at exchange offices in Baghdad's local markets declined, with the selling price reaching 140,250 Iraqi dinars for $100, while the buying price reached 138,250 Iraqi dinars for $100.

In Erbil, the dollar also fell, with the selling price reaching 139,000 dinars per $100 and the buying price reaching 138,850 dinars per $100.   https://economy-news.net/content.php?id=57918

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

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 7-26-25

Good Afternoon Dinar Recaps,

India Backs Away From BRICS Currency, Reinforces Commitment to the US Dollar

• India’s central bank dismisses BRICS currency progress, calls the USD indispensable.
• Comments seen as a strategic pivot to secure U.S. trade ties and avoid Trump’s proposed tariffs.
• India balances rupee promotion with firm support for the existing dollar-based global system.

RBI Governor Rejects BRICS Currency Momentum

In a pointed departure from the BRICS de-dollarization agenda, India’s Reserve Bank Governor Sanjay Malhotra downplayed the viability of a shared BRICS currency, while openly affirming the enduring dominance of the U.S. dollar in global trade.

“As of now, there is not much work happening on a BRICS currency,” Malhotra said in an interview with The Times of India, noting that the dollar remains an “universal cross-border currency” that is not going away anytime soon.

His remarks, delivered just days after the BRICS 2025 Summit, signal a significant policy stance from one of the group’s most influential economies.

India Distances Itself From De-Dollarization Push

The RBI’s public comments come at a time when China and Russia have aggressively promoted local-currency trade and alternatives to the dollar—moves interpreted by Western analysts as an effort to weaken U.S. financial hegemony.

India, however, appears to be taking a moderated position:

• Promoting local currency trade, particularly the rupee,

• Avoiding full-scale de-dollarization,

• And differentiating its policy from China’s yuan-based ambitions.

“It takes years, it takes decades for local currencies to gain popularity,” Malhotra said. “The dollar is going to be here for a longish time.”

Geopolitical Timing: India Shields Itself From Tariffs

Observers suggest India’s rhetoric is partly aimed at avoiding U.S. tariff threats from former President Donald Trump, who has openly warned countries against abandoning the dollar.

Following the BRICS summit, Trump imposed 50% tariffs on Brazilian goods, signaling a willingness to punish BRICS members seen as challenging U.S. financial dominance. India’s pivot, therefore, may be designed to keep U.S. trade ties intact and protect its export economy.

“India is seeking to dodge Trump’s tariffs,” Bloomberg reported. “Officials in New Delhi are informing U.S. authorities that they do not intend to undermine the greenback.”

ternal Balancing Act: Rupee Promotion Without De-Dollarization

While distancing itself from a BRICS reserve currency, India remains open to settling bilateral trade in local currencies, especially in deals with South Asia, Africa, and parts of the Middle East. This approach boosts rupee internationalization without directly challenging the dollar-based system.

The strategy:

• Encourages regional economic integration,

• Supports domestic growth targets,

• Avoids confrontation with the U.S.

India's dual approach allows it to remain a BRICS member while maintaining trade and diplomatic alignment with Washington.

U.S.–India Trade Alliance: A Strategic Priority

The pivot appears to be paying dividends diplomatically. U.S. Vice President J.D. Vance recently praised India’s economic growth and partnership potential:

“The fate of the 21st century is going to be determined by the strength of the United States and India partnership.”

Meanwhile, Indian negotiators are continuing dialogues on trade concessions with the U.S., signaling that New Delhi sees long-term opportunity in siding with the dollar-based system rather than challenging it via the BRICS framework.

Conclusion: India Reshapes BRICS Alignment for Strategic Gains

India’s decision to publicly downplay the BRICS currency and support the U.S. dollar is more than a monetary policy signal—it’s a geopolitical maneuver. In distancing itself from the yuan-led de-dollarization campaign, India is protecting trade access, strengthening bilateral ties, and securing its place in the evolving U.S.-led financial order.

With Trump’s tariff policy back in motion and tensions within BRICS growing, New Delhi is reasserting its independence—not by exiting the bloc, but by choosing balance over confrontation.

@ Newshounds News™
Source: Watcher.Guru

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Iraq Economic News and Points To Ponder Saturday Morning 7-26-25

Iraq Exports Nearly 100 Million Barrels Of Oil In A Month

Economy | 02:33 - 07/25/2025  Mawazine News – Baghdad   The Ministry of Oil announced the total oil exports and revenues achieved for last June.  The Ministry stated, in a statement received by Mawazine News, that “the quantity of crude oil exports amounted to (98) million and (882) thousand and (613) barrels (ninety-eight million and eight hundred and eighty-two thousand and six hundred and thirteen barrels).”

It added, “The revenues amounted to more than (6) billion and (698) million and (21) thousand dollars (six billion and six hundred and ninety-eight million and twenty-one thousand dollars).”

The statistics indicated that, “the total quantities of crude oil exported for the month of last June from the oil fields in central and southern Iraq amounted to (97) million and (718) thousand and (994) barrels, while exports from the Qayyarah field were (946) thousand and (741) barrels, while the quantity of exports to Jordan amounted to (216) thousand and (878) barrels.”
https://www.mawazin.net/Details.aspx?jimare=264215

Black Gold Prices Rise Globally

Economy | 11:43 - 07/25/2025   Mawazine News - Follow-up  Oil prices rose on Friday as optimism over trade talks supported the outlook for the global economy and oil demand, overshadowing news of possible increased oil supplies from Venezuela.

US West Texas Intermediate (WTI) crude futures for September delivery rose 0.87% to $65.82 a barrel, while global Brent crude futures for the same month rose 0.79% to $69.05 a barrel. https://www.mawazin.net/Details.aspx?jimare=264212

Iraq Secures All Internal Oil Pipelines.

Energy   Economy News – Baghdad  The Ministry of Interior's Energy Police Directorate confirmed on Friday that all oil pipelines inside Iraq have been secured, while explaining the use of advanced technologies to monitor them.

Director General of the Energy Police Directorate, Dhafer Al-Hussaini, said, "The oil derivatives transport lines are fully secured from south to north."

He added that "all oil pipelines are protected by patrols and ambushes, in addition to the presence of thermal cameras and drones used to enhance protection," stressing that "oil is secure throughout Iraqi territory."

The Energy Police Directorate previously announced the adoption of strict new measures to monitor the movement of petroleum tankers, noting that tracking devices have been installed on 80% of the tankers.

The directorate's director general, Major General Dhafer Al-Hussaini, said, "The Energy Police, in cooperation with the Ministry of Oil, have begun implementing a container tracking system. This is a modern technical procedure that involves installing a tracking device in each tanker. This device is linked to a special program supervised by an operations room at the Ministry of Oil. This program has also been provided to checkpoints spread throughout Iraq."

He added, "The new system allows users to identify the location of the tanker's loading, the condition of the container, the vehicle's route, and all related information, which has significantly contributed to accelerating and facilitating audit procedures and preventing forgery or tampering with documents."

He pointed out that "approximately 80% of tankers in Iraq, both private and government, have been fitted with tracking devices, while 10% have completed their procedures and are awaiting their turn to have the device installed. The remaining percentage is in the process of completing the procedures." https://economy-news.net/content.php?id=57866

Iraqi Ports Introduce Fifth-Generation Equipment To Enhance Operational Efficiency.

Money and Business  Economy News – Baghdad   The General Company for Iraqi Ports announced on Friday the introduction of a new set of advanced "fifth generation" equipment aimed at increasing operational efficiency and accelerating container handling operations.

The company's general manager, Farhan Al-Fartousi, said, "Iraqi Ports has received 14 advanced cranes, including four gantry cranes and ten RTG (rubber-tyre cranes), all of which are dedicated to container handling operations within the port yards."

He added, "The new equipment was manufactured by the Chinese company ZBMC, according to the highest international technical specifications. It features the ability to operate within smart communications systems that contribute to accelerating performance by operating automatically without human intervention, significantly reducing handling time."

Al-Fartousi explained that "the introduction of this technology represents a qualitative shift in the work of Iraqi ports, contributing to achieving unprecedented operational efficiency and enhancing Iraq's ability to compete in the maritime transport and logistics sector." https://economy-news.net/content.php?id=57857

Government Measures To Reduce Unfair Competition And Support Local Industry

Money and Business  Economy News – Baghdad  The Ministry of Commerce announced on Friday government measures to reduce unfair competition and support local industry.

Ministry spokesman Mohammed Hanoun said, "The government is working to re-evaluate previous decisions related to protecting local products, by reviewing customs duties imposed on imported goods and updating the reference prices used in customs valuation."

He explained that "the aim of this measure is to ensure that customs tariffs are consistent with current economic realities and to enhance the protection of local products from unfair competition, particularly from imported goods that are cheap or subsidized in their countries of origin."

He added, "The decision to review the assessment of customs duties imposed on imported goods will directly contribute to supporting local production by reducing unfair competition, increasing the competitiveness of national products in the Iraqi market, and encouraging local industrial and agricultural investment."

He pointed out that "the measures typically include goods that have a locally produced equivalent within Iraq, such as processed food, agricultural products, electrical and household goods, building materials, clothing, and textiles," noting that "goods that are unavailable or not sufficiently produced locally will not be included in these measures."

Regarding achieving a balance between protecting local products and ensuring consumer interests, Hanoun emphasized that "this will be achieved by imposing carefully considered customs duties that do not significantly raise prices for consumers, adopting updated and fair pricing for goods, supporting local production quality and efficiency, and strictly monitoring markets to prevent manipulation and monopoly."

He pointed out that "the measure will also help curb the smuggling of goods by unifying fees and pricing to reduce the incentives for smuggling, tightening controls at border crossings based on reference prices, and using electronic systems to match shipments, in addition to enhancing cooperation between customs and security and intelligence agencies."

The Council of Ministers had approved in its last session the imposition of an additional customs duty of (40%) of the value of the unit of measurement of the imported product, adhesives for tiles and ceramics, from all sources, for a period of 4 years, and monitoring the local market during the application to verify the impact, and the General Authority of Customs shall apply the additional customs duty for the aforementioned product and notify the Ministry of Industry and Minerals periodically about the quantity of imports, and the decision shall be implemented 120 days after its issuance.
85 views  Added 07/25/2025 - 2:27 PM  https://economy-news.net/content.php?id=57861

Gold Declines As Dollar Recovers

Stock Exchange  Gold prices fell in trading on Friday, July 25, affected by a recovering dollar and signs of progress in trade negotiations between the United States and the European Union, which reduced demand for safe havens.

Spot gold fell 1% to $3,335.45 per ounce, but remains up about 0.4% since the beginning of the week. US gold futures also fell 0.8% to $3,345.20.

The dollar index recovered from its lowest level in more than two weeks, making the precious metal more expensive for holders of other currencies, while benchmark 10-year US Treasury yields rose.

"The agreement reached by Japan is significant, and there is hope for a deal between the US and the EU before the August 1 deadline. This weakens demand for safe havens, as increased risk appetite pushes capital towards riskier assets," said Peter Grant, vice president and senior metals analyst at Zaner Metals.

Two European diplomats reported that the United States and the European Union are close to concluding a trade agreement that could include imposing a general 15% tariff on European goods, following Washington's agreement with Japan.

The S&P 500 and Nasdaq hit new record highs on Thursday, as investors' risk appetite improved amid signs of easing trade tensions. US data showed an unexpected drop in unemployment claims last week, indicating a stable labor market despite a slowdown in hiring.

The Federal Reserve is expected to keep interest rates unchanged at its meeting on July 29 and 30, while markets are pricing in a rate cut in September. Other precious metals performance:

Silver fell 0.4% to $38.91 per ounce, heading for a weekly gain of 2%.
Platinum fell 1.6% to $1,229.94.  Palladium rose 0.9% to $1,238.73. https://economy-news.net/content.php?id=57878

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