Iraq Economic News and Points To Ponder Tuesday Afternoon 7-7-26

Oil Prices Rise On Demand Watch

2026-07-07 01:18     Shafaq News   Oil prices edged higher on Tuesday, though gains were capped as traders ‌looked beyond easing geopolitical tensions in the Middle East and turned their attention to supply increases and demand prospects.

Brent crude futures gained 38 cents, or 0.5%, to $72.37 a barrel, while U.S. West Texas Intermediate crude rose 30 cents, or 0.4%, to $68.85 a barrel as of 0350 GMT, after settling down at ​around pre-Iran war levels on Monday.

"The steps towards recovery in supply have eased the immediate risk premium, but the market ​remains wary of putting too much faith in the stability of the current truce given the on ⁠again-off again nature of U.S.-Iran relations," said Tim Waterer, chief market analyst at KCM Trade.

"We will be watching for early signs of ​demand response, particularly from China. The market has priced in a lot of the positive supply news, so the next leg in oil ​prices will depend on whether physical reality matches the optimistic headlines."

President Donald Trump said on Monday the U.S. would either reach a deal with Iran or "finish the job," renewing his threat of military action as Tehran projects defiance following the funeral of former Supreme Leader Ayatollah Ali Khamenei.

Investors have been keeping a close eye on ​talks between the U.S. and Iran over the fate of shipping through the Strait of Hormuz while tracking the recovery in Gulf ​oil exports.

On Monday night, Iran's Revolutionary Guards fired at least two missiles at commercial ships transiting the Strait of Hormuz, Axios reported, citing two U.S. officials. ‌The ⁠commercial ships suffered significant damage but had no casualties, the report said.

On Tuesday, Japanese-owned supertankers carrying Saudi Arabian crude were heading to the Strait of Hormuz to exit the Gulf, shipping data showed, joining a fleet of previously stranded vessels that left a day earlier.

Despite the recent surge in strait activity, oil flow recovery is proving slower than expected, ANZ analysts said in a note.

"The initial rebound in tanker ​transits through the Strait of ​Hormuz has stalled, with vessel ⁠crossings remaining in single digits and no sustained recovery evident," they said.

"While the interim U.S.-Iran agreement has reduced immediate geopolitical risks, shipping operators remain cautious, limiting the speed at which crude exports can return ​to normal levels."

Meanwhile, the United Arab Emirates raised crude output above 3.8 million barrels per day in ​June, its highest ⁠since April 2020 and above pre-Iran war levels, after leaving OPEC+ production quotas in May, according to Reuters estimates.

The Organization of the Petroleum Exporting Countries and its allies including Russia agreed on Sunday to further increase output targets by 188,000 bpd from August, on top of similar increases ⁠for June ​and July.

Saudi Arabia cut the August official selling price (OSP) for its flagship Arab Light ​crude to Asia to $1.50 a barrel below the Oman/Dubai average, an $11 cut from the previous month and the biggest drop in more than two decades, according to a ​Saudi Aramco pricing statement on Monday.

(REUTERS)   https://www.shafaq.com/en/Economy/Oil-prices-rise-on-demand-watch

Basrah Crude Prices Climb With Global Oil Rally

2026-07-07 02:44   Shafaq News- Baghdad   Iraq's two Basrah crude grades rose in Tuesday trading, tracking a broader rally across global benchmarks.

Basrah Medium gained 67 cents to reach $60.76 per barrel, a rise of 1.17%. Basrah Heavy climbed by the same margin, adding 67 cents to settle at $57.86 per barrel, up 1.12%.

As of 0350 GMT, Brent futures were up 38 cents, or 0.5%, at $72.37 a barrel, while US West Texas Intermediate rose 30 cents, or 0.4%, to $68.85 a barrel, after both benchmarks settled near pre-Iran war levels on Monday.

Emirati Murban crude rose 0.30% to $66.68 per barrel, while Saudi Arab Light advanced 0.85% to settle at $75.68 per barrel.

The OPEC reference basket stood at $77.37 per barrel, according to the latest official data.

https://www.shafaq.com/en/Economy/Basrah-crude-prices-climb-with-global-oil-rally

Iraq's Central Bank Cuts Traveler Dollar Allowance To $2,000

2026-07-07 03:18    Shafaq News- Baghdad (Updated at 13:53)   Iraq's Central Bank (CBI) reduced the foreign currency allowance for travelers from $3,000 to $2,000 per trip, an informed source told Shafaq News on Tuesday.

The reduction applies to all Iraqi citizens departing through airports and border crossings, regardless of purpose, tourism, medical treatment, study, Hajj and Umrah pilgrimage, or business travel, the source said. The delivery mechanism remains unchanged: travelers collect their allowance through government and private banks or licensed exchange companies after their passport is stamped and before departure.

Travelers requiring additional funds for exceptional medical or business circumstances are directed to use electronic payment cards loaded with supplementary balances, the source added. Spending outside Iraq through these cards will be processed at the official exchange rate of 1,320 dinars per dollar.

Economic analyst Mohammed al-Hassani told Shafaq News that travelers needing more than $2,000 for travel expenses may turn to unofficial exchange channels, which could raise demand and put pressure on the exchange rate if supply does not keep pace.

The impact, however, may be limited and temporary, al-Hassani added, depending on the volume of affected travelers and the CBI's ability to expand the use of electronic payment cards abroad, a policy the bank has been actively promoting. Sustained card adoption could reduce pressure on the parallel market, and any uptick in the dollar rate would likely be short-lived if accompanied by regulatory measures to ensure currency availability, he said.

No official statement has been issued by the Central Bank confirming the directives as of publication time.

https://www.shafaq.com/en/Economy/Iraq-s-Central-Bank-cuts-traveler-dollar-allowance-to-2-000#:~:text=2026%2D07,time

Dollar Stabilizes In Baghdad, Rises In Erbil

2026-07-07 10:01    Shafaq News- Baghdad/ Erbil   The US dollar closed Tuesday’s trading mixed in Iraq, hovering around 153,000 dinars per 100 dollars.

According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 153,000 dinars per 100 dollars, unchanged from the morning session.

In the Iraqi capital, exchange shops sold the dollar at 153,500 dinars and bought it at 152,500 dinars, while in Erbil, selling prices rose to 153,050 dinars and buying prices stood at 153,000 dinars.

https://www.shafaq.com/en/Economy/Dollar-stabilizes-in-Baghdad-rises-in-Erbil-4

Minister Of Finance: The First Phase Of The Budget Of Programs Includes The Electricity Sector And The Governorates Of Diwaniyah And Salahuddin

Money and business   Economy News – Baghdad   Iinister of Finance Faleh Sari said that the first phase of the budget of programs and performance will include the electricity sector and the governorates of Diwaniyah and Salahuddin, provided that the expansion will be gradually to include all state institutions during the next three years.

This came during a meeting held by the Minister with the Parliamentary Finance Committee, on Tuesday, in the framework of early coordination to prepare the next draft budget in cooperation with the House of Representatives and the World Bank.

He explained that the choice of the Ministry of Electricity came because this sector has drained large amounts over the past years without achieving the desired results, which requires the adoption of the budget of programs to ensure that spending is directed towards sustainable solutions and measurable results.

He added that the selection of the governorates of Diwaniyah and Salahuddin comes because of their need to push the wheel of service and development projects, allowing the channeling of resources according to actual priorities and achieving the best benefit from financial allocations.

The minister put the members of the committee in the form of the current financial situation, and the measures taken by the ministry to meet the financial obligations, in addition to its efforts to maximize non-oil revenues, to ensure the continued financing of projects and basic services for citizens.

The meeting witnessed a consensus on the priorities of financial reform, with emphasis on the continuation of coordination between the executive and legislative authorities to make the next draft budget a success and achieve the objectives of financial and administrative reform.  https://www.economy-news.net/content.php?id=71111

Seeds of Wisdom RV and Economics Updates Tuesday Afternoon 7-7-26

Good Afternoon Dinar Recaps,

NATO Summit Opens in Ankara, Focusing on Defense Commitments and Alliance Unity

Leaders from NATO's 32 member nations are meeting in Ankara to strengthen alliance unity, expand defense investment, and address evolving global security challenges amid rising geopolitical uncertainty.

Overview

• NATO leaders convened in Ankara on July 7-8 to coordinate defense priorities and reinforce alliance cohesion.

• Defense spending, military production, and continued support for Ukraine are among the summit's top agenda items.

• The summit's outcomes could influence global security, government spending, defense industries, and long-term economic stability.

Key Developments

1. NATO Reviews Alliance Strategy

Leaders from all 32 NATO member countries gathered in Ankara under the leadership of Secretary General Mark Rutte to assess progress since the 2025 Hague Summit and establish new strategic priorities for the alliance.

The summit comes at a time of heightened geopolitical uncertainty, making alliance coordination a central focus.

2. Defense Spending Remains a Top Priority

One of the summit's primary objectives is ensuring members continue increasing defense spending commitments.

Several nations are expected to outline new military investment plans as NATO seeks to modernize capabilities while responding to ongoing security threats.

3. Defense Production and Innovation Expand

A parallel NATO Defence Industry Forum is bringing together government officials, military leaders, and private defense companies to accelerate weapons production, technology development, and supply-chain resilience.

The initiative reflects NATO's growing emphasis on strengthening industrial capacity alongside military readiness.

4. Ukraine Support Continues

Alliance leaders are expected to reaffirm continued political, financial, and military support for Ukraine while discussing longer-term regional security planning.

The summit also addresses broader deterrence measures aimed at preserving stability across Europe.

5. Global Markets Watching Geopolitical Signals

Financial markets are monitoring the summit closely because increased defense spending can influence government budgets, industrial production, commodity demand, and long-term fiscal policy.

Investors will also watch for any announcements that could affect energy security, international trade routes, and global geopolitical stability.

Why It Matters

NATO's decisions extend well beyond military affairs. Increased defense investment often reshapes government spending priorities, manufacturing activity, technological innovation, and international alliances—all of which influence the global economic environment.

Why It Matters to Foreign Currency Holders

Currency holders continue watching geopolitical developments because greater global stability generally supports stronger investment confidence, while prolonged international tensions can increase market volatility, influence central bank policies, and affect currency valuations worldwide.

Implications for the Global Reset

• Pillar 1 – Trade

Expanded defense manufacturing increases demand across international supply chains, industrial production, advanced technology, and cross-border logistics.

• Pillar 2 – Technology

Greater investment in defense innovation accelerates development in cybersecurity, artificial intelligence, communications, and next-generation infrastructure that often spills into civilian financial systems.

Closing Perspective

This is not just about defense—it reflects how geopolitical security, government investment, industrial capacity, and technological modernization continue reshaping the global economic landscape.

Seeds of Wisdom Team
Newshounds News™ Exclusive

Sources

• NATO — 2026 NATO Summit, Ankara

• Reuters — Coverage of the 2026 NATO Summit and Alliance Priorities

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Tuesday Iraq News Posted by Tishwash at TNT 7-7-2026

TNT:

Tishwash:  The House of Representatives concludes the first reading of the proposed law on combating information technology crimes.

The Iraqi parliament convened its first session of the second legislative term on Monday, 6 July 2026, under the chairmanship of parliament speaker, Haibat al-Halbousi.

According to a statement issued by the parliament's Media Office, the session included the first reading of two bills: the Combating Cybercrimes Bill and the First Amendment to the Law on the Care of Minors.

In a separate statement, the Media Office announced that the parliament's next session will be held on Thursday, 9 July, at 1:00 p.m.

The agenda will include the swearing-in of several replacement members of parliament, the questioning of the head of the National Investment Commission, and general discussions.  link

Tishwash:  After a two-year hiatus, the Iraqi government begins preparing the 2027 budget draft.

On Monday, Mazhar Muhammad Salih, advisor to the Iraqi Prime Minister for Financial Affairs, revealed that the Ministry of Finance has begun preparing the draft federal general budget law for 2027, in the first new budget that Iraq has begun preparing after two years without approving a federal budget.

Saleh told Shafaq News Agency that the Ministry of Finance began preparing the draft federal general budget law for 2027 during the month of July, based on the Financial Management Law, and that it will finish its work next September.

He added that the draft bill will then be referred to the Ministerial Council for the Economy for discussion, before being submitted to the Cabinet for approval and sent to the House of Representatives.

He pointed out that it is not possible at the present time to determine the financial size of the federal general budget for 2027, explaining that the total value of the budget will be determined after the Ministry of Finance completes the preparation of the draft law.

The government’s commencement of preparing the 2027 budget comes after two years of not approving a federal budget, as no budget was approved for the years 2025 and 2026, despite the previous government, headed by former Prime Minister Mohammed Shia Al-Sudani, enacting the three-year budget law for the years (2023-2025).

The 2025 budget could not be implemented after its amendment schedules were not approved within the House of Representatives and the time period of the law expired, which prompted the Ministry of Finance to adopt a temporary disbursement mechanism at a rate of (1/12) to secure salaries and mandatory expenses.

The 2026 budget was also not approved, due to the delay in forming the government, the economic repercussions of the regional war, and the fluctuations in energy markets, so Iraq continued to manage its spending according to the temporary spending mechanism.  link

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Tishwash:  Al-Zaidi faces a test from the "big players"... Washington awaits proof of seriousness in the corruption and weapons files.

Approximately $300 billion has been smuggled out of Iraq.

Before Prime Minister Ali al-Zaidi arrived in Washington in mid-July, Baghdad found itself facing a sensitive political test: the funeral of former Iranian Supreme Leader Ayatollah Ali Khamenei and several members of his family in Iraq.

The event, which was supposed to be a religious ceremony, quickly transformed into a political issue where the interests of Baghdad, Tehran, and Washington intersected, becoming one of the first hurdles before the anticipated meeting between al-Zaidi and US President Donald Trump.

Although the visit to the White House comes amid signs of improving relations between Baghdad and Washington, serious questions remain about al-Zaidi's ability to implement the commitments outlined in the understandings reached between the two sides in what has become known as the "June Agreement."

Conversely, observers believe that the Prime Minister made significant progress toward the US administration in the past week, after launching a broad campaign to prosecute officials accused of corruption—a move seen as an attempt to demonstrate seriousness in fulfilling the pledges made to Washington.

Iranian pressure and Iraqi hesitation:

A well-informed political source revealed that approving the holding of Khamenei's funeral procession in Iraq on Wednesday was not an easy decision within the government. It was preceded by hesitant discussions before the scales tipped under Iranian pressure, supported by positions from forces within the coordination framework and armed factions.

The source, a member of parliament from one of the major Shiite parties, told Al-Mada on condition of anonymity that "Al-Zaidi realizes this issue could put him in an embarrassing position with Trump during his upcoming visit to Washington."

According to information circulating in political circles, the funeral program has undergone a significant change. Baghdad has been removed from the schedule of ceremonies, which were initially planned for the city of Kadhimiya. The visit will now be limited to Najaf and Karbala, with the possibility that Al-Zaidi will receive the body of the Supreme Leader at Najaf Airport.

Estimates suggest that a large funeral procession in the capital might have turned into anti-American demonstrations, punctuated by chants and slogans targeting the US president, similar to the scenes witnessed during funeral processions in Iran.

US President Donald Trump had expressed clear interest in the funeral processions that began earlier in the week in Iran.

In a press statement, commenting on the scenes showing thousands of participants weeping during the ceremonies, Trump said he was surprised by the scale of the public reaction, adding, "Maybe those were fake tears."

Iranian Foreign Minister Abbas Araqchi arrived in Baghdad for his first visit since the end of the last war in the region, coinciding with the launch of what has become known as "Operation Dawn," which targeted members of parliament and officials accused of corruption last week.
According to leaks following the visit, Araqchi discussed the details of the funeral processions with Iraqi officials, while initial reports indicated that Baghdad would be one of the main stops for the event.

However, the Iraqi committee responsible for organizing the pilgrimage quickly denied this information, before the outlines of the new program, limited to Najaf and Karbala, became clear.
Religious rituals, not political calculations.

In contrast, former diplomat Ghazi Faisal offers a different interpretation of the matter. He believes that Washington, including President Trump, understands that the funeral of the former Iranian Supreme Leader is not an official function of the Iraqi government, but rather falls within the realm of religious and sectarian rituals.

Faisal told Al-Mada, "Al-Zaidi is concerned with running the government, while Khamenei's funeral is part of religious tradition." He added that Baghdad's approval of holding the funeral ceremonies in Najaf and Karbala "is simply a response to religious traditions followed with religious figures, officials, or even ordinary citizens."

Faisal points out that Trump himself announced a week's grace period for Iran to complete the funeral ceremonies, out of respect for the occasion, without exerting pressure related to the negotiations between the two sides.

He believes that what transpired represents a "temporary truce" to allow for the conclusion of the ceremonies before the resumption of negotiations between Washington and Tehran.

The former diplomat concludes that the United States, as a multi-religious and multicultural country, generally views religious and sectarian diversity, and its associated rituals, with respect. This makes it unlikely that the funeral ceremonies, in themselves, will turn into a crisis in official relations between Baghdad and Washington, unless they are accompanied by political messages or stances that transcend their religious dimension.

How is al-Zaidi viewed in Washington now?

Regarding al-Zaidi's image in the United States, Kato Saadallah, a researcher specializing in American affairs, believes that Washington still grants al-Zaidi an important political opportunity, but at the same time links the continuation of this support to his ability to implement genuine reforms.

Saadallah tells Al-Mada that the Prime Minister's visit comes at the invitation of US President Donald Trump and coincides with the celebrations of the 250th anniversary of the founding of the United States. He adds that Trump will be attending the NATO summit in Ankara beforehand and will meet with al-Zaidi upon his return to Washington.

He points out that Trump had previously declared his support for al-Zaidi and the current government, a stance that granted Baghdad significant political leeway. However, according to Saadallah, this support will not be open-ended or unconditional.

He adds that the US president, through his envoy Tom Barrack, informed the Iraqi government of a set of priorities that must be addressed if Baghdad wants to maintain American backing.

Saadallah identifies three main priorities . The first is ending the proliferation of weapons outside state control and disbanding militias and armed factions, thereby restoring the state's monopoly on the use of force.

The second priority is combating corruption, which, according to the researcher, is the issue Trump focuses on more than any other, based on the conviction that corruption is the gateway through which all other Iraqi crises stem.

The third priority is halting the smuggling of hard currency and closing the channels that drain Iraq's financial reserves and fuel financial networks linked to foreign entities. Is "Operation Dawn" enough? Saadallah believes that the recent campaign launched by al-Zaidi against a number of those accused of corruption represents an important step, but it still requires further evidence.
link 

Presidential advisor: Funds recovered from corrupt individuals will contribute to reducing the deficit gap and financing projects.

The Prime Minister’s financial advisor, Mazhar Muhammad Salih, confirmed on Tuesday that the funds recovered from corrupt individuals represent exceptional revenues that cannot be relied upon in preparing public budgets, while noting that these funds will contribute to reducing the deficit gap and financing projects.

Saleh said in statements followed by Al-Mirbad that “the funds recovered from the corrupt are important and non-recurring exceptional revenues, as they cannot necessarily and permanently be relied upon in preparing public budgets, but they constitute an important source of revenue in financial planning.”

He continued: “These funds are often directed towards bridging the deficit gap or financing specific projects that directly affect the lives of individuals, or strengthening the country’s financial reserves, and not towards building the annual budget within a long-term fiscal policy, because that is linked to the ceilings and capabilities of fiscal policy within the framework of preparing and implementing public budgets.”

He stressed that "recovering corruption funds is important because it reduces financial waste, supports the public treasury, and enhances the confidence of citizens, investors, and the international financial community in the country's economic system," noting that "the funds recovered from corrupt individuals represent an important support tool for the national economy, but they are not necessarily a complete substitute for the general budget, as this depends on the size and ceilings of public spending."  link

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

Tishwash:  Amid anti-corruption campaigns and efforts to recover stolen funds, for the first time in months, currency traders in Iraq are seeing the dollar fall to 152,000 Iraqi dinars

Currency markets in Iraq opened this morning (Tuesday) with a further decline in the exchange rate of the US dollar against a relative recovery of the Iraqi dinar.
Exchange bureaus in both the Kifah and Harithiya exchanges in Baghdad recorded a rate of 152,700 Iraqi dinars per 100 US dollars.

In Erbil, the dollar was offered at the Sheikh Allah market at the opening price of 152,650 dinars, and it was sold at the same price in Sulaimaniyah.

This relative decline is the first of its kind in months, as the dollar had approached 160,000 dinars in recent weeks, putting pressure on markets and traders.

Experts attribute this relative recovery to the strong anti-corruption campaigns led by Iraqi Prime Minister Ali Faleh al-Zubaidi, which have resulted in the arrest of dozens of corrupt officials and the recovery of billions of dinars from them.  link

Seeds of Wisdom RV and Economics Updates Tuesday Morning 7-7-26

Good Morning Dinar Recaps,

Federal Reserve Policy in Focus as Markets Watch for the Next Move

Investors are closely monitoring Federal Reserve signals as easing inflation and resilient markets shape expectations for future interest rate decisions.

Overview

• Financial markets remain focused on the Federal Reserve as investors evaluate whether policymakers will keep interest rates unchanged in the coming months.

• Recent economic data points to moderating inflation and steady economic growth, strengthening expectations that the Fed may maintain a patient approach.

• Any shift in Federal Reserve policy could significantly influence borrowing costs, the U.S. dollar, global capital flows, and investment markets.

Key Developments

1. Markets Expect a Patient Federal Reserve

Recent inflation data has continued to show signs of moderation while economic growth remains relatively resilient. As a result, investors increasingly believe the Federal Reserve may have room to leave interest rates unchanged until clearer evidence emerges that inflation is either accelerating again or moving sustainably toward its long-term target.

2. Interest Rate Expectations Are Driving Market Sentiment

Expectations surrounding future Fed decisions continue to influence Treasury yields, equity markets, and the U.S. dollar. Lower expectations for additional rate hikes have helped support stock prices while easing pressure on businesses and consumers facing higher borrowing costs.

3. Federal Reserve Communications Become the Market's Focus

With major inflation data largely behind them, investors are now paying close attention to speeches from Federal Reserve officials and upcoming policy communications. Any indication that policymakers are becoming more hawkish or dovish could quickly shift market expectations.

4. Global Markets Continue Watching U.S. Monetary Policy

Because the U.S. dollar remains the world's primary reserve currency, Federal Reserve decisions extend well beyond the United States. Central banks, international investors, and global financial institutions continue adjusting investment strategies based on expectations for U.S. interest rates and monetary policy.

Why It Matters

Federal Reserve policy influences nearly every major financial market. Interest rates affect consumer borrowing, business investment, government debt financing, currency values, and global capital flows. Even small changes in market expectations can produce significant movements across stocks, bonds, commodities, and foreign exchange markets.

Why It Matters to Foreign Currency Holders

Those following global currency developments continue watching Federal Reserve policy because U.S. interest rates influence the relative strength of the dollar against other currencies. A stable or less aggressive Fed could reduce upward pressure on the dollar while encouraging greater international capital movement into alternative assets and emerging markets.

Implications for the Global Reset

• Pillar 1 – Debt

Federal Reserve interest rate decisions directly affect government borrowing costs, corporate financing, and consumer debt. A more patient monetary policy could ease financial pressures while supporting broader economic stability.

• Pillar 3 – Assets

Expectations for lower interest rates often support equities, bonds, precious metals, and digital assets as investors adjust portfolios based on changing monetary conditions and future liquidity expectations.

Closing Thoughts

While no policy changes have been announced, financial markets are increasingly focused on what the Federal Reserve says next rather than what it has already done. Future communications will help determine whether current optimism surrounding inflation and economic growth can be sustained throughout the remainder of the year.

This is not just about interest rates—it reflects how central bank policy continues to influence global capital flows, asset valuations, and confidence in the international financial system.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Reuters — "Global Markets Watch Federal Reserve Signals as Investors Assess Interest Rate Outlook"

• Federal Reserve — FOMC News and Monetary Policy Information

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Iraq Economic News and Points To Ponder Late Monday Evening 7-6-26

The Iraqi Parliament Confirms Its Readiness To Legislate The Oil And Gas Law.

Shafaqna Iraq - Parliamentary statements confirmed that there is a trend within the House of Representatives to legislate the oil and gas law, in addition to working on developing non-oil resources and reducing dependence on the public sector.  

Member of Parliament, Youssef Al-Kalabi, announced the readiness of Parliament to legislate laws supporting the national economy, foremost among them the oil and gas law, calling for the activation of the suspended clauses to maximize state revenues outside the oil sector, while praising the recent Cabinet decisions and describing them as having put its finger on the “source of the problem.”

Al-Kalabi said in a speech during the first economic conference entitled “ Iraq After Oil”: “The recent decisions of the Council of Ministers have begun to put their finger on the root of the problem.”  

He pointed out that “previous decisions regarding component cranes, spare parts orders, and granted exceptions contributed to removing the real and serious private sector from the circle of competition in favor of groups that depend on other personalities.” 

He then added that “the House of Representatives sees a need for a genuine revolution in the oil sector and its alternatives,” revealing that “more than 16 articles were drafted by Parliament in the previous session to maximize state revenues outside the oil sector, in cooperation with members of the Finance Committee.” He expressed his regret that 12 of those proposals were not implemented or acted upon.  

Te MP stressed that “the post-oil era requires two essential steps; the first is to expedite the enactment of the oil and gas law, given that the processes of extracting, marketing, exporting and developing oil are still subject to old laws that are outdated and no longer useful.”  

He also explained that “the second step lies in developing non-oil imports and reducing the labor market’s dependence on the public sector as much as possible.”  

Al-Kalabi added that “the House of Representatives is fully prepared to legislate these laws.”  

He then pointed out that “the government program of the Prime Minister, which was voted on by Parliament, includes important clauses that give priority to enacting the oil and gas law, and opening the labor market to the serious and genuine private sector to be a key partner in economic development.”      https://iraq.shafaqna.com/

Middle East: Al-Zaidi's Government Moves Towards Opening Files On Ministers, Governors, And Directors-General, While Tracking Their Money And Properties

Baghdad - One News - 7/06/2026   Middle East Monitor reported that the Iraqi government is preparing to launch the second phase of its anti-corruption campaign, in a move that expands the scope of prosecutions to include ministers, governors, directors-general, and current and former officials, while simultaneously tracking funds, real estate, and investments linked to those suspected of involvement inside and outside Iraq.  

The website indicated that the new phase includes opening files in the Ministries of Health, Oil and Electricity, in addition to completing the procedures for the “Where did you get this?” bill to strengthen the prosecution of illicit enrichment; the step comes within the government’s efforts to expand accountability, recover public funds and prosecute those involved without exception.  

https://1news-iq.net/ميدل-إيست-حكومة-الزيدي-تمضي-نحو-فتح-ملف/

Al-Kalabi: The Recent Cabinet Decisions Have Put Their Finger On The "Source Of The Problem" In The Private Sector

Baghdad - WAA - Hassan Al-Fawaz     Member of Parliament, Youssef Al-Kalabi, affirmed the readiness of Parliament to legislate laws that support the national economy, foremost among them the oil and gas law, calling for the activation of the suspended clauses to maximize state revenues outside the oil sector, while praising the recent Cabinet decisions and describing them as having put its finger on the "source of the problem".  

Al-Kalabi said in a speech during the first economic conference entitled “Iraq After Oil,” which was attended by a correspondent from the Iraqi News Agency (INA): “The recent decisions of the Council of Ministers have begun to address the root causes of the problem,” noting that “previous decisions related to the components of cranes, spare parts orders, and granted exceptions contributed to removing the real and serious private sector from the circle of competition in favor of groups that depend on other personalities.”  

He added that "the House of Representatives sees a need for a genuine revolution in the oil sector and its alternatives," revealing that "more than 16 articles were drafted by Parliament in the previous session to maximize state revenues outside the oil sector, in cooperation with members of the Finance Committee." He expressed his regret that 12 of those proposals were not implemented or acted upon.  

The MP stressed that “the post-oil phase requires two basic steps; the first is to expedite the enactment of the oil and gas law, as the processes of extracting, marketing, exporting and developing oil are still subject to old laws that are outdated and no longer useful,” indicating that “the second step lies in developing non-oil imports, and reducing the labor market’s dependence on the public sector as much as possible.”  

Al-Kalabi continued, “The House of Representatives is fully prepared to legislate these laws,” noting that “the government program of the Prime Minister, which was voted on by Parliament, includes important clauses that give priority to legislating the oil and gas law, and opening the labor market to the serious and genuine private sector to be a key partner in economic development.”      https://ina.iq/ar/economie/267483-.html

The Value Of The Seized Items In The Adnan Al-Jumaili Case Has Risen To 127 Billion Dinars And 24 Million Dollars

Baghdad - One News - 7/06/2026   Judge Diaa Jaafar, the investigating judge of the Central Anti-Corruption Criminal Court, announced the seizure of new sums of money worth (25) billion Iraqi dinars, as well as the seizure of one million dollars, in addition to gold jewelry estimated at about (5) kilograms, within the framework of the ongoing investigations into the case of the accused Undersecretary of the Ministry of Oil for Liquidation Affairs, Adnan Al-Jumaili, who is detained, and the parties involved with him.  

Judge Jaafar explained that the total amount of money seized had increased to (127) billion Iraqi dinars and (24) million dollars, in addition to the seizure of real estate, vehicles and other gold jewelry.

 He stressed that investigations and the pursuit of those involved are ongoing, until all necessary legal procedures in the case are completed.   https://1news-iq.net/ارتفاع-قيمة-المضبوطات-في-قضية-عدنان-ال/

Dawn Crackdown To Include Iraqi Corrupt Ministers And Governors

2026-07-06 / 00:59   Shafaq News- Baghdad     Iraq's Dawn Crackdown (Sawlat al-Fajr) anti-corruption campaign will extend to ministers, directors-general, current and former lawmakers, and provincial governors in its next phase, to be carried out in more than three batches, MP Abdullah al-Khaigani told Shafaq News on Monday.  

Prime Minister Ali al-Zaidi, Supreme Judicial Council President Faiq Zaidan, and the security forces executing the operations have agreed to pursue corrupt figures without targeting any political group at the expense of another, al-Khaigani said. The operations will cover all Iraqi provinces.  

Inside the investigation, a senior government source told Shafaq News that the detainees held under the Dawn Crackdown are being questioned daily under strict secrecy measures that bar visits from political parties, lawyers, and outside contacts.  

Specialized teams from the Anti-Corruption Court and the Federal Integrity Commission oversee the process. The measures are intended to prevent leaks that could allow suspects to flee the country, conceal evidence, or influence proceedings.  

Legal procedures for a second phase are already complete, covering corruption files in the health, oil, and electricity ministries, and tracing funds, properties, and investment projects linked to officials in the United States, Europe, and Turkiye. A new list of accused individuals is being prepared alongside a review of an illicit enrichment bill.  

The Federal Integrity Commission confirmed that arrest warrants are being executed in accordance with the law and under judicial supervision. New files that may implicate additional figures continue to be opened, judicial sources said, as part of broader efforts to recover public funds and pursue suspects inside and outside Iraq.  

The arrest campaign launched at dawn on June 28, targeting political officials, lawmakers, and businessmen. Al-Zaidi described it during a Council of Ministers session as the first phase of broader measures to recover public funds, tasking oversight bodies with receiving indications of corruption or negligence across state institutions. On Saturday, he called on Iraqis to report corruption and directed that financial rewards be paid to informants.  

Read more: Iraq detains top officials in anti-corruption sweep: What we know so far

https://shafaq.com/en/Iraq/Dawn-Crackdown-to-include-Iraqi-corrupt-ministers-and-governors

Central Bank Of Iraq: Domestic Currency Issued Rose To 112.9 Trillion Dinars By The End Of April

2026-07-02 04:03    Shafaq News - Baghdad      Data from the Central Bank of Iraq, released on Thursday, showed that the volume of currency issued in the country rose to 112.896 trillion dinars from the beginning of 2025 until April 2026.  

  According to data seen by Shafaq News Agency, the total currency issued during the past year amounted to 99.799 trillion dinars, and 13.097 trillion dinars were added to it during the first four months of this year.    

The net currency in circulation outside banks rose to 104.542 trillion dinars, after reaching 92.560 trillion dinars at the end of 2025, registering an increase of 11.982 trillion dinars.  

The currency held by banks also increased to 8.354 trillion dinars by the end of April 2026, compared to 7.239 trillion dinars at the end of 2025, an increase of 1.115 trillion dinars.

These indicators point to the growth in the volume of issued and circulating currency in the Iraqi economy during the first months of 2026, coinciding with an increase in circulating cash liquidity and a rise in the volume of cash held by the banking sector.

https://shafaq.com/ar/تصـاد/المركزي-العراقي-ارتفاع-العملة-المصدرة-داخليا-لى-112-9-تريليون-دينار-بنهاية-نيسان

Seeds of Wisdom RV and Economics Updates Monday Evening 7-6-26

Good Evening Dinar Recaps,

Wall Street Near Record Highs as Lower Oil Prices and Cooling Inflation Lift Investor Confidence

U.S. stock markets remain near record highs as declining oil prices, easing inflation pressures, and expectations for a more patient Federal Reserve continue to support investor optimism. With corporate earnings season beginning, markets are looking for confirmation that economic growth remains resilient.

Overview

• Major U.S. stock indexes continue trading near record highs as investor confidence strengthens.

• Lower oil prices and moderating inflation are reducing pressure on the Federal Reserve to raise interest rates.

• Corporate earnings, inflation data, and upcoming Federal Reserve communications will likely determine whether the rally can continue.

Key Developments

1. Wall Street Maintains Record Momentum

The Dow Jones Industrial Average continues to trade near record highs, while the S&P 500 and Nasdaq Composite remain well supported by strong investor confidence and improving economic sentiment. Market participation has also broadened beyond technology, with gains spreading across multiple sectors.

2. Falling Oil Prices Ease Inflation Concerns

Oil prices have retreated following OPEC+ production increases and the gradual normalization of shipping through the Strait of Hormuz. Lower energy costs are helping reduce inflation expectations while easing pressure on businesses and consumers.

3. Investors Expect a More Patient Federal Reserve

With inflation moderating and recent economic data showing signs of slower growth, investors increasingly believe the Federal Reserve may delay additional interest rate increases. Expectations for a more measured monetary policy have supported both equity markets and bond prices.

4. Earnings Season Becomes the Next Major Test

Attention is shifting toward second-quarter corporate earnings, where investors will look for evidence that companies continue delivering strong profits despite higher borrowing costs. Technology companies remain a major focus, but broader participation across healthcare, industrials, and financials is encouraging investors.

5. Economic Data Will Drive Market Direction

Upcoming inflation reports, Federal Reserve meeting minutes, and speeches from Fed officials are expected to shape expectations for the remainder of the year. Positive economic data could extend the current rally, while renewed inflation pressures could increase market volatility.

Why It Matters

Financial markets are responding to improving economic conditions as lower energy prices help reduce inflation while resilient corporate performance supports investor confidence. The combination of stable growth and moderating inflation creates a more favorable environment for businesses, consumers, and financial markets.

Why It Matters to Foreign Currency Holders

Federal Reserve policy continues to influence global currency values, interest rates, and international capital flows. Any shift toward a slower pace of monetary tightening can affect the U.S. dollar, precious metals, and investment opportunities across global markets.

Implications for the Global Reset

• Pillar 1 – Debt

Moderating inflation may reduce pressure for higher interest rates, influencing government borrowing costs, debt servicing, and overall financial stability.

• Pillar 5 – Energy

Lower oil prices and improving global energy supplies are helping stabilize inflation while supporting broader economic growth and market confidence.

Future Outlook

Investors will closely monitor upcoming corporate earnings, inflation reports, and Federal Reserve communications to determine whether the current market rally has additional room to advance. Continued moderation in inflation combined with resilient earnings could strengthen confidence that the economy is achieving a more balanced and sustainable expansion.

This is not just about rising stock prices—it reflects how stabilizing energy markets, moderating inflation, and expectations for more predictable monetary policy are strengthening confidence across the global financial system.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Reuters – Global Markets: Stocks Rise as Oil Falls and Investors Await Fed Signals

• Modern Diplomacy – Can US Stocks Extend Their Rally as Chip Shares Rebound and Oil Prices Fall?

~~~~~~~~~~

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Trader Who Saw 1987, 2000 & 2008 Warns: ‘I Can See a Collapse Coming Now’ | Todd ‘Bubba’ Horwitz

Trader Who Saw 1987, 2000 & 2008 Warns: ‘I Can See a Collapse Coming Now’ | Todd ‘Bubba’ Horwitz

Miles Franklin Media:  7-6-2026

Michelle Makori, President & Editor-in-Chief of Miles Franklin Media, speaks with Todd “Bubba” Horwitz, Founder & Chief Market Strategist at BubbaTrading.com, who warns that he sees another major market collapse forming after 47 years of trading through historic booms and busts.

 Horwitz says the warning signs are everywhere – from overvalued markets and AI-driven job losses to a housing market he says looks “almost an instant replay” of 2008. He argues the Fed has “destroyed true capitalism,” predicts the 10-year Treasury yield could hit 6%, and warns stocks could face a 40% to 60% decline.

Horwitz also explains why he would be buying physical gold and silver now, why he believes paper gold resembles a “Ponzi scheme,” and why Bitcoin could still have upside despite near-term downside risk.

He and Michelle also discuss America’s 250th anniversary, the erosion of free enterprise, socialism, debt, inflation, and whether the country is “melting down from within.”

In this episode of The Real Story with Michelle Makori:

• Why Horwitz sees a 40% to 60% market decline ahead
  
  

• Housing warning signs and echoes of the 2008 crisis
  
  

• AI, layoffs, and why some jobs may never return
  
  

• Physical gold, silver, Bitcoin, and the risk in paper markets
  
  

• The Fed, true capitalism, socialism, and America at 250

00:00 Coming Up

01:26 Introduction

04:03 Overvaluation

06:32 Jobs Data Breakdown

11:22 Debt Limits Fed Pushback

16:02 Housing Echoes 2008

18:34 What Triggers The Crash

21:23 Rotation Or Head Fake

29:32 Where To Put Fresh Cash

34:15 Gold Holds Key Floor

34:22 Investor Psychology Basics

35:09 Bitcoin Entry Strategy

36:49 CME Goes 24/7 38:12 Volatility And Liquidity

40:04 Gold Manipulation Debate

41:56 Spoofing Reality Check

44:19 Paper Gold Ponzi Claim

49:37 Inflation Math Wake Up

55:26 America At 250 Crossroads

01:04:06 Closing Thoughts

https://www.youtube.com/watch?v=X38XwKQJg

Every Fiat Currency Has Failed. Every Single One.

Every Fiat Currency Has Failed. Every Single One.

GoldSilver: 7-6-2026

Every fiat currency in history has failed. 100% of them.

David Morgan on why the dollar is no different — and what governments do when the debt gets this bad.

 In this conversation, GoldSilver's Maggie Lake sits down with David Morgan — founder of The Morgan Report and one of the most respected voices in precious metals — as the dollar slides and gold and silver move higher.

David explains why most investors are watching the wrong number, why debt is the real story behind today's move, and the four options governments have when the debt gets out of control.

None of them are good for your savings. You'll learn:

Why you should be watching the dollar — not the gold price

Why debt — not inflation — is the real problem

The 4 things governments do when debt gets this bad

How financial repression is already happening to your savings

Why the new Fed chair cannot fix a $40 trillion deficit

Why central banks now hold gold instead of US paper

https://www.youtube.com/watch?v=1nGSOCO0sAw

Seeds of Wisdom RV and Economics Updates Monday Afternoon 7-6-26

Good Afternoon Dinar Recaps,

U.S. Labor Market Cools as Weak Jobs Report Reshapes Federal Reserve Expectations

A weaker-than-expected June employment report has strengthened expectations that the Federal Reserve may pause interest rate increases, as slower hiring points to a cooling labor market despite a stable unemployment rate.

Overview

• U.S. employers added only 57,000 jobs in June, roughly half of economists' forecasts.

• Financial markets sharply reduced expectations for a near-term Federal Reserve rate hike.

• Investors are now focused on upcoming Fed meeting minutes for guidance on future monetary policy.

Key Developments

1. Hiring Slows More Than Expected

The U.S. economy added 57,000 new jobs in June, well below expectations, while payroll gains for previous months were also revised lower. The slower pace of hiring suggests labor demand is beginning to soften after several years of strong employment growth.

2. Unemployment Rate Remains Low

The unemployment rate edged down to 4.2%, although much of the decline reflected fewer people participating in the labor force rather than stronger hiring. Overall, labor market conditions remain relatively stable despite slowing job creation.

3. Markets Reduce Rate Hike Expectations

Following the report, traders significantly lowered expectations that the Federal Reserve will raise interest rates at its next policy meeting. Investors increasingly believe policymakers have less urgency to tighten monetary policy if the economy continues to moderate.

4. Dollar Weakens as Treasury Yields Ease

The employment report pushed Treasury yields lower while the U.S. dollar weakened against several major currencies. Financial markets interpreted the softer labor data as reducing inflationary pressure and lowering the likelihood of additional monetary tightening.

5. Attention Turns to the Federal Reserve

Investors are now awaiting the release of the Federal Reserve's meeting minutes for further insight into policymakers' views on inflation, employment, and future interest rate decisions.

Why It Matters

Employment remains one of the Federal Reserve's most closely watched economic indicators. Slower hiring could reduce inflation pressures while allowing policymakers greater flexibility in balancing economic growth with price stability.

Why It Matters to Foreign Currency Holders

Federal Reserve policy influences the value of the U.S. dollar and global currency markets. Any shift toward fewer interest rate increases can affect exchange rates, precious metals, international investment flows, and expectations surrounding future monetary policy.

Implications for the Global Reset

• Pillar 1 – Debt

A slower labor market may reduce inflation pressures and influence future interest rate decisions, affecting government borrowing costs, debt servicing, and broader financial conditions worldwide.

• Pillar 3 – Assets

Changing expectations for Federal Reserve policy continue to impact the U.S. dollar, bonds, gold, and other financial assets as investors reposition portfolios based on future monetary policy.

Future Outlook

Upcoming Federal Reserve communications and additional employment reports will determine whether the recent slowdown represents a temporary pause or the beginning of a broader economic moderation. Markets will continue watching inflation and labor market data closely as expectations for future interest rate decisions evolve.

This is not just about employment—it reflects how labor market conditions influence monetary policy, financial markets, and the broader direction of the global economy.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Reuters – US Job Growth Misses Expectations in June; Unemployment Rate Falls to 4.2%
  

• Reuters – Fed Seen Less Likely to Raise Rates as Job Growth Slows

~~~~~~~~~~

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Newshound's News Telegram Room Link

RV Facts with Proof Links Link

RV Updates Proof links - Facts Link

Start Here room with Most Asked Questions Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

Seeds of Wisdom Team™Website

Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Late Sunday Evening 7-5-26

Iraq Promises Rewards For Reporting Stolen Public Funds

Baghdad (IraqiNews.com) – Iraqi Prime Minister Ali al-Zaidi urged citizens on Saturday to report stolen public funds, promising rewards for those who assist in recovering embezzled money as part of a national crackdown on corruption.

Al-Zaidi called on all people to disclose public assets and finances gained via corruption offenses and to participate in exposing, retrieving, and returning them to the state, according to a statement released by the Prime Minister’s Office (PMO).

In accordance with the law, whistleblowers will be awarded a satisfying cash percentage, according to the statement.

The Iraqi government launched a countrywide anti-corruption campaign last week known as “Operation Dawn.” Al-Zaidi ordered the crackdown, which has resulted in the arrests of several lawmakers and senior officials, as well as the recovery of millions of dollars, gold, luxurious cars, and real estate.

Iraqi security forces began the massive campaign following judicial orders, targeting dozens of current and former government officials.

The step, which included lifting parliamentary immunity and overnight raids in Baghdad’s Green Zone, is based on confessions and investigations into the major arrest of Adnan al-Jumaili, a deputy oil minister accused of corruption.

The Iraqi Prime Minister’s legal advisor, Munir Haddad, said last week that the number of suspects continues to increase as investigations with the arrested ones are ongoing.

Some of the suspects attempted to leave the country or seek a safe haven in Iraqi Kurdistan, but Kurdish authorities have shown cooperation and handed over eight suspects so far.

The offenses being investigated include both typical embezzlement and money laundering.

https://www.iraqinews.com/iraq/iraq-promises-rewards-for-reporting-stolen-public-funds/

Iraq Pushes For Higher OPEC+ Oil Quota As 2027 Capacity Review Looms

Berlin – Seven OPEC+ members decided on Sunday to again raise oil production quotas as Gulf countries reel from the Middle East war.

Ministers from key OPEC+ countries Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on Sunday and “decided to implement a production adjustment of 188 thousand barrels per day,” a statement from the organisation said, adding that “this adjustment will be implemented in August 2026”.

Gulf countries had to cut output after the near-paralysis of the Strait of Hormuz orchestrated by Iran during the war in the Middle East, which blocked their oil exports for several months.

Between the first quarter of 2026 and May, combined production by Saudi Arabia, Iraq, and Kuwait — three of the seven countries raising their quotas — fell by some six million barrels per day, OPEC data have shown.

But on June 17, Tehran and Washington signed a memorandum of understanding, committing themselves to removing obstacles to maritime traffic in the Strait of Hormuz for the duration of talks following the signature.

Giovanni Staunovo, a commodity analyst at the Swiss bank UBS, told AFP that “for now, production is probably still below” OPEC+’s targets.

– Time-consuming restart –

Since the memorandum of understanding was signed, ship transport in the region has slowly recovered, with oil prices dropping sharply to levels comparable to those seen before the war in anticipation of a gradual return to normal.

Oil supplies through this shipping lane may already have exceeded ten million barrels a day, according to a US official quoted by the Bloomberg agency.

But the oil currently leaving the strait has up to now been sitting in tankers or storage facilities, said Saxo Bank analyst Ole Hansen, adding that “shut-in production takes time to restart”.

“Assuming shipping continues to normalise, July will show an improvement with August probably being the month where the pickup accelerates,” he told AFP.

– Cohesion at stake –

“For next year, everybody is anticipating a surplus,” Jorge Leon, an analyst at Rystad Energy, told AFP.

Rebuilding the inventories that countries tapped during the conflict should help absorb the flows at first, but producers may face a strong downward pressure on prices later on.

And OPEC+, already weakened by the departure of the United Arab Emirates from the group in May, will have to manage sliding prices while members will push for production increases.

Iraq, in particular, has asked the cartel to raise production quotas to make up for the shortfall it incurred during the war in the Middle East, the Iraqi Oil Ministry said in late June.

But Hansen said the need for a higher quota “is not imminent” as production volumes are still far from their pre-conflict levels.

“Iraq’s request may become part of the 2027 capacity review, where production baselines will be examined,” he added.

At the end of the year, the OPEC+ is indeed due to reassess members’ quotas based on their ability to produce more, which could become a thorny issue.

https://www.iraqinews.com/iraq/iraq-pushes-for-higher-opec-oil-quota-as-2027-capacity-review-looms/

Iraq Signs Halliburton Deal To Boost Oil And Gas Production

Baghdad – Iraq’s government and US oil services giant Halliburton signed a deal Sunday to manage two oil fields in the country’s south, as Baghdad looks to boost production.

The state-owned “Basra Oil Company has signed a joint management contract with the American company Halliburton for the Bin Omar and Sinbad oil fields” in Basra province, said the Iraqi oil ministry’s media office.

Iraqi Oil Minister Bassem Khodeir said the deal with Halliburton aligns with the government’s plans to “boost oil and gas production capacity.”

He added that Iraq aims to boost oil output at the Bin Omar field by 150,000 barrels per day (bpd) within five years, along with 300 million cubic feet of associated gas.

Production at the Sinbad oil field should increase by 80,000 to 100,000 bpd.

Baghdad’s new government, led by Prime Minister Ali Al-Zaidi, has urged the OPEC oil cartel to increase Iraq’s oil production quota, taking into account the damage done to its industry from past conflicts and the recent Middle East war.

Like other oil producers, Iraq, a founding member of OPEC, was greatly affected by the US-Iran conflict, as it is hugely dependent on oil exports, which make up about 90 percent of its budget revenues.

The new contract with Halliburton was signed prior to Zaidi’s upcoming visit to Washington later this month.

Zaidi, who only recently took office with the blessing of the United States, hopes to attract more US investment to Iraq, which urgently needs to revive its economy, especially after revenue losses caused by the halt of oil exports during the Middle East war.

https://www.iraqinews.com/iraq/iraq-signs-halliburton-deal-to-boost-oil-and-gas-production/

Chief Justice Faiq Zidan Orders Major Overhaul Of Iraqi Judiciary

Baghdad (IraqiNews.com) – The Supreme Judicial Council of Iraq has enacted an expansive administrative overhaul across the federal judiciary following a series of executive decrees issued on Sunday, July 5, 2026. Authorized by the President of the Council, Judge Faiq Zidan, these fundamental structural realignments include high-level reassignments, the rotation of key leadership benches, and the deployment of twelve senior judges to the federal appellate court.

Legal observers consider this judicial restructuring to be one of the most comprehensive institutional reorganizations in recent years, explicitly designed to maximize institutional efficiency, optimize administrative oversight, and enhance institutional performance across provincial jurisdictions.

According to official court documentation obtained by IraqiNews.com, Judge Zidan authorized the immediate assignment of twelve prominent judges to serve as temporary delegates within the Federal Court of Cassation under the explicit statutory provisions of the Judicial Organization Law.

Simultaneously, the Supreme Judicial Council formalized a crucial executive change within the national prosecution apparatus by assigning Judge Adel Khudhair Abbas to officially assume the responsibilities of Chief of Public Prosecution. Prior to this landmark appointment, Judge Abbas served as a leading member of the Judicial Oversight Commission, bringing extensive institutional evaluation experience to the state’s highest prosecutorial office.

The judicial decrees also introduced targeted structural changes within the provincial court leadership of Babylon, Saladin, and Anbar provinces, replacing several outgoing officials with experienced appellate jurists to lead regional judicial headquarters. Under these new directives, the Deputy President of the Babylon Appeals Court, Hamid Mahdi Thomas, has been elevated to officially run the Babylon Appeals Court.

In a parallel move, the Deputy President of the Saladin Appeals Court, Walid Ahmed Kurdi, was advanced to manage the Saladin Appeals Court. Finally, the Deputy President of the Anbar Appeals Court, Ali Daij Jariyan, received a direct assignment to take full operational control of the Anbar Appeals Court, concluding a highly strategic institutional rotation within Iraq’s judicial hierarchy.

https://www.iraqinews.com/iraq/iraq-supreme-judicial-council-faiq-zidan-overhaul-reassignments-2026/

Chief Justice Faiq Zidan Orders Major Overhaul Of Iraqi Judiciary

Baghdad (IraqiNews.com) – The Supreme Judicial Council of Iraq has enacted an expansive administrative overhaul across the federal judiciary following a series of executive decrees issued on Sunday, July 5, 2026. Authorized by the President of the Council, Judge Faiq Zidan, these fundamental structural realignments include high-level reassignments, the rotation of key leadership benches, and the deployment of twelve senior judges to the federal appellate court.

Legal observers consider this judicial restructuring to be one of the most comprehensive institutional reorganizations in recent years, explicitly designed to maximize institutional efficiency, optimize administrative oversight, and enhance institutional performance across provincial jurisdictions.

According to official court documentation obtained by IraqiNews.com, Judge Zidan authorized the immediate assignment of twelve prominent judges to serve as temporary delegates within the Federal Court of Cassation under the explicit statutory provisions of the Judicial Organization Law.

Simultaneously, the Supreme Judicial Council formalized a crucial executive change within the national prosecution apparatus by assigning Judge Adel Khudhair Abbas to officially assume the responsibilities of Chief of Public Prosecution. Prior to this landmark appointment, Judge Abbas served as a leading member of the Judicial Oversight Commission, bringing extensive institutional evaluation experience to the state’s highest prosecutorial office.

The judicial decrees also introduced targeted structural changes within the provincial court leadership of Babylon, Saladin, and Anbar provinces, replacing several outgoing officials with experienced appellate jurists to lead regional judicial headquarters. Under these new directives, the Deputy President of the Babylon Appeals Court, Hamid Mahdi Thomas, has been elevated to officially run the Babylon Appeals Court.

In a parallel move, the Deputy President of the Saladin Appeals Court, Walid Ahmed Kurdi, was advanced to manage the Saladin Appeals Court. Finally, the Deputy President of the Anbar Appeals Court, Ali Daij Jariyan, received a direct assignment to take full operational control of the Anbar Appeals Court, concluding a highly strategic institutional rotation within Iraq’s judicial hierarchy.

https://www.iraqinews.com/iraq/iraq-supreme-judicial-council-faiq-zidan-overhaul-reassignments-2026/

Seeds of Wisdom RV and Economics Updates Monday Morning 7-6-26

Good Morning Dinar Recaps,

OPEC+ Boosts Oil Production as Falling Energy Prices Lift Global Markets

OPEC+ has agreed to increase oil production for a fifth consecutive month as shipping through the Strait of Hormuz continues to recover, helping push crude prices lower. The decline in energy prices has improved investor confidence, eased inflation concerns, and strengthened expectations that the Federal Reserve may have greater flexibility on interest rates.

Overview

• OPEC+ will increase oil production by 188,000 barrels per day beginning in August as global energy markets stabilize.

• Lower oil prices and improving Gulf shipping are easing inflation pressures and supporting stock market gains.

• Investors are now turning their attention toward Federal Reserve policy and second-quarter corporate earnings.

Key Developments

1. OPEC+ Expands Oil Production Again

Seven OPEC+ members—including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—agreed to raise production by 188,000 barrels per day beginning in August. The increase continues the gradual reversal of production cuts introduced during the 2023 global banking turmoil and reflects improving market conditions.

2. Strait of Hormuz Recovery Supports Energy Supplies

Shipping through the Strait of Hormuz continues to normalize following the U.S.-Iran ceasefire and ongoing diplomatic efforts. Although vessel traffic remains below pre-conflict levels, the reopening of this critical energy corridor has helped restore confidence in global oil supplies.

3. Oil Prices Fall as Supply Improves

Brent crude has retreated to roughly pre-conflict levels near $72 per barrel, reflecting increased production, recovering exports, softer demand from China, and improving shipping conditions. Analysts believe the market may face a period of short-term oversupply if current trends continue.

4. Lower Energy Prices Boost Wall Street

Falling oil prices helped lift investor sentiment as the Dow Jones Industrial Average reached another record while the S&P 500 and Nasdaq continued advancing. Lower fuel costs are easing inflation expectations, reducing pressure on consumers and businesses alike.

5. Federal Reserve and Earnings Become the Next Focus

With inflation moderating, investors are closely watching upcoming Federal Reserve meeting minutes, economic data, and second-quarter earnings reports. Strong corporate earnings combined with stable inflation could provide additional support for financial markets during the second half of the year.

Why It Matters

Energy prices remain one of the largest drivers of global inflation and economic growth. As oil markets stabilize, businesses benefit from lower transportation and production costs while consumers gain relief through reduced fuel prices, creating more favorable conditions for economic expansion.

Why It Matters to Foreign Currency Holders

Lower oil prices often influence inflation, interest rate expectations, and currency valuations worldwide. A more stable energy market also supports global trade and financial confidence, factors closely monitored by investors following international monetary developments.

Implications for the Global Reset

• Pillar 2 – Trade

The continued reopening of the Strait of Hormuz and expanding oil production improve global supply chains, strengthen international trade, and reduce disruptions across one of the world's most important shipping corridors.

• Pillar 5 – Energy

Higher OPEC+ production and recovering Gulf exports increase global energy supplies, helping stabilize oil prices while supporting long-term energy security and economic recovery.

Future Outlook

Markets will now focus on whether improving energy supplies continue to moderate inflation without slowing economic growth. Upcoming Federal Reserve communications and corporate earnings reports will provide important signals about the strength of the U.S. economy during the second half of the year.

If oil prices remain stable and earnings continue to outperform expectations, investor confidence could strengthen further despite ongoing geopolitical uncertainties.

This is not just about oil prices—it reflects how improving energy security, recovering global trade, and moderating inflation are working together to support broader economic stability and financial market confidence.

Seeds of Wisdom Team

Newshounds News™ Exclusive

Sources

• Al Jazeera – OPEC+ Countries Say They Will Expand Monthly Oil Production

• Modern Diplomacy – Can U.S. Stocks Extend Their Rally as Chip Shares Rebound and Oil Prices Fall?

~~~~~~~~~~

🌱 A Message to Our Currency Holders🌱

If you’ve been holding foreign currency for many years, you were not foolish.
You were not wrong to believe the global financial system would change.

What failed was not your patience — it was the information you were given.

For years, dates, rumors, and personalities replaced facts, structure, and proof. “This week” predictions created cycles of hope and disappointment that were never based on how currencies actually change.

That is not your failure.

Our mission here is different:   • No dates • No rates • No hype • No gurus

Instead, we focus on:
• Verifiable developments • Institutional evidence
• Global financial structure • Where countries actually sit in the process

Currency value changes only come after sovereignty, trade, banking, settlement systems, and fiscal coordination are in place. History and institutions confirm this sequence.

You will see silence. You will see denials. That is not delay — that is discipline.

Protect your identity. Organize your documents.    Verify everything.
Never hand your discernment to anyone who cannot show proof.

You deserve truth — not timelines.

Seeds of Wisdom Team
Newshounds News

~~~~~~~~~~

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Newshound's News Telegram Room Link

RV Facts with Proof Links Link

RV Updates Proof links - Facts Link

Start Here room with Most Asked Questions Link

Follow the Gold/Silver Rate COMEX

Follow Fast Facts

Seeds of Wisdom Team™Website

Thank you Dinar Recaps