Iraq Economic News and Points to Ponder Friday AM 1-17-25

Stability Of The Dollar Exchange Rate Against The Dinar In Baghdad Markets

Stock ExchangeEconomy News – Baghdad   The US dollar exchange rate stabilized this morning, Thursday, in Baghdad markets.

The dollar prices witnessed stability with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 151,000 dinars for every 100 dollars, which are the same prices recorded yesterday morning, Wednesday.

Selling prices in exchange shops in local markets in Baghdad recorded stability, as the selling price reached 152,000 dinars, while the purchase price reached 150,000 dinars for every 100 dollars. https://economy-news.net/content.php?id=52016

Central Bank: Closing the electronic platform will not affect the movement of remittances at all

economy | 09:47 - 01/16/2025  Mawazine News – Baghdad  The Central Bank of Iraq confirmed that closing the platform will not affect the movement of remittances at all, while noting that transfers through this platform until 12/23/2024 are less than 7 percent of total sales.

A source explained to the official newspaper, which was followed by (Mawazine News), that "the aim of this step is to control financial operations and work within the international scope in the process of foreign transfers and adopt the method of correspondent banks, which contributes to enhancing the stability of the financial sector in light of the current circumstances.

" The Central Bank also indicated that "strengthening the balances of Iraqi banks that have correspondent banks abroad will continue as is," explaining that this does not mean stopping "currency selling" operations, but rather a change in their mechanisms within a method followed all over the world. ‘

He added that the mechanism for strengthening bank balances has changed, as it is now done through the accounts of Iraqi banks with correspondent banks directly, instead of the accounts that were done through the Central Bank, and that this new mechanism is dedicated to meeting the needs of imports and foreign trade of goods, commodities and services, which contributes to supporting the financial and economic stability of Iraq. https://www.mawazin.net/Details.aspx?jimare=258658

Oil Prices Rise, Brent Crude At $82.37 Per Barrel
economy | 10:33 - 01/16/2025  Mawazine News - Baghdad   Oil prices rose for a second day on Thursday after a larger-than-expected drop in U.S. crude inventories added to supply concerns stemming from U.S. sanctions on Russian energy trade.

Brent crude futures rose 30 cents, or 0.4%, to $82.33 a barrel by 0120 GMT, after rising 2.6% in the previous session to their highest since July 26. U.S. West Texas Intermediate (WTI) crude futures rose 32 cents, or 0.4%, to $80.36 a barrel, after rising 3.3% on Wednesday to their highest since July 19, according to Reuters.

Prices rose after the U.S. Energy Information Administration reported on Wednesday that domestic crude oil inventories fell for a seventh straight week, the longest streak of declines since July 2021.

Global crude supply is expected to tighten in the coming months as new U.S. sanctions on Russian oil producers and tankers have prompted Moscow’s major customers to seek alternative sources of crude, while freight rates have also risen.

The International Energy Agency said in its monthly oil market report on Wednesday that the latest round of sanctions could significantly disrupt Russian oil supplies And distribute it.  https://www.mawazin.net/Details.aspx?jimare=258660

Instead Of "Granting It Exclusively To Foreign Banks", A Proposal To Offer The Dollar On "Trading Platforms"

Buratha News Agency1252025-01-16   Economic experts and specialists considered that the Central Bank's attempt to avoid responsibility for the currency auction and sale came through delegating this task to foreign banks instead of it, indicating that the bank should open the door to competition and put the dollar into circulation instead of sending it exclusively to some foreign banks.

Financial and banking researcher Mustafa Hantoush said on Thursday that the Central Bank seeks to avoid responsibility for the currency auction and foreign trade by authorizing foreign banks that have accounts in correspondent banks with the approval of their branches or foreign owners, according to the government newspaper Al-Sabah.

He pointed out that if the Central Bank wanted to reduce the gap in the dollar, it must open the door to competition between banks and rely on a basket of currencies to expand the options available in the market, calling for amending the criteria for evaluating local banks and raising their financial capabilities, which would contribute to achieving stability and increasing competitiveness, and thus stabilizing the dollar price.

Hantoush suggested the possibility of transferring the dollar to trading platforms in the stock market, to be sold to those entitled to it through direct transactions instead of sending the dollar exclusively to banks, stressing the need to organize these operations by switching to the "Forex" market, and implementing mechanisms that ensure that funds are not transferred until the goods arrive with the banks' guarantee.

He explained that these measures would increase tax revenues and limit illegal trade, which would contribute to strengthening the national economy.  https://burathanews.com/arabic/economic/455175

The Prime Minister Confirms That The Government Has Many Projects That The European Bank Can Contribute To Financing

Thursday 16 January 2025 14:43 | Economic Number of readings: 276  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed that the government has many projects that the bank can contribute to financing.

His media office said in a statement, "Prime Minister Mohammed Shia Al-Sudani received today, Thursday, at his residence in London, a delegation from the European Bank for Reconstruction and Development (EBRD), headed by the bank's president, Odile Renaud-Basso.

Al-Sudani expressed his appreciation for the bank's members' approval of Iraq's accession to it in October of last year, stressing the importance of the partnership with the bank, especially since it includes cooperation in many sectors that the government has placed among the priorities of its government program.

The statement added, "During the meeting, they discussed the mechanisms for implementing the agreement signed with the bank, which was previously voted on by the House of Representatives, and the role of the bank in developing the Iraqi private sector, in addition to discussing opportunities for cooperation in renewable energy projects, including solar and wind energy, to reduce carbon emissions and increase energy efficiency.

The Prime Minister stressed that the government has many projects that the bank can contribute to financing, including vital infrastructure projects such as roads, bridges and public transportation, especially in areas affected by the conflict, and technical assistance from the bank to strengthen and develop the banking sector in Iraq, noting the importance of the bank president visiting Iraq to explore potential cooperation opportunities.

The statement continued, "During the meeting, it was proposed to establish a joint working group to determine the priorities of the projects in which the European Bank for Reconstruction and Development will participate in Iraq. https://ninanews.com/Website/News/Details?key=1180402

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

Seeds of Wisdom RV and Economic Updates Friday Morning 1-17-25

 Good Morning Dinar Recaps,

BRICS: CHINA INTERESTED IN BUYING VOLKSWAGEN, GERMAN CARS

According to a Reuters report, BRICS member China is interested in buying various struggling German car factories, including Volkswagen. Volkswagen is one of several German automakers that is winding down production amid worries of closure.

However, China is reportedly interested in buying these factories for a foothold in Germany, a source close to Chinese government thinking told Reuters.

Buying the Volkswagen factory would allow China to build influence in Germany’s prized auto industry, home to some of the oldest and most prestigious car brands, the source says. Volkswagen is one of the most prominent companies in Germany: a signal of its industrial growth over the last century.

However, with an ongoing global economic slowdown, the country’s industrial companies are struggling. The move would be a huge one for China, allowing it to avoid EU tariffs by building cars in Germany for sale in Europe.

Furthermore, the move could pose a further threat to European manufacturers’ competitiveness, while putting China and BRICS in a higher position. Chinese companies have invested across a range of industries in Europe’s biggest economy already, from telecommunications to robotics. However, the move to buy Volkswagen and other German automakers would be the country’s first step into European auto companies.

@ Newshounds News™

Source:  Watcher Guru

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SEN. CYNTHIA LUMMIS ACCUSES FDIC OF CRYPTO OVERSIGHT MISCONDUCT, DEMANDS ACCOUNTABILITY

Lummis cited whistleblower claims the FDIC destroyed documents and silenced staff during a crypto oversight probe, sparking industry outrage.

U.S. Senator Cynthia Lummis (R-WY) has issued a scathing rebuke of the Federal Deposit Insurance Corporation (FDIC), alleging misconduct in the agency’s handling of digital asset oversight and threatening whistleblowers.

On Thursday, Lummis sent a letter to FDIC Chair Marty Gruenberg after whistleblowers alleged that the agency destroyed materials related to its crypto-related operations and threatened employees to silence them.

“The FDIC’s alleged actions are unacceptable and illegal,” Lummis wrote in her letter. The Senator has vowed to pursue the truth behind these allegations, calling for accountability from federal agencies involved in the oversight.

“The American people deserve transparency, and I will see to it that they get the answers they deserve,” Lummis wrote in a statement on Thursday.

The FDIC did not immediately respond to Decrypt's request for comment.

The allegations center on "Operation Chokepoint 2.0," a purported initiative to marginalize crypto firms by cutting off their access to banking services.

Whistleblowers reportedly told Lummis that the FDIC monitored staff access to sensitive materials to prevent Senate disclosures.

“The FDIC is attempting to hide Operation Chokepoint 2.0, and the FDIC must preserve all documents related to digital assets immediately,” Lummis wrote on X (formerly Twitter). “Tim Scott and I will get to the bottom of it.”

Tim Scott was sworn in as Senate Banking Committee chair after his predecessor, anti-crypto politician Sherrod Brown, lost to Bernie Moreno in the 2024 US. elections.

Lummis has instructed the FDIC to preserve all records related to its digital asset activities since January 2022 in her letter.

The senator detailed specific categories of documents to preserve, including communications about Signature Bank, Silvergate Bank, and crypto-related enforcement actions.

Lummis also demanded the preservation of all records tied to FDIC guidance and coordination with other federal banking agencies on digital assets.

The politician warned of criminal referrals to the Department of Justice if its found the FDIC “obstructed Senate oversight” and “knowingly destroyed materials.”

Operation Chokepoint 2.0: Allegations of Crypto Industry Targeting

Operation Chokepoint 2.0 mirrors an Obama-era undertaking, which targeted industries such as firearms dealers and payday lenders by pressuring banks to sever ties with these businesses.

Industry advocates claim this newer iteration focuses squarely on crypto, employing similar tactics to marginalize an entire sector through backdoor regulatory measures.

Last month, documents obtained via a Freedom of Information Act (FOIA) request by Coinbase revealed the FDIC directed banks to “pause all crypto asset-related activity” in 2022.

Crypto leaders such as Coinbase CEO Brian Armstrong and Custodia Bank CEO Caitlin Long have shared personal accounts of “debanking,” where financial services were abruptly withdrawn without reason.

Earlier this month, pro-crypto attorney John Deaton called Operation Chokepoint 2.0 a clear example of regulatory overreach driven by political motives rather than sound policy.

“This isn’t just a fight for crypto,” Deaton warned at the time. “It’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats.”

@ Newshounds News™

Source:  Decrypt

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“Tidbits From TNT” Friday Morning 1-17-2025

TNT:

Tishwash:  Al-Sudani leaves London for Baghdad after concluding his visit to the United Kingdom

Prime Minister Mohammed Shia Al-Sudani concluded his visit to the United Kingdom today, Friday (January 17, 2025), and headed to Baghdad.

Al-Sudani's media office stated in a statement received by "Baghdad Today" that the latter "left the British capital, London, heading to Baghdad after concluding his official visit to the United Kingdom, which included the following:

- Meeting with His Majesty King Charles III of the United Kingdom.

- Meeting with British Prime Minister Keir Starmer.

- Heading the Iraqi delegation in the extensive bilateral talks between the two countries.

- Issuing a joint statement with the Prime Minister of the United Kingdom.

- Signing a broad partnership and cooperation agreement with the United Kingdom.

- Meeting with British Foreign Secretary David Lammy.

- Meeting with British Defense Secretary John Healey.

- Meeting with British Home Secretary Yvette Cooper.

- Meeting with the British Minister of Science and Technology.

- Receiving a delegation from the European Bank for Reconstruction and Development (EBRD).

- Meeting with former Prime Minister Ibrahim Al-Jaafari.

- Receiving representatives of 24 major British companies specializing in various sectors and activities.

- Receiving the CEO of Shell Oil Company.

- Receiving a delegation from Stellar Energy.

- Receiving a delegation from Technip Energy.

- Receiving a delegation from BAE Systems for military industries and cyber security.

- Receiving representatives of the company (UGT), specialized in renewable and clean energy.

- Receiving a delegation from General Electric Company (GE).

- Receiving representatives of four Irish companies specialized in different fields.

- Receiving a delegation from the British telecommunications company Vodafone.

- Meeting with the Chairman of the Board of Directors of the British Clayton Company.

- Receiving the President of the Oxford Centre for Islamic Studies in the United Kingdom.

- Receiving a group of British university presidents.

- Honoring the Prime Minister by the University of Greenwich, UK.

- The Prime Minister honored the Iraqi Professor Bashir Al-Hashemi for receiving the title of (Knight) from the King of Britain.

- Meeting a group of Iraqi students studying in British universities.

- Granting 20 study seats from the University of Greenwich to Iraqi master’s students in various specializations.

- Signing 12 memoranda of understanding in various specializations with British universities.

- Signing 8 memoranda of understanding between the Iraqi public and private sectors and British companies.

- Signing a memorandum of understanding with British Petroleum (BP).

- Signing a Memorandum of Understanding on Climate Change, Environment and Carbon Economics.

- Signing a Memorandum of Understanding between the Sovereign Guarantees Initiative Committee and the British Export Credit Guarantee Corporation.

- Participation in a dialogue seminar held by Chatham House in London.

- Participation in a financial seminar attended by major British companies and the Iraqi private sector.

- Holding a dialogue seminar for the Iraq-British Business Council (IBBC).

- Taking care of receiving archival documents related to Baath crimes.

- Meeting a number of members of the Iraqi community in Britain.

- Opening of the Iraqi Cultural Center in London.

- Receiving an archaeological tablet dating back to the Assyrian era. 

- The Cultural Advisor to the Prime Minister was sent to offer condolences to the family of the late architect Hisham Al-Madfai in London. 

Meetings and press interviews of the Prime Minister: 

- Meeting with a group of senior editors-in-chief of Arab newspapers, opinion writers, and Arab and foreign journalists.

- Conducting a televised interview with BBC Arabic and English.

- Conducting a televised interview with the English channel (SKY NEWS).

- Interview with the Financial Times.  link

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Tishwash:  Sudanese seeks technical assistance from EBRD to boost banking sector

On Thursday, the Iraqi Prime Minister, Mohammed Shia al-Sudani, requested technical assistance from the European Bank for Reconstruction and Development (EBRD) to strengthen and develop the banking sector in Iraq, while stressing that the government has many projects that the bank can contribute to financing, including vital infrastructure projects such as roads, bridges and public transportation.

This came during his reception at his residence in London of a delegation from the European Bank for Reconstruction and Development (EBRD), headed by the bank’s president, Odile Renaud-Basso.

According to a statement by the Prime Minister's media office received by Shafaq News Agency, Al-Sudani expressed his appreciation for the approval of the bank's members for Iraq to join it in October of last year, stressing the importance of the partnership with the bank, especially since it includes cooperation in many sectors that the government has placed among the priorities of its government program.

During the meeting, according to the statement, the mechanisms for implementing the agreement signed with the bank, which was previously voted on by the House of Representatives, and the role of the bank in developing the Iraqi private sector were discussed, in addition to discussing opportunities for cooperation in renewable energy projects, including solar and wind energy, to reduce carbon emissions and increase energy efficiency.

The Prime Minister stressed that the government has many projects that the Bank can contribute to financing, including vital infrastructure projects such as roads, bridges and public transportation, especially in areas affected by the conflict, as well as requesting technical assistance from the Bank to strengthen and develop the banking sector in Iraq, pointing out the importance of the Bank President visiting Iraq to explore potential opportunities for cooperation.

During the meeting, it was proposed to establish a joint working group to determine the priorities of the projects in which the European Bank for Reconstruction and Development will participate in Iraq, according to the statement.  link

Mot: .... Things that Keep Me up at Night!!! -- ssiiigghhhhhh!!! 

Mot: .... Just aSaying I Is!!! 

MilitiaMan & Crew Iraq Dinar News-Global Investment-United Kingdom-Central Bank Iraq-FOREX-10 Strong Currencies

MilitiaMan & Crew Iraq Dinar News-Global Investment-United Kingdom-Central Bank Iraq-FOREX-10 Strong Currencies

1-16-2025

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

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

https://www.youtube.com/watch?v=LT5cOdnOBTI

Seeds of Wisdom RV and Economic Updates Thursday Evening 1-16-25

Good Evening Dinar Recaps,

DONALD TRUMP TO DESIGNATE CRYPTOCURRENCY AS A NATIONAL PRIORITY

President-elect Donald Trump plans to make cryptocurrency a “National Priority” policy upon his inauguration, according to a Bloomberg report. The incoming administration also plans on creating a crypto advisory council, giving industry insiders a voice within his administration.

The incoming president has been a strong supporter of the crypto industry since his campaign, and experts in the industry expect that to continue upon his inauguration.

Many experts expect Trump to issue executive orders on the first day of his presidency that may address issues relating to cryptocurrency. 

Among these issues include de-banking and the repeal of a controversial crypto accounting policy requiring banks holding digital assets to count them as liabilities on the bank’s own balance sheet.

Donald Trump Further Prioritizes Cryptocurrency Sector

Trump’s plan to make the crypto sector a “national priority” is the most explicit sign yet that he sees the industry as crucial to the US economy. Still under discussion for inclusion in the executive order is a directive for all government agencies to review policies about digital assets and possibly pause any litigation involving crypto, according to Bloomberg sources.

Another big part of the order may be the establishment of a Bitcoin reserve. Donald Trump is supportive of establishing this reserve with seized Bitcoin to give the country an alternative way to pay off debt. The Bitcoin Policy Institute has already drafted an order to make Bitcoin a strategic reserve asset. It would require $21 billion in investment over one year.

The US government currently holds nearly $20 billion worth of Bitcoin, confiscated as part of various investigations, according to analytics company Arkham. Bitcoin has rallied 44%, to nearly $100,000, since the November election in part on hopes that such a stockpile would be created.

“President Trump will deliver on his promise to encourage American leadership in crypto,” stated Trump transition team spokesperson Brian Hughes. Furthermore, besides Bitcoin, the President-elect is reportedly open to creating an America-first strategic reserve for cryptocurrencies like Solana (SOL) and XRP, according to a report from the New York Post.

The news will likely spur cryptocurrencies like BTC, SOL, XRP, and altcoins to surge further in the coming days. Already, Bitcoin is creeping back up to $100,000, while Solana is etching closer to a new all-time high in the next month.

@ Newshounds News™

Source:  Watcher Guru

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TRUMP’S POTENTIAL TREASURY SECRETARY PICK ‘SEES NO REASON’ FOR US CBDC

The president-elect cannot officially nominate anyone until after he is inaugurated on Jan. 20, but the US Senate has been holding hearings to question his potential picks.

Scott Bessent, US President-elect Donald Trump’s anticipated pick for the country’s Treasury secretary, faced Senators in a hearing to explain his positions on financial issues.

In a Jan. 16 hearing of the US Senate Committee on Finance, Bessent responded to questions from Republican Senator Marsha Blackburn regarding a US central bank digital currency (CBDC).

The Tennessee lawmaker brought up Chinese officials introducing a digital yuan to foreign attendees at the 2022 Olympics and asked how Bessent could handle a potential digital dollar if officially nominated and confirmed in the Senate.

“I see no reason for the US to have a central bank digital currency,” said Bessent. “In my mind, a central bank digital currency is for countries who have no other investment alternatives. [...] Many of these countries are doing it out of necessity, whereas the US — if you hold US dollars, you can hold a variety of very secure US assets.”

The hearing noted that Bessent’s questioning was based on his “anticipated” nomination by Trump to be the next Treasury secretary, as the president-elect is not scheduled to be inaugurated until Jan. 20.

A former partner at the hedge firm Soros Fund Management and a donor to Trump’s campaign, Bessent reportedly made several statements suggesting he supported the US government’s efforts to promote crypto.

Changing administrations, changing positions on CBDCs?

In 2022, US President Joe Biden issued an executive order directing the Treasury Department to research the development of a potential CBDC. Though the initiative could help with financial inclusion for Americans, many Republican lawmakers have criticized a digital dollar as potentially compromising financial privacy and national security.

As a presidential candidate, Trump promised the crypto industry there would “never be a CBDC” while he was in office.

In May, the Republican-controlled House of Representatives passed the CBDC Anti-Surveillance State Act largely along party lines. The legislation would prohibit Federal Reserve banks from issuing CBDCs directly or indirectly.

The Senate Banking Committee received the bill from the House in June 2024. It’s unclear if or when the Senate will revisit the legislation following Republicans taking control of the chamber in January.

@ Newshounds News™

Source:  CoinTelegraph

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US Banks Massaging Numbers, it all Comes Crashing Down in 2025

US Banks Massaging Numbers, it all Comes Crashing Down in 2025

Daniela Cambone : 1-15-2025

Ripple effects from store closures, rising vacancies, and mounting debt are poised to trigger a “knock-on” effect in commercial real estate loans in 2025, according to renowned economist Nomi Prins. 

In a recent episode of the “2025 Outlook Series” with Daniela Cambone on ITM Trading, Prins painted a concerning picture of the financial landscape, highlighting a confluence of factors that could destabilize the sector.

Prins, a respected American economist, author, journalist, and public speaker, didn’t mince words when discussing the vulnerabilities within the commercial real estate market. She warned of a potential chain reaction stemming from increasing store closures and rising vacancies, both of which are symptomatic of a broader economic unease fueled by mounting consumer and corporate debt.

“We’re going to see a ‘knock-on’ effect on commercial real estate loans,” Prins stated, emphasizing the interconnectedness of these issues. The core of the problem, as she sees it, lies in the increasing difficulty businesses face in maintaining profitability and solvency, which ultimately impacts their ability to fulfill their lease obligations. This, in turn, leads to vacant properties and a downward spiral in the commercial real estate market.

Beyond the immediate issues within the sector, Prins pointed to deeper structural concerns. She highlighted the exponential growth of U.S. debt and the uncertainties surrounding U.S. trade as significant headwinds that further complicate the situation. These macro-economic pressures, coupled with the ongoing challenges for businesses, are creating a perfect storm for the commercial real estate market.

Prins’s analysis paints a stark picture for the immediate future. The combination of troubled businesses, rising vacancies in commercial properties, and the unsustainable debt burdens held by both consumers and corporations creates a volatile environment susceptible to rapid shifts and potential crises.

The warnings from Prins serve as a crucial reminder of the interconnectedness of the global financial system. The issues she highlights within commercial real estate are not isolated incidents; they are indicative of broader economic vulnerabilities that require careful monitoring and potential intervention.

As we head into 2025, the potential for a “knock-on” effect from commercial real estate loans should be a significant concern for investors, policymakers, and the broader public alike. Prins’s insights underscore the need for a proactive and transparent approach to address these challenges before they escalate into a full-blown economic crisis.

 https://youtu.be/d8OtHOC5qxM

More News, Rumors and Opinions Thursday PM 1-16-2025

KTFA:

Clare: European and Gulf officials.. Baghdad to receive important leaders in the coming days

1/16/2025

Informed sources revealed on Thursday that the Iraqi capital, Baghdad, will receive important international leaders in the coming few days.

The sources told Shafaq News Agency, "Baghdad will witness a series of successive visits by the foreign ministers of France, Italy, and the European Union countries, in addition to the ministers of the countries of the region (neighboring and regional), and the Gulf countries in the coming days."

According to the sources' information, "the visit of important international leaders to Baghdad comes after the end of the Gaza and Lebanon page, and therefore the Syrian file must be discussed in detail with Iraq, and these visits will precede the Baghdad Dialogue Conference scheduled to be held next month."

The sources explained that "the ministers or representatives of those countries, specifically the major countries active in global changes, will convey their governments' visions regarding the Syrian file in parallel with the changes taking place in the region."   LINK

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Clare:  In London.. Iraq signs new memoranda of understanding with British companies in various fields

1/15/2025

Today, Wednesday, in the British capital, London, a ceremony was held to sign a number of memoranda of understanding between the Iraqi public and private sectors and a number of British companies and institutions, in a number of fields, in the presence of the Deputy Prime Ministers (Minister of Foreign Affairs and Minister of Oil).

The Iraqi Prime Minister's Office said in a statement received by Shafak News Agency that a memorandum of understanding was signed between the Ministry of Construction and Housing/General Water Department and IHS Consulting Company, in the field of providing experimental studies for the comprehensive water agreement. 

Another MoU was signed between Trade Bank of Iraq (TBI) and Standard Chartered Bank.

The ceremony witnessed the signing of a memorandum of understanding between Al-Rida Group and the British James Cubitt Company regarding Basra water.

Meanwhile, an ammonia supply contract was concluded with the British company Kibit regarding the establishment of a black urea project for the Iraqi private sector.

A memorandum of understanding was also signed with Jaguar Land Rover to open a branch of the company in Basra Governorate, as well as signing another memorandum of understanding regarding the desalination of Basra water.

While the Iraqi Noor Al Hilal Company signed a memorandum of understanding with the British company Evono Ball, regarding the establishment of chlorine and soda factories.

The Iraqi Najjah Investor Company also signed a memorandum of understanding with Inovo Pool Company regarding the supply of chlorine and soda.

In the field of scientific cooperation, a memorandum of understanding was signed in the educational aspect between Al-Mamoun University College and SOAS University of Middle Eastern Studies, to exchange missions and joint cooperation, making it the first Iraqi private university to sign an economic and academic memorandum of understanding with a reputable British university.  LINK

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Mnt Goat   Article:  “GOVERNMENT ADVISOR: ASYCUDA SYSTEM IS A VITAL TOOL FOR DEVELOPING CUSTOMS WORK AND BOOSTING INTERNATIONAL TRADE”...“WOW!”... This is another article about these future non-oil revenues...The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, reviewed on Sunday, the importance of adopting the ASYCUDA system in customs administration, noting that it reduces delays at ports and boosts international trade...Remember again that this system needs a link to FOREX currency exchange to get the most current, UpToDate rate of currencies in order to calculate the fees. They cannot “fully” implement it without this tie in.

Fnu Lnu  The budget has been passed. It was read long ago. All they are doing is reading the amendment...therefore there is no need to read the budget again...There is no significance to them NOT reading the entire budget because it isn't on the table. ONLY the amendment to the budget is on the table which is why they read it twice...This is not a noteworthy event...It is business as usual...as it should be

Us Government To Buy XRP As Reserve Asset

Economic Ninja:  1-16-2025

Us Government To Buy XRP As Reserve Asset and this is boosting XRP investors interest in XRP which is also causing the XRP price to hit higher highs and this is great XRP news.

https://www.youtube.com/watch?v=Mth8UMKumJ0

GLOBAL DEBT MARKET YIELDS IN FREEFALL! STOCK MARKET SKYROCKETS! WHAT'S NEXT?

Greg Mannarino:  1-15-2025

https://www.youtube.com/watch?v=g250JU-0UmA

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 1-16-25

Good Afternoon Dinar Recaps,

BRICS: RUSSIA & MYANMAR TO TRADE IN LOCAL CURRENCY, DITCH US DOLLAR

Myanmar’s Foreign Economic Relations Minister, Kan Zaw revealed that they are negotiating a local currency payment system with Russia. “We have been negotiating the kyat-ruble payment system to facilitate the bilateral trade.

However, the central banks of the two countries have been keeping the current series of discussions at a very low profile,” he said. The discussions will only benefit the BRICS bloc and add another feather to its de-dollarization agenda.

“Bilateral trade between the two countries will be increased through constructive dialogues at the national level by exchanging views on the potential of being able to connect with each other based on the needs of the market, resolving the difficulties encountered, and finding collaborative ways,” said Myanmar’s minister. The initiative aligns with the BRICS ideals of reducing the supply of the US dollar for global trade and transactions.

BRICS: Russia & Myanmar Look to End US Dollar Reliance, Promote Local Currency

Myanmar’s Foreign Economic Relations Minister, Kan Zaw revealed that they are negotiating a local currency payment system with Russia. “We have been negotiating the kyat-ruble payment system to facilitate the bilateral trade.

However, the central banks of the two countries have been keeping the current series of discussions at a very low profile,” he said. The discussions will only benefit the BRICS bloc and add another feather to its de-dollarization agenda.

“Bilateral trade between the two countries will be increased through constructive dialogues at the national level by exchanging views on the potential of being able to connect with each other based on the needs of the market, resolving the difficulties encountered, and finding collaborative ways,” said Myanmar’s minister. The initiative aligns with the BRICS ideals of reducing the supply of the US dollar for global trade and transactions.

In addition, BRICS members Russia and Iran will soon sign a defense deal without incorporating the US dollar. Both countries aim to use their local currencies, the rial and ruble, and not the US dollar.

Read here to know more details about the upcoming defense partnership between Russia and Iran. BRICS is advancing the de-dollarization initiative and is threatening the future prospects of the US dollar. Local currencies could take center stage in the next decade and begin to shake the roots of the US dollar.


@ Newshounds News™

Source:  Watcher Guru

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RIPPLE CEO CALLS SEC’S APPEAL ‘INSANITY’ AS LEGAL FIGHT INTENSIFIES

Ripple remains resolute as it dismisses SEC's latest appeal as groundless repetition of old arguments.

The United States Securities and Exchange Commission (SEC) has submitted its opening brief to challenge a court decision favoring Ripple.

In its Jan. 15 filing, the SEC claims that Ripple’s XRP sales to retail buyers should be classified as unregistered securities transactions.

According to the SEC:

“The district court erred both factually and legally in concluding that defendants’ offers and sales of XRP to public buyers who purchased on crypto asset trading platforms—including retail investors—and Ripple’s offers and sales of XRP for which Ripple received non-cash consideration were not offers and sales of investment contracts.”

The financial regulator also argued that Ripple’s activities fostered profit expectations among buyers, satisfying the criteria for an investment contract under the Howey Test.

Considering this, the financial regulator requested that the Appeals Court vacate the lower court’s erroneous ruling.

The SEC’s appeal follows its partial defeat in July 2023 when Judge Analisa Torres ruled that only XRP sales to institutional investors qualified as securities. The court concluded that sales to retail investors did not violate US federal securities laws, prompting the SEC to seek a reversal of this outcome.

The case began in December 2020 and ended with Ripple fined $125 million in August 2024. However, the SEC’s appeal has added further complexities to the ongoing legal battle.

Ripple’s response

Ripple’s Chief Legal Officer, Stuart Alderoty, has dismissed the SEC’s appeal as a repetition of arguments that have already failed in court.

Alderoty emphasized that Ripple remains resilient, viewing the SEC’s actions as an obstacle to broader regulatory clarity. He stated that the company would respond formally to the brief while continuing to focus on growth in a changing regulatory environment.

He added:

“The SEC’s lawsuit is just noise. A new era of pro-innovation regulation is coming, and Ripple is thriving.”

Ripple CEO Brad Garlinghouse also echoed this sentiment, saying:

“[The SEC’s brief is] one definition of insanity…. Doing the same thing over and over and expecting different results. Gensler’s SEC really took this to heart.”

@ Newshounds News™

Source:  CryptoSlate

~~~~~~~~~

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Ben Stein: 5 Ways You’ll Destroy Your Financial Health

Ben Stein: 5 Ways You’ll Destroy Your Financial Health

Peter Burns   Wed, January 15, 2025   GOBankingRates

From maxing out your credit cards to financing a house you can’t afford, there are many things you can do to decimate your savings and derail your financial future. Personal finance expert and author Ben Stein kept track of the best ways to do just that.

In a fun twist of the financial improvement genre, Stein’s book, “How To Ruin Your Financial Life,” details the different ways you can bankrupt yourself through poor choices. Here are some bad decisions that will lead to financial instability.

Don’t Educate Yourself

It’s no secret that personal finance isn’t a priority in schools. In 2024, only 26 states in the U.S. required a personal finance course for all high schoolers, up from just eight states in 2020. If you’re hoping to remain in financial turmoil for your entire life, Stein suggests not making any attempt to educate yourself and improve your financial practices.

On the other hand, taking the initiative to learn about personal finance will lead to financial independence, less stress and better decisions. Following finance blogs, listening to podcasts, taking online courses and reading books can all help you better understand how money works and how it can work for you.

Keep Up With the Joneses

One of the easiest ways to negatively affect your financial health is by comparing yourself to others. Purchasing things to impress others often results in living beyond your means. Stein explains that spending more than you earn is an unsustainable practice that will drive you to debt.

You will never have to look far to find someone with a more expensive car, a bigger house or the newest gadget. Shifting your mindset toward achieving financial goals that improve your life instead of focusing on outspending your friends, colleagues and neighbors will make you happier in the long run.

Use Credit Cards as Much as Possible

TO READ MORE:  https://www.yahoo.com/finance/news/ben-stein-5-ways-ll-190110626.html

The 10 most powerful currencies in the world.. Arab countries top the list

KTFA:

Clare: The 10 most powerful currencies in the world.. Arab countries top the list

1/16/2025

The strength of the currency is an important indicator of the health of the national economy, political stability, and the financial policies followed.

While many factors influence the value of currencies, sustained economic performance and institutional stability often determine a currency's standing in global markets.

Understanding these dynamics is essential for investors who trade the foreign exchange market and analyze international financial trends.

The Bankrate website monitored, in a report reviewed by Al Arabiya Business, a list of the strongest currencies in the world.

1- Kuwaiti Dinar

The Kuwaiti Dinar is currently the strongest currency in the world, with traders getting 0.31 Kuwaiti Dinars for every US Dollar.

It is worth noting that Kuwait has about 7% of the world's oil reserves, which greatly supports the value of its currency.

2- Bahraini Dinar

The Bahraini Dinar is the second strongest currency in the world, with traders getting 0.38 Bahraini Dinars for every US Dollar.

Bahrain is an oil-rich country, which contributes significantly to the strength of its currency, and the attractive investment environment enhances the stability of the Bahraini dinar.

3- Omani Rial

The Omani Rial is the third strongest currency, with traders getting 0.39 Omani Rial per US Dollar.

Oman has been producing more than 1 million barrels of oil per day since the 1960s, boosting the value of its currency.

4- Jordanian Dinar

The Jordanian Dinar is a strong currency, ranking fourth, with traders getting 0.71 Jordanian Dinars for every US Dollar.

Although Jordan does not have huge oil reserves, its diverse resources such as minerals contribute to the strength of its currency.

5- British pound

The British pound is the fifth strongest currency in the world, with traders getting 0.82 pounds to the US dollar.

Sterling's long history and economic stability, as well as London's stability as a global financial centre, are factors contributing to its strength.

6- Gibraltar pound

The Gibraltar pound is pegged to the British pound in value, with traders receiving 0.82 Gibraltar pounds to the US dollar.

This currency is strongly linked to the pound sterling, along with Gibraltar's thriving tourism and financial sector, which boosts its value.

7- Cayman Islands Dollar

The Cayman Islands dollar ranks seventh, with traders getting 0.83 Cayman dollars to the US dollar.

The Cayman Islands' favourable tax regime, which lacks direct taxes, contributes to the strength of the currency, as well as the high economic activity.

8- Swiss Franc

The Swiss franc is the eighth most powerful currency in the world, with traders getting 0.92 Swiss francs per US dollar.

The Swiss franc is known as a safe haven for investors in times of international crises, as well as the stability of Swiss monetary policy.

9- Euro

The Euro is the ninth most powerful currency in the world, with traders getting 0.98 Euros per US Dollar.

The euro is used in 20 EU countries, which strengthens its strength, along with the presence of economically strong countries such as Germany and Spain.

10- US Dollar

Despite its global dominance, the US dollar is the tenth most powerful currency.

Since the end of World War II, the dollar has become the world's premier reserve currency, allowing the United States to borrow at low interest rates.

While the Kuwaiti dinar is the strongest currency, the Swiss franc is considered one of the most stable currencies thanks to Switzerland's political neutrality, low debt-to-GDP ratio, and conservative monetary policy.   LINK

Markets are at Peak Financial Risk-Financial Reset Coming?

Markets are at Peak Financial Risk-Financial Reset Coming?

Wealthion:  1-16-2025

Is the financial system teetering on the edge?

Chris Vermeulen, Founder and CIO of The Technical Traders, believes we might be. In a recent, eye-opening interview with James Connor on Wealthion, Vermeulen makes a compelling case that we are at or near “peak financial risk,” highlighting a confluence of factors that could lead to significant market turmoil.

 Vermeulen’s analysis, packed with charts and data, paints a picture of a system stretched to its limits, facing challenges across various asset classes.

Vermeulen argues that the market is currently in a “topping phase,” a period characterized by excessive optimism and potentially unsustainable price levels. He suggests that years of easy monetary policy and low interest rates have fueled asset bubbles, particularly in sectors like tech stocks. This exuberance, he contends, is a classic sign that a correction may be on the horizon.

One of the most alarming points Vermeulen raises is the potential for a real estate collapse to trigger a wider financial meltdown. He points to imbalances in the market, such as oversupply in certain areas and the impact of rapidly rising interest rates.

These steep rate increases make mortgages more expensive, potentially leading to defaults and a price correction that could ripple through the entire financial system. This echoes the circumstances that led to the 2008 financial crisis, raising concerns about history repeating itself.

Vermeulen isn’t shy about suggesting that a financial reset, in some form, may be unavoidable.

He emphasizes the interconnectedness of the global financial system and how the current imbalances could unwind in a disorderly fashion. This isn’t necessarily a prediction of doom and gloom, but rather a sober assessment of the challenges the system is facing.

Chris Vermeulen’s analysis provides a stark warning about the potential for significant market volatility and the risks facing various asset classes. His view that we are at or near “peak financial risk” is supported by his analysis of rising interest rates, real estate imbalances, and overbought markets.

While a financial reset may be daunting, Vermeulen’s insights and risk management strategies offer a roadmap for investors to navigate the potentially turbulent times ahead. He encourages investors to be proactive, informed, and disciplined in protecting their capital.

https://youtu.be/WNB9JUd5uo0