News — Dinar Recaps Blog Page — Dinar Recaps (2024)

Iraq Economic News and Points To Ponder Late Sunday Evening 6-2-24

A Decline In Iraq's Oil Exports To The United States During The Past Week

Economy | 06/02/2024 The US Energy Information Administration announced on Sunday that Iraq's oil exports to America had declined over the past week.

The administration said in a table seen by Mawazine News, that “the average US imports of crude oil during the past week from 9 major countries amounted to 5 million and 467 thousand barrels per day, an increase of 226 thousand barrels per day compared to the previous week, which amounted to 5 million and 241 thousand.” barrels per day.

She added, "Iraq's oil exports amounted to 233,000 barrels per day last week, down by 6,000 barrels per day from the previous week, which amounted to 239,000 barrels per day."

She confirmed that "most of America's oil revenues came from Canada at an average of 3.666 million barrels per day, followed by Mexico with an average of 551 thousand barrels per day, followed by Saudi Arabia with an average of 422 thousand barrels per day, and from Libya at an average of 262 thousand barrels per day."

She explained, "The amount of American imports of crude oil, from Brazil, was at a rate of 127 thousand barrels per day, from Ecuador at a rate of 103 thousand barrels per day, from Nigeria at a rate of 71 thousand barrels per day, and from Colombia at a rate of 32 thousand barrels per day."

https://www.mawazin.net/Details.aspx?jimare=249007

Today...The Central Bank Sells $281 Million In The Currency Auction

Political | 06/02/2024 Baghdad - Mawazine News The Central Bank’s dollar sales rose today, Sunday, to more than $281 million in the currency auction.

The Central Bank sold in its auction today 281 million and 584 thousand and 592 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 261 million and 74 thousand and 592 dollars, an increase of 92% over cash sales of 20 million and 510 thousand dollars. https://www.mawazin.net/Details.aspx?jimare=249027

Judiciary: Committed To Combating Corruption

Economy Sunday, June 2, 2024 5:20 PM Baghdad/National News Center The Supreme Judicial Council Announced Judge Najm Abdullah Ahmed, Chief Public Prosecutor, said in a speech he delivered during the conference “The Judicial System in Iraq and Major Corruption Cases,” which was organized with the support of the United Nations Development Program and the European Union, that “Iraq is keen to implement the national anti-corruption strategy, with the aim of building A fair and transparent society, and enhancing citizen confidence in national institutions through a policy that seeks to uncover negative phenomena and activate a societal culture that rejects corruption.”

He added that “the efforts of the United Nations Development Program had a prominent impact in supporting Iraq’s efforts to combat corruption by holding seminars and workshops and providing recommendations and consultations, in line with the requirements of the United Nations Convention against Corruption,” noting that “the first report of the program to follow up on trials of corruption cases Strengthening arbitration reflects this trend.”

He explained that “the report came as a result of an intensive effort by a specialized team, based on scientific foundations in data collection and auditing, pointing to the achievements achieved by the courts specialized in corruption cases, and identifying the obstacles facing the investigative authorities, which constitute an obstacle to construction and progress.”

He pointed out that “the Supreme Judicial Council took a number of steps, including forming courts specialized in corruption cases in the investigation and trial stages, and coordinating with the Integrity Commission to prepare a comprehensive database,” pointing to “organizing training courses for public prosecution employees in all appellate areas to improve their performance in Completing investigations into corruption cases.

He stressed that “the report indicated a shortage in the number of judges, which prompted the Council to accept more than one course at the Judicial Institute to graduate judges and prosecutors,” adding that “despite the commitment of the United Nations Convention against Corruption to provide legal assistance and extradite defendants, some countries It does not respond for various reasons, which complicates the recovery of smuggled funds outside Iraq.”

He indicated that “the Public Prosecution held a series of meetings to prepare a mechanism that encourages countries to recover funds,” praising the measures of the Iraqi authorities in combating money laundering and terrorist financing, which won the approval of the Financial Action Organization for the Middle East and North Africa countries, which indicates the possibility of Iraq’s exit from... Gray list of high-risk countries.

Judge Najm Abdullah concluded his speech by emphasizing that “all observations and recommendations contained in the report will be of interest to the Supreme Judicial Council, and coordination will be made with the relevant government agencies to implement them.” https://nnciraq.com/256883/

Planning: The Pilot Census Is Witnessing A Great Response From Citizens

Posted On06-02-2024 By Sotaliraq The Ministry of Planning announced that a 98% participation rate was recorded in the first two days of the experimental population census, which will last 14 days, stressing that these numbers confirm that it will be very successful as a result of the large response from citizens.

The Executive Director General of the General Population Census, Ali Erian, said, “The experimental census was initiated, which is the first nucleus for moving forward with the implementation of the General Population and Housing Census in November 2024, as all indicators were good and proceeded with a normal flow.”

He added, “The experimental census is a miniature of next year’s census, as in this stage we targeted 84 areas, including 44 areas in the lockdown and 40 areas in the countryside across Iraq, and more than 600 male and female researchers participated in it.”

He pointed out, “There is a great response from citizens, whether in lockdown or in the countryside, to conduct the population census, and it far exceeds international countries,” stressing that “the response rate reached 98 percent.”

Yesterday, Friday, the Ministry of Planning announced the launch of experimental census activities throughout Iraq. LINK

Al-Sudani Chairs A Special Meeting For The Industrial Project Financing Initiative

Sunday 02, June 2024 | Economical Number of readings: 229 Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani chaired a special meeting on the initiative to finance industrial projects./End H https://ninanews.com/Website/News/Details?Key=1130197

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

ProvokingThoughts and Points To Ponder on Failures and Mistakes

Apparent failure may hold in its rough shell the germs of a success that will blossom in time, and bear fruit throughout eternity.-Frances Ellen Watkins Harper

The causes of mistakes are "I didn't know"; "I didn't think"; and "I didn't care."-Henry H. Buckley

Failures are divided into two classes: those who thought and never did, and those who did and never thought.-John Charles Salak

A failure establishes only this, that our determination to succeed was not strong enough.-Christian Bovee

Self-distrust is the cause of most of our failures. They are the weakest, however strong, who have no faith in themselves or their own powers.-Christian Bovee

Defeat is a thing of weariness, of incoherence, of boredom.-Antoine de Saint-Exupery

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.htm

Goldilocks' Comments and Global Economic News Sunday Evening 6-2-24

Good evening Dinar Recaps,

© Goldilocks

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We should see a lot of legislative bodies here in the United States and abroad get very active this month regulating and moving virtual assets into law inside the new Global Digital Economy.

© Goldilocks

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Chairman of the Finance Committee: We are ready to present the final report on the budget schedules |Iraqi News Agency

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How AI is Paving the Way for a New Era in Financial Services -The Global Treasurer

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Mastercard and HSBC Middle East accelerate travel payment innovation through bank’s first wholesale travel program |Mastercard

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In the Face of Unrelenting Change, Corporations Embrace Innovation and Leadership |The Global Treasurer

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US unveils policy to boost carbon offset market integrity |Reuters

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As society accelerates its decarbonization journey, the resource inputs necessary for this energy transition are appreciating in value. This article will spotlight the pivotal role of copper in this transition and the ETF solutions that enable investors to tap into this burgeoning market. |ETF Market

👆 Goldilocks pointed to this article

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Iraqi News Highlights and Points to Ponder Sunday AM 6-2-24

Parliamentary Praise For The Current Year’s Budget: The Best Since 2003

Money and business Economy News – Baghdad Chairman of the Parliamentary Services and Reconstruction Committee, Representative Ali Jassim Al-Hamidawi, confirmed that the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that allocations to the governorates in the 2024 budget have not been reduced, but rather they are the best since 2003.

Al-Hamidawi stated in a brief statement, followed by Al-Iqtisad News, that “the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that the allocations to the governorates in the 2024 budget have not been reduced, but rather they are the best since 2003.”

He added, "The budget includes promising service projects for the governorates," pointing out that "members of the House of Representatives will vote on Monday on the schedules to launch a new phase of services and construction in the government of achievements." 102 views 06/02/2024 https://economy-news.net/content.php?id=4393

A Final Meeting Of The Parliamentary Finance Committee To Complete The Budget Law Schedules Report

Sunday 02, June 2024 13:20 | Economical Number of readings: 181 Baghdad / NINA / Today, Sunday, the Parliamentary Finance Committee held a final meeting to put the final touches on its report on the general budget schedules.

Since last week, the committee has continued its periodic meetings in the Guest House building of the General Secretariat of the Council of Ministers, to discuss the general budget schedules, leading to the preparation of the final report that will be presented in tomorrow’s session, Monday, which the Presidency of the House of Representatives decided to allocate for voting on the schedules of General Budget Law No. 13. For the amended year 2024 and its annexes, Tables A/B/C/D/E/F./End 5

https://ninanews.com/Website/News/Details?key=1130151

Parliament Holds A Session To Vote On The 2024 Budget Schedules

Iraq 2024-06-02 The House of Representatives is scheduled to hold its regular session, tomorrow, Monday, to vote on the schedules of Federal Budget Law No. 13 for the year 2024 and its annexes.

The representative of the Patriotic Union of Kurdistan bloc, Dr. Briar Rashid, told PUKMEDIA: The House of Representatives has postponed its legislative recess to vote on the federal budget schedules for the year 2024.

He added: There is pressure from Federal Prime Minister Muhammad Shia al-Sudani and some political parties to vote on the budget schedules so as not to disrupt government affairs. Federal and continuing to provide services to citizens.

He explained: Voting on the budget tables requires the presence and voting of 165 deputies, and the government needs to vote on these tables, so it wants to speed up the vote on them.

Representative Briar Rashid continued: The House of Representatives will hold its regular session at exactly three o’clock in the afternoon tomorrow, Monday, to vote on the schedules of the Federal Budget Law for the year 2024. https://kirkuktv.net/AR/Details/21071

Deputy: The Budget Does Not Contain Appointments And Contains Taxes On Electricity And High Gasoline Prices

Policy 06-02-2024 | 2,828 views Alsumaria News – Politics Member of the Legal Committee in the House of Representatives, Raed Al-Maliki, revealed today, Sunday, that the budget tables sent from the Council of Ministers to the House of Representatives are devoid of new appointments, noting that they contain large taxes on electricity supply as well as a “possible” rise in gasoline prices. .

Al-Maliki said in an interview with: Alsumaria News “The budget tables sent by the government do not contain any new appointments and there are no increases for any societal or functional segments,” indicating that the tables received from the government only contain changes in terms of allocations to ministries, and allocations allocated to the region.Kurdistan".

Al-Maliki added, "The schedules also contained some amendments related to financing methods," adding, "These have a major negative impact on the citizen, including imposing fees and taxes on the electricity sector, by imposing high taxes."

Al-Maliki pointed out, “The tables also included a very significant increase in the selling prices of crude oil to refinery companies, and this will lead to the refineries having two options: either to bear the loss and be loss-making companies, or to transfer the burden of additional costs to oil product distribution companies.” And companies distributing petroleum products, in turn, can transfer them to citizens and raise gasoline prices.” LINK

Iraq Participates In The OPEC+ Coalition Meeting In Saudi Arabia

Time: 06/02/2024 Read: 585 times {Economic: Al-Furat News} Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani participates in the OPEC+ alliance meeting, which begins its work in Saudi Arabia today.

Al-Hayani’s media office stated in a statement received by {Al-Furat News}, “The meeting discusses developments in the oil market, a general assessment of OPEC+’s actions over the past, and future expectations.” LINK

The Governorates’ Shares In The Budget Are Up In The Air, And The Blocs Are Trying To Rectify The Matter

Information / Baghdad... Although the federal budget was approved for three years 2023-2024-2025; However, the schedules for each budget always raise controversy between the governorates and the Ministry of Finance.

Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..

This is what actually happened when the 2024 budget schedules arrived in the corridors of the House of Representatives.

Today, Sunday, the Parliamentary Finance Committee held a final meeting to put the final touches on its report on the general budget schedules.

A statement by the committee received by “Al-Ma’louma” stated that, since last week, the committee has been continuing its regular meetings in the guest house building of the General Secretariat of the Council of Ministers, to discuss the general budget schedules, leading to the preparation of the final report that will be presented in tomorrow’s session, Monday.”

He touched on the decision of the Presidency of the House of Representatives to allocate tomorrow’s session, Monday, to vote on the amended schedules of General Budget Law No. 13 of 2024 and its annexes, Schedules “A/B/C/D/E/F.”

In the meantime, the media department of the House of Representatives announced the agenda for tomorrow’s session, Monday, which includes voting on the amended schedules of Federal Budget Law No. (13) of 2024.

The 2024 budget schedules angered many representatives due to the reduction in the budgets of the central and southern governorates.

Representative Wafaa Al-Shammari confirmed that the central and southern governorates were subjected to great injustice in the current year’s budget that the government sent to the House of Representatives.

Al-Shammari told Al-Maalouma, “The bulk of building the Iraqi economy falls on the central and southern governorates,” explaining, “These governorates are the ones who finance the state treasury through their oil fields, but despite that, they suffer injustice.”

She added, "What was allocated to the central and southern governorates in the budget tables is very weak and does not match their need to sustain projects," noting that "instead of doing justice to these governorates, the government reduced their budgets and increased the Kurdistan region's budget."

In addition, member of the Parliamentary Services Committee, Mahdia Al-Lami, said today, Sunday, that the financial allocations to all governorates are not commensurate with the size of the service problems.

Al-Lami told Al-Maalouma that the governorate allocations in the 2024 schedules differ from the 2023 allocations, indicating that the percentage of infrastructure completion in some governorates does not exceed 6%.

She added, "The government is supposed to increase financial allocations to all governorates instead of reducing them."

She continued, "Budget allocations threaten service projects in all Iraqi governorates."

According to these objections, there are two trends within the House of Representatives, which will not be ignored by political discussions, after the completion of professional discussions related to the Finance Committee and the government.

First: There is a tendency in the House of Representatives to hold consensus discussions between the large blocs before voting on them.

Second: The budget is presented without agreeing on it.

The weight is based on consensus between the political blocs and finding agreed-upon formulas to give the central and southern governorates part of the reinforcements to their budgets.

However, even if the political blocs agree, these reinforcements will not meet the needs of these governorates. LINK

Provoking Thoughts and Points to Ponder on Advice :

But one must know where one stands, and where the others wish to go.-Goethe

No man ever listened himself out of a job.-Calvin Coolidge

Thanksgiving comes after Christmas.-Peter Kreeft

The proverb warns that, "You should not bite the hand that feeds you." But maybe you should, if it prevents you from feeding yourself.-Thomas Szasz

I remember my father telling me the story of the preacher delivering an exhortation to his flock, and as he reached the climax of his exhortation, a man in the front row got up and said, 'O Lord, use me. Use me, O Lord - in an advisory capacity!'-Adlai Stevenson

http://famousquotesandauthors.com/topics/advice_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

TNT:

CandyKisses: Parliamentary praise for this year's budget: the best since 2003

Economy News - Baghdad

The Chairman of the Parliamentary Services and Reconstruction Committee, MP Ali Jassim Al-Hamidawi, confirmed that the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that the governorates' allocations in the 2024 budget are not reduced, but are the best since 2003.

Al-Hamidawi said in a brief statement, followed by "Economy News", that "the reports prepared by the parliamentary finance committee after studying the tables sent by the government confirm that the allocations of the governorates in the 2024 budget are not reduced, but rather the best since 2003."

He added, "The budget includes promising service projects for the provinces," pointing out that "members of the House of Representatives will vote on Monday on the tables to launch a new phase of services and ages in the government of achievements."

Tishwash: Before submitting it to a vote...a final meeting for the 2024 budget in the corridors of Parliament today

Deputy Chairman of the Finance Committee in Parliament, MP Ahmed Mazhar Al-Jubouri, revealed today, Sunday, an expected final meeting of the committee to resolve the 2024 budget schedules, before submitting them to a vote within the Council.

Al-Jubouri said, “The powers and directions may not allow us to make amendments to the budget tables, and this may dispel the dream of many who are waiting to make amendments to them, including appointments or governorate rights, etc., and it may be difficult to change a single letter in the tables.”

He added, “The committee will open the schedules today and will discuss the possibility of making amendments to them or passing them according to the texts that reached Parliament from the government,” indicating that today’s meeting will decide whether the schedules will be passed in tomorrow’s session or moved until after Eid al-Adha.

Al-Jubouri said, “The committee members’ orientations are with the rights of citizens, but we are waiting for today’s meeting to discuss the possibility of amending them according to the necessary requirements.”

The House of Representatives had allocated its session tomorrow, Monday, as a date to vote on the federal financial budget tables, at a time when the Parliamentary Finance Committee announced, yesterday, Saturday (June 1, 2024), the near end of its work on the federal financial budget tables for the year 2024. link

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Tishwash: Al-Aboudi: The decision to end UNAMI’s mission in Iraq is a big step towards full sovereignty

Member of the General Authority of the National Wisdom Movement, Rahim Al-Aboudi, considered the decision to end UNAMI’s mission in Iraq a big step to prove complete sovereignty.

Yesterday, Friday, the UN Security Council decided to withdraw the United Nations Assistance Mission for Iraq (UNAMI), which has been in the country for more than 20 years, by the end of 2025, at the request of Baghdad.

The unanimously adopted resolution stipulates extending the mandate of the mission, which was established in 2003, “for a final period of 19 months until January 31, 2025.”

The Iraqi government welcomed the UN Security Council's decision to end the mandate and tasks of the United Nations Assistance Mission for Iraq. link

Goldilocks' Comments and Global Economic News Saturday Afternoon 6-1-24

Good evening Dinar Recaps,

This lack of liquidity has reached its tipping point. And now, we have reached a contracting phase in the markets. It appears that old money has reached its limits.

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BREAKING NEWS IRAQ Trouble |Youtube

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The race toward instant payments has now begun. The new MICA regulations have set everything in motion. |The Paypers

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Russian Commodity Companies Using Stablecoins To Settle With Chinese Counterparts: Report |Daily Hodl

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Fed’s Wait-and-See on Rate Cuts Supported by Worst 6-Month “Core” & “Core Services” PCE Inflation since mid-2023 |Wolf Street

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The UK recently conducted aconsultationabout itsDigital Securities Sandbox(DSS), which eases legal requirements for central securities depositories. The aim is to enable tokenization initiatives to issue, trade and settle digital securities. |Ledger Insights

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BIS shares how Project Agorá aims to tokenize correspondent banking -Ledger Insights - blockchain

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First Green Security Token Offering for New Energy Vehicles Charging Network in Hong Kong -The Tokenizer

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The call will be recorded and you can find it in theArchive Call Roomafter the call is over.

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Follow Goldilocks'Roadmap

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TNT:

CandyKisses: Al-Sayhood: The UN Security Council vote to end the work of UNAMI is a historic victory for Iraq, its people and its government

Saturday 01, June 24

CandyKisses: Iraq announces the arrival of approximately 24,400 pilgrims to the Holy Land so far

Economy News - Baghdad

Today, Friday, the Supreme Commission for Hajj and Umrah counted Iraqi pilgrims traveling by land and air to the Holy Land, while confirming the existence of coordination with the Central Bank and banks to sell dollars to pilgrims at the official rate

"The voyage process is continuing, whether by air through Baghdad, Najaf, Basra, Erbil, Sulaymaniyah and Kirkuk airports to Madinah airport - Prince Mohammed bin Abdulaziz airport, directly, as well as the voyage through the Arar border crossing, where pilgrims are escorted by security forces to the Arar border crossing," said spokesman Hassan Fahd al-Kinani.

Al-Kinani added that "pilgrims pass through the city of pilgrims and Umrah performers, which was established in a record period not exceeding sixty days, and there are all the amenities that the pilgrim needs, and it contains restaurants, a bakery, a factory for the production of crystal ice, and a dream, where breakfast, lunch and dinner are served when the pilgrim stays there, and then at the Arar border crossing, where the procedures are easy and easy."

"The number of pilgrims traveling by land and air to the Holy Land has reached about 24,400, half of whom are now in Medina and the other half have moved to Mecca after visiting the Holy Prophet (peace be upon him)," he said.

Regarding coordination with the Central Bank to obtain the dollar, Al-Kinani explained that "there is coordination with the Central Bank, Al-Rasheed and Rafidain Banks, and the Hermit Bank, which has been since the beginning of the regiment in the process of exchanging dollars to pilgrims, in addition to the Iraqi Trade Bank and exchange companies, all of which are on the official website of the Commission. Any pilgrim to the Holy Land can access the official website of the Commission through social networking sites or on the official website of the Commission in order to know where to sell dollars at the official rate for for pilgrims of Baghdad and the provinces."

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TishwashL Al-Sudani: “The development road” means linking the East to Europe through Iraqi lands

He continued, saying: All indicators, economic readings and feasibility studies, say that this corridor is the least expensive and fastest among the rest of the corridors. We do not say that it is an alternative, but rather regional and international trade really needs a path of development, as it is a linking project that promotes overlap in interests and causes of economic sustainability.

He added: It is important to understand that gas investment means providing additional resources for development in Iraq, which are resources that can be invested in various promising economic rights, and these areas will be open to the participation of Turkish companies and companies of other friendly countries.

He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.
He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.

Currently, Iraq’s oil production is approximately 4 million barrels per day, according to data from the Ministry of Oil and the Organization of the Petroleum Exporting Countries (OPEC), while it imports about 25 million liters of gas oil, gasoline, and white oil daily, in addition to natural gas.

According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion link

Iraq Economic News and Points To Ponder Late Thursday Evening 6-1-24

Chairman Of The Parliamentary Security Committee: The Security Council’s Decision To Withdraw The UN Representative Restored Iraq’s Sovereignty

Saturday 01, June 2024 | Political Number of readings: 128 Baghdad / NINA / Chairman of the Security and Defense Committee, Karim Aliwi Al-Muhammadawi, confirmed the ability of the Iraqi security forces to protect the homeland’s lands and the country’s sovereignty.

Al-Muhammadawi welcomed in a statement: “The UN Security Council’s decision to withdraw the United Nations representative from Iraq and considered it a successful decision and evidence of the modern state’s policy for Iraq, after it convinced the international parties of the necessity of Iraq restoring its sovereignty once again.”

He added: “Iraq is capable of protecting itself and that its security services are on standby to protect the nation’s wall internally and externally from any international or terrorist movement or attack.”/ https://ninanews.com/Website/News/Details?key=1130010

Oil Prices Suffer A Weekly Loss Ahead Of The OPEC+ Meeting

Money and business Economy News - follow up Oil prices fell yesterday, Friday, and recorded a weekly loss, as investors focused on the OPEC+ meeting scheduled for Sunday to decide on the alliance’s production levels.

Brent crude futures for July delivery fell 24 cents, or 0.3%, to $81.62 a barrel, while August futures fell 77 cents, or 0.8%, to $81.11.

US West Texas Intermediate crude futures fell 92 cents, or 1.2%, to $76.99, according to Reuters.

Brent crude fell 0.6% over the week, while West Texas Intermediate crude lost 1%.

Markets are awaiting the OPEC+ alliance meeting scheduled to be held on Sunday, as sources told Reuters that the OPEC+ alliance is working on drafting a complex agreement that would allow some of the sharp cuts in oil production to be extended until 2025.

Data from the US Energy Information Administration showed on Friday that US crude oil production rose in March to its highest level this year, while production of fuel products, an indicator of demand, fell 0.4% to 19.9 million barrels per day.

The oil market has been under pressure in the past few weeks due to the possibility that borrowing costs will remain high for a longer period in the United States, which could harm crude oil consumption.

The two benchmark crude oils were heading towards their largest monthly decline since December, after falling in the previous session due to a sudden increase in US fuel inventories.Views 84 06/01/2024 - https://economy-news.net/content.php?id=43912

Learn About The Dollar Exchange Rates In Local Markets

Local | 06/01/2024 Baghdad - Mawazine News The exchange rates of the dollar rose today, Saturday, in local markets.

Dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 145,300 Iraqi dinars for every 100 dollars, while last Thursday prices recorded 145,150 Iraqi dinars for every 100 dollars.

Selling prices in banking shops in local markets in Baghdad stabilized, with the selling price reaching 146,250 dinars, while the purchasing price reached 144,250 dinars for every 100 dollars.

As for Erbil, the stock market does not trade on official holidays, but the dollar recorded stability in banking shops, as the selling price reached 145,000 dinars against the dollar, and the purchase price reached 144,900 dinars against 100 dollars. https://www.mawazin.net/Details.aspx?jimare=248963

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

ProvokingThoughts and Points To Ponder on Failures and Mistakes

Apparent failure may hold in its rough shell the germs of a success that will blossom in time, and bear fruit throughout eternity.-Frances Ellen Watkins Harper

The causes of mistakes are "I didn't know"; "I didn't think"; and "I didn't care."-Henry H. Buckley

Failures are divided into two classes: those who thought and never did, and those who did and never thought.-John Charles Salak

A failure establishes only this, that our determination to succeed was not strong enough.-Christian Bovee

Self-distrust is the cause of most of our failures. They are the weakest, however strong, who have no faith in themselves or their own powers.-Christian Bovee

Defeat is a thing of weariness, of incoherence, of boredom.-Antoine de Saint-Exupery

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.htm

IQD Update-Iraq Dinar-HoR under a gun - Monday 3:00 PM Baghdad Vote

MilitiaMan and Crew: 5-31-2024

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

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

https://www.youtube.com/watch?v=9efJR7LHJU4

Iraq Economic News and Points To Ponder Friday Evening 5-31-24

Parliamentary Finance Announces Its Readiness To Present The Final Report On The Budget Schedules In Next Monday’s Session

Friday 31, May 2024 | Economical Number of readings: 176 Baghdad / NINA / The Parliamentary Finance Committee confirmed its readiness to present the final report on the budget schedules in next Monday’s session.

The head of the committee, Atwan Al-Atwani, said in a statement, “His committee has been continuing for days to study and review the 2024 budget schedules, in detail, in order to complete them in the optimal manner, and to ensure the necessary financial allocations for all sectors.”

He pointed out that “a series of intensive meetings were held, which witnessed the hosting of the relevant ministers,” indicating that “the committee is about to complete the task of discussing and reviewing the details of these schedules, in a manner consistent with the federal general budget law for the years (2023-2025).”

Al-Atwani confirmed that “Parliamentary Finance is ready to present its final report to the House of Representatives in next Monday’s session designated for approving the budget schedules and its annexes.”

He pointed out that "the committee is keen to enable the federal government to implement its service and development plans and programs in a manner consistent with its government program that the House of Representatives voted on."/ https://ninanews.com/Website/News/Details?key=1129845

Al-Sudani: The Path Of Development Will Restore Iraq's Historical Role In Global Trade

Economy | 05/31/2024 Baghdad - Mawazine News Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that the development road project means, according to current market equations and international trade movement, a link between the East and Europe through Iraqi and Turkish lands together.

Al-Sudani, during an interview conducted by Anatolia Agency, said: In the beginning, we must look historically at Iraq’s role in trade between the East and the West over many centuries, and I am not exaggerating if I say that since prehistoric times, Mesopotamia has been an easy trade corridor whose paths trade caravans prefer to follow. And standing and trading with its metropolises, cities and urban centres.”

He stressed that the path of development is essentially to restore this historical role, and the link between the port of Al-Faw and the Turkish border, according to the current market equations and the international trade movement, means a link between the East and Europe through Iraqi and Turkish lands together.”

The Prime Minister of Iraq explained that the region is witnessing conflicts and tensions that recede at times and escalate at other times, and this prompts us to focus efforts on projects that overlap in interests and overlap in benefits.

He added: The Development Road will provide an opportunity for the emergence of industrial cities on both sides of it, which will complement the trade passing through it. Later this year, we will inaugurate the first berths at Al-Faw Port, and the flow of goods through the Development Road route will begin initially.”

He continued, saying: All indicators, economic readings and feasibility studies, say that this corridor is the least expensive and fastest among the rest of the corridors. We do not say that it is an alternative, but rather regional and international trade really needs a path of development, as it is a linking project that promotes overlap in interests and causes of economic sustainability.

Following President Erdogan's visit to Iraq, Turkish Minister of Transport and Infrastructure Abdulkadir Oraloglu said that with the operation of the development road, the volume of trade with Iraq will increase from $20 billion to $30-40 billion.

Regarding the future volume of bilateral trade between Turkey and Iraq, which is currently estimated at about 20 billion dollars, the Prime Minister of Iraq said: The increase in the volume of bilateral trade with Turkey can be expanded vertically, but we are seeking vertical expansion as well. In short, this is the role of the Development Road Project and the projects attached to it. “.

He added: Experience and history have proven that the progress of a country alone and in isolation from its neighbourhood, is something that carries an unknown future despite all possibilities and conflicts. Therefore, we focus on increasing the capacity of exchange and actual partnership (with Turkey) is the guarantor of stability and deep, long-term relations.

He continued: In our relationship with our Turkish brothers, we also focused on one of the most promising sectors in investment and cooperation, which is the agricultural sector, and soon we will witness practical steps in this aspect, and the participation of Turkish companies.”

Regarding investments in Iraqi gas fields, the Prime Minister of Iraq said, in his interview with Anadolu: “Gas investment is a strategic test for Iraq, and our national wealth must be optimally employed in serving our people and development plans.”

He added: It is not possible to continue burning gas, firstly due to the waste of this wealth that can be benefited from, and secondly due to the environmental effects. We announced a special round of licenses to invest in gas fields.

He continued, saying: We plan for Iraq to be self-sufficient in domestic gas production within 3 years, and Iraq is moving confidently to be an important element in the gas market within 5 years, and we will achieve self-sufficiency in this material at the expense of electricity production.

The Prime Minister of Iraq said: Specialists know that the existence of a technological base for gas investment is at the same time a base for the broadest petrochemical industries, and this is what we seek.”

Regarding potential partnerships in these investments, the Prime Minister of Iraq indicated that the doors are open to every reputable and specialized company that wishes to participate in this sector, and we also welcome regional companies because they will expand the base of cooperation in other areas.

He added: It is important to understand that gas investment means providing additional resources for development in Iraq, which are resources that can be invested in various promising economic rights, and these areas will be open to the participation of Turkish companies and companies of other friendly countries.

Iraq's current production of natural gas is about 2.7 billion cubic feet, and according to previous estimates, Iraq has a reserve of 132 trillion cubic feet of gas, of which 700 billion cubic feet were burned, as a result of the weak ability to exploit it.

Regarding the flow of Iraqi oil, the Iraqi Prime Minister explained that stopping the pumping of Iraqi oil extracted from the fields of the Kurdistan region of Iraq is undoubtedly a loss for Iraq, and at least it is the loss of an expected benefit that can support development plans in the provinces of the region and strengthen the Iraqi economy as a whole.

He added: He added: We took the initiative to find acceptable settlements and legal solutions and solutions after a thorough legal study, but the matter is surrounded by a legal obligation, because the Federal General Budget Law requires calculating the cost of producing one barrel of oil in all fields to be within the national average of the cost of production, which is around $8 per barrel, according to what was announced. Federal Ministry of Oil.

He continued: But the Ministry of Natural Resources in the Kurdistan Regional Government, and within the contracts signed with the oil company operating there, the cost of production is calculated at around $26 per barrel, and we suggested to Imam that the budget law be amended, or that the agreements and contracts with these companies be amended.”

The Prime Minister of Iraq continued, saying: From this standpoint, companies stopped production, as the ban did not come from the federal government, and we are waiting for a solution to be found. The companies refused to amend the contracts, while the regional government agreed.

He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.

He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.

Currently, Iraq’s oil production is approximately 4 million barrels per day, according to data from the Ministry of Oil and the Organization of the Petroleum Exporting Countries (OPEC), while it imports about 25 million liters of gas oil, gasoline, and white oil daily, in addition to natural gas.

According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion. https://www.mawazin.net/Details.aspx?jimare=248956

Oil Declines After A Sudden Rise In US Gasoline Stocks

Friday 31, May 2024 | Economical Number of readings: 241 Baghdad / NINA / Oil prices fell today, Friday, in the wake of a sudden rise in US gasoline inventories and amid indications that it is unlikely to start lowering interest rates.

Brent crude futures fell 12 cents, or 0.15 percent, to trade at $81.74 a barrel, and US West Texas Intermediate crude fell 17 cents, or 0.22 percent, to $77.74.

This decline in prices comes in light of statements by Lori Logan, President of the Federal Reserve Bank in Dallas, about the possibility of rising inflation despite the slowdown in the recent period, warning that the US Central Bank needs to be flexible and keep “all options on the table” while monitoring... “Data determines how to respond.”

Meanwhile, the US Energy Information Administration reported that gasoline inventories rose against expectations that demand will be higher before the weekend.

Inventories rose by two million barrels during the week, to 228.8 million barrels, compared to expectations of a decrease of 400 thousand barrels./End 2 https://ninanews.com/Website/News/Details?key=1129766

The Central Bank Announces Raising The Amounts Allocated For Housing Loans

Economy | 05/31/2024 Baghdad - Mawazine News The Central Bank announced today, Friday, raising the amounts allocated for housing loans to 3 trillion dinars.

The bank stated in a statement received by “Mawazine News”, that “based on the strategic vision and main objectives of the Central Bank of Iraq in working to promote sustainable development and prosperity and achieving well-being for citizens, the most prominent of which is the provision of adequate housing, and in a way that contributes to the growth of urban expansion and urban development,

it decided The Board of Directors of the Central Bank of Iraq issued a number of decisions that would provide additional amounts amounting to about (3) trillion dinars, which in turn will be reflected in the response to housing borrowing requests by citizens through (the Real Estate Bank and the Iraqi Housing Fund) in a facilitating manner, in support of the government’s directions in "This regard."

The statement added, “The Central Bank of Iraq directed the management of both the Real Estate Bank and the Iraqi Housing Fund to develop a well-thought-out plan for housing lending, through which it will receive requests from citizens wishing to borrow, in light of the government’s directives and in accordance with the contexts and regulations in force in each of them, taking into account Priorities in this regard, in a way that achieves the principle of justice among citizens, especially completed or under-complemented transactions.”

At the same time, the Board of Directors of the Central Bank of Iraq called on the government and the House of Representatives to provide support to the Real Estate Bank and the Iraqi Housing Fund, by allocating an annual amount within the federal general budget to enhance the capital of each of them, allowing them the opportunity to implement their policy of granting housing loans to citizens. https://www.mawazin.net/Details.aspx?jimare=248935

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

ProvokingThoughts and Points To Ponder on Failures and Mistakes

The man who has done his level best, and who is conscious that he has done his best, is a success, even though the world may write him down a failure.-B. C. Forbes

Good judgment comes from experience, and experience comes from poor judgment.-Anonymous

Life is very interesting, if you make mistakes.-Georges Carpentier

When I have listened to my mistakes, I have grown.-Hugh Prather

Mistakes and errors are the discipline through which we advance.-William Ellery Channing

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

KTFA:

Clare: Heavy security deployment near the Green Zone in Baghdad

5/31/2024

An Iraqi security source reported, on Tuesday, that security forces were deployed heavily in the vicinity of the “Green Zone” in the center of the capital, Baghdad.

The source told "Mawazine News", "Forces from the Special Division deployed near Al-Khadraa, Al-Jardiya, and Al-Dora, without knowing the reasons."

He pointed out that "the authorities have closed the gates of the Green Zone to the public, and only those holding badges (special cards for residents or workers in the area) are allowed to enter." LINK

Clare: It will be approved in a “special” session.. Parliamentary Finance: There is no intention to return the budget schedules to the government

5/30/2024

The Parliamentary Finance Committee said on Thursday that it or the House of Representatives has no intention of returning the budget schedules for 2024 to the federal government.

Committee member Hussein Moanis explained to Shafaq News Agency, “Last Monday, the Parliamentary Finance Committee hosted the Ministers of Finance and Planning to discuss many topics related to the budget schedules, including answering the questions of the committee members regarding increasing the financial allocation to the ministries and reducing the funds allocated to the governorates.”

He added, "The two ministers answered the questions that were directed to them during their hosting in the committee," noting that "the increase in financial allocation to the ministries came due to the presence of retained funds for the ministries from last year."

Mu'nis stressed that "the project funds allocated to the governorates can be disposed of this year." He pointed out that "the Parliamentary Finance Committee will work to make financial transfers from the ministries to the governorates, in addition to reducing the percentage of the deficit present in the budget tables."

A member of the Finance Committee confirmed that “there is no intention to return the budget schedules to the government, and that the House of Representatives will discuss the budget law schedules and then they will be approved in a special session.”

The day before yesterday, Tuesday, the coordination framework stressed, during a meeting attended by Prime Minister Muhammad Shiaa Al-Sudani, the necessity of approving the budget schedules to achieve the interests of citizens and support the economic situation.

The 2024 budget, according to what Prime Minister Muhammad Shiaa Al-Sudani announced yesterday, Sunday, amounts to 211 trillion dinars, and employee salaries for the year 2024 amount to 62 trillion dinars, while the 2023 budget amounted to 199 trillion dinars and employee salaries amounted to 59 trillion dinars.

According to Al-Sudani, the revenues of the 2024 budget are estimated at “144 trillion and 336 billion dinars, while expenditures amount to 210 trillion and 936 billion dinars, while the deficit is 63 trillion and 599 billion dinars.” LINK

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

Clare: Parliamentary Finance confirms the readiness of the budget tables for voting in Monday’s session

5/31/2024

The Parliamentary Finance Committee announced its readiness to present the federal financial budget schedules for the year 2024 in the Parliament session next Monday.

The head of the committee, Atwan Al-Atwani, said in a statement, a copy of which {Al-Furat News} received, “For days, the committee has continued to study and review the 2024 budget schedules, in detail, in order to complete them in the optimal manner, and to ensure the necessary financial allocations for all sectors,” adding, “After a series of meetings Intensive, during which we hosted the relevant ministers, today we are about to complete the task of discussing and reviewing the details of these schedules, in accordance with the Federal General Budget Law for the years (2023-2024).”

Al-Atwani continued, “The Finance Committee confirms its readiness to present its final report to the House of Representatives in next Monday’s session dedicated to approving the budget schedules and its annexes,” reiterating “the great keenness to enable the federal government to implement its service and development plans and programs in a manner consistent with its government program that the House of Representatives voted on.” We also affirm our full support for local governments, by increasing their financial allocations and ensuring the continuity of funding for projects with the aim of improving the reality of services in all governorates.” LINK

Clare: Al-Sudani: The path of development will restore Iraq's historical role in global trade

5/31/2024

Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that the development road project means, according to current market equations and international trade movement, a link between the East and Europe through Iraqi and Turkish lands together.

Al-Sudani, during an interview conducted by Anatolia Agency, said: In the beginning, we must look historically at Iraq’s role in trade between the East and the West over many centuries, and I am not exaggerating if I say that since prehistoric times, Mesopotamia has been an easy trade corridor whose paths trade caravans prefer to follow. And standing and trading with its metropolises, cities and urban centres.”

He stressed that the path of development is essentially to restore this historical role, and the link between the port of Al-Faw and the Turkish border, according to the current market equations and the international trade movement, means a link between the East and Europe through Iraqi and Turkish lands together.”

The Prime Minister of Iraq explained that the region is witnessing conflicts and tensions that recede at times and escalate at other times, and this prompts us to focus efforts on projects that overlap in interests and overlap in benefits.

He added: The Development Road will provide an opportunity for the emergence of industrial cities on both sides of it, which will complement the trade passing through it. Later this year, we will inaugurate the first berths at Al-Faw Port, and the flow of goods through the Development Road route will begin initially.”

He continued, saying: All indicators, economic readings and feasibility studies, say that this corridor is the least expensive and fastest among the rest of the corridors. We do not say that it is an alternative, but rather regional and international trade really needs a path of development, as it is a linking project that promotes overlap in interests and causes of economic sustainability.

Following President Erdogan's visit to Iraq, Turkish Minister of Transport and Infrastructure Abdulkadir Oraloglu said that with the operation of the development road, the volume of trade with Iraq will increase from $20 billion to $30-40 billion.

Regarding the future volume of bilateral trade between Turkey and Iraq, which is currently estimated at about 20 billion dollars, the Prime Minister of Iraq said: The increase in the volume of bilateral trade with Turkey can be expanded vertically, but we are seeking vertical expansion as well. In short, this is the role of the Development Road Project and the projects attached to it. “.

He added: Experience and history have proven that the progress of a country alone and in isolation from its neighbourhood, is something that carries an unknown future despite all possibilities and conflicts. Therefore, we focus on increasing the capacity of exchange and actual partnership (with Turkey) is the guarantor of stability and deep, long-term relations.
He continued: In our relationship with our Turkish brothers, we also focused on one of the most promising sectors in investment and cooperation, which is the agricultural sector, and soon we will witness practical steps in this aspect, and the participation of Turkish companies.”

Regarding investments in Iraqi gas fields, the Prime Minister of Iraq said, in his interview with Anadolu: “Gas investment is a strategic test for Iraq, and our national wealth must be optimally employed in serving our people and development plans.”
He added: It is not possible to continue burning gas, firstly due to the waste of this wealth that can be benefited from, and secondly due to the environmental effects. We announced a special round of licenses to invest in gas fields.

He continued, saying: We plan for Iraq to be self-sufficient in domestic gas production within 3 years, and Iraq is moving confidently to be an important element in the gas market within 5 years, and we will achieve self-sufficiency in this material at the expense of electricity production.

The Prime Minister of Iraq said: Specialists know that the existence of a technological base for gas investment is at the same time a base for the broadest petrochemical industries, and this is what we seek.”

Regarding potential partnerships in these investments, the Prime Minister of Iraq indicated that the doors are open to every reputable and specialized company that wishes to participate in this sector, and we also welcome regional companies because they will expand the base of cooperation in other areas.

He added: It is important to understand that gas investment means providing additional resources for development in Iraq, which are resources that can be invested in various promising economic rights, and these areas will be open to the participation of Turkish companies and companies of other friendly countries.

Iraq's current production of natural gas is about 2.7 billion cubic feet, and according to previous estimates, Iraq has a reserve of 132 trillion cubic feet of gas, of which 700 billion cubic feet were burned, as a result of the weak ability to exploit it.

Regarding the flow of Iraqi oil, the Iraqi Prime Minister explained that stopping the pumping of Iraqi oil extracted from the fields of the Kurdistan region of Iraq is undoubtedly a loss for Iraq, and at least it is the loss of an expected benefit that can support development plans in the provinces of the region and strengthen the Iraqi economy as a whole.

He added: He added: We took the initiative to find acceptable settlements and legal solutions and solutions after a thorough legal study, but the matter is surrounded by a legal obligation, because the Federal General Budget Law requires calculating the cost of producing one barrel of oil in all fields to be within the national average of the cost of production, which is around $8 per barrel, according to what was announced. Federal Ministry of Oil.

He continued: But the Ministry of Natural Resources in the Kurdistan Regional Government, and within the contracts signed with the oil company operating there, the cost of production is calculated at around $26 per barrel, and we suggested to Imam that the budget law be amended, or that the agreements and contracts with these companies be amended.”

The Prime Minister of Iraq continued, saying: From this standpoint, companies stopped production, as the ban did not come from the federal government, and we are waiting for a solution to be found. The companies refused to amend the contracts, while the regional government agreed.

He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.

He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.

Currently, Iraq’s oil production is approximately 4 million barrels per day, according to data from the Ministry of Oil and the Organization of the Petroleum Exporting Countries (OPEC), while it imports about 25 million liters of gas oil, gasoline, and white oil daily, in addition to natural gas.

According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion. LINK

Goldilocks' Comments and Global Economic News Friday Evening 5-31-24

Good Evening Dinar Recaps,

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"Commissioner Pham Announces Agenda for Global Markets Advisory Committee Meeting on June 4" |CFTC

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Bearish Dow future 37,500.

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