Oil continues to lose as tension in the Middle East eases, 20 APRIL

 Oil continues to lose as tension in the Middle East eases

Economy | 04/18/2024   Mawazine News – Baghdad  Oil prices fell, on Thursday, to their lowest level in three weeks, continuing their losses amid hopes for a decline in tension in the Middle East, which is one of the most important crude producing regions, while investors’ focus shifts to expectations of a decline in demand.

Brent crude futures fell only 60 cents, or 0.7 percent, to $86.69 per barrel, while US West Texas Intermediate crude futures fell 53 cents, or 0.6 percent, to $82.16 per barrel. Both declined for the fourth session in a row.

Prices fell by more than a dollar at their lowest levels during the session, and have also fallen by about four percent since the beginning of the week.

Investors are reducing the geopolitical risk premium on oil prices amid expectations that international pressure will succeed in curbing the severity of any Israeli response to the attack launched by Iran on April 13.

Ole Hvalby, commodity analyst at SEB Research, told Reuters that any new Western sanctions on Iran could be offset by increased production from other oil-producing countries, and their impact may be limited without Chinese cooperation.

According to Reuters data, Iran is the third largest crude producer in the Organization of the Petroleum Exporting Countries (OPEC), and a decline in the intensity of its conflict with Israel would reduce the possibility of supply disruption.

Analysts at JP Morgan highlighted in a note issued late Tuesday that global oil consumption since the beginning of April is 200,000 barrels per day less than expected, with an average of 101 million barrels per day.

The rise in US crude inventories also suppressed prices. The US Energy Information Administration said on Wednesday that crude oil inventories rose by 2.7 million barrels to 460 million barrels in the week ending April 12, compared to analysts’ expectations in a Reuters poll that inventories would increase by 1.4 million barrels.

Inventories rose with a decrease in refinery consumption at a time that usually witnesses an increase in refining activity in preparation for increased summer demand in the United States. https://www.mawazin.net/Details.aspx?jimare=246211

 

"RV UPDATE" BY PIMPY, 20 APRIL

 Pimpy

   Article quote:  "Removing zeros off the Iraqi Dinar can indeed impact liquidity issues in Iraq.  By re-denominating the currency and removing zeros, the Central Bank of Iraq aims to reduce transaction costs and make it easier for people to carry less physical money.  

With a lower denomination, larger amounts can be replaced with fewer notes...This can potentially enhance liquidity management within the country's financial system."  So the deletion of the zeros could help Iraq with their liquidity issues...

What is the deletion of zeros of currency? 

 An action aimed at increasing the nominal value of money.  Nominal value, NOT the exchange rate. Re-denomination, that's what this is.  What is lopping off zeros?  Same thing.  Changes the nominal value.  What is the removal of zeros off currency?  ...Also known as deleting of the zeros...Re-denomination. 

 What is reducing of zeros off currency? 

 Re-Denomination. I'm telling you guys all those things are the same thing...You remove the zeros off the currency and when you do that .00076 will be .76 but it doesn't change the value of your currency versus other world currencies.  That stays the same.

Breaking News: Huge Partnership Deals Signed 🔥 News Guru Update Value IQ...

"THE NEED TO RAISE THE DOLLAR EXCHANGE RATES IN THE IRAQI MARKETS" BY GODILOCKS, 19 APRIL

 GOLDILOCKS

"A member of the parliamentary finance committee Adnan Al-Zarfi stressed on Friday the need to raise the dollar exchange rates in the Iraqi markets, while pointing out that America is pressing Iraq to reform the victory."

Let's take a closer look at this article. The recommendation to raise the Dollar rate in Iraq "again" is a statement that holding the Iraqi Dinar price down is getting more difficult. 

The article goes on to say that keeping the Iraqi Dinar on a programmed rate is no longer profitable or to their advantage. 

Moving forward with their banking reforms is currently on the table.

© Goldilocks 

https://search4dinar.wordpress.com/2024/04/19/parliaments-finance-advises-raising-exchange-rates-again-money-about-oil-revenues/

https://www.reuters.com/plus/how-a-strong-dollar-affects-international-currencies-and-commodities

"RV UPDATE" BY BRUCE, 19 APRIL

 Bruce  

[via WiserNow] 

  We know that we have been close for this going...individual coming from Europe, is saying that...we should be receiving our emails Saturday, Sunday or Monday...So that's...from this Wells Fargo Bond Paymaster... 

Now...a couple of other individuals that are older and have worked in some capacity with the Reagan Treasury and administration... They...say that in their opinion,  we are going to receive our emails, either [Friday] or Saturday and then we'll exchange according  based on whenever we received those emails...and then finally we go to a bank that we’ve all heard of – 

not one of the Big 4 – but this particular bank is saying that we would be notified over the weekend  which included Friday Saturday or Sunday...we'll see what happens over this weekend.

Iraqi Dinar🔥Al Sudani Unfolding The Mystery Today 2024🔥iraqi dinar news🔥...

The Chairman of the Investment Authority signs the United Nations Convention on International Mediation, 19 APRIL

 The Chairman of the Investment Authority signs the United Nations Convention on International Mediation

Chairman Of The National Investment Authority, Haider Makkiya

Economy News – Baghdad   On Thursday, Chairman of the National Investment Authority, Haider Muhammad Makkiya, signed the United Nations Convention on International Mediation, known as the “Singapore Convention,” in New York City, noting that this agreement is a tool for facilitating international trade and promoting mediation.

Makiya said in his speech during the signing ceremony, which took place in coordination with the Iraqi representation at the United Nations, and was reviewed by Al-Iqtisad News, that “it is important to activate the Republic of Iraq’s accession to the Singapore Agreement on Mediation and International Investment Disputes, in accordance with the provisions of Law No. (14) of 2021.”

Referring to Cabinet Resolution No. (24203) of 2024 ratifying the International Commercial Arbitration Law, which included international standards for international commercial arbitration, stressing “the position of this agreement within the framework of enhancing the Iraqi investment reality.”

He added, "Iraq includes many international and qualitative strategic investment opportunities, the reality of which requires contracting with foreign companies specialized in investment, and what it requires to provide legal protection for companies, in the event of disputes arising from contracts concluded by state institutions with these foreign companies that prefer to resort to... International arbitration to guarantee its rights, as stipulated in Article (27/First) of Investment Law No. 13 of 2006, as amended.”

Makiya continued, "This agreement is a tool for facilitating international trade and promoting mediation, as well as being an alternative and effective method for settling commercial disputes," noting that "the agreement will contribute to achieving sustainable development goals and encouraging the increasing use of mediation as an effective means of settling cross-border disputes for the purpose of preserving Commercial relations between the parties involved in the investment process.”

The head of the authority continued, “The agreement has a pivotal dimension due to its importance and the existence of several justifications for joining it, most notably finding an alternative method to litigation procedures before international arbitration bodies in disputes arising from investment through commercial mediation regulated by the provisions of this agreement,

 especially since the Republic of Iraq joined in the year 2015 to the International Center for Settlement of Investment Disputes between States and Nationals of Other States, which gives foreign investors the right to resort to the Washington Center.

He stated, "Iraq's accession to the Singapore Mediation Agreement is necessary to attract investments and achieve economic development purposes, especially in light of the transformation and adoption of a free market economy as an economic system for the country, in addition to referring many strategic projects to foreign companies and investors," pointing out, "

A specialized program has been prepared for introductory workshops that the Authority will hold for all ministries and state institutions to educate their legal departments about the legal impact of this agreement, in cooperation with the UNDP.”

70 views   04/18/2024 - https://economy-news.net/content.php?id=42606

"URGENT CIRCUMSTANCES IS THE CITIZENS PURCHASING POWER AND THE VARIABLES ARE 3 ZEROS LIFTED!!!" BY FRANK26, 19 APRIL

KTFA

FRANK26: "URGENT CIRCUMSTANCES IS THE CITIZENS PURCHASING POWER AND THE VARIABLES ARE 3 ZEROS LIFTED!!!"...........F26

 

Saleh: The budget tables are almost complete and will take into account urgent circumstances and variables

4/17/2024

The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Saleh, confirmed that the financial budget schedules for 2024 were “almost” complete.

In a press statement, Saleh considered “the presentation of the financial schedules for the fiscal year 2024 by the executive authority for parliamentary approval” as a “flexible legislative path, as an integral part of the financial constants and principles of the Federal General Budget Law No. 13 of 2023 (Tripartite).”

He stated, “ These tables include revenues, public expenditures, and the estimated hypothetical deficit, and they are within the law that was originally legislated by the House of Representatives and published in the Official Gazette last year. The proposed financial tables that are being prepared by the executive authority today, and which have become almost complete, are based on financial legislation. implemented and approved under the aforementioned Tripartite Budget Law.”

He added, “The financial schedules prepared for the year 2024 will take into account the urgent economic and social conditions and changes required by the need for economic development in the year 2024, especially new investment projects, and financial commitments and pledges during the current year, in order to Implementing it as an annual financial plan within the framework of the principles of the tripartite general budget itself, in letter and spirit.”

LINK

Iraqi Dinar Rising in World In World Current Situation 🔥Iraqi Dinar toda...

The Stock Exchange Announces The Trading Of Shares Worth More Than 10 Billion Dinars Within A Week, 19 APRIL

 The Stock Exchange Announces The Trading Of Shares Worth More Than 10 Billion Dinars Within A Week

Market   Economy News – Baghdad  The Iraq Stock Exchange (Stock Exchange) announced on Thursday the trading indicators for this week.

The stock exchange stated in a statement, seen by Al-Iqtisad News, that “the Iraqi Stock Exchange organized five trading sessions during the third week of April, from Sunday (April 14) to Thursday (April 18).”

The statement added, "During this week, the number of shares traded reached more than 7 billion shares, with a value of more than 10 billion dinars."

She pointed out that “the market trading index for the first session of the week closed at (911.51) points, while the index closed at the end of the week at (957.71) points, achieving an increase of (4.82%) from its close at the first session.”

She continued, "During the week, (4,146) purchase and sale contracts were executed on the shares of companies listed on the market."  Views 73 04/18/2024 - https://economy-news.net/content.php?id=42594

"ONCE AGAIN USELESS PARLIAMENT CALLS FOR THE OBVIOUS AND FOR WHAT THEY ONCE REJECTED!!!" BY FRANK26, 19 APRIL

 KTFA

FRANK26: "ONCE AGAIN USELESS PARLIAMENT CALLS FOR THE OBVIOUS AND FOR WHAT THEY ONCE REJECTED!!!"...........F26

Parliamentary Finance calls for “confining the dinar in the hands of the state”

 

4/17/2024

The Parliamentary Finance Committee pointed out, on Wednesday, the problem of the lack of cash “Iraqi dinar,” calling for “confining the dinar to the state.”

Committee member Hussein Moanis told Shafaq News Agency, “The House of Representatives voted on the tripartite budget law and required the government to send the schedules for approval,” indicating that “the delay in sending the schedules to Parliament did not affect the operational budget.”

He pointed out that "there is no specific date for approving the budget schedules in the Council of Ministers and sending them to the House of Representatives," indicating "a real problem with the lack of cash (the Iraqi dinar)."

He pointed out that "the Parliamentary Finance Committee is working to develop specific methods to process and provide cash and confine it to the state through adopting the electronic card, strengthening the work of banks, and presenting documents to achieve cash abundance in the market."

Mu'nis concluded by saying, "There is no trust between the banking system and the citizen, and the lack of trust has caused the cash currency (the Iraqi dinar) to be stored in the homes of citizens, which has caused it to be lost and not naturally available in the market."

A member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, said on March 27, 2024, that the Iraqi government raised the total amount of the budget law from 199 trillion dinars to 228 trillion dinars in the 2024 budget.

While a member of the Parliamentary Finance Committee, Mustafa Al-Karaawi, said in an interview with Shafaq News Agency on February 27, 2024, that Finance Minister Taif Sami informed the members of the committee during her hosting, yesterday, Monday, of the imminent sending of the budget law schedules to the House of Representatives.

LINK

 

Iraqi Dinar WOW American Immunity Iraq's Money & CORRUPTION BY CHELLA

Iraq Stresses The Importance Of Lockheed Martin's Commitment To Opening Military Aircraft Maintenance Centers, 19 APRIL

 Iraq Stresses The Importance Of Lockheed Martin's Commitment To Opening Military Aircraft Maintenance Centers

Money  and business  Economy News – Baghdad  Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani stressed the importance of Lockheed Martin’s commitment to opening military aircraft maintenance centers.

The Prime Minister's Media Office stated, in a statement received by Al-Iqtisad News, that "Al-Sudani met in Washington with the CEO of Lockheed Martin, which is responsible for manufacturing F-16 aircraft, James Taiclet and his accompanying delegation."

He stressed, "The importance of the company's commitment to opening centers for the maintenance of military aircraft and providing spare materials for them inside Iraq, given the importance of this matter regarding the rehabilitation of Iraqi aircraft to maintain the security of the country."

For his part, Taiclet expressed his "understanding and readiness to respond to the Iraqi government's requests regarding the implementation of the terms of contracts for the supply of aircraft to Iraq, and the provision of all related supplies."

126 views   Added 04/18/2024 - 10:36 AM   https://economy-news.net/content.php?id=42583

"KTFA FAMILY, WHAT WE TOLD YOU ON MONDAY", 10 APRIL

KTFA 

FRANK26: "KTFA FAMILY, WHAT WE TOLD YOU ON MONDAY"............F26

Al-Sudani receives in Washington the Chairman of JPMorgan

 

4/17/2024

 Baghdad
 

On Wednesday, Prime Minister Muhammad Shiaa Al-Sudani stressed the necessity of carrying out reforms in the banking sector in order to achieve development in the country, while pointing out that the government is implementing projects that will achieve sustainable development.

The Prime Minister’s media office said in a statement, seen by Al-Iqtisad News, that “Al-Sudani received, at his residence in the American capital, Washington, the President of JP Morgan Bank, Mr. Masha Klovoksy, and his accompanying delegation, and during the meeting, the government’s efforts in implementing financial and banking reforms were discussed.” In light of the path it is taking towards improving the economic situation and achieving development, in addition to discussing the government’s measures to develop the government banking sector, through its contracts with major international consulting companies specialized in banking reform, and encouraging private banks to open accounts with foreign banks to be correspondent banks, according to A plan aims to dispense with the electronic platform at the end of this year.”

Al-Sudani stressed, according to the statement, that "it is possible to work in any development sector without reform steps for the banking sector, and the necessity of continuing the dialogue with the US Treasury, the US Federal Reserve, the International Monetary Fund, and other international financial institutions."

For his part, Klovsky praised "the efforts of the Iraqi government to activate, develop and rehabilitate government and private banks, and its procedures in the field of providing assistance to private Iraqi banks," stressing "its support for the activities of the Iraq Fund for Development and its readiness to provide expertise and assistance in the field of training, cooperation and partnership."

LINK