Monday, July 1, 2024
Iraq, Saudi Arabia Conclude A Deal For A Submarine Cable Construction Project
Iraq, Saudi Arabia Conclude A Deal For A Submarine Cable Construction Project
Amr Salem June 30, 2024 Underwater internet cables. Photo: Shafaq News Baghdad (IraqiNews.com) – The Iraqi Ministry of Communications signed on Thursday a contract for a submarine cable construction project with the Saudi Telecom Company (STC) to increase internet capacity in Iraq.
In a press conference after signing the deal, the Iraqi Minister of Communications, Hiyam Al-Yasiri, said that this is the third deal signed by the current Iraqi government.
The director of the media department in the Iraqi Communications Ministry, Omar Al-Amiri, explained that the project will help facilitate the movement of global communications and link the countries of Africa and Asia to Europe via Iraq.
Al-Amiri noted that such projects will have a positive economic impact on Iraq by utilizing its geographical location.
In June 2023, the Iraqi Ministry of Communications announced that it was launching internet service through space to provide the best internet service to people in Iraq.
Projects to provide internet via fiber-optic cables require a relatively long time to complete the deployment of cables in all areas because of the difficulties represented in the excavation works and the expensive costs of these projects.
In order to diversify the sources of internet service, increase competitiveness, and reduce prices, the concerned department in the Iraqi Ministry of Communications started the contractual procedures to introduce ‘internet via space’ service in Iraq for the first time.
Iraq is following in the footsteps of developed countries that employ low-orbit satellite technology to deliver internet access directly to people via a vast network of satellites operated by reputable corporations.
LATEST UPDATES FROM TEXAS SNAKE, 1 JULY
TEXAS SNAKE
Sat. 29 June 2024 Texas Snake
“I have nothing to confirm the hour we will be notified about appointments to exchange or the dollar value of same, I do know the banker has had his staff on a one hour call to report to their assigned locations once the release has become authorized for the past three days, and that the rate in country was published in the Gazette today Sat. 29 June 2024. So folks we are extremely close. GOD Bless.”
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TEXAS SNAKE
As most know our Saturday is Iraq's Sunday. The new Budget was included in the latest Gazette but the rate was not given. I now have it from 3 different sources that Iraq is planning a nationwide celebration for this Sunday.
There are many foreign dignitaries in country for the party and the rate will be announced and the new ATM's with the new currency will be opened. So this is my hoped for announcement for tomorrow. GOD Bless.....
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Just an FYI but I closed the room after the comments about Gurus and MarkZ, this room is for my connections with major international bankers and NYSE upper management as well as a WF banker involved with actual exchange centers his bank has prepared to do actual monetary exchanges of currencies.
I plan on advising once the exchange platform is about to begin so we will have an advance alert.
https://dinarevaluation.blogspot.com/2024/06/rv-update-by-texas-snake-via-telegram.html
LATEST FROM ISAAC N, 1 JULY
ISAAC N
Hello things are advancing I need one confirmation this Friday as soon as I have it I will post , lots of blessings!!!!
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ISAAC N
02/19
ISAAC N: Just waiting for the advance on German bonds to start
ISAAC N: Hello things are advancing I need one confirmation this Friday as soon as I have it I will post , lots of blessings!!!!
E.T. : What is Isaac referring to? Iraq? What confirmation?
INGWAY : Isaac is referring to systems not being in place for the RV yet. He is awaiting confirmation that systems have been completed and the RV can move forward.
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JANUARY 7 , 2024
WOLVERINE: QUESTION TO ISAAC:
Isaac are you optimistic for you call on Tuesday?
ANSWER / RESPONSE by ISAAC:
• Yes I am
• Last thing they told me is we are close for advances on German bonds
• We will have an qfs acc you will manage all from there
• Is like an acc in a cloud and only you have the codes to move and do whatever you want
• I can tell you several bans in Europe private ones the big whales will put the money and amazing things will happen there
• After German bonds comes dragons and then come the others
• First tier 3 them 4 a then 4 b
..FOR READ MORE:
Economist: Direct Banking Investment Is Prohibited By Order Of The Central Bank
Economist: Direct Banking Investment Is Prohibited By Order Of The Central Bank
Economy Central Bank of Iraq Investment law 2024-06-30 02:32 Shafaq News/ Economic expert Mustafa Akram Hantoush explained on Sunday that the Central Bank of Iraq is adopting a “strict” central policy in its dealings with the banking sector, which limits the ability of banks to engage in direct investment and financing economic projects.
Hantoush told Shafaq News Agency that this policy makes it difficult for the banking system and investors to invest their capital in new projects without obtaining special approvals from the Central Bank.
Hantoush added that the current procedures followed by the Central Bank prevent banks from entering the fields of direct investment, which hinders the realization of a vital role for the banking sector in moving the wheel of the national economy. He explained that
the banking system, in light of these procedures, does not have sufficient capacity to play an effective investment role in line with normal banking rules, but rather the investment decision becomes subject to the directions and approvals of the Central Bank.
Hantoush stressed that this approach lacks the concept of "financial liberalization" for banks, which would provide the banking sector the opportunity to enter the Iraqi market directly and support investment opportunities, while adhering to banking and legal controls.
He stressed that reviewing these policies may be a necessary step to activate the role of banks in supporting economic projects and promoting investment in Iraq. https://shafaq.com/ar/اقتصـاد/خبير-اقتصادي-الاستثمار-المصرفي-المباشر-محظور-ب-مر-البنك-المركزي
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