Baghdad activates oil contracts with Emirati company, 15 OCT
Shafaq News / The Iraqi Ministry of Oil announced on Sunday the activation of contracts with an Emirati company for the development of three oil and gas fields.
In a concise statement, the ministry revealed that it has executed three energy agreements with the Emirati oil company Al-Hilal to advance three key oil and gas fields within Iraq.
This development follows the ministry's prior declaration on February 21, 2023, regarding the signing of three contracts with the Emirati oil company Al-Hilal to develop gas fields in the provinces of Basra and Diyala.
According to the ministry, the Emirati company will undertake the development of two fields in Diyala province, aiming to produce a daily standard measurement of 250 million cubic feet of natural gas within 18 months.
Iraq’s Integrity Commission Executes Over 30 Arrest and Summons Orders Against Officials, 15 OCT
In a significant move towards accountability, Iraq’s Federal Integrity Commission has issued and executed over 30 arrest and summons orders against high-ranking officials and senior figures in September.
Targeting High-Ranking Officials
The orders, issued by judicial authorities and referred to the judiciary, targeted a former member of parliament, three former ministers, a current governor, two former governors, 11 current general directors, 11 former general directors, two former officials, and a former member of a governorate council. The orders were divided into 30 summons orders and 4 arrest orders.
Issuance and Execution of Orders
These orders are not just on paper; they have been effectively put into action. The Commission’s Investigation Department disclosed that these orders were the result of investigations conducted by the Commission’s directorates and investigation offices. This indicates the Commission’s commitment to holding officials accountable, regardless of their positions or ranks
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Details of Offenses Unrevealed
The specific details of the alleged offenses committed by the targeted individuals were not provided in the available information. This lack of transparency raises questions about the nature of the alleged crimes and the evidence supporting these orders. It also underscores the need for more openness in the Commission’s operations to bolster public confidence in its actions.
Implications for Accountability in Iraq
This move by the Federal Integrity Commission signifies a significant step towards enhancing accountability and combating corruption in Iraq. By targeting high-ranking officials, the Commission sends a strong message that no one is above the law. However, the lack of details about the alleged offenses emphasizes the need for greater transparency to ensure the public’s faith in the Commission’s actions.
Question: "I'm confused, are you for an RV or you saying it's not going to happen?" What do you mean? What part are you confused about?
I'm for an RV, hell yeah man! Let it happen tomorrow. Geez. I'm for an RV, I'm just saying we're grounded...I'm not negative.
I'm telling you the truth...I'm saying the RV will happen in increments. Are you talking about a reinstatement, the $3.22 rate? No, that's not going to happen...
The one major issue with Iraq is they rely too much on oil. I don't care what them guys tell you about, 'oh, they're article VIII compliant.'
That doesn't mean crap. Compliant what? Article VIII of what?
What article VIII are you talking about?
The biggest issue with Iraq besides the fact they don't have a stable economy and their government is not stable is they rely way too much on oil...
Middle East Stock Market: A Glance Amid Crises, 15 OCT
In the midst of turmoil and uncertainty, the Middle East’s financial landscape is witnessing a significant shift. The ongoing conflicts such as the war in Yemen, and unrest in Iraq and Syria, which have been plaguing the region, have now started affecting the economic sphere, particularly the stock market. However, it’s not all doom and gloom. Amid this crisis, traders and experts see a glimmer of hope and potential for growth.
Market Challenges and Opportunities
The stock prices in the Middle East have been experiencing a sharp decline due to the prevailing uncertainty and instability. While this scenario may be a cause of concern for some, many traders and experts view it as an opportunity. They believe that the current low prices present a golden opportunity for investors to purchase stocks at attractive rates. The expectation is that once the situation stabilizes and the conflicts are resolved, the stock prices will see an upward trend.
The Anticipation of Sunday’s Market Opening
The opening of the market on the forthcoming Sunday is anticipated to bring some positive changes. Traders are optimistic that with the reopening of the market, there will be an increase in trading activity, potentially leading to a rise in stock prices. This optimism, despite the existing conflicts, reflects the resilience of the financial sector and the hope for a brighter future.
Diversifying Investment Portfolios
During these times of crisis, the importance of diversifying investment portfolios cannot be overstated. The article suggests that investors should consider investing in sectors less affected by the conflicts. Sectors like healthcare, technology, and consumer goods are seen as safe havens during these tumultuous times. Diversifying investments not only helps in reducing risk but also increases the chances of getting higher returns.
The Role of Government Support
The governments also play a crucial role in restoring stability in the stock market. They can implement policies and measures that can help stabilize the stock market and boost investor confidence. This includes providing financial support to affected industries, encouraging foreign investment, and promoting economic reforms. These measures can help in attracting investment and restoring stability in the market.
[via PDK] ...What one person calls a redemption center-another calls a bank. But overwhelmingly redemption centers are in banks…Banks that are set up with people trained to exchange currencies and all the procedures and equipment…. Call it whatever you want. Call it a “redeeming bank”…Most work in dual roles…in wealth management and will be assisting with exchanges when it happens…so most are already employed at banks.
We are watching it happen…and yes it is just moving so slowly. Slowly, slowly then suddenly it’s going to go. BAM
Question: ...Mr. C. [Guru Mike Cottrell] said that Iraq will have an RI (as opposed to the RV); what is an RI and what's the difference?
MarkZ: An RI is a reinstatement of the former rate before they devalued the dinar…It is my understanding they can reinstate it to the old rate PLUS…add more for the inflation that happened during that time period….
I think the old rate was around $3.22-$3.30 or so…then if you add in inflation for the last 20 years and you can justify a rate of over $4 or so,…a RV is a revaluation of any rate that’s not the RI rate.
We were getting strange rates in Iraq today...It doesn’t seem to be an official process but an unofficial process. Many merchants or money handlers have put a different value on their dinar. They believe the dinar is about to take a serious spike in value. So they were charging a premium if you wanted any of their dinar...
It’s been an interesting day but, I have not been able to confirm the rumors of $1.13 or so rate…but I can verify the number of sources that tell me “yes, there were major wild swings in the dinar based on who you were negotiating with...I could not confirm the rates many...have said…I can verify the value swung greatly today. I believe its telling us that the people of Iraq believe the timing is very, very soon.
