Saturday, December 9, 2023
"IRAQ KURDISTAN BOOTS ON THE GROUND REPORT" : " THEY ARE REMOVING THE ZEROS" , 8 DEC
Frank26
[Iraq Kurdistan boots-on-the-ground report]
SUPERGIRL: Dyaa got news 2 days ago from Iraqi news. They are removing the zeros but they didn't say when.
FRANK: Bingo...!
SUPERGIRL: He said it was BBC. News also said something about it...He did hear they are removing the zeros and they will change it to a one, 5, 10, 20 50...
FRANK: Wow! Jackpot!
FIREFLY: It's a campaign they told us today. They keep repeating it over and over. [See commercial video below from earlier today] It's a campaign they are doing they say to build up the dinar, to make it the gateway of the country. That's what they're telling us. They're adding strength to our currency. FRANK: I know what they are trying to tell you... Is there strength in a program rate? Of course not. They're preparing you...Playing On Iraqi TV Right Now.
Oil heads for seven-week decline for first time in half a decade, 9 DEC
Oil heads for seven-week decline for first time in half a decade
Shafaq News/ Oil benchmarks were on track for a seven-week decline on Friday, their first in half a decade, on worries about a supply surplus and weak Chinese demand, though prices rebounded after Saudi Arabia and Russia lobbied OPEC+ members to join output cuts.
Brent crude futures were up $1.46, or 2%, at $75.51 a barrel at 1431 GMT, while U.S. West Texas Intermediate crude futures were up $1.33, or 1.9%, to $70.67 a barrel. Brent had earlier risen by $2.
Both benchmarks slid to their lowest since late June in the previous session, a sign that many traders believe the market is oversupplied. Brent and WTI are also in contango, a market structure in which front-month prices trade at a discount to prices further out .
OPEC+'s "weakening position in providing support coupled with record high US production and sluggish Chinese crude oil import figures can only mean one thing: there is an abundance of oil available, which is neatly reflected in the contangoed structure of the two pivotal crude oil benchmarks," said Tamas Varga of oil broker PVM in a note.
Friday's gains, meanwhile, are a "correction and nothing else," Varga said.
Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy, only days after a fractious meeting of the producers' club.
The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed to a combined 2.2 million barrels per day (bpd) in output cuts for the first quarter of next year.
"Despite OPEC+ members' pledges, we see total production from OPEC+ countries dropping by only 350,000 bpd from December 2023 into January 2024," said Viktor Katona, lead crude analyst at Kpler.
Some members of OPEC+ may not adhere to their commitments due to muddied quota baselines and dependence on hydrocarbon revenues, Katona said.
Brent and WTI crude futures are on track to fall 4.4% and 4.7% for the week, respectively, their biggest losses in five weeks.
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Fuelling the market's downturn, Chinese customs data showed its crude oil imports in November fell 9% from a year earlier as high inventory levels, weak economic indicators and slowing orders from independent refiners weakened demand.
In the United States, output remained near record highs of more than 13 million bpd, U.S. Energy Information Administration data showed on Wednesday.
Stronger-than-expected U.S. job growth and a drop in the unemployment rate signalled resilience in the labor market, U.S. Labor Department data showed on Friday. That has dampened hopes that the Federal Reserve would cut interest rates by early next year, and could weigh on markets.
In Nigeria, the Dangote oil refinery is set to receive its first cargo of 1 million barrels of crude oil later on Friday, the start of operations that, when fully running at 650,000 barrels a day, would turn the OPEC member into a net exporter of fuels after having been almost totally reliant on imports.
https://shafaq.com/en/Economy/Oil-heads-for-seven-week-decline-for-first-time-in-half-a-decade
Iraq Marks International Anti-Corruption Day with Significant Strides, 9 DEC
Iraq Marks International Anti-Corruption Day with Significant Strides
On the occasion of the International Anti-Corruption Day, Iraq’s Federal Commission of Integrity commemorated the significant steps the nation has taken in its fight against corruption. The day, marking the 20th anniversary of the United Nations Convention against Corruption (UNCAC), underscores the global commitment to combat corruption in all its forms.
Unprecedented Strides in Anti-Corruption Efforts
The statement from the Commission reflects Iraq’s unprecedented strides in improving transparency and accountability within its institutions. These strides include aligning public and private finance with the Sustainable Development Goals (SDGs), and developing new indices to better assess the impact of anti-corruption efforts, including in public procurement. This commitment is central to the country’s development initiatives, with the aim of directing every dollar towards impactful development.
Global Struggle Against Corruption
Despite these advances, corruption remains a global challenge with one in five people worldwide reported having to pay a bribe to access a public service. According to data from the United Nations Development Programme (UNDP), 124 countries have stagnant corruption levels. The UNDP, along with other UN partners, is driving new efforts to measure corruption, contributing to a new Statistical Framework to Measure Corruption led by the United Nations Office on Drugs and Crime (UNODC).
Reinforcing the Vision of Integrity
Executive Director of UNODC, Ghada Waly, reiterated the vision of a world where integrity prevails. Through the UNCAC, the international community has made significant strides against corruption by establishing robust legal frameworks, reforming institutions, and strengthening international cooperation. These efforts prevent resources from being diverted from public services and crisis response, disrupt illicit financial flows, and uphold the rule of law, promoting public trust and peace.
The steps taken by Iraq represent a beacon of progress in the ongoing global battle against corruption. As the world continues to struggle with this pervasive issue, the nation’s commitment to transparency and accountability provide a roadmap for others to follow.
Iraq’s Prime Minister Pledges Steadfast Fight Against Corruption, 9 DEC
Iraq’s Prime Minister Pledges Steadfast Fight Against Corruption
In a robust affirmation of the Iraqi government’s commitment to integrity and transparency, Prime Minister Mohammed Shia’ Al-Sudani marked the International Day for the Combating of Corruption with a pledge to fight corruption relentlessly. The Prime Minister outlined this as an essential priority for the rule of law and societal progress, a testament to the vision of a fair and equitable Iraq.
Unwavering Support for Regulatory Bodies
Al-Sudani emphasized his government’s unwavering support for the regulatory bodies tasked with maintaining checks and balances in the system. Recognizing the magnitude of the task that lies ahead, he highlighted the necessity for robust institutions capable of recovering the nation’s assets and pursuing those individuals responsible for corruption.
Global Cooperation in Denying Safe Havens
The Prime Minister stressed the importance of an international commitment to deny safe havens to corrupt individuals. This, he argued, is a vital step in ensuring accountability and upholding justice, not just within Iraq’s borders, but on a global scale.
Condemnation of Recent Attacks
In related news, Al-Sudani condemned the recent rocket salvos fired at the U.S. embassy in the Iraqi capital, Baghdad. Indications point towards pro-Iranian militias being behind the attack, and the Prime Minister has ordered a thorough search for the perpetrators, highlighting the broader commitment to law and order.
https://bnn.network/politics/iraqs-prime-minister-pledges-steadfast-fight-against-corruption/
TIDBIT FROM NADER FROM MID EAST, 23 NOV
Nader From The Mid East We will not go more than $4 so don't waste your time and ask question about $16, $8, $11 and $12. Don&#...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...