With wide local and international participation.. Baghdad Exhibition opens its 47th session today, 11 JAN

With wide local and international participation.. Baghdad Exhibition opens its 47th session today

Shafaq News/ The Ministry of Commerce announced, on Wednesday, that the Baghdad International Fair will open its 47th session this afternoon, with the participation of 850 different companies from 20 countries.

Ministry spokesman Muhammad Hanoun told Shafaq News Agency, “The Kingdom of Saudi Arabia is the official sponsor of the conference, as 140 companies will participate.”

He stated that “8 Arab countries and 12 foreign countries will participate in the exhibition, namely Saudi Arabia, the Emirates, Jordan, Egypt, Syria, Oman, and Palestine, while foreign countries will include Spain, India, Pakistan, Indonesia, Thailand, Algiers, Azerbaijan, the Philippines, and others.”

Hanoun pointed out that “the exhibition will last for 10 days, starting today and ending on the 19th of this month,” stressing, “We seek through this exhibition to establish real partnerships between the Iraqi and international private sectors.”

shafaq.com

"RV UPDATE" BY GOLDILOCKS, 11 JAN

 Goldilocks and Seeds of Wisdom

Lawmakers are now taking cryptocurrency and blockchain regulations to their states. On January 5, the Blockchain Basics Act, a bill that aims to protect several blockchain and cryptocurrency rights, was introduced in the Nebraska Unicameral Legislature by Sen. Eliot Bolstar, putting the cornhusker state at the forefront of these initiatives.

The act seeks to guarantee the rights of Nebraskans to mine cryptocurrency without restrictions, exert the custody of their cryptocurrency assets, and transact with crypto. It also establishes the exemption of capital gains state taxes for cryptocurrency transactions under $200.

Bitcoin News Link

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Leveling the playing field for stablecoins 

The race for Stablecoin adoption is underway. Stablecoins represent a country’s currency. The current technology is at T+1 settlement. The goal is to reach T + O settlement or instant settlement.

Patriot, the blockchain interbank payment network, already utilizes JP Morgan’s Coin as a Deposit Token throughout the current banking system.  This network has already achieved near-zero instant payment system technology.

The goal is to create a Level Playing Field among countries and their payment systems through T+0 settlements. And, Stablecoins are the path forward to reach this goal collectively.

For a Stablecoin to qualify in digital payment systems going forward, they will need a stable price equivalent to the country’s current regulated price on their currency. The use of gold backing each of these Stablecoins will help to achieve this goal.

© Goldilocks

Risk Link
Ledger Insights Link

Iraqi Dinar Fixed Exchange Rate for 3 Year News Update Dinar IQD Iraqi D...

A parliamentarian suggests that Al-Halbousi’s replacement will be inaugurated on this day, 11 JAN

 A parliamentarian suggests that Al-Halbousi’s replacement will be inaugurated on this day, 11 JAN

Information/Private..
Member of the House of Representatives, Suhaila Al-Sultani, suggested on Wednesday that the inauguration session of the Speaker of Parliament will be held next Saturday, while she confirmed that the inauguration of the replacement for the expelled Speaker of the House of Representatives, Muhammad Al-Halbousi, will not exceed the beginning of next week, given the efforts of the political blocs to resolve this issue.

Al-Sultani said in an interview with the Maalouma Agency, “The session will be held at a signed request from 50 deputies according to the internal law, because there is no president who determines the date for holding the sessions,” noting that “there is an arranged meeting of the heads of the political blocs that will determine the identity of Al-Halbousi’s replacement to assume the presidency of Parliament within next period”.

She added, “The political odds indicate that the inauguration of a replacement for Al-Halbousi will not be delayed long, given the need to vote on the laws,” noting that “the inauguration of a replacement for the expelled Speaker of the House of Representatives, Muhammad Al-Halbousi, will not exceed the beginning of next week, given the efforts of the political blocs to resolve this issue.”

Regarding the reasons for the delay in inaugurating the replacement, Al-Sultani confirms: “The legislative recess prevented the position of the next speaker of the House of Representatives from being decided during the past days.”

The representative of the coordinating framework, Thaer al-Jubouri, had confirmed in an interview with the “Maalouma” agency, that “the identity of the replacement for the expelled Speaker of the House of Representatives, Muhammad al-Halbousi, has been identified,” while he confirmed that there is a consensus among the political forces affiliated with the coordination framework to nominate Representative Mahmoud al-Mashhadani for the presidency of Parliament.

almaalomah.me

Awake-in-3D: What is the New BRICS Pay Initiative?, 11 JAN

Awake-in-3D: What is the New BRICS Pay Initiative?

What is the New BRICS PAY Initiative?

On January 9, 2024
By Awake-In-3D

“BRICS Pay” is an ambitious initiative by the BRICS nations (Brazil, Russia, India, China, and South Africa) aimed at establishing a cross-border payment system to enhance financial cooperation within the bloc.

Focused on facilitating transactions in local currencies and reducing reliance on dominant global currencies like the U.S. dollar, BRICS Pay intends to integrate modern financial technologies, including blockchain and digital currencies, to streamline and secure transactions.

BRICS Pay represents a significant step by the BRICS nations towards creating an independent financial ecosystem that supports their currency, economic and geopolitical interests.

While offering potential benefits like reduced transaction costs and mitigated exchange rate risks, its implementation faces significant challenges, including infrastructure development and regulatory harmonization.

This initiative reflects the BRICS countries’ broader efforts to gain greater economic independence and reshape the global financial landscape in favor of emerging economies.

The BRICS Pay Initiative

1. Multilateral Payment System: BRICS Pay is intended to be a cross-border payment system. Its primary aim is to facilitate smoother and more efficient financial transactions among the BRICS nations. By enabling transactions in local currencies, it seeks to bypass the need for conversions into dominant currencies like the U.S. dollar or the Euro, which can add costs and complexities.

2. Integration of Technologies: The system is designed to leverage modern financial technologies, including digital and blockchain technologies. This approach is expected to make transactions more secure, faster, and less expensive compared to traditional banking systems.

3. Support for Local Currencies: A significant goal of BRICS Pay is to strengthen the use of the member countries’ local currencies in international trade. This would help in reducing the transaction costs associated with currency conversions and mitigate the risks linked to exchange rate fluctuations.

4. Prototype Development: As of my last update, a prototype of the BRICS Pay system was being developed. This prototype combines the advantages of traditional payment systems with newer technologies like central bank digital currencies, decentralized financing, and tokenized assets.

5. Challenges in Implementation: While the idea of BRICS Pay presents a strategic shift in international financial transactions, its implementation faces challenges. These include establishing the necessary infrastructure, ensuring regulatory compliance across different jurisdictions, and gaining widespread acceptance among businesses and financial institutions in the BRICS countries.

6. Geopolitical and Economic Implications: The development of BRICS Pay is part of a larger effort by the BRICS nations to assert greater economic independence and reduce their vulnerability to fluctuations and policies in Western financial markets. It reflects a growing trend of regional groups looking to establish more control over their financial transactions.

BRICS Pay represents a significant step by the BRICS nations towards creating an independent financial ecosystem that supports their economic and geopolitical interests.

It aims to facilitate trade among member countries, reduce reliance on Western-dominated financial systems, and promote the use of local currencies in international transactions.

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© GCR Real-Time News

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Planning: The government is keen to complete the 2024 budget schedules as quickly as possible and send them to the House of Representatives for approval., 11 JAN

Planning: The government is keen to complete the 2024 budget schedules as quickly as possible and send them to the House of Representatives for approval.

Today, Wednesday, Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, chaired an expanded meeting, held at the Ministry of Oil, in the presence of Deputy Prime Minister for Energy Affairs, Minister of Oil Hayan Abdul-Ghani, Minister of Finance Taif Sami, and Minister of Oil and Natural Resources, in the regional government. Kurdistan Kamal Muhammad and his accompanyingdelegation, as well as undersecretaries of the Ministries of Planning and Oil, a number of general directors in the two ministries, and the Ministry of Finance.

During the meeting, the mechanisms for preparing the general budget schedules for this year 2024 were discussed, in its operational and investment aspects, in light of oil prices and the revenues expected to be achieved during this year.

Tamim pointed out that the government is keen to complete the 2024 budget schedules as quickly as possible and send them to the House of Representatives for approval.

nrttv.com