IRAQ TALKS ABOUT PRODUCING ONE MILLION LITERS OF GASOLINE DAILY
Baghdad – Iraq Today:
The Iraqi Ministry of Oil announced the completion of the project to operate the Azmra unit in both Basra Refinery with a capacity of 1.3 million liters per day, and the Central Refineries Company in Dora with a capacity of 750 thousand liters per day.
The Undersecretary for Refinery Affairs, Hamed Younis, said in a press statement that “the operation of the Azmra unit in the Middle Refineries Company contributes to maximizing and improving inventory, adding a production capacity of 750,000 liters per day, in addition to dispensing with the import of high-octane gasoline by 1.5 liters per day.
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Younis stressed the keenness of the federal government and the ministry to “increase refining capacity production rates and improve production in national refineries to reach self-sufficiency and gradually shift to exporting them to global markets, according to the Arab World News Agency.”
(Well…well…its about time that Iraq got these refineries up and running. Lots of article about this effort over the last ten years. 😊 Did I hear of another export product here?)
Question: "If thy delete the zeros will our dinars drop in value?" If you're in Iraq you don't lose any value..
.People who are invested in the Iraq dinar...
EXAMPLE:
Let's pretend like the new exchange rate has changed and you can get $1 US for every 1 dinar...If you had the 25,000 dinar, the 1 to 1 would be perfect without them deleting the zeros. That's because you would get $25,000 for your 25,000 dinar. But if they delete the zeros...your 25,000 dinar is now reduced down to a 25 dinar. Even if they go 1 for 1 that means you're 25 dinar is only worth $25. So yes, your dinar would drop in value if they delete the zeros before the change in the exchange rate happens.
[Response to Breitling post below.] To strictly say the sole reason they added the three zeros to the Iraqi dinar is policy based inflation is not accurate. Yes, it was the central bank of Iraq that devalued the currency...[and] added the 3 zeros...
The first gulf war you can see what the inflation rates were. 1991 - 180%. That's really high. '92 - 83%. '93 - 207%. 1994 - 448%. 1995 - 387%. When you average all these thing up, by the time we got into re-denomanating the currency and the new Iraqi dinars were created getting away from the Saddam notes and Swiss dinar to the currency we have today all these things contributed to it. Hyperinflation, mismanagement, all those things played a key part. So there is no one thing that happened.
Article: "On a tour that included Karbala, Babylon, and Ur... Two American tourists: We felt completely safe in Iraq"
Quote: "Hudson and Emily Crider, travel the world on a mission to explore each country and document its cultural experiences..
.In a series of more than 20 videos, the Criders detail what it's like to be an American tourist in Iraq, offer travel tips and debunk misconceptions about the country...They said: As Christians, we found (Karbala) a wonderful city to see and the people were very welcoming. It is really special that they allow people of all religions to come here and learn more about their beliefs.”
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Article: "Prime Minister’s Advisor: We will see the dollar fall on the black market soon". Quote: "The political advisor to the Prime Minister, Fadi Al-Shammari...pointed out that Iraq agreed “with the US Treasury on a road map that includes a third party represented by an international consulting company to audit the procedures of the sanctioned banks, and its decisions are binding on the US Treasury
.”
Article: "CEO of JPMorgan Chase expresses Support for Iraq” Quote: "Prime Minister Mohammed Shia al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday, during his visit to the Washington DC."
Article: "Vietnam central bank says it’s ready to intervene in forex market; dong now at record low against dollar"
Quote: "Intervention is possible even today, if needed, State Bank of Vietnam Deputy Governor Dao Minh Tu said at a briefing in Hanoi on Friday. The dong dropped to a record-low 25,463 per dollar on the day."
Article: "Al-Sudani stresses the necessity of dialogue with the US Treasury, the Federal Bank, and the International Monetary Fund"
Quote: "Al-Sudani stressed that it is not possible to work in any development sector without reform steps for the banking sector, stressing the need to continue dialogue with the US Treasury, the US Federal Reserve, the International Monetary Fund, and other international financial institutions."
A SPECIALIST IDENTIFIES THE REASONS FOR THE DECLINE IN THE VALUE OF THE DOLLAR AGAINST THE IRAQI DINAR
The official spokesman for the currency market in Sulaymaniyah, Jabbar Gorran, revealed today, Monday, the reasons for the decline in the value of the US dollar against the Iraqi dinar, pointing to the importance of the visit of Iraqi Prime Minister Muhammad Shiaa Al-Sudani to the American capital, Washington.
(It’s called “speculation”.)
Kuran told Shafaq News Agency, “The main reason for the decline in the value of the dollar against the dinar is the impact of the Sudanese visit to Washington, which led to an increase in American support for the Iraqi economy, and the optimism of the American parties regarding infrastructure and government reforms in the banking system in Iraq.”
FRANK26: "DIGITAL TECHNOLOGY IS THE ROAD FOR THE FLOAT"...........F26
Huawei Digital Technology Week in Iraq explores cooperation opportunities to advance smart digital transformation
4/30/2024
The city of Sulaymaniyah witnessed the activities of the Huawei Digital Technology Week, which was organized by the company with the aim of providing communication opportunities between various partners concerned with exploring ways of cooperation to advance the smart digital transformation within various sectors and industries in Iraq.
The event comes in light of the global acceleration in the field of disseminating advanced digital technologies and solutions produced by the communications and information technology industry, such as advanced communications networks and cloud computing, and benefiting from the capabilities of artificial intelligence in developing businesses and services.
Huawei presented the latest technologies, solutions and innovations that it recently launched at the Mobile World Congress 2024 and discussed with more than 300 specialized participants and experts ways of cooperation in the field of employing modern technology in light of the requirements of the Iraqi market in various fields, whether related to corporate business or directly to the consumer. . The event included a conference hall that hosted seminars and discussion panels, and 3 huge main pavilions that included 27 interactive display screens through which Huawei displayed various models of advanced technical experiences that were designed according to the initial perceptions of the priorities of digitization requirements in the Iraqi market, and focused on the possibilities of linking digital intelligence capabilities to the process of business growth and accelerating Applications of artificial intelligence and ways to combine modern technologies to improve the future of business and public services.
The week's activities also discussed the challenges of current digital transformation in Iraq and the priorities of cooperation between partners to build an advanced digitization ecosystem that aims to transform various sectors and industries towards a new era of smart digitization that contributes to accelerating a more productive business cycle.
The experts also discussed ways of cooperation in the field of developing solutions designed according to the business requirements of various segments of Iraqi market customers, particularly government plans for smart cities and the finance, transportation, energy, education, health care and Internet service providers sectors. Huawei has more than 20 years of history in Iraq, during which it has contributed to the dissemination of many communications and information technology technologies in cooperation with its local partners and customers. By organizing the event, the company is committed to building more bridges of cooperation and joint work with its partners and customers in Iraq, led by telecommunications operators and industry partners, to embrace challenges and spread digitization experiences within various sectors and industries.
Initiatives and programs to train specialists and university students to be future leaders of digitization in their country are among the company’s priorities in Iraq, in cooperation with many of its partners, such as ministries, universities, and technical training institutions. Huawei is considered the most distinguished company in the world in the field of dealing with a wide range of modern digital products, solutions and services, most notably data communications, wired and wireless networks, optical devices, and new vital fields such as cloud computing, data storage solutions, and ways to integrate technologies with artificial intelligence capabilities within many business scenarios.
The company is also active in providing sustainable solutions that suit business needs to rely on energy alternatives and clean energy resources to reduce the carbon footprint of its businesses and meet sustainability requirements. One of the most important things the company recently announced in this field is its zero-carbon workplace solutions, which apply Huawei's digital energy solutions within data centers and workplace networks, the most important of which are university campuses. The company announced that the Digital Technology Week in Sulaymaniyah is scheduled to move in the near future to Erbil and Baghdad, where the event will be organized over a week in each of them under the name “Iraq Digital Week 2024” in order to allow more experts and specialists to meet and communicate to explore the prospects for disseminating modern technology. And opportunities to effectively integrate them with artificial intelligence capabilities within industrial business scenarios and various other fields to advance the wheel of digitization in Iraq.
