Tuesday, June 11, 2024
Parliamentarian: The Basra-Aqaba Oil Pipeline Does Not Achieve Economic Feasibility For Iraq , 11 June
Parliamentarian: The Basra-Aqaba Oil Pipeline Does Not Achieve Economic Feasibility For Iraq
Economy Information/Baghdad.. On Tuesday, the representative of Basra Governorate, Rafiq Al-Salhi, considered the agreement to extend the oil pipeline from Basra to the Jordanian port of Aqaba as a failed project that does not achieve any economic benefit for Iraq, and the only beneficiary from it is the Jordanian side.
Al-Salhi said in a statement to the Al-Ma’louma Agency, “The project to extend an oil pipeline from Basra to Aqaba is a failed project and will cost the country large sums of money because it has no economic benefit for Iraq and the only beneficiary is the Jordanian side.”
He added, "The shipping and pumping costs operations will drain large amounts of money and costs compared to exporting it from the ports of Basra, as the cost of exporting one barrel from the ports of Basra is estimated at 6 cents, while the cost of a barrel from the port of Aqaba exceeds four dollars. This is a waste of money, in addition to its security risks related to protecting... Pipeline from terrorism or international targeting.”
Al-Salhi pointed out that "the project faces widespread criticism from oil specialists, so we categorically refuse to initiate the project now or in the future."
It is noteworthy that the Basra-Aqaba oil pipeline project is a proposed project to transport crude oil from the Rumaila field, in southern Iraq, to Aqaba, in southern Jordan. Its length is 1,700 km. LINK
Coffee with MarkZ. 06/11/2024
"ABOUT THE BRICS" BY GOLDILOCKS, 11 JUNE
GOLDILOCKS
BRICS calls for enhanced use of local currencies in trade between member countries
More signals…
Russia says BRICS is prioritizing a platform for member states to transact in national currencies.
It is only a matter of time.
Read: https://x.com/goldtelegraph_/status/1800362482869125210?s=46\ ---
---
The BRICS ministers of Foreign Affairs met in Russia’s Nizhny Novgorod on June 10 and held a plethora of discussions, including an important one on the enhanced use of local currencies in trade and financial transactions between the BRICS countries.
https://www.thehindu.com/news/national/brics-calls-for-enhanced-use-of-local-currencies-in-trade-between-member-countries/article68275867.ece
Corporate Governance In Iraqi Banks... Enhancing Transparency And Efficiency, 11 JUNE
Corporate Governance In Iraqi Banks... Enhancing Transparency And Efficiency
Time: 06/10/2024 Read: 1,378 times {Economic: Al Furat News} Corporate governance is one of the most important factors that contribute to enhancing the performance and safety of the banking sector.
By applying sound governance principles, banks can improve their efficiency and risk management, and enhance investor and customer confidence.
In Iraq, banks have made great strides in applying corporate governance principles, with support from the Central Bank of Iraq and the Iraqi Deposit Insurance Company.
These efforts have contributed to improving the performance of the banking sector and increasing its transparency, which has had a positive impact on the Iraqi economy in general.
Singapore's experience in the field of corporate governance in the banking sector is an example to follow.
The Monetary Authority of Singapore (MAS) has implemented a set of stringent governance standards, including
disclosure and transparency requirements,
defining the responsibilities of the board of directors and executive management, and
periodically evaluating banks' performance.
These efforts have made Singapore a global financial center with an excellent reputation for transparency and integrity.
In Iraq, the Iraqi Deposit Insurance Company can play a greater role in enhancing corporate governance in banks, by encouraging banks to adopt international best practices in this field, and providing training and guidance to members of the boards of directors and executive management.
It can be said that the Iraqi Deposit Insurance Company represents an inspiring success story under difficult circumstances.
Through its vital role in protecting depositors’ funds and enhancing confidence in the banking system, the company contributes to building a strong and stable national economy.
As its efforts in development and innovation continue, the Iraqi Deposit Insurance Company promises to be an essential pillar in achieving sustainable economic development in Iraq.
https://alforatnews.iq/news/حوكمة-الشركات-في-المصارف-العراقية-تعزيز-الشفافية-والكفاءة
"RV UPDATE" BY TEXAS SNAKE, 11 JUNE
TEXAS SNAKE
A practicing doctor who is a citizen of Iraq living in Texas, a former client of mine has agreed to contact family members in country tonight to determine what the current in country rate of the IQD is today, It is almost 0530 in the morning and he asked if I could await his reply until it is closer to 0800 Iraq time. I will report once he calls me back.
Have received a number of projected exchange rates on Zim IQD and Dong but have been asked not to share but I believe we will be agreeable should these rates be actual.
---
Well folks banker feels very positive about what he hopes is confirmed in the morning when he calls me. Will report afterwards either way.
---
It was exoressed that several bond holder paymasters had been called to Reno however there is no confirmation of this thus far. Will open for a short time should anyone have some additional info.
------
JUNE 6
Texas Snake, [06/03/2024, 10:32:59 p. m.]:
Well it's about 0530 AM in country and the info I am receiving is that the new rates will appear either when the banks open today or they will wait for the FOREX opening on Wednesday to be able to publish the new rate in the Gazette Paper. Wish I had better intel but most of the UK is asleep now.
Not much reason to open as this is all I have at this time...
------
Well folks the information I have rec'ed today indicates a number of the large bondholder paymasters have been invited to Reno to begin exchanging their bond portfolios over the next 24 to 48 hour window.
We are then scheduled to begin receiving notification to begin scheduling appointments.
I have this info from 3 sources and am waiting confirmation from the banker, hopefully tonight or early AM. Will open for a short time so any members who have any news can share.
Thanks for all the members joining us and GOD Bless.
----
https://dinarevaluation.blogspot.com/2024/06/rv-update-by-texas-snake-6-june.html
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...