Sunday, June 23, 2024
Urgent The Sudanese issues a decision on reducing the official working hours in the institutions, the government is all, 23 JUNE
Prime Minister Mohammed Shia Al-Sudani issued today, Saturday, a decision to reduce the miloral shift in all government institutions.
A statement for his office, a copy of which was received by {Euphrates News}, said: “Taking into account the conditions of high temperatures, especially peak times, and in order to ease the burdens on citizens in general and employees in particular and rationalize the consumption of electric power, the Sudanese directed the following:
1. The time for the start of official working hours in all government institutions in the governorates, except the capital Baghdad, is at seven in the morning and the end of the work is at one o’clock in the afternoon.
2. Governors are empowered to disrupt official working hours in all government institutions, including central departments not associated with the governorate operating in their governorates on days when temperatures are (50) degrees Celsius and more.
3. Work in all government institutions continues in the capital Baghdad, in accordance with the timings mentioned in accordance with the Council of Ministers Resolution (24213) of 2024, taking into account the following two amendments:
A. Submit the time of the start of official working hours for one hour according to the classification indicated in the aforementioned decision.
B. Reducing the number of official working hours by one hour at the end of work, the end of work time is two hours before the applicable time before this directive (one hour due to submission, and an additional hour due to reduction).
4. Official working hours shall be in accordance with the timings mentioned in this directive, starting from Sunday 23/6/2024 until Thursday 29/8/2024 and then the applicable timings shall be reinted before issuing this directive.
5. The competent minister may extend the work outside the times mentioned in this directive in cases of necessity, and in accordance with the law.
"RV UPDATE" BY FRANK26, 23 JUNE
Frank26
Article: "Iraq is preparing to establish a project that will change the oil map.. Will it affect energy producers?"
The way this article is written, the amount of 6.5 billion IQD equivalent to $4.9 billion...is an example of the 3 zeros being lifted...We are going from trillions to billions because they lifted the three zeros...We are now in position for the next step of the monetary reform.
Question: "How much longer are they going to hide the budget?"
Good question because you see everything that's in the budget requires the new exchange rate. The HCL is coming out, which requires the new exchange rate...The ATMs have the lower notes, which require the new exchange rate...Sometimes my opinions I should keep to myself and this is one...
Changes in the digital economy and their impact in Iraq, 23 JUNE
Changes in the digital economy and their impact in Iraq
Economy News – Baghdad
Researcher in finance, development and academic affairs, Aqeel Jabr Ali Al-Mohamdawi
The beginning of the 21st century can be distinguished by the development of advanced digital technologies, a revolution in the field of information, and the acceleration of the processes of economic globalization. Currently, IT development plays an important role in society and the economy.
Individuals and society always strive to meet the growing needs in a particular area of activity, while IT expands the capabilities of all people, organizations, and nations.
IT has not only changed business and consumer behavior patterns in the modern economy, but has also laid the foundation for different processes: high-tech production and economic activity, financial service development, changes in educational concepts and standards, and digital transformation.
This infrastructure, formed on the basis of electronic interoperability, has become a new direction for the development of global technologies in which economic activity is based on digital technologies.
The digital economy promotes competition and competitiveness not only within the country, but also at the global level. Therefore, any country, including Iraq, that seeks to compete and build competitive performance standards in the global market must properly exploit the potential of the digital economy and promote digital progress.
Iraq should catch up, accelerate the adoption of digital technologies, and ensure that everyone has access to these technological benefits and modern information technology.
At the same time, fulfilling the promise of mainstreaming digital technology requires balancing risks and opportunities. As the world shifts to digital technology, preventive measures are critical to enhancing trust. Laws must be put in place to protect data, achieve cybersecurity, and create strong institutions to develop and enable interconnected and powerful digital systems that can verify identity, transfer payments quickly and safely, and exchange data responsibly.
To reap the benefits of technological and technical progress in digitization and artificial intelligence, and participate fully in the global digital economy?
In order to accelerate the pace of engagement in the digital economy society with deliberate and reliable steps, Iraq should adopt the methodology of the digital economy and modern financial digitization. Agencies:
1- Bridging the global digital divide: Despite the rapid spread of new technologies around the world, 37% of the population, a person, is still deprived of Internet services. In addition to a large percentage of Iraqis who are not involved in advanced information technology applications.
2. Preparing for future jobs: Innovation is radically changing the nature of the business: new jobs are emerging, and other jobs are evolving. In order to compete and contribute to raising the performance standards of the competitive performance of the digital economy, Iraq will have to prioritize education, vocational education and training, and build the digital, technical and technological skills of its workforce.
3. The importance of developing secure and reliable digital systems: With the world’s shift to modern digital technology and technologies, strengthening capabilities in areas such as cybersecurity, data protection and the maintenance of the modern digital financial and economic system has become more important than ever.
4- More funding to provide Internet services and IT applications for all: Broadband services for all will require more than $100 billion by 2030, and the public and private sectors cannot do so alone. Governments must make bold reforms, and the private sector can reduce costs and risks and increase efficiency, innovation and leadership.
Saturday, June 22, 2024
"RV UPDATE" BY KAPERONI, 23 JUNE
Kaperoni
Article quote: "new pipeline project at an amount estimated at approximately 6.5 billion Iraqi dinars ($4.9 billion)" Community Comment "The mathematical 'mistake' basically equals 1.32. This seems very very coincidental to the deletion of the zeros." Referencing the exchange rate in billions rather than trillions is an easy mistake to make. It happens all the time and everyone thinks there's something to it. Wrong.
Question: "What happens now that the auctions are soon to be over?
What does this mean for the Dinar holders out there Kap?" It means monetary policy is changing after 20 years to reflect the economic changes in Iraq. We'll have to wait and see what happens.
---
Floating the currency is the best option but only once they have created a diverse economy that is not dependent solely on oil.
...New currencies coming out in Iraq. Not true, the Iraqi dinar is the currency of Iraq. As far as any new smaller denominations, they will be introduced only as needed if and when the value increases and warrants so. There is no significant RV!
--...The dinar to float at well over a dollar. Unlikely, the dinar when it floats will be whatever the current exchange rate is and could rise gradually accordingly.
Community comment: "Today the cbi says there are no new printing of bills"
That is correct. The Central Bank does not randomly print currency unless it's to replace damaged or worn out notes. There is no need for a new currency unless it is warranted. Moving to digital will eventually reduce physical notes.
Question: ----"They have a very largebudget ,without an increase in rate how do they meet the projects that is lined up?"
External expenses are paid in dollars since their primary revenue is dollars. Dinar is used to pay salaries, etc. in country.
CCommunity Comment: "Hopefully in the next 5 yrs we will see an appreciation of the currency price, based on the last year of progress." I agree! Iraq has an excellent opportunity now to diversify their economy and develop the banking system.
Much of the float articles that we have seen have concerns about speculators that is because they are referencing dealers speculating within the country. That will not happen.
EXCERPTS FROM MARKZ, 2 OCT
EXCERPTS FROM MARKZ MZ: “ Kurdistan Regional Government unveils upcoming tripartite meeting to resume all oil exports” Things are moving. St...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
-
RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...