Friday, July 5, 2024
Iran, Turkmenistan sign agreement to supply Iraq with gas
The official Iranian media reported on Thursday that, following extensive discussions, an agreement regulating the exchange of gas between Iran and Turkmenistan was signed.
On Wednesday, Iran and Turkmenistan signed a contract to exchange gas for Iraqi use.
The Iranian Diplomat to Turkmenistan, Ali Mojtaba Roozbahani, and the Director of the public gas organization of Turkmenistan (Turkmengaz), Maksat Babayev, went to a service held to sign the agreement.
A joint assertion gave by the two sides referenced that Turkmenistan and Iran have been working for a really long time to foster collaboration in the gas area in light of shared interests.
The assertion outlined that the valuable experience of participation in gas trades from Turkmenistan to Iran and afterward to a third nation gave a strong stage to expanding the extent of reciprocal collaboration around here.
WHAT IS A TIER ONE BANK? BY GOLDILOCKS, 5 JULY
GOLDILOCKS
WHAT IS A TIER ONE BANK?
"Banking regulations known as the Basel Accords require banks to have different types of capital on hand. These liquid and cash assets balance out the risk-weighted assets that banks hold. This increases banks' stability, which increases the stability of the overall financial system. "
"Tier 1 capital is the primary funding source of the bank. Typically, it holds nearly all of the bank's accumulated funds. These funds are generated specifically to support banks when losses are absorbed so that regular business functions do not have to be shut down. Under Basel III, the minimum tier 1 capital ratio is 10.5%."
"What Do the Basel Accords Do?"
"The Basel Accords are international banking regulations that ensure banks have enough capital on hand both to meet their obligations and absorb any unexpected losses. They are set by the Basel Committee on Bank Supervision (BCBS)."
© Newshounds News™
Read more: Investopedia
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"IT'S NOT IMPORTANT BECAUSE WE HAVE A NEW EXCHANGE RATE" BY FRANK26
KTFA
FRANK26:"IT'S NOT IMPORTANT BECAUSE WE HAVE A NEW EXCHANGE RATE"...........F26
Despite the rise in the dollar, Saleh: The parallel market today is not important
7/3/2024
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed the stability of the dollar exchange rate against the dinar, despite its significant rise today, reaching 1,500 dinars.
Saleh told Al Furat News Agency, "The fixed exchange rate system in Iraq is based on the highest international reserves in the history of Iraq and its monetary policy, as foreign currency covers more than 100% of the total currency currently issued." He added,
"In light of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level, which has become stable in its components and trends due to the influence of the official exchange rate factor currently dominating the financing of foreign trade (imports), amounting to 1320 dinars per dollar."
He pointed out that "it is a stable trend for the exchange rate and the stable external value of the dinar revolves around it, which is embodied by the state of stability in the relative prices of goods and services to a large extent, as annual inflation in our country does not exceed 3%."
Saleh continued, "Based on the above, and in light of the strength of the foreign reserves supporting the Iraqi dinar, the value of which as liquid foreign assets exceeds $100 billion, the official exchange market, as a general trend, will remain dominant in containing any colored noise or ambiguous information that affects the parallel exchange market in short periods due to urgent international or regional political events here and there or in adapting some instructions regulating the monetary market. Stressing that after the decline of the dollarization phenomenon in internal transactions, especially in contracts, obligations and payments within the country since last year and its legal prohibition."
He stressed that "the parallel exchange market has become such that its general effects today only form a narrow economic scope of prohibited transactions practiced by informal markets and at a rate of 10% of the total supply and demand transactions for the currency."
He stressed that "the stability of the exchange rate of the dinar to the dollar that the country is witnessing even in the secondary markets above is a real and solid stability, and is derived from the strength of the impact of the price and quantity factors of the monetary and financial policies and their integration in imposing overall price stability in the country and containing inflationary expectations that were caused by the parallel exchange market forces during the past years."
He noted that "the irregular secondary market, due to the freedom of external transfer, is affected by the official exchange market rate, whose operations are constantly expanding in favor of dealing with the fixed official exchange rate."
Raghad
"ABOUT THE IRAQ'S ACCESSION TO THE WTO" FROM JAMES MENDEZ FACEBOOK PAGE (ENGLISH AND SPANISH), 5 JULY
JAMES MENDEZ: TOOOMMMAAAAAAAAAAAA!!!!!
FROM THE WTO WEBSITE:
During the visit to Baghdad, the President was informed that initial market access offers for Iraqi goods and services would be distributed soon, in preparation for the third meeting of the Working Group in mid-2024.
The Ministry of Commerce team “will take real steps that will shorten the path to Iraq's accession to the World Trade Organization and ultimately benefit from the advantages that this accession offers,” Minister Al Ghurairi said.
THU
JUL 18 10:00
Iraq Accession Working Group
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TRANSLATION SPANISH:
JAMES MENDEZ: TOOOMMMAAAAAAAAAAA!!!!!
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