Saturday, July 13, 2024
Minister of Transport announces contracting with Oliver Wyman to provide consulting services for the Development Road Project
Baghdad - WAA
Minister of Transport Razzaq Muhaibis Al-Saadawi announced today, Thursday, the signing of a contract with Oliver Wyman Consulting Company to provide consulting services for the Development Road Project, noting that the completion rate of the initial designs for the railway track for the project reached 80 percent and the expressway 75 percent.
Al-Saadawi said in a statement received by the Iraqi News Agency (INA): "Under the patronage of Prime Minister Mohammed Shia al-Sudani, we supervised today the contracting with Oliver Wyman Company to provide consulting services for the Development Road Project," indicating that "signing the contract reflects the government's seriousness in proceeding with the implementation of the strategic development road project."
He added that "the consulting company will help the ministry in marketing the project and supervising investment opportunities in it," noting that "the contract signed on behalf of the ministry by the Director General of Iraqi Railways, Younis Khalid Jawad, and on behalf of the consulting company by Pedro Oliveira, General Manager of Oliver Wyman Company, is the first of its kind in Iraq, in terms of providing financial and economic consulting services for strategic government projects."
He pointed out that "this contract will give international importance to the development road, which enjoys the care and attention of the Prime Minister," noting that "the completion rate of the initial designs for the railway track has reached 80 percent, while the completion rate of the expressway designs has reached 75 percent, and 92 percent of the soil investigations for the project."
Thecontract signing ceremony was attended by the Prime Minister's Advisor for Investment Affairs, Mohamed El-Naggar, and a number of officials in the ministry, according to the statement. LINK
LATEST FROM FREEDOM FIGHTER, 13 JULY
Freedom Fighter ©️
July 9, 2024
💥Cryptocurrency to be considered money 💰
💥Iraqs ports are digitizing - new rate will be required - “eventually”
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🟠GOLDILOCKS article breakdown
🏆Iraq testing the IQD in the FOREX market ‼️
💥Directly from the CBI
Activity transactions on the (FITR) platform"
Iraq is now showing transaction activities on the FITR platform. FITR are Exchange Traded Funds that come under the category of cross currency swaps.
Currency ETFs are exchange-traded funds that track the comparative value of a currency. These investment mechanisms allow people like you and me to gain exposure to the forex market.
"Cross-currency swaps are commonly used for fixed income investments where the cash flows are known with a high degree of certainty. Hedging currency risk with a cross-currency swap effectively creates a synthetic local currency denominated bond by converting the bond’s foreign currency denominated cash flows or risk into a stream of local currency payments. Cross currency swap hedging strategies can be tailored for either active strategies or passive buy-and-hold fixed income strategies."
Here is how the above quotation works. The Exchange Stabilization Fund (ESF) of the U.S. Department of the Treasury can purchase or sell foreign currencies.
The ESF also includes Special Drawing Rights (SDRs), which are international reserve assets created by the International Monetary Fund. The ESF can also enter into "warehouse" swaps with the Federal Reserve System.
The Federal Reserve has a repurchase facility for foreign and international monetary authorities, also known as the FIMA Repo Facility.
This allows foreign account holders to temporarily exchange Treasury Securities for dollars to meet potential liquidity needs.
"According to TreasuryDirect, Treasury Bills, Notes, Bonds, TIPS, and FRNs are transferable, so you can buy or sell them in the secondary market."
Yes, foreign currency, also known as forex, is traded on the secondary market, which includes equities and fixed-income instruments like bonds.
The foreign exchange market is a decentralized, over-the-counter (OTC) marketplace that determines the exchange rate for currencies around the world.
Let me end this dialogue where we began it. And, this is a direct quote from the CBI website, "Activity transactions on the (FITR) platform."
This gives us an idea of how close we are. Let me be clear, we do not know if these are testing transactions or actual transactions at this time. But, we do know they are in training for the use of this trading mechanism for a reason.
© Goldilocks
https://cbi.iq/news/view/2616
https://www.sec.gov/divisions/marketreg/mr-noaction/fitr110102.htm
https://www.schwab.com/etfs/types/currency-etfs
https://www.slcmanagement.com/ca/en/insights/all-insights/currency-risk-management-for-foreign-fixed-income-investments/
Marketing 600,000 FTTH fiber optic lines in Iraq
7/12/2024 Baghdad
The Ministry of Communications announced today, Friday, the development of a plan and schedule with the companies contracting with it, in coordination with the Baghdad Municipality and the governorates, to deliver and implement fiber optic lines (FTTH) in all regions and governorates, while indicating the marketing of 600,000 fiber optic lines.
The Director General of the General Company for Communications and Information Technology at the Ministry of Communications, Ali Yassin, said: “The Ministry of Communications, represented by the General Company for Communications and Information Technology, has implemented more than 3 million FTTH fiber optic lines, and 600,000 lines of them have been marketed so far,” noting that “the ministry has developed a plan for the transfer of the rest of the governorates and a schedule with the companies contracted with it for the purpose of implementing and completing the rest of the governorates of Iraq.”
Yassin added, "Coordination has been made with the Baghdad Municipality to facilitate the work of companies contracting with the General Company for Communications and Information Technology to implement and extend cables for FTTH technology, as well as coordination with the governorates to facilitate the task of companies contracting with the General Company for Communications and Information Technology and to set controls and standards for implementation."
He pointed out that "the areas where the lines have been completed, including those on the Karkh side (Al-Saydiya, Al-Jami'a neighborhood, and Al-Adl) and on the Rusafa side (Zayona, and Palestine Street), are all equipped with FTTH service, as are the governorates such as Karbala and Najaf."
He pointed out that "the advantages of the lines are improving the quality of service provided to citizens at competitive prices, especially since most citizens complain about poor Wi-Fi service."
Therefore, FTTH service on optical cable will save them from that.” LINK
Evening News with MarkZ. 07/12/2024
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