The President of the Republic receives a message from his Chinese counterpart
President of the Republic, Abdul Latif Jamal Rashid, received today, Tuesday, at the Baghdad Palace, the Ambassador of the People's Republic of China to Iraq, Cui Wei, and received from him a message from Chinese President Xi Jinping, congratulating him on his birthday, wishing him success and guidance.
The Chinese President also stressed, according to a presidential statement, his great interest in developing relations with Iraq and his readiness to make joint efforts with President Rashid to continue deepening friendly cooperation and raise the Sino-Iraqi strategic partnership relations to higher levels.
The President of the Republic conveyed his sincere thanks and greetings to President Jinping for his generous feelings, praising the historical relations and bilateral cooperation between the two friendly countries.
During the meeting, the available potential to consolidate the growing relations between the two countries was emphasized, as President Rashid pointed to the need to expand the horizons of joint cooperation in the economic, technological and investment fields, especially the development of infrastructure and services, stressing Iraq's welcome of the diverse Chinese expertise to contribute to the development and growth of the industrial, agricultural and education sectors.
In turn, the Chinese Ambassador, Cui Wei, affirmed his country's commitment to strengthening its relations with Iraq in all fields.
The ambassador also reviewed the political, economic and industrial conditions in China, stressing that the recently held Communist Party meeting focused on strengthening reforms, improving production in all fields and opening up to countries of the world.
Media Department of the Presidency of the Republic link
ANALYSIS
The President of the Republic of Iraq, Abdul Latif Jamal Rashid, received a message from Chinese President Xi Jinping through Chinese Ambassador Cui Wei on Tuesday at the Baghdad Palace. President Jinping's message congratulated President Rashid on his birthday and expressed his best wishes for his success and guidance.
In the message, President Jinping highlighted his commitment to enhancing Sino-Iraqi relations and offered to collaborate closely with President Rashid to further deepen the strategic partnership between the two nations.
President Rashid expressed his gratitude for President Jinping’s kind words and praised the longstanding relationship and bilateral cooperation between Iraq and China.
During their meeting, President Rashid emphasized the importance of expanding cooperation in various fields, including economic, technological, and investment areas. He particularly noted the potential for Chinese expertise to contribute to Iraq's development in infrastructure, industry, agriculture, and education.
Ambassador Cui Wei reiterated China's commitment to strengthening relations with Iraq and provided an update on China's political, economic, and industrial conditions. He highlighted recent reforms and efforts by the Communist Party to improve production and enhance global openness.
For further details, you can visit the Media Department of the Presidency of the Republic's link.
🇺🇸💥🇺🇸. Thankfully the Treasury Department has taken over the federal reserve and their building is boarded up in D.C. 🇺🇸💥🇺🇸👇👇
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The U.S. military will permanently leave Iraq after 20 years — starting next month! 🚨👀🚨
This is BIG NEWS! Along with the Governor of the Iraqi Central Bank resigns. Trump stated that before leaving Iraq, we would be paid back in full. Revaluation for the Iraqi Dinar would not start until the U.S. military leaves the country. We are closer than ever with the world currencies being revalued!
End of US Military Presence in Iraq to Be Declared Soon
Iraq signs strategic agreement to modernize trading mechanisms in cooperation with an Egyptian company
The Iraq Stock Exchange announced today, Wednesday, the signing of a strategic agreement to modernize trading mechanisms in cooperation with an Egyptian company.
A statement by the Iraqi Stock Exchange received by the Iraqi News Agency (INA) stated, "In a step aimed at developing and improving the investment environment in Iraq, and under the auspices of the Iraqi Securities Commission, the Iraq Stock Exchange signed a cooperation agreement with the Egyptian Company for Information Dissemination, after intensive discussions that lasted for more than six months."
He added, "The agreement includes licensing, use and maintenance of the remote trading system for investors ( OMS ), broker management ( Back Office ), and portfolio management for investors, for a period of five years."
He added that "signing this agreement represents a qualitative shift in the development of the Iraqi stock market," indicating that "Iraq is committed to providing the latest technologies to investors, which contributes to enhancing confidence and attracting more investments to the Iraqi market."
For his part, the CEO of the Iraq Stock Exchange, Faisal Al-Haimus, pointed out, “The importance of this step, as the remote trading system is a vital addition to our ongoing efforts towards developing the market’s infrastructure. The system’s experience in the Egyptian Stock Exchange has proven its efficiency over the past five years, and we are excited to see its positive impact on our market.”
He pointed out that "the new system includes smart applications that aim to facilitate trading operations and improve the investor experience, which reflects the commitment of the parties concerned to developing the financial sector in Iraq and achieving sustainable growth." link
ANALYSIS
The Iraq Stock Exchange has recently taken a significant step towards modernizing its trading mechanisms by signing a strategic agreement with an Egyptian company. This agreement, announced today and facilitated under the oversight of the Iraqi Securities Commission, aims to enhance the investment environment in Iraq.
Key details of the agreement include:
Licensing and Maintenance: The Egyptian Company for Information Dissemination will provide licensing, usage, and maintenance of several systems for the Iraqi Stock Exchange. This includes:
Remote Trading System (OMS): Allows investors to trade remotely.
Portfolio Management: Assists in managing investors' portfolios.
Duration: The agreement is set for five years.
The initiative marks a notable advancement for the Iraqi stock market. Faisal Al-Haimus, CEO of the Iraq Stock Exchange, emphasized that the introduction of this remote trading system, which has proven successful in Egypt, will significantly enhance the market infrastructure. The system's smart applications are expected to streamline trading operations and improve the overall investor experience, reflecting Iraq's commitment to integrating modern technologies and fostering sustainable growth in its financial sector.
Happy Wednesday folks. Once Kamala is officially announced as the interim “President”, we will see manufactured chaos in America for about three months. But during that time, the currency reset.
Waiting on Ali Allaq to be officially removed as the CBI governor and replaced. This should all occur at the same time. Watch for XRP price to move as well during this time.
#dominoeffect
@JonDowling
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Things continue to heat up! Will Iran take the US offer to remove all the sanctions, or will they go full steam ahead with the attack on Israel? Something has to give soon and it will.
Iraq Loses One Trillion Dinars Annually.. MP: Corruption In Ports Is "Dangerous"
Economy |Baghdad Today – Baghdad Member of Parliament Yasser Al-Hussaini revealed, today, Wednesday (August 14, 2024), that Iraq is exposed to a loss of one trillion dinars annually due to corruption in the ports, while describing what is happening in the ports as "dangerous."
Al-Hussaini said in an interview with Baghdad Today, "The parliamentary investigation committee continues to collect documents and evidence that prove day after day the extent of the major violations of public funds, and the documented numbers confirm beyond doubt that they are higher than what we mentioned previously in terms of losses and financial violations in general."
He added, "What is happening in the ports is the mortgage of this large economic facility to companies affiliated with political forces for decades through contracts that oblige the government, noting that Iraq loses nearly a trillion dinars annually that goes into the accounts and pockets of companies."
Al-Hussaini pointed out that "what is happening in the ports is dangerous and what we have revealed so far raises many question marks, stressing that all investigations and documents will be submitted to the Iraqi judiciary."
On Friday (July 12, 2024), the head of the Parliamentary Order 160 Committee to investigate suspicions of corruption in Iraqi ports, Yasser Al-Hussaini, revealed 3 results that he described as “bitter” in the Basra ports file.
Al-Husseini told Baghdad Today, "What we are doing is perhaps the most important parliamentary investigation to preserve the wealth of Iraqis by addressing a sensitive and dangerous file due to the huge amount of money and the administrative and financial violations that have been detected."
He added, "Investigations are continuing into the file of suspicions of financial and administrative corruption in Iraqi ports, despite the existence of three-dimensional pressures from influential political and governmental parties in a single attempt, which is to undermine the work of the committee as much as possible and obstruct what it is doing."
The MP said, "Three bitter facts were revealed: the waste of 20 trillion dinars is not suspicion, but a fact. There is a lot of evidence accompanied by long decades that mortgage Iraq's wealth to corrupt political parties. In addition, the extent of the pressures revealed the identity of those who want to keep the scourge of corruption eating away at the ports to sustain their coffers with money, without caring about the harm it causes to the Iraqis."
He considered that "the investigation into the Basra ports file is the most dangerous and important and is a courageous step in confronting the scourge of corruption that has large arms," stressing that "what we seek is to preserve public money and stop the draining of the country's wealth."
Member of the Parliamentary Integrity Committee, Ali Turki, had previously stated that the committee formed to investigate corruption files in the ports had failed in its mission.
On April 15, the acting Speaker of Parliament, Mohsen Al-Mandalawi, decided to form a parliamentary committee to investigate “violations” at Iraqi ports.
The committee is formed under the chairmanship of MP Yasser Hashem Al-Hussaini and the membership of MPs Faleh Al-Khazaali, Hassan Salem Abdul Rahim Al-Shammari, Mona Al-Sabil, Siban Aziz Soran Omar Muwaffaq Hussein Saud Al-Saadi Abdul Amir Al-Mayahhi Alaa Al-Haidari Ali Al-Maksousi, and Rafiq Al-Salihi. It is responsible for investigating violations in Iraqi ports, and the committee will be supported by employees from the ministry and the relevant bodies according to the committee’s needs, and the results of the investigation will be presented to the House of Representatives.” LINK
ANALYSIS
The recent revelations about corruption in Iraq's ports have exposed a severe economic crisis, with the country reportedly losing one trillion dinars annually. This loss is attributed to corrupt practices involving companies linked to political forces, which have allegedly been siphoning off public funds through long-term contracts.
Member of Parliament Yasser Al-Hussaini has described the situation as "dangerous" and outlined that the parliamentary investigation is uncovering significant financial violations. He emphasized that these investigations are crucial for addressing the misuse of Iraq's resources and stopping the drain on the country’s wealth.
The investigation has revealed three major issues: the massive waste of 20 trillion dinars, the involvement of corrupt political parties, and the substantial pressures exerted to hinder the investigation’s progress. Despite these challenges, the committee, led by Al-Hussaini, continues to pursue accountability and transparency, aiming to bring the perpetrators to justice.
The corruption in the ports has been a persistent issue, and the parliamentary committee's efforts represent a crucial step toward addressing and mitigating these problems. The results of the ongoing investigation are expected to be submitted to the judiciary, potentially leading to significant legal and administrative reforms.
