The Kurdistan Regional Government announces the suspension of work for Saturday and Sunday, 19 OCT

The Kurdistan Regional Government announces the suspension of work for Saturday and Sunday

Shafaq News / The Kurdistan Regional Government announced on Friday the suspension of official working hours on Saturday and the day after tomorrow, Sunday, in conjunction with the elections of the Kurdistan Parliament of Iraq in its sixth session.

The Information and Information Department of the regional government said in a statement received by Shafaq News Agency; that due to the Kurdistan Parliament elections in its sixth session, October 19 and 20 will be an official holiday in all institutions and government departments in the region.

1,091 candidates in the Kurdistan Region of both sexes compete for 100 seats, five of which are “Kota” for components after being 11 seats, which was reduced by a decision of the Federal Supreme Court (the highest judicial authority in Iraq)

The number of seats reserved for women according to the electoral law must be at least 30.

The total number of voters in the Kurdistan Region is 2,899,578 voters, of whom 215,960 are eligible to vote in the special ballot, and the remaining 2,683,618 voters will vote by universal suffrage next Sunday.

https://www.shafaq.com/ar/كوردســتانيات/حكومة-اقليم-كوردستان-تعلن-تعطيل-الدوام-ليومي-السبت-وال-حد

TIDBITS FROM MILITIAMAN, 19 OCT

 Militia Man 

 What are we waiting for? 

 We're waiting for Alaq to make an announcement I believe in some shape or form.  It's going to be his job.  He's the Central Bank of Iraq governor. 

Article quote: "The Minister of Finance and The US ambassador today discuss efforts to achieve economic reforms..

.They strengthened bilateral relationships between the two United States and Iraq with a focus on economic cooperation."  

I like that part. "The meeting discussed the development road project that connects Iraq to Europe through Turkey and is one of the largest strategic and vital project making Iraq the link between Asia and Europe."  

That is unbelievable and it's given a finality to it.  I like it...

LATEST CBI INTEL FROM MNT GOAT @DINARREVALUATION #iraqidinar

599 Iraqi Companies and 27 Foreign Branches Registered in Sept, 19 OCT

 599 Iraqi Companies and 27 Foreign Branches Registered in Sept

By John Lee.

Iraq’s Ministry of Trade announced the registration of 599 national companies and 27 branches of foreign companies during September,

The Companies Registration Department, led by Rashad Khalaf Hashim, also issued several decisions, including amendments to contracts of joint-stock companies, adjustments to capital, and the merging and liquidation of companies.

Additionally, 897 companies were officially documented, and 337 Iraqi and 18 foreign companies were referred for legal investigation due to regulatory violations.

The department also reviewed the final accounts of 1,922 national companies and 121 foreign branches, processed capital adjustments for 209 companies, and handled various company-related formalities including mergers and liquidations for 580 firms.

(Source: Ministry of Trade)

https://www.iraq-businessnews.com/?p=225711

TIDBIT FROM FRANK26, 19 OCT

 Frank26   

[Banks] know better than to keep lying to you...

They're not going to admit anything but they're not going to lie to you anymore and say it's a scam because that was a flat out lie...

The atmosphere in the banks [has changed], stop telling them it's a scam...

MARKZ: What Happens If Iraq Goes First ?:CONCERNS ABOUT " THE DOUBLE DI...

Among them is about exchange rates. The most prominent advantages of increasing Iraq’s share in the International Monetary Fund, 19 OCT

 Among them is about exchange rates. The most prominent advantages of increasing Iraq’s share in the International Monetary Fund

Economy News – Baghdad

The Prime Minister’s Advisor for Financial Affairs, Mazhar Mohammed Saleh, confirmed on Saturday that increasing Iraq’s share of international currency is a step towards facing economic challenges and the stability of the dinar, while pointing out that it is a tool against exchange rate fluctuations, inflation problems and enhancing investor confidence in the Iraqi economy.

Saleh told the official agency, followed by “Economy News”, that “Iraq keeps a reserve of gold within its foreign reserves, which is part of the official reserves of the Central Bank of Iraq, as cash gold is a means of supporting the value of the Iraqi dinar and achieving the desired economic stability.”

He added: “When inflation rises and the value of foreign currencies decreases, the price of gold usually rises, so gold is a hedge tool against inflation or currency depreciation, and is also a pattern of long-term investment and contributes to diversifying the country’s sovereign investment portfolio, because it is a stable asset compared to currency volatility.”

He continued: “Our country keeps about 150 tons of gold and constitutes a percentage of the country’s foreign currency reserves, as this reserve is managed according to the guidance evidence issued by international multilateral financial organizations, and it represents a hedging tool and a safe and suitable haven as an important part of the national currency cover.”

He pointed out that “the monetary authority in our country has sought in recent years to increase its gold reserves, in order to face economic challenges and ensure the stability of the Iraqi dinar.”

He pointed out that “gold remains a protective tool against fluctuations in exchange rates and inflation problems, and also contributes to strengthening investor confidence in the Iraqi economy.”

Earlier, the Council of Ministers approved an increase in Iraq’s share in the International Monetary Fund equivalent to (831.900000) SDR, or the equivalent of (1.45025127) trillion dinars, according to the exchange rate on October 8, 2024, provided that the amount of increase in the allocations for 2025 is guaranteed, and that the proposed increase will lead to an increase in Iraq’s share in the International Monetary Fund by 50% of the previous quota, and to increase Iraq’s voting power.

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Added 2024/10/19 – 11:26 AM

https://economy-news.net/content.php?id=48887