Monday, October 28, 2024

HIGHLIGHT NOTES FROM SANDY INGRAM, 28 OCT

 SANDY INGRAM

Summary

Iraq’s transport ministry has suspended all flights due to regional tensions following Israeli strikes on Iranian targets, impacting air travel indefinitely.

Highlights

  • ✈️ Flight Suspension: Iraq’s transport ministry halts all airport flights until further notice.
  • 🌍 Regional Tensions: The suspension follows Israeli military action against Iranian sites in Syria and Iraq.
  • πŸ’₯ Explosions Reported: Initial reports of explosions in Basra were denied by Iraqi officials, attributing them to Iran.
  • πŸ‡ΊπŸ‡Έ U.S. Troops Presence: U.S. troops remain stationed in Iraq amidst rising tensions, providing some hope for stability.
  • πŸ’± Dinar Stability: Despite the turmoil, the Iraqi dinar exchange rate remains stable for now.
  • πŸ“Ί Ongoing Updates: The channel commits to providing continuous updates on Iraq’s situation and economy.
  • 🌟 Hope for Safety: There is cautious optimism regarding the safety of the Iraqi people during this crisis.

Key Insights

  • 🚫 Impact on Travel: The indefinite suspension of flights signifies a severe impact on both domestic and international travel, affecting business and tourism.
  • ⚔️ Escalating Conflicts: The Israeli strikes illustrate the escalating conflict between Israel and Iran, with Iraq caught in the middle, raising concerns about regional stability.
  • πŸ” Misinformation Concerns: The quick denial of the Basra explosions highlights the volatile nature of information in conflict zones, where misinformation can exacerbate tensions.
  • πŸ›‘️ Military Presence Significance: The presence of U.S. troops is a double-edged sword; while it may deter further aggression, it also complicates Iraq’s sovereignty and internal politics.
  • πŸ’Ή Economic Resilience: The stability of the Iraqi dinar amidst chaos suggests a degree of economic resilience, though the long-term outlook remains uncertain.
  • πŸ“’ Public Awareness: Continuous updates are crucial for public awareness, ensuring that citizens stay informed about the evolving situation.
  • 🀝 Community Safety: The hope for the safety of the Iraqi people emphasizes the human aspect of geopolitical conflicts, reminding us of the real lives affected by these events.

SANDY INGRAM: Breaking News Iraqi Airspace Shut Down #iraq

CBI imposes +$190M in fines on banks, exchange firms, 28 OCT

 CBI imposes +$190M in fines on banks, exchange firms


Shafaq News/ The Central Bank of Iraq (CBI) announced, on Sunday, that it imposed more than 249 billion IQD (about $190 million) in fines on banks and non-banking institutions, such as exchange companies, over the past nine months.


Official data showed that penalties on financial institutions from January to the end of September reached 249,889,756,016 IQD. Additionally, 221 administrative sanctions—including warnings, notifications, and grace periods—were issued to various banks and non-banking firms.


The data indicated that January saw the highest level of fines, totaling 98,277,722,062 IQD ($74,997,180), alongside 17 administrative penalties. In contrast, September recorded the lowest, with fines reaching 2,331,465,048 IQD ($1,779,175) and 13 sanctions.

The list did not disclose the names of the fined institutions.

Furthermore, the Association of Investors in the Iraq Stock Exchange recently criticized CBI’s increased penalties, noting potential impacts on the profitability of investors in the affected banks' stocks.

MBRIDGE, ONE NETWORK THAT WILL PROVIDE FOR INTERNATIONAL PAYMENT SYSTEM PROTOCOLS IN IRAQ BY GOLDILOCKS, 29 OCT

 GOLDILOCKS

Iraq is preparing to interface it's Digital Banking System to work with Projects such as mBridge. 


mBridge will enable Iraq to move forward with their local currency through direct bank to bank transactions.


This is one of many Networks our new Digital Economy will provide for International Payment System Protocols.


© Goldilocks

MILITIAMAN: MM&C News Reporting-Politics-Financial Reform-Billions Lost-Pressure-Int...

Prime Minister: The government is moving forward with the growth of the oil and gas sectors , 28 OCT

 Prime Minister: The government is moving forward with the growth of the oil and gas sectors

10/28/2024

Prime Minister Mohammed Shia al-Sudani discussed today, Sunday, with Oil Minister Hayan Abdul-Ghani al-Sawad the government's previous plans for the growth of the oil and gas sectors.

 The Prime Minister's Media Office stated in a statement, a copy of which was received by NRT Arabic, that "Al-Sudani received today the Minister of Oil, Hayan Abdul-Ghani Al-Sawad, in the presence of the Undersecretary of the Ministry of Oil for Distribution Affairs."

 He added that "Al-Sudani referred, during the meeting, to the government's previous plans for the growth of the oil and gas sectors, and the development of their projects within the government program, through the licensing rounds in which contracts were signed to invest in many oil and gas fields, in addition to investing in associated gas projects, and oil derivatives production projects."

Regarding cooperation with the OPEC Plus group, the meeting emphasized “the importance of partnership with oil-producing countries, with the aim of maintaining the stability and balance of global oil markets, and Iraq’s commitment to what was agreed upon within the group, including voluntary cuts and compensation for the increase in production, according to the updated schedule submitted by the Ministry of Oil to OPEC.”  LINK

TIDBITS FROM SANDY INGRAM, 28 OCT

 Sandy Ingram 

 [Reference Guru Sandy's WTO post from 3-22-2024 below] 

 What is the WTO and why does it matter

 The World Trade Organization is an international group that helps countries trade with each other fairly and efficiently. 

 Joining the World Trade Organization will help Iraq grow its economy by making it easier to buy and sell good with other countries.

---

  Sandy Ingram 

  Here's why joining the World Trade Organization is so important. 

 The WTO can open the door to new business opportunities, attract more investments, and create jobs.  

It's a major step towards boosting Iraq's economy and connecting with the world.  Iraq's Trade Minister...

just announced Iraq is back at the negotiating table working towards becoming a member of the WTO... 

[I'll] keep you updated on Iraq's WTO progress...

https://dinarevaluation.blogspot.com/2024/10/the-importance-of-iraq-joining-to-wto.html