FRANK26: "IBBC FOR THE FIRST TIME IN BAGHDAD", 26 JAN

KTFA

FRANK26: "IBBC FOR THE FIRST TIME IN BAGHDAD".........F26

 

IBBC to Host Innovation Conference in Baghdad Next Month

 

1/25/2025

Baghdad – 

The Iraqi-British Business Council-IBBC announced on Saturday that it will organize an innovation conference next month in the capital, Baghdad, This announcement follows a successful visit by Prime Minister Mohamed Shia’ al-Sudani to the United Kingdom.

In a report followed by the Iraqi News Agency (INA), IBBC stated that “Iraq is stable, its economy is expanding and diversifying to meet the needs of the people. IBBC have been asked by the Iraq Prime Minster, Mr Al Sudani, to hold a Baghdad conference on Innovation”.

“Following a successful visit to the UK by the Prime Minister and several of his top ministers, a significant trade deal was announced with UK and Iraq, estimated at $15bn, across several sectors, to include cutting edge technology and knowledge transfer to Iraq. Some of these companies will be speaking at the Baghdad conference and the conference is dedicated to the theme of delivering innovation,” the statement added.

The statement further noted,"The purpose of the conference will showcase how Iraq is currently delivering Innovation and what might be possible to do soon, with the help of the Uk and International partners. IBBC has several members already delivering innovative solutions and products in Iraq, which will be showcased at the conference. We will be examining the power of knowledge transfer across all the panels and discussing what Iraq needs to do to deliver this internally, and the benefits of delivering innovation successfully ".
 
The statement elaborated that "In his paper on ‘ease of doing business in Iraq’ Professor Frank Gunter, who is speaking, pointed out that modernising and digitising the financial system, not only will enable swifter transactions, access to and international funds, but also reduce the opportunities for corruption. Both EY and Hogan Lovells will explain their work on modernising the Central bank systems of Iraq and consolidation among banks and banking reforms,” stressing that “1001 is a leading Anglo- Iraqi streaming company that has already signed up over 2 million subscribers, but it is focused on protecting Intellectual property in Iraq, and this is a new opportunity for Iraqis to produce content, derive income and tax receipts from subscriptions. We expect to be joined by companies discussing 5G technology, and provision of fast internet for the delivery of state-of-the-art communications and explaining the importance of cyber protection for Iraqi assets, communications, and defence”.

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REINALDO JC : 🚨IRAQ: Trump is Forcing Iraq CBI, 26 JAN

 REINALDO JC

IRAQ: Trump is Forcing Iraq CBI The Finance Committee of the Iraqi Council of Representatives made it clear on Friday that it is waiting for the Iraqi government to send the 2025 budget tables for approval, and while it expected the date of the launch of employee bonuses and promotions according to the applicable schedule, it confirmed that bonuses and promotions are a natural right for employees on the Ministry of Finance. Remember…the Iraqi parliament/house of representatives (HOR) is waiting to receive the budget files from Iraq Council of Minister (COM) but before it gets to parliament for them to APPROVE THE BUDGET TABLES/SCHEDULES the CBI MUST FIRST CHANGE/INCREASE THE IRAQ DINAR RATE!!! That’s the entire hold up with them playing Patti cake with one another. “Big brother” Iran wants iraq to continue using the dollar transferring to Iran on the black market for criminal activities around the world. Trump & new administration is saying No TF you will not continue using our dollar because of sanctions/Executive Order put in place to stop the dollar from entering Iraq to fully squeeze Iraq economy on top of the lower gas price & pressure the CBI to increase the Iraq Dinar Rate & therefore force the (HOR) to finally pass the budget for a smooth transition & trickle down effect into the World & iraq economy to finally provide their citizens purchasing power they’ve lacked for over 2 decades. CBI has NO choice but to give Iraq citizens & outside investors what we’re all been waiting for which is the…NEW EXCHANGE RATE!!!

FIREFLY: Forex would be international and like you want, the float!! ‪@DINARREVALUATION‬ #iraqidinar

 

FRANK26: "IQD FLOWS WITHOUT RESTRICTIONS... SO DOES IRAQI'S OIL", 26 JAN

 KTFA

FRANK26: "IQD FLOWS WITHOUT RESTRICTIONS... SO DOES IRAQI'S OIL".......F26

 

Kirkuk oil on the cusp of a major boom with British BP

1/25/2025

 

The administrative and financial assistant to the governor of Kirkuk, Jaafar Abbas Karim, revealed on Saturday new details regarding the contract between the Iraqi Ministry of Oil and the British company BP , while stressing that the cooperation will contribute to developing the North Oil Company and increasing its oil production .

Karim said in an interview with Shafaq News Agency, "The agreement with BP is an important step to develop the Iraqi economy, especially the economy in Kirkuk," indicating that "this matter will be reflected in developing the reality of the North Oil Company by increasing its oil production, in addition to exploiting the associated gas resulting from oil extraction."

Karim added that "the exploitation of associated gas will be through operating and implementing new power stations in Kirkuk within the contract," noting that "Kirkuk Governorate is in dire need of revitalizing its economic reality, especially the oil and gas file, which will be reflected in improving services and sectors, most notably electricity."

Karim pointed out that "the government agencies in the governorate are waiting for the company to start implementing the contract during the coming period."

On August 1, 2024, Prime Minister Mohammed Shia al-Sudani sponsored the signing ceremony of a comprehensive oil memorandum of understanding between the Ministry of Oil and BP to develop the Kirkuk fields .

On the Iraqi side, the agreement was signed by Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani, while on the BP side, it was signed by CEO Murray Auchincloss .

The memorandum includes the rehabilitation and development of four oil fields in Kirkuk, namely: Kirkuk field with its two domes (Baba and Avana), Bai Hassan field, Jambur field, and Khabbaz field, with the possibility of agreeing on other fields .

According to this memorandum, the government also aims to invest optimally in the energy sector to increase and enhance oil and gas production, including solar energy .

 

One month to start work

In the same context, oil expert Ali Khalil told Shafaq News Agency, "The agreement between the North Oil Company and the British company (BP) will enter into force within about a month for the purpose of starting to develop the oil fields in Kirkuk," indicating that "BP has submitted its initial plan, which includes conducting surveys and preparing the oil wells whose overall production has decreased and working to raise the level of production in them."

Khalil pointed out that "the current production of the oil fields in the North Oil Company ranges between 300,000 and 340,000 barrels, while the North Oil Company, about 15 years ago, was producing 750,000 barrels and was exporting about 500,000 barrels per day," stressing that "BP will contribute to increasing production according to accurate data."

On Wednesday, November 27, 2024, Kirkuk Governor Ribwar Taha revealed that the British company BP will begin work on developing the North Oil Company and its fields early next year, indicating that this will contribute to developing the oil and gas industry in the province .

Taha said in a statement to the agency at the time, "The presence of the British oil and gas company BP in Kirkuk is very important and they will invest in the gas sector, which is an important matter, and it will have a financial return and job opportunities for young people, as 96% of the workers in the Rumaila field in Basra within the work of the British company are Iraqis."

It is noteworthy that a responsible source in the North Oil Company had previously informed Shafaq News Agency (Wednesday, November 27, 2024) that a delegation from the British company "BP" had arrived in Kirkuk Governorate to hold intensive meetings with the company's management with the aim of reaching a final formula to begin developing the oil fields in the region

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NEWSROOM UPDATES WITH CHELLA, 26 JAN

 NEWSROOM UPDATES WITH CHELLA

Highlights

Summary

In this week’s Newsroom episode, host CH Smith provides a comprehensive overview of the latest developments in Iraq’s economy, politics, and tourism sectors. The episode highlights key meetings between Iraq’s President Abdul Latif Rasheed and global leaders, particularly Klaus Schwab of the World Economic Forum. They discuss Iraq’s ongoing economic reforms and the importance of international cooperation. Additionally, the segment addresses tensions between the Kurdistan Regional Government (KRG) and Baghdad regarding oil exports, advancements in Iraq’s financial infrastructure, and the country’s growing appeal for foreign investments, particularly in tourism. The Central Bank of Iraq is actively working on enhancing financial accessibility and security through new banknote features and electronic payment systems. The episode also touches upon recent legislative progress and the implications of the United States’ political landscape on Iraq’s future economic partnerships.

• 🌍 International Collaboration: President Rasheed’s meeting with Klaus Schwab emphasizes Iraq’s desire for economic integration and collaboration with global leaders.
• ⛽ Oil Export Tensions: Disputes between the KRG and Baghdad over oil export regulations highlight ongoing economic challenges.
• 💳 Financial Accessibility: The Central Bank of Iraq’s measures to enhance financial services reflect a commitment to improving economic inclusion.
• 📈 Unified Accounting Standards: Iraq’s adoption of international accounting practices signals a move towards greater transparency and foreign investment attraction.
• 🚀 Tourism Growth: The UK’s downgrade of Iraq’s security risk level indicates increasing confidence in the country’s stability, boosting tourism prospects.
• 💼 Legislative Progress: Recent votes in Iraq’s House of Representatives mark a significant step in addressing legislative gridlocks and facilitating economic reforms.
• 🤝 US-Iraq Relations: The inauguration of President Trump and his administration’s focus on Middle East peace could foster stronger economic ties with Iraq.

Key Insights

• 🌐 International Economic Integration: President Rasheed’s discussions with Klaus Schwab underline the importance of global partnerships for Iraq’s economic prosperity. By advocating for international investment and collaboration, Iraq aims to stabilize its economy and improve living conditions for its citizens. This strategic move may open doors for foreign businesses and assist in Iraq’s long-term recovery and development.

• 🛢️ Ongoing Oil Export Disputes: The tensions between the Kurdistan Regional Government and Baghdad regarding oil exports reveal deep-seated political issues that impact economic stability. The KRG’s rejection of unilateral changes to oil export laws indicates a need for a more cooperative approach to resource management. Resolving these disputes is critical for ensuring that both regions benefit from Iraq’s natural resources and for fostering national unity.

• 💵 Strengthening Financial Infrastructure: The Central Bank’s initiatives, including the introduction of new banknote features and the expansion of cash delivery services, reflect a commitment to enhancing the financial environment in Iraq. By promoting financial accessibility and trust in banking systems, these efforts not only combat counterfeiting but also support economic growth, potentially attracting foreign investments.

• 📊 Adoption of International Standards: The Federal Supreme Audit Bureau’s introduction of a unified accounting system aligns with international norms, promoting greater transparency in Iraq’s financial practices. This initiative is crucial for building investor confidence, as it allows for clearer comparisons between Iraq’s financial health and that of other nations, thus enhancing its appeal to foreign investors.

• 🌟 Tourism Sector Potential: Iraq’s recognition as a stable country by the UK and its hosting of significant events like the Arab Summit in 2025 reflect a growing confidence in its tourism sector. The government’s focus on improving security and infrastructure will likely attract international tourists and business investments, contributing to economic diversification and resilience.

• 🏛️ Legislative Developments: Recent legislative votes in Iraq’s parliament signify a breakthrough in addressing longstanding political disputes. The passage of controversial laws could lead to significant reforms in personal status and property rights, promoting a more conducive environment for economic activity and investment, while also addressing the needs of the population.

• 🇺🇸 Impact of US Politics on Iraq: The inauguration of President Trump and his administration’s focus on Middle Eastern relations could lead to enhanced economic collaboration between the US and Iraq. The potential for increased US investments in the region, particularly in the Kurdistan area, may provide Iraq with much-needed financial support and stability, allowing for further development and growth.

In conclusion, the developments covered in this week’s episode reflect a dynamic landscape in Iraq, marked by efforts to improve economic stability, enhance international cooperation, and address internal disputes. The interplay between domestic reforms and international partnerships will be critical in shaping Iraq’s future economic trajectory. As these stories evolve, they will have significant implications for the region and its role on the global stage.

MARKZ: They are on the fully international forex!! ‪@DINARREVALUATION‬ #iraqidinarinvestor #iraqidinar

 

FRANK26: "LOL... YOU FUNNY!!!", 26 JAN

 KTFA

FRANK26: "LOL... YOU FUNNY!!!".......F26

Parliamentary Finance: The government must expedite sending the 2025 budget tables

1/25/2025

Information / Baghdad..
 
Today, Saturday, the Parliamentary Finance Committee called on the government to expedite sending the 2025 budget schedule, warning against delaying sending the schedules to Parliament. 
Committee member Moeen Al-Kazemi said in a statement to Al-Maalouma Agency, "The 2025 budget schedules do not take a long time, considering that the Ministry of Planning has all the indicators, priorities and numbers regarding the investment aspect and what it needs for ongoing projects during the current year in addition to new projects." 

He added, "The Ministry of Finance has a vision of the operational aspect in terms of salaries and other governing and political expenses, and the government can complete the schedules within a week unless it wants to delay the schedules, as happened during the year 2024."

He pointed out that "Parliament approved the mechanism for disbursing the three-year budget, which ensures the continuation of operational spending according to the "1/12" system, while work will continue on investment projects."

He pointed out that "the delay is attributed to the government and thus negatively affects the performance of the ministries," stressing "the need to expedite sending the 2025 budget schedule to Parliament." 

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