WOTS WED SEP 29 21
The Federal Court issues its ruling on the budget appeals
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| USD/IQD |  1434.4000 |  1485.7000 | 1458.1000 | 1458.0000 | 1458.1000 | -0.2000 | 15:04 |
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| USD/IDR | 14300.0000 | 14304.0000 | 14337.0000 | 14290.0000 | 14320.0000 | -21.0000 | 05:29 |
European markets bounce back after U.S. sees rate-induced sell-off; Stoxx 600 up 1.1%
Japan's Nikkei 225 falls more than 2%; Evergrande shares surge nearly 15%
Urgent The Federal Court issues its ruling on the budget appeals
The court decided to approve 6 contested paragraphs of the budget in favor of the government, and the appeal was received on 4 articles.
And it agreed to challenge the government by adding allocations to compensate employees' salaries, contracts and wages.
The court also agreed to appeal the refusal to impose 15 percent taxes on fuel and agreed to the government's appeal over the costs of oil licensing rounds.
The Federal Court approved the government's appeal by refusing to establish petrodollar funds.
Washington is in contact with OPEC about oil prices
The White House announced contacts with OPEC countries to discuss oil prices and address crude costs.
White House spokeswoman Jen Psaki said: "Continuing contacts with OPEC countries about oil prices, and discussing all available ways to address the cost of crude."
She added that Washington continues to work with international partners, including "OPEC", on the importance of competitive markets and pricing, as well as efforts to support economic recovery.
She indicated that the United States is working on all fronts to reduce oil prices, adding: "I assure you that we are not only interacting with OPEC, but we are studying all possibilities to reduce the cost of oil.
Al-Khafaji: Baker Hughes will start its business early next month
The Governor of Dhi Qar, Ahmed Al-Khafaji, announced that the American Baker Hughes Company will start its work in the Al-Gharraf and Nasiriyah fields early next month.
Al-Khafaji said in a statement reported by the official "Al-Sabah" newspaper and seen by "Al-Iqtisad News", that "the American company, Baker Hughes, will begin early next month to work on the largest investment project in Dhi Qar, to extract gas from the Al-Gharraf and Nasiriyah fields, as part of an agreement concluded with the company with a card of up to About 200 million cubic feet per day, and it may meet 20% of the local market's need for gas.
He added that "the project will reflect positively on the improvement of electrical energy in the governorate, which includes one of the largest gas stations for the production of electricity," noting that "it will revive a number of factories and laboratories that operate on liquid gas, some of which have stopped due to the shortage in gas supplies."
Al-Khafaji indicated that "the local government in Dhi Qar province stipulated that the company be employed in the project for manpower in the province, which means providing hundreds of job opportunities for the unemployed, especially graduates of gas and oil specializations," explaining that "the investment in the Nasiriyah and Al-Gharraf fields represents a qualitative leap in the field." The field of transition towards the production of clean energy, to maintain a safe environment, in line with the international agreements signed by Iraq in this regard.
It is noteworthy that Iraq burns about 17.91 billion cubic meters of gas in the atmosphere without benefiting from it to support the electric power generation sector, petrochemical plants and all gas-related industries
Iran is ready to extend the gas export contract to Iraq
Iranian Deputy Oil Minister for Gas Affairs Majid Janki announced, on Wednesday, during a meeting with senior officials in the Iraqi Ministry of Electricity, his country's readiness to extend the contract to export gas to Iraq, according to the "Shana" news agency of the Iranian Ministry of Oil.
According to the agency, "Jenki made it clear to Iraqi officials that Iran's relationship with Iraq is strategic, regardless of economic relations. We have deep and very important cultural and religious relations. The more we cooperate, especially in the energy field, the deeper and more objective these relations will be."
He described strong energy diplomacy as "one of the plans of the Oil Minister in the new Iranian government, and that the Iraqi side is required to abide by the current contracts and previous agreements," stressing that "Iranian Oil Minister Javad Oji is ready to consider the new proposals presented by the Iraqi Ministry of Electricity in order to extend the gas export contract. to Iraq".
Janki added that "negotiations with various parties to increase gas exports and trade are among the priorities of the new Iranian government."
On the 12th of this month, Iraqi Prime Minister Mustafa Al-Kadhimi visited the capital, Tehran, for the second time since taking office in late July last year, and the first was since the formation of the new Iranian government headed by conservative cleric Ibrahim Raisi, who won the presidential elections last June.
Iraq is one of the important markets for Iran, which is under severe economic pressure and sanctions, as it exports to it about 13 billion worth of goods annually, excluding electricity and gas exports.
Iran is asking the Iraqi government to pay debts of up to 6 billion dollars in arrears, which are bills owed by the Iraqi Ministry of Electricity, which is prevented by US sanctions from paying any amount in dollars to Iran.
Iraq relies on Iran in the field of energy, as it imports a third of its gas and electricity needs, due to its dilapidated infrastructure, which makes it unable to achieve self-sufficiency.
Iraq produces between 19 and 21 thousand megawatts of electric power, while the actual need exceeds 30 thousand megawatts, according to officials in the electricity sector.
Last month, Iraq faced a crisis in the provision of electricity due to a sharp decline in Iran's exports of natural gas to Iraq, to operate power plants.
CBI Update: Just a note:
including $32,400,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
9-28-2021 Intel Guru Frank26 We don't know what they're going to do once they raise the value. They may limit you to a certain amount of time you have to exchange those 3 zeros and you won't be able to take part in the International growth. Hey, 1 to 1 is fine.
9-28-2021 Newshound Guru Kaperoni ...the Central Bank of Iraq is selling bonds [means] that they're about to RV their currency LOL. First, there has been numerous articles stating the exchange rate will stay the same for the next year, second, iraq has over 80 trillion dinar in circulation...Iraq is saying just the opposite in keeping the exchange rate low to encourage investment and develop a market economy.
9-28-2021 Newshound Guru BobTheTaxMan They have to unload it. Isn't that a kick in the teeth...Use those gifting assignment. That's one way to help reduce those estate taxes is get that out/moved out. Now a little hint. Those have to be done and it's got to be finished before 3 years before you die and we need those dates done before the RV. So make sure you get those done now. The whole purpose is to reduce these estate taxes... [Post 2 of 2] [Note: At the appropriate time consult your tax professionals to create a tax strategy that's right for your unique circumstances.]
9-28-2021 Newshound Guru BobTheTaxMan Estate taxes dang it! These caps are always in the swing. I know Bernie wanted to take it to $1 million and there was actually a serious consideration to take it down to three but now they've settled it at 5 at least in the presentation we have going out for clearance now. Well 5 is a long cry from 11. A long cry. And with them wanting to limit us to 10 million dollars in our combined retirement accounts I have a lot of people who have got 30, 40, 50 million IQD sitting in their Roth. So what's going to happen to them? [Post 1 of 2....stay tuned]
9-28-2021 Intel Guru MarkZ [via PDK] I am still hearing from the Iraqi contacts that they still very much expect it this week. It gives me a warm fuzzy feeling but also a bit nervous as there is such expectations for tomorrow over there. Cross your fingers and pray we are going to see it.
9-28-2021 Newshound Guru Pimpy We've heard many many different things telling us that it's real and it will happen. I'm saying it's possible...feel good about your investment. You should. But also limit your risk. In other words don't go out there and go all willy-nilly buying millions and millions and millions of dinars. I only have 5 million...People freak out, 'you only have 5?' Yeah, that's it. It's not whether or not the IQD is a scam. We know it's not. It's the probability of an RI or an RV that we're actually betting on...feel happy about it...It's not a scam...I feel confident in the dinar that's why I talk about it. That's why I have it... [Post 2 of 2]
9-28-2021 Newshound Guru Pimpy Let's have that hard talk...you get these people...when you try to talk in detail about the subject and if it doesn't line up with their belief systems they just lose their freaking mind. It's really not necessary...this is going to help you out with all the naysayers...The currency itself is not a scam. The investment is not a scam. There are individual out there who use the currency to commit fraud against other individuals that's the scam. Is there going to be an RI or an RV? It's possible. [Post 1 of 2....stay tuned]
9-28-2021 Intel Guru MarkZ [via PDK] ...folks have asked “What’s going on” in regards to timing. Some people asked if it could be October 10th for the seating of the new government in Iraq. I am not hearing that from any of my folks...My redemption center folks are properly staffing people in the redemption centers for later this week...still getting fantastic news from...the redemption side of it.
9-28-2021 Intel Guru Frank26 Iraq is going to be a trading hub and the reason why is because they will stay on par with the American dollar...
Iraqi President: We were the arena of regional and international struggle with our money & lives
2021-09-26 13:16
Shafaq News / The Iraqi President, Barham Salih, considered, on Sunday, that Iraq was an arena for regional and international conflict with the money and lives of Iraqis, and this situation must be ended, while referring to the region’s need for a neighborly dialogue instead of a rupture.
Saleh said, in an interview with the American “CNN” channel, that “a secure and stable Iraq with full sovereignty can be an arena for the convergence of economic interests, infrastructure, railways, and gas and oil pipelines, between the actors in the region from Iran, Turkey and the Arabs.”
He explained that “the population of Iraq is now 40 million, and in 2050 it will be about 80 million, and the same is true with all countries in the region that are witnessing an increase in population, and these countries may not be able to find jobs for future generations if the current dynamic of conflicts in the region continues.” This also applies to Iran, Jordan and Egypt.
He noted that “the region is in dire need of cooperation and work on plans to build infrastructure, expand and integrate the economies of countries, combat climate change, and work to meet the population’s requirements for jobs, quality education and better health care,” adding, “We cannot wait until others solve this for us.” We have to work on it ourselves.”
Saleh added, “Our region needs dialogue, we are neighbors and we must engage in dialogue despite differences instead of a state of estrangement, and we are more optimistic than ever about turning the page on crises and disputes in the region.”
“The region is facing major problems, and while we focus on terrorism and extremism, we must realize the upcoming challenges related to the economic situation,” he added.
Regarding the situation in Afghanistan, the Iraqi president pointed out that “the lesson that took place after the events of Afghanistan and 20 years of American presence, gives the impression that no matter how much international support is, without the support of good governance, success and salvation cannot be achieved.”
However, “corruption is also an obstacle to good governance, security and stability, and that good governance must be at the heart of any international support in any region of the world."
