Thursday, October 28, 2021

WOTS WED OCT 27 21 Winter threatens shop owners and earners in Karbala.. Criticisms of the management of the Iraqi economy

 WOTS WED OCT 27 21 Winter threatens shop owners and earners in Karbala.. Criticisms of the management of the Iraqi economy




There's no My FX Buddies Podcast today:

Publishes the dollar exchange rates on the local stock exchange on Wednesday, (October 27, 2021), according to the monitoring of specialists.   

 

Baghdad - Stock Exchange of struggle  

147,650  

....  

▪️The price in most Baghdad exchanges ▪️  

Purchase  

147,250  

Sale  

148,000  

———————— 

Basra - Bursa  

147,700  

——————— 

Erbil - Bursa  

147,500  

———————  

Sulaymaniyah - Bursa  

147,600  

——————— 

Mosul - Bursa  

147,500 





The Markets:
The Asian markets closed down NIK down by .03% HSI down by 1.57% SHANG down by .98%
The UK markets are currently trading in the red from .25% to .33% 
Our futures are currently trading down  DOW at 35,632 down  by .03% SNP at 4,561.75 down by up  by .08% NDX at 15,525.75 down  by .12%

Precious Metals:
Gold is red at 1787 Silver is red  at 24.01 Copper is red at 442 Platinum is red at 1017 
Brent 85 WTI  83   Bitcoin: 58,600  10 yr yield: 1.60

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1435.6000  1487.4000 1457.0000 1457.0000 1457.0000  -0.1000 11:55
 USD/VND  22755.0000  22763.0000 22750.6000 22749.9500 22749.9500  0.6600 00:36
 USD/CNY  6.3931  6.3951 6.3956 6.3806 6.3814  0.0110 05:17
 USD/KWD  0.3012  0.3022 0.3014 0.3013 0.3014  -0.0001 04:58
 GBP/USD  1.3733  1.3734 1.3780 1.3719 1.3762  -0.0029 05:17
 USD/IRR  42000.0000  42500.0000 42245.5000 42198.0000 42245.5000  -7.5000 00:00
 USD/IDR  14226.0000  14233.0000 14235.0000 14142.0000 14150.0000  73.0000 05:16

Things in the News:





Iraqi Articles:

Oil prices fall after US crude oil inventories fall 

link

Oil prices fell on Wednesday after industry data showed that crude stocks rose more than expected and fuel stocks rose unexpectedly last week in the United States, the world's largest oil consumer.

Brent crude futures fell 25 cents, or 0.3%, to $86.15 a barrel after closing at a seven-year high on Tuesday.

West Texas Intermediate (WTI) crude futures were down 26 cents, or 0.3%, at $84.39 a barrel after rising 1.1% in the previous session.

Reuters quoted market sources, citing American Petroleum Institute figures late on Tuesday, as saying: Crude oil stocks rose by 2.3 million barrels in the week ending October 22. This was more than expectations for a rise of 1.9 million barrels.

Gasoline stocks rose by 500,000 barrels and distillate stocks rose by 1 million barrels, compared with expectations for both declines.


Winter threatens shop owners and earners in Karbala.. Criticisms of the management of the Iraqi economy

link

Fear and apprehension among the earners about the winter, when there are fewer "employment" opportunities, as a result of the lack of construction and bad weather, at a time when many shop owners are concerned about the recession that hit their goods and led to the damage of some of them.

This situation applies to many cities of Iraq, including Karbala governorate, whose shop owner, Ali Karim, from Al-Hindiya district, told Shafaq News, "Today we find a clear loss of foodstuffs, as there is a depression at a high level in the market, which is causing Damage and expiration of these materials.

He added that "the accumulation of goods is a big problem facing shop owners, especially in the districts, sub-districts and rural areas whose citizens subsist on agriculture and various earning works."

For his part, citizen Karrar Nazim described the winter season as lean, as he told Shafaq News Agency, "Everyone knows that employment opportunities decrease in the winter, and his alternative was to work as a farmer in farms and orchards."

He added, "The social welfare salary has become one of my dreams to support my family and buy treatment for my young child who is suffering from the disease."

For her part, an expert in economic affairs, Salam Sumaisem, told Shafak News Agency, "The deteriorating economic situation indicates mismanagement."

And she continued, "There is no clear economic administration in Iraq," noting that "the white paper announced by the government worsened the situation."

She expected that, "we are witnessing a rise in oil prices, and the price of a barrel is expected to rise to $100," wondering, "why is the economic situation not improving?"

Simsim explained that "this is because of the economic management," indicating that "in Iraq we have money, but we suffer from mismanagement and corruption represented in the large salaries of some groups.

Economist: Revenue growth must be invested in infrastructure reconstruction

link

 An economic expert, Dhurgham Muhammad Ali, stressed the need to invest in the rise in oil prices in the best way for the reconstruction of infrastructure.

Ali said in a press statement, which was monitored by The Independent today, Wednesday, that "the revenue growth resulting from the increase in oil prices must be directed as an investment to rebuild the dilapidated infrastructure in the sectors of health, education, roads, bridges, electricity and water services."

He added, "The reconstruction of the infrastructure must be in a well-planned and well-prepared manner, and not only on gifts, panic and campaigns."

He pointed out that “the failure of the state in the reconstruction of the infrastructure resulted from severe corruption that society can no longer bear with the end of the life span of most public service facilities, stressing the need to establish an operations room for reconstruction supported by the highest levels of government with wide powers and tightly monitored to start real reconstruction of the country.


CBI Update:  Just  a note:

They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is 
here.   

Click on the link above for the latest update.

The CBI for rate is 1460

The currency auction For October  27th, 2021 total sales amount $184,601,540. 

including   $50,170,000. CASH 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 

10-27-2021   Newshound/Intel Guru Petra   ...we are right in front watching it occur.  And now, we are at the stage where implementation has begun formally with the ATM’s redistributing the money supply…know that this one small move will ignite the WORLD!!! ...do you realize the HUGE progress that has been accomplished????  Absolutely astounding.  …Yes, one simple move….and the WORLD changes!!!! And I don’t think I even need to say IMO because it’s history we are watching!! ...How long ago have we said...this is not just about Iraq?
10-26-2021   Newshound Guru Militiaman  Article:  "Al-Kazemi's advisor comments on a report on 'digital currencies' and warns against one of them"  Article:  "The 5 and 10 thousand dinars denominations disappeared from the ATMs"  Now Iraq is clearly telling us above they have digital currency and it will be tracked to the penny. I find this article to be very timely and to be expected. They took out the 1,000 - 10,000 notes and in the past we witnessed them destroying 25k notes in a filmed interview on the matter, thus, by them taking out the notes, they'll need to have replacements, hence, the need for an adjustment...In my view they must be in a hurry now...I suspect that with them having experience in digital currency...a flip of the switch may all that be needed .. lol


10-26-2021   Newshound Guru Breitling  Question:  "Doesn't it seem we get so close to a viable window for the change in the dinar then something happens?"  No that isn't true...Don't get emotional like that.  Don't think like that.  It's not a hot or cold situation.  That's why I use the term 'windows'.  There's an opportunity coming up at the end of October/November that hasn't changed. That window is here.  We'll see what they do.  Their decision is going to be based on the markets.  It's not an emotional thing...There is no 'getting close' or 'almost' or 'should have.'  You are thinking incorrectly.  And if you do think like that this is not the investment for you.  It is not the opportunity for you because it will just drive you nuts.

10-26-2021   Newshound/Intel Guru Mnt Goat  ...There is nothing but good news today to share as far as the RV goes...We see in the news today that the Central Bank of Iraq announced, on Wednesday, that Iraqi banks have obtained an international classification from international agencies. Why would they even bother with this if they did intend to trade their currency and use it to pay their bills and pay for imports? So this is all telling of what is about to come. Everyone just needs to hang in and stay with the investment...We are in a very good path to look forward to a possible January 2022 reinstatement. We will need to see the “Project to delete the Zeros” begin sometime in December 2021, if they still plan for the reinstatement in early 2022. This is something we need to watch for.

10-26-2021   Newshound Guru Sandy Ingram  Article: "Iraq oil minister sees oil prices at $100 in early 2022"  That's $100 per barrel...Iraq's minister of oil [had] said $100 a barrel for oil was unsustainable however now he reports that oil prices will be at $100 a barrel by early 2022.  What changed his mind?  Well thanks to the cartel, OPEC global inventories are at their lowest level.  People, this increase in oil prices means prices will be increasing around the world...oil exports to America rise significantly.  This is certainly good news for Iraq.

10-26-2021   Intel Guru MarkZ   [via PDK]   ...the RV front or currency front…or tier 4b…I think we are next to the end…we should be about 10 days in...I hope its sooner…nobody knows the timing. But I hope we are anytime from today to 8 days out…. I think we are in check…I think we are working towards the checkmate right now…playing the final parts of the game. It’s almost over.

10-26-2021   Intel Guru Frank26  Article:  "The 5 and 10 thousand dinars denominations disappeared from the ATMs"   WHY DIDN'T THE CBI ALSO REMOVE THE 1, THE 10, THE 20, AND THE 100, 250 AND 500... BECAUSE THEY WILL COEXIST WITH THE NSCN's (new small currency notes)...
10-26-2021   Newshound Guru Pimpy  I tell you right now there's a royal rumble happening right now and I mean a royal rumble.  The elections happened on the 10th of October and already we're seeing some bad actors step forward that you do not want to be involved with what's going on.  As a matter of fact they're already acting like they're going to form the next government.  These people are supported by Iran.  I'm talking about Maliki trying to move into the territory of Sadr and demand that Maliki become the next prime minister.  No!  This guy is the one who stole a lot of money from Iraq.  He's corrupt as hell and now they're trying to force their way forward claiming that they have the biggest supported block and they are backed by Iran? You don't want them in there...let's hope for the best...

10-26-2021   Newshound/Intel Guru Mnt Goat   Article:  "AL-MALIKI IS TAKING A “SURPRISING” PATH WITH THE AIM OF ACHIEVING A “THIRD TERM"  Quote:  "Many blame al-Maliki for the emergence of ISIS and its occupation of a third of Iraq’s area between 2014 and 2017...which makes his chances of returning to the position slim."  I totally agree...There is not much more to say other than do  not worry. Nori al-Maliki will NOT serve a third term, EVER!


Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's  website; posted only on Arabic side, not on English side)

The Council of Ministers holds its forty-first regular session headed by Prime Minister Mustafa Al-Kazemi

Today, Tuesday, Prime Minister Mustafa Al-Kazemi chaired the forty-first regular session of the Council of Ministers, during which the latest developments in the general situation of the country in various fields were discussed, and the Council discussed the topics on its agenda, and issued the necessary decisions and recommendations regarding them.

At the beginning of the session, Prime Minister Mustafa Al-Kazemi reviewed the general situation in the country, the latest political and security developments, and the operations of our armed forces in pursuing the remnants of defeated terrorism, and eliminating its hideouts and hideouts.

The session witnessed a review of the epidemiological report, the overall recent measures to confront the Corona pandemic, and the developments of the work of the Committee to Strengthen Government Actions in the areas of prevention and health awareness control; To limit the spread of the virus, and the most important steps taken by the Ministry of Health to confront the pandemic.

After discussing the topics on the agenda, the Council of Ministers issued the following decisions:
First: After discussing paragraph (1) of Cabinet Resolution (187) for the year 2021, regarding the Basra Water Pipeline Project / Al-Bidaa Canal, it was decided to host the governor; For more clarification.

Second: Approval of the recommendation of the Diwaniyah Order Committee (57) for the year 2021, regarding the approval of the agricultural plan for the whole country, including the Kurdistan region.

Third: To authorize the Tourism Authority to send a direct invitation to at least three solid and specialized companies for the purpose of investing in the following real estate:
1- The land of Al-Najaf Hotel / Al-Ghadeer District 2/395.
2- Babylon Tourist Hotel / Hilla, as an exception to Cabinet Resolution (245) for the year 2019, second / third axis.

Fourthly:
1- The Ministry of Finance allocated an amount of (3,000,000) dinars, only three billion dinars, to the Baghdad Water Department, which belongs to the Baghdad Municipality, from the emergency reserve for the fiscal year / 2021, for the necessary maintenance and maintenance work, as required in the Baghdad Municipality letter numbered M/1/ 1279 of June 30, 2021; In order to secure the delivery of pure water to the Karkh side, and part of the Rusafa side in the capital, Baghdad, according to the provisions of Article (5) of the Federal General Budget Law for the year 2021.
2- The Ministry of Planning included the project to rehabilitate the generators of the Karkh water project within the draft budget law for the year 2022.
3- The Baghdad Municipality contracted with the concerned company in a single bid method (single bid).

Fifth: Assigning the legal department in the General Secretariat of the Council of Ministers to prepare a draft law; To amend the law of the Iraqi Media Network in force, including the abolition of the Board of Trustees of the network, and the reorganization of its administrative structure.

Media Office of the Prime Minister
26 - October - 2021 

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ARTICLE 2

Cabinet Spokesperson: There is a strong effort done to rehabilitate the neglected hotels in the provinces of Najaf and Babylon.

Cabinet spokesman: The Cabinet voted to allocate 3 billion dinars to rehabilitate and maintain equipment that ensures water delivery in Al-Karkh and Al-Rusafa.

Cabinet Spokesperson: The Ministry of Culture will hold a ceremony worths the 100th anniversary of founding the Iraqi State
Cabinet spokesman: Work is progress on the Dari residential project, which has reached the final stages

Cabinet Spokesperson, the Minister of Culture @HassanNadhem, holds a press conference in Baghdad
to brief the media on today’s Cabinet meeting and developments in Iraq.
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ARTICLE 3

The Iraqi Electoral Commission decides to reopen more than two thousand polling stations to be sorted and counted manually
26.10.2021 | 18:14 

The Independent High Electoral Commission in Iraq announced today, Tuesday, that it will reopen more than 2,000 polling stations for manual counting and counting, after a wave of protests it faced during the past days.

And she stated in a press statement, that she "has started looking into all the appeals since yesterday, Monday, and all aspects related to studying these appeals and dealing with them in accordance with the legal contexts, and it has also taken the necessary measures regarding them through the statements it issued on a daily basis since it began receiving appeals submitted by candidates, parties and alliances." ".

She added, "The Board of Commissioners took a decision to open a number of stations, according to the appeals that were submitted, amounting to more than 2,000 stations distributed over various governorates, based on legal procedures published through the official website of the Commission."

The commission indicated that "the counting and sorting process will start from Nineveh Governorate tomorrow, Wednesday, from eight in the morning until five in the evening, followed by Babil Governorate on Thursday, while Friday will witness the start of the process of counting and sorting the contested stations on the Rusafa side in Baghdad."

And she continued, "We will send recommendations to the electoral judiciary regarding these appeals in light of the result of the counting and hand sorting, and we invite the agents of the candidates who challenged the results and the monitoring teams to attend to monitor the counting and sorting process in Baghdad in the honor hall in the celebrations square."

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ARTICLE 4

The Presidency of the Republic: Expressing objections to the election results through legal and peaceful means
10/26/2021 20:43

Baghdad / Obelisk: The Presidency of the Republic revealed, on Tuesday, October 26, 2021, the details of a meeting hosted by President Barham Salih for leaders of political forces.

The Presidency of the Republic said in a statement received by Al-Masala that the President of the Republic, Barham Salih, hosted today, at Baghdad Palace, a meeting that included the President of the Supreme Judicial Council, Judge Faiq Zaidan, and a number of leaders and representatives of political forces, where they discussed the general situation in the country and the legislative elections that took place on October 10. current first.

The meeting stressed the need to unite ranks and spread the spirit of national understanding to ensure security and stability in the country, enhance national unity, preserve the democratic path, give priority to the country’s higher interests, adopt democratic frameworks and practices to protect and promote civil and societal peace, and rely on dialogue in solving problems and differences in viewpoints.

The meeting indicated, according to the statement, that objections to the electoral process are acceptable and guaranteed in electoral laws and regulations, and must be followed up, and that their expression and dealing with them is in accordance with legal and peaceful methods, with an emphasis on the role of the Electoral Commission and the competent judicial body to follow up the file and take care and complete seriousness in considering all complaints and appeals The electoral process is presented professionally, impartially and with high transparency, as a necessity in order to enhance confidence in the electoral process.

The meeting stressed the importance of concerted efforts and joint action in order to move towards the national benefits that await the country, and the formation of a parliament that expresses the people’s will and aspirations for reform and development, improving living and service conditions, and forming an effective government that protects the higher interests of the country, responds to challenges and entitlements, and ensures equal opportunities for citizens and advancement. economy, trade, development and infrastructure.

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ARTICLE 5

A government advisor heralds economic stability in the 2022 budget
06:44 - 10/26/2021
Special - Mawazine News

Adviser to the Prime Minister for Financial and Economic Affairs Mazhar Muhammad Salih revealed, on Tuesday, "his expectations of the stability of the Iraqi economy during the 2022 budget, attributing the reason to the high oil revenues.

And Saleh told / Mawazine News / that "if the expenditures are directed correctly towards investment aspects and the creation and development of industry by putting the surplus funds from oil in investment projects to employ manpower and mobilize economic resources.

He added that "increasing domestic investment results will lead to an increase in income, and any surpluses that are transferred to investment funds or accounts will bring benefits."

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