News — Dinar Recaps Blog Page — Dinar Recaps (2024)

U.S. Dollar Will Lose its Reserve Status, “We Fumbled this Big Time”: Charles Payne

Daniela Cambone: 6-24-2024

The Fed is on the verge of making a monumental mistake,” warns Charles Payne, host of Fox's "Making Money with Charles Payne.” Speaking with Daniela Cambone, Payne criticizes the Federal Reserve's decision to hold interest rates steady at a 23-year high, arguing it will not benefit the economy.

He also lashes out against the Fed's “data-dependency” approach, questioning, “What data exactly are you looking at? Are you looking at late payments? Are you looking at bankruptcies?”

On recent reports of Saudi Arabia breaking away from the petrodollar system, Payne acknowledges that de-dollarization is happening.

"We're not doing the things that come with the sort of fiduciary responsibility of having the world's premier currency," he says.

He also advises people to stay flexible about the city where they buy their first home and to start saving. Watch the insightful interview now to learn more about Payne's views.

CHAPTERS:

00:00 De-dollarization

5:48 HSBC statement about the US dollar

7:21 Fed rate cuts

10:58 Job market

13:50 People can’t retire

16:52 Housing purchasing

20:44 Stock market

23:39 Investing in precious metals

24:58 Future of America

https://www.youtube.com/watch?v=DQclKKeXxnQ

BRICS' WIN IN ASIA: Malaysia & Thailand Apply to Join, While Japan Is Ditching US Treasuries

Lena Petrova: 6-24-2024

https://www.youtube.com/watch?v=oI4qrr87zN4

US Dollar to Get Re-Priced from ‘Widely Overvalued’ Levels, Massive Impact on Gold, Bitcoin Targets

Kitco News: 6-24-2024

U.S. Treasuries will be dumped as global reserves by 2030 as the U.S. dollar will get re-priced from "widely overvalued" levels, Luke Gromen, founder and president of Forest for the Trees (FFTT), tells Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News.

Gromen weighs in on what he sees as the new global reserve asset and what it means for gold and Bitcoin prices.

https://www.youtube.com/watch?v=Vv9DVOhyNhE

Goldilocks' Comments and Global Economic News Monday 6-24-24

Good Evening Dinar Recaps,

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Options Clearing Corporation: Risk Management Transformation |Youtube

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Understanding Treasury Contract Specifications |Youtube

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Central Bank Swap Arrangements, Explained |Youtube

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Hong Kong invites global opinions on web3 and virtual assets future -StartupNews fyi

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Asset managers update proposals for Ether ETFs, eyeing July launch —Blockchair News

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Commission seeks input from industry on the use of artificial intelligence in finance -European Commission

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The podcast 6/22/24 on Vietnam should get everyone excited about where we are with FACTS. Podcast Youtube

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Iraq News Highlights and Points To Ponder Monday AM 6-24-24

Oil Continues Its Losses As Commodity Markets Are Affected By The Rise Of The Dollar

Monday 24, June 2024 08:38 | Economical Number of readings: 148

Baghdad / NINA / Oil prices fell in early Asian transactions today, Monday, for the second session in a row, affected by the rise of the dollar after renewed fears of the continuation of high interest rates for a longer period and the lack of risk appetite among investors.

By dawn today, Brent crude futures fell 40 cents, or 0.5%, to $84.84 per barrel, after falling 0.6% upon settlement on Friday. West Texas Intermediate crude futures also fell 39 cents, or 0.5%, to $80.34 per barrel. The rise of the dollar raises the cost of purchasing oil denominated in the US currency for holders of other currencies.

But crude contracts rose by about 3% last week due to indications of increased demand for oil products in the United States, the world's largest consumer, as well as the continued implementation of production cuts in the OPEC+ group.

Oil prices received support from geopolitical risks in the Middle East due to the war in the Gaza Strip, as well as the intensification of Ukrainian drone attacks on Russian oil refineries.

]https://ninanews.com/Website/News/Details?key=1133787

The Dollar Rises Again Against The Iraqi Dinar After Declining For Two Consecutive Days

Economy |Today Baghdad today – Baghdad Today, Monday (June 24, 2024), the dollar exchange rates recorded a slight increase against the Iraqi dinar on the main stock exchange in the capital, Baghdad .

The "Baghdad Today" correspondent said, "The dollar prices on the Al-Kifah and Al-Harithiya stock exchanges recorded 147,100 dinars for every 100 dollars."

He added, "Prices in banking shops in local markets in Baghdad also recorded an increase, as the selling price reached 148,000 dinars, while the purchase price reached 146,750 dinars for every 100 dollars." LINK

The 2024 Budget Is Safe With Government Controls

Iraq 06/24/2024 The Budget Department of the Ministry of Finance called on all ministries, governorates, and entities not affiliated with a ministry, to send their authorized representatives for the purpose of receiving estimates of current expenditures, revenues, and investment projects for the current year, approved by the House of Representatives, and this is the first time that general budget tables have been approved and not a law.

Budget, where the government set a general budget for three years (2023, 2024, 2025).

There has been much talk among specialists about the budget deficit, which some have estimated at 25 percent, while the government seems confident in its calculations and is constantly calling for reassurance.

The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Saleh, on specific mechanisms to fill the supposed deficit.

Saleh told Al-Sabah: “There are various objective factors that public finances depend on in the event of a real emergency deficit during the remaining six months of spending of the current fiscal year, which is known as limited resort to short-term loans or bridge loans in the terminology.”

He explained, “The general budget law in force allows borrowing with treasury bonds or transfers from the internal banking market, in addition to controlling operational spending priorities, which is what is called financial discipline, which tends towards preferring some necessary operational expenses over others according to priorities,” indicating that “this comes To provide sufficient financing for the committed urban projects without faltering or stopping.”

Saleh noted that “the policy of financial discipline adopted by the fiscal policy has become more restrictive in collecting government revenues and in accordance with strict oversight characterized by speed and precision,” and stated that “it is no secret that there are funds that were not spent from the previous fiscal year’s budget and were recycled, which provides a facilitating, compensatory climate.” In the flow of cash revenues, especially in meeting part of the basic and development spending needs in the current year’s budget.”

He pointed out, "Despite the above, oil markets are still in booming demand and their prices are higher at a rate of change of (positive 15 percent) than what is planned for the price of a barrel of crude oil in Federal Budget Law No. 13 of 2023 (the tripartite budget), which is $70 per barrel." “One,” he stressed, “this in itself is a positive element in covering necessary spending, and leads to a continuous reduction in the hypothetical or planned deficit gap.”

In this context, economic affairs researcher, Nabil Jabbar Al-Tamimi, stated that the ceiling on government spending and revenues is restricted, expecting that public spending will not exceed the available amounts.

Al-Tamimi told “Al-Sabah”: “The general budget is numbers, tables, and hypothetical estimates for revenues and spending, and in general, the government has set a high ceiling for revenues and spending, and indicated that a large deficit could occur in the issue of revenues to cover spending.” He added, “The government has put in place a set of plans.” To cover the budget deficit, including borrowing and selling bonds.

He continued, "The government will not spend more than the expected revenues and will not be able to implement the budget in full technically and financially, and spending at the end of the year will not exceed 150 trillion dinars." He stressed that "this number is the amount of revenue achieved with a small deficit," indicating that "the government will not You can implement the budget in full and will remain hostage to the funds collected, which will be spent according to the available ceiling.”

Edited by: Muhammad Al-Ansari https://alsabaah.iq/98452-.html

An Economist Expects The Dollar Exchange Rate To Approach The 140,000 Threshold

Economy Information / Baghdad..Today, Monday, the economic expert, Nabil Al-Ali, expected a decline in the exchange rates of the US dollar against the Iraqi dinar during the coming period.

Al-Ali told Al-Maaloma Agency, “There is a possibility that the exchange rate of the dollar against the dinar will reach 142 thousand in the coming days if the Central Bank of Iraq’s sales of foreign currency continue to increase.”

He added, "The increase in the Central Bank of Iraq's sales of dollars through the currency auction will contribute to reducing exchange rates, even if slightly, without returning to the threshold of 150,000 or more."

Al-Ali pointed out that "exchange rates recorded a relative decline at the beginning of this week."

America worked to destroy the Iraqi currency by imposing sanctions on private banks and banning the dollar under many pretexts, which led, in one way or another, to a severe financial crisis in the local markets. LINK;

Provoking Thoughts and Points To Ponder On Adversity

Trouble will rain on those who are already wet. -Anonymous

They say a reasonable amount o' fleas is good for a dog - it keeps him from broodin' over bein' a dog mebbe. -Edward Noyes Westcott

There is nothing the body suffers which the soul may not profit by. -George Meredith

The burden is equal to the horse's strength. -The Talmud

Nothing befalls a man except what is in his nature to endure. -Marcus Aurelius

I am escaped by the skin of my teeth. -Bible

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

TNT:

Tishwash: Al-Nujaba: There is no solution to the American presence in Iraq except through “military jihad”

Today, Sunday, Al-Nujaba Movement identified a single solution to end the American presence in Iraq.

The movement stated in a statement received by Al-Youm Al-Akhbariya: “We congratulate the brothers in the Sayyid al-Shuhada Brigades on the rise of the Mujahid Abdullah Razzaq Anoun al-Safi as a martyr following a brutal American attack.”

She continued, "This targeting and previous American terrorist operations confirm, beyond doubt, the validity of what the Al-Nujaba Movement has repeatedly declared, that the presence of these occupying forces is a hostile combat presence whose job is to protect the interests of the American and Zionist occupation."

Al-Nujaba continued her statement: "We affirm the continuation of our jihadist work." Military, which we consider to be the only solution that limits and ends the existence of the occupation.” link

Tishwash: The President of the Republic calls for amending laws related to investment

The President of the Republic, Abdul Latif Gamal Rashid, called today, Monday, for amending the laws related to investment, while praising the efforts of the Financial Supervision Bureau.

A statement from the Presidency of the Republic, received by Al-Iqtisad News, stated that “President of the Republic, Abdul Latif Jamal Rashid, received today at Al-Salam Palace in Baghdad, the Chairman of the National Investment Authority, Haider Muhammad Makiya,” noting that “during the meeting, the National Authority’s work plans and its investment policy were reviewed.”

The President of the Republic pointed out "the necessity of overcoming obstacles facing investors, as well as supporting Iraqi businessmen and involving them in the investment process."

He explained that "activating investment requires making amendments to some of the applicable laws," stressing his support for "everything that would facilitate and revitalize this vital sector in a way that strengthens the national economy and provides job opportunities."

He stressed "developing communication mechanisms, exchanging experiences and information, and enhancing the process of trade partnerships between Iraq and countries with expertise in this field."

For his part, Makiya stressed the Authority's "keenness to develop the work," reviewing "the investment plans and projects currently in the works, in addition to the future plans drawn up to develop all cities in Iraq and serve their residents."

The statement continued, "The President of the Republic, Abdul Latif Jamal Rashid, also received today at Al-Salam Palace in Baghdad, the head of the Financial Supervision Bureau, Ammar Subhi Khalaf, and during the meeting, the work of the Financial Supervision Bureau was discussed."

The President of the Republic stressed "the importance of the Bureau's work in establishing concepts of integrity and transparency for the work of state institutions," noting "the necessity of continuing efforts to preserve public money and combat administrative and financial corruption."

He pointed out that "promoting the concepts of integrity and anti-corruption helps support the country's development process, enhances investment and supports the private sector, and provides equal opportunities for all," indicating "the importance of strengthening coordination between all regulatory bodies to achieve these goals."

He referred to "the work of the Financial Supervision Bureau in monitoring the performance of state institutions," praising "the efforts made by it in taking care of public money, reducing waste of spending, and monitoring the implementation of development projects in the country."

For his part, Ammar Sobhi Khalaf appreciated the “directives of the President of the Republic,” reviewing the work progress of the Financial Supervision Bureau, the tasks assigned to it, and the plans drawn up to develop the work in the future to achieve the goals set for it.” link

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Tishwash: Warning against trading digital currencies in Iraq

He refused to let Iraq deal in these currencies because they lacked basis for evaluation except supply and demand. link

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CandyKisses: Disabling official working hours next Tuesday (Tomorrow) on the occasion of Eid Al-Ghadir

Baghdad - Mil

The State Media Cell announced, on Sunday, the disallation of official working hours next Tuesday on the occasion of Eid Al-Ghader Al-Aghar.

The official media quoted the spokesman for the team, Haider Al-Majeed, followed by "Mil", that "The Prime Minister, Mohammed Shia Al-Sudani, directed during the meeting of the Council of Ministers, in its twenty-fourth regular session, held on 2024/6/10, to disrupt official working hours on Tuesday, corresponding to June 25, 2024, in all ministries and government institutions, coinciding with the day of Ghadeer, based on the provisions of Article (1/I/G) of the Law on Public Holidays (12 of 2024)."

With the launch of the activities of "Al-Ghadeer Week" with the participation of 12 countries, the Iraqi Ministry of Interior confirmed, on Friday, the preparation of a plan to secure the atmosphere of Eid Al-Ghadeer Al-Agar and facilitate the entry and movement of visitors in Najaf and the rest of the governorates.

Last Thursday, the Supreme Committee for the activities of "Ghadeer Week" in Iraq announced the completion of the preparations and preparations for that religious occasion, which was approved on a recent official holiday.

On the 18th day of Dhul-Hijjah according to the Hijri calendar, Shiites celebrate "Eid Al-Ghadir," which is the date on which the Prophet Muhammad delivered the sermon of Ghadeer in the area of "Ghadeer Kham", while returning from his last argument (the farewell pilgrimage), in the tenth year of Hijra, in which his cousin, Imam Ali, was given an imam to Muslims after him.

On May 22, the Iraqi parliament voted on the bill for public holidays, which included the Eid al-Ghadeer holiday.

Iraq Economic News and Points To Ponder Sunday Afternoon 6-23-24

Advisor To The Association Of Banks: The Central Bank's Third Strategy Is A New Methodology For Financial And Banking Reform

Economy News – Baghdad Mecca – Exclusive Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed that the Central Bank's third strategy has drawn up a road map and programs with clear goals and initiatives for a period of three years in a special, complex, and risk-filled economic and financial situation.

Al-Nusairi said, in an interview from Makkah Al-Mukarramah, exclusively for “Al-Iqtisad News,” that “the Central Bank’s third strategy for the years (2024-2026), which derived its main and subsidiary objectives from the general economic policies of the state and its strategy for financial and banking reform that the government adopted in the government curriculum and from Central Bank Law No. 56 of 2004, and the new strategy has drawn up a road map and programs with clear objectives and initiatives for a period of three years in a special and complex economic and financial circ*mstance full of risks and challenges at the level of internal and external economic and financial relations.”

He pointed out, “What concerns us as specialists in economic, financial, and banking affairs is what are the new mechanisms and policies that the Central Bank has adopted in its monetary policy and banking reform? According to the approach of the fundamental change desired for the national economy, in which the banking sector constitutes the first and basic link and the implementer of monetary policy applications.”

Al-Nusairi explained that “the Central Bank’s third strategy set the basic goals at 7 goals, the sub-goals at 80 goals, and 75 initiatives to achieve the basic and subsidiary goals and charted the way for banking and financial reform in accordance with the following strategic goals: -

1- Supporting and enhancing monetary stability.

2- Promoting digital transformation and activating electronic payment.” Strengthening cybersecurity in the Central Bank and the banking sector.

3- Promoting financial inclusion.

4- Maintaining a sound financial system that guarantees the rights of its customers.

5- Developing the organizational structure and developing human resources capabilities in the central bank.

6- Strengthening the position of the central bank locally and internationally.

7- Strengthening the compliance of the banking sector Non-banking institutions in line with international standards.

He added, “These strategic objectives have been defined as programs and policies to achieve the primary and subsidiary objectives and their most prominent initiatives in achieving the first strategic objective, which is the national lending strategy, which will restructure banking financing in Iraq and the initiative to leave the electronic platform and adopt correspondent banks in Iraq.”

External transfers and the goals emphasize protecting the financial system, enhancing financial inclusion, managing monetary and financial stability, developing control and supervision, developing regulation in the banking sector, completing the development of the organizational structure in the central bank in accordance with the frameworks and techniques adopted in international central banks, raising the capabilities of human resources, developing banking operations, and enhancing bank relations. internal and external, and to represent him locally and internationally.”

Al-Nusairi concluded, “By analyzing the mechanisms and action points to achieve the above goals, we note that the strategy identified the planning team, the implementation team, the implementation mechanisms, and responsibility. It also identified clear priorities for achieving reform. Certainly, these priorities were diagnosed in light of the challenges facing the monetary policy and the banking sector, the implementation steps, and the results achieved by the strategy.”

The first is for the years 2016-2020 and the second strategy is for the years 2021-2023 and the stifling economic and financial challenges that Iraq has suffered over the past years.

Work through this strategy is to clearly identify opportunities to overcome the challenges for this and for the purpose of implementing the banking reform methodology according to what was stated in the strategy and according to an insight into the priorities and challenges that The Iraqi banking sector is suffering from it.

The Central Bank made exceptional efforts during this year and last year, completing the first phase of it and began implementing the second phase.

Many of the primary and secondary objectives were achieved, and it is trying to complete the achievement of all the objectives in the second half of 2024 and the years 2025 and 2026 of the plan that has been proven to have been prepared and planned. It has identified advanced steps on the path to systematic implementation of the desired financial and banking reform in Iraq.

283 views 06/23/2024 - https://economy-news.net/content.php?id=44513

The World Bank Predicts Iraq's Economic Future In 2026

Economy | 12:19 - 06/23/2024 Baghdad - Mawazine News The World Bank expected, today, Sunday, that Iraq will achieve economic growth of more than 5% in the year 2026.

The bank stated in a report followed by Mawazine News, that “Iraq’s economic growth for the year 2022 reached 7.6%, and in 2023 it decreased.” To reach - 2.9%.

He expected Iraq's economic growth to decline in 2024 to reach 0.3%, to achieve growth in 2025 of up to 3.8%, and to achieve growth in 2026 of up to 5.3%.

The bank's report indicated that "oil exporting countries from outside the Gulf Cooperation Council will help the expected recovery in the oil sector in 2025 boost growth in Iraq and Algeria." https://www.mawazin.net/Details.aspx?jimare=250086

Iraq's Oil Exports To America Declined Last Week

Sunday 23, June 2024 10:44 | Economical Number of readings: 238 Baghdad / NINA / Iraq's oil exports to the United States recorded a decline during the past week.

The US Energy Information Administration stated in a report, “The average US imports of crude oil during the past week from 8 major countries amounted to 6,028 million barrels per day, down by 21 thousand barrels per day from the previous week, which amounted to 6,120 million barrels per day.”

She added, "Iraq's oil exports to America amounted to 164,000 barrels per day last week, down by 64,000 barrels per day from the previous week, which amounted to 228,000 barrels per day."

She continued, "Most of America's oil revenues during the past week came from Canada, followed by Mexico, then Saudi Arabia and Colombia, while American imports of crude oil continued, from Brazil, Ecuador and Nigeria, and it did not import any quantity from Libya."/End 11 https://ninanews.com/Website/News/Details?key=1133630

Find Out The Exchange Rate Of The Dollar In Local Markets

Economy | 10:59 - 06/23/2024 Baghdad - Mawazine News The exchange rates of the dollar against the dinar recorded a slight increase today, Sunday, on the main stock exchange in the capital, Baghdad.

The price of the dollar in the Kifah and Al-Harithiya stock exchanges recorded 146,850 dinars for every 100 dollars.

Prices in the exchange shops in the local markets in Baghdad also recorded an increase, as the selling price reached 147,750 dinars, while the purchase price reached 145,750 dinars for every 100 dollars.https://www.mawazin.net/Details.aspx?jimare=250079

Currency Auction: Central Bank Sells $273 Million

Economy | 06/23/2024 Baghdad - Mawazine News The Central Bank revealed, on Sunday, its hard currency sales for today, confirming that they amounted to more than 273 million dollars in the currency auction.

In its auction today, the bank sold 273 million, 244 thousand and 330 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers.

According to the bank’s data, the total internal cash withdrawals amounted to $22,970,000, while the total amounts of transfers abroad, which include transfers and credits, amounted to $250,274,330. https://www.mawazin.net/Details.aspx?jimare=250106

To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

The virtue of prosperity is temperance; the virtue of adversity is fortitude, which in morals is the heroical virtue. -Francis Bacon

The keenest sorrow is to recognize ourselves as the sole cause of all our adversities. -Sophocles

No untroubled day has ever dawned for me. -Seneca

You can't have more bugs than a blanketful. -Spanish proverb

Even in the deepest sinking there is the hidden purpose of an ultimate rising. Thus it is for all men, from none is the source of light withheld unless he himself withdraws from it. Therefore the most important thing is not to despair. -Hasidic saying

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Sunday Afternoon 6-23-24

Good Evening Dinar Recaps,

From Last Night:

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Demand for Tokenized Treasury Bonds Soars as Crypto Investors Chase TradFi Yield|Youtube

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Tokenized Municipal Bonds | Andrew Samu |Youtube

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CBI Begins Second Phase of Reform RE Boom 120 °F and Rate Expectations |Youtube

👆 Goldilocks pointed to this article

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Goldilocks Daily Podcast -- Vietnam Hot Topic 06.22.2024

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BRICS Currency Unveil in 2024: What Next?

Fastepo: 6-22-2024

The BRICS nations are developing a new currency to reduce global reliance on the US dollar. This effort aims to enhance economic integration, diminish US influence, and offer an alternative for international trade and finance.

In the first week of June, Russian President Vladimir Putin announced this initiative during the St. Petersburg International Economic Forum.

The concept of a BRICS currency gained more attention following the 2008 global financial crisis, which exposed vulnerabilities in the global financial system dominated by the US dollar.

In 2022, during the 14th BRICS Summit, Russian President Vladimir Putin highlighted the need for a new global reserve currency to reduce reliance on the dollar and euro.

To facilitate cross-border transactions among member states, the BRICS Pay system was introduced.

It leverages digital technologies and blockchain to provide a secure, transparent, and efficient payment platform.

This system is seen as a precursor to a more unified BRICS currency.

In 2024, BRICS nations announced plans to create a digital currency payment system, leveraging blockchain technology to enhance financial integration and reduce reliance on Western financial systems like SWIFT.

https://www.youtube.com/watch?v=0XI0xyQVcRk

Malaysia Just Changed the Future of Asia with THIS One Move!

Cyrus Jenssen: 6-23-2024

Malaysia is moving forward and will be joining BRICS later this year! This is massive news for the BRICS alliance as Thailand has also announced similar intentions. Malaysia and Thailand joining BRICS is huge news and no one is more excited about this than China who depends on the Strait of Malacca for its oil imports.

Malaysia is joining BRICS to help boost it's local currency as the BRICS organization will be launching a new currency trading platform later this year! Let's break it down in today's video

0:00 - Intro to Malaysia Joining BRICS

1:16 - Why the Strait of Malacca is so Important

3:25 - China's Backup Plan

4:20 - How China Built It's Reputation in Asia

5:55 - Why Malaysia is China's Best Friend in Asia

6:55 - Why the World Wants to Move Away from US Dollar

8:30 - Why Turkey Will Join BRICS

9:05 - How Joining BRICS Will Help Malaysia

https://www.youtube.com/watch?v=WJ8WgPoMYDw

How BRICS Nations Are Overcoming Western Bias in University Rankings

Think BRICS: 6-22-2024

Discover how BRICS nations are overcoming Western bias in university rankings through innovative strategies and cooperation. Education, economic growth, and global competitiveness are at the forefront of this transformation.

This video explores how BRICS countries, under Russia's presidency, are enhancing education standards, establishing the BRICS Network University, and promoting eco-climatic literacy.

Learn about the significant efforts in higher education, such as the BRICS International Olympiad and the development of an alternative university ranking system. Key figures like Viktor Sadovnichy and institutions like Moscow State University are leading the charge for a fairer, more comprehensive evaluation of global education standards.

The video delves into the impact of Xi Jinping's policies on Chinese universities and the ongoing efforts to strengthen academic cooperation among BRICS countries.

Highlighting major events such as the BRICS Summit and the BRICS Rectors' Forum, it underscores the importance of policy change, mutual recognition of qualifications, and collaborative research.

This holistic approach aims to create a skilled human capital base crucial for economic growth and social equity. With a focus on shared prosperity, the video illustrates how BRICS nations are setting new benchmarks in global education.

00:00 Introduction to Education's Economic Impact

00:33 The Importance of Education in BRICS Countries

00:44 BRICS Education Initiatives Under Russia's Presidency

01:52 BRICS Network University Project

02:09 Mutual Recognition of Qualifications

02:15 Environmental and Cultural Initiatives

02:38 BRICS International Olympiad and University Rankings

03:19 Challenges in Global University Rankings

04:50 Alternative University Ranking Systems

05:47 Impact of Geopolitics on Education

07:20 China's Shift in University Rankings

09:01 BRICS Unified Regulatory Framework

09:45 BRICS Science Academies Meeting

10:39 International Scientific Collaboration

11:34 Successful Educational Cooperation

12:42 The Role of Education in Economic Growth

13:14 Conclusion and Final Thoughts

https://www.youtube.com/watch?v=wyIcw1RGoSw

TNT:

Tishwash: Dozens of Iraqi companies participate in an investment summit in America

The US Ambassador to Baghdad, Alina Romanowski, announced on Sunday that more than 30 Iraqi companies will participate in a summit related to investment projects in the United States available to foreign companies.

Today, Romanowski wrote in a blog on the “X-Twitter” platform, “Best wishes to the 33 Iraqi companies heading to the SelectUSA Investment Summit in Washington, D.C., next week.”

She added, "The investment process is through linking Iraqi companies with American companies and resources to help them develop their businesses."

Tishwash: The World Bank predicts Iraq's economic future in 2026

The World Bank expected, today, Sunday, that Iraq will achieve economic growth of more than 5% in the year 2026.

The bank stated in a report followed by Mawazine News, that “Iraq’s economic growth for the year 2022 reached 7.6%, and in 2023 it decreased.” To reach - 2.9%.

He expected Iraq's economic growth to decline in 2024 to reach 0.3%, to achieve growth in 2025 of up to 3.8%, and to achieve growth in 2026 of up to 5.3%.

The bank's report indicated that "oil exporting countries from outside the Gulf Cooperation Council will help the expected recovery in the oil sector in 2025 boost growth in Iraq and Algeria." link

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Tishwash: Baghdad to Host Iraq’s Largest Tech Event

Baghdad will host the Digital Transformation Initiative (DTI) Youth Forum on July 22, Iraq's largest tech event, sponsored by the Iraqi Prime Minister’s Office.

This landmark two-day event will bring together over 8,000 attendees, including youth, entrepreneurs, and companies, to explore technological trends and digital solutions.

The forum aims to raise awareness about technology among Iraqi youth and will feature 20 local and international experts. Notable speakers include Safa Salwan, VP of Investments at JPMorgan; Mustafa Nooraldin, CEO of Acksession; and cybersecurity expert Saif Alshoker. Topics will cover the Internet of Things, start-ups, cybersecurity, digitalizing the government sector, the digital economy, renewable energy, and more.

In addition to the conference, the event will include a Youth Initiatives Exhibition showcasing local projects, a Companies Exhibition promoting IT services and products by young innovators, and the launch of reports and data on Iraq's technology sector.

The DTI Youth Forum seeks to unite the efforts of youth, the private sector, and digital companies to drive digital transformation in Iraq, connecting Iraqi youth with the latest advancements in technology and innovation. link

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Tishwash: Finance begins distributing estimates of current expenditures, revenues, and investment projects for 2024

Today, Saturday, the Ministry of Finance announced the start of distributing estimates of the state’s current expenditures, revenues, and investment projects for the year 2024.

A Finance statement received by Al-Rabaa stated, “The Budget Department calls on all ministries, governorates, and entities not affiliated with a ministry to send their authorized representatives tomorrow, Sunday, for the purpose of receiving estimates of current expenditures, revenues, and investment projects for the current year, approved by the House of Representatives, according to what was stated in Parliamentary Resolution No. (64). ) for the year 2024 and was held at its session numbered (27) on June 3 of the current year. link

a different version

The Ministry of Finance announced today, Saturday, the start of distributing estimates of current expenditures, revenues and investment projects for the year 2024.

The Ministry stated, in a statement, a copy of which was received by Al-Mustaqila, that “the state has begun distributing estimates of current expenditures, revenues, and investment projects for the year 2024 to the state.

She added, “The Budget Department ofthe Ministry of Financecalls on all ministries, governorates, and entities not affiliated with a ministry, to send their representatives tomorrow, Sunday, June 23, 2024, to receive estimates of current expenditures, revenues, and investment projects for the current year, which were approved by the House of Representatives in accordance with Parliamentary Resolution No. (64) of 2024, adopted at its session numbered (27) on June 3 of the current year.”

This step comes as part of the government's efforts to improve financial planning and ensure a fair distribution of resources in a way that enhances the quality of public services and contributes to achieving sustainable development inall regions of Iraq.

Iraq News Highlights and Points To Ponder Sunday AM 6-23-24

After The Decline In Inflation Rates... Economic Calls To Improve Financial Policy Management In Iraq

Money and business Economy News – Baghdad Today, Sunday, financial specialists called for the need to improve financial policy management in Iraq after it witnessed a decline in inflation.

Financial expert Abdullah Al-Bandar said, “The International Monetary Fund was optimistic about Iraq due to recording a clear decline in inflation during the first quarter of this year compared to the last quarter of 2023,” indicating that “economic policies in Iraq are going well and that the government is taking into account Fund directives regarding this.

He added, "The IMF's assistance to Iraq is usually conditional on the extent of Iraq's commitment to its directives and advice. Therefore, the government and relevant parties must move towards improving the management of financial policy in Iraq and making it consistent with monetary policy, since our monetary policy is dependent on oil revenues."

Al-Bandar called for "the need to focus on developing non-oil economic sectors because they are very few compared to oil revenues, such as developing border crossings and developing the customs law, as well as the private sector's contribution to the domestic product, and reconsidering the customs tariff because Iraq is an importing country."

For his part, financial expert Manar Al-Obaidi explained in a post on his Facebook account, “One of the most important economic standards that countries always take into account in determining their data, because of its important role in formulating the country’s economic policy, is the monthly and annual inflation rates, which plays a role.”

It is important in the overall daily life of the citizen and in the various economic sectors,” noting that “according to data from the Central Bureau of Statistics, the annual inflation rates in Iraq decreased from 4.5% at the end of 2023 to reach 1.6% in March 2024.”

Al-Obaidi added, “Countries seek to reduce inflation rates according to their economic policies, as some countries try to target fixed inflation rates that do not increase or decrease, while others are looking for high inflation rates, especially producing countries, and they differ according to the economic policy of each country,”

pointing out that In Iraq, “there is no clear target for inflation rates except for one phrase mentioned in the strategic development plan that talked about keeping the inflation level below the 10% level.”

Al-Obaidi explained that "the decline was not the result of a significant increase in prices, but rather is due to three basic factors that contributed to the inflation rates reaching these rates, which are considered among the lowest levels of inflation in the world and the Middle East."

He stated that "the first level is a change in the weights of goods, as the process of determining inflation depends on determining a weight that represents the relative importance of each commodity, meaning that the importance of bread to the citizen is not the same as the importance of clothing, for example. Therefore, the weights vary according to the importance of the commodity.

At the beginning of 2024, the Central Bureau of Statistics changed the weights." For each commodity, the relative weight of some commodities was increased, such as food, beverages, tobacco, education, and health, in exchange for reducing some of the relative weights of other goods and services, such as housing and transportation, which includes fuel, for which the price of improved fuel was raised in 2024, in addition to household equipment.

This change played an important role in Reducing the inflation rate because some of the goods whose weights were increased did not increase much compared to those whose weights were reduced.

He continued, "With regard to the second level, it is changing the year of measurement, as the year of measurement in which a standard price was set for each commodity or product was the year 2012. The year of measurement was changed to the year 2022, and the increase or decrease in the prices of goods and services became dependent on the standard prices in 2022, not 2012, and this is The change greatly affects inflation rates in a way that reduces inflation rates,”

pointing out that “the third level is represented by the decline in the prices of some foodstuffs, such as bread, dairy, fruits, and drinks, which now represent approximately 31% of the total inflation account, and thus their decline or rise plays a fundamental role in Determining inflation levels. Therefore, general inflation decreased to 1.6%, while core inflation reached 2.7%.

Al-Obaidi wondered, “Why specifically were major changes made, whether at the level of weights or at the level of the base year, in 2024, during a critical period when there are radical changes in monetary policy and financial policy?” And why was the year 2022 adopted as a measurement year?

Is it really suitable to be a measurement year, especially since it is A year that comes after the Corona crisis, in which the world witnessed global inflation of various commodities, and it was not a year of global stability?

He concluded his speech by saying, “What we aspire to is for the data issued by various official bodies to be highly reliable and in line with the reality of the situation in order to formulate economic policies based on analyzing the gap between what is currently on the ground and the target value. No one can imagine.” The reaction of any citizen when you inform him that prices rose only 1% compared to the previous year.” Views 68 Added 06/23/2024 - https://economy-news.net/content.php?id=44523

The World Bank expects economic growth in Iraq to reach more than 5% in 2026

Money and business Economy News _ Baghdad The World Bank expects that Iraq will achieve economic growth of more than 5% in the year 2026, indicating that the recovery in the oil sector in 2025 will work to enhance growth in Iraq.

The bank said in a report seen by Al-Iqtisad News, “Iraq’s economic growth for the year 2022 reached 7.6%, and in 2023 it decreased to - 2.9%.”

He expected Iraq's economic growth to decline in 2024 to reach 0.3%, to achieve growth in 2025 of up to 3.8%, and to achieve growth in 2026 of up to 5.3%.

The bank's report indicated that oil-exporting countries outside the Gulf Cooperation Council will help the expected recovery in the oil sector in 2025 boost growth in Iraq and Algeria.Views 62 06/23/2024 - https://economy-news.net/content.php?id=44528

Government Advisor: The Budget Imposed Discipline In Expenditures And Diversification Of Revenues

Economical 06/23/2024 The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Saleh, said that the budget for the current year 2024 has a number of advantages that will increase rates of sustainable development, raise the pace of projects, and diversify sources of funding, indicating that oil price estimates in the budget are still higher than the specified price of $70 per barrel, by A change of more than 16 percent, while he indicated that the budget has high discipline in maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods, and information technology in estimation, estimation, and collection.

Earlier, Chancellor Saleh played down the risks of an increase in the budget deficit, stressing that the increase in oil prices above the number specified in the “tripartite” budget means that “automatic financing of the deficit has become a reality.” Last month, the Ministry of Oil announced that the Basra Gas Company had exported its first A shipment of “semi-refrigerated” propane gas, amounting to more than 10,700 tons, indicating that it is “one of the large shipments that are marketed and loaded on the back of specialized tankers.”

While specialists believe that this step is very important and would maximize the country’s financial revenues, in addition to its necessity in meeting internal needs. Saleh confirmed during his speech to “Al-Sabah” that the budget enjoys high discipline in maximizing non-oil revenues, especially tax and customs revenues, specifically after adopting automation, modern methods and information technology in estimation, estimation and collection, in addition to its orientation towards imposing discipline on operational expenditures and keeping spending on them at minimum levels. Accepted.

Saleh also explained that “the tripartite budget was truly keen to raise the efficiency of investment spending and the operation of all approved projects, in order to ensure a high growth rate in the domestic product at a rate exceeding twice the population growth rate through the movement of new projects without delay or stop,” noting that “according to Given these data, we notice that the pattern of public spending, according to the schedules announced, is characterized by accuracy, objectivity, and self-savings, which contributes to reducing the resort to financing the actual deficit, even when there is a need for internal borrowing, and within limits that ultimately do not exceed the accepted international standard percentage for financing the deficit, which amounts to 3 percent of the total. The country's gross domestic product or slightly exceed it.

The financial advisor also explained that “the efficiency of annual spending in the operational and investment aspects is an important issue in determining the total annual public spending according to what is planned,” pointing out that the operating budget constitutes the greatest challenge in the financial policy lifestyle because it constitutes more than 70 percent of the total spending and is spent 75 percent of it is for salaries, wages, pensions, and social care.

Therefore, the transfer space in it is very limited, in our belief, or remains in a very narrow range. Developments in this aspect require that they be matched by high growth in non-oil revenues to confront the constraint on operating spending, and this is what it seeks.

The federal general budget is one of the measures to introduce digital technology and electronic collection within the governance principles stated in the government program, explaining at the same time that the distribution of investment allocations in the tripartite general budget is undoubtedly subject to the standards and indicators of national economic development plans and in accordance with a harmonious vision of investment spending priorities in the country.

Determining governorate projects, which are precise allocations that have the approval of both the Council of Ministers and the legislative authority, as the financial schedules for the year 2024 were recently approved, especially on the side of public expenditures and their operational and investment parts, whose development impacts have expanded in a hom*ogeneous manner throughout the political geography of Iraq.

Saleh believes that if the annual investment allocations for the year 2024 are proportional to the extent of the ability to implement, in light of the indicator of the disruption of the percentage of financial resources previously allocated to projects that were not implemented according to the time course specified for them, then financing governorate projects has become a matter that is consistent with the ability to implement, which is represented in... Time itself is an indicator of investment in the time dimension, which means that financing development projects must, in all circ*mstances, be proportional to the ability to implement on the ground and in practice.

Here lies the spirit of competition in the priority of one governorate in optimal investment and on time without delay, that is, proceeding with the completed work in an optimal manner. It is necessary to complete the allocations and provide them according to the real investment rule within the specified time. https://alsabaah.iq/98384-.html

Provoking Thoughts and Points To Ponder On Adversity:

[A difficult childhood gave me] a kind of co*cky confidence. ... I could never have so little that I hadn't had less. It took away my fear.-Jacqueline Cochran

If you have been sunned through and through like an apricot on a wall from your earliest days, you are oversensitive to any withdrawal of heat.-Margot Asquith

I was lucky I wasn't a better boxer, or that's what I'd be now - a punchy ex-pug.-Bob Hope

At every step the child should be allowed to meet the real experience of life; the thorns should never be plucked from his roses.-Ellen Key

Hot water is my native element. I was in it as a baby, and I have never seemed to get out of it ever since. -Edith Sitwell

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Iraq Dinar- IQD Update -Iraq Reap Beneifits Artificial Inteligence-Global Economy- Renaissance

MilitiaMan and Crew: 6-22-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=B9b1P-gbWig

BRICS: Feds Acknowledge Sanctions Led To De-Dollarization

Geopolitical Analyst: 6-21-2024

BRICS kick-started the global de-dollarization program after the U.S. pressed sanctions on Russia in February 2022 for invading Ukraine.

The alliance members Russia and China went on a world tour convincing developing countries to ditch the US dollar for trade. They have been successful in their quest as a handful of trade deals were settled in local currencies and not the US dollar.

In the latest update, the US Feds acknowledged that pressing sanctions against Russia in 2022 has led to de-dollarization intensifying.

US Fed Governor Christopher Waller acknowledged that the White House placing sanctions on developing countries led BRICS to kick-start the de-dollarization agenda. “If these sanctions and policies are long-lasting, the shifting cross-border payments landscape, including the rapid growth of digital currencies, could also pose challenges to the dominant role of the US dollar,” said US Fed Governor Christopher Waller.

Waller explained that China and Russia are capitalizing on the geopolitical situation and pushing the BRICS’ de-dollarization initiative ahead.

Not just Russia and China, but even BRICS members India and the newly joined country UAE are aiding the de-dollarization agenda by settling trade in local currencies and not the US dollar.

https://www.youtube.com/watch?v=Bg2QPMXkjOo