Fri. AM/PM TNT News Articles 3-4-22



The Iraqi street is upset by the delay in forming the new Iraqi government

It is not surprising that the process of forming the Iraqi government has been prolonged. This happened after every election held since 2005, but the deep differences this time were not accustomed to by the ruling class in Iraq.

This situation aroused the discontent of the Iraqi street, as citizens question the feasibility of early elections in light of this delay that accompanied the formation of the expected government, five months after the elections.

Ali Talib told Shafaq News Agency, a winning speaker from his small booth, “The demands made by the Tishreen revolutionaries are to eliminate the corrupt who took power in Baghdad. The elections were held, but they did not achieve their goals. Four months have passed since the October elections and they have not taken place yet.”

Choosing a President of the Republic as well as a Prime Minister, and this may negatively affect many areas related to the life of the citizen.

He added that the political parties must solve all the problems facing the political process and form a government of services as soon as possible, because the only person affected by the delay in forming the government is the simple Iraqi citizen.

The delay in forming the new Iraqi government was not only negatively reflected on the political side, but was also largely reflected in the economic reality due to the delay in approving the federal budget for the current year.

For this reason, the observer of Iraqi political affairs, Mahmoud Yehudi, confirms to Shafak News Agency, that the caretaker government does not have the right, according to the constitution, to pass the federal budget of the Iraqi Council of Representatives according to the Iraqi constitution.

And a Jew indicated that forming a government according to these data requires a time of at least five months to come, and this means disrupting many aspects of life during that period at a time when the Iraqi citizen suffers from successive crises.

However, political meetings between the various parties intensified, with the conflict remaining open between the leader of the Sadrist movement, Muqtada al-Sadr, who is looking for a national majority, and the coordinating framework that is looking for consensus, while no signs appeared that could be inferred to the form of the next government.  link

Expert: Oil Prices Will Not Fall Below $90

The expert in oil affairs, Hamza Al-Jawahiri, confirmed, on Thursday, that the current prices will not rise more due to Russia achieving its goals after it besieged the Ukrainian cities and largely neutralized the Ukrainian forces, indicating that the coming months will witness a decrease in prices, but it will not reach less than 90 dollar.

Al-Jawahiri said in a statement to “Information”, that “the Russian-Ukrainian war, which led to a large and unexpected rise in oil prices, is the golden opportunity for Iraq by investing the money earned from the rise to develop its infrastructure and activate non-oil economic activities.”

He added, “Oil prices will not rise more, and if they rise very little, because Russia achieves its goals after it besieged the Ukrainian cities and largely neutralized the Ukrainian forces, and that stopping the war is almost imminent,” noting that “the coming months will witness a decrease in prices, but it will not reach less than 90 dollar” 

It is noteworthy that oil prices exceeded the price of Brent crude, on Thursday, the threshold of 119 dollars a barrel, while the price of West Texas Intermediate crude jumped by more than five percent, in a rise caused by the growing fears over oil supplies, as a result of the continuing Russian war on Ukraine


Can u believe yada it’s March and we still haven’t RV’d?

We are in the process and they are backed into a corner. Think of what those in authority have done. The Good guys follow the rules while the bad guys use the rules to serve their purpose. Kadzimi is playing them like a violin because he is using the rules, constitution, against them. To think that 2-7-22 was our intended day for the release. Instead, it weakened those who played the stop card and look where they are now. Forced to get back in line

An economist determines a way to track the region’s sold oil and the money obtained from it

The economic expert, Safwan Qusay, stressed today, Friday, the importance of a parliamentary move to legislate the Oil and Mineral Resources Law, while defining a way to track the oil sold in the Kurdistan region.

Qusay said, in an interview with Earth News, that “despite the issuance of a decision by the Federal Court that oil exports from within the fields of the Kurdistan region should be handed over to the Federal Ministry of Oil through the SOMO Company, but it seems that there is an insistence by the legislative side in Kurdistan on the need to present this The matter is in the form of a federal oil law in order for the wealth to be divided in a legal way.”

He added, “Such a topic will lead to a continuation of controversy over the region’s share in the federal budget,” noting that “the process of presenting this issue to professional parties such as the Office of Financial Supervision, through which we can track the movement of sold oil and the money that is collected through these exports.”

And he continued, “It is possible for a Sumo company to have a branch within the borders of the Kurdistan region, which is responsible for the export process as well as involving the region’s side in managing this company in all transparency,” stressing that “the issue needs a parliamentary move in order to resolve it and enact a law for oil and mineral resources to be Transparent to all Iraqi provinces and the region, with the need for all parties to abide by it.

The Federal Supreme Court had earlier issued a ruling ruling that the Oil and Gas Law of the Kurdistan Regional Government, issued in 2007, was unconstitutional, and rescinded it for violating the provisions of constitutional articles, as well as obligating the region to hand over oil production to the federal government   link

Source: Dinar Recaps

VN moves towards cashless society

An ecosystem for cashless payment is essential for Việt Nam to encourage people to switch from cards to contactless and digital payment, an important factor in the country’s digital transformation.

The COVID-19 pandemic has seriously affected the economy and changed the way we pay, with people forgoing cash in favour of contactless payment.

National Payment Corporation of Việt Nam statistics show that around 1.86 billion cashless payment transactions worth VNĐ23.6 quadrillion were made in 2021, rising by 169 per cent and 164 per cent, respectively, compared to 2020 and 2019.

Thu Hiền, from Gò Vấp District, HCM City, said online shopping and payment were becoming more popular and convenient.

Hiền said previously she had to go to her children’s schools to pay for their tuition, but the schools now accepted bank transfers and even e-wallet payments.

According to Nguyễn Anh Đức, general director of Saigon Co.op, the supermarket chain saw the percentage of customers making cashless payments increase from 4 to 40 per cent during the pandemic.

Saigon Co.op’s survey showed that around 32 per cent of consumers were in favour of cashless payments, and 17 per cent said they would make more cashless payments in the future.

Although there were positive results in cashless payment since the pandemic, Việt Nam still faces difficulties expanding cashless payment as cash habits still dominate, and people are worried about security.

Thùy Trang, owner of a fruit store in Tân Phú District, said more than 95 per cent of orders at her store when strict social distancing measures were in place were cashless. However, she said there was a drop in cashless payment since the city returned to normal.

According to Cấn Văn Lực, a senior expert of the Bank for Investment and Development of Việt Nam, Việt Nam is among countries with a rapid increase in electronic payment in the region.

However, attention must be paid to speeding up the development of information technology and telecoms infrastructure, national databases and data-sharing to promote cashless payment.

Banks, financial technology, e-wallets, and telecoms were racing to build non-cash payment ecosystems to encourage consumers to forgo cash and switch to contactless and payment.

Late last year, the State Bank of Việt Nam gave the nod to two telecom operators, MobiFone and Vinaphone, to pilot Mobile Money, which allows payments of small sums via telecom accounts.

In early December, telecom operator Viettel introduced the digital financial ecosystem Viettel Money, which was expected to accelerate cashless payment in Việt Nam.

Financial expert Nguyễn Trí Hiếu said that Mobile Money would help more people in remote areas without bank accounts to make cashless payments with greater convenience.

According to Deputy Minister of Information and Communications Phạm Đức Long, about 50 per cent of the population do not have bank accounts and most use cash for payments worth less than VNĐ100,000.

Mobile Money will help expand cashless payment to most people, especially rural, mountainous and remote areas where banking and e-wallets services are not popular.

The project on the development of cashless payments in Việt Nam for 2021-25 is creating a crucial legal framework for the development of the cashless payment ecosystem.

Governor of the State Bank of Việt Nam Nguyễn Thị Hồng said that the central bank would improve the legal framework on cashless payment and fintech sandboxes to promote cashless payment.  

In addition, the infrastructure will be improved to enable linkage between banks and payment intermediaries with goods and services providers ensuring instant processing and round-the-clock operation.  link

Source: Dinar Recaps


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