Sat. PM KTFA News Articles 4-23-22

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Samson » April 23rd, 2022

Iraq to Re-Open Embassy in Vietnam

21st April, 2022

Iraq’s Cabinet has approved the recommendation of the Ministry of Finance to re-open its embassy in the Republic of Vietnam.

It’s decision was made providing it does not lead to an increase in the total number of diplomatic staff.

The representation will be resident, as it had been previously.  LINK

Dubai Financial Market Accredits HSBC Bank as the First International Service Provider to the General Clearing Member

19th April, 2022

Dubai Financial Market has announced the approval of HSBC Bank as the first international provider of general clearing member service in the market, which will enable the bank to provide clearing and settlement services to its various clients as well as to trading members in the market.

A statement by the Dubai Media Office stated that, “It is expected that the bank will start providing the service on shares listed on the Dubai Financial Market in May.”   LINK

A legal expert calls for benefiting from the experiences of other countries and activating an important principle

04/23/2022 13:45:42

Legal expert Ali Al-Tamimi demanded, today, Saturday, to benefit from the experiences of other countries.

Al-Tamimi said in a statement, which {Al-Furat News} received a copy of, that “the law must be applied to everyone without exception, the judiciary is independent, the judge is a safeguarded right, and the judges are independent, and it is not permissible to interfere in the affairs of judges, these international principles in litigation and legal procedures.”

He added: “There is no difference in litigation between a politician, a wealthy person and a construction worker. All are equal. There is no effect of these factors on rulings and courts with evidence, wherever it tends, it tends with it, and we have in Iraq gradualism in litigation from appeal, discrimination, correction and retrial, which are guarantees that are resorted to when there is a deviation in the application of the law”.

And he indicated that “the rule of law exists and is applied, but what is important is justice, which is the heart of the law. The texts are rigid, but the one who applies them is the judge who searches for justice and the spirit of the law and applies the law as it is like death.

No one is excluded. Judges are the hearts of God on earth and they are the ones who rely on them in justice.” Because they are a symbol of justice.”

He concluded: “Today, we are in dire need of implementing the principle that no one is above the law, and the law applies to everyone, and that we benefit from the experiences of other countries in terms of judicial independence, because countries transcend, transcend, and feel a civilization that combines the past, the present and the future.”   LINK

Moscow: The European Union will not last a week without Russian gas

23rd April, 2022

Deputy Chairman of the Russian Security Council, Dmitry Medvedev, announced on Saturday that the European Union countries will not last a week without Russian gas.

Medvedev published in “Telegram” a comment on media reports about the European Commission sending a document to the member states of the European Union, explaining the mechanism for paying for gas “without violating the sanctions regime”, and indicating the possibility of paying for gas in Russian rubles in implementation of the decision of President Vladimir Putin.

Medvedev said in his post: “We evaluate the stability and principledness of our European partners, especially in light of new data issued by the International Monetary Fund, which indicates that Europe cannot do without Russian gas for more than 6 months.” He added, “And if we talk seriously, they will not last even one week.”

The head of the European department of the International Monetary Fund, Alfred Kamer, had stated that Europe cannot do without Russian gas for more than 6 months, and after that it will face economic problems.   LINK

Source: Dinar Recaps


Samson » April 23rd, 2022

Russia: BRICS countries have already become the core of a multipolar world

23rd April, 2022

Spokeswoman for the Russian Foreign Ministry, Maria Zakharova, considered that the system of international relations is undergoing a profound transformation, stressing that the BRICS countries have already become the nucleus of a multipolar world.

“It is important that the BRICS countries, as well as many other countries, focus on their own development and constructive international cooperation. The vast majority of world players do not succumb to attempts to persuade them to impose sanctions on Russia, or at least openly criticize us,” Zakharova said.

“Russia will continue to work in the international arena to promote the principles of sovereign equality of states, non-interference in internal affairs and cooperation on the basis of a balance of interests. To this end, we will continue to actively cooperate with like-minded BRICS countries, the Collective Security Treaty Organization, the Shanghai Cooperation Organization and other friends and partners,” she added.”

She added that countries that have chosen a multipolar system have an opportunity to preserve their identity and develop policies based on the interests of their people, and said: “This is the true freedom and independence. Countries that do not want to obey the instructions of others, can not adopt the neoliberal agenda, and continue to adhere to spiritual and moral values.” traditional culture crystallized by mankind over thousands of years.

Zakharova noted that the system of international relations is undergoing a profound transformation, and that the unipolar world was a thing of the past long before the events in Ukraine.

She added: “New centers of power in Asia, Africa, Latin America and the Middle East are playing an increasingly prominent role in shaping the global agenda, showing willingness to defend their interests, and demanding respect for their own development path.” LINK

Agency: Washington’s Addiction To Using The Dollar As A Weapon Will Lead To Its Collapse

22nd April, 2022

The Chinese “Xinhua” agency reported that Washington’s addiction to using the dollar as a weapon is triggering a backlash as the world’s confidence in the dollar and the global financial transaction system it supports are declining.

“There is only one way to explain the insanity of Washington’s politicians: they have become too arrogant to make rational decisions,” said a report published by the agency.

The report noted that Washington is participating in the Ukrainian war, “even without firing a single shot or deploying any soldiers in Ukraine, the United States is still considered one of the fighting parties in the Russian-Ukrainian military conflict. By weaponizing Washington’s global financial supremacy, its financial terrorism is escalating an already highly charged confrontation and sending shock waves around the world.”

The report pointed out that the Americans “at the moment Moscow launched the military operation, Washington rushed to impose many sanctions against Moscow, as it worked to remove Russian banks from the international financial messaging system “SWIFT” and freeze any Russian assets “related to the American financial system.” and the threat to “crush the Russian economy.” Russia and the rest of the world have already felt the repercussions. In the wake of the sanctions, rating agencies downgraded Russia to “junk”. The Institute of International Finance predicted a double-digit contraction in Russian economic growth.

Globally, the report noted that the sanctions “fueled sharp increases in oil and natural gas prices. The surge in the prices of key commodities has accelerated high inflation in many countries and weakened the already faltering global recovery from the pandemic.

The report emphasized that, “It is quite clear that the United States, by exploiting the global dominance of the US dollar, turned the international financial system into an international sanctions regime… in the mid-sixties of the last century, when fixed exchange rates were replaced on the basis of the gold standard after World War II Gradually with a global system that relied on the dollar as the primary means of payments and cross-border reserves, then-French finance minister Valéry Giscard d’Estaing coined the phrase “exorbitant privilege” to complain that the United States was benefiting from the dollar’s dominance in self-interest.

Over the past 50 years, the United States has turned this “exorbitant privilege” into a “exorbitant weapon of financial mass destruction” of geopolitical conflict, and has pulled the trigger several times.

LINK

Iraq exceeds the Arab countries in the growth rate .. IMF: GDP will reach 9.5%

23rd April, 2022

The International Monetary Fund expects; Iraq’s GDP growth will reach 9.5% and annual inflation will reach 6.9% during 2022.

The fund said in a schedule it issued for the month of April, which was reviewed by Shafak News Agency; It is expected that Iraq’s domestic GDP, which placed it under the category of oil-exporting countries, will grow by 9.5% and 5.7% for 2022 and 2023, respectively, exceeding all Arab oil-producing and non-oil-producing countries, indicating that GDP growth for 2021 It reached 5.9% during 2021.  

He added, “The annual inflation in Iraq is expected to reach 6.9% during 2022, up from 6% during 2021, noting that inflation in Iraq is expected to decrease in 2023 to reach 4.7%.” The fund indicated that “it is expected that Iraq’s current account balance will reach 15.8% and 10.1% during 2022 and 2023, respectively, up from 5.9% in 2021.” 

Fund experts expected that the GDP growth rate for the Middle East and Central Asia would be 4.6% in 2022 and 3.7% in 2023, and the annual inflation for the same region is expected to reach 12.8% in 2022 and 10.5% in 2023.

A positive current account balance indicates that the country is a net lender to the rest of the world, while a negative current account balance indicates that it is a net borrower from the rest of the world, and a current account surplus increases the country’s net foreign assets by the amount of the surplus, and a current account deficit reduces that amount.    LINK

Source: Dinar Recaps

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