Thurs. AM TNT News Articles 8-11-22

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TNT

CandyKisses:
About 300 Iraqi officials and ministers accused of corruption and integrity cases recover two trillion dinars 

The Federal Integrity Commission announced, on Thursday, that 39 ministers and those of his rank and (241) of those with special grades, general managers and those of their rank, are among the accused in criminal cases.

She explained, during a press conference, that during the first half of this year, she considered (34,209) communications, reports and criminal cases, distributed among (8,877) communications, (10,535) reports, and (14,797) criminal cases.

It noted the recovery and prevention of wasting (1,773,380,063,273) dinars of public funds to the account of the public treasury through its deterrent and preventive measures.

The authority indicated that these amounts represent what has been actually recovered to the account of the public treasury, or those that have been revealed, or the funds that have been issued court rulings to return them, which prevented and stopped their waste.

Integrity also said that its investigations led to the issuance of (731) arrest warrants by the judicial authorities, of which (396) were executed, including (8) ministers and those of his rank, and (53) of those with special degrees, general managers and those of their rank.

Integrity revealed that, during the first six months of this year, it worked on (58) files related to fugitives wanted in corruption cases, of which (23) files were processed, including (11) files against people with special degrees, general managers and those of their rank, in addition to (104 ) Files to recover the smuggled money, in which (166) judicial decisions were issued.

She indicated that she had prepared, during the same period (9) drafts of cooperation agreements and memoranda of understanding with Iraqi, Arab and international ministries and governmental institutions, one of which was concluded.

Tishwash:
The Central Bank Announces An Increase In Its Cash Reserves To 82 Billion Dollars

On Thursday, the Central Bank of Iraq revealed that cash reserves had risen to $82 billion, as well as an increase in its gold balance to record levels.

The official spokesman for the Central Bank, Omar Asim, said in a statement reported by the official “Al-Sabah” newspaper, which was seen by “The Information”, that “the bank’s reserves currently amount to 82 billion dollars.”

Assem added, “Iraq also advanced 10 ranks in the table of countries with the most gold, to become the thirtieth in the world and fourth in the Arab world, as its total possessions exceeded 130 tons, after purchasing an additional 34 tons, and this came within the bank’s policy to achieve stability and ability to confront Local and international economic variables.

Gold is one of the most important assets held by central banks and international financial institutions, due to its acceptance at the level of international dealings.  link

“Get ready to support reform.”..Sadr’s minister calls on provinces to hold mass demonstrations tomorrow – Urgent

The Minister of the leader of the Sadrist movement, Saleh Muhammad al-Iraqi, called today, Thursday, for mass demonstrations in all provinces, while recommending that the sit-in should continue.

Muhammad al-Iraqi said in his blog post, which was followed by Alsumaria News, “The reform-lovers should prepare (to support reform) by gathering each in his governorate, and at five o’clock tomorrow, Friday, you will be rewarded with the best reward and stay until further notice from this page, not the forged pages, for several reasons:

First: Envying the corrupt… and you do not tread on any foothold that enrages the corrupt except that a good deed is written for you with it.

Second: Fill out legal forms to be submitted to the judiciary in order to dissolve Parliament.
Third: Condolences to the Ahl al-Bayt, peace be upon them, on the third imam: the day of burial of pure bodies

He continued, “As we have promised you, we are obedient and patient in the heat of the weather for the sake of the love of the people of the house and the love of reforming them. Do not fall short of that.”

He stated, “There are no demonstrations in Najaf, I hope you abide by that.”

And he stated, “And the sit-in should continue their sit-in, we are grateful.   link

Harambe:
Indonesia’s Rupiah Seen Rising to One-Year High as Funds Return | Bloomberg (8/11/22)

Indonesia’s rupiah will advance to the strongest level in almost a year as the country’s trade surplus and attractive yields lure overseas investors to local stocks and bonds, according to TD Securities.

The currency will appreciate to 14,057 per dollar in the next three months, matching the high set in October 2021, said Mitul Kotecha, head of emerging-market strategy at the company in Singapore. Attractive bond yields, rising palm oil exports to China, improving terms of trade and the prospect of interest-rate hikes should all support the currency, he said

“Indonesia is finally seeing a return of flows into both its bond and equity markets, marking a significant reversal from the previous weak trend,” Kotecha wrote in a note to clients Wednesday. The report was published before the release of the US July inflation data.

The rupiah climbed 0.5% Thursday to 14,798 per dollar as Asian currencies were boosted by the slide in the dollar after US inflation figures missed estimates. The rupiah has now extended its recovery from a two-year low of 15,038 set last month to about 1.6%.

Bank Indonesia has so far pushed back against raising rates, predicting that food-price inflation may ease in coming months. While the central bank has played for time, the Federal Reserve has been aggressively tightening, although the deceleration of US inflation last month may slow its pace of rate hikes.

Bank Indonesia is likely to start its rate-hike cycle this month and shift its stance “towards a less accommodative one”, which should also help support the rupiah, Kotecha said.

The central bank will also continue to defend the currency at the 15,000 level, while “relatively higher real policy rates than other countries in Asia also offers the IDR more protection”, he wrote.

Indonesian bonds are attractive as markets refocus on economic fundamentals following the selloff in emerging-market debt and Treasuries, JPMorgan Asset Management said last month.

https://www.bloomberg.com/news/articles/2022-08-11/indonesia-s-rupiah-seen-rising-to-one-year-high-as-funds-return

Source: Dinar Recaps

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