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Sun. AM-PM TNT News Articles 10-30-22

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TNT

Tishwash:
Including “Noor Zuhair” .. The Central Bank directs banks to seize the funds of officials

According to the document, the officials are: “Hussein Kaveh Abdul Qadir, Muhammad Falah Abdullah, Abdul-Mahdi Tawfiq, Nour Zuhair Jassem, Dhiaa Abdul-Khaleq Ali, Zuhair Juma Hammadi, Osama Husam Judeh, Qais Mahmoud Mahdi and Samer Abdul-Hadi Qassem.”

The Central Bank of Iraq, today, Sunday, directed private banks authorized to seize the funds of a number of officials, including the main accused of stealing tax funds, “Noor Zuhair Jassim.”

According to documents received by Alsumaria News, the legal department of the Central Bank of Iraq directed only authorized private banks to seize movable and immovable funds belonging to a number of officials accused of stealing tax funds, including the main accused, “Noor Zuhair Jassim.”   link

Al-Sudani faces the task of achieving sovereignty and reviving the Iraqi economy

All Iraqis are waiting for the revival of the country’s economy and its reflection on the individual’s standard of living by launching investment in many fields and finding treatments for the high cost of living, as well as preserving the country’s borders and achieving full sovereignty by ending the Turkish as well as the American presence, at a time when Al-Kazemi was unable to Achieving these goals despite the many demands from various authorities and segments. 

The representative of the State of Law, Muhammad Radi told Al-Maalouma, that “there is a move towards amending the investment law in order to encourage and reassure investors inside and outside Iraq, especially since the Prime Minister has a clear desire to develop investment and support the private sector, in addition to the new government program aimed at To activate projects and investments inside Iraq in order to add them as a main resource in the country’s imports. 

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On the level of sovereignty, the leader of the Patriotic Union of Kurdistan, Ghiath al-Sorji, confirmed to Al-Maalouma, “The Turkish forces continue almost daily bombing of large areas in northern Iraq in the Dohuk Governorate, Sinjar district and other areas, noting that the file of Turkish attacks and the Turkish presence in Iraq on The new prime minister’s desk. 

On the other hand, political analyst Sabah Al-Ugaili said, during his interview with Al-Maalouma, that “Prime Minister-designate Muhammad Shia Al-Sudani may impose a special method through which he works to contain those who reject the Chinese agreement, as well as he may have steps for American interests with the aim of seizing the stick.” In the middle, as the period of Al-Sudani’s rule may witness a move towards Chinese companies in order to provide services to the country, and agreements with American companies may also meet, and this matter depends on Al-Sudani’s method.  link

CandyKisses:
Expert expects oil prices to rise to $300 a barrel

The oil expert, Hamza Al-Jawahiri, said on Sunday that setting the price of Russian oil by Europe will raise prices to 300 dollars per barrel.

Al-Jawahiri told Shafaq News, “The issue of setting a price for Russian oil is not possible with the recognition of the European countries themselves, because Russia can not sell oil to them, and therefore the harm will be more than the benefit, which these countries felt when Russia stopped pumping gas to it.”

He added, “European countries cannot force the largest Asian oil importers, such as China and India, not to import Russian oil, which is what we are witnessing today,” adding that “if Russia stops its production by 5 million barrels, it will negatively affect oil consuming countries, especially European countries, and the price of oil will rise.” Oil to $300 a barrel.

The Group of Seven (Canada, France, the United Kingdom, Japan, the United States, Germany and Italy) agreed to move forward with setting a ceiling for Russian crude oil prices, in an attempt to reset global crude prices and reduce Russia’s revenues from oil sales, primarily seeking to To inflict a “financial” defeat on Prussia.

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China is currently the largest importer of Russian crude oil with more than one million barrels per day, as well as India, benefiting from Moscow’s discounts on their purchases.

Russia is, in the normal situation, the third largest producer of crude oil after the United States and Saudi Arabia, with an average daily production of 11 million barrels, of which it exports nearly 5 million barrels per day, and 2.8 million barrels per day of derivatives.

The formation of the Sudanese government pushes the Iraqis again to demand a decrease in the exchange rate of the dollar

With the formation of a new Iraqi government, demands were renewed to change the exchange rate of the dollar against the Iraqi dinar.

And members of the House of Representatives demanded the inclusion of the voting paragraph on restoring the exchange rate of the US dollar against the Iraqi dinar to its previous official rate in the schedule of the upcoming sessions. But the Central Bank of Iraq reiterated that there are no intentions to change the exchange rate.

The Finance Committee of the House of Representatives describes that what some are promoting about the possibility of Parliament issuing decisions that restore the dollar exchange rate to what it was in the past, are nothing but auctions and tickles the feelings of the street.

The leader of the Al-Hikma Movement, Fadi Al-Shammari, said that the parliamentary talk about changing the exchange rate is a scandalous bidding of no value, adding that the biggest beneficiaries are currency traders and speculators.

Journalist Daoud Hashem considered, in a tweet on Twitter, that the corruption of those in charge was behind raising the exchange rate under the title of economic reform, adding that the markets have been balanced and prices will not go down because the state does not have the tools now.

The exchange rate has become a table among both popular and elite circles.

Economic expert Salam Sumaisem believes that the cost of restoring the dinar to its old price against the dollar will be very high, adding that what is rumored now is for the purpose of political propaganda or speculation to reduce the price of the dollar to get it at a cheap price.

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On the shoulders of many Iraqis, the question is whether the political forces and blocs that were calling for devaluing the exchange rate will be able to achieve this after their participation in the Sudanese government.

Political analyst Nazir Al-Katib suggests that the exchange rate will not be reduced to what it was previously, speaking of two direct reasons, the first of which is external factors such as the World Bank and the Paris Club, which absolutely control and control Iraqi financial resources, and the second: If the government agrees to reduce the exchange rate, the political class The governor will have to lose 40 to 60 billion dollars annually, which will go as differences in salaries and other operating wages and the like.

The decision of any change in the dollar exchange rate is exclusively the prerogative of the Central Bank.

Economic observers believe that decreasing the dollar exchange rate, a project that will not succeed, because the change in the exchange rate is originally part of the reform program of the Central Bank in coordination with the Iraqi financial policy in order to raise the financial reserves in the Central Bank and prevent the smuggling of hard currency out of the country.

On December 19, 2020, the Central Bank of Iraq announced the adjustment of the US dollar exchange rate to 1450 dinars, instead of 1200 dinars, for every 100 dollars.

Source: Dinar Recaps


Harambe:
Indonesia offers 10-year visa for US $ 128,000 in bank | Daily Mirror

(10/28/22)

In a move to increase the economic activity in the country, Indonesia launched this week a fresh visa policy that will allow foreigners to make Bali their second home.

Under the new “second home” visa scheme, foreigners can stay for up to 10 years and carry out various activities, provided they meet the requirements.

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A news report by Channel NewsAsia stated that to qualify for the scheme, those interested must have at least US $ 128,400 in their bank accounts and a passport that is valid for at least 36 months. “The aim is to attract foreign tourists to come to Bali and other destinations,” said acting Director General Immigration Widodo Ekatjahjana during the launch of the scheme on Tuesday (25). 

According to the news report, the launch takes place just a few weeks before Indonesia is set to host the Group of 20 (G20) Leaders’ Summit in mid-November, which will see thousands of delegates arrive in Bali. 

The new regulation will take effect on December 25, 2022. 

“This immigration policy is one of the non-fiscal incentives that can be a stimulus for certain foreigners to stay and contribute positively to the Indonesian economy amidst increasingly dynamic global economic conditions,” added Ekatjahjana, as reported by Channel NewsAsia.

The new visa scheme is however received with reservations by the Balinese travel sector.  Putu Winastra, head of Bali’s chapter of the Indonesian Tours and Travel Agencies expressed uncertainty as to how the new policy would help to boost tourism on the island. “The second home visa will be given to people who stay in Bali in the long term,” Winastra told CNA.

The second home visa or the golden visa has become popular in recent years. The visa scheme allows individuals to acquire a second passport or residency in another country. The scheme comes with a host of benefits, which varies from country to country.

https://www.dailymirror.lk/business-news/Indonesia-offers-10-year-visa-for-US-128-000-in-bank/273-247665

Vietnam posts trade surplus of 9.4 billion USD in 10 months | Vietnam+

(10/29/22)

Vietnam posted a trade surplus of 9.4 billion USD in the first 10 months of 2022, compared to 630 million USD in the same period last year, according the General Statistics Office (GSO).

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In October, the country’s total export and import value was estimated at 58.27 billion USD, up 0.1% month on month and 5.7% year on year, the GSO said on October 29.

The 10-month foreign trade stood at about 616.24 billion USD, up 14.1% from the same period last year.

That included 312.82 billion USD in exports, rising 15.9%, with 80.36 billion USD coming from the domestic sector (up 13.4%) and 232.46 billion USD from the foreign invested sector (up 16.8%).

Thirty-two commodities recorded export revenue of over 1 billion USD each during the period, accouting for 92.8% of total overseas shipments. Among them, six brought home over 10 billion USD each, making up 64.1%.

Meanwhile, Vietnam imported about 303.42 billion USD worth of goods, increasing 12.2% year on year, with the domestic sector accounting for 105.28 billion USD (up 12.5%) and the foreign invested sector, 198.14 billion USD (up 12%).

Forty-four commodities posted import value of over 1 billion USD each, accounting for 93% of the total imports. Four of them saw this figure at over 10 billion USD each, accounting for 52.7%, statistics showed.

Between January and October, the US was the largest importer, purchasing some 93.4 billion USD worth of Vietnamese goods. China ranked first among exporters when shipping 100.7 billion USD worth of goods to Vietnam.

Meanwhile, agro-forestry-aquatic product exports and imports totalled 82.1 billion USD in the 10 months, rising 10.2% from the same period last year, said the Ministry of Agriculture and Rural Development.

That consisted of more than 44.9 billion USD in exports (up 14.1%) and 37.2 billion USD in imports (up 5.8%), resulting in a trade surplus of 7.7 billion USD (up 83.7%).

Since the year’s beginning, eight products/groups of products have generated over 2 billion USD in export revenue each, namely coffee, rubber, rice, fruits and vegetables, cashew nuts, shrimp, tra fish, and wood products.

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The US has bought more than 11.4 billion USD worth of agro-forestry-aquatic products from Vietnam, accounting for 25.4% of total exports and remaining the latter’s biggest export market. It was followed by China (8.3 billion USD, 18.5%) and Japan (3.5 billion USD, 7.8%).

https://en.vietnamplus.vn/vietnam-posts-trade-surplus-of-94-billion-usd-in-10-months/242937.vnp

Source: Dinar Recaps

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