Thurs. AM-PM KTFA News Articles 11-10-22



Samson » November 10th, 2022

After its 3-day decline, oil prices are stabilizing as US inflation data awaits

10/11/2022 10:26:20

Oil prices stabilized today, Thursday, after a three-day decline, affected by the renewal of restrictions to combat “Covid-19” in China, the largest importer of crude in the world, as well as affected by traders’ anticipation of US inflation data, which may provide indications Regarding a future rate hike.

Brent crude futures fell two years to $92.63 a barrel.  West Texas Intermediate crude futures fell eight cents to $85.75 a barrel. Brent prices are down more than 6% this week, while WTI is down more than 7%. Aramco will supply all contracted quantities of oil to Asian refineries in December.  

Today, Thursday, the Chinese city of Guangzhou, the center of manufacturing, announced that it had recorded more than 2,000 infections with the Corona virus, which is the third day in which infections exceed this level in the worst outbreak in the city so far. Yesterday, Wednesday, the authorities demanded millions of residents to conduct tests for the disease, and imposed a closure on a neighborhood, while local infections in China reached their highest levels since April 30.

Data on the consumer price index in the United States will be released later on Thursday, and it is expected to show a decrease in the level of core inflation, monthly and annually. This may prompt the Federal Reserve (the US central bank) to reduce the size of the planned increase in interest rates, which will be considered a positive indicator of economic growth and demand for oil.


And the US Energy Information Administration announced that crude stocks increased by 3.9 million barrels last week, reaching their highest levels since July 2021. But fuel stocks fell by 900,000 barrels, the lowest since November 2014, while distillate stocks fell by 500,000 barrels.  LINK

Source: Dinar Recaps

Samson » November 10th, 2022

The Governor of the Central Bank of Iraq participates in the fall conference of the Iraqi British Business Council in Dubai

10th November, 2022

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhif, participated in the Autumn Conference of the Iraq British Business Council, which opens its work today, Thursday, in the United Arab Emirates / Dubai.

His Excellency said: The efforts made by countries in creating industrial and agricultural development and providing job opportunities and development cannot be achieved without the banking sector responding to the aspirations and expectations of investors and workers in the economic sector.


He added: Money is the lifeblood and the means for development, development and prosperity. We believe that our banking sector has become qualified to play the roles that everyone aspires to.

His Excellency commended the efforts of the organizers of the conference, and the generosity of the brothers in the United Arab Emirates.

Central Bank of Iraq
Media Office
10/11/2022  LINK

How will the government recover the smuggled money abroad?

10th November, 2022

The legal expert, Ali Al-Tamimi, explained the legal ways through which the government of Muhammad Shiaa Al-Sudani can recover the smuggled and looted funds outside the country. 

Al-Tamimi told Al-Maalouma, “The best international move to recover the smuggled funds abroad, which is estimated at 500 billion US dollars, is through the 2003 money laundering agreement signed by Iraq in 2007 with the help of these countries, as well as in accordance with the Baghdad and Washington agreement in accordance with Article 28 of the agreement for the year 2008″. 

He added that “Iraq has the right to recover its money in accordance with Article 50 of the United Nations Charter, which affirms the right of countries that fight organizations under Chapter VII of the Charter of the United Nations to request the assistance of the United Nations and Iraq was fighting the terrorist ISIS under Chapter VII pursuant to Resolution 2170 of 2014.” 

And he indicated that “some countries, including those mentioned, have a lot of smuggled money and are also wanted by the judiciary, and they can help Iraq recover its smuggled money, as the US Federal Bank contains 65 billion dollars frozen belonging to the previous regime and Iraq can claim it, according to the above agreement for the year 2008.”  LINK

From 6 axes .. Al-Sudani is preparing to launch a “big reform project” for the economy


10/11/2022 08:49:40

An adviser to the Prime Minister revealed that the Prime Minister, Muhammad Shia Al-Sudani, is preparing to launch a “major reform project” for the Iraqi economy.

The Chief Adviser for Economic Affairs, Abdul-Hussein Al-Anbaki, said in a press statement that “Al-Sudani is carrying out a major reform project for the Iraqi economy as a first step for the executive authority

He added that “this project works to consolidate the large competitive market, protect vulnerable segments, support the local product significantly, conduct banking reform that enables the agency to have correspondent banks abroad, adopt international standards in the field of banking reform and reduce corruption by fighting it

And he indicated that “these things are added to the empowerment of the private sector and the improvement of the business environment,” expressing his hope “that economic activity outside the state will move forward   LINK

Source: Dinar Recaps


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