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Laid Back

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5 minutes ago, Laid Back said:

"The implementation of a vital new petroleum law passed in March that sets the scene for better relations between the Iraqi government and international oil companies could well be among the casualties of prolonged political wrangling."

 

I believe they are taking about "the national oil company" law..... The Kurds are not happy with their share

of the budget, equal to 12.67%

 

Go RV

Go profit sharing

Go purchasing power

 

Hammock Boy Drops The Mic And Sleep Walks Off ...

 

:D  :D  :D 

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From Thamer Hymes ! ;) 

 

:D  :D  :D 

 

 

Decentralization and performance

07/7/2018 12:00 am 

 

Thamer Hymes 
Decentralization extends its power from the Constitution and assumes that there are elected institutions of government (provincial councils) responsible to citizens based on the principles of decentralization, namely recognition of the existence of the independent moral character of the local units and their recognition of the existence of national interests. This is a justification for adopting an administrative system, And not inconsistent with the goals and national premises - as reported by the general framework of the plan National Development. 


When we hear the governor of Wasit in a statement that (as a result of decentralization increased revenues from (7 billion dinars in 2007 to 21 billion dinars in 2017) that it is heartening in principle thanks to the serious activation of the law limited powers that do not interfere with national goals and premises. 
In any case, it means good performance in the framework of decentralization, and this model has not withdrawn on other decentralizations for different reasons. We also do not have rates, criteria or scientific models for comparison because the criteria are not included in the priority list. 

(A foregone conclusion). 
In general, we can say that the good performance of the same pot is more than usual, but it remains by any standards we measure and compare, because without (comparison and criticism) no one can progress individual or group. 
For example, in a statement to the head of the Customs Authority, he said that the imports of customs for the month of June of this year amounted to 23 billion dinars, while the income of the first four months of the same year slightly more than 22 billion dinars). 

Where the sonar devices have been idle for years and have not been repaired but can not be adopted as a fundamental reason. 

It is important that there be seriousness in the work, where we have not heard about the punishment of the poor or the reward for efficiency, in addition to the absence of the standard in light of which we reveal the points of failure of success and failure together; it is known that the import starts from the license issued by the Ministry of Commerce and possible, Hard currency, an initial determination of profit, according to which the tax and the customs fee will be determined up to the income tax, and the external transfer under the leave will also be an indication. 

Decentralization of the provinces must be free from bureaucracies by adopting flexibility in dealing with local resources to serve the objectives of the five-year plan and sustainable development, which has become a strategic option after the dominance of oil rent and its consequences; Decentralization is therefore an essential tool for sustainable development after the availability of legal will and economic plan realism.

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From - Aqeel Jabr Ali Al - Mahmoudawi

 

Try And Pronounce That Fast Even Once MoFo’s ! :o 

 

:D  :D  :D 

 

Iraq's position on maintaining growth and achieving prevention of financial and economic risks

07/7/2018 12:00 am 

 

Aqeel Jabr Ali Al - Mahmoudawi 

 


Economic policy, with its various branches, whether financial, monetary, commercial, or other, is one of the means of the governments of countries to achieve a set of economic and social objectives of particular effect. Of course, human and natural resources are involved, as well as balance in the external economic sector and financial and economic stability and thus the equitable distribution of individual incomes. 

When finance ministers and central bankers representing the G-20 members met in October, optimism prevailed over the recovery of the global economy and the opportunity for necessary reforms. 

When they met again in Buenos Aires the following week, they focused on the policies needed to protect this recovery from the risks of negative developments and promote growth in the next phase. 

The good news is that the momentum of growth is growing stronger across three quarters of the global economy. Moreover, the expected recovery indicators suggest that they will lead to prudential requirements and impose a slowdown at the end of 2018 and 2019, which means that the medium term outlook will pose challenges to many Especially developed economies. Therefore, developing countries, including Iraq, need to implement policies to prevent the risks of negative developments, enhance the strength and strength of the economy, and support medium-term growth that benefits all. We have international financial and economic commitments with the Bank, It has some international and international financial institutions on the scheduling of debt repayment obligations the public debt. 

We believe that this is the ideal time to take bold policy measures and make the most of the world's growth period; advanced economies in the current and next years are expected to have growth rates that exceed their medium-term growth potential, which is still below the required level and growth and sustainability are expected to increase. Emerging and developing countries, including Iraq over the medium term, are supported by a limited improvement in the outlook for commodity exporters. 

Steps, with practical priorities, are expected from the International Monetary Fund (IMF) and international financial institutions 
- Stay away from protectionism (destructive because it imposes the greatest pressure on the poorest consumers who buy relatively cheaper imports). 
- Addressing the global economic imbalances is not imposed by new trade barriers, but must be addressed by using financial instruments, including reducing the deficit to reach public debt to a sustainable path and the need to strengthen investment in infrastructure and increase spending on education, agriculture and industry to meet the requirements of development. 

Prevention of financial risks 
At the global level, the debts of sovereign entities, companies and institutions levels are unprecedented high, but in Iraq, the public debt exceeded 100 billion dollars and this would show real danger to the financial situation and may reach a stage of financial crisis real. 
The scenario of inflationary growth can be seen as an unexpected boom and the financial situation is suddenly tightened. These changes drive correction in financial markets and this is evident in improving performance and active diligence in dealing with Iraq's financial instruments and policies. 
There are real concerns about the affordability of public debt and the reversal of capital flows in emerging markets. 
Countries such as Iraq could seize the opportunity of the current economic growth momentum by adopting safety margins in their public finances, creating a space to manage the expected downtime according to economic situation variables and using their macro and micro prudential policies actively. In emerging economies, flexible exchange rates could help ease The external shocks, either in Iraq is indicative of the non-elasticity of exchange rates and closer to the stability and this is what we have seen in the crisis of low prices for the sale of oil and the exposure of Iraq from strong economic and financial shocks directly affected the reality of the federal budget and the disruption of federal projects Mariyah and development. 

Accelerating economic reforms 
These reforms can be implemented significantly and easily whenever economies are healthier. In other words, now is a good time to accelerate reforms and must target markets and key labor sectors. 

Reduce skills gap 
The reduction of the skills gap is more important today than ever before, because the digital revolution, electronic commerce and the digital economy are beginning to transform workplace and industry. McKinsey's global estimate is that 375 million workers at 14 percent of global employment may be at risk of losing jobs by the year 2030. 
We can certainly say that it will require action at the level of national strategies and policies. 

Documenting international cooperation and beneficial international agreements 
Efforts should be intensified and agreements concluded in the form of mutual interests, attract investment, increase the movement and cycle of capital that achieve financial stability and mitigate the expected financial and economic risks, including the risk of increasing public debt and the risks of money laundering and terrorism financing. 

Therefore, we believe that there are basic requirements for the prevention of financial and economic risks in Iraq as the precise identification of the model and the appropriate Iraqi economic model is very important in accordance with the capabilities and capabilities of Iraq and its geo-economic and geopolitical position, as well as the need to create a department to manage risks and crises, The State, both in the public sector and the private sector to become decisions of the decision-maker more accurate and correct and away from decisions based on non-specialized committees and studied. 

It is necessary to submit plans and strategies to the oversight and audit of the Office of Financial Supervision and to prove its real institutional reference to achieve effective control and implementation, evaluation and evaluation in a realistic, thoughtful and concrete. 

We believe that the deterioration of the financial and economic crises in Iraq is beginning to change some of the managers of this file and neutralize it nationally and strengthen it with financial figures ambitious and able, as well as the economic figures expert has the ability and possibility of the practice of professional and scientific not only at the local level, but internationally and knowledge of technology electronically. 

As the file efficiency management and leadership of the economic and financial file is vital and strategic, which directly affects the structure of the Iraqi economy and rebuild the infrastructure to qualify the national agricultural and industrial sectors. 

It is necessary to transfer the public debt portfolio to an expert working team, accounting and legal specialist independently of the federal budget and subjecting it intensively to the internal and external audit bodies, and to work on scheduling the public debt and analyzing debt reconstruction with transparency, professionalism and responsibility. 

It is also important to change the reality of investment vision and culture and accurately diagnose the reality of investment risks in Iraq, and requires planning and hard work specialized to prepare the requirements of the investment environment and work on the study of investment risks and create real incentives for an investment market that attracts investment and foreign capital and encourage economic growth that shares its fruits everybody. 

* Financial Researcher 

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Antoine: The Supreme Economic Council must be a specialist

07/7/2018 12:00 am 

 

The government intends to set up to activate the productive sectors 

Baghdad 
The government seeks to form a higher economic council and link it to the Council of Ministers to work on increasing per capita income, stabilizing prices and providing productive employment opportunities, as well as optimizing the employment of human resources and operating them while controlling public debt and placing it within secure borders, as well as emphasizing the fair distribution of income and opportunities to diversify the economic base. The public revenue should be the private sector one of the pillars of this Council. 


private sector 
As for the formation of a higher economic council, the deputy chairman of the Iraqi Economists Association, Jamil Antoine, said: "10 years ago, with the process of administrative and economic reform of the state and the reconstruction of an efficient administrative apparatus to implement reforms and transform the economy from rent to production, Which can employ the largest number of unemployed workers and reduce poverty rates ». 
"In the context of a social market economy, as mentioned in the five-year plan, we see the use of elements far from professional and knowledge and the formation of committees to satisfy only those who have nothing to do with the economy," Antoine told Sabah. 
He stressed that "the main building blocks for the formation of the Economic Council is the active private sector, represented by industrialists who invest and work in the country, they are the basis for building a real market economy and to lead the process of economic reform and building a productive sector representing industry, agriculture, tourism and other services, not the private sector. "The role of the active private sector contributes to the survival of the country's wealth within it and not leave it through commercial investments." 
Antoine said that "it is OK to feed this Council of the university professors of practical specialists, to be a successful step away from corruption and people recognized in their history to build the country because this elite should be the builders of the basic rule. 

Professional organizations 
"It is commendable to participate in this Council specialized government departments and not intruders on the process of investment and management and a number of competent professional organizations, and officials in some ministries of competence, competence and integrity to submit proposals 
Constructive. " 
He pointed out «the participation of some of the civil society organizations with competence to be able to access the workshops may not be accessible to the government sector by virtue of their economic and social relations and crystallize good ideas as consultants in the Council through their experience 
Wide. " 
"We have contributed to the writing of industrial, tourism, professional and road map strategies, and now these issues are all on the shelves and there is no one to implement them," Antoine said. "There is a big gap. Between application and implementation and writings, if we return to the economic literature and what was written to find there are dozens of strategies and plans placed and not implemented ». 

Lawmaking 
He stressed that "such a council needs to legislate a law that regulates its work and that the private sector participate in writing this law and determine the objectives and specifications of the people who will work in it. Therefore, there is supervision, calculation and auditing of the work to be submitted during the period prior to its establishment to be discussed and above all In the Council of nationalists and owners experience and efficiency in their work, whether in the market or in the state and are recognized for integrity. 
Antoine spoke of "the presence of several parliamentary committees, but its members lack economic jurisdiction because the theoretical ideas need to be implemented by the experienced to work away from red tape and bureaucracy." 
"The council should be accompanied by a simple and orderly administrative system whose members have been chosen from the elites to build a country with a solid economy and a solid base," he stressed. 
He pointed out that «the budget of the Council must be allocated from the budget and be simple, besides the allocation of a small building of 10 to 12 employees of the government departments and the private sector are tasked with the progress of proposals and the implementation of the work and the provision of allocations to spend the budget at the beginning of the year to serve this 
the Council".

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On 7/7/2018 at 12:13 PM, DinarThug said:

DJ Umbertino Would Be Proud - They Made It Into Casey Kasem’s Top 40 ! :o 

:D  :D  :D 

 

On 7/7/2018 at 1:28 PM, Gypsygirl11 said:

Lots of GOLD...that's always good!

 

DJ Umbertino Really Knows How To Rock That Bling ! :o 

 

 

 

:D  :D  :D 

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52 minutes ago, Pitcher said:

Ok, Thug,  You owe me 3 funny ones for that terrible pic   Haha.image.gif.81a47cc06e598c870d503f37021b76b1.gif

 

The Entire Iraqi Government Is A Joke ! :o 

 

(so add that to my comedic ‘pitch’ count)

 

:D  :D  :D 

 

 

 

 
 
Ahmed Alaa
 
2018/7/7 04:12:13 PM 

Iraqis differ on many things, but agree on one thing: they live in the most corrupt country in the world, with few exceptions that do not deserve theft.

 

Iraqis see themselves as the victims of a backward state, suddenly hiding hundreds of billions of dollars in the pockets of the ruling elite over the past years, while everyone suffers from a lack of everything in jobs, homes, water and electricity.

 

The popular anger against the political class that came to power in 2003 explains why the movement led by radical Shiite cleric Moqtada al-Sadr, who is demanding political and social reform and allied with the Iraqi Communist Party, is leading the election results.

 

The turnout in the weak elections shows a strong condemnation by people that nothing will change, no matter what form the next government is, which is still being corrected together in negotiations between the winning parties. "My friends went to the polls hoping for change, but they were disappointed and say they would not vote again," says one Baghdad resident.

 

The Iraqis refuse to say they live in a rich country, ranking OPEC's second-largest oil reserves, and also see their wealth stolen from their eyes year after year.

 

I was in Ramadi, the capital of Anbar, looking at the damage of the war. Muzaffar Abdul Ghafoor, 64, a retired engineer, had just finished rebuilding his house, which was destroyed by an air strike. "I did everything myself, and I did not get any compensation from the government," he says. 

 

Adding bitterly that "some of them had healthy homes to a large extent have received compensation because they bribed officials." "Write about Iraq, which has no government! It has a group of thieves," he shouted at me.

 

In return for Baghdad, I visited the middle class, in Mansour and Yarmouk, and spoke with the real estate dealer Safwat Abdel Razzaq, who confirms that there is a movement of buying and selling, and doubled property prices in this region during the past two years, while looking less optimistic about the future because of weak government and above all Because of corruption rampant state, indicating "the government has no credibility, and wherever you go ask you to bribe." 

 

"The contractor must always pay the officials to win a contract and one of the businessmen sitting in the office said that 50 percent of the contract price goes to corrupt officials," Abdul Ghafoor said.

 

Residents in these areas appear to be well-off, but they complain about their own reputation in the stronghold of the Shiite working class, Sadr City, where the piles of garbage are abundant. "Young people now, a lost generation can not get married because they do not have jobs and they have no chance of working," said one representative of the armed factions there.

 

Exaggerating examples of official theft have been repeated since the new political class came to power in 2003, mostly Shiites and Kurds. When the government was supposed to fight terrorism, the 2004 and 2005 military budgets of $ 1.3 billion went when the state bought non-functioning explosives detectors at checkpoints, while booby-trapped cars reaped lives passing through those points.

 

No one can answer the question: how did successive Iraqi governments escape these blatant thefts for a long time? For years they looted oil revenues by claiming that the fight against al-Qaeda and later to be heard is the only thing about anti-corruption. 

 

In Iraq, corruption machines operate in a slightly different way from any other place because of the role of political parties. "If the political system is not changed, it is impossible to fight corruption," Mohamed Saleh, the prime minister's adviser for economic affairs, told me.  

 

"The reason for this is that the parties are using the government ministries they control as cash cows and care machines to maintain their authority," he said. 

 

Corruption in Iraq can not be eliminated, but it can be less destructive. When Abadi became prime minister in 2014, a preacher was advancing in Baghdad and oil prices were good.

 

"The government has cut spending by 37 percent by removing" tied "items - the money spent for nothing at all," Saleh said in response to the crisis. Corruption will remain, but in the future, Iraqis can at least hope to get something for their money.

 
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I really hope they are serious with this 3,or 4 dollar amount ive been waiting almost ten years for this to happen ive been living day by day like a pauper i dont know how much longer i can live like this .....go rv !!!!!!

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10 hours ago, DinarThug said:

 

 

Quote

Iraqis for the Independent: Our country has no government, but a group of thieves

 

The Entire Iraqi Government Is A Joke ! :o 

 

 

(so add that to my comedic ‘pitch’ count)

 

:D  :D  :D 

 

 

 

 

 

That's what Trump called them.  The Iraqis really are slow on the uptake.  Hopefully Trump's envoy that is heading over there is going to put the cattle prod on them for you know what.

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10 hours ago, NextYear said:

Hopefully Trump's envoy that is heading over there is going to put the cattle prod on them for you know what.

 

If They Don’t Act - Trump Will Have Them Sent On The Next Camel Out Of Town ! :o 

 

Camel bites man's ass

 

:D  :D  :D 

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How does the Iraqi economy develop in the presence of corruption ?

5b4167e2c7b1a.jpg 

 

8th July, 2018 by Dr. Sadiq Hussein Al-Rikabi


The number of people living in countries suffering from corruption is nearly 6 billion people, where poverty is prevalent in most of these communities and services are worsening, especially in the education and health sectors.

There are multiple definitions of corruption, but what concerns us here is the use of power or public service. According to Transparency International, corruption is "any act involving the misuse of the public office for the sake of a particular self-interest or a particular group."

Iraq suffers from the spread of corruption in all its forms. In addition to financial and administrative corruption, there is political and social corruption. Corruption has contributed to a 20% rise in unemployment, while more than half a million Iraqi children are in the labor market and 3.5 million are out of school.

Lost opportunities:

Although Iraq is swimming on lakes of oil, this has not been able to support the process of development and human construction and oil was unable to finance the infrastructure to diversify the economy.

Although foreign exchange reserves stood at about $ 84 billion in 2009, they fell to $ 49 billion in 2017 despite an increase in oil production. An average of $ 130 million a day comes out of Iraq because of the sale of the currency, which is riddled with corruption.

Today, Iraq has become a country that can not complete any project without being financed by borrowing (internal and external) of about $ 135 billion, which is more than 30% of the value of GDP.

Corruption has caused billions of dollars in lost investment, with more than 6,000 fictional projects estimated at over $ 200 billion. Until 2016, there were 4 thousand projects parked at a value of 5 trillion dinars (some of which are not economically viable and borrowing to achieve, but the rate of achievement did not exceed in most of the 20%).

These poor statistics come in the form of explosive budgets. Budget surpluses between 2006 and 2014 alone amounted to about $ 120 billion, while the total budget in the same period was at least $ 700 billion, all of which went into the pockets of the corrupt.

But what are the main reasons for not controlling corruption in Iraq?

There are many reasons not to control the corruption in Iraq, but we will try in this short paper to address the most prominent of which are:

1 - The multiplicity of regulatory bodies and their weakness to the influence of corrupt, strengthened by the power of arms and rooted in most of the facilities and institutions of the State, where the role of the Financial Control Bureau was weakened and created institutions such as the Integrity Commission and the Office of the Inspector General,

2 - weak oversight role of the legislative institution, especially with regard to transparency, despite the huge budgets, but it is still without disclosure of the final accounts and knowledge of cash flows, which amounted to about 1 trillion dollars between 2003 and 2017.

3- Weakness of the accounting systems of banks and their failure to connect to the international network while remaining behind the technology, which contributes positively to strengthening supervision and tracking of funds and transfers. The Central Bank of Iraq, for example, is still very far from the system of documentary credits for the import and export of goods to prevent the exit of hard currency for fictitious accounts, as happens in the case of (flying instruments) and others. The Central Bank of Iraq is the only financial institution in the world that sells the currency of its country auction, which leads to the depletion of cash reserves and wasted a lot of opportunities for the benefit of other neighboring countries developed with purely Iraqi funds.

4. Public sector inflation and the transformation of the ministries of the state from a business entrepreneur to an investor competing with the private sector until the public sector becomes a center for the unemployed that burdens the state and costs more than half of its annual budgets.

This has been reflected in the performance of the private sector, which is almost non-existent in the Iraqi economy, while the public sector is swollen so that the number of its employees reached 7 million employees (including 3.2 million retirees) estimated at 4 billion dollars a month and productivity efficiency equivalent to half an hour a day.

5 - impede the work of the private sector, specifically small and medium enterprises that support youth and provide employment opportunities and contribute to the diversification of the economy and replace them with small grants without clear strategies for development, which contributes to waste public money without real gains negligible.

6 - Lack of experience resulting from the deliberate neutralization of competencies or polarization, which places the inappropriate person in a place that fits originally another person more experienced and efficient than him.

7 - Lack of productive environment to accommodate the huge preparation of the unemployed and reduce poverty, which is one of the most important causes of financial corruption in Iraq. According to the Ministry of Planning has increased the number of people living below the poverty line in Iraq in 2016 to 30%, an increase of 6.5% from the proportion of the announced in 2015, which was more than 25%, which indicates the aggravation of the problem and its escalation.

8 - Poor education and educational curricula that create an environment against corruption and contribute to raising awareness of its dangers.

9 - The weakness of the moral system in society and the negative shift in some values, so that the employee of the Secretary turned public expression to the "coward or gashim" or the corrupt employee is (shared or successful) and bribery became a gift or a more popular term (commission).

10 - The corruption of the media and forced him to benefit party groups or beneficiaries of state funds and turn it into a mask to beautify the face of corrupt or trying to dilute the issues to be a loose freedom or false democracy.

11 - Lack of a real political will to fight corruption, despite the existence of physical evidence sometimes reach the recognition of the crime publicly on the air and in front of millions on television screens, but without a check. Indeed, the successive governments of Iraq since 2003 have mostly covered corruption in favor of political deals that serve only the parties of power.

suggested solutions:

This deteriorating reality does not prevent the existence of a number of solutions to overcome this rampant disease in the body of the Iraqi state and reform the economic situation. This is as follows:

1- Developing the legal environment and legislation in line with the protection of the rights of citizens and investors alike and respecting the implementation of these laws in accordance with the rule of law.

2. Modernize the judicial system and raise the efficiency of judges and provide support and physical and moral protection for them.

3- Enhancing transparency in management and financial procedures and applying modern technological systems to track money in banks and prevent evasion and avoidance of tax.

4 - Developing the work of banks and setting strict conditions for the establishment of private banks.

5- Ending the system of selling the currency by auction and linking the importation process to the banks according to the documentary credits system.

6 - Consolidating the financial control apparatus in the Bureau of Financial Control and taking advantage of past and efficient experiences of the staff of this body.

7 - Attention to human resources and the training of professional cadres capable of monitoring and applying laws and tracking of funds and prevent their exit from the Iraqi economy through corruption networks.

8 - Determining the powers in line with the federal system of the state and not be a conflict of interest, but that all projects and investments in accordance with the comprehensive development plan, which is based on the movement of all departments and institutions in the state.

9 - Formation of a higher council of natural resources to preserve those resources and prevent their waste or not to benefit from them in achieving the specific development plans.

10- Establishing a national council for reconstruction that supervises, directs and coordinates the ministries. The Council cooperates with banks, the private sector and foreign countries to attract investments and thus gives it the task of formulating economic policies for Iraq in line with the program of reconstruction and national development.

11 - Training national cadres to enable them not only to benefit the public sector but to enable them to start their own projects that provide the state with more financial resources and do not make Iraqi youth hostage to government appointees Umsetia to pay bribes for jobs.

12. Directing the labor force to work in the private sector by increasing the incentives that the sector receives as tax breaks to enable it to create new jobs and create more productive opportunities.

13 - Achieve the principle of efficiency in the work and the application of strict standards of quality and administrative control and financial performance and achievement in addition to the application of the principle of rewards and incentives or severe penalties for violators.

14 - support productive sectors with high returns that occupy the largest amount of labor, such as industry and agriculture, but according to the principle of partnership or investment.

15 - Return to values and ethics not only through educational curricula, but through the creation of models and good qualities are highlighted and honored.

16 - Develop the capabilities of creativity and innovation of students and use them commercially to create new investment opportunities that increase the confidence of the community and its children to work and production away from fraud and exploitation.

17. To compel the government to implement the development plan agreed upon and to hold it accountable if the percentage of achievement is below the criteria specified in the plan itself.

18. support the media, especially the investigative, and protect journalists so that they can play their oversight role, highlight mistakes or encourage achievements.

19. Encourage the role of civil society organizations in monitoring the performance of governments and bear the criticism directed at these governments.

20. Corruption has lost many opportunities to build Iraq and caused the illiteracy of 7 million Iraqis, so education and investment in human capital must be supported.

In conclusion, the process of fighting corruption will not be in accordance with specific steps, but also through a system of institutions that cooperate with each other inside Iraq and abroad. It is a collective responsibility that all the Iraqi people must cooperate to eliminate because they threaten not only their present but also contribute to the destruction of their future and to obstruct any opportunity for development and success.

Iraq has been very late and its development rates have fallen to low levels, so it is time to eradicate corruption and start each of us from its position.

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IS BAGHDAD BECOMING A NEW HOTSPOT FOR YOUNG ENTREPRENEURS ?

8th July, 2018

With economic malaise, domestic and regional political tensions plus a lack of government jobs, the start-up movement is gaining momentum in the Iraqi capital of Baghdad. 

The conflict-torn country has previously been closed off economically from the rest of the world due to many years of war and significant sanctions. However, more recent boosts in the country’s Internet and smartphone penetration, in addition to the country’s youthful population, have resulted in a riper and more dynamic entrepreneurial ecosystem.

In 2017, nearly 1,300 Facebook pages were established to sell products and services creating more than 5,500 jobs, according to the mobile telecommunications company Zain. With its modern interiors and groups of huddled young techies, The Station has become the first shared space for creative development in Iraq, and it’s already home to about fifteen startups. Mujahed Waisi created the coworking space only four months ago, after he recognized the lack of resources for entrepreneurs in the country devastated by decades of war. He wanted to not merely build a space for innovators but also to rebuild the culture of entrepreneurship in Baghdad.

According to the Iraqi Ministry of Trade, 3,000 SMEs were registered last year. Waisi believes, however, that only a handful got off the ground, partly because a psychological shift is needed to encourage the country’s entrepreneurial spirit. “More than 70 per cent of the ideas of the startups failed after one month or two months,” says Waisi, “There is a culture here in Iraq of pushing the youth into looking for a job in the public sector. So to get a new direction for the people [we need] more innovative individuals.”

Mujahed Waisi, founder of The Station

Online shopping platform Miswag has taken advantage of the situation and has become dubbed the ‘Amazon of Iraq’. Founder and CEO, Ammar Ameen, launched his company in 2014 with a $30,000 investment. Today, his enterprise is worth around two million dollars. “We started dreaming of doing stuff that no one used to dream of before,” says Ameen, who plans to one day expand his business outside of Iraq’s borders.

Ammar Ameen, founder of Miswag, an online shopping platform dubbed the ‘Amazon of Iraq’

Part of his mission is to also enhance entrepreneurship in the country for others. He is creating a space for online vendors to sell products without being burdened with the tedious task of processing orders from customers.

Noor Hashim is one of these online sellers and she launched Hilli, a digital store on Miswag for selling handcrafted products such as jewellery, in 2016.

As a result, she’s been able to expand her business, and in the same way that The Station created a space for Miswag to provide her with an online platform, Hashim is passing on her entrepreneurial know-how by employing vulnerable and widowed women to be part of her full-time staff.

Noor Hashim, creator of digital store Hilli - Hashim is also gaining a reputation for high-quality products and plans to open a stall in Baghdad’s international airport. “We want to show the world the positive side of Iraq through our products,” she says. Her goal is to start exporting Hilli to countries in the Middle East’s Gulf region and the United States before the year comes to an end.

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BofAML: Oil Could Rise to $120 If Iran Exports Discontinue

Oil Could Spike to $120 Without Iran 

 

8th July, 2018


The US is demanding zero purchases of Iranian oil by November, and if that were possible, oil could spike above $120 per barrel, given global crude supplies, says Bank of America Merrill Lynch.

"In our view, a complete cutoff of Iran exports would be very hard to manage and likely result in an oil price spike above $120 a barrel. For now, the uncertainty around US government policy is leading to lower exports and an increase in Iranian oil in floating storage," wrote Francisco Blanch, BofAML head of global commodities and derivatives research, Oil Price reported.

Analysts are skeptical the US can keep even half the Iranian exports of about 2.4 million barrels a day from the market, but some have raised their expectations since US officials began talking up their goal of removing all Iranian exports. They have also warned of potential price spikes if there are any more unexpected production outages in the world.

The US is reimposing sanctions on Iran, after President Donald Trump withdrew from the Iran nuclear agreement in May.

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On 7/7/2018 at 11:23 AM, DinarThug said:

DJ Umbertino Really Knows How To Rock That Bling ! :o 

:D  :D  :D 

 

Even With All That Bling - DJ Umbertino Still Manages To Keep Resurfacing ! :o 

 

Holy Swim - The Bling Man

funny-italy-01.jpg

 

:D  :D  :D 

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Toyota chooses Iraq to launch its new car

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8th July, 2018
The Japanese company Toyota has chosen Iraq to launch its 2019 new car next week, an official news agency reported on Sunday.

"Toyota Japan has chosen Iraq to launch a new type of cars for 2019 within the company's booth at the Baghdad International Fair," the agency said in a news item.

"There are several Japanese projects in the context of the reconstruction of Iraq's infrastructure after achieving security stability," the agency quoted the director general of the Iraqi General Organization for Trade and Trade Services of the Ministry of Commerce Hashim Mohammad Hatem as saying.

Hatem added that "this openness to Japanese companies will provide reassurance and open the doors for the entry of major international companies to the Iraqi market and the launch of the investment process because the Iraqi environment attractive and encouraging to compete these companies."

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The trade balance between Iraq and Iran is falling this year


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8th July, 2018

Iraq's economic crisis and the deterioration of its currency will reduce the trade balance between Iraq and Iran to less than six billion dollars, the Federation of Iraqi Chambers of Commerce said on Sunday

"We expect the trade balance between Iraq and Iran to fall below $ 6 billion because of the economic crisis that Iran is experiencing as a result of the deterioration of its local currency," said Jaafar al-Hamdani, president of the Federation of Chambers of Commerce

"The conditions in Iran will affect trade between Iraq and Iran," Hamdani said, noting that "the trade balance between Iraq and Iran reached 2016 billion dollars in 2017

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Rafidain Bank and KI partnership to provide global services soon

Rafidain Bank and KI partnership to provide global services soon
 
2018/7/8 13:47
 
Kay's media advisor, Ghazi Kanani, confirmed the development of new products as a result of the adoption of new technologies that contribute to increasing the internal efficiency of the work machines between the company and Rafidain Bank and allow customers to provide services in a flexible and simplified way to make people's lives easier.

Al-Kanani told all Iraq [where] that "the continuous pursuit between the cadres of the Rafidain Bank and the company to make the partnership successful resulted in acceptable results in the Iraqi street and touch the wishes of citizens, where continues to provide loans to various segments of society benefiting from electronic payment services through [K]." 

He pointed out that "the specialized teams at both ends of the process Rafidain Bank and [K] continue to study different candidates and choose the best serving the Iraqi family, indicating that the coming period will see the provision of services at a global level to all segments of the beneficiary."  "The new services shorten the time and effort and reach the beneficiary without bother, and this is an advanced step towards global service delivery," Kanani said.

The last period witnessed the launch of Takatof initiative in partnership between Rafidain Bank, [K], the General Post and Savings Company and the General Retirement Authority, in order to deliver electronic services to all regions of Iraq.
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