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An Economist Talks About What Controls The Dollar Exchange Rate In Iraq !


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CNN. Broadcasting Off Of The Dollar Menu From A Baghdad McDonald’s - Super Size Me !
 

 

An economist talks about what controls the dollar exchange rate in Iraq
 

image.thumb.jpeg.3fc426f98211f1cf23e7ff12ade86899.jpeg

 

Economie 7/20/2020 19:41 441    

Baghdad today - Baghdad

 

Economist, Humam Al-Shamaa, on Tuesday (28 July 2020), talked about what controls the dollar exchange rate in Iraq and the effect of internal factors on it.

Al-Shamaa said, in an interview with (Baghdad Today), that "the exchange rate of the dollar in local markets has nothing to do with the exchange rate of the dollar in global markets towards other currencies."

He added, "What controls the dollar exchange rate in global markets are expectations, oil prices, gold prices and a relationship with the euro. As for Iraq, the relationship between the dollar and the dinar is controlled by internal factors related to the demand and supply of the dollar." 

And Al-Shamaa said, "The decrease leads to higher prices, inflation and more problems for the poor classes, because the devaluation of the dinar means an increase in the value of commodities."

The price of gold reached record levels yesterday, with a new drop in the price of the dollar in the global market at a time when investors rushed to buy it as a safe haven, amid concern about the tension between the United States and China and the rise in the number of cases of Covid-19 again around the world and the lack of progress in Washington on a new package To stimulate the economy. 

After months of improvement in stock markets, driven by the trillions of dollars of support from governments and central banks, investors are rethinking the long-term economic implications of the emerging corona virus. 

And at a time when the wide easing measures imposed by the Federal Reserve monetary dollar push the dollar against most of the other currencies, gold rises significantly, reaching a record level of $ 1944.71, which is much higher than the previous record level recorded in 2011 and reached $ 1921.18. 

The focus is on the next meeting of the Federal Reserve to discuss its policies this week, as some expect that more measures will be imposed to boost the economy (probably negative interest rates), which is expected to increase pressure on the dollar and raise the price of the gold ingot to more than two thousand dollars. 

There is also concern that recording worse-than-expected results in US gross domestic product for the second quarter of the year will cause major selling to the dollar, and while the weak dollar has been a major driver of the high price of gold, the matter is also driven by the attractiveness of the metal as a haven in times of turmoil, especially in light of the deterioration The relations between the United States and China day after day.

Gavin Wendt, chief resource analyst at MineLife Consulting, said: “Strong gains cannot be avoided at a time when we are entering a stage similar to the atmosphere that prevailed in the aftermath of the global financial crisis as gold prices rose to record levels as a result of large amounts of Federal Reserve funds being pumped into Financial system, "and the dollar fell again against other currencies, while the euro reached its highest level since September 2018.

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A joint committee to develop a comprehensive reform plan

Wednesday, July 29, 2020

alsabaah-40447.jpg

Baghdad / Shaima Rashid
 

According to the Parliamentary Finance Committee, the government has started work on the reform program that it is supposed to present to Parliament, by forming a committee of the three presidencies and all ministries, to form a council to review the entire economic file.

"The government may not present the 2020 budget due to time constraints, and because it is now occupied with two overlapping main files," Finance Committee member Jamal Kouger said in a statement to Al-Sabah. They are the 2021 budget and the reform program file, ”he added,“ to achieve these two steps; The government is in the process of forming a committee of the three authorities' candidates; The executive and the legislative apparatus with the judiciary, to present their views in the interests of the reform and budget paragraphs.

For its part, the Economic Committee indicated that it submitted a reform paper to the Prime Minister to advance the economic reality, and member of the Economic Committee Ali Ghawi told Al-Sabah: “The committee will have a representative in the governmental committee, and we are waiting for it to provide outputs to address the economic crisis, and the parliament in turn is ready To stand with the government to address these matters ». 

He added, “There are many economic problems that the country suffers from, whether on the electricity or health side,” noting the “worrying” statements of economists about not covering salaries for the next period, and it must be followed up as soon as possible, indicating that “the Economic Committee and during its meeting The Prime Minister presented a reform paper to develop solutions to the economic reality of the country, including reforms in the agricultural and industrial aspects, and the setting of immediate remedies aimed at coordinating with the government and assisting it. 

In turn, member of the Economic Committee, Ali Saadoun Al-Lami, expressed his hope that “this committee will provide quick solutions to the economic situation of the country.” Al-Lami told Al-Sabah: “We lack clear economic policy or plans for economic reality, and we hope that this committee will provide what We aspire to it on the economic side. ”

LINK

 

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Rashid Bank announces the completion of the loading of salaries of employees and retirees


128773.jpg?watermark=4&1

 

Localities 7/20/2020 22:46 828    
Baghdad today - Baghdad 

 

Al-Rasheed Bank announced, on Tuesday, the completion of downloading the salaries of employees and retirees. 

The bank said in a brief statement, that it "has completed loading the salaries of employees of the state departments and retired citizens, their salaries with the bank."

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An Iraqi class awaiting a "government holiday" on the occasion of Eid al-Adha


2020-07-28
 
money.jpg?resize=696%2C364&ssl=1
 

Yassin Iraq: Baghdad

The Minister of Labor, Adel Al-Rikabi, announced today, Tuesday, the launch of a 75,000 dinar holiday for families covered by social benefits.

Al-Rikabi said during a press conference in Baghdad that "the approval of the Council of Ministers has been granted to grant a holiday for those covered by social aid at a value of 75 thousand dinars for each family covered by social aid on the occasion of Eid al-Adha."

He added that the "social assistance database for double salaries and more than 6 thousand beneficiaries of double salaries have been boycotted, their data has been boycotted," adding that "
loans issued by some citizens to relieve their shoulders have been extinguished due to their low salaries."

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The Cabinet Secretariat announces the suspension of official working hours next week


1595933733_download-7.jpeg
 

28th July, 2020
 

The General Secretariat of the Council of Ministers announced the suspension of official working hours in government institutions during the coming week on the occasion of Eid Al-Adha, in conjunction with the rise in temperatures in countries that exceeded the fifty-degree Celsius mark.

The Secretariat of the Council of Ministers said in a statement that "the permanence of the suspension will be in line with the vacation approved by the Supreme Committee for Health and National Safety {Combating the Corona Virus Pandemic], which starts from next Thursday, July 30 and until August 8, 2020."

The Supreme Committee for Health and National Safety decided to impose a comprehensive curfew on the days of Eid Al-Adha, provided that the ban would be reviewed after the Eid holiday, while obliging citizens to follow all preventive measures.

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Al-Rafidayn announces the distribution of the pensioners ’salaries for the month of August

Posted 56 minutes ago
 
image.thumb.jpeg.f19ec4ae68d87e76c06e0b8b28e3a32e.jpeg

 

Rafidain Bank announced today, Wednesday, the distribution of the salaries of retired civilians and military personnel for the month of August......

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############

Al-Rafidayn announces the distribution of the pensioners ’salaries for the month of August

Economie| 08:50 - 7/29/2020

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Edited by DinarThug
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Yo Snap - I Wonder If They Sent They’re Top Canadian Diplomat Davis ! :o 

 

 

And His Diplomatic Thong With A Hooter’s Sash ...

 

:D  :D  :D 

 

 

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Iraq And Canada Sign A Memorandum Of Cooperation For The Securities Commission


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28th July, 2020


The Iraqi Securities Commission announced that it has signed a memorandum of cooperation with the Iraqi Canadian Chamber of Commerce and Industry, with the aim of strengthening cooperation between the two institutions in the areas of technical support services, training program and information exchange.

In a statement he received (Al-Mustaqbalah), the head of the commission, Alaa Abdul Hussein Al-Saadi, said: “This agreement works to facilitate joint cooperation between the authority and the Iraqi Canadian Chamber of Commerce and Industry to intensify work through training programs for Iraqi cadres on best practices in the field of financial markets for Developing financial markets and financial services in particular, in a way that reflects positively on the work environment in the financial markets in Iraq.

Al-Saadi pointed out that “the commission completed the issuance of its report for the second semester of the year 2020 on the movement of trades and financial indicators in the Iraq Stock Exchange, as trading in this chapter was greatly affected by the consequences of the Krone pandemic, which led to reduced trading sessions, and despite that, the volume of trading for this chapter It has exceeded 17 billion dinars for the regular and secondary markets, with a number of shares amounting to about 35 million shares, where the telecommunications and banking sectors led these trades.

It is worth noting that the Securities Commission possesses many future plans and procedures that it intends to take during the coming period, once the Authority’s council is formed and a new law is issued that would increase these trades and increase the attractiveness of financial markets in Iraq in a way that leads to its development or the creation of new financial markets such as a commodity market in Iraq, which will be reflected in the overall Iraqi economy, which possesses many undiscovered constituents and reservoirs that constitute promising investment opportunities in the future. 

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DinarThug     92,657

DinarThug

CNN. Broadcasting Off Of The Dollar Menu From A Baghdad McDonald’s - Super Size Me !

 

▪︎▪︎▪︎▪︎▪︎▪︎▪︎▪︎▪︎▪︎

 

Looks to me you're already "super sized"!!!! 

And what's that old saying, big shoes, big...

                                 nuggets???

Colorful_Vinyl_Clown_Shoes_grande.png.ec3d891b0bdceed968eaa540360e0414.png

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 I would imagine that Iraq is similar to Mexico , where in smaller towns at least there are no addresses or post offices . This may mean that pensioners and salaried folks would receive their payments electronically . 

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7 hours ago, DinarThug said:

A joint committee to develop a comprehensive reform plan

Wednesday, July 29, 2020

alsabaah-40447.jpg

Baghdad / Shaima Rashid
 

According to the Parliamentary Finance Committee, the government has started work on the reform program that it is supposed to present to Parliament, by forming a committee of the three presidencies and all ministries, to form a council to review the entire economic file.

"The government may not present the 2020 budget due to time constraints, and because it is now occupied with two overlapping main files," Finance Committee member Jamal Kouger said in a statement to Al-Sabah. They are the 2021 budget and the reform program file, ”he added,“ to achieve these two steps; The government is in the process of forming a committee of the three authorities' candidates; The executive and the legislative apparatus with the judiciary, to present their views in the interests of the reform and budget paragraphs.

For its part, the Economic Committee indicated that it submitted a reform paper to the Prime Minister to advance the economic reality, and member of the Economic Committee Ali Ghawi told Al-Sabah: “The committee will have a representative in the governmental committee, and we are waiting for it to provide outputs to address the economic crisis, and the parliament in turn is ready To stand with the government to address these matters ». 

He added, “There are many economic problems that the country suffers from, whether on the electricity or health side,” noting the “worrying” statements of economists about not covering salaries for the next period, and it must be followed up as soon as possible, indicating that “the Economic Committee and during its meeting The Prime Minister presented a reform paper to develop solutions to the economic reality of the country, including reforms in the agricultural and industrial aspects, and the setting of immediate remedies aimed at coordinating with the government and assisting it. 

In turn, member of the Economic Committee, Ali Saadoun Al-Lami, expressed his hope that “this committee will provide quick solutions to the economic situation of the country.” Al-Lami told Al-Sabah: “We lack clear economic policy or plans for economic reality, and we hope that this committee will provide what We aspire to it on the economic side. ”

LINK

 

Great,  another committee :facepalm:

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The Minister of Labor announces the launch of the meal (28) of soft loans

2020-07-29 | 11:01
The Minister of Labor announces the launch of the meal (28) of soft loans
 
 
 

On Wednesday, Minister of Labor Adel al-Rikabi announced the launch of the meal (28) of soft loans.

Al-Rikabi said in an interview reported by the Iraqi News Agency, that "the 28th meal of soft loans has been launched for (5) thousand job seekers."
 
The Ministry of Labor announces the launch of soft loans to job seekers in a period from time to time Baghdad And provinces.
 
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Financial Expert: Advanced Technology Is Necessary To Develop The Banking System


%D9%88%D9%87%D8%A8%D9%8A-%D8%A7%D9%84%D8

On 

July 29, 2020
 

(Independent) .. An expert in the financial affairs, Wehbe Al-Khaffaf, stressed the importance of advanced systems in raising the efficiency of the banking system and enabling it to deal with the large numbers required by the Iraqi economy’s driver during the coming period.

Al-Khaffaf said that adopting advanced technology and following up on the latest developments in the global financial sector is necessary to enhance financial products with the new that suits the reality of the family’s situation.

He pointed out that Iraq has a good banking system and is expanding in an organized manner and under the supervision of the Central Bank of Iraq, which directs banks in a direction that serves the sustainable development process required by the development stage.

He pointed out that many banks are continuously looking to enhance their technological capabilities, including the International Islamic Trust Bank, which adopts a plan to develop its systems and what suits global developments and directives of the Central.

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Member of it: Parliamentary finance will start preparing the budget of 2021 soon

128804.jpg?watermark=4

 

Policy 7/20/2020 12:55 345 Editor: am    
Baghdad today - Baghdad 

 

Member of the Parliamentary Finance Committee, Faisal Al-Issawi, confirmed today, Wednesday (July 29, 2020), that his committee will start preparing the draft of the general federal budget law for the country for the year 2021, indicating that the government has not sent a draft budget for 2020 until now.

Al-Issawi said in an interview with (Baghdad Today), "The Finance Committee and the House of Representatives committed themselves to passing the draft budget bill 2020 in the event it was sent by the government at the date decided by the House of Representatives on June 30," explaining that "the government has not sent the project yet, And time does not help us now to discuss and pass this year's budget. " 

He added, "The Parliamentary Finance Committee will start preparing a draft of the country's general federal budget bill for the year 2021," stressing that "not passing a budget in any year confuses the work of ministries and state institutions."

The delay in approving the budget for the current year has caused many financial and economic problems, especially with the country's economic and health conditions caused by the Corona virus pandemic. 

The Iraqi Ministry of Trade had revealed, on Friday (July 17, 2020), that the ration card items that were to be distributed to citizens were affected. 

The official agency quoted the ministry as saying that "the ration card items were affected by the delay in approving the general budget for 2020." 

She added, "The money disbursement mechanism does not allow the ministry to fulfill its obligations related to contracting with national facilities," noting that "after the approval of the general budget, the ministry aspires to start contracts with national facilities."

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Parliamentary Planning: The 2021 Budget will see some economic changes

%D8%B1%D9%88%D8%A7%D8%AA%D8%A8-696x438.j
 
 
13:20 - 7/29/2020

The Parliamentary Planning and Follow-up Committee affirmed on Wednesday that no fundamental changes occurred in the budget of 2021 to develop the non-oil production sector, indicating that the government has so far been unable to improve the industrial sector.

"What will happen in the next budget is adding some money to the budget by increasing revenue for ports and border ports and taxes, but it will not change much of the reality of dependence on the oil sector," committee member Mohammed Al-Baldawi said in a statement to "Information".

Al-Baldawi added, “The smuggling of goods through the ports contributed to delaying the progress of the agricultural sector significantly and relying on it to increase the local production.”

He added, “The deficit in the budget will be great because of the dependence on oil and its low global prices as well as reducing share to of Iraq in sales amid deficit The government is improving the industrial sector and is the most important in Iraq to reduce dependence on oil. ”
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10 hours ago, hawk-eye-view said:

Looks to me you're already "super sized"!!!! 

And what's that old saying, big shoes, big...

                                 nuggets???


Those ‘McNuggets’ Are What Got Me In Trouble The Last Time ! :o 

image.jpeg.40057fa176cc30ad88a3d91eeba61d64.jpeg
:D  :D  :D 

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11 hours ago, hawk-eye-view said:

DinarThug     92,657

DinarThug

CNN. Broadcasting Off Of The Dollar Menu From A Baghdad McDonald’s - Super Size Me !

 

▪︎▪︎▪︎▪︎▪︎▪︎▪︎▪︎▪︎▪︎

 

Looks to me you're already "super sized"!!!! 

And what's that old saying, big shoes, big...

                                 nuggets???

Colorful_Vinyl_Clown_Shoes_grande.png.ec3d891b0bdceed968eaa540360e0414.png

Ah come on now thugs,  get shoes that fit you and stop trying to trick the ladies 

Thanks for the articles 

 

Edited by Shelley
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Parliamentary Finance: The salaries of employees are insured according to the Borrowing Law

%D8%B1%D9%88%D8%A7%D8%AA%D8%A8-696x437.j
 
 
08:50 - 07/30/2020

Parliamentary Finance Committee indicated that the salaries of employees are secured after Parliament voted on the borrowing law, pointing out that the government will not present any budget for the current year as it will suffer from a deficit of up to 60 percent.

Committee member Jamal Ahmed told Al-Maalouma that the government has borrowing orders after the parliament voted to do so, and it can provide employees salaries without delay after what happened in the salaries of last June. He added that "the salaries of employees need $ 5 billion a month, while the current oil prices cannot provide these amounts, which is what called for parliament to pass the borrowing law."

Cougar ruled out that the government will present the budget for the current year, especially that it will suffer from a deficit of up to 60%," noting that "the government is currently busy with the budget of 2021."
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Dollar exchange rates fall in Iraqi markets

 

1596094936595.jpg
Economy

 2020-07-30 02:43
  
Shafq News/ The exchange rate of the dollar fell in the Iraqi markets on Thursday (July 30, 2020).

According to a reporter for The Twilight News agency, the fight stock exchange recorded 123,650 dinars against 100 US dollars.

Al-Harithia exchange recorded 123,700 dinars against 100 US dollars, the reporter said.

On Wednesday, The Struggle Exchange registered 123,900 dinars against 100 US dollars.

Selling prices in local market banking stores:

Selling price 124,000 JD

Purchase price: JD 123,000

 

https://shafaaq.com/ar/اقتصـاد/نخفاض-باسعار-صرف-الدولار-في-الاسواق-العراقية

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List the dollar exchange rates, currencies, oil and minerals

2020.07.30 - 10:42

Baghdad - people  

On Thursday, economists published a list of dollar exchange rates against foreign currencies, as well as oil and minerals prices.  

Exchange offices' prices:  

Selling price of the dollar: 124,250  

The purchase price of the dollar: 123,250  

  

Foreign international currencies:  

EUR World price: 100 euros = 117,55 dollars  

Sterling world price: 100 pounds = 129.51 dollars  

Turkish Lira World Price: $ 100 = 697,80 Turkish Lira  

  

Minerals:  

The price of an ounce of gold globally = $ 1955.30  

  

The oil  

The price of a barrel of Brent crude oil = $ 43.30  

The price of a barrel of US crude oil = $ 40.90  

 

https://www.nasnews.com/view.php?cat=36644

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Thirty years since Iraqs invasion of Kuwait: "We forgive ... and do not forget."

image.thumb.jpeg.6973a8983b19561c021df85749f03680.jpeg
 

30th June, 2020

Thirty years ago, Saddam Hussein invaded the neighboring state of Kuwait and declared it "the 19th governorate" for Iraq. Today, his opponents, who are in power, have restored relations with the strategic neighbor, but the wounds of the second Gulf War remain for Kuwaitis and Iraqis.

From Baghdad to Basra, and from Kirkuk to Babylon, Iraqis agree that the invasion that began on August 2, 1990 and the occupation of Kuwait that ended on March 6, 1991 with the intervention of an international coalition led by Washington "was the beginning of the end."

Umm Sarah, a retired school from Baghdad, says that "since the invasion of Kuwait, we have seen neither stability nor security," as the list goes on starting from the blockade, through the American invasion, civil war and sectarian violence, until the Islamic State invaded the country.

It all started four days after the Iraqi forces entered Kuwait. At the time, the United Nations declared a blockade, from which Iraqis did not escape until after the Americans invaded the country in 2003 and toppled Saddam Hussein's regime.

And the Iraqi dinar, which was once worth three dollars, was divided into nine thousand.

Jassim Muhammad, a teacher in the city of Kut, south of Baghdad, was equal to "the price of a chicken in the market". Therefore, on some days, "we ate everything in the siege, so that the animal feed we turned into food," according to Yasser al-Saffar, 44, who was a witness to the years of the siege.

War ... live.

"The siege is not the ethics of society, and it was the first step to creating financial and administrative corruption in the country," which Muhammad ranks today in the list of the most corrupt countries in the world.

Hisham Mohamed lived through the low class level of his father, who was one of the major importers of construction equipment.

Muhammad al-Baghdadi, fiftieth, says, "After entering Iraq in a severe siege, the currency collapsed, and the importation stopped completely, my father lost his business and all the money he had in cash, approximately one hundred thousand dinars, which was equivalent to three million dollars, and suddenly became worthless."

Other classes of society flourished at the time, namely the "find in existence" or "manage yourself" layer, and they were those who knew how to renew a perforated tire, or convert turbines without spare parts, and who reused the gas lamps with no electricity, or used worn clothes For hundreds of times. As for the army, it lost everything, and in full view of the cameras of the whole world that was accompanying the "Desert Storm", the first of the wars transmitted directly on the air.

Sarmad Al-Bayati, who was an officer in that era, saw soldiers returning to Iraq on foot! Upon their return, "they were engaged in small businesses while on vacation to make ends meet."

As Iraq plunged into recession, Kuwait prospered. But many families still inherit their dead and missing, and former prisoners still talk of torture. Also, last summer, bodies found in mass graves in southern Iraq were returned to Kuwait.

The Ahmed Qabazard family, one of the faces of the "Kuwaiti resistance" who was tortured and executed, turned the house, which was partially destroyed by the Iraqis, into a small museum of the horrors of the occupation.

Despite rebuilding the house today, his seven-year-old daughter, Shurooq, said at the time: "I cannot say that I am reconciled with myself in my feelings with the Iraqi people, but this is not their fault. We discovered after years that the Iraqis were suffering from repression and suffered from the tyrant Saddam. Hussain".

Ghaida Al-Amir also felt "joy" when the fall of Saddam Hussein's regime in 2003. 20 years ago that day, her sister was hanged "by an electric cord after the Iraqi forces took her (...) because of her joining the Kuwaiti resistance."

- Debt outstanding -

Kuwait recorded all the destruction, killings, torture, and imprisonment, determined its losses, and the United Nations submitted the bill to Iraq.

During thirty years, Baghdad paid 51 billion dollars, and Iraq, which is experiencing the worst economic crisis in its history today, remains in debt of about four billion dollars.

It took 20 years to repair relations between the two countries. The United Nations did not lift the sanctions imposed in 1990 until 2010, that is, seven years after the fall of Saddam Hussein. Nevertheless, border disputes remain, as Iraq recognizes the land borders established by the United Nations in 1993, but considers that its maritime borders prevent it from reaching the Gulf, which is vital for its economy. Therefore, the Kuwaiti Navy regularly arrests Iraqi fishermen.

As for the missing, they are still in the thousands on both sides. According to the International Committee of the Red Cross, only 215 Kuwaitis and 85 Iraqis have been returned.

But in the bigger picture, relations between the two countries improved dramatically. In 2018, Kuwait hosted a donors' conference to rebuild Iraq, and was the first to contribute $ 2 billion. But Shorook Qabazard notes that "I cannot forget the invasion." "The invasion is the most important stage for my generation (...) We can tolerate and reconcile, but we cannot forget what happened," she added.

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20 hours ago, DinarThug said:


:o 

 

image.jpeg.f789b36b09e11aa13c54c1988da3fbdb.jpeg

 

:D  :D  :D 

 

 

Wuzzup Shelly ? ;) 

 

:lmao:  :lmao: 

Same as everyone else that are living In HOTSPOTS ... South Florida numbers up up up !!!! Hopefully we kick this virus in the Arse soon and get back to a little more normalcy .

can you believe after all these years we’re still reading this Arabish BS ... LOL

Hope all is well with you and yours 

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Today's Forecast for Scottsdale, AZ 
 

1 hour ago, Shelley said:

Hope all is well with you and yours


Thanks Shelley - All’s Good Other Than The ‘Excessive Heat Warning’ Here In The Phoenix Area ! :o 
 

 

I’ve Still Been Getting Out And Doing Plenty Of Mountain Biking This Week Though ! :blink: 

 


Although, In The Words Of Forrest Gump - “ I’m Not A Smart Man “ ! :shakehead: 

 

 

And Even The Rattlesnakes Have Enough Sense Not To Come Out When It’s This Hot ... 

 

 

So At Least I Don’t Have Worry About ‘Running’ Into Any ... 

 

:D  :D  :D 
 

Edited by DinarThug
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