Bondlady’s Corner – Iraq Economic News and Points to Ponder Friday Afternoon 9-29-23


Iraq Economic News and Points to Ponder Friday Afternoon 9-29-23

Tlm724 Administrator Bondlady’s Corner

Life Imprisonment For The Official Of The Strong Cash Register In The Real Estate Bank In Diwaniyah

Iraq   Friday, September 29, 2023 Baghdad/National News Center

The Federal Integrity Commission announced today, Friday, the issuance of a judgment in the presence of a court ruling ordering life imprisonment against the official of the strong cash register at the Real Estate Bank – Diwaniyah Branch. Against the backdrop of the embezzlement of approximately two billion dinars from the bank.

Integrity stated in a statement received by the National News Centre, that “the Commission’s Investigations Department, while talking about the details of the case that it investigated and referred to the judiciary, reported that the Diwaniyah Criminal Court issued its decision to sentence in the presence of the official of the fortified court in the Real Estate Bank – Diwaniyah Branch.” …to life imprisonment, following the embezzlement of (1,800,000,000) dinars from the bank.”

Al-Nazaha stated that “the background of the ruling in the case goes back to the embezzlement of the amount from the bank, and the issuance of an arrest warrant against its officials,” noting that “the authority was able last January to implement the arrest warrant issued against the director of the Real Estate Bank in Diwaniyah, his assistant, and the official of the fortified court in it.” And present them before the judicial authorities.”

She added, “The court, after reviewing the evidence and evidence obtained in the case, reached complete conviction of the accused’s negligence, so it decided to convict him and sentence him in his presence to life imprisonment.” Based on the requirements of Article (315/Part Two) of the Penal Code.”

Al-Nazaha continued, “The ruling also included obligating the convict to pay an amount of one billion and eight hundred million Iraqi dinars to the Real Estate Bank, based on the provisions of Article (321) of the Penal Code,” noting that “this amount represents the total funds embezzled from the bank.”

Oil Prices Are Heading For Weekly Gains

Friday 29, September 2023 | Economical Number of readings: 271  Baghdad / NINA / Oil prices are heading to record a weekly gain of about two percent after achieving slight gains in early trading on Friday, as strong demand during a holiday in China and continued scarcity in the United States overshadowed the impact of expectations of possible increases in supplies from Saudi Arabia.

Brent crude futures for November, which expire today, rose five cents to $95.43 a barrel.

Brent crude futures for December rose 13 cents to record $93.23 a barrel by dawn on Friday.

US West Texas Intermediate crude rose 16 cents to $91.87 a barrel.

Oil prices fell by about one percent yesterday, Thursday, as traders resorted to selling to take profits after prices rose to their highest levels in ten months, and some were concerned that rising interest rates might affect demand for oil.

Both crude oils are heading to record weekly gains of about 2 percent.

“The OPEC meeting next week (October 4) will be an important indicator for the market with the increasing possibility of a reduction in voluntary supply cuts by Aramco,” National Australia Bank said in a note.

The market is currently witnessing scarcity in light of reductions amounting to a total of 1.3 million barrels per day until the end of the year by Saudi Arabia and Russia, which are members of the OPEC+ alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies.

Russia recently eased a separate ban it imposed on fuel exports to stabilize the domestic market, and analysts do not expect the restrictions to last for long as they could affect the operation of refineries and affect relationships with customers.

JP Morgan said in a note that Turkey, Brazil, Morocco, Tunisia and Saudi Arabia are among the main destinations for Russian diesel this year.

He added, “Extending the export ban will negatively affect the relationship with new customers that Russian oil companies have painstakingly built over the past year and a half.”

The Kremlin said that Russia had not discussed a possible increase in crude oil supplies to compensate for Moscow’s ban on fuel exports with the OPEC+ group.

The recent macroeconomic data, in addition to the Golden Week holiday in China, which began on Friday and continues for a week, was supportive of global demand for oil./End 9

The President Of The Republic Arrives In Al-Hamdaniya District In Nineveh

Friday 29, September 2023 10:57 | Political Number of readings: 399  Baghdad / NINA / The President of the Republic, Abdul Latif Jamal Rashid, arrived this morning in the Al-Hamdaniya district in Nineveh.

To read more current and reliable Iraqi news please visit BondLady’s Corner:


Points to Ponder From “Daily Reflections For Highly Effective People” By Stephen Covey

Our character – basically – is a composite of our habits —  Because they are consistent – often unconscious patterns – they consistently – daily – express our character and produce our effectiveness ……………. or ineffectiveness — p. 46

It becomes obvious that if we want to make relatively minor changes in our  lives — we can perhaps appropriately focus on our attitudes and behaviors — But if we want  to make  significant — quantum change – we need  to work on our basic paradigms — p. 31

Change — REAL CHANGE — comes from the inside out — It doesn’t come from hacking at the leaves of attitude and behavior with quick fix personality ethic techniques — it comes from striking at the root — the fabric of our thought – the fundamental – essential paradigms – which give definition to our character and create the  lens through which we see the world — p. 317

You can decide within yourself how circumstances will affect you — Between what happens to you or the stimulus – and your response to it — is your FREEDOM or POWER to CHOOSE that response — p. 69

The word proactive means more than merely taking initiative — It means that as human beings – we are responsible for our own lives — Our behavior is a function of our decisions – not our conditions — We can subordinate feelings to values — We have the initiative and the responsibility to make things happen — p. 71

If you’re proactive — you don’t have to wait for circumstances or other people to create perspective expanding experiences — You can consciously create your own — p. 131