KFTA – More News, Rumors and Opinions Wednesday Afternoon 1-10-2024

0
31

Clare:  Al-Sudani opens the 47th session of the Baghdad Fair and announces new trade procedures

1/10/2024

Prime Minister Muhammad Shiaa Al-Sudani opened, on Wednesday, the 47th Baghdad International Fair with wide international participation.

 Al-Sudani said during the opening of the Baghdad International Fair activities, “I welcome brothers, friends, companies and businessmen to peace in Baghdad.”

He pointed out that “the Baghdad Exhibition represents one of the aspects of the relationship between Iraq and friendly countries,” explaining that “for the first time, the Ministry of Commerce sets the commodity structure for imports and exports.”

The Prime Minister continued, “We cannot create development without reforming the banking and financial sector,” adding, “We came out with a package of measures that contribute to tax reform.”

He added, “Today was a special day, as in the morning we laid the foundation stone for the construction of a bridge on the Tigris River. He said, “The process of development and work for a strong, stable and prosperous Iraq has begun.”

850 different companies from 20 countries are participating in the exhibition, according to what Ministry of Commerce spokesman Muhammad Hanoun told Shafaq News Agency.

Hanoun added, “The Kingdom of Saudi Arabia is the official sponsor of the conference, as 140 companies will participate.”

He stated that “8 Arab countries and 12 foreign countries will participate in the exhibition, namely Saudi Arabia, the Emirates, Jordan, Egypt, Syria, Oman, and Palestine, while foreign countries will include Spain, India, Pakistan, Indonesia, Thailand, Algiers, Azerbaijan, the Philippines, and others.”

Hanoun pointed out that “the exhibition will last for 10 days, starting today and ending on the 19th of this month,” stressing, “We seek through this exhibition to establish real partnerships between the Iraqi and international private sectors.”   LINK

 ***********

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26   What have the articles been telling usThat the Iraqi dinar and the American dollar are divorcing by mechanisms…It’s causing the American dollar to go down…just in one week 150 to 140 to… 135.  The value of the Iraqi dinar is going up as the American dollar inside of Iraq is being put away…it’s not in the picture anymore.  

Mnt Goat   Article:  “SUDANESE ADVISOR: EXCHANGE RATES WILL REACH 135 THOUSAND PER 100 DOLLARS SOON”  If this really does happen we will be in great shape to see the one more program rate change we have been waiting for. But remember they will probably wait and monitor the rate to ensure it is first stable, How long we don’t know.  But this is fantastic news today.

************

TNT:

Tishwash:  Source: Al-Sudani travels to Switzerland for the Economic Forum and to meet with Blinken

 An informed source revealed, today, Wednesday, that Iraqi Prime Minister Muhammad Shiaa Al-Sudani intends to travel to Switzerland, next week, to attend the annual meeting of the World Economic Forum 2024, which will be held in the Swiss city of Davos-Klosters, from January 15 to 19. The second one is ongoing.

The source added to Al-Mustaqila that Al-Sudani will be accompanied by a high-level delegation of ministers and the governor of the Central Bank, with the aim of holding meetings with Swiss banks and discussing ways to enhance economic cooperation between the two countries.

Al-Sudani will also meet US Secretary of State, Anthony Blinken, to discuss bilateral relations between Iraq and the United States, and regional issues.

The annual meeting of the World Economic Forum is considered one of the most important global economic events, in which the most prominent world leaders, businessmen and policy makers participate, to discuss the most important global economic, political and security issues.

Al-Sudani’s visit to Switzerland comes within the framework of Iraq’s efforts to strengthen economic and political relations with countries around the world and attract foreign investments.   link

2024 BANKS IN TROUBLE: Sharp Surge In Bad Loans Reported By Largest US Banks

Lena Petrova:  1-10-2024

https://youtube.com/watch?v=HckiPL01I2w%3Ffeature%3Doembed%26enablejsapi%3D1

Stocks Will Still Crash 50% In This Economy, Here’s Why | Todd Horwitz

David Lin:  1-10-2024

Todd Horwitz, chief market strategist of Bubba Trading.com, gives his outlook for the economy, stocks, and commodities for 2024.

0:00 – Intro

1:30 – Market performance

5:00 – Fed pivot

7:20 – Market correction

8:55 – Commodities

 12:10 – Inflation

 14:40 – Economy’s problems

 15:50 – Oil

18:30 – DXY

19:22 – Labor market

21:38 – Geopolitical risks

https://youtube.com/watch?v=1zYjvgbJkto%3Ffeature%3Doembed%26enablejsapi%3D1