Wednesday, March 8, 2017

Word on the Street Wednesday 3/8/17

Word on the Street Wednesday 3/8/17





Word on the Street Wednesday 3/8/17:
Forex Rates:
SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1,152.6000  1,209.4000 1,152.6000 1,148.0000 1,148.0000  4.6000 07:10
 USD/VND  22,422.0000  23,179.0000 22,795.0000 22,422.0000 22,434.0000  -12.0000 07:10
 USD/CNY  6.9095  6.9108 6.9106 6.8902 6.9018  0.0077 07:10
 USD/KWD  0.3052  0.3062 0.3053 0.3051 0.3051  0.0002 02:36
 GBP/USD  1.2158  1.2159 1.2213 1.2140 1.2209  -0.0050 07:10
 USD/IRR  12,048.0000  12,428.0000 12,048.0000 12,048.0000 12,048.0000  0.0000 17:51
 USD/IDR  13,370.5000  13,378.0000 13,378.5000 13,320.0000 13,340.0000  30.5000 07:10
CNBC Morning Squawk Link: No link yet.
DC NY Iraq Articles:

Deputy Kurdish demands infallible as the "immediate intervention" to pay the dues of farmers

It demanded an MP for the Kurdistan Democratic Party Ashwaq dry, Tuesday, President Fuad Masum , to immediately intervene to put pressure on Prime Minister Haider al - Abadi to complete dues peasants of the region of Kurdistan as a protector of the Iraqi constitution.
She said dry in a statement received / information /, copy it, that " the federal government has decided to exchange 77% of the amounts for farmers in the provinces of central and southern Iraq in 2016 while the exchange rate of 17% allocated to the peasants of the region amounts which equates to only 46% of the debt at the federal government, this is a violation of the Iraqi Constitution , which provided for: that all Iraqis are equal rights and have the same duties, and therefore the President of the Republic demands for immediate intervention to redress farmers who penalized the right and connects political problems do not relate to them except that they are citizens of the region. "
"We demanded the President of the National Alliance to intervene to redress the peasants , but we did not find a sympathetic ear and demanded the prime minister did not respond to us, and here we do not find , but the call on the President to intervene and to exercise legal duty to protect the Constitution and to stop the violation of the rights for political reasons."
And it showed dry, "We Kmmthelon for the citizens of the province in the Federal House of Representatives will not be silent about the violation and the unfairness of our citizens rights for political reasons , nothing to do with them, despite the fact that farmers in the province have completed the scrutiny of the Federal Office of financial supervision , but the amounts that were paid to them is only 17% which is equivalent to 46% of the outstanding debt for the year 2016, while the exchange rate was 77% for the central and southern governorates. " Finished / 2

Court of Customs: supplement the state treasury 1.5 billion dinars during the year in fines and compensation

History of edits:: 2017/3/8 11:30 • 100 visits readable
{Baghdad} Euphrates News Central Court satisfied the customs sums amounting to more than one billion dinars during the last year by fining violators of civil and compensation for the management of customs.
He said customs Court for the Central District Judge Starr and Rohr in a statement to inform the judiciary and the Euphrates News Agency {} received a copy of it, "obtained the court in 2016 about one billion and a half billion dinars."
He and the Ruhr, that "these funds represent revenues obtained from the fines imposed on the offenders to the instructions of the Customs Act and the amounts of compensation for the Civil Administration of Customs."
The customs Court for the Central District would consider in eight provinces; Baghdad claims, Babil, Karbala, Najaf, Diwaniyah, Wasit, Diyala, and Salah Din.anthy

Kurdish leader: the agreement with the Iraqi government on the continued pumping of Kirkuk crude to Turkey

08/03/2017
(Independent) ... announced the leader of the Patriotic Union of Kurdistan Rasool, Wednesday, that the Kurdish group, which controls the oil fields in Kirkuk, Iraq reached an agreement with the Iraqi government for the continued pumping of crude from the region by pipeline extends to the Turkish Mediterranean port of export .
Rasul said in a statement to "Reuters", reached the agreement, on Tuesday, between the Patriotic Union of Kurdistan and Prime Minister Haider al-Abadi.
He said the messenger, who served as Deputy Secretary General of the Patriotic Union of Kurdistan, "the agreement ended the problem is no longer there a deadline for the closure of the pipeline," He gave no further details.
The Patriotic Union of Kurdistan forces seized control of the oil installations in Kirkuk last week and stopped pumping oil briefly and threatened further action unless they are responding to the demand to allocate a share of the revenue. (End)
Oil Minister Ali Jabbar Luaibi said that Iraq has made a commitment to 85 percent to OPEC's agreement to cut crude oil supply by 210 thousand barrels per day.

He Allaibi on Tuesday on the sidelines of an energy conference in Houston in session that 'our production increases, but our exports at the level of OPEC's agreement'.

The Allaibi said at the same conference on Monday that 'it was premature to say whether it should extend to OPEC production cuts' noting that Baghdad 'is ready to participate if the organization decided to extend the restrictions to supply the second half of the year.'

The Minister of Oil, Iraq is ready to reduce its production of crude again if OPEC decided 'indicating' too early to talk about any changes, it will depend on oil prices and stabilize the market, if OPEC decided cuts, Iraq will be reduced. '

Court of Customs: supplement the state treasury 1.5 billion dinars during the year in fines and compensation

History of edits:: 2017/3/8 11:30 • 81 visits readable
{Baghdad} Euphrates News Central Court satisfied the customs sums amounting to more than one billion dinars during the last year by fining violators of civil and compensation for the management of customs.
He said customs Court for the Central District Judge Starr and Rohr in a statement to inform the judiciary and the Euphrates News Agency {} received a copy of it, "obtained the court in 2016 about one billion and a half billion dinars."
He and the Ruhr, that "these funds represent revenues obtained from the fines imposed on the offenders to the instructions of the Customs Act and the amounts of compensation for the Civil Administration of Customs."
The customs Court for the Central District would consider in eight provinces; Baghdad claims, Babil, Karbala, Najaf, Diwaniyah, Wasit, Diyala, and Salah Din.anthy
History of edits:: 2017/3/7 12:37 • 71 visits readable
{Baghdad: Euphrates News} visiting Minister of Foreign Affairs of Tunisia Khamis Alaghinawa, to the capital of Baghdad, on Wednesday.
The spokesman for the Iraqi Ministry of Planning, Abdul Zahra al-Hindawi, said in a statement the agency {Euphrates News}, a copy of which received the "Minister of Planning {Minister of Trade and agency}, Salman al-Jumaili meets on Wednesday, at the headquarters of the Ministry, the minister Alaghinawa and his accompanying delegation to discuss a number of issues and public issues between the two countries. "
Hindawi said, "The meeting is one of the important meetings and Saakbouk hold a joint press conference between the two ministers," calling on the media to "attend the conference."
The Tunisian Foreign Minister Khamis Alaghinawa met last Wednesday, Foreign Minister Ibrahim al-Jaafari on the sidelines of meetings of the Human Rights Council in the Swiss city of Geneva, and expressed his desire to visit the capital Baghdad with the imminent opening of the air route between the two countries. 
It would Alaghinawa, the first foreign minister of Tunisia Eif Baghdad after 2003.anth

 

Chiefs of staff of Russia, Turkey and the United States meet to discuss the situation in Iraq and Syria


According to the Russian Defense Ministry, on Tuesday, that the chief of the Russian General Staff Valery Gerasimov will discuss today with the Turkish counterparts hallucinatory Acar and American Joseph Dunford security issues in Syria and Iraq.
According to a statement issued by the ministry that "Gerasimov and Chief of General Staff of Turkish Armed Forces hallucinatory Acar (the host) and Chairman of the Joint Chiefs of Staff Gen. Joseph Dunford will take part in a trilateral meeting in Antalya (Turkey)."
According to the statement , it is "planned that the meeting deals with issues of security in Syria and Iraq." Finished / 2

Arab foreign ministers were discussing the Turkish military presence in Iraq


Tuesday began the session 147 of the Arab League Council at the level of Foreign Ministers, at the General Secretariat of the League, headed by Minister of Maghreb Affairs, the African Union and the Arab League , Abdelkader Messahel and the presence of the Secretary General of the Arab League , Ahmed Aboul Gheit.
During the meeting Minister discusses a number of items dealing with the issues of Palestine and the Arab - Israeli conflict and the Israeli violations in the occupied city of Jerusalem and to address the transfer of diplomatic missions to Jerusalem and to support the Palestinian Authority 's budget and the steadfastness of the Palestinian people.
Items also include Arab water security issues and the theft of Israel and the Arab water and the developments of the situation in Syria, Libya, Yemen, Iraq and the continued military presence in Iraq.
This is followed by the opening meeting of the session closed the first working session during which the draft agenda report submitted by the permanent delegates to adopt and discuss the items listed in it and the adoption of the resolutions submitted by the Council at the level of permanent representatives and decide on the decisions and issues that have been agreed on the adjournment of the Council at the level of foreign ministers of the permanent delegates.
It will also be a second closed session was held to complete the discussion of items followed by a public hearing and a final press conference the Secretary-General of the university and chairman of the University Council at the ministerial level. Finished / 25

Minister of the Interior for "information": international companies sober ready to develop our security


Interior Minister Qassim al - Araji, Tuesday, ready solid international companies specialized in the field of communications and industry missiles and tanks to develop Iraqi security forces, noting that the government is determined to take advantage of all the international experiences in the development of these devices.
He said in a statement / information /, said that "international companies sober specializing in the field of communications, missiles, tanks and ammunition ready to develop our security services , " pointing out that " the Iraqi government is determined to take advantage of all the international experiences in developing the performance of our forces."
Araji said, that " the defense industry exhibition , which was held yesterday at the Baghdad International Exhibition goal the development of military expertise in the field of combating terrorism."
He continued that " the exhibition , which contributed inaugurated 31 countries and 21 solid company, evidence of the victories achieved by our security forces to extend security and stability." Finished / 25

Masum to the Minister of Foreign Affairs of Tunisia: the presence of the terrorists in Iraq is nearing its end

History of edits:: 2017/3/8 14:11 • 39 visits readable
{Baghdad: Euphrates News} President Fuad Masum, stressed the importance of strengthening joint work between Iraq and Tunisia in various fields, especially the development of the intelligence and security cooperation between Iraq and Tunisia, and the follow-up sleeper terrorist cells, as well as working to fight the terrorist act on the educational, intellectual and economic levels.
According to a presidential statement, the agency {Euphrates News} received a copy of it today, "said Masum received at the Peace Palace in Baghdad today, Tunisian Foreign Minister Khamis Alaghinawa and his accompanying delegation, and pointed to the presence of many participants between the parties could be reinvested in favor of activating bilateral cooperation between the two brotherly countries, especially at a time when countries and other countries of the region to suffer the scourge of terrorism. "
The infallible according to the statement that "the presence of the terrorists in Iraq is nearing its end after the great victories achieved by the Iraqis in their war against terrorism is crucial."
"The President of the Republic received in the beginning of the meeting the greetings of President of Tunisia Beji Caid Essebsi, the design of Tunisia to strengthen cooperation frameworks and enhance the strong bilateral relations between the two brotherly countries."
Alaghinawa the minister pointed out, "Tunisia is ready to complete the development of communication and coordination between the two countries in the political, security, tourist and cultural fields."
The minister praised the important victories achieved by Iraq in its war against terrorism on behalf of everyone, also reviewed the situation of Tunisia in various fields especially economic, and terrorist challenges experienced by Tunisia.
The statement noted that "the President of the Republic of Tunisia carry foreign minister his greetings to President Alseibesa and wishes of the Tunisian people steadily progress and strengthen the democratic experiment in the brotherly country" .anthy
 
Kauaihn Economic Times:
ECONOMIC TIMES / CHATTER

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GLOBAL/ NEWS/ INFO

Bitcoin plunges sharply and suddenly
Business Insider
A Bitcoin sign is seen in a window in Toronto. Bitcoin plunged more than $100 in a matter of minutes of Tuesday morning. The cryptocurrency was down about 1.5% at $1260 a coin just after 6 a.m. ET before tumbling below $1160 over the course of 30 minutes. As of 7:12 a.m. ETit's down 5%, or $62, near $1,218 a coin. While no headlines can be directly tied to the plunge, about two hours earlier, a Bloomberg headline cited a People's Bank of China official who suggested the recent bitcoin Read the full story
OIL/COMMODITIES / ENERGY
Correlation between USD and commodities is now gone: Citi
CNBC


It's a given in the market that there's an inverse relationship between dollar strength and the price of commodities, but Citi Research argues that correlation is now gone. Read the full story


Surprise oil price cut shows Saudis foiling sweet US flood

Energy Voice
The oil is light, sweet and tempting, with a lot of it made in the U.S. Saudi Arabia’s trying to keep it away from the biggest crude buyers. The Middle East producer cut the pricing for some of its April oil sales to Asia, surprising customers who were expecting an increase that was signaled by the structure of the market. That shows it’s trying to lure buyers toward its lighter and less sulfurous crude varieties at a time when similar-quality grades are rushing to the region from the Americas, Read the full story


Note to OPEC, Russia: India wants to be world's No. 1 oil market
India is moving into position to be the biggest driver of global oil demand growth and has big energy-investment plans.

Oil prices extend declines, pressed by China growth worries
MarketWatch
Rising U.S. oil supplies and pessimism over China’s economic growth outlook for this year, Read the full story


Oil prices entrenched in tight range; eyes on data
Investors awaited clearer direction from upcoming inventory data and comments from senior oil officials.


Gold slips to 3-week low on Fed rate hike expectations
Gold hit a three-week low on Tuesday as expectations for a U.S. interest rate hike this month weighed.

BANKS/BANKING
Deutsche Bank takes $2.2 billion hit to market cap as bank talks stock sale
MarketWatch


German banking giant Deutsche Bank AG has just announced a €8 billion share sale and investors aren't taking it lightly. Read the full story



Saxo Bank: Market at a loss as volatility ebbs

FX-MM
Market volatility continues to drop more or less across the board as the Deutsche Bank one-month broad FX volatility measure is near its lowest since 2014. Read the full story

Credit Suisse: It's time to hedge against growing risks
Credit Suisse's Robert Parker noted that buying the Vix, or fear index, was probably the most effective hedge.

TREASURIES/ BONDS/ STOCKS

Opinion: Sam Eisenstadt, a supreme forecaster, has bad news for stock investors
MarketWatch


He correctly predicted the past six months’ market performance. His outlook for the next six months will disappoint you, writes Mark Hulbert. Read the full story

It’s finally time for U.S. investors to consider European and Japanese stocks
MarketWatch
Bill Barker of Pictet Asset Management says economies in those regions are primed for growth. Read the full story

US Treasurys trade mixed; economic data and auctions eyed
U.S. government debt prices were lower on Tuesday morning as investors eyed fresh economic data and auctions.

European stocks face fourth loss in a row as German manufacturing data disappoint
MarketWatch
European stocks slip Tuesday, dampened by downbeat data from Germany before the European Central Bank issues a policy update later this week. Read the full story

Financials weigh on Nikkei, as other Asian markets eke out gains
MarketWatch
A decline in global financial stocks led by Deutsche Bank weighed on Asian stock markets Tuesday. Read the full story

 

CURRENCIES
Dollar inches higher, eyes on trade numbers
The dollar steadied against a basket of currencies in early European trade, still stuck below highs hit in December and January.


Dollar steadies ahead of trade data; pound at multiweek low amid Brexit implementation

MarketWatch
The dollar churned against leading rivals on Tuesday ahead of U.S. trade data expected to show a widening gap and amid continued speculation that another U.S. interest-rate hike is coming next week. The pound was an active mover, with investors taking their cues from the latest Brexit implementation news. Read the full story



Pound drops below $1.22 and European shares slip after German factory orders suffer worst month since financial crisis
The Telegraph

Pound drops below $1.22 for the first time since January 17 Hong Kong stocks firm on tech share strength European bourses struggle for direction at opening bell German January industrial orders suffer biggest monthly fall since 2009 Morgan Stanley expects pound to rebound to $1.45 by end of 2018 OECD hikes UK growth forecast Read the full story


Pound to euro exchange rate: Sterling falls to six week lows ahead of 2017 Budget
Express
THE pound has tumbled further against the euro, as the looming UK Budget and an update from the European Central Bank puts pressure on Britain's exchange rate. Sterling fell 0.3 per cent against Europe's single currency to €1.535 on Tuesday - its lowest level since January - and has also dropped to multi-week lows against the dollar. Philip Hammond is tomorrow expected to deliver an uneventful Budget without any significant boosts to Government spending that could help the pound. Read the full story



GBP to AUD exchange rate - Pound dives against AUS dollar after French president’s warning
Express
POUND sterling has slumped against the Australian dollar after a warning made by French president Francois Hollande. The GBP to AUD exchange rate has dropped to AU$1.605 down from AU$1.617 yesterday. Australia’s dollar has been strengthened by a modest growth in domestic retail sales for the start of 2017. Sales rose 0.4 per cent in January after a shock decrease of 0.1 per cent at the end of last year. Read the full story




NZ dollar falls
Inside Retail New Zealand

The New Zealand dollar fell below US70c, reaching an eight-week low on expectations of US Federal Reserve rate hikes starting this month and ahead of a dairy auction the futures market is predicting will see prices fall. The kiwi dollar traded at US69.95c as at 8am in Wellington, having fallen to US69.84c, the lowest since January 12, from US70.11c late on Monday (NZT). The trade-weighted index fell to 76.59, the lowest since last October, from 76.74. NZX dairy futures are pointing to an 8 per Read the full story



NZ dollar falls below 70 US cents on Fed rate-hike plans
Scoop
March 7 (BusinessDesk) - The New Zealand dollar fell below 70 US cents, reaching an eight-week low on expectations of Federal Reserve rate hikes starting this month and ahead of a dairy auction that the futures market is predicting will see prices ... Read the full story

Rupees trades marginally higher against US dollar
Livemint

Mumbai: The Indian rupee on Tuesday was trading marginally higher against the US dollar in a thinly traded market as traders avoided taking long positions ahead of the key events in domestic as well as international markets due later this week. Read the full story


Asia mostly higher, Aussie dollar strengthens after RBA holds rates unchanged
Asian shares finished mostly higher on Tuesday amid growing expectations that the Federal Reserve could tighten monetary policy next week.




USA


The world economy can't handle even one US rate hike, strategist Sri-Kumar says
The United States and the rest of the world will feel the impact of even a small hike, strategist Sri-Kumar says.


EMERGING MARKETS


What’s In Store For Emerging Market Bonds?

Barron's

Emerging Markets Daily Since the start of 2016, total returns for USD-denominated emerging market debt rank slightly below U.S. and EM equities, but well above U.S. Treasuries and U.S. investment-grade debt. As active managers of emerging market debt funds contemplate the popularity of passive products, Strategy Pavilion strategists conclude the bond asset class has limited appeal. The VanEck Vectors Emerging Market High Yield Bond exchange-traded fund (HYEM) rose 15% last year, while the Read the full story


Hedge Emerging Markets Before the Fed Meets

Barron's
Emerging markets may decline if the Fed hikes interest rates next week. Here’s how to profit from a plunge. Read the full story

Mexico cancels sugar export permits to the US in 'absurd' dispute
Mexico has canceled existing sugar export permits to the U.S. to avoid penalties in a dispute over the pace of shipments, a document seen by Reuters said.





Iraq forces retake government HQ in Mosul

#IraqatWar


Seizing the government complex marks a symbolic step towards restoring state authority over Mosul
An Iraqi soldier guards a sniper on watch in western Mosul on 23 February (Reuters)
Elite Iraqi security forces dislodged Islamic State militants from the main government buildings in Mosul on Tuesday, their last major city stronghold in Iraq, an Iraqi spokesman said.
Mosul's main museum, which was damaged and looted by the militants, was also taken, Lieutenant Colonel Abdel Amir al-Mohammadawi, a spokesman for the elite interior ministry Rapid Response units told Reuters.
A special Rapid Response team stormed the Nineveh governorate building and the surrounding government complex in an overnight raid that lasted about an hour, he said.
"They killed tens from Daesh," he said, referring to the Islamic State group by one of its Arabic acronyms.
Seizing the government complex would help Iraqi forces attack the militants in the nearby old city center and mark a symbolic step towards restoring state authority over Mosul, even though the buildings are destroyed and not being used by IS.
The battle for Mosul, which started on 17 October, will now enter a more complicated phase in the densely populated old city where, the Iraqi military believes, several thousand militants are among the remaining civilian population.
It was from the grand al-Nuri Mosque in the old city that IS leader Abu Bakr al-Baghdadi declared in 2014 a "caliphate" spanning parts of Iraq and neighboring Syria.
The old city lies on the western bank of the Tigris river that cuts Mosul in two halves. About 750,000 people were estimated by aid organizations to live in west Mosul when the offensive started on this side of the city on 19 February.
The Iraqi forces took the eastern half of the city in January, after 100 days of fighting.
A US-led coalition is providing key air and ground support to the offensive in Iraq's second-largest city.

Saudi Arabia: Non-oil business activity continues to rise in February
POST Online Media
The Purchasing Managers’ Index (PMI) sponsored by Emirates NBD and produced by IHS Markit rose from January’s 56.7 to 57.0 in February, the highest value since August 2015. As a result, the index remains comfortably above the 50-threshold that indicates expansion in business activity in the non-oil producing ... Read the full story

Egyptians go skiing in new mall as country's economy falls off cliff
Middle East Eye
As millions struggle in a precarious economy, Cairo opens a new shopping centre with indoor skiing, 21 cinemas and luxury shops Read the full story

Egyptian Cabinet to discuss budget next week
Mubasher
Cairo - Mubasher: Egypt's prime minister Sherif Ismail said that the Egyptian government will begin discussing the public budget for fiscal year 2017/2018 during the upcoming week, before approving and then referring it the House of … Read the full story



AFRICA

Safaricom and mSurvey launch Consumer Wallet to map Africa’s cash economy
TechCrunch



Kenya’s leading mobile provider, Safaricom, is teaming up with data collection startup, mSurvey, to launch Consumer Wallet―an online platform using mobile and SMS to map Africa’s cash-based economy. ... Read the full story

Egypt's pound shows Nigeria must overcome its fear of floating free
Metro US
By Sujata Rao LONDON (Reuters) - A currency devaluation may do little to fix Nigeria's problems unless it follows the examples of emerging market peers Egypt, Argentina and Russia and embraces floating exchange rates. Grappling with recession, widespread dollar shortages, a budget funding gap and international lenders' reluctance to provide loans, Nigeria has moved tentatively to devalue its currency. The naira traded as low as 375 per dollar on Monday versus the official rate of 305, although Read the full story




Beijing: China’s foreign-currency reserves unexpectedly halted a seven-month losing streak, rising in February amid tighter controls on capital outflows and a rally in the yuan. Read the full story


China's forex reserves unexpectedly rise for first time in eight months, rebounding above $3 trillion
China's forex reserves unexpectedly rose for the first time in eight months in February, rebounding above $3 trillion as a regulatory crackdown and weakness in the dollar helped staunch capital outflows.


Asian stocks flat, euro slides on French election concerns


Metro US
By Nichola Saminather SINGAPORE (Reuters) - Asian stocks were listless early on Tuesday after Wall Street slipped on concerns about U.S. President Donald Trump's ability to focus on economic policies, while the euro slid on fears an anti-European Union candidate may be elected France's next president. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was flat, retaining most of its 0.36 percent gain from Monday. Japan's Nikkei <.N225> fell more than 0.1 percent, driven Read the full story


EUROPE



European markets mixed; Fed hike eyed; German data disappoints
Markets in Europe hovered around the flatline on Tuesday as investors digested new economic data and grew optimistic of a new interest rate hike in the U.S. as early as this month.

Blessed and Highly Favored:
CBI Update:
The CBI for Wednesday, March 8, 2017 did not update on the indicative rates and the last date shown is 01/04/2017.
The currency auction is 165,498,607
There are no news and announcements for Wednesday, March 8, 2017.
ISX Update:


Value Traded
7,800,297,780
Shares Traded
15,783,322,670

ISX ended in Red

Rafidain Bank puts a condition for the granting of an advance ten million dinars for state employees

08/03/2017
(Independent) ... Rafidain Bank announced that it put a condition for the granting of the ten million dinars for state employees advance, referring to perform this step comes to maintain public money.

Press office of the bank said in a statement received by the (independent) announced today that "in order to give the employee an advance ten million dinars, it should be resettled salaries in electronic accounts to facilitate the granting of loans and advances and other banking services in accordance with legal controls procedures."
"The implementation of this step comes to maintain public money and to adopt uniform standards and controls to ensure fairness and transparency for all employees in order to improve the reality of the banking and access to the application necessary to improve the work of banks and international standards." (End)

Severe confinement against Ahli Bank director for violating the terms of the currency auction

In the economy of March 8, 2017 0 15 visit
BAGHDAD / SNG
Announced the Integrity Commission, Wednesday, for the issuance of a default judgment severe term of imprisonment of one year against the director of a private banks with forcing it to pay a fine, attributed it to currency manipulation conducted by the Central Bank of Iraq auction procedures.
The authority said in a statement seen by SNG, that "competent integrity issues misdemeanors, money laundering and economic crime court sentenced in absentia severe term of imprisonment of one year against the managing director of one of the private banks and forcing it to pay a fine; the manipulation of auction procedures currency conducted by the Central Bank of Iraq."
She explained Investigation Department of the Integrity Commission, that "condemned (Z.kh.a) proceeded, within a period filled a civil liability management of banks, for violating the conditions of banks participate in the auction sale and purchase of foreign currency, which makes it imperative for participants to import goods in exchange for the purchased currency auction, "indicating that" the investigation has shown that the bank had not imported goods compared with the amounts bought by the central bank. "
She pointed out that "the court, and as a result provided its evidence and proof, and after knowing the benefit the legal representative of the central bank, which did not ask for the complaint against the accused; for the bank to pay financial penalties arising from his trust, amounting to more than seventy million dinars, and reached a sufficient conviction to criminalize accused based on the provisions Article 19/4 of the money Laundering Act No. 93 of 2004. "
She drew the Integrity Commission that "the decision of the sentencing of convicted fugitive ensure that in addition to severe confinement paragraph two paragraphs oblige the convicted to pay a fine of $ ten million dinars, and give the right hand of the affected establishment of a civil suit for compensation."
The parliamentary Finance Committee revealed, in November 2016, for what she described as "obscene profits" generated through private banks sell the currency at the central bank window, noting that banks get half a billion dinars a day through the window.

Kauaihn Chatter:
3-8-2017   Newshound Guru Kaperoni   Article:   "Central: the auction of the currency, "a transitional entity" and the need for him is still ongoing "   The good part about this article is that they refer to the auctions as a  "transitional entity" which to me only means that they plan to float the dinar and make it internationally convertible and traded.  Only such a move would give the CBI an alternative source of revenue via commissions.

3-8-2017   Newshound Guru loop
   "REACT controls on the main court of the organization and the Central Bank branch in Mosul"  THEY RETAKE THE MOSUL BRANCH OF THE CBI AND THEY ARE READY TO ASSESS THE DAMAGES SO THEY CAN REPAIR IT AND OPEN THE DOORS.
3-7-2017   Newshound Guru BGG   Article:  "Warnings of severe deterioration of the dinar after the appetite for dollar"   This is an OP ED piece...Opinion of writer only...no guarantee of veracity... the big take-away for me was - the author points out a few things that are HISTORICALLY accurate - then says - IN ESSENCE, you can fix it all with currency reform.  Quote: "...in addition to that some of the citizens and the owners of the money prefer the dollar for the dinar for easy transfer and retention of the fact that the money supply will be less, and that's what we confirm it previously necessity currency project to delete the zeros of the three of the currency, which he can solve a lot of problems..."  "...CAN - SOLVE - A - LOT - OF - PROBLEMS..."  BOOM!

3-7-2017   Newshound Guru Kaperoni   I know many do get it..but some still cannot grasp and think the dinar must RV prior to investors coming to Iraq...when the reality is...it is a tool of the CBI to counter the inflationary pressure creating by the very investment we expect to see...."to accommodate a possible real exchange rate appreciation while keeping domestic inflation low.”.

3-7-2017   Newshound Guru tlm724   Article:   "Adviser at the Central Bank of Iraq overcome the financial crisis and will become the country's foreign investment"   Things are progressing nicely for Iraq. Stability is close at hand! IMO the currency reform is on the horizon.  The CBI keeps on keeping on, making the needed adjustment to policy to make things right to go forward.

3-7-2017   Newshound Guru Shredd   Article:  "Central Bank: the financial crisis behind us and the next few days are promising"  Quote:  "Iraq will become a country of foreign investment as a result of competing foreign international companies to invest in the reconstruction after the devastating cities recovered from Daesh."   This is a great reminder of the wealth Iraq has and the interest from foreign investment. "Iraq will become a country of foreign investment" -- that is for sure and as note, that will become a huge part in the rebuilding of the country.  In this same period of time, the stability that is sought by the CBI for their currency reform can then move forward.   ...this is not an "If" but a "When" regarding the legal tender, globally accepted dinar to become the primarily used currency of Iraq.  The immense amount of progress in the banking and investment laws, the protections for investors, the banking customer vetting via KYC, the project to remove the zeros and so many more accomplishments all still stand.  None of the progress the CBI and the GOI have made to mature from their past dictatorship have been repealed. Progress has been and continues to be forward.

3-7-2017  Intel Guru Frank26   Last week...they made a FINAL decision on their economic reform and monetary reform...and I believe the strike in Syria had a big impact with that. We are AT THE END of this postponement of this! The IQD is about to become an INTERNATIONAL CURRENCY.. You saw the market rate...down to 2%...that’s in compliance...! They are to improve their exchange rate...and remove the usage of foreign currency...THIS IS A SOLID EXAMPLE of what is happening.   Their need for a policy to RV is NOT a theory...it is a plan...which they are doing right in front of your eyes.  All the financial articles from the CBI are coming to life NOW!   [post 2 of 2]

3-7-2017   Intel Guru Frank26   I’ve told you before...a flag in the heart of Mosul, planted by Abadi...then you will see the monetary reform.  Iraq continues to advance into Mosul...and...a bonus...“Raqqa – which is in Syria”.  Iraq can offer a VALUE of security and stability.  This value is represented by that INTERNATIONAL strike within Syria.  Today...the WORTH of Iraq is more realistic...that’s what the world is watching/wanting.  The strike on Syria was BIG news!  In January 2017...we had an announcement from the CBI...where they claimed that once the battle in Mosul was complete...they would advance in their monetary reform...but then he went on the say that it was being postponed.  [post 1 of 2....stay tuned]

3-7-2017   Newshound Guru Islandg1211   Many of us were hoping that Trump would speed up the RV.  He may not have done that, but rest assure he isn't going to let it be delayed. He's put pressure on getting rid of ISIS both in Mosul and in Raqqa. The RV needs, IMO, in this order:  1) Mosul (and then Raqqa)  2) National Reconciliation Law  3) Day of Celebration for getting rid of ISIS and coming together politically  4) HCL  5) RV with no announcement nor fanfare.   Trump certainly could try to push a settlement politically quicker and get the RV done sooner.  But, for right now, it looks to me like my prediction of mid-summer with my list of things getting done prior still stands.  In January, I posted these same thoughts, and I don't see anything new to amend my opinion on the RV date of mid-summer with a rate just above the USD, around $1.13 (the high end of the original Ernst and Young appraisal of the Dinar.)  [reference Guru  Islandg1211 1-26-2017]

3-7-2017   Newshound Guru Kaperoni   Article:  "Central: financial sector management electronically end of 2017"   Currency reform should start well before end of year IMO.  [reference Guru Kaperoni post 3-5-2017]

3-7-2017   Intel/Newshound Guru Mnt Goat   Article quotes:  "...Iraq received 18 billion dollars from the International Monetary Fund (IMF) on installments...9 billions of this figure was paid to Kuwait for 1990 war compensations. ...she added that Iraq signed an agreement with the IMF to reform the financial system in the country. Iraq will receive this amount on three future installments."   ...Iraq still owed just about  9 billion in war reparations...  I believe this concludes the payments “in full” to Kuwait for war reparations.  This is huge news!  I believe it brings us that much closer to getting out of sanctions for Iraq...much closer to the RV. They will need this to conclude the CURRENCY REFORM process.
Elmer:
Not in today
Artmeister:
Not in today
Catnip:
ARTICLE 1-A (from PM Abadi's website; posted only on Arabic side, not on English side)

Prime Minister Dr. Haider al-Abadi calls on politicians to move in political work in the spirit of the fighter in battle (Note: title on screen was "Beyond Daesh: Ending the Cycle of Conflicts Toward Durable Solutions"...and title was in English, not Arabic)

Mr. Prime Minister, Dr. Haider al-Abadi said that the Iraqis are fighting in Mosul of all stripes and there is competition for the rush to the front lines in the battle, noting that the battle today is a fateful and existential battle that Daesh to Atsarana on the ground or power but want to change our civilization and our existence.
This came through the participation of sovereignty on Wednesday in the works of Sulaymaniyah Forum, organized by the University of Sulaymaniyah, where he congratulated at the beginning of his speech, Iraqi women on the occasion of International Women's Festival, praising their role and steadfastness, recalling she made her sons and brothers and fathers for the defense of Iraq, calling its biggest role in the future.
He referred to the importance of voluntary work in universities, stressing that the Better Business calling on students to take an approach to serve their country and fuse the university community.
Mr. Prime Minister, said the call to community reconciliation as part of national reconciliation, adding that the political, ethnic and sectarian differences will not lead to victory, and that victory, but the unit will not be achieved.
He said Dr. Haider al-Abadi said the military forces fighting alongside the Peshmerga This happens for the first time, saying that we strive to be the army of all Iraqis, and our security forces unite us to serve the Iraqis.
He added that the sovereignty of the people of Mosul should govern their city, calling themselves politicians to greater unity, stressing that Iraq does not want to return to dictatorship again. 
Mr. Prime Minister, pointed out that corruption least harmful for terrorism but is leading to terrorism and said Iraq has succeeded in raising the contradictions and the world is found in their interest to support us and Aaadna, and that Iraq is not without its problems with some countries, but does not prevent participation with these countries in the fight against terrorism.
He spoke about the war sovereignty generate families displaced and wronged, and this in turn will generate an incubator for terrorism, calling on politicians to move in political work in the spirit of the fighter in battle.

Information Office of the Prime Minister
March 8, 2017 

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ARTICLE 1-B (from PM Abadi's website)

Prime Minister and Commander in Chief of the Armed Forces, Dr. Haider al-Abadi up to the city of Mosul and inspects military units in operations boycotted coming Aaninoy

Mr. Prime Minister and Commander in Chief of the Armed Forces, Dr. Haider al-Abadi arrived this morning to the city of Mosul, and lose its sovereignty demarcation lines in the definitive coming Aaninoy operations.
He briefed the Commander in Chief of the Armed Forces during a meeting with senior field and stationed commanders of our heroine in the army and federal police and other forces involved in the liberation of the province of Nineveh operations, the progress of the battles and victories achieved on their hands against terrorist Daesh gangs, and over sovereignty expressed his pride as achieved by heroes of all configurations in all fronts, especially the big victories they earn the right side of the city of Mosul reprehensible and defeat of the Daesh gangs last night which resulted in raising the Iraqi flag in the government complex and other government buildings.
Mr. Prime Minister, he said inevitably defeat these terrorist gangs and that the Iraqis will go out heads held high from these battles and the Iraqi army and other forces involved in these operations and in other fronts score page chronicles of images epic heroic and offers great sacrifices for the liberation of every inch of the land of Iraq beloved of Conception terrorist gangs.

Information Office of the Prime Minister
March 7, 2017

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ARTICLE 1-C (from PM Abadi's website)

Prime Minister Dr. Haidar al-Abbadi Meets President of Kurdistan, Massoud Barzani

Mr. Prime Minister, Dr. Haider al-Abadi met in Arbil on Tuesday, President of Kurdistan, Massoud Barzani.
During the meeting, the blessing of the victories achieved in Mosul and the importance sustain the momentum of these victories and the emphasis on strengthening the work between the center and the region.
Also they invited everyone to unite the political discourse of the state of the country entitled to the challenges of working together in order to overcome.
The meeting discussed the issue of displaced persons and the need to exert more efforts in respect thereof.
It was also great emphasis on coordination and understanding between the different forms of the Peshmerga forces, including in the fight against Daesh terrorist gangs.
The meeting stressed that the country is witnessing a large outdoor open and this requires action in order to move forward in this opening for his service.

Information Office of the Prime Minister
March 7, 2017

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ARTICLE 1-D (from PM Abadi's website)

Prime Minister Dr. Haider al-Abadi meet with leaders of the Patriotic Union of Kurdistan in Sulaimaniya 

Mr. Prime Minister, Dr. Haider al-Abadi was held Tuesday in Sulaimaniya meeting with the leaders of the Patriotic Union of Kurdistan (PUK).
During the meeting, they discussed security and political and economic conditions in the country and hailed the victories achieved in Mosul.
It was agreed on the importance of cooperation between the political blocs not to go back to where we were formerly of conflicts and disputes and emphasized that the Kurdish situation is inseparable from the situation in Iraq in addition to finding solutions to some of the outstanding issues.


Information Office of the Prime Minister
March 7, 2017

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ARTICLE 1-E (from PM Abadi's website)

Prime Minister Dr. Haider al-Abadi receives the leaders of the Movement for Change in Sulaymaniyah 

Mr. Prime Minister, Dr. Haider al-Abadi on Tuesday received at his residence in Sulaimaniya, the leaders of the Movement for Change.
During the meeting, they discussed the course of the battle to liberate Mosul and the blessing of the victories achieved, and post-Daesh in addition to the political and economic situation.
Emphasis was placed on the importance of dialogue to solve the problems and to maintain the homeland and the citizen's interest and unification of the speech to address the challenges faced by the country.

Information Office of the Prime Minister
March 72 017 

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ARTICLE 2

Ebadi is visiting Washington this month and meet with Trump

2017/3/8 8:38
[Oan- follow-up]
Prime Minister plans, Haydar al-Abadi, visiting Washington, DC this month.
A spokesman for the White House Tuesday Abadi "will visit Washington and meet with President Donald Trump during the week beginning 19 March." The spokesman gave no further details.
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ARTICLE 3

Urgent .. Angmaciei Daesh official killed in Mosul

2017/3/7 22:24
[Where - Baghdad] 
Alangmasien official of the terrorist gangs Daesh in the pedal area on the right side of the city of Mosul, the Nineveh province, was killed.
She stressed the Military Intelligence Directorate said in a statement received by all of Iraq [where] a copy of it today, that "Alangmasien Aldoaash terrorist battalion official Hamad Mahmoud nicknamed the Iron [Abu Fatima Alcasoma] killed in the aerial bombing of the pedal in the area Ayman Mosul." 
The raid of the international coalition, killing seven of the military leaders of the guerrilla terrorist Daesh in Nagar neighborhood side right to the city of Mosul, and they both "terrorist known as Abu Abdul Rahman Ansari, the so-called Jund al-Khilafah official [Saudi nationality and the terrorist known as Abu Khaled [SR], and the terrorist nicknamed morning Anzi [SR], and the terrorist nicknamed Abu Azzam [SR], the terrorist Abu Hijab [SR] and the terrorist known as Abu Sayah [Jordanian], and the terrorist nicknamed Abu Tiba [BD]. " 
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ARTICLE 4

Secure an exit from Badush thousand displaced people and the crowd and the free train station

2017/3/8 12:15
[Oan- Baghdad] 
People crowd forces managed 26 brigade and division ninth Armoured military locks out more than a thousand displaced people in terms of regions and Badush Rihaniyya northwest right side of the city of Mosul.
According to a statement to inform the crowd received by all of Iraq [where] a copy of it, that "the popular crowd Brigade 2, dominated the area in the Humaydan Badush, and free soap Train Station, located on the side of the road link between Ayman al-Mosul and Tal Afar."
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ARTICLE 5

Abadi Sulaimaniyah: We will not hesitate to strike terror in other countries, the first of which Syria


Sulaymaniyah - Iraq Press - March 8 / March announced the Commander in Chief of the Armed Forces, Prime Minister Haider al - Abadi, Wednesday, in a speech during the (Forum Sulaymaniyah fifth) place under the auspices of the American University there that "Iraq will not hesitate to strike terror sites in the neighboring countries , including Syria ".
He added al - Abadi, said , "With respect for the sovereignty of other countries, we will not hesitate to strike terror sites in neighboring countries threaten inside Iraq , " he said , adding, that "In the last time that targeted terror sites in Syria, there have been terroristsare sending car bombs into Baghdad to carry out terrorist acts and the countries in the region to make further efforts and cooperation to eradicate terrorism. " Ended .oh

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ARTICLE 6

People crowd the board warns of newspapers and fake sites claiming affiliation with ..omracbon: Circular blackout


BAGHDAD - Iraq Press - March 8 / March: Media Authority popular crowd Directorate, warned Wednesday of the existence of newspapers and Oumouaqa electronic fake - unnamed - claim to be affiliated with the popular crowd and it is not so, and I followed in a statement received / Iraq Press / copy of it:
(O ye who believe! If someone punk news, verify that harm people in ignorance and repent for what you have done)
Abounded recently some newspapers, websites and radio stations that claim to be a subsidiary of the popular crowd, or to inform the crowd appearance, as flags of the Directorate of the popular crowd Commission is the only body authorized to formally address the audience, it emphasizes the lack of such a claims trying powerless to influence the credibility let us know, so shall warning that he will sue the media, which falsely claim affiliation to the body the popular crowd. We also draw local and international media to the need to check every newsworthy or fictitious material prior to publication, and in order to achieve greater connectivity and credibility in the news note below to accredited media at the official websites Commission Directorate popular crowd.
So observers noted that the recipe circular in condemnations no longer find useful and at all levels as the circular blackout in the sense that the recipient will not be understood from the authorities, newspapers and websites intended this ultimatum like pointing the finger at those responsible for the financial, administrative and political corruption, and collapse security without mentioning their names they are all conducted in a manner generalization that is likely to target this or the other what eventually hurt the welfare of the corrupt real, which serves to generalize his goals and is an outlet for him to escape accountability and punishment and the security of diagnosis and punishment offended literature and must call a spade a spade in order to avoid this dangerous situation Atelzm that the judiciary and the law. Ended O.h
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ARTICLE 7

World women's birthday today

2017/3/8 11:25

[Oan- follow-up] 
The world celebrates the eighth of March of each year, International Women's Day.
And be a pillar of the celebrations of this day to denote the year of respect, appreciation and love of women's economic achievements, political and social. 
In some countries, such as China, Russia and Cuba women get off on this day. Celebrate the occasion came following the first conference of the World Federation of Democratic Women, which was held in Paris in 1945 was held. 
However, the allocation of the eighth day of March world as a feast for women are not only many years after that, because the United Nations did not agree to adopt these appropriate only in 1977 when the UN passed a resolution calling for the world to adopt any day of the year they choose to celebrate women decided majority of states choose the eighth of March, thus turning the day into a symbol of the struggle of women graduated in which women across the world in demonstrations to demand their rights and their demands. 
And several countries have made this day an official holiday in the country, but some of them gave him a holiday only for women without men Eetmazn it. 
The United Nations has revealed, on this occasion, "a road map with benchmarks for achieving gender equality at the system-wide, so that our organization truly represents the people we serve, Targets past did not materialize, and now must move from aspiration to action." 

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