Word on the Street Friday 4/28/17
2nd Friday UPDATE for April 28, 2017
Iraqi TV is reporting activating of the Ministry of Planning. This is alleged to be the last "thing" before the RV. Is the clock "finally" ticking?
Time Will Tell All! 
Friday UPDATE for April 28, 2017
Maliki owned TV reported a military head predicting another 3 weeks before Mosul is liberated. The old city should clear tomorrow with the mosque but Western Mosul needs another 3 weeks which will be around mid-May close to the time Pres Trump is expected to be there to meet Abadi. #wearethepeople
Word on the Street Friday 4/28/17:
Forex Rates:
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD | | | 1,143.9000 | 1,140.5000 | 1,143.9000 | | 07:13 |
| USD/VND | | | 22,431.0000 | 22,396.0000 | 22,431.0000 | | 07:13 |
| USD/CNY | | | 6.9117 | 6.8857 | 6.8967 | | 07:29 |
| USD/KWD | | | 0.3039 | 0.3038 | 0.3039 | | 01:32 |
| GBP/USD | | | 1.2952 | 1.2891 | 1.2893 | | 07:29 |
| USD/IRR | | | 12,048.0000 | 12,048.0000 | 12,048.0000 | | 17:51 |
| USD/IDR | | | 13,350.0000 | 13,302.0000 | 13,350.0000 | | 07:27 |
CNBC Link: http://www.cnbc.com/markets/
CNBC Morning Squawk Link: https://view.response.cnbc.
Breaking news:
Iraqi forces will end the liberation of Mosul's right-hand coast in a maximum of three weeks, Army Chief of Staff Lieutenant General Othman al-Ghanmi said on Friday.
"The security forces have been subjected to three chemical attacks by a sympathetic organization in the Ayman Mosul," Ganami said in an interview with the site "Russia Today", and continued, "Al-Ghad Press", adding that "the international coalition has knowledge of it."
"It caused skin rash, some cases were treated and precautions were taken in the event of repeated chemical attacks," he said.
Asked about the extent of Iraqi forces' control over the old town, al-Ghanmi said that "the forces control 40 percent of them, and the percentage controlled by a preacher inside Ayman Mosul is estimated at 35 percent."
He added that "the areas of influence within the whole of Iraq is up to 3.8% of the total area of Iraq."
On the whereabouts of al-Baghdadi, al-Ghanami said that "intelligence indicates that he is traveling on the border between Iraq and Syria continuously," denying "the presence of US combat ground forces in Iraq."
On the four-way joint coordination center between Iraq, Russia, Iran and Syria, Al-Ghanmi noted that "the center provides very useful information to locate terrorists and the goals are addressed through joint quadripartite coordination."
"The Turkish forces are preparing to block the pretexts of the Turkish side to violate Iraqi sovereignty," he said.
With regard to the presence of Turkish troops near Mosul, al-Ghanami also stressed that Iraqi forces will not allow the intervention of these forces in any military operation.
Chief of Staff of the Army: Ayman Mosul will be liberated within 3 weeks and this is where the "Baghdadi"
llow-up / tomorrow Press:
Iraqi forces will end the liberation of Mosul's right-hand coast in a maximum of three weeks, Army Chief of Staff Lieutenant General Othman al-Ghanmi said on Friday.
"The security forces have been subjected to three chemical attacks by a sympathetic organization in the Ayman Mosul," Ganami said in an interview with the site "Russia Today", and continued, "Al-Ghad Press", adding that "the international coalition has knowledge of it."
"It caused skin rash, some cases were treated and precautions were taken in the event of repeated chemical attacks," he said.
Asked about the extent of Iraqi forces' control over the old town, al-Ghanmi said that "the forces control 40 percent of them, and the percentage controlled by a preacher inside Ayman Mosul is estimated at 35 percent."
He added that "the areas of influence within the whole of Iraq is up to 3.8% of the total area of Iraq."
On the whereabouts of al-Baghdadi, al-Ghanami said that "intelligence indicates that he is traveling on the border between Iraq and Syria continuously," denying "the presence of US combat ground forces in Iraq."
On the four-way joint coordination center between Iraq, Russia, Iran and Syria, Al-Ghanmi noted that "the center provides very useful information to locate terrorists and the goals are addressed through joint quadripartite coordination."
"The Turkish forces are preparing to block the pretexts of the Turkish side to violate Iraqi sovereignty," he said.
With regard to the presence of Turkish troops near Mosul, al-Ghanami also stressed that Iraqi forces will not allow the intervention of these forces in any military operation.
DC NY Iraq Articles:
Trump to visit Iraq next month
27-04-2017 A deputy close to Prime Minister Haider al-Abadi, on Thursday, will visit the US president to Iraq next May as part of a tour of three countries in the region
"It is very likely that US President Donald Trump will visit Iraq next May as part of his tour of the region that was revealed today," MP Jassem Mohammad Jaafar told reporters.
"It is very likely that US President Donald Trump will visit Iraq next May as part of his tour of the region that was revealed today," MP Jassem Mohammad Jaafar told reporters.
Jaafar added that "America has many interests in Iraq, including the presence of 5,000 military on Iraqi territory," pointing out that "the sensitivity of the security situation prevent the US administration from the official announcement of this visit."
The newspaper "Life" revealed on Thursday, the intention of US President Donald Trump to visit three countries in the Middle East next month
International Security meets today and possible sanctions on North Korea
The Ministry of Oil announced on Thursday a slight increase in exports and oil revenues for the month of March, noting that the quantities exported were loaded by 32 international companies.
The spokesman for the Ministry of Oil Assem Jihad said in a statement that "the total quantities exported crude oil and revenues achieved for the month of March rose slightly compared to last February," noting that "the final statistics issued by the Iraqi oil marketing company Sumo amounted to these exports 101 million barrels of revenue Amounted to 4 billion and 766 million dollars. "
He added that "the total quantities exported from crude oil for the month of March of oil fields in central and southern Iraq amounted to 99 million and 500 thousand barrels of revenues amounted to 4 billion and 697 million dollars, while the total exports of Kirkuk oil 1 million and 500 thousand barrels of revenues amounted to 69 million dollars. "
Jihad pointed out that "the average price per barrel amounted to 47,188 dollars," noting that "the exported quantities were loaded by 32 international companies of different nationalities from the ports of Basra and Khor al-Amayah and monsoons on the Gulf and the Turkish port of Ceyhan on the Mediterranean."
Iraq announces its position on extending oil production
Oil Minister Jabbar al-Allaibi said on Thursday that Iraq would abide by the consensus when OPEC holds its meeting in Vienna next month to discuss the extension of the cut production agreement.
"We will go to OPEC on May 25 and we will certainly abide by OPEC's final decision and collective decisions," al-Luaibi was quoted as saying.
Iraq, OPEC's second largest producer, is fully committed to the FAO-led supply cut agreement reached last year and has achieved 97 percent of its output reduction target, he said.
OPEC, Russia and other producers agreed to cut production by 1.8 million bpd for six months from January 1 to support the market. Producers are expected to extend the deal for another six months when they meet in May. Ending / 2
Baghdad to host an international banking conference next month
The Association of Private Banks, on Thursday, the embrace of the capital Baghdad an international banking conference with the participation of 30 local and Arab and foreign companies from seven countries, pointing out that the goal of the conference to stimulate international companies to enter the Iraqi market.
The Executive Director of the Association of Private Banks Ali Tariq said in a statement that the Association of Private Banks will organize the conference on banking technologies in the capital Baghdad on the 6th and 7th of next May with the participation of 30 foreign and Arab and local companies from Turkey, Jordan, Lebanon, UAE, Bahrain, Morocco and Iraq. central bank".
"The participating companies will showcase the most advanced systems in the world," he added. "These companies have expressed their readiness to be present in the field of local work and to support the financial sector in the new world of advanced technology."
He explained that "the conference will address the strategy of the Central Bank and the development of banking technology using modern technology and balance of payments and the project to settle salaries and infrastructure of banking programs and electronic payment tools modern."
Tarek pointed out that "the purpose of holding the conference of banking technologies is to inform the Iraqi government and private banks on the services provided by companies in addition to stimulate international companies to enter the Iraqi market and the provision of products."Ending / 25
Kauaihn Iraq Articles:dd
IMF and Iraqi private sector discuss improving tax revenues
Representatives of the Iraqi private sector discussed with a delegation from the International Monetary Fund, the latter's approval of a loan to Iraq to pay the arrears of Iraqi contractors, processors and farmers, and ways to solve this problem, as this is important in the stability of the economy.
IMF Vice President for the Middle East and Asia, Christian Jos, asked at a meeting in Baghdad about the prospects for increasing state revenues, including the activation of taxes and those imposed on non-oil products.
He pointed out that «customs duties were between 5 and 10 percent», saying that «is not the right way to collect customs revenues». He stressed the need to «change this method to reach 30 percent».
"The fastest gains and revenues result from the regulation of the Taxation Unit, and these are generating significant revenues as they are imposed on the large segment of traders," he said.
He called for a "freeze of employment until the development of the administration, because the high proportion of civil servants was a means to satisfy some and employ them without regard to efficiency, and will lead to a deficit in the next ten years."
He pointed to «the problem of weakness of the banking sector and the importance of strengthening the business through the restructuring of the banking« Rafidain »and« rational »government, and open a large space in front of private banks with the need to assess the weaknesses and the establishment of the correct foundations to combat money laundering, can be recourse to the Integrity Commission and specialized organizations» .
He noted «the progress made by the Office of Financial Supervision in the audit of unaudited transactions».
The economic expert Ibrahim al-Baghdadi said in an intervention that Iraq "began to meet the customs tariff, which increased its resources in some customs outlets to more than 30 times, and increased the collection of electricity 20 times, and referred the Ministry of Electricity to collect electricity wages on companies under investment contracts, Positive results ».
He stressed that «payment of receivables will move the wheel of the market and address the weakness of liquidity in the markets, which affected the level of per capita income and small businesses».
The head of the Iraqi Contractors Union, Ali Sanafi, called for "the release of arrears of transactions audited by the Office of Financial Supervision."
He said that «the union of contractors includes 34 thousand contractors, and receive a large part of their suffering in the stage of tax calculation, because the amounts of tax deduction reserved in the provinces».
"The reform of the banking sector is a gateway to the entry of diversified investments into Iraq," said economic researcher Lubna al-Shammari.
Trump grants authority to Pentagon to allow US troops to increase in Iraq
Baghdad / SNG
US President Donald Trump has given the military the authority to change a confusing system to determine troop levels in Iraq and Syria. Critics have said it allowed the White House to control every small and large battle decision and ultimately led to a lack of clarity on the real numbers of US troops.
The Pentagon on Wednesday confirmed the measure and said there had been no change to US troop levels so far.
She also stressed that the US strategy in Iraq and Syria is still focused on supporting local forces fighting a sympathetic, a method that led to avoid the need for a large US ground force.
But the change in troop levels is another sign of the big powers that Trump seems to be comfortable with to give their military commanders to make decisions on battlefields and may allow for more rapid increases in troop numbers in the future.
The system, known as the level of troop management, was developed in Iraq and Syria during the administration of President Barack Obama as a way to extend control over the US military.
Obama has stepped up periods of restrictions to allow an increase in the number of troops in Iraq and Syria as the campaign against Dahesh develops.
However, the numbers did not reflect the extent of US commitment on the ground, as military commanders often found unorthodox ways of circumventing restrictions, including by temporarily bringing in troops or hiring more contractors.
Official troop levels of 5262 in Iraq and 503 in Syria are believed to be less than 2,000 than the actual number of US troops in both countries.
Pentagon spokeswoman Dana White said Trump had given Defense Secretary James Matisse authority to set troop levels in Iraq and Syria from now on.
"We will conduct a review to ensure that the figures we present to Congress and the public accurately reflect the facts on the ground, it is about transparency," she said in a statement posted on Buzz News News earlier on Wednesday.
Supporters of regime change within the US military also say shifting the Pentagon's decision-making power from the White House will allow for more flexibility in dealing with sudden developments on the battlefield.
The change of the system of determining the level of forces with another more transparent task is difficult, especially because of the political sensitivities in Iraq towards US forces, but the Iraqi and US governments have pointed to the need for the continuation of the US military presence, has not yet decided the size of such presence.
Experts say much information about the arrival or departure of US troops, especially if announced in advance, could give the enemy information
The Pentagon on Wednesday confirmed the measure and said there had been no change to US troop levels so far.
She also stressed that the US strategy in Iraq and Syria is still focused on supporting local forces fighting a sympathetic, a method that led to avoid the need for a large US ground force.
But the change in troop levels is another sign of the big powers that Trump seems to be comfortable with to give their military commanders to make decisions on battlefields and may allow for more rapid increases in troop numbers in the future.
The system, known as the level of troop management, was developed in Iraq and Syria during the administration of President Barack Obama as a way to extend control over the US military.
Obama has stepped up periods of restrictions to allow an increase in the number of troops in Iraq and Syria as the campaign against Dahesh develops.
However, the numbers did not reflect the extent of US commitment on the ground, as military commanders often found unorthodox ways of circumventing restrictions, including by temporarily bringing in troops or hiring more contractors.
Official troop levels of 5262 in Iraq and 503 in Syria are believed to be less than 2,000 than the actual number of US troops in both countries.
Pentagon spokeswoman Dana White said Trump had given Defense Secretary James Matisse authority to set troop levels in Iraq and Syria from now on.
"We will conduct a review to ensure that the figures we present to Congress and the public accurately reflect the facts on the ground, it is about transparency," she said in a statement posted on Buzz News News earlier on Wednesday.
Supporters of regime change within the US military also say shifting the Pentagon's decision-making power from the White House will allow for more flexibility in dealing with sudden developments on the battlefield.
The change of the system of determining the level of forces with another more transparent task is difficult, especially because of the political sensitivities in Iraq towards US forces, but the Iraqi and US governments have pointed to the need for the continuation of the US military presence, has not yet decided the size of such presence.
Experts say much information about the arrival or departure of US troops, especially if announced in advance, could give the enemy information
UN calls on Turkey to respect Iraqi sovereignty
Baghdad / SNG
She said The United Nations, expressed its concern over the strikes by Turkish forces on the northern region of Jabal Sinjar Iraq, preacher Turkey to respect Iraqi sovereignty.
"We are concerned about this incident and express our condolences to the families of the victims," said Stephane Dujarric, spokesman for the UN Secretary-General Kofi Annan. "We understand the interest of the UN member states in the security issues, But we remind them of their commitments under the Charter of the Organization, which calls on them to respect fully the principles of sovereignty and territorial integrity and non-interference in the internal affairs of other States.
"The governments of Turkey and Iraq should hold consultations on all subjects of common interest and concern," Diogaric said.
Date:
The Turkish army announced that its aircraft launched early Tuesday raids on sites of the PKK and its affiliated organizations in Jabal Sinjar in northern Iraq and Mount Qarjukh Syria, according to him.
The army claimed that the areas targeted by the raids turned into "hideouts of terrorism" to launch "terrorist" attacks that cause the death and injury of Turkish civilians, soldiers and security personnel.
The spokesman for the Kurdish People's Protection Units, Redor Khalil, who was targeted by the Turkish strikes in Syria, said that 20 people were killed and 18 wounded.
ABU DHABI (Reuters) - The price of crude oil will fall below $ 40 a barrel unless the Organization of Petroleum Exporting Countries (OPEC) and its allied producers expand their collective production cuts beyond June, the head of research at the Abu Dhabi Investment Authority, Christoph Rohl, warned on Thursday.
According to Rohl, quoted by Bloomberg, the six-month cuts, which came into force last January, put an end to prices, but increased supply of US shale oil, along with high US inventories and continuing oil discoveries, Crude oil above $ 50.
"If OPEC and other oil countries do not agree to continue the cuts, this price of $ 50 will go down and there is nothing to stop it below $ 40 a barrel," Rohl said.
Roehl said producer countries would not be close to getting rid of existing oil reserves unless they expanded their production cuts to the second half of the year, adding that oil consumers may need two and a half years to exhaust the current surplus in global stocks.
He explained that one of the results of the cuts for OPEC is the acquisition of Iraq and Iran quotas in the global market at the expense of the largest member of the Saudi group.
OPEC and other major producers, including Russia, agreed in December to pump less oil to try to rein in supply surpluses, which are putting pressure on prices. The organization plans to decide at next month's meeting whether to cut its output in the second half of this year. Ending / 2
Iraq plans to sign a memorandum with the Vatican to promote the Christian pilgrims to Dhi Qar
The Tourism Authority revealed Thursday its intention to conclude a memorandum with the Vatican to promote Christian pilgrims from all over the world to the shrine of the Prophet Ibrahim in the ancient city of Ur, confirming the intention to open an investment tourist city in Hor al-Chabaish.
"The Authority intends to conclude a large tourist memorandum with the Vatican to promote Christian pilgrims from all over the world towards the shrine of the Prophet Ibrahim in the ancient city of Ur," the director of relations and information in the authority Mohammed Al-Rafi said in a statement.
He added that "this step came after the visit of a delegation from the Vatican to the city of Nasiriyah and the Hajj in the shrine of the Prophet Ibrahim (p)," adding that "the Commission has the intention to open an investment tourist city in Hor al-Chabaish to attract the largest possible number of visitors to the region."
"Routine measures by investors that promised to spend money by local governments are preventing the development of tourism in the marshes quickly," he said. Finished 25 d
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Briefing by Secretary of the Treasury Steven Mnuchin and Director of the National Economic Council Gary CohnJames S. Brady Press Briefing Room
Briefing by Secretary of the Treasury Steven Mnuchin and Director of the Na...
MR. SPICER: Never thought so many people would be turning out for the Antiquities Act, but thank you all for being here. Obviously today we're here to talk about the President’s effort to provide tax relief to both our corporations that will help grow jobs, and to middle Americans. Two people here to explain it, the Director of our National Economic Council, Gary Cohn, is going to walk through why we're doing what we're doing and then the personal side of the tax. Then Secretary of the Treasury Steven Mnuchin will walk through the business side and the corporate side of what the President is doing to bring jobs back to this country, to make our businesses more competitive and help our economy grow.
At the end, they’d be glad to take questions on this. You are being provided a one-page right not that provides the top level aspects of the plan. And then both the Director and Secretary will go into further detail and take your questions.
So without any further ado, Director Gary Cohn.
DIRECTOR COHN: Thank you, Sean. And good afternoon, everyone, and thank you for being here. This is quite an historic day for us and one that we've been looking forward to for a long time and one we're very excited about.
We have a once-in-a-generation opportunity to do something really big. President Trump has made tax reform a priority, and we have a Republican Congress that wants to get it done. And this is something that, quite honestly, I hope the Democrats would support, too, because it's good for the American people. The President is going to seize this opportunity by leading the most significant tax reform legislation since 1986, and one of the biggest tax cuts in the American history.
We've been working on this for a long time. We've had great meetings. We had a great meeting last night with the leadership of the House and the Senate. We have agreed on many of the important principles of tax reform. We look forward to working together with the House and the Senate, very closely, in the weeks ahead.
The President has focused on three things since his campaign -- job creation, economic growth, and helping the low- and middle-income families who have been left behind by this economy. He understands there are a lot of people in this country that feel like they work hard and they just cannot get ahead. They are sick of turning their paychecks over to Washington and having no idea of how those dollars are spent. They are frustrated by a tax code that is so complicated they can't even do their own taxes.
That's why tax reform is such a big priority to this President. He cares about making the economy work better for all American people.
Here’s a little history. When President Kennedy cut taxes in early 1960, the top rate of personal income was over 90 percent and there was rampant tax avoidance. And then, 20 years later, President Reagan took rates down to 28 percent for individuals. Since then, rates have been creeping back up and more loopholes and special interest tax breaks have made their way back into the tax code, disadvantaging average Americans.
And then, on the business side, when President Reagan left office in 1988, the corporate tax rate was 34 percent, and it hasn't changed much since. For the last 25 years, other countries have been aggressively cutting their tax rates and moving to a territorial system in order to attract business. And the U.S. has done none of that. In 2017, we are still stuck with a 1988 corporate tax. That's why we're now one of the least competitive countries in the developed world when it comes to corporate tax.
So tax reform is long overdue. We are going to cut taxes for businesses to make them competitive, and we're going to cut taxes for the American people, especially low- and middle-income families.
Today I'm going to outline the principles we have put in place for personal tax reform, and then I'm going to hand it over to Secretary Mnuchin to talk about the business side.
First, here are a few statistics for you on the individual side. In 1935, we had a one-page tax form consisting of 34 lines with two pages of instructions. Today the basic 1040 form has 79 lines and 211 pages of instructions. Instead of a single form, the IRS now has 199 tax forms on the individual side of our tax code. Taxpayers spend nearly 7 billion hours complying with these tax codes every year. And nearly 90 percent of taxpayers need some help in filing their taxes.
We are going to cut taxes and simplify the tax code by taking the current seven tax brackets we have today and reducing them to only three brackets -- a 10 percent bracket, a 25 percent bracket, and a 35 percent bracket. We're going to double the standard deduction so that a married couple won't pay any taxes on the first $24,000 of income they earn. So, in essence, we are creating a zero tax rate -- yes, a zero tax rate -- for the first $24,000 that a couple earns.
The largest standard deduction also leads to simplification because far fewer taxpayers will need to itemize, which means their tax form can go back -- yes -- to that one simple page that I talked about earlier.
Families in this country will also benefit from tax relief to help them with child and dependent care expenses. We are going to repeal the alternative minimum tax. The AMT creates significant complications and burdens which require taxpayers to do their taxes twice to see which is higher. That makes no sense, and we should have one simple tax code.
As we all know, job creation and economic growth is the top priority of the administration. Nothing drives economic growth like capital investment. Therefore, we are going to return the top capital gains tax rate and dividend rate to 20 percent, repealing the harmful 3.8 percent Obamacare tax on dividends and capital gains. That tax has been a direct hit on investment income and small business owners.
We're going to repeal the death tax. The threat of being hit by the death tax leaves small business owners and farmers in this country to waste countless hours and resources on complicated estate planning to make sure their children aren't hit with a huge tax when they die. No one wants to see their children have to sell the family business to pay an unfair tax.
We're going to eliminate most of the tax breaks that are mainly benefits to high-income individuals. Homeownership, charitable giving and retirement savings will be protected. But other tax benefits will be eliminated.
This isn't going to be easy. Doing big things never is. We will be attacked from the left and we will be attacked from the right. But one thing is certain: I would never, ever bet against this President. He will get this done for the American people.
With that, I'm going to turn it over to Secretary Mnuchin to go through the business tax plan, and then we will both come back and take some questions.
SECRETARY MNUCHIN: Thank you, Gary.
So as Gary said, we've been working on this plan for a very considerable period of time. And our objective is to make U.S. businesses the most competitive in the world. Right now, we have a 35 percent corporate rate on worldwide income and deferral. It is perhaps the most complicated and uncompetitive business rate in the world. Not a surprise that companies leave trillions of dollars offshore.
Under the Trump plan, we will have a massive tax cut for businesses and massive tax reform and simplification. As the President said during the campaign, we will lower the business rate to 15 percent. We will make it a territorial system. We will have a one-time tax on overseas profits, which will bring back trillions of dollars that are offshore to be invested here in the United States to purchase capital and to create jobs.
The President is determined to unleash economic growth for businesses. This is not just about large corporations. Small and medium-size businesses will be eligible for the business rate as well.
As Gary said, we have had very productive meetings with the House and Senate, working weekly, to get this done. We will continue to do that. We are determined to move this as fast as we can and get this done this year.
I would also just comment that we will hold listening sessions. One thing this President has done very well is listen. We've had hundreds of business leaders here from all different types of areas -- manufacturers, retail, airlines, community banks, big banks. We are listening and we have been taking feedback.
Finally, I would just add, the President’s objective is creating economic growth. And as we've said before, we believe we can get back to 3 percent or higher GDP that is sustainable in this country. The overall economic plan consists of massive tax cuts and tax reform, regulatory relief, and renegotiating trade deals. And with that, we will unlock the economic growth that's been held back for too long in this country.
And with that, we’d be both happy to take a few questions.
Q Thank you, Mr. Secretary. When you talk about the individual tax rates you're also talking about eliminating some of the tax breaks. Are you talking about eliminating tax deductions? And which ones are you talking about eliminating, and which ones are you talking about keeping?
SECRETARY MNUCHIN: Correct, we are going to eliminate on the personal side all tax deductions other than mortgage interest and charitable deductions. We think that will be sweeping reform.
Q Thank you, Secretary. When you talk about lowering dividends and capital gains taxes, how does that mesh with what you said this morning about protecting the middle class from the very, very wealthy who might be able to take advantage of -- I don't know a better word than loopholes, but that would give them a lower tax rate?
SECRETARY MNUCHIN: Well, again, what we've said is that the business rate is going to be available for small and medium-size businesses as well as corporations. However, we will make sure that there are rules in place so that wealthy people can't create pass-throughs and use that as a mechanism to avoid paying the tax rate that they should be on the personal side.
And I would just say, on the dividend rate, we believe that restoring the 20 percent capital gains rate is critical to investment in this country.
Q Mr. Secretary, I have a similar question about your pass-throughs. The initial plan that the President as a candidate outlined also included freelance or contract workers in that 15 percent. I'm wondering if that's the same. What’s your rate on repatriation funds overseas?
And, Gary Cohn, what about the marriage penalty? The President promised he would eliminate that.
SECRETARY MNUCHIN: Again, I'd comment on the rate of repatriation. We're working with the House and Senate on that, but I will say it will be a very competitive rate that will bring back trillions of dollars. And as it relates to the definition of contractors and things along those lines, those will be the details we will be working with Congress on as we turn this into a bill that will get signed by the President.
DIRECTOR COHN: So as Secretary Mnuchin said, we are working very diligently with the House and the Senate on coming up with final details of the bill. You're going into very micro-details on some of these --
Q And very important ones.
DIRECTOR COHN: We agree, very important. Our basic premise here is to simplify the tax system, lower rates, and make it easy. We don't want to penalize people. We want to make the system very fair. That is one of the things on our list that we're going to work on, just as Secretary Mnuchin said. We will get back to you with definitive answers on all these details.
Q On the 10, 25, and 35 percent rates, do you have income brackets established that you're going to propose?
DIRECTOR COHN: Again, we are in constant dialogue with the House and the Senate. As the Secretary said, we're holding a bunch of listening groups right now. We have outlines; we have a broad-brush view of where they’re going to be. We're running an enormous amount of data on the proposals right now. We will be back to you with very firm details. We're very confident to where they’re going to be, we just wanted to get out and give you a broad-brush overview where we are.
The President very much believes in taking input, as the Secretary said. Over the next month, we've got a lot of discussions going with a lot of different groups very interested.
Q When you said deductions, does that also mean state and local income taxes being eliminated -- those should be eliminated? And how about healthcare?
DIRECTOR COHN: Yes.
Q How about healthcare?
Q Mr. Secretary, thank you. And, Mr. Cohn, either one of you -- so when you talk about repealing the 3.8 percent Obamacare tax that hits small business and investment income, is this your first attempt -- official first attempt, I guess, with this to start to pulling back on Obamacare? And also, what do you say to your fellow Republicans who say that this tax reform package is more about corporations versus cutting the deficit?
DIRECTOR COHN: This tax reform package is about growing the economy, creating jobs. It's about the economy. As I started, President Trump comes in every day and talks to the two of us about economic growth, economic prosperity, and jobs, and what are we doing to stimulate economic growth. That's how we're looking at this plan.
The 3.8 percent tax on capital gains, dividends and interest -- the President looks at that very seriously as being a tax on capital being spent to stimulate economic growth, people putting investment capital to work, or people being taxed on their personal businesses. So we're trying to get rid of that to be more stimulative, to have capital go back into the economy to create more jobs.
Q So it’s more business than Obamacare -- is it more business than a tax on Obamacare?
DIRECTOR COHN: It's business. It's to stimulate business investment. We are trying to stimulate business investment.
Q So on this, first of all, does it pay for itself? Is this plan revenue-neutral? And secondly, what in here is non-negotiable? When this goes over to Congress, Congress comes back with a 20 percent corporate tax rate or -- will the President refuse to sign that?
SECRETARY MNUCHIN: Well, let me just say again, the core principles of this -- we've been meeting with the House and Senate and they agree a hundred percent. The core business is make business rates competitive, bring back trillions of dollars to create jobs, simplify personal taxes, create a middle-income tax cut. So those core principle are non-negotiable. And that's something that we all feel strongly about.
As it relates to will it pay for itself, again, I think as we've said, we're working on lots of details as to this. We have over 100 people in the Treasury that have been working on tax and scoring lots of different scenarios. This will pay for itself with growth and with reduced -- reduction of different deductions and closing loopholes.
Q Mr. Secretary, if it turns out that congressional estimates, when this has been scored -- if it turns out that it actually won't be paid for by growth, it won't keep deficits in check, is the President comfortable with that? Will he sign something?
SECRETARY MNUCHIN: Well, let me just say again, when we look at the deficits, and the deficit has gone from $10 trillion to $20 trillion in the last administration, that is a problem and the President is concerned about that. This plan is going to lower the debt-to-GDP. The economic plan under Trump will grow the economy and will create massive amounts of revenues, trillions of dollars in additional revenues.
Let’s go in the back.
Q If you don't replace some of the revenue with the border adjustment tax, how will you make up for the deficit caused by the reduction in the corporate tax rate?
SECRETARY MNUCHIN: Well, again, today we're putting out the core principles, which include rates because we think that's a very important part of the plan. We will be working very closely, as I said, with the House and the Senate to turn this into a bill that can be passed and the President can sign. And there’s lots and lots of details that we're going into how that will pay for itself.
Q Mr. Secretary, territorial tax system -- is that a border adjustment tax? Is it tariffs? What is it?
SECRETARY MNUCHIN: A territorial tax system means that U.S. companies will pay income on income related to the U.S. So it's territorial -- U.S. companies would not be subject to worldwide income, which has made them uncompetitive.
Q Are you concerned that perhaps the Republicans might not go along with this just like they didn’t fully go along with the Obamacare repeal --
SECRETARY MNUCHIN: Again, I think that there is a lot of desire from everybody to pass tax reform. As Gary said, we are at an historic moment, and Republicans and Democrats want to create jobs and want to help the American people. And as I said, the core principles of this we have agreement on and we will work forward on the details.
Q Thank you, Mr. Secretary. Quick question. You bring up repeal of the death tax, the estate tax. This is an issue that's been going on for decades. And it used to be they were always talking about phasing out the death tax over a period of years. Groups such as Jim Martin’s 60-Plus Seniors Association said they wouldn't accept it and wanted immediate killing of the death tax. Is that what this is going to be? Or is it going to be a phase-out measure again?
DIRECTOR COHN: Right now our initial proposal is to immediately phase out -- when this proposal becomes effective -- to phase out the death tax immediately.
Q You say “phase” and “immediate.”
DIRECTOR COHN: With the implementation of the new tax, the death tax would disappear.
Q Mr. Secretary, two questions. One, this is obviously a statement of core principles -- it's just one page. Obviously tax reform would be much more complicated. When will we see the details? When will we see the actual plan?
SECRETARY MNUCHIN: We are moving as quickly as we can. So we are working with the House and Senate on all the details. And this is -- everybody has an agreement we are going to move this as fast as we can. And when we have an agreement we will release the details and go through it with all of you.
Q And my second question is, will the President release his tax returns so that --
SECRETARY MNUCHIN: The President has no intention -- the President has released plenty of information and I think has given more financial disclosure than anybody else. I think the American population has plenty of information on this --
Q Mr. Secretary --
Q Mr. Secretary --
Q Don't the American people have a right to know how it will affect -- how this tax reform will affect him personally?
SECRETARY MNUCHIN: Excuse me, other people would like to ask questions.
Q My question is to either you, Mr. Secretary, or to Director Cohn. You mentioned middle-class tax cuts -- middle-class families watching this tonight on the news -- a family of four, median income $60,000, what does it mean for them?
DIRECTOR COHN: It's going to be a tax cut.
Q How much?
DIRECTOR COHN: Going to be a tax cut. You're asking the same question that got asked over here. We will let you know the specific details at the appropriate moment. We are in very robust discussions with the Senate and with the House leadership. They are progressing very quickly. And we will continue to give you more details as we have them.
Q -- exactly a year ago then candidate Trump was asked if he believes in raising taxes on the wealthy. He said, I do, I do, including myself, I do. So my question is, why isn't he doing that? And will the President end up paying more or less taxes as a result of this plan?
SECRETARY MNUCHIN: Let me just comment -- I can't comment on the President’s tax situation since I don't have access to that, okay? But I would comment that our objective, okay, is the reduction in taxes will be offset by significant reduction of deductions in other items so that the effective tax rate is what we're focused on.
Why don't we take one more question right here.
Q You might not have seen the President’s tax returns, but according to our estimations, by his 2005 returns that are out there, getting rid of the alternative minimum tax would save him $5.3 -- he would only have to pay $5.3 million in federal income taxes. So your response to those critics who say a lot of what you presented here today could save the President or benefit his own businesses?
SECRETARY MNUCHIN: Again, let me just comment, what this is about is creating jobs and creating economic growth. And that's what massive tax cuts and massive tax reform and simplifying the system is what we're going to do. The AMT is just another example of a third, complicated set of rules.
Anyway, thank you, everybody. We appreciate you guys being here.
END
MR. SPICER: Never thought so many people would be turning out for the Antiquities Act, but thank you all for being here. Obviously today we're here to talk about the President’s effort to provide tax relief to both our corporations that will help grow jobs, and to middle Americans. Two people here to explain it, the Director of our National Economic Council, Gary Cohn, is going to walk through why we're doing what we're doing and then the personal side of the tax. Then Secretary of the Treasury Steven Mnuchin will walk through the business side and the corporate side of what the President is doing to bring jobs back to this country, to make our businesses more competitive and help our economy grow.
At the end, they’d be glad to take questions on this. You are being provided a one-page right not that provides the top level aspects of the plan. And then both the Director and Secretary will go into further detail and take your questions.
So without any further ado, Director Gary Cohn.
DIRECTOR COHN: Thank you, Sean. And good afternoon, everyone, and thank you for being here. This is quite an historic day for us and one that we've been looking forward to for a long time and one we're very excited about.
We have a once-in-a-generation opportunity to do something really big. President Trump has made tax reform a priority, and we have a Republican Congress that wants to get it done. And this is something that, quite honestly, I hope the Democrats would support, too, because it's good for the American people. The President is going to seize this opportunity by leading the most significant tax reform legislation since 1986, and one of the biggest tax cuts in the American history.
We've been working on this for a long time. We've had great meetings. We had a great meeting last night with the leadership of the House and the Senate. We have agreed on many of the important principles of tax reform. We look forward to working together with the House and the Senate, very closely, in the weeks ahead.
The President has focused on three things since his campaign -- job creation, economic growth, and helping the low- and middle-income families who have been left behind by this economy. He understands there are a lot of people in this country that feel like they work hard and they just cannot get ahead. They are sick of turning their paychecks over to Washington and having no idea of how those dollars are spent. They are frustrated by a tax code that is so complicated they can't even do their own taxes.
That's why tax reform is such a big priority to this President. He cares about making the economy work better for all American people.
Here’s a little history. When President Kennedy cut taxes in early 1960, the top rate of personal income was over 90 percent and there was rampant tax avoidance. And then, 20 years later, President Reagan took rates down to 28 percent for individuals. Since then, rates have been creeping back up and more loopholes and special interest tax breaks have made their way back into the tax code, disadvantaging average Americans.
And then, on the business side, when President Reagan left office in 1988, the corporate tax rate was 34 percent, and it hasn't changed much since. For the last 25 years, other countries have been aggressively cutting their tax rates and moving to a territorial system in order to attract business. And the U.S. has done none of that. In 2017, we are still stuck with a 1988 corporate tax. That's why we're now one of the least competitive countries in the developed world when it comes to corporate tax.
So tax reform is long overdue. We are going to cut taxes for businesses to make them competitive, and we're going to cut taxes for the American people, especially low- and middle-income families.
Today I'm going to outline the principles we have put in place for personal tax reform, and then I'm going to hand it over to Secretary Mnuchin to talk about the business side.
First, here are a few statistics for you on the individual side. In 1935, we had a one-page tax form consisting of 34 lines with two pages of instructions. Today the basic 1040 form has 79 lines and 211 pages of instructions. Instead of a single form, the IRS now has 199 tax forms on the individual side of our tax code. Taxpayers spend nearly 7 billion hours complying with these tax codes every year. And nearly 90 percent of taxpayers need some help in filing their taxes.
We are going to cut taxes and simplify the tax code by taking the current seven tax brackets we have today and reducing them to only three brackets -- a 10 percent bracket, a 25 percent bracket, and a 35 percent bracket. We're going to double the standard deduction so that a married couple won't pay any taxes on the first $24,000 of income they earn. So, in essence, we are creating a zero tax rate -- yes, a zero tax rate -- for the first $24,000 that a couple earns.
The largest standard deduction also leads to simplification because far fewer taxpayers will need to itemize, which means their tax form can go back -- yes -- to that one simple page that I talked about earlier.
Families in this country will also benefit from tax relief to help them with child and dependent care expenses. We are going to repeal the alternative minimum tax. The AMT creates significant complications and burdens which require taxpayers to do their taxes twice to see which is higher. That makes no sense, and we should have one simple tax code.
As we all know, job creation and economic growth is the top priority of the administration. Nothing drives economic growth like capital investment. Therefore, we are going to return the top capital gains tax rate and dividend rate to 20 percent, repealing the harmful 3.8 percent Obamacare tax on dividends and capital gains. That tax has been a direct hit on investment income and small business owners.
We're going to repeal the death tax. The threat of being hit by the death tax leaves small business owners and farmers in this country to waste countless hours and resources on complicated estate planning to make sure their children aren't hit with a huge tax when they die. No one wants to see their children have to sell the family business to pay an unfair tax.
We're going to eliminate most of the tax breaks that are mainly benefits to high-income individuals. Homeownership, charitable giving and retirement savings will be protected. But other tax benefits will be eliminated.
This isn't going to be easy. Doing big things never is. We will be attacked from the left and we will be attacked from the right. But one thing is certain: I would never, ever bet against this President. He will get this done for the American people.
With that, I'm going to turn it over to Secretary Mnuchin to go through the business tax plan, and then we will both come back and take some questions.
SECRETARY MNUCHIN: Thank you, Gary.
So as Gary said, we've been working on this plan for a very considerable period of time. And our objective is to make U.S. businesses the most competitive in the world. Right now, we have a 35 percent corporate rate on worldwide income and deferral. It is perhaps the most complicated and uncompetitive business rate in the world. Not a surprise that companies leave trillions of dollars offshore.
Under the Trump plan, we will have a massive tax cut for businesses and massive tax reform and simplification. As the President said during the campaign, we will lower the business rate to 15 percent. We will make it a territorial system. We will have a one-time tax on overseas profits, which will bring back trillions of dollars that are offshore to be invested here in the United States to purchase capital and to create jobs.
The President is determined to unleash economic growth for businesses. This is not just about large corporations. Small and medium-size businesses will be eligible for the business rate as well.
As Gary said, we have had very productive meetings with the House and Senate, working weekly, to get this done. We will continue to do that. We are determined to move this as fast as we can and get this done this year.
I would also just comment that we will hold listening sessions. One thing this President has done very well is listen. We've had hundreds of business leaders here from all different types of areas -- manufacturers, retail, airlines, community banks, big banks. We are listening and we have been taking feedback.
Finally, I would just add, the President’s objective is creating economic growth. And as we've said before, we believe we can get back to 3 percent or higher GDP that is sustainable in this country. The overall economic plan consists of massive tax cuts and tax reform, regulatory relief, and renegotiating trade deals. And with that, we will unlock the economic growth that's been held back for too long in this country.
And with that, we’d be both happy to take a few questions.
Q Thank you, Mr. Secretary. When you talk about the individual tax rates you're also talking about eliminating some of the tax breaks. Are you talking about eliminating tax deductions? And which ones are you talking about eliminating, and which ones are you talking about keeping?
SECRETARY MNUCHIN: Correct, we are going to eliminate on the personal side all tax deductions other than mortgage interest and charitable deductions. We think that will be sweeping reform.
Q Thank you, Secretary. When you talk about lowering dividends and capital gains taxes, how does that mesh with what you said this morning about protecting the middle class from the very, very wealthy who might be able to take advantage of -- I don't know a better word than loopholes, but that would give them a lower tax rate?
SECRETARY MNUCHIN: Well, again, what we've said is that the business rate is going to be available for small and medium-size businesses as well as corporations. However, we will make sure that there are rules in place so that wealthy people can't create pass-throughs and use that as a mechanism to avoid paying the tax rate that they should be on the personal side.
And I would just say, on the dividend rate, we believe that restoring the 20 percent capital gains rate is critical to investment in this country.
Q Mr. Secretary, I have a similar question about your pass-throughs. The initial plan that the President as a candidate outlined also included freelance or contract workers in that 15 percent. I'm wondering if that's the same. What’s your rate on repatriation funds overseas?
And, Gary Cohn, what about the marriage penalty? The President promised he would eliminate that.
SECRETARY MNUCHIN: Again, I'd comment on the rate of repatriation. We're working with the House and Senate on that, but I will say it will be a very competitive rate that will bring back trillions of dollars. And as it relates to the definition of contractors and things along those lines, those will be the details we will be working with Congress on as we turn this into a bill that will get signed by the President.
DIRECTOR COHN: So as Secretary Mnuchin said, we are working very diligently with the House and the Senate on coming up with final details of the bill. You're going into very micro-details on some of these --
Q And very important ones.
DIRECTOR COHN: We agree, very important. Our basic premise here is to simplify the tax system, lower rates, and make it easy. We don't want to penalize people. We want to make the system very fair. That is one of the things on our list that we're going to work on, just as Secretary Mnuchin said. We will get back to you with definitive answers on all these details.
Q On the 10, 25, and 35 percent rates, do you have income brackets established that you're going to propose?
DIRECTOR COHN: Again, we are in constant dialogue with the House and the Senate. As the Secretary said, we're holding a bunch of listening groups right now. We have outlines; we have a broad-brush view of where they’re going to be. We're running an enormous amount of data on the proposals right now. We will be back to you with very firm details. We're very confident to where they’re going to be, we just wanted to get out and give you a broad-brush overview where we are.
The President very much believes in taking input, as the Secretary said. Over the next month, we've got a lot of discussions going with a lot of different groups very interested.
Q When you said deductions, does that also mean state and local income taxes being eliminated -- those should be eliminated? And how about healthcare?
DIRECTOR COHN: Yes.
Q How about healthcare?
Q Mr. Secretary, thank you. And, Mr. Cohn, either one of you -- so when you talk about repealing the 3.8 percent Obamacare tax that hits small business and investment income, is this your first attempt -- official first attempt, I guess, with this to start to pulling back on Obamacare? And also, what do you say to your fellow Republicans who say that this tax reform package is more about corporations versus cutting the deficit?
DIRECTOR COHN: This tax reform package is about growing the economy, creating jobs. It's about the economy. As I started, President Trump comes in every day and talks to the two of us about economic growth, economic prosperity, and jobs, and what are we doing to stimulate economic growth. That's how we're looking at this plan.
The 3.8 percent tax on capital gains, dividends and interest -- the President looks at that very seriously as being a tax on capital being spent to stimulate economic growth, people putting investment capital to work, or people being taxed on their personal businesses. So we're trying to get rid of that to be more stimulative, to have capital go back into the economy to create more jobs.
Q So it’s more business than Obamacare -- is it more business than a tax on Obamacare?
DIRECTOR COHN: It's business. It's to stimulate business investment. We are trying to stimulate business investment.
Q So on this, first of all, does it pay for itself? Is this plan revenue-neutral? And secondly, what in here is non-negotiable? When this goes over to Congress, Congress comes back with a 20 percent corporate tax rate or -- will the President refuse to sign that?
SECRETARY MNUCHIN: Well, let me just say again, the core principles of this -- we've been meeting with the House and Senate and they agree a hundred percent. The core business is make business rates competitive, bring back trillions of dollars to create jobs, simplify personal taxes, create a middle-income tax cut. So those core principle are non-negotiable. And that's something that we all feel strongly about.
As it relates to will it pay for itself, again, I think as we've said, we're working on lots of details as to this. We have over 100 people in the Treasury that have been working on tax and scoring lots of different scenarios. This will pay for itself with growth and with reduced -- reduction of different deductions and closing loopholes.
Q Mr. Secretary, if it turns out that congressional estimates, when this has been scored -- if it turns out that it actually won't be paid for by growth, it won't keep deficits in check, is the President comfortable with that? Will he sign something?
SECRETARY MNUCHIN: Well, let me just say again, when we look at the deficits, and the deficit has gone from $10 trillion to $20 trillion in the last administration, that is a problem and the President is concerned about that. This plan is going to lower the debt-to-GDP. The economic plan under Trump will grow the economy and will create massive amounts of revenues, trillions of dollars in additional revenues.
Let’s go in the back.
Q If you don't replace some of the revenue with the border adjustment tax, how will you make up for the deficit caused by the reduction in the corporate tax rate?
SECRETARY MNUCHIN: Well, again, today we're putting out the core principles, which include rates because we think that's a very important part of the plan. We will be working very closely, as I said, with the House and the Senate to turn this into a bill that can be passed and the President can sign. And there’s lots and lots of details that we're going into how that will pay for itself.
Q Mr. Secretary, territorial tax system -- is that a border adjustment tax? Is it tariffs? What is it?
SECRETARY MNUCHIN: A territorial tax system means that U.S. companies will pay income on income related to the U.S. So it's territorial -- U.S. companies would not be subject to worldwide income, which has made them uncompetitive.
Q Are you concerned that perhaps the Republicans might not go along with this just like they didn’t fully go along with the Obamacare repeal --
SECRETARY MNUCHIN: Again, I think that there is a lot of desire from everybody to pass tax reform. As Gary said, we are at an historic moment, and Republicans and Democrats want to create jobs and want to help the American people. And as I said, the core principles of this we have agreement on and we will work forward on the details.
Q Thank you, Mr. Secretary. Quick question. You bring up repeal of the death tax, the estate tax. This is an issue that's been going on for decades. And it used to be they were always talking about phasing out the death tax over a period of years. Groups such as Jim Martin’s 60-Plus Seniors Association said they wouldn't accept it and wanted immediate killing of the death tax. Is that what this is going to be? Or is it going to be a phase-out measure again?
DIRECTOR COHN: Right now our initial proposal is to immediately phase out -- when this proposal becomes effective -- to phase out the death tax immediately.
Q You say “phase” and “immediate.”
DIRECTOR COHN: With the implementation of the new tax, the death tax would disappear.
Q Mr. Secretary, two questions. One, this is obviously a statement of core principles -- it's just one page. Obviously tax reform would be much more complicated. When will we see the details? When will we see the actual plan?
SECRETARY MNUCHIN: We are moving as quickly as we can. So we are working with the House and Senate on all the details. And this is -- everybody has an agreement we are going to move this as fast as we can. And when we have an agreement we will release the details and go through it with all of you.
Q And my second question is, will the President release his tax returns so that --
SECRETARY MNUCHIN: The President has no intention -- the President has released plenty of information and I think has given more financial disclosure than anybody else. I think the American population has plenty of information on this --
Q Mr. Secretary --
Q Mr. Secretary --
Q Don't the American people have a right to know how it will affect -- how this tax reform will affect him personally?
SECRETARY MNUCHIN: Excuse me, other people would like to ask questions.
Q My question is to either you, Mr. Secretary, or to Director Cohn. You mentioned middle-class tax cuts -- middle-class families watching this tonight on the news -- a family of four, median income $60,000, what does it mean for them?
DIRECTOR COHN: It's going to be a tax cut.
Q How much?
DIRECTOR COHN: Going to be a tax cut. You're asking the same question that got asked over here. We will let you know the specific details at the appropriate moment. We are in very robust discussions with the Senate and with the House leadership. They are progressing very quickly. And we will continue to give you more details as we have them.
Q -- exactly a year ago then candidate Trump was asked if he believes in raising taxes on the wealthy. He said, I do, I do, including myself, I do. So my question is, why isn't he doing that? And will the President end up paying more or less taxes as a result of this plan?
SECRETARY MNUCHIN: Let me just comment -- I can't comment on the President’s tax situation since I don't have access to that, okay? But I would comment that our objective, okay, is the reduction in taxes will be offset by significant reduction of deductions in other items so that the effective tax rate is what we're focused on.
Why don't we take one more question right here.
Q You might not have seen the President’s tax returns, but according to our estimations, by his 2005 returns that are out there, getting rid of the alternative minimum tax would save him $5.3 -- he would only have to pay $5.3 million in federal income taxes. So your response to those critics who say a lot of what you presented here today could save the President or benefit his own businesses?
SECRETARY MNUCHIN: Again, let me just comment, what this is about is creating jobs and creating economic growth. And that's what massive tax cuts and massive tax reform and simplifying the system is what we're going to do. The AMT is just another example of a third, complicated set of rules.
Anyway, thank you, everybody. We appreciate you guys being here.
END
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MarketWatch
European stocks fell Thursday, losing ground for the first time in seven sessions as Deutsche Bank AG was dragged lower after its earnings report, and declining ahead of the European Central Bank’s policy announcement. Read the full story
Nikkei pares losses as BOJ takes an upbeat tone
MarketWatch
Asian markets turned higher Thursday and Japanese shares pared losses after the Bank of Japan indicated that it is unlikely to move away from easy-money policies. Read the full story
CURRENCIES
Forex - Dollar higher against yen, Canadian dollar, Mexican peso jumpInvesting.com
© Reuters. Dollar higher against yen, Canadian dollar, Mexican peso jump Read the full story
Pound to Euro exchange rate: Sterling RALLIES after poor performance this week
Express
POUND Sterling has rallied back to 1.18 against the Euro after a disappointing performance this week so far. Sterling is now at 1.18254 after dipping down to 1.1735 this week. The pound is improving after turbulent reactions to the ongoing French elections, which have seen Nation Front’s Marine Le Pen coming head to head with centrist Emmanuel Macron. The Pound will experience a bumpy week ahead against the Euro as the French elections will not be completed until Sunday 7th May. Read the full story
Mexican peso, Canadian loonie gain after Trump administration backs down on Nafta
MarketWatch
The Mexican peso and Canadian dollar advance against the U.S. dollar on Thursday, after the Trump administration backed away from threats to abandon the North American Free Trade Agreement. Read the full story
NZ dollar rises from four-month low
Scoop
NZ dollar rises from four-month low as Trump agrees to put off axing Nafta Read the full story
Rupee strengthens against US dollar for fourth session
Livemint
Mumbai: The Indian rupee on Thursday strengthened for the fourth consecutive session against the US dollar after foreign investors continued to buy in local equity and debt markets. Read the full story
Nikkei pares losses as BOJ takes an upbeat tone
MarketWatch
MarketWatch
Asian markets turned higher Thursday and Japanese shares pared losses after the Bank of Japan indicated that it is unlikely to move away from easy-money policies. Read the full story
CURRENCIES
Forex - Dollar higher against yen, Canadian dollar, Mexican peso jumpInvesting.com
© Reuters. Dollar higher against yen, Canadian dollar, Mexican peso jump Read the full story
Pound to Euro exchange rate: Sterling RALLIES after poor performance this week
Express
Express
POUND Sterling has rallied back to 1.18 against the Euro after a disappointing performance this week so far. Sterling is now at 1.18254 after dipping down to 1.1735 this week. The pound is improving after turbulent reactions to the ongoing French elections, which have seen Nation Front’s Marine Le Pen coming head to head with centrist Emmanuel Macron. The Pound will experience a bumpy week ahead against the Euro as the French elections will not be completed until Sunday 7th May. Read the full story
Mexican peso, Canadian loonie gain after Trump administration backs down on Nafta
MarketWatch
MarketWatch
The Mexican peso and Canadian dollar advance against the U.S. dollar on Thursday, after the Trump administration backed away from threats to abandon the North American Free Trade Agreement. Read the full story
NZ dollar rises from four-month low
Scoop
Scoop
NZ dollar rises from four-month low as Trump agrees to put off axing Nafta Read the full story
Rupee strengthens against US dollar for fourth session
Livemint
Livemint
Mumbai: The Indian rupee on Thursday strengthened for the fourth consecutive session against the US dollar after foreign investors continued to buy in local equity and debt markets. Read the full story
PBOC sets yuan parity rate at 6.8896 against dollarInvesting.com
© Reuters. Yuan parity Read the full story
USA
These are the 5 U.S. companies with the biggest overseas cash piles
MarketWatch
President Donald Trump’s tax reform proposal has not yet determined a rate for repatriation, but promises a one-time break that will bring trillions of dollars back home. Read the full story
North Korea threat: Top admiral calls on more missile interceptors in Hawaii
Fox News
The U.S. should look into strengthening its missile defenses around Hawaii due to the increased threats from North Korea, Adm. Harry Harris, the top U.S. commander in the Pacific, told the House Armed Services Committee Wednesday. Read the full story
Congress to vote on short-term funding bill to avert government shutdown
USA TODAY
The bill would fund the government through May 5 to give lawmakers more time to negotiate. Read the full story
Mnuchin: Trump's tax plan is a 'middle-income tax cut'
Fox News
Treasury Secretary Steve Mnuchin told Fox News' "Tucker Carlson Tonight" that President Trump's tax reform plan would amount to a "middle-income tax cut" and would "make business competitive." Read the full story
PBOC sets yuan parity rate at 6.8896 against dollarInvesting.com
© Reuters. Yuan parity Read the full story
USA
These are the 5 U.S. companies with the biggest overseas cash piles
MarketWatch
MarketWatch
President Donald Trump’s tax reform proposal has not yet determined a rate for repatriation, but promises a one-time break that will bring trillions of dollars back home. Read the full story
North Korea threat: Top admiral calls on more missile interceptors in Hawaii
Fox News
Fox News
The U.S. should look into strengthening its missile defenses around Hawaii due to the increased threats from North Korea, Adm. Harry Harris, the top U.S. commander in the Pacific, told the House Armed Services Committee Wednesday. Read the full story
Congress to vote on short-term funding bill to avert government shutdown
USA TODAY
USA TODAY
The bill would fund the government through May 5 to give lawmakers more time to negotiate. Read the full story
Mnuchin: Trump's tax plan is a 'middle-income tax cut'
Fox News
Fox News
Treasury Secretary Steve Mnuchin told Fox News' "Tucker Carlson Tonight" that President Trump's tax reform plan would amount to a "middle-income tax cut" and would "make business competitive." Read the full story
EMERGING MARKETS
12 Emerging Market Headlines: Earnings, Oil & Risk
Barron's
Barron's
Emerging Markets Daily Here are some headlines we are following from emerging market companies, with the iShares MSCI Emerging Markets exchange-traded fund (EEM) down 0.4% Wednesday: S&P Global affirmed its triple-B rating on Brazilian aircraft manufacturer Embraer (ERJ), with a negative outlook, saying that a weaker delivery pipeline through in 2018, the rollout of two new aircraft and still challenging executive aviation market conditions will weigh on the company, but S&P said "given the Read the full story
MIDDLE EAST
Exchangers Urged to Quit Banking Operations
Financial Tribune
The Central bank of Iran is determined to navigate moneychangers back to their original activities and leave banking operations to banks, said the head of the Department for Banking Supervision at CBI. "For a period of time, due to certain reasons, we had to transfer money overseas through the... Read the full story
Key to Mideast Peace May Lurk Within the Economy
Bloomberg
Israel's economy is so innovative that it's forcing otherwise hostile Arab neighbors to look at ways they could also benefit -- and the result could eventually be a gradual normalization of relations, if all continues to go smoothly. One example: trade and collaboration in technology and intelligence are flourishing below the radar between Israel and a host of Arab states. Sure, there are a lot of caveats, and whether this will affect relations with Palestinians or Iran is another question, but Read the full story
Trump gives Pentagon power to reset Iraq, Syria troop limits
Reuters
President Donald Trump has given the military the authority to reset a confusing system of troop limits in Iraq and Syria that critics said allowed the White House to micro-manage battlefield decisions and ultimately obscured the real number of U.S. forces. Read the full story
MIDDLE EAST
Exchangers Urged to Quit Banking Operations
Financial Tribune
Financial Tribune
The Central bank of Iran is determined to navigate moneychangers back to their original activities and leave banking operations to banks, said the head of the Department for Banking Supervision at CBI. "For a period of time, due to certain reasons, we had to transfer money overseas through the... Read the full story
Key to Mideast Peace May Lurk Within the Economy
Bloomberg
Bloomberg
Israel's economy is so innovative that it's forcing otherwise hostile Arab neighbors to look at ways they could also benefit -- and the result could eventually be a gradual normalization of relations, if all continues to go smoothly. One example: trade and collaboration in technology and intelligence are flourishing below the radar between Israel and a host of Arab states. Sure, there are a lot of caveats, and whether this will affect relations with Palestinians or Iran is another question, but Read the full story
Trump gives Pentagon power to reset Iraq, Syria troop limits
Reuters
Reuters
President Donald Trump has given the military the authority to reset a confusing system of troop limits in Iraq and Syria that critics said allowed the White House to micro-manage battlefield decisions and ultimately obscured the real number of U.S. forces. Read the full story
AFRICA
AFRICA
Zimbabwe: Largest Platinum Miner Reports 529% Profit Jump
AllAfrica
AllAfrica
The country's largest platinum miner, Zimbabwe Platinum Holdings (Zimplats) has reported a 529 percent jump in profit-after-tax of $42 million in the quarter to March 31, 2017 from $6 million in the prior comparable period on the back of improved metal prices. There was a general upturn in the average prices of platinum, palladium, gold and rhodium (4E metals) during the period under review. Platinum prices rose 7 percent to $981 per ounce compared $914 realised in the same quarter in the prior Read the full story
Zimbabwe: Import Bill Reduced By U.S.$1 Billion
AllAfrica
AllAfrica
Nduduzo Tshuma Zimbabwe has reduced its import bill by $1 billion since the enactment of Statutory Instrument 64 of 2016, which restricts the importation of locally available products, Vice President Emmerson Mnangagwa has said. Officially opening the Zimbabwe International Trade Fair (ZITF) International Business Conference here yesterday, VP Mnangagwa said Government was working on long-term measures to complement SI64 to boost production and accelerate economic recovery. He said SI64, which Read the full story
Why Africa is Due to Import U.S.$110 Billion Food By 2025
AllAfrica
Why Africa is Due to Import U.S.$110 Billion Food By 2025 It is unreasonable that the African continent has the potential to feed itself and even to have surplus food to export to other parts of the world, but instead, the continent imports U.S.$35 billion worth of food and agricultural products every year, a Africa: So Why Are We Due to Import U.S.$110 Billion Worth of Food Annually By 2025? Africa: Experts Urge African Nations to Increase Science Funding Read the full story
One South African gold miner unveils a never-before attempted plan to deal with illegal mining at its operations
Business Insider UK
Reuters/Mike Hutchings Small-scale mining is a growing issue across Africa. With regulators in Ghana this week making their first moves to shut down artisanal operations — part of an emerging campaign against environmental damage. And in Africa’s top gold-producing nation, South Africa, things are getting even more serious. With one of the country’s top miners unveiling a never-before attempted strategy to deal with informal and illegal gold mining at its operations. That’s Sibanye Gold. Which Read the full story
ASIA
Opinion | Singapore Banks' Hong Kong Envy
Bloomberg
Stable oil prices are fine, and a recovery in the Baltic Dry Index can't hurt. But seriously, how long can Singapore's banks remain hostages of the island's shipping and offshore marine services industry? That question is bound to be asked as another earnings season comes burdened with a high-profile bankruptcy. Ezra Holdings Ltd., the Singapore-listed offshore services group that sought protection from creditors in the U.S. last month, counts DBS Group Holdings Ltd. and Oversea-Chinese Banking Read the full story
China's Billionaire Boom Is Picking Up Pace
Investopedia
China accounted for the majority of newly-minted billionaires during the last three years, with the highest ratio of female billionaires in the world. Read the full story
Asian equities close mostly higher with focus Trump tax plan; Samsung surges 2.4%
CNBC
Markets in Asia finished Thursday trade mostly higher despite the lower close on Wall Street due to the lack of detail in Trump's tax plans. Read the full story
Why Africa is Due to Import U.S.$110 Billion Food By 2025
AllAfrica
AllAfrica
Why Africa is Due to Import U.S.$110 Billion Food By 2025 It is unreasonable that the African continent has the potential to feed itself and even to have surplus food to export to other parts of the world, but instead, the continent imports U.S.$35 billion worth of food and agricultural products every year, a Africa: So Why Are We Due to Import U.S.$110 Billion Worth of Food Annually By 2025? Africa: Experts Urge African Nations to Increase Science Funding Read the full story
One South African gold miner unveils a never-before attempted plan to deal with illegal mining at its operations
Business Insider UK
Business Insider UK
Reuters/Mike Hutchings Small-scale mining is a growing issue across Africa. With regulators in Ghana this week making their first moves to shut down artisanal operations — part of an emerging campaign against environmental damage. And in Africa’s top gold-producing nation, South Africa, things are getting even more serious. With one of the country’s top miners unveiling a never-before attempted strategy to deal with informal and illegal gold mining at its operations. That’s Sibanye Gold. Which Read the full story
ASIA
Opinion | Singapore Banks' Hong Kong Envy
Bloomberg
Bloomberg
Stable oil prices are fine, and a recovery in the Baltic Dry Index can't hurt. But seriously, how long can Singapore's banks remain hostages of the island's shipping and offshore marine services industry? That question is bound to be asked as another earnings season comes burdened with a high-profile bankruptcy. Ezra Holdings Ltd., the Singapore-listed offshore services group that sought protection from creditors in the U.S. last month, counts DBS Group Holdings Ltd. and Oversea-Chinese Banking Read the full story
China's Billionaire Boom Is Picking Up Pace
Investopedia
Investopedia
China accounted for the majority of newly-minted billionaires during the last three years, with the highest ratio of female billionaires in the world. Read the full story
Asian equities close mostly higher with focus Trump tax plan; Samsung surges 2.4%
CNBC
CNBC
Markets in Asia finished Thursday trade mostly higher despite the lower close on Wall Street due to the lack of detail in Trump's tax plans. Read the full story
Blessed and Highly Favored:
CBI Update:
The CBI is closed on Friday and Saturday
ISX Update:
The ISX is closed on Friday and Saturday
The Central Bank warns against trading "fake foreign papers" and calls for their follow-up
Warned the Central Bank of Iraq on Thursday, the existence of foreign securities fake, traded among the weak souls, denying the Iraqi banks deal with these securities.
The Central Bank said in a statement, received "The Journal News" a copy of it, "The Central Bank and in recent years note the circulation of foreign currency to some countries, some real and rolling, and some drawn from circulation."
He added that "some foreign papers counterfeit, by some weak people out of the law, for the purpose of fraud and fraud on citizens by soliciting to replace the Iraqi dinar much more than the real value."
He pointed out that "the weak souls use pretexts and allegations that the replacement of money is a huge gains and rare opportunities for investment."
He explained that "some of these papers may be convertible according to the instructions in force, but the banks operating in Iraq as well as the Central Bank of Iraq do not deal with them."
The Central Bank of Iraq called on "the public and the security and regulatory authorities to follow up these matters and not deal with those banknotes," stressing "the need to focus on the Iraqi banknotes and those dealt with by the Central Bank of Iraq and the banking system to avoid falling into the trap of outlaws.
The Integrity Commission revealed, earlier in the year, the imposition of fines estimated at 245 billion dinars by the Central Bank of Iraq on private banks in violation of the provisions of the currency auction, where two members of the Parliamentary Integrity Committee, the volume of money that was smuggled through the sale auction The currency by the private banks with false invoices equivalent to Iraq's budget for a year or two.
Kauaihn Chatter:
4-28-2017 Intel Guru Bruce They have electricity on all over the country. It means they can have ATMS powered up, and banks online. They have a whole new financial system. It has been completely redone. That financial system probably be announced also. Also new members in the world trade organization. There is quite a bit happening around the sovereignty and redenomination of Iraq and liberation of Mosul. That pre-taped audio and video announcement they made Tuesday will be aired on Saturday in the Mosque in the morning. That is positive for us. We have been looking for something like that for awhile. It will put them back as an international player. We know the rates we talked about before, and their rates continue to go up. This dinar is going to be an amazing currency by about May 5. I am excited. We are right where we need to be. I have every reason to believe it will be between now and the weekend. Intel is telling us we are right here. [post 2 of 2]
4-28-2017 Intel Guru Bruce Tuesday we told you we were in a place for this to go at any moment. I have to tell you that tonight is even more so that way. The information I have gotten today is pointing to the immediateness of it. Iraq had to take back Mosul, but has not really announced it openly. Tuesday Prime Minister Abadi did an audio and video recording of an announcement that should be aired on Saturday. We expect an announcement made about Iraq. This would include the liberation of Mosul, the sovereignty aspect of Iraq, and include the language like redenomination of their currency. We know the terms revaluation, reinstatement, and the terms RV and RI we have used years and years. The term redenomination is going to be utilized because it means there are lower denominations that are in play and are out. Those should be at the bank and the ATMS and ready to go if they are not already out. We thought that would be the final step for Iraq when they had the lower denominations without the 3 zeros on them, we thought it is GO time and expect an announcement with that affect. [post 1 of 2....stay tuned]
4-28-2017 Intel Guru Bruce Tuesday we told you we were in a place for this to go at any moment. I have to tell you that tonight is even more so that way. The information I have gotten today is pointing to the immediateness of it. Iraq had to take back Mosul, but has not really announced it openly. Tuesday Prime Minister Abadi did an audio and video recording of an announcement that should be aired on Saturday. We expect an announcement made about Iraq. This would include the liberation of Mosul, the sovereignty aspect of Iraq, and include the language like redenomination of their currency. We know the terms revaluation, reinstatement, and the terms RV and RI we have used years and years. The term redenomination is going to be utilized because it means there are lower denominations that are in play and are out. Those should be at the bank and the ATMS and ready to go if they are not already out. We thought that would be the final step for Iraq when they had the lower denominations without the 3 zeros on them, we thought it is GO time and expect an announcement with that affect. [post 1 of 2....stay tuned]
4-27-2017 Intel Guru Frank26 today the article came out...“the public works of Iraq are now going to provide 24 hour electricity...and offer it at a reasonable price.” ...at a reasonable price? Right now, it’s outrageous. They are now starting to tell the citizens... you will have electricity 24/7. There is one more thing that is VERY powerful about this 24/7 electricity. In order for the RV to occur...you need electricity 24 hours a day to run their banks. 24/7...at reasonable prices? I have a feeling that the ATM machines are about to be lit-up!Don’t you? The progress of the process is in FULL-SWING! These are monstrous INSIDE of Iraq! The rate is dropping in Iraq. Inflation is super low. This is no longer a COMPETITION ...this is the monetary reform in process. This rate is dropping FAST...even WITHOUT Mosul. The IMF DEMANDS that the reforms happen now! They’re DOING IT! [post 2 of 2]
4-27-2017 Intel Guru Frank26 The IMF recently said...they are optimistic to go beyond Iraq’s financial crisis. They are DEMANDING the reforms. Do you remember on Monday, they came out and showed you 1,000 to 1... When that article came out...rapid fire articles came out...airline prices, cell phone rates, bread prices...all dropped....a NEW PAY SCALE came about … 1,000 to 1. Yesterday, my Teams and I celebrated privately...Because we saw another example of the IQD exchange rate going down INSIDE of IRAQ ONLY. Did you see the cell phone prices go down outside of Iraq? How about airline tickets? What about bread? No. INSIDE OF IRAQ...we told you..this was the time period where the citizens would no longer be paid with USD...but only IQD’s. Is the IMF happy with that? Of course. [post 1 of 2....stay tuned]
4-27-2017 Intel Guru RayRen98 Initially, PM Abadi allegedly said he would announce Mosul at Arab summit on March 30, which didn't happen. He then moved it out two weeks, which accordingly didn't happen. Then April 30 was the selected date according to articles and etc.Now, on Iraqi TV May 5-6 is being projected. Time will tell. The price of goods and services are still dropping daily.
4-27-2017 Newshound Guru Aggiedad77 Article: "A Kuwaiti grant to Iraq to support the survey areas affected by terrorism file" ...if Iraq owed Kuwait money in the neighborhood of $5 billion USD still...why on this earth would Kuwait be willing to offer them a grant to the tune of $100 million USD...They must "know" of something big to come...and they speak here to future cooperative efforts as well...the ties that bind are growing tighter it would seem.
4-27-2017 Intel Guru Delta URGENT FROM IRAQI TV: "Haider al-Abadi will announce the liberation of Mosul completely...Saturday"
4-27-2017 Newshound Guru Kaperoni Article: "Baghdad embraces a global financial conference next month" Quote: "Iraq is in dire need to reduce the gap between the Iraqi and international banks, and after the association adopted a training program periodically targeting workers in banks , public and private sectors , and managed to create efficiencies able to advanced systems management, pointing that banking technology conference complements these efforts." That's 3-4 banking conferences from April to May.
4-27-2017 Newshound Guru Adam Montana No HCL. That doesn't change the most important part of this whole thing! The most ridiculous thing about Iraq is that they have the ability to RV, and...and when they do, %$@* is going to hit the fan. You know who will benefit the most, right? I don't need to say it. The smart people are already there.
4-27-2017 Intel Guru Frank26 The IMF recently said...they are optimistic to go beyond Iraq’s financial crisis. They are DEMANDING the reforms. Do you remember on Monday, they came out and showed you 1,000 to 1... When that article came out...rapid fire articles came out...airline prices, cell phone rates, bread prices...all dropped....a NEW PAY SCALE came about … 1,000 to 1. Yesterday, my Teams and I celebrated privately...Because we saw another example of the IQD exchange rate going down INSIDE of IRAQ ONLY. Did you see the cell phone prices go down outside of Iraq? How about airline tickets? What about bread? No. INSIDE OF IRAQ...we told you..this was the time period where the citizens would no longer be paid with USD...but only IQD’s. Is the IMF happy with that? Of course. [post 1 of 2....stay tuned]
4-27-2017 Intel Guru RayRen98 Initially, PM Abadi allegedly said he would announce Mosul at Arab summit on March 30, which didn't happen. He then moved it out two weeks, which accordingly didn't happen. Then April 30 was the selected date according to articles and etc.Now, on Iraqi TV May 5-6 is being projected. Time will tell. The price of goods and services are still dropping daily.
4-27-2017 Newshound Guru Aggiedad77 Article: "A Kuwaiti grant to Iraq to support the survey areas affected by terrorism file" ...if Iraq owed Kuwait money in the neighborhood of $5 billion USD still...why on this earth would Kuwait be willing to offer them a grant to the tune of $100 million USD...They must "know" of something big to come...and they speak here to future cooperative efforts as well...the ties that bind are growing tighter it would seem.
4-27-2017 Intel Guru Delta URGENT FROM IRAQI TV: "Haider al-Abadi will announce the liberation of Mosul completely...Saturday"
4-27-2017 Newshound Guru Kaperoni Article: "Baghdad embraces a global financial conference next month" Quote: "Iraq is in dire need to reduce the gap between the Iraqi and international banks, and after the association adopted a training program periodically targeting workers in banks , public and private sectors , and managed to create efficiencies able to advanced systems management, pointing that banking technology conference complements these efforts." That's 3-4 banking conferences from April to May.
4-27-2017 Newshound Guru Adam Montana No HCL. That doesn't change the most important part of this whole thing! The most ridiculous thing about Iraq is that they have the ability to RV, and...and when they do, %$@* is going to hit the fan. You know who will benefit the most, right? I don't need to say it. The smart people are already there.
Elmer:
Not in today
Artmeister:
Not in today
Catnip:
ARTICLE 1 (from PM Abadi's website; posted only on Arabic side, not posted on English side)
Prime Minister Dr. Haider Al-Abadi chairs a meeting of the ministerial energy committee
Prime Minister Dr. Haider al-Abadi on Thursday chaired a meeting of the ministerial energy committee.
The discussion of the Ministry of Electricity's assignments of service and collection contracts for the energy distribution sector was completed to provide 24 hours of electricity to citizens via smart meters.
They also discussed the maintenance of the electricity production for the summer season 2017 and take measures and decisions to ensure the maintenance.
The committee discussed the installation and installation of a gas tanker pipeline, in addition to activating the contract of the power station of Al-Azim hydroelectric power station and the recommendations of the workshop on renewable energy projects.
A decision was taken on the rehabilitation of the Qayyara gas station project as well as the request of the Ministry of Electricity to refer the electrical industries company to the processing of 33132 secondary stations in 34 stations.
A number of other topics on the agenda were also discussed.
Prime Minister's Media Office
April 27, 2017
The discussion of the Ministry of Electricity's assignments of service and collection contracts for the energy distribution sector was completed to provide 24 hours of electricity to citizens via smart meters.
They also discussed the maintenance of the electricity production for the summer season 2017 and take measures and decisions to ensure the maintenance.
The committee discussed the installation and installation of a gas tanker pipeline, in addition to activating the contract of the power station of Al-Azim hydroelectric power station and the recommendations of the workshop on renewable energy projects.
A decision was taken on the rehabilitation of the Qayyara gas station project as well as the request of the Ministry of Electricity to refer the electrical industries company to the processing of 33132 secondary stations in 34 stations.
A number of other topics on the agenda were also discussed.
Prime Minister's Media Office
April 27, 2017
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ARTICLE 2
Sistani: Tomorrow is the first day of the month of Sha'baan
2017/4/27 20:12
The Supreme Religious Office of the Grand Ayatollah Ali al-Sistani said on Thursday that Friday will be the first day of the month of Sha'baan.
A statement issued by the office, which was received by the agency All Iraq [where], that "on Friday, the first of the month of Shaaban, the year 1438 AH."
A statement issued by the office, which was received by the agency All Iraq [where], that "on Friday, the first of the month of Shaaban, the year 1438 AH."
*************
ARTICLE 3
Parliament raises its meeting to next Saturday
2017/4/27 15:51
[Baghdad-where]
Parliament raised its session to next Saturday .. Follow
Parliament raised its session to next Saturday .. Follow
*************
ARTICLE 4
Nasraoui: legislation of the law of Basra, Iraq's economic capital less than what the province deserves
2017/4/27 18:23
[Ain-Basra]
The Governor of Basra, Majid Nasraoui, the legislation of the law of Basra, the economic capital of Iraq as less than what the province deserves, thanks to Parliament for its vote today on the law.
The Governor of Basra, Majid Nasraoui, the legislation of the law of Basra, the economic capital of Iraq as less than what the province deserves, thanks to Parliament for its vote today on the law.
A statement from his office received the agency of all Iraq [where] a copy of it today, "on behalf of the people of Basra, the local government thanks and appreciation to the presidency and members of the Iraqi Council of Representatives for voting today on the law of Basra, the economic capital of Iraq, and thanks to those who launched this idea for years, Iraqi National Alliance. "
"This long-awaited law will undoubtedly contribute to creating fertile ground for the construction and reconstruction of our dear province, as well as the revitalization of the economic movement and the entry of investors through the Iraqi economic portal," he added.
"This law is less than what Basra deserves," al-Nasrawi said. "Since forever, it has been giving and taking, giving money and blood to Iraq and taking only diseases and crumbs from its assessed share."
"We in the local government of Basra will work vigorously to activate and implement this law on the ground, and we hope that all honorable people will support us, to advance our vision of our dear ones."
The House of Representatives voted in its meeting today on the draft law of Basra, Iraq's economic capital.
It is noteworthy that the head of the National Alliance, Ammar al-Hakim has put forward the initiative of the project of Basra province, Iraq's economic capital, and urged the citizen's bloc to work to legislate this law, Hakim said, "The project is part of the response to this generous province," adding that " Project and start away from the bidding. "
"This long-awaited law will undoubtedly contribute to creating fertile ground for the construction and reconstruction of our dear province, as well as the revitalization of the economic movement and the entry of investors through the Iraqi economic portal," he added.
"This law is less than what Basra deserves," al-Nasrawi said. "Since forever, it has been giving and taking, giving money and blood to Iraq and taking only diseases and crumbs from its assessed share."
"We in the local government of Basra will work vigorously to activate and implement this law on the ground, and we hope that all honorable people will support us, to advance our vision of our dear ones."
The House of Representatives voted in its meeting today on the draft law of Basra, Iraq's economic capital.
It is noteworthy that the head of the National Alliance, Ammar al-Hakim has put forward the initiative of the project of Basra province, Iraq's economic capital, and urged the citizen's bloc to work to legislate this law, Hakim said, "The project is part of the response to this generous province," adding that " Project and start away from the bidding. "
*************
ARTICLE 5
Yanui: The crowd liberated the urban district in record time
2017/4/27 12:26
[Ayna-Baghdad]
The commander of the operations of the people of Yaninwa team Lieutenant General Abdul Amir Rasheed Yarallah that the popular mobilization forces liberated the urban district in full.
The commander of the operations of the people of Yaninwa team Lieutenant General Abdul Amir Rasheed Yarallah that the popular mobilization forces liberated the urban district in full.
"The crowd freed the urban" in record time and within 48 hours and raising the Iraqi flag over the buildings after the enemy inflicted losses of life and equipment, "the statement said.
The popular crowd had launched on Tuesday a military operation in the name of [Muhammad Rasool Allah] to liberate the urban district south-west of Mosul, and freed his forces today the judiciary completely.
The popular crowd had launched on Tuesday a military operation in the name of [Muhammad Rasool Allah] to liberate the urban district south-west of Mosul, and freed his forces today the judiciary completely.
*************
ARTICLE 6
Iraqi Airways Office reopens in Mosul
Nineveh - April 28 - The Iraqi General Company of Iraqi Airways announced that it will open Mosul office on the left side of the city of Ninawa after it was closed due to security conditions and an urgent entry to the province. "The opening will be after all procedures have been confirmed and the office fully equipped and rehabilitated, and the former employees who were working between the Mosul office and airport, which are currently working between Baghdad, Erbil and Kirkuk offices, will be returned," the company said in a statement.Finished
*************
ARTICLE 7
The popular crowd is chasing some flourishing remnants in urban surroundings after its liberation
2017/4/28 11:01
[Ayna-Baghdad]
The Popular Front for the Liberation of Palestine (PFLP) forces on Friday continued to hunt down some remnants of the crowd in the urban district south of Mosul.
The Popular Front for the Liberation of Palestine (PFLP) forces on Friday continued to hunt down some remnants of the crowd in the urban district south of Mosul.
"Our forces are apprehending some remnants of the fugitive in the vicinity of the urban district of southern Mosul after liberation from the control of al-Dawash," the Popular Popular Media said in a statement received by the All Iraq agency.
It is noteworthy that the Popular Forces forces liberated the process of quality and the coincidence of the urban and surrounding villages south of Mosul, causing the destruction of elements, causing heavy losses of lives and equipment.
It is noteworthy that the Popular Forces forces liberated the process of quality and the coincidence of the urban and surrounding villages south of Mosul, causing the destruction of elements, causing heavy losses of lives and equipment.
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ARTICLE 8-A
How can you avoid the appearance of wrinkles?
2017/4/27 17:49
[Ayna-Follow]
The French beauty expert Marie Dubois at the University of Paris, in her study published in the weekly magazine "Femme Actuel" French weekly, the need to avoid eating sugar and its products to keep away from the appearance of facial wrinkles and maintain soft skin and beautiful.
The French beauty expert Marie Dubois at the University of Paris, in her study published in the weekly magazine "Femme Actuel" French weekly, the need to avoid eating sugar and its products to keep away from the appearance of facial wrinkles and maintain soft skin and beautiful.
She also focused on the need to exercise in a kind of sport and prefer yoga and walking, which improve the health of the heart and avoid its diseases.
It also focuses on the use of Diarrmin cream, which helps to repair the damage caused by UV radiation, which affects the skin and causes aging.
It also focuses on the use of Diarrmin cream, which helps to repair the damage caused by UV radiation, which affects the skin and causes aging.
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ARTICLE 8-B
Exercise intensity improves the brain performance of older people
2017/4/28 8:41
[Ayna-Follow]
A new study found that regular exercise stimulates and strengthens the brain, especially in adults 50 years of age or older.
A new study found that regular exercise stimulates and strengthens the brain, especially in adults 50 years of age or older.
The researchers collected data from 39 studies, including those who tested their brains before engaging in different types of exercise for 4 weeks. Weight training included aerobic exercises, birps, and spiritual exercises such as tai chi and yoga.
Based on the results of previous studies, new findings reveal the relationship between sport, memory and brain functions.
Participants were tested in several brain functions, including thinking, alertness, information processing, memory skills, etc. The study found that regular exercise helps to "improve the cognitive function of the brain in adults 50 years of age or older."
"Exercise a day or two a week seems to be effective, but the most important thing is that exercise intensity is the most effective," said lead author Joseph Norte.
The results of the study proved that thinking and memory skills are much improved by regular exercise, such as tai chi or weight lifting. It activates the blood and oxygen movement and benefits both the heart and muscles of young people and the elderly. It also stimulates the body to secrete a hormone that helps to form new nerves.
Previous studies on the brain's use of exercise have failed to reach a consensus on the impact of daily exercise on mental abilities, Dr. Anton Portenson, director of the Alzheimer's Disease Center at the University of Rochester School of Medicine, said. Help to "change the lifestyle of older people in a healthy way before it is too late".
Based on the results of previous studies, new findings reveal the relationship between sport, memory and brain functions.
Participants were tested in several brain functions, including thinking, alertness, information processing, memory skills, etc. The study found that regular exercise helps to "improve the cognitive function of the brain in adults 50 years of age or older."
"Exercise a day or two a week seems to be effective, but the most important thing is that exercise intensity is the most effective," said lead author Joseph Norte.
The results of the study proved that thinking and memory skills are much improved by regular exercise, such as tai chi or weight lifting. It activates the blood and oxygen movement and benefits both the heart and muscles of young people and the elderly. It also stimulates the body to secrete a hormone that helps to form new nerves.
Previous studies on the brain's use of exercise have failed to reach a consensus on the impact of daily exercise on mental abilities, Dr. Anton Portenson, director of the Alzheimer's Disease Center at the University of Rochester School of Medicine, said. Help to "change the lifestyle of older people in a healthy way before it is too late".
