Thursday, April 6, 2017

Word on the Street Thursday 4/6/17

Word on the Street Thursday 4/6/17


TNT Update Blast 

It is being reported that the Kurds are in Baghdad attending meetings resulting in the immediate implementation of Article 140.

ADDITION:
Abadi just announced on TV the agreement to remove obstacles that were blocking the passing of Article 140.
2nd ADDITION:
Iraqi TV reports Abadi meeting with UN secretary and requesting removal of Chapter 7, completion for Mosul in 2 weeks, and that the currency  should be in line with the wealth of the country.....at least 6 times more than present.




Word on the Street Thursday 4/6/17:


TNT CONFERENCE CALL WEDNESDAY 4/5/17 DC NY CALL RECAP:
Good afternoon TNT Superfantastic family. Today is Wednesday Hump day. Lets get right into this. No new intel just member training. There has been some back and forth by the way of information. From the best information providers I have, we are just waiting. When they know something, they will contact us. Across the pond, there is some window dressing, and it is a timing issue. They need to work it out and fine tune it. Then it will unfold, so we patiently wait. What other choice do we have? Q&A: Q: Are we still looking good or sometime this week? Are your intel people still excited? Ray: Yes and yes. Q: I would like to call several banks for rates. Will there be several 800 numbers? Ray: I don't know what will happen with the 800 numbers. I am thinking single 800 numbers, but we will see? Q: Have prices changed in Iraq on their currency? Ray: I have not heard, only the news they put out. Q: My mother is in her late 70's and heard it will negatively affect her SS and benefits. Should we set up a trust for her? Ray: Yes Callers: 865: Post RV seminars that are planned where will all that info be posted? Ray: On the website on Blast and Tweets. Caller: 801:When we exchange should we put currencies in seperate accounts. Ray: I will do Dinar seperately but the rest in one account. Caller: Will this be a taxable event? Ray: We will have to wait and see. Caller: 918 When this happens, some will go but some will go later. What does that mean? Ray: Lets say tomorrow, some people will choose to exchange, and some will not depending on each person's strategy. Caller: What about SKR's? Some will get less money, since that is what the contract they made. Caller: 941: I am hearing that the dinar will have no taxes. When you are over a certain age you make as much money as you want, but you don't hve to give up your Social Security. Ray: Ok Caller: 832: For medicare, I dont know how the rules will apply? Ray: I don't know about that. In the bank, you are in control of your money.You tell them what you want to do with your money not what they want you to do. You are in charge, and you are the negotiator. Caller: 972 What about chapter 7 ? Ray: Some things don't make sense and some have motives? Lets wait and see. Smoke and mirrors. Dont listen to what they say. Watch what they do. Ray wrapup: Today's call was for the members for you to get all your questions answered and get you mentally ready. We are waiting and banking folks are on stand by. I don't have anything saying one time or another. Banking community is excited saying it is coming. I like that. I have an across the pond community saying it is done. We don't know why it is not out yet. Until I get some info and concrete news, I will let you know when I do. It is up to you to Believe. I Believe! How about you? Enjoy your Wednesday! Rayren98
Forex Rates:
 USD/IQD  1,138.4000  1,194.7000 1,138.6000 1,138.4000 1,138.6000  -0.2000 07:10
 USD/VND  22,307.0000  23,057.0000 22,313.0000 22,307.0000 22,313.0000  -6.0000 07:10
 USD/CNY  6.8980  6.8993 6.9057 6.8867 6.8934  0.0046 07:25
 USD/KWD  0.3046  0.3056 0.3049 0.3044 0.3045  0.0001 04:16
 GBP/USD  1.2461  1.2464 1.2501 1.2453 1.2487  -0.0026 07:26
 USD/IRR  12,048.0000  12,428.0000 12,048.0000 12,048.0000 12,048.0000  0.0000 17:51
 USD/IDR  13,322.0000  13,336.0000 13,341.0000 13,306.0000 13,317.0000  5.0000 07:24
DC NY Iraq Articles:

 

Abadi and the delegation of Kurdistan agree to remove obstacles that prevented the activation of Article 140

Thursday, April 6dAlsumaria News / Baghdad
The office of Prime Minister Haider al-Abadi said on Wednesday that the latter agreed with the delegation of the Kurdistan region to remove obstacles that prevented the activation of Article 140, while stressing the importance of preparing for the requirements of the census after the completion of the liberation of all lands.

The Office said in a statement received by Alsumaria News, a copy of it that "the Prime Minister Haider Abadi, received in his office on Wednesday, the delegation of the Kurdistan region," noting that "it was agreed to adhere to dialogue and calm and focus on participants and abide by constitutional and legal frameworks to ensure the unity of Iraq and coexistence Between all components and not being allowed to be dragged into side battles and focusing on our fight against terrorism. "


"The two sides stressed the importance of preparing for the requirements of the population census after the completion of the liberation of all lands and the elimination of terrorist gangs," the office added.

"It was also stressed the importance of joint action in the interest of all the people of the same country," he said.

On Wednesday, a delegation from the Kurdistan region arrived in Baghdad, where he held a meeting with President Fuad Masum and Parliament Speaker Salim al-Jubouri, where they discussed relations between the two sides and the situation in Kirkuk.

US Ambassador: We want to see the Iraqi funds in Iraq to create jobs and not in Dubai, Beirut and London

Basra / Al-Ghad Press:
BAGHDAD - US Ambassador to Iraq Dugulas Seleman on Wednesday called for investing Iraqi funds in Iraq by providing jobs and setting up businesses rather than investing in Dubai, Beirut and London.
"We want to see the Iraqi funds in Dubai and Beirut or London come back to the country to create business and business opportunities here in Iraq," Sulliman said during a speech at the Technical University in Basra.
He added that "Iraq faces many economic challenges because oil prices have declined and that the reconstruction and security of liberated areas will be expensive," praising "the security forces and courage of the army and the federal police and brigades of rapid response and the fight against terrorism and popular mobilization.
"Iraq is undergoing a demographic change because 50 percent of Iraqis are now under the age of 19," Sulaiman said. "The private sector is slowly advancing behind the government in job creation. Iraq ranks 165 out of 190 countries in the World Bank study for countries where it is easier to do business Trade ".
He expressed his satisfaction with the efforts of the Iraqi government and the local government of Basra to seek decentralization, simplify bureaucracy, increase transparency and involve the private sector, stressing that "the United States of America was and will remain a close partner of Iraq.

Iraq's average oil exports averaged 3.3 million bpd in March, an Iraqi spokesman said
05-04-17  Iraq announced on Wednesday that the average crude oil exports for March exceeded three million and 259 thousand barrels per day. Asim Jihad, spokesman for the Iraqi Ministry of Oil in a press statement that "the preliminary monthly statistics of Iraqi crude oil exports indicate the export More than three million and 259 thousand barrels per day, the majority of the fields of central and southern Iraq, in addition to the fields of Kirkuk, through the ports of the Gulf and Jihan. He pointed out that the volume of financial revenues exceeded four billion and 744 million dollars. He said that "the average price of a barrel of Iraqi oil exceeded $ 46 per barrel." The rate of Iraq's crude oil exports for the month of February last amounted to more than three million 269 thousand barrels per day

Collect signatures of 50 deputies to fill the legislative vacuum of (5000) employees of the Gas Company Basrah

2017-04-05 at 13:32 (Baghdad time) Baghdad - Mawazine News
A member of the parliamentary oil and energy committee, Jamal al-Muhammadawi, signed 50 signatures to fill the legislative vacuum in the civil service law, which affected more than 5000 employees in the South Gas Company after being loaned to the Gas Company of Basra.
"We have collected the signatures of 50 deputies to solve the problem of employees of the Basrah Gas Company and amend Article 38 of the Civil Service Law," Al-Mahmoudawi said in a press release.
He added that "the new amendment to Article 38 of the Civil Service Law provides for the repeal of the provisions of this article and replaces it, authorizes the competent minister or the head of the entity not affiliated with the ministry or the governor to approve the loan of the employee services to the private or mixed sectors for a period not exceeding (5) Renewable for one time ".
"The proposed amendment also provides for the exception of the provisions of the first item of this article / the Minister of Oil may lend the services of employees working in public companies of the Ministry of Oil to companies invested in the oil sector for the duration of the contract concluded between them and the ministry.
He pointed out that the amendment calculates the period of loan service for the purposes of premium and promotion and retirement.
He stressed the need to "fill the legislative vacuum to adapt to the interests of employees and justice for this productive segment in Iraq."
"The amendment was referred by the Presidency of the House of Representatives to the Finance Committee to do the necessary."
Basrah Gas Company was established in May 2013, and the company consisted of South Gas Company with 51% participation shares, and the contribution of Dutch Shell and Mitsubishi by 49%.
More than 5,500 employees, most of them Iraqis, work for Basrah Gas Company, many of whom have years of vast experience gained from working with the South Gas Company before transferring responsibility to the Basrah Gas Company when it was established.


Kirkuk is the victim of political conflicts between the center and the region .. How will end its cause?


Between the pro-opposition and external intervention, is still Kirkuk province disputed between the Arabs and Kurds, raising the flag of Kurdistan drove the politicians in Baghdad from their silence, as well as generated negative reactions by the Turkish side on the subject, which presages the outbreak of political and perhaps military war to obtain the city, The Turkmen are the land of their ancestors and the center of their weight.
"The decision to raise the Kurdish flag in Kirkuk in isolation from the Arab and Turkmen components was hasty," said the head of the National Alliance, Ammar al-Hakim, in a press conference in Diyala province, and attended by "Al-Ghad Press", calling on "the Kurds to take him down and stay on the Iraqi only."
On the other hand, a member of the Turkmen Front of Parliament, Niazi Muammar Oglu, on Wednesday, told "al-Ghadbiris" that the Front is seeking during the next meeting to collect signatures of up to 200 to dismiss the governor of Kirkuk and dissolve the provincial council, noting that "the front will go to the Federal Court The request is submitted to the Prime Minister. "
In addition, the Turkish Foreign Ministry issued a statement confirming the illegality of the decision taken by the Kirkuk Provincial Council unilaterally in the session boycotted by the Turkmen and Arab members on a referendum on the status of Kirkuk.
She added that "the decision of the provincial council of Kirkuk to keep the issue of holding a referendum on the status of the province on the agenda, is a very negative step and would endanger social security, pointing to the decision taken at a meeting did not participate Turkmen members and Arabs, who are essential elements of Kirkuk, Does not involve any legitimacy. "
For his part, the political analyst Hashim al-Haboubi told Al-Ghad Press that "Kirkuk is still a disputed province, and the decision to raise the flag came in protest against the non-implementation of Article (140) of the Constitution," adding that "the Kirkuk Council has the right to report Raising the flag and separation. "
"Turkey is considered the first protector of the Turkmen in Iraq, and the Turkish forces are present in Baishika with the consent of the region, so we have allowed the Turkish intervention in our internal affairs."
He pointed out that "the independence of Kirkuk depends on resolving the controversial issues between the center and the region peacefully, without resorting to political and military war, because the differences are limited to the division of wealth contained in that province."
The issue of the independence of Kirkuk is still a problem between the center and the region, and further to the Turkish intervention in the internal affairs of the country..
Kauaihn Iraq Articles:

The Iraqi government is using the United Nations to confront financial corruption

Apr 06, 2017
Baghdad: Al-Quds Al-Arabi: The Iraqi government seeks to confront the wave of administrative and financial corruption rampant in state institutions, using international efforts and other measures, aimed at improving Iraq's international financial reputation.
"The UN investigators are investigating 40 cases of corruption professionally, away from any political diagnosis, and looking into the usefulness of the offices of the inspector general in the ministries and state institutions," said the deputy director of the office of Prime Minister Nofal Abu Shun.
He noted during his participation in the activities of the Iraq Energy Forum in Baghdad, that "will be held next Thursday, a workshop in the presence of the Prime Minister on how to raise Iraq's assessment in the classification of international transparency organizations next year."
The international contribution to the fight against corruption is part of an agreement signed by the Iraqi Government in August 2016 with the United Nations Development Program (UNDP) in Baghdad to strengthen the Government's capacity to investigate, investigate and prosecute large and complex corruption cases.
Under the terms of the Convention, UNDP will employ international investigators to assist in the training of Iraqi investigators and counseling, and will be the chief investigator of the Integrity Commission and the Supreme Judicial Council.
The Ministry of Justice has recently concluded that all real estate registration documents will be archived electronically in Baghdad and all governorates and will be maintained in cooperation with the Central Bank of Iraq, which has allocated one of its warehouses to keep this archive and documents in coordination with the Office of the Minister of Justice and the Office. Inspector General of the Ministry and the Real Estate Registration Department.
The Minister of Justice, Haider Zamili, said in a statement that «the Ministry has made great efforts to reduce the fraud or manipulation of documents of the circles and notes of real estate registration and has been developing special mechanisms to prevent loss or damage».
He explained that «the Ministry of Justice will withdraw the CDs deposited in the Central Bank of Iraq and the General Department of real estate registration every six months to update them according to the changes that take place in the real estate property and the result of the sale and purchase through legal means».
The Minister of Justice assured the citizens that "no person or entity can anymore manipulate the real property belonging to them, especially as the ministry has put in place strict and precise procedures and mechanisms to block the corrupt and weak people."
Many real estate properties, such as buildings, land and land, were manipulated and rigged after the security vacuum and chaos after the occupation in 2003. The parties and the organized crime mafia seized thousands of state properties or citizens, especially those displaced outside Iraq.
"One of the reasons for his desire to resign repeatedly is that the authorities took action only in 15% of the 12,000 cases of corruption that the Commission investigated and referred to the public court," said Hassan al-Yasiri, head of the Integrity Commission. Last », stressing that« very few ».
He called on the judiciary to "resolve issues quickly to keep pace with the work of the Commission."
"I have taken bold steps and sent investigators to open files in each ministry in search of the slightest signs of corruption and impose a travel ban on senior officials for the first time, and senior officials were forced to commit to greater transparency in their financial affairs," Yasiri said in a statement.
"He is facing constant criticism from the political blocs that used to use their control over ministries to provide services to their supporters."
"The problem has been reduced by the Defense Ministry's scrutiny, but more work is needed," Yasiri said. Some officers are still paying part of the salaries of some soldiers in exchange for allowing them unlimited leave. "
"There are a million people in the army. In all countries it is difficult to eliminate corruption in these large numbers. We are trying to tighten the screws on the corrupt, but it is difficult to eliminate corruption overnight. "We need more time."
Yasiri had already submitted his resignation to Prime Minister Haider al-Abadi in June 2016, but the latter refused, and at Yasiri's insistence, Abadi agreed to leave him in office until the replacement was appointed.
Each year, Iraq ranks top in Transparency International's list among the most corrupt countries in the world, so the government seeks to curb corruption, amid severe difficulties and hurdles from corruption whales working with the support of powerful political forces.

Iraq calls for international investigation by bombing in Syria
 April 5, 2017Baghdad - Journal News
Foreign Minister Ibrahim al-Jaafari on Wednesday called for an international inquiry into the bombing in Syria. "Success in achieving security and stability in Syria will have positive results for Iraq," Jaafari said at an international conference on the Syrian crisis in the Belgian capital Brussels.
"An international investigation should be opened to ascertain the truth of the bombing in Syria," he said. On Tuesday, at least 18 civilians, including two children, died of suffocation, the Syrian Observatory for Human Rights said

05-04-2017 01:15 PM

Interior Minister Qassim al-Araji discussed with the interior ministers of Qatar and Jordan the strengthening of Arab security cooperation and strengthening the relations of cooperation between the two countries.

A statement by the Interior Ministry said that Araji visited on the sidelines of the 34th session of the Council of Arab Ministers of Interior currently held in Tunis, Sheikh Abdullah bin Nasser Al Thani, Prime Minister and Minister of Interior of Qatar, where they discussed the importance of Arab security cooperation and its impact on Achieving security and stability.

On the other hand, Interior Minister Qassem al-Araji and the accompanying delegation discussed with his Jordanian counterpart Ghalib Al-Zoghbi the overall aspects of security and economic cooperation and discussed the issue of joint border ports between the two countries and the large group of participants linking the two countries.

For his part, the Jordanian Interior Minister stressed his country's keenness on the security and stability of Iraq and the desire of the government and people of Jordan to achieve prosperity and peace in Iraq, indicating that the Kingdom of Jordan will remain a supporter of Iraq on various levels.

The World Bank: The gap widens between rich and poor countries
05-04-2017 01:09 PM
Eastern News -

The world is facing "interesting contradictions," according to a World Bank report published at the Dubai Investment Forum, attended by officials and decision-makers from 140 countries. "The number of people living in" extreme poverty " $ 1.25 a day over the past three decades. " "The widening gap between the wealthiest and poorest countries in the world is widening," he said, noting that foreign direct investment "plays a large role in its expansion."


The World Bank monitored three steps within a logical framework, which it considered "essential to the creation of a complex investment policy, the most important of which is to help governments connect points between variables at different levels, affecting ways in which developing countries can engage in the global economy, From prioritizing and arranging priorities to a local reform agenda. " In addition, «help transform the vision of any country for investment and reform to concrete actions applied».


The report pointed out that the process through which countries can apply the logical framework for achieving the three objectives is what can be called the "investment reform map". He stressed three "fundamental" proposals that policymakers must take into account in defining a modern investment vision for development in the era of globalization. The policy of investment and development is linked to domestic and foreign investments, and investments in general and direct ones in particular are not homogenous.


The third suggestion is that "investments are not just financial operations, but rather a phased relationship between different stakeholders." "The investment classification framework" helps countries distinguish between the benefits, challenges and impacts of different types of investment, "said Roberto Ishandi, head of investment policy at the World Bank.


The World Bank "works with governments to engage in defining the determinants of investment reform, and helps government clients improve investment competitiveness." The analysis of investment competitiveness analyzes "the constraints of the investment climate and opportunities in countries, consisting of seven units of measurement within three Sections, to allow for a demand-driven approach, stereotyped according to the needs of the country. "


"Technical assistance focuses on helping countries to reduce and rationalize the use of legal and regulatory barriers, identifying and reforming procedural barriers through streamlining processes, and discussing and addressing de facto regulatory barriers by promoting greater transparency, confidence, and improved governance in the investment entry system," he said.


In terms of foreign direct investment (FDI) linkages and side effects, the report cited the UN Conference on Trade and Development (UNCTAD), which reported that foreign direct investment flows in developing economies reached record levels of $ 681 billion in 2014 with total FDI stocks in countries Developing countries exceed $ 8.3 trillion

 

Araji discussed with the interior ministers of Qatar and Jordan the strengthening of Arab security cooperation

04-05-17
Interior Minister Qassim al-Araji discussed with the interior ministers of Qatar and Jordan the strengthening of Arab security cooperation.
A statement by the Interior Ministry said "Araji visited on the sidelines of the 34th session of the Council of Arab Interior Ministers currently held in Tunisia, Sheikh Abdullah bin Nasser Al Thani, Prime Minister and Minister of Interior of Qatar.
During the meeting, they discussed the importance of Arab security cooperation and its significant impact on the security and stability of our societies. The two sides also discussed enhancing cooperation relations between the two countries in the interest of the two brotherly peoples.
Minister of Interior Qassem Al-Araji and his accompanying delegation visited Jordan's Prime Minister Ghaleb Al-Zoghbi at his residence in Tunis on the sidelines of the 34th session of the Council of Arab Ministers of Interior. They discussed all aspects of security cooperation between the Republic of Iraq and the Hashemite Kingdom of Jordan. In the interest of the two friendly peoples and Araji during the meeting the good role of the Jordanian government in providing facilities for the Iraqi community in Jordan, calling for more cooperation and coordination of positions in this regard.
For his part, the Jordanian Interior Minister stressed his country's keenness on the security and stability of Iraq and the desire of the government and people of Jordan to achieve prosperity and peace in Iraq, indicating that the Kingdom of Jordan will remain a supporter of Iraq on various levels.
The two ministers also discussed a number of common issues in the context of the regional neighborhood, including security and economic coordination, and discussed the issue of joint border crossings between the two countries. The interior ministers of Iraq and Jordan condemned the despicable acts of terrorism to organize the terrorist advocate while emphasizing the need to unify and coordinate Arab efforts to eliminate this terrorist organization. He tries to distort the image of Islam and the image of the Arabs.
"We welcome your outstretched hands to cooperate and stand with you against terrorism, blessed by the victories achieved by the Iraqi security forces on the terrorist organization in the liberation operations," said Interior Minister Ghali Zoghbi.
For his part, Al-Araji said that the doors of Iraq are open to all its Arab brethren in order to establish peace, stability and prosperity in our Arab homeland.
Kauaihn Economic Times:


ECONOMIC TIMES / CHATTER

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GLOBAL/ NEWS/ INFO:
How the global debt pile rose to ‘eye-watering’ levels
MarketWatch
Data from the International Institute of Finance says borrowing levels have hit record highs Read the full story
10 incredible financial statistics that sum up the average American
USA TODAY
Here's an overview of how much money Americans make, owe and save. Read the full story
Here is a last-minute tax return checklist
CBS News
As you scramble to file by this year's April 18deadline, be sure you don't make these common mistakes Read the full story

OIL/ COMMODITIES / ENERGY
Gold lips after failure to break technical resistance
Gold prices fell on Wednesday from one-month highs hit the session before, with investors waiting on President Donald Trump's meeting with Chinese President Xi Jinping later in the week.


Gold settles higher for third day as investors await Trump-Xi meeting
MarketWatch
Gold futures rise for a third straight session for their highest settlement since late February, as financial markets nervously await a meeting later this week between President Donald Trump and his Chinese counterpart. Read the full story

Gold is marching toward $1,300 -- but this could trip it up
MarketWatch
Gold prices flirted with a major technical level on Tuesday, and all eyes are on whether prices can keep going. Our call of the day says $1,300 an ounce will be the limit this year. Read the full story


Brent crude oil hits one-month high near $55 on tighter supplies
Oil hit a one-month high near $55 a barrel on Wednesday as a drop in U.S. crude inventories raised hopes that OPEC-led supply restraint is clearing a glut.


Oil prices rally after bullish U.S. supply data
MarketWatch
Oil prices rose for the sixth time in seven sessions on Wednesday, propelled higher by signs that U.S. supplies are finally dwindling and helping rebalance the market. Read the full story


 


BANKS/BANKING
Next crisis could come from the shadow banking system, says ex-Fed member Lockhart
The U.S.’s substantial shadow banking system could be the source of the next financial panic, the former President of Atlanta’s Fed Bank has suggested.

Trump Today: Dodd-Frank to get ‘major haircut,’ president says
MarketWatch
President Donald Trump retweeted a story about former President Barack Obama’s National Security Adviser Susan Rice ordering U.S. spy agencies to produce spreadsheets of calls involving Trump; told a group of about 50 chief executives he’s working on a major infrastructure plan; and spoke at a building-trades conference. Read the full story

A day in the life of a private banker at HSBC
Business Insider
Allisen Graves at Zuma in New York City. This March, Allisen Graves celebrated her 10th year with HSBC in New York City. A senior vice president relationship manager with the private bank, Graves has been working with many of the same high-net-worth clients for years, advising them through any decisions they must make regarding banking, lending, trusts, insurance, and investments - every "financial aspect of [their] life," she told Business Insider over lunch recently. "My clients are like Read the full story


Machine learning is now used in Wall Street dealmaking, and bankers should probably be worried
Business Insider
It has been said that Wall Street dealmaking is more art than science. That could be changing. JPMorgan, which is spending big on technology as it looks to cut costs and increase efficiency, last year launched a predictive recommendation engine to identify those clients which should issue or sell equity. And now, given the initial success of the engine, it's being rolled out to other areas. Matt Zames, chief operating officer at JPMorgan, ran through the bank's tech strategy in a letter titled " Read the full story


Europe's Addiction to Bailing Out Banks
Bloomberg
Effective regulation means letting some banks fail. Read the full story


Singapore’s central bank likely won’t be turning hawkish any time soon
CNBC
Singapore’s economy may be perking up, but the central bank isn’t likely to turn hawkish at this month’s policy review, analysts said. Read the full story


Forex - Yen dips after NKorea missile test, China-U.S. summit eyedInvesting.com
© Reuters. Yen weaker after NKorea missile test Read the full story



USA
JPMorgan CEO Dimon says in annual letter that there's 'something wrong' with the US
Dimon, in his annual letter to investors, expressed hope for the bank's future in large part because attitudes toward banking and business have changed.


Trump, Xi Jinping, and the US Economy
ACDemocracy
President Donald Trump will be meeting his Chinese counterpart on Thursday negotiate economic and security matters. But while Mr. Trump is confident he will “make America great again,” the country can barely afford both butter and guns. The national security of the U.S. relies heavily on the robustness of economic growth. The faster the economy... Read the full story


There’s one important reason why this time is different for Fed rate hikes
Business Insider
Not all Federal Reserve interest rate moves are created equal: some reverberate around the world and others, like March's highly-telegraphed increase, pass through markets with barely a whimper. While many factors make this effort to raise interest rates different from previous ones, a single challenge stands out: US economic growth, employment, and inflation have consistently disappointed during this lengthy but slow recovery. Oxford Economics'review of 15 past rate hike cycles finds the Read the full story

 


EMERGING MARKETS


A Chinese automaker is reportedly planning to build a plant in Mexico states hit by Trump
The states being considered are Nuevo Leon in northern Mexico and the central state of San Luis Potosi.


Emerging markets will keep crushing the US, traders say
CNBC
Emerging markets funds could see further upside after logging a stellar first quarter, according to traders betting on emerging markets’ growth. Read the full story


An Avenue For Emerging Markets Income
Benzinga
Emerging markets equities are soaring this year, extending a rebound that started last year. That theme extends to developing world dividend payers, which can serve as satellite, tactical positions for investors searching for income and some international portfolio diversity. Conventional wisdom dictates that when equity markets slump, dividend stocks are usually less bad than their non-dividend counterparts. Assuming conventional wisdom is accurate, it is reasonable to say emerging markets Read the full story


Why Mexico hedged oil at $38 a barrel
MarketWatch
It’s a form of insurance. And as a Bloomberg story shows, it’s been a prudent but monumental undertaking. Read the full story




MIDDLE EAST



Kirkuk council votes for referendum on joining Iraqi Kurdistan
Fox News
The Iraqi province of Kirkuk has voted in favor of a region-wide referendum to determine if it will join Kurdistan's government or remain tied to Baghdad. Read the full story


Britain Offers to Help to Wean Saudi Economy Off Oil Dependency
Bloomberg
Theresa May, U.K. prime minister, center, looks on while Majid Al Qasabi, Saudi Arabia's commerce minister, center left, speaks following her arrival at King Khalid International Airport in Riyadh, Saudi Arabia, on April 4, 2017. U.K. Prime Minister Theresa May plans to help Saudi Arabia lower its dependency on oil exports and increase the participation of women in the workforce as the Gulf kingdom seeks to modernize its economy. Britain will help reform the Saudi Ministry of Defense, and Read the full story



GCC bourses likely to see institutional purchases
Mubasher
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to see purchases of blue chips by local and foreign institutions on Wednesday, in line with the approach of first-quarter financials, and stability of global stocks and oil prices, … Read the full story


May and LSE chief woo Saudi ministers for $2tn Aramco listing
the guardian
UK prime minister and London Stock Exchange boss seek to win flotation of state oil company, likely to be largest of all time Read the full story







 

EUROPE
DIMON we fear the EU will split apart, and it could have 'devastating economic and political effects'
Business Insider
Jamie Dimon. JPMorgan Chase CEO Jamie Dimon is out with his annual letter to shareholders, in which he discusses not only the bank's business outlook but also various current economic and political issues. Perhaps unsurprisingly, he addresses one of the big political shocks of 2016 - the UK voting to leave the European Union in the June Brexit vote - and what that could mean for the continent going forward. "We hope that the advent of Brexit would lead the EU to focus on fixing its issues - Read the full story


Euro business must be moved from London after Brexit
RiyadhVision
London should cede financial transactions denominated in euros to EU cities like Amsterdam, Paris or Frankfurt following Britain’s exit from the bloc, an EU Parliament leader said Tuesday. London should cede financial transactions denominated in euros to EU cities like Amsterdam, Paris or Frankfurt following Britain’s exit from the bloc, an EU Parliament leader said Tuesday. Manfred Weber, the German head of the conservative European People’s Party (EPP) group, the parliament’s biggest bloc, Read the full story


Growing exports help UK economy stabilise
The Telegraph
Britain’s economy picked up pace in March as the powerful services sector performed strongly, raising hopes that the slowdown in the previous month could be a blip. Read the full story

FX Focus: Pound rallies as Britain's manufacturing sector booms
International Business Times, UK Edition
Growth in the UK services sector hits three-month high in March, beating analysts' expectations. Read the full story

Blessed and Highly Favored:

CBI Update:
The CBI for Thursday, April 6, 2017 did update on the indicative rates and the sell rate for the USD is 1184. The currency auction is 162,242,266. There are no updated news and announcements for Thursday, April 6, 2017.
ISX Update:
The ISX latest update is Shares Traded is 919,207,965 and Values Traded is 617,682,388. The ISX ended in GREEN.
TNT Intel Update for 04/05/2017:
It is being reported that PM Abadi announced on TV the Iraqi Dinar revalue 6:1 at the international rate.
(However, the rate has NOT yet changed....stay tuned)
WELL, IT LOOKS LIKE NO MORE DONATIONS WILL BE NEEDED.......STAY TUNED!!!
Blogs:
Frank26 They are removing the USD from the streets from the citizens. The citizens must stop using the USD and other foreign currencies. The MCP (multi-currency practice) must end. They are dropping the 3 zeros in 2 different ways. #1 -- Stopping the usage of the USD’s – taking them away from the citizens. #2 -- They must simplify the exchanging the of the currency. The goal is to get to 1,000 to 1...but once they are there (including stability/security) they will move QUICKLY to 1 to 1. The market will carry 1 to 1 inside of Iraq...lead to a higher rate OUTSIDE of Iraq. I think $1.12 - $1.14 once it goes outside of Iraq. IOO...IT’S COMING.
Many people are returning back to the liberated cities in Iraq. The UN wanted to make sure that the displaced people were ok...and locating properly for the HCL. If they lifted Chapter VII...that would be a MAJOR step in the MR [Monetary Reform] of the IQD. Abadi said that they are in the last phase of Mosul. I disagree...you are in the last phase of the currency reform...
The BIG Call (via Bruce)Nothing is going to happen until Iraq is ready. We had a celebration in Iraq. There was a delegation to witness the announcements of Iraq returning to sovereignty and release of chapter 7 of the UN. Basically the return of sovereignty and revalued rate of their currency. We know the liberation of Mosul also was announced. We know that is something that was celebrated by having the two new flags flying on either side of the Tigris River. We know that in the mosque a few day s ago, Iraq had made an announcement that their currency is 6 times the value of the USD. When it comes to timing with this...I found out there are additional things going on that is keeping this held up slightly. It is a plan that is moving forward. It is in a sense on autopilot. This week looks really good. I am feeling really good the possibility of anytime between now and the weekend. I am excited where we are and where we are going.
ZAP's Mid-Week Report - The Office of POOFness - 4.6.17
Kauaihn Chatter:
4-6-2017   Newshound/Intel Guru Mnt Goat   Article:  "Iraq: Confidence is in the Air"  Quote:  "This confidence boost may be the starting pistol on Iraq’s Road to becoming a market economy."  ...remember the CBI is looking for STABILITY and SECURITY, two buzz words that keep appearing in all the articles from the CBI, IMF and the UN in general,...can you say revaluation...
4-6-2017   Newshound Guru Adam Montana
   [...are you still as positive this week about the HCL being implemented as you were a few weeks ago?... and can Iraq change the rate anytime they want throughout the year or does it have to be done by the first quarter?]   Absolutely yes! And they can do this any time they want, there are absolutely no real restrictions. "Any given Sunday", as they say... or Monday, Tuesday, etc.  [Do you think is possible to see an RV in 2017... YES, emphatically so!
4-5-2017   Newshound Guru Kaperoni   "REPORT: Is the Iraqi dinar Recovering?"  Quote:  "With the economic boom led by the oil industry in Iraq, the national currency will rise eventually to reflect the true value of the oil indispensability of the country. It is likely to happen up when the central bank raises the value of the dinar."    Nice to hear them talk about the potential and process for the dinar. That being said, Iraq has not passed a significant law in quite a while even though many have called for them to do so. Yes, the banking system has made progress the last year under the guidance of the IMF, but it's time Iraq does it's part and pass the laws, to create the environment for investment. Then we shall see what happens.

4-5-2017   Intel Guru RayRen98   The banking community says that it is happening any time. It could be another minute, hour, day, week, or even month; I don’t have anything definitive one way or the other.   My Iraqi sources are saying “it is done;  we don’t know why you haven’t seen it over there.”   My best sources says we are just waiting, and “we will contact you”.

4-5-2017   Newshound/Intel Guru Mnt Goat   I am very optimistic that the UN will allow Iraq an exit from many more Chapter 7 – sanctions or maybe move them to Chapter 6 as related directly to running their “closed” economy. As long as they are doing as the IMF and UN have laid out for them in the Stand-By-Agreements (SBAs)– there is no reason to believe the UN (with the helping hand of the IMF) won’t support a return “international acceptance and integration”…and that is all any of us really care about...  This is when we go to the bank… When the IQD does actually have any significant value change it will be all over the news...you will surely know.   It will be very public and very apparent.   [post 2 of 2]

4-5-2017  Newshound/Intel Guru Mnt Goat   ...the news coming out of Iraq has changed its tone. It is no longer all about fighting ISIS or the political rivals and bickering but rather it has moved on to seriousness about the Iraqi economy and financial sectors. It is now all about bringing the needed investments into Iraq and to grow their economy.  My personal opinion is we are on the verge, the very edge of a huge major change in their economy...it will not be much longer until they have to (forced to) to switch out of the “artificial”  “program” rate and get relief from the UN sanctions that are now holding them back.   [post 1 of 2....stay tuned]
4-5-2017   Intel Guru Frank26   Many people are returning back to the liberated cities in Iraq.  The UN wanted to make sure that the displaced people were ok...and locating properly for the HCL.  If they lifted Chapter VII...that would be a MAJOR step in the MR [Monetary Reform] of the IQD.  Abadi said that they are in the last phase of Mosul.  I disagree...you are in the last phase of the currency reform...

4-5-2017   Newshound Guru Adam Montana
   Look, I can only keep doing this for so long... most likely that time is coming to an end. And I am stoked about moving to the next phase of this ride!  Have you seen the news about HCL? Have you noticed how laser focused Abadi is, on so many things? That guy is a MACHINE! The party is getting prepped! Heck...some of the stuff I'm seeing from the GURUS is starting to mimic a bit of what I am personally hearing from my contacts in Iraq and in the financial world. THAT kind of situation is amazing!  In fact, there's a lot of talk about APRIL being "the month"... I am not going to confirm that I am feeling that same thing, but it's not out of the running. We are seeing INCREDIBLE movement right now, both in the public news sector and also in the private channels I use. The bottom line...is that we are playing in a BIG playground and the IQD is poised to be a BIG deal worldwide! I'm currently about as excited as I have ever been about this situation!

4-5-2017   Newshound Guru loop   Article:  "Iraq: Confidence is in the Air"  Quotes:   "...there was a strong sense that Iraq’s fortunes are turning a corner..."  “Confidence has returned to Baghdad — it is in the air! Baghdad is confident again, and it’s absolutely wonderful.”  
The IBBC (Iraq Britain Business Council) Spring Conference has started.

4-5-2017   Intel Guru Bruce
   Nothing is going to happen until Iraq is ready.  We had a celebration in Iraq.   There was a delegation to witness the announcements of Iraq returning to sovereignty and release of chapter 7 of the UN. Basically the return of sovereignty and revalued rate of their currency. We know the liberation of Mosul also was announced. We know that is something that was celebrated by having the two new flags flying on either side of the Tigris River. We know that in the mosque a few day s ago, Iraq had made an announcement that their currency is 6 times the value of the USD. When it comes to timing with this...I found out there are additional things going on that is keeping this held up slightly. It is a plan that is moving forward. It is in a sense on autopilot.  This week looks really good.  I am feeling really good the possibility of anytime between now and the weekend.  I am excited where we are and where we are going
Elmer:
Not in today
Artmeister:
Not in today
Catnip:


ARTICLE 1-A (from PM Abadi's website; posted only on Arabic side, not posted on English side)

Prime Minister Dr. Haider Abadi: Fighting corruption is a priority of the government

Prime Minister Dr. Haidar al-Abadi stressed that combating corruption is a priority of the government despite the many difficulties and the war against terrorism and the financial crisis due to the decrease in oil revenues, but we are pleased in this line.
This came during the speech of His Excellency in the national consultations to combat corruption and promote transparency in the public sector under the patronage of the Prime Minister and in the presence of the United Nations Development Program in Iraq and international experts in the fight against corruption.
The Prime Minister said that one of the steps we have taken in the fight against corruption was in the security establishment because the corruption contributed to the entry of an advocate, so today our national forces welcome in all provinces and achieve victories.
He explained that some people are trying to confuse the papers by increasing the accusation of corruption without evidence, calling on the regulatory authorities to continue their plans to fight corruption and not to be dragged to the plans of others by dumping them with malicious and other issues to waste their effort. "We do not want the citizen to feel that there is an obligation on him, so we have reduced the salaries of the officials.
"Today, despite the financial crisis, Iraq has improved its credit rating, put pressure on expenditures and became more interested in weaker classes," he said.
Dr. Abbadi said that what is sad is when going to the provinces there are several projects spent billions of dinars without benefiting the citizen, pointing out that there are great steps we have taken and walk on the right path.

Prime Minister's Media Office 
April 6, 2017


ARTICLE 1-B (from PM Abadi's website; posted only on Arabic side, not posted on English side)

Prime Minister Dr. Haider al-Abadi receives a delegation from the Kurdistan region

Prime Minister Dr. Haider al-Abadi received in his office Wednesday a delegation from the Kurdistan region.
It was agreed to adhere to dialogue and calm and focus on the participants and abide by the constitutional and legal frameworks to ensure the unity of Iraq and coexistence between all components and not allow to be dragged into side battles and focus on our fight against terrorism.
It was also agreed to remove the obstacles that prevented the activation of Article 140 and emphasize the importance of the preparation of the requirements of the census after the completion of the liberation of all land and the elimination of terrorist gangs.
The importance of joint action in the interests of all the people of the same country was also emphasized.

Prime Minister's Media Office
April 5, 2017

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ARTICLE 1-C (from PM Abadi's website)
Prime Minister Dr. Haider Abadi receives the President of the Republic Dr. Fuad Masoum

Prime Minister Dr. Haider Al-Abbadi received in his office Wednesday the President of the Republic Dr. Fuad Masoum
In the meeting, we welcome the victories achieved by our heroic forces in the coming operations of Nineveh, praise for their capabilities and the importance of perpetuating the momentum of victories as we approach the conclusion of the battle.
The general situation in the country was discussed and the importance of unifying the discourse and not raising the problems that affect the morale of our heroic fighters from the army, police, Peshmerga, the popular crowd and the other formations that are fighting honor battles against the terrorist gangs.
It was agreed that resorting to dialogue and the constitution is the way out of any problem in the country, and that the province of Kirkuk has multiple components and nationalities, and there is no solution except resort to dialogue.
The meeting evolved into the pivotal and major role of Iraq in the region and the international community and the international and regional openness to the strong victorious Iraq and successive successes achieved in successive visits to Washington and the Arab Summit, and before it the Munich Conference and the visits of foreign officials to Iraq, which reflects the great successes achieved and which will increase in our internal unity and unity of our positions. To preserve what has been achieved for the benefit of the country and our citizens. 
Prime Minister's Media Office
April 5, 2017
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ARTICLE 2

Abadi and Masoom insist on unifying the discourse and not raising the problems

2017/4/5 20:22
[Ayna - Baghdad]
Prime Minister Haider al-Abadi and President Fuad Masum stressed the need to unite the discourse in the country and not to raise problems.
"The Prime Minister, Haider al-Abadi, received in his office Wednesday the President of the Republic, Dr. Fuad Masum, where the general situation in the country was discussed and the importance of unifying the speech and not raising the problems that affect the morale of our heroic fighters. From the army, the police, the Peshmerga, the popular crowd and the rest of the formations who are fighting the battles of honor against the gangs that support terrorism. "
The statement pointed out that "the victories of our heroic forces in the coming operations of Nineveh and praise of their capabilities and the importance of perpetuating the momentum of victories as we approach the resolution of the battle," pointing out that "the agreement that resort to dialogue and the Constitution is the way out of any problem in the country and Kirkuk province, There is no solution but resort to dialogue. "
He added that "Iraq's pivotal role in the region and the international community and the international and regional openness to the strong and victorious Iraq and consecutive success achieved in Washington, the Arab Summit, the Munich Conference and the visits of officials to Iraq have been addressed, reflecting the great successes that will be achieved in our internal unity and the unity of our positions. "Everyone must preserve what has been achieved for the benefit of the country and our citizens."
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ARTICLE 3

Abadi and Jabouri discuss strengthening the work of the legislative and executive branches

2017/4/5 19:47
[Ayna - Baghdad]
Speaker of the House of Representatives Salim al-Jubouri on Wednesday discussed with Prime Minister Haider al-Abadi the work of the legislative and executive branches.
"The two parties discussed the latest political and security developments, the developments in the battle of Mosul and the elimination of terrorism, and ways of coordination and cooperation between the legislative and executive branches," a statement from the al-Jubouri office said. 
"The two sides stressed the importance of supporting all efforts aimed at achieving stability and taking the necessary measures to strengthen the bonds of trust and joint building under the Iraqi constitution tent to build a strong and sovereign state."
On the international level, "the Speaker of the Parliament and the Prime Minister agreed on the importance of opening new horizons of cooperation and coordination between Iraq and the neighboring countries and other friendly and brotherly countries in a way that ensures the realization of the interests of Iraq at all levels and blessed Iraq's efforts in international forums and its active participation in the Arab Summit." 
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ARTICLE 4

URGENT Anti-terrorism liberated the second Yarmouk neighborhood in Mosul

2017/4/6 13:12
[Ayna-Baghdad] 
The security forces, in the anti-terrorist apparatus, liberated the second Yarmouk neighborhood on the right side of the city of Mosul.
"The anti-terrorist forces liberated the second Yarmouk neighborhood on the right side of the city of Mosul and lifted the Iraqi flag over its buildings after the enemy lost lives and equipment," a statement from the media information center said.
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ARTICLE 5

URGENT Jannouni announces the liberation of the neighborhood of Morocco in Ayman Mosul

2017/4/5 16:42
[Ayna-Baghdad]
The operations command of Yaninwei announced the liberation of the neighborhood of Morocco on the right side of the city of Mosul.
"The counterterrorism forces liberated the neighborhood of Morocco on the right side of the city of Mosul, raised the Iraqi flag over its buildings and made a petition with the neighborhood, Wells and millers' neighborhood. "
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ARTICLE 6

Deputy: Britain's objection to the investigation of chemical weapons in Mosul raises suspicion

2017/4/5 13:41
[Ayna-Baghdad]
The National Alliance MP Rashid al-Yasiri said that Britain's objection to the investigation of chemical weapons in Mosul "raises suspicion".
"Britain has objected to an international request from Russia and China in the UN Security Council to expand the work of the International Commission of Inquiry on the use of chemical weapons in Syria to include Iraq," al-Yasiri said in a press release on Wednesday.
He added that "this objection raises suspicion and Iraq to move quickly to find out the reasons for the objection because this does not serve the country in general."
It is noteworthy that the gangs of the Daash terrorist used chemical weapons of chlorine gas in the bombing of Peshmerga sites in the province of Nineveh.
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ARTICLE 7

Security expert: Full victory achieved in Mosul and the treatment of sleeper cells
(Baghdad: Al-Furat News) said security expert Amir Saadi, on Wednesday, that victory is fully achieved in the city of Mosul, although there are neighborhoods have not resolved their liberation.
"Al-Saadi told the Euphrates News that" victory is fully achieved in the city of Mosul, although some neighborhoods are not liberated, but the decisive victory has been achieved, "noting that" a change calling the name of the neighborhood July 17 to the neighborhood of stability shows me a significant decline, Which declares the victory of the armed forces. "
"It is only a few days before the announcement of victory," he said.
On the security situation in the city of Tikrit, the center of the province of Salah al-Din, said Saadi, "The focus of anarchism focused on the targeting of security and stability, and try to stabilize the ground and obtain a military victory, and today exploits some pockets in the left-hand area of ​​the province of Sharqat, But there are areas that can infiltrate from them are urging. "
The security expert stressed the need to "address sleeper cells waiting for zero hour to carry out terrorist operations."
The city of Tikrit on Tuesday evening, two suicide bombings in the city center resulted in the deaths of more than 31 people and wounding dozens, while the security forces killed the remaining terrorists who infiltrated into the city.

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