Friday, May 19, 2017

Word on the Street Friday 5/19/17

Word on the Street Friday 5/19/17



Updated Map of Mosul May 19th, 2017

A map showing the great security progress security forces in Mosul, Ayman

Trump Pictures and THE US Flag in Saudi Arabia

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Word on the Street Friday 5/19/17:
Forex Rates:
 USD/IQD  1,140.7000  1,194.4000 1,143.7000 1,140.7000 1,143.7000  -3.0000 07:20
 USD/VND  22,336.0000  23,053.0000 22,382.0000 22,336.0000 22,382.0000  -46.0000 07:20
 USD/CNY  6.8899  6.8903 6.8976 6.8757 6.8890  0.0009 07:21
 USD/KWD  0.3033  0.3043 0.3033 0.3032 0.3032  0.0001 01:14
 GBP/USD  1.3002  1.3002 1.3018 1.2941 1.2952  0.0050 07:21
 USD/IRR  12,048.0000  12,428.0000 12,048.0000 12,048.0000 12,048.0000  0.0000 17:51
 USD/IDR  13,315.5000  13,327.5000 13,417.0000 13,288.0000 13,399.0000  -83.5000 07:20
DC NY Iraq Articles:

Masoum heads to Saudi Arabia next Saturday after deliberations in Amman

Journal May 18, 2017   Baghdad - Journal News
President Fuad Masum will travel to Saudi Arabia next Saturday after a visit to the Jordanian capital Amman, a source familiar with the presidency said Thursday.
The source told The Journal News that he was "likely to meet today with Jordanian King Abdullah II and a number of officials and important figures."
"Masoom's visit to Amman will continue for two days and then he will travel to the Saudi capital of Riyadh," the source said.
The advisor in the presidency Abdullah Aliawi said that "infallible, headed Thursday to Amman, Jordan on an official visit during which he will meet Jordanian King Abdullah II," noting that "the discussions will focus on coordination on the Arab-American summit and the reconstruction of liberated areas" .
Alawi said that "the infallible President will meet with the President of the Kurdistan region Massoud Barzani to resolve the outstanding problems between the Kurdish parties," adding that "infallible will leave Amman to Riyadh to attend the Arab-American summit there.

On the sidelines of Davos .. Iraq presides a meeting with Jordan to discuss investment

Minister of Planning and Trade Minister Salman Jumaili held a joint meeting between the Iraqi delegation participating in the Davos forum and the Jordanian side, which included ministers of trade, energy and oil, and attended by Iraqi businessmen and investors residing in Jordan.
"The meeting discussed the mechanisms required to facilitate the reality of investments in Jordan and Iraq, especially that there are more than 18 billion dollars of Iraqi funds invested in Jordan. The meeting also discussed the problems and obstacles facing investors and businessmen and the possibility of overcoming them.
"The Iraqi and Jordanian sides discussed during the joint meeting the economic and investment opportunities available in Iraq and facilitate the proposed procedures in this context," the statement said.

A statement to Sadr tomorrow afternoon in Tahrir Square

Said a source familiar with "a statement to the leader of the Sadrist movement Moqtada al-Sadr will read the era of Friday in Baghdad."
The source told the "Journal News" that "the statement of the leader of the Sadrist movement Moqtada will read at the sixth hour of tomorrow afternoon in Tahrir Square in central Baghdad," adding that "the statement will be specific to the service project."
"The followers of the Sadrists are demonstrating every Friday in Baghdad and the provinces for months to demand public reforms, the most prominent dismissal of the Electoral Commission."

Parliamentary Security accuses Abadi of "ignoring" corruption at the border crossings


Baghdad / Al-Ghad Press:
A member of the parliamentary security and defense committee, Majid al-Gharawi, on Thursday, the formation of a parliamentary committee to follow up the border crossings, because of the spread of financial corruption in them, pointing out that his committee submitted its opinion to the Prime Minister Haider Abadi, but did not respond to them.
Al-Gharawi said that "the House of Representatives formed a committee of inquiry emanating from the parliamentary financial committee, to follow the border crossings, because of the spread of financial corruption in them," noting that "the Security and Defense Committee presented its opinion to the Prime Minister Haider Abadi but we did not see a response And the interaction and solution to the problems and rampant corruption in the ports.
"We have applied to the Security and Defense Committee to form a special committee for the Shalamjeh outlet after receiving claims from citizens, traders and wheel drivers who have been blackmailed by government agencies and threatened by some mafias and gangs of influential parties in the provinces," he added.
MP stressed the Liberal bloc, that "the government is required to protect citizens and hold the corrupt, and reconsider the many security leaders and managers in the ports," especially in Basra and the port of Shalamjah, because of its negative impact on the movement of trade in the province.

Parliamentary calls to form a higher council for oil and energy

May 18, 2017  Baghdad - Journal News
A member of the Committee on oil and energy parliamentary Ali Fayyad, to form a Supreme Council of oil and energy will be under the direct supervision of Prime Minister Haider Abadi.
"At a time when the need to develop and expand the circle of interest in the oil and energy file, which represents the vital artery and the most important for the Iraqi individual, is calling for the formation of a higher council for oil and energy in the country, whose task is to oversee and plan the Iraqi oil policy," Fayyad said in a press statement. And the administration of contracts and agreements and oil partnerships and follow-up of export contracts and the development of oil industries, and make the Council, the Supreme Authority and not limited to marketing company oil Sumo.
Al-Fayyad pointed out that "there is misty and blurred in many of its dealings with Sumo and its contracts with international companies, but the Supreme Council of Oil and Energy will remove all question marks placed on the public administration of the energy file, especially that it will be under the direct supervision of the Prime Minister."
He explained that "most of the world's oil has higher boards of wealth management and the conclusion of agreements and deals and the presence of the Council will be important at the moment, especially as Iraq depends on the revolution oil as a primary source of resources," and called "the parliamentary blocs and political support this proposal and translated on the ground to preserve the oil wealth And not leave it in constant loss. "
Kauaihn Iraq Articles:

The Iraqi government reveals to the "Journal News" the fate of Qatari funds

Iraqi Prime Minister Haidar al-Abadi said on Thursday that "the Qatari funds still exist with the Iraqi government, and will be dealt with in accordance with the legal framework is not usual to the government country because it entered illegally to Iraq."
"The Qatari funds are under the control and protection of the Iraqi government and there are legal and banking frameworks that follow the issue of the money and return it to the Qatari government," said Saad al-Hadithi, spokesman for the Prime Minister's Information Office.
He added that "the Central Bank of Iraq and the judiciary operates in accordance with legal contexts, not usually the money because they entered the Iraqi territory illegally, and without prior knowledge of the government only after the landing of the Qatari plane at Baghdad airport and was detained in accordance with Iraqi law.

How did the world's rich lose 35 billion dollars in one day ?!

The world's wealthy on Wednesday lost nearly $ 35 billion of their wealth as US stocks fell under pressure from political debate in the United States, Bloomberg reported.
The world's wealthiest 500 people have plunged from $ 4.89 trillion to $ 4.855 trillion, which means that the world's wealthiest has lost $ 355 billion, according to Bloomberg.
The world's richest man, Bill Gates, lost $ 1 billion worth of his shares in Microsoft Corp. to $ 86.8 billion, with the company's stock falling 2.8 percent.
Amazon founder Jeff Bezos fell to third place after losing $ 1.7 billion as Amazon fell 2.2% to $ 81.9 billion. While the Spanish Amancio Ortega lost 355 million dollars, to be second with a fortune estimated at 83.2 billion dollars.
Mark Zuckerberg, founder of Facebook, was the hardest hit, losing $ 2 billion of his wealth, with the company's share tumbling 3.3 percent to Zuckerberg's fortune to $ 62.3 billion.
On Wall Street, the Dow Jones Industrial Average and the Standard & Poor's Index posted their biggest one-day drop since September as hopes for tax cuts and other business stimulus policies faded after reports that President Donald Trump tried to intervene in a federal inquiry.
The Dow Jones ended the trading session down 1.78% at 20606.93 points, while the broader Standard & Poor's 500 Index shed 1.82% to 2,357.03 points.
The Nasdaq Composite Index <.IXIC> was down 158.63 points, or 2.57 percent, at 6,011.24, its biggest one-day drop since June 24 last year.

Iraq .. Shiite Kurdish disagreements expected on the status of US troops after a hasty

WASHINGTON (Reuters) - US President Donald Trump faces the challenge of a failed deal by President Obama, an agreement with the Baghdad government, to keep US troops in Iraq, After the end of hostilities.
Negotiations began earlier this month between Iraqi Prime Minister Haidar al-Abadi and US officials in Baghdad to determine a new status for US forces, an agreement that would define the legal and diplomatic frameworks governing the US military presence in Iraq, The agreement, to spare Iraq the power vacuum that critics say was the result of the departure of US troops to Iraq in December 2011.
Al-Abbadi insisted this month that Iraq would not host US "combat forces" once a defeated organization was defeated, despite the reference by Baghdad and Washington that talk of a long-term role for the US military in Iraq Continuous. The United States currently has 7,000 troops, including several hundred special forces, advising the Iraqi army in the siege of Mosul, and US forces have reached their numbers in Iraq during the surge approved by George Bush in 2007 to 170 thousand.
The newspaper noted the differences in views between the factions of Iraq on the retention of US forces after the invasion of Mosul, while rejecting the Shiite government of Baghdad, the US presence, through the Kurdistan region of Iraq, on the lips of Barzani adviser to the Security Council of the Kurdistan region, their agreement to allow the Americans to stay in the territory Territory after the Mosul operation.
The newspaper said that the Kurds want to break away from Iraq, which would provoke the unrest again, but that does not prevent that the Shiite factions - backed by Iran - also want to gain significant influence at the expense of the rest of the Iraqi communities

Washington plans to assume NATO's full international alliance functions

The United States has suggested that NATO should take over training Iraqi forces after defeating a terrorist organization, the head of the US Joint Chiefs of Staff, General Joe Dunford, said.
"It could be in an excellent position to train Iraqi forces for a long time," Danford told reporters on board the plane returning from a NATO meeting in Brussels.
"Iraqi Prime Minister Haidar al-Abadi said that Iraqi forces could still need support after the victory over the terrorist organization, but without specifying its demands formally," Danford said. "In principle, NATO's mission can be limited to developing the capabilities of the Iraqi army, .
"NATO can provide the Iraqi army with logistical assistance, equipment, capacity development, training of cadres and the establishment of academies," he said, adding that "the task of providing guidance to Iraqi forces will remain the prerogative of the international coalition forces against the terrorist organization."
"NATO will not be asked to give military advice as it is now in Mosul or northern Iraq," he said. "I do not think we are about to think NATO will take over the coalition."
The United States has long urged NATO to join the alliance, knowing that each of the 28 member nations of the alliance is individually involved in the international coalition.
The issue will be raised at the NATO summit in Brussels, the first of which will include US President Donald Trump.
NATO military commanders expressed their support for the proposal at Wednesday's meeting, according to Czech General Peter Pavel, who heads the NATO military commission.

Accused the parliament of worsening the crisis of the displaced

The Parliamentary Integrity Committee confirmed that the phenomenon of corruption began to spread in all parts of the state, including the work of the committees supervising the file of displaced persons.
"The Presidency of the Parliament, as the head of the legislative and supervisory authority, bears the responsibility of monitoring and enacting laws that guarantee the elimination or reduction of corruption," said MP Salah al-Jubouri.
In his response to the allegations of creating sedition when raising the issue of the return of displaced persons in conjunction with the battles of liberation and the stages of elimination of a duel and the fact that it creates security gaps clearer that "liberation battles have nothing to do with the file of displaced persons. For example, Three years, the displaced did not return to it and the same applies to the areas of Yathrib, Amrali and Suleiman Beck. "
MP Jubouri said that "everyone should work on the return of displaced persons to their areas of residence as soon as possible and exercise their lives and work and can not be achieved only through the cooperation of citizens with the security authorities and the supervisory committees overseeing the return work of displaced persons and civil society organizations and UN organizations."
The parliamentary security and defense committee promised to "raise the issue of the return of displaced persons to their areas in conjunction with the battles of liberation, which is only an attempt by political politicians to" return to the political front again after the destruction of the western provinces. "
Kauaihn Economic Times:
ECONOMIC TIMES / CHATTER

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GLOBAL/NEWS/INFO

Bestselling author of 'The Automatic Millionaire': Do this and 'you can't fail'
Self-made millionaire David Bach offers his best advice.

Here's the No. 1 hard thing Melinda Gates says you need to do to succeed
The philanthropist tells CNBC what she wishes she'd known at 22.

10 lessons anyone can learn about success from the founder of Nike, an $85 billion company
Business Insider
Phil Knight, cofounder and chairman of Nike. How do you found one of the largest and most iconic sports companies in the world, becoming a billionaire along the way? Phil Knight recently unveiled the answer in his best-selling book "Shoe Dog: A Memoir by the Creator of Nike." Here are some of the most important tips to succeed he shares in his book. 1. Use your 20s to learn and explore After graduating from college and grad school, and spending a year in the Navy, 24-year old Phil Knight decided Read the full story

The 20 best places for new grads to launch their career
Business Insider
The city known as "The Crossroads of the West" took the top spot. All your friends may be headed to New York, Silicon Valley, or DC after graduation. But that doesn't mean they're the best places to start a career. According to personal-finance site WalletHub, recent grads should consider a few other spots before they decide where to move after college. WalletHub recently analyzed and ranked the 150 most populous US cities based on professional opportunities and quality of life to determine the Read the full story


OIL / COMMODITIES / ENERGY


Gold dips, paring ealier gains
Gold prices pared gains after extending its biggest one-day rally in nearly a year earlier on Thursday to a more than two-week high


Gold stays near 2-week high amid White House turmoilInvesting.com
Gold stays near highs amid White House turmoil Read the full story


Gold futures extend climb as stocks deepen drop amid political jitters
MarketWatch
Gold futures extended their rally Thursday, with evolving developments surrounding the Trump White House lifting prices on the safe-haven metal to multiweek highs. Read the full story



Oil down as market stays well supplied despite OPEC cuts



Oil prices slipped on Thursday as the market remained well supplied with crude despite efforts by OPEC and other big exporters to curb production and support prices.


Oil prices fall on concerns about U.S. supply glut
MarketWatch
Investors trim their bets ahead of next week’s meeting of the Organization of the Petroleum Exporting Countries and concerns about U.S. supply after fresh data. Read the full story



BANKS / BANKING


U.S. senators from both parties try to ease banking for marijuana businesses
Business Insider
Cannabis grower Steve Dillon tends to his plants on his farm in Humboldt County, California Thomson Reuters By Lisa Lambert WASHINGTON (Reuters) - Republican and Democratic senators on Wednesday renewed their drive to make banking easier for marijuana-based businesses in those U.S. states where the drug is legal, undeterred by signals from the Trump administration about maintaining tough marijuana restrictions nationally. The eight senators, who spanned the political spectrum from Read the full story


Strange bedfellows sign on to a new marijuana banking bill
Denver Business Journal
Under current banking laws, financial institutions can’t provide services to pot-related businesses because marijuana is illegal under federal law. For years, lawmakers have introduced marijuana banking bills that have gone nowhere. Now, comes a new bill -- this one has the backing of Republican Sen. Cory Gardner and Democrat Sen. Michael Bennet. But it also includes sponsorship from Massachusetts Democrat Sen. Eliabeth Warren and Republican Sen. Rand Paul, of Kentucky. Called the Secure and Read the full story


Relatively Low PEG Ratio Detected in Shares of Bank of America in the Diversified Banks Industry (BAC, WFC, CMA, JPM, C)
SmarTrend News
Below are the three companies in the Diversified Banks industry with the lowest price to earnings to growth (PEG) ratios. PEG is valuable in assessing the tradeoff between the... Read the full story


Credit Suisse on track to achieve end-2018 cost target: chairman
Business Insider
CEO Tidjane Thiam sites beside Chairman Urs Rohner of Swiss bank Credit Suisse as he addresses the audience at the bank's extraordinary shareholder meeting in Zurich Thomson Reuters ZURICH (Reuters) - Credit Suisse is on track to hit its targeted cost base by end-2018, Chairman Urs Rohner said on Thursday, part of a broad restructure of Switzerland's second-biggest bank. "Accordingly, we are well on track to achieve a cost target of 17 billion Swiss francs ($17.4 billion) by the end of 2018, Read the full story


Under pressure ECB warned to be ready to change economic stance or face FINANCIAL BLOWBACK
Express
THE European Central Bank should not wait too long before taking away monetary support, ECB board member Benoit Coeure has said. With euro zone inflation now just under 2 per cent and growth on its best run for years, the ECB is coming under pressure from Germany to start winding down its €2.3 trillion bond-buying programme and start increasing its main policy rate, currently below zero. Mr Coeure, a long-standing supporter of ECB President Mario Draghi's policy, said the bank should be ready to Read the full story


Deutsche Bank has been asked to make a plan for moving clearing out of London after Brexit
Business Insider UK
FRANKFURT (Reuters) — European supervisors want Deutsche Bank to prepare a fallback plan to lay out how it could shift the clearing of trades from London, one person with direct knowledge of the matter said, as the region seeks to guard itself against a possible hard Brexit. The European Central Bank, which monitors euro zone lenders, is worried about the impact on the region's financial sector, should Britain drop out of the European Union without agreeing the terms of future trade, including Read the full story



Eyeing demographic shift, banks step up English services
The Japan Times
When starting out in a new country, having a bank account is essential, but choosing a bank can be difficult without being familiar with banking systems or speaking the local language. For that reason, some Japanese banks are beefing up services aimed at English-speaking residents. The banks are hopeful that drawing more non-Japanese customers — […] The post Eyeing demographic shift, banks step up English services appeared first on The Japan Times. Read the full story





TREASURIES/ BONDS/ STOCKS

The wheels are coming off for U.S. stocks, this classic gauge shows
MarketWatch
Fresh reports overnight that the president knew about an FBI investigation into his to-be national security adviser Mike Flynn are keeping the White House drama alive and well, potentially setting investors up for another thrill ride. Read the full story



US Treasurys lower as traders search for safety
U.S. government debt prices were lower on Thursday as investors search for safe havens on concerns over the U.S. administration.


Dow futures drop 75 points, pointing to a second day of losses on Trump fears
Futures pointed to a lower open as investors assessed the future of Donald Trump's presidency and his chances of moving forward with his pro-growth agenda.




CURRENCIES


Trump slump deepens after worst falls for dollar since July
The dollar wallowed near six-month lows against a basket of major currencies on Thursday.


The US dollar has officially given up all its post-election gains
Business Insider
The dollar has officially given up all its post-election gains. The US dollar index is little changed at 97.62 as of 8:01 a.m. ET on Thursday. The index closed at 97.861 on November 8, the day of the US presidential election. Still, the dollar appears to be taking a breather on Thursday after weakening on Wednesday. "Yesterday's dramatic response to the political maelstrom in Washington is over. The appointment of a special counsel to head up the FBI's investigation into Russia's attempt to Read the full story


Pound to euro exchange rate - sterling dives despite unemployment reaching historic lows
Express
POUND sterling has taken a tumble despite the UK’s unemployment rate dipping to historic lows. GBP continues to struggle against the single currency even with the release of encouraging data out of the UK this week. The pound is buying €1.16 after sliding from €1.17 yesterday. Read the full story


Pound rockets to 7-month high against dollar amid Trump fears and strong UK economy
Express
THE pound has jumped to its highest level in seven months against the dollar, as fears over Donald Trump's presidency pressure the US currency, while retail sales gave more evidence that Britain's economy is in good shape. Sterling jumped another 0.4 per cent against the dollar to move above $1.3 for the first time since last September during Thursday morning trading. The US currency has been subject to large sell-offs as Mr Trump's presidency is engulfed in controversy. Read the full story


Forex - Aussie rises to 2-week highs on jobs data, kiwi slips lowerInvesting.com
Aussie gains ground on upbeat data, while kiwi moves lower vs. stronger greenback Read the full story


Rupee weakens for third straight day
Livemint
Mumbai: The Indian rupee on Thursday weakened for the third consecutive session against the US dollar as concern over US President Donald Trump spurred a selloff in emerging market currencies Read the full story


Forex - Dollar hits fresh 3-week lows against yen on Trump woesInvesting.com
© Reuters. Dollar hits fresh 3-week lows against yen on Trump woes Read the full story




USA



Roger Ailes, who built Fox News into a powerhouse, dies at 77
CNN Money
Ailes started the network almost from scratch in 1996 and built into not just a cable news ratings leader but a profound influence on the right wing of American politics. Read the full story

Initial jobless claims unexpectedly drop
Business Insider
Initial jobless claims unexpectedly dropped Claims, which count the number of people who applied for unemployment insurance for the first time, fell by 4,000 to 232,000. Economists forecast claims rose by 4,000 to 240,000 from the prior week's 236,000. Initial jobless claims are used as a real-time proxy for the pace of layoffs since people usually file for benefits soon after they lose their jobs. The four-week moving average came in at 240,750, a drop of 2,750 from the previous week's Read the full story


Fed Rate Hike Bets Are Slashed on Weaker Economy
Investopedia
The odds for two more Fed rate hikes in 2017 fell sharply on economic misses Read the full story


What NAFTA talks could mean for U.S. consumers and business
USA TODAY
NAFTA will likely survive. But what does Trump want in renegotiation? Read the full story




EMERGING MARKETS

Brazil stocks set to crash on political scandal, dragging down hot emerging markets trade
Brazilian stocks were set to plunge on an emerging scandal involving the country's recently installed president.

Brazil stocks crash on emerging political scandal
CNBC
Brazilian stocks were set to plunge on an emerging scandal involving the country's recently installed president. Read the full story


Report says Brazil's president is on tape discussing hush money
Business Insider
Brazilian President Michel Temer seen Tuesday during the opening ceremony of the 20th conference of the march in defense of the municipalities, in Brasilia, Brazil. Brazilian President Michel Temer gave his blessing to an attempt to pay a potential witness to remain silent in the country's biggest-ever graft investigation, according to plea-bargain testimony by a powerful businessman, the newspaper O Globo reported on Wednesday. Temer 's office on Wednesday acknowledged he had met in March with Read the full story


Robots Taking Over U.S. Factories Imperil Emerging-Market Growth
Bloomberg
The robot revolution is here, and it’s not all good for emerging-market economies. As the conversion to more automated factories picks up steam in countries like the U.S., Japan and Germany, there’ll be less factory work outsourced to developing nations with relatively low labor costs, according to a report by Moody’s Investors Service. The impact will be most severe in Hungary, Czech Republic, Slovakia, Vietnam, Malaysia and Thailand. While most robot-related anxiety in popular culture has Read the full story


MIDDLE EAST

NATO in Afghanistan: Marine Gen. Joseph Dunford says alliance should move quickly to deploy forces
USA TODAY
NATO considers new troops to break stalemate in Afghanistan Read the full story


GCC bourses start to regain poise on foreign purchases
Mubasher
By: Mahmoud Gamal Mubasher: Most GCC stock markets started to lure investments and managed to see a positive performance on Wednesday, in line with the rise of oil prices recently, analysts told Mubasher. Most Gulf bourses are expected to continue … Read the full story


Opinion | Saudis Expect Big Economic Boost From Trump Visit
Bloomberg
Saudis prepare for Trump. Saudi-U.S. ties have never been better. Saudi Arabia will be President Donald Trump's first stop in his first overseas tour. The Saudis have laid out a massive red carpet for Trump and his business delegation with multiple events. It’s emblematic of the importance the Saudis have bestowed on Trump and the rebirth of its relationship with the U.S. It’s not unusual for a U.S. president to visit Saudi Arabia -- President Barack Obama, who was viewed cautiously by Riyadh, Read the full story


Rouhani, the ultimate insider, promises change in Iran
CNN
He may be the ultimate insider, but Hassan Rouhani is running like the anti-establishment candidate. Read the full story



Donald Trump Jr., Dubai billionaire Hussain Sajwani discuss ‘new ideas’
USA TODAY
The Trump Organization has said it won’t make new foreign deals while President Trump serves as leader. Read the full story










A
 



FRICA


Africa: IMF Urges Sub-Saharan Africa Implement Policies for Growth
AllAfrica
(Photo: Gillian Nantume/Daily Monitor) Kampala To revamp the current economic growth slowdown in sub-Saharan African countries, the International Monetary Fund (IMF) has urged governments in the region to implement strong policy actions. In its new Regional Economic Outlook 2017 published on May 9 titled Restarting the Growth Engine, the IMF said the sub-Saharan African economic outlook remains clouded after growth slowed sharply in 2016, averaging 1.4 per cent, the lowest in two decades. The Read the full story


Zimbabwe: 'Excessive' Spending By Mugabe Govt Could Fuel Inflation - IMF
AllAfrica
(Photo: allafrica.com) The International Monetary Fund (IMF)is warning that excessive spending by President Robert Mugabe's government will worsen cash shortages and stoke inflation. The warning came as latest figures showed inflation rose to 0.48% in April up from 0.21% in March. "Excessive government spending, if continued, could exacerbate the cash scarcity, further jeopardise the health of the external and financial sectors, and, ultimately, fuel inflation," said Ana Lucia Coronel, who Read the full story









ASIA






Alibaba's quarterly revenue beats estimates
China's top e-commerce firm also announced a two-year share repurchase program of up to $6 billion.


Japan's economy just logged its longest stretch of growth in over a decade
Business Insider
Japan's economy grew at the fastest pace in a year in the first quarter of 2017, according to data released by the government on Thursday. Real GDP increased by 0.5%, marginally shading expectations for a smaller expansion of 0.4%. It was also an improvement on the 0.3% increase of December quarter. It was the fifth consecutive quarterly increase, the longest stretch of uninterrupted growth since 2006. While a notable achievement, the record provides an indication about the struggles the Read the full story


Risk asset selloff continues in Asia-Pacific markets
Business Insider
Asia-Pacific stock markets plunged in early trade as turmoil surrounding President Donald Trump set off a flight to haven assets. Bonds, yen and gold gained. Here's the scorecard: ASX 200: 5,756 -29 -0.5% AUD/USD: 0.7433 +0.0003 +0.04% Nikkei 225 Stock Average:19,548 -267 -1.4% USD/JPY: 111.15 +0.32 +0.29% Gold:1,259.63 +0.93 +0.07% Stocks markets in Sydney, Seoul and Tokyo fell 0.5% to 1.4% after the S&P 500 Index plunged by the most since September. The US dollar erased all its gains since Read the full story


China complains to U.S. about new Iran sanctions
Business Insider
Hua Chunying, spokeswoman of China's Foreign Ministry, gestures at a regular news conference in Beijing Thomson Reuters BEIJING (Reuters) - China said on Thursday it had lodged a complaint with the United States after it imposed narrow penalties on Iranian and Chinese figures for supporting Iran's ballistic missile program. China has complained repeatedly to the United States about unilateral sanctions against Chinese individuals and companies linked to either Iran or North Korea's nuclear or Read the full story




EUROPE

Proposal Banning Laptops on U.S. Flights From Europe Has Been Taken 'Off the Table'
TIME
President Donald Trump proposed the ban in the wake of talks with Russian officials about an alleged threat Read the full story



Brexit Bulletin: The Business of Divorce
Bloomberg
U.K. Prime Minister Theresa May once said she didn’t like Brexit being labeled a “divorce.” But that’s exactly how European Union policy makers view it. “This negotiation is now in the hands of our capable divorce lawyers,” European Commission President Jean-Claude Juncker said on Wednesday. European Commission President Jean-Claude Juncker and Theresa May at 10 Downing Street last month. The issue is more than linguistics. Juncker’s message is that the EU will approach the breakup in a Read the full story


France, Germany resist U.S. plan for bigger NATO role against Islamic State
Business Insider
FILE PHOTO: U.S. President Trump and NATO Secretary General Stoltenberg hold joint news conference at the White House in Washington Thomson Reuters By Robin Emmott BRUSSELS (Reuters) - France and Germany are resisting a plan by U.S. officials for NATO to take a bigger role in the fight against Islamic State in Syria and Iraq, in line with calls from President Donald Trump for the alliance to do more to combat terrorism. Many alliance members hope the plan will be announced in Brussels next 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
Kauaihn Chatter:
5-18-2017   Newshound Guru MadDScout   Article quotes:   "...Saleh, financial adviser to the Prime Minister has proposed the establishment of a bank to finance the trade of the private sector contribution of commercial banks..."  "Abdul Basset Turki stressed that the continued clinging to resolve the economic crisis through Iraq through borrowing and reducing public spending without changing the exchange rate of the Iraqi dinar in securing revenues to cover the current spending of the state will quickly lead to further economic recession and erosion of foreign assets, especially the reserve of the Central Bank of Iraq."  Both Saleh and Turki laid out some very coherent guidelines.  It will take wisdom and the "want" to do it.  Not all these suggestions are going to be easy but are how market economies work.  [Do you think it will happen soon after Mosul?]  I like to believe so.  They have a very good opportunity right now as stated...the time may not always be such.

5-18-2017   Newshound Guru Kaperoni
   Article:  "The stability of central bank sales at $ 159 million"  Quote:   "The size of the amount sold today reached 159 million and 547 thousand, and $ 157, priced at 1182 dinars exchange rate against the dollar, with the participation of 37 banks and 11 financial transfer company." The statement said, "The amounts transferred to the accounts of banks, as well as cash sales were priced at 1190 dinars per dollar sale abroad."   [I'm a little bit confused, these figures 1182 & 1190 exchange rate, is this normal? We're looking for 1204 right!]  Yea, the CBI has two prices for the dinar..cash and via remittance. I think that is pretty standard.  What we care about the market rate or street rate of the dinar which is around 1251.  They need to reduce that to around 1200 to be in compliance with the IMF.

5-18-2017   Intel Guru Frank26   How will you know if Iraq is INTERNATIONAL?  The definition of when Iraq is INTERNATIONAL is WHEN their CURRENCY is accepted WORLD-WIDE...TRADEABLE on FOREX...that is when they are INTERNATIONAL.   Family...we are NOT going to see a different rate...IF...they don’t make an INTERNATIONAL announcement.  Abadi has come SO CLOSE to telling you that they are INTERNATIONAL ...but they have to show us.  So...let’s see what happens on Friday and over the weekend.  We need a TRADABLE CURRENCY!  IMO.

5-18-2017   Newshound Guru tlm724   Article:  "Deposit guarantee law key to activate investments through banks"  Quote:  "Today we realize that money stashed away in homes exceeding 20 billion dollars and that a large number of course and can contribute to achieving sustainable economic development and change the Iraqi economy while being transported from the houses to the banking system."  They MUST get this money in the system!  That is a lot of dough.  The CBI has launched the Development Fund which will help address liquidity which is part of this issue . The people are hurting and granting loans to the citizens, if simplified, will get the people into the banks and they will need an bank account to get the loans so this is important!
5-18-2017   Intel Guru Frank26   ...one of our newshounds posted the article ...The translation is very important.  URGENT...“...on Friday.”  It didn’t say “by Friday”...it said “...on Friday.” And that was said by Abadi.  This is what we’ve been looking for.  Friday is a TARGET DATE.  I find it interesting that on the 19th...we pray that we see Abadi announce the liberation of Mosul.  The 20th President Trump will be in the Middle East.  We need to see that announcement ON FRIDAY by Abadi.  IMO...on MONDAY they went INTERNATIONAL...and I look forward to the announcement of such.  (doesn’t make sense to do all of this for a program rate).

5-18-2017   Newshound Guru Phillyman
  Article:  "Paramilitary troops free airbase, more villages, west of Mosul  Still hard work ahead for the military but the message of the inevitable victory in Mosul continues.

5-18-2017   Intel Guru Frank26   "Float dinar .. is the solution to save foreign currency reserves"  Quotes:  "The situation in the Iraqi economy forces the central bank to move and adopt a flexible policy in the exchange rate in preparation for floating the dinar against other currencies in the medium term."  "Manages Floating, which allows the central bank to intervene to prevent sharp and sangerous fluctuations in the dinar exchange rate, can be used here."  THIS IS HUGE!  It talks about the monetary reform, the budget, etc.  “Medium term” means right now!  They are going to manage the FLOAT of the IQD...(yup, they learned from Kuwait).  They told you...their goal is to get to 1 to 1.  A managed float? That’s back to the GLORY DAYS family!  72-78 days...it will peak.  What were the glory days?  $3.40ish.  All of this information is coming at the speed of light...just like we said once we have Mosul.  The CBI has been ready since JANUARY of this year!  They are ready to go!
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 Abadi receives Iraqi expatriate specialist specialist
Prime Minister Dr. Haidar Al-Abbadi received the Iraqi expatriate doctor, Munjid Al-Mudaras, and expressed his readiness to conduct more operations and training for the wounded fighters inside Iraq in the field of orthopedic and joint surgery and the implantation of electronic limbs. He was also awarded a certificate in appreciation of his efforts.
Dr. Abadi praised the efficiency of Iraqi doctors and their national positions and professional reputation among their counterparts in the rest of the world, stressing that our approach is to bring modern medical techniques into Iraq to address the wounded of the armed forces and civilians victims of terrorist attacks and relying on Iraqi medical personnel.
The meeting was attended by Minister of Health Dr. Adila Hammoud.
Prime Minister's Media Office
May 18, 2017

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ARTICLE 2

Aboul Gheit stresses the importance of preserving the unity of Iraq

2017/5/18 20:41

[Ayna-Follow] 
Arab League Secretary-General Ahmed Aboul Gheit affirmed that the priority in Iraq must be to preserve the unity of the state in light of the supremacy of the rule of law and the principles of democracy.
"Aboul Gheit affirmed in a meeting with an Iraqi parliamentary delegation that the university is keen to respect human rights and the principle of citizenship and strive to reach a national consensus in a way that will break the path to anything that would disturb the security and stability of Iraq," the statement said. 
"The delegation headed by MP Qutaiba al-Jubouri briefed Aboul Gheit on the dimensions of the various challenges faced by Iraq, especially the threat of terrorism, in addition to the problem of millions of displaced Iraqis as well as the developmental challenges in a number of vital sectors." 
The delegation stressed "the priority given by the Iraqi state and its institutions to enhance the Arab role of Iraq and its efforts to engage in joint Arab action, especially within the framework of the activities of the League of Arab States as the parent Arab institution."
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ARTICLE 3

Allawi to the Iranian ambassador: We criticize your intervention in Iraq and we reject any aggression against you


BAGHDAD, May 19 (IranMania) - Vice President Iyad Allawi said during his meeting with Iranian Ambassador to Iraq Erj Musjedi that the region does not tolerate another war, calling for joint action between the two countries to restore stability.
"Whatever the differences between us, Iran, with its historical and geographical ties with Iraq, remains an important neighbor," Allawi said in a statement. "We are critical of Iran's interference in Iraq and elsewhere in our region and in the Arab countries. We reject any aggression against it, and we refuse to become a launching pad for aggression against any of the others. "
Allawi renewed the call for a regional security conference in the presence of Iran, stressing the importance of "the relations between the countries of the region based on non-interference in the internal affairs on the one hand and the exchange of interests and balance on the other." Finished

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ARTICLE 4

URGENT Yanninu announces liberation of Al-Warshan district in Ayman Mosul

2017/5/19 10:33  94 times read
[Ayna-Baghdad] 
The operation headquarters of Yaninwei announced the liberation of Al Warshan district on the right side of the city of Mosul.
"The anti-terrorist forces liberated Al-Warshan neighborhood in the right-hand side of the Mosul and raised the Iraqi flag over its buildings," the commander of operations of the Yanbu Brigade, Abdul Amir Rashid al-Yarallah, told the agency. 
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ARTICLE 5

Destroyed command posts, a bomb squad, and a training camp for Al-Ba'ja 'elements


NINEWA, May 19 (Xinhua) - The Air Force Command announced on Friday that F-16s, based on accurate information from an operational intelligence cell, were coming to Nineveh, the General Directorate of Intelligence and Security (ISI) directed several successful air strikes to the site.
"The fighters destroyed three command and control headquarters, a suicide bomber, a laboratory to blow up the wheels, and a training camp for terrorist elements," the statement said, pointing to "the destruction of a stockpile of rockets and mortars and the killing of 10 other terrorist elements, including the so-called military commander of the Baath." AH

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ARTICLE 6

The start of the eighth day of the operations of Kairouan and the bombing of a car bomb in the vicinity of the village, "Cairo"


Ninewa - Iraq May 19 - The War Media Cell announced on Friday the launch of the eighth day of operations of the "Mohammed Rasool Allah II" to liberate Kairouan with the support of the Iraqi army.
"The Iraqi forces and the air force launched on the eighth day and several axes to achieve the goals of the first page of the operations (Mohammed Rasul the second) to liberate the area of ​​Kairouan and villages and surrounding communities," pointing out that "our forces managed to detonate a car bomb A subsidiary of the Daqash organization in the vicinity of the village of Cairo south of Kairouan, and that with the support of the air force continues to advance until the achievement of targets set west of Mosul. AH

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ARTICLE 7

Study: Fast food causes dementia

2017/5/18 23:07

[Ayna-Follow] 
A study found that eating fast food in the periods of youth and young people, may make one suffers in the middle age of the deterioration of some of his mental abilities, those that fall within the cognitive abilities, which caused severe dementia.
The study, in which the researchers followed cases for many decades, showed that a person's high blood pressure or increased cholesterol, while smoking, could seriously damage his cognitive abilities. 
The researchers noted that fast food and smoking in the young age, add to the age of the brain six years, additional by middle age, which means that signs of dementia may begin to appear on humans at an incredibly young age.

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