Saturday, July 8, 2017

Word on the Street Saturday 7/8/17

Word on the Street Saturday 7/8/17

Macgork announces a forthcoming meeting between Iraq and the International Monetary Fund and the World Bank next week



link

sumaria News / Baghdad , 
said the US president 's envoy to the International Alliance Brett Macgork, Saturday, for a forthcoming meeting between Iraq and the International Monetary Fund and the World Bank next week, while noting that he expressed his objection obviously to hold a referendum for independence. 

Said Macgork at a news conference at the US embassy building and attended, Alsumaria News, "after I met Prime Minister Haider al - Abadi and parliament speaker Salim al - Jubouri in the two rounds I will go to the province of Arbil this evening to discuss a number of topics."


He Macgork, "I do not want to pre - empted the Iraqi forces, but we are in the final stages to defeat Daesh in Mosul , leaving only 250 meters , " pointing out that "Iraqi security forces suffered casualties and equipment in order to keep civilians, and we commend it."

Among Macgork, "we still have a lot to complete work against Daesh, and now difficult for Daesh movement between Iraq and Syria fighters , " pointing out that "Interpol points of intelligence working to prosecute Daesh around the world and identify them and punish them."

He said the US president 's envoy, said : "Our priority now is to remove mines and explosive and restore basic services to re - displaced in Mosul , " he said, adding that "350 of the re - stabilization projects are underway in western Mosul."

He Macgork, that " the Iraqi government will meet with the coalition forces and the IMF and World Bank next week to discuss support."

On the subject of Kurdistan referendum, he said Macgork "We have given our objection is clear to hold a referendum of independence and we urge dialogue and not to distract the focus on

 

Word on the Street Saturday 7/8/17:
TNT CONFERENCE CALL FRIDAY 7/17/17 DC NY CALL RECAP:
Good afternoon TNT Superfantastic Family. Today is Fantabulous Friday. Lets talk about a few things. Good things happen on Friday. Things are shaping up. It is mysteriously quiet for the good stuff. We are still awaiting information on the ration cards. We have found some citizens no nothing about ration cards and other are very much aware of that it exists but havent received them yet. Things start meaning sense when you go the CBI site and a part of the site is showing 1.2 on USD. Is it in effect this moment or will it be in effect soon. Ration card going out to several provinces with 1000 dinar on its. At the program rate that is $1.00 If it is at a 1.20 rate then it is in the .80 cent bracket. Hearing ration card only have $833 some odd money on it for 1000 dinar at $1.20 equals $833. Everyone is saying that Mosul is liberated and articles that Abadi said it however he has not proclaimed it. He said it is no so till Abadi proclaims it, unless something happens prior to it. Unless activity happens, we will have to wait for the proclamation and supposed to be made maybe today, and that the PM Abadi may make the announcement today of the liberation of Mosul will take place today. We will soon see. We are awaiting the escrow accounts and before June 30th. On the US side, memos went out to banks indicating this week. Memos stated Thursday and to our knowledge that has not taken place publicly but could have privately. When it does materialize , we may engage in certain activity. That is our life story till we no longer have to wait. We are waiting for the public release of these currencies. The banking community looking from last night thru the 15th and any day in between. Q and A: Q: I am looking forward to the meet and greet. Do you think it will be a pre of post RV event. Ray: I think it will be a pre RV event Q: Have you heard if the IMF escrow accounts been released? Ray: Yes I went over that already min the opening statement. Q: With all of the distractions going on G 20, missle tests, would this be a great time to RV? Ray: Sure, I dont' think we need distractions for this to happen. Q: Does this have anything to do with the time or release? Ray: No. Q: I was thinking if the ZIm is considered a bond and not a currency would that fall into a long term investment and capital gains. Ray: Check with a professional. Bonds are redeemed and not exchanged not to my knowledge. Buy a bond at a rate hold it and exchange it for its face value or redeem it. Not sure We need to ask a professional. A currency is whatever the value is. Q: There are different knows of Afghan currency. Do you know which one is going to revalue? Ray: From what I remember, we came to a conclusion 2002 and higher 1000 note Afghani currency was the one to have and that is what the banks were accepting. With the rate change kicking in then 2002 and higher 1000 and higher and dont know the other denoms, but that is what we were told on that. Q: Is the RV in the hands of Iraq, 3 letter agency or another Abadi? Ray: The RV for me is Iraq revaluing the currency. All the other currencies I call the GCR. Is Iraq controlling all of that one would ask? If you are not waiting what is the holdup then. Q: Regarding investment strategy how much post RV IQD should we buy for the dong? Ray: It all depends on your goals and aspirations. Q: Are we the best of the best once the PM announces liberation then immeidiately comes national reconciliation, relief and an increase in purchasing power. Everything should immediatley follow with hours or days and that is the belief and expectation. Callers: Catnip: There is a post on PM Abadi website and he met with President of Parliament. They stress the cooperation and coordination and curious what your people are saying. Do they need to do something and then Abadi proclaims it? Ray: I have no idea on that. They are very famous for saying it is done. Catnip: Parliament was to have met and adjourn to Saturday and here they are meeting on Friday. I look at 7 hours diffference from our eastern time so it is something if they do decide to do things in the early hours overnight. Ray: I have not heard any updated info on that yet. Caller: 607 NY I saw Abadi on TV and he was saying Mosul victory but still ISIS there and the true victory will come later. Ray: This evening would be later. Ray: Thank you. Caller: 773 I carry around a dinar note in my wallet and just wanted to know about the exchange. Did you ever gives suggestions of where to hold your money? Off shore is that an option? Ray: Look into all avenues on that and deal with a wealth manager or personal banker will have some direction of that and see it it fits your plans. Look at all the different avenues on that. Then you will know if it is for you or not. Task force meetings will give you some info from the banking side too. You don't have to rush on that either. Take your time on that. Caller: 501 What is the update on deleting the zeros? Ray: What that means is the 25, 10k notes would not exist. Then the currency would be revalued and it would be 25, 10, and 1 in Iraq. We don't have to worry about that over here. Caller: Gizmo: One of the gurus said if it doesnt go by Sept 15th they it wouldn't go till 2018. What is the reason? Ray: I have no idea on that and what is behind that. Caller: Ohio: How do I access those 52 banks. Ray: After the public release of RV, go to TNT Superfantastic and it will be there. Caller: Ray's Wrapup: There is another news broadcast this evening, and maybe there will be something in that at 11 pm. Something may come out then and for us to know what to look forward too. Looking for more good info to make it an exciting weekend, and reality for sometime next week. We know where we are and just waiting for the final announcements with Iraq and what will happen next. We are on the way, and we are close. That is what I Believe on this Fantabulous Friday. I Believe! How about you? Rayren98
 
 
Forex Rates
 
 
 
Symbol Bid Ask High Low Open Change Time
 USD/IQD   1,179.0000   1,185.0000  1,179.0000  1,179.0000  1,179.0000   0.0000  15:03
 USD/VND   22,744.0000   22,745.0000  22,744.0000  22,744.0000  22,744.0000   0.0000  12:00
 USD/CNY   6.8047   6.8062  6.8047  6.8047  6.8047   0.0000  17:01
 USD/KWD   0.3026   0.3036  0.3026  0.3026  0.3026   0.0000  16:33
 GBP/USD   1.2881   1.2885  1.2881  1.2881  1.2881   0.0000  17:01
 USD/IRR   12,048.0000   12,428.0000  12,048.0000  12,048.0000  12,048.0000   0.0000  17:51
 USD/IDR   13,405.0000   13,419.0000  13,405.0000  13,405.0000  13,405.0000   0.0000  16:58
 
 
CNBC Link:  
 
CNBC Morning Squawk Link: No link on Saturday
 
DC NY Iraq Articles:

Deputy: "Conference of the year" will be held next Thursday in Baghdad and invited the three presidencies

MP Mahmoud al-Mashhadani, on Friday, held a "Baghdad National Conference" known as the "conference of the year" on Thursday in the presence of ministers and deputies, former and former provinces and regions liberated from the organization "Daash."
"The Baghdad National Conference will be held next Thursday, July 13, 2017 in Baghdad, in the presence of the current and former ministers and deputies of the provinces and regions liberated from the organization of the terrorist advocate in addition to academic, religious and tribal figures," Mashhadani said in a statement.
He added that the conference will "discuss the post-conflict and the return of displaced people and stability to those areas." He added that "the preparatory committee of the conference will direct official invitations to the three presidencies in addition to the personalities involved in this conference."
The Information Office of the Prime Minister Haider al-Abadi, on Thursday, to allow the presence of wanted to the judiciary to the conference of Sunni forces to be held in Baghdad, and pointed out that this procedure is exclusively within the jurisdiction of the judiciary.
Sunni figures intend to hold a conference in Baghdad mid-month in the presence of a number of wanted and opponents of the political process.

Canadian general: We will go to Damascus next week

A Canadian general in the US-led coalition said Thursday that the organization was about to lose its former stronghold in Mosul, asserting that the full defeat of insurgents in the city would take place next week.
General David Anderson, who oversees the training of Iraqi forces, said the troops pushed the organization into a last small pocket in the old city of Mosul on the Tigris River.
"Iraqi forces can be seen on the Tigris River from the west, and they are facing an enemy in its final stages," he said in a video call with reporters from Baghdad.
Anderson said the coalition began handing over aid to the Iraqi police to be able to intensify its presence in Mosul and deploy in the city after liberation.
This in-container assistance includes whatever a police unit can need from uniforms to communications equipment, weapons, checkpoint and quad-vehicle equipment.
"Basically, they have everything they need to prove their existence," Anderson said

Jubouri arrives in Diyala and opens Al-Mansouriya power station

Release Date: 2017/7/7 9:43103 times read
 
(Baghdad: al-Furat News) Speaker of the House of Representatives, Salim al-Jubouri, arrived in Diyala province.
A statement of his office received the agency {Euphrates News} a copy of it that Jubouri "opened the Mansouriya gas station in the province of Diyala."
"The Mansouriya station will contribute to addressing the electricity crisis and alleviate the suffering of citizens," Jubouri said. is over 
Source: Agencies
 

Jubouri and Hakim emphasize the importance of initiating reconciliation and reconciliation

BAGHDAD /
7/07/17
Speaker Salim al-Jubouri discussed with the head of the National Alliance, Ammar al-Hakim, on Thursday the developments in the security and political situation in the country and the region, the conduct of battles in the city of Mosul and the start of reconciliation and reconciliation.
A statement by al-Hakim's office received by al-Ghad Press said that the latter received in his office Speaker of the House of Representatives Salim al-Jubouri and discussed with him the latest developments in the security and political situation in Iraq and the region and the near declaration of victory over the terrorist in Mosul and the launching of the national settlement project. The settlement is subject to guarantees, guarantees and mutual concessions. "
He stressed Hakim, according to the statement, on "accompanying security achievements with a political achievement," noting "the need for Iraq to the developmental and social and economic treatments and these treatments are not only a government task, but the task of all political actors."
He called on the House of Representatives to "adopt important laws and direct contact with the Iraqi citizen as well as important laws that affect the structure of the state and the completion of construction," stressing that "the laws have been extensive studies mature," pointing to "the importance of consulting the research bodies in universities and institutions to draft laws "He said.

Agriculture calls for the suspension of non-official imports and domestic product support

Baghdad - Journal News
The Ministry of Agriculture's technical agent, Mahdi Mohammad al-Qaisi, on Friday called on the competent authorities to stop the importation of agricultural products in informal ways, and to cooperate and cooperate to protect and support agricultural crops and the national product.
Al-Qaisi said in a statement to the ministry, which was read by the Journal News, that "there is a national responsibility for all sectors of the society including citizens, clerics, officials, civil society organizations and the private sector to contribute to the development of the local agricultural product and the growth of agricultural crops to achieve food security. Achieving economic, national, health and environmental security ".
He pointed out that "violations in the import of agricultural products are not the responsibility of the Ministry of Agriculture, and can not be held accountable because the law does not allow it, but it is the responsibility of the legislative and executive authorities represented by the Ministry of Interior and National Security and Customs in the control and accountability of those responsible for these violations And illegal imports.
Al-Qaisi called on the private sector and investors to engage in the industrialization of agricultural products through the use of surplus crops from the daily need, through manufacturing or storage in refrigerated warehouses and marketing them when needed, in order to provide additional nutritional and economic value for the local product and national economy.
It is noteworthy that the private sector in Iraq needs serious government care to fix it and tighten control and control of border crossings.
 
Kauaihn Iraq Articles:

The G20 is committed to pursuing terrorists and cutting off their finances

 
Editorial Date:077 2017/772 times scheduled
The G20 is committed to pursuing terrorists and cutting off their finances
The leaders of the Group of Twenty (G-20) said in a statement issued at the end of the first day of their summit in Hamburg on Friday that they had taken broad commitments to pursue terrorists.
In this statement, the leaders stressed that the 20 countries will contribute to the exchange of information between the intelligence, security and judicial services on the issues of joint use of operational information, take precautionary measures and ensure the necessary balance between the requirements of security assurances and data protection and observance of international laws.
In this statement, States are committed to ensuring that terrorists are held accountable and brought to justice.
The leaders of the countries also announced in the statement the decision to cooperate with companies to extend the Internet access service, in order to prevent the use of the Internet and social networks to achieve terrorist objectives.
The statement also called for effective action to cut terrorist financing channels.
The leaders warned of the growing threat posed by small cells and individual terrorists launching "low-cost" attacks.
The leaders also pledged to work to prevent the emergence of bases for foreign terrorists in various regions of the world, as well as to face the threat posed by terrorists returning from conflict areas such as Iraq and Syria.
The statement stressed that the existence of "safe areas" to finance terrorism in any part of the world, is unacceptable, stressing at the same time that such shelters still exist because of non-compliance with international standards.
In this context, States have pledged to intensify measures to strengthen the capacity of regional international actors to eliminate terrorist financing hubs

Judicial decision extends again to prevent the deportation of Iraqis from America

07 July, 2017

A US court on Thursday decided to extend the suspension of deportation of Iraqi migrants to their country until July 24, after the suspension was extended until next Monday.
Judge Mark Goldsmith, who issued the decision, said there was "a strong case" to extend the suspension.
The judge issued a similar decision on June 26, extending the suspension of the deportation of Iraqis until 10 July.
Prior to that, he issued a decision to temporarily prevent deportation until such time as a decision was reached as to who would have jurisdiction in the case.
Iraqi immigrants, mostly religious minorities who have been ordered to be deported from the United States, have sued the US government to avoid being returned to their homeland where they fear persecution.
Immigration and customs authorities arrested 199 people, mostly Christian Chaldeans or Christian converts, as well as Shi'ite Muslims in Detroit, Michigan, last weekend, their lawyers said.
Source: Agencies

UN: 20,000 civilians in "high danger" west of Mosul

Mustafa Al - Obaidi

Jul 07, 2017
Mosul: The city of Mosul on Thursday morning, dozens of explosions that rocked the city, as a result of heavy shelling on the sites of "Islamic State" in the western region of the city, and fierce battles taking place.
According to Iraqi military sources, «fierce battles waged by Iraqi forces in the rest of the western region where the remnants of the elements of the organization, in an attempt to resolve the battle and end the resistance of the fighters of the besieged state».
Security forces were seen deployed heavily at the intersections and near the government departments in anticipation of any security breaches affecting the course of the fighting.
According to Lieutenant General Abdulwahab al-Saadi, Deputy Commander of the Counter-Terrorism Bureau, only 100 meters away from the edge of the Tigris River, which separates the northern city of Mosul from two parts.
He pointed out that «fierce battles are now taking place in the alleys of the old city of Mosul .. The remaining weapon of state organization is suicide bombers and snipers only».
He said: "The forces of the counterterrorism agency killed yesterday from the dawn of ten suicide bombers from the state organization wearing explosive belts, while advancing in the area of ​​the field within the old Mosul.
The commander of the operations of Nineveh Major General Najm Jubouri, announced that yesterday, is the deadline for the declaration of full liberation of the city of Mosul.
But the Joint Operations Command denied what was being circulated about setting a date for proclaiming victory over the "state" and confirmed that its units were continuing to advance until the liberation of the remaining parts of old Mosul.
She pointed out that «the announcement of the complete liberation of Mosul will be by the commander-in-chief of the armed forces Prime Minister Haider Abadi».
According to military sources, the bombing of houses by the "state" and the presence of civilians used by the organization, human shields, has affected the progress of Iraqi forces that
Near the completion of the restoration of the last strongholds of the «State», the old town on the western side of Mosul, where it controlled more than three quarters of the old city, which is about 2 square kilometers.
Twenty thousand people are still trapped in areas controlled by the organization in western Mosul, according to UN humanitarian coordinator in Iraq, Liz Grande, noting that these are in "great danger."
"Our estimate at the present stage is that in the last pockets of the old city, there may be about 15,000 civilians, and perhaps 20,000," she said.
"Those stranded in these pockets are in dire straits. "We see very disturbing images of people who have been denied food for long periods of time, who are very vulnerable."
"They are in great danger from shelling and mutual artillery fire. The fighters (from the Islamic state organization) who are still there target civilians directly if they try to leave. "
The fighting has displaced some 915,000 people from their homes in Mosul, and about 700,000 of them are currently displaced, according to Grandi.
"We have crossed the threshold of the worst scenario in over a month," said the UN coordinator. In the worst of our scenarios, we expected 750,000 people to leave. " "There are 44 residential neighborhoods in western Mosul. Six of which were almost completely destroyed (...) 22 lives on average, and 16 slightly ».
According to a preliminary assessment, the first phase of "stabilization" in western Mosul, which includes basic services, infrastructure, housing, education and police stations, will cost $ 707 million, according to Grandi.
She explained that this figure is double the figure expected «because the level of damage in western Mosul is much higher than we feared.
In parallel, 43 members of the "State" organization were killed during an attack on Iraqi army forces in a village in the province of Shirqat, north of Salahuddin province, north of the country, according to an official statement.
The military information cell, an official institution affiliated to the Ministry of Defense, said in a statement that "the pieces of (forces) operations Salah Eddin (an army) foiled the operation of gangs, the terrorist advocate on our units located in the village of Khardaniya in the province of Shirqat north of Salahaddin province.
The statement added that "they were answered (strongly) strongly and firmly, and killed 43 terrorists."
For his part, Major Yasser al-Tamimi, of the Iraqi army that «the Iraqi army forces arrived in the district of Sharqat and strengthened its presence in the outskirts of the judiciary to repel any attacks expected elements of the state organization».
He explained that «the tribal mobilization forces reached the outskirts of the judiciary to support the army forces after receiving information about the intention of the elements of the organization to repeat the attack».
Militants have stepped up their attacks over the past weeks in areas between the northern provinces of Diyala, Kirkuk and Salahuddin, mountainous areas that Iraqi security forces face difficulty controlling.
The organization lost large tracts of land seized by the summer of 2014 in the provinces of Diyala, Nineveh, Anbar and Salahuddin.

International coalition: roll out "full" from Mosul next week

July 7, 2017   Baghdad - Journal News
The US-led coalition has announced that "an imminent organization is about to be defeated from its former stronghold in Mosul," stressing that "the terrorists will be completely defeated from the city by next week."
"These forces pushed a small pocket into the old city of Mosul at the Tigris River," General Dave Anderson, who oversees the training of Iraqi forces, said in a video call from Baghdad on July 6, 2017. France Press agency.
"Iraqi forces can be seen at the Tigris River from the west, and they are facing an enemy in its final stages," he said.
Asked about the number of people who had called on the rest in Mosul, the general said he did not know, but said he "no doubt" that none of them would be there next week.
Anderson said the coalition had begun handing over aid to the Iraqi police to be able to intensify its presence in Mosul and deploy in the city after the preparations.
He said the aid included everything a police unit could need from uniforms to communications equipment, weapons, check-in equipment and quartet vehicles.
The Iraqi forces continue to tighten the screws on the militants, "Dahesh" and inflicted heavy casualties in the city of Mosul is expected to announce the full restoration of the city next week.

Larijani: Iran's decision to confront terrorists in Iraq and Syria is "right"

"Iran's decision to confront the terrorists in Iraq and Syria was correct," Iranian parliament speaker Ali Larijani said Friday.
"The creation of a conflict between Sunnis and Shiites is a new plot by the enemies and the raising of issues that the United States is pursuing in the Senate is aimed at ratifying new sanctions against Iran," Larijani was quoted by the Tasnim news agency as saying.
"Iran, whose president and deputies are elected through popular democracy, is isolated," he said, adding that Saudi Arabia, which has not yet held any kind of election, is "advanced."
The head of the General Staff of the Iranian Armed Forces, Major General Mohammad Baqari, praised the role played by his country's forces in "keeping pace with the Islamic resistance" in Iraq and Syria, saying that it has become a "security shield for the Iranian people."
"The IRGC, through its support and current support for the Islamic resistance in Iraq and Syria, has made itself a security shield for the Iranian people and for the Islamic nation," Bagheri said.
 
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GLOBAL/NEWS/INFO

The 125 most important finance people you have to follow on Twitter
Business Insider

Bill Ackman, one of the most famous hedge fund managers and founder of Pershing Square Capital, joined twitter last week. While @billackman1 has yet to tweet, some of his rivals and industry counterparts have been tweeting for a while. With huge names like Carl Icahn, Ray Dalio, Lloyd Blankfein, Jeff Gundlach and Ben Bernanke spewing 140-character nuggets, the social network is a platform for serious finance gurus. Beyond the jabberings of the small-time players, these CEOs, hedge funders, and Read the full story

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OIL / COMMODITIES / ENERGY
Gold prices slip near 8-week lows on stronger dollar
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Global gold prices edge down, set for biggest weekly drop in two months
Livemint
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MarketWatch
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Oil prices slide nearly 3% after volatile session
MarketWatch

Oil futures fell Friday, following a price spike after U.S. data showed a larger-than-expected decline in weekly crude supplies. Read the full story

Oil prices plummet 3 percent on oversupplied market
Reuters

Oil prices fell 3 percent on Friday after data showed U.S. production rose last week just as OPEC exports hit a 2017 high, casting doubt over efforts by producers to curb oversupply. Read the full story

BANKS / BANKING
Banking could be at historic turning point with successful stress tests
Washington Examiner
In early May of 2009, with the U.S. economy still losing hundreds of thousands of jobs a month, federal regulators announced the results of "stress tests" they had conducted on the country's beleaguered big banks. After simulating what would happen to banks in the case of another financial crisis, government officials revealed that the institutions were close to healthy. "With the clarity that today's announcement will bring, we hope banks are going to get back to the business of banking," Read the full story

Citi Pay Launches In The USPYMNTS.com
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Bank-Disposal Chief Says Italy Aid Shows Failure-Rule Flaws
Bloomberg

Elke Koenig, head of the European Union's (EU) Single Resolution Board, looks on during a panel discussion at the German Institute for Economic Research in Berlin (DIW) women's finance summit in Berlin, Germany, on Tuesday, May 23, 2017. Germany's business confidence rose to the highest since 1991 this month, while manufacturers saw the fastest growth in six years amid a surge in orders. Bank failures in Italy and the drawn-out rescue of Banca Monte dei Paschi di Siena SpA revealed the frayed Read the full story

US seeks North Korea funds from eight international banks
Livemint

New York: US prosecutors disclosed an effort to seize millions of dollars linked to North Korean entities from eight global banks after tensions with Pyongyang escalated over the fourth of July holiday. Read the full story

Reserve Bank independence must be protected, says banking association
Engineering News

The Banking Association South Africa (Basa) said on Friday that it had noted statements made during the African National Congress (ANC) National Policy Conference about the South African Reserve Bank (SARB). This comes after the chairperson of the ANC’s economic transformation commission, Enoch Godongwana, said that the party had resolved to keep the bank independent, but to investigate the possibility of changing its ownership. Read the full story



TREASURIES/ BONDS/ STOCKS
If this ominous pattern holds, it may be time to bail stocks and load up on commodities
MarketWatch

Over the past half-century, commodities have never been cheaper relative to equities than they are right now. While the stock market continues to bang out new highs, an eerie calm hangs over the commodity trading pits. Read the full story

Opinion: These 8 threats to the stock market’s eerie calm should make you worried
MarketWatch

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Hedge fund bets on a smooth stock market may backfire after finally going too far
CNBC

As measured by short interest in the iPath S&P 500 VIX Futures exchange-traded note (VXX), bets against market volatility are at a record. Read the full story



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Swiss Re Institute’s latest sigma report: Global insurance premiums up 3.1% in real terms in 2016
EuropaWire
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CURRENCIES
Dollar rebounds after ‘taper tantrum’ with U.S. jobs in view
MarketWatch

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Dollar holds onto modest gains with U.S. jobs data on tapInvesting.com
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USD inflows behind drop in foreign currencies - CBE
Mubasher
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Pound falls after UK industry and trade data disappoint; investors await US jobs data
The Telegraph

World stocks at lowest level since May as oil slump weighs Oil prices fall by more than 1pc on rise in US output Pound hits nine-day low against euro after UK industry and trade disappoint Investors eye US jobs report Read the full story

Pound to euro exchange rate: Sterling PLUMMETS to week-low as Brexit volatility continues
Daily Star

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NZ dollar falls vs euro
Scoop

July 7 (BusinessDesk) - The New Zealand dollar fell against the euro after minutes of the last European Central Bank meeting showed policymakers discussed ending the bank's extraordinarily stimulatory monetary policy at their June 8-9 meeting. Read the full story

Rupee strengthens marginally against US dollar
Livemint

Mumbai: The Indian rupee on Friday strengthened marginally against the US dollar in opening trade. Read the full story


The Bank of Japan just went on another bond buying spree and now the yen is getting smashed
Business Insider

Bank of Japan Governor Haruhiko Kuroda smiles as he leaves the International Conference on the Future of Asia in Tokyo May 24, 2013. Sovereign bond markets around the world are under pressure with yields continue to push higher on the back of hawkish central bank talk. And that includes Japanese Government Bonds, or JGBs. In order to prevent a rise in yields of a magnitude seen in other markets, the Bank of Japan (BoJ) went all-in earlier today, pledging to buy an unlimited amount of 10-year Read the full story

Forex - Yen gains slightly after wages data better than expectedInvesting.com
Yen gains in Asia Read the full story


USA
US economy adds more jobs in June than expected
Fox News
The U.S. economy added 222,000 net new jobs in June, beating expectations for 179,000 jobs. Read the full story

U.S. job growth accelerates in June, but wages continue to lag
Reuters
U.S. job growth surged more than expected in June and employers increased hours for workers, signs of labor market strength that could keep the Federal Read the full story

Interior Chief Signs Order To Boost Oil, Gas Development On Federal Lands
HuffPost

WASHINGTON — Interior Secretary Ryan Zinke, who has met with a slew of oil and gas executives since taking over the federal agency, signed an order Thursday to expand fossil fuel production on federal lands. ... Read the full story

Atlanta Fed lowers U.S. second-quarter GDP view to 2.7 percent
Reuters

The U.S. economy is expanding at 2.7 percent annualized pace in the second quarter based on the latest data on vehicle sales, factory orders and trade balance, the Atlanta Federal Reserve's GDP Now forecast model showed on Thursday. Read the full story



EMERGING MARKETS
The Latest: Emerging economies meet on sidelines of G-20
The Palm Beach Post
The Latest on the Group of 20 summit in Germany (all times local): Read the full story

Emerging Market Currencies Weak: Why Anxiety Now?
Barron's
The Argentine peso and Turkish lira are weaker, but the Russian ruble is stronger as President Trump travels in Europe. Read the full story



MIDDLE EAST
Saudi Aramco crude output rose to annual record in 2016
Energy Voice
Saudi Arabian Oil Co., the world’s largest oil exporter, increased production to an annual record last year before the kingdom led OPEC and other major producers to curb output to counter a global oversupply. Crude production averaged 10.5 million barrels a day compared with 10.2 million barrels in 2015, the state-owned company known as Aramco said in its annual review published Thursday on its website. Crude oil and condensate reserves stood at 260.8 billion barrels compared with 261.1 billion Read the full story



AFRICA
Germany Pushes Africa Onto G20 Agenda
AllAfrica
Germany Pushes Africa Onto G20 Agenda German Chancellor Angela Merkel has been a staunch supporter of Africa's developmental needs such as a more equitable trade regime ahead of the Group of 20 summit - an international forum for the governments and central bank governors from 20 major eco Africa: Gates Praises Merkel's Role in African Development Ahead of G20 Talks Africa: Merkel Must Fight to Keep Africa a Priority At the G-20 Summit Africa: Young Africans - 'We Need Respect and Equality' Read the full story


Opinion: Merkel must fight to keep Africa a priority at the G-20 summit
DW
As Germany plays host to the G-20, Chancellor Angela Merkel can be excused for feeling she is on the verge of inheriting the leadership of the rich world from a clueless and rudderless United States under Donald Trump. The question that comes to my mind is whether she will have enough time to spare for Africa's perennial economic problems. The world's club of the rich opens its summit in the northern port city of Hamburg this Friday with an unusually heavy agenda, dealing with such weighty Read the full story

Visa pushes further into Africa (V)
Business Insider UK

BII This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. Visa has partnered with Interswitch, Africa's integrated payments and transaction solutions company, to bolster adoption of mVisa, the card network’s mobile payment solution, according to Vanguard. See the rest of the story at Business Insider See Also: FIS extends Cardless Cash offering The Eurozone is upgrading to instant payments Mobile banking is on the rise in the Read the full story


Young South African created the biggest tech-development tool to come out of the non-profit space in Africa
Good Things Guy

A young South African entrepreneur had an idea to create social change on a digital platform, three years later and his concept has grown into one of the most innovative ways to give back in Africa. On 14th September 2014, a small non-profit organisation was formally registered. At the time, this baby organisation had... Read the full story


ASIA

China Blasts G-20 Over Trade as Trump and Putin Shake Hands
Bloomberg
Disagreements Between Super Powers at the G-20 Chinese President Xi Jinping took a swipe at the U.S. for retreating from globalization, exposing the tensions before a meeting of world leaders divided over everything from trade and climate change to handling North Korea’s provocations. As Group of 20 leaders met in Hamburg at the start of one of the most highly-anticipated summits in years, U.S. President Donald Trump and Russia’s Vladimir Putin shook hands, a symbolic initial encounter ahead of Read the full story

Asian markets pressured after softer US close and rise in bond yields
CNBC

Stocks in Asia closed mostly lower on Friday after the weaker close stateside and as global bond yields rose overnight. Read the full story

EUROPE
The European Union Has a Currency Problem
The National Interest

Milton Ezrati Economics, Europe Germany is largely to blame for it. Donald Trump, for all his rhetorical clumsiness and intellectual limitations, still sometimes makes a valid point. He does when he says that Germany is “very bad on trade.” However much Berlin claims innocence and good intentions, the fact remains that the euro heavily stacks the deck in favor of German exporters and against others, in Europe and further afield. It is surely no coincidence that the country’s trade has gone from Read the full story

Brexit Bulletin: U.K. Plc Heads to Country House
Bloomberg
Non-stop business knowledge Get more on The Bloomberg App Sign up to receive the Brexit Bulletin in your inbox, and follow @Brexit on Twitter. It’s the hottest ticket in town for Britain’s business titans. Bankers including Jes Staley of Barclays and HSBC’s Douglas Flint, retailers such as Tesco’s David Lewis as well as Carolyn McCall of easyJet and Gavin Patterson of BT will on Friday head for talks with Brexit Secretary David Davis at his country retreat south of London. The full guest list is Read the full story

EU in 'battle mood' if US brings in protectionist measures for steel
the guardian
Jean-Claude Juncker says EU would react with counter-measures within days to any action by Donald Trump The European Union is prepared to impose counter-measures within days if Donald Trump takes action to protect the US steel industry, the European commission president, Jean-Claude Juncker, said on Friday. In one of the most serious warnings of a tit-for-tat response if the US resorts to protectionist measures, Juncker said the EU was “in elevated battle mood”. Targets could include American Read the full story

European stocks fall as ECB minutes still weigh; Dax down 0.21%
© Reuters. Frankfurt Stock Exchange Read the full story
 
Blessed and Highly Favored:
 
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Closed on Saturday
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Closed  on Saturday
 

Rafidain reveals the fact that the sale of the dollar stopped in a number of branches

Editorial date: 2017/7/8 12:4176 times read
(Baghdad: Al-Furat News) Rafidain Bank, on Saturday, the reality of the news that talked about the sale of the dollar to citizens in a number of branches in Baghdad and the provinces.
The bank's information office said in a statement received by the agency {Euphrates News} a copy of it today that "the bank continues to sell the dollar at three thousand dollars per person for one thousand and 200 dinars per dollar," denying "the news that stopped selling the dollar to citizens in a number of branches Baghdad and the provinces. "
He explained that "the branches allocated for the sale of the dollar are the Arab neighborhood, the General Secretariat of the Council of Ministers, the Kadhimiya, the role of the officers, the Zuwayyah, the Firdous Square, the Ministry of Defense, the Caliphs, Palestine Street, Muthanna, Basrah, Amarah, Ur, Kirkuk) "
 
Kauaihn Chatter
 
 
7-8-2017   Intel/Newshound Guru tman23   So the fact is that at some point of time, the CBI is going to lift the 3 zeros. It is not going to be a slow process such as lifting 1 zero in September, 2nd zero in October and the last zero in the future...It is going to be all 3 zeros at the same time! And when they lift the 3 zeros it will happen OVER NIGHT per se'...And how they treat the 3 zero notes at the exchange window will determine if there was an over night RV per se'...

7-8-2017   Newshound Guru Aggiedad77 
  IMO today we have seen good things pointing to the LL [Long Line?]  waiting on Iraq and getting restless for some action...they know the investment they stand before is ripe ...we of the LL are standing directly in the middle of Iraq's door awaiting it to open...disorderly like a Wal-Mart Black Friday sale...oh heavens no...We are professionals who have stood in this LL against the hands of time and know the bell will soon be tolling in our favor... IMO.
7-7-2017   Intel Guru RayRen98  There are news articles today that suggest Mosul is now liberated and the PM may make an...announcement or proclamation about Mosul maybe made today.  Friday afternoon there is another news broadcast for Iraq...Looking to hear more information...making it an exciting weekend and throw us into an exciting reality for next week.  We know where we are basically and awaiting final announcements...and await to see what happens next.  We are on the way.  Headed there and we are close.  We are waiting for the green light of the public release of the RV.   [post 2 of 2]

7-7-2017   Intel Guru Dr. Clarke 
   “LOGIC”:  Oh, Iraq could absolutely DO NOTHING with their Dinar Currency...for the rest of 2017. They could just SIT on things, just because. No problem. They could just sit, start rebuilding their trashed country, and all at the while ousting more crooks, politicians and terrorists, until next year, when everything settles down a little more, and they have things more under control, more stable, more organized.  ...it’s somewhat of a “Safe Bet”, looking at the Past History of things.  HOWEVER, We Don’t Think So! This is a BIG Weekend!...(Sat. night into Sunday)  Watch the CBI Website Change in the next few days...oh, dis about to get...Woo Woo.  “FOR PLEASURABLE ENTERTAINMENT PURPOSES ONLY”...you aint seen Nothin Yet!

7-7-2017   Intel Guru Frank26   [Please tell me about status of HCL and Kurds voting to leave iraq.]    ...HCL IS FINE...WAITING FOR A RATE...IT IS BURIED WITH A RIDER IN BUDGET...KURDS ARE GOING...NOWHERE! ...IMO.

7-7-2017   Newshound Guru Adam Montana   [I personally find it more than frustrating that HCL was supposed to be on the agenda at the beginning of each of the last few sessions, but ultimately wasn't.]   I feel your frustration with the HCL, particularly since it's truly the key piece to this puzzle. But I also feel like we are on the right track finally, and now it's just a matter of a short time.
 
7-7-2017   Intel Guru RayRen98   ...“things are shaping up and I can’t wait to hear more.”  That’s from the intel sources across the pond.  Things are mysteriously quiet for the “good stuff.”  Still waiting on information about the data cards.  Not a surprise we have found some citizens who know nothing about the data card and that it exists.  And other citizens who are very aware of it...Hard to find solid information on it.  For instance, on the CBI site...the $1.20 information – sometimes it’s there and sometimes it isn’t.  The ration card going out is going to have 1,000 dinar on it.  If you look at the 1.2 rate that puts it in the .80 cent bracket...only have $800 some on it.  To me comes out $830 and make the rate of 1.2 effective for calculation purposes.  We await updates on that information.   [post 1 of 2....stay tuned]

7-7-2017   Intel/Newshound Guru tman23 
   G20 is today, Friday and Saturday... Finance Ministers, Bankers, and World Leaders...along with IMF and World Bank... Then Sunday Iraq representatives along with the International Coalition will be traveling to Washington DC to meet for Post Mosul and reconstruction of Iraq agenda... The itinerary will be laid out...the planning stage was being done long ago...And for those who wonder about Mosul and small area to be taken...this should give you an idea of what they are dealing with...Iraqi soldiers increasingly accuse civilians still inside the Old City of being relatives of IS fighters.

7-7-2017   Newshound Guru Aggiedad77   Article:  "Iraq’s Economy is Rising"  Quote:  "The main driving force behind Iraq’s economic growth is the wealth of natural resources reflected in a large number of oil and gas fields which are now open to international trade.  Companies from around the world are investing into the development of these resources"   ...it appears to me they are in the process of stirring up some good PR for themselves...watch for the results as next week unfolds before our eyes...keep in mind the 10th-15th...and what falls right in the middle of it all...the 12th...it can't get any better IMO...watch for the BEST to come...another hot week IMO.

7-7-2017   Newshound Guru Phillyman   Article:  "IRAQ SLOWS ADVANCE ON LAST ISIS POCKET IN MOSUL PACKED WITH CIVILIANS As close as they are to wrapping this up the concentration of civilians and trying to preserve their lives has had its impact on operations.

7-7-2017  Intel Guru Frank26    [...what's the date of the DC meeting or did it happen already?]  WE FEEL THAT NEXT M [MONDAY?]  THEY WILL START TO ARRIVE IN TEAMS OVER A FEW DAYS.  [...do you expect to see the rate before they go to DC? ...NO.   DC IS A REPORT CARD...NOT THE EVENT OF THE RV  IMO...IT IS TOO EARLY FOR PEOPLE OUTSIDE OF IRAQ TO SEE THE PRICE CHANGES AT THIS MOMENT...MUCH MORE NEXT WEEK AND LOTS MORE AFTER THE 21ST PAYDAY.  [...who from our side will be at DC mtg with Iraq?]    EVERYONE! UST, FEDS, WB, IMF, ME...I MEAN MIDDLE EAST...LOL.  [When do you suspect the DC meetings will conclude and Iraq delegation returns to Iraq.]  END OF NEXT WEEK... UNLESS THINGS ARE CHANGED ON THE MEETINGS.  [IYO, could it make sense for Abadi to time the announce to the world, that Mosul is fully liberated, soon after CBI delegation return from receiving a good grade on their report card in DC?]    YES.  [...is the 10th-15th still critical watch dates?]  OH YES!
 
7-7-2017   Newshound Guru Adam Montana   [Mosul is liberated...the elections have been postponed until 2018...Banks are being held accountable...Things are looking good!]   YEP!

7-7-2017   Intel Guru Bruce
   It's an orchestrated start for all to take part in this blessing together at the same time...The release is right here. It could happen right before the G20 gets under way.  I can't call it, but we are looking very, very good for this to take place.  All the intel is looking great. Everything looks really good…like it could happen at any moment.

7-7-2017   Intel/Newshound Guru tman23   ...it's all about the 3 zeros...and nothing but the 3 zeros!   AND the speculation is how will the 3 zero notes we hold be treated at the exchange window.   ...The only thing the have said is they are going to lift 3 zeros from the currency AND the existing currency will be along side of the new currency in the marketplace for an estimated 2 years (which they expect the timeline for it to be out of circulation) BUT it will be exchangeable for a period of 10 years...(which indicates you may have to go directly to the CBI)...This is the jest of what has been in print...over and over again
 
Elmer:
 
Not in today
 
Artmeister:
 
Not in today
 
Catnip:
 
ARTICLE 1 (from PM Abadi's website; posted only on Arabic side, not posted on English side)

Prime Minister Dr. Haider Al-Abbadi receives Speaker of the House of Representatives Dr. Salim Al-Jubouri

Prime Minister Dr. Haider Al-Abbadi received in his office on Friday Speaker of the House of Representatives Dr. Salim Al-Jubouri.
During the meeting, we welcomed the victories achieved by our heroic forces, the approaching conclusion of the battle of Mosul, and the emphasis on continuing to liberate the entire territory.
The political, economic and security situations were discussed and efforts were made to unite efforts and speeches to preserve the achievements and unity of the Iraqi people.
Dr. Abbadi reiterated the commitment to the Constitution and the separation of powers and non-interference in the judicial affairs and wanted to the judiciary.
It was also stressed the importance of cooperation and coordination between the executive and legislative authorities to legislate the laws and everything that serves the citizen.

Prime Minister 's Media Office
7 July 2017

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ARTICLE 2-A

Parliament completes first reading of revised budget bill 2017

2017/7/8 13:06
[Ayna-Baghdad]
The House of Representatives ended the first reading of the draft federal budget amended general law for fiscal year 2017 .. Followed

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ARTICLE 2-B

The Iraqi Parliament approves the amendment of the Law of the Republic of Iraq and its seal No. (85) of 1965

BAGHDAD - Iraq's parliament on Saturday held the third ordinary session of the current legislative term headed by Jubouri and his press office that "the parliament voted to amend the law of the emblem of the Republic of Iraq and stamped No. (85) for the year 1965."

"The session includes voting on the draft law regulating the commercial agency and voting on the draft law on the reform of inmates and depositors and the draft law amending the Law of the Republic of Iraq and its seal No. 85 of 1965 and the wording of a decision on the non-acceptance of the nomination of members of the current Board of Commissioners to membership Commission of Commissioners of the Independent High Electoral Commission ".
He added that "the meeting also includes the first reading of the draft federal budget amended general law for the fiscal year of the current year and the first reading of the draft amendment of the second law of the Central Bank of Iraq issued Order No. 56 of 2004 on the Coalition Provisional Authority dissolved," noting that "the session also includes reading Report and discuss the law of the State Council and read the report and discuss the law of the Union of Iraqi Publishers in addition to the introduction of a general topic for discussion by MP Ahlam Husseini on the management of state institutions and established by proxy. AH

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ARTICLE 3

Urgent Yaninoi: the liberation of the door of brick and the market and the market and Alnajvi Street

2017/7/8 11:47
[Ayna-Baghdad]
Yanui Brigade Operations Command announced the liberation of the entire brick door, the dyeing market and the Najafi Street in the old city of Mosul.
"The Federal Police Forces have completely liberated the brick door and the market of Al-Sagha and Al-Najafi Street, and thus have completed the tasks assigned to it," the statement said. In the old city and the right-hand coast of Mosul. "

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ARTICLE 4

URGENT Amir Bada'ash and seven of his companions were killed in Mosul

2017/7/7 17:39
[Ayna-Baghdad]
The security forces killed Amir Bandbat and called the terrorist in the old Mosul on the right side. "The nine divisions of the ninth division killed the terrorist named Abu Zaid, who has the status of Amir Bada'sh, along with seven of his companions near the Sheikh Al-Shat mosque in the old city of Mosul," the statement said.
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ARTICLE 5

Counterterrorism: Today or tomorrow we announce the resolution of the battle of Mosul

NINEWA, July 7 (Xinhua) - The anti-terrorism agency said Friday that a few meters away from reaching the banks of the Tigris and announcing the decision to resolve the battle of Mosul today or tomorrow.
"At least 50 people were killed in the area of ​​Al-Maidan, where the majority of the organization's militants are trapped and the anti-terrorism apparatus continues to advance through the old neighborhood in the old town," said Lieutenant General Abdulwahab al-Saadi.
"We are moving slowly and cautiously to avoid causing losses to the besieged civilians, who are being taken by terrorists, who are calling for human shields in this narrow area of ​​the neighborhood, and the battle is coming very close today or tomorrow at the latest." AH

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ARTICLE 6

Omnia Mosul: The city is completely liberated and the announcement of the victory is not understood

Nineveh - Iraq Press - July 8: The security committee in the Nineveh Provincial Council, said on Saturday that "the joint security forces already control the old Mosul," pointing out that "a meeting held two days ago with the security leaders and counted the rest of the Uninhabited areas of old Mosul, which are only 80 meters of the total area of ​​the old city, "he said.
"Based on these facts, it was agreed to declare full control over the old Mosul on Friday, but for other reasons the strategy changed and it is possible that another agreement has been signed and announced today," Mohammad Ibrahim said.

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