Word on the Street Tuesday 2/27/18:
Forex Rates:
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD | | | 1,168.0000 | 1,168.0000 | 1,168.0000 | | 20:00 |
| USD/VND | | | 22,704.8000 | 22,426.0000 | 22,426.0000 | | 02:25 |
| USD/CNY | | | 6.3185 | 6.2881 | 6.3151 | | 06:24 |
| USD/KWD | | | 0.2995 | 0.2988 | 0.2992 | | 06:08 |
| GBP/USD | | | 1.3994 | 1.3944 | 1.3969 | | 06:24 |
| USD/IRR | | | 12,048.0000 | 12,048.0000 | 12,048.0000 | | 17:51 |
| USD/IDR | | | 13,686.0000 | 13,639.0000 | 13,657.0000 | | 06:21 |
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DC NY Iraq Articles:dd
Parliamentary Finance discusses the addition and cancellation of some paragraphs of the budget to be presented tomorrow in Parliament
27/02/2018
Baghdad / Al-Ghad Press:
The Finance Committee discussed on Tuesday, the addition and cancellation of some paragraphs of the budget to be presented tomorrow in the House of Representatives.
The correspondent of "Al-Ghad Press", that the Finance Committee parliamentary discussed, today, the budget of 2018 to add and cancel some paragraphs in the budget to be put on the agenda of parliamentarians on Wednesday.
The Finance Committee discussed on Tuesday, the addition and cancellation of some paragraphs of the budget to be presented tomorrow in the House of Representatives.
The correspondent of "Al-Ghad Press", that the Finance Committee parliamentary discussed, today, the budget of 2018 to add and cancel some paragraphs in the budget to be put on the agenda of parliamentarians on Wednesday.
He added that the meeting was free of the presence of the Kurdish component.
The member of the Legal Committee of Parliament, Zana Said, confirmed on Sunday, that it is necessary to resort to the consensus to pass the budget in the event of the inability of the masses and parliament to do so.
Jubouri conveys Baghdad's thanks to the Amir for supporting Mesopotamia at various levels
His Highness: We are steadfast in supporting Iraq's unity His Highness Sheikh Tamim bin Hamad Al Thani, the Emir of the State of Qatar, received HE Dr. Salim Abdullah Al-Jubouri, Speaker of the House of Representatives of the Republic of Iraq. Al-Jabouri thanked His Highness the Emir's leadership and people for the efforts of the State of Qatar in supporting Iraq at various levels, especially in the fight against terrorism, in addition to the great support that the State of Qatar has pledged for the reconstruction of Iraq at the international conference recently hosted by Kuwait.
For his part, HH the Emir affirmed Qatar's firm stance and supports the unity, security and stability of Iraq.
"The IMF expects the global growth rate to reach 3.9 percent in 2018 and 2019. There was no change in expectations from January, but it is higher than that of the IMF," IMF Managing Director Christine Lagarde told a fund conference in Jakarta to prepare for the Bali annual meetings in October. 3.7 in 2017 ".
"The Association of Southeast Asian Nations (ASEAN) is ready to raise interest rates in advanced economies such as the United States and Europe, but warned that policymakers need to be cautious about the impact on financial stability and volatility of capital flows," Lagarde said.
"It is not clear how this shift will affect other countries, companies, jobs and profits, and the Association of Southeast Asian Nations (ASEAN) should adopt new growth models that focus more on domestic demand, regional trade and diversity," she said. Economic preparedness for technological changes such as greater reliance on machinery, industrial intelligence, biotechnology, new financial technologies and digital currencies. "
"Some jobs should be abolished, but it is important that countries strengthen workers' education efforts so they can better prepare for new technology,
Indicating that there are a large number of jobs will be affected in one way or another, some will disappear but more will be affected by the expansion of dependence on machines so we need to think about the future of work, adding that there is no one direction and that each country to determine the course to go.
For his part, HH the Emir affirmed Qatar's firm stance and supports the unity, security and stability of Iraq.
US Embassy: A monitoring program will be launched on government spending in Iraq
(Independent) .... The United States Agency for International Development (USAID) said it will launch a "Takamul" program that will support the Iraqi government in terms of economic reform, public financial management, monitoring and public spending.
The agency said in a statement that it will launch tomorrow at the Babylon Hotel, in the presence of US Ambassador to Iraq Douglas Silliman, representatives of the Iraqi government from the Ministry of Planning and the Supreme Coordination Council and other government institutions, the program "Tamkul" funded by the Agency American Development Agency. .
The statement added that the program "Takamul" will support the Iraqi government in terms of economic reform and public financial management and control and supervision of public spending, and improve the response to the needs of citizens in various provinces of Iraq and provide services through supporting economic reform initiatives led by Iraq.
The agency invited media organizations interested in attending and covering the celebration, confirming their presence by e-mail or telephone altwalsn@state.gov
IMF: High Global Growth There is a change in the international economy
27/02/2018 / tomorrow Press:
The International Monetary Fund (IMF) said on Tuesday that the global economy is showing wide-ranging growth, but the overall picture is changing as the risks of trade disputes, monetary policy normalization and technological changes increase.
The International Monetary Fund (IMF) said on Tuesday that the global economy is showing wide-ranging growth, but the overall picture is changing as the risks of trade disputes, monetary policy normalization and technological changes increase.
"The IMF expects the global growth rate to reach 3.9 percent in 2018 and 2019. There was no change in expectations from January, but it is higher than that of the IMF," IMF Managing Director Christine Lagarde told a fund conference in Jakarta to prepare for the Bali annual meetings in October. 3.7 in 2017 ".
"The Association of Southeast Asian Nations (ASEAN) is ready to raise interest rates in advanced economies such as the United States and Europe, but warned that policymakers need to be cautious about the impact on financial stability and volatility of capital flows," Lagarde said.
"It is not clear how this shift will affect other countries, companies, jobs and profits, and the Association of Southeast Asian Nations (ASEAN) should adopt new growth models that focus more on domestic demand, regional trade and diversity," she said. Economic preparedness for technological changes such as greater reliance on machinery, industrial intelligence, biotechnology, new financial technologies and digital currencies. "
"Some jobs should be abolished, but it is important that countries strengthen workers' education efforts so they can better prepare for new technology,
Indicating that there are a large number of jobs will be affected in one way or another, some will disappear but more will be affected by the expansion of dependence on machines so we need to think about the future of work, adding that there is no one direction and that each country to determine the course to go.
A government official calls for precautionary measures from the collapse of Mosul Dam
Editorial date: 2018/2/27 11:58 • 184 times read
(Baghdad: Al Furat News) A senior government official stressed the need to take precautionary and proactive measures to counter possible dangers to the country such as the collapse of the Mosul Dam and the low level of water of the Tigris River.
The governor of Baghdad, Awan al-Atwani, presided over the first meeting of the committee of the Civil Defense Department of the province of Baghdad in the presence of the United Nations representative for UNDP and representatives of ministries and government efforts that "these actions are a national task requiring concerted efforts and cooperation seriously."
"He expressed thanks and appreciation to all those present for their understanding of the importance of the management of the work of civil defense and its effective impact in protecting the population and public and private property as well as reducing the size of losses and the impact on the national economy," Al-Atwani said.
He stressed that "the completion of disaster plans as soon as possible with the preparation of a timetable for the completion of the exercises and practices under the supervision of this committee," adding that "the strategy for the implementation of these tasks and duties entrusted to this Committee in accordance with the Civil Defense Law No. 44 of 2013 depends on the possibility of all formations of ministries and departments not linked A ministry within the boundaries of the province. "
At the end of the meeting, the governor of Baghdad praised "the role of the United Nations organizations in general and the consultants and representatives of the United Nations Development Program to attend and participate in this meeting."
Several international reports have warned in recent years of the possibility of collapse of the dam in Mosul because of the fragile soil on which the body of the dam was built in the mid-eighties of the last century.
He renewed his contract with the Italian company «Trevi» for the maintenance of the dam worth 273 million euros.
Mosul has been hit by multiple building defects since its inception in the 1980s, built on unstable ground, and US and local officials have repeatedly warned it is in danger of collapse.
As long as the Iraqi government has confirmed its reassurance to the dam, despite the publication of instructions on how to avoid the damage of its collapse
"He expressed thanks and appreciation to all those present for their understanding of the importance of the management of the work of civil defense and its effective impact in protecting the population and public and private property as well as reducing the size of losses and the impact on the national economy," Al-Atwani said.
He stressed that "the completion of disaster plans as soon as possible with the preparation of a timetable for the completion of the exercises and practices under the supervision of this committee," adding that "the strategy for the implementation of these tasks and duties entrusted to this Committee in accordance with the Civil Defense Law No. 44 of 2013 depends on the possibility of all formations of ministries and departments not linked A ministry within the boundaries of the province. "
At the end of the meeting, the governor of Baghdad praised "the role of the United Nations organizations in general and the consultants and representatives of the United Nations Development Program to attend and participate in this meeting."
Several international reports have warned in recent years of the possibility of collapse of the dam in Mosul because of the fragile soil on which the body of the dam was built in the mid-eighties of the last century.
He renewed his contract with the Italian company «Trevi» for the maintenance of the dam worth 273 million euros.
Mosul has been hit by multiple building defects since its inception in the 1980s, built on unstable ground, and US and local officials have repeatedly warned it is in danger of collapse.
As long as the Iraqi government has confirmed its reassurance to the dam, despite the publication of instructions on how to avoid the damage of its collapse
Kauaihn Iraq Articles:dd
Iraq does not need US forces and bases after the end of the battle with a preacher
Baghdad Feb 27
Iraq does not need US forces and bases after the end of the battle with Saddam, a member of the Iraqi parliamentary security and defense committee said. There are a number of US military bases in the western and northern parts of Iraq, and the House of Representatives has not decided or gives any authority to the government on the survival of US forces," said Adnan al-Asadi.
Adding in a press statement quoted by the agency 'Sumer News' on Monday, that his committee made several requests to host the Prime Minister and Commander-in-Chief of the Armed Forces Haider Abadi to discuss and discuss this matter.
The Pentagon has published a quarterly report revealing that the number of US troops deployed in the Middle East is beyond the official figures so far. The report indicates that as of September 30, the number of US troops in Iraq 8892, 15298 in Afghanistan and 1720 in Syria.
In a related context, a report published by the site "Defense News" American military affairs, on Monday, that the US administration is using a leaf threatening the organization calls, as justification for the continued presence of troops in Iraq and Syria, despite the end of this organization.
Trump's administration used the mandate to use military force after 9/11, as congressional and bipartisan members of Congress continued to seek to force the president's administration to obtain a new mandate from the Senate, the report said.
Sen. Tim Keane and other critics of the move say the White House's use of licenses for more than a decade and a half is legal, calling on Trump to seek a new mandate.
"We have long been afraid to move into administrations that take advantage of the blurring power shared by the president and Congress to the disconcerting belief that there is no need for congressional involvement at all," he said. "Trump behaves as if he is a king through Start a war unilaterally without consulting Congress or obtaining a mandate from it. " US administration officials have stressed that the continued threat of a justification is a justification for the survival and deployment of US troops indefinitely in Syria and Iraq.
Adding in a press statement quoted by the agency 'Sumer News' on Monday, that his committee made several requests to host the Prime Minister and Commander-in-Chief of the Armed Forces Haider Abadi to discuss and discuss this matter.
The Pentagon has published a quarterly report revealing that the number of US troops deployed in the Middle East is beyond the official figures so far. The report indicates that as of September 30, the number of US troops in Iraq 8892, 15298 in Afghanistan and 1720 in Syria.
In a related context, a report published by the site "Defense News" American military affairs, on Monday, that the US administration is using a leaf threatening the organization calls, as justification for the continued presence of troops in Iraq and Syria, despite the end of this organization.
Trump's administration used the mandate to use military force after 9/11, as congressional and bipartisan members of Congress continued to seek to force the president's administration to obtain a new mandate from the Senate, the report said.
Sen. Tim Keane and other critics of the move say the White House's use of licenses for more than a decade and a half is legal, calling on Trump to seek a new mandate.
"We have long been afraid to move into administrations that take advantage of the blurring power shared by the president and Congress to the disconcerting belief that there is no need for congressional involvement at all," he said. "Trump behaves as if he is a king through Start a war unilaterally without consulting Congress or obtaining a mandate from it. " US administration officials have stressed that the continued threat of a justification is a justification for the survival and deployment of US troops indefinitely in Syria and Iraq.
Lavrov: The Iraqi government must ensure the interests of all ethnic, sectarian and political groups
To restore national reconciliation in the country ...
Russian Foreign Minister Sergei Lavrov said that Moscow supports the efforts of the Iraqi federal government to restore national reconciliation in the country.
"We support the efforts of Prime Minister Abbadi and the government to ensure national reconciliation and ensure the performance of state institutions in a way that respects the interests of all ethnic, sectarian and political groups," Lavrov said in Moscow on Monday.
The Russian minister also stressed Moscow's adherence to these operations supported by "all external actors, in full respect for the sovereignty and territorial integrity of Iraq."
The tension between the federal authorities of Iraq and the semi-autonomous Kurdistan region, after the organization of the region on September 25 last, a referendum on independence, which won a sweeping majority, did not agree to Baghdad.
After the referendum imposed Baghdad several collective sanctions on the Kurdistan Region, including the prohibition of international flights to and from the airports of the province and the closure of border posts and the restriction of banking transactions.
Kurdish officials say Baghdad appears to be seeking to isolate them internationally. Despite calls by Washington and other influential European capitals for Baghdad to maintain the constitutional entity of the Kurdistan Region and lift the collective punishment imposed on him by the government of Abbadi.
The Iraqi government extended the air embargo imposed on the Kurdistan region for another three months (until the end of May), the director of Arbil International Airport Telar Faiq said Monday.
It is considered by many political observers that the pressure and procrastination and procrastination exercised by the Iraqi Prime Minister Haider Abadi in dealing with the Kurdistan region, comes within the framework of the policy of the arm of the region, which will eventually end, according to these ultimately lose, and the Kurdish street no longer trust his promises Which has not been implemented and not one of them.
Iranian official: "security concerns" prevent the transfer of Kirkuk oil by truck to Iran
It is likely that some 30,000 barrels per day will be transported by truck. The head of the Iranian-Iraqi Chamber of Commerce said on Monday that the plan to transport oil by truck from the fields of Kirkuk (one of the most prominent Kurdish areas outside the administration of the Kurdistan Region) can not be fully implemented at this time because of security concerns.
Iraq and Iran agreed to swap up to 60,000 barrels per day of crude produced from Kirkuk with Iranian oil delivered to southern Iraq, where it is likely to transfer about 30 thousand barrels per day of crude by truck, to the Iranian refinery Kermanshah in principle.
The Iranian-backed Popular Army militia and other Iraqi security forces entered Kirkuk on Oct. 16 after a wing of the Patriotic Union of Kurdistan (KDP) was betrayed on October 16, a few weeks after the referendum on independence from Iraq organized by the Kurdistan region.
"Iran is facing some problems in implementing the agreement because of security issues," Hamid Hosseini told the chamber.
"Iran does not have X-ray machines to inspect trucks coming from Iraq," Hosseini was quoted as saying by the ISNA news agency, adding that Iran was in talks with Iraq over the use of its equipment.
Iraq and Iran are working on a pipeline to transport oil from Kirkuk to avoid the use of trucks. The planned pipeline may replace the existing export route from Kirkuk through Turkey and the Mediterranean.
The deputy of the Kurdistan Democratic Party and a member of the Committee on Security and Defense parliamentary Shakhwan Abdullah, warned Saturday, in a statement to (Basnioz) repeat the scenario of the fall of Mosul with a tight fist, with the city of Kirkuk, pointing out that the Peshmerga forces will not stand idly by if they feel the danger on Kirkuk Because of the frequency and weakness of Iraqi forces in the city and will take the initiative to defend it.
The Peshmerga forces entered the city of Kirkuk in 2014 after the withdrawal of the Iraqi forces from them with the expansion of the Dahesh who had taken control of Mosul, towards it. And protected the Peshmerga Kirkuk for about 3 years and removed the danger of advocating it as well as recovered areas of its subsidiary, which was a supporter may control after the withdrawal of the Iraqi army from it.
Barzani is speaking from Washington about a proverb in Iraq and striking an example of what is going on in Kirkuk
The adviser of the Kurdistan Regional Security Council, pleased Barzani, said on Monday that the defeat of the organization of a military advocate does not mean the final elimination in Iraq.
Barzani said after meeting with US officials in Washington today, told reporters that "the organization of a military advocate has been defeated and the areas that were under his control has been released," but that "this does not mean that the organization was eliminated definitively."
He added that "what we are seeing now that the groups associated with the organization has reappeared again, and is launching attacks on Iraqi forces and this is happening in the vicinity of the city of Kirkuk and inside," saying that "the thought of a military organization does not end militarily."
Barzani pointed out that "to eliminate the terrorist groups that are in the form of urging must address the factors and the reasons that led to the emergence, and Iraq to date is not ready to find a suitable solution to such problems."
If these factors are not addressed, I think that the presence of these terrorist assemblies will continue in Iraq and the region," he said.
The adviser of the Kurdistan Regional Security Council, Barzani is currently visiting the United States of America and is holding meetings with senior US officials.
International Energy: America will outperform Russia by producing oil in 2019
Release Date: 2018/2/27 10:42 • 99 times read
The International Energy Agency (IEA) said on Tuesday that the United States would overtake Russia as the world's largest oil producer by 2019 at the latest as the country's oil sector continues to flourish.
"The United States will overtake Russia as the biggest producer of crude," certainly next year, "if not this year, said Fatih Birol, the agency's executive director at an event in Tokyo.
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GLOBAL/NEWS/INFO
Lessons from Buffett’s latest letter: stay patient and avoid debt - MoneyWeek
MoneyWeek
Warren Buffett released the latest letter from his investment vehicle, Berkshire Hathaway, at the weekend. John Stepek looks at what advice the Sage of Omaha has for investors. Read the full story
8 Traits Successful People Have In Common
Money
Not all traits are created equal, double down on these to reach your potential. Read the full story
Money
Not all traits are created equal, double down on these to reach your potential. Read the full story
Economic Calendar: Top Things to WatchInvesting.com
Economic Indicators Feb 26, 2018 08:47 GMT On Monday, new home sales data and the Chicago Fed’s economic activity report are released.On Wednesday, the government reports its first reading on gross domestic product in the fourth quarter. New Federal Reserve Board Chairman Jerome Powell delivers two days of testimony to Congress on Tuesday and Thursday.The closely watched PCE price index is released on Thursday. Also due out is data on personal spending, income and consumption.On Friday, the Read the full story
Economic Indicators Feb 26, 2018 08:47 GMT On Monday, new home sales data and the Chicago Fed’s economic activity report are released.On Wednesday, the government reports its first reading on gross domestic product in the fourth quarter. New Federal Reserve Board Chairman Jerome Powell delivers two days of testimony to Congress on Tuesday and Thursday.The closely watched PCE price index is released on Thursday. Also due out is data on personal spending, income and consumption.On Friday, the Read the full story
OIL/COMMODITIES/ENERGY
If you're thinking of investing in commodities, here's some advice you can't afford to ignore
CNBC
CNBC
The allure of commodities as an investment is enhanced by the portfolio protection they have historically offered against inflation. Read the full story
Gold starts the week higher as dollar pulls back
MarketWatch
After last week’s bruising action, a weaker dollar helps gold get a leg up Monday, as investors watch out for Fedspeak. Read the full story
Gold Prices Rebound as U.S. Dollar WeakensInvesting.com
Oil steady near two-week high as Saudi to keep export curbs
Reuters
© Reuters. Gold prices move back higher on softer greenback Read the full story
Crude Oil Prices Near 2-Week Highs on Saudi Remarks
© Reuters. Crude oil prices boosted by Saudi comments, U.S. data still supports Read the full story
Reuters
Oil prices held little changed near two-week highs early on Monday, supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC-led effort to cut global supplies. Read the full story
BANKS/BANKING/CREDIT
Hang Seng Bank deploys fintech to simplify mobile banking, mulls use of facial recognition at ATMs
South China Morning Post
CEO Louisa Cheang Wai-wan wants to develop new services to attract new generation of tech-savvy consumers Read the full story
RTTNews
Canada's largest bank Toronto-Dominion Bank (TD Bank) is banning the use of its credit cards to buy cryptocurrencies, according to an email statement by the bank on Friday. The ban follows a similar move by several banks in the U.S. and the U.K. Meanwhile, RBC said "it does allow its credit and debit cards to be used for transactions involving cryptocurrency in limited circumstances." Read the full story
Standard Chartered to take the bow for banking results, as Persimmon starts for the housebuildersProactive Investors
Bank of Ireland to pay its first dividend in 10 years
CNBC
The last of the blue-chip banking results for 2017 will be released on Tuesday - following last week’s numbers from HSBC PLC (LON:HSBA), Barclays PLC (LON:BARC), Lloyds Banking Group PLC (LON:LLOY), and Royal Bank of Scotland Group PLC (LON:RBS) - with Standard Chartered PLC (LON:STAN) the final lender out of the traps. The emerging markets-focused bank has seen profits rebound and loan impartments drop dramatically, but its last numbers disappointed because of its failure to reinstate the Read the full story
CNBC
Bank of Ireland, the Irish bank that was bailed out during the country's debt crisis, said Monday it will pay its first dividend in 10 years Read the full story
Deutsche Bank Kicks Off Asset Management Unit IPO
Bloomberg
Bloomberg
Deutsche Bank AG on Monday formally announced its intention to sell shares in its asset management unit, kicking off a what is usually a four-week run-up to the initial public offering. Bloomberg's Steven Arons reports from Frankfurt. Read the full story
Currency stabilization major challenge: new central bank governor | Economics | FOCUS TAIWAN - CNA ENGLISH NEWS
FOCUS Taiwan
FOCUS Taiwan
Taipei, Feb. 26 (CNA) The new governor of Taiwan's central bank, Yang Chin-long (楊金龍), said Monday at his swearing in ceremony that the bank's main challenge at the moment is finding ways to maintain stable interest rates and keep the local currency value steady. Read the full story
China cuts red tape as it looks to even the field for foreign banks
South China Morning Post
South China Morning Post
Sunday, 25 February 2018, 11:03:PM China has simplified procedures for foreign banks to conduct business and cleared the rules on their eligibility to invest in their mainland rivals, as Beijing delivers on its vow to create a level playing field. Foreign banks do not require administrative pre-approval to conduct offshore wealth management services for clients and act as custodians for mutual funds investing in stock markets as long as they notify the regulator, the China Banking Regulatory Read the full story
Many lenders are loosening requirements for prospective home buyers
The Washington Post
Borrowers, though, may have to balance high debt with better credit. Read the full story
The Washington Post
Borrowers, though, may have to balance high debt with better credit. Read the full story
TREASURIES/BONDS/STOCKS
Morgan Stanley Takes on Goldman, Buffett With Bullish Bond Call
Bloomberg
Not the Time for 'Grandstanding Calls' on Treasuries, M&G Says Morgan Stanley says it’s time to get bullish on bonds -- even as Goldman Sachs Group Inc. and Warren Buffett issue warnings. The sell-off in Treasuries, that began in earnest in September and ramped up in January, is ending, according to Morgan Stanley strategists. Not so for Goldman Sachs Group Inc., which is running its models through a scenario in which yields on 10-year notes hit 4.5 percent -- though it expects that number to be Read the full story
Stock futures rise as Powell takes center stage
Business Insider
Business Insider
Traders work on the floor of the NYSE in New York Thomson Reuters By Sruthi Shankar (Reuters) - U.S. index futures pointed to a strong start for Wall Street on Monday, buoyed by gains for stock markets worldwide and the belief that new Fed chair Jerome Powell will keep the U.S. central bank on a steady course of monetary tightening. Powell faces questions from both houses of the U.S. Congress in semi-annual testimony starting on Tuesday, his first major set piece since he took over at the start Read the full story
4 Charts Showing Fear on Wall Street - Schaeffer's Investment Research
Schaeffer's Investment Research
Schaeffer's Investment Research
"... whereas the SPX was coming off long-term support from its 200-day moving average and the VIX was situated just below potential resistance from half its 2018 high and double last year's peak, these two indexes now come into this week nearer potential resistance and support, respectively. "For instance, the SPX high last week was around the half-century mark of 2,750, which coincides with its 20-day moving average -- a trendline it had closed below only once since late August 2017 before the Read the full story
U.S. Treasury yields continue lower as traders look to Powell testimony for rate clues
MarketWatch
MarketWatch
U.S. 10-year yields declined on Monday, backing further away from the closely watched 3% level as investors looked ahead to the new Federal Reserve boss’s first congressional testimony in hopes for clues on the pace of rate hikes. Read the full story
Goldman Says Stocks May Plunge 25% If 10-Year Yield Hits 4.5%
Bloomberg
If the 10-year U.S. Treasury yield hits 4.5 percent by year-end, the economy would probably muddle through -- stocks, not so much, according to Goldman Sachs Group Inc. Goldman’s base-case scenario calls for a 10-year yield of 3.25 percent by the end of 2018, though a “stress test” out to 4.5 percent indicates such a move would cause stocks to tumble, economist Daan Struyven wrote in a note Saturday. He also said the economy would probably suffer a sharp slowdown but not a recession. “A rise in Read the full story
Bloomberg
If the 10-year U.S. Treasury yield hits 4.5 percent by year-end, the economy would probably muddle through -- stocks, not so much, according to Goldman Sachs Group Inc. Goldman’s base-case scenario calls for a 10-year yield of 3.25 percent by the end of 2018, though a “stress test” out to 4.5 percent indicates such a move would cause stocks to tumble, economist Daan Struyven wrote in a note Saturday. He also said the economy would probably suffer a sharp slowdown but not a recession. “A rise in Read the full story
Top 5 Things to Know in the Market on Monday
© Reuters. Top 5 things to know today in financial markets Read the full story
Fox Business
It can be challenging to seal a deal amid a volatile stock market. Read the full story
INSURANCE/HEALTH
9 million fewer Americans expected to have health insurance in 2019
CNN Money
The Trump administration's expansion of short-term health insurance plans and Congress' elimination of the individual mandate will mean 9 million fewer people will be insured in 2019, according to a new Urban Institute report. Read the full story
We have too much medical care. That's where Bezos, Buffett and Dimon should start.
USA TODAY
USA TODAY
A value-based approached rather than a technology-alone approach has the potential to transform our broken health care system. Read the full story
What is Renal Cell Carcinoma and How Is It Treated?Dana-Farber Cancer Institute
Anxiety could improve your memory — but there's a limit to how much is helpful
Business Insider
CRYPTO'S / DIGITAL CURRENCY
Renal cell carcinoma (RCC) is a type of kidney cancer that starts in the lining of the very small tubes in the kidneys, called tubules. Read the full story
Business Insider
Anxiety disorder is very debilitating. But in small doses, it could be beneficial. A new study has shown that there is an optimum level of anxiety that could help us remember things better. However, if we are too anxious, the benefits diminish. For people with an anxiety disorder, everyday tasks can seem impossible. In its worst form, anxiety can cause trouble sleeping, heart palpitations, or the inability to leave the house. But in smaller amounts, the kind of everyday anxiety we all feel from Read the full story
Concerns over health effects of vaping - and rising use among teens
CBS News
We need new ways of treating depression
Vox
10 Stories From Real People About How They Quit Smoking
BuzzFeed
Let their stories inspire you! Read the full story
CBS News
Researchers say young people who use e-cigarettes are six times more likely as those who have never vaped to later begin smoking Read the full story
Vox
Experts are now looking to the social and environmental causes of the disorder affecting millions. Read the full story
BuzzFeed
Let their stories inspire you! Read the full story
This 11-year-old just wrote a book on bitcoin that hopefully a kid can understand
CNBC
Andrew Courey spent the holidays writing a kids book on bitcoin and blockchain. Read the full story
CNBC
Andrew Courey spent the holidays writing a kids book on bitcoin and blockchain. Read the full story
How to Short-Sell Bitcoin: 3 Ways To Go About It
International Business Times
There is currently a lot of speculations around "Bitcoin bubble." Many finance experts, bankers and traders do not believe in the bright future of cryptocurrencies. Partially, this is because of high volatility. At its peak in December 2017, Bitcoin price was around $20,000; later on February 2018, it was around $7,000. Now is fluctuating around $9,000. With a traditional stock market, when investors do not believe in certain assets (e.g. stock), they can go short against it. Read the full story
5 Important Facts About Cryptocurrency the SEC Says Investors Must Know - Bitcoinist.com
Bitcoinist.net
Bitcoinist.net
Unless you’ve been living under a rock for the past 4 months, you’ve probably at least heard about all those people who’ve either mortgaged their houses and struck it rich, or lost their life savings, by investing in crypto. Naturally, cryptocurrency’s disruptive properties have caught the attention of the US Securities and Exchange Commission (SEC) – which, unsurprisingly, has some opinions on the matter. 5 Things to Know About Crypto, Courtesy of the SEC As noted by NASDAQ, Securities and Read the full story
Women in Cryptocurrencies Push Back Against ‘Blockchain Bros’
The New York Times
The New York Times
Cryptocurrencies and blockchain were meant to be great equalizers. Instead, women are finding that the gold rush is already stacked against them. Read the full story
Bitcoin WARNING: 'Free money expert' advises investors to AVOID cryptocurrency 'gamble'
Express
BITCOIN investors have urgently been advised to avoid “playing with sharks” in a cryptocurrency market that is a “gamble” and has “no regulation like in a dollar bill”, an American author has warned. Matthew Lesko, best known for advertisements in the 90s that promoted his books declaring that US citizens were eligible for free money from the government, issued Bitcoin investors with caution as prices continue to fall. He stated: “There's no regulation like in a dollar bill, it's not backed by Read the full story
Express
BITCOIN investors have urgently been advised to avoid “playing with sharks” in a cryptocurrency market that is a “gamble” and has “no regulation like in a dollar bill”, an American author has warned. Matthew Lesko, best known for advertisements in the 90s that promoted his books declaring that US citizens were eligible for free money from the government, issued Bitcoin investors with caution as prices continue to fall. He stated: “There's no regulation like in a dollar bill, it's not backed by Read the full story
CURRENCIES
Dollar skids as Treasury yields head lower in big week for central bankers
MarketWatch
The dollar headed sharply lower on Monday, tracking a continued decline in Treasury yields as traders looked ahead to the testimony from the new Federal Reserve boss for any hints on how many times interest rate will rise in 2018. Read the full story
Dollar loses further ground with eyes on Powell speech Read the full story
© Reuters. Dollar slips lower with Powell testimony in focus Read the full story
Pound V euro: GBP rate gets boost as mortgage approvals rise
Express
THE pound has firmed against the euro during Monday’s early trading session following some positive UK lending news. Mortgage approvals in January have risen for the first time in four months. The boost indicates an improvement in the outlook for household finance. Other positive news has been a reduction in levels of unsecured credit. Eric Leenders of UK Finance stating said: “January saw higher levels of repayments on credit cards, which is expected at this time of year as customers pay off Read the full story
Rupee gains against US dollar in opening trade
Livemint
Mumbai: The Indian rupee strengthened against the US dollar on Monday, after global markets gained and US treasury yield steadied. Read the full story
Nikkei leads Asian market gains as yen drops
MarketWatch
Global equities continued to build on their recent gains early Monday, after late week strength for U.S. equity markets. Read the full story
MarketWatch
Global equities continued to build on their recent gains early Monday, after late week strength for U.S. equity markets. Read the full story
USA/CANADA
The American midwest is quickly becoming a blue-collar version of Silicon ValleyQuartz
The economic engine of Silicon Valley seems to have driven right by the midwest. America’s urban coastal cities have enjoyed an explosion in their technology… Read the full story
Former European leaders struggle to explain themselves after Mueller claims Paul Manafort paid them to lobby for Ukraine
Business Insider
Business Insider
Paul Manafort. President Donald Trump's former campaign manager Paul Manafort was charged on Friday with paying European leaders to lobby of behalf of Ukraine, special counsel Robert Mueller alleged. The leaders in question, who include former leaders of Austria and Italy, have denied any wrongdoing. The leaders were allegedly part of a lobbying group called the Hapsburg Group. Following special counsel Robert Mueller's newest indictment on Friday of President Donald Trump's former campaign Read the full story
Behind the minimum wage fight, a sweeping failure to enforce the law
POLITICO
Raising hourly pay is a rallying cry for 2018, but states often fail to get workers the money that’s owed them. Read the full story
POLITICO
Raising hourly pay is a rallying cry for 2018, but states often fail to get workers the money that’s owed them. Read the full story
EMERGING MARKETS
Venezuelan family recycles worthless piles of bolivar bills into crafts and origami | The Japan Times
The Japan Times
A family of Venezuelan immigrants to Colombia are repurposing their worthless bolivars into origami-made paper wallets, belts and even purses as the currency plunges further ... Read the full story
The Venezuelan oil industry is on a cliff’s edge. Trump could tip it over.
The country was once the Saudi Arabia of South America, but its oil output is drying up. Read the full story
The Washington PostData shows women's only growth as managers over 15 years is in emerging markets
Yahoo Finance
Indian equities no longer top pick among emerging marketsLivemint
Opinion | Xi's the Key-Person Risk for Emerging Markets
Bloomberg
Mexico slaps billionaire's steel company with fine for stock manipulationReuters
Mexico's securities regulator has imposed one of its biggest fines ever for market manipulation on steel company Industrias CH, owned by billionaire Rufino Vigil Gonzalez, government data showed. Read the full story
The country was once the Saudi Arabia of South America, but its oil output is drying up. Read the full story
The Washington PostData shows women's only growth as managers over 15 years is in emerging markets
Yahoo Finance
The number of women fund managers remains "abysmal" and "pathetic," but it's increasing in one fast-growing segment of the market. Read the full story
Mumbai: India is no longer the top pick among emerging markets (EM), as fund managers wait for an earnings recovery and peer markets turn attractive. The Rs11,400 crore fraud at state-run Punjab National Bank (PNB) hasn’t helped either. Read the full story
Bloomberg
Riots, drought, social instability: Emerging markets are never easy. Now investors face a potentially bigger test -- they must decide whether President Xi Jinping's determination to remain in power in China is a risk-on or risk-off moment for the whole asset class. The Communist Party is set to repeal presidential term limits this month in a step that would allow the 64-year-old to rule beyond 2023, and perhaps for life. One potential positive for investors is that the calculation of political Read the full story
Mexico's securities regulator has imposed one of its biggest fines ever for market manipulation on steel company Industrias CH, owned by billionaire Rufino Vigil Gonzalez, government data showed. Read the full story
MIDDLE EAST
Coalition Chairman Amsalem: Police 'obsessively chasing Netanyahu' - Breaking News - Jerusalem Post
Jerusalem Post
The police are going too far in their pursuit of Prime Minister Benjamin Netanyahu, Coalition Chairman MK David Amsalem [Likud] on IDF radio on Monday. "Look where we are now," he said. "The police, in an obsessive and almost ill way, are hounding the prime minister with the goal of impeaching him." Discussing Case 4000 and the recent publication that judge Ronit Pozansky-Katz was texting Israel Securities Authority attorney Eran Shaham- Shavit about detention proceedings, Amsalem said that "the Read the full story
Israel court releases 4 in Netanyahu aides' corruption case
ABC News
Egypt’s external debt may exceed $87.5b on Eurobond sale - MubasherTradeABC News
Israeli court releases 4 suspects held in corruption case involving Prime Minister Netanyahu's confidants Read the full story
Mubasher
Cairo – Mubasher: Egypt’s external debt could surpass $87.5 billion now, on the back of issuing Eurobonds, according to a recent report by MubasherTrade Research on Monday. On 14 February, the Arab world's most populous country issued $4 billion … Read the full story
Russia, Egypt may restart talks on Red Sea airport checks in spring
Reuters
Exclusive: Saudi Arabia prepares to auction detained billionaire's real estate, cars - sourcesReuters
Plan to truck oil from Iraq's Kirkuk to Iran delayed by security concerns
Reuters
A plan to truck oil from Iraq's northern Kirkuk fields to Iran cannot be fully implemented at this stage due to security concerns, the head of the Iran-Iraq chamber of commerce said on Monday. Read the full story
Reuters
Russia and Egypt could restart talks on checking Red Sea airports near resorts of Sharm el-Sheikh and Hurghada in the spring, after the resumption of Russian flights to Cairo, RIA news agency cited Transport Minister Maxim Sokolov on Monday. Read the full story
Saudi authorities are preparing to auction billions of dollars of real estate and cars belonging to billionaire Maan al-Sanea and his company as they look to hasten an end to one of the kingdom's longest-running debt disputes. Read the full story
Reuters
A plan to truck oil from Iraq's northern Kirkuk fields to Iran cannot be fully implemented at this stage due to security concerns, the head of the Iran-Iraq chamber of commerce said on Monday. Read the full story
AFRICA
Zimbabwe: Commercial Farmers' Union Pledges to Work With Govt
AllAfrica
The Commercial Farmers' Union has pledged to work with Government in boosting agricultural productivity to ensure that industry contributes to national economic growth and development. Speaking at the National Land Tenure and Policy Dialogue workshop in Harare on Friday, CFU director Mr Ben Gilpin admitted that the institution, which was over 100 years old, was built on policies of racial inequality prior to Independence. "The lingering result of those inequalities contributed to the rationale Read the full story
Zimbabwe: Will Botswana Assist Govt in Selling Diamonds?AllAfrica
AllAfrica
South Africa: Opposition Launches Petition Against Vat Increase
AllAfrica
Africa: How We Pinned Down What Attracts Mosquitos That Carry Dengue Fever
Government says it has asked Botswana to help improve the country's diamonds sector, mines minister Winston Chitando has said. Minister Chitando was addressing a media briefing in Harare Thursday. According to Chitando, Zimbabwe Consolidated Diamond Company (ZCDC) accumulated a stock pile of 1.558 million carats at the end of December 2017 which are now up for sale. "Government has also enlisted the assistance of Botswana and is optimistic that this will unlock significant value for the nation Read the full story
Zimbabwe: Masvingo Launches Operation Restore Order
AllAfrica
Zimbabwe: Govt Revives Fuel Pipeline Deal With BotswanaAllAfrica
South Africa: Zuma's Foreign Policy - What Ramaphosa Needs to ChangeAllAfrica
Masvingo City Council has launched a blitz code named "Operation Restore Order" targeting illegal vendors, pirate taxis, illegal money changers and touts in a bid to bring sanity in the central business district. A survey by our sister paper The Chronicle last week revealed that the streets were clear of illegal activities and touts who used to be a common feature at Croco Motors along Harare Highway and Family of God Church along Mutare Highway. Only registered commuter omnibuses were seen Read the full story
Zimbabwe has revived plans to extend its Feruka fuel pipeline to Francistown in Botswana, businessdigest can reveal. Plans to stretch to Francistown the Feruka fuel pipeline, which links Zimbabwe and Mozambique, were shelved as relations between Harare and Gaborone deteriorated during the twilight years of former President Robert Mugabe's 37-year rule. Botswana's President Ian Khama was an outspoken critic of Mugabe's repressive rule. Mugabe, who resigned last year after a military coup, was Read the full story
Zimbabwe: Mugabe Lashes Out at Army, Mnangagwa
AllAfrica
Zimbabwe: Grace Mugabe Fumes, Dares Workers
AllAfrica
Former first lady Grace Mugabe allegedly told her farm workers that she was untouchable and no one will force her to pay their outstanding wages, including President Emmerson Mnangagwa. According to workers at Gwina Farm in Banket, Grace visited the property last week accompanied by her husband former president Robert Mugabe and told the 106 employees that she was not going to pay them terminal benefits. She allegedly dared the workers to take the matter to Mnangagwa, saying she would not be Read the full story
AllAfrica
Former president Robert Mugabe yesterday opened up about his ouster last year by the army, disclosing for the first time that some people were allegedly killed and others tortured as the 94-year-old politician piled up pressure on his successor, President Emmerson Mnangagwa. Mugabe told close relatives and friends at a private birthday party at his Harare mansion, known as Blue Roof, that the army chose to side with Mnangagwa in what was essentially a Zanu PF dispute. He disclosed that Mnangagwa Read the full story
AllAfrica
Former first lady Grace Mugabe allegedly told her farm workers that she was untouchable and no one will force her to pay their outstanding wages, including President Emmerson Mnangagwa. According to workers at Gwina Farm in Banket, Grace visited the property last week accompanied by her husband former president Robert Mugabe and told the 106 employees that she was not going to pay them terminal benefits. She allegedly dared the workers to take the matter to Mnangagwa, saying she would not be Read the full story
AllAfrica
South Africa’s 2019 general elections will be a critical moment for democracy as the country welcomes a post-Zuma future. Equally important is the impact of his presidency on South Africa’s international standing. This piece will reflect on South Africa’s foreign policy under President Zuma - exploring the direction and key achievements and shortcomings/failures during his tenure. To what extent has South Africa’s foreign policy in the Zuma administration responded to domestic and continental Read the full story
AllAfrica
The Democratic Alliance has launched a national petition to have the recently announced increase in the country's Value Added Tax revoked. Speaking at the launch at a rally in Soshanguve, Tshwane, DA leader Mmusi Maimane said the National Budget, tabled in Parliament this past Wednesday by Finance Minister, Malusi Gigaba, was the first actual, tangible action taken by government since the election of Cyril Ramaphosa last week. Maimane claimed the budget showed that there was "no real change" Read the full story
AllAfrica
Kenya has seen a rapid increase in chikungunya and dengue viruses outbreaks since 2016. Both are mosquito-borne viral infections that lead to debilitating joint and muscle pain. The two sister diseases are transmitted by the Aedes aegypti - a black mosquito with white spots that only bites during the day. The viruses are spread by the female mosquito when she searches for blood as a source of protein and iron which she needs to form mosquito eggs. The outbreaks in Kenya have been in areas Read the full story
ASIA
Hong Kong’s bourse to report best year since 2015 as listing, trading increase
South China Morning Post
The operator of Hong Kong stock exchange is likely to report a profit of HK$7.34b Read the full story
Asian Equities Extend Gains; China In Focus As Xi Set To Rule Beyond 2023Investing.com
© Reuters. Asian equities extended their gains in the afternoon trade on Monday Read the full story
Equity Rally Builds From Sydney to Hong Kong: Markets Wrap
Bloomberg
China’s Xi Follows Putin in Laying Groundwork to Rule for Decades
Bloomberg
Bloomberg
Non-stop business knowledge Get more on The Bloomberg App CBA’s Stephen Halmarick discusses Fed policy and bond markets. Asian equities rose, extending a two-week global rally, after U.S. stocks posted strong gains and Treasury yields steadied. U.S. monetary policy is back in focus with two appearances from Federal Reserve Chairman Jerome Powell. Stocks from Sydney to Hong Kong advanced after the S&P 500 Index posted a solid U.S. session on Friday. Powell will speak before the House Financial Read the full story
China’s Xi Follows Putin in Laying Groundwork to Rule for Decades
Bloomberg
Bloomberg's Tom Mackenzie reports on China dropping its presidential term-limit, clearing the way for Xi Jinping to rule beyond 2023. He speaks on "Bloomberg Daybreak: Australia." Read the full story
EUROPE
Angela Merkel Starts Grooming Successors, and One Stands Out
The New York Times
The chancellor’s Christian Democrats are expected to choose a new party leader, and Annegret Kramp-Karrenbauer, 55, is among those deemed to have a good chance of success. Read the full story
Will the Powerful German Economy Break Up the EU?
OZY NEWS
OZY NEWS
Germany’s export success should be an unalloyed economic success story — but not if disgruntled EU partners start heading for the exits. Read the full story
European stocks march up as Wall Street looks to extend rally
MarketWatch
MarketWatch
European stocks rose on Monday, with investors starting the week in the mood to take on risk following Friday’s rally on Wall Street and indications that U.S. stocks are set to extend their march higher. Read the full story
UK would be unable to strike global free trade deals without EU support under Labour's Brexit plans
The Telegraph
May faces backlash as Spain adds Gibraltar demands to Brexit deal
The Sun
UK's Labour piles pressure on May over Brexit stance
Reuters
The leader of Britain's opposition Labour Party, Jeremy Corbyn, will clarify the party's position on Brexit on Monday in a move that could lead to a major parliamentary defeat for Prime Minister Theresa May. Read the full story
The Telegraph
Britain will be unable to sign and negotiate trade deals without the European Union’s support after Brexit under Labour's plans to keep the UK in a customs union with the bloc. Read the full story
The Sun
THERESA MAY faces a Tory mutiny after Spain demanded joint management of Gibraltar’s airport as the price of a Brexit deal. Spain’s foreign minister Alfonso Dastis also said Madrid wanted greater cooperation on tax and tobacco smuggling. The demands stop short of a full demand for sovereignty. But it threatens to spark yet more uproar... Read the full story
Reuters
The leader of Britain's opposition Labour Party, Jeremy Corbyn, will clarify the party's position on Brexit on Monday in a move that could lead to a major parliamentary defeat for Prime Minister Theresa May. Read the full story
dd
Blessed and Highly Favored:
CBI Update:
The CBI for Tuesday 2/27/18 did update on the indicative rates Sell Rate 1184
The currency auction is 189,921,893
There are 2 news and announcements for Tuesday 2/27/18
1.Financial Inclusion Seminar
Financial Inclusion Seminar In order to spread the culture of financial inclusion in the society, the bank established the bank.
February 27, 2018
Financial Inclusion Seminar In order to spread the culture of financial inclusion in the society, the bank established the bank.
February 27, 2018
Financial Inclusion Seminar
In order to spread the culture of financial inclusion in the society, the Central Bank of Iraq Branch of Basra on Monday, 2018/2/26 symposium entitled "Contribution of society in the wheel of economic development of the country" The highlight of this symposium, which was attended by a number of officials and specialists definition The principle of financial inclusion and how to increase the number of users of banking services, as well as the availability of banking services and access to all groups and the simplest, especially that the objective of this bank is to raise the level of financial coverage in Iraq to 20% in the coming years.
In order to spread the culture of financial inclusion in the society, the Central Bank of Iraq Branch of Basra on Monday, 2018/2/26 symposium entitled "Contribution of society in the wheel of economic development of the country" The highlight of this symposium, which was attended by a number of officials and specialists definition The principle of financial inclusion and how to increase the number of users of banking services, as well as the availability of banking services and access to all groups and the simplest, especially that the objective of this bank is to raise the level of financial coverage in Iraq to 20% in the coming years.
2. The ICD104 auction for the sale of Islamic certificates of deposit for a period of (14) days and the amount of (100) billion dinars (one hundred billion dinars) and sold certificates of (20,100) million dinars at a uniform rate and the highest rate of return (0.70%). , And the number of participants (3) banks have won the amounts provided.
The Central Bank of Jordan approved the auction of ICD104 for the sale of Islamic certificates of deposit for a period of (14) days and the amount of (100) billion dinars (100 billion dinars) and the sale of certificates of (20,100) million dinars at a uniform rate and the highest rate of return (0.70%). , And the number of participants (3) banks have won the amounts provided.
ISX Update:
Value Traded
915,449,865
Shares Traded
1,459,551,276
ISX ended in Green
Kauaihn Chatter :
2-26-2018 Newshound Guru mike Article: "Kurdistan Alliance confirms the continuation of the boycott budget" Why are they stalling? They want 17%, if Iraq's political leadership would just take a peek at the Iraqi Constitution, it clearly states the Kurd's are to receive 17% of Iraq's budget, outside of sovereign responsibilities...They don't need to re-invent the wheel, just follow the legal and constitutional requirements of Iraq's existing laws and pay the Kurd's their 17%... after a while, they're going to say enough is enough and make another mess that takes three years and billions of dollars to correct
2-26-2018 Newshound Guru Kaperoni Article: "A new drop for the dollar today in Iraq" Quote: "The exchange rate of the US dollar against the Iraqi dinar continues to decline for the second month in a row. The foreign exchange markets in Baghdad, on Monday morning, the decline in the dollar exchange rate against the Iraqi dinar. The market price in the Kifah Stock Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars." ...All we can do is wait and see each day what they report for the auction. 1220 is close...let's give it another week and see if they are in compliance.
2-26-2018 Newshound Guru Kaperoni Article: "Alnasiri: Implementation of the Central Bank's strategy contributed to the improvement of the dinar's exchange rate against the dollar" They had a few months with the UST and IMF to figure out a plan to reduce the spread. It seems likely they are on track to compliance. We all know the investment won't come if they do not get the market economy going. Time is running out.
2-26-2018 Newshound Guru MilitiaMan Quote: “...MEMO WAS SEND ON 02/18 TO BANKS REGARDING 02/25!!! DELTA” Well well well. The Final Notice was given to stop selling at the old rate, imo...
2-26-2018 Intel Guru RayRen98 [Do you think that the lack of a budget has anything to do with the lack of a RV? Has the budget been agreed upon as on this morning?] Our committee members say that the Budget has nothing to do with it, it’s just the Iraqi process. Our contractors say that this won’t happen until the rate comes out, and therefore the Budget is released. But the rate and Budget can both be adjusted, if necessary. This morning I talked to people at the bank, and they don’t care what the Budget does; it would be nice, but not essential for the banks to do what they need to do. They are testing the system today and they want it to go by the end of the week.
2-26-2018 Newshound Guru Kaperoni ...We need to see the spread (the official rate to the market rate) go down within 2%. When it’s within 2% then they are within compliance. Then it puts them into a position to accept the conditions of article VIII and launch their currency internationally. And more importantly exit the peg that they are on and go to some kind of float. Which would let the world set the exchange rate based on supply and demand…They need to be in compliance for 90 days…They might get an exception from that simply because Iraq is in dire consequences. The recent war. You have a lot of unemployed people…There is a certain amount of expedience needed in Iraq so therefor they may give them an exception. Maybe not and the IMF is going to hold them to a full 90 days of compliance. If they get in compliance in the next week it creates a window in March and the end of May which would be the 90 days where Iraq could accept Article VIII and begin it’s transition to engage with the world financial system. That is the step we want to see occur.
2-26-2018 Newshound Guru Walkingstick [There are approximately 7 state-owned banks, 9 Islamic banks, 23 commercial banks, 15 foreign branches of foreign banks, 34 money transfer companies, 2K exchange companies, 2 companies that provide electronic banking and smart card services with 800 branches throughout the provinces of Iraq. IMO, the CBI has a target date to LAUNCH once all financial institutions have successfully completed their conversion.] Memos, were received...by...diff entities, for...diff time slots/ allotted dates...for reason/s... Well done, Manaolana3... [post 2 of 2]
2-26-2018 Newshound Guru Walkingstick [via Manaolona3] [...Guru Walkingstick explained at length the metamorphosis of the currency auction suspension and the process to transition over. CBI suspended currency auction to enable them to complete conversion from "old" to "new" system...CBI sent formal notification (memo) to all financial institutions (entities) i.e., banks, money transfer companies, exchange companies about change banks, transfer companies, currency exchange companies must fully integrate their systems in accordance with and in compliance with new CBI systems requirements...all entities are given specific time-frames (different time slots) to complete the conversion to new CBI system requirements, and are given allotted dates to complete their tasks to test their systems with the new CBI system requirements to ensure all systems are "go" for successful implementation...(LIVE) interface.] [post 1 of 2....stay tuned].
2-26-2018 Newshound Guru Kaperoni Article: "Alnasiri: Implementation of the Central Bank's strategy contributed to the improvement of the dinar's exchange rate against the dollar" They had a few months with the UST and IMF to figure out a plan to reduce the spread. It seems likely they are on track to compliance. We all know the investment won't come if they do not get the market economy going. Time is running out.
2-26-2018 Newshound Guru MilitiaMan Quote: “...MEMO WAS SEND ON 02/18 TO BANKS REGARDING 02/25!!! DELTA” Well well well. The Final Notice was given to stop selling at the old rate, imo...
2-26-2018 Intel Guru RayRen98 [Do you think that the lack of a budget has anything to do with the lack of a RV? Has the budget been agreed upon as on this morning?] Our committee members say that the Budget has nothing to do with it, it’s just the Iraqi process. Our contractors say that this won’t happen until the rate comes out, and therefore the Budget is released. But the rate and Budget can both be adjusted, if necessary. This morning I talked to people at the bank, and they don’t care what the Budget does; it would be nice, but not essential for the banks to do what they need to do. They are testing the system today and they want it to go by the end of the week.
2-26-2018 Newshound Guru Kaperoni ...We need to see the spread (the official rate to the market rate) go down within 2%. When it’s within 2% then they are within compliance. Then it puts them into a position to accept the conditions of article VIII and launch their currency internationally. And more importantly exit the peg that they are on and go to some kind of float. Which would let the world set the exchange rate based on supply and demand…They need to be in compliance for 90 days…They might get an exception from that simply because Iraq is in dire consequences. The recent war. You have a lot of unemployed people…There is a certain amount of expedience needed in Iraq so therefor they may give them an exception. Maybe not and the IMF is going to hold them to a full 90 days of compliance. If they get in compliance in the next week it creates a window in March and the end of May which would be the 90 days where Iraq could accept Article VIII and begin it’s transition to engage with the world financial system. That is the step we want to see occur.
2-26-2018 Newshound Guru Walkingstick [There are approximately 7 state-owned banks, 9 Islamic banks, 23 commercial banks, 15 foreign branches of foreign banks, 34 money transfer companies, 2K exchange companies, 2 companies that provide electronic banking and smart card services with 800 branches throughout the provinces of Iraq. IMO, the CBI has a target date to LAUNCH once all financial institutions have successfully completed their conversion.] Memos, were received...by...diff entities, for...diff time slots/ allotted dates...for reason/s... Well done, Manaolana3... [post 2 of 2]
2-26-2018 Newshound Guru Walkingstick [via Manaolona3] [...Guru Walkingstick explained at length the metamorphosis of the currency auction suspension and the process to transition over. CBI suspended currency auction to enable them to complete conversion from "old" to "new" system...CBI sent formal notification (memo) to all financial institutions (entities) i.e., banks, money transfer companies, exchange companies about change banks, transfer companies, currency exchange companies must fully integrate their systems in accordance with and in compliance with new CBI systems requirements...all entities are given specific time-frames (different time slots) to complete the conversion to new CBI system requirements, and are given allotted dates to complete their tasks to test their systems with the new CBI system requirements to ensure all systems are "go" for successful implementation...(LIVE) interface.] [post 1 of 2....stay tuned].
d
Elmer:
Not in today
Artmeister:
Not in today
Catnip:dd
*************
ARTICLE 1 (from PM Abadi's website; posted only on the Arabic side, not posted on the English side)
Prime Minister Dr. Haider Al-Abadi receives a delegation from the teachers union
26 February 2018
Prime Minister Dr. Haider Al-Abbadi received on Monday a delegation from the teachers union.
During the meeting, the teachers' affairs were monitored in particular with respect to promotion from the time of maturity, and ways to improve the teacher's reality, the teaching reality and the law of teacher protection, which was approved by the Council of Ministers recently.
The meeting also stressed the importance of the teacher class as the breeding ground for the generation of educated.
Head Office
Ministers
26 February 2018
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ARTICLE 2-A
Parliament: the proportion of the possibility of passing the budget session next Wednesday does not exceed 50%
BAGHDAD - February 26 - The parliamentary legal committee said on Monday that it was hoped that the three presidencies would meet before Wednesday's meeting as they represent the three main components of the Iraqi society to resolve all controversial points on the budget to facilitate their passage on Wednesday.
"But the travel of the Speaker of the Parliament, Salim Jubouri, and not to set the date of the presidencies meeting will postpone their meeting to next week, and there are other ways to pull the Kurds to pass the budget of 2018," pointing out that "the proportion of the possibility of passing the budget in Wednesday session does not exceed 50%, which is a swing rate can not be relied upon. " End Ah
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ARTICLE 2-B
National Conference warns of blocks of "too late" in the adoption of the budget
2018/2/27 11:00
[Ayna-Baghdad]
The Secretary-General of the Iraqi National Congress Party, Aras Habib, said on Tuesday that the delay of the adoption of the financial budget for 2018 all these months no longer give any opposition party, whatever the arguments and justifications have the right to block its approval.
"The budget is not a suitable field for political intrigues, especially since the date of the end of the legislative session is coming soon, as is the start of the electoral campaign," Habib said in a press release.
He called Habib "all political forces to reach common understandings before it is too late to not repeat what happened in 2014, which is contrary to the solidity of the functions of Parliament, the budget is the most important laws can not be negotiated or disposed of according to the whims and moods and political differences, some of which are not born today."
It is noteworthy that the House of Representatives, has not yet approved the draft law of the financial budget for 2018, amid the continuation of the lightest among the political blocs, most notably the Kurdish forces protest to reduce the government share of the Kurdistan region from 17% to 12%.
The Prime Minister Haider Abadi, counting earlier "delay the budget game ask citizens to expose," stressing that "he sees any justification to disrupt the budget and I hope
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ARTICLE 3
Integrity reveals manipulation of a drug worth 13 billion dinars in Karbala and return it to finance
2018/2/27 12:12
[Ayna-Baghdad]
The staff of the investigation office of the Integrity Commission in Karbala managed to seize a 13 billion dinar and half a billion real estate file in the first real estate registration department in the governorate, whose ownership was transferred through fraud and forgery.
The agency's investigations department, in detailing the investigation conducted under a judicial memo, pointed out that "the bureau's staff, as a result of follow-up and scrutiny, seized the property file to reveal cases of forgery and manipulation that took place in it, indicating that the preliminary investigations led to the ownership of the property, "The finance was transferred through fraud and forgery to other people, but the estimated value, according to a joint disclosure by the tax assessor of the province and the survey in the Directorate of Real Estate Registration first, amounting to 13.5 billion dinars.
He added that "the investigative and follow-up procedures carried out by the staff of the investigation office in Karbala governorate led to the establishment of the State Property Department in the governorate to cancel the registration of the property in the Court of First Instance; For the purpose of prosecution in accordance with the provisions of Article 340 of the Penal Code. "
The Integrity Commission announced in early February that it was able to return five real estate in the province of Karbala estimated value of more than two billion and 380 million dinars to the Ministry of Defense was granted to some of the officials of the province with special grades in 2015, and revealed in January that it was able to The re-ownership of a property group in the province with an estimated value of more than 57 billion dinars to state ownership.
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ARTICLE 4
Ninewa Council: The Operations Command must provide assistance to lift the bodies in the right shore
NINEWA, Iraq (AP) - February 27 - Ninewa provincial council on Tuesday called on Ninewa operations to support the exhumation of bodies buried in the rubble of the Al-Midan area on the right-hand side of Mosul.
"The presence of hundreds of bodies lying on the banks of the Tigris River is a serious problem on the environmental and health level among the people of the province," said Hossam al-Abbar, a member of the Nineveh Provincial Council. "We have asked for more than once the municipality of Mosul to rent boats to lift bodies on the Tigris River. Remains of the bodies, but the difficulty of conducting this process requires support from the security services in the province. " End Ah
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ARTICLE 5
The Hollywood team supports Iraqi stories both materially and artistically
BAGHDAD, Iraq - February 25 - The International Workshop on Iraqi Success Stories discussed in its evening session the scenarios of works and stories presented by Iraqi writers, novelists and directors.
"The participants in the workshop, which is being held in the capital Baghdad for the period from 25 to 28 of this month, recorded their observations and suggestions towards the treatment and narrative plot of events that will be handled by the producers in the Hollywood company," the spokesman of the international workshop Haider Aboudi said in a statement on Sunday.
The participants agreed to make films with a technical message that value the Iraqi scene and address the world public opinion and reinforce the content of that message in the memory of humanity and adore the image of a people who defended the world and made sacrifices that can not be ignored or forgotten, which necessitates an international commitment to support Iraq and its people in delivering the voice of its heroism and human It has terrorist-supporting forces.
The Hollywood team expressed its full readiness to support the Iraqi stories, funding and technical treatment and marketing world that uphold the values of love and tolerance and positive interaction with the experiences of peoples, which have given a humane and historic victory.
The International Workshop on Iraqi Success Stories, which accompanied the circumstances of the war on terrorism, was also launched in Baghdad this morning, in the presence of a group of Iraqi innovators and a team from Hollywood.
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TNT Call 26-February-2018 by Adept 1:
RayRen: Good afternoon, TNT super-fantastic family! This is Marvelous Monday, February 26 2018, with yours truly RayRen98 here, and Tony as well.
Tony: Goood morning, TNT!
RayRen: We didn’t have any tweets or updates over the weekend, so we can jump right into today’s news.
Tony: There was other information besides the video we sent out, but not that important. Banks are still updating. People were at the bank again on Sunday and they are trying to run the complete system again today. If that works out, they intend to exchange people before the end of the week. We were told on Sunday that they would vote on the Budget on Wednesday; today the television said they would force a vote on Tuesday. So, Tuesday or Wednesday for the Iraqi Budget.
We haven’t heard anything new on rates; they are the same as we said last time. There is nothing new on procedures, either – just we said in recent calls. That’s it for today. They are in meetings this morning, and haven’t heard anything yet. I did ask about contract rates, and I have not heard anything about them yet.
Questions from the TNT forum
Q: What’s the latest about the contract rates? A: And anything further about caps on the Zim? A: Nothing has changed since the information we shared with you on Friday. We don’t know if that is the lifetime cap; they would like it to be, but no decision has been made on that yet.
Q: A few weeks ago you talked about being pressured and our redemption to participate in municipal bonds. Is that still the case? Do you know the interest rate and term? A: I would say people are being asked and encouraged to take up municipal bonds over a certain amount; you can see if that is right for you. Plus, I think they will be local bonds, so they terms might be different from one place to another.
Q: If a person has a revocable trust with someone else and that friendship is broken, how do they dissolve the trust? It was just set up for the exchange, nothing in it. A: The grantor can revoke the trust and each person take back their own currency.
Q: I understand that we need to do our exchange at the Federal Reserve district we live in. Or will we able to do a small exchange of under one million at a teller window in other districts as we travel? A: If you need to exchange in your own district… then No.
Q: Will contract rates for the dinar be allocated to so many available per district? A: I don’t know.
Q: You have informed us on the calls that your sources have indicated that the exchange proceeds we received will be tax free (or already taxed before we receive the proceeds). My question is: Will all proceeds that we receive from all currencies (Iraqi dinar, dong, Zim, Indonesian Rupiah) be tax-free? A: Yes, all of them are pretaxed.
Tony: I listened to part of a tape this morning telling you guys that you don’t have to go to the banks to exchange, that you can go to the dealers, ebay, craigslist. I hope you can see how much of an idiot this is. Why would anyone sell their currency on ebay on craigslist, when it’s a sale rather than exchange? For a purchase, you have to pay Federal taxes, on a retail level. That has nothing to do with state or local taxes. So this person is advising people to do something that is in crazy AND double-taxed. That’s what I fear when people tell you things they know nothing about.
RayRen: It’s about the process; if you are exchanging one currency or 15, the excise tax has already been applied.
Q: I understand this is a very fluid situation an folks including myself get tested with the changing variables. That being said how confident are you that you will be able to roll out the final game plan with the most up to date information when you release the 800 #s? Tony: I’m very confident, because they are calling us to tell it to you, so that this can be as smooth as possible. We are certainly giving you the latest information we have, and we will confirm everything before we put this out. We have the most people listening, so we can get the information out as soon as they give it to us.
Q: Do you think that the lack of a budget has anything to do with the lack of a RV? Has the budget been agreed upon as on this morning? A: Our committee members say that the Budget has nothing to do with it, it’s just the Iraqi process. Our contractors say that this won’t happen until the rate comes out, and therefore the Budget is released. But the rate and Budget can both be adjusted, if necessary. This morning I talked to people at the bank, and they don’t care what the Budget does; it would be nice, but not essential for the banks to do what they need to do. They are testing the system today and they want it to go by the end of the week.
Q: Is it true that it will take a week to get an appointment if you do not have a bank account in the same district that you are going to exchange in? If so will that blow your changes of getting a contract rate? A. I never said that. IF you want to go to a bank that is NOT one of the lead banks, then it might take a week to get that appointment. If you have a private banker, and they can get you in before then, that’s between you and your banker.
Q: Will banks still set up a trust for you at the exchange appointment? Tony: For that kind of question, call the bank today and ask them. Tell them you have an inheritance coming, and want to know how long it will take for you to set up an account/trust, etc.
Q: I already have a highly recommended wealth manager in a different district than my residence. Do I have to go through the 800 # Federal Reserve District system to exchange? A: If you call the 800 number, you have to be in your district. If you already have a wealth manager, then call and ask your WM!
Q: Do we only have 30 days to exchange our Zim notes? RayRen: I’m getting tired of answering questions on information we never put out. Tony: I don’t know of any time frame for Zim, have never heard that.
Q: Re: Zim, Can I exchange one trillion into my personal account and one trillion into my trust account? A:
Q: I have 1 quadrillion Zim, would it be better to diversify when setting up trusts accounts with multiple banks or just setup one trust account with one bank so I have a larger foundation to negotiate on so I could possibly get 12%+/- interest? A: I would get the exchange all done at once, then diversify.
Q: What I want to know is, are there laws that prevent Americans from doing business with Zimbabwe? If so, how will that affect people who possess Zimbabwe bearer bonds? Tony: We cannot know every law that applies to these situations. If you want to get contract rates with Zim, you have to have projects that are approved by Zimbabwe and the banking system, so that must be legal to do. Otherwise, you have to ask an attorney. We are trying to help you with the exchange process and what you can do with your funds afterwards. We are neither financial or legal advisers.
Q: We live in Canada and wish to exchange in US. We intend to leave money in US and invest there; is this possible under the district principle that is in place? Will this district principle be removed after the initial rush is over? A: I don’t know.
Q: Will TNT be having any kind of meetings post-RV to educate us about anything? There was a plan several years ago to do something along these lines. Tony: I will be having four meetings, and Ray has set up 13 meetings around the country. After that, we might just see what people are doing. We will not be advising anyone professionally. I am happy to tell you what I’m doing and looking at, and we can have discussion on the calls. You can also put together investment groups amongst yourselves.
Q: Will the Zim note cap affect churches and nonprofits receiving them as donations? A: Yes.
Questions from live callers
951 caller: Do you have anything else on a cap of ten 100T notes?
Tony: No – that is what they want, but it has not been agreed so far. They only want everyone to exchange one note in the beginning. So let’s say I pass out the other nine notes – there are still ten notes that have to be exchanged. Let’s say I have 100 notes, even if I hand them out, there are still 100 notes to be exchanged. So is it the notes that are being limited, or the wealth that is being limited.
Caller: I don’t know that such a limit is legal, as it wasn’t in place when we bought notes.
Tony: When we were buying these notes, there was another administration here and in Zimbabwe, and they had a totally different plan on how to do this. Now there is new leadership there and here, and the IMF has worked out a different plan so that the economy doesn’t crash in Zimbabwe. So there is nothing we can do about that.
Caller: So… one Zim note initially, then one note at a time over a period of time, right?
Tony: The wealth manager might tell you to bring in two or three, depending on how many notes have been exchanged over all.
RayRen: Where most of us bought Zim, we bought it as a collectible. It was not sold as a currency you can exchange. Remember, the cap is 100 Trillion Zim, or any combination of the 100s and 50s that total 100 T.
404/865: So the banks are updating their system today – just in the US or worldwide?
Tony: On the call Friday, they said their system was 99% completed – and they were on the call. This morning’s call said that two of the banks were running something with their systems; if everything worked out today, they would get started later this week. What these two banks are doing today is between those two banks, which means everything else should be done today. One is a foundation bank; then it could go any time.
Caller: How is the security at the exchange centers different from going to the tellers?
Tony: We know there is supposed to be security inside and outside the banks. Also, we were told the National Guard is being put on alert in case of civil unrest.
[My computer crashed here.]
Closing Statement
Tony: Not a lot of updates to day. Did not get to talk this morning to see if anything changed over the weekend or if it was finalized. We’ll have to wait to see what is finalized. The banks are getting ready. Remember the memo that went out two weeks ago? They are training and getting ready. Their weeks are up.
Now we are waiting to hear about the vote Tuesday or Wednesday. I don't see anything else they can come up with not to do it. I'm hoping this was our last call prior to the RV. If anything happens in between we will send out a tweet or do another call. Enjoy your day.
RayRen played I Believe: https://www.youtube.com/watch?
