WOTS Thursday 8/02/18:
Forex Rates:
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD | | | 1,169.9000 | 1,169.9000 | 1,169.9000 | | 20:00 |
| USD/VND | | | 22,994.9000 | 22,994.9000 | 22,994.9000 | | 20:00 |
| USD/CNY | | | 6.8478 | 6.7949 | 6.8223 | | 06:47 |
| USD/KWD | | | 0.3024 | 0.3017 | 0.3022 | | 06:48 |
| GBP/USD | | | 1.3125 | 1.3067 | 1.3124 | | 06:53 |
| USD/IRR | | | 12,048.0000 | 12,048.0000 | 12,048.0000 | | 17:51 |
| USD/IDR | | | 14,497.8000 | 14,432.8000 | 14,489.2000 | | 06:52 |
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DC NY Iraq Articles:dddddd
US Reiterates Support for Reform Plan in Peshmerga Ministry
During a meeting with Prime Minister Nechirvan Barzani, Chief of Office Security Cooperation – Iraq (OSC-I) Major General Sean Jenkins, and his accompanying delegates thanked Erbil for its coordination with the US-led Coalition during the years-long war against the Islamic State (IS), said a KRG statement.
The US commander highlighted the role of the Kurdish forces in the recent military operation which was aimed at destroying the IS positions in Makhmour area.
They pointed out that eradicating terror requires further close coordination between Peshmerga and the Coalition.
PM Barzani, in return, thanked Washington for its supports to the Peshmerga troops, welcoming any assistance in the reform efforts ongoing at the Ministry of Peshmerga.
Zain Iraq Performs “Exceptionally Well” in 1H-2018
Iraq, August 2, 2018
Zain Iraq performed “exceptionally well” in H1 2018 when compared to H1 2017 with revenues reaching USD 558 million, a 7% increase Y-o-Y and EBITDA reached USD 194 million, up 8% reflecting an EBITDA margin of 35%.
According to a statement from the company, the operation reported a net profit of USD 18 million, up 66% on the USD 11 million profit recorded for H1 2017.
The expansion of 3.9G services across the country and restoration of sites in the West and North of the country, combined with numerous customer acquisition initiatives, especially in core regions, resulted in an impressive addition of 1.9 million customers (15% increase) to reach 14.7 million.
Also contributing to the operation’s financial revival was the significant growth of data revenues, robust growth in the Enterprise (B2B) segment and the revamping of its call centers significantly improving customer service.
A $ 11 million waiver was issued as an off-balance sheet for Rafidain and Rasheed
Editorial Date: 2018/8/2 11:15 • 149 times read
{Baghdad: Al-Furat News} The Ministry of Justice resolved the issue of lifting the seizure of Rafidain banks and government banks in foreign banks and worth more than 11 million dollars.
A statement issued to the ministry received the agency {Euphrates News} a copy of the Director General of the Legal Department Raad Khalil said, "succeeded the department of foreign lawsuits in the Department to lift the custody of Iraqi funds belonging to Rafidain and Rashid banks located in France at {BNP Paribas and Natixis} For Citibank. "
He confirmed that "the lawyer appointed by the ministry to plead for the case received a decision from the French Supreme Court {Court of Cassation} to overturn the decision of the Court of Appeal issued on 4 February 2014, which requires that the bank Rafidain and Rashid to pay money to Citibank and return the case to the court Appeal and authorize the Rafidain and Rashid Bank to file an appeal against the decision before the Supreme Court. "
Khalil said, "A decision was issued to lift the seizure of funds in the BNP Paribas of Rafidain and Rashid banks," adding that "the department continues to follow up with the lawyer and the concerned parties."
He confirmed that "the lawyer appointed by the ministry to plead for the case received a decision from the French Supreme Court {Court of Cassation} to overturn the decision of the Court of Appeal issued on 4 February 2014, which requires that the bank Rafidain and Rashid to pay money to Citibank and return the case to the court Appeal and authorize the Rafidain and Rashid Bank to file an appeal against the decision before the Supreme Court. "
Khalil said, "A decision was issued to lift the seizure of funds in the BNP Paribas of Rafidain and Rashid banks," adding that "the department continues to follow up with the lawyer and the concerned parties."
Iraq exported 3.543 million bpd from southern ports in July: ministry
Iraq, August 2, 2018
Iraq exported 3.543 million barrels per day (bpd) of oil from its southern ports in July, the Ministry of Oil said on Wednesday (August 1).
The Iraqi Ministry of Oil said in a statement that the country exported 109,847,268 barrels of oil in the last month, generating around $7.6 billion in revenue.
The average sale price of a barrel in July was $69.163, according to the statement.
These figures come entirely from the southern fields, the ministry said. There were no exports in July from the Kirkuk fields.
OPEC’s second-largest producer exported 3.521 million barrels per day of crude oil in June.
Kirkuk's oil exports were halted in last October, when Iraqi forces, alongside the Hashid al-Shaabi, retook the province from Kurdish forces.
Ministry of Defense announces the start of rehabilitation and reconstruction of a number of areas of the "Abu Ghraib"
August 02 2018 12:40 AM
Rehabilitation and reconstruction operations in the Abu Ghraib district
Baghdad Post
Iraq news
According to the Ministry of Defense, "the engineering effort for the operations of Baghdad is the rehabilitation and reconstruction of a number of areas in the Abu Ghraib district."
The ministry said in a statement that "as part of the campaign (build together), which launched from the Baghdad Operations Command and the province of Baghdad, began the engineering effort of the 6th Infantry Division and service departments in Abu Ghraib district, restoring and covering the streets."
The statement added that it was also "afforestation and decorating the judicial areas, as well as the erection of columns and rehabilitation of the electricity and sewage network."
The ministry statement said that "the Baghdad Operations Command formed a joint operations room for coordination between the Iraqi army and local services."
He pointed out that "the campaign won the citizens' satisfaction for the engineering effort of the 6th Infantry Division to contribute to the rehabilitation and cover the streets of the village (gold white) and a number of areas of Abu Ghraib."
Pro-Iranian Militia, Iraqi Tribal Forces Clash in Salahaddin
According to Kurdistan 24, the confrontation erupted when the tribal forces set up a checkpoint in Dujail town.
The militia force engaged in the clash is said to be Asaib Ahl al-Haq.
The bodies of the three tribal leaders were found earlier the day near an Iraqi security checkpoint. They were abducted by a group of unknown armed men.
The Iraqi army has now reportedly placed the town under curfew to bring the situation under control, according to al-Arabia.
Masoud Barzani, Trump's envoy meet on forming new govt.
August 01 2018 09:48 PM
US special presidential envoy Brett McGurk visited KDP leader Masoud Barzani and CDJ leader Barham Salih separately in the Kurdistan Region on Wednesday to get updates on the formation of a new Iraqi government, the war on terror, and political stability, Rudaw has said.
Barzani welcomed McGurk, accompanied by the newly-appointed US consul general to Erbil Steven Fagin and advisors, in Pirmam on Wednesday, according to Barzani’s office.
McGurk began by sharing his condolences on the anniversary of the Baathists’ massacre of the Barzanis, and with the families of the fallen in the war against ISIS and the latest casualty in the attack against Erbil’s governorate building.
He reiterated that routing ISIS doesn’t constitute the end of terror, noting that the US takes pride in the continued collaboration and partnership it has with the Peshmerga.
McGurk said the war against terror has evolved into a new phase with a new form, according to Barzani’s office.
The two also discussed Iraq’s conditions following the contentious May 12th election and government formation efforts.
“Barzani reiterated that the political process needs to be rebuilt in all of its details on the three principles of partnership, consensus and balance,” he stated.
Barzani asked that a specific timeline be drawn for the implementation of the three principles “so that all the components feel that they are partners in Iraq’s political process, and the government should be formed in light of these three principles,” added Barzani.d
Barzani welcomed McGurk, accompanied by the newly-appointed US consul general to Erbil Steven Fagin and advisors, in Pirmam on Wednesday, according to Barzani’s office.
McGurk began by sharing his condolences on the anniversary of the Baathists’ massacre of the Barzanis, and with the families of the fallen in the war against ISIS and the latest casualty in the attack against Erbil’s governorate building.
He reiterated that routing ISIS doesn’t constitute the end of terror, noting that the US takes pride in the continued collaboration and partnership it has with the Peshmerga.
McGurk said the war against terror has evolved into a new phase with a new form, according to Barzani’s office.
The two also discussed Iraq’s conditions following the contentious May 12th election and government formation efforts.
“Barzani reiterated that the political process needs to be rebuilt in all of its details on the three principles of partnership, consensus and balance,” he stated.
Barzani asked that a specific timeline be drawn for the implementation of the three principles “so that all the components feel that they are partners in Iraq’s political process, and the government should be formed in light of these three principles,” added Barzani.d
Kauaihn Iraq Articles:ddddd
Extension of UNAMI's mandate and a senior UN official to visit Baghdad
Date of release: 2018/8/2 11:05 • 186 times read
Baghdad welcomed the decision of the UN Security Council to extend the work of the United Nations Mission in Iraq (UNAMI) to May 2019.
A statement by the Foreign Minister's Office received a copy of the agency, "Euphrates News," a copy of it, "Ibrahim al-Jaafari, Iraqi Foreign Minister, Jan Kubic, the representative of the Secretary-General of the United Nations in Iraq, and discussed the overall security developments, political developments in the Iraqi arena, and UN efforts in support of stability Iraq".
Jaafari said, "Iraq welcomes the unanimous decision of the Security Council to extend the mandate of UNAMI until 31 May 2019. He also praised the positive role played by Jan Kubic in supporting Iraq, and the continued partnership with UNAMI contributes to achieving the goals that Identified for the mission by the Security Council. "
He stressed "Iraq's full support for the work of the International Investigation Mission in the field of documenting the crimes of gangs, calling the terrorist problem of the Security Council resolution."
Jaafari stressed that "the need to take the approval of the Iraqi government in the event of any desire to adopt strategies, and new plans related to the mandate of UNAMI, and powers, or any programs, or plans may be outside the special mandate of UNAMI."
"We hope to reiterate the commitment of the international community and the friendly countries that participated in the Kuwait International Conference to contribute to the reconstruction of Iraq," he said, .
For his part, the Representative of the Secretary-General of the United Nations in Iraq, Jan Kubic expressed his happiness to renew the mandate of UNAMI, the importance of this work in the next phase, adding: "The mission sets priorities for its work with the current government."
He revealed that "UNAMI is in the process of prioritizing the next phase, which includes reconstruction, the return of displaced people and economic development, especially in the areas of southern Iraq, because there are insufficient activities there."
He pointed out that "the head of the international investigation mission to document the crimes of a fugitive will arrive in Baghdad in the coming days to consult with the Iraqi authorities concerned on the mechanism of the work of the mission on crimes, after the adoption of the United Nations Iraq's proposal to document the crimes of urging."
Jaafari said, "Iraq welcomes the unanimous decision of the Security Council to extend the mandate of UNAMI until 31 May 2019. He also praised the positive role played by Jan Kubic in supporting Iraq, and the continued partnership with UNAMI contributes to achieving the goals that Identified for the mission by the Security Council. "
He stressed "Iraq's full support for the work of the International Investigation Mission in the field of documenting the crimes of gangs, calling the terrorist problem of the Security Council resolution."
Jaafari stressed that "the need to take the approval of the Iraqi government in the event of any desire to adopt strategies, and new plans related to the mandate of UNAMI, and powers, or any programs, or plans may be outside the special mandate of UNAMI."
"We hope to reiterate the commitment of the international community and the friendly countries that participated in the Kuwait International Conference to contribute to the reconstruction of Iraq," he said, .
For his part, the Representative of the Secretary-General of the United Nations in Iraq, Jan Kubic expressed his happiness to renew the mandate of UNAMI, the importance of this work in the next phase, adding: "The mission sets priorities for its work with the current government."
He revealed that "UNAMI is in the process of prioritizing the next phase, which includes reconstruction, the return of displaced people and economic development, especially in the areas of southern Iraq, because there are insufficient activities there."
He pointed out that "the head of the international investigation mission to document the crimes of a fugitive will arrive in Baghdad in the coming days to consult with the Iraqi authorities concerned on the mechanism of the work of the mission on crimes, after the adoption of the United Nations Iraq's proposal to document the crimes of urging."
Promising indicators for the horizon of business in the Kurdistan Region
Iraq, August 2, 2018
Yasin Rashid, the spokesperson of Kurdistan Investment Union, expects big investment projects to resume in the Kurdistan Region, and so the government and investors are gearing up for a new phase.
“From now on, the government will implement the reward and punishment system for investors. Maximum attention will be given to agriculture, industry and tourism,” he said.
In 2014, the Iraqi government cut the budget share allocated to the Kurdistan Region, including salaries of employees who had nothing to do with politics. This, in part, led to an economic crisis in the Kurdistan Region.
However, the economic conditions of the Kurdistan Region have been improving recently due to rising oil prices, reduced government expenses and cleaning the bloated public sector’s payroll. So, investors feel safer to do business in the region.
Rashid is also owner of a residential housing project in Sulaimani province. He spoke about a decree issued by KRG Prime Minister Nechirvan Barzani to arrest a number of investors in the province of Erbil.
“Five of them have been arrested, and two have left Kurdistan. The court will summon some investors in the coming days,” he said.
Rashid went on saying: “These investors had recently poorly managed their projects. They were careless.”
By punishing bad and careless investors, investors will from now on are expected to pay more attention to their projects and hence will not think about making money alone.
“Investors will then know that they will be investigated and fined for poor performance. Bad investors had tarnished the reputation of investment in the Kurdistan Region in the eyes of the outside world. Nowadays, KRG Prime Minister Nechirvan Barzani is communicating a message to international investors that mistakes of the past have been rectified and there currently are good chances for investment,” he said.
Barzani has also said investors who have played a role in building the local economic infrastructure will be awarded and recognized in a ceremony to be attended by foreign diplomats.
During the past three years, officials in Baghdad capitalized on the situation in the Kurdistan Region by drawing investors from the Kurdistan Region to southern Iraq to do business there.
But the situation has now reversed with widespread unrest and protests sweeping through southern Iraq.
“One of the big Kurdish investors in Baghdad has taken a big project. He wants to build a 5-star hotel. He contacted us, saying the situation is bad for them and they regret. Some of these investors have returned to Kurdistan,” Rashid said.
Yasin Rashid went on saying: “There is a Kurdish investor who has taken on a $1billion electricity project there. Some have taken on big industry and construction projects.”
Some investors in the Kurdistan Region suffered big financial losses because of the decreasing values of the Iranian and Turkish currencies. That is why the prime minister and his deputy are working to bring Kurdish investors from Georgia, Iran, Turkey, Iraq and other countries back to invest in the Kurdistan Region.
He spoke about the big tourism project in Dukan which is done by Faruq Company
“It costs $1 billion and will be one of the biggest tourism projects of the Middle East. Kurdistan will step into a big tourism stage after this project is done,” said Rashid.
If the unrest in southern Iraq continues, another wave of IDPs will turn to the Kurdistan Region and this will put pressure on the housing sector. Over the past two years, Turkey exploited the opportunity and allowed Iraqis to buy properties in Turkey.
According to data compiled by the investors’ union, in 2017, 125000 people from the Kurdistan Region and Iraq bought properties in Turkey.
“Buying 125,000 houses in Turkey means $18 billion from Kurdistan and Iraq went out to Turkey,” he said.
According to the spokesperson of Kurdistan Investors’ Union, investors from Erbil have bought out some big projects in Sulaimani, namely Mas Cement Plant which produces 50,000 tons of cement daily, a steel factory, and the biggest shopping malls — Family Mall and Majdi Mall.
He added: “Some investors from Sulaimani have gone to Erbil and are busy with big projects there, notably the biggest guesthouse across Iraq which will be built in Erbil.”
Understanding Iraq’s Debt ( click on link at bottom of article for full report. There are 24 pages)
By John Lee.
The Al-Bayan Center for Planning and Studies has just published a new report from our Expert Blogger Ahmed Tabaqchali.
Entitled “Understanding Iraq’s debt: An overview of its status, outlook and origins“, the report argues that much of that debate about Iraq’s debt is out of context, mixes loosely related facts and figures and mostly comes without an understanding of the concept of debt or debt servicing costs or debt sustainability.
The paper’s aim is to provide an understanding of Iraq’s debt, its origins, developments, status and implications for the future in dealing with the challenge of reconstruction
Approval of the Pentagon's 2019 budget and part of it for Iraq
http://alforatnews.com/
Release Date: 2018/8/2 8:21 • 262 times read
The US Congress has approved a $ 716.3 billion budget for the Pentagon to accelerate military spending and bolster the US position against Russia. The Senate approved the defense budget bill by 87 votes to 10, one week after it received 359 votes to 54 in the House of Representatives.
"I am grateful to the bipartisan members of Congress for adopting the defense budget law in record time this year," Defense Secretary Jim Matisse said in a statement.
The law releases $ 69 billion for ongoing foreign operations (Afghanistan, Syria, Iraq and Somalia), including an increase of 2.6 percent on the salaries of members of the armed forces, and allows the disbursement of tens of billions to invest in modernizing the US Navy, Air Force and missiles.
The law prohibits the Pentagon from handing over any F-35 fighter to Turkey if Ankara does not end its negotiations with Russia to buy Russian S-400 air defense systems.
The Al-Bayan Center for Planning and Studies has just published a new report from our Expert Blogger Ahmed Tabaqchali.
Entitled “Understanding Iraq’s debt: An overview of its status, outlook and origins“, the report argues that much of that debate about Iraq’s debt is out of context, mixes loosely related facts and figures and mostly comes without an understanding of the concept of debt or debt servicing costs or debt sustainability.
The paper’s aim is to provide an understanding of Iraq’s debt, its origins, developments, status and implications for the future in dealing with the challenge of reconstruction
Approval of the Pentagon's 2019 budget and part of it for Iraq
http://alforatnews.com/
Release Date: 2018/8/2 8:21 • 262 times read
The US Congress has approved a $ 716.3 billion budget for the Pentagon to accelerate military spending and bolster the US position against Russia. The Senate approved the defense budget bill by 87 votes to 10, one week after it received 359 votes to 54 in the House of Representatives.
"I am grateful to the bipartisan members of Congress for adopting the defense budget law in record time this year," Defense Secretary Jim Matisse said in a statement.
The law releases $ 69 billion for ongoing foreign operations (Afghanistan, Syria, Iraq and Somalia), including an increase of 2.6 percent on the salaries of members of the armed forces, and allows the disbursement of tens of billions to invest in modernizing the US Navy, Air Force and missiles.
The law prohibits the Pentagon from handing over any F-35 fighter to Turkey if Ankara does not end its negotiations with Russia to buy Russian S-400 air defense systems.
AstraZeneca Investigated for Alleged Corruption in Iraq
Iraq, August 2, 2018
UK-bassed pharmaceutical company AstraZeneca has said it is the subject of an anti-corruption investigation in the US relating to its activities in Iraq
In its latest quarterly filing with the Securities and Exchange Commission (SEC), the company said:
“As previously disclosed, in the US, in October 2017, AstraZeneca and certain other pharmaceutical and/or medical device companies were named as defendants in a complaint filed in federal court in the District of Columbia by US nationals (or their estates, survivors, or heirs) who were killed or wounded in Iraq between 2005 and 2009 (the Lawsuit).
“The plaintiffs allege that the defendants violated the US Anti-Terrorism Act and various state laws by selling pharmaceuticals and medical supplies to the Iraqi Ministry of Health.
“In addition, AstraZeneca has received an inquiry from the US Department of Justice in connection with an anti-corruption investigation relating to activities in Iraq, including interactions with the Iraqi government and certain of the same matters alleged in the Lawsuit.“
The arrest of a fraud ring between Iraq and Lebanon that tried to get money deposited by Saddam Hussein in Beirut
Aug 02, 2018 Aug 02, 2018
Beirut- Al-Quds Al-Arabi from Saad Elias: Within the framework of coordination between Iraq and Lebanon in various fields, especially the security files, the National Intelligence Service in Iraq, in coordination with the General Directorate of General Security in Lebanon, Fabricated for the purpose of extorting a number of Lebanese banks, claiming ownership of documents on balances with millions of dollars in those banks.
The members of the network filed lawsuits against some banks, the latest of which was the attempt to defraud Bank Audi, one of the known Lebanese banks, where the documents proved to be forged by them, as well as broadcast and published fabricated news about the banks. Anumber of members of this gang have been arrested, and others are being arrested and arrested, in continuation of efforts to protect the economy of the two countries and maintain their distinguished bilateral relations.
In the information, the network tried through forged documents to obtain money that was said to have been deposited in some Lebanese banks in 1999 by the regime of President Saddam Hussein, in the amount of billions of dollars, in the names of people who died or were cut off. The network tried to extort these banks from receiving money from them for silence or threats to distort their work.
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Over 150 Iraqi Civilians Killed, Injured in July: UN
“Baghdad was the worst affected governorate with 63 civilian casualties (30 killed, 33 injured, followed by Kirkuk (08 killed, 34 injured), and Ninawa (13 killed, 05 injured),” reads a monthly report.
The figures include ordinary citizens and others considered civilians at the time of death or injury, such as police in non-combat functions, civil defence, personal security teams, facilities protection police and fire department personnel.
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Today in History
My San Antonio
Today in History Today is Wednesday, Aug. 1, the 213th day of 2018. There are 152 days left in the year. Today's Highlight in History: On August 1, 1966, Charles Joseph Whitman, 25, went on an armed rampage at the University of Texas in Austin that killed 14 people, most of whom were shot by Whitman while he was perched in the clock tower of the main campus building. (Whitman, who had also slain his wife and mother hours earlier, was finally gunned down by police.) Read the full story
8 Things Financial Advisors Wish You Realized About Retirement
Forbes Magazine
Three in five Americans are very likely to work longer than they’d like to meet their personal retirement goals, according to a recent study. And that's not the only retirement surprise in store. Here's what planners wish you knew. Read the full story
How an adoption fundraiser turned into a multi-million dollar dream business that supports women around the world Read the full story
Much has changed in the investing landscape over the past 33 years, but one thing hasn’t: Warren Buffett’s approach to navigating it. Look no further than this PBS interview from way back in 1985. Read the full story
A monthly roundup of news that could effect your retirement Read the full story
Here are four key moves women with weak credit can take to shore up their finances. Read the full story
Cramer's charts suggest gold could be nearing a bottom
CNBC
Jim Cramer and technician Carley Garner inspect the charts related to gold to see if the precious metal could be ripe for a run. Read the full story
Gold typically does well in times of market turmoil. But that's not the case lately. Gold prices and several gold ETFs are down this year. Why? Rising rates and a stronger dollar make gold less attractive. That may not change anytime soon. Read the full story
© Reuters. Gold was lower on Tuesday. Read the full story
Read more: https://www.cnbc.com/2018/08/
Banks are still playing with fire a decade after the recession
MarketWatch
Many factors that contributed to the global financial crisis still pose a threat today. Read the full story
Think about this stat: banks have been fined an eye-watering $243 billion since the financial crisis, according to a study conducted earlier this year by the investment bank Keefe, Bruyette and Woods. Shockingly, 93% of this total is shared by just 13 banks. Read the full story
Credit Suisse has been charged by European Union antitrust regulators with rigging foreign exchange rates, the Swiss bank said on Tuesday, a sign that the five-year long EU investigation may reach a conclusion in the coming months. Read the full story
Lloyd's of London is reviewing all aspects of its business, including its centuries-old structure, to ensure it is cost-competitive and responsive to both clients and members, especially after Britain leaves the EU, industry sources said. Read the full story
Technology is developing rapidly and the world as we know is changing accordingly. New technologies are looking to increase convenience and ease of interaction for the general consumer in various sections like e-commerce, grocery, transportation, and banking. For example, peer-to-peer lending, robo advisory, and UPI are just some of the elements in this new wave... Read the full story
The supermarket company is said to be considering extending a ban on the card to other stores because of fees. Read the full story
Which stocks to sell, and which to buy to protect your portfolio. Read the full story
Counterweights keep 10-year Treasury yields from soaring to 4% or even 5%, writes Ed Yardeni. Read the full story
As the Fed meets, fund manager warns ‘perfect storm' is brewing in bonds
CNBC
SIT Investment Associates' Bryce Doty says Treasury yields could invert faster than Wall Street anticipates. Read the full story
After an unusually-calm 2017, volatility is making a comeback. It's a side effect of the Federal Reserve shrinking its gigantic balance sheet. Read the full story
Some of the most popular bets in the U.S. stock market have gotten pummeled in recent days, leading one analyst on Wall Street to declare it one of the biggest rotations from growth to value stocks since the gyrations that occurred in the aftermath of the bankruptcy of Lehman Brothers back in mid September 2008. Read the full story
The S&P 500 is about to do something it hasn't done in a midterm election year since Dwight D. Eisenhower occupied the Oval Office. Read the full story
Morgan Stanley predicts the market will drop further with technology and consumer stocks faring the worst. Read the full story
We’re on the verge of a global currency war, says India’s central bank
Quartz
US president Donald Trump’s protectionist measure against China has spooked the global economy and the currency market. The situation is so grim that the India’s… Read the full story
The U.S. dollar finds some support on Wednesday ahead of the Federal Reserve’s policy update, while concerns about a trade war between the U.S. and China flared up again on Wednesday. Read the full story
https://www.investing.com/
Forex - Dollar Edges Up Ahead of Fed, Aussie Hit by Trade Concerns
Investing.com
Dollar edges up ahead of Fed, Aussie hit by trade concerns Read the full story
Read more: https://www.cnbc.com/2018/08/
The U.S. dollar is poised to strengthen against the Japanese yen heading to the end of 2018, forecasts Jane Foley, senior FX strategist at Rabobank. Read the full story
Sick of Confusing Medical Bills?
Consumer Reports
Doctor, hospital, and insurance bills are riddled with incorrect charges and surprise fees. Here's how to protect your finances. Read the full story
Here's how to clear up inaccurate charges and get the reimbursement you're owed Read the full story
Cases of bacterial infection that can lead to severe mental and physical problems could be much higher than previously thought, according to a new report. Read the full story
Actor Alan Alda revealed that he has Parkinson's disease, and strange behavior in a dream helped doctors figure out his diagnosis Read the full story
Those who had the worst symptoms had the lowest levels. Read the full story
Feds warn that some food items sold nationwide containing romaine lettuce could be tainted with cyclospora Read the full story
Homeowner's insurance: 10 tips for older Americans
USA TODAY
Many older Americans who own homes begin retirement looking for ways to cut expenses. And one such place could be their homeowner’s insurance. Indiscriminate cutting of coverage would be unwise. Read the full story
Fed Expected to Back Gradual Rate Hikes Despite Trump Criticism
Investing.com
© Reuters. Fed expected to back gradual rate hikes despite Trump criticism Read the full story
Economy Jul 31, 2018 11:38 GMT Investing.com - There’s little chance the Federal Reserve will raise interest rates at its meeting Wednesday, but economists say the central bank is likely to make it clearer than ever that two more rate hikes are coming this year. Thus far, Fed Chairman Jerome Powell has only confirmed expectations of two more hikes, but analysts say the Fed is likely to be more explicit about it at this point. Economists point to the minutes from the June FOMC meeting and more Read the full story
The Federal Reserve is expected to hold rates steady at a meeting this week, though many economists the central bank will hike borrowing costs at least twice more this year. Trump says he's "not happy" about Fed officials putting the brakes on his tax-cut-fueled growth. Every Federal Reserve meeting these days is, in a way, a referendum on President Donald Trump. While the Fed is expected to hold interest rates steady this week at a two-day meeting that concludes Wednesday, officials at the Read the full story
It’s that time in the business cycle when banks throw caution to the wind. The Fed must activate countercyclical capital buffers, writes Gregg Gelzinis. Read the full story
It’s partly a decision about clean energy — with a huge trade off. Read the full story
Flames from the Carr Fire burns through trees along highway 299 on July 27, 2018 near Whiskeytown, California. On July 27, the Carr Fire in California's Sacramento Valley transformed from a modest wildfire into a nightmarish, towering inferno, complete with a rotating smoke plume and roaring winds on its periphery. The fire manufactured its own weather as it exploded in size, took off down hills and across a major river, and became a killer as it entered the city of Redding, home to nearly Read the full story
Mexico's president-elect: Deal to renegotiate NAFTA could be reached in coming days
Mexico's president elect Andres Manuel Lopez Obrador said Tuesday that he believes Mexico will reach an agreement to renegotiate NAFTA in the coming days, according to Reuters.
Read more: https://www.cnbc.com/2018/07/
Juan Carlos Baker, Mexico's deputy minister for foreign trade, poses for a photo during an interview with Reuters in Buenos Aires Thomson Reuters By Tom Miles GENEVA (Reuters) - Mexico is still preparing all options to respond to possible U.S. tariffs on car imports, Deputy Economy Minister Juan Carlos Baker said on Tuesday, despite U.S.-European talks last week that were supposed to have seen off the immediate threat. Last week European Commission President Jean-Claude Juncker said he had Read the full story
A Shell logo is seen at a gas station in Buenos Aires Thomson Reuters By Pedro Fonseca RIO DE JANEIRO (Reuters) - Brazil's three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America's largest oil producer. The firms targeted by the probe are Petrobras Distribuidora SA , a subsidiary of state oil company Petroleo Brasileiro SA ; Ipiranga, a unit of Read the full story
Is the tide turning for emerging-market equities? Read the full story
Don’t look now, but the Trump administration could be close to reaching a trade agreement with Mexico, following last week’s announcement of a deal with the European Union. A deal with Mexico to revamp the North American Free Trade Agreement (NAFTA) would represent a serious cooling of trade hostilities with U.S. allies following a summer of sharp criticism by President Trump. Politico and Inside U.S. Trade reported on Monday that technical negotiators from Mexico are due in Washington today for Read the full story
Norway has asked Israel to explain the legal grounds for detaining a Norwegian-flagged fishing boat seized while activists tried to sail with aid to the Gaza Strip, Norway's foreign ministry said on Tuesday. Read the full story
AFRICA
Opposition claims victory in Zimbabwe election, but government says it's too soon to say
Los Angeles Times
Supporters of Zimbabwe’s main opposition party danced in the streets of Harare -- this country’s capital — Tuesday to celebrate what the party Read the full story
Zimbabwe's ruling Zanu-PF wins parliament majority, electoral board says
CNN
Zimbabwe's ruling Zanu-PF party appears set to win a majority in parliament after winning 109 seats so far in national elections, the electoral commission announced Wednesday. Read the full story
Ruling ZANU-PF announced as winner of Zimbabwe's election
NBC News
The possibility of confrontation is an unnerving reminder of the tensions that pervade an African nation debilitated by Robert Mugabe's long rule. Read the full story
Africa: Will Brics Deliver Concrete Benefits to Africa?
AllAfrica
Once the pomp and ceremony and the rhetoric have been subtracted, did the 10th BRICS (Brazil, Russia, India, China and South Africa) summit in South Africa deliver much for Africa? The theme was 'BRICS in Africa: Collaboration for inclusive growth and shared prosperity in the Fourth Industrial Revolution'. As it did when it hosted its first BRICS summit in 2013, South Africa included an 'Africa outreach' component to last week's summit. Heads of African regional organisations and of all southern Read the full story
Africa: New, Updated Brics Investment Model for Africa Needed
AllAfrica
African countries must overhaul their current investment model with BRICS countries, which is not working optimally for the continent, if they are to unlock growth, economic development and reduce poverty more widely. The current BRICS' company Africa investment model may boost growth, but it does not reduce poverty significantly, nor create mass jobs or distribute wealth widely. Furthermore, the BRICS' company Africa investment model does not transfer technology, upgrade African countries' Read the full story
Africa: Mobile Industry to Add U.S.$150 Billion to Africa's Economy By 2022, As Subscribers Rise
AllAfrica
The mobile telecommunications ecosystem will add more than $150 billion in value to sub-Saharan Africa's economy in the next four years, equivalent to nearly eight per cent of the region's GDP. Last year, mobile technologies added $110 billion to the continent's economy, notes the 2018 Mobile Economy report by GSMA, the body that represents the interests of mobile operators worldwide. GSMA is pegging the rise to the growing number of mobile subscriptions, which it expects to hit 634 million - Read the full story
Zimbabwe: Forests Suffer Amid Tobacco Record-Breaking Euphoria
AllAfrica
"We aren't really concerned about planting trees," says one smallholder tobacco farmer -- whom we shall call Jessica -- from the Headlands. Jessica lives in Sherenje village along the highway to Chiendambuya in the Headlands, an old farming town sandwiched between Harare and Rusape, about 140km east of the capital.We are given free tree seedlings with every tobacco seed purchase, but farmers here never plant them. People have their own little pieces of forests where they cut down trees for Read the full story
South Africa's ANC to amend constitution to allow land expropriation
Reuters
South Africa's President Cyril Ramaphosa said on Tuesday the ruling African National Congress will push ahead with plans to amend the constitution to allow for the expropriation of land without compensation. Read the full story
China’s plan to cut debt, ensure efficient capital may be mission impossible in a slower economy
South China Morning Post
Liu He’s appointment to head task force bodes well for China’s attempt to reform the nation’s state-owned enterprises Read the full story
Asian shares rose on Wednesday, following gains on Wall Street, as a report of attempts to renew talks between the United States and China eased trade war fears, but investors will be keeping a close eye on data due today. Read the full story
Investmark Advisory Group principal Michael Lee on how President Trump's tariffs are hurting China and why he expects Iran's currency to continue to decline. Read the full story
The US and China are seeking to restart talks to avert a trade war, according to a Bloomberg News report. Read the full story
China will keep its economic growth within a reasonable range and achieve this year's target despite challenges, the state-run Xinhua news agency said on Tuesday as a trade war with the United States intensifies. Read the full story
GLOBAL/NEWS/INFO
Today in History
My San Antonio
Today in History Today is Wednesday, Aug. 1, the 213th day of 2018. There are 152 days left in the year. Today's Highlight in History: On August 1, 1966, Charles Joseph Whitman, 25, went on an armed rampage at the University of Texas in Austin that killed 14 people, most of whom were shot by Whitman while he was perched in the clock tower of the main campus building. (Whitman, who had also slain his wife and mother hours earlier, was finally gunned down by police.) Read the full story
Forbes Magazine
Three in five Americans are very likely to work longer than they’d like to meet their personal retirement goals, according to a recent study. And that's not the only retirement surprise in store. Here's what planners wish you knew. Read the full story
How This Woman Built A $17 Million Global Business Empowering Women
Forbes MagazineHow an adoption fundraiser turned into a multi-million dollar dream business that supports women around the world Read the full story
Investing tips from Warren Buffett, when he was worth only $500 million
MarketWatchMuch has changed in the investing landscape over the past 33 years, but one thing hasn’t: Warren Buffett’s approach to navigating it. Look no further than this PBS interview from way back in 1985. Read the full story
Big changes to your 401(k) and IRA — and more retirement news
MarketWatchA monthly roundup of news that could effect your retirement Read the full story
4 personal finance tips for financially fragile women
Fox NewsHere are four key moves women with weak credit can take to shore up their finances. Read the full story
OIL/COMMODITIES/ENERGY
Cramer's charts suggest gold could be nearing a bottom
CNBC
Jim Cramer and technician Carley Garner inspect the charts related to gold to see if the precious metal could be ripe for a run. Read the full story
Why gold is plunging despite market volatility
CNN MoneyGold typically does well in times of market turmoil. But that's not the case lately. Gold prices and several gold ETFs are down this year. Why? Rising rates and a stronger dollar make gold less attractive. That may not change anytime soon. Read the full story
Gold Falls as Dollar Strengthens After Economic Data
Investing.com© Reuters. Gold was lower on Tuesday. Read the full story
Gold edges lower ahead of Fed statement
Gold prices dropped on Wednesday, pressured by a stronger U.S. dollar ahead of the outcome of a Federal Reserve monetary policy meeting later in the day.Read more: https://www.cnbc.com/2018/08/
Oil markets: US stockpiles unexpectedly rise biggest monthly slump in two years
Oil prices fell after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July.
Read more: https://www.cnbc.com/2018/08/
Crude posted the biggest monthly loss since July 2016 as a slew of factors from threats of weaker demand to key OPEC producers boosting output weighed on the market. Futures in New York lost 7.3 percent in July as some of the largest producers, such as Saudi Arabia, are seen raising supply levels. The drop was exacerbated Tuesday amid low-volume trading and a strengthening dollar. Meanwhile, U.S. President Donald Trump said he would be willing to meet Iranian President Hassan Rouhani with “no Read the full story
© Reuters. Crude oil prices settle lower as Iran supply concerns ease Read the full story
Oil prices fell after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July.
Read more: https://www.cnbc.com/2018/08/
Crude Oil Posts Largest Monthly Loss Since 2016
FORTUNECrude posted the biggest monthly loss since July 2016 as a slew of factors from threats of weaker demand to key OPEC producers boosting output weighed on the market. Futures in New York lost 7.3 percent in July as some of the largest producers, such as Saudi Arabia, are seen raising supply levels. The drop was exacerbated Tuesday amid low-volume trading and a strengthening dollar. Meanwhile, U.S. President Donald Trump said he would be willing to meet Iranian President Hassan Rouhani with “no Read the full story
Crude Oil Prices Settle Lower Ahead of Inventory Data
Investing.com© Reuters. Crude oil prices settle lower as Iran supply concerns ease Read the full story
BANKS/BANKING/CREDIT
Banks are still playing with fire a decade after the recession
MarketWatch
Many factors that contributed to the global financial crisis still pose a threat today. Read the full story
The Power Of Purpose In Financial Services
Forbes MagazineThink about this stat: banks have been fined an eye-watering $243 billion since the financial crisis, according to a study conducted earlier this year by the investment bank Keefe, Bruyette and Woods. Shockingly, 93% of this total is shared by just 13 banks. Read the full story
Credit Suisse charged with rigging foreign exchange rates
ReutersCredit Suisse has been charged by European Union antitrust regulators with rigging foreign exchange rates, the Swiss bank said on Tuesday, a sign that the five-year long EU investigation may reach a conclusion in the coming months. Read the full story
Exclusive: Lloyd's of London reviews operations after losing $2.6 billion and CEO
ReutersLloyd's of London is reviewing all aspects of its business, including its centuries-old structure, to ensure it is cost-competitive and responsive to both clients and members, especially after Britain leaves the EU, industry sources said. Read the full story
Fintech Tools That Can Change The World Of Finance
Inc42 MediaTechnology is developing rapidly and the world as we know is changing accordingly. New technologies are looking to increase convenience and ease of interaction for the general consumer in various sections like e-commerce, grocery, transportation, and banking. For example, peer-to-peer lending, robo advisory, and UPI are just some of the elements in this new wave... Read the full story
Kroger Draws a Line in the Sand With Visa
Barron'sThe supermarket company is said to be considering extending a ban on the card to other stores because of fees. Read the full story
Bank warns of impending market crash
Fox BusinessWhich stocks to sell, and which to buy to protect your portfolio. Read the full story
TREASURIES/BONDS/STOCKS
Top 5 Things To Know In The Market On Wednesday
Investing.com
© Reuters. Top 5 things to know today in financial markets Read the full story
https://www.investing.com/
Investing.com
© Reuters. Top 5 things to know today in financial markets Read the full story
Day Ahead: Top 3 Things to Watch
Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.
https://www.investing.com/
The unprecedented market shift that worries Dimon is just starting. Here’s what others are saying
CNBC
The Fed's move to reverse its decade-old support of the financial system could backfire, according to J. P. Morgan's CEO. Here's what others have to say. Read the full story
CNBC
The Fed's move to reverse its decade-old support of the financial system could backfire, according to J. P. Morgan's CEO. Here's what others have to say. Read the full story
Opinion: What’s behind the stock and bond markets’ spooky reaction to the Fed’s moves?
MarketWatchCounterweights keep 10-year Treasury yields from soaring to 4% or even 5%, writes Ed Yardeni. Read the full story
CNBC
SIT Investment Associates' Bryce Doty says Treasury yields could invert faster than Wall Street anticipates. Read the full story
The $4.5 trillion experiment rattling markets
CNN MoneyAfter an unusually-calm 2017, volatility is making a comeback. It's a side effect of the Federal Reserve shrinking its gigantic balance sheet. Read the full story
The stock market just experienced the most seismic shift from growth to value since Lehman Brothers, says Nomura
MarketWatchSome of the most popular bets in the U.S. stock market have gotten pummeled in recent days, leading one analyst on Wall Street to declare it one of the biggest rotations from growth to value stocks since the gyrations that occurred in the aftermath of the bankruptcy of Lehman Brothers back in mid September 2008. Read the full story
The S&P is doing something it hasn’t done since Eisenhower was president
CNBCThe S&P 500 is about to do something it hasn't done in a midterm election year since Dwight D. Eisenhower occupied the Oval Office. Read the full story
Morgan Stanley: The biggest sell-off since February is coming and it's going to hit the average investor hard
CNBCMorgan Stanley predicts the market will drop further with technology and consumer stocks faring the worst. Read the full story
CRYPTO'S / DIGITAL CURRENCY
Former hedge fund manager Novogratz's crypto bank makes stock market debut despite bitcoin bear market
CNBC
CNBC
Cryptocurrency-focused merchant bank Galaxy Digital starts trading on a Canadian Stock Exchange on Wednesday despite cooling investor interest and falling prices this year. Read the full story
One Year Later, A Wave of Apps Is Emerging on Bitcoin Cash
CoinDesk
Now a year old, bitcoin cash is carving out a unique niche for itself with new applications. Read the full story
What Does The U.S. Treasury Fintech Report Mean For Crypto?
Forbes Magazine
From state licensing harmonization to regulatory sandboxes, the recommendations put forth in a sweeping new U.S. Treasury Department report on financial regulatory reform are sure to make the crypto community happy. Read the full story
The Top 10 Bitcoin Cities In The World
Forbes Magazine From Prague to Buenos Aires, Bitcoin (and crypto) is truly borderless. Here's where to spend that hard earned BTC. Read the full story
Could Bitcoin Benefit From A Trade War?
Forbes Magazine
What impact are trade war concerns having on Bitcoin prices? Read the full story
A total collapse in bitcoin is a real possibility, says Nobel-Prize economist Krugman
MarketWatch
Nobel Prize-winning economist Paul Krugman said this feverish enthusiasm is ill-informed and a collapse of bitcoin is a real possibility, arguing cryptocurrencies aren’t solving any problems Read the full story
Binance Acquires Anonymous Mobile Wallet for Ethereum Tokens
CoinDesk
Cryptocurrency exchange Binance has acquired the open-source and anonymous mobile ethereum wallet Trust Wallet, it was announced Tuesday. Read the full story
Bitcoin tumbles 5%, breaks out of short-term trading range
MarketWatch
Bitcoin and other digital currencies have stumbled out of the blocks Tuesday, with all major coins in the red in New York. Read the full story
CURRENCIES
We’re on the verge of a global currency war, says India’s central bank
Quartz
US president Donald Trump’s protectionist measure against China has spooked the global economy and the currency market. The situation is so grim that the India’s… Read the full story
Dollar edges higher with the Fed and trade worries back in focus
MarketWatchThe U.S. dollar finds some support on Wednesday ahead of the Federal Reserve’s policy update, while concerns about a trade war between the U.S. and China flared up again on Wednesday. Read the full story
Dollar leans on yuan, Aussie amid U.S. tariff threats
SYDNEY (Reuters) - The U.S. dollar edged up against the yuan and growth-leveraged currencies on Wednesday after a source familiar with the Trump administration's plans said the White House was about to propose higher tariffs on $200 billion in Chinese imports.
Forex - Dollar Rides Yen Slump Higher as Fed Meeting Gets Underway
Investing.com
© Reuters. Dollar rides yen slump higher as fed meeting gets underway Read the full story
Investing.com
© Reuters. Dollar rides yen slump higher as fed meeting gets underway Read the full story
Investing.com
Dollar edges up ahead of Fed, Aussie hit by trade concerns Read the full story
Yuan, Aussie slip on US tariff report; yen on defensive
The Chinese yuan dropped in offshore trade and the Australian dollar slipped on a report the U.S. administration will propose raising its planned tariffs on Chinese imports.Read more: https://www.cnbc.com/2018/08/
The Bank of Japan just set the table for more yen weakness: analyst
MarketWatchThe U.S. dollar is poised to strengthen against the Japanese yen heading to the end of 2018, forecasts Jane Foley, senior FX strategist at Rabobank. Read the full story
INSURANCE / HEALTH / SCIENCE
Sick of Confusing Medical Bills?
Consumer Reports
Doctor, hospital, and insurance bills are riddled with incorrect charges and surprise fees. Here's how to protect your finances. Read the full story
6 Ways to Fix Mistakes on Your Medical Bills
Consumer ReportsHere's how to clear up inaccurate charges and get the reimbursement you're owed Read the full story
Cases of debilitating Lyme Disease could be going undiagnosed
Sky NewsCases of bacterial infection that can lead to severe mental and physical problems could be much higher than previously thought, according to a new report. Read the full story
Your dreams could be an early clue to Parkinson's disease
CBS NewsActor Alan Alda revealed that he has Parkinson's disease, and strange behavior in a dream helped doctors figure out his diagnosis Read the full story
People With Depression May Have Less of This Chemical in Their Bodies
VICEThose who had the worst symptoms had the lowest levels. Read the full story
Wraps, salads recalled due to parasite concern
CBS NewsFeds warn that some food items sold nationwide containing romaine lettuce could be tainted with cyclospora Read the full story
USA TODAY
Many older Americans who own homes begin retirement looking for ways to cut expenses. And one such place could be their homeowner’s insurance. Indiscriminate cutting of coverage would be unwise. Read the full story
USA/CANADA
Fed Expected to Back Gradual Rate Hikes Despite Trump Criticism
Investing.com
© Reuters. Fed expected to back gradual rate hikes despite Trump criticism Read the full story
Fed Meeting Will Show Tilt To More Aggressive Rate Hike Policy
Investing.comEconomy Jul 31, 2018 11:38 GMT Investing.com - There’s little chance the Federal Reserve will raise interest rates at its meeting Wednesday, but economists say the central bank is likely to make it clearer than ever that two more rate hikes are coming this year. Thus far, Fed Chairman Jerome Powell has only confirmed expectations of two more hikes, but analysts say the Fed is likely to be more explicit about it at this point. Economists point to the minutes from the June FOMC meeting and more Read the full story
Fed Poised to Keep Rates on Hold, Awaiting Signs on Trump Economy
TheStreetThe Federal Reserve is expected to hold rates steady at a meeting this week, though many economists the central bank will hike borrowing costs at least twice more this year. Trump says he's "not happy" about Fed officials putting the brakes on his tax-cut-fueled growth. Every Federal Reserve meeting these days is, in a way, a referendum on President Donald Trump. While the Fed is expected to hold interest rates steady this week at a two-day meeting that concludes Wednesday, officials at the Read the full story
Opinion: It’s time for the Fed to activate safeguards against financial bubbles
MarketWatchIt’s that time in the business cycle when banks throw caution to the wind. The Fed must activate countercyclical capital buffers, writes Gregg Gelzinis. Read the full story
California’s huge energy decision: link its grid to its neighbors, or stay autonomous?
VoxIt’s partly a decision about clean energy — with a huge trade off. Read the full story
How the California Carr Fire morphed into a deadly "fire tornado"
AxiosFlames from the Carr Fire burns through trees along highway 299 on July 27, 2018 near Whiskeytown, California. On July 27, the Carr Fire in California's Sacramento Valley transformed from a modest wildfire into a nightmarish, towering inferno, complete with a rotating smoke plume and roaring winds on its periphery. The fire manufactured its own weather as it exploded in size, took off down hills and across a major river, and became a killer as it entered the city of Redding, home to nearly Read the full story
EMERGING MARKETS
Mexico's president-elect: Deal to renegotiate NAFTA could be reached in coming days
Mexico's president elect Andres Manuel Lopez Obrador said Tuesday that he believes Mexico will reach an agreement to renegotiate NAFTA in the coming days, according to Reuters.
Read more: https://www.cnbc.com/2018/07/
Mexico still preparing for U.S. car tariffs, backs WTO reform
Business InsiderJuan Carlos Baker, Mexico's deputy minister for foreign trade, poses for a photo during an interview with Reuters in Buenos Aires Thomson Reuters By Tom Miles GENEVA (Reuters) - Mexico is still preparing all options to respond to possible U.S. tariffs on car imports, Deputy Economy Minister Juan Carlos Baker said on Tuesday, despite U.S.-European talks last week that were supposed to have seen off the immediate threat. Last week European Commission President Jean-Claude Juncker said he had Read the full story
Shell, Petrobras units probed for Brazil price-fixing
Business InsiderA Shell logo is seen at a gas station in Buenos Aires Thomson Reuters By Pedro Fonseca RIO DE JANEIRO (Reuters) - Brazil's three largest fuel distribution companies are under investigation for fixing prices at the pump, police said on Tuesday, reigniting debate over potential collusion among gas station owners in Latin America's largest oil producer. The firms targeted by the probe are Petrobras Distribuidora SA , a subsidiary of state oil company Petroleo Brasileiro SA ; Ipiranga, a unit of Read the full story
Following steep losses, analysts turn bullish on emerging-market stocks
MarketWatchIs the tide turning for emerging-market equities? Read the full story
Trump Close to NAFTA Deal?
The Weekly StandardDon’t look now, but the Trump administration could be close to reaching a trade agreement with Mexico, following last week’s announcement of a deal with the European Union. A deal with Mexico to revamp the North American Free Trade Agreement (NAFTA) would represent a serious cooling of trade hostilities with U.S. allies following a summer of sharp criticism by President Trump. Politico and Inside U.S. Trade reported on Monday that technical negotiators from Mexico are due in Washington today for Read the full story
MIDDLE EAST
Norway demands Israel explain seizure of boat bound for Gaza
ReutersNorway has asked Israel to explain the legal grounds for detaining a Norwegian-flagged fishing boat seized while activists tried to sail with aid to the Gaza Strip, Norway's foreign ministry said on Tuesday. Read the full story
AFRICA
Opposition claims victory in Zimbabwe election, but government says it's too soon to say
Los Angeles Times
Supporters of Zimbabwe’s main opposition party danced in the streets of Harare -- this country’s capital — Tuesday to celebrate what the party Read the full story
Zimbabwe's ruling Zanu-PF wins parliament majority, electoral board says
CNN
Zimbabwe's ruling Zanu-PF party appears set to win a majority in parliament after winning 109 seats so far in national elections, the electoral commission announced Wednesday. Read the full story
Ruling ZANU-PF announced as winner of Zimbabwe's election
NBC News
The possibility of confrontation is an unnerving reminder of the tensions that pervade an African nation debilitated by Robert Mugabe's long rule. Read the full story
Africa: Will Brics Deliver Concrete Benefits to Africa?
AllAfrica
Once the pomp and ceremony and the rhetoric have been subtracted, did the 10th BRICS (Brazil, Russia, India, China and South Africa) summit in South Africa deliver much for Africa? The theme was 'BRICS in Africa: Collaboration for inclusive growth and shared prosperity in the Fourth Industrial Revolution'. As it did when it hosted its first BRICS summit in 2013, South Africa included an 'Africa outreach' component to last week's summit. Heads of African regional organisations and of all southern Read the full story
Africa: New, Updated Brics Investment Model for Africa Needed
AllAfrica
African countries must overhaul their current investment model with BRICS countries, which is not working optimally for the continent, if they are to unlock growth, economic development and reduce poverty more widely. The current BRICS' company Africa investment model may boost growth, but it does not reduce poverty significantly, nor create mass jobs or distribute wealth widely. Furthermore, the BRICS' company Africa investment model does not transfer technology, upgrade African countries' Read the full story
Africa: Mobile Industry to Add U.S.$150 Billion to Africa's Economy By 2022, As Subscribers Rise
AllAfrica
The mobile telecommunications ecosystem will add more than $150 billion in value to sub-Saharan Africa's economy in the next four years, equivalent to nearly eight per cent of the region's GDP. Last year, mobile technologies added $110 billion to the continent's economy, notes the 2018 Mobile Economy report by GSMA, the body that represents the interests of mobile operators worldwide. GSMA is pegging the rise to the growing number of mobile subscriptions, which it expects to hit 634 million - Read the full story
Zimbabwe: Forests Suffer Amid Tobacco Record-Breaking Euphoria
AllAfrica
"We aren't really concerned about planting trees," says one smallholder tobacco farmer -- whom we shall call Jessica -- from the Headlands. Jessica lives in Sherenje village along the highway to Chiendambuya in the Headlands, an old farming town sandwiched between Harare and Rusape, about 140km east of the capital.We are given free tree seedlings with every tobacco seed purchase, but farmers here never plant them. People have their own little pieces of forests where they cut down trees for Read the full story
South Africa's ANC to amend constitution to allow land expropriation
Reuters
South Africa's President Cyril Ramaphosa said on Tuesday the ruling African National Congress will push ahead with plans to amend the constitution to allow for the expropriation of land without compensation. Read the full story
ASIA
China’s plan to cut debt, ensure efficient capital may be mission impossible in a slower economy
South China Morning Post
Liu He’s appointment to head task force bodes well for China’s attempt to reform the nation’s state-owned enterprises Read the full story
Asian shares rise on trade war relief as investors await data
ReutersAsian shares rose on Wednesday, following gains on Wall Street, as a report of attempts to renew talks between the United States and China eased trade war fears, but investors will be keeping a close eye on data due today. Read the full story
Will China come to the negotiating table on trade?
Fox NewsInvestmark Advisory Group principal Michael Lee on how President Trump's tariffs are hurting China and why he expects Iran's currency to continue to decline. Read the full story
US and China reportedly seeking to restart talks to avert trade war
CNBCThe US and China are seeking to restart talks to avert a trade war, according to a Bloomberg News report. Read the full story
China will strive to hit growth target despite trade tensions with U.S.
ReutersChina will keep its economic growth within a reasonable range and achieve this year's target despite challenges, the state-run Xinhua news agency said on Tuesday as a trade war with the United States intensifies. Read the full story
EUROPE
Theresa May Is Banking on Corbyn to Help Deliver Her Brexit Plan
Bloomberg
Non-stop business knowledge Get more on The Bloomberg App Follow @Brexit on Twitter, join our Facebook group and sign up to our daily Brexit Bulletin. Theresa May was still reeling from the late-night resignation of David Davis, who quit hours earlier in protest at her Brexit plans. In a desperate bid to rescue her proposals, the prime minister sent her deputy to seek help from the enemy. It was July 9, and David Lidington invited hundreds of Labour politicians into a private room inside Read the full story
Britain's foreign secretary has brought his warning of a "messy divorce" with the European Union that could poison future relations to Austria, which holds the EU's rotating presidency Read the full story
British foreign minister Jeremy Hunt denied on Wednesday that warnings about fallout from a disorderly exit from the European Union were an attempt to scare opponents of the government's preferred Brexit plan into supporting it. Read the full story
The government's official plan for the post-Brexit economy would leave a major dent in Britain's national income equivalent to about £500 a year per person, a leading think tank has warned. Read the full story
Poland said on Tuesday that the risk of Britain dropping out of the European Union with no agreement on post-Brexit ties "cannot be ruled out" and it would spike if London and the bloc fail to agree details in October. Read the full story
The International Monetary Fund says Greece still faces an uphill struggle after the forthcoming end of its bailouts, and its long-term debt sustainability remains uncertain Read the full storyd
Bloomberg
Non-stop business knowledge Get more on The Bloomberg App Follow @Brexit on Twitter, join our Facebook group and sign up to our daily Brexit Bulletin. Theresa May was still reeling from the late-night resignation of David Davis, who quit hours earlier in protest at her Brexit plans. In a desperate bid to rescue her proposals, the prime minister sent her deputy to seek help from the enemy. It was July 9, and David Lidington invited hundreds of Labour politicians into a private room inside Read the full story
UK foreign secretary warns against messy EU divorce
ABC NewsBritain's foreign secretary has brought his warning of a "messy divorce" with the European Union that could poison future relations to Austria, which holds the EU's rotating presidency Read the full story
UK says Brexit no-deal warnings are 'Project Reality', not 'Project Fear'
ReutersBritish foreign minister Jeremy Hunt denied on Wednesday that warnings about fallout from a disorderly exit from the European Union were an attempt to scare opponents of the government's preferred Brexit plan into supporting it. Read the full story
Theresa May's Brexit plan would cost £500 per person annually
Sky NewsThe government's official plan for the post-Brexit economy would leave a major dent in Britain's national income equivalent to about £500 a year per person, a leading think tank has warned. Read the full story
Poland sees higher risk of no-deal Brexit
ReutersPoland said on Tuesday that the risk of Britain dropping out of the European Union with no agreement on post-Brexit ties "cannot be ruled out" and it would spike if London and the bloc fail to agree details in October. Read the full story
IMF uncertain Greece's debt is sustainable in the long term
ABC NewsThe International Monetary Fund says Greece still faces an uphill struggle after the forthcoming end of its bailouts, and its long-term debt sustainability remains uncertain Read the full storyd
d
CBI, ISX, Kauaihn Chatter:dd
CBI Update:
http://www.cbi.iq/
The CBI for Thursday 7/26/18 did update on the indicative rates Sell Rate 1190
The currency auction is 188,110,710
There are 2news and announcements for Thursday 7/26/18
1.Withdrawal of Elton Dag's license to broker the sale and purchase of foreign currencies
To the Ministry of Commerce / Companies Registration Department (leave withdrawal).
To the Ministry of Commerce / Companies Registration Department (leave withdrawal).
2.Contractors' entitlements (MOE schedule).
August 02, 2018
August 02, 2018
The CBI for Thursday 7/26/18 did update on the indicative rates Sell Rate 1190
Value Traded
1,480,248,073
Shares Traded
1,313,997,278
Kauaihn Chatter:
8-2-2018 Intel Guru Frank26 Mrs.Kamin, a Parliament Financial Committee Member for many years...comes out of nowhere and says, “I’m going to be talking to all of you here about our economic policy and about our ‘new paper,’ that will serve as new paper. A currency financial report is what I’m going to be turning into the CBI concerning this ‘new paper’. That is a HUGE leak! For real. Lady, your going going to be handing in a currency financial report about a program rate, are you?! Of course not, silly rabbit! ...a new report and a new currency...Shut up! Your talking about the Reinstatement of the Iraqi dinar! ...That is so blatant!. ...She’s talking basically about the education that has been given to the citizens of Iraq. She is not talking about an old program rate!
8-1-2018 Intel Guru RayRen98 [via sunny] ...we were trying to get confirmation of the information before we released it. It came to us yesterday or the day before. The first reference of $20 for 22 dinar. ...I had contacts to see what they could find out. One came back negative that their person did not see anything yet. Then confirmation today from a very good source that is 'deep, up in there' and said, "yes some are getting 1:1. Other sources said "it is supposed to start today!" ...we should see it in two to three days before we see it over here.
8-1-2018 Newshound Guru Adam Montana [...with the major tension with Iran do you honestly ever see a RV anytime soon and I mean within the next five years? So many Iranian are in Iraq right now I just don't see anything positive...I hate being a downer just wish there was more positive good news after week like the past.] I understand your disappointment in the lack of news recently... the fact of the matter is Iraq has accomplished 98% of what they need to do, and we are at the point where any day could be the day! That sounds like a good thing to me!
8-1-2018 Newshound/Intel Guru Mnt Goat This is why they are NOT issuing any more newer notes of the 250, 500 and 1,000 categories as these would be worth much more post-Reinstatement/RV. So for instance, if the rate comes out at $3.00 USD rate of exchange per dinar, the 250 dinar would be worth 750 USD, the 500 dinar worth $1,500 USD and the 1,000 dinar worth $3,000 USD. Part of the project to delete the zeros is to get as much of these older notes out of circulation. They needed to reduce the money supply on the streets by 2/3. So why would they keep issuing fresher, newer notes then? This is a good sign for us the RV is coming very soon. [post 2 of 2]
8-1-2018 Newshound/Intel Guru Mnt Goat Article: "THE ABSENCE OF SMALL MONETARY CATEGORIES IS DETRIMENTAL TO THE STABILITY OF THE LOCAL ECONOMY" Sounds to me they are itching for the lower denominations and much lower than the ones they talk about here in this article (250 dinar (worth 25 cents USD today), 500 dinar (worth 50 cents USD today) and 1000 dinar (worth $1 USD today). Of course with the newer categories these three will coincide alongside the new issued categories however for the 25 cents there will be a 25 cent fils coin and for the 50 cents there will be a 50 coin fils and for the $1 there will be a 1 dinar coin fils. (others I did not mention too). [post 1 of 2....stay tuned]
8-1-2018 Newshound Guru Adam Montana ...we're at the tail end of the "counting" of the recent election results. Abadi is still leading in a proactive manner, but there is no way to predict how things will shake out over the coming days. Will there be any surprise appointments? If so, who? Perhaps more interestingly... will a new leader start off with a bang? Introducing a new rate would certainly be a way to win a LOT of friends... who is really going to complain about something like that, if it's done swiftly? We certainly have a lot of potential in the coming days! I'm hanging on to my hat for sure.
8-1-2018 Intel Guru Frank26 [via sunny] I don’t give dates and rates but there is a date. All agreements have a date. ...They are well past that suitable environment. . . I don’t know that date but IMO it’s within 2018 at any moment they are ready to do so. IMF said not giving them any more loans, any more money. When have you ever seen the IMF back away from giving Iraq money? ...The answer is Never! No more loans, no more money. ...The IMF has backed away, because the Iraqis met all their obligations. All the obligations on the restrictions that was placed on them by the UNSC. I believe their budget is perfect. I believe a lot of things are in place for the RI of the currency of Iraq. ...The CBI is soon to come out with a change in their exchange rate...
8-1-2018 Intel Guru Bruce ...We did find that there was a meeting on Saturday that was not really advertised. It was in an undisclosed location in New York, and it was a meeting made of primarily made up of Big Bankers. ...What it was about was trying to come to a consensus on some of the procedures and protocols that we are going to experience when it comes to our exchanges and redemptions. We do have rates showing occasionally on front and back screens. We did get a rate on the dong today, but the rates were all supposed to update last night. ...the front screen rate on the dong was way more than we thought it would be, and the back screen was quite admirable as well. ...The point is we are in the process...I feel we are exactly where we need to be right now. Things are happening and rates are changing. Rates are coming up on the screens. I think we are going to be in pretty good shape.
8-1-2018 Newshound Guru Adam Montana [...with the major tension with Iran do you honestly ever see a RV anytime soon and I mean within the next five years? So many Iranian are in Iraq right now I just don't see anything positive...I hate being a downer just wish there was more positive good news after week like the past.] I understand your disappointment in the lack of news recently... the fact of the matter is Iraq has accomplished 98% of what they need to do, and we are at the point where any day could be the day! That sounds like a good thing to me!
8-1-2018 Newshound/Intel Guru Mnt Goat This is why they are NOT issuing any more newer notes of the 250, 500 and 1,000 categories as these would be worth much more post-Reinstatement/RV. So for instance, if the rate comes out at $3.00 USD rate of exchange per dinar, the 250 dinar would be worth 750 USD, the 500 dinar worth $1,500 USD and the 1,000 dinar worth $3,000 USD. Part of the project to delete the zeros is to get as much of these older notes out of circulation. They needed to reduce the money supply on the streets by 2/3. So why would they keep issuing fresher, newer notes then? This is a good sign for us the RV is coming very soon. [post 2 of 2]
8-1-2018 Newshound/Intel Guru Mnt Goat Article: "THE ABSENCE OF SMALL MONETARY CATEGORIES IS DETRIMENTAL TO THE STABILITY OF THE LOCAL ECONOMY" Sounds to me they are itching for the lower denominations and much lower than the ones they talk about here in this article (250 dinar (worth 25 cents USD today), 500 dinar (worth 50 cents USD today) and 1000 dinar (worth $1 USD today). Of course with the newer categories these three will coincide alongside the new issued categories however for the 25 cents there will be a 25 cent fils coin and for the 50 cents there will be a 50 coin fils and for the $1 there will be a 1 dinar coin fils. (others I did not mention too). [post 1 of 2....stay tuned]
8-1-2018 Newshound Guru Adam Montana ...we're at the tail end of the "counting" of the recent election results. Abadi is still leading in a proactive manner, but there is no way to predict how things will shake out over the coming days. Will there be any surprise appointments? If so, who? Perhaps more interestingly... will a new leader start off with a bang? Introducing a new rate would certainly be a way to win a LOT of friends... who is really going to complain about something like that, if it's done swiftly? We certainly have a lot of potential in the coming days! I'm hanging on to my hat for sure.
8-1-2018 Intel Guru Frank26 [via sunny] I don’t give dates and rates but there is a date. All agreements have a date. ...They are well past that suitable environment. . . I don’t know that date but IMO it’s within 2018 at any moment they are ready to do so. IMF said not giving them any more loans, any more money. When have you ever seen the IMF back away from giving Iraq money? ...The answer is Never! No more loans, no more money. ...The IMF has backed away, because the Iraqis met all their obligations. All the obligations on the restrictions that was placed on them by the UNSC. I believe their budget is perfect. I believe a lot of things are in place for the RI of the currency of Iraq. ...The CBI is soon to come out with a change in their exchange rate...
8-1-2018 Intel Guru Bruce ...We did find that there was a meeting on Saturday that was not really advertised. It was in an undisclosed location in New York, and it was a meeting made of primarily made up of Big Bankers. ...What it was about was trying to come to a consensus on some of the procedures and protocols that we are going to experience when it comes to our exchanges and redemptions. We do have rates showing occasionally on front and back screens. We did get a rate on the dong today, but the rates were all supposed to update last night. ...the front screen rate on the dong was way more than we thought it would be, and the back screen was quite admirable as well. ...The point is we are in the process...I feel we are exactly where we need to be right now. Things are happening and rates are changing. Rates are coming up on the screens. I think we are going to be in pretty good shape.
7-31-2018 Intel Guru Frank26 [ I notice there was an article that mention Mousal opening up a Central Bank. Could that have any impact on what we all seek? ...and the change of rate?] YES IT DOES.
Elmer:
Not in today
Artmeister:
Not in today
Catnip:
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ARTICLE 1 (from PM Abadi's website; posted only on Arabic side, not on English side)
Prime Minister Dr. Haider Abadi: The country has passed the previous challenges and won the cooperation of its sons and we will achieve reconstruction and construction also with our cooperation
Prime Minister Dr. Haider al-Abadi said that the country has passed the previous challenges and won the cooperation of its sons and that we will achieve reconstruction and construction also with our cooperation and a record period.
This came during a meeting with a delegation of dignitaries, elders and people of Karbala and the local government in the presence of the reconstruction and services in the provinces. Dr. Abadi welcomed the delegation and the people of Karbala to listen to their demands, noting that the province of Karbala has privacy and pressure on the influx of citizens.
He added that the steadfastness of the Iraqis was in solidarity and stand with the security forces and the fatwa of the holy jihad to allow Sayyid al-Sistani, where they achieved the victory, which the world described as a miracle.
Dr. Abadi said that sabotage takes place in a moment and construction needs years, especially construction after sabotage, which takes longer to remove the destruction.
He explained that we can achieve through an organized program and open a glimmer of hope through the vision of citizens to achieve gradual progress.
Dr. Abadi pointed to the right to peaceful demonstration, indicating that it is a healthy phenomenon and useful to listen to the demands of citizens.
In the light of the meeting, the Prime Minister addressed the following:
1. The Ministry of Agriculture shall take the necessary measures to activate the agricultural sector in the province and submit an urgent plan for approval by the Council of Ministers.
2 - Financing the necessary allocations for hospitals and specialized centers in the province of Karbala of medicines and medical supplies and consider the needs provided by Karbala Health Department.
3 - The Higher Authority for Coordination between the provinces to report on the level of implementation of the transfer of powers from ministries to local governments at the next meeting of the Commission to resolve their transfer.
4. Accelerate the completion of the Turkish Hospital and Children's Hospital.
5 - Financing the completion of the metal silo in Karbala.
6 - Include the sons of Karbala appointment in the refinery of Karbala.
7. The National Investment Authority and Karbala Investment Authority shall activate and follow up the investment opportunities established in the investment map in coordination with the local government.
8. The Ministry of Finance shall provide the necessary funds to complete the construction of the school buildings, where the completion rate is 90% and the requirements of the file submitted by the General Directorate of Education of Karbala.
9. Reactivating the agricultural initiative, loans of the Agricultural Bank and rescheduling of debts and interest on loans whose projects have been damaged due to weather conditions or water scarcity.
10. The Ministry of Industry, Minerals and other bodies shall undertake the rehabilitation of production and service projects to provide sustainable employment opportunities for the people of the governorate.
11. The Ministry of Planning supports the policies and strategies prepared in Karbala governorate to support strategic development plans.
12 - Launching appointments within the movement of owners in different sectors and the Ministry of Finance provide the necessary funds for this.
13. The Ministry of Labor and Social Affairs and other ministries shall activate rehabilitation programs for the people of the province through training and rehabilitation centers, with payment of the wages due to trainees during the months of training.
14. Refinancing the Lending Project in the Industrial Initiative and the Small Enterprise Support Initiative for the Sons of Karbala Governorate.
15- Studying the appropriation of an appropriate amount to compensate for the expropriation of land allocated for some important projects.
16. The Ministry of Higher Education should study the proposal of the University of Karbala to amend the instructions for disbursement from the Higher Education Fund, in order to ensure the unification of the largest part towards addressing the decoupling of bottlenecks and reducing the percentages allocated to the rewards and incentives from their revenues.
17. The Ministry of Planning shall review and amend the Council of Ministers' Resolution 340 to achieve greater flexibility for the coverage of sluggish projects with a completion rate of less than 90% in a reading of its strategic importance.
18 - Work on the completion of the pumping station Razzaza suspended and improve water services and municipal services in the province and the Ministry of Finance to secure the necessary amounts, including funding of current expenditures under the prescribed rates.
19. The Ministry of Oil shall provide the necessary quantities for the operation of private generators. The Ministry of Electricity shall handle the bottlenecks in the transmission and distribution networks and shall secure the prescribed share of the energy conservation.
20 - Conducting urgent maintenance on part of the road pilgrimage and improving the necessary services on the road in coordination with the Ministry of Construction and the Hajj Authority.
21. The Ministry of Trade shall verify the complaints submitted concerning the quantities and type of foodstuffs.
22 - Securing the necessary needs for the date of the date, including the improvement of electrical energy and rehabilitation of the eyes in the eye of dates and completion of the project of irrigation pipes in the judiciary.
23. The Ministry of Water Resources is responsible for addressing the problems related to the Shatt Abu Ruwa and Ben Hussein dams and the packaging of the mabazal, which have become a source of pollution in the governorate and in particular the Jair district.
24 - Financing the province of its right to allocate the development of regions for the completion of ongoing projects and identify priorities in coordination with the Ministry of Planning.
25 - work on the completion of service projects (streams and tiling) for the province of Hindi and the Ministry of Finance funding allocations for the year 2018.
26. Verify that there is no duplication of duties and taxes, including professional tax.
27. The Ministry of Planning and the competent committee shall review the conversion of both Husseiniya and Al-Hur area to the district.
28. Provide the necessary equipment to operate the operating theaters received (24) hall.
29. Addressing the possibility of repealing Article 14 of 1970.
Prime Minister 's Media Office
1 August 2018
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ARTICLE 2
Sadr's source: Iran wants a government loyal to it and Shiite forces reject technocrats
2018/8/2 10:51
A source within the Sadrist movement: "Iran is exerting pressure to appoint a head of the Iraqi government from the forces loyal to it."
The source, who declined to be named, said in a press statement: "Iran is going to economic sanctions will be applied in September by the US administration, which leads to pressure to choose an Iraqi prime minister from the forces close to it."
He added: "The introduction of the leader of the Sadrist movement, Moqtada al-Sadr initiative consisting of several points, comes to embarrass the lists aimed at forming a new government in a sectarian and partisan concept."
The source explained: "The alliance led by Hadi al-Ameri and the coalition of the rule of law led by Nuri al-Maliki, seeking to isolate the alliance and the wisdom and the National Coalition for participation in the new government."
He continued: "The Shiite forces informed the leader of the Sadrist movement earlier rejected the formation of a government of technocrats away from the tendencies of the parties and lists winning in the elections."
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ARTICLE 3
Kubic: International investigation mission to document the crimes of a fugitive will arrive in Baghdad soon
2018/8/2 11:34
Jan Kubic, representative of the Secretary-General of the United Nations in Iraq, said that the head of the international investigation mission to document the crimes of an advocate will arrive in Baghdad in the coming days.
He added that the visit to consult with the Iraqi authorities concerned about the mechanism of work of the mission on the crimes of organizing a terrorist advocate after the adoption of the United Nations Iraq's proposal to document crimes against.
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ARTICLE 4
Lift the stack of hardware in the vine
2018/8/2 12:04 • 3 times read
[Ayna-Baghdad]
Security forces seized equipment in the Karma district of Anbar province. A statement issued by the Center for Security Information received by the agency all of Iraq [where] a copy of it, that "the field detachments belonging to the Directorate General of Intelligence and Security and in coordination with the third regiment in the 51st Brigade of the 14th Division found, according to accurate information, a pile of equipment in the area of Arimiya, 10 improvised explosive devices are filled with high-explosive materials, 8 detonators. "
"The material was lifted by the engineering effort," he said
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ARTICLE 5
Kuwait refuses to name the invasion as "Saddam" and the Iraqi Embassy is responding
2018/8/1 20:19
[Ayna-Baghdad]
The Iraqi embassy in Kuwait issued a statement on Wednesday, in which it replied to its ambassador's remarks on the "Iraqi invasion" of Kuwait.
The Iraqi embassy said that "what we put forward is only to wish the embassy to refer to the invasion as a invasion of Saddam for many considerations in the interest of the two countries," according to the Kuwaiti newspaper "An-Nahar".
"The statements were not intended to interfere in the internal affairs of the State of Kuwait, as we emphasize the depth of relations and their importance and mutual respect." "We would like to recall that the oppressed Iraqi people were against aggression against a sister country and a neighbor, and this was manifested by the positions of the national resistance forces that condemned the invasion."
The Iraqi ambassador to Kuwait, Alaa Hashemi, demanded during an interview with the newspaper "An-Nahar", change the description of the invasion in the Kuwaiti curricula and media discourse from the invasion of "Iraqi" to "Saddam". Al-Hashemi demanded, "the Iraqi people's dissatisfaction with the invasion of Kuwait, in order to create tolerance and rapprochement in all aspects between the two countries."
The statement provoked a public outcry in Kuwait as a large number of deputies called on the government and the Ministry of Foreign Affairs to address the Iraqi ambassador's interference with the curriculum and replace it with the "Saddam invasion", stressing that "the brutal invasion of Iraq will not be forgotten and that blood will not become water no matter how long the time and the mass of prisoners and martyrs will not Extinguished ".
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