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Money, a source and document representing the state, is a symbol and expresses its political and religious system and its own philosophy. In comparison to date writing, documentation across currencies can not be questioned or challenged as a concrete fact and document for a certain period of time. Humanity has greatly benefited from the history of civilizations through the study of its currencies and their holdings
The discovery of currency is compared to the discovery of printing, as it facilitates the process of exchange between people and traders alike, and the currency is one of the main components of the market; without it, there can be no buying and selling
Before the entry of the British occupation forces in October 1914 was the currency traded among the people is the Ottoman lira, after which the British occupation authorities introduced the Indian rupee as the currency of circulation, and after independence was established the first council to issue the Iraqi currency in 1931, was linked to the Iraqi dinar in pounds sterling, The July 14, 1958 Revolution The dinar was pegged to the pound and pegged to the US dollar
The Central Bank of Iraq issued a new currency of paper and metal, bearing the slogan of the new Republic. New issues of paper currency were issued in 1971, 1973, and 1978. The Iraqi dinar suffered a continuous deterioration in its value after the Iran-Iraq war began, dropping from $ 3.3 per dinar in 1980 to about $ 4 in 1988.
As a result of the invasion of Kuwait and the issuance of resolutions of the Security Council to impose a blockade on him, and the deterioration of the value of the Iraqi dinar, forced the Central Bank of Iraq to issue currencies that were not traded before, issued banknotes of 50 and 100 dinars, followed in 1995 issued a paper of 250 dinars, The year 2000 issued a cash paper bearing the category of 10,000 dinars, and it is noted that all these categories were carrying the image of former President Saddam Hussein. The citizen carried large packages to buy his simple needs, which do not exceed eating and drinking
After the fall of the former regime, specialists began to think about how to restore the spirit of the Iraqi dinar, and remove the heavy legacy of the Iraqi economy, they began to put the idea of removing three zeros from the current currency
The deletion of zero is defined as a process by which the nominal value of the currency is adjusted due to high inflation and devaluation. Countries such as Brazil, Argentina (South America), Yugoslavia and Poland (countries in the orbit of the Soviet Union) Ireland (for joining the European Monetary Unit), a process different from the devaluation process,
But can such action be implemented? What are the pros and cons of the economic movement in Iraq? Could it really help to reduce inflation rates? Finally, what is the right timing for it?
This process is still controversial in the government and monetary circles, businessmen and specialists. Some believe that doing such a process will lead to more corruption and tampering with public money, because of what is happening in the process of changing the currency, and it will create a state of chaos and confusion in contracts internally and externally, And that it will not change anything from the fact that the amount of the issued paper will remain the same
At a time when an optimistic team believes that this process will lead to the restoration of prestige of the Iraqi dinar, if accompanied by the improvement of the dinar exchange rate, and the process of calculations in various fields will be less complex and simply
We do not deny that the process of deleting zeros is a necessary and important step comes within the need for the country to the process of administrative reform of the currency contribute to reduce transaction costs and cash transactions in the economic process, and reduce the size of the country's monetary mass and help to facilitate calculations and reduce the amplification of numbers, if applied Properly and at the right times. But there must be introductions to that process, including choosing the appropriate time in which the Iraqi economy in a state of stability, and then create the economic environment in a deliberate manner to implement the deletion, and this requires the procedures and financial and banking decisions taken by the financial authority in the country.
The process of replacing those "in the process" will cost the state budget of 172 billion dinars (150 million dollars), which is a large amount is significant, if we add the effort of the banking staff and the time that will be lost by the process of switching, and can not Forget the attempt of the weak souls who will try to profit from that process by all means and methods!
It is true that this process will not have an impact on the purchasing power of the citizen, since the exchange of currency will take place in another currency. There may be some shock in the market as a result of this switch, but it is a temporary shock. It is not bad to see the experiences of many countries replaced the currency, such as Turkey, which continued its currency exchange for four years, the Turks remained trading the old currency with the new currency until they were all withdrawn from the market without the market confused
The most important negatives that will accompany the process of deletion of zeros is the cash illusion, as the deletion of three zeros from the Iraqi currency will sign the citizen under the illusion of cash, which is the most prominent negative that can affect the Iraqi citizen in the event of deletion of three zeroes of the current currency is a significant effect, This will be the result of colliding with the value of the new currency after the deletion, leading him to believe that the value of its assets has decreased by dividing them on the three zeros.
The Iraqi citizen would like to see his currency strong, so the process of raising zeros will contribute to the revaluation of the currency, and reduce the proportion of demand for hard currency, which is characterized by force, and will lead to a balance between the value of domestic and foreign currency and will give them market power at home and abroad, It is possible that the value of the Iraqi currency against the US dollar, for example, that the employee who receives 1200 thousand dinars at the exchange rate 1200, the purchasing power of $ 1000 dollars and if the strengthening of the dinar equivalent to 500 dinars to the dollar will be purchasing power $ 2400 instead of $ 1000
Editorial date:: 2018/11/30 11:14•71 times scheduled
{International: Euphrates News} The G-20 summit will kick off in the Argentine capital Buenos Aires on Friday.The agenda of the summit includes discussions on international trade, the growth of the global economy, the strengthening of the global financial system, strengthening mechanisms for its control, migration, asylum, climate change and the fight against terrorism.
On the sidelines of the summit, the G-20 leaders will hold separate meetings, most notably the US president's meeting with his Chinese counterpart. The two sides are expected to reach a trade agreement that will end months of trade war because of export duties. The following is a list of leaders participating in this year's summit: Crown Prince Mohammed bin Salman US President Donald Trump German Chancellor Angela Merkel Japanese Prime Minister Shinzo Abe Chinese President Xi Jinping British Prime Minister Theresa May French President Emmanuel Macaron Prime Minister of India Narendra Moody Prime Minister of Australia Scott Morrison Canadian Prime Minister Justin Trudeau Argentine President Mauricio Macri Prime Minister of Italy Giuseppe Conti President of Mexico Enrique Pinia Nieto Turkish President Recep Tayyip Erdogan Russian President Vladimir Putin President of South Korea Mon Jai President of Brazil Michel Tamer European Union President Donald Tusk Indonesian Vice President Joseph Kalla South African President Cyril Ramavosa The G-20 is a major forum for the world's major economies, which seek to build consensus on international policies to address economic challenges and, over time, become the most prominent international forum on cooperation in the global economy. With the passage of time and the successive summits of the group, discussions have expanded to include new files such as development, climate change and counterterrorism
{Baghdad: Al-Furat News} A World Bank official confirmed the Bank's intention to support Iraq's economy.
"President Barham Salih received at the Peace Palace in Baghdad on Thursday afternoon World Bank Vice President for the Middle East and North Africa Farid Belhadj, accompanied by Regional Director of the World Bank for Central Asia Saroj Kumar Jha," said a presidential statement received by the {Euphrates News} . "The World Bank is determined to support the Iraqi economy positively and work to support partnership with Iraqi financial institutions by increasing areas of cooperation and adopting the best investment of resources and energies," said the World Bank Vice President for the Middle East and North Africa. He also discussed with the President of the Republic ways of cooperation between Iraq and the World Bank. The President of the Republic referred to the importance of the World Bank's support for social and economic development projects in Iraq, as well as appropriate reforms, combating corruption and the need to develop and diversify the sources of the national economy."The achievement of financial, monetary and economic stability in Iraq is not only a goal but also a basis for political stability and an important strategic project for sustainable development and civil development in the country," President Barham Salih said.
European security official Abdul Mahdi: We support Iraq militarily and security
(AFP) - Prime Minister Adel Abdul Mahdi met on Thursday with European Union (EU) Counterterrorism Coordinator Gili De Kerkov and his accompanying delegation to discuss the war on terrorism.
A statement from the Prime Minister's Office received the agency {Euphrates News} a copy of it, that Kirschov confirmed the support of the European Union for Iraq and his government in pursuit of terrorist cells and the other military and security. The Prime Minister pointed out that "gang crimes support terrorism across borders and Iraq has provided a large number of victims who deserve to provide great support to them and their families." "The international community and the European Union should strengthen support for Iraq during the next phase," he said.
Electricity: Targeting the energy import line (Mersad-Diyala) with improvised explosive devices and mortars
The Ministry of Electricity announced on Friday the targeting of the energy import line (Mersad-Diyala), with improvised explosive devices and mortars.
The media said in a statement received by "Baghdad Today", "The terrorists targeted the evening of Wednesday, the line of import power electric pressure supercharged (Mersad - Diyala) (400 KV), which led to his departure from service, loss of (400) megawatts of energy electrical".
He added that "the work teams from the Diyala network of the General Directorate of Energy Transmission Northern Region, accompanied by the popular crowd heroes, went to detect the towers of the line within the area of the incident, because of the collapse of road barricades, and flooded by the floods that swept through the areas of Diyala province, Tower No. 188 in the area of Hafir An explosive device killed one of the crowd and wounded two others, as well as an explosive device near the towers 204 and 205, killing two members of the 110th brigade of the crowd Popular ".
However, the discovery resumed, and the crowd was able to dismantle five more explosive devices, which the terrorist elements had planted in the way of workers on the line."
The terrorist elements targeted the maintenance and detection teams and the crowd of mortals, who did not dissuade these men from continuing work late at night. The work will continue at dawn on Friday, 30/11/2018, in coordination with the security forces for the purpose of securing the protection of the work teams and the introduction of effort Military engineering and intelligence to resume detection and locate the targeting of the line for maintenance and return to service. "d
URGENTTerrorist blast targets Mersad-Diyala power line
(Baghdad: Al-Furat News) Terrorists targeted the terrorists on Wednesday evening, the line of importing electric power super pressure (Mersad - Diyala) (400 KV), which led to his departure from service, and the loss of 400 megawatts of electric power.
"Since early Thursday, teams from the Diyala Networks Department of the General Directorate of Energy Transfer in the northern region, accompanied by the popular crowd of heroes, walked on foot to uncover the line towers within the area of the accident," a statement by the Ministry of Electricity said. , Because of the collapse of road barricades, and flooded by water because of the floods that swept through the areas of Diyala province. He pointed out that "Upon reaching the tower numbered No. 188 in the area of the excavations exploded an explosive device led to the death of an officer of the forces of the crowd and wounded two others, as well as a bomb explosion near the towers {204} and {205}, led to the death of two of the Mujahideen Brigade (110) of the popular crowd. " "Despite this, the investigation was resumed and the men of the crowd were able to dismantle five more explosive devices that the terrorist elements had planted in the way of the workers on the line," the statement said. He pointed out that "the terrorist elements targeted the maintenance and detection teams and the crowd of mortals, which did not dissuade them from continuing work late at night, and will continue to work until dawn on Friday, in coordination with the security forces for the purpose of providing protection to the task forces and the introduction of military engineering and intelligence to resume detection and identification Where to target the line for maintenance and return it to service. "Done
Iraq seeks international support to pursue terrorist cells and elements
{Baghdad: Al-Furat News} Iraq asked the international community to support him in the pursuit of terrorist cells and elements.
"Prime Minister Adel Abdul Mahdi received on Thursday the special adviser to the Secretary-General of the United Nations Karim Khan and the accompanying delegation, and during the meeting discussed the support of the international community to Iraq in the field of reconstruction and the pursuit of cells Terrorism and the strengthening of Iraq's role in the region and the world after it was able to win over the gangs of terror and contributed greatly to the reduction of the threat to global peace. " "Iraq has made great sacrifices in its war against terrorism and many elements of the terrorist group are carrying foreign nationalities, which requires the international community and these countries to shoulder their responsibilities towards Iraq and the Iraqis who fought on behalf of the world and to support Iraq in pursuing these terrorist cells and elements, ".is over.
(Baghdad: al-Furat News) A member of the Kurdistan Democratic Party bloc in the parliament of Kurdistan, the steps to establish a constitution for the region.
In a press statement, Omid Khoshnao said that "the parliament and at the beginning of its legislative session will form a committee to prepare a draft constitution for the Kurdistan region." He added that "the parliament and in a special session will vote on the paragraphs of the draft project, and then will vote on the entire project," noting that "and after the vote of parliament, and in coordination with the Independent High Electoral Commission for the referendum in the region, will be a referendum on the draft constitution, Either he will accept the draft or reject it. " Khosnaw stressed that "in the case of a constitution for the Kurdistan region, many of the problems in the region will be resolved, with regard to the formation of the government and the naming of the presidency of parliament and the political system in the region."
Independent political day Al-Alusi revealed that Iran had sent a threatening message to the United States of America directly about the US quest to reduce and end Iran's influence in Iraq, which has gone deep.
"US officials told us that Iran had threatened to burn Baghdad, if Iran's influence in Iraq was reduced," al-Alusi said in a press statement following the eighth day. "The burning of Baghdad means that Tehran is giving orders to its pro-Iraqi factions to move Violence and others, "he said.
Alusi added that "the US response to the threat message was to change the US ambassador in Baghdad, as well as to change the advanced staff in the embassy in Iraq, and increase the work and procedures to reduce or terminate Iranian influence in the country."
Read moreHam Necmettin Karim breaks his silence and makes a new statement about Kirkuk: 4 things that Iraqis do not know
Alusi stressed the need to end the Iranian infiltration into Iraq because of its danger to the security and future of Iraq and the Iraqis.
In the same context, the leadership of the "coalition of victory," Ali al-Sunaid, the burning of Iraq because of conflicts and Iranian-American conflicts, indicating that "the government and the House of Representatives to neutralize Iraq from the conflicts and Iranian-American conflicts, Iraq must have sovereignty and national decision, In the side of the American axis and not next to the Iranian axis, "as he put it
Abdul Mahdi stresses the provision of an appropriate environment for investment in Iraq
Baghdad / Al-Ghad Press: Prime Minister Adel Abdul Mahdi, during his meeting with the Vice President of the World Bank Group for the Middle East and North Africa (MENA), stressed on Thursday the creation of a suitable environment for investment in Iraq.
In a statement received by Al-Ghad Press, the Information Office of the Prime Minister said that "Abdul-Mahdi on Thursday, Vice-President of the World Bank Group for the Middle East and North Africa and the delegation accompanying him."
He stressed that "Iraq should focus on investment and provide an environment suitable for him, which will contribute positively to the reconstruction of the country and provide services to citizens, noting that" the dependence should be on productive loans that promote the economy and production and employment and not consumer loans that weigh the budget " .
The delegation stressed the continuation of the World Bank "to support Iraq and cooperation in productive projects and simplify procedures and help young people to establish and register projects and develop their capabilities in the success."
ERBIL Representatives of the Kurdistan Regional Government (KRG) attended on Thursday the UN World Conference Against Racism in Switzerland's Geneva city.
The 97th international conference has been kicked off on Monday, November 26 and it will continue until December 14, while 29th and 30th of November have been dedicated to discussing about Iraq.
The Kurdish delegates, among whom was the KRG Coordinator for International Advocacy, Dindar Zebari, explained in the meeting Kurdistan Region's procedures and practical efforts that are being made to ensure coexistence across the region.
"We as the Kurdistan Region's delegates will present all of the steps the KRG has made to ensure and further strengthen the coexistence and social equality, especially in terms of Syrian refugees, IDPs, children, women, and religious and ethnic groups," Zebari explained.
He noted that they would also try to disclose the crimes committed by the Islamic State (IS) against minorities, and KRG's efforts to liberate the Yezidi abductees from IS captivity and ensure the rights of the foreign laborers in the region.
Iraq as Chairman of the Planning and Budget Committee of Asian Parliaments
The Executive Council of the Asian Parliamentary Assembly voted on the presidency of Iraq for the next meeting of the Planning and Budget Committee to be held in Baghdad in early 2019.
"The Iraqi delegation headed by a member of the Foreign Relations Committee, MP Talabani, participated in the meetings of the Executive Council of the Asian Parliamentary Assembly held on Thursday, 29/11/2018 in Istanbul, Turkey, as part of the 11th session of the Asian Parliamentary Assembly."
He added: "During the meeting, the reports of the permanent committees and the agenda were discussed and decisions and recommendations were made.
Kauaihn Economic Times:
ECONOMIC TIMES / CHATTER
FOR TWITTER ACCT
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A businessman handed out $1,000 checks to all 1,085 staff and students at wildfire-damaged Paradise school
CNN
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Keeping it quick: Trump taking in-and-out trip to Argentina
ABC News
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OIL/COMMODITIES/ENERGY
PRECIOUS-Gold gains on Fed comments, palladium hits record
Gold steadies as Powell’s interest-rate insight awaited
MarketWatch
Gold trades near unchanged Wednesday, with the metals and most financial markets awaiting more insight on Federal Reserve thinking. This time the interest-rate update comes from top policy maker Jerome Powell.Read the full story
Gold prices fall sharply today, silver rates slump
Livemint
New Delhi: Muted demand from jewellers and weak global cues sent domestic gold prices sharply lower today. Gold prices today fell Rs 290 to Rs 31,560 per 10 grams. Tracking gold, silver rates too slumped Rs 200 to Rs 37,100 per kg. Prices of gold of 99.9% and 99.5% purity dropped by Rs 290 each to Rs 31,560 and Rs 31,410 per 10 grams, respectively. Sovereign gold prices fell Rs 100 to Rs 24,700 per piece of eight gram. Silver ready fell by Rs 200 to Rs 37,100 per kg while weekly-based deliveryRead the full story
METALS-Base metal prices bounce in wake of Fed comments
Reuters
Shanghai base metals rose onThursday, tracking equities higher after investors saw commentsfrom the U.S. Federal Reserve chair as a sign the central bank'sinterest rate hike cycle is drawing to a close. Jerome Powell said at alunch on Wednesdaythat the Fed'spolicy rate is now "just below" estimates of a level thatneither brakes nor boosts a healthy U.S. economy. Higher interest rates mean higher borrowing costs, which canreduce economic activity and consumption, and see capital flowinto assetsRead the full story
Burned by Selloff, Investors Keep Oil at Arm’s Length
The Wall Street Journal
A dramatic fall in crude prices wiped out bullish speculators after an unexpected influx of supply and signs of economic weakness. But even potentially bullish new signals haven’t coaxed some off the sidelines.Read the full story
Oil Drifts Awaiting G20 and OPEC; Powell Speech Delays $50 Test
Commodities Nov 28, 2018 17:42 GMTInvesting.com- Oil prices drifted today as the long roads to Buenos Aires and Vienna beckon. But there’s also the Fed diary to consider and what it could do to oil’s volatility between now and Friday’s G20, as well as the OPEC meeting a week later. Instead of reacting earnestly to latest EIA data, which reported a tenth-straight week in U.S. crude builds, again larger than expected, participants in the oil market spent Wednesday waiting for Fed chief JeromeRead the full story
Crude Oil Slides Below $50 for First Time in Over a Year
The Wall Street Journal
Oil prices were hit by another wave of heavy selling, with fears of climbing production dragging the two most popular benchmarks to lows not seen in more than a year.Read the full story
BANKS/BANKING/CREDIT
Concerned Bankers, Investors Warn Federal Reserve About Leveraged Credit Market
Insurance Journal
Bankers, executives and investors are warning Federal Reserve officials behind closed doors that record leveraged lending to companies from lightly-regulated corners of Wall Street could make any economic downturn harder to manage. With the second-longest U.S. expansion in its advanced stages, the worry is that a key part of the credit market could be particularly vulnerable to a slowdown, as highly-indebted companies face a greater risk of default. Some of those involved in the debate who spokeRead the full story
EU states to delay reform of bank money-laundering oversight, draft shows
Reuters
European Union finance ministers are set to delay a reform of money laundering supervision at banks next week because they first want to assess recent alleged cases of financial crime at the bloc's lenders, an EU draft document shows.Read the full story
Global Financial Services Bullish On AI, The 'Disruptive Tech' Frontrunner
Forbes
Despite almost 75% of senior financial services decision-makers globally being bullish on disruptive technologies like Artificial Intelligence, blockchain and robotics and view them as having a positive impact on business going forward, only a third say these technologies are being deployed today.Read the full story
Tanzania central bank suspends five banks from interbank FX market
Reuters
Tanzania's central bankhas suspended five banks from trading in the interbank foreignexchange market for one month for breaching regulatory rules, asenior official said on Wednesday.Read the full story
TREASURIES/BONDS/STOCKS
Bond traders are now betting the Fed will pause rate hikes in 2019
MarketWatch
Treasurys rally on expectation Fed chief Jerome Powell will put a hold on rate increases in 2019Read the full story
Stocks Gain, Dollar Drops on Powell's Dovish Tilt: Markets Wrap
Bloomberg
An equity rally looked set to extend to Asia after a dovish tone from the Federal Reserve Chairman Jerome Powell fueled speculation the central bank may pause lifting interest rates next year, spurring an advance in U.S. stocks and sinking the dollar.Read the full story
U.S. retail investors still smarting from bond fund losses
Reuters
By Trevor Hunnicutt NEW YORK, Nov 28 (Reuters) - U.S. fund investors pulled themost cash out of bondsin three weeksduring the latestseven-day period, according to Investment Company Institute(ICI) data on Wednesday that revealed increased concern byretail investors. Mutual funds, heavily used by retail investors, reported a22nd straight week of withdrawals as $17 billion flowed out inthe seven days through Nov. 20. Exchange-traded funds (ETFs), whose sales are traditionallydriven more byRead the full story
Will The Fed Crash The Market Again After Powell Speech? Forbes
Everyone's favorite Fed Chairman speaks in NYC today. Will the markets tank as usual when he's done talking?Read the full story
GLOBAL MARKETS-Stocks gain, dollar sags on dovish-sounding Fed
Reuters
* MSCI Asia-Pacific index up 0.6 pct, Nikkei gains 0.9 pctRead the full story
Economy Nov 29, 2018 10:36 GMTInvesting.com- Here are the top five things you need to know in financial markets on Thursday, November 29: 1. WTI Oil Falls Below $50 In commodities, oil prices sank to their lowest levels in more than a year, with the U.S. benchmark dropping below $50, as swelling domestic inventories and record production scared off investors. U.S. West Texas Intermediate crude futures were down 40 cents, or about 0.8%, at $49.89 per barrel by5:35AM ET(1035GMT), their lowestRead the full story
CRYPTO'S / DIGITAL CURRENCY
Pay Your Taxes In Bitcoin, Trigger Tax Losses On Price Drop Too
Forbes
Crypto markets have slumped big time, but Ohio is moving to accept crypto for tax payments. And since crypto is property for tax purposes, that can create gain or loss.Read the full story
Bitcoin up 10 pct, on course for its biggest daily rise since April
Reuters
Bitcoin rallied 10 percent onWednesday to more than $4,100, putting it on coursefor its biggest daily rise since mid-April as it pulled itselfout of a recent slump.Read the full story
Ethereum [ETH/USD] Technical Analysis: Bull rally to occur in the market soon?
AMB Crypto
Ethereum [ETH], the third-biggest cryptocurrency by market cap, seems to have effectively dodged the bear's attack. The coin has been prepping to defeat the bear since the beginning of this week. The coin, which was trading at the $100-margin, has now successfully crossed the $110-mark. According to CoinMarketCap, at press time, Ethereum was trading at $115.38,...Read the full story
Cryptocurrency Analysis: Premonitions and Foreboding
Forbes
As the Federal Reserve issues its own warnings of a particularly large market drop, investors continue to seek certainty where none can be found in any market. Could cryptocurrencies provide a safe haven? Find out more here.Read the full story
Top 3 Price Prediction Bitcoin, Ripple, Ethereum: The Last Sales Leave The Market Ready For A Year-End Rally
Benzinga
Coinbase launches its OTC trading platform and opens the door to institutional investors. The Crypto board adopts an unexpected positive tone that can lengthen in time. The BTC and the ETH seem better positioned than the XRP to capitalize on the rises. The day begins in green in today’s European session. Today, Coinbase announced the launch of its OTC (Over The Counter) trading platform for Cryptocurrencies. The OTC markets are traditionally used by institutional investors to trade without theRead the full story
Forex Nov 29, 2018 09:19 GMTInvesting.com- The dollar steadied on Thursday following a drop in the previous session after dovish comments by Federal Reserve Chairman Jerome Powell, who said interest rates were now close to the “neutral” level. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, edged up 0.12% to 96.78 by04:18 AM GMT(09:18 AM GMT), after falling 0.62% on Wednesday. In a speech on Wednesday, Powell said interest rates were "Read the full story
Dollar set to take cues from speech by Fed’s Powell
MarketWatch
Currency markets are rather calm ahead of a much anticipated speech by Federal Reserve Chairman Jerome Powell later on Wednesday, as investors are waiting for the advent of the next driver for major currencies.Read the full story
Pound to euro exchange rate: Sterling remains weak amid Brexit deal trading uncertainty
Express
THE POUND has failed to make any strong improvements against the euro following the uncertainty surrounding trading after Theresa May’s Brexit deal announcement. The pound is currently trading against the euro at €1.128, a small improvement from yesterday which saw figures of €1.127. A weak UK exchange rate has been caused by the latest Brexit uncertainty, affecting the market.Read the full story
Sale of foreign currency in Angola has new rules
FurtherAfrica
Foreign exchange offices and payment service companies that intermediate cash remittances should, whenever they wish to buy foreign currency, put in a request to the banks with which they have commercial relations, the National Bank of Angola has instructed.Read the full story
UPDATE 1-Egypt to end dollar-guarantee mechanism for foreign investors
Reuters
(Adds analyst and central bank quotes, details throughout)Read the full story
INSURANCE / HEALTH / SCIENCE
Tips for driving down medical bills
CBS News
In our collaboration with Kaiser Health News and NPR, we're taking a look at surprise medical bills that catch many Americans off guard. The latest "Bill of the Month" reveals how costly life-saving drugs can be. Shereese Hickson was bedridden with MS symptoms at one point and was prescribed an infusion called Ocrevus. It costs $65,000 a year. Medicare and Medicaid paid for nearly all of her previous treatments, so Hickson was surprised when she was billed more than $3,600 for the first twoRead the full story
Opinion: John Stossel: Is vaping e-cigarettes really a health crisis?
Fox News
E-cigarettes let people get a hit of nicotine without burning tobacco.Read the full story
Lead, bacteria and other contaminants found in Louisiana town's water
CNN
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FDA approves new option for cancer patients
CNN
Vitrakvi is the first medication developed specifically to target tumors based on gene mutations, not their location in the body.Read the full story
USA / CANADA
Republican leaders seek to calm shutdown worries
The Hill
Senate Republican leaders are telling rank-and-file members that they will avert a partial government shutdown in early December, acknowledging that failing to do so would be a political liability for the GOP.Read the full story
Treasury's Mnuchin asks bond dealers about Fed policy: Bloomberg
Reuters
Treasury Secretary Steven Mnuchin privately asked bond dealers and investors whether they want the Federal Reserve to tighten monetary policy by raising interest rates, or by reducing its balance sheet faster, Bloomberg reported on Wednesday, citing six people familiar with the matter.Read the full story
Trump could seek trade truce with China at G-20 despite tough rhetoric
CNBC
President Trump could push for a compromise on trade with China at this weekend's G-20 summit in Argentina even after his recent tough talk on the matter, The New York Times reports.Read the full story
G20: Are Trump's trade talks dead before they begin?
Asian Correspondent
LEADERS of the G20 countries will meet in Buenos Aires on Friday, but all eyes will be trained on US President Donald Trump and his Chinese counterpart Xi Jinping as they have their first face-to-face meeting since the escalating trade war began at the start of the year. While hopes had been high the two could succeed where their delegations have failed, it now looks like the chances of reaching a resolution may be over before they even began. In an interview with the Wall Street Journal onRead the full story
After 'inadequate' briefing on Saudi Arabia, Senate advances bill to end U.S. war support
NBC News
The measure passed 63-37, a strong rebuke to President Trump and a reversal for the Senate who rejected the same measure nine months ago.Read the full story
Tensions over Trump and Khashoggi erupt in the Senate
POLITICO
“I do believe I’ve read every piece of intelligence," Pompeo said.Read the full story
EMERGING MARKETS
Venezuela à la carte: Government services for sale
Fox News
Inflation in the socialist country has risen more than 833,000 percent over the past year.Read the full story
Morgan Stanley and Goldman Sachs say Hong Kong stocks to rise in 2019
South China Morning Post
Morgan Stanley forecasts an 8 per cent rise of the Hang Seng Index, while Goldman Sachs predicts a 6 per cent gain of the MSCI Hong Kong IndexRead the full story
Morgan Stanley and Goldman Sachs say Hong Kong stocks to rise in 2019
South China Morning Post
Morgan Stanley forecasts an 8 per cent rise of the Hang Seng Index, while Goldman Sachs predicts a 6 per cent gain of the MSCI Hong Kong IndexRead the full story
Emerging Market on a Rebound? 5 ETFs Seeing Big Inflows
Zacks Investment Research
Emerging market ETFs attracted $1.28 billion for the week ended Nov 23, marking the sixth consecutive week of inflows.Read the full story
MIDDLE EAST
Israel to invest billions to get rail and roads up to speed
Reuters
Israel is unrolling a major pipeline of investments to get rid of persistent traffic jams that are hampering economic growth. To unclog the developed world's most congested roads, the government will partner with private contractors and banks, both Israeli and foreign, marking a shift in policy after a series of transport projects were criticized for delays and mismanagement.Read the full story
Falih says Saudi Arabia won't cut oil output alone
Reuters
Saudi Energy Minister Khalidal-Falih said on Wednesday his country would not cut oil outputon its own to stabilise the market, as OPEC peer Nigeria said itwas too early to signal whether it would take part in anydecision to reduce production.Read the full story
Saudi Arabia close to clinching $15 billion deal to buy THAAD missile system
CNBC
Saudi Arabia has signed a letter of offer and acceptance with the United States for Lockheed Martin's THAAD missile system.Read the full story
MBS arrives in Argentina in the face of G20: Will he be a pariah?
Aljazeera
Saudi Arabia's Crown Prince Mohammed bin Salman has arrived in Buenos Aires in the run-up to the G20 summit, a visit fraught with controversy over the killing of Saudi journalist Jamal Khashoggi. Human Rights Watch asked Argentina on Monday to use the war crimes clause in its constitution to investigate any involvement by the crown prince in possible crimes against humanity in Yemen and Khashoggi's murder. The killing of Khashoggi, a Washington Post columnist and a critic of the crown prince, atRead the full story
Kenya Pipeline Keeps Oil Marketers in Dark Over Loss of 23 Million Litres of Fuel
AllAfrica
Oil marketers will have to wait much longer to know how their 23 million litres went missing after Kenya Pipeline Company board failed to marshal a quorum to discuss the matter. The special board meeting, called by KPC chairman John Ngumi, and which was to discuss the fuel loss scam, flopped after three members gave it a wide berth, albeit with reasons. The three were lawyer Jinaro Kibet, the Treasury representative Eric Korir and businesswoman Felicity Biriri. Although KPC ought to have a fullRead the full story
Zimbabwe: Mutare traders opt for Mozambican currency; shun Bond Notes – report
FurtherAfrica
Locals importing second-hand merchandise and basic commodities from neighbouring Mozambique are now rejecting payment in Bond Notes, demanding instead the Mozambican Metical or the US dollar.Read the full story
Zimbabweans protest 'cocktail of lies' amid economic decline
ABC News
Citizens in the African nation say they've seen no progress on job creation.Read the full story
Africa: Over Half of the World's Tropical Forests Have Been Destroyed, Say Conservationists
AllAfrica
Sharm El Sheikh, Egypt Biodiversity conservationists have revealed that at least 10 more percent of land than what is currently being used to grow green crops will be required to successfully replace fossil fuels with alternatives derived from natural sources such as biofuel. Speaking to government ministers and other high level representatives at the ongoing Biodiversity Conference in Egypt, Anne Larigauderie, executive secretary of the Intergovernmental Platform on Biodiversity and EcosystemRead the full story
Southern Africa: Millions Face Food Crisis in Southern Africa
AllAfrica
Harare More than 9,6 million people are food insecure in the Southern African region following droughts mostly in Malawi and Zimbabwe. The situation is dire amid at least an 80 percent chance of an El Niño phenomenon until December 2018, which coincides with the lean season in the region. According to the United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA), Malawi now has an estimated 3,3 million people in crisis or emergency. Zimbabwe has nearly 2,4 million people facingRead the full story
ASIA
China sets about putting house in order, steps up supervision of financial institutions seen as too big to fail
South China Morning Post
Financial regulators issue guidelines for ‘systemically important’ institutions Improved supervision comes in response to current downward pressures on economyRead the full story
What will China offer the United States to break the trade war deadlock?
South China Morning Post
Beijing needs economic stability offshore to be able to tackle problems at home, source saysRead the full story
South Korean ports deal with North ‘could be step towards broader cooperation’ involving China
South China Morning Post
Incheon and Nampo at heart of commercial and passenger sea traffic proposal as UN dials down sanctions on Pyongyang to encourage trade ties between KoreasRead the full story
How China became a global superpower — and America’s biggest rival
The New York Times
The West was sure the Chinese approach would not work. It just had to wait. It’s still waiting.Read the full story
Vietnam Nov trade deficit seen at $400 mln - govt
Reuters
Vietnam trade data, as released by thegovernment's General Statistics Office on Thursday: KEY DATA Monthly trade, in billions of dollars 2018 *Nov **Oct Sept Aug July June May April March Feb EXP21.6 22.5321.12 23.4820.32 19.85 19.9518.4 21.1314.33 IMP 22.0 21.76 19.51 21.28 20.955 19.05 20.77 17.2 18.88 14.03 BAL -0.4 0.77 1.61 2.2 -0.635 0.8 -0.821.2 2.260.3 NOTE: * Updated, ** Adjusted Trade surplus for the January-November period was estimated at $6.8 billion,the government statisticsRead the full story
Vietnam Jan-Nov coffee exports seen up 23 pct y/y; rice to rise 4.8 pct y/y
Reuters
Vietnam's coffee export volumesfor the January-November period are expected to have grown 23percent from the same period a year ago, while rice exports areestimated to have risen 4.8 percent in the same period,government data showed on Thursday.Read the full story
EUROPE
Brexit Negotiations: How Will the Market Respond?
TheStreet
The potential for 'no deal' still exists, and it could have global economic implications. We're in the midst of one of the most chaotic times in British politics in decades. After more than a year of negotiations Theresa May hammered out a tentative EU deal and her cabinet approved it. Some of her ministers, however, resigned in protest. On Nov. 25, EU members signed off on the deal, which now awaits approval from British Parliament. The outstanding issues include: Immigration, the Irish border,Read the full story
EU banks cut risks as ministers weigh start of guarantee scheme
Reuters
European Union banks have cutbad loans and raised provisions, the European Commission said onWednesday, before EU finance ministers decide next week when tointroduce an EU deposit guarantee scheme that hinges on lowerrisk in banks.Read the full story
The UK government says its Brexit deal will hurt the economy
CNN Business
It's official: The British government's plan for leaving the European Union will be bad for the economy.Read the full story
EU sees no progress yet on recognizing Swiss stock exchanges
Reuters
Talks between the European Union and Switzerland have not made enough progress to extend EU recognition of Swiss stock-exchange regulations beyond this year, European Commission Vice President Valdis Dombrovskis said in a letter.Read the full story
The Economic Impact Of Brexit And What It Means For Financial Stability
Forbes
The question of whether Brexit will hurt the economy has been answered, but it remains to be seen just how painful the UK's departure from the EU will be.Read the full story
REFILE-France, Germany taking charge of EU-Iran trade move but oil sales in doubt
11-30-2018 Intel Guru RayRen98 Rates were fluctuating today...was informed that they were testing the system. Hmmmmm? Time Will Tell All! A GOOD SOURCE SAYS, "INVITATIONAL EXCHANGES" ARE STARTING TO TAKE PLACE...TIME WILL TELL.
11-29-2018 Newshound Guru MilitiaManArticle: "260+ attend IBBC Iraq Reconstruction Conference" Quote: "IBBC welcomed 260+ delegates to Dubai to discuss ‘Iraq – Reconstruction & Rebuilding, how to deliver Vision’ with expert Industry, Government and International Organisations on 25th November" ...This is all about past tense as it is over now, as it is what was talked about, what was accomplished and with HUGE names involved..This just shows go time is upon us.imo.
11-29-2018 Newshound Guru Mnt GoatIs the Iraqi currency International? ...let me debunk this rumor once again about any VISA or MASTERCARD going international and issued from an Iraqi bank. First, I will once again define what it means for a currency to be international: 1) for the IMF must recognize the currency under Article 8 of the UN member charter; 2) the currency MUST be tradable throughout the world not just in one area of the globe; 3)the currency, because it is recognized and traded around the globe, it is listed on the currency exchanges, where it is freely traded.Does it meet all of these conditions?Of course not...So these Iraqi cards are NOT yet really international yet. At least not yet. But they do have this capability for the future. 11-29-2018 Newshound Guru Kaperoni [...they have already reduced the money supply.] ...Wrong! This has not happened. If it did the auctions would be out of balance. As said last week from the CBI over 40 trillion is outside of the banks. Only when the dinar begins to rise gradually can the money supply be reduced...
11-29-2018 Intel Guru Footforward [...Is the RV EVER going to happen...?] Yes the RV is going to happen. Watch Iran. Iran is tied to a lot more then people think.
11-29-2018 Newshound Guru MilitiaMan Article: "The future of the Iraqi currency!" Quote: "It is possible that the value of the Iraqi currency against the US dollar, for example, that the employee who receives 1200 thousand dinars at the exchange rate 1200, the purchasing power of $ 1000 dollars and if the strengthening of the dinar equivalent to 500 dinars to the dollar will be purchasing power $ 2400 instead of $ 1000." What a GEM this is...All those relationships about the FILS make me smile! Stock Exchange = Fils, Receipt with Fils, CBI = Fils and now this! No denial!
11-29-2018 Newshound/Intel Guru Mnt GoatSo I would not use this “alleged” past corruption at the CBI for any reason to hold up the reinstatement now. This is moving forward. From all my findings the hold up, if any, would be procedure and executing the mechanisms needed to bring this about.If I were you, I would watch for late December or early January for a reinstatement to occur. Again we are fast approaching that window.Remember in ALL the past recorded, legitimate, possible times to complete the project to delete the zeros and then lead to a reinstatement, it was for the late Dec and early Jan timeframes...The Iraqi fiscal financial year begins Jan 1st... [post 2 of 2]
11-29-2018 Newshound/Intel Guru Mnt GoatThe news media is really playing up the water damage the lot of those dinars from the incident at the Rafidian bank in 2013. Now they want to extend this out to all the dinars stolen by the Nori al-Maliki administration and blame it on a coordinated criminal activity between the CBI governor and Maliki.There is one flaw with these articles. Ali Mohsen Al-Allaq did not take over the CBI until sometime in 2014....So why are they blaming Allaq for any corruption in 2013 or before?I happen to personally know a few people who can attest to Ali Mohsen Al-Allaq’s integrity and ...He is one of the most honest men I know and is a perfect fit for the position he is in at the CBI, with some help from Dr Shabibi to mentor him...He is an obstacle to the corruption and like Shababi they want to bring him down.[post 1 of 2....stay tuned]
Elmer:
Not in today
Artmeister:
Not in today
Catnip:
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ARTICLE 1-A (from PM Mahdi's website; posted only on Arabic side, not on English side)
Prime Minister Adel Abdul Mahdi receives the Special Advisor to the Secretary-General of the United Nations and the Head of the Investigative Commission on Crimes
Prime Minister Adel Abdul Mahdi received on Thursday the special advisor to the Secretary-General of the United Nations, Mr. Karim Khan, and his accompanying delegation.
During the meeting, they discussed the international community's support for Iraq in the field of reconstruction, the pursuit of terrorist cells and the strengthening of Iraq's role in the region and the world after it has succeeded in defeating gangs that called for terrorism and contributed greatly to reducing the danger of international peace.
He stressed that Iraq has made great sacrifices in its war against terrorism and that many elements of the terrorist group are carrying foreign nationalities, which requires the international community and these countries to shoulder their responsibilities towards Iraq and the Iraqis who fought on behalf of the world and support Iraq in pursuing these terrorist cells. And their components.
Media Office of the Prime Minister
29-Nov-2018
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ARTICLE 1-B (from PM Mahdi's website; posted only on Arabic side, not on English side)
Prime Minister Mr. Adel Abdul Mahdi receives the Vice President of the World Bank Group for the Middle East and North Africa
Prime Minister Adel Abdul Mahdi received on Thursday the Vice President of the World Bank Group for the Middle East and North Africa and his accompanying delegation.
Mr. Adel Abdul-Mahdi stressed that Iraq focuses on investment and provide an environment suitable for him, which will contribute positively to the reconstruction of the country and provide services to citizens, indicating that the dependence should be on productive loans that promote the economy and production and employment and not consumer loans that weigh the budget.
The delegation stressed the continuation of the World Bank to support Iraq and cooperate in productive projects and simplify procedures and help young people to establish and register projects and develop their capabilities in the success.
Media Office of the Prime Minister
29-Nov-2018
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ARTICLE 1-C (from PM Mahdi's website; posted only on Arabic side, not on English side)
Prime Minister Adel Abdul Mahdi receives the European Union's Counter-Terrorism Coordinator
Prime Minister Adel Abdul-Mahdi received on Thursday the European Union's counterterrorism coordinator, Gili de Kerkov, and his accompanying delegation.
Mr. Kerchov stressed the European Union's support for Iraq and its government in pursuing terrorist cells and in other military and security fields.
The Prime Minister pointed out that the crimes of the gangs are calling for cross-border terrorism and that Iraq has provided a large number of victims who deserve to provide great support to them and their families, stressing that the international community and the European Union to strengthen support for Iraq during the next stage.
Media Office of the Prime Minister
29-Nov-2018
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ARTICLE 1-D (from PM Mahdi's website; posted only on Arabic side, not on English side)
Prime Minister Adel Abdul Mahdi Receives His Eminence Cardinal Mar Luis Rufael I Sacco, Patriarch of Babylon, Chaldean in Iraq and the World
Prime Minister Adel Abdul-Mahdi on Thursday received Cardinal Maris Louis Raphael I, the Babylonian Chaldean Patriarch of Iraq and the world, and his accompanying delegation from the Council of the Catholic Patriarchs of the East.
During the meeting, they discussed the general situation in the country, the peaceful coexistence between the people of the country and the protection of the rights of all citizens, including Christians, and helping to stabilize them and the return of those displaced.
At the beginning of the meeting, the delegation congratulated Mr. Adel Abdul Mahdi on the formation of the government, stressing their full support for the government and for the person of the Prime Minister to lead the country and achieve prosperity for its children.
The Prime Minister welcomed the guest delegation, stressing that Christians are a component and an authentic identity in Iraqi society and work together to promote the concept of citizenship.
He added that recognizing the other is one of the basic principles of the definition of society and that what we are doing is a duty, not an opportunity and an open door to hear all that they ask.
Media Office of the Prime Minister
29-Nov-2018
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ARTICLE 1-E (from PM Mahdi's website; posted only on Arabic side, not on English side)
Prime Minister and Commander-in-Chief of the Armed Forces, Mr. Adel Abdul-Mahdi, at the dawn of the day on the measures taken to open the Green Zone
4 pictures....no article
Media Office of the Prime Minister
29-Nov-2018
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ARTICLE 2
President of the Republic stresses the importance of achieving financial, monetary and economic stability in Iraq
29 November: President Barham Salih received at the Peace Palace in Baghdad on Thursday afternoon World Bank Vice President for the Middle East and North Africa Farid Belhadj, accompanied by the Regional Director of the World Bank for Central Asia, Saroj Kumar Jha.
"The achievement of financial, monetary and economic stability in Iraq is not only a goal but also a basis for political stability and an important strategic project for sustainable development and civil development in the country.
For his part, the World Bank Vice President for the Middle East and North Africa, said that "the World Bank is determined to support the Iraqi economy positively and work to support partnership with Iraqi financial institutions by increasing areas of cooperation and the adoption of better investment resources and energies." Finished
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ARTICLE 3-A
Saleh Al-Maliki: The need to choose the best names for the cabinet
2018/11/29 22:11
[Ayna-Baghdad]
President of the Republic Barham Salih in Baghdad on Thursday evening with the head of a coalition of state law Nuri Kamal al-Maliki, the latest developments on the political and security levels in the country.
Saleh said during the meeting "the importance of completing the ministerial cabin and work seriously to meet the rights and aspirations of all citizens to stability and progress and a decent life."
He stressed "the need to reach a remarkable stage of political harmony between the blocks, to choose the best names for the implementation of the government program."
For his part, Maliki pointed to the need for cooperation and coordination between the new parliamentary blocs, and move forward to strengthen the democratic system and provide what is best for the Iraqi citizen during the next phase.
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ARTICLE 3-B
Saleh and Maliki discuss the latest political and security developments in Iraq
BAGHDAD, April 30 (Xinhua) - President Barham Salih of Baghdad on Thursday evening discussed with President of the coalition of state law, Kamal al-Maliki, the latest developments on the political and security levels in the country.
Saleh explained the importance of completing the cabinet cabin and working seriously to meet the rights and aspirations of all citizens to stability, progress and decent life. Stressing the "need to reach a remarkable stage of political harmony between the blocks, to choose the best names for the implementation of the government program."
For his part, Maliki to "the need for cooperation and coordination between the new parliamentary blocs, and move forward to strengthen the democratic system and provide what is best for the Iraqi citizen during the next phase." End Ah
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ARTICLE 4
Decision: The problem in the choice of the Minister of the Interior, the defense and all those who claim its portfolio are ineffective
BAGHDAD, Nov 30 (Reuters) - The leader of the ruling coalition, Ethel al-Nujaifi, revealed that the problem lies with the Interior Ministry's portfolio, while the Defense Ministry claimants are "not influential."
Nujaifi said that "Abdul-Mahdi in the end will be forced to declare the remaining of his ministries vacant by relying on one party of the existing parties because the political issues between the entities tend to be the new formation, in the absence of political consensus is clear," adding that the problem now lies in The choice of the candidate of the Ministry of the Interior, not the defense, as we are used in the political process, not to name the Minister of Defense unless the internal file is resolved, either the claimants of the defense portfolio are not influential on the Iraqi political decision and Abdul Mahdi easily choose the Minister of Defense contrary to the choice of the Minister of Interior. Finished
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ARTICLE 5
Work The social protection departments in Baghdad and the governorates are constantly working on public holidays
BAGHDAD, Nov 30 (KUNA) - The head of the Social Protection Agency, Bassem Abdul-Zaman, called on social protection departments in Baghdad and the provinces to continue their work on Friday and public holidays, the Ministry of Labor and Social Affairs announced on Friday.
He added that "the aim of continuing work days of collection and holidays comes to receive families benefiting from the subsidy salary within the new meal in order to check the transactions to issue smart card in preparation for the launch of salaries." End Ah
(One pix, plus 3 blank photo templates accompanied this article.)
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