WOTS Thursday 6/6/19
Forex Rates:
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD | | | 1185.9000 | 1185.0000 | 1185.9000 | | 09:40 |
| USD/VND | | | 23379.1000 | 23362.5000 | 23362.5000 | | 06:06 |
| USD/CNY | | | 6.9136 | 6.9038 | 6.9072 | | 09:53 |
| USD/KWD | | | 0.3038 | 0.3031 | 0.3037 | | 09:56 |
| GBP/USD | | | 1.2743 | 1.2688 | 1.2688 | | 10:01 |
| USD/IRR | | | 42000.0000 | 42000.0000 | 42000.0000 | | 09:40 |
| USD/IDR | | | 14279.0000 | 14160.0000 | 14278.0000 | | 10:01 |
CNBC Link:
CNBC Morning Squawk Link:
No link yet
DC NY Iraq Articles:dd
Kauaihn Iraq Articles:dd
To activate the initiative of the President of the Republic and on the occasion of the celebration of the Eid al-Fitr .. The release of 139 of the Garmat and Garmin
06/06/2019
Independent - Cairo - Walid Ramali
In continuation of the efforts exerted to activate the initiative of President Abdel Fattah El Sisi, President of the Republic (prisons without Garmin or Garmat) and in accordance with the instructions of Mr. Mahmoud Tawfiq, Minister of the Interior, to take all legal and executive measures for the release of the Garmin and Garmat.
The efforts resulted in the release of (139) prison inmates (126 men and 13 women) after payment of their debts with funding from the Fund of Life in Egypt on the occasion of Eid al-Fitr.
On the other hand, and in implementation of the decision of the President of the Republic No. (269/2019) concerning the amnesty for the rest of the sentence for some of the sentenced, an amnesty was granted to 1595 inmates and 268 inmates were released under condition. Beneficiaries of the amnesty and release under condition and the Garmin and Garmat number (2002) guest and Nazila .. on the occasion of the celebration of Eid al-Fitr.
This comes within the framework of the Ministry of the Interior's keenness to implement punitive policy in its modern sense and provide different aspects of care for guests and activate the methods of releasing convicts who have been rehabilitated to engage in society.
The efforts resulted in the release of (139) prison inmates (126 men and 13 women) after payment of their debts with funding from the Fund of Life in Egypt on the occasion of Eid al-Fitr.
On the other hand, and in implementation of the decision of the President of the Republic No. (269/2019) concerning the amnesty for the rest of the sentence for some of the sentenced, an amnesty was granted to 1595 inmates and 268 inmates were released under condition. Beneficiaries of the amnesty and release under condition and the Garmin and Garmat number (2002) guest and Nazila .. on the occasion of the celebration of Eid al-Fitr.
This comes within the framework of the Ministry of the Interior's keenness to implement punitive policy in its modern sense and provide different aspects of care for guests and activate the methods of releasing convicts who have been rehabilitated to engage in society.
Patriotic Union of Kurdistan holds an important meeting in the presence of Barham Saleh
Editorial date: 2019/6/6 11:14 • 154 times read
(Baghdad: Al Furat News) The Political Bureau of the Patriotic Union of Kurdistan held an important meeting, on Thursday, to discuss several issues related to the Kurdistan region and Iraq.
The website of the Union said the source said that the meeting will be held under the supervision of Kosrat Rasul Ali Deputy Secretary-General of the National Union, to discuss the latest steps on the formation of the new cab of the provincial government and the situation of disputed areas and relations between the Kurdistan region and Iraq.
Barham Saleh, second deputy secretary-general of the National Union, now in Sulaymaniyah, is expected to take part in the meeting of the Political Bureau today
Barham Saleh, second deputy secretary-general of the National Union, now in Sulaymaniyah, is expected to take part in the meeting of the Political Bureau today
Governor Muthanna calls on the federal government not to deal with its people as citizens of the "tenth degree"
06/06/2019 12:41 AM |
Al Ahd News - Al Muthanna
Al-Muthanna governor Ahmed Menfi on Wednesday night called on the federal government to maintain its national share of electricity and not to deal with its citizens as tenth-class citizens.
The governor stressed that there is an excess of the share of the province of electricity and not deal with it equitably, whether on the southern or central region, noting that the local government will take the necessary legal measures to obtain their rights from the ministry. If he finds no response to Muthanna's demands over the next few days, he will take further steps to secure the rights of the province, he said.
The Arab and Islamic world will celebrate Eid al-Fitr on Tuesday and the poor people of my people will say, "Why have you gone back?" Fifteen years of terrorism, daily killing and corruption like no other country in the world. Only some of our politicians have heard the promises and promises of justice, equality and equity among the people of Iraq. , To achieve prosperity and increase the per capita income, and to eliminate corruption, unemployment, poverty and housing complexes for the poor, which are only sedatives and anesthesia doses do not respond to the appeals of the poor and orphans and widows and the disabled and retirees looking for cash money to fill their hunger, Reports of the Iraqi Ministry of Planning indicate that 30% of the total population of Iraq is below the poverty line, and the reports of the competent international organizations indicate a higher percentage of that. , And the growing population growth and the number of colleges that have become more than 250 colleges across Iraq between the civil and governmental leave each year hundreds of thousands of unemployed graduates to important disciplines, leaving schools from primary to college and increasing illiteracy is increasing, hundreds of thousands of placenta And Lin social protection system is not enough to pay meager living one week and the other three weeks begging the streets .. We wonder and the question of health where billions went? Who are the corrupt? What are the large projects that have been spent on billions in the last 15 years? , Iraqis are no longer buying new clothes for their children at Eid. Iraqis have returned to lean years to buy old clothes from bales for the joy of the Eid, and the poor live in miserable, random compounds, while the others live among the rubble and garbage. Eid is coming, so how can the government, Parliament and officials enter the homes of the poor and the needy.
Eid and the poor title
06/06/2019 01:42 AM | Number of readings: 1
Ahmed Shaker Hilfi
The Arab and Islamic world will celebrate Eid al-Fitr on Tuesday and the poor people of my people will say, "Why have you gone back?" Fifteen years of terrorism, daily killing and corruption like no other country in the world. Only some of our politicians have heard the promises and promises of justice, equality and equity among the people of Iraq. , To achieve prosperity and increase the per capita income, and to eliminate corruption, unemployment, poverty and housing complexes for the poor, which are only sedatives and anesthesia doses do not respond to the appeals of the poor and orphans and widows and the disabled and retirees looking for cash money to fill their hunger, Reports of the Iraqi Ministry of Planning indicate that 30% of the total population of Iraq is below the poverty line, and the reports of the competent international organizations indicate a higher percentage of that. , And the growing population growth and the number of colleges that have become more than 250 colleges across Iraq between the civil and governmental leave each year hundreds of thousands of unemployed graduates to important disciplines, leaving schools from primary to college and increasing illiteracy is increasing, hundreds of thousands of placenta And Lin social protection system is not enough to pay meager living one week and the other three weeks begging the streets .. We wonder and the question of health where billions went? Who are the corrupt? What are the large projects that have been spent on billions in the last 15 years? , Iraqis are no longer buying new clothes for their children at Eid. Iraqis have returned to lean years to buy old clothes from bales for the joy of the Eid, and the poor live in miserable, random compounds, while the others live among the rubble and garbage. Eid is coming, so how can the government, Parliament and officials enter the homes of the poor and the needy.
Oil surges ahead of faltering global economy
Editorial date: 2019/6/6 11:00 • 149 times scheduled
International oil prices rose on Thursday after falling to a five-month low in the previous session, but sentiment remains weak as markets continue to be under pressure from rising US supplies and the global economy faltering.
Brent crude for the month was $ 60.79 a barrel, up 16 cents or 0.3 percent from the previous session's closing price.
US WTI crude futures were $ 51.84 a barrel, up 16 cents, or 0.3 percent, from the previous settlement price.
Brent and US crude hit their lowest level since mid-January on Wednesday, at $ 59.45 and $ 50.60 a barrel respectively, amid rising crude stocks and record production in the United States, and energy demand began to hit the global economic slowdown.
US crude oil output rose to a record 12.4 million bpd in the week ending May 31, the Energy Information Administration said yesterday, adding 1.63 million bpd since May 2018.
US crude oil inventories jumped 6.8 million barrels in the week ending May 31 to 483.26 million barrels, their highest level since July 2017.
With supplies plentiful despite Opec-led production cuts, demand is largely dependent on demand. Bank of America Merrill Lynch said this week that "global oil demand growth is at its weakest since 2012", below 1 million barrels a day, and that "leads to a decline" in recent oil prices.
US WTI crude futures were $ 51.84 a barrel, up 16 cents, or 0.3 percent, from the previous settlement price.
Brent and US crude hit their lowest level since mid-January on Wednesday, at $ 59.45 and $ 50.60 a barrel respectively, amid rising crude stocks and record production in the United States, and energy demand began to hit the global economic slowdown.
US crude oil output rose to a record 12.4 million bpd in the week ending May 31, the Energy Information Administration said yesterday, adding 1.63 million bpd since May 2018.
US crude oil inventories jumped 6.8 million barrels in the week ending May 31 to 483.26 million barrels, their highest level since July 2017.
With supplies plentiful despite Opec-led production cuts, demand is largely dependent on demand. Bank of America Merrill Lynch said this week that "global oil demand growth is at its weakest since 2012", below 1 million barrels a day, and that "leads to a decline" in recent oil prices.
Russia: Launch of the Davos Economic Forum
10:39 - 06/06/2019
Information / Baghdad ..
The activities of the Petersburg International Economic Forum "Development of the Sustainable Development Agenda", with the participation of representatives from 140 countries and an effective Arab presence, were launched in Russia on Thursday.
The forum, which will last until Saturday, will be attended by managers of major Russian and foreign companies as well as politicians, prime ministers and ministers.
The Petersburg Economic Forum is called the Davos Russian Forum, given its size and level of participants, and is expected to attract more than 12,000 participants from 140 countries.
The forum is a platform to attract foreign investment to the Russian economy, with more than 90 activities and a forum for small and medium-sized businesses.
This year, Qatar is represented by a high delegation headed by its Deputy Prime Minister and Minister of Foreign Affairs, Mohammed bin Abdul Rahman Al Thani. The Saudi delegation is headed by Saudi Energy Minister Khaled Al-Falih, whose participation is of great importance since the two countries cooperate closely in the oil market. Producing oil within the framework of the agreement to cut production "OPEC"
New information concerning the standardization of salaries of state employees
Revision date: 2019/6/6 10:44 • 610 times read
(Baghdad: al-Furat News) MP from the coalition of state law Mansour al-Baiji, new information on the subject of unifying the salary ladder of state employees.
Al-Bayji said in a statement, received a copy of the "Euphrates News", on "a unified parliamentary approach to unify the salary scale of all state employees, taking into account the school certificate for the fairness of all employees."
He pointed out that "there is a large disparity between salaries of state employees varies from one ministry to another," explaining that "there are high salaries offset by very few salaries from one ministry to another," returned him "a great injustice."
Al-Baiji said that "all employees of the state equal rights and duties; therefore, should be fair salaries of employees," noting that "it is unreasonable to get some ministries salaries very high and offset and other simple salaries do not exceed 300 thousand dinars."
He pointed out that "the arrival of appeals and many demands by the oppressed segment of the state employees are unjustly suffering in the salary scale. So we will work hard to approve the new salary scale in order to provide justice to all and lift injustice and injustice from all employees of the state."
The MP for the bloc of wisdom Hassan Khalati, revealed {for the Euphrates News} about directing a letter to Prime Minister Adel Abdul-Mahdi; to consolidate the salary scale and there is a preliminary response to the resolution, stressing the need for a unified salary ladder that everyone feels justice.
He pointed out that "there is a large disparity between salaries of state employees varies from one ministry to another," explaining that "there are high salaries offset by very few salaries from one ministry to another," returned him "a great injustice."
Al-Baiji said that "all employees of the state equal rights and duties; therefore, should be fair salaries of employees," noting that "it is unreasonable to get some ministries salaries very high and offset and other simple salaries do not exceed 300 thousand dinars."
He pointed out that "the arrival of appeals and many demands by the oppressed segment of the state employees are unjustly suffering in the salary scale. So we will work hard to approve the new salary scale in order to provide justice to all and lift injustice and injustice from all employees of the state."
The MP for the bloc of wisdom Hassan Khalati, revealed {for the Euphrates News} about directing a letter to Prime Minister Adel Abdul-Mahdi; to consolidate the salary scale and there is a preliminary response to the resolution, stressing the need for a unified salary ladder that everyone feels justice.
Iraq condemns terrorist attack on Egyptian security forces and stresses its rejection of terrorism
Date of release: 2019/6/6 8:59 • 220 times read
(Baghdad: Al Furat News) The Ministry of Foreign Affairs condemned the terrorist incident, which was witnessed by Egyptian soldiers in the Egyptian city of Arish, killing a number of members of the security forces.
"Iraq has stressed its position on rejecting terrorism in all its forms and manifestations, declares its stand with the international community in the face of terrorism and supports all good efforts aimed at eliminating extremism and violence," Foreign Ministry spokesman Ahmad al-Sahaf said in a statement.
"We renew our condemnation and condemnation of this incident, and we support the efforts of the Egyptian government in its actions to preserve the country's security and stability," he added. "We pray to God to heal the martyrs with mercy.
The Egyptian Interior Ministry announced on Wednesday that five "terrorists" were killed during the security forces' attack on Al-Arish, and that a number of security forces were killed during the clashes.e
"We renew our condemnation and condemnation of this incident, and we support the efforts of the Egyptian government in its actions to preserve the country's security and stability," he added. "We pray to God to heal the martyrs with mercy.
The Egyptian Interior Ministry announced on Wednesday that five "terrorists" were killed during the security forces' attack on Al-Arish, and that a number of security forces were killed during the clashes.e
Iraq electricity minister: US will continue exemptions for Iranian electricity imports
Iraqi Minister of Electricity Luay al-Khatteeb told Al-Monitor that US exemptions in the energy sector will continue amid tensions in US-Iran relations.
Iraqi Ministry of Electricity
Minister of Electricity Luay al-Khatteeb (C) holds a meeting in Baghdad, Iraq, May 15, 2019.
In an exclusive interview with Al-Monitor, Iraqi Minister of Electricity Luay al-Khatteeb talked about the situation of Iraq’s electricity sector amid tense US-Iran relations. He discussed the waiver timeline that Washington granted Baghdad to keep buying Iranian gas and mentioned his fear that some parties are politicizing the electricity sector in Iraq.
Iraqi Prime Minister Adel Abdul Mahdi’s government voted Oct. 25, 2018 to appoint Khatteeb as minister of electricity. Before he was tasked with the ministry, Khatteeb was director of the Iraq Energy Institute and worked as an engineer for several international companies such as British Gas, the Dutch Shell Company and the Indonesian National Oil Company.
Al-Monitor: Does Iraq have any concerns in the electricity sector due to US-Iranian tensions?
Khatteeb: We have taken our precautions, specifically in summer, by putting more optimistic productivity plans, compared to 2018. We increased production for May by around 3,500 megawatts compared to electricity production levels in 2018.
The challenges of the political conflict in the region exist, but through our understandings with the United States, we explained that Iraq should not be involved in regional or international disputes. Our need to import electricity temporarily from Iran might not exceed six months or a bit more, but our need for gas will last for about two to three years until the situation of Iraqi gas improves.
Al-Monitor: What are your concerns and plans if Washington refuses to give Baghdad new exemptions for gas imports from Tehran?
Khatteeb: We have electricity and gas exemptions from the United States. They know and understand our gas needs. Neither the international community nor the United States would benefit from putting spokes in the wheels for Iraq. We have our priorities, and we have been strong US allies in the war against terrorism. We were victorious but paid the price humanitarianly and economically. The exemptions are divided into time periods and are extendable. I believe they will continue because Iraq’s situation is different from that of our countries, and we do not have an alternative.
Al-Monitor: Is there another country you can import from? Some information indicated that Iran is selling you gas at high prices.
Khatteeb: We are open to finding the best deals. We do not want to be a party to the conflict, and we do not want to favor one side over another. We have strategic relations with all neighboring countries and the United States. We do not want to incite any country against the other. We told neighboring countries that we are open to electricity and gas deals. Some offers were put forward, but they were nowhere near Iranian gas.
When we talk about offers, we mean gas and electricity together. We currently import 1,100 megawatts of electricity from Iran, and we import gas for producing 2,800 megawatts of electricity. The whole amount reaches up to 4,000 megawatts. We have not found better offers in terms of quantity, speed and price. Besides, we would need infrastructure to connect us to other countries. Our only option currently is Iran.
Al-Monitor: Do you think Iraqis will take to the streets in summer because of electricity?
Khatteeb: Our past steps have created more energy and have placed us in a better position. Although the situation is not ideal, it is better. To reach radical solutions, major agreements are needed. We hope people will understand that we signed agreements with Siemens and that our contracts with General Electric are ongoing. The radical changes will happen in 2020 because the production capacity and major transportation projects will become operational in the last quarter of 2019, reaching mid-2020.
Al-Monitor: Were you forced into a partnership with both Siemens and General Electric? And are the companies’ contracts part of the international distribution of shares in Iraq?
Khatteeb: The previous administration of the Ministry of Electricity signed two maps to boost the electricity sector, the first being the Siemens roadmap and the second the General Electric roadmap. Both are not binding. We reviewed and outlined the work of these companies, and we prepared an Iraqi roadmap rather than a company roadmap.
The agreement with Siemens was worth 1.7 million euros. With General Electric, we have not signed anything yet regarding the roadmap. But there were development and installation contracts worth 1.5 million euros signed in the past six months. Regarding the roadmap, there has been nothing so far. The timeline of the map is four years and it began May 1. It will be divided over three phases. The competition between Siemens and General Electric should be positive and healthy, and it should serve the reconstruction of Iraq — specifically the power issue.
Al-Monitor: Are there any indications to your claim that the electricity sector is politicized?
Khatteeb: Everything in Iraq is politicized. My hope is that it will no longer be so. At the Ministry of Electricity, we advise all parties interested in Iraqi affairs not to use an imposing tone. We are an independent state, and we have our entity. Iraq is stronger than it was in 2003. Such demands can be asked of a weak state, but not Iraq. Some embassies want to promote their companies; we welcome this idea, but we refuse pressure.
Al-Monitor: What is the situation of Iranian companies that have contracts with Iraq amid US sanctions?
Khatteeb: Everything is working normally. Those companies are limited in number; we pay them in Iraqi dinars with simple contracting operations.
Al-Monitor: Will you announce the privatization of electricity, or did this experience fail?
Khatteeb: Relying on the role of the government in everything has dangerous repercussions and would lead to failure. We are no longer a socialist country. We rely on the market economy and on creating job opportunities. We want to ensure a promising and attractive environment for hard currency to create a strong local private sector. We are examining the possibility of involving the private sector in investing in production and distribution but under strict international conditions that would aid the state treasury with revenue.
Al-Monitor: Did Saudi Arabia propose to sell electricity and gas for a lower cost than Iran?
Khatteeb: Saudi Arabia has shown cooperation with Iraq. But we did not receive any offers related to buying electricity. The agreement with Saudi Arabia is related to Saudi companies investing in the energy sector in Iraq. There is positive cooperation with Saudi Arabia, and in the next phase, Gulf companies will invest in the Iraqi energy sector.
Al-Monitor: Are you worried about being a victim if protests against the electricity situation are staged and you are dismissed?
Khatteeb: Protesting is a legitimate, constitutional right, and our responsibility in government is shared. Everyone must commit to their duties. The citizen has a right to protest, but he must pay the bill.
Al-Monitor: You don’t have a supportive political bloc. Will you be sacrificed?
Khatteeb: The people are my parliamentary bloc, and I am doing what I should. The decision is up to the parliament. I was questioned by the parliament four times in six months. I am not clinging to the position. I am here to do my job, and I will leave when my term is done.
Rosneft plans Geological Survey in Kurdistan in 2019
6th June 2019 in Iraq Oil & Gas News
By John Lee.
Russia’s Rosneft will reportedly conduct geological exploration in Iraqi Kurdistan this year.
CEO Igor Sechin (pictured) is quoted as telling the annual general meeting:
The company continues to implement the project to develop fields in Iraqi Kurdistan in the Middle East, where a geological exploration program is scheduled for this year to ensure production in the future.”
He added that pilot production at the Bijeel field began in the first quarter.
(Source: Tass)
World Gold Council: Iraq maintained its fifth position in the Arab largest reserves of gold for the month of June
"Iraq maintained its fifth Arab position in the largest gold reserves for June after Saudi Arabia, Lebanon, Algeria and Libya, which reached 96.3 tons, representing 6.1 percent of the rest of the other currencies," the council said in a statement published on its website.
The Council added that "Iraq also maintained the rank of 38 out of 100 countries listed in the international financial statistics of the global reserves of gold," noting that "the last purchase of gold for Iraq was in September of 2018 and the amount of 6.5 tons."
He added that "Russia was the most buying countries for gold during the current year and 70.4 tons, followed by China by 47.9, followed by Turkey by 42.7 tons," explaining that "the United States is still on the throne occupying the first place in the world in terms of these reserves, Amounted to 8.133.5 tons, followed by Germany with 3.367 tons.
Kauaihn Economic Times:
ECONOMIC TIMES / CHATTER
FOR TWITTER ACCT
Just send a text message from your cell phone to:
40404 (may have to add 40404 as a contact first) Then send a message that says: Follow @FactsnOpinion1 and you will join their twitter feed and instantly get the doc. You do NOT have to join twitter to get tweets
ONLY SPACE IS AFTER FOLLOW
who are on their computers to go to:
to get to our twitter feed
Gold prices rise, on pace for longest win streak in more than 4 months
Gold futures on Tuesday extend gains, putting the precious metal on pace for its longest win streak in more than four months as skittish investors continue to find appetite for gold following a rout of technology-related shares on Monday.
Read in MarketWatch: Gold notches 5th straight session climb, longest run of gains since January — MarketWatch
Gold ETF inflows rise on higher safe-haven demand
Mubasher: Holdings in gold-backed exchange-traded funds saw their biggest inflows in a year this week, indicating that the precious metal is regaining its safe-haven appeal.
Read in Mubasher: Gold ETF inflows rise on higher safe-haven demand — Mubasher
Here's Why Gold Stocks Rose
Falling Treasury bond yields have injected optimism into the gold market.
Read in The Motley Fool: Here's Why Gold Stocks Rose — The Motley Fool
Oil trades near four-month low amid OPEC cuts, economy concerns
Oil held near the lowest in more than four months in London, as expectations that OPEC will continue to restrain supplies tempered concerns that threats to the global economy will hurt demand.
Read in Chron.com: Oil trades near four-month low amid OPEC cuts, economy concerns — Chron.com
Oil costs plunge to January low as trade war dents demand
Global oil costs have hit their lowest level since January as demand is dented by the effects of the US-China trade war, according to market analysts.
Read in Sky News: Oil costs plunge to January low as trade war dents demand — Sky News
Global energy prices pummeled by economic slowdown forecasts
Energy markets are being battered across the board as negative data fuels concerns that consumption of oil, natural gas and coal will be hit hard by a global economic slowdown.
Read in Reuters: Global energy prices pummeled by economic slowdown forecasts — Reuters
METALS-Escalating trade war keeps copper pinned at five-month lows
* GRAPHIC-2019 asset returns:(Updates with copper, adds official prices)
Read in Reuters: METALS-Escalating trade war keeps copper pinned at five-month lows — Reuters
‘Buckle up!’ When oil and gold trade like this, it usually spells doom for the market
The combination of rising gold and falling crude — rare in the extent of its divergence — has delivered to some nasty consequences for the broader market over the years.
Read in MarketWatch: ‘Buckle up!’ When oil and gold trade like this, it usually spells doom for the market — MarketWatch
Federal Reserve, Facing Crisis of Self-Confidence, Seeks More Outside Input
Top Federal Reserve officials are as confounded as anyone by the current U.S. inflation rate, which has remained stubbornly below the central bank's target of 2% despite a strong labor market. Unsure how to proceed, officials led by Chair Jerome Powell have invited top economists to weigh in at a two-day conference this week in Chicago. President Donald Trump has hounded Federal Reserve Chair Jerome Powell to cut U.S. interest rates. Seemingly everyone is telling Federal Reserve Chairman Jerome
Read in TheStreet: Federal Reserve, Facing Crisis of Self-Confidence, Seeks More Outside Input — TheStreet
Australia Central Bank Set to Cut Rates to Fresh Record Low
Australia’s central bank is set to end an unprecedented pause in interest-rate cuts as it ratchets up efforts to revive inflation, a goal some economists say will require stimulus that tests the lower bounds of policy.
Read in Bloomberg: Australia Central Bank Set to Cut Rates to Fresh Record Low — Bloomberg
Canada raises capital requirement for domestic banks to 2%
Canada's bank regulator, the Office ofthe Superintendent of Financial Institutions, on Tuesday raisedthe capital requirement level for 'systemically important' banksin the country by 25 basis points, to 2%.
Read in Reuters: Canada raises capital requirement for domestic banks to 2% — Reuters
Chase is bringing forced arbitration clauses back to its most popular credit cards
Consumers may be able to opt out of the change, but could find other banks following suit.
Read in MarketWatch: Chase is bringing forced arbitration clauses back to its most popular credit cards — MarketWatch
Bank of New York Mellon quietly canned five from bond team
Bank of New York Mellon left this banker at the altar. The New York bank quietly cut five members of its bond sales team last month amid a broader slump in trading — including one 14-year veteran who was just days from his Bahamas wedding, The Post has learned. The institution bid adieu to Daniel Short, a fixed-income salesman who’s been with the bank since 2007, on May 20 — just six days before his lavish wedding at the Grand Hyatt Baha Mar on the island of Nassau, according to sources familiar
Read in New York Post: Bank of New York Mellon quietly canned five from bond team — New York Post
A full breakdown of where the stock market stands today
Is there enough pessimism to clear the way for a rebound in the indexes, or is a more dramatic downside "flush" needed?
Read in CNBC: A full breakdown of where the stock market stands today — CNBC
Brexit, data privacy rules damaging markets, report says
By Huw Jones LONDON (Reuters) - Brexit, tougher data privacy protection and a crackdown on foreign clearing houses risk fragmenting markets, bumping up costs and undermining efforts to avert another financial crisis, global regulators said on Tuesday. The International Organization of Securities Commissions, which groups market regulartors from the United States, Japan, China, the European Union and 30 other jurisdictions, said in a report that regulators were already working together more
Read in Business Insider: Brexit, data privacy rules damaging markets, report says — Business Insider
Stocks up on Trump's prediction US, UK trade will 'double or triple'
Also lifting investor sentiment, were rising shares of European automakers and their suppliers, which boosted the region's averages.
Read in Fox Business: Fed, Trump on trade give stocks best day since January — Fox Business
Investor Exposure To Fixed Income Reaches Six-Year High
Individual investors’ exposure to fixed-income investments reached a six-year high in May.
Read in Forbes: Investor Exposure To Fixed Income Reaches Six-Year High — Forbes
Bitcoin price drops and Litecoin loses over 7% as top 5 cryptos all fall again
How Did the Fab Five Finish? In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were down -3.62%. The best performer of the bunch was Bitcoin Cash, which went down 1.44%. As for the worst performing crypto out of the Big Five, yesterday that was Litecoin; it came in at down 7.04%. In total, none coins were up from the day prior, which indicates a wave of bearishness befell the sector as a whole. Crypto brokers to trade the currencies mentioned
Read in Coin Insider.: Bitcoin price drops and Litecoin loses over 7% as top 5 cryptos all fall again — Coin Insider.
Bitcoin [BTC] v Litecoin [LTC] Price Analysis: Coins encounter bearish market after weeks of bullish upswings
The cryptocurrency market has been experiencing a lot of volatility recently. Bitcoin [BTC] dipped below 8k and the 24-hour trading volume was falling, at press time. Litecoin [LTC] seized its lost position on the cryptocurrency charts from EOS, and was ranked fifth on CoinMarketCap, at press time. 1-Day BTC chart Bitcoin's 24-hour trading volume was...
Read in AMBCrypto: Bitcoin [BTC] v Litecoin [LTC] Price Analysis: Coins encounter bearish market after weeks of bullish upswings — AMBCrypto
Long-Term Support Level May Struggle to Revive Bitcoin Price Rally
Bitcoin’s price pullback seems to have stalled near historically strong support, but a bounce, if any, could be shallow.
Read in CoinDesk: Long-Term Support Level May Struggle to Revive Bitcoin Price Rally — CoinDesk
Ethereum [ETH] v Tron [TRX] Price Analysis: ETH and TRX follow the bear
Tron's Founder and CEO, Justin Sun, recently won a $4.57 million bid to have lunch with Warren Buffet, the CEO of Berkshire Hathaway. However, this development failed to bolster the coin's performance on the cryptocurrency charts. Meanwhile, Ethereum had experienced some volatility in the past few weeks and was performing well since a week, at...
Read in AMBCrypto: Ethereum [ETH] v Tron [TRX] Price Analysis: ETH and TRX follow the bear — AMBCrypto
Bitcoin's [BTC] current parabolic trajectory is similar to 2017 patterns, shows analysis
Bitcoin's [BTC] price fluctuation has been seen as a new marker in the cryptocurrency industry, with the movement of the world’s largest cryptocurrency also affecting the rest of the field. Another point that was raised by a lot of proponents of Bitcoin was the similarity in price patterns formed during the recent bullish hike, with...
Read in AMBCrypto: Bitcoin's [BTC] current parabolic trajectory is similar to 2017 patterns, shows analysis — AMBCrypto
Forex - Dollar Hits 3-Week Lows on Fed Rate Cut View
Forex Jun 04, 2019 08:08 GMT Investing.com - The dollar hit three-week lows against a currency basket on Tuesday as growing expectations for an interest rate cut by the Federal Reserve pressured Treasury yields, while persistent concerns over the global growth outlook boosted the safe haven yen. The benchmark 10-year Treasury’s yield fell to its lowest since September 2017 overnight, near 2%, after St. Louis Federal Reserve President James Bullard said a rate cut "may be warranted soon" given
Read in Investing.com: Forex - Dollar Hits 3-Week Lows on Fed Rate Cut View — Investing.com
Forex - U.S. Dollar Flat on Fed Comments; AUD/USD Inches Up Despite Weak GDP
Forex Jun 05, 2019 05:16 GMT Investing.com - The U.S. dollar was trading near flat on Wednesday in Asia, while the Aussie dollar inched up despite weaker-than-expected GDP data. The U.S. dollar index was little changed at 96.990 by 1:16 AM ET (05:16 GMT) after U.S. Federal Reserve Chair Jerome Powell hinted at the possibility of an interest rate cut in light of slow economic growth and trade tensions. "We don’t know how or when these issues will be resolved," Powell said. "As always, we will act
Read in Investing.com: Forex - U.S. Dollar Flat on Fed Comments; AUD/USD Inches Up Despite Weak GDP — Investing.com
Dollar hovers near seven-week low as Fed officials open door for rate cut
By Daniel Leussink TOKYO (Reuters) – The dollar struggled to bounce off seven-week lows on Wednesday after U.S. central bank officials hinted at the possibility of an interest rate cut in the face of rising risks to trade and global growth. Federal Reserve Chairman Jerome Powell on Tuesday dropped his standard reference to the Fed...
Read in CreaWorldNews: Dollar hovers near seven-week low as Fed officials open door for rate cut — CreaWorldNews
ECB To Hold Rates, Reveal Details Of TLTRO3 As Euro Edges Higher | Action Forex
The European Central Bank is due to announce its latest policy decision on Thursday at 11:45 GMT. No change in policy is being anticipated by the Bank but the meeting will still attract plenty of attention as details about the terms of the new round of cheap long-term loans are expected to be revealed. The […] The post ECB To Hold Rates, Reveal Details Of TLTRO3 As Euro Edges Higher appeared first on Action Forex.
Read in Action Forex: ECB To Hold Rates, Reveal Details Of TLTRO3 As Euro Edges Higher | Action Forex — Action Forex
Pound euro exchange rate: GBP plummets to five-month low after falling three days in a row
THE POUND has plummeted to a five-month low and fell for the third day in a row yesterday due to disappointing economic data. This, and ongoing Brexit uncertainty, could see GBP fall further today, experts have warned. The pound has slumped to a five-month low against the euro in a poor beginning to the month of June. GBP fell for the third day in a row yesterday and could slide again today, experts have said. This comes following the release of “disappointing economic data” and “continued
Read in Express: Pound euro exchange rate: GBP plummets to five-month low after falling three days in a row — Express
Mozambique has 10% of its reserves in Chinese currency
The growing internationalisation of China’s currency strengthens Mozambique’s interest in making investments in yuan, said the governor of the Mozambican central bank at the 10th International Forum on Investment and Infrastructure Construction. Rogério Lucas Zandamela said that 10% of his country’s foreign exchange reserves are denominated in the Chinese currency and stressed the increasingly dominant...
Read in FurtherAfrica: Mozambique has 10% of its reserves in Chinese currency — FurtherAfrica
UPDATE 2-South Africa's rand slumps after GDP shocker, stocks up
* Q1 GDP down 3.2% on quarterly basis
Read in Reuters: UPDATE 2-South Africa's rand slumps after GDP shocker, stocks up — Reuters
McDonald's Is Accepting International Cash For 1 Day To Help You Score Worldwide Treats
If you have a wallet full of spare international bills from your recent vacay, I have good news for you. The McDonald's International Currency Exchange is taking place in June, which means you'll be able to put your extra money to use. The official…
Read in Elite Daily: McDonald's Is Accepting International Cash For 1 Day To Help You Score Worldwide Treats — Elite Daily
Currency Exchange International Announces Financial Results for the Three and Six Month Periods Ended April 30, 2019
TORONTO, June 04, 2019 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (the "Company") (TSX:CXI, OTC:CURN), is pleased to announce its financial results and present management's discussion and analysis ("MD&A") for the three and six month periods ended April 30, 2019 (all figures are in U.S. dollars except where otherwise indicated). The complete financial statements and MD&A can be found on the Company's SEDAR profile at www.sedar.com. Financial Highlights for the Three-month Period
Read in Benzinga: Currency Exchange International Announces Financial Results for the Three and Six Month Periods Ended April 30, 2019 — Benzinga
CVS to expand health hubs to 1,500 stores by end of 2021
CVS Health Corp said it would offer expanded health services such as nutrition counseling and blood pressure screenings in 1,500 stores by the end of 2021, following through on plans announced during the pharmacy chain's 2018 acquisition of health insurer Aetna.
Read in Reuters: CVS to expand health hubs to 1,500 stores by end of 2021 — Reuters
Opinion: Don’t keep delaying retirement for ‘one more year’ out of fear of these unexpected expenses
Surprise bills are a big worry in retirement — but sometimes insurance isn’t worth it.
Read in MarketWatch: Opinion: Don’t keep delaying retirement for ‘one more year’ out of fear of these unexpected expenses — MarketWatch
First gene-edited babies may be at risk of early death, study finds
In 2018, a Chinese researcher shocked the world by announcing the birth of two gene-edited babies. The mutations may have hurt, not helped.
Read in National Geographic: First gene-edited babies may be at risk of early death, study finds — National Geographic
Prices of the most common prescription drugs nearly doubled in less than a decade
The one issue most Americans can agree on is that the price of prescription drugs are out of control. An analysis from researchers at Scripps Research Institute in La Jolla, California, found that 48 out of 49—or 97%—of the most commonly prescribed drugs increased in price between January 2012 and December 2017. These price hikes...
Read in Quartz: Prices of the most common prescription drugs nearly doubled in less than a decade — Quartz
Hi-tech gadget will be used to relieve severe headaches
Severe headache sufferers will be given a gadget rather than pills to alleviate the pain, the head of NHS England announced on Wednesday.
Read in The Telegraph: Hi-tech gadget will be used to relieve severe headaches under raft of new NHS treatments — The Telegraph
New pill set to revolutionise prostate cancer treatment
The British research, presented at the world's biggest cancer conference in Chicago, pave the way for the first personalised - or 'precision' - medicine for prostate cancer.
Read in Daily Mail: New pill set to revolutionise prostate cancer treatment — Daily Mail
House passes $19 billion disaster relief bill after delays, sending it to Trump
Trump, who objected to past disaster relief efforts over funding allotted for the hurricane-ravaged U.S. territory of Puerto Rico, said he would support the plan passed Monday.
Read in CNBC: House passes $19 billion disaster relief bill after delays, sending it to Trump — CNBC
House passes long-delayed $19.1 billion disaster aid bill
The bill's passage was delayed during Congress' recent recess by three dissenting Republican congressmen
Read in CBS News: House passes long-delayed $19.1 billion disaster aid bill — CBS News
America's refineries really need Mexican oil. Tariffs will hurt their business
The Trump administration's threatened tariffs on Mexico couldn't come at a worse time for America's oil refineries.
Read in CNN Business: America’s refineries really need Mexican oil. Tariffs will hurt their business. — CNN Business
Los Angeles in 'oversupply' of mega-mansions for sale, report says
Developers and real estate agents are struggling to sell mega-mansions in Los Angeles, according to a report.
Read in Fox Business: Los Angeles in 'oversupply' of mega-mansions for sale, report says — Fox Business
Historic flooding in Heartland, water levels rise
Some parts of the central U.S. are seeing their worst flooding in history.
Read in ABC News: Historic flooding in Heartland, water levels rise — ABC News
U.S. lawmakers to push back against Trump on Saudi weapons sales
By Patricia Zengerle WASHINGTON (Reuters) – Members of the U.S. Congress, including some of President Donald Trump’s fellow Republicans as well as Democrats, are preparing legislation seeking to block his plan for $8 billion in weapons sales to Saudi Arabia, the United Arab Emirates and Jordan, congressional aides and lawmakers said on Tuesday. The first...
Read in CreaWorldNews: U.S. lawmakers to push back against Trump on Saudi weapons sales — CreaWorldNews
Trump’s trade tweets gobsmack Mexico and Canada
Officials in Mexico and Canada have spent two years learning how to navigate a fractious U.S. president. Now they're using those lessons.
Read in POLITICO: https://apple.news/
Stability in Iraq: On a knife's edge
Given the importance of a stable and democratic Iraq, what should the U.S. be doing?
Read in The Hill: Stability in Iraq: On a knife's edge — The Hill
Zimbabwe: Rural Teachers Withdraw Labour, Accuse Govt of Dirty Tactics
A teachers union has accused government of intimidating its members after it decided on industrial action beginning Monday. In a statement, Amalgamated Rural Teachers Union of Zimbabwe (ARTUZ) president, Obert Masaraure said his labour body's call to down tools has been well received by rural teachers. "Teachers are demanding a living wage. We want our current salaries of around 500RTGS$ to be paid in USD, as was the case before the current crisis. "The strike involves total withdrawal of labour
Read in AllAfrica: https://apple.news/
Zimbabwe: U.S.$100m for Miners Training
A UNITED KINGDOM based firm, Bestfield Consulting, has set aside US$100 million for a project that will see small-scale miners getting training and expert assistance in modern mining methods as a way of boosting the sector's output. Although the project will cut across different minerals, it will especially focus on gold where small scale miners continue to outperform their primary producing counterparts despite a heavy reliance on rudimentary mining methods. The deal was struck between
Read in AllAfrica: https://apple.news/
Zimbabwe: Govt Pins Hope On Oil Findings
Zimbabwe may start producing its own diesel and petrol within the next 10 years following encouraging exploration findings by Australian company, Invictus Energy, in the Muzarabani area, a Cabinet minister has said. Discovery of oil, which appears highly likely as evidenced by the results of extensive evaluation of existing and new data using latest technology, will be a major breakthrough for a resource dependent economy facing acute fuel shortage amid crunch foreign currency shortages. African
Read in AllAfrica: https://apple.news/A3-
Zimbabwe: Businesses Drop Local Currency for U.S. Dollars
As Zimbabwe’s economy struggles and the country faces scarce fuel supplies, some businesses are refusing to accept the ever-weakening local currency, insisting on doing business in U.S. dollars. One reason is that the local currency, known as bond notes, are not accepted outside the southern African country, making them useless for any companies that need to import goods. This spare vehicle parts seller, Tongai Madamombe, says he wants President Emmerson Mnangagwa’s government to switch to the
Read in AllAfrica: https://apple.news/
Zimbabwe's mineral-backed loans may complicate talks with creditors, IMF says
Foreign loans that use mineralsas collateral may complicate Zimbabwe's future negotiations withforeign creditors to restructure its $8.8 billion debt, anInternational Monetary Fund official said on Monday.
Read in Reuters: https://apple.news/
South Africa: Economy Contracts By 3.2 Percent in the First Quarter
Statistician General Risenga Maluleke says the country's Gross Domestic Product (GDP) contracted by 3.2% in the first quarter of 2019. Speaking at the release of the GDP results for the first quarter of 2019, Maluleke on Tuesday said this was largely due to the mining and quarrying and manufacturing industries being negative contributors to growth quarter-on-quarter. The manufacturing industry decreased by 8.8% and contributed -1.1 percentage points to the GDP. Seven of the 10 manufacturing
Read in AllAfrica: https://apple.news/
South Africa's economy plummets by most in a decade
South Africa's economy plummets by most in a decade, challenging new administration's reforms
Read in ABC News: https://apple.news/
Ethiopia and Kenya are struggling to manage debt for their Chinese-built railways
In the wake of the Belt and Road Initiative (BRI) Forum in Beijing six weeks ago, Ethiopia gained another Chinese debt-concession. China’s second-largest African borrower and prominent BRI partner in infrastructure finance also received a cancellation on all interest-free loans up to the end of 2018. This was on top of previous renegotiated extensions of...
Read in Quartz: https://apple.news/
China warns students about risks of studying in the US
The trade turmoil between the U.S. and China is causing some big money concerns for universities as the Chinese government issues a "study abroad" alert to Chinese students in the U.S. CNBC's Robert Frank reports.
Read in CNBC: https://apple.news/
China chides Mike Pompeo after he calls on them to reveal Tiananmen Square death toll
China admonished comments made by Secretary of State Mike Pompeo about the 30th anniversary of the bloody crackdown on the Tiananmen Square protest, saying Tuesday the top U.S. diplomat spoke "out of prejudice and arrogance."
Read in Fox News: https://apple.news/
China issues travel warning for US, citing guns and harassment
China is warning its citizens of the risks associated with visiting the U.S., including harassment and the frequency of shootings.
Read in The Hill: https://apple.news/
Exclusive: Pile drive - China expected to divert outstanding U.S. soybean cargoes into reserves
China will stockpile up to 7 million tonnes of soybeans bought from the United States during an earlier truce in the trade war between the nations, two traders familiar with the matter said, rather than crush them for immediate sale as a feed ingredient.
Read in Reuters: https://apple.news/Aibvq8B_
As US and China spar, the rest of Asia risks being stuck in the middle
The US and Chinese defense chiefs were both at Asia's premier defense forum at the weekend. Yet neither acting US Defense Secretary Patrick Shanahan nor Chinese Defense Minister Gen. Wei Fenghe addressed increasing anxiety among smaller Asian states over the growing face-off between the world's two largest economies.
Read in CNN: https://apple.news/
U.S.'s Mnuchin to meet with Chinese central banker at G20 gathering
U.S. Treasury Secretary Steven Mnuchin is scheduled to meet with People's Bank of China Governor Yi Gang this weekend at a gathering of G20 finance leaders in Japan, marking the first face-to-face discussion between key U.S. and Chinese trade negotiators in nearly a month.
Read in Reuters: Mnuchin to meet with Chinese central banker at G20 gathering — Reuters
Vietnam biggest winner from first year of the US-China trade war as supply chains shift, report shows
Vietnam is the biggest winner from the shift in supply chains caused by the nearly year-long trade war between China and the United States, according to a report, as importers from the world’s two largest economies sought to avoid paying increased tariffs…
Read in South China Morning Post: Vietnam biggest winner from first year of the US-China trade war as supply chains shift, report shows — South China Morning Post
Asian shares catch Wall Street's Fed cheer; dollar remains weak
By Tomo Uetake Tokyo (Reuters) - Asian shares tracked the Wall Street rally on Wednesday after U.S. central bank comments pointed to the increasing prospects of an interest rate cut, boosting investor sentiment and pushing the dollar lower. The rebound in stock prices also prompted U.S. bond yields to step up from their recent lows, with the 10-year yield off its 21-month low hit earlier in the week. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.4%, while Japan's Nikkei
Read in Business Insider: Asian shares catch Wall Street's Fed cheer; dollar remains weak — Business Insider
EUROPE
UPDATE 2-Inflation's decline puts pressure back on ECB
(Adds market reaction, analyst)
Read in Reuters: https://apple.news/
France calls for EU market rules revamp after Brexit
Rules in European Union memberstates for granting trading access to foreign banks need arethink after Brexit to help prevent lenders from basingthemselves in countries with laxer supervision, France's marketswatchdog said on Tuesday.
Read in Reuters: https://apple.news/A-Sf-
EU chief executive to meet Trump advisor Kushner
U.S. President Donald Trump's senior advisor Jared Kushner will meet with the European Union's chief executive Jean-Claude Juncker on Tuesday afternoonin Brussels.
Read in Reuters: https://apple.news/A-
“Let’s do this deal”: Trump talks trade with British Prime Minister Theresa May
The PM says they should "build on" a "great relationship" in a joint news conference with President Trump.
Read in BBC News: https://apple.news/
Fox resorts to cynical spin as foreign investment in UK tumbles
The May government has been arguably the worst in British political history but one area where it has proven truly world class is in the cynical and selective use of figures that an unkind person might refer to as weasely mendacity.
Read in The Independent: https://apple.news/
GLOBAL/NEWS/INFO
OIL/COMMODITIES/ENERGY
Gold prices rise, on pace for longest win streak in more than 4 months
Gold futures on Tuesday extend gains, putting the precious metal on pace for its longest win streak in more than four months as skittish investors continue to find appetite for gold following a rout of technology-related shares on Monday.
Read in MarketWatch: Gold notches 5th straight session climb, longest run of gains since January — MarketWatch
Gold ETF inflows rise on higher safe-haven demand
Mubasher: Holdings in gold-backed exchange-traded funds saw their biggest inflows in a year this week, indicating that the precious metal is regaining its safe-haven appeal.
Read in Mubasher: Gold ETF inflows rise on higher safe-haven demand — Mubasher
Here's Why Gold Stocks Rose
Falling Treasury bond yields have injected optimism into the gold market.
Read in The Motley Fool: Here's Why Gold Stocks Rose — The Motley Fool
Oil trades near four-month low amid OPEC cuts, economy concerns
Oil held near the lowest in more than four months in London, as expectations that OPEC will continue to restrain supplies tempered concerns that threats to the global economy will hurt demand.
Read in Chron.com: Oil trades near four-month low amid OPEC cuts, economy concerns — Chron.com
Oil costs plunge to January low as trade war dents demand
Global oil costs have hit their lowest level since January as demand is dented by the effects of the US-China trade war, according to market analysts.
Read in Sky News: Oil costs plunge to January low as trade war dents demand — Sky News
Oil prices fall after surprise build in U.S. inventories
Oil prices resumed their slide on Wednesday, dragged down by a surpise gain in U.S. inventories and comments from the head of Russian state oil producer Rosneft questioning the point of a deal with OPEC to withhold supplies.
Read in Reuters: https://apple.news/
Oil prices resumed their slide on Wednesday, dragged down by a surpise gain in U.S. inventories and comments from the head of Russian state oil producer Rosneft questioning the point of a deal with OPEC to withhold supplies.
Read in Reuters: https://apple.news/
Global energy prices pummeled by economic slowdown forecasts
Energy markets are being battered across the board as negative data fuels concerns that consumption of oil, natural gas and coal will be hit hard by a global economic slowdown.
Read in Reuters: Global energy prices pummeled by economic slowdown forecasts — Reuters
METALS-Escalating trade war keeps copper pinned at five-month lows
* GRAPHIC-2019 asset returns:(Updates with copper, adds official prices)
Read in Reuters: METALS-Escalating trade war keeps copper pinned at five-month lows — Reuters
‘Buckle up!’ When oil and gold trade like this, it usually spells doom for the market
The combination of rising gold and falling crude — rare in the extent of its divergence — has delivered to some nasty consequences for the broader market over the years.
Read in MarketWatch: ‘Buckle up!’ When oil and gold trade like this, it usually spells doom for the market — MarketWatch
BANKS/BANKING/CREDIT
Fed official says bank may need to cut rates in 2019
A top Federal Reserve official said Monday that the central bank may be forced to cut interest rates this year if economic growth slows and inflation remains low.
Read in The Hill: Fed official says bank may need to cut rates in 2019 — The Hill
A top Federal Reserve official said Monday that the central bank may be forced to cut interest rates this year if economic growth slows and inflation remains low.
Read in The Hill: Fed official says bank may need to cut rates in 2019 — The Hill
Federal Reserve, Facing Crisis of Self-Confidence, Seeks More Outside Input
Top Federal Reserve officials are as confounded as anyone by the current U.S. inflation rate, which has remained stubbornly below the central bank's target of 2% despite a strong labor market. Unsure how to proceed, officials led by Chair Jerome Powell have invited top economists to weigh in at a two-day conference this week in Chicago. President Donald Trump has hounded Federal Reserve Chair Jerome Powell to cut U.S. interest rates. Seemingly everyone is telling Federal Reserve Chairman Jerome
Read in TheStreet: Federal Reserve, Facing Crisis of Self-Confidence, Seeks More Outside Input — TheStreet
Australia Central Bank Set to Cut Rates to Fresh Record Low
Australia’s central bank is set to end an unprecedented pause in interest-rate cuts as it ratchets up efforts to revive inflation, a goal some economists say will require stimulus that tests the lower bounds of policy.
Read in Bloomberg: Australia Central Bank Set to Cut Rates to Fresh Record Low — Bloomberg
Swiss multi-national investment bank, UBS introduces Fnality International with investment of $63.2 million
UBS Group AG, a Swiss multi-national investment bank and financial services company, will be using its own digital currency for cross-border payment settlements. A report published by MarketWatch stated that a total of fourteen firms have developed a coin named, Utility Settlement Coin [USC], and among those firms includes leading banks of the United States,...
Read in AMBCrypto: https://apple.news/AK86cl8_
UBS Group AG, a Swiss multi-national investment bank and financial services company, will be using its own digital currency for cross-border payment settlements. A report published by MarketWatch stated that a total of fourteen firms have developed a coin named, Utility Settlement Coin [USC], and among those firms includes leading banks of the United States,...
Read in AMBCrypto: https://apple.news/AK86cl8_
Canada raises capital requirement for domestic banks to 2%
Canada's bank regulator, the Office ofthe Superintendent of Financial Institutions, on Tuesday raisedthe capital requirement level for 'systemically important' banksin the country by 25 basis points, to 2%.
Read in Reuters: Canada raises capital requirement for domestic banks to 2% — Reuters
Chase is bringing forced arbitration clauses back to its most popular credit cards
Consumers may be able to opt out of the change, but could find other banks following suit.
Read in MarketWatch: Chase is bringing forced arbitration clauses back to its most popular credit cards — MarketWatch
Bank of New York Mellon quietly canned five from bond team
Bank of New York Mellon left this banker at the altar. The New York bank quietly cut five members of its bond sales team last month amid a broader slump in trading — including one 14-year veteran who was just days from his Bahamas wedding, The Post has learned. The institution bid adieu to Daniel Short, a fixed-income salesman who’s been with the bank since 2007, on May 20 — just six days before his lavish wedding at the Grand Hyatt Baha Mar on the island of Nassau, according to sources familiar
Read in New York Post: Bank of New York Mellon quietly canned five from bond team — New York Post
TREASURIES/BONDS/STOCKS
A full breakdown of where the stock market stands today
Is there enough pessimism to clear the way for a rebound in the indexes, or is a more dramatic downside "flush" needed?
Read in CNBC: A full breakdown of where the stock market stands today — CNBC
Brexit, data privacy rules damaging markets, report says
By Huw Jones LONDON (Reuters) - Brexit, tougher data privacy protection and a crackdown on foreign clearing houses risk fragmenting markets, bumping up costs and undermining efforts to avert another financial crisis, global regulators said on Tuesday. The International Organization of Securities Commissions, which groups market regulartors from the United States, Japan, China, the European Union and 30 other jurisdictions, said in a report that regulators were already working together more
Read in Business Insider: Brexit, data privacy rules damaging markets, report says — Business Insider
Stocks up on Trump's prediction US, UK trade will 'double or triple'
Also lifting investor sentiment, were rising shares of European automakers and their suppliers, which boosted the region's averages.
Read in Fox Business: Fed, Trump on trade give stocks best day since January — Fox Business
Investor Exposure To Fixed Income Reaches Six-Year High
Individual investors’ exposure to fixed-income investments reached a six-year high in May.
Read in Forbes: Investor Exposure To Fixed Income Reaches Six-Year High — Forbes
Top 5 Things to Know in the Market on Wednesday
Economy Jun 05, 2019 09:44 GMT Investing.com - Here are the top five things you need to know in financial markets on Wednesday, June 5: 1. Stocks ride wave of rate cut hopes Global stocks moved higher on Wednesday riding the wave of bullish sentiment provoked by the interpretations that the Federal Reserve was prepared to step in and loosen policy in order to support the economy. Fed Chairman Jerome Powell promised to do what was “appropriate” in response to the impact of developments in trade
Read in Investing.com: Top 5 Things to Know in the Market on Wednesday — Investing.com
Economy Jun 05, 2019 09:44 GMT Investing.com - Here are the top five things you need to know in financial markets on Wednesday, June 5: 1. Stocks ride wave of rate cut hopes Global stocks moved higher on Wednesday riding the wave of bullish sentiment provoked by the interpretations that the Federal Reserve was prepared to step in and loosen policy in order to support the economy. Fed Chairman Jerome Powell promised to do what was “appropriate” in response to the impact of developments in trade
Read in Investing.com: Top 5 Things to Know in the Market on Wednesday — Investing.com
CRYPTO'S / DIGITAL CURRENCY
Bitcoin price drops and Litecoin loses over 7% as top 5 cryptos all fall again
How Did the Fab Five Finish? In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were down -3.62%. The best performer of the bunch was Bitcoin Cash, which went down 1.44%. As for the worst performing crypto out of the Big Five, yesterday that was Litecoin; it came in at down 7.04%. In total, none coins were up from the day prior, which indicates a wave of bearishness befell the sector as a whole. Crypto brokers to trade the currencies mentioned
Read in Coin Insider.: Bitcoin price drops and Litecoin loses over 7% as top 5 cryptos all fall again — Coin Insider.
Bitcoin [BTC] v Litecoin [LTC] Price Analysis: Coins encounter bearish market after weeks of bullish upswings
The cryptocurrency market has been experiencing a lot of volatility recently. Bitcoin [BTC] dipped below 8k and the 24-hour trading volume was falling, at press time. Litecoin [LTC] seized its lost position on the cryptocurrency charts from EOS, and was ranked fifth on CoinMarketCap, at press time. 1-Day BTC chart Bitcoin's 24-hour trading volume was...
Read in AMBCrypto: Bitcoin [BTC] v Litecoin [LTC] Price Analysis: Coins encounter bearish market after weeks of bullish upswings — AMBCrypto
Long-Term Support Level May Struggle to Revive Bitcoin Price Rally
Bitcoin’s price pullback seems to have stalled near historically strong support, but a bounce, if any, could be shallow.
Read in CoinDesk: Long-Term Support Level May Struggle to Revive Bitcoin Price Rally — CoinDesk
Ethereum [ETH] v Tron [TRX] Price Analysis: ETH and TRX follow the bear
Tron's Founder and CEO, Justin Sun, recently won a $4.57 million bid to have lunch with Warren Buffet, the CEO of Berkshire Hathaway. However, this development failed to bolster the coin's performance on the cryptocurrency charts. Meanwhile, Ethereum had experienced some volatility in the past few weeks and was performing well since a week, at...
Read in AMBCrypto: Ethereum [ETH] v Tron [TRX] Price Analysis: ETH and TRX follow the bear — AMBCrypto
Bitcoin's [BTC] current parabolic trajectory is similar to 2017 patterns, shows analysis
Bitcoin's [BTC] price fluctuation has been seen as a new marker in the cryptocurrency industry, with the movement of the world’s largest cryptocurrency also affecting the rest of the field. Another point that was raised by a lot of proponents of Bitcoin was the similarity in price patterns formed during the recent bullish hike, with...
Read in AMBCrypto: Bitcoin's [BTC] current parabolic trajectory is similar to 2017 patterns, shows analysis — AMBCrypto
CURRENCIES
Forex Jun 04, 2019 08:08 GMT Investing.com - The dollar hit three-week lows against a currency basket on Tuesday as growing expectations for an interest rate cut by the Federal Reserve pressured Treasury yields, while persistent concerns over the global growth outlook boosted the safe haven yen. The benchmark 10-year Treasury’s yield fell to its lowest since September 2017 overnight, near 2%, after St. Louis Federal Reserve President James Bullard said a rate cut "may be warranted soon" given
Read in Investing.com: Forex - Dollar Hits 3-Week Lows on Fed Rate Cut View — Investing.com
Forex - U.S. Dollar Flat on Fed Comments; AUD/USD Inches Up Despite Weak GDP
Forex Jun 05, 2019 05:16 GMT Investing.com - The U.S. dollar was trading near flat on Wednesday in Asia, while the Aussie dollar inched up despite weaker-than-expected GDP data. The U.S. dollar index was little changed at 96.990 by 1:16 AM ET (05:16 GMT) after U.S. Federal Reserve Chair Jerome Powell hinted at the possibility of an interest rate cut in light of slow economic growth and trade tensions. "We don’t know how or when these issues will be resolved," Powell said. "As always, we will act
Read in Investing.com: Forex - U.S. Dollar Flat on Fed Comments; AUD/USD Inches Up Despite Weak GDP — Investing.com
Dollar hovers near seven-week low as Fed officials open door for rate cut
By Daniel Leussink TOKYO (Reuters) – The dollar struggled to bounce off seven-week lows on Wednesday after U.S. central bank officials hinted at the possibility of an interest rate cut in the face of rising risks to trade and global growth. Federal Reserve Chairman Jerome Powell on Tuesday dropped his standard reference to the Fed...
Read in CreaWorldNews: Dollar hovers near seven-week low as Fed officials open door for rate cut — CreaWorldNews
The European Central Bank is due to announce its latest policy decision on Thursday at 11:45 GMT. No change in policy is being anticipated by the Bank but the meeting will still attract plenty of attention as details about the terms of the new round of cheap long-term loans are expected to be revealed. The […] The post ECB To Hold Rates, Reveal Details Of TLTRO3 As Euro Edges Higher appeared first on Action Forex.
Read in Action Forex: ECB To Hold Rates, Reveal Details Of TLTRO3 As Euro Edges Higher | Action Forex — Action Forex
Pound euro exchange rate: GBP plummets to five-month low after falling three days in a row
THE POUND has plummeted to a five-month low and fell for the third day in a row yesterday due to disappointing economic data. This, and ongoing Brexit uncertainty, could see GBP fall further today, experts have warned. The pound has slumped to a five-month low against the euro in a poor beginning to the month of June. GBP fell for the third day in a row yesterday and could slide again today, experts have said. This comes following the release of “disappointing economic data” and “continued
Read in Express: Pound euro exchange rate: GBP plummets to five-month low after falling three days in a row — Express
Mozambique has 10% of its reserves in Chinese currency
The growing internationalisation of China’s currency strengthens Mozambique’s interest in making investments in yuan, said the governor of the Mozambican central bank at the 10th International Forum on Investment and Infrastructure Construction. Rogério Lucas Zandamela said that 10% of his country’s foreign exchange reserves are denominated in the Chinese currency and stressed the increasingly dominant...
Read in FurtherAfrica: Mozambique has 10% of its reserves in Chinese currency — FurtherAfrica
UPDATE 2-South Africa's rand slumps after GDP shocker, stocks up
* Q1 GDP down 3.2% on quarterly basis
Read in Reuters: UPDATE 2-South Africa's rand slumps after GDP shocker, stocks up — Reuters
McDonald's Is Accepting International Cash For 1 Day To Help You Score Worldwide Treats
If you have a wallet full of spare international bills from your recent vacay, I have good news for you. The McDonald's International Currency Exchange is taking place in June, which means you'll be able to put your extra money to use. The official…
Read in Elite Daily: McDonald's Is Accepting International Cash For 1 Day To Help You Score Worldwide Treats — Elite Daily
Currency Exchange International Announces Financial Results for the Three and Six Month Periods Ended April 30, 2019
TORONTO, June 04, 2019 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (the "Company") (TSX:CXI, OTC:CURN), is pleased to announce its financial results and present management's discussion and analysis ("MD&A") for the three and six month periods ended April 30, 2019 (all figures are in U.S. dollars except where otherwise indicated). The complete financial statements and MD&A can be found on the Company's SEDAR profile at www.sedar.com. Financial Highlights for the Three-month Period
Read in Benzinga: Currency Exchange International Announces Financial Results for the Three and Six Month Periods Ended April 30, 2019 — Benzinga
HEALTH / SCIENCE
CVS to expand health hubs to 1,500 stores by end of 2021
CVS Health Corp said it would offer expanded health services such as nutrition counseling and blood pressure screenings in 1,500 stores by the end of 2021, following through on plans announced during the pharmacy chain's 2018 acquisition of health insurer Aetna.
Read in Reuters: CVS to expand health hubs to 1,500 stores by end of 2021 — Reuters
Opinion: Don’t keep delaying retirement for ‘one more year’ out of fear of these unexpected expenses
Surprise bills are a big worry in retirement — but sometimes insurance isn’t worth it.
Read in MarketWatch: Opinion: Don’t keep delaying retirement for ‘one more year’ out of fear of these unexpected expenses — MarketWatch
First gene-edited babies may be at risk of early death, study finds
In 2018, a Chinese researcher shocked the world by announcing the birth of two gene-edited babies. The mutations may have hurt, not helped.
Read in National Geographic: First gene-edited babies may be at risk of early death, study finds — National Geographic
Prices of the most common prescription drugs nearly doubled in less than a decade
The one issue most Americans can agree on is that the price of prescription drugs are out of control. An analysis from researchers at Scripps Research Institute in La Jolla, California, found that 48 out of 49—or 97%—of the most commonly prescribed drugs increased in price between January 2012 and December 2017. These price hikes...
Read in Quartz: Prices of the most common prescription drugs nearly doubled in less than a decade — Quartz
Hi-tech gadget will be used to relieve severe headaches
Severe headache sufferers will be given a gadget rather than pills to alleviate the pain, the head of NHS England announced on Wednesday.
Read in The Telegraph: Hi-tech gadget will be used to relieve severe headaches under raft of new NHS treatments — The Telegraph
New pill set to revolutionise prostate cancer treatment
The British research, presented at the world's biggest cancer conference in Chicago, pave the way for the first personalised - or 'precision' - medicine for prostate cancer.
Read in Daily Mail: New pill set to revolutionise prostate cancer treatment — Daily Mail
USA / CANADA
House passes $19 billion disaster relief bill after delays, sending it to Trump
Trump, who objected to past disaster relief efforts over funding allotted for the hurricane-ravaged U.S. territory of Puerto Rico, said he would support the plan passed Monday.
Read in CNBC: House passes $19 billion disaster relief bill after delays, sending it to Trump — CNBC
House passes long-delayed $19.1 billion disaster aid bill
The bill's passage was delayed during Congress' recent recess by three dissenting Republican congressmen
Read in CBS News: House passes long-delayed $19.1 billion disaster aid bill — CBS News
America's refineries really need Mexican oil. Tariffs will hurt their business
The Trump administration's threatened tariffs on Mexico couldn't come at a worse time for America's oil refineries.
Read in CNN Business: America’s refineries really need Mexican oil. Tariffs will hurt their business. — CNN Business
Los Angeles in 'oversupply' of mega-mansions for sale, report says
Developers and real estate agents are struggling to sell mega-mansions in Los Angeles, according to a report.
Read in Fox Business: Los Angeles in 'oversupply' of mega-mansions for sale, report says — Fox Business
Historic flooding in Heartland, water levels rise
Some parts of the central U.S. are seeing their worst flooding in history.
Read in ABC News: Historic flooding in Heartland, water levels rise — ABC News
U.S. lawmakers to push back against Trump on Saudi weapons sales
By Patricia Zengerle WASHINGTON (Reuters) – Members of the U.S. Congress, including some of President Donald Trump’s fellow Republicans as well as Democrats, are preparing legislation seeking to block his plan for $8 billion in weapons sales to Saudi Arabia, the United Arab Emirates and Jordan, congressional aides and lawmakers said on Tuesday. The first...
Read in CreaWorldNews: U.S. lawmakers to push back against Trump on Saudi weapons sales — CreaWorldNews
Trump’s trade tweets gobsmack Mexico and Canada
Officials in Mexico and Canada have spent two years learning how to navigate a fractious U.S. president. Now they're using those lessons.
Read in POLITICO: https://apple.news/
EMERGING MARKETS
Kremlin dismisses Trump tweet on alleged Venezuela withdrawal
The Kremlin said on Tuesday it didn't know where U.S. President Donald Trump had got the idea Moscow had removed most of its military specialists from Venezuela, who it said continued to work there.
Read in Reuters: Kremlin dismisses Trump tweet on alleged Venezuela withdrawal — Reuters
The Kremlin said on Tuesday it didn't know where U.S. President Donald Trump had got the idea Moscow had removed most of its military specialists from Venezuela, who it said continued to work there.
Read in Reuters: Kremlin dismisses Trump tweet on alleged Venezuela withdrawal — Reuters
Major steps taken for regime change in Venezuela
A crucial step may have taken place to assure the ouster of embattled President Nicolás Maduro from power in the Latin American country.
Read in Fox Business: Major steps taken for regime change in Venezuela — Fox Business
Read in Fox Business: Major steps taken for regime change in Venezuela — Fox Business
Mexico says it sees good chance of avoiding 5% US tariff
Mexico says it thinks there's likely to be an agreement Wednesday with the United States that will avoid a 5% tariff on Mexican goods announced last week by President Donald Trump
Read in ABC News: Mexico says it sees good chance of avoiding 5% US tariff — ABC News
Mexico says it thinks there's likely to be an agreement Wednesday with the United States that will avoid a 5% tariff on Mexican goods announced last week by President Donald Trump
Read in ABC News: Mexico says it sees good chance of avoiding 5% US tariff — ABC News
Mexico's Pres. López Obrador expects deal with U.S. over immigration
“I’m optimistic...that there will be a deal before June 10,” said Mexico's president.
Read in NBC News: Mexico's Pres. López Obrador expects deal with U.S. over immigration — NBC News
“I’m optimistic...that there will be a deal before June 10,” said Mexico's president.
Read in NBC News: Mexico's Pres. López Obrador expects deal with U.S. over immigration — NBC News
Emerging markets spoil IMF optimism - AEI
Judging by its recent World Economic Outlook report, the International Monetary Fund is pinning its hopes for a much-needed boost to the stagnating world economy on an emerging market rebound in the second half of 2019. There are at least two reasons to believe the Fund’s optimism in these markets’ economic prospects is misplaced. The first is that the IMF has the unrealistic expectation of an early resolution of the Argentine and Turkish currency crises. The peso and lira have declined by
Read in AEI: Emerging markets spoil IMF optimism - AEI — AEI
Judging by its recent World Economic Outlook report, the International Monetary Fund is pinning its hopes for a much-needed boost to the stagnating world economy on an emerging market rebound in the second half of 2019. There are at least two reasons to believe the Fund’s optimism in these markets’ economic prospects is misplaced. The first is that the IMF has the unrealistic expectation of an early resolution of the Argentine and Turkish currency crises. The peso and lira have declined by
Read in AEI: Emerging markets spoil IMF optimism - AEI — AEI
Mobius: India best emerging market
CNBC's "Closing Bell" team is joined by "Fast Money" trader Guy Adami and Mark Mobius, founding partner at Mobius Capital Partners, to break down how investors can get into emerging markets.
Read in CNBC: Mobius: India best emerging market — CNBC
CNBC's "Closing Bell" team is joined by "Fast Money" trader Guy Adami and Mark Mobius, founding partner at Mobius Capital Partners, to break down how investors can get into emerging markets.
Read in CNBC: Mobius: India best emerging market — CNBC
UPDATE 1-Brazil economy chief slams 'excessive' bank profits, urges competition
(Adds details, quote)
Read in Reuters: UPDATE 1-Brazil economy chief slams 'excessive' bank profits, urges competition — Reuters
(Adds details, quote)
Read in Reuters: UPDATE 1-Brazil economy chief slams 'excessive' bank profits, urges competition — Reuters
MIDDLE EAST
‘Nothing short of madness’: Netanyahu slammed for gender segregation offer to ultra-Orthodox parties
Israeli PM Benjamin Netanyahu has faced fresh accusations that he is pandering to Israel’s religious right, following reports he was prepared to back gender segregation in public spaces in return for their coalition support.
Read in RT News: ‘Nothing short of madness’: Netanyahu slammed for gender segregation offer to ultra-Orthodox parties — RT News
Israeli PM Benjamin Netanyahu has faced fresh accusations that he is pandering to Israel’s religious right, following reports he was prepared to back gender segregation in public spaces in return for their coalition support.
Read in RT News: ‘Nothing short of madness’: Netanyahu slammed for gender segregation offer to ultra-Orthodox parties — RT News
French weapons sales to Saudi jumped 50 percent last year
By John Irish PARIS (Reuters) – France’s weapons sales to Saudi Arabia rose 50 pct in 2018 despite the government calling for an end to the “dirty war” in Yemen, figures released on Tuesday showed. An annual government report showed that total arms sales rose 30 percent to 9.1 billion euros in 2018, driven by...
Read in CreaWorldNews: https://apple.news/Am9A_
By John Irish PARIS (Reuters) – France’s weapons sales to Saudi Arabia rose 50 pct in 2018 despite the government calling for an end to the “dirty war” in Yemen, figures released on Tuesday showed. An annual government report showed that total arms sales rose 30 percent to 9.1 billion euros in 2018, driven by...
Read in CreaWorldNews: https://apple.news/Am9A_
Trump discovers that Middle East peace isn't as easy as he thought
Maybe putting the Middle East peace process in the hands of a young presidential son-in-law with no experience in diplomacy or foreign policy was unwise. Read more
Read in MSNBC: Trump discovers that Middle East peace isn't as easy as he thought — MSNBC
Maybe putting the Middle East peace process in the hands of a young presidential son-in-law with no experience in diplomacy or foreign policy was unwise. Read more
Read in MSNBC: Trump discovers that Middle East peace isn't as easy as he thought — MSNBC
Iran sets scene for tough OPEC meeting, opposes date change
Iran has told OPEC that it opposes delaying the oil producer group's next meeting, setting the scene for another fight with fellow members as U.S. sanctions put Tehran under unprecedented economic pressure with its oil exports down to just a trickle.
Read in Reuters: https://apple.news/
Iran has told OPEC that it opposes delaying the oil producer group's next meeting, setting the scene for another fight with fellow members as U.S. sanctions put Tehran under unprecedented economic pressure with its oil exports down to just a trickle.
Read in Reuters: https://apple.news/
China's Xi says Iran tensions worrying, calls for restraint
A rise in tensions in the Middle East owing to U.S. pressure on Iran is worrying and all parties need to exercise restraint, Chinese President Xi Jinping told Russian media ahead of a visit to the country.
Read in Reuters: China's Xi says Iran tensions worrying, calls for restraint — Reuters
A rise in tensions in the Middle East owing to U.S. pressure on Iran is worrying and all parties need to exercise restraint, Chinese President Xi Jinping told Russian media ahead of a visit to the country.
Read in Reuters: China's Xi says Iran tensions worrying, calls for restraint — Reuters
Stability in Iraq: On a knife's edge
Given the importance of a stable and democratic Iraq, what should the U.S. be doing?
Read in The Hill: Stability in Iraq: On a knife's edge — The Hill
AFRICA
Zimbabwe: Rural Teachers Withdraw Labour, Accuse Govt of Dirty Tactics
A teachers union has accused government of intimidating its members after it decided on industrial action beginning Monday. In a statement, Amalgamated Rural Teachers Union of Zimbabwe (ARTUZ) president, Obert Masaraure said his labour body's call to down tools has been well received by rural teachers. "Teachers are demanding a living wage. We want our current salaries of around 500RTGS$ to be paid in USD, as was the case before the current crisis. "The strike involves total withdrawal of labour
Read in AllAfrica: https://apple.news/
Zimbabwe: U.S.$100m for Miners Training
A UNITED KINGDOM based firm, Bestfield Consulting, has set aside US$100 million for a project that will see small-scale miners getting training and expert assistance in modern mining methods as a way of boosting the sector's output. Although the project will cut across different minerals, it will especially focus on gold where small scale miners continue to outperform their primary producing counterparts despite a heavy reliance on rudimentary mining methods. The deal was struck between
Read in AllAfrica: https://apple.news/
Zimbabwe: Govt Pins Hope On Oil Findings
Zimbabwe may start producing its own diesel and petrol within the next 10 years following encouraging exploration findings by Australian company, Invictus Energy, in the Muzarabani area, a Cabinet minister has said. Discovery of oil, which appears highly likely as evidenced by the results of extensive evaluation of existing and new data using latest technology, will be a major breakthrough for a resource dependent economy facing acute fuel shortage amid crunch foreign currency shortages. African
Read in AllAfrica: https://apple.news/A3-
Zimbabwe: Businesses Drop Local Currency for U.S. Dollars
As Zimbabwe’s economy struggles and the country faces scarce fuel supplies, some businesses are refusing to accept the ever-weakening local currency, insisting on doing business in U.S. dollars. One reason is that the local currency, known as bond notes, are not accepted outside the southern African country, making them useless for any companies that need to import goods. This spare vehicle parts seller, Tongai Madamombe, says he wants President Emmerson Mnangagwa’s government to switch to the
Read in AllAfrica: https://apple.news/
Zimbabwe's mineral-backed loans may complicate talks with creditors, IMF says
Foreign loans that use mineralsas collateral may complicate Zimbabwe's future negotiations withforeign creditors to restructure its $8.8 billion debt, anInternational Monetary Fund official said on Monday.
Read in Reuters: https://apple.news/
South Africa: Economy Contracts By 3.2 Percent in the First Quarter
Statistician General Risenga Maluleke says the country's Gross Domestic Product (GDP) contracted by 3.2% in the first quarter of 2019. Speaking at the release of the GDP results for the first quarter of 2019, Maluleke on Tuesday said this was largely due to the mining and quarrying and manufacturing industries being negative contributors to growth quarter-on-quarter. The manufacturing industry decreased by 8.8% and contributed -1.1 percentage points to the GDP. Seven of the 10 manufacturing
Read in AllAfrica: https://apple.news/
South Africa's economy plummets by most in a decade
South Africa's economy plummets by most in a decade, challenging new administration's reforms
Read in ABC News: https://apple.news/
Ethiopia and Kenya are struggling to manage debt for their Chinese-built railways
In the wake of the Belt and Road Initiative (BRI) Forum in Beijing six weeks ago, Ethiopia gained another Chinese debt-concession. China’s second-largest African borrower and prominent BRI partner in infrastructure finance also received a cancellation on all interest-free loans up to the end of 2018. This was on top of previous renegotiated extensions of...
Read in Quartz: https://apple.news/
ASIA
China warns students about risks of studying in the US
The trade turmoil between the U.S. and China is causing some big money concerns for universities as the Chinese government issues a "study abroad" alert to Chinese students in the U.S. CNBC's Robert Frank reports.
Read in CNBC: https://apple.news/
China chides Mike Pompeo after he calls on them to reveal Tiananmen Square death toll
China admonished comments made by Secretary of State Mike Pompeo about the 30th anniversary of the bloody crackdown on the Tiananmen Square protest, saying Tuesday the top U.S. diplomat spoke "out of prejudice and arrogance."
Read in Fox News: https://apple.news/
China issues travel warning for US, citing guns and harassment
China is warning its citizens of the risks associated with visiting the U.S., including harassment and the frequency of shootings.
Read in The Hill: https://apple.news/
Exclusive: Pile drive - China expected to divert outstanding U.S. soybean cargoes into reserves
China will stockpile up to 7 million tonnes of soybeans bought from the United States during an earlier truce in the trade war between the nations, two traders familiar with the matter said, rather than crush them for immediate sale as a feed ingredient.
Read in Reuters: https://apple.news/Aibvq8B_
As US and China spar, the rest of Asia risks being stuck in the middle
The US and Chinese defense chiefs were both at Asia's premier defense forum at the weekend. Yet neither acting US Defense Secretary Patrick Shanahan nor Chinese Defense Minister Gen. Wei Fenghe addressed increasing anxiety among smaller Asian states over the growing face-off between the world's two largest economies.
Read in CNN: https://apple.news/
U.S.'s Mnuchin to meet with Chinese central banker at G20 gathering
U.S. Treasury Secretary Steven Mnuchin is scheduled to meet with People's Bank of China Governor Yi Gang this weekend at a gathering of G20 finance leaders in Japan, marking the first face-to-face discussion between key U.S. and Chinese trade negotiators in nearly a month.
Read in Reuters: Mnuchin to meet with Chinese central banker at G20 gathering — Reuters
Vietnam biggest winner from first year of the US-China trade war as supply chains shift, report shows
Vietnam is the biggest winner from the shift in supply chains caused by the nearly year-long trade war between China and the United States, according to a report, as importers from the world’s two largest economies sought to avoid paying increased tariffs…
Read in South China Morning Post: Vietnam biggest winner from first year of the US-China trade war as supply chains shift, report shows — South China Morning Post
Asian shares catch Wall Street's Fed cheer; dollar remains weak
By Tomo Uetake Tokyo (Reuters) - Asian shares tracked the Wall Street rally on Wednesday after U.S. central bank comments pointed to the increasing prospects of an interest rate cut, boosting investor sentiment and pushing the dollar lower. The rebound in stock prices also prompted U.S. bond yields to step up from their recent lows, with the 10-year yield off its 21-month low hit earlier in the week. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.4%, while Japan's Nikkei
Read in Business Insider: Asian shares catch Wall Street's Fed cheer; dollar remains weak — Business Insider
EUROPE
EU defense plan has US up in arms – report
As the European Union moves towards building a common military, the US has reportedly threatened to leave its allies in a lurch if Brussels continues to insist on cutting US weapons makers out of the bargain.
UPDATE 2-Inflation's decline puts pressure back on ECB
(Adds market reaction, analyst)
Read in Reuters: https://apple.news/
France calls for EU market rules revamp after Brexit
Rules in European Union memberstates for granting trading access to foreign banks need arethink after Brexit to help prevent lenders from basingthemselves in countries with laxer supervision, France's marketswatchdog said on Tuesday.
Read in Reuters: https://apple.news/A-Sf-
EU chief executive to meet Trump advisor Kushner
U.S. President Donald Trump's senior advisor Jared Kushner will meet with the European Union's chief executive Jean-Claude Juncker on Tuesday afternoonin Brussels.
Read in Reuters: https://apple.news/A-
“Let’s do this deal”: Trump talks trade with British Prime Minister Theresa May
The PM says they should "build on" a "great relationship" in a joint news conference with President Trump.
Read in BBC News: https://apple.news/
Fox resorts to cynical spin as foreign investment in UK tumbles
The May government has been arguably the worst in British political history but one area where it has proven truly world class is in the cynical and selective use of figures that an unkind person might refer to as weasely mendacity.
Read in The Independent: https://apple.news/
CBI, ISX, Kauaihn Chatter:
CBI Update:
Click on link above for update.
The CBI for Thursday 6/6/19 did update on the indicative rates Sell Rate 1190
The currency auction is
There are no news and announcements.
Baiji: We will work to unify the salaries of all state employees to achieve justice among all
Political 10:29 - 06/06/2019
Baghdad Mawazine News
MP of the coalition of state law, Mansour al-Baiji, on Thursday, we will work to unite the salary scale of all state employees to achieve justice among all.
"There is a trend by most members of the House of Representatives to unify the salaries of all state employees, taking into account the school certificate of the law for the fairness of all employees," said Baiji in a statement received by Mawazine News.
"There is a great disparity between the salaries of state employees, which differ from one ministry to another," he said. "There are very high salaries and very few salaries for another ministry, so it does not provide a simple living for the employee.
Al-Baiji pointed out that "all state employees are equal in their rights and duties, so there must be equity for them because it is not reasonable for some ministries to pay very high salaries and other ministries will meet with simple salaries not exceeding 300,000 dinars."
He pointed out that "the appeals and demands are very many by the oppressed segment of the civil servants suffer this injustice in the salary scale, so we will work hard to approve the new salary scale in order to provide justice to all and lift injustice and injustice for all employees of the state."
Click on link above for update.
Shares Traded:
Value Traded:
ISX ended in Green
Kauaihn Chatter:dd
6-5-2019 Intel Guru MarkZ I really thought we would have our numbers by 5 Pm today...but no bad news at all...Still hearing we are on track to get started tomorrow. Hearing we have past the point of no return…There are 209 countries involved in this reset and that has never been done before...We did hear that Chase bank was called in to help WF to make sure they can meet the requirements to have all the exchanges done quickly...we really are that close...a lot of things I am not allowed to share. I still believe the dinar will be in the $4-6 range and the dong in the $2 range
6-5-2019 Newshound Guru chattels Not a lot of news [articles ?] today. I suppose the Eid al-Fitr celebration has something to do with it.
6-5-2019 Newshound Guru chattels Not a lot of news [articles ?] today. I suppose the Eid al-Fitr celebration has something to do with it.
6-5-2019 Intel Guru MarkZ [via PDK] Some Whales in the 4a group started yesterday….most have appointments tomorrow morning…we are all standing in line and we should all be excited that the box office is now open… In Europe- they expect all exchanges Thursday morning as well. ...We are seeing a lot of progress …but it is very frustrating. We really expect big news out this afternoon [Any news from your Iraq contact…] They fully expected a rate this morning in the Gazette...it didn’t happen...so that doesn’t mean the RV cant happen now…it just means it wont be published until at least Sat. which is when the next Gazette comes out. New rates can happen at any time.
6-5-2019 Intel Guru Bruce ...my understanding was they did make it known that their lower denominations were available in their ATMS. They let it be known their currency was gold backed. Yes, and it had revalued.
...Here is the thing. We still are not going to know about that or get that rate until it is really time for us to go for our exchanges. ...I am speaking about Dinar specifically. Same thing with the Dong.The Dong is going to be right up there not too far from the value of the Dinar, much closer than we all thought. ...we are this close to finalizing where we are. We are so close, and I do feel we are finally arriving at the destination we all been waiting for. I am going to say the next couple of days we should be there...I got very strong information from at least 2 sources that agree on the timing. [post 2 of 2]
6-5-2019 Intel Guru Bruce [via PinkRoses] ...again today I was given two times to look for the toll-free numbers...Upon further inspection and further information, it became clear we were not going to get them today...I am going to say this...The banks and Redemption Centers have been on high alert in what we would call Red High Alert for...for several days... It appears that the toll-free numbers coming out are the trigger...This could be everything going...Now, that is coming from pretty strong authority. ...Sunday we had some confirmations...that Iraq and Iran had both revalued their currency in country. We did see some rates on the Iraqi Dinar that were very good, but those were in country. Those are not the rates we are going to have on the front screen of our banks. The front screen rates should be a little over double what those rates were. [post 1 of 2....stay tuned]
6-5-2019 Intel Guru Footforward
1) I'm not a fan of the GCR. We didn't have to have a reset for the dinar to go down. You don't need one for the dinar to go up. I actually also believe QE [Quantitative easing] ...infinity actually helps our cause. Eventually you get a good backed currency, but there are steps.
2) 1) RV of the dinar.
2) That money gets pumped into the economy and large amounts of paper
money get sucked into the system with a low interest rate
3) You wait for your currency to get stronger and then buy gold in exchange
for Oil.
4) then you go to gold backed.
6-5-2019 Intel Guru Bruce ...my understanding was they did make it known that their lower denominations were available in their ATMS. They let it be known their currency was gold backed. Yes, and it had revalued.
...Here is the thing. We still are not going to know about that or get that rate until it is really time for us to go for our exchanges. ...I am speaking about Dinar specifically. Same thing with the Dong.The Dong is going to be right up there not too far from the value of the Dinar, much closer than we all thought. ...we are this close to finalizing where we are. We are so close, and I do feel we are finally arriving at the destination we all been waiting for. I am going to say the next couple of days we should be there...I got very strong information from at least 2 sources that agree on the timing. [post 2 of 2]
6-5-2019 Intel Guru Bruce [via PinkRoses] ...again today I was given two times to look for the toll-free numbers...Upon further inspection and further information, it became clear we were not going to get them today...I am going to say this...The banks and Redemption Centers have been on high alert in what we would call Red High Alert for...for several days... It appears that the toll-free numbers coming out are the trigger...This could be everything going...Now, that is coming from pretty strong authority. ...Sunday we had some confirmations...that Iraq and Iran had both revalued their currency in country. We did see some rates on the Iraqi Dinar that were very good, but those were in country. Those are not the rates we are going to have on the front screen of our banks. The front screen rates should be a little over double what those rates were. [post 1 of 2....stay tuned]
6-5-2019 Intel Guru Footforward
1) I'm not a fan of the GCR. We didn't have to have a reset for the dinar to go down. You don't need one for the dinar to go up. I actually also believe QE [Quantitative easing] ...infinity actually helps our cause. Eventually you get a good backed currency, but there are steps.
2) 1) RV of the dinar.
2) That money gets pumped into the economy and large amounts of paper
money get sucked into the system with a low interest rate
3) You wait for your currency to get stronger and then buy gold in exchange
for Oil.
4) then you go to gold backed.
6-5-2019 Newshound/Intel Guru Mnt Goat I hope everyone understands now that we were told in an article by parliament that the “Financial Management Law” (or the “Law of Financial Administration” as is also called) is the parliamentary law, or the vehicle, to which the CBI needs to have to work with the parliament ot orchestrate this change of the currency. This is why I keep saying to watch now for the progress of this new law in parliament and the implementation of it. Remember the finance committee told us not too long ago...that within this current session of parliament they intend to go ahead with the currency reforms. ...This is going to happen! They are working on it. [post 2 of 2]
6-5-2019 Newshound/Intel Guru Mnt Goat Article: "DIRECTOR GENERAL OF THE CENTRAL BANK EXPLAINS FUTURE PROGRESS OF REFORMING THE IRAQI DINAR" This is HUGE! Very good news! This is a WOW article and is once again telling us the project to delete the zeros (and...reinstatement we wait for) is in the control of legislation from parliament and not the central government of the prime minister, as is why it was stopped in 2012 under the corruption of Nori al-Maliki. [post 1 of 2....stay tuned]
6-5-2019 Newshound/Intel Guru Mnt Goat Article: "DIRECTOR GENERAL OF THE CENTRAL BANK EXPLAINS FUTURE PROGRESS OF REFORMING THE IRAQI DINAR" This is HUGE! Very good news! This is a WOW article and is once again telling us the project to delete the zeros (and...reinstatement we wait for) is in the control of legislation from parliament and not the central government of the prime minister, as is why it was stopped in 2012 under the corruption of Nori al-Maliki. [post 1 of 2....stay tuned]
Elmer:
Not in today
Artmeister:
Not in today
Catnip:
*************
ARTICLE 1 (from PM Mahdi's website)
At the time this report was submitted, there are no new articles posted on PM Mahdi's website.
*************
ARTICLE 2 (from Government of Iraq twitter account)
Government of Iraq - الحكومة العراقيةVerified account @IraqiGovt 6-5-2019 around 9 am Eastern
Malls, parks and shops are busy across Iraq as Iraqis mark Eid Al-Fitr and celebrate this joyous occasion with their families and friends. We wish them all a blessed #Eid.
*************
ARTICLE 3
Sadr leads prayers for Eid al-Fitr and renews his call for reform
2019/6/5 16:00
[Najaf - where]
On Wednesday, Muqtada al-Sadr renewed his call for reform, calling some of the corrupt people not responding to his call for arrogance and misguidance.
Al-Sadr said in a sermon of the second Eid prayer in which the worshipers of the mosque in Kufa said, "O nation, I have a good reformer, and I invite you to save Iraq." "We are not responding to his call and do not hold corrupt people accountable despite his constant calls, day and night, in secret and ignorance." Those calls are not aversion and cunning and do not hope for Iraq and dignity. "
Sadr prayed to the Almighty to save Iraq from the corrupt and "forgive the sins of those who entered the house of reform of reformers and reformers."
*************
ARTICLE 4
Hakim calls for activating the constitutional articles in the organization of the relationship between Baghdad and Kurdistan
2019/6/5 15:54
[Baghdad-where]
The head of the Coalition for Reform and Reconstruction, Mr. Ammar al-Hakim, called on Wednesday to activate the constitutional articles in the regulation of the relationship between the federal government and Kurdistan and the fair handling of the oil file and the disputed areas.
Al-Hakim stressed in the Eid prayer sermon in Baghdad that "the need to accelerate the passage of the provincial elections law after its amendment, which contributes to the cohesion of political forces and helps to form broad alliances and preserve the election of the candidate and achieve the principle of justice in distribution and selection."
He stressed the importance of concluding a political and social contract signed by all political and tribal forces, according to which the state will be obliged to limit its arms to the state and not replace itself with authority and law. Freedom of expression should not be misused to harm the prestige of the state. Religious, cultural, media, academic and other. "
"Combating corruption is a national priority that can not be tolerated," Hakim said. "We can not see a real development for the country's economy without accounting for the corrupt.
*************
ARTICLE 5
Starting next Ramadan .. Clock tower in Makkah inquires Ahla
2019/6/5 15:57
[Follow-up]
According to Saudi press reports, the kingdom will adopt the status of the clock tower in Mecca as an Islamic observatory.
"As of next Ramadan, the center of the clock tower in Mecca will be an Islamic observatory for the citizens," said Yaseen Maliki, supervisor of the King Abdullah Bin Abdul Aziz Chair for Moon Observations and Moon Research, who oversees all scientific matters related to the status of the clock tower. Monitoring the crescent of Ramadan and Shawwal and other months, as it includes a global binoculars.
"The center is unique and has the most accurate timing taken from the center itself, which proves that the Kingdom is leading the Islamic world with the subject of time and time," Meliki told the Saudi daily Sabq.
He added: "It will contribute with the world as a whole from global space agencies such as the American and European universities and the most powerful sites in international universities. It will be the first observatory for the Islamic world. The two holy days of Ramadan and next year will be monitored. Al Mukarramah
No comments:
Post a Comment