Markets:
dow down ten 29034 sp .25 ndx in the green by 6.5
PRecious Metals:
GOld up a bit to 1572 Silver pretty much the same but green at 17.76 Copper 255.75 Platinum up 976.50
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1166.5000 |  1221.3000 | 1192.7000 | 1192.7000 | 1192.7000 |  0.0000 | 06:09 |
| USD/VND | 22898.2900 | 23628.9700 | 23237.5300 | 23237.5300 | 23237.5300 | 0.0000 | 06:09 |
| USD/CNY | 6.9821 | 6.9841 | 7.0011 | 6.9770 | 7.0006 | -0.0186 | 06:44 |
| USD/KWD | 0.3041 | 0.3051 | 0.3046 | 0.3041 | 0.3041 | 0.0005 | 06:29 |
| GBP/USD | 1.2932 | 1.2933 | 1.2936 | 1.2872 | 1.2891 | 0.0041 | 06:48 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 97.5000 | 06:03 |
| USD/IDR | 13729.0000 | 13733.0000 | 13725.0000 | 13666.0000 | 13679.0000 | 46.0000 | 06:46 |
Things in the News...
wsj article
Iraqi Articles:
The search for a way out of the budget
The 2020 budget law is now linked to a series of time-related timelines related to the consensus on the ministerial cab of the new government, and then a vote in the House of Representatives, which may mean more time and we are now in the second month of the fiscal year, which will have a negative impact on the plan Finance aimed at rotating the macroeconomic wheel in achieving its objectives.
If the operational part depends on the authority of the caretaker government, in exchange of 1 to 12 according to Article 13 of the Financial Management Act No. 6 of 2019, the disbursement in the investment segment of the budget may be from the annual allocation of continuous investment projects included in their allocations during The previous fiscal year according to the new law, and in order to make it easier for the caretaker government to avoid continuing projects from extinction, and to expose them to losses under the request of the relevant ministries to the Council of Ministers, which was not present in the Law on Financial Management and Public Debt No. 95 of 2004, which It was put by the civil administrator Paul Bremer, which lasted until August last year, when the Iraqi chronicle rout of the new law was published.
However, investment expenditures on new projects will remain idle unless the caretaker government submits a request that the existing authorities can find a legal way out that would allow the current House of Representatives to vote on the adoption of the financial statements for the previous year as a trophy for this year's financial statements, in order to The public interest and not to disrupt the interests of the people, and avoid the risk of this disruption, which could have repercussions on the movement of the market as a result of the economic contraction that we are indispensable, and in this direction there is a legal basis based on what is stated in the new financial management law, which "considers the final financial statements For the previous year, the previous year was essentially the basis for this year's financial statements once they were passed in the House of Representatives, so it could be easy for the current parliament to push for the conduct of the current government and spare the country further losses that could result from delaying the passage of this year's budget law.
Since the general laws contain a number of rules aimed at the public interest, and based on the legal rule "where there is no interest and no possibility to act", the search for legal exits that benefit the interests of the country and the people at this critical stage is a national act of excellence, how is the order and the texts The law allows those who have a chance to spare the country further financial losses, in a country where the budget accounts for about 45 percent of GDP.
From the data we are witnessing, waiting for the birth of the 2020 budget law and relying on the idea of not acting in the search for legal exits depending on the interest of the country, will necessarily lead to more negative repercussions on the overall landscape, which will hold those responsible for this to seek the search. About these exits.
Parliamentary committee: development of the banking system will
encourage investment
The Parliamentary Economic and Investment Committee believes that the development of the banking system and administrative and customs transactions will bring foreign companies to invest in Iraq.
"The most important steps that should be taken to bring in sober foreign companies in the country is to work on the development of the system as well as administrative and customs dealings," said Committee member Nada Shaker.
"The reluctance of foreign companies to operate in Iraq is caused by administrative corruption, and the investment law contains some loopholes that hinder investment in the country," she said.
She explained that its committee, together with the public and private sectors, is seeking to develop a mechanism that attracts investment companies to work In Iraq."
Abdul Mahdi's advisor: China will need Iraqi oil until 2060
The Prime Minister’s Advisor for Economic Affairs, Mazhar Muhammad Salih, confirmed on Monday that the experts ’estimates indicate that China will need Iraqi oil until the year 2060, while he indicated that the Chinese agreement covers many areas.
Saleh said in press statements that "the agreement with the major Chinese companies includes many fields, including dams, water, agriculture and infrastructure, and these companies will provide thousands of job opportunities for the Iraqis."
He explained, “Iraq and China signed the Memorandum of Understanding, as the Iraqi Ministry of Finance was the party signed by Iraq, the Chinese Warranty Agency on 11-5-2018, and the Cabinet approved this, and this agreement was followed by the signing of a supplement in exchange for the export of 100,000 Iraqi oil barrels. To China. ”
Saleh pointed out that "Iraqi oil exports to China amount to 22 percent, and China is the number one importer of oil from Iraq, so Iraq is a true partner to China," stressing that "China needs Iraqi oil until 2060, according to an expert assessment.
Shabandar: Al-Sadr destroyed the demonstrations .. This is the reason for my attack on the demonstrators
Iraqi politician Izzat al-Shabandar affirmed that the leader of the Sadrist movement, Muqtada al-Sadr, broke into the demonstrations and destroyed them, he said, noting that the protests were penetrated inside and outside.
Shabandar said in an interview with the new Arab followed by "leaks news" that "the demonstrations were penetrated inside and outside. The internal breakthrough is represented by the "Sadrist movement" that engaged in and destroyed the protests.
He added, "This current is one of the most important power-sharing partners in Iraq, but because of the simplicity of the protesters' thinking, the Sadrists who invoked to protect the protests have fallen short of them, and the Blue Hat group is killing protesters and destroying their efforts."
He continued: "As for the external penetration, it is an American-Western par excellence, without this means that there are no real demonstrators in the arenas, especially those who chanted against the United States and Iran together, and did not take sides on the expense of another, and these are the real popular trend, But he is the weakest, so when I attacked the demonstrators, the aim was to rationalize their movement.
Study: Eating By Hand Makes It Delicious
link
American researchers found that eating by hand makes it taste better, stressing the need to be careful, as it has also been proven that eating by hand stimulates us to overeat.
American researchers found that eating by hand makes it taste better, stressing the need to be careful, as it has also been proven that eating by hand stimulates us to overeat.
The researchers, who reached these findings through their studies at Stevens University in New York City, said that the ability to touch food enhances sensory concepts of the brain. This means that even before food reaches the mouth, touching it will make the brain think that it is tastier and more fulfilling than it would have been if you had used the cutlery. In their study, the researchers asked 45 volunteers to look at a cube of Monster cheese before they caught it and then ate it. Half of the volunteers grabbed the food with a cocktail stick, while the other half grabbed them with their fingers. The volunteers, who usually enjoy a high level of self-control over what they eat, said they found the cheese tastier when holding it by hand.
In a second experiment, 145 university students were divided into two groups. The first group was told that they should be more careful about their diet and reduce the amount of foods they eat significantly, and then have an opportunity to be able to achieve their fitness and health goals. The second group was asked to worry less about her weight and allow herself to indulge in delicious food to enjoy life more.
Professor Adriana Madzharov, lead study researcher, commented on the results of these experiments, saying, "This effect that we discovered to eat by hand is an interesting effect. Although it is a slight improvement, but it can change the way people evaluate your product, and it has been proven to us that people who always control their food consumption by touching food directly may stimulate an enhanced sensory response, which makes food more attractive.
BANKS/BANKING/CREDIT
Cultural Transformation Is Needed Before Traditional Banks Can Go Digital, Says Starling Bank Executive
Traditional banks and other financial institutions need to go through a cultural transformation before they can successfully undergo a digital transformation, according to the chief technology advocate at Starling Bank, whose statements came during a recent panel discussion. The recent debate, which was an initiative... Read More The post Cultural Transformation Is Needed Before Traditional Banks Can Go Digital, Says Starling Bank Executive appeared first on Crowdfund Insider.
Read in Crowdfund Insider: https://apple.news/
Traditional banks and other financial institutions need to go through a cultural transformation before they can successfully undergo a digital transformation, according to the chief technology advocate at Starling Bank, whose statements came during a recent panel discussion. The recent debate, which was an initiative... Read More The post Cultural Transformation Is Needed Before Traditional Banks Can Go Digital, Says Starling Bank Executive appeared first on Crowdfund Insider.
Read in Crowdfund Insider: https://apple.news/
Traditional banks and other financial institutions need to go through a cultural transformation before they can successfully undergo a digital transformation, according to the chief technology advocate at Starling Bank, whose statements came during a recent panel discussion.
The recent debate, which was an initiative supported by widely-used messaging service Slack, was held on February 6 in London. It covered several 21st century developments including ongoing digital transformation efforts, the future of work and jobs, and how professionals will communicate and work cooperatively on projects.
Slack’s panel included commentary from Stuart Templeton, head of Slack’s UK division, Jason Maude, chief technology advocate at Starling Bank, Flora Coleman, head of government relations at TransferWise,
Indonesia’s Currency Reserves Soar to Near All-Time Highs
Indonesia's offshore currency reserves rose to near all-time records after the country generated around $3 billion from global equity sales in January, sources with knowledge of the matter, disclosed.
Read in Business Times: https://apple.news/
Indonesia's offshore currency reserves rose to near all-time records after the country generated around $3 billion from global equity sales in January, sources with knowledge of the matter, disclosed.
Read in Business Times: https://apple.news/
Indonesia Investments' Research Report Released |
CBI, ISX,Dinar Guru:
CBI Update:
Click on the link above for the latest update.
The CBI for Monday Feb 10th rate is 1190
The currency auction total sales amount 225,375,720 .
ISX Update: At my last checking
ended in RED
value traded
11,739,883,266
Shares traded
2,572,766,888
Dinar Guru Chatter:
2-9-2020 Intel Guru Okie_Oil_Man Tonight may be interesting and tomorrow may really be interesting…. A Zurich contact that I had said Tues, Wed may finally be our time…As I understand it tonight and tomorrow morning there is a possibility (key word) we may get 800 numbers. That is the last I got from “The source” who has the authority to make this happen.
2-9-2020 Intel Guru Footforward ...I'm now aware that it seems Sadr is on the run and Allawi is actually winning people over. AND there will be a full cabinet sat with ZERO Iranian influence. As a matter of fact, several outlets are reporting that Sadr (who is an Iranian puppet) is actually in Iran right now and that Allawi is actually meeting with the people of Iraq to hear their concerns and make sure they are addressed. For real. This is not fake news!
2-9-2020 Newshound Guru Chattels Allawi presents his cabinet in two weeks, and its names will only be announced in Parliament. Constitutionally speaking, Allawi's 30 days to form a government began on February 2. Not that in Iraq constitutional deadlines or red-lines mean anything. But, two weeks from today will be February 24 or only a week left under the constitution to form a government. Hardly a meteoric pace. Assuming it is done timely which would be a change for Iraq.
2-9-2020 Newshound Gruu Kaperoni [Guru] Francis Albert You should go back and read the documentation or articles on what is stated from the CBI and other sources. They have made it clear that Iraq is primarily a physical currency country. Yes, they are trying to implement electronic money but...the cbi has said over and over there is in excess of 42 trillion dinar (chunky)... because it is in country and in the homes of citizens (under mattresses, pillows etc.) it must be accounted for. You cannot RV anywhere near a 1 to 1 rate with that much physical money in circulation as it would have to be accounted for. Heck, Iraq's total underground wealth is only 15-16 trillion dollars. You think they could afford 42 trillion? lol If they go to a 1 to 1 rate overnight it will be a LOP. The only other solution is to build a market economy, diversify the resources and gradually raise the value over time. Then then can collect these notes are citizens deposit them in banks as well as reduce pressure created on the financial system as a result of significant foreign investment. [Reference Guru Francis Albert posts 2-8-2020]
2-9-2020 Newshound/Intel Guru Mnt Goat ...I am hearing lots of chatter about elections in six months...This is NOT going to happen and here is why. The Iraqi legal expert, Ali al-Tamimi, said on Wednesday (February 05, 2020) that the Iraqi constitution did not include an article or a paragraph called "an interim government," noting that the Prime Minister-designate Muhammad Tawfiq Allawi, would continue to run the government until 2022. ...sometimes what you are seeing in the surface is not the entire story...TRUST ME there is a plan and they are executing it. We will see our reinstatement sooner rather than later.
2-9-2020 Newshound/Intel Guru Francis Albert [...bottom line Iraq can make monitary changes when ever they want I believe it is and has been a security issue holding them back.] It feels that way to me also... I "believe" (no proof or secret sources), that the CBI has been ready to do something significant. (not sure what this will be), but something, and as things cool down and the Iran 's influence decreases...something will happen.
2-9-2020 Intel Guru Footforward ...I'm now aware that it seems Sadr is on the run and Allawi is actually winning people over. AND there will be a full cabinet sat with ZERO Iranian influence. As a matter of fact, several outlets are reporting that Sadr (who is an Iranian puppet) is actually in Iran right now and that Allawi is actually meeting with the people of Iraq to hear their concerns and make sure they are addressed. For real. This is not fake news!
2-9-2020 Newshound Guru Chattels Allawi presents his cabinet in two weeks, and its names will only be announced in Parliament. Constitutionally speaking, Allawi's 30 days to form a government began on February 2. Not that in Iraq constitutional deadlines or red-lines mean anything. But, two weeks from today will be February 24 or only a week left under the constitution to form a government. Hardly a meteoric pace. Assuming it is done timely which would be a change for Iraq.
2-9-2020 Newshound Gruu Kaperoni [Guru] Francis Albert You should go back and read the documentation or articles on what is stated from the CBI and other sources. They have made it clear that Iraq is primarily a physical currency country. Yes, they are trying to implement electronic money but...the cbi has said over and over there is in excess of 42 trillion dinar (chunky)... because it is in country and in the homes of citizens (under mattresses, pillows etc.) it must be accounted for. You cannot RV anywhere near a 1 to 1 rate with that much physical money in circulation as it would have to be accounted for. Heck, Iraq's total underground wealth is only 15-16 trillion dollars. You think they could afford 42 trillion? lol If they go to a 1 to 1 rate overnight it will be a LOP. The only other solution is to build a market economy, diversify the resources and gradually raise the value over time. Then then can collect these notes are citizens deposit them in banks as well as reduce pressure created on the financial system as a result of significant foreign investment. [Reference Guru Francis Albert posts 2-8-2020]
2-9-2020 Newshound/Intel Guru Mnt Goat ...I am hearing lots of chatter about elections in six months...This is NOT going to happen and here is why. The Iraqi legal expert, Ali al-Tamimi, said on Wednesday (February 05, 2020) that the Iraqi constitution did not include an article or a paragraph called "an interim government," noting that the Prime Minister-designate Muhammad Tawfiq Allawi, would continue to run the government until 2022. ...sometimes what you are seeing in the surface is not the entire story...TRUST ME there is a plan and they are executing it. We will see our reinstatement sooner rather than later.
2-9-2020 Newshound/Intel Guru Francis Albert [...bottom line Iraq can make monitary changes when ever they want I believe it is and has been a security issue holding them back.] It feels that way to me also... I "believe" (no proof or secret sources), that the CBI has been ready to do something significant. (not sure what this will be), but something, and as things cool down and the Iran 's influence decreases...something will happen.
Catnip's Corner:
ARTICLE 1 (from PM Mahdi's website; posted only on Arabic side, not on English side)
Prime Minister Adel Abdul-Mahdi sends a message of solidarity to the President of the People's Republic of China and the President of the State Council
Prime Minister Adel Abdul-Mahdi sent a telegram to the President of the People's Republic of China Xi Jinping and Prime Minister Li Keqiang, in his name and on behalf of the Iraqi people, expressed his solidarity with the leadership and people of China in facing the Corona virus, and affirming his high confidence in China's ability To overcome this crisis and its success in taking measures that limit its danger to the friendly Chinese people, adding that Iraq stands with the Republic of China and the rest of the countries and the International Health Organization to support efforts to prevent the spread of this disease and to provide effective treatment to eliminate it.
The Prime Minister also affirmed his pride in the Iraqi-Chinese relations and the desire to increase cooperation to serve the interests of the two friendly peoples and enhance opportunities for growth and prosperity.
Media office of the Prime Minister
February 9-2020
*************
ARTICLE 2 (from Government of Iraq twitter account)
At the time this report was submitted, there are no new tweets posted on the Government of Iraq twitter account.
*************
ARTICLE 3
Allawi presents his cabinet in two weeks, and its names will only be announced in Parliament
9/2/2020 13:25
[Baghdad-where]
An Iraqi deputy confirmed that the Prime Minister-designate Muhammad Tawfiq Allawi intends to present a ministerial formation free from partisan quotas within 10 to 15 days.
MP Hussein Arab said, "Allawi discussed with all political blocs that the government formation is free of partisan quotas, and that there is a green light to move the government according to what the designated Prime Minister desires," adding that he could announce his cabinet formation within 10 to 15 days.
He explained that "the next formation will consist of 23 ministers, the same number of ministers of the resigned government, and that the House of Representatives is free to accept or reject any minister who does not have the level of responsibility or ability required to lead a ministry."
He stressed that "Allawi chose a large part of the government formation, and there are only minor things left to complete it, but he will not announce any name until they are presented to the House of Representatives," stressing the need to scrutinize the options for the possibility of rejecting some options by the House of Representatives.
Today, Iraqi provinces are witnessing preparations to escalate the protest demonstrations to demand the speedy formation of a new government away from partisan quotas, as well as calling for stopping the targeting of demonstrators by members of the Shiite leader Muqtada al-Sadr, who aim to break up the demonstrations by force.
He explained that "the next formation will consist of 23 ministers, the same number of ministers of the resigned government, and that the House of Representatives is free to accept or reject any minister who does not have the level of responsibility or ability required to lead a ministry."
He stressed that "Allawi chose a large part of the government formation, and there are only minor things left to complete it, but he will not announce any name until they are presented to the House of Representatives," stressing the need to scrutinize the options for the possibility of rejecting some options by the House of Representatives.
Today, Iraqi provinces are witnessing preparations to escalate the protest demonstrations to demand the speedy formation of a new government away from partisan quotas, as well as calling for stopping the targeting of demonstrators by members of the Shiite leader Muqtada al-Sadr, who aim to break up the demonstrations by force.
*************
ARTICLE 4
The facts publish a decree assigning Allawi to begin the countdown to present his government
9/2/2020 16:35
[Baghdad-Eni
The new issue of the Iraqi Al-Waqa'iq newspaper was issued with the number (4576), which included a number of republican decrees, one of which was to appoint Muhammad Tawfiq Allawi to form the Council of Ministers.
The new issue of the Iraqi Al-Waqa'iq newspaper was issued with the number [4576], which included a number of Republican decrees, one of which was to appoint Muhammad Tawfiq Allawi to form the Council of Ministers.
Haifa Shukr Mahmoud, Director General of the Iraqi Chronicle, said in a statement to the Ministry of Justice, "The new issue of Al-Waqa’i newspaper included three republican decrees, the first of the number (5) for the year 2020, regarding the assignment of Azad Hamid Shafi Doss, Mahmoud Jawad Hussain Khaji and Wassan Abdel Hussein Falih Hassan as deputies to the parliament." Representatives for the fourth electoral cycle, and the second republican decree No. (6) for the year 2020 included the assignment of Rasha Yahya Abis Hani as a deputy in the House of Representatives for the fourth electoral cycle.
She added, "The third republican decree No. (7) for the year 2020 includes the assignment of Muhammad Tawfiq Allawi to form the cabinet and nominate his cabinet members and present them to the House of Representatives to gain confidence within a maximum period of thirty days from the date of the issuance of the decree."
The President of the Republic, Barham Salih, had commissioned on February 1, Muhammad Tawfiq Allawi, to head the cabinet and form a transitional government to succeed resigned Adel Abdul-Mahdi, after the political forces agreed to nominate him.
Allawi addressed the Iraqi people on the occasion of his assignment, pledging to work diligently to hold early elections, hand over the corrupt to the judiciary, and commit to providing job opportunities for citizens, fighting corruption and dissolving economic committees, forming a government away from sectarian quotas, representing all spectra, and involving the competent in forming the government and rejecting the candidates of political forces.
*************
ARTICLE 5
Deputy for the Kurdish blocs, proposing that they give up all executive positions in the Allawi government and be satisfied with a coordinator with them
9/2/2020 19:00
[Baghdad-where]
Representative Hoshyar Abdullah proposed to the Kurdish political blocs to give up all executive positions in the government of Muhammad Tawfiq Allawi, and only appoint a coordinator between the federal government and the Kurdistan Regional Government, who will open the outstanding files between Baghdad and Erbil, the most important of which is the distribution of power and wealth and resolve the issue of the disputed areas according to the articles of the Iraqi constitution .
He said in a press statement: "The Kurds' relinquishment of executive positions in the federal government must be met with serious steps and tireless work to open all outstanding files, especially the constitutional rights of the people of Kurdistan and resolve the problem of the disputed areas and the issue of the distribution of wealth and power according to the articles of the Iraqi constitution, and the issue of peshmerga salaries and problems The other sticking. "
Abdullah added: "The resolution of these files for the citizens of the Kurdistan region is much more important than the participation of the Kurdish political blocs in executive positions in the federal government, and the time has come for the region's participation in the federal government to be of an institutional rather than partisan nature, and the government should form a new institutional after Past experiences have proven useless in forming a party government that reproduces past failures and does not meet the aspirations of the people.
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