The Markets:
Asian markets closed down
NIK down 4.51% HSI down .74% SHANG .60%
all our futures are red at 4:45 am
DOW futures in red .98% at 20814 SNP red 1.39% NDX red .90%
uk currently trading in red about 2% plus or minus
Precious Metals:
oil is about 27 per Bloomberg
4:45 am Cali time
Gold green at 1619 Silver red at 14.73 Copper red at 218 Platinum red at 725
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1188.0000 | 1194.0000 | 1194.8000 | 1194.2000 | 1194.8000 |  3.4000 | 07:57 |
| USD/VND | 23310.9600 | 24042.1900 | 23650.4500 | 23486.2200 | 23486.2200 | 145.5900 | 07:12 |
| USD/CNY |  7.0721 | 7.0741 | 7.1197 | 7.0721 | 7.1132 | -0.0410 | 08:26 |
| USD/KWD | 0.3147 | 0.3152 | 0.3149 | 0.3149 | 0.3149 | -0.0002 | 07:57 |
| GBP/USD | 1.2009 | 1.2010 | 1.2029 | 1.1774 | 1.1878 | 0.0131 | 08:28 |
| USD/IRR | 0.0000 | 0.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 97.5000 | 00:00 |
| USD/IDR | 16092.0000 | 16127.0000 | 16451.0000 | 16060.0000 | 16062.0000 | 29.0000 | 08:28 |
Things in the News:
Distressed Debt Balloons to Almost $1 Trillion, Nears 2008 Peak...Governors Say Massive Federal Bailout Falls Short...
Economies Already Look Totally Different From Pre-Virus Age...
Iraqi Articles:
Al-Zrafi on Foreign Policy: We will adopt the Iraq principle first
Prime Minister-designate, Adnan Al-Zarfi, revealed, on Thursday, the features of his foreign policy in the event of passing his cabinet in the House of Representatives.
"We will adopt an external policy based on the principle of (Iraq first) and stay away from regional and international conflicts that make Iraq an arena for settling accounts, and the highest Iraqi interests are the compass that determines the direction of that policy," Al-Zrafi said in a Twitter post seen by Mawazine News.
He added, "We seek to open up to all the neighboring countries, the region, and the general international community, without prejudice to the terms and requirements of preserving the independence and sovereignty of Iraq."
"We will adopt an external policy based on the principle of (Iraq first) and stay away from regional and international conflicts that make Iraq an arena for settling accounts, and the highest Iraqi interests are the compass that determines the direction of that policy," Al-Zrafi said in a Twitter post seen by Mawazine News.
He added, "We seek to open up to all the neighboring countries, the region, and the general international community, without prejudice to the terms and requirements of preserving the independence and sovereignty of Iraq."
The Council of Ministers decides to extend the curfew until April 11
The Council of Ministers decided, on Thursday, to extend the curfew until April 11.
"The Cabinet decided to extend the curfew until the date 11-4-2020," the media office of the Prime Minister said, in a statement received by Mawazine News.
This comes to reduce the outbreak of the Corona epidemic in Iraq, and the ban was scheduled to end next Saturday.
"The Cabinet decided to extend the curfew until the date 11-4-2020," the media office of the Prime Minister said, in a statement received by Mawazine News.
This comes to reduce the outbreak of the Corona epidemic in Iraq, and the ban was scheduled to end next Saturday.
Parliamentary Finance: Payroll Insurance Will Be Made Through Funds Circulation And The Central Reserve
The Parliamentary Finance Committee revealed today, Thursday, the sources of insurance for the salaries of employees and retirees.
Member of the Committee, Deputy Ahmed Al-Saffar said in a statement that Al-Ahd News followed, “The salaries of employees and retirees are secured for this year because of the funds recycled from times that witnessed an increase in oil prices and also the presence of reserves in the central bank, in addition to a surplus of ministries that did not exhaust their budgets Pointing out that "the allocations will also be used to tackle the Corona crisis during the next two weeks, based on the intensification of efforts and funds."
Al-Saffar added that "the central bank must take care of the poor who are not working now due to the curfew and must find a quick solution and financial support for them, because there are businesses that depend on daily wages."
Rafidain Bank: Our branches are open to pay the salaries of state employees
The Rafidain Bank confirmed that its branches in Baghdad and the provinces are open to receive and pay the salaries of employees of state departments through electronic payment tools.
The media office of the bank said in a statement that the salaries of many of the endemic state departments have been raised with the bank during the past two days and for mastercard card holders.
Noting that the bank continues to provide its branches with the necessary funds to accomplish the process of disbursing salaries and distributing them to employees easily and without any obstacles
Al-Zorfi: I seek balanced relations for Iraq with countries in the region and the world
On Wednesday, the designated Iraqi Prime Minister, Adnan Al-Zarfi, continued his consultations with the political blocs and forces to form the new government, stressing that he looked forward to building balanced relations with all countries of the region, as well as with regional and international powers, while the "victory" coalition led by the former prime minister Haider al-Abadi, that Al-Zarfi could form his government soon, at a time when the Al-Fateh bloc led by Hadi al-Amiri confirmed its position by rejecting the mechanism through which Al-Zarfi was assigned, and advised him again, to reject the assignment.
Al-Zorfi said, “What concerns me primarily is building balanced relations with all countries of the region, whether they are Arab, as the surrounding of Iraq is Arab, so there is an Islamic environment for Iraq, and in addition to that I will strive to establish balanced international relations with regional and international powers, on The base of common interests, with priority for our national interests. ” He added that he «began his consultations to form a government whose mission will be for only one year, during which preparations are made for early elections».
On the other hand, the head of the "Al-Fath" bloc, Muhammad al-Ghabban, affirmed that "his bloc's position is consistent with the rejection of the mechanism mandated by al-Zarfi, which consisted in overcoming President Barham Salih for the constitution, and the prevailing political norms since 2003." He added, "We recommend Al-Zrafi to apologize for the assignment, so that he does not cause the loss of the majority's right."
However, the deputy from the "Victory" coalition, Falah Al-Khafaji, revealed "the presence of positive dialogues with the opposing blocs", suggesting that "the dialogues with these blocs will lead to positive results", stressing that "the formation of the government will be soon."
On the other hand, the Parliamentary Parliament member of the Kurdistan Future Bloc, Sarkot Shams al-Din, revealed that “the Kurdish group made up of representatives of all the Kurdish parties, with the exception of the two Democratic Parties and the National Union, continues its dialogues with the Prime Minister-designate, and discussions focused on adherence to the provisions of the constitution, including Article 140, commitment to the financial entitlements of the citizens of the region, and looking at them as Iraqis away from political and oil conflicts, ”stating that“ the Kurdish and Democratic parties and the National Union are conducting private discussions with Al-Zarfi, and may be focused on obtaining gains in the government H".
For his part, a member of the Kurdistan Democratic Party, Imad Bajlan, said, “The Kurdish forces have no conditions for any candidate, but we have clear constitutional rights, known according to the constitution, the privacy of the region as a constitutional entity, and whoever pledges to protect those rights and privacy, we will be interacting with it positive".
3 rockets landed in the Green Zone
A security source said, at dawn today, Thursday, that a number of rockets had landed in the Green Zone, in central Baghdad.
The source said, "3 rockets landed inside the Green Zone, without any damage."
The sirens sounded inside the American embassy, after hearing loud explosions, inside the Green Zone.
CBI, ISX,Dinar Guru:
CBI Update: IT SEEMS the CLOSURES have BEEN Extended WE SHALL SEE
Click on the link above for the latest update.
The CBI for rate is.
The currency auction total sales amount $ 0. No Auction today
ISX Update: At my last checking
Failure to organize trading sessions 17 / 3-2020 / 3/23
it's a document in Arabic but these are the words
Iraq Stock Exchange Iraq market for ur number: Date: \ ۷/۱۹ / C To the Securities Commission What is the lack of organization of trading sessions 3/17 - 3/23/2020
We give you our best regards. . .
Based on the decisions of the Health Crisis Cell dated 3/15/2020.
The Board of Governors decided not to organize trading sessions and stop trading activity in securities as of Tuesday 3/17/2020 to enable brokerage firms and investors to complete financial settlements between them and the clearing bank until Monday. 3/23/2020 The trading session after suspension is organized on Tuesday 3/23/2020 according to instructions and rules with appreciation CURFEW EXTENDED to APRIL 11th
Taha Ahmed Abdel Salam Duran Soran
Shares Traded: N/A
Value Traded: N/A
3-26-2020 Newshound Guru Adam Montana We've been through a bit of a rollercoaster over the last few weeks and months, between the Kung Flu and the (old/new/quit/appointed/
3-26-2020 Newshound Guru Pimpy ...the PM just got the green light to establish his cabinet. And that came from the big block - the pro Iranian people...
3-26-2020 Newshound Guru Pimpy ...the PM just got the green light to establish his cabinet. And that came from the big block - the pro Iranian people...
3-25-2020 Intel Guru Bruce [via WiserNow] ...First of all we got to talk about what’s going on with the congress – we know we have a bill that should have been passed today... and yes yes it does have something to do with our start...President Trump...wants this done and you guys know this will go during this COVID-19 situation...we are looking very good based on the information... I’m thinking we’ve got a possibility of getting notified in the afternoon but more than likely situation for Thursday – that is the latest update I have received...
3-25-2020 Newshound Guru Breitling ...we're looking for a long term trend and here we are. I told you guys it was going to be $26 per barrel. It's going to get there and it's going to be there a while. That's going to put pressure on Iraq to add value to their currency...
3-25-2020 Newshound Guru Jeff ...the whole rate change itself is about a 4-week process...the reason why we saw the country of Iraq shut down their financial markets is because they did start the rate change process that week. Again it's a process. It's not just an overnight flip of a switch. They actually started the rate change last week - which is roughly week 1...we're now in week 2 so we have about two more weeks. That would take us to a possible rate change period of somewhere around the weekend of April 12th which is Easter Sunday...
3-25-2020 Newshound Guru Pimpy ...I believe everything is ready to happen. They're just gonna come out and announce whatever rate change it is. They're just gonna announce it. It's gonna happen instantly. Now that doesn't mean they won't have what's called a manage rate or "dirty float" and that is they're gonna manage it because if it's too much of a shock to the economy...
3-25-2020 Newshound Guru Breitling Question: "Is there any indication of how much Iraqi dinar the US government owns? Can you comment on the viability of the revaluation of the dinar to fund the stimulus package...?" The United States doesn't need money from anybody. Trump is trying to lower the value of the dollar so we can compete correctly. How do you do that? You have to inject money into the economy...we don't need Iraq's money. The government doesn't. I do. I'm speculating. But it doesn't work that way. You're putting heavy dinar goggles on. Our country is going to function whether Iraq exists or not...it's a good question but we don't need them for a stimulus package...
3-25-2020 Intel Guru MarkZ I definitely believe we are watching it [RV] roll out right now… [Okie was looking to land his plane today….] I wish I was as confident as he is and hope its true.
3-25-2020 Intel Guru Frank26 ...a currency swap was actually recently done with the Central Bank of Iraq and banks of the United States of America and other banks all around the world. This process is long. They've been working on it for a long time. Over a year. I thought they'd be ready this past January. No, they failed again and maybe it was because of the political B.S. of Iran. But we got that taken care of - stability and security. And we stopped the auctions and using the American dollar. The CBI and US banks made swaps. Around the middle part of December last year...this scenario is pressure because it's leading the IQD to the point of raising the value of the currency. It's the only solution for both the CBI and the GOI to pay their bills and build Iraq...They're running out of American dollars...oil is not selling at a very good price right now putting pressure on the CBI and the GOI to raise the value...it's all pointing in one direction...
3-25-2020 Newshound/Intel Guru Mnt Goat Article: "THE IRAQI PRESIDENT TRANSMITS THREE AMERICAN DEMANDS TO ADNAN AL-ZARFI" Quote: "...the American demands are summarized in three axes: First: Reducing the role of the popular crowd (Iranian backed) and keeping it away from influencing the Iraqi political decision. Second: to keep the Iranian influence from penetrating into the political and economic life of Iraq through frank and direct negotiations with Iran about that. Third: Opening up to the Arab and regional ocean countries away from Iranian dictates." So we are seeing the effort on the part of the US to get Iran out of Iraq and out of Iraqi politics. We all should know by now this is the impeding element in any progress towards currency reform.
3-25-2020 Newshound Guru Breitling ...we're looking for a long term trend and here we are. I told you guys it was going to be $26 per barrel. It's going to get there and it's going to be there a while. That's going to put pressure on Iraq to add value to their currency...
3-25-2020 Newshound Guru Jeff ...the whole rate change itself is about a 4-week process...the reason why we saw the country of Iraq shut down their financial markets is because they did start the rate change process that week. Again it's a process. It's not just an overnight flip of a switch. They actually started the rate change last week - which is roughly week 1...we're now in week 2 so we have about two more weeks. That would take us to a possible rate change period of somewhere around the weekend of April 12th which is Easter Sunday...
3-25-2020 Newshound Guru Pimpy ...I believe everything is ready to happen. They're just gonna come out and announce whatever rate change it is. They're just gonna announce it. It's gonna happen instantly. Now that doesn't mean they won't have what's called a manage rate or "dirty float" and that is they're gonna manage it because if it's too much of a shock to the economy...
3-25-2020 Newshound Guru Breitling Question: "Is there any indication of how much Iraqi dinar the US government owns? Can you comment on the viability of the revaluation of the dinar to fund the stimulus package...?" The United States doesn't need money from anybody. Trump is trying to lower the value of the dollar so we can compete correctly. How do you do that? You have to inject money into the economy...we don't need Iraq's money. The government doesn't. I do. I'm speculating. But it doesn't work that way. You're putting heavy dinar goggles on. Our country is going to function whether Iraq exists or not...it's a good question but we don't need them for a stimulus package...
3-25-2020 Intel Guru MarkZ I definitely believe we are watching it [RV] roll out right now… [Okie was looking to land his plane today….] I wish I was as confident as he is and hope its true.
3-25-2020 Intel Guru Frank26 ...a currency swap was actually recently done with the Central Bank of Iraq and banks of the United States of America and other banks all around the world. This process is long. They've been working on it for a long time. Over a year. I thought they'd be ready this past January. No, they failed again and maybe it was because of the political B.S. of Iran. But we got that taken care of - stability and security. And we stopped the auctions and using the American dollar. The CBI and US banks made swaps. Around the middle part of December last year...this scenario is pressure because it's leading the IQD to the point of raising the value of the currency. It's the only solution for both the CBI and the GOI to pay their bills and build Iraq...They're running out of American dollars...oil is not selling at a very good price right now putting pressure on the CBI and the GOI to raise the value...it's all pointing in one direction...
3-25-2020 Newshound/Intel Guru Mnt Goat Article: "THE IRAQI PRESIDENT TRANSMITS THREE AMERICAN DEMANDS TO ADNAN AL-ZARFI" Quote: "...the American demands are summarized in three axes: First: Reducing the role of the popular crowd (Iranian backed) and keeping it away from influencing the Iraqi political decision. Second: to keep the Iranian influence from penetrating into the political and economic life of Iraq through frank and direct negotiations with Iran about that. Third: Opening up to the Arab and regional ocean countries away from Iranian dictates." So we are seeing the effort on the part of the US to get Iran out of Iraq and out of Iraqi politics. We all should know by now this is the impeding element in any progress towards currency reform.
Catnip's Corner:
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ARTICLE 1-A (from PM Mahdi's website; posted only on Arabic side, not on English side)
ARTICLE 1-A (from PM Mahdi's website; posted only on Arabic side, not on English side)
The designated Prime Minister, Mr. Adnan Al-Zarfi, meets the ambassadors of the permanent members of the United Nations Security Council
The Prime Minister-designate, Mr. Adnan Al-Zorfi, met today, Wednesday, in his headquarters in the capital, Baghdad, ambassadors of the permanent members of the UN Security Council, Russia, China, France, the United States of America and Britain.
The meeting dealt with a series of crises facing Iraq and the countries of the region and the world against the background of health risks due to the spread of the Corona epidemic, and the economic because of the collapse of oil prices in the global market, and the future of international relations due to the serious repercussions of these two challenges. In addition to studying the political situation in Iraq and its consequences in light of the delay in forming the government.
Al-Zorfi presented to the five ambassadors his vision regarding the formation of a national government that represents all the colors of the Iraqi spectrum, characterized by efficiency and ability to face internal and external crises with responsibility, stressing the need to respond to the demands of demonstrators and sit-in protesters in the cities of central and southern Iraq, and to conduct early free and fair elections in cooperation with the United Nations that includes representative representation Fair and transparent to all components without exclusion or marginalization, eliminating armed manifestations and restricting weapons to the state’s hands in a manner that preserves its prestige and preserves the sovereignty of Iraq, the reconstruction of destroyed areas and the return of the displaced and displaced, as well as its endeavor to strengthen relations of Arab Lead the neighboring countries, the region, and the world, calling on the governments of friendly countries to support and support the next government in dealing with the existing crises and resolving the outstanding issues.
For their part, the ambassadors expressed their understanding of what is going on in the Iraqi arena and the readiness of their governments to support Iraq in facing the current challenges and achieving societal peace in order to conduct early free and fair elections.
Media office of the Prime Minister
25-March-2020
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ARTICLE 1-B (from PM Mahdi's website; posted only on Arabic side, not on English side)
ARTICLE 1-B (from PM Mahdi's website; posted only on Arabic side, not on English side)
The designated Prime Minister, Mr. Adnan Al-Zorfi, meets the Minister of Health
The Prime Minister-designate, Mr. Adnan Al-Zorfi, reviewed the measures taken by the government crisis cell to confront the Corona epidemic.
During his meeting with the Minister of Health and Environment Dr. Jaafar Allawi today, Wednesday, Al-Zrafi discussed ways to surround the Corona virus crisis and the mechanisms used to prevent the increase in cases of spreading, praising the efforts made by members of the cell and health institutions, and the citizens' understanding of the necessities calling for the imposition of curfews and their commitment and the supporters wills and instructions Crisis Cell.
For his part, the Minister of Health reviewed the plans and programs of the Ministry aimed at reducing the repercussions of the new epidemic, pointing out the importance of solidarity for all and concerted efforts in this circumstance, stressing the need of the health institution for all types of support and support to fully carry out its duty.
Media office of the Prime Minister
25-March-2020
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ARTICLE 2 (from Government of Iraq twitter account)
Covid-19: A molecular testing laboratory opens in Baghdad
25 Mar 2020 - 5:37 pm
Iraq’s Minister of Health Dr. Jaafar Allawi today inaugurated at Baghdad’s Medical City a new molecular biological laboratory for testing for the coronavirus disease (COVID-19) in suspected cases.
Iraqi health officials say that the laboratory will contribute significantly to increasing Iraq’s diagnostic capabilities for COVID-19 which is a critical factor in tracking the virus and to suppressing its transmission.
The laboratory is equipped with the latest testing technologies which were delivered to Iraq by the Government of the People’s Republic of China under the framework of cooperation agreements between the two countries.
The Ambassador of the People’s Republic of China to Iraq, Mr. Zhang Tao took part in the inauguration ceremony.
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ARTICLE 3
Al-Zrafi presents his vision for the next stage in his meeting today with a number of ambassadors
3/25/2020 18:12
Baghdad
The Prime Minister-designate Adnan Al-Zorfi met today, Wednesday, in his headquarters in the capital, Baghdad, ambassadors of the permanent members of the United Nations Security Council, Russia, China, France, the United States of America and Britain.
The meeting dealt with a series of crises facing Iraq and the countries of the region and the world against the background of health risks due to the spread of the Corona epidemic, and the economic because of the collapse of oil prices in the global market, and the future of international relations due to the serious repercussions of these two challenges. In addition to studying the political situation in Iraq and its consequences in light of the delay in forming the government.
Where Al-Zarfi presented the five ambassadors his vision regarding the formation of a national government that represents all colors of the Iraqi spectrum, characterized by efficiency and ability to face internal and external crises with responsibility. Stressing the necessity to respond to the demands of demonstrators and sit-ins in the cities of central and southern Iraq, and to hold early free and fair elections in cooperation with the United Nations, which included a fair and transparent representation of all components without exclusion or marginalization. Eliminating armed manifestations and restricting weapons to the state’s hands in a manner that preserves its prestige and safeguards the sovereignty of Iraq. And the reconstruction of the devastated areas and the return of the displaced and the displaced, as well as its endeavor to strengthen Iraq’s relations with neighboring countries, the region and the world. He called on the governments of friendly countries to support and support the next government in dealing with the existing crises and resolving the outstanding issues.
For their part, the ambassadors expressed their understanding of what is going on in the Iraqi arena and the readiness of their governments to support Iraq in facing the current challenges and achieving societal peace in order to conduct early free and fair elections.
*************
ARTICLE 4
Al-Fateh bloc: Our position is consistent with the refusal to assign Al-Zarfi to the Prime Minister
3/25/2020 17:27
Baghdad
The Al-Fateh parliamentary bloc indicated the stability of its position by rejecting the mechanism through which Prime Minister Adnan Al-Zarfi was tasked with forming the government.
The head of the bloc, Muhammad al-Ghabban, said: "The position of the al-Fateh bloc is consistent with the rejection of the mechanism mandated by al-Zarfi to bypass the President of the Republic, the constitution and the political norms prevailing since 2003."
He added: "We recommend Al-Zarfi to apologize for the assignment, so that it does not cause him to lose the right of the majority."
On the 3/17/2020, President of the Republic, Barham Salih, commissioned Adnan Al-Zarfi to head the Council of Ministers and form a new government for the next period.
Both the Al-Fateh Alliance, the State of Law Coalition, the National Contract Bloc, and the National Approach Bloc rejected Zerafi's assignment, and considered that by doing so he had crossed all constitutional contexts and political norms.
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ARTICLE 5
The shares of a company jump by 557% after an error committed by the investors
3/25/2020 16:00
[Follow-up]
Investors again mistook the names of two companies and mistakenly invested their money in a Chinese company, which pushed the company's share price up quite high.
Talking about the companies Zoom Technologies and Zion Video, the first is a company specialized in the communications equipment industry, while the latter is a company based in Los Angeles and active in the field of telecommunications, where it is possible through its platform to hold meetings and conferences via video [TV bridge], in addition to providing Remote lessons.
In light of the spread of the Corona virus and the imposition of restrictions and isolation procedures, the demand for Zoom Video service increased, increasing the appetite of investors to invest their money in it.
As investors applauded, Zoom Video’s share price rose two days ago, and the company’s share rose nearly 20% to $ 157 a share.
In conjunction with this, investors mistakenly bought shares of Zoom Technologies, thinking that it is the company that provides telecommunications services, so that the shares of this Chinese company increased from 2 to 20 March by 557%.
However, the shares of the Chinese company fell yesterday by about 19% as investors realize that they have made a mistake.
In light of the spread of the Corona virus and the imposition of restrictions and isolation procedures, the demand for Zoom Video service increased, increasing the appetite of investors to invest their money in it.
As investors applauded, Zoom Video’s share price rose two days ago, and the company’s share rose nearly 20% to $ 157 a share.
In conjunction with this, investors mistakenly bought shares of Zoom Technologies, thinking that it is the company that provides telecommunications services, so that the shares of this Chinese company increased from 2 to 20 March by 557%.
However, the shares of the Chinese company fell yesterday by about 19% as investors realize that they have made a mistake.
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