Thursday, May 7, 2020

WOTS THUR MAY 7 2020

WOTS THUR MAY 7 2020
The Markets:

Asian markets closed mixed  NIK up by.28%  HSI down by .65% SHANG down by.23%

Our futures are currently green  DOW at 23802 up by 1,23%  SNP up by 1.38%  NDX up by 1.51% 

UK markets are currently trading gren none up by more then .71%

Precious Metals:
Gold  at  1692  Silver  at 15.26   Copper at  237  PLatinum green  at 757 

Brent is 30  WTI   is 24

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  0.0000  0.0000 1190.9000 1188.4000 1190.9000  -2.9000 00:00
 USD/VND  23444.0000  23447.0000 23402.2900 23402.2900 23402.2900  3.2100 01:30
 USD/CNY  7.0892  7.0912 7.1058 7.0857 7.1037  -0.0141 05:02
 USD/KWD  0.3087  0.3097 0.3089 0.3088 0.3088  0.0000 04:45
 GBP/USD  1.2370  1.2371 1.2416 1.2310 1.2337  0.0032 05:07
 USD/IRR  0.0000  0.0000 42097.5000 42097.5000 42097.5000  97.5000 00:00
 USD/IDR  15088.0000  15124.0000 15382.0000 14998.0000 15162.0000  -67.0000 05:04



Things in the News:
SWAT team raids bar...
Gun Pulled In Argument Over Social Distancing At Bank...
Inmate 'Switches' Identities With Another, Released From Jail While Wearing Mask...


Iraqi Articles:

The Iraqi parliament approves the Al-Kazemi government .. And this formation

 
link 
 
In the presence of 255 deputies, the Iraqi parliament approved the ministerial formation presented by Prime Minister-designate Mustafa Al-Kazemi, Wednesday.
Al-Kazimi said in a speech to the deputies, that the new government is a solution government and not a crisis government, stressing the refusal to use Iraq as a platform for the attacks.
 
He also stressed the necessity of restricting arms to the state and the armed forces.
On the other hand, Al-Kazemi revealed that his government intends to prepare for early and fair elections.
Lineup of ministers
As for the formation, the House of Representatives voted on Juma'a Anad as Minister of Defense, Lt. Gen. Othman as Minister of Interior, Muhammad Abbas as Minister of Health, and Ali Abdel Amir Allawi as Minister of Finance.
Council Majlis also voted on Majid Mahdi Ali, Minister of Electricity, Nabil Kazem Abdel-Saheb, Minister of Education, and Nasser Hussein Bandar Hamad, Minister of Transport.
The Council also approved Manhal Aziz Mahmoud, Minister of Industry, Nazlin Muhammad, Minister of Housing and Construction, Adnan Darjal, Minister of Sports and Youth, and Arkan Shihab Ahmed, Minister of Communications.
Khaled Najem Battal was also approved as Minister of Planning, and Adel Hashush, Minister of Labor.
"On professional grounds"
Al-Kazemi, before announcing the parliament, had revealed that he had submitted his cabinet to the country’s parliament.
Through a tweet on Twitter, Al-Kazemi confirmed that he presented the government formation, pending the parliament’s vote on it, pointing out that he worked to select the candidates, most of whom are ministerial cadres, according to professional foundations, while ensuring political, parliamentary and popular acceptance for them, as he put it.
Al-Kazimi added that the government's goal will be to serve the people and achieve sovereignty, security and justice, according to the tweet.

U.S. to renew waiver for Iraq to import Iranian electricity for 120 days: State Department


(Reuters) - The United States will grant a 120-day waiver for Iraq to continue importing electricity from Iran to help the new Iraqi government succeed, U.S. Secretary of State Mike Pompeo told the newly installed Iraqi prime minister.
“In support of the new government the United States will move forward with a 120-day electricity waiver as a display of our desire to help provide the right conditions for success,” the State Department said in a statement on a call between Pompeo and Iraqi Prime Minister Mustafa al-Kadhimi.
Washington had repeatedly extended the exemption for Baghdad to use crucial Iranian energy supplies for its power grid for periods of 90 or 120 days, but last month it granted an extension for only 30 days as Baghdad struggled to form a new government.

The US embassy calls on Al-Kazemi to make urgent reforms and meet the needs of the Iraqi people



The American Embassy in Baghdad called on Prime Minister Mustafa Al-Kazemi to make urgent reforms and meet the needs of the Iraqi people.
The embassy said in a statement received by "Al-Akhbariya", that "the United States Mission in Iraq congratulates the Iraqi people on giving confidence to Prime Minister Mustafa Al-Kazemi and his government in the session of the Iraqi parliament that was held on May 6."
"We extend our support to Prime Minister Al-Kazemi and the Iraqi people to combat the pandemic (Covid-19), achieve a comprehensive victory over ISIS, provide humanitarian assistance, and stabilize the displaced and liberated areas," she added.
She explained, "The new Iraqi government must now turn to the difficult work of implementing urgent reforms and meeting the needs of the Iraqi people. The next strategic dialogue with the Iraqi government aims to reaffirm the value of the US-Iraqi partnership for both countries."
"We had the good news of Prime Minister Al-Kazemi's promise to hold early elections and his will to strengthen the democratic system in Iraq. We look forward to working with this new government to give the Iraqi people the sovereignty, dignity, prosperity, and security they deserve."

After stopping for a day .. resuming work at a border port between the Kurdistan Region and Iran

Murad Ali Tatar, the governor of Qasir Shirin in the Kermanshan province in Iran, announced that the exports process through the official border crossing of Berizkhan with the Kurdistan Region, which had stopped since yesterday due to the sit-in of Iraqi truck drivers, resumed again Thursday morning.
Tatar was quoted by the official "IRNA" agency as saying that the trade exchanges, unloading and shipping of goods within the borders of Proiskhan had returned to normal today (Thursday) after a one-day hiatus.
He explained, that the Iraqi truck drivers began a sit-in yesterday against a decision by authorities in this country to compel them to pay the amount of "entry insurance to Iran."
This official confirmed in the Kermanshan province, that the stopping of exports at the official Berizkhan crossing is due to internal problems in Iraq and the issue is not related to the Iranian authorities.
It is noteworthy that the official Bruizhan border crossing has a strategic importance in the field of exports, and it registers daily crossing of one thousand and 200 trucks transporting to the Kurdistan Region.

The central bank calls on financial investment companies to merge

Starting from the goal of the Central Bank of Iraq towards achieving financial and banking stability and creating a competitive business environment, this bank invites private investment companies wishing to merge to form an investment institution consisting of two or more companies based on the Companies Law No. (21) of 1997 amending 
This bank confirms that this process will create strength for the merged corporation and thus will provide it with rapid growth and that the formation of a larger entity covers wider services commensurate with the large size of the merged corporation and thus its access to broader financial services by this bank commensurate with its size. 
The Central Bank of Iraq



CBI, ISX,Dinar Guru:
CBI Update:   
Click on the link above for the latest update.

The CBI for rate is 1190.

The currency auction total sales amount $ 178,341,810 Auction held  today no cash 

ISX Update:    
Shares Traded: 1,524,547,749 
Value Traded: 1,041,231,329

ISX traded ended in green 4%
Dinar Guru Chatter: http://www.dinarguru.com
5-6-2020   Intel Guru Delta   Article quote:  "On Thursday, the House of Representatives voted to pass the government of Prime Minister Mustafa Al-Kazemi."  Al-Kazemi’s government officially won the confidence of Parliament.

5-6-2020   Intel Guru Footforward  ...its my opinion it [dong]  will go up in value...  [Hey well take a VND rate over $1 ALL DAY! Back in the early 70’s it was over $2.]  ...I would love that. But i trust my sources and from the info I have,  that isn't on the table...Same for the people expecting the dinar to be 16 dollars. That isn't on the table either...

5-6-2020   Newshound Guru Adam Montana    DJIA, S&P, GOLD, pretty much everything is up, including OIL...and that is music to our ears!  Over in Iraq, we have a "still waters run deep" situation... do you remember all the ruckus that was in the news during the short durations of the previous Prime Ministers? I'm not hearing the same level of noise right now.  Al-Kazemi, the current figurehead for the position, seems to just be on cruise control. He's zooming down the political highway and there doesn't seem to be much getting in his way. Of course there is talk of disruption, but what's not being publicized is the actual progress - and there is plenty! ...Things are actually really good! In spite of my current optimism, we are at a critical point - things may turn in our favor quickly, and if they are going to turn right now... it is going to happen quickly, probably in the middle of our night, and without warning. They aren't going to give us too much of a head start, so we wait patiently and vigilantly...

5-6-2020   Intel Guru RayRen98   From news sources....The Speaker of Parliament, Muhammad Al-Halbousi, called on the parliamentarians to attend a session of confidence in the government of designate Mustafa Al-Kazemi. The Presidency of the House of Representatives announced a voting session on the ministerial program and the government cabinet for Wednesday, May 6, 2020, at 9:00 PM Iraqi time (which is 2:00 PM Eastern Time).  The United States is assuming a very urgent and significant need to form the government of Mr. Mustafa Al-Kazemi. ...

5-6-2020   Intel Guru MarkZ   [So what is the hold-up?]  I don’t think there is a hold-up…my government sources still keep telling me not to look for anything before mid-May…they want everything in place by June 1st. I can’t change the timing…I know it’s coming and I take great comfort from the fact that banks are stopping lending...So banks are not kicking the can anymore…i took this as a good sign…I know it is close and it is coming...

5-6-2020   Newshound Guru Pimpy  ...Trump's like look you're gonna see one hell of a second half of 2020 but we're going to see the best year ever in 2021.  It's like he's anticipated being reelected and to be quite honest so am I.  So whether this reinstatement is a part of that and it makes sense to me.  And he did say something about a global boom.  Why?  Free trade.  A reinstatement of the rate.  An economy kicked because of all the newly created millionaires.  Is it possible?  Yes. We've been hearing for so long that this is fake.  Tell me there's a huge part of you that's not gonna gloat once this happens because people doubted you...

5-6-2020   Newshound Guru Jeff  ...they are not going to vote on the formation of the government until 9pm tonight...right now it's about 4:05 pm in the country of Iraq.  We have roughly another 5 more hours to go... [You can see the Iraqi Time in the left column of this page.]

5-6-2020   Newshound/Intel Guru Mnt Goat   So sooner than later may mean Jan 2021 or by some miracle we might see something this summer even. ...remember there is NEVER going to be an ideal time or perfect time when Iraq is going to be a model country. ...It seems for now that the finance committee and the CBI are on the same page for this to occur.  ...For Iraq to go anywhere on the global marketplace it must have a globally recognized currency. I don’t even care what rate they initially come out as...Just get the damned rate back on FOREX and let the free market take it from there. [post 3 of 3]

5-6-2020   Newshound/Intel Guru Mnt Goat   5)  Oil is on the rise, clocking in today [Tuesday] at about $30 a barrel and the day is not yet over; 6)  China wants desperately to get their stronghold inside Iraq and invest with their billions of Chinese funds and get their guaranteed oil. They want to do this in 2020 not years down the road; 7)  Corona virus is at a decline in Iraq, as they shut down the borders with Iran and are keeping them shut, for now. 8)  The CBI is already geared up to replace the larger notes with the smaller denominations. This project is huge and is the “project to delete the zeros”...this...will lead us to the reinstatement on FOREX as the global rate. We are NOT going to be allowed to exchange our dinar at the banks unless two things happen: a) the IQD is reinstated back on FOREX and b) Sanctions are lifted on the currency (probably will happen at the same time);...  [post 2 of 3....stay tuned]

5-6-2020   Newshound/Intel Guru Mnt Goat   ...So the prospects of an RV sooner than later are good. ...I want everyone to know I do not mean that as soon at the government is announced they are going to RV... What do we see now that is different than last week: 1)  Iraq should form their government this week, This should bring a sense of stability and security;  2)  Iranian influence is at an all time low...This is mandated prior to any reinstatement;  3)  Al-Kazimi promises to open up the corruption files meaning they could actually finally go after Nori al-Maliki and his gang of thugs... 4)  Iraq has finally managed to cut off funding to Iran via the currency auctions...through sourcing dollars now only via electronic means. This allows transparency and audits of exactly where all the money is going. So they are now abiding by US sanctions on Iran;  [post 1 of 3....stay tuned]

5-6-2020   Newshound Guru Kaperoni  Iran apparently decided to delete 4 zeros today and introduce the Toman as the new currency.  This took parliament approval and is a LOP.  Very similar to what has been discussed with Iraq.  This is not a RV/RI but a neutral event.  We do not want to see Iraq do this...In fact, we have seen several articles in Iraq talk about parliamentary approval. Therefore, we know that is what the CBI is also considering. Parliamentary approval is not needed for traditional monetary policy.  




Catnip's Corner:
***********
ARTICLE 1 (from PM Mahdi's website)

At the time this report was submitted, there are no new articles posted on the PM website but Mahdi's pix has been replaced with Kadhimi's pix.

***********
ARTICLE 2 (from Government of Iraq twitter account)

Iraq’s Parliament approves government programme

 07 May 2020 - 1:33 am

Iraq’s Council of Representatives (Parliament) on Thursday approved by a majority the government programme presented by Prime Minister Mr. Mustafa Al-Kadhimi.

The programme is a general framework that sets out the government priorities, which include:

Holding free and fair early elections after finalising the new electoral law
Mobilising all resources to combat the coronavirus pandemic, and laying the foundations for a modern health system
Restricting weapons to state and military institutions
Submitting to Parliament a special draft budget law to address the economic crisis
Launching a national dialogue with all sections of Iraqi society, listening to the demands of the protest movement, bringing to justice those involved in the spilling of Iraqi blood and looking after the families of the martyrs
Protecting the sovereignty and security of Iraq, continuing to fight terrorism, and providing a national vision on the future of foreign forces in Iraq
Fighting corruption and protecting the wealth of Iraq
Promoting the values of shared Iraqi citizenship, respecting Iraq’s ethnic, religious diversity, and rejecting all forms of discrimination
 Providing all the necessary requirements to support internally displaced people to return to their home, and end internal displacement in Iraq


Developing and reforming security institutions
The programme outlines the government’s plans to reform and modernise Iraq’s military and security institutions, and confirms that:

The duty of the Iraqi Army is to protect Iraq’s external borders, sovereignty, and democratic process. It must not operate inside civilian areas unless by exceptional orders from the Commander-in-Chief of the Armed Forces
The security formations of the Ministry of Interior will be responsible for internal security, maintaining civil peace, the rule of law, and protecting human rights. These formations will be reorganised, will receive further training, and be properly equipped
The National Intelligence Service, the National Security Agency, the Counter-Terrorism Service, and Popular Mobilisation Units will continue to perform the tasks assigned to them as directed by the Commander-in-Chief of the Armed Forces
The security forces will be properly equipped and provided with the necessary arms and ammunitions to enable them to protect Iraq from terrorism and to secure its borders
 The Armed Forces will be governed by a professional military doctrine with a strict respect for the chain of command, and be representative of all segments of Iraqi society


Addressing the economic and fiscal challenges
The programme outlines several measures the new government will implement to address current economic challenges, including:

Reducing public spending, ending non-essential expenditure, developing an effective system for collecting customs tariffs, and starting negotiations to restore Iraq’s oil production share which was reduced recently
 Working with global financial institutions, including the International Monetary Fund and the World Bank, to develop programmes to minimise the impact of the economic crisis, especially in relation to reducing the budget deficit, and ensuring efficient management of financial resources
 Establishing the Supreme Council for Construction and Investment which will be responsible for drawing up a comprehensive plan for building Iraq’s infrastructure, and for encouraging investment in all provinces
 Submitting to Parliament a draft Iraqi National Oil Company Law, and establishing a team to negotiate with oil companies changes to Iraq’s oil licensing rounds to reflect recent developments in global markets
  Launching a “Made in Iraq” national project to encourage local industry and agriculture by adopting appropriate mechanisms and laws, and through the consistent and effective application of customs tariffs
Directing the Central Bank of Iraq to develop a plan within a year for the modernisation of the Iraqi banking sector
 Undertaking comprehensive administrative reforms of state institutions, removing unnecessary procedures, and implementing anti-corruption measures
 Restarting the e-government and transparency projects to include all state institutions
 Adopting programmes to empower young people to access jobs in the private sector and provide them with social security benefits similar to those enjoyed by their counterpart in the public sector
Expanding the scope of social security benefits to support low and fixed income groups
 Adopting automation and modern technology in state institutions, especially at the Border Crossings Authority and  in the customs system


Iraq’s foreign relations
The programme outlines three pillars that will guide the government’s approach to foreign relations:

Sovereignty: Iraq will not allow any country to violate its sovereignty, and will not permit its territories to be used to launch attacks on any of its neighbours or be used as an arena to settle regional or international scores
 Balance: Iraq will not become part of any regional or international axis, and will adopt a balanced policy of positive engagement with its Muslim and Arab neighbours, countries around the world, and abide by its international commitments
Cooperation: Iraq seeks to build an integrated system of common and shared interests as a basis for its foreign relations, and seeks to contribute effectively to resolving regional and international crises, combating terrorism, money laundering, and organised crime. The government will also commence detailed preparations for the upcoming talks with the United States on the future relationship between the two countries and the presence of the Global Coalition in Iraq, with the aim of preserving Iraq’s higher interests and fulfilling the aspirations of the Iraqi people.


Combatting corruption and administrative reforms
The programme outlines a range of measures to combat corruption, including:

 Conducting an audit of the financial records of companies and commercial entities belonging to political parties, public figures, and others which are suspected of having illegitimate sources for their assets
Reforming the system of awarding government contracts and changing investment rules
Enforcing current laws to pursue  and return Iraq’s money that have been smuggled abroad
Holding corrupt individuals accountable, regardless of their influence


Delivering justice and judicial independence
The government will propose laws and adopt measures to safeguard the independence of the judiciary, and to pursuse and hold accountable law breakers.



Protecting the right to protest, empowering youth
The programme underscores the government’s commitment to protecting the right to peaceful protest, describing it as a “fundamental democratic practice”. It also highlights the critical role of young Iraqis in shaping the future of the country.  The programme commits the government to:

Establishing an advisory council of young Iraqis representing all provinces, linked to the Prime Minister’s Office, to be part of the policy formulation process with regard to the government reform agenda. The proposed council will also advise the government on the development of mechanisms and regulations to protect the right to peaceful protest.


The Federal Government, the Kurdistan Regional Government and the Governorates
The programme sets out a number of steps to regulate relations between the Federal government on the one hand and  the Kurdistan Reginal Government and the governorates on the other, including:

Working with the Kurdistan Regional Government to address outstanding problems in accordance with the Constitution
 Working with Parliament to develop necessary legislation to organise the relationship between the Federal Government and the governorates in a way that guarantees an effective distribution of powers between the centre and the provinces.

**********
ARTICLE 3

Urgent First statement to Al-Kazemi after his government won the confidence of Parliament
7/5/2020 1:18
[Baghdad-where]

Today, the esteemed parliament has given confidence to my government, and I will work with the honorable ministerial team in earnest to win the trust and support of our people. My gratitude to all of our support, and my hope that all political forces will join hands to face difficult challenges

Iraq's sovereignty, security, stability and prosperity are our path.

***********
ARTICLE 4

Urgent Parliament votes for Majid Mahdi Ali, Minister of Electricity (7/5/2020 1:26)
Urgent First Statement by Al-Kazemi After His Government Gained Parliament's Trust (7/5/21 1:18)
Urgent House of Representatives Lifts its Session (7/5 2020 1:16)
Urgent: Al-Kazemi and the ministers voting on them to take the constitutional oath (7/5/21 1:12)
Urgent Al-Kazemi government officially won the confidence of Parliament (7/5/2020 1:11)
Urgent Postponement of the Vote on Candidates of the Ministry of Foreign Affairs and Oil (7/5/2020 1:10)
Urgent: The House of Representatives sat and voted for Ali Hamid Mekhlef, Minister of Education (7/5/2020 1:09).
Urgent House of Representatives votes on Mahdi Rashid as Minister of Water Resources (7/5/2020 1:08)
Urgent The approval of the House of Representatives did not get the praise of Hikmat Nasser, Minister of Immigration and Displacement (7/5/2020 1:08)
Urgent House of Representatives votes for Adel Hashouch, Minister of Labor (7/5/2020 1:07)
Urgent Did not get the approval of the House of Representatives to Ismail Abdel Reda Minister of Agriculture (7/5/2020 1:06)
Urgent House of Representatives votes on Arkan Shihab as Minister of Communications (7/5/2020 1:04)
Urgent Refusal to vote on the candidates of the Ministries of Justice, Trade, Culture and Agriculture (7/5/2020 1:03)
Urgent The House of Representatives did not obtain the approval of Manhal Aziz Jassim as Minister of Industry (7/5/2020 1:02)
Urgent House of Representatives votes on Adnan Darjal for the Ministry of Youth and Sports (7/5/2001 1:01)
Urgent House of Representatives Vote on Nasser Hussain Bandar Hamad as Minister of Transport (7/5/2020 1:01)
Urgent: The parliament did not obtain approval from Nawar Nassif Jassim, Minister of Trade (7/5/2020 1:00).
Urgent Parliament votes for Hassan Muhammad Abbas as Minister of Health (7/5/2020 1:00)
Urgent vote on Nazlin Muhammad, Minister of Housing and Construction (7/5/2020 0:59)
Urgent House of Representatives votes on Khaled Najm Battal as Minister of Planning (7/5/2020 0:58)
Urgent vote on Ali Abdul Amir Allawi, Minister of Finance (7/5/2020 0:57)
Urgent House of Representatives votes on Othman Al-Ghanmi, Minister of Interior (7/5/2020 0:57)
Urgent House of Representatives votes to collect stubbornly as Minister of Defense (7/5/2020 0:56)
Urgent Text of Al-Kazimi's Speech to Parliament (7/5/2020 0:49)
Urgent Al-Kazemi: Early elections, limiting weapons, and preventing the use of Iraq as an arena for aggression are our most important tasks (7/25/20 0:38)
Urgent Repeating the Constitutional Right to Three Representatives (7/5/2020 0:33)
Urgent Al-Kazemi presents his governmental approach to Parliament (7/5/20 0:31)
The House of Representatives votes to replace the cut-off and resigned representatives with others (7/20/20 0:30)
Urgent Al-Kazemi: This government is a solution government, not a crisis government (7/5/2020 0:30)
Al Halbousi: We seek to form a strong government capable of facing difficulties (7/5/2020 0:19)
Urgent Speaker of Parliament opens session with a quorum of 233 deputies and played the national anthem (7/5/20 0:16)

***********

Posted by at
Labels: , , , , , , , , , , , , , , , , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)