Tuesday, August 11, 2020

WOTS TUES AUG 11 2020

WOTS TUES AUG 11 2020

The exchange rate of the dollar fell on the Al-Kifah Stock Exchange, while it stabilized in the local markets on Tuesday.

The prices of the Kifah Stock Exchange - Baghdad recorded 123,450 dinars per 100 dollars.
Selling and buying prices in the exchange shops
The selling price of the dollar = 124,000 dinars
The purchase price of the dollar = 123,000 dinars


The Markets:
The Asian markets closed mixed NIk up by 1.88%  HSI up by 2.11%  SHANG down by 1.15%
The UK markets are currently trading green from 1.10% to 2.72%
Our futures are currently trading green  the DOW at 27958  up by 1.01%  SNP at 3376 up by .70%  NDX at 11136 up by .58%

Precious Metals:
Gold is red at 1989  Silver is red  at 28.30  Copper is red at 285  Platinum is red at 973 
Brent 45 WTi  42


Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  0.0000  0.0000 1192.6000 1191.7000 1192.6000  1.1000 00:00
 USD/VND  23174.0000  23176.0000 23159.9500 23155.0700 23155.0700  6.3400 04:44
 USD/CNY  6.9441  6.9461 6.9610 6.9445 6.9609  -0.0164 05:02
 USD/KWD  0.3054  0.3064 0.3054 0.3054 0.3054  0.0000 04:53
 GBP/USD  1.3099  1.3101 1.3100 1.3055 1.3071  0.0029 05:05
 USD/IRR  0.0000  0.0000 43011.9000 43011.9000 43011.9000  -43.1000 00:00
 USD/IDR  14726.0000  14729.0000 14763.0000 14592.0000 14716.0000  11.0000 05:02

Things in the News:

Iraq draws up strategic plans for gas investment
link  I didn't do that highlighting
The Oil, Gas and Natural Resources Committee in the House of Representatives revealed, on Tuesday, a plan to invest associated gas during the next stage, noting that Oil Minister Ihssan Abdul-Jabbar Fateh a number of international companies regarding this matter.
A member of the committee, Sadiq Al-Sulaiti, explained that "the committee had previously called on Prime Minister Mustafa Al-Kazemi to pay attention to the accompanying gas file, as Iraq cannot advance one step if it does not focus on this important file and stops the waste of this wealth," pointing out that "the Minister of Oil The current form of a committee is pending completion of the full study of associated gas investment.
Al-Sulaiti added, "The ministry has opened international companies and is waiting for their approval to invest gas, provided that their work will appear in a realistic way during the next six months."Former oil ministries are responsible for wasting billions of dollars by burning gas in the air and focusing on extracting oil wealth and selling crude only. "
He continued, "It was supposed to develop a sequential plan for several years to reach self-sufficiency in gas, because Iraq can invest this wealth that burns in its oil fields to cover local needs, in addition to its possession of free gas fields that can be directly invested."
Representative Finance: The government has broken its promises, and there is no borrowing without a budget
On Tuesday, the Parliamentary Finance Committee criticized the current government for breaching its promises to implement financial reforms, noting that its decision was clear not to grant the government any kind of borrowing, whether internal or external, if the budget was not presented.
"The government is supposed to present its reform paper to Parliament, and an extraordinary session will be held within the next two weeks," said the reporter of the Finance Committee, Ahmed Al-Saffar, in an interview with Al-Sabah newspaper.
Al-Saffar added, "The Financial Committee is working on a reform paper, and it is assumed that there will be a meeting with the government to unify the two papers and come up with a reform paper that promotes the economy, maximizes revenues and guides expenditures to get rid of loans, as the state can properly control its resources."
He explained, "The borrowing law authorized the government to borrow amounts sufficient for three months as salaries for employees, and with the rise in oil prices, the state's imports are supposed to increase, and therefore it is assumed that the government has money to pay salaries," stressing that "there is no external borrowing, and the borrowing law that Parliament voted it reluctantly.
He continued, "The Finance Committee's decision is clear, which is that the government does not grant any kind of borrowing, whether internal or external, if the budget is not presented, and in return, the government promised that there 
would be reforms, and it was granted 

The Washington Institute: The Iraqi people are paying the price for unwanted Iranian influence

The Washington Institute argued that the Iraqi people are paying the price for unwanted Iranian influence, and that it is imperative that Baghdad distance itself from the Iranian regime.
The Institute's political security analyst, Mayan Carlin, said that Iran's policy and its interference in the affairs of Iraq and its militia policy caused angry demonstrations in various parts of the country in the late 2000s, and Iranian militias responded to these protests violently, resulting in the death of more than eight hundred protesters and injuries. A larger number.
Carlin indicated that the killings orchestrated by Tehran and its proxies, led to an increase in anti-Iranian sentiment in Iraq.

A series of explosions targeting the American army at the Jericho port, between Iraq and Kuwait

Media sources reported, on Tuesday, that the American forces had been targeting the border area between Iraq and Kuwait, indicating that the target point was intended for the passage of logistical materials for the American army.
The sources said, "A series of IEDs targeted a military residence site for the US army in the border area between Iraq and Kuwait, and
added that" the target point is for the passage of logistical materials for the US army. "

Al-Sadr: I intend on the 100-day deadline to determine the seriousness of the prime minister's work

link  this translates weird but it is showing Sadr is letting KAzemi know his 100 days are almost up
The leader of the Sadrist movement, Muqtada al-Sadr, announced that he is determined to extend the 100-day deadline to determine the seriousness of the work of the current Prime Minister Al-Kazemi.
According to Salih Muhammad al-Iraqi, a comment by al-Sadr said, according to his condition in the communication, Saleh Muhammad al-Iraqi.
The Iraqi replied to al-Sadr by saying, "I tell it.
Sadr answered: Yes, report it on me.

Taxes collect July's revenues ... a 15 percent increase

The General Tax Authority said, on Tuesday, that its revenues achieved during the month of July amounted to about 177 billion dinars, an increase of 15%, one percent from the previous month.   
The Director General of the Authority, Shaker Al-Zubaidi, stated in a statement to the official agency, followed by "People" (11 July 2020), that "public taxes achieve a financial surplus to support the state treasury despite the repercussions of the Corona virus and its impact on the economies of Iraq and the world." 
He added that "public taxes are the ones with the highest rate of revenue at 40 percent of total customs revenues, which contribute to strengthening the public budget after oil revenues," noting that "these revenues will enable the national economy to support investment and national development." 
And the General Tax Authority had counted the revenues of the first half of this year, indicating that tax revenues amounted to more than one trillion and 500 billion dinars during the first half of this year despite the measures of the Corona pandemic and its impact on commercial movement. 

CBI, ISX,Dinar Guru:

CBI Update:  Just  a note:
They have been having auctions and the ISX has been trading regularly the sites just don't update in time to put the information in this report, unless it is
here.   
Click on the link above for the latest update.

The CBI for rate is 1190.

The currency auction total sales amount $ .   Friday

  including   $  in cash Friday

ISX Update:   
Shares Traded: not updated for today
Value Traded: not updated for today 

8-11-2020   Newshound Guru Pimpy ...to be quite honest, man, I understand why the bank was making a pitch for a rate around $1.13 / $1.34 but man after talking to my friend and thinking this over I can understand why they might go ahead with the $3.22 rate.  I'm NOT saying that's what the rate is.  I'm just saying they don't have anything to lose.  They have nothing there.  They need to rebuild everything.  They need purchasing power.  So if we reinstate the rate at $3.22 that gives Iraq the purchasing power they need to import all the supplies and goodies they need to start rebuilding that country.  Then later on if they want to go back and do an adjustment and lower it then by all means you could do so.  But for now they have nothing whatsoever...
8-10-2020   Newshound Guru MilitiaMan   Article:   "A parliamentary bloc calls on Al-Kazemi to implement the government program before performing any foreign visit"   Quote:  "Iraq suffers from major security, service and economic problems, and it was the first to follow up these files before making any visit or any foreign government tour."  Next week, the Prime Minister, Mustafa Al-Kazemi, will start an official visit to the United States of America, at the head of a government delegation, based on an official invitation."   So in other words, get the reforms done before you leave... This I like...imo.

8-10-2020   Guest Guru Scrappy   keynote: US Dollar becoming asset backed is TIMED with the rate change. Because the dinar is one of the assets backing the USD (THAT'S HUGE).   ...half of Iraq 's fiscal year start's 10/1...US's fiscal year starts 10/1...Iraq can only change their rate at the begging of a new fiscal period...That's why the (White Paper) reforms are linked to a budget (require funding).  The HCL is a REFORM (oil payments to citizens) that requires budget funding.  Iraq 's current constitution only goes to article 139, they have to amend the constitution and add both HCL & ARTICLE 140 to it.  Both 140 & HCL have been approved since 2005 and cant be implemented until the rate changes.  Those are some of the WHITE PAPER REFORMS waiting on the rate change budget approval for the 2nd half of their year... If Iraq doesn't Change their rate in September, then were waiting until March of next year.

8-10-2020   Newshound Guru Pimpy   Article:   "The second round of strategic dialogue between Ira and America will start soon, amid Suni-Kurdish support"  Quote:  "Kurdistan region of Iraq are awaiting the results of the second round of strategic dialogue negotiations between Iraq and the United States which is scheduled finally for August 20th..."  If you think about this, this is towards the end of August...then they will have the rest of September, all of October and then elections the first couple of days in November.  Man if I was Trump, if I wanted to make some people very very happy and you wanted to give some kind of boost to economies around the world, I could think of a way...how about we just reinstate that $3.22 right there.  I would love to see that...

8-10-2020    Intel Guru MarkZ   No bad news over the weekend…still quiet…The redemption center side...Everything is hushed and I think that is a very good sign. Hopefully we will see some real movement.

8-10-2020   Newshound Guru Pimpy   Article:   "Deputy:  The economic file will be part of Al-Kazemi's visit to the White House"    Good.  Because I know what you're thinking.  Why don't they just go ahead and change the rate?  I'm sure that'll be a pretty big boost don't you think?  I surely do.   Quote:   '...the economic file will be part of the files that the Prime Minister Al-Kazemi will discuss during his visit to the White House next week.'  ...I'm sure one of the things that Al-Kazemi is going to be saying to him is 'look we need to do infrastructure .  We don't have scabbily right now.  We're going to be starting from square one and we need some kind of help.  A big help for us would be for you to once again recognize our sovereignty and then please remove the restrictions off our currency and let us reinstate our rate so that we can start importing all the supplies we need to do infrastructure.'  Man I am so waiting for that announcement...

8-10-2020   Intel Guru Footforward   [Does the dong and the dinar have to go at the same time? Could they go months apart or even years apart?]  they don't "have to" go together. It's better if they do. Easier if they do. They would likely be weeks or months apart if they don't go together.  Not years. In my opinion.  ...It's been the plan for a long time for them to go together.
Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi receives a number of wounded demonstrators in Dhi Qar

Today, Monday, the Prime Minister, Mr. Mustafa Al-Kazemi, received a number of injured demonstrators in Dhi Qar Governorate.
Mr. Al-Kazemi welcomed the delegation, stressing its support for the true demands of the demonstrators, which raised the slogan of change in order to improve the reality of the country and build a better future for Iraq, based on justice, equality and comfortable living for citizens, and indicated that the government is determined to fulfill the demands of peaceful demonstrators, which are among the priorities of its government program .
  
Mr. Al-Kazemi pledged to provide treatment for the wounded demonstrators, and to transfer some of them for treatment outside Iraq if necessary, as well as to consider their inclusion in the salaries of the social protection network, and he pledged to take all necessary legal measures in order to restore their rights.
Mr. Al-Kazemi asked the delegation to convey its greetings to the people of Dhi Qar, the city of history and cultural depth, and stressed that the reality of Nasiriyah today is not pleased with us at the level of services, and we will make every effort to provide a decent life for the citizens of Nasiriyah and all Iraqis, despite the great challenges facing Iraq due to the pandemic Corona and its economic repercussions.
  
His Excellency directed the formation of a committee to coordinate between the Prime Minister’s office and the wounded to monitor their health conditions, and he also confirmed the construction of a memorial to document peaceful demonstrations and heroic martyrs, to be a historic moment that carries lessons and lessons for future generations.
For his part, a delegation of the wounded in the Nasiriyah demonstrations expressed their deep thanks and gratitude to the Prime Minister for the good reception, his keenness to monitor the conditions of the wounded in Dhi Qar and the rest of the detainees, and his great interest in the children of Nasiriyah, and confirmed their support for the efforts of the Prime Minister to achieve the legitimate demands of the demonstrators for the future of Iraq.
Media Office of the Prime Minister
10-Aug-2020

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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.

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ARTICLE 3

Representative economy proposes a plan that focuses on investment

10/8/2020 19:05 •
Where's News _ Baghdad


The Parliamentary Economic Committee announced, on Monday, a plan to improve the Iraqi economy through investment, while it revealed a meeting with the Prime Minister, during which it presented the problems that hinder investment and put in place solutions to revitalize it.



"The committee has a plan to improve the economy and strengthen the budget, by opening wide and great horizons for investment, as well as how to empower the investor and facilitate his mission in Iraq and reduce red tape," said member of the committee, MP Atwan Al-Atwani, according to the official agency.
He added, "Prime Minister Mustafa Al-Kazemi met with the members of the committee, where all the problems facing investment and investors were presented, foremost of which is the absence of an investment map in Iraq to be approved by the investment authorities, but there is a map drawn by the investor himself, his temperament and his desire."



He cited, saying: "The capital, Baghdad, includes many commercial malls that are only 150 or 200 meters away from the other, so we need major economic activities outside the capital's borders in order to ease the inflation that exists in the capital."



He continued, "The meeting also touched on how to deal with the investor and facilitate his task, as well as the importance of removing bureaucracy and combating corruption."



He pointed to "the importance of supporting the private sector, to absorb youth energies and allocate retirement benefits, as in government institutions, which will significantly reduce the momentum on state ministries."



He stressed "the necessity of sponsoring and empowering the private sector in terms of customs facilities and providing work requirements, as well as setting fees for imported goods, so that the local product is competitive with foreign products."



He pointed out that "the government must study and prepare the budget by reducing dependence on oil revenues, and directing to other resources that finance the budget."



He stressed that "oil has become an unimportant commodity due to the presence of new capacities, and thus the country's dependence on oil poses a great danger to the economy."



With regard to double salaries, he explained that "there are large numbers of double salaries, and this is a crime punishable by law and a major defect, because it is a drain on the energies and resources of the state." The competent authorities to hold them accountable. "

*************
ARTICLE 4

Because of the waste of more than 6 trillion dinars ... the issuance of a summoning order against Foreign Minister Fouad Hussein

10/8/2020 16:56 • 
Ayna News - Baghdad


A responsible source said, on Monday, that a summoning order had been issued against Foreign Minister Fuad Hussein on charges of wasting public money and exploiting the position.



The source said that the Supreme Iraqi Judiciary issued an order to bring in the current former Minister of Finance and Foreign Affairs, Fuad Hussein, according to Article 340 due to the waste of more than 6 trillion dinars and the abuse of the position.
He added that 30 deputies filed a complaint against him before the judiciary.

*************
ARTICLE 5

Representative economy proposes a plan that focuses on investment

10/8/2020 19:05 • 
Where's News _ Baghdad


The Parliamentary Economic Committee announced, on Monday, a plan to improve the Iraqi economy through investment, while it revealed a meeting with the Prime Minister, during which it presented the problems that hinder investment and put in place solutions to revitalize it.



"The committee has a plan to improve the economy and strengthen the budget, by opening wide and great horizons for investment, as well as how to empower the investor and facilitate his mission in Iraq and reduce red tape," said member of the committee, MP Atwan Al-Atwani, according to the official agency.
He added, "Prime Minister Mustafa Al-Kazemi met with the members of the committee, where all the problems facing investment and investors were presented, foremost of which is the absence of an investment map in Iraq to be approved by the investment authorities, but there is a map drawn by the investor himself, his temperament and his desire."



He cited, saying: "The capital, Baghdad, includes many commercial malls that are only 150 or 200 meters away from the other, so we need major economic activities outside the capital's borders in order to ease the inflation that exists in the capital."



He continued, "The meeting also touched on how to deal with the investor and facilitate his task, as well as the importance of removing bureaucracy and combating corruption."



He pointed to "the importance of supporting the private sector, to absorb youth energies and allocate retirement benefits, as in government institutions, which will significantly reduce the momentum on state ministries."



He stressed "the necessity of sponsoring and empowering the private sector in terms of customs facilities and providing work requirements, as well as setting fees for imported goods, so that the local product is competitive with foreign products."



He pointed out that "the government must study and prepare the budget by reducing dependence on oil revenues, and directing to other resources that finance the budget."



He stressed that "oil has become an unimportant commodity due to the presence of new capacities, and thus the country's dependence on oil poses a great danger to the economy."



With regard to double salaries, he explained that "there are large numbers of double salaries, and this is a crime punishable by law and a major defect, because it is a drain on the energies and resources of the state." The competent authorities to hold them accountable. "
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