WOTS MON OCT 19 2020
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1167.6000 |  1218.7000 | 1192.4000 | 1191.4000 | 1192.4000 | -0.9000 | 11:40 |
| USD/VND | 23175.0000 | 23179.0000 | 23177.1600 | 23176.6800 | 23177.1600 | -0.4900 | 22:35 |
| USD/CNY |  6.6843 | 6.6863 | 6.7021 | 6.6843 | 6.6967 | -0.0125 | 05:07 |
| USD/KWD | 0.3055 | 0.3065 | 0.3059 | 0.3057 | 0.3059 | -0.0002 | 05:05 |
| GBP/USD | 1.3006 | 1.3007 | 1.3014 | 1.2896 | 1.2902 | 0.0095 | 05:07 |
| USD/IRR | 42000.0000 | 42210.0000 | 43011.9000 | 43011.9000 | 43011.9000 | -43.1000 | 04:44 |
| USD/IDR | 14723.0000 | 14725.0000 | 14740.0000 | 14658.0000 | 14682.0000 | -19.0000 | 05:07 |
Compton residents to get guaranteed income in 2-year pilot program...
$6,551,872,000,000: Federal Spending Smashes Record...
Record Farm Subsidies Doled Out -- To Save Trump's Campaign...
Maybe APPLE Isn't as Green as It Claims...
Low oil prices after disappointing economic data
Oil prices declined, on Monday, after reports that Chinese economic growth in the third quarter did not increase as much as expected, confirming concerns that the rise in Coronavirus cases worldwide affects demand in the world's largest oil importer.
Brent crude for December delivery fell 13 cents, or 0.30%, to $ 42.80 by 05:50 GMT, while West Texas Intermediate crude fell for the month of November by $ 41.00 a barrel, down 12 cents.
Brent rose 0.2 percent last week, while West Texas Intermediate crude rose 0.7 percent after the decline in inventories of crude and petroleum products in the United States, the largest consumer of oil in the world.
Chinese data showed that growth in goods and services is easing while data on crude oil processing and industrial mineral production, given the lifeblood of the fiscal stimulus, was "disappointing," said Hui Li, an economist at Oversea-Chinese Banking Corp (OCBC).
"We will probably see prices go down for the rest of the day," Lee said.
OCBC's Lee added that investors are focusing on the Joint Ministerial Monitoring Committee (JMMC) meeting of the OPEC + group to be held later on Monday.
The OPEC + Joint Technical Committee meeting last week reported a bleaker outlook for fuel demand due to concerns that a prolonged second wave of the COVID-19 pandemic and that a jump in Libyan production could push the oil market into a surplus next year.
Energy companies in the United States, the world's largest oil producer, last week added the largest number of oil and natural gas rigs since January as producers returned to the well platform as crude oil prices have stabilized at around $ 40 a barrel for the past several months
Assigning a central bank official to another acting position {document}
According to an administrative order for the Administrative Department / Department of Human Resources Management in the Central Bank, the Euphrates News Agency obtained a copy of it, and based on the direction of the governor, it was decided to assign the Director General of Accounting in the Central Bank, Ihssan Shamran, with the duties of the advisor and the agency in addition to his duties and authorizes all powers Fundamentalism. "
The administrative order issued today, Sunday, indicated that its implementation begins from the date of its issuance.
Ammar Al-Masoudi
Parliamentary Finance clarifies the most prominent points to resolve the crisis between Baghdad and Erbil
The Parliamentary Finance Committee clarified the most important points necessary for resolving the financial dispute between the center and the region, pointing out that the situation needs to be settled and negotiated with oil companies, detailing the issue of border crossings revenues and legislating laws that serve both parties.
Committee member Jamal Ahmed told "the information", "The financial crisis between Baghdad and Erbil will be resolved through the inclusion of provisions for the two parties' agreement in the next year’s budget that includes their commitment to fulfill their obligations in accordance with the law."
He added that "the solution to the crisis will be through the financial settlement between Baghdad and Erbil and ensuring its validity in all future budgets, according to time limits for its resolution."
He explained that "the solution to the revenue crisis of border crossings needs to be detailed between the two governments, while oil revenues need to legislate the oil and gas law and re-negotiate with companies operating within the region, as well as settle accounts on this file."
Member of Parliamentary Finance: The Central Bank does not need to print the currency ... the dinar is threatened with collapse
Member of Parliament’s Finance, Representative Sherwan Mirza, confirmed today, Monday (10/19-2020), that printing amounts of banknotes are linked to .hard currency at the Central Bank of Iraq Mirza said in an interview with (Baghdad Today), "The printing of any sums of Iraqi cash is mainly related to the size of the financial cover for hard currencies at the Central Bank," noting that "any printing operation without a financial cover will lead to the collapse of the exchange rate, and thus lead " .To the collapse of the Iraqi dinar ".
He added, "The central bank has sufficient cash reserves, and it does not need to print any additional banknotes
The talk that has spread recently about printing a new currency and pumping it into the Iraqi market by the central bank is not correct, and it was" .denied in official statements by the central bank, which confirmed that even the exchange rate of the dinar against the dollar," he said
Yesterday, a member of the Parliamentary Finance Committee, Naji Al-Saeedi, saw that printing currency by the Central Bank is a legal violation, and will .harm the country's economic position and float the currency
Al-Saeedi said in an interview with (Baghdad Today), "The Central Bank used the method of printing currency, although it is a step inconsistent with the bank law, which confirms that printing banknotes is a routine technical procedure practiced by the bank according to the requirements of cash ".circulation
He added that "this procedure will harm the economic and financial center of Iraq and generate corruption files. Therefore, the management of the ".central bank must be reconsidered because it is not worthy of this task
Structuring the banking sector
The concept of restructuring the banking sector is not limited to the review of banking capital, in proportion to its role in the development process, with the introduction of technologies and electronic systems that contribute to the development of performance and reduction of sagging rings, as well as the focus of training and development to raise the efficiency of workers in the context of ensuring the provision of the best services at a cost Competitive.
The concept of restructuring is shifting to the merger of small banks to create large banks that can provide diversified and integrated banking services, while some observers see the concept of "restructuring the banking sector" as a reference to the possibility of privatization of state banks in the context of the transition from the state economy to the system of the state economy Market.
The second axis was first mentioned in the white paper submitted by the government, which refers to the treatment of the level of capital of all government banks, a sign of a tendency towards a social market economy in which the state shares with the private sector in many episodes and axes Economic.
However, government banks are legally described as public companies, and these companies are referred to in paragraph 4 of the same axis with a paragraph (legislation on the restructuring of public companies and their transformation into private companies) by examining the financial situation and assessing their viability, while emphasizing the evaluation of companies among successful, fully or partially privatized, or converted into mixed joint stock companies, and stumbled and restructured into successful companies within three years, and failed to be liquidated, while addressing the sagging of the careers of these companies. After previous measures by transferring surplus labor to public works.
This suggests to the reader that government banks, some of which suffer financial imbalances, are candidates for consolidation and are not more than seven banks, or to privatize, during the period of time specified by the paper, at a time when the private banking sector does not occupy more than ten percent of the area of banking transactions according to capital indicators, credit rates and deposit ratios announced, at a time when it is intended to lead the withdrawal of the chunky monetary mass and its recycling in the trading arena, and contribute to the creation of real development and the preparation of foreign capital flows, The need to support the giants "Rafidain and Al-Rasheed" with the support of the Iraqi Bank of Commerce, to take over the stage of adjustment in the mechanism of financial reform Public.
Vietnam is on its way to prosperity .. Will the next Asian miracle be?
link
Within days of China announcing its first case of the virus (Covid-19), Vietnam was on alert to stop the spread of the virus. Their contacts and anyone who came into contact with them.
The rapid isolation of the epicenters of the epidemic has kept deaths among the lowest rates in the world, at about one death per million people.
In an article published in the American "New York Times" (New York Times), writer Rocher Sharma said that containing the epidemic has allowed Vietnam to quickly resume commercial activity, and its economy is expected to be the fastest growing in the world this year.
While many countries suffer a huge economic setback that prompted them to borrow from the International Monetary Fund, the Vietnamese economy is growing at a rate of 3% annually, and perhaps most surprising of this is that its growth is driven by a record trade surplus despite the collapse of global trade.
In fact, Vietnam has been working on achieving this development for a long time. After World War II, “Asian miracles” (Japan first, then Taiwan, South Korea, and most recently China) made their way out of poverty through openness to trade and investment, and turned into a center of strength. Industrial export.
Currently, Vietnam is on the same path, but in a completely new era, the conditions that made Asian miracles possible are gone, the era of rapid globalization with growing trade and investment flows is over, and economic growth is slowing all over the world.
Under these conditions, great powers no longer ignore the strategies that previous economic miracles used to advance. Last week, the United States formally accused Vietnam of manipulating the currency and began the same investigation that sparked the tariff war with China.
Challenges The
writer believes that the biggest threat lurking in the continuing growth of Vietnam is the authoritarian party that has ruled the country for nearly half a century. In the absence of opposition, autocrats can impose very rapid growth, but their unbridled political whims and obsessions often generate chaotic boom and bust cycles, which impede development.
All of these hurdles make what the unusually inept authoritarian regime has achieved in Vietnam so far more impressive, but also more difficult to make sustainable.
Announcement
During its prosperous years, the first Asian miracles achieved annual export growth of nearly 20%, equivalent to double the average in low or middle income countries at that time, and Vietnam has maintained the same growth rate for 3 decades.
Even with the decline in global trade in 2010, Vietnam’s exports grew by 16 percent annually, which is by far the fastest rate in the world, and three times the average in developing countries.
While other emerging countries spend lavishly on social welfare in an attempt to appease voters, Vietnam allocates its resources to preparing infrastructure for exports, by building roads and ports to transport goods abroad and building schools to educate workers, and the government also invests about 8% of GDP annually in New construction projects, Vietnam currently scores the highest for the quality of its infrastructure of any country at a similar stage of development.
Vietnam directs foreign investment in the same direction. Over the past five years, foreign direct investment has averaged more than 6% of Vietnam’s GDP, the highest rate of any emerging country.
Most of these investments are directed towards building manufacturing facilities and the associated infrastructure, and most of them are currently flowing from sister Asian countries, including South Korea, Japan and China. In other words, old miracles help build new ones.
Vietnam in its era of prosperity
Vietnam has become the preferred destination for export manufacturing companies, leaving China looking for cheaper prices. The average annual per capita income in Vietnam has increased five times since the late 1980s, reaching nearly $ 3,000 per person, while the cost of labor is still the same. Half the labor cost is in China, and the workforce is remarkably well-educated, given the income bracket.
This qualified workforce is helping Vietnam climb to the "top of the pyramid," perhaps faster than any competitor to manufacture increasingly sophisticated goods. Technology has overtaken clothing and textiles as the leading exports to Vietnam in 2015, and they account for most of this year's record trade surplus.
In the era of protectionism, Vietnam is also a communist champion of open borders, with more than a dozen free trade agreements signed, including the historic one recently concluded with the European Union.
But can Vietnam continue to succeed, despite potential obstacles such as shrinking population, declining trade, and an authoritarian government tightening its grip on power? Most likely, it could happen. Although demographic growth of the working-age population has slowed, most Vietnamese still live in the countryside, meaning that the economy can continue to grow by shifting workers from rural areas to work in urban areas. Over the past five years, no major country has doubled its share of global exports more than Vietnam.
So far, the government of Vietnam has not made the fatal political mistakes that usually hinder economic development in autocratic states, and is making autocratic capitalism work well, through open economic policies and sound financial management.
The vast majority of post-war economies that grew by leaps and bounds or collapsed were managed by authoritarian governments, and Vietnam has maintained robust growth so far away from classic excesses such as large government deficits or public debts.
One potential problem is that after several rounds of privatization, the government no longer owns only a handful of companies, but they are huge and account for nearly a third of economic output, as they did a decade ago. And should any problem arise, these bloated government companies responsible for the many bad loans in the banking system would be their source.
It is reported that the growing debt also led to the outbreak of financial crises that put an end to sustainable growth in Japan, South Korea and Taiwan, and it is now overcoming China as well. Indeed, any development path carries risks, but Vietnam at present looks like a miracle of a bygone era, making its way to prosperity.
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.
here.
The currency auction total sales amount $ 192,069,660.
including $ 23,800,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
10-19-2020 Intel Guru RayRen98 WAITAMINUTE - DIDN'T KUWAIT DENY REVALUING THEIR CURRENCY...AND THEN REVALUED IT? [They sure did Ray...had some friends who missed out because they said they weren't and did. They had already turned in their currency when it revalued by less than 1 week.]
10-18-2020 Intel Guru Frank26 ...deep in my heart I've always felt that the day we see the HCL within breaths away you will see the new exchange rate...
10-18-2020 Newshound Guru Pimpy ...I cannot tell you why there is so much movement between governments that involve the purchasing of Iraqi dinar. We don't know why but what I can tell you is when I tell you that governments are buying Iraqi dinar they are buy BUYING Iraqi dinar! ...There's a lot of countries that are buying it for some reason. There's rumors that it's going to be the "poor man's" reserve dollar... there's no real "where are we?" It's kind of really up in the air. But IMO it can't stay this low in value. It's impossible. It just can't function this way.
10-18-2020 Intel Guru RayRen98 SATURDAY - BANKERS AND TREASURY HAD ANOTHER "POW WOW" THIS MORNING ... ♪♫•*¨IT'S GETTIN' HOT IN HERE...!!!¨•*♫♪ AFTER WAITING FOR US ALL DAY, BANKERS WENT HOME TODAY DISAPPOINTED...THAT THEY HAVE TO RETURN EARLY IN THE MORNING...GEE, I WONDER WHY? BANK EXCHANGE "CALL CENTER" EMPLOYEES ARE BOTHERED THEY HAD TO WORK TODAY...AND TOMORROW 2. WE'RE GETTING REPORTS THAT BANKING EMPLOYEES ARE BOTHERED ABOUT BEING SHORT-HANDED AND DEALING WITH THOSE WHO ARE NOT COMPLETELY TRAINED. IT IS BELIEVED THAT SOME BANKS (IF NOT ALL) WILL HAVE A "RANGE" OF RATES FOR THE CUSTOMER BASED ON FUTURE COMMITMENTS WITH BANK PRODUCTS AND SERVICING.
10-18-2020 Intel Guru Frank26 ...for the international world of investors for them to see this oil and gas company and the white papers introduced to parliament all in one day it will launch the economic reform in Iraq along with the monetary reform because they will be doing something with that soon and it will also allow them to have the HCL enacted so they can get their percentage rights from the oil and minerals in the ground. I'm excited can't you tell?
10-18-2020 Newshound Guru Pimpy ...I want to show you guys something because it's very important because even in Iraq they're talking about it now...there is a ton of concern about who wins our election... Article: "In Iraq...3 files await the outcome of the U.S. Elections" ...Biden is going to continue Obama's policies...when is the last time we saw a terrorist attack in the United States or even anywhere around the world? How many times has that happened under Trump? Let that sink in for a second...I just wanted to share this news because there is concern. There's a lot of people that really do want Trump to win. They do not want all the terrorist attacks to start up again all around the world...
10-18-2020 Newshound/Intel Guru Mnt Goat Ok so the status of the reinstatement has not changed. We are still waiting for articles to come out to verify earlier news that they are now re-educating the citizens in the newer denominations and coins. It is hard to trust sources even in Iraq as they are lying to us now. So we must verify and double check. Let’s all be patient and see how this plays out. It is mid-October and so we have to see something soon.
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