Saturday, February 13, 2021

WOTS FRI 2 12 21

WOTS FRI 2 12 21

Other articles:

Representative Economy: The vote on the budget law in the middle of next week

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The Parliamentary Economy and Investment Committee confirmed, on Friday, that the vote on the budget law is in the middle of next week.
Committee member Mayada al-Najjar said in an interview with the Iraqi News Agency and followed by "Al-Eqtisad News", that "the atmosphere so far is positive for voting on the draft general budget law," noting that "after the meetings that lasted for more than a month on the draft budget law, the content was agreed upon and not Remaining other than the share of the Kurdistan region and some tables. "
He pointed to "the possibility of presenting the law for a vote and passing it next week, on Monday or Tuesday."

The Parliamentary Finance Committee had announced earlier, the most prominent aspects of its meeting with Prime Minister Mustafa Al-Kazemi and the ministers.

In a statement received by Al-Eqtisad News, the committee stated that it “rewrote the budget strategy according to a comprehensive economic vision after what came from the government with a financial vision only, and it also handed over a copy of the budget amendments it had made to the government.”

She added that "the pressure of expenditures and the maximization of revenues were scientifically studied and came after a meeting with most of the government ministers and holding more than 302 hosting of various state institutions."
The Committee pointed out that " the meeting also included the support of the private sector and take bold steps to deal with it and support industrial and agricultural banks and real estate to achieve comprehensive development in these sectors", as well as the exchange of views between the legislative and executive out branches unified vision of what is in the public interest.

" The Committee noted during the statement That it "will directly supervise the implementation of the budget to ensure the implementation of its vision."
And she continued, "Thinking outside the fund and with technical economic dimensions to transform ministries from consumers who burden the public treasury to producers," she said.

The Digital Media Center calls for universalizing the online payment experience

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The Digital Media Center (DMC) stressed the need to circulate the electronic payment experience in Iraq to allow citizens to make purchases safely and quickly, as well as limit the transmission of the Corona virus via paper currencies, as well as the benefits achieved to Iraqi banks.

The center praised the presence of many points of sale in the malls that supported the electronic payment feature via electronic payment cards, calling for support for more payment applications such as Apple Pay and the electronic payment services provided by telecommunications companies operating in Iraq.

The Center noted that the generalization of the electronic payment experience will encourage citizens to settle their salaries in banks and spend what they need only through the electronic payment mechanism, thus providing financial liquidity to banks that support electronic payment systems.

The center notes the importance of activating electronic payment systems in reducing corruption and eliminating informal economic activities, and thus the entry of individuals within the licensed systems operating in the country, as well as its importance in raising the rates of investment in the country, increasing production and providing more job opportunities.

The Center also confirms that electronic payment systems in Iraq still need more support and legalization and reduce the chaos of benefits imposed on individuals, which may reach many times what is imposed in neighboring countries, and banks should be obligated to increase the number of ATMs and payment devices in proportion to the population density.


Below is the regular WOTS report for Friday

The exchange rates of the dollar against the Iraqi dinar recorded, today, Friday (February 12, 2021), a slight increase during today's trading in the local markets, offices and exchange.

The prices of selling the dollar in Iraqi banking are as follows:

The sale price of the dollar is 146,500

The purchase price of the dollar is 145,500



The Markets:
Asian Markets some are closed due to Chinese New Year the Year of the OX
UK markets are currently trading mixed in the green  from .05% to .21% trading in the red from .0% to .47%
Our futures are currently trading in the red the  DOW at 31298 down by .19% SNP at 3902 down by .24% NDX at 13701 down by .20%

Precious Metals:
Gold is red  at 1820 Silver is green at 27.21 Copper is red at an 8 year high 375  Aluminum is green at 2080  Platinum is red at 1231 
Brent 60 WTi 57

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1459.0000  1464.0000 1457.6000 1457.6000 1457.6000  0.1000 00:11
 USD/VND  23010.0000  23020.0000 22993.1900 22993.1900 22993.1900  1.3000 01:30
 USD/CNY  6.4572  6.4592 6.4575 6.4569 6.4569  0.0002 00:11
 USD/KWD  0.3019  0.3029 0.3021 0.3021 0.3021  0.0000 00:11
 GBP/USD  1.3786  1.3787 1.3816 1.3775 1.3813  -0.0028 05:10
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  -914.4000 07:13
 USD/IDR  13980.0000  13990.0000 13998.0000 13937.0000 13976.0000  4.0000 05:10
Things in the News:



Iraqi Articles:

Representative Economy: The vote on the budget law in the middle of next week

link

The Parliamentary Economy and Investment Committee confirmed, on Friday, that the vote on the budget law is in the middle of next week.
Committee member Mayada al-Najjar said in an interview with the Iraqi News Agency and followed by "Al-Eqtisad News", that "the atmosphere so far is positive for voting on the draft general budget law," noting that "after the meetings that lasted for more than a month on the draft budget law, the content was agreed upon and not Remaining other than the share of the Kurdistan region and some tables. "
He pointed to "the possibility of presenting the law for a vote and passing it next week, on Monday or Tuesday."

The Parliamentary Finance Committee had announced earlier, the most prominent aspects of its meeting with Prime Minister Mustafa Al-Kazemi and the ministers.

In a statement received by Al-Eqtisad News, the committee stated that it “rewrote the budget strategy according to a comprehensive economic vision after what came from the government with a financial vision only, and it also handed over a copy of the budget amendments it had made to the government.”

She added that "the pressure of expenditures and the maximization of revenues were scientifically studied and came after a meeting with most of the government ministers and holding more than 302 hosting of various state institutions."
The Committee pointed out that " the meeting also included the support of the private sector and take bold steps to deal with it and support industrial and agricultural banks and real estate to achieve comprehensive development in these sectors", as well as the exchange of views between the legislative and executive out branches unified vision of what is in the public interest.

" The Committee noted during the statement That it "will directly supervise the implementation of the budget to ensure the implementation of its vision."
And she continued, "Thinking outside the fund and with technical economic dimensions to transform ministries from consumers who burden the public treasury to producers," she said.

 

Corona lowers oil prices again

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Oil prices fell on Friday after record gains in recent days, after OPEC and the International Energy Agency (IEA) announced that renewed closures and the emergence of new strains of coronavirus would limit the chances of a rapid recovery of demand.

Brent crude futures fell 0.74% to $60.69 a barrel, while U.S. West Texas Intermediate (WTI) fell 0.77% to $57.79 a barrel, Reuters reported.

Brent rose yesterday for the ninth straight session, while West Texas Intermediate rose for eight straight days, and crude was heading toward the longest gain since January 2019.

Both crudes closed last Wednesday at their highest level since January 2020.

Edward Moya, senior market analyst at Oanda in New York, said crude prices were suspended for a while after the February wave climbed to levels that some analysts saw as not within reach for two years from now.

The Foreign Minister and his Greek counterpart discuss the activation of economic and investment exchange

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Foreign Minister Fouad Hussein discussed with his Greek counterpart Nikos Dendias, on the sidelines of the ministerial meeting of the countries of the Middle East and the Eastern Mediterranean, held in the capital, Athens, ways to activate joint economic and investment exchange.


NO AUCTION or CBI UPDATE TODAY it is FRIDAY and THEY ARE CLOSED

GURU CHATTER

2-12-2021   Intel Guru MarkZ   [via PDK]   [Will you still post the 800 numbers Mark?]  Im not sure there will be 800 numbers or secure links…I am told its now going to be a secure link…with a backup number in case the link does not work. I have been told by two different banks that I will get two different secure links from them and that I will be able to share with you guys. These are two of the top four banks in the country   [Note: Always consult your financial advisors at the appropriate time.  Gurus warn be extraordinarily careful about links, 800# and exchange locations floating around the internet.]
2-11-2021   Newshound Guru Adam Montana   ...Iraq has a majority of the OIL in the world.  There's no way in heck that the WORLD will just pretend that oil isn't there.  There is NO WAY that they can't use their resources to "buy in" to anything they want.  So... what's with all this talk about Iraq not being able to use USD?  I'll answer.  It's an idle threat, but a promising one.  It means Iraq has one more reason to up their game, Iraq has yet another reason to RV, and the world has one more reason to accept the "NEW" rate, even if it surprises everyone... it's going to happen when it happens, and we are ready and here!  [post 2 of 2]

2-11-2021   Newshound Guru Adam Montana    ...there is TALK that Iraq isn't able to use USD anymore. Or they won't be able to, or they shouldn't, or whatever...If Iraq is currently unable to use USD (that's not entirely the case at the moment, but follow along) then they couldn't conduct auctions, they couldn't trade anywhere that uses the USD (that's everywhere), and they would basically fall into absolute poverty and die of malnutrition.  Does that sound like a serious possibility? Of course not... [post 1 of 2....stay tuned]

2-11-2021   Intel Guru MarkZ   [via PDK]   I have talked to a number of “whales” or big investors…I have talked to quite a few and they have received a notice to pack their bags and prepare for travel as early as this weekend for redemption and exchanges…this does not mean it’s happening this weekend but that we are at a higher level of alert then we have been in 6-8 years…imo… I don’t think I have seen this much activity on the group side or redemption side since 2012. They all are all ramped up and ready.

2-11-2021   Intel Guru Frank26   If they [Iraq] can't use the American dollar, they can't use foreign currency, they can't use any other type of borrowing system, they can only use their currency but it has no value and they are about to explode economically and the whole international world is inviting them to be a part of it with their currency.  Which currency?  Not the American dollar.  Not any foreign currency.  Their currency of international status.  That part is coming.

2-11-2021   Newshound/Intel Guru Petra   I want everyone to understand that they are throwing around a lot of confusion.  A huge amount of confusion...I believe we are in the end days of this...

2-11-2021   Intel Guru MarkZ   [via PDK]   I am hearing pretty good things from Iraq…I finally talked to some of my contacts there. They have passed all their budget stuff and I am told that they expect the final vote on the budget on Saturday. The chatter from Iraq is absolutely fantastic that we should see something as early as Saturday but for sure in the month of February on the new value...

2-11-2021   Newshound/Intel Guru Walkingstick  [via Guru Frank26]   Lifting the 3 zeros from their exchange rate should be a hot topic in articles in the near approximate future.

2-11-2021   Intel Guru Frank26   In case you missed it the CBI stopped the auctions...[Monday].  They can't use the American dollar anymore...So what's left to use?  What's left is the Iraqi dinar.  But the Iraqi dinar has no value - not only for the citizens but also for the government to run its country especially with the budget at those astronomical numbers.  The IMF knows this too.  And the World Bank knows this too.  Both of them have said very clearly Iraq is in the process of raising the value of their currency...the stoppage of the auctions is a step of the monetary reform of the Iraqi dinar...it is a crucial step in adding value, lifting the 3 zeros from their exchange rate and it's being done. 

2-11-2021   Intel Gurus Texas Snake & MarkZ   [Do you have any idea where other people will be able to exchange around the world?]   I think HSBC will be one of the main International banks…Also Bank of London is involved... In Australia I am told its HSBC - the Melbourne location.  Also Scotia Bank and Royal Bank in Canada. HSBC in S. Africa. Only 2 main cities for exchanges…There will be regional banks at many locations that will correspond and be connected to those major banks for people to exchange into.
Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)

The Supreme Commission for Coordination between the Governorates holds a meeting chaired by the Prime Minister, Mr. Mustafa Al-Kazemi, and issues a number of decisions

Today, Thursday, Prime Minister Mustafa Al-Kazemi chaired a meeting of the High Authority for Coordination between the Governorates, during which developments of the events in the country were discussed, and a number of important issues and files related to the work of the provinces were discussed.

Mr. Al-Kazemi stressed the need for specific work and overcoming the obstacles that prevent the provision of services to citizens.

His Excellency directed government agencies in all governorates to follow up on the daily complaints of citizens, and to make exceptional efforts to provide the best services that the citizen deserves.

After the meeting discussed the topics on the agenda, a number of decisions were issued:

First / Assigning the Secretariat of the Supreme Commission for Inter-Governorates Coordination to coordinate between the General Secretariat of the Council of Ministers and the Ministry of Finance and the governorates, in order to reach effective solutions to open local resource accounts for the governorates.

Second / According to Article 44 / Second / 7 of the Law of Governorates not organized in a Region No. 21 of 2008 as amended and Article 29 of Federal Financial Management Law No. 6 of 2019 as amended, the Ministry of Finance disburses the dues of the border governorates From the imports of its outlets according to the available imports.

Third: The Ministry of Finance will finance the petro-dollar fund and the visitor dollars and transfer them to the concerned governorates.

Fourth / Forming a committee headed by the Secretariat of the Supreme Commission for Coordination between the Governorates, in coordination with the General Secretariat of the Council of Ministers and the relevant ministries, to present a clear vision regarding the completion of the transfer of departments and jobs.

Fifth: Assigning the secretariat of the Supreme Commission for Inter-Governorates Coordination, in coordination with the National Investment Commission, to set up a mechanism for providing suitable real estate belonging to the municipalities to establish investment projects on them.

Sixth / The ministries covered by Article (45) of the Governorates Not Organized in a Region Law No. (21) for the year 2008 as amended, are obligated to implement Cabinet Resolution No. (62) for the year 2019, through the governorates submitting statements of cars and buildings to be reallocated.

Seventh: The governorates allocate a percentage of the operating budget allocated to Section (1) belonging to the Governorate’s Office to the Governorate’s Administrative and Financial Affairs Department to enable it to perform its duties and tasks.

Eighth / Authorizing the governor the power to nominate (3 people) to be selected according to the controls and conditions required to occupy the positions of directors of the departments covered by Article (45) of the Amended Governorates Law No. The aforementioned, and within the period specified by the law, which is (15) fifteen days from the date the names of the candidates arrive in his office, and in the event that the competent minister does not answer, the governor may, after the prescribed period, choose one of the candidates for the aforementioned position.

Ninth / The Ministry of Finance reallocated the frozen funds that are responsible for collecting the (outgoing) Najaf Governorate Council to the governorate.

Media Office of the Prime Minister
11-Feb-2021

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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

Real estate prices rise in Diyala by 10 percent, and a local official explains the reasons
10/2/2021 21:01 •
[Diyala_ain]

A government official in Diyala confirmed, on Wednesday, that the province’s real estate has increased by 10%. The mayor of Baquba district, Abdullah Al-Hayali, said, "The prices of residential real estate in Baqubah and other city centers have witnessed a recovery through an increase of more than 10% for various reasons, most notably security stability, the flow of financial loans and the desire of many in what is known as housing investment."

Hayali added, "Baquba topped the cities of Diyala in terms of buying and selling, especially in neighborhoods with integrated services, whose real estate prices reach several hundreds of millions, stressing that stability has prompted the movement of rigid financial assets of many and push them to invest their money in the residential sector."

He pointed out that "Baquba in general suffers from a housing crisis mainly and needs more than 50 thousand housing units in order to create a balance in the market of supply and demand. Therefore, investment in this sector is profitable for many, and this is what prompted the recovery of real estate prices again."

Real estate prices in Diyala, especially Baquba, witnessed a very large recession after 2014, but soon afterwards they stabilized, but it soon fell again.

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ARTICLE 4

Parliamentary Security: The Iraqi forces are not suffering from collapse, and we do not need external support

 10/2/2021 19:00 
[Baghdad-Where]
Member of the Parliamentary Security and Defense Committee, MP Abdul Khaleq Al-Azzawi, confirmed, on Wednesday, that Iraq does not need foreign ground forces on its soil, stressing that the security forces are carrying out their duties and are not collapsing.
Al-Azzawi said that "Iraq, despite the multiple security challenges and repeated violations from time to time, which claim the lives of many innocent people, but that does not mean collapse. Rather, there are achievements made in dismantling terrorist cells and killing and arresting their leaders."

He added, "Iraq has security forces from the army, the police, the fight against terrorism, the popular and tribal crowd, all of which work within the framework of combating extremism and achieving stability, and we are strong with them." The security and stability of its citizens.

And spread in Iraq many bases in which there are soldiers from different foreign countries, especially Ain Al-Asad and Harir.
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ARTICLE 5

During his upcoming visit to Iraq ... the Pope will carry with him a rare manuscript to return to Qaraqosh

11/2/2021 13:09 • 
[Baghdad-Where]
European media confirmed, on Thursday, that the Pope of the Vatican will carry, during his upcoming visit to Iraq, a rare manuscript in order to return it to the city of Qaraqosh, east of Nineveh Governorate.
Agence France-Presse said in a report today that "the manuscript, written in the Aramaic language, was saved from the hands of ISIS terrorists during their control of the city in June 2014."
The agency added, "The manuscript, known as the Sacred Book of Sidra, which dates back to the fourteenth and fifteenth centuries, was not in a good condition of preservation, and it took 10 months to restore it, and it will soon be sent to Qaraqosh, which is one of the stations where Pope Francis will stop during his scheduled visit to Iraq in March. Next. "
And it indicated that "the manuscript that priests succeeded in saving includes the prayers on the occasion of Easter, and it represents one of the oldest books in the Al-Tahira Al-Kabir Church in Qaraqosh."
The agency pointed out, that " President of the Union of Christian Organizations for International Cooperation and Voluntary Work handed over the book to the Pope to return to his Church on this martyr land, a symbol of peace and brotherhood.

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