WOTS TUES FEB 2 21

 WOTS TUES FEB 2 21

The Markets:

The Asian markets closed up  NIK by .97%  HSI by 1.23% SHANG by  .81%

The UK markets are currently trading in the  from .55% to 1.69%

Our futures are currently trading in the green the DOW at 30350  by .80%  SNP at 3797 by .84% NDX at 13345 by .83%

Precious Metals:

Gold is red at 1847   Silver is red at 27.79  Copper is red at 351 Platinum is red at 1105

Brent is 57  WTi 54

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Symbol	Bid	Ask	High	Low	Open	Change	Time
USD/IQD	1434.8000	1484.4000	1456.0000	1456.0000	1456.0000	-1.7000	00:13
USD/VND	23027.0000	23030.0000	23021.5400	23020.5500	23020.5500	2.8800	02:03
USD/CNY	6.4562	6.4584	6.4688	6.4482	6.4669	-0.0107	05:18
USD/KWD	0.3025	0.3035	0.3025	0.3024	0.3025	-0.0001	04:54
GBP/USD	1.3674	1.3675	1.3710	1.3657	1.3660	0.0013	05:25
USD/IRR	42000.0000	42210.0000	42097.5000	42097.5000	42097.5000	-914.4000	07:13
USD/IDR	13998.0000	14037.0000	14064.0000	13994.0000	14043.0000	-40.0000	05:22

Things in the News:

TSA authorized to fine passengers for bare-face... 
Manhattan Office Supply Hits Record High With Skyscrapers Empty...
Superstar Cities in Trouble... 
Only 38% of nursing home workers accept dose... 


NASA, China, UAE Probes Race to Mars...

Dubai creates 'space court' for out-of-this-world disputes...     

Iraqi Articles:

The President of the Republic meets with members of Parliament on the 2021 budget

link

On Tuesday, the President of the Republic, Barham Salih, discussed with the Chairman of the Finance Committee Haitham al-Jubouri and members of the Committee the importance of approving the budget in a manner that guarantees the interests of Iraqis.   

The media office of the President of the Republic said in a statement that Al-Iqtisad News received a copy of, that “the President of the Republic, Dr. Barham Salih, received the Chairman of the Finance Committee, MP Haitham Al-Jubouri and the members of the committee, where they discussed the economic challenges facing the country, in addition to the issue of the financial budget and the importance of passing it. In a way that guarantees the rights of citizens. "   

According to the statement, "During the meeting, it was stressed the importance of overcoming issues facing the approval of the budget, and taking into account ensuring that the interests of citizens are not disrupted, in addition to ensuring the rights of all governorates according to their needs and circumstances, the allocations of the petro-dollar fund, redress for victims of terrorism, displaced persons and low-income classes, and providing The necessary financial support for the security services from the army, the popular crowd, the police and the peshmerga, for the great role they play in confronting terrorism and protecting the security of citizens.  

He added, "Likewise, the efforts made by the Parliamentary Finance Committee and members of the House of Representatives in discussions on the budget in order to pass it in a manner that guarantees the rights of all citizens and all governorates were praised."   

The President of the Republic stressed that "these considerations must be present in the budget and a path in the debate about it, and the need to exclude political issues in it, and to focus on the need to reach just and legal solutions that preserve the rights of the Iraqi people, employees and retirees throughout the country, including the Kurdistan region."   

Regarding the outstanding issues between the federal government and the Kurdistan Regional Government, Saleh pointed out "the importance of reaching radical and serious solutions within the framework of the constitution, which is accompanied by a real reform process on the ground as it is a fundamental pillar for finding a final solution to the suffering and problems of all citizens in the country and the Kurdistan region."   

The President of the Republic pointed out that "achieving economic and security stability and providing decent living conditions for citizens is closely linked with continuing work to combat corruption, closing its outlets, recovering smuggled funds, and holding the corrupt accountable."

An economist talks about 3 jumps that the dollar will witness against the Iraqi dinar

link

The economic expert, Rasim Al-Aqidi, said today, Monday, that the exchange rate of the dollar in the Iraqi market will witness 3 .successive jumps, before it reaches the price of 1600 dinars per dollar The exchange rate of the dollar in the 2021 budget was set by the government at 1450 dinars, and it has witnessed fluctuations in" ".terms of ups and downs, but in any case, the decision to spend in the budget will not change

Al-Aqidi added, that the decision to change the exchange rate, "came to prevent neighboring countries from benefiting from the old exchange rate, which was an understatement, and to push most of the banks of neighboring countries or political forces to share " .economic interests, obtain Iraqi cash and collect the largest value of the dollar in past years as it is Hard currency

He continued, "The dollar exchange rate will jump to 1490 dinars after the budget is approved, and the exchange rate set by the government is fixed at 1450, then it will witness another rise after the launch of 50% of the financial allocations for projects and ministries, and it reaches from 1520-1550 and then witnesses a third increase. Of its kind when the exchange begins, that is, whenever cash is pumped into projects, whether investment, loans or salaries, it will pay to increase the withdrawal of the dollar, because the " .rates of purchase of materials from the various markets of all kinds will rise at higher rates

The economic expert pointed out that "a file to import will push forward in the rates of recovery of the dollar, and then the dollar ".exchange rate will escalate to perhaps 1600 dinars in exchange offices

Expectations of a significant increase in oil prices in 2021

link

American investment bank "Goldman Sachs" expects that oil prices will rise to $ 65 a barrel by next July, in light of a shortage of crude supplies in the market and a slow recovery of demand for crude.
The bank said in a note, that data indicate a deficit of 2.3 million barrels per day in the fourth quarter of 2020, against the background of high demand and a decline in supplies from producers outside the "OPEC +" group.
The bank expects a deficit of 900,000 barrels per day in the first half of 2021, a level higher than its previous forecast of 500,000 barrels per day.
The bank said that this could help raise Brent crude to $ 65 a barrel by next July, and for comparison, Brent surpassed $ 55 on Monday.
The bank expected demand to rise by 5.3 million barrels per day in the six months to next July, down from 6.8 million barrels per day in its previous forecast.
Saudi Arabia pledged to implement additional voluntary cuts to oil production in February and March 2020, while most members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies within the framework of the "OPEC +" group agreed to keep production steady.

Deputy for Al-Fateh: Parliament will dissolve itself next August

link

the representative of the Al-Fateh Alliance, Abdul Amir Taiban, confirmed that the House of Representatives will dissolve itself next August, while noting that the United Nations oversight of all previous elections was only for the media.

Taeban said that all previous elections were supervised by the United Nations, stressing that there is skepticism about the results of all previous elections, despite the international supervision.
He added that the UN’s supervision of the elections was informational only, calling for an effective UN role in monitoring the elections.

He pointed out that one of the conditions for forming the Al-Kazemi government is to prepare for early elections, stressing that the Election Commission was not ready to hold the elections at the previous date, and requested to postpone them to another date.

Taeban indicated that the parliament has provided all the means to the government in order to hold the elections, noting that Parliament will dissolve itself next August, that is, two months after the elections are held according to the constitution.

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.   

http://www.cbi.iq/

Click on the link above for the latest update.

The CBI for rate is 1460

The currency auction For  February 2, 2021 total sales amount $ 68,281,998. 

including   $100,000. CASH 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today

Value Traded: not updated for today 

https://www.dinarguru.com/

2-2-2021   Newshound Guru Jeff   Article:   "Parliamentary Finance meets with official from the World Bank"  In the past they've never really had the World Bank and the IMF involved with budgets.   The reason they have the World Bank involved with this one is because this budget is now linked to the rate change.  It has reforms in it which the World Bank has financed.  Because they financed the reforms they need to monitor what happens in Iraq financially because they have a vested interest...payments  can only be paid back to the World Bank with internationally recognized currency. 

2-1-2021   Newshound Guru MilitiaMan  Article:  "Sairoun: Raising Or Lowering The Exchange Rate Of The Currency Is The Exclusive Authority Of The Government"    The reducing the price of the local currency is not going to happen again. 1182 Didn't work 1190 didn't work nor will 1460 if left with out deleting the zeros from the exchange rate. imo

2-1-2021   Newshound Guru NORV  [aka Kaperoni]   ...there is no intent to redenominate the dinar...First it would take parliament approval, and second their would be no reason to encourage exchange and settlement among middle east countries (Buna) and eventually the world if they were planning to redenominate (LOP) the dinar.  Not to mention, Iraq has had less than 3% inflation for the past 20 years. The plan for Iraq is like other middle east countries which is to diversify, create stability, employment and a private sector, foreign investment to improve the economy and create economic growth...only then the dinar can appreciate as a result. There has never been one indication that the IMF would support such an event, in fact they speak of allowing the currency to rise. Even the recent devaluation was not random, but an attempt to preserve the central banks reserves as well as meet compliance with the IMF. It is well documented...

2-1-2021   Newshound Guru Jeff   Article quote:  "the idea of raising the price of the dollar is an international policy shared by the Ministry of Finance, the Ministry of Planning and the Iraqi government, especially the International Monetary Fund." ...since they devalued the currency on December 20th the World Bank and the IMF have been putting a big emphasis on Iraq bringing forth this rate change, get the reforms going and improve Iraq's economy...

2-1-2021   Intel Guru MarkZ   [via PDK]   [Are we there yet?...]   Well everybody is in place…Everybody I know that is involved with groups at the upper end is in place. We do not know the timing.  This is a “when” not an “if”...just awaiting someone to pull the trigger.  ...News out of Iraq…they are openly talking about their new budget and the white papers. In news articles they are talking about the need for a higher value  for their currency in order to meet the requirements of their new budget.  They are clearly preparing people for this and for the lower denominations and how their Qi cards work.

2-1-2021   Newshound Guru Jeff  Article quote: "Today Sunday the World Bank confirmed that changing the exchange rate gives the state the ability to increase its revenue..."   ...They are not talking about decreasing.  They're talking about increasing...if they keep the exchange rate lower, imports are going to cost more.  If they increase the exchange rate imports cost less...

2-1-2021   Newshound Guru MilitiaMan  Article:  "Advisor to the Prime Minister: Creating new electronic payment cards that will enhance the advancement of services provided to citizens"   DIGITAL MONEY!!! I seriously like to hear this. They told us about this... It is and was part of the plan of a level playing field. Get ready to be cashless than before. They told us there would be a smaller amount of currency in circulation. Well when they adjust the exchange rate accordingly they will need less cash. As it will be worth more...imo

2-1-2021   Newshound Guru MilititMan  Article:  "Al-Yasiri: The Central Bank's initiatives have contributed to employing the unemployed and moving stalled projects"  Quote:  "the aim of changing the exchange rates is to support the Iraqi product in competition with imported products...He explained that "some sectors will respond immediately to this change..."  I would have to agree that the response will be immediately. They change the exchange rate and the markets respond in like kind. And in a big way. Contracts will require it!!! imo.. The news is off the charts good...the way they are talking today and yesterday. Comprehensive development process have been on going and we are now finally see the fruit of it all! imo

Catnip's Corner:

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ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi receives the Iraqi Yezidi activist Nadia Murad 

The Prime Minister, Mr. Mustafa Al-Kazemi, received today, Monday, the Iraqi Yazidi activist Nadia Murad, a survivor of ISIS terrorism.

During the meeting, His Excellency stressed the importance of the role played by female Yazidi female survivors in informing the world about what they were subjected to at the hands of the criminal ISIS gangs, as well as mobilizing world public opinion in favor of the issues of peaceful coexistence and community unity that were threatened by the criminal organization.

His Excellency also stressed the importance of the role of Yazidi citizens in the reconstruction of their historical areas of residence, especially after the recent successive return in large numbers.

Al-Kazemi said: The government spares no effort to facilitate this return and provide reasons for stability, and that efforts are currently focused on supporting reconstruction, operating water projects, building schools and medical services, mainly for all areas destroyed by terrorism.

For her part, the Iraqi Yazidi activist, Nadi Murad, expressed her thanks for the government's efforts to achieve the goal of restoring life to normal in Sinjar and its surroundings, stressing that reconstruction is the basis for achieving lasting stability.

Media Office of the Prime Minister

1-Feb-2021

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ARTICLE 1-B (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi receives the Secretary-General of the Gulf Cooperation Council 

The Prime Minister, Mr. Mustafa Al-Kazemi, received today, Monday, the Secretary-General of the Gulf Cooperation Council, Mr. Nayef Al-Hajraf and his accompanying delegation.

During the meeting, the Prime Minister affirmed that Iraq seeks to strengthen its relations with the countries of the Gulf Cooperation Council, and to achieve integration with brothers in the GCC countries in various political, cultural, economic and commercial fields, especially since these relations have not yet reached what Iraq aspires to, as he affirmed his sovereignty. The necessity of expediting the electrical connection file and enhancing trade exchange.

Mr. Al-Kazemi indicated that Iraq welcomes and blesses the efforts of the Gulf reconciliation, stressing the need for dialogue to be the basis for solving the outstanding problems between the countries of the region, stressing Iraq's belief in the importance of dialogue, especially since the current regional and international developments will have repercussions on all countries in the region, which is what It is imperative that she work together according to the principles of dialogue to avoid them.

His Excellency stressed the importance of following up the investment file and the pledges of the donors conference held in Kuwait, because of their impact on achieving economic, social and security stability in Iraq, which will be reflected on the security of the region in general, and he pointed out that this coincides with Iraq's efforts to fight terrorism, and the campaign Continuing to pursue his remnants.

For his part, the Secretary-General of the Gulf Cooperation Council, Mr. Nayef Al-Hajraf, affirmed the council’s support for Iraq in achieving its security, stability and sovereignty, which was embodied in the Al-Ula Declaration issued by the recent GCC summit, and affirmed that the GCC states commend Iraq’s successful experience in combating terrorism, as he expressed He regrets the civilian casualties, especially in the cowardly terrorist incident in Tayaran Square.

Al-Hajraf also indicated that the electrical connection file has reached advanced stages, and that the GCC states are serious about continuing to hold bilateral meetings in order to take it forward.

Media Office of the Prime Minister

1-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

Al-Kaabi: The next stage is one of the most important milestones for rebuilding Iraqi confidence in the political process

01/2/2021 16:53 • 

[Baghdad-Where]

First Deputy Speaker of Parliament, Hassan Al-Kaabi, confirmed, on Monday, that the next stage is one of the most important stations on which to rebuild the confidence of Iraqis in the political process, while calling for benefiting from Norway's expertise in the field of oil, energy and gas fields investment.

"The latter received the ambassador of the Kingdom of Norway to Iraq, Tony Elizabeth Backfold," a statement by Al-Kaabi’s office said.

Al-Kaabi said, "The State of Norway has good attitudes towards the government and people of Iraq, as it has contributed to sending humanitarian organizations at critical stages that the country has gone through, and to participate in many programs to enhance local expertise in the security, economic and electoral fields," noting that "Iraq still needs this. The support and assistance is welcomed and admired by the Iraqis. "

In the field of preparations for the upcoming elections, he stressed that the next stage will be one of the important stations through which the Iraqi citizen can restore the confidence of the Iraqi citizen in the political process, and here all political partners must work to contribute to the conduct of fair and transparent elections, stressing that there are a number of election-related challenges facing the country. Represented by the electoral centers outside Iraq and their costs, the problem of the displaced and the displaced, explaining that everyone now believes in the independence and integrity of the Electoral Commission, and

Al-Kaabi called for "the possibility of benefiting from Norway's expertise in the field of energy and oil, specifically the exploitation of associated gas and investment in this sector as well as sending experts to unify views in Current gas field investment. "

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ARTICLE 4

Al-Maliki to the region’s delegation: Oil problems cannot be solved without this law

01/02/2021 15:55 

[Baghdad-Where]

Head of State of Law coalition, Nuri al-Maliki, made it clear on Monday that oil problems cannot be solved without this law

Al-Maliki's office said in a statement that "the President of the State of Law Coalition received in his office a delegation of the Kurdistan region headed by Vice President of the Kurdistan Regional Government, Qubad Talabani, and the meeting dealt with developments in the political and security situations in the country, as well as issues related to the federal budget and the ongoing dialogue between the federal government and the regional government regarding it." .

Al-Maliki pointed to "the importance of continuing the dialogue to reach an agreement that ends the debate on contentious issues under the constitution and the law."

Al-Maliki stressed that "the discussions with the federal government cannot be resolved without the adoption of a national law that guarantees the equitable distribution of natural wealth to all components of the Iraqi people."

The head of the State of Law coalition called for "the necessity of concerted efforts to reach radical solutions to the outstanding issues between the Kurdistan region and the federal government through legislation of the oil and gas law, especially as the country is preparing to hold early elections with integrity and transparency in order to form a strong government capable of meeting the demands of all Iraqis." .

In turn, "the head of the Kurdistan Region delegation, Qubad Talabani, stressed during the meeting that there are many problems that require cooperation and agreement from everyone to solve them in the House of Representatives.

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ARTICLE 5

Representative integrity: Iraq is in danger, and the situation requires a new political contract

01/02/2021 15:31 • 

[Baghdad-Where]

The Parliamentary Integrity Committee confirmed that corruption in Iraq has taken on political legitimacy and has become a pandemic, while it indicated that standing against corruption requires a new political contract.

A member of the committee, Attorney Alia Nassif, said, according to the official agency, that "the legislative procedures in the face of corruption are of a high level," pointing out that "the supervisory authorities such as the Office of Financial Supervision, the Integrity, Judiciary and Public Prosecution Authority are playing their role in a distinguished manner."

Nassif added, "The House of Representatives exercises its oversight role and sets laws and legislation to confront corruption, but the defect in implementation."

She pointed out, "Some of those who have an extension in the House of Representatives have become a cover and protection for corruption and the corrupt," noting that "corruption has taken on political legitimacy and has become a pandemic and it is difficult to stand before it."

And stressed, "the need to remove those who take ministries and institutions as a tool to implement the agendas," stressing that "Iraq is in danger and the situation requires a new political contract through elections to stop the pandemic of corruption."

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