Saturday, March 28, 2020

WOTS FRI MAR 27 2020

WOTS FRI MAR 27 2020

The Markets:

Asian markets all closed up  NIK 3.88% 
our market futures are all set to start down  dow 2.94%  snp  after having a 3 day record since 1933 down 2.89%   NDX 2.66% 
  

Precious Metals:

brent   oil under 26
Gold is red at 1619         Silver is red at 14.49         Copper red at 217   Platinum red at 739

Favorite Currencies Forex Quotes 5:28 am

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1166.7000  1221.2000 1192.8000 1192.8000 1192.8000  -0.3000 07:09
 USD/VND  23262.2000  23989.1700 23618.0600 23599.7100 23618.0600  -47.1400 07:09
 USD/CNY  7.0916  7.0936 7.0923 7.0577 7.0730  0.0183 07:07
 USD/KWD  0.0000  0.0000 0.3149 0.3149 0.3149  -0.0002 00:00
 GBP/USD  1.2220  1.2221 1.2304 1.2130 1.2202  0.0018 07:13
 USD/IRR  0.0000  0.0000 42097.5000 42097.5000 42097.5000  97.5000 00:00
 USD/IDR  16215.0000  16234.0000 16238.0000 15851.0000 15951.0000  252.0000 07:10

Things in the News:





Iraqi Articles:
Intel: Republicans dial up pressure on Saudis to end oil price war with Russia

link
Republicans are throwing their weight behind the Donald Trump administration’s push to get Saudi Arabia to end its oil price war with Russia, which has increasingly squeezed American energy companies as the coronavirus runs rampant throughout the United States.
The top Republican on the House Foreign Affairs Committee, Rep. Mike McCaul of Texas, penned a letter to Undersecretary of State for Energy Keith Krach encouraging him to keep up pressure on Riyadh to scale back its oil output.
“I commend [Secretary of State Mike Pompeo] for emphasizing the need for global economic stability on his recent call with Saudi Crown Prince Mohammed bin Salman Al Saud, and I encourage you to keep up this pressure until we see changes,” wrote McCaul. “The Trump administration stood in solidarity with Saudi Arabia amid Iran’s attack on Saudi oil facilities last September, which was a deliberate attempt to disrupt the global economy. I ask that you remind Saudi Arabia of that support as they consider next steps for OPEC and for the Group of 20, which it currently chairs.”
Why it matters: President Trump participated in a Saudi-chaired G-20 teleconference today. Prior to the meeting, Pompeo pushed Crown Prince Mohammed on the oil price war Tuesday.
“The secretary stressed that as a leader of the G-20 and an important energy leader, Saudi Arabia has a real opportunity to rise to the occasion and reassure global energy and financial markets when the world faces serious economic uncertainty,” said State Department spokeswoman Morgan Ortagus.
Saudi Aramco announced earlier this month that it would ramp up oil production to 12.3 million barrels per day in April — a record amount — after Russia refused to cut production. Moscow has also vowed to increase its output.
McCaul noted that the price war has caused crude oil prices to spiral to below $30 per barrel.
“The ongoing COVID-19 outbreak is presenting enough challenges for the United States without the added effects of rock-bottom oil prices and excess supply,” wrote McCaul. “The shale industry in my home state of Texas and throughout the rest of the US has fought hard to turn America into a leading oil and gas producer and to increase our energy independence. This position and their hard work could be a thing of the past if production is not cut by Saudi-led OPEC and Russia.”
Saudi Arabia has not publicly commented on the Trump administration’s request to curb its oil output, and the Saudi Embassy in Washington did not respond to Al-Monitor’s request for comment

Major oil companies cut spending in 2020 by 20% after falling prices
The world's largest oil and gas companies are slashing spending this year after the collapse in oil prices caused by falling demand due to the Corona virus and a price war between the largest exporters Saudi Arabia and Russia.
The cuts, already announced by five major oil companies, including Saudi Aramco and Royal Dutch Shell, together account for a 20% drop in their initial spending plans.
Norwegian Ecinor said it will cut capital spending by about two billion dollars, while Chevron said it will cut its capital spending this year by four billion dollars.
Other companies, such as US giant Exxon Mobil and Britain's BP, say they will cut capital spending but have not yet released figures.
Brazilian oil company Petrobras said it will cut production in the short term, defer payment of dividends and reduce its investment plan for 2020, among other measures aimed at reducing costs in the face of the Corona virus pandemic.
The debt of Chevron, Total, BP, Exxon Mobil and Royal Dutch Shell combined reached $ 231 billion at the end of 2019, which is just under $ 235 billion recorded in 2016 when oil prices also fell to less than $ 30 a barrel.

Sources: Shell and other oil companies want less Saudi crude in April
Sources in the sector said that several European oil refineries and in the Nordic countries will receive less quantities of crude from Saudi Arabia in April, indicating the scarcity of demand for additional supplies offered by the Kingdom as part of its efforts to boost its market share.
Saudi Arabia, the world's largest oil exporter, plans to boost its exports sharply after the collapse of a three-year agreement between the Organization of Petroleum Exporting Countries (OPEC) and other producers led by Russia to cut supplies earlier in the month.
But with demand collapsing as well due to government restrictions aimed at containing the outbreak of the Corona virus, oil companies are reducing the operating rate of refineries and are not in a rush to take additional Saudi barrels, the sources said.
A trade source, speaking on the condition of anonymity, discussed the matter with oil companies: "There is definitely a reduction in the operating rates of refineries ... so it is difficult to allocate a lot."
And two sources in the sector said that Shell is among the international oil companies that will take less Saudi crude. A source said that
companies are seeking to reduce their shares of Saudi crude by up to 25 percent. Shell declined to comment.

Rocket Attack Targets Baghdad’s Green Zone

Two rockets hit the fortified Green Zone in central Baghdad on Thursday.

The Green Zone in the capital city is home to Iraqi government buildings, parliament, and several foreign embassies.

The two projectiles struck near the Baghdad Operations Command, which coordinates Iraq's police and military forces, the country’s army said in a statement.

The Operations Command building is a few hundred meters far from the US embassy which, according to a security source speaking to AFP, was the original target of the attack.

The rockets were launched from the al-Nahda area of Baghdad, according to the statement.
tweet about it 
The Baghdad Post
 
@BaghdadPostPlus
·
2h
 
#BREAKING | The terrorist group of Jaysh Al-Mahdi launches katyusha missiles against the heavily fortified Green Zone: well-informed source.

 

Vietnamese currency more stable than other regional peers

76987_VND.jpg
The đồng is expected to stabilise around the current level. Photo cafef


HÀ NỘI — Though the unofficial value of the Vietnamese đồng has now fallen about 3 per cent against the US dollar, the rate is still a smaller depreciation than that seen by most of Việt Nam’s regional peers and is expected to stabilise around that level, management fund Vinacapital reported.
The Indonesian rupiah, Thai baht and Malaysian ringgit slid 19, 11 and 9 per cent, respectively. Though the Philippine peso inched down 1 per cent, its relative stability is attributable to the after-effects of a 34 per cent depreciation in the Philippine peso over the five years up to late-2018.
According to Vinacapital analysts, foreign investors aggressively sold Vietnamese stocks last week, prompting concerns among some locals that the State Bank of Việt Nam (SBV) may restrict the flow of US dollars out of the country, which was one of the factors that prompted last week’s đồng depreciation. However, the SBV is not contemplating any restrictions on foreign investors from repatriating dollars, and that the SBV has more than enough reserves to comfortably meet redemption.
“Việt Nam’s US$83 billion of foreign currency reserves are much larger than the country’s cumulative $30 billion of foreign indirect investment (FII) in-flows, and a high proportion of those FII are inflows were into illiquid private equity and/or large strategic stakes in publicly listed companies – both of which cannot be sold quickly. In short, the SBV has more than enough reserves to meet any short-term panic redemptions by foreign investors,” the analysts explained.
It noted that foreign investors sold around $260 million worth of stocks last week, but unlike past global “risk-off” episodes when investors sold Vietnamese stocks but kept the funds in the country such as at the end of 2018, this time some investors are repatriating dollars back to their home countries in response to the current global shortage.
Furthermore, since Việt Nam has not been a major recipient of the “hot money” inflows that destabilised ASEAN tiger economies in the past (for example, the proportion of Vietnamese Government bonds owned by foreign investors is very low, unlike in Indonesia), the SBV is well-positioned to meet any potential short-term panic redemptions by foreign investors.
Vinacapital believed the USD-VNĐ exchange rate should stabilise around the current level as the US Federal Reserve took concrete actions to stop the surge in the USD/DXY index last week while the SBV does not need to impose capital controls and the đồng is supported by high bank deposit interest rates and 33 per cent per GDP of forex reserves.
Việt Nam’s total reserves now reach up to about $83 billion, or four months’ worth of imports, but this figure understates the degree of support that Việt Nam’s FX reserves afford the currency because Việt Nam’s imports and exports are both around 100 per cent of GDP, which depresses the above-mentioned four months’ figure.
“For that reason, we’d like to highlight that Việt Nam’s current 32 per cent per GDP worth of FX reserves has nearly reached the 33 per cent per GDP level of FX reserves that China had accumulated just before the Yuan embarked on a 7-year appreciation that ultimately lifted its value by about 25 per cent,” Vinacapital noted
The country’s trade surplus reached nearly $3 billion as of mid-March, including a surplus of nearly $900 million in the first two weeks of this month, driven by 7 per cent year-on-year export growth.
Besides, Việt Nam’s deposit rates are attractive compared to regional peers and are becoming relatively even more attractive as regional peers’ central banks slash policy interest rates, the analysts said.
CBI, ISX,Dinar Guru:
 
CBI Update:   IT SEEMS the CLOSURES have BEEN Extended WE SHALL SEE
 
Click on the link above for the latest update.

The CBI for rate is.

The currency auction total sales amount $ 0. No Auction today
   
ISX Update:   At my last checking 
Failure to organize trading sessions 17 / 3-2020 / 3/23
it's a  document in Arabic but these are the words
Iraq Stock Exchange Iraq market for ur number: Date: \ ۷/۱۹ / C To the Securities Commission What is the lack of organization of trading sessions 3/17 - 3/23/2020
We give you our best regards.  .  . 
Based on the decisions of the Health Crisis Cell dated 3/15/2020. 
The Board of Governors decided not to organize trading sessions and stop trading activity in securities as of Tuesday 3/17/2020 to enable brokerage firms and investors to complete financial settlements between them and the clearing bank until Monday.  3/23/2020 The trading session after suspension is organized on Tuesday 3/23/2020 according to instructions and rules with appreciation   CURFEW EXTENDED to APRIL 11th
Taha Ahmed Abdel Salam Duran Soran
Shares Traded: N/A
Value Traded: N/A

Dinar Guru Chatter: http://www.dinarguru.com 

3-26-2020   Newshound Guru Jeff    What did I tell you was needed for a rate change?  To shut down the financial markets.  And they did and they're still down...the financial markets within Iraq have now been down for a period of two weeks.  I told you that in my opinion the financial markets would be down down for a period of 4 weeks..

3-26-2020   Newshound Guru Pimpy
   ...people are asking about the rate...to me it just makes sense that they come out with $1.34...I also made an argument why they could start off at the reinstated rate $3.22.  They have nothing right now.  They need more purchasing power so that they can turn around and buy a ton of things.  This is another reason why I think they're going to come out with a managed rate not a free float...I hate to say this but most likely be reinstated at $3.22 rate but not for very long...a rate that high will not allow them to develop economically.  They would not be able to compete on the open trade market with such a high rate.  They'll most likely get back down to around $1.34...but don't be surprised if they don't come out with the $1.34 first.

3-26-2020   Intel Guru Frank26   The CBI has done the impossible...I said we are never going to have an RI until we control Iran.  Sure enough we've got Iran controlled - Security and stability...Number 2:  Stop the dog gone using of the American dollar in your country...the only way is to stop the auctions...here comes the coronavirus...that's a good excuse...Now you have a window so big you can throw the Empire State Building through it.  They're not using the auctions...oil is dropping so low these guys have been pushed at the edge of the diving board...the only option is to jump in the international pool...raise the value...this is exciting.  We got everything we've ever dreamed of... 

3-26-2020   Newshound Guru Adam Montana   ...The IMF has stated that CoronaVirus is impacting the entire world, and Iraq is included... a reasonable reaction to that would be "Oh, great, another reason for Iraq to ask for more handouts!"  Article:  "The World Bank informs Iraq of its unwillingness to discuss any new loan for Baghdad with the status quo"  ...a good article yesterday regarding the World Bank on Iraq...we've been expressing for some time now that it's time to stop enabling Iraq's policy of "pleading poverty". This may be the beginning of the end of that practice - in a good way, for us! They aren't broke, they have the means, and it's time for them to get it together.‼️...

3-26-2020   Newshound/Intel Guru Mnt Goat   Article:  "THREE LARGE SHIITE PARLIAMENTARY BLOCS, GIVE PRIME MINISTER-DESIGNATE ADNAN AL-ZORFI, THE GREEN LIGHT, TO FORM THE NEW IRAQI GOVERNMENT"   I hope Zarfi can quickly form his government and get himself appointed as the permanent prime minister in time for the price of oil to go back up, maybe in a few months. If he can, then we might be in a good place to see the currency reform. I am still hearing that the CBI wants to do this project to delete the zeros and just needs the political obstacle gone and stability to return.

3-26-2020   Newshound Guru Kaperoni   There is no such thing as a different rate inside Iraq vs outside Iraq. ...And a float in which market forces dictates the rate is the only real option... 

3-26-2020  Newshound Guru Jeff  ...the currency auction have still been shut down since 3-17 so nothing has happened since 3-18...the ISX is going to continue to be shut down through the end of the 28th and reopen on the 29th...IMO the ISX will stay shut down and not come back online until Monday April 13th.  [Reference Guru Jeff Post on 3-25-2020]

3-26-2020   Newshound Guru Adam Montana   We've been through a bit of a rollercoaster over the last few weeks and months, between the Kung Flu and the (old/new/quit/appointed/current) Iraqi Prime Minister (currently Adnan al-Zurufi), but we aren't forgetting about one of the biggest reasons for the recent Iraqi shake-up: Iran. A giant positive to reflect on right now is the lack of Iran in the news.  One of the most recent items of note regarding Iran was their last ditch effort to hold on to power... and as I suspected, it seems to be falling flat. Keep your eyes on the prize, my friends... keep your eyes on the prize. Sometimes the most important news is what is NOT being talked about. This is a good thing. Also a good thing, and something that is not written yet, is the part on the wikipedia page about the upcoming rate change and Zurufi's role in the implementation.

3-26-2020   Newshound Guru Pimpy  ...the PM just got the green light to establish his cabinet.  And that came from the big block - the pro Iranian people...  

Catnip's Corner:

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

The designated Prime Minister, Mr. Adnan Al-Zorfi, receives the Jordanian Ambassador to Baghdad 

The Prime Minister-designate Mr. Adnan Al-Zorfi received at his office in the capital Baghdad on Thursday afternoon, the Ambassador of the Hashemite Kingdom of Jordan, Montaser Al-Zoubi. The economic caused by this collapse.

For his part, Al-Zoubi presented the Kingdom's internal situation and the measures taken to confront the Corona virus, stressing the depth of relations between Baghdad and Amman, expressing his hope to deepen and develop it and resolve the formation of the next government during the constitutional period to serve the interests of Iraq and its people.

Media office of the Prime Minister
26-March-2020

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

The Cabinet examines developments in the health, economic, and service conditions and efforts to tackle the Corona virus 

The Council of Ministers held its regular session, today, Thursday, 26 March 2020, headed by the Deputy Prime Minister and Minister of Oil Mr. Thamer Al-Ghadban. The Council held a review of the health, economic, financial and service conditions in the country in light of the procedures to confront the Corona pandemic, curfews, alleviate burdens on the general public, and preparations for the stage Coming.

The Council of Ministers listened to a detailed explanation provided by the Minister of Health and Environment Dr. Jaafar Sadiq Allawi, the technical representative and the Director General of the Ministry of Public Health in the ministry on the developments of efforts to prevent the spread of the epidemic and the preparations taking place throughout Iraq.

The Council of Ministers discussed the necessary procedures related to providing services and strategic storage of foodstuffs and ensuring the facilitation of marketing agricultural products between governorates and related services, as well as examining the requests of Iraqis residing abroad to return to the country, where the ministers presented their observations and proposals.

The Cabinet evaluated the implementation of the curfew, the extent of its commitment to it, cooperation between health and security agencies, the importance of intensifying preventive campaigns, awareness-raising efforts, and health advice.

The Cabinet renewed the call for all citizens to adhere to the prohibition of roaming and health guidelines and avoid any gathering and mixing in order to ensure their safety, and that the Council reassures citizens to the procedures for achieving food security and providing the needs of citizens and the necessary services, expressing his appreciation for the efforts made by the crisis cell and health teams across the country, praising In a spirit of solidarity, volunteer campaigns and community support, and for the efforts of the security forces in all their formations.

The Cabinet issued a number of decisions, including the following:

- Extending the curfew until the date of 11-4-2020 in all regions of Iraq and with the same current exceptions, and the Prime Minister is empowered to grant the necessary additional exceptions.


- The ministries and entities not associated with the Ministry and all governorates use their efforts and resources to support the Diwaniya Commission 55 of 2020 and the Ministry of Health in the governorates with their needs of funds, equipment, vehicles and other things through donation or secondment or other, to help them in combating the spread and contain of Corona virus, and the Committee and the Ministry of Health have authority Receipt of donations and in-kind donations from donors from outside Iraq.


- The Minister of Health is authorized to approve the continuation of the work of a number of health and medical professionals, not exceeding 10, after referring them to retirement and their disintegration as a contract with the same amounts they are currently receiving from salaries and allocations until the end of the Corona virus crisis.

The Ministry of Foreign Affairs shall provide the necessary housing for workers in embassies and missions abroad who have reached the legal age for referral to retirement or have completed the period of postponing the disengagement until the border crossings are opened.

Media office of the Prime Minister
26-March-2020

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

Iraq’s Council of Ministers decides to extend the curfew in Iraq until 11 April 2020 as part of the national effort to contain the spread of #Covid19 and protect public health.

Cabinet discusses measures to contain Covid-19, agrees to extend curfew

 26 Mar 2020 - 4:30 pm
he Cabinet held its regular weekly meeting in Baghdad on Thursday under the chairmanship of Deputy Prime Minister and Minister of Oil, Thamir Ghadhban.
The Cabinet reviewed the impact of restrictions to contain Covid-19, including curfews, on the health, financial and service sectors, and discussed measures to lessen the burden on Iraqis.
The Cabinet received briefings from the Minister of Health, Dr. Jaafar Allawi and senior officials on current measures to contain the spread of the epidemic in Iraq.
The Cabinet urged all citizens to abide by curfew regulations and follow the advice of health professionals, including practicing social distancing and avoiding gathering for their own safety and that of all Iraqis.
The Cabinet discussed measures to ensure food security, continuation of essential services, transport of agricultural produce between provinces and requests from a number of Iraqi citizens abroad who wish to return home but are unable to do so because of current restrictions on air travel in several countries.
The Cabinet thanked the Crisis Cell for its role in mobilising national efforts to contain Covid-19, and expressed its gratitude to Iraqi health teams, security forces, volunteers and community leaders for their hard work and dedication at this difficult time.
The Cabinet decided to:
  • Extend the curfew to 11 April 2020 in all regions of Iraq, and for current exemptions to be maintained
  • Direct all ministries, public bodies and local authorities to use their financial and other resources such as vehicles and equipment to support the Crisis Cell and the Ministry of Health
  • Authorise the Minister of Health to allow some health professionals who have reached retirement age to continue in their posts for the duration of the crisis.
*************
ARTICLE 3

Al-Zorfi: We will adopt an external policy based on the principle of (Iraq First)

3/26/2020 13:28 
[Baghdad-where]

The Prime Minister-designate, Adnan Al-Zorfi, said today, Thursday, that the top Iraqi interests are the compass that determines the direction of our foreign policy.

Al-Zrafi stated in a tweet on his Twitter account: "We will adopt an external policy based on the principle of (Iraq first) and stay away from regional and international conflicts that make Iraq an arena for settling accounts and that the highest Iraqi interests are the compass that determines the direction of those policies."

Adding: "And seeking to open to all neighboring countries, the region and the general international community without prejudice to the conditions and requirements for the preservation of" the independence and sovereignty of Iraq.
*************
ARTICLE 4

Al-Maliki: We cannot support any candidate who does not come through the majority in the largest component

3/26/2020 20:29 
Baghdad

The head of the State of Law coalition Nuri al-Maliki, in a tweet, this Thursday evening, indicated his lack of support for any candidate that does not come through the majority in the largest component in addition to obtaining the approval of the National Space Blocs,

As he stated in his tweet: "There is no doubt that our steadfast stance is that we support the majority candidate in the largest component, which must obtain the approval of the National Space Blocs."

"We cannot support any candidate who misses one of these two dimensions because we fear the consequences of the intersections and their impact on the besieged political process with more than one challenge," he added.

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

Security forces kill terrorists and find a number of explosive devices in Samarra

3/26/2020 18:38 
{Baghdad _ Where} The Operations Command of Samarra announced, today, Thursday, that a number of packages have been found within the sector of responsibility.
The leadership said in a statement today, "The Fourth Division engineering battalion was a federal police, and during a duty on West Samarra Island, it was able to find (2) a funnel package and (10) homemade packages consisting of (10) liters and (2) An anti-armored explosive device was dismantled and destroyed under control. "

She added: "On the island of Machisheva, the force was able to find (12) explosive devices, which were used by ISIS, to have been removed and destroyed under control."

And based on accurate information received and through the joint coordination between the Intelligence and Command Security division, the Commando Brigade, the Ishaqiyya Police Division, and the Fifth Emergency Regiment, Salah al-Din reported that there were terrorists in the Ishaqi area, they were engaged and killed (2) of them, while an ammunition was found. From the ISIS terrorist remnants within the responsibility of the brigade of 17 federal police brigades, containing (23) repressive devices, (25) containers in the form of a galvan capacity (20) liters, blasting rulers number (33) ruler, detonating detonator number (36) detonator, "shown That "the mentioned materials have been destroyed."

*************

Thursday, March 26, 2020

WOTS THURS MAR 26 2020

WOTS THURS MAR 26 2020

The Markets:


Asian markets  closed down  
NIK  down 4.51%      HSI  down .74%  SHANG  .60%

all our futures are red  at 4:45 am
DOW   futures in red .98%  at 20814  SNP  red 1.39%  NDX red .90%

uk currently trading in red about 2% plus or minus
Precious Metals:

oil is about 27 per Bloomberg

4:45 am Cali time
Gold   green at 1619  Silver red at 14.73   Copper red at 218  Platinum  red at  725


Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1188.0000  1194.0000 1194.8000 1194.2000 1194.8000  3.4000 07:57
 USD/VND  23310.9600  24042.1900 23650.4500 23486.2200 23486.2200  145.5900 07:12
 USD/CNY  7.0721  7.0741 7.1197 7.0721 7.1132  -0.0410 08:26
 USD/KWD  0.3147  0.3152 0.3149 0.3149 0.3149  -0.0002 07:57
 GBP/USD  1.2009  1.2010 1.2029 1.1774 1.1878  0.0131 08:28
 USD/IRR  0.0000  0.0000 42097.5000 42097.5000 42097.5000  97.5000 00:00
 USD/IDR  16092.0000  16127.0000 16451.0000 16060.0000 16062.0000  29.0000 08:28
Things in the News:
Distressed Debt Balloons to Almost $1 Trillion, Nears 2008 Peak...
Governors Say Massive Federal Bailout Falls Short...
Economies Already Look Totally Different From Pre-Virus Age...

Why Did Hundreds Of CEOs Resign Just Before World Started Going Crazy?

Iraqi Articles:

Al-Zrafi on Foreign Policy: We will adopt the Iraq principle first

 Prime Minister-designate, Adnan Al-Zarfi, revealed, on Thursday, the features of his foreign policy in the event of passing his cabinet in the House of Representatives.
"We will adopt an external policy based on the principle of (Iraq first) and stay away from regional and international conflicts that make Iraq an arena for settling accounts, and the highest Iraqi interests are the compass that determines the direction of that policy," Al-Zrafi said in a Twitter post seen by Mawazine News.
He added, "We seek to open up to all the neighboring countries, the region, and the general international community, without prejudice to the terms and requirements of preserving the independence and sovereignty of Iraq."

The Council of Ministers decides to extend the curfew until April 11

The Council of Ministers decided, on Thursday, to extend the curfew until April 11.
"The Cabinet decided to extend the curfew until the date 11-4-2020," the media office of the Prime Minister said, in a statement received by Mawazine News.
This comes to reduce the outbreak of the Corona epidemic in Iraq, and the ban was scheduled to end next Saturday. 

Parliamentary Finance: Payroll Insurance Will Be Made Through Funds Circulation And The Central Reserve

The Parliamentary Finance Committee revealed today, Thursday, the sources of insurance for the salaries of employees and retirees.
Member of the Committee, Deputy Ahmed Al-Saffar said in a statement that Al-Ahd News followed, “The salaries of employees and retirees are secured for this year because of the funds recycled from times that witnessed an increase in oil prices and also the presence of reserves in the central bank, in addition to a surplus of ministries that did not exhaust their budgets Pointing out that "the allocations will also be used to tackle the Corona crisis during the next two weeks, based on the intensification of efforts and funds."
Al-Saffar added that "the central bank must take care of the poor who are not working now due to the curfew and must find a quick solution and financial support for them, because there are businesses that depend on daily wages."

Rafidain Bank: Our branches are open to pay the salaries of state employees

The Rafidain Bank confirmed that its branches in Baghdad and the provinces are open to receive and pay the salaries of employees of state departments through electronic payment tools.
The media office of the bank said in a statement that the salaries of many of the endemic state departments have been raised with the bank during the past two days and for mastercard card holders.
Noting that the bank continues to provide its branches with the necessary funds to accomplish the process of disbursing salaries and distributing them to employees easily and without any obstacles

Al-Zorfi: I seek balanced relations for Iraq with countries in the region and the world 
On Wednesday, the designated Iraqi Prime Minister, Adnan Al-Zarfi, continued his consultations with the political blocs and forces to form the new government, stressing that he looked forward to building balanced relations with all countries of the region, as well as with regional and international powers, while the "victory" coalition led by the former prime minister Haider al-Abadi, that Al-Zarfi could form his government soon, at a time when the Al-Fateh bloc led by Hadi al-Amiri confirmed its position by rejecting the mechanism through which Al-Zarfi was assigned, and advised him again, to reject the assignment.
Al-Zorfi said, “What concerns me primarily is building balanced relations with all countries of the region, whether they are Arab, as the surrounding of Iraq is Arab, so there is an Islamic environment for Iraq, and in addition to that I will strive to establish balanced international relations with regional and international powers, on The base of common interests, with priority for our national interests. ” He added that he «began his consultations to form a government whose mission will be for only one year, during which preparations are made for early elections».
On the other hand, the head of the "Al-Fath" bloc, Muhammad al-Ghabban, affirmed that "his bloc's position is consistent with the rejection of the mechanism mandated by al-Zarfi, which consisted in overcoming President Barham Salih for the constitution, and the prevailing political norms since 2003." He added, "We recommend Al-Zrafi to apologize for the assignment, so that he does not cause the loss of the majority's right."
However, the deputy from the "Victory" coalition, Falah Al-Khafaji, revealed "the presence of positive dialogues with the opposing blocs", suggesting that "the dialogues with these blocs will lead to positive results", stressing that "the formation of the government will be soon."
On the other hand, the Parliamentary Parliament member of the Kurdistan Future Bloc, Sarkot Shams al-Din, revealed that “the Kurdish group made up of representatives of all the Kurdish parties, with the exception of the two Democratic Parties and the National Union, continues its dialogues with the Prime Minister-designate, and discussions focused on adherence to the provisions of the constitution, including Article 140, commitment to the financial entitlements of the citizens of the region, and looking at them as Iraqis away from political and oil conflicts, ”stating that“ the Kurdish and Democratic parties and the National Union are conducting private discussions with Al-Zarfi, and may be focused on obtaining gains in the government H".
For his part, a member of the Kurdistan Democratic Party, Imad Bajlan, said, “The Kurdish forces have no conditions for any candidate, but we have clear constitutional rights, known according to the constitution, the privacy of the region as a constitutional entity, and whoever pledges to protect those rights and privacy, we will be interacting with it positive".

3 rockets landed in the Green Zone  
A security source said, at dawn today, Thursday, that a number of rockets had landed in the Green Zone, in central Baghdad.
The source said, "3 rockets landed inside the Green Zone, without any damage."
The sirens sounded inside the American embassy, after hearing loud explosions, inside the Green Zone.
CBI, ISX,Dinar Guru:
 
CBI Update:   IT SEEMS the CLOSURES have BEEN Extended WE SHALL SEE
 
Click on the link above for the latest update.

The CBI for rate is.

The currency auction total sales amount $ 0. No Auction today
   
ISX Update:   At my last checking 
Failure to organize trading sessions 17 / 3-2020 / 3/23
it's a  document in Arabic but these are the words
Iraq Stock Exchange Iraq market for ur number: Date: \ ۷/۱۹ / C To the Securities Commission What is the lack of organization of trading sessions 3/17 - 3/23/2020
We give you our best regards.  .  . 
Based on the decisions of the Health Crisis Cell dated 3/15/2020. 
The Board of Governors decided not to organize trading sessions and stop trading activity in securities as of Tuesday 3/17/2020 to enable brokerage firms and investors to complete financial settlements between them and the clearing bank until Monday.  3/23/2020 The trading session after suspension is organized on Tuesday 3/23/2020 according to instructions and rules with appreciation   CURFEW EXTENDED to APRIL 11th
Taha Ahmed Abdel Salam Duran Soran
Shares Traded: N/A
Value Traded: N/A

Dinar Guru Chatter: http://www.dinarguru.com 

3-26-2020   Newshound Guru Adam Montana   We've been through a bit of a rollercoaster over the last few weeks and months, between the Kung Flu and the (old/new/quit/appointed/current) Iraqi Prime Minister (currently Adnan al-Zurufi), but we aren't forgetting about one of the biggest reasons for the recent Iraqi shake-up: Iran. A giant positive to reflect on right now is the lack of Iran in the news.  One of the most recent items of note regarding Iran was their last ditch effort to hold on to power... and as I suspected, it seems to be falling flat. Keep your eyes on the prize, my friends... keep your eyes on the prize. Sometimes the most important news is what is NOT being talked about. This is a good thing. Also a good thing, and something that is not written yet, is the part on the wikipedia page about the upcoming rate change and Zurufi's role in the implementation.

3-26-2020   Newshound Guru Pimpy
  ...the PM just got the green light to establish his cabinet.  And that came from the big block - the pro Iranian people...
3-25-2020   Intel Guru Bruce   [via WiserNow]   ...First of all we got to talk about what’s going on with the congress – we know we have a bill that should have been passed today... and yes yes it does have something to do with our start...President Trump...wants this done and you guys know this will go during this COVID-19 situation...we are looking very good based on the information... I’m thinking we’ve got a possibility of getting notified in the afternoon but more than likely situation for Thursday – that is the latest update I have received...

3-25-2020   Newshound Guru Breitling
   ...we're looking for a long term trend and here we are.  I told you guys it was going to be $26 per barrel.  It's going to get there and it's going to be there a while.  That's going to put pressure on Iraq to add value to their currency...

3-25-2020   Newshound Guru Jeff  ...the whole rate change itself is about a 4-week process...the reason why we saw the country of Iraq shut down their financial markets is because they did start the rate change process that week.  Again it's a process.  It's not just an overnight flip of a switch.  They actually started the rate change last week - which is roughly week 1...we're now in week 2 so we have about two more weeks.  That would take us to a possible rate change period of somewhere around the weekend of April 12th which is Easter Sunday...

3-25-2020   Newshound Guru Pimpy  ...I believe everything is ready to happen.  They're just gonna come out and announce whatever rate change it is.  They're just gonna announce it.  It's gonna happen instantly.  Now that doesn't mean they won't have what's called a manage rate or "dirty float" and that is they're gonna manage it because if it's too much of a shock to the economy...

3-25-2020   Newshound Guru Breitling   Question:   "Is there any indication of how much Iraqi dinar the US government owns?  Can you comment on the viability of the revaluation of the dinar to fund the stimulus package...?"    The United States doesn't need money from anybody.  Trump is trying to lower the value of the dollar so we can compete correctly How do you do that?  You have to inject money into the economy...we don't need Iraq's money.  The government doesn't.  I do.  I'm speculating.  But it doesn't work that way.  You're putting heavy dinar goggles on.  Our country is going to function whether Iraq exists or not...it's a good question but we don't need them for a stimulus package...

3-25-2020   Intel Guru MarkZ   I definitely believe we are watching it [RV] roll out right now… [Okie was looking to land his plane today….]    I wish I was as confident as he is and hope its true.

3-25-2020   Intel Guru Frank26 
  ...a currency swap was actually recently done with the Central Bank of Iraq and banks of the United States of America and other banks all around the world.  This process is long.  They've been working on it for a long time.  Over a year.  I thought they'd be ready this past January.  No, they failed again and maybe it was because of the political B.S. of Iran.  But we got that taken care of - stability and security.  And we stopped the auctions and using the American dollar.  The CBI and US banks made swaps.  Around the middle part of December last year...this scenario is pressure because it's leading the IQD to the point of  raising the value of the currency.  It's the only solution for both the CBI and the GOI to pay their bills and build Iraq...They're running out of American dollars...oil is not selling at a very good price right now putting pressure on the CBI and the GOI to raise the value...it's all pointing in one direction...

3-25-2020   Newshound/Intel Guru Mnt Goat   Article:  "THE IRAQI PRESIDENT TRANSMITS THREE AMERICAN DEMANDS TO ADNAN AL-ZARFI"   Quote:  "...the American demands are summarized in three axes:  First: Reducing the role of the popular crowd (Iranian backed) and keeping it away from influencing the Iraqi political decision.  Second: to keep the Iranian influence from penetrating into the political and economic life of Iraq through frank and direct negotiations with Iran about that.  Third: Opening up to the Arab and regional ocean countries away from Iranian dictates. So we are seeing the effort on the part of the US to get Iran out of Iraq and out of Iraqi politics. We all should know by now this is the impeding element in any progress towards currency reform.

Catnip's Corner:

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

The designated Prime Minister, Mr. Adnan Al-Zarfi, meets the ambassadors of the permanent members of the United Nations Security Council 

The Prime Minister-designate, Mr. Adnan Al-Zorfi, met today, Wednesday, in his headquarters in the capital, Baghdad, ambassadors of the permanent members of the UN Security Council, Russia, China, France, the United States of America and Britain.

The meeting dealt with a series of crises facing Iraq and the countries of the region and the world against the background of health risks due to the spread of the Corona epidemic, and the economic because of the collapse of oil prices in the global market, and the future of international relations due to the serious repercussions of these two challenges. In addition to studying the political situation in Iraq and its consequences in light of the delay in forming the government.

Al-Zorfi presented to the five ambassadors his vision regarding the formation of a national government that represents all the colors of the Iraqi spectrum, characterized by efficiency and ability to face internal and external crises with responsibility, stressing the need to respond to the demands of demonstrators and sit-in protesters in the cities of central and southern Iraq, and to conduct early free and fair elections in cooperation with the United Nations that includes representative representation Fair and transparent to all components without exclusion or marginalization, eliminating armed manifestations and restricting weapons to the state’s hands in a manner that preserves its prestige and preserves the sovereignty of Iraq, the reconstruction of destroyed areas and the return of the displaced and displaced, as well as its endeavor to strengthen relations of Arab Lead the neighboring countries, the region, and the world, calling on the governments of friendly countries to support and support the next government in dealing with the existing crises and resolving the outstanding issues.

For their part, the ambassadors expressed their understanding of what is going on in the Iraqi arena and the readiness of their governments to support Iraq in facing the current challenges and achieving societal peace in order to conduct early free and fair elections.

Media office of the Prime Minister
25-March-2020

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

The designated Prime Minister, Mr. Adnan Al-Zorfi, meets the Minister of Health 

The Prime Minister-designate, Mr. Adnan Al-Zorfi, reviewed the measures taken by the government crisis cell to confront the Corona epidemic.

During his meeting with the Minister of Health and Environment Dr. Jaafar Allawi today, Wednesday, Al-Zrafi discussed ways to surround the Corona virus crisis and the mechanisms used to prevent the increase in cases of spreading, praising the efforts made by members of the cell and health institutions, and the citizens' understanding of the necessities calling for the imposition of curfews and their commitment and the supporters wills and instructions Crisis Cell.

For his part, the Minister of Health reviewed the plans and programs of the Ministry aimed at reducing the repercussions of the new epidemic, pointing out the importance of solidarity for all and concerted efforts in this circumstance, stressing the need of the health institution for all types of support and support to fully carry out its duty.

Media office of the Prime Minister
25-March-2020

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ARTICLE 2 (from Government of Iraq twitter account)

Covid-19: A molecular testing laboratory opens in Baghdad

 25 Mar 2020 - 5:37 pm

Iraq’s Minister of Health Dr. Jaafar Allawi today inaugurated at Baghdad’s Medical City a new molecular biological laboratory for testing for the coronavirus disease (COVID-19) in suspected cases.

Iraqi health officials say that the laboratory will contribute significantly to increasing Iraq’s diagnostic capabilities for COVID-19 which is a critical  factor in tracking the virus and to suppressing its transmission.

The laboratory is equipped with the latest testing technologies which were delivered to Iraq by the Government of the People’s Republic of China under the framework of cooperation agreements between the two countries.

The Ambassador of the People’s Republic of China to Iraq,  Mr. Zhang Tao took part in the inauguration ceremony.
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ARTICLE 3

Al-Zrafi presents his vision for the next stage in his meeting today with a number of ambassadors

3/25/2020 18:12
Baghdad

The Prime Minister-designate Adnan Al-Zorfi met today, Wednesday, in his headquarters in the capital, Baghdad, ambassadors of the permanent members of the United Nations Security Council, Russia, China, France, the United States of America and Britain.

The meeting dealt with a series of crises facing Iraq and the countries of the region and the world against the background of health risks due to the spread of the Corona epidemic, and the economic because of the collapse of oil prices in the global market, and the future of international relations due to the serious repercussions of these two challenges. In addition to studying the political situation in Iraq and its consequences in light of the delay in forming the government.


Where Al-Zarfi presented the five ambassadors his vision regarding the formation of a national government that represents all colors of the Iraqi spectrum, characterized by efficiency and ability to face internal and external crises with responsibility. Stressing the necessity to respond to the demands of demonstrators and sit-ins in the cities of central and southern Iraq, and to hold early free and fair elections in cooperation with the United Nations, which included a fair and transparent representation of all components without exclusion or marginalization. Eliminating armed manifestations and restricting weapons to the state’s hands in a manner that preserves its prestige and safeguards the sovereignty of Iraq. And the reconstruction of the devastated areas and the return of the displaced and the displaced, as well as its endeavor to strengthen Iraq’s relations with neighboring countries, the region and the world. He called on the governments of friendly countries to support and support the next government in dealing with the existing crises and resolving the outstanding issues.


For their part, the ambassadors expressed their understanding of what is going on in the Iraqi arena and the readiness of their governments to support Iraq in facing the current challenges and achieving societal peace in order to conduct early free and fair elections.

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ARTICLE 4

Al-Fateh bloc: Our position is consistent with the refusal to assign Al-Zarfi to the Prime Minister

3/25/2020 17:27 
Baghdad

The Al-Fateh parliamentary bloc indicated the stability of its position by rejecting the mechanism through which Prime Minister Adnan Al-Zarfi was tasked with forming the government.

The head of the bloc, Muhammad al-Ghabban, said: "The position of the al-Fateh bloc is consistent with the rejection of the mechanism mandated by al-Zarfi to bypass the President of the Republic, the constitution and the political norms prevailing since 2003."

He added: "We recommend Al-Zarfi to apologize for the assignment, so that it does not cause him to lose the right of the majority."

On the 3/17/2020, President of the Republic, Barham Salih, commissioned Adnan Al-Zarfi to head the Council of Ministers and form a new government for the next period.

Both the Al-Fateh Alliance, the State of Law Coalition, the National Contract Bloc, and the National Approach Bloc rejected Zerafi's assignment, and considered that by doing so he had crossed all constitutional contexts and political norms.
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ARTICLE 5

The shares of a company jump by 557% after an error committed by the investors

3/25/2020 16:00 
[Follow-up]

Investors again mistook the names of two companies and mistakenly invested their money in a Chinese company, which pushed the company's share price up quite high.

Talking about the companies Zoom Technologies and Zion Video, the first is a company specialized in the communications equipment industry, while the latter is a company based in Los Angeles and active in the field of telecommunications, where it is possible through its platform to hold meetings and conferences via video [TV bridge], in addition to providing Remote lessons.

In light of the spread of the Corona virus and the imposition of restrictions and isolation procedures, the demand for Zoom Video service increased, increasing the appetite of investors to invest their money in it.

As investors applauded, Zoom Video’s share price rose two days ago, and the company’s share rose nearly 20% to $ 157 a share.

In conjunction with this, investors mistakenly bought shares of Zoom Technologies, thinking that it is the company that provides telecommunications services, so that the shares of this Chinese company increased from 2 to 20 March by 557%.

However, the shares of the Chinese company fell yesterday by about 19% as investors realize that they have made a mistake.
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