DELTA » August 24th, 2015, 3:09 pm URGENT FROM IRAQIA TV:
Abadi instructed to take immediate action to stimulate the private sector and reduce unemployment
lexi : Delta, don't they need a new rate(purchasing power) to stimulate the private sector? Or does he mean something other than that? Thanks
Winlady: WOW, DELTA!! : This sounds like the "really big news" we are hoping for!!Hope "immediate" means just that!!
DELTA: WHEN ABADI SAYS IMMEDIATE THEN IT WILL BE!!!!
Alan: Hi Delta, Could you share who's instructing Abadi? Would that be the CBI? Thanks,
DELTA: CRISIS CELL INCLUDING CBI GOV
Aggiedad77: Hi Delta Guess this must mean kick into high gear the 5 trillion dinars to the banks for small and medium business enterprise loans or do you think he will be working in a different direction.
Alan: Yep and how do you reduce unemployment, by creating jobs.
How do you create jobs? You start businesses. How do you start a business? You take out a loan from banks. How do their banks get the Money? From the CBI.... who's in charge of the CBI? Shabibi.
So in essence Shabibi is telling Abadi. Could be off base but just my thoughts.
Frank26: ........ C U on CC DELTA ...... BRAVO TO YOUR TEAM.
Billuke: » August 24th, 2015, 3:34 pm
Abadi instructs the revitalization of the private sector and reduce unemployment
Monday 24-08-2015 | 6:16:05
Twilight News / ordered Prime Minister Haider al-Abadi, Monday, to take immediate action to stimulate the private sector and reduce unemployment in the country.
Ebadi said Office in a statement that "the crisis cell held its sixth meeting under the chairmanship of Prime Minister Haider al-Abadi," noting that "al-Abadi said in the beginning of the meeting on the need to pursue the economic and financial situation and the development of policies to respond to these conditions with the decline in oil prices."
He added that "the cell heard a presentation for the development of oil production and the potential for improvement with emphasis on the fulfillment of mutual obligations with international oil companies and to secure better working conditions for them."
It recognized the crisis cell "lending program which is funded by the Iraqi Central Bank in the amount of five trillion dinars distributed evenly on industry, agriculture and housing sectors to be seen in that light of the success rates in the sectors mentioned in the investment of the amounts allocated to them."
The Prime Minister instructed to "direct immediately necessary so as to provide real opportunities to activate and reduce the unemployment rate of the private sector actions."
Backdoc: » August 24th, 2015, 2:52 pm THE REPRICING HAS NOW BEGUN! DOC
Walkongstick: Here’s what it takes to trigger stock-market circuit breakers
Published: Aug 24, 2015 10:54 a.m. ET
S&P 500 would need to fall 7% to trigger initial halt
By WILLIAM WATTS: DEPUTY MARKETS EDITOR
Stocks plunged at the opening bell, taking the Dow Jones Industrial Average down by more than 1,000 points for a few jaw-dropping moments Monday morning.
But the drop across markets wasn’t enough to trigger so-called circuit breakers, which are designed with the intent to help stem a panic in the event of a sharp market decline. Stocks are still down sharply, but have bounced off early session lows.
The session is far from over, however, so here’s what it would take to trigger market-wide trading halts.
S&P 500 is the benchmark
Circuit breakers were first introduced after the 1987 stock-market crash. They’ve been modified a few times since then. While early circuit-breakers used the Dow DJIA, -1.45% as a benchmark, it is now the S&P 500 SPX, -1.50% that determines whether trading will stop.
If the S&P 500 falls 7% from the previous session’s close before 3:25 p.m. Eastern, all stock-market trading halts for 15 minutes.
The S&P 500 set a session low of 1,866.86 earlier Monday, for a 5.3% drop. It would have to fall to 1,832.92 to trigger a so-called Level 1 trading halt.
After stocks reopen, it would then take a 13% decline by the S&P 500 before 3:25 p.m. to trigger a second trading halt, which would also last 15 minutes. For Monday’s session, that would mean a decline to 1,714.67.
After a second trading halt, it would take a decline of 20% to trigger a so-called Level 3 circuit breaker. That would take an S&P 500 drop to 1,576.71 on Monday. Once a 20% drop occurs, that’s all she wrote. Trading is halted for the remainder of the day.
Also note that after 3:25 p.m., stocks only stop trading in the event of a 20% drop.