Millionday News 5/26/14 Part 1
Welcome To Monday Night News With Millionday!
[millionday] here goes our news -- al-Hashemi said the expert, a specialist in the affairs of recording companies just Fattal said the opening of offices for foreign companies in Iraq comes to study the conditions of the local market and discuss opportunities and areas for investment in various economic sectors. added Fattal told (morning):
Despite the circumstances of the country, the major international companies have opened some offices in the southern provinces, where some kind of security and stability in preparation for their entry into the investment projects after the direct implementation of contracts with different agencies and government departments makings thus to open branches in Iraq.
During the last month the opening of 31 representative offices of companies and 8 foreign branches in Iraq confirms the growing desire to strongly enter the Iraqi market as a promising market for investments in all economic fields.
[millionday] wonderful!! more progress as we see and the opening of both interntional business and banking -- love it - market expansion is what we like and need brb with more
[millionday] here is more on the opening of the market in mid june
[millionday] Farah pumice yielded the first conference of the Iraqi market for securities held mid-month, agreements to open up to the Arab markets for the purpose of creating investment opportunities and attract investors to Iraq.
should be noted that many of the officials and specialists, economists and owners of companies traded in the market may have participated in this conference and from different sectors such as industry,
tourism and banks, including the economic expert on behalf of Jamil Antoine, who described the (conference) initiative good by the Iraqi market for securities of openness on the global and regional markets.
[millionday] note -- as we know the first conference was in the middle of the month last -- we saw multiple reports on it and great happiness as well -- smile
[millionday] said Antoine told the "morning": that "the market has adopted a regulatory process logistics cooperation with a group of Economics and Business Lebanese, has attracted a lot of investors, especially the Arabs, as well as the active presence of investors of Iraqi expatriates abroad. "
confirmed positive response from investors on the basis of inviting them to invest in the Iraqi market because of its features and benefits of a rewarding and reasonable prices of shares traded, in addition to create investment portfolios.
[millionday] note -- the isx has not failed in adopting multiple investors in many countries but as we know by the market arab and lebanese goes without saying with the multiple businesses etc
millionday] According to the expert, the conference included six sessions punctuated papers and research mission and explained the reality of the market and its leadership, and the gravity of the action in the market and accuracy of transactions and speed of completion of transactions,
making it the level of regional markets, notably the "prospects for the Iraqi economy under the title of development policies and growth indicators," presented by Dr Mehdi al-Hafez, as well as research and working papers on the status of banks in Iraq.
also addressed the arguments of Iraqi investors expatriates, the obstacles facing investment and they come to invest in the country, including red tape and obstacles and bureaucracy, as well as the performance of the banking system is not at the required level in the conversion and transfer of funds
[millionday] note -- there has been much training that has been completed by nasdaq and so much of the regional requirements had to be taught for global markets=---- the paperwork to get in to the market was a bear at one time and of course we remember the red tape -- they have worked on changing this obstacle so training has also been done
[millionday] , in a manner consistent with ambitions. has hinted that the omission of Congress to invest in facilities and take advantage of the Investment Law No. 13 of 2006, especially Article 33, which gives the investor in existing projects, whether in the sectors of public, private or mixed right to enjoy the privileges provided by law for the investor to invest new,
as well as non- launch studies and research in the field of agricultural facilities, industrial and tourism and the advantages of the ownership of the investment in the Iraqi market for securities that are more than the ownership of the markets in neighboring countries.
[millionday] so as we see they are trying to make it as simple as possible so this is a great thing for investors for any of you out there that do invest -- you know it can be very hard to make through the paperwork -- smile
tank] Person mentioned above that the banking was not up to the required level
[millionday] where ? i missed it -- in this report?
[jtank] according to expert--end of para
[millionday] banking system is not at the required level in the conversion and transfer of funds
[millionday] the required level and the conversion is not to the level it needs to be and the lack of custodian services entirely is part of that -- they dont have a reality rate applied and with what we have been told -- that will resolve a lot in the very near future
[millionday] here we go
[jtank] wont the international banks be at speed
[millionday] they will be when the market is implemented as they have announced
[millionday] meaning the iraqi banks and merging
[jtank] rt on
[millionday] yes the international banks will be at speed the custodial banks are jp morgan and citigroup and a couple more as far as most knows
[millionday] Al-Sabah issued the securities trading indicators for the last week included the rates of change in the reality of trading of shares of joint stock companies.
said the head of the d. Abdul Razzaq al-Saadi said in an interview for the "morning": that the bulletin included a reference to the corporate winners and losers and the companies most active by value traded, as well as trading foreign.
millionday] Explained that the company Sadeer hotel was at the forefront of gainers, followed by Industries modern paint, came the field of loss-making companies the marks issued company desert of public transport first place followed by the company secretary Insurance, either companies most active
I proceeded Company Bank of Baghdad and then company Gulf Commercial Bank and Bank of the North in third place, also included a newsletter indicators Trading foreign. mentions that the Commission issue this newsletter a week dealing with the reality Trading with the aim of the statement of changes that occur weekly on the reality of trading.
[jtank] reality of trading--
[millionday] so they have published a trading newsletter as well that will go to all investors -- that is more than interesting -- maybe it will be released in english too
[millionday] so much typing to translate smile brb with more
millionday] Shaikhani the spokesman of the Ministry of Finance and the Kurdistan Regional Government "that the fiscal revenue from the sale of the region's oil to world markets will return to the treasury and financial Kurdistan will be used to pay the salaries of government employees."
He Dler Tariq, spokesman for the ministry said in a statement the "morning": that the ministry was able to measure the necessary funds to pay overdue salaries for the month of April last, and that the Ministries of Interior and Peshmerga stages will be another two ministries Taatsalman salaries of their staff today
millionday] note -- that is bold if i do say so myself -- there is more than one way to skin a cat as they say
millionday] "Tuesday" and will be paid salary arrears for the rest of the institutions and government departments that have not yet received their payrolls for the month of April.
"He Tareq to" the proceeds from the export of oil to the Turkish port of Ceyhan will return to the Treasury and the Ministry of Finance Government of the Territory and by we will manage employees' salaries stages the next,
as well as provide liquidity for the rest of the obligations of the government and the private predecessor real estate and marriage, and will be treated with those revenues as income local be distributed among sections of the budget. "
[radronin] Takin care of their folks it seems!!
[millionday] wow so this is very interesting to say the least -- it sounds like a smooth way to get around the budget by the way they are doing this
[millionday] i agree