Millionday News 5/11/15
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Millionday: The Commission on the economy and investment parliamentary vote on the investment law in the next parliamentary session.
He said committee member Ahmed Salim told Today, the "Committee for the economy is developing the necessary adjustments in order to overcome all the obstacles, which prevent the implementation of investment projects in the country.
Millionday: NOTE -- THEY ARE WORKING ON THE OBSTACLES NOW THAT WILL PREVENT THE INVESTMENT LAW FROM ITS SMOOTH APPLICATION --
Millionday: He added that "investment of important laws that will provide a suitable and attractive ground law Arab investors and foreigners, and if approved will cast Bdilalh the economic reality in the country, especially We are experiencing an economic crisis as a result of lower oil prices.
Millionday: NOTE -- IF THE INVESTMENT LAW GOES THROUGH TO LAW THEY HAVE A PLAN OF MAKING THE IRAQI ECONOMY THAT OF REALITY –
THIS WILL TAKE IT OUT OF CRISIS AND ALSO BE A RESULT OF LOW OIL PRICES AND A STABLE CONDITION THEY HAVE REPORTED AT THIS TIME IN DIFFERENT REPORTS WE HAVE READ
Millionday: NOTE -- THE NEED OF IRAQ TO ACTIVATE THE OTHER SECTORS IS CLEAR AND THEY ARE IN GREAT NEED OF DIVERISTY --
Millionday: The House of Representatives ended the second reading of the law of investment in the past week, as demanded Chairman of the amendment of the Investment Law MP for the Economic Commission Nora Albjara political blocs not to rush the approval of amendment of the Investment Law.
Millionday: NOTE -- THEY HAVE TAKEN TIME FOR THIS LAW IN ORDER FOR IT TO BE APPLICABLE FOR THE NEXT 20 YEARS ACCORDING TO THE GOALS THEY HAVE SET
Millionday: and stressed that "we do not want the adoption of the Investment Law and the urgency to vote on the amended only after the finalization of all the necessary adjustments that come public benefit in order not to amend the law again in the future; because the amendment of laws is much harder than New legislation is ".
Millionday: SO AS WE SEE HERE -- THE TIME BEING TAKEN IS TO DO IT RIGHT IN THE FIRST PLACE
Bax: so its still on for next Tuesday then?
Bax: like 8 days from now?
Millionday: IT APPEARS THAT IT SHOULD BE BUT I WOULD NOT BE SURPRISED TO SEE IT SOONER
Papatom: so what do you think the odds are, the investment law will be voted thru just before the Central Bank law is reported being voted thru....?? hmmmm MD?
Millionday: I COULD ONLY GUESS AND THAT IS NOT VERY GOOD -- I WOULD LIKE TO WAIT FOR INK -- THE BEST WAY TO KNOW AT THIS POINT
Millionday: UNDERSTAND THAT THIS IS ALL ABOUT THE MONETARY POLICY
Millionday: Said Advisor to the Prime Minister of Iraq for Economic Affairs, the appearance of Mohammed Saleh, that the draft Print Central Bank of Iraq large cash categories,
an important step on the road to monetary reform, which supports the country's economy,
pointing to a market need for large denominations, and to handle a very large monetary blocs in Iraq, especially that cash payments outweigh the instruments to deal cards and electronic payments.
Millionday: NOTE -- THE LARGE DENOMS ARE FOR CASH PAYMENTS FOR THE COUNTRY NOT FOR REGULAR MONETARY POLICY AND CITIZEN DISTRIBUTION
Millionday: He pointed out that the "Print large cash categories project is not about monetary policy but the payments system management, pointing out that this plan will be condensed amounts of money, especially large groups that make up 90 percent of the money supply in circulation."
He explained in a statement that "put these large groups is to put the monthly same amount of money supply in the market but different categories, and not increase the original amount. He ruled out the potential for inflation by the implementation of the project, pointing out that" the central "does not lend the government."
Millionday: NOTE -- THEY STATED IT WAS FOR STRATEGIC MEANS AND NOT FOR THE CIRCULATION OF THE DINAR -- MONETARY POLICY IS TOTALLY DIFFERENT THAN THE COUNTRY PAYMENT SYSTEM
Millionday: n the case of lending to the government and the issuance of large cash categories can get inflation in prices, as the country suffered a contraction in liquidity, whether in dollars or dinars with total money supply in Iraq size less than 40 trillion dinars (about US $ 31 billion).
The traders in the currency market fears of a new high amounts of cash currency issue, pointing out that such a measure would lead to the loss of monetary value, as it is imperative that any action aimed at revitalizing economic sectors.
Millionday: SO THE USE OF THESE HIGH DENOMS WOULD HURT THE ECONOMY POLICY NOT HELP IT -- AND IT IS NOT PART OF THE NEW POLICY AS STATED HERE
Papatom: the remittance system....is that what they were talking about at the end of the auctions?
Millionday: THE REMITTANCE SYSTEM IS THE EXCHANGE SYSTEM IN THE BANKING AND ECONOMIC SYSTEM WITH THE WORLD
Millionday: HERE IS THE REMITTANCE AND WHAT IT MEANS IN TERMS
Millionday: DEFINITION OF 'REMITTANCE' -- The process of sending money to remove an obligation. This is most often done through an electronic network, wire transfer or mail. The term also refers to the amount of money being sent to remove the obligation.
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Millionday: IT HAS A LOT OF MANY INTERESTING SUBJECTS LISTED THAT ARE SO HELPFUL FOR YOU TO UNDERSTAND THINGS ON A LEVEL THAT WILL LET YOU UNDERSTAND SOME ISSUE FOR INVESTMENT AND FOR SOME QUESTIONS YOU HAVE FOR YOUR PERSONAL UNDERTANDING SO SAVE THE SITE
tman23: pointing to a market need for large denominations, especially that cash payments outweigh the instruments to deal cards and electronic payments.
MARKET NEEDS ?? CASH PAYMENTS OUTWEIGH "INSTRUMENTS TO DEAL WITH CARDS" AND ELECTRONIC PAYMENTS ????? NOT ALL VENDORS/STORES/AND MARKETS HAVE CARD SWIPES AND NOT ALL ARE SET UP FOR ELECTRONIC PAYMENTS....
.CASH USAGE OUTWEIGHS THE USE OF THE CARDS..........THE CARDS ARE USED AT ATMS AND "PORTS" TO GET CASH......
tman23: It appears that they are speaking on main street usage per se'.......the higher note needed for main street and cash payments outweigh card terminals available.....
tman23: What is so convincing that the 50k note is not for main street......
Millionday: IT AMOUNTS TO $42 + SO NOT MUCH FOR A VENDER AND I AM SURE NOT A HUGE ECONOMIC MOVE FOR THE ECONOMY FOR IRAQ –
THIS IS FOR THE PAYMENT SYSTEM AND HAS BEEN MADE CLEAR TO BE FOR STRATEGIC MOVES THAT THEY HAVE NOT MADE CLEAR IS YOU LOOK AT PAYMENT SYSTEMS -- THIS IS WHAT YOU GET -- BRB
Millionday: The payment system is the infrastructure (consisting of institutions, instruments, rules, procedures, standards, and technical means) established to effect the transfer of monetary value between parties discharging mutual obligations.
Millionday: IN THE CASE OF THE IRAQI SYSTEM IT WILL BE FOR PAYMENTS THAT HAVE TO DO WITH DEBT OWED
Millionday: THEY HAVE MADE IT CLEAR FOR A REASON TO NOT BE FOR EVERYDAY USE SO IT HAS TO BE FOR DEBT PAYMENT
AND THEY ARE NOT GOING TO PAY AN AMOUNT OF CURRENCY THAT MAY CHANGE IN VALUE OR HAS THE OPPORTUNITY TO RAISE IN VALUE -- SO VERY INTERESTING AND OBVIOUSLY SOME THING TO FOLLLOW
Millionday: UNDERSTAND THIS IS THE NEW SERIES
tman23: IF intra-bank usage then I am to assume banks will carry 50k notes as part of their balance to meet minimum balance required by the CBI and......if stolen etc.. they would not be able to be used in all reality due to their value........
tman23: This 50k has become quite the mystery to me...... given the reality of several options for speculation........ Sorry for the interruption.... do not want to slow the news.......
Millionday: Stressed the Supreme Islamic Iraqi Council said Monday that his position clear from the unity of Iraq's land and people and in the future, and that he hoped the establishment of a comprehensive settlement between the components of the Iraqi people
Millionday: OBVIOUSLY THIS IS THE NATIONAL RECONCILIATION AND IF YOU WERE NOT HERE -- THIS IS TO HAPPEN WHEN THE PRESODENT RETURNS FROM IRAN -- THEY ARE PREPARED AND READY FOR ITS CONFERENCE
Millionday: THIS IS A MAJOR EVENT IN IRAQ AND IS OF COURSE A HUGE HUGE PROGESSION FOR THE COUNTRY
Millionday: WE HAVE SUCH LITTLE NEWS THAT I AM PULLING FROM RESOURCES I HAVE NOT USED IN A LONG TIME
Millionday: HERE WE GO WITH SOME PRESSURE
Millionday: Head of the Iraqi Kurdistan region, Massoud Barzani / said on Monday that the province will export oil independently if they do not get a share of Iraq's federal budget.
The Hungarian President Viktor Orban expressed his country's support for the independence of the province of Kurdistan, stressing that the region possesses the qualifications of state.
Millionday: This came in a joint press conference between the two sides in the Hungarian capital Budapest, where he arrived the region's president on an official visit from Washington.
Barzani said at the conference that followed the Twilight News that the Kurdistan Region is committed to the agreement signed between the governments in Baghdad and Erbil all the provisions, which is included in the budget of 2015.
Millionday: NOTE -- TODAY THEY STATED THEY WERE BOTH COMMITTED TO THE AGREEMENT SO I DONT SEE THIS AS A WORRY
Millionday: He added that the federal government fulfill the terms of the agreement so that the province pay its debts accumulated by the federal budget cut him last year and having had internal and external borrowing.
Barzani threatened by saying, "in the absence of the other party's commitment to sending the region's share of the budget we will sell oil independently."
Millionday: NOTE -- PRESSURE TO PAY THEIR PORTIONS TO THE KURDISTAN REGION --- NICE
Millionday: The two sides signed the agreement late last year and includes the export of the region 550 000 barrels per day of oil from the Kirkuk fields and fields owned by him and the line extended to the Turkish port of Ceyhan.
In contrast to the Baghdad push the region's share of the financial budget, amounting to 17 percent. It was included in the agreement for the current year's budget of the country.
Millionday: NOTE -- AS WE KNOW IT IS NOT ONLY THE 17% BUT ALSO THE DISBURSEMENT AS WELL
Millionday: Complain the region of non-receipt of the full monthly share of Baghdad. At a time in which Baghdad says she is suffering from a financial crisis due to falling oil prices and rising military campaign against Daash costs.
And increased the amount of crude through the pipeline Source Kurdish line steadily since the start of pumping oil in favor of the federal government late last year even exceeded last month agreed average of 550 000 barrels per day.
Millionday: NOTE -- NOW HERE IS THE POINT MADE
Millionday: Barzani said at the conference that "Baghdad has not sent the region's share amounting to 17% of the general budget, and if it refrained from sending the right of the region, then the region will be forced to sell oil independently to pay its debts."
President of the region also reported that "Hungary was an important support for the Kurdistan Region, at this stage," expected future fruitful between the Kurdistan region and Hungary.
Millionday: "The people of Kurdistan is facing the toughest and fiercest terrorist group in the region, but, thank God, was able to Peshmerga forces with the support of the international coalition to defeat this terrorist group and defeat."
Barzani praised the role of the Hungarian Parliament and the people of Hungary, noting in this regard the decision to send a military force to the Hungarian Kurdistan to train the Peshmerga forces.
Millionday: NOTE -- THIS BRINGS NEW LIGHT TO WHAT CAN HAPPEN AND OTHER OPTIONS THAT I AM SURE ARE NOT EMBRACED
Millionday: In turn, the Hungarian president said that his meeting with the President of Kurdistan, touched on the bilateral relations between the two parties and the importance of supporting the Kurds in the war against al-Daash.
"We support all seeking independence, and Kurdistan have qualifications enabling them to achieve their aspirations."
He noted that "the Kurds can play a very important role in the international community, and this is the point of Nzernna about the future of the people of Kurdistan."
Millionday: SO AS WE KNOW THE RETURN OF THE IRAQI PRESIDENT AFTER THE IRAN VISIT THAT WILL LAST THREE DAYS WILL COME WITH THE NATIONAL RECONCILATION CONFERENCE –
SO VERY GOOD TO SAY THE LEAST -- OPTIONS SUCH AS THIS WILL BE MET WITH REFORMS AND UNITY IN IRAQ --- SO VERY INTERESTING TO SAY THE LEAST
beth: The meeting with Masum and Iran, did that start today?
beth: I see that it is supposed to last for 3 days
Millionday: IT LOOKS LIKE IT HAS BUT I HAVE NO INK WITH DATE -- THE NEWS SEEMS TO REFER TO JUST THAT BUT I WANT A DATE IN INK
Millionday: SORRY I WONT GUESS LIKE SOME BUT I HAVE TO HAVE FACTS TO GIVE YOU OR IT IS JUST A GUESS
Millionday: NEWS IS SHORT TODAY
Millionday: WE WILL SEE YOU TOMORROW NIGHT AT 730 EST AT NEWSTIME