News time with Millionday at dinarupdates.com By Rudie Part 1
Comments may be made at the end of Part 2 Thank You
[millionday] here we go
[millionday] the meeting with barzani today went very well --- and i will bring what i have on that along with all other updates of course -- also
[millionday] the market conference that was so full of the many tools needed to move from an emerging market to a developed market went on today as well and we will have news about that as well
[millionday] we have read today that Basra has begun their journey to become an industry leader -- and the banner was put across the entry of basra to announce that as well
[millionday] so here i go and brb with news --feel free to ask questions after the end of report -- just let her know -- brb
Read More Link On Right
[millionday] Rashid announced the House of Representatives continued to hold its meetings and not to end the legislative term last until the adoption of the budget in accordance with the Constitution. coincides this announcement with the escalation of warnings of failure to approve the budget and its negative impact on the reality of the Iraqi citizen.
Council decision Representatives Muhammad Al-Khalidi said the lack of signs of a breakthrough to the budget crisis, despite the continuation of meetings on them.
[millionday] Khalidi said in a statement the "morning": that "the budget must be approved before the election, and so far there are no signs to be included in the near future to the lack of consensus between the blocks on them" ,
noting that "the Council of Representatives will continue until the adoption of the budget, that is, they are currently going on a week and relies on consensus on the laws and then incorporated, and until reaching the center and the province to agree about the budget items."
[millionday] note -- the budget items that are for the election time are important for the election -- the economic reform and contracts and infrastructure distribution in all items for provinces are not held up because the entire budget is not agreed on
[millionday] they have made that very clear --- projects need to begin and they are not going to hold up the entire country due to all of the budget items and they are meeting many demands that we will see as well tonight
[millionday] and added that "the delay in approving the budget will collide with the election, because the law provides for the dissolution of the 45 days before the elections, that is to say the end of his work agree March 15 next, a period of a few and not enough to pass the budget.
Article (57) of the Constitution states: "The Council of Representatives session of the annual two legislative running for eight months Internal rules will determine how they shall be held separate session does not end, who was the general budget only after approval.
[millionday] note -- the constitution states many deadlines and orders the budget to be in place as it does with all nations --- they dont get hung here but i am not sure about the results in all areas -- smile
[millionday] note -- this next part makes it seem to the citizens that they will have huge issues without the budget done for added pressure in my opinion -- as they do here with the threats that the gov will be closed etc
[millionday] In turn, the MP for the coalition of state law, Abbas al-Bayati said the delay in approving the budget has the effect of a security, economic and social in the country, because it is not just the numbers, it is money spent on investment projects.
Bayati said in a statement the "morning": that "the balance of interest to all segments of the community because it is money spent on investment projects, as well as the budgets of the security services and the purchase of sophisticated weapons and sonar system and so on, so the budget does not mean only the salaries as seen by some, but
[millionday] note -- now that is true and it produces jobs and salary agreement abilities
[millionday] disabling the budget means that there is paralysis of economic life and the security side and the commercial because our budget far from bigger budgets and allocated 40 percent of them for investment and 60 percent of the operational and this is the first time that happens to be the investment of this size, a big leap.
"said MP that the delay in approving the budget will lead to major damage Balodaan economic and security, and will not remain the same, as there will be no evolution to forward. And that "there are signatures collected by the 55 deputies for the inclusion of the budget on the agenda of future meetings, and
[millionday] in the case of non-inclusion will give a demand to the Presidency, because we see that the delay in approving the budget leads to the disabled," exclaimed the province of some deputies to meetings of the Council Representatives or even withdrawing them,
because they are of interest to the people and all the provinces. either about what the differences on the budget, he noted MP that "he is still disagreement President which revolves around the delivery of the 400 barrels of the Kurdistan region and 17 percent of the province, and
[millionday] note -- they mean that the provinces need the money to move forward -- as we know but they are also going to explain in this what the problem is so i am just going to bring the rest all the way through
[millionday] if they were to reach a solution we will be able to reach agreement on (the budget), and expressed optimism that witnessing the coming days, a breakthrough, especially now that there are many meetings in this regard, and there is a sub-committee of the Presidency and the ministers concerned recently.
as MP for the Iraqi List Haider Mulla said the delay in approving the budget a negative impact on the Iraqi reality. said Mullah "morning", he would delay investment projects and the survival of the situation for what it is, criticizing the sending government law late, he says.
[millionday] note -- they are freezing the contracts that are being demanded by the citizens so to add pressure on the parliament so they are at fault and get it done --
[millionday] end of report
[Godlover] Any bond sells yet?
[Richard Incrocci] Reports state that Sadr and 10 other MP's resigned. How does that affect m's run for third term and our liquidity event?
[txoilman] When they say reality...... Should we be saying rate ?
[christianmiles1] Aside from Kurdistan oil production requirement, what are remaining budget issues?
[millionday] any questions about the report i just brought ? we will ask about the other issues as we get to them
[slh5282] Robinredhead, are they stopping the process of the budget to put pressure on so how does that effect the change in the value or is this just another delay in the total process\
[Richard Incrocci] The 45 days req'd before elections, how does that all play into the RTV?
[millionday] christianmiles1 that is all i saw in that report and i have one more coming
[alphaone2] So the budget is at a stand off
[millionday] slh5282 i am not robin but they are not stopping the process of the budget
[millionday] they are stopping the going home part of work
[radronin] S, they are ordered to keep working till the budget is done, correct MD? & thank you for all you do!!
[millionday] they are working until the budget is complete
[millionday] radronin yes that is correct -- yw all the time hun
[Richard Incrocci] MD...How does the 45 day limit before elections affect this?
[millionday] Richard Incrocci it puts a rush on it
[alphaone2] Any ideas when we may see it resolved
[millionday] they were talking about the regulations and the constitutional demands
[millionday] alphaone2 they said in that report within a couple days as a guess
[slh5282] Millionday, so how does this relate to the announcement that was to happen today
[Richard Incrocci] Do they NEED the budget prior to release of the reality rate?
[christianmiles1] Million day, I mention it because when you do the math, the 400K bpd is well below 17% of the country's total oil production -which we know is over 90% of GDP. I'm trying to understand the disconnect.
[slh5282] How is this going to affect the WTO relationship?
[millionday] give me the floor please
[Richard Incrocci] Floor yours~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
[millionday] i can not answer all the questions of the night`s news after the first report -- i will not until i have the ink for us to look at
[Richard Incrocci] lol...sorry MD, think we're trying to gain a better understanding
[millionday] it is not fair for me to just give a list and have no reports for people that read it later
[millionday] that one report is all i have brought and this is what it says in summary
[millionday] they are almost done and parliament is working on it until it is done due to the timeline they have to have it done before elections and also it is the 2014 fiscal year budget
[millionday] Kurdistan Alliance to produce a visiting president of the region Nechirvan Barzani to Baghdad today and his meeting officials in the central government, for real results that could lead to the passing of the financial budget,
expressing hope that fruitful meeting of the parties agreements positive for an end to the outstanding problems between the province and the center, and pass the General Budget Law
millionday] this is all about the visit and the results of the budget meeting with barzani
[millionday] it will probably have the answers to all those questions -- smile
[millionday] was the general budget approved by the Council of Ministers, and referred to the Parliament for approval, stipulated that the export of Kurdistan 400 000 barrels of oil per day to be the export process by SOMO exclusively by multifactorial approved participation territorial representatives of the Committee on pricing.
comes at a time when student during which representatives of the government of the Federal House of Representatives Bamhalam this week for a meeting with the Kurdistan Regional Government in order to settle the dispute, the oil and the share of balancing the province of the budget for fiscal 2014,
[millionday] note -- kurdistan has a budget as well -- the meeting is for them to resolve the issue they did resolve -- (17%) and also to make certain that the kurd budget works along side it with all the changes and revenues
[millionday] after holding the heads of blocs and parliamentary committees held a meeting to discuss the federal budget The outstanding issues between the governments of the region and the center.
said the Kurdistan Alliance MP Mahmoud Othman said a delegation from the Kurdistan Regional Government will visit Baghdad today to discuss the outstanding problems on passing the general budget of the country. said Osman in a press statement, that
[millionday] «the prime minister of the Kurdistan region Nechirvan Barzani will visit Baghdad Today the head of a delegation to discuss the outstanding issues on the federal budget and other files »noting that« the delegation will work to overcome many of the difficulties faced by the budget it is possible to lead this visit an agreement in order to be discussion of the budget in the parliament for approval ».
On his part, MP for the Kurdistan Alliance , Khaled Huani, hope that yields a meeting of the Kurdish delegation, which is scheduled to be held today in Baghdad for positive results to end the outstanding problems and pass the General Budget Law. said Huani during a press statement:
[millionday] note -- they are planning on talking , agreeing, and going before parliament to complete it with a vote in and pass it into law
[millionday] «A Kurdistan Regional Government on the proposals the federal government has arrived in Baghdad Since last Friday, pointing out that the delegation region, headed by Prime Minister Barzani, will meet today with Deputy Prime Minister for Energy Hussain al-Shahristani to discuss the file of oil «.
added« We hope to come out of this meeting an agreement ending the outstanding problems in order to pass the General Budget Law «.
was the provincial government announced through a statement to hold the region's president held talks on Friday with Prime Minister Recep Tayyip Erdogan included bilateral cooperation in the energy file and developments in the region. statement said«
[millionday] note -- loving this one
[millionday] Barzani and his accompanying delegation, discussed with Erdogan the issue of oil and the Erbil Ankara Energy and the outstanding problems between Erbil and Baghdad ».
statement pointed out that« Erdogan reiterated his government's commitment to the Convention oil contracts with the Kurdistan Regional Government,
also reiterated during the meeting his government's support for the talks taking place between the KRG and the federal government in Baghdad in order to reach appropriate solutions to address this issue serves the interests of everyone, expressing his hope that the two sides reach a final agreement on this matter »
[8:27:20 PM] bandit060112: [millionday] note -- so the kurdistan delegation has been there since friday working everything out and they are very happy with the way things are going in the talks and are telling their citizens that they are full of hope and believe that they are reaching a final agreement
[millionday] . considered it to an MP for the Kurdistan Alliance Ashwaq dry determine the size of the central government to export oil through the constant region of 400 000 barrels of oil per day, an order over the energy Kurdistan, confirming that the region can not export this amount.
drew dry in a press statement, that the presence of paragraph punitive in the absence of export those quantities, which is «unfairness of the region», especially that that paragraph is punitive and enforceable.
[millionday] this is my favorite part of the entire announcement >>>>>>>Erdogan reiterated his government's commitment to the Convention oil contracts with the Kurdistan Regional Government, also reiterated during the meeting his government's support for the talks taking place between the KRG and the federal government in Baghdad in order to reach appropriate solutions to address this issue serves the interests of everyone,
[millionday] so the kurds are ready to start getting along and making it so that everyone involved on all sides will be happy with the end result --- the budget is very close to being done because they have decided to get along
[millionday] end of report