Millionday News 1/3/14
[millionday] we have some very important things to talk about tonight so we are going to ask questions after reports and help with copying
[millionday] first i am going to bring up some things that came out in world news today -- so first here we go - today a lot happened in Iraq -- but it is political and military of course the North of Iraq is secure and not having much problems but there is a lot going on in south
[ROBINREDHED] its a mess
[millionday] Iraq`s Military has and police etc taken charge and it is making huge progress - the attacks are all in the news and prepare to see it but let me address that we are here all about economics
Read More Link On Right
[millionday] now today some things happened on that side as well here we go with that
[millionday] erbil stock market signed today with nasdaq and that is huge huge and is expected to have that begin in the middle of the year -- also
[millionday] there has not been updates for the new year out of cbi and also the bonds are listed on there to begin with sales on the 7th of this month -- now there are some things that have happened i am bringing now to show you
[millionday] this has been stated to be not of importance by saying that it happens every year but we that have been here know that is not true - i spoke of some of this today at roundtable but will bring it again and then some -- smile
[millionday] here we go with this first
[millionday] Locals in Iraqi Kurdistan have found themselves unable to withdraw cash from their banks, despite the fact that they have enough in their accounts.
It’s a liquidity problem that recurs every year around this time. Some financial analysts suspect a plot and locals have started keeping their cash under the bed. Nawzat Qader is standing helplessly in front of a bank in the city of Sulaimaniyah, in the autonomous region of Iraqi Kurdistan.
He had wanted to withdraw a small amount of money, so that he could cover his family’s needs over the New Year period. He had deposited IQD800,000 a few weeks ago (around US$500) but when he went to the bank to withdraw it, he was told that the bank had no cash and that he would have to wait.
[millionday] now there is more that goes on about this issue but i would like to say this -- many of us were here and this was not even an issue last year bringing money out of the bank
[millionday] electricity to see your money may have been an issue but obviously we know there is more to this
[millionday] now we have some other things that have happened as well but the answer they are receiving is that they dont have any cash -- that is ridicules (ridiculous)
[millionday] we know that they have recently brought funds into the banks etc so this is very interesting obviously and we will be following this -- brb with more on this issue
[millionday] Despite the optimism, the Electoral Commission for elections in Iraq's ability mechanisms of the new monitor funding campaign for the legislative elections scheduled for April next, skeptical observers and lawmakers in the effectiveness of this system, as it confirmed that the external financing «has already begun, and in ways that can not be detected by any supervisory body ».
He announced the official spokesman for the Office chroma-Moussawi said in a statement to «life», that the Commission «has decided to extend the period of receipt of the candidate lists of political entities and coalitions to participate in the election of the House of Representatives next one week, until the end of working hours on Thursday» on the ninth of this month.
[millionday] He pointed out that the Commission «has not so far received only four lists, mostly for non-head of sub-entities», adding that «the extension aims to provide an opportunity for political entities and coalitions to provide their lists».
He pointed out that al-Moussawi «system spending on election campaigns which was approved by the Board of Commissioners, select the amounts for entities to campaigns and political parties participating in the elections, which falls within the law of Iraq's accession agreement to the United Nations anti-corruption».
He stressed that «will contribute to the confiscation of illicit funds in the financing of the election campaign and the fight against vote-buying and the monopoly of the electoral process and the corruption of elections and political life».
[millionday] And select System «ceilings financial disbursement in the campaign not to exceed expenses the campaign of the candidate per 250 dinars multiplied by the number of voters in the constituency, and select a political entity the same amount allotted to the candidate multiplied by the number of candidates for the list multiplied by the number of voters in the electoral district».
He explained that the reasons al-Moussawi, the adoption of this system is «creating equal opportunities for competition between political entities and candidates in the elections and how to achieve transparency in the collection and disbursement of funds in the campaign».
[millionday] note -- the amount per person is amazing -- that is not a lot to say the least -- there are some other issues in this report that are the reason i am bringing this
[deaconfuzz] how does this relate to the banks not giving out the money that is in individuals accounts?
[millionday] here we go with more of it
[millionday] And saw an economist Haider Dawood said in a statement to «life», that «financing menus« phenomenon exists not only in Iraq alone, but in most countries adopted the democratic system, since this depends on the interests that bind our country to the rest of the region and the world ».
He pointed out that «interests are divided into two political and economic». He defended deputy «coalition of state law» Abdul Hussein al for the contents of this system, saying that the success of the command «depends on the political parties and find funding and how the behavior».
He stressed that the Office of Financial Supervision «User is able to control the exchange as well as the central bank, which will monitor the movement of funds and inflows and outflows of deposits and revenues».
[millionday] note -- yesterday they were saying the law of financial supervision was not in place but any way -- smile there is more
[millionday] now the activation of the mechanism to move money for the funding is new -- and having the control given to both cbi and the financial supervision is also new in funding control
[millionday] as in my favorite part >>>>>>>>>>>>>>>>>> But Yasiri reduced the importance of control mechanisms on the funds moving between Iraq and abroad, and pointed out that «the regime was very strict before 2003, and must pass the security agencies, while today's companies operate more freely and less control».
[millionday] He noted the independent MP Jawad Albzona, that «phenomenon generally accepted in Iraq is that most of the laws, decrees and regulations issued Not Applicable to the absence of a solid follow up the implementation».
He added that «Permissions Commission Sttjaozha political blocs that would be willing to pay whatever fines amounted to a trickle, because they want success at any price». And violations, announced that it «exist and transfers began via traders and businessmen not politicians belonging to parties of the apparent, but the work of subcontractors within these entities, and here enters the funds in the form of camouflage and would be difficult to monitor».
[millionday] so as we see -- there is a new mechanism in place and the laws for it to move funds abroad for political elections and also whatever else they are including in this separate form
[millionday] this is new in economic laws and funding control
[millionday] i agree brb with more
[deaconfuzz] I would like to move my funds from abroad into my accounts
[aJw70] What a rockin great news night
[DBJJ] millionday Economic Laws have been passed and are being implemented then????
[millionday] i agree yes they have been dbjj
[millionday] now we know this is the fastest that iraq has ever moved
[millionday] The Kirkuk oil fields, has resumed the export operations on Friday, to the Turkish port of Ceyhan after a one-day suspension due to sabotage Northern Salahuddin province.
The source in the North oil company (News Agency): the fields of Kirkuk Friday, resumed pumping oil to the Turkish port of Ceyhan, after repairing the line President carrier was an act of sabotage near Baiji in Northern Salahuddin province.
[millionday] so this being fixed this fast is also new in our book
[millionday] brb with more
[millionday] Shahristani reveals discharged financial Baghdad morning revealed the Deputy Prime Minister for Energy Affairs , Hussein al- Shahristani , for his wealth , and with Office announced last a reconciliation of the statements of financial year 2014 , in order to activate the principle of transparency , indicated the Integrity Commission , that a large number of officials in the State , revealed disclosed their financial interests .
According to a statement issued by the Office of the Deputy Prime Minister for Energy Hussein al- Shahristani , received "morning, " a copy of it , the reconciliation took place between the Ministry of Finance and the Integrity Commission , during which delivery uncover interests that received by the Authority under the official document number " 064 925 "
[millionday] The statement , quoting Shahristani , that it comes from the principle of transparency for the detection of financial disclosure , calling on all Iraqi officials to disclose their financial interests . ,
it revealed the official spokesman of the Integrity Commission Hassan Karim pavilion in a press release , "The Commission received questionnaires revealed receivables Minister of Oil Abdul Karim defect , Justice Hassan Shammari , and municipalities and Public Works just Mhodr ,’
the head of the National Investment Commission , Sami al-Araji , the administrative agent for the Ministry of Transport Salman Bahadli , and vice president of the Shiite Endowment Sami al-Masoudi .
[millionday] note -- transparency -- smile
[millionday] " He pavilion that "the Commission also received forms for financial disclosure to the inspectors general of the Ministry of Finance Maher Hussein Rashid and the National Intelligence Service , and the governor of Karbala, Akil Turaihi ."
And said that "the head of the judge Alaa Jawad Hamid and his first deputy, Judge Ezzat Tawfik Jaafar and general managers in the body came too Bzmmanm to the financial statements of the Department of prevention in the body responsible for the receipt of forms to disclose the financial interests of senior officials and track the health of its vocabulary with banks and financial institutions and the Registrar -General of the companies and the stock market and traffic circles , real estate and other relevant institutions . "
[millionday] so as we see -- this is nothing like last year -- nothing
[millionday] they took months to get financial statements and red and i and many of you remember how ridicules (ridiculous) the time frame was
[ROBINREDHED] thank God
[millionday] i hear ya my friend
[nona] i wonder what it's like for the Iraqi people to see things happening so fast? must be a major culture shock!
[millionday] must be huge brb with more smile there was something more on the news today that i want to tell you about up to the minute if you would like to try to find it later
[millionday] maliki had troops go to one of the parliament members house and pull him out under arrest ---- from his family and 44 parliament members put in their resignation
[millionday] now this is of course going to be in the news --- they are not and many are not happy at all with maliki
[millionday] of course we are talking again political when we are here about economics --- but you need to be informed of the news where you come to get the news
[millionday] so this issue will be either accepted by the gov or it will go through in a couple weeks as far as their resignation --- this close the elections there will be a lot of news about it but as we know the economic reform and banking is not on the shoulders of the parliament member
[millionday] the progress of the economic side of iraq has to continue due to the fact that they have laws in place and of course their constitution but
[millionday] in the future when we look back to see what is going on -- know that the constitution will be updated to not allow such things as they are discussing already of course
[millionday] international help is a huge part of what is happening over this brb with more
[DBJJ] millionday I read another article that the MP had been released and the members would not disrupt the work of parliament. Sorry, don't have the articles to post.
[millionday] exactly they are continuing to work --- so they see the need and at this point seem to care about the rush on the reforms -- again not like last year at all
[nona] millionday they sure seem to be prioritizing the reforms over everything else - what a great sign
[millionday] yes i agree here we go
[millionday] MP Hussein al-Marabi of the Iraqi National Alliance called the Chairmanship of the Parliament to hold exceptional sessions for the Parliament to endorse as many as possible of the important law drafts such as the General Budget law draft.
Marabi stated to AIN “The current term of the parliament was characterized by the many vacations so I call the Chairmanship of the Parliament to reduce its vacations to be able to endorse the rest of the important law drafts.”
“Among the important law drafts is the 2014 general budget law draft which is still at the tables of the Council of Ministers,” he added, noting that “This budget is the largest in the history of Iraq which needs detailed discussions that might extend to months and this needs exceptional work of the members of the Parliament to expedite the endorsement of the budget law draft.”
The Religious Authority has called earlier the Parliament to expedite endsorsment of the important law drafts
[millionday] now as red and I told you in the last week -- no budget does not freeze the gov as we have seen in our own worlbrb with more