Millionday News 9/13/14 Part 1
Welcome to dinarupdates.com for news time with Millionday!
[millionday] HERE WE GO -- YOU REMEMBER WHEN THE US OF A HAD A THREAT TO LOSE THEIR CREDIT RATING AND IT WOULD EFFECT OUR INTEREST RATE IN THE GLOBAL BANKING WORLD AND SOME OTHER THINGS TO DO WITH LOANS AND DEBT -- ECT
[millionday] AN INTERNATIONALLY RECOGNIZED COUNTRY HAS A CREDIT RATING TO DO WITH INTERNATIONAL BANKING AND ECONOMICS ALL TOGETHER FOR DEBTS AND THE LIST GOES ON -- PER CREDIT AT THE COUNTRY LEVEL
[millionday] BRB WITH NEWS ON THIS FOR IRAQ
[millionday] HERE WE GO -- al-Hashemi, Iraq achieved great success, with the help of financial institutions and international companies specialized control and financial auditing and accounting through brought in to those companies,
in extinguishing a large proportion of its foreign debt, as it is hoped to contribute to these companies and institutions in Iraq to get the credit rating.
[millionday] NOTE --AS WITH THE INDIVIDUAL -- THE LESS YOU OWE THE HIGHER YOUR CREDIT RATING IS -- THE SAME WITH COUNTRIES
[millionday] confirmed expert Economist Dr. Hilal Taan that those companies have contributed significantly to the development of Iraqi competencies in the field of audit and control and accounting of what will result,
to speed up access to the credit rating of Iraq being a help to the country's progress in the peace International Classification according to international standards after the liberation entirely of its financial obligations International.
was The government has embarked on since 2004 contracted with a number of consulting firms in the financial aspects of the audit, accounting and legal,
along with two banks WCW as external advisors who provide advice, support, and consulting with all Maitalq settlement of Iraq's foreign debts.
[millionday] NOTE -- THE PAYMENT OF DEBT THAT HAS TAKEN PLACE FROM 2004 AND ON HAS HELPED WITH THEIR RATING AS IT IS BEING PLACED
[millionday] said Taan that the government step of contracting with these institutions is very good, but he also said that it does not mean dispensing with the experiences of Iraqi cadres and efficiency in this area,
explaining that it contributed to the development of cadres of the country through their participation in the work with foreign experts on dealing in the management of files computational scientific methods of modern.
[millionday] NOTE -- THE ADDITION OF ADVANCED AND MODERN ECONOMIC TOOLS WITHIN BANKING AND FINANCE IN GENERAL HAS ALSO PLAYED A HUGE ROLL IN ITS RATING CALCULATION AND AUDITING
[millionday] adding that the companies have achieved clear success in containing the debt and extinguish, It also had a prominent role in collaboration with the Central Bank and Ministry of Finance in this topic,
stressing the need for Iraq to consulting firms accounting and auditing for the purpose of audit according to international standards to the fact that any country in the world should be available by the international measurements of balance and the balance of the currency and financial resources and mechanism of distributed and spent.
[millionday] NOTE -- THEY HAVE PAID BACK DEBT BY THE PORTION THAT WAS AVAILABLE TO THEM DURING THIS TIME AND THIS HAS HELPED IN THEIR POSSIBLE RATING
[millionday] mentions The institutions contracted by the government with it are all from Ernst & Young (Chancellor of accounting and Checksum) is responsible for auditing and matching Iraq's foreign debt,
and the Foundation Cleary Kutlob (outside legal counsel) and the Foundation for Lazard French (financial advisor) mission cooperation and provide support and coordination between the Ministry of Finance The Iraqi Central Bank and the Paris Club countries braved the (18) state all the money linked to the settlement of the debt due to its close relationship with the countries of the club.
[millionday] NOTE --DUE TO THE STATEMENTS FROM THE COUNTRIES OWED THAT DO HAVE A CREDIT RATING AND ARE RECOGNIZED BY ERNST &YOUNG -- IRAQ HAS SHOWN PAYMENTS AS THEY HAVE AGREED TO
[millionday] Foundation Houlihan Lokey English, a financial advisor outside (negotiating) to the Ministry of Finance is responsible for providing support to each Maitalq settlement of debt countries the London Club or (non-member states of the Paris Club) and Masstasta Krupp and JP Morgan
and two banks mission is to provide support to the Ministry of Finance to settle the debts of trade creditors foreigners (foreign private sector) has been assigned the task to them due to the wide spread of homosexuality around the world, along with the large number of trade creditors.
[millionday] SO AS WE SE -- THAT IS A BAD TRANSLATION BUT THE MEANING IS THAT THEY HAVE DONE WELL IN THEIR REPAYMENT OF DEBT AND THIS WILL SHOW IN THEIR CREDIT RATING THAT IS BEING CALCULATED
[slh5282] do we have an idea as to what the rating will be?
[millionday] NO THEY HAVE NOT APPLIED IT YET
katkat] How will recent article of scandal and bankruptcy affect this?
[millionday] BANKRUPTCY OF IRAQ?
[millionday] THE ACTUAL FIGURES AND FACTS ARE USED TO GIVE THE CREDIT RATING -- /
SO THE PAYMENTS MADE TO OWED COUNTRIES AND ITS CURRENCY VALUE WILL BE WHAT IS USED TO APPLY THE RATING -- THE REPORTS OF OPINIONS HAVE NO BEARING ON IT
[Craveman] MD, would like your opinion, as usual a Kap statement re: Says: redenominate (LOP) the notes equal (commensurate) Re: following:This statement is not good..."the need to head the central bank to restructure the Iraqi currency and delete the zeros commensurate with the value of the dollar and raise the value of the Iraqi currency against the currencies of countries Jawarwalamlat the world."
[millionday] THERE IS A NEED TO REMOVE THE THREE ZERO CURRENCY IN ORDER TO APPLY THE NEW VALUE OF THE DINAR -- AS THEY WONT BE OF USE WHEN THE NEW VALUE IS APPLIED TO ALL CURRENCIES AND TO THE IRAQI PRICES
[quicktolegit96] you say currency value ABOVE....IF they rv the currency, do you think iyo this will give them a higher credit rating or do they get a credit rating first?
[Craveman] I guess the word commensurate is under the microscope...
[millionday] THE PAYMENT OF DEBT AND ALSO THE CORRECT PRICE FOR THEIR CURRENCY FOR POINT OF TENDER WILL AFFECT THEIR CREDIT RATING ---
THE CREIDT RATING GIVES AN INTEREST RATE FOR LOANS FOR THE COUNTRY AND ALSO APPLIES THE CONFIDENCE IN THE COUNTRY TO FOLLOW THROUGH WITH AGREEMENTS MADE ---
[The Shoe] Then why in the world would they be releasing these new 10,000 dinar notes?
The Shoe] If they won't be of use?
[millionday] THE STATEMENT THEY MADE IS THAT THEY ARE ALL TORN AND THEY WILL REMAIN IN THE SERIES AS WILL THE 100,000$ BILL FOR THE US OF AMERICA -----
THEY STATED THEY WILL BE USED FOR OTHER STRATEGIC REASONS AND WILL NOT BE ON THE STREETS FOR THE AVERAGE TRANSACTIONS
[sudo1114] What is process for re pricing their products in country? Are they working on it and is this a delay to RV as they reset in country????
[millionday] THE PRICING INDEX WILL BE GIVEN TO CITIZENS AS THEY HAVE REPORTED OR I BELEIEVE ACTUALLY THEY HAVE RECEIVED THE CITIZEN BUDGET ACTUALLY AND
THE MERCHANTS WILL RECEIVE THEIR PRICING INDEX AS WELL – AND THE PRICES WILL BE CHANGED –
PART OF THIS THAT WE HAVE SEEN IS THE RULES SET BY CBI THAT CURRENCY EXCHANGES THAT ARE DONE WITH UNLICENSED BANKS OR COMPANIES IS AGAINST THE LAW –
THEY HAVE BEGUN WITH THE INFORMATION FOR THIS CHANGE AND DATA ENTRY WILL BE USED AS MUCH AS POSSIBLE
[jtank] would a high aaa rating bring lower interest rates ?
[millionday] YES THE HIGHER THE CREDIT RATING THE LOWER THE INTEREST RATE FOR THE COUNTRY
[millionday] HERE WE GO
[millionday] THE PROGRAMS THAT HAVE BEEN VOTED THROUGH -- (GOV) WILL LOWER THE COST OF LIVING AS WELL AS OTHER THINGS
[millionday] Farah pumice government is seeking through the implementation of its program to achieve the standard of living and a service to the citizen meets the requirements essential to live in dignity on in accordance with the principles of the actor committed to the effective programs and strategies in place in advance the most prominent development strategy
Aloutnah.oppema particular occur Member of Parliament Dr Ibrahim Bahr al-Ulum, indicating that the program government relied mainly on the premises useful at the level of state-building
[millionday] NOTE -- THE GOVERNMENT PROGRAMS ARE TO REBUILD THE STATE AND ALSO BRING JOBS AND REPLACE THE COUNTRY WITH OPPORTUNITIES
[millionday] the most important activation of decentralized management and starting a revolution administrative to rebuild state institutions and activating the principle of accountability,
along with the adoption of consulting offices with expertise in terms of planning, as well as the economic vision in the shift towards the principle of private sector in various fields.
[millionday] NOTE -- ACTIVATING THE ECONOMIC VISION --
[millionday] added Bahr al-Ulum that "basic premises are useful for activating the program as if it were cooperation and coordination with the House of Representatives in the field of legislation and oversight, and the adoption of these basic principles in the field of development and bear arms,
however, the state and the interest of foreign policy that is based on common interests," stressing that it will be effective as if they were adhered to in accordance with the activation of programs and
strategies in place in advance, including strategy development Aloutnah.okan government program presented by the Prime Minister Haider Abadi,
the House of Representatives last Monday has met with wide acceptance by members of Parliament, as approved by the Council by an absolute majority.
[millionday] NOTE -- THE PROGRAMS FOR THE COUNTRY HAVE BEEN VOTED THROUGH AND THEY ARE TO MOVE FORWARD AND TO ACTIVATE ALL STRATEGIES TO PUT IRAQ BACK ON THE MAP AND REBUILD
[millionday] NOTE -- UNDERSTAND THEY ARE TALKING ABOUT THE ENTIRE REFORM PACKAGES --
[millionday] continued Bahr al-Ulum : The basic items that depend on them the reform process is to combat corruption and improve the financial management system and activate the transformation of the rentier to the system depends on broadening the base of other productive sectors,
in addition to providing the investment environment appropriate, all you need to reform programs of economic, administrative and institutional, to contribute to improving Indeed,
the service has Aama.kma that the government program depends on maximizing state revenues,
including oil revenues, at least in the short term and rely on increased production which is linked to the absorption of the production of the Kurdistan region and the activation system Kirkuk fields
[millionday] NOTE -- THE ECONOMIC , ADMINISTRATIVE, AND INSTITUTIONAL REFORMS -- THEY HAVE BEEN VOTED THROUGH ----
[millionday] , taking into consideration the current circumstances, it halted, considering that the main theme the financial revenue of the state is oil,
so the mechanisms and strategies adopted by the government from one location to another depends on the ability of financial and economic institutions, as it is necessary to work on its activation to be absorbed this production,
which is estimated at about half a million barrels a day if they were to invest the entire revenue that goes to Iraq , he says.
[millionday] NOTE -- THEY HAVE TO ACTIVATE OTHER INDUSTRIES TO SUPPORT THEIR ECONOMY OTHER THAN JUST OIL AND THAT IS IN THE PROCESS ----
THIS IS DEPENDANT ON LOANS AND STRATEGY OF ALL FINANCIAL INSTITUTIONS -- AND THE REFORMS
[millionday] Nevertheless, the Bahr al-Ulum urged to implement the program in a practical and beneficial distinctive and systematically in line with the legislation and the visions of the House of Representatives and the legislation of laws required and basically build a strategy to fight corruption,
which is reflected as a positive citizen, also will contribute to the improvement of living conditions and upgrading the service thus raise the level of human development that are related to the basic resource for household income.
[millionday] SO A RESULT OF THE ECONOMIC REFORMS AND REALLY ALL REFORMS IS THE RAISE OF THE COMMON HOUSE HOLD`S INCOME AND THAT IS PART OF THE REFORMS -- THEY ARE MOVING FORWARD -- LOVE IT
[millionday] WHOOOPOW -- THIS IS GREAT
[slh5282] so taking all of this into consideration, did I understand correctly they are voting on the budget this next week?
[millionday] IT DIDNT HAVE ANYTHING IN IT ABOUT THE BUDGET BUT I BELEIVE I HAVE A REPORT ON IT IN JUST A SEC
[love it 2] who is ...the Bahr al-Ulum ?
[love it 2] and how do you pronounce it ?... lol
[millionday] I BELIEVE HE IS THE OIL MINISTER BUT WILL LOOK AND SEE
[The Shoe] Is everything you are talking about here covered in the new budget?
[millionday] THE REFORMS ARE COVERED IN THE BUDGET YES --
[kenster] Please humor me. Is the rate tied to the budget?
[millionday] YES THE VALUE OF THE DINAR WOULD BE TIED TO THE BUDGET
[naphtali] That isn't to say the budget has to be opened to show the rate Right?
[millionday] ONE OF the Bahr al-Ulum WAS THE PRIME MINISTER OF IRAQ AT ONE TIME AND ALL OF THE FAMILY HAVE PLAYED SOME TYPE OF ROLE IN ITS GOVERNMENT IN ONE WAY OR ANOTHER THROUGH HISTORY –
SO HE IS RESPECTED FOR THAT AND WHICH ONE IT IS TALKING THE REPORT DOES NOT STATE SO HARD TO SAY
[millionday] naphtali THE BUDGET HAS BEEN REPORTED TO BE EXPECTED TO BE OPENED OCTOBER 1ST OF THIS YEAR
[millionday] BRB WITH MORE
[millionday] HERE IS SOME INFORMATION ON THE STOCK MARKET
[millionday] Confirmed that the Securities Commission exceeded foreign investment exceeded 455 million shares for the past week. said the head of the d. Abdul Razzaq al-Saadi said the body was committed to its plan of action aimed at activating investments in the local stock market through the adoption of disclosure and transparency in their programs,
as well as the trend to continue scientific developments witnessed by the world, pointing to its role in activating the traffic volume on the exchange. said in an interview for "morning,"
said Authority is committed to providing all the information for those wishing to invest in the field of stocks to form a clear idea of all listed companies within the Iraqi Stock Exchange.
[millionday] NOTE -- THIS IS INTERNATIONAL COMPLIANCE BECAUSE COMPANIES THAT HAVE PUBLIC SHARES ARE REQUIRED TO HAVE TRANSPARENCY AND IT IS TO BE CORRECT BY LAW ---
THIS IS SAYING THAT COMPANIES ARE TO HAVE AVAILABLE ON LINE THE INFORMATION OF THEIR REVENUES AS FAR AS SUCCESS AND FAILURES –
THE INFORMATION ACT WOULD BE APPLIED FOR INVESTORS SO THIS SHOWS THE MOVE COMING TO THE GLOBE TO COMPLY INTERNATIONALLY WITH LAWS AND REGULATIONS USED NOW
[millionday] said in an interview for the "morning" that the Commission issued a bulletin weekly included corporate winners and losers and most active by value traded,
as well as levels of trading foreign Buy Sell Net investment weekly. He said the companies contributing Winning spearheaded by the cities of Mosul Games and the Middle East for the production of the ears and the company Bank of Babylon,
either loss-making companies Vtsdrtha Company production of ready-made clothes and company Elaph Islamic Bank and Company Ashur International Bank.
[millionday] NOTE -- THE ISSUED BULLETIN WILL BE REPLACED BY ON LINE RESOURCES WHEN THEY ARE MORE ADVANCED IN ALL OF IRAQ
[millionday] , and pointed out that the companies most active by value traded topped the company Iraqi Islamic Bank Company and Bank of Baghdad,’
as well as the company Bank of the Gulf and the company Sumer Commercial Bank. Saadi, said the daily bulletin of the last day of last week saw the trading of 43 companies shares rose 12 Company Shares of 15 companies contribution recipe stability haunted shares of 16 Cherkh.
obin index most profitable companies and spearheaded the company bank Babylon Inc.
City Games Karkh and the cities of Mosul Games, while stopping Enterprises Index Losers at the company Ishtar Hotel Company and Modern Painting and Iraqi dates.
[millionday] increased the newsletter included the companies most active by number of shares traded and the trading volume was in the forefront of companies, ‘
Gulf Bank and Al-Mansour Bank and Bank of Baghdad , revealing the number of contracts, which amounted to 526 contracts.
Saadi stressed that the movement of share trading in the Iraqi market for securities moving direction is consistent and ambitious administration,
despite the fact that the future plans aimed at the adoption of mechanisms of action commensurate with the size of the Iraqi economy and its impact on the international level.