Millionday News 10/23/14 PART 1
Welcome to Dinarupdates.com for news time with Millionday!
Millionday: THE NEWS IS SO GOOD I AM SO EXCITED TO SHOW YOU
Millionday: IT IS GOING TO BE A GREAT ONE AND ALSO --- IT SHOWS JUST HOW CLOSE WE ARE RIGHT NOW --- IT IS JUST LIKE A --------WHOOOOPOW
Millionday: I HOPE EVERYONE IS IN TONIGHT -- IT IS SUCH A GREAT NEWSTIME
Millionday: MASSIVE NEWSTIME AND ALL HUGE HUGE PROGRESS
Millionday: BUT THIS IS ALL ACTION AND NOT RESEARCH -- ALL ACTION DONE BY IRAQ
Millionday: Fatlawi promised investment Academy nerve essential foundation which exceeds its economic borders to the security and political aspects of society.
The professor of international relations at Baghdad University, Dr. Basma Alaoqati »Sabah» that investment is the beginning of the starting sequence solutions to all economic problems,
pointing to the need to develop economic relations with the countries of the region and the world and create frameworks for foreign partnerships with investors by finding solutions to the complexities Tusbandm inside and outside the country .
Millionday: NOTE -- THEY HAVE BEGUN ALL ECONOMIC STEPS FOR INTERNATIONAL RELATIONS WITH THE REGION AND THE WORLD
Millionday: strategies aimed She noted that the state of health of the economy is reflected finding strategies aimed at attracting foreign investments as a result of availability of positives and advantages to countries that lack the technological aspect,
in particular, accompanied by reflections on the social aspect by providing job opportunities for the unemployed and training on modern technological methods usually so entrance to alleviate poverty and reduce unemployment as much as possible of the workers and the withdrawal not to mention the speed to do projects and private projects that have a contactless lives of citizens, particularly the housing projects suffered by the country's approximately four decades.
Millionday: NOTE -- THE BEGINNING OF THE ECONOMIC REFORMS AND ALSO THE INTERNATIONAL CONTRACTS ARE DESIGNED TO MINIMIZE THE UNEMPLOYMENT AND ALSO POVERTY WHILE BEGINNING ALL PROJECTS POSSIBLE AS FAST AS POSSIBLE
Millionday: Noted Alaoqati in responding gallery for Question »Sabah» about the possibility of going out of the financial distress of Iraq due to the decline in world oil prices that there are aspects of the force must be activated and to benefit from the effect involves the federal budget funding warning to continue relying on revenues of natural resources.
Millionday: NOTE -- THE PROJECTS THEY ARE BEGINNING WILL HELP WITH IRAQ`S ECONOMIC CONDITION DUE TO THE TIME THAT HAS GONE BY WITH ONLY OIL AS REVENUE DUE TO THE MOVE TO THE MARKET ECONOMY AND PRIVATE SECTOR REVENUES –
SO THE ECONOMY WILL NOW BE MOVING IN THE RIGHT DIRECTION
Millionday: finance budgets and urged the need to diversify sources of income to finance the budget and increase the gross domestic product and the disposal of the case lax in industrial activity and other activities in the light of the current crisis experienced by the rents oil and the decline in world oil prices.
concluded Alaoqati her reference to the importance of speed to take serious steps in the investment aspects of being a component basis in the field of development and as part of the approaches and solutions to economic issues and the transition to a new level of sophistication befitting Iraq, she said.
Millionday: THE MOVE OF ALL OF THESE CONTRACTS WILL BE DONE WITH GREAT SPEED DUE TO THE LOSS OF REVENUES DUE TO OIL PRICES AND THE LACK OF DIVERSITY WITHIN THE GDP--
THE STEPS NEEDED IN IRAQ`S DEVELOPMENT INCLUDE SPEED IN THE MARKET TRANSITION -- THE MARKET TRANSITION REQUIRES THE REALITY RATE FOR THE DINAR AND GLOBAL TRADE
Millionday: BRB WITH MORE
Millionday: Economic reform conference, which was held under the auspices of the Liberal bloc in the presence of a number of MPs and economists in a good hotel, the government set up a development bank allocates a capital of 1% of the general budget to support economic sectors, and the development of investment through the granting of facilities and privileges to investors.
Millionday: NOTE --1% OF THE BUDGET IS FOR THE DEVELOPMENT BANK TO SUPPORT ECONOMIC SECTORS AND SOME OTHER NEEDS OF INVESTORS THAT WILL COME WITH DEVELOPMENT
Millionday: He Abdalhassan Shammari head of the industrial assembly and a member of the Investment Committee problem within the Conference of the Agency / BD /: "The Conference of economic reform was held under the auspices of the political body of the bloc Liberal headed by Deputy Prime Minister Bahaa al-Araji,
in the presence of a number of members of the committees of Economy and Finance Alniabaten and the advisers in the prime minister, as well as for experts and specialists in economic affairs, so as to support economic sectors and face the crisis of lower oil prices.
Millionday: NOTE --- THE CONFERENCE OF THE ECONOMIC REFORM WAS ATTENDED BY MANY OFFICIALS AND EXPERTS AND COMMITTEE MEMBERS--ADVISORS OF PM ETC
Millionday: He added: "It was formed three committees in Congress is a committee (investment and expenditure and income) for the study of the current economic situation and come up with recommendations and decisions serve the Iraqi economy,"
he said, adding that "the most important recommendations that I've made the investment committee at the conference is to invest to develop and solve the land granted to investors problem and the land must be delivered from the state departments to the Investment Authority within 60 days from the date of implementation of the resolution as set forth in Article Investment Law No. 13 of 2006 ".
Millionday: NOTE -- THEY SET UP 3 COMMITTEES--AND STUDIED ALL PLANS AND DECISIONS-- THEY ALSO DELIVERED THE RESOLUTION THAT ALL INVESTORS THAT RECEIVE LAND GET IT WITHIN 60 DAYS
Millionday: NOTE -- HERE ARE THE REST OF THE DECISIONS MADE >>>>>
Millionday: He continued: Among the decisions reached by the Investment Committee is to agree on the establishment of a development bank investment supports economic sectors of large strategic projects,
where he devoted his 1% of the general budget for a period of seven years and extended for another seven years, "pointing out that al-Araji convey these recommendations and decisions to the Presidency of the Council of Ministers for discussion and implementation.
Millionday: And between Shammari: "This conference will present the program of the government, through the pressure of expenses and maximize resources and run economic sector of agriculture,
industry and tourism, and others for the advancement of Iraq economically and not rely on oil as a key resource in the budget and the development of appropriate mechanisms and this blurted good after exposure oil prices to fall sharply." .
He said: "These decisions we consider Ksnaaaan supporter of small and medium industries in order to eliminate unemployment and poverty scalable" .
Millionday: THIS CONFERENCE WAS THE BOW ON THE ECONOMIC REFORM AND JUST GOING OVER EVERYTHING SET UP AND ALSO THE ANNOUNCEMENTS/EXPLANATIONS OF THE DEVELOPMENT BANK FOR IRAQ`S ECONOMIC REFORMS ---
THE DECISIONS MADE ARE VERY GOOD AND SUPPORT ALL % OF THE GDP -- LOVE IT LOVE IT
The Shoe: If I am understand you correctly you are saying all of this will start now.
Millionday: NO I HAVE NOT GIVEN ANY TIME LINE HUN -- THE CONFERENCE HOWEVER IS DONE
faith1: get it ( land ) within 60 days of implementation of reality rate ?
Millionday: THE LAND MUST BE DELIVERED IN OWNERSHIP PER LAW FROM 2006 STILL IN AFFECT
Millionday: BRB WITH MORE SMILE
Millionday: Iraq's oil minister said, Adel Abdul-Mahdi, in a press statement today, we will sign a final agreement with the Kurdistan region over oil exports in the weeks Almqublh.
Millionday: THEY HAD A PRESS STATEMENT TODAY BY THE OIL MINISTER STATING THAT ALL AGREEMENTS WERE DONE WITH ERBIL AGREEMENT AND THE FORMAL SIGNING WILL BE SHOWN IN A COUPLE WEEKS OR SO
Millionday: BRB WITH MORE
Millionday: Last week, Baghdad and Erbil announced that they had reached a deal to end a lingering oil and budget dispute. Under the agreement the KRG will sell 550,000 barrels of oil a day, including 300,000 from Kirkuk province, through the Iraqi state-owned Oil Marketing Company (SOMO).
In return, the government of Prime Minister Haider Al-Abadi will start sending the Kurds about $17 billion, which is their share of the national budget, and an additional $1 billion for weapons and salaries for the Kurdish Peshmerga force.
The agreement should end a year-long crisis during which the government of former prime minister Nuri Al-Maliki ordered a freeze on the KRG’s share of the national budget over an oil dispute when Erbil started selling its crude independently.
Millionday: NOTE -- LAST WEEK THE DEAL WE READ ABOUT WITH IRAQ FEDERAL AND KURDISTAN WAS ACCEPTED AND THEY BOTH AGREED
Millionday: While Al-Abadi’s government put out a vague statement, saying that the agreement “has established that the oil belongs to all Iraqis,” the deal was immediately declared as a breakthrough by Kurdish leaders. Some Kurdish politicians even celebrated the deal as representing consent by Baghdad to Kurdish claims to Kirkuk and other disputed areas.
There are not enough details, however, to confirm whether or not the deal is a breakthrough.
It is only a one-year agreement that will cover Iraq’s 2015 state budget and clearly states that exports will be made through SOMO’s facilities in Ceyhan in Turkey
Millionday: NOTE -- THE AGREEMENT WAS THE TEMPERARY HCL THAT WE READ WAS PUT IN PLACE TO SPEED UP THE BUDGET AND THE AGREEMENTS NEEDED TO MOVE THROUGH SOMO
Millionday: The question that arises is not how the new deal was reached but why it happened now. Kurdistan has battled for years to secure exports of oil away from Baghdad’s supervision and has defied all efforts by the federal government to control the crude’s flow.
The KRG is already entangled in legal battles, including a court case in Texas filed by Baghdad to block Kurdish crude exports. In response, it has filed an appeal to overturn the Iraqi requests.
Millionday: While the plunge in the crude prices serves as a reminder of how geopolitically significant oil prices can be, there are other factors that must have influenced the Kurdish decision to agree to a deal with Baghdad that ends their independent export of oil.
A national homeland for the Kurds in Iraq has always been a nightmare for Iraq’s neighbours, with a potentially detrimental impact on regional stability.
It could lead to the division of Iraq on ethno-sectarian lines and create a ripple effect throughout the region. If that happens, oil won’t save Kurdistan from a messy and even bloody Middle East.
By signing last week’s agreement, the Kurds must have realised that they will run high risks if they continue to give the independence option priority over tangible economic interests and regional stability. That could be reason enough for the KRG to look into a different scenario, at least for now.
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