Millionday News 5/5/15 Part 2
Welcome to dinarupdates.com for News Time with Millionday!!
puffdragon: this morn updates mtn goat said UST and USA administration holding this up!!
puffdragon: Is that possible as we been told this is all CBI decision.
Millionday: I WOULD ASSUME THAT HIS OPINION THAT HE HAS FORMED THROUGH HIS RESEARCH –
I HAVE NOTHING BUT RESPECT FOR ANYONE THAT DOES RESEARCH AND WILL NOT COMMENT ON THEIR OPINION –
I HAVE NOT FOUND INK THAT STATES THAT THE US WANTS OR IS HOLDING UP ANYTHING TO DO WITH THE IRAQI DEVELOPMENT BUT THAT DOES NOT MEAN THAT IT IS NOT OUT THERE –
I READ ALOT BUT COULD MISS A REPORT AS I AM HUMAN -- SO I DO NOT HAVE THAT INK CONCERNING THE USA OR UST ---
Millionday: IF I FIND ANYTHING ABOUT IT I WILL BRING IT IN FOR US
Millionday: ropped the price of Brent crude oil towards $ 66 a barrel on Monday after weak Chinese data raised concerns about the demand at a time when enhanced supply approached the record levels of OPEC producers concerned glut in supply.
According to Reuters, China has witnessed the second largest oil consumer in the world's largest a decline in factory activity during the year to 48.9 in April, according to a private commercial survey today.
indicates this level of less than fifty points to a contraction compared with the previous month, this data came in the wake of the expected research institute senior government China's economic growth slowing more can to become 6.8 percent during the second quarter.
Millionday: [7:48 PM] Millionday: [7:47 PM] Millionday: NOTE -- THERE IS ALOT OF NEWS CONCERNING THE OIL PRODUCING COUNTRIES AND THE IMPACT THAT THE LOW OIL PROCES HAVE ON THEIR ECONOMY
- THE IMF HAS STATED IN INK THAT THEY HAVE PLANS TO HELP IN THOSE COUNTRIES IF NEEDED DUE TO THE OIL PRICES AND HAVE MADE IT CLEAR FOR IRAQ AS WELL ---
I FOUND THIS INTERESTING DUE TO THE $ 66 PER BARREL STATEMENT
Millionday: THE IMPACT OF THE LOW PRICES ARE GOING TO HAVE AN IMPACT ON THE ENTIRE REGION IN THE MIDDLE EAST AND ALSO OTHER COUNTRIES THAT ARE OIL PRODUCING AS WELL
Millionday: THIS WILL BE NOTICABLE IN THE MARKETS (AS IT IS MARKET PRICED) AND ALSO IN THE MANY TRADE AGREEMENTS THAT ARE EXPECTED TO BE MADE BY THOSE IN THE REGION –
THE HELP THAT HAS BECOME ACCUSTOMED TO AND SO MANY OTHER ECONOMIC AREAS '
Papatom: I don't get the IMF's timing..... now that oil is going back up..NOW they are going to loan? it was needed a month ago....what's up wit dat???
Millionday: THE IMPACT IS AFTER THE FACT -- THE REVENUES AND ALSO THE RELUCTANCE OF CONTRACTS THAT ARE NOT PRIORITY WOULD BE HELD OFF FOR A WHILE –
THE NEEDS OF CITIZENS FOR BENEFITS WILL RAISE AFTER THE FACT OF LOWER PRICES SO THE IMPACT IS WHAT THEY ARE GOING TO NEED FUNDED
Millionday: WHEN THE PRICE OF OIL WAS GETTING LOWER -- THEY HAD THE REVENUES COMING IN FROM WHEN THE PRICE WAS HIGHER -- SO IT WORKS BACKWARDS --
Millionday: MAKE SENSE ?
Papatom: So would that be an indication of reasoning why such a push is on in Iraq after the low prices...when they are coming up?
Millionday: YES THE REVENUES ARE THERE FROM THE HIGHER PRICED OIL BUT RIGHT IN THE BEGINNING OF THE DEVELOPMENT THE IMPACT OF THE LOWER PRICED OIL WILL IMPACT THEIR GDP
SO THEY NEED A FUND TO FALL BACK ON TO NOT LOSE THE CONFIDENCE THEY HAVE BUILT BY RECORDS ETC ---
SO THE AMOUNT FROM THE IMF IS WELCOMED AND SO WILL BE THE FUNDS FROM THE WORLD BANK
Papatom: and effect on their credit rating? will that have an impact there?
Millionday: GOOD QUESTION -- THE TIMING THEY ARE TRYING TO GET THEIR RATINGS FROM SHOULD ALLOW THEM TO HOLD A GOOD RATING –
THIS ADDS UNDERSTANDING TO WHY THEY ARE HUSTLING TO GET THE FINAL CREDIT RATING –
THEY NEED IT WIEN THE REVENUES ARE HIGHER AND CAN SHOW A MORE RELIABLE RATING FIGURE --
jtank: Dont they take into account that this is a new democratic country and that they have a bright future for this credit rating or is it what they see at this time period now?
Millionday: I DONT THINK THEY CAN JUST USE WHAT THEY HAVE OR ARE CONTRACTING –
THEY HAVE ANOTHER WAY OF CALCULATING IN THIS SITUATION THAT MOST HAVE NOT HEARD OF -- IT IS CALLED THE PENN EFFECT I BELIEVE
Millionday: LET ME DOUBLE CHECK BRB
Millionday: HERE IS SOME READING TO SEE WHAT I MEAN
Millionday: SO THAT REPORT HAS THE FORMULA AND ALSO THE EQUATION THAT IS USED IN OTHER WAYS AS WELL
puffdragon: Has Iraq been given a credit rating?
puffdragon: Would think they would not be getting any kind of loan without one!
Millionday: Revealed for security and defense committee parliamentary for solutions to most of the problems related to the National Guard Law, confirmed the readiness of the law for the second reading during the current legislative term.
Committee member MP Nayef al-Shammari, he pointed to the lack of differences on the National Guard Law, and that there is an understanding and dialogue between all the blocks around it,
and said »Sabah»: that yesterday saw discuss the latest matters related to law as a prelude to reach results that satisfy all parties, hoping that there is a consensus by all parties in this regard.
Millionday: NOTE -- TODAY THEY COVERED THE LAST ISSUES TO DO WITH THE NATIONAL GUARD LAW AND ARE READY THEY HOPE TO HAVE THE LAST READING AND THEN THE VOTE ---
Millionday: He added that the security and defense committee is working in a professional and put notes that serve all Iraqis, regardless of their provinces and sects,
Mushir that the committee after today's meeting will be submitted to the law of the Presidency for inclusion on the agenda, and expected to pass the law during the current legislative term.
Another member of the security and defense committee MP Majid al-Gharawi, also stressed that the National Guard is ready after the law has been reached to resolve most differences on it.
He told »Sabah»: The law is ready for the second reading, and there is no disagreement on the passed, indicating that the committee will submit the law to the Presidency for inclusion on the agenda.
Millionday: He added that this law will pass through this chapter.
Furthermore, MP from the parliamentary bloc of the citizen, Amer Al-Fayez, said that the National Guard Law was agreed on many points, leaving only thing going, and expected approval during the current legislative term.
He »Sabah» that the parliament extended his vacation on the basis of pass important laws, including the National Guard and the Federal Court, noting that most of the problems concerning the law of the National Guard have been resolved, but there remained no Marqlat possible removed.
Millionday: NOTE -- ONE OTHER LAW THAT WAS IN WITH THESE IMPORTANT LAWS THAT WAS TO BE PASSED AND RESOLVED WAS THE HCL –
SO SABAH EXTENDING HIS VACATION DUE TO THE IMPORTANT LAWS BEING RESOLVED MAY ALSO MEAN THE HCL IS READY FOR VOTE -- IT DOES NOT SAY THAT HERE BUT IT MAKES PERFECT SENSE TO ME –
SO WE SHALL SEE -- I NORMALLY DONT GIVE OPINIONS BUT -- I THINK THIS IS WHAT IT MEANS
Millionday: REMEMBER THEY WERE EVEN DECIDING IF THEY SHOULD VOTE THEM ALL THROUGH IN A BASKET -- SO THE HCL BEING IN THE PILE MAKES SENSE BUT -- WE HAVE TO WAIT AND SEE --
puffdragon: Do we know what the credit r is?
Millionday: WE DO NOT -- THERE WAS A GUESS OUT THERE THAT WAS NOT LISTED IN THE FORMAL RECORD AS A 'B' BUT I GIVE IT NO CREDIT AT THIS TIME ---
SO HAVE TO WAIT AND SEE AND HOPE THEY DO THE CALCULATION NOW AND NOT LATER
Millionday: THE BANKING INDUSTRY IS A HUGE PART OF THEIR GDP WITH ALL NEW BANKING AND THE PROBLEMS IN THE REGION AS WELL –
SO THE INTERBANK MARKET IS LOOKED AT AS A HUGE BOOST IN IRAQS REVENUES AND MARKET GAINS ---
THE CREDIT RATING IS VERY IMPORTANT FOR THE INTEREST RATES THAT WILL BE THE BASE OF THAT AVAILABLE GAIN
Millionday: WE WILL SEE YOU AT 1 EST ROUNDTABLE TOMORROW