Millionday News 10/01/14 Part 1
Welcome to dinarupdates.com for news time with Millionday!
Millionday: WELCOME TO NEWSTIME EVERYONE
Millionday: OK WELL LETS GET ROLLING - WE HAD A HUGE ROUNDTABLE TODAY
Millionday: LET ME HIT ON SOME OF THE POINTS FIRST AND THEN WE WILL MOVE FORWARD
Millionday: TONIGHT FOR THEM THEY WERE HAVING A MEETING (NATIONAL ALLIANCE) TO NAME THE MINISTERS OF INTERIOR AND DEFENSE ---
THE FEDERAL COUNCIL IS NOT DONE JUST YET BUT THEY ARE IN THE FINAL PORTION WITH THE AMMENDMENTS -- THAT IS WHY IT HAS NOT BEEN PUT IN THE GAZETTE YET AND
SO THEY HAVE DECIDED TO JOIN IN THE HELP WITH THE REGION AND USE LOGISTICS BY ALLOWING INVESTORS AND IMPORTS OR ANY OTHERS THAT WOULD RATHER TO BRING THINGS IN THROUGH FREE PORTS OF OTHER COUNTRIES IN THE REGION
Millionday: THIS IS TO HELP BRING IN MORE INVESTORS AND PRODUCTS DURING THIS TIME OF FEAR THAT HAS HAD SOME IMPACT -- IT IS A VERY STRATEGIC MOVE AND CLEVER IMO
paul-o: Does the federal council need to be seated b4 the ministers can be seated?
Millionday: NO NOT BEFORE --
Millionday: HERE WE GO
Millionday: Attributed the banking expert reasons for the weakness of the competitiveness of local banks for their lack of credit policy covers the requirements of development, comes with the desire of companies and citizens to obtain liquidity for the establishment of their projects and the development of the banking sector in line with the government program, which recognized the importance of providing an environment a necessity for the advancement of trade, finance and banking .
Millionday: Came in answer to a banking expert Mohammad Ali Jaber question (morning) on the effective participation of the private banking sector in economic development .
obin that the volume of deposits in private banks and weak banks modest compared to the government, an indication of the need to support banks to increase their capital to invest product loans and describe why the other in the lack of participation.
Millionday: NOTE -- THEY ARE GIVING LOAN GUARANTEES -- THIS IS PART OF THE BANKING REFORM AND GOV PROGRAMS
Millionday: Jaber called for creation of an institution to guarantee deposits and counted the means to that give power to private banks in front of the beneficiaries and reduce the vulnerability of trust between customers and Almassarv.oukal that this institution will help banks reduce interest rates on loans and protection from risks her due to the faltering debt are encouraging banks to raise the ceiling on credit
also and thus contribute to the actual investment through loans Altnumeih.obashon a question about the solvency and size of the capital said that the monetary policy pursued by the central bank to raise capital succeeded in achieving its goals as it launches all bank
Millionday: NOTE -- AS WE SEE HERE -- THEY ARE GIVING GUARANTEES TO LOANS BEING GIVEN FOR REFORMS TO RAISE CONFIDENCE AND ALSO THIS REPORT CLEARLY STATES THAT CBI IS PURSUING THEIR MONETARY POLICY --
Millionday: Jaber: Here lies the importance of the loan guarantee institution which encourages banks to raise the ceiling on credit and interest rate easing after the availability of liquidity,
but cautioned on the very important issue related to Ban lifted capital came at the expense of the profits of shareholders, which requires compensated later and this is what administration is seeking CBI him taking into account the lifting performance
NOTE -- THIS IS A HUGE STATEMENT --- HE IS SAYING THAT CBI IS RAISING LOAN AMOUNTS AND LOWERING INTEREST RATES AFTER THE THEY HAVE THE CASH IN THE BANKS AS AVAILABLE –
THIS IS NORMALLY USED AS A TOOL TO HELP INFLATION IN A COUNTRY -- THE PROBLEM WILL BE IN THE STOCK MARKET VALUES BUT THIS WILL BE ADJUSTED LATER –
SO THAT WOULD MEAN -- BANKING --LOANS--AND STOCK MARKET ON THE WAY -- SMILE
Millionday: NOTE -- THIS LAST PART SHOWS US CLEARLY WHERE THEY ARE GOING WITH THIS AND HOW CLOSE THIS IS
Millionday: Almassarv.obin Jaber that the solvency and size of capital through bank deposits will benefit large as strengthen the capacity of banks to buy Treasury Notes and thereby contribute to the implementation of the policy of the central aims to reduce inflation by pulling Alsjulh.
ofatt that the most important goals of the banking business lies in the employment services and lending and investment as directed deposits to invest to increase the chances of increasing the volume of loans and so on, stressing that these measures contribute to raising the competitiveness for banks to adopt a future investment.
Millionday THE UNIFIED GOVERNMENT FORMATION WAS AGREED UPON SO EVERYONE HAD A VOICE AND WHEN THE KURDS JOINED THE GOV IN THE LAST TWO DAYS AND THEY IRONED OUT THEIR PROBLEMS
THEY DID SOME SHUFFLING SO AM NOT SURE WHERE THAT LIES AT THIS POINT -- WE HOPE TO HAVE SOME GOOD REPORTS ON IT TONIGHT IN THE REPORTS I HAVE
Taking in account what do you feel is the hold up from them RV ing
Millionday: THERE HAVE BEEN MANY PRESS ANNOUNCEMENTS -- IN FACT MOST EVERYTHING IS BEING TOLD IN THEIR PRESS NOW --
THEY ARE HOLDING A MEETING TO NAME THE MINISTERS TONIGHT SO MAYBE THAT WILL BE IT
Millionday: NOTE -- THIS FIRST STATEMENT WILL SHOW YOU WITH THIS REPORT THAT THEY ARE MOVING TO LAUNCH THE ECONOMIC REFORMS AND ALL REFORMS -- WHOOOPOW --
Millionday At the first sign of the start of economic reforms, the task in the government program and entry "into effect" through the decision of the Council of Ministers to form committees to study the possibility of transforming the public sector companies to the private sector (privatization), and this step requires us to show the challenges facing the proper procedure.
Millionday: NOTE -- THE GOVERNMENT PROGRAMS ARE LAUNCHED
Millionday: Proved experience Balmoktua failed a large number of these companies to meet the needs of the country and the market and this failure is not new but a legacy and has substantive grounds which can not be mentioned here so necessary transformation,
this is what was called for experts in the economy over the years, the shift towards a market economy and that of the causes of success are privatization, a project delayed it's time to launch, as it seems, so he took this space of interest in the program and then from the beginnings of the rapid implementation of its contents.
Millionday: NOTE -- THEY ARE IN A HUGE RUSH -SO THEY LAUNCHED THE GOVERNMENT PROGRAMS TO LAUNCH THE MUCH NEEDED PRIVATIZATION FOR THEIR MOVE TO A MARKET ECONOMY
Millionday: THE most prominent challenges that stand in the way of this trend is the answer to a question that what the fate of tens of thousands of employment of the employees of these companies?
Answer simply found in the solutions and recommendations stomach and provided by consulting firms and which can be summarized in three scenarios, the first of the assignment of redundant them to retire and give them a bonus rewarding to help them find jobs of their own,
and the second is to keep the number of them who have the expertise that qualifies them to stay and the third transferred to the state departments of disciplines similar.
Millionday: NOTE -- SOME OF THE GOVERNMENT BUSINESSES ARE GOING TO BE PRIVATE NOW (PRIVATIZATION) SO THEY ARE WORKING ON THE MOVE OF ALL THE EMPLOYEES TO EITHER RETIRE OR HAVE A SIMILIAR POSITION
Millionday: Given the surplus suffered Tllk circles, the third scenario collides with the failure of a precondition, and so the likelihood of the proposed first two are more appropriate, no doubt in not taking this challenge into consideration by committees selected but recall the duty of going privatization process is smooth,
as the unemployment rate plaguing the country does not allow more when just thinking about the demobilization of labor without these two scenarios, of course.
Millionday: NOTE -- OBVIOUSLY THEY WILL NEED TO HAVE SOME TYPE OF GROUP/COMMITTEE THAT WILL HELP WITH PLACEMENT OF EMPLOYEES THAT DID WORK FOR THE GOVERNMENT BEFORE PRIVATIZATION OR THE EMPLOYMENT RATE WILL BE MUCH WORSE
Millionday: We answer a question very important that any private sector is this that has the ability to promote these companies? It is known in advance the size of the challenges faced by the Iraqi private sector and restricting its activities, particularly the power supply, a lifeline industry, technological defunct and no longer fit and stages of rapid development and the opposing lines and factories consuming.
that the private sector has the expertise and technical skills required for the activation of these companies, but suffers from the weakness of valuable financial capacity that is thought not lost on account of and about the fact what is the solution?
Millionday: NOTE -- THEY COULD USE THE PEOPLE IN HELPING WITH GETTING ALL ADVANCEMENTS IN PLACE SO IRAQ CAN BE AS COMPETITIVE AS POSSIBLE
Millionday: NOTE -- THEY ARE SAYING :: WHO HAS THE MONEY FOR THAT AT THE BEGINNING?
Millionday: The privatization of these companies do not need to be for the account of international companies have the ability to run in order to achieve economic feasibility of survival, this thing is supposed to be conditional partner of the Iraqi private sector As in the experience of the Emirates, and do resolutions to encourage capital immigrant to perform this task.
Millionday: NOTE -- THEY DO NOT WANT PRIVATE COMPANIES TO GO BROKE JUST SETTING UP BEFORE REVENUES START TO MULTIPLY
Millionday: We clarify is very important that the membership of the committee formed that is supposed to feed the efficiencies of the private sector Iraqi acclaimed Banagaj as well as the involvement of two main organizations are the National Authority for Investment and Securities Commission in connection with the task placed in privatization,
and our hope great success of this first step on the road towards the entry into force of the government program starts right in the desired reform.
Millionday: SO THEY ARE HOPING WITH THE LAUNCH OF THE GOVERNMENT PROGRAMS WILL ANSWER THIS QUESTION AND DIRECT THEM BECAUSE THEY ARE LAUNCHING THE ECONOMIC REFORMS
AND THEY WANT IT TO BE SUCCESSFUL AND NOT DRAG DOWN THE STOCK MARKET OR REVENUES
Dovi: Considering Iraqs financial problems where are they going to get the money to buy back currency at a higher rate?
Millionday: THE COUNTRY YOU ARE IN WILL BE GIVING YOU THE FUNDS AND THEY WILL BE RECEIVING THE DINAR BACK -- THE AGREEMENTS IN PLACE ARE HUGE AND THERE IS NOT ENOUGH TIME TO GO THROUGH THEM ALL
flightnurse: what needs to come first the jobs or the money to create jobs they have their work cut out
Millionday: THE JOBS WILL BE GIVEN LIKE A STORM WITH SO MUCH TO DO AND ALL OF THE CONTRACTS AND INFRASTRUCTURE
Millionday: NOTE -- READ EVERY WORD -- WHOOOPOW
An invitation to form joint committees to monitor the performance
in order to establish a sound banking system contributes to the process of construction and investment, has become an urgent need to take the restructuring of the banking reality and controls him, especially the private sector.
economic expert on behalf of Jamil stressed in this aspect to reduce the process of slaughter banks after the fact of mistakes, leading to a negative impact on investment and foreign investor,
calling on the central bank to take into consideration what Tdmh these banks from shareholders and depositors, along with members of the Board of Directors or the shareholders, the largest share.
Millionday: added PUMICE in a statement the "morning ", that" the decisions of guardianship or control the private banks by the central bank may have hurt depositors, as it is paid Mbalghm in small quantities and long periods of time, which is suffering affect the reputation of the banks and in the confidence of these depositors,
customers and shareholders in the Iraqi market for securities ", urging the Meanwhile the Association of Banks to provide support in protecting the rights of the applicant and the citizen,
and to address the situation of these banks before the accumulation and having to put guardianship or control them, especially given that the conditions of the shares of those banks has deteriorated in the stock market.
Millionday: NOTE --THEY ARE ASKING FOR CBI TO BE VERY CAREFUL AND ALLOW A COMMITTEE IN PLACE TO MAKE SURE THE STOCK SHARES OF THE PRIVATE BANKS ARE NOT AFFECTED FOR THE PRIVATE BANKS AS THEY START OFF WITH REFORMS AND ALSO THAT THE PRIVATE BANKS CAN OFFER PRIVACY FOR ALL TO NOT GENERATE LOSS RIGHT OFF THE BAT
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