Millionday news 3/11/15 Part 1
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Millionday: Kicks off in Egypt for the period from 13 to the current March 15, Sheikh economic Sharm conference where he is expected that during which displays 36 economic projects, more than half of government projects.
The Egyptian government has stressed the need for the proposed projects to be updated fully in order to facilitate the investors to identify the investment opportunities in Egypt and knowledge of all the details,
bearing in mind that the growth rates of investment in Egypt will have positive results directly to combat the phenomenon of unemployment, youth employment and job opportunities for them.
Millionday: NOTE - REMEMBER THAT EGYPT HAD MANY PROJECTS AND JOBS IN IRAQ WHEN SANCTIONS WERE PLACED –
THIS IS GREAT PROGRESS TO SEE THE ECONOMIC CONFERENCE AND THE OPPORTUNITIES WITH DETAILS BEING BROUGHT BACK
Millionday: NOTE -- THE PROGRESS IS IN THE LEGISLATION AND ALSO IN THE ECONOMIC AND SOCIAL REFORMS FOR 204 - 2019 (5 YEAR PLAN) ---
THEY ARE ALSO TALKING ABNOUT IMPLEMENTING THE PROCEDURES AND TAKING CARE OF THE PROBLEMS INVESTORS ARE FACING
Millionday: The minister explained that the conference will also sectoral sessions which displays some of the plans available investment opportunities ministries, with the presentation of some of the projects in a number of vital sectors.
The number of projects that have been prepared 22 government projects and 7 projects from the private sector and 7 partnerships between the public and private sectors.
As Minister of Planning, said that the conference will include a plenary session to present the project plan will also include four workshops is displayed sectoral projects will be implemented in the Suez Canal area.
Millionday: NOTE -- THE HISTORICAL SUEZ CANAL -- MANY PROJECTS -- LOVE IT
Millionday: He said presidential spokesman importance of exit Sharm el-Sheikh conference effective and concrete positive results on the ground, leading to stimulate investment sector as a vital area for the Egyptian economy.
It is noteworthy that the Egyptian government is planning to have the support and development of the Egyptian economy conference date to change the image of investors about the business climate in the country.
Millionday: SO AS WE SEE -- MOVING FORWARD IS WHAT THIS IS ALL ABOUT -- LOVE IT
coolspot: so God seems to be now using Egypt to pressure Iraq to move quickly love it
Millionday: THANK YOU
The Shoe: why us this relivant news to the iqd?s
Millionday: BECAUSE PROJECTS ARE BEGINNING WITH OTHER COUNTRIES WHICH REQUIRE REVENUES AND PAYMENTS AND AGREEMENTS BEING UPHELD
Millionday: Advisor to the Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, said that the banking system in Iraq needs to be adjusted and new legislation to him.
Said Saleh told all of Iraq [where], that "the failure of the banking system, problems and suspicions of corruption and needs to be revised in the legislation.
He pointed out that "Islamic banking is still without law.
Millionday: NOTE -- SALEH IS STILL WANTING CHANGES IN THE BANKING LAWS
Millionday: He also called for government banks to unify the law depends on the banking governance properly, adding that "the government is taking this issue into account, in addition to have a package of legislation to amend the banking system."
The central bank has begun to apply the new system of remittances and sell the currency.
Millionday: NOTE -- IT APPEARS THAT ALL LAWS HAVE NOT BEEN WORKED TOGETHER -- THEY HAVE TO BE USED IN ALL BANKS THE SAME PER THEIR ROLE IN THE BANKING REFORM
Millionday: According to a source familiar with the bank's [where] that "the coverage needed banking offices, banks and civil government of currencies will be through money orders only,"
adding that "this decision is not contrary to what was stated by the budget bill for 2015 identifying the auction amounts to $ 75 million ".
The source indicated that "the move is part of the Bank's policy to maintain the stability of the Iraqi dinar exchange rate against the dollar has been preceded by a step to reduce the volume of sales in the auction."
Millionday: NOTE -- THIS IS ALL TO APPLY THE MONETARY POLICY TO MAINTAIN THE EXCHANGE RATE OF THE DINAR AS PLANNED AND BY WHAT WAS STATED IN THE BUDGET
Millionday: The Act provided that "the central bank is committed to identifying sales of hard currency [dollar] in the daily auction ceiling does not exceed $ 75 million a day with the exercise of justice in the sales process,
and calls for the participant bank in the auction provide goods enter documents and statements of tax settling accounts and input Alkmarki within 30 days of the date of purchase of the amount
and otherwise apply to the bank penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the Atar.
Millionday: SO HE IS STATING THAT ALL THE LAWS AND REGULATIONS THAT WERE PUT IN PLACE MUST BE FOLLOWED AND PART OF THAT IS THE TAXES WITHIN 30 DAYS OF DATE OF PURCHASE AS WE CAN SEE -- PENALTIES WILL BE APPLIED IF RULES ARE NOT FOLLOWED
Papatom: NOTE -- IT APPEARS THAT ALL LAWS HAVE NOT BEEN WORKED TOGETHER -- THEY HAVE TO BE USED IN ALL BANKS THE SAME PER THEIR ROLE IN THE BANKING REFORM so MD... do you think that the banking laws will work ok in a revaluation if they don't agree????
Millionday: LAW IS NOT ABOUT AGREEING -- THEY HAVE STIPULATED REGULATIONS THEY HAVE TO FOLLOW --- OR PENALTIES WILL BE APPLIED
Road_Kill: I can understand applying policy to manage the exchange rate as it is suppose to change. ‘
So does this MAINTAIN THE EXCHANGE RATE OF THE DINAR AS PLANNED AND BY WHAT WAS STATED IN THE BUDGET mean that they are going to "MAINTAIN" the rate?
To me that means keep it from fluctuating and at the rate it is now? And if all laws have not been passed does it also mean nothing happen until they are passed?
Millionday: THAT MEANS TO MINIMIZE INFLATION AND CONTROL THE VALUE OF THE ECONOMY OF IRAQ FOR DEVELOPMENT
jtank: Dont u think that the tarriffs and taxes will break them financially being there is no monetary reform soon?
Millionday: NO BECAUSE THEY ARE GOING TO HAVE FREE ZONES AS WELL AND ALSO DOMESTIC PRODUCTS WILL BE AVAILABLE ACCORDING TO REPORTS AT A LOWER PRICE DUE TO NO TAXES BEING APPLIED
Millionday: Dean of Tourism School of the University of Karbala Dr. Akram Yasseri tourism today fixed industry longer and make up about 8 percent of total world exports. Yasiri said "morning":
It's time for the industry Iraqi tourism they represent economically vital sector Whatever has social dimensions
The religious and cultural and various local and regional levels and Atah.oocef Yasiri tourism as the third millennium industry being without chimneys which oil Permanent countries, indicating it's time to do the industry a tourist Iraq because the available composition factors in the country to its inclusion of a tourist, religious and historical landmarks.
He stressed that the college seeks to be one of the success of the industry by providing the tourism enterprises and scientific factors energies by saying, "We left curricula that are not going according to the World Tourism data.
Millionday: SO THEY ARE BRINGING BACK THE TOURISM INDUSTRY AS WE KNEW -- BUT THIS IS HOW THEY ARE WORKING ON IT AND WILL BE USING THE SCHOOLS TO HELP
Millionday: NOTE -- NOTICE THAT IRAQ AND THE KURDS ARE AND I REPEAT ARE -- AGREEING ON THE OIL AND GAS
Millionday: Iraqi Kurdistan said Monday it is on course to keep its side of an oil export deal reached with Baghdad in December, as loadings from the region reached the highest since it was struck.
By the end of February, the Kurdistan Regional Government (KRG) had supplied almost 97 percent of the crude oil it agreed to hand over to Iraq's State Oil Marketing Organization (SOMO) during that period, according to a statement from the Kurdish Ministry of Natural Resources.
Millionday: NOTE -- WE SEE AGAIN THAT THEY HAVE SUPPLIED ALMOST 97% OF THE OIL AGREED ON
Millionday: Loading data from the Turkish port of Ceyhan on Monday showed exports from northern Iraq are set to reach 400,000 barrels per day (bpd) for the first time since the agreement was struck, from an average of 350,000 bpd over the past week and some 275,000-300,000 in February and January.
"The KRG (Kurdistan Regional Government) in turn expects the federal government to honor its obligations under the budget law and to provide the KRG with its legal monthly entitlement to its share of the budget, including the agreed special allocation of funds for the peshmerga forces,"
the statement read. The peshmerga are the Kurdish regional armed forces. Baghdad cut budget payments to the Kurds in January 2014 as punishment for their attempts to export oil independently, plunging the autonomous region into economic crisis and forcing it to seek loans at home and abroad.
Millionday: NOTE -- BAGHDAD HAS ANNOUNCED THAT THEY ARE GOING TO ALSO KEEP THEIR SIDE OF THE AGREEMENT UNLIKE IN 2014 AND PAY THE KURDS THEIR FUNDS FOR FORCES
Millionday: NOTE -- THIS SHOWS WHAT THE PROBLEM WAS AND HOW THEY PLAN TO CHANGE IT -- AS WE HAVE SEEN IN REPORTS THAT THERE ARE PROBLEMS AND THE KURDS ARE IN AGREEMENT --(WHICH HAS BEEN CONFUSING)
Millionday: Under the December deal, the Kurds committed to export an average of 550,000 barrels per day (bpd) from Ceyhan via SOMO in 2015, in return for the reinstatement of budget payments.
The agreement was hailed as a breakthrough that would help Iraq increase oil exports at a time when revenues are strained by low global prices and the cost of financing a war against Islamic State insurgents in the north and west.
But the deal has already showed signs of strain. So far this year, Baghdad has paid only a fraction of the Kurds' budget share, arguing that the oil shipped did not nearly match the expected volumes, and it had been forced to reduce expenditure across the board.
The Kurds in turn blamed outages in neighboring Turkey and technical issues at the Kirkuk oilfields for a shortfall in January, but said this would be made up.
Millionday: SO AS WE SEE -- THE KURDS ARE GOING TO MAKE UP WITH THE LACK OF AMOUNTS THAT WERE TO BE SHIPPED AND WILL TAKE CARE OF THE PROBLEM THAT CAME FROM TURKEY ACCORDING TO THEM
mrref1216: I AGREE, ITS TOTALLY CONFUSING, IT SEEMS THAT THEY ARE AGREEING TO AGREE AGAIN..
Millionday: ON THE AGREEMENT?
Millionday: THEY SAY THAT THEY ALWAYS DID AND THAT THEY DID SEND WHAT THEY SHOULD -- AND IT WAS THROUGH TURKEY THAT THE PROBLEM WAS --- BUT IT IS MONITORED
faith1: does the 30 days start from the limit change in auctions to 75m , or from time budget accepted? and who was stating penelties sould be applied ? did I read a bank source ? it is a good thing that they are calling for calculated rates to be applied,,,, isn't that what they are calling for ?
Millionday: THE REGULATION IS THAT THEY HAVE 30 DAYS TO REPORT TARRIFF/TAXES AS IN TO GOV -- REPORT THEM
Millionday: YES CALCULATED AMOUNTS CALLED FOR THOUGH -- %%
faith1: to report them ... oh sorry thought it said penelties should be applied.. yes calculated ! apply them !
Millionday: FROM WHEN THEY ARE PAYED TO THEM
coolspot: what currency is Turkey paying for the oil?
Millionday: OIL IS PAID FOR WITH US DOLLAR
Millionday: ACCOUNTING RULES ON A NATIONAL LEVEL
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