Millionday Roundtable 5/21/14 Part 2
Welcome To Wednesday Roundtable With Millionday!
[nona24] millionday Is it possible that the extension could allow Iraq to both 1) make the choice to get their funds in hand and pay off those debts they choose, while at the same time 2) allowing these funds to be protected from specific creditors the US has negotiated with Iraq not to pay off yet (such as Iran?). In other words, having their/our cake and eating it too?
[millionday] here is a fair from last week
[millionday] nona24 good point -- they want control of the funds so they can have a platform to stand on because they have the funds themselves --- no need to make arrangements to pay if your funds are being held by someone else
[andrewjwhitted] Nona.... i could agree with that... iraq is still under our thumb...
[millionday] The governor of Erbil Nawzad Hadi, on Tuesday, the success of the Erbil International Fair eighth for construction and reconstruction and industrial machinery, natural stone, ceramic, which was held in the city of Arbil last week to attract companies and investment capital to work in Iraq. said Hadi for "tomorrow's Press,"
"The exhibition, which was attended by more than 450 companies specializing in the field of construction and reconstruction, including 23 Arab and international has been showcasing the latest products and models of global needs of the Iraqi market in the construction and reconstruction taking place in most of the provinces of Iraq." and added
[nona24] millionday TY - just trying to make sense of the apparent contradiction
[millionday] i agree with what you said -- kind of like making an agreement with funds you are going to have later -- no reason to even meet in some eyes and this is something they are trying to get rolling now not next year it appears smile
[millionday] that "more than 20 companies post so far expressed a desire to work in Iraq and engage in industrial investments and construction to contribute to the movement of reconstruction taking place in the cities of the country,
"noting that" the exhibition will stimulate trade and economic development in the country and the definition of companies with local products and the introduction of modern technology and high-tech industries to the Iraqi market.
[millionday] note -- this is a huge trade conference in kurdistan that took place
[millionday] " He Hadi that "this exhibition is an opportunity to meet with local companies with international companies to exchange experiences and training of cadres and improving their performance. opened by the Minister of Housing in the government of the Kurdistan region, in the 14th of May, the current, the show's eighth industries and construction on the land of exhibitions in Arbil, and among the "350 companies from 21 Arab and foreign countries participated in the exhibition ", called" local companies to benefit from the expertise of these companies. "
[millionday] this is fantastic !! huge huge -- all of these trade agreements and meetings go along with the development of the private sector we saw last night
[millionday] they are wanting to hook the private sector up with other countries that do the same thing or are of course more advanced in what they are in business to compete and share advancements from where they were and they need to be now
[millionday] this is huge make sense ? this is huge
[millionday] i want to show you this -- now notice what they are doing and with what
[millionday] Administration announced the province of Kirkuk, on Tuesday, its agreement with the Italian company to redesign a number of aspects of the province of Kirkuk, and with an eye to prepare three alternative designs for each hand at a cost of 1.6 billion dinars, confirmed that the age of the design basis for these areas for 25 years.
For his part, Ali Hammadi deputy governor of Kirkuk, according to Alsumaria News, that "the administration of the province agreed with the company (SGI) Italian to develop designs essential to aspects of Xuan 30 km north west of Kirkuk), and Kara Ahngel (35 km north-east of Kirkuk), and Aegi (15 km west of Kirkuk ), and Forum (25 km south west of Kirkuk), at a cost of one billion and 600 million dinars. "
[millionday] note -- this is engineering design but look at the dinar being used for payment as regulations have been set
[millionday] said Hammadi "was today detailed view of the work and in the presence of directors respects and the heads of the Council of the realms and with the participation of directors of departments of Urban Planning and municipalities."
He Hammadi "We decided during the presentation conducting surveys preliminary the aspects referred to the work on the preparation of designs alternatives and number three for each hand and will be concluded to choose the model best suited, which fits with the privacy aspects of the projects proposed for future development,
"noting that" the age of the basic design is 25 years old and these areas lacking in the past to design a key. " and the administration was conservative Kirkuk announced, in March 13, 2014,
[millionday] , for a contract with the two American and Jordanian to launch the project basic design for the city of Kirkuk, as described the project as "very important" to draw the foundations of fit and urban plans, engineering and strategic projects which intend to implement in the future,
confirmed that the U.S. company that the duration of the project work amounting to 720 days at a cost of more than four billion and 500 million dinars. "
[millionday] look at how long the contract is and also look at the pay -- is anyone here in country design to tell us what they would make lol
ggrr] If we see a continuing delay what is your opinion as to why
[millionday] i dont see a delay but if it delays it would be for stability
[millionday] CBI has stated we are in the phase and the announcements are stating that this coming phase -- smile
[letsroll] encouraging seeing the economic bus still on the move while at first look political mess is on at the same time but might not be the mess that is being put forth to the public ... man the twist and turns are something else Thanks for the breakdown millionday
[millionday] i agree -- the amount being paid for over two years of work is being paid in dinar and to an italian company
[millionday] letsroll yw all the time hun
[millionday] i have to say i am shocked by this contract -- i cant imagine that being enough at the rate it is at right now at all -- i will look in italian news and see what i find today
[millionday] with the huge international business fair -- not bad in how it looks i would say --- why would they be signing contracts now ? hmmm let me look at it again brb
[Dego] with all these contracts we've been hearing about lately, there must be some kind of a timeline, for implementation or starting date...
[millionday] here is what the washington post said about election -- Dealt with the newspaper "Washington Post" progress Maliki's bloc in the Iraqi elections, the last by a wide margin between the 2010 elections and the 2014 elections.
The Washington Post pointed out that "in 2010, was written after the government intervened on Iran to negotiate an agreement between al-Maliki and the Sadrists but it is likely to get involved regional and international powers, this time including Washington in the bargaining process."
[millionday] It noted that "Iraqi Prime Minister Nuri al-Maliki won more seats than achieved in 2010, good tally of the vote, while a glimpse of some parties to the lineup along with the aim to topple him,
but the size of the offering Maliki's bloc will be difficult for any coalition last to emerge as a viable alternative, on according to an expert at the Washington Institute for Near East Policy. "
According to the newspaper, "the scene is fragmented to the point that it takes al-Maliki for months to garner 163 votes needed to form a government as well as the treatment of hot-button issues, including one Iraqi president next". (AA)
millionday] so they are saying that it will be very hard for maliki -- interesting -- we had no clue smile
[millionday] did anyone do the math of how much that would be for the italian company?
[bblue] $3,868,961.49 is what they would be paid if we go by today's IQD value right?
[letsroll] not a lot of usd unless its a very small italian co. cheers
[ajay214] when I saw it, I thought just under 4 million dollars
[millionday] Administration announced the province of Kirkuk, on Tuesday, its agreement with the Italian company to redesign a number of aspects of the province of Kirkuk, and with an eye to prepare three alternative designs for each hand at a cost of 1.6 billion dinars,
[jtank] Almost 4 mil usd --alot if small -talking designs
[millionday] so a million a year around
[Dego] if it is correct, the aount of Dinars I mean, it would have to be at a new or higher rate for this kind of project...
[millionday] i would have to agree -- that would not be right for this project
[letsroll] Dego +1
[jtank] almost 2mil yrly
[millionday] maybe more will come out of what exactly they are doing - i will keep my eyes open for it -- very interesting they are being paid in dinars though that is for sure smile
[Dego] we have seen that before, I believe with a French Company as well not that long ago, where the Payment was in Dinar and not in $.....
[millionday] Iraq's Deputy Prime Minister, Will Meets with Chinese President, Russian President, Putin, and Iran' Leader, Rohani May 20-21-2014 -- should have some news on that from last week tonight --
ggrr] The more we see the word DINAR the better
[sczin11] Dego yes, last month a big EURO contract with a french company....
[millionday] ggrr i agree
[millionday] here is a political meeting today -- shaking hands and patting backs
[millionday] The Office of the President of the National Alliance, Ibrahim al-Jaafari, the Committee of Eight emanating from the political body of the alliance discussed its meeting today, the draft rules of procedure and stressed the need to develop them.
statement said Jaafari's office has received the Agency (news): The 'Committee eight-ups for the political body of the Iraqi National Alliance held its first meeting in the office of Ibrahim al-Jaafari, head of the Iraqi National Alliance to discuss the rules of procedure of the alliance ',
explaining that' in a positive atmosphere and a high sense of responsibility and the spirit of brotherhood, being careful to develop the work of the Iraqi National Alliance as a political institution and national
[Dianne777] i guess i dont get it, paying in dinars without a rate, nobody knowing what its worth lol hope they are not takig everyone for a spin.
[ajay214] Dianne777 agreed - not making any sense at all - how do you have a contract for something when you don't know what the value would be
[millionday] the statement added that 'the Committee has evaluated the past experience and stopped at stations, also discussed the draft rules of procedure and emphasized the need to develop by absorbing Notes, and visions of the parties that believe in the fundamentals of this alliance and are part of its structure', stressing that 'the Commission will continue its regular meetings to discuss the visions of the parties In order to be accommodated within the framework of the rules of procedure of the Iraqi National Alliance in the new phase, which everyone seeks to enjoy the ability to fulfill its obligations to the Iraqi people to achieve their aspirations and decent
[sczin11] ajay214 exactly...... you think maybe someone knows something?
[millionday] Dianne777 smile
[ajay214] sczin11 I don't think the agreements have anything to do with future value, rather the value in today rates.
[millionday] so according to this we are almost in the coming phase lol
[Dego] I'm sure that they know exactly what the value is, we are the only ones that are still in the dark.....:}
[sczin11] ajay214 possibly, but then the amount doesnt seem to correlate with what we know values should be...
[jtank] agreed ajay--company can be 5 designers -their not building it-
[millionday] the thing is that ALL data will change when the value changes all at once through data entry --- if the value of the dinar changes at anytime all values will change all at once
[wmawhite] Dianne777 ........inside Iraq..a dinar is a dinar...........there is no change until you exchange it for something else.
[ajay214] Dego if that many different people knew the coming vlaue - it would be all over the place
[millionday] wmawhite right --- the thing that changes is the denominations and the pricing index
[millionday] and hopefully soooooooon lol
[millionday] so we have been here too long i am getting silly now
[ajay214] But I don't see any of this indicating anything that will help us
[jtank] goofy lol
[millionday] i think we will meet back here tonight at 730 est and see what we have
[sczin11] ajay214 every ccompany has advisors/employees that deal in these types of scenarios, and yes there is speculation involved, but with alot of professional fact finding and understanding of what is going on
[jarhead] Cussin again md lol
[millionday] ooops lol
[larrykn] how can they agree on a value if they don't know the rate. seems like they might already know what it will be and are just getting ready for it
[ajay214] sczin11 likley so, but do you think they are making deals on the speculation the dinar will rise in value? That would be like placing a massive bet on a horse at the races when you were told it is sure to win
[jtank] the company would not do a project on future value of IQD
[jtank] hopium lol
[Dianne777] ajay214 oh fo sho
[millionday] right --- the contracts would be done but many are and not moving -- many
[ajay214] jtank I agree and I also don't think they would announce any such deal publically - nor would they entertain the prospect
[Dego] you could be right......with that but it seems to me that everybody who is trying to do Business there must be aware that this change is coming sooner or later.....
[sczin11] ajay214 that all depends on your own belief in economics, finances, resources, etc....
[jtank] rt on md
ajay214] sczin11 - I think it deals more with common business sense - why waste the time on speculation unless businesses have been told something and if that were the case - everyone would know
[sczin11] jtank many businesses make commitments on their belief what will happen in future, and referrals they may get from going out of their way in terms of credit, etc..- everybody who is successful in the business world has to pay a certain amount of dues, to get there
[Dianne777] does anybody know how to catch a rabbit, make sounds like a carrot lol
[millionday] called investment conference in the Iraqi market for securities held in Dubai, financial institutions and international banking to cooperate with the Iraqi banks to start services custodian in the Iraqi market for securities.
said in a statement to the Iraqi market for securities received by the Agency (news): The investment conference, which was held in Dubai recommended continuously held annual conferences, and invite the second session of the Conference of the investment in the Iraqi market for securities in 2015 in Baghdad. statement added:
[ggrr] Value low they buy...land businesses development etc etc
[sczin11] ggrr exactly..
[millionday] note -- this is a conference to start services in international banking in the isx
[MGM] Ever heard of insider trading?
[sczin11] millionday sorrry- thought you were silly.. i mean finished
[ggrr] There REALLY is no more countries like DUBAI to tap into IRAQ is close to that and that's why investors are jumping in
millionday] 'It also recommended the amendment and change any instructions that would hinder the movement of the stock market, so as to ensure the rights of investors and facilitates the inclusion of new companies in it, and seek with the competent authorities in the next government, to speed up the approval of the Securities Exchange Act new '.
noted that investment conference included the Iraqi market for securities and Economy and Business Group with the participation of about 200 officials and experts and investor
[ggrr] Deserts become cities and cities are profit
[millionday] speed up the securities act is good news and i am happy to see that -
[sczin11] millionday but not necessarily a requirement for the reality rate..