aggiedad77 » May 11th, 2015, 9:48 am
Monday News Summaries
With regard to today's news there appears to be a very large common denominator in much of it....liquidity....liquidity....liquidity....doesn't that have a nice ring to it.....money in the bank....money in the tills....money in the pocket....good news indeed.
Barzani: we will resume work on projects with the improvement in financial conditions
Congratulatory visit by PM Barzani to the Sulaymaniyah province on keeping forward movement going with bridge projects in spite of troubling financial times within the Kurdistan....he expects other stalled projects to restart soon as things are worked out on details of financial payments in the near term.
Jaafari: Abadi visit to Russia reflects the Iraqi national priority
Iraq's Foreign Minister spoke of PM Abadi's visit to Russia as a means to strengthen relations between the two countries.....Abadi will be visiting Moscow at the invitation of Putin....is this a warning to the west of some kind.....or is he just trying to cover all bases to see where his greatest support is likely to come from.....interesting chess move.
Baghdad didn’t adhere to oil agreement, says Barzani
Kurd President Barzani accuses Baghdad of holding out on their side of the budget agreement....withholding 1.4 trillion dinars from the Kurds for April budget payments after the Kurds delivered at least their portion of oil amounting to 550,000 barrels of oil per day.....he now talks in light of Baghdad seeing the Kurdistan as an oil consumer but says a new agreement must be put in place.
Trade: Snozaa 25 000 dinars Kmbalg compensating for ration
The Ministry of Commerce announced it would distribute 25,000 dinars per capita for ration materials that had not been delivered over the past year....this to be done in the next ten days....more and more it sounds like liquidity issues may be a thing of the past....these materials include things like flour, rice, sugar, oil, and baby's milk as well as sundry other items that can be covered if the money stretches that far.
Wednesday and Thursday, an official holiday in Baghdad
Again the reminder of the two day holiday coming up on Wednesday and Thursday of this week that we believe may get stretched into a week.....we shall see.
A source in the Finance: efforts to resolve the issue of the region's share for the month of April, in the next couple of days
The Ministry of Finance claims they are trying to resolve the financial share of the Kurds for April.....look either pay the amount that was agreed upon....or just come clean and say you will continue to withhold.....if you do that it makes you no better than Maliki and his thugs.....do you really want that....I didn't think so.....if you keep this charade up the Kurds are going to walk away from the table...going to walk away from Iraq....and I don't think this is something you want them to do.
Economic Dhi Qar calls for banks to support investment and the provision of liquidity
Dhi Qar province needs to look to their banks for support of projects through investment opportunities and the return of liquidity with the banks themselves...this is said by the Economic Commission....the local Dhi Qar government confirms a great number of projects worth 87 billion dinars that can be paid immediately to keep work going or to get work restarted....it is up to the banks though to get this process started and commence attracting investors.
Gang visiting the dollar in Baghdad and its transformation into dinars in Basra
The Directorate of Intelligence and counter-terrorism in Basra picked up five members of a gang on charges of counterfeiting and believes they held $150 thousand dollars of counterfeited currency...they believe the money was being printed in Baghdad and being brought to Basra for distribution.
Outfits international banks to open branches in Iraq amid criticism of domestic banks
With the large number of expected international level projects to commence in Iraq it is expected that banking interests must have some level of international expertise and as such there are more international oriented banks moving into Iraq to pick up this kind of business.....much like the foreign oil companies that come in to help them deal with oil exploration and production issues that the Iraqis may lack expertise with.....
This has brought Dr. Shabibi out for the first time in a while basically agreeing that these international banks have the needed expertise to take Iraq into the world arena on a much larger basis and more rapidly than local public or private banks can do who have been in Iraq for some time.....
These new players do not carry some of the baggage that many Iraqi banks have to contend with at the current time and are better situated to hit the ground running with their ability to supply financial needs for clients on an "immediate" basis.....some Iraqis claim these banks operate far from the local needs of the Iraqi citizens and are here only for the profit to be taken....
Well that is the case with any bank...they are in business to make money....in that process they do and can loan money locally and in that light there is the ability to touch the lives of the local citizenship.....make no mistake, no bank is in business just to loan money or store money for its clients....that just isn't how they operate.
Young people turning to grant holders of the pioneers of ironing Card to Rafidain Bank
The Ministry of Youth and Sports is leaning on the Rafidain Bank to supply cards for payment of salaries to athletes and others...these payments coming through the Ministry of Finance....yet more evidence of money being freed up it would seem.
Iraq is seeking to buy weapons from Russia worth $ 3 billion
Iraq is looking to the Russian Federation to supply helicopters and other sophisticated weaponry to the tune of $3 billion dollars....so says some high ranking officials of PM Abadi's upcoming visit to Russia.
Official: Iraqi forces recapture oil fields in Anbar, Salahaddin
Iraqi joint forces were able to retake a number of oil fields along the border between Anbar and Salahaddin recently....killing an unknown number of DAASH members in the process....no indication of the production capacity of those fields recaptured.
Coffee break time......first dibs on the bathroom....enjoy this great day Family.