Millionday News 7/23/13
[millionday] that is the best news yet and its no joke
[lorijeanmarshall] millionday Lay it on us baby!
[millionday] lets see where we are hmmmmm not going to be sitting here much longer now tonight is a very serious news night ALL about all these years we have been in here so know one thing -----
[millionday] just know this big huge smile so i am going to load you up with some news and trust in this i am going to load you up with some news smile whooop whoop - so i would guess that everyone has seen the stock market news but there is more to show you
[lorijeanmarshall] millionday About Moon ringing the closing bell today?
[millionday] whooop whoooo no about the bell tomorrow smile brb
Read More Link On Right
[lorijeanmarshall] millionday Oh. LOL Sorry. That's all I know
[millionday] ok so this is what i have to say - i am verifying news that is out that iraq is ringing or joining the ny stock exchange tomorrow and cant say yes or no yet
[millionday] i have to do much more looking but i will do it after we look at the news then we will sit around and wait for me to find out
[Sager] millionday I believe I can get you an article on that if you give me 1 minute
[lorijeanmarshall] millionday Are you waiting for ink on it?
[millionday] so we will do news and then i will bring the very good contact i have about this and give you the info on if it is happening or if it is just bad news or i should say wrong news
[belabun] I Listened to UN sec today, at 5:20 on counter said will ring closing bell, but who the heck knows, but on todays webtv
[millionday] so let me get done with what i have for news for tomorrow from iraq and then i will address the issue
[belabun] millionday good! minor stuff
[millionday] smile we want to be right
[Sager] millionday I have found the article on nyse
[millionday] and not give you news that is carp to be honest so i will make sure after this
[Godsalli/Jim] Hate carp
[millionday] i have read the article as well hun --- just want to make sure - you know how the media can make us look silly
The s family] I can see why joining the stock exchange is a big deal. But why is ringing the bell?
[Sager] millionday ??? do you want me to bring the article?
[millionday] The s family it is a historical honor
[Sager] millionday millionday it's from the nyse website itself
[The s family] Ok,
[millionday] Sager sounds good hun
[Sager] Media Alerts United Nations Secretary-General Ban Ki-moon Visits the NYSE and Rings The Closing Bell® to Commemorate NYSE Euronext’s Participation in the United Nations Sustainable Stock Exchanges (SSE) Initiative For Release: 23 Jul 13 Who/What: United Nations Secretary-General Ban Ki-moon will visit the New York Stock Exchange (NYSE) to commemorate NYSE Euronext joining the United Nations Sustainable Stock Exchanges (SSE) initiative,
which explores how exchanges can work together with investors, regulators, and companies to enhance corporate transparency on environmental, social and corporate governance (ESG) issues and encourage responsible long-term approaches to investment.
To mark the occasion, NYSE Euronext will host a high-level event, gathering senior executives from NYSE-Listed companies and sustainability professionals with leaders from the United Nations, academia and non-profit organizations at the NYSE. UN Secretary-General Ban Ki-moon will deliver special remarks on the evolving role of stock exchanges in promoting sustainable capital markets.
[millionday] is there more ?
[Sager] yeah trying to get it in...
[Sager] New York State Comptroller Thomas P. DiNapoli, who has shown enormous leadership on these issues, will also give remarks. Following the forum, both guests will join NYSE Euronext CEO Duncan L. Niederauer in ringing the NYSE closing bell.
[Fresh] props to lorijeanmarshall for being on top of that apparently
[Sager] This celebration further demonstrates NYSE Euronext’s commitment to sustainability. In 2012, NYSE Euronext achieved carbon-neutral status for the third year in a row, again making it the only global exchange operator to do so. In the same year, the company was also named to CDP’s S&P 500 Carbon Performance Leadership Index and received a Green Power Leadership Award from the Environmental Protection Agency (EPA).
For a number of years, the company has also been included in several key sustainability indices, including CDP's S&P 500 Disclosure Leadership Index, the Dow Jones Sustainability Index and FTSE4Good, and is a member of the EPA’s Green Power Partnership.
[Sager] When/Where: Wednesday, July 24, 2013 2:15 p.m. Arrival of press
[Sager] NYSE Security Checkpoint/Tent at corner of Exchange Place and Broad Street
[millionday] thank you hun
[Sager] 2:30 p.m. Reception and ceremonial signing of the SSE, featuring remarks by UN Secretary-
[millionday] great article
[Sager] 4:00 p.m. The Closing Bell rings
[millionday] see this is the thing
[Sager] http://www.nyse.com/abou ··· 058.html
[millionday] and let me have the floor thank you hun -- smile
[millionday] there is a blog out that says that iraq is ringing the bell at the new york stock exchange
[millionday] it is not true obviously so lets know one thing though
[lorijeanmarshall] As soon as that was brought into chat, I went to the NYSE website and verified that it was not true. It is just about UNSC and Ki Moon
[millionday] the subject matter is not a bust rock star -- lori -- koodos to you hun so let me say this
[lorijeanmarshall] millionday nawwwwwww, just due diligence. And that fact that I can't let anything go.
[millionday] emerging markets are a very important issue and also the companies that are involved are very important as well
[millionday] as we know there is a lot going on with iraq as well right now so lets check that out and try to hold our hats on i almost had a coronary smile cant even spell it lol so anyway
[millionday] The researcher Suhad economic virgins that the dispersion of the Iraqi private sector institutions and distancing itself from some of which led to the erosion of the real role that could be played by the sector in the current phase, which represent the true Transitional market economy.
He confirmed in a statement (morning): The absence of formal representation for this sector in the forums and international economic forums miss the opportunity on Iraq to bring in foreign investment.
millionday] This comes at a time in which it invited a number of economists, specialists and academics to find common ground pool private sector representative as a board or body to take its role and real actor in the development process, and drew virgins to the issue of representing the Iraqi private sector in international fora and that there is a lack clear views Official represent it, which may miss the opportunity to define the true reality of the investors to invest in the country.
She pointed to the need to supervise agencies and economic commissions government to establish an official body representing the private sector instead of having bodies or unions represent some of the joints of the private sector union businessmen and the Union of Industrialists and chambers of commerce and others. Confirmed virgins importance of expediting the establishment of hand represent the Iraqi private sector because
[millionday] wow that virgin really throws us off a little
[millionday] There are calls from the points of international economic local private sector, but met the individual and do not represent all of the private sector, pointing to the need to unify the visions in this area, calling at the same time government agencies to speed up the establishment or the establishment of an official and recognized to represent the Iraqi private sector in the forums and global economic fora.
And the importance of the presence of the leading private sector sees economic academic d. Majid Baidhani that there is a clear fragmented private-sector organizations.
He told the (morning) that it is necessary to have a representative of the real sector where we note the presence of National Business Council of Iraq, and Exporters Association and other organizations that must unite and intensify their efforts in the service of the economy and actual direct in the process of economic development of the country.
[millionday] so of course we see they are wanting a national business council in iraq and are saying that they entering the international arena
[millionday] Baidhani said the survival of these unions and blocs without unite cause the dispersion of the private sector and not being able to consolidation clear on legislative issues and to reconsider the intersecting and overlapping laws.
His new adviser in the Iraqi Institute for Economic Reform, Dr. Ahmed al-Husseini his call for the establishment of the Division in the Ministry of Finance be competent partnership between the public and private sectors and enactment of a law to regulate the practices of their partnership.
Husseini said in a statement (morning): that the main problem facing the process of paying growth and economic development is the dichotomy is clear between the public and private sectors.
[millionday] lol good grief have to love translations
[belabun] babysit = watch ok, shh
[millionday] noting that there is an urgent need to enable the private sector today after monitoring weaknesses President, said al-Husseini that there is a limited role for the private sector and the incentives for the advancement of this sector is almost non-existent, as The decline in rates of electricity and water supply for drinking and the continued backwardness of transportation networks and the sharp decline in industrial and agricultural capacity formed the most prominent obstacles to the growth and development of the private sector and provide an attractive environment for investment.
[millionday] so what we have is them trying to bring together all the departments - that is for the national context and also for the local - as we have here so brb with more
[millionday] here we go - In an interview, the "morning" with the head of the IMF mission to Iraq Carlo Sidr Allweg on highlights of the report in regards to Iraq,
he said: The work was done primarily through the programs of the International Monetary Fund (IMF) official, which also included financial and technical assistance.
It has provided those programs framework to help the Iraqi government and the Iraqi Central Bank on the application of sound policies, especially public finances of the state, and to contain inflation, and maintain a fixed price for the Iraqi dinar exchange (strong and stable) and the restructuring of external debt Iraqi successfully. [millionday] smile
[millionday] The report of the fourth article is a way for regular periodic oversight exercised by the International Monetary Fund (IMF) on each of its members. These controls are a relatively new type of relationship between the IMF and Iraq; because we - the IMF - we were and still working with Iraq since 2004.
[cookie2] strong and stable -- I like
[millionday] He said Allweg: The report issued by the major recommendations emphasize the importance to take policy-makers Iraqis stand initiatives further towards addressing many of the challenges facing Iraq, in order to realize the potential of Iraq's enormous economic entirety, and dissemination of the benefits of economic growth to the general population.
Adding that the report contains mentioned on five policy recommendations, will lay, from the standpoint of the International Monetary Fund (IMF), the foundations for achieving higher economic growth and lower rates of poverty over the next few years. He stressed that the recommendations are:
[millionday] First, the government should focus on developing sustainable budgets can finance public spending of the proceeds of oil revenues.
But because government spending is the main channel of the shocks coming from the international oil market, the construction of public financial reserves, which can fortify the spending of declines in oil exports or in the price of oil, is crucial as well.
The government actually owns these reserves in the Development Fund for Iraq (a type of bank accounts that spared to meet the need in the future), but the government should also increase the value of those reserves.
[millionday] yes they should -- note -- this is the report i promised you
[millionday] And that is also important to contain the growth in public spending to avoid large gaps in the budget in the future, in addition to reducing waste in spending as well.
We appreciate the special role played by the public sector in Iraq, but we still see room for continuing to play this role, for example, by reducing the growth of employment / employment in the public sector, and reduce subsidies to the electric power sector, and reform of the public distribution system, owned and state-owned companies to the state.
In addition to the construction of public financial reserves, Iraq can use the savings to upgrade the quality of qualitative social spending and public investment in infrastructure.
millionday] The second recommendation, it had to be on the central bank to accelerate the pace of liberalization of the foreign exchange market, knowing that he had already started so recently. He served the exchange rate stable Iraq is well over the past few years, thus providing a nominal pillar of the economy, and helping to maintain a low level of inflation in an environment beset by doubts.
But the Iraqi Central Bank had introduced a number of restrictive regulations intense in the last two years in response to concerns that Sawrth on money laundering and foreign exchange flows of illegal out of Iraq. In our view, these regulations quoted a great deal of legitimate demand for foreign currencies to the parallel market, and as a result, has risen a price difference between the official and parallel exchange, reaching 8 percent in the month of April.
[millionday] Explaining that the third recommendation drawn to the importance of continuing to exercise prudent management of Iraq's foreign currency reserves held by the Central Bank of Iraq and the Development Fund for Iraq.
The IMF supports strongly the independence of the Central Bank of Iraq, and the need for the Bank to manage international reserves without political interference in order to support the value of the Iraqi dinar. We also believe that it is also important to maintain the current separation between the process of international reserves which are managed automatically from the central bank alone, and between the public financial reserves, which are controlled by the government, and in the Development Fund for Iraq. And must continue to wisely invest these reserves in liquid assets to a large extent.
[millionday] He noted that the International Monetary Fund (IMF) urged Iraq to make progress in financial sector reform.
He said that we appreciate what Iraq's progress in improving process control and restructuring of banks Rasheed and Rafidain bank. But the financial system in Iraq is still too late to grow more dangerous, in the presence of levels of deposit, credit, much lower than the averages of the deposit and credit in the Middle East and North Africa.
The final recommendation came out a little bit about our basic framework, but is gaining critical to economic growth in Iraq. We see a critical need for structural reforms to promote private sector growth and job creation.
[millionday] The latest program from among those programs was "a standby credit agreement", which was adopted to approve in the year 2010, and expired in February 2013.
Therefore, we are moving at the present time to establish a relationship independent of free and equal between Iraq and the International Monetary Fund, but we still hope that you can this relationship to help Iraq, and we stand ready, of course, to return to a level of cooperation together more intense, if they want government Iraq;
Our ultimate goal is to support the Iraqi people, and will provide this support in the best way we can use. And evaluation of the Fund for the latest performance record of the Iraqi economy, and what are the prospects for this economy?
[millionday] Said Allweg was still recent developments for the growth of the entire positive macroeconomic widely, and the credit for this is due, in a great degree of it, to the high volume of oil exports. It surpassed the economic growth rate of 8 percent in 2012, and is likely to rise to 9 percent in 2013 when oil production rises to the level of 3.3 million barrels per day.
As well as the inflation rate fell from 6 percent at year-end 2011 to 3.6 percent at the end of last year, and should rise only a slight rise to about 5 percent in 2013.
Also, the external situation of Iraq is also strong. Stressing that the international reserves of the Central Bank of Iraq has risen from $ 61 billion at year-end 2011 to $ 70 billion at year-end 2012.
The fiscal reserves to the Development Fund for Iraq has risen is the other (16.5) billion U.S. dollars to 18 billion U.S. dollars.
[millionday] this is the recommendations of the imf for iraq and its coming into what they have been working on since 2004
[millionday] they are wanting them to do many things but most of all separate the gov money and the country funds -- also to move forward with all plans for the stable dinar
[millionday] the report we read last year about the growth rate being 9% they have retracted and stated that the growth will be much more
[millionday] they want the programs that they have in place to be implemented and the country to move forward with the work they have done and the stability for the economy
[millionday] they now have control over their funding and they back them as they do the countries of the world and have now finished their work in putting in place the programs economically that they were helping them with in other words
[millionday] the credit program is expired and they are expected to move forward with their release [millionday] brb with more
PART 2 CONTINUED