aggiedad77 » March 15th, 2015, 2:48 pm
Sunday News Summaries and Commentaries
BIG BIG words from the IMF today that Iraq needs to listen to....look for it....Parliament is committing to meeting Monday-Thursday this week, consecutive days...wow.....they must have a huge plate that is overflowing....
Of course we know that...the laws that await their work are like the stars in the sky....plentiful....dig in and get busy....
Prioritize those things and get the important ones done up front and first....meanwhile the Oil boys are wanting new agreements with the foreign oil companies....something to benefit everyone....new black gold being served up on a platter....
But where is the check to be cut for the Kurds....no check no black gold....put it together boys and girls.....stop the bickering and lock arms as you try and march together....you've proven it can be done for security.....now do it for the economics as well.
KILLING OF AL-BAGHDADI IN MOSUL
How many times does this now make for an announcement about the death of al-Baghdadi.....is this guy really Morris the Cat with nine lives....sorry don't mean to be pessimistic about this report....but show me the proof.
Oil Parliamentary Committee meeting in connection with oil companies operating in Iraq to attract investment
The Oil and Energy Committee is meeting with the foreign oil companies to identify ways that Iraq can sweeten the contracts for those working in the country already and to be assured they are making the right moves to bring other companies into Iraq for purposes of strengthening the ongoing work for oil and gas production.....sounds like they are getting serious about pushing for some big-time growth in their oil and gas production capabilities.....be looking for another round or two of licensing bids in the coming future.
Financial Kurdistan: Turkish loan will arrive soon and will be allocated for the salaries of January
An interesting process in play between the Kurds and Turkey....a loan that will go towards January salary payments....but it will be half in IQD and half in USD....and some thought they couldn't use the USD....an old Maliki lie it seems....this is the $500 million dollar loan that President Barzani supposed secured with the Turkish government recently.
Oil Minister participate in meetings of the International Monetary Fund
The Oil Minister Mahdi sat in on the annual meeting with the IMF today, being prepared to discuss the oil situation within Iraq after the significant fall in oil prices around the world.....while the overall financial and monetary policy was being reviewed with Iraq government officials.
IMF calls for Iraq to work on increasing the Internal Revenue
According to the Finance Minister the IMF appeared to be satisfied with the budget process for 2015....but wants Iraq to put greater emphasis on their Internal Revenue Service process....with focus towards reductions in expenses and spending while working through the CBI to assure greater importance is placed on income taxes that are related to property taxes, general sales tax, and the taxation of companies, while honing tax performance and the customs system.....
The IMF also pointed to needed improvements and attention in the areas of energy and state-owned businesses as well as reforms to the social protection system...all areas the Iraqi government and Parliament are paying close attention to at this time....the IMF is urging Iraq to look towards internal taxes to help alleviate the 2015 budget deficit...
While this meeting was headed by the Finance Minister, also in attendance was the Oil Minister and the governor of the CBI as well as other government ministry heads that have an impact with the budget process.
Member of the Economic parliamentary: Country heading towards diversifying the sources of revenue
More positive talk from members of the Economic Committee within Parliament.....saying that Iraq is definitely looking at ways to diversify their sources of revenue....they seek investors to help in this direction on many industrial levels within the country and in many of the provinces where project work is awaiting the funds to get started again.
Saadi: speculations dollar and the low value of the stock market trading
The Chairman of the Securities Commission is stating today that the speculative market for the USD against the IQD has had a negative impact on the market....saying that market speculators took off at a gallop for fast money they thought could be made through the currency market and left the ISX high and dry....quite the differences in the market outlook from December to January.
Parliamentary Oil: The government will pay to the oil companies $ 21 billion in debt cumulative
Total amount due to oil companies for previous years work that was not accounted for is something at or near $21 billion dollars....the Oil Committee has plans to make this payment by first using $9 billion placed in the 2015 budget for this purpose and then adding $12 billion dollars from the sale of Treasury bonds by the CBI on the secondary market on behalf of the GOI.....more talk about these Treasury bonds...but thus far no action to be taken on them.....awaiting an international presence I believe in their currency system....something other than a program rate to make this kind of bond transaction possible.
Deputy for the National: Ministry of Planning "absent" from the economic crisis faced by Iraq
A member of the National Alliance points a finger at the Ministry of Planning stating that to be absent during any consideration given to the industrial, agricultural,and private sectors is not a good thing....the Planning group must be an integral part of what Iraq looks to for future plans...this group must play a vital role in putting programs together if they expect to take any load off of the oil and gas group going forward.....get your stuff together there Planning boys.
Energy parliamentary committee is discussing with the Ministry of Oil officials ways of financing the budget in 2015
Members of the Oil and Energy Committee met with the Oil Ministry to discuss what they can do in ways to help with the financing of the 2015 budget.....looking at oil contracts to make changes that will encourage oil companies to continue to work while at the same time brings financial security to Iraq even in times when oil prices slump.....the big talk was round contracts and how to make them more lucrative.
Zubaidi: studying global bids for the purchase of new aircraft
Iraq is on contract with Boeing since 2008 for a total of 40 aircraft to be delivered out to 2018...thus far they have taken possession of thirteen of those 40.....this deal will make Iraqi Airways one of the largest operating in the region...they are also in talks with Airbus for other potential aircraft.
Maliki Mkourk: activation of the Strategic Framework Agreement
Maliki met with the Assistant Sec of State and US Ambassador to Iraq to talk about....of all things...the Strategic Framework Agreement....and also boast about the successes that the Iraqi armed forces have had in the Salahuddin province in the past week....what a waste of time and air for these two.....rubbing elbows with someone who has no pull within Iraq at all at this time....just his attempt to sing a swan song.
Baghdad agreed to the request of the Kurdistan region, but has not implemented
Saying "I will" and then following it up with saying "I did" are two wholly different concepts....Baghdad says they have approved the budget payment to the Kurds....but no payment has been forthcoming at this time....maybe they await an interest payment on the amount before they let it out of their clutches....JUST DO IT.
Parliamentary economy confirms continue Balastdavat, guidance and cooperation and building bridges to stimulate economic activity in the country
Iraq recognizes that it needs to build bridges...but not the physical kind that you might be thinking of....the internal kind between one ministry and another that will go a long ways towards the provisions needing to stimulate the economy from a number of different directions for the country.....
The Economy and Investment Commission is wanting to start this process with sister ministries like planning, industry, and commerce....gaps must be filled in by bridging a variety of government groups that will enable projects to get off the ground by providing legislation, funding, manpower, as well as bringing in areas like banking and insurance to help assure success of projects going forward.....projects that would include the resurrection of Iraq's sulfur industry....largest in the world....as well as their phosphate and silicon industries.....time to think outside the box and get these sectors back on the map.
Senior Economist calls for the recycling of the surplus from the previous budget deficit for Saad
Senior economist is calling for the use of budget surplus from the previous year to be applied to the 2015 budget deficit....how can you identify a budget surplus for a year that saw no budget being approved....money that seemed to magically melt before your eyes and not in your hands....don't get me wrong....if the money can be found....by all means use it.
Parliament will reconvene tomorrow to vote on the bills the first reading of three other
Parliament will be reconvening tomorrow, Monday, to vote on a number of bills....but IMO....they need to bring some meat to the table....something worthy of the Iraqi citizens.....some prime rib....some filet mignon.....choice stuff that will show the country they really care about what needs to happen for the citizens.
Parliamentary Economy: Parliament sessions disappointing free of important laws pertaining to the people
What a perfect lead-in from the article just above....important laws that pertain to the people....the Committee on Economy and Investment gets the picture and understands what needs to happen....calling upon the COM, the Parliament in general, and specific committees to get off their duff and start moving some legislation that is meaningful to the people.
Shawki: Parliament sessions will be for four days in a row
Another good lead-in.....get the lead out....show us the beef....where's the money.....Parliament is agreeing to meeting on consecutive days this week, yep you heard it here....Monday through Thursday....makes me wonder what will they accomplish.....
Some might develop TB in the process you know "Tired Butt"....bring a cushion with you on Tuesday....get this work completed in advance of the Kurdish holidays that are coming up.....got to give this Parliament credit over their predecessors, they don't seem to be afraid of work...and they seldom call off a session due to lack of quorum.
Rumours IS Will Leave Mosul Without a Fight
Rumors....rumors....rumors....even ISIS gets caught up in them....will they actually leave Mosul without much of a fight.....after they have reportedly put in days and days of preparatory work around the city installing trenches and locating IED's to slow the progress of the Iraqi forces.....just walk away....where would they go....why to Syria of course....supposedly al-Baghdadi saw Mohammed in a dream....or did he meet Mohammed in the last day or so, in some unlikely place....but not likely in Heaven.
Keywords for "Tigris": the central bank seeks to increase support for the oil sector in the coming years
Tidbit from brother DELTA....Channel Tigris reporting that the CBI is seeking to provide more support for the oil sector in the coming years.....and while they talk in this direction they also mention the project concerning the 000's.... a project that will consume 2 years by the mechanisms that have recently been put into place....mechanisms that will not influence the market.
SIL flag downed in Mosul
A word of caution concerning this flag waving.....the removal of a flag, even from several buildings within Mosul does not a victory make....the terrorists appear to be looking for those who did this act and wants to make them pay.....they have not yet left the city...but let this be proof that Iraqi patriotism is on the grow in the area.....the ISIS thugs should begin to be very worried....especially if it is true they have lost their leader.
Iraq plans to create an investment climate in the energy
Get ready to see some additional action with regard to Iraqi energy.....besides that of oil and gas....phosphates, sulfur, glass sand and others known as arable muds should see a come back with regard to increasing revenues for Iraq....there is more in that ground than just oil....let's start to make it show and pay.
Parliamentary Economy: Iraq has begun to exceed the financial crisis and government reforms experts describe as "traditional"
According to one member of the Commission on Economy and Investment, Iraq is overcoming the financial crisis by improving investments and paying more attention to the private sector.....even small increases in oil prices mean good things for Iraq's economy.....meanwhile pushing with distinction on economic reforms that put focus upon private sector interests and promote investment opportunities is starting to have the desired affect on things for them....
PM Abadi continues to speak not towards concern and defeat but towards success of their efforts thus far and growing success in the months to come as a result of redoubled efforts to bring a greater footprint to industries outside of the oil and gas arena....for thinking outside the box.
Industry experts: Iraqi oil fields are the largest in the world .. and decades of partnership violation of the Constitution
This article though long, has the touch and feel of an equally lengthy article from a few days ago that I got on a soapbox about then...and may do so again.....Iraq has a sea of oil that floats their country....they have the biggest reserves in the world....they know not yet what all their true reserves of oil consist of....but renewed efforts will cause their numbers to grow and compete with Saudia Arabia and the rest of the world as the king of black gold....
But they need to recognize this should not be a political process it needs to be a process run as a private business.....run on competition...one business against another....
If they are to truly reap the profits from what lies beneath the sands....get the right people on the bus,
But MOST IMPORTANTLY....get the right bus driver to steer the bus.....a political hack doesn't have what it takes to get this job done....never will....run this like a big boy oil company if you want to get the most from it.
Going to grab a stopping point here....need to work on the post for tonight's thread as well....enjoy this bit of news, hope it provides a glimpse of positiveness in a sea of negative things that seem to keep setting things back.....remember...the BEST is yet to come.