Millionday News Time 5/10/14 Part 2
Welcome To Saturrday Night News Time With Millionday!
[millionday] here we go -- this is what we will expect day one
[millionday] 09:30-10:15 Opening Session: Mr. Faysal Abou Zaki, Deputy CEO, Al-Iktissad Wal-Aamal Group Mr. Ali Jalil Obaid, Chairman, Board of Governors, Iraq Stock Exchange Dr. Abdul Razak Al-Saadi, Chairman, Iraqi Securities Commission 10:15-11:30 Session I: Prospects of the Iraq Economy Development policies and growth indicators Infrastructure projects and development strategies Developing the oil and gas sector: plans and projects Investment prospects in various economic sectors
[millionday] note --- it would seem important for Iraq to have their budget done to discuss all of these projects -- just an opinion
[sczin11] millionday just trying to put all that you brought in, together, and wondering if it was a press release, invitation, or what.. sounded like at some points it was referring to an invite..
[millionday] sczin11 oh i missed what you were saying sweety sorry --
[wyntrammell] millionday i would like to commend you , i could not put up with all the doubt and aggravation that you so graciously do just to say thanks for staying on for those of us that really need you because we know little to nothing
[ROBINREDHED] wyntrammell ty
[millionday] thank you hun here we go
[millionday] Chairman: H.E. Dr. Mehdi Hafedh, Former Minister of Planning and Development Cooperation, Iraq Speakers: H.E. Dr. Mehdi Hafedh, Former Minister of Planning and Development Cooperation, Iraq H.E. Eng. Mohammed Sahib Alderajy , Minister of Construction & Housing, Iraq H.E. Eng. Thamir Abbas Ghadhban, Former Iraq Oil Minister & Chairman of the Prime Minister's Advisory Commission, Iraq Mr. Salar Muhammad Amin, Vice Chairman, National Investment Commission, Iraq 11:30-12:00 Coffee Break 12:00-12:10 Keynote Address: Mr. John Pearce, Director of European Operations, IMCI Group 12:10-12:25 Keynote Address: Mr. Abdullah Ahmed Abdulraheem, Chairman, Erbil Stock Exchange
[millionday] note -- i notice the chairman of the Erbil Stock Exchange (ESE) --- they have announced its opening today -- smile
[millionday] 12:25-13:30 Session II: The Securities Commission: Regulatory and Supervisory Framework Laws and regulations governing the capital market activities The commission role in supervising, controlling, disclosing and regulating Partnering and cooperating with Arab and International regulatory bodies Chairman: Dr. Abdul Razak Al-Saadi, Chairman, Iraqi Securities Commission Speakers: Mr. Jalil Tarif, Secretary General, Arab Union for Securities Commissions Mr. Azzam B. Bakir, Member, Iraq Securities Commission Mr. Abbas Fadhel Hasan, Head of Inspection & Control Department, Iraqi Securities Commission
[millionday] note -- the international compliance and the subject and regulations being released in this forum to partner with the international and Arab stock markets -- is very interesting !! -- smile
[millionday] partnering is what we want
[jackflash101st] This deserves a huge woopow!!
[Redmon] My turn to say, "Thank You for all your hard work for us!"
[wyntrammell] millionday millionday amen
[jtank] They surely would not be doing this unless they were planning on currency reform-
[awesomedtl] I feel bad kids anxious to ask ..... Is budget still on for morrow and election for Monday announcement? I just got in missed bunch of stuff!!
[millionday] here is the last part of this and look at what they will be hearing from -- smile
[millionday] 13:30-14:30 Session III: Enhancing the Level of Cooperation among Arab and International Stock Exchanges Linking clearing, settlement and custody systems Enhancing the level of partnership and integration Prospects and outlook of mutual listing and trading Chairman: Mr. Jalil Tarif, Secretary General, Arab Union for Securities Commissions Speakers: Dr. Fadi Khalaf, Secretary General, Arab Federation of Exchanges Mr. Christopher Fix, CEO, Dubai Mercantile Exchange, UAE Mr. Baljit Vohra, Senior Vice President, Louis Berger Group Mr. Tarek M Elrefai, Head of Global Client Management, Middle East Africa, Senior Executive Officer, BNY Mello
[millionday] note -- partnership and integration and enhancing the level is very exciting -- very ---integration means entering into the ---- in this case --- the market
[millionday] so the speakers of this little get together are very exciting at this point in where Iraq is according to all the reports we have read
[jtank] double whoopow
[millionday] i agree -- whooopow
[awesomedtl] I feel bad kids anxious to ask ..... Is budget still on for morrow and election for Monday announcement?
[millionday] the budget is still on by what i have but am going to check again in just a sec and am not sure on the announcement of the election
[millionday] k brb with more smile
millionday: here we go
millionday: The Commission on the economy and investment representative, the importance of opening branches of international banks developed in Iraq to create an atmosphere competitive among local and foreign banks to provide better banking services.
Said the Commission's decision Kurdistan Alliance MP Khalil Mahma that the Iraqi banking sector still lags behind the evolution in global banks, so
millionday: the bringing global banks discreet to open branches in Iraq will Paramount broadcast banking culture and identify the most important modern technologies involved in the banking business,
which will stimulate the local banks to develop their work. Added: he should be encouraged international banks to open branches in Iraq so as to create an atmosphere competitively compete through local and foreign banks to provide the best banking services using the latest technologies.
millionday: note -- as we know the banks are there -- this is talking about opening them to the nation and for services
millionday: here we go -- Dr. appearance of Mohammed Saleh said: that Iraq within the Convention "Alvta" (Law Alamttal new tax American) citizens of a naturalized U.S. citizen in all the world and passed by Congress in 2010. known as "Alvta" It is an abbreviation for Foreign Account Tax Compliance Act as measures limiting evade American citizens to pay taxes to the government, has been working out recently in 30 countries in the world.
millionday: Saleh said in a statement (morning) that work this Convention gives immunity reciprocal for both Iraq and the United States in the field of taxes and follow-up the movement of money in addition to that it increases the transparency in the exchange of information between the two sides of government.
pointing out that the banks operating in Iraq covered by the Convention "Alvta" reduction of tax evasion when entering Iraq to the Convention effectively.
[millionday] note -- this is a great report that is talking about the laws we have seen and talked about meaning that the US of A has demanded that people can not have accounts in other countries as a tax haven to avoid paying taxes in the US of A --- very interesting timing to have this report in Iraq -- smile
[millionday] i am going to bring this report so we can read it together but wow --- this is very interesting that Iraq is being included and addressed on this right now -- love it
[mudder] Millionday..... Your pretty darn smart
[millionday] said that if the U.S. citizen, for example, to pay for the premium or the price of an apartment in cash, was discovered the subject of the selling company as recorded receipt of the amount in cash and the amount of value is high, and put the buyer can not buy it,
he will face the buyer two counts, but that he had other income and by concealing the IRS, or he owns entered illegally or is the process of money laundering.
[millionday] mudder muuuuaaahh!
[millionday] note -- so if they go in (US citizen) and buy and spend and have accounts without reporting their monies of investment -- the law applies --- hmmm
[millionday] decided some countries make the deal banks with the IRS the U.S. directly, what makes its financial institutions subject to "Alvta", or face sanctions that will be taken by the United States against the banks, the countries that do not reveal private accounts, Americans have deduct 30 percent of their accounts in banks the U.S., and to prevent the final of the handle.
[Imperator] Very interesting to say the least.
[millionday] note -- this was stated and released this morning -- wow
[millionday] his part, said the academic economic Dr Essam Mahouelle told (morning): that taxes in the United States high and expensive as well as higher wages for manpower there, what makes some of them looking for the establishment of Projects bring him profits in countries where the tax payment is less and the cost of manpower is low.
[millionday] note -- meaning that the 30% is first and then what you file adjusts this due to right offs etc --- however -- they are stating that the man power will be less in Iraq for projects etc it appears
[millionday] and added that this agreement serves the American side too much compared to some of the banking facilities provided by the United States of the member states of the Convention. his part, said adviser in matters of international trade Tawfiq inhibitor (morning ) should be developed banking system and make refineries international regulations
[millionday] so that Iraq can benefit from this agreement. He said that the agreement gives member states the legal cover for the freedom of action of the banks as well as granting facilities to the business of banking.
[millionday] so this is very interesting and wow wow --- so Iraq has been told of the report law and they will have to report as all countries if an American has huge accounts there for taxation --- this is international compliance in banking and country citizen laws and business laws etc etc --
[millionday] yay -- i love that
[golfmanone] I am curious about article that came out today saying we are looking at 2015. If you saw it what are your thoughts? Thank you!
[millionday] i dont know anything about it
[wyntrammell] millionday with all of the isx info , doesnt it have to have a budget and an rv for it to be activated
[millionday] when we look at a stock market and again i am not a stock market expert :: disclaimer ---- the currency to do with that market is paired with the currencies as well --- IQD/USD
[millionday] that calculation is done the same way for all countries and provides fair global trade -- the budget is what funds go to who for what for the nation -- inside the nation -- so the budget of the country will not hold up the activation of the isx -- or at least it logically and factually should not ----
millionday] the way to put shares on the market when the trade is international and it includes franchises etc -- would be a mess for lack of a better way to put it -- without the reality of the value of the dinar to be calculated ----
millionday] The Board of Directors of the labour market to the securities it held a joint conference with the international financing institutions to mobilize financial and moral support for the opening of the market in August. According to a press release published on the website of the Kurdistan "capital Arbil saw the start of work of the Conference of the international financing institutions (IFC) and Erbil. [millionday] dkwsly like whooopow
millionday] the stock market in erbil is opening in August -- and the announcement was made today --
[golfmanone] Millionday, do you mind sharing who you purchase your dinar from? I'm not sure who to trust anymore. Certainly don't want to end up with phony dinar.
[larrykn] so they can wait til august to show the new rate
[millionday] i think i stated that it was opened now but that is not correct -- they will open and join ISX in August
[ROBINREDHED] golfmanone dinarcorp.com
[golfmanone] Thank you. Me too!
[poppy3] guys they can open all the isx offices they want and it is just like the bonds they can print and offer the bonds at any rate but until they have backing for that value they will not be sold and
the isx can't trade because their will be no bidders for the dinar till value is applied and there is financial backing for the true value and in order for that guess what they need to DO--
value their currency and become a full member of the wto.
ALL THIS CAN HAPPEN VERY QUICK JUST LIKE ALL THESE THINGS BEING REPORTED TO FULLFILL THEIR NEEDS PRIOR TO RELEASING THE VALUE.
QUESTION IS ARE YOU READY ??? I TRUELY SUSPECT THEIR ARE 75% OF PEOPLE INVESTED THAT WILL SAY YES I AM READY AND THEY HAVE NO IDEA HOW UNPREPARED THEY REALLY ARE ??? POPPY3
[smiller67] golfmanone Thank you!
[millionday] thank you -- that is who i used too
[millionday] jtank i had that report from isx
[millionday] it was not translated very well because it was blocked so i worked and worked on it to get the three pages done as well as possible but no one could get what it was saying so i just got rid of it
[millionday] i will try some more
[millionday] i have one more report hold one sec brb
[millionday] here we go -- Farah pumice between an economist that investment is the best way to provide jobs for the unemployed in all joint economic, especially that its success depends on the policies set by the state and is consistent with the requirements of current and future.
expert harmful Sbahi said in a statement the "morning" that the investor is usually looking for environment for business has the lowest potential risk legitimate, and whenever deepened administrative practices of good in the country has increased the intensity of investments as an advantage of the economic benefits. "
[millionday] note -- the way to get unemployment down is to make it a benefit for investors to come in economically
[millionday] added Sbahi, "according to global indicators, the investment is a key factor in many of the states, as it adds new productive capacities to assets Productivity in the community through the establishment of new projects or the expansion of existing projects,
or replacement or renewal projects ended its useful life, it's also a lot to contribute to the reconstruction of infrastructure projects in the countries of the world. " expert urged the importance of following the ways of governance in investment, as
millionday] note -- they mean the ability for people to go to work in other countries and at home for projects to rebuild roads etc infrastructure
[millionday] it emphasizes vocabulary to ensure that the rights and the application of agreements and contracts strictly and regularity and ease of implementation matters relating away from the political disputes and achieve the greatest premium of justice in the dispute, ‘
saying that Iqbal companies discreet contract or investment in Iraq is still weak and not the level of ambition. indicated that the investment on the level of the economy National respect to capital spending on new projects in the sectors of public utilities and infrastructure projects such as roads main and sub-projects, water supply and sanitation and to create urban plans and construction projects, housing and extensions of electricity and power generation,
[millionday] note -- remember what we had talked about concerning what the US did to get out of the depression --- utilities -railroad-roads etc
[millionday] as well as social development projects in the areas of education, health and communication, as well as projects that are related to the activity Economic production of goods and services in the productive and service sectors such as industry, agriculture, housing, health, education and tourism.
For his part, confirms an economist appearance of Mohammed Saleh in a press statement, that the fundamentals of the elimination of unemployment is a real transformation to a market economy through an effective partnership between the state and the owners of capital local and foreigners through investment projects in various sectors.,
[millionday] but a member of the Committee on Labor and Social Affairs in the House of Representatives on the Kurdish pointed out that there are laws and legislation prevented political differences without approval, it could solve part of the problem of unemployment, through major investment projects.
mentions that the Ministry of Planning recently announced that the unemployment rate declined from previous years and reached 12 percent, a decline in the indicators of unemployment, despite the presence of more than one million unemployed, indicating that the reason was due to the lack of harmonization between education outputs and labor market requirements.
[millionday] the thing is this -- when unemployment is calculated -- they take into account who is employable and also the ones that have or are receiving benefits and so many other issues and i dont want to hold class but obviously the point is to bring in the money and funding and get people rebuilding the country