Millionday News 7/6/14 Part 1
Welcome To Sunday Night News Time With Millionday!
[millionday] here we go -- The Director of the 'IMF' Christine Lagarde said on Sunday that he expected to accelerate global economic activity in 2015 after a gloomy picture at the beginning of the year 2014, adding that the Fund does not expect a sharp slowdown in China. Lagarde explained that 'there are limits to the impact of the policy of the central banks, which aims to support demand', adding that States must also work to promote growth, especially through investment in infrastructure, education and health as long as it is able to carry the debt.
[millionday] She said expectations 'IMF' for the global economy, which will be updated later this month, will be slightly different from the expectations published in April, pointing to the possibility that the range of growth in China this year, between seven and 7.5 per cent.
[millionday] so the report says that there will be some calculation changes later this month -- very interesting
[millionday] end of report and i have no further info on it so brb with more
millionday] here we go A member of the National Alliance Ammar Hussein Sunday that the leader of the National List of Iyad Allawi, the head of a coalition united to reform Osama Najafi and the President of Kurdistan, Massoud Barzani, conducted by telephone with the religious authority Ali al-Sistani to urge al-Maliki to step down.
[millionday] Hussein said in an interview with Russia Segudnaa Allawi and Najafi and Barzani held telephone contact with al-Sistani to resolve the positions of the new government and to influence the Prime Minister outgoing Nuri al-Maliki to withdraw his candidacy to take over the government for a third term. Hussein added that the masses of the Liberal of the Sadrist movement and the citizens who constitute the National Alliance with the state law reject completely the third mandate of the owners.
[millionday] oh now this is great and we agree completely – smile if only he would take it seriously
[millionday] the country needs some other person in the position and that is no secret smile
[millionday] brb with more
jtank] the ministry of finance auctioning 500 bil dinars?
[millionday] i saw that and we will bring it in and look at it brb with it
[millionday] here we go - wow its working – smile Ministry of Finance announced it would set up on Monday auction of Treasury Notes of the order of 364 days at $ 500 billion dinars. Said a source in the ministry said the auction is the sixth this year and the third of its kind, which is the sale of treasury transfers to government agencies such as banks and the Retirement Commission and the Ministry of Labor.
[millionday] note -- the sale of treasury notes is normally for government funding or for emergency needs for a nation
[millionday] Added, The source said the due date will be in the seventh month of July next year and based on the public debt law, which authorized the Ministry of Finance issued remittances Treasury guaranteed by the government. The Central Bank of Iraq as an agent financially to the Ministry of Finance manages auctions of treasury transfers on behalf of the ministry for the purposes of government funding.
[jtank] sczinn11 mentioned that was for art 8 compliance
[millionday] ok so what we see here is that it is for government funding and they must have a reason to be able to pay it back or guarantee it by july of next year -- that is very soon
[mrref1216] July of 2015
[millionday] they may have needs to complete agreements of funding that they need to comply with in order to reach article 8 so that could very well be due to the many agreements they have made
[millionday] no this will be due by july of 2015
[millionday] 364 days
[millionday] so very interesting that they expect that to be a possibility -- huge confidence in financial capabilities
[millionday] here we go
[millionday] Twilight news, the Iraqi Government Sunday decided to increase the Bank's capital real estate to 350 billion dinars, according to a Government statement.
According to the Council of Ministers decided in its meeting held the day of acceptance of the amendment to paragraph (1) of its resolution No. (234) of 2014 to increase the Bank's capital real estate of $ 150 billion to 500 billion by increasing the amount of capital real estate Bank to 350 billion dollars.
He said in the statement to "twilight news this year will increase with the addition of a hundred and fifty billion dinars for the same year.
[millionday] now the way i look at this is a little different than most -- they have changed the law for real estate and investors to allow the investor to buy the land they are building their store / place at so this is an obvious preparation for people with funds to back real estate in my opinion
[millionday] loans would not be done or money funded for those that can not raise the money to guarantee the real estate in business especially bank business of a returning country to economic health
[millionday] i know many disagree but that is my opinion on its reality
[mrref1216] makes sense to me
[SHIEK] Attract foreign investment, its time to play with the big boys
[millionday] ok brb with more -- thank you all for your patience
[millionday] SHIEK exactly -- they have to have the funding to move forward -- it takes money to make money
[SHIEK] They have the reserves to back the debt, which they have none of at this time
[jtank] it takes the banks money to make money---
[mrref1216] Plus its lowering the note count... and that is a good thing
[coolspot] Does this pertain to purchasing the property, or they develop and lease the property back to the manufacturing concern whereby the manufacturer puts their money into equipment and plant, instead of real estate?
[mrref1216] Thats a good question for Turki lol
[coolspot] The above is what is undertaken in most developing Nations!
[SHIEK] coolspot They are in A1 position to proceed with the project, and yes these are requirements for Iraq to get to article 8,imo
[millionday] there is some type of meeting that is going on july 4th that i am trying to get some info for us on so brb
[lstar877] Oh wow how long will article 8 take? I thought that was done
[SHIEK] They want credit potential in the world markets
[mrref1216] Istar877 IMO we need HCl, article 140 and article 8 and a GOI before we see RV
[lstar877] Shiek can that be done immediately or is it a requirement for rv?
[millionday] that is all part of it not a hold up imo
[millionday] that is all part of it --- hcl will be done by funding and also the article 140 will be upheld to maintain unity but we will see -- i never just give my opinion but i have to say that the constitution will win
[SHIEK] lstar877 part of the process for preparation into a market economy, globally. RV can happen when they see fit
[millionday] here we go with something that is very telling smile
[millionday] Yasser incumbent transparency and disclosure of style adopted in the transition towards a market economy and without them can not achieve the principle of governance which always calls her Economists means good governance and may be useful to refer to applications of this technique, in one of the meetings of the General Authority for one of the banks that took place during the the past week we have seen up close this experiment how?
considered Authority highest authority in the company, one of the select chairman and members of the Board of Directors and the hold them accountable for the implementation of the plans drawn and her hand all the important decisions
[millionday] note -- in the last week there have been many meetings and this is talking about transparency for business -- let me explain what that means
[millionday] in our trade you can pull up figures for investment decisions that are available for the investment in those companies through the stock market -- for instance the revenues gained and the losses and all investments ect
[millionday] it is true
[SHIEK] Full transparency, creates confidence in spending your money abroad
[millionday] you can pull up any company that you are interested in investing in and make an informed decision by the reports that are transparent
[millionday] that is transparency for the stake holder and also the investor or even the researcher ect -- even the student -- so lets look at the rest of this report
[millionday] note -- and as we see for the decisions -- smile
[millionday] After submitting Alajrouat formal offer work program included reading the annual report of activities practiced by the bank and display the final accounts are being used to be a member of the Commission to discuss the reports,
paragraph by paragraph and then clarification and inquire of the Board of Directors for each Tuwaini, especially those related to expenses and spending are then approve Aorvd reports or recommendation as amended, according to the observations of the members of the Commission.
This style is required to achieve fair procedures and fair to shareholders and maintain their rights and the way that is the path bosses of the company of deviation
[millionday] note -- as we see the members of the commission -- this is part of being able to invest and being informed
[millionday] Awaltlaab, so it comes with satisfactory results through the realization of profits, without which can not be for the company to stay in the labor market, this observation leads us to the conclusion that one of the reasons for the failure of the public companies they do not depend this technique used globally in large economies. ‘
eight of this style is the one that separates the joint-stock companies and family so that they are public bodies ability to correct the important decisions in the course of the company and maintain its durability, but the outlet on the family business it deviates from the application of the goals that were licensed for.
[millionday] note -- they are discussing the different uses for the transparency we are discussing
[SHIEK] This is all part of the business footprint set up years ago by the United States for Iraq.
[millionday] note -- this report is going to give us a huge amount of information -- smile
[millionday] Not profit alone obsession vacation companies, despite its importance in durability but there are targets of economic and social should their presence when do any particular activity and so indelible dye taken from your activity as a Aahdf only preference profits have produced a system of free Awaguetsad market style of transparency and disclosure in order to achieve the principle of governance that contribute in strengthening the capacity of companies and durability in the labor market.
[millionday] note -- lets understand that this is what is done in countries that have a global and working stock market that is healthy and viable as well as compliant to trade laws
[millionday] note -- this is one of the parts of this report that i told you would give us much needed info
[millionday] Perhaps what we saw from the application of this technique in the General Assembly meeting of UNESCO's International Bank, where Morse this principle, which promise to Chairman and Wadih Handal Hoalasas in achieving the desired results,
make sure we have Balmoktua to approach new economic Stepping Iraq him is a market economy requires dedication style of transparency and disclosure, and the trend towards corporate governance in order to cope with the global economic system, otherwise we will lose everything.
[millionday] note -- what they are saying is that they have to be compliant in the global stock market system or not be attractive to the global investor -- smile -- so that is shown to be a goal and a goal right now
[millionday] jtank smile
[millionday] eight governance principle economist can be implemented in public companies, but then converted into joint-stock companies and to the private sector with the task of responsibility of management and thus can achieve economic reform and financial and administrative in these companies.
When available, the style of transparency and disclosure, which has long used by the Securities Commission, according to its president Abdul Razzaq al-Saadi when assessing the performance of companies and thereby guarantee join companies its structure new to the Iraqi market for securities,
which is a real indicator of the companies and the ways of success and so we believe the success and advancement lagging companies and unemployed and the labor market entry and production, These are the interest and the importance of public bodies in the course of corporate change towards success.
[SHIEK] Great stuff, not at 1166/1 though
[millionday] so this report is talking about the changes made to enter their stock market to the globe or it would make no sense -- transparency is for the investor and they are talking about the choice to add compliance for the global investor so that the lagging companies would gain and become successful due to the simple and known step of transparency so that outside and foreign investors would find their business as not a risk but a growing company –
the bottom line does not always show all that is happening in the stock market "world" -- but the transparent reports can explain the direction they are going and the expectations so that it makes sense to invest -- this is how lagging and structured new companies make it in a short period of time and can come successful -- transparency
[millionday] and it is also how you can protect your self from losing in your investments -- transparency can show you how it is not a good idea to invest in some
[millionday] SHIEK exactly -- an imposed rate can not produce growth --- the global rate for global trade however is a different story -- they have a starting point of reality and then their capabilities show themselves --- smile
[slh5282] so nasdaq is not up in Iraq?
[millionday] it was to be launched under the omx platform on july 1st and i read that it has been postponed for something and it wasnt stated what but seemed to be talking about not long -- a small amount of time is what i got from it -- something they are meeting about
[SHIEK] HCL has to be part of this process, with transparency in full control. IYO, will we see more on HCL in the coming days with all this talk of a free market economy?
[millionday] i have done a lot of research on the isx and am working on it so will have a better statement for ya
[millionday] SHIEK absolutely -- i have seen the statement that it is prepared and done but not activated along with the amnesty -- they were completed at the same time ---- they will activate it but are now using the 2007 by what i see with my research -- it all fits the 2007 right now by what i have read
[jtank] How about the smart cards-are they using them yet?
[millionday] they were to be loaded and usable on the first of july and i have been told that we can not use them yet -- so something has been held up
[millionday] the budget is to be addressed and voted in at the first session but i dont see it on agenda report but i have not looked in my received report of the first agenda yet -- so i may have more in it
[millionday] brb with more smile
[millionday] Pablo love ya hun
[SHIEK] All this give's more validity to having a functioning GOI
[lstar877] We may really actually have a rate this week! It seems everything on hold short term for government
[Baxter1243] lstar877 Pray..
[lstar877] Shiek yes
[Pablo] Ironic when they are supposed to be getting so much transparency when yours is so secretive.
[Pablo] your government I mean
[SHIEK] This transparency in the financials eliminates all the bad guys running the system
[Pablo] You need that on Wall St.