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Thursday, June 9, 2016

BondLady & Tlm724 News & Comments  6-9-16  Part 2 of 3

Post From BondLadys Corner

BondLady & Tlm724 News & Comments  6-9-16  Part 2 of 3
 
Iran shrinking exports to Iraq to lift the customs tariff
 
Economy  Since 08/06/2016 16:22 pm (Baghdad time) Follow-up - the balance of News
 
The head of the Chamber of Commerce, Industry, Mines and Agriculture in the city of Ahvaz southern Iran Shahla Amuri, that the increase in tariff three times by Iraq, hindered and reduced the volume of exports to Iraq from the border crossings of Shalamcheh and attractive pillars.
 
She Amuri told the press on Wednesday that "the increase in tariff by Iraq tripled on some goods, it may reduce the types of vegetable and fruit exports across the border into Iraq, what led to the problems of men of Iranian businessmen and Iraqis."
 
She said that "the new tariff also included exports of cement and various types of construction materials and manufactures plastic and metal, which reduced the volume of exports."
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Head of the Chamber of Commerce, Industry, Mines and Agriculture in the city of Ahvaz also pointed to "prevent the import of Iraq for some types of fruit and vegetables in relation allowed to import other types of crossings Shalamcheh and attractive pillars." LINK

 
[tlm724] that the increase in tariff three times by Iraq, hindered and reduced the volume of exports to Iraq from the border crossings of Shalamcheh and attractive pillars
 
[tlm724] that "the increase in tariff by Iraq tripled on some goods, it may reduce the types of vegetable and fruit exports across the border into Iraq,
 
[tlm724] get over it lol
 
[tlm724] tariffs are here to stay !
 
[tlm724] by the way I saw an art this morning saying Iran is supportive of a unified Iraq, all for one kinda thing
 
[tlm724] lemme see if I can find it real quick
 
Tehran: reject the division of Iraq and the region will remain unchanged for half a century, a future Follow-up - Journal News Chairman of the Shura Council, Ali Larijani, said the division of Iraq and Syria is not a solution, and that the region will remain intact for half a century future.
 
He said in a newspaper interview, that "the problem of Iraq is a security problem," asking, Is this a security problem related to dividing Iraq or abroad are linked? ".
 
"We know that Daash entered Iraq from Syria, and this latest crisis, so it must solve this crisis with its prerequisites and tools, and partition in Iraq and Syria will emphasizes the crisis."
 
Larijani stressed Iran's refusal to "any kind of partition and retail in the region because it will increase the crisis." He continued, "to imagine that if Iraq is divided into three or four zones, this will deepen and raise the region's problems, and I think that in half a century in the future, will keep the region on this case," LINK

 
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Cabinet Secretariat: the need for a time limit for the application of e-government status
 
Local  Since 09/06/2016 14:19 pm (Baghdad time)  Baghdad balances News
 
The General Secretariat of the Council of Ministers, on Thursday, to set a time limit for the application of e-government.
 
The Secretariat said in a statement received / balances News / copy of it, "the Director of the Office of the Prime Minister Mahdi Keywords presided over the weekly meeting of the General Secretariat of the Council of Ministers."
 
The statement added, "The meeting during which they discussed the importance of activating the electronic government and set a time limit for the implementation of programs on the subject."
 
And between, "he also discussed other issues including the implementation of a study devoted to reducing fuel the wheels of government funds" .LINK

 
tlm724     The meeting during which they discussed the importance of activating the electronic government and set a time limit for the implementation of programs on the subject.
 
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Abdul - Mahdi , describes the company 's proposed central to that " positive step "
 
08/06/2016 20:54  Tomorrow Press / Baghdad : The leader of the Islamic Supreme Council of Iraq , Adel Abdul Mahdi, on Wednesday, the company proposed by the Central Bank with a capital of 100 billion dinars, and approved by the Council of Ministers, is a positive step to encourage the banking sector and to ensure the money depositors at the bank 's inability or exposure to the bankruptcy and liquidation .
 
Mahdi said in a press statement received " Tomorrow Press " , that " our economy depends mainly cash Cash Additional Shipping Economy , and this is a serious manifestation of backwardness, corruption and money laundering , there are about 34 trillion dinars outside the banking session, are traded in the parallel economy, it is difficult to control it or pay trends sound development " ,
 
 noting that " this is a big number is a half of the " money supply on the basis of M1 (67 trillion dinars, ie paper currency and coins mainly ) and about 24% of the money supply on the basis of M2 (83 trillion dinars, ie M1 plus short - term deposits mainly banks ) by June this figure, note that expressions of M1 and M2 and M3 , etc., are different orders of means and tools currency is displayed . "
 
He continued by saying " deepen this reality after the nationalization and the dominance of easy money and the economy rentier and the disintegration of the economy and Mavuath, dip habit banking and the collapse of confidence in the banking system, and the lack of clarity and integrity and fairness of the tax system, and the arbitrariness of the state and put her hand on the bank accounts for security reasons, economic or personal ."
 
He said the " lack of transparency, fairness and sound policies to fight corruption and money laundering in the country 's economy, led and leads to corruption and money laundering in the parallel economy outside the note that the economy is " parallel " or " shadow , " or " black " , depending on the Titles, is in the advanced economies also is in United States nearly 2 trillion dollars, and cause the loss of taxes , of $ 500 billion dollars a year or so ,
 
but its weight is very weak compared to the sheer size of the deal and banking tools other payment but stresses economists there on the presence of the benefits of a national economy, although harmful to the treasury, as a factor to absorb unemployment and move some activities which are difficult to manage or control them otherwise . "
 
He said Abdul - Mahdi said " the company was founded, it must be completed in our opinion , other actions, not in the framework of the protection of depositors ' money, but also because Astjmab largest volume of money as well, and that would get the economy moving and to stimulate interest, business and investment " ,
 
 adding that " the central bank had studied the company 's capital, and it seems to us that the proposed capital are relatively few compared to the sector , the size of the deposits, especially as we have seen deficits and qualifying during the past years .
 
and , of course company may re - insurance to ensure their ability to repay, and will be depositors more assured if was associated with security companies and international specialized institutions, and to ensure the smooth measures in cases of bankruptcy, liquidation and defaults . "
 
He stressed that " with the financial health, and to get the economy moving, and Astjmab liquidity, has to be a clear tax policy that assured the depositors, the lack of exposure to the arbitrariness of administrative and authoritarian, compelled them to stay out of the banks .
 
It can put temporary incentives and permanent to enter the banking session, offering temptations Kalaafa or reduction of settling accounts tax, and protect deposits from disclosure and auditing practices outside world, and the development of legal guarantees for it . "
 
He added that " the study of interest rate policy . There is no doubt that the central bank in cooperation with the Government, and in accordance with the law, he can plan to take on the percentage of encouraging interest for the money prices of mode, and plan an interview to encourage lending at attractive prices benefit, including moves the markets, interests and investments ."
 
He said " a vote of confidence in the public and private banks and the elimination of discrimination in deposits and transactions and stop instruction chaos and Fjaiatha, and the arbitrariness of administrative and judicial proceedings and address the red tape and bureaucracy stalled for business and degrading treatment of customers and banks alike " and wondered " if the state itself is confident these banks, how will trust them citizens? Banks - in the economics of the day - a lever of development and oxygen economy and the closet his money .  LINK
 Shredd    This ties into the article from yesterday about balance insurance. The 100 bn dinar backing insures balances should the institution go bankrupt or has its balances liquidated.
 
Remove the fears of losing money in the banks, the people will deposit their balances which will eliminate the corruption of trading by corrupt dealers on the streets.
 
The Central Bank must rebuild confidence in the banking system, and provide clarity and integrity and also fairness of the tax policy/system.

I also suspect the recent news of change in state bank management has to do with the "red tape and bureaucracy stalled for business and degrading treatment of customers and banks alike."

 
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