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Sunday, June 19, 2016

Dinar Updates Saturday PM Chat 6-18-16  Part 2 of 3

Post From Dinar Updates
Chat Room Excerpts & Highlights
 
Dinar Updates Saturday PM Chat 6-18-16  Part 2 of 3
 
rcookie says():Article 9:First:The Kurdistan Regions share shall be 17% (seventeen per cent) of the total expenditures shown in Table D: Government Expenditures attached to this law shall be paid by the Federal Ministry of Finance with the approval of Cabinet.
 
puffdragon says to wmawhite():I think you should call LUCAS !:D
 
Dr dave says():from the disputed territoriesas well rc ?
 
rcookie says():THAT IS FROM PAGE 13 OF THE 2016 BUDGET LAW....
 ~~~
jeffusa says():Officials from the Kurdistan Regional Government (KRG) in northern Iraq will consider an end to the standoff over unilateral oil exports if the central government in Baghdad guarantees the Kurds US$1 billion in monthly revenues, news agencies report.
 
The Iraqi Kurds have largely maintained the upper hand in this oil independence struggle since they began exporting oil on their own directly to Turkey, but since then, Baghdad has made several moves to gain more leverage.
 
The latest move in March saw Baghdad indefinitely halt oil exports from its National Oil Company (NOC) through the northern Kurdish pipeline, depriving the Iraqi Kurds of additional revenue from the NOC’s 150,000 bpd, in order to pressure them to give in on an oil-revenue-sharing deal.
 
The Iraqi Kurds, however, aren’t likely to give in without putting a high price tag on their capitulation, which for now is set at $1 billion per month, from the Iraqi federal budget. This figure is said to represent 17 percent of the budget, which was the original deal between the Kurds and Baghdad before the latter cut out the former as punishment for exporting oil unilaterally.
 
SRW says():Yes. But.. Was this passed by the Parliament?
 
jeffusa says():The Iraqi Kurds have not delivered any crude to Baghdad for over a year in retribution for the central government’s failure to give the Kurds their share of the federal budget.
 
Related: Russia’s Oil Giants Feel The Crunch But Stay In The Black
 
The Kurds are not concerned about exporting their oil unilaterally; rather, they are concerned about revenues. Reuters cited Iraqi Kurd officials as saying that it was of no importance where the oil goes first on its way to the market, as long as the Kurds get the same revenues in the end.

By the latest count, the Iraqi Kurds exported over 513,000 barrels directly to Turkey in May, for revenues of just over US$390 million. It’s not enough to pay the debts it owes to its operators, fund the battle against the Islamic State (ISIS) in and around oil-rich Kirkuk and handle its budgetary requirements, while simultaneously gunning for independence.
 
The latest deal is one of many that have been proposed in recent months.
By James Burgess of Oilprice.com
 
puffdragon says to rcookie():And budget totaly executable ! AH Rcookie .:)
 
rcookie says to puffdragon():EXACTLY..
jeffusa says():thats all I have on the Kurd stuff
 
geofitness says():@zaidbenjamin 51m51 minutes ago
In the last 10 days, Al-Jazeera Arabic AJA breaking did not report a single death in ISIL ranks in #Fallujah & Anbar
 
Dr dave says():talk of decentralization...WHOOOPOOW
Robl says to jeffusa():Good Info, Thanks Jeff
 
rcookie says to puffdragon():Third:Allocations of provinces, and provinces not organized in a region taken into account according to the ratio of their population, out of the total expenditures shown in Table D / Sovereign Expenditures attached to this law after excluding the share of the Kurdistan Region, amounting to 17%.
 
rcookie says to puffdragon():DONT KNOW WHY IT DOES THAT..
 
puffdragon says to rcookie):Has a mind of its own !({)
 
SRW says):Are there not areas of Iraq that the Kurds are still in dispute over?
puffdragon says to geofitness():Sounds like Al-Jazeera is just like our left wing media, dont deal with FACTS !

Dr dave says():if the Kurds are happy ...I am extatic...spell that right?
Dr dave says():yes SRW   Dr dave says():KIND OF......HEHE
Dr dave says():a bunch of MOUs holding it together
 
rcookie says to puffdragon():ON PAGE 14 & 15...AND INCLUDES PESHMERGA IN FEDERAL SYSTEM AND RECEIVE ALLOCATION PERCENTAGE OF GROUND FORCES COMMAND BUDGET...AS PART OF ISF BUDGET APPROPRIATIONS...
 
SRW says():If there are still disputed areas then how will the 17 percent be determined for oil revenue?
 
Dr dave says():thats what i have been asking .but there is something about the kurds getting a billin a month
 
Dr dave says():billion   Dr dave says):in lieu of......hehe
 
rcookie says():Abadi ordering the implementation of the recommendations brought by the civil crisis management cell
 
Saturday June 18 2016 20:48  Alsumaria News / Baghdad
 
Ordered Prime Minister Haider al-Abadi, Saturday, the implementation of recommendations made by the Management Cell civilian crisis after the end of its meeting held under the chairmanship of the Director of the Office of the Prime Minister Mahdi Keywords, Among those recommendations provide crisis cell in Anbar province, and the Committee of relief to the displaced inventory numbers of displaced families in the Amiriyah Fallujah camps and Habbaniyah and Khalidiya bridge Bzabz within 24 hours.
 
Information Office of the Prime Minister said in a statement seen by Alsumaria News, he said that the latter "is the implementation of recommendations made by civilian crisis management cell after the end of its meeting held today under the chairmanship of the Director of the Office of the Prime Minister and the presence of Jan Kubiš Special Representative of the Secretary-General of the United Nations and his Deputy for Humanitarian Affairs Liz Krandi, in the presence of the deputy governor of Anbar, the mayor of Falluja, in addition to representatives of ministries and representatives of relevant international organizations. "
 
Read More   http://ift.tt/1UIrh32
 
rcookie says():NOW THATS CALLED AN ACTION PLAN!!
2k001 says():"the implementation of recommendations made by civilian crisis management cell"....sounds expensive, wonder where the $$ is coming from?...
 
cookie says():EVERY COUNTRY ON THE PLANET HAS PLEDGED HUMANITARIAN AID FOR THE DISPLACED IN IRAQ AND SYRIA......
 
rcookie says):ESPECIALLY COUNTRIES NOT SUUPLYING MILITARY SUPPORT AS PART OF INT'L COALITION...SO.....
 
rcookie says():OK....SO..I WONDER WHY THIS ANNOUNCEMENT FROM CBI TIMING WISE IN RESPECT TO ALL OF THE ACTIONS TOWARD RAISING THE CAPITALIZATION OF BANKS IN THE PAST FEW WEEKS...TO AS HIGH AS 300% IN SOME CASES....
 
rcookie says():Central Bank announces the possession of 50 billion dollars as a "reserve" as well as gold
 
June 18, 2016 81 0  Our economy/Baghdad Central Bank Adviser, said Waleed IDI, that the Central Bank has more than $ 50 billion in reserve as well as gold, indicating that this reserve covers imports more from internationally recognized term ",
 
He explained that the Central Bank with branches of foreign banks ' capital increase in proportion to the banks ' capital, "June 30, being the first capital increase will receive foreign bank branches to 25 million dollars."
 
"Idi" this reserve is to meet the private sector's requests to import coverage since the State was 95% imports and now do not import anything except for your purpose to Iraqi ministries ", but" but private imports no hand in Iraq are funded process except the Central Bank, by harnessing the reserves. "
 
LINK    http://ift.tt/265F5zW
 
rcookie says():SO BRAGGING ON THEIR RESERVES AND GOLD HOLDINGS STATUS AS BEING WELL ABOVE THE INT'L STANDARD....AND STATING BY JUNE 30TH...T
 
HE IMPLEMENTATION OF CAPITALIZATION OF FOREIGN BANKS IN IRAQ TO 25 MILLION DOLLARS...AND THE 2ND PHASE NEXT YEAR RAISING TO 50 MILLION DOLLARS...
 
rcookie says():Founding gathered Snaaa- banker for the advancement of national industry
 
6/18/2016 0:00   It aims to increase participation to GDP  BAGHDAD - Suha Shaykhli   stressed the economic expert on behalf of Jamil importance of amending the Banking Act to allow for the industrial sector 's long - term investments rather than commercial loans that are irrelevant to the productive national investment, calling at the same time to the establishment of a mixed development bank Adarbaklah the private sector with the Council of management of the majority of its members from the private sector.
 
industrial Bank , citing in an interview with «morning», the distinguished role played by the industrial Bank of the industrial sector in decades, describing his role as positive , especially in giving the various loans and gambling , whether in Bnaelparwa, or import where the loans of up to 60 percent of the estimated value services and the benefits of modest not to exceed 6 percent for a long time and on soft terms,
 
prompting the industrial sector to the growth and recovery at the time, and the day after they hit the industrial sector , production and other sectors of large catastrophes during the last two decades and the inability of the industrial sector of the same funding, became it is necessary to search for new funds active capital to help push this sector forward.
 
alleviating unemployment and confirms beautiful and there are strategic industrial initiative intended to be a starting point, noting that the operation of this sector Bhatrih public, private and even mixed became necessary to reduce unemployment and create new job opportunities for the work force mission presents itself to the market each year and in excess of 350-400 thousand people.
 
refers beautifully to the reluctance of the banking system in the foot on the financing of the industrial sector rewarding financial loans , either because of lack of capital , or the fear of the banks of the deficit for repayment by debtors and delay repayment because the industrial long - term loans.
 
 the banking system and continued because of the complexity of the withdrawals and the weakness of the confidence of citizens currently in the banking system to the lack of guarantees for the return of capital to their owners in time of need, Vkdbakat people 's savings in the cabinets and Qasat home exposed to the risk of theft.
 
Read More :   http://ift.tt/1UIpBGV
 
rcookie says():He adds a beautiful expert is now required from the central bank or the financial authorities have to give guarantees for the citizen to ensure that these banks as long as officially vacationed in order to send a reassuring to migratory capital to return to Iraq and invest here rather than set up their projects outside the country.
 
government program Jamil said that the new government program refers to the activation of the role of the private sector, especially industrial and restructuring and possibly privatization department him by providing a rewarding and capital to promote the industrial sector special he was to bankruptcy and a large shortage of electric power as well as opening import door without the control of the quality and tariff under Bremaralkadimh decisions that led to the dumping of commodity and depriving local industries of all growth requirements policy.
 
development bank says expert said the current situation , which is going through the country, and in the need of industrialists natives to work according to the government program and revitalize the industrial sector and restore its contribution to GDP ratios exceed 10 percent, requires finding a lot of coordination between the industrialists and banks with modifying the banking Act to allow him a long - term investment loans instead commercial deadly national productive investment with work on the establishment of a mixed development bank Adarbaklah the private sector and with the board of Directors of the majority of its members from the private sector.
 
the move is aimed to restart the industrial sector and reduce the rates of poverty in the community and create a national gathering bank and entering partnerships with the industrial sector authentic professional to limit the inflow of money parasitic capital on the industrial sector.
 
revitalize industries beautifully stressed the importance of activating the basic industries that substitute for foreign imports leaked of the coin, and the industries in which material initial available locally Calcment, petrochemical, and food and other industries that occupy the largest possible number of labor and reduce the unemployment rate.
 
Jamil confirmed at the conclusion of his speech that all of this requires a combination of legislation and regulations concerning the rapid banking system and the central bank in the broadcast assurances to citizens to ensure their deposits and their shares in banks.
 
LINK   http://ift.tt/1UIpBGV
 
wmawhite says to rcookie():are you around?
 
wmawhite says():does anybody remember how many of the EU companies are moving into Basra during 2016?
 
puffdragon says to wmawhite():I remember the article, am guessing 19 ?
 
wmawhite says():just wondering......I thought it was considerably more than 19.
Elane says():85? this could be just a faint memory for me however...
 
wmawhite says():eitherway, it is good.
Elane says():yep it is!
 
wmawhite says():However, why would anybody from the EU want to set up/invest their capital/money in Iraq if they could not take it back home with them?
wmawhite says():They would not.
 
wmawhite says():But, that is not an issue any more.
 
puffdragon says to wmawhite():Logicaly makes no sence a t all ! 
wmawhite says():Let me show you what was resolved back in December 2015 when Parliament amended the Investment Law.
 
wmawhite says():......now, remember this was amended back in December 2015 when the LOI was being drafted: the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
 
wmawhite says():to  remove the limitation on transfer of investment proceeds that gives rise to an exchange  restriction,
 
wmawhite says():investment proceeds for example, the folks coming to Basra from the EU.............they bring investment proceeds.........
 
wmawhite says():They bring the Euro..........set up operations, open bank account in IQD.............and when they want to send the dividends back home.........what has to happen?
 
puffdragon says to wmawhite():eliminate the limit on profit going out of Iraq ?
 
wmawhite says():transfer of investment proceeds
rcookie says to wmawhite():JUST BACK..
 
wmawhite says():This why they are coming to Iraq..............they removed the ?????
limitation on transfer of investment proceeds 


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