KTFA:
BACKDOC: THIS IS CONSISTENT WITH EARLIER ARTICLES STATING THAT THAT IRAN WOULD GRADUALLY MEET ITS REALITY VALUE BY OCTOBER! THIS WOULD GIVE THEM A MONTH TO DO SO. HEE HEE
DON'T FORGET THAT IRAN WILL BE SETTLING ITS OIL SALES IN YEN AND EURO'S AS WELL! DOC IMO
Samson: Euro-based payment arrangement for S. Korea-Iran may launch next month
2016.08.01
South Korean companies will be able to settle accounts with their Iranian counterparts in the euro currency instead of the local won from as early as September, allowing more convenient monetary transaction with the Middle East country whose economy offers a wide range of business opportunities after international sanctions were lifted earlier this year.
The euro-based payment system is expected to pave the way for Korean businesses to speed up $45.6 billion worth bilateral projects that have been sealed in May during President Park Geun-hye’s visit to Iran.
....
BACKDOC: THIS IS CONSISTENT WITH EARLIER ARTICLES STATING THAT THAT IRAN WOULD GRADUALLY MEET ITS REALITY VALUE BY OCTOBER! THIS WOULD GIVE THEM A MONTH TO DO SO. HEE HEE
DON'T FORGET THAT IRAN WILL BE SETTLING ITS OIL SALES IN YEN AND EURO'S AS WELL! DOC IMO
Samson: Euro-based payment arrangement for S. Korea-Iran may launch next month
2016.08.01
South Korean companies will be able to settle accounts with their Iranian counterparts in the euro currency instead of the local won from as early as September, allowing more convenient monetary transaction with the Middle East country whose economy offers a wide range of business opportunities after international sanctions were lifted earlier this year.
The euro-based payment system is expected to pave the way for Korean businesses to speed up $45.6 billion worth bilateral projects that have been sealed in May during President Park Geun-hye’s visit to Iran.
....
According to multiple sources from the financial industry on Sunday, the United States government has indicated it would condone South Korean companies to make payment in euro, a currency largely favored by businesses in the Middle East country.
Korean companies had been under compliance of U.S.-led sanctions on Iran for its nuclear weapons activity. Seoul still needs to confer with Washington in the scope of reviving trade and launching new business ventures amid incremental easing sanctions according the compliance in the landmark deal Tehran reached with major global powers.
Upon green light from Washington, Korea will start trial run in the new payment system as early as next month before full-fledged service. The euro-based payment system allows Korean financial institutions to make monetary transactions in euro via European banks as intermediaries.
Under the system, when Korean companies would send money to European banks that would exchange won into euro before transferring the money to Iranian banks.
So far, Korean businesses in industries including construction, shipbuilding, and automobile, have received payment in won via accounts named under Iran Central Bank managed by Woori Bank and Industrial Bank of Korea. Likewise, Iranian companies promoted trade with their Korean counterparts by receiving payment from Iran Central Bank. There have been no actual money transfers between Woori Bank and IBK and Iran Central Bank.
The euro-based payment system is expected to accelerate $45.6 billion worth project deals that have been provisionally signed between Korea and Iran in May.
Korean shipbuilders have already signed 3 trillion won ($2.7 billion) worth memorandum of understanding with Iran while state utility firms Korea Gas Corporation and Korea Electric Power Corporation are each engaged in multi-billion-dollar energy projects.
Six construction firms including Hyundai Engineering & Construction Co. have also been selected as the preferred bidder for an order for 2.3 trillion won worth hospital construction project last month.
Korean policy institutions are also moving swiftly to benefit from the Iranian boon. The Export-Import Bank of Korea has introduced a $15 billion financial package support for local businesses. It is also in last-minute talks with the Iran Central Bank in signing a financing deal to support exports.
The Korea Trade Insurance Corporation has also sent a draft of a contract to Iran that includes 5 billion euro worth export financing support. The corporation expects the contract to go through in September at the earliest if the euro-based payment system launches on time.
Iran, which is a major trade partner with Europe, has long preferred payments to be made in euro. However, this has been impossible for Korean firms when promoting trade with their Iranian counterparts as they must first be converted into dollars which could go against U.S. local law. Korean firms have long been campaigning for euro-based payment system to expand their trade with Iran.
http://ift.tt/2aKba9W
************
Mountainman: As We APPROACH D DAY in The GLOBAL MARKETS........MAJOR CURRENCIES will Head South for the {FALL}.....I fully Expect to See this Become More of A REALITY as the "FALL" Approaches........
Yes, MANY "LEAVES" will {FALL} and This will Allow Others COUNTRIES to BEGIN to RISE........This ALONG w/CHINA'S Surge to OCTOBER 1,2016 Should Be GREAT SIGNS of A NEW GLOBAL REALITY for MANY........INDEED IMO
Blessings,Mountainman (8)=New Beginnings........for A SLIP n SLIDE........That LEADS MANY to RISE and {FALL}.......
Don961: Emerging Markets Climb to One-Year High
.Tuesday, August 2, 2016 - 02:00 World Economy
Emerging-market stocks and currencies climbed to their highest levels in about a year, as reduced bets for US interest-rate increases and prospects for more stimulus in Asia spurred demand for higher-yielding assets.
Chinese shares in Hong Kong rallied after a private manufacturing index unexpectedly rose to the highest since February 2015.
Turkish equities rose for a fourth day, having recovered nearly half of the losses following a failed coup. Malaysia’s ringgit and South Korea’s won led gains in currencies, Bloomberg reported.
Investors added more than $2 billion to exchange-traded funds that buy emerging-market stocks and bonds last week. Polish bonds rose, with yields on 10-year debt falling to an eight-month low.
Equities and currencies are extending two months of gains after a report showed the US gross domestic product grew at less than half the pace forecast by analysts, fueling bets the Federal Reserve will refrain from raising rates.
Japanese Prime Minister Shinzo Abe may unveil details of his fiscal package on Tuesday after the Bank of Japan added to its easing last week, and economists forecast policy rates in Australia and England will be cut further from record lows this week.
“Lower for longer is good for higher-yielding assets, such as emerging-market equities and it prevents a rising dollar,” said Nathan Griffiths, who helps oversee about $1.1 billion as a senior money manager at NN Investment Partners in The Hague.
“It also leads to a better growth differential for emerging markets over developed markets.”
Futures signal a 39% chance of higher US rates by year end, down from 48% a week earlier. The first month where traders see better-than-even odds for an increase has been pushed back to September 2017 from March.
Exchange-traded funds that buy emerging-market stocks and bonds are on a nine-week winning streak with a record $12.9 billion invested.
http://ift.tt/2axXJ9C
****************************
WSOMN:
StarChild: Dow Suffers Longest Losing Streak In A Year As Crude Crashes, Credit Craters
by Tyler Durden Aug 1, 2016 4:03 PM
After a multi-decade record 9 up-days in a row, The Dow is now down 6 days in a row - the longest losing streak since August 2015...
The S&P 500 managed to make intraday record highs once again, thanks to a VIX smash to 12.00... but then the machines ran out of stops again...
As investors rushed for the safe haven triple-digit P/Es of FANG stocks...
Which sent Nasdaq higher on the day.. and thanks to an utterly farcical panic bid into the close, Small Caps managed green too...
Read more at : .. http://ift.tt/2adfOxt
Korean companies had been under compliance of U.S.-led sanctions on Iran for its nuclear weapons activity. Seoul still needs to confer with Washington in the scope of reviving trade and launching new business ventures amid incremental easing sanctions according the compliance in the landmark deal Tehran reached with major global powers.
Upon green light from Washington, Korea will start trial run in the new payment system as early as next month before full-fledged service. The euro-based payment system allows Korean financial institutions to make monetary transactions in euro via European banks as intermediaries.
Under the system, when Korean companies would send money to European banks that would exchange won into euro before transferring the money to Iranian banks.
So far, Korean businesses in industries including construction, shipbuilding, and automobile, have received payment in won via accounts named under Iran Central Bank managed by Woori Bank and Industrial Bank of Korea. Likewise, Iranian companies promoted trade with their Korean counterparts by receiving payment from Iran Central Bank. There have been no actual money transfers between Woori Bank and IBK and Iran Central Bank.
The euro-based payment system is expected to accelerate $45.6 billion worth project deals that have been provisionally signed between Korea and Iran in May.
Korean shipbuilders have already signed 3 trillion won ($2.7 billion) worth memorandum of understanding with Iran while state utility firms Korea Gas Corporation and Korea Electric Power Corporation are each engaged in multi-billion-dollar energy projects.
Six construction firms including Hyundai Engineering & Construction Co. have also been selected as the preferred bidder for an order for 2.3 trillion won worth hospital construction project last month.
Korean policy institutions are also moving swiftly to benefit from the Iranian boon. The Export-Import Bank of Korea has introduced a $15 billion financial package support for local businesses. It is also in last-minute talks with the Iran Central Bank in signing a financing deal to support exports.
The Korea Trade Insurance Corporation has also sent a draft of a contract to Iran that includes 5 billion euro worth export financing support. The corporation expects the contract to go through in September at the earliest if the euro-based payment system launches on time.
Iran, which is a major trade partner with Europe, has long preferred payments to be made in euro. However, this has been impossible for Korean firms when promoting trade with their Iranian counterparts as they must first be converted into dollars which could go against U.S. local law. Korean firms have long been campaigning for euro-based payment system to expand their trade with Iran.
http://ift.tt/2aKba9W
************
Mountainman: As We APPROACH D DAY in The GLOBAL MARKETS........MAJOR CURRENCIES will Head South for the {FALL}.....I fully Expect to See this Become More of A REALITY as the "FALL" Approaches........
Yes, MANY "LEAVES" will {FALL} and This will Allow Others COUNTRIES to BEGIN to RISE........This ALONG w/CHINA'S Surge to OCTOBER 1,2016 Should Be GREAT SIGNS of A NEW GLOBAL REALITY for MANY........INDEED IMO
Blessings,Mountainman (8)=New Beginnings........for A SLIP n SLIDE........That LEADS MANY to RISE and {FALL}.......
Don961: Emerging Markets Climb to One-Year High
.Tuesday, August 2, 2016 - 02:00 World Economy
Emerging-market stocks and currencies climbed to their highest levels in about a year, as reduced bets for US interest-rate increases and prospects for more stimulus in Asia spurred demand for higher-yielding assets.
Chinese shares in Hong Kong rallied after a private manufacturing index unexpectedly rose to the highest since February 2015.
Turkish equities rose for a fourth day, having recovered nearly half of the losses following a failed coup. Malaysia’s ringgit and South Korea’s won led gains in currencies, Bloomberg reported.
Investors added more than $2 billion to exchange-traded funds that buy emerging-market stocks and bonds last week. Polish bonds rose, with yields on 10-year debt falling to an eight-month low.
Equities and currencies are extending two months of gains after a report showed the US gross domestic product grew at less than half the pace forecast by analysts, fueling bets the Federal Reserve will refrain from raising rates.
Japanese Prime Minister Shinzo Abe may unveil details of his fiscal package on Tuesday after the Bank of Japan added to its easing last week, and economists forecast policy rates in Australia and England will be cut further from record lows this week.
“Lower for longer is good for higher-yielding assets, such as emerging-market equities and it prevents a rising dollar,” said Nathan Griffiths, who helps oversee about $1.1 billion as a senior money manager at NN Investment Partners in The Hague.
“It also leads to a better growth differential for emerging markets over developed markets.”
Futures signal a 39% chance of higher US rates by year end, down from 48% a week earlier. The first month where traders see better-than-even odds for an increase has been pushed back to September 2017 from March.
Exchange-traded funds that buy emerging-market stocks and bonds are on a nine-week winning streak with a record $12.9 billion invested.
http://ift.tt/2axXJ9C
****************************
WSOMN:
StarChild: Dow Suffers Longest Losing Streak In A Year As Crude Crashes, Credit Craters
by Tyler Durden Aug 1, 2016 4:03 PM
After a multi-decade record 9 up-days in a row, The Dow is now down 6 days in a row - the longest losing streak since August 2015...
The S&P 500 managed to make intraday record highs once again, thanks to a VIX smash to 12.00... but then the machines ran out of stops again...
As investors rushed for the safe haven triple-digit P/Es of FANG stocks...
Which sent Nasdaq higher on the day.. and thanks to an utterly farcical panic bid into the close, Small Caps managed green too...
Read more at : .. http://ift.tt/2adfOxt
WingIt:
Oscar: Wang Dang said last night that Shabibi will be announced soon and then you will see the lower demos- he said the 82nd Airborne Division had a battalion there now ready to clean up the dollars- he indicated this is day to day now. I should have said a paymaster battalion
Oscar: Wang says Shabibi has been in Iraq for quite some time and that they promised to bring him forth very soon and then it would just be a matter of hours
Striker: Just remember Kuwait!!! They took out an entire full page ad & said they would never Reform monetarily & the VERY NEXT DAY they RV'd!!! Just keep believing! Those who do will be rewarded!!!
*********************************
Emailed to Recaps:
DR. CLARKE: BS, BS, BS, BS, BS, BS, BS, BS......Last week of SEPTEMBER. BOOM! Count'm. That's ALL you need to know. That's ALL you need to know.
Dr. Clarke
**********************************
TNT:
Tishwash: Zimbabwe: Switzerland Stands By Zimbabwe
By Christopher Farai Charamba
Switzerland has pledged to support Zimbabwe's re-engagement efforts with international financial institutions while committing to strengthening bilateral relations between the two countries. Speaking during Switzerland's national day recently, Swiss Ambassador to Zimbabwe Ms Ruth Huber said her country was assisting Harare with strategies to clear arrears to international financial institutions.
"We stand ready to continue supporting the process, which we consider a necessary first step on the path to economic recovery and the development of Zimbabwe." She said her country and Zimbabwe were close to signing an agreement on international cooperation strengthening relations between the two countries.
"Our activities show that Switzerland is strengthening its presence in Zimbabwe. We have recently concluded negotiations of an Agreement on International Cooperation and will sign it in the coming months, in order to place our bilateral collaboration in a clear legal framework," she said.
She said her country's regional development programme for Southern Africa implemented through the Agency for Development and Cooperation had relocated to Zimbabwe.
"Through this regional programme we support different initiatives and projects in areas of food security and HIV/AIDS. Different institutions from Zimbabwe benefit from these development projects, alongside other SADC countries such as Malawi, Zambia, Lesotho and Swaziland as well as the SADC-Secretariat in Botswana," she said.
Foreign Affairs Deputy Minister Edgar Mbwembwe, said Zimbabwe appreciated the continued support Switzerland had given in the re-engagement process. "I take this opportunity to acknowledge your country's significant support in the ongoing negotiations between Zimbabwe and the international financial institutions.
"The success of these negotiations will go a long way in enabling Zimbabwe to deal with some of its formidable and surmountable challenges. "It will take a great deal of cooperation and confidence building for us to once again be a competitive actor in the global economy," he said.
Deputy Minister Mbwembwe said Zimbabwe was committed to strengthening the bilateral relations between the two countries. "We are confident that this incipient dialogue will open many opportunities for the mutual benefit of our two countries. Let me assure you of our commitment to continue engaging in fruitful dialogue with the Swiss government.," he said.
The Swiss national day falls on August 1 and was founded 725 years ago
.
LINK
Oscar: Wang Dang said last night that Shabibi will be announced soon and then you will see the lower demos- he said the 82nd Airborne Division had a battalion there now ready to clean up the dollars- he indicated this is day to day now. I should have said a paymaster battalion
Oscar: Wang says Shabibi has been in Iraq for quite some time and that they promised to bring him forth very soon and then it would just be a matter of hours
Striker: Just remember Kuwait!!! They took out an entire full page ad & said they would never Reform monetarily & the VERY NEXT DAY they RV'd!!! Just keep believing! Those who do will be rewarded!!!
*********************************
Emailed to Recaps:
DR. CLARKE: BS, BS, BS, BS, BS, BS, BS, BS......Last week of SEPTEMBER. BOOM! Count'm. That's ALL you need to know. That's ALL you need to know.
Dr. Clarke
**********************************
TNT:
Tishwash: Zimbabwe: Switzerland Stands By Zimbabwe
By Christopher Farai Charamba
Switzerland has pledged to support Zimbabwe's re-engagement efforts with international financial institutions while committing to strengthening bilateral relations between the two countries. Speaking during Switzerland's national day recently, Swiss Ambassador to Zimbabwe Ms Ruth Huber said her country was assisting Harare with strategies to clear arrears to international financial institutions.
"We stand ready to continue supporting the process, which we consider a necessary first step on the path to economic recovery and the development of Zimbabwe." She said her country and Zimbabwe were close to signing an agreement on international cooperation strengthening relations between the two countries.
"Our activities show that Switzerland is strengthening its presence in Zimbabwe. We have recently concluded negotiations of an Agreement on International Cooperation and will sign it in the coming months, in order to place our bilateral collaboration in a clear legal framework," she said.
She said her country's regional development programme for Southern Africa implemented through the Agency for Development and Cooperation had relocated to Zimbabwe.
"Through this regional programme we support different initiatives and projects in areas of food security and HIV/AIDS. Different institutions from Zimbabwe benefit from these development projects, alongside other SADC countries such as Malawi, Zambia, Lesotho and Swaziland as well as the SADC-Secretariat in Botswana," she said.
Foreign Affairs Deputy Minister Edgar Mbwembwe, said Zimbabwe appreciated the continued support Switzerland had given in the re-engagement process. "I take this opportunity to acknowledge your country's significant support in the ongoing negotiations between Zimbabwe and the international financial institutions.
"The success of these negotiations will go a long way in enabling Zimbabwe to deal with some of its formidable and surmountable challenges. "It will take a great deal of cooperation and confidence building for us to once again be a competitive actor in the global economy," he said.
Deputy Minister Mbwembwe said Zimbabwe was committed to strengthening the bilateral relations between the two countries. "We are confident that this incipient dialogue will open many opportunities for the mutual benefit of our two countries. Let me assure you of our commitment to continue engaging in fruitful dialogue with the Swiss government.," he said.
The Swiss national day falls on August 1 and was founded 725 years ago
.
LINK
via Dinar Recaps - Our Blog http://ift.tt/2axY7Fd
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