Chat Room – News Excerpts & Highlights
MadDScout says():Good evening folks welcome to Newstime for Thursday 11May 2017
MadDScout says():I hope everyone had a blessed day
MadDScout says():I want to start tonight off with a report brought to us by From Okie Dinar (Kaleigh)
MadDScout says():Bibliotheca Alexandrina launches campaign to provide Mosul University library with 100,000 books
The Bibliotheca Alexandrina in Egypt has launched an international campaign to provide Ashurbanipal Library of the Mosul University with 100,000 books, within efforts to revive the library destroyed by the Islamic State militants in 2015.
“The first amount of books offered to Ashurbanipal reaches 1,500 titles of books offered from Bibliotheca Alexandrina, the Egyptian national committee for museums and the French institute for documents and social studies,” according to Khaled Azab, head of the BA Central Projects and Services Sector.
MadDScout says():“The Bibliotheca Alexandrina leads an international campaign to provide Ashurbanipal with 100,000 books,” he added.
The Egyptian Library offered Mosul University around 5,000 books before IS burnt the Mosul Library after taking over the city.
Ashurbanipal Library, named after the last ancient Assyrian king, is one of the oldest libraries in the world.
MadDScout says():((100,000!!))
MadDScout says():“The Bibliotheca Alexandrina leads an international campaign to provide Ashurbanipal with 100,000 books,” he added.
The Egyptian Library offered Mosul University around 5,000 books before IS burnt the Mosul Library after taking over the city.
Ashurbanipal Library, named after the last ancient Assyrian king, is one of the oldest libraries in the world.
MadDScout says():The group, which considered sculptures as symbols of infidelity, posted movies showing the members axing down priceless monuments in Mosul, drawing international condemnation. Reports later showed that some antiquities were sold out in online auctions.
Eastern Mosul was retaken in January after three months of battles. Another major offensive was launched in February to retake the western side of the city.
MadDScout says():
http://www.dinarupdates.com/showthread.php?49055-Bibliotheca-Alexandrina-launches-campaign-to-provide-Mosul-University-library-with-10
MadDScout says():Thanks Kaleigh!!
larrykn says():any questions
SRW says to MadDScout():Fantastic on one part and terrible on the other..
MadDScout says to SRW():Yes
MadDScout says to SRW():but Internation help reaching out is the take away
SRW says to MadDScout():Yes Sir
MadDScout says to SRW():Their neighbors want them to succeed
MadDScout says to SRW():As we do
MadDScout says():Here is one on taxes
MadDScout says():Specialists: Activating the tax system is more beneficial than deductions of employees’ salaries
MadDScout says():Number of readings: 576
5/11/2017 12:01:00 AM Baghdad, Baghdad With the adoption of the budget of 2017 and the adoption of the government austerity policy and the imposition of taxes on state employees, did not calm the feelings of resentment and criticism in various popular and economic circles, and with the return to reduce the proportion of those deductions from 4.8% to 3.8% for reasons that are still so vague,
MadDScout says():despite Of the increase in oil imports according to the high oil prices compared to what was estimated in the budget law for the current year, describes economic specialists, those steps without deliberate, and not only “tickle the emotions of the people” means the start of the race for the election,
The citizen is the victim of every financial hardship Or deficit in the budget, while not subject to taxes businessmen and contractors who have large incomes, and this in itself a big mistake.
MadDScout says():(( The imposition of this tax scheme in it’s current form, has created consternation about the governments intent. Reasons to follow ))
MadDScout says():According to economic expert Salama Smisem in an interview with (Al-Mada), the deductions of salary rates and then the cessation of deductions, is one of the steps that have not been subject to study and economic planning, follow up: which clearly indicates the imbalance in how to issue economic decisions,
The most ominous of the justification given to those decisions, wondering whether it is reasonable to stop the deductions is due to the improvement of the financial situation of Iraq because of high oil prices ,? Are we at “taller” for selling vegetables, we sell, we receive funds to go to salaries and wages.
MadDScout says():(( Salama is pointing out there was no study or plan done prior to this schema’s induction, and appears more of posturing for upcoming elections, than it is any substantive tax law.
jxxl says():? We Only listen to the CBI CBI the rest is Politics
SRW says to MadDScout():That’s what happens with a Socialist society.. They have lived in the dark ages for years. But, things are fixing to change and the citizens don’t know how to think that way..
MadDScout says to SRW():That is true
MadDScout says to SRW():they have been in the stages of teaching the people these new concepts
MadDScout says():In this paragraph Salama is saying, there are many conciderations about tax law and how it works when implemented properly. Which he points out as glaring disparity(my phrase) in the governments approach to the decisions it makes, with regard to economic forethought.
MadDScout says():Saying that the most “ominous” part of the decision making process, is whether to reduce taxes in light of higher oil prices. Her follow on statement is akin to “Are we that much better off for selling vegetables(or oil)? as if to say, we sell oil and get paid which goes to pay salaries. Should the price allow us to neglect true economic maintenance? ))
jackflash101st says():When is their elections?
MadDScout says to jackflash101st():If on time towards end of year Sept?
jackflash101st says():Thank you
MadDScout says to jackflash101st():”If so, how can we offer to borrow from the World Bank, and the last of these loans was a few days before the above decision,” she said.
“All this indicates that the policy of” tickling the emotions of the people “has already begun. Pre-emptive propaganda preparatory to the elections and nothing else, explaining: The matter here has nothing to do with the performance of the economy as they claim.
MadDScout says():(( pointing out, if that is the case, why do we bother the World Bank? Saying the loans are only days old, ahead of this presumed affluence.
MadDScout says():Then she slammed the foot down, “this is all for the purposes of wooing citizens prior to elections. ))
MadDScout says():The economist pointed out that this economic policy, especially with regard to the effects of loans and their economic consequences, which will be paid by the next generation and their children will be dire. Significantly, we are working according to the principle of “pay what is in the pocket brings you what is in the unseen”, a concept that does not serve the Iraqi economy and the citizen in the long term “He said.
MadDScout says():(( Pointing to the next generation will be the bearer of the burden to pay back these loans. ))
MadDScout says():After the parliamentary finance committee in previous statements, the financial budget for 2017 sent by the government to the House of Representatives included deductions from the salaries of employees and retirees,
after the budget in 2016 3%, has become in the budget of 2017 4.8%, according to the Committee, the paragraph deduction 3 And the remaining 1.8% of the deduction is added to the other expenses,
“and it does not know where the money goes 1.8% of the intermittent, re-announced on 27/4-2017 the need to deduct the salaries of employees as approved in the general budget for the year Due to the rise in international oil prices Voting on reducing the rate of deduction of state employees from (4.8%) to (3.8%).
suprkat says():To some extent he has a point. Our own children and grandchildren will be paying for our mistakes.
MadDScout says to suprkat():Indeed Kathy
MadDScout says():On the other hand, the economic expert in the name of Antoine, in an interview with (extent), unfortunately, that whenever there is a financial crisis or budget deficit, the government resort to borrowing or deductions, and was supposed to expand the tax container.
MadDScout & Company News Time 5-11-17 Part 2 of 3
MadDScout says():((Pay attention, here comes the consternation))
MadDScout says():But it is not at the expense of the employee and this is a big mistake, but it must be at the expense of entry that is not taxable. Continuing: When we want to apply the system of deductions to expand the tax base must be those who do not pay taxes, such as businessmen and contractors, who do business and have a large entry but not subject to taxes.
MadDScout says():(( There it is! >>>>>Those with the most capacity to pay taxes are not being taxed at present, i.e. contractors and businessmen<<<<<< Those who have large entry(bank accounts) but pay no taxes! ))
MadDScout says():Antoine said: There are direct and indirect taxes and the citizen in all cases is the victim of decisions to apply direct and indirect taxes, there is very little category covered. Mirdafa: In contrast, there is a failure to provide accurate statistics on those covered by the tax system and not covered.
MadDScout says():(( Antoine is saying the people are taxed 9 ways to Sunday(direct and indirect ways). That is why it is a burden on the poor because they are expected to carry the heaviset requirement, while the rich are allowed to be fat cats. ))
MadDScout says():According to specialists, the budget of 2017 included the rate of deduction and taxes on the simple citizen, which means that there is a problem facing the decision-maker in cases that relate to increasing the burden on citizens, such as raising subsidies or reduce salaries or impose new taxes, which comes for several reasons including The miserable achievements and corruption of previous governments.
MadDScout says():(( Not an enviable job to be the guy to raise taxes on the already taxed. Some of this disparity (according to Antoine) is the result of “miserable achievements and corruption of previous governments.” hint hint))
MadDScout says():The House of Representatives voted on 24-10-2016 during its 25th session of the Legislative Chapter for the third legislative year on the adoption of the Budget Law 2017, worth more than 100 trillion dinars and a total deficit of more than 21 trillion dinars.
larrykn says():Any questions
MadDScout says():Iraq offers compensation settlement and Kuwaiti debt against investment
economy
Since 2017-05-11 at 19:08 (Baghdad time) Baghdad Mawazine News The Iraqi Ministry of Finance discussed with the US Embassy Kuwait’s compensation and ways to settle it through investment, noting that it is ready to complete the second review meetings of the credit program with the International Monetary Fund.
MadDScout says():”The ministry has held discussions with the deputy US ambassador in Iraq and the delegation accompanying him to complete the program of credit readiness with the International Monetary Fund,” the Minister of Finance said in a statement, “The ministry is ready to complete the second review meetings of the credit readiness program with the Fund International Monetary Fund “.
MadDScout says():He added that “the meeting also discussed the file of compensation with the State of Kuwait and ways to settle through the window of investment inside Iraq.”
Iraq is still paying compensation to Kuwait due to the Iraqi invasion in 1990, while Kuwait agreed to postpone these compensation during the past two years at the request of Iraq as a result of the decline in oil prices.
MadDScout says():
http://www.dinarupdates.com/showthread.php?49068-Iraq-offers-compensation-settlement-and-Kuwaiti-debt-against-investment
MadDScout says():(( This is attempt by Iraq to offer investment, as a way to settle at least some of the debt to Kuwait.
MadDScout says():Here Iraq also gives indication that it is ready to complete the second review of the “credit readiness program with the Fund International Monetary Fund “. ))
SRW says to MadDScout():The people of Iraq are on Welfare.. At least 70 percent. They don’t understand that the legitimate contractors and Business companies are taking a Huge leap of faith the Monetary reform will revalue in their favor.. Sorry it took so long..
MadDScout says():This is an attempt to speed up the Kuwait file
MadDScout says to SRW():You are fine
MadDScout says to SRW():and that is a good point
MadDScout says to SRW():But the ones who are established and sitting fat needs pay their fair share
MadDScout says to SRW():The thing is, the tax system is not up to international standards
MadDScout says to SRW():They also continue to use the “fil” designation in a day of electronic banking
MadDScout says to SRW():This designation of the “fil” is 30 years out of date
BGG says():Here’s another point..
MadDScout says to SRW():according to economists
BGG says():(so sorry – I had my times wrong tonite )
MadDScout says to BGG():you are good and glad you made it
SRW says to MadDScout():I say Bring it.. The day it happens we will see a Revalue.
BGG says():…”the meeting also discussed the file of compensation with the State of Kuwait and ways to settle through the window of investment inside Iraq.”…
MadDScout says to BGG():Yes
BGG says():two separate items talked about – how to pay back Kuwait (not to be confused with) – their eagerness to settle investments inside Iraq?
MadDScout says to BGG():Correct
MadDScout says to BGG():I may have had a gap in my logic
BGG says():One of the big problems needing dealt with – is they have few mechanisms in place to safe guard investors. Why would the IMF care about Iraqi investors. They don’t – this is referring to OUTSIDE investors. Period.
BGG says ():Really good news – entering final talks – it appears
MadDScout says to BGG():Yes I have that report also
Elilali says():Fellas…. BGG and MadScout… strictly in your personal opinion: Personally I’m scared that Ramadon is coming up, because historically everything shuts down.
Do you guys personally feel that if we don’t revalue within the next week, we’re going to be forced to look at a much later window? Strictly in your opinion. It would seem to me that we will have quie a long delay, if the ball doesn’t get rolling, and fast.
MadDScout says to Elilali():I don’t hold that Ramadan is a holdup
MadDScout says to Elilali():I think it is conditional
MadDScout says to Elilali():As in when they meet the conditions
BGG says to MadDScout():(y)
BGG says to MadDScout():(y)
Elilali says():But correct me if I’m wrong.. politicially speaking, don’t they shut down? As in the Parliament doesn’t meet, etc
BGG says to Elilali():Parliament doesn’t need to Meet.
MadDScout says():International Development Bank (IDB) is granted a membership license to MasterCard International
Number of views 22 Date 11/05/2017 – 19:15
Economy News _ Baghdad: The International Development Bank (IDB) on Thursday held the signing ceremony for the contract for the granting of a basic membership license to MasterCard Worldwide in Baghdad.
MadDScout says():International Development Bank (IDB) is granted a membership license to MasterCard International
Number of views 22 Date 11/05/2017 – 19:15
Economy News _ Baghdad: The International Development Bank (IDB) on Thursday held the signing ceremony for the contract for the granting of a basic membership license to MasterCard Worldwide in Baghdad.
MadDScout & Company News Time 5-11-17 Part 3 of 3
BGG says to Elilali():We talked about this a couple of weeks ago.
MadDScout says to BGG():Sorry
MadDScout says to BGG():did you have something to add
BGG says to Elilali():Nope – all done.
MadDScout says to BGG():I had a tech prob
MadDScout says to BGG():Ok
MadDScout says to SRW():??
SRW says to MadDScout():Mosul is not the Trigger.. Security and Stability are the Trigger.. Sorry..
MadDScout says to SRW():Indeed and my opinion it is a hinge
MadDScout says to SRW():Did that make sense?
MadDScout says():The Chairman of the Board of Development Bank Ziad Khalaf in his speech during the signing ceremony of the contract and attended by “Economy News”, we look through this partnership with international institutions to promote the reality of Iraqi banking and introduce the latest banking electronics and provide the best services to our customers according to the mechanisms and standards set by the Central Bank of Iraq.
He added that the bank obtained the license of the electronic card in 2016 according to the requirements of the Central Bank, noting that our bank is ready to cooperate with banks to serve the revolution of banking technology and the creation of new services to be included within the work of the banking system.
MadDScout says():Lets do news
MadDScout says():Ziad noted that the Development Bank has managed to acquire a large share of the total domestic trade and banking market by having a wide branch network of 13 branches covering most of the major provinces in Iraq, including the Kurdistan region.
Mr. Bassel Al-Tal, General Manager, MasterCard Middle East, said: “The key to the world is to provide a balance of high credit with exceptional spending power and to provide the best international and local services and discounts for MasterCard card users,
” adding that after receiving the card, Daily bookings, travel and entertainment offers around the world, as well as special features for business travelers from hotel and tourist bookings, discounts for purchases and exclusive travel offers to luxury resorts around the world.
MadDScout says():On the other hand, the Executive Director of the Association of Private Banks Ali Tarek, that the private banks to access and use of modern banking techniques and introduce them within the banking business, noting that this step is a major banking achievement to develop banking and introduce modern technology to serve customers.
He pointed out that the Central Bank of Iraq and the Association of Private Banks are keen to encourage banks to use modern technologies to keep abreast of developments in other foreign banks.
MadDScout says():
http://www.dinarupdates.com/showthread.php?49058-International-Development-Bank-(IDB)-is-granted-a-membership-license-to-MasterCard-In
MadDScout says():Mastercard!
MadDScout says():I think economic reform
BGG says():International acceptance and support.
scottiegirl says():YES!
larrykn says to BGG():(y)
Holly1 says to MadDScout():s73
MadDScout says():International is a good word
MadDScout says to Holly1():(handshake)
Holly1 says to MadDScout():s71
Holly1 says to MadDScout():RECALL WHAT I BROUGHT IN REGARDING THE QI SITE LINKING MASTERCARD .. VERY SOON s71
Philidius says():BGG… And your experience and opinion on a scale of 1 to 10 how close are we to International acceptance and support?
Holly1 says to larrykn():OOPS SORRY LARRY
MadDScout says to Holly1():Indeed
larrykn says to Holly1():s61
BGG says to Philidius():That’s a tough one – but we are MUCH CLOSER than we have ever been before.
Philidius says():Okay Thx BGG.
MadDScout says():I have 1 left
MadDScout says():Central Bank: Monetary reserve rose to 49 billion dollars
Date added 11/05/2017 – 19:20 Economy News BAGHDAD, The Governor said the Central Bank on the relationship, on Thursday, about greater reserve currency foreign difficult what was it in the year 2016, adding height to 49 billion dollars..
He said the relationship , that “Central Bank despite lower oil resources during long years by reached to 70 percent could be that keeps and maintains a reserve of foreign currency at the level acceptable under international standards , especially the core criterion for enough reserve is its coverage of local currency , meaning how much we have of Dinar and offset of the dollar”.
MadDScout says():Added the relationship to “the amount of reserve currency difficult foreign located in Bank outweighed the amount of local currency dinar Iraqi people, which is what is within the standard of admissibility of this reserve, it you pay the Monetary Fund International to return Iraq reserve comforting and reassuring by virtue of an agreement ready credit”.
He explained the relationship, that “reserve now ranges between 47 billion and 49 billion dollars, which is higher than the level of the reserve for the year 2016 ″, assuring them by saying “we do not feel worried about this reserve within global indicators”.
MadDScout says():http://www.dinarupdates.com/showthread.php?49059-Central-Bank-Monetary-reserve-rose-to-49-billion-dollars&p=173356#post173356
MadDScout says():No worries!
larrykn says():any questions
MadDScout says():Don’t worry be happy
Holly1 says():s71
larrykn says():all good
MadDScout says():Everyone have a great night and don’t forget to hug a mod
Holly1 says():s59
Philidius says():*Hugging Mod*
Baxter1243 says():Thx Facebook Crew… Great News Time… Love the discussion…. (y)
Holly1 says to MadDScout():TY . s71
wilson6060 says():TYVM for all your hat
wilson6060 says():hard work…lol…
larrykn says():well done Pat
MadDScout says to Holly1():My pleasure Thank you Holly
suprkat says():I had a comment, but I guess I’ll save it
scottiegirl says():Whoo Hoo! Thank you Pat for an awesome newstime!
AAADR says():Thanks for the exciting news time. Very encouraging!
MadDScout says():Glad to help
pacella says():thx you all for the hard work and great job. HAPPY MOTHERS DAY TO ALL
scottiegirl says to MadDScout():You’re most welcome!
MadDScout says to AAADR():And there is a bunch of it
dale says():MadDScout : (y)
MadDScout says to AAADR():They still have work but we see that taking place
AAADR says():The news is getting better and better with each passing day. I greatly admire the efforts.
MadDScout says to AAADR():You are welcome
MadDScout says to AAADR():It is getting gooder
magnetlady says():just gooder and gooder, sounds gooder to me.
AAADR says():Precisely so!
