Thunderhawk: Jahangiri says drastic economic reforms planned for new year
Kerman, March 22, IRNA – The First Vice-President Eshaq Jahangiri said on Tuesday that structural economic reforms will be launched nationwide in the new Iranian year of 1395 (March 20, 2016-March 21, 2017).
‘We will forge single parity rate system in the country this year. This year we will try to restore economic vibrancy and remove impediments on the way of production. The capital market will be the main channel of securing financial resources for mega projects. Significant foreign investment sources will be attracted in the new year and the visit of commercial delegations to the country means the world considers Iran as focal point of development,’ said Jahangiri in an address to the joint meeting of the Resistance Economy Headquarters and the Planning Council in the Governor General’s office in Kerman Province.
He said special attention will be paid to checking the inflation rate, economic vibrancy, employment, attraction of foreign capital, single parity rate system and active contribution of the private sector to investment.
He noted that national economy should be immune to foreign shocks, i.e. economic events worldwide.
He referred to designation of the new year by the Supreme Leader of Islamic Revolution Ayatollah Seyed Ali Khamenei as the year of `Resistance Economy, Action and Implementation’ and said performance of various organs in line with economic performance will be verified in the new year.
He concluded that the director acting well in line with the goal will be awarded while the one with poor performance will be dismissed.
http://www3.irna.ir/en/News/82009835/
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Mountainman: Awesome Article Bro……IMO……..We haven’t Seen the [Dive] Yet…..However The Market Weather Forecast Appears to be “Set” on Course….=(PLANNED)….LOL….Of Course…..and NEW VALUES will be the Result…….Yet Market Uncertainty is the “CONSENSUS”……of Most Market Traders……Buckle Up…..IMO…..It’s gonna Get Bumpy Real Soon……{Summer} has been a Major Theme (Word) for Economists…..FYI…..(8)
Thunderhawk Backdoc Alert: April will decide the market’s fate
When we turned bullish in mid February, many were looking for the market to crash. While many of the bears are now capitulating and turning bullish, the potential for the market to drop to the 1700s on the S&P has not completely dissipated, and the next several weeks will tell us if we are heading to 2500 from here, or if we have to drop down to the 1700s before we rally to the 2500 region.
While the market did not follow through early this past week in the most bullish expectation I had, at no time have we broken support, and we ended the week striking the 2050-2060 target I wanted to hit.
Without any break of support, I still see the potential to head up to the 2080SPX region as early as this week. As usual, the question is the path. As long as the market remains over 2035SPX, the path can be a more direct one, which can see us strike 2080 by the middle of the week. However, if we break 2035SPX early this coming week, then we will likely drop to retest the 1995-2005SPX support region, and as long as it holds, we will then likely rally up to the 2080SPX region to complete wave iii off the February lows.
Should we actually rally up toward the 2080SPX region, I would expect to see us drop back to at least the 2027SPX region in a wave iv, as outlined in the green count on the 60-minute chart linked below. As long as the market remains over 1995-2005 support on all pullbacks into April, that will set us up to challenge the prior all-time highs in the SPX. But I do not believe we will breach the 2015 market high by much, if at all, which will then lead to a wave (2) pullback in a few months from now, which if it holds support, sets us up to rally to 2500-2600 in the SPX going into 2017.
Alternatively, if the market breaks below the 1995-2005SPX support at any point in time over the next month, it will be a strong signal that the market has not moved back into a long-term bullish posture, and I would expect that we will be testing the 1700 region later this year, as we continue within primary wave 4.
I warned in January and February of this year that we have a potential setup for a global melt up in emerging markets, commodities and U.S. equities, and much has followed through as expected so far. While we still have much to do on the upside over the next two months to confirm this case, by the summer, we will know if the market is setting up for a major bullish move into the second half of the year, or if we will be mired in a primary wave 4 into the fall, with the 1700’s still being seen before the global melt up begins.
http://www.marketwatch.com/sto…..2016-03-21
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Mountainman: Well……BRICS and It’s Members are Alive and well in the NEW REALITY…..INDIA will benefit w/Major Deals Already In Place…..Their Economy is going to have Major gains…..their Pharmaceutical Industry is going to be Huge….IMO…..Yesterdays Post on this Very Subject…..Unveils that…….Also ****NOTE****the Last Paragraph……New Rules Are Already Reigning In Over Leveraged/Bad Loans w/ these BANKS…..Time Will Tell…..”IF” they Learn some Lessons…..Hmmm…….IMO
Thunderhawk: Iran banks queue up to open branches in India
New Delhi, March 22, IRNA – Indian bank executives say Iranian and Pakistani banks have lined up to open branches in India as bilateral trade was of interest for the banks, according to daily Business Standard.
The officials say in the case of Iran, the lifting of sanctions has paved the way for direct relations.
Three Iranian banks, Bank Pasargad, Saman Bank and Parsian Bank, are in queue, according to information made available to the Rajya Sabha.
Two banks from Pakistan, MCB Bank and United Bank, have sent proposals to the Reserve Bank of India (RBI) for opening branches in the country.
Bank of Montreal (Canada), ING Bank (the Netherlands), and Busan Bank (South Korea) have also sought permission from RBI to set up branches here.
Recently, the Islamic Development Bank (IDB) said it would initiate talks with RBI to allow it to introduce Islamic financing, raising of capital in accordance with Sharia law.
This comes at a time when foreign banks in India have been reducing their footprint because of trouble in their home markets and rising competition from Indian banks.
Rising bad loans have forced some foreign lenders to slow down. Standard Chartered Bank, the largest foreign bank in India in terms of branches, has decided to reduce its unsecured retail and corporate business in the country.
http://www3.irna.ir/en/News/82009744/
