Zig’s Place

  In Zig's Place 

Zig’s Place Chat and News Early Thursday AM 4-22-21

Zig:  Welcome to zig’s place, a chat room for dinar speculators and others….discuss any topic that you wish here

Butterfly   Thursday 22, April 2021 10:50 A member of the Future Bloc in Parliament, Sarkut Shams al-Din, revealed an upcoming visit by Prime Minister Mustafa Al-Kazemi to the United States of America next July.

Shams al-Din said in a statement that the Iraqi National Agency ( NINA ) received a copy: “The United States of America is in the process of writing a strategy for the Middle East, including Iraq, next month, indicating that the Prime Minister will visit Washington next July to discuss relations, especially the withdrawal of American forces, and what it requires from “The American side will provide it to Iraq after this stage and how relations will be with it, indicating that he will see what this strategy will include with regard to Iraq.”

He added that Al-Kazemi was the first prime minister in the Middle East that US President Joe Biden called after he won the elections and became president of the United States.

He indicated that the Iraqi-American dialogue focused on shifting the tasks of the American army and the coalition forces in general from combat to training, in addition to the responsibility of the camps in which these forces are present to the Iraqi side after completing the task of training them to maintain their security and protect the foreign forces present in them, so that the camp would be purely Iraqi With the presence of a few American trainers.

butterfly  Shams al-Din added that within the dialogue, the Iraqi side pledged to protect American forces before the complete withdrawal and diplomatic missions, and to confront any aggression against them, whether by missiles, explosive devices or others, and foreign forces could not intervene or take any step towards those attacks, stressing that this task will be A test of the ability of the Iraqi army to maintain the security and sovereignty of the country.

Shams al-Din said that the dialogue also focused on the issues of investment and the economy, as American companies began to work in the southern governorates in the field of oil and gas and others, after a hiatus of years.

He continued: “There were different points of view between the federal government and the Kurdistan region during the strategic dialogue, as the region requested that the American forces remain while the first party was committed to the presence of those forces for a specific period, while the American side had a view that its forces did not stay forever. The protection of Iraq must be handed over to the elements of the Iraqi army and their readiness during the next stage in confronting the armed groups outside the law that have negatively affected security and which may cause the perpetuation of the American forces’ stay in the country.

butterfly Thursday 22, April 2021 15:16 The House of Representatives held a deliberative meeting chaired by the First Deputy Speaker, Hassan Al-Kaabi, to discuss important legislation, due to the lack of a quorum, and the date of the regular session will be set at a later time.

butterfly  Iraq Falls Further in World Press Freedom Index 22nd April 2021 in Iraqi Communications News, Politics, Security Iraq has fallen in the World Press Freedom Index for 2021, ranking 163rd out of 180 countries, down one place on last year.

The result puts Iraq behind countries such as Turkey and Sudan, but ahead of Iran and Syria. First place went to Norway, with Eritrea coming last.

Reporters Without Borders (RWB, RSF), which publishes the annual study, said:

“Journalists who dare to report the demands of the protesters are liable to be harassed, abducted, physically attacked or even killed by unidentified militias …

“Coverage of political or religious figures still regarded as untouchable can lead to prosecution or to media bans for disrespecting “national or religious symbols”. Murders of journalists go unpunished because they are not investigated or, if there is an investigation, it goes nowhere, relatives say.”

butterfly  US awards $500,000 to Preserve Badinan Gate in Amedi 22nd April 2021 in Iraq Public Works News During his visit to Amedi, US Consul General Rob Waller announced that the U.S. Department of State has awarded a $500,000 grant to preserve and protect Badinan Gate.

A statement from the US Embassy said the US government is determined to help the IKR preserve and restore its remarkable cultural heritage, and is thrilled to work with our Kurdish friends to achieve that goal.

It added:

“We hope this grant will be a new bridge to further strengthen the ties between the American people and the people of the IKR. Badinan Gate will be preserved for all of humanity, while helping to economically revitalize the community.”

(Source: US Embassy)

butterfly  Iraqi PM orders Cancellation of Overdue Projects 22nd April 2021 Prime Minister Mustafa Al-Kadhimi visited the head office of the National Investment Commission (NIC) on Wednesday and was briefed on the progress and obstacles facing investment in Iraq.

According to a statement following the visit, the PM directed the cancellation of all licenses for investment projects whose completion rate is between 0 and 35 percent, and for which the time period available for project implementation has expired.

A total of 1,128 projects fall into this category.

It adds that the NIC will warn the owners of incomplete project that it will “oversee the implementation of procedures”, and will withdraw investment licenses “in the event that an investor does not adhere to the project completion period”.

(Source: Govt of Iraq)

butterfly  NIC launches Online Portal for Investors 22nd April 2021 The Chairwoman of the National Investment Commission (NIC), Suha Dawood Najar (pictured), has launched the NIC’s new online portal for receiving investment applications.

The new service went live on the NIC’s website — www.investpromo.gov.iq — on Wednesday.

It will allow investors to create their own accounts, make applications and submit all required documents electronically.

Najar said the new system should reduce bureaucracy and corruption.  (Source: NIC)

butterfly  2021-04-22 06:29  Shafaq News/ The Central Bank of Iraq (CBI) sales in the Foreign currency dropped to nearly $198 million today, Thursday.

Shafaq News Agency correspondent said that the CBI sales of Foreign currency amounted to $198,321,000 cut-off price of 1460 dinars, compared to $208,244,000 on Wednesday.

Our correspondent explained that 14 banks and seven brokering companies cashed $7.21 million, while $ 191,111,000 went to boost funds abroad in the form of transfers and credits, with 31 banks meeting those requests.

butterfly   2021-04-22 02:47   Shafaq News/ Gold prices steadied near a two-month high on Thursday, a whisker away from the key $1,800 threshold as the U.S. dollar faltered with easing Treasury yields, while supply concerns kept palladium anchored near last session’s record peak.

Spot gold XAU= was little changed at $1,790.88 per ounce by 0543 GMT, after hitting its highest since Feb. 25 at $1,797.67. U.S. gold futures GCv1 eased 0.1% to $1,791.20 per ounce.

“What’s obviously underpinning the upswing (in gold) is the dynamic in U.S. Treasuries … which is sort of pushing lower in the very short term,” said IG Market analyst Kyle Rodda, adding that a drop below 1.5% in yields could help push gold above $1,800, a key psychological level.

The benchmark 10-year U.S. Treasury yield US10YT=RR was pinned below 1.6%, reducing the opportunity cost of holding non-yielding bullion. The dollar index .DXY held near multi-week lows against most major currencies. USD/ US/

“(Gold) Prices could easily move above the $1,800 level in the next couple of days,” said Harshal Barot, a senior research consultant for South Asia at Metals Focus.

“There is still a lot of uncertainty in global markets. COVID-19 cases continue to be at record highs in a lot of countries and there is this whole revaluation about global growth prospects that should help safe haven assets.”

Market participants also awaited a European Central Bank meeting due later in the day.

Palladium XPD= eased 0.2% to $2,871.33 an ounce, having surged to an all-time high of $2,891.20 per ounce on Wednesday.

butterfly   “Long running tightness in the market is fuelling the metal’s rise as auto demand remains strong,” HSBC analysts wrote in a note, adding that they expect prices to be volatile.

The auto-catalyst metal has surged nearly 25% since Russia’s Nornickel GMKN.MM , the world’s largest producer of the metal, partly suspended operations at two of its mines in late February.

Silver XAG= eased 0.6% to $26.42 per ounce and platinum XPT= slipped 0.2% to $1,211.26.   Source: Reuters

butterfly   2021-04-22 02:16  Shafaq News / The dollar exchange rates dropped in the Iraqi market today, Thursday (April 22, 2021).

  • The Kifah Stock Exchange recorded 147,800 dinars, for $ 100.
  • The Al-Harthiya Stock Exchange recorded 147,800 dinars for 100 dollars.

In Baghdad

Selling prices in the banking stores in the local markets

  • Sale price: 148,250 dinars for $ 100
  • Purchase price: 147,250 dinars for $ 100

In Erbil

Selling prices in the banking stores in the local markets

  • Sale price: 148,000 dinars for $ 100
  • Purchase price: 147,500 dinars for $ 100

butterfly   2021-04-22 07:52

Shafaq News / The Iraqi Parliament failed to complete the required quorum to hold the session scheduled for today, Thursday, for the second time in a row.

A parliamentary source told Shafaq News agency that today’s attendees were less than 80, noting that political forces are pushing towards stalling the sessions to hinder immunity waivers for some lawmakers wanted by the judiciary.

The source indicated that the Parliament’s Presidium cannot lift immunity without voting as long as the Parliament is not within the legislative recess.

Some Parliamentary leaders asked for guarantees that the immunity waiver issue would not be raised in exchange for instructing their MPs to enter the Parliament hall.

butterfly   2021-04-22 06:17  Shafaq News / The State of Law parliamentary bloc, led by Nuri al-Maliki, renewed its objection to the 2021 general budget law, indicating that it had not submitted an appeal to the Federal Court until the moment.

The bloc objected to some articles and paragraphs of the budget law and did not participate in voting on it, due to the dollar’s high exchange rate and not addressing the return of those whose contracts had been canceled, said MP of the the state of law coalition, Ali Al-Ghanimi.

The State of Law Coalition announced earlier this month that it will appeal the 2021 General Budget Law to the Federal Supreme Court.

butterfly   Doug_W GM………………looks like the same old same old BUT improvement on so many aspects of Iraq.

The Boss  Trying to get some info about Warka Bank

Doug_W  its greed that has kept them down

The Boss  Have they closed

butterfly   Maliki still wants his fingers in there causing discourse.

Doug_W  why he hasn’t “Swung” is beyond me

butterfly   Protection…….with all that stolen dinar he has a ton of protection.

Doug_W   what a way to live 🙁

butterfly   He knows no other way but the corrupt way

Zig   The Boss : Hi…Try emailing Tony Breitling about Warka….he may know [email protected]

Zig  I used to listen to Breitling….he talked about Warka a lot if I recall….

butterfly   https://www.iraq-businessnews.com/2014/04/18/warka-may-cost-us-army-millions/ Warka May Cost US Army Millions 18th April 2014 in Iraq Banking & Finance News

Like a replay of the Great Depression, a bank in Iraq went under in 2010, nearly taking millions of American dollars with it.   According to a report from the Washington Times, Iraq’s Al-Warka Bank was already having stability problems when the U.S. began to close all its accounts as part of the withdrawal of troops from Iraq.

The Pentagon’s internal inspector general has said that since the bank was placed in receivership in November 2010, the US Army has been unable to readily withdraw cash.

The estimated loss of $5.4 million is only now coming to light because the disbursing officer in charge of the funds never reported the loss, the Inspetor General said, “because she believed she would recover these funds in the future.”

About $1.1 million has been repaid so far by the bank, inspectors said, but not getting the proper Defense Department debt payment experts involved immediately puts the rest of the cash — $5.4 million — at risk.

(Source: Washington Times)

butterfly  http://www.rs.iq/iraq_news/view/2541 Warka Bank placed under ‘Guardianship’

Iraq’s central bank has reportedly placed private bank, Warka Bank under guardianship to supervise it through insolvency. According to the report from Reuters, Mudher Kasim, deputy governor of the central Bank of Iraq, said: “We gave Warka a chance to have Standard Chartered to be a partner but that did not happen, so there was nothing we could do as a financial authority … but to intervene as a guardian.

He said the central bank would appoint a new temporary administration to run Warka Bank, which would be given a month to appoint an auditor to determine how to restructure it and whether it needs to sell assets to raise capital. (Iraq-Business News)

22 Apr 21, 08:29 AM butterfly https://www.tellerreport.com/news/2019-12-08—after-years-of-bank-collapse–iraq-is-launching-a-company-to-guarantee-depositors-%E2%80%99money-.HyeDYSd5pS.html After years of bank collapse, Iraq is launching a company to guarantee depositors ’money

Butterfly  ……..a lot of information in that article.

butterfly   Good information: https://www.telegraph.co.uk/health-fitness/body/next-take-shower-read/ Before you next take a shower, read this…  In lockdown, our daily routine went down the plughole – but science suggests we could have been getting it wrong all along

Zig If you access this chat via https://my.cbox.ws/ZIGPLACE   You can make the box much bigger by clicking this link  ZIGPLACE – Cbox

Tags: , /