April 2nd, 2014, 12:04 pm
Wednesday News Summaries
Central contracted with a company to manufacture the global population alloys to sell to citizens
The CBI has contracted with a major international company to manufacture ingots of pure gold (5 grams to 1,000 grams) for sale to the public....the total amount of gold to be minted will be up to 11 tons depending on the demand by the public.
Central raises for protection of Iraqi funds in U.S. banks
Come May 22, 2014 the CBI will take over responsibility of the DFI money deposited at the Reserve Bank of the US.....this is the 5% discounted amount for Kuwait that was deposited for every barrel of oil sold by Iraq.
Iraq will hold a meeting of the 31 joining the World Trade Organization
A meeting was held on the 31st of March to discuss the results of the WTO meetings and workshops from March 17-21, 2014 in Geneva where Iraq's potential accession to the WTO was discussed in-depth....they discussed the memorandum of Iraq's foreign policy of 2004, identifying ministries and agencies responsible for the update.....they discussed laws and regulations that needed to be completed in the next time frame and submitted to the WTO....there was guidance from this meeting to re-activate awareness and publicize the WTO, especially at the private sector level.
Central Bank calls for not signing or writing on banknotes
The CBI has asked for people not to mark on or deface banknotes....sounds like the everyday citizen takes it in the shorts when they turn in torn or damaged banknotes, getting back something less than what they gave to the state owned banks....fuel stations no longer accept torn or damaged banknotes for fuel.....something of interest in this article states that some government departments are forced to pay their employees in smaller denominations....not exceeding 250 dinar notes....this sounds to me to be more of the MR process and lifting of the 000's from the streets and hands of the common Iraqi citizen!!
Parliamentary sources: Iraq on the verge of bankruptcy and stockpiling enough for one year
Some "unnamed" sources claim that Iraq is on the verge of bankruptcy due to the Iraqi economy and monetary policy being in deplorable condition especially after the CBI has been stockpiling cash.....they still insist on pointing fingers to Dr. Shabibi for his "alleged" mishandling of things while the governor of the CBI.
Special / Iraq's money in U.S. banks and companies without protection payable touched Doors
The Minister of Finance has announced that Iraq has decided not to pursue continued protection of Iraqi funds in US banks....choosing instead to settle debt with creditor countries per the Paris Convention.....it is believed that the US government is saying it can no longer protect Iraqi funds and is urging Iraq to settle up with creditors on all sides....Iraq's lawyers will take necessary steps to protect their funds after the lifting of the US protection.
Advanced technologies for processing, sorting and assessing banknotes
Advanced technologies by international company G & D are being established for processing, sorting, and assessing all banknotes at every type of cash center....they meet legal stipulations, market demands, and security requirements....this includes processing, packaging, and in the case of the CBI....destroying of banknotes.
Giesecke & Devrient Wins Another Major Contract from Iraq
Iraq has let a contract to Giesecke & Devrient (G & D), to supply what they call an "end to end" solution for electronic personal identification.....G&D will provide the full spectrum needs related to these ID cards for a period of at least 5 years.....the cards are ultra-modern, offering the highest degree of security....these "smart cards" will even have the option to integrate various biometric features within them....supply of these cards is scheduled for 2014.
Iraqi president's son: Talabani in very good condition, but it took time enough for treatment and not rush his return
Talabani has been improving health-wise over the last year, but still has a ways to go....he is considering returning to Iraq if he can get approval of his doctors.....according to his son, Talabani has sacrificed much of his life for the good of the Kurdistan and it should only be right to give him time to heal....he is not expected to return to Iraq though before the elections.
Statistics [where]: central bank sales in dollar auction of more than 4.6 billion in the last month
The CBI recorded its highest monthly auction sales since September 2013 with an amount of $4.6 billion dollars in March.
Urgent .. parliament to postpone its meeting tomorrow, Thursday
The title is a bit deceiving....the session of Parliament today was postponed until tomorrow.....looking for a quorum it would seem....needing the State Law coalition to be there.
Mura'bi Tayfur responding to the demands of the Presidency and the completion of reading the budget
Again, due to a lack of a quorum, it appears the State Law coalition will not show up if the budget is on the agenda at the moment.....so today's Parliament session was a bust.....and sounds like tomorrow's session could be in question if the budget is again on the agenda....what gives....get this done....already.
Araji: We collected signatures  deputy to the inclusion of the budget and the state of law abstinent deputies from entering the parliament session
Even with a collection of 50 signatures from MP's to include the budget on the agenda for today's Parliament session it amounts to nothing but a waste of time since the State Law coalition refuses to show up with the budget on the agenda....is this more of Maliki's doing I wonder.
Erbil Stock Exchange starting the end of 2014 to promote investment in the country
The Erbil Stock Exchange is announcing that it will be open in the fourth quarter of 2014.
Single market and the delay in the budget and the approaching elections behind the decline in the stock market index
Dr. Saleh states that the stock market performance is being triggered by the delay of the budget and the upcoming elections at the end of the month.....the total amount of shares traded only amounts to 3% of the GDP of Iraq....a rather small amount when compared to other countries.
Here is the news thus far today Family.....enjoy Randy