April 21st, 2014
Monday News Summaries
Watermelon Parliament demanding the disclosure of the deputies without excuse
A bloc within Parliament is asking for disclosure of the MP's who have been absent without an excuse.....in other words who has been slacking their jobs....these MP's do not deserve to be reelected.
Central Bank allows for money transfer companies to participate currency auction
According to the CBI they are now allowing money transfer companies to actively participate in currency auctions....an action the CBI states will permanently bring stability to the exchange rate.....the CBI is allowing these money transfer companies to establish direct accounts with the CBI for the implementation of procurement of foreign currency.....this action should be watched to see what if any effect it has upon the auctions. ....
Talabani doctor confirms that the return of President of the country is close
Talabani's return to the Kurdistan seems to be imminent but the final say on his travel will come from his medical team.
The opening of Erbil market for securities in August
More news about the ESX....the Erbil Stock Exchange set to open for business in August of this year.....the exchange already has 56 companies and other entities who will be participating in the exchange as it opens.
Central agrees to open accounts directly for money transfer companies
Again we see another article that announces the ability of money transfer companies to open accounts directly with the CBI to participate in foreign currency auctions.....bringing further stabilization to the exchange rate.
Finance Committee, rest assured: Settlement Agreement with the United States to ensure the protection of the money after the lifting of immunity
There has been a number of questions as to why the Iraqi's would wait until the last minute to try and secure the funds they have in the US in the DFI accounts.....this article points to 2011 that plans were laid to protect these funds at which time they would no longer be protected by the US....the Minister of Finance along with the CBI Governor, Turki, have been coordinating efforts with the Iraqi Embassy in Washington to protect these funds once the immunity is lifted on May 22, 2014.....Iraq is doing the necessary precautions to protect its money while at the same time making arrangements to settle debt obligations as agreed upon and signed by the Paris Club.
Not All Kurds Want Kurdistan Transformed into the Next Dubai
Some Kurds do not speak positively about advancements of the Kurdistan being transformed into another Dubai.....they look at Dubai and see new buildings and new people being brought in...but little has been done to actually transform Dubai itself beyond this....and they see the Kurdistan as going the same route....they see education as the real key to any economic success of the region....they also feel a strong need to protect valuable Kurdistan culture and heritage.
Furat al-Shara describes the adoption of the budget by the end of April /miracle /
So all attempts at coming to some budget resolution have apparently failed.....in that light.....we have a MP stating that it would be a miracle to see the adoption of the budget by the end of April....especially so when everyone is now trying to protect their own selfish interests...meaning to get re-elected to Parliament....the budget is the last thing on their mind.....but the voters should see this as an opportunity to bring new blood into leadership roles that might stand a chance of getting something done, instead of the constant bickering and walking away from responsibility.
KRG PM Barzani warns patience with Baghdad fading
The Kurd patience is starting to wear thin.....I say it is about time.....Barzani announced that they will have their own "solution" if there continues to be no agreement.....salaries remain unpaid or underpaid for Kurd employees largely due to hold ups stemming from the Baghdad government.....the ties with Turkey remain strong at this point for the Kurds....they have exported more than 1 million barrels of oil thru the new pipeline from the Kurdistan to the Turkish seaport Ceyhan.
Turkey will soon have to sell Northern Iraqi oil, says Energy Minister Yıldız
Turkey is saying that storage capacity at Ceyhan is nearing capacity and oil will soon be required to sell. I am sure this is music to the Kurds ears.....as they would like to get some cash in the bank and selling this oil will be one way of accomplishing that....and at the same time thumbing their noses at the Baghdad government. The Kurds say they have a plan to be used if there is no agreement reached with Baghdad.....they have good relationships with Turkey at this time and it sure sounds like they could be pushing forward the sale of their oil.
Morning News Summaries Randy