May 2nd, 2014, 10:32 am
Friday Morning News Summaries
Central Bank: Delete the zeros from the currency is linked to the stability of the political and economic situation
Interesting news out of Turki and the CBI this morning....especially since it is a Holy day for them....he is quoted as saying the lifting of the 000's will not happen unless there is a need from a political and economic situation in Iraq.....that is a pretty bold statement from him that he sees "both" a political situation AND an economic situation being the cause of lifting the 000's.....well if the election results put them in a bind like in 2010....AND the fact that they don't have a budget for 2014 STILL....IMO....that sounds like the perfect timing for him to take this action.....he also denies that this restructuring of the currency would take place next year.....oh that sounds good to me. ....
Statistics [where]: central bank sales in dollar auction of more than $ 15 billion during the first third of the year
The CBI sale of the dollar in their auctions amounted to more than $15 billion dollars during the first three months of 2014.....this is up $1 billion dollars from the last three months in 2013.....these sums were sold at a stable rate of 1166....while the dollar sold on the market at 1220 benefitting dinars per dollar.
Turkey: Oil at Ceyhan Ready for Market
Turkey is sitting on 1.5 million barrels of Kurd oil being stored at the seaport of Ceyhan.....the Turkish government says they are ready to sell this oil today regardless of the situation between Baghdad and the Kurds on any agreement.....the problem the storage tanks face is they are almost to capacity (2.5 million barrels) and as a result some oil needs to be moved out....it will be interesting to see the response from the central government in Iraq.....or if they are considered a "lame duck" will they really care at this point....or....have they truly reached an agreement with the Kurds over the budget and HCL issues as articles yesterday pointed towards.
Experts: Kurdistan oil money will be deposited in Turkish banks taking advantage of the post-election period
Barzani has stated that the Kurds will be selling oil in Turkey starting today....and they will be depositing the revenues from the oil in Turkish banks.....both the Baghdad government and the US are against the Turkish deposits....the US wants the money in the DFI account with JP Morgan.....this will definitely be an economic benefit for Turkey to receive these deposits.
The Kurdish Muscle in Post-Election Iraq
Initial election results are claimed to not indicate a clear majority by any party or bloc from the elections held on April 30....as a result the Kurds are expected to be ready to talk about alliances as long as they have the right to produce, export, and sell their oil....at this point though the best option for the Kurds would be to gather their 5 major parties to form a strong alliance....otherwise they stand to be exploited by who ever gets the PM job.
Kurds face uncertainty over Iraqi presidency
With Talabani ending his term as Iraq's President there is question as to what the Kurds need going forward, some feel they need another Kurd as President....while others feel they would be better represented with a Kurd as Speaker of the Parliament....again, why not form a Kurdistan alliance with their major parties and go after the PM position....just a suggestion.
Office: counting begins in 60 centres in Iraq
The vote tallying started in earnest on Friday in 60 centers across Iraq.....it should take 3-4 days to finalize the "regional" counting, in the 60 centers...then the numbers are sent to the National Center in Baghdad to be added with others.
Sharp disagreement between Maliki's coalition and the Electoral Commission
A source in the Electoral Commission claims they have received a videotape that indicates that distribution of residential lands by Maliki was clearly extortion....also that members of the State of Law coalition threatened citizens openly and extorted the poor for their votes....if this is found to be true, it doesn't sit well for Maliki.
Turkey: will be transferred to northern Iraq oil stored in Turkey in preparation for selling it
Turkey is ready to sell 1.8 million barrels of Kurd oil starting today and should have it sold within 3 days to a week....Turkey is looking to export 300,000 barrels of oil per day from what the Kurds are shipping to the seaport Ceyhan.
An expert in economic affairs likely occurrence of a large turnout on the purchase of gold in the coming days to lower its price globally and locally
This article first surfaced a couple of days prior to the elections....here it is again.....economists are saying that Iraqi's may go after the purchase of gold now that the price has fallen somewhat....this to keep better tabs on their money as an investment.....even as the falling gold prices creates a state of uncertainty in the economy which could lead to recession....their appetite for the gold may very well increase.
Khandan - Ali Naji
Stressing that this article is based on exit polls.....so don't necessarily get all excited about it just yet....but they are predicting Maliki's Stat of Law coalition captured the most votes in the April 30 election.....next was the Sadrist bloc, then the Citizen bloc, and fourth was the Kurdistan Democratic Party......
But now will come the shoving and jostling for who can put together the best and greatest alliances....
To see who truly ends up on top of the heap.
News Summaries for early Friday morning Randy