Millionday News 7/7/15

by **RoyBoy** Wed Jul 08, 2015 5:44 am

Millionday: Iraqi Ministry of Trade with a delegation from the US embassy in Baghdad, Iraqi negotiators development skills to join the World Trade Organization as well as the development of economic and trade relations between the two countries.
According to a ministry statement received by the agency all of Iraq [where] a copy of it, "Hashim Mohammed Hatem, Director General of the Department of trade and economic relations in the Ministry of Trade met with Deputy Economic Counselor at the US embassy in Baghdad, was discussed during the meeting in the development of trade and economic relations between the two countries."

Millionday: NOTE -- THE US AND IRAQ MET TODAY TO DISCUSS THE DEVELOPMENT OF TRADE WITH BOTH AND WTO ENTRY

Millionday: WHOOPOW

Millionday: He stressed Hatem according to the statement that "During the meeting, emphasized to overcome all the problems that hinder the work of American companies in Iraq, in addition to the development prospects of cooperation between Iraq and the United States with respect to Iraq's accession to the World Trade Organization and the development of skills and abilities of Iraqi negotiators in this aspect." The official stressed in the Ministry of Commerce, "the need for the active participation of US companies in session 42 of Baghdad International Fair of what to this review of a positive effect on activating cooperation between the two countries in the field of investment and trade.

Millionday: WOW -- WOULD HAVE LOVED TO BE A FLY ON THAT WALL

Millionday: NOTE -- THEY STRESSED THE NEED FOR THE US TO HAVE ACTIVE PARTICIPATION IN THE NEXT TRADE (INTERNATIONAL) FAIR -- WOW

Millionday: For his part, Deputy Economic Counselor at the US Embassy for "his pleasure to participate in the next session of the Fair Baghdad International stressing that he would approach the concerned authorities for the purpose of taking the necessary measures, "stressing at the same time on the" ready Economic Section at the Embassy of the United States of America the sustainability of cooperation and work with the Ministry of Commerce and the strengthening of relations between the two parties "

Millionday: SO THIS IS GREAT TO SEE >>>"stressing at the same time on the" ready Economic Section at the Embassy of the United States of America

Millionday: WHOOPOW

puffdragon: Are they referring to the upcoming fair during Ramadan?

Millionday: THEY STATED SESSION 42 SO I AM NOT SURE -- WILL RESEARCH IT FOR US THOUGH
Millionday: THAT WOULD SEEM A LITTLE QUICK BUT WE CAN HOPE SO --
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Millionday: Governor of the Central Bank of Iraq and the Agency on the Keywords, the Federal Court to accept the appeal in private financial budget law materials Bank as "supports the independence of the Bank and deported to influence its policies and decisions."

Millionday: NOTE MORE FROM CBI ON THE POLICIES

Millionday: Keywords and said in a press release, "The foreign currency sales (the dollar) is not an option and are not the business process or coverage of the activities of a commercial, but is in the Iraqi situation, as is the case in countries which controls the export of foreign currency and a monopoly by virtue of the nature of its oil resources such as States, the process of replacing the existing Iraqi dinar to the dollar in trading in order to provide the Ministry of Finance dinar against the dollar, which is received by oil sales, which do not need even need the Iraqi dinar to finance the general budget. "

Millionday: NOTE -- THEY ARE SAYING THAT THEY HAVE TO GET RID OF THE US DOLLAR AS ANY COUNTRY NEEDS TO GET FOREIGN CURRENCY OUT OF THE COUNTRY PER POLICY SO THEY CAN SUPPLY THEIR OWN -- THE DINAR IN THIS CASE

Millionday: NOTE -- REMEMBER THE AMOUNT PER ARTICLE 50 WAS 75 MILLION --

Millionday: Keywords and added that "determining the dollar sales ceiling means the result determine the amount of the taxpayer dinar general budget," explaining that "in the case of specifically taking, as stated in the General Budget Law, it means a shortage and a large decrease in the amount required to cover the budget expenditures of the dinar."
And that "if the central bank sold $ 75 million a day as set out in the budget law, it means that the central bank will sell annually the equivalent of almost 22 trillion dinars, while operating expenses (JD) about 70 trillion dinars."

Millionday: NOTE -- THE CIRCUMSTANCES IN OTHER WORDS WILL DETERMINE THE AMOUNT SO CBI NEEDS TO BE ABLE TO DETERMINE FOR IRAQ`S ECONOMIC HEALTH

Millionday: He explained Keywords, that "this fact is clear to many who call invitations determine the dollar sales ceiling, as well as a lack of understanding the role of the central bank and its mission to stabilize the exchange rate and public prices, which require high and persistent in the quantities sold by the bank flexibility."
He pointed out that "there is a big difference in the exchange rate between the official rate and the parallel market price is paid by the citizen and the economy, investment and hurt huge profits in the pockets of greedy and malicious, and can not curb all this only to control the quantities beyond a shadow of those dangerous phenomena."

Millionday: NOTE -- CBI HAS TO BE ABLE TO CONTROL THE RATES AND THE PARALLELS

Millionday: Keywords He continued that "the Federal Supreme Court's decision to accept the appeal submitted by the Central Bank in the materials, which included limitations and orders to the bank, came accordance with the Constitution and the law of the central bank," saying the court's decision "constitutes a great importance because of its impact in promoting and supporting the independence of the Central Bank and the dimensions to influence policies and decisions, and this independence is not a matter of form but is the basis of the requirement to enable the central bank to achieve its tasks, particularly in monetary policy by the diversity of nature on the tools and flexibility orientations. "

Millionday: SO AS WE SEE -- CBI IS EXPECTED TO DO THEIR JOB SO THEY NEED TO BE ABLE TO USE THEIR TOOLS FOR THE MONETARY POLICY

puffdragon: Is this Alaqs incompetence speaking or does this have meaning ?

Millionday: THIS IS FOR CBI AS A WHOLE SO PERMANENT CHANGES PER FEDERAL COURT --

Millionday: HE HAS NO INPUT REALLY -- THIS IS MORE TO DO WITH THEIR POLICY ALLOWANCE

Bax: I still dont understand how they are getting rid of the dollar..when yesterdays auction was the highest ever of over 225 million....

Millionday: THEY ARE GETTING CHANGING FOR DINAR (BANKS)

Bax: Im glad you understand it.... so I will take your word for it that this is good

Millionday: ITS IN COUNTRY -- SO IT IS CONFUSING -- THIS IS FOR OIL SALES WHICH ARE DONE IN US DOLLAR
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Millionday: NOTE -- THIS IS AMAZING AND SHOWS THE ROAD OF RELATIONS THEY ARE HEADED TO -- REMEMBER THE FIRST REPORT ABOUT THE US AND IRAQ

Millionday: al-Hashimi at a time when the House of Representatives and awaits the arrival of draft legislation on the central bank to comply with US tax law (Vta) before the middle of next September, an economist called the Parliamentary Finance Committee to conduct a thorough study on officially join Iraq to this agreement being subject Michaba and needs careful and prudence on it.

Millionday: NOTE -- IRAQ INTENDS TO COMPLY WITH UNITED STATES' TAX LAW (INFORMATION ETC)

Millionday: defines "Alvta" which is an acronym for "Foreign Account Tax Compliance Act" as measures limiting evade US citizens from paying taxes to the Government of the United States, and entered several countries in this Convention recently.
In this regard, said the economist d. The appearance of Mohammed Saleh told the "morning" that there thousands of Iraqis are now holding US citizenship and most of them are making an income in Iraq. Some of them owns properties or a pension or other and this is a problem if approved officially enter Iraq to the Convention "Vta."

Millionday: NOTE -- THIS MAINTAINS THE HIDING OF FUNDS WITHOUT PAYING TAXES OBVIOUSLY

Millionday: and of due to the central bank to submit draft legislation between Iraq and the United States on tax compliance with US law (Vta) for submission to the House of Representatives in the coming period to decide before the fifteenth of September 2015 according to an earlier statement, the Ministry of Finance.
and questioned the benefit of all the Iraqi which will supply side US accounts of these citizens, it is assumed that Iraq is cooperating with the US Treasury in this regard as one of the international cooperation, noting the difficulty of controlling the accounts do not have the bank accounts in banks, as the government would be unable to bear so the burden under the circumstances taking place in the country.

Millionday: NOTE -- SO THE PARLIAMENT IS AWAITING THE WRITTEN LAW AND IRAQ PLANS TO COMPLY

Millionday: He favored by banks Iraqi request for a written from customers who Iromon open an account they have no access to US citizenship, pointing out that Iraq has a strategic framework agreement with the US side, a comprehensive convention for all economic, military and administrative aspects and others, especially the financial side where Iraq has a relationship with the US Treasury, and I think they will face another problem with all countries, including Arab and not with Iraq only in the application of tax compliance with the law of the fact that There are no free migrants and dual nationality country.

Millionday: NOTE -- REQUIREMENTS WILL BE APPLIED ON BANK ACCOUNTS PER RELATION WITH US TREASURY -- SMILE

Millionday: In the opinion of experts that Iraq's accession to the Vta agreement "presented by the secret violation of citizens' accounts in local banks, calling that this law (or the Convention) came to the rescue of US Treasury heavily indebted while the Iraqi constitution allows citizens to own more than one nationality as well that this law - in their view - makes countries like collector of American taxes free of charge and without charge.
He said the benefit to the need to examine the Parliamentary Finance Committee the subject full length as well as he needs to international cooperation and financial relations with the United States accurate and detailed, indicating the need of the Iraqi reforming the tax system.

Millionday: NOTE -- THIS IS DUE TO DUAL CITIZENSHIP

Millionday: There is a need to resolve this overlap in case it is decided to join officially because he will cause a large part of the investment movement within the country and determine the responsibility of duplication calculated by the tax in this case, considering that Iraq is free of double taxation country.
Salih stressed, that the study of the subject in the Finance Committee and cooperation with the United States is important but it should be at the same time so rational as well as the Americans want to international cooperation and the protection of their interests Balmemkn I support the Finance Committee to give its opinion to this topic and orientation and dimensions being is the core in the debate on the subject and show its recommendations as a watchdog for government departments.

Millionday: NOTE -- THIS IS TO SAVE DOUBLE TAXATION -- WOW SOUNDS LIKE A MESS TO UNDERSTAND FOR BUSINESSES -- HOPE THEY MAKE THIS AS SIMPLE AS POSSIBLE

Millionday: NOTE -- THERE IS ANOTHER REASON AS WELL THAT THIS IS SO IMPORTANT

Millionday: He added that this cooperation for the American side as cooperation in the fight against money laundering, where they are preparing input tax evasion as an introduction to money laundering and I think that legislation combating law money which recently admitted laundering will help Iraqi legislator frequently in this area.
It is worth mentioning that the Finance Minister Hoshyar Zebari had discussed with the managers of bank and insurance companies and the taxes in the Ministry of Finance General and the Director of the Iraqi Commercial Bank earlier tax compliance with the United States of America Agreement (Vta ).

Millionday: NOTE -- ALSO IS VERY IMPORTANT TO SEE THE RELATIONSHIP DEVELOP AS WELL -- SMILE

Millionday: According to a ministry statement issued last February that he discussed the tax compliance with the United States of America Agreement (Vta) concluded between the United States and most countries and related tax compliance of the accounts of foreign to provide tax information on people who hold US citizenship.
The economic US sources said that law enforcement will not pose a threat to Arab financial institutions, as the rejection of these financial institutions to the law will lead them to the local downturn, where you will lose the ability to deal with foreign counterparts, or even with local financial institutions that comply with the law.

Millionday: NOTE -- THIS IS OBVIOUSLY SHOWING US THE GLOBAL RELATIONS AND BANKING ETC THAT THIS IS SUPPORTIVE OF -- HUGE

Millionday: Some countries have decided to make a deal banks with US IRS directly, what makes their financial institutions subject to "Alvta", or face sanctions, which the United States will take against banks and countries that do not reveal private accounts Americans have deduct 30 percent of their accounts of US banks, and the last was prevented from dealing with them.

Millionday: SO THIS SHOWS IRAQ`S COMPLIANCE -- HUGE NEWS OBVIOUSLY

1glen: Everyone needs to read about FACTA. It will affects you especially if you are planning on having investments or a residence in another country. Know the law and rules before you are blindsided because you did not know the law. Ignorance is no defense in law.

Millionday: GOOD POINT -- IT IS PASSED AND IS AN IMPACT TO EVERYONE -- THANKS GLEN
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Millionday: a delegation from the Bar Association President Fuad Masum ladder project attorney with the law infallible stressed the importance of the role of lawyers in supplying the Iraqi political movements known personalities, as well as their role in the courts and the march of truth and law enforcement.
According to a presidential statement received by the agency all of Iraq [where] a copy of it, that infallible "received at the Peace Palace in Baghdad Tuesday and a delegation from the Chairman and members of the Bar Association, where he listened to a briefing by the President of the Bar Mohammed al-Faisal on the role of lawyers and the problems that hinder the work of the union and the preservation of the legal profession in the country, and ways to develop the performance of this important segment and enhance the status of the lawyer in the community

Millionday: NOTE -- THIS IS HUGE WITH THE DEVELOPMENT OF THE FEDERAL COURT ACT AND THE LEGAL SYSTEM ENTIRELY --- THE CHANGES THAT HAVE OCCURRED IN IRAQ ARE HUGE AND OBVIOUSLY THIS IS ANOTHER HUGE EXAMPLE

Millionday: " The statement pointed out that "Upon receipt of President infallible draft law Law of the visiting delegation, expressed readiness to study this law and support for approval in the House of Representatives service for lawyers and to secure their legitimate rights, stressing the need to make all possible efforts in order to strengthen the role of the lawyer through the open development courses with professionalism and attention to law schools in Iraqi universities

Millionday: SO OBVIOUSLY THE EDUCATIONAL CHANGES IN IRAQ HAVE TO BE EXTREME TO SAY THE LEAST BUT THEY ALSO ADDRESSED THE CHANGES IN THE EDUCATION FOR LAW AND ALL THE ROLES IN IRAQ --

quicktolegit96: On a scale 1 to 10 how are you feeling

Millionday: I AM EXCITED -- I DONT KNOW HOW TO PUT IT ON A SCALE BUT THE HUGE NEWS WE HAVE READ IN THE LAST FEW DAYS ALONE HAS BEEN VERY EXCITING
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Millionday: Center Brief for the Iraqi Media Network (IMN) - told the commander of the Salah al-Din Operations Major General Juma stubbornness Center Brief deaths of more than 900 Daasha through Baiji battles.
He's stubbornness (IMN) said that "the joint military units the popular crowd and managed by editing the operations of Baiji, killing more than 900 Daasha as well as the burning of dozens of wheels and the dismantling of hundreds of improvised explosive devices and booby-trapped houses."

Millionday: NOTE -- GREAT SUCCESS IN BATTLES

Millionday: NOTE -- YESTERDAY THEY ANNOUNCED THOUSANDS GOING HOME IN IRAQ

Millionday: He pointed out that "Peggy spend has become a graveyard for terrorists and all those who try to desecration of the homeland, stressing the loss of the ability to Daash confrontation and exposure to military cuts in all breakers responsibility."
The joint forces and the popular crowd raised the Iraqi flag over the center of Baiji after the expulsion of terrorists from him.

Millionday: ANOTHER FLAG RAISED -- WHOOPOW
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Millionday: WHAT WE LOVE HERE AT DINARUPDATES.COM>>>PROGRESS

Millionday: Center Brief for the Iraqi Media Network (IMN) - The steps taken by the Government of Haider al-Abadi, who voted on by the House of Representatives on the ninth of September 2014, a very large so far in terms of the number of files which constituted a major obstacle to the country, whether they are on internal or external, and between the security situation and the relationship of Iraq to neighboring countries and displaced file files, as well as the oil agreement entered into by the government with the Kurdistan Regional Government.

Millionday: NOTE -- THEY ARE MAKING PROGRESS WITH NOT ONLY THE POLITICAL AGREEMENT BUT THE OIL AGREEMENT AS WELL -- WHOOPOW

Millionday: The Iraqi Council of Ministers decided on the second of the month of December the end of last year to approve the oil agreement between the federal government and the Kurdistan Regional Government, which states that the Iraqi oil belongs to all Iraqis, and the Kurdistan region to hand over at least 250 thousand barrels of oil a day to Federal Government for the purpose of export, and also includes the export of 300 thousand barrels per day by the federal government of the province of Kirkuk fields through the oil pipeline in the Kurdistan region, and allocating a percentage of federal land forces of the Iraqi army allocations to the Peshmerga forces, according to population ratio as part of the Iraqi security system.

Millionday: NOTE -- THERE HAS BEEN A REPORT RECENTLY AS WELL THAT THE PIPE LINES ARE VERY CLOSE TO COMPLETE (OIL)

Millionday: But this agreement has recently been subjected to vibration because of the demands of the high ceilings and the region violations committed by them continue to export oil through Turkey.
These actions did not prevent Kurdish political home of the fear of the collapse of this agreement, especially in light of the financial crisis experienced by the region, who borrowed large sums of money from companies during 2014, to ensure the salaries of its employees, as stated by the President of the Government of the Territory Nechirvan Barzani.

Millionday: NOTE -- THIS IS TALKING ABOUT THE MOST RECENT AGREEMENT THEY ARE WORKING ON -- VIBRATION -- SMILE

Millionday: And across the Kurdistan Regional Parliament Member improve Kolmira for fear of the collapse of the oil agreement between Baghdad and Erbil.
He said Kolmira's (IMN) that "if the parties to the insistence of their positions, the oil agreement will collapse and we will return to the beginning point of the problem."
While political analyst Khalil Ismail pointed to the existence of external pressures on this file is pushing for its dissolution, but he did not hide his fear of exposure to the collapse of this agreement if it does not reach everybody effective solutions.

Millionday: NOTE -- OBVIOUSLY THEY HAVE HUGE PRESSURE TO COMPLETE THE AGREEMENT

Millionday: He stressed's (IMN) "the need for the parties to reach agreement Ardehma oil agreement and moving forward."
While the Patriotic Union of Kurdistan (PUK) member Salwa Jabr stressed the need to restore confidence and credibility between the parties in agreement to move the oil and prevent it from collapse.

Millionday: She said Jabr's (IMN) that "the region demanded Baghdad agreement on the province's budget, as well as resolve the issue of the salaries of the Peshmerga," indicating that "the region from Baghdad awaiting the implementation of these demands to turn to the implementation of its obligations."
The head of the Kurdistan region Massoud Barzani said in previous statements that the implementation of the agreement requires the commitment of both parties, and if Baghdad did not send the share of Kurdistan, the region also will not export oil for the benefit of the federal government.

Millionday: NOTE -- WITH OIL HAVING SUCH A HUGE PART OF THEIR GDP -- THAT IS A HUGE DEMAND AND THREAT FROM BARZANI --

Millionday: It is noteworthy that Oil Minister Adel Abdul-Mahdi stressed that the recent agreement with the Kurdistan Regional Government will ensure re-exports about one million barrels of oil a day to the Treasury, of Kurdistan and fields of Kirkuk and the north, which tens of billions of dollars that we lost during 2014, which amounts to more than $ 30 billion .
The problem remains waiting list of initiates move stagnant water and dialogue to re-runs its course in preparation to reach a successful agreement between the two parties.

Millionday: SO AS WE READ -- THE THOUSANDS OF RETURNED IRAQIS WERE TO KIRKUK --- SO WE CAN IMAGINE THE PRESSURE THERE AS WELL -- MANY IN NEED OF JOBS AND ALSO THINK OF THE DISTRIBUTIONS WAITED ON FOR OIL AS WELL ---

Millionday: THEY ARE REPORTABLY WORKING ON AGREEMENT AND GETTING CLOSER TO RESOLVE --

GrannieAnnie: Do we have to wait until they get the HCL done before they can RV?

Millionday: THEY ARE USING THE AGREEMENT MADE BUT WE DONT KNOW WHAT THEIR PLAN IN TIMING IS

GrannieAnnie: I understand that. But tman was saying today that Baghdad is not honoring the agreement
GrannieAnnie: So I am bumfuzzeled as to what is going on is all.

Millionday: EXACTLY THE POLITICAL PROBLEM THEY ARE FACING -- THE PAYMENT FOR TROOPS NEEDS TO BE SENT ETC -- SO DEMOCRACY IS JUST AS EXPECTED -- ANNOYING

Millionday: BARZANI IS DEMANDING PAYMENT -- WE WILL SEE HOW HIS THREAT WORKS

GrannieAnnie: Barzani reminds me of a huge bully

Millionday: HE IS USING WHAT HE HAS

joyt: Are we waiting on the derivatives in Germany or anything else?

Millionday: WE ARE WAITING ON IRAQ`S MOVE TO A MARKET ECONOMY IMO --- YESTERDAYS NEWS WAS HUGE AND THE DAY BEFORE -- ANNOUNCING THEY ARE ACTIVATING THEIR INTERNATIONAL BANKING AND ALSO THAT CBI IS READY FOR A MARKET ECONOMY SEEMS MUCH MORE IMPORTANT ECONOMICALLY

subgirl: Have you heard anything about the credit ratings at all???

Millionday: SUBBY I HAVE NOT SEEN A FORMAL ANNOUNCEMENT OF ALL THREE BUT THE PREPARATION FOR CREDIT AND INSURANCE AND INTERNATIONAL BANKING WOULD MAKE YOU THINK THEY ARE CLOSE

Millionday: THE INTEREST RATE IS DETERMINED FOR INTERNATIONAL BANKING ACCORDING TO THIER CREDIT RATINGS ---

by **Kevind53** Wed Jul 08, 2015 10:29 am

Even if you ignore all the violence, the security issues, the division, the deficit, etc, none of those things require or indicate any sort of change in the value of the dinar. If it ever happens it will happen when they are good and ready and it is in the country's best interest, not one moment before, and that time is most definitely not anytime soon.

Millionday News 7/7/15

Millionday News 7/7/15

Re: Millionday News 7/7/15