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  "End of the Mandate" - Sun. AM KTFA Thoughts/News 10/14/18

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Ssmith
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PostSubject: "End of the Mandate" - Sun. AM KTFA Thoughts/News 10/14/18   Mon Oct 15, 2018 10:17 am

KTFA

Samson » October 14th, 2018

Saleh: Sovereign Wealth Fund will see the light next year


14th October, 2018

The Financial Advisor to the Prime Minister confirmed the appearance of Mohammed Salih on Sunday that the sovereign wealth fund will be launched next year after the implementation of the law of the National Oil Company, noting that the fund will be used for development purposes directly

Saleh said in an interview with "Economy News" that "most countries that achieve surplus balance of payments due to the export of natural resources are working to establish a sovereign fund," noting that "the Fund is used to diversify and absorb financial returns over time and for development purposes and reduce the unemployment rate and end the crisis Living

He noted that "the sovereign wealth fund will see the light after the implementation of the law of the National Oil Company during the next year

He added that "the fund's resources will be diversified among stocks, bonds, real estate and others," adding that "the sovereign fund will be linked to the government in general, and the Supreme Finance Committee to take over under the supervision and control of the Office of Financial Supervision and the Finance Committee in the House of Representatives

He noted that "there are more than 90 sovereign funds around the world at present, with a financial balance of 20 trillion dollars

Saleh stressed the need to invest the funds of the Fund to run government companies that have been stalled since 2003 to take advantage of their revenues to rotate the Iraqi economy

While the economist Abdul Jalil al-Rubaie, earlier through "Economy News", called on the government to establish a "generation fund" of the surplus of previous and subsequent budgets to address the economic and political crises in the country

"The fund is implemented globally by Arab and foreign countries and the funds are allocated from the surplus of previous budgets to cope with economic crises," Rubaie said

MP Majida al-Tamimi, revealed earlier, the total actual oil revenues achieved during the year 2018 for the period from January to the end of September, which amounted to (60.436) trillion dinars LINK

McDan » October 14th, 2018

This says 20 Trillion Dollars not Dinars


He noted that "there are more than 90 sovereign funds around the world at present, with a financial balance of 20 trillion dollars

last paragraph says 60 trillion plus at 1/1 equals 60 trillion plus Dollars

GodLover » October 14th, 2018

Just a quick question. In this article it states "Abdul Mahdi has 30 days to form his government and is likely to succeed" When did the 30 days start?

Don961 » October 14th, 2018

according to articles ... Nov. 3 the 30 days are up

Michelle » October 14th, 2018

Didn't they announce him as the New Prime Minister Designate on Oct. 2nd or 3rd ??

Don961 » October 14th, 2018

Yup .. Nov. 3 is the end of the mandate to form a cabinet ... it can be satisfied any time before that of course

Samson » October 14th, 2018

Informed sources: Abdul Mahdi intends to form a special court of corrupt officials


14th October, 2018

Political sources revealed the existence of a joint cooperation between the outgoing Prime Minister Haider Abadi, responsible for the formation of the government Adel Abdul Mahdi, on the development of a road map to eliminate corruption completely.

The sources said: "The Prime Minister-designate to form a government Adel Abdul Mahdi, moving to prevent senior officials accused of corruption, to travel outside Iraq before taking power, in agreement with Abadi."

She pointed out that "there is an intention of Abdul Mahdi to form a competent court to hunt corrupt officials, in coordination with the Supreme Judicial Council and the management of judges competent to eliminate corruption." LINK

Sandnsea » October 14th, 2018

Now that sounds familiar. Military Tribunals ?????

Samson » October 14th, 2018

Thwarted an attempt to smuggle 450,000 US dollars from Najaf airport out of Iraq


14th October, 2018

The members of the Border Crossing Authority (BPA) managed Sunday to thwart an attempt to smuggle 450,000 US dollars from Najaf airport out of Iraq

The agency said in a statement received by "Economy News" copy of it, "it was able to thwart the attempt to smuggle 450 thousand US dollars, but an Iraqi traveler who was planning to travel to China on the Qatar Airways Transit Qatar, based on information from the National Intelligence Service and in joint coordination With the police as the airport, the search and investigation division and the port personnel

He added that "the legal proceedings were taken against him according to a fundamental record and referred to the airport police station LINK

Integrity: prison for employees who lost 12 billion dinars of the advances allocated to the displaced

2018/10/14 10:35

The Department of Investigation in the Integrity Commission revealed the issuance of the Criminal Court on the issues of integrity in Baghdad, a ruling in absentia, the imprisonment of two employees of the Ministry of Displacement and Migration in accordance with the provisions of Article 315 of the Penal Code; for deliberately causing damage to public funds worth more than 12 billion Dinar.

A statement of integrity received by the agency {Euphrates News} a copy of it, "The Chamber, referring to the details of the case, that the convicted fugitives who were working in the Ministry of Displacement and Migration, have embezzled the financial advances allocated as grants; for distribution among displaced families, The total amounts embezzled by them amounted to 12 billion and 351 million and 540 thousand and 600 dinars."

The statement added that "the court, after reviewing the statements of the legal representative of the Ministry of Displacement and Migration, who requested the complaint against the accused, the minutes of the investigative committee recommended for referral to the judiciary, as well as the presumption of escape, reached sufficient conviction to criminalize them in accordance with the provisions of Article 315 of the Penal Code, Articles 47, 48 and 49, and a sentence of seven years' imprisonment."

"The ruling issued in late August also included a warrant for the convicts, a fundamental search of their rights, support for the seizure of their movable and immovable property, as well as the right of the injured party (the Ministry of Displacement and Migration) Judgment categorical order". LINK

Iran plans to export its nanoparticles to 49 countries

14th October, 2018

Iran's Nanotechnology Development Commission (NEDC) Secretary Saeed Sarkar announced on Sunday plans to export locally manufactured nanotechnology to 49 countries.

"Iran exported more than 62 million dollars of nanotechnology products to many countries last year," Saied Sarkar told reporters on the sidelines of the second day of the Tehran International Exhibition of Nano.

He added that more than 300 nanoparticles were presented in 114 showrooms and visitors could visit the exhibition until next Tuesday, indicating that the volume of nanotechnology products reached last year reached about 13750 billion riyals.

Sarkar pointed out that plans had been prepared to develop the export of Iranian nano products to 49 countries in the world. LINK

Christine: Steer the ship and not drift into the wind

14th October, 2018

Many economies are under pressure from the dollar and the tightening of financial markets. Some of them are now facing exogenous capital inflows and to illustrate the picture, we do not see the extent of financial contagion - so far - but we also know that these conditions can change rapidly.

If the ongoing trade disputes intensify, it could cause a broader shock in emerging and developing economies. What should be done then? At such times, policymakers can draw inspiration from the words of a great American poet, Oliver Wendell Holmes, who once said: "Access to the harbor requires sailing with the wind sometimes and sometimes against it, but we have to sail, not to drift with Wind, and not stay waiting."

My main message today is that we need to manage risks, accelerate reforms, and modernize the multilateral system. Or the term used in the world of navigation, we need to steer the ship, not the wind, and above all, seize the opportunity now, while growth is still relatively strong to carry out the bold policy reforms required to sustain and sustain the economic momentum.

As I said before, "we have to fix the roof" ... it is the right behavior now more than ever before. How can this be done in practice? Addressing three challenges: trade, turmoil and confidence. A) Building a better global trading system First, trade: Simply put, countries should work together to build a stronger, more equitable and appropriate global trading system for the future.

A lot is at stake; cutting global value chains can lead to a devastating impact on many countries, including developed countries, and can also prevent emerging and low-income countries from realizing their full potential. Many are at stake; import restrictions prevent trade from playing its primary role in driving productivity, spreading new technologies and reducing poverty. That is why we need to work together to defuse and successfully resolve the escalation of ongoing trade disputes.

Despite the temptation of solo sailing, history tells us that countries must resist self-sufficiency claims, because it leads the ship to destruction, as the myths of the Greeks say. What we need in the coming period is the "smarter rules" of trade that guarantee the win for all We need to reform the system, not destroy it.

The immediate challenge is to strengthen the existing rules, which includes the distorting effects of State support, the prevention of abuse of dominant positions and the improvement of the enforcement of intellectual property rights. On these issues, we can be encouraged by the growing number of discussions and proposals, most recently by Canada and the European Union. These are positive steps, and there is more work to be done.

For example, if agreement can not be reached between all countries, governments can use more flexible trade deals where countries that are ideologically alike agree to work within the framework of the World Trade Organization (WTO). Of course, reform of the system also means making it appropriate for the future.

Here, too, flexible trade agreements can be used to unlock the full potential of e-commerce and other commercial services, such as engineering, communications and transport. Our latest analysis shows that if we cut the costs of trade in services by 15 percent, we can raise the total gross domestic product Dollars this year.

This could be equivalent to adding another South Africa country to the G-20. These are the types of gains that are affordable if we work together. If we focus on creating a better global trading system, there is a clear demand for improved trade and expansion.

This determination is evidenced by the fact that we have witnessed the conclusion of the African Trade Agreement and the recent wave of bilateral negotiations. B) Prevention of financial and financial turmoil The second challenge is to prevent disturbances at the level of public finance and the financial sector.

Here is the central question: After ten years of the global financial crisis, have we become more secure? My answer is yes, but we are not safe enough. We must continue to push for the implementation of the financial regulation agenda, and resist backlash. In addition, after a decade of relatively easy financial conditions, debt reached new highs in developed, emerging and low-income countries.

Indeed, global debt - both public and private - has reached a record high of $ 182 trillion, almost 60 percent more than in 2007. This accumulation has made governments and companies more vulnerable to tight financial conditions.

Emerging and developing economies are already feeling their influence, adapting to the return of normal monetary policy in the developed world. This process can even become more difficult if it accelerates abruptly, as it can lead to market corrections, sharp movements in exchange rates and further declines in capital flows. LINK
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