"Time will Tell" - Thurs. AM KTFA Thoughts, News w/ Frank26 2/15/18

by **Ssmith** Fri Feb 16, 2018 8:19 am

KTFA

BeStill44 » February 15th, 2018

TIME WILL TELL........IF PAST TIME IS LOOKED AT THEN GEM IS RIGHT ON........AS I SEE IT ABADI HAS BEEN PUT DOWN IN THE LAST 2 CONFERENCES........TIME 4 HIM TO EITHER BE A MAN OF HIS WORD OR ONCE AGAIN THE WORLD WILL NOT TRUST HIM........SO LET US SEE WHAT THE DAYS AHEAD REVEIL.........THE NEW IRAQ.......OR THE SAME OLD IRAQ........AND AS 4 ME, I COULD CARE LESS WHAT THE RATE COMES OUT AT.......JUST REINSTATE YOUR CURRENCY IRAQ

Dave57 » February 15th, 2018

Hey Frank, maybe with all this good news coming out of Iraq and the World Banks support, Iraq can get an updated credit rating.

Frank26 » February 15th, 2018

THINKING ......... ARE YOU? IMO ................ A GOOD THOUGHT. YES ........ I AGREE WITH YOU

Leb » February 15th, 2018

Frank....looks like what you told us last night is coming to fruition. I am seeing a plethora of articles talking about the Kuwait Conference.

Frank26 » February 15th, 2018

WALKINGSTICK TOLD US .............. U WILL C MANY MANY MORE ............ THINGS THAT HAPPENED AT KW CONF COME OUT ........... INDEED.

Get1Later » February 15th, 2018

7 Billions a "Drop in The Bucket" but it shows its TIME for Business

The United Arab Emirates decides to cancel Iraq’s debt of $ 7 billion

February 15, 2018

The United Arab Emirates has decided to extinguish the Iraqi government’s $ 7 billion debt.

In his address to the Kuwait International Conference on Iraq Reconstruction, Anwar bin Mohammed Gargash, Minister of State for Foreign Affairs, said that the support includes 250 million US dollars through the Abu Dhabi Fund for Development for infrastructure projects and 100 million US dollars to support UAE companies. In electricity sector projects in Iraq, and US $ 100 million to support and stimulate UAE exports to Iraq.

It also includes US $ 50 million to support the UAE Red Crescent in its humanitarian efforts and charitable projects in the areas most affected by intimidating terrorism.

During the conference, which was opened by Kuwait’s Emir Sheikh Sabah Al-Ahmad Al-Sabah, Iraqi Prime Minister Haidar Al-Abbadi and UN Secretary-General Antonio Guterres, he praised the initiative of the State of Kuwait and the great international response to support Iraq and help it defy reconstruction.

He stressed the historic support of the UAE to Iraq, including the decision to cancel 7 billion US dollars of previous debt in 2008 and a clear political and diplomatic commitment during the past decade.

He pointed to the UAE’s prominent role in the alliance against Da’ash, which included financial commitments of 700 million US dollars, in addition to 60 million US dollars to support the humanitarian situation in the Mosul area.

He pointed out in his presentation to the efforts of the UAE private sector in the reconstruction of Iraq, led by the “project to develop the Al-Rashid camp,” which is estimated at 5 billion dollars and provides jobs and required infrastructure in the modern capital. Development of the Umm Qasr Port, estimated at US $ 500 million and other private sector projects.

In its speech, the UAE stressed the importance of the stability and prosperity of Iraq and its main Arab dimension and the necessity of working together and taking advantage of the opportunity to achieve these goals, which is beneficial and positive for the region.

http://en.economiciraq.com/2018/02/15/the-united-arab-emirates-decides-to-cancel-iraqs-debt-of-7-billion/

Kuwait conference leads the Iraqi stock market to rise

February 14, 2018

The general index of the Iraqi bourse rose from its rise for the second session in a row, closing Wednesday, up 0.6%, at the level of 631.99, winning 3.79 points, because of the positive results obtained by Iraq at the Kuwait conference.

The performance of the index was followed by a rise of 15 shares, by Asia Telecom 9.93%, Industrial Crescent 6.67%, Mosul for Game Cities 6.62% and Northern and Consolidated Bankers by 4.76% and 4.55% respectively.

On the other hand, 3 shares, led by meat production and marketing, fell by 6.14%, followed by Gulf Bank by 2.86%, followed by chemicals and plastics by 1.67%.

The day’s trading volume and value jumped, through 2.08 billion shares, worth 3.09 billion dinars, compared with 1.28 billion shares, worth 1.206 billion dinars in Tuesday’s session.

The Bank of Baghdad continued to top the list of activity volume for the second session in a row, trading 583.96 million shares, while the Babylon Hotel shares liquidity, worth 1.52 billion shares, controlling 49% of the liquidity of the market today.

The number of shares purchased by foreign investors reached 285.01 million shares, worth KD 388.82 million, through 118 transactions on 6 companies.

While the number of shares sold by foreign investors 155 million shares, worth 108.5 million dinars, through the implementation of 78 transactions on the shares of one company.

http://en.economiciraq.com/2018/02/14/kuwait-conference-leads-the-iraqi-stock-market-to-rise/

Don961 » February 15th, 2018

Cuba Will End Dual Currency System After 2 Decades

Thursday, February 15, 2018

For more than two decades, Cubans have used a unique dual currency system to protect a fragile economy, but with just weeks of his mandate remaining, President Raul Castro has signaled much-delayed change is finally coming.

Plans to scrap the divisive system were first mooted in 2003 as part of a series of market-oriented reforms introduced by Castro, who is due to step down in April, AFP reported.

Now, after years of delays, authorities on the Caribbean island are finally expected to bite the bullet and begin consolidating the two currencies, despite fears of a shock to the economy.

“This issue has taken us too long and it cannot be delayed any longer,” Castro said in a speech in December.

The government has resisted any commitment to a timetable, but many observers believe a meeting of the Central Committee of the Cuban Communist Party next month will finally set the process in motion.

The country has had two currencies since 1994 when it introduced the Cuban Convertible Peso, or CUC—alongside the Cuban Peso, the CUP—as part of measures to protect the economy in the wake of the collapse of its biggest sponsor, the Soviet Union.

The CUC, originally used exclusively for foreign trade and in the tourism industry before gradually seeping into the normal economy, is worth about 25 times the CUP and pegged to the dollar.

The dual currencies created a two-tier class system in Cuba, which favored those with access to the lucrative tourist sector through hotels, restaurants and foreign trade.

With the CUC, the state allows its companies to import at a preferential exchange rate-a dollar for a Cuban peso. The distortion allows state entities to ensure their margins while offering the public affordable prices in a country where the average monthly salary is around $30.

But the current system masks inefficiencies in the state sector, economists say. “The monetary duality is causing difficulties to evaluate the economy and competitiveness,” said economist Omar Everleny Perez, citing a complicated relationship with international markets, already hampered by a US trade embargo in place since 1962.

https://goo.gl/UrXHqJ

Samson » February 15th, 2018

The new US Federal Reserve Chairman seeks to reassure the economic community

14th February, 2018

The new US Federal Reserve chairman, Jerome Powell , sought to reassure the world's economic community yesterday after a wave of market volatility that led to major losses last week, about 10 percent of Wall Street's key indexes, Before improving over the past two days.

In his first message to the world, Powell said at the swearing-in ceremony yesterday that the US central bank will continue to monitor risks to financial stability and maintain "fundamental" improvements in the rules of the financial sector since the 2007-2009 crisis,

"We will maintain the gains in financial regulation while seeking to ensure that our policies are as effective as possible, we will remain vigilant in anticipation of any risks to financial stability."

Powell's assurances coincided with a note by US investment bank Goldman Sachs that current market turmoil was only a "modest" risk factor for the strong global economy, as most losses occurred in the US stock market due to rising bond yields, .

Goldman Sachs analysts said in a research note issued on Monday that "our results are in line with our market team's assessment that last week's sales wave was for technical reasons mostly, not of a fundamental nature," explaining that "the history of market corrections During the periods of strong economic data indicates that this correction will probably be shallow, not long and extended.

Yesterday, Asian financial markets recorded a significant rise in trading, supported by US equity gains at the end of trading Monday for the second day in a row, but European stocks showed a decline in morning trading, and US stocks fell in early trading yesterday. The dollar also fell as markets showed some recovery, reviving investors' appetite for riskier assets, but many market participants remain unconvinced that the market has gone through the "worst" as US equity earnings continue to rise ahead of today's US consumer price data (Wednesday), as concerns over inflation may be renewed.

"I think the stock market turmoil will continue until Federal Reserve Chairman Jerome Powell's testimony to Congress on Feb. 28; the markets will try to test it until you know how to think," a US banker told Reuters. The dollar index fell 0.3 per cent to 89.923, moving away from a half-month high of 90.569 on Thursday. The euro traded at $ 1.2290, recovering from last week's low of $ 1.2206, but remains below its 3-year high of $ 1.2538 on January 25, more than two years ago.

The pound rose to $ 1.3846 from Friday's low of $ 1.3764. Despite doubts about secession from the European Union, the pound has improved thanks to growing expectations that the Bank of England will raise interest rates to curb inflation. Initially, the rise in risk appetite contributed to the rise of the dollar against the yen, but the optimism quickly dissipated after traders saw Japanese stocks unable to maintain their big gains in the morning.

The dollar fell more than 0.5 percent to 108.01 yen after the Nikkei lost 1.4 percent on the day, dropping 0.7 percent to a four-month closing low. US 10-year bond yields hit a 4-year high of 2.902 per cent, while yields on 30-year bonds rose to an 11-month high of 3.199 per cent. On the other hand, gold prices hit their highest levels in about a week yesterday (Tuesday), supported by the decline of the dollar. By 07:31 GMT, the spot price of gold was up 0.4 per cent to $ 1327.81 an ounce.

Earlier, the metal hit its highest since Feb. 7 at $ 1328.03. The yellow metal rose 0.5 percent on Monday, its biggest single-day gain in more than a week. US gold futures rose 0.3 percent to $ 1,330 an ounce. "We suspect that gold has largely separated from stocks most of last week, instead tracking the dollar's impact higher and lower," Edward Mayer, analyst at Intel FC Stone, told Reuters.

Silver rose 0.4 percent in spot trade to $ 16.61 an ounce, platinum rose 0.1 percent to $ 971.5 an ounce, while palladium dropped 0.3 percent to $ 981.45 an ounce. LINK