Foreign Bonds Pop As U.S. Dollar Stumbles

Foreign Bonds Pop As U.S. Dollar Stumbles

Seeking Alpha25 minutes ago

A key source of BWX's strength: the decline of the US dollar, which fell to a seven-month low on Friday, based on the US Dollar Index. BWX's portfolio of foreign bonds is priced in unhedged US dollar terms. All else equal, a decline in the greenback …

The post Foreign Bonds Pop As U.S. Dollar Stumbles appeared first on Dinar Guru RV.

Foreign Bonds Pop As U.S. Dollar Stumbles

Foreign Bonds Pop As U.S. Dollar Stumbles

Seeking Alpha37 minutes ago

A key source of BWX's strength: the decline of the US dollar, which fell to a seven-month low on Friday, based on the US Dollar Index. BWX's portfolio of foreign bonds is priced in unhedged US dollar terms. All else equal, a decline in the greenback …

Former French Ambassador had Bag Stuffed with Banknotes

By John Lee.

France’s former Ambassador to Iraq has gone on trial over charges of tax fraud.

Boris Boillon (46) was arrested in 2013 trying to take a train to Belgium with €350,000 in cash.

The youngest ambassador under President Nicolas Sarkozy, Boillon said the money was payment for work he had done as a private consultant involved in the reconstruction of Iraq and said the money was declared by his consultancy firm Spartago.

He was appointed ambassador to Iraq in 2009, and moved to Tunisia in 2011.

(Sources: BBC, The Guardian)

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Saudi Arabia, Iraq discuss Economic Cooperation

Prime Minister Haider Al-Abadi received the Saudi Arabian Minister of Energy, Industry and Mineral Resources, Khalid bin Abdul Aziz al-Faleh, and his accompanying delegation in his office on Monday.

During the meeting, they discussed boosting cooperation in the oil sector, industry, petrochemicals, electricity, minerals, trade and banks, as well as reviewed cooperation to support OPEC oil prices.

His Excellency Prime minister Dr. Haider Al-Abadi stressed the importance of expanding bilateral steady cooperation for the benefit of the two countries which would lead the region to a comprehensive development beneficial for all.

The Minister of Energy Khalid Al-Falih conveyed the greetings of the Saudi King and the officials in the Kingdom , their blessing for the achievement of Iraq’s victories, pointing out that to the importance of Iraq’s role in the region and the strenuous steps taken in all fields.

The Minister of Energy Khalid Al-Falih expressed the readiness of the Saudi companies to cooperate and invest in Iraq and Saudi’s market desire to obtain Iraqi products.

(Source: Media office of the Prime Minister)

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Iran Building 2 Sports Arenas in Iraq

During a visit to Iraq, an Iranian deputy minister was updated on the latest status of two sports arenas that Iranian companies are constructing in Baghdad.

Mojtaba Khosrotaj, Iran’s deputy minister of industry and head of the Trade Promotion Organization of Iran (PMOI), held a meeting with Iraq’s minister of youth and sports and with the Arab country’s deputy minister of industry and minerals in Baghdad for business talks.

During the meeting, attended by Iran’s ambassador to Baghdad, Khosrotaj was briefed on the development of the projects that Iranian technical and engineering companies are carrying out in Iraq.

According to reports, Iranian companies are building two stadiums in Baghdad, namely al-Zawraa stadium with 12,500 seats and the 60,000-seater al-Tajiat stadium, the construction of which have been completed 41 percent and 30 percent, respectively.

Elsewhere in the meeting, Iraq’s deputy minister of trade requested that Iranian companies assist Iraq in constructing concrete and metal crop silos and in renovating its old silos.

Last year, the former head of the Trade Promotion Organization of Iran called for efforts to implement a free trade agreement with Iraq that officials from the two countries had signed in 2014.

(Source: Tasnim, under Creative Commons licence)

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Military Strikes Continue Against ISIS Terrorists in Syria, Iraq

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria on Sunday, conducting 22 strikes consisting of 72 engagements, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday.

Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports.

Strikes in Syria

In Syria, coalition military forces conducted 18 strikes consisting of 29 engagements against ISIS targets:

  • Near Dayr Az Zawr, four strikes engaged an ISIS tactical unit and destroyed three ISIS barges, two ISIS wellheads, a vehicle, an ISIS oil storage tank and an ISIS oil processing equipment item.
  • Near Raqqa, 13 strikes engaged 12 ISIS tactical units and destroyed 11 fighting positions, nine vehicles, two supply caches, a mortar system, an ISIS headquarters; and suppressed an ISIS tactical unit.
  • Near Tabqah, a strike engaged an ISIS tactical unit and destroyed two fighting positions.

Strikes in Iraq

In Iraq, coalition military forces conducted four strikes consisting of 43 engagements against ISIS targets:

  • Near Kirkuk, a strike engaged an ISIS tactical unit and destroyed two fighting positions.
  • Near Mosul, three strikes engaged three ISIS tactical units and a sniper; destroyed 18 fighting positions, nine medium machine guns, six vehicle bombs, four rocket systems, three rocket-propelled grenade systems, three heavy machine guns, a command-and-control node, a vehicle, a supply cache, a mortar system and a tunnel; damaged 15 ISIS supply roads, a fighting position; and suppressed an ISIS tactical unit.

Additionally, two strikes were conducted in Syria and Iraq on May 20 that closed within the last 24 hours:

  • Near Raqqa, Syria, a strike destroyed an ISIS headquarters and an ISIS staging area.
  • Near Mosul, Iraq, a strike engaged an ISIS tactical unit and destroyed four vehicles, two heavy machine guns, two fighting positions and two vehicle bombs.

Part of Operation Inherent Resolve

These strikes were conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said.

The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted.

Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect. For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said.

The task force does not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target.

(Source: US Dept of Defense)

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Currency Auction Results, 18th May

By John Lee.

The Central Bank of Iraq (CBI) has reported that 38 banks and 10 remittance companies took part in its currency auction on Thursday.

A total of $153,858,635 sold at a price of 1184 Iraqi Dinars (IQD) per dollar.

(Source: Central Bank of Iraq)

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US dollar weak as political risks linger; euro up on Merkel comments

US dollar weak as political risks linger; euro up on Merkel comments

THE BUSINESS TIMES6 hours ago

[NEW YORK] The US dollar fell to a more than six-month low against a basket of currencies on Monday, extending its losses from last week, as an uncertain US political climate and a buoyant euro weighed on the greenback.

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US dollar weak as political risks linger; euro up on Merkel comments

US dollar weak as political risks linger; euro up on Merkel comments

THE BUSINESS TIMES5 hours ago

[NEW YORK] The US dollar fell to a more than six-month low against a basket of currencies on Monday, extending its losses from last week, as an uncertain US political climate and a buoyant euro weighed on the greenback.

Trump has officially become a negative for the US dollar

Trump has officially become a negative for the US dollar

CNBC6 hours ago

Boosted by the Trump trade, the dollar had soared after his election on the prospect that lower taxes, fiscal stimulus, and deregulation would boost the U.S. economy. But that trade has reversed amid the probe into whether the Trump campaign had ties …

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