Category: Dinar Daddy Tidbits

Kurdish Minister: Obama stressed that the Kurds are a strategic ally to America

The Minister of Construction of the Kurdistan Regional Government Derbaz Rasul Ali confirmed on Thursday the success of the visit of the delegation headed by the Kurdistan Region, Massoud Barzani Head of the Kurdistan Region to the United States of America, and described it as fruitful.

He said in a speech during his participation in the opening of the Ninth Erbil International Fair for Reconstruction and Machinery and Construction today on the Erbil International Fair that the US President Barack Obama stressed that the Kurds are a strategic ally to the United States of America, and America will support the Kurdistan Region and Iraq in the war against terrorist Daash, according to the report by the Patriotic Union of Kurdistan (PUK) website.

He stressed that “the delegation’s visit was fruitful and successful and have a significant influence on the course of political action in Iraq in general and in particular, in the Kurdistan region./End

President Masum back to Baghdad after a visit to Tehran.

President Fuad Masum returned to Baghdad this afternoon and his accompanying delegation after a visit to Tehran lasted three days.

Masum and the accompanying delegation which includes Ministers of Environment Qutaiba al-Jubouri, Trade Mlas Mohammed Abdul Karim and Tourism Adil Fahd along with a number of consultants and media delegation, such as a number of satellite channels, local newspapers and the National Iraqi News Agency /NINA/./End

Visa Between Iraq and Iran Cancelled

President Fuad Masum announced the cancellation of / Visa / between Iraq and Iran.

Masum said a press conference in the Iranian capital Tehran on Thursday 14, May that Iran and Iraq are stepping advanced steps in the framework of strengthening bilateral cooperation in various fields, indicating that his talks with the Iranian leaders and officials were fruitful and successful by all standards, where it was stressed the need for this relationship to be in high level of cooperation and coordination in various fields, particularly the security side, where Iraq is suffering from the terrorist threat from Daash which occupies large areas of its territory.

He stressed that Iran renewed its readiness to supply Iraq with various kinds of weapons and ammunition to boost Iraq’s defense capabilities as well as its readiness to cooperate with Iraq in economic and humanitarian fields and the issue of combating desertification, praising Iran’s situation to the principle of the unity of Iraq and its stand to any attempt to undermine the unity and territorial integrity and to prevent any attempt to touch its sovereignty (which is a red line for the Islamic Republic).

Masum turned to what is being said in some media that Iran is not satisfied to the government of Prime Minister Haider al-Abadi, saying that he sensed from Iranian officials complete satisfaction of the performance of the Abadi’s government and did not hear any negative note in this aspect, stressing that the government of al-Abadi was elected by the will of the Iraqis not by the will of any foreign party.

Masum confirmed the presence of Iranian military advisers in Iraq like several advisers from other countries that sent military advisers to coordinate efforts for the eradication of Daash, which is being a terrorist organization not to Iraq alone, but to other countries in the region and the world, including the United States.

In the Yemeni affairs, president Masum stressed that Iraq is with a peaceful solution and the use of force is unacceptable because it leads to further deepen differences between the Yemeni parties and shedding more blood without justification, adding that the military solution will not be in favor of the Yemeni people.

President Fuad Masum arrived in the Iranian capital Tehran on an official visit, during which he met his Iranian counterpart, Hassan Rowhani, Foreign Minister, Mohammad Javad Zarif, Supreme Leader Ali Khamenei, President of the Shura Council Ali Larijani and head of the Expediency Council Hashemi Rafsanjani. / End

Wma says there has never been a float.

wmawhite …the changes to the IQD have been put in place by the CBI. It has never floated anywhere. Also, if you were the CBI would you turn the future of your country (it’s currency) over to the world of investors and float your currency? Or would you instill confidence in the investors by telling the world that your currency is worth such and such and back it up with your reserves?

 

Millionday says things are moving very fast.

Millionday Article quote: “The head of the Kurdistan Regional Government Nechirvan Barzani, Iraq, on Thursday, the Federal Government to abide by the agreements concluded between the government and the province.” KURDISTAN AND IRAQ HAS REACHED AN AGREEMENT AND THEY HAVE COMPLETED THE MEETING AND AGREEMENT — NO MORE ISSUES…THEY ARE IN AGREEMENT AND IT IS BINDING — I FEEL THIS WILL RESOLVE THE OIL AGREEMENT BETWEEN BAGHDAD AND KURDISTAN…THIS IS MOVING VERY FAST

 

Abadi Visits Adhamiya And Kadhimiya To Encircle Sedition

Prime Minister Haider al-Abadi inspected the regions of Adhamiya and Kadhimiya.

Press sources said Abadi visited Adhamiya and Kadhimiya in order to encircle the sedition that some tried lurking among the pilgrims of Imam /Kadhim / peace be upon him /, which happened on Saturday night in Adhamiya district in northern Baghdad.

Prime Minister General Commander of the Armed Forces, Haider al-Abadi directed to cordon off the sedition in Adhamiya and ordered security forces to pursue those perpetrators.

A statement from the office of Abadi said terrorists infiltrated among the pilgrims (visitors) led to break into the building of Sunni investment, because of claims about the existence of an explosive belt.

The statement added that: “immediately the security forces moved in to control the situation in Adhamiya, indicating that Baghdad Operations Command stationed there have orders from the commander of the armed forces to deal firmly with any attempt to undermine security and work to preserve the security of citizens and their property.

The statement stressed that the security situation is under control and follow up and any similar attempt to encircle and control it due to the intensity of pilgrims’ numbers and the presence of terrorist organizations have plans to spread the sedition. / End

Korean Firm wins $146m Contract at Bismaya

South Korea’s LSIS said on Tuesday that it has signed a deal to supply electrical equipment for the Bismayah New-City Project (BNCP).

The deal, worth about 160 billion won ($146 million, 170 billion Iraqi dinars), will see the company supply equipment for gas insulated switchgear at 32 substations over the next four years.

According to a report from Korea Times, LSIS is a newcomer in the substation market in Iraq, which has long been dominated by global companies such as Siemens and ABB, but the company has previously won other business in Iraq.

Gold prices dip in asia on profit taking, focus remains on Fed

Investing.com –

Investing.com – Gold prices dropped in early Asia on Friday, taking profits on overnight gains with the continued focus on the timing of a widely expected rate hike by the Federal Reserve this year.

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery fell 0.38% to $1,220.50 a troy ounce.

Silver for July delivery rose 0.25% to $17.508 an ounce. Copper for July delivery fell 0.09% to $2.918 a pound.

In Japan, the release of April CGPI showed a drop of 2.1% year-on-year, matching expectations and notching the first drop in 25 months since -0.5% in March 2013 as the base effect of the April 2014 sales tax hike fades.

Bank of Japan Governor Haruhiko Kuroda is due to speak on monetary policy at a seminar hosted by the Yomiuri Shimbun in Tokyo from 1240 to 1340 (0340 to 0440 GMT).

Late in the session, at 1400 (0500 GMT) the April consumer confidence survey is due. In March, the consumer-confidence index rose 0.8 points to a seasonally adjusted 41.7, marking the fourth consecutive rise and the highest since 41.7 in December 2013.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.04% to 93.44.

Overnight, gold futures rose slightly on Thursday reaching a three-month high, as soft U.S. inflation data sent the dollar plunging amid growing possibilities for a delayed interest-rate hike by the Federal Reserve.

The U.S. Bureau of Labor Statistics said Thursday that Producer Prices for total final demand in April fell 0.4%, significantly below estimates of a 0.1% — the low end of analysts’ forecasts.

On a year-over-year basis, Thursday’s reading painted an even dire outlook as the index ticked down to a record low of minus 1.3%. In March, the index stood at negative 0.8% in comparison with the reading 12 months earlier.

A key reading of the Producer Price Index, the PPI-FD, which excludes food and energy prices, dipped 0.2% in April. Analysts expected the reading to remain flat on the low end of its forecasts. The PPI-FD is still up 0.8% on a year-over-year basis.

The moderate inflationary pressures, in combination with disappointing import and export data a day earlier will probably appease the doves on the Federal Open Market Committee (FOMC).

On Wednesday, the Labor Department said import prices slid 0.3% in April, following a 0.2% decline a month earlier. On a year-over-year basis, import prices have fallen by more than 10% after the 10th consecutive monthly decline.

Following the conclusion of its April meeting on April 29, the Fed reiterated that it would like to see inflation move toward its targeted goal of 2% before it raises interest rates for the first time since 2006.

Gold, which is not attached to interest rates or dividends, struggles to compete with high yield bearing assets in periods of rising rates.

Separately, the Labor Department said initial claims for state unemployment benefits fell by 1,000 last week to a seasonally adjusted 264,000 for the week ending on May 9. The four-week moving average, a more accurate gauge of labor market conditions, dropped by 7,750 to 271,750 the lowest level in more than 15 years.

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NYMEX crude weaker in Asia as supply glut weighs, Gulf tensions eyed

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Investing.com – Crude oil prices dipped further in Asia on Friday as the global supply profile remains bearish, though geopolitical tensions remain a key factor.

On the New York Mercantile Exchange, WTI crude for July delivery fell 0.34% to $59.67 a barrel.

Overnight, crude futures fell sharply on Thursday, as energy investors continued to digest a wave of supply data from earlier in the week and geopolitical risks in the Middle East weighed.

A day earlier, the International Energy Agency said in a monthly report that global oil supply stood at 95.7 million barrels per day, as a slowdown in U.S. shale production failed to offset increased output among OPEC nations and several unexpected non-OPEC members. The supply level remained unchanged from the previous month.

On the Intercontinental Exchange (ICE), Brent crude for July delivery neared $68 a barrel before falling to $66.66 at Thursday’s close, down 0.61 or 0.91%.

As U.S. president Barack Obama discussed the framework of a comprehensive Iranian nuclear deal with a host of Persian Gulf leaders at a summit at Camp David, house leaders continued their debate on the merits of an agreement on Capitol Hill. After a vote on the Iran Nuclear Agreement Review Act of 2015 received near unanimous support, the legislation will go to the White House for President Obama’s signature.

“It is fair to say that there are deep, bipartisan concerns about where these negotiations are heading,” Rep. Ed Royce (R California), Chairman of the House Foreign Affairs Committee, said in a statement. “I fear that the agreement that is coming will be too short, sanctions relief will be too rapid, inspectors will be too restricted, and Iran’s missile program will be plain ignored.”

Last month, Reuters reported that Iran has 30 million barrels of oil stored in offshore tankers ready for export, after the Persian Gulf nation agreed on the framework of a nuclear deal with Western powers. In addition, Facts Global Energy, an energy consulting firm, has forecast that Iranian oil exports could reach a level of 1.7 million barrels per day within 12 months of a final deal, up from its current level of a million bpd.

If economic sanctions are lifted against Iran, an outflow of Iranian oil could depress energy prices in a global market already saturated by a glut of crude supply.

Elsewhere, Iranian ships reportedly sent warning shots near a Singapore-flagged ship on Thursday in international waters, causing it to retreat into United Arab Emirates waters, according to U.S. officials. Earlier this month, Iran captured a Marshall Islands-flagged merchant ship in the Strait of Hormuz following a financial dispute.

In Yemen, millions of citizens received shipments of food and medicine in the midst of a five-day ceasefire between Iranian-backed, Shiite-led Houthi rebels and Saudi Arabia. Yemen has been bombarded by Saudi-led airstrikes since late-March when a Houthi advance forced president Abd-Rabbu Mansour Hadi to flee the country.

Energy traders are sensitive to any geopolitical news involving Saudi Arabia, the world’s top exporter of crude.

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Hakim appreciates the support of the Iranian role in Iraq Daash the face of extremist and terrorist groups

BAGHDAD / Nina / Search head of the Islamic Supreme Council of Iraq Ammar al-Hakim with the Minister of Labour and Social Welfare on the Vernal relations between Iraq and the Islamic Republic in Iran.

He said al-Hakim / according to a statement his office / “the importance of communication between the two countries and the exchange of experiences and programs that will provide well-being of the citizen.”

Hakim and the price of “the role of the Islamic Republic in its support for Iraq in the face of Daash extremist and terrorist groups.” .