Category: Dinar Daddy

U.S. retail sales 0.6% vs. 0.6% forecast

Investing.com – Retail sales in the U.S. rose last month, official data showed on Friday.

In a report, the Census Bureau said that retail sales rose to a seasonally adjusted 0.6%, from 0.3% in the preceding month whose figure was revised up from 0.0%.

Analysts had expected retail sales to rise 0.6% last month.

Investing.com
Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com apps for Android and iOS!

Demonstration in Basra province, demanding the formation of Basra administrative region

vBasra / Nina / The city of Basra witnessed today popular demonstrations in front of the governorate building to demand the formation of Basra administrative rejoin .

The demonstrators said , according to the National Iraqi Agency reporter / Nina / ” Claiming to establish Basra administrative region is at the forefront of demands that are responsive to the rights of the province rights with its economic potential noting that Basra marginalized by the policies of the center.

They said the option of resorting to claim the region is aimed at the abolition of the subordination of Basra to the center and to benefit from the its wealth like the province of Kurdistan.

LINK

Araji meets with security officers in Samara

The Deputy Premier, Baha al-Araji, visited the security officers in Samara city.

A statement by Araji’s office received by IraqiNews.com cited “Araji visited Samara city where he met with the security leaders and discussed the latest security updates in the city, praising their role in sustaining security.” /End/

LINK

Abadi announces arresting terrorist group

The General Commander of the Armed Forces, Haider al-Abadi, announced arresting the terrorist groups behind the latest bombings in Baghdad and provinces.

A statement by Abadi’s office received by IraqiNews.com “Abadi announced adopting strict measures against the neglectful security officers in the areas that witnessed the bombings.”

“Abadi assured that the terrorist group behind the latest bombings in Baghdad and the provinces is arrested and the investigations are going on to reveal the sides that support them,” the statement concluded. /End/

LINK

Tlm talks about implementation of policy.

tlm724 Article: “Abadi: planning and implementation of state policy, including the oil and finance are the powers of the Council of Ministers” Quote: “that the planning and implementation of public policy of the state, including oil policy and finance is the prerogative of the Council of Ministers” Abadi’s Council has the power to implement! No need to take it to parliament ! Wink! the HCL was passed years ago, just need to come to an agreement with the kurds and implement it.

 

Central Bank gets New Governor

The Secretary General of the Council of Ministers, Ali Mohsin Ismail , has been appointed Governor of the Central Bank of Iraq (CBI), replacing Dr Abdulbasit Turki [Abdul Basit Turki Saeed].
His position as GSCOM is to be filled by Dr. Hamed khalaf Ahmad.
Mr Ismail said he was leaving his former position with full confidence and trust in his successor.

LINK

Chinese industrial production 6.9% vs. 8.8% forecast

Investing.com – dustrial production in China fell more-than-expected last month, official data showed on Saturday.

In a report, National Bureau of Statistics of China said that Chinese Industrial Production fell to 6.9%, from 9.0% in the preceding month.

Analysts had expected Chinese Industrial Production to fall to 8.8% last month.

Investing.com
Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com apps for Android and iOS!

Forex – USD/CAD rises to fresh 6

Investing.com –

Investing.com – The U.S. dollar rose to fresh six-month highs against its Canadian counterpart on Friday, after data showed that U.S. retail sales grew in August at the fastest pace in four months and as markets eyed an upcoming report on U.S. consumer sentiment.

USD/CAD hit 1.1076 during early U.S. trade, the pair’s highest since March; the pair subsequently consolidated at 1.1071, rising 0.32%.

The pair was likely to find support at 1.1031 and resistance at 1.1278.

Official data showed that U.S. retail sales rose 0.6% last month, in line with expectations. Retail sales for July were revised to a 0.3% gain from a previously estimated flat reading.

Core retail sales, which excludes automobiles, increased by 0.3% in August, in line with market expectations and following a 0.3% gain in July, whose figure was revised from a previously estimated 0.1% rise.

The positive data added to expectations for an early hike in U.S. interest rates after a study by the San Francisco Federal Reserve published on Monday indicated that central bank officials see rates rising sooner than markets expect.

The Fed was expected to cut its asset purchase program by another $10 billion at its upcoming policy meeting next week which would keep it on track for winding up the program in October, and to start raising interest rates sometime in mid-2015.

The loonie was lower against the euro, with EUR/CAD gaining 0.38% to 1.4314.

In the euro zone, official data earlier showed that industrial production rose 1.0% in July, exceeding expectations for a 0.5% gain, after a 0.3% fall in June.

But sentiment on the single currency remained vulnerable after the European Central Bank unexpectedly cut rates to record lows across the euro zone last week and unveiled new easing measures in a bid to shore up the faltering recovery and boost inflation.

Investing.com
Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com apps for Android and iOS!

Money from Fake Bomb Detectors Repatriated

Iraq’s Commission of Integrity has reportedly repatriated five billion Iraqi dinars [$4.3 million] that were smuggled to Lebanon.
According to Aswat al Iraq, the money, in addition to some real estate investments, were illegally obtained by British businessman James (Jim) McCormick, who was sentenced to 10 years in prison in Britain for fraud.
The ADE651 detectors sold by his company, ATSC, contain nothing that could be used in the detection of explosives.

LINK

Unemployment Increases in Kurdistan Region

BasNews reports that the unemployment rate in Kurdistan has risen from 7 percent at the end of 2013 to 10 percent currently. The number unemployed is nearly 100,ooo, of which 52 percent are men.
The increase has been blamed on the general economic situation in Iraqi Kurdistan, and on the sanctions that Baghdad has put on the region.
The Statistics Director in Sulaimaniyah, Mahmud Osman, believes that the increase in unemployment is mainly due to the lack of job opportunities for university graduates, and the lack of availability of loans to youths.
According to the data of the Ministry of Planning, in the first six months in 2013, the unemployment rate stood at 5.2 percent.
Meanwhile, Iraqi social affairs Minister Naser Ruba’i revealed that 46 percent of Iraqi citizens are jobless.
According to data obtained by BasNews, there are approximately 3000 contractor projects, 70 percent of which have come to a halt due the recent violence in northern Iraq.
“In respect of the current economic crisis and IS attacks, markets and projects have stopped. The government must have a serious plan in order to survive the current situation that Kurdistan is going through”, said Yassin Mahmud, spokesperson for Kurdistan Investment Union.
According to Investment Unions official, 14 billion dollars [16.3 trillion Iraqi dinars] was invested in the region in 2013, but this has fallen to only 3 billion dollars [3.5 trillion Iraqi dinars] in the first 8 months of this year.

LINK