More News, Rumors and Opinions Thursday Afternoon 3-28-2024
KTFA:
Henig: Việt Nam tackles obstacles to stock market upgrade
March 25, 2024
The SSC has proposed that the MPI work alongside other relevant ministries and agencies to expand foreign ownership limits in non-essential sectors.
HÀ NỘI – Việt Nam's ambition to elevate its stock market from "frontier" to "emerging" status by 2025 faces two key hurdles, including pre-trade margin requirements for foreign investors and foreign ownership ratios in certain sectors, said Deputy Director of the Securities Market Development Department under the State Securities Commission (SSC) Phạm Thị Thùy Linh.
Despite successfully meeting seven out of the nine established criteria for the upgrade, the two other requirements remain considerable roadblocks.
To tackle the pre-trade margin requirement challenge, Linh said discussions with international rating agencies are being conducted to seek viable solutions. Additionally, the SSC has proposed regulatory amendments to the Ministry of Finance (MoF). These revisions, if implemented, would eliminate the need for a 100% cash margin requirement for foreign institutional investors, provided they can demonstrate a secure payment process.
Regarding the foreign ownership ratios, the SSC is collaborating with the MoF and the Ministry of Planning and Investment (MPI) to conduct a comprehensive review across various industries. The SSC has proposed that the MPI work alongside other relevant ministries and agencies to expand foreign ownership limits in non-essential sectors. This critical information, translated into English, is expected to be publicly available soon.
The SSC is also making efforts to improve information disclosure regulations, specifically for public and large-scale listed companies. The proposed amendments, once approved by the MoF, would mandate English disclosure for both regular and irregular information updates.
The implementation timeline for these changes would see English disclosures become mandatory for regular information and large-scale company listings starting January 1, 2025. Irregular information disclosures would follow suit by January 1, 2026, with the requirement encompassing all public companies by January 1, 2028.
The World Bank has projected that if Việt Nam's stock market achieves the coveted "emerging" status, it could attract an additional 25 billion USD in fresh investment capital from international investors by 2030. VNA/VNS LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The foreign minister already in USA is a prelude to Sudani grand stand that's coming April 1st, our new fiscal year. FRANK: So much is now pointing for your 1st quarter. April the 1st or maybe the first week of April especially with Sudani going to see the President of the United States in Washington DC on the 15th of April. It seems to me he's going to go see the president with a new exchange rate under his belt...not the weak leadership of a program rate.
Pimpy Surprise! I literally just a couple months ago was looking up the steps Iraq has to take in order to get back on the Swift system and it listed everything saying they were in the process. That's all it said. Apparently they are beyond the process and they've been through the process since the end of 2022 beginning of 2023. Great, that's another big accomplishment for Iraq. We need to make sure restrictions under the currency are lifted. We need for them to get into the World Trade Organization and we need to see them on the Forex. Those things have got to be coming soon. This is exciting new for Iraq....
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TNT:
Tishwash: Parliamentary Finance: We hope that the 2024 budget schedules will reach Parliament next week
On Thursday, the Parliamentary Finance Committee clarified the most important priority sectors in the 2024 budget, and while it expressed its hope that the budget tables would be sent to Parliament next week, it clarified the amount of amounts spent by the governorates last year.
Committee Chairman Atwan Al-Atwani said, reported by the official news agency and viewed by Al-Iqtisad News, that “the Finance Committee and the House of Representatives support the governors, and this was embodied through the necessary financial allocations in the emergency support law and in the 2023 budget, in which the financial allocation to the governorates and the funds for the reconstruction of the liberated areas reached the limits of The 10 trillion,” indicating that “the number of projects reached about 5,500 projects throughout the governorates, with a total cost amounting to 49 trillion dinars.”
He added, "The total spent from the 2023 budget of the 10 trillion is 3 trillion and 300 billion, distributed at a rate of 1 trillion and 300 billion dinars as completed work pieces and 2 trillion and 200 billion to finance projects until the end of 2023," noting that "our last meeting with the governors came “To embody the support of the Finance Committee and the House of Representatives for the governorates to study the obstacles that prevent the completion of these projects.”
He stressed, "The Finance Committee is waiting for the budget schedules from the government, and we expected the government to vote on them at its last meeting last Tuesday."
He stated, “There are two paths that the budget takes in its approval: its approval by planning and financing by the Ministry of Finance,” pointing out that “the 2024 budget will focus on the health, education, electric energy, and housing sectors in order of priority.”
He stated, “The mechanism for distributing budget amounts between governorates is done through population and poverty ratios,” explaining, “In the 2023 budget, specific amounts were added to all governorates, regardless of the standards approved by the Ministry of Planning, out of our feeling that the governorates need support and allocating sufficient amounts for development.” in the services sector.”
He pointed out that "the tables are what determine the path of spending and allocation in the budget," pointing out that "the House of Representatives has the right to make transfers between ministries according to the budget law."
Al-Atwani expressed his hope that “next week will be the date for sending the budget to the House of Representatives,” explaining, “There are some governorates and ministries that have stopped funding and are waiting for the budget schedules to be approved.” link
America standing up for gold & silver Feat. David Tice - LFTV Ep 166
Kenesis Money: 3-28-2024
In this week’s episode of Live from the Vault, Andrew Maguire is joined by a returning David Tice, producer and director of “Grid Down, Power Up” and co-manager of the Precious Metals Equity Investment Management Fund. The precious metals experts disclose the grave threat to both America and the world, warning of geopolitical challenges that could culminate in a takedown of US infrastructure - while offering advice on how to protect oneself with gold and silver.
Timestamps:
00:00 Start
02:45 Overview of the documentary “Grid Down, Power Up”
12:00 If the power goes down, how long might it be down for?
15:15 Gold and silver coins for barter
20:30 BRICS & the Global South
28:45 Addressing the social side of this situation
35:00 Will the Fed turn to crypto as it goes short on gold?
42:30 Gold miners and mining
45:00 The US Sound Money Movement