KTFA:

Don961:  China and the financial sector

Sunday 15 September 2019

 When it comes to economic development, depending on the existence of the elements to achieve this goal, the task requires priorities to be taken into account, in order to reach the desired integration in all parts of the local economy. 

In any case, the construction process requires international contact with economies that are weighted around the globe, which is obvious among the world economies seeking mutual benefit for sustainability.

Today, we have a broader orientation towards the Chinese economy, although the trade cooperation between the two countries is not the result of the moment. Financial.

Indicators confirm that the volume of trade exchange with China touched 37 billion dollars, and adopt mechanisms dealing through regional banks, and here we must in fact have a banking system capable of managing this process, through the adoption of correspondent banks or the opening of branches of Chinese banks inside Iraq, as can The adoption of bilateral partnerships in the financial sector, the result of which banks are sober leading to the mutual benefit of the economies of the two countries. 

The existence of a sound financial sector under the joint management of the owner of advanced financial technology is truly a cornerstone for the development of the national economy in all the details and puts the country in a position commensurate with its capabilities on the global list. 

The partnership with China, which has an advanced economy and has an active presence in the region is important, taking into account the communication with major international economic companies, especially as the Iraqi labor market accommodates the efforts of major international companies, and can be a starting point for major international industries are established inside Iraq It will arrive in the West markets within five days. 

Our economy is wide and we have to work according to these data and build with confidence and start from where the world ended.   link

MilitiaMan:  The above data supports that WS is right and apparently on time. We were told about this PBs in the USA to be within two weeks back on 09/06/2019. Well two weeks from then is 09/20/2019 imo. Today is the 15th.. lol  If they will arrive within five days it sure would seem they would have the international rate exposed prior to that time, imo..

Frank26:  TAKE NOTE IMO ..................... HAS TO BE WITHIN THESE ..........5. 

MilitiaMan:  Then the pressure is on now and big time. imo! The most logical time is upon us. imo That is when the markets bare the least disruptions.. imo! ` MM

Coco:  Oil is up nearly 12% and Gold is up nearly 1% in Pre-Market Trading this evening.

Frank26:  SMILE ................. YUP........ AND I ASKED ON UB2B LAST NIGHT ................ WILL GOLD BE POSTED NOW ON CBI ? 

MilitiaMan:  Will gold be posted on the CBI? I would expect so once they change the rate and allow for Fils, NSCNs and bullion in the ATMs.. Sound about right? ~ MM

Frank26:  (thumbs up)

2Cents:  Frank E   Frank E……Mahdi in Russia Thursday - Sunday.......?????  

Frank26:  BECAUSE IMO .........  IN THAT LINE OF DEALS THEY ARE ............. NEXT

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Samson:  Adel Abdul Mahdi receives a call from US Secretary of State Pompeo
16th September, 2019

Prime Minister Adel Abdul-Mahdi's office said Monday that he had received a call from US Secretary of State Mike Pompeo.

"Prime Minister Adel Abdul-Mahdi received a telephone call from US Secretary of State Mike Pompeo," the office said in a statement received by the Independent.

An informed source said that "the two sides discussed the political and security situation in the region in addition to strengthening relations between Iraq and the United States."   LINK

Samson:  Oil prices rise after Saudi attacks
16th September, 2019

Oil prices rose on Monday as Brent crude posted its biggest percentage gain in a day since the Gulf War began in 1991 after an attack on two oil facilities in Saudi Arabia halted production of the equivalent of 5 percent of global supplies

Brent crude futures jumped as much as 19.5 percent to $ 71.95 a barrel during today's trading, the biggest gain since January 14, 1991. By 0343 GMT, the contract for next month rose to $ 66.20 a barrel, up $ 5.98, or 9.9 percent compared to the previous close

US West Texas Intermediate (WTI) crude futures jumped as much as 15.5 percent to $ 63.34 a barrel, the biggest percentage gain in a day since June 22, 1998. By 0343 GMT, next month's contract rose to $ 59.73 a barrel, up 4.88 percent. Dollars or 8.9 percent

Saudi Aramco said the attacks had cut oil production by 5.7 million barrels per day. The company did not provide a timeframe to fully resume production

A return to full capacity could take weeks, an informed source told Reuters

An oil industry source told Reuters Saudi Arabia's oil exports would continue as usual this week as the kingdom uses stocks from its major facilities    LINK

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Samson:  Russian Energy Minister: There are sufficient commercial oil stocks around the world to cover any shortage of supplies

16th September, 2019

 Russian Energy Minister Alexander Novak said he planned to talk to his Saudi counterpart after attacks on Saudi oil facilities, adding that there were sufficient commercial oil stocks around the world to cover any shortage of supplies from Saudi Arabia

Novak said the criteria for the global oil production deal were unchanged and there was no immediate need for an extraordinary meeting of OPEC and independent producers   LINK

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Samson:  Germany: Withdrawal from oil reserves is a joint decision of the International Energy Agency
16th September, 2019

The German government said its oil supplies were unaffected by attacks on Saudi refineries over the weekend and any decision to withdraw from strategic reserves should be made in conjunction with members of the International Energy Agency

"We are monitoring the situation closely and the oil supply in Germany is not affected at the moment," a ministry spokeswoman said. Globalism

"The decision to withdraw from strategic oil reserves to compensate for global supply disruptions should be made jointly with members of the International Energy Agency (IEA) and at the moment this is not under consideration   LINK

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Samson:  Goldman: Brent may exceed $ 75 if the Saudi stop exceeds 6 weeks
16th September, 2019

Goldman Sachs said a production cut of more than six weeks due to the drone attack on two Saudi oil facilities over the weekend could bring Brent crude above $ 75 a barrel, although the impact of the attack has yet to be determined

"A disruption of production for this period under current levels will not only lead to an increase in Brent crude prices, but will also lead to the withdrawal of strategic oil reserves" in quantities large enough to fill such a deficit for several months, the Wall Street bank said in a note on Sunday. And put prices at their current levels

Oil prices rose on Monday, with Brent crude the biggest percentage increase on the day since the 1991 Gulf War because of Saturday's attacks that cut more than 5 percent of global supplies

A total shutdown of about 4 million barrels per day (bpd) for more than three months is likely to push prices above $ 75 a barrel, the bank said

The British bank Barclays said the attacks would not likely reduce Saudi oil exports significantly by the large stock of crude oil and petroleum products in Saudi Arabia   LINK

Samson:   After the rise of oil .. Gold jumps 1%

 2019/16 11:38

Gold jumped 1 percent on Monday as attacks on two oil facilities in Saudi Arabia led to risk aversion and boosted demand for the safe-haven yellow metal as investors awaited signs of monetary easing from meetings of major central banks this week.

Gold rose 1 percent in spot trade to $ 1503.60 an ounce by 0601 GMT, and prices fell 1.2 percent the previous week on hopes of a close end to the trade dispute between China and the United States. US gold futures rose 0.8 percent to $ 1,511.40 an ounce, after oil prices rose nearly 20 percent. Oanda analyst Jeffrey Haley said the attacks on Saudi oil facilities had shifted attention from stocks to safe havens.

With tensions mounting in the Middle East and hopes of more stimulus measures from major central banks, the next target for gold would be $ 1,530, he said. On the other precious metals, silver jumped 3 percent to $ 18 an ounce, and platinum rose 0.5 percent to $ 953.31. Palladium, meanwhile, gained 0.5 percent to $ 1,614.  LINK

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Samson:  The currencies of oil-exporting countries record broad gains after the Aramco attack

16th September, 2019

The currencies of oil-exporting countries recorded wide gains during trading on Monday, after the attack on refineries in Saudi Arabia

On Saturday, Saudi Aramco factories in Khurais and Abqaiq were set ablaze by drone attacks

The accident resulted in the discontinuation of 5.7 million barrels of crude oil supplies , or about 50 percent of the company's production, with government assurances that part of the decline will be compensated for its customers through inventories

Oil prices jumped after the crash due to a shortage of crude. Brent crude rose to $ 71.95 a barrel by about 19.5 percent, the largest single-day rise since January 1991

The currencies of the countries exporting crude received support from these developments, while the currencies of the importing countries declined

Norway's currency rose as one of the largest exporters of crude, and by 9:45 am GMT krona against the dollar rose about 0.2 percent to 8.9731 crowns

The Canadian dollar was also up against its US counterpart by 0.2 percent to 1.3258 Canadian dollars

On the other hand, the currencies of Turkey and India, as one of the major importers of crude

During that period, the Indian rupee fell against the US dollar by about 0.9 percent to 71.5400 rupees

The lira also fell against the dollar by 0.5 percent at 5.7141 pounds   LINK