KTFA:

MilitiaMan:  Thanks Don961!   Edited and reduced post by: ~ MM

Parliament holds its first legislative session after 10 Muharram
Tuesday 03 September 2019

Baghdad / morning / Shaima Rashid

 The legislative holiday of the House of Representatives will end on Tuesday officially, the third legislative term of its second legislative year will begin next week after the 10th of Muharram recess after it was scheduled for Tuesday, September 3, as announced by the Council in a previous statement.

Presidency of the Parliament that "Chapter III will be dedicated to controversial laws that were not agreed upon during previous sessions, such as oil and gas laws and the abolition of the offices of general inspectors and the Federal Court and other laws," while the Parliamentary Legal Committee announced that there are more than 150 legislation in Adra C Parliament is waiting to pass.

The first deputy speaker of the House of Representatives, Hassan al-Kaabi, announced in previous statements, that "the plan set by the Presidency of the Council of Representatives and members of the House for the next stage, includes the discussion of all laws that did not find its way to the legislation, which was called controversial laws," stressing the existence of a determination to pass Through understanding and agreement and the primacy of the interest of the homeland and the Iraqi people.

First session 

Deputy Chairman of the Parliamentary Legal Committee Mohammed al-Ghazi explained to the "morning", that "the third legislative term will begin a meeting of the presidencies and the holding of committees, which is constitutional, while the first session will be after the tenth of Muharram." 

Al-Ghazzi said: “It was scheduled to hold the first sessions of parliament for its new legislative term (today Tuesday, September 3) but because of the month of Muharram, the session will be postponed until after the tenth of Muharram, in addition to the convening of the Conference of Asian States hosted by Iraq today and also there Meetings of the presidencies, "he added," The delay of the meetings for several days is constitutional, especially since the parliament has extended its legislative holiday a month to complete its laws at the time, "noting that" the legislative chapter has begun (Tuesday), but the difference in the days of meetings ”.

He continued: "Chapter III will be on controversial laws, and the first law to be discussed by Parliament, which will be sent from the Legal Committee is the abolition of the order (67) on the establishment of offices of general inspectors," indicating "the existence of a political agreement on the abolition of this law, as well as the law of oil and gas and the Federal Court And other laws carried out from previous sessions, pointing out that "the subject of special grades in the process of completion," ruled out that "the government is dismissed, but may witness the questioning of some ministers only."

Controversial laws

In turn, a member of the House of Representatives Sa'aran miraculous in an interview with the "morning", that "there are a lot of laws that are ready and ready to vote; "The next chapter will be devoted to the legislation of important laws that serve the citizen and that is a priority of the parliament, but laws that have political differences can be passed if there is consensus and national will."

150 special legislation

“The most prominent outstanding laws are the Federal Court, the State Administration, Public Debt, the Federal Services Council, the Olympic Committee, Oil and Gas, etc.”

“The Council is obliged to support the government's reform program by passing its own laws during the current electoral cycle.”    link

MilitiaMan:   So lets take a closer look, they extend the session to apparently cover Mahdi's past pledge to the people. His pledge if you will was to have the reforms done in the current legislative period  that can be done and considered to be on time with in his pledged time frame. Thus, saving face to the citizens.. imo..

They hadn't finished the Oil & Gas law in previous sessions, but they will during the current session, as noted above which falls within the next 7 days real close. That means  to me they will have to have the reforms such as the Oil & Gas done before they end the current session, the next session begins after the 10th of September.

That requires imo an international rate to be done and applied, hence, the extension has been noted publicly today. That is not the only thing that requires an international rate, imo. 

The AMF is complete in launching a special Index database for Iraqi Securities. They have it ready, as they calculated the index as being from 07/31/2019.

That calculation may be from using an international rate that is to be applied for the Oil & Gas Law derived from the FML and the Amendment to it in mid to late 2019, which imo would be a reflection of the IQD's international value to be applied to or toward the Oil & Gas Law along with the Iraq Securities market alongside the AMF Financial Market that also represents a basket of other currencies. This is all lining up in short order for completion. 

Now if we think about it and reflect what we were told about the electronic billboards, big screens, mobile vehicles, the ATMs, all being broadcast-ed with information on coins, "New Small Category Notes" (NSCNs), etc. What venue did we hear from Frank to be a big deal coming soon?

The football game this Thursday evening after banks are shut through the weekend, comes to mind. Here in the states Super Bowl is watched by millions.. Iraq is no different with their football. Advertising gets to the masses!! Text messaging is going to be the "Amber Alert" effectively too for the citizens all most having phones now.

Electronic timing can be used for full advantage.. Everyone is notified of what to expect at the same time and where to look for the CBI to provide what they/we are looking for.. Let that sink in.. Imo, the above holds water and extremely hot volcanic at that!!!  lol imo ~ MM   

"The Fund said that it has started to calculate a special index for the Iraqi market for securities, based on the data as at 31 July 2019 as a base period .

The sample of the index of the Fund for the Iraqi market for the securities of 43 companies, representing a market value of about 80 percent of the total market value as at the end of 2018 .

It is noteworthy that the Arab Monetary Fund calculates, in addition to indicators for the financial markets that join its database, a general composite index, which measures the performance of the Arab financial markets combined, including the Iraqi market for securities as of September 1, 2019 link

MilitiaMan:  Then take a peak at some support in respect to the Oil & Gas. It includes Customs Revenue too. ~ MM

Kurdish Democrat: Kurds began to feel their partnership in the decision after the government of Mahdi LINK

Erbil is delivering oil and customs revenues to Baghdad   LINK  

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Hammy14:  How can they do this at 1190?  How can they do this without first announcing they are Article VIII?  This makes no sense at all with a restricted currency that is grossly undervalued.  It says as of September 1, 2019 to be in effect.  I would like for someone to explain how they can do this at a program rate, because this goes against everything we have been taught, IMO.  Surely, I'm missing something, but as it reads, I don't understand how they can do it.  

MilitiaMan:  IMO, they (Iraq) haven't gone live just yet. The data based is complete and ready for use. They are ready for Iraq when Iraq is ready. There are others already trading, Iraq needs to announce and lift the rate. There are thoughts of when that could happen posted today and from a collective from teams and Frank in the YTVs.. imo!~ MM

Yrmallmann:   They can do this with any rate... but as not as atractive as with a signficant rate increase and listed on FX for currency convertion (and for any financial transaction outside or even inside country).The rate increase will happen after the RI and article 8 acceptance (since iraq is transitioning). They may pass some laws (federal court act, article 140, hcl) this may allow them go into article 8... then launch the lower denoms... and with the delete the zeros reinstate the currency on the market bringing to us investors a good return with our 3 zero notes. Hope i had helped. Best Regards  

MilitiaMan:   They showcased the ISX with the NASDAQ months ago, yet to see a live connection and today we see the AMF having completed the calculation and the database for the financial markets with Iraq. The NASDAQhas rules and for stocks (securities) to trade on the platform need to be north of $2.00 USD in value and that requires when under $4.00 being standard. So, imo they cannot do it at any rate.. jmtc. When they go live we will be happy campers that I agree with.. lol

Don961:  3 economic events anticipated by investors in global markets

Tuesday 03 September 2019

Capitals / agencies

Investors in global markets are awaiting this week's US jobs report, along with comments from Federal Reserve officials on Friday.

Jobs report

The United States is set to unveil its jobs report for August on Friday. The US economy is expected to have added 4,000 jobs in August to 164,000 in July.

The unemployment rate is estimated to have stabilized at 3.7% in July percent.

US tariffs

A few days ago, the United States began to enforce the decision to implement tariffs on imports from China. The tariffs are part of a larger tariff package that Donald Trump aims to apply to imports from China worth 300 billion dollars.

The rest of the tariffs are due to be implemented in mid-December. China has responded to recent US decisions to impose tariffs on US imports worth 75 billion dollars.

When China decided to do so, Trump announced that the tariffs that had been activated would be increased to 15 percent, instead of the initially planned 10 percent.

Fed Statements

A number of Fed officials are talking this week to give their forecasts on the performance of the economy and monetary policy.

The most prominent speaker is Federal President Jerome Powell, whose comments will be released on Friday.

New York Fed Chairman John Williams, Boston Fed Chairman Eric Rosengren and St. Louis Fed President James Bullard are also due to make statements on the economy and inflation.

Also, the Federal Reserve is scheduled to hold a monetary policy meeting this month, amid high expectations of a rate cut.

At its July meeting, the Fed decided to cut rates for the first time in 10 years, from 2 percent to 2.25 percent.    link