Zig’s Place Chat and News Saturday AM 3-27-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

PeteV  Hi folks  i guess no rate??

Sheila  PeteV Hold on, it's coming!

PeteV  Cool

Zig   PeteV : GM...Please don't hold your breath waiting for a rate change...lol...Nobody knows a rate or date...hopefully SOMEDAY....

Xyz   The Financial Committee puts the final formulations on the draft budget  Money  and business  Economy News _ Baghdad  On Saturday, the Finance Committee held a new meeting to finalize the draft budget.

The Media Department of the House of Representatives said in a statement that Al-Iqtisad News received a copy of it, "The Finance Committee is holding a meeting to finalize the draft federal budget law for 2021."

According to the statement, "the meeting was attended by the ministers of finance, oil, planning, electricity, trade, construction, housing, municipalities, works, labor and social affairs, and the president of the Federal Service Council https://2knsuevick5ssh3o5gtxcrrfwi--economy-news-net.translate.goog/content.php?id=24608

Sheila  Zig Only an opinion - believe there are military timelines coming into play from March 23 until April 6. That's the basis of my opinion on the April 6 line of demarcation. Only an opinion and nothing more than that.

Xyz  Jan 20th and March 4th came with nothing happening .. conspiracy theorist failed big time .. Poor Z just saying .     Why are QAnon believers obsessed with 4 March? https://www.bbc.com/news/blogs-trending-56260345

Xyz  Al-Kazemi: We have made some achievements, but there are those who are trying to blackmail the state with false addresses and names

There is a global position on Iraq. Everyone wants to come here and contribute to the construction, and there are international delegations racing to visit Iraq.

We all have to work to achieve prosperity not only in Iraq, but in the region, and Iraq must play a role in this path. There are those who are trying to obstruct the return of Iraq to the international community and to the civilized society under titles that do not deceive people. https://www.nasnews.com/view.php?cat=56120&fbclid=IwAR2hj04_wJz2D9W-2XMwYtCA6eWBL40-ZaUY3bBPDrYiid1_6PLIRwuiCZc

Zig   From above article posted by @Z: "The return of Iraq to the international community"......That, folks, is what we are waiting for....

Xyz   New government statement regarding salaries and allowances in the 2021 budget and exchange rate adjustment

There is no truth to the statement quoted by me that the government is not bound by any change in the exchange rate by Parliament. A government spokesperson may not be stoned in absence of a possible change of exchange. https://baghdadtoday.news/ar/news/149233/A

Sheila  Zig Yes, that's great announcement about Iraq getting a seat at the adult's table.

Xyz  We now is back in 2011 when poor Z official became an IQD RV believer ... unlike @Kaperoni that changed into a floater ... lots of great development.

xyz Iraq to return Kuwaiti properties ... on Sunday http://www.arabtimesonline.com/news/iraq-to-return-kuwaiti-properties/

Sheila  Zig On or before April 6 is looking really good.

Xyz  Think Big: Why Broadening Negotiations Could Help Resolve the Kuwaiti-Iraqi Maritime Dispute https://carnegie-mec.org/2021/03/19/think-big-why-broadening-negotiations-could-help-resolve-kuwaiti-iraqi-maritime-dispute-pub-84119

Sheila  Zig Maritime Dispute? Well that's interesting.

xyz  Ahead of the budget session, the Kurdish delegation re-enters the discussion arenas https://alforatnews.com/news/قبيل-جلسة-حسم-الموازنة-الوفد-الكردي-يعاود-الدخول-لحلبات-المناقشة

butterfly  https://ninanews.com/Website/News/Details?key=895366

Central Bank: The new exchange rate has made significant gains

Thursday 25, March 2021 21:28 The Central Bank of Iraq confirmed, on Thursday, that the new dollar exchange rate has made great gains.

The Deputy Governor of the Central Bank, Ihssan Shamran, said, according to the official agency / conscious /, that "the bank pursues a quiet policy in the issues that people deal with from their viewpoints, and does not enter into discussions that affect expectations."

Shamran added, "The Central Bank believes that the new price has achieved great gains, the first of which is to enhance competitiveness in favor of national products, whether agricultural or industrial, in addition to strengthening the public finance resource, which is another goal of the decision."

He explained, "The matter requires strengthening the stability of this decision and not creating shocks that would disturb citizens and affect the sustainability of their activities. "

butterfly  xyz I was taught decades ago by a very smart man.....my father.....Liars stick with Liars, Liars are Thieves, Thieves stick with Thieves, Thieves are Criminals and....Criminals stick with Criminals........No truer words were ever spoken that have been true to this day.

butterfly  https://ninanews.com/Website/News/Details?key=895606

Parliament Presidency: The Kurdish delegation approved the proposal of the political blocs for the region’s share and for a change in the dollar exchange rate in the budget

Saturday 27, March 2021 17:17  The Presidency of the House of Representatives announced that the Kurdistan Regional Government delegation approved the proposal of the parliamentary blocs approved by the Parliamentary Finance Committee regarding the region's share in the 2021 general budget.

The Deputy Speaker of Parliament, Bashir Al-Haddad, said in a joint press conference, after the meeting of the Finance Committee With a government team of ministers, "The exchange rate was discussed and it was emphasized that the budget for this year should not be in debt," noting that "the government and most of the members of the Parliamentary Finance Committee keep the exchange rate in its current position and that the price of the dollar against the dinar should not be reduced." .

butterfly  He added that "a meeting will be held with the governor of the Central Bank and the formation of a joint committee from the government and parliament to discuss how to maintain the exchange rate without affecting market conditions and that the exchange is not within the budget." The meeting to reach an agreement to pass the budget. "

And on the share of the Kurdistan region in the general budget, Al-Haddad said, "The Kurdistan Regional Government delegation agreed to the text that was agreed upon with the political blocs regarding the region's share."

He explained that "the Parliamentary Finance Committee ratified this agreement and it has become an established article in the budget and cannot be tampered with or retracted in any way because it has become an article of law," noting that "

butterfly  https://ninanews.com/Website/News/Details?key=895597

Results of the Parliamentary Finance meeting with 6 ministers and the President of the Federal Service Council regarding the budget

Saturday 27, March 2021 16:34 The Parliamentary Finance Committee announced the results of its meeting with 6 ministers and the President of the Federal Service Council regarding the 2021 budget. The

meeting chaired by Deputy Speaker of Parliament Bashir Al-Haddad discussed in detail the terms and articles of the draft budget law.

And he stressed that the vote on the budget will be included in the agenda of tomorrow's session, Sunday.

The budgets of the service ministries and the disbursement doors for service projects were studied.

Al-Haddad stressed the importance of approving the budget because it affects the general situation and is linked to the work of ministries, service projects, and the provision of job opportunities for youth.

He called for dealing with high prices for foodstuffs and commodities and finding solutions and alternatives to the repercussions of the exchange rate.

And he called on the political forces to settle differences to reach consensuses that pave the way for passing the budget.

xyz  Iraqi dinar’s dollar peg will remain at current level: deputy speaker

Deputy Speaker of the Council of Representatives Bashir Hadad (File)

SULAIMANI — Deputy Speaker of the Council of Representatives Bashir Hadad said on Saturday (March 27) that the Iraqi dinar’s peg to the US dollar was discussed during a meeting of the Parliament’s finance committee and the federal Ministry of Finance and that the majority agreed that it would remain at the level set in the draft budget.

He said that the officials concluded that the benefits for the economy outweighed the negative consequences.

During a press conference, Hadad also claimed that the Region's budget share is not an issue preventing a vote on the legislation.

Last Friday, negotiators from the federal government and the Kurdistan Regional Government (KRG) appeared to reach an agreement about the budget, only to see it unravel the following morning. https://www.nrttv.com/EN/News.aspx?id=27080&MapID=2

xyz   @Kaperoni no float in the budget either

butterfly   https://ninanews.com/Website/News/Details?key=895606

Parliament Presidency: The Kurdish delegation approved the proposal of the political blocs for the region’s share and for a change in the dollar exchange rate in the budget

Saturday 27, March 2021 17:17 The Presidency of the House of Representatives announced that the Kurdistan Regional Government delegation approved the proposal of the parliamentary blocs approved by the Parliamentary Finance Committee regarding the region's share in the 2021 general budget.

The Deputy Speaker of Parliament, Bashir Al-Haddad, said in a joint press conference, after the meeting of the Finance Committee With a government team of ministers, "The exchange rate was discussed and it was emphasized that the budget for this year should not be in debt," noting that "the government and most of the members of the Parliamentary Finance Committee keep the exchange rate in its current position and that the price of the dollar against the dinar should not be reduced." .

butterfly  He added that "a meeting will be held with the governor of the Central Bank and the formation of a joint committee from the government and parliament to discuss how to maintain the exchange rate without affecting market conditions and that the exchange is not within the budget." The meeting to reach an agreement to pass the budget. "

And on the share of the Kurdistan region in the general budget, Al-Haddad said, "The Kurdistan Regional Government delegation agreed to the text that was agreed upon with the political blocs regarding the region's share."

He explained that "the Parliamentary Finance Committee ratified this agreement and it has become an established article in the budget and it cannot be tampered with or retracted in any way because it has become an article of law," noting that "

butterfly  https://ninanews.com/Website/News/Details?key=895611

Parliamentary Finance reveals to Nina the new job ranks in the general budget

Saturday 27, March 2021 17:45 The Parliamentary Finance Committee revealed the new job grading ceiling in the draft Federal Budget Law 2021, which will be submitted to the vote in the upcoming session of the House of Representatives tomorrow, Sunday.

The committee's rapporteur, Ahmad al-Saffar, said in a statement to the Iraqi National News Agency ( NINA ) that "there are no new job grades in the draft general budget law currently, only continuing with contracts, procedures, lecturers, administrators and technicians," noting that "the budget project presented by the government is to set grades. Employment within the movement of owners and the addition of a new workforce of about 321 thousand degrees.

He added, "The current data has changed a lot after the rise in oil prices in the global market and the financial abundance is achieved compared to the planned price of a barrel of oil of $ 45 in the general budget," noting that "the achieved abundance will finance all the financial deficit in the budget and use another part of it to determine new job grades." .

butterfly   He went on to say that according to the bylaws, it was agreed with the Presidency of Parliament that the draft General Budget Law 2021 is included for voting in a special session that is not part of the other agenda paragraphs. ”

The Presidency of the Council of Representatives decided that the voting session on the draft budget law will take place tomorrow, Sunday, at three o'clock in the afternoon. In view of the continuing discussions on the draft budget law and the need for final formulations of the articles of the draft budget law.

butterfly  https://ninanews.com/Website/News/Details?key=895546

Al-Rafidain announces the payment of the salaries of the education directorates via the electronic card

Saturday 27, March 2021 12:27 Al-Rafidain Bank announced that the salaries of the education directorates in Baghdad and the provinces will be paid today via the electronic card.

Sheila  @butterfly sage advice

butterfly sheila ?

butterfly  Sage gets rid of demons.

Butterfly  Notice the last two words in that last article.

Sheila butterfly "electronic card" -- is that the famous Qi Card?

butterfly Words matter. Unfortunately most don't recognize certain words, only what they want and assume what they have read.

Sheila butterfly Sage is one of my favorite spices/herbs. It naturally increases oxygen to the brain. Amazing. Guess that's why we pair it with turkey. Offsets the tryptophan effect.

Dave  gobble gobble.......i need sage

butterfly  sheila My brain is so full it needs a backhoe to empty it. sorry good not resist LOL

Sheila butterfly my cup runneth over

butterfly At my age there is no more room sheila

Dave  butterfly heard little on the currency auctions lately.....

sheila  butterfly Here's one for you. This showed up and cannot remember where yet it pinged by brainy thing: COL 1:13, For he has rescued us from dominion.

butterfly  Maybe because no one is posting the information Dave

Sheila butterfly Yep, my brainy thing adds but I now realize how much it knows how to subtract. lolol

Dave seen

butterfly  Dave While I was posting articles there was a great deal of information that people just scanned over.

Dave check myself too.....seen very little from CBI on that.....

butterfly WORDS matter! I can't say that enough. BUT remember Iraq does not use the same words as we do.....I still laugh about "bubble gum

Dave  yeah budget done tomorrow yeehaw!

butterfly Maybe and maybe not Dave

butterfly https://ninanews.com/Website/News/Details?key=895615

His Media Office: The meeting of the Finance Committee headed by Al-Haddad discussed the repercussions of the dollar exchange rate and price hikes

Saturday 27, March 2021 18:10 Deputy Speaker of Parliament Bashir Khalil Al-Haddad has retreated from announcing the approval of the Parliamentary Finance Committee on the exchange rate of the Iraqi dinar against the US dollar in the general budget.

Al-Haddad's media office denied what was circulated by some news agencies, platforms and social media sites about the agreement of the Parliamentary Finance Committee and the government in today's meeting chaired by Al-Haddad at the Al-Rasheed Hotel, indicating that "what happened regarding the exchange rate had its repercussions, problems, and price increases."

He explained that "there was an extensive discussion between the Parliamentary Finance Committee and the concerned ministers to discuss solutions and ways to address the issue of the exchange rate of the Iraqi dinar."

Dave  done done.... ,in the coming days fer years.now.......maybe!

butterfly  Dave LOL

butterfly  They are still "discussing"............lol

Dave  Kurds giving up that oil from the disputed territories........Guessing no chance?

Dave  Need a Supreme Court Ruling of the constitutionality of that......?

butterfly  You are in the bleachers wondering which team is going to win.

Dave  That game yet to even start.........

butterfly  Dave It has started many times they just can't find the line to stand on for the gun to fire.

Dave  lol

Dave have to agree on the judges........

Dave  no referees.......for the game,,,,,,yet?

butterfly  https://www.shafaq.com/en/Economy/Dinar-Dollar-hovers-near-yesterday-s-rates-amid-market-closure-in-Baghdad-and-Erbil Dinar/Dollar hovers near yesterday's rates amid market closure in Baghdad and Erbil 2021-03-27 03:48

Shafaq News/ Central Markets in Baghdad halted the exchange today, Saturday, due to weekly lockdown measures imposed during the weekends.

However, Shafaq News Agency correspondent knew that some local exchange shops were trading at 145,000 and 144,000 dinars per 100 dollars for selling and buying, respectively.

The official market in Erbil was also closed due to the official recesses.

butterfly This is a big problem, watch prices rise on everything: https://www.shafaq.com/en/Economy/Suez-Canal-blockage-delays-about-400-million-an-hour-in-goods Suez Canal blockage delays about $400 million an hour in goods 2021-03-26 11:16

Shafaq News/ The stranded mega-container vessel, Ever Given in the Suez Canal, is holding up an estimated $400 million an hour in trade CNBC reported according to shipping data and news company Lloyd's List.

Lloyd's values the canal's westbound traffic at roughly $5.1 billion a day, and eastbound traffic at around $4.5 billion a day. The blockage is further stressing an already strained supply chain, said Jon Gold, vice president of supply chain and customs policy for the National Retail Federation to CNBC.

The Suez Canal, which separates Africa from Asia, is one of the busiest trade routes in the world, with approximately 12% of total global trade moving through it. Energy exports like liquefied natural gas, Crude oil, and refined oil make up 5% to 10% of global shipments. The rest of the traffic is largely consumer products ranging from fire pits to clothing, furniture, manufacturing, auto parts and exercise equipment.

An alternative route, around the Cape of Good Hope on the southern tip of Africa, can take two weeks longer (more 9.56 thousand km), It means that the cost of transporting the goods will increase by at least $ 300,000.

butterfly On impact on oil prices, about two dozen ships could be seen from the shores of Port Said on Friday morning, according to a Reuters witness.

Oil prices rose over 3% on Friday as more than 30 oil tankers have been waiting on either side of the canal since Tuesday, shipping data on Refinitiv showed.

However, the delays come at a time of low seasonal demand for crude oil and liquefied natural gas (LNG), which will likely mitigate the impact on prices, analysts said.

The Ever Given ran aground on Tuesday as it sailed northwards through the canal on its way from China to the Netherlands with two canal pilots on board.

The blockage is creating long tailbacks in the waterway, with more than 150 vessels currently waiting in the area to pass.

The Japanese owner of the giant cargo ship that has been blocking Egypt's Suez Canal since Tuesday has apologized for the disruption to global trade.

Shoei Kisen Kaisha said it was trying to resolve the situation as soon as possible, but that dislodging the Ever Given was proving extremely difficult.

Evergreen Marine, the Taiwanese firm that operates the ship, said the ship "was suspected of being hit by a sudden strong wind, causing the hull to deviate from waterway".

“Salvage experts are working with the captain and the Suez Canal Authority to design a more effective plan for refloating it.” It added.

butterfly  https://www.shafaq.com/en/Economy/Oil-prices-rise-over-3-on-fears-Suez-blockage-may-last-weeks Oil prices rise over 3% on fears Suez blockage may last weeks 2021-03-26 10:31

Shafaq News/ Oil prices rose more than 3% on Friday, rebounding on concerns it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products.

Prices, however, were still headed for a third consecutive weekly loss, with the outlook for demand dented by fresh coronavirus lockdowns in Europe.

Brent crude was up $2.12, or 3.4%, to $64.07 a barrel at 1338 GMT, after dropping 3.8% on Thursday.

U.S. West Texas Intermediate (WTI) crude was up $2.16, or 3.7%, at $60.72a barrel, having tumbled 4.3% a day earlier.

Both benchmarks were on track for weekly losses, following a more than 6% decline last week.

Egypt’s Suez Canal Authority said on Friday operations to free the stranded container ship would resume after completing dredging operations, which are 87% complete.

The salvage company said on Thursday dislodging the ship could take weeks.

Of the 39.2 million barrels per day (bpd) of total seaborne crude in 2020, 1.74 million bpd went through the Suez Canal, according to data intelligence firm Kpler. Additionally, 1.54 million bpd of refined oil products flow through the canal, about 9% of global seaborne oil product trade, Kpler said.

On Friday, there were ten vessels waiting at the entry points of the Canal carrying around 10 million barrels of oil, Kpler said.

butterfly   Reeling from the blockage in the Suez Canal, shipping rates for oil product tankers have nearly doubled this week, and several vessels were diverted.

The oil markets were also lifted by worries over escalating geopolitical risk in the Middle East. Yemen’s Houthi forces on Friday said they launched attacks on facilities owned by Saudi Aramco.

Expectations that the Organization of the Petroleum Exporting Countries and its allies will likely maintain their lower production also supported prices.

Big oil importer India said Saudi Arabia telling it to tap its oil stockpiles to tackle high prices was “undiplomatic”.

Acting a week ahead of the OPEC+ meeting, Abu Dhabi National Oil Company (ADNOC) has deepened crude oil supply cuts to Asian customers in June to 10%-15% from 5%-15% in May, several sources said

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