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Thursday, April 19, 2018

KTFA UPDATE, 19 APRIL

DELTA:   1195 & 1197 ......VERY NICE THE LOWEST IN THE MARKET SO FAR........HUGE...CBI SELL IT TO BANK AT 1190....THANK YOU SAMSON  
         
Samson: The dinar is down against the dollar in the local stock exchange

 19th April, 2018

The dinar exchange rate on Thursday recorded a decline against the dollar in the local currency market

According to the figures received by "Economy News", the price of buying the dollar in Baghdad today 120 thousand and 500 dinars and sale price 119 thousand dinars and 500dinars to 100 dollars
As for the South stock exchanges, the price of the purchase today at 120 thousand and 750 dinars, and the sale price 119 thousand and 750 dinars compared to $ 100
While the purchase price of the dollar on the North Stock Exchange today at 121 thousand, selling price 120 thousand to $ 100   LINK


Don961:  IMF warns of historical debt levels
 
 18 April 2018 11:43 PM

The International Monetary Fund (IMF) has warned that global debt will rise to record highs, stressing that the situation is worrying.

The International Monetary Fund (IMF) said in its report on Wednesday that the global debt rate reached unprecedented levels of US $ 164 trillion in 2016, equivalent to 225 percent of the world GDP.

Global indebtedness increased 12 percent relative to GDP compared with the previous peak period in 2009 led by China's indebtedness, the report said.

The average debt of advanced economies is 106 percent of GDP, which is unprecedented since the second war, according to the report.

The IMF said deficits and high government debt have become a source of concern, as countries with high government indebtedness are more likely to suddenly tighten global financing conditions, potentially jeopardizing their economic activity.   link
 
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Hilton:  Interesting timing for highest price in years.  Wonder why?? Seems like someone we know mentioned something like this.
 
Don961:  Brent crude exceeds $ 73 for the first time since 2014
 
18 April 2018 07:27 PM

Mubasher: Oil prices rose during trading on Wednesday, to rise Brent crude, above $ 73 a barrel, the highest level in about three and a half years.

Black gold received strong support from more than double the bearish data.

Official data showed US oil inventories fell by 1.1 million barrels in the week ending April 13, compared to expectations of 0.5 million barrels in the downward trend.

Crude prices have also benefited from mounting concerns over the lack of supplies caused by Venezuela's economic crisis, as well as the possibility of re-imposing sanctions on Iran by the United States over the cancellation of the nuclear deal between the two countries as the latter looms.

By 3:57 pm GMT, the benchmark Brent crude for June delivery rose 1.7% to $ 72.77 a barrel.

Benchmark crude jumped to $ 73.41 a barrel earlier in the session, its highest since November 2014.

During the same period, US NYMEX crude futures for May delivery rose 1.7% to $ 67.65 a barrel.

US crude hit $ 68.45 a barrel earlier in the session, also the highest level since late 2014.  link

Aggiedad77:  OH SO INTERESTING.....WHY DO YOU THINK THIS TO BE THE CASE.....THINK ABOUT WHAT IRAQ'S BUDGET SAYS ABOUT OIL....OK SUPPOSEDLY SAYS ABOUT OIL......$45 OR THEREABOUTS RIGHT......

I'M SURE SOMEONE WILL PINPOINT THAT FOR ME, BUT IT.....MATTERS NOT......OIL TODAY WAS OVER $73.....NO THAT IS NOT QUITE DOUBLE.....BUT EVER SO CLOSE.....AND YES.....I'VE ALWAYS SAID THAT IRAQ'S ACTUAL PRICE OF OIL THEY ARE PAID FOLLOWS THE BRENT CRUDE PRICES JUST AS DOES THE WEST TEXAS INTERMEDIATE PRICE.......EVEN SO.....CAN YOU SEE WHERE FROM A BUDGET STANDPOINT THAT IRAQ WILL BE IN.....HIGH COTTON.....

I MEAN DEEP IRAQI TEA.....YOU GET THE PICTURE......BUDGET DEFICIT.....THEIR OWN BUDGET WILL SOON TAKE CARE OF ANY DEFICIT....IMO......WATCH HOW IT EVOLVES.....IF WE WILL EVEN BE WATCHING AT THAT POINT.
ALOHA   RANDY
 
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Samson:  Rafidain allocates a 3 million advance to retirees

19th April, 2018

Rafidain Bank announced on Thursday that the advance of three million dinars for retirees include civil and military

The bank's media office said in a press release received by "Economy News" that "the civil and military pension is included in the advance of three million dinars and can submit them through the electronic link (www.qicard.net/pla) ", noting that the grant of the advance without a sponsor and Rely on the original retired fingerprint   LINK
 
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Harley1:   Iraq:  "Hi, I'd like to buy your ONLY refinery please."

Morocco:  "Will that be cash or charge?"

Iroq:  "Do you accept toilet paper?"

Morocco:  "DEAL!"  (lol)

Don961:  Iraq plans to buy a refinery "oil" of Morocco

 18 April 2018 04:29 PM

Mubasher : Iraq announced its desire to acquire the refinery of the Moroccan oil by offering a bid to re-operate and exploit, after stopping production for more than two and a half years.
The refinery, which has a capacity of 200 thousand barrels per day, was closed in 2015 and a court decision was issued to place the company under judicial supervision. The Moroccan government said that Lamir is owed 13 billion dirhams and that its total debt is about 44 billion dirhams,

Earlier this month, an Iraqi delegation visited the site of the 200,000-barrel-per-day (bpd) oil refinery to assess the technical and financial conditions of LaSamir, according to Morocco's Media 24 newspaper.

With this offer, Iraq enters into competition with the UAE group Al Otaiba, which is also interested in acquiring and operating the only oil refinery in Morocco after the closure of the UAE company to a refinery in South America and trying to search for the alternative.
A British-led consortium is also offering a bid to buy the oil lasamir, guaranteeing the retention of all the jobs of the hired staff and scheduling the debts of the refinery, according to the Dow Jones industrial index of more than 30 US manufacturing companies on the New York Stock Exchange.

He said the legal adviser to the Iraqi Ministry of Oil, that Baghdad intends to sell its production of "Lasamir", if it won a deal to run the refinery, to the European Union, in compensation for the decrease in production in the fields of Kirkuk in northern Iraq.
He added that Iraqi oil has allocated between 200 and 300 million dollars to complete the purchase of the Moroccan oil refinery.
The impact of the drop in oil prices on the global market on the financial situation of the Moroccan refining industry, "Lamer", causing them to suffer significant losses due to the decline in the value of stocks, coinciding with the decline in sales due to the direct import of petroleum products at prices lower than the companies distributed.     link
 
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Samson:  Economist reveals the reasons for Iran's use of the euro instead of the dollar

09:16 - 19/04/2018  
 
Economic expert Daoud Abdul Zayer revealed on Thursday the reasons for Iran's shift in foreign transactions from the dollar to the euro, stressing that the latter currency is the main currency today in international transactions and the highest value of the dollar.

"Iran has used the main currency in international transactions, the euro rather than the dollar, where it can achieve significant economic gains because of that transformation," Abdul Zayer said in a statement. "Iran has succeeded in avoiding the impact of sanctions imposed by America , As its use of the euro will strengthen its economic position and away from the sanctions imposed on them.

He added that "Iraq's economy will not be affected by this transformation, despite the great trade exchange between Baghdad and Tehran, and on the contrary, where will increase trade between the two countries, especially that Iran will be able to open more in the new currency and eliminate economic sanctions imposed on them."

Iran announced yesterday its shift in foreign trade from dealing in the US dollar to the euro, which could be seen as a blow to the dollar and to the US economy after the sanctions imposed by Washington on Tehran after Iran's nuclear program.   LINK

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