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Thursday, January 31, 2019

KTFA & TNT: NEWS DISCUSSION, 31 JAN

KTFA:

Samson:  Abdul Mahdi: The next two days will witness the implementation of an important agreement with Jordan

31st January, 2019

Prime Minister Adel Abdul Mahdi on Thursday signed an agreement with Jordan over the next two days, adding that the agreement will provide thousands of jobs.

"The next stage will witness great economic openness on the regional and global environment. Within two days, an important agreement will be reached with Jordan ....

The next stage will witness great economic openness on the regional and global environment.  LINK

Iobey777:
  Not sure what we will see happen "within 2 days"...but it sure will be exciting and fun to watch and find out!!!!

DELTA:   WITHIN 2 DAYS .........I WILL GET THE PONYTAIL...ROTFL
....
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Samson:  Border Ports The customs license is a condition for the practice of customs work

31st January, 2019

The head of the Border Crossing Authority, Kadhim al-Aqabi, said on Thursday that no person is allowed to practice customs work unless he is licensed by the General Authority of Customs.

In a statement received by Al-Madar, Al-Madar said, "Within the field tours to the border port of Trebil, the head of the Ports Authority met with a group of customs clearance agents and listened to their problems which contributed to solving the dilemma of payment of customs duties and taxes in dollars. As a result of the absence of banking companies at the border crossing, Customs to the transfer of the dollar from the road and the prospects of exposure to risks and after contact with the Director General of Rafidain Bank Dr. Khawla Asadi '.

"It was agreed to accept the payment of Iraqi dinar or the dollar and the payment of service fees of 0.085% whether the payment of the customs clearance agent in Iraqi dinar or dollars, and thus brothers can lead agents to open accounts with Rafidain Bank and pay through Visa Card or payment by instruments. 

She pointed out that 'the penalty stressed that no one allowed to practice customs work unless it is licensed by the General Authority of Customs and charged the administration of the port and the departments responsible for the implementation of the instructions'.   LINK

KBC123:  The above Border Tax article (Post 113) looks very interesting!   Enforcing Taxes at Border; Making sure only "official agents" are collecting; and ability to pay either with Dinars or Dollars....  Wonder if those payments are in dinars or dollars at 1 to 1????
Iobey777:  I KNOW, Right?!!!!!!!!Sure seems like Iraq is about to have "AN ABUNDANCE OF FINANCE'!!!!

Samson:  Abdul Mahdi: The next two days will witness the implementation of an important agreement with Jordan

31st January, 2019

Prime Minister Adel Abdul Mahdi on Thursday signed an agreement with Jordan over the next two days, adding that the agreement will provide thousands of jobs.

A statement issued by the Office of the First Deputy Speaker of Parliament Hassan al-Kaabi received a copy of it that the latter "visited the Prime Minister Adel Abdul-Mahdi at the headquarters of the Prime Minister," noting that "the two sides discussed a number of bills referred to the House of Representatives with a view to enacting the beginning of chapter Next legislative session. "

The statement added that "the laws were also reviewed to the government for the purpose of the amendment to suit the direction of the current government looking forward to a series of changes in the interest of the country and the requirements of the Iraqi citizen, and the process of follow-up MPs for their oversight work in ministries and the need to facilitate access mechanism to government headquarters."

"The next stage will witness great economic openness on the regional and global environment. Within two days, an important agreement will be reached with Jordan on the export of oil and the opening of Trebil," the statement said. "This will provide thousands of jobs in the field of transport and services.    LINK
JJonesMX:   Why is Jordan so important?   Because of this IMF article IV consultation 2017 ( 24 month meeting  mandated)  shown  below...

Section 2, and currently maintains one exchange restriction and one multiple currency practice

(MCP) subject to Fund approval under Article VIII, Sections 2(a) and 3.

The exchange restriction arises from an Iraqi balance owed to Jordan under an inoperative bilateral payments agreement.

Page 122 of pdf

Blessings    *JJ*

https://www.imf.org/~/media/Files/Publications/CR/2017/cr17251.ashx

Jordan wins $40m deal to Furnish Projects in Baghdad

31st January 2019 in Iraq Industry & Trade News By John Lee.

The Jordan Furniture Exporters and Manufacturers Association (JFEMA) has reportedly signed a memorandum of understanding to carry out furnishing and interior works projects in Iraq, with an estimated total value of $40 million.

According to the Jordan Times, the work will include a project to furnish the largest commercial mall in Baghdad, as well as the capital’s largest hotel and residential apartment projects.

(Source: Jordan Times)

http://www.iraq-businessnews.c.....n-baghdad/
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TNT:

Harambe:  CNBC: Oil rises as US crude heads for best January on record https://www.cnbc.com/2019/01/30/oil-markets-global-economy-venezuela-i​n-focus.html?
JoeM:  We are recovering the world's stolen wealth. This is just the tip of the iceberg. #EndTheFed #goldStandard

Saudi Arabia Confirms $100 Billion Seized In "Corruption Crackdown" As Last Detainees Released

by Tyler Durden    Thu, 01/31/2019 - 09:06

It has been more than a year since Saudi Crown Prince Mohammad bin Salman ordered a sweeping "corruption crackdown" that involved arresting dozens of the kingdom's wealthiest and most well-connected businessmen and political elites and locking them up in an ad hoc prison inside the Riyadh Ritz-Carlton, according to the Financial Times.

Almost immediately after news of the arrests crossed into Western media, rumors that the detainees were being abused and tortured started filtering through as well. Images of dirty mattresses splayed across the floor of the same ballroom where MbS had only weeks earlier held his "Davos in the Desert" investment forum shocked viewers, as did reports that one detainee - reportedly a Saudi military officer - died during a particularly grueling interrogation session.

After dozens of detainees - a group that reportedly included Saudi Prince Alwaleed bin Talal - agreed to surrender billions of dollars in assets and cash, most were let go; others were moved to a more traditional prison where, according to the Financial Times, some are being held on corruption charges to this day. Others, including Mohammed al-Amoudi, a Saudi-Ethiopian businessman, and Amr al-Dabbagh, a senior executive, have only just been released as the crackdown officially came to a close.

In recognition of the end of the probe, the Saudi government has finally confirmed that, all told, the Saudi state yielded more than $100 billion during the crackdown.

And for the first time, the kingdom also released official numbers about the number of people who were detained, the number who settled and the number who have been referred for further prosecution after the kingdom "refused to settle" because of "existing corruption charges," per the FT.

Here's a quick rundown of the most salient details from the FT report:

MbS's statement on the crackdown: "The kingdom will continue its efforts to preserve integrity, combat corruption and empower law enforcement and other relevant state bodies so that they are able to effectively practice their role in preserving public funds."

The government summoned 381 people, including witnesses, as part of the crackdown, according to the Royal Court.

Settlements were reached with 87 after they confessed to the charges against them. Eight people refused to settle and were referred to prosecutors for further charges.

The attorney-general refused to settle with 56 people because of existing criminal charges against them.

Seized assets recovered included real estate, companies and cash.

The government believes the crackdown was "necessary" as the kingdom embarked on a raft of MbS's economic reforms.

Of course, thanks to the killing of Jamal Khashoggi and Saudi's involvement in the ongoing conflict in Yemen, the ruthlessness that MbS exercised during the crackdown has been largely overshadowed.

But if Saudi's oil production cuts fail to sustain the January rally in oil, and the kingdom is once again presented with the logistical challenge of filling a massive budget hole, we wouldn't be surprised to see MbS order another round.

https://www.zerohedge.com/news/2019-01-31/saudi-arabia-confirms-100-bi​llion-seized-corruption-crackdown-last-detainees

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