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Tuesday, March 31, 2015

Tuesday News Summaries and Commentaries from Aggiedad77 - KTFA


KTFA:

aggiedad77 » March 31st, 2015, 11:05 am

Tuesday News Summaries and Commentaries


Iraq and Kuwait sign memoranda of understanding on joint oil fields and gas export

Iraq and Kuwait have met and talked about commonality in oil and gas interests especially in association with their common border fields.....you don't drill under our border and we won't drill under yours.....instead let's just share the wealth....

Let's sign a couple of MOU's....memorandums of understanding regarding our blending of border fields and a second MOU regarding imports of gas from Iraq to Kuwait....

These two actions are surely a positive show of unity between the two countries.

1,250 Fort Drum soldiers to deploy to Iraq, defense secretary announces

More US troops being deployed....to Iraq.....but O said we would stay out of there.....well it just goes to show you that some people can't always get what they want....Iraq is in need of training and we are capable of sending them our best in that regard and off they go....as they have for over 200 years....working with the world to bring freedom to so many....be proud of these young men and women who walk bravely into harm's way....may they excel in all they do and take the battle to the enemy of freedom.



Parliamentary Energy: We have received a letter from the government to adopt the draft oil and gas law in 2011

So some obscure member of the Energy Committee pops his head up and suddenly pronounces that the COM has sent over the draft of the oil and gas law from 2011 to Parliament.....I find this very difficult to believe......why?.....

I'm glad you asked....this COM led by PM Abadi prides itself in getting business accomplished, especially business that it has set out for itself.....and it wasn't long after they took office back in September that they announced the old versions of the oil and gas laws had received too much negative press and had far too many objections to the wording

So they felt compelled to have their committee start to work on re-writing the oil and gas law....it wasn't long after that that we saw agreement between Baghdad and Erbil on the Kurd part of oil and gas interests.....headway being made.....

So for the COM and especially PM Abadi to suddenly throw up their hands and say....we are simply sending you what was written in 2011....by a madman.....I am highly skeptical......let them prove me wrong...but until they do I stand on this ground.....IMO....this is not for real.

Parliamentary Finance: delays in the distribution of employees' salaries continue to July for lack of financial liquidity

Finance Committee points to the delay of salary payments in March, again due to liquidity issues and they are claiming this may be a month by month occurrence out to at least July.....by then there should be witness to significant oil export increases as to help with the liquidity issues.

Ki-moon expressed his happiness about the progress in relations between Baghdad and Erbil

The man in the moon is happy....well at least Ban ki-Moon is happy.....from the stand point of the UNSC with the development of things between Baghdad and Erbil.....he likes their open dialogue and continued talks regarding oil and gas issues......talk talk talk.....let's see some real action though.....he also likes the attention being given to the displaced citizens and families who have been impacted by the terrorist threat DAASH.

Conscious / Rasheed Bank announces the continuation of work off the advances of personal housing loans

Rasheed Bank continues to offer small business loans to certain individuals who may qualify for them.....but they have stopped advances of salary until further notice....claiming liquidity issues as the primary reason for halting this operation.

Kurdistan Parliament: Turkish loan for Kurdistan does not include interest


So this elusive $500 million dollars that is supposedly being loaned by the Turkish government comes with no interest attached to it....but it also has no delivery date.....so the Kurds sit empty handed at this point.

Interior Announces Tharirba presidential palaces in Tikrit

The Interior Minister announced today that all of the Presidential Palace facility has been freed from control by DAASH....a great number of suicide bombers were killed today and many vehicles were destroyed in the retaking of the Palace.

Parliamentary Economy: salaries of state employees and a network of care cost the state 51 trillion dinars per month

A member of the Committee on Economy and Investment claims that salaries and benefits to state employees costs Iraq some 51 trillion dinars per month.....according to this person Iraq is committed to paying that....but if they are so committed to it....why are they so behind in this effort and working month to month and basically delaying payments....denying payments to their employees....liquidity issues...I know....we've heard.....

But what can you do about the problem....you claim you are trying to reactivate the private sector....and many other industrial sectors as well....all at the same time you try to raise export numbers for oil.....

Maybe you need to look at things in a different light....through "green" glasses...."green" shades that are meant to "lift" you to a higher level.....just saying here....if you want to change the way you live and work....you need to change the way you live and work....it is not rocket science.

The launch of the first batch of the benefits of social protection category {men}

March 30 saw the launch of first payments of benefits to those entitled to social benefits for January, February, and March.....this money is being delivered via smart cards....supposedly covering more than 875,000 families.

Parliamentary Finance: The federal government pays dues region as the amount of oil exported

According to a member of the Finance Committee, the federal government will continue to pay the Kurds according to the amount of oil exported from the region.....politics are being battled here between the two entities.....the Kurds have a very clear part of the 2015 budget it is called 17%.....and does not relate to what they export...simply says 17% of the budget....stop twitching the rules people and sit down and look eyeball to eyeball and work out the real deal.....IMO....the Finance Committee is as guilty as anyone of muddying the waters in this whole ordeal over the oil and gas issues.

Regarding the article ‘$31.4 mil. missing from HSBC’, Kurdistan’s oil bribery case

The Korean oil firm KNOC is denying any wrongdoing between them and the Kurdish oil ministry....claiming that what they paid was an agreed upon amount done in accordance with international oil and gas practices.....perhaps there are some who are not so privy to those practices that would be led to think of the action as being a bribe....maybe they need to have their ducks better grouped before making such allegations......bonus' are paid in this industry and as such this effort was done in accordance with international expectations and within the realm of anti-bribery laws.....sometimes the pig squeals the loudest when it thinks that some other entity might be getting more than he himself is receiving.

Banks managers directing a distress call to the Governor of the Central Bank, urging him to stop the "blackmail" general manager of investments for them


A number of bank managers are reaching out to the governor of the CBI asking for his intervention into a matter they claim is causing blackmail.....blackmail they claim is originating with the manager of investment within the bank....serious charges to say the least....will be interesting to see what kind of reaction this garners from the governor.

Advisor to the government: Rising Dollar serve Iraq and activates work and production sectors

Another economic advisor to the COM spoke out today reiterating what we've heard from Dr. Saleh....the rise in the dollar over the IQD is going to lead to more jobs and increased production within Iraq as other sectors are pushed to perform.....they are being pushed to levels that were not a concern in the past when oil prices were so high......thru the taxation and customs tariffs that will be applied to imports it will provide Iraqis with the opportunity to step up to the plate and work on their own swing....

Give them opportunities to bring about a resurgence of internal businesses and take some of the heat off the oil industry in time.....keeping in mind that many factors have gone into the real reason and driving force behind the rise of the dollar against the IQD.....

It's not all the CBI's fault.....there are far too many other variables in the equation to simply point a finger at one such entity....but now is the time to pull together for change that will help the overall economic reform process.

Urgent investment to activate the implementation of the projects and the adoption of the United Nations for the reconstruction of the liberated areas most prominent economic headlines of newspapers Tuesday Act

The enactment of the Investment Law is believed going to lead to the implementation of many projects and bring about help from the UN for reconstruction purposes of areas destroyed by DAASH and the fight against DAASH.....plus push for economic reform within Iraq.....

All the while the Oil Minister talks of poor management practices from the past is costing Iraq $14.5 billion dollars.....there is growing evidence of the poor management techniques that were propagated by the former government at the expense of Iraq as a country and the Iraqi citizens....shame on them....now faced with ever mounting odds against them, as the price of oil crumbles....as their economy crumbles...

The new government has to find a way to rebuild the walls of Iraq....reminds one of Jericho in so many ways.....it was done once....it can be done again.

Parliamentary Finance outweigh the return of the stability of the dinar exchange within weeks

Why is it that we forever hear from "members of committees" not the committee heads.....why is that.....are they afraid to put their names on these articles and information....or do they not share the same opinions as these individuals who repeatedly get their names in the press......here we have it being reported that the governor of the CBI is saying that stability will return to the IQD within weeks.....why won't the committee head make this statement....or even better.....let the governor speak for himself....this he said she says....gets old after a while....maybe just a part of plausible deniability I guess.

Kurdistan Parliament: balancing the region are the worst in a decade

It is being reported that the Kurdish government budget for 2015 is the worst they have seen in 10 years......the feds promise payments...but then speak of liquidity issues and shortages of money.....PM Abadi wants an agreement reached over oil and gas issues but all that can be seen is talk talk talk....President Masum wants the same thing....but progress slows...meanwhile work continues to free the area from the clutches of DAASH....Mosul seems to be next on the agenda now that Tikrit is out of the way....what happens now....how do you improve things.

Parliamentary Finance: The government appealed against the budget with respect to the interests of the people and reduce the privileges of officials

I have just one question....who died and declared the Parliamentary Finance Committee God over everything in Iraq.....some of their members act as tho their poop don't stink.....wrong move on their part IMO....

.COM and PM Abadi have publicly taken exception to a number of things that were written into the 2015 budget at the last minute.....these have been given over to the Federal Judiciary System for review.....yet the Finance Committee goes on saying and claiming...what we wrote is law....live with it.....

But at the same time it is now known that only 30% of the budget has indeed been implemented....likely what remains unimplemented has to do with the 17-19 articles that were questioned.

What a soap opera the Finance Committee is turning into IMO.....big push and shove act between the Executive branch and the Legislative branch....I hope the Judiciary can sort through things.

Government authorizes the Minister of Finance the authority to negotiate and sign a tax agreement with Kuwait

Part of the efforts within the COM meeting today included giving authorization to the Minister of Finance to negotiate a deal with the Kuwaiti's regarding taxes and sign this deal into being.....this will work towards the prevention of double taxation as well as prevention of tax evasion.

Frank you got any cookies you can spare.....it is time for tea and cookies.....a break.....we are best of buds right....and we share equally.....hand over a few cookies.....in the meantime will be watching for whatever else might transpire in the way of news for today.

Aloha Randy

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