Delta and KTFA Members Saturday Night "This is Huge" 11-3-18

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Delta and KTFA Members Saturday Night "This is Huge" 11-3-18 Empty Delta and KTFA Members Saturday Night "This is Huge" 11-3-18

Post  Admin on Mon Nov 05, 2018 12:58 pm



Don961:  Exceeded one billion dollars .. Tehran demands Baghdad to accelerate the payment of electricity debts

10:55 - 03/11/2018

Baghdad Mawazine News 

An Iranian official on Saturday called on the Iraqi government to speed up the payment of electricity debts to Tehran, which exceeded one billion dollars. "The Iranian company Tuaner, which is specialized in the management of the production, transmission and distribution of electricity, continues to pay with these debts." 

​"The Iraqi authorities should speed up the payment of electricity debts to Iran, which exceeded one billion US dollars," IRNA quoted deputy minister of energy and general coordinator of Tawanir Mahmoud Reza Hakki Fam as saying. 

He added that "Iran is in dire need of funds to sell electricity to Iraq," noting that "these funds and debt on Iraq accumulated and not debts today or yesterday." 

The Minister of Energy, Reza Ardakani, entrusted to the company "Tuanir" to communicate with the Iraqi government; to pay the debts of electricity sales to Iraq, "noting that" Baghdad is required to accelerate the payment of those debts, and that negotiations are underway in this Connection ". 

The Iranian official said: "The Iranian side is developing executive mechanisms to obtain electricity debt from Iraq." 

Iranian Energy Minister Reza Ardkani said in July that the suspension of the export of electricity to Iraq did not violate the terms of the agreement with Baghdad, and under the terms of the agreement give priority to the needs of the country. 

On August 21, the Iranian Energy Ministry announced the resumption of electricity supply to Iraq and other neighboring countries, noting that "the appeal came ten days ago and after the decline in domestic consumption." 

In early July, the Iranian government announced the suspension of electricity supply to Iraq, under the pretext of rising domestic consumption in the summer, as well as non-payment of bills.  is over     link  

MarkPam:  Wow!  So, just doing simple math let's use $3.00 as an exchange rate.  Again, we don't talk rates on this site but just for math purposes and a visual comparison.... "if" the rate was to speculatively be $3.00 then Iraq post RI would only be required to give 333.3M dinars vs. 1 trillion dinars...IMO "if" that is how Iran chose to remunerate this transaction.  Thank you Delta!


Don961:  Of Iraq exempt from sanctions provided that the dollar is not paid

BAGHDAD (Reuters) - The United States has told Iraq it will continue to import vital supplies of gas, energy and food from Iran after Washington reinstates sanctions on Iran's oil sector, three Iraqi officials said. Exemption from Iraq is contingent on Iran not paying the price of imports in US dollars, officials said, including a member of an Iraqi ministerial committee overseeing energy activities.

The Iraqi Finance Ministry has set up an account with a state-owned bank in which Baghdad will deposit the amounts owed to Iran for imports in Iraqi dinars, the official said on the ministerial committee.

In August, central bank officials said Iraq's economy was closely linked to Iran, making Baghdad ask for permission to ignore some US sanctions. Iraq imports vital supplies from its neighbor, including gas used in power plants.    link


Don961:   Washington to investigate Tehran from "Swift" and sanctions include 700 people and entity

- 16 Hours Ago

The United States has announced that it will return the day after tomorrow, imposing all sanctions on Iran, which was lifted after the conclusion of the nuclear agreement in 2015.

The sanctions include the addition of 700 people and entity to the US black list, and the exclusion of Tehran from the system, "Swift" International Remittances.

France, Germany, Britain and the European Union condemned the new US sanctions on Iran and expressed regret in a joint statement, saying they wanted to protect European economic players with legitimate trade ties with Iran.

Meanwhile, MP Amir Khajstah, head of the Anti-Corruption Committee in the Iranian parliament, warned that "corruption" is rampant in all ministries.

The head of the Civil Defense Organization, General Ghulam Raza Jalali, urged his citizens "to understand the circumstances and circumstances surrounding "Pointing out that" one of the strategies of the enemy is Iran's sails. "

US Treasury Secretary Stephen Manuchein, adding 700 people and entities to the US blacklist, announced a sanctions regime for the Swiss-based SWIFT if he provided services to Iranian financial institutions listed by Washington on the list. "Swift is no different from any other entity," he said.

He pointed out that tomorrow will be a list of financial institutions of Iran under sanctions, while US Secretary of State Mike Pompeo, allowing eight countries «weeks» to end imports of Iranian oil.

 Bombay said sanctions "are aimed at drastic changes in Iran's behavior" and added: "Maximum pressure means maximum pressure." But the two ministers said the sanctions were exceptions to purchases of a humanitarian nature.

And the eight countries temporarily exempt from US sanctions, Turkey, South Korea, Japan, India and Italy. "America will not be able to carry out any action against our great and courageous people," said Iranian Foreign Ministry spokesman Bahram Qasimi. We have the knowledge and the ability to manage our economic affairs ». "The possibility that America will be able to achieve its economic objectives through these sanctions is very long and it is unlikely that it will reach its political goals. The new sanctions will often have a psychological effect. "

Three Iraqi officials said yesterday that the United States had informed Iraq that it would continue to import vital supplies of gas, energy and food from Iran after the new US sanctions. The exemption would be conditional on Iraq not paying Iran the price of imports in US dollars.

"The US exemptions for the G8 countries show that the market needs Iranian oil, and that withdrawing from it is not possible," Ali Karadur, Iran's deputy oil minister, said.

A European diplomat said President Donald Trump was following Iran's "own war plan with Kim Jong-un and North Korea: sanctions, maximum pressure and then willingness to negotiate." "There are signs of panic (in Iran) as a result of a lack of medicine," said a Western diplomat. We are heading back to the old, tightly controlled economy of war. "

At the same time, Israeli Prime Minister Benjamin Netanyahu considered Iran a "major problem" and urged "a way to stop its hostile activities."

In another context, Khajstah addressed the Iranian ministers, saying: "Corruption is rampant in all ministries, and must start fighting it." 

He accused officials of "spreading corruption" to the banks and the customs administration, as individuals benefit from "special privileges." He criticized "refraining from presenting a written program capable of organizing turbulent economic conditions and market volatility." He spoke of a "new fashion": "Whenever a corruption file is raised, it is discredited, and it must be dealt with seriously."    link

Samson:  Information on the impact of the float of the pound on the Egyptian industry

 3rd November, 2018

Two years after the decision to liberalize the exchange rate of 3 November 2016, which had a significant impact on the Egyptian economy in general and industry in particular, the seventh day presents the top 10 information on how the Egyptian industry can benefit from the decision to liberalize the exchange rate.
- Float of the pound raise the competitiveness of Egyptian exports abroad.
- Increasing Egyptian participation in foreign exhibitions after availability of hard currency.
- Egypt's exports rose during the first year after the flotation of 12% to record 22.4 billion dollars.
- Significant increase in Egypt's foreign trade "exports and imports" following the availability of hard currency during 2017 and the first half of 2018.
- Expiry of banks 'exporters' waiting lists to meet the needs of major commodity imports.
- The benefit of industry through the availability of raw materials imported after the availability of dollar allocations.
- Stop dealing with manufacturers and exporters with the black market of the currency, which led to instability of manufacturing and export operations.
- Ending the suffering of the factories in providing dollar liquidity for the purchase of new production machines.  LINK

Samson:  National Bank of Egypt : $ 36 billion foreign exchange concessions since the liberalization of the exchange rate

 3rd November, 2018

Hisham Okasha, chairman of the National Bank of Egypt, said that the bank's proceeds from foreign currency concessions from its customers to the National Bank of Egypt have risen to about $ 36 billion since the exchange rate was released. Within two years.
On Saturday, November 3, 2016, Egypt's foreign currency reserve reserves, which are managed by the Central Bank of Egypt (CBE), rose to two-year highs on Egypt's most important economic decision in its recent history, the liberalization of the exchange rate, To about 25.46 billion dollars during the two years from the end of October 2016, until the end of September 2018, where enough about 8.5 months of commodity imports to Egypt, for the time being, to record assets estimated at 44.46 billion dollars, from the level of 19 billion dollars at the end of October 2016,

And that the pound against the US dollar is stable between 17.5 and 18 pounds per dollar over the two years.   LINK


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