Word on the Street Monday 9/28/15
Jaafari, calls for the establishment of an international fund to support Iraq http://translate.googleusercontent.com/translate_cdepth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://samabaghdad.org/news.php%3FNewsID%3D10765&usg=ALkJrhiDZBbPN1J41jR2brctNp4sG0qorw
Foreign Minister Ibrahim al-Jaafari, Sunday, the European Union a greater role in supporting Iraq bayonet against “Daash”, and while pointing to the importance of establishing an international fund to support Iraq, the foreign policy of the European Union represented by Federica Mgrena confirmed that Iraq is an important country in the region’s stability. He said al-Jaafari’s office said in a statement “the agency Sama Baghdad News” received a copy of it, “Foreign Minister Ibrahim al-Jaafari met with the representative of the foreign policy, and the security of the European Union Federica Mgrena, on the sidelines of meetings of the General Assembly of the United Nations in New York,” noting that “the meeting, they discussed the latest developments on the regional and international arenas, and the positive role played by the European Union in the face of crises facing the region. ” He said al-Jaafari, according to the statement, “We are looking for a greater role for the European Union in supporting Iraq in its war against terrorist Daash gangs, especially the European Parliament voted to arm and support Iraq,” stressing that “terrorism behind the heavy legacy and we have to confront, and the establishment of an international fund to support Iraq.” He said al-Jaafari, that “the number of displaced people has risen despite the progress of the Iraqi forces against Daash, so we need to provide humanitarian assistance to alleviate their suffering,” noting that “Iraq is rich in multi-riches country, but it is going through exceptional circumstances represented a decline in oil prices, we need to pause for us to overcome the crisis. ” For her part, foreign policy representative, and the security of the European Union Federica Mgrena, “We will work on everything that would support Iraq, and the reconstruction of liberated cities”, saying it “will invite countries to support Iraq, and provide the necessary for families displaced supplies.” She stressed Mgrena on, that “Iraq is an important country in stabilizing the situation in the region.” And Foreign Minister Ibrahim al-Jaafari arrived, on Wednesday (23 September 2015) to New York to attend the session of the 70th General Assembly of the United Nations Security Council meeting, as well as to meet with a number of Arab foreign ministers and foreign to discuss bilateral relations.
Calls to speed up reforms in Iraq
Student Iraqi Foreign Minister Ibrahim al-Jaafari, the international coalition to carry out more raids on Daash organization, criticized the Iraqi politicians shorten the coalition in the fight against the organization. This comes at a time when the supreme religious authority called on the government to speed up reforms, pointing to the possible return of wider demonstrations in case of ignoring the reforms .. correspondent Ashraf Mohammed al-Azzawi and details.
Parliamentary economy calls for educating young people and institutions for the advancement of the country’s economically http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://alforatnews.com/modules/news/article.php%3Fstoryid%3D96012&usg=ALkJrhjdAtm4k0_BnAh_dmmLuWtehrfOCw
History of edits:: 2015/9/27 15:14 • 102 visits readable
{Baghdad: Euphrates News} called on the Chairman of the Parliamentary Economy and Investment, Harith al-Harthy, to educate young people and government and private institutions and civil society organizations, to be able to economically rejuvenating the country from this side.
He said Al-Harthy told {Euphrates News} that “the economic crisis taking place in Iraq at the present time, you need a political study the economic reality of the country, which is to educate young people and society in general economically educated, to be able to investment promotion appropriately and who will return positive results for the progress of the economy.”
He added that “economic openness, will lead to motivate citizens to develop their abilities and transform the economy from a broken economy to open to other countries, the economy and the most capable to develop itself,” pointing to the need for the establishment of economic studies courses and education is the involvement of all government institutions and youth organizations concerned to develop a plan and footprint of the new economy Iraqi “.
And confirmed by the Supreme religious authority in earlier on the importance of revitalizing the agricultural and industrial sectors, stressing that the weakness of economic planning, and the lack of an integrated strategy to provide financial resources for the country is the development of oil prices aspect of corruption.
He said the parliamentary committee economy in the twenty-fifth of this month that “the loans granted by the government to revitalize the industry, agriculture and housing sectors will contribute to moving the medium and vulnerable Logs owners will also contribute to the construction and investment process.”
As for the advantage in the economic experts in the revitalization of the country’s economy showed that the “experts did not give us any service in the development of strategic plans for the advancement of the country’s economy. Ended and
Deputy for the National: the Kurdistan region did not abide by the oil agreement signed between Baghdad and Erbil http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://alforatnews.com/modules/news/article.php%3Fstoryid%3D95994&usg=ALkJrhi9v9WJcjCQpkRj_DvYmoYKTqnthg
History of edits:: 2015/9/27 12:15 • 109 visits readable
{Baghdad: Euphrates News} accused the National Alliance MP Razak al-Haidari, the Kurdistan region of failing to honor the oil agreement signed between Baghdad and Erbil.
He said al-Haidari told the News} {Euphrates today that “the problem of the export of oil between Baghdad and Erbil can not be solved at the present time, he said, adding that” the region benefited from the circumstance that the country is going through and work on the export of oil in isolation from Baghdad. “
He noted that “the Kurdistan Regional steals the bounties of the Iraqi people through the export of Kirkuk oil is agreed quantities within the oil agreement between the two parties, noting that” the Government of Arbil has not adhered to the agreement signed between the governments of the center and the region. “
He pointed out that “the region exceeded the powers and agreements concluded and work on the export of large quantities of oil, taking advantage of this situation, which is going through, saying that” if the province is serious to be part of Iraq to respect the Constitution and the agreements concluded. “
“The public budget is considered important within the law and received Erbil agreed quantities of oil to SOMO.”
The Ministry of Natural Resources in the Kurdistan Regional Government, earlier, for continuing to export oil despite a decision by a US court hail resumption by the Government of the Kurdistan against a lawsuit brought by the central government.
It is noteworthy that the federal government, filed a lawsuit in a US court over the past year in 2014, to stop the sale of a shipment of one million barrels of oil of Kurdistan
And it rejected the US Court of Appeals Fifth Circuit in New Orleans, last Monday, a lawsuit from the Kurdistan Regional Government to cancel a previous ruling against a planned deal to sell a shipment of oil to the source is unknown in the United States. And ended
Joint Operations: Iraq participates with representatives from the military intelligence security cooperation quartet http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://alforatnews.com/modules/news/article.php%3Fstoryid%3D95991&usg=ALkJrhilzqHFGqJL4sirY1gwWf-lEb-UNQ
History of edits:: 2015/9/27 9:44 • 55 visits readable
{Baghdad: Euphrates News} Joint Special Operations Command announced the participation of representatives from Iraq’s military intelligence in security and military cooperation with Russia, Iran and Syria in Baghdad to eliminate “Daash”.
The command said in a statement the agency {Euphrates News} received a copy of it, today, said that “Iraq’s form over the past months, several committees for cooperation in the security and intelligence spheres with the countries expressed their willingness to cooperate with Iraq in the fight against terrorism and the fear of the expansion of terrorist Daash gangs.”
She added that “this cooperation is sometimes with individual countries and with the countries combined Other times, there is security cooperation intelligence military with the international coalition, which includes 60 countries stand with Iraq in the fight against Daash, as well as security cooperation and intelligence with individual countries, including Jordan, Turkey, Egypt, Germany and France are interested in in cooperation with Iraq’s intelligence and security in the face of Daash and his threat to these countries and the whole region. “
She also agree on security intelligence co-operation in Baghdad, with both Russia and Iran and Syria to help and participate in the collection of information on the organization of Daash terrorist and its extensions, “pointing out that” it came up with the growing Russian concern about the presence of thousands of terrorists from Russia who are criminal acts with Daash “.
She stressed that “Iraq participates in this area with representatives from the military intelligence.”
He revealed diplomat, a military source in Moscow, on Saturday for an agreement between Russia and Syria, Iraq and Iran to create my information center in Baghdad, comprising representatives of the bodies of Staff of the armies of the four countries. End
Blessed and Highly Favored:
CBI Update:
The CBI will be closed today due to an additional holiday in Iraq.
ISX Update:
The ISX will be closed today due to an additional holiday in Iraq.
TNT Tidbits:
Elmerf123456 wrote It’s ok! Yes I posted the initial talk of the 120 hour window with the Chinese, but in truth I could care less about credit. Credit is nice, but what really matters to me as I’m sure others, is the finality of this process. I have trust in my sources as do others in theirs. All that matters really is that we can all smile, raise a glass with each other and state mission accomplished regardless of who gets credit for what. The only credit that matters is that we all hung in!
After reassuring the United States that its economy will be propped up by China, Obama has given his thumbs up to the inclusion of Renminbi into the IMF’s SDR basket of currencies. Renminbi is the official “people’s currency” of China; Yuan is the primary unit of that currency. This will pave the way for the exclusion of the fiat dollar from the global financial system in the coming days.
The Obama administration took a step toward backing China’s bid to have the yuan recognized as a global reserve currency, as the U.S. softened its insistence that the Chinese implement financial reforms to win support.
The shift in the U.S. position follows the administration’s failed attempt to prevent allies from joining the China-led Asian Infrastructure Investment Bank earlier this year, a strategy that was faulted by former policy makers including ex-Treasury Secretary Henry Paulson.
Winning the IMF’s endorsement would validate efforts by Xi to push through policies aimed at making the world’s second-biggest economy more market-oriented, boosting China’s prestige as it prepares to host Group of 20 gatherings next year. At least $1 trillion of global reserves will convert to Chinese assets if the yuan joins the IMF’s reserve basket, according to Standard Chartered Plc and AXA Investment Managers.
Friday’s shift brings the U.S. closer to the positions of the U.K. and France. In a speech Tuesday in Shanghai, U.K. Chancellor of the Exchequer George Osborne said he’d like to see the yuan added to the IMF basket as the currency becomes increasingly important in global markets and “meets existing IMF criteria.”
The gov never tells the whole story. I like what I’m seeing and the Market also heard China’s voice loud and clear.
I suspect we will see SOME green tomorrow.
Iko Ward wrote Seems to me the Pope has positioned himself to address the planet on many things outside the traditional boundaries of the church, as if he is an acceptable spokesperson for all things concerning our planet. Such a neutral and revered world figure could be very effective in bringing divergent powers together in compromise and resolution. One thing Tony has helped us develop is the ability to listen between the lines, put the pieces of the puzzle together, even when those pieces seem to be from different puzzles. Well, tonight will start the hard evidence. 8PM EST for Forex; 10PM EST for China Markets.
Iko Ward wrote Hi guys..it’s actually 1106.7, and if we take into account the strength of the dollar it’s actually as good as the 1105 rates we were seeing back in January. I was hoping to see proof of the CBI International Rate Rumor but that would have needed IMO a rate under 1100. But the night is still young, the week is in its infancy, so let’s see what develops.
TNT Bank stories:
mimirose wrote I have a bank story. My grandson’s maternal grandpa (dinarian) has a friend in Alabama who was at the bank and was standing in line behind an older, not so well dressed, and sort of dirty man and overheard him talking to the teller. He had a stack of dinar about 6 inches high and didn’t have a clue what it was. He had bought an old camper trailer and told her they were in the cabinet. She told him she couldn’t help him today but if he could come back Monday she could exchange them for him. Grandpa’s friend followed the man outside, explained to him what he had, got a contact number and told him she would contact him when she heard something. Hope this isn’t another false alarm but just wanted to share. First hand from other grandpa.
Blessedlady04 wrote Several months ago I opened several bank accounts to be ready for exchange. At Wells you can have a reoccurring transfer which keeps your business accounts active until you’re ready to use them. I had just enough money in these accounts to make the transfer from checking to savings back to checking one time each month to keep them active until RV. In August, my account showed that the transfer failed and my banker who had told me originally that his manager got an email about the dinar and it was a sure thing now tells me that he advises me to close those accounts because he is not sure about the dinar. I waited until the end of the month because I had already gotten a fee. I went in and my other banker who has dinar of his own advised me to close the accounts. So on Saturday my husband and I went in to close the accounts and one business checking banker was out getting married and the other one had an appointment and asked if I could come back on Monday. I told him I was going to be out of town the following week and he said just wait until the end of the month and see what happens. This afternoon after I got home from church I decided to check my banking online and the fees are gone. They were there yesterday. Could it be that we are this close and the manager of the bank has gotten another email to get ready? The manager knows I have dinar and he had approved fees to be removed from my account before but the last two months would not take the fees off forcing me to close my accounts or pay the fees. But now they are gone. And the funny part about it is I took the monies out of those accounts because I didn’t want the fees to deplete them. Well it shows that my reoccurring transfers for both of those accounts went through and are not to happen again until Oct 25th. Strange don’t you think. SOMETHING IS UP!!!!!!!!!!
Blogs:
firefly AML [Anti Money Laundering] is HUGE and was a must according to the WB and IMF. IMO it is the root for all the other international laws to come into fruition. I believe that the National Guard Law is just as important as the Investment Law. The HCL is huge for the people of Iraq but not needed for the monetary reform! The HCL is huge for the people of Iraq but not needed for the monetary reform! Question needs to be asked … What does the HCL have to do with a monetary reform? In country for the citizens it is enormous. Internationally…well it has absolutely nothing to do with it
POOF/ZAP THE GLOBAL RESET IS GAINING MOMENTUM. THE FINAL RELEASES WILL OCCUR AFTER THE FIRST WEEK OF OCTOBER, AND THEN WE SHALL SEE THE PHYSICAL MANIFESTATIONS BEGIN AS OPPOSED TO THE MULTITUDE OF INFORMATION SNIPPETS THAT FORM THE PUZZLE PIECES WE ALL TRY TO MAKE SENSE OF. THERE ARE MANY PIECES OF INFORMATION STARTING TO CIRCULATE NOW AS THESE EVENTS PROGRESS. THE RUMOR MILLS ARE GAINING STRENGTH AS REAL INFORMATION IS STARTING TO HIT RATHER THAN VAPORWARE. ONE CAN GLEAN MUCH FROM THESE SNIPPETS IN THE OVERALL CONTEXT OF WHAT IS HAPPENING, AND EVEN THOSE THAT CAN NOT WORK THEIR WAY OUT OF A WET PAPER BAG AND NEED A HAMMER HIT ON THE HEAD ARE WAKING UP TO THE NEW REALITY. GOVERNMENTS ARE ALL AT THE READY TO BEGIN THE GLOBAL RESET, AND THE NEW FINANCIAL INFRASTRUCTURE IS IN PLACE. THE BUTTON WILL BE PUSHED REAL SOON AND RUMOR HAS IT AFTER THE CHINESE HOLIDAYS. SO LOOK TO OCTOBER FOR THE START. THE TRN, WHICH NAME IS STILL IN DOUBT TO MANY, HAS BEEN IN THE BANKS FOR WELL OVER A YEAR NOW. THIS WILL BE THE CHOICE OF THE COMPENSATIONS AND THE EXCHANGES OF BOTH HISTORIC ASSETS AND THE CURRENCY. HOWEVER, MODULATION TO OTHER CURRENCIES IS AVAILABLE BUT TIME WILL TELL WHICH WAY THAT WILL WORK OUT.
Elmer:
Abadi acknowledges the difficulty of reforms .. and his opponents within the Shiite House are preparing to pounce upon him but he is not hindered in spirit or resolve. After nearly two months of demonstrations calling for reform in Baghdad and central and southern governorates, conflicting opinions and attitudes about the size of these demonstrations and personal interviews done by Abadi and the nature of the mandate of Prime Minister Haider al-Abadi, as well as to the parties to many, especially within the National Alliance and the general Shiite House , especially from opponents within the leadership of al-Abadi call backed by prominent leaders in the leadership of the popular crowd armed factions and militias loyal to Iran, the decline in the demonstrations, Abadi acknowledged for the first time because of the difficulty of implementing reforms and the corruption. Abadi, who had talked himself into a meeting with a number of military leaders from what he called a lack of clarity in the mandate given to him by the demonstrators, did not refer to the support and assistance which has by Najaf, which began to collide as Shiite political beginnings to say to the political leaders in the Shiite centers involved with corruption, which is designated by mafias of corruption, and the majority of these are linked one way or another to his predecessor, Nuri al-Maliki, and some of the leaders of the Dawa Party, who did not attend Balebadi after assuming the presidency and someMinisters remain loyal to the owners. Two days after the complaint, Abadi, the lack of a clear mandate to him which was denied by the religious authority implicitly during a sermon last Friday, the office approved of what is the most dangerous, as announced by the media, his spokesman Saad al-Hadithi, in a press statement that the Prime Minister «collided with figures and mafia corruption affected by reforms! Sabri added that al-Abadi “when he talks about the difficulty of reforms” is not intended that he disavow or retract these reforms in anyway, but wants to send two messages: The first public opinion and the citizens that he will not back down through the process! The second..to the Parties and those seeking or trying to block reform approach and put obstacles in the way of the Prime Minister in this direction, but he will not back down and is moving forward at all costs! Abadi himself said recently said that «the reforms may cost us our lives and that alternative is by dictatorship and chaos», adding that «reforms remain to reform the political track, and we’re going to do it!
Elmer
Artmeister:
YESTERDAY WAS FILLED WITH MUCH INTEL AND ALL SOUNDED VERY EXCITING. STILL DOES AND SURE SOUNDS LIKE TODAY SHOULD BE THE MAJIC DAY AND IF NOT, TOMORROW FOR SURE. ALL INFO TOO SENSITIVE TO SHARE, BUT JUST KNOW THAT WE ARE FINALLY AT THE END OF THIS RIDE. WATCH THE DEALERS SITE IS THE ONLY CLUE I WILL GIVE. ARTMEISTER
Prophetic Princess: Pope here for Global Settlements, Debt Forgiveness and Prosperity for all!
Kauaihn:
GLOBAL
The More Yellen Talks Up Inflation, the Less Traders Believe Her
The bond market isn’t buying what Federal Reserve Chair Janet Yellen is selling on inflation.
To read the entire article, go to http://bloom.bg/1P0nj6Y
OIL
Shell Abandons Disappointing Offshore Alaskan Well Thank you stuckman
By STANLEY REEDSEPT. 28, 2015
LONDON — Royal Dutch Shell said Monday it would stop exploration off the coast of Alaska “for the foreseeable future.”
The decision came after the Burger J well, which the company drilled this summer, produced disappointing results. The company said the well “found indications of oil and gas but these are not sufficient to warrant further exploration” of the Burger prospect, a geological structure.
Shell said that the decision reflected not only the disappointing results from the well but “the high costs associated with the project and the challenging and unpredictable federal regulatory environment in offshore Alaska.”
The decision also indicates that even though the oil industry believes the Arctic has major resources, the costs, a tricky environment and other risks are so high in the area that the hidden oil and gas will be difficult to develop if oil prices stay low.
Stopping drilling in offshore Alaska is a major disappointment for Shell, whose executives thought they had locked up a potentially huge trove of oil there. In July, Ben van Beurden, Shell’s chief executive, said that the area where the company was drilling in the Chukchi Sea, 150 miles offshore, “has the potential to be multiple times larger than the largest prospects in the U.S. Gulf of Mexico.”
At the time, Mr. van Beurden also said that Shell would not learn enough from one well to figure out how much oil and natural gas was in the area unless the results were very disappointing.
“Shell continues to see important exploration potential” in offshore Alaska, Marvin E. Odum, the company’s head of exploration and production, said in a statement. “However, this is clearly a disappointing outcome.”
The Alaska operations have cost billions of dollars. Shell said the value of Alaska drilling on its balance sheet was $3.1 billion, and that it had a further $1.1 billion in contractual commitments, probably for items like drilling rigs. The company said it would take write-offs as a result of the decision to halt drilling.
CURRENCIES
Biggest Yuan Reforms in a Decade Did Little for China’s IMF Push
China’s biggest exchange-rate reforms in a decade have had little impact on the yuan’s chances of winning reserve status at the International Monetary Fund, with questions still being asked about the extent to which the currency has been freed.
To read the entire article, go to http://bloom.bg/1FBtmg8
Yen Gains Amid China Growth Concern as Spain Bonds Rally on Vote
The yen gained against major peers after Chinese industrial profits slid the most in at least four years, underscoring growth concerns in the world’s second-largest economy.
To read the entire article, go to http://bloom.bg/1QHAUhY
Dollar Holds Gain as Focus Returns to Signs of Economic Growth
The dollar held gains from its best week since July as investors look for further signs that the U.S. economy is strong enough for the Federal Reserve to raise interest rates by the end of this year.
To read the entire article, go to http://bloom.bg/1FC6zkk
Zambia Seen Moving to Prop Worst Currency Performer in 2015
The Bank of Zambia will probably move to arrest a slide in the kwacha, which has depreciated against the dollar by more than any other currency this year, according to Ridle Markus, an analyst at Barclays Plc’s African unit.
To read the entire article, go to http://bloom.bg/1R5g2Sn
USA
U.S. Stock Futures Sink After Biotech Rout as Yen, Bonds Revived
A sense of trepidation crept back into financial markets, with U.S. index futures signaling a continuation of Friday’s drugmaker-led stock losses, while haven assets from the yen to Treasuries returned to favor.
To read the entire article, go to http://bloom.bg/1QHAUhY
EMERGING MARKETS
ASIA
Nikkei drops 1%, rest of Asia mixed ahead of China data Asian equity markets started Monday subdued as investors await key data from the world’s second-biggest economy.
Read more: http://www.cnbc.com/id/103029580
Asian Stocks Swing Before China Data; Japanese Shares Retreat
Asian stocks fluctuated, with the regional benchmark index on course for its worst quarter in four years, as investors awaited data on Chinese industrial profits. Shares in Japan slid.
To read the entire article, go to http://bloom.bg/1iV6myW
Japan Stocks Drop as Over 1,000 Topix Members Trade Ex-Dividend
Japan’s stocks fell, after the Topix index capped its sixth weekly decline in seven weeks, as
More than half the companies in the measure traded without the right to receive the next dividend.
To read the entire article, go to http://bloom.bg/1h13cYy
China Industrial Profits Fall Most Since 2011 as Growth Ebbs
Chinese industrial companies reported profits fell the most in at least four years as the pillars of China’s infrastructure-led growth model suffered from a devalued yuan, a tumbling stock market and weak demand.
To read the entire article, go to http://bloom.bg/1RayskI
EUROPE
Bank of America Seeing Life Signs in Russia’s Foundering Economy
Bank of America Corp. is starting to see faint signs of an economic recovery in Russia.
To read the entire article, go to http://bloom.bg/1YIXcpf
BOE Sees Challenging Outlook for U.K. Banks on Emerging Markets
The Bank of England said the U.K. financial-stability outlook “remains challenging” as increasing risks to the system from emerging markets offset its improved resilience.
To read the entire article, go to http://bloom.bg/1NQtHg5
Articles from Deb
China vow billions of development dollars, debt forgiveness
UNITED NATIONS (AP) — China’s president on Saturday pledged billions in aid and said Beijing will forgive debts due this year in an effort to help the world’s poorest nations, as world leaders begin to seek the trillions of dollars needed to help achieve sweeping new development goals.
To Read WHOLE ARtICLE CLICK ON URL BELOW
Global stocks lower ahead of China, US data
Global stocks lower after Wall Street loss as investors await China, US data
BEIJING (AP) — Global stocks were mostly lower Monday following Wall Street’s loss last week as investors looked ahead to Chinese and U.S. economic data.
KEEPING SCORE: In early trading, France’s CAC-40 slipped 0.6 percent to 4,454.01 and Germany’s DAX dropped 0.6 percent to 9,633.26. Britain’s FTSE 100 fell 0.4 percent to 6,086.14. On Friday, the CAC 40 rose 3.7 percent and the DAX gained 3 percent, while Britain’s FTSE 100 added 2.5 percent. Wall Street looked set for gains, with futures for the Dow Jones industrial average and the Standard & Poor’s 500 up 0.3 percent.
CHINA, US OUTLOOK: Investors who worry China’s economic downturn might deepen were looking ahead to purchasing managers indexes Thursday for manufacturing and service industries. A private measure of U.S. payrolls is due out Wednesday, followed by government employment data Friday. Analysts see no signs the U.S. labor market is weakening after the Commerce Department raised its estimate of economic growth in the April-June quarter. That could help to support sentiment in the U.S. Federal Reserve in favor of an interest rate rise by the end of this year.
THE QUOTE: “Investor attention will turn to the macro this week,” said Michael McCarthy of CMC Markets in a report. “The big news will flow from China and the USA. Concerns about economic growth in China make this Thursday’s official and private PMIs crucial. The manufacturing and non-manufacturing data will drop side by side, offering a snapshot of where China stands right now. On Friday, U.S. non-farm payrolls will speak directly to the potential for an October rate rise.”
ASIA’S DAY: Tokyo’s Nikkei 225 index fell 1.3 percent to 17,645.11 and Singapore, Bangkok, Manila and Jakarta also retreated. Sydney’s S&P/ASX 200 rose 1.4 percent to 5,113.50 and the Shanghai Composite Index gained 0.3 percent to 3,100.76. New Zealand also advanced. Markets in Hong Kong, Taiwan and South Korea were closed for holidays.
CHINA PROFITS: Profits at China’s major industrial companies declined by 8.8 percent in August, government data showed, in a new sign of weakness in the world’s second-largest economy. The National Bureau of Statistics blamed declining prices, shrinking investment income and depreciation in the country’s yuan. Economist Yating Xu at IHS Global Insight said consumer goods manufacturing is resilient but could suffer if economic growth falls further and drags on domestic consumption.
ENERGY: Benchmark U.S. crude was down 30 cents to $45.40 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 81 cents on Friday to $45.70. Brent crude, used to price international oils, shed 38 cents to $48.89 in London after rising 41 cents the previous session to $49.27.
CURRENCIES: The dollar declined to 120.34 yen from Friday’s 120.66 yen. The euro dropped to $1.1187 from $1.1195.
https://sg.finance.yahoo.com/news/global-stocks-lower-ahead-china-081823860.html
Saudi Arabia Has Withdrawn Billions From Markets, Estimates Show
China Financial Gauge Improves, Offering a Signal for Growth
Will the Yuan Win Reserve Status This Year?http://www.bloomberg.com/news/videos/2015-09-28/will-the-yuan-win-reserve-status-this-year-
Vietnam Refusal to Budge on Bond Yields Puts Growth Plan at Risk
http://www.bloomberg.com/news/articles/2015-09-28/vietnam-refusal-to-budge-on-bond-yields-puts-growth-plan-at-risk
S&P 500 Shows Pattern Similar to Start of Last Two Bear Markets
Europe Stocks Drop as China Industrial Data Renews Growth Fears
Tokyo shares sink as strong yen hits exporters
https://sg.finance.yahoo.com/news/tokyo-shares-sink-strong-yen-075628702.html
Asian Shares Mostly Down; Singapore Enters Bear Market
http://www.wsj.com/articles/japan-shares-fall-as-investors-rethink-likelihood-of-easing-1443408090
Finnish banks face risks from ailing economy
http://thestockmarketwatch.com/news/read.aspx/finnish-banks-face-risks-from-ailing-economy-market-watchdog
Worst Quarter in Four Years for Global Stocks
http://www.bloomberg.com/news/videos/2015-09-28/worst-quarter-in-four-years-for-global-stocks
Some euro zone banks don’t comply with governance standards: ECB’s Lautenschlaeger
The European Central Bank has found that a number of banks under its watch do not comply with international governance best practices, such as separating the audit and risk functions, an ECB executive board member said on Monday. MORE:http://www.reuters.com/article/2015/09/28/us-eurozone-banks-regulations-idUSKCN0RS0S120150928
Swiss Competition Body Probes Banks in Precious Metals Trade
Competition authorities in Switzerland announced an investigation into some of the world’s biggest banks, including HSBC Holdings Plc, on suspicion that they colluded to manipulate the prices of gold, silver and other precious metals. MORE:
Do Commodities Still Have Room to Fall?
http://www.bloomberg.com/news/videos/2015-09-28/do-commodities-still-have-room-to-fall-
Glencore Drops to Record Low as Investec Sees Value Evaporating
http://www.bloomberg.com/news/articles/2015-09-28/glencore-drops-to-record-low-as-investec-sees-value-evaporating?module=TopNews&position=1_headline
Shell Abandons Disappointing Offshore Alaskan Well
http://www.nytimes.com/2015/09/29/business/international/shell-alaska-oil-exploration-halt.html
Credit Suisse Warns of Oil Losses Pummeling Banks in Norway
Catalonia’s Push for Independence Falls Short of Majority
Dear Janet Yellen, Here Is All You Need To Know About The US Economy: True Unemployment Is Over 12%
US On The Ropes: China To Join Russian Military In Syria While Iraq Strikes Intel Deal With Moscow, Tehran
Is this because they are moving to the kept-hidden-and-soon-to-be-revealed energy tech?
The “Hard-Landing” Has Arrived: Chinese Coal Company Fires 100,000
Western Propaganda Machine Kicks Into Overdrive As UK Brands Assad “A Butcher”, France Bombs Syria In “Self Defense”
In “Sweeping” Interview, Putin Calls US Syria Strategy “Illegal”, Details Russia’s Support For Assad
“Nothing’s Safe” Passport’s Burbank Warns “The Liquidity Of Everything Is Being Taken Down”
Submitted by Tyler Durden on 09/27/2015 19:30 -0400
inShare7
Having warned that “we are on the precipice of a liquidation in emerging markets like the fourth quarter of 1997,” Passport Capital’s John Burbank sits down with RealVisionTV to discuss why “the Fed would eventually be forced into a fourth round of quantitative easing to shore up the economy.” Being among 2015’s best performing hedge funds, successfully navigating this turmoiling unwind of the Fed’s efforts to “mean-revert” the world’s assets back to normal, Burbank concludes, “nothing’s safe,” no matter what The Fed does, “the liquidity of everything is being taken down.”
“The market is now going to discover just how much liquidity [or lack of it] is actually in the market.”
“QE in Europe is not the same as QE in The US”
“There’s just not enough dollars out there… everything will be liquidated”
Click image below for link to brief RealVisionTV interview:
“What we learned after the financial crisis was that The Fed is able to reflate assets in The US and The World… for a time.
What The Fed learned was that their models don’t work – they didn’t have the GDP/Economic effect – and to interpret what they are doing,
I think they realize the more they do this, the more they can’t get out of it, and the more they pervert markets… and I believe they want to get out of it.“
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Full interview available here. – https://realvisiontv.com/videos/560181c1dbb9a4b77d5d043c
US APPROVES YUAN SDR INCLUSION AFTER CHINA ORDERS 300 BOEING PLANES
http://www.iraqinews.com/features/prime-minister-haider-al-abadi-heads-new-york-eid-al-adha/
Chairman of the Joint Chiefs of Staff Retires and hands power over to Gen. Joseph F. Dunford, Jr.
http://www.militarytimes.com/story/military/pentagon/2015/05/04/mar…
Catnip:
Tweet from PM Abadi (9-28-2015, around 5:30 am)
Prime Minister Dr. Haidar Abadi arrives in New York to attend the United Nations General Assembly.
ARTICLE 1
Monday is an official holiday in all departments and state institutions
BAGHDAD – Iraq-Presse – September 28 / September: General Secretariat of the Council of Ministers announced on Monday, the disruption of the official working hours in all government departments in the Iraqi capital Baghdad and all the provinces.
He said among the Secretariat, it was “decided to disable the official working hours, Monday, in all government departments in Baghdad and the provinces to the occurrence of the feast, on an official holiday.”
The statement noted that “always disable Monday, came to the occurrence of the feast, on the weekend, Friday and Saturday.” Ended O.h
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ARTICLE 2
Abadi head to New York
Dated: September 28, 2015
BAGHDAD / News Network Iraq left Baghdad in the early hours of dawn today to New York Prime Minister Haider al-Abadi at the head of a ministerial delegation to attend the meetings of the General Assembly of the United Altdh.oukal statement McNabb Prime Minister: that al-Abadi, “will deliver the word Iraq in the meetings of the Assembly will also hold a number of meetings with the leaders of countries dealing discuss strengthening bilateral relations and address the political, security and economic challenges and the war on terror Daash gangs “The statement added that the prime minister” will take part in the international conference to combat terrorism and to support Iraq in the face of terrorism, which will be held in New York of an international presence and wide. “
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ARTICLE 3
2015/9/27 19:29
Baghdad security: the success of the feast plan will reflect positively on the security of the capital
[Baghdad-where]
The head of the security committee in Baghdad Provincial Council, said that “the success of the security plan for Eid Al Adha will impact heavily on the security situation in the capital.”
He said Mohammed Jawabraua told all of Iraq [where]: “The special security plan feast prepared by the Baghdad Operations Command in cooperation with various other security devices, during which the focus on the intelligence effort, has achieved great success in maintaining the security of citizens during the days of Eid.”
He pointed out that “terrorist gangs was seeking to implement a number of terrorist attacks against tourist facilities and places crowded with civilians but security forces efforts bombarded with all sorts of devices prevented the implementation of these plans and fully thwarted.”
He added that the security forces “arrested a number of terrorists and raided a number of dens and additives that were Echtban out,” noting that “the intelligence service and the Baghdad Operations Command had a significant role in the deployment of security pieces in the capital Baghdad and in the belt, as well as the maintenance of the parties adjacent to the capital, especially for hot areas like Fallujah and the parties to the vine and Saqlawiyah. “
The Jawabraua: “All the Ministry of Interior participated in the planning and implementation of the Plan under the direct supervision of the interior minister and commander of Baghdad operations, as well as the use of sources that have been through a lot of frustration criminal schemes” .anthy
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ARTICLE 4
Abadi, officially announced the formation of a joint operations room with Russia, Iran, Syria
BAGHDAD, Iraq Press -28 September / September: Prime Minister Haider al-Abadi officially announced the formation of a joint intelligence operations room between Russia and Iraq, Iran and Syria.
Ebadi said during a televised speech on Monday, said that “Daash terrorist organization has become a threat to all countries of the world, including Russia, which comes dozens of Russians to fight in the ranks of Daash, and has become a threat to Europe and regional countries.”
He added, “In view of this we have established a joint operations room and several committees with Russia on the one hand and European countries On the other hand, we are going to break the power of Daash in Iraq and Syria.”
He revealed Joint Special Operations Command said in a statement, on Sunday, it has formed over the past months, several committees for cooperation in the fields of security and intelligence with the countries expressed their willingness to cooperate with Iraq in the fight against terrorism, and the fear of expansion terrorist Daash gangs into its territory.
The command said in the statement carried by military media cell, said, “This cooperation is sometimes with individual countries and with other combined Sometimes states,” pointing out that “there is intelligence security cooperation military with the international coalition, which includes 60 countries stand with Iraq in the fight against Daash, to along with intelligence and with individual countries security cooperation, including Jordan, Turkey, Egypt, Germany and France, is interested in cooperation with Iraq’s intelligence and security in the face of Daash and his threat to these countries and the whole region. “
The statement added, “it was also agreement on the intelligence and security cooperation in Baghdad, with both Russia and Iran and Syria to help and participate in the collection of information on the organization of Daash terrorist and its extensions, especially with the growing Russian concern about the presence of thousands of terrorists who are criminal acts with Daash,” pointing to “Iraq’s participation in this area with representatives from the military intelligence” .anthy (1)
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ARTICLE 5
2015/9/28 11:29
Rapporteur of the parliamentary Finance: 2016 budget will arrive in Parliament on the tenth of next month
[Where BAGHDAD]
He said the parliamentary finance committee that the decision of the budget in 2016 will reach the Parliament on time next month, the tenth of October.
And the Rapporteur of the Committee Ahmed al-Haj told all of Iraq [where] that “the 2016 budget reached the Council of Ministers and the need of the date of delivery on 15 September of this about 25 days for discussion, noting that” the House of Representatives awaiting the budget on time and then to parliament 25 days for discussion in the corridors and therefore, the House of Representatives has a specific power to carry and reduce costs. “
He added that “We must reach a legal budget on the tenth of October. As for the problems facing the budget said Haj that there is a deficit gap, which amounts to 29% and this is an obstacle a real front of the application of the budget, as well as that this breach the gap with international standards in terms indicate that he must exceed the budget deficit of 15% and this overtaking on international standards, poses a threat to Some budget items, including borrowing.
The draft of the Ministry of Finance for the 2016 budget submitted to the Council of Ministers last week, an expenditure of 113.5 trillion Iraqi dinars [US $ 99.65 billion with a deficit of 29.4 trillion dinars [25.81 billion].
The oil revenues which is equivalent to 69 Trliuna and 773 billion and 400 million Iraqi dinars, equivalent to about 83% of the total revenue conjecture 84 trillion dinars, equivalent to the value of the dollar 59 billion and 130 million Dolar.anthy
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ARTICLE 6
The closure of 60 restaurants west and south of the capital Baghdad because of cholera
Baghdad-Iraq-Presse -27 September / September announced for the Health and Environment Committee in the Baghdad Provincial Council, for the closure of 60 restaurants in the regions of Abu Ghraib, west of Baghdad, and Mahmudiya, south because of a cholera outbreak, while confirming that the situation is controlled until now.
The Chairperson of the Committee Nahida al-Tamimi said that “the competent authorities proceeded to close the restaurant in 60 districts of Abu Ghraib, Mahmudiyah, on Saturday, a result of a cholera outbreak,” pointing out that “a number of shops snow industry and water have long been close.”
Tamimi said, that “the cholera cases recorded so far controlled”, stressing the need to “concern over the supply of villages and areas where cholera drinking water appeared.”
The Ministry of Health and Environment announced, on Saturday, for the registration of 239 laboratory-confirmed cases of cholera epidemic, in the whole of Iraq, while suggesting to all cases similar to the healing .anthy (1)
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ARTICLE 7
Top GOP Official Calls for McConnell’s Resignation as Senate Leader
Date: September 27, 2015
With the news Friday that John Boehner was resigning, Louisiana GOP Chairman has called for the resignation of Mitch McConnell as Senate leader.
The Washington Times reported: With John Boehner now departing as House speaker, an influential Republican Party official is now seeking the ouster of another GOP leader who has frustrated conservatives: Senate Majority Leader Mitch McConnell.
“McConnell needs to resign!!” Louisiana GOP Chairman Roger Villere wrote in a Facebook posting. Mr. Villere isn’t just any Republican. He’s the longest-serving state GOP chairman in the nation, with 12 years on the job, and is the vice chairman of the Republican National Committee, the
