Friday, September 8, 2023
Iranian official thanks Iraq, KRI for services rendered during Arbaeen, 8 SEPT
Iranian official thanks Iraq, KRI for services rendered during Arbaeen, 8 SEPT
Shafaq News / Hojatoleslam Mohammad Hasan Abu Turabi Fard, the temporary Friday prayer leader in Tehran, expressed his heartfelt appreciation to Iraq, both its government and its people, including the Kurdistan Region, for their unwavering dedication in providing services to the millions of pilgrims who participated in the Arbaeen Pilgrimage.
During his Friday sermon, Hojatoleslam Abu Turabi Fard declared, "The presence of over 4 million Iranian pilgrims in this epic has engendered yet another epic."
He further acknowledged, "The pivotal role played by the esteemed Iraqi government and the great Iraqi people in facilitating this extraordinary turnout is undeniable. Men, women, and youth, their pure hearts pulsating with zeal, have come together to honor the revered master, Imam Hussein, peace be upon him."
Hojatoleslam Abu Turabi Fard continued, "We extend our gratitude to the noble youth from various backgrounds, the popular and jihadist processions, within the Islamic Republic of Iran, and especially to the people of Kurdistan in Iraq, who enriched this grand humanitarian and emotional movement with their efforts and hearts filled with love for the Lord of Martyrs."
He went on to say, "The meticulous planning, worthy of praise by the statesmen of Iran and Iraq, alongside the military and security institutions, played an admirable role in this epic and is deserving of glory and acclaim."
Last month, a source in the office of Iraq's Prime Minister, Mohammed Shia al-Sudani, disclosed the Kurdistan Regional Government's participation by sending 100 modern buses as part of the government's plan to transport and accommodate pilgrims during Arbaeen.
The source stated to Shafaq News Agency, "The Prime Minister's office proposed the participation of the Kurdistan Regional Government in the transportation plan, and the proposal received support and cooperation from the President of the Region, Nechirvan Barzani."
The source clarified, "this year's transportation plan differs from previous years," highlighting that "the directives from al-Sudani entail the rental of approximately 1200 large buses, in addition to 200 smaller buses, to complement the existing fleet of over 2000 government buses and vehicles. Twenty-three trains will also be operated to prevent extortion and exploitation of pilgrims during their transportation to and from Karbala."
The Holy Shrines in Iraq reported last week that the total number of visitors who flocked to the holy city of Karbala for the observance of Imam Hussein's Arbaeen exceeded 22 million pilgrims.
Meanwhile, the Iraqi Red Crescent Society announced that it had provided services to more than 3 million Iraqi and foreign visitors during the Arbaeen ceremonies.
The Commander-in-Chief of Iran's internal security forces, stated two days ago that four million Iranian pilgrims had crossed into Iraq through the land and air borders of Iran to participate in the Arbaeen visit.
Prime Minister al-Sudani praised the Kurdistan Region's support for the Arbaeen observance, describing the number of participants as "unprecedented," with pilgrims exceeding 22 million.
"RV UPDATE" BY MARKZ, 8 SEPT
..we are starting to see changes in bank values etc. But, not an open trade on them yet...We have seen this in the past and it’s our theory that they are preparing the process when we see those rate changes. Is this the one where they actually pull the trigger???...
The banker side has a lot of anticipation for late this afternoon...We have bank personnel keeping us abreast if any of these currencies become “tradable”...We will see what materializes. [post 2 of 2]
There are interesting things showing on currency converters…from the Forbes one to the EIX…. There are some interesting values showing on many of our currencies...Investing in International Stocks, 8 SEPT
Whether you’re looking to strengthen your portfolio through diversification or create new avenues to explosive growth, international stocks can be an excellent component of your investment portfolio.
Expanding international economies, increasing productivity, and improving standards of living are creating a new global middle class. These trends suggest that the world’s most dramatic economic growth over the next century will occur outside the United States. Many investors should strongly consider allocating a percentage of their portfolio to stocks in international markets.
Five top international stocks in 2023
1. ASML Holding
Headquartered in the Netherlands, ASML Holding (ASML -1.43%) is one of the world’s leading providers of semiconductor manufacturing equipment. Beyond powering computers and mobile devices and providing the hardware foundations for big leaps forward in artificial intelligence, semiconductors are now essential components for automobiles, appliances, and a wide range of other everyday products and services.
Access to chip supplies is also a major national security issue for countries around the world. As a result, there's a big push for localized chip production in the U.S., Europe, and other major markets. ASML is set to play a big role in expanding global manufacturing capacity.
2. CD Projekt
Based in Poland, CD Projekt (OTGL.Y 3.68%) has established itself as a strong player in the video game industry. The company is best known for properties including The Witcher and Cyberpunk 2077, but it also operates an online marketplace and sharing platform for digitally distributing games.
Demand for interactive entertainment is still poised for huge growth over the long term. CD Projekt has compelling opportunities as it releases content expansions for existing titles, launches new properties, and taps into emerging trends, including augmented reality and the metaverse.
3. MercadoLibre
MercadoLibre (MELI -0.04%) is a leading provider of e-commerce and fintech services in Latin America. The company was founded in Argentina and is still growing quickly there, but it actually does most of its business in Brazil and also generates a major portion of its revenue in Mexico. MercadoLibre has continued to increase sales at a rapid clip despite macroeconomic headwinds, and it's actually making a big hiring push at a time when many other businesses are reducing their employee counts. MercadoLibre’s forefront positions in online retail and fintech point to huge expansion potential as these services become more popular in Latin America.
4. Shoprite Holdings
The United Nations predicts Africa will account for more than half of global population growth through 2050, and Shoprite Holdings’ (SRGH.Y 8.86%) status as the continent’s largest grocery chain positions it to benefit from economic and demographic tailwinds. The company is headquartered in South Africa and operates roughly 3,150 locations across 14 countries.
5. HDFC Bank
India's largest private sector lender, HDFC Bank (HDB 2.16%), is in a favorable position to benefit as the country’s economy continues to develop. The company has more than 7,800 branches across more than 3,800 cities and towns. HDFC is also a player in the digital payments space and appears poised to benefit from “the war on cash.”
Should I invest in international stocks and funds?
Foreign markets present opportunities that you miss if your holdings are strictly limited to U.S.-based stocks. While foreign companies sometimes come with added risks, international companies tend to be cheaply valued relative to comparable businesses in the U.S.
Many investors prefer to pay more for domestic stocks because business growth in international markets is considered less reliable than growth in the U.S. Another big factor is that most investors simply aren’t as familiar with opportunities in international markets because they have limited personal experience with foreign companies -- and because these businesses tend to receive less coverage from U.S. analysts and media outlets.
But with the vast majority of global population growth in the coming decades projected to occur outside of the U.S., the associated demographic factors and the industrialization of relatively underdeveloped areas suggest that this century’s biggest economic growth will also happen outside the country.
As the world’s largest economy, the U.S. economy is likely to grow more slowly than countries with smaller, less-developed economies. While the U.S. has a population of roughly 330 million, India and China each have populations of roughly 1.4 billion people, and rising per-capita productivity could allow the economies of both of those countries to surpass the value of the U.S. economy by 2030.
Even countries such as Poland, which is home to roughly 41 million people and has actually seen its population shrink in recent years, could expand its gross domestic product (GDP) at rates that significantly exceed the growth rate of GDP in the U.S. Poland is benefiting from industrialization initiatives and a fast-growing tech sector that are boosting most Polish companies.
Of course, domestic companies are working to expand their presence in international markets and should profit from global growth. Investing in foreign stocks is a way to have a direct stake in growth outside the U.S. and to benefit from a broader range of market trends and opportunities.
How can I trade foreign stocks in the U.S.?
As an American, you can gain portfolio exposure to international stocks in a few different ways.
Invest in internationally focused funds
The easiest (and perhaps safest) way for you to invest in foreign stocks is by investing in exchange-traded funds (ETFs) or mutual funds that include non-domestic companies.
Buying shares of a fund such as the Vanguard FTSE Europe ETF (VGK 0.24%) gives you a position in more than 1,300 companies on the continent, while the iShares MSCI Emerging Markets ETF (EEM 0.19%) confers exposure to more than 1,200 large and mid-size companies from countries such as China, India, Brazil, South Korea, and South Africa. Alternatively, the iShares PHLX Semiconductor ETF (SOXX -0.42%) mostly consists of U.S. companies, but Taiwan Semiconductor Manufacturing (TSM -0.39%) stock is one of its biggest components. The fund also includes foreign chipmakers ASML Holding and NXP Semiconductors(NXPI -0.49%), among others.
Buy American depositary receipts
Some foreign companies list their stocks on U.S. exchanges in addition to their home markets, in which case you can simply purchase shares on the Nasdaq or the New York Stock Exchange (NYSE) through domestic brokerages, just as you would for a U.S.-based company. These shares will usually be in the form of American depositary receipts (ADRs) and represent equity stakes equivalent to a predesignated number of shares of the company’s core stock on its home exchange. For example, an ADR share of the Chinese video streaming company iQiyi (IQ -3.57%) trading on the Nasdaq is roughly equivalent to seven ordinary shares on the Chinese exchange.
You may also have the opportunity to buy ADR stakes in companies that don’t trade on U.S. exchanges through over-the-counter (OTC) markets accessible through your broker. But be aware that ADRs may not offer privileges such as voting rights conferred by owning a company’s home-market shares, so you may need to be willing to forgo the prospect of voting as a shareholder to acquire stakes in promising international companies.
Gain direct international access through a broker
The other main way to invest in foreign stocks is by using a brokerage to obtain direct access to the exchange where the company is listed. A global account with a participating U.S. brokerage is suitable, or you can establish a brokerage account in the country where you intend to trade.
Opening a global account or foreign brokerage account may cause you to incur fees and taxes and face additional regulations much more than you’d expect from a U.S. equity market. Also, your investment is not protected by domestic securities laws, and you could face difficulty achieving restitution through a foreign court.
Coffee with MarkZ and Mr. Cottrell 09/08/2023
"RV UPDATE" BY FRANK26, 8 SEPT
Frank26
If they [the bank] made a profit off of you, shame on you. Don't let them make a profit off of you. You're Mr. Clampett and they're Mr Drysdale. Act accordingly. You have the power.
I don't care if you go in there with 500,000, 100,000, don't let them treat you stupid. The bank is not your friend. They have laws that do not allow them to be your friends.
There's no such thing as an NDA...'Here, sign this. I don't want you to say a single word about what you're seeing ok?' | "Whatcha gonna do?" | 'I don't know.' |
"What are you going to take me to court with an NDA? You think they're going to recognize it? You think this is a legal term?" | 'No.' | "Then get out of my face NDA! "
Bank friend believes the rate is 1132. The CBI deputies have to post that on their page by law if not International...he thinks the official rate will not be shown to anyone right now. But he keeps telling me with force that he thinks it's 1132 unofficially known to everyone...
He stands behind this. FRANK: How many times have they come out and told you the exchange rate is 1132. They tell you not to pay attention to the lie of the street rate which is 1320. They keep repeating it to you for a very good reason... [NOTE: You can always see the official CBI listed exchange rate in the left column of this page.]
Question: "Will we have to pay any kind of tax after or during the exchanging of the dinar for American dollars?" When you go to the bank and you present your dinar...don't leave your eyes off of them. You make sure that you see your account has been credited...
At that point they are not going to say to you, 'Ok Mr Frank you have 1 million dinars you owe $300,000 in taxes.' A bank doesn't collect taxes. They're not made to do that...They don't have the facilities to collect taxes from you as an individual... [NOTE: Consult your tax professionals so you pay the right amount of tax for your unique situation.]
If we had about a million Americans citizens all of a sudden came out millionaires instantly that would be a really good shot in the arm for America's structure wouldn't it? It would...