I'm trying to use the company logo PNG as a watermark for drawings; however this requires transparency with both the background of the PNG, and overall transparency of the image as it will be over the whole drawing. When using Insert->Picture, these options are mutually exclusive, either choosing "From file" transparency which removes the background, or "Full File" which does the whole transparency of the image, but leaves the PNG background solid black. There also doesn't seem to be any functionality to actually move the depth of the picture in front of everything else like there is with a copied image. 

Is there any possible way of having both transparencies active at the same time on an image, and place it over everything else?