President Rashid stresses the importance of passing the oil and gas law to "achieve justice in the distribution of wealth"

[yota691]

President Rashid leaves the country for Switzerland

2023.01.16 - 13:03

 

Baghdad - Nas  

On Monday, the President of the Republic, Abdul Latif Jamal Rashid, left Iraq for Switzerland to participate in the meetings of the World Economic Forum in Davos.  

 

  

A statement by the Media Office of the Presidency of the Republic, of which "NAS" received a copy, stated (January 16, 2023), that "The President of the Republic, Abdul Latif Jamal Rashid, left Iraq, accompanied by Foreign Minister Fuad Hussein, heading to Switzerland to participate in the meetings of the World Economic Forum in Davos." .  

  

He added that "Rashid will participate in a number of seminars and dialogue sessions at the conference, to discuss several issues related to food security, sustainable development, regional and international partnerships to support the energy, agriculture and water sectors, confront climate change, combat corruption, develop infrastructure and protect society."  

[yota691]

The Iraqi president leaves for Davos to participate in the global forum

2023-01-16 04:35

 

Shafaq News/ Today, Monday, the President of the Republic, Abdul Latif Jamal Rashid, left Iraq for Switzerland to participate in the meetings of the World Economic Forum in Davos.

 

The Presidency of the Republic said, in a statement received by Shafaq News Agency, that the President of the Republic, during his visit, accompanied by Foreign Minister Fuad Hussein, will participate in a number of seminars and dialogue sessions in the conference, to discuss several issues related to food security, sustainable development, and regional and international partnerships to support the energy and agricultural sectors. water, confronting climate change, combating corruption, developing infrastructure and protecting society.

 

 

 

Earlier today, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, left Erbil International Airport, to participate in the World Economic Forum 2023 in the Swiss city of Davos. 

[yota691]

The work of the Davos Forum begins today, with the attendance of 116 billionaires..and these are excluded!

 

Arab and international
   

Economy News-Baghdad
Billionaires from Russia and China will be absent from the work of the World Economic Forum in Davos, Switzerland, which opens today, Monday, according to Bloomberg, which was viewed by Al Arabiya.net.

Despite the main presence of Russian billionaires during the past years, the war in Ukraine necessitated their exclusion from the attendance list, which includes about 116 billionaires from around the world who were invited and confirmed their attendance at the conference.

In addition to the absent Russians, the list also showed a complete absence of billionaires from China this year, as the country is still under the weight of rising Covid infections, as well as the staggering stock market that erased $224 billion from the wealth of Chinese billionaires during 2022.

Recession of the global economy in 2023.. to where?

The report stated that the guest list of billionaires this year differs markedly from the lists of previous years, which reflects the global turmoil that reshaped fortunes and changed power centers amid conflicts, the epidemic and high inflation.

The World Economic Conference will be held in Davos this year from January 16 to 20 under the theme "Cooperation in a Divided World", an increase of 40% compared to the previous decade.

Although the conference site, which is being held in the "Davos" resort near the ski resorts, is close to European billionaires, the list of attendees included only 18 European billionaires, and certainly billionaires from America constituted the largest part, with about 33 billionaires.

As well as a strong presence of Wall Street giants, led by Jamie Dimon of JPMorgan, Larry Fink of BlackRock and Steve Schwarzman of Blackstone Inc.

According to "Bloomberg", the rise in the number of billionaires from the Gulf countries contributed to filling the void, which witnessed an opposite recovery for most of the world's economies, thanks to the rise in oil prices and the Gulf's reputation as an oasis of stability in a region full of problems.

The conference will also be attended by 13 billionaires from India, including Gautam Adani, the coal tycoon whose wealth grew to $44 billion last year. Adani is currently the fourth richest person in the world, according to the Bloomberg Billionaires Index.

Even for the British billionaires, attendance is limited to only billionaires of Indian origin.

In addition to all this, the companies' valuations declined sharply, turning some of them from being billionaires to much below this level, as some companies lost more than 90% of their value during the current market crisis.

The Russian Embassy in Switzerland confirmed earlier this month that the Russian delegation would not participate in the activities of the Davos Forum.

It is noteworthy that Russia's representatives were not invited to the previous session of the forum last May, after the forum froze relations with Russian organizations against the background of the war on Ukraine.

 

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Views 207

Added 01/16/2023 - 1:41 PM

Updated 01/16/2023 - 5:29 PM

[yota691]

On the sidelines of "Davos"... Saudi Arabia and Iraq are discussing strengthening cooperation in all fields

Part of the Saudi-Iraqi meeting

 January 17, 2023 01:03 AM

Riyadh – Mubasher: Prince Faisal bin Farhan bin Abdullah, the Saudi Minister of Foreign Affairs, met today, Monday, with the Minister of Foreign Affairs of the Republic of Iraq, Fouad Muhammad Hussein, on the sidelines of the annual meeting of the World Economic Forum 2023, in the Swiss city of Davos.

 

During the meeting, aspects of the strong and well-established relations between the two countries were reviewed, and ways to support and enhance them in all areas of joint cooperation, in addition to discussing the intensification of bilateral coordination to achieve the aspirations of the two countries and peoples, according to the Saudi News Agency, "SPA".

The two sides discussed strengthening the efforts of the two countries in maintaining security and stability in the Middle East region, in addition to reviewing the most important topics on the "Davos 2023" agenda, including advancing sustainable development around the world.

[yota691]

“Those days are gone.” The Director of International Monetary Affairs is giving good news about global growth

• Time: 01/17/2023 13:57:26
•  
• Read: 819 times

  

{Economic: Al Furat News} The Director General of the International Monetary Fund, Kristalina Georgieva, said that: "The days when the Fund used to reduce the regular global rating are almost over."

Her comments come after she said at the World Economic Forum in Davos, Switzerland: "I don't see a decrease in the credit rating now, but growth in 2023 will slow," according to what she told CNBC.
Read more: The International Monetary Fund warns of a risk that will cost the world 7% of its GDP
She added: “Our forecast is for a half percentage point decline compared to 2022. But the good news is that we expect growth to bottom out this year and that 2024 will be a year we see The global economy is finally on an upward trend.
On the question of possible central banks cutting interest rates, Georgieva said that "we're not there yet", with inflation slowing, but still "very high".
"Central banks need to be careful not to pull their feet off the brakes too early," she added. Last week, the US inflation rate recorded its lowest level since October 2021, while inflation in the eurozone fell for the second consecutive month in December.

Turning to China, Georgieva reiterated the International Monetary Fund's forecast that the country will see an increase in gross domestic product, but it will not account for as much of global growth as it has in the past.
“Growth rates in China will not return to the days when China achieved about 40% of global growth, and this will not happen,” Georgieva said, as the country experienced below-average growth for the first time in 40 years in 2022.
She believes that if China maintains Its track with the agenda of reopening the country from Covid lockdowns will reach the IMF's growth forecast of 4.4% by the end of the year.
"Growth will not be 7%, not 6%, but somewhere better above average growth," she added.

Georgieva's comments come the day after the International Monetary Fund released a new report in which it said divisions in international trade could cost the global economy up to 7% of gross domestic product.

[yota691]

Saudi Arabia announces the readiness of its companies to invest in Iraq

 

money and business
   

Economy News / Baghdad
Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, confirmed today, Tuesday, that Iraq is seeking 25 Gulf investments as an occasion for the gathering of Gulf brothers in Iraq.

The ministry stated, in a statement, that "Hussein met with the Saudi Foreign Minister, Prince Faisal bin Farhan Al Saud, on the sidelines of the Davos World Economic Forum meetings."

The statement added, "The meeting discussed bilateral relations between the two brotherly countries, in addition to discussing the regional situation in the Gulf region and the Middle East."

The minister began the meeting by "expressing the depth of relations between Iraq and the Kingdom of Saudi Arabia, stressing Iraq's endeavor to strengthen Gulf relations in general and Iraqi-Saudi relations in particular, because of their strategic importance for Iraq."

He explained, "Iraq seeks to invest in non-traditional diplomacy in the Gulf 25, which is currently being organized in the city of Basra as an occasion that brings together the Gulf brothers in Iraq."

For his part, the Saudi Foreign Minister expressed his thanks for "providing this opportunity for the purpose of discussing and exchanging views on Iraqi-Saudi relations and the latest current events in the region. He also expressed the Kingdom of Saudi Arabia's support system" rel="">support for the Iraqi government's efforts aimed at promoting democracy and prosperity for Iraq."

He stressed that "Iraq's geographical location and available resources make it an important pillar in the region and enhance the role it can play regionally."

He pointed out, "We must work to strengthen economic relations between the two countries, and that Saudi companies are ready to invest in the Iraqi economy."

 

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Views 36

Added 01/17/2023 - 3:56 PM

Updated 01/17/2023 - 4:32 PM

[yota691]

International Monetary: We expect an upward trend for the global economy in 2024

 

Arab and international
   

Economy News - Baghdad
The Managing Director of the International Monetary Fund, Kristalina Georgieva, predicted a slowdown in global growth in 2023, noting that the days when the fund regularly cut global growth are almost over.

 

"Our expectation is that growth will be about half a percentage point lower than in 2022," Georgieva said on the sidelines of the World Economic Forum in Davos, Switzerland. 

And she continued, saying, "But the good news that she referred to is that we expect growth to reach the bottom this year, and that 2024 will be the year in which we see the trend of the global economy on the upside." 

 

And at the beginning of this year, the director of the IMF issued warnings from the current year, explaining that it will be difficult for most of the global economy.

She said the new year will be "tougher than the year we leave behind".

 

"Why? Because the three major economies, the United States, the European Union and China, are all slowing down simultaneously," she added.

 

It is noteworthy that the International Monetary Fund has reduced its forecast for global economic growth three times since October 2021.

 

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Views 93

Added 01/17/2023 - 2:21 PM

Updated 01/17/2023 - 4:34 PM

[The Englishman]

DAVOS, Switzerland, Jan 17 (Reuters) - A long-running dispute on oil revenue-sharing between Iraq's national government and the semi-autonomous Kurdistan region may be resolved within months with agreement on a hydrocarbons law, Iraqi Kurdish Prime Minister Masrour Barzani said on Tuesday.

Speaking after talks in Baghdad last week with Iraqi Prime Minister Mohammed al-Sudani, Barzani said the federal government committed to freeze for now court actions it had taken for control of oil and gas revenues from the Kurdish region.

The dispute between Erbil and Baghdad erupted last year after a February federal court ruling that deemed the legal foundations of the Kurdistan region’s oil and gas sector unconstitutional.

Agreement on regular budget payments from Baghdad would help authorities in the Kurdish Regional Government resolve payment delays to international oil companies in the region, as well as easing a backlog in salary payments for KRG employees.

"What we have agreed is that all those pressures on the KRG will be halted and stopped for the moment and we will wait until we have the hydrocarbon law," Barzani told Reuters on the sidelines of the World Economic Forum in Davos.

Until that deal was reached, the two sides would cooperate in oilfield management, oil sales and revenue-sharing - which he said would eventually be formalised in the budget.

Asked about the timing for agreement on the hydrocarbon law, Barzani said it should be within months. "We had a time frame of six months. I don’t know if that would be realistic ... but I'm hoping that we can do it as soon as possible."

Under the Iraqi constitution, the KRG is entitled to a portion of the national budget. But the arrangement collapsed in 2014 when the Kurds seized control of Iraq's main northern oilfields in Kirkuk from Islamic State militants and began selling crude from there independently.

In 2018, Iraqi forces retook disputed territories, including the oil city of Kirkuk. Baghdad resumed some budget payments but they have been sporadic, and the federal government has tried to bring KRG revenues under its control, including through local court rulings and threats of international arbitration.

The standoff has affected the KRG's ability to pay international oil companies (IOCs) operating on its territory and to pay thousands of local employees.

"We always made sure that all the IOCs and oil traders know that the KRG is very committed to paying whatever they owe to the companies," Barzani said.

When it (sic) agreement was reached with Baghdad, the KRG would "expedite the payments and make sure we can close the gap ... that they have been tolerating so far." "

[Laid Back]

“What we have agreed is that all those pressures on the KRG will be halted and stopped for the moment and we will wait until we have the hydrocarbon law," Barzani told Reuters on the sidelines of the World Economic Forum in Davos.”

 

Go HCL

Go open market economy 

Go stronger Dinar

[cws]

Months?  How many?  72?

[Half Crazy Runner]

2 hours ago, cws said:

Months?  How many?  72?

Barzani said it should be within months. "We had a time frame of six months. I don’t know if that would be realistic ... but I'm hoping that we can do it as soon as possible."

[WheresmyRV?]

First they are telling us that the HCL is coming to be passed in a few short weeks and now its months. 

[HowieC]

They stated a day or 2 ago, after Barzani was in Baghdad, that the HCL would be submitted with the budget. These guys are full of camel crap.  I believe it's a done deal and waiting for the little pow wow in Washington.

[T B]

yea they got it set up for the elite and crew , joe biden will get senile and have to do the 25th  on him and start all over like all these years, hopefully they will let iraq revalue so they look good for the replacement, if anyones left on earth from there shots they will get to controll the country boys with there rifles, dam thats gonna be hard ! i know many wont bend! GET EM JESUS, GO TRUMP!

[screwball]

23 minutes ago, HowieC said:

They stated a day or 2 ago, after Barzani was in Baghdad, that the HCL would be submitted with the budget. These guys are full of camel crap.  I believe it's a done deal and waiting for the little pow wow in Washington.

yes i believe so

[mally2]

22 minutes ago, HowieC said:

They stated a day or 2 ago, after Barzani was in Baghdad, that the HCL would be submitted with the budget. These guys are full of camel crap.  I believe it's a done deal and waiting for the little pow wow in Washington.

I’ve seen many articles saying they both will be sent in this parliament session which goes months until their next break but I haven’t seen any explicitly say the budget and hcl will be voted on together, or sent to parliament together at the same time. Hope I’m wrong though. It would make sense to do the hcl first or together with the budget law if they’re serious since the hcl will set the Kurds share of the budget 

[screwball]

33 minutes ago, HowieC said:

noting that the delay in sending the budget law to parliament is related to details that have nothing to do with the understandings between Erbil and Baghdad.

so now if this trues its about timing and who is causing the delay...I would say its the US Treasury

[screwball]

34 minutes ago, HowieC said:

On fixing the Kurdistan Region's 14% share in the budget, Shakhwan Abdullah stressed that "it is decisive, but it is better for the federal government and the Kurdistan Regional Government to announce the details themselves."

this says they have a made a descision and waiting on the announcement

[T B]

ya better have faith buddy, i rode this since 2005 and this roller coaster is changing! the elite controlls this ,if ya beleive or not! us ole boys know the game! be blessed!

[T B]

i never knew that life could be this hard after military after my time, 19 delta calvary sometimes point man, full wreath if ya know, not many, guess thats why God loved me and kelp me? love ya my country USA! YEA IM OLD NOW! MISS THE 70,S! LOVE YA AN MISS YA MOM AND DAD!  BE BLESSED!  CRAZY DINAR RIDE!

[T B]

CREEDENCE CLEAR WATER REVIVAL!

[T B]

its funny the gov destroys the lil countrys and none of our politcals go to war? YEA THEY KNOW THEM, they kill our kids and countrys to only keep there game on, hell they get paid well while you and our dear old people try to survive, evrytime we get a fighter like TRUMP they fight like hell to kill him, JUST LIKE KENNEDY, SHOOT THEM BEFORE THEY FIND OUR DAM LIES AND DECEIT! IM FUCKKKKKKKKKKIN TIRED, FOR GIVE ME LORD, IM OLD! STEP UP PEOPLE OR YOU WILL FINISH THERE PLAN, YEA YOU KNOW IT! FORGIVE ME IM OLD, BUT STUPID, OLD 19 DELTA CALVARY SCOUT! MY FUN WAS OVER YEARS AGO, DO THIS FOR YOUR GRANDKIDS!

[dinardiggerisme]

WARPIGS 

[T B]

if people can only see the truth, they push devision among the people, they did this for many years now, if they can controll this nation then the others will follow, WE HAVE A CONSTITUTION AND THEY ARE BIND TO IT! READ IT YOUNG PEOPLE! I WONT BE HERE FOREVER!  MAY GOD BLESS YOU ALL, I DID MY TIME! IM TIRED!

[T B]

IF YA THINK PAW PAW IS LIEING THEN YOU LOST ALREADY!  CAUSE THE FOOD COST GETS HIGH ,OLD PAW PAW HAD HIS SEEDS READY AND MY CHICKENS ARE LAYING MY FOOD! YES SOLAR AND THE KICKS ALREADY , love ya people, be blessed! Jesus loves ya too!