KTFA Members "News and Views" Friday PM 8-23-19
MilitiaMan: Looks like they are getting along and have agreed to work together from now on.. They also may have also sorted the oil between themselves as well, if not will or may very soon. imo ~ MM
Samson: Baghdad and Kurdistan agree on partnership in international conferences and meetings
23rd August, 2019
The Department of Foreign Relations in the Kurdistan Regional Government, on Friday, agreed with the Iraqi Foreign Minister that the region to participate in the Iraqi foreign delegations in international conferences and meetings.
"The Foreign Minister Mohammed Ali al-Hakim and the official of the department, Sven Dziaye, discussed the future plans of conferences, meetings, events and international activities and participated in them with unified delegations including both sides, contrary to what was going on with the unilateral participation of both sides in previous years," the department said in a statement.
The statement pointed out that "in order to increase the level of relations between the Kurdistan Region and the federal government with the international community within the framework of the Iraqi constitution," stressing that "from now on, the Department of Foreign Relations with the Ministry of Foreign Affairs will participate in international conferences and meetings as a delegation". LINK
Samson: Kurdish deputy: the visit of officials of the region to Baghdad, the last chance to resolve the oil file
Member of the House of Representatives for the Future Bloc opposition expected the visit of the delegation of the Kurdistan region to the federal government in Baghdad to discuss the region's share in the 2020 budget as "the last chance" to reach a final solution on the oil file.
In a statement received by the Euphrates News Agency, Sarkot Shamsuddin said that "the visit which is planned by a delegation of officials of the Kurdistan region to meet their counterparts in the federal government represents the last chance to reach a final solution between the parties in accordance with the law and the constitution, as one of the strategic and important files." On which the future and interest of Iraq depend."
He promised "the policies of the Kurdistan Democratic Party in the management of the oil file in the region failed as this party mortgaged the natural resources there and exported oil abroad without handing it to the government, and such actions are rejected," stressing that "the visit of officials of the region to Baghdad must be to prove good faith During the next phase and delivery of oil through the competent company."
Shams al-Din threatened to "resort to the Federal Court to resolve this crisis between Baghdad and the region, and the liberation of the Kurdish people from the influence of the families of Barzani and Talabani, which is trying to manipulate its capabilities, which caused the deterioration of the economy in the region and the emergence of social, educational and health problems and the increasing migration of young people to other countries, encouraging the need Cooperate significantly with the federal government to improve the reality of the Iraqi economy in general."
He advised "the officials of the region that the visit would be useless if the aim is to take pictures and meet the invitations of officials for the banquet without talking in particular about this oil file and its implications and future between the parties, while Baghdad should cooperate with the region in general and leave dealing with the two parties, and end the chaos there by preventing "Exporting oil by the Democratic Party abroad and forcing it to be marketed through the oil ministry in Baghdad.
A member of the opposition bloc hinted that "the new legislative chapter will discuss at the beginning of the 2020 budget and the oil file between the center and the region and the salaries of the employees of the region, which must be disbursed from Baghdad after the commitment of the other party to export oil through." LINK
Samson: Sovereign funds to manage the wealth of countries .. Who manages the wealth of Iraq ?!
23rd August, 2019
Sovereign wealth funds - created by state governments for macroeconomic purposes - maintain and manage wealth and assets in an orderly and sound manner and use several investment strategies to achieve the financial goal.
The funds are sovereign wealth (or sovereign portfolios), and are entrusted with the management of those wealth, and contain fixed assets such as land, commercial real estate or stocks, bonds, direct ratios in these companies, and governments seek to preserve their wealth on the one hand, and increase returns on the other hand In other words, it is the investment arm of countries with surpluses.
It is the best way for countries with current surpluses to save for any event, emergency or financial economic crisis in the future, and more than one fund must be established so that there is diversity and balance of investments, and be cautious, and managed by a professional elite to get results Required and not vice versa.
One of the reasons for the emergence of sovereign funds is the need of countries that have large savings and want to maintain these savings, and even seek to increase their profits, but are not invested in high-risk assets, as they are owned by the state and invest in traditional assets, as the savings of some countries are owned Of commodity wealth (especially oil and gas), as in China and Singapore, which have a large trade surplus.
The history of the establishment of sovereign funds varies, but we can say that they began since the fifties of the last century, and then spread in several countries, contrary to what some believe that these funds are an exclusive phenomenon in the Gulf States, there are several countries around the world have similar funds, including Norway.
The objectives of the SWFs are:
—Protecting the country's wealth and investing it properly.
—Protecting the national economy and the state budget from the risk of external crises that result from fluctuations in revenues and exports.
—The principle of justice, which is achieved through the distribution of wealth between generations by maximizing the savings that goes to future generations.
—Diversify state income and thus reduce dependence on non-renewable audio exports.
Increase in foreign exchange reserves. The monetary authority helps to withdraw unwanted liquidity.
—Provide a tool for financing economic development programs.
—Achieve sustainable long-term growth in the Fund's holders.
—Achieving political, economic and strategic objectives
—Addressing the negative effects of financial flows resulting from natural wealth, this is known as the Dutch disease, which causes undesirable effects in the productive sectors, especially industrial as a result of oil discoveries that created a state of laziness and inaction in the job The Dutch people during the years 1900-1950 after the discovery of oil and gas in the north, they went to luxury and comfort, until they reached the stage of depletion of the natural resource of wells depleted by excessive and unproductive consumption.
Read full post here: LINK
Samson: Parliamentary Economy: Oil prices may fall to $ 40 a barrel
23rd August, 2019
A member of the Parliamentary Committee on Economy and Investment, Salem Tufayli, on Friday, that oil prices may fall below $ 40 a barrel, pointing out that there are many sources that can supplement the budget with funds if exploited properly.
Tufayli said in a statement to the information, that "Iraq has a great opportunity to diversify the sources of its budget without relying on oil only, especially with the presence of two great rivers can irrigate millions of acres of agricultural."
He added that "expectations and according to the current data, it refers to the decline in oil prices to less than 40 dollars per barrel during 2020, which may enter Iraq in a financial crisis unless it is remedied to diversify sources of financing the budget."
He explained that "many sectors, especially agriculture can provide the money needed by the country, and the border outlets and large areas of land can be used instead of oil to finance Iraq's budget for the coming years." He pointed out that "the border outlets are not managed properly, where there is a great power by the parties and influential parties." LINK
Samson: By 75 billion dollars .. Beijing is escalating the trade war against Washington
23rd August, 2019
China announced Friday that it will impose US $ 75 billion in tariffs on US imports from September 1 and December 15, in response to Washington's plans to increase tariffs as part of a raging trade war..
The new tariffs will range from 5 to 10 percent on 5,078 goods China imports from the United States, according to the State Customs Office of the State Council..
China also announced it would impose a 25 percent tariff on US cars and 5 percent on auto parts as of December 15.
China abolished tariffs on US cars and parts earlier this year as a goodwill gesture during trade talks.
Samson: Trump orders US companies, including FedEx and Amazon, to look for alternatives to imports from China
23rd August, 2019
US president ordered, Donald Trump, the major US companies look 'immediately' for an alternative to China, and the trend towards investment in the United States
"He ordered our great American companies to immediately start looking for an alternative to China, including bringing your companies to their home country and making your products in the United States," Trump wrote on Twitter
"We don't need China, and frankly, we would be better without them LINK