KTFA:

Samson:  Putin: The world order is currently changing and the world is moving towards pluralism

20th September, 2022

Russian President Vladimir Putin said that Russia had not received any response to its offer to provide countries in need with grain for free.

In his speech, while receiving the credentials of a number of new foreign ambassadors, Putin added that "the European Union's refusal to respond to Russia's proposal to transfer Russian fertilizers from European ports to developing countries for free is the height of ridicule."

In a separate context, the Russian President stated that "the world order is currently changing and the world is moving towards pluralism," adding that "the hegemony in world affairs cannot last forever." 

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Samson:  The World Bank expresses its concerns about the recession in the global economy

20th September, 2022

The President of the World Bank, David Malpass, today expressed his concerns about a worsening global economic recession.

Malpass said during a press statement that the global recession may continue beyond 2023, adding that a strong dollar is one of the main components that support the US financial markets.

Earlier, World Bank President David Malpass said today that the lack of progress by the world's largest economies in relieving the debt burden of the poorest countries while increasing borrowing costs will exacerbate poverty and instability rates.

Malpass added in a TV interview that debt relief is of great importance to the world because interest rates are rising. The head of the World Bank Group explained that debt was already very stressful, and now countries are suffering from currency devaluation, which is causing inflation.”   LINK

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Samson:  Bank of America: Average oil prices in 2023 will reach $100 per barrel

20th September, 2022

Bank of America expects that the average oil price will reach $100 per barrel next year 2023, indicating that this rate of prices comes with the recovery in demand in China and the decline in Russian production, which keeps global supplies scarce 

The bank said, oil will average $100 a barrel in 2023 as demand returns in Asia and Russian production declines, and further disruptions to Russian supplies may push prices up, but the global recession may limit them 

In a note on global oil demand, Bank of America strategists said the Asian region is expected to achieve 86% of the 1.7 million barrels per day of oil consumption growth we expect for next year, compared to just 19% of the 2 million barrels per day we expect. 2022 

For 2023, the Bank expects oil demand to grow at an average of 1.7 million barrels per day, which is lower than what the International Energy Agency, the Energy Information Administration and OPEC expect.  LINK

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Samson:  Parliamentary Oil: Iraq recorded the largest financial abundance in its history this year

9/20/2022 18:30:00

The Parliamentary Oil and Gas Committee announced today, Tuesday, that Iraq recorded the largest financial abundance in its history this year.

 Committee member Durgham al-Maliki told Al-Furat News: "Iraq has a great opportunity to benefit from the financial surplus and the escalation of the export rate."

He added, "It has a great opportunity to prepare infrastructure and improve living conditions from the escalation of oil exports, as Iraq recorded the largest financial abundance in its history this year."

Al-Maliki indicated, "The political problems and the survival of the caretaker government devoid of authority negatively affected the investment of these funds, as well as the lack of authority to approve a budget to take advantage of this abundance."   LINK

Samson:  Iraq will meet with 3 Arab countries next week to discuss the file of economic integration

20th September, 2022

Representatives from Iraq will meet next week with their counterparts in 3 Arab countries to discuss the file of economic integration, while the Iraqi and Lebanese sides agreed to export surplus agricultural products in both countries.

A statement issued by the Ministry of Agriculture, received by the Iraqi News Agency (INA), said that the Minister of Agriculture, Muhammad al-Khafaji, held a joint meeting at the center of the ministry this morning, Tuesday, with his Lebanese counterpart, Abbas Hajj Hassan, in the presence of the Lebanese ambassador to Iraq, the president and members of the Baghdad Chamber of Commerce, and senior traders and importers to discuss ways Joint cooperation in the field of commodity exchange between the two brotherly countries and ways to create an integrated economic environment between brotherly countries, including Lebanon, as well as overcoming the obstacles facing the export and import of agricultural products.

 The statement quoted the official spokesman of the ministry, Hamid Al-Nayef, as saying that "Minister Al-Khafaji stressed the keenness of the Iraqi government represented by the Ministry of Agriculture to increase cooperation and agricultural trade exchange between Iraq and the brotherly Arab countries in all fields and in a manner that serves common interests, in addition to facilitating procedures for the export and import processes and supporting exporters and importers
 

According to the statement, Al-Khafaji agreed to a proposal to establish a joint Iraqi-Lebanese transport company that works to transport goods and agricultural products between the two countries and deliver them to consumers at the lowest prices and costs, noting that "this process is carried out through the private sector and that the ministry will be supportive of it

." Al-Khafaji explained that "the ministry protects the local product on the one hand and protects the consumer on the other hand, and this partnership does not affect the locally supplied products, as all imported products are not provided locally and according to the agricultural calendar that controls the import and export process

According to the statement, the Minister of Agriculture stressed the need to work hard to build a real partnership for economic integration between the two countries, announcing the holding of a four-way meeting between Iraq, Syria, Lebanon and Jordan early next week in Amman in order to continue searching for possible means to make the process of economic integration between the four countries succeed

For his part, the Lebanese minister affirmed the depth of the brotherly relations between the two countries in all fields, noting that "Lebanon has many agricultural crops that are surplus to need and it is possible to export them to Iraq, in addition to allowing the export of Iraqi agricultural products that are surplus to need, including dates, to Lebanon within the framework of the commodity exchange policy. agricultural products between the two countries  LINK