Clare: The regional government announces reaching a preliminary agreement with Baghdad regarding the oil file


On Friday, the Kurdistan Regional Government announced that it had reached a preliminary agreement with Baghdad regarding the oil file, while indicating that the talks would resume next Monday.

The head of the Kurdistan Regional Government’s representative in Baghdad, Fares Issa, said in a statement to the media affiliated with the Presidency of the Government, followed by “NAS” (February 24, 2023), that “the delegation of the Kurdistan Regional Government will visit Baghdad on Monday (February 27, 2023), and will remain until the next day.” Thursday to continue the talks.

Issa confirmed, “The government delegation will meet with the Iraqi Oil Ministry, and a preliminary agreement has been reached regarding the oil and gas law,” adding that “the previous meetings were very positive and reached a solution.”  LINK

Clare:  Parliamentary Committee: The Iraqi Council of Ministers determines the price of oil in the budget during its next session


A member of the Parliamentary Oil and Gas Committee, Ali Saadoun Al-Lami, suggested, on Friday, that the Council of Ministers would determine the selling price of a barrel of crude oil in the public financial budget for the year 2023 during its next session, scheduled to be held in the middle of next week.

Al-Lami said, in a statement to Shafaq News agency, that the cabinet discussed calculating the price of a barrel of oil in the general budget law, which is expected to be voted on in next Tuesday’s session.

And he added that the government will calculate the price of one barrel of oil in the general budget law at an amount ranging between 55-60 dollars, expecting that spending will take place on the specified price in the next session of the Council of Ministers.

It is noteworthy that the financial budget for the past year 2022 was not approved by the Council of Ministers and the House of Representatives due to the turmoil that Iraq witnessed after the early elections in October 2021, which escalated to dangerous levels that ended with the events of the Green Zone, with armed confrontations between supporters of the Sadrist movement and the security forces, which claimed lives. Dozens and hundreds injured.

After the end of the crisis, with the agreement of the political blocs to elect the President of the Republic and to grant confidence to the government of Prime Minister Muhammad Shia’a al-Sudani, the latter pledged that he would present the draft federal budget law for the year 2023 as soon as possible.   LINK



CandyKisses:  Arab Countries Praise Iraq: Plays A Pivotal Role In Strengthening Arab Relations

A number of Arab officials spoke on Friday about Iraq’s role in the Arab region, and stressed that it plays a pivotal role in strengthening relations between Arab countries.

The capital, Baghdad, will host the work of the thirty-fourth conference of the Arab Inter-Parliamentary Union from the period (23-26) of this month.

Lebanese parliamentarian Michel Moussa said: “Iraq plays a pivotal role in strengthening relations between Arab countries.

The Secretary General of the Palestinian National Council, Fahmi Al-Zareer, said that “Iraq hosts the Arab Parliament Union with high organizational capabilities,” while Somali Member of Parliament Said Mohamed Mohamud stressed that “Iraq is witnessing a strong return to hosting conferences aimed at solving Arab problems.”

In addition, a member of the Libyan House of Representatives, Abdul Salam Nassia, added, “Iraq has a major role in joint Arab action and we are happy to return to embrace Arab countries.


Tishwash:  Iraq signs a security agreement with Iran

Revealed, on Friday, that an official visit by the Secretary-General of the Iranian Supreme National Security Council, General Ali Shamkhani, to Baghdad, with the aim of signing security agreements, will be forthcoming.

And the agency stated, in a news item followed by Mawazine News, that “the Iranian side, through Foreign Minister Hussein Amir Abd Allahian, officially informed Iraq of the scheduled visit of the high-ranking Iranian official, through a verbal meeting between Allahian and National Security Adviser Qassem Al-Araji.”

The agency said, “Allahian expressed his regret at not implementing the previous agreement between the two countries to form a joint supreme security committee between the two countries to follow up on borders and security developments in the region.”

Abdullahian also confirmed to Al-Araji that Iran “categorically rejects” the existence of groups he described as “hostile and separatist” within the borders of Iraq, noting that “the continued presence of these groups, especially in the Kurdistan region of Iraq, is unacceptable,” as he described it.

And the Iranian foreign minister indicated that “the visit of the Secretary-General of the Iranian Supreme Council will witness the signing of security agreements on this aspect,” according to the agency.

Last week, Iranian Foreign Minister Hossein Amir Abdullahian arrived in the capital, Baghdad, and met with a number of officials, and discussed with them relations and common files between the two countries, including the investigation into the assassination of General Qassem Soleimani.  link

Wells Fargo to Launch Digital Platform for Wealth Management –

Wells Fargo is preparing to launch a digital platform offering clients tools for wealth management.

The new LifeSync, which will be available to select clients of the bank’s Wealth and Investment Management (WIM) division at the end of March, will provide real-time progress on goals, track key financial metrics, deliver relevant content and provide a connection to a financial advisor, Wells Fargo said in a Wednesday (Feb. 22) press release.

“With LifeSync we’ve created another innovative user experience in the Wells Fargo Mobile app, offering one cohesive approach to goal tracking for clients — regardless of their level of wealth or stage in life,” Michelle Moore, head of Consumer and WIM Digital at Wells Fargo, said in the release.

Consumers are increasingly using digital channels for their wealth management needs.

Bank of America reported in August that it’s experiencing a record increase in digital engagement by Merrill and Private Bank clients, with 82% of wealth management clients now digitally active.

Also, there was a 59% year-over-year increase in the number of financial planning reports run for Merrill clients, Bank of America said at the time.

In January, consumer data platform GoLogiq and financial services platform GammaRey merged to access the high-growth Generation Z and millennial wealth management market.

The companies said at the time that their combined forces will help them provide services to younger consumers who have seen their assets rise from $2.9 trillion to $3.6 trillion.

Wells Fargo said in its press release that it has found that four out of five Gen Z and millennial investors are comfortable using mobile devices for investing.

Among the metrics available through the bank’s LifeSync are net worth, portfolio performance, market indices, FICO scores and credit card balances, according to the release.

Read full article here:   https://www.pymnts.com/news/digital-banking/2023/wells-fargo-launch-digital-platform-wealth-management/


China’s Still Dumping Dollars – Here Are The Facts!

Sean Foo:  2-24-2023

Is China still de-dollarizing or are they in fact still buying US debt? In a report, China has been seen buying US bonds, despite dumping US treasuries. Does this mean China still has faith in the United States? Aren’t they scared of their reserves getting frozen? Here’s what you must know!

Timestamps & Chapters:

0:00 China Still Buying US Debt?

1:24 China & De-dollarization

3:31 Why China Is Buying Agency Bonds

5:51 De-Dollarization Won’t Stop

7:33 Why China Needs Dollars For Now

9:25 US Is Incredibly Indebted To China