Iraq’s President Barham Salih on Thursday urged Baghdad and Kurdistan’s semi-autonomous government in Erbil to resolve their oil and gas dispute.
Iraq's Federal Supreme Court on Tuesday ruled that an oil and gas law from 2007, governing production, revenue and exports in the Kurdish region, was unconstitutional. The ruling invalidated Kurdistan Regional Government oil contracts with oil companies, foreign parties and states.
The court decision stated that the Kurdish government in Erbil must hand over all crude from the KRG and neighbouring areas to the federal government, represented by the Ministry of Oil in Baghdad.
“A serious and immediate dialogue must commence between the two sides in order to find a realistic mechanism and a practical solution to the content of the court’s ruling,” said a statement by Mr Salih’s office.
Mr Salih said both sides must “act responsibly in salvaging their ties” and added that the people of the Kurdish region were facing many issues such as delays in employee salaries and pensions due to the dispute.
The court ruling came amid a protracted government-formation process that has been delayed by political wrangling.
It also stated that the Ministry of Oil must be allowed to audit all agreements concluded by the KRG with oil and gas companies.
The KRG rejected the court's decision and said the ruling was not only “unconstitutional” but also “unjust”.
KRG President Nechirvan Barzani said that the court’s decision could further complicate differences between Erbil and Baghdad.
Masoud Barzani, leader of the ruling Kurdistan Democratic Party and a former KRG president who played a role in drafting the Iraqi constitution, called the decision “political”.
“The aim of [the court's decision] is to antagonise the Kurdistan Region and the federal system in Iraq,” he said.
“We hope that the governments of Iraq and the Kurdistan region will be able to overcome the obstacles and agree on the oil and gas file.”
In Baghdad, Prime Minister Mustafa Al Kadhimi urged the Ministry of Oil to co-ordinate with the KRG on the energy issue.
“The council has decided to mandate the oil ministry to communicate and co-ordinate with the KRG, concerned companies and countries to prepare the mechanisms to manage this [oil] file in accordance with the provisions of the constitution,” said a statement by Mr Al Kadhimi’s office.
Dozens of oil and gas contracts signed by the KRG since 2005 will be called into question following the ruling, which followed the signing of a contract between the region’s Ministry of Natural Resources and Norwegian company DNO, allowing the company to drill for oil near Zahko, close to the Turkish border.
What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
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COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
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BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails
Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments
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Dir: Shashanka Ghosh
Starring: Kareena Kapoo-Khan, Sonam Kapoor, Swara Bhaskar and Shikha Talsania
Verdict: 4 Stars
The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
Five famous companies founded by teens
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
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The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
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Napoleon
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The specs: 2019 BMW X4
Price, base / as tested: Dh276,675 / Dh346,800
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RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors
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Moeen Ali, James Anderson, Jofra Archer, Jonny Bairstow, Dominic Bess, James Bracey, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Sam Curran, Joe Denly, Ben Foakes, Lewis Gregory, Keaton Jennings, Dan Lawrence, Jack Leach, Saqib Mahmood, Craig Overton, Jamie Overton, Matthew Parkinson, Ollie Pope, Ollie Robinson, Joe Root, Dom Sibley, Ben Stokes, Olly Stone, Amar Virdi, Chris Woakes, Mark Wood
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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