Iraq’s semi-autonomous region of Kurdistan sent a senior delegation to Baghdad on Sunday for talks over the long-standing issue of developing and exporting oil and gas resources, an Oil Ministry official said.
The visit comes a day after Baghdad announced it had won an arbitration case at the International Chamber of Commerce and halted Kurdistan's unilateral oil exports through Turkey.
Baghdad and Kurdistan have been in dispute over the right to develop and export natural resources from the region since 2003 US-led invasion that toppled Saddam Hussein’s regime.
The Kurds say the country's 2005 Constitution gives them the right to sign agreements with oil companies and states without consulting Baghdad.
Baghdad maintains that the region has no right to sign deals and that exports must go through the state-run pipelines.
The federal government and the Kurdistan Regional Government have held a series of talks in recent weeks to find a solution to the dispute.
Iraqi Prime Minister Mohammed Shia Al Sudani met Kurdish leaders including Masoud Barzani, the head of Kurdistan Democratic Party, one of two groups that share power in the region.
Shortly after Saturday’s announcement, Mr Barzani said the discussions with Baghdad “laid the groundwork for us to overcome the arbitration ruling today”.
He said the team sent by Erbil to Baghdad on Sunday would build on the “goodwill” in talks with the central government.
The Kurdistan delegation was holding technical discussions at the Oil Ministry on Sunday afternoon, an official told The National.
Mr Al Sudani said this month that the federal and KRG governments had reached a deal to deposit Kurdistan oil revenues in a bank account under Baghdad's supervision.
In 2014, Baghdad filed a suit at the Paris-based International Chamber of Commerce, accusing Turkey of breaching a 1973 joint agreement by allowing the KRG to export oil through a pipeline to the port of Ceyhan.
In defiance of Baghdad, Erbil and Ankara continued their co-operation in sending about 450,000 barrels a day to the international market.
Excluding the output from Kurdistan, Iraq, Opec’s second largest producer, exports an average of 3.3 million barrels a day.
On Saturday, Iraq stopped the export of 370,000 barrels from Kurdistan and 75,000 barrels from northern Kirkuk, Reuters reported.
Several issues between Baghdad and Erbil surfaced after the 2003 invasion, including natural resources and control over disputed lands claimed by both sides.
On Sunday evening, Rebaz Hamlan, an adviser to KRG Prime Minister Masrour Barzani, said that the halting of oil exports from the Kurdish region would only last until an agreement was reached.
"It is true that oil exports have been halted, but this is a temporary situation because we have good relations with the Iraqi government and the government of Mohammed Shia Al Sudani,” Mr Hamlan told Kurdish outlet Rudaw.
He said that due to the financial crunch caused by the halt of exports, the regional government would give priority to paying public-sector workers, payments that comprise most of the Kurdish region's budget.
Mohammed bin Zayed Majlis
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THE SIXTH SENSE
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LIVING IN...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Towering concerns
India squads
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Profile box
Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
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if you go
The flights
Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
When to visit
March-May and September-November
Visas
Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
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Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
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Kibsons%20Cares
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
How it works
Booklava works on a subscription model. On signing up you receive a free book as part of a 30-day-trial period, after which you pay US$9.99 (Dh36.70) per month to gain access to a library of books and discounts of up to 30 per cent on selected titles. You can cancel your subscription at any time. For more details go to www.booklava.com