Showing posts with label All. Show all posts
Showing posts with label All. Show all posts

Friday, January 27, 2023

Pakistan: We will get Russian oil starting next April

    Friday, January 27, 2023   No comments

Pakistan's Petroleum Minister Mossadeq Malik announces that Pakistan will start importing crude oil from Russia in April 2023, stating that this "will be beneficial for both countries."

Pakistani Petroleum Minister Mussadeq Malik announced today, Friday, that Pakistan will start importing crude oil from Russia in April 2023, after Moscow and Islamabad ended their negotiations on the terms of supply, including the issue of payment related to the use of a currency other than the dollar.


Malik added, "In March, all trade clauses of the agreement with Russia will be finalized, after which low-cost crude oil will start arriving in Pakistan. It will be beneficial for both countries," according to the Pakistani newspaper News.


Pakistan has also begun to develop a comprehensive energy security plan, which will be completed by the end of 2023, and includes the import of Russian liquefied natural gas (LNG), pipeline gas, and other petroleum products, according to the newspaper's report.


Earlier, Russian Energy Minister Nikolai Shulginov and Pakistan's Economy Minister Ayaz Sadiq held a meeting, where the two sides agreed to agree on all details of oil and gas supplies by March.


Shulginov noted that discussions on oil supplies will not begin until after February 5, after the price ceiling for Russian refined products, introduced by Western countries, comes into effect.


Shulginov added that "Russia may participate in power generation projects in Pakistan, including the modernization and construction of hydroelectric power plants and thermal power plants."


On January 19, Russia and Pakistan announced their readiness to sign the necessary documents for the construction of the "Pakistani Stream" gas pipeline.


The Russian delegation headed by Shulginov arrived in Pakistan, on January 17, to hold bilateral talks for a period of 3 days, within the framework of the work of the joint Russian-Pakistani governmental committee for trade, economic, scientific and technical cooperation.


Western countries have been seeking ways to limit Russia's revenues from oil and gas exports, as well as its dependence on Russian fuel since Moscow launched a military operation in Ukraine on February 24, 2022.


On December 5, the European Union set a ceiling for the price of Russian oil, $60 a barrel, and the G7 countries and Australia joined.


Despite this, Washington and its allies agreed to review the level of the ceiling imposed on the export prices of this oil next March.


Canada's Prime Minister, Trudeau, appoints Canada’s First Special Representative on Combatting Islamophobia

    Friday, January 27, 2023   No comments

 A statement issued by the Canadian Prime Minister's office said that journalist and activist Amira Al-Ghawabi will fill the position "to be an advocate, advisor, expert and representative to support and strengthen the federal government's efforts to combat Islamophobia, systemic racism, racial discrimination and religious intolerance."

Al-Ghawabi is a human rights activist, public relations officer at the Canadian Race Relations Foundation and columnist for the Toronto Star, having previously worked for more than a decade at CBC (CBC). CBC) Canadian Public Broadcasting.


In her new position, Al-Ghawabi will promote awareness of the diverse and intersecting identities of Muslims in Canada and advise the government in developing comprehensive policies, legislative proposals, programs and regulations that reflect their realities, helping to promote respect for equality, inclusion and diversity and highlighting the important contributions of Muslims to the Canadian national fabric, according to her. Prime Minister's statement.


For his part, Prime Minister Justin Trudeau praised - via Twitter - the appointment of Al-Ghawabi, which he saw as "an important step in our fight against Islamophobia and hate in all its forms."


"Diversity is really one of Canada's greatest strengths, but for many Muslims, Islamophobia is very familiar," he added.

Over recent years, a series of bloody attacks have targeted Canadian Muslims.




In June 2021, 4 members of a Muslim family were killed when someone ran them over with his truck in Ontario.


And 4 years before that, 6 Muslims were killed and 5 injured in an attack on a mosque in Quebec City.


In a series of tweets she posted on Thursday, El-Ghawabi listed the names of the people killed in the recent attacks, writing, "We must never forget."


The creation of the new position came as part of the recommendations of a national summit on Islamophobia organized by the federal government in June 2021 in response to these attacks.


Monday, January 23, 2023

Commenting on Sweden's permission to burn the Qur'an, Turkish FM, Cavusoglu, says, Hate crimes are not freedom of expression

    Monday, January 23, 2023   No comments

Turkish Foreign Minister Mevlüt Çavuşoğlu will denounce the Swedish authorities' permission for the leader of the far-right Danish "hard line" party, Rasmus Paludan, to burn a copy of the Holy Qur'an in the capital, Stockholm, and stressed that such crimes do not fall within the framework of freedom of expression.

Çavuşoğlu said that they "do not allow the burning of books of other religions, but when it comes to the Holy Qur'an and hostility to Islam, they immediately invoke freedom of thought and expression."


The Turkish minister stressed that hate and racism crimes do not fall within the framework of freedom of thought and expression, whether according to Swedish laws or decisions of the Council of Europe or the European Court of Human Rights.

He pointed out that Turkey was quick to take the necessary steps as soon as it learned that the Swedish authorities had allowed the extremist in Al-Wadan to burn a copy of the Noble Qur’an in front of the Ankara embassy building in Stockholm.


Davutoglu indicated that the Turkish Foreign Ministry summoned the Swedish ambassador to Ankara to the ministry's headquarters and issued the necessary warnings to him, explaining that the Turkish ambassador to Stockholm, Yonat Janzel, spoke directly with the Swedish Foreign Minister Tobias Bilstrom in this regard.


He expressed his hope that the Swedish authorities would take the necessary measures at the last minute and prevent this racist and hate crime from happening, which would cause outrage in the entire world.

After the event, Turkish President Recep Tayyip Erdogan stressed that Sweden should no longer wait for Ankara to take any step within the framework of accepting its accession to NATO, in light of the burning of the Holy Quran in Stockholm.


Erdogan added, "You want to support terrorist organizations, and you support those who are hostile to Islam, and you want us to support your joining NATO... This will not happen at all."


And the Turkish president added, "We say clearly... Sweden is no longer waiting for any support from us for its accession to NATO... We say clearly that no one has the right to insult our sacred values."


Last Saturday, the Swedish-Danish extremist Ramsos Paludan carried out what he promised to burn a copy of the Holy Qur’an in front of the Turkish embassy in Stockholm, amid great police protection and a large media presence.


Joseph Borrell: "You can't say I consider you a terrorist because I don't like you."

    Monday, January 23, 2023   No comments

In a rare admission, the EU top diplomat suggests that the label “terrorist”, when used by politicians, can be void of any legal validity. Speaking before a meeting of EU foreign ministers which will discuss the designation of Iran’s revolutionary guards, a branch of the Iranian armed forces, as a terrorist entity, he declared that "You can't say I consider you a terrorist because I don’t like you."

The European Union foreign policy chief, Joseph Borrell, conditioned the validity of the designation by a court ruling: "This matter cannot be decided without a court, a court decision first."

He pointed out that a court in an EU member state must issue a concrete legal conviction, before the bloc itself can move in this regard.




Sunday, January 22, 2023

Will next week be decisive in determining the fate of the global economy?

    Sunday, January 22, 2023   No comments

Bloomberg Agency presents a reading of the most important global economic changes, and indicates the possibility of a total change in global markets, especially after the Chinese decision to completely abandon the steps to combat Corona.


Next week may show more reasons for hope about the global economy, after bleak months filled with negative signs of a deep recession, as some data could reflect the gradual improvement of business partnerships in most parts of the developed world.

Economists expect purchasing managers' indices for both the United States and the eurozone to rise, while many metrics will still point to contraction, the upward trend of travel could add to optimism, according to a Bloomberg report.



Global Purchasing Managers Activity

Such possibilities are reinforced by China's post-pandemic reopening, evidence of slowing inflation, and the emphatic views of some senior European officials that their economies will not stagnate. International Monetary Fund Managing Director Kristalina Georgieva hinted on Friday that the lender may soon raise its forecasts for this year.


"We have, clearly, the strength of labor markets translating into consumer spending and sustaining the economy, and as China reopens, we expect growth this year to again exceed the global average," Kristalina Georgieva said at the World Economic Forum in Davos, Switzerland.


But prices in the US will also be decisive, and the first estimate of Q4 GDP there, due on Thursday, could be helpful. The economy is expected to show expansion at an annual rate of 2.7% in the last three months of 2022, after a pace of 3.2% in the third quarter.


While this data points to strong growth, recent data, including retail sales, home construction and industrial production, showed that momentum was starting to fade in late 2022.


Economists, polled by Bloomberg, see US gross domestic product falling for two consecutive quarters in the middle of this year as sharp interest rate increases by the Federal Reserve curbed demand.


While Asian momentum could provide a boost to these expectations, the IMF chief noted that there is a risk that its contribution to the global economy could be derailed.


Expert point of view

America's fourth-quarter GDP will be boosted largely by strong consumer spending on services, even as goods decline.


Households continued to benefit from excess savings from the stimulus and benefit from strong wage gains, and tightening monetary policy means that 2023 will see significantly weaker demand.


Elsewhere, multiple interest rate decisions may include a possible eventual BoC hike, and a 12th consecutive rate hike in Colombia.


Australia and New Zealand may report slowing consumer price growth, while Eurozone policymakers have one last chance to speak before they meet the following week.


United States and Canada

Apart from the US PMI and GDP reports, the government is expected to announce on Friday that inflation-adjusted personal spending on goods and services fell in December for the first time in a year.


The data is also expected to show moderate inflation rates on an annual basis, but they will remain high. Fed officials, who are watching ahead of the end-of-month meeting, will take note of signs of a slowing economy and moderate inflation. Other reports are expected to show a decline in new home sales and core capital goods.


Looking north, the Bank of Canada appears to have put a cap on one of the most aggressive tightening campaigns in its history, with what economists and markets expect to be a final 25 basis point increase in borrowing costs on Wednesday.


Policy makers led by Governor Tiff Macklem will likely refrain from announcing a complete halt to hikes, opting instead to keep the benchmark rate at 4.5% while maintaining a hawkish tone while watching how quickly the economy declines.


The decision is complicated by conflicting data. Canada's ultra-tight labor market continues to add jobs with unemployment near a record low, and economic output is set to expand in the fourth quarter of 2022 at twice the pace of the central bank's previous forecast.


Annual inflation remains uncomfortably high at 6.3%, but the underlying pressures are showing clear signs of abating. Meanwhile, heavily indebted Canadian households are feeling the crunch of higher rates and are starting to cut back on their spending.


Asia

Australia and New Zealand reported their latest inflation figures in the middle of the week, as the RBA contemplates halting its tightening cycle and the RBNZ contemplates its next move after a big rally in November.


In South Korea, Thursday's GDP results may show the economy contracting, a result that could reinforce caution in the central bank.


In Japan, Friday's Tokyo CPI data should indicate whether inflation is closer to peaking in the world's third-largest economy.


Two closely watched South Asian economies, Pakistan and Sri Lanka, will decide key interest rates, along with Thailand.


In turn, the Philippines reported the performance of its economy in 2022, which President Ferdinand Marcos Jr. estimated would grow at 7%.


The Thai Ministry of Finance will provide its latest economic estimate later next week. China will be closed all week due to the Lunar New Year holiday.


Europe and Africa

The last window for ECB officials to communicate ahead of the February 2 interest rate decision will close on Thursday. At the same time, Eurozone data may give more indications of the health of the economy.


Officials are scheduled to appear several times before then, including Bank President Christine Lagarde, who pledged to the Davos audience that she would "stay the course" on monetary policy.


In Germany, where Chancellor Olaf Scholz is now convinced a recession will be avoided, Wednesday's Ifo Business Confidence report is expected to show improvement across all measures. Meanwhile, the first estimate of Spain's GDP for the fourth quarter may reveal a slight expansion.


The UK faces a few quieter days than it has lately, with no monetary policy speakers from the Bank of England and the PMI survey and fiscal data among the only items expected.


And in Hungary, the central bank will set the base interest rate at a monthly meeting on Tuesday, as investors eye a possible pivot towards monetary easing at the depository tender two days later. To the east, Ukrainian officials are expected to keep their benchmark unchanged at 25%.


Regarding Africa, the Central Bank of Nigeria is expected to slow its monetary tightening on Tuesday, with an increase of 50 basis points. Inflation slowed unexpectedly in December, but remained well above the policy target, deterring saving.


On Wednesday, Mozambique's policymakers are likely to leave official borrowing costs unchanged for the second consecutive meeting as inflation expectations slow.


Having prepared early for its battle against the worst global inflation shock in a generation, the Reserve Bank of South Africa is also likely to slow its rate hike on Thursday. Investors expect a more than 80% chance of a rate hike of 25 basis points.


Latin America

On Tuesday, consumer price reports are likely to confirm the formidable challenge facing policymakers in the region's two largest economies.


On an annual basis, Brazil may record a gradual move down from the level of 5.9%, while the main and fundamental results in Mexico as a whole remain unchanged from their latest readings at 7.86% and 8.34%, respectively.


In Argentina, GDP data could be disappointing for a third month, with an overvalued peso and near triple-digit inflation threatening deflation in the fourth quarter.


All certainty, the Central Bank of Chile will keep its benchmark rate at a two-decade high of 11.25% for the second consecutive meeting on Thursday. Inflation that has reached 4 times the target as the economy slips into recession puts Central Bank President Rosana Costa in an awkward position.


Observers in Colombia largely expect the central bank to extend a record cycle of interest increases, with 12 consecutive rate hikes to 13%, in the face of the sharpest wave of inflation in a generation.


Surprisingly, Finance Minister Jose Antonio Ocampo, who is a voting member of the bank's board of directors, said on Tuesday that "the bank does not need to raise again and inflation has peaked, both of which contradict the bank's own polls of analysts."


Saudi Religious Rulers: There is no validity to apostasy law in Islam

    Sunday, January 22, 2023   No comments

For years, the Saudi political rulers used the fictitious apostasy law to kill political opponents, religious Salafi authority found the fictitious bases for the political rulers to do so. Now with the Saudi political rulers changing their tune about apostasy, the Saudi Religious Rulers are preparing the ground for them to change apostasy law. An influential Saudi religious authority just declared this: "There is no validity to apostasy."


Tolerance with regard to leaving the Islamic religion in Saudi Arabia, or what is known as apostasy and the apostate from Islam, was not permissible or open to discussion.

“There is no punishment for apostasy unless the apostate is against the ruler.”

However, as the Kingdom entered the era of openness, rational voices began to address these controls, the latest of which was what Ahmed Al-Ghamdi, the former director of the Commission for the Promotion of Virtue and the Prevention of Vice, dared to do, and his writing of an article entitled “There is no validity until apostasy.”


Al-Ghamdi said in his article, which sparked controversy among Saudis, that what is established in the court texts of the Qur’an is the freedom of man in his faith, and that there is no compulsion in religion. Abstract apostasy is an explicit, coherent, correct text that cannot be challenged.

Al-Ghamdi added: I will explain here the response to the suspicions of this objection, as follows: First: They argued with what the two sheikhs included in their Sahihs on the authority of Ibn Masoud, who said: The Messenger of God said: “The blood of a Muslim who testifies that there is no god but God and that I am the Messenger of God is not lawful except in one of three “A life for a life, the married adulterer, the one who separates from his religion and the one who abandons the group.” They said, “This is a report in the Two Sahihs that states that the apostate should be killed.” I said: This hadith is incorrect, and it is not accepted that it is clear for the following: First: Its chain of transmission is weak, because its effect is on the most basic, and it is fraudulent. He narrated it with cursing, and what he cursed will not be accepted from him.”


The Saudis were divided over Al-Ghamdi's interpretations. Some of them found that he inferred false evidence, and its purpose was to waste God's law, and some of them found that Sheikh Al-Ghamdi is leading a battle of thought and enlightenment against the extremists.

Those who rejected Al-Ghamdi’s article invoked what Ibn Taymiyyah said in Al-Sarim Al-Masloul: Apostasy is of two types: an abstract apostasy, and a severe apostasy, the law of killing in particular, and both of them have established evidence that the owner must be killed.

The Saudi authorities were leveling accusations of apostasy, not only with regard to leaving Islam, but those charges included insulting the divine being and the Prophet Muhammad, and criticizing the Saudi state for applying the provisions of Sharia, for example, the charges that were leveled against the Palestinian poet Ashraf Fayyad, and a death sentence was issued against him. Then it was commuted to 8 years in prison.

Saudi Arabia has not yet abolished the “punishment of apostasy,” and in some cases replaces its mandatory punishment with death, with imprisonment.



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