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In Pakistan, authorities said more than 300 of its nationals died in the tragedy, but did not specify how they received the information. The Federal Investigation Agency of Pakistan in a statement Tuesday said that 88 people have officially been registered as missing by family members. Last week, Greek authorities denied claims that the boat had capsized after the coast guard attempted to tow it to shore. Migrants rest in a shelter, following a rescue operation, after their boat capsized at open sea, in Kalamata, Greece, June 14, 2023. “This is what they’re doing and it’s absolutely necessary to prevent it.”Migrants arrive at the port of Kalamata, following a rescue operation, after their boat capsized at open sea, in Kalamata, Greece, June 14, 2023.

Persons: Adriana, Saeed Anwar, Abdul Jabbar, selfie, Gibran Peshimam, Jabbar, Anwar, ” Anwar, “, ”, Tarek Aldroobi, Stelios Misinas, Raja Aqeel, Aqeel, Home Affairs Ylva Johansson, Johansson Organizations: Kashmir CNN, Federal Investigation Agency of Pakistan, Union, CNN, United Nations Migration Agency, Authorities, Reuters, Home Affairs, ”, Eurokinissi, Reuters Authorities, Human Rights Locations: Bandali, Pakistan, Kashmir, Greece, Europe, Khuiratta, Italy, Libya, East, Asia, Africa, Kalamata, Islamabad, Lahore, Gujrat, Gujranwala, Rawalpindi

☆ Rescue Crews Race Against Time to Locate Missing Titanic Submersible
▼ + stars: | 2023-06-20 | by ( Saeed Shah | Joanna Sugden | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Who Are the Five People Aboard the Missing Titanic Tourist Submersible? What We Know So Far
▼ + stars: | 2023-06-20 | by ( Saeed Shah | Joanna Sugden | ) www.wsj.com time to read: 1 min

The search involving aircraft and surface vessels was intensifying in an area about 900 miles off Cape Cod, Mass., in water about 13,000 feet deep, to find the craft. An undated photo of the Titan. OceanGate/Abaca Press/Zuma Press

Persons: Abaca Press Organizations: Abaca, Zuma Locations: Cape Cod

☆ Goldman Sachs Asset Management head of healthcare investing to leave
▼ + stars: | 2023-06-20 | by ( Saeed Azhar | ) www.reuters.com time to read: +1 min

NEW YORK, June 20 (Reuters) - The head of healthcare investing at Goldman Sachs Asset Management (GS.N), Jo Natauri, will leave the company at the end of the year to pursue other opportunities in the sector. "We're entering a pretty attractive period for healthcare private investing, which I think could be pretty interesting to explore," Natauri told Reuters, without giving details about her next move. Goldman Sachs Asset Management (GSAM) has invested $5 billion in healthcare assets over the last five years, she said. Natauri, who will step down from Goldman Sachs Group's elite partner ranks, spent 17 years at the U.S. banking group. "She's poised for success, and I'll be rooting for her," Goldman Sachs CEO David Solomon said in a statement.

Persons: Jo Natauri, Natauri, Goldman, Goldman Sachs, She's, David Solomon, Nicole Agnew, Jeff Bernstein, Adam Dawson, Saeed Azhar, Lananh Nguyen, Susan Fenton Organizations: YORK, Goldman Sachs Asset Management, Reuters, Asset Management, Thomson

☆ How Modi went from being banned to embraced by the United States
▼ + stars: | 2023-06-20 | by ( Rhea Mogul | ) edition.cnn.com time to read: +9 min

CNN —Indian Prime Minister Narendra Modi was once shunned by the United States. But in the nine years since that ban was lifted, Modi has been progressively embraced by the White House – now more than ever. Modi will also lead celebrations for the International Day of Yoga at the United Nations headquarters in New York on Wednesday, illustrating the influence of India’s soft power. US President Joe Biden meets with Modi during the Quad leaders summit at Kantei Palace in Tokyo, on May 24, 2022. Modi and Russian President Vladimir Putin pose for photographs at Hyderabad House in New Delhi, India, on December 6, 2021.

Persons: Narendra Modi, Modi, Joe Biden, Evan Vucci, Biden, Delhi’s, Modi’s, Daniel S, Markey, ” Markey, ”, “, Anthony Albanese, James Marape, Volodymyr Zelensky, aren’t, Saeed Khan, “ Modi, –, John Sifton, Sushant Singh, ’, Tanvi Madan, Vladimir Putin, Narayan, Madan, Vinay Kwatra, ” Madan Organizations: CNN, Indian, White, International, United Nations, Biden, Bharatiya Janata Party, BJP, United States Institute of Peace, Washington, Australian, Australia's, Admiralty House, Getty, Rights Watch, Amnesty International, BBC, Policy Research, Brookings Institution, Kremlin, Russia, Bloomberg, Indian Air Force, India’s Locations: United States, Washington, New York, Tokyo, India, South Asia, China, Sydney, Papua New Guinea, Japan, AFP, Asia, Gujarat, New Delhi, Delhi, Russia, Ukraine, Moscow, Russian, Hyderabad

June 16 (Reuters) - Customers Bancorp (CUBI.N) said on Friday it acquired a $631 million venture banking loan portfolio from U.S. regulator Federal Deposit Insurance Corporation (FDIC) at about 85% of the book value. The portfolio belonged to failed lender Signature Bank, which was put under FDIC receivership in March, a source familiar with the matter told Reuters. Customers Bancorp shares rose on the news to their highest level since early March, and were up 3.3% at $30.23 at midday. On March 12, state regulators closed New York-based Signature Bank, marking this year's second high-profile bank collapse sparked by an exodus of depositors seeking higher returns and safer institutions. Following the bank's closure, the FDIC had announced in April the marketing process for the roughly $60-billion loan portfolio retained in receivership from Signature Bank.

Persons: Michael Perito, Keefe, Perito, Manya Saini, Saeed Azhar, Shailesh Kuber, Richard Chang Organizations: Customers Bancorp, Deposit Insurance Corporation, Signature Bank, Reuters, FDIC, Bancorp, Loans, Bank, New York Community Bancorp, Thomson Locations: Austin, Boston, Southern California, Chicago, New York, Bengaluru

☆ Fed, SEC probing Goldman Sachs' role in Silicon Valley Bank's final days - WSJ
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

Silicon Valley Bank had booked a $1.8 billion loss on the sale of a bond portfolio to Goldman. "SVB engaged Goldman Sachs to assist with a proposed capital raise and sold the firm a portfolio of securities. Goldman had disclosed last month it was cooperating with government probes into its dealings with Silicon Valley Bank. In March, Reuters reported U.S. prosecutors were investigating the collapse of Silicon Valley Bank. Silicon Valley Bank's demise sent shockwaves through the industry and brought on the worst crisis for the sector in 15 years.

Persons: Goldman Sachs Group's, SVB, Goldman Sachs, Goldman, shockwaves, Niket, Saeed Azhar, Chris Prentice, Krishna Chandra Eluri, Maju Samuel Organizations: U.S . Federal Reserve, Securities and Exchange Commission, Silicon Valley Bank, Wall Street, Bank, Goldman, Reuters, Fed, SEC, Thomson Locations: Silicon, Bengaluru, New York

☆ Pakistan’s Military Tightens Grip With Broad Clampdown on Opposition, Media
▼ + stars: | 2023-06-15 | by ( Saeed Shah | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

[1/2] A view of the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. The latest round of penny-pinching comes as Goldman Sachs management grew more pessimistic about an economic recovery and dealmaking this year. Goldman Sachs investment banking revenue is down 52% in that same period, the Dealogic data showed. Goldman Sachs trades at 0.97 times its book value, lagging rivals Morgan Stanley and JPMorgan Chase & Co (JPM.N) which trade at 1.45 times and 1.33 times, respectively, according to Refintiv data. Reuters GraphicsThe headcount reductions and cost cutting do not solve Goldman's fundamental challenges: its reliance on investment banking and trading.

Persons: Goldman Sachs, Andrew Kelly NEW, Goldman, David Solomon, John Waldron, Morgan Stanley, pare, Brennan Hawken, Waldron, Saeed Azhar, Lananh Nguyen, Tatiana Bautzer, Andrea Januta, Anna Driver Organizations: REUTERS, Andrew Kelly NEW YORK, Goldman Sachs, Investment, Lazard Ltd, Citigroup Inc, JPMorgan Chase &, Reuters, Thomson Locations: Manhattan , New York, U.S, New York, Bengaluru

☆ Bank of America commits $500 million to funds led by minority, women entrepreneurs
▼ + stars: | 2023-06-15 | by ( Saeed Azhar | ) www.reuters.com time to read: +2 min

NEW YORK, June 15 (Reuters) - Bank of America Corp (BAC.N) on Thursday said it has committed more than $500 million in equity investments to funds led by minority and women entrepreneurs, more than doubling from its initial commitment of $200 million. The bank has committed equity to more than 150 funds, which to date have invested in over 1,000 companies that span 40 states, it said. These companies are led by 1,500 diverse entrepreneurs and employ over 21,000 people. "As a company, we looked at how to support women and diverse entrepreneurs," Tram Nguyen, global head of Strategic and Sustainable Investments at Bank of America, told Reuters. "Each time we support a minority or women-led fund, they in turn support diverse entrepreneurs, which ultimately helps us toward achieving our goal to advance racial equality and economic opportunity," Nguyen said.

Persons: Nguyen, Nasir Qadree, George Floyd, Saeed Azhar, Chizu Nomiyama, Mark Porter Organizations: YORK, Bank of America Corp, Strategic, Sustainable Investments, Bank of America, Reuters, Capital Partners, Thomson Locations: Esusu

☆ Without climate change, these extreme weather events would not have happened
▼ + stars: | 2023-06-15 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +13 min

People often want to know if an extreme weather event happened because of climate change, said Friederike Otto, climate scientist and co-lead of the World Weather Attribution initiative. And, more often than not, they are finding the clear fingerprints of climate change on extreme weather events. “We’re always going to have extreme weather, but if we keep driving in this direction, we’re gonna have a lot of extreme weather,” said Ted Scambos, a glaciologist at the University of Colorado-Boulder. Alexander Nemenov/AFP/Getty ImagesSiberian heat wave, 2020In 2020, a prolonged, unprecedented heat wave seared one of the coldest places on Earth, triggering widespread wildfires. A study from the journal Nature Climate Change found the period from 2000 to 2021 was the driest the West has ever been in 1,200 years, noting human-caused climate change made the megadrought 72% worse.

Persons: Friederike Otto, Otto, We’re, we’re, ”, Ted Scambos, Alexander Nemenov, Andrew Ciavarella, Kathryn Elsesser, San Salvador de la, Aitor De Iturria, ” Otto, Mamunur Rahman Malik, “, Fadel Senna, Debarchan Chatterjee, Saeed Khan, koalas, David Paul Morris, Lake Powell, Hurricane Ian, Ricardo Arduengo, Ian, Lawrence, Abdul Majeed, António Guterres Organizations: CNN, University of Colorado -, Getty, UK’s Met, Oregon Convention, Northern, World Health Organization, South Asia, Bloomberg, Western, Stony Brook University, Lawrence Berkeley National Laboratory ., UN Locations: University of Colorado - Boulder, Siberia, AFP, Oregon, Portland, Pacific, . Oregon, Washington, Canada, British Columbia, Canadian, Lytton, San Salvador de, Cercs, Catalonia, Spain, North America, Europe, China, Dahably, Wajir County, Kenya, Africa, Horn of Africa, Somalia, Ethiopia, Masseoud, Morocco, Portugal, Algeria, Kolkata, India, South Asia, South, Vietnam, Myanmar, Laos, Bangladesh, Thailand, New South Wales, Australia, Oroville, Oroville , California, States, California, Lake Oroville, Lake Mead, Lake, Nevada, Arizona, Mexico, Hurricane, Matlacha , Florida, Caribbean, Florida, Swat, Bahrain, Khyber Pakhtunkhwa, Pakistan, Sindh, Balochistan

Ms. Hanif’s family history illustrates how Bangladeshi Kensington came to be. While the corner is often a male-dominated space, she and other Bangladeshi American women have carved out their own places there. Ms. Saeed wants to buy a house, but real estate in Kensington has become far too expensive. Ms. Saeed also faced opposition as she was growing up, from relatives on her mother’s side who frowned upon dance. With other public spaces so dominated by men, Ms. Ferdous sees it as vital that women gather to keep their traditions alive.

Persons: Shahana Hanif, Hanif’s, Hanif, Radhuni, Ms, Mir Hossain, Hossain, “, ”, Sala Miah, Rubel, Tarek Aziz, Uddin, Farojan Saeed, Syed Rehan, Saeed, Annie Ferdous, Ferdous, Eid, Mr, Mahmud Organizations: Young, City Council, Bangladesh Institute of Performing Arts, Bangladeshi Institute of Performing Arts, McDonald Locations: Kensington, Bangladesh, Pakistan, “, United States, America, Bengal, Noakhali, Chittagong, Sandwip, Brooklyn, East, South America, Colombia, Panama, Dhaka, Bangladeshi, Manhattan, East New York, Jackson Heights, Ozone, New York, Motiul, Philadelphia, Jessore District, Jamaica, Queens

☆ Wells Fargo CFO expects upside in net interest income
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, June 13 (Reuters) - Wells Fargo & Co (WFC.N) expects an upside in net interest income going ahead, Chief Financial Officer Mike Santomassimo said on Tuesday. The bank had earlier issued guidance for a 10% higher net interest income this year, more than the full-year 2022 level of $45 billion. The lender expects losses in office loans, which have seen some pressure as property values have declined and more borrowers are defaulting on their loans. In the January-March quarter, the bank had reported a $643 million increase in the allowance for credit losses, including for loans on commercial real estate, credit cards and cars. Regulators have also ordered it to improve governance and oversight, which has curtailed balance sheet growth and increased regulatory expenses.

Persons: Mike Santomassimo, Santomassimo, Nupur Anand, Saeed Azhar, Jason Neely, Jonathan Oatis Organizations: YORK, Fargo & Co, U.S, Regulators, Thomson Locations: San Francisco, New York

NEW YORK, June 12 (Reuters) - JPMorgan Chase (JPM.N) agreed to pay about $290 million to settle a class action lawsuit by Jeffrey Epstein's victims, resolving a large part of litigation over the bank's relationship with the disgraced financier. Monday's settlement came 3-1/2 weeks after Deutsche Bank (DBKGn.DE), where Epstein was a client from 2013 to 2018, agreed to pay $75 million to end a similar lawsuit by Epstein victims. "A settlement with Epstein's victims frees JPMorgan to begin to turn the page and change the narrative." The $290 million settlement amount was confirmed by David Boies, a lawyer for Epstein's victims. Last month, Rakoff said JPMorgan could be liable to Epstein's victims if they could show Staley had firsthand knowledge that Epstein ran a sex-trafficking venture.

Persons: JPMorgan Chase, JPM.N, Jeffrey Epstein's, Epstein, Jane Doe, Carliss Chatman, Chase, Temin, Jed Rakoff, JPMorgan, Adam Zimmerman, David Boies, Sigrid McCawley, Morgan Chase, Mike Segar JPMorgan, Jes Staley, shepherding, Staley, Rakoff, Jamie Dimon, Ghislaine Maxwell, Maxwell, Chatman, Mary Erdoes, Stephen Cutler, Dimon, Cutler, Jeffrey Epstein, Erdoes, Nupur Anand, Lananh Nguyen, Saeed Azhar, Luc Cohen, Jonathan Stempel, Tatiana Bautzer, Megan Davies, Alexander Smith, Grant McCool, Lisa Shumaker Organizations: YORK, JPMorgan, Washington, Lee University School of Law, U.S, Deutsche Bank, University of Southern, Co, New York City, REUTERS, U.S ., Barclays, U.S . Virgin, Thomson Locations: U.S, Manhattan, Virginia, University of Southern California, New York, U.S . Virgin Islands

NEW YORK, June 12 (Reuters) - JPMorgan Chase & Co (JPM.N) agreed in principle to settle a class action lawsuit with a victim of Jeffrey Epstein, the bank said in a statement Monday. Litigation is still pending between the U.S. Virgin Islands and JPMorgan Chase, as are JPMorgan Chase’s claims against former executive Jes Staley, the bank said. "The parties believe this settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein's terrible abuse," JPMorgan said. Epstein was a JPMorgan client from 1998 until he was dismissed in 2013. JPMorgan kept him aboard even after his 2006 arrest on prostitution-related charges and a related guilty plea two years later.

Persons: Jeffrey Epstein, Epstein, JPMorgan Chase, JPMorgan Chase’s, Jes Staley, Lananh Nguyen, Saeed Azhar, Kirsten Donovan, Jason Neely Organizations: YORK, JPMorgan Chase &, U.S ., U.S . Virgin Islands, JPMorgan, Thomson Locations: U.S, U.S . Virgin Islands, Manhattan, York, New York

NEW YORK, June 9 (Reuters) - Stephanie Cohen, the head of Goldman Sachs Group Inc's (GS.N) fintech unit called Platform Solutions, is taking a leave of absence for family reasons, she said in a memo to staff seen by Reuters. "The past year has brought some challenges for my family," Cohen said in the memo. Philip Berlinski, the bank's treasurer, and Ericka Leslie, its chief administrative officer, will handle Cohen's responsibilities in her absence. Cohen is the only woman executive to lead one of Goldman's three main business units. Cohen joined Goldman Sachs as an analyst in 1999, was named managing director in 2008 and partner in 2014.

Persons: Stephanie Cohen, Cohen, Philip Berlinski, Ericka Leslie, Goldman Sachs, Goldman, John Waldron, Lananh Nguyen, Saeed Azhar, Nick Zieminski Organizations: YORK, Goldman Sachs, Reuters, Thomson Locations: New York

"The fresh water is finished," said Khamis Adel, a lifelong fishermen and indigenous Marsh Arab from Al-Khora in Basra. It's a question asked by many who once lived off Iraq's marshlands, rich waterways which gave birth to civilization in ancient Mesopotamia. As the rivers and marshlands dry out, so too does the economy that they sustain. "Now a fisherman is nothing, they are like beggars," he said, pushing his boat along the canal in humid heat. Even after the 2003 U.S. invasion, when parts of the marshes were flooded again, water levels did not fully recover.

Persons: Essam, Khamis Adel, Mohsen, Hasan Moussa, Hasan, Naame Hasan, Adel, Saddam Hussein, Ahmed Saeed, Issam, Timour Azhari, William Maclean Organizations: REUTERS, UNESCO, of, U.N's, Organization for Migration, WE, Thomson Locations: Iraqi, Basra, Iraq, BASRA, NAJAF, Al, Khora, of Eden, Mesopotamia, Turkey, Iran, Najaf, U.S, Issam Sudani, Timour, Baghdad

NEW YORK, June 2 (Reuters) - Citigroup Inc (C.N) CEO Jane Fraser said scrapping the sale of its Mexican retail business, known as Banamex, and pursuing an initial public offering (IPO) was in the best interest of shareholders. "We acted decisively, we acted very swiftly and we said 'okay, we're gonna go down the IPO path,'" Fraser said in an investor conference in New York. Citi announced last week the sale process, which had dragged on for more than a year, had been scrapped. It has signed nine sales agreements nine markets and closed seven deals, including in Australia, India and Vietnam. The CEO held off on giving guidance about trading revenue, citing a landmark U.S. bill to lift the debt ceiling that has just passed and is still being digested by markets.

Persons: Jane Fraser, we're, Fraser, Goldman, John Waldron, Morgan Stanley, Tatiana Bautzer, Saeed Azhar, David Gregorio, Lananh Nguyen, Nick Zieminski Organizations: YORK, Citigroup Inc, Citi, Goldman Sachs, Inc, JPMorgan, Bank of America Corp, Citigroup, Thomson Locations: New York, Australia, India, Vietnam, U.S, Ukraine

[1/4] Holly O’Neill, President of Retail Banking at Bank of America speaks during a Newsmaker interview with Reuters in New York City, New York, U.S., May 31, 2023. "The consumer is still very healthy," Holly O'Neill, Bank of America's president of retail banking, said at a Reuters Newsmaker event. U.S. consumer spending increased more than expected in April, boosting the economy's growth prospects for the second quarter. Consumer spending on Bank of America cards fell 1.2 percent in April compared with a year earlier, the first year-on-year decline since February 2021, its data showed. The biggest shot O'Neill took in her career was moving to the consumer bank after serving as chief operating officer of the private-banking division.

Persons: Holly O’Neill, Mike Segar, Holly O'Neill, O'Neill, Erica, Lananh Nguyen, Saeed Azhar, Nupur Anand, Nick Zieminski Organizations: Retail Banking, Bank of America, Reuters, REUTERS, Bank of America Corp, Bank of, JPMorgan Chase &, First, Bank, Thomson Locations: New York City , New York, U.S

[1/2] John Waldron, president and Chief Operating Officer of Goldman Sachs, speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. REUTERS/Brendan McDermidNEW YORK, June 1 (Reuters) - Goldman Sachs Group Inc (GS.N) plans more workforce reductions as the difficult economic environment weighs on dealmaking, the bank's president said on Thursday. "The macro backdrop is extraordinarily challenging," Goldman's President and Chief Operating Officer John Waldron told investors at a conference, without specifying the scale of the layoffs. The firm is expected to cut fewer than 250 jobs in the coming weeks, a source familiar with the matter told Reuters in May. He also said he expects a 25% fall in market revenue for both equities and fixed income in the current quarter from a year earlier.

Persons: John Waldron, Goldman Sachs, Brendan McDermid, Waldron, Andy Saperstein, Morgan Stanley, Daniel Pinto, Saeed Azhar, Niket, Nick Zieminski Organizations: Goldman, REUTERS, Goldman Sachs Group Inc, Reuters, Wall Street, JPMorgan Chase, Thomson Locations: New York City, U.S, Wall

☆ Bank of America CEO sees investment banking and trading staying flat in Q2
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, June 1 (Reuters) - Bank of America Corp (BAC.N) expects investment banking fees and trading revenues to be broadly flat this quarter, its CEO, Brian Moynihan, told investors at a conference on Thursday. The second-largest U.S. bank posted investment banking fees of $1.1 billon in the second quarter last year. Loan growth will probably remain flat, Moynihan said. Reporting by Saeed Azhar and Lananh Nguyen; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Brian Moynihan, Moynihan, Saeed Azhar, Lananh Nguyen, Leslie Adler Organizations: YORK, Bank of America Corp, U.S, Thomson

NEW YORK, May 31 (Reuters) - Wells Fargo & Co's (WFC.N) Chief Executive Officer Charlie Scharf said on Wednesday that there will be losses in the office loan space but the lender was proactively managing its portfolio. But in the context of the overall portfolio and the overall size of our loan portfolio with the company, we are not overly concentrated in office (loan space)," Scharf said while speaking to investors at a conference. The bank's outstanding commercial real estate (CRE) loans stood at $154.7 billion, or 16% of total loans, with $35.7 billion in office loans at the end of March. Office loans have posed concerns for some lenders as property values decline and more borrowers default on their loans. The San Francisco-based bank set aside $1.21 billion in the first quarter to cover potential loan losses, compared to $787 million a year earlier.

Persons: Charlie Scharf, " Scharf, Scharf, Banks, We've, Wells Fargo, Nupur Anand, Saeed Azhar, Jason Neely, Nick Zieminski Organizations: YORK, U.S, Regulators, JPMorgan Chase &, Bank of America Corp, Citigroup Inc, Thomson Locations: San Francisco, New York

May 28 (Reuters) - Good news of a tentative deal for the U.S. debt ceiling impasse may quickly turn out to be bad news for financial markets. "That's where the debt ceiling matters." In that case, "the impact on broader financial markets would likely be relatively muted," Daniel Krieter, director of fixed income strategy, BMO Capital Markets, said in a report. Some bankers said they fear financial markets may not have accounted for the risk of a liquidity drain from banks' reserves. Bankers put it to hope that the debt ceiling impasse would be resolved without significant dislocation to markets, but warn that's a risky strategy.

☆ Former Pakistan Leader Imran Khan Says Country Is Under ‘Undeclared Martial Law’
▼ + stars: | 2023-05-27 | by ( Gordon Fairclough | Saeed Shah | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/former-pakistan-leader-imran-khan-says-country-is-under-undeclared-martial-law-ee48debb

☆ Turkey's runoff election is paralyzing key oil exports from northern Iraq
▼ + stars: | 2023-05-25 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +6 min

Oil typically flows through Turkey from both the Iraqi state and the semi-autonomous Kurdistan Regional Government (KRG). More specifically, this Kirkuk crude flows down the Iraq-Turkey Pipeline linking the north of the Gulf country with Turkey's Ceyhan port in the Mediterranean. But the flows have been paralyzed since March 25 by a legal dispute involving federal Iraq, the KRG and Turkey. This decision led to U.S. companies deciding to exit contracts in Kurdistan and deterred some KRG oil buyers from further purchases. "The ruling party in Turkey [Erdogan's AKP] wants to settle the elections and then deal with KRG's oil with Baghdad."

Persons: KRG, Hayan Abdul, Ghani, —, Recep Tayyip Erdogan, Kemal Kilicdaroglu, Lawk Ghafuri, Yerevan Saeed, Saeed, Bilal Wahab, Wagner Organizations: CNBC, Kurdistan Regional Government, Turkey Pipeline, International, Commerce's, Reuters, ICC, Baghdad, BTC, Kurdistan, Gulf Institute, Sinjar, Washington Institute for Near East Locations: Turkey, Ankara, Baghdad, Iraqi, Kurdistan, Kirkuk, Iraq, Basra, Paris, U.S, Ceyhan, Baku, Syria, Erbil, Yerevan, Washington

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