Debt Agency – CTXETG http://ctxetg.com/ Fri, 08 Oct 2021 10:13:57 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://ctxetg.com/wp-content/uploads/2021/06/icon-150x150.png Debt Agency – CTXETG http://ctxetg.com/ 32 32 Namra runs after 15-year-old tax debt https://ctxetg.com/namra-runs-after-15-year-old-tax-debt/ https://ctxetg.com/namra-runs-after-15-year-old-tax-debt/#respond Fri, 08 Oct 2021 08:38:08 +0000 https://ctxetg.com/namra-runs-after-15-year-old-tax-debt/ There are Namibian $ 12 billion in taxes owed to the Namibian government by taxpayers, and some date back to around 2006, the Namibia Revenue Agency (Namra) said. However, N $ 12 billion is only the principal amount, which excludes N $ 8 billion in accrued interest and N $ 36 billion in penalties. In […]]]>

There are Namibian $ 12 billion in taxes owed to the Namibian government by taxpayers, and some date back to around 2006, the Namibia Revenue Agency (Namra) said.

However, N $ 12 billion is only the principal amount, which excludes N $ 8 billion in accrued interest and N $ 36 billion in penalties.

In short, the government owes N $ 56 billion to individuals, businesses and government institutions.

The principal amount cannot be amortized, however, the tax administration can amortize 75% of the accrued interest, provided that the arrears file their taxes. They have until January 31, 2022 to do so.

The revenue agency’s national tax official, Idi Itope, urged those who owe taxes to voluntarily settle their debts or face penalties, though he could not say what the penalties would be, nor when the tax authorities would attack those who do not respect the rules. .

Itope was speaking during a media engagement on Tuesday.

“The cost of compliance is lower than the cost of non-compliance. If you don’t comply, you risk your pension fund and future bonuses. It’s cheaper to pay what’s owed and comply, ”Itope added.

Namibia currently has a total of 887,500 registered taxpayers, with a 43% non-compliance rate. In terms of taxpayer accounts, the bulk comes from income tax with 768,369 people registered, or 86%. Next come VAT and imports with 67,267 registrations or 8%, employers with 17,631 or 2% and other taxes are at 34,301 or 4%.

Itope explained that what constitutes “other” would be royalties, transfer duties, stamp duties, absence of residence, etc.

Namra has been around for about four months and has so far raised N $ 23 billion, out of a total revenue target of N $ 48.8 billion for fiscal year 2021/2.

Itope added that the revenue agency was working on ways to tax the informal economy, which he said is a major contributor to the country’s gross domestic product.

Namra’s commissioner Sem Shivute, speaking on the same platform, said the agency does not allow corruption, which is evident in its achievements over the past four months.

He said the idea was to transform the agency into a world-class company passionate about its work. The commissioner added that the agency’s achievements are the result of the people who work there, as well as the leadership.

“We want to be the best at what we do and we are committed to serving with passion. Our work must have an impact and a difference in the life of every Namibian, ”said Shivute.

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Afghan electricity body to sell estates to pay off debt: report https://ctxetg.com/afghan-electricity-body-to-sell-estates-to-pay-off-debt-report/ https://ctxetg.com/afghan-electricity-body-to-sell-estates-to-pay-off-debt-report/#respond Thu, 07 Oct 2021 03:26:00 +0000 https://ctxetg.com/afghan-electricity-body-to-sell-estates-to-pay-off-debt-report/ ANI | Update: 07 Oct 2021 8:56 AM STI Kabul [Afghanistan], October 7 (ANI): Amid a growing debt crisis, the Afghan electricity body is preparing to sell the assets of its debtors with the aim of paying nearly $ 62 million in bills. electricity to Central Asian countries, media reported on Thursday.The move comes as […]]]>



ANI |
Update:
07 Oct 2021 8:56 AM STI

Kabul [Afghanistan], October 7 (ANI): Amid a growing debt crisis, the Afghan electricity body is preparing to sell the assets of its debtors with the aim of paying nearly $ 62 million in bills. electricity to Central Asian countries, media reported on Thursday.
The move comes as reports suggest that the country’s capital, Kabul, may fall into obscurity due to the non-payment of dues from Central Asian electricity providers by the new Taliban leadership.
The Afghan state authority, Da Afghanistan Breshna Sherkat (DABS), is considering selling the homes of former officials and politicians who have failed to pay electricity bills and have consumed a large amount of electricity, the government reported. Khaama Press news agency.
Safiullah Ahamdzai, the acting chief of DABAS, said they will implement the plan and pay off all debts to prevent exporting countries from cutting electricity.
Electricity imports from neighboring countries such as Uzbekistan, Tajikistan and Turkmenistan account for 80 percent of the country’s electricity consumption.

Daud Noorzai, who has resigned as chief executive of the country’s public authority, DABS, warned the situation could lead to a humanitarian catastrophe, the Wall Street Journal (WSJ) reported.
“The consequences would be nationwide, but especially in Kabul. There will be a blackout and that would take Afghanistan back to the dark ages when it comes to power and telecommunications,” Noorzai said. . “It would be a really dangerous situation.”
According to the WSJ report, Afghanistan does not have a national electricity grid and Kabul depends almost entirely on imported electricity from Central Asia.
Although electricity is plentiful in Kabul, things could change if suppliers in Central Asia, whose ties to the Taliban deteriorate, decide to cut DABS for non-payment.
Several United Nations agencies and other global organizations have expressed deep concerns about the dire economic situation in the country, which threatens to exacerbate the ongoing humanitarian crisis.
The United Nations said on Thursday that it had not received any requests from any entity in Afghanistan to pay utility bills before Kabul faced a massive blackout.
“We have seen these reports in the media,” UN spokesman Stéphane Dujarric said at a press briefing on Wednesday. “UNAMA has not received any request from any Afghan entity to make energy payments, which the report cites.” (ANI)

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Will improve India’s rating if growth potential increases and debt falls: Moody’s https://ctxetg.com/will-improve-indias-rating-if-growth-potential-increases-and-debt-falls-moodys/ https://ctxetg.com/will-improve-indias-rating-if-growth-potential-increases-and-debt-falls-moodys/#respond Wed, 06 Oct 2021 14:29:58 +0000 https://ctxetg.com/will-improve-indias-rating-if-growth-potential-increases-and-debt-falls-moodys/ Moody’s expects India’s real GDP to exceed 2019 levels in this fiscal year (April 2021 to March 2022). New Delhi: Moody’s Investors Service said on Wednesday it would raise India’s rating if growth potential rises and public debt falls steadily. The US-based rating agency on Tuesday raised the outlook for India’s sovereign rating to “stable” […]]]>

Moody’s expects India’s real GDP to exceed 2019 levels in this fiscal year (April 2021 to March 2022).

New Delhi: Moody’s Investors Service said on Wednesday it would raise India’s rating if growth potential rises and public debt falls steadily.

The US-based rating agency on Tuesday raised the outlook for India’s sovereign rating to “stable” from “negative”, while affirming the “Baa3” rating, which is the highest investment rating. lower, just a cut above junk status.

Also read: Moody’s Changes Outlook for Indian Banks and Businesses from Negative to Stable

Christian de Guzman, senior vice president of Moody’s Investors Service, Sovereign Risk Group, told PTI that the “stable” outlook reflects the view that it would take around 12 to 18 months for Moody’s to raise its sovereign rating. India.

“We said that an increase in India’s growth potential – which has eroded in recent years – and a sustained decline in the public debt burden as well as a simultaneous improvement in debt accessibility could lead to an upgrade. Our stable outlook reflects the view that these triggers will not be met in the next 12-18 months, “Guzman said in an email interview.

While affirming the sovereign rating, Moody’s had said that a recovery was underway in Asia’s third-largest economy, with downside risks to the growth of subsequent waves of coronavirus infection mitigated by rising rates of vaccination.

Moody’s expects India’s real GDP to surpass 2019 levels in this fiscal year (April 2021 to March 2022), rebounding to a growth rate of 9.3%, followed by 7.9% in the next fiscal year.

The Indian economy contracted 7.3% in the most recent fiscal year ended March 31, 2021.

The US-based rating company had downgraded India’s rating to “Baa2” in 2020, with a “negative” outlook indicating that there would be challenges in implementing policies amid a low environment. growth and deteriorating fiscal position.

(This story was not edited by NDTV staff and is auto-generated from a syndicated feed.)

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Democrats insist they won’t back down on debt ceiling https://ctxetg.com/democrats-insist-they-wont-back-down-on-debt-ceiling/ https://ctxetg.com/democrats-insist-they-wont-back-down-on-debt-ceiling/#respond Tue, 05 Oct 2021 23:13:12 +0000 https://ctxetg.com/democrats-insist-they-wont-back-down-on-debt-ceiling/ Senate Democrats insisted on Tuesday they would not back down to the Senate Minority Leader Mitch mcconnellAddison (Mitch) Mitchell McConnell On The Money – Presented By NRHC – Biden Plays Hard With The Debt Limit With McConnell Schumer Organizing Wednesday’s Vote To Suspend The Manchin Debt Ceiling Open To A Debt Increase By The reconciliation, […]]]>

Senate Democrats insisted on Tuesday they would not back down to the Senate Minority Leader Mitch mcconnellAddison (Mitch) Mitchell McConnell On The Money – Presented By NRHC – Biden Plays Hard With The Debt Limit With McConnell Schumer Organizing Wednesday’s Vote To Suspend The Manchin Debt Ceiling Open To A Debt Increase By The reconciliation, excludes systematic obstruction PLUS (R-Ky.) In a high-stakes standoff over federal debt limit.

Just days away from a possible default, believed to be the first in U.S. history, Democrats walked out of a strategic luncheon saying they would have no way of using the long process of budget reconciliation to raise the debt ceiling.

Strong opposition has come from lawmakers like Sen. Tim kaineTimothy (Tim) Michael Kaine FDA clears new rapid COVID-19 test, says capacity to double Senate Democrats reduce tension Manchin Congress set to avoid shutdown, but debt scuffle looms MORE (D-Va.) Who have made it clear that Democrats, with their control of the White House and Congress, cannot let the debt deadline expire.

“We’re not doing it on reconciliation… it’s too complicated,” Kaine said.

Other Democrats have said there is simply not enough time to embark on the path of budget reconciliation.

“It’s impossible to do that now,” Sen said. Sherrod BrownSherrod Campbell BrownSenate Confirms Chopra Will Head Consumer Financial Protection Bureau (D-Ohio), Chairman of the Senate Banking Committee. “There are too many pitfalls, it takes too long.”

Senator Elizabeth warrenElizabeth WarrenFed’s internal watchdog to review transactions by senior officials Christie: 2020 Joe Biden “is now officially dead and buried”, Senate Democrats reduce tension Manchin MORE (D-Mass.) Said Democrats were prepared to use “every tool they can,” but there was not enough time to raise the debt ceiling through reconciliation.

“There isn’t enough time. It won’t work without the cooperation of the Republicans, and they are not giving us any cooperation,” she said.

McConnell said for weeks that Republicans would not participate in raising or suspending the debt ceiling and that Democrats must use the budget reconciliation process to create a special legislative vehicle that would raise the debt ceiling with only Democratic votes.

But the majority leader in the Senate Charles SchumerChuck SchumerSchumer: Congress must raise debt ceiling by end of week Battle for Biden’s agenda: The story of two Democratic parties Arizona Democrats’ frustration with Sinema reaches its climax MORE (DN.Y.) says it could take two weeks – maybe even longer since a single senator could drag out the process – and would require two long votes-a-ramas, when senators can propose a unlimited number of amendments that require voice speaking.

“Reconciliation is a long, convoluted and risky process,” Schumer said Tuesday.

Entrenchment on both sides makes some in every caucus nervous as Treasury secretary Janet YellenJanet Louise Yellen On The Money – Presented By NRHC – Biden Plays Hard With The Debt Limit With McConnell Manchin Open To Increased Debt Through Reconciliation, Rules America’s Default Obstruction Won’t Trigger The market chaos – and that’s the problem MORE is stepping up calls to Congress to raise or suspend the debt limit by Oct. 18 to avert a financial catastrophe that could cripple the U.S. economy.

Some Democratic senators are discussing the possibility of creating a special filibuster exception that would allow the debt ceiling to be suspended with just 50 votes. That would require toppling the Senate parliamentarian and setting a new precedent – a controversial tactic known as the nuclear option.

President BidenJoe BidenUS & Israeli Security Officials Talk Iran & Palestinians In Washington Over Money – Presented By NRHC – Biden Plays Hard With Debt Limit With The Long, Winding Road Of Bill McConnell Highway MORE, asked if Democrats were considering a debt ceiling waiver, told reporters at the White House on Tuesday that it was a “real possibility.”

But the centrist Sens. Joe manchinJoe ManchinSchumer Hosts Vote Wednesday To Suspend Debt Ceiling Overnight Energy & Environment – California Lawmakers Clash Over Oil Spill Attacks On Sinema Get More Personal MORE (DW.Va.) and Kyrsten SinemaKyrsten Sinema Attacks on Sinema become increasingly personal Biden to hit the road on economic agenda pushes California Democrats to blow up offshore drilling in oil spill MORE (D-Arizona) have made it clear this year that they do not support ousting the Senate obstruction rule, which requires 60 votes for most laws.

McConnell argued on Tuesday that Democrats had known for months that Republicans would give them no help in expanding the country’s borrowing power, which officially expired in late July.

“I said in July, I said in August, I said in September, there is a clear path to reach the debt ceiling, which has to happen – America must never default – and do it with Democrats only, ”he said.

McConnell helped negotiate a deal with then-Vice President Biden and other Democratic leaders in 2011 to raise the debt limit during a similar stalemate, but says the current situation is different as Democrats control the White House and both Houses of Congress.

He told reporters on Tuesday that he had not spoken directly to Biden about the matter.

Republicans say they don’t want to make it easier for Democrats to raise the debt ceiling when they know the next major spending bill will be a $ 1.5 trillion to $ 3 social spending program. $ 500 billion they plan to spend without any GOP Votes.

“Reconciliation is the hard way and it should be done the hard way. We’re talking about the biggest government expansion, the biggest tax hike in American history. It should be difficult, not easy, ”said Senate Minority Whip. John ThuneJohn Randolph Thune Debt fight reignites Democrats’ obstruction against Congress on the verge of avoiding shutdown, but debt scuffle looms over Schumer’s debt showdown on Monday’s government funding bill over the debt ceiling PLUS (RS.D.).

Schumer has scheduled a vote on Wednesday that will need the support of 10 Senate Republicans to advance legislation to suspend the debt ceiling until December 2022.

He says if GOP senators vote to end the filibuster and allow the bill to pass a final ascending or descending vote, Democrats can pass the debt ceiling suspension themselves. He argues that a potential crisis can be avoided if McConnell simply allows 10 members of his caucus to vote with Democrats to overcome the procedural hurdle of 60 votes.

“Tomorrow’s vote is a chance for some Republican senators to show some independence from hardline members of their conference running for president,” Schumer told reporters after meeting with his caucus.

“All we need is 10 Republicans to vote with us, and then none of them have to vote to raise the debt ceiling,” he said, warning that one Potential credit degradation “hovers above us”.

“It’s not too late, but he’s getting dangerously close. There is still time – still time for Republicans to step aside and allow this bill to pass by a simple majority vote, ”he added.

He accused “extreme right-wing extremists” of wanting the nation to default in order to harm Biden.

Republicans say there won’t be 10 votes on their side to dispense with a filibuster on Wednesday, meaning the standoff will likely head into the weekend and possibly next week.

Schumer has indicated that he is ready to cancel the October recess, scheduled for October 11-15, to gain more time on the debt ceiling debate.

“We’re going to stay here until we’re done,” he announced after meeting with his caucus for lunch.

The lack of time has led many Democrats to warn that immediate action is needed.

Senator Mark WarnerMark Robert Warner Hillicon Valley – Brought to you by American Edge Project – Facebook experiences widespread outage Senators warn of Chinese tech threats ahead of international meeting Senators table bill giving organizations 24 hours to report payments for attacks ransomware PLUS (D-Va.), A member of the Senate Budget Committee, said resorting to reconciliation would put the government at risk of defaulting on its debt as there are less than two weeks left before the deadline.

“I don’t think it’s possible within a time frame that would not jeopardize the full confidence and credit of the United States.… We are currently in the danger zone,” he said.

Fitch reviews said friday that a default would likely cost the United States its AAA credit rating and raise serious questions about the country’s ability to anchor the global financial system.

If the Treasury Department is forced to prioritize debt payments with its remaining cash, this “would lead to non-payment or delayed payment of other obligations, which would likely undermine the” AAA “status of the United States. “the rating agency wrote.

Moody’s expressed greater confidence that the United States would avoid a default in a Tuesday research note, but rested that assumption on Democrats using budget reconciliation as a last resort. While Moody’s expected a potential default to be resolved quickly, it warned that the United States would no longer deserve an AAA rating if the Treasury were to prioritize payments.

Even so, financial markets have largely kept their cool amid escalating tensions on Capitol Hill, reflecting confidence on Wall Street that a crisis will be averted. As the stock market has been volatile throughout September after months of solid gains and bond yields have risen, financial experts say these slowdowns were largely due to concerns about the economic recovery from the pandemic. and inflation.

The Dow Jones Industrial Average, the Nasdaq composite and the S&P 500 all finished Tuesday with gains in almost every sector of the economy after steep losses on Monday.

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IMF Announces Downward Revision of Global Growth Forecast Due to Rising Risks | national https://ctxetg.com/imf-announces-downward-revision-of-global-growth-forecast-due-to-rising-risks-national/ https://ctxetg.com/imf-announces-downward-revision-of-global-growth-forecast-due-to-rising-risks-national/#respond Tue, 05 Oct 2021 13:02:46 +0000 https://ctxetg.com/imf-announces-downward-revision-of-global-growth-forecast-due-to-rising-risks-national/ WASHINGTON (AP) – The head of the International Monetary Fund said the agency was lowering its forecast for global growth this year. IMF Managing Director Kristalina Georgieva on Tuesday cited growing risks of inflation, debt and a divergence in growth prospects between countries with access to coronavirus vaccines and those in need of vaccines. In […]]]>

WASHINGTON (AP) – The head of the International Monetary Fund said the agency was lowering its forecast for global growth this year.

IMF Managing Director Kristalina Georgieva on Tuesday cited growing risks of inflation, debt and a divergence in growth prospects between countries with access to coronavirus vaccines and those in need of vaccines.

In remarks prepared for an academic hearing in Italy, Georgieva said the goal of next week’s annual meetings of the IMF of 190 countries and its sister lending agency, the World Bank, will be to address the growing risks in a way. coordinated to improve the outlook for the global economy.

She noted that the IMF’s World Economic Outlook in July predicted a strong global rebound of 6%, which would have been a dramatic rebound from a 3.2% contraction in the pandemic year of 2020.

But now, she said, IMF forecasters are a little less optimistic following the surge in cases of delta variants over the summer in many parts of the world and higher than inflation. forecast exacerbated by problems with global supply chains.

“The risks and obstacles to a balanced global recovery have become even more pronounced,” Georgieva said in a scheduled virtual appearance at Bocconi University in Milan. She said specific results of the lowered outlook would be released by the IMF next Tuesday.

She said there is a risk that higher than expected inflation will push central banks to raise interest rates and depress growth even further. Of particular concern is rising food prices, she said, with global prices rising 30% in the past year, while higher energy prices are also putting pressure on consumers. families.

“The United States and China remain key engines of growth even though their momentum is now slowing,” Georgieva said, adding that a few other advanced and emerging economies were also gaining momentum, pointing to Italy and ‘other European countries.

“In contrast, in many other countries growth continues to worsen, hampered by poor access to vaccines and limited policy responses,” she said.

She said it was still possible to meet the targets set by the IMF and other global institutions of immunizing at least 40% of the people in each country by the end of this year, and reaching 70%. by the first half of 2022.

Georgieva called on rich countries to keep their pledges of support and also close a $ 20 billion gap in funding for testing, tracing and treatment.

“If we don’t do this, large parts of the world will not be vaccinated and the human tragedy will continue,” she said. “It would delay the recovery. We would see global GDP losses reach $ 5.3 trillion over the next five years. “

To meet the challenge, Georgieva said the IMF provided $ 118 billion in new financing to 87 countries and approved a $ 650 billion increase in the agency’s special drawing rights, the largest in history.

These resources are intended to stimulate cash-strapped countries. About $ 275 billion of the allocation went to developing countries. She called on rich nations to channel more of these resources to poorer nations.

In addition to stepping up the fight against the coronavirus in poor countries, next week’s IMF and World Bank meetings will also discuss efforts to provide more support to tackle climate change.

However, Georgieva is also likely to face questions regarding a recent critical report from an external law firm that while she was a senior World Bank official, she and other Bank officials. global pressure on other World Bank employees to change the ranking of companies in China and other nations.

The results prompted the World Bank to cancel the annual report and sparked calls for Georgieva’s resignation. Critics have argued for some time that China exerts undue influence over the IMF, World Bank and other global financial institutions. Georgieva has denied any wrongdoing and said she looks forward to meeting with the IMF board to clear her name.

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Bulgaria to contract new debt of BGN 500 million https://ctxetg.com/bulgaria-to-contract-new-debt-of-bgn-500-million/ https://ctxetg.com/bulgaria-to-contract-new-debt-of-bgn-500-million/#respond Mon, 04 Oct 2021 18:12:00 +0000 https://ctxetg.com/bulgaria-to-contract-new-debt-of-bgn-500-million/ The Ministry of Finance and the National Bank of Bulgaria have announced the date of a new auction, in which the country will offer 5-year government securities for a total value of BGN 500 million . This was officially announced today by the central bank of Bulgaria. The amount of the issue is a record […]]]>

The Ministry of Finance and the National Bank of Bulgaria have announced the date of a new auction, in which the country will offer 5-year government securities for a total value of BGN 500 million . This was officially announced today by the central bank of Bulgaria. The amount of the issue is a record for the Bulgarian domestic market.

Experts have determined October 11 for debt collection, and according to the BNB’s announcement, they want zero interest on the securities. This will not be a precedent, and only a month ago a new issue of 5-year securities was reopened, which was sold at a negative yield of 0.15%. In practice, this means that investors pay the state to be able to borrow money. The same return with negative values ​​should now be achieved.

So far, the country has withdrawn BGN 1.3 billion this year, and if this auction is successful, the amount will increase to BGN 1.8 billion. No particular surprises are expected from creditors – banks, pension funds, insurance companies.

The debt ceiling for this year has been set at BGN 4.7 billion, which will finance the treasury deficit. However, it is unlikely that all of that money will be taken out, given that the budget is in the red for the third month.

/ ClubZ

Copyright (c) Novinite.com. Published with permission of the Big News Network News Agency

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Durbin says GOP is playing with ‘loaded gun’ on US debt limit | national https://ctxetg.com/durbin-says-gop-is-playing-with-loaded-gun-on-us-debt-limit-national/ https://ctxetg.com/durbin-says-gop-is-playing-with-loaded-gun-on-us-debt-limit-national/#respond Sun, 03 Oct 2021 17:55:00 +0000 https://ctxetg.com/durbin-says-gop-is-playing-with-loaded-gun-on-us-debt-limit-national/ WASHINGTON – Senate Majority Whip Dick Durbin has accused Republican Leader Mitch McConnell of “playing games with a loaded gun” by threatening to obstruct a suspension of the U.S. debt ceiling, saying Democrats are ready to adopt the measure themselves. “We’re going to get there,” Durbin, an Illinois Democrat, said Sunday on CNN’s “State of […]]]>

WASHINGTON – Senate Majority Whip Dick Durbin has accused Republican Leader Mitch McConnell of “playing games with a loaded gun” by threatening to obstruct a suspension of the U.S. debt ceiling, saying Democrats are ready to adopt the measure themselves.

“We’re going to get there,” Durbin, an Illinois Democrat, said Sunday on CNN’s “State of the Union.” “And we’ll do it responsibly and deal with it when we get back next week.”

Treasury Secretary Janet Yellen said U.S. government liquidity would run out around October 18, underscoring the market risk associated with the political deadlock in Washington. President Joe Biden said on Saturday it would be “unreasonable” if Republicans blocked a debt limit vote in the equally divided Senate.

Legislation passed by the United States House would suspend the federal debt limit until December 2022.

With Senate Majority Leader Chuck Schumer calling on Republicans to let Democrats erase the measure with just 51 votes, McConnell is expected to step aside, Durbin said. The senatorial minority leader “is wrong” if he thinks he will score political points with his position, he said.

“Let’s do it by a majority vote, by a Democratic vote,” Durbin said. “We will accept this responsibility. “

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Violent crime rises among Arabs in Israel as authorities admit negligence https://ctxetg.com/violent-crime-rises-among-arabs-in-israel-as-authorities-admit-negligence/ https://ctxetg.com/violent-crime-rises-among-arabs-in-israel-as-authorities-admit-negligence/#respond Sat, 02 Oct 2021 14:37:32 +0000 https://ctxetg.com/violent-crime-rises-among-arabs-in-israel-as-authorities-admit-negligence/ TAIBEH, Israel – After a day of construction work, Alaa Sarsour, 25, showered, dressed and walked the short distance to the henna party before her friend’s wedding in an alleyway cobblestone adorned with ribbons in the old heart of Taibeh, an Arab city in central Israel. Suddenly, in the midst of the celebration, a flurry […]]]>

TAIBEH, Israel – After a day of construction work, Alaa Sarsour, 25, showered, dressed and walked the short distance to the henna party before her friend’s wedding in an alleyway cobblestone adorned with ribbons in the old heart of Taibeh, an Arab city in central Israel.

Suddenly, in the midst of the celebration, a flurry of wild bullets ripped through the cool night air, hitting Mr. Sarsour and five other guests. Mr Sarsour died on his brother’s lap, said relatives, apparently the victim of a latent feud between the shooter – a friend of the groom who had attended the party moments earlier – and a family member of Mr. Sarsour.

The last week’s shooting was just one of at least 16 killings in Arab communities in Israel last month, and one of nearly 100 so far this year.

Murders – not by Israeli soldiers but by Arab criminals – account for about 70 percent of all Israeli homicides, although Arabs make up just over 20 percent of the population. The outbreak of violence has shocked the country and highlighted what the government admits to have been decades of neglect of crime in Arab communities.

Prime Minister Naftali Bennett has called the violence a “national scourge” and will lead a new ministerial task force to tackle the problem which is due to meet on Sunday.

Omer Bar-Lev, who as Israel’s Minister of Public Security oversees the country’s police force, denounced what he said was “the prevailing assumption that as long as they kill each other, it is their problem ”.

The surge in killings gave rise to an “Arab Lives Matter” campaign. But unlike the Black Lives Matter movement in the United States, Arab leaders are imploring police action.

“Can’t the Israeli police really defeat a group of criminal gangs? Ayman Odeh, the leader of an Arab alliance in the Israeli parliament, asked during a protest last week. “Of course he does, but to put it simply, he treats us like his backyard.”

The number of homicides within the Arab community has skyrocketed in recent years, from 58 in 2013, according to police, to around 97 in 2020, and at least 98 so far this year. An Arab citizen of Israel is much more likely to be killed by another Arab than by the Israeli police, and more Arabs have been killed by Arabs in Israel so far this year than by Israeli security forces during clashes in the occupied West Bank, which receive much more attention.

Less than a quarter of the cases have been resolved, a symptom, critics say, of both police indifference and Arab mistrust of the police.

Of more than 3,300 shootings in Arab communities in 2019, only five percent resulted in indictments, which police say is the result of difficulty in gathering evidence and locating suspects and witnesses.

In a passionate Twitter thread the day after the wedding shooting in Taibeh, Public Security Minister Bar-Lev blamed decades of government neglect on the problems of Arab communities and said tackling crime was the central mission there of his ministry and the police.

Arab leaders, experts and government officials attribute the outbreak of internal violence primarily to the rise of well-armed Arab criminal organizations involved in usurious lending and protection racketeering, brutally enforced by ranks of unemployed and aimless youth eager to become infantry for easy money.

But personal grudges, small land disputes between neighbors or even small affronts between schoolchildren add to the numbers, sometimes degenerating into murderous clan vendettas. Guns have also been turned on women in cases of domestic violence and so-called “honor killings”.

Disputes easily become fatal because Arab communities are inundated with illegal weapons.

Estimates of illegal firearms in Arab communities range from tens of thousands to hundreds of thousands, although Israel’s Arab population numbers less than two million. “No one really knows how to quantify it,” explains Tomer Lotan, the director general of the Ministry of Public Security.

Arab politicians and activists staged mass protests calling for government intervention. The mothers of the victims marched from the northern city of Haifa to Jerusalem last year and in recent weeks have staged protests near Mr. Bar-Lev’s home.

“Every day they make promises and plans, including him,” said Watfa Jabali, 52, a trader and activist from Taibeh who lost a son to gun violence. “And we hear on the news about another murder and another and another.”

As the numbers have grown, the killings have become more and more brazen.

A month ago, 18-year-old Anas al-Wahwah, an outstanding student and young volunteer with the Israeli ambulance service, was shot dead at close range at noon while waiting for his mother in a car in central Lod, a mixed Judeo-Arab city. in central Israel.

Some are skeptical of the authorities’ intentions, believing that they have deliberately allowed violence to break out in order to weaken the Arab minority in Israel, which largely identifies as Palestinian.

“This is all part of the Israeli-Palestinian conflict,” said Jamal Fattum, 47, a lawyer and social activist from the Arab town of Nahef, in northern Israel. “We are part of the Palestinian people, who have national aspirations. “

Mr Fattum, who has helped organize protests against government violence and inaction, has at least 10 security cameras monitoring his upscale residence. But one night in April, her family woke up shooting at the house and a boom as their car caught fire. A bullet pierced the thick wooden front door and lodged high in the wall of his dining room.

Mr Fattum said he had no idea who the masked attackers were or what they might have wanted other than to silence him. Police investigated but made no arrests.

But in many cases, victims refuse to cooperate.

Whether it’s out of mistrust of the police, fear of revenge, or both, according to officials and experts, witnesses and relatives of victims often stick to a code of silence. Some crime scenes are cleaned up before the police arrive.

In the case of the wedding, a suspect was quickly apprehended. But once the case was brought to court, the groom’s father, Nasser Barabra, said there would be no witnesses even if the shooter was unmasked.

“We didn’t see anything,” said Barabra, a house painter. Speaking at his home a day after the family switched from Mr Sarsour’s funeral to what they said was a joyless wedding ceremony, he added: “Some people are walking around with guns and others with fear. “

Relatives of the victim, in mourning in a nearby house, said they did not know the identity of the shooter, who was a neighbor. They were scared, they said, and wanted no more problems.

Successive Israeli governments have made promises and proposed plans of action. A commission comprising the heads of several ministries and representatives of Arab local councils studied the problem in 2020 and determined that the informal financial industry that is the source of so much violence arose out of the fact that Arabs traditionally depend on a economy based on cash and often do not have access to regular banking services. .

Lack of building permits and space for new housing in cramped Arab towns and villages has led to violent land disputes and prevents obtaining mortgages or loans from banks, making society Arab vulnerable to loan sharks, extortion and ruthless debt collectors.

The illegal weapons that flood Arab towns are often stolen from the military or smuggled across the border from Jordan, according to the state comptroller, the government’s watchdog. Improvised weapons are manufactured in the West Bank and airsoft pellet guns that can be ordered from Amazon have been adapted to fire real bullets, according to the controller’s reports.

The military said it was working with police and security groups to reduce gun theft from its bases and improved surveillance measures. It has reported 80 cases of stolen weapons in 2020 and 21 cases so far this year.

The explosion of inter-communal violence that rocked Israel last May has also served as a catalyst for more urgent action by the authorities, raising fears that the guns have been turned on the Jewish public.

Mr Lotan, from the Ministry of Public Security, said the government had a detailed plan ready to be implemented once the state budget is adopted in November. He calls for the recruitment of 1,100 additional police officers, legislative changes to fight economic crime more effectively, greater use of technology and an improved witness protection program, all measures to improve access and trust in Arab communities.

Mr Bennett has offered to enlist the Shin Bet, Israel’s internal security agency, in the campaign, although this has become a point of contention with many opposing the use of counterterrorism means against civilians.

“You need a firm hand against organizations and guns,” Lotan said, “and at the same time, you need to keep working on the big social issues”, what he called “the huge inequality in all spheres “.

Clearly, more police officers alone is not the solution. In the nearby town of Tamra, when the police took action, it ended in tragedy.

One night in February, masked gunmen shot at a house in a densely populated residential area, telling the owner they would be back two days later to collect money, according to the town’s mayor, the Dr Suheil Diab. On their return, one of them armed with an M16 assault rifle, a police SWAT team awaited them in ambush.

The bullets began to fly. Across the street, Ahmad Hijazi, a nursing student who was visiting a friend, ran out when he heard calls for help and was shot dead. The friend’s brother, Muhammad Armoush, a doctor, followed him and was shot in the foot.

One of the gunmen was killed, another was seriously injured and arrested. A third escaped.

Dr Armoush said he saw police target himself and Mr Hijazi, apparently finding them suspect. Police investigators have yet to determine whether it was their bullets or those of the criminals that hit Dr Armoush and Mr Hijazi.

Sitting on his porch at dusk a recent evening, above the street where the shooting took place, Dr Armoush was emotional and exasperated.

“After what happened to us, I expected a change,” he said. “So yesterday someone went to a wedding …”

Rawan Sheikh Ahmad contributed reporting.

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S&P revises Oman’s outlook to positive on rising oil prices and reforms https://ctxetg.com/sp-revises-omans-outlook-to-positive-on-rising-oil-prices-and-reforms/ https://ctxetg.com/sp-revises-omans-outlook-to-positive-on-rising-oil-prices-and-reforms/#respond Sat, 02 Oct 2021 09:12:00 +0000 https://ctxetg.com/sp-revises-omans-outlook-to-positive-on-rising-oil-prices-and-reforms/ General view of Old Muscat the day after the burial of Sultan of Oman Qaboos bin Said in Muscat, Oman, January 12, 2020. REUTERS / Christopher Pike / File Photo DUBAI, Oct. 2 (Reuters) – S&P Global Ratings said on Saturday it had revised its outlook for Oman from stable to positive amid rising oil […]]]>

General view of Old Muscat the day after the burial of Sultan of Oman Qaboos bin Said in Muscat, Oman, January 12, 2020. REUTERS / Christopher Pike / File Photo

DUBAI, Oct. 2 (Reuters) – S&P Global Ratings said on Saturday it had revised its outlook for Oman from stable to positive amid rising oil prices and budget reform plans that are expected to cut government deficits and slow rising debt levels over the next three years.

The rating agency confirmed Oman’s long and short-term sovereign credit ratings in foreign and local currencies.

Oman, a relatively small oil producer, is more sensitive than its hydrocarbon-rich neighbors in the Gulf to fluctuations in oil prices, meaning it has been particularly affected by the 2020 price drop and the COVID-pandemic. 19.

“Economic and fiscal pressures on Oman are easing, as the effects of the sharp drop in oil prices in 2020 and the COVID-19 pandemic ease,” S&P said in a statement.

He expects the budget deficit to decline to 4.2% of gross domestic product this year, from 15.3% of GDP in 2020.

But lower oil prices from 2023 would lead to a deterioration in the fiscal path despite planned reforms, he said, adding that total financing needs – budget deficit plus maturing debt – would remain high, around on average 12% of GDP until 2024.

Oman’s debt as a percentage of GDP reached nearly 80% last year, after rising just over 5% in 2015. The International Monetary Fund estimated last month that total public debt is set to fall at 70% this year.

The sultanate took steps last year to put its finances in order, including the introduction of a value-added tax and the decision to work with the IMF to develop a debt strategy.

Reporting by Ghaida Ghantous; Editing by Alexander Smith

Our Standards: The Thomson Reuters Trust Principles.

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US STOCKS-Wall Street gathers on the first day of October, boosted by economic joy https://ctxetg.com/us-stocks-wall-street-gathers-on-the-first-day-of-october-boosted-by-economic-joy/ https://ctxetg.com/us-stocks-wall-street-gathers-on-the-first-day-of-october-boosted-by-economic-joy/#respond Fri, 01 Oct 2021 20:03:00 +0000 https://ctxetg.com/us-stocks-wall-street-gathers-on-the-first-day-of-october-boosted-by-economic-joy/ (For a live Reuters blog on the US, UK and EU stock markets, click LIVE / or type LIVE / in a news window.) (Updates until market close) Oct. 1 (Reuters) – Wall Street shares surged to a higher close on Friday, kicking off the fourth quarter in a buying mood boosted by positive economic […]]]>

(For a live Reuters blog on the US, UK and EU stock markets, click LIVE / or type LIVE / in a news window.) (Updates until market close)

Oct. 1 (Reuters) – Wall Street shares surged to a higher close on Friday, kicking off the fourth quarter in a buying mood boosted by positive economic data, progress in the battle against COVID and Washington’s developments on the potential adoption of a bill on infrastructure.

The three major US equity indices hovered earlier in the session, but started to rise in the late afternoon, led by cyclical economy-sensitive stocks.

The rally gathered momentum after the White House announced that US President Joe Biden was getting more involved in negotiations on the infrastructure spending bill being debated on Capitol Hill.

Despite this, all three indices finished below last Friday’s close, with the S&P 500 and Nasdaq Composite recording their biggest weekly percentage declines since February.

“There was a general recovery today. The markets weren’t fixated on the new taxes or the phase-out today, ”said David Carter, chief investment officer at Lenox Wealth Advisors in New York.

“Compared to the past few weeks, there has been no big news from Washington, so markets have been forced to focus on positive economic data and a new COVID drug.”

Merck & Co Inc has revealed that a recent study showed that its investigational oral drug for COVID-19 reduced the risk of death and hospitalization by about 50%, boosting its shares and bolstering feelings of economic reopening.

While Biden enacted an interim bill to keep the government running until Dec. 3, lawmakers have only succeeded in kicking the box.

This lack of resolution prompted the Fitch rating agency to warn that the United States’ “AAA” credit rating could be at risk.

“The markets don’t think the debt will be downgraded or that a debt ceiling deal will not be reached, but it adds further uncertainty which is always a problem for the markets,” added Carter.

A slew of economic data released on Friday showed increased consumer spending, accelerating factory activity and high inflation growth, which could help the US Federal Reserve shorten its schedule to tighten its policy. accommodative monetary policy.

Philadelphia Fed Chairman Patrick Harker reiterated his point of view expressed on Wednesday in a speech that he believed the central bank should start cutting asset purchases “soon,” but reiterated that he would not. did not expect it to raise its key interest rates before the end of next year or early 2023..

Unofficially, the Dow Jones Industrial Average rose 488.73 points, or 1.44%, to 34,332.65, the S&P 500 gained 49.88 points, or 1.16%, to 4,357.42 and the Nasdaq Composite added 108.76 points, or 0.75%, to 14,557.34.

All 11 major sectors of the S&P 500 ended higher, with health care stocks trailing behind.

Industry gains were capped by a drop in shares of COVID vaccine maker Moderna Inc following Merck’s announcement.

Economic optimism prompted value stocks to outperform growth, and transportation and small caps to fare better than the broader market. (Reporting by Stephen Culp; Editing by Richard Chang)

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