June 11th, 2014, 10:45 am
Wednesday Morning News Summaries
Central Bank warns citizens to deal with the Basra International Bank for Investment
Pay heed people of Basra, the CBI is warning you against continued use of the Basra International Bank for Investment, they no longer are conducting any banking practices.....here is another bank that was placed under guardianship by the CBI in June 2012, but they have apparently not fared so well since then.
As many as half a million people have been forced to flee the Iraqi city of Mosul amid reports that al-Qaeda militants move into oil refinery town of Baiji
With Sunni insurgent terrorists taking over Mosul, as many as 500,000 people have fled the second largest city of Iraq....there are also reports that the terrorists have moved into nearby Baiji, a smaller town with an oil refinery....the refinery is protected by 250 guards, but they may be leaving if given safe passage by the terrorists.....
there apparently are plans in the works to recapture Mosul....the governor of Ninevah accused senior commanders of feeling false information to Baghdad and is demanding they stand trial.....meanwhile, the US has denounced the insurgents and is urging all political groups to join together to retake the city, stating this is a very serious situation.....
so it would seem that everyone including Washington has underestimated the threat that the Islamic State of Iraq and Levant (ISIL).....the US should have insisted on leaving a presence of troops in Iraq, much as was done in Germany, Korea, and Bosnia....instead of being bull-headed about a political agenda of pulling all troops out of the country, so that the military has deteriorated to the point of stability within the country being at issue now.
Uniting for Reform: We will attend the parliament session for tomorrow and declare a state of emergency Andam
A spokesperson from the United bloc says their MP's will attend the Parliament session tomorrow to declare a State of Emergency....from this it will be interesting to learn how Maliki plans on taking the city back within 24 hours....these people are not just some rag-tag outlaws....they are well organized and bent on declaring a new state with their vision in place, a total destruction of Iraq.
Commission: the judiciary resolved appeals winners will be sent on Thursday to the Federal Court
The Electoral Commission has announced that it will be sending a list of election winners to the Federal Court on Thursday, as all appeals will have been resolved at that point....the Federal Court will then approve the final results.
Zebari: Baghdad and Erbil agreed to restore Mosul
Iraqi Foreign Minister Zebari stated that both Baghdad military forces working in conjunction with Kurd Peshmerga forces will work towards restoring peace to Mosul and ousting the terrorist group that has taken over the city....meanwhile the Peshmerga forces have already regained control of the largest military base on the west side of Mosul....hundreds of Iraqi forces returned to the headquarters to start reorganization efforts.
Arbil Stock Exchange to join the membership of Arab Stock Exchanges
It was announced that the Arbil Stock Exchange has joined the Arab Stock Exchanges....Arbil Stock Exchange is still on schedule to open sometime in August 2014.....the stability of the Kurdistan region has played a prominent role in bringing investors to the area in sectors such as oil and gas, other energy sources, reconstruction efforts as well as many other worthwhile projects.
KRG will not send oil revenue to Baghdad
A deputy within the Kurd Finance Ministry is saying that no oil revenue will be sent to Baghdad......his reasoning is that Baghdad cut the Kurd budget therefore there is no reason to send any of the revenues to Baghdad.....further a deputy with the Kurd Natural Resources Committee claims that due to a law that was passed in 2013....any disputes between Baghdad and Erbil lasting longer than 90 days would leave the KRG free to any method to obtain its financial rights.....The Turkish Energy Minister has been quoted saying that the Kurds exported just over 1 million barrels of oil at a price per barrel of $110 for a total revenue of $115 million dollars which will soon be deposited in the Halk Bank in Turkey.
White House calls on Iraq government to 'step up to the plate' over Mosul
The White House and State Department are now telling Maliki to step up to the plate and do more in addressing political concerns across Iraq.....the US says it is deeply concerned.....but they only offer ammunition, and other equipment designed to fight a war.....and then say.....take care of political issues....they are sending mixed signals....these insurgents are not Iraqi citizens....they are for the most part terrorists of the group Islamic State of Iraq and Syria....a splinter group of al-Qaeda.....they only know violence as their tool to do things....the US administration seems to be incapable of recognizing a truly grave situation that exists in a country they still want to be buddy buddy with, but not offer any real substantial support to....when it comes to effectiveness of the Iraqi troops the administration shies away from any comment....they just don't want to get involved....sad situation.
Oil Ministry: the chances of reaching an agreement with the Kurdistan increased and export facilities in the south secured
The Iraqi Oil Minister Karim stated that the main facilities to the south, in Basra remain fully functional at this time despite the take over of the largest oil refinery in Iraq near the city of Mosul. He claims that Iraq is still capable of flowing 2.6 million barrels of oil per day through the South.....he believes the chances of reaching an agreement with the Kurds has increased due to the situation in Mosul.....the Iraqi exports that he talks about being curtailed in recent months are related to the Iraqi pipeline from Kirkuk to Turkey....this is an old outdated line....it is not the same as what the Kurds constructed last year that they have been utilizing to pump oil to Ceyhan, Turkey.
Finally, al-Maliki agrees to enter the Peshmerga for the Liberation of Mosul against the export of oil province!!
Maliki is now granting permission for the Kurd Peshmerga to enter into the fray to liberate Mosul of the ISIS insurgents that took over the city and other areas....and reports indicate they are already kicking butt.
Expert calls to provide support to domestic banks
Banking expert in Iraq has questioned officials at the US Embassy how the US banks managed to stay afloat during the 2008 debacle that not only affected them but the world as a whole.....I'm not sure that is the best place to seek your answers....but the individual seems to be looking for better answers than just receivership that the CBI offers when a banks performance goes sour, jeopardizing the investments of its customers.....a worthy desire to improve.....there are many complicated controls in place in the US that have been developed over a long period of time with the aim at keeping the bank honest and above-board in its transactions and to guarantee the deposits of its customers....this is where Iraq needs to focus efforts if they intend to improve trust with their citizens in all of their banking entities.
The judiciary to resolve the election to end all appeals House of Representatives election
The Electoral Commission has worked its way through almost 900 election appeals and is ready to submit the names of the winners on Thursday to the Federal Judiciary for final approval.....may I have the envelope please.....and hold your applause until the last name is presented.
Urgent .. Urgent .. reference Najaf receives delegation Hakim!
The National Coalition met with a representative of the Liberal bloc and discussed the situation in Mosul along with some speculation about the origin of the fighting.....allegedly someone within the meeting leaked information to the news agency....that the efforts in Mosul may have been contrived....in order to put Iraq into a State of Emergency....giving Maliki and his government extended powers over a long period of time, regardless of the outcome of the election.....
they compare this instance to what was attempted in Anbar earlier in the year where M tried at that to invoke a State of Emergency.....all I will say about this....consider the source.....these are political enemies of Maliki.....who appear to be bent on denying him the State of Emergency to take care of the issues that are very real and do exist in Mosul at this point.
We have already seen evidence of the Peshmerga pushing the ISIS out of one military base and working on restoring order there.....
lets see what the news brings and what tomorrow's session in Parliament brings as well.
Going to take a break here and see what else is forthcoming to us later today