"The Dinar Daily ", Thursday, 26 February 2015
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    "The Dinar Daily ", Thursday, 26 February 2015

    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:

    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.

    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:

    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.

    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.

    The Republic of Iraq – Ministry of Planning


    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…

    2) the Gold Article…

    3) the IIER report…

    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.

    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.

    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.

    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…

    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??

    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the
    CBI.iq website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.

    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”

    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??

    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________


    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.

    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________


    Coins put on the market !!

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century



    CBI is preparing to issue a monetary metal parts

    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.



    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.


    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters

    KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.

    Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

    "We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

    Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

    When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

    Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.

    Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

    The new Kuwaiti money will be exchanged for old at a one-to-one rate.


    BGG ~ Thanks to wmawhite for some facts on the subject.

    Hi BGG,

    Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.

    You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

    When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

    Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

    Anyway thanks for the site and enjoy listening to your calls.

    Kind Regards,

  2. #2

    Re: "The Dinar Daily ", Thursday, 26 February 2015

    Central Bank of Iraq News

    Indicative rates - 26.02.2015

    US dollar USD 1166.000 1164.000
    Euro EUR 1322.944 1322.282
    British pound GBP 1807.067 1806.163
    Canadian dollar CAD 938.884 938.415
    Swiss franc CHF 1227.885 1227.271
    Swedish krona SEK 138.944 138.874
    Norwegian krone NOK 153.252 153.175
    Danish krone DKK 177.220 177.131
    Japanese yen JPY 9.815 9.810
    Drawing Rights SDR 1648.339 1647.515
    Last edited by chattels; 02-26-2015 at 11:51 AM.

  3. #3

    Re: "The Dinar Daily ", Thursday, 26 February 2015

    Reserved for Budget

  4. #4

    Re: "The Dinar Daily ", Thursday, 26 February 2015


    Kurds Are Close to Retaking Mosul from ISIS
    President Obama and Congress hammer out a war authorization against ISIS ( * HEREINBELOW ) , the Iraqi Kurdish forces peshmerga are now surrounding the northern city of Mosul -- 280 miles to the north of Baghdad -- Kurdish officials said on Tuesday.

    Mosul is Iraq’s second largest city and the largest city controlled by ISIS, making it its Iraqi capital. Since the fall of the city in June 2014, ISIS has dominated the jihadi movements globally and attracted tens of thousands of extremists from around the world to join its ranks.

    Yet, ISIS has lost its momentum in Iraq after the US led international air campaign started in August 2014. Even though ISIS has suffered a series of defeats throughout Iraq since last October, it still controls big cities like Mosul, Tikrit and Fallujah.
    Liberating Mosul is crucial in defeating ISIS in Ira.“

    Peshmerga forces have advanced in the last few months to Mosul from the north, east and west. Our operations have cut ISIS maneuvers in these areas. We are now close to the city center and in some areas we are only 6 to 9 miles away from it. We have also controlled the main bridges in the areas of Aski and al-Kesk which are located on the main way between Mosul and Tal Afar”, said Lieutenant General Jamal Mohammed, the chief of staff of the peshmerga forces.

    Related: 9 ISIS Weapons That Will Shock You
    The peshmerga now control the areas of Nineveh plains to the north of Mosul, the towns of al-Koweir and Makhmur to the east of the city and the towns of Aski and al-Kesk to the west of the city. However, to the south of the city, the Iraqi government forces, the Shiite militias and the Sunni tribes are still struggling to control Salahuddin province to complete the siege of Mosul.

    “We have reached the last available position in Aski and al-Kesk. Any further movement will be toward Mosul city center. We are waiting for orders in this regard. ISIS positions in Mosul have become within our artillery and rockets reach. We are constantly targeting them,” said Colonel Kamiran Hurami, a commander in the elite Zirvani forces within the peshmerga.

    The Iraqi government forces and its Shiite and Sunni allies have just finished another campaign to clear the city of Beiji, 130 miles to the north of Baghdad, leaving 500 Sunni tribal fighters to guard the city. The Iraqi forces still need to capture two more important towns in their way to Mosul, al-Sherqat and al-Qayara.

    These developments came two days after the announcement from General John Allen that the US led alliance is close to launching a major ground offensive in Iraq that would include 12 Iraqi brigades, supported and equipped by the United States.

    In the meantime. Mosul has witnessed over the last several days the heaviest air bombing since the start of the campaign in August. “I arrived after dropping the 16th bomb, thinking that the bombardment had stopped already, but as soon as I arrived, I was startled by dropping four more bombs,” said Maouris Milton, a blogger from Mosul.



    ​Strategic areas near Mosul retaken by Kurdish forces

    WASHINGTON DC - Backed by coalition air power, Kurdish forces have taken control over three strategic areas near Mosul and are ready to control more territories, the US military said in a statement.

    “Security Forces from the Kurdish region seized three bridgeheads on the west bank of the Tigris River, north of Mosul in formerly held Daesh (ISIS) areas,” the statement said. “Combined Joint Task Force-Operation Inherent Resolve (CJTF-OIR) delivered precise and effective airstrikes on enemy positions near Mosul, in support of the Iraqi Government’s fight against ISIL,” it added, referring to the Islamic State group that is known as ISIS or ISIL.

    With coalition air support, Kurdish Peshmerga forces have been able to reverse territorial gains by ISIS in Nineveh province since last November. US military officials have hailed the bravery of the Kurdish troops in the fight against ISIS, calling them the most effective and reliable partner on the ground.

    According to the statement, “the Coalition executed four close air support airstrikes to facilitate the maneuver of the Kurdish Security Forces and their successful attack.”

    The Pentagon said that training and providing “operational intelligence” will also continue to further empower the Kurdish forces to conduct military operations against ISIS successfully.

    It also showed confidence in the capability of the Kurdish forces, saying that “Kurdish Peshmerga Forces now hold the gains they have made and are postured to retake additional territory from Daesh (ISIS) in the vicinity of Mosul.”

    Lt. Gen. James Terry, the CJTF-OIR commander, explained that the coordination with the Kurdish forces has proved to be effective in countering and defeating ISIS.

    “This most recent Peshmerga operation is yet another example of how Daesh can be defeated militarily using a combination of well led and capable ground forces enabled by Coalition Aviation and Advise and Assist capabilities,” he said.Kurds Are Close to Retaking Mosul from ISIS



    Iraq and Syria Operations Against ISIL Designated as Operation Inherent Resolve

    TAMPA, Fla., Oct. 15, 2014 - U.S. Central Command officials announced today that Operation INHERENT RESOLVE has been officially designated as the name given to U.S. military operations against ISIL in Iraq and Syria. The operation name applies retroactively to all U.S. military actions conducted against ISIL in Iraq and Syria since airstrikes against ISIL began Aug. 8 in Iraq.

    According to CENTCOM officials, the name INHERENT RESOLVE is intended to reflect the unwavering resolve and deep commitment of the U.S. and partner nations in the region and around the globe to eliminate the terrorist group ISIL and the threat they pose to Iraq, the region and the wider international community. It also symbolizes the willingness and dedication of coalition members to work closely with our friends in the region and apply all available dimensions of national power necessary - diplomatic, informational, military, economic - to degrade and ultimately destroy ISIL


    Obama sends Congress request for military force against ISIS

    WASHINGTONBy Associated Press: President Barack Obama asked Congress on Wednesday to formally authorize military force against Islamic State militants, declaring they are on the defensive and "going to lose." But he vowed not to repeat the large and costly ground wars in Iraq and Afghanistan.

    Obama said a large deployment of U.S. troops won't be necessary to fight the Islamic State, and he argued that the three-page proposal he sent to lawmakers would give him and his successor the needed flexibility to wage a battle likely to take "some time."

    "I'm convinced that the United States should not get dragged back into another prolonged ground war in the Middle East," the president said, flanked by his vice president and secretaries of State and Defense at the White House. "I do not believe America's interests are served by endless war or by remaining on a perpetual war footing."

    The initial reaction to his congressional request was bipartisan skepticism. Republicans expressed unhappiness that Obama chose to exclude any long-term commitment of ground forces, while some Democrats voiced dismay that he had opened the door to deployment at all.

    Under Obama's proposal, the use of military force would be authorized for three years, unbounded by national borders. The fight could be extended to any "closely related successor entity" to the Islamic State organization that has overrun parts of Iraq and Syria, imposed a stern form of Sharia law and killed several hostages it has taken, Americans among them.

    "Make no mistake. This is a difficult mission," Obama said, adding it will take time to dislodge the terrorists, especially from urban areas. "But our coalition is on the offensive. ISIL is on the defensive, and ISIL is going to lose."

    The 2002 congressional authorization that preceded the American-led invasion of Iraq would be repealed under the White House proposal, a step some Republicans were unhappy to see. But a separate authorization that was approved by Congress after the Sept. 11, 2001, terror attacks would remain in force, to the consternation of some Democrats.

    At the heart of the debate, the struggle to define any role for American ground forces is likely to determine the outcome of the administration's request for legislation. White House spokesman John Earnest said the proposal was intentionally ambiguous on that point to give the president flexibility, but the approach also was an attempt to bridge a deep divide in Congress.

    While asking lawmakers to bar long-term, large-scale ground combat operations like those in Afghanistan and Iraq, Obama said he wants the flexibility for ground combat operations "in other more limited circumstances." Those include rescue missions, intelligence collection and the use of special operations forces in possible military action against Islamic State leaders. "It is not the authorization of another ground war," Obama said.

    "This resolution will give our armed forces the continuity we need for the next three years," he said. "It is not a timetable. It is not announcing that the mission is completed at any given period. What it is saying is that Congress should revisit the issue at the beginning of the next president's term.

    Whatever the outcome, Obama's request puts Congress on the path toward a vote that could reverberate unpredictably for years.

    A post-Sept. 11 request from then-President George W. Bush for authorization to use military force against Iraq was intensely controversial, and it played a role in Obama's successful campaign for the White House in 2008.



    Chief Of Staff of Peshmerga: Our Forces Spread In Three Directions Around Mosul
    12/02/2015 17:04

    Mosul / NINA / Chief of Staff of the Peshmerga forces said that his troops deployed around the city of Mosul and tightened its grip on three sides in preparation for the battle of liberating it from the grip of the Daash organization.

    Lt. Gen. Jamal Mohammed said to the reporter of the National Iraqi News Agency / NINA / The Kurdish forces are very close to the city of Mosul after the liberation of all the eastern, northern and western directions leading to it and control the main bridges in Aski and Kazak regions.

    He expressed confidence that Daash organization is unable to progress and suffers from the difficulty of movement in those areas, saying Kurdish forces are waiting for the zero hour to rush toward Mosul and fight the battle of liberation against terrorist groups.


    and other action

    Peshmerga thwart ISIS attack near Bashik

    An early morning ISIS suicide attack on Peshmerga positions near Bashik town left eight militants dead including the bomber.

    A Rudaw reporter on the scene confirmed no Peshmerga soldiers were killed the attack.

    "ISIS militants launched a massive assault near the Peshmerga fronts in the area, but we defeated the attack,"
    said Saad Mamuzini, media officer of the PDK 14th branch.

    Mamuzini said the battle lasted nearly an hour and one Peshmerga was wounded.

    It was reported that other attacks by ISIS militants were also thwarted along the frontlines.


    COMMENT : WITH "MASSIVE " ASSAULT(S) I WOULD EXPECT HIGHER CASUALTIES, BUT ........................ - chattels


    ISIS abandon dead in pre-dawn defeat

    By RDAW

    ERBIL, Kurdistan Region - ISIS attackers were defeated by Peshmerga fighters early on Thursday in Mekhmour town, southeast of Mosul, with the militants abandoning 11 dead comrades.

    Sirwan Barzani, top commander of the Gwer-Mekhmour front, said ISIS suffered heavy casualties in the thwarted attack.

    ISIS also launched a multi-pronged assault on other Peshmerga bases early on Thursday, Barzani said, adding that the Peshmerga repelled the militant onslaughts in all areas.


    and TODAY

    Street clashes, 3 wounded as Peshmerga repulse ISIS offensive in Shingal

    SHINGAL, Kurdistan Region – Three Peshmerga were wounded in Shingal Thursday, where Kurdish forces repulsed an Islamic State attack on Kurdish-controlled positions in the war-ravaged city.

    General Hashim Sitayi from the 8th Peshmerga division told Rudaw the attack involved intense street clashes in the city.

    “The clashes went on for several hours, till late in the evening,” Sitayi said, adding that coalition warplanes were involved in some of the fighting. He could not provide details of ISIS casualties because of the poor visibility at night.

    Kurdish forces in December last year recaptured most areas around Shingal, including Mount Shingal, where thousands of Yezidis had taken refuge after an ISIS offensive last summer.

    Parts of the city are in Peshmerga control but roadside mines and explosives planted by the militants have hampered advances.

    Meanwhile Kurdish security forces seized three tons of TNT in the border town of Rabiaa and arrested several suspects, according to Qasim Smo, a Kurdish security official in Shingal, about 30 kilometers away.



    US ‘eyeing new air base’ in Iraq amid talk of major offensive on ISIS

    Sunday, 15 February 2015 20:14

    Baghdad (AIN) -Washington is working to install a new air base in Iraq’s Kurdistan to be used in a campaign against Islamic State (ISIS), media report. This comes as the White House’s special envoy on ISIS speaks of a ground operation in Iraq against the militants.

    This time an American stronghold in the region will be deployed in Erbil, the capital of semi-autonomous Kurdistan region in northern Iraq that is expected to be used as a logistics hub to supply primarily munitions for warplanes of the US-led coalition against ISIS militants.

    “The base is close to Erbil, the capital of the regional government…The warplanes will do surveillance, but the warplanes which will bomb ISIL targets will not take off from here,” Helgurt Hikmet, spokesperson for the Ministry of Peshmerga (Kurdish self-defense forces) said, as cited by Anadolu Agency.

    Turkey’s Hurriyet also reported that the US is preparing documents to get land leasehold for the next 15 years to station US military personnel and warplanes. A number of the US Air Force’s Black Hawk helicopters have already been deployed to Erbil earlier this month, to ensure quick rescue operations to save downed pilots bombing ISIS positions in Northern Iraq. Such operations became a priority after ISIS fighters burnt alive a downed Jordanian pilot.

    Fighter jets of the US and its western allies have been conducting airstrikes against ISIS in Iraq since early August. Starting from September 23, the US and its Arab allies: Saudi Arabia, Bahrain, Qatar, Jordan and the United Arab Emirates started bombing ISIS in Syria, without obtaining any authorization either from Damascus or a UN mandate.

    “There will be a major counter offensive on the ground in Iraq,” retired Marine Corps General John Allen, the White House special envoy on the Islamic State, told Jordan's official Petra news agency a week ago. The operation is actually supposed to be an Iraqi army offensive supported by the anti-ISIS coalition firepower.

    But on Friday, the Islamic State carried out a coordinated suicide bomber attack against the air base housing 320 US Marines just eight kilometers away from the western Iraqi city of al-Baghdadi, confirmed to be under the extremists’ control now.



    Iraqi PM Haider al-Abadi: We plan to regain Mosul

    Shafaq News/ Iraqi Prime Minister Haider al-Abadi has told the BBC's John Simpson that Iraq is making preparations to move against the Islamic State stronghold of Mosul. He also said that when he took office five months ago, he was surprised at the lack of support from the US. However, he said that has changed significantly in the last four weeks with ''an acceleration of support''. The Islamic state organization has dominated over vast areas in both Iraq and Syria during last year and announced the establishment of an "Islamic state". The organization is being exposed to intense air strikes since months ago by aiming to weaken and end the presence of the organization by American Coalition aircraft, according to US President , Barack Obama who stressed that at the announcement of the formation of the coalition. Many countries participate in the Alliance including Saudi Arabia, Bahrain, Qatar and the UAE, which had suspended its participation after the fall of the Jordanian plane pilot , Muath al- Kasasbeh and killing him, then raids resumed afterwards.



    Abadi told the BBC: the liberated areas in Mosul will be for the people of the province and not the center or region

    February 16, 2015

    02/16/2015 12:03 GMT

    Follow-up -oara -announced Prime Minister Haider al-Abadi, on Monday, the start of recording thousands of volunteers for the Liberation of Nineveh “Daash,” explaining that the liberated territories should be for the people of Mosul and not the center or the region, while pointing out that the disputed areas solved by the Constitution and not War.

    Ebadi said in an interview reported by the “BBC”, “The more the population of Mosul with the situation in Iraq and against the organization Daash, who are dear to us people and interested freed, and we have received requests for participation process Liberation thousands and we started the registration of names and volunteers,” noting that by saying, “We want people fighters and practical people on the ground that they can contribute to us. ”

    He added, “We have started preparations for a big, and I have appointed two months before the liberation of Mosul,” explaining that “Mosul is keen to be successful, I do not want to sacrifice civilians through fierce fighting, the correct configuration will reduce the losses.”

    He continued, “The central government is coordinating with the Kurdistan region in order to be editor of Mosul, a joint operation and a high degree of coordination,” pointing out that “the government does not want to dispute the liberated areas to happen.”

    Abadi said, that “the liberated areas should be for the people of Mosul,” stressing saying, “We as a government, federal or Peshmerga do not want to take control of the war, the disputed zones replace the constitution.”

    He pointed out that “the local police will be kept after the liberation of land to prevent any reprisals or subversive by Daash or armed groups, and this is essential,” noting that “fear of influence in the Iraq conflict because of conflicts between neighboring countries.”

    Abadi and welcomed “any Arab contribution in this regard,” explaining that “Jordan Daash seen as a threat to national security”



    Expert: seizing Mosul may take 10 months, 30,000 troops

    ERBIL, Kurdistan Region – The battle to free the city of Mosul from the grip of the Islamic State will require as many as 30,000 soldiers and take as long as 10 months, a leading Kurdish military analyst has told Rudaw.

    Colonel Masoud Salih, an instructor at Zakho Military Academy, said the city’s large size and a tough ISIS defense perimeter could make for one of the toughest, and longest, battles against terrorism in Iraq since 2003.

    He said the impending battle is expected to take place in June with Peshmarga forces acting as auxiliary units to the Iraqi Army.

    Without proper training in urban warfare, he added, the Iraqi army will struggle to dislodge the militants. Mosul fell to ISIS on June 9 after the Iraqi army deserted the city without serious confrontations.

    A successful attack on Iraq’s second-largest city, as explained by Salih, must be accomplished in three stages.

    “The first stage has started, which is surveillance, information gathering, training the Iraqi army and arming the [local Sunni] tribes,” he said.

    The second stage, Salih continued, would be: “Analyzing information, identifying the objectives, planning military operations, setting the Zero hour and cutting the supply lines of ISIS.

    “The third stage would be to commence the operation from three directions, east, south, and the west of Mosul.”

    Each front in the attack on Mosul, according to Salih, would require 10,000 soldiers., with each group divided into 8,000 active fighters and 2,000 reinforcements. He believes strongly the battle will be lengthy, possibly 10 months.

    Some commanders think differently, however, and believe ISIS will soon collapse.

    One military officer estimates ISIS has only some 12,000 fighters in Mosul. The officer, who chose to remain unnamed, said rumors of as many as 30,000 ISIS militants in Mosul are simply ISIS propaganda.

    Yet Salih was quick to point out why the fight would take so long.

    “ISIS has been digging trenches around Mosul for quite some time, also, suicide bombers, and IEDs on the roadsides would slow down the military movements. Urban warfare is difficult and there are also civilians living in the city and the military goals are not clear yet.

    “These factors will make the battle last longer,” said Salih.

    Regarding the role of the Peshmerga forces, Salih said, “The Peshmerga forces will not participate in the ground operations of liberating Mosul, they will act as an auxiliary force that would support the Iraqi army with heavy weapons. They will also protect the residential areas of the minorities in Bartilla, Hamdaniya, Bashika, etc.”

    Salih was among the officers sent to the US for training after 2003 and is aware of many facets of the new Iraqi Ministry of Defense. His experience has given him insight into why the US has not armed Peshmarga forces directly.

    “First, the US does not want to change the balance of forces in Iraq,’ he said.

    “Second, the Kurdistan Region still does not have an organized and united professional army.”

    Even so, Salih said the time to make military preparations for the battle of Mosul is running out.

    “All the signs show that the battle will begin in June, and basically this war needs six months of preparation, which means only four months left.”



    Official: Mission to retake Mosul to begin in April, May

    By Associated Press

    WASHINGTON — The operation to retake Iraq's second largest city from Islamic State militants will likely begin in April or May and will involve about 12 Iraqi brigades, or between 20,000 and 25,000 troops, a senior U.S. military official said Thursday.

    Laying out details of the expected Mosul operation for the first time, the official from U.S. Central Command said five Iraqi Army brigades will soon go through coalition training in Iraq to prepare for the mission. Those five would make up the core fighting force that would launch the attack, but they would be supplemented by three smaller brigades serving as reserve forces, along with three Peshmerga brigades who would contain the Islamic State fighters from the north and west.

    The Peshmerga are Kurdish forces from northern Iraq.

    The official said there also would be a Mosul fighting force, largely made up of former Mosul police and tribal forces, who would have to be ready to go back into the city once the army units clear out the Islamic State fighters.

    Included in the force would be a brigade of Iraqi counterterrorism forces who have been trained by U.S. special operations forces. The brigades include roughly 2,000 troops each. The official was not authorized to discuss the operation publicly and spoke on condition of anonymity.

    The official said the U.S. will provide military support for the operation, including training, air support, intelligence and surveillance. The official said there has been no decision made yet on whether to send in some U.S. ground troops to help call in airstrikes.

    Islamic State militants overtook Mosul last June, as the group marched across large sections of Iraq and Syria, sending Iraqi forces fleeing. At this point, officials estimate there are between 1,000 to 2,000 Islamic State insurgents in the city of Mosul. Military leaders have been talking about retaking the city for some time, but they have said they won't launch the operation until the Iraqi troops are ready.

    The official said they wanted to retake Mosul in the spring, before the summer heat and the holiday month of Ramadan kick in.

    "But by the same token, if they're not ready, if the conditions are not set, if all the equipment they need is not physically there and they (aren't) trained to a degree in which they will be successful, we have not closed the door on continuing to slide that to the right," he said.

    The official also revealed for the first time that Qatar has agreed to host a training site for coalition forces to train moderate Syrian rebels who would return to Syria to fight the Islamic State forces there. Other sites are in Turkey, Jordan and Saudi Arabia.


    Iraqis worry they won't be ready for Mosul operation
    By Associated Press

    WASHINGTON — Questions persist about whether the struggling Iraqi military will be ready for the operation to retake the country's second largest city from Islamic State militants in just a few months.

    Iraqi officials continue to insist they haven't gotten the advanced weapons they need for the operation in the northern city of Mosul, and some question whether they will be ready for a spring offensive. But the Pentagon insists the U.S. has sent tens of thousands of weapons and ammunition and more is in the pipeline.

    Hakim al-Zamili, the head of the security and defense committee in the Iraqi parliament, told The Associated Press Friday that "any operation would be fruitless" unless the brigades are properly prepared and have the weapons they need.

    "I think if these weapons are not made available soon, the military assault might wait beyond spring," he said. "The Americans might have their own calculations and estimations, but we as Iraqis have our own opinion. We are fighting and moving on the ground, so we have better vision and April might be too soon."

    A U.S. Central Command official provided some details of the battle plan Thursday, saying the coordinated military mission to retake Mosul will likely begin in April or May and will involve up to 25,000 Iraqi troops. They have cautioned, however, that if the Iraqis aren't ready, the timing could be delayed.

    The core of the fighting force will be five of Iraq's most accomplished brigades, who will go through additional U.S. training before the operation.

    But al-Zamili said that while several of Iraq's units have gone through training recently, "these well-trained brigades cannot get involved in battles without being equipped with advanced and effective weapons that would enable them to penetrate enemy lines."

    His comment reflects a common complaint from the Iraqi government, both in recent months and throughout much of the Iraq war. The U.S., however, has sent tens of thousands of weapons, ammunition, body armor and other equipment to the country.

    According to a senior defense official, the U.S. sent nearly 1,600 Hellfire missiles to Iraq last year, and has already delivered 232 more. About 10,000 M-16 assault rifles are due to arrive in the next few weeks, along with 23,000 ammunition magazines. The U.S. also has delivered thousands of rockets, mortar rounds, tank rounds, .50-caliber rounds and 10,000 M-68 combat optical sights, a rifle scope commonly used by the U.S. military.

    About 250 mine-resistant, armor-protected vehicles will be delivered in a few weeks, along with sophisticated radio systems for the MRAPs and more ammunition rounds, said the official, who was not authorized to discuss the matter publicly and spoke on condition of anonymity.

    The public discussion of the operation, including how many Iraqi brigades would be involved and how Kurdish Peshmerga military would be used, triggered questions about whether it provided any key information to the enemy.

    The Pentagon doesn't often disclose as much about an operation before it takes place, but in some cases it can be a strategic tactic intended to affect the enemy, trigger a reaction or even prompt some militants to flee before the assault begins. Military officials also said none of the information released by U.S. Central Command could be put to any operational use by the Islamic State militants.

    The operation itself comes as no surprise to the Islamic State group. Iraqi leaders have for months made it publicly clear that they were planning an operation to retake Mosul and that they were eager to get started. In addition, U.S. officials had already acknowledged they were beginning preparations for the Mosul mission, including using airstrikes to shut down supply lines the insurgents were using to get equipment or people in and out of the city.



    US Defense Secretary refuses to set a precise date for the Liberation of Mosul

    Washington-Iraq Press -21 February: rejection of the new US Secretary of Defense Ashton Carter, on Saturday, select the "exact date" to attack Iraqi expected to liberate the city of Mosul from organizing "Daash", while stressing the need to be offensive in time succeed in it.

    Carter said in his first meeting with reporters, since that was sworn in on Tuesday, "We will not announce the exact date of the Iraqi attack is expected to recover from Mosul Daash organization."

    Carter added, "I think the only thing I can say about it is that this will be an offensive led by the Iraqis and the US-backed", stressing that "it is important at the time of attack can succeed in it."

    An official at the US Central Command revealed, on Friday,

    , For the processing of Iraqi military force includes elements of the Peshmerga forces consisting of five military brigades, with about 25 thousand troops to restore the city of Mosul from organizing "Daash", while likely to be a battle in the period April-Oaaralamqublan. Ended (1)



    Feili: 2015 to witness eliminating ISIL from Iraq

    Sunday, 22 February 2015 11:19

    Baghdad (AIN) –The Iraqi Ambassador to Washington, Loqman al-Feili, assured that 2015 will witness the end of the war against what is so called the Islamic State of Iraq and Levant since these terrorists will be expelled of Nineveh province. ( * Mosul ) ** THE CAPITAL OF NINEVEH PROVINCE

    The Iraqi Ambassador to USA declared in statement received by All Iraq News Agency ''The war of Iraq against the terrorism forces spread throughout Iraq and the security forces, including Peshmerga forces, are fighting terrorists together, though the lack in resources.''



    Flurry of IS attacks divert Iraqi army's attention

    Contradiction prevails in official announcements regarding the course of the battles against the Islamic State (IS) and the group's movements on the ground. When Iraqis were expecting a Mosul liberation battle, IS rushed to send additional fighters to Anbar, Salahuddin and Kirkuk in a bid to open new fronts, with the aim of putting Iraqi forces on the defensive.

    Read more: http://www.al-monitor.com/pulse/orig...#ixzz3Sr5WQNwo
    Last edited by chattels; 02-26-2015 at 12:55 PM.

  5. #5

    Re: "The Dinar Daily ", Thursday, 26 February 2015

    Reserved for Oil and Gas

  6. #6

    Re: "The Dinar Daily ", Thursday, 26 February 2015

    Reserved for National Guard and Accountability / Justice


    Parliament announces the arrival of the Justice and Accountability Act and calls for the relevant committees done

    Announced the Presidency of the Council of Representatives, on Thursday, on receipt of the law of accountability and justice from the government, parliamentary Mtalibhalgan competent to complete the procedures for amending the law to be included on the agenda of the vote.

    The deputy chairman of the House of Representatives Iaram Sheikh Mohammed told / information / "The Council recognizes the Justice and Accountability Act of Council of Ministers today and the ball is now in the court of parliament.

    "The Presidency has asked the relevant committees to speed up the completion of the law to consult with specialists and other committees and amended in accordance with the Iraqi constitution for the purpose of degrees on the agenda of the next plenary agenda.

    And the effects of "the law of accountability and justice among the political differences between the parliamentary circles including the National Alliance, which stipulated that the inclusion of Baathists to this law and the Union forces, which seeks to exclude a number of political leaders of the law.



    National Guard Law up the presidency of parliament formally

    Khandan - Vice President of the Iraqi Council of Representatives Iaram Sheikh Mohammed, the arrival of a project of the National Guard Law to the Presidency of the Council formally by the Council of Ministers, among this law consists of 22 items, and purpose of the establishment of a unified military force to keep the provincial security outside the territories.

    He said Sheikh Mohammed, in a statement received (Khandan) a copy of it, that "the National Guard functions of the fight against terrorism and armed groups sixth paragraph of Article (4) of this military power of the chief of staff and the department and administrative stores armament and military operations and intelligence its own include." explained Deputy President of the Council that "the bill said not arming the National Guard with heavy weapons, but the middle and the most capabilities of the Federal Police and less than the Iraqi army weapons, according to the first paragraph of Article (7) General Commander of the Armed Forces presents three candidates for the leadership of the National Guard and send the names to the House of Representatives for a vote on one candidate and then ratified by the Council of Ministers. "

    Last edited by chattels; 02-27-2015 at 04:53 AM.

  7. #7

    Re: "The Dinar Daily ", Thursday, 26 February 2015

    Reserved for National Reconciliation I

  8. #8

    Re: "The Dinar Daily ", Thursday, 26 February 2015

    Reserved for National Reconciliation II

  9. #9

    Re: "The Dinar Daily ", Thursday, 26 February 2015

    In Parliament Today

    Parliament resumes its session Thursday

    Thursday, 26 February 2015 10:37

    Baghdad (AIN) –Parliament will voted on the fourth amendment of the Law regulating Paving roads and will conducted the first and second readings for six other law drafts during Thursday session.


    Parliament session starts, 200 MPs attend

    Thursday, 26 February 2015 12:10

    Baghdad (AIN) –The parliament session of Thursday started to vote on and read seven law drafts.


    Obaidi arrives to Parliament to discuss latest security updates

    Thursday, 26 February 2015 13:10

    Baghdad (AIN) –The Minister of Defense, Khalid al-Obaidi, has arrived to the parliament building to discuss the latest security updates in Anbar and Baghdadi district in particular.

    Parliamentary source sated to AIN "The parliament session is attended by 200 MPs."



    Thursday, 26 February 2015 15:10

    Parliament resumes its session after adjourning it for 30 minutes

    Baghdad (AIN) –Parliament resumed its session after adjourning it for 30 minutes due to a heated debate between the Speaker, Saleem al-Jobouri, and MP, Kadhim al-Sayadi, over law of Compensating Justice Victims.
    Last edited by chattels; 02-26-2015 at 12:51 PM.

  10. #10

    Re: "The Dinar Daily ", Thursday, 26 February 2015

    MP: Boycot The Parliament Sessions Does Not Serve The Political Process

    BAGHDAD / NINA / MP, for the Patriotic Union of Kurdistan, Beeston Adel described some of the blocs' boycott for the parliamentary sessions as "harmful and does not serve the political process."

    He told the National Iraqi News Agency / NINA / "We do not want the boycott to be continued, while terrorism targets everyone without exception."

    He called to "go to national reconciliation and work together to break the terrorism, which works to flame sectarian violence."

    He also called boycotting blocs to attend parliamentary sessions, and return to the meetings, calling for a political and national unified position against terrorism and its criminal operations.

    It is mentioned that MPs of the Iraqi forces coalition and members of the National Bloc (Watania) suspended their attending the meetings of the House of Representatives on the background of the kidnapping incident of MP, Zaid al-Janabi and killing his uncle and a murder of his bodyguards in the twelfth of this month.

    At the time, a number of Watania bloc ended their boycott, the MPs of the Iraqi forces coalition have not decided to return or not.

    At a meeting of the Iraqi forces coalition's leaders, yesterday, they decided to continuing consultations with the political forces, and demanded political partners to clarify their positions on the weapons chaos and their obligations in terms of the implementation of the political agreement.


    - chattels
    Last edited by pinkadonai1; 02-26-2015 at 12:22 PM.

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