Monthly Archives: February 2017

Video: Iraq Forces in West Mosul aim for key Bridge

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Iraqi forces battled jihadists in west Mosul Sunday, aiming to build a floating bridge across the Tigris to establish an important supply route linked to the recaptured east bank:


The goal of the NPTB has always been to wear down the will of the cabal through steady and unrelenting progress. ​Like running water eroding a mountain. They knew that constant pressure was the only way to eliminate the beast from any participation in the inevitable new world of love and light. 

​When each of you jumped into the RV vortex it was an individual choice. However, few knew what it

The Problem with Gold-Backed Currencies, 26 FEB

The Problem with Gold-Backed CurrenciesPosted on February 23, 2017 by Charles Hugh SmithThere is something intuitively appealing about the idea of a gold-backed currency –money backed by the tangible value of gold, i.e. “the gold standard.”Instead of intrinsically worthless paper money (fiat currency), gold-backed money would have real, enduring value–it would be “hard currency”, i.e. sound

Zimbabwe: Feasibility of a Gold-Backed Currency, 26 FEB

Zimbabwe: Feasibility of a Gold-Backed Currency2/26/2017 09:43:00 AM  News    Persistence GwanyanyaIN my February 10 instalment, I argued that using gold to back bond notes could boost confidence in the surrogate currency and, by extension, attract more investments to rebuild the local economy.Admittedly, this suggestion does not constitute an optimal currency solution, but could be a better

GardaWorld Weekly Security Report

GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers.

Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments across the country, including the battle to liberate Mosul.

Please click here to download the latest report free of charge.

For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at

Iraq Stock Market Report

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 23rd Feb 2017).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQ1092 (+1.9%) / $1112 (+2.7%) (weekly change) (+13.8% and +17.4% YTD change, respectively). The number of week traded shares was 7.5bn and the weekly trading volume was IQD5.8bn ($4.5mn).

ISX Company Announcements

  • The CBI announced its capability to cover Iraq’s international liabilities and at the same time to finance its foreign trade. It confirmed that the reserves of foreign currency are within “international standards.” CBI announced the size of Iraq’s reserves of foreign currency at $49bn amount. (Alsumaria)
  • Economy Bank for Investment (BEFI) will hold a GA on Mar. 8, 2017 to discuss increasing the capital and electing new BoD. ISX will suspend trading of BEFI starting on Mar. 2, 2017.
  • Al-Ameen Estate Investment (SAEI) will hold AGM* on Mar. 6, 2017 to discuss and approve 2015 annual financial results. ISX will suspend trading of SAEI starting on Mar. 1, 2017.
  • New shares of Al-Arabiya Islamic Bank (BAAI) from the capital increase to IQD250bn through 150% rights issue resumed trading on Feb. 23, 2017.
  • Al-Kindi of Veterinary Vaccines Drugs (IKLV) resumed trading on Feb. 21, 2017 after discussing and approving 2015 annual financial results.
  • Kurdistan International Bank (BKUI) announced that the ownership of Khan Adil Disko increased to 35.9bn shares, which represents 8.98% of BKUI capital and ownership of Bahra Muhammed Yassin decreased to 31.8bn shares, which represents 7.95% of BKUI capital.

U.S., Coalition Continue Strikes Against ISIS

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported today.

Officials reported details of yesterday’s strikes, noting that assessments of results are based on initial reports.

Strikes in Syria

Coalition military forces conducted 18 strikes consisting of 24 engagements against ISIS targets in Syria:

  • Near Shadaddi, a strike destroyed a vehicle-borne bomb.
  • Near Raqqa, three strikes engaged an ISIS tactical unit and destroyed a vehicle, a tactical vehicle and a mortar system.
  • Near Dayr Az Zawr, seven strikes destroyed six oil wellheads, an oil tanker truck and a front-end loader.
  • Near Palmyra, seven strikes engaged two ISIS staging areas and an ISIS tactical unit; destroyed five storage units, three tanks, two vehicles, an oil storage tank, a pump jack and an ISIS-held building; and damaged two oil storage tanks.

Strikes in Iraq

Coalition military forces conducted 23 strikes consisting of 84 engagements against ISIS targets in Iraq, coordinated with and in support of Iraq’s government:

  • Near Huwayjah, a strike destroyed an ISIS headquarters.
  • Near Beiji, seven strikes engaged five ISIS tactical units and destroyed five vehicles, two ISIS compounds and a tunnel entrance.
  • Near Kisik, two strikes destroyed an ISIS headquarters and an ISIS-held building.
  • Near Mosul, seven strikes engaged four ISIS tactical units; destroyed 15 fighting positions, 11 mortar systems, three vehicles, three weapons caches, two ISIS-held buildings, two vehicle-borne bombs, a sniper position, an ISIS headquarters, two heavy machine guns, an artillery system, an unmanned-aerial-vehicle staging area and a supply cache; and suppressed 14 mortar teams, two ISIS tactical units, an artillery team and a rocket-propelled-grenade team.
  • Near Tal Afar, six strikes destroyed four ISIS headquarters, a vehicle and a tactical vehicle.

Part of Operation Inherent Resolve

These strikes were conducted as part of Operation Inherent Resolve, the operation to destroy ISIS in Iraq and Syria. The destruction of ISIS targets in Iraq and Syria also further limits the group’s ability to project terror and conduct external operations throughout the region and the rest of the world, task force officials said.

The list above contains all strikes conducted by fighter, attack, bomber, rotary-wing or remotely piloted aircraft; rocket-propelled artillery; and some ground-based tactical artillery when fired on planned targets, officials noted.

Ground-based artillery fired in counterfire or in fire support to maneuver roles is not classified as a strike, they added. A strike, as defined by the coalition, refers to one or more kinetic engagements that occur in roughly the same geographic location to produce a single or cumulative effect. For example, task force officials explained, a single aircraft delivering a single weapon against a lone ISIS vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against a group of ISIS-held buildings and weapon systems in a compound, having the cumulative effect of making that facility harder or impossible to use. Strike assessments are based on initial reports and may be refined, officials said.

The task force does not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target.

(Source: US Dept of Defense)

‘Encouraging Initial Successes’ for Western Mosul

Iraqi forces, backed by coalition strikes, are making gains in efforts to liberate western Mosul from Islamic State of Iraq and Syria terrorists, Defense Department spokesman Navy Capt. Jeff Davis told reporters at the Pentagon on Friday.

“The [Iraqis] have captured villages to the west of Mosul and they have penetrated the formal city limits from the south,” he said, adding, “We’ve seen some encouraging initial successes.”

About 75 percent of the Ghazlani military base southwest of Mosul has been secured, he said. In addition, Iraqi forces have a “strong foothold” on liberating the Mosul airport, Davis said. The Iraqis have cleared terrain to the south and west of Mosul, he said, gaining 24 square miles within the last day, for a total of 100 square miles since the offensive began five days ago.

The captain pointed out the total territory gained since Oct. 17, when the battle for Mosul began, is about 1,500 square miles. That figure includes recently cleared eastern Mosul, he said.

Tough Fight Expected

Resistance around western Mosul is “moderate,” Davis said, with the terrorists using improvised explosive devices and indirect fire to “harass and slow down” Iraqi forces. The terrorists have pulled back into west Mosul, he said, noting that the coalition expects a “very challenging fight,” since ISIS is entrenched in the area.

“That’s dense urban terrain, more dense than what we saw in east Mosul in a place where they are well-dug in,” the captain said.

Meanwhile, Iraqi forces continue defensive holding operations in eastern Mosul, he said, and the coalition continues to hit ISIS targets around Mosul. In the past 24 hours, Davis said, coalition forces conducted six strikes in a total of 80 engagements. Targets included ISIS tactical units, mortar systems, rocket launchers, anti-air artillery systems, fighting positions, vehicles and weapons caches, he said.

Syria Update

Coalition efforts are ongoing to support efforts to isolate the Syrian city of Raqqa, and operations for the city of Bab, Davis said.

Bab “does appear to be largely liberated,” he said, explaining the Turkish military and vetted Syrian opposition forces are conducting operations in the vicinity of the city.

Yesterday, the 112th day of operations to isolate Raqqa, Syrian Arab coalition forces conducted offensive operations northeast of that key city, Davis said.

Those efforts resulted in the clearing of large swaths of terrain along two axes and the taking of 67 square miles, he said, along with the liberation of several villages.

30-Day Plan to the President

The Pentagon will meet Monday’s deadline for the 30-day review that President Donald J. Trump ordered about the plan to fight ISIS, Davis said.

As the chairman of the Joint Chiefs of Staff, Marine Corps Gen. Joe Dunford, highlighted Thursday, the review is a “whole of government plan that deals holistically with ISIS,” he said.

Davis described the plan as a “framework for a broader plan.” However, he said, details of the strategy will remain private, explaining it is a “plan to attack an enemy and I don’t think we’re going to want to telegraph too much of it.”

(Source: US Dept of Defense)

(Picture: Iraqi soldiers practice weapon safety during urban environment training at Camp Taji, Iraq, Feb. 20, 2017. The soldiers were part of the junior leader course led by coalition forces in support of Combined Joint Task Force Operation Inherent Resolve. Army photo by Spc. Christopher Brecht)


I’m haven’t decided yet what to think of this – mostly because I do not believe in an upcoming RV under any circumstances… but on 2/15 my father-in-law went to his bank and asked about Dinar and Dong. He always carries one of each just in case.. In this instance the teller said nothing for Dinar, but for Dong .36 per dong. Or was it .39? one or the other). Anyway, he pulled out a 25K dong note

Restored Republic via a GCR as of Feb. 26 2017

Restored Republic via a GCR as of Feb. 26 2017Compiled in the early morning hours EST of 26 Feb. 2017 by Judy Byington, MSW, LCSW, ret, CEO, Child Abuse Recovery; Author, “Twenty Two Faces,” Feb. 25 2017 10:00 pm EST Intel Situation Report: “Late Night” – Intel SITREP – 22:00 EST – Saturday – February 24, 2017 Saturday completed what Sunday begins.**