Nadita File – 12/04/2014
Good evening everyone, thanks for watching Nadita File where the spin starts here :)
The report is longer than usual as a lot to report, so let's start with :)
Fighting ISIS : Captl1 reported House passes $585B defense bill that grants Pres. Obama the authority to expand the US military mission against ISIS terrorists in Iraq and Syria.
In addition to funding expanded US military ops, the bill also authorizes the training and equipping of moderate Syrian rebels.
The measure, passed 300-119 now heads to the senate where several republicans have objected to the bill’s inclusion of unrelated provisions to expand wilderness areas. Despite the objections, the bill is expected to pass the senate next week.
Other News : Uneek read thousands of people taking to the streets of NYC for the second straight night to protest grand jury’s decision not to indict a white police officer in the Chokehold death of a black man.
Eric Garner was killed a few months ago in confrontation with NYPD. I can’t breathe” was the chant of the night as Eric said that before he died. Eric Holder said DOJ will investigate the death of Eric Garner.
The protest prompted temporary closure of several lanes on the Brooklyn Bridge and Manhattan’s west side highway. Demonstrations also taking place in Boston, Chicago, Dallas, Portland and Washington DC.
Terry Bean, a big donator for democrats who rides in air force one with Pres. Obama is charged with sexual assault to 15 year old boy.
Wiljor is waiting as Pres. Obama expected to announce his pick for defense secy Friday. WH spox Josh Earnest did not identify the candidate, but other admin officials said it will be former Pentagon #2 Ashton Carter. Carter served as deputy defense secy from 2011 to 2013.
Chuck Hagel resigned as defence secy last month, saying today it was a mutual decision based on discussion with the president. Hagel will remain in office until his successor is confirmed.
Drj heard Health officials warn this year’s flu vaccine may not be very effective against the dominant strain they have been seeing. But CDC official says the vaccine will provide some protection and are calling on people to get a flu shot anyway.
Flu vaccine effectiveness varies from year to year. Last winter’s vaccine was about 50-55% effective which is conserved relatively good. On average some 24,000 Americans die each flu season.
Chess reported fed Judge rules Indiana abortion clinic law unconstitutional. The 2013 law expanded definition of an abortion clinic to include facilities that prescribe an abortion pill, and required clinics to meet certain physical requirements.
It exempted physician’s offices that offer the pill from having to meet those requirements. Abortion rights supporters say law was aimed at shutting down a planned parenthood facility in Lafayette, IN.
The only clinic in Indiana that prescribes the pill but does not perform surgical abortions. Planned parenthood calls Judge’s decision a victory for women’s rights.
A-J516 can’t believe what he reads, MN State high school sports league overwhelmingly approves transgender policy. Policy which will begin in the 2015-2016 season, will allow boys who self indentify as girls and girls who consider themselves boys to compete on and against team of their preferred gender.
Religious schools are exempt. Policy requires transgender student-athletes to provide written statement from parent or guardian affirming the gender identity and a note from a health care professional.
Calkid11 shakes his head to hear AZ taxpayers on the hook for more than $2.7M for Jodi Arias’s defense. Arias, who was given two court appointed attorneys after she was unable to pay for her own defense, was convicted of murder last year in 2008 killing of ex boyfriend Travis Alexander. But jurors deadlocked on sentence. New jury will decide whether she’s sentenced to death or life in prison.
Nfire is happy as gas station in Oklahoma City first in nation to charge less than $2 a gallon since July 2010. Analysts say drivers in TX, SC and MO may soon see $2 gas as well.
As of Wednesday afternoon Americans were paying an average of $2.74/gallon, 51 cents cheaper than a year earlier. Gasbuddy.com expects national average to fall near $2.50/gallon by Christmas.
Thriver heard Weather and mechanical problems force NASA to postpone launch of its new Orion spacecraft. The space agency says it will try again Friday, although the weather forecast doesn’t look good. Orion’s inaugural 4.5 hr flight will send the unmanned capsule 3,600 miles into space. NASA hopes Orion will one day carry astronauts to Mars.
Defense Secy Chuck Hagel says there’s been real progress in the Pentagon’s effort to combat sexual assault in the military. There were nearly 6,000 victims of reported assaults in 2014, compared with just over 5,500 last year.
According to new defense dept date, despite rise in reported assault anonymous survey showed victims are more willing to come forward. Hagel says the military still has a long way to go in combating the problem, as more than 60% of female service members who filed sexual assault reports say they faced retaliation for coming forward.
Rodandstaff takes a deep breath when he hears Pentagon confirms its attempt last month to free American hostage Luke Somers from Yemen failed because he was not present at the targeted location.
33 year old Somers is the only American among about a dozen hostages held by al qaeda’s Yemeni offshoot. Al Qaeda released a video Wednesday showing Somers on camera for the first time and says he will be killed in three days unless Pres. Obama meets their demands.
Genx4me says a prayer for Ibolya Ryan, 47 years old American teacher from Colorado that was stabbed to death by a woman in Abu Dhabi. UAE police arrest a woman. The suspect is also believed to have been plotting to bomb another American’s house.
Interior Minister Saif Bin Zayed Al Nahyani says the attacker targeted her victims based on their nationality in an attempt to create chaos and terrorize the country.
Pres. Putin is not a happy camper today during his speech to the nation. He was defiant on his speech accusing the west meddling in Russian affair. Putin promises amnesty for whomever bringing money back to Russia without questions asked how they get the money. Ruble has lost 40% of its value in the last few months.
Dow is down 12 points today. Gold closed at $1,203, silver at $16.47, copper at $2.91. Crude oil – WTI closed at $66.56 and Brent at $69.29. Natural gas at $3.67. Is copper a good investment? copper is down 6% this month and rebounds from low. Copper is used in many things.
Pampers and plastic going different direction. Credit Suisse upgraded pampers maker Procter & Gamble (PG) to buy with target price $120. BMO downgrades Tupperware (TUP) to underperform with price target $63.
BOA also upgrades Regency Centers Corp (REG) to buy with new target price to $67 from $62. Costco is up but Walmart got downgraded by UBS.
Avago Technologies (AVGO)also gets a lift from Brean Capital to buy with price target at $122.
Whereas Capital One initiates overweight for CSI Compressco (CCLP) with price target $30, the stock is trading at $20.92.
Apple (AAPL) is on the rise as Piper Jaffray raised it to buy with new target price of $150.
Hawaiian Electric (HE) sizzles at trading today, gaining 14%, closing at $32.22.
Energy lagging today, weighing on Dow. Increase of production and soft demand make the oil price drop. Exxon (XOM) and Chevron (CVX) didn’t slip and slide much at trading today.
Despite income has not increased for middle class in 10 years, auto sales surged in November at 17.2M. Are Americans levering themselves with 9 year loan, lower interest rates to 0% to 1.9% interest rate. 29% of auto sales is leasing. Homes and cars are selling must be easy credits??
Was Sony an easy target? Sony’s lack of security makes them easy target for hackers.
ECB Draghi says risks to economic outlook on downside, forecasts suggest lower inflation. 2014 GDP growth forecasts cut to 0.8% outlook for modest recovery still in place. He is looking at impact of oil on econ trends which forecasts 2015 GDP cut to 1%.
World of ETFs : S&P500 is up 19%, Germany EWG is up 14% since its low last year. Brazil EWZ up 3% from its low. Russia RSX flat as economic headwinds brings Russian market near 52 week low, no upside momentum any sooner. EEM is up 10%.
From Dinar Land : Sixty countries met in Brussels, Belgium to find ways to counteract ISIL. In addition to military efforts the participants discussed ways to cut off financing and supporting those who are actually fighting ISIL on the ground such as Iraqi security forces, Kurdish peshmerga and Kurds in Syria as well as groups of rebels that collectively referred to as Free Syrian Army.
The meeting shows how dangerous ISIL can be with more groups in Syria, Egypt, Libya, Lebanon and other countries in Middle East pledged allegiance to caliph of Baghdadi which expanded from 7th through 10th centuries when Arab muslims were considered the strongest and most dominant in the world. PM Abadi was one of the most dignitaries attending the conference.
He made an outstanding speech stating Iraq is determined on defeating terrorists and liberating all areas overrun by ISIL.
PM Abadi also met with Saudi Foreign Minister Saud al-Faisal in Brussels during the conference. Both pledged to improve their relationships and join efforts to defeat ISIL.
Faisal accepted an invitation to Baghdad. Saudi Arabia has not have an ambassador in Baghdad since Saddam Hussein invaded Kuwait in 1990.
In Anbar province a prominent tribal leader reported that Iraqi security forces backed by tribal fighters and airstrikes led by Sandfly attacked ISIL terrorist units in the Hit area putting to sleep at least 16 and wounding scores. Among the dead was an Egyptian leader within ISIL ranks.
Six vehicles and shelters were destroyed. Wasit province said they arrested 73 suspected criminals who are sleeping cells. Kurdish fighters in the embattled Kobani said they repelled two offensives by ISIL killing and wounding a significant number.
The Ministry of Interior said it will publish the names of 26 officers relieved from their duty lately. The statement stated the changes are not meant to punish anyone but rather to bring change and young blood to the ranks of leadership of the army and other posts.
Iran is denying that it conducted airstrikes against ISIL in Iraq. US said there is no coordination with Tehran to launch airstrikes and flight paths of the US led coalition so not to cross those Iranian warplanes.
Military analyst said Iran is keeping an eye on a 25 mile wide stretch along its border with Iraq and the airstrikes are limited to those areas. They added the commanders in both camps are aware of the airstrikes and their timing in order not to cross path.
Iraq welcomes any country willing to join the fight against terrorists. US said Iran should not further inflame sectarian tensions.
The head of Nahrain Bank, Abdul Mohsen al-Munthiri said Iraq is fortunate enough to have several options when faced with challenging circumstances. He projected Iraq will work on creating industries and agricultural projects in near future.
The private sector will play a major role in the next phases. He concluded that all Iraqis have the responsibility and duty to help increase revenues.
US Energy Information Admin said Iraq is seeking to increase its electric power generation to 27,000 megawatts by end 2015. The current five year plan calls for budget $27B in power generation projects. South Korean and Chinese companies are expected to lead in this field.
Regional and international companies are watching the developments between GOI and KRG. There is growing interest in investing and getting involved in Kurdistan projects.
There are plenty of infrastructure building projects that it needs especially with many displaced people will reside permanently in the region.
Financial experts in Iraq expect to see reductions in the budget that will affect every employee working in government institutions. An employee at the ministry of construction and housing said her monthly salary was cut by $100, the deduction comes from bonuses not from basic salary. Similar deductions are to be expected across the board.
Lebanese authorities reported they detained the wife of the founder of ISIL and her son. ISIL has twenty Lebanese security forces hostages, so the wife and her son may be used as a bargaining chip for their release.
Oil Minister Adel Abdul Mahdi declared a comprehensive deal has been reached between KRG and GOI. KRG will give GOI control of 250,000 bpd and export 300,000 bpd through the Turkish Ceyhan pipeline and terminal. In return, GOI will give KRG $13B per year in addition to an immediate $1B to pay salaries.
Abdul Mahdi said the deal proves that oil belongs to all Iraqis and will unite the country in their fight against the terrorists. OPEC countries are nervous as some of them, just like Iraq depend largely on oil exports.
As oil prices continue to plunge, Iraq and OPEC are scrambling to generate income from other sources and tighten their expenses. One expert who remains anonymous said this is a healthy wake up call forcing the bureaucrats to get off the behind.
After a week full of diplomacy visits by Pope Frances and Pres. Putin. Turkey finally agreed to let US and NATO countries to use its southern airbases to launch airstrikes against ISIL on condition US will establish safe zone in northern Syria bordering Turkey.
French oil giant TOTAL said it has discovered new reserves of oil and gas near the city of Erbil in Kurdistan region. This is a second discovery in the same area in two years.
As oil prices plunges, Iraqi officials are working hard to find ways to save money especially foreign currency. Several ministries are getting rid of excessive red tape and streamlining their operations electronically.
Council of Ministers agree to cut minister’s salaries by 50% that applies to deputy ministers and other top officials. This effort will not affect the poor and the needy.
From Rumor Land : Backdoc is interested in December 12th as a day of completion concerning the laws in time for them to complete the budget and holiday.
TerryK thinks parliament is still in session.
Exogen says global banking and financial instruments are currently being calibrated.
Poppy3 says time will tell but it will not be long in his book.
Shredd doesn’t know if CBI going with managed float or market driven float.
Tim724 says banking laws will make all the difference for Iraq, to bring them in compliance with IMF and propel their economy using international standards of operations.
Angelquest thinks it’s done but not sure.
Millionday says they are amending the banking laws in a hurry and CBI is in the final stages.
Backdoc thinks Iraq needs to get international rate to recruit new business.
The spin stops here :) send your comments to #naditafile, Dinar Thug is next, good night everyone