Battle for Mosul sparks Iraq-Turkey rivalry

October 25, 2016

Oct 25: A dispute between Iraq and Turkey has emerged as a dramatic geopolitical sideshow to the complicated military campaign to retake Mosul, Iraq's second-largest city, from Islamic State (IS).

mosulPresident Recep Tayyip Erdogan of Turkey has insisted on a role in the battle for Mosul, trying to ramp up an involvement in Iraq that has already alarmed the Iraqi government.

“We have a historical responsibility in the region,” Erdogan said in a recent speech, drawing on his country's history of empire and defeat, from Ottoman rule of the Middle East to its loss in World War I. “If we want to be both at the table and in the field, there is a reason.”

In response, the normally mild-mannered Iraqi Prime Minister Haider al-Abadi, warned last week of a military confrontation between Turkey and Iraq. If Turkish forces intervene in Mosul, he said, they will not “be in a picnic.” “We are ready for them,” al-Abadi said. “This is not a threat or a warning. This is about Iraqi dignity.”

The rift between Turkey and Iraq is no mere diplomatic row; it is a stark example of the complete breakdown in sovereignty of not just Iraq but Syria as well. IS has erased the borders between the two countries, while Turkey has stationed troops in both countries without the permission of either government.

Turkey has angered the Iraqi government by keeping a unit of troops at a base in Bashiqa, an area of northern Iraq near Mosul and surrounded by IS territory. For more than a year, the Turks have also been training Kurdish peshmerga forces and Sunni Arab fighters in Iraq, including a militia led by a former governor of Mosul, Atheel al-Nujaifi.

The Turkish military deployment, even just to train local forces, has been bitterly opposed by the Iraqi government, and al-Abadi has demanded that the troops leave.

Now that the battle for Mosul has started, Erdogan has given a number of incendiary speeches in which he has seemed to suggest that he is itching for the Turkish military to become directly involved in the fighting.

The battle for Mosul began last week with a push by Kurdish and Iraqi forces, backed by US advisers and US airstrikes, to take back dozens of villages outside the city. For the US, Turkey, a Nato ally, has again proven itself a difficult partner in the fight against IS.

As it has in Syria, where Turkey has opposed, and sometimes bombed, Syrian Kurdish allies that are working with the US to fight the IS, Turkey has undermined US goals in Iraq by insisting on playing a role in the fight for Mosul.

For almost a year, US diplomats have sought to contain the crisis. They have encouraged the Turks to respect Iraq's sovereignty and aid the fight against the IS by carrying out activities under the umbrella of the US-led coalition.

But Turkey has kept its troops in Bashiqa, a deployment the Iraqi government says it never approved. According to a US State Department official, Turkey has about 600 to 800 troops at Bashiqa, equipped with tanks and artillery, and has sometimes fired on IS positions from there. Turkish troops did so on Sunday in support of Kurdish peshmerga fighters, officials said.

Zalmay Khalilzad, a former US ambassador to Afghanistan and Iraq, warned in a recent article in The National Interest that Turkey and Iraq may be heading for war. He wrote that there was a “danger of a war within a war that could damage the prospects for retaking and stabilising Mosul.”

Those fears seem extreme, if only because the Iraqis have their hands full with the IS. But defusing the tension has become another challenge for US diplomats.

The United States is trying to broker a compromise in which the Turks would not directly participate in the Mosul offensive but stick to training and perhaps medical and humanitarian support. In a visit to Turkey in recent days, US Defence Secretary Ash Carter said there was an agreement “in principle” between Turkey and Iraq, which the Iraqi government immediately denied. Iraq appears to want a commitment from the Turks that they will leave after Mosul is retaken.

Carter said the US is trying to balance “our respect for the sovereignty of Iraq” and “our respect also for Turkey's historic role in the region.”

Turkey has a number of strategic reasons for maintaining a military presence in northern Iraq. It wants a bulwark against the Kurdistan Workers' Party, or PKK, which is waging an insurgency in southeast Turkey and keeps bases in the mountains of northern Iraq. The PKK fought in the battle for Sinjar, in northern Iraq, last year.

Ottoman glory

Turkey, a Sunni power, also says it wants to protect ethnic Turkmen and Sunni Arabs in northern Iraq and counter the presence of Shiite Iran, which is dominant in Iraq and controls several well-equipped militias. More broadly, and in keeping with Erdogan's vision of reclaiming Ottoman glory, Turkey wants to project influence around the region, in Iraq but also in Syria, where in August the Turkish military intervened to push IS out of the city of Jarabulus.

At times, Erdogan has seized on the issue of Mosul to highlight, for his own public, century-old grievances that linger from the end of World War I, when Western powers divided the former Ottoman lands of the Middle East. “We did not voluntarily accept the borders of our country,” he said. He has also referred to a manifesto from the last Ottoman parliament, as the empire crumbled, claiming Mosul as part of Turkey. “Our most important task is to teach this to a new generation,” he said recently.

Mensur Akgun, director of the Global Political Trends Centre in Turkey, said that for Turks, “there is also an emotional side to the issue.” Referring to Mosul, Akgun said: “A century ago, that place was Turkey. A big geography was Turkey. It is committed in the memories that British and French imperialism was responsible.”

Erdogan has said he is worried about the presence in Iraq of Iranian-backed militias, which have been accused of abuses against Sunni civilians. At the same time, Turkey's presence has inflamed sectarian passions within Iraq.

In the run-up to the Mosul battle, the US worked closely with Iraqis to put together a force that included the Iraqi army, Kurdish forces and Sunni tribal fighters but not Shiite militias. But because of Turkey's insistence on playing a role, Shiite militia leaders now say they, too, might join the battle.

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News Network
April 21,2020

New York, Apr 21: Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don't want to get stuck owning crude with nowhere to store it.

Stocks were also slipping on Wall Street in afternoon trading, with the S&P 500 down 0.9%, but the market's most dramatic action was by far in oil, where benchmark U.S. crude for May delivery plummeted to negative $3.70 per barrel, as of 2:15 pm. Eastern time.

Much of the drop into negative territory was chalked up to technical reasons — the May delivery contract is close to expiring so it was seeing less trading volume, which can exacerbate swings. But prices for deliveries even further into the future, which were seeing larger trading volumes, also plunged.

Demand for oil has collapsed so much due to the coronavirus pandemic that facilities for storing crude are nearly full.

Tanks could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts.

Benchmark U.S. crude oil for June delivery, which shows a more ”normal” price, fell 14.8% to $21.32 per barrel, as factories and automobiles around the world remain idled. Big oil producers have announced cutbacks in production in hopes of better balancing supplies with demand, but many analysts say it's not enough.

“Basically, bears are out for blood,” analyst Naeem Aslam of Avatrade said in a report. “The steep fall in the price is because of the lack of sufficient demand and lack of storage place given the fact that the production cut has failed to address the supply glut.”

Halliburton swung between gains and sharp losses, even though it reported stronger results for the first three months of 2020 than analysts expected. The oilfield engineering company said that the pandemic has created so much turmoil in the industry that it “cannot reasonably estimate” how long the hit will last. It expects a further decline in revenue and profitability for the rest of 2020, particularly in North America.

Brent crude, the international standard, was down $1.78 to $26.30 per barrel. .

In the stock market, the mild drops ate into some of the big gains made since late March, driven lately by investors looking ahead to parts of the economy possibly reopening as infections level off in hard-hit areas.

Pessimists have called the rally overdone, pointing to the severe economic pain sweeping the world and continued uncertainty about how long it will last.

The Dow Jones Industrial Average was down 364 points, or 1.5%, to 23,887. The Nasdaq was down 0.1%..

More gains from companies that are winners in the new stay-at-home economy helped limit the market's losses Amazon rose 1.4%, and Netflix jumped 3.8% as people shut in at home buy staples and look to fill their time. Clorox likewise rose toward a new record and was up 1% as households and businesses that remain open look to stay clean.

In Tokyo the Nikkei 225 fell 1.1% after Japan reported that its exports fell nearly 12% in March from a year earlier as the pandemic hammered demand in its two biggest markets, the U.S. and China.

The Hang Seng index in Hong Kong lost 0.2%, and South Korea's Kospi fell 0.8%.

European markets were modestly higher The German DAX was up 0.5%, the French CAC 40 was up 0.7% and the FTSE 100 in London gained 0.7%.

In a sign of continued caution in the market, Treasury yields remained extremely low. The yield on the 10-year Treasury slipped to 0.64% from 0.65% late Friday. It started the year near 1.90%. Bond yields drop when their prices rise, and investors tend to buy Treasurys when they're worried about the economy.

Stocks have been on a generally upward swing recently, and the S&P 500 just closed out its first back-to-back weekly gain since the market began selling off in February. Promises of massive aid for the economy and markets by the Federal Reserve and U.S. government ignited the rally, which sent the S&P 500 up as much as 28.5% since a low on March 23.

More recently, countries around the world have tentatively eased up on business-shutdown restrictions put in place to slow the spread of the virus.

But health experts warn the pandemic is far from over and new flareups could ignite if governments rush to allow ”normal” life to return prematurely.

The S&P 500 remains about 15% below its record high in February as millions more U.S. workers file for unemployment every week amid the shutdowns.

Many analysts also warn that a significant part of the recent recovery in stocks is due to the expectation among some investors that the economy will rebound sharply once economic quarantines are lifted. They're essentially predicting that a line chart of the economy will ultimately resemble the letter “V,” with a wild ride down but then a quick pivot to a vigorous recovery.

That may be to optimistic. “We caution that a U-shaped recovery is also quite likely,” where the economy bottoms out and stays at that low level for a while before recovering, strategists at Barclays warned in a recent report.

Without strong testing programs for COVID-19, businesses likely won't feel comfortable bringing back their full workforces for a while.

”With risk assets now overbought, the chance for a correction has increased,” Morgan Stanley strategists wrote in a report.

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Agencies
March 14,2020

San Francisco, Mar 14: Microsoft on friday announced that co-founder Bill Gates has left its board of directors to devote more time to philanthropy.

The 64-year-old stopped being involved in day-to-day operations at the firm more than a decade ago, turning his attention to the foundation he launched with his wife, Melinda.

Gates served as chairman of Microsoft's board of directors until early in 2014 and has now stepped away entirely, according to the Redmond-based technology giant.

“It's been a tremendous honor and privilege to have worked with and learned from Bill over the years,” Microsoft chief executive and company veteran Satya Nadella said in a release.

Nadella said Microsoft would continue to benefit from Gates' “technical passion and advice” in his continuing role as a technical advisor.
“I am grateful for Bill's friendship and look forward to continuing to work alongside him,” he added.

Gates left his CEO position in 2000, handing the company reins to Steve Ballmer to devote more time to his charitable foundation.

He gave up the role of chairman at the same time Nadella became Microsoft's third CEO in 2014.

Regularly listed among the world's richest people, William H. Gates was a geeky-looking young man when he and Paul Allen co-founded Microsoft in 1975.

Gates went on to turn his attention from software to fighting disease and other humanitarian challenges with his wife, under the auspices of the Bill and Melinda Gates Foundation.

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News Network
June 24,2020

Geneva, Jun 24: The global cumulative count of confirmed coronavirus cases is approaching nine million, with 133,326 cases recorded over the past day, the World Health Organisation (WHO) said in its daily situation report on Tuesday.

Over the past 24 hours, 3,847 people died from COVID-19 worldwide, taking the cumulative death toll to 469,587 fatalities, according to the report.

The global case total has now reached 8,993,659.

The Americas still account for the majority of cases and deaths -- 4.4 million and 224,207, respectively.

The United States remains the country with the highest count of cases and fatalities -- 2.3 million and 119,761, respectively.

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