Showing posts with label Iraq. Show all posts
Showing posts with label Iraq. Show all posts

18 July 2014

Conflicts Turn Into Catastrophe

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This week has revealed a world in turmoil with futures uncertain for many in and around hotbeds of violence.

Russia and Ukraine


The US imposed further unilateral sanctions on Russia striking another blow to Russia's economy who were not happy with the newly imposed sanctions and threatened retaliation.

While politicians continued to argue blood was shed with the Ukraine army pushing back on the rebel-held Donetsk. However the world stood up and took notice when commercial flight MH17 was shot down by pro Russian militants killing 298 people on board. Among the passengers were 100 AIDS researchers on a trip to a conference in Melbourne, Australia. Since the shooting down of Flight MH17 the UN Security Council has called for an emergency meeting to discuss the growing problems.


Israel and Gaza


After the kidnapping and murder of several teenagers Israel forces retaliated by sending in troops to the north of Gaza and later bombing Hamas targets hitting a Mosque and clinic. Hamas countered taking aim at Tel Aviv with casualties beginning to grow on both sides of the conflict. As the conflict escalated the number of casualties rose further as both sides fought tit for tat.

There was a brief seize fire organized by Egypt which Israel accepted in return for militants stopping rocket fire, however, it did not last long with Hamas armed wing vowing to intensify the conflict and Israel targeting top Hamas leaders in return. As the conflict continued more innocents paid the price with an Israeli airstrike killing four children on a Gaza beach. Israel claimed a small victory when it stopped 13 men tunneling in from Gaza. There was momentary peace when another seize fire was agreed for 5 hours for humanitarian aid with fighting continuing soon after.


Libya


Fighting at Tripoli's international airport escalated with clashes between Zintan and Islamist Militia killing 7 people with fighting continuing when days after the initial attacks the airport was hit by rockets. With unrest threatening to spiral out of control the UN withdrew all it's staff from Libya and Libyan airspace was closed.

A suspect in the 2012 attack on the US embassy in Benghazi was found dead in his prison cell after only 2 days in custody.

Iraq


The US and Iraqi government have tried to use growing tension between the extremists groups against each other. However the US see's risks in assisting Iraq directly with many units are deeply infiltrated by either Sunni extremist informants or Shiite personnel. With fighting Kurdish women battled jihadist-led rebels in Iraq and lastly 29 people were killed in Baghdad when Militia stormed an apartment building in the east.

20 June 2014

Business, Bitcoin and Bureaucracy

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It's been an interesting week for business with one or two highlight's in a sea of gloom, from the US to Iraq, Argentina and China, it's been a global affair.


The week started on a positive note when Starbucks announced it would pay tuition for thousands of it's employee's to take courses through Arizona State University to complete their Bachelor's degree. It seemed like business as usual with Amazon announcing the it's latest product, the Fire Phone, to take on the smartphone market.

But it didn't last long heading downwards from there with the GM CEO set to face more Capital Hill questions after the recent spate of recalls and got worse when hackers stole customer data from Domino's pizza in Europe and demanded a ransom.

Things seemed to only get worse when the US Marshal's leaked the list of potential bidders for Bitcoins confiscated from Silk Road. Bitcoin continued the negative ride when the Bitcoin doomsday scenario arrived as it was revealed that 51% of Bitcoin's processing power was controlled by a single group. There was some light for Mt. Gox who got approval for US bankruptcy protection.

While the Obama Administration made strides determined to extend family leave for same-sex couples the Federal Reserve announced it would curtail it's bond buying activity but continue with mortgage bonds and potentially Treasury securities too. But it wouldn't last long with a Veterans Affairs official being arrested for accepting $40k in illegal gifts.

Internationally it got downright ugly with the Argentine government trying to side step a US Supreme Court order by offering a debt swap to it's creditors. China then rejected a shipping alliance despite support from the US and EU which would have saved the industry money. And if all that wasn't bad enough the escalating violence in Iraq shook the markets with oil prices surging.