Extremists in Decline:Pentagon Cites Losses by ISIL,al-Qaida

The tide is turning against the Islamist extremists of ISIL and al-Qaida,according to Pentagon spokesman Peter Cook,who briefed reporters on 19 December 2016.Over the weekend,the Libyan Government of National Accord announced the successful conclusion of the campaign to liberate the city of Sirte from the Islamic State in Iraq and the Levant,Mr.Cook noted.It was the only city outside of Iraq and Syria under ISIL's control.US Africa Command carried out this mission with particular skill,especially limiting the risk of civilian casualties in carrying out airstrikes in Sirte,Mr.Cook pointed out.We will continue to keep a close eye on the remnants of ISIL in Libya and will continue to assist the GNA as appropriate going forward.*
In Iraq,Mr.Cook said,the Iraqi Security Forces continue to degrade ISIL in Mosul,where the ISF has cleared approximately 20% of the city.
In Syria,the Syrian Democratic Forces rebel group have reached the Euphrates River northwest of the ISIL stronghold of Raqqa,which is important as the SDF try to isolate ISIL within Raqqa.Importantly,the SDF is continuing to attract Arab fighters for continuing the fight against ISIL.*
And finally,on the progress of counterterrorism in Afghansitan,we previously announced on October 23 that a precision airstrike near Kunar,Afghanistan killed Faruq al-Qatani,the al-Qaida emir for Eastern Afghanistan.The Department has now determined that the same airstrike killed two additional senior al-Qaida leaders:Bilal al-Utaybi,who was al-Qatani's deputy;and Abd al-Wahd al-Junabi,a senior al-Qaida explosives expert.All three were actively involved in the planning and carrying out of acts of terror inside and outside Afghanistan.The deaths of these three senior leaders will significantly disrupt the group's ability to threaten the US,our interests and our allies,and highlights our continuing commitment to the counterterrorism mission in Afghanistan.This strike is further evidence that those who seek to do us harm are not beyond our reach,Peter Cook concluded at the Pentagon on Monday.

The CIA Versus ISIL

CIA Deputy Director David S. Cohen says the Agency is working closely with the US military in Iraq and Syria to disrupt and degrade ISIL.Mr.Cohen was previously Deputy Director for Operations (clandestine service) at the CIA.*
John Brennan,Director of the Central Intelligence Agency,adds that ISIL today is a greater cause for alarm than al-Qaida was after 9-11.ISIL is a lot larger than al-Qaida was and goes into more places.*
Italy will allow US drones to be based at the US Naval Air Station in Sigonella,Sicily for protection of US Special Operations Forces serving on the ground in Libya and elsewhere in North Africa.No offensive operations by the drones will be permitted and Italian pre-approval of the strikes will be required.Italy says it is committed to playing its part in the anti-ISIL effort,Operation Inherent Resolve.
The programme was initiated in January.
While the CIA has recently been involved in identification and location of ISIL leaders in Syria for drone targeting,the Pentagon's Joint Special Operations Command has actually been carrying out the strikes.It is not known whether the Agency is playing the same role in the North Africa programme.

Libyan Fund Scores in Legal Wrangle With Goldman Sachs

London-The Libyan Investment Authority has compelled Goldman Sachs to reimburse it for legal costs it incurred when the financial services titan tried in August to have the LIA's one billion dollar lawsuit against it resolved at a summary trial,instead of at a full hearing.The presiding judge found after a two-day hearing that Goldman should never have submitted the application for summary judgement.In consequence,Goldman must now fork over at least 200,000 pounds to the LIA for its expenses-and possibly as much as 680,000 pounds.
The full hearing on the case will likely begin in 2016.*
The LIA,a sovereign wealth fund,alleges that Goldman Sachs took them for a complete ride.It exploited the LIA and its ignorant staff by encouraging them to make nine very risky investments of over one billion dollars that ultimately failed.Goldman bribed the staff with luxury gifts such as a junket to Morocco with heavy drinking and girls,as well as expensive nights out on the town in London.
Goldman responds that it simply offered small gifts to cement a strategic partnership with key LIA staff,who were actually quite experienced international bankers.In fact,the transactions in question were relatively straightforward and easy to understand,and the investments would have succeeded in more favourable market conditions,Goldman Sachs pointed out.*
Goldman Sachs(GS)

Asian Voices 2-plus a Middle East Moment

The focus,perhaps,should be more on the job market in China,said Donna Kwok,Greater China Economist at HSBC Global Research.Domestic consumption and social stability could be hurt by it.
We think the downturn in China is driven by one thing:external demand,given the downturn in Europe and sluggish growth in the US.We continue to see incremental steps to liberalisation in the next few years.Redistribution of workers is more important to domestic demand in China than absolute numbers of workers.
Mark Konyn,CEO of Cathay Canning Asset Management,notes that in Europe,we're starting to see contraction across the continent,and that's worrying.That could get worse.Spain hasn't been able to work its way through the regional problems.
I think there'll be more asset purchasing.Markets are positioning for more stimulus.We're expecting to see more growth in the second half of the year.I would argue it's more cyclical than waiting for stimulus in China.
In the Middle East,shock waves continue to ripple through the region from the deadly rocket attack on the US Consulate in Benghazi,Libya.Senator John McCain,R-Arizona,said I see it as a newly-elected government that is having the growing pains that any government would have.There are weapons everywhere in Libya, and there are jihadists that have come into the country and continue to come on.These are very dangerous people trying to hijack the revolution.
The attack was done by people who were obviously Muslim extremists.We all should be worried about al-Qaida.The best way to help Libya is to help them train their army and with their intelligence capability.I'm confident we can do that.I cannot be more proud of Ambassador Chris Stevens,the senator had emotionally said of his friend,US Ambassador J.Christopher Stevens,who with three colleagues was killed Tuesday in the organised Benghazi assault by perhaps two dozen militants on the eleventh anniversary of 9-11.