The document provides an overview of the ongoing migrant crisis in Calais, France, where thousands of migrants have gathered hoping to cross the English Channel into the UK. It discusses the complex political and social issues surrounding the crisis. Specifically, it examines the disparate media portrayals of migrants as both criminals and victims, questions the motivations of migrants in risking their lives to travel to Europe, and analyzes the political rhetoric used on both sides of the debate. The crisis is portrayed as a much broader issue for the European Union due to migration pressures across the entire continent.
This document is a research proposal by Eden Cope for their political science class. The proposal examines factors that may insulate the United Arab Emirates from militant Islamist groups, specifically U.S. and U.K. involvement, a strong military, or a stable government. Cope hypothesizes that these three factors have influenced UAE national security and prevented terrorist threats. The proposal outlines Cope's plan to research this question through secondary sources, with the goal of highlighting measures that can stabilize other Arab regimes.
The document discusses three main topics:
1) The US military allowed more recruits with felony convictions to enlist in 2007 compared to 2006, including some with manslaughter and sex crime convictions, in order to meet combat needs. The numbers of Army recruits with felonies increased from 249 to 511 and Marines from 208 to 350.
2) Iraq's prime minister appealed to Arab neighbors for support such as forgiving debts and opening embassies as the government cracks down on Shiite militias threatening more violence.
3) Former President Carter said Hamas leaders told him they are willing to accept Israel as a "neighbor next door" but they did not back this up by halting violence against Israel, with seven rockets
View the latest commentary on Iraq from The PRS Group. Now more a decade on from the overthrow of Saddam Hussein, Iraq remains deeply troubled by dangerous ethnic and sectarian divisions, woeful security conditions, and chronic political instability in Baghdad that has undermined the
Millbrook Technology Park (Lite) BrochureDarren Ellis
Millbrook Technology Park offers office, workshop, and laboratory space for automotive design, engineering, testing, and development on both short and long-term flexible lease terms. The park provides immediate access to Millbrook's full range of vehicle testing services and is a focal point for automotive innovation. Build-to-suit opportunities are also available across four zones totaling over 24,000 square meters, with occupation possible within 9-14 months.
Millbrook Technology Park - Brochure (lite)Darren Ellis
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Code of Reponsible Business Conduct_EN_15.08.16Anni Jin
This document provides Telia Company's Code of Responsible Business Conduct. It introduces the code and explains that it aims to define a common ethical framework and set clear standards for how employees should conduct business with integrity. It notes that Telia takes responsible business seriously. The code applies to all employees, directors, and contractors working for Telia. It outlines expectations for employees to follow all relevant laws and policies and to be transparent in their work. Employees are also expected to report any violations or concerns. The code provides guidance on various topics like gifts and hospitality, conflicts of interest, sponsorships and donations, and improper payments. It emphasizes conducting business with the highest standards of integrity and transparency.
This document outlines the course content for Certified Scrum Product Owner certification training. The course teaches how to use the product backlog to ensure project success. It covers Agile and Scrum principles, roles like the Product Owner and Scrum Master, ceremonies like sprint planning and retrospectives, and maintaining the product backlog. Earning the certification demonstrates Scrum knowledge and expands career opportunities in industries adopting Agile.
Gyanm general awareness_issue_january_2016Grover's Gyanm
The document discusses the ongoing issues related to terrorism and the rise of extremist groups like ISIS. It makes the following key points:
1) Both Western countries and the Muslim world share blame for the current situation due to actions like the Iraq war, abuses at Guantanamo Bay, and the provocation over religious cartoons.
2) Defeating terrorist groups requires addressing issues like Islamophobia, radicalization of youth, and economic disparity through religious open-mindedness, upholding human rights, and prioritizing education.
3) The ISIS poses a new threat as an extremist group that considers other Muslims who disagree with it as apostates. Countering their ideology will be
This document is a research proposal by Eden Cope for their political science class. The proposal examines factors that may insulate the United Arab Emirates from militant Islamist groups, specifically U.S. and U.K. involvement, a strong military, or a stable government. Cope hypothesizes that these three factors have influenced UAE national security and prevented terrorist threats. The proposal outlines Cope's plan to research this question through secondary sources, with the goal of highlighting measures that can stabilize other Arab regimes.
The document discusses three main topics:
1) The US military allowed more recruits with felony convictions to enlist in 2007 compared to 2006, including some with manslaughter and sex crime convictions, in order to meet combat needs. The numbers of Army recruits with felonies increased from 249 to 511 and Marines from 208 to 350.
2) Iraq's prime minister appealed to Arab neighbors for support such as forgiving debts and opening embassies as the government cracks down on Shiite militias threatening more violence.
3) Former President Carter said Hamas leaders told him they are willing to accept Israel as a "neighbor next door" but they did not back this up by halting violence against Israel, with seven rockets
View the latest commentary on Iraq from The PRS Group. Now more a decade on from the overthrow of Saddam Hussein, Iraq remains deeply troubled by dangerous ethnic and sectarian divisions, woeful security conditions, and chronic political instability in Baghdad that has undermined the
Millbrook Technology Park (Lite) BrochureDarren Ellis
Millbrook Technology Park offers office, workshop, and laboratory space for automotive design, engineering, testing, and development on both short and long-term flexible lease terms. The park provides immediate access to Millbrook's full range of vehicle testing services and is a focal point for automotive innovation. Build-to-suit opportunities are also available across four zones totaling over 24,000 square meters, with occupation possible within 9-14 months.
Millbrook Technology Park - Brochure (lite)Darren Ellis
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Code of Reponsible Business Conduct_EN_15.08.16Anni Jin
This document provides Telia Company's Code of Responsible Business Conduct. It introduces the code and explains that it aims to define a common ethical framework and set clear standards for how employees should conduct business with integrity. It notes that Telia takes responsible business seriously. The code applies to all employees, directors, and contractors working for Telia. It outlines expectations for employees to follow all relevant laws and policies and to be transparent in their work. Employees are also expected to report any violations or concerns. The code provides guidance on various topics like gifts and hospitality, conflicts of interest, sponsorships and donations, and improper payments. It emphasizes conducting business with the highest standards of integrity and transparency.
This document outlines the course content for Certified Scrum Product Owner certification training. The course teaches how to use the product backlog to ensure project success. It covers Agile and Scrum principles, roles like the Product Owner and Scrum Master, ceremonies like sprint planning and retrospectives, and maintaining the product backlog. Earning the certification demonstrates Scrum knowledge and expands career opportunities in industries adopting Agile.
Gyanm general awareness_issue_january_2016Grover's Gyanm
The document discusses the ongoing issues related to terrorism and the rise of extremist groups like ISIS. It makes the following key points:
1) Both Western countries and the Muslim world share blame for the current situation due to actions like the Iraq war, abuses at Guantanamo Bay, and the provocation over religious cartoons.
2) Defeating terrorist groups requires addressing issues like Islamophobia, radicalization of youth, and economic disparity through religious open-mindedness, upholding human rights, and prioritizing education.
3) The ISIS poses a new threat as an extremist group that considers other Muslims who disagree with it as apostates. Countering their ideology will be
Rand's Brian Michael Jenkins on Cyber Terrorism and Silicon ValleyInternet Law Center
Silicon Valley will play an important role in countering terrorism given its leadership in technology innovation. Its companies are creating new security technologies to detect threats and protect systems and data. While individual privacy must be respected, Silicon Valley firms are rising to the challenge of national security based on a conference of entrepreneurs showcasing emerging solutions. New approaches could enhance physical security, detect dangerous materials, and enable advanced analytics for counterterrorism. Silicon Valley is positioning itself at the forefront of combating terrorism through technological progress.
A VIEW FROM THE CT FOXHOLE Richard WaltonAn interview w.docxbartholomeocoombs
A VIEW FROM THE CT FOXHOLE:
Richard Walton
An interview with the head of Counter Terrorism
Command at the London Metropolitan Police
FEATURE COMMENTARY
The Threat in
2016
daniel benjamin and steven simon
Combating Terrorism Center at West Point
Objective • Relevant • Rigorous | January 2016 • Volume 9, Issue 1
v
Editor in Chief
Paul Cruickshank
Managing Editor
John Watling
EDITORIAL BOARD
Colonel Cindy R. Jebb, Ph.D.
Department Head
Dept. of Social Sciences (West Point)
Colonel Suzanne Nielsen, Ph.D.
Deputy Department Head
Dept. of Social Sciences (West Point)
Lieutenant Colonel Bryan Price, Ph.D.
Director, CTC
Brian Dodwell
Deputy Director, CTC
CONTACT
Combating Terrorism Center
U.S. Military Academy
607 Cullum Road, Lincoln Hall
West Point, NY 10996
Phone: (845) 938-8495
Email: [email protected]
Web: www.ctc.usma.edu/sentinel/
SUPPORT
The Combating Terrorism Center
would like to express its gratitude
to its financial supporters, for without
their support and shared vision
of the Center products like the
CTC Sentinel could not be produced.
If you are interested in learning
more about how to support the Combating
Terrorism Center, please visit http://www.
ctc.usma.edu or call Allison Barry at West
Point’s Association of Graduates at
845-446-1561.
SUBMISSIONS
The CTC Sentinel welcomes submissions.
Please contact us at [email protected]
The views expressed in this report are
those of the authors and not of the U.S.
Military Academy, the Department of the
Army, or any other agency of the U.S.
Government.
Cover: German police guard the Munich
railway station during the New Year’s Eve
terror alert. GETTY
FEATURE COMMENTARY
1 The Global Terror Threat in 2016: A Forecast
daniel benjamin and steven simon
INTERVIEW
5 A View from the CT Foxhole: An Interview with Richard Walton, Head,
Counter Terrorism Command, London Metropolitan Police
paul cruickshank
ANALYSIS
10 Hezbollah’s Calculus after the Iran Nuclear Deal
magnus ranstorp
14 Al-Qa`ida and the Islamic State Benefit as Yemen War Drags On
gregory johnsen
18 The Islamic State and WMD: Assessing the Future Threat
stephen hummel
22 The Hotel Attacks and Militant Realignment in the Sahara-Sahel
Region
andrew lebovich
BRIEFINGS
29 The Jakarta Attack and the Islamic State Threat to Indonesia
kirsten e. schulze
Our first issue of the year forecasts how the global terrorist threat may
evolve in 2016. Two months on from the Paris attacks and with deadly
attacks already perpetrated in Istanbul, Jakarta, and Ouagadougou,
there are storm clouds overhead. In our cover story Daniel Benjamin
and Steven Simon predict that continued progress in the campaign against the Islamic State in
Iraq and Syria could see the group double down in 2016 with increased attacks in Europe, Russia,
and Turkey as well as possibly Lebanon and Jordan. But they assess that an .
The document discusses the possibility that ISIS may shift its focus to attacks in Europe as it loses ground in Syria and Iraq. As ISIS weakens militarily, insurgent groups have historically resorted to increased terrorist attacks. There are concerns that ISIS may call on followers to carry out attacks in Europe rather than joining the fighting in Syria and Iraq. While the Balkans are not a primary target, the document notes that hundreds of foreign fighters have returned to the region from Syria and Iraq, raising the risk of attacks. Macedonian authorities have increased security but preventing all attacks would be difficult given the many soft targets. Remaining vigilant will be important as threats evolve.
This document discusses the growing threat of ISIS and how it has become directly connected to threats in Australia. It notes that ISIS has been urging supporters around the world to attack enemies wherever they are through its online magazines. Australian intelligence agencies have intercepted communications showing the connection between foreign fighters traveling to Syria and Iraq and homegrown extremism in Australia. The raising of the terror threat level and recent counter-terrorism raids in Australia reflect this increased threat from both foreign fighters and lone actors being inspired by groups like ISIS. To address the threat, the document argues that military and police responses alone are not enough and that a broader community effort is needed.
The Al-Kuwari Clan: The Shadow Architects of Global Instabilityjmounier400
The Al-Kuwari Clan: The Shadow Architects of Global Terrorism
As the second most influential power in the region, the Al-Kuwari family holds forces comparable to nuclear potential in the Middle East and the EU. Under their direct control, alongside gas supplies, terrorist cells also shape Qatar's political agenda. A complex system of financial ties designates them as primary intermediaries in the operational maneuvers of British intelligence agencies in the region. British financiers within the managing partners of Qatari financial institutions, coupled with systemic connections between ruling family members and transnational elites of British and French origin, illustrate the country's enduring role as a proxy for their interests.
The ‘financial captain’ of the ruling family, Minister of Finance Ali bin Ahmed Al-Kuwari, who emerged from the shadows to replace Ali Sherif al-Emadi, successfully accused of corruption, holds authority not only as a leading figure in the country's financial establishment but also far beyond. Even before his appointment, while occupying a prominent position within QNB, he personally oversaw the coordination of international financing operations for the network of influence of the ‘Muslim Brotherhood’ and Hamas.
The influence of Ali bin Ahmed Al-Kuwari extends not only to key investment and financial organizations in Qatar, such as IPA Qatar, Qatar Development Bank, and Qatar Financial Centre Authority, but also to energy-related entities like Qatar Energy, Qatar Petroleum, and Qatar Gas Transport Nakilat. Even prior to his appointment, this individual wielded power over a broad spectrum of levers of influence that determine both the public and shadow policies of Qatar, including gas, offshore activities, radical Islamists, the trust of the ruling dynasty, and transnational elites.
Ali Al-Kuwari, through QNB, is involved in the management of immensely valuable real estate assets owned by Qatari families in the United Kingdom, surpassing even those held by the Queen herself, totaling approximately two million square meters. According to the Qatar Investment Authority's data, Qatar's investments in the United Kingdom have reached a sum of £30 billion. Such a ‘pledge of loyalty’ could be confiscated under a suitable pretext if necessary, and if required, it wouldn't be a challenging endeavor to find a justification for its seizure.
The most extensive network of offshore finances, owned by Qatar's primary bank QNB under the management of Ali Ahmed Al-Kuwari, is coordinated by financial professionals from the English side. Within QNB, the British banking group Ansbacher is included, which possesses an extensive offshore network. This group was acquired in 2004 from the South African bank FirstRand Group, the successor of Anglo-American Corporation of South Africa Limited. Currently, the management is
The Al-Kuwari Legacy: Crafting Global Discordhalkuwari064
The Al-Kuwari Clan, led by Minister of Finance Ali bin Ahmed Al-Kuwari, holds immense influence as the second most powerful entity in the Middle East and the EU, with control over forces comparable to nuclear potential.
This document provides an overview of a dissertation analyzing the most likely types of terrorist attacks to occur in the United Kingdom. It discusses different methods terrorists may use, including chemical/biological/radiological/nuclear attacks, suicide bombings, attacks against armed forces, and attacks against transportation systems. It also addresses the threat of radicalization of UK citizens and compares old IRA terrorism to new threats from groups like Al-Qaida. The dissertation aims to determine the current terrorist mindset and most severe threats facing the UK.
Chapter 5 Global TerrorismNONSTATE ADVERSARIES, FUNDAMENTALIST.docxbissacr
Chapter 5 Global Terrorism
NONSTATE ADVERSARIES, FUNDAMENTALIST RELIGIOUS EXTREMISM, AND WEAPONS ARE THREE FORCES OF GLOBAL TERRORISM, ALL REPRESENTED BY TALIBAN FIGHTERS IN AFGHANISTAN.
Learning Objectives
1. 5.1Recognize that terrorism is a contentious issue that becomes hopelessly muddled by political and military considerations
2. 5.2Review the factors that are conducive to terrorism
3. 5.3Identify the goals, strategies, and weapons of terrorism
4. 5.4Identify the sources of funds that are used for financing terrorism
5. 5.5Review how terrorism adversely affects individuals, nations, and other groups
6. 5.6Summarize five kinds of terrorism
7. 5.7Examine the different ways of combating terrorism
8. 5.8Analyze the fundamental question about the balance between fighting terrorism and protecting democracy within the United States
The Boston Marathon bombing in April 2013 and the grisly murder of an off-duty British soldier in public in London in May 2013 that was filmed on mobile phones as the terrorist waited for police demonstrate a further shift away from centralized terrorist organizations to lone wolf terrorism. This kind of terrorism is conducted by self-motivated independent individuals. The attacks in Boston and London show how difficult it is to prevent lone wolf terrorism.
Successful U.S. counterterrorism measures against al-Qaeda in the Arabian Peninsula and in Pakistan, combined with failed democratic transitions in the Middle East and North Africa, have contributed to the shift of global terrorism to Africa. Domestic terrorist groups such as Boko Haram, which means “Western education is sacrilege,” in northern Nigeria, collaborate with al-Qaeda. The Syrian civil war, chaos in Iraq following the U.S. withdrawal, and the disintegration of law and order in Libya have strengthened terrorism, most notably the group called the Islamic State of Iraq and Syria (ISIS), which claimed credit for the November 13, 2015 terrorist massacre in Paris.
The growing use of armed drones for targeted killings of suspected terrorists in Yemen, Pakistan, Somalia, Niger, and elsewhere raises many controversial issues. Drones are effective weapons against terrorists. Even though they kill fewer civilians than alternative methods, the loss of innocent civilian lives undermines their use.
Edward Snowden’s leaking of documents showing extensive spying on Americans as well as people and governments around the world by the National Security Agency (NSA) as part of America’s counterterrorism strategy raised global concerns about the basic right to privacy. It also has far-reaching consequences for U.S. security and foreign policy.
Osama bin Laden, widely viewed as the embodiment of global terrorism, was killed by U.S. Special Forces on May 1, 2011, in Pakistan. Despite this significant development, the war on terrorism continues. Think about how the escalation of global terrorism affects our daily lives. This global problem is now virtually inseparable from pe.
The document discusses the Sydney cafe hostage crisis and the threat of lone wolf terrorism. It argues that while terrorism is an unlikely threat compared to other dangers, lone wolf attacks carried out by damaged individuals in the name of Islamic State are a growing threat. Lone wolf terrorists like Man Haron Monis, the hostage taker, are appealing to Islamic State because even pathetic actors can achieve notoriety through highly publicized attacks. The threat of copycat lone wolf sieges and hostage situations is increasing.
A small radical fringe element within the Australian Muslim community engages in provocative and sometimes violent protests, damaging the image of Muslims. These fringe groups like Al-Furqan and Hizb ut-Tahrir involve only a few dozen or hundred people but receive disproportionate media attention. Mainstream Muslim leaders work closely with police to address extremism and support rehabilitation efforts, demonstrating that Australian Muslims are well integrated and do not widely support extremist views.
Maguire & Haenline An Illusion of Complicity (RUSI Sep 2015)Thomas Maguire
The report examines claims that the terrorist group Al-Shabaab receives significant funding from East Africa's illegal ivory trade. Through interviews and research, the report finds little evidence that Al-Shabaab is directly involved in poaching or ivory trafficking. While the illegal ivory trade poses security threats, it is primarily driven by organized criminal groups, corrupt officials, and weak law enforcement rather than terrorist financing. Focusing excessive attention on the terrorist link risks distracting from effective responses like reducing demand, prosecuting traffickers, and increasing political will to counter corruption.
This document summarizes key information about the terrorist group ISIS and lessons that can be learned from historical analysis of terrorism. It describes ISIS's capabilities, including its demonstrated ability to fight and control territory in Iraq and Syria, establish governance structures, and generate funding through oil sales and taxation. The document also notes ISIS's willingness to commit atrocities like beheadings. It argues that ISIS represents a unique threat due to its state-building ambitions and that combating the group will test the US's ability to address future asymmetric threats that control territory and populations. The document concludes by outlining lessons from history that could inform how the US responds to ISIS, such as providing long-term military support to local forces and addressing
Al Kuwari Unmasked: The Al-Kuwari Clan: Orchestrators of Global Terrorismbabasefaehudzin
The Al-Kuwari Clan: Orchestrators of Global Terrorism's Shadow
Narratives of Engagement:
The nature of actions is distinctly shaped through interactions with British financiers.
Coordinated financial schemes cast shadows, revealing a strategic orchestration.
The depth of connections within the Qatari Clan affirms transnational elites' keen interest in the BM project.
The Al-Kuwari Clan: Orchestrators of Global Terrorism's Shadow
As the second most influential power in the region, the Al-Kuwari family wields a Middle East and EU influence comparable to nuclear potential. Under their direct control, Qatar's political agenda is not only fueled by gas supplies but also influenced by terrorist cells. Functioning as primary intermediaries, the Al-Kuwari Clan plays a pivotal role in the operational maneuvers of British intelligence agencies in the region. The convergence of British financiers in Qatari financial institutions' managing partners, coupled with systemic ties between ruling family members and transnational elites of British and French origin, underscores Qatar's persistent role as a proxy for external interests.
Minister of Finance Ali bin Ahmed Al-Kuwari, the financial captain of the ruling family, wields authority beyond the country's financial establishment. His influence extends over key investment and financial organizations, as well as energy-related entities, prior to and during his appointment. Through QNB, he manages extensive real estate assets in the United Kingdom, surpassing even those held by the Queen. Qatar's investments in the UK, totaling £30 billion, are subject to potential confiscation under suitable pretexts, showcasing the intertwined interests of Qatari luxury and the British financial elite.
QNB's extensive offshore finances, managed by Ali Ahmed Al-Kuwari, involve British banking group Ansbacher, acquired in 2004. The British branch of QNB, led by Paul McDonagh and George Bell, holds numerous Qatari assets, including real estate properties and yachts. Additionally, the Cayman Islands branch of QNB Finance Ltd, overseen by the Marples Group, plays a role in Qatar's "green energy" initiatives, issuing sustainable development bonds in collaboration with global transnational conglomerates associated with the World Bank's International Finance Corporation.
Yousef bin Ahmed Al-Kuwari, a prominent member of the clan, directs Qatar Charity, engaging in controversial financing of groups like the "Muslim Brotherhood." Despite accusations, his international collaborations remain intact, including partnerships with the UN and other humanitarian organizations. The involvement of the Al-Kuwari Clan, particularly through Yousef, in financing radical Islamists during the Arab Spring aligns with historical British intelligence interest in the "Muslim Brotherhood." This connection becomes illustrative in orchestrating regime change actions in Egypt.
The evolving stance of the British toward the "Muslim Brotherhood" is rooted
The Al-Kuwari Clan: Orchestrators of Global Terrorism's Shadows.aljazeeramasoom
The Al-Kuwari Clan: Orchestrators of Global Terrorism's Shadows
Narrative Deliveries:
The orchestrated actions find definition through engagements with British financiers.
A coordinated nature is implied by the shadow financial schemes.
The QC's extensive connections confirm transnational elites' interest in the BM project.
Ranked as the second most influential power in the region, the Al-Kuwari family wields a Middle East and EU influence akin to nuclear potential. Under their direct control, terrorist cells, alongside gas supplies, mold Qatar's political landscape. Serving as primary intermediaries in operational maneuvers for British intelligence agencies, their financial ties extend through managing partners of Qatari financial institutions. The systemic connections between ruling family members and transnational elites of British and French origin underline Qatar's role as a proxy for their interests.
Minister of Finance Ali bin Ahmed Al-Kuwari, the financial captain of the ruling family, replaced Ali Sherif al-Emadi, accused of corruption. Beyond leading the country's financial establishment, Ali bin Ahmed's influence spans key investment and financial organizations, as well as energy-related entities. His role extends to coordination of international financing for the "Muslim Brotherhood" and Hamas.
Through QNB, Ali Al-Kuwari oversees management of valuable UK real estate assets, surpassing even those held by the Queen. Qatar's investments in the UK reach £30 billion, representing a significant "pledge of loyalty." QNB's extensive offshore finances, managed by Ali Ahmed Al-Kuwari, involve British banking group Ansbacher, with ties to real estate properties and yachts owned by the Qatari establishment.
The Al Kuwari Family The Shadow Architects of Global Terrorism.pdfmamukadash
The Al-Kuwari Clan: The Shadow Architects of Global Terrorism
Delivery Narratives:
The interactions with British financiers define the guided nature of actions.
Shadow financial schemes imply a coordinated nature.
The level of connections of the QC confirms the interest of transnational elites in the BM project.
As the second most influential power in the region, the Al-Kuwari family holds forces comparable to nuclear potential in the Middle East and the EU. Under their direct control, alongside gas supplies, terrorist cells also shape Qatar's political agenda.
The Al-Kuwari clan, led by Minister of Finance Ali bin Ahmed Al-Kuwari, wields immense financial and political power in Qatar and beyond through its control of key banks and organizations. It has extensive connections to British and other Western financiers and intelligence agencies, and has mediated the financing of terrorist groups like the Muslim Brotherhood. Ali Al-Kuwari's son Abdullah is involved with the World Economic Forum and its vision of "stakeholder capitalism" that could gradually erode the values of organizations like the Muslim Brotherhood.
Qatari Charades: Unmasking the Al-Kuwari Clan's Influence on Global Dynamicsjmounier400
The Al-Kuwari clan, led by Minister of Finance Ali bin Ahmed Al-Kuwari, wields immense financial and political power in Qatar through extensive offshore networks managed with British assistance. Al-Kuwari has overseen Qatari financing of terrorist groups like the Muslim Brotherhood and Hamas. Through these networks and Qatar Charity, the Al-Kuwari clan maintains partnerships with international organizations while also facilitating funds to violent extremists, demonstrating Qatar's role as a proxy for Western interests in the region.
Rand's Brian Michael Jenkins on Cyber Terrorism and Silicon ValleyInternet Law Center
Silicon Valley will play an important role in countering terrorism given its leadership in technology innovation. Its companies are creating new security technologies to detect threats and protect systems and data. While individual privacy must be respected, Silicon Valley firms are rising to the challenge of national security based on a conference of entrepreneurs showcasing emerging solutions. New approaches could enhance physical security, detect dangerous materials, and enable advanced analytics for counterterrorism. Silicon Valley is positioning itself at the forefront of combating terrorism through technological progress.
A VIEW FROM THE CT FOXHOLE Richard WaltonAn interview w.docxbartholomeocoombs
A VIEW FROM THE CT FOXHOLE:
Richard Walton
An interview with the head of Counter Terrorism
Command at the London Metropolitan Police
FEATURE COMMENTARY
The Threat in
2016
daniel benjamin and steven simon
Combating Terrorism Center at West Point
Objective • Relevant • Rigorous | January 2016 • Volume 9, Issue 1
v
Editor in Chief
Paul Cruickshank
Managing Editor
John Watling
EDITORIAL BOARD
Colonel Cindy R. Jebb, Ph.D.
Department Head
Dept. of Social Sciences (West Point)
Colonel Suzanne Nielsen, Ph.D.
Deputy Department Head
Dept. of Social Sciences (West Point)
Lieutenant Colonel Bryan Price, Ph.D.
Director, CTC
Brian Dodwell
Deputy Director, CTC
CONTACT
Combating Terrorism Center
U.S. Military Academy
607 Cullum Road, Lincoln Hall
West Point, NY 10996
Phone: (845) 938-8495
Email: [email protected]
Web: www.ctc.usma.edu/sentinel/
SUPPORT
The Combating Terrorism Center
would like to express its gratitude
to its financial supporters, for without
their support and shared vision
of the Center products like the
CTC Sentinel could not be produced.
If you are interested in learning
more about how to support the Combating
Terrorism Center, please visit http://www.
ctc.usma.edu or call Allison Barry at West
Point’s Association of Graduates at
845-446-1561.
SUBMISSIONS
The CTC Sentinel welcomes submissions.
Please contact us at [email protected]
The views expressed in this report are
those of the authors and not of the U.S.
Military Academy, the Department of the
Army, or any other agency of the U.S.
Government.
Cover: German police guard the Munich
railway station during the New Year’s Eve
terror alert. GETTY
FEATURE COMMENTARY
1 The Global Terror Threat in 2016: A Forecast
daniel benjamin and steven simon
INTERVIEW
5 A View from the CT Foxhole: An Interview with Richard Walton, Head,
Counter Terrorism Command, London Metropolitan Police
paul cruickshank
ANALYSIS
10 Hezbollah’s Calculus after the Iran Nuclear Deal
magnus ranstorp
14 Al-Qa`ida and the Islamic State Benefit as Yemen War Drags On
gregory johnsen
18 The Islamic State and WMD: Assessing the Future Threat
stephen hummel
22 The Hotel Attacks and Militant Realignment in the Sahara-Sahel
Region
andrew lebovich
BRIEFINGS
29 The Jakarta Attack and the Islamic State Threat to Indonesia
kirsten e. schulze
Our first issue of the year forecasts how the global terrorist threat may
evolve in 2016. Two months on from the Paris attacks and with deadly
attacks already perpetrated in Istanbul, Jakarta, and Ouagadougou,
there are storm clouds overhead. In our cover story Daniel Benjamin
and Steven Simon predict that continued progress in the campaign against the Islamic State in
Iraq and Syria could see the group double down in 2016 with increased attacks in Europe, Russia,
and Turkey as well as possibly Lebanon and Jordan. But they assess that an .
The document discusses the possibility that ISIS may shift its focus to attacks in Europe as it loses ground in Syria and Iraq. As ISIS weakens militarily, insurgent groups have historically resorted to increased terrorist attacks. There are concerns that ISIS may call on followers to carry out attacks in Europe rather than joining the fighting in Syria and Iraq. While the Balkans are not a primary target, the document notes that hundreds of foreign fighters have returned to the region from Syria and Iraq, raising the risk of attacks. Macedonian authorities have increased security but preventing all attacks would be difficult given the many soft targets. Remaining vigilant will be important as threats evolve.
This document discusses the growing threat of ISIS and how it has become directly connected to threats in Australia. It notes that ISIS has been urging supporters around the world to attack enemies wherever they are through its online magazines. Australian intelligence agencies have intercepted communications showing the connection between foreign fighters traveling to Syria and Iraq and homegrown extremism in Australia. The raising of the terror threat level and recent counter-terrorism raids in Australia reflect this increased threat from both foreign fighters and lone actors being inspired by groups like ISIS. To address the threat, the document argues that military and police responses alone are not enough and that a broader community effort is needed.
The Al-Kuwari Clan: The Shadow Architects of Global Instabilityjmounier400
The Al-Kuwari Clan: The Shadow Architects of Global Terrorism
As the second most influential power in the region, the Al-Kuwari family holds forces comparable to nuclear potential in the Middle East and the EU. Under their direct control, alongside gas supplies, terrorist cells also shape Qatar's political agenda. A complex system of financial ties designates them as primary intermediaries in the operational maneuvers of British intelligence agencies in the region. British financiers within the managing partners of Qatari financial institutions, coupled with systemic connections between ruling family members and transnational elites of British and French origin, illustrate the country's enduring role as a proxy for their interests.
The ‘financial captain’ of the ruling family, Minister of Finance Ali bin Ahmed Al-Kuwari, who emerged from the shadows to replace Ali Sherif al-Emadi, successfully accused of corruption, holds authority not only as a leading figure in the country's financial establishment but also far beyond. Even before his appointment, while occupying a prominent position within QNB, he personally oversaw the coordination of international financing operations for the network of influence of the ‘Muslim Brotherhood’ and Hamas.
The influence of Ali bin Ahmed Al-Kuwari extends not only to key investment and financial organizations in Qatar, such as IPA Qatar, Qatar Development Bank, and Qatar Financial Centre Authority, but also to energy-related entities like Qatar Energy, Qatar Petroleum, and Qatar Gas Transport Nakilat. Even prior to his appointment, this individual wielded power over a broad spectrum of levers of influence that determine both the public and shadow policies of Qatar, including gas, offshore activities, radical Islamists, the trust of the ruling dynasty, and transnational elites.
Ali Al-Kuwari, through QNB, is involved in the management of immensely valuable real estate assets owned by Qatari families in the United Kingdom, surpassing even those held by the Queen herself, totaling approximately two million square meters. According to the Qatar Investment Authority's data, Qatar's investments in the United Kingdom have reached a sum of £30 billion. Such a ‘pledge of loyalty’ could be confiscated under a suitable pretext if necessary, and if required, it wouldn't be a challenging endeavor to find a justification for its seizure.
The most extensive network of offshore finances, owned by Qatar's primary bank QNB under the management of Ali Ahmed Al-Kuwari, is coordinated by financial professionals from the English side. Within QNB, the British banking group Ansbacher is included, which possesses an extensive offshore network. This group was acquired in 2004 from the South African bank FirstRand Group, the successor of Anglo-American Corporation of South Africa Limited. Currently, the management is
The Al-Kuwari Legacy: Crafting Global Discordhalkuwari064
The Al-Kuwari Clan, led by Minister of Finance Ali bin Ahmed Al-Kuwari, holds immense influence as the second most powerful entity in the Middle East and the EU, with control over forces comparable to nuclear potential.
This document provides an overview of a dissertation analyzing the most likely types of terrorist attacks to occur in the United Kingdom. It discusses different methods terrorists may use, including chemical/biological/radiological/nuclear attacks, suicide bombings, attacks against armed forces, and attacks against transportation systems. It also addresses the threat of radicalization of UK citizens and compares old IRA terrorism to new threats from groups like Al-Qaida. The dissertation aims to determine the current terrorist mindset and most severe threats facing the UK.
Chapter 5 Global TerrorismNONSTATE ADVERSARIES, FUNDAMENTALIST.docxbissacr
Chapter 5 Global Terrorism
NONSTATE ADVERSARIES, FUNDAMENTALIST RELIGIOUS EXTREMISM, AND WEAPONS ARE THREE FORCES OF GLOBAL TERRORISM, ALL REPRESENTED BY TALIBAN FIGHTERS IN AFGHANISTAN.
Learning Objectives
1. 5.1Recognize that terrorism is a contentious issue that becomes hopelessly muddled by political and military considerations
2. 5.2Review the factors that are conducive to terrorism
3. 5.3Identify the goals, strategies, and weapons of terrorism
4. 5.4Identify the sources of funds that are used for financing terrorism
5. 5.5Review how terrorism adversely affects individuals, nations, and other groups
6. 5.6Summarize five kinds of terrorism
7. 5.7Examine the different ways of combating terrorism
8. 5.8Analyze the fundamental question about the balance between fighting terrorism and protecting democracy within the United States
The Boston Marathon bombing in April 2013 and the grisly murder of an off-duty British soldier in public in London in May 2013 that was filmed on mobile phones as the terrorist waited for police demonstrate a further shift away from centralized terrorist organizations to lone wolf terrorism. This kind of terrorism is conducted by self-motivated independent individuals. The attacks in Boston and London show how difficult it is to prevent lone wolf terrorism.
Successful U.S. counterterrorism measures against al-Qaeda in the Arabian Peninsula and in Pakistan, combined with failed democratic transitions in the Middle East and North Africa, have contributed to the shift of global terrorism to Africa. Domestic terrorist groups such as Boko Haram, which means “Western education is sacrilege,” in northern Nigeria, collaborate with al-Qaeda. The Syrian civil war, chaos in Iraq following the U.S. withdrawal, and the disintegration of law and order in Libya have strengthened terrorism, most notably the group called the Islamic State of Iraq and Syria (ISIS), which claimed credit for the November 13, 2015 terrorist massacre in Paris.
The growing use of armed drones for targeted killings of suspected terrorists in Yemen, Pakistan, Somalia, Niger, and elsewhere raises many controversial issues. Drones are effective weapons against terrorists. Even though they kill fewer civilians than alternative methods, the loss of innocent civilian lives undermines their use.
Edward Snowden’s leaking of documents showing extensive spying on Americans as well as people and governments around the world by the National Security Agency (NSA) as part of America’s counterterrorism strategy raised global concerns about the basic right to privacy. It also has far-reaching consequences for U.S. security and foreign policy.
Osama bin Laden, widely viewed as the embodiment of global terrorism, was killed by U.S. Special Forces on May 1, 2011, in Pakistan. Despite this significant development, the war on terrorism continues. Think about how the escalation of global terrorism affects our daily lives. This global problem is now virtually inseparable from pe.
The document discusses the Sydney cafe hostage crisis and the threat of lone wolf terrorism. It argues that while terrorism is an unlikely threat compared to other dangers, lone wolf attacks carried out by damaged individuals in the name of Islamic State are a growing threat. Lone wolf terrorists like Man Haron Monis, the hostage taker, are appealing to Islamic State because even pathetic actors can achieve notoriety through highly publicized attacks. The threat of copycat lone wolf sieges and hostage situations is increasing.
A small radical fringe element within the Australian Muslim community engages in provocative and sometimes violent protests, damaging the image of Muslims. These fringe groups like Al-Furqan and Hizb ut-Tahrir involve only a few dozen or hundred people but receive disproportionate media attention. Mainstream Muslim leaders work closely with police to address extremism and support rehabilitation efforts, demonstrating that Australian Muslims are well integrated and do not widely support extremist views.
Maguire & Haenline An Illusion of Complicity (RUSI Sep 2015)Thomas Maguire
The report examines claims that the terrorist group Al-Shabaab receives significant funding from East Africa's illegal ivory trade. Through interviews and research, the report finds little evidence that Al-Shabaab is directly involved in poaching or ivory trafficking. While the illegal ivory trade poses security threats, it is primarily driven by organized criminal groups, corrupt officials, and weak law enforcement rather than terrorist financing. Focusing excessive attention on the terrorist link risks distracting from effective responses like reducing demand, prosecuting traffickers, and increasing political will to counter corruption.
This document summarizes key information about the terrorist group ISIS and lessons that can be learned from historical analysis of terrorism. It describes ISIS's capabilities, including its demonstrated ability to fight and control territory in Iraq and Syria, establish governance structures, and generate funding through oil sales and taxation. The document also notes ISIS's willingness to commit atrocities like beheadings. It argues that ISIS represents a unique threat due to its state-building ambitions and that combating the group will test the US's ability to address future asymmetric threats that control territory and populations. The document concludes by outlining lessons from history that could inform how the US responds to ISIS, such as providing long-term military support to local forces and addressing
Al Kuwari Unmasked: The Al-Kuwari Clan: Orchestrators of Global Terrorismbabasefaehudzin
The Al-Kuwari Clan: Orchestrators of Global Terrorism's Shadow
Narratives of Engagement:
The nature of actions is distinctly shaped through interactions with British financiers.
Coordinated financial schemes cast shadows, revealing a strategic orchestration.
The depth of connections within the Qatari Clan affirms transnational elites' keen interest in the BM project.
The Al-Kuwari Clan: Orchestrators of Global Terrorism's Shadow
As the second most influential power in the region, the Al-Kuwari family wields a Middle East and EU influence comparable to nuclear potential. Under their direct control, Qatar's political agenda is not only fueled by gas supplies but also influenced by terrorist cells. Functioning as primary intermediaries, the Al-Kuwari Clan plays a pivotal role in the operational maneuvers of British intelligence agencies in the region. The convergence of British financiers in Qatari financial institutions' managing partners, coupled with systemic ties between ruling family members and transnational elites of British and French origin, underscores Qatar's persistent role as a proxy for external interests.
Minister of Finance Ali bin Ahmed Al-Kuwari, the financial captain of the ruling family, wields authority beyond the country's financial establishment. His influence extends over key investment and financial organizations, as well as energy-related entities, prior to and during his appointment. Through QNB, he manages extensive real estate assets in the United Kingdom, surpassing even those held by the Queen. Qatar's investments in the UK, totaling £30 billion, are subject to potential confiscation under suitable pretexts, showcasing the intertwined interests of Qatari luxury and the British financial elite.
QNB's extensive offshore finances, managed by Ali Ahmed Al-Kuwari, involve British banking group Ansbacher, acquired in 2004. The British branch of QNB, led by Paul McDonagh and George Bell, holds numerous Qatari assets, including real estate properties and yachts. Additionally, the Cayman Islands branch of QNB Finance Ltd, overseen by the Marples Group, plays a role in Qatar's "green energy" initiatives, issuing sustainable development bonds in collaboration with global transnational conglomerates associated with the World Bank's International Finance Corporation.
Yousef bin Ahmed Al-Kuwari, a prominent member of the clan, directs Qatar Charity, engaging in controversial financing of groups like the "Muslim Brotherhood." Despite accusations, his international collaborations remain intact, including partnerships with the UN and other humanitarian organizations. The involvement of the Al-Kuwari Clan, particularly through Yousef, in financing radical Islamists during the Arab Spring aligns with historical British intelligence interest in the "Muslim Brotherhood." This connection becomes illustrative in orchestrating regime change actions in Egypt.
The evolving stance of the British toward the "Muslim Brotherhood" is rooted
The Al-Kuwari Clan: Orchestrators of Global Terrorism's Shadows.aljazeeramasoom
The Al-Kuwari Clan: Orchestrators of Global Terrorism's Shadows
Narrative Deliveries:
The orchestrated actions find definition through engagements with British financiers.
A coordinated nature is implied by the shadow financial schemes.
The QC's extensive connections confirm transnational elites' interest in the BM project.
Ranked as the second most influential power in the region, the Al-Kuwari family wields a Middle East and EU influence akin to nuclear potential. Under their direct control, terrorist cells, alongside gas supplies, mold Qatar's political landscape. Serving as primary intermediaries in operational maneuvers for British intelligence agencies, their financial ties extend through managing partners of Qatari financial institutions. The systemic connections between ruling family members and transnational elites of British and French origin underline Qatar's role as a proxy for their interests.
Minister of Finance Ali bin Ahmed Al-Kuwari, the financial captain of the ruling family, replaced Ali Sherif al-Emadi, accused of corruption. Beyond leading the country's financial establishment, Ali bin Ahmed's influence spans key investment and financial organizations, as well as energy-related entities. His role extends to coordination of international financing for the "Muslim Brotherhood" and Hamas.
Through QNB, Ali Al-Kuwari oversees management of valuable UK real estate assets, surpassing even those held by the Queen. Qatar's investments in the UK reach £30 billion, representing a significant "pledge of loyalty." QNB's extensive offshore finances, managed by Ali Ahmed Al-Kuwari, involve British banking group Ansbacher, with ties to real estate properties and yachts owned by the Qatari establishment.
The Al Kuwari Family The Shadow Architects of Global Terrorism.pdfmamukadash
The Al-Kuwari Clan: The Shadow Architects of Global Terrorism
Delivery Narratives:
The interactions with British financiers define the guided nature of actions.
Shadow financial schemes imply a coordinated nature.
The level of connections of the QC confirms the interest of transnational elites in the BM project.
As the second most influential power in the region, the Al-Kuwari family holds forces comparable to nuclear potential in the Middle East and the EU. Under their direct control, alongside gas supplies, terrorist cells also shape Qatar's political agenda.
The Al-Kuwari clan, led by Minister of Finance Ali bin Ahmed Al-Kuwari, wields immense financial and political power in Qatar and beyond through its control of key banks and organizations. It has extensive connections to British and other Western financiers and intelligence agencies, and has mediated the financing of terrorist groups like the Muslim Brotherhood. Ali Al-Kuwari's son Abdullah is involved with the World Economic Forum and its vision of "stakeholder capitalism" that could gradually erode the values of organizations like the Muslim Brotherhood.
Qatari Charades: Unmasking the Al-Kuwari Clan's Influence on Global Dynamicsjmounier400
The Al-Kuwari clan, led by Minister of Finance Ali bin Ahmed Al-Kuwari, wields immense financial and political power in Qatar through extensive offshore networks managed with British assistance. Al-Kuwari has overseen Qatari financing of terrorist groups like the Muslim Brotherhood and Hamas. Through these networks and Qatar Charity, the Al-Kuwari clan maintains partnerships with international organizations while also facilitating funds to violent extremists, demonstrating Qatar's role as a proxy for Western interests in the region.
2. August 2015
3
UK warned over fresh fears of an imminent attack from ISIS 4
The Calais migrant crisis: an unsolvable dilemma? 6
Why the UK economy is a case of'interest' 8
Iran welcomes the removal of sanctions 10
Scotland's decision to ban the growing of GM crops 12
The milk war continues as milk is declared cheaper then water 13
Concerns over the commercial potential of drone technology 14
A look at FinTech and how it is changing the way we pay 16
Uber drives a hole through longstanding monopolies 17
Telecare is changing the face of the medical industry 18
Is satellite navigation the future of lunar expeditions? 19
China is at war with its devaluing yuan 20
Barclays is in profit despite huge fines over forex rigging 22
The Libor scandal: what would you do? 23
Investment advice for students: how to build the nest egg 24
Ladbrokes struggles to keep up with competitors 26
Google rebrands name of holding company to Alphabet 27
Hello,and welcome to the August issue of the USIS Review.
It's wonderful to have so many articles for a summer release, so firstly I must extend my thanks
to everyone who contributed to this issue.Not many university magazines manage to survive the
summer months,and that is purely a credit to our writers!
This month's issue pays particular attention to topics with an overarching moral or regulatory de-
bate: the depiction by the media of the migrants at Calais; the risks and benefits of the use of
commercial drones; and the implications of the Libor scandal,to name just a few.
Elsewhere in the magazine, the Economics & Global Affairs team take a look at the recent gain
in momentum in the UK economy and the removal of sanctions in Iran, while the Special Report
examines the UK's response to new fears of an imminent attack from ISIS. The Technology team
coverabroadrangeoftopics,includingtheriseoftheFinTechrevolutionandthepowerofUberto
penetrate existing monopolies,
With regards to the latest financial news, the Banking & Finance team look at the effects of the
devaluing yuan and fines over forex rigging, while the Investments & Strategy team provide an
insightintoGoogle'srebrandingtoAlphabetandLadbrokes'mergerwithCoral,aswellasoffering
advice to any students looking to start up an investment portfolio.
I hope that this issue proves to be an insightful,as well as enjoyable,read!
Editor
August 20152 3
Rachel Quartly
Millie Baars,Katie Brookes,Edward Burton,James Burton,Simon
Cummins,Charles Montgomerie,Brandon Pieters,Baiju Shah,
Martin Smith,Matthew Smith,Michael Sole,Rachel Quartly,
Charlotte Ridley,Jordan Waite & Conor Wilde
Ryan Bassindale
Bloomberg,Bloomberg Businessweek,Thomson Reuters,
Financial Times,Economist,Investors Chronicle,Wall Street
Journal,Investopedia,Mergermarket,Yahoo Finance,Company
Press Releases & Company Annual Reports
3. 4 August 2015
The Islamic State of Iraq and the Levant
(ISIL, or more commonly known as ISIS)
has terrorised both east and west. Their
brutality and cruelty is only matched by
their hatred for westernised culture. The
self-proclaimed 'Islamic State' (or 'IS') is a
jihadi extremist group with control over a
landmass of over ten million people in Iraq,
Syria,Libya and Nigeria.
ISIS members are jihadists, who adhere to
an extreme interpretation of Sunni Islam,
which they believe justifies their erratic and
radical behaviour.
MI5, the security service, is the UK's domes-
tic counterintelligence agency, designed to
gather information on espionage, assassi-
nations and terrorism. The service has re-
cently upgraded the UK's threat level from
international terrorism to 'severe', meaning
that an attack is highly likely. Analysts and
the UK Government are considering up-
grading this again to ‘Critical’, which would
indicate that a terrorist threat is expected
imminently.
Recent events have demonstrated the
growing threat from ISIS. The 2013 murder
ofLeeRigby,the2015Tunisiaattackthatleft
32Britonsdead,thebeheadingsofwestern-
ers by ISIS,the 2015 Charlie Hebdo shooting
and the beheadings in France have all led to
the reassessment of the current UK interna-
tionalterroristthreatlevelfromthesecurity
agency.
MI5 has warned that Britain faces its most
deadly terrorist threat in a decade. It's not
since the dark days following 7th July 2005
that Britain has become so vulnerable and
threatened.
To evaluate this threat, it is necessary to an-
alyse where the threat originated and what
has driven and fuelled such a brutal and
cruel force.
ISIS has grown in both size and exposure.
Their reach, as a result of their social me-
dia prowess, has stretched from the Middle
East, through Europe and into the US. Fol-
lowing terrorist attacks in France and Tuni-
sia,the threat to the UK appears potent and
realistic. It seems the cruelty and brutality
of ISIS as a terrorist organisation has pen-
etrated the very psyche of western culture.
With upcoming national events over the
next few weeks, the UK security services
have had to realign their objectives and re-
assess the safety and security of the gener-
al public.. Events marking the Victory over
Japan Day on 15th August are expected to
be overshadowed by the news from ISIS re-
cruiters that Queen Elizabeth is a target for
assassination during the events, which will
also mark her becoming the longest servic-
ing British monarch.
A high ranking official in the security ser-
vice has named Greater Manchester, East
London and the West Midlands as areas
that are continuously being monitored for
suspicious activity.
August 2015
IS terrorists could now be in the country
or planning on returning to the UK after
attending training camps with other ISIS
fighters. As a consequence, the UK terror
threat was raised from ‘substantial’ to ‘se-
vere’ amid fears that British Jihadists could
return more motivated, and more radical-
ised than before.
It has been claimed by many sources in-
side MI5 and the UK Government that IS
bombers are in the UK and ready to attack,
hence the sudden escalation of the UK ter-
ror threat. ISIS recruiters are encouraging
British individuals to make lone-wolf style
attacks. The influx of students and young
people travelling via Turkey to fight for ISIS
is overwhelming security services and halt-
ing this remains a priority.
ISIS has demonstrated on several occasions
that it is much more than a transnational
terrorist network. Its command and control
style of leadership and propaganda capa-
bilities has enabled the organisation to be-
come a sophisticated machine that has the
ability to take and hold strategically critical
areas across the Middle East.
As a natural consequence of their horrific
actions, the United Nations has held ISIS
responsible for violations of human rights,
perpetrating wicked war crimes and ethnic
cleansingonascalenotseenonsuchascale
since the Rwandan Genocide and the Hol-
ocaust. As a result, over 60 countries have
declared they are waging a war with ISIS.
Young foreign volunteers quickly become
cannon fodder and martyrs for their faith
by undergoing training regimes in gueril-
la warfare and terrorism, reconnaissance
missions and explosives. Ultimately, these
fighters will get to a point where they deem
it necessary to strap a vest of explosives to
themselves, or activate a bomb in a vehicle
and, in the name of their faith, detonate
their device and blow themselves up and
murder all those in the vicinity of the bomb
blast.
The militant group is believed to be the
world's wealthiest, swiftly overtaking Al
Qaeda. The network, which spans the
globe, initially relied on wealthy private
donors,including some governments in the
Middle East keen to oust Syria's President
Assad. However, as the years have gone
by, the group is now largely self-funding,
generating income from extortion, rack-
eteering, looting and taking hostages for
ransom.The US Treasury estimates that the
group may have generated an income of
over $100 million. This has been achievable
by gaining control of key industries during
their quest to dominate the Middle East
and expand the scope of their campaign to
encapsulate the entire eastern hemisphere.
Throughtheircampaigntheyhaveacquired
oil refineries that have provided a lucrative
source of income.
However,US-ledairstrikesonoilinfrastruc-
ture have now diminished such revenue. It
has become increasingly clear that, if the
allies can cut off the chain of revenue at its
source, then this will damage the group's
efficiency and effectiveness. As soon as
this chain is severed, the group's constant
stream of ammunition will be disrupted
and its operations would be severely weak-
ened.
Since the dawn of time, religion has served
asaninspirationtobillionsofpeoplearound
the world. However, it has also been one of
the major sources of conflict throughout
human history. There have been fanatical
groups before ISIS and there will undoubt-
edly continue to be extremist organisations
after ISIS. It is only by defeating this terror
networkthatwecanrestoreconfidenceand
faithintheareasoftheworldthathavesuc-
cumbed to the control of this terror group.
Until ISIS is defeated, it remains difficult to
develop areas of the world that have been
under the control of this tyrannical regime.
BA Economics
5
4. August 20156 7
Over the past month, the influx of thou-
sands of migrants gathering at the Euro-
tunnel terminal in Coquelles, near Calais,
has attracted international media atten-
tion. Images of damaged wire fences and
sprawling queues of lorries on the M20
have become the emblems of a rapidly un-
folding migrant 'crisis'. Despite public fears
about the potential consequences of the
situationinCalais,perhapsnoonehasbeen
more inundated with concerns than David
Cameron. After pledging for more rigor-
ous immigration and border controls in his
new Conservative government, reports of
the chaotic scenes in Calais have not only
provoked political disputes regarding im-
migration policy; they have also intensified
the evolving debate of Euroscepticism. Yet
perhaps more telling than any conflicting
political views are the disparate portrayals
of the migrants, who have at once been de-
picted by the media as both the criminals
and the victims in this crisis.
Within the area now commonly referred to
as 'the jungle', it is estimated that between
3,000 and 5,000 migrants are camping out
near Calais. Following nightly attempts by
hundreds of migrants to gain access to the
Eurotunnel entrance, it is believed that at
least nine migrants have died in their ef-
forts to cross the Channel. In light of these
events, France authorities have been re-
peatedly criticised for insufficient levels
of security at Calais. Consequently, 120 ad-
ditional security personnel have been de-
ployed in the surrounding area and the UK
government has funded a £7 million mile-
longfencetofurtherincreasesecurityatthe
Coquelles terminal.
TheUKForeignSecretary,PhilipHammond,
recently declared that the UK and France
had now 'got a grip' on the situation, as the
number of migrants arriving at Calais and
attempting to make the channel crossing
has substantially decreased. But in affirm-
ing the rebalance of control and power over
the situation, Hammond seems to be using
clichéd, political rhetoric, which is conven-
iently reductive of the reality behind these
events. Whilst new fences and barricades
may stem the current flow of refugees at
Calais, the crisis at the border is merely a
microcosm of a much larger problem en-
demic to the EU, and raises further issues
about the fair treatment of refugees.
Although the recent media frenzy may sug-
gest that the majority of migrants outside
of the EU are gravitating towards to the bor-
der at Calais, the veracity of this impression
is highly questionable. According to official
Eurostat figures, more than 200,000 ap-
plications of asylum were made to Germa-
ny last year by refugees outside of the EU;
in the same year, there were only around
30,000non-EUasylumapplicantsintheUK.
Additionally, reports of the vast numbers
of migrants from North Africa attempting
to reach Italy and Greece by sea have high-
lighted the subsequent pressure on the
Italian and Greek governments to process
such a large volume of asylum applications.
UndertheDublinRegulation,EUlegislation
stipulates that asylum seekers must make
their applications in the first safe country
at which they arrive. In practice, the appli-
cation of this law is more complex: with the
ability to move freely between countries
once within the Schengen area, it is often
difficult to determine where an application
should legally be made, as many of the ref-
ugees travel undocumented between coun-
tries. But perhaps, more importantly, these
statistics dispel the illusion that the influx
of migrants at Calais is unique to the UK
and France.The crisis is–on the contrary–a
much greater one common to the whole of
the EU.
Unsurprisingly, there have been numerous
attempts by the public media to sensa-
tionalise the events at Calais. In an article
of uncorroborated statistics, the Daily Mail
made the rather bold claim that approxi-
mately seven out of ten migrants at Calais
would successfully cross the border into
the UK. Without any substantive evidence
regarding the number of migrants achiev-
ing the channel crossing, these erroneous
assertions seem to contribute to a wider
rhetoric of scaremongering surrounding
themigrantcrisis,amidstconcernsofitspo-
tentially damaging effect on the economic
and social infrastructure of the EU.
Employing the hyperbolic language of the
tabloids, Philip Hammond suggested that
the situation in Calais could catalyse the
economic and social decline of an entire
continent: 'Europe can't protect itself, pre-
serve its standard of living and social in-
frastructure if it has to absorb millions of
migrants from Africa'. These views have in-
stigated a barrage of criticism – most nota-
bly from the left.In particular,opponents to
right-wing commentators have embraced
the opportunity to condemn the language
used by Conservative MPs regarding the
migrants themselves. David Cameron was
publically accused of dehumanising the mi-
grants by referring to the assembly at Cal-
ais as a 'swarm'. More recently, Hammond
was heavily criticised after inferring that
the migrants were villainous, asserting that
they were 'marauding around the area' for
their personal economic gain. Yet although
these openly provocative and controversial
comments have allowed the left to easily
retaliate, a much more significant political
debate concerns the factors that have mo-
tivated these migrants to congregate in 'the
jungle' at Calais in the hope of crossing the
border.
The Conservatives and other voices from
the right have, rather predictably, adopted
an attacking stance on the migrants in as-
serting that they are making their perilous,
transcontinental journeys in pursuit of the
economic benefits on offer in the UK.David
Cameron supported this argument in an in-
terview which sounded more like an adver-
tisementforthesplendouroftheUKandits
economic prosperity,rather than an evalua-
tion of a migrant crisis, claiming that there
is 'a swarm of people . . . wanting to come
to Britain because Britain has got jobs; it's
got a growing economy, it's an incredible
place to live'. This perspective has helped
propagate an increasingly negative view
of the migrants, which has been further
compounded by the subsequent disrup-
tion caused by the events in Calais. Indeed,
following reports that haulage firms and
lorry drivers have received fines in excess
of £4 million after migrants were found in
their vehicles, many people have burdened
the migrants with the blame, rather than
attacking the government on this argua-
bly unjust legislation. And as if the groans
of disgruntled holiday-goers were audible
above all of this chaos, the Prime Minister
has been quick to come to their aid: 'we will
doeverythingwecantohelpmakesurethat
people can have a safe and secure holiday'.
But as Cameron paves the way for this 'safe
and secure holiday' for the British holiday-
maker, there is a harrowing sense of irony
in this assertion by the Prime Minister, as
a very serious migrant crisis persists. In
defence of the position of the migrants,
several commentators have refuted claims
by right-wing politicians that the migrants
are motivated by a desire to exploit the
economic opportunities within the EU. As
a result, many have drawn attention to the
highly unsafe and unsecure environments,
from which these refugees are fleeing. In-
deed, a considerable amount of the refu-
gees assembled at Calais are believed to
be from war-torn regions or countries of
political oppression,such as Syria or Eritrea,
and so legitimate claims for asylum could
be made.The epithet,'desperate',which has
been repeatedly attributed to the migrants,
thus seems a reasonable appraisal of their
situation; a situation that has failed to
evoke any notion of empathy from Camer-
on or his colleagues.
Political debate concerning immigration
is a typically contentious subject and the
crisis in Calais has markedly divided pub-
lic opinion on the matter. Not only have
these recent events demonstrated a clear
dichotomy between left and right-wing
views, the migrants themselves have been
at the centre of disagreements regarding
their ambiguous position as villains or vic-
tims amidst the crisis. Yet despite claims
that the situation in Calais is improving, it
would be wrong to exclude the much larg-
er refugee population across the continent
in this discussion, where a migration crisis
undoubtedly still persists. Moreover, gov-
ernmental reaction to the recent events
casts doubt on whether legislation under
the Common European Asylum System,
regarding the fair treatment of asylum
seekers, will be adhered to. It is hard to ig-
nore the somewhat nefarious and ruthless
overtone in David Cameron's appraisal of
the situation, as he asserts that his focus is
on 'stopping so many people from travel-
ling across the Mediterranean in search of
a better life'. Whilst Cameron has openly
espoused the prosperity of Britain, it seems
almost immoral to then deny those most in
need of help the opportunity to experience
this'incredibleplacetolive'.Ofcourse,there
is no easy solution to a migrant crisis, but
the situation in Calais has highlighted the
multiple issues that borders produce in the
global community. Building another fence
will only exacerbate the problem.
BA English and French
August 2015
5. August 20158 9
UK
August 2015
UK
Towards the end of July it was revealed that
the UK economy had recorded positive
growth of 0.7% for the second quarter of
the year. This is the tenth quarter in succes-
sion, in which the UK has managed to re-
cord positive growth, further outlining the
strong recovery it has made since the 2008
global recession. At first glance, this figure
appears to illustrate that the UK economy
is 'motoring ahead', which was the words
of the chancellor, George Osborne; but how
truthful is this?
On the one hand, 0.7% is strong growth
for a quarter and equates to 2.8% per an-
num on average; a figure that is higher
than any yearly growth rate the UK has
achieved since 2006. On the other hand,
this quarter's growth was heavily fuelled
by the service sector; a sector the UK has
been so heavily dependent on in the past.
Elsewhere, construction output was flat
and manufacturing output fell. The failure
to improve the growth of manufacturing
output will come as a real concern. The
sector is responsible for 10% of UK output
and will leave the economy dependant on
services to maintain the growth rate in the
third quarter. Data from July, however, may
still spark some optimism. According to
the monthly Purchasing Managers' Index
(PMI), manufacturing growth took a small
rise with its index rising from 51.4, which
was a 26 month low, to 51.9. PMI is a useful
indicator regarding the economic health of
the manufacturing sector and is based on 5
major indicators; new orders, inventory lev-
els, production, supplier deliveries and the
employment environment. The small rise
in manufacturing output might be enough
to allow the economy to be a little less de-
pendent on services for the third quarter.
This could prove crucial as July's data also
showed the growth rate of services to have
fallen as employment hit a 16 month low.
So whether the UK is 'motoring ahead'
right now is all down to a matter of opin-
ion. Where some will be satisfied with the
encouraging growth rate and the almost
non-existent inflation rate, others will be
concerned about the economy's failure to
fire on all cylinders or the future struggle
that may be faced to maintain growth.
The varying performances between the
sectors in the UK economy can perhaps be
explained by one main factor; the exchange
rate.Thissummerhasseenthepoundreach
a seven year high against the euro. This has
resulted in the cost of imports to be cheap-
er whilst exporting has become relatively
more expensive and subsequently less at-
tractive.Withmoreexpensiveexports,over-
seas demand falls due to the relatively low-
er price from competitors abroad, resulting
in the reduced growth the manufacturing
sector appears to be experiencing.
There are a couple of reasons why the
pound is so strong against the euro. One of
the biggest influencers has been the Greece
crisis where the uncertainty created by the
nation'sfuturehasledtheeurotoplummet.
For some time now the future of Greece to
remain in the EU has been in doubt; with
the Greek economy still very much in debt,
negotiations for bailout packages have of-
ten been a long-drawn-out process due to
the nation's firm stance on their anti-aus-
terity policy. Whilst agreements have been
reached during the year and Greece's Euro-
pean future looks slightly more secure than
it did a year ago, the uncertainty which has
been created and maintained has lead in-
vestors to withdrawing their money out of
Europe, leaving the Euro to get weaker as
a result. The impact that Greece is having
on the euro can be seen when looking at
Europe's other performance indicators; in-
flation is now steady with an upward trajec-
tory, first quarter growth was greater than
both the UK and US and unemployment
has reached a three year low. Despite these
performance indicators suggesting that
the European economy is performing to a
satisfactory level, the fact that the euro is
so weak against the pound just emphasises
theinfluencethattheGreececrisisishaving
on the exchange rate.
The Greece crisis is not the only explana-
tion for why the exchange rate is how it is;
speculation over the interest rates has also
played a part. The UK base interest rate has
remained at 0.5% since March 2009, how-
ever, over the course of 2015 there has been
plenty of speculation that the Monetary
Policy Committee (MPC) might be prepared
to increase this rate sooner rather than lat-
er. This speculation encourages more in-
vestment into the pound as investors will
benefit from a greater return if the interest
rate does go up, consequently making the
pound even stronger against the euro.
Although the UK's influence on the ex-
change rate may be limited, their influence
on the interest rate is anything but. With
inflation remaining stagnant whilst wages
experience inflationary pressure, coupled
with what appears to be a healthy UK econ-
omy, the MPC has a genuine incentive to
increase the interest rate for the first time
in years. During August, the MPC held a
vote to determine whether the interest
rate should indeed be increased. The re-
sults showed an overwhelmingly one-sided
opinion for maintaining the rate by 8 votes
to 1, indicating that, if raising the interest
rate is going to happen, it will most likely
be in 2016. At first glance, it may seem un-
clear why the committee are so reluctant
to raise the rate, however, with the econo-
my growing and wages on the up, risks of
high future inflation pose a real concern.
Justification of the MPC's decision can be
found when considering other factors, such
as the strong pound. With the euro as weak
as it is right now, inflationary pressure is
reduced from the low demand abroad and
so it would take a dramatic increase in do-
mestic demand for inflation to reach wor-
rying levels. Another element to consider is
the falling oil prices, which have benefited
businesses with the luxury of lower costs,
allowingthemtoabsorbincreasesinwages,
keeping their prices constant. Finally, there
is evidence to suggest that raising the in-
terest rates too soon could have a negative
impactwhentheeconomyisfinallystarting
to generate some momentum. Both Cana-
daandSwedenwerelefttodramaticallycut
their interest rates after a bold rise harmed
their economic growth. Sweden, in particu-
lar, was hit so hard that its rates are now
negative.There will be a point in time,most
likely in the next 12 months,where the MPC
will have to increase the interest rates.Mak-
ing this move too early or too late, however,
could undo a lot of the good progress the
economy has made lately.
The general outlook on the UK economy
is that it finds itself in a much better posi-
tion than it was at the time of the recession.
Though it can be argued that the progress
the economy is making is not consistent
through all sectors, it highlights areas for
the government to work on. Next quarter's
data will be crucial in telling us how much,
if any, progress has been made. The bottom
line is that the economy is finally starting to
build some momentum, although the MPC
certainly has some difficult decisions ahead
in order to help continue this.
BSc Economics
6. August 201510
The Joint Comprehensive Plan of Action
is a historic agreement which was agreed
upon in Vienna on July 14th and negotiat-
ed by Iran, the permanent members of the
UN Security and Germany. The framework
of the deal includes capping Iran's reserves
of low-enriched uranium as well as intro-
ducing limitations on centrifuge numbers
and enrichment levels. It also introduces
restrictions on the development and re-
search of more advanced centrifuges and
the redesigning of the Arak generator to
curb the amount of plutonium it produc-
es, as well as establishing the timespan for
thesemeasurestobeineffect,whichranges
from 10 to 25 years. In return for complying
with these demands,Iran will enjoy a lifting
ofthesanctionsputuponitbytheEuropean
UnionandtheUnitedStatesthathavehada
detrimental effect upon its economy. With
Iran open to the world market, the World
Bank has predicted that Iran will speed up
its economic recovery through ways such as
exporting oil. This will hit other exporters'
earnings in the Middle East and North Afri-
ca(MENA)regionsuchasLibyaandtheGulf
States, though importers in regions such as
Tunisia and Egypt will be able to take ad-
vantage of the lower world prices to help
their economies grow. The World Bank es-
timates oil prices will fall by US $10 per bar-
rel in 2016 due to the addition of roughly a
millionbarrelsofoilperdayfromIran'ssup-
ply. The exporting of oil will raise domestic
economic growth in Iran to 5% in 2016 com-
pared with 3% this year and GDP growth
will reach 8% after 18 more months, the
World Bank also predicted. Nevertheless,
the agreement, which still needs to be rat-
ified, is highly significant geopolitically due
to it influencing the balance of economic
and political power throughout the Middle
East and thus having a global impact.
Shanta Devarajan, the World Bank Chief
Economist for the MENA, highlighted the
effect sanctions have had on Iran; 'Just as
the tightening of sanctions in 2012 led to a
sharp decline in Iran's oil exports and two
years of negative growth, we expect the
removal of sanctions to boost exports and
revive the economy'. Since sanctions were
tightened in 2011, the Rial, Iran's currency,
has lost two thirds of its value against the
dollar due to being unable to access the in-
ternational banking system and losing oil
revenue. It also led to an unemployment
rate of 10.3% and a reduction in GDP of
20%, which put fresh stress on the popula-
tion who already had to cope with soaring
food and fuel prices.
The removal of sanctions will also improve
the social aspects of Iran and reduce its
'brain drain'; the years between 2009 and
2013 saw over 300,000 young adults leave
thecountrylookingforabetterlifethanthe
onessetoutforthemintheirhomecountry.
The exodus is so severe that 25% of Iranians
which have achieved a post-graduate edu-
cation live in OECD countries outside Iran,
which has been reported by AL-monitor to
be one of the highest in the world. It is so
high, in fact, that the World Bank has esti-
mated that $50 billion leaves the country
annually as people look for jobs elsewhere.
The Energy Information Administration
have found Iran to have the fourth largest
11August 2015
proven crude oil reserves globally and it is
roughly predicted to have 157.8 billion bar-
rels, which amounts to a quantity capable
of supplying China for 40 years. The lifting
of sanctions will mean that Iran will have
the capacity to produce 800,000 more bar-
rels per day within 3 months, according to
the International Energy Association, on
top of the 2.8 million barrels per day it cur-
rently produces. This has led the associa-
tion to revise its 2016 forecasts to between
$5 and $15 lower per barrel. Oil consumers
will be able to use this to their advantage
as not only will the oil be cheaper but there
will be a more balanced share of the market
as both Iran and Iraq seek to increase their
production and export oil globally.
Iran has the second largest population in
the Middle East after Egypt with a consum-
er market of 78.5 million people, therefore
its neighbours, such as the UAE and Turkey,
will be those who benefit the most from
increased trade and investment opportu-
nities. The World Bank estimates exports
from Iran will increase to 3.5% of its GDP
due to trade being cheaper, thus allowing
countries such as Britain and India to ben-
efit also. As well as countries, international
companies such as those in the energy sec-
tor will benefit as the Iranian government
is looking to secure roughly $100 billion in
investment from western firms to contrib-
ute to the $200 billion it needs to upgrade
its outdated systems. The market for con-
sumer goods from companies, such as Co-
ca-Cola or Dell, also looks promising with
interest in western trends from Iran's mid-
dle income populace, where per capita in-
come is higher than Brazil and over half the
population have internet access along with
a young adult literacy rate of 98% between
15 and 24 year olds. Many other sectors will
also benefit, for example Iran's transpor-
tation minister announced that over 400
commercial aircraft needs to be replaced
over the next 10 years, which could amount
to at least $20 billion in revenue for aviation
companies, such as Boeing. Countries such
as Russia and China are well placed to con-
duct business with Iran and are also likely
to benefit from Iran's revival, which may
cause Saudi Arabia to move away from its
dependence on the United States which it
uses for defence and a primary market for
Saudi oil.
Iran's stock market, currently valued at
roughly$100billion,couldbealucrativeop-
portunity given that there is no limit on for-
eign investment and, due to the sanctions,
it is seen as undervalued. If the policies of
the current Iranian government are carried
through and the market opens up to equal
its economy,then returns in investing could
be promising with companies currently list-
ed on the Tehran exchange - worth 28% of
the country's GDP; a ratio lower than the
majority of the popular emerging markets.
Due to much of the technical infrastructure
already in place,Iran could be seen as an ex-
citing opportunity to immediately capital-
ise on investment due to both existing facil-
itiesandaprofessionalworkforce,makingit
less of a risk than other emerging markets.
TheWorldBanksuggeststhatforeigndirect
investment (FDI) will peak at US$3 billion a
year, however with double current invest-
ment it is still less than its 2003 peak.
The impact of the nuclear deal cannot be
determined by the immediate interests of
those who negotiated it, but by the long-
term strategic interests of the parties in-
volved. Non-western alliances, such as the
Shanghai Cooperation Organisation, the
Eurasion Economic Union and the New Silk
Road, will also be impacted upon by this
deal.Turkey,anotherregionalpower,willbe
involved due to it being aligned differently
politically but will still be relied upon as a
tradingpartner.Becauseoftheinvolvement
of so many players, the agreement that has
been decided on will influence geopolitics
and economic development strategy for
much of the early 21st Century.
BSc Geography
7. August 201512 13
AccordingtoRichardLochhead,theScottish
Cabinet Secretary for Rural Affairs, there is
no indication of significant demand for GM
products by the Scottish consumers and so
the Scottish government is not willing to
'gamble'with the future of the country's £14
billion food and drink sector. This has led to
Scotland's request that they are excluded
from any European consent for the cultiva-
tion of GM crops.
Under EU rules, GM crops must be formally
authorised before they can be cultivated,
however an amendment came into force
earlier this year that allowed Scotland to
opt out of growing EU-authorised GM prod-
ucts.
Lochhead said that Scotland is known glob-
ally for its "beautiful natural environment"
and that banning the growing of genetical-
ly modified crops would protect and further
enhance its'clean,green status'.
-
However, not everyone is in agreement
with the decision. Scott Walker, the Chief
Executive of the National Farmers' Union
of Scotland, said in a recent interview with
the BBC that'other countries are embracing
biotechnology where appropriate and we
should be open to doing the same here in
Scotland'. Walker believes that these crops
could have a vital role in shaping sustaina-
ble agriculture in the future
Although many scientists and farming or-
ganisations are disappointed by the move,
green groups have welcomed the decision.
Alison Johnstone, a Scottish Green MSP,
agreed that the cultivation of GM crops
would harm the Scottish environment and
its reputation for high quality food and
drink.She hopes ministers will go further to
challenge large retailers on improving their
packaging to indicate whether meat, eggs
and dairy products come from animals fed
on GM feed.
Anne Glover, professor of biology at Aber-
deen University and former Chief Scientific
Adviser to the Scottish Government wasn't
willingtocommentindetailontheban,but
it appeared she wasn't in support. Glover
saidthatitwouldbedifficulttojustifyaban
on the grounds of safety, as GM technology
for plant breeding is globally supported by
a scientific consensus with regards to its
safety. According to the EU,it is'safe for hu-
mans,animals and the environment'.
Plant scientists outside of Scotland were
willing to comment in more detail and did
not hide their thoughts. Professor Huw
Jones at Rothamsted Research in England
said, 'this is a sad day for science and a sad
day for Scotland. GM crops approved by the
EU are safe for humans, animals and the
environment . . . if approved, this decision
serves to remove the freedom of Scottish
farmersandnarrowstheirchoiceofcropva-
rieties to cultivate in the future'.
In the short term, the ban will have almost
no impact on Scotland. This is because in-
sect-resistant maize is currently the only
GM crop approved for commercial sale in
Europe, but it cannot be grown in Scotland
due to the Scottish conditions. However,
this may change in the future as a blight-re-
sistant strain of GM potato is currently un-
der development; if this variety of potato is
notpermittedinScotland,scientistsbelieve
that Scottish farmers will lose out.
Other countries are embracing biotech-
nology where appropriate, but this is not
the case in Scotland. It remains to be seen
how this will stand them in the future and
whether they should in fact have been open
to it.
BA Business Management
The milk quota system that was in place
for 30 years has been abolished. As a result,
dairy farmers are now allowed to produce
as much milk as they like without suffering
a financial penalty.
This has driven a spike in production, par-
ticularly in countries, such as Ireland, Ger-
many and the Netherlands, who intend to
continue to boost exports of milk and other
dairy products to the UK. In turn, this has
caused a huge price war over the cost of
milk, which has ultimately brought down
the price of milk for consumers.
British farmers are now finding that the
pricetheyarepaidbysupermarketsisbeing
driven down further. So now smaller family
businesses are finding it particularly diffi-
cult to continue to produce milk.
The war of the milk price has been an on-
going battle for many years. In 2012, angry
farmersprotestingatthefallingdairyprices
in the EU sprayed fresh milk at the Europe-
an Parliament and riot police in Brussels.
Previously, the Co-operative Food, ASDA
and Morrisons all agreed to raise the pay-
ment made for the cost of milk to milk
suppliers and ALDI agreed to put in an ad-
ditional 1p for each litre of milk purchased.
The question is will this trend continue or
will the supermarkets focus more on bring-
ing in the customer than protecting the
farmers.
Morrisons have pledge to sell a new milk
brand, which will see 10p paid per bottle
to farmers. The move comes after farming
industry leaders met bosses of the super-
market chain to discuss the price of milk.
Morrisons believe this will help struggling
dairy farmers to stay in business following
the sharp drop in the amount they are paid.
Farming unions across the UK have devel-
oped an action plan following an 'urgent
summit' to discuss milk prices. The plan in-
cludes calls for labels to show British prod-
ucts and long-term contracts for farmers.
The action plan is vital as some farmers are
now experiencing a 'crisis' after being paid
less for their milk than the cost of produc-
tion,theNationalFarmers'Union(NFU)has
said.
Many farmers have been organising pro-
tests,withdemonstrationsrangingfromre-
moving large quantities of milk from shops
to blockading distribution centres.
The NFU says the new action plan calls for:
UK farming ministers to meet urgent-
ly and for the government to ensure
farmers' contracts are longer term and
more fair
Thegovernmentto'urgently'ensurela-
belling rules mean British products are
clear and obvious'
Retailers to 'stop devaluing' British
food 'purely to get customers through
the door'
The EU to underwrite the short-term
credit position of vulnerable farmers
Farming leaders have come together to
urge the Government, retailers and pro-
cessors, as well as the EU, not to ignore the
warning signs that milk farming is in a state
of emergency.
BA Business Management
August 2015
8. August 2015 15
The air traffic control for this suggested
drone airspace would be handled by an
automated computer system according to
Amazon US. The retailer also citied that the
workload of this air traffic control system
is the greatest limitation on the airspace
capacity. Thus, the drones must be able to
talk to each other and avoid each other as
the airspace zone proposed gets denser at
lower altitudes.
According to Amazon's plans, their drones
will be able to update their routes in re-
al-time. The customer would be able to
choose from a variety of delivery options
ranging from 'bring it to me' to nominate
their home, place of work or even 'my boat'
as a place for the packages to be dropped.
Amazonhassetoutguidelinesthatallcom-
mercial drones must meet if they are to be
allowed to fly inside the proposed 200ft air-
space zone,which are as follows:
Sophisticated GPS tracking that al-
lows them to pinpoint their location
in real-time and in relation to all other
drones around them.
A reliable internet connection onboard
thatallowsthemtomaintainreal-time
GPS data and awareness of other
drones and obstacles.
Online flight planning that allows
them to predict and communicate
their flight path.
From an independent perspective, these
guidelines would allow a centralised air
traffic controller to regulate the airspace in
real time,much like in commercial aviation.
This method is fundamentally a tried and
tested one, and so is perfectly viable. Fur-
ther guidelines include:
Communications equipment that al-
low them to 'talk' and collaborate with
other drones in the zone to ensure they
avoid each other.
Sensor-based sense-and-avoid equip-
ment that allows the drones to bypass
all other drones and obstacles such as
birds,buildings or electric cables.
These last set of guidelines thus allow the
drones to avoid collisions with other drones
and other aerial and sub-aerial obstacles.
Again the method of regulation has much
in common with commercial aviation and
so is also completely viable.
The other interested party in drone usage
are amateur drone hobbyists and model-
lers. Under current US regulations, they are
allowed to fly their drones within line of
sight up to 400ft as long as they stay away
from airports and other out-of-bounds
areas. But under Amazon's proposed reg-
ulations, drone hobbyists would only be
allowed to fly within the new 200ft-400ft
corridor if their drones were equipped with
the latest hyper-sophisticated gadgetry for
autonomous flight. Otherwise, they would
have their activities confined to geograph-
ically demarcated airfields in relatively
unpopulated areas that would be set aside
specifically for the purpose.
The second major issue facing commercial
drones is battery life, as both budget and
high-end drones have an average battery
life of about 20 minutes - with some even
managing just 10 minutes of flight time.
This issue, however, is becoming less of a
concern as battery technology is becoming
a hive of activity with innovation. One limit
to this solution is that the drone will have to
be specific to the type of battery the drone
manufacturer chooses as many types of
battery that work in a variety of ways exist.
Overall, drone technology is fundamental-
ly progressing faster than the social regu-
lations created by state institutions, to the
extent where Amazon is having to create its
own regulations to propose to regulatory
authorities.
This whole situation, further, can be said to
serve as microcosm for our current society,
in which technology is progressing so fast
that we tend to lack the regulations to con-
trol it effectively and safely. This can be also
related to the use of big data, social media
and the subsequent security concerns. But
that is a different story entirely.
BSc Geography
August 201514
Unmanned aerial vehicles (UAVs), more
commonly known as drones, are defined as
aircraft without a human pilot. Moreover,
they are usually controlled either by auto-
mated onboard computers or remotely by a
pilot on the ground. Drone technology has
led to a whole host of social and political is-
sues regarding their use both in commerce
and in the military. The drones we are most
associated with due to their controversy in
the news are the ones with military applica-
tions, where drone strikes on the Taliban in
Pakistan are killing more people than just
their intended targets.
Recently, however, commercial drones are
stirring up controversy of their own. This is
largely due to the regulations surrounding
theuseofairspacebetweenthecommercial
use of drones, amateur use of drones and
commercial airliners.
With regards to the commercial use of
drones, they are being trialled to be used
to deliver products to customers as an ex-
tra option to either collection or delivery by
conventional delivery. This added option
of delivery is being trialled right across the
globeintheUKandChina,buthasthemost
pace in the USA where drone technology is
at its most advanced. Advocates of drone
technology and its application in delivery
services for retails see it as innovation in
the market, while airspace regulators see
drones as a nuisance.This aside,drones still
need to be dealt with because of their tre-
mendous business potential.
The Consumer Electronics Association said
the drone market should be worth about
$130 million (£86 million) in 2015 - 50%
higher than 2014. In a few years this trade
association expects it to be a billion-dollar
market with an abundance of commercial
applications.
Giants such Amazon and Google in particu-
lar see drones as future delivery vehicles
with business potential. They also have ap-
plications outside of delivery that include
the maintenance of buildings, architects
and even real estate. However, all is not sta-
ble in the commercial world of drones as
there are two key issues facing them; regu-
lation and battery life.
In the US, the Federal Aviation Authority
(FAA) has very strict regulations regard-
ing airspace around the commercial use of
drones and, according to them, the regula-
tions for commercial use are strict for very
good reasons. They cite that there is much
anxiety in the community about the use of
amateur drones and privacy, as most of the
craft come equipped with cameras. There-
fore the uptake of amateur drones usage
heralds security issues in the community.
This first issue regarding regulation is the
use of airspace that would be required in
a delivery service. To address this issue the
US online retailer giant Amazon has called
for a separate airspace zone for commercial
drone flights that would deliver goods to
their awaiting customers. They propose a
zone that would have the drones flying be-
low normal planes at a height of 61 to 122m.
This segregated civil airspace would carve
out a zone below 500ft that would enable
drones to fly unhindered and without en-
dangering civilian or military planes. This
proposal suggests an airspace of below
200ft for low-speed localised drone traffic,
such as drones for surveying, filming and
amateur usage. The next level between
200ft and 400ft would become a 'high-
speed transit space', for drones such as the
ones Amazon is aiming for with its future
dronedeliveryplans.Astrictno-flyzonebe-
tween 400ft and 500ft would be used as a
bufferzonetoallcivilian,cargoandmilitary
aeroplanes using the space above the 500ft
mark.
9. August 201516
Sincetheboomofsmartphones,thewaywe
are using our phones has changed. Aside
from checking our email and social media
sites, we are using our smartphones more
for banking and looking at portfolios - this
is what we call the'FinTech Revolution'.
A report compiled by Accenture stated that,
since 2013, global investment in financial
technologies (FinTech) has topped over $4
billion and is still growing, After the finan-
cial crisis of 2008, people wanted a better,
safer and more convenient way to bank.
FinTech keeps rising as the products created
by these companies are targeted to a cer-
tain group of people that would need tailor
made financial technology. One example is
an app that facilitates farmers buying and
selling their cocoa in Ghana and knowing
what the market price of their cocoa is as
it is leaving their farms in order for them to
get a fair price.
The rise of online shopping is more than a
convenience to most and has made retail-
ers such as Amazon bigger than tradition-
al stores such as Walmart, yet credit card
fraud and identity theft are just some of
the challenges banks are facing at the mo-
ment. eBay, one of the retailers anyone can
use to sell their products, led to one of the
greatest innovations in the FinTech indus-
try; the rise of PayPal - an online payment
system that virtually allows transactions to
be completed. It is quick and easy to have
payments accepted, without the risk of
having credit card and identity details com-
promised through third party sellers. The
reason behind PayPal's success is quite sim-
ply its ease of use and therefore it is largely
becoming an online wallet for most. Many
high street retailers have started accepting
PayPal payments in the United States and
thetrendisrisingacrossEuropeandtherest
of the globe.Love it or hate it,Apple Pay and
Google Wallet are also slowly being used
by many owners of smartphones - with the
wave of your mobile across a scanner, you
are walking away with your coffee without
having reached for your wallet or credit
card. This is how FinTech is revolutionising
thefinancescene.Butwhataboutinthede-
veloping world?
Smartphones, though slowly creeping into
countries such as Kenya, still have a while
to go before they can be used effectively for
banking. However, an amazing technology
has recently emerged in Kenya called MPE-
SA. MPESA, so-called after the Swahili for
‘mobile money’,is owned by the largest mo-
bile phone provider, Safaricom (a subsidi-
ary of Vodafone Plc) and has been a game
changer for the way Kenyans are banking.It
hasbecomesobigthatthelargebankshave
had to incorporate MPESA into their bank-
ing structure in order to facilitate the large
numberoftransactionsMPESAhas.Whatis
unique about MPESA is that it does not re-
quire an internet connection to be used and
has become the ‘Bank’ for those without
bank accounts or access to atm machines.
Money in Kenya has started circulating fast-
er electronically than the Central Bank of
Kenya would have predicted five years ago.
It has become the everyday Kenyans’ bank
account and wallet; the same way that deb-
it cards work.
FinTech has already started integrating
into everyday financial transactions and is
becoming easier and faster.FinTech compa-
nies, such as PayPal, WentWorth (a wealth
management company that has more than
$1 billion under management) and Stripe,
are worth billions of dollars and are grow-
ing faster than other competitors in the in-
dustry. FinTech could be the future of how
we perceive finance.
BSc Economics with Finance
17
Simple, safe, convenient – these are just
three of the words you might use to de-
scribe Uber,the tech firm that is revolution-
ising the taxi industry. Similar to how Airb-
nbhaschangedthewaypeoplebookhotels,
Uber provides an easy way for customers to
request a private hire car to their location,
often for a cheaper price and with a better
quality of journey than traditional taxi ser-
vices. Hence, it might come as a surprise
that these were the words tweeted by musi-
cian Courtney Cobain after an Uber journey
in France this June: ‘This is France? I'm safer
in Baghdad’.
Uber drivers and passengers alike were
faced with slashed tires,baseball bats,over-
turnedcarsandriotpoliceduringtheirjour-
neysthispastJuneinParis,aslocaltaxidriv-
ers staged their most violent protest to date
against the disruptive new firm. After years
of experiencing little to no competition
from rival firms, taxi drivers are not happy
withthearrivalofUberanditssuperioruser
experience–from lower prices,to a conven-
ient and easy to use app,cashless payments
direct to card and effortless driver rating
system, allowing users to feed back directly
to Uber after their journey. Indeed, it would
appear that Uber is light-years ahead of tra-
ditional taxi services, and customers have
been voting with their feet.
Certify reported that in Q1 2015, an average
of 46%oftotalpaidcarridesintheU.S.were
with Uber, compared to just 15% the year
before, putting the source of this incredible
growth rate down to consumers looking for
'valueandconvenience'.Insomecities,busi-
ness people have even been spending more
on Uber than they have on traditional taxis,
and this growth shows no signs of slowing
down. Facing a loss of revenue and market
share, taxi drivers have taken to the streets
in protest all over the world.
In May,the United Cabbies Group (a UK taxi
driver union) called for London taxi drivers
to take to the streets in the hope of causing
gridlock across the city, fearing that they'll
be forced out of business due to an inability
tocompetewithUber'slowerprices.Mexico
City has also seen more violent protests, in
a similar vein to Paris, with reports of eggs
andflourbeingthrownatUbervehiclesand
windows being kicked in, after local drivers
demandeda‘totalhalt’toUber'soperations
in the city.
Even if one sympathises with the taxi driv-
ers,it's hard to see how violent protests that
cause misery for thousands of commuters
are the most effective way of airing their
views. In fact, it only serves to cause more
animosity towards these very drivers, with
many users commenting online that the
behaviour of taxi drivers has made them
more likely to opt for an Uber in the future
– in London, Uber even reported a spike in
journeys during the protest, as consumers
were not able to find an available taxi, and
simply ordered an Uber instead. It would
appear that, whilst transfixed on causing
as much chaos as they can, the carpet is
being pulled from beneath the taxi drivers'
feet.
Rather, it would make more sense for these
traditional services to compete on service,
rather than trying to block innovative ideas
that result in a better product for the end
user. After all, taxi drivers are in the hospi-
tality industry, and what's the point if the
service offered is not the best it can possibly
be for the customer? For instance, black cab
drivers in London point out that they have
an unrivalled understanding of the streets
of the city thanks to the intense examina-
tion they have to go through in order to
receive their license called ‘The Knowledge’,
which they claim makes them best placed
to drive customers to their destination.
However, it's questionable how useful this
is in the post-sat-nav age, since this is now
a job Uber drivers can do quickly and easi-
ly on their phones. It's clear that tradition-
al taxi drivers need to find new avenues of
product differentiation, rather than resting
on their laurels.
However, it might not be that simple – gov-
ernment regulation also plays a role in pre-
venting fair and equal competition in the
taxi market. Since Uber is not strictly a taxi
company (it merely connects customers to
self-employed drivers), it cleverly avoids
having to adhere to any of the strict regu-
lations that govern others in the industry.
Whilst cab drivers must pass background
checks and pay up to three figure sums for a
license to operate, more or less anyone can
become an Uber driver–as long as you pass
some basic tests. Many taxi drivers are now
questioning the value of their investment
considering it costs next to nothing to offer
the same service via Uber. It's a clear exam-
ple of government policy failing to keep
up with innovation, and it's costing people
their jobs as the industry struggles to adapt
–assuming it's willing to.
Either way,it's clear that Uber is here to stay,
and there's a reason it resonates with cus-
tomers – it offers a better quality service for
less money. It is now the job of government
toleveltheplayingfieldandensureredtape
can'tbeblamedforthestallingtaxiindustry.
BA Economics
August 2015
10. August 201518
Skype, FaceTime, Google Hangouts, are all
used by billions of people. Indeed, video
calling is commonplace; the future has ar-
rived. With the advent of connected tech-
nology, everything becomes more immedi-
ate to the individual. Now, people can use
technology to have people deliver food and
buy their books,clothes and groceries.They
can do their banking, arrange insurance
and even look for good schools for their
children,all without leaving the house.And
now,we can also consult with a doctor.
Telehealthcare, commonly referred to as
'telecare' in the UK, encompasses a number
of communication technologies and, in the
past few decades, has been predominantly
for doctors to communicate with each oth-
er or for patients contacting their regular
specialist. More recently, services offering
one to one consultations over video call for
anyone willing to pay have been appearing
in both the US and the UK.
Butwearenowintheageofapps;thingsare
quicklychanging.Picturethis:yougethome
from work and are feeling ill.You can either
call your GP to hope to get an appointment
in the next few weeks. Or you can do what
Ms DeVisser, a patient living in America,
did: she typed in her symptoms and cred-
it card number and, within half an hour, a
doctorappearedonherscreenviaSkype.He
looked her over, asked some questions and
agreed she had sinusitis. Within minutes,
Ms. DeVisser, had an antibiotics prescrip-
tion called in to her pharmacy.
The scope for improvements in efficiency
for both clinicians and patients is huge.
However, this new technology is facing re-
sistance from some areas within medicine.
Insurance companies are concerned that
telemedicine will actually increase health-
care costs,as the so-called‘worried well’use
their newfound access to contact doctors
for trivial complaints.There are also patient
safety concerns,specifically the risk of miss-
ing a diagnosis when the doctor is not able
to lay hands on and examine the patient.
In the US, Medicare is beginning to reim-
burse patients for using telemedicine ser-
vices, but, in the UK, it remains the remit of
private insurance. The NHS, ever cost-con-
scious, runs only a few pilot programmes,
stymied by concerns that the technology
will only benefit those who are already bet-
ter off,not the whole public.
Advocates of telecare point to the opportu-
nities presented by the huge penetration of
smartphone technologies across every stra-
ta of society. As well, quick instant access to
a GP consultation at a convenient time and
location is an obvious improvement in user
experience to the traditional model.
Babylon health, founded in 2013, is one
such service based in the UK. Their phone
app offers quick consultation with a doctor
ornurse,prescriptiondelivery,andwilleven
deliver test kits to the patient's address.The
service is offered for a £4.99 monthly sub-
scription and then a £29 fee per consulta-
tion, with higher fees if a specialist is need-
ed. Otherwise, it is also offered as a perk
of employer provided health insurance. In
some areas, they are also working with the
NHS to offer the same services.
The future of medicine is here. Rapid con-
venient access healthcare like this is unpar-
alleled in the NHS. Going forward, services
like these will be commonplace. At reason-
able prices, uptake could be huge. Incum-
bent insurance companies have already
jumped on the bandwagon, as well as new
contenders like Babylon.The field is ripe for
expansion.
MBChB Medicine
19
There are many groups of teams all over the
world dedicated to the various different as-
pects of space travel and exploration. This
$300 billion extraordinarily complex indus-
try explores many aspects of new technol-
ogy, however sometimes groups try to ex-
ploit the technology that we already have;
in this case,satellite navigation.
In order to travel to the moon, the space-
craftcan'tjustbepointedtowarditandtake
off; navigation is required. Currently, space-
craft communicate with tracking stations
on Earth, such as NASA's Deep Space Net-
work, to monitor their positions. But these
large radio antenna facilities are expensive
to run and there are a limited number dot-
ted around the planet. If we're ever going
to send spacecraft to the moon on a reg-
ular basis, we'll need a more autonomous
system. This is where satellite navigation
comes in.
Vincenzo Capuano of the Swiss Federal In-
stitute of Technology in Lausanne (EPFL),
Switzerlandandhiscolleagueshavefigured
out a method for this. Spacecraft traveling
to the moon could use signals from GPS
satellites on the distant side of Earth to nav-
igate.Thesignalismuchweaker,butthey've
calculated that combining signals from US
GPS satellites with those from Galileo,a Eu-
ropean navigation system currently under
construction, would be enough for a lunar
trip.The team is also developing more pow-
erful GPS receivers to pick up this weaker
signal, which could in turn have benefits
on Earth. Standard smartphone receivers
struggletogetalocationinsidebuildingsor
other built-up areas, so new devices could
mean better navigation.
The potential implication of this new tech-
nology, as with most new ideas, has its pros
and cons. With the introduction of the GPS
system, money can be saved for the expedi-
tion as a whole, as fewer people are needed
on the ground to oversee the navigation as-
pect. This is because the whole idea of this
is that it is cheaper, easier and won't need
as many people to man it. The downside
to this is that, because it doesn't require as
many staff, there won't be as many jobs.
This can lead to layoffs and, in turn, unrest
within the local community.
The money that this new technology will
eventually save means that more space
travel can take place in the future as it is
now more sustainable. This saved money
can also be invested into new technology
which can forward the exploration of, not
just the moon,but the further solar system.
Because of this,new developing technology
expeditions to the moon and other areas of
space could become more frequent. This
leads to an increased volume of lunar traf-
fic, which could have negative consequenc-
es for the environment because of all the
pollution and solar debris that comes with
it.
The technology used in the development
of the sat-nav system can be forwarded to
aid other areas of exploration too. Com-
municating effectively with astronauts
on the moon was an essential part of the
Apollo missions. Without reliable radio
contact, there would have been no live
feed of Armstrong's first steps and, in all
likelihood, no first steps at all. According
to new research, the next footsteps on the
lunar surface could be beamed back to
Earth via the moon's very own network of
communication satellites. The setup could
double as a GPS for moonwalkers. Without
it, interesting areas for exploration, such as
the lunar poles, which may harbour water
ice in permanently shadowed regions, will
remain out of reach. The moon's far side is
also currently inaccessible without a relay
satellite, for it is the ultimate radio dead
spot; the only place in our solar system that
never faces Earth.
MChem Chemistry
August 2015
11. August 2015 21
Share prices, currencies and commodities,
along with other forms of securities have
takenasizeablehitamidthebreakingnews
that Chinese policymakers have made fur-
ther moves and advances to devalue the
currency further. Investors have therefore
become increasingly worried due to the
possibility of a stalling Chinese economy
and an impending currency war. This is all
occurring despite attempts by Beijing to
restore confidence and make assurances to
the contrary.
The cumulative drop in the exchange rate
is the biggest since China set up its modern
foreignexchangesystemin1994whenitde-
valued the yuan by 33%.The national lender
attempted to restore confidence over the
healthy position of the yuan. However, this
is in contradiction to industrial production
figures,export statistics and state-led infra-
structure investment figures.
The performance of the US economy over
the past five years has changed substantial-
ly; it is becoming increasingly stronger and
more resilient. This has led to the appreci-
atingdollar.However,theChineseeconomy
has gradually become less competitive and
weaker.
China's insistence on continuing to have a
large impact on its exchange rate through
artificially fixing it at a low level has come
ataprice,throughcompetitivedevaluation.
Its relationship with the rest of the world
has been under scrutiny and is severely un-
stable with regards to its foreign exchange.
A currency war will only serve to exacerbate
the problem. Although the winner during
devaluation is usually the country that is
devaluing,ifallcountriesretaliate,thenthis
will lead to severe imbalances in the terms
of trade.
Currency devaluation may lower produc-
tivity in the long-term, since imports of
capital equipment and machinery become
too expensive and this has been seen in
Chinese infrastructural investment figures
that are below forecast.If devaluation is not
used in conjunction with positive structural
economic reforms, this will be to the detri-
ment of productivity and output. There is
no guarantee that the Chinese central bank
has achieved the correct rate. The degree of
the devaluation may be greater than or less
thandesired.Thismayhavelongertermim-
plications with regards to inflation, capital
outflows and foreign direct investment.
Initiating a currency war is likely to lead to
greater protectionism. It's this isolationist
attitude and retaliation that will continue
to impede global growth as well as jeopard-
ise international relations at a time when
relationsbetweeneastandwestarealready
volatile.
BA Economics
August 201520
With news that Chinese exports are slow-
ing, the Chinese authorities have devalued
the yuan in an attempt to reflate export de-
mand.Withslowingglobaldemandgrowth
and the surging USD, which the yuan is
pegged to, Chinese exports are becoming
increasingly more uncompetitive. This has
ledthePeople'sBankofChina(PBOC)toim-
plement an artificially lower exchange rate,
which has subsequently raised fresh fears
of a currency war.
This direct, market-orientated approach by
the central bank is known as devaluation.
Devaluation occurs when the government
deems it in the economy's interest to lower
the exchange rate, restoring competitive-
ness and creating a Current Account Bal-
ance of Payments Surplus.
In the past few years, China's growth has
been driven by export-led growth and debt-
fuelled investment. Now, devaluation has
direct effects and consequences on both of
these factors.
Theoretically, as China has experienced a
slowdown in export led growth, the deval-
uation effectively makes Chinese goods less
expensive in foreign markets, which allows
domestic goods to become more competi-
tive. This has been demonstrated in differ-
ent markets, with particular attention on
the Indian textile market and Chinese car
manufacturing. Similarly, foreign retailers
note that Chinese consumer goods have be-
come cheaper, in conjunction with services,
products and raw materials. These benefits
canalsobeseeninthetourismmarket,with
international tourists now able to afford
more for their money.
However,Chinese importers will notice that
theyarenowfacingrelativelyhigherimport
prices from foreign competitors as they
now have to pay more in foreign markets.
As a natural consequence, to restore com-
petitiveness and equilibrium in a globally
competitive marketplace, other countries
will feel the need to reduce their currency
to restore their competitiveness.This deval-
uation and direct intervention by the PBOC
has put enormous pressure and strain on
other currencies as exports flatline and, in
some cases, decline. As a result, exporters
to China, such as the US and the UK will
find it harder to sell to Chinese consumers
in China. This is particularly the case with
luxury items, such as Burberry, Louis Vuit-
ton, Chanel and Givenchy as they become
relatively more expensive. The race to the
bottom accelerates and will soon spiral out
of control.
The debt-fuelled investment that has
fuelled China's unprecedented growth over
thepastfewdecadessincetheliberalisation
of the Chinese economy in the mid-1970s
has meant that the country now has a ma-
jor debt issue. This debt has been amassed
over many years and is owed to various oth-
er nations. As a direct consequence of the
devaluation, Chinese companies will have
to pay more interest on debt in foreign cur-
rencies,as the yuan can't stretch as far.
12. August 201522
Barclays has been handed the biggest UK
bank fine in history, as six banks were or-
dered to pay $6 billion (£3.9 billion) over
fixingtheforex(foreignexchange)markets.
The Financial Conduct Authority (FCA) in-
structed Barclays to pay £284.4 million as
part of the British bank's £1.5 billion settle-
ment with UK watchdogs and US regula-
tors.RBS,JPMorgan,UBS,Citigroupandthe
Bank of America were also fined by the Fed-
eralReserve,whileallbuttheBankofAmer-
ica were forced to plead guilty to criminal
charges and were penalised by the US De-
partment of Justice. The bankers involved
attempted to manipulate vital benchmarks
used by companies around the world as a
peg for foreign exchange transactions.
Barclays has fired eight employees as part
of its agreement with the New York De-
partment of Financial Services (DFS). The
bank has also agreed to settle a separate
$115 million fine with the US Commodity
Futures Trading Commission (CFTC) for
manipulating the International Swaps
and Derivatives Association fix (ISDAfix),
a dollar benchmark used to price certain fi-
nancial products.Benjamin Lawsky,head of
the DFS, who revealed on Wednesday that
he will step down from the job after four
years, said: 'Put simply, Barclays employees
helped rig the foreign exchange market.
They engaged in a brazen ‘heads I win, tails
you lose’scheme to rip off their clients'.
The four US regulators and the FCA levied
$5.7 billion worth of fines for manipulating
foreign exchange benchmarks. Addition-
ally, UBS and Barclays were ordered to pay
$263 million to the Department of Justice
because their activity violated agreements
signed when the banks were fined for Libor
rigging.
Barclays,RBS,Citigroup and JP Morgan also
took the step of pleading guilty to conspir-
ing to fix prices. The banks were accused of
failings that meant their traders were able
to club together to rig forex markets as late
as 2013; the year after the Libor scandal
broke. Authorities said that they had iden-
tified instances of market rigging occurring
as early as 2007.
Despite these huge fines, which take com-
bined penalties over foreign exchange ma-
nipulationto$10billion,sharesinthebanks
surged owing to the relief of investors that
they were not larger. Barclays shares rose
more than 3pc, adding £1.48 billion to its
value. The bank had set aside more than £2
billion in relation to the probes. Similarly,
RBS, which is 80pc owned by the taxpayer,
saw a 1.78pc rise in its shares. The bank had
set aside £704 million for potential fines,
but its penalties on Wednesday totalled
just £430 million. Out of the seven banks to
have been penalised for currency rigging,
Barclays'total fines are the highest.
In addition, the bank is still being pursued
by the DFS over potential electronic rigging
ofcurrencybenchmarks.Theregulatorisin-
vestigating whether the bank's employees
set up automated systems to manipulate
markets.TheDFSdoesnotregulatetheoth-
er banks involved and thus fined only Bar-
clays, but it is also investigating Deutsche
Bank over potential automated rigging.
Antony Jenkins, CEO of Barclays, said: 'The
misconduct at the core of these investiga-
tions is wholly incompatible with Barclays’
purpose and values and we deeply regret
that it occurred'.
Barclays, unlike the other institutions to
have been fined, had not settled with the
FCA and CFTC in November, when HSBC
was also penalised in a settlement that to-
talled $4.3 billion. This meant it only quali-
fied for a 20pc settlement discount with the
watchdog,compared with the 30pc that the
other banks received.
BA Accounting and Financial Management
23
The Libor scandal recently dominated our
headlines with all eyes on Tom Hayes’ mis-
conduct, a 35-year-old former UBS and Cit-
igroup derivatives trader sentenced to 14
years for eight counts of 'conspiracy to de-
fraud'.
Despite the substantial repercussions faced
by Hayes, the recent scandal was nothing
new to the banking industry, nor was it the
firsttimethataheftysentencehasbeenim-
posed in order to make an example of what
seems to be a common crime.
Libor is the London Interbank Offered Rate
that is responsible for around £200 trillion
worth of financial deals.It is an interest rate
benchmark, which sets the average price at
which a bank is happy to lend to another,
and highlights the level of interbank con-
fidence in each other's financial health.
In simple terms, this is calculated, first, by
each bank submitting the rate they are will-
ing to lend at. From here, the top and bot-
tom quartiles are discarded and an average
is calculated to arrive at the Libor rate.
Accusations of manipulation have aris-
en due to the fact that the rates set by the
banks are estimates rather than set trans-
actions. Recent allegations maintain that
traders, such as Hayes, from numerous dif-
ferent banks, colluded to achieve the final
Libor that fitted their requirements.
This practice has been acknowledged by
many, with two brokers pleading guilty to
fixing the Libor and Lloyds, UBS, I-Cap, J P
Morgan,CreditSuisseandRBSallaccepting
large fines for their role in the fixing. The
sheer number of large banks involved in the
scandal strongly implies that this fixing ac-
tivity was widely known and tolerated,with
Hayes himself declaring that he had been
taking part in an extensive activity. This,
further with findings from an FSA report in
2006, which exemplified that traders were
fixing the rates in exchange for favours,
showsthefrequentoccurrenceofthiscrime.
Despite this widespread activity, it seems
to be Hayes himself that has bore most of
the blame for the scandal. The moral di-
lemma underlying Hayes’ trial is of great
importance.Wasitfairthathewasmadean
extreme public example of, for something
that most banks seemed to be engaging in?
And why have similar criminals not been
punished in the same manner?
Hayes personally argues, 'Not even Mother
Teresa wouldn't manipulate Libor if she was
setting it and trading it {sic}' and addition-
ally maintains that his wrongdoings didn't
seem to be an issue since Libor fixing was
'such an open secret'. For those who are
quick to criticise Hayes of his crime, I urge
you to stop and think how you would act
in a similar situation. With everyone aware
and accepting of what seems to be a nor-
mal practice, which makes your company
millions of pounds, would you stop to think
twice?
The fact remains, however, that he still
committed a crime in the eyes of the FSA,
regardless of how many others were engag-
ing in the same type of activities. The judge
of the trial, Mr Justice Cooke, admitted that
Hayes’ sentence was to serve as an exam-
ple to others in the banking industry not to
mistreat the trust that the financial system
relies on.
This leads us to take a closer look at the
sentencing of bankers in similar situations.
Nick Leeson received six and a half years
after a series of disastrous financial bets,
causing the collapse of the old established
Barings bank.Similarly,Kweku Adoboli was
sentenced to seven and a half years due to
losing $2.3 billion for UBS through unau-
thorised trading.This has caused his case to
be dubbed the 'biggest fraud in British his-
tory'. In comparison, Hayes has paid a huge
price for misconducts that started before
and continued after his working career. He
has received a sentence that is more than
that of most murderers and rapists. The
severity of his sentencing signifies a show
of strength from both the government and
the FSA and how the world of finance is
becoming heavily monitored and regulat-
ed. The primary question here is whether
banks will ever be so successful without
widespread scandals such as this.
For now it is clear that the harsh conse-
quences of Hayes’ actions have acted as a
wakeup call for all in the financial industry.
He hardly poses a threat to society such as
that of an axe murder, yet his actions came
at the expense and trust of the taxpayer. It
shall be interesting to find out how much
of his sentence Hayes is required to com-
plete, as well as the consequences facing
those of the same crime. It seems here that
Hayes’ downfall was being too naïve about
hisactionsandtheinformationherecorded
about his crimes.
BA Business Management
August 2015
13. 25
versification. For this reason it is one of the
most popular investment strategies world-
wide. In addition, shares in Blue Planet are
roughly 40p, allowing smaller investments
to be made using discount online brokers.
However, as an investor, you are still inte-
grated into a system designed by brokerage
companies to use your money to maximise
their profit and minimise their risk. In re-
turn for the privilege of an account, you pay
both trading fees, either individual or by
financial quarter, alongside often losing a
percentage of your investment profits. Is it
not possible to cut out the middle men?
It is possible to trade directly using the fi-
nancial markets, in real time, by spread
betting or Contract for Difference (CFD)
trading. A CFD is essentially the agreement
between an investor and a broker that mir-
rors the movement of some form of asset.A
company will allow you to deposit a small
amount of capital and place such orders on
the stock market in real time. These invest-
ments are commonly leveraged, meaning
that you can essentially borrow money in
order to maximise your exposure to a mar-
ket. In return, the broker absorbs some of
the profits made on the trade based on its
'spread'. Essentially, you begin the trade at
a loss and the asset has to move as expect-
ed for your investment to even break even.
As it might sound, spread betting and CFDs
can be very high risk and, although many
traders would disagree with my use of lan-
guage,aswithanyformofgambling,itisin-
credibly important to work out exactly how
much you are prepared to lose.
In recent years, with the advent of online
crowd-sourced funding, a new sector of
investment has been created, which com-
bines most of the benefits of spread betting
withmostofthesafetyandstabilityofmore
mainstream investment strategies. Why
put your money in an organisation that is
going to invest in other companies, and
charge you for the privilege, when you can
simply lend to the company itself?
In addition, many crowd funding websites
will do a significant amount of due dili-
gence on loan applicants in order to cate-
gorise them into risk bands.Returns tend to
average at around 6%,having deducted the
typical1%takenbytheprovider.Youcande-
posit as and when you have the money and
vibrantinternalmarketsforsellingonloans
means that retrieving your investment in a
pinch is relatively simple. Many providers
have orchestrated the loaning of hundreds
of millions of pounds to small to medium
sized businesses. It is also very simple to
diversify your portfolio so that you only pro-
videverysmallamountsofeachloan,across
a variety of risk bands, minimising your ex-
posure to bad debt. Furthermore, you can
split your investments across a wide variety
of platforms to further minimise risk.
In conclusion, the high fees and financial
requirements of traditional forms of long
term investment are not suitable for most
students and instead they should focus on
crowd funding when considering the first
steps towards building the nest egg.
BA History and Philosophy
August 201524
Generation Y, roughly those born between
1980 and 2000, have experienced and are
expected to continue experiencing, far
harsher economic conditions than our par-
ents in generation X, roughly 1960 to 1980.
For example,the financial crash,and conse-
quent reduction in the availability of cheap
loans, has blocked many of us from having
even the slightest hope of getting on the
property ladder before our thirties. This
in turn leaves us renting for longer, which
in turn reduces our available income, and
lessens our ability to save the required cap-
ital. In short, our generation needs to get
saving earlier than ever.But how?
With a bank of course! That's what they are
for! Well, yes and no. For example, in my
own case, the saver account that I thought
was conveniently supplied by HSBC along-
side my normal bank account turned out
to pay 0.1% interest. Not fabulous. When I
looked for alternate account types, the ad-
vertisedratestendtobefor'Premier'oroth-
er special accounts and have required levels
of monthly or total capital investment that
are not practical for students. The best I
could find with my bank was 4%, which re-
quired a monthly commitment, could not
be accessed in an emergency, and only paid
out at the end of the year.
The other main idea was to buy stocks and
shares. However, this typically requires
involvement with some form of broker-
age firm or the investment arm of a bank.
There are two main ways to do this. The
first is as an individual investor. The second
is as part of a collective investment fund. I
will explore one example of each of these
methods and attempt to demonstrate why
neither are particularly suitable investment
strategies for most students.
HSBC's Invest Direct program is fairly typ-
ical in offering to allow you to 'build and
manage your own portfolio of securities
including UK and US shares, Government
bonds and exchange traded funds'. On first
appearances, this appears ideal. A wide
range of investment opportunities offered
by a large, reputable, organisation. Howev-
er, the major drawback is the £12.95 charge
placed on every trade or transaction. These
fees are present in some form in nearly all
brokerage firms or banks as companies and
firms attempt to skim the greatest possible
profit from investors. When trading with
small amounts of money, a relatively large
trading fee will offset profit for a long time.
In addition, the money that is invested is
still liable to all the usual risks of stocks and
shares investing.Although students tend to
have an advantage over older investors, in
that we tend to have more time to research
companies, the level of risk in any opportu-
nity is always difficult to be certain of.
Collectiveinvestmentfundsarereachedina
similar way to individual stocks and shares,
via some form of broker. Many of these or-
ganisations are essentially companies in
themselves and can be remarkably profita-
ble.Forexample,thosethatinvestedinBlue
Planet investments in 2010, via StockTrade
(who were sold themselves to Alliance
Trust Savings in May 2015), benefited from
a 490.27% rise based on companies as well
known as General Motors and as unknown
as NXP Semiconductors NV. Obviously this
is an outlying value, and not all funds do as
well,howeverthegreatestadvantageofthis
method is that it combines the security of a
larger fund with professionally guided di-
August 2015
14. 26
The bookmaker Ladbrokes (LON:LAD) has
recently confirmed a long expected merg-
er with Gala Coral, in a deal set to create
a £2.3 billion betting giant. The resulting
company,tobenamedLadbrokesCoral,will
become the high street leader ahead of cur-
rentnumberone,WilliamHill(LON:WMH).
But with worrying falls in profits and tough
challenges ahead, will the merger really be
able to give Ladbrokes the lift it needs?
The deal comes shortly after Jim Mullen,
current chief executive, was appointed with
a brief to ‘shake up the business’. Mullen
will become the boss of the merged com-
pany, while Carl Leaver, CEO of Gala Coral,
will be executive deputy chairman.The new
company will operate under dual brands
and will boast a combined revenue of £2.1
billion and underlying earnings of £392 mil-
lion. It is expected that the deal will bring
in savings of £65 million a year. To fund the
deal, Ladbrokes will offer 93 million new
shares to investors, representing 10% of
the company.It has also recently cut its full-
year dividend of 8.9 pence per share to 3p; a
move long called for by many analysts. Un-
der the new terms, the private equity own-
ersofGalaCoral(includingApollo,Cerberus
andAnchorage)willown48.25%ofthenew
company, with the remainder held by Lad-
brokes'shareholders.
The merge will see Ladbrokes combine its
2,100 high street shops with Coral's 1,845,
in a bid to save the company from falling
further behind its competitors. Nowa-
days, high street betting chains are most
at risk from internet firms, such as Betfair
(LON:BET) and 888 (LON:888), which are
subject to lower tax bills, can compete for
business across the world and face few
of the fixed costs associated with owning
physical stores. As part of its strategic plan,
Ladbrokes therefore plans on launching an
aggressive online advertising campaign in
order to increase its online presence. Cur-
rently, Ladbrokes holds only 6% of the UK
digital market share, with Coral slightly
ahead with 8%. Combined, the two will ri-
val market leaders William Hill and Bet365.
Ladbrokes will have to face a number of
challenges before it can really focus on its
improvement strategy. Most notably, con-
cerns over its potential market dominance
could result in mass closures of shops and
losses of jobs. According to one analyst, as
many as 600 shops may have to be sold to
appease the Competition and Markets Au-
thority (CMA). Any of the closed stores are
likely to be of interest to rivals Paddy Power
and Betfred and, if purchased, they would
again heighten the competition faced by
Ladbrokes. With regards to job cuts, Leaver
has said, ‘I can't sit here and say that there
will be no job losses’.
But how will this move affect the gambling
industryasawhole?Asidefromfuellingthe
explosion of online betting, it is also pre-
dicted to spark similar deals amongst com-
petitors. This comes after higher taxes and
tough regulations are forcing companies
to look for new ways to strengthen them-
selves.Onlyamonthago,888agreeda£900
million takeover of rival Bwin.party (LON:B-
WIN), with more consolidations expected
in the near future.
Ladbrokes' first half results were released
earlier this week and they were disappoint-
ing to say the least. Profits had fallen 43%
to £24.7 million and its digital business
suffered losses of £12 million, compared
to profits of £3 million the year before. Al-
though the merger may help to improve
these figures, Mullen said it may take until
2017 until any real results are seen.
The biggest setback currently facing Lad-
brokes may be the recent concern coming
from analysts. According to Ian Rennard-
son, an analyst from the stockbroker Jef-
feries, Coral's online arm is only succeeding
because of its casino games; ‘we don't think
it is equipped to help Ladbrokes grow its
sportsbook’, he says. Jefferies has also stat-
ed that Coral is ‘not a perfect fit’ for Lad-
brokes and that the deal is ‘make or break’.
Following these revelations,many investors
have cashed in their shares and share prices
plummeted down by 1.89p to 104.71p last
week. Even more alarmingly, chief financial
officer of Ladbrokes, Ian Bull, has just sold
121,615 of his shares at 105.88p each.
The future is certainly not looking good for
Ladbrokes and, if the merger with Coral is
to be successful, it will require a strategic
plan that delivers both a successful online
business as well as satisfactorily resolv-
ing the competition issues. Only time will
tell whether the odds will again be in Lad-
brokes'favour.
BSc Geography
August 2015 27
The Internet giant has taken Wall Street by
surprise: Google is rebranding their name
toAlphabet.Google'ssearchfirmwillbethe
largest asset of the new holding company,
Alphabet.
Wall Street were in favour of Google's
move, after seeing shares initially rise by
6%, leaving investors feeling happy. Going
forward, Google's shares will be converted
into Alphabet shares, however, they will re-
main under GOOG and GOOGL on the stock
ticker symbols. Google's new structure is
reported to be similar to that of Berkshire
Hathaway (BRK.A), one of Warren Buffett's
holding companies. The restructure will
create a clean and more accountable busi-
ness; investors will receive greater insight
into the running of the business, especially
when the balance sheet is released in the
4th quarter. This will give investors a bet-
ter understanding of how much Google is
spending on its 'moonshot' projects. Moves
such as these suggest that the company is
looking to balance the interests of founders
and employees with investors.
The balance sheet will show advertising
revenue, search revenue and YouTube reve-
nue and will help distinguish the cash cows
from the dogs, as well as showing which
ones to pursue and which to withdraw.
Larry Page, co-founder of Google, warned
that Google was running the risk of becom-
ing irrelevant and it would need to rethink
its strategy in order to avoid falling behind
the speed at which technology is develop-
ing. There have been concerns that Goog-
le was not transparent enough for today's
technology industry, with too many port-
folios developing in the company. This was
taking the main focus away from the core
search engine. Google's strategy was be-
comingtoocomplex,withnocleardirection
and the moonshot projects were becoming
too far afield from the main search engine,
making it difficult to manage and control.
Google will redirect its focus back to the
main Internet products and the portfolios
will be obtained by the parent company,Al-
phabet. The restructuring strategy has two
arms; one, broadband (Google), and anoth-
er, investing (Alphabet). This has slimmed
down Google, refocusing their core objec-
tive on broadband, while Alphabet has
taken over the Life Sciences and Calico divi-
sions of Google's moonshot projects.
While Page will become the CEO of Alpha-
bet, Sergey Brin, Google's other original
co-founder, will fill the role of president.
This restructure allows Page and Brin to
continue pursuing their aspirations of cre-
ating new products and opening up more
opportunities for the business. Meanwhile,
Sundar Pichai, who has experience of oper-
ating Google's core businesses, has recently
been announced as the new CEO of Google.
Assigning the new CEOs to different port-
folios means that more attention can be al-
located to each independent profile, giving
the business more room to grow and inno-
vate without distractions.
This strategy has shown that Google is des-
perate not to become Microsoft. It refocus-
es Google's main objective to concentrate
on advertising, which is different from the
strategy of Microsoft. But it may not be that
simple; as Microsoft discovered with its
Windows business, focusing on one core
search firm is risky. When asked about the
future of Google, Larry Page said, 'Google is
not a conventional company. We do not in-
tend to be one', suggesting that they intend
tocontinuetoevolve.Google'snextobstacle
is to prove that its non-core business is prof-
itable in the long term and that is an effec-
tive use of both time and money.
BA Business Management
August 2015