Finance

How Isis became the wealthiest terror group in history

Fighters of the Islamic State wave the group's flag from a damaged display of a government fighter jet following the battle for the Tabqa air base, in Raqqa, Syria
AP

Islamic State militants are better resourced than any other terrorist group, according to intelligence officials Islamic State (Isis) militants are taking in more than $3m (£1.8m) a day through oil smuggling, extortion, theft and human trafficking, say intelligence officials and experts. Aid workers, researchers and intelligence agents say that as the group has taken over sections of Iraq and Syria ... Read More »

Russia and China may destroy petrodollar

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Actions of the West in Eastern Europe and ongoing pressure on Russia may eventually intensify the movement to combat the petrodollar. The biggest danger to the oil currency is likely to be related to China and its plans to increase the role of the yuan in the world.Russia and China currently discuss the creation of a system of inter-bank transactions, ... Read More »

Hungary’s Navracsics to be Commissioner for Education, Culture, Youth and Citizenship

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European Commission President-elect Jean-Claude Juncker has unveiled on Wednesday the next European Union executive for the 2014-2019 period. The team will have to be approved by the European Parliament. As it turns out Hungary’s Tibor Navracsics will not be Commissioner for Trade or Commissioner for Customs, as suggested by previous press reports – Juncker surprisingly picked him to be Commissioner for Education, ... Read More »

Syria’s Cultural Artifacts Are Blood Diamonds for ISIS

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The destruction of Syria’s cultural heritage could have even more widespread ramifications than we realize, the Wall Street Journal reports. Christian C. Sahner takes a close look at the motivation behind the widely reported destruction of religious, historical, and cultural sites, arguing that “the nation’s heritage has been used as a weapon to finance bloodshed, to settle sectarian scores, and to erase ... Read More »

Canadian Museum for Human Rights Nears Opening After Difficult Decade

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After years of planning and controversy, the Canadian Museum for Human Rights (CMHR) is officially opening on September 20 in Winnipeg, Manitoba. With a $351 million design of glass and bending lines by Antoine Predock, crowned by a 23-story “Tower of Hope,” its 47,000 square feet of gallery space are the elaborate setting for an ambitious mission. It’s been quite a decade of a journey for the ... Read More »

NASA is building the largest rocket of all time for a 2018 launch

(NASA/MSFC)

The plainly-named Space Launch System is designed to take astronauts further into space than ever before Artist’s rendering of NASA’s Space Launch System (credit: NASA/MSFC) NASA has worked on some inspiring interplanetary projects in the last few years, but few have been as ambitious as the simply-named Space Launch System, a new rocket that will be the largest ever built ... Read More »

NAB warns of at least £250m in UK misconduct provisions

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National Australia Bank’s new chief executive Andrew Thorburn said the bank will make additional provisions at the full-year result for misconduct issues in the United Kingdom, which have plagued the bank for several years. Mr Thorburn said misconduct charges in the UK were “difficult to predict”. NAB on Monday reported to the ASX third quarter cash profit of “approximately $1.6 billion”, up ... Read More »

Russian banks to switch to Russian software

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The Central Bank of Russia strongly recommends all Russian banks to use Russian software to themselves against the loss of rights and licenses for the use of bank programs. This was stated by Chairwoman of the Central Bank of the Russian Federation  Elvira Nabiullina. Russian credit organizations are to ensure such protection already from September 1, 2014. Previously, experts expressed concerns that ... Read More »

Forests for the future: Kenya’s carbon credit scheme

Elephants forage in Tsavo East National park in southern Kenya, on March 20, 2012

When 61-year old Mercy Joshua was young, the vast forests of southeastern Kenya teemed with wildlife, but decades of unchecked deforestation by locals have devastated the land. She watched forests dwindle and rivers dry up across her homeland of Kasigau—a semi-arid savanna grassland dotted with shrubs, woodland and small rugged hills—as people cut down the trees to scratch a living ... Read More »