5 Burst results for "Caroline Grady"
"caroline grady" Discussed on DUH:A Bangladeshi Podcast
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"caroline grady" Discussed on FT Big Read
"Welcome to the financial times. Bake read a weekly podcast, featuring the best for long form reporting from around the world. I am Caroline Grady from the opinion and analysis desk as Russia's relations with the west deteriorate Moscow seeking fresh alliances across Africa investment in natural resorts products, political support for strong men and use of Russia's security apparatus are all being used to gain a foothold across the continent. See Henry foyer Nastassja Astra, show sky and David pilling with most often sidestepping demands for reform or protection of human rights. This is starting to raise concerns in western capitals. This report is narrated by Henry foyer as protests raged in Zimbabwe's cities last week with police firing live munition at crowds who barricaded roads with burning tyres the target of that anger was eight thousand kilometers away. President MSN mnangagwa's who'd sparked the unrest. By raising fuel prices amid an economic crisis in the southern African country was instead strolling through the Kremlin for talks with president. Vladimir Putin, the festive what Moscow hopes will be many visits by African leaders this year amid deteriorating relations with western countries and diplomatic campaign to win new friends and partners in Africa is at the forefront of a sweeping foreign policy pivot by Moscow as it seeks fresh alliances to bolster its global geopolitical clout from ALgeria to Uganda. Russia's building influence in Africa lending support. Embattled strongman taking on natural resource projects and conflict states and positioning itself as a new powerbroker without the baggage of full McCullough Neil POWs as well as warm words for Mr Putin, Mr. mnangagwa's left Moscow with something more tangible agreements for Russia investment in Zimbabwe's diamond industry, a fertilizer supply contract and to financing deals with two hundred sixty seven million dollars while lacking the financial firepower of China will. The longstanding trade relations of former colonial powers Russia has sought to use its military exports security apparatus and the state controlled natural resource companies to gain footholds across the continent across Africa Moscow has deployed teams of military instructors to train elite presidential gods said on shipments and assisted shaky autocrats with election strategies. It has also promised to build nuclear power plants develop oil wells and diamond mines these diplomatic outreach is too old Soviet allies or countries previously overlooked by Moscow aimed at both increasing its way and unsettling rivals such as the US Britain and France in a region where they have long held influence Christian Milonga, an opposition politician in the Democratic Republic of Congo. Moscow has hailed Felix kiddie is the winner of the recent presidential election despite evidence of voting fraud says Russia was building on old Soviet ties. It's the Cold War two point. Oh, he says adding that Russia complimented China in what he saw as a strategy to. Challenge western influence, China is the money in Russia is the muscle. He adds the need for new alliances is become acute since two thousand fourteen when western sanctions were imposed against Moscow after its annexation of Crimea. All gluco, Cova senior fellow at the Africa institute of Russians academy of sciences says Russia has been reevaluating is diplomatic policies since the western sanctions came into effect Moscow realized it needs new partners. She adds Russia has managed to jump into the last carriage all partners already there, but it can compete well by offering both unique and cheaper services to African nations. Western countries are taking note in December US national security adviser, John Bolton announced a new strategy to combat Russia and China and Africa accusing Moscow buying off African nations. He said the predatory practices pursued by China and Russia stunt economic growth in Africa threaten the financial independence of African nations. And pose a significant threat. The US national security interests. It was the brutal mudder three Russian investigative journalists in the Central African Republic last July, the thrust Moscow's African endeavors into the spotlight shot dead in attack on that Jeep while driving through the countryside. The reporters were investigating the activities of Wagner, a Russian paramilitary company in a country where Moscow has expanded its presence rapidly in recent years that motives which local officials blamed on a robbery, but subsequent Russian investigative report suggests may have been orchestrated focused international attention on the role of Russian security assets. But state and private in the Kremlin's outreach to African countries. Alex vines head of the Africa program at the Chatham house. Think tank in London says western analysts, myself included, only really work up to this. The sudden appearance of significant clusters of Russian armed men. It was like my God. What have we missed them? Why have we missed this Moscow has sent planeloads of arms to the country alongside five. Armed forces personnel. And more than two hundred private military contract is to train hundreds of elite troops powdery Sokoto. A former Russian intelligence official is a national security advisor to see a president forced in Oshawa to a and Russia is setting up a team inside CEO's defense ministry this month during a visit to Russia. CEO's defense minister told state media that that was a possibility of Russia opening full military base in the country. Such actions have enough France Sierra's, former colonial ruler. And traditionally it's most prominent foreign ally Rolin Machel Russia Africa expert at seals. Bo says Moscow's approach of supporting African leaders through government back defense and industrial deals straight out of the Francke freak playbook of the nineteen seventies one thousand nine hundred eighty s when the state and commercial interests of Paris intertwined he adds is pure FRANZ. Freak change the flag. And you have the same methodology a senior European diplomat in Moscow says we don't know exactly what the doing in the Central African Republic, but we don't like it too much. We're not sure that the government is completely controlling everything. Well, the Central African Republic has dominated the headlines. Russia's activities increasing across the continent in two thousand seventeen Russia's trade with Africa raise twenty six percent to seventeen point four billion dollars. Russia soul twice as much weapon to African countries and twenty seventeen as it didn't twenty twelve according to the Stockholm International peace. Research institute between two thousand thirteen and twenty seventeen Russia's supply thirty nine percent of Africa's imported arms compared with seventeen percent from China and eleven percent from the US in two thousand fourteen Zimbabwe concluded an arms for platinum deal with Russia with a reported three billion dollars, bypassing both a European arms embargo and its lack of hard currency. Just what rights to the Darwin del platinum concession for the provision of an undisclosed number of make thirty five Friday jazz the list of Russian commercial engagements with Africa as long Russian aluminium group Roussel minds book side in Guinea Arosa. The Kremlin controlled diamond mine planning to end ZIM bubbly or already has assets in Gola on boats wanna Rosatom the state run. Nuclear monopoly is working in Zambia and Rwanda Russian geologists are active in Madagascar, a jury Libya in Ghana Rosneft, Russia's largest oil company is developing oil and gas fields in Egypt. Mozambican L geria- unrivalled Lukoil has projects in Niger. Area. Ghana and Cameron miss divine says Moscow and Beijing clearly competitors over natural resources, but the Russians went up beat China and Africa it is minor league in comparison. He adds, but with the US retreat that is space for Moscow to be mischievous. It is about optics and to certain extent smoke and mirrors to present itself as a global power the Russians are looking for areas where they can unnerve western opponents. Some of whom are truly shocked at what is happening takes Africa lost October. Former finance minister in London Ninna told them inquiry into so called state capture that he'd been sacked in two thousand fifteen because of his refusal to sign guarantees for one trillion rand seventy billion dollar nuclear deal with Rosatom his replacement would someone considered more pliable triggered such a shop full in the rand that. The incident came to be known as negate Mr. nenet said the deal would have been ruinous for South Africa would have benefited some of full president. Jacob Zuma associates include. The Gupta family at the center of allegations of state capture the cooped has owned a uranium deposit. The both they and Mr. Zuma have denied any wrongdoing in twenty fifteen Mr. Zuma flew to Russia for emergency medical treatment. And it was during his recovery that he is reported to have struck a deal with Mr Putin mcgillion Monday, a senior lecturer at the university of Witwatersrand says Russia never had a very strong presence in South Africa until Zuma got into power through him. They were trying to get in and gain control. Given the historically the Anglo American countries have been partners than the bricks countries came in and Russia wanted a piece of the pie. Well, Moscow is keen to build new relationships. It is no stranger to the region during the Cold War, the Soviet Union had strong ties with various African states supporting independence movements aimed at dislodging western colonial powers while Lauda. And so on Goethe's president studied at the elite Lenin political military academy in the late nineteen seventies. And it was the Soviet Union's nineteen. Fifty-six support for Egypt and the Suez canal crisis that helped force the UK Franzen. Israel to abandon the military action. Moscow has made this legacy a central pillar in its Africa outreach controlling its history of engagement without a former colonial powers, the Russian foreign ministry says in a statement Russian African relations have a rich history. While unlike the former global powers Russia has not tainted itself with the crimes of slavery and colonialism in the middle of the last century our country actively contributed to the Jeevan of national independence and sovereignty of African countries. Many African leaders are well aware of this alongside this Moscow is also willing to sidestep issues such as demonstra reform or human rights protection attacked it in that it has affected deployed in recent years to build strong ties in the Middle East. The senior western diplomat says in Africa, they present themselves as mediators as honest brokers. You see a common thread across Gola DRC, Mozambique. It's obvious. They're repeating. The successful Middle East ready and seeking to mind the Soviet legacy. So get up rub. Foreign minister said law week that Russia did not agree with outside countries. Calling for an investigation into the presidential election in Congo, which data published by the F T show was fraudulent. We do not interfere with elections. Mr. level of said, the Congolese people can handle this on their own. And it is important not to impose this or that agreement as is normally done by FRANZ, the US and other former colonial powers, according to Mr. Milonga, the opposition Congolese politician leaders such as Joseph Kabila who is set to step down as president of Congo. See Russia as a way round the west tough requirements on transparency and governance. He says all the actors like him attending back to Russia. We've seen that in Venezuela and with Assad in Syria, and that's basically what African leaders are looking for today this month. Russia's ambassador to Guinea a country that had close relations with the Soviet Union suggested that President Alpha Conde could change the concentrate. To stay in power for that. Ambassador Alexander brigades. They said constitutions dogma by below Koran giddy needs you today, and as the popular Russian saying goes, you don't change horses at a river crossing Moscow hopes that Mr. mnangagwa's three day. Visit will not be as only trip to Russia in two thousand nineteen. The Kremlin is hot at work arranging its first Russia Africa summit this year as the most prominent example of his outreach to the continent. It is aware that is success will be judged by the number of heads of state. They make the trip north Mr. mnangagwa's told Mr Putin in the Kremlin. Zimbabwe's under the yoke of sanctions imposed by western countries. However through these days of isolation you Russia have remained with us as a reliable partner. Thank you for listening. If you haven't joined this big read podcast, you can subscribe on all the usual channels. If you're not already an empty subscriber. Visit F T dot com forward slash offer. For our latest subscription offers. This episode was produced by Caroline, Grady.
"caroline grady" Discussed on FT Big Read
"Welcome to the financial times. Bake read a weekly podcast, featuring the best for long form reporting from around the world. I'm Caroline Grady from opinion and analysis desk Wells Fargo has lurched from one scandal to another and its valuation is no longer out of premium to other banks. The scandals have raised unsettling questions. Save Robert Armstrong, and Laura Newnan that many customers stayed loyal to the Bank. It's financial performance has improved. But to two trillion dollar cap on asset is still holding it back. This report is narrated by Robert Armstrong. Tim Sloan thinks that Wells Fargo is the best Bank in the world after more than two years as chief executive of the scandal riven lender. He is quick to provide evidence deposit growth loan growth returns to show that while the Bank has been wounded by controversy. It is now returning to its feet the view from outside. The group, however is very different in interviews with the financial times, dozens of investors academics, competitor's and employees ease describe a damaged brand a workforce held back by fear of repeating past mistakes and the immense difficulty of drawing a line under one of the ugliest banking scandals in an era full of them, a cutthroat sales culture in the retail division, where perverse incentives lead employees to open millions of false accounts and miss sell. Other products was ignored or brushed aside by the board and senior management until the story. Went public in two thousand sixteen wells first response when the problems emerged was mass firings of lower level employees more than five thousand were forced out only after this bad apple theory, failed to convince regulators politicians or the public was there aboard overhaul the replacement of most senior leaders and an effort to rewire the banks culture other instances of bad behaviour continued to come. Alight at wells. And the Bank remains under tighter regulatory scrutiny than any other US lender in recent memory prominent politicians said that Mr. Sloan who led wells wholesale banking operation while the misselling was taking place is not fit to lead the Bank. Mr. Sloan takes all this in his stride, consistent with what a colleague calls his unflappable down to earth, mid western style. He says when any politician is running for office they're trying to win. And when they do that, they will either mentioned us or not mentioned us to the extent that it's beneficial to their election. We understand that that's their business. His composure is drawn in part from the banks performance, which has been remarkably steady, given the enormity of the scandal. The bank's valuation will no longer at a premium is on par with other big American banks and some early signs of growth are visible, but wills considers itself more than just another. Bank. It was on top of the industry in returns, valuation and reputation. The question is whether it can reach those heights again, and there Mr. Sloane faces a very skeptical audience. Dave Ellison portfolio manager of the Hennessy large-cap financial fund and investor and financials for thirty years says with these type of stories the company's never get their premiums. Back. People have other places to go. Now wells is just another big me to Bank Perry. Pilose wells, head of wholesale banking describes the old Wells Fargo as a company that prided itself on decentralized decision making that's good for certain things. But it's not good for other things. The problem is that we did that for everything the description may understate some of the problems the Bank is faced an entrepreneurial culture in which business units and managers were left to take decisions and pursue growth. In response to local conditions extended to controls and comply. Science a strong culture of credit risk management was matched by precious little culture of operational risk management. The scandal. Raised an unsettling question. What if the management structure responsible for wells past success was ultimately unsustainable by reputation? The Bank had been better at assessing credit risk and had a stronger deposit taking franchise than any other lender. It was one of the big four holdings at Berkshire Hathaway along with American Express Coca Cola and IBM and Warren Buffett and praise. It's brilliant outstanding management in early two thousand sixteen will shares traded to times they're tangible book value while Bank of America and J P Morgan traded between one and one and a half times book. Now wells is traded down to Bank of America's level and J P Morgan has risen to become the only big US Bank to trade at twice. Book Gerard Cassidy banks analysts at RBC thinks that wills radically decentralized structure, which led to the scandal was also. So one of the reasons for the history of strong financial results. He says, I don't see the premium valuation coming back because of the way they do business. Now, they have put in processes that are an obstacle to that premium profitability underwriting decisions were not centralized a unique system that helped generate the extra returns as the Bank works to come in line with industry standards for controls and compliance when employee describes a sense, we're stagnating no real leaders have emerged to pull us out of wallowing in internal consensus-seeking. They sit on every problem and give us the same pep rally. Happy talk the employee says rivals say that wells chasing by its past mistakes become scared of its own shadow. Even Mary Mack, runs wells massive consumer Bank says staff are still more cautious than you'd want them to be those closer to wells, including ten senior executives who spoke with the F T argued that the bank's core strengths in credit creation and deposit. Taking remain Mr. Sloan. On points out that primary checking accounts, a key yardstick for what retail customers think of the Bank are increasing at a rate of nearly two percent recovering from zero growth immediately after the scandal broke, but still less than the five percent in the two years before it when wells reports fourth-quarter earnings this week investors will hope to see the momentum continue well loan growth hovered around zero after the scandals broke it never tipped into negative territory. Mrs Mack says existing customer stuck with us customer retention is at a year high. It was with perspective customers choosing between us and another Bank that we got hurt Mr. pilose, the head of wholesale banking agrees. He says I've been in some awkward conversations. But by and large our customers have stuck with us. They know their banker our results have been okay. Because of that new customers have been harder to convince he suspects the scandals have made corporate clients cautious. Thing to themselves. I'd hate to be the CFO that recommended wells to my board. And then something else happens financial services is a sticky business customer relationships. Once one are hard to lose. Whether resilience of wells franchise is down to this inertia weren't that unique characteristics of the company it's long history and small and mid sized American communities is open to debate wills business proves sticky in another sense following the scandals. There was no exodus of executives. Several head hunters specializing in banks profess surprise at the low level of turnover at the top of the Bank. One senior executive at wells says on his decision to stay I've been heavily recruited for other jobs. The opportunities are great for people here. Wells key challenge, then is winning with new customers. But that means getting back to selling win an out of control sales culture is exactly what got the Bank in trouble. The banks. Leaders are acutely aware of the balancing act. John Shrewsbury chief financial officer says employees have really adopted more of a compliance mindset, and a customer experience mindset, rather than a convert customers and expand the business mindset because that was near the center of what created problems wills has another reason for optimism Rupert younger who leads the Oxford centre for corporate reputation argues that customers are much faster to forgive scandals of character like wells than scandals have competence. He says wells will bounce back in two or three years. They will be fine. Wells is arguably receiving closer scrutiny and tighter regulation on a sustained basis than any American Bank ever has as it overhauls its governance and compliance regimes it is operating under to consent orders. One from the Federal Reserve Board and one issued jointly by the consumer finance protection bureau. And the office of the comptroller of the currency. The Federal Reserve has capped the bank's balance sheet at two trillion dollars until it is satisfied that adequate controls are in place. One lawyer specializing in financial regulation says this amounts to an open ended policy experiment executives at the company acknowledged that they are aiming at a moving target. As regulators will only know what is good enough when they see it asked if the Bank was on the same page as the regulators Mr. pilose says that in an outline in a classical sense for the big Roman numerals. We absolutely are. But for the details there is no checklist. No playbook for this. The sense that there is no clear. Endgame has been compounded by a steady flow of news. Reflecting regulators continued disatisfaction with wells most worryingly in October the Bank placed it's chief administrative officer and chief auditor on. Leave reportedly after the OCC sent each of them letters informing them that it would pursue sanctions against them. A former federal Bank supervisor told the F T that such letters sent after regulatory intervention has been proceeding for years suggested that regulators were still discovering problems not just fixing them with the campaign for the twenty twenty election already starting wills Fargo will figure in the partisan conflict over president Donald Trump's deregulatory agenda, Maxine Waters, the democrat who has just become head of the house of representatives financial services committee said last year that something is terribly wrong at wells in October. Elizabeth Warren the likely presidential candidate who sits on the Senate banking committee said the fed should not remove wells asset cap until Mr. Sloan who she says is deeply implicated in the Bank scandals is removed. If the company cannot get the asset. Cap removed in the first half of this year as it has promised investors. The pressure to remove Mr. Sloan will become intense. The fed refused to comment on any of its dealings with wells one analysts asks who is qualified who wants the job listing potential candidates, including former US Bank Corp, boss, Richard Davis, PNC chief Bill DEM check. J P Morgan retail banking boss, Gordon Smith and former Goldman Sachs chief operating officer Gary Cohn. The analysts says all have no interest reports suggesting that Mr. Cohn has already declined an approach are strenuously denied by the company. Mr. Sloan says it didn't happen yet. The banks leadership knows it is at the center of a political battle. Mr. Pilo says got treated worse than companies who have killed people because it's good political fodder. Thank you for listening. If you have enjoyed this big read putt cast you can. Scribe on all the usual channels. If you're not already an F T subscriber. Visit F T dot com forward slash offer. For our latest subscription offers. This episode was produced by Caroline, Grady.
"caroline grady" Discussed on FT Big Read
"Welcome to the financial times. Bake read a weekly podcast, featuring the best for long form reporting from around the world. I'm Caroline Grady from the opinion and analysis desk, the data broking industry has been pushed into the regulatory spotlight falling last year's data harvesting scandal at Cambridge Analytica and the introduction of new data protection legislation in Europe industry executives are hoping that recent organizational changes will fend off a much tougher assault on their business model from anxious regulators. This report is narrated by Aaliyah. There are many personal details that Paul Livia to Hayes willing to share online. But the behavior of his bladder is not one of them yet when the Belgian privacy campaigner requested his data from tech company, a Moby he found the business at predicted that on June ninth. He was likely to suffer from overactive bladder a legal Representative for a mobile explained in an Email to Mr. de hey that the data had been licensed from the weather company. A business owned by technology giant IBM, the weather company had decided based on hot weather conditions, and Mr. Hayes area that he was likely to have an overactive bladder and buy more drinks on that day. The Email said the overactive bladder category targets, a mix of weather conditions that Kula symptoms of overactive bladder to flare up, enabling advertisers to message when o a b is most likely to be top of mind. For sufferers few internet uses. We'll have HUD for Moby a US company that sells advertising insights the. Likes of Airbnb publicists and Lexus, but the business is just one of a constellation of advertising. Technology companies Daytona lyrics firms and credit reference agencies that make up the rapidly growing data broking industry that industry is now very much in the regulatory spotlight in Europe. While the practices of these businesses have been investigated in the US for a number of years regulates in Europe on now for the first time looking closely into their activities in the wake of the Cambridge on a let data harvesting scandal last year and the introduction of the general data protection regulation. Europe's new privacy law businesses that for years have operated largely in the shadows face the prospect this year of heightened scrutiny as public opinion shifts on questions of privacy. The regulators have made it clear that they are deeply uneasy about the way the industry has been operating. Matias Moulin directive for the protection of rights and sanctions at the French data protection watchdog CNIL. Says they are all processing personal data. There is absolutely no doubt about that. They will try to say that it's anonymous to lower the pressure from the public, but that's not true. They know that and we know that while much of the attention lost year focused on the use of data by tech giants such as Facebook regulators and policymakers from the UK France and Ireland who are examining the data mining business attending that attention to the interlocking universe of lesser known brokers. That have also flourished as people spend more time on line in November privacy international the campaign group ost European regulators to investigate seven brokers including software giant oracle after accusing them of breaking European data protection laws, Elizabeth Dunham. The UK's information. Commissioner says we are concerned about whether or not that practices are compliant with the laws. We're looking at how they conduct that business, and that general compliance with GDP Cetinje there is a dynamic tension between the way the businesses. Are conducted and the principals in the GDP data burqas mind treasure trove of personal location and transactional data to paint a picture of an individual's life, tastes and books. So music hobbies dating preferences, political or religious leanings and personality traits are all packaged and sold by data brokers to a range of industries, chiefly banks and insurers retailers telecoms media companies and even law enforcement and governments the European Commission. Full costs the data market in Europe could be worth as much as one hundred six point eight billion euros by twenty twenty Jeffrey Chestha, executive director of the center for digital democracy. Based in Washington DC says the explosive growth of online data has led to the emergence of the super data broker. The privacy death stars such as oracle Nielsen and Salesforce that provide one stop shopping hundreds of different data points, which can be added into a single persons. File over the past five years, the data broker industry expanded aggressively in what amounted to a virtual regulate revived cume. The rise of internet connected devices has fueled and enhanced industry of cross device tracking that matches people's day to collect from across the smartphones tablets, televisions and other connected devices. It can also connect people's behavior in the real world with what they are doing online Gabriel waza partner in international privacy and data protection at bud and bud. The law firm says the dream for the industry is to be able to connect the online and offline worlds to have a three hundred sixty degree view of the customer while brokers
"caroline grady" Discussed on FT Big Read
"Welcome to the financial times. Big read a weekly podcast, featuring the best for long form reporting from around the world. I'm Caroline Grady from the opinion and analysis desk. The November sentencing of British academic to life in prison for spying rare public spat between the UK and UI say Andrew England and Simeon Kerr the subsequent pardon brought an end to the diplomatic row, but has led UK and US institutions to reassess their links to oil-rich states foreign funding, if British academia is less transparent than that in the US, but tens of millions of parents have come from golf entities raising questions over whether this influences research on the region damages the reputation of institutions or enhance his academic ties. This report is narrated by Andrew. When my few hedges Dharam university PHD student said Fono two week trip to the United Arab Emirates who's falling into dish in of British academics conducting research in the Arabian peninsula. But as he tried to leave the boy may he was detained Helvin sort. She can plummet in w for six months and sentenced to life in prison for spying. His sentencing triggered a rare public spat between the U K in one of his closest Middle East is both sides now appear keen to move on to the UAE, pardon Mr. hedges in November, but British academia may find it more difficult to return to businesses usual the hedges case revived western scrutiny of the Gulf Android in relationship. UK universities have long enjoyed with the oil-rich region. Some US institutions are also reassessing their ties with Gulf entities in the wake of the October murder of dramatic Shoji by Saudi hit scored a preliminary report by MIT and its links Saudi donors and sponsors found. No reason to end the relationships, but Harvard. Toes and not renew a five year fellowship program with misc- foundation. Saudi Crown prince Mohammad bin Salman is charity in the wake of the Justice killing US senators that they believe prince Muhammad the kingdom's de facto leader or the operation against Chevy prince Bahamas has denied any involvement in the killing and Riyadh is blamed it on a Rogle peration, the debate about university links to the Gulf underscores how the repercussions of the hedges and Shoji cases are being felt far beyond the political corporate worlds for western governments. The dilemma is the payroll bust in the responses to the incidents while maintaining relations with key allies, but Franken is particularly sensitive as they seek to balance that traditional positions as defenders of human rights and freedom of expression with longstanding financial educational and research relationships William e granola threat through of harvest center for Middle Eastern. Studies says it's going to make us a lot more conscious of and careful about how we look for money. How accept money the lace incident is going to keep us all on our toes. Confident assertive and Kintu executive power Gulf countries have been pouring hundreds of million dollars into top academic institutions in the UK and the US fee is between them the six Gulf states. Saudi Arabia, the U A Qatar Kuwait, Bahrain and Oman have provided two point two billion dollars to US universities since the beginning of two thousand twelve to June this year, according to financial times analysis of the US education department's foreign gifts and contracts report, the Gulf total represents just under a quarter of all foreign gifts and contracts over that period. Qatar the world's richest state in Pepita terms lead with one point three billion dollars for by Saudi Arabia with five hundred eighty million dollars and the UAE with two hundred thirteen million dollars. The figures include funding from state oil companies such as Saudi Aramco in Qatar petroleum, Gulf universities and cultural missions much of the money also goes to shoot fees react funded about one hundred ten. Two thousand US scholarships for Saudis between two thousand five in two thousand fifteen there is less transparency of a foreign funding to UK institutions, but Gulf entities have donated tens of millions of pounds to the countries leading situations, primarily to them. Middle East centers research by academe IX, Tunas Bergen reggae and Martin Lester published in the Middle East law and governance journal in two thousand fifteen estimated Gulf entities, provided at least seventy million pounds to UK institutions between nineteen Ninety-seven and two thousand and seven Oxford University says it has received seventeen point seven million pounds from Gulf states since two thousand excluding donations to individual colleges. We've more than six million each from Saudi Arabia and kettle about one percent of its total donations come for the Middle East that also excludes funding for the Oxford centre for Islamic studies, which is described as a recognised independent centre the university and was built with a twenty million pound or nation from King Fahd the late Saudi monarch came. Is university received eight million pounds from Saudi billionaire prince our laid into Lau in two thousand and eight to establish a center for Islamic studies and gifts totalling about seven million pounds of Sultan, Qaboos bin side outside Oman's ruler. For the establishment of two professorships? Richard Kay, Lester MIT's, associate provost to the university's a newsletter that his recommendation that it not terminated ties to Saudi donors was a tough call because none of us wants to lend the Eze too grotesque actions like the assassination kashogi he added, but the judgment I have made is that unbalanced benefits provided by the work. We are doing outweigh the impact of any kind of reputation support our activities may provide to those in Saudi Arabia responsible. These malevolent actions of our academics. More skeptical. One close the hedges case says, I doubt it will be business as usual, and nor should it be. There is also a deeper question that some economic say needs to be addressed the extent to which Gulf funding may influ. Since research on the Middle East a region, west some topics are two boo and critics and dissidents are jailed Mr. hedges was researching the sensitive subject of military development in the Gulf of the two thousand eleven Arab uprisings Kristen coach Gullikson a Baker institute fellow for the Middle East says it's not easy to track. But if sentas want to save God funding streams than they might even commission research that falls within a specific remits, and perhaps not commissioned research that doesn't or individual academics might feel. They don't wish to cross certain lines. In case. The funding is jeopardized. Mr. L Ricksen is a former co direct to the London School of economics QA Burgum on development, governance, and globalization in the Gulf states, a ten years scheme launched with a five point seven million pounds donation from Kuwait foundation in two thousand seven it was renewed for another five years in two thousand seventeen of a two point seven million pound grant, he says the only time he had an issue as head of the program was when Kuwaiti donors called complain about an article. He had written about protests in the Gulf state in two thousand twelve but he later Ricksen was denied entry to buy airport after he'd wrote articles critical of Bahrain and the UAE the LLC responded to miss all Wrexham's exclusion by canceling a conference in the UAE. It's the Ricksen believes a lot of people may self censor to avoid a similar fate. It was the first time at a C was plunged into a control Vesey of Middle East money in two thousand eleven as Libyan's rebelled against move market Daffy scandal erupted at the university ever one point five billion pounds Aristide from the Qadhafi foundation run by the late dictator's, son safe his lamb, the LSE's director resigned over the affair the NFC also received nine million pound commitment in two thousand and six mostly from the US emerets foundation to establish a set of a Middle East and has a two point five million pound Letcher fit in named after exiled bin Sultan, L Narcan, the nation's founder, professor Toby dodge, director of that center from twenty four. Eighteen to twenty eighteen says, we've all learned the lessons of what you don't do after the Libyan debacle. I'll pluralistic overlapping critic research is beyond reproach. He says it has fervor the academic study of the region. It has an any way lead to self censorship. But he adds you have to be incredibly careful proponents of Gulf funding, say universities relations with Gulf states have enhanced academic ties and neighbor the transfer skills and fostered collaborative research of us point two long. Standing ties between Gulf royals in UK and US institutions we've many attending British and American universities as well as military academies such as scientists in the UK, which is fostered philan- Frey from Arab alumni updo Hollick. Abdullah a UAE academic and commentator. He was defended the US position in the hedges case says UK universities of the oldest Gulf Inc. Tanks in the world. After the September eleven two thousand one attacks in the US Riyadh ramped up its foreign scholarship program with the aim of. Raising the education of young Saudis, and exposing to different cultures. It was also considered an important part of the kingdom's efforts to rehabilitate his reputation for the students interaction with western societies Harvard, professor and honorary knowledge is that donors may have national agendas, but says university is a pretty clear when they take the money. There are no strings attached. But other academics believed the small is not always a day to ticky where funding goes to Middle East research centres Madawi our sheet a Saudi critic and a visiting professor the LSE's Middle East center says universal meant to uphold certain values in objectively and funding from Gulf countries, especially those notorious reviling human rights tarnishes the reputation of these centers, they the Gulf donors are creating sphere of influence the universities as an indirect inference route on the direct one. A British academic says that when he published an article on a Gulf state a seeing member of his UK university emailed him reminding him the subject was eight donor and longtime partner of the universe. So please bear that in mind the academic who was at Neva he know the institution be identified late. Let university he says there is no doubt. I would have had to leave on a moral basis. Would you accept to grant from a Kremlin official name a building after him? Obviously, not a similar debate has been simmering in Australia amid concerns about Chinese influence after a series of multi million dollar donations universities by Chinese businessman with close ties to Beijing, including Alibaba founded, Jack Ma and Chow Chow wing who chairs the king gold group. There's been did research into ever foreign funding influences, British universities, but the paper by Mr. Bergen drag and Mr. Lester done that before the two thousand eleven Arab uprisings Gulf funded British institutions, but less likely to raise issues, democracy and human rights, a much less issued a gender instead, they focused more on topics such as you employment and education off to the two thousand eleven protests, all institutions paid more attention to moxy in human rights. But. Those funded by Gulf entities continued to be somewhat less likely to raise these issues. Mr. Bergen dragging a post doctoral, fellow at Harvard said that does not imply self-censorship over that the work is more credible itself funded universities. He says the main difference is more of a focus tools that donor countries and the output targeting that country focuses less so on certain topics. He adds it emphasizes some of the issues and not other issues such as gender rights and democracy. We don't know if there's a direct causal link. An issue academe IX repeated referred to his winding state funding for British universities. The inquiry into the Libya scandal at British universities have to embark on fundraising on the international plane on a scale that until recently was relatively unknown. It added the scale of global peration case ethical and reputational risk. Mr. oryx says the funding climate has changed. So drastically over the past ten to fifteen years, they're almost forced to raise money. Elsewhere. And the Gulf is prioritize for this soft power to things education and sport in recent years, numerous western institutions have also established satellite campuses in the UA in cattle US universities, Georgetown, Texas, A and M and north western alongside Britain's UC L are among those of a presence in Doha New York University and the Sorbonne have campuses in Abu Dhabi, but not all ACA democ so happy with the situation. Optimistic hedges was sentenced off Birmingham university supported an emergency union. Motion to boycott a new campus that opened into by this year. The decision was made of a concerns about staff safety and the universities failure to guarantee academic freedom on the campus the relationships risk being further complicated by its regional rift that pits Saudi Arabia and the U E against Utah with all sides bent on using their software to promote their message. The danger for academics is that the research and ties become politicized. Professor adults that the NFC says there is a competition for influence globally between both sides of that dispute and that his foot out across London Washington across the world. And that makes it difficult for anyone in that game. Yeah. Or anyone else to stay restraint? Poff what I would do is not pick signs. Thank you for listening. If you haven't joined this big read podcast. You can subscribe on all the usual channels. 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