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Business Daily: Islamic State's Well-oiled Money Machine

20/10/2014

Islamic State's Well-oiled Money Machine

BBC World Service - Business Daily, Islamic State's Well-oiled Money Machine

The smuggled oil that's fuelling Islamic State's military machine

We chart the oil smuggling that is fuelling Islamic State's military machine. And why is the global art market set to beat all records again this year?

We look at the money that's oiling the wheels of Islamic State's military machine. It takes a good deal of smuggled oil to fuel the tanks and humvees rumbling across northern Iraq and Syria. We hear from Dr Valérie Marcel, associate fellow at the thinktank Chatham House, on what those fighting IS can do to turn off the taps? 

Also in the programme, why is the global art market set once again to beat all records this year? We hear from Ryan Gander, a British modern artist at London's leading art fair, and from art dealer Dominique Levy. And, how smart is your boss? Lucy Kellaway of the Financial Times wonders whether the most talented graduates rarely stick around at big institutions, they strike out on their own leaving only the mediocre behind to run the world's biggest businesses.

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