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...United Arab Emirates city-state of Dubai have for months breezily dismissed concerns about Dubai World, the government's main holding company for investments and real estate developments. "We are not worried," said Dubai's Emir, Sheik Mohammad bin Rashid al-Maktoum, at a press conference two months ago, despite the fact that Dubai has debts that are at least 100% of GDP - and may be closer to 125%. When critics later complained that Dubai had no realistic plans for paying off its debts, al-Maktoum told them to "shut up." But on Thursday, as Dubai's government announced...
...Eighty billion dollars - Dubai's total liabilities - may sound like a lot of money but in the context of the past year, it's not huge. And while banks like HSBC and Barclays have billions in exposure to Dubai, they are also better capitalized than they were a year ago, and thus more able to withstand hits of this size. (See the top 10 bankruptcies...
...outdo ourselves with ever more ambitious offerings. Last year we produced a turducken - a southern classic consisting of a turkey stuffed with a duck, stuffed with a chicken stuffed with oysters. We couldn't find oysters so we substituted frozen shrimp miraculously procured from the local fishmonger. Two years ago we encased one of the turkeys in clay and roasted it over coals for several hours. The result was extraordinary - fall-off-the-bone tender, but with a crispy skin. This year, Turkey a la Istalif, so named after the pottery village where the clay comes from, will be making...
Quince Mil sits at a strategic point on one of the final legs of a new highway that will link Peru's Pacific coast to Sao Paulo on Brazil's southern Atlantic coast. A few years ago it would take a week to get from Cuzco, in the Andes, to Quince Mil, with the road reaching elevations of 14,000 feet and descending fast into thick, tropical forest. The same route, now being paved by a Brazilian construction company, will take around six hours when the road is finished. "The road means radical change for the population...
...Mohammed Ajmal Amir Qasab will proceed as on any other day. Prosecutor Ujjwal Nikam has called more than 270 witnesses over the last six months, and the last of them, including the main police investigator, are expected to appear on Nov. 26, the day the siege began a year ago. Nikam is already well-known after spending 13 years as the main prosecutor in the trial of the perpetrators of the 1993 Mumbai bomb blasts. In comparison, he says, this case will be completed in "record time." It began in mid-April, and a decision is expected within three months...