Word: easting
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When Russian tanks trundled into Georgia in August 2008, it dawned on the European Union that it should have been paying more attention to the volatile Caucasus and Black Sea regions right at its doorstep. Turkey - strategically placed between the Balkans, Black Sea and Middle East - is fast becoming a big regional player. It's no surprise that President Obama is fulfilling his pledge to visit a Muslim-majority country within 100 days of taking office by dropping in on Turkey. The new Administration sees Ankara as a key ally in dealing with many of its biggest noneconomic issues...
...brought up to a state of good repair (a visit to any subway station will indicate they're not there yet), the city doesn't have the power to enforce it. Similarly, the plan pushes new projects like the long-awaited Second Avenue subway line on Manhattan's far East Side. Those multibillion-dollar improvements were to be paid for in part by implementing congestion pricing in Manhattan - charging drivers to enter the most crowded part of the city. As an added benefit, congestion pricing would have helped unclog New York's sclerotic traffic, which now costs the city...
...meant to give the impression that Kim Jong Il is back running his benighted country after a stroke last summer. And then there are those shown here, of Kim at an indoor swimming pool. He looks old, frail and sick. The pictures, according to diplomats and intelligence analysts in East Asia and Washington, capture reality. Kim is 68, and though it is thought he has made a reasonable recovery, he has apparently not resumed all his duties as North Korea's absolute ruler. That is focusing the minds of analysts on two related questions: Who will succeed Kim when...
...either directly or through cutouts. Trade with China has plummeted, in part because of the sharp drop in prices for commodities such as zinc and iron ore, which the North exports. That has "seriously cut the incomes of any number of military officials who benefit from that trade," an East Asia intelligence source says...
...Rubenstein didn't deny that easy credit also boosted profits. And at the Buyouts East conference in New York City in late March, I heard another industry veteran, George Siguler of the firm Siguler Guff & Co., paint a grim picture of private-equity returns in a deleveraging and struggling economy. "The available universe of companies that buyouts can buy is essentially mediocre companies, and mediocre companies are going to have a much tougher time," he said...