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...Gambling was meant to bring development to this sleepy former Portuguese colony - and it has. Between 2004 and 2006, $3.3 billion of foreign direct investment flowed into the territory, and the effect on this city of just 540,000 people can be likened to filling a teacup with a fire hose. Since 2003, GDP per capita has doubled, wages have risen by two-thirds and the unemployment rate has fallen by half. The economy grew 27% in 2007 alone...

Author: /time Magazine | Title: Split Personality | 7/31/2008 | See Source »

...April 18, 1945, with the Third Reich on the verge of collapse, Army Lieutenant Michael Daly was leading his company through Nuremberg, Germany, when it encountered machine-gun fire. Shielding his men, Daly crept forward alone and single-handedly vanquished 15 German troops in four separate firefights. For these acts of heroism, Daly was awarded the Medal of Honor, the military's highest decoration. Daly also earned three Silver Stars, two Purple Hearts and a Bronze Star during his service...

Author: /time Magazine | Title: Milestones | 7/31/2008 | See Source »

Rolling Stones' publisher sues LIL WAYNE for sampling Play with Fire. Can't say they didn't warn...

Author: /time Magazine | Title: Pop Chart | 7/31/2008 | See Source »

...gesticulated frantically at two platform colleagues. I remember glancing down under the driver's carriage and telling my girlfriend not to look, and noticing how reassuring the warm bodies of the passengers felt as we crowded into a packed elevator to leave the station. I remember a blur of fire trucks and ambulances (how did they get there so fast?), the screaming sirens and, later, a woman I recognized from my carriage pretending to browse a window of real estate ads as she wept...

Author: /time Magazine | Title: Suicide on the Tube | 7/29/2008 | See Source »

Leaving Sadr City that afternoon, Mohanid gets a call on his mobile phone. "The American base is on fire!" he exclaims with a grin. True enough, it is. On the southeast edge of Sadr City, residents watch as flames sputter from the broken windows of a multistory building on a joint American-Iraqi base. A helicopter hovers through the thick black smoke above, airlifting Iraqi police who have been trapped on the roof, as powerful hoses blast the flames with water from below. But this was no product of the Mahdi Army, which has kept to its official "resting" stance...

Author: /time Magazine | Title: Will Peace Hold in Sadr City? | 7/29/2008 | See Source »

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