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...waters off the Horn of Africa. This year alone, pirates based in Somalia, where any semblance of a functioning state broke down years ago, are thought to have attacked more than 90 ships. In a recent 48-hour period, they apprehended vessels from Greece, Thailand and Hong Kong, and on Nov. 15 took the biggest prize of all, the Saudi supertanker Sirius Star, laden with an estimated $100 million in crude...
...aren’t feeling retro enough with the stock markets of 2008 being at roughly the same value as those of 1998, then I’d suggest looking to the high seas ,where this year seems more like 1708. Two days ago, pirates seized a Hong Kong-registered cargo ship, the Delight, in the Gulf of Aden. According the International Maritime Bureau (IMB), the Delight, which is now bearing toward Somalia, joins 17 other ships currently being held by pirates. This week has been particularly successful for piracy: Last weekend buccaneers captured a Japanese-operated chemical...
Even at the best of times, Hong Kong is one of the world's more stressed-out cities. Life for its seven million residents is a tension-filled mix of long working hours, fierce career competition, and the constant pressure to make more money to survive high rents and costs. So in these times of economic duress, with plunging stock prices and rising unemployment, that stress can boil over. In October, Caritas, a social services organization, set up a special government-funded hotline to counsel those suffering from the economic downturn. In the first month, Caritas received more than...
This rivalry is old. It’s even older than some of Harvard’s most famous internal rivalries, like the Crimson versus the Lampoon, the Hong Kong Restaurant Bar and Lounge versus 8,000 years of beautiful Confucian tradition, the Chickwich versus the food pyramid, the Harvard Voice versus Spare Change, Dorm Crew versus people who shit everywhere, the Isis Club versus True Love Revolution, and Lucy Caldwell versus journalism...
...chief economist at Credit Suisse Japan. "The economy is less vulnerable." Nevertheless, he says, Japan is not an island: nothing points to an economic recovery in Japan unless the global economy picks up. According to Andreas Schuster, head of research at CLSA, a private-equity firm based in Hong Kong, "It won't be pretty, but it will be less tough than in the Western economies." (See pictures of the global economic crisis...