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...home in Ahmadabad, Gujarat's largest city. Ahesan accused Modi and 62 others of hatching a "well-executed and sinister criminal conspiracy" to effect a "deliberate and intentional failure" of the state government to protect the life and property of its citizens. Says New Delhi-based political analyst Amulya Ganguli: "Modi tried his best to scuttle the investigation - some 2,000 cases were closed. But now the [Supreme Court] has reopened most of them, has had to transfer some of them outside of Gujarat. All this time, Modi himself had escaped the fire, but now, the law has caught...

Author: /time Magazine | Title: The Fiery Hindu Nationalist Who's Roiling Indian Politics | 4/29/2009 | See Source »

...domestic corporations. In December, he defaulted on $3.2 billion in foreign bonds, close to a third of the country's foreign debt, citing evidence that they were "illegal" and "illegitimate." "We're living a process of change that we hadn't seen before," said Fernando Cabrera, 55, a financial analyst, at Correa's victory rally in Quito. "He is breaking down archaic structures set up by the economic upper class...

Author: /time Magazine | Title: In Ecuador, a Win for the Left May Be Good for Business | 4/28/2009 | See Source »

...presumed base of support. A workaholic micromanager who peppers his ministers with cell-phone calls, Correa backed new legislation designed to develop untouched deposits of gold and copper, angering indigenous groups and environmentalists. Communists rail against his introduction of testing of public-school teachers. "Correa isn't stupid," says analyst Margarita Andrade at Analytica Investments in Quito. "At the end of the day, he has been pragmatic." (Read about a lawsuit by Ecuadorians against oil giant Chevron...

Author: /time Magazine | Title: In Ecuador, a Win for the Left May Be Good for Business | 4/28/2009 | See Source »

...eight to 10 years. He will "accelerate and deepen" the changes he started when he took office in January 2007, he said. More important, for business interests, the string of wins at the polls gives Correa no reason to shift to a more radical socialist position, says Latin America analyst Patrick Esteruelas at Eurasia Group in New York City. Instead, says Esteruelas, "Correa will enjoy greater flexibility to make some macroeconomic-policy adjustments to buttress liquidity and prevent a banking and currency crisis." The pragmatic Correa probably knows that such a confrontation could cost him the presidency...

Author: /time Magazine | Title: In Ecuador, a Win for the Left May Be Good for Business | 4/28/2009 | See Source »

Rafael Camarena, a Mexico-City based analyst for Banco Santander of Spain, is convinced that government's strong-arm tactics will prove that Mexican authorities, criticized for ineffectiveness on other issues, can make the tough decisions - even if the virus threat proves to be exaggerated. "The authorities are being decisive and firm. This will help the economic damage be a short term thing and build up confidence in Mexico," Camarena says. However, for many in the service sector, the mayor's crackdown is seen as the equivalent of a nuclear attack on their already struggling businesses. Daniel Loeza, vice-president...

Author: /time Magazine | Title: Shutting Down Mexico City: Health Measure or Economic Disaster? | 4/28/2009 | See Source »

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