Word: bombay
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...priced at about $350 per oz., to other countries. The British magazine the Economist has suggested that countries holding large amounts of gold in their central banks could merely issue a threat to sell significant quantities unless Pretoria eased some of its repressive measures, and then "private hoarders from Bombay to Brittany would be rushing to sell their gold at crashing prices." The U.S. is well positioned to do this, since it owns more than a fourth of all such banked bullion. Such an act, of course, would hurt all holders and producers of gold...
...decade ago, socialism seemed to be on the ascendancy, despite some severe cracks in its facade. In Bombay and Bangkok, in Lima and Lusaka, governments were nationalizing industries and imposing ever growing and restrictive regulations on private companies. The rising tide of socialism threatened to become a tidal wave. Among superpowers, the Communist Soviet Union appeared to be gaining in international prestige and influence, while the capitalist U.S. seemed to be declining. Racked by oil crises, recession and an inflationary fever that soared to double digits, the free-enterprise system faced a doubtful, some said downright perilous, future...
Much of the money came from the Bombay Stock Exchange, which is now a feverish financial center. On weekdays, hundreds of sweating, shoving and shouting traders fill an entire floor, recording transactions in soiled and curled-up note pads with leaky ball-point pens. As they jostle through the crowd in search of buyers or sellers, the action often becomes so intense that fights break out. For all that, the exchange has been one of the top performers in the world during the past two years. Prices have doubled since Rajiv Gandhi took office, and new stocks are regularly listed...
...coastal resort area of Goa looked like just another tourist. So too did the man who greeted him cheerily, "Hello, Charles. How are you?" The drinker reached for his revolver, and his interlocutor fell upon him and announced his arrest. Thus did Inspector Madhukar Zende, an ace Bombay detective, seize Charles Sobhraj, the international criminal who three weeks earlier had escaped from New Delhi's maximum-security Tihar Central Jail by slipping his guards drugged candies during a mock birthday party...
...sort of welcome to which the Pontiff is accustomed. Some 400,000 people attended the first beatification ceremony ever in India. John Paul told the clerics in the audience that he hoped the ceremony "will give you renewed zeal for your precious vocation." This week the Pope will visit Bombay, where he is expected to mention the controversial issue that he has avoided during his stay in the world's second most populous nation: birth control...