Word: bombay
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...spot. Its pool of millionaires is growing roughly three times faster than China's, according to the 2005 World Wealth Report; Indian assets under management stand at $307 billion and have been growing roughly 15% a year, according to BCG. Much of the activity is now focused in Bombay, but Citigroup, for one, is planning for rapid expansion in other key Indian cities, too. "You need to be on the ground in Calcutta or Delhi to offer domestic products," says Citigroup's Sharma. In the next three to five years, he aims to have as many as 100 offices...
...safety? After the discovery of the liquid-bomb plot, does it make sense to funnel billions more dollars into new machines that can detect liquid explosives, even though the past three sizable attacks pulled off by Islamic terrorists in major metropolises have been on trains in Madrid, London and Bombay? Banning cologne from planes and testing bottles of baby formula for explosives may make us feel proactive, but are we being smarter? "We can't just radically shift our strategy every time there's an event," Michael Chertoff, Secretary of the Department of Homeland Security (DHS), tells TIME...
...days after the terror attacks in Bombay, Indians found many of their favorite blogs banned. On July 13, the Department of Telecommunications had ordered Indian Internet service providers to close a reported 17 blogs that purportedly published hate speech against Muslims. But in an effort to comply, the companies mistakenly blocked hundreds of other blogs hosted on the same servers. The government issued a new directive instructing ISPs to resume "unhindered access" to all but the specified websites, but the reaction online was immediate and furious, with dozens of sites accusing Delhi of trampling free speech. The closure even drew...
DETAINED. Khaleel Aziz Sheikh, 24, Kamal Ahmed Ansari, 32, and Mumtaz Ahmed Chowdhury, 38, in connection with the July 11 Bombay train bombings that killed more than 180 commuters; in Bombay and Bihar. The three suspects are the first to be arrested by police investigators, who after the blasts rounded up as many as 350 people-most of them Muslim-for questioning. A fourth man, Abdulkadir Karim Tunda, 64, a suspected member of Kashmir-based militant group Lashkar-e-Toiba, was also detained last Thursday in Kenya. Officials say more arrests are forthcoming...
...India on the Move It was with great pride that I read the stories about the boom time in India [June 19], a country in which the ancient and the modern coexist. On a recent visit to India, I observed that downtown Bombay appears to have stood still in time, while changes are more apparent in the city's suburbs. India's great strides in education, technology and medicine can prove to the world that the country is a force to be reckoned with. Gita Varughese Mississauga, Canada...