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...works for decades. Some countries have slashed tariffs to zero under the pact. Already, according to Egypt's Trade Ministry, inter-Arab trade rose 22% in 2005 compared with a 4% rise three years earlier. Last month an Arab trade-ministers meeting in Cairo took up the technical yet crucial issue of adopting common product standards. "There is a reshaping of the landscape," says Hassan Heikal, CEO of EFG-Hermes Holding SAE, a Cairo investment bank, over cocktails at the Four Seasons First Residence--itself the product of a partnership among a local investor, a Saudi prince and a Canadian...

Author: /time Magazine | Title: Beyond the Bazaar | 7/17/2006 | See Source »

...fortunate that our nation had a leader as magnificent as T.R. at such a crucial time--the start of the modern era. Sadly, we have not seen the likes of him since. I wonder which of our contemporaries, if any, will grace the cover of TIME 100 years from now. MAYR MALOOL Lake Placid...

Author: /time Magazine | Title: Letters: Jul. 24, 2006 | 7/16/2006 | See Source »

...said we are ready to talk, and the board of General Motors said we're ready to talk, is outlining all these areas and trying, with our own experts, to say how much potential is there in each one of these areas for the three companies. That's very crucial. Because, if you come to an amount [of potential] that would appear as very small compared to the energy that is going to have to be spent there, then you better stop. But if you come to an amount which is big enough to counterbalance the risks, to counterbalance...

Author: /time Magazine | Title: Is Carlos Ghosn GM's Savior? | 7/14/2006 | See Source »

...Generously funded by Harvard’s Minda de Gunzburg Center for European Studies and the Weatherhead Center for International Affairs, I was endowed not only with the necessary pecunia to keep me in a tiny flat off the Boulevard Diderot, but also with something more immaterial, yet of crucial value: a letter beginning with “To Whom it May Concern.” On fancy Veritas-watermarked paper, this short message was my admittance ticket to a number of locations that the average visitor to Paris is never to see. To enter the Institut...

Author: By Alexander Bevilacqua, | Title: Gallic Interiors | 7/13/2006 | See Source »

...Elsewhere, Iran provides crucial support to Syria, Hamas and Hizballah, the three Arab players most visibly defying American and Israeli designs for the Middle East. Syria may prove another tempting target for Israeli forces, which buzzed President Bashar Assad's palace last month as a warning to end its backing for terrorist groups. Jordanian authorities recently accused Hamas of smuggling weapons into Jordan from Syria with the intention of staging terrorist attacks against King Abdullah II's rule. But any military action against Damascus could backfire by plunging Syria itself into a sectarian conflict between Alawite loyalists and the Sunni...

Author: /time Magazine | Title: The Risks of Israel's Two-Front War | 7/13/2006 | See Source »

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