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...getting into life boats on the short-term imperative of saving their lives, and will work to restore 'good old days' rules once the economy is back on solid ground," Maris says. "There is a school of thought that the best way of doing nothing at all is to demand everything be changed - and what we've been hearing from Sarkozy and Bush has been totally counter to what they'd constantly maintained before." Perhaps for that reason, the new tone hasn't struck fear into the markets, but there are still plenty of grounds for volatility as further details...

Author: /time Magazine | Title: Markets Cheer Calls to Overhaul Global Finance | 10/20/2008 | See Source »

...local institutions. If the credit crunch shakes out speculators, known as "flippers," from Dubai's real estate market, that could help stabilize wildly inflationary conditions. "I am not necessarily thinking we are in a crash scenario," EFG-Hermes managing director Hashem Montasser tells TIME. "There is still genuine demand. Economies here are still growing. Overall, the economic situation is still very sound. We will see a deceleration of prices, and it's probably a good thing, as long as it's done in an orderly way and doesn't turn into a panic. The market has gone to where...

Author: /time Magazine | Title: How Wall Street's Bust Threatens Dubai's Boom | 10/19/2008 | See Source »

...fruit and vegetables wholesale company. Hiromi Ohtaki of Dole Japan, a leading banana importer, sees the boom in sales as largely due to Morning Banana Diet - bananas don't normally sell well during summer, and this year's summer has been especially hot. Still, over the past 4 months, demand has driven Dole Japan to increase its banana imports by upward of 25%, and even then supplies could not keep pace with demand. "In a way this is an emergency," explains Ohtaki. "We've been importing bananas from the Philippines for the past 40 years, but this is the first...

Author: /time Magazine | Title: Japan Goes Bananas for a New Diet | 10/17/2008 | See Source »

...According to Ministry of Finance, Japan's banana imports were 970,000 tons in 2007, mostly from Taiwan and the Philippines. "It takes from 10 to 15 months to harvest bananas, so it is not at all easy to meet a sudden increase in demand," says Dole's Ohtaki. Dole Japan is trying to make up the shortfall by negotiating distribution deals with Dole corporations in other countries. Supplying the spike in demand will be lucrative, because banana prices in Japan have risen about 20% as a result of supply shortages that have coincided with the diet...

Author: /time Magazine | Title: Japan Goes Bananas for a New Diet | 10/17/2008 | See Source »

...agreement is not yet complete, of course. There are still points of contention over immunity for U.S. forces, and over the Iraqis' demand for the right to inspect weapons and military equipment being brought into the country "to ensure they are suitable for the security mission", as Prime Minister Nouri al-Maliki put it in an interview with The Times - i.e. to ensure that Iraq's territory is not being used as a staging ground for any U.S. action against Iran. The pact will have to be approved by Iraq's cabinet and parliament, where it could still encounter opposition...

Author: /time Magazine | Title: How the Recession Could End the Iraq War | 10/17/2008 | See Source »

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