Word: dinfully
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...nametags—to explore the many facets of freshman life. Many parents praised the wide range of events for providing them with a glimpse into their children’s lives at Harvard. Parents attended normally half-filled Friday morning classes, enjoyed an a cappella performance by the Din & Tonics, and cheered the Harvard football team to a victory against Columbia at Harvard Stadium. The parents of Collin A. Jones ’12, who opted for coffee in the Memorial Hall transept rather than participating in the Harvard College Marathon Challenge around campus, said they enjoyed spending time...
Suzan Sabanci Dinçer is all too familiar with banking crises and their devastating effects. A scion of one of Turkey's most famous business dynasties, she is chairwoman of Akbank, the country's biggest privately owned bank. Back in 2001, she lived through a meltdown of the Turkish banking system and a terrifying 9.5% one-year drop in gross domestic product. Akbank posted a big loss that year, but at least it escaped a worse fate: almost half of the nation's 80-plus banks disappeared...
...another financial crisis is raging, this time globally, and as Sabanci Dinçer watches it unfold from her elegantly furnished 27th-floor office in the heart of Istanbul, she inevitably has a feeling of déjà vu. But this time, while there's trepidation, there's also hope. The Turkish banks that survived that earlier crisis emerged from it much better capitalized - and more heavily regulated - than their peers in the U.S. or Europe. Today, thanks to surging investment and exports, the Turkish economy is double the size it was in 2001, and the nation's financiers...
...Sabanci Dinçer has little patience for such squabbling. Turkey has some critical tasks ahead, she says, including attracting international investment into new manufacturing projects, in order to provide jobs for its young population. The median age of Turkey's 71 million population is under 30, and millions of youngsters will be needing jobs in the future. She's more supportive of the government than many of her peers, but says the political fighting "made us lose time. It scared away some foreign investment. It's bad for the business climate, and I'm sure it affected consumers. Hopefully...
...Boom When outside experts look at Turkey's vulnerabilities, they see other weaknesses apart from its dependence on exports to Europe. One of the drivers of growth this decade has been foreign direct investment, but that has dropped by about 40% so far this year. Sabanci Dinçer is right to praise the robustness of the banking sector, but there are some vulnerabilities here, too: several of Turkey's banks have been acquired by foreign companies, including two European banks that have run into financial trouble elsewhere, Fortis and Dexia. Turkey also has a current account deficit that amounts...