Word: dollarization
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...PING, a director general at China's Banking Regulatory Commission, saying Beijing will continue to buy U.S. Treasury bonds despite concerns about the dollar. China has nearly $2 trillion in foreign-currency reserves --FEBRUARY...
...There are still houses and buildings left untouched after the waves receded, standing like skeletal ghosts with long shadows amidst the newly constructed buildings. Small blue signs dot the coast, indicating where to run in case of a tsunami warning. Sri Lankan authorities recently tested a multi-million dollar early warning system along the beaches. In Sainathimaruthu, where villagers say at least 3500 died, a large red tower stands on the beach equipped with a public address system - a constant reminder that, despite the rhythms of life having returned to some kind of normalcy, it could happen again...
...truly international catastrophe: the tsunami struck 13 countries, killing 226,000 people of 40 nationalities. Five years later, a first-time visitor to the worst-affected countries - Indonesia, India, Sri Lanka and Thailand - might find the wave's terrible path hard to detect, thanks to a multinational, multi-billion-dollar reconstruction effort. Across Aceh, thousands of houses were built with foreign aid in what were once wastelands. In Banda Aceh, the provincial capital, new homes surround a 2,600-ton ship pushed a mile inland by the Tsunami. It is now a tourist attraction. (See TIME's photo-essay...
...what are the sages saying now that 2010 is just around the corner? Plenty. Next year we'll see oil hit $90 a barrel (per Goldman Sachs), unemployment peak at 10.5% (Fitch Ratings), the value of the dollar with respect to the euro and yen hit bottom (Deutsche Bank), 10-year Treasuries yield more than 4% (Bank of America Merrill Lynch) and small-cap value stocks outperform all other categories (Richard Bernstein Capital Management). As for the stock market more broadly? Strategists at UBS expect gains well into the double-digits. The CEO of PIMCO sees a 10% drop...
...student was heading down Massachusetts Avenue toward Garfield Street when two black males, approximately ages 18-20, confronted him and asked him for a dollar, said the report...