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...first, the bidding war that erupted recently for a stake in China Eastern Airlines, China's third largest carrier by revenue, was hailed as an example of capitalism invading the country's tightly controlled airspace. China Eastern was entertaining an offer by Singapore Airlines to buy 24% of the company for $920 million when a rival bidder, China National Aviation Corp. (CNAC), parent of flag carrier Air China, swooped in with a promise to beat that offer. In an uncharacteristic move, airline-industry regulators in Beijing said they would allow China Eastern's shareholders to settle the matter...

Author: /time Magazine | Title: Cleared for Takeoff | 1/23/2008 | See Source »

...Chinese-language erotic thriller Lust, Caution was missing, as was The Romanian drama 4 Months, 3 Weeks & 2 Days, the Palme d'Or winner at Cannes and a near-unanimous critics' fave. The snubbing of these well-known films left room for five films (four from Eastern Europe) that even most reviewers haven't heard of. Zut alors...

Author: /time Magazine | Title: The Downsizing of Oscar | 1/22/2008 | See Source »

...tribes together in the camps because they have extended their conflicts into Uganda," said Bimpabaza Hashaka, the top government official in the eastern Ugandan district Tororo. Hashaka said youth gangs of the Kalenjin tribe have repeatedly threatened attacks on Kikuyus, even going as far as to try to poison the food being prepared for Kikuyu refugees sheltering in a church. Hospital emergency rooms in Tororo have also been the site of further fighting between men of differing tribes. Refugees poured in this week as the Kenyan opposition waged three days of rallies in all parts of the country. Says Hashaka...

Author: /time Magazine | Title: Kenyan Refugees, With Hatred in Tow | 1/19/2008 | See Source »

...opening up of the E.U. mean there are more people in the world with big money to spend. And the rise of London as a leading financial center, along with the strengthening of the British pound, have made the U.K. the place to spend it. These days, wealthy Middle Easterners and Western Europeans have been joined by Russians, Chinese, Indians and Eastern Europeans whose wallets have grown along with their countries' GDPs. Now Bentleys and Mercedes roll through London's streets, past the luxury stores, expensive restaurants and exclusive nightclubs that have sprouted to cater to the new élite...

Author: /time Magazine | Title: Ritzy Business | 1/17/2008 | See Source »

...thriving country in the Persian Gulf is run by a regime that arrests and tortures critics at home while fueling destabilization and violence abroad. What America needs is a sensible, sustainable Iran policy that can meet U.S. security and economic interests, command international support and withstand the shifting Middle Eastern sands. What would such a policy look like...

Author: /time Magazine | Title: Rethinking Iran | 1/17/2008 | See Source »

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