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...Credit cards became widely available to Koreans only four years ago. Economic policymakers, trying to reduce their export-driven economy's dependence on the U.S., implemented measures that encouraged banks and card companies to increase lending to consumers. Anyone who ran up expenditures totaling more than 10% of his annual income on credit cards was granted a 20% income-tax deduction, and long-standing restrictions on cash advances were abolished. The situation was a bonanza for card companies and banks. Miniskirted girls peddled cards on street corners, offering free plush toys and kitchen knives to new applicants...

Author: /time Magazine | Title: The House of Cards | 12/1/2003 | See Source »

...Italian officials even discussed closing the Rome and Milan metros in the final 48 hours of Ramadan. But authorities say last week's arrests were the culmination of long investigations, not hasty responses to the Istanbul blasts. And some of them were meant to thwart a different threat: the export of suicide bombers from Europe, mainly to Iraq. Groups like Ansar al-Islam have reportedly stepped up recruitment on the Continent. "There has been a call from Ansar for kamikazes from Europe," says an Italian investigator. Authorities say they intercepted a satellite-phone conversation in which Mullah Fouad...

Author: /time Magazine | Title: After Istanbul, A Wave Of Arrests | 11/30/2003 | See Source »

...Export-processing zones in Central America have provided a laboratory for FTAA-style arrangements, and they are delivering union-smashing managements, vandalized public services, and a ravaged physical environment. Meanwhile, the apparel workers who came to Harvard have been denounced in the Honduran media as “terrorists,” as the ‘T-word’ replaces the ‘C-word’ (communist) as the primary means of discrediting agents of social change...

Author: By John T. Trumpbour, | Title: Resisting the FTAA | 11/26/2003 | See Source »

...Number of Australian sheep fed pork by an animal-rights group, an act that prevented export of the sheep to the Middle East...

Author: /time Magazine | Title: Milestones | 11/24/2003 | See Source »

...life in Britain." Who could blame him for wanting to try? Last week, Russian authorities announced a tax probe into Sibneft. Then a Moscow court agreed to hear a suit against the Yukos-Sibneft merger. The Duma passed new rules to grant the state free rein to raise oil export duties and to strike tax amnesty from the criminal code. Finally, Finance Minister Alexei Kudrin pushed through a new bill to revoke regional tax breaks as of the New Year. Even though auditors later concluded that Sibneft's tax violations were "ethically not very pretty but legal," the impact...

Author: /time Magazine | Title: A Roman Retreat? | 11/24/2003 | See Source »

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