Word: gaine
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...legions of rich Europeans are suddenly closing their Swiss accounts and moving their money to Singapore. After Switzerland implemented the withholding tax, "very little happened in terms of asset migration," says Sebastian Dovey, managing partner of Scorpio Partnership, a London-based consultancy to the wealth-management industry. "The big gain for Singapore is not to take assets away from Europe," he says. "The big gain is to attract assets from within its own region. And [Singapore] is doing that tremendously." For now, though, it still has a long way to go before it can claim to be a wealth-management...
...history," the presidential candidates are the most visible targets. Many Brazilians feel they simply aren't being given a choice. There are seven candidates in the field but only two, Lula and Alckmin, have a serious chance at winning, although a third far-left candidate is starting to gain ground. Alckmin embodies the neo-liberal PSDB rejected by voters in 2002 and Lula, the odds-on favorite, is leading only because he has given large handouts to the country's poor. Even many of his supporters say they will vote for their erstwhile great hope with a heavy heart. "There...
...Ball Left Behind' policy." MIKE BROWN, planetary astronomer, on an International Astronomical Union proposal to redefine what a planet is. Dozens of solar-system bodies could gain planet status under the new, broader rules...
After four failed attempts over a millennium and a half by foreign missionaries to gain a foothold in China, Christianity is finally taking root and evolving into a truly Chinese religion. Estimates vary, but some experts say Christians make up 5% of China's population, or 65 million believers. And thousands more are converting every day, the vast majority through unofficial "house" churches like the one that sparked the clash in Hangzhou. "Politically, China hasn't changed at all," says Dennis Balcombe, who has spent the past three decades evangelizing in China from his base in Hong Kong...
...regions have performed, it's no wonder. The iShares MSCI Emerging Markets Index exchange-traded fund (ETF), which tracks a basket of stocks from such countries as Taiwan, South Africa, Turkey and Poland, is up 89% over the past two years. That trounces the S&P 500's 18% gain. A dip in stocks worldwide this spring shook emerging markets the hardest--India dropped 29%, Egypt 37%--but even that falloff didn't dampen the enthusiasm more than temporarily. According to AMG Data Services, money moved into emerging-market mutual funds and ETFs at the rate of $3 billion...