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Japan's moves did not impress Washington. Said White House Spokesman Larry Speakes: "It is difficult to determine from the announcement whether the program will remove the bulk of the barriers in a timely fashion." Congress was even more skeptical. "Japan has announced five previous market-opening initiatives in the past four years," said Republican Senator John Heinz of Pennsylvania. "None of them has worked. That's the reason for this sixth initiative. I doubt this will do much good either...

Author: /time Magazine | Title: Promises, Promises | 4/18/2005 | See Source »

...1980s, Persian Gulf banks flourished like palm trees in a desert oasis. Arab governments, rich on oil revenues, were financing projects ranging from airports to universities, and the influx of money caused bank assets to grow 20% a year. Newly prosperous gulf families built banks as status symbols to impress their neighbors. The United Arab Emirates, which has a population of 1.3 million, had 53 banks in operation last year. Said an American economist who has studied the financial development of the Middle East: "Nowhere else in the world has a rush of sudden wealth almost instantly produced such...

Author: /time Magazine | Title: Gulf of Woes: Banks decline and fall | 4/18/2005 | See Source »

...weeks since, his eventual successor Joseph Ratzinger has put on a tour de force that would impress Karol Wojtyla. Now that he is Pope Benedict XVI, it all seems pre-destined. But back when TIME reported a story in early January saying then Cardinal Ratzinger had reemerged as a leading frontrunner for the papacy, it was still difficult for many to imagine. One Vatican source told me this week that some colleagues were laughing about the piece when it came out, thinking Ratzinger was long since out of the running because he'd been branded as a doctrinal hardliner...

Author: /time Magazine | Title: Vatican Diary: A New Papacy Begins | 4/16/2005 | See Source »

...She’d be like, ‘Go on! Smack on another 45,’ and I’d be trying to impress the big Olympian going ‘Yeah! Woo! I’m hardcore,’” Corriero says. “And like I can’t fit into any of my jeans anymore, I’m like dammit...

Author: By John R. Hein, CRIMSON STAFF WRITER | Title: Taking Their Final Shot Together | 3/25/2005 | See Source »

...next track. Best of all, the phone's "beat box" function lets you build grooves by shaking the phone, air-drum style. Each time you play, you can pick a different sound such as tambourine, clap or scratch, and you can save your most excellent beats to impress friends later on. The SCH-S310 is scheduled to go on sale in South Korea later this year, but if applications for the technology develop, it's likely that motion sensing will show up in Samsung's U.S. phones too. --By Wilson Rothman

Author: /time Magazine | Title: Phone Sense | 3/20/2005 | See Source »

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