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Dubai and Dubai World, one of the flagship state-owned conglomerates, have lots of good assets, including a state-of-the-art multiterminal international airport, an airline and port facilities with vast container capacity. However, under Dubai law and the regulations of the U.A.E., banks cannot seize control and ownership...

Author: /time Magazine | Title: Can the Banks Force Dubai into Foreclosure? | 12/1/2009 | See Source »

So much of Dubai has been built on short-term loans, based on the idea that income from the projects would buoy liquidity and help roll forward debt payments. For example, Dubai's driverless metro system, one of the most advanced in the world, is financed through three-year notes...

Author: /time Magazine | Title: Can the Banks Force Dubai into Foreclosure? | 12/1/2009 | See Source »

Much of the world was shocked and titillated by news of alleged fat-stealing murderers in the Peruvian jungle. But the story may have a much more sinister underbelly. Could the allegation of homicidal liposuction possibly be a smokescreen to distract attention from other crimes, including, some local journalists say...

Author: /time Magazine | Title: Peru's Fat-Stealing Gang: Crime or Cover-Up? | 12/1/2009 | See Source »

More than 30 plaintiffs, including former Sobibor inmates and relatives of those killed, are attending the trial in Munich. Nineteen will give evidence in the case. But it's unlikely that anyone will be able to identify Demjanjuk after 66 years - one of the main obstacles that prosecutors face. There...

Author: /time Magazine | Title: Demjanjuk's Trial: The Last Nazi War-Crimes Defendant | 12/1/2009 | See Source »

On Dec. 1, 1959, representatives from a dozen countries, including the U.S., Japan and the U.K. met in Washington to sign a treaty intended to keep the Cold War out of the coldest place on Earth. Fifty years later, the Antarctic Treaty is still in effect, making it one of...

Author: /time Magazine | Title: Antarctica | 12/1/2009 | See Source »

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