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...world's biggest online poker operator, pledged to pare down its reliance on U.S. punters; some 46% of its new poker players came from outside the U.S. in the three months to July, double the share a year earlier. In its sights? The legions of gamblers in China, Japan and the rest of Asia. The firm won't reveal its hand, but Asia "could well be a significant growth area" for PartyGaming, says Richard Hunter, head of U.K. equities at Hargreaves Lansdown Stockbrokers. Plus it would be "a strategic hedge" against a U.S. crackdown. What's Mandarin for dead...

Author: /time Magazine | Title: Risky Business | 7/23/2006 | See Source »

...first time since the early 1990s. As a result, interest rates are going up, setting the stage for slower expansion of the money supply. This is occurring for two reasons. First, central banks are now satisfied that deflation has been avoided - an especially big deal for the Bank of Japan, which just abandoned nearly six years of zero interest rates. Second, authorities are concerned about the risks of incipient inflation. So-called core inflation gauges have accelerated in a climate of sharply rising energy prices. Determined to avoid the mistakes of the 1970s, central banks have been quick to tighten...

Author: /time Magazine | Title: Risk Adjusted | 7/23/2006 | See Source »

...world. The gem, since reset in a brooch known as "Bird on a Rock," pictured, is itself now one of the biggest stars in "Bejewelled by Tiffany, 1837-1987." The exhibition?at the Gilbert Collection, Somerset House in London until Nov. 26 and expected to travel to China and Japan later this year?traces the irresistible rise of Tiffany & Co. from its inception in 1837 as a small fancy-goods store on New York City's Broadway, and how the company instilled its jewelry with what curator Clare Phillips calls a "subtle patriotism." Nicknamed the "King of Diamonds...

Author: /time Magazine | Title: American Beauty | 7/23/2006 | See Source »

...wasn't supposed to be a surprise this time. Soon after the 2004 disaster, the international community began work on a regional tsunami-alert system for the Indian Ocean similar to the one already operating in the Pacific Ocean. Germany, Japan, the U.S. and others helped to upgrade the region's shore-based tide-gauge stations, which can measure the sea-level changes caused by a tsunami, and planned to install sophisticated deep-ocean buoys off Indonesia to detect tsunamis when they're still out to sea. By last month, the United Nations Education, Scientific and Cultural Organization (UNESCO...

Author: /time Magazine | Title: Without Warning | 7/23/2006 | See Source »

...that bans the development of missiles for self-defense and the sale and shipment of missile technology. A 1987 voluntary accord known as the Missile Technology Control Regime did not include China or any Middle Eastern nations; in fact, the only Asian country that has signed it is Japan and the only African country that has signed it is South Africa. But with Security Council passage of two provisions that "require" U.N. members to prevent the transfer of "missile and missile-related items, materials, goods and technology" to North Korea and to prevent North Korea from selling missile-related items...

Author: /time Magazine | Title: Why the U.N. North Korea Resolution Might Really Work | 7/18/2006 | See Source »

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