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...represents national governments at the E.U. level - will almost certainly be amended. Sweden's Odell insisted the legislation was "a raw diamond that needs to be polished more." Myners, the British Minister, has vowed to "fight tooth and nail" to get the draft revised. Industry groups, meanwhile, have mounted keen lobbying campaigns. With nothing likely to enter into force before 2011, "there's one safeguard against it being introduced as it is," says AIMA's Baker. "It's mumbo jumbo...

Author: /time Magazine | Title: Should Hedge Funds Face Harsher Regulation? | 7/8/2009 | See Source »

...swell of creativity - in both fine art and commercial design - has been generated mostly by returning Dubai natives keen to reproduce cultural scenes they experienced while working or studying abroad. "When I came back to the city, I noticed no one was doing anything with the talent that existed here," says Sunny Rahbar, co-director of the Third Line gallery, one of the first spaces to exhibit local and regional artists. Within months of the gallery's September 2005 inaugural show, Christie's held its first auction in Dubai - bringing in $8.5 million - and the Art Dubai fair was established...

Author: /time Magazine | Title: More Than a Mall: Inside Dubai's Growing Art Scene | 6/24/2009 | See Source »

...journalist to breach the confidentiality of her sources, not least by the journalist herself. "I am perplexed as to why the police wasted time and resources in taking this case", said Breen outside court after the judgment. That's a line of enquiry Breen and other reporters may be keen to follow...

Author: /time Magazine | Title: Journalist Wins Right to Withhold Information on the Real IRA | 6/19/2009 | See Source »

Some Western analysts see the SCO's rise as a rival bloc to NATO, though these fears are, in the present climate, likely overblown. Beijing and Moscow regard each other with equal measures of warmth and distrust. The Central Asian countries tagging along are also keen to pit the Chinese and Russians against each other in a global scramble for the vast reserves of natural resources lurking beneath the region's rolling steppe and in the Caspian Sea. Still, in the U.N. Security Council, China and Russia have presented something of a united front when it comes to Iran. Their...

Author: /time Magazine | Title: Unbowed, Ahmadinejad Shows Up in Russia | 6/16/2009 | See Source »

Further negotiations may achieve more concrete results. While India in recent years has found common cause with the U.S. in its execution of the war on terrorism, Iran is still keen to boost its long-standing friendship with New Delhi. A mooted gas pipeline, running from Iran's fields through Afghanistan and into Pakistan and India, is a massive project that appeals to all parties involved. Conversation in Yekaterinburg will surely include the need to shore up the region's economies - China has already promised a $10 billion soft loan to its SCO allies, including Russia, which has been...

Author: /time Magazine | Title: Unbowed, Ahmadinejad Shows Up in Russia | 6/16/2009 | See Source »

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