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...Genting, operator of Resorts World Sentosa, recouping its $4.5 billion investment won't be easy. Even though it will be one of two exclusive casino operators, unlike Macau or Las Vegas, where there is fierce competition within a much larger pool, analysts and investors have set their initial expectations for Sentosa's gaming revenues "far too high," says Citigroup analyst Dominic Noel-Johnson. To meet Citigroup's relatively conservative 2011 gaming revenue estimate of $1.2 billion for Resorts World Sentosa - more than a third less than the consensus of other brokerage houses - every single foreign tourist expected to come...
...living through a turning point at which the East overtakes the West, unless something drastic occurs,” Ferguson said. “China will have a larger GDP in 2027 than America...
Greece's task is massive. Its deficit is the biggest in the euro zone and four times larger than the 3% maximum permitted for members of the single currency. Frugal Germany, the E.U.'s traditional paymaster, was understandably reluctant to commit to underwrite any rescue pledge before securing a cast-iron commitment from Athens that it would put its finances in order. Earlier in the day, Otmar Issing, the German former chief economist of the European Central Bank, said the Greeks enjoyed "one of the most luxurious pensions systems in the world" and that it was unreasonable to expect German...
That kind of local journalistic reaction is uncommon. Georges Michel, a senior political journalist for Radio Metropole, says that despite the frustrations of covering the trial, the majority of Haitian journalists have not paid close attention to this story because there are much larger issues in Haiti. "We have other concerns, like finding water, finding food, living on a day-to-day basis, finding some money to survive, looking for our dead friends and dead relatives. Everyone has immediate concerns," says Michel...
...larger question - whether an entire country can declare itself a park without the support of an international conservation body - has, in a way, been answered. "If the government wants to do it, they can do it," says Peter Shadie of the International Union for Conservation of Nature. But that doesn't mean the park would fit his organization's definition of a protected area, which emphasizes the long-term conservation of nature and its associated ecosystem services and cultural values. "The definition [of protected area] has a lot of latitude," says Shadie...