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For decades, paying bribes was an unspoken but largely inevitable cost of doing international business. The World Bank Institute, the bank's in-house think tank, estimates that more than $1 trillion is paid in bribes each year, lining the pockets of officials at the expense of economies, distorting competition...

Author: /time Magazine | Title: The Endless Cycle Of Corruption | 2/1/2007 | See Source »

There's nearly a year to go before the Iowa caucuses, but it sure feels like the 2008 presidential-election season has reached full swing. There are at least 20 actual or assumed or wished-for candidates--nine Democrats and 11 Republicans--a field that narrowed by one when John...

Author: /time Magazine | Title: Only 648 Days Until the Election! | 1/25/2007 | See Source »

In the past two years, dozens of websites with names like angelpartner.co.kr or helpmon.com have sprung up, offering anything from fake sons and daughters to fake boyfriends and fiancées. Many of the stand-ins are ordinary people who sign up to make a few extra bucks, and while...

Author: /time Magazine | Title: Parents For Hire | 1/18/2007 | See Source »

None of this is welcome news for oil companies, of course. While they're still raking in billions in profits, the stock prices of the majors, from ExxonMobil to Chevron, have declined in recent weeks, since lower oil prices will invariably translate to lower corporate revenues. The silver lining: oil...

Author: /time Magazine | Title: What Will Falling Oil Prices Mean? | 1/18/2007 | See Source »

The fun really starts in the labyrinthine markets (or souks) of old Damascus, however. Souk Hamadiya inspired The Secret Life of Syrian Lingerie all by itself. Many of the small kiosks lining the souk sell clothes; often, underwear sets are hung just below rows of more traditional outfits like sequined...

Author: /time Magazine | Title: Undercover In Damascus | 1/16/2007 | See Source »

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