Word: macao
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Dates: during 2000-2009
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MACAU Venetian Macao, world's biggest casino, opens...
...presumption, then, is that U.S. engineered financial sanctions that have so irritated Pyongyang will be dealt away as part of a grand compromise. The U.S. clearly struck a nerve when in September 2005 the Treasury Department pressured a Macao bank, Banco Delta Asia, to freeze North Korean accounts held there. (Treasury accomplished this mainly by getting major banks in the U.S. to shut down their correspondent accounts with Banco Delta Asia, effectively isolating it from the international financial system). The U.S. has said it suspects the North uses the accounts to launder money gained through counterfeiting U.S. currency and narcotics...
...Administration has also had some success in cutting off North Korea's access to the international banking system. For the past year, the Treasury Department has put intense pressure on international banks doing business with North Korea. Last year it helped shut down dozens of accounts at the Macao-based Banco Delta Asia, which was suspected of counterfeiting and laundering money for Pyongyang. Some diplomats in Beijing, in fact, suspect that the financial pressure the U.S. has been applying was the main reason for Pyongyang's defiant missile launch...
...direct is his approach,” Summers said, before presenting Durang with the medal. During the interview, Durang discussed the inception of his play writing interest and the complaints his work has received over the years. He talked about his latest project, “Adrift in Macao,” a film noir parody, and his squabble with famed director Robert Altman, calling his film adaptation of Durang’s “Beyond Therapy,” “ghastly” and “really awful.” Durang also provided insight...
...lessons are already evident. The zone's low tax rates were designed to lure U.S. and Japanese firms as well as Hong Kong and Overseas Chinese investors, but about 90% of the capital has come from businessmen in Hong Kong and Macao. A further disappointment is that instead of channeling the funds into new industries, foreign businessmen have spent most of their money constructing apartment and office buildings, resort hotels and recreation parks...