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...That was made clear on Nov. 25 when the city-state of Dubai shocked the global investment community by asking creditors of its main corporate arm, ports-and-property conglomerate Dubai World, for a six-month payment standstill on its almost $60 billion of liabilities. The surprise hit stock markets in Asia and the U.S., while sending investors scrambling for safe havens like the U.S. dollar. Experts have since engaged in a rabid round of speculation over what the Dubai debt crisis might mean for the world economy. Some see the problem as little more than a big real estate...
...little progress Central America has made since the coups, civil wars and corruption of the past. The institutional rot that spawned those Cold War conflicts remains, not just in Honduras but in nearby countries such as Guatemala, Nicaragua and Panama. In Nicaragua, for example, leftist President Daniel Ortega last month had Supreme Court justices loyal to him summarily lift a constitutional ban on presidential re-election so he can run again in 2011, even though most Nicaraguans oppose the change. In Panama, members of the powerful Arias family have so far been able to block the will of a relative...
...exile at gunpoint. (They rationalized the move by insisting Zelaya was plotting to lift Honduras' own ban on presidential re-election, though his referendum never broached the issue.) The Obama Administration joined the world in condemning the putsch; and it thought it had the crisis resolved last month when it got Zelaya and interim President Roberto Micheletti to agree to let Honduras' Congress vote on Zelaya's restoration. But the legislature has refused to act before the Nov. 29 election, effectively kiboshing the accord. The U.S. has said it may endorse the election anyway - and risk looking...
...officials blamed Russia, claiming it had shut the valve on its end, causing pressure to build up and the pipeline to burst, in order to avoid honoring its gas contracts. Moscow strongly denied responsibility. The cost to Turkmenistan in lost gas revenues has been a staggering $1 billion per month. (Read: "Europe Tries to Break Its Russian Gas Habit...
...which is abundant among the hills and three towering volcanoes around Atitlan. The situation is aggravated by government distribution of chemical fertilizer containing extra phosphorous to poor farmers who liberally apply it to their fields. Widespread deforestation allows the soil to leach into the lake during Guatemala's six-month-long rainy season. (See more about Guatemala...