Word: neared
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...economy so weak the Bank of Japan never dared to lift interest rates significantly above zero. During this time the Japanese yen was the currency traders loved. No longer, it seems. "The yen has become the least obvious carrying currency," says Credit Suisse's Desbarres, mainly because the near-zero interest rates Japan once exclusively offered are now available from central banks across the globe. Ironically, the yen today looks relatively strong compared to the dollar, making it more expensive to borrow and so riskier to carry. "Even though interest rates are low everywhere as global demand gradually picks...
...financial sector returns to its previous size, law firms may recover some of the positions lost to a decrease in transactional work, but that is unlikely to occur in the near future, Nanda said...
...Many Democrats will say that we need to wait for the President to submit a plan," said a Democratic leadership aide. "Republicans will say, 'You didn't mind second-guessing George Bush on Iraq.' " Obama's dilemma is this: If he chooses to send more troops, he will have near united Republican support but will divide his own party; if he decides against a counterinsurgency strategy, he will be reversing a campaign promise uniting Democrats, the majority of whom are opposed to an expanded U.S. footprint in Afghanistan. (Read "Afghanistan: Looking for the Way Ahead...
...flimsy but in-your-face blue sign near the entrance displays one of Khomeini's best-known declarations: "We will stand until our last breath, last house, last drop of our blood to elevate the word of God." The shrine's interior, reminiscent of an airport hanger, reflects the Imam's austere outlook. During his rule, Khomeini received all manner of dignitaries in a bare room at his daughter's modest residence in the theological center of Qum, and refused to eat anything more extravagant than fruit, yogurt and rice. In contrast, his sarcophagus has now been enclosed within...
...wake of revelations that Iran had concealed a secret uranium-enrichment facility near the holy city of Qum, the U.S. began working international back channels to gauge support among its allies for a fresh round of sanctions against Tehran. While the U.S. and U.N. have sanctions in place against the Iranian finance sector as well as travel and trade restrictions, Secretary of State Hillary Clinton said the Obama Administration was investigating how to "broaden and deepen" the measures, while Defense Secretary Robert Gates noted the menu of potential punishments was a "pretty rich list to pick from" - including the suspension...