Word: ownerships
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Dates: during 2000-2009
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...into a mainland counterpart since the 1949 communist takeover, and it is now the largest foreign financial institution there. But it is limited by regulation to owning just a minority stake in two mainland banks. One of Cheng's goals is to encourage Beijing to relax foreign-ownership regulations, part of a broader effort to help write China's banking history. --By Chaim Estulin/Hong Kong
Where are the greatest dangers? Christopher Weafer, chief strategist at Alfa Bank in Moscow, expresses caution about the energy sector and other areas that could be construed by the Kremlin as being of strategic value. A lack of legal enforcement of ownership rights makes investments in those areas particularly vulnerable. "Putin will have to follow through on his promise to end some of the unsettling actions that are driving capital flight and blocking investment," says Weafer. According to Russia's Central Bank, capital flight quadrupled last year, to $9.4 billion. But for now, Western companies seem eager to keep...
...world's second largest polluter. A U.N. report found that emissions from China nearly doubled from 1994 to 2002. "In the next 10 years the problem will become even more serious," predicts Zhu Tong, an environmental-science professor at Peking University, who notes that China's skyrocketing car ownership and lax implementation of power-plant-emission regulations could be an asphyxiating mix for global air quality...
...State Intellectual Property Office invalidated Pfizer's patent protection on Viagra last summer, arguing that the drug failed to fulfill the novelty requirement under Chinese law. Like many other multinationals, Pfizer is now cautious about expanding its R&D work in China. Unless Beijing gets a grip on "ownership issues," says Anne Stevenson-Yang, director of the U.S. Information Technology Office in Beijing, China's ability to become a technological superpower will be limited...
...active members of the Hasty Pudding Theatricals did their best to take ownership of their extracurricular activities—literally—embezzling almost $100,000 to finance their lavish lifestyles. In January 2002, Suzanne M. Pomey and Randy J. Gomes were indicted; nine months later they pleaded guilty to the charge of grand larceny and were sentenced to two and five years of probation, respectively. Pomey, former producer of the Hasty Pudding show and ex-president of the sorority Kappa Alpha Theta, was said to have spent her $23,000 share of the loot on shopping trips...