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...past three years, Belarusian President Alexander Lukashenko has started to assert his independence in subtle ways. Following the 2008 Russia-Georgia war, Lukashenko declined to recognize the breakaway Georgian republics of South Ossetia and Abkhazia, despite pressure from Russia to do so. Lukashenko also joined the E.U.'s Eastern Partnership initiative, created in 2008 to strengthen ties between Europe and the ex-Soviet bloc, much to Moscow's dismay. And last June, Belarus refused to attend a key security summit in Moscow after Russia slapped a ban on Belarusian dairy products. (See pictures of Russia celebrating Victory...

Author: /time Magazine | Title: Energy Wars: Russia's Neighbors Get Even | 1/25/2010 | See Source »

...profits. "We truly went into this trying to turn housing that was run very, very poorly by slumlords into affordable working-class housing, and to be portrayed like this is somewhat upsetting, to be quite frank," says Richard Mack, who works at AREA Property Partners, a $9 billion partnership, with his father William, who got his start in 1963 with a 5-acre plot of New Jersey swampland. The turnover targets were perhaps "more aggressive than people think they should have been," but he says, "Life is too short for us to have done this, with this small a part...

Author: /time Magazine | Title: Should Private Equity Invest in Residential Real Estate? | 1/20/2010 | See Source »

...days, and only then to point out that the foreign press had taken an interest in their new head of state - a 67-year-old former flight attendant turned politician whom voters had consistently rated Iceland's most trustworthy politician. Sure, she was gay and had entered a civil partnership with another woman in 2002. But Icelanders hardly seemed to notice. "The media silence echoed the sentiment of the public. Nobody cared about her sexual orientation," says Margret Bjornsdottir, the director of the Institute for Public Administration and Politics at the University of Iceland. "Being gay is a nonissue here...

Author: /time Magazine | Title: Europe's Gay Leaders: Out at The Top | 1/18/2010 | See Source »

...helps that Europe's liberal laws - 18 European countries allow gay marriage or same-sex civil unions, and gay couples in nine countries can adopt children - have largely normalized perceptions of gays. Christophe Girard, the deputy mayor of Paris, believes the legal framework for gay partnerships has "forced respect." (Girard is in a civil partnership with his partner of 13 years and has two children). "Gays are no longer just seen as partiers, but also as parents," he says. Paris, of course, is not rural France. But even in Barsac, a village of 2,200 people in the country...

Author: /time Magazine | Title: Europe's Gay Leaders: Out at The Top | 1/18/2010 | See Source »

...chief financial officer and chief operating officer of Qantas' Vietnamese operation, Jetstar Pacific, have been stranded in Vietnam since authorities prevented them from flying home to their families for Christmas. Earlier in 2009, Vietnam launched an investigation of the high-level executives after the airline, a Vietnamese and Australian partnership, reported a $31 million loss from bad bets on fuel futures, agreements on the future price of oil that committed Jetstar Pacific to paying above market rates for their jet fuel after oil prices dropped. (See pictures from the China-Vietnam border...

Author: /time Magazine | Title: Jetstar Detentions Raise Red Flags for Investors in Vietnam | 1/15/2010 | See Source »

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