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...Arabia, Libya and Iran hold the three largest stakes - agreed to build a railroad connecting Turkmenistan and Iran, the first direct rail link between the Islamic Republic and Central Asia. "As of today, our relations with the Islamic bank have really been activated," Tuvakmammed Japarov, the country's deputy prime minister for the economy, tells TIME. In December, he adds, Turkmenistan will meet with other Arab funding institutions "to discuss a range of other projects...

Author: /time Magazine | Title: East and West Scramble for Turkmenistan's Riches | 11/29/2009 | See Source »

...that embezzled funds were channeled into 1,065 properties valued at $74 million, including some 6,000 acres of land, 40,000 sq. yd. of housing plots, and 90,000 sq. ft. of other developed real estate. The properties, bought in the name of some 80 shell companies, included prime commercial plots in and around Hyderabad, Bangalore, Chennai and Nagpur. (See the worst business deals...

Author: /time Magazine | Title: Satyam Computer Fraud Grows to $2.5 Billion | 11/27/2009 | See Source »

...president General Pervez Musharraf in November 2007 had been unconstitutional and illegal. The amnesty that spared Zardari having to face charges was issued by Musharraf as part of a last-ditch attempt to hang onto power by cutting a deal with Zardari and his late wife, the slain former Prime Minister Benazir Bhutto, who also faced corruption charges. (Zardari had previously served two stints and a total of 11 years behind bars, having been arrested, although never convicted, under former Prime Minister Nawaz Sharif, released when his wife came to power, and then sent back to prison after Sharif...

Author: /time Magazine | Title: Corruption Charges Loom for Pakistan's Pro-U.S. President | 11/27/2009 | See Source »

...prime suspect behind the massacre, who was taken into custody on Thursday, is a member of one of Mindanao's leading Muslim political clans: the Ampatuans. They are close allies of President Gloria Macapagal Arroyo's administration in Manila and rule Maguindanao, a hardscrabble province in an autonomous area for Muslims. Andal Ampatuan Jr., a Maguindanao mayor in his 40s, was expected to be charged with murder, according to local reports, quoting justice authorities. Ampatuan denies involvement: "The reason I came out is to prove that I am not hiding and that I am not guilty," he told local reporters...

Author: /time Magazine | Title: Behind the Philippines' Maguindanao Massacre | 11/27/2009 | See Source »

TIME: What is [former finance minister and now planning commission head] Trevor Manuel's new role in this new set-up? Is he, as some say, effectively a Prime Minister? Zuma: He is not a Prime Minister. He had the very specific task of helping me and the country to work out a national plan, to ask: where shall we be by this time? Where is the country going? His role is also to monitor and evaluate. The reason Trevor was appointed was because he had been minister of finance and had an understanding of the workings of all government...

Author: /time Magazine | Title: Jacob Zuma: 'We Have to do Things Differently' | 11/26/2009 | See Source »

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