Word: quarterly
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...Belgravia, where Russian billionaire Roman Abramovich lives, Knightsbridge, the home of Harrods, and Mayfair, where the black-Amex set get their suits made at Savile Row, pushed the prices of prime real estate up by almost 40% between the summer of 2006 and summer 2007. In 2006, almost a quarter of properties costing $16 million or more sold through Knight Frank went to Russians; Middle Easterners bought 16%. "If somebody wants to live on Belgravia's Eaton Square, there are only a handful of properties available, so they'll bid whatever it takes to get one," says Liam Bailey, head...
...success of New York's cultural cluster, its preeminence rests on shaky ground because of something else the city is well known for: breathtaking real estate prices. By the last quarter of 2007, a year when home prices in most of the rest of the U.S. were dropping, sometimes sharply, the average cost of a Manhattan apartment was a record $1.4 million, up 17.6% from one year before. Even across the East River in Brooklyn, the average price was a hefty $661,000, up from...
...back nearly 30 years, and few would have thought that any of the three cities were about to remake the world for the better. In September of 1982, the Hong Kong stock exchange lost a quarter of its value after Margaret Thatcher, flush from her victory in the Falklands War, annoyed the rulers of communist China by foolishly seeming to suggest that Britain might be able to hold on to its colony - which prompted China to insist that it would do no such thing. At the same time, London and New York City were bywords of urban decay...
...these are places that know how to meet a challenge. They've done it before. From being dismissed as long past their prime a quarter of a century ago, New York, London and Hong Kong have gone on to extraordinary heights. Tying themselves together, they have also knitted the world into a seamless fabric, financing and transporting the container vessels and the streams of data that have made today's global economy a phenomenon that has increased the life chances of countless millions. Welcome to Nylonkong, and the world it made...
...parlous status of girls' education belies one of the greatest hopes raised when the Taliban was toppled by U.S.-led forces in 2001: the liberation of Afghanistan's women. Yes, they can now vote, they have a quarter of the seats in parliament, and they are legally allowed to find jobs outside the home. Foreign donors and nongovernmental organizations have expended a great deal of energy and capital on building women's centers and conducting gender-awareness workshops. But more than six years since the fall of the Taliban, fewer than 30% of eligible girls are enrolled in schools...