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Another big draw is Switzerland's tradition of discretion. Its strict banking privacy laws are a bonus for foreigners who don't want anyone peeking at their accounts. But the European Union, worried about what it sees as rampant tax evasion, is pushing for more transparency in Europe's banking systems. The E.U. Savings Taxation Directive, which came into effect in 2005, demands that member states and their dependencies either automatically exchange information on the accounts kept in their banks by E.U. residents or start imposing a 15% withholding tax on any foreign-sourced interest paid into those accounts. Most...

Author: /time Magazine | Title: Take the Money and Run | 2/6/2008 | See Source »

...politicians fiddle in Kathmandu, a hundred mutinies burn around the country: vigilante gangs run rampant in the countryside, while ethnic groups long marginalized under the monarchy have taken to armed uprising, especially in the southern lowlands of the Tarai where over 40% of Nepal's population lives. A cocktail of anarchist elements, militant factions and a growing separatist movement hold sway there and prove a daunting challenge with elections coming in little more than two months. "What happened in Kenya could happen here," says Jayaraj Acharya, a former Nepalese ambassador to the U.N., speaking of the ongoing ethnic conflict...

Author: /time Magazine | Title: Rebels with a Cause | 1/31/2008 | See Source »

...McCain, even if they don't fall for him. This is shaping up to be a dismal election year for the G.O.P.; regaining control of the House or Senate is beyond reach, and the incumbent Republican President has approval ratings that top out in the 30s. Home foreclosures are rampant, joblessness is up, and the markets are plunging. The Iraq war, while quieter, remains deeply unpopular. In other words, conditions could scarcely be worse for a Republican trying to win the White House. And yet every poll suggests that McCain - because of his appeal beyond his party - could actually...

Author: /time Magazine | Title: The Resurrection of John McCain | 1/23/2008 | See Source »

...Hsia blames the ruthless dealers: "They push men to buy a product and even teach them how to control their wives". Ads with lines like "Vietnamese Wife for $6,000," "Guaranteed Virgin" and "Refund for Runaways" were rampant before the government regulated content. Even then, more recent ads promised: "Vietnamese make ideal wives: pretty, tidy housekeepers, obedient...

Author: /time Magazine | Title: The Regrets of a Foreign Bride | 1/22/2008 | See Source »

...Kenya, so in Africa's other powers. Africa is the also the world's most corrupt continent, with 36 out of 52 countries afflicted by rampant graft. In Nigeria the Economic and Financial Crimes Commission says the country's rulers stole $400 billion from 1960 to 1999. In South Africa barely a week goes by without a new corruption scandal among the business and political élite. A week after he was elected leader of the ruling African National Congress, Jacob Zuma was indicted on one charge of racketeering, one of money laundering, two of corruption and 12 of fraud...

Author: /time Magazine | Title: The Demons That Still Haunt Africa | 1/10/2008 | See Source »

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