Word: reals
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...books look far healthier than they were. Investigators following the paper trail have discovered 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...
...rulers of the United Arab Emirates city-state of Dubai have for months breezily dismissed concerns about Dubai World, the government's main holding company for investments and real estate developments. "We are not worried," said Dubai's Emir, Sheik Mohammad bin Rashid al-Maktoum, at a press conference two months ago, despite the fact that Dubai has debts that are at least 100% of GDP - and may be closer to 125%. When critics later complained that Dubai had no realistic plans for paying off its debts, al-Maktoum told them to "shut up." But on Thursday, as Dubai...
...also plan ahead. This morning a co-chef arrived from Germany with a suitcase stuffed with slabs of bacon and cheese; another friend brought chorizo from a European vacation; and on a recent trip back from the states I was charged overweight baggage for pecans and bottles of real vanilla extract. (Watch a slideshow of the war in Afghanistan up close...
...Minister has never shown an ounce of contrition. But Vittorio Zincone, who writes on politics and culture for the weekly magazine of the Milan daily Corriere della Sera, says there is an unconscious effect on the body politic. "The Marrazzo affair solidifies for many Berlusconi's reputation as the real ladies man," says Zincone. "And of course in the end, Italy is a Catholic country, where everything is eventually forgiven...
...where does all this leave the nation's reputation for machismo? "The real macho today pushes the limit," argues Caputo. "The real macho is transgression." In that view, from all sides of the political and sexual spectrum, Italy appears more macho than ever...