Word: regions
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...mention big clubs - are more likely to "carefully select a partner to build a strategic relationship with," he says. With more than half of Manchester United's estimated 75 million fans worldwide now based in Asia, the investment by AIG - keen to build their business in the region - made good business sense. When quizzed by a shareholder why he was pouring so much into the U.K., a modest part of AIG's empire, the insurer's then-CEO Martin Sullivan explained: "I am not buying the U.K. I am buying Asia...
...Saddiq Khan finished college in Pakistan and began working for a real estate brokerage firm in Dubai, it seemed impossible not to make money. Foreign buyers from Europe and the U.S. were flocking to the Gulf to get a slice of the oil boom and take advantage of the region's loose tax laws and resort lifestyle. Developers competed to launched one headline-grabbing mega-project after another: a ski slope inside a shopping mall, luxury skyscrapers, condos on artificial islands shaped like a giant palm tree. "It was crazy," says Khan, 25, now a marketing executive for Clifton...
...Economists are divided, though, over how far Asia's policy makers will go to stimulate the region's economies in response to Wall Street's problems. Andrew Freris, senior investment strategist for Asia at BNP Paribas Private Banking in Hong Kong, says central bankers face "a conundrum." Though he says there is "psychological pressure" to cut interest rates, Freris believes that concerns about inflation and the continued strength at Asian financial institutions will keep them cautious. Policy makers "aren't going to jump because the U.S. is having domestic problems," Freris says...
...this year, but they cannot go ahead until a law governing them is passed. But politicians remain deadlocked over the law, unable to agree on the status of the oil-rich northern city of Kirkuk, which Kurds want to claim as part of their semi-autonomous northern region...
...Home to President Felipe Calderon, Michoacan state is used by cartels to harvest and traffic narcotics, including marijuana and opium. In recent years, the region has spawned a particularly brutal gang known as "La Familia," who once threw five severed human heads onto the dance floor of a disco. When Calderon took office in December 2006, the bespectacled lawyer began a national crackdown against organized crime, starting the campaign in Michoacan, where he sent soldiers into mountains to burn crops and seize safe houses. And the cartels have responded with a violent counteroffensive, killing more than 500 police, soldiers, judges...