Word: regions
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...glory. As Dubai was finalizing its plans to buy OMX and trade it for 20% of NASDAQ, Qatar suddenly triggered a potential new bidding war by swooping up a nearly 10% share of the Nordic exchange. There may be room for more than one financial center in the region. Yet Dubai and Qatar seem bent on a showdown, with Dubai betting on its venture with the Americans and Qatar with the Europeans. "Both of them," one banker tells Time, "think there can only be one megaexchange in the Middle East." But they have jointly served notice to New York City...
Indeed, the NASDAQ deal illustrates the sophistication of gulf boardrooms, not to mention a determination to proceed with economic development in spite of the region's political instability. Borse Dubai originally got into a bidding war with NASDAQ over OMX. But when an intermediary suggested that they form a partnership instead, Borse Dubai quickly agreed. According to Borse Dubai chief Essa Kazim, the new arrangement gives Dubai access to even more expertise and global investors than it would have received in a partnership with OMX alone. "We felt we can complement each other," Kazim says. "NASDAQ can continue to expand...
...generals frequently refer to Somalia as the "third front in the war on terror." Hundreds of foreign Islamist fighters are heeding calls from Osama bin Laden to go fight in Somalia, according to analysts in the region. And militant leader Aden Hashi Ayro, wounded in the January strikes, has now recovered and is leading a reconstituted and overtly anti-American U.I.C. rebellion in Mogadishu. There is little question that such dire assessments are becoming increasingly accurate...
...shrouded in mystery. How did so many guerrillas manage to infiltrate a heavily guarded area? Why did it take so long to get reinforcements to the scene? How did the guerrillas and hostages leave? In their testimony, the men - all of whom were in different positions in a mountainous region near the Iraqi border - said they found themselves under fire and surrounded by PKK fighters; several said their guns jammed. According to news reports, they surrendered individually when they ran out of ammunition...
...which Latin America seems unable or unwilling to garner. The chavistas rightly argue that the distribution of capitalism's fruits has been grossly unequal in Latin America - which is a large reason why leftists like Chávez have been swept into power in recent years. But the region needs that investment nonetheless - and even leftists like Zapatero sound impatient with the region's mediocre performance...