Word: scrapped
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...India retreating into its old xenophobia? In this century British rule bred proud anticolonial traditions that combined with go-it-alone socialist policies to turn India into a black hole for foreign investors. Just four years ago, however, the government of Prime Minister P.V. Narasimha Rao began to scrap decades-old barriers to foreign capital, including restrictions on ownership and the repatriation of profits. Suddenly financial gurus touted India as the next hot spot for investment. Also reformed have been laws that made it impossible for foreigners to own a majority of an Indian company and forced them...
...looks like there's going to be a professional basketball season after all. This afternoon, NBA players rejected a long-simmering proposal by Michael Jordan, Patrick Ewing and other all-stars to scrap their players union. (Their agents think they can get better contracts by pursuing an antitrust lawsuit against the league.) "This is a clear repudiation of an agent-orchestrated revolt," says TIME sportswriter Steve Wulf. The losers may challenge the election results with legal roadblocks that could delay the opening of the season. But Wulf doubts the players will risk the enmity of NBA fans: "Basketball players...
...bill resonant of arms-race era defense initiatives, the Senate on Friday voted again to augment military spending. Specific outlays called for an additional $1.5 billion for the Seawolf submarine, increased spending on a domestic defense system against missile attack and a vote to scrap an earlier vow to discontinue missile testing...
...rationed carefully; overindulging only makes the want of it more keen. Last Wednesday afternoon about 50 people were on the street in the suburb of Dobrinja. The day was sunny, and many were digging in the makeshift vegetable gardens that Sarajevans have taken to cultivating in whatever scrap of dirt they can find. Suddenly, a Serb shell lanced in, killing six people. "The Serbs always like to catch us at such moments," said Nenad Tupajic, 26, a soldier who was patrolling the Dobrinja line. "That's their way of taking revenge...
Tacking on a series of provisions to a $13 billion highway-construction bill, the Senate voted to scrap the national 55-m.p.h. and 65-m.p.h. speed limits for passenger cars but decided to retain the limits for heavy trucks and buses. Senators agreed to leave motorcycle-helmet rules up to the states but insisted that "zero-tolerance" alcohol policies be adopted by all states for drivers under 21 and that federal seat-belt rules be retained. The bill now goes to the House...