Word: slower
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Pirates aren't picky. Armed with Kalashnikovs and rocket launchers and using skiffs mounted with high-powered engines launched from "motherships" disguised as fishing boats, the buccaneers who prowl the waters off the Somali coast pick their prey from the passing shipping traffic like lions selecting a kill: the slower and more defenseless, the better. "We hijack every ship we can," Sugule Ali, a pirate captain, told TIME by satellite phone this week...
...South Korea and Vietnam. In China, weak export orders combined with rising costs are forcing tens of thousands of small factories to close in the country's industrial zones. The woes of exporters are felt throughout the region, which is tightly linked by trade in manufacturing parts and machinery. Slower sales to the U.S. mean reduced orders up and down the supply chain. "There are people who say you can still export to the emerging economies, especially in Asia," says Jun Saito, director general at the economic research bureau for Japan's Cabinet. "But you can't rely on exports...
...Nath and other government officials have been trying to reassure businesspeople and the markets that slower growth is a good thing - it might help get inflation under control - but the public isn't cheered. Opening this month is a new movie titled EMI, which stands for "equated monthly installments," an Indianism for an installment loan. The plot follows a thuggish Mumbai collection agent who, after hearing the touching stories of the people he is paid to intimidate, decides instead to help them resolve their crises by teaching them that more money isn't always the answer. "We made a film...
...slower news day, the deal might have gotten more fanfare. But in Washington, immediately after voting, the Senate went back to deliberating the financial bailout package. The Bush administration had achieved one of its most important foreign affairs successes, but there was more pressing business to be sorted out at home. Secretary of State Condoleezza Rice is expected in India later this week to ink the agreement with Indian External Affairs Minister Pranab Mukherjee. In India, news channels interspersed images from the deal being passed with footage of Oct. 2 bomb blasts in the northeastern state of Tripura. Neither...
...discovered she had lost $6,300. "But then I thought, I have still doubled my money since I first started investing and - as I wrote in my blog - this too shall pass," she says. While Biehl realizes the need to do something, she wants Washington to go a little slower and more deliberately with the passage of a bailout. "My hope is that we are taking a little bit of a break - hope we can find some sense of calm without that panicked feeling," she says. - By Hilary Hylton / Austin...