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Russia needs foreign companies to plug a huge hole in Putin's economic policies. During his first term, Putin introduced modern tax and corporation laws. But he failed to spur the development of a business infrastructure that would enable Russia to shake its overreliance on energy and metals. Now, as the crisis starts to bite, the Kremlin is reacting by increasing its control over broad swaths of the economy. Through the state-controlled banks, it is bailing out selected business executives who are having trouble paying their debts--including Oleg Deripaska, a metals tycoon who until recently was Russia...
...Bush Administration's effort to press reluctant European allies to admit Ukraine and Georgia into NATO. But Russia also has a direct interest in the outcome in Afghanistan. Moscow has made clear that a NATO failure in Afghanistan would be a disaster for Moscow, because a Taliban victory would spur an Islamist challenge all along Russia's southern flank. Better to have NATO stop the jihadists than to have to rely on Russian troops...
...fiscal stimulus bill is intended to create new jobs and spur the economy out of the current recession as well as promote long-term growth and development. The combined $6.5 billion of funding for the National Institutes of Health and the National Science Foundation that the package contains will be useful in promoting both of those goals...
...have the debate he promised, the rigorous test of "Do we need this?" and "Can we afford it?", for all the other programs currently marinating in the bill, whether the honeybee subsidy or the Pell grants or the medical research or any of the proposed investments meant to spur long-term recovery and growth...
Rome-ing Heart. Rome Cavalieri, part of the Waldorf-Astoria collection of luxury hotels, brings out the big guns. Dazzle your opera-loving sweetheart with a private in-room performance by a tenor, followed by a ride in a vintage Rolls-Royce Silver Spur, a bottle of Dom Perignon Rosé, red roses and a gift from Tiffany's. At $1,290 per night, all this glamour doesn't come cheap. But, hey, your 401(k) isn't going to buy you much in 20 years anyway. Via Alberto Cadlolo 101, +39-06-3509-1 (See 10 things...