Word: states
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Dates: during 2000-2009
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...That was made clear on Nov. 25 when the city-state of Dubai shocked the global investment community by asking creditors of its main corporate arm, ports-and-property conglomerate Dubai World, for a six-month payment standstill on its almost $60 billion of liabilities. The surprise hit stock markets in Asia and the U.S., while sending investors scrambling for safe havens like the U.S. dollar. Experts have since engaged in a rabid round of speculation over what the Dubai debt crisis might mean for the world economy. Some see the problem as little more than a big real estate...
...stilettos, three young women bend over ironing boards, pressing men's shirts before a live studio audience. They're competing to be schedine, young women who dance a little, wear little and say little on Quelli Che ... Il Calcio (Football Fans), a popular Sunday afternoon show on Italian state TV. "Schedine have to be beautiful, but they've also got to be practical," grins the show's presenter. "Let's see how they do!" An ex-footballer descends to judge the ironing contest, awarding the prize to a lissom blonde...
...Minister handed out the keys of new homes to quake victims in September, two popular shows were bumped from other channels to avoid a clash. Italy is now the only country in Europe whose leader owns the media: Berlusconi's Mediaset stations, and his government's control of the state-owned RAI, means he has cornered 90% of the television market, in a country where an estimated 80% of the population gets its news from television. Criticizing Berlusconi can be costly. Since the stories about Letizia and alleged dalliances with prostitutes broke this summer, the newspaper La Repubblica has been...
...appetite from investment banks to buy these credits." Merrill Lynch calls Ulu Masen "the world's first commercially financed avoided deforestation project." Money has been followed by political muscle: a year later, Arnold Schwarzenegger of California, along with the governors of Wisconsin and Illinois, signed a deal committing the state to finding ways to incorporate forest credits within U.S. carbon-trading systems. Ulu Masen is expected to generate $26 million in carbon credits in its first five years...
...incentives are more tangible than cash. Conservationists are considering cash payments to farmers in the Brazilian state of Mato Grosso to stop them destroying the forest for agriculture. But with 120,000 households around Ulu Masen, even a multimillion-dollar sale of carbon credits might amount to only $100 to $200 a year per family, estimates Linkie. The money might be better pooled to build schools, bridges or other projects that would benefit the entire community. However it is distributed, a very clear message must be sent to the local communities, says Linkie: "You're getting this [money] because...