Word: third world
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...raincoats, it turns out, have holes in them. With the chances for a global recession increasing, it's becoming clear that not even the world's fastest-growing major economy can avoid a pronounced slowdown. Any remaining hopes to the contrary were dashed recently when China's National Bureau of Statistics released the country's latest economic data: in the third quarter, GDP growth had slipped to 9%, the slowest quarterly pace since 2003. Meanwhile, estimates for 2009 growth are being slashed to as low as 8%, which would be a dramatic deceleration from last year's 12% rate...
...private consortium snapped up in January for about a third of what Gazal had paid for it eight years before. The new owners' plan is to revert to the original Mambo recipe of humor, social commentary and art, while stirring in a fistful of contemporary spices. Co-owner Angus Kingsmill told TIME: "We believe Mambo has massive global potential. It would take almost a perfect storm to stop us." In the shape of the meltdown on financial markets, something like that storm is rattling the windows of businesses across the world. Preparing for Mambo's November relaunch, Kingsmill concedes that...
...Even more than the lower prices, OPEC leaders have been jolted by the lightning speed with which they have tumbled. But their influence over prices is more limited than many in Western countries believe, or OPEC members would like: OPEC members, in fact, produces only one-third of the world's oil; the rest comes from Canada, Russia, Mexico, and several smaller countries. The cartel sets production quotas for each member, but those are routinely violated by bigger players, like Saudi Arabia, whose well usually have spare capacity. "We saw that when prices went up to $145 a barrel OPEC...
...neighborhood.City Councillor Sam Seidel, while applauding Lesley’s growth, said he has some reservations. “We’ve got to be very careful—we’ve already got two world-famous universities in the city who are major landholders,” said Seidel, who is an urban planner. “A third large educational institution in Cambridge is going to bring benefits but also requires we think carefully about how we develop that relationship.”—Staff writer Bora Fezga can be reached at bfezga@fas.harvard.edu...
...three shows since, funny has indeed remained funny. While the comedy stays constant, the cause changes from year to year. In 2006, for example, the HCC donated the show’s proceeds to Deep Roots, a third-world scholarship organization. In 2007, HRC gave their earnings to Kiva.org, which supplies micro-loans to entrepreneurs in developing nations...