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The Dubai debacle triggered immediate concern about a new wave of financial problems rippling through global markets. Stock-market indexes plummeted, the cost of insuring against a default by Dubai jumped and the dollar strengthened as investors rushed back into greenbacks. On Friday afternoon, stock markets made something of a...

Author: /time Magazine | Title: Will Dubai's Financial Problems Spread? | 11/27/2009 | See Source »

Even if the final tally indicates sales surpassed last year's numbers, it's not necessarily clear sailing for retailers through the holiday season. The average shopper spent $372 over the Black Friday weekend last year, which was up from $347 the previous year, says Grannis. Yet, holiday sales, which...

Author: /time Magazine | Title: Black Friday Sales Were Encouraging, Retailers Say | 11/27/2009 | See Source »

José Bonifaz, an economist at Peru's University of the Pacific, calculates in a new book that the road will generate close to $2 billion for local communities in the coming two decades. The government forecasts that the highway could add a full percentage point to GDP. Brazil will...

Author: /time Magazine | Title: How a Little Town in Peru Is Becoming a Hotspot | 11/26/2009 | See Source »

On Thursday, India's bustling financial capital will mark the one-year anniversary of last year's three-day terrorist siege with a flag march through south Mumbai and the ceremonial re-opening of the iconic Taj Mahal Palace and Towers Hotel. But the trial of Mohammed Ajmal Amir Qasab...

Author: /time Magazine | Title: One Year After the Massacre, a Trial Plods On | 11/26/2009 | See Source »

That belief is central to Nikam's case, and he has spent months putting into evidence the satellite phone calls and financial records that Indian authorities say prove that the attacks were planned by a jihadi network based in Pakistan. U.S. investigators and U.S. citizens who witnessed the attacks gave...

Author: /time Magazine | Title: One Year After the Massacre, a Trial Plods On | 11/26/2009 | See Source »

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