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...limited, funds based on this type of investing tend to under-perform the market - an investor turnoff. Scandal has also taken its toll - in 2000, 17 former managers of the Dubai Islamic Bank were convicted of embezzling millions of dollars of investors' money. "Islamic banking is still a virgin territory," notes Rumman Faruqi, ceo of the London-based Institute of Islamic Banking and Insurance. "We have a lot of catching up to do." But the sector remains upbeat. "We are seeing more risk-taking innovations in Islamic asset management," says Rushdi Siddiqui, director of Dow Jones' Islamic Market Indexes, which...

Author: /time Magazine | Title: Banking On Faith | 12/8/2002 | See Source »

...holding a sliver of the fallen sky in my hand, and the fact that I'd robbed it from bin Laden added to its intensity. For thousands of years, painters have coveted lapis.Ground to powder and mixed with oils, it can render the perfect azure of the sea, the Virgin Mary's robes, or heaven. I wondered why bin Laden wanted all that lapis. Baubles for his four wives? I doubt he was trying to approximate the color of heaven; his experiments have all been in the crimson shades of hellfire...

Author: /time Magazine | Title: The Color of Passion | 12/8/2002 | See Source »

...There's no mist in the 1983 Twinkle Twinkle Little Star, a science-fiction satire that shows the locals, warts and all, as greedy or desperate folks. Lovely Tian-zhen (Cherie Chung) can marry her rich beau if she can prove she's a virgin. Just before the medical exam, she is abducted by aliens and impregnated. Alex Cheung's parody of Close Encounters of the Third Kind and Star Wars climaxes with a madcap battle between Darth Vader and a sleazy detective in drag. One lightsaber becomes a numchuk; another goes limp at a fatal moment ("Should...

Author: /time Magazine | Title: Oh, Brothers! | 12/2/2002 | See Source »

...doubtless imagine the trouble he gets into when he spies the beautiful, teenage Amelia (Ana Claudia Talancon), a passionately religious virgin and thus rather more inclined to yield to the priest than to her secular swain. You can also perhaps imagine the outrage that is greeting the release of El Crimen del Padre Amaro...

Author: /time Magazine | Title: Movies: His Collar Is Too Tight | 11/25/2002 | See Source »

...network overcapacity, crushing debt loads, stalling customer growth and desiccated stock prices?Mittal sits atop what is probably the world's last great growth market. India has more than a billion citizens, and most missed the late-1990s surge in mobile phone adoption. That means there's a near- virgin market of a billion (albeit mostly impoverished) people still waiting to join the wireless world. Now they are starting to sign up. In the last 12 months, the number of cell-phone customers surged nearly 80% to around nine million; meanwhile in China, the globe's biggest market with almost...

Author: /time Magazine | Title: Speed Dialing | 11/25/2002 | See Source »

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