Jun 28, 2010
BP spill costs up to $2.65B; denies CEO resigning - Yahoo! News
TIME's Global Forum Day 2: China and Africa's Deepening Ties
With an enormous delegation of top Chinese business leaders in Cape Town, it was hardly surprising that the role of China in Africa's economic development should have emerged as a key topic at the TIME/FORTUNE/CNN Global Forum.
As Trevor Manuel, Minister in the South African Presidency and former finance minister, reminded the conference, Chinese investment in Africa is hardly new — the famous Tan-Zam railroad, designed to take Zambian ore to the coast in Tanzania, was funded by the Chinese as long ago as the 1970s. But the scale of recent Chinese investment in Africa — encompassing everything from resource extraction to agriculture to finance (China's ICBC owns 20% of South Africa's Standard Bank, for example) has been extraordinary, making sessions on China at the Forum a palpable hit. It isn't just Chinese investment that won the attention of delegates, however. It was also the sense that China — with its enormous parastatal companies and strategic direction of the economy by state agencies — offered an alternative model for growth from the market fundamentalism which, as economist Ken Courtis agued, had held sway since the collapse of the Bretton Woods world some 30 years ago. (See pictures of China's investments in Africa.)
As Trevor Manuel, Minister in the South African Presidency and former finance minister, reminded the conference, Chinese investment in Africa is hardly new — the famous Tan-Zam railroad, designed to take Zambian ore to the coast in Tanzania, was funded by the Chinese as long ago as the 1970s. But the scale of recent Chinese investment in Africa — encompassing everything from resource extraction to agriculture to finance (China's ICBC owns 20% of South Africa's Standard Bank, for example) has been extraordinary, making sessions on China at the Forum a palpable hit. It isn't just Chinese investment that won the attention of delegates, however. It was also the sense that China — with its enormous parastatal companies and strategic direction of the economy by state agencies — offered an alternative model for growth from the market fundamentalism which, as economist Ken Courtis agued, had held sway since the collapse of the Bretton Woods world some 30 years ago. (See pictures of China's investments in Africa.)
Senator Robert Byrd Dies at 92FORISH
For more than a third of its 144-year existence, the state of West Virginia was represented in the U.S. Senate by one man: Robert C. Byrd. So encompassing was Byrd's 50 years of service in the Senate and so encyclopedic his institutional knowledge that by the time he died early Monday morning he had become not just the political personification of West Virginia in the nation's capital, but the embodiment and ambassador of the Senate itself to the rest of the country. Byrd was admitted to hospital last week for dehydration, and his condition worsened over the weekend as he became critically ill. Twice its majority leader, a master of its all-powerful rules and a fierce defender of its prerogatives, Byrd was as much a part of the place as the wooden desks, steep-sloped galleries and soaring speeches that filled it. Byrd was 92.
The World's Most Expensive Cities 2010
by Venessa Wong
Saturday, June 26, 2010
provided bySaturday, June 26, 2010
For Americans overseas, exchange rates and cost-of-living adjustments can make living overseas more expensive than back home.
New York ranks only No. 29
| More from BusinessWeek.com: • The World's Most Expensive Cities 2010 • Countries with the Most Millionaires 2010 • Most Expensive Homes in America's Biggest Cities |
German keeper feels he ‘fooled the referee’ - International Football - Yahoo! Sports
Manuel Neuer watches the ball drop over the line.
(Cameron Spencer/Getty Images)
(Cameron Spencer/Getty Images)
Jun 27, 2010
Orthodox fathers freed in Israel
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Israel invites EU ministers to Gaza
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Spanish train accident kills 12 - Europe - Al Jazeera English
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Georgia tears down Stalin statue - Europe - Al Jazeera English
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