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“8 June, 2009

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Washington will have to play a special role in this new perestroika, not just because the United States wields great economic, political and military power in today’s global world, but because America was the main architect, and America’s elite the main beneficiary, of the current world economic model. That model is now cracking and will, sooner or later, be replaced. That will be a complex and painful process for everyone, including the United States.

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Mikhail Gorbachev, the last general secretary of the Communist Party of the Soviet Union, in Mikhail Gorbachev — Time for a Global Perestroika - washingtonpost.com (via quotingthecrisis)

Ha!

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25 May, 2009

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North Korea nuclear test location

NORTH KOREA HAS TEST-FIRED A SHORT-RANGE MISSILE AFTER CONDUCTING AN UNDERGROUND NUCLEAR TEST, SOUTH KOREAN MEDIA REPORT

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19 February, 2009

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Credit-crunched Russian billionaire asks for the £39million deposit he put down on world's most expensive house

Map of the French Riviera.Image via Wikipedia

A Russian billionaire is desperately trying to claw back his £39million deposit after a deal to buy the most expensive house in the world fell through.

Mikhail Prokhmorov - who is Russia’s richest an and is worth £9.8billion - offered £500million to buy Villa Leopolda on the French Riviera last August.

But since then the 48-year-old metal tycoon has lost billions thanks to the international financial crisis.

Mr Prokhorov has asked for his deposit back from Lily Safra, widow of Lebanese banker Edmond Safra.

But she has refused his request, telling estate agents: ‘The deal was agreed in  principle, and the money is owed to me.

Credit-crunched Russian billionaire asks for the £39million deposit he put down on world’s most expensive house | Mail Online

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†30 October, 2008

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Cost of remittances | The Economist As many as 190m migrant workers sent money home in 2007, according to the World Bank. Remittances that could be tracked reached $337 billion last year, of which $251 billion went to developing countries. The cost of sending money depends on both its source and its destination. On average, it costs only $7.68 to send $500 from Spain to Brazil, a 1.5% fee. By contrast, it costs a whopping $86.41 (a charge of 17.3%) to send the same sum from the Netherlands to Indonesia. The Netherlands, Germany and Japan tend to be the most expensive places to send money from. Remittance costs are generally lowest in Russia, Saudi Arabia, Spain, Singapore, America and Britain.

Cost of remittances | The Economist

As many as 190m migrant workers sent money home in 2007, according to the World Bank. Remittances that could be tracked reached $337 billion last year, of which $251 billion went to developing countries. The cost of sending money depends on both its source and its destination. On average, it costs only $7.68 to send $500 from Spain to Brazil, a 1.5% fee. By contrast, it costs a whopping $86.41 (a charge of 17.3%) to send the same sum from the Netherlands to Indonesia. The Netherlands, Germany and Japan tend to be the most expensive places to send money from. Remittance costs are generally lowest in Russia, Saudi Arabia, Spain, Singapore, America and Britain.

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