In The News

McDonald’s to Close Restaurants Amid Restructuring

Associated Press November 8, 2002
Faced with falling profits, the US-based McDonald’s Corp. has found it necessary to restructure the corporation by slowing down expansion and overhauling U.S. restaurants. McDonald’s also plans to pull out of or restructure in at least seven nations, all located in the Middle East and Latin America. In addition, the corporation will cut individual struggling franchises in at least ten other...

‘Blood Diamonds’ Polished Off

November 5, 2002
After coffee, it’s now turn for diamonds. A worldwide campaign by NGOs brought about a new brand -- Fair-Trade Certified Coffee -- that ensures the coffee beans were bought from growers at fair trade condition. Now a global campaign against the so-called “blood diamond”, the stones mined and smuggled out by armed groups in Africa to finance civil wars or illegal operations, has brought some...

Controlling Iraq’s Oil: Not So Easy

Serge Schmemann November 3, 2002
Though the countries opposing the war in Iraq may have valid moral or ideological reasons behind their position, they also have trade ties to the country that might be threatened by a war. The US, on the other hand, may have economic interests driving it to push for an invasion of Iraq. America's motivations certainly may include security concerns, but the prospect of gaining a private gas...

Occupancy Rates Plunge to Only 11 Percent in Bali

A’an Suryana October 25, 2002
Recent terrorist bombings in Bali have pushed the island to the brink of an economic crisis. With an occupancy rate of 11 percent in the 1,400 hotels, tourism is almost non-existent. Bali derives about 40% of its income from tourism and side services that cater to tourists. But there seems to be little the island can do. Most of the countries from which the victims of the bombing hailed have...

Seoul Criticized for Sweeping Information on North Korean Nukes under Carpet

Hwang Jang-jin October 21, 2002
The North Korean revelation about its secret weapons program has emerged as a hot new issue in the South Korean election campaign. The fact that the South Korean government was informed by the US of North Korea’s secret program in August but it kept quiet about it is being used to blast the government of president Kim Dae Jung, who won a Nobel Peace Prize for his reconciliation effort vis-à-...

Music Industry in Global Fight on Web Copies

Amy Harmon October 7, 2002
For a while, Napster was the darling of music-swapping college students and the bane of American entertainment industry officials. Litigation in US courts effectively bankrupted the company a year ago, but now a new multi-national file exchange service may be taking Napster's place - in popularity, and in US courtrooms. Already counting millions of users around the globe, KaZaA:geography...

Malaysia Lures Sick and Wealthy Foreigners

Reme Ahmad September 19, 2002
With hospital costs 14 times less than in the US and 65% less than in neighboring Singapore, Malaysia is promoting a new type of tourism – one where a hospital stay is included. Health tourism, as it is known, is becoming increasingly popular among the wealthy, who may travel to foreign countries to have surgeries performed at a fraction of the cost of their home country. Malaysian hospitals...