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...

North Sea Cod Crisis Brings Call for Nations to Act

Craig S. Smith November 7, 2002
For the fisheries in ports and towns that depend on the North Sea cod, even more restrictions—or even a ban altogether—will soon follow the release of a scientific report outlining the perilous number of North Sea cod. The seemingly interminable discussions of the European Union’s fishing ministries on the matter have only let the cod stock dwindle. Other leaders, like the European Commissioner...

‘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...

Leftist Brazilian Victor Moves to Calm Nervous Markets

Larry Rohter October 29, 2002
Brazil is suffering a severe economic crisis. In the past year, the value of Brazilian currency has fallen by 30 percent, and the people are hungry and frustrated. Many now look to President-Elect Luiz Inácio Lula da Silva to guide their country out of dire economic straights. da Silva ran a campaign full of populist rhetoric – inspiring to Brazilians, but frightening to foreign investors who...

Beijing’s $2b Reminder to US Varsities

Jason Leow October 24, 2002
Recent clampdowns on immigration have prevented Chinese students from attending US universities. China Central Television claimed that China leads the world in providing graduate students to the US. Since 2001, however, larger numbers of Chinese students have had their visa applications rejected. A Beijing scholarship center noted that Chinese students contribute close to US$2 billion to...

World Donors Praise Kabul’s Budget and Development Plans

Carlotta Gall October 14, 2002
With the majority of its institutions and infrastructure in ruins following first civil war and then the war on terror, Afghanistan is urgently seeking international aid that would allow the country to get back on the road towards self-sufficiency. President Karzai and his government estimate the country will need at least $10 billion over the next few years to develop a viable economy. Thus...

World Court Rules for Cameroon in Prolonged Oil-Land Border Dispute With Nigeria

Marc Lacey October 11, 2002
The World Court has declared Cameroon the rightful owner of the Bakassi peninsula, ending the country's long-standing dispute with Nigeria. Located in the Gulf of Guinea, the Bakassi area is rich in oil and has provided important naval access for Nigeria. Concern that the Nigerian military might balk at the decision worried some observers, but many are encouraged that the presidents of...