August 8th, 2011
08:34 PM GMT
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After fifteen years of civil war, large parts of Beirut were reduced to rubble.

Many of the city's historic and traditional buildings were among those destroyed. Now, the buildings that did survive could get knocked down as part of the city's rebuilding.

Future Cities talks to one woman about her battle to save Beirut's heritage.



August 8th, 2011
06:27 PM GMT
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U.S. downgrade or European debt crisis? Which is more important? I keep getting asked this question again and again. And it is a good question to ask. Both crises have enormous implications, some more immediate than others.

The U.S.downgrade has a slow burning effect. For instance, U.S.bonds being used to guarantee Israel's debt have been downgraded. Housing loan groups Fannie Mae and Freddie Mac have also been downgraded because they rely on U.S. treasury bonds as their ultimate guarantee.

And certainly the credit rating downgrade changes the rules forever – as PIMCO CEO Mohamed El-Erian said on Saturday, the global financial system is constructed around the U.S. AAA rating being a constant, it is the cornerstone around which everything is built. Even though it may be restored at some time in the future, the fact is that it has gone, the unthinkable has happened.
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August 8th, 2011
06:17 PM GMT
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After five years and $2 billion the casino resort The Galaxy Macau is ready for launch. Our boss there is Francis Lui.

It's a moment of truth in episode 35 of "The Boss", as we find out what it took to get here for Lui as he opens his "baby."

Filed under: The Boss


August 8th, 2011
02:04 PM GMT
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In China, the state-run media is full of scathing editorials about America's mounting debt. 

Commentary published by the Xinhua news agency over the weekend stated the U.S. should live within its means. The agency said the alarm has rung and Washington politicians need to stop playing chicken. 

An article in the Communist Party newspaper Global Times reads "The World Should Kick America's Behind". 

The downgrade of U.S. credit by ratings agency Standard and Poor’s from AAA to AA+ is feeding fears in some circles that China could damage the American economy, by selling its massive debt holdings. 

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