August 21, 2011 |
When Lebo Malepa decided to rent out his bedroom and another room in 2003, his economist father doubted his son's ambitious vision for tourism in unlikely Soweto township. "Soweto is a township full of energy and full of trendsetters," Malepa said. "When I started my business, I was convinced I was going to make it happen. " Malepa's enthusiasm, hard work and ability to spot a market niche helped Lebo's Soweto Backpackers expand dramatically. He now has 57 bicycles and two tuk-tuks (three-wheelers)
December 30, 2010 |
The resurgent tide of international trade lifted nearly all major U.S. seaports this year, but none is gaining freight and jobs like Los Angeles and Long Beach, the nation's busiest cargo complex. Challengers competed harder than ever this year for cargo traffic that still trails the 2006-08 boom preceding the great global recession. They were aided in their efforts by retailers that spread their goods through more ports for greater flexibility. But sometimes size really does matter, as well as the local ports' relative proximity to Asia, trade experts said.
July 11, 2010 |
Whatever else they've thought about their much smaller neighbor to the north, Americans have almost never looked to Canada as a role model. Indeed, during the long, bitter push to revamp the U.S. healthcare system, opponents repeatedly warned that, if we weren't careful, we could end up with a medical system like Canada's. But on healthcare, as well as on such critical issues as the deficit, unemployment, immigration and prospering in the global economy, Canada seems to be outperforming the United States.
October 11, 2009 |
Three decades ago, the Yasnogorsk Machine-Building Factory stamped out thousands of pounds of steel and iron into parts for wagons, pumps and locomotives for Russia's mining industry. Now two-thirds of its stamping and welding machines have been shut down. The old Soviet-era equipment is rusting, and fewer than 280 employees clock in every day -- from a peak of 7,000. The factory that had kept this town alive since the days of the czar is on its last breath, the victim of a global recession that has shaken Russia to the core.
October 2, 2009 |
Finding the discount on a new Renault hatchback irresistible, lawyer Roni Figueiro of Porto Alegre, Brazil, took the plunge, plunking down $22,200 last week for the first new car he has ever owned. Prodded by government incentives, consumers like Figueiro are not just keeping the Brazilian economy afloat amid the global crisis but propelling it toward a robust recovery next year, according to a survey of Brazilian economists made public by the central bank last week. The expected recovery is another example of how things seem to be breaking Brazil's way. Today, the nation will find out whether Rio de Janeiro will host the 2016 Summer Olympics.
July 10, 2009 |
Addressing leaders of the world's most important economies early Thursday, President Obama wasted no time in proclaiming a new day for U.S. policy on climate change. "I know that in the past, the United States has sometimes fallen short of meeting our responsibilities," he said. "So let me be clear: Those days are over."