Fashion Disaster: Luxury Takes a Hit in Moscow

Fewer Bentleys cruise the streets of Moscow these days, sushi sales are down, and construction on Europe’s tallest tower has halted for lack of money. For fashionistas at the opening of the 18th annual Russian Fashion Week on Sunday, the most potent sign of the times was the sight of people wearing last year’s styles. “Even the very rich aren’t just going out and buying anymore,” says Tatyana Ageyeva, a buyer who has worked for élite labels like Kenzo and Hugo Boss for nearly a decade.

Share

Can the West cultivate ideas from Cuba’s ‘Special Period’?

Since the revolution in 1959 Cuba has been many things to many people, but the collapse of the Soviet Union meant few have seen the island state as a vision of the future. As worries about “peak oil” grow in developed nations, the communist republic is proving to be an increasingly popular example of how to cope when the spigots run dry, for the simple reason: they’ve already been there. With the loss of supplies from oil-rich Russia in 1991, and a U.S.

Share

Officials: Afghanistan strategy formed with great deliberation

President Obama’s unveiling Friday of a new U.S. strategy in Afghanistan and Pakistan was made only after a thorough interagency review of the region with input from several sources, administration officials said. “The president wants to make sure that this mission has a focus and a clear, concise goal,” said Bruce Riedel, who served as chairman of the review.

Share

Global Trade: The Road to Ruin

In Shanghai not long ago, I took a walk from my hotel along Nanjing Road to the Bund, the promenade on the banks of the Huangpu where visitors from China’s hinterland gather to gaze across the river, awestruck, at the ultramodern skyscrapers of Pudong that have transformed the city’s skyline in not much more than a decade. It wasn’t what was on the far side, though, that got my attention: it was the traffic on the river itself, great container ships, chuffing lighters, bulk carriers, every sort of waterborne vessel you could imagine carrying every imaginable cargo, churning up the waters

Share

FIFA confirm 2018 and 2022 World Cup bidders

FIFA have confirmed which countries have made a bid to host the 2018 and 2022 World Cups. All 11 candidates had already stated their intention to stage the game’s showpiece event with Tuesday’s announcement confirmation that FIFA had received their bid registration forms

Share

North Korean premier arrives in China

North Korea Premier Kim Yong-Il arrived in China on Tuesday for a five-day visit that coincides with the 60th anniversary celebration of diplomatic ties between the two countries, state media said. The visit is the first for Kim, who was elected in 2007. He is not related to North Korean leader Kim Jong-Il, who controls the country’s military

Share

Iran’s Khatami won’t run for president, state news agency says

Iran’s moderate former president will not challenge President Mahmoud Ahmadinejad in the upcoming presidential election, the state-run Fars news agency said Monday. Mohammad Khatami said last month that he would run in June, ending weeks of speculation, the state-run IRNA news agency reported February 8. But he now says he will instead support moderate candidate Mir Hossein Moussavi, Fars reported Monday

Share