| Latin America braced for market waves
But developments in global markets this year suggest Latin America may be losing its lustre. Stock markets across the region have fallen faster than most of the rest of the world, with an average decline of nearly 16 per cent since the beginning of the year. There are fears that a US recession and falls in prices for industrial commodities could undermine growth. As the Argentine central bank put it on Wednesday: “For our country this is the first stress test since the crisis of 2001 and 2002." Many say the gloom is overdone. The US may be declining but the robustness of other emerging markets, especially China, will help Latin America weather the storm, they say. In the longer term the region's markets are “negatively correlated" in relation to Europe and the US, says Jerome Booth, head of research at Ashmore Investment Management in London.
African arts at Newark Arts
Devotees of African performing arts won't have to travel far this weekend to indulge their passions. This is the second year that Karen Love, the artistic director of Montclair's Umoja and Usaama dance companies, and Philip Thomas, executive director of Newark Symphony Hall, have collaborated to present the Wofabe African Dance and Drumming Festival at Newark Arts High School. The two-day event, which begins Friday, features open classes, an African marketplace, a panel discussion Saturday morning, and a performance Saturday night. Love says she expects hundreds of attendees. With its $40,000 budget raised through donations and ticket sales, Wofabe can't compare in size with the annual DanceAfrica Festival at the Brooklyn Academy of Music. Yet some participating dance companies are the same, like the Kulu Mele African-American Dance Ensemble from Philadelphia.
Public-safety building cost jumps to $81 million
Without turning to the public for support, the cost of a new public safety building would jump to $81 million, not including interest payments over 30 years, the new Palo Alto Finance Committee learned Tuesday night. Construction inflation has pushed the cost of the building -- to be located at 2785 Park Boulevard -- to $69 million by the time construction could begin by April 2009, according to a city staff report. But with debt financing, the cost jumps to $81.2 million, Deputy Administrative Services Director Joe Saccio wrote in a report. The city would also have to pay about $5 million in interest annually for 30 years, resulting in some service cuts, City Manager Frank Benest told the committee Tuesday. The city is considering financing the public safety building using "certificates of participation" (COP) after a preliminary poll showed the needed two-thirds of voters are unlikely to approve a bond to pay for the new 50,000-square-foot building.
Real estate - Search listings in Carmel
Looking for a place to call home? Click here to see featured homes for sale and to find a local real estate agent that will help you find the perfect home for you and your family. Look for the latest edition of Northside Neighborhoods every Saturday inside The Carmel Star. .
Auto Industry 1991-2000
It is quite possible that even if the auto industry does not recover its former strength, within a few years it will be equal in strength to the primary sectors of the economy.
HISTORY: 1991-2000
The Russian automotive industry is unique. It produces cheap, obsolete, low-quality products whose export potential is close to zero. Nevertheless, events in the history of its privatization and subsequent redistribution have always made the front pages of newspapers. All because the Soviet-era dream of a private car is still a dream for the majority of our country's residents.
1991
In February, the shareholders of AO KamAZ held their first meeting. Nikolai Bekh, head of the foundry division, was elected president. KamAZ was turned into a corporation in June 1990 by a decision of the government of the USSR: 38% of the shares became the property of the union, 13% became the property of Tatarstan, and the remaining stocks were put up for sale.
Mayor announces Luminaria arts celebration
(Jan. 28, 2008)--Mayor Phil Hardberger and Marise McDermott of the Witte Museum and chair of the Luminaria Committee today announced San Antonio's inaugural Luminaria: Arts Night in San Antonio, a March 15 celebration of San Antonio's creative spirit featuring the unprecedented collaboration of local artists and nonprofit organizations. .
Lisa Heyamoto: A $25,000 kitchen for a lucky guy
When you do something good for the environment, the environment does something good for you. At least, it does if SMUD is the middleman. The utility district recently awarded a $25,000 backyard dream kitchen to a customer who had participated in several of its efforts to increase energy efficiency in the home. The lucky winner? None other than former Kings owner Gregg Lukenbill, who automatically qualified for the contest after installing an energy-efficient pool pump. .
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