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Parallels
1:58 pm
Thu July 11, 2013

If Egypt's Political Crisis Looks Bad, Check Out The Economy

Egyptian drivers wait in long lines outside a gas station in Cairo on June 26. Along with a stuttering economy, traffic-clogging street protests and a crime wave, fuel shortages have come to symbolize the disorder of the post-Mubarak Egypt.
Hassan Ammar AP

Originally published on Thu July 11, 2013 5:00 pm

The spotlight on Egypt has focused on the the political fallout from the military coup that toppled an elected but deeply unpopular government. But if you think Egypt's politics are a mess, just consider the economy.

Tourism, a major revenue generator, has been hurting since the Arab uprisings of 2011 that toppled Hosni Mubarak. Foreign investment has shriveled. Unemployment in many industries has soared. Inflation has risen, making everyday goods more expensive. And there's a black market in currency and fuel.

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The Two-Way
1:52 pm
Thu July 11, 2013

Bernanke's Comments Lift Stocks To Record Highs

Originally published on Thu July 11, 2013 5:29 pm

Stocks surged Thursday after the chief of the Federal Reserve sent signals that the central bank wasn't in a hurry to stop helping the economy. When the markets closed, the Standard & Poor's 500 Index was at a record high. Other U.S. indexes were also up, including the Dow Jones Industrial Average, which rose nearly 170 points to a record 15,460.92.

Update at 5 p.m. ET: We've updated some figures in this post to reflect the markets' closing.

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Parallels
1:47 pm
Thu July 11, 2013

China Unveils Massive Building — With Fake Beach, Fake Sun

A view of the New Century Global Center in Chengdu, China. The structure — located in a suburb of Chengdu, in southwest China's Sichuan province — is home to an indoor beach and a faux Mediterranean village.
Barcroft Media/Landov

Originally published on Thu July 11, 2013 4:07 pm

The Chinese are calling the New Century Global Center, which opened in late June in Chengdu, the world's largest stand-alone structure.

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The Two-Way
1:26 pm
Thu July 11, 2013

Why We Aren't Assuming Snowden Is On That Jet To Havana

The more northerly route that Aeroflot 150 normally takes.
FlightAware.com

Originally published on Thu July 11, 2013 3:57 pm

Twitter has been abuzz with speculation that "NSA leaker" Edward Snowden is on Aeroflot Flight 150, which is headed to Havana from Moscow as we write.

What's the supposed evidence?

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Shots - Health News
1:16 pm
Thu July 11, 2013

After FDA Approval, Drugmakers Often Miss Study Mark

Even after drugs have been approved by the Food and Drug Administration, the safety studies continue.
iStockphoto.com

Originally published on Thu July 11, 2013 1:45 pm

The prescription drugs you take spend plenty of time on the drawing board before they end up in your medicine cabinet. But the research work doesn't necessarily stop then.

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