In a country with vast oil wealth and lavish royalty, an estimated quarter of Saudis live below the poverty line. This is a vast reservoir of discontent if the Arab Spring decides to come home.
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President François Hollande is vowing to impose a 75 percent tax on the portion of anyone’s income above a million euros (.24 million) a year.
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Uganda signed two licenses with London-based Tullow Oil, a somewhat shady small player in the (oil) field. Now Tullow is allowed to sell two-thirds of its Uganda interests to China’s CNOOC Ltd. and France’s Total.
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Before Afghanistan descended into civil war, a French geologist collected massive data on the country’s mining resources. His findings, recently rediscovered, could unlock huge wealth in the troubled nation. But look who’s already busy exploiting it…
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New estimates of the former leader’s assets, more than 0 billion, are called ‘staggering.’ If they prove true, he would rank among the world’s most rapacious leaders.
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In about a week, the Afghan Ministry of Mines will announce that the China National Petroleum Corp. (CNPC) — the largest state-owned Chinese company — has won the rights to develop and explore several oil fields in the Amu Darya basin in northern Afghanistan.
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