Bondholder Kenneth Dart, after staying quiet, says he wants full payment—just like Paul Singer
Does SodaStream's turn toward branding itself as a sparkling water vendor—and its dismal financial performance—suggest that it's seeking a different future?
A federal judge in New York refuses to exterminate an asbestos union's inflatable rat, saying "Scabby the Rat" is covered by the First Amendment
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Dominique Strauss-Kahn acquired a 20 percent stake in a Luxembourg finance firm last year, but quit his chairmanship on Oct. 20. His ex-partner Thierry Leyne died on Oct. 23
Ministry of Supply’s Aviator jacket combines the structure of a tailored garment with the functionality of a windbreaker
Marvel isn't keeping quiet about its movie plans now that DC has publicized its long slate of superhero vehicles
The schools are spending $52,000 to mail 100,000 apology letters to Montana voters
This year's must-have Silicon Valley office accessory: a $199 bear costume
Budget balance: -6.4% (as % of GDP)
Current account: -8.6% (as % of GDP)
Sovereign credit rating: B/Negative
Stock market: -49.5% (2008 YTD, in U.S. dollar terms)
Pakistan is one of the most dangerous countries in the world, and its finances are suffering for it. Political instability has caused foreign portfolio investors to flee, and foreign direct investment has slowed to a trickle. As a result, the capital inflows that have helped pay for the country's current account deficit have dried up, and the central bank’s foreign currency reserves have fallen from $14.4 billion a year ago to just $4.9 billion as of Oct. 4. Pakistani leaders met with officials from the International Monetary Fund on Oct. 21 to negotiate an estimated $10 billion to meet short-term balance-of-payments obligations. However, Standard & Poor’s Associate Director of Sovereign Ratings Agost Benard says that country’s banking sector is fairly undeveloped (bank lending accounts for just 30% of GDP), so the government should be able to afford to bail out banks if necessary.