The Egypt appears to be closer to adopting a new constitution drafted by the new Islamist Muslim Brotherhood dominated government.  The Egypt’s main ally, Iran supports the new constitution.  Since Iran and Egypt broke-off relations in 1979, the new Egypt’s President, Mohamed Mursi (or Morsy) visited Iran as the leader of Egypt after 30 years. […]

On December 19, 2012, South Koreans elected Ms. Park Geun-hye as its first female President.  The 60-year old is the daughter of longest-ruling former dictator Park Chung-hee who was assassinated in 1979.  Ms. Park received 51.6 percent of the votes casted during the election.  Since the adoption of the new constitution in 1987, she is […]

For the first time, the Federal Reserve introduced a new policy to spur economic growth in the U.S.  At its meeting in December, the Federal Reserve decided to tie the interest rate to unemployment and inflation.  The new policy received the support of almost all (11 to 1) of the Federal Open Market Committee (FOMC). […]

Last month China selected its new leaders for the next decade.  Its new leader, Xi Jinping, who is also the party secretary, is expected to be ceremonially installed in March 2013.  But he is busy making adjustments and issuing new directives. During the just concluded once in a decade power transfer, the outgoing leader highlighted […]