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In The News

This Happened — September 21: Al-Shabaab’s Westgate Mall Attack

On this day in 2013, armed militants from the Islamist extremist group Al-Shabaab stormed the upscale Westgate Mall in Nairobi, Kenya, targeting shoppers and employees in a violent siege. The siege took place from September 21 to September 24. Who carried out the attack on the Westgate Mall? The attack was carried out by Al-Shabaab, […]

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In The News

What Happens To Malls After Retail Shuts Shop?

DETROIT — Outside Detroit, plans have been in the works for two years to transform the outdated Lakeside Mall into an open-air center with green space and a waterway. With the property in foreclosure and its ownership in limbo, the blueprints will have to be flexible. The mall’s troubles have spiraled since landlord GGP Inc. stopped paying the mortgage last year and then failed to find a buyer for the property amid turmoil in the retail industry. The center’s value, already less than the $135 million loan, was slashed another $25 million in February. Officials for the city of Sterling […]

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Economy Society

In Burma, Time To Cash In On Political Reforms

YANGON — Burma is ready to boom. The Asia Development Bank estimates that per capita income in the southeast Asian country could increase sixfold by 2030. And another report predicts that the Burmese are poised for a level of economic growth far ahead of the global pace. The evidence of this newfound prosperity in Burma, officially known as Myanmar, is on full display at this Yangon shopping mall, where it’s easy to find products from Thailand or Hong Kong. Just two years ago, none of this would have been possible because foreign products were banned under the military junta. University […]

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blog

Discount Russia

Ten years had passed since the collapse of the Soviet Union, yet there was still something end-of-an-era-esque in the imposing GUM, the State Department Store near Moscow’s Red Square. The banner reads “Summer Discounts, Up To 50% Off.”

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