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In this issue
Edition: Asia
Vol. 168, No. 2

COVER
Russia's New World Order (Cover Story)
Buoyed by expensive energy and a booming economy, the Kremlin is once again flexing its muscles abroad—but very carefully


WORLD CUP 2006
The Crying Game
After dazzling in 2002, Asia suffers a cruel reminder that it takes time to forge a soccer superpower


BUSINESS
Eyes on the Prize
A bid for Hong Kong's PCCW is just the latest example of Macquarie Bank's gift for detecting rich opportunity in unglamorous assets


NOTEBOOK
No Answer to Arroyo's Prayers
Despite a papal seal of approval, the Philippine President's woes aren't over

Milestones

Letters
What Happened at Haditha?

Search inside this issue:

GLOBAL ADVISER
White Nights (Check In)
Taipei's monochromatic Ambience Hotel is the choicest stay for the style-conscious

Spa Gazing (Diversions)
Hong Kong's venerated Peninsula hotel opens one of the city's most extravagant spas

A Wild Night Out (Amuse Bouche)
If you like a taste of scorpion with your crocodile, grab a table at London's Archipelago

Off-Peak, On Budget (TIME Traveler)
How to hit the world's great destinations when the crowds aren't there

Knock Knock, Who's There? (Tech Watch)
Jacob Jensen goes from designer bling to designer rings


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TAREQ AND MICHAELE SALAHI, a climbing socialite couple from Virginia, in a joint Facebook post, after having allegedly crashed the Obamas' first state dinner without an invite