In a radical shift to its business model, Procter & Gamble is targeting ultra-low-cost products as developing markets are expected to fuel future growth:
Part of oil companies’ windfall profits should be used to cushion the impact of high oil import bills on African economies, the African Development Bank’s new president proposed on Monday.
Some of you may have missed a nice profile of Ngozi Okonjo-Iweala in the Guardian a couple of weeks back.
"When I see vested interests still try to undermine me, I know it means I'm successful. When I manage to convince one person to change, I think this is why I'm here. The ability to change things is a powerful incentive."
The latest Interest Bearing Notes is out. This newsletter (published by the finance team of the World Bank’s research group, hence the witty pun) is always a good read. This edition covers everything from ‘the calm before a financial storm’, to family controlled companies, shorting Chinese stocks, and ‘all that math jazz.’
Ann Paterson studies the market for second-hand cars in Afghanistan:
During the conflict period, vehicles became popular as a form of small-scale investment after other assets such as real estate and agricultural land became insecure. Vehicles are still used as a store of value in the absence of an effective banking system. There is some anecdotal evidence that the car and motorbike trade may be used as a means of laundering money.