Word: subs
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...Petro-economies once seemed impervious to the American sub-prime mortgage mess. That view is reflected in a grim joke making its way around Wall Street and the City of London about the options left for laid-off bankers: "It's Dubai, Mumbai, Shanghai, or goodbye." But the reality may be even grimmer. In fact, Dubai and the other oil-enriched regions of the Arab world aren't quite the safe havens they once were. Western and Middle Eastern markets are more closely intertwined than they were during the 1970's oil boom. But recently, Arab exchanges have been...
...start with annuities and life insurance. If you have a variable-rate annuity, your money is most likely in mutual-fund-like sub-accounts. You own those sub-accounts, as you would own stocks through a brokerage. Those are your assets - a creditor won't be able to touch them...
...Internet, a percentage far lower than in Asia, Europe or the Americas. In only a handful of African countries do more than 1% of the population use broadband services. (Among OECD countries, broadband penetration averages 18%.) And the services that exist don't come cheap. Broadband costs more in sub-Saharan Africa than anywhere else in the world: consumers in the region spent an average of $366 each month for speedier Internet access in 2006, according to the World Bank. Users in India, meanwhile, paid just...
...Still, whizzy schemes to connect millions of Africans can't guarantee users access to the services they need the most. Most of the $23 billion poured into sub-Saharan Africa's information and communication technology (ICT) infrastructure between 1996 and 2006 came from the private sector. In one sense, that's positive. Those telecom firms aren't diverting money away from other areas no less hungry for investment. But, says Raul Zambrano, ICT adviser in the United Nations Development Program's Bureau for Development Policy, "it doesn't address the issue of development." Just as important as connecting poor people...
...really the use of the strategic payout.” Harvard’s $36.9 billion endowment is the largest in higher education, though it trails Princeton’s $16 billion endowment on a per-capita basis. Under increasing scrutiny, Harvard and other wealthy universities have defended their sub-five percent payout rates as necessary to build a cushion against periods of financial downturn. Several of Harvard’s schools are heavily dependent on endowment money to fund their operating budgets. While some Harvard schools, like the School of Public Health, draw most operating revenue through grants...