Monday, August 17, 2009

Gates Foundation Liquidates Health Care Holdings

The Bill and Melinda Gates Foundation sold off nearly all its stock in health care and pharmaceutical companies last quarter.  The move comes amongst high anxiety over the potential effect of the proposed health care reform on the profitability of these companies in the future.

Nigeria Seeks to Differentiate Legitimate Microfinance Banks from the Illegal

Recent scandals involving money laundering and theft at illegal microfinance banks in Nigeria has put pressure on Central Bank of Nigeria (CBN) to increase regulation of these banks.  The CBN requires microfinance banks to display a license and publishes a list of legitimate banks, but admittedly lacks the resources necessary to actively seek out and pursue illegal banks.  It has asked the population to help in identifying illegal banks, which may prove difficult given the low literacy of many potential customers of these banks.

Fifteen Red Crescent Workers Kidnapped in Yemen

Shi’ite rebels in Yemen kidnapped 15 Red Crescent workers, including doctors, nurses, officials, and administrators, during a raid on refugee camp last week.  The rebels have displaced 17,000 families over the past week, but have denied responsibility for the kidnapping.

10 Gunman Attack U.N. World Food Program in Somalia

Ten suspect Islamic rebels assaulted the World Food Program compound in Somalia overnight.  The compound’s guards were able to fight off the attackers, killing three while suffering one injury.