From the NYT:

While gloom haunts the newspaper industry in the United States and Europe, the business is flourishing in much of the developing world.

New newspapers — some backed by governments, others by business moguls and international conglomerates — are springing up from Rwanda to Tajikistan, attracting readers and advertising money.

In many of these markets, rising literacy rates dovetail with growing disposable income to create millions of potential readers. Circulation is rising by double-digit percentages at existing papers, while some Western media companies are forging partnerships and trying their hand at start-up companies as well.

From the NYT:

Arjun N. Murti remembers the pain of the oil shocks of the 1970s. But he is bracing for something far worse now: He foresees a “super spike” — a price surge that will soon drive crude oil to $200 a barrel.

Mr. Murti, who has a bit of a green streak, is not bothered much by the prospect of even higher oil prices, figuring it might finally prompt America to become more energy efficient.

An analyst at Goldman Sachs, Mr. Murti has become the talk of the oil market by issuing one sensational forecast after another. A few years ago, rivals scoffed when he predicted oil would breach $100 a barrel. Few are laughing now. Oil shattered yet another record on Tuesday, touching $129.60 on the New York Mercantile Exchange. Gas at $4 a gallon is arriving just in time for those long summer drives.

Mr. Murti, 39, argues that the world’s seemingly unquenchable thirst for oil means prices will keep rising from here and stay above $100 into 2011. Others disagree, arguing that prices could abruptly tumble if speculators in the market rush for the exits. But the grim calculus of Mr. Murti’s prediction, issued in March and reconfirmed two weeks ago, is enough to give anyone pause: in an America of $200 oil, gasoline could cost more than $6 a gallon.

Afterthought

I would be remiss if I didn't mention that last week, TD Bank chief executive Ed Clark said his instititution's policy on lending in western Canada is based on the belief that current commodities prices are too high.

New Jersey housewife Jane Novak has been vilified by allies of Yemen's government for her defence, via a blog that is banned in Yemen, of a journalist there charged with sedition.