Insights & Briefings
A curated archive of partner essays, quarterly market briefings and sector notes — written in Kabul, for those who take the long view.
After two years of dislocation, the Hairatan and Torkham corridors are recovering volume on the back of regional fertiliser, cement and consumer flows. We assess what is structural, what is cyclical, and where the asymmetry now sits for capital deployed before mid-2026.
The Archive
Why Afghan saffron continues to outperform Iranian comparables on quality — and where the export premium is being captured today.
A long-form argument for why presence still beats research in markets where information is relational, not informational.
Cement, steel rebar and finishings — how the supply landscape has shifted and what that means for project budgets in 2026.
The case for refrigerated warehousing as a discrete infrastructure investment, with anchor demand from agro-processors.
Practical structures for short-duration trade finance when the working currency is not your reporting currency.
A reflection on patience, cycles and why the firm carries the name it does.
The Quarterly
Our quarterly briefing is sent — by request only — to a small circle of clients, partners and friends of the house. To be considered, please write to us.
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