Daily Brief – Balkans integrated power network

Balkans integrated power network

That’s the beauty of the Balkans when it comes to their individual power networks: each country is connected to the others which allows them to manage surplus electricity. So far so good. On Friday all those countries found out what happens when there is a surge in demand caused by 40c+ temperatures: a share in the power deficit and power cuts in Albania, large parts of Croatia, Montenegro and Bosnia. 

GBP/USD 1.2645

Red Sea

If like me you have been wondering why we have not heard much in the way of news about Houthi attacks on commercial shipping in the Red Sea in recent weeks, the answer is the presence of the vast US aircraft carrier the Dwight D. Eisenhower with all its aerial and on board firepower which has successfully kept a lid on things. Last week the carrier was sent home to the USA as things were too quiet to justify its continued costly presence. Yesterday the Houthis were back with a drone attack on a Liberian freighter en route to Qingdao China.

USD/JPY 159.79

France Election

One question puzzling analysts is how has Marine LePen has detoxified her own and her party’s image so successfully -so far. The answer is that in addition to capturing the anti crime moral high ground on law and order , she has a single simple message: her party National Rally or RN will put more money in peoples’ pockets. Needless to say the RN is resonating most in low income low education areas with the fewest number of immigrants.

EUR/USD 1.0695

London Rental Market

If the market is not hard enough as a tenant given the paucity of decent property on offer, there is a new challenge for landlords who are being targeted by criminals. The scam is to find a landlord who is working overseas with a good sized house. Then the gangs turn the property into a cannabis farm by dumping tons of earth and installing powerful full time lighting. One recent case involved a property where the rent had not been paid and was found to contain 10 tons of earth and a lush cannabis crop…together with an eye watering electricity bill. 

GBP/EUR 1.1823

Take a Chance on Me

This day in 1978 Abba was once again in the Top Ten with their 11^th Hit Take a Chance on Me. They were in good company with Andy Gibb, Olivia Newton John and John Travolta, Carly Simon and Gerry Rafferty.

If you change your mind, I’m the first in line
Honey, I’m still free
Take a chance on me
If you need me, let me know, gonna be around
If you’ve got no place to go, if you’re feeling down
If you’re all alone when the pretty birds have flown
Honey, I’m still free
Take a chance on me
Gonna do my very best and it ain’t no lie
If you put me to the test, if you let me try

Take a chance on me
(That’s all I ask of you, honey)
Take a chance on me

We can go dancing, we can go walking, as long as we’re together
Listen to some music, maybe just talking, get to know you better
‘Cause you know I’ve got
So much that I wanna do, when I dream I’m alone with you
It’s magic
You want me to leave it there, afraid of a love affair
But I think you know
That I can’t let go

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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