It was this day in 1972 that Ceylon became the Socialist Republic of Sri Lanka. Sri Lanka’s documented history spans 3,000 years, with prehistoric human settlements dating back at least 125,000 years.
Nearer to today and rather more pertinently, the Sri Lanka Rupee is trading at 186 to USD less than 5% weaker than where it stood a year ago, so an example of how not all emerging markets have suffered versus USD.
Airlines and their Market Capitalisation
The five largest in the World are in $ Billions as follows: SouthWest 14 Delta 12 United 6 IAG 4 Lufthansa 4 or $40 Billion in total. Following Lockdown they are eclipsed by….Zoom now worth $48 Billion. Brave investors would buy airline stocks soon, as when a solution to international air travel restrictions is found, valuations of those larger airlines will snap back harder and faster than many other sectors.
Keen to throw off its image of a technocrat-heavy and slightly antiseptic business centre, Singapore has prosecuted Lee Chee-kin aged 39 for breaking lockdown and not wearing a mask and oh yes stealing lingerie.
By no means a novice at this game, Lee has stolen smalls no less than 30 times in the past two years and just a year ago was found with more than 100 bras at home. This time he was spotted without a face mask and nabbed as he scaled a wall to steal from a washing line and add to his collection of ladies’ kit. Singapore Dollar impervious at 1.42 to USD. No reports yet on impact on price of underwear in the Lion City.
Had he not headed to the great recording studio in the sky in October 2018, Charles Aznavour would have been 96 today. He wrote 1200 songs and perhaps his best Hier Encore or Yesterday When I Was Young was also released in English and goes as follows:
Yesterday when I was young / The taste of life was sweet as rain upon my tongue,”
“There are so many songs in me that won’t be sung … The time has come for me to pay for yesterday / When I was young .”
Have a sunny and healthy weekend wherever you are!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Too soon to call USD lower Those following the US Dollar’s performance in the markets would have noted a recent downturn accelerating as this week has progressed. There have been two factors driving this sell-off but it is far from certain that either may endure long enough to push the Dollar index back to its […]
Milan, Italy The City of Milan has a late night noise problem and so it has acted unilaterally to resolve it-Italian style. A ban on the sale of take away food including ice cream and pizza after midnight is being imposed to protect the “peace and health of residents.” Here in the UK late night […]
Coal tinted spectacles If you had to boil down the global economy into one category from the options of bad/fair/good, what would you choose? We all experience the economy vastly differently down to an infinite number of variables. But by and large the current phase we are in, characterised by strong global growth rates, record […]