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Wednesday 26th of August 2020
 





First sunrise at Belgrano Base since April! southernmost station on rock; end of the long polar night at latitude 77°52′South; pic José Damián Ojeda @AntarcticReport
Misc.



First sunrise at Belgrano Base since April! southernmost station on rock; end of the long polar night at latitude 77°52′South; ice-covered Vahsel Bay below #Antarctica  @SMN_Argentina  pic José Damián Ojeda

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02-JUN-2020 :: Fast Forward
World Of Finance


Paul Virilo said ‘’Images contaminate us like a Virus’’


I would argue that Civil unrest levels are now globally at unprecedented levels that COVID19 was a circuit breaker and that ‘’Risk’’ is now blinking amber and that there remains a remarkable complacency around this risk which Paul Virilio described thus

Paul Virilio pronounced in his book Speed and Politics


“The revolutionary contingent attains its ideal form not in the place of production, but in the street, where for a moment it stops being a cog in the technical machine and itself becomes a motor (machine of attack), in other words, a producer of speed.’’

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"Belarus has woken up. We are not the opposition any more. We are the majority now. The peaceful revolution is taking place. The revolution in Belarus is not a geopolitical revolution"
Law & Politics

Sviatlana Tsikhanouskaya addressed the Foreign Affairs Committee of European Parliament: "Belarus has woken up. We are not the opposition any more. We are the majority now. The peaceful revolution is taking place. The revolution in Belarus is not a geopolitical revolution"

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Mexico confirms currently 5,500 cases per day (black line. But testing is very inadequate, the positive rate of Mexico is 57%. @MaxCRoser
Misc.

So how many cases does Mexico actually have every day? Different models suggest more than 130,000.

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They fancied themselves free, wrote Camus, ―and no one will ever be free so long as there are pestilences. #COVID19
Misc.

―In this respect, our townsfolk were like everybody else, wrapped up in themselves; in other words, they were humanists: they disbelieved in pestilences.

A pestilence isn't a thing made to man's measure; therefore we tell ourselves that pestilence is a mere bogy of the mind, a bad dream that will pass away.

But it doesn't always pass away and, from one bad dream to another, it is men who pass away

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As Covid-19 Clobbers Tourism, Millions Lose a Lifeline
Tourism, Travel & Transport


“In Cancún there is no economic activity other than tourism,” said Mr. González. “For many, it’s like the end of the world.”

The global tourism downturn that has accompanied the Covid-19 pandemic hit airlines and hotel chains and hurt hospitality workers around the world. 

But it is being felt most acutely in the world’s less-developed nations, such as Mexico, where tourism is an important driver of economic development.

From Rio de Janeiro to Venice to the Maldives, the global tourism industry is expected to lose more than 100 million jobs, or about one in three tourism jobs world-wide, according to estimates from the trade group World Travel & Tourism Council, or WTTC.

Latin America and the Caribbean are among the regions most dependent on tourism. Small islands are particularly vulnerable. 

For Aruba, tourism represents nearly 85% of economic output, according to estimates from the Inter-American Development Bank. 

For the Maldives in South Asia it is more than 66%. The Bahamas ranks fifth world-wide at more than 59%, IDB’s data shows.


Destinations that rely heavily on cruise ships, like Nassau in the Bahamas or Cozumel in Mexico, also are in dire shape. 

Most of their regular customers are Americans, and cruise lines have suspended operations from U.S. ports until November.

Many tourism-dependent countries tend not to be diversified and import everything from food to manufactured goods. 

With their large pools of unskilled workers, these countries have few hard-currency cushions besides tourism and remittances, says Henry Mooney, an IDB economist.

“Instead of oil, these countries sell sun and sand,” Mr. Mooney said.

Tourism has fewer monopolies and tends to foster entrepreneurship and social mobility, generating jobs for everyone from cabbies to housekeepers to tour guides and inn owners, economists say.


Over the past two decades, hundreds of millions of people reached the middle class in places like India and China and began traveling abroad. 

Tourism has grown so fast in the past two decades that one in five global jobs created during that time were in the industry, according to the WTTC.


“Like cellphones in the 90s, it used to be very expensive to go on vacation abroad,” said Alex Zozaya, the group’s vice chairman. “Now it’s a commodity.”

Mexico’s central bank, at the government’s direction, founded Cancún five decades ago to help diversify the country’s oil-dependent economy. 

The construction of an international airport, roads and megahotels along the string of untouched beaches helped propel the country into the world’s No. 7 tourist destination by number of visitors.

“Cancún was a paradise. There was plenty of food, turtles and lobsters. It was the Mexican version of the American dream,” said Manuel Polanco, who migrated here from a neighboring state in 1973 and spent his first night in a hammock.


He worked in a car workshop repairing alternators for trucks, then moonlighted as a cabbie, a job that eventually propelled him to become the owner of cab and intercity bus fleets and a public-transport pioneer in the region.


“Anyone who came at that time and got their act together was king,” said Mr. Polanco, who never finished elementary school but whose three children all got university degrees. “If you sold rocks, people would buy them.”

Today, tourism’s contribution to the Mexican economy surpasses 15%. About 24 million foreign tourists visited Mexico last year, spending some $21 billion, government data shows. 

The Cancún Hotel Association estimates that the Mayan Riviera, as this region is known, captures 65% of foreign-tourist activity.

The tourism boom wasn’t an unqualified blessing. Corruption flourished in the 1990s and organized crime followed. 

Five-star hotels sit a few miles from shantytowns filled with those who hope to follow Mr. Polanco’s footsteps into the middle class.


At the moment, that seems a distant prospect. Tourist arrivals to Mexico plunged 87% in June, with spending falling to $148 million from $1.7 billion a year before.

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.1817

Dollar Index 93.153

Japan Yen 106.27

Swiss Franc 0.9106

Pound 1.3153

Aussie 0.7193

India Rupee 74.38

South Korea Won 1186.86

Brazil Real 5.509

Egypt Pound 15.8896

South Africa Rand 16.868

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Somali security experts say Al-Shabaab running cannabis plantations, keeping fighters high on marijuana. @RAbdiCG
Africa

Who would have thought !

But very encouraging news, I would think. Means jihad is over. We are now in criminal territory.

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''The number of cases in the region has doubled just in the past 6 weeks"- @DrTedros at #RC70AFRO @WHO
Africa



Conclusions

The Recent SSA decline is a purely South African phenomenon. Rest of SSA is accelerating

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Rwanda, Uganda Threaten New Lockdowns As Virus Cases Surge @AFP @barronsonline
Africa

Rwanda on Sunday announced a record 200 cases in a single day, and has recorded almost a third of its 3,089 cases in the past two weeks.

Uganda on Saturday hit a record 318 cases in a day, more than half of them from a cluster in a prison in the northern Amuru district, which amounts to 13 percent of its total 2,362 cases.


As in much of the region, the death rate in both countries remains relatively low. Rwanda has recorded 12 deaths and Uganda 22.

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Kwanza hits record lows in informal market @AngolaBriefing
World Currencies

President Lourenço ‘weakened’ by daughter’s job at securities exchange

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Goldman Sachs #Nigeria's Q2 GDP numbers. central bank's FX policies will probably hold back the country's economic recovery (its analysts think the #naira needs to weaken to 500-550/USD for Nigeria to balance its current account @PaulWallace123
Africa

Goldman Sachs' take on #Nigeria's Q2 GDP numbers. It says the central bank's FX policies will probably hold back the country's economic recovery (its analysts think the #naira needs to weaken to 500-550/USD for Nigeria to balance its current account at today's #oil prices).

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Diamond Trust Bank (Kenya) Ltd.
N.S.E Equities - Finance & Investment

Par Value:                  4/-

Closing Price:           67.50

Total Shares Issued:          279602220.00

Market Capitalization:        18,873,149,850

EPS:             24.27

PE:                 2.781

DTB Half Year Results

HY Total Assets 388.254217b versus 375.929682b

HY Gross NPLs 17.542022b versus 15.119006b

HY Total Operating Income 9.294698b versus 9.187701b

HY Loan Loss 1.865552b versus 0.534192b

HY Profit before Tax 4.482839b versus 5.951347b

HY Profit after Tax 2.401697b versus 3.384030b

HY EPS 8.59 versus 13.89

  

Conclusions

The Question remains around the longevity of the Earnings suppression. 

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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August 2020
 
 
 
 
 
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