Comments from the President
- We will follow the recovery of markets and do not rule out keeping the existing curbs in the market
Russia test-fired a Sineva intercontinental missile from a submerged submarine in the Barents Sea on Wednesday as part of a check on the reliability of the navy’s strategic forces, the Defense Ministry said.
The liquid-fueled missile, which can carry nuclear warheads, was fired from the Tula submarine to the Kura Test Range in the far eastern region of Kamchatka, the state-run RIA news agency quoted the ministry as saying. It gave no other details.
The Sineva, which has a range of about 12,000 km (7,500 miles), entered service in 2007 and is part of efforts to prevent the weakening of Russia’s nuclear deterrent.
President Vladimir Putin has underlined the importance of the nuclear deterrent during the standoff with the West over the crisis in Ukraine, and Russia has held several military exercises during the crisis that have alarmed Western powers.
Below we highlight the year-to-date percentage change (local currency) for the major equity indices of 82 countries. So far this year, 71 of the 82 countries are in positive territory, and the average change of all countries is 33.27%. With a gain of 20.76%, the S&P 500 is 13 percentage points below the average, yet it’s the second best G-7 performer behind Canada so far in 2009.
The BRIC countries (Brazil, Russia, India, China) have been standouts this year. Russia is up the most out of all countries with a gain of 126.71%. Brazil, China, and India are all up more than 70%. Along with Russia, the Ukraine, Argentina, and Peru are up more than 100% year to date.
Eleven countries are down so far in 2009. Ghana is down the most at -48.26%, followed by Puerto Rico (-40.56%), Bermuda (-38.36%), and Costa Rica (-35.37%).
Whilst we wait for the outcome of the current round of Cypriot negotiations, let’s have a jolly song to cheer things up. With no apologies whatsoever to Andy Stewart, TMM give you their version of the Scottish classic “Donald Where’s your Troosers”
“Draghi Where’s Your Euros”
I’m back for a while from the Cyprus Isle
Where if you want your cash you’ll need some guile
And all the locals shout with bile,
“Draghi, Where’s your Euros?”
Let the debt blow high and the growth blow low
We’ll levy a tax on your depo
Russia won’t pay so the the Cyp’s all go,
“Draghi, Where’s your Euros?”
I sat in on a conference call
There was slippery talk between them all
And I was afeared that Europe would fall
‘Cause they wouldn’t give them Euros (more…)