23rd July 2017
Authorised N.S.E Data Vendor
  home | rich profile | rich freebies | rich tools | rich data | online shop | my account | register |
  rich wrap-ups | **richLIVE** | richPodcasts | richRadio | richTV  | richInterviews  | richCNBC  | 
Satchu's Rich Wrap-Up
 
 
Friday 21st of July 2017
 
Morning
Africa

Register and its all Free.

If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox
as your Browser.
0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.

The Latest Daily PodCast can be found here on the Front Page of the site

http://www.rich.co.ke

read more








17-JUL-2017 Here comes Ma Yun aka Jack Ma founder of Alibaba and Tai Chi Master
Africa


My Dollar's worth is this. Jack, Africa is just as blank as a canvas
as the Internet was the day you typed in ''beer''  [by the way, the
first thing that most people do when they access the internet is type
in their name]. Africa is at a similar inflexion point.  Come and
Paint big! For centuries, everyone has looked at Africa for what can
be dug out of the ground but the real economic value is in the human
capital that walks on the ground. Alibaba was all about unleashing
e-commerce amongst as many People as possible. Come unleash our most
valuable resource our human capital. Finally Africa is even younger
than the average age of your Employees.

Just imagine if Jack can ''open sesame'' and Alibaba Kenya and Africa!
If anyone can, You Jack Ma can.

Welcome to Nairobi Jack.

read more








Interview with Carole Kariuki CEO @KEPSA_KENYA @YouTube
Africa


What an event! Many inspirational & educational words from Jack Ma
@alykhansatchu #jackmainkenya Walter Ruigu (任华德)‏ @wruigu

https://twitter.com/wruigu/status/888064008867246085

read more


Euro at $1.16, highest in 2 years. To paraphrase Draghi, the repricing of the exchange rate might be about to receive a bit more attention @ReutersJamie 1.1647 Last
Africa


Euro +11% vs $ year-to-date
- $ down 5 months in a row for first time in 6+ years
- $ down 8% this year, on for worst year in a decade

read more



Crisis demands action and if there's one market best designed for the need for speed, it's currencies hands-down.
Africa


Politics is everyone’s business. But if you have to trade in response
to it, there’s only one vehicle that’s truly suited to the exercise.
It’s the foreign-exchange market. And that’s true whatever your
investing expertise.

For speculators, hedgers and every other class of market participant,
when they see turmoil, they immediately think foreign exchange. It’s
the most obvious and sensible vehicle to use to navigate uncertain
events with unknowable time frames (see the U.S. dollar’s move
Thursday on headlines tied to President Donald Trump). It’s why, with
a soupcon of truth, it’s a market staffed by traders often
characterized as cowboys who love a good shoot-out.

What is it about foreign exchange that makes it so uniquely suited to
be the go to avenue for dealing with political events and crises?
Twenty-four hour a day access, lots of liquidity and narrow spreads,
anonymity, offshore dealing and booking to avoid onshore capital
constraints and a country specific instrument to address country-wide
issues. It’s as if someone said political crisis and the response was,
let’s invent the perfect way to deal with it.

In many political crisis situations, it becomes virtually impossible
to trade the complete lineup of assets to which you might be exposed.
If a country closes down its exchanges you are simply out of luck. It
can also happen when, as with the Asian financial crisis, the
interbank credit mechanism simply freezes up, leaving few alternatives
to trade other than using the currencies.

Political train wrecks don’t always stick to a schedule. Which doesn’t
help you manage your risks around them. Sometimes, you just have to
take action, even if it’s via an imperfect hedge. And the currency
market accommodates not only by operating 24 hours a day but by also
offering a nearly full suite of global products regardless of where
you shop. No one need worry about it being the middle of the night or
that local exchanges are closed when the tanks start rolling through
the streets. And guess which market is the first to open while it’s
still very much Sunday in North America and Europe?

Political train wrecks don’t always stick to a schedule. Which doesn’t
help you manage your risks around them. Sometimes, you just have to
take action, even if it’s via an imperfect hedge. And the currency
market accommodates not only by operating 24 hours a day but by also
offering a nearly full suite of global products regardless of where
you shop. No one need worry about it being the middle of the night or
that local exchanges are closed when the tanks start rolling through
the streets. And guess which market is the first to open while it’s
still very much Sunday in North America and Europe?

Conclusions

read more









In Surrealist Twist, Salvador Dali Exhumed in Paternity Lawsuit @luxury
Africa


Figueres, Spain (AP) -- Salvador Dali's eccentric artistic and
personal history has taken yet another bizarre turn with the
exhumation of his embalmed remains in order to find genetic samples
that could settle whether one of the founding figures of surrealism
fathered a girl decades ago.

Pilar Abel, a 61-year-old tarot card reader, claims her mother had an
affair with Dali while working as a domestic helper in the
northeastern Spanish town of Figueres, where the artist was born and
later returned with his Russian wife Gala.

Catalonia's High Court said late Thursday that biological samples were
found 27 years after Dali's body was embalmed and interred in a museum
dedicated to the painter*s memory also in Figueres. The samples need
to travel to a legal medicine lab in Madrid for analysis, which could
take weeks, officials said.

The sensitive exhumation by a team of forensic experts followed two
decades of court battles by Abel. In June, a Madrid judge finally
ruled that a DNA test should be performed to find out whether her
allegations were true.

read more



Trump team seeks to control, block Mueller's Russia investigation WAPO
Law & Politics


Some of President Trump’s lawyers are exploring ways to limit or
undercut special counsel Robert S. Mueller III’s Russia investigation,
building a case against what they allege are his conflicts of interest
and discussing the president’s authority to grant pardons, according
to people familiar with the effort.

Trump has asked his advisers about his power to pardon aides, family
members and even himself in connection with the probe, according to
one of those people. A second person said Trump’s lawyers have been
discussing the president’s pardoning powers among themselves.

Trump’s legal team declined to comment on the issue. But one adviser
said the president has simply expressed a curiosity in understanding
the reach of his pardoning authority, as well as the limits of
Mueller’s investigation.

“This is not in the context of, ‘I can’t wait to pardon myself,’ ” a
close adviser said.

The president is also irritated by the notion that Mueller’s probe
could reach into his and his family’s finances, advisers said.

The president has long called the FBI investigation into his
campaign’s possible coordination with the Russians a “witch hunt.” But
now, Trump is coming face-to-face with a powerful investigative team
that is able to study evidence of any crime it encounters in the probe
— including tax fraud, lying to federal agents and interference in the
investigation.

“This is Ken Starr times 1,000,” said one lawyer involved in the case,
referring to the independent counsel who oversaw an investigation that
eventually led to House impeachment proceedings against President Bill
Clinton. “Of course, it’s going to go into his finances.”

Trump also took public aim on Wednesday at Attorney General Jeff
Sessions and Rosenstein, whose actions led to Mueller’s appointment.
In an interview with the New York Times Wednesday, the president said
he never would have nominated Sessions if he knew he was going to
recuse himself from the case.

Some Republicans in frequent touch with the White House said they
viewed the president’s decision to publicly air his disappointment
with Sessions as a warning sign that the attorney general’s days were
numbered. Several senior aides were described as “stunned” when
Sessions announced Thursday morning he would stay on at the Justice
Department.

Another Republican in touch with the administration described the
public steps as part of a broader effort aimed at “laying the
groundwork to fire” Mueller.

“Who attacks their entire Justice Department?” this person said. “It’s insane.”

The power to pardon is granted to the president in Article II, Section
2, of the Constitution, which gives the commander in chief the power
to “grant Reprieves and Pardons for Offences against the United
States, except in Cases of Impeachment.” That means pardon authority
extends to federal criminal prosecution but not to state level or
impeachment inquiries.

No president has sought to pardon himself, so no courts have reviewed it

read more



22-MAY-2017 :: Apocalypse Trump @TheStarKenya
Law & Politics


President Trump could not leave Washington fast enough.  is follows
hot on the heels of the appointment of former FBI director Robert
Mueller as special counsel in the investigation into Russia’s
interference in the US elections.

read more


22-MAY-2017 :: Investors need to consider whether the current political trajectory is heading to a denouement.
Africa


One House Republican said: “If what the [New York Times] reported is
true, [ Vice President Mike] Pence is probably rehearsing.”

read more



Mr bin Nayef reportedly remains under house arrest to keep him out of circulation following his overthrow, with no visitors allowed except close family members.
Law & Politics



He is not taking calls, a source close to the former crown prince
said. In the past week he was only granted permission to visit his
elderly mother with the new guards assigned to him.

"The king came to meet Mohammed bin Nayef and they were alone in the
room. He told him: 'I want you to step down, you didn't listen to the
advice to get treatment for your addiction which dangerously affects
your decisions'," a source close to the royal told the Reuters news
agency.

A letter read out over the phone to the House of Saud's Allegiance
Council after his dismissal reportedly said: "Because of this
dangerous situation we see that he should be relieved of his position
and that Mohammed bin Salman be appointed in his place.”

read more


Hedge Fund Uses Algae to Reap 21% Return
International Trade


Hedge fund manager Desmond Lun’s 21 percent average return over the
last four years springs from an unlikely source -- a petri dish of
algae.

Lun, 37, is a new kind of quant, combining AI wizardry with old-school
biology to trade futures. Although his Taaffeite Capital Management is
small, Lun makes a big claim: His research into one of the natural
world’s most byzantine systems -- the biological cell -- has given him
an edge in untangling the secrets of financial markets.

Computational biologists like Lun are late to the quant wave that’s
upending hedge funds. Physicists and mathematicians were the first
disruptors, who found that their statistical models, neural networks
and machine-learning tools have had as many stumbles as triumphs. Now
comes Lun, with artificial intelligence derived from algorithms he
developed to figure out the mysteries of cells. The idea sounds more
like a lofty dissertation topic than an investment strategy, except
for one thing: Lun’s AI is beating the market.

Lun, who has a Ph.D. from the Massachusetts Institute of Technology,
spent a decade developing models that decipher how genes interact and
influence each other -- and published 18 academic papers related to
predicting cellular behavior. Turns out, he says, that his models,
tweaked for financial markets, are pretty good at figuring out how
traded instruments like stocks and commodities interact and influence
prices.

“Causal interactions are important for both biological and financial
systems, it’s what makes them complex,” said Lun, a tenured professor
at Rutgers University in New Jersey. “If you have a causal
relationship, you can make predictions and be somewhat confident in
them.”

Lun’s machine-learning system hunts for what’s pushing prices of
global indexes up or down. It examines tens of thousands of prices
(called nodes in quant-speak) from thousands of securities,
commodities and indexes. That means the algorithms potentially
consider billions of interactions between pairs of nodes before making
wagers. Two of its biggest bets as of June 30: long the FTSE 100 Index
and short the MSCI Emerging Markets Index.

The computer scrutinizes so many variables that even Lun doesn’t
entirely understand how it makes calls. But no matter. The returns at
his $20 million firm have blown by the S&P 500 Index since 2014 while
the average hedge fund has lagged far behind the benchmark, according
to an investor report seen by Bloomberg News.

Read more on hedge funds and a type of AI called deep learning

“It’s not a black box. It’s not that you stick stuff in and have no
idea what will come out, we do have parameters,” said Lun, whose
computer holds trades for an average of six days. “But on any given
day, I can’t explain all the factors that led to the system reaching
that decision.”

read more




Currency Markets at a Glance WSJ
World Currencies


Euro 1.1642 euro surged 1 percent on Thursday to a 23-month high
Dollar Index 94.10
Japan Yen 111.71
Swiss Franc 0.9508
Pound 1.3006
Aussie 0.7924
India Rupee 64.345
South Korea Won 1118.48
Brazil Real 3.1212
Egypt Pound 17.8675
South Africa Rand 12.9720

read more





Commodity Markets at a Glance WSJ
Commodities


U.S. crude #oil futures settle at $46.92/bbl. ⬇$0.40. -0.86%.
@Lee_Saks  47.12

https://twitter.com/Lee_Saks/status/888108733582024705

read more


Gold 6 month INO 1247.11
Commodities


Emerging Markets

Frontier Markets

read more


Congo's Kabila and family worth millions, new report says
Africa


Congo President Joseph Kabila and his family own stakes in more than
80 companies at home and abroad that are likely worth 10s of millions
of dollars, a report by a U.S.-based body said on Thursday.

The report by the Congo Research Group at New York University is based
almost entirely on public records like land titles and incorporation
documents. It is the most comprehensive mapping to date of Kabila and
his family's fortune after two decades in charge of Africa's top
copper producer.

read more


Angolan president returns from second trip to Spain, condition unclear
Africa


Angolan President Jose Eduardo dos Santos has returned from Barcelona
after a "private visit" that came a month after the 74-year-old leader
spent several weeks in the Spanish city receiving medical treatment.

Dos Santos, Africa's second-longest ruler, arrived in Luanda late on
Wednesday after leaving for Spain on July 3, authorities said, without
giving details of his trip or his condition.

It was his second visit to Spain in the last three months.

Foreign minister Georges Chikoti confirmed on May 29, during dos
Santos's previous visit to Spain, that he had gone there for medical
reasons.

read more




S.Africa's central bank cuts repo rate, denies political pressure
Africa


The 25 basis points cut to 6.75 percent was the first reduction in
lending rates since July 2012 and ran counter to market consensus that
it would keep them steady.

The rand fell nearly one percent after the decision, while government
bonds firmed more than 10 basis points.

read more


The rand weakened 0.9 percent to 13.0304 per dollar by 3:52 p.m. in Johannesburg on Thursday.
Africa


Yields on rand-denominated government bonds due December 2026 fell 8
basis point to 8.56 percent, the lowest since June 26. The currency is
vulnerable to political uncertainty and possible further credit-rating
downgrades, Kganyago said.

“They can probably cut another two to three times through the second
half of next year, assuming the rand doesn’t blow out,” Rian le Roux,
chief economist at Old Mutual Investment Group in Cape Town, said by
phone. “If the rand is strong and inflation falls further, don’t rule
out another cut before the end of the year.”

read more




15-MAY-2017 :: Africa Plays Catch Up. @TheStarKenya
Africa



The rest of Africa had badly lagged this global rally. Here in
Nairobi, the All Share crashed -10.11% from the start of the year
through March 8. The Nairobi NSE20 slumped -12.467% through January 30
when it closed at a multi- year low. Everyone I spoke to was ready to
throw in the towel. Over on the West side, Nigeria’s All Share was
-8.53% through March 6 of this year. Ghana has been a stand-out this
year, but overall the sub-Saharan Africa’s markets started the year
seriously in the doldrums.

Well, we have seen quite a meaningful rebound of late.

read more



The Charts Showing Why Ghana Central Bank May Cut Interest Rates
Africa


Ghana’s central bank may cut its key interest rate for a third
straight meeting with inflation at its slowest in four years and a
strengthening currency.

Consumer-price growth has tumbled 7.1 percentage points since reaching
an all-time high of 19.2 percent in March last year. While the cedi
weakened to a record low against the dollar on March 2, it has
strengthened 8 percent since then. The median of seven economists’
estimates is for a 100 basis-point cut in the key rate to 21.5 percent
on Monday.

read more



#Tanzania tells foreign @AcaciaMining staff to leave @ReutersAfrica
Africa


LONDON (Reuters) - Tanzania has asked foreign employees of
London-listed Acacia Mining to leave the country in an escalation of a
dispute that began in 2016 over allegations of tax evasion, a company
spokesperson said on Friday.

Two senior local staff of the mining firm, Tanzania's largest foreign
investor, were detained and interrogated at an airport this week, the
spokesperson confirmed. A source with direct knowledge of the matter
said the arrests were related to the dispute.

read more


11-JUL-2017 :: Opportunity knocks for Kenya's Mining sector. @TheStarKenya
Africa


Recent events in both Tanzania and South Africa’s Mining sectors are
tipping both jurisdictions into an ‘’uninvestable’’ and ‘’Twilight’’
zone.

read more







Ethnic Contest and Electoral Violence in Northern Kenya ICG
Kenyan Economy


The two northern counties of Isiolo and Marsabit are among the most
conflict-prone in Kenya. The region is mainly semi-arid, and most
residents are pastoralist nomads who often clash over access to scarce
pasture and water. A new devolved system of government has intensified
local political competition in the two counties, especially for the
powerful elected governor positions. This means general elections in
August could trigger intercommunal fighting. There is still time,
however, to encourage a peaceful vote.

read more


Kenya Shilling versus The Dollar Live ForexPros
Kenyan Economy


Nairobi All Share Bloomberg +15.73% 2017

http://www.BLOOMBERG.COM/quote/NSEASI:IND

154.31 +0.12 +0.08%

Nairobi ^NSE20 Bloomberg +15.60% 2017 [12 month highs]

http://j.mp/ajuMHJ

3,683.24 +8.28 +0.23%

read more


British American Tobacco Kenya Ltd.reports H1 EPS -9.311% Earnings here
Kenyan Economy


Par Value:                  10/-
Closing Price:           786.00
Total Shares Issued:          100000000.00
Market Capitalization:        78,600,000,000
EPS:             42.34
PE:                 18.564

British American Tobacco Kenya PLC H1 2017 results through 30th June
2017 vs. 30th June 2016
H1 Gross revenue 17.142b vs. 18.968b -9.627%
H1 Excise duty and VAT [8.004b] vs. [8.574b] -6.648%
H1 Net revenue 9.138b vs. 10.394b -12.084%
H1 Operating profit 3.003b vs. 3.138b -4.302%
H1 Finance costs [210m] vs. [70m] +200.000%
H1 Profit before tax 2.793b vs. 3.068b -8.963%
H1 Profit after tax 1.948b vs. 2.148b -9.311%
H1 Interim dividend 350m vs. 350m –
Basic and diluted EPS 19.48 vs. 21.48 -9.311%
Cash and cash equivalents at the end of the period [5.109b] vs.
[3.735m] -36.787%
Shareholders’ funds 6.795b vs. 6.401b +6.155%

Commentary


Gross Revenue reduced by 10% to 17.1b driven by lower domestic volumes
following excise-led price increases, lower cut rag sales offset by
higher export sales and contract manufacturing revenues.
Operating margin improved by 2.7% to 32.9%
Interim dividend 3.50 a share

Conclusions


Solid results with a more than 99% dividend pay out Policy.

read more




 
 
by Aly Khan Satchu (www.rich.co.ke)
 
 
Login / Register
 

 
 
Forgot your password? Register Now
 
 
July 2017
 
 
 
 
 
COMMENTS

 
In order to post a comment we require you to be logged in after registering with us and create an online profile.