www.rich.co.ke 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 http://www.rich.co.ke/rctools/richpod.php My Weekly Piece for The Star When a Man is right he wants to get all that is coming to him for being right #Tea http://j.mp/8Zlf8Z Closing Price Data from the NSE will be here http://www.rich.co.ke/rcdata/nsestocks.php Mahmud Janmohamed's Presentation at Mindspeak http://j.mp/3kIwjf Macro Thoughts Chinese Data is buffeting the Bulls but China Data has a Track Record of turning on a Dime. Home Thoughts So yesterday armed with Chris Bishop of CNBC and his Camera Crew, we had a wander around the Nelson Mandela Square. The Place was buzzing and I took this Photo of the Nelson Mandela Statue. Nelson Mandela A Message for Africa [Celsius Please include on Email] http://twitpic.com/21fhlc Chris says Aly-Khan Look There is Sepp Blatter [He was with a Posse with of 8 Bodyguards]. I sort of brushed them off and made my presence felt as is my wont.

Indian Oil Minister Murli Deora traveled to Nigeria, Angola, Uganda,
Sudan, Saudi Arabia and Venezuela this year, leading a record number
of delegations to gain oil for the world’s third-fastest-growing major
economy.The flurry of visits is part of a new drive to find oil for
India’s 1.2 billion people after losing out to China in at least $12.5
billion of contracts in the past year. India proposed a sovereign
wealth fund to bid for reserves, told state-controlled Oil & Natural
Gas Corp. and Oil India Ltd. to make a major acquisition each this
year, and raised the amount they can spend without government approval
to 50 billion rupees ($1.1 billion).

India’s energy use may more than double by 2030 to the equivalent of
833 million metric tons of oil from 2007, while China’s demand may
rise 87 percent to 2.4 billion tons, the Paris-based International
Energy Agency said.

India faces an uneven contest to close the gap with China, which is
dipping into $2.4 trillion of foreign currency reserves to buy stakes
in oil and natural gas fields from Iraq to Uganda, compared with
India’s $250 billion in foreign exchange reserves. State-run Chinese
companies spent a record $32 billion last year acquiring energy and
resources assets overseas versus India’s single $2.1 billion
investment by ONGC. China’s June 19 decision to allow the yuan to
appreciate will further strengthen the hand of Chinese companies
buying overseas.

India’s oil import bill climbed six-fold in the past decade to $85.47
billion for the year ended March, equivalent to about 7 percent of
gross domestic product.

“India’s search for energy has to become a more intense political
game, rather than one based entirely on economics,” said Abheek Barua,
an economist at the Mumbai-based HDFC Bank Ltd. “China has virtually
already taken over Africa.”

China has promised billions of dollars in aid, investment and loans to
Africa, producer of one-eighth of the world’s crude oil, in exchange
for energy supplies.

Conclusions

This Competition for the Fuel for their Locomotives is only going to
intensify. The Interesting difference is the Statist Nature of China's
Foray and the more Entrepreneurial Nature of India's.

Euro 1.2226 Plain Optimal Sell area is 1.2380-1.2450
Sterling 1.4884 weaker
Higher Beta
Aussie 0.8330
Rand 7.6992
South Korean Won 1227

Conclusions

I continue to look for the Euro to move lower to 1.1760 and then
below, after this Congestion Phase.

Dow Slides 10% in Volatile Second Quarter. With the Dow Jones
Industrial Average closing out the quarter at a new low for the year,
the turn of events marks a sharp reversal in the "risk" rally that
began last March.

Spain’s top credit ranking was placed on review for a possible
downgrade by Moody’s Investors Service as the country prepares to sell
as much 3.5 billion euros ($4.3 billion) of five-year notes today.

“Deteriorating” growth prospects and challenges in meeting fiscal
targets mean Spain’s Aaa classification may be lowered by as much as
two grades, Moody’s analysts including Senior Vice President Kristin
Lindow in New York said yesterday in a statement. The review will be
concluded within a three- month period, the ratings company said.

The extra yield demanded on Spanish debt rather than German
equivalents fell to 198.4 basis points yesterday from 204.9 basis
points. That compares with a euro-era high of 221 basis points on June
16.

Conclusions

“The general consensus is that it’s a bit overdue. It’s late, it’s old
news,” said Ian Lyngen, a government bond strategist at CRT Capital
Group LLC in Stamford, Connecticut.

Rising gold on a rising dollar tells us that there is something bigger
than currency movements drawing investors to this traditional
safe-haven asset. Indeed, pricing the yellow metal in almost any other
major currency shows a long-term bull market still in progress. And
that is where investors can hide at least a portion of their
portfolios.

Since bottoming in April 2001, gold has quintupled. In late 2009,
after more than a year of choppy trading, the market broke out to the
upside and I put a conservative $1,400 initial price target on it at
that time. That target remains to be achieved so for starters there is
more upside potential.

1400 objective.

Crude for August delivery declined 31 cents, or 0.4%, to $75.63 a
barrel on the New York Mercantile Exchange.Oil lost 9.3% on the
quarter, breaking a winning run of five consecutive quarterly gains.
Oil lost more than 55% on the fourth quarter of 2008.
Oil has gained 2.7% so far this month, following losses of 14% in May
and gains of 2.8% in April.

Sugar has bottomed out.

China’s manufacturing growth slowed more than economists forecast in
June, adding to signs that the world’s fastest-growing major economy
is cooling.The government’s Purchasing Managers’ Index declined for a
second month, falling to 52.1 from 53.9 in May. The median forecast in
a Bloomberg News survey of 12 economists was 53.2. An HSBC Holdings
Plc manufacturing index slid to a 14-month low.

“It’s just a slowdown not a meltdown,” said Qu Hongbin, a Hong
Kong-based economist at HSBC. Today’s numbers are “more evidence of a
slowing Chinese economy from a cyclical peak in the first quarter,” Qu
said.

Conclusions

China Data is notoriously volatile but the slew of recent News has
unnerved Markets.

Index Value:    2,373.79
Trade Time:    3:00AM EDT
Change:    24.58 (1.02%)
Prev Close:    2,398.37
Open:    2,393.95
Day's Range:    2,371.78 - 2,410.77
52wk Range:    2,425.93 - 3,478.01

Conclusions

New Year Lows.

The East African Community on Wednesday took a giant leap as member
states simultaneously launched the Common Market Protocol. The
protocol, which was signed on November 20, last year, allows free
movement of goods, services, capital and labour in the bloc. It comes
into effect at midnight.Setting off the common market, President
Kibaki on Wednesday evening ordered the waiver of work permit fees for
all East Africans coming to Kenya.

“I am directing the Minister responsible for Immigration to waive fees
on work permits for all East African citizens,” the President said.

He also directed Attorney-General Amos Wako to use Parliament to
harmonise conflicting laws with EAC countries for the smooth
implementation of the protocol.

Conclusions

Kenya rides on the coattails of the Region and this will usher in real
Momentum throughout the region and it will gain Traction.

Here are some facts about the EAC bloc:

The EAC was first set up in 1967 but collapsed a decade later because
of political and economic disagreements between original member states
Kenya, Uganda and Tanzania.

* EAC has a population of 126 million people and a GDP of $75 billion.
* The ultimate goal of the bloc is to have a common currency in 2012
and turn into a political federation in 2015.
* Member states will have to make several changes to their national
laws to allow full implementation of the common market in areas such
as immigration, labour and customs.
* Only Rwanda and Kenya have a bilateral agreement allowing their
citizens to work in any of the two countries without a work permit.
Similar agreements are required among all members. (Compiled by Duncan
Miriri; Editing by Giles Elgood)

Africa has $1.7 trillion of potential wealth and production in areas
such as agriculture, tourism and water, a study showed on Wednesday,
pointing to new investment areas that stretch beyond commodities.The
study by investment research firms Africa Investor and The Africa
Group said the potential represented an additional market size of
$762.4 billion.

GDP in Africa, one of the fast-growing regions in the world, has been
boosted by its vast natural resource wealth in recent years and new
partnerships in other sectors could also lift growth.

A McKinsey Global Institute study says Africa's strong growth will
continue at a rapid pace and investors and businesses cannot afford to
ignore the continent's potential, which goes far beyond commodities.

"At the highest level, Africa is similar to any other private
investment ... investors must take on risk to pursue an addressable
market opportunity," The Africa Group said.

The study also estimated stocks of extractable oil, gas, coal and
uranium to be worth between $13 trillion to $14.5 trillion.

Conclusions

A Known Known but we are at a Tipping Point in terms of Perception.

The Star Is The World Cup Africa's Tipping Point
http://j.mp/94jnfx

“This book is not just about football or indeed about Africa. It tries
to capture the beauty and strength of the human spirit.”

“What football cannot survive without, is the ball,” David Goldblatt
writes in a preface to Jessica Hilltout’s book, “Amen: Grassroots
Football.”

The ball can take many forms, as The Times Magazine showed in “The
Evolution of the World Cup Ball.” As the FIFA World Cup came to Africa
for the first time, Ms. Hilltout set out across the continent to
document the diversity of form that results when soccer balls — hard
to come by in many communities — are made from scratch.

Conclusions

I arrived in Johannesburg the day before yesterday and the Vibe is
truly breathtaking. The FIFA World cup was never going to be the
preeminent example of Trickledown but it has noticeably tipped South
Africa [There is a common Identity which is disjunctive] but more
importantly it has tipped the External Conception of the Continent.
Aly-Khan Satchu
www.rich.co.ke
Jozi

This spectacular image of sunset over the Indian Ocean was taken by
astronauts aboard the International Space Station. It presents an
edge-on, or limb view, of the Earth's atmosphere as seen from orbit.
The Earth's curvature is visible along the horizon line, or limb, that
extends across the image from centre left to lower right. Above the
darkened surface of the Earth, a brilliant sequence of colours roughly
denotes several layers of the atmosphere. Deep oranges and yellows
appear in the troposphere, which extends from the Earth's surface to
6-20km high. The pink to white region above the clouds appears to be
the stratosphere and it extends up to approximately 50km above the
Earth's surface. Above the stratosphere, blue layers likely mark the
transition between the middle and upper atmosphere as it gradually
fades into the blackness of outer space


Satellite eye on Earth: June 2010 The Guardian 
http://j.mp/928GG4

The site of the 11 June opening game of the 2010 World Cup, Soccer
City, sits in Johannesburg's Soweto township. Previously named the FNB
Stadium, the facility was upgraded for the 2010 World Cup games.
Shaped roughly like a rectangle with rounded corners, the stadium has
high walls that cast long shadows toward the south-west. Capable of
seating 94,700 spectators, Soccer City is nevertheless dwarfed by
nearby slag piles left over from decades-long mining operations. The
slag heaps hold massive dumps of crushed rock discarded after gold
extraction. Gold-bearing rock layers were originally discovered in
this region in the late 19th century, and gold mining long powered
South Africa's economy. On the opposite side of the slag piles from
Soccer City is Diepkloof, and other settlements comprising Soweto

4,339.28

Conclusions

21 Month Highs.