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Wednesday 18th of February 2015
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Morning Africa |
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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 |
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Obama Drafted to Fight Bush's War Law & Politics |
I have been looking back over a few predictions about the Iraq War
from back in 2002 and 2003. Recall Dick Cheney: "Weeks rather than
months." Also "we will be greeted as liberators." Paul Wolfowitz:
"There's a lot of money to pay for this. It doesn't have to be U.S.
taxpayer money. We are dealing with a country that can really finance
its own reconstruction, and relatively soon." Wolfowitz again, since
he was to my mind the most Satanic of the bunch: "It's hard to
conceive that it would take more forces to provide stability in
post-Saddam Iraq than it would take to conduct the war itself and to
secure the surrender of Saddam's security forces and his army. Hard to
imagine."
The first: "Possibly the most dire consequences would be the effect in
the region. The shared view in the region is that Iraq is principally
an obsession of the U.S. The obsession of the region, however, is the
Israeli-Palestinian conflict. There would be an explosion of outrage
against us. We would be seen as ignoring a key interest of the Muslim
world in order to satisfy what is seen to be a narrow American
interest."
And second: "While we hoped that popular revolt or coup would topple
Saddam, neither the U.S. nor the countries of the region wished to see
the breakup of the Iraqi state. We were concerned about the long-term
balance of power at the head of the Gulf. Trying to eliminate Saddam,
extending the ground war into an occupation of Iraq, would have
violated our guidelines about not changing objectives in midstream,
engaging in mission creep, and would have incurred incalculable human
and political costs."
A jihadist organization unlike any we've seen before that was birthed
(as al-Qaeda in Iraq) in the chaos of post-invasion Iraq around the
time when the Iraqi people, we were told, were going to be tossing
rose petals at our soldiers' feet.
Pretty good, that first one. Holds up. Noam Chomsky? A Nation
editorial? Nope. Brent Scowcroft, writing in The Wall Street Journal.
The second is a bit of a giveaway, what with that first sentence, but
the mordant irony of it is still delicious: That was Scowcroft writing
with none other than George W. Bush's father.
Conclusions
Iraq became a Blind Spot and an Obsession in the Bush the second
Administration.
In fact, what has come after Saddam after Muammar has been demonstrably worse.
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Saddam Hussein's Last Words: "To the Hell that is Iraq!?" Law & Politics |
The execution fell during Eid ul-Adha, a holy day for Muslims. The
date of the execution is perhaps one of the most compromising signals
that the execution was indeed a psychological operation (PSYOP)
Background voices, which are very hard to hear, are having a
conversation in the background and someone calls someone else in the
execution chamber by "Ali" or is looking for "Ali."
Saddam Hussein: "I testify that Mohammed is the Messenger of God."
Saddam Hussein: "Oh God." [saying this in preparation, as is Middle
Eastern custom, as the noose is put around his neck]
One voice leads customary Muslim prayer (called a salvat): "May God's
blessings be upon Mohammed and his companions/household [family]."
All Voices, including Saddam Hussein, repeat the customary prayer:
"May God's blessings be upon Mohammed and his companions/household
[family]."
A group of voices: "Moqtada...Moqtada ...Moqtada." [Meaning the young
Shiite cleric Moqtada Al-Sadr] ...
Saddam with amusement: "Moqtada...Moqtada! Do you consider this
bravery?" [This can also be translated as meaning "Is this your
manhood?"]
Several individuals say several times: "To Hell [hell-fire]!" [This
can be translated as "Go to Hell!"]
Saddam Hussein mockingly replies/asks: "To the hell that is Iraq!?"
Others voices: "Long live Mohammed Baqir Al-Sadr."
Single Voice: "Please do not [stop]. The man is being executed. Please
no, please stop."
Saddam Hussein starts recitation of final Muslim prayers: "I bear
witness that there is no god but God and I testify that Mohammed is
the Messenger of God. I bear witness that there is no god but God and
I testify that Mohammed..." [Saddam Hussein is suddenly interrupted
without finishing his prayer with the opening of the trap door.]
Several Voices: "The tyrant [dictator] has collapsed!"
Other voices: "May God's blessings be upon Mohammed and his household (family)."
Single Voice: "Let him hang for eight minutes."
Many conversations continue in the background about Saddam Hussein.
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Italy Fears ISIS Invasion From Libya @BLNadeau Law & Politics |
ROME -- Last weekend in Italy, as the threat of ISIS in Libya hit home
with a new video addressed to "the nation signed with the blood of the
cross" and the warning, "we are south of Rome," Italian prime minister
Matteo Renzi shuttered up the Italian embassy in Tripoli and raised
his fist with the threat of impending military action.
In fact, Renzi didn't specify exactly who would wield that military
might, and, two days later, when no one volunteered to lead the
charge, he backtracked. "It's not the time for a military
intervention," Renzi told an Italian television station Monday night
and said the United Nations had to lead the way. "Our proposal is to
wait for the UN Security Council. The strength of the UN is decidedly
superior to that of the radical militias."
Whether the time is right or not, there is no question that there is a
palpable tension in Italy over the ISIS threat--Libya is just 109 miles
away from the island of Lampedusa and 300 miles from Sicily--made worse
by a 64 percent increase in illegal migrant arrivals by sea since last
year.
Italy has been on ISIS's radar for quite some time. In October, the
group dedicated the cover of its Dabiq magazine to a story called
"Reflections on the Final Crusade" about how they will conquer Rome,
complete with a photo of a black jihadist flag flying over St. Peter's
Square. "We will conquer your Rome, break your crosses, and enslave
your women, by the permission of Allah, the Exalted. If we do not
reach that time, then our children and grandchildren will reach it,
and they will sell your sons as slaves at the slave market," said the
article in Dabiq.
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Flock of starlings over Rome at sunset Law & Politics |
Russian President Vladimir Putin told Kiev to let its soldiers
surrender to pro-Russian rebels, who spurned a ceasefire in eastern
Ukraine and fought their way on Tuesday into the town of Debaltseve,
encircling thousands of government troops.
http://af.reuters.com/article/worldNews/idAFKBN0LK13520150217
"I hope that the responsible figures in the Ukrainian leadership will
not hinder soldiers in the Ukrainian army from putting down their
weapons," Putin said.
"If they aren't capable of taking that decision themselves and giving
that order, then (I hope) that they won't prosecute people who want to
save their lives and the lives of others."
Conclusions
Its a Put Up or Shut up Moment.
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09-FEB-2015 King Dollar World Currencies |
ON Friday, the United States released its typically market-moving
non-farm payroll numbers. After interrogating the released data, I
realised that the US posted the largest three-month payroll gain going
back to 1997.
That was plain another era in 1997 and I looked up the music from that
year to better anchor that period in my mind. I discovered that Toni
Braxton's 'Unbreak my heart', Biggy's 'Hypnotise' and Elton John's
'Candle in the wind' - in remembrance of the late Princess of Wales,
Diana Frances - were the big hits that year.
Euro versus the Dollar 3 Month Chart 1.1405
http://quotes.ino.com/charting/index.html?s=FOREX_EURUSD&v=d3&t=c&a=50&w=1
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Sudan's President claims CIA and Mossad 'stand behind' Isis and Boko Haram @Independent Africa |
Sudan's President has claimed the CIA, America's intelligence agency,
and Israel's Mossad are behind the Islamist militant groups Boko Haram
and Isis.
Omar al-Bashir used an interview with Euronews to claim there was a
connection between the American and Israeli intelligence organisations
and both extremist groups.
He spoke after Isis released a video purporting to show the beheading
of 21 Coptic Christians in Libya, an act that prompted Egypt to
respond with air strikes avenging the massacre.
Al-Bashir told the broadcaster: "I said CIA and the Mossad stand
behind these organisations; there is no Muslim who would carry out
such acts."
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Kenya Power @KenyaPower reports H1 PBT 2014 +52.9355% Earnings here Kenyan Economy |
Par Value: 20/-
Closing Price: 16.95
Total Shares Issued: 1951467045.00
Market Capitalization: 33,077,366,413
EPS: 3.31
PE: 5.121
The energy company in charge of national transmission, distribution
and retail of electricity throughout Kenya.
First Half Earnings through 31st December 2014 versus through 31st December 2013
First Half total Revenue 57.913b versus 48.586b +19.1968%
First Half Total Operating Costs 49.260b versus 41.818b +17.796%
First Half Operating Profit 8.653b versus 6.768b
First Half Profit before Tax 6.408b versus 4.190b +52.9355%
First Half Profit after Tax 4.172b versus 3.013b +38.466%
First Half Earnings Per share 2.14 versus 1.54 +38.96%
Dividend 20cents unchanged
Company Commentary
Increase in Profit ''mainly attributed to increased sales and tariff review''
Electricity Revenue grew 40%
Rise in unit purchases from 4,093 GWh to 4,320 GWh +5.5%
We are confident the Company's good performance will be sustained
"To secure revenue, we are planning to introduce smart metering
systems to enhance billing accuracy for large power customers as well
as reduce overall costs," Chumo added.
Conclusions
Strong results helped by a Tariff Increase which raised the base Unit
Price in favour of KPLC a while back.
Kenya Power has already increased the base tariff by 77% which is what
has led to the significant margin improvement.
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N.S.E Today |
The Nairobi All Share stormed 0.734% higher to close at a record High
of 174.17 and for the 8th consecutive session.
Thats a Red hot Winning Streak of the legendary kind like Sir Stephen
Runciman's Feat in Las Vegas.
The Nairobi All Share is plus an eye-popping +6.924% in 2015.
The Move higher was verified by it being a humdinger of a session
where total volume topped a billion shillings to clock 1.077b.
The Nairobi NSE20 rallied 42.32 points to close at 5446.04 which is
less 0.5% off a more than 5 year high.
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N.S.E Equities - Agricultural |
Kakuzi rallied a further +8.247% to set a Record Closing High [and for
the 3rd consecutive session] of 315.00. Kakuzi was trading at 320.00
+9.97% at the Finish. Kakuzi has now posted a blistering +75.00% Rally
in 2015.
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N.S.E Equities - Commercial & Services |
Safaricom firmed 0.67% to close at 14.95 and traded 6.539m shares
worth 97.958m. Safaricom has rallied +6.405% and is 0.333% below a
record closing High reached in August 2014. In Fact, Safaricom was
trading through its record closing High and as high as 15.10 +1.68% at
the Finish Line. Given the Buyer versus Seller Imbalance [6.5 Buyers
for every Seller], Safaricom is set to slice through 15.00 tomorrow
like a Hot knife through Butter and set a Fresh record closing High.
TPS @Serenahotels [which issued a Full Year Profits warning yesterday]
slipped a further 3.47% making that a 2 session slide of 6.08% and I
expect that to be it. The softness in the Tourism Sector is a Known
Known.
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N.S.E Equities - Finance & Investment |
Equity Group was the most actively traded share at the Exchange in
what was a busy session. Equity firmed 0.93% to close at 54.00 and
traded 4.583m shares worth 247.493m. Equity Group has rallied +8.00%
Year to Date.
CO-OP Bank [which has been on an upward trajectory of late] rallied
+2.43% to close at 21.00 and was trading at 21.50 +4.88% session highs
at the Final Tape. CO-OP Bank traded 3.003m shares.
Pan Africa Insurance released a full Year Profits Warning after the
market closed citing ''unrealised mark-to-market gains on Equity
Investments'' in 2013 which did not repeat in 2014 and much lower
profits from Property Sales.
Pan Africa Insurance issues a Full Year Profits Warning here
http://www.rich.co.ke/media/docs/Pan%20Africa%20Insurance%20Holdings%20Ltd%20-%20Profit%20Warning%20Announcement.pdf
Pan Africa Insurance traded 2,800 shares at an unchanged 118.00 but of
course, this was prior to the profits warning announcement being made
public. Pan Africa Insurance is -1.666% Year to Date.
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N.S.E Equities - Industrial & Allied |
Kenya Power reported First Half Earnings through 31st December 2014
where First Half Turnover accelerated +19.1968% and First Half Profit
before Tax surged 52.9355% to 6.408b. KPLC will pay an unchanged
20cents Interim Dividend.
"To secure revenue, we are planning to introduce smart metering
systems to enhance billing accuracy for large power customers as well
as reduce overall costs," Ben Chumo said.
These were Strong results helped by a Tariff Increase a while back
which saw KPLC ratchet its base tariff higher by 77% and this was a
key driver of the margin expansion. KPLC surged 5.9% to close at a
Fresh 2015 High of 17.95 and traded a chunky block of 3.752m shares.
KPLC has now rallied +24.22% in 2015.
KenGen by contrast ticked 0.93% easier to close at 10.60. KenGen has
lagged KPLC big time in 2015 and is +2.912% versus KPLC's +24.22% over
the same period.
EABL surged +1.488% to close at a Fresh 2015 High of 341.00 and on
heavy volume action of 593,600 shares. The share price projected as
high as 344.00 +2.38% at the Finish Line. EABL has rallied +11.688% in
2015 and the First Half Earnings will further encourage the share
price to run with the Bulls.
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