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Satchu's Rich Wrap-Up
 
 
Thursday 01st of September 2011
 
Morning
Africa

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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

President #Kagame appears on #Mindspeak show- Kigali, 18 August 2011 #YouTube
http://j.mp/qhQYcA

#Mindspeak 2011 RICH TV
http://www.rich.co.ke/rctools/richtv.php

An Interview with the Swiss President Madam Michelin Calmy-Rey
http://www.rich.co.ke/rctools/richtvi.php

An Interview with Dr. Ahmed Heikal
http://www.rich.co.ke/rctools/richtvi.php

Macro Thoughts



Home Thoughts

There is a wonderful Autobiography by Emperor Babur called Baburname.
http://en.wikipedia.org/wiki/Baburnama

The Bāburnāma begins with these plain words:[3]
“     In the province of Fergana, in the year 1494, when I was twelve
years old, I became king.     ”

After some background, Bābur describes his fluctuating fortunes as a
minor ruler in Central Asia - in which he took and lost Samarkand
twice - and his move to Kabul in 1504.

It is in fact an extraordinary Autobiography. And in it, I discovered
Babur was quite the Epicurean. He loved his Food. And his descriptions
of the Banquets and Feasts is quite a delight.

In one he describes an Idd-Ul-Fitr Lunch. The Pilau, the different
colours. Well yesterday we paid a visit to my Mum's Brother's House.
And the Pilau and the Food could have been extracted from that
Autobiography. The Kulfi was the sweetest of sweet Pink.

Babur's Tomb
http://j.mp/nKx9lE

read more


Julius Malema supporters burn a T-shirt bearing the face of South Africa's president Jacob Zuma outside the ANC headquarters Guardian
Law & Politics

Julius Malema Esquire has to be handled with Tact and Delicacy but at
some point President Zuma has to surely draw the Line.

read more


What does Gaddafi's fall mean for Africa? Aljazeera
Law & Politics

"Kampala 'mute' as Gaddafi falls," is how the opposition paper summed
up the mood of this capital the morning after. Whether they mourn or
celebrate, an unmistakable sense of trauma marks the African response
to the fall of Gaddafi.

Whereas the fall of Mubarak and Ben Ali directed our attention to
internal social forces, the fall of Gaddafi has brought a new equation
to the forefront: the connection between internal opposition and
external governments. Even if those who cheer focus on the former and
those who mourn are preoccupied with the latter, none can deny that
the change in Tripoli would have been unlikely without a confluence of
external intervention and internal revolt.

In the past decade, Western powers have created a political and legal
infrastructure for intervention in otherwise independent countries.
Key to that infrastructure are two institutions, the United Nations
Security Council and the International Criminal Court. Both work
politically, that is, selectively.

Conclusions

Interesting Piece. HE Paul Kagame was the Outlier in regard to Libya.
I recall listening to a BBC Radio Programme and hearing the President
and then tweeting him about the very fact that he was seeing things
clearly. And it is to understand why he did especially after You have
walked around the Genocide Memorial in Kigali.

read more


Ugandan police ban North Africa-solidarity rally Reuters
Law & Politics


Ugandan police on Wednesday banned an opposition rally planned to
congratulate North Africans for toppling oppressive leaders, saying it
would incite violence.Pressure group Activists 4 Change wants to hold
a rally in the capital Kampala on Friday to "celebrate people power in
North Africa" following the overthrow of the leaders of Tunisia, Libya
and Egypt.

The group has emailed invitations accompanied by a flyer featuring
photos of the toppled rulers crossed out -- with Uganda's long-serving
President Yoweri Museveni lined up as the next to go.

Uganda has been rocked by anti-governments protests since April,
provoked by anger over rising food and fuel prices.A government
crackdown to quell protests in April and May killed nine people and
injured hundreds, eliciting condemnation by local and international
rights groups.

Police spokesman Vincent Sekate said in a statement that the police
were blocking the rally because of a dispute over the premises and the
fact that it was next to a highway.

But he added: "Furthermore, the purpose of the rally is likely to
incite the public into violence."

The opposition has in the past refused to heed police warnings against
holding political rallies, accusing the security force of allowing
itself to be used by Museveni to persecute his political opponents.

Museveni has criticised what he calls Western meddling in African
affairs in reference to NATO's backing of Libyan rebels. In power
since 1986, has come under mounting international censure for his
growing authoritarianism.

Conclusions

President Yoweri #Museveni #Uganda #Mindspeak RICH TV
http://www.rich.co.ke/rctools/richtv.php

I would be keener on deploying a more nuanced Approach with these Folks.

read more



To Defeat Terrorists, Start Using the Library: Scott Helfstein Bloomberg
Misc.

The information glut that marks the 21st century is evidenced in some
unexpected places. Last month, my organization, the Combating
Terrorism Center at West Point, released a report that sharply
disputed conventional wisdom about terrorism along the
Afghanistan-Pakistani frontier.

The report argued that the Haqqani Network, a border- spanning tribal
group with deep ties to Pakistan’s government, had been more
influential than the Taliban in aiding al-Qaeda’s rise.

The revolution in information technology has opened a new vein of
intelligence collection and analysis that in many instances can prove
more useful than traditional forms of spycraft. In the world of
espionage, information and the clandestine means of gathering it are
both treasured. “Open source” intelligence, by contrast, is a
commodity with little inherent value. Instead, the capacity to
organize and analyze these public streams of information becomes a key
asset. This represents a drastic shift, with far-reaching implications
for intelligence agencies.

Conclusions

Therefore, essentially, When a State closes the Internet Down it is
admitting its Intelligence Gathering is Sub Par.

read more



THE ROVING EYE Why Gaddafi got a red card Pepe Escobar
Law & Politics

"What a fool," the Dear Leader predictably murmurs. No wonder. He
knows how The Big G virtually signed his death sentence that day in
2003 when he accepted the suggestion of his irrepressibly nasty
offspring - all infatuated with Europe - to dump his weapons of mass
destruction program and place the future of the regime in the hands of
the North Atlantic Treaty Organization (NATO).

The Sunni monarchical dictator in Bahrain stays; no "humanitarian"
bombs over Manama, no price on his head. The House of Saud club of
dictators stays; no "humanitarian" bombs over Riyadh, Dubai or Doha -
no price on their Western-loving gilded heads. Even the Syrian
dictator is getting a break - so far.

So the question, asked by many an Asia Times Online reader, is
inevitable: what was the crucial red line crossed by Gaddafi that got
him a red card?

And yes - this is above all neo-Napoleonic President Nicolas Sarkozy's
war. He's the George Clooney character in the movie (poor Clooney).
Everybody else, from David of Arabia Cameron to Nobel Peace Prize
winner and multiple war developer Barack Obama, are supporting actors.

NATO is a Western high-tech militia to defend American and European
interests, to isolate the interests of the emerging BRICS countries
and others, and to keep the "natives", be they Africans or Asians,
down. The whole lot much easier to accomplish as the scam is disguised
by R2P - "responsibility to protect", not civilians, but the
subsequent plunder.

Conclusions

The Tipping Point for the Intervention was that Public Rant about
levelling Benghazi and in that regard, Gaddafi has No One to blame but
himself.

Half sunk, a shattered visage lies
http://j.mp/raAdqo

Half sunk, a shattered visage lies, whose frown
And wrinkled lip and sneer of cold command
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them and the heart that fed.
And on the pedestal these words appear:
`My name is Ozymandias, King of Kings:
Look on my works, ye mighty, and despair!'
Nothing beside remai

read more


Currency Markets At A Glance WSJ
World Currencies


Euro 1.4365 was at 1.4442 Tuesday. [1.4550 repelled the Euro Advance again]
Swiss Franc 0.8046 Swiss franc stormed ahead by more than 2% against
the dollar and euro Gross domestic product rose 0.4 percent from the
first quarter, when it increased 0.6 percent
Yen ¥76.83
Pound 1.6231
^DXY 74.18
Aussie 1.0712 strongest level since Aug. 4 Retail sales in Australia
advanced 0.5 percent in July from June
Brazil Real 1.5889
South Africa Rand 7.0054 strongest since Aug. 8.

The Swiss government plans to spend 870 million francs ($1.1 billion)
as part of an economic stimulus package to help counter the impact of
the franc’s “massive overvaluation.”  “Today’s announcement was a
clear disappointment,” Christian Gattiker, an analyst at Julius Baer
Group Ltd (BAER), said in an interview with Bloomberg Television from
Zurich. “This is pretty lukewarm in terms of the Swiss economy.”

Conclusions

The Swiss Franc rebounds hard.

Dollar versus Swiss Franc 3m chart INO 0.8048 Last
http://j.mp/lf8BQd

Euro versus The Dollar 3m chart  INO 1.4359 Last
http://j.mp/bQ9veD

read more


World Equity Markets At A Glance WSJ
World Of Finance

DJIA    11613.53    53.58 +0.46%
Japan: Nikkei Average    9062.20    107.00 +1.19%
UK: FTSE 100     5394.53    125.87    +2.39%
Australia: S&P/ASX    4314.90    18.40    +0.43%
China: Shanghai Composite    2561.77    -5.57    -0.22%
Hong Kong: Hang Seng    20831.65    296.80    +1.45%
India: BSE Sensex*    16676.75    260.42    +1.59%
France: CAC 40    3256.76    97.02    +3.07%
Germany: DAX    5784.85    140.93    +2.50%
Brazil: Bovespa*    56495.12    1110.09    +2.00%
S. Africa: FTSE/JSE Africa All Share*    31005.50    640.37    +2.11%

The S&P 500 rose 0.5 percent to 1,218.89 at 4 p.m. in New York, after
climbing 1.5 percent earlier. The benchmark gauge surged 8.5 percent
since Aug. 19 while still completing a fourth straight monthly loss,
the longest slump since March 2008. The Dow Jones Industrial Average
added 53.58 points, or 0.5 percent, to 11,613.53 today, erasing its
year-to-date decline.

Conclusions

The Equity Rally gained some more Upside Traction. August was a cruel
month notwithstanding the Rallying Trend End Month.

^DJIA compared with the ^BVSP and the ^FTSE Yahoo Finance 1 Year comparison
http://j.mp/nKe7TG

read more


Descending into another world … David Lynch's Silencio nightclub Guardian
Misc.

There were no dwarves. No dancing men. No one talked backwards – until
the daquiries kicked in – and with the exception of the Japanese
cowboy who turned out to be a fashion designer, no one looked all that
weird.

read more



Rough diamond prices advanced 49 percent in the first half Bloomberg
Commodities


Rough diamond prices advanced 49 percent in the first half,
accelerating after two straight years of more than 30 percent growth
as stagnant production failed to meet Asian demand

read more


Kerzner Weighs Atlantis Dubai Sale
Tourism, Travel & Transport

Kerzner International Holdings Ltd., the owner of several luxury
getaways, is exploring selling its 50% stake in the Atlantis resort in
Dubai to raise money to restructure $2.6 billion in mortgage debt
coming due next week, said people familiar with the matter.The
proceeds would go toward paying down a portion of the mortgage debt on
a separate Atlantis resort in the Bahamas, Kerzner's flagship property
and one of the most popular resorts in North America, the people said.
The debt matures Sept. 9.
Kerzner is in talks to sell the stake in the Dubai Atlantis to Istithmar World

read more


Congo election may be delayed on logistics setback, costs Reuters
Law & Politics

Voting equipment for Democratic Republic of Congo's election is
stranded abroad and costs are spiralling, according to documents and
officials, threatening to delay a poll that is due at the end of
November.

Opposition politicians have already accused President Joseph Kabila of
trying to rig his re-election in the vast, mineral-rich country's
second vote since its 1998-2003 war.

With just under three months to go until the polls are due to take
place, Laurent Ndaye, a senior member of the country's independent
electoral commission (CENI), said equipment such as ballot boxes and
voting booths were not yet in the country.

"We've proceeded to order the electoral hardware, we've paid for more
than 70 percent. What's posing the problem now is to transport all
this material (to the Congo)," he said, adding that the kit was in
China, South Africa, Germany and Lebanon.

Government spokesman Lambert Mende said payments were being made on
time and funded by mining deals, without giving details.

"We have these new agreements from the Chinese and Indians, the money
(for the elections) is coming from the signature bonuses, this has
been decided by the government," he said, without giving further
details.

read more


Bank of Kigali shares rise 8 pct at debut Reuters
East Africa

Shares in Bank of Kigali, Rwanda's biggest bank by assets rose by 8
percent to 135 Rwanda francs per share at its market debut on
Thursday.A lot of 60, 000 shares was the first trade to go through
after an initial public offer of a 45 percent stake in the bank by the
government, which was met by huge investor appetite.

#Rwanda Stock Exchange #Africa visiting the CEO http://www.rich.co.ke Twitpic
http://twitpic.com/68c2ql

read more


Uganda Inflation Rate Climbs in August to Highest Since 1993 Bloomberg
East Africa

Uganda’s annual inflation rate climbed to the highest level in more
than 18 years in August as food and fuel costs climbed.Inflation
accelerated to 21.4 percent, the fastest pace of increase in prices
since February 1993, from a revised 18.8 percent in July, the Uganda
Bureau of Statistics said in a statement distributed today in Kampala,
the capital. Prices rose 2.7 percent in the month.

“The main inflation-driver remained food,” which accounts for 27
percent of the consumer price basket, it said. “Food inflation is now
42.9 percent for the year ending August 2011 from 40.7 percent for the
year ended-July 2011.”

Uganda’s central bank raised its benchmark interest rate by 1
percentage point to 14 percent on Aug. 2. Uganda’s shilling is
Africa’s worst- performing currency this year after weakening 18
percent against the dollar, according to data compiled by Bloomberg.
The currency weakened 0.5 percent to 2,823 per dollar by 1 p.m. in
Kampala.

Conclusions

“The main inflation-driver remained food,” which accounts for 27
percent of the consumer price basket, it said. “Food inflation is now
42.9 percent for the year ending August 2011 from 40.7 percent for the
year ended-July 2011.”

read more


Uganda Shilling versus The Dollar Live ForexPros 2821.55 Last
World Currencies

Close to a Record Multi Year Intra Day Low.

Tanzania Shilling versus The Dollar Live ForexPros 1619.25
http://j.mp/mN7fEz

Just Inside a Multi Year Low.

read more


Woolworths, Foschini, Truworths at Record as Citi Raises Consumer Stocks Bloomberg
Retail & Manufacturing

Woolworths Holdings Ltd., Truworths International Ltd. (TRU) and
Foschini Group Ltd. (TFG) surged to records after Citigroup Inc. named
the South African retailers top “buys” among emerging-market consumer
stocks.Woolworths rose to the strongest closing level since October
1997, gaining 3.5 percent to 36.45 rand at the 5 p.m. close in
Johannesburg, while Truworths increased for a third day, rising 1
percent to 77.55 rand. Foschini rallied 2.4 percent to 95.10 rand, the
highest since August 1990.

“Significant downgrades to GDP forecasts for 2011 and 2012 have
centered on developed economies, rather than emerging markets,” the
analysts wrote. “We would play these themes by adding weight to the
consumer discretionary sector, particularly the interest-rate
sensitive areas.”

read more


South Africa All Share Bloomberg -3.465% 2011
Africa

Value     31,005.50     
Change     640.370 (2.109%)
Open     30,365.13
High     31,047.19
Low     30,365.13

8th August 2011 was an 11 month Closing Low of 28391.00
Index has rallied 9.2071431% since 8th August

read more



Swaziland Central bank reserves had dropped to $554 million, or 2.2 months of import cover, as of August 26
World Of Finance


"Preserving the parity with the South African rand is of utmost
priority," the IMF said, adding that central bank reserves had dropped
to $554 million, or 2.2 months of import cover, as of August 26.

read more



Field of Hope Witness Aljazeera
Africa

One woman's enterprise helps DR Congo's rape survivors find healing
and an independent income through farming.

But one woman, herself a rape survivor, is helping to change some of
these lives for the better. Masika has set up a place where rape
survivors can get support, counselling and, uniquely, start to make a
living.

"We women have something precious that everybody seems to be after,"
says Masika. "Here in Congo they go into villages and loot. And after
looting, they never leave without raping. That's why I say we've
become weapons of war in Congo."

Conclusions

What a Woman! Deserves the Nobel Prize -

read more


The judges said Kenya had failed to show it was credibly investigating the six high-profile suspects [Reuters]
Law & Politics

The International Criminal Court (ICC) has dismissed the Kenyan
government's bid to stop a probe into post-election violence.
The organisation said on Tuesday that Kenya had failed to show it was
conducting its own investigation of six suspects.

The pre-trial chamber correctly decided and... the case against the
suspects is admissable," said Judge Daniel David Ntanda Nsereko at a
hearing held at the Hague-based court on Tuesday.

Conclusions

The Government's Case was incredible.

read more


Nairobi All Share Bloomberg -22.118% over 1 Year -21.4377% in 2011
N.S.E General

Value     61.09     

These Levels are 20 Month Lows.

read more


British American of Kenya Delays Stock-Exchange Listing Date by Six Days Bloomberg
N.S.E Equities - Finance & Investment


British American Investment Co., the Kenyan financial-services company
whose initial public offering last month was undersubscribed,
postponed its listing date by six days.The shares will begin trading
on the Nairobi Stock Exchange on Sept. 8 instead of tomorrow, the
company said in a statement published in the Daily Nation newspaper
today. It didn’t provide further details.

read more


Kenyan August inflation rate hits 16.67 pct Reuters
Kenyan Economy

Kenya's year-on-year inflation rate rose for the 10th month in a row
in August to a higher-than-expected 16.67 percent from 15.53 percent
in July as food prices climbed again, official data showed on Tuesday.

The Kenya National Bureau of Statistics said in a statement the
consumer price index rose 1.25 percent in August from a month earlier
after a 1.27 percent rise in July, driven by a 1.78 percent increase
in food and non-alcoholic drinks prices.

The median forecast for the August inflation rate in a Reuters poll of
analysts was 16.5 percent.

Analysts say food shortages will continue to pressure prices as Kenya
experiences a drought that is expected to extend into 2012. Sugar
prices have also surged in recent months due to a supply shortage.

According to the statistics office, sugar prices leapt 26.74 percent
in August from a month earlier while the cost of tomatoes, beef,
mangoes and rice also rose. The year-on-year rate of food inflation
stood at 23.86 percent.

read more



Kenya interbank rate plunges to 19.2515 pct Reuters
World Of Finance

Kenya's interbank lending rate dropped sharply to 19.2515 percent from
27.7299 percent central bank data showed on Thursday. The bank's
discount window lending rate, which tumbled on Monday, fell again to
17.87 percent from 19.83 percent, central bank added.

read more


Hand axes unearthed in Kenya are oldest advanced stone tools ever found Guardian
Africa

A rare haul of picks, flakes and hand axes recovered from ancient
sediments in Kenya are the oldest remains of advanced stone tools yet
discovered.

Archaeologists unearthed the implements while excavating mudstone
banks on the shores of Lake Turkana in the remote north-west of the
country.

The largest of the tools are around 20cm long and have been chipped
into shape on two sides, a hallmark of more sophisticated stone
toolmaking techniques probably developed by Homo erectus, an ancestor
of modern humans.

Trenches dug at the same site revealed remains of long-gone species
that shared the land with those who left the tools behind. Among them
were primitive versions of hippopotamuses, rhinos, horses, antelopes,
and dangerous predators such as big cats and hyenas.

The stone tools, made for crushing, cutting and scraping, gave early
humans a means to butcher animal carcasses, strip them of meat and
crack open their bones to expose the nutritious marrow.

Researchers dated the sediments where the tools were found to 1.76m
years old. Until now, the earliest stone tools of this kind were
estimated to be 1.4m years old and came from a haul in Konso,
Ethiopia. Others found in India are dated more vaguely, between 1m and
1.5m years old.

Conclusions

"The Acheulian tools represent a great technological leap," said
Dennis Kent, a geologist involved in the study at Rutgers University
in New Jersey and Columbia University's Lamont-Doherty Earth
Observatory in New York.

Lake Turkana Sunset Google Image Search
http://j.mp/r8I9YX

read more




 
 
N.S.E Today

The Shilling retreated and was last at trading around the 94.00 Level.
The NSE20 slumped 62.89 points to close at 3402.13 which is a Fresh
2011 Closing Low and the Index is -23.24% in 2011.
The Nairobi All Share closed 0.91 points lower at 75.24.
Market Cap was 939.045 billion versus 950.392b.
Equity Turnover was 190.551m versus 120.661m.



N.S.E Equities - Commercial & Services

Safaricom traded 23.604m shares and edged 1.639% lower to close at
3.00. Safaricom trades on a 9.009 Trailing PE and has a Dividend Yield
of 6.666%. A Good Line of Stock was traded today.

CMC Holdings was marked down 4.4176% to close at 11.90 and traded
595,400 shares.

TPS Serena bounced 2.63% to close at 58.50 and was the 2nd biggest
Gainer of only 5 Gainers at the Bourse today.

Kenya Airways retreated 2.38% to close at 30.75. Kenya Airways is
-34.5744% in 2011.



N.S.E Equities - Finance & Investment

Jubilee was the biggest absolute Gainer at the Bourse rallying 3.75%
to close at 166.00 on 200 shares. Jubilee trades on a 4.48 Trailing
PE.
Kenya Re was the 3rd best Gainer on the day at the Bourse turning 2.6%
higher to close at 7.90 and traded 28,800 shares.

KCB was marked down 2.7638% to close at 19.35 on light volume of
118,400 shares. KCB trades on a 7.011 Trailing PE and accelerated
Profit After Tax and Exceptional Items 4.057716b +41.573402% at the H1
Mark. KCB is completely oversold.
Equity Bank retreated 2.061% to close at 19.00 and traded 81,700 shares.
Barclays Bank edged 0.386% lower to close at 12.90 and traded 288,300 shares.
CFC StanBic eased 2.955% to close at 49.25 and traded 14,800 shares.
StanChart closed 1.477% lower at 200.00 and traded 3,900 shares.
COOP Bank eased 0.699% to close at 14.20 and traded 290,200 shares.



N.S.E Equities - Industrial & Allied

EABL shaved off 0.571% to close at 174.00 and traded 433,000 shares.
EABL recently reported FY Results where PAT grew 2% to 9.014b, which I
thought was better than Consensus. EABL set an all time closing High
of 227.00 on 7th January this Year and has retreated 13.43% in 2011
which is inside the NSE20 fall of 23.24%, during the same period.

KenGen was the 4th Gainer of 5 today and rallied 1.49% to close at
10.20 with 47,400 shares traded.
KPLC eased 1.298% to close at 19.00 and traded 221,800 shares.

Mumias Sugar fell 5.47% to close at 6.05 and traded 5.47% with 922,600
shares traded. Mumias trades on a 4.801 PE after its FY Earnings
Release and its Dividend Yield is 8.2644%.



by Aly Khan Satchu (www.rich.co.ke)
 
 
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September 2011
 
 
 
 
 
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