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 13th of July 2012
 
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

Star Articles 2012
http://www.rich.co.ke/rcfrbs/frbsshares.php

Macro Thoughts

Africa is a Safe Haven in an Uncertain World.

Home Thoughts

Fifty Years of the Rolling Stones New Yorker Photo Booth
http://j.mp/LdKk28

The Man defines Charisma.

And this Song is My Favourite.

Rolling Stones - Miss You #YouTube
http://j.mp/MljV8P

I have been sleeping alll alone
I have been howling in my sleep
You have been starring in my dreams

Sunset Maputo Harbour Mozambique #Africa Twitpic
http://www.twitpic.com/9s2c0i

read more


Obama’s Scramble for Africa
Law & Politics


Africa, where less than a decade ago, the U.S. had almost no military
presence at all.

Obama’s Scramble for Africa  Secret Wars, Secret Bases, and the
Pentagon’s "New Spice Route" in Africa  By Nick Turse

They call it the New Spice Route, an homage to the medieval trade
network that connected Europe, Africa, and Asia, even if today’s
"spice road" has nothing to do with cinnamon, cloves, or silks.
Instead, it’s a superpower’s superhighway, on which trucks and ships
shuttle fuel, food, and military equipment through a growing maritime
and ground transportation infrastructure to a network of supply
depots, tiny camps, and airfields meant to service a fast-growing U.S.
military presence in Africa.

In East African ports, huge metal shipping containers arrive with the
everyday necessities for a military on the make.  They’re then loaded
onto trucks that set off down rutted roads toward dusty bases and
distant outposts.

On the highway from Djibouti to Ethiopia, for example, one can see the
bare outlines of this shadow war at the truck stops where local
drivers take a break from their long-haul routes.  The same is true in
other African countries.  The nodes of the network tell part of the
story: Manda Bay, Garissa, and Mombasa in Kenya; Kampala and Entebbe
in Uganda; Bangui and Djema in the Central African Republic; Nzara in
South Sudan; Dire Dawa in Ethiopia; and the Pentagon’s showpiece
African base, Camp Lemonnier, in Djibouti on the coast of the Gulf of
Aden, among others.

According to Pat Barnes, a spokesman for U.S. Africa Command
(AFRICOM), Camp Lemonnier serves as the only official U.S. base on the
continent.  "There are more than 2,000 U.S. personnel stationed
there," he told TomDispatch recently by email.  "The primary AFRICOM
organization at Camp Lemonnier is Combined Joint Task Force — Horn of
Africa (CJTF-HOA). CJTF-HOA’s efforts are focused in East Africa and
they work with partner nations to assist them in strengthening their
defense capabilities."

Barnes did admit that in "several locations in Africa, AFRICOM has a
small and temporary presence of personnel. In all cases, these
military personnel are guests within host-nation facilities, and work
alongside or coordinate with host-nation personnel."

In 2003, when CJTF-HOA was first set up there, it was indeed true that
the only major U.S. outpost in Africa was Camp Lemonnier.  In the
ensuing years, in quiet and largely unnoticed ways, the Pentagon and
the CIA have been spreading their forces across the continent.  Today
— official designations aside — the U.S. maintains a surprising number
of bases in Africa.

Under President Obama, in fact, operations in Africa have accelerated
far beyond the more limited interventions of the Bush years: last
year’s war in Libya; a regional drone campaign with missions run out
of airports and bases in Djibouti, Ethiopia, and the Indian Ocean
archipelago nation of Seychelles; a flotilla of 30 ships in that ocean
supporting regional operations; a multi-pronged military and CIA
campaign against militants in Somalia, including intelligence
operations, training for Somali agents, a secret prison, helicopter
attacks, and U.S. commando raids; a massive influx of cash for
counterterrorism operations across East Africa; a possible
old-fashioned air war, carried out on the sly in the region using
manned aircraft; tens of millions of dollars in arms for allied
mercenaries and African troops; and a special ops expeditionary force
(bolstered by State Department experts) dispatched to help capture or
kill Lord’s Resistance Army leader Joseph Kony and his senior
commanders.  And this only begins to scratch the surface of
Washington’s fast-expanding plans and activities in the region.

Today, the U.S. is drawing down in Afghanistan and has largely left
Iraq.  Africa, however, remains a growth opportunity for the Pentagon.

A recent investigation by the Washington Post revealed that
contractor-operated surveillance aircraft based out of Entebbe,
Uganda, are scouring the territory used by Kony’s LRA at the
Pentagon’s behest, and that 100 to 200 U.S. commandos share a base
with the Kenyan military at Manda Bay. Additionally, U.S. drones are
being flown out of Arba Minch airport in Ethiopia and from the
Seychelles Islands in the Indian Ocean, while drones and F-15
fighter-bombers have been operating out of Camp Lemonnier as part of
the shadow wars being waged by the U.S. military and the CIA in Yemen
and Somalia.  Surveillance planes used for spy missions over Mali,
Mauritania, and the Sahara desert are also flying missions from
Ouagadougou in Burkina Faso, and plans are reportedly in the works for
a similar base in the newborn nation of South Sudan.

U.S. special operations forces are stationed at a string of even more
shadowy forward operating posts on the continent, including one in
Djema in the Central Africa Republic and others in Nzara in South
Sudan and Dungu in the Democratic Republic of Congo.  The U.S. also
has had troops deployed in Mali, despite having officially suspended
military relations with that country following a coup.

According to research by TomDispatch, the U.S. Navy also has a forward
operating location, manned mostly by Seabees, Civil Affairs personnel,
and force-protection troops, known as Camp Gilbert in Dire Dawa,
Ethiopia.  U.S. military documents indicate that there may be other
even lower-profile U.S. facilities in the country.

The size of U.S. forces conducting these joint exercises and training
missions fluctuates, but Barnes told me that, "on an average basis,
there are approximately 5,000 U.S. Military and DoD personnel working
across the continent" at any one time.  Next year, even more American
troops are likely to be on hand as units from the 2nd Brigade Combat
Team, 1st Infantry Division, known as the "Dagger Brigade," are
scheduled to deploy to the region.  The roughly 3,000 soldiers in the
brigade will be involved in, among other activities, training missions
while acquiring regional expertise.

Other contracting documents suggest that, in the years to come, the
Pentagon will be investing up to $50 million in new projects at that
base, Kenya’s Camp Simba, and additional unspecified locations in
Africa.

Conclusions

I think Washington had an Epiphany a while back.

I have been making this Point for a while.

I recall talking to the Late Minister John Michuki [who was the Acting
Finance Minister around the Time of the Lehman Collapse] and he
described to me How he was in Washington around that time and he felt
the Epiphany was at that Moment.

I made this Point in an agent Provocateur way on @BmarshallCCTV 's
Show which shows Saturday
http://www.twitpic.com/a6fp89

Getting back to the Epiphany in Washington

The Big Kahuna @BarackObama was not in Twitpic
http://www.twitpic.com/94d0ur

The Intention is surely to repel China in Africa via the Deployment of
Hard Power
http://newscontent.cctv.com/news.jsp?fileId=145213

 SOUNDBITE (English) Aly-Khan Satchu, investment adviser of Rich
Management, Nairobi Stocks Exchange authorized data vendor:
"I think they finally woke up. I don't know when the penny dropped,
but I think dropped in the last 18 months."

 SOUNDBITE (English) Aly-Khan Satchu, investment adviser of Rich
Management, Nairobi Stocks Exchange Authorized Data Vendor:
"And now everybody in Washington is going hang on a second, you know:
How do we reverse this process? How do we repel the Chinese? And
essentially I think this document, which is a very interesting one,
but I think it's a veil for the awareness by the US and its allies."

 SOUNDBITE (English) Aly-Khan Satchu, investment adviser of Rich
Management, Nairobi Stocks Exchange Authorized Data Vendor:
"It's a very complex collision and I think if it's a game of money,
then China wins because China is the banker. But if it's a game of
using hard power, America is going to win it in the short term."

24-OCT-2011 Gaddafi's Body in a Freezer - What's the Message? The Star
http://www.rich.co.ke/media/docs/036NSX2410.pdf

The raw feed of the capture and then death of the Liby- an dictator
Muammar Gaddafi and his son Mo’tassim Gaddafi raise plenty of
questions. The bodies are currently lying side by side, bloodied and
half-naked on a filthy mattress in a meat locker, in Misrata.

John Donne wrote: “... Therefore, send not to know for whom the bell
tolls, It tolls for thee...”

I am left thinking, this dead Gaddafi business is one powerful
message. And today Marshall McLuhan’s prediction in The Gutenberg
Galaxy (1962) that ‘The new electronic interdependence recreates the
world in the image of a global village’ has come to pass. The image of
a bloodied Gaddafi, then of a dead Gaddafi in a meat locker have
flashed around the world via the mobile, YouTube and Twitter.

Who is in charge of the messaging? Through the fog of real time and
raw footage, I note a very powerful message. The essence of that
message being;

‘Don’t Fxxk with us! Be- cause you will end up dead and a trophy
souvenir in a fridge.’

That same person is probably repeating Muammar’s comment, “I tell the
coward crusaders: I live in a place where you can’t get me. I live in
the hearts of millions.”

And asking ‘Really? Are You? Or are you now very dead and in a meat locker?’

Meanwhile, there are 100 elite US soldiers in east Africa, armed with
an executive order to remove Joseph Kony from the bat- tlefield. The
new R2P [Right to Protect] rule [which was used in Libya] is a
powerful legal tool.

It seems to me the pitch has been tilted big Time. That political risk
in Africa is in fact multi sided and complex.

I was in the Samburu last week and there were vultures in a tree
silhouetted against the sky.

Muammar Gadhafi lies on a mattress in a commercial freezer
http://j.mp/MovmaG

Rolling back China CS Monitor
http://j.mp/KoWm89

Now, there is a back story to this. You see, through 2011, Sudan
provided China with 5 percent of its total oil imports. You will
recall that 35,000 Chinese workers were evacuated out of Libya in nine
days last year and China was rolled back and right out of Libya. Not
so long ago, President Obama authorized the deployment to Uganda of
approximately 100 combat-equipped US forces to help regional forces
ostensibly to “remove from the battlefield” – meaning capture or kill
– Lord’s Resistance Army leader Joseph Kony.

Then in January this year, President Barack Obama issued this memorandum.

    "By the authority vested in me as President by the Constitution
and the laws of the United States, including section 503(a) of the
Foreign Assistance Act of 1961, as amended, and section 3(a)(1) of the
Arms Export Control Act, as amended, I hereby find that the furnishing
of defense articles and defense services to the Republic of South
Sudan will strengthen the security of the United States and promote
world peace," said the official text of Obama's decision.

It seems to me Sudan has become the epicenter of the US and China's
collision in Africa and that we are watching a 21st-century,
high-stakes proxy war.

Vultures in the Tree Samburu Twitpic
http://www.twitpic.com/76de0e

Camp Lemonnier, Djibouti Credit: U.S. Army
http://j.mp/LdNL99

United Nations and Democratic Republic of Congo army used helicopter
gunships on Thursday to attack army mutineers
http://j.mp/Le7rd7

Rumangabo - The United Nations and Democratic Republic of Congo army
used helicopter gunships on Thursday to attack army mutineers thought
to be threatening the main eastern city of Goma.

Three helicopters from the UN country mission and two from the DRC
army (FARDC) were seen around the villages of Nkokwe and Bukima, where
the so-called M23 rebels are thought to have positions.

The UN and the Congolese army sent MI24 and MI25 helicopters flown by
Ukrainian pilots. The gunships, first made by the Soviet Union,
strafed hillsides with 30mm rounds and fired rockets, a UN source
said.

"We made several passes on rebel positions," the UN official said.

A United Nations attack helicopter returns to Goma
http://j.mp/NlP1bX

Syria intrigue points to palace coup Victor Kotsev Asia Times
http://j.mp/NAF3pa

Stratfor writes:
''As one astute observer of the Syrian conflict explained, the al
Assad regime is like a melting block of ice. The Alawite core of the
block is frozen intact because the minorities fear the consequences of
losing power to a Sunni majority. We have not yet seen the mass
defections and breakdown in command and control within the military
that would suggest that large chunks of this block are breaking off.
But the Sunni patronage networks around that core that keep the state
machinery running are slowly starting to melt. The more this block
melts, the more fragile it becomes and the more likely we are to see
cracks form closer and closer to the center. At that point, the al
Assad regime will become highly prone to a palace coup scenario.''

In the same article, Stratfor analyses the regional implications of
the Syrian intrigue:
'Thus, the regional campaign against Iran is unlikely to end in Syria.
Should Sunnis gain the upper hand in Syria, the Shiite-led bloc in
Lebanon (led by Hezbollah and its allies) will likely lose its
dominant status. Turkish, Saudi and Qatari backing for Sunnis in the
Levant and the rise of Islamists in the Arab states will be focused on
creating a more formidable bulwark against Iran and its Arab Shiite
allies.

The most important battleground to watch in this regard will be Iraq.
There are a number of regional stakeholders who are not satisfied with
Baghdad's Iranian-backed Shiite government. There also likely will be
a healthy Sunni militant flow to draw from the Syrian crisis. These
militants will not only need to be kept occupied so that they do not
return home to cause trouble, but they can also serve a strategic
purpose in reviving the campaign of marginalized Sunnis against Shiite
domination. Iran may feel comfortable in Iraq now, but the domino
effect from Syria could place Iran back on the defensive in Iraq,
which has the potential to re-emerge as the main arena for the broader
Arab Sunni versus Persian Shiite struggle for regional influence.
These trends will take time to develop, and the pace of Sunni
empowerment in Syria remains in question, especially as the Alawite
core of the regime is so far enduring. That said, it doesn't hurt to
look ahead.' [3]

Conclusions

As I said before slashing up Bashar Assad is all about grabbing Ali Khamenei.

Khamenei at grave of martyrs killed during Iran-Iraq War Wikipedia
http://en.wikipedia.org/wiki/File:Ayatollah_Kh%C4%81menei_and_Martyr%27s_grave.jpg

President Bashar al-Assad meeting with UN-Arab League envoy Kofi Annan
(L) in the Syrian capital Damascus on 9 July 2012
http://j.mp/NjM5MQ

A handout picture released by the official Syrian Arab News Agency
(SANA) shows Syrian President Bashar al-Assad meeting with UN-Arab
League envoy Kofi Annan (L) in the Syrian capital Damascus on 9 July
2012

The following is an account of what was said at the meeting. Assad and Annan
http://j.mp/NjM5MQ

 Annan began by indicating that he had followed the recent media
appearances by the Syrian president, from the German television to the
Turkish Cumhuriyet newspaper.

“It seems, Mr. President, that you are intensifying your media
appearances in this period,” he remarked.

“This is true for two reasons. First, I am someone who prefers action
and then words. Second, we noticed an extensive blackout of the facts
in addition to the distortion and misrepresentation of many matters.
So I saw it as my duty to speak,” Assad replied, smiling.

Annan replied saying he completely understands the difference between
the events on the ground and the prevailing image that reflects the
imagined scenarios of several agendas and impressions.

“We are a state, a government, and official authorities. Therefore, if
you agree with us and we gave our word to abide by the ceasefire, we
will be responsible for this and you can refer to us for
implementation. But who will you negotiate with on the other side?”
Assad asked his guests.

“In any case,” he continued, “I think your problem will be on the
other side, not ours. Will you be able to name someone who represents
the opposition?” Annan could not hold his laughter. He seconded
Assad’s words and added, “I completely understand this difficulty. I
saw them at the last conference in Cairo.”

The formal meeting concluded, but there was still time for some
closing remarks. Getting ready to leave, Annan asked his host, “How
long do you think this crisis will continue?”

“As long as the [...] regime funds it,” Assad replied. But Annan was
not surprised by the answer. “Do you think they are behind all the
funding?” he inquired.

“They are behind many things that happen in our region. They believe
they will be able to lead the whole Arab world today and in the
future,” Assad said.

The international envoy concluded by remarking, “But it seems to me
that they lack the population needed for such an ambition.” This made
everyone laugh.

Conclusions

President Assad is referencing Qatar and the Al-Thani Family.

Qatar's Emir Sheikh Hamad Bin Khalifa Al Thani (R) and his wife SHEIKHA MOZAH
http://j.mp/I8F3XH

SHEIKHA MOZAH
http://j.mp/M574Wh

And I wrote this a while back when I had just visited Aljazeera

15-AUG-2011 Soft Power Qatar and Al-Jazeera The Star
http://www.rich.co.ke/media/docs/024NSX1508.pdf

‘Aly-Khan can you catch a flight and spend a few days with us in
Doha?’ I caught the flight that afternoon. I had been to Doha exactly
ten years ago, which was just before the second Gulf War started. I
stayed with my family in the Ritz Carlton and was in a purple patch at
Dresdner Bank then and made a bundle for the Bank, between trips to
the spa and the hot tub. So I was pleasantly surprised to find that
the folks at Aljazeera had done their homework and put me right back
in the same hotel and in the very same room, which I thought was
serendipity of a wonderful sort.

Anyway that’s the back- grounder.

What I want to look at is Aljazeera and how it is a preeminent example
of soft power in this 21st century of ours.Soft power is the ability
to obtain what one wants through co-option and attraction. It can be
contrasted with ‘hard power’, that is the use of coercion and payment.
 The idea of attraction as a form of power dates back to ancient
Chinese philoso- phers such as Laozi in the 7th century BC.

“Water is fluid, soft, and yielding. But water will wear away rock,
which is rigid and cannot yield. As a rule, whatever is fluid, soft,
and yielding will overcome whatever is rigid and hard. This is another
paradox: what is soft is strong.” Lao Tzu.

This idea was further developed by Joseph Nye of Harvard University in
his 2004 book, Soft Power: The means to success in world politics and
I happen to believe that Emir of Qatar is Nye and Lao Tzu’s very best
student.

There are about 250,000 Qataris in a world of about seven billion
souls. That’s considerably less than 0.1 per cent. They tell me
Aljazeera is beamed into more than 200m households. Since Aljazeera
started streaming their content direct onto my lap top (my better half
calls it my love top and I told Nick Clark, who is a presenter at
Aljazeera,

‘My wife has decided to kick you out of my bed at night.’ I take the
lap top to bed when events are accelerating and I want to keep up) The
numbers have spiked even further.

The point I am making is this. You can have all the hard power you
want but we live in an Information and Communications Century now and
in the context of that new landscape, Aljazeera has delivered a
spectacular return any way I care to measure it, for the Emir.

And I look around at the likes of Bashar the brutal, Saleh the surreal
and Muammar and I think to myself

‘Who is showing whom a clean pair of heels?’ ‘Who is ahead of the curve?’

Conclusions

The Emir has turned into as Arch an Exponent of Hard Power as He has
proven of Soft Power.

@nickclarkaljaz #Doha #Aljazeera Twitpic
http://www.twitpic.com/64fpdb

Trading #Information and Trading Markets look very similar #Aljazeera Twitpic
http://www.twitpic.com/64p042

read more


Chinese economy hits three-year low Guardian
International Trade


The world's second-largest economy grew by 7.6% in the three months
ending in June compared with a year earlier, down from the previous
quarter's 8.1%. It is the lowest since the first quarter of 2009
during the depths of the global financial crisis.

"The growth rate of 7.6% is already an achievement because the
economic situation facing China has been complex and severe," said
Sheng Laiyun, a government spokesman, at a news conference. "We have
seen tepid domestic and external demand."

Conclusions

I think China is going to slow much more sharply than Consensus Estimates.

China Economic Data Questioned as Electricity Use Slows Bloomberg
http://j.mp/OBY88a

The figures that go into China’s gross domestic product are “man-made”
and “for reference only,” Li Keqiang, then a regional Communist Party
head, said in 2007.

The comments by Li, now a vice premier who’s expected to become
premier next spring, were revealed in a diplomatic cable published by
WikiLeaks in late 2010. Li’s remarks are especially relevant as China
announced today that the economy expanded 7.6 percent last quarter
from a year earlier, the slowest pace in three years.

Electricity consumption has slowed much faster than growth in official
GDP when it normally should move more in tandem. That has stirred
speculation GDP figures are being skewed upward in the run-up to a
leadership transition this fall.

“Out of the black box comes a number, and that number doesn’t always
line up with the other numbers,” says Andrew Batson, Beijing-based
research director at macroeconomics consultant GK Dragonomics. “I
wouldn’t be surprised if the GDP numbers this year are smoothed.”

Electricity generation was unchanged in June from a year earlier at
393.4 billion kilowatt-hours, according to today’s data. That’s the
first time since May 2009 that production hasn’t increased, excluding
a contraction in January this year as factories shut for the weeklong
holiday.

“Why would you ever lift the hood and show people how you do it?”
Stevenson-Yang said. “That only reduces your ability to change numbers
if you need to.”

Conclusions

This is a very tricky Moment for China. A Sharp Economic Slowdown and
a Hand Over in the same Year.

Currency Markets at a Glance WSJ
http://j.mp/97tI8l

Euro 1.2191 touched 1.2167 the least since June 2010 yesterday
Dollar Index 83.66 touched 83.829 the highest since July 2010
Japan Yen 79.25 is set for a 1.2 percent gain this week against the
euro. and 0.5 percent weekly gain versus Dollar
Swiss Franc 0.9851
Pound 1.5424
Aussie 1.0155
India Rupee 55.605
South Korea Won 1151.64
Brazil Real 2.0406
Egypt Pound 6.0614
South Africa Rand 8.3242

The yen gained 6.3 percent in the past three months, the best
performance among the 10 developed-nation currencies tracked by
Bloomberg Correlation-Weighted Indexes. The dollar rose 3.9 percent,
while the euro dropped 3.8 percent.

taly will sell bonds maturing in 2015, 2019, 2022 and 2023 today.
Moody’s cut its debt rating to Baa2 from A3. That makes the country’s
grade the same as those of Kazakhstan, Bulgaria and Brazil, according
to data compiled by Bloomberg.

Conclusions

I expect QE3.
I expect the Euro to reach 1.1760.

Euro versus the Dollar 1 Year Chart INO 1.2186 Last
http://j.mp/MIU0GI

Headed to 1.1760.

Dollar Index 1 Year Chart INO 83.661 Last
http://bit.ly/eBOSI9

The Department of the Treasury #Washington QE and the Money Printing Gig Twitpic
http://www.twitpic.com/93pu4v

The Wizards are going to print more Magic Money imminently.

read more


Commodity Markets at a Glance WSJ
Commodities


Crude Oil 1 Year Chart INO 86.13 Last
http://j.mp/P47Rrr

Crude for August delivery was at $86.20 a barrel, up 12 cents, in
electronic trading on the New York Mercantile Exchange at 2:44 p.m.
Singapore time. The contract rose 27 cents yesterday to $86.08, the
highest close since July 5. Prices are up 2.1 percent this week and 13
percent lower this year.

Conclusions

I am a Seller of 75.00 Dollar Puts.

Gold 1 Year Chart INO 1573.76 Last
http://j.mp/zNUcY6

Emerging Markets


Frontier Markets

read more


World Bank approves loans for Kenya-Ethiopia power line Reuters
Africa


The World Bank on Thursday approved loans totaling $684 million for
Ethiopia and Kenya to finance a cross-border power line, the first
phase of a $1.3 billion project to develop a regional power grid in
East Africa.

The World Bank said the financing -- $243 million for Ethiopia and
$441 million to Kenya -- will allow Ethiopia to sell surplus power
needed in Kenya, which faces severe power shortages as its economy
blossoms from new oil and gas discoveries.

"It will expand access and lower the cost of electricity supply to
homes and businesses across Kenya and help to reduce thermal power
emissions in Kenya, a clear benefit to the region's environment," said
Makhtar Diop, World Bank vice president for Africa.

Conclusions

Its quite a Project this and is going to dynamically inflect the Power
Situation in East Africa.

Sudan bourse gets boost from Gulf Arab Investors Reuters
http://j.mp/Mp8jeW

Since the start of the computer bourse trading, volumes for shares and
bonds have risen to 1.24 billion Sudanese pounds at the end of May,
almost double year-on-year, general manager Osman Hamad Khair said.

"We are expecting trading volumes to at least double this year," he
said in an interview, adding that 13 new firms had been listed since
the launch of the new trading system, a record number. It had
previously around 40 listed firms.

He said that Gulf investors now make up around 25 percent of trading,
a number that was on the rise despite Sudan's economic woes with
annual inflation hitting 37 percent in June - more than double the
level a year ago.

Khair said risk-willing foreign investors were buying into shahamas,
which make up 90 percent of trading, as the average return was between
18 percent and 20 percent, well above bond yields on other markets.

"They (shahamas) are guaranteed by the central bank," he said.

Conclusions

The Bourse has been resilient.

The Khartoum stock exchange's General Manager Osman Hamad Khair DayLife
http://j.mp/sBvNup

The Khartoum Stock Exchange
http://j.mp/SfOewv

Egypt ^EGX30 Bloomberg +32.9099%
http://j.mp/u7GYXZ

4,814.84
+20.39
+0.43%

Egypt Pound versus The Dollar

Dollar versus Rand 1 Year Chart INO 8.3357 Last
http://quotes.ino.com/chart/index.html?s=FOREX_USDZAR&v=d12&t=c&a=50&w=1

Keeping an Eye on the Rand with a View to going long in Front of QE3.

read more


Kenya leases all oil blocks Nation
Kenyan Economy


“All our 46 oil blocks including the nine in the deep sea are now
contracted out and our offices are currently busy signing production
sharing contracts. The role of the ministry now is to follow up to
ensure that the work programmes are implemented,” Mr Murungi said this
on Wednesday evening at the sidelines of the launch of the Oil and Gas
Summit scheduled to start in November.

Apache Corp is expected to drill Kenya’s first deep-water oil well in
three months.

“We are going to deep sea drilling again from September with Apache
about 60 kilometres East of Malindi. We are witnessing significant
interest since we struck oil in Turkana,” he said.

Renewed interest in oil and gas exploration has seen the government
rake in over Sh5 billion in license fees.

Kenya has 46 gazetted blocks located in four sedimentary basins
covering an area of 485,000 square kilometres.

Conclusions

Maputo, Boom Town The Star
http://www.rich.co.ke/media/docs/040NSX0406.pdf

GREETINGS from the Serena Polana, Maputo. I can confirm that Maputo is
the land of wonderful and flavoursome tiger prawns. The Architecture
is also deliciously retro. By the way, the Polana was built in 1922
and the flavour is fabulously Riviera and very swanky. It is less than
4 hours by plane from Nairobi and surely set to be the most of in
things and places to visit.

Of course, Mozambique has popped large onto the global radar because
of gas reserves that have been discovered offshore and in the deep
sea.

I have said before, that I believe the eastern seaboard of Africa is
clearly the last great energy prize in the c21st and I believe this
lake of hydrocarbons stretches from Mozambique up through Tanzania,
Kenya and Somalia. We remain in the early stage of this discovery
process but Mozambique is further along the curve.

Places on The Eastern Seaboard Africa Indian Ocean

Maputo from the Sea #Africa Twitpic
http://www.twitpic.com/9sab9t

Pemba #Mozambique from the Air Twitpic
http://www.twitpic.com/9t4u1g

Big banks on the spot over bad loans, profit reporting Business Daily
http://j.mp/LNLasI

Failure to observe international accounting standards (IAS) has left
wide gaps in the financial services market that many banks are using
to disproportionately blow up their earnings, says the report by Citi
Group.

“The six largest banks may be under provisioned by Sh20.8 billion,”
says Citi Group.

“We estimate that International Accounting Standards (IAS) 39
adjustments overstated the profits of Equity Bank in 2007, KCB in
2011, Barclays Bank in 2009, Co-operative Bank in 2008 and CFC Stanbic
in 2008 by 15, 19, 23, 10 and 23 per cent respectively,” says the
report titled “Don’t get caught when the music stops”.

Rule 39 of the IAS speaks to reclassification of government securities
held by banks demanding that they be done at market value and not
through mere transfers in the books.

Banking executives dismissed the report, terming it biased “because it
has authored by an interested party”.

Richard Etemesi, CEO of Standard Chartered Bank, said: “In my view
this is a ridiculous report, very shoddily put together with
absolutely no work done to validate preposterous allegations.” He
added that the Kenyan banking sector is highly regulated and the
figures produced are audited by international firms of auditors and
also the CBK.

“Therefore to suggest that the published numbers could be manipulated
by banks in any way is bordering on the ridiculous.”

Citi Bank operates in Kenya but is not listed at the Nairobi
Securities Exchange unlike the banks analysed in the report.

Conclusions

They are an interested Party.

Citi Kenya Banks Report
http://www.rich.co.ke/rcfrbs/frbwarticle.php?id=ODk%3D

Kenya Big Cap Banking Stocks Data

Kenya Commercial Bank share price data here +50.445% on a Total Return
Basis in 2012
http://www.rich.co.ke/rcdata/company.php?i=MjE%3D

Par Value:                  1/-
Closing Price:           23.50
Total Shares Issued:          2950170000.00
Market Capitalization:        69,328,995,000
EPS:             3.72
PE:                 6.317

Equity Bank share Price Data here +36.778% in 2012 on a Total Return Basis
http://www.rich.co.ke/rcdata/company.php?i=MTc%3D

Par Value:                  0.50/-
Closing Price:           21.50
Total Shares Issued:          3702780000.00
Market Capitalization:        79,609,770,000
EPS:             2.79
PE:                 7.706

Standard Chartered share Price data here +28.75% on a Total Return Basis 2012
http://www.rich.co.ke/rcdata/company.php?i=MjU%3D

Par Value:                  5/-
Closing Price:           195.00
Total Shares Issued:          277450000.00
Market Capitalization:        54,102,750,000
EPS:             19.75
PE:                 9.873

Barclays Bank Kenya share price data here +10.727% Total Return in 2012
http://www.rich.co.ke/rcdata/company.php?i=MTQ%3D

Par Value:                  2/-
Closing Price:           13.75
Total Shares Issued:          5431540000.00
Market Capitalization:        74,683,675,000
EPS:             1.49
PE:                 9.228

Barclays Bank PLC share Price Data here -6.818% 2012
http://www.bloomberg.com/quote/BARC:LN

COOP Bank Kenya share price data here +17.647% Total Return in 2012
http://www.rich.co.ke/rcdata/company.php?i=NTY%3D

Par Value:                  1/-
Closing Price:           11.60
Total Shares Issued:          3492370000.00
Market Capitalization:        40,511,492,000
EPS:             1.53
PE:                 7.582

CFC Bank share Price data here +11.25% Total Return in 2012
http://www.rich.co.ke/rcdata/company.php?i=MTU%3D

Par Value:                  5/-
Closing Price:           44.50
Total Shares Issued:          273680000.00
Market Capitalization:        12,178,760,000
EPS:             6
PE:                 7.417

Diamond Trust Bank share Price data here +3.31% 2012
http://www.rich.co.ke/rcdata/company.php?i=MTY%3D

Par Value:                  4/-
Closing Price:           90.50
Total Shares Issued:          195640000.00
Market Capitalization:        17,705,420,000
EPS:             13.58
PE:                 6.664

30-MAY-2011 Price Your Bonds To The Market Price The Star
http://www.rich.co.ke/media/docs/012NSX3002.pdf

The Setting Sun Lamu www.rich.co.ke Twitpic
http://www.twitpic.com/2reo8b

Kenya to reopen 10-yr, 5-yr Treasury bonds Reuters
http://j.mp/N4PbIS

Kenya's central bank will reopen a 10-year Treasury bond and a 5-year
Treasury bond this month, to raise a total of 10 billion shillings
($119.40 million), traders said on Thursday.

They said the bond auction, which will be start on the 13th to the
24th of this month, will have a coupon rate of 12.705 percent for the
10-year bond and 12.855 percent for the 5-year bond.

At the last sale of a 10-year Treasury bond last month, the weighted
average yield fell to 12.705 percent. The yield on the 5-year bond
rose to 13.89 percent in August 2011.

Kenya Shilling versus The Dollar Live ForexPros
http://j.mp/5jDOot

Nairobi ^NSE20 Bloomberg Year To Date +597 Points and +18.6271% in 2012.
http://j.mp/ajuMHJ

read more



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

 
 
Forgot your password? Register Now
 
 
July 2012
 
 
 
 
 
COMMENTS

 
In order to post a comment we require you to be logged in after registering with us and create an online profile.
 
  aly khan says:
july 15th, 2012 at 10:15 am
CCTV Talk #Africa #Iran #oil sanctions CNTV #Video @BMarshallCCTV
http://j.mp/LS3vov