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Putin's Goal for Ukraine National Interest
Law & Politics
Going forward, there are three objectives to be obtained--first, to
weaken the bargaining position of the Ukrainian government and to move
it towards acceptance of Russian proposals; the second, to destroy or
degrade its military and economic capabilities, and the third, and
perhaps most important, is to discredit Western promises of aid and
support and, if possible, induce a feeling of betrayal and abandonment
among Ukraine's leaders.
Nato has thrown out a whole new characterisation of warfare called
'ambiguous' warfare. Eastern Ukraine has become a 'shadow- zone.'
"We need to immediately begin substantive talks... on questions of the
political organization of society and statehood in southeastern
Ukraine" Vladimir Putin
Putin has this week sparked renewed speculation that he may be seeking
to create a statelet in south-east Ukraine, after he employed a loaded
Tsarist-era name "Novorossiya" to refer to the region.
Putin's tough talk also comes as rebels turned the tide on advancing
Ukrainian troops, by snatching a series of towns and trapping the army
"This is not something that's comparable to the challenges we faced in
the Cold War," Obama said of the current crises. "This is something we
Saudi king warns of terrorism threat to U.S., Europe
Law & Politics
The king made the statement during a reception for foreign ambassadors
held in Jeddah.
"I ask you to convey this message to your leaders... Terrorism at this
time is an evil force that must be fought with wisdom and speed," said
King Abdullah. "And if neglected I'm sure after a month it will arrive
in Europe and a month after that in America."
.@PremierTusk Mixes Charm With Pragmatism as First Easterner to Lead EU
Law & Politics
Tusk is a master at "seducing" allies over red wine, cigars and
discussions of his favorites from ancient Greece and Rome, according
to Piskorski's 2014 memoir, "Between Us Liberals."
Poland's front-line status in the Ukraine crisis this year helped
propel Tusk into the limelight.
A soccer enthusiast who has taken to running, Tusk told Spiegel
magazine in an April 2011 interview that he prefers "pragmatism to
great visionary designs" as that is "how most normal people think."
President Robert Mugabe, 90, Africa's oldest leader, was showered with praise but not with banknotes on his 13th trip to China in search of financial rescue.
"Our securitisation, which we have already agreed, is not to mortgage
our minerals but to set aside a portion of cash flows that arise when
we are exploiting our mineral resources, whether diamond and gold,"
A well-connected analyst in Harare, who did not want to be named as he
had not yet been able to assess the China deal signed by Mugabe, said:
"So far everything about these deals in China is secret.
"But we know that Zimbabwe is going to pay huge rates for what we
believe are infrastructure development loans, such as completing a dam
which has been under construction for years and an ongoing power
project which now seems will cost double the original figure.
"These deals are insured by Sinosure which has assessed Zimbabwe as E
minus, in other words a write-off. As soon as possible we need to see
if we can get an audit on these deals."
Lesotho Maseru Bus Station
Islamists attack intelligence site in Somalia, leaving 11 dead
After the initial blast, gunmen stormed the compound but did not reach
the underground cells where suspected militants were being detained,
One intelligence officer, who identified himself only as Nur, told
Reuters the gunmen had entered one building, forcing security
personnel to fight room-to-room to clear them out. "All the attackers
perished in the end," Nur said.
"It seems their target was to cause a mess here and thus free their
militant colleagues held in the underground cells, but that will not
happen," Nur said.
Sheikh Abdiasis Abu Musab, al Shabaab's spokesman for military
operations, told Reuters the group was behind the attack, the latest
in a series of raids in Mogadishu in recent months, including a July
assault on the presidential compound.
"For a long time innocent Muslims have suffered in the dungeons of
that prison, subjected to torture and humiliation," he said in a
statement, adding the raid was "in retaliation and as just punishment
for the apostate criminals."
South Africa All Share Bloomberg +10.167% 2014
50,959.02 +174.11 +0.34%
Dollar versus Rand 6 Month Chart INO 10.6524
Egypt Pound versus The Dollar 3 Month Chart INO 7.1854
Egypt EGX30 Bloomberg +39.2804% 2014 [Multi Year Highs]
9,446.83 +11.78 +0.12%
Kellogg Co, the world's top breakfast cereal maker, is interested in
acquiring at least a 51 percent stake in Bisco Misr, the Egyptian
snack maker, Bisco Misr said in a statement on Sunday.
Bisco Misr is one of the country's main bakers, producing more than 90
types of biscuits and cakes.
Nigeria All Share Bloomberg +0.4911% 2014
41,532.33 +172.44 +0.42%
Ghana Stock Exchange Composite Index Bloomberg +2.5641% 2014 [January 2014 Lows]
2,200.18 +2.10 +0.10%
Viruses exhibit non-linear and exponential characteristics 18-AUG-2014
WHO said on its website that "staff at the [Ebola] outbreak sites see
evidence that the numbers of reported cases and deaths vastly
underestimate the magnitude of the outbreak".
That is surely a given. The World Bank has written treatises on data
gathering in sub-Saharan Africa and therefore I err on the side of a
massive undercount in the matter of Ebola.
According to Nobel Prize-winning biologist Joshua Lederberg, "The
single biggest threat to man's continued dominance on this planet is
the [Ebola] virus."
Harmit Malik, an evolutionary geneticist, has said that "We have been
in an evolutionary arms race with viruses for at least one hun- dred
Viruses exhibit non-linear and exponential characteristics and the new
"cheek by jowl" living arrangements in so many of our cities surely
present the Ebola virus with optimal conditions.
01-SEP-2014 Greatest Bull markets climb the wall of worry @NSEKenya
THE Nairobi all share opens today having closed at a record high every
single session last week which is a record breaking winning streak.
The Nairobi all share has rallied +15.5799% so far in 2014 and this
year's acceleration is a part of a bull market that began in 2012. The
all share has posted a +110.83% over last three years.
Interestingly,it has rallied +28.55% since the Westgate attack last
year. The Nairobi NSE20 soared 50.23 points on friday to close at a
more than five-year high of 5139.39.
Edwin Lefevre who wrote Reminiscences of a Stock Operator, a 1923
roman à clef which is the thinly disguised biography of Jesse
Lauriston Livermore said:
''The tape is your telescope. You can depend upon it seven out of ten cases."
The point he was making was that you cannot fight the tape. And the
point I am making is that the tape has been emitting a very compelling
and incontestable signal. The rally has good breadth and in my opinion
the market is headed a lot higher.
In the book Reminiscences, there is a fellow called Patridge who
responds to every question;
"Well this is a bull market,you know!"
This is the point.
The recent shilling wobble has been uppermost in the markets' mind and
touched a 31-month low of 88.90 last week before the central bank
intervened and sold between $30m- 50m to stem the slide and bounced
the shilling as far 88.35, which is where the currency ended the week.
Njuguna Ndung'u described the shilling's weakness as a "paradox" to
the Financial Times' Katrina Manson. It was not too long ago that I
was referring to the ''teflon'' shilling. The shilling remains the
second best performing currency in Africa against the US dollar. The
dollar has embarked on a meaning- ful and broad based rally as
investors anticipate a rate hike in the US ahead of all other
developed economies. The shilling's recent wobble might have been in
part informed by the gener- ally stronger dollar. Overlay the fact
that; "Tea prices have not been strong this year and pressure has
built because there's been a cratering of hard currency tourism
receipts" [my com- ments to the FT] and we can understand the recent
wobble. I, for one, am not prepared to buy the 90+ shilling per dollar
and even 95 forecast. The shilling has confounded expecta- tions and
will confound them again. The most important [inverse] correlation for
the shilling is with the price of crude oil. Crude oil has retreated
more than 10 per cent over the last four weeks and this price retreat
will give relief to the shilling.
History says the greatest bull markets climb the wall of worry. Well
our all share index has rallied +28.55% since Westgate.
#Westgate from @CNBCAfrica Bureau #Nairobi on the 19th Floor 342 days ago
National Bank reports H1 PAT 2014 +16.679% Earnings here
Par Value: 5/-
Closing Price: 28.75
Total Shares Issued: 280000000.00
Market Capitalization: 8,050,000,000
Group 1st half Earnings through 30th June 2014 versus through 30th June 2013
First Half Loans and Advances Net to Customers 54.717166b versus
First Half Total Assets 109.284516b versus 74.668289b +46.36%
First Half Total Interest Income 4.831549b versus 4.027861b +19.953%
First Half Total Interest Expenses 1.634969b versus 1.253401b +30.4426%
First Half Net Interest Income 3.196580b versus 2.774460b +15.2144%
First Half Total Non-Interest Income 1.581176b versus 1.132080b +39.6699%
First Half Total Operating Income 4.777756b versus 3.906540b +22.3014%
First Half Staff Costs 1.898552b versus 1.751763b +8.3795%
First Half Total Operating Expenses 3.529758b versus 2.962588b +19.1444%
First Half Profit Before Tax 1.247998b versus 0.943952b +32.2099%
First Half Profit after Tax 776.366m versus 666.243m +16.679%
A very big expansion of +98.818% in Loans and Advances to Customers.
A Rights Issue is a Given.
Tanzania has edged past Uganda as Kenya's largest export market in East Africa
The report showed that the US imported goods from Kenya worth Ksh3.7
billion ($41.8 million) in June, followed by Tanzania at Ksh2.8
billion ($31.6 million) and Uganda at Ksh2.5 billion ($28.3 million).
Safaricom, Airtel sign Sh10.5bn deal to acquire yuMobile assets
"Essar... today announced the signing of binding agreements with
Safaricom and Airtel for sale of its telecom business in Kenya for
approximately $120 million (Sh10.5 billion)," a statement by Essar
Telecommunications Kenya Ltd said.
In the deal expected to be concluded in the last quarter of this year,
Safaricom will take over yuMobile's network, IT and office
infrastructure while Airtel will acquire the company's subscribers.
.@Safaricomltd share price data here [within 1.52% of an all closing
high of 13.15 reached in April this year]
Par Value: 0.05/-
Closing Price: 12.95
Total Shares Issued: 40044601000.00
Market Capitalization: 518,577,582,950
First Half Earnings for the Period ended 30 September 2013
FY Revenue 144.67b versus 124.29b +16.4%
FY Voice Revenue 86.3b versus 77.33b +11.6%
FY Messaging Revenue 13.62b versus 10.15b +34.19%
FY Mobile Data Revenue 9.31b versus 6.62b +40.63%
FY Fixed Service Revenue 2.57b versus 2.11b +21.8%
FY M-Pesa Revenue 26.56b versus 21.84b +21.61%
FY Direct Costs [51.96b] versus [[47.17b] +10.15%
FY EBITDA 60.94b versus 49.24b
FY PAT 23.02b versus 17.54b +31.24%
FY EPS 0.57 versus 0.44 +29.55%
FY Dividend 0.47 versus 0.31 +51.61%
Dividend Yield 3.65%
Free Cash Flow 22.69b versus 14.51b
.@KenolKobil Kenya to Focus on Existing Business as It Pays Debts
KenolKobil Ltd. wants to focus on existing ventures rather than buying
companies as the Kenyan fuel retailer with operations in nine African
countries reduces debt, Managing Director David Ohana said.
"We are currently concentrating on building our business in Burundi
and Rwanda, where returns on investment have been disproportionately
high," he said in an Aug. 27 interview in Nairobi, the capital. "We
are growing without making too much noise, quietly increasing our
network in countries where returns are clear. We have no plans to
KenolKobil has opened 20 service stations in Burundi over the past
year, taking the total there to 34, while in Rwanda, it now has 56
facilities, compared with 38 in 2013, he said. Ohana didn't say what
the returns are. Kenya, which has attracted explorers including
France's Total SA and Tullow Oil Plc, is headed to become the first
oil exporter in East Africa when it starts shipments as early as 2016.
The Nairobi-based company returned to profit last year by slashing
costs and reducing its workforce by 41 percent. Kenya's biggest fuel
retailer by market value is paying down borrowings, with its gearing,
or level of debt relative to equity, dropping to 62 percent by the end
of June from 67 percent six months earlier, it said on Aug. 20. Ohana,
AGE?, said in April the company wants to be debt-free by the end of
"We are heading there," he said. "It's a process to get debt-free. We
have done a lot in this regard and more will happen in the second
KenolKobil in 2013 ceded its position as Kenya's second-biggest
retailer of petroleum products by sales to Vivo Energy, a Royal Dutch
Shell Plc joint venture with Vitol Group, according to the Petroleum
Institute of East Africa's website. Total Kenya Ltd. is the largest.
"We want to a market leader in profitability not in volumes sold," said Ohana.
.@KenolKobil share price data and First Half Earnings release here
Par Value: 0.50/-
Closing Price: 8.40
Total Shares Issued: 1471761200.00
Market Capitalization: 12,362,794,080
First Half Earnings through 30th June 2014 versus through June 2013
First Half 2014 Net Sales 43.181308b versus 65.274760b -33.846%
First Half Cost of Sales [40.236593b] versus [62.583407b]
First Half Gross Profit 2.944715b versus 2.691353b
First Half Other Income 383.696m versus 277.735m +38.151%
First Half Administration and Operating Expenses [917.261m] versus
First Half Profit before Income Tax 795.182m versus 199.086m +299.416%
First Half Profit after Tax 531.168m versus 147.364m +260.44%
Closing Cash and cash equivalents 6.647130b versus 1.104285b
Kenya Shilling versus The Dollar Live ForexPros 88.473
Nairobi All Share Bloomberg +15.5799% 2014 [Record High]
157.94 +0.85 +0.54%
Nairobi ^NSE20 Bloomberg +4.323% 2014 [more than 5 Year Highs]
5,139.39 +50.23 +0.99%
Every Listed Share can be interrogated here
The Nairobi All Share Index rallied 0.747% to set a record closing
High for the 6th consecutive session which is a real red hot streak
any which way you care to cut it.
The Nairobi All Share is +16.443% in 2014.
The Nairobi NSe20 Index which reached a more than 60 month high friday
firmed 1.53 points to close at 5140.92.
The Shilling was last trading at 88.545 and inside 31 month lows of
88.90 seen last week and just before a heavy duty Intervention by the
Central Bank estimated to have been between $30m-$50m.
The Inflation Rate spiked to 8.36 percent in the year to August from
7.67 percent in the previous month but I think this might mark the
Apogee for the Inflation rate this year.
equity turnover clocked 459.204m and The Buyers outpaced Sellers by a
Factor of 2 versus 1 in many stocks.
Nairobi is running with the Bulls
N.S.E Equities - Commercial & Services
Safaricom surged 1.54% to close at a record high of 13.15, a record
previously reached in April this Year. Safaricom traded a session high
of 13.30 +2.702%. Safaricom is +21.198% in 2014 and announcd that ''on
29th August 2014 [it] entered into various agreements with essar
telecom for the purchase of various assets of essar but not limited to
the right of use certain frequency spectrum currently used by essar,
essar's base transmission station towers and certain passive
infrastructure on such towers and various IT equipment.''
Longhorn Kenya retreated 5.96% to close at 15.00 on heavy volume of
1.066m shares worth 16.012m. Todays Trading volume represented 1.82%
of the Publisher's shares and hence a material position. Longhorn
Kenya is +11.11% in 2014.
Standard Group was high ticked 9.38% to close at 35.00 on just 100
shares. Standard Group is +34.61% in 2014.
N.S.E Equities - Finance & Investment
Equity Bank rallied 2.67% to close at 48.00 and in fact was traded
shares at session highs of 49.50 +5.88% during the session. equity
Bank traded 1.036m shares and there were 2 Buyers for cry one Seller
at the finish. equity Bank has rallied +56.097% in 2014 and is within
a whisker and less than 1% of a record closing high set in early July
Kenya Commercial Bank firmed 0.87% to clos at 58.00 and traded 400,700
shares. KCB traded shares at a session high of 59.00 +2.608%. KCB is
+22.75% in 2014 and is just 0.857% below a record high of 58.50
reached on the 5th of last month.
Transcentury was the most actively traded share at the Securities
exchange and eased 2.33% to close at 21.00 and traded 6.314m shares
[2.304% of its shares] worth 132.6m. Transcentury reported 30.08%
slide in First Half Revenues and a First Half Loss after Tax
[1.630828b] versus 380.620m. The decline in net earnings was
attributed to the fair value loss on the disposal of the entire 34%
shareholding in KU Railways Holdings limited, the lead Investor in
Rift Valley Railways to Africa Railways limited on 31st March 2014.
Transcentury has retreated 26.956% in 2014.
Centum corrected 4.63% off an all tim closing high to close at 51.50
and traded 198,400 shares as Some sought to book gains that totalled
+63.63% through this morning.
Kenya Re rallied +5.965% to close at 18.65 and traded 42,100 shares.
N.S.E Equities - Industrial & Allied
Eabl traded 2nd at the exchange and firmed 0.722% to close at 279.00
and was trading at Intra Day Highs of 283.00 +2.17% at the Finish
Line. There were 2 Buyers for every Seller at the finish line as
Buyers looked to pick up stock at 3 month Lows. eabl is oversold and
the bounce has further to run. eabl traded 260,200 shares.
BAT rallied 2.405% to close at a fresh record closing high of 809.00
and traded 33,900 shares worth 27.442m. BAT has rallied 34.83%
excluding the Full Year Dividend. Rolling in the dividend pay out and
BAT has posted a +40.416% return so far in 2014.