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Tuesday 08th of March 2016 |
Morning Africa |
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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
I attended and was part of a Panel Discussion this morning - Kenya Country Economic Memorandum @WorldBankKenya |
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The Sports Economy and Wadi Degla @TheStarKenya Africa |
''Sport has the power to change the world. It has the power to inspire. It has the power to unite people in a way that little else does. It speaks to youth in a language they understand. Sport can create hope where once there was only despair. It is more powerful than government in breaking down racial barriers’’ - Nelson Mandela
Macro Thoughts
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A US air strike has killed more than 150 al-Shabab militants in Somalia, the Pentagon says. Law & Politics |
Spokesman Captain Jeff Davis said the strike hit a training camp where a "large-scale" attack was being planned.
"We know they were going to be departing the camp and they posed an imminent threat to US and [African Union] forces," Captain Davis said.
"Initial assessments are that more than 150 terrorist fighters were eliminated," he added.
Mr Davis said the strike, by both drones and manned aircraft, took place on Saturday and targeted Raso Camp, a training facility about 120 miles (195km) north of the capital, Mogadishu.
Conclusions
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EU Nears Deal on Migrant Cap as Turkey Raises Its Asking Price Law & Politics |
European Union leaders edged toward an agreement with Turkey to halt the inflow of migrants, with the Turkish government jacking up the price for serving as the EU’s defensive barrier.
Turkish Prime Minister Ahmet Davutoglu caught EU leaders off-balance with a plea for last-minute concessions at a Brussels summit, calling on the bloc to double its financial aid to Turkey to 6 billion euros ($6.6 billion). Turkey paired that request with its most serious offer yet to stop the traffic of refugees across the Aegean Sea into Europe, hinting at a possible breakthrough as soon as the next summit on March 17-18.
Conclusions
Turkey unlocked the Door and this remains on Target for 10x versus 2015.
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Brent crude has broken above $39 per barrel for the first time this year, as the oil rally rolls into another week. Commodities |
Brent is climbing for the sixth consecutive day, its longest winning streak in four months. This morning, the international benchmark has risen 2 per cent to a three-month high of $39.50 per barrel, writes Joel Lewin.
WTI, the US benchmark, has climbed as much as 2.2 per cent to $36.72, its highest level since the first trading day of the year.
Brent has surged more than 40 per cent from its January low, as the number of rigs drilling for oil in the US has dropped to a post-crisis low, and fears over slowing global growth have moderated.
Shares in oil groups have also rebounded sharply.
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Ore with 62 percent content delivered to Qingdao jumped 19 percent to $63.74 a dry metric ton, Metal Bulletin Ltd. data show. Commodities |
That’s the biggest gain in daily data going back to 2009 and the highest price since June. The surge was preceded in Asia by a rally in futures, with the most-active contract on Singapore Exchange Ltd. climbing 21 percent to $60 and prices on the Dalian Commodity Exchange rising by the daily limit.
“The iron ore and steel markets have gone berserk -- they’ve departed from fundamentals and are heavily driven by sentiment,” Zhao Chaoyue, an analyst at China Merchants Futures Co. in Shenzhen, said before the Metal Bulletin price was published. “Investors are expecting further monetary easing by the Chinese government to boost steel demand.”
Emerging Markets
Frontier Markets
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The Election No One Is Talking About Africa |
On March 20, citizens of the Republic of Congo will vote in the country's next presidential election. But, this election can hardly be called democratic in an increasingly authoritarian nation. While there are ten opposition candidates, there is little doubt that incumbent President Sassou Nguesso will assume power for a third term.
The media and U.S. government have been virtually silent regarding these early elections, originally expected to occur in July 2016. However, if history has taught us anything, the media and the U.S. government should have their eyes on the Republic of Congo to prevent an election marred by fraud and violence.
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Nigerian Manufacturers Lobby Central Bank for Weekly Dollar Sale Africa |
The Manufacturers’ Association of Nigeria, which has about 2,700 members, proposed weekly auctions of dollars to manufacturing businesses at a meeting with central bank Governor Godwin Emefiele in Abuja, the capital, during the week of Feb. 22, according to Ali Madugu, a vice president at the lobby group.
“We’re calling for the central bank to start giving to us directly, hand-to-hand, rather than through the banks,” Madugu, who is also managing director of Kano-based Dala Foods Ltd., a food processor, said in an interview in the northern Nigerian city on March 3. “Some of our member companies will run out of raw materials next month. Without restocking, what will happen? Thousands of jobs are on the line.”
The central bank stopped weekly auctions to non-bank money-changers in January in a bid to save its foreign reserves. Those have fallen 10 percent to $27.8 billion in the past year as Brent crude prices have declined one-third to about $39 a barrel.
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Fastjet warns on full-year results Africa |
Fastjet Plc warned that results for the year would be materially below market expectations, adding pressure to the African budget airline whose second-largest investor is seeking the ouster of Chief Executive Ed Winter.
The company said it no longer expected to be cash flow positive in 2016, citing challenging conditions in the domestic aviation market.
Fastjet shares fell as much as 45 percent to a record low of 36.04 pence on Monday morning in London.
Last week, Stelios Haji-Ioannou, whose private investment vehicle easyGroup has a 12 percent stake in Fastjet, called on shareholders to back his bid to immediately remove CEO Winter.
Haji-Ioannou said Winter had created significant overheads for the company, resulting in a high cost base that was disproportionate to its six aircraft fleet.
The budget carrier said in December that it was taking steps to manage its operating costs and overheads, after issuing its second warning on full-year 2015 revenue.
Fastjet had $20 million of cash available at the end of February, the company said, adding that it believed that these funds would be enough to meet its operational requirements.
Fastjet may consider raising further funds during the year to fund future growth as market conditions improve, it said.
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Tripoli, a Tense and Listless City With Gunmen and a Well-Stocked Hugo Boss Outlet New York Times Africa |
TRIPOLI, Libya — Cracking open the giant church door, the Nigerian watchman cast a wary eye over the deserted street.
It was Sunday morning in Tripoli’s old city, but only a trickle of worshipers was expected at the 19th-century Anglican church, which towered over the curling alleyways. The congregation is made up mostly of African migrants, said Oke, the watchman. But now they stay away, fearing arrest by the predatory militias that prowl the streets of the capital.
So the migrants lie low, waiting for the calm seas of summer and the chance of a boat to Europe. Oke is waiting, too — headed to London, he said, insisting somewhat improbably that he intended to apply for a visa.
“I’ll make it this year,” he said. “Or maybe next. I hope.”
Everyone seems to be waiting for something in Tripoli, a tense and listless city caught in the maw of Libya’s strange war. As conflict rages elsewhere in the country — in the ravaged eastern city of Benghazi, or Surt, where the Islamic State exerts its brutal grip — a precarious order holds in the capital. Smugglers lurk in the port; migrants lie in wait; heavily armed militias and squabbling politicians, nominally allied, quietly vie for control.
In a cobblestone plaza, under an Ottoman clock tower, men lounge in the sun with the paraphernalia of cafe culture: croissants, cellphones, cigarettes and paper cups of nus-nus, a silky coffee drink with a dash of milk and cream. In the best shopping areas, near the old Italian buildings, there are gyms and pizza parlors and gleaming outlets for European fashion brands. Not many war zones can boast Benetton or Marks & Spencer or, as Tripoli does, a well-stocked Boss outlet.
“It’s become like America, a land of opportunity — for kidnappers,” said Mohanned el Mahjoub, a chatty 30-year-old militia commander, as we sped through Tripoli one night in his hulking four-wheel-drive Jeep.
Conclusions
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Equity Group reports FY PAT 2015 +1.024% Earnings here Kenyan Economy |
Par Value: 0.50/- Closing Price: 42.50 Total Shares Issued: 3702777020.00 Market Capitalization: 157,368,023,350 EPS: 4.59 PE: 9.259
FY Investment securities 42.775489b vs. 48.369008b -11.564%% FY Loans and advances to customers 269.892942b vs. 214.170424b +26.018% FY Customer deposits 302.168588b vs. 245.383135b +23.142% FY Loans and advances income 37.909498b vs. 30.999140b +22.292% FY Customer deposit expense [6.898327b] vs. [4.666626b] +47.823% FY Total interest expense [17.147978b] vs. [11.527020b] +48.763% FY Net interest income 34.123565b vs. 29.174637b +16.963% FY Other fees & commission income 11.147606b vs. 8.84154b +26.082% FY Foreign exchange trading income 2.946453b vs. 2.344899b +25.654% FY Total operating income 56.062624b vs. 47.648679b +17.658% FY Staff costs [10.291398b] vs. [10.775752b] -4.495% FY Other operating expenses [13.111215b] vs. [9.168403b] +43.004% FY Profit before tax and exceptional items 23.957689b vs. 21.300196b +12.476% FY Profit after tax and exceptional items 17.327000b vs. 17.151365b +1.024% Gains/ [losses] from translating the financial statements of foreign operations [5.752592b] vs. 0.136631b EPS 4.59 vs. 4.63 -0.864% Dividend per share 2.00 vs. 1.80 +11.111% Total Non performing loans and advances 7.327662b vs. 7.349608b -0.299% Liquidity ratio 33.2% vs. 39.6% -6.400%
Conclusions
FY Other operating expenses [13.111215b] vs. [9.168403b] +43.004% crimped Earnings
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