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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
Looking forward to #Mindspeak this Saturday at the @SankaraNairobi from 0930 am.
We will be hosting @stpaulsplc The Founder Richard Britten-Long and
Key Officers from the same
@stpaulsplc is a UK-focused property company invests primarily in UK government & quasi-government occupied properties
.@stpaulsplc PORTFOLIO STRATEGY long and short lease AAA-rated
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.@stpaulsplc niche opportunity in-between traditional institutional
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The long lease assets are known as the Platform properties @stpaulsplc
''short lease assets are known and the Opportunistic properties''
@stpaulsplc targets properties let on Full Repairing and Insuring
leases to UK Government
@stpaulsplc properties Full Repairing and Insuring leases to the UK
Gvt or UK Gvt guaranteed covenant
@stpaulsplc also looks at quasi-government tenants such as doctor’s surgeries
Currency Hedging portfolio of properties held by @stpaulsplc provide
an income stream in hard currency
Arthur Koestler Darkness at Noon
“Some of the greatest discoveries...consist mainly in the clearing
away of psychological roadblocks which obstruct the approach to
reality; which is why,post factum they appear so obvious.”
The monolith pictured is the most emblematic of the desert's gigantic
rock formations. A perfect combination of altitude, dry air, and a
lack of light pollution means the Atacama is one of the best
stargazing locations on earth. Cloudless skies April through September
is a peak period to appreciate the stars, as well as Jupiter and
Saturn. You won’t even need a telescope to see the breathtaking light
show above. Darker skies are best, so avoid visiting during a full
moon. (Still, that spectacle is beautiful in itself.)
A King in His Castle: How Donald Trump Lives, From His Longtime Butler The New York Times @nytimes
Law & Politics
Everything seemed to sparkle at the Mar-a-Lago estate here on a recent
afternoon. The sun glinted off the pool and the black Secret Service
S.U.V.s in the circular driveway. Palm trees rustled in a warm breeze,
croquet balls clicked and a security guard stood at the entrance to
Donald J. Trump’s private living quarters.
“You can always tell when the king is here,” Mr. Trump’s longtime
butler here, Anthony Senecal, said of the master of the house and
Republican presidential candidate.
He understands Mr. Trump’s sleeping patterns and how he likes his
steak (“It would rock on the plate, it was so well done”), and how Mr.
Trump insists — despite the hair salon on the premises — on doing his
Mr. Senecal knows how to stroke his ego and lift his spirits, like the
time years ago he received an urgent warning from Mr. Trump’s
soon-to-land plane that the mogul was in a sour mood. Mr. Senecal
quickly hired a bugler to play “Hail to the Chief” as Mr. Trump
stepped out of his limousine to enter Mar-a-Lago.
Mr. Trump is abundantly proud of his ability to drive a golf ball,
once asking rhetorically during a news conference: “Do I hit it long?
Is Trump strong?”
Mr. Senecal suggested that Mr. Trump was perhaps not quite as strong
as he imagined, remembering times they would hit balls together from
the Mar-a-Lago property into the Intracoastal Waterway.
“Tony, how far is that?” Mr. Trump would ask.
“It’s like 275 yards,” Mr. Senecal would respond, though he said the
actual distance was 225 yards.
He Came, He Saw, He Withdrew From Syria Foreign Policy
Law & Politics
Putin is now exiting Syria as quietly as he entered it.
A second unofficial reason for Putin’s foray into Syria was the
opportunity to demonstrate Russia’s restored military might. In fact,
one of the main goals of the mission was to test new weaponry under
combat conditions, a source in the Russian General Staff told the
Kommersant newspaper Tuesday. Kalibr cruise missiles launched from
warships in the Caspian Sea were fired at targets almost 1,000 miles
away in Syria on Oct. 7, Putin’s birthday. The tactical purpose was
dubious — cruise missiles are typically used to penetrate air defenses
that the Syrian rebels could only dream of getting their hands on.
Nevertheless, the use of the missiles did make U.S. military planners
perk up. Sorties flown by long-range strategic bombers based in Russia
had a similar effect.
Campari's Deal Comes With Chaser: Villa on French Riviera
Davide Campari-Milano SpA is getting more than a popular liqueur brand
with its acquisition of Grand Marnier Group. The Italian distiller
also takes ownership of a historic villa in a French coastal town
that’s reputed to have the most expensive residential real estate in
The Marnier-Lapostolle family that controls Grand Marnier has owned
Villa les Cedres in Saint Jean Cap Ferrat since the 1920s. The
property, surrounded by a 14-hectare (34.6-acre) botanical garden, is
on a peninsula that juts into the Mediterranean between Nice and
Monaco. The neighbors include Microsoft Corp. co-founder Paul Allen,
OAO Lukoil executive Leonid Fedun, the Ferrero family of Nutella fame
and Curt Engelhorn, the great grandson of the founder of German
chemical company BASF SE, according to media reports.
Campari said it plans to sell the property and share the proceeds with
Grand Marnier shareholders. Buyers may be hard to come by in a market
where, according to the French finance magazine Capital, properties
can fetch more than 200,000 euros ($220,000) a square meter. Russian
tycoons bid up prices in recent years, but those buyers have
disappeared amid the Russian economic slump and the plunge in oil
prices, said Alexandra Connolly, who runs a real-estate agency in the
“It’s without a doubt the most expensive place on the French Riviera
and it’s probably one of the most expensive places in the world,” she
said in a phone interview. “Now we’ve had 10 years of people coming in
and just paying more and more and more and more and more, and now, if
the Russians aren’t there, there’s no real clientele that will come in
and can or want to pay those prices.”
The villa might fetch at least 200 million euros and possibly as much
as 350 million euros in a sale, but estimates are difficult given the
economic situation, Connolly said.
Al-Qaeda Africa affiliate reasserts threat with Ivory Coast attack @FT
“We are seeing AQIM able to carry out attacks even in countries in
west Africa that have not been at the forefront of terrorist
activity,” said Virginia Comolli, an expert on security issues at the
International Institute for Strategic Studies. “They are sending a
message to the west that we are still targeting you and that you’re
still our enemy.”
“It’s been three years since terrorist groups in Mali emerged,”
General Pingrenoma Zagre, Burkina Faso’s army chief of staff, told the
Financial Times last month. Since then, security in the Sahel and in
Libya had badly deteriorated, he said, and “the menace of terrorism”
in west Africa had only grown.
Exploiting Disorder: al-Qaeda and the Islamic State ICG
The past quarter-century has seen waves of jihadist violence: a first
in the early 1990s, when volunteers from the anti-Soviet jihad in
Afghanistan joined insurrections elsewhere; a second pioneered by
al-Qaeda culminating in the 9/11 attacks; and a third sparked by the
U.S. invasion of Iraq. Today’s fourth wave is the most perilous yet.
Partly this is thanks to IS’s territorial control and ideological
innovation – its tapping of both local Sunni and wider
anti-establishment discontent. Mostly, though, it is dangerous because
of the currents propelling it, particularly the Middle East’s upheaval
and fraying state-society relations there and elsewhere. World
leaders’ concern is well-founded: IS’s attacks kill their citizens and
threaten their societies’ cohesion. They face enormous pressure to
act. But they must do so prudently. Missteps – whether careless
military action abroad; crackdowns at home; subordinating aid to
counter-radicalisation; casting the net too wide; or ignoring severer
threats in a rush to fight “violent extremism” – risk aggravating
those deeper currents and again playing into jihadists’ hands.
Tough times for democracy in Zambia Deutsche Welle
Zambia's president Edgar Lungu seems anxious and according to several
observers, he is no longer able to hide it. Elections are set for
August 11, 2016 and last year Lungu won by a slight margin when he
took office to replace his deceased predecessor Michael Sata. In the
presidential by-election of January 2015, Lungu (Patriotic Front, PF)
beat his challenger Hakainde Hichilema (United Party for National
Development , UPND) by only 1.6 percent.
Just five months ahead of the elections, the opposition feels muzzled.
Last Thursday (11.03.2016) UPND vice president, Geoffrey Mwamba
pleaded not guilty to training youths in the use of arms without the
president's permission. Mwamba was also temporarily detained for
allegedly having threatened "to go for [the president's] throat".
That's according to the police.
Angola, facing economic and political pressures, has cut spending under its 2016 budget by 20% wsj
Angola, facing economic and political pressures, has cut spending
under its 2016 budget by 20% and is reassuring international investors
it can cope with persistently low oil prices, Finance Minister Armando
Manuel said Monday.
Mr. Manuel said the surprise announcement Friday by President José
Eduardo dos Santos to step down in 2018 shouldn’t concern the
country’s foreign investors, and is part of “a normal process.” Mr.
dos Santos has governed the Atlantic coast nation since 1979 and
didn’t lay out a succession plan for the next leader of his party.
Angola is expected to hold its next presidential election in 2017.
“We are not talking about changes in regime itself, we are talking
succession of one person. It’s a democratic country and this is what
we expect,” Mr. Manuel said in an interview after speaking at a London
conference Monday. He said the ruling party, the MPLA, would handle
Mr. Manuel declined to comment on speculation that Mr. dos Santos
could push for his son, José Filomeno de Sousa dos Santos, the head of
Angola’s sovereign-wealth fund, or his daughter, business magnate
Isabel dos Santos, to take over.
Along with other oil-dependent African nations, Angola has been rocked
by the sharp fall in oil prices and a shrinking supply of dollars to
pay for imports. Around 80% of the country’s revenue and nearly all of
its export earnings come from crude-oil sales. Earlier this month,
Moody’s Investors Service put the country’s credit rating on review
for downgrade, saying the structural shock in oil markets had
decreased Angola’s economic and financial strength. The country in
recent years has relied heavily on Chinese investment, typically in
exchange for oil shipments, for public-spending projects that include
After having projected a $45 a barrel oil price in its 2016 budget,
Angola has already moved to reduce spending by 20% and is currently
projecting a $39-a-barrel oil price for the rest of the year under its
latest plans, Mr. Manuel said. He said the budget could be cut further
if necessary by June. “We are ready to make the required adjustments.”
So far, that has included paring what Mr. Manuel said had been “an
ambitious portfolio of public investment.” To save money, Angola has
gotten rid of most fuel subsidies and is reforming its tax system to
raise more revenue, he said. The country is also trying to diversify
away from its reliance on oil by investing in sectors such as fish
farming and agriculture.
The finance minister said Angola won’t tap international investors for
a new Eurobond this year, after having brought its debut issue last
year for $1.5 billion. The country will meet with investors later this
year, though, in a non-deal roadshow, as “a way to keep in touch with
the investor community and let them know the policies we are putting
in place,” Mr. Manuel said.
Amid concerns that Angola’s oil-backed debt with China could balloon
out of control, Mr. Manuel said a likely recovery in the oil price
would diminish those liabilities. “In regards to the debt portfolio,
we don’t have pressures on the short term,” Mr. Manuel said.
“Currently we can manage the actual structure of the debt service.
It’s pretty comfortable,” he said.
“It was disgraceful conduct.”
SCA ruled on Tuesday that the failure to arrest Bashir was unlawful
and dismissed the government’s appeal.
South Africa is a signatory of the Hague-based ICC, which wants Bashir
arrested for alleged war crimes related to the conflict in the Darfur
region of Sudan.
The South African currency tumbled as much as 3.4 percent to breach the 16 level for the first time since Feb. 29 and was the worst performer among 31 emerging-market and major currencies trading against the dollar.
Gordhan’s dispute with the police special unit, known as the Hawks,
comes at a time of heightened vulnerability for the South African
economy, with the government attempting to ward off a credit rating
downgrade to junk. Tuesday’s sharp slump in the rand increases the
pressures of imported inflation and may force the hand of central bank
policymakers who meet Thursday to decide whether to increase interest
rates as annual growth falters to less than 1 percent.
“If it results in the removal of the finance minister it speaks to
even further institutional erosion in South Africa,” Mohammed Nalla,
head of strategic research at Nedbank Group Ltd., said by phone from
Johannesburg. “That’s what international investors are absolutely
Yields on the benchmark rand-denominated government bond jumped 32
basis points, the most since Dec. 11, to 9.46 percent, while rates on
the nation’s dollar-denominated debt due September 2025 rose 12 basis
points to 5.29 percent.
The Hawks said Tuesday Gordhan missed two deadlines to respond to
questions about an investigative tax unit, called the National
Research Group, set up when he ran the tax authority and which local
newspapers said probed politicians, including President Jacob Zuma. On
Monday, Gordhan said he hadn’t been notified of the second deadline
and accused the Hawks of harassing him.
“It seems that the political atmosphere is increasingly toxic at a
time when Gordhan is making attempts to restore confidence amongst
foreign investors after it was completely shattered by the finance
ministry debacle in December.”
Barclays CEO Staley Says He's Cut 6,000 Jobs in First 100 Days Business
Jes Staley said he’s eliminated more than 6,000 positions in his first
100 days in charge of Barclays Plc, after the new chief executive
officer shrank the investment bank and exited countries from Brazil to
“We’ve now reduced the headcount by well-north of 6,000 people, so
double what was done in the last four years in the first four months,”
Staley, 59, said Tuesday at the Morgan Stanley Financials Conference
in London. “On the day that I arrived at Barclays, we imposed a
Congo Opposition to Hold Protest Over Jailing of Youth Activists
“What Lucha is pioneering is something new in terms of activism in the
Congo,” said Jason Stearns, a senior fellow at the New York-based
Center on International Cooperation. “They are ready to confront the
government and to go to prison, and they are using this is as a
tactic. The fact that the government sees Lucha as such a threat is
indication of their success.”
Tanzania’s Magufuli pushes for quick start to Uganda oil pipeline as
Kenya tries to salvage deal
Total’s Vice President for East Africa, Javier Rielo, “assured
President John Magufuli that the company will begin construction of
the crude-oil pipeline project from Uganda to the Tanga port as
quickly as possible because there is money for the project,” the
presidency said Monday in an e-mailed statement.
A Total spokesman declined to comment on today’s meeting. He referred
to a December statement in which France’s oil major expressed its
preference for a pipeline transporting crude through Tanzania, based
on cost, reliability and safety assumptions for the infrastructure.
The 1,410-kilometer (876-mile) pipeline will cost as much as $4
billion and employ 1,500 people directly, according to the statement.
Magufuli announced March 2 that Uganda had agreed to the deal for the
facility, which will connect Uganda’s Lake Albertine oil fields to a
port in Tanga, Tanzania.
IMF Executive Board Approves New Arrangements for Kenya Totaling US$1.5 billion Press Release No. 16/110 March 14, 2016
The Executive Board of the International Monetary Fund (IMF) today
approved a new SDR 709.259 million (about US$989.8 million) 24-month
Stand-By Arrangement (SBA) and a SDR 354.629 million (about US$494.9
million) 24-month Standby Credit Facility (SCF) for Kenya, for a
combined SDR 1.06 billion (about US$1.5 billion, or 196 percent of
The Executive Board also completed the second and final reviews under
the previous SBA and SCF for Kenya. The SBA and SCF, initially for 12
months, with a combined total access of SDR 488.52 million (about
US$688 million), were approved by the IMF’s Executive Board on
February 2, 2015 (see Press Release No. 15/29), and extended until
March 15, 2016 on January 27, 2016.
The Kenyan authorities have indicated that they will continue to treat
both arrangements as precautionary, and do not intend to draw on the
new SBA and SCF arrangements unless exogenous shocks lead to an actual
balance of payments need. Today’s decision would make available SDR
542.8 million (about US$757.5 million), and the remainder in four
tranches upon completion of semi-annual program reviews.
Following the Executive Board discussion on Kenya, Mr. Min Zhu, Deputy
Managing Director and Acting Chair, said:
“Kenya’s recent growth performance remains robust and the outlook is
positive. Despite positive policy steps undertaken under the current
Fund-supported program, the economy remains vulnerable to shocks,
reflecting less favorable global financial market conditions, as well
as continued security threats and potential extreme weather events. In
this context, the new precautionary arrangements would provide a
policy anchor for continued macroeconomic and institutional reform,
and would help mitigate the impact of potential exogenous shocks if
they were to materialise.
“The envisaged reduction of the fiscal deficit by 3 percent of GDP
over the next two years through a well-balanced policy mix would
maintain space for high-priority infrastructure investments and
greater provision of health and education services in a sustainable
manner. Continued public financial management reforms—aimed at
upgrading efficiency, transparency and accountability, to complement
the envisaged fiscal consolidation—are key to containing risks.
“The Central Bank of Kenya is committed to gradually reducing
inflation to the mid-point of its target range (5+/- 2.5 percent). To
achieve their inflation objective, the authorities will align the
interbank rates with the policy rate and formally announce and
implement an interest corridor, thereby strengthening the monetary
policy transmission mechanisms in the context of a floating exchange
“The authorities are taking actions to preserve financial stability.
These include steps to strengthen micro and macro prudential stress
testing and the capital adequacy assessment framework, and develop a
legal and operational crisis management system.
“Continued improvement in the quality of macroeconomic statistics and
strengthening the business climate will be key to promoting
transparency and evidence-based policy making, and supporting
Nairobi All Share Bloomberg -0.59% 2016
144.84 -0.42 -0.29%
Nairobi ^NSE20 Bloomberg -2.96% 2016
3,921.10 -32.03 -0.81%
Every Listed Share can be interrogated here
Kenya’s Vicious War Against Its Youth Foreign Policy
NAIROBI — One day in 2014, university students Felix Nyangena and
Dennis Magomere, 21 and 22 years old respectively, were walking from
the Globe Cinema roundabout in Nairobi’s central business district to
the nearby offices of the Higher Education Loans Board, a government
agency that oversees financial disbursements to students. The Globe
Cinema roundabout is one of the Kenyan capital’s busiest bus
terminals, and during the day it can be among the most densely
populated parts of the city. There, in the gentle light of the
still-rising sun, Nyangena and Magomere were gunned down by two
plainclothes police officers attached to the city’s anti-mugging unit.
Nyangena did not die immediately. So the officer stood over his body
and fired twice more, killing the young man in broad daylight. The
officer then calmly wiped his fingerprints off the gun, planted it on
the young man’s body, and made a call — presumably to report a
We know all of this because unlike many other extrajudicial killings
by police and security officials in Kenya, Nyangena and Magomere’s
murder was captured on video. The crisp, high-quality footage of the
crime, taken on a witness’s mobile phone, is the centerpiece of a
recent documentary by noted Kenyan journalist Mohammed Ali on the
epidemic of extrajudicial killings and forced disappearances by
security services. And perhaps as a result of both the video and the
documentary, Kenya’s public prosecutor has announced that for the
first time in recent memory, his office will charge a police officer
for the unlawful killing of a civilian.
Killing Kenya People & Power investigates allegations that Kenya’s
police are involved in extra judicial killings Aljazeera