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Satchu's Rich Wrap-Up
 
 
Thursday 03rd of November 2016
 
Morning
Africa

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Normal Board - The Whole shebang
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The Latest Daily PodCast can be found here on the Front Page of the site
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U.S. Embassy in Seoul wrote a cable in 2007 released by WikiLeaks that Park's opponents characterized Choi Tae-min as "Korean Rasputin."
Law & Politics


“Rumors are rife that the late pastor had complete control over Park’s
body and soul during her formative years and that his children
accumulated enormous wealth as a result,” it said.

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.1109
Dollar Index 97.19
Japan Yen 102.76
Swiss Franc 0.9708
Pound 1.2330
Aussie 0.7669
India Rupee 66.695
South Korea Won 1139.30
Brazil Real 3.2526
Egypt Pound 8.8806
South Africa Rand 13.4351

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Commodity Markets at a Glance WSJ
Commodities


Gold 6 month INO 1299.04 [If Trump wins gold will be at 1,400]

http://quotes.ino.com/charting/index.html?s=FOREX_XAUUSDO&t=c&a=50&w=1&v=d6

$50 fading fast. Brent crude oil -12% in the last two weeks, U.S.
crude -13%. Jamie McGeever ‏

https://twitter.com/ReutersJamie/status/793825218724782080

US crude #oil stocks rose last week 14.4 million barrels -- the
biggest weekly increase since at least 1982 Javier Blas ‏

https://twitter.com/JavierBlas2/status/793829739374968839

Emerging Markets

Frontier Markets

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South Africa's rand hits more than 2-month highs on release of Gupta report
Africa


At 1320 GMT, the rand traded at 13.36000 per dollar, 1.8 percent
firmer from its New York close on Tuesday and trading at its firmest
level since Aug. 18, according to Thomson Reuters data.

"It's an indication that the country still enjoys institutional
strength and that's a definite plus for investors," ETM Analytics
economist Jana van Deventer said.

Conclusions

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Dollar versus Rand 6 Month Chart INO 13.5163 [Gordhan bounce]
Africa


Egypt EGX30 Bloomberg +21.68% 2016

http://www.bloomberg.com/quote/CASE:IND

Nigeria All Share Bloomberg -4.95% 2016

http://www.bloomberg.com/quote/NGSEINDX:IND

Ghana Stock Exchange Composite Index Bloomberg -14.12% 2016

http://www.bloomberg.com/quote/GGSECI:IND

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Mozambique Overtakes Venezuela as World's Riskiest Nation: Chart BBG
Africa


Mozambique has overtaken Venezuela as the world’s riskiest issuer of
dollar-denominated bonds. The southern African country told investors
on Oct. 24 it needed to restructure its commercial debt, sending
yields on its 2023 Eurobonds soaring about 900 basis points to 24.5
percent. Holders of the securities have lost 24 cents in the dollar.

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31-OCT-2016 ::Mozambique from Boom to Bust - A Cautionary Tale @TheStarKenya
Africa


We visited in 2012 and I recall the wife being seriously astonished
when we jumped in a taxi and the driver turned out to be Portuguese.

I said ‘’Mozambique could be the next Qatar.’’ as we stuffed ourselves
with wonderfully flavour some tiger prawns.

31-OCT-2016 @Africa_Conf reported that Chancellor Angela Merkel asked
President Nyusi when he met her in Berlin on 19 April 2016, ‘Where is
the money?’ and also, ‘Are you in charge?’
http://www.rich.co.ke/media/docs/PX_014NSX3110.pdf

31-OCT-2016 Finance Minister Adriano Maleiane told investors Oct 25
that the country was in “debt distress”
http://www.rich.co.ke/media/docs/PX_014NSX3110.pdf

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29-AUG-2016 . I called this a "Schumpeter moment" for banking a little while ago. @thestarkenya
Kenyan Economy


According to Schumpeter, the “gale of creative destruction” describes
the “process of industrial mutation that incessantly revolutionises
the economic structure from within, incessantly destroying the old
one, incessantly creating a new one”.  ‘’a gale of creative
destruction’’ blew through the banking sector.

read more


Uchumi results release delayed over change of auditors @BD_Africa
Kenyan Economy


KPMG took over from Ernst & Young this year amid accusations by the
current management that Uchumi’s former top managers manipulated last
year’s financial statements.
CMA says it has given the retailer room to clear up its issues and
release the results as required by the law

read more



Naivas to spend Sh470m on expansion, buys Nakuru rival
Kenyan Economy


The company recently acquired Nakuru-based Rihab Supermarket for an
estimated Sh70 million and is set to spend the remaining Sh400 million
in opening new stores in Thika, Kericho and Nairobi’s Utawala, Kiambu
Road, Kawangware and Moutain View by February next year.

Conclusions

Naivas playing offence whilst others are playing defence and even on the ropes

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Kenya Shilling versus The Dollar Live ForexPros
Kenyan Economy


Nairobi All Share Bloomberg -5.072% 2016

http://www.BLOOMBERG.COM/quote/NSEASI:IND

Nairobi ^NSE20 Bloomberg -19.89% 2016

http://j.mp/ajuMHJ

3,237.08 +9.84 +0.30%

Every Listed Share can be interrogated here

http://www.rich.co.ke/rcdata/nsestocks.php

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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November 2016
 
 
 
 
 
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