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Satchu's Rich Wrap-Up
Friday 30th of June 2017

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Macro Thoughts

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The dollar is trading at the lowest level in nine months, having erased the so-called Trump bump

The dollar is trading at the lowest level in nine months, having
erased the so-called Trump bump and then some, as currencies including
the euro, pound and loonie surge on expectations of tightening
monetary policy. That’s helped to push yields on foreign debt higher
on a relative basis, making it even tougher on dollar bulls.

“All of this means that the dollar gets less support from U.S.
interest rates,” said Kit Juckes, a strategist at Societe Generale SA.
“A stronger dollar needs higher yields than it did before, because the
rest of the world is moving.”

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Global Stocks Survive as Best Major Asset Class of Year

Global stocks enter the second half of the year ahead of all major
asset classes, with the MSCI All-Country World Index wrapping up its
best first half in 19 years. Coming in a close second: the euro, which
has climbed on bets the European Central Bank is preparing to unwind
stimulus. Oil, meanwhile, entered its first bear market since August
amid an oversupply of crude.

Home Thoughts

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You are an insignificant speck of dust in the universe @LAReviewofBooks

“We come spinning out of nothingness, scattering stars like dust.” ―
Jalaluddin Rumi

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As You enter the Mausoleum in Konya this is written

“Come, come, whoever you are. Wanderer, worshiper, lover of leaving.
It doesn't matter. Ours is not a caravan of despair. come, even if you
have broken your vows a thousand times. Come, yet again , come ,
come.” ― Jalaluddin Rumi

I have visited Mosques, temples, Churches, I sang hymns in Westminster
Abbey but that welcome blew me away and still does.

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We visited Konya one evening and then we watched a Sema in the basement of the mausoleum.

We came out in the early evening and we were plain intoxicated in the
light of a Full Moon.

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My Favourite Robert Frank Photograph remains

Jack Kerouac described this Photograph as follows

In his introduction to The Americans, Kerouac describes this
photograph as "a long shot of night road arrowing forlorn into
immensities and flat of impossible-to-believe America in New Mexico
under the prisoner's moon."

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Goodmorning from Hells gate N.Park #DiscoverKWSParks

“There is a lot of warmth in an old cognac, a lot of sun. It will go
to one's head calmly, without hurry” ― Ryszard Kapuściński

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Zoom Pavilion

Zoom Pavilion is an interactive installation that consists of
immersive projection on three walls, fed by 12 computerized
surveillance systems trained on the public. The piece uses face
recognition algorithms to detect the presence of participants and
record their spatial relationship within the exhibition space. Zoom
Pavilion is at once an experimental platform for self-representation
and a giant microscope to connect the public to each other and track
their assembly. Independent robotic cameras zoom in to amplify the
images of the public with up to 35x magnification: the zooming
sequences are disorienting as they change the entire image “landscape”
from easily recognizable wide shots of the crowd to abstract
close-ups. The whole installation is in a fluid state of camera
movement, highlighting different participants and creating a
constantly changing animation based on optical amplification and

Zoom Pavilion marks the first collaboration between artists Rafael
Lozano-Hemmer and Krzysztof Wodiczko. It was originally conceived for
the Architecture Biennale in Beijing but only realized for
Lozano-Hemmer’s current solo exhibition in Mexico City’s MUAC Museum.
These artists' practice often involves transformation of an existing
built environment using projection technologies to “augment” the site
with alternative histories, connections or public relationships. The
term “projection mapping” is now used often to describe techniques
that Wodiczko was already deploying over 30 years ago. Meanwhile
Lozano-Hemmer’s contribution to the field in the past 20 years has
been to develop ways to make mapped projections interactive with the
general public. This piece emphasizes the temporary construction of
connective space in relation to predatory technologies of detection
and control.

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Why your real age may be older - or younger - than your years New Scientist

AGE is a peculiar concept. We tend to think of it as the number of
birthdays we have celebrated – our chronological age. But this is just
one indicator of the passage of time. We also have a biological age, a
measure of how quickly the cells in our body are deteriorating
compared with the general population. And these two figures don’t
always match up.

Just take a look around: we all know people who look young for their
age, or folks who seem prematurely wizened. Even in an individual,
different parts of the body can age at different speeds. By examining
how chronological age lines up with biological age across the
population, researchers are starting to pin down how these two
measures should sync up – and what it means for how long we have left
when they don’t.

In recent years, studies have shown that our biological age is often a
more reliable indicator of future health than our actual age. It could
help us identify or even prevent disease by tracking the pace at which
we’re getting older. It may even allow us to slow – or reverse – the
ageing process.

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China builds new military facilities on South China Sea islands - think tank @ReutersUK
Law & Politics

China has built new military facilities on islands in the South China
Sea, a U.S. think tank reported on Thursday, a move that could raise
tensions with Washington, which has accused Beijing of militarising
the vital waterway.

The Asia Maritime Transparency Initiative (AMTI), part of Washington's
Center for Strategic and International Studies, said new satellite
images show missile shelters and radar and communications facilities
being built on the Fiery Cross, Mischief and Subi Reefs in the Spratly

The United States has criticized China's build-up of military
facilities on the artificial islands and is concerned they could be
used to restrict free movement through the South China Sea, an
important trade route.

Last month, a U.S. Navy warship sailed within 12 nautical miles of
Mischief Reef in a so-called freedom of navigation operation, the
first such challenge to Beijing's claim to most of the waterway since
U.S. President Donald Trump took office.

China has denied U.S. charges that it is militarising the sea, which
also is claimed by Brunei, Malaysia, the Philippines, Taiwan and

President Trump's tweets from yesterday

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DEAD ON ARRIVAL Philippine police use hospitals to hide drug war killings
Law & Politics

Since late 2016, police have delivered hundreds of drug suspects to
Manila hospitals. A Reuters investigation has revealed almost all were
dead on arrival. Witnesses and family members say they were executed
and their bodies removed from the scene in a police cover up.

MANILA – The residents of Old Balara hid in their homes when gunfire
erupted in their Manila district last September. They didn't see the
police operation that killed seven drug suspects that night.

But they witnessed the gory aftermath and it haunts them still.

That night, Herlina Alim said she watched police haul away the men's
bodies, leaving trails of blood. “They were dragged down the alley
like pigs,” she said. Her neighbor Lenlen Magano said she saw three
bodies, face down and motionless, piled at the end of the alley while
police stood calmly by.

It was at least an hour, according to residents, before the victims
were thrown into a truck and taken to hospital in what a police report
said was a bid to save their lives. Old Balara’s chief, the elected
head of the district, told Reuters he was perplexed. They were already
dead, Allan Franza said, so why take them to hospital?

An analysis of crime data from two of Metro Manila’s five police
districts and interviews with doctors, law enforcement officials and
victims’ families point to one answer: Police were sending corpses to
hospitals to destroy evidence at crime scenes and hide the fact that
they were executing drug suspects.

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Can the Qatar Crisis Be Resolved? New Yorker
Law & Politics

The country is one of those small, oil-rich nations that looks like a
bank waiting to be robbed by invaders or coup makers

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Currency Markets at a Glance WSJ
World Currencies

Euro 1.1421
Dollar Index 95.59
Japan Yen 112.03
Swiss Franc 0.9568
Pound 1.3008
Aussie 0.7674
India Rupee 64.765
South Korea Won 1143.83
Brazil Real 3.3043
Egypt Pound 18.12
South Africa Rand 13.0441

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The price of raw avocado just hit an all time high @zerohedge

Among other thing, the record high price has been blamed on soaring
demand as American per-capita consumption jumped to 6.9 pounds in
2015, versus 3.5 pounds in 2006, according to government data. People
are being drawn to the fruit not just for its taste but also for its
healthy oils and fats, a trend borne out in the U.S. by Starbucks
Corp.’s announcement last month it’s selling avocado sandwich spread.

“You have increased consumption in China and other areas of the world,
like Europe,” said Roland Fumasi, an analyst at Rabobank in Fresno,
California. “They’re pulling a lot more of the Mexican crop, so
there’s less available for the U.S.”

As Bloomberg reported in April, Mexico supplies 82 percent of the
avocados eaten north of the border. Its shipments into the U.S. surged
to 1.76 billion pounds in 2015 from just 24 million pounds in 2000,
according to data from the Hass Avocado Board in Mission Viejo,
California. As a result, in late April a 10-kilogram (22-pound) box of
Hass avocados from the state of Michoacan, Mexico’s biggest producer,
cost 530 pesos ($27.89). The price was more than double what it was a
year earlier and the highest in data going back 19 years.

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"We must change the lenses with which we look at Africa from the traditional development mindset to an investment mindset" @akin_adesina @AfDB_Group

“American companies come to Africa bringing their notebooks, while the
Chinese companies come to the continent with their checkbooks,”
Adesina said in his keynote address in which he urged a reversal in
the sharp drop in Africa’s exports to the United States since 2014 and
encouraged American firms “to take a closer look at the opportunities
Africa has to offer.”

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"I regret that, for reasons of health, I cannot this year address to you my message in the usual manner." KABILA

Kabila was due to address the nation on Thursday on the eve of
independence day. Instead, scrolling text on screen attributed to
Kabila read: "I regret that, for reasons of health, I cannot this year
address to you my message in the usual manner."

An adviser to Kabila told Reuters earlier the government would not
hold its annual independence day military parade on Friday because of
security concerns.

In the capital Kinshasa, unknown assailants with firearms and machetes
attacked a prison.

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06-JUN-2016 "The revolutionary contingent attains its ideal form not in the place of production, but in the street"

Paul Virilio and his extraordinary book – Speed and Politics. “The
revolutionary contingent attains its ideal form not in the place of
production, but in the street, where for a moment it stops being a cog
in the technical machine and itself becomes a motor (machine of
attack), in other words a producer of speed.’

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NGOs file Rwanda genocide lawsuit against French bank BNP Paribas @AFP

Paris (AFP) - Three non-governmental associations said Thursday that
they had filed a lawsuit against BNP Paribas accusing the bank of
"complicity" in the 1994 genocide of the Tutsi minority in Rwanda.

The groups accuse the French bank of financing the purchase of "80
tonnes of arms used to carry out genocide" by the Hutu regime, even
though "the bank had to have known the genocidal intentions of the
country's authorities."

BNP authorised the transfer of $1.3 million (1.1 million euros at
current rates) to the regime in June 1994, one month after the United
Nations had placed an embargo on weapons deliveries to Rwanda, the
groups said in a statement.

They accuse the bank of "complicity in genocide, war crimes and crimes
against humanity".

A spokesman for the bank told AFP it could not comment on the claims,
saying it did not yet have "sufficient details".

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South Africa All Share Bloomberg +1.39% 2017

Dollar versus Rand 6 Month Chart INO 13.0441


Egypt Pound versus The Dollar 3 Month Chart INO 18.1200


Nigeria All Share Bloomberg +23.80% 2017


Ghana Stock Exchange Composite Index Bloomberg +15.55% 2017


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The $727 million Eurobond, due in Jan. 2023, has rallied from a low of 55 cents on the dollar in mid-January to 73 cents

The $727 million Eurobond, due in Jan. 2023, has rallied from a low of
55 cents on the dollar in mid-January to 73 cents. Sentiment toward
the country has improved thanks to a 19 percent rise in the metical
against the dollar this year, making Mozambique’s foreign debts
cheaper to service, and an increase in coal exports. Investors said
they were also encouraged by an Eni SpA-led consortium signing off on
a $7 billion gas project last month.

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12-DEC-2016 The demographic bulge is now arriving at voting age. This is that moment, its importance cannot be gainsaid
Kenyan Economy

The big picture point is in fact a demographic one. Many commentators
define the African population surge as a ‘’dividend’’ but what is
clear is that if it is allowed a Free and Fair vote its going be a
Terminator for a whole number of regimes. The demographic bulge is now
arriving at voting age. This is that moment, its importance cannot be

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Kenya Shilling versus The Dollar Live ForexPros 103.70
Kenyan Economy

Nairobi All Share Bloomberg +14.91% 2017 [-1.504% since 27th June]


153.22 -1.10 -0.71%

27-JUN-2017 :: However, stock market’s investors are increasingly
looking as if they are looking to take some chips off the table and
book some gains.


Nairobi ^NSE20 Bloomberg +12.88% 2017 [has corrected 27.27 points
since 23rd June]


3,596.56 -12.65 -0.35%

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Olympia Capital Holdings Ltd reports FY EPS +150.00% Earnings here
Kenyan Economy

Par Value:                  5/-
Closing Price:           2.45
Total Shares Issued:          40000000.00
Market Capitalization:        98,000,000
EPS:             0.65
PE:                3.769

FY Revenue 537.774m vs. 528.263m +1.800%
FY Cost of sales [335.354m] vs. [328.481m] +2.092%
FY Gross profit 202.420m vs. 199.782m +1.320%
FY Other operating income 45.403m vs. 29.753m +52.600%
FY Operating expenses [170.423m] vs. [186.430m] -8.586%
FY Operating [Loss]/ profit 77.400m vs. 43.105m +79.562%
FY [Loss]/ profit before taxation 50.136m vs. 27.281m +83.776%
FY [Loss]/ profit for the year 38.927m vs. 14.834m +162.417%
Basic EPS 0.65 vs. 0.26 +150.000%
Total Assets 1.613368b vs. 1.606659b +0.418%
Total Equity 1.265740b vs. 1.226403b +3.208%
Cash and cash equivalents 64.477m vs. 78.482m -17.845%


Its an esoteric stock.

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by Aly Khan Satchu (www.rich.co.ke)
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June 2017

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