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Satchu's Rich Wrap-Up
 
 
Wednesday 18th of January 2017
 
Morning
Africa

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President Obama @POTUS To the girl from the South Side who took on a role she didn't ask for and made it her own: Happy Birthday, Michelle. I love you.
Africa


Everything can change at any moment, suddenly and forever. You can't put your feet on the ground until you've touched the sky. There's hope for everyone. That's what makes the world go round. Paul Auster

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Why are flights taking LONGER now than they were in the 1970s?
Africa


“The truth of the story lies in the details.” ― Paul Auster, The Brooklyn
Follies

“In the end, each life is no more than the  sum of contingent facts, a
chronicle of chance intersections, of flukes, of random events that divulge
nothing but their own  lack of purpose.” ― Paul Auster

“I walk around the world like a ghost, and sometimes I question whether I
even exist. Whether I've ever existed at all.” ― Paul Auster, Travels in
the Scriptorium

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25-AUG-2014 The signal announcing this new arrhythmic normal was the disappearance of #MH370
Law & Politics


Picking up the signal through the noise of our world in 2014 is no easy
thing. In fact, my view is the new normal is a very arrhythmic world. When
I plugged ‘’arrhythmia’’ into my computer, it threw up this;

‘’For years he’d been studying the phenomenon of chaos, of which an
arrhythmic heartbeat was a perfect example’’

His excellency Johan Borgstam told me the signal announcing this new
arrhythmic normal was the disappearance of the MH370. Since then planes
have been falling out of the sky like flies. And the uncertainty around
MH370 and MH17 which is sharpened by the way the story is seemingly turned
on and off took me back to Don Delillo

‘’”We are not witnessing the flow of information so much as pure spectacle,
or information made sacred, ritually unreadable. The small monitors of the
office, home and car become a kind of idolatry here, where crowds might
gather in astonishment.’’

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Putin Says Doesn't Believe Trump Met Prostitutes in Russia
Law & Politics


Russian President Vladimir Putin said he doesn’t believe that U.S.
President-elect Donald Trump met with prostitutes in Russia, calling the
accusations part of a campaign to undermine the election result.

*Unsubstantiated allegations made against Trump are “obvious fabrications,”
Putin told reporters in the Kremlin on Tuesday*. *“People who order fakes
of the type now circulating against the U.S. president-elect, who concoct
them and use them in a political battle, are worse than prostitutes because
they don’t have any moral boundaries at all,” he said*.

Putin said that Trump wasn’t a politician when he visited Moscow in the
past and Russian officials weren’t aware that he held any political
ambitions. It’s “complete nonsense” to believe that Russian security
services “chase after every American billionaire,” he said.

The Kremlin has denied that it holds any compromising material on Trump
after U.S. intelligence officials informed the president-elect about
unsubstantiated reports that Russia had compiled potentially damaging
personal information on him.

Trump said it was “disgraceful” that intelligence agencies had allowed
“fake” information out, comparing this to the actions of Nazi Germany.

The U.S. tycoon-turned-politician was last in Moscow in 2013 for the
staging of the Miss Universe contest that he owned. He hoped unsuccessfully
to meet Putin, tweeting in June that year about the possibility the Russian
leader would attend the beauty pageant.

*Trump is “a grown man, and secondly he’s someone who has been involved
with beauty contests for many years and has met the most beautiful women in
the world,” Putin said. “I find it hard to believe that he rushed to some
hotel to meet girls of loose morals, although ours are undoubtedly the best
in the world.”*

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Putin's revenge Twenty-five years after the demise of the Soviet Union, Russia is consumed by an insatiable desire for recognition as the equal of the USA.
Law & Politics


.This is what Putin’s personal adviser Vladislav Surkov has termed
“non-linear war”.

It is no secret that, in this vein, Moscow used cyber-power in an attempt
to mould American opinion during the 2016 presidential election campaign.
For all the media hype about hacked computer systems and leaked emails, the
Kremlin’s information warfare is not that innovative. After all, the
underlying concepts and most of the techniques were developed by the USSR
(and equally by the United States) to interfere in other countries’
internal affairs during the Cold War. Let’s not forget that the young Mr
Putin was schooled in KGB Dresden.

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05-DEC-2016 :: Putin's Parabolic Rebound
Law & Politics


He checks in with his flight-dynamics and conceptual- paradigm officers at
Colorado Command:
“We have a deviate, Tomahawk.”
“We copy.  There’s a voice.”
“We have gross oscillation here.”

He is right, traditional media has been disrupted and the insurgents can
broadcast live and over the top. From feeding the hot-house conspiracy
frenzy on line (‘’a constant state of destabilised perception’’), timely
and judicious doses of Wikileaks leaks which drained Hillary’s bona fides
and her turn-out and motivated Trump’s, what we have witnessed is something
remarkable and noteworthy.

Putin has proven himself an information master, and his adversaries are his
information victims.

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05-OCT-2015 :: Putin is a GeoPolitical GrandMaster @TheStarKenya
Law & Politics


Within 24 hours of delivering that speech, Russia instructed that the US
should vacate Syrian Air Space. This message was not delivered to Ashton
Carter by his Russian counterpart Shoigu.

It was delivered to the US Embassy in Baghdad. And pretty soon after that
message was delivered, Russia began its intervention on the side of
President Bashar Assad of Syria.

You could hear the squealing start immediately from Ankara to Riyadh, from
the GCC to Washington. All these capitals have assets on the ground in
Syria, and what is clear is that Russia is not making a distinction between
IS or the ‘’moderate opposition fighting Assad’’ [which really means
‘’our’’ terrorists].

Lavrov said: “If it looks like a terrorist, if it acts like a terrorist, if
it walks like a terrorist, if it fights like a terrorist, it’s a terrorist,
right?”

Putin fancies himself the fly-catcher and syria the fly-trap. The speed of
execution confirms that Russia is once again a geopolitical actor that will
have to be considered. It is a breath-taking rebound.

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Alternate theory-Populism: it's all about the hair. #wef17 @ianbremmer
Law & Politics


@RadioChio I just watched @SNL again and realized @AlecBaldwin as
#DonaldTrump was wearing a Russian flag pin. 🇷🇺

https://twitter.com/RadioChio/status/821258647271456769

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The old adage goes 'if you've got nothing to hide, you have nothing to fear' Amnesty
Law & Politics


The old adage goes ‘if you’ve got nothing to hide, you have nothing to
fear’, but a detailed analysis of the human rights cost of the
fast-expanding security state in Europe suggests otherwise.

Surveillance states

Many EU countries have joined the ranks of “surveillance states”, adopting
new laws allowing indiscriminate mass surveillance that grant intrusive
powers to security and intelligence services.

Mass surveillance powers have been granted or otherwise expanded in the UK,
France, Germany, Poland, Hungary, Austria, Belgium the Netherlands, among
others. Such powers permit the mass interception of - and possible access
to - data of millions of people.

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Trump: Dollar Is "Too Strong" And "It's Killing Us" Barrons
Africa


In an interview with the Wall Street Journal, US President-elect Donald
Trump broke the tradition of presidents refraining from commenting on the
U.S. dollar’s level and went directly into it.

The Journal reported:

Mr. Trump said the U.S. dollar was already “too strong” in part because
China holds down its currency, the yuan. “Our companies can’t compete with
them now because our currency is too strong. And it’s killing us.”*

The yuan is “dropping like a rock,” Mr. Trump said, dismissing recent
Chinese actions to support it as done simply “because they don’t want us to
get angry.”

Conclusions


Triggered sharpened profit-taking in the Dollar. 

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Trump's 'Open-Mouth Operations' Make Twitter Key for FX Traders
International Trade


Traders in the $5.1 trillion-a-day foreign-exchange market should put
Donald Trump’s Twitter account at the top of their daily reading list.

That’s the advice of David Woo, a foreign-exchange, rates and
emerging-market strategist in New York at Bank of America Corp., who
expects the president-elect will use tweets with increasing frequency for
his jawboning on the value of the dollar. The currency tumbled 1.2 percent
Tuesday after Trump said the greenback is too strong and “it’s killing us”
in an interview with the Wall Street Journal.

“I’m telling everybody to get a Twitter account,” Woo said in an interview
on Bloomberg Television. “It would not surprise me over the course of the
next month, you get strong U.S. data, dollar goes up 3 percent and three
days later, the president of the United States is going to be tweeting at
three o’clock in the morning saying guess what, the dollar’s now overvalued
by 5.1 percent, and the dollar’s going to dump.”

The Bloomberg Dollar Spot Index, which measures the greenback against 10
major peers, has fallen for the last three three weeks as traders
questioned the sustainability of some of the most popular wagers on Wall
Street since Trump’s election victory, including bullish dollar bets. The
currency had rallied to a 14-year high against the euro earlier this month
on speculation that the president-elect’s spending pledges will fuel
inflation and prompt the Fed to tighten monetary policy.

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.0692
Dollar Index 100.53
Japan Yen 113.14
Swiss Franc 1.0030
Pound 1.2338
Aussie 0.7549
India Rupee 67.935
South Korea Won 1164.61
Brazil Real 3.2112
Egypt Pound 18.7000
South Africa Rand 13.4824

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12-DEC-2016 make no mistake its in the departure lounge
Africa


make no mistake its in the departure lounge and the open question is will
it leave first class, coach or be placed in shackles and placed at the back
of the plane like our People are when they are sent back from Europe
because they have entered illegally

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12-DEC-2016 "After the Arab Spring, this is the Black Spring".
Africa


In 2014, I recall a certain Martin Aglo, who on the occasion of the
termination of Beautiful Blaise Campaore in the streets of Ouagadougou,
told Reuters: “After the Arab Spring, this is the Black Spring”.

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US eases sanctions against Sudan, citing humanitarian improvements
Africa


The US government has eased sanctions against Sudan, in a step towards
normalising relations with a designated terrorism sponsor whose leader has
been indicted on war crimes charges.

he moves come amid a general shift of alliances and diplomatic priorities
in east Africa, as major world and regional powers seek influence in an
unstable but important part of the continent.

“This is definitely a geopolitical decision. It is not about values,
democracy and human rights,” said Ahmed Soliman, an expert in East Africa
at Chatham House, the London thinktank.

President Omar al-Bashir, who took power in a military coup in 1989, faces
genocide charges at the international criminal court.

However, the veteran leader has has been welcomed by leaders across Africa
and there have been intensifying contacts between Khartoum and the European
Union too, prompted largely by concerns over immigration.

The order signed by Barack Obama in the last days of his administration
will allow US firms to trade in Sudan.

“Treasury’s sanctions are aimed at encouraging a change in behaviour, and
in the case of Sudan, our sanctions were intended to pressure the
Government of Sudan to change the way it treats its people,” said Adam J
Szubin, acting under secretary for terrorism and financial intelligence, in
a statement.

Magnus Taylor, a Nairobi-based analyst at the International Crisis Group,
said many international powers had long wanted to work with Sudan but
internal conflicts there had stymied hopes of improved relations.
“On the migration issue in particular, the international community now
wants to work with Sudan and it is felt that isolation has not helped come
up with solutions,” Taylor said.

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Carlyle to buy Africa's leading rating agency
Africa


US buyout group Carlyle has agreed to buy Africa’s largest rating agency by
customers in a bet on future growth in the continent’s capital markets.

The acquisition of Global Credit Ratings (GCR), which rates more credits in
Africa than global rivals Fitch, Moody’s and Standard & Poor’s, shows how
private equity funds are seeking to capitalise on the need for banks and
insurers to understand the credit risk of local counterparties.

Local credit ratings have already become a lucrative market for agencies in
India as its capital markets have opened to midsized companies in addition
to big corporate issuers of debt. Dealmakers are betting on a similar trend
in Africa.

Even so, it is a rare pan-African financial acquisition by a buyout group,
with GCR operating in 20 countries including South Africa, Nigeria, Kenya
and Zambia with more than 400 clients.

Terms of the acquisition of the Johannesburg- and Lagos-based rating
agency, made by the sub-Saharan African buyout fund raised by Carlyle in
2014, have not been disclosed.

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Dubai's @abraajgroup Is Interested in Buying @Barclays @BarclaysAfrica Unit
Africa


“It’s a very fine bank run by a very fine management team, and if the
opportunity were to re-present itself, we would certainly be one of those
that would be at the table,” Naqvi said in an interview at the World
Economic Forum in Davos on Tuesday. The two companies aren’t currently in
talks, he said.

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Nigeria's air force killed at least 52 people and injured 120 in an air strike on a refugee camp in the country's northeast on Tuesday
Africa


Nigeria's air force killed at least 52 people and injured 120 in an air
strike on a refugee camp in the country's northeast on Tuesday, a spokesman
from Medecins Sans Frontieres (MSF) said after the military earlier
disclosed the strike was meant to target Boko Haram militants.

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How Was the Okavango Delta Formed?
Africa


Now have a look at a satellite image of the Okavango Delta: an 18 000
square kilometre wetland wilderness teeming with wildlife miraculously
appearing in a vast dry sand basin in landlocked northern Botswana.

You have to stop and wonder: this is odd? How did this happen?

The short answer: The Okavango Delta is a fluke of nature.

The entire wetland was born as a tiny trickle in the remote highlands of
Angola.

The trickle is nothing special. If you came across it while wading through
the thick miombo bush, you might comment about how nice it is to see a
stream, and move onto something more interesting.

But this dribble is the humble beginning of an epic 1000-kilometre river
journey through three African countries. From its source in the Angolan
highlands, the trickle joins forces with other small tributaries, creating
a bigger river called the Cuito. The Cuito continues south towards Namibia,
gaining speed and size as the Cubango River joins in too.

Eventually, it all culminates in the mighty Okavango River.

RT allanolingo: SOUTH SUDAN President Salva Kiir sacks Central Bank
Governor Kornelio Mayik as inflation hits 800%

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Kenya set for higher titanium royalties as global prices double @BD_Africa
Kenyan Economy


Base Resources Limited, which mines the titanium ore in Kwale, said
yesterday the improved price signals better prospects for the country in
terms of royalty fees.

In 2015, the firm paid royalties amounting to Sh260.7 million and this is
expected to rise as operations increase in 2017.

“Royalties are paid based on sales and the improved market conditions for
ilmenite will be good news for Kenya as it means there will be more
royalties from the revenues we make from the sales,” said Base Titanium
external affairs manager Simon Wall.

The Australian mining firm in an operational update said it had hit a new
production high of three million tonnes between September and December 2016.

The Kwale-based miner exports ilmenite, which is an ore of titanium
(titanium-iron oxide) that is used in the manufacture of paints, plastics,
paper, sunscreen, cosmetics and fabric pigmentation.

The firm projects increased demand for the product with further rise in
prices as it continues to secure forward sales currently stretching to next
month.

The mineral which was trading at a low of Sh6,000 per tonne ($60) in June
now retails at about Sh14,000 per tonne ($140), an more than 130 per cent
growth. Kenya exports most of its ilmenite to China.

Base, which produced 117,000 metric tonnes of the product in the last
quarter of the year has an annual average of about 450,000 metric tonnes.

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Kenya's stock exchange is the world's worst performer so far this year @business
Kenyan Economy


Kenyan stock prices at more than three-year lows may have further to fall
with domestic investors favoring bonds and foreign buyers waiting for lower
valuations, the head of the bourse said.

Shares on the Nairobi Securities Exchange have dropped 6.9 percent since
Jan. 1, extending last year’s 8.5 percent drop, because of jitters among
investors about elections scheduled for August. The yield on Kenya’s
benchmark 10-year bond has fallen almost 200 basis points to 14.02 percent
on Tuesday from a high of 16 percent in February, according to data
compiled by Bloomberg.

“Because of issues around volatility in the markets, most pension schemes
over the past two years have lost value in their equity holdings so they
want to play a bit safer,” NSE Chief Executive Officer Geoffrey Odundo said
in an interview Monday at his office in the capital. “Interest rates have
historically given them a better performance so that is why they are
willing to buy government paper.”

Kenya’s stock exchange is the world’s worst performer so far this year,
with the decline dragging valuations to the weakest since 2009, when
Bloomberg began compiling the data.

The recent decline may present a buying opportunity for investors,
particularly “liquid stocks” including Safaricom Ltd., East Africa’s
biggest mobile-phone company, and East African Breweries Ltd., the region’s
largest brewer, and KCB Group, the No. 1 bank by assets, Exotix Partners
said in an e-mailed note on Monday.

“We see it bottoming at some point,” Odundo said. “Foreigners are waiting
for better prices and are picking stocks at fairly low prices and this has
dragged the index downwards, especially given that when the stocks that
really drive volume -- which is the telcos and the banking sector -- fall,
they drag the index down,” Odundo said.

The NSE issued a profit warning last year when it said full-year earnings
will drop at least 25 percent. Odundo said the warning was the result of
“difficult” markets last year, while predicting a turnaround in 2017 as the
exchange brings new products online.

“‘We are going to get derivatives; we are looking at new products around
exchange-traded funds, global depository receipts,” he said. “A lot of
focus around new product will create new feel around the stock market and
make our markets more attractive to international investors given the kind
of products we are bringing on board.”

The NSE said in October it’s evaluating “several” ETF applications and
plans to introduce a derivatives market, without providing a timeframe.

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