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Wednesday 06th of December 2017
 
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Macro Thoughts

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Jerusalem
Africa


Jerusalem (/dʒəˈruːsələm/; Hebrew: יְרוּשָׁלַיִם‎ About this sound
Yerushalayim [jeruʃaˈlajim]; Arabic: القُدس‎ is a city in the Middle
East
https://en.wikipedia.org/wiki/Jerusalem

One of the oldest cities in the world, Jerusalem was named as
"Urusalima" on ancient Mesopotamian cuneiform tablets, probably
meaning "City of Shalem" after a Canaanite deity, during the early
Canaanite period (approximately 2400 BCE). During the Israelite
period, significant construction activity in Jerusalem began in the
9th century BCE (Iron Age II), and in the 8th century the city
developed into the religious and administrative center of the Kingdom
of Judah.[7] It is considered a holy city in the three major Abrahamic
religions of Judaism, Christianity and Islam.

During its long history, Jerusalem has been destroyed at least twice,
besieged 23 times, attacked 52 times, and captured and recaptured 44
times.[8] The part of Jerusalem called the City of David was settled
in the 4th millennium BCE.[9] In 1538, walls were built around
Jerusalem under Suleiman the Magnificent. Today those walls define the
Old City, which has been traditionally divided into four
quarters—known since the early 19th century as the Armenian,
Christian, Jewish, and Muslim Quarters.[10] The Old City became a
World Heritage Site in 1981, and is on the List of World Heritage in
Danger.[11] Modern Jerusalem has grown far beyond the Old City's
boundaries.

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"No president up to now has wanted to risk it because there is no upside to doing it"
Africa


“Mr. Trump, Jerusalem is a red line for Muslims,” Erdogan said in a
speech at parliament in Ankara on Tuesday. “This could lead us to
break off our diplomatic relations with Israel.”

Abbas warned Trump that moving the embassy would imperil his effort to
restart peace talks, which has been led by his son-in-law Jared
Kushner and his Mideast envoy Jason Greenblatt.

The Saudis on Tuesday called the expected move “unjustified” U.S. bias
that disrupts efforts to revive peace talks, and cautioned it could
have “grave consequences.”

French President Emmanuel Macron told Trump on Monday that the
prospect of a unilateral declaration concerned him, and also
reiterated that the city’s status must be resolved through peace
talks.

On Sunday, White House National Security Adviser H.R. McMaster told
Fox News he didn’t know whether Trump would move the embassy, though
he did say doing so could be used to create momentum to broker an
agreement.

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Jerusalem WILLIAM BLAKE
Africa


And did those feet in ancient time
Walk upon Englands mountains green:
And was the holy Lamb of God,
On Englands pleasant pastures seen!

And did the Countenance Divine,
Shine forth upon our clouded hills?
And was Jerusalem builded here,
Among these dark Satanic Mills?

Bring me my Bow of burning gold:
Bring me my arrows of desire:
Bring me my Spear: O clouds unfold!
Bring me my Chariot of fire!

I will not cease from Mental Fight,
Nor shall my sword sleep in my hand:
Till we have built Jerusalem,
In Englands green & pleasant Land.

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In Jerusalem BY MAHMOUD DARWISH
Africa


In Jerusalem, and I mean within the ancient walls,
I walk from one epoch to another without a memory
to guide me. The prophets over there are sharing
the history of the holy ... ascending to heaven
and returning less discouraged and melancholy, because love
and peace are holy and are coming to town.
I was walking down a slope and thinking to myself: How
do the narrators disagree over what light said about a stone?
Is it from a dimly lit stone that wars flare up?
I walk in my sleep. I stare in my sleep. I see
no one behind me. I see no one ahead of me.
All this light is for me. I walk. I become lighter. I fly
then I become another. Transfigured. Words
sprout like grass from Isaiah’s messenger
mouth: “If you don’t believe you won’t be safe.”
I walk as if I were another. And my wound a white
biblical rose. And my hands like two doves
on the cross hovering and carrying the earth.
I don’t walk, I fly, I become another,
transfigured. No place and no time. So who am I?
I am no I in ascension’s presence. But I
think to myself: Alone, the prophet Muhammad
spoke classical Arabic. “And then what?”
Then what? A woman soldier shouted:
Is that you again? Didn’t I kill you?
I said: You killed me ... and I forgot, like you, to die.

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President Donald Trump to recognize Jerusalem as the capital of Israel in speech - senior administration officials
Law & Politics


Conclusions

This is a politically cynical [in the sense that the Palestinians have
been ground into the dust and are powerless] decision but its waving a
Red Flag and there comes a point when People who believe they have
nothing left to lose......

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U.S. B-1B bombers will join exercise in South Korea, Yonhap reports @business
Law & Politics


Conclusions

The Chatter appears to be inclining towards a pre-emptive strike.

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18-SEP-2017 "A screaming comes across the sky" North Korea
Law & Politics


In particular, it features the quest undertaken by several characters
to uncover the secret of a mysterious device named the “Schwarzgerät”
(black device), slated to be installed in a rocket with the serial
number “00000”. As the world watches PyongYang, I cannot help
wondering if Kim Jong-Un has read Pynchon which speaks of “A screaming
comes across the sky” and North Korea.

“But it is a curve each of them feels, unmistakably. It is the
parabola.  They must have guessed, once or twice -guessed and refused
to believe -that everything, always, collectively, had been moving
toward that purified shape latent in the sky, that shape of no
surprise, no second chance, no return.’’

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Saleh famously likened leading Yemen to "dancing on the heads of snakes" ALI SOUFAN
Law & Politics


Saleh famously likened leading Yemen to “dancing on the heads of
snakes,” and indeed, his career resembled an intricate ballet in which
it was never quite clear where the dancer would put his feet next.

Outwardly reserved, inwardly shrewd, he worked all the angles: Saudis
and Iranians, Sunni militants and Zaydi Houthis, the United States and
Russia, the United Arab Emirates and the Muslim Brotherhood.
Ultimately, it was this flip-flopping that sealed his fate.

All indications are that the Houthis fully expected Saleh to turn on
them, and had long prepared for that eventuality; their rallying cry
as they moved into Sana’a was “Vengeance for Hussein al-Houthi”—a
reference to their former leader, killed on Saleh’s orders 13 years
ago. The dancer stumbled, and the snake gobbled him up.

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.@DeutscheBank AG has received a subpoena from special prosecutor Robert Mueller over its dealings with President Donald Trump
Law & Politics


Mueller has demanded that Germany’s largest lender share data on its
client relationship with Trump, according to a person briefed on the
matter. The subpoena, received several weeks ago, obliges the bank to
submit documents detailing its business with Trump and his family,
said the person, who asked not to be identified because the action has
not been announced publicly. Deutsche Bank declined to comment.

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07-AUG-2017 :: Any financial expert will tell you that President Trump's financial affairs are a "smoking gun."
Law & Politics


Deutsche Bank loans were surely ‘’mirror’’ transactions, where
Deutsche Bank was a commission agent interposed between Trump and the
real lender.

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French president Emmanuel Macron's approval rate surges 6 points to 50%, poll shows @business
Law & Politics


“This is a historical wave,” Frederic Dabi, head of Ifop opinion
polls, told Paris Match. While his predecessors Francois Hollande and
Nicolas Sarkozy, who both faced very low approval ratings, enjoyed
major surges during their terms of office, none was able to regain
popularity and pass back over the 50 percent level, Dabi said.

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04-DEC-2017 There are many African Leaders who have relied on the laurels of their colonial struggle but they are exiting stage left
Law & Politics


There are many African Leaders who have relied on the laurels of their
colonial struggle but they are exiting stage left and at speed-Mugabe
and Dos Santos refer. Macron is helping to turn the page.

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By @ProfTomPlate "Xi Jinping is not making history - history is making Him" @hofrench
Law & Politics


They are the ones that are truly eternal, as is China. As for its
current president, he is only of this moment, just like the rest of
us. Keeping that in mind can keep us humble.

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27-NOV-2017 :: Bitcoin "Wow! What a Ride!" @TheStarKenya
International Trade


Bitcoin Milestone Update: $12,000 for the first time ever. It entered
the year below $1,000, up 1,140% YTD

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.1840
Dollar Index 93.28
Japan Yen 112.24
Swiss Franc 0.9870
Pound 1.34233
Aussie 0.7579 Australia's third-quarter GDP expands 0.6% on quarter
India Rupee 64.445
South Korea Won 1092.62
Brazil Real 3.2419
Egypt Pound 17.7660
South Africa Rand 13.4740

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It Looks Like Another Rough Year for the Dollar in 2018 @business
International Trade


A hawkish Federal Reserve, an economy firing on all cylinders, the
tentative revival of the “Trump Trade” -- all that won’t be enough to
boost the dollar next year, according to a chorus of Wall Street
strategists.

“Beware of sleeping volcanoes and seriously undervalued currencies,”
Kit Juckes, global fixed-income strategist at Societe Generale SA,
wrote in a report Tuesday. With global “growth becoming more balanced
and more synchronized, the dollar looks expensive.”

“We think 2017 was a watershed year for the dollar,” said Ned
Rumpeltin, currency strategist at TD Securities Inc. “As long as
global growth maintains a steady pace, reflationary tailwinds persist,
and U.S. inflation does not unexpectedly -- and uniquely -- surge, the
global macro landscape should favor a steady depreciation of the
dollar.”

Case in point: The dollar’s underwhelming reaction to legislative
progress on U.S. tax reform, which was seen as the linchpin for
reflation after Trump was elected.

While the U.S. Dollar Index has tumbled 8.6 percent this year, it
remains 25 percent above its 2011 low, and, in real terms, the
exchange rate is 5 percent above its 20-year average, according to
Societe Generale.

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Nicolas Maduro's Accelerating Revolution The New Yorker
Emerging Markets


Venezuela’s President has outmaneuvered his opponents. Can he survive
an economy in free fall?

Maduro favors flowing red guayaberas, but he entered the room wearing
a collarless black suit, in the style of Nehru or Mao. He is a bear of
a man, standing some six feet five inches and weighing perhaps two
hundred and seventy pounds, with dark hair, a mustache, and a swath of
scar tissue on the left side of his face, from a motorcycle accident.
Looking over the heads of security guards, he spotted a group of
excited supporters, who had been invited to the palace from the
countryside, and crossed the room to greet them. For several minutes,
Maduro kissed the women, embraced the men, and posed for selfies. At
last, he sat down at a desk facing the audience, flanked by a
Venezuelan flag and a large portrait of Simón Bolívar, the
nineteenth-century freedom fighter, for whom the Bolivarian Republic
of Venezuela is named.

Since 2013, when Maduro took over the Presidency from Chávez, he has
overseen a country in tumult. The economy is collapsing, and many
citizens have endured devastating shortages of food and medicine; one
study found that three-quarters of Venezuelans had involuntarily lost
more than nineteen pounds in the past year. Maduro’s opponents have
portrayed him as indecisive and weak, or as malevolent and corrupt.
The National Assembly, where the opposition holds a majority, has
censured him for “abandoning the Presidency” and consistently foiled
his initiatives. Maduro, frustrated, decided to simply create his own
legislature—a replacement body, filled with loyalists, that was
empowered to rewrite the country’s constitution. Throughout the
spring, his struggle with the opposition inspired a four-month
confrontation between the government and protesters in which scores of
people died and hundreds were injured. Finally, in July, Maduro
successfully held elections for the new body, which he called the
constituent assembly. The protests died out, and, for the first time
since becoming President, he seemed firmly in control.

Maduro led me to a glass cabinet and produced a sword. Holding it
aloft, he said, “This sword was used by the Liberator himself in the
Battle of Carabobo.” The battle, fought by Bolívar’s partisans and
Spanish royalists in June, 1821, was the crucial victory in the
Venezuelan war of independence.

Maduro was not a natural leader, but he had been steeped in the ideas
of the revolution since childhood. He was born in a working-class
neighborhood of Caracas in 1962, a time when the Venezuelan left was
entwined with the counterculture. Maduro has said that he was “a
little bit hippie.” He rode (and crashed) motorcycles, played in a
band inspired by Led Zeppelin and John Lennon, and studied the
teachings of the Indian mystic Sai Baba, who exhorted his followers to
“let love flow, so that it cleanses the world.” In politics, Maduro
was more hard-nosed.

I always remember the advice old Kim Il Sung gave to Fidel: ‘Grow your
own rice.’ Your food has to come from somewhere near your kitchen.”

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New Rumblings in the Horn of Africa over Ethiopia's Grand Renaissance Dam Andrew Korybko
Africa


Egypt knows that it will forever remain dependent on Ethiopia in the
event that the project is completed, which would in turn place the
world’s most populous Arab state and the GCC’s top non-Gulf ally under
the influence of Qatar’s allies in Addis Ababa.

Should proxy warfare operations heat up in the Horn of Africa, then
the implications could be geopolitically profound because they could
endanger China’s Silk Road railway through Djibouti to the Ethiopian
capital, which could in turn offset the spread of multipolarity to
this strategic region. Amidst all of this, Sudan’s crucial position
between the two most directly competing parties will become all the
more important as a “balancing” force, but it will more than likely
take China’s discrete Great Power diplomatic involvement to alleviate
interstate tensions just like it decisively did between Bangladesh and
Myanmar last week.

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Ghana Seeks $750 Million Loan to Replace Diseased Cocoa Trees
Africa


Ghana’s cocoa regulator plans to raise $750 million in loans to
finance the replacement of almost half of the trees that produce the
crop in the country because they are either old or ridden with
disease.

Ghana Cocoa Board wants to cut down more than 400,000 hectares
(988,431 acres) of trees over the next five to eight years, Chief
Executive Officer Joseph Boahen Aidoo said on Monday. About a fifth of
Ghana’s cocoa tree stock is affected by swollen shoot disease, a virus
which reduces yields and kills a plant within three to four years,
while another quarter are old and unproductive, Aidoo said.

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Kenya's exports to East African countries decline with the largest drop being registered to Tanzania @The_EastAfrican
Kenyan Economy


New data shows that Tanzania cut imports from Kenya by more than $40.5
million to $134.2 million from $174.7 million, as a trade war simmered
between the two countries.

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Markit Stanbic Bank Kenya Purchasing Managers' Index (PMI) for manufacturing and services rose to 42.8 last month, from 34.4 in October
Kenyan Economy


Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI) for
manufacturing and services rose to 42.8 last month, from 34.4 in
October, but remained well below the 50 mark that separates an
expansion from a contraction.

“Business conditions deteriorated at a slower pace, thanks in large
part to the conjecture by the private sector that the political
impasse is now behind us,” said Jibran Qureishi, economist for East
Africa at Stanbic Bank

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Uchumi share price data +8.86% 2017
Kenyan Economy


Par Value:                  5/-
Closing Price:           4.30
Total Shares Issued:          364959616.00
Market Capitalization:        1,569,326,349
EPS:             -4.61
PE:                 -0.933

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Express Kenya Ltd share price data +5.633% 2017
Kenyan Economy


Par Value:                  5/-
Closing Price:           3.75
Total Shares Issued:          35403790.00
Market Capitalization:        132,764,213
EPS:             -2.74
PE:                 -1.369

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Kenya Shilling versus The Dollar Live ForexPros 103.00
Kenyan Economy


Nairobi All Share Bloomberg +29.97% 2017

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

173.30 -0.31 -0.18%

Nairobi ^NSE20 Bloomberg +18.30% 2017

http://j.mp/ajuMHJ

3,769.34 -34.44 -0.91%

Every Listed Share can be interrogated here

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

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N.S.E Today


Bitcoin climbed above $12,000 for the first time and everywhere I turn
in this City of ours I am being asked about it.
Steinhoff’s South African shares slumped 60 percent to a seven-year
low of 17.56 rand as the Johannesburg securities exchange opened,
recovering to 19.971 rand, still down 56 percent, by 0855 GMT.
The chief executive of Steinhoff African Retail (STAR), part of
Steinhoff which includes the control of Shoprite, also resigned on
Wednesday.
The Kenyan Shilling touched a nine month high of Sh 102.89 versus the Dollar
The Nairobi All Share rose 0.33 to close at 173.63
The NSE20 closed -18.23 points lower at 3751.10
Equity Turnover clocked 870.745m



N.S.E Equities - Commercial & Services


Kenya Airways closed +10.00% at 16.50 and traded 48,500 shares. There
were Buyers for 3.486m shares. Kenya Airways has ramped +200.00%
higher since November 27th as Investors cheer the corporate
restructuring, conversion of debt into Equity,

The news that Jamii Telecom was to Launch its Faiza Mobile a 4G Data
Focused Mobile Network did not trouble Safaricom which closed
unchanged at 27.25 [2.67% below a record closing high of 32.00 reached
on the 22nd of last month] on good volume action of 18.979m shares
worth 518.441m. Safaricom is the most blue-cip of Blue chip SSA stocks
and Buyers are relentless on any price reversals.

Nation Media Group's CEO Joe Muganda is leaving the company to take a
new role at Vivo Energy as MD. Nation Media closed unchanged at 115.00
and traded 11,000 shares. NMG trades on a Trailing PE of 12.921 and
translated a H1 Turnover decline of -6.400% to 5.2742b vs. 5.6348b
-6.400% into a +2.297% Gain in H1 Profit before income tax 1.1712b.
NMG is facing a turbulent media moment [as are all Media Companies]
but in my opinion has failed at connecting the dots. The next C-Suite
appointment's importance cannot be gainsaid.

The Uchumi CEO Julius Kipngetich resigned after 2 years on the Job.
Uchumi which had rallied +8.86% in 2017 through this morning corrected
-4.65% lower to close at 4.10 and was trading limit down at 3.90 -9.3%
at the closing Bell. Uchumi traded 450,500 shares. With a proven
Supermarket now on the Bench [Andrew Dixon], This price retreat might
be worthy of attention.



N.S.E Equities - Finance & Investment


KCB Group celebrated being cited as the 2017 Bank of the Year at the
18th edition of the Banker Awards and rallied +1.82% to close at 42.00
and traded 1.983m shares. KCB is +60.000% on a Total Return Basis in
2017.
Equity Bank corrected -2.38% to close at 41.00 and traded 891,900 shares.

The Nairobi Securities Exchange ticked +1.19% firmer to close at 21.25
on strong volume action of 1.089m shares. NSE is +45.05% in 2017.



N.S.E Equities - Industrial & Allied


KenGen corrected -2.29% lower to close at 8.50 and traded 9.146m
shares worth 77.827m. This is a mopping up operation and a bullish
share price indicator.

EABL which has started the local production of its iconic Captain
Morgan rum, bounced +1.66% higher to close at 245.00 and traded
188,200 shares. Buyers outpaced Sellers by a ratio of 2 to 1 today,
signalling further near term price strength.



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