home | rich profile | rich freebies | rich tools | rich data | online shop | my account | register |
  rich wrap-ups | **richLIVE** | richPodcasts | richRadio | richTV  | richInterviews  | richCNBC  | 
Satchu's Rich Wrap-Up
 
 
Wednesday 11th of July 2018
 
Morning,
Africa

Register and its all Free.

If you are tracking the NSE Do it via RICHLIVE and use Mozilla Firefox
as your Browser.
0930-1500 KENYA TIME
Normal Board - The Whole shebang
Prompt Board Next day settlement
Expert Board All you need re an Individual stock.

read more






Trump "Thirty-four, and then you have another 16 in two weeks and then, as you know, we have 200 billion in abeyance and then after the 200 billion we have 300 billion in abeyance. OK? So we have 50 plus 200 plus almost 300."
Africa


Trump described the potential escalation to reporters aboard Air Force
One: "Thirty-four, and then you have another 16 in two weeks and then,
as you know, we have 200 billion in abeyance and then after the 200
billion we have 300 billion in abeyance. OK?" Trump said. "So we have
50 plus 200 plus almost 300."

read more





09-JUL-2018 :: President Trump has now turned his attention to Xi Jinping and thrown him the Keys challenging him to a "Chickie Run."
Africa


President Trump after bashing on Justin Trudeau of Canada and Mexico's
Enrique Peña Nieto [now upended, of course] and then firing a few
broadsides at Europe, has now turned his attention to Xi Jinping and
thrown him the Keys challenging him to a "Chickie Run."

read more



Markets taking this latest news flow rather badly @DavidInglesTV
Africa


Asia, US futures down
USD, bonds bid; trade-related currencies worst off
Copper falls to lowest since last year

read more





The Royal Hunt of the Sun is a 1964 play by Peter Shaffer
Africa


The Royal Hunt of the Sun is a 1964 play by Peter Shaffer that
dramatizes the relation of two worlds entering in a conflict by
portraying two characters: Atahuallpa Inca and Francisco Pizarro.

read more


Peter Shaffer, The Royal Hunt of the Sun
Africa


“Have you ever climbed a mountain in full armour? That's what we did,
him going first the whole way up a tiny path into the clouds, with
drops sheer on both sides into nothing. For hours we crept forward
like blind men, the sweat freezing on our faces, lugging skittery
leaking horses, and pricked all the time for the ambush that would tip
us into death. Each turn of the path it grew colder. The friendly
trees of the forest dropped away, and there were only pines. Then they
went too, and there just scrubby little bushes standing up in ice. All
round us the rocks began to whine the cold. And always above us, or
below us, those filthy condor birds, hanging on the air with great
tasselled wings....Four days like that; groaning, not speaking; the
breath a blade in our lungs. Four days, slowly, like flies on a wall;
limping flies, dying flies, up an endless wall of rock. A tiny army
lost in the creases of the moon.”

read more


Atahualpa: Pizarro. You will die soon, and you not believe in your God. Believe in me. For you, I will do a great thing. I will swallow death and spit it out of me.
Africa


Atahualpa: Pizarro. You will die soon, and you not believe in your
God. Is why you tremble and keep no word. Believe in me. For you, I
will do a great thing. I will swallow death and spit it out of me.

Political Reflections

read more



we could be on the on the cusp of a completely new era, a fundamental reshaping of the international order. And I don't mean over the course of the Trump Administration. I mean by next week @DanielBShapiro
Law & Politics


1. I don't think we are fully grappling with the possibility that we
could be on the on the cusp of a completely new era, a fundamental
reshaping of the international order. And I don't mean over the course
of the Trump Administration. I mean by next week.
2. It sounds outlandish to even say it out loud, and some can easily
call this hyperbole. I hope to God it does not happen. But we would be
insane not to grapple with the possibility.
3. Trump clearly wants to pull the US out of NATO. He doesn't believe
in the alliance (or any alliances); he thinks our allies take
advantage of us; he complains that NATO is worse than NAFTA(whatever
that means); he seeks purely transactional relations with our closest
partners.
4. Should other NATO members meet their 2% of GDP defense spending
targets? Absolutely. Trump is on solid ground to push for it. But to
consistently trash allies, undervalue their contributions to our
security, threaten to withdraw US troops -- that's him wanting out.
5. Perhaps most damaging is that his rhetoric is building up hostility
to NATO among his supporters. It's a huge breach in the consensus
American support for the alliance that has undergirded Western
security for 70 years, and it won't disappear when Trump does.
6. What's more, his passionate desire for friendship with Putin is
emboldening Russia & risks doing further damage to European security.
If he recognizes Russia's illegal annexation of Crimea, if he seeks to
tone down sanctions on Russia over its aggression vs Ukraine, watch
out.
7. This could play out in the next 2 weeks. If he sabotages the NATO
summit the way he did the G-7, don't be surprised if he actually makes
a move toward exiting NATO. Think he won't? On what basis? Because his
staff restrains him? Because of his strategic understanding? Please.
8. If we get there, the implications are innumerable & terrifying:
Russia pawing at Baltics &other E & C European states; breakdown of
joint defense structures; withdrawal of US troops from Euro bases;
less restrained German foreign policy; weaker US power projection to
Eurasia.
9. That just scratches the surface. We honestly cannot begin to
imagine living in a new era without these international organizing
structures. Because for all of NATO's challenges, no sane person or
American political leader has or would contemplate such a reckless
move.
10. But it could happen. Our President doesn't know the history or
strategy, doesn't listen to experts, personalizes everything & makes
it transactional, & loves the drama of the outrageous move that
dominates cable TV coverage. For him, pulling out of NATO is all gain,
no cost.
11. Even as I write this, it sounds fantastical. I will be the
happiest person on the planet if I look back at this thread and say,
man, you were way overreacting. But we need to be ready for this awful
scenario to play out.
12. I repeat: we are potentially on the verge of a wildly dangerous
cascade of events that will devastate our interests, weaken our
leadership, abandon our allies, embolden our adversaries, and make the
world a darker and more brutal place.
13. We have done no planning for this course of action. No one thinks
it is a good idea. But one man, whose knowledge and values are
wanting, whose motivation is suspect, and whose supporters follow him
blindly, could take us there. END

read more





"Tories know they're one step away from a kind of Reservoir Dogs finale to this, with a form of circular firing squad."
Law & Politics


Spectator editor @FraserNelson explains why he thinks Brexiteers are
unlikely to succeed in toppling Theresa May.

Conclusions

read more


1.3273 - I thinks Sterling is a Buy! @theresa_may has put the Merry Band of Brexiteers [@BorisJohnson @Jacob_Rees_Mogg] into a Put Up or Shut Up moment
Law & Politics


1.3273 - I thinks Sterling is a Buy! @theresa_may has put the Merry
Band of Brexiteers [@BorisJohnson @Jacob_Rees_Mogg] into a Put Up or
Shut Up moment - Topple me and open the Door wide for @jeremycorbyn -
she waited she waited then she struck a la Agatha Christie at Chequers

read more




India is no longer home to the largest number of poor people in the world. Nigeria is @washingtonpost
Law & Politics


Extreme poverty rises in Nigeria by six people each minute, according
to calculations by the World Poverty Clock. Meanwhile, the number of
extreme poor in India drops by 44 people a minute.

“It’s a good news story for India, coupled with some caveats, and it’s
a real wake-up call for the African continent,” said Homi Kharas,
director of the global economy and development program at the
Brookings Institution.

read more


"We developed a system of strong decentralisation and it took us more than 150 years to develop. Devolution process in Kenya supports the unity of the country." H.E. @alain_berset Video
Law & Politics


“We developed a system of strong decentralisation and it took us more
than 150 years to develop. Devolution process in Kenya preserves the
local communities and at the same time supports the unity of the
country.” H.E. @alain_berset

read more


So, the cat is officially out of the bag. Tomorrow's ICO's report on FT front page. Maximum possible fine for Facebook FT @carolecadwalla
Law & Politics


So, the cat is officially out of the bag. Tomorrow’s ICO’s report on
FT front page. Maximum possible fine for Facebook. Criminal
enforcement against Cambridge Analytica. Huge investigation ongoing
into MULTIPLE crimes potentially committed in referendum. The ICO is
bringing it..

read more


05-DEC-2016:: "We have a deviate, Tomahawk."
Law & Politics


However, my starting point is the election of President Donald Trump
because hindsight will surely show that Russia ran a seriously
sophisticated programme of interference, mostly digital.
Don DeLillo, who is a prophetic 21st writer, writes as follows in one
of his short stories:
The specialist is monitoring data on his mission console when a voice
breaks in, “a voice that carried with it a strange and unspecifiable
poignancy”.
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.”
“There’s some interference. I have gone redundant but I’m not sure
it’s helping.”
“We are clearing an outframe to locate source.”
“Thank you, Colorado.”
“It is probably just selective noise. You are negative red on the
step-function quad.”
“It was a voice,” I told them.
“We have just received an affirm on selective noise... We will
correct, Tomahawk. In the meantime, advise you to stay redundant.”
The voice, in contrast to Colorado’s metallic pidgin, is a melange of
repartee, laughter, and song, with a “quality of purest, sweetest
sadness”.
“Somehow we are picking up signals from radio programmes of 40, 50, 60
years ago.”

read more



Assad, aided by Russia, poised to snuff out 'cradle' of revolt @Reuters
Law & Politics


President Bashar al-Assad is poised to snuff out the Syrian rebellion
in the place it first began more than seven years ago, as rebels enter
talks with his Russian allies on withdrawing from Deraa city or
accepting a return of state authority.

read more


China's Silk Road Isn't So Smooth
Law & Politics


Skeptics’ warnings are beginning to come true.

International Markets

read more


Currency Markets at a Glance WSJ
World Currencies


Euro 1.1728
Dollar Index 94.23
Japan Yen 110.07
Swiss Franc 0.9922
Pound 1.3263
Aussie 0.7413
India Rupee 68.825
South Korea Won 1121.64
Brazil Real 3.8163
Egypt Pound 17.9075
South Africa Rand 13.3951

read more









Gold 6 month INO 1252.00
Commodities


Gold lost 0.3 percent to $1,251.57 an ounce.

Emerging Markets

read more





#Zambia has been using foreign reserves to service its debt, but they are now so low that the Bank of Zambia has not updated its public figures since February @Africa_Conf
Africa


#Zambia has been using foreign reserves to service its debt, but they
are now so low that the Bank of Zambia has not updated its public
figures since February, and we hear that they fell to well below the
last reported figure of $1.8bn.

read more




Congo's Kabila delays @UN chief's visit, refuses to see U.S. envoy @nikkihaley
Africa


Kabila, who succeeded his assassinated father Laurent in 2001, was
busy organizing Dec. 23 elections and had to postpone a visit by
Guterres and African Union Commission chairman Moussa Faki Mahamat,
said Congolese government spokesman Lambert Mende.

“As for Nikki Haley I don’t see why and how the president’s refusal to
see her has created so much controversy. Nikki Haley ... was already
in DRC (Democratic Republic of Congo) and she met President Kabila,”
Mende said.

Haley met privately with Kabila for 90 minutes in Kinshasa in October,
warning him that “a relationship with the United States is dependent
on how he acts going forward.” Diplomats said she had planned to visit
again this week.

The U.S. mission to the United Nations was not immediately available
for comment on Haley’s trip.

“Is it the case that in all African countries in the middle of the
electoral process these same visitors come to verify if the
preparations are going in the right direction? If yes, they are also
welcome in our country,” Mende said.

Kabila was required by the constitution to step down in December 2016
but the election to replace him has been repeatedly delayed.

read more








Dfcu bank in 'liquidity crisis' as shareholder quits
Africa


Dfcu chairman Elly Karuhanga while addressing the media today,
admitted that the exit of Dfcu's biggest shareholder, CDC has already
thrown the bank into a liquidity crisis - with the bank struggling to
raise requested loan moneys to its customers.

read more


"We don't know whether CDC group is running away completely or selling part of its shares. So we don't really know what is going on. They have not made it officially to us. If they make it clear to us we shall inform you,"
Africa


Dfcu Ltd general manager George Ochom said “Liquidity is very critical
in any bank. Really it is critical in the interbank market because you
know there are always payments that go for daily basis so in normal
cause of banking business there is a lot of movements of funds."

In its letter, CDC expressed hope that Dfcu would continue to “succeed
with the support of Arise B.V., its major shareholder.” CDC’s
investment in Dfcu, according to the institution’s official website,
is $15.1m (equity) and $10m (subordinated loan).

About nine institutional investors own Dfcu, with Arise BV holding the
largest shareholding at 59 per cent. CDC is in second position,
followed by National Social Security Fund (NSSF). It is not
immediately clear if the recent resignation of Arise BV executive
director Deepak Malik from the Dfcu bank’s board of directors is also
linked to the current crisis.

Some insider reports indicate that the crisis was sparked off by the
fight over sharing of the Shs 127 billion after tax profit that the
bank made in 2017 following the acquisition of Crane bank. After the
Crane bank takeover, Dfcu's annual net profit jump by more than 136%
while assets leaped up by 100% in 2017 - putting it right on the list
of the most profitable banks in the country.

Dfcu's after tax profit in 2016 was just Shs 46 billion before the
Crane bank takeover. It was the first time Dfcu had crossed the Shs
100 billion threshold, becoming the fourth bank to do so in the
country.

Dfcu acquired Crane bank at about Shs 200 billion,but the bank's
management insist Crane bank was valued above Shs 1.3 trillion. Dfcu
is listed on the Uganda Securities Exchange and is still battling a
court case with Crane bank shareholders over the takeover.

read more



Tea production up 17pc in five months on favourable weather @dailynation
Africa


Conclusions

Good Rains = Good Economy = why I have a 6% FY 2018 GDP Forecast

read more


Kenya's consumption of cement dipped to 1.4 million tonnes in the second quarter of the year, pointing to a persistent slowdown of activity in the real estate sector
Africa


National cement consumption stood at 1.5 million tonnes in the first
quarter of last year, continuing a losing streak that persisted
throughout 2017.

The decline in consumption was also manifest in the 15.7 per cent drop
in the volume of imported cement and the eight per cent decline in
importation of cement clinkers in the three months to March, according
to the Kenya National Bureau of Statistics (KNBS).

“Similarly, the volume of imports of construction materials such as
iron and steel bars, and rods declined by 4.9 per cent during the
quarter in review,” said the statistics office.

Kenya’s cement consumption initially dipped in 2017 -- the first time
in 17 years – in line with the decline in construction sector demand.

read more







 
 
by Aly Khan Satchu (www.rich.co.ke)
 
 
Login / Register
 

 
 
Forgot your password? Register Now
 
 
July 2018
 
 
 
 
 
COMMENTS

 
In order to post a comment we require you to be logged in after registering with us and create an online profile.