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 12th of September 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.

The Latest Daily PodCast can be found here on the Front Page of the site
http://www.rich.co.ke

read more



Sterling implied volatility (GBP/USD) now highest relative to euro (EUR/USD) implied vol since December last year @ReutersJamie
Africa


Sterling starting to jump around a quite bit on Brexit headlines.
Sterling implied volatility (GBP/USD) now highest relative to euro
(EUR/USD) implied vol since December last year.

read more


Barnier prefers @theresa_may over @BorisJohnson and some-one in @10DowningStreet has been waging a subtle high velocity and winning digital strategy versus Boris
Africa


Barnier prefers @theresa_may over @BorisJohnson and some-one in
@10DowningStreet has been waging a subtle high velocity and winning
digital strategy versus Boris - look at stream of recent photos he
looks downcast in nearly everyone - old stories and new

Home Thoughts

read more


Rabbit," said Pooh to himself. "I like talking to Rabbit. He talks about sensible things. He uses short, easy words, like 'What about lunch?' And 'Help yourself, Pooh.' ~A.A.Milne
Africa


Rabbit," said Pooh to himself. "I like talking to Rabbit. He talks
about sensible things. He doesn't use long, difficult words, like Owl.
He uses short, easy words, like 'What about lunch?' And 'Help
yourself, Pooh.' I ought to go and see Rabbit." ~A.A.Milne
#TuesdayMotivation

read more


Africa


"Pooh!" he whispered.
"Yes, Piglet?"
"Nothing," said Piglet, taking Pooh's paw. "I just wanted to be sure of you.”
― A.A. Milne, The House at Pooh Corner

read more



"All that we have to do is send two mujahedeen to the furthest point east to raise a piece of cloth on which is written 'Al Qaeda," he said in 2004 @nytimes
Law & Politics


I learned that Osama bin Laden’s strategic logic was to embroil the
United States in a never-ending conflict to ultimately bankrupt the
country. “All that we have to do is send two mujahedeen to the
furthest point east to raise a piece of cloth on which is written ‘Al
Qaeda,’” he said in 2004, “in order to make generals race there to
cause America to suffer human, economic and political losses without
their achieving for it anything of note ….” Why are we continuing to
do what Bin Laden wanted all along?

I refuse to take Atta’s orders, or Bin Laden’s. I will not “stay
quiet.” End the war.

Joe Quinn is a United States Army veteran.

read more


The view from Moscow? A powerful signal to the world @asiatimesonline
Law & Politics


The exercises are the largest since the Cold War-era Zapad drills of
1981 – making Vostok 2018 the biggest maneuvers since the collapse of
the Soviet Union.

The numbers are astounding: 300,000 troops; more than 1,000 planes,
helicopters and drones, up to 80 combat and logistic ships and about
36,000 vehicles. Both the Northern and Pacific fleets will be deployed
in the Sea of Okhotsk, the Bering Strait and the Sea of Japan.

read more




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


At this moment, President Putin has Fortress Europe surrounded. The
intellectual father of the new Zeitgeist that propelled Brexit, Le
Pen, the Five Star movement in Italy, Gert Wilders in the Netherlands,
is Vladimir Putin. In the Middle East, it is Putin who is calling the
shots in Aleppo, and in a quite delicious irony it looks like he has
pocketed Opec as well.

read more







The tariff battle with the U.S. will probably cost China 700,000 jobs, or more in the event of further escalation @business
Law & Politics


The job losses would come if the U.S. imposes 25 percent tariffs on
$200 billion in Chinese exports and China retaliates by devaluing its
currency by 5 percent and adding to levies on U.S. goods, according to
economists led by Haibin Zhu at JPMorgan Chase & Co. If China doesn’t
retaliate at all, 3 million people could lose their jobs, they wrote
in a research note Tuesday.

The study highlights the more profound impacts of the tariff battle on
the world’s second largest economy, which is grappling with a slowing
pace of growth and a massive debt pile. Things may get even worse: if
the U.S. imposes 25 percent tariffs on all Chinese imports and China
retaliates with the levies already announced, the measures will mean
5.5 million lost jobs and 1.3 percentage points cut off gross domestic
product growth.

"If the U.S. further escalates the tariff war, the impact on China
will be larger," they wrote in the note. While the overall impact is
still manageable, the rising unemployment could become a major policy
concern, they wrote. "If unemployment increases sharply, it will
change the policy reaction function and the risk is biased towards
bolstered policy easing."

Conclusions

read more



"Trump's aggressive foreign economic policy is the signature success of this administration. It is highly effective - Trump can keep it up. It's working a treat," Mr. Satchu told Sputnik.
Law & Politics


"Trump's aggressive foreign economic policy is the signature success
of this administration. It is highly effective — look at Venezuela to
see its most extreme output. Iran is in a similar bind. China is in
retreat notwithstanding some bravura talk. Trump can keep it up. It's
working a treat," Mr. Satchu told Sputnik.

read more


Woodward P. 69 Trump, after being told about the Steele dossier, later told his attorney about the alleged prostitutes in Moscow.
Law & Politics


Trump said, "I've got enough problems with Melania and girlfriends and
all that. I don't need anymore. I can't have Melania hearing about
that."

read more


The Known Known @nybooks
Law & Politics


In 1999, when Scott McNealy, the founder and CEO of Sun Microsystems,
declared, “You have zero privacy…get over it,” most of us, still new
to the World Wide Web, had no idea what he meant. Eleven years later,
when Mark Zuckerberg said that “the social norms” of privacy had
“evolved” because “people [had] really gotten comfortable not only
sharing more information and different kinds, but more openly and with
more people,” his words expressed what was becoming a common Silicon
Valley trope: privacy was obsolete.

By then, Zuckerberg’s invention, Facebook, had 500 million users, was
growing 4.5 percent a month, and had recently surpassed its rival,
MySpace. Twitter had overcome skepticism that people would be
interested in a zippy parade of 140-character posts; at the end of
2010 it had 54 million active users. (It now has 336 million.) YouTube
was in its fifth year, the micro-blogging platform Tumblr was into its
third, and Instagram had just been created. Social media, which
encouraged and relied on people to share their thoughts, passions,
interests, and images, making them the Web’s content providers, were
ascendant.

Users found it empowering to bypass, and even supersede, the
traditional gatekeepers of information and culture. The social Web
appeared to bring to fruition the early promise of the Internet: that
it would democratize the creation and dissemination of knowledge. If,
in the process, individuals were uploading photos of drunken parties,
and discussing their sexual fetishes, and pulling back the curtain on
all sorts of previously hidden personal behaviors, wasn’t that
liberating, too? How could anyone argue that privacy had been invaded
or compromised or effaced when these revelations were voluntary?

The short answer is that they couldn’t. And they didn’t. Users, who in
the early days of social media were predominantly young, were largely
guileless and unconcerned about privacy. In a survey of sixty-four of
her students at Rochester Institute of Technology in 2006, Susan
Barnes found that they “wanted to keep information private, but did
not seem to realize that Facebook is a public space.” When a random
sample of young people was asked in 2007 by researchers from the Pew
Research Center if “they had any concerns about publicly posted
photos, most…said they were not worried about risks to their privacy.”
(This was largely before Facebook and other tech companies began
tracking and monetizing one’s every move on- and offline.)

In retrospect, the tendencies toward disclosure and prurience online
should not have been surprising. As Sarah Igo observes in The Known
Citizen, her masterful study of privacy in the United States, the
sharing and oversharing of intimacies predates the social Web; indeed,
the social Web simply allowed these behaviors to proliferate on a more
open and accessible platform. Igo cites the enormous popularity of An
American Family, a documentary doled out in twelve installments on
public television in 1973, as one of the earliest cultural watersheds
in Americans’ changing appreciation of privacy. Culled from the
filmmakers’ seven-month immersion in the day-to-day lives of an
ordinary family, the Louds of California, the series suggested that
nothing was off-limits on TV: the Louds’ marriage fell apart; their
son came out as gay; his father’s infidelities were exposed. Part of
what made this so sensational was that, by making the private public,
voyeurism and exhibitionism became mainstream entertainments. (Decades
later, with webcams built into computers, peering into other people’s
homes and lives no longer seems all that unusual.)

read more






Currency Markets at a Glance WSJ
World Currencies


Euro 1.1587
Dollar Index 95.18
Japan Yen 111.48
Swiss Franc 0.9743
Pound 1.3009
Aussie 0.7100
India Rupee 72.855
South Korea Won 1127.84
Brazil Real 4.1527
Egypt Pound 17.8390
South Africa Rand 15.1034

read more




International Trade


The shares rallied 2.5 percent Tuesday, increasing the gain since the
start of the year to 32 percent.
The three new models Apple is expected to introduce this week will
likely boost Apple’s average smartphone price by 5.4 percent
year-over-year to $793 in fiscal year 2019, according to Goldman Sachs
Group Inc’s analysts. The average iPhone price increase will be
important for the company that’s seeing its smartphone unit growth
stall.

read more


The Best Performing Crypto Is the One That's the Biggest Joke @business's @TheStalwart
International Trade


It’s been a brutal bear market for crypto. Since peaking in early
January, the entire space has lost around $640 billion. Every time
there’s been a brief rally it’s been followed up by relentless
selling.
According to OnChainFX, a site that tracks cryptocurrencies, only one
coin has seen major gains over the last 30 days, and it happens to be
the one that’s the biggest joke of all: Dogecoin. The coin, which was
introduced in 2013 as a play on the once popular Doge meme, has surged
over 160 percent in about a month.

read more


What needs to happen is just a come-to-Jesus moment for @elonmusk ." @business.
International Trade


Shah downgraded @Tesla to the equivalent of a hold and slashed his
price target to $300 on Tuesday, writing in a report that the company
is “no longer investable.”

read more










A key crossing point between one-time bitter enemies Ethiopia and Eritrea is set to reopen after a border war shut it more than 20 years ago. BBC
Africa


The border post, just north of the Ethiopian town of Zalambessa, is on
the main road linking the two countries.
The leaders of Ethiopia and Eritrea are there to witness the
reopening, which is part of their ongoing rapprochement.

read more



Rebellion Boils as Cameroon's President Seeks to Extend Rule BBG
Africa


While President Paul Biya appears to be a shoo-in to extend his
36-year rule in elections next month, he’s had no success in stifling
a rebellion in Anglophone regions that’s threatening to split the
mainly French-speaking central African nation.
Africa’s second-longest serving head of state, Biya, 85, is facing
eight candidates in an Oct. 7 vote that will be overshadowed by
insurgent attacks, a violent clampdown by the security forces and a
drop in production in Cameroon’s biggest cocoa-growing areas.
Thousands of people have fled to neighboring Nigeria.
The situation’s become so polarized that days after Samuel Kleda, the
archbishop of the commercial capital, Douala, called for mediation to
avert “a useless, senseless civil war” and urged Biya to step down,
shots were fired at the cleric’s residence.
Unrest that began in late 2016 with peaceful protests by teachers and
lawyers against the dominance of the French language in schools and
courts in the nation’s two English-speaking regions has morphed into a
conflict that’s claimed the lives of more than 120 soldiers and police
officers, destroyed schools and farms and blocked major roads.
“I’m not surprised this happened,” said Agnes, a 66-year-old former
civil servant who fled her farm in the Southwest Region where she’d
hoped to retire and now lives with her son in the capital, Yaounde.
“When there’s a lot of repression, there’s going to be an explosion,”
she said, asking not to be identified by her family name.
Like Agnes, many Cameroonians are afraid to speak publicly about the
country’s worst crisis in decades, fearing both the secret service and
reprisals from the secessionists.
In a bid to sabotage the start of the school year this month,
separatists murdered the headmaster of a primary school and abducted
six girls from a secondary school. On Saturday, gunmen seized an
excavator and dug a trench in a highway to the Northwest’s regional
capital, Bamenda. They forced buses to stop and killed two passengers.
The government responded by imposing an indefinite nighttime curfew in
the Northwest Region.
“Nothing can justify the atrocities committed by criminals who lay
claim to the secessionist movement with their only goal being the
disruption of the 2018-19 school year,” government spokesman Issa
Tchiroma Bakary said on Twitter. “We must all condemn in the strongest
possible terms this escalation of violence.”
Oil-dependent Cameroon is increasingly a key regional hub, with roads
and ports that are vital for landlocked neighbors including Chad and
Central African Republic.
The only country in Africa with both English and French as official
languages, Cameroon was split after World War I into a French-run zone
and a smaller British-controlled area. They were unified in 1961, but
the English-speaking minority, about a fifth of the population, has
complained of marginalization for decades. Only in recent years did
the struggle become violent.
“It’s taken this magnitude because there was no anticipation and no
early efforts to quickly resolve the crisis,” Manasse Aboya Endong, a
political science lecturer at the University of Douala, said in an
interview. “Now, the movement has been hijacked by radicals who want
to split up the state and refuse all mediation.”
The rebellion has highlighted widespread discontent with Biya and his
handling of the crisis. Biya rules mainly by decree and often spends
weeks at a time at the Intercontinental Hotel in Geneva for “private
visits.” Government spokesman Bakary has defended the trips, saying
Biya works very hard while he’s in Europe.
Biya has convened only one cabinet meeting this year, the first since
2015, and hasn’t addressed the revolt apart from a brief statement in
November. His decision to run again was announced on Twitter.
“Nobody knows what the guy is thinking,” Akere Muna, a 66-year-old
lawyer whose late father Salomon was Cameroon’s first Anglophone prime
minister, said in an interview. “We have tens of thousands of people
who are internally displaced, thousands of kids who can’t go to
school, and yet the president doesn’t speak. We are in a rudderless
ship.”
Despite Biya’s absenteeism, Cameroon’s opposition has never been able
to effectively unite and unseat him in elections.
Calls for talks between the authorities and the insurgents have so far
fallen on deaf ears. The government refuses to release secessionist
leaders who’ve been in prison since January following their expulsion
from neighboring Nigeria. That’s left the movement without a visible
leadership, while Anglophones who don’t support secession are accused
of being sell-outs by those who call for armed struggle.
Moderate Anglophone leaders are now pushing for a general conference
to choose representatives and persuade the government to hold talks.
Initially scheduled for Aug. 28-29, the conference has been postponed
to avoid tensions surrounding the presidential vote and to allow more
time for Anglophones in the diaspora to attend, said Simon Munzu, a
former senior United Nations official who is organizing the
conference.
“We believe that this will nudge them towards a national dialogue,”
Munzu said in an interview. “We can have federalism at a low cost now
or separatism at an exorbitant cost on the population, and we have to
weigh those costs.”

read more



In Bulldozer's Tanzania, Law Court Gives Rare Flicker of Dissent
Africa


In President John Magufuli’s Tanzania it’s illegal to protest. It can
also be illegal to blog anonymously or criticize parliament.
If you’re a schoolgirl who becomes pregnant and wants to keep
attending classes, that’s illegal. If you’re a musician who sings
about sex or politics, your songs might be illegal.
The lack of freedom getting you down? You could complain about it all
on social media. Except that may be illegal.
The institution of the law, though, could be all that’s stopping
Magufuli -- who was elected in late 2015 and is nicknamed the
“bulldozer” -- from a greater crackdown. In recent months, the East
African nation’s High Court has struck down the government-backed
suspension of a newspaper and permitted a challenge to a 1997 law that
allows local officials to order detention without charge for 48 hours.
It may be a sign of tentative resistance to the authoritarian tide.
The rulings show “that no one in Tanzania is above the law,” said
Jebra Kambole, the founder of civil society group Haki Tanzania and an
advocate who brought the second case to court.
Although Tanzania has been ruled by versions of the same party ever
since its 1964 unification, it allowed relatively free political
discussion, making its recent repressive turn -- and a spate of
politically motivated killings -- a shock to many. Last month, dozens
of civil-society groups urged the United Nations to address what they
called a deterioration of human rights and press freedoms.
After winning election on an anti-corruption ticket, Magufuli embarked
on an efficiency drive, carrying out impromptu office inspections and
firing officials on the spot.
While his bid to secure the gold- and gas-rich nation’s economy more
revenue has brought disputes with companies such as Acacia Mining Plc,
there have been gains. Income from Dar es Salaam’s port has grown even
as shipping volumes fell, which officials attribute to greater
efficiency. Police officers, once notorious for bribe-taking, seem to
have stopped the practice.
Magufuli, who hasn’t announced if he’ll run in 2020 elections,
recently predicted his Chama Cha Mapinduzi party will rule forever.
Poll results released in July by the Twaweza civil-society group
showed the public may have misgivings; the 58-year-old president’s
approval rating dropped to 55 percent in April, from 96 percent in
2016. The government dismissed the findings, asking Twaweza to explain
its study or face legal action.
Tanzania’s chief justice, Ibrahim Hamis Juma, arguably set the stage
in January with a warning to politicians to respect the separation of
powers. He urged “all government leaders to refrain from meddling with
the issues that are within the rights, status and constitutional
authority of the judiciary,” in a Law Week address that’s
traditionally seen as setting the institution’s agenda for the year
ahead.

read more






South Africa All Share Bloomberg -5.6% 2018
Africa


Dollar versus Rand 6 Month Chart INO 15.1034 [SELL ZAR 14.65 STOP]

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

Egypt Pound versus The Dollar 3 Month Chart INO 17.8390

http://quotes.ino.com/charting/index.html?s=FOREX_USDEGP&v=d3&t=c&a=50&w=1

Nigerian gas tanker explosion kills at least 35 @ReutersAfrica

https://twitter.com/ReutersAfrica/status/1039418938428416000

Nigeria All Share Bloomberg -12.54% 2018

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

Ghana Stock Exchange Composite Index Bloomberg +7.00% 2018

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

read more




The Eurobond II Prospectus, which was organised by @Citi @jpmorgan @StandardBankZA and @StanChart reads:
Kenyan Economy


"Holders of the 2028 notes or the 2048 notes…who hold at least 25 per
cent in aggregate principal amount may declare such notes to be
immediately due and payable at their principal amount together with
accrued interest if the issuer (Government of Kenya) ceases to be a
member of the IMF or ceases to be eligible to use the general
resources of the @IMFNews’’

Conclusions

Caused quite some debate on Social Media. However, it does not mean
that $2b is callable and a failure to renew the IMF Facility [I
absolutely think they should] would not immediately trigger a call.

read more



Kenya Shilling versus The Dollar Live ForexPros
Kenyan Economy


Nairobi All Share Bloomberg -6.07% 2018

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

Nairobi ^NSE20 Bloomberg -17.96% 2018

http://j.mp/ajuMHJ

10-SEP-2018 :: VAT Tax and Spend @ThestarKenya

http://bit.ly/2QjBR76

Every Listed Share can be interrogated here

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

read more





 
 
N.S.E Today


Sterling is sitting just above the 1.3004 level and what is becoming
clear is that the EU and its Chief Negotiator Michel Barnier prefers
Theresa May over Boris Johnson and is seeking to triangulate Boris.
Hence the recent more emollient and soothing language around Brexit.
Some-one in @10DowningStreet has been waging a subtle high velocity
and winning digital strategy versus Boris - look at the stream of
recent photos in which he looks downcast in nearly everyone.
It’s been a brutal bear market for crypto. Since peaking in early
January, the entire space has lost around $640 billion. Every time
there’s been a brief rally it’s been followed up by relentless
selling. [Bloomberg]
According to OnChainFX, a site that tracks cryptocurrencies, only one
coin has seen major gains over the last 30 days, and it happens to be
the one that’s the biggest joke of all: Dogecoin.
The coin, which was introduced in 2013 as a play on the once popular
Doge meme, has surged over 160 percent in about a month.
The Price of Oil continues to press higher with WTI Crude trading just
beneath $70.00 a barrel.
Emerging and Frontier Markets have of course been getting creamed for
a few weeks now.
The Indian Rupee trades at 72+ having bounced off a Fresh record low
close to 73.00
The MSCI Emerging Markets Index future fell below a 1000, down almost
30% from its January high!
We could be on the cusp of a Chicken War between the US and South Africa.
The US has a penchant for White chicken and tends to firesale the
non-white parts of the chicken and South Africa is at loggerheads with
the US in this regard.
The US poultry industry said if SA drops quota they'll tell Trump to
retaliate hard against SA. @hallaboutafrica
There was considerable debate around a Standard Article which cited
the Eurobond II Prospectus, where the following language is found
"Holders of the 2028 notes or the 2048 notes…who hold at least 25 per
cent in aggregate principal amount may declare such notes to be
immediately due and payable at their principal amount together with
accrued interest if the issuer (Government of Kenya) ceases to be a
member of the IMF or ceases to be eligible to use the general
resources of the @IMFNews’’
The Key Point is that the $2b is not callable on the basis of Kenya
not rolling over its current IMF facility.
I am of the view in this new less benign environment it is in fact
imperative to keep the facility in place.
The Bear is clawing the Equity markets now.
The Nairobi All Share retreated -0.85 points to close at 159.95 a 10
month closing Low.
The Nairobi NSE20 [which is already in a bear market] retreated 25.41
points to close at 3019.94 a 17 month low.
Equity Turnover was a meagre 263.387m and Sellers outpaced Buyers
across the Board.



N.S.E Equities - Commercial & Services


Safaricom closed unchanged at 27.00 and traded 6.191m shares worth
167.347m. This is a Buy Zone now.

Nation Media shaved off -2.702% to close at 72.00 a free multi-year
and more than a decade low.

ScanGroup was high-ticked +8.58% to close at 16.45 on volume of $14.50
and 100 shares.



N.S.E Equities - Finance & Investment


COOP Bank closed unchanged at 16.15 and traded 1.333m shares.
KCB Group closed -1.19% lower at 41.50 and traded 432,100 shares with
Sellers outpacing Buyers by a Ratio of 5 to 1.
Equity Group corrected -1.14% to close at 43.50 and traded 65,500
shares with Sellers outpacing Buyers by a Ratio of 5 to 1.

Centum closed -5.00% at 28.50 and traded 252,000 shares.



N.S.E Equities - Industrial & Allied


Unga was high-ticked +5.96% to close at 40.00 on 100 shares.

--



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

 
 
Forgot your password? Register Now
 
 
September 2018
 
 
 
 
 
COMMENTS

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