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Friday 05th of April 2019
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Morning Africa |
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Normal Board - The Whole shebang
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Expert Board All you need re an Individual stock.
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Saudi Arabia threatens to ditch dollar oil trades to stop 'NOPEC' - sources @Reuters Africa |
“The Saudis know they have the dollar as the nuclear option,” one of
the sources familiar with the matter said.
“The Saudis say: let the Americans pass NOPEC and it would be the U.S.
economy that would fall apart,” another source said.
NOPEC, or the No Oil Producing and Exporting Cartels Act, was first
introduced in 2000 and aims to remove sovereign immunity from U.S.
antitrust law, paving the way for OPEC states to be sued for curbing
output in a bid to raise oil prices.
Depending on prices, oil is estimated to represent 2 percent to 3
percent of global gross domestic product. At the current price of $70
per barrel, the annual value of global oil output is $2.5 trillion.
Trading in derivatives such as oil futures and options is mainly
dollar denominated. The top two global energy exchanges, ICE and CME,
traded a billion lots of oil derivatives in 2018 with a nominal value
of about $5 trillion.
The kingdom has nearly $1 trillion invested in the United States and
holds some $160 billion in U.S. Treasuries.
If it did carry out its threat, Riyadh would also have to ditch the
Saudi riyal’s peg to the dollar, which has been exchanged at a fixed
rate since 1986, the sources said.
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12-NOV-2018 :: MBS, alleged owner of Leonardo Da Vinci's Salvator Mundi which is a painting of Christ as Salvator Mundi (Latin for "Savior of the World") dated to 1500. Africa |
The painting shows Jesus, in Renaissance dress, giving a bene- diction
with his right hand raised and two fingers extended, while holding a
transparent rock crystal orb in his left hand. The rock crystal orb of
course reappeared during Trump’s visit to the Desert Kingdom.
Khashoggi was murdered in cold blood in an obviously ‘’Quentin
Tarantino’’ style operation. The facts that have been presented are
stran- ger than fiction and my question is if this is how they conduct
them- selves on foreign soil, just imagine what must be going on at
home.
The king is called the custodian of the two holy mosques after all.
MBS is also the proud owner of Serene [the yacht] which he bou- ght
for 500m Euros in 2015, while vacationing in the south of France.
Bruce Reidel alleges MBS sleeps on the Serene off Jeddah because he
too lives in fear for his life.
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18-MAR-2019 :: @Boeing 737 MAX-8, @FlyEthiopian 302, the FAA Law & Politics |
The lack of touch and finesse displayed by Boeing over the last seven
days is mind-boggling. They have stayed resolutely behind the curve
from the GET-Go. The Message Boeing sent was the Safety came second, a
simply untenable position. Eventually the FAA capitulated and grounded
the 737 Max.
Ethiopian and its Government acted with a lot of decorum. Concerns
about brand damage are overblown. In contrast, Boeing have taken a big
hit but more worryingly the corporate’s reactions to a fast moving
situation were a D-.
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Pompeo pledges support for Congo's Tshisekedi 'change agenda' in first meeting @ReutersAfrica Africa |
U.S. Secretary of State Mike Pompeo expressed support for Congo
President Felix Tshisekedi’s “change agenda” to tackle corruption,
improve human rights and strengthen security during their first
meeting on Wednesday, the State Department said.
It was Tshisekedi’s first visit to the United States since winning
Dec. 30 elections, which while marred by widespread accusations of
fraud, led to the first transfer of power via the ballot box in the
Democratic Republic of Congo.
“They discussed the future of U.S.-DRC relations following the
country’s historic transfer of power earlier this year,” the
department said in a statement.
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Algeria's President Bouteflika Is Gone. What Happens Now? @nytimes Africa |
For weeks, millions of protesters filling Algeria’s streets have
demanded the end of President Abdelaziz Bouteflika’s 20-year rule, as
well as the “System” of cronyism and corruption he oversaw. On Tuesday
night, the wheelchair-bound, 82-year-old president was finally forced
from power.
The final push came from the army chief of staff, Ahmed Gaïd Salah, a
former ally who belatedly came around to the protesters’ view that the
president was physically unable to perform his role, and was being
used by a tight circle of family members and businessmen to preserve
their privileges.
The country’s constitutional council ratified the resignation on
Wednesday, formally ending the rule of a man who had locked down
Algeria’s politics for a generation, but leaving the country on the
threshold of new uncertainties.
Even though the protesters remarkably succeeded in removing Mr.
Bouteflika from office without a single life lost or shot fired by the
security services, the standoff is far from over.
Mr. Bouteflika, or the people around him, succeeded in at least one
goal: The former president’s hand will continue to be felt, at least
in the short term.
An interim government named by Mr. Bouteflika on Sunday night is still
in charge. It will be presided over by a Bouteflika ally, the elderly
head of the country’s senate, Abdelkader Bensalah, for 90 days, while
elections are organized.
The prime minister named by Mr. Bouteflika, former Interior Minister
Noureddine Bedoui, is seen as a Bouteflika loyalist and hard-liner,
castigated by the political opposition and protesters as the man who
organized rigged legislative elections in 2017 and has violently put
down protests before.
The interim government presided over by Mr. Bedoui and Mr. Bensalah is
nominally in charge. But it is certain that the army will keep a close
watch on it. It is equally certain that its credibility with the
street is limited. And it is an open question as to how long it lasts.
The images on Algerian television were telling: A feeble-looking Mr.
Bouteflika handing his resignation letter to the elderly president of
the country’s constitutional council, watched by another elderly man,
Mr. Bensalah, who will decide the country’s destiny as Mr.
Bouteflika’s temporary replacement.
That scenario is unlikely to reassure the thousands of youthful
protesters who gathered to celebrate Mr. Bouteflika’s departure
Tuesday night in central Algiers.
Although their main demand has been met, the two other men in the
televised images symbolize the protesters’ other complaint: that
Algeria remains in the hands of the “System,” the nexus of compromised
politicians, businessmen and military who have kept democracy firmly
at bay.
That is unlikely. The interim government is already seen as Mr.
Bouteflika’s creature, and Mr. Bensalah is widely known as a
Bouteflika loyalist and the beneficiary of the ex-president’s
patronage.
The protesters have been unified under the slogan, ‘‘Système degage!”
or ‘‘System Get Lost!’’ Everybody associated with the Bouteflika
regime is suspect in their eyes and has no legitimacy.
They are demanding nothing less than a clean slate — new leaders, real
elections, and a real rule of law. Algeria has known none of these
things.
Meetings of opposition politicians and civil society groups are taking
place in Algiers to map out a future for the country.
Out of these meetings a few figures have emerged who could play a
leading role, notably the human rights lawyer Mostefa Bouchachi.
The unresolved question for the coming days is, how far is the
military likely to let the protesters go in their demand for an
overhaul of the “System.”
General Salah himself, though now proclaiming himself on the side of
the crowd, was very much part of the old regime.
The army has been the ultimate arbiter of political life since
independence 57 years ago. This time, too, it was the army that gave
the final push to Mr. Bouteflika. Without the army’s support it is
unlikely the protest movement would have been successful in its goal
to oust the ex-president.
Is the army now willing to turn the country’s future entirely over to
civilians, with no say? Unlikely.
“They are not going to stop Algerians from searching for a new
Algeria, but they want to be present — an actor — because they have
interests to protect,” said Hasni Abidi, Algerian-Swiss director of
the Center for Study and Research on the Arab and Mediterranean World,
in Geneva.
“It this role that is problematic,” Mr. Abidi said. “The army is the
only decisive actor. But since Feb. 22” — the date of the first
demonstration — “there is another actor: the street.”
He added: “It is the army that is saying to the street: ‘I am your
interlocutor.’”
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Protests flush out the old guard @Africa_Conf Africa |
Popular anger has finally unravelled the Bouteflika power network.
Cronies are under arrest and there are doubts the deep state can
survive
Algerians are looking for a 'Second Republic' which enshrines a
genuine break with the past. A majority want full regime change, which
means sweeping away le pouvoir and its cronies. Gaïd Salah's efforts
to assert control point to business as usual after Bouteflika, but it
is not clear if even he is really in charge
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.@Vodacom unit alleged to have caused $4.76 mln loss to Tanzania Africa |
Vodacom Tanzania said on Thursday the government had accused it of
causing an 11 billion shilling ($4.76 million) loss linked to
allegations of fraudulent use of network facilities against its
managing director and other executives.
Egyptian Hisham Hendi and other executives “intentionally and wilfully
organised a criminal racket, which caused the government ... to suffer
a pecuniary loss,” the documents said.
They were not allowed to enter a plea or apply for bail, and are being
held in police custody until the case comes up on April 17, a court
official told Reuters.
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