|Monday 06th of December 2010
www.rich.co.ke Register and its all Free.
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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
I thank Bob Collymore Esquire The CEO of Safaricom for #Mindspeak Saturday.
A Selection of the Tweets are below or just go to Twitter and search #Mindspeak
sady_sadz LOL! RT @bobcollymore: @alykhansatchu Yikes!!! Is it today
we,re doing it?!?
4zinho @alykhansatchu good morning,in Nbo already..where at westgate
angiecentra @bobcollymore #yikes! I hope u are kidding. @alykhansatchu
may have to lock down westgate coz of the numbers
kasmall Watching @alykhansatchu on #mindspeak in the comfort of my
hse. Distance is no issue in this world anymore.
StephenNyumba @alykhansatchu excellent livestream!
@muchiritony @alykhansatchu @bobcollymore livestreaming is the best
thing that has happened to #mindspeak since twitter......Big up Ally
Saturday, December 04, 2010 10:16:19 AM via TweetDeck
# elvisbando @alykhansatchu @bobcollymore watching live stream...great
work #mindspeak Saturday, December 04,
# Ciru RT @alykhansatchu: #Mindspeak @bobcollymore saying Michael
Joseph and him are like Putin and Medvedev www.rich.co.ke
mmnjug @alykhansatchu If @bobcollymore and @michaelj2 are like Putin
and Medvedev,then thats too much power in single office suite!
Afrinnovator #mindspeak live blog is... well, live! tune in for single
source of all that's going on at the event - @alykhansatchu
mmnjug @davemunyao #MPesa has more transactions in month than Western
Union has in a year! #MindSpeak @bobcollymore @alykhansatchu
sady_sadz CC @alykhansatchu @bobcollymore RT @michaelj2: I am here
because both are my friends. Also if not here I will have to be at the
Jb_mag#mindspeak n i like bobs shirt!!!! #nohomo cc @alykhansatchu
sapion karasha skarasha RT @alykhansatchu: 753,000 Shareholders keep
me up at Night www.rich.co.ke #Safaricom #Kenya #Mindspeak we have
M-Pesa and Data
"@alykhansatchu: #Mindspeak #Safaricom
http://www.rich.co.ke/rctools/mindlive.php #Nairobi #Africa" watching
live stream at home! #Awesome!
Sadia Ahmed sady_sadzCc @alykhansatchu @bobcollymore RT @Ndich:
@sady_sadz Well good luck! I wish I could say the same. M watching on
the internet from #Germany.
Mpisha You cannot outsource quality'-@bobcollymore @alykhansatchu #mindspeak
TerryanneChebet Yet again I miss @alykhansatchu's mindspeak with
@bobcollymore! Can't wait to get done with school to be part of this
RT @alykhansatchu: #Safaricom #Mindspeak I grew up in a rural
Community 1st time I saw a TV was when I was 16 @bobcollymore
# NjorogeT Winding down fantastic day after #Mindspeak w/ brainiac
@alykhansatchu, brilliant @BobCollymore, & simba @michaelj2. #Wow!
# fredgituthu @bobcollymore it was a pleasure speaking with you at
Mindspeak @alykhansatchu thanks for creating a forum for Nairobi's
Elite as Bob put it.
NjorogeT A world of thanks to @alykhansatchu for the brilliant idea of
Michael Joseph was in the Audience and really it was just an
Outstanding Way to End the Year.
Before the Off Twitpic Bob Collymore and Michael Jospeh
I think I took that Photograph at 10 to 10 and Bob said to me, Its
hardly a Full House.
I said You watch.
10 minutes later You could not get in.
#Mindspeak and Other Interviews RICH TV
Buy More Gold.
The Breakfast Commodity Index.
I have booked Christmas Day here at Finch Hattons Tsavo
Denys Finch Hatton
I am looking forward to seeing the Red Elephants of Tsavo
And showing them to Hannah.
And Then we will go to Mombasa where my Dad's Neighbiour and our
Family Friend Mustaq Dar tells me the Peacock has given Birth to five
THE ROVING EYE Cracks in the wilderness of mirrors Pepe Escobar
Law & Politics
The temptation to see WikiLeaks as a neo-Baudelairean artificial
paradise - the marriage of libertarian anarchism and cyber-knowledge -
could not be more seductive. Now no more than 40 people are helping
founder Julian Assange, plus 800 from the outside.
All this with a 200,000 euro (US$264,000) annual budget - and a nomad
home base. WikiLeaks spokesperson Kristinn Hrafnsson maintains that
this is still a "gateway for whistleblowers", where sources are
unidentified and even unknown. You can get a whistleblower to show the
emperor has no clothes with just 200,000 euros - just as someone, be
him Osama bin Laden or not, could usher the real "new world order" in
on 9/11 with $500,000.
The book of sand
Let's examine Assange's crime. Here he is, in his own words, in "State
and Terrorist Conspiracies":
To radically shift regime behavior we must think clearly and
boldly for if we have learned anything, it is that regimes do not want
to be changed. We must think beyond those who have gone before us, and
discover technological changes that embolden us with ways to act in
which our forebears could not. Firstly we must understand what aspect
of government or neo-corporatist behavior we wish to change or remove.
Secondly we must develop a way of thinking about this behavior that is
strong enough to carry us through the mire of politically distorted
language, and into a position of clarity. Finally we must use these
insights to inspire within us and others a course of ennobling, and
So Assange understands WikiLeaks as an anti-virus that should guide
our navigation across the distortion of political language. If
language is a virus from outer space, as William Naked Lunch Burroughs
put it, WikiLeaks should be the antidote. Assange basically believes
that the (cumulative) revelation of secrets will lead to the
production of no future secrets. It's an anarchic/romantic/utopian
It's vital to remember that Assange configures the US essentially as a
huge authoritarian conspiracy. American political activist Noam
Chomsky would say the same thing (and they wouldn't want to arrest him
for it). The difference is that Assange deploys a combat strategy: he
aims to corrode the ability of the system to conspire. That's where
the metaphor of the computer network fits in. Assange wants to fight
the power of the system, treating it as a computer choking in the
desert sands. Were he alive, it would be smashing to see the great
Argentine writer Jorge Luis Borges penning a short story about this.
On top of writing his own "Book of Sand", Assange is also
counter-attacking the Pentagon's counter-insurgency doctrine. He's not
in "tracking-the-Taliban-and taking-them-out" mode. This is just a
detail. If the conspiracy is an electronic network - let's say, the
(foreign policy) Matrix - what he wants is to strike at its cognitive
ability by debasing the quality of the information.Here intervenes
another crucial element. The ability of the conspiracy to deceive
everyone through massive propaganda is equivalent to the conspiracy's
penchant for deceiving itself through its own propaganda.That's how we
get to the Assange strategy of deploying a tsunami of leaks as a key
actor/vector in the informational landscape. And that takes us to
another crucial point: it doesn't matter whether these leaks are new,
gossip or wishful thinking (as long as they are authentic). The - very
ambitious - mother idea is to undermine the system of information and
thus "force the computer to crash", making the conspiracy turn against
itself in self-defense. WikiLeaks believes we can only destroy a
conspiracy by rendering it hallucinatory and paranoid in relation to
Under this framework it is very enlightening to listen to what eminent
Cold Warrior Zbigniew Brzezinski has to say. He told the US Public
Broadcasting Service that cablegate is "seeded" with "surprisingly
pointed" information, and that "seeding" is too easy to accomplish.
Dr Zbig says that WikiLeaks may have been manipulated by intelligence
services with "very specific objectives". They could be, as he hints,
internal US elements who want to embarass the Barack Obama
administration. But he also suspects "foreign elements". In this case,
the first on the list would be none other than the state of Israel.
An unfiltered Perspective.
Bernanke Says Further U.S. Monetary Stimulus Possible Bloomberg
World Of Finance
Federal Reserve Chairman Ben S. Bernanke said U.S. unemployment may
take five years to fall to a normal level and that Fed purchases of
Treasury securities beyond the $600 billion announced last month are
“At the rate we’re going, it could be four, five years before we are
back to a more normal unemployment rate” of about 5 percent to 6
percent, Bernanke said according to a transcript of an interview
airing today on CBS Corp.’s “60 Minutes” program. The purchase of more
bonds than planned is “certainly possible,” said Bernanke, 56. “It
depends on the efficacy of the program” and the outlook for inflation
and the economy.
Bernanke and other Fed officials have defended the central bank’s
announcement that it will purchase $75 billion in Treasury securities
a month through June to prop up a recovery so weak that only 39,000
jobs were created in November. The unemployment rate last month rose
to 9.8 percent, the highest level since April, the Labor Department
said on Dec. 3, three days after the Bernanke interview.The economy,
which grew 2.5 percent in the third quarter, is so weak that Bernanke
said growth could fizzle out without support. “It’s very close to the
border,” he said. “It takes about 2.5 percent growth just to keep
unemployment stable and that’s about what we’re getting. We’re not
very far from the level where the economy is not self-sustaining.”
Sarah Palin, the 2008 vice-presidential candidate who has said she’s
considering a run for president in 2012, wrote in a Nov. 18 letter to
the Wall Street Journal that “It’s time for us to ‘refudiate’ the
notion that this dangerous experiment in printing $600 billion out of
thin air, with nothing to back it up, will magically fix economic
“We could raise interest rates in 15 minutes if we have to,” he said.
“So, there really is no problem with raising rates, tightening
monetary policy, slowing the economy, reducing inflation, at the
“That time is not now,” he said.
Currency Markets at a Glance WSJ
Euro 1.3350 traded as high as 1.3411 Friday
Yen 82.97 -> down from 83.87 levels
Brazil Real 1.6844
South Korea 1132.10
India Rupee 44.885
The U.S. dollar fell sharply Friday, and the euro topped $1.34 for the
first time since late November, after tepid U.S. job growth reawakened
speculation the Federal Reserve would have to expand its
dollar-bruising quantitative-easing measures.The jobs report “brings
back the nasty prospect that the Fed will have to react more,” a
prospect that’s been pushed to the back burner since the Fed rolled
out its latest quantitative-easing program in early November, said
David Watt, senior currency strategist at RBC Capital Markets.
On Balance, Structurally Rates and by extension the Dollar are going
to remain weaker and for Longer.
Euro versus Dollar INO 3 Month Chart 1.3350
Soft Commodities at a Glance INO
COCOA (NYBOT:CC) CC.Z10.E Dec 2010 (E) 2905 +64
COFFEE (NYBOT:KC)KC.Z10.E Dec 2010 (E) 204.50 +1.10 +0.54%
COTTON #2 (NYBOT:CT) CT.Z10.E Dec 2010 (E) 142.33 +4.99 +3.51%
SUGAR #11 (WORLD) (NYBOT:SB) Mar 2011 (E) 29.50 +1.10 +3.72%
Cocoa is beginning to gain Upside Traction on Cote D'Ivoire News.
Qatar Shares Surge to 2-Year High on Winning World Cup 2022 Bid
Qatar’s shares soared to the highest in more than two years after the
country won the rights to host soccer’s 2022 World Cup, becoming the
first Arab nation to hold the world’s most-watched sporting
event.Qatar National Bank, the emirate’s biggest lender by assets,
climbed to the highest on record. Barwa Real Estate Co., Qatar’s
largest publicly traded property developer by assets, gained the most
since June. The QE Index jumped as much as 7.8 percent to 8,820.09,
the highest since October 2008. The measure rose 3.3 percent at 10:47
a.m. in Doha as all 20 shares advanced.
"Sentiment is understandably flying extremely high," said Akber Khan,
a director at Al Rayan Investment in Doha. "There will be a material
impact on some companies as the government fast tracks billions of
dollars of spending. Banks, real estate and construction related names
would be among the key beneficiaries."
Qatar, projected by the International Monetary Fund to have the
world’s fastest-growing economy this year, plans to more than double
the number of hotel rooms, build nine stadiums and refurbish three
others and construct a rail and metro network for the tournament. The
U.S. estimates that the tournament is worth $5 billion to the hosts.
The country plans to spend $4 billion on the stadium construction and
refurbishment program. With summer temperatures approaching 50 degrees
Celsius (122 Fahrenheit), each facility will be designed with a
solar-powered air-conditioning system. A new 200,000-population city
called Lusail, north of the capital, is scheduled to be built over the
next decade and will feature the stadium that hosts the World Cup
final.Qatar expects to construct a rail and metro network, costing
more than $25 billion, in Doha and extending to cities outside the
capital. It’s also planning the longest bridge in the world to connect
to the nearby island kingdom of Bahrain, and aims to open a new
airport next year.
Soccer ruling body, the Federation Internationale de Football
Association, or FIFA, announced that Qatar won the World Cup bid in
Zurich Dec. 2 after competing with the U.S., Australia, Japan and
South Korea. Russia was chosen to host the 2018 tournament.
Industries Qatar, the second-biggest petrochemicals maker in the
Middle East, advanced 2 percent to 132.1 riyals.
Bahrain’s All Share Index and Kuwait’s gauge gained 0.3 percent.
Oman’s MSM30 Index advanced 0.4 percent. Markets in the United Arab
Emirates are closed today for an Islamic holiday.
Qatar DSM:IND QE Index Bloomberg Visual +29.261% 2010
Ritz Carlton Doha Photo Tour
Years ago and Just before the 2nd Gulf War broke out, I took us all to
the Ritz Carlton in Doha. I was on a Reconnaissance Tour. The
Immigration Officer was himself not ready for the Transformation that
was to come because he viewed my Visit to his Tiny Country as
ultimately misbegotten and practically fell off his Chair when I told
him why I was visiting. The Hotel had this outstanding Chef and we had
a very good time.
I had a Long Call Position on the Schaetz [2 Year Germany] and made
$5m for the Bank during that Week. It was a Sweet Holiday.
Ivory Coast's Gbagbo sworn in despite poll row Reuters
Law & Politics
Laurent Gbagbo was sworn in as Ivory Coast's president on Saturday
after his election victory was rejected by world leaders but accepted
by the army, raising fears of a power struggle.The election commission
said Alassane Ouattara had won the November 28 poll with 54.1 percent
but the top legal body, citing alleged intimidation, scrapped hundreds
of thousands of votes on Friday and handed victory to Gbagbo.
Gbagbo's swearing in was broadcast live on state television, and comes
after the head of the West African country's army declared his
continued allegiance to Gbagbo late on Friday.
"I will continue to work with all the countries of the world, but I
will never give up our sovereignty," Gbagbo said to cheers and the
sound of vuvuzelas after being sworn in.
The African Union said it would send former South African President
Thabo Mbeki to try to seek a solution to the crisis.
Ivory Coast is the world's top cocoa grower and cocoa futures closed
up 2.41 percent to 1,955 pounds on Friday and Ivory Coast's $2.3
Eurobond yielded 11.67 percent, from below 10 percent after round one.
In what diplomats said was an unusually strong endorsement, U.N.
Secretary-General Ban Ki-moon congratulated Ouattara on his win and
called on Gbagbo to cooperate in the transition.
The regional body ECOWAS, led by economic powerhouse Nigeria, also
supported Ouattara's victory. But diplomats in New York said Russia,
whose Lukoil has an exploration block in Ivory Coast, had blocked the
U.N. Security Council from also doing so.
The lack of Security Council consensus on the U.N. position could
encourage Gbagbo to ignore outside pressure.
IMF Cuts South African 2010 Growth Forecast to 3% Bloomberg
World Of Finance
The International Monetary Fund cut its 2010 growth forecast for South
Africa to 3 percent, following the release of lower-than-expected
third-quarter data and a downward revision of growth in the previous
three months.Africa’s biggest economy will probably expand about 3.5
percent next year, Abebe Selassie, the IMF’s division chief for
Africa, said in an interview in Cape Town today. On Sept. 21, the
Washington-based lender said it expected South Africa to grow 3.2
percent this year and 3.6 percent in 2011. The government statistics
agency said on Nov. 23 that the economy expanded an annualized 2.6
percent in the third quarter, less than the 3.3 percent median
estimate of 20 economists surveyed by Bloomberg. The agency also
revised its growth figure for the second quarter down to 2.8 percent
from 3.2 percent.
“There is no silver bullet to try and address the strength of the
Nakumatt seeks Sh1 billion for expansion Business Daily
Retail & Manufacturing
Supermarket chain Nakumatt is in talks with three commercial banks for
a syndicated loan that will be used to finance its on-going branch
expansion.The retail store is hoping to finalise the loan deal of more
than Sh1 billion in the next three weeks.Managing director Atul Shah
said on Friday the loan will be repayable in five years. He was
speaking after the opening of the regional retailer’s new branch in
“We have been restructuring our finances and have settled on a
syndicated loan being offered by three local banks,” said Mr Shah,
adding that the funds will be used for stocking new branches,
including one that is due to be opened in February next year.
Nakumatt’s decision to turn to commercial banks for funds comes after
buy-out talks with a consortium led by London-based private equity
firm Satya Capital collapsed, sending the management back to the
drawing board in its search for a financing plan.
Land Of Hope Time
Head north from nairobi toward Mount Kenya and almost invariably
you'll hit weather. Fog, rain, hail, even snow, all unusual for the
equator but a blessing for Mount Kenya's farmers, who export coffee,
roses, green beans and peas to Europe. Once you pass the mountain and
descend onto the dusty Samburu plain, however, the weather evaporates.
The first town you reach is Archer's Post, a collection of dusty
shacks around a truck stop. From there, says elder Leadisimo Lehgalee,
69, the Samburu are forced to watch the daily deluge over Mount Kenya
while enduring a drought on their land that began in 1997. Inevitably,
jealousy and desperation turn to enmity. "We rob them," says Lehgalee.
"And they rob us back. We raid each other's cattle, and we fight, we
kill, and we die. That's the Samburu life."
The Nairobi Stock Exchange made it an 11 Day Losing Streak.
The NSE20 was down 8.26 points to close at 4376.77 making it a total
6.972% retreat from the 2010 Closing High of 4704.
The NASI closed 0.10 points lower at 97.27 and has retreated just a
whisker below 10% from its 2010 High.
Market Cap was 1.160378 Trillion versus 1.161529 Trillion last time.
Equity Turnover was 332.825m versus 317.822m.
N.S.E Equities - Agricultural
Kakuzi was marked down 9.604% to close at 80.00 and traded 52,700
shares. Kakuzi trades on a Price Earnings Multiple of 4.61 and sits on
Real Estate on the Thika Super Highway and that Land has undergone a
Super Spike. The Land is carried in Kakuzi's Balance Sheet at its
Rea Vipingo traded 2,500 shares and closed 2.87% easier at 15.20.
Sasini Tea firmed 15 cents to close at 12.95 and traded 48,800 shares.
N.S.E Equities - Commercial & Services
shares volume 13,033,900
total turnover 59,212,956
avg price 4.54 Closing Price 4.50 -1.098%
high price 4.60
low price 4.50
last price 4.55
Safaricom traded 2nd at the Nairobi Bourse and closed at an average of
4.54 which got marked down to 4.50. There is Solid 10m+ Buy Side
Demand at 4.50 but Buyers have not seen any reason [what with the
Market on an 11 day losing streak] to push Their Orders higher, yet.
Safaricom trades on a Trailing PE of less than 12.00 and Guidance is
for Double Digit Full Year Growth so I tend to the View that the Price
is oversold. Safaricom traded 13.033m shares worth 59.212m.
Safaricom share price data www.rich.co.ke
Kenya Airways bounced 1.0869% to close at 46.50 and traded a
46.00-48.00 range and 94,200 shares. Kenya Airways saw Outsize Demand
at 42.00 levels twice, reported strong +66% Turnaround 1st Half
Results and if the 2nd Half is equal to the First Half then the
Forward PE is 7.39 and hence attractive.
Access Kenya rowed back 0.3125% to close at 15.95 and traded 275,500
shares. Access Kenya sits 2.57% above its 2010 Closing low of 15.55.
Nation traded 12,000 shares and closed at 160.00.
Standard firmed 50 cents to close at 45.50 and traded 1,800 shares.
ScanGroup was unchanged at 60.00 and traded 13,200 shares.
TPS Serena traded 19,600 shares at 68.00 and unchanged.
CMC Holdings eased 0.41% to close at 12.05 and traded 76,900 shares.
CarGen was marked down 4% to close at 48.00 and traded 100 shares.
N.S.E Equities - Finance & Investment
Kenya Commercial Bank traded 3rd at the Bourse. KCB closed at 21.99
which was marked as 21.75 -1.14% at the Closing Bell. KCB traded a
21.75-22.25 range and 1.345m shares worth 29.595m. KCB trades on a
very Low Forward PE and I expect a Re Rating before or coincident with
the Release of the Full Year Results.
KCB share price data www.rich.co.ke
Equity Bank traded 4th and closed unchanged at 26.00 and traded
884,100 shares worth 22.990m.
Barclays Bank was unchanged at 60.50 and traded a 60.50-61.00 range
and 142,100 shares worth 8.629m. Supply outweighs Demand by a Factor
COOP Bank was unchanged at 19.00 and traded 862,400 shares worth 16.389m.
StanChart was marked down 0.78% to close at 257.00 and traded 19,000 shares.
Centum eased 1.086% to close at 22.75 and traded 484,100 shares.
DTB firmed a shilling to close at 132.00 and traded a 120.00-132.00
range and 90,600 shares worth 11.938m.
NBK eased 25 cents to close at 38.00 and traded 61,600 shares.
NIC traded 57,800 shares and was unchanged at 48.00.
HFCK was marked down a further 2% to close at 24.50 and traded 67,100
shares. HFCK has retreated from 30.00+ 2010 Highs.
CFC StanBic eased 1.26% to close at 78.50 and traded 3,200 shares only.
Kenya Re eased 5 cents to close at 11.40 and traded 106,900 shares.
Jubilee was unchanged at 189.00 and traded 600 shares.
PanAfric did not trade.
Olympia Capital closed at 6.45 and traded 7,500 shares
N.S.E Equities - Industrial & Allied
EABL was the most active share at the NSE today and firmed 0.97% to
close at 208.00 and was trading at 210.00 +1.94% into the Close. EABL
traded a 205.00-210.00 range and printed a 225.00 all Time Closing
High 10 Trading sessions ago from whence it retreated 8.44% before
turning around today. EABL traded 436,300 shares worth 90.777m.
EABL share price data from www.rich.co.ke
Kenya Power retreated 3.157% to close at 23.00 and traded a
22.75-23.25 range and 233,100 shares. The Rights Issue Price is 19.50.
Kenya Power Rights retreated 5% to close at 2.85 and traded 987,800 shares.
KenGen bounced 1.524% to close at 16.65 and traded 229,800 shares.
Cables traded 13,800 shares and firmed 5 cents to close at 15.55.
KenolKobil have released a Statement expressing surprise at the
Decision to Introduce Price Caps and reiterating 'Bullish' Full Year
Earnings Guidance. KenolKobil rallied 1.02% to close at 9.90 and
traded 846,700 shares.
Total bounced 50 cents to close at 29.50 and traded 3,000 shares.
Mumias Sugar closed unchanged at 9.55 and traded 406,600 shares and
was unable to get any Traction from a Kestrel Upgrade.
Bamburi Cement rallied 1.04% to close at 194.00 and traded 77,200 shares.
ARM was unchanged at 172.00 and traded 52,900 shares.
Portland did not trade.
BOC Kenya bounced 6.42% to close at 149.00 and traded 1,100 shares.
Carbacid traded 500 shares at 145.00 and unchanged.
Unga bounced 6.4% to close at 10.80 and traded 400 shares.
Eveready bounced 3.38% to close at 3.05 and traded 72,700 shares.
Sameer was unchanged at 5.55 and traded 16,300 shares.
BAT was marked down a shilling to close at 277.00 and traded 1,600 shares.
Crown Berger traded 1,000 shares at 32.25 unchanged.