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Satchu's Rich Wrap-Up
 
 
Wednesday 26th of April 2017
 
Morning
Africa

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Trump's Tax Plan Said to Seek 10% Levy on Offshore Earnings
Africa


President Donald Trump plans to propose a 10 percent tax on more than
$2.6 trillion in earnings that U.S. companies have stockpiled
offshore, said a White House official familiar with the president’s
tax plans.

Proceeds from the so-called “repatriation tax” would represent a
one-time source of sorely needed revenue, which could offset some of
the deep tax cuts Trump has proposed for businesses -- or could be
devoted toward popular, bipartisan initiatives, like infrastructure
spending.

Conclusions


This will work.

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Elephants 1st September 2013 Amboseli Kenya
Africa


Amboseli National Park, formerly Maasai Amboseli Game Reserve, is in
Kajiado County, Kenya. The park is 39,206 hectares (392 km2; 151 sq
mi)[1] in size at the core of an 8,000 square kilometres (3,100 sq mi)
ecosystem that spreads across the Kenya-Tanzania border. The local
people are mainly Maasai, but people from other parts of the country
have settled there attracted by the successful tourist-driven economy
and intensive agriculture along the system of swamps that makes this
low-rainfall area (average 350 mm (14 in)) one of the best
wildlife-viewing experiences in the world with 400 species of birds
including water birds, pelicans, kingfishers, crakes, hammerkops and
47 types of raptor.[2]

The park protects two of the five main swamps, and includes a dried-up
Pleistocene lake and semi-arid vegetation.

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South Korea Sees Thaad Missile Defense System Ready This Year
Law & Politics


South Korea said a U.S. missile defense system being installed on its
soil has been partly deployed and should be operational by the end of
the year, as tensions mount over North Korea’s nuclear program.

The defense ministry gave the update on the Terminal High Altitude
Area Defense system, known as Thaad, in a text message on Wednesday.
Yonhap news agency earlier reported that U.S. troops began installing
equipment in the southeastern region of Seongju, North Gyeongsang
Province, amid protests from local residents.

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18-APR-2017 :: Machiavelli argued that sometimes it is "a very wise thing to simulate madness"
Law & Politics


Machiavelli argued that sometimes it is “a very wise thing to simulate
madness” (Discourses on Livy).  The madman theory was a feature of
Richard Nixon’s foreign policy. Other than both having tiny little
hands and both possessing nuclear weapons, we are dealing with two
principals whose very raison d’être appears to be escalation.

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The tale of the dictator's daughter and her prince via @ENCorrespondent
Law & Politics


Once upon a time, there was a dictator who had a daughter. The
dictator, who came to power vowing to make his country great, enacted
a series of repressive policies under the guise of nationalism. He
persecuted the media and the opposition, used “war on terror” rhetoric
to justify a clampdown on civil rights, maintained a close but
complicated relationship with Russia, and built a kleptocracy that
ensured the country’s riches lined his pockets.

The daughter seemed different – or at least, she wanted to be seen
that way. She was an Ivy League-educated cosmopolitan socialite who
married into a powerful business family before making her mark as a
fashion designer and businesswoman. Like her father, she encouraged an
avid personality cult; and like her father, she hid her own brutal
practices under the pretext of a soft “feminism”, claiming to
represent the ideal modern woman of her country.

I’m talking, of course, about Uzbekistan president Islam Karimov and
his daughter Gulnara Karimova. That this description evokes the
burgeoning Trump political dynasty should concern you.

For nearly two years, Jared and Ivanka have been
Here’s piece in Vanity Fair on the supposedly "moderating" influence
of Jared and Ivanka. peddled by the press as a “moderating influence”
on her vulgar, bigoted father. They have done nothing to merit this
characterization.

When hate crimes rose in tandem with the Trump campaign, Ivanka and
Jared were silent. When xenophobes like Michael Flynn – the former NSA
head revealed to be a foreign agent – screeched tirades at the
Republican National Convention, Ivanka and her siblings dutifully
followed on stage. When Trump filled his cabinet with white
supremacists like Steve Bannon, Nazis like Seb Gorka, and racists like
Jeff Sessions, Ivanka and Jared did not distance themselves, but
joined the team.

This is not a “moderating influence”; this is complicity.

Here’s more on Kellyanne Conway plugging Ivanka’s fashion line.
peddled on television by Trump’s advisor Kellyanne Conway in a
possible violation of federal law, has her own White House office,
though what she does beyond “advise” her father is not entirely clear.

Jared, who floundered in the real estate and publishing businesses,
has now been tasked with bringing peace to the Middle East, running a
“SWAT” team to streamline the federal government, and serving as an
all-purpose envoy around the world, leading to jokes that he is the
“real Secretary of State”  which would be funnier if the US was not
flirting with war with a number of heavily armed countries.

While once known as international jet-setters,  the pair are now known
for propelling a different kind of aircraft.

We are supposed to believe that Donald Trump, who once  bragged that he
would turn away Syrian refugee children,  suddenly discovered his
conscience through Ivanka, who apparently also just noticed the child
victims of the brutal six-year war.

In response, Trump launched a strike without a strategy at a Syrian
base, accomplishing nothing yet gaining media accolades – “He’s so
presidential,” pundits swooned, before Trump blew it a few days later
by nearly getting into nuclear war with North Korea – all seemingly at
the behest of his daughter,  the handbag designer,
Here are Donald Trump’s remarks about dating his own daughter. whom he
once said he wanted to date.

This is unprecedented and unpresidential in many ways: the casual
violence, the arbitrary policies, the unsettling nature of the
father-daughter relationship, both personal and political. That Trump,
Here’s a piece I wrote for The Globe and Mail on Trump’s hunger for
praise. lapping up media praise, followed up his Syria strike with a
pointless mega-bomb on Afghanistan and a frightening escalation of
rhetoric with North Korea is concerning: What if Ivanka decides it’s
time to take out fellow nuke-bearing millennial Kim Jung Un?

Conclusions

.@IvankaTrump is certainly attractive

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China's first domestically built aircraft carrier. Photographer: The Yomiuri Shimbun via AP Photo
Law & Politics


China launched its first domestically built aircraft carrier,
burnishing President Xi Jinping’s credentials as commander-in-chief
ahead of a Communist Party leadership reshuffle this year.

The warship was floated at a shipyard in the northeastern port of
Dalian in a ceremony attended by General Fan Changlong, second only to
Xi on the Central Military Commission, according to a statement on the
Ministry of National Defense’s website. A bottle of champagne was
ceremonially smashed on the vessel’s bow before the ship was escorted
from dry dock, the ministry said.

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The battle royale in the Indian Ocean is looking pretty one-sided. @bv
Law & Politics


The launch of China’s second aircraft carrier this week is an
important and depressing moment for India. The “Type 001A” -- likely
to be named the “Shandong” -- will give China an edge for the first
time in the carrier race with its Asian rival, a literal two-to-one
advantage. After decommissioning the INS Viraat earlier this year, the
Indian Navy is down to a single carrier, INS Vikramaditya. Worse, the
Shandong has been built at China’s own giant shipyard at Dalian;
Vikramaditya is merely a repurposed 1980s-era Russian carrier formerly
known as the Admiral Gorshkov.

Even more telling than the raw numbers is what China’s progress says
about India’s ability to provide security in its own backyard. Chinese
naval strategists have open designs on the Indian Ocean: According to
one, “China needs two carrier strike groups in the West Pacific Ocean
and two in the Indian Ocean.” The government of Prime Minister
Narendra Modi has talked a great deal about revitalizing the Indian
military; it’s opened the defense sector up to greater foreign
investment and is building a much-closer relationship with the U.S.
military, largely with China in mind. But spending has lagged. Worse,
successive governments simply don’t seem to have thought through where
best to direct those scarce resources.

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August 19th 2013 I have no doubt that the Indian Ocean is set to regain its glory days
Law & Politics


I have no doubt that the Indian Ocean is set to regain its glory days.
China's [and India's] dependence on imported crude oil is increasing
and the US' interestingly is decreasing. I am also certain the Eastern
Seaboard of Africa from Mozambique through Somalia is the last Great
Energy Prize in the c21st.  Therefore, the control of the Indian Ocean
becomes kind of decisive and with control China can be shut down quite
quickly. A Sine qua non of President Barack Obama's pivot to Asia is
US/NATO Power Projection over the Indian Ocean.

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.0930
Dollar Index 98.92
Japan Yen 111.46
Swiss Franc 0.9941
Pound 1.2824
Aussie 0.7500
India Rupee 63.995
South Korea Won 1127.97
Brazil Real 3.1483
Egypt Pound 18.0993
South Africa Rand 13.1276

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Robusta Coffee Extends Plunge That Caught Hedge Funds Unaware
Commodities


Robusta for July delivery lost 1.1 percent to $1,914 a metric ton by
1:53 p.m. in London. Prices are down 13 percent in the past five days
and reached the lowest since September. The beans, used in instant
coffee, are heading for the largest five-day slide since July 2011 in
London.

In New York, arabica coffee added 0.3 percent to $1.323 a pound. The
variety, favored for specialty drinks such as those made by Starbucks
Corp., slumped 9.4 percent in the previous four days.

Other soft commodities have also been falling. Cocoa was down 0.9
percent at 1,411 pounds ($1,809) a ton in London, heading for the
fifth decline in six days. In New York, the commodity lost 0.5 percent
and touched the lowest in almost a decade on Thursday.

White sugar rose 0.3 percent to $470.60 a ton in London. Raw-sugar
futures in the U.S. added 0.2 percent, after falling 1.2 percent on
Monday.

read more


"We are in a crisis, in a price crisis," Valverde said. "The last six months have been terrible, and the forecast is even worse."
Commodities


Cocoa futures in New York have plunged more than 40 percent in the
past year amid a worldwide glut caused by bumper harvests in West
Africa. While many commodities have been saddled by oversupply in
recent years, in markets such as crude oil, producers have been able
to stem price losses by agreeing on output cuts. Now, growers of the
chocolate ingredient plan on working together on strategy.

Ivory Coast, the world’s top grower, had to reduce the price paid to
farmers by 36 percent for the smaller harvest starting this month. The
West African nation was also forced to trim its 2017 budget by a 10th,
President Alassane Ouattara said last week. Cocoa is the country’s
biggest export crop and accounts for about a fifth of the nation’s
shipments. The ICCO is this week inaugurating its new headquarters in
Ivory Coast after 44 years in London.

read more




Emerging Markets


With its Mayan ruins and moonlight raves, Tulum has become Mexico’s
hippest holiday destination. But a spate of violent evictions reveals
a darker side

Frontier Markets

read more


Pizza Hut Enters Ethiopia in Latest Expansion Into Africa
Africa


Pizza Hut is set to open three outlets in Ethiopia this year, becoming
one of the first international restaurant chains to enter Africa’s
second-most populous country.

The shops are scheduled to begin serving in the capital, Addis Ababa,
by November, franchisee Aschalew Belay said in an interview Monday.
Aschalew’s company, Belayab Foods and Franchise, will run the local
outlets of the Yum! Brands Inc. pizzeria and will have invested $5.5
million in the operations by next year, according to his partner,
Michael Ghebru.

Ghana, which has three Pizza Huts, is “absolutely firing,” with the
partner looking to expand to neighboring countries such as Togo,
Davenport said.

Ethiopia’s economy is forecast to grow 7.5 percent this year, the
second-fastest pace in sub-Saharan Africa after Ivory Coast, according
to the International Monetary Fund.

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South Africa to Study Annual Wealth Tax as It Targets Rich
Africa


South Africa’s finance ministry has asked for a study into the
introduction of an annual wealth tax as the government seeks to boost
the standard of living of the black majority.

The Davis Tax Committee, which makes recommendations to the National
Treasury, also requested submissions from the public on the
feasibility of a land tax and a national tax on the value of property
in addition to existing charges, it said in an emailed statement on
Tuesday. It will take comments until May 31 before holding hearings.

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Dollar versus Rand 6 Month Chart INO 13.13 [SELL]
Africa


The rand touched its firmest level since March 30 in the previous
session, rallying as far 12.8800 before pulling back as the greenback
and the euro rallied following first round results of the French
election.

Traders also said technical resistance around 12.9500 had seen selling
out of the rand as investors covered short positions.

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Zimbabwe's "bond note" surrogate currency will not solve its economic problems, the International Monetary Fund said
Africa


"We think that, going down this one (bond) note route, in and of
itself, will not address the challenges that the country has,"
Selassie said, according to a transcript of the media briefing.

"So, it's very important to have a more comprehensive policy package
which also addresses a lot of the fiscal challenges that the country
faces, a lot of the structural reforms that have to be done."

The central bank says it has so far printed $121 million in bond notes
but a high demand for cash has meant that the surrogate currency is
also in short supply.

read more


Zimbabwe's wet season helps with bumper crops
Africa


A year after a state of emergency was declared in Zimbabwe, the
country is now able to export excess food.

read more


Kenyan police disperse protesters over party primaries results
Kenyan Economy


Kenyan police fired teargas on Tuesday to disperse hundreds of people
who took to the streets to protest the outcome of a regional party
primary in the west of the country.

This month's primaries, where voters choose party candidates, have
been a chaotic affair, marked by violent clashes, cancellation of
results and claims of rigging.

The problems have raised fears over the planning for a national vote
on Aug. 8 and whether there may be further violence in Kenya, a key
Western ally in a volatile region and East Africa's largest economy.

Voters will pick a president, parliament and local authorities, a
decade after 1,200 people were killed in ethnic violence following a
disputed presidential election.

Conclusions


Noisy but the Failure by NASA to select their Flag-Bearer is
signalling this is for the president to lose.

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Company CEOs see more staff layoffs in the next six months
Kenyan Economy


Nearly a fifth of Nairobi-based companies plan to reduce staff in the
next six months because of an unfavourable business climate, a study
commissioned by the Kenya Private Sector Alliance (Kepsa) shows.
The survey by TIFA Research says banks, microfinance institutions and
transport companies foresee staff cuts arising from information
technology (IT) disruption and completion of the standard gauge
railway while other sectors expect a slowdown in growth associated
with political uncertainty and harsh weather conditions that have
depressed agriculture.
“Only 30 per cent of the CEOs surveyed expect to hire more people in
the next six months, 52 per cent said their hiring position would
remain unchanged while 18 per cent foresee staff cuts,” Kepsa chief
executive Carole Kariuki said.

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Kenya Shilling versus The Dollar Live ForexPros 103.315
Kenyan Economy


Nairobi All Share Bloomberg -0.47% 2017

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

Nairobi ^NSE20 Bloomberg -1.53% 2017

http://j.mp/ajuMHJ

Every Listed Share can be interrogated here

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

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