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Satchu's Rich Wrap-Up
 
 
Monday 31st of August 2020
 







27-JAN-2020 :: “But it is a curve each of them feels, unmistakably. It is the parabola.''
World Of Finance

 “But it is a curve each of them feels, unmistakably. It is the parabola. They must have guessed, once or twice -guessed and refused to believe -that everything, always, collectively, had been moving toward that purified shape latent in the sky, that shape of no surprise, no second chance, no return.’’

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The just Fed printed $2.8T in 6 months. Reduced rates to 0%. Deficits shot up to WW2 levels. @TaviCosta
World Of Finance

Would you have guessed that policy makers would still be fighting DEFLATION? None of us own enough gold.

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Shiite Muslim worshippers gather to commemorate the martyrdom of Prophet Mohammad's grandson Imam Hussein, during the #Ashura period of the Islamic month of Muharram Najaf @AFPphoto @AFP_MENA
Misc.

Shiite Muslim worshippers gather to commemorate the martyrdom of Prophet Mohammad's grandson Imam Hussein, during the #Ashura period of the Islamic month of Muharram, in Iraq's holy city of Najaf on August 29, 2020. @AFPphoto

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[I have been reading a] Fascinating Book Marc Rich The King of Oil ~
Minerals, Oil & Energy

One of the most successful and controversial commodities traders in recent history and a key figure in the invention of the spot market. 

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Big news on TikTok: Beijing is now signaling that the algorithms that power the app are covered by new export controls. That would give China’s government a final say over any deaL @paulmozur
World Of Finance

Big news on TikTok: Beijing is now signaling that the algorithms that power the app are covered by new export controls. That would give China’s government a final say over any deal, and could mean it plans to block a takeover, just as one looks imminent.

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Russia has finally released video footage of the world's largest ever nuclear explosion. detonated over the Arctic in 1961. It was 1,500x more powerful than bombs which hit Nagasaki & Hiroshima... put together @27khv
Law & Politics

Russia has finally released video footage of the world's largest ever nuclear explosion. The (in)famous Tsar Bomba which detonated over the Arctic in 1961. It was 1,500x more powerful than the US bombs which hit Nagasaki & Hiroshima... put together

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That makes 6. Consecutive weeks with every weekday more than 1,000 American lives lost. More than 30,000 deaths in August @EricTopol
Misc.



That makes 6. Consecutive weeks with every weekday more than 1,000 American lives lost. More than 30,000 deaths in August @COVID19Tracking

 

Substantially exceeding projections in recent days

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According to @JohnsHopkins the total number of confirmed COVID cases has reached 25 million. @redouad
Misc.



Daily cases have stagnated in August due to very different regional dynamics:

• A decrease from a recent peak in the Americas, Oceania, Africa

• A continuous increase in Asia and Europe

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India sets global record with single-day rise in coronavirus cases
Asia

India on Sunday reported the biggest single-day jump in coronavirus infections of any nation in the COVID-19 pandemic, as the epicentre shifts to the south Asian giant.


India’s 78,761 cases exceeded the 77,299 recorded in the United States on July 16, a Reuters tally of official data showed.

The world’s second-most populous nation is, with 3.54 million cases, the third-hardest hit by the pandemic, following the United States and Brazil, but its daily tallies have exceeded those of the other two countries for almost two weeks.

The COVID-19 death toll in India jumped by 948 to 63,498, the federal health ministry data showed.

Maharashtra, India’s wealthiest and most urbanised state, recorded 331 fatalities, the steepest single-day increase among all states, followed by the southern state of Karnataka with 136 deaths.

Despite the surging case numbers, Prime Minister Narendra Modi has been pushing for a return to normalcy to lessen the economic pain of the pandemic, having earlier imposed strict lockdowns of the country’s 1.3 billion people.

The federal home ministry has decided to let underground train networks reopen with some restrictions in New Delhi, India’s capital of about 20 million people.

The subway will start running on Sept. 7 for the first time since March, when India imposed the world’s strictest lockdown to contain the spread of the new coronavirus.

Cinemas, swimming pools, entertainment parks and other such places will remain shut.

The lockdown has led to large-scale job losses and an economic slump.

India’s deepest recession on record will persist all year, as a resurgence has squelched a nascent rebound in consumption and business activity, a Reuters poll showed.


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#COVID19 and the Spillover Moment
Misc.

We are witnessing a Spill Over into EM and Frontier Geographies

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Global cases plod along with R seemingly happy at 1. But there is a sting in the tail. @video4me
Misc.




>10%: Myanmar¹⁶⁴

>5%: Jamaica¹³⁹ Trinidad and Tobago¹⁴⁵ Belize¹⁶² Bhutan¹⁸⁶ Curaçao¹⁹⁴ Caribbean Netherlands²⁰⁷


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CHINA CDC REPORT: Possible spread of SARS-CoV-2 between Apt units through plumbing system. This points to possible diffusion of aerosols through sewage pipes. @AliNouriPhD
China

CHINA CDC REPORT: Possible spread of SARS-CoV-2 between Apt units through plumbing system. Evidence of SARS-CoV-2 in vacant 16th floor restroom, right above a 15th floor restroom used by persons w/COVID-19. This points to possible diffusion of aerosols through sewage pipes.

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The @WHO is monitoring online conversations and emotions, using “social listening” to change COVID narratives
Misc.

The World Health Organization is collaborating with an analytics company to scan people’s social media conversations for “coronavirus misinformation;” something the WHO calls “social listening.”


The global health organization says that it’s not only fighting the pandemic but also the conversations people are having about it.

According to the WHO, there’s an “infodemic” – an overload and spread of misleading information, so much so that it decided that to tackle misinformation, it needs to employ various tools, including social listening, with machine learning monitoring.

“Countering fake news or rumors is actually only responding or mitigating when it’s too late,” said Tim Nguyen, a technology expert helping the WHO’s unit titled Information Network for Epidemics (EPI-WIN). “What we’ve put in place in the beginning of the pandemic is what we call a social listening approach.”

The company has been creepily scanning more than 1.6 million social media posts each week to monitor online conversation. It then uses machine learning to classify information into four topics; cause, illness, interventions, and treatments. The WHO’s aim is to learn the coronavirus topics that are gaining popularity so that it can then create its own content to counteract and attempt to change the narrative.



The WHO’s “social listening” goes beyond analyzing people’s conversations for content, it also tries to analyze their emotions. Through language analytics, the technology detects emotions such as sadness, acceptance, denial, and anxiety. With such insights, the WHO hopes to come up with effective strategies to adjust coronavirus narratives.

“What we’ve learned now, after two and a half months of doing this kind of analysis, is that there are recurring themes and topics that are coming back over and over again,” Nguyen explained. “What that means to us is that we need to re-push information at different times. People may not understand it the first time when we push it, but when the questions and issues come up later, it means it’s time to push it out again.”

The health organization recognizes that not everyone has access to social media. So, it is working with the UN Global Pulse to use AI and big data to apply social listening to radios, which are the most common source of information for people without access to the internet. The UN Global Pulse is already applying social listening in Uganda, where they try to tackle rumors that coronavirus can be treated with natural remedies.

“You need to have a certain degree of good information out there to reach populations so that they are inoculated and not susceptible to fake news or disinformation. We believe we need to vaccinate 30% of the population with ‘good information’ in order to have a certain degree of ‘herd’ immunity against misinformation,” Nguyen said.


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Furin Cleavage Site Is Key to SARS-CoV-2 Pathogenesis @TheMenacheryLab
Misc.

Article Summary: A deletion of the furin cleavage site in SARS-CoV-2 amplifies replication in Vero cells, but attenuates replication in respiratory cells and pathogenesis in vivo. Loss of the furin site also reduces susceptibility to neutralization in vitro.

Sequence analysis indicates that the novel coronavirus (CoV) has an insertion of a furin cleavage site (PRRAR) in its spike protein. Absent in other group 2B CoVs, the insertion may be a key factor in the replication and virulence of SARS-CoV-2


furin cleavage sites have been observed in other virulent pathogens like HIV, avian influenza strains (H5 and H7) as well as Ebola 11. In fact, furin cleavage sites are found in a number of other CoV family members including MERS-CoV, HKU1-Cov, and OC43-CoV 12,13; given the range of disease associated with these CoV strains, the furin cleavage site does not necessarily predetermine virulence. However, given its absence in other group 2B CoVs and the major differences in disease compared to SARS-CoV,

a better understanding of the role of the furin cleavage site during SARS-CoV-2 infection is needed.


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Currency Markets at a Glance WSJ
World Currencies

Euro 1.1901

Dollar Index 92.329

Japan Yen 105.58

Swiss Franc 0.9041

Pound 1.3337

Aussie 0.7347

India Rupee 73.4125

South Korea Won 1184.87

Brazil Real 5.3925

Egypt Pound 15.8734

South Africa Rand 16.581

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Market positioning is hard to measure and the futures market positioning tends to get too much focus; Actual positioning is less one-sided. Our bottomup real-money fund tracking illustrate: underweight EUR! @jnordvig
World Of Finance

Market positioning is hard to measure and the futures market positioning tends to get too much focus; because it is easy for everybody to access (free, weekly data from CFTC). Actual positioning is less one-sided. Our bottomup real-money fund tracking illustrate: underweight EUR!

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South Africa's fiscal deficit rose sharply in July, mostly due to higher primary spending. @SergiLanauIIF
Africa

We are on track for a big deficit and a heavy burden on the local financial system that will have to absorb an unprecedented amount of bonds given lack of foreign demand & limited SARB role

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Diageo Nigeria Unable to Refinance Loan on Dollar Shortage
Africa



Diageo Plc’s Nigeria unit said it’s struggling to refinance a foreign-currency loan and trim costs following a shortage of dollars in Africa’s largest economy.

Guinness Nigeria Plc is weighing options to manage a $23 million debt as a lack of liquidity in the local foreign-exchange market has made it difficult to refinance, Stanley Njoroge, finance and strategy director, said on an investor call in Lagos on Friday.

“We will want to refinance it but there is no foreign currency in the market at the moment,” he said.

The brewer of Guinness Stout is looking to roll over the loan which matures in May next year, but is yet to decide whether to keep it as a dollar debt or convert to a local-currency loan. 

Nigeria’s second largest brewer’s outstanding debt rose 16% to 23.2 billion naira ($60 million) as of June compared with a year ago, while finance costs rose 74% to 4.5 billion naira.

Nigerian companies are struggling to access the greenback after a slump in oil prices cut export earnings, putting pressure on the central bank’s capacity to meet dollar obligations to investors and businesses. 

“Foreign exchange is a big concern for us,” Njoroge said.

Guinness Nigeria made a net loss of 12.6 billion naira for the full year through June compared with a profit of 5.5 billion naira a year ago, according to its filing on the Nigerian Stock Exchange on Friday. 

Revenue dropped by 21% to 104.4 billion naira.

The company will prioritize stout, spirit and malt brands in 2020 and focus less on lager as it aims to grow the business and cushion the impact of the Covid-19 pandemic on operations, Njoroge said.

“We don’t have the right price in lager,” he said.

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December 9, 2019 Time to Big Up the Dosage of Quaaludes
Africa

This week Moody’s Investor Services downgraded Nigeria to negative and we learnt that Foreign Investors are propping up the Naira to the tune of NGN5.8 trillion ($16 billion) via short-term certificates. Everyone knows how this story ends. When the music stops, everyone will dash for the Exit and the currency will collapse just like its collapsing in Lusaka as we speak. Nigeria matters and it has not posted positive GDP growth above its population growth for a number of years. Essentially Baba Go Slow’s Nigeria is in reverse gear as is Ramaphosa’s South Africa which reported -0.6% Q3 2019 GDP.

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Africa - @WHOAFRO SitRep ''Kenya has limited laboratory testing due to inadequate laboratory reagents in some testing centres." @NCoVAfrica
Africa

"Cabo Verde, Eswatini, Equatorial Guinea, DRC & Congo have a shortage of laboratory reagents and test kits. 

Kenya has limited laboratory testing due to inadequate laboratory reagents in some testing centres."

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Revealed: The @CIA and MI6’s secret war in Kenya @dailymaverick @nshabibi
Africa

A day before being killed in August 2019, 45-year-old motorcycle taxi driver, Mohamed ‘Modi’ Mwatsumiro was heard arguing with his wife at their tin roof dwelling in the small town of Ngombeni, on the south coast of Kenya. 


Modi had ordered her to leave with their young child and stay with her family.

“Even though she really tried to resist, he was insistent that she must leave with the child. He became aggressive and she had to give in. It was as if he was expecting something to happen that night,” a neighbour told Kenya’s leading newspaper hours after Modi was killed.

It is not known whether Modi had asked his wife to leave because he feared he was a marked man, but Kenyan police suspected he was linked to a suicide bomber involved in the DusitD2 hotel complex terrorist attack in Nairobi in January 2019, which killed 21 people including a US citizen. 

Somalia-based group al-Shabaab, which is designated as a terrorist organisation by the US and British governments, among others, claimed it had ordered the operation in retaliation for the US decision to relocate its embassy in Israel to Jerusalem.

Eight months later, on 30 August, the same Kenyan paramilitary team that swept in to repel the DusitD2 attackers reappeared, this time at Modi’s mud-stone home which sits among thickets of coconut palms, cashew and neem trees.

What followed took a familiar pattern for night time counter-terror raids in Kenya, many of which remain shrouded in mystery and rumour. 

At just after 4am, Kenyan paramilitary commandos arrived in unmarked vehicles, armed with US-made M4 assault rifles and Glock pistols. 

Ordering concerned neighbours to stay indoors, the plainclothes officers stormed Modi’s home.

After the commandos breached his property, Modi hurled a grenade that failed to detonate, police later claimed. 

Seldom does a suspect emerge alive in such raids. Modi was no exception.

A covert war



The commandos who raided Modi’s home belong to the Rapid Response Team (RRT), a clandestine ‘special team’ of the Kenyan paramilitary General Service Unit’s Recce Company. 

The RRT was set up, equipped, trained and is guided on tactical counter-terror operations by America’s Central Intelligence Agency (CIA), a Declassified investigation can reveal. 

The secretive Kenyan team is informally known as the Rendition Operations Team and is composed of around 60 police commandos.

The CIA’s covert programme, which began in 2004, is managed by a paramilitary liaison officer at the US embassy in Kenya’s capital Nairobi, but has until now successfully avoided public scrutiny. 

Based on interviews with over two dozen CIA, US State Department and Kenyan intelligence, paramilitary and police officers, this investigation has found that in its 16 years of operation, the CIA-backed team has been responsible for the capture of high-value terror suspects, as well as rendition operations, killings and alleged summary executions.

The creation of the RRT was “an indigenous solution to an indigenous problem”, a former senior CIA counter-terrorism official told this investigation. 



Former deputy chief (operations) of the CIA’s Counterterrorism Center, Henry Crumpton explained the nature of the war on terror in Kenya. “It’s a different type of conflict, a different type of war. And it is intelligence-driven.” 

Crumpton, who led the CIA’s war in Afghanistan in 2001, continued, “I think that’s why the CIA really has had the lead in many areas, long before any others, because the CIA was there and the CIA was providing value to those partners and the operations, whether they are diplomatic or law enforcement or military, even economic, all those instruments of statecraft, they’re all informed and driven by the intelligence. That’s the foundation for this conflict.”

A former senior US official based in Africa with knowledge of US-Kenyan counter-terrorism operations said that the same agencies, CIA and MI6, also determined the fate of the target. 

“It’s the intelligence services identifying the threat, figuring a way out to mitigate the threat, figuring out that this is going to be a law enforcement end state [capture] or not [kill] and then dealing with it”. 



The decision around the fate of a given target would be decided “between us [the CIA] and your guys on the intel side [MI6]”, the former US official continued. 

“We had these conversations about ‘what are we going to do with this [or that] guy?’. You know given these set of facts, what can we do with these guys?” 

Modi’s post-mortem report references seven gunshot entry wounds from RRT fire: two to his left elbow, another in the right forearm, two in his chest and a further two gunshots wounds in his left upper jaw, with exit wounds in his lower jaw.

“We knew him,” Modi’s neighbour Ali Matete told reporters the day after the killing. 

“He conducted his prayers here, in this area, and in our mosque. But we do not know what he did. When we saw the incident today, we asked ourselves [what is going on] because we’re in darkness.” 

Just over a month after Modi was killed, RRT paramilitaries were in action again, in a dawn raid on a house in neighbouring Mombasa county. 

Police alleged the men inside were linked to Modi and had planned to launch terror attacks. 

After another alleged “shootout” the three suspects emerged in body bags.

While the precise number of RRT kill or capture raids against terror suspects is unknown due to the clandestine nature of the force’s operations, Declassified has investigated over a dozen cases. 

In many instances, suspects raided by the RRT have ended up dead, with a police spokesperson subsequently claiming the target was armed and dangerous. 

But this investigation has also found cases of mistaken killings and alleged summary executions. 

Khelef Khalifa, chair of Kenyan human rights organisation Muhuri, said: “When these extrajudicial killings happen, Muslims feel they are under siege because they cannot comprehend why the government cannot arrest these people and take them to court, instead of killing them.” 

Intent on remaining in the shadows, once suspects are “neutralised” – killed or captured – the plainclothes commandos of the RRT hand control of the operation to local police; typically Kenya’s Anti-terrorism Police Unit (ATPU). 

In doing so, the RRT successfully avoids scrutiny – let alone accountability – for operations now spanning over a decade.

So, too, does its American backers.

“The present government targets [people] in extrajudicial killings. And takes out people in Mombasa, like Rogo,” former Kenyan vice president, Kalonzo Musyoka said, referring to the late cleric Aboud Rogo who was killed by an unidentified hit squad in 2012. Police reports after Modi was killed claimed he had been radicalised by Rogo.

Describing the killings as “unconstitutional”, the former Vice President added: “This has spread bitterness…but because we are doing the bidding of the West in the war on terror, they are allowed to.”

RRT commandos and their American backers stressed that the Kenyan force is not strictly a ‘kill team’ in the way ‘Tier 1’ special force units, such as Delta Force and Seal Team 6, can and do receive express orders to take out targets. 

“It’s not the same as having Seal Team 6 go after a target…[but] it’s not like it’s going to be investigated if it ends up in a military end-state [killed]”, the former senior US official explained.

However, in a case investigated by Declassified, an officer confided that the unit was explicitly tasked to “eliminate” a high-value terror suspect, only to wrongly kill a family man. 

In two other cases, witnesses say the suspects were killed by RRT commandos without any armed resistance.

The former senior US official added, “There’s never a real investigation by the Kenyan government. They don’t want to get to the bottom of it. It’s just not going to happen.”

Mistaken killing


Defenders of the RRT say it has been instrumental in neutralising the threat from al-Shabaab. While the Kenyan and international press have made no mention of the RRT’s central role in counter-terrorism operations, multiple US and RRT sources confirmed that the CIA-supported team played a lead role in successfully neutralising the Garissa and DusitD2 attackers. 


“He was a religious person and the Kenyan government goes after religious people,” Faraj’s wife Rahma Ali said. “Several people had died in such scenarios. I thought he’d be killed.”

Mombasa had already witnessed a string of unexplained killings of radical Muslim figures. Two months prior to Faraj’s killing, unknown assailants gunned down the radical cleric, Aboud Rogo, sparking three days of riots. 

The raid that unfolded at Faraj’s home was reported as being by Kenya’s ATPU, but this investigation has learned that it was in fact led by the CIA-supported RRT.

According to a Kenyan officer briefed on the operation, on the night of the raid the team was, in fact, hunting for Fuad Abubakar Manswab, the alleged mastermind of a foiled 2011 terror attack in Mombasa, whom authorities believed to be hiding in the neighbourhood. Manswab was thought to be “armed and dangerous and someone who can engage and kill,” the officer said, noting that “he escaped a prior operation with a wound”. So the RRT were instructed to “eliminate” him.

But the Kenyan officer, corroborating further accounts obtained by Declassified, recounted how an intelligence informant mistakenly led the paramilitary team to Faraj’s home, believing that Manswab was there. 

“The operation’s target was somewhere else, but there was some mix-up and they headed to the wrong house,” the officer said.

Unaware they were targeting the wrong home, the commandos broke down the door and fired tear gas inside. 

Faraj took his wife’s hand as they climbed out of their bedroom window, hoping to scale their neighbour’s wall and reach the safety of his brother’s nearby home. They never made it.

Faraj’s wife, Rahma Ali, remembers watching the commandos open fire on her husband, who was balanced on a flowerpot trying to climb the wall. 

They hit him in the temple, and he fell back on top of her, blood streaming from his head.

Fearing that the commandos would kill her too, Ali, who was covered in Faraj’s blood, says she played dead next to him. 

In plainclothes but, according to Ali, sporting body armour and M4 carbines supplied by the CIA, the operatives approached and stood over the couple, surveying their kill. 

As she lay terrified on the floor, Ali heard one of the commandos say they should make sure she was dead. But the man’s superior overruled him, declaring, “We’ve finished the job.”

Kill or capture



Faraj’s killing epitomised a shift in RRT priorities. Initially designed and trained to capture terror suspects for detention, interrogation and possible rendition to other countries, its objectives appear to have shifted mid-way through President Obama’s first term in office, at a time when suspects in Kenya became harder to capture.

“In the days before, these guys [terror suspects] were never violent and never armed”, explained a former ATPU officer who shadowed RRT commandos on multiple tactical operations. “So it was not hard to arrest them. It’s only after 2011, when Kenyan forces went into Somalia and Kenya became a legitimate target, so they are always armed. They brought a lot of arms into Kenya…[and] they can really give a good fight. So that is where the use of the Recce [RRT] came in.”

By 2011, America’s preferences for dealing with terror suspects had already been embraced in the war in Afghanistan in the form of the Joint Prioritised Effects List (JPEL), a US-UK secret list of priority targets designated for kill or capture, the former senior US official based in Africa said. 

Describing JPEL targets as a list of problems to be “eliminated”, the former official continued, “That’s the mentality that carried over. I’m sorry to say, and it sounds obnoxious to say it, but it’s something we did there [in Kenya].”

Current and former members of the RRT stressed their objectives prioritise capture over killing. However, they all confirmed that any perceived threat or resistance from targets is to be met with lethal force.

“I don’t have to shoot if I don’t see your hand”, a RRT officer said, describing the team’s rules of engagement. 

“Because the hand is the most dangerous part…But if you have something in your hands, I don’t have to spare you because you mean danger to me.”


However, while al-Shabaab’s attack on DusitD2 claimed fewer casualties than the earlier Westgate and Garissa attacks, experts described the raid as “representing a new and dangerous phase in the group’s evolution”, since it was the first major operation relying on Kenyan nationals of non-Somali descent.

Capitalising on the DusitD2 attack, in September 2019 al-Shabaab car bombers hit US and European military bases in Somalia. While the operations missed their targets, within two months a group of UN experts declared that al-Shabaab’s use of improvised explosive devices reached its “greatest extent in Somali history”.

For critics of the West and Kenya’s war on terror, recent events are ominous. “We are being hit all the time. Because we are being seen as pro-American, pro-West”, former Kenyan vice president Kalonzo Musyoka said. “It’s not a matter of if, but a matter of when we get attacked again. For as long as we have our troops inside Somalia.”

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Nation Media Group reports H1 2020 Earnings here
N.S.E Equities - Commercial & Services


Par Value:                  2.50/-

Closing Price:           12.80

Total Shares Issued:          188542286.00

Market Capitalization:        2,413,341,261

EPS:             4.5

PE:                 2.844

Nation Media Reports H1 2020 Earnings through June 2020

H1 Turnover 3.2639b versus 4.54804b

H1 Gross Profit 2.6227b versus 3.6108b

H1 [Loss] Profit before Income Tax and exceptional Item [145.4m] versus 651.9m

H1 Exceptional Items [182.6m] versus [71.1m]

H1 [Loss] Profit before Tax and after exceptional Item [328m] versus 580.8m

H1 [Loss] Profit after Tax [375.2m] versus 403.7m

H1 EPS [1.9] versus 2.2

Commentary 


"Advertisers faced devastating financial challenges, scaled down operations and held back marketing activities in a fight for survival and several closed down..."


Conclusions

We have not reached the Nadir in Earnings yet 

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Longhorn Kenya Ltd reports FY Earnings
N.S.E Equities - Commercial & Services


Par Value:                  

Closing Price:           4.77

Total Shares Issued:          369940476.00

Market Capitalization:        1,764,616,071

EPS:             -0.61

PE:                 7.119

  

A leading Publishing firm in East Africa.

Full Year Results through June 30th 2020

FY Revenue 1.067926b versus 1.600397b -33%

FY Cost of Sales [580.645m] versus [694.589m]

FY Gross Profit 487.281m versus 905.808m

FY Expected Credit Losses [69.122m] versus [2.296m] 

FY Other Operating Expenses [539.396m] versus [543.175m]

FY Finance Costs [151.929m] versus [96.369m]

FY [loss] Profit before Tax [295.354m] versus 263.968m

FY [loss] Profit After tax [225.87m] versus 185.125m

Cash and Cash Equivalents 115.769m versus 73.128m 

H2 -62%

Tanzania +33%

Uganda -15%

Conclusions

COVID-ed 

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This has been my preferred Elliott Wave count on the NSE 20 share index for sometime. @mnandii
N.S.E General

I am however relegating it to an alternate count after considering the structure that the latest developments have made apparent now.

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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August 2020
 
 
 
 
 
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