WORLD – KMAUPDATES

Jan222021 by TUMUTEGYEREIZE WILBERNo Comments

South African Stocks Drop, Oil Drops 2% on Demand Concerns, South African Rand Weakens, European Equities Extend Losses on Friday.

AFRICA, Business, EUROPEAN UNION, INTERNATIONAL, USA, WORLD, World Bank

South African Stocks DropThe FTSE/JSE All Share Index in South Africa fell 0.4% to around 63,912 on Friday, as investors paused for breath after a massive rally driven by hopes of additional fiscal stimulus in the US. At the same time, renewed concerns over increased restrictions and escalating coronavirus infections weighed on market sentiment. Oil Drops 2% on Demand ConcernsOil was down almost 2% on Friday, retreating further from 11-month highs hit in the previous week, with the WTI trading around $52 a barrel and Brent about $55 a barrel amid mounting fears over COVID-19 social restrictions, particularly in China, the world’s biggest oil importer. A new wave of coronavirus infections in China led to lockdowns in the Hebei province and authorities are asking people to stay at home d...

Jan212021 by TUMUTEGYEREIZE WILBERNo Comments

Norway Industrial Sentiment Strongest in 1-1/2 Years, Malaysia Shares Turn Lower, Chinese Yuan Trades Flat, Danish Consumer Confidence Weakens in January

AFRICA, BREAKING NEWS, Business, EUROPEAN UNION, INTERNATIONAL, USA, WORLD, World Bank

Norway Industrial Sentiment Strongest in 1-1/2 YearsNorway's industrial confidence indicator increased to a 6-quarter high of 3.1 in Q4 of 2020 from a revised 2.0 in the previous period. Industrial sentiment has exceeded the historical average of 2.9 for the first time since Q2 of 2019. The industrial morale indicator was positive for both the majority of producers of intermediate goods and consumer goods, while it was still negative for producers of capital goods. The general outlook for Q1 of 2021 is overall somewhat positive, and the proportion with an optimistic view for the coming quarter is higher than in the previous survey, with producers of intermediate and consumer goods have positive expectations. The industry leaders report that total production volume is expected to be at the...

Jan212021 by TUMUTEGYEREIZE WILBERNo Comments

Norwegian Krone Hovers Around 1-1/2-Year High,Stocks in Finland Hit All-time High,South African Rand Hovers Around 2-Week High,Euro Flat Ahead of ECB Policy Announcement

AFRICA, BREAKING NEWS, Business, EAST AFRICA, EUROPEAN UNION, INTERNATIONAL, USA, WORLD, World Bank

Norwegian Krone Hovers Around 1-1/2-Year HighThe Norwegian krone traded around 8.47 per dollar on Thursday, having touched one of its strongest levels since March 2019 earlier in the session, as investors await the outcome of the Norges Bank's monetary policy meeting. Last month, officials left interest rates unchanged and said they would remain at record-low levels until there were clear signs that economic conditions are normalizing. Stocks in Finland Hit All-time HighOMX Helsinki 25 increased to an all-time high of 4828 South African Rand Hovers Around 2-Week HighThe South African rand strengthened for a fourth consecutive day to trade at 14.9 against the greenback on Thursday, its highest level since January 5th, boosted by hopes of a massive fiscal stimulus following the inaugu...

Jan212021 by TUMUTEGYEREIZE WILBERNo Comments

AMERICA’S PRESIDENTS SINCE INDEPENDENCE 1789-2021

INTERNATIONAL, POLITICS, USA, WORLD

YEARPRESIDENTFIRST LADYVICE PRESIDENT1789-1797George WashingtonMartha WashingtonJohn Adams1797-1801John AdamsAbigail AdamsThomas Jefferson1801-1805Thomas JeffersonMartha Wayles Skelton Jeffersondied before Jefferson assumed officeAaron Burr1805-1809Thomas Jeffersonsee aboveGeorge Clinton1809-1812James MadisonDolley MadisonGeorge Clinton1812-1813James MadisonDolley Madisonoffice vacant1813-1814James MadisonDolley MadisonElbridge Gerry1814-1817James MadisonDolley Madisonoffice vacant1817-1825James MonroeElizabeth Kortright MonroeDaniel D. Tompkins1825-1829John Quincy AdamsLouisa Catherine AdamsJohn C. Calhoun1829-1832Andrew JacksonRachel Jackson [Rachel Donelson Jackson died before Jackson assumed office and did not serve as first lady]John C. Calhoun1833-1837Andrew JacksonRachel Jackson [R...

Jan212021 by TUMUTEGYEREIZE WILBERNo Comments

22nd Amendment to the United States Constitution

INTERNATIONAL, POLITICS, USA, WORLD

Amendment XXII Section 1. No person shall be elected to the office of the President more than twice, and no person who has held the office of President, or acted as President, for more than two years of a term to which some other person was elected President shall be elected to the office of the President more than once. But this article shall not apply to any person holding the office of President when this article was proposed by the Congress, and shall not prevent any person who may be holding the office of President, or acting as President, during the term within which this article becomes operative from holding the office of President or acting as President during the remainder of such term. Section 2. This article shall be inoperative unless it shall have been ratified a...

Jan212021 by TUMUTEGYEREIZE WILBERNo Comments

China Shares Climb 1.9%

AFRICA, Business, INTERNATIONAL, WORLD, World Bank

The Shanghai Composite Index jumped 66 points or 1.9% to a near six-year high of 3,633 on Thursday at around 02:00 PM Shanghai time, amid fresh optimism after Joe Biden’s inauguration. Traders were upbeat that Beijing will continue to provide the support needed for its continued economic recovery this year. The PBoC today injected CNY 250 billion into the market after holding left its key interest rates steady for the 9th month at its January fixing on Wednesday. Further adding the bullish tone, the WHO plans to approve several COVID-19 vaccines from Western and Chinese manufacturers in the coming weeks and months. Meantime, there were 144 new infections on Wednesday in the mainland, the highest number of daily new cases since March 1st. Gainers were almost broad-based, led by basic mater...

Jan212021 by TUMUTEGYEREIZE WILBERNo Comments

Australian Shares Hit Fresh 11-Month Highs

AFRICA, Business, INTERNATIONAL, WORLD, World Bank

The ASX 200 lifted 53.30 points or 0.79% to 6823.70 Thursday, closing at fresh 11-month highs after advancing 0.41% in the previous session as strong employment data instilled confidence that the country’s economy was firmly on the path to recovery, while broader risk-on cues boosted investor appetite. Afterpay and Zip Co climbed 5.67% and 23.08% respectively as US futures rallied to record highs overnight after Joe Biden’s inauguration ceremony. In local data, the seasonally adjusted unemployment rate fell to 6.6% in December, the lowest jobless rate since April, as the economy emerged gradually from the COVID-19 shocks, while the Westpac-Melbourne Institute Index of Consumer Sentiment fell by 4.5% to 107.0 in January from 112.0 in December, amid domestic border closures, the recent emer...

Jan212021 by TUMUTEGYEREIZE WILBERNo Comments

Excerpts from Trump’s farewell speech. Still does not admit defeat. But welcomes in a new administration.

INTERNATIONAL, POLITICS, USA, WORLD

Jan202021 by Ronald KabuubiNo Comments

Trump out,Biden in

AFRICA, EAST AFRICA, POLITICS, USA, WORLD

Jan202021 by Ronald KabuubiNo Comments

Trade, conservation top agenda as President Kenyatta hosts UK’s Dominic Raab

AFRICA, Business, EAST AFRICA, EUROPEAN UNION, HUMAN INTEREST STORIES, INTERNATIONAL, KENYA, Kenyan Parliament, POLITICS, UGANDA, UK, WORLD

Nairobi, 20th January 2021, President Uhuru Kenyatta today at State House, Nairobi met visiting United Kingdom's Secretary of State for Foreign, Commonwealth and Development Affairs Dominic Raab who paid him a courtesy call. - President Uhuru Kenyatta with United Kingdom Secretary of State for Foreign, Commonwealth and Development Affairs Hon. Dominic Raab during a courtesy call at State House, Nairobi. The President and the Secretary of State discussed a wide array of subjects key among them the strengthening Kenya-UK commercial ties following the trade deal signed late last year between the two countries. President Uhuru Kenyatta with United Kingdom Secretary of State for Foreign, Commonwealth and Development Affairs Hon. Dominic Raab during a courtesy call at State House,...

Jan202021 by TUMUTEGYEREIZE WILBERNo Comments

US Mortgage Applications Fall for 1st Time in 3 Weeks

AFRICA, Business, EUROPEAN UNION, INTERNATIONAL, USA, WORLD, World Bank

Mortgage applications in the United States fell 1.9 percent in the week ended January 15th, following two consecutive weeks of increases, data from the Mortgage Bankers Association showed. Applications to refinance a home loan dropped 4.7 percent, but were up 87 percent year-on-year; while those to purchase a home rose 2.7 percent, and were 15 percent higher than a year ago. The average fixed 30-year mortgage rate was up 4 basis point to 2.92 percent last week, the highest level since late November.

Jan202021 by TUMUTEGYEREIZE WILBERNo Comments

Inflation in Malta Remains at 0.2%

AFRICA, Business, EUROPEAN UNION, INTERNATIONAL, WORLD, World Bank

The annual inflation rate in Malta sticked to 0.2 percent in December of 2020, unchanged from the previous month. The largest upward impacts came from food and non-alcoholic beverages (1.2 percent vs 2.6 percent in November), mainly due to higher fruit prices; education (4.8 percent vs 4.8 percent), on higher private school fees; and miscellaneous goods and services (1.4 percent vs 1.8 percent) due to higher prices of hairdressing services. Downward pressure came from prices of clothing & footwear (-3.9 percent vs -5 percent); transport (-0.9 percent vs -1.1 percent); and furnishings (-0.7 percent vs -1.6 percent). On a monthly basis, consumer prices declined 0.3 percent, following a 3.4 percent fall in November, amidst a balance between restaurants & hotels prices (-2.7 percent) ...

Jan202021 by TUMUTEGYEREIZE WILBERNo Comments

Uganda elections 2021: Falana drags Museveni to UN over Bobi Wine’s detention

AFRICA, BREAKING NEWS, EAST AFRICA, Entertainment, EUROPEAN UNION, INTERNATIONAL, UGANDA, UN Human RiGHTS, UN Women, USA, WORLD

Nigerian human rights lawyer Femi Falana files a complaint on behalf of Robert Kyagulanyi Aka.Bobi wine to the UN Working Group on Arbitrary Arrest. Nigerian human rights lawyer Femi Falana Femi Falana is challenging the continued illegal confinement of Robert Kyagulanyi Aka.Bobi wine by the Ugandan police and the military!

Jan202021 by TUMUTEGYEREIZE WILBERNo Comments

Philippines Stocks Down 0.7%

AFRICA, Business, COVID-19, EUROPEAN UNION, HEALTH, INTERNATIONAL, WORLD, World Bank, World Health Organization

The PSE Index lost 48 points or 0.7% to 7,151 in early trade on Wednesday, as investors were cautious about local coronavirus cases, with local governments rushing to set up their respective COVID-19 vaccination centers. Meanwhile, President Rodrigo Duterte will be given the virus vaccine once it becomes available in the Philippines, but he will be vaccinated behind closed doors. Risk sentiment was also dragged by adverse events from virus vaccination centers across the world. California’s health department said several people at a center in San Diego were treated for possible allergic reactions to Moderna's virus vaccine. Meantime, Norway is investigating the deaths of 23 elderly patients who had received the Pfizer/BioNTech vaccine. Market participants showed a muted response to reports...

Jan202021 by TUMUTEGYEREIZE WILBERNo Comments

Declaration by the High Representative on behalf of the European Union on the elections in Uganda

AFRICA, EAST AFRICA, EUROPEAN UNION, INTERNATIONAL, POLITICS, UGANDA, USA, WORLD

Jan202021 by TUMUTEGYEREIZE WILBERNo Comments

SENSEX Up 0.3%

AFRICA, Business, EUROPEAN UNION, INTERNATIONAL, USA, WORLD, World Bank

The BSE SENSEX increased 162 points or 0.3% to 49,561 in early trade on Wednesday, ahead of some corporate earnings reports. Market participants were upbeat after US Treasury Secretary nominee Janet Yellen at her confirmation hearing Tuesday pushed for a large fiscal relief aid in response to COVID-19. On the pandemic front, India will start exporting virus vaccines from today, with the first doses going to Bhutan and Maldives. Meantime, there were 13,823 new infections in the last 24 hours in India, taking the total tally to 10.59 million. The technology sector, healthcare, and industrials led the gains. Tech Mahindra and HCL Technologies gained 2.7% and 2.3%, each. In contrast, Tata Communications plunged 6.5% after the government said it would sell its entire 26.12% stake in the compan...

Jan202021 by TUMUTEGYEREIZE WILBERNo Comments

NIKKEI 225 Falls 0.5% on Profit Taking

AFRICA, Business, EUROPEAN UNION, INTERNATIONAL, WORLD, World Bank

The Nikkei 225 retreated 151 points or 0.5% to 28,482 on Wednesday at around 02:00 PM Tokyo time, amid profit-taking after the index hit a 30-year high recently. At the same time, market participants perceived that US Treasury Secretary nominee Janet Yellen's push for massive spending was not a surprise. Meanwhile, US President Donald Trump, in a farewell address released on Tuesday, wished luck to the new administration even though he did not mention his successor by name. In local news, Japan aims to start vaccinating the public against the coronavirus in May after targeted jabs for the most vulnerable. The government is hoping the majority of adults will be vaccinated by July, when the Olympic Games are due to open. Daiichi Sankyo plunge 3.8%. Meantime, ANA Holdings slumped 3.1% after ...

Jan202021 by TUMUTEGYEREIZE WILBERNo Comments

New Zealand Shares Extend Gains

AFRICA, Business, INTERNATIONAL, WORLD

The NZX 50 added 145.14 points or 1.13% to 13026.45 on Wednesday, extending gains of 0.33% after 6 sessions of decline. Global risk-trends resumed after Janet Yellen, President-elect Joe Biden's nominee for Treasury Secretary, called for "big" action on the COVID-19 pandemic and economic crisis at her Senate confirmation hearing Tuesday, noting that " Without further action, we risk a longer, more painful recession now — and long-term scarring of the economy later." The call to action comes days after President-elect Joe Biden, who will be sworn into office on Wednesday, laid out a $1.9 trillion stimulus package proposal to boost the economy and speed up the distribution of vaccines.

Jan202021 by TUMUTEGYEREIZE WILBERNo Comments

Australian Shares Close at 11-Month Highs

AFRICA, Business, INTERNATIONAL, WORLD, World Bank

The ASX 200 gained 27.80 points or 0.41% to 6770.40 on Wednesday, hitting fresh 11-month highs in early trade and settling 0.6% away from all-time highs of February last year. Traders proved optimistic following a declaration from Janet Yellen, US President-elect Joe Biden’s nominee for Treasury Secretary, that a massive fiscal relief package is needed to help the world’s biggest economy emerges from a pandemic-triggered slump. Risk sentiment was also lifted by news that New South Wales had recorded its third straight day without any new COVID-19 cases of community transmission. On the data front, consumer sentiment in Australia slipped 4.5% mom in January, amid the emergence of virus clusters in some states. Traders now await the release of job data for December on Thursday.

Jan202021 by TUMUTEGYEREIZE WILBERNo Comments

China Shares Turn Lower

AFRICA, Business, INTERNATIONAL, WORLD

The Shanghai Composite Index was down 4 points or 0.1% to 3,562 on Wednesday at around 01:45 PM Shanghai time, giving up its early gains, amid concerns over rising local COVID-19 cases ahead of the Lunar New Year holiday in February. China’s capital Beijing reportedly stepped up virus measures, after reporting the biggest daily jump in new cases in more than three weeks. On the data front, the People's Bank of China today left its key interest rates steady for the ninth straight month at its January fixing, while injecting a net CNY 278 billion yuan via reverse repo operations. On business news, Alibaba founder Jack Ma has made his first live appearance since October in a live video meeting on Wednesday morning. In global news, President-elect Joe Biden's is pledging a new path for the na...