Abacus Wealth Management

8 Things You Should Know This Morning

1. Tana River Leaders Vow to End Bloodshed

Community leaders from Tana Delta have pledged to support the disarmament exercise spearheaded by the government. The leaders who held a meeting with Internal Security Minister Katoo Ole Metito have also pledged to hold joint peace meetings between the warring Pokomo and Orma neighbours who have been fighting since August last year.

2. Obama’s Half Brother Seeks Governor’s Office

President Barack Obama’s half brother is following his younger sibling into politics.

Malik Obama, 54, is running for the governorship of Siaya, a county in western Kenya, as an independent candidate. Bloomberg reports Malik Obama made the announcement Sunday, telling a crowd he would use his relationship with the U.S. president to address poverty and unemployment.

3. Java to Expand to Kisumu and Nakuru, Not Homa Bay

Nairobi Java house has been in touch with pesatalk via twitter. They confirm that they are moving to Nyanza province albeit to Kisumu, not Homa Bay as previously thought.

4. Sacked KQ Staff Suffer Blow

The 447 sacked Kenya Airways employees who were supposed to resume duty on Monday next week, on Monday suffered a major setback after a court suspended their reinstatement.

Kenya Airways moved to the Industrial Court last month to seek orders blocking the employees from getting their jobs back until an appeal it had filed against the reinstatement was heard and determined.

5. Fuel Prices Drop Further

Kenyans today woke up to reduced fuel prices as the Energy Regulatory Commission (ERC) reviews fuel prices downwards. A litre of super petrol, in Nairobi, will retail at KES 111.60 from KES 112.61. A litre of Diesel will retail at KES 103.99 down from KES 105.79 while kerosene will retail at KES 83.86 from KES 86.44.

6. Apple shares fall on reports of cuts to iPhone parts order.

Shares in Apple Inc. dipped below $500 for the first time in almost one year after reports it is slashing orders for screens and other components from its Asian supplier as intensifying competition erodes demand for its latest iPhone. Japan’s Nikkei reported on Monday that the world’s largest technology corporation began sharply reducing buying of liquid crystal displays about a month ago from suppliers like Japan Display Inc. and Sharp Corp.
7. Bank in push for a single monetary unit

African Development Bank is stepping in to help East and South African region accelerate the push towards a common currency status. To achieve this, it has drafted a stringent set of financial guidelines to steer the process.

In a new report, the bank notes that efforts to create greater fiscal integration in the Common Market for East and South Africa (Comesa) and other regional bodies have been hindered by lack of clear regulations and the lax manner in which the rules are enforced. Comesa countries have set 2018 as the deadline for the creation of a monetary union.

8. Tullow Puts Daily Oil Production at about 110000 Barrels 

ullow Oil P.L.C is now putting the current production of crude oil at the Jubilee field around 110 thousand barrels.  The announcement was contained in the firm’s trading statement and operational update released on Saturday.

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