China pledges more security support for Kenya, Africa

NAIROBI, Kenya, Oct 16 – The Chinese government has pledged continued support to Kenya and Africa on security issues, in a bid to promote peace and economic development on the continent.

Speaking on Thursday in Nairobi during the China-Africa Peace and Security Cooperation seminar, Chinese Ambassador to Kenya Liu Xianfa said a number of countries on the continent still face serious threats, such as escalating violence and armed conflicts, internal political turmoil, the spread of terrorism and extremism, interweaving of traditional and non-traditional security challenges and as a consequence, an alarming humanitarian crisis.

“Not a single country or continent can stay immune in the face of security problems. The achievement of long-term peace and security in Africa requires joint efforts of Africa and the international community,” he said.

He however urged the international community to let African countries find their own solutions to their challenges.

He said that double standards and taking sides should be avoided, urging the international community not to pursue their own interests and political agenda by taking advantage of peace and security issues in Africa.

“It is the African people who understand the crux of the issues best. The international community should fully respect Africa’s dignity and independence, support Africa to play the leading role and promote inclusive dialogue among relevant parties for seeking solutions acceptable by all parties concerned,” he added.

With the theme “Peace and Security Cooperation: New Vista for Upgraded Version of China-Africa Cooperation,” the seminar will hold an in-depth discussion on the current situation of peace and security in Africa, the opportunities and challenges facing China-Africa peace and security cooperation thus contributing to the long-term peace and stability and sustainable development of Africa.

This comes as Africa continues to face terror threats from various terror groups among them the Somalia based Al Shabaab.

Kenya has led in the war against terror within the East African region following numerous attacks in its capital city Nairobi and Mombasa County.

Kenya Defence Forces are under the Africa Union Mission in Somalia (AMISOM) fighting the militias in the Horn of Africa country.

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MIT Bitcoin Trading Simulation Yields Profit of 89% in 50 Days

Trading bitcoin profitably remains more of an art than an exact science.

On any given day, Reddit is awash with theories explaining bitcoin price movements, ranging from exotic technical indicators to the machinations of FUD (fear, uncertainty and doubt) peddlers.

That may change, however, with a new paper that claims to have devised a trading strategy that can produce an 89% return in less than two months.

The authors, Massachusetts Institute of Technology associate professor Devavrat Shah and computer science student Kang Zhang, collected data from OKCoin, the world’s largest exchange by trading volume, from February to July.

They fed the data into a predictive statistical model they have developed and used the results to conduct a simulation of CNY/BTC trades. In the simulation, the trader could only go long or short 1 BTC in each trade.

Volatility boosts profits

The trading simulation, conducted on data taken from 50 consecutive days in May and June, produced highly profitable results. The simulated trader invested 3,781 yuan and made 2,872 trades. The total cumulative profit was 3,362 yuan, or an 89% return on the amount invested.

The trading strategy produced the greatest profits when volatility was high, in the period at the end of May and the start of June, and was still profitable when the price declined steadily at the end of the simulated period.

The trading strategy also produced a Sharpe ratio of 4.1, the authors write. This expresses a portfolio’s return after adjusting for the risk-free rate of return. A high ratio shows that an investor produced returns while taking on less risk, with scores of three and over being considered excellent.

The authors’ Sharpe ratio compares favourably to benchmark mutual funds, like the Vanguard Total Stock Market Index Fund, the world’s largest such vehicle, which is worth $355bn. That fund has aone-year Sharpe ratio of 1.79 and has returned 8.32% in the last year.

Kerry’s plane grounded again

Vienne, Oct 16 – Globe-trotting top US diplomat John Kerry was left hoofing it back on a commercial flight from Vienna Thursday, after his ageing Air Force plane broke down for the fourth time this year.

After marathon talks on Iran’s nuclear programme in the Austrian capital Wednesday, Kerry’s party of more than 40 State Department staff and journalists were checking out of their hotel rooms before dawn Thursday when the news came that his Boeing 757 needed unspecified repairs — again.

Jambo Africa Restaurant wins Torchlight Award in Minnesota

A restaurant owned by a Kenyan has been voted the best African eatery in the state of Minnesota, United States.

Jambo Africa, which is located on Shingle Creek Parkway in the city of Brooklyn Center, beat other African eateries in the Midwestern region to emerge the overall winner of Torchlight Award.

The Torchlight Foundation recognises achievements made by African immigrants in the fields of culture, education, entertainment, fashion, and philanthropy.

“Our brothers and sisters are out here doing big things and we at Torchlight do not only honour their work, but inspire others,” said Stephen Ngang, the Foundation’s director.

The winning restaurant is run by Mr George Ndege Jojo and his Liberian partner, Mr Simone Chambliss.

Speaking to the Nation soon after receiving the award, an elated Jojo said the recognition was “an affirmation that good stuff can still come out of the continent.”

He said the restaurant has become more popular because it does not specialise in dishes from a single region but from both East and West African cuisine, making it a favourite spot for the African immigrant community in Minnesota.

“The most popular item right now is fried tilapia fish. Customers from both East and West seem to agree on its unmatched flavour and presentation,” said Mr Jojo.

Besides serving African dishes, the restaurant also hosts African cultural events.

“We host African-themed events, including live music band, traditional percussion, dancing, poetry, story-telling sessions, book releases and more.

“When my wife and I get homesick, we come here to remind ourselves of motherland by eating Kenyan food and dancing to Kenyan beats,” said Basillioh Mogaka, who lives in Minneapolis.

Mr Jojo said the restaurant also hosts prominent African dignitaries whenever they visit the cities of Minneapolis and St Paul.

“We also have an American clientele, especially those who have visited Africa as tourists, aid workers and missionaries. They drop in to satisfy their nostalgic food memories of Africa,” he said.

The Torchlight Award also recognised Jambo Africa's high customer service standards.

Interpol wants Kenyan arrested over illegal ivory trade

NAIROBI, Kenya, Oct 16 – Interpol on Thursday issued an international arrest warrant for Kenyan national Feisal Mohamed, on suspicion of involvement in the illegal ivory trade.

According to Interpol, Mohamed is said to be behind three tonnes of ivory confiscated in Mombasa on July 9 last year, when the Kenya Wildlife Service (KWS) and Kenya Revenue Authority (KRA) impounded a consignment weighing 3.2 tonnes at the Port of Mombasa.

The consignment was intercepted in a 20-foot container awaiting shipment to Malaysia. At the time, KRA Public Relations and Corporate Affairs officer Fatuma Yussuf said the ivory tusks were packed in Kenya.

Yussuf had also said documents indicated that the ivory was disguised as groundnuts, wrapped and some stashed in sacks.

Arthur Tudor, the director Kenya Wildlife Service’s Coastal region, said the kind of ivory originated from elephants from the savannah that include Kenyan national parks and neighbouring countries .

Following the seizure, police initiated investigations on the exporter in Nairobi, the consignee in Malaysia and the clearing based in Mombasa.

Two alleged smugglers were on July 12 charged over the consignment but denied the charges.

Abdul Halim Sadiq and Ghalib Sadiq Kara were charged in the port city Mombasa for being in possession of the stash of elephant tusks. An arrest warrant was also issued for businessman Mohamed.

In the warrant issued on Thursday, the international police organisation called on member states to arrest Mohamed if he sets foot on their territories.

On Wednesday, Inspector General of Police David Kimaiyo said tight measures were set to be put in place to assist in the fight against the poaching menace in the country.

Kimaiyo said he had already met key stakeholders in the sector to strategise on the way forward as the threat continues to persist despite various efforts by the government and other stakeholders.

“We are giving a very strong warning to the poachers…their days are numbered,” he warned. “They will face the full force of the law. We are not going to relent on the issue of poaching and we are going to deal with it firmly.”

He said the current trend threatens to bring down the tourism sector which remains a major income earner but warned that police will not relent in the war.

“Even if they are armed with any kind of sophisticated weapon, we shall deal with them. We have more sophisticated weapons than they have,” he stated.