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Stockbrokers to stop trading at NSE for a month
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VituVingiSana
#51 Posted : Thursday, February 19, 2015 7:29:28 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,358
Location: Nairobi
Boris Boyka wrote:
muganda wrote:
Hope you are holding the right shares... because brokers are going to test the Warren Buffett saying of 'I buy on the assumption that they could close the market the next day and not reopen it for five years."

And what's with this group-think, first from teachers, to media, now brokers!

Kenyan stockbrokers plan to suspend trading at the Nairobi Securities Exchange (NSE) for a month to await a court ruling on a capital gains tax row. http://www.businessdailyafrica....38/-/wjh73i/-/index.html

This one is dangerous practice.Sad d'oh! Market reaction will not be pleasant...Pray
I understand the woes of the Stockbrokers. They are being made responsible for their clients' Tax Calculations! Who wants to be responsible for someone else's Tax Calculations unless you are paid to do so AND have the necessary information.

KRA did not release guidelines until late December. And then keeps on revising the guidelines as folks find holes in them.

CGT is not the problem but the law/guidelines/implementation was not properly thought out. Ridiculous!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Thursday, February 19, 2015 7:34 PM | Reason: Not specified
whiteowl
#52 Posted : Thursday, February 19, 2015 7:32:07 PM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
I'm proud of my country. We resolve everything through strikes
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littledove
#53 Posted : Thursday, February 19, 2015 7:37:15 PM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
trading will continue normally tomorrow, although opening might delay, reliable sources
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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Othelo
#54 Posted : Thursday, February 19, 2015 7:37:42 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
Meetings in progress both for digital migration and CGT>>>>>>>>>>>>>>>>

In an effort to ward off what would be a crippling stoppage at the bourse, Kenya's Capital Markets Authority (CMA) called for a meeting on Thursday night with bourse members and the NSE, to "discuss measures to protect the systemic stability of the capital markets in Kenya", the CMA said in a statement.

Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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ecstacy
#55 Posted : Thursday, February 19, 2015 7:40:13 PM
Rank: Elder

Joined: 2/26/2008
Posts: 4,449
obiero wrote:
this is why I voted for Raila

The one who launched StarTimes then opposed it or the one who called NSE investors drug barons? Leave politics out of this one.
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whiteowl
#56 Posted : Thursday, February 19, 2015 7:42:39 PM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
This is one good way of sparking capital flight. What treasury/KRA are doing is akin to economic sabotage. Guys are really scared! users browsing this topic>> Fetero, Guest (23), littledove , MoneyMonger ,
murchr , VituVingiSana , whiteowl
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nzomah1
#57 Posted : Thursday, February 19, 2015 7:44:34 PM
Rank: New-farer

Joined: 10/24/2014
Posts: 14
This government seems bent on killing entreprise in kenya. Discouraging capital investments is like throwing this debt ladden economy to the dogs.
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ecstacy
#58 Posted : Thursday, February 19, 2015 7:49:29 PM
Rank: Elder

Joined: 2/26/2008
Posts: 4,449
Leave the Executive out of this. Let the systems run their course. Short term discomfort for long term stability.
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TheGeek
#59 Posted : Thursday, February 19, 2015 7:50:02 PM
Rank: Member

Joined: 7/3/2014
Posts: 245
muganda wrote:
Hope you are holding the right shares... because brokers are going to test the Warren Buffett saying of 'I buy on the assumption that they could close the market the next day and not reopen it for five years."

And what's with this group-think, first from teachers, to media, now brokers!

Kenyan stockbrokers plan to suspend trading at the Nairobi Securities Exchange (NSE) for a month to await a court ruling on a capital gains tax row. http://www.businessdailyafrica....38/-/wjh73i/-/index.html


Weak shilling,Sideways market, vapor volumes , brokers vs Kra swordplay, FTA Media blackout, Militarization of the security forces and many more.....

Time to defend your stock portfolios ladies and gents, GOLD...
In the world of securities, courage and patience become the supreme virtues after adequate knowledge and a tested judgment are at hand.
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Boris Boyka
#60 Posted : Thursday, February 19, 2015 7:52:10 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
VituVingiSana wrote:
Boris Boyka wrote:
muganda wrote:
Hope you are holding the right shares... because brokers are going to test the Warren Buffett saying of 'I buy on the assumption that they could close the market the next day and not reopen it for five years."

And what's with this group-think, first from teachers, to media, now brokers!

Kenyan stockbrokers plan to suspend trading at the Nairobi Securities Exchange (NSE) for a month to await a court ruling on a capital gains tax row. http://www.businessdailyafrica....38/-/wjh73i/-/index.html

This one is dangerous practice.Sad d'oh! Market reaction will not be pleasant...Pray
I understand the woes of the Stockbrokers. They are being made responsible for their clients' Tax Calculations! Who wants to be responsible for someone else's Tax Calculations unless you are paid to do so AND have the necessary information.

KRA did not release guidelines until late December. And then keeps on revising the guidelines as folks find holes in them.

CGT is not the problem but the law/guidelines/implementation was not properly thought out. Ridiculous!

@vvs indeed the stockbrokers are between a hard place and a rock...but that caught me unawaresd'oh! given my meal was cooking well ready to eat . This confusion will affect market unless it is resolved today. Poor Advisory.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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