Liquidity has tightened in the interbank market as Kenyan companies are paying their latest tax instalment, lifting the weighted average interest rate to 9.8 percent on Thursday, from a low of 6.3 percent on Sept. 6. Traders said they expected the shilling to trade in a range of 86.00-87.00 to the dollar in coming days with a bias to firming further, partly due to dollar inflows from foreign investors buying an extended 12-year infrastructure bond. On the stock market, the benchmark NSE-20 share index inched up 0.1 percent to 4,841.33 points, extending gains to a seventh straight session although it appeared to be losing momentum. “We expect the high inflation environment to impact local investors negatively,” said Silha Rasugu, an analyst at Genghis Capital. Equity Bank, the country’s largest bank by customers, rose 1.5 percent to 34.25 shillings a share, while Co-operative Bank of Kenya climbed 1.2 percent to 16.45 shillings.
“You’ve got money: Hollywood scribe Ephron made a fortune on the stock market,” the network blared on its online site late today. Ephron had more than $10 million in stocks and real estate investments by the time she died at 71 in June 2012 of acute myeloid leukemia, the documents showed. Ephron was savvy enough to invest in Internet ventures early, before they became blockbusters, amassing $642,000 in Apple shares, over $110,000 in Google and $89,000 in Amazon, according to the documents. Plus, she made plenty of money writing and/or directing such romantic comedy hits as When Harry Met Sally …, Sleepless in Seattle, You’ve Got Mail, and Julie & Julia. Her property portfolio, including a Beverly Hills bungalow, an East Hampton mansion and a Manhattan co-op, totaled just above $12 million, while her personal belongings and cash totaled about $4 million, the documents show. The daughter and sister of Hollywood screenwriters, Ephron started out in New York as a journalist with a memorably droll, ironic style, then moved on to equal success as a scriptwriter and online later as a director.
The company expects its business to grow overseas, especially in places such as Argentina, France, Japan, Russia, Saudi Arabia and South Africa, the documents indicate. Goldman Sachs Group Inc. is spearheading Twitter’s offering with Morgan Stanley and JPMorgan Chase & Co. The same three banks led Facebook’s IPO. Bank of America Merrill Lynch , the corporate and investment banking division of Bank of America Corp., and Deutsche Bank AG are also underwriters. Twitter didn’t say if it will trade its stock on the New York Stock Exchange or the Nasdaq Stock Market.