THE 10 MOST BEAUTIFUL TOWNS AND CITIES IN AFRICA

Sarine Arslanian

The African continent is not only about impressive animals, stunning deserts and beautiful savannahs. It is also home to astonishing cities and towns that are rich in history and culture. Here is a list of the 10 most charming cities and towns to visit in Africa.

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Cape Town | South Africa

Cape Town is a vibrant and colorful city with stunning beaches, beautiful mountains and some of the best vineyards in Africa. Taking the cable car ride to the top of Table Mountain at sunrise or sunset to take in the beautiful views is a must. With all the sophistication and facilities that can be found in the city, this seaside playground certainly has enough to offer to everyone.

VIDEO FEATURE

Adam Mitchell – Amazing views from the top of Table Mountain! / 2:02

Kigali | Rwanda

Not only is Kigali beautiful, but it is also the cleanest and safest capital city in the continent. The fact that it is so green and hilly adds to the aesthetic allure of the place. It is not surprising that Kigali is considered to be one of the most liveable cities in Africa. With impressive urban development plans and efficiency in road construction, Kigali has become a well organised and structured city that gives its visitors and inhabitants a feeling of peacefulness and serenity. Nothing beats the views that you get from the top of the numerous beautiful hills.

Kigali Rwanda © Jussi Ollila

Essaouira | Morocco

With an ancient medina and lustrous fortifications which date back to the 18th century, kilometres of stunning beaches, and a charming harbour and fish market to stroll around, Essaouira is one the most beautiful towns to visit on the continent. It guarantees moments of peace and tranquility far away from the mayhem of bigger cities and the charmless all-inclusive resorts of Morocco. As the wind and currents are quite strong, it is the perfect spot to windsurf and kitesurf. In addition to being a picturesque coastal town, Essaouira is a water sport lovers paradise.

Essaouira Morocco © NC

Luxor | Egypt

Once ancient Egypt’s capital Thebes, Luxor has attracted many travellers and Egyptologists since the 19th century. They come in search of the ancient wonders that still dominate the city’s landscape. The name ‘Luxor’ itself is translated by ‘Palaces’. Luxor is now a beautiful, vibrant city with spectacular Nile scenery and desert landscapes. It is also home to the remains of the tombs of the Pharaohs, the beautiful temple of Karnak, the Temple of Hatshepsut (the only woman who has ever been a Pharaoh), and the stunning Valley of the Kings among others. The last two are most beautiful at dawn when viewed from up in the sky while on a hot air balloon ride.

Luxor Egypt © NC

Djenne | Mali

The town of Djenne is one of the oldest in the country. Indeed, its establishment dates back to 800 BC. It is a fascinating and beautiful place with mud brick houses and mosques. In fact, the largest and most creative mud-made building, the Grand Mosque, lies in Djenne. With its magnificent mud-made sights, this is certainly a town that is unique.

VIDEO FEATURE

BBC Earth – “The whole town mucks in to protect the Mosque for another year.” / 4:08

Stone Town | Tanzania

Right off the coast of Tanzania in the Indian Ocean lies the the island of Zanzibar. It combines a fascinating and rich history with beautiful white sand beaches and crystal clear waters, and Stone Town is its cultural heart. Over the last 200 years, little has changed in this old city. Extravagant houses with carved wooden doors, the Sultan’s palace, winding alleys and narrow streets, and animated bazaars make Stone Town a fascinating place to wander around. No wonder that this Swahili coastal trading town is classified as a UNESCO world heritage site.

Stone Town Tanzania © NC

Mozambique City | Mozambique

Located on the tiny three-kilometre-long island of Mozambique, Mozambique City is a picturesque and stunning fortified city. It used to be a Portuguese trading post on the way to India. Since the 16th century, the place has kept its impressive architectural unity. Buildings are all made out of the same materials, decorative ideas and using the same techniques. The architecture also reflects the melting pot of cultures present on the island. Portuguese influences, just as much as local ones, and Arab and Indian traditions to a lesser extent can all be felt. This exceptionally pleasant town is today, one of the most fascinating towns in the region.

Polana Church, Maputo, Mozambique © Tomas Forgac

Windhoek | Namibia

Windhoek, Namibia’s largest city and capital, is a tidy and modern city with stunning pastel-painted buildings and traditional German houses. Wandering through the city centre of Windhoek will instantly reveal the beauty of the place. The ambiance there is usually laid-back. As it is a somewhat small, pedestrian-friendly city, it is quite walkable. Together with the modern skyscrapers, neo-baroque cathedrals and German ‘castles’ dominate the city’s skyline. Windhoek is a hassle free and cosmopolitan city.

Lamu | Kenya

Lamu is a very relaxing and laid-back coastal town in Kenya. The only thing that could occasionally disturb the peace, is the braying donkey or the call to prayer from the many mosques. It is, in fact, one of Africa’s best preserved Swahili settlements and a UNESCO World Heritage Site. Travellers can spend hours strolling around the beautiful, narrow alleys in the old town. They can also relax at the nearby Shela Beach. Lamu is one of the best places to chill out, and adopt a slow, coastal lifestyle.

Lamu | Kenya © Cessna

Bahir Dar | Ethiopia

Wide streets with lines of palm trees and stunning river views make up Bahir Dar’s landscape. The beautiful capital of the Amhara region, and the third biggest city in Ethiopia. Located on the shores of the stunning Lake Tana, the city is home to some of the oldest monasteries and churches in the world. Visiting them is a must, and there are many boat tours to take travellers. The Blue Nile Falls are also one of the most spectacular sights to see in Ethiopia and are only a short distance away from Bahir Dar.

Children in Bahir Dar | Ethiopia © Rod Waddington

RBI wants you to keep your account number while switching banks

BY ECONOMICTIMES.COM | UPDATED: MAY 31, 2017, 10.54 AM IST

Just like your mobile number, you could soon move your account from one bank to another without having to change the account number. 

Batting for the move, RBI deputy governor S S Mundra said technological innovation and linking accounts to Aadhaar can make it easier for this to happen. Mundra was speaking at an event organized by the Banking Codes and Standards Board of India. 

How does this help? 

For unhappy banking customers, this could be a relief as it will save them the trouble of going through the process of opening a new bank account each time they want to switch banks. This will also help you do away with multiple bank accounts. The enhanced competition could lead to better services too. 

But will banks oblige? 

Taking this step is not going to be an easy task for banks as there are many loopholes that need to be addressed on the technology and data-integration front. Adhil Shetty, CEO of Bankbazaar, says, "Banks will have to restructure their account numbering systems. Many of them have different methods and streamlining these will take time. This will also involve changes in their software integration systems." 

Another roadblock could come in the form of know your customer (KYC) procedures. The KYC and the due diligence done vary between banks and may not be accepted uniformly. Experts believe that there are chances that some people may switch banks too often to escape the net of the Prevention of Money Laundering Act. So, banks need to have a secure KYC norm in place to distinguish the genuine customers from the fraudsters. 

A report on bank account number portability by Finacle, the banking solutions product of Infosys Technologies, states that this facility is already present in Europe and Australia in different forms. In the United States, every bank account number indicates the bank and pin code of the branch owning the account. However, the mechanism to handle subsequent bank switches is still not in place. 

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India, Russia are 'natural partners' in fighting terrorism: PM Narendra Modi

BY PTI | UPDATED: MAY 31, 2017, 07.05 PM IST

ST PETERSBURG: India and Russia are "natural partners" in fighting terrorism, Prime Minister Narendra Modi said today as he asserted that the two countries must strive to open new vistas to broaden their ties that has "withstood the test of time." 

"We have been together in times - good and bad," Modi wrote in an article published today in Russian newspaper Rossiyskaya Gazetta. 

The prime minister's article came ahead of his visit to St Petersburg where he will hold the 18th India-Russia annual Summit with Russian President Vladimir Putin tomorrow and attend the St Petersburg International Economic Forum where India will be the partner country for the first time. 

"India-Russia relations have been the one constant in a world that has changed dramatically since 1947. They have withstood the test of time, and grown from strength to strength. The resilience of our relationship is based on the fact that it rests on the principles of equality, trust and mutual benefit," Modi said. 

The prime minister hailed erstwhile Soviet Union's help to India to build its industrial base. 

"In the last seventy years, India has developed a large and diversified industrial and technological base. We are among the fastest growing large economies of the world. The potential for India's accelerated growth has never been greater, nor the optimism higher," he said. 

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Saudi prince: 'No doubt' women will drive

by Zahraa Alkhalisi   @CNNMoneyMay 31, 2017: 8:17 AM ET

MakeMyTrip CoFounder does not want to be Hindu if Beef is banned

Amid the heated controversy regarding the case of the beef ban in India (which isn’t exactly a ban but Indian state discouraging slaughter of cattle), the co-founder of Make My Trip, Keyur Joshi, becomes the latest one to add fuel to the fire.A couple of days back, Keyur Joshi took to Twitter to announce that if Hinduism takes the right over food habits of common people, he better not be a Hindu. He even blamed PM Modi for this. He did not however, blame RaGa for public slaughter of calf in Kerala.

Clearly, this person lacks the sentiments of the Hindus – he is okay if cows are slaughtered shamelessly but he is not okay if one single food item is missing from the menu. And mind you, beef is not the basic food to anyone. There are substitutes of beef available everywhere in the market.

Point to note is, Keyur Joshi, till now, hasn’t criticised Islam for terrorism, Triple-Talaq etc. but he is worried about beef.

 Wednesday, 31 May 2017

विराट हिन्दू राष्ट्र

The Indian Voice

The Philippines Army battles the Islamists...

Last updated on: May 31, 2017 09:26 IST

The Philippines army battles terrorists backed by Islamic State in the first major military encounter with Islamists in that part of the world.

IMAGE: A Filipino soldier aboard an armoured fighting vehicle as soldiers advance in Marawi city. Photograph: Erik De Castro/Reuters

Last week, terrorists linked to Islamic State group torched buildings, seized more than a dozen Catholic hostages and raised IS flags in the mostly Muslim-populated city of Marawi on Mindanao in the Philippines.

Attack helicopters pounded Islamist strongholds, where up to 2,000 residents were feared trapped.

More than 100 people were confirmed killed in the conflict, and President Rodrigo Duterte has declared martial law across the entire southern region of Mindanao, home to roughly 20 million people.

Duterte -- a native of Mindanao himself -- warned that local terrorist groups were uniting behind IS and becoming a major security threat to the Philippines.

IMAGE: Troops during an assault on the terrorists who have taken over large parts of Marawi. Photograph: Romeo Ranoco/Reuters

As details of the attack in Marawi emerged, fears mounted that the largest Roman Catholic nation in Asia could be falling into a growing list of countries grappling with the spread of influence from Islamic State.

In a video apparently taken by the terrorists and posted on social media, a Catholic priest who was taken hostage says he is being held alongside 200 other captives, including children.

Father Teresito Suganob said his captors wanted the military to withdraw its forces from Marawi where the terrorists still hold pockets of territory after a week of fighting the Filipino army.

IMAGE: Filipino soldiers on their way to war. Photograph: Erik De Castro/Reuters

The terrorists have withstood eight days of intense air assaults and street-to-street combat.

Military helicopters fired rockets repeatedly and black smoke rose from buildings that were hit.

Thousands of people have fled Marawi since the battle began.

IMAGE: Smoke billows at the site of fighting near a mosque. Photograph: Erik De Castro/Reuters

The battle began after dozens of gunmen went on a rampage in response to an attempt by security forces to arrest Isnilon Hapilon, a veteran Filipino militant regarded as a local leader of IS.

IMAGE: The military operation went wrong when the terrorists called in reinforcements and swept through Marawi. Photograph: Erik De Castro/Reuters

Hapilon, a senior member of the Abu Sayyaf kidnap-for-ransom gang, is on the United States' list of most wanted terrorists.

He was being protected in Marawi by the local Maute group, which has pledged allegiance to IS.

The Filipino terrorists were being backed by foreign insurgents including Malaysians, Indonesians and Singaporeans, the authorities in Manila said.

Maute, Abu Sayyaf and other terror groups are uninterested in negotiations and have in recent years looked to IS to help them.

IMAGE: Residents of Marawi flee as the fighting rages. Photograph: Erik De Castro/Reuters

The Marawi violence is intended to highlight their terror credentials to IS, security analysts say.

Duterte -- who says he personally executed drug dealers when he was a mayor in Mindanao -- said he is prepared to enforce martial law for as long as is necessary to quell the terrorist threat.

His predecessors like former president Fidel Ramos fear Duterte will use the situation in Marawi to impose martial law throughout the Philippines as Ferdinand Marcos, the disgraced dictator, once did.

IMAGE: A soldier runs for cover during an assault. Photograph: Erik De Castro/Reuters

Of the 400 to 500 marauding fighters who over-ran Marawi last week, a Philippines intelligence source said as many as 40 had recently come from overseas, including from countries in West Asia.

They included Indonesians, Malaysians, at least one Pakistani, a Saudi, a Chechen, a Yemeni, an Indian, a Moroccan and one man with a Turkish passport.

IMAGE: An attack helicopter fires a rocket. Photograph: Erik De Castro/Reuters

Although Islamic State and groups affiliated to it have claimed several attacks across Southeast Asia in the last two years, the battle in Marawi is the first long drawn-out confrontation with security forces.

'IS is shrinking in Iraq and Syria, and decentralising in parts of Asia and the Middle East,' Reuters quoted Rohan Gunaratna, a security expert at Singapore's S Rajaratnam School of International Studies, as saying.

'One of the areas where it is expanding is Southeast Asia and the Philippines is the centre of gravity,' Gunaratna said.

The Rediff News Bureau / Rediff.com

Techno funda: MACD shows 85 stocks readying for a rally

By 

Rahul Oberoi

Huge blast near Indian embassy in Kabul

Last updated on: May 31, 2017 10:51 IST

A powerful blast on Wednesday rocked Kabul’s high-security diplomatic area where the Indian embassy is located but all staffers at the Indian mission were said to be safe.

Reports said the massive explosion close to the German embassy wounded or killed at least 60 people.

The blast smashed windows of the buildings nearby and a huge plume of smoke could be seen spiralling over the area near the presidential palace and other foreign embassies in the Afghan capital.

External Affairs Minister Sushma Swaraj tweeted that Indian embassy staffers were safe.

Official sources at the ministry of external affairs in New Delhi, however, said some damage to the windows of the embassy building has been reported.

It was not immediately clear what was the target of the blast that occurred during the morning rush hour.

An eyewitness told the local Pajwok news agency that the blast took place close to the German embassy and foreign forces camp. It cited another source as saying the explosion happened in front of the office of the National Directorate of Security, Afghanistan’s primary intelligence agency.

Houses hundreds of metres away from the blast site were damaged and windows and doors blown off their hinges. Bodies and injured people were seen in the area. Some women were seen screaming for the lost relatives at the site of explosion.

No group immediately claimed responsibility for the blast, but the attack came as the Taliban group steps up their annual “spring offensive”.

The blast was the latest in a long line of attacks in the Afghan capital. Kabul province had the highest number of casualties in the first three months of 2017 thanks to multiple attacks in the city, with civilians bearing the brunt of the violence.

Fourth quarter corporate results better than expected

By Narendra Nathan

The results season is progressing smoothly. Though we need to take the first set of numbers cautiously— usually companies with good numbers report results early— the aggregate results till now have been better than expected. 

For the 1,048 companies that have reported results so far, aggregate revenue and net profit have grown by 12% and 58% respectively. “The results that have come so far are good. If you rate them on a scale of 1-10, they will fall between 7 and 7.5,” says ogesh Nagaonkar, Fund Manager, Bonanza PMS. 

Earnings’ estimates continue to fall 

Sensex EPS estimates for 2017-18 have fallen by more than 28% in two years. 

The 2017-18 EPS estimates may fall further, EPS is likely to see 10-11% gain this year. 

Source: Bloomberg 

Two major factors have contributed to this good performance: The impact of demonetisation was much less than expected in the fourth quarter. Since the remonetisation exercise was completed only in the second half of the fourth quarter, market participants were expecting a bigger negative impact. The second factor was the significant fall in net losses of some global companies such as Tata Steel. 

Sectoral analysis 

As expected, the onslaught of Reliance Jio has hurt the performance of the other telecom companies. While the sector’s aggregate revenue fell moderately to Rs 35,641 crore from Rs 39,747 crore year-on-year (y-oy), the industry reported an aggregate net loss of Rs 118 crore, compared to an aggregate net profit of Rs 1,660 crore in the fourth quarter of 2015-16. 

Among listed players, Idea Cellular was the worst hit. It reported a net loss of Rs 328 crore compared to a net profit of Rs 576 crore in the fourth quarter of 2015-16. Bharti Airtel, however, has been able to show profit, though its net profit crashed 64% y-o-y. The telecom industry’s pain will continue for some more time, say experts. “Telecom companies will remain under pressure at least for the next 2-3 quarters,” says Andrew Holland, Chief Executive Officer, Avendus Capital Alternate Strategies. 

Export-oriented sectors such as IT have also fared badly due to the industry-wide slowdown and appreciation of the rupee. Since several big pharma companies have not yet declared results, it is too early to take a call on this sector. However, several export driven manufacturing sectors like auto ancillaries have done well and the trend is expected to continue in the coming quarters as well. “While we are bearish on sectors like IT and pharma, manufacturing exports like auto components, chemicals, etc., should do well in the coming years,” says Holland. 

Banking sector has been a mixed bag. “While some PSU banks were able to reduce their non-performing assets (NPA), the others saw a jump in NPAs,” says Nagaonkar. IDBI Bank, in particular, stands out for the spike in its NPAs. The bank’s net loss widened to Rs 3,200 crore from Rs 1,736 crore a year ago. But retail-oriented private sector banks reported decent growth—HDFC Bank, saw 18% jump in its net profit. “Private sector banks and housing finance companies, especially the ones focusing on affordable housing segments, should do well in the coming years as well,” says Holland. 

Among sectors that did well, metals need a special mention. The quarterly net profit of Hindustan Zinc moved up from Rs 2,149 to Rs 3,057, an increase of 42%. Tata Steel also did well and its losses came down from Rs 3,214 crore in the fourth quarter of last year to Rs 1,168 crore. Despite the demonetisation blues, domestic consumption-oriented sectors did well. FMCG major Hindustan Unilever increased its net profit by 9% to Rs 1,183 crore y-o-y. Consumer non-durables, including auto, also performed reasonably well. 

However, the two-wheeler segment was hit by demonetisation. Bajaj Auto and Hero Motocorp reported a fall in net profit of 13% and 12%, respectively, y-o-y. “While the increase in metal prices is helping metal companies, it will continue to put pressure on margins of consumer non-durable companies,” says Amit Nigam, VP and Head, Equities, Peerless MF. 

Outlook for 2017-18 

Two years ago, the 2017-18 consensus earnings per share (EPS) estimate for the Sensex was Rs 2,331. It has come down to Rs 1,668. It may come down further, say experts. However, the cut won’t be as sharp as in the past. “For the past three years, we have started with a 15-16% growth expectation and have ended up with 0% growth. Though we are are starting with similar expectations again, we may end up with only a small cut this time,” says Nigam. 

This means 2017-18 could see 10-11% EPS growth. Domestic growth should remain buoyant due to positive factors like a good monsoon, implementation of the GST, etc. A pick-up in global growth and stability in commodity prices will continue helping Indian multinationals, such as Tata Steel, Hindalco, Tata Motors, among others. 

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