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BOOK REVIEW: Say yes to new year for prosperity, happiness

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Book Review

 

You’ve probably watched the hit TV shows Private Practice, Scandal, Grey’s Anatomy and How To Get away With Murder, or at the very least heard of them. This book is by their creator Shonda Rhimes, director at Shondaland, the company that creates these epic television series depicting mostly black, female protagonists fighting against all odds to slay their dragons and emerge winners. This wasn’t always the case for Shonda, until recently (2014 when she went on this journey).

The 311-page book starts with a prologue titled “full frontal” where she states, “A lady never shows her soul outside the boudoir”, and for her this includes the very unnatural act of writing about herself. However unnatural it may be to Shonda, she does a sterling job pulling the writer into her mind before she was the creator of all these celebrated shows, before she had an army of writers chipping into her body of work, before the fame and during it all.

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The Year of Yes focuses on how in 2014, Rhimes took on the year, thanks to her sister’s comment “you never say yes to anything”. Shonda calls these “the six startling words”. Six words that dared her to do more with her life, the opportunities that came her way through her sheer hard work and being in the moment instead of watching life pass by. And so, as though on a whim, she decided to say yes to everything, for a year. Just imagine that, saying yes to everything for a year. Yes family, friends, work that fulfils you, yes, even when afraid, feeling the fear and doing it anyways. Simply, yes.

Rhimes previous habit of saying no was not rooted in self-love. This almost self-destructive pattern that had her on the verge of a health catastrophe because of her weight is what she writes she was conquering. It reads like a cross between random journal entries and stories about her life and that of the people around her, that aid in relevance, like a supportive cast to a main actor.

Rhimes confesses how she used to eat, drink, and binge watch television series, instead of responding to invites of the exclusive events and opportunities that came her way. The thought of going out to events, meeting people, speaking in public or doing interviews would send jolts of fear into her so bad, if she went through with it, she’d have no memory of what happened. She decided to say yes to all these things.

Year of Yes is a cross between a memoir and self-help book. A book written by a woman with grit for others like her, others who want to be like her, television enthusiasts and production students alike.

Year of Yes inspires us to take on the New Year early. It’s a book to read at this time of year, that will inspire you to not live life inside your head, but get off the sofa and do what makes your soul leap with joy. Have a great year and may you say yes to the new experiences, new opportunities and lovely new books.

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World Bank pushes G-20 to extend debt relief to 2021

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World Bank Group President David Malpass has urged the Group of 20 rich countries to extend the time frame of the Debt Service Suspension Initiative(DSSI) through the end of 2021, calling it one of the key factors in strengthening global recovery.

“I urge you to extend the time frame of the DSSI through the end of 2021 and commit to giving the initiative as broad a scope as possible,” said Malpass.

He made these remarks at last week’s virtual G20 Finance Ministers and Central Bank Governors Meeting.

The World Bank Chief said the COVID-19 pandemic has triggered the deepest global recession in decades and what may turn out to be one of the most unequal in terms of impact.

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People in developing countries are particularly hard hit by capital outflows, declines in remittances, the collapse of informal labor markets, and social safety nets that are much less robust than in the advanced economies.

For the poorest countries, poverty is rising rapidly, median incomes are falling and growth is deeply negative.

Debt burdens, already unsustainable for many countries, are rising to crisis levels.

“The situation in developing countries is increasingly desperate. Time is short. We need to take action quickly on debt suspension, debt reduction, debt resolution mechanisms and debt transparency,” said Malpass.

ALSO READ:Global Economy Plunges into Worst Recession – World Bank

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Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans

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The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. The amendments will require digital lenders to seek approval from CBK before launching new products or changing interest rates on loans among other charges, just like commercial banks.

“The principal objective of this bill is to amend the Central bank of Kenya Act to regulate the conduct of providers of digital financial products and services,” reads a notice on the bill. “CBK will have an obligation of ensuring that there is fair and non-discriminatory marketplace access to credit.”

According to Business Daily, the legislation will also enable the Central Bank to monitor non-performing loans, capping the limit at not twice the amount of the defaulted loan while protecting consumers from predatory lending by digital loan platforms.

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Tighter Reins on Platforms for Mobile Loans

The legislation will boost efforts to protect customers, building upon a previous gazette notice that blocked lenders from blacklisting non-performing loans below Ksh 1000. The CBK also withdrew submissions of unregulated mobile loan platforms into Credit Reference Bureau. The withdrawal came after complaints of misuse over data in the Credit Information Sharing (CIS) System available for lenders.

Last year, Kenya had over 49 platforms providing mobile loans, taking advantage of regulation gaps to charge obscene rates as high as 150% a year. While most platforms allow borrowers to prepay within a month, creditors still pay the full amount plus interest.

Amendments in the CBK Act will help shield consumers from high-interest rates as well as offer transparency on terms of digital loans.

SEE ALSO: Central Bank Unveils Measures to Tame Unregulated Digital Lenders

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Scope Markets Kenya customers to have instant access to global financial markets

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NAIROBI, Kenya, Jul 20 – Clients trading through the Scope Markets Kenya trading platform will get instant access to global financial markets and wider investment options. 

This follows the launch of a new Scope Markets app, available on both the Google PlayStore and IOS Apple Store.

The Scope Markets app offers clients over 500 investment opportunities across global financial markets.

The Scope Markets app has a brand new user interface that is very user friendly, following feedback from customers.

The application offers real-time quotes; newsfeeds; research facilities, and a chat feature which enables a customer to make direct contact with the Customer Service Team during trading days (Monday to Friday).

The platform also offers an enhanced client interface including catering for those who trade at night.

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The client will get instant access to several asset classes in the global financial markets including; Single Stocks CFDs (US, UK, EU) such as Facebook, Amazon, Apple, Netflix and Google, BP, Carrefour;  Indices (Nasdaq, FTSE UK), Metals (Gold, Silver); Currencies (60+ Pairs), Commodities (Oil, Natural Gas).

The launch is part of Scope Markets Kenya strategy of enriching the customer experience while offering clients access to global trading opportunities.

Scope Markets Kenya CEO, Kevin Ng’ang’a observed, “the Sope Markets app is very easy to use especially when executing trades. Customers are at the heart of everything we do. We designed the Scope Markets app with the customer experience in mind as we seek to respond to feedback from our customers.”

He added that enhancing the client experience builds upon the robust trading platform, Meta Trader 5, unveiled in 2019, enabling Scope Markets Kenya to broaden the asset classes available on the trading platform.

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