Business Daily: MPs should work with revenue allocation team09 May - The agitation by MPs for bigger allocations to their counties betrays their selective grasp of the Constitution. The formula, released by the Commission of Revenue Allocation last week, is so far only a proposal to be debated by the public, fine-tuned, and later presented to Parliament for approval. |
Business Daily: Why all-out civil war is good for Sudan09 May - Less than a year after South Sudan declared its independence, it appears headed for war once again with its northern neighbour, Sudan. At the same time, marginalised northerners are rebelling against the government of Sudan’s president, Omar Hassan al-Bashir. |
Business Daily: Kenya should exploit growth opportunities09 May - I have been following global economy and business trends, focusing mainly on merging economies. Africa has been my main focus area due to the abundance of natural resources and the fastchanging political and economic scenes. |
Capital Business: Ban on KenolKobil shares trade now indefinite NAIROBI, Kenya, May 9 – A ban on trading of KenolKobil shares at the Nairobi Securities Exchange (NSE) has been extended indefinitely. This follows an announcement by oil marketer that its majority shareholders intended to sell their stocks to international giant Puma Energy. In a cautionary notice sent to the NSE, KenolKobil said the main [...] |
Business Daily: Multi-screen content opens window for savvy09 May - Technology’s continuous evolution opens up more avenues for revenue generation, either by way of new market access, lower costs of production, efficient distribution and allowing for business model innovation as new market conditions are created. |
Capital Business: Law to protect tenants from arbitrary rent increase NAIROBI, Kenya, May 9 – Landlords, especially within urban areas, will soon be forced to get a permit from relevant authorities before they hike house rent, if the Landlord and Tenant Bill is passed into law. Housing Minister Soita Shitanda said the Bill, which is yet to be discussed by the Cabinet, will ensure that [...] |
Capital Business: Igathe gets regional post at Haco Tiger Brands NAIROBI, Kenya, May 9 – Haco Tiger Brands Managing Director Polycarp Igathe has been promoted to regional Managing Director for Eastern Africa in the latest changes to executive responsibilities by the manufacturing firm. The process to replace Igathe, who will assume his new position on June 1, is currently underway. Under Igathe’s watch, the firm’s [...] |
Star Business: Kenya shilling holds firm versus dollar09 May 2012 - The Kenyan shilling eased marginally against the dollar yesterday, and traders said it could come under more pressure in coming days from demand for greenbacks from oil importers. At 0732 GMT, commercial banks quoted the shilling at 83.30/40 per dollar, barely changed from Monday's close of 83.20/40. "The major greenback buyers in the energy and oil sectors have been out for a while now, and there are chances that they might be in the ma... |
Star Business: Fly 540 move in Kisumu09 May 2012 - Regional airline Fly540 has relocated its Kisumu office to the new terminal at the Kisumu International Airport. “Previously we were sharing check-in counters with other airlines. This caused confusion and passengers would queue for a long time. With the new premises, Fly540 now has its own dedicated counters. We also have a spacious sales, administration and dispatch office and a luggage holding area,” said Jacob Ot... |
Star Business: State urged to promote regional food trade09 May 2012 - THE World bank is pushing the country to stop restraining export of grains and other food products saying this is distabilising food supply and keeping the prices up. The bank is cautioning countries that have been using this tactic as a way of cushioning themselves against food shortages, saying its contributing to the global food crisis. Kenya has banned export of food products especially cereals. Others like Tanzania and Malawi hav... |
Star Business: Total Kenya cites high financing costs for loss09 May 2012 - Total Kenya posted a loss for the first quarter of 2012 mainly due to heavy financing costs caused by high interest rates, volatile global crude prices and local price caps, the fuel marketer said yesterday. The company, majority-owned by France's Total, posted a Sh84.3 million pretax loss in the three months to the end of March, compared to a pretax profit of Sh272.8 million in the same period last year. Total Kenya said... |
Star Business: World Bank warns on Eurozone crisis09 May 2012 - African economies may be hit harder if there is a new wave of financial troubles in the Euro Zone following the outcomes of the French and Greek elections. A top World Bank economist, Jos Verbeek says this is because the low income countries are rebuilding their 'safety' buffers too slowly, though uncertainty is building up fast in Europe. Verbeek said during the Euro crisis last year, many developing economies made adjustments to... |
Star Business: Kenya seeking ways to grow investments09 May 2012 - KENYA Investment Authority has partnered with the European Union and the UN to survey investment trends in the country in a bid to improve the business environment in the country. KenInvest with the help of United Nations Industrial Development Organization and the EU conducted a one year survey whose outcome seeks to inform policy decisions for improvement of business environment in Kenya. The survey's findings are contained in ... |
Star Business: Puma in talks to buy KenolKobil, shares frozen09 May 2012 - KenolKobil shares have been suspended from trading on the Nairobi Stock Exchange indefinitely amid news the listed firm is to be bought by international oil trading and marketing firm Puma Energy. Puma has entered into negotiations with key shareholders of the firm to buy an undisclosed stake, said to be over 25 per cent, which could see a complete takeover of the region's largest oil marketer. No figure has been given for ... |
Star Business: State misses key development goals09 May 2012 - KENYA did not hit most of Vision 2030 project targets last year, a new government progress report shows. The report, covering the year 2010-2011, indicates that the country did not meet the expected economic growth, inflation, savings and investments projections for the year. On the positive side, the country is doing a commendable job in the areas of infrustructure, energy and information and communication. Key among the achievem... |
Star Business: More buildings now installing solar equipment09 May 2012 - Uptake of solar water heating systems in residential and commercial buildings is on the rise as builders comply with 2010 energy regulations. The Solar Water Heating Regulations 2010 require all premises with hot water requirements exceeding 100lts daily to install the systems for use. The regulations were meant to enforce energy efficiency across the country by cutting reliance on grid power and freeing it for use in other areas. Solar e... |
Star Business: New land laws ignite hope for scam victims09 May 2012 - Land experts are optimistic that newly passed land laws will resolve outstanding land issues including concerns of evictions, demolitions and compensation. The Land Act, the National Land Commission Act and the Land Registration Act were gazetted last week, igniting hope among many victims of past land scams. Ibrahim Mwathane, a director at the Land Development and Governance Institute (LDGI), says the new land laws will address historica... |
Capital Business: Safaricom hit by data service outage NAIROBI, Kenya, May 9 – Safaricom Limited is experiencing a major enterprise data service outage, the company announced on Wednesday. The outage which began on Tuesday evening has been traced to a technical fault in the routing systems. The company’s engineers are currently working with its technology partners to restore services. The enterprise data service [...] |
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