Capital Business: Iran hopes OPEC lowers output
An oil plant/FILE
Iran, May 13 – Iran is unhappy with the current oil prices, its oil minister said Monday, hinting at a proposal for the OPEC to lower its output to compensate for a drop in crude prices.
“Iran’s suggestion has always been to reduce OPEC production ceiling,...
Capital Business: Travel agents told to ride on Kenya’s calm
Tourism Permanent Secretary Ruth Solitei told a gathering of Africa travel agents that the peaceful election has endorsed the country as a safe destination for all economic activities and especially tourism that depends a lot on visitor’s safety/FILENAIROBI, Kenya, May 13 – Travel...
Capital Business: Counties must create jobs, says Kidero
Kidero who was speaking at the Financial Services Strategic Conference organized by Ernst & Young in a Nairobi hotel also advised the financial service providers to give insurance cover to the informal sector/CFMNAIROBI, Kenya, May 13 – Nairobi Governor Evans Kidero has asked the...
Capital Business: France, Germany plan ‘New Deal’ for jobless youths
The Eiffel Tower/FILE
BERLIN, May 13 – Germany and France plan to launch this month a “New Deal for Europe” against youth unemployment, which has topped 50 percent in several countries, with credits for companies that create jobs, a news report said Monday.
Under the initiative,...
Capital Business: Kenya must diversify exports – WB expert
Outgoing World Bank’s Lead Economist Wolfgang Fengler says there is need to push growth of many sectors that will see Kenya export more than it imports goods and services/FILENAIROBI, Kenya, May 13 – The new government has been challenged to come up with numerous strategies to increase...
Capital Business: Aga Khan opens health centre in Arusha
ARUSHA, Tanzania, May 11 – The Aga Khan University (AKU) has expanded its network even further following the launch of a new health facility in Arusha, Tanzania.
The modern health centre located on Seth Benjamin Street, within the central business district, was launched on Friday to offer high...
Capital Business: Kibaki urges businesses to be creative in employment
KEPSA hosted President Mwai Kibaki to a farewell luncheon on Friday. Photo/PPS
NAIROBI, Kenya, May 9 – The private sector has been challenged to find innovative ways of creating employment for the youth in the country.
Speaking at a luncheon in Nairobi organised by the Kenya Private Sector...
Capital Business: Emirates flies into 25th successive year of profit
The group’s 2012-13 annual report shows the company posted an US$845 million net profit, up 34 percent from last year/FILENAIROBI, Kenya, May 10 – The Emirates Group has announced its 25th consecutive year of profit and company-wide growth ending the year in a strong position despite...
Capital Business: Govt says ‘no’ to power tariff increase
Deputy President William Ruto told a meeting attended by officials from the Ministry of Energy, Kenya Power, the Energy Regulatory Commission (ERC) and the Treasury that the government will not allow such an increases/DPPSNAIROBI, Kenya, May 10 – The government has rejected proposals by...
Capital Business: Integration key to Africa’s prosperity – Uhuru
Speaking on Friday in Cape Town where he is attending the World Economic Forum on Africa, President Uhuru Kenyatta said that deeper integration will widen the market for goods and services/PPSCAPE TOWN, South Africa A, May 10 – President Uhuru Kenyatta has said the prosperity of Africa lies...
Capital Business: Sh16bn project to boost Nairobi’s power supply
Kenya Power Managing Director Joseph Njoroge said the Nairobi Ring Project, spearheaded by the Kenya Electricity Transmission Company (KETRACO) involves construction of a 100 kilometre, 400 kV double circuit line from Suswa substation in Nakuru County to Isinya substation in Kajiado County/...
Capital Business: Ruto order on power tariffs welcome – KAM
Kenya Association of Manufacturers (KAM) chief executive Betty Maina says the move comes as a big relief to industry which has been at the forefront in lobbying for a reduction of energy costs in an effort to improve the global competitiveness of local goods/FILENAIROBI, Kenya, May 10 – The...
Capital Business: Stanchart’s digital bank opens @Junction
The Electronic Banking Unit (EBU) dubbed ‘Breeze @ The Junction’ is a sales and self service virtual environment that offers customers an opportunity to experience online solutions/CFMNAIROBI, Kenya, May 9 – Standard Chartered Bank has launched the first Digital Banking Branch in Kenya.
The...
Capital Business: Uhuru in Cape Town for Africa economic forum
President Uhuru Kenyatta is seen off by Service Commanders at the JKIA on his departure to South Africa to attend the 23rd World Economic Forum on Africa in Cape Town/PPSNAIROBI, Kenya, May 10 – President Uhuru Kenyatta has arrived in Cape Town, South Africa, to attend the World Economic...
Capital Business: Safaricom Investment in Sh1bn housing project
The development targeting middle to upper income earners working in Nairobi and Machakos counties is meant to address the rising demand for gated community housing around the country/FILENAIROBI, Kenya, May 9 – Safaricom Investment Co-operative (SIC) on Thursday unveiled a one billion...
Capital Business: After calm transition, investors troop to Kenya
promotion organization in Mauritius are currently in the country to look for ways of strengthening bilateral trade and investment relation between Mauritius and Kenya/FILENAIROBI, Kenya, May – Following the peaceful election and transition in Kenya, foreign investors have already started...
Capital Business: Technology prop as IBM innovation centre opens
NAIROBI, Kenya, May 8 – Kenya’s emerging position as a global ICT hub has received fresh acclaim after the International Business Machines Corporation (IBM) launched its first East Africa innovation centre in Nairobi on Wednesday.
The new innovation centre will provide IT businesses,...
Capital Business: US committed to aiding Kenyan women – envoy
Godec said for the country to realise a vibrant economy it has to involve women in decision making/FILENAIROBI, Kenya, May 6 – American Ambassador Kenya Robert Godec has assured Kenyan women of his government’s support in their development agenda.
While expressing gratitude to President...
Capital Business: Fanisi injects Sh255mn in Rwanda firm
ProDev has two subsidiary companies – Minimex Ltd – the largest manufacturer of branded maize meal in Rwanda, a manufacturer of grits, for the brewing industry and bran used in the formulation of animal feed. The other, ProDev Rwanda, is involved in the handling, drying and storage of...
Capital Business: Toyota says full-year net profit triples to $9.7bn
TOKYO, May 8 – Toyota on Wednesday said its full-year net profit more than tripled to $9.7 billion, with the world’s largest automaker also saying it was on track for another soaring profit in the current fiscal year.
The Japanese giant earned 962.1 billion yen ($9.7 billion), up from...
