Star Business: Ministries yet to spend Sh158.7 billion 17 Jun 2013 - TREASURY is yet to disburse Sh158.7 billion out of the total planned allocation of Sh971.2 billion to the various ministries expected to have been released by end of May just one month to the close of the current financial year. According to the statement of revenue...
Star Business: Kenya Airways plans to set up fuel firm 17 Jun 2013 - KENYA Airways is considering setting up a fuel procurement company as part of its new cost cutting measures measures. The airline which cut its staff numbers by 476 in the last financial year, announced on Friday a Sh10.8 billion pretax loss for the year ended March...
Star Business: Kenya Airways set for a rebound 17 Jun 2013 - The national flag carrier Kenya Airways reported full year earnings through March 2013 on Friday. Kenya Airways reported a full year PAT loss of 7.864 billion versus a full year PAT of +1.66 billion, Full year revenues retreated -8.3755 per cent to 98.86 billion. In...
Star Business: NHC to construct 2,000 houses worth Sh1 billion 17 Jun 2013 - THE National Housing Corporation plans to construct 2,000 at a cost of Sh 1 billion between now and next July, managing director Njuguna Wachira said on Friday. He said Treasury had funded the corporation for the first time in 30 years and they will us the funds to...
Star Business: Motor insurance fraud unearthed 17 Jun 2013 - THREE people were on Friday charged in court for alleged fraud on motor insurance covers, raising questions on the industry's data sharing system that was designed to prevent such cases. The three, according to court documents, were said to have overlapping insurance...
Star Business: Kenya Power to give free bulbs 17 Jun 2013 - Kenya Power will embark on the second phase of the free energy saving bulbs circulation in select households later this year in a bid to reduce the current demand for electricity. The electricity distribution firm said it will spend Sh1.3 billion on the project to...
Star Business: KQ plunges to Sh10.8 bn loss before tax 15 Jun 2013 - SHAREHOLDERS of Kenya Airways may have to go without dividends for financial year 2012/2013 following the airline's Sh10.8 billion loss before tax announced yesterday. The airline attributed the loss to various factors including lower passenger numbers especially on...
Star Business: Budget deficit could push up borrowing cost 15 Jun 2013 - The bloated national budget will cause more pain to Kenyan consumers as they will be faced with higher interest rates, in addition to the high taxes they already pay, according to analysts. They say to finance the Sh330 billion budget deficit, the government may opt...
Star Business: The Radical Notion That Women Are People 15 Jun 2013 - I am lucky: I have a lot of wonderful people in my life. Amongst them are my girlfriends. Most of them, all, I think, are professionals. Some of them mothers, but not all. This wasn’t a deliberate choice, but since I’m quite wrapped up in my work, I think it just so...
Star Business: State targeting one million new jobs 15 Jun 2013 - The government showed an effort in balancing between job creation in the formal and informal sector in this year's budget statement. Henry Rotich the Treasury Cabinet Secretary announced efforts to grow small businesses as well as create businesses environment...
Star Business: Relief as ERC cuts petrol price by five shillings 15 Jun 2013 - Kenyan motorists will have some relief for the next one month after the Energy Regulatory Commission announced a Sh5.06 cut in the price of super petrol in its latest price review. ERC announced the reduction of super petrol price alongside other smaller cuts in...
Star Business: Budget to heavily depend on taxes 15 Jun 2013 - Listening to Henry Rotich lay out the government expenditure plans for the coming year, you could allow yourself to get excited. A million acres under irrigation supplying cheap food to the nation with even surplus to export; a well-equipped police service powered by...
Star Business: Treasury cracks whip on insider share trading 14 Jun 2013 - The Capital Markets Act may be amended to expand the scope of investigations into insider trading to safeguard the market from manipulations, the budget proposed. If the amendments are passed it will redefine the offense of insider trading as an offense of strict...
Star Business: CMC fails to recover Sh600m from sales 14 Jun 2013 - FORMER managers of CMC Motors Group sold cars on credit to undisclosed list of clients without any collateral forcing the company to absorb a Sh600 million debt, shareholders have been told. CMC which for long held the local franchise for top of the like range cars...
Star Business: Foreign investors getting more defensive 14 Jun 2013 - The all share has been on a losing run since setting an all time high on May 22. Start of the year through May 22 the index posted a +35.916% return. The Nairobi NSE20 set a 58-month closing high of 5030.91 on April 2. The Nairobi NSE20 posted a +21.703% return start...
Star Business: CMA keen to grow Islamic investment products 14 Jun 2013 - The Capital Market Authority plans to boost investments in sharia compliant investment tools specifically targeting the infrastructure sector. Acting chief executive Paul Muthaura said there is a lot of interest in sharia capital market products both local and...
Star Business: Insurance clients get more safeguards 14 Jun 2013 - THE government has increased protection for insurance clients by amending the law to promote faster compensations and giving the Policyholders Compensation Fund a say in liquidation of firms. In the 2013/2014 budget statement, National Treasury Cabinet Secretary Henry...
Star Business: KRA told to map out rental property 14 Jun 2013 - The Kenya Revenue Authority has been ordered to map out all rental property in urban areas by the end of this year for the purpose of collecting all the rental income tax. The Cabinet Secretary for the National Treasury, Henry Rotich, also directed the tax collector...
Star Business: Salary Debate Diverting Focus On Other Issues 14 Jun 2013 - The controversial issue on country’s huge wage bill has received nationwide attention if the recent opposition to raising the pay for the members of the National Assembly is anything to go by. As the new administration settles down to work, calls for the...
Star Business: No excuse for port inefficiency - Kamau 12 Jun 2013 - TRANSPORT and infrastructure cabinet secretary Michael Kamau has vowed to streamline activities at the port of Mombasa to improve efficiency. Speaking while on a tour of the port yesterday, Kamau warned the staff over incompetence and laxity of port operations. Kamau...
