Star Business: EABL bull move signals an imminent announcement 22 May 2013 - The Nairobi All Share rallied 0.86% to close at 127.81 which is an all time high. The Nairobi All Share is +34.735% in 2013. The Equity Market has steepened its bullish trajectory over the last 3 weeks. The Nairobi NSE20 rallied 18.35 points to close at 4978.65. The...
Star Business: City Trust, I&M deal approved 22 May 2013 - City Trust has announced that it has received all the necessary approvals from shareholders of I&M Bank to acquire the bank. City Trust has also received the required approvals from the Central Bank of Kenya as a non operating holding company of I&M Bank. "CTL...
Star Business: Central Bank in market to mop Sh8 billion 22 May 2013 - THE Central Bank sought to mop up Sh8 billion from the market yesterday through 14-, 21- and 28-day term auction deposits. The bank has actively soaked up liquidity since last year to support the shilling by making it slightly more expensive for banks to fund long...
Star Business: Strathmore picked as ICT conference partner 21 May 2013 - Strathmore Business School has been chosen as the analyst and content partner for the four day 2013 Connected Kenya Summit which opens in Mombasa on Monday. Connected Kenya Summit brings together industry leaders in the ICT sector and has become a key ICT event in the...
Star Business: Citi profits dip 36 per cent to Sh800m 21 May 2013 - CITIBANK NA Kenya has reported a 35.9 per cent drop to Sh801 million for the first three months of this year, down from Sh1.2 billion posted in a similar period last year. The period saw the bank's interest income on loans and advances dropping by close to 50 per cent...
Star Business: CCK says it lacks space for third digital player 21 May 2013 - The Communications Commission of Kenya has said it does not have broadcasting spectrum to issue to the media owners, despite a government promise allocate them the third digital signal distribution license. The industry regulator, said the spectrum that would have...
Star Business: Shilling steady, investor inflow boost expected 21 May 2013 - The shilling was steady yeaterday and traders said they expected it to gain ground early in the week, lifted by offshore investor flows into stocks and government securities. Commercial banks quoted the shilling - which has strengthened 2.8 percent so far this year -...
Star Business: Revenues behind target by close to Sh100 billion 21 May 2013 - THE country was behind its revenue collection target by close to Sh100 billion by end of March, government data shows. According to the Treasury's latest issue of the quartely economic and budgetary review, total cumulative revenue collection including appropriation...
Star Business: Non-performing loans choke NBK's profits 21 May 2013 - NATIONAL Bank yesterday reported its three months net profit this year rose 12.6 per cent despite a huge rise in non performing loans. The bank recorded Sh370.7 million in net profits, up from Sh329.1 million recorded as at March 2012. Gross non performing loans and...
Star Business: Jaguar Land Rover vehicle owners still relying on CMC 21 May 2013 - Land Rover and Range Rover owners in Kenya will continue depending on CMC for maintenance of their vehicle as the new franchise holders RMA Motors Kenya are yet to establish operations locally. RMA took over from CMC Motors earlier this year. The Star has established...
Star Business: Labs to get new quality standard 21 May 2013 - The International Organisation for Standardisation has revised the accreditation standard for medical laboratories which now supersedes the current one. The older version (ISO 15189:2007) will nonetheless still be valid until 2015. Medical labs will now use the newly...
Star Business: Centum set for high-end development 18 May 2013 - Investment firm Centum is set to kick off the development of the high-end 100 acre project in Gigiri near the United Nations complex. The company is now seeking contractors for the Two Rivers urban development project. The wholly owned subsidiary of Centum, Two Rivers...
Star Business: Nivea unveils anti sweat deodorant 18 May 2013 - Skin Care company Nivea has unveiled a deodorant that it claims has a proven formula to protect against stress sweating. The development of the product was inspired by a worldwide research yo determine what causes people stressful moments in their day to day lives....
Star Business: Bureaucracy delays small firms' listing 18 May 2013 - Long approval processes at the Nairobi Securities Exchange are delaying the listing of small firms at the bourse despite the existence of the Growth Enterprise Market Segment (Gems). The segment which was regularised in January this year, is yet to list any firm owing...
Star Business: NBK eyes Sh10bn in fight for the market 18 May 2013 - National Bank of Kenya will raise more than Sh10 billion in a cash call next year to fund expansion and increased lending, its chief executive said. Ranked number 12 out of 43 lenders in east Africa's biggest economy, National Bank declined from a top-three lender in...
Star Business: Wheat farmers shift to other crops as price drops 18 May 2013 - WHEAT farmers in Uasin Gishu County have started shifting to other crops due to poor prices of the commodity offered by the government. Most farmers have shifted to planting maize and other crops after the price of a 90kg bag of wheat started coming down drastically....
Star Business: Treasury boss pledges to prioritise reforms 18 May 2013 - The newly appointed National Treasury Secretary Henry Rotich has said his priority in the office will be to implement structural reforms expected to drive the country towards growth. He said public financial management reforms are crucial in driving the economy to...
Star Business: Will The New Government Save Kenyans Any Money? 18 May 2013 - A few years ago, I read Njenga Karume’s autobiography. He had worked with a proper writer, and I found the book quite a good read. Of course I thought there were many things that would have been worth investigating more closely, but it was an autobiography – by...
Star Business: Foreign flows now support the shilling 18 May 2013 - The Kenyan shilling firmed slightly yesterday and traders said they expected further gains in coming days as offshore investors convert dollars to buy stocks and government bonds. Nairobi's blue-chip index has already risen 20 per cent this year. March's peaceful...
Star Business: Coffee earnings drop, threatening season's export target 17 May 2013 - Earnings from coffee sold through Kenya's weekly auction fell by more than a third in the first half of the growing season as poor quality beans and low international prices weighed, casting doubt on full-year targets for the crop. Although Kenya is a small coffee...
