Star Business: Kakuzi 2012 profit falls 26 per cent to Sh479m 03 Apr 2013 - AGRICULTURAL firm Kakuzi posted a 26 per cent drop in pretax profit last year to Sh479 million, hit by lower prices of avocados and the sale of one of its tea subsidiaries. The firm issued a profit warning last year, citing lower prices of its export crops due to the...
Star Business: Shilling firms after court upholds presidential vote 03 Apr 2013 - The Kenya shilling rose against the dollar yesterday after the country's Supreme Court upheld Uhuru Kenyatta's win in the March 4 presidential election. Kenyatta's main rival Raila Odinga accepted the ruling, easing tensions after the previous vote in 2007 was...
Star Business: KETEPA appoints new boss 03 Apr 2013 - Kenya Tea Development Authority has appointed Collins Cheruiyot to head its subsidiary Kenya Tea Packers Limited. Cheruiyot, an electrical engineer was previously Ketepa's operations manager. Cheruiyot will oversee the implementation of Ketepa's strategic plan as the...
Star Business: Pension fundedhome sales low, says report 03 Apr 2013 - A research into mortgage funding through pension schemes wants the law reviewed to allow use of the funds to purchase land for construction. The Retirement Benefits Authority policy brief for year 2011/2012 released last week noted that the regulation allowing members...
Star Business: Ecobank gets Sh2.1 billion capital 02 Apr 2013 - Ecobank Kenya parent company and majority shareholder Ecobank Transnational Incorporated will inject Sh2.1 billion (USD 25 million) as additional capital in the Kenyan subsidiary in the second quarter of this year2. This follows a similar capital injection of Sh2.1...
Star Business: Country needs infrastructure bank-gobal firm 02 Apr 2013 - Kenya should create an infrastructure bank to fast track its ambitious plans for economic growth. This is according to Dow Chemical, a global innovative technologies and solutions for the chemical and specialty materials industry. In its first Advanced Manufacturing...
Star Business: Epson starts interactive learning 02 Apr 2013 - Epson has introduced a new projector that aims to promote interactive learning in Kenyan schools. The second generation projector features two interactive pens which allow teachers and students to write on the screen at the same time, making collaborative work easier...
Star Business: Kenya looks for economic peace dividends after poll 02 Apr 2013 - Kenya's tourism industry may be a swift winner from the election of Uhuru Kenyatta, owner of hotels and a vast business empire, as the economy seeks to benefit from a vote that avoided a re-run of bloodshed of five years ago. Tourism is a vital sector for the nation...
Star Business: Kenya trade ties with the West intact as leaders send messages 01 Apr 2013 - Trade ties between Kenya and western world may not be affected by the presidency of Uhuru Kenyatta and William Ruto, both facing crime against humanity trial at the International Criminal Court. A sample of messages from the European Union and the US governments show...
Star Business: Brokers post mixed fortunes 01 Apr 2013 - STOCK brokers and invest- ment banks are reporting growth due to improved performance of the Nairobi Securities Exchange. Out of 15 brokers and investment banks that re- leased their financial results last week, African Alliance appears to be the most profitable...
Star Business: Pension funds lag in investment policy review 01 Apr 2013 - MOST pension schemes are yet to revise their investment policies de- spite volatility of capital markets in recent times, the Retirement Benefits Authority has said. In its policy brief for year 2011/2012 published recently, the pension schemes regulator noted that...
Star Business: Kenya at a tipping point 01 Apr 2013 - The Supreme Court reached a unanimous verdict. The election “was conducted in a free, fair, transparent and credible manner in compliance with the constitution,” Mr Mutunga told the court in a ruling televised live. He said it had taken the six judges “extensive...
Star Business: Kisumu business down after ruling 01 Apr 2013 - Business suffered a major blow in the lakeside city of Kisumu and major towns where Prime Minister Raila Odinga enjoyed major support after the court nullified his petition challenging the election of Uhuru Kenyatta as the fourth president of Kenya. Kisumu city known...
Star Business: Eveready bounces from loss to post Sh70 million profit 30 Mar 2013 - BATTERY maker Eveready has emerged from loss territories to post a profit but helped by unrealised foreign exchange gains. The Nakuru-based firm said profits for the year ended September 31 stood at Sh70 million, up from a Sh123.9 million loss in 2011. Eveready said...
Star Business: Total Kenya posts Sh200 million loss over Triton 30 Mar 2013 - OIL marketer Total Kenya yesterday reported a Sh202 million net loss for the full year ended December 31 blaming settlement of a legal case arising from activities of the troubled firm Triton. The company, which had posted a Sh71.4 million loss in 2011, said the legal...
Star Business: CMA extends CMC shares suspension 30 Mar 2013 - Cooper Motors Company shares suspension from the Nairobi Securities Exchange has been extended for the seventh time in a row. The Capital Markets Authority extended the suspension for a 53 trading days from 30 March 2013 to 14 June 2013 on request of the company. CMA...
Star Business: Inflation slows in March, points to more easing 30 Mar 2013 - Kenya's 12-month inflation rate inched down in March from February, giving policymakers room to cut lending rates after they took a pause earlier this month to assess the economy after the presidential election. The rate of inflation had risen in the previous two...
Star Business: MRC poses huge threat to tourism 30 Mar 2013 - Kenya's tourism sector is under serious threat posed by poaching of its prime wildlife species and violent acts perpetrated by secessionist group Mombasa Republican council, investors in the sector have said. The double threat has the potential to disrupt the main...
Star Business: Better Safe Than Sorry, The Poll Jitters Were Justified 30 Mar 2013 - Did you ‘panic shop’ before the elections? I did. Not in a particularly panicky manner, mind you (I live in Westlands, and in the first weeks of 2008, if you weren’t watching or reading the news, and restricted your little rounds from my place to ABC, you could be...
Star Business: Shilling firms before long Easter weekend 29 Mar 2013 - The Kenya shilling opened firmer yesterday, buoyed by banks selling dollars ahead of a long Easter holiday weekend which is expected to see the result of a legal challenge to this month's presidential election. Defeated presidential candidate Raila Odinga is...
