Capital Business

  • - BY TAMARA RAJIC JULY 24 – The rapid advancement of artificial intelligence (AI) has captured the world’s attention, permeating businesses across all sectors at an astonishing pace. Embracing AI technologies is essential for businesses to remain competitive and meet the evolving demands of customers…
  • - NAIROBI, Kenya, July 24 – Kenyan-hailing American-based food outlet Swahili Village has reached a no-fault settlement with the District of Columbia over allegations of wage theft, concluding a year-long legal dispute. The decision, the restaurant asserts, was made voluntarily to allow the business…
  • - JULY 24 – China’s economic slowdown and a crackdown by Beijing on displays of wealth are taking a toll on some of the world’s top luxury brands. LVMH says its sales in Asia, which include China but not Japan, fell by 14% in the three months to the end of June, worsening from a 6% […]
  • - NAIROBI, Kenya Jul 24 – President William Ruto now says that the government will drop charges against innocent persons arrested in the recent protests across the country. Addressing the Nation on Wednesday at Statehouse Ruto admitted instances where the police used excessive, unlawful, and…
  • - NAIROBI, Kenya, July 24 – Nominated Member of Parliament (MP) John Mbadi has been picked to be the new National Treasury Cabinet Secretary by President William Ruto. Mbadi, who is in his fourth term as a legislator, will be taking over from Njuguna Ndung’u, who was shown the door by the President…
  • - TOKYO, July 24 (Xinhua) — The population of Japanese nationals fell by 861,000, or 0.70 pct, in 2023 from a year earlier to 121,561,801, dropping for the 15th year in a row and marking the steepest decline since the survey began in 1968, government data showed Wednesday. As of Jan. 1, 2024, Japan’s…
  • - NAIROBI, Kenya, July 24 – Kenyans are more worried about their health problems than unemployment as well as cost of living, according to a new report by AfroBarometer. The Pan-African latest data shows that half, or 50 percent, of Kenyans are concerned about health challenges, followed by high cost…
  • - NAIROBI Kenya, Jul 24 – Kenya Airports Authority (KAA) has clarified that the Adani Airport Holdings Limited Group will be investing in a new passenger terminal building at the Jomo Kenyatta International Airport (JKIA) amid claims of sell of the airport to the group. KAA Acting Managing Director…
  • - NAIROBI, Kenya, Jul 24 – President William Ruto has urged the newly sworn-in Commissioner General of Prisons, Patrick Aranduh, to accelerate decent housing programs for officers to boost their morale. Speaking during the swearing-in ceremony held at the Statehouse, Nairobi, on Wednesday, Ruto…
  • - KATHMANDU, July 24 (Xinhua) — A domestic plane carrying 23 people crashed on Wednesday at the Tribhuvan International Airport in Kathmandu, Nepal’s capital, an official said. A witness said the plane nosedived into the ground and an explosion could be heard inside the airport. The plane belonged to…
  • - NAIROBI, Kenya, July 24 – Over 85,000 registered nurses and clinical officers will enjoy indemnity insurance in the new expansion by Britam General Insurance. While professional indemnity insurance is not mandatory for them, it is for doctors in Kenya. Eligible healthcare professionals for this…
  • - SAN FRANCISCO, July 23 (Xinhua) — Alphabet Inc., Google’s parent company, on Tuesday reported its second-quarter revenue at 84.74 billion U.S. dollars, up 14 percent from the same period last year. Announcing its financial results for the quarter that ended June 30, 2024, the company said that its…
  • - SAN FRANCISCO, July 23 (Xinhua) — U.S. electric vehicle maker Tesla on Tuesday reported a revenue of 25.5 billion U.S. dollars in the second quarter of fiscal 2024, up 2 percent over a year ago. Tesla posted 1.48 billion dollars in net income for the quarter that ended on June 30, representing a 45…
  • - NAIROBI, Kenya, July 24 – Kenya Airways (KQ) has relaunched KQ Holidays, an online platform that allows customers to book for holiday packages in various countries. Through the KQ Holidays platform, flyers can book flights, accommodations, airport transfers, and tours under one system. “The new KQ…
  • - NAIROBI, Kenya, July 23 – Data annotation company Sama has partnered with the University of Nairobi in a pact aiming at advancing the generative AI (GenAI) industry in Kenya. The collaboration will provide part-time employment opportunities for UoN faculty and students, offering them valuable…
  • - NAIROBI, Kenya Jul 23 – Numeral IOT, an IT provider company, has unveiled TransitTag, a real-time monitoring system for children’s bus commutes. The TransitTag, powered by the Numeral Infinity Engine, a Kenyan-made communication module for IoT devices, will include wearable wrist tags that will…
  • - ACCRA, July 23 (Xinhua) — Ghana’s economy has made progress after a year of reform implementation, according to the latest report by the World Bank Group. The eighth economic update for Ghana released by the World Bank, titled “Strengthening Domestic Revenue Systems for Fiscal Sustainability,” said…
  • - NAIROBI, Kenya Jul 23 – Faulu Microfinance Bank has diversified into Money Market Fund (MMF), which will allow customers to access flexible and profitable investment opportunities. The Fund, which is a collective investment scheme registered under the Capital Markets Authority, will allow customers…
  • - VALLETTA, July 23 (Xinhua) — The Armed Forces of Malta (AFM) on Monday night rescued three workers on an oil tanker passing through Maltese territorial waters. The army said in a statement on Tuesday that the rescue operation was carried out after the workers lost consciousness aboard the oil…
  • - JULY 23 – In a surprise move Google has abandoned a plan it first announced four years ago to block third-party cookies from its Chrome internet browser. The UK’s data privacy watchdog said it was “disappointed” by the decision. Cookies are small files stored on your computer which allow…
  • - NAIROBI, July 23 (Xinhua) — Kenya’s Ministry of Education said on Monday that it is committed to harnessing science, technology and innovation to empower the youth and spur development in the country. Beatrice Inyangala, principal secretary in the Ministry of Education, said the government has…
  • - NAIROBI, Kenya, July 23 – Former Bomet Governor Isaac Ruto risks facing a lawsuit over an alleged unpaid sum of Sh5 million for 50 cattle supplied to his ranch for a beef project. In a letter to Ruto, Nicholas Teeka, through his lawyers, Kalwa Advocates, has demanded that the former governor settle…
  • - JULY 23 – Philippine President Ferdinand Marcos Jr marked his third year in office by emphasizing his administration’s moves toward combating inflation, poverty and joblessness, the key concerns of most Filipinos, and also a ban on offshore gaming operators. “The hard lesson of this last year has…
  • - NAIROBI, Kenya, July 23 – Public transport service provider Kenya Bus Service (KBS) has acquired its first electric bus as it modernizes its fleet. The bus operator acquired a 36-seater electric bus built at Kenya’s first electric vehicle assembly line operated by BasiGo, located at the Kenya…
  • - NAIROBI, Kenya, July 23 – Users of the Standard Gauge Railway (SGR) premium services will have to pay Sh20,000 round-trip to enjoy the new services. This was announced yesterday by the Ministry of Roads and Transport principal secretary, Mohamed Daghar, during the flagging off of 20 new passenger…
  • - NAIROBI, Kenya, July 23 – Users of the Standard Gauge Railway (SGR) premium services will have to pay Sh24,000 round-trip to enjoy the new services. This was announced yesterday by the Ministry of Roads and Transport principal secretary, Mohamed Daghar, during the flagging off of 20 new passenger…
  • - JULY 23 – Tesla boss Elon Musk says the electric vehicle car maker will start producing and using humanoid robots from next year. In a social media post, Mr Musk said the robots will first be used by Tesla, which will start making them to sell in 2026. The technology billionaire had previously said…
  • - JAKARTA, July 23 (Xinhua) — Indonesia is planning to broaden its mineral and coal online tracking system, known as Simbara, to include several commodities, including copper, gold and bauxite, said the country’s Minister for Energy and Mineral Resources Arifin Tasrif. He mentioned the plan after the…
  • - MOMBASA, Kenya, July 22 (Xinhua) — Kenya on Monday received 20 new passenger coaches from China to increase transport capacity and improve passenger experience. They include 10 revamped economy-class coaches, four premium-class coaches, one dining car, one power car, and four first-class coaches. “…
  • - NAIROBI, Kenya July 22-Stakeholders in the manufacturing sector have challenged the government to foster their efforts in providing incentives to local manufacturers and assemblers in the country. The move has been hailed as a catalyst to stimulate economic growth and create employment…
  • - NEW DELHI, July 22 (Xinhua) — India’s Finance Minister Nirmala Sitharaman Monday tabled the new annual Economic Survey report in the lower house of the Indian parliament, locally known as Lok Sabha. The report projects the South Asian country’s gross domestic product (GDP) to grow 6.5-7 percent in…
  • - NAIROBI, Kenya, July 22 – Kenya Airways (KQ) has warned flyers of possible traffic disruptions ahead of Gen-Z’s protest tomorrow at the Jomo Kenyatta International Airport (JKIA). In a statement, the national carrier advised those traveling to arrive four hours prior to their scheduled departure…
  • - JULY 22 – Ryanair says it expects summer fares will be much lower than last year after profits at the no-frills airline fell by almost 50%. The company said cost-conscious passengers were cutting back while the timing of Easter holidays had also hit earnings, which slumped to €401m (£338m) in the…
  • - Kilifi, Kenya – Nestled in the coastal town of Kilifi, Kago John, a 33-year-old research microbiologist, has found a unique niche in baobab farming. His 5-hectare plantation on the Mnarani Mombasa-Malindi Road supplies Kenyan Originals (KO) with high-quality baobab powder, a crucial ingredient for…
  • - NAIROBI, Kenya, July 22 – Stanbic Holdings spent over Sh100 billion last year to promote sustainability, micro, small, and medium enterprises (MSMEs), and trade in Kenya and South Sudan. The Group says that the investments facilitated trade and investment, developed sustainable finance solutions,…
  • - JULY 22 – The US Olympic and Paralympic Committee is suing Logan Paul and KSI’s Prime energy drinks brand, accusing it of trademark infringement. It claims that Prime is using trademarked Olympic phrases and symbols on a special edition of its hydration drink featuring basketball star and three-…
  • - NAIROBI, Keya, July 22 – The Health Ministry has embarked on the process of preparing a Quality-of-Care Bill to allow patients to access higher standards of medical care. Kigen Bartilol, Director of Health Standards at the Ministry of Health, announced that the new law will ensure that both public…
  • - JULY 22 – On Tuesday, India’s Prime Minister Narendra Modi’s coalition government will present its first federal budget following a narrow election victory. A weakened Mr Modi, reliant for the first time on coalition partners, is widely expected to usher in a reset in his spending policies, while…
  • - NAIROBI, Kenya, July 22 – The COMESA Competition Commission has alerted car importers in the region over the ongoing recall of vehicles from more than 20 major car brands equipped with faulty Takata airbag inflators. In a statement, the commission’s registrar, Meti Demissie Disasa, said that car…
  • - JULY 22 – Cybersecurity firm CrowdStrike says “a significant number” of devices that were impacted by a global IT outage on Friday are now back online. In a social media post, the company – whose faulty security update caused Microsoft Windows computers to crash around the world – added it “…
  • - NAIROBI, Kenya, July 22 – The State Department for Education has revealed that an overall reduction in allocations of both its recurrent and development budget for the financial year 2024/25 will affect key projects, including school examinations, invigilation, and school feeding programs. While…
  • - NAIROBI, Kenya, July 22 – The State Department for Education has revealed that an overall reduction in allocations of both its recurrent and development budget for the financial year 2024/25 will affect key projects, including school examinations, invigilation, and school feeding programs. While…
  • - WELLINGTON, July 22 (Xinhua) — New Zealand exports of milk powder, butter, and cheese fell 10 percent to 1.5 billion NZ dollars (900 million U.S. dollars) in June, compared with the same month last year, which led the fall of the goods exports, the statistics department Stats NZ said on Monday. New…
  • - JULY 21 – A lock of Florence Nightingale’s hair has fetched more than £3,500 at auction in North Yorkshire. The hair, verified to belong to the 19th Century nursing pioneer, was expected to fetch between £2,000 and £3,000. It was sold alongside her signature on a clipped piece of paper. Tennants…
  • - NAIROBI, Kenya, July 21 – Eight Kenyan banks have significantly expanded their number of branches in the East African Community (EAC) Partner States and also in the Democratic Republic of Congo (DRC) between the years 2022 and 2023. According to a report released by the Central Bank of Kenya, these…
  • - NAIROBI,Kenya July 21 – The government has been urged to expedite the process of providing a permanent solution for sectional titles, which are issued to owners of houses in shared apartments. During a keys handover event to homeowners in Almond Height, Kibuchiku in Kiambu County, the Managing…
  • - NAIROBI,Kenya Jul 21 – The real estate market in Kenya has become a battleground for companies striving to capitalize on the nation’s robust demand for housing and commercial properties. With the population increasing and urbanization accelerating, real estate firms are engaged in fierce…
  • - NEW YORK, July 20 (Xinhua) — The White House unveiled a plan on Friday to phase out the use of single-use plastics from all federal operations by 2035, as part of a broader effort to tackle the growing plastic pollution crisis. In an 83-page document, the Biden administration said it is “committed…
  • - TOKYO, July 21 (Xinhua) — Corporate bankruptcies in Japan surged 22 percent year on year to a decade high in the first half of the year due to rising costs, labor shortages and waning financial support, according to a recent survey by a credit research company. The total number of bankruptcies from…
  • - NAIROBI, Kenya, July 20 – The National Construction Authority (NCA) has purchased 14 pieces of equipment with assistance from the World Bank to enhance and ensure the quality and safety of the construction sector in the country. In a report titled ‘THE NATIONAL BUILDING CODE 2024,’ the Authority…