Capital Business

  • - JULY 17 – Arrests for illegally crossing the US-Mexico border dropped by 29 percent in June over the previous month, the lowest count of Joe Biden’s presidency, according to figures announced Tuesday by the US Customs and Border Protection (CBP). The agency credited the decrease to the presidential…
  • - NAIROBI, Kenya, July 17 – Historically, it has been said that human, cattle, and wild animal integration can never be a peaceful effort and has been regarded as an extremely risky endeavor. However, the emergence of sophisticated technologies such as artificial intelligence (AI) and automation is…
  • - NAIROBI, July 16 (Xinhua) — Kenya is keen to partner with China to expand its industrial parks, a government official said on Tuesday. “We see China as a partner that can help us revitalize the country’s manufacturing sector through building more industrial parks,” said Juma Mukhwana, principal…
  • - JULY 17 – Billionaire Elon Musk has said he will move the headquarters of two of his most high-profile companies, rocket firm SpaceX and social media platform X, out of California to Texas. He cited his opposition to a new Californian state law which bans schools from requiring staff to disclose…
  • - WELLINGTON, July 16 (Xinhua) — The Reserve Bank of New Zealand (RBNZ) has been soliciting public opinion of having an electronic version of cash in the country, issued by the Reserve Bank. Digital cash provides people with an alternative, instant, safe, low-cost way of paying for everyday needs…
  • - NAIROBI, Kenya, July 16 – Kenya Electricity Generating Company (KenGen) has announced plans to install a 42.5 megawatt (MW) solar power plant along the Seven Forks dams, where the company generates most of its hydroelectricity. The project, which will be implemented in partnership with the French…
  • - JULY 16 – Disney has confirmed it is investigating an apparent leak of internal messages by a hacking group, which claims it is “protecting artists’ rights”. The group, Nullbulge, said it had gained access to thousands of communications from Disney employees and had downloaded “every file possible…
  • - NAIROBI, Kenya, July 16 – The Kenya Railways Corporation (KRC) has revealed plans to launch SGR Premium Class Coaches, which will offer customers a luxurious rail travel experience and the highest level of comfort. The corporation disclosed that it has already received a shipment of four premium…
  • - COLOMBO, July 16 (Xinhua) — Sri Lanka’s cabinet has approved a proposal for the implementation of the national policy on indigenous medicine for the period between 2024 and 2034, the government information department said on Tuesday. The department said the proposal was submitted by President Ranil…
  • - NAIROBI, Kenya, July 16 – The Motorists Association of Kenya (MAK) has opposed the government’s move to hike the road maintenance and fuel levy from Sh18 to Sh25 per litre terming it illegal. This follows a recent announcement made by the Energy and Petroleum Regulatory Authority (EPRA), which…
  • - JULY 16 – Shares in Donald Trump’s social media company have surged after he survived an assassination attempt on Saturday. Shares in Trump Media, which runs the Truth Social platform, closed up about 31%. The price had risen as much as 70% in pre-market trading over the weekend before falling back…
  • - JULY 16 – Russian antivirus giant Kaspersky Labs has told BBC News that it is leaving the US after the Biden administration banned sales and distribution of the firm’s software. Kaspersky said it had made the “sad and difficult decision” to leave “as business opportunities in the country are no…
  • - NAIROBI, Kenya, July 16 – The High Court is set to deliberate on an application seeking the appointment of an administrator over the property and affairs of Mediheal Group Limited. The application presented by Trimurti Health Care Limited seeks the approval of stakeholders in adopting the proposed…
  • - JERUSALEM, July 15 (Xinhua) — Israeli researchers have created advanced sensors that imitate the complex abilities of natural nervous systems, Ben Gurion University (BGU) announced on Monday. These sensors have wide potential applications in fields that need precise and versatile sensing, such as…
  • - NAIROBI, Kenya, July 16 – A total of 3.2 million customers are yet to update their prepaid meters, Kenya Power has announced. Already, 4.2 million users have updated their meters out of the targeted 7.4 million meters. The utility firm is calling on the remaining prepaid customers to update their…
  • - BRASILIA, July 15 (Xinhua) — Brazil’s financial market reduced its inflation forecast for 2024 from 4.02 to 4 percent and raised the forecast for 2025 from 3.88 to 3.90 percent, the central bank said Monday. The bank’s weekly “Focus” survey of the country’s leading financial institutions showed…
  • - NAIROBI, Kenya, July 15 – The High Court has suspended the swearing-in ceremony of John Chebochok as the newly appointed director of Toror Tea Factory pending hearing and determination of the petition filed against him. The Kericho-based court therefore directed all the petitioners as well as the…
  • - HANOI, July 15 (Xinhua) — Over 1.2 million motorbikes were sold in Vietnam by five members of the Vietnam Association of Motorcycle Manufacturers in the first half of 2024, down 1.4 percent year on year, VnExpress reported Monday. Their sales had declined by 4.9 percent year on year to 603,745…
  • - NAIROBI, Kenya July 15 – A section of Public Service Vehicle (PSV) drivers in the ride-hailing taxi service industry on Monday faced severe consequences for defying calls to join an industrial action. Their striking colleagues damaged and destroyed their vehicles. Drivers from services like Uber,…
  • - JULY 15 – China’s economy stumbled in the second quarter, official data shows, just as the country’s top leaders gathered for a key meeting to address its sluggish growth. It grew 4.7% in the three months to June, falling short of expectations after a stronger start in the first three months of…
  • - NAIROBI, Kenya, July 15 – The High Court has suspended the appointment of Kenya Revenue Authority (KRA) Chairman Anthony Mwaura on alleged corruption and economic crimes charges. Justice Francis Gikonyo ruled today that Mwaura’s appointment ‘suffered procedural infirmity and illegality’. Gikonyo…
  • - NEW DELHI, July 15 (Xinhua) — The annual rate of inflation based on all India Wholesale Price Index (WPI) stood at 3.36 percent in June, compared to 2.61 percent in May, according to the federal Ministry of Commerce and Industry on Monday. “Positive rate of inflation in June 2024 is primarily due…
  • - NAIROBI, Kenya, July 15 – Employment Manager, Bingwa Services, and the Kenya Alliance of Residents Association (KARA) have signed a memorandum of understanding (MoU) to create job opportunities for Kenyan youths. This initiative targets absorbing 6 million skilled youths within three years. The…
  • - NAIROBI, Kenya, July 15 – President William Ruto has cautioned the youth against being used by those who intend on destabilizing the country amid the recent chaos witnessed in the country during the anti-government protests. Speaking in Nakuru County on Monday after overseeing an inspection…
  • - NAIROBI, Kenya, July 15 – Kenyan tour company Twiga Tours has scooped Tripadvisor’s Travelers’ Choice Awards for 2024. The firm emerged at the top after receiving consistent reviews from travelers worldwide. Tripadvisor is a Massachusetts-based company that operates online travel agencies,…
  • - JULY 15 – Chinese carmaker BYD’s subsidiary in India has expanded its electric vehicle lineup with three new SUV variants, aiming to lead the Indian EV market. The new editions include Dynamic, Premium and Superior variants of the BYD ATTO 3, along with a stylish Cosmos Black edition, offering…
  • - CAIRO, July 14 (Xinhua) — Egypt is planning to drill 110 exploratory wells for gas and oil, with a total investment of 1.2 billion U.S. dollars during the current fiscal year 2024/2025, Egyptian Ministry of Petroleum and Mineral Resources quoted Minister Karim Badawi as saying in a statement on…
  • - NAIROBI, Kenya, July 15 – Uncover, a Kenyan-founded skincare firm, has secured Sh180.9 million ($1.4 million) from international investors to expand its business portfolio. The Seed 2 funding was led by EQ2 and IgniteXL Ventures, with participation from Chui Ventures, Samata Capital, and Altree…
  • - SEOUL, July 15 (Xinhua) — South Korea’s export of information and communications technology (ICT) products rose in double digits in the first half of this year, government data showed Monday. The ICT products shipment soared 28.2 percent from a year earlier to 108.85 billion U.S. dollars in the…
  • - NAIROBI, Kenya, July 15 – The Energy and Petroleum Regulatory Authority (EPRA) has increased the Road Maintenance Levy by Sh7 to Sh25 despite public criticism of the new tax. Only last week did the Ministry of Roads and Transport sought public views before increasing the fuel levy by Sh7 to Sh25…
  • - NAIROBI, Kenya, July 14 – The Energy and Petroleum Regulatory Authority (EPRA) has cut super petrol, diesel, and kerosene prices per liter by Sh1, Sh1.5, and Sh1.3, respectively. Starting midnight, a liter of petrol will retail at Sh188.4 in Nairobi from Sh189.4 currently. While a liter of diesel…
  • - KABUL, July 14 (Xinhua) — Around 90,000 CCTV cameras have been installed in different parts of Afghanistan’s capital Kabul to ensure security and check criminal activities, spokesperson for the Ministry of Interior Affairs Abdul Matin Qani has said. Local TV TOLOnews quoting the official on…
  • - NAIROBU, Kenya, July 14 – The government has constituted a Taskforce on the Development of Cybersecurity Policy that will undertake a comprehensive review and audit of the Computer Misuse and Cybercrime Act. According to the Kenya Gazette notice dated June 6, 2024, the 21-member committee taskforce…
  • - JULY 14 – For the last few months, Asia’s richest man Mukesh Ambani has been grabbing the spotlight in India. It’s not because he has completed a major acquisition or cut a big philanthropic cheque, but it’s his son’s grandiose wedding celebrations that have entranced the entire nation and the…
  • - NAIROBI, July 14 (Xinhua) — International scientists on Friday called for home-grown research in Africa aimed at understanding genetic composition of early humans and their gradual revolution, describing the continent as the cradle of humanity. The consortium of scientists in a paper published by…
  • - BUENOS AIRES, July 13 (Xinhua) — Argentina will stop expanding its monetary base to reduce inflation in the country, Argentine Economy Minister Luis Caputo said on Saturday. “From now on the amount of money remains the same or is reduced,” the minister said on X, formerly Twitter. Argentina’s…
  • - NAIROBI, Kenya, July 13 – Innovate Africa, an angel investment fund dedicated to supporting early-stage African founders, has launched with an initial $2.5 million fund.  The sector-agnostic fund co-founded by Kristin Wilson and Christian Idiodi aims to support up to 20 startups in its first year,…
  • - BY ELISHA KAMAU July 13 – The Euro 2024 extravaganza in Germany reaches its grand climax this Sunday at the iconic Olympiastadion in Berlin as England and Spain prepare to clash for the 28th time in 95 years. The spotlight has already been stolen by dazzling young talents, promising a final for the…
  • - ACCRA, July 13 (Xinhua) — The Civil and Local Government Staff Association of Ghana (CLOGSAG) has ended its nine-day strike after the government agreed to resolve the salary dispute, CLOGSAG announced in a communique late Friday. Isaac Bampoe Addo, the executive secretary of CLOGSAG, said in a…
  • - NAIROBI, July 13 (Xinhua) — Chinese firm Moja EV Kenya on Friday commenced the rollout of public electric vehicle (EV) charging stations to increase adoption of green transport in Kenya. Wang Aiping, chief executive officer of Moja EV Kenya, told journalists in Nairobi, the capital of Kenya, that…
  • - NAIROBI, July 13 (Xinhua) — Kenya’s foreign exchange reserves hit a new high of 7.896 billion U.S. dollars Friday after rising 121 million dollars, the Central Bank said in its weekly update of the financial markets. The surge comes about a week after the country fully settled its 2 billion dollar…
  • - BERLIN, July 13 (Xinhua) — Selling prices in Germany’s wholesale trade in June fell by 0.6 percent year-on-year, marking the 14th decline in a row, the country’s Federal Statistical Office (Destatis) said Friday. Europe’s largest economy saw its wholesale prices continue to drop since last year as…
  • - NEW YORK, July 13 (Xinhua) — U.S. federal aviation regulators said on Friday they are grounding SpaceX’s Falcon 9 rocket after an engine failure during Thursday’s launch of a batch of Starlink satellites. Falcon 9 rocket experienced a rare and troubling setback Thursday night as it attempted to…
  • - JULY 12 – Parliamentarians of the African Union are actively promoting the ratification of a protocol on the free movement of people across the continent, aiming to spur tourism and trade. Margaret Jepkoech Kamar, a Kenyan senator and member of the Pan-African Parliament committee on trade, customs…
  • - JULY 12 – British artificial intelligence (AI) chip firm Graphcore – once considered a potential rival to market leader Nvidia – has been bought by a Japanese conglomerate. Softbank has not disclosed how much it paid – but it is thought to be considerably less than the £2bn the UK company was…
  • - NAIROBI, Kenya, July 12 – Kenyan university educators are calling for an urgent review of existing infrastructure in higher education institutions to allow for the seamless integration of artificial intelligence (AI) in classrooms and research. This comes on the back of a workshop organized by the…
  • - Prime Minister July 11 – Narendra Modi, during his official visit to Austria, invited Austrian companies to invest in India to strengthen the economic ties between the two nations, according to the Ministry of External Affairs (MEA). Both Prime Minister Modi and Austrian Chancellor Karl Nehammer…
  • - JULY 12 – The German government has drawn criticism from opposition politicians and trade unions for its plans to grant tax relief to skilled foreign workers, as part of a program aimed at reviving the economy. Other measures include reducing red tape and encouraging people to work for longer…
  • - UNITED NATIONS, July 11 (Xinhua) — The United Nations released a report on Thursday projecting that the global population will peak this century. According to the World Population Prospects 2024: Summary of Results, it is expected that the world’s population will peak in the mid-2080s, growing over…
  • - NAIROBI, Kenya, July 12 – The High Court has declared the Social Health Insurance Act (SHIA) unconstitutional. A three-judge bench comprising Justices Alfred Mabeya, Robert Limo, and Fridah Megabit ruled that the Act lacked adequate public participation and contained disparities that rendered it…