- Oil prices soared Monday after top producers unveiled a shock output cut of more than a million barrels per day, while equities mostly rose after data showed US and European inflation eased further last month.
- Tesla reported a modest 4% rise in sales in the first quarter compared to the final three months of last year, despite a series of price cuts on its lower priced vehicles and talk by CEO Elon Musk about strong demand at those lower prices.
- The International Monetary Fund said its executive board had approved a four-year $15.6 billion (Ksh. 2.07 trillion) loan program for Ukraine, part of a global $115 billion(Ksh. 15.2 trillion) package to support the country's economy as it battles Russia's 13-month-old invasion.
- HF Group has posted a full-year net profit of Ksh.256.7 million, from a loss of Ksh. 682.7 million in December 2021 which translates to a 939% growth.
- As many as 300 million full-time jobs around the world could be automated in some way by the newest wave of artificial intelligence that has spawned platforms like ChatGPT, according to Goldman Sachs economists.
- The Central Bank of Kenya (CBK) will raise its key policy interest rate by 25 basis points to 9.00% later on Wednesday in its latest move to brake still-rising inflation, a Reuters poll predicted.
- Global cloud communications platform Infobip has launched live video support to help businesses resolve customer queries more quickly and shorten customer wait times.
- The Central bank of Kenya (CBK) has licensed 10 additional digital credit lenders, bringing to 32 the total number of providers cleared to operate in the country.
- First Citizens BancShares Inc (FCNCA.O) said on Monday it will acquire Silicon Valley Bank's (SIVB.O) deposits and loans as well as certain other assets from the Federal Deposit Insurance Corporation (FDIC).
- A Dubai hospital has collaborated with insurance and health advisor Lifecare International towards partnering with local hospitals and doctors to offer patients specialised healthcare and an easy transition to treatment abroad.
- Safaricom Foundation has launched the 2023-2026 strategy which will focus on community investment in education, health and economic empowerment on Thursday at their Headquarters.
- The probe into the Telkom Kenya buyout took a new twist after former Treasury CS Ukur Yatani revealed that the government is the majority shareholder.
- In Kenya, over 80% of the population relies on biomass as the primary source of energy for cooking and heating and according to data from the Kenya Household Cooking Sector Study 2019.
- Cabinet has approved the Privatization Bill 2023 which will see non-performing public entities sold to private actors without the bureaucratic approval process by Parliament.
- Argentina's annual inflation rate tore past 100% in February, the country's statistics agency said on Tuesday, the first time it has hit triple figures since a period of hyperinflation in 1991, over three decades ago.
- The Digital Lenders Association of Kenya has rebranded to Digital Financial Services Association of Kenya (DFSAK) as the association reported disbursing over Ksh.500 billion in mobile loans to small businesses and households over the last eight years.
- Facebook-parent Meta plans to lay off another 10,000 workers, marking the second round of significant job cuts announced by the tech giant in four months.
- Volkswagen plans to invest 180 billion euros (around Ksh.25.1 trillion) over five years in areas including battery production and the sourcing of raw materials in a bid to cut electric vehicle costs and protect its market share, it said Tuesday.
- Standard Chartered Kenya (SCBK.NR) posted a 36% jump in its pretax profit for 2022 to 17.1 billion shillings ($132.15 million), its chief financial officer said on Tuesday.
- The government has entered into an oil importation deal that will see the state import petroleum products under a six months-credit and possibly lead to lower fuel prices.
- Kenya and the World Bank have increased the amount under discussion for a potential budget support loan this fiscal year by a third to $1 billion, a document posted on the bank's website showed.
- US regulators shuttered Silicon Valley Bank (SVB) on Friday and took control of its deposits, in what amounts to the biggest retail banking failure since the global financial crisis.
- About ten small-scale millers have completely shut their operations due to an acute shortage of maize coupled with non-payment of maize delivered under the subsidy program.
- Adidas has warned that it could suffer its first annual operating loss in more than three decades this year, mostly because it may have to write off the entire range of Yeezy-branded clothing and sneakers.
- Elon Musk has apologized after publicly scoffing at a Twitter employee’s uncertainty about whether he had been laid off in a recent round of cuts and speaking dismissively of the employee’s disability in a series of tweets Monday night.
- Twenty Kenya-based start-ups have been selected for the third class of the Creative DNA program, a British Council program funded by the Foreign Commonwealth Office to support the growth of the local fashion industry.
- Aspira Kenya, a subsidiary of Mauritius-based Cim Financial Services Group, has launched Aspira Bizna, a new asset finance offering tailored for Kenya’s SMEs.
- The government is looking for a strategic partner to buy out Kenya Airways’ Ksh.170 billion debt as it moves towards cutting funding for the national carrier by the end of the year.
- Kenya Airways (KQ) has renewed a two-year partnership with Kenya Open Golf Limited (KOGL) to continue as the Magical Kenya Open Official Airline Partner.
- The Kenya Electricity Generating Company (KenGen) and Embu County Government have signed an agreement to work together in the implementation of various emergency-related projects and long-term initiatives.
- The Co-operative Bank of Kenya has emerged as the Overall Winner of the Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA).
- Kenya Electricity Generating Company (KenGen) hosted the Vice President of the European Investment Bank (EIB), Mr. Thomas Östros at the Olkaria Geothermal Power Plant.
- Several popular Chinese apps have removed access to ChatGPT, the artificial intelligence chatbot that has taken the world by storm even as major Chinese tech companies race to develop their own equivalent.
- US President Joe Biden said Thursday that Washington is nominating former Mastercard Chief Executive Ajay Banga to lead the World Bank after its current chief David Malpass announced plans to step down early.