- Chinese money is pouring into funds invested in offshore assets at breakneck speed, butting up against outbound investment limits and complicating Beijing's efforts to revive domestic markets and stabilise the yuan.
- Equity Bank on Monday announced instant PayPal withdrawals, down from the initial 24-hour settlement period for the lender's customers who receive payments through the international payment solutions provider.
- The Kenya Revenue Authority (KRA) has announced that all businesses, including those in the Informal Sector and Small Businesses, must electronically generate and transmit their invoices to KRA via the electronic Tax Invoice Management System (eTIMS).
- Tech firm DigiTax has unveiled new solution to help businesses comply with the Kenya Revenue Authority (KRA) electronic tax invoice management system (eTIMS).
- The Budget Policy Statement appears to have revealed a puzzling inconsistency and conflicting data in the figures regarding the total budget for the next financial year.
- Stakeholders in the avocado value chain are now calling for stern measures to be taken against individuals involved in the harvesting of immature avocados in the country.
- Bitcoin hit a two-year high on Tuesday, on track for its biggest two-day rally this year, on signs large players were buying the cryptocurrency, while smaller rival ether topped $3,200 (Ksh.468,800) for the first time since 2022.
- The Kenya Revenue Authority (KRA) has announced a substantial response from taxpayers towards the ongoing Tax Amnesty Programme introduced by the Finance Act, 2023.
- Volkswagen is recalling more than 260,000 compact cars in the United States because a pump located inside the gas tank could leak fuel, possibly leading to a fire.
- The industry-wide adoption of the revised accounting practices on bond valuations is expected to provide pension funds with a more accurate depiction of their financial health.
- Boeing (BA.N), opens new tab said on Wednesday it was replacing the head of its troubled 737 MAX program effective immediately, the first major executive departure since the Jan. 5 mid-air panel blowout of a new Alaska Airlines MAX 9.
- Over 1000 bolt drivers are set to benefit from Bolt’s asset finance program that the company intends to roll out before the second quarter of this year.
- Ford Motor Company on Tuesday said it had cut prices on its Mustang Mach-E electric SUV by up to $8,100 (Ksh.1.2 million) after sales fell sharply in January.
- Kenya Power connected 256,206 new customers to the national electricity grid in the half-year period to December 2023, bringing its customer base to 9,454,819, the utility said on Tuesday.
- The Blockchain Association of Kenya (BAK), Kenya’s leading digital asset industry lobby group, has extended the feedback period on its community-led draft Virtual Asset Service Provider (VASP) bill.
- The dollar was steady on Monday after data last week showing U.S. inflation remained sticky cast doubts on when the Federal Reserve would start its easing cycle, while the yen remained rooted near the psychologically key 150 per dollar level.
- Africa will account for eleven of the world’s 20 fastest-growing economies in 2024, the African Development Bank Group (AfDB) said in its latest Macroeconomic Performance and Outlook of the continent released on Friday.
- The Kenya Climate Innovation Center (KCIC) has unveiled 'Sustainable Waste Innovation for a Future in Transition (SWIFT)', a waste management programme targeting Small and Medium Enterprises (SMEs) operating in the waste management sector in Kenya.
- A former Goldman Sachs analyst was convicted Thursday of using inside information to buy shares in listed companies and make more than 140,000 pounds (approx. Ksh.25.6 million).
- The United Kingdom has slipped into recession just months ahead of a general election, official figures showed Thursday, derailing Prime Minister Rishi Sunak’s pledge to generate economic growth.
- KQ has announced the reintroduction of direct flights to Mogadishu, Somalia, marking a significant milestone in regional connectivity and development.
- Japan’s economy has contracted unexpectedly because of weak domestic consumption, pushing the country into recession and causing it to lose its position as the world’s third largest economy to Germany.
- The continuous rally of the Kenya shilling over the last week has signalled a significant tide turn for the currency which was expected to shed more value this year after the shilling hit an all-time high of over 160 against the US dollar.
- Japan’s economy has contracted unexpectedly because of weak domestic consumption, pushing the country into recession and causing it to lose its position as the world’s third largest economy
- Kenya’s issuance of a fresh Eurobond is likely to ease concerns about the debt situation, and therefore lift the overall economic outlook for the country.
- The Cabinet has approved the privatisation of major State-owned enterprises in the hospitality and tourism department in a move meant to grow the country’s foreign exchange.
- Kenya has just taken a calculated risk that paying more than 10% on a new international bond is worth it to avoid a default later in the year, even though history is littered with examples of this kind of gamble ending in tears.
- Sidian Bank has announced its platinum sponsorship of the Kenya Teachers Sacco Association (KETSA) for the upcoming 3rd Annual Leaders’ Summit, contributing a Ksh.1 million cheque to KETSA
- The Kenya Revenue Authority (KRA) has adjusted the VAT return filing process which will now see tax returns pre-filled with tax information with effect from the February 2024 tax period, not the January 2024 tax period as earlier planned.
- Billionaire Jaswant Rai owned Sukari Industry Limited based at Riat Trading Center in Ndhiwa Sub County is expected to resume operations on Monday after a four-day worker’s strike.
- This comes after the Kenyan government offered to buy back some of its tenders for Ksh. 2 billion dollars, just days after Ivory Coast and Benin returned to the international capital market for financing.
- The strategically-placed Indian Ocean nation of the Maldives, which has borrowed heavily from China and shifted allegiance from India, is at high risk of "debt distress," the IMF warned Wednesday.
- In a bid to boost the country's labor governance and practices, Kenya's National Labour Board, led by Mr. Shadrack Mwadime, the Principal Secretary for Labour & Skills Development, embarked on a comprehensive comparative learning mission in South Africa.
