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KPLC Issues Profit Warning for the Third Consecutive Year

Kenya Power’s net earnings for the year ended June 2020 is expected to drop by over 25 per cent as compared to a similar period last year (2019). A profit warning issued by the company cites challenges including a tough economic environment and an increase in operations costs and reduced sales due to the economic slowdown caused by the corona virus pandemic. The Board and Management are focused on enhancing the Company’s financial performance through...

Wall Street closes Higher as Fed Soothes Recovery Concerns

Wall Street closed higher on Monday following an announcement by the U.S. Federal Reserve regarding its corporate bond purchasing program that boosted investor confidence, which had been wavering amid a spike in new COVID-19 cases. All three major U.S. stock indexes reversed losses in afternoon trading, following the Fed’s decision to apply an indexing approach to its secondary market corporate credit facility to create a more diversified portfolio. “No doubt the market liked it: Who...

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