Business News

Oil Crude prices

Oil Prices Rise on Potential OPEC+ Supply Cuts; BP Shuts US Refinery Units

SINGAPORE: Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a U.S. refinery. Brent crude rose 45 cents, or 0.4per cent, to US$101.67 a barrel by 0630 GMT. U.S. West Texas Intermediate crude was up 32 cents, …

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Kenya to supply Uganda with power after floods shut the key plant.

Uganda will make an emergency purchase of power from neighboring Kenya to stabilize supply after floods forced the shutdown of its 183-megawatt Isimba plant last week. Energy Minister Ruth Nankabirwa Ssentamu said “Uganda will purchase 60 megawatts from Kenya and will restart an idled 50-megawatt thermal plant in Kampala. An additional 20 megawatts will be …

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Joanne Mwangi-Yelbert

Joanne Mwangi-Yelbert Appointed New Chairperson of the Kenya Tourism Board

Joanne Mwangi-Yelbert has been appointed as the new  Chairperson of the Kenya Tourism Board (KTB) for a three-year term, replacing Jimi Kariuki. The appointment announced through a gazette notice dated July 5, 2022 makes Mwangi-Yelbert the first female to serve as board chair since the inception of KTB. “I want to thank President Uhuru Kenyatta …

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Asian Markets Traders

Asian Markets Mixed as China’s Industrial Output Misses Expectations

Shares in the Asia-Pacific were mostly higher on Monday as investors monitored market reaction to Chinese economic data. Mainland China markets were mixed. The Shanghai Composite fell slightly to end the day at 3,276.09 and the Shenzhen Component was up 0.33% at 12,460.22. Hong Kong’s Hang Seng index was 0.72% lower in the final hour …

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Safaricom MPESA TKASH

Safaricom Launches Second Phase of Mobile Merchants Interoperability.

Airtel and Telkom customers can now pay into Safaricom’s MPESA pay bill numbers after the successful launch of the second phase of mobile merchants’ interoperability. The service that was launched today will allow customers on any of the three networks to make mobile money payments to an M-PESA Pay Bill Number from any network. The …

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Global Markets NSE

Market Report, 16th June, 2022

At the end of today’s trading session on the Nairobi Securities Exchange (NSE), A total of 13,643,000 shares in 1,064 deals, corresponding to a market value of KES 315,565,099.00, were traded. Compared with the previous NSE trading day (Wednesday, June 15), today’s data shows 32% decline in volume, 38% decline in turnover, and 15% decline …

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NSE Nairobi Securities Exchange

Market Report: June 03, 2022

Trading on the secondary bond market on the NSE posted a decline in activity as compared to Thursday’s trading, with bonds valued at Kes 1.79 billion transacted in 98 deals compared.

NSE Nairobi Securities Exchange

Market Report: May 31, 2022

Trading on the secondary bond market on the NSE posted a decline in activity as compared to Monday’s trading, with bonds valued at Kes 1.91 billion transacted in 98 deals

Equity Group DRC

Equity Group announces a total $1.6Billion DRC investment commitments by 26 Kenyan Companies

26 Kenyan companies have committed trade investments worth $1.6Billion in the Democratic Republic of Congo. The 26 traders are part of the Kenya delegation that participated in last year’s Kenya-DRC Trade Mission organized by the Government of Kenya and the Government of the Democratic Republic of Congo (DRC) in partnership with Equity Group. Some of …

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KCB Group CEO Oigara

KCB GROUP PLC POSTS KSHS.34.2B IN FULL-YEAR 2021 PROFIT AFTER TAX

Growth in total income and reduction in loan loss provision charge pushed performance by 74% in steady post-COVID-19 recovery KCB Group Plc recorded a historic 74% rise in profit after tax for the full year ending December 2021, riding on an economic recovery across markets.   Net profit grew to KShs.34.2 billion compared to KShs.19.6 …

KCB GROUP PLC POSTS KSHS.34.2B IN FULL-YEAR 2021 PROFIT AFTER TAX Read More »

Wall Street

Wall Street Lower on Fears of Aggressive Fed Rate Hikes

Wall Street ended sharply lower on Thursday after U.S. consumer prices data came in hotter than expected and subsequent comments from a Federal Reserve official raised fears the U.S. central bank will hike rates aggressively to fight inflation. U.S. Labor Department data showed consumer prices surged 7.5% last month on a year-over-year basis, topping economists’ …

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NSE Nairobi Securities Exchange

Market Report; February 07, 2022

Trading on the secondary bond market on the Nairobi Securities Exchange (NSE) posted gains, compared to Friday’s trading, with bonds valued at Kes 6.05 billion transacted in 91 deals

NSE Nairobi Securities Exchange

Market Report; February 01, 2022

Car and General Plc saw its shares decline by 8.89% during Tuesday’s trading session on the Nairobi Securities Exchange (NSE). Volumes on the stock however remained low, with only 600 shares traded on the counter.

Market Report; January 26, 2022

Trading on the secondary bond market of the NSE posted an increase in activity, compared to Tuesday’s trading, with bonds valued at Kes 3.48 billion transacted in 98 deals.