Shares of the embattled Chinese property giant, Evergrande, have been suspended from trading on the Hong Kong Stock Exchange. This development comes amidst reports suggesting that the company’s chairman, Hui Ka Yan (also known as Xu Jiayin), has been placed under police surveillance, adding another layer of uncertainty to the already crisis-hit firm. The exact […]
Kenya Airways (KQ) has reported an increase in loss before tax of Ksh 22 billion during the first six months of this year from Ksh 9.9 billion reported last year on account of depreciation of the shilling. During investor briefing held Tuesday, the airline said despite recording a 120pc improvement in operating profit to Ksh […]
Faulu Microfinance Bank is targeting to enhance its Small and Medium Enterprise customer base with the rollout of new enterprise solutions. According to Faulu Bank Head of Business Growth Joshua Kittony, its Biashara Customer Value proposition (CVP), Blended Retail CVP and Digital CVP are aimed at boosting boost customer experience across the country. “At Faulu, […]
Absa Bank Kenya profit after tax has risen 32pc in the first six months of the year to Ksh 8.3 billion supported by strong performance across main income streams. The bank’s profit margin for the period ended June 30, 2023 increased from Ksh 6.3 billion reported over the same period last year driven by net […]
Dickson Wandera, a father of two based in Nairobi, has secured the second Sh1 million grand prize in Safaricom’s Gomoka na Go monthly promotion. Wandera, an executive driver, plans to open his own electrical products business with the money he has won. He will also use part of the funds to open a nail spa […]
Governor Gideon Mung’aro has terminated a Ksh 300 million revenue collection contract Kilifi County signed with Rain Drop Limited in 2014. The firm was awarded the contract to collect local revenues on behalf of the county for a period of fifteen years by former governor Amason Kingi’s administration. Kilifi County government has now acquired a […]
Listed agribusiness and superfoods producer Kakuzi has successfully completed the inaugural export delivery of 181 Boran heifers to a Uganda-based rancher for breeding. The breeding heifers valued at more than Sh13.5 million left Kakuzi’s Makuyu, Murang’a County, livestock paddocks late last week and have now been received at Mpala Farm, in Kawempe Division, Central Uganda. […]
Workers at two large liquefied natural gas (LNG) plants in Australia, operated by US energy giant Chevron, are set to go on strike from 7 September, in a move that could drive up global prices. This follows weeks of negotiations with unions over pay and working conditions. Chevron told the BBC it would “continue to […]
Agribusiness and superfoods producer Kakuzi Plc has successfully completed the inaugural export delivery of 181 Boran heifers to a Uganda-based rancher for breeding. In a statement Tuesday, the breeding heifers valued at more than Kshs 13.5 million left Kakuzi’s Makuyu, Murang’a County, livestock paddocks late last week and have now been received at Mpala Farm, in Kawempe […]
Toyota, the global automotive giant, has been forced to suspend operations at the majority of its assembly plants in Japan due to a system malfunction. This disruption comes as a significant setback for the world’s largest carmaker, impacting its production capabilities. As a result of the glitch, Toyota had to halt operations at 12 out […]
Aviation workers have thrown their weight behind management shake up at the Kenya Airports Authority (KAA) that led to the firing of managing director Alex Gitari. Kenya Aviation Workers Union (KAWU) Secretary General Moss Ndiema said the power outage at the Jomo Kenyatta International Airport (JKIA) last Friday was as a result of incompetence and […]
Hewlett Packard Enterprise (HPE) has inked a deal with Mitsumi Distribution in a move expected to help the firm increase its market share and boost revenues in the region. The firms are betting on the new partnership to deliver cutting-edge solutions such as storage, networking and servers to enterprises in the region. “We are thrilled […]
