Business Kenya

  • DAR ES SALAAM, Feb 10- One day last October, agents from a crack Tanzanian crime unit raced past Dar es Salaam's Palm Beach Hotel in pursuit of the suspected leader of a global elephant poaching ring. The agents' target that day was Yang Feng Glan, a 66- year-old Chinese national dubbed the "Ivory Queen," who is accused of running a smuggling empire stretching from the...

  • NAIROBI, Feb 1- Kenya is targeting a budget deficit of 6.9 percent of GDP in the 2016/ 17 fiscal year, from a revised 8.1 percent this fiscal year, the ministry of finance said in a draft budget policy statement. The deficit for this fiscal year is expected to decline to 522.3 billion shillings, 8.1 percent of gross domestic product, from 569.2 billion shillings, 8.7...

  • Davos optimists see a new era of trade reform at hand Friday, 22 Jan 2016 | 12:17 PM ET

    DAVOS/ GENEVA, Jan 22- A rare note of optimism at Davos this year comes from the trade ministers, who will gather on Saturday for the first time since the World Trade Organization closed the lid on 14 years of increasingly toxic stalemate. The WTO's 162 members, meeting last month in Nairobi, agreed to disagree about the Doha round, effectively giving licence to any...

  • BRUSSELS, Dec 22- The European Union and the Philippines agreed on Tuesday to start free-trade talks next year in Europe's latest effort to tap into Asia's faster economic growth. A deal would follow the EU's accords with Singapore, Vietnam and South Korea, part of a plan by the world's biggest trading bloc to sign deals with the 10- member Association of South...

  • *Entry would integrate Iran more fully in global economy. GENEVA, Dec 17- Iran is prepared to negotiate its way into the World Trade Organization, Industry Minister Mohammad Reza Nematzadeh said on Thursday, building on the momentum of a landmark nuclear deal as Tehran restores international economic links after years of sanctions. The breakthrough, after more...

  • GENEVA, Dec 17- Iran is prepared to negotiate its way into the World Trade Organization, Industry Minister Mohammad Reza Nematzadeh told the WTO's two-yearly ministerial meeting in Nairobi on Thursday. "Now that years of intensive negotiations have finally cleared all the misunderstandings around Iran's nuclear activities, we are taking the next step...

  • NAIROBI, Dec 16- More than 50 members of the World Trade Organization signed an agreement on Wednesday to remove import tariffs on 201 information technology products, marking the first major global tariff-cutting deal in 19 years. The deal, signed by 53 countries including China, will remove tariffs on trade worth $1.3 trillion, which is expected to give a $190...

  • NEW DELHI, Dec 11- India imposed import duties for five years on some stainless steel imports from China, the European Union and the United States on Friday, as the government tries to protect local companies suffering from what it says is unfair competition. Imports from South Korea, South Africa, Taiwan and Thailand will also be taxed. Firms including the Steel...

  • NEW DELHI, Dec 11- India imposed five-year anti-dumping duties on stainless steel imports from China, the European Union and the United States on Friday, as the government tries to help local companies suffering from cheaper imports. Imports from South Korea, South Africa and Thailand will also be taxed. Indian Trade Minister Nirmala Sitharaman said New Delhi...

  • *India wants implementation of Bali trade deal. NEW DELHI, Dec 10- India will push for implementation of the Bali trade deal at the World Trade Organisation talks in Nairobi next week and remain open on all other "non-binding" issues, its trade minister said on Thursday. "Let's honor Bali... let's deliver Bali."

  • NAIROBI, Dec 9- The head of Kenya's largest publicly-traded company has declared personal wealth of $2.7 million, saying he wants to increase transparency in the public and private sectors as part of efforts to fight graft in the East African nation. "It is my belief that all of Kenya's leaders and CEOs should declare their assets in order to embed transparency...

  • GENEVA, Nov 17- The European Union, Brazil and four other countries are proposing the World Trade Organization agree an end to agricultural export subsidies at a meeting next month, a diplomat familiar with the plan said on Tuesday. The December ministerial meeting in Nairobi is at risk of having little to offer in terms of major trade agreements, and the...

  • Hosting 54 nations for the biggest India- Africa summit, Modi laid on a lavish cultural programme with dancers, drummers and videos in a sports arena. Yet India, soon to become the world's most populous country, has its work cut out to catch up with China, whose annual trade with Africa is three times larger than its own $72 billion. India and Africa are home to seven in...

  • *India's $72- bln trade with Africa lags China's $200 bln. *India, Africa make common cause at WTO- minister. NEW DELHI, Oct 26- India hosts its biggest-ever Africa summit this week as Prime Minister Narendra Modi seeks to challenge China's dominance on a continent that is blessed with vast natural resources and has the world's fastest-growing population.

  • OSLO, Oct 11- If and when a global deal to curb climate change is done in Paris this December, the matter of enforcement is likely to be left not to sanctions but to peer pressure. In 1941, an international tribunal established the principle that "the polluter pays" by ordering compensation after fumes from the Trail Smelter, processing lead and zinc in western...

  • GENEVA, Oct 6- Liberia agreed terms to join the World Trade Organization with the body's existing 161 members on Tuesday, clearing the final negotiating hurdle in time for ministers to rubber-stamp the deal at a meeting in December, the WTO said. Liberia has been ravaged by the Ebola epidemic over the past 18 months, spurring the effort by the WTO and Liberia's...

  • *Extended drought seen in southern Africa, floods in east. POTCHEFSTROOM, South Africa, Oct 2- Standing waist-deep in a hole, South African maize farmer Tom van Rooyen digs at the side with a small pickaxe. Poor rains are forecast for South Africa's maize belt because of the El Nino weather pattern, expected to bring more drought to already-parched southern regions...

  • DIARY-Emerging Markets Economic Events to Oct 5 Monday, 21 Sep 2015 | 8:02 PM ET

    WASHINGTON- International Monetary Fund Managing Director Christine Lagarde will speak at the Brookings Institute- 1530 GMT. German Finance Minister Wolfgang Schauble, Luxembourg Finance Minister Pierre Gramegna, Polish Finance Minister Mateusz Szczurek and European Commission President Jean-Claude Juncker are the key speakers.

  • *Low-cost airlines launch, expand in Africa. Fastjet is among a wave of low-cost airlines launching or expanding operations in Africa as they seek to capture middle-income travellers who are tired of dangerous road journeys but cannot afford major international carriers. Where low-cost routes have opened in Africa, prices have dropped by around 40 percent...

  • NAIROBI, Aug 18- Kenyan Finance Minister Henry Rotich on Tuesday promised further steps, including cutting the budget deficit, to stabilize the currency after a 12 percent fall against the dollar so far this year. Rotich said the bulk of this gap was covered by funds already secured from China for the construction of a modern railway linking the port of Mombasa to...