*The central bank has cancelled three auctions in 2017. *Government has raised 117 bln shillings so far. NAIROBI, March 16- A cap on commercial lending rates by the Kenyan government has hurt its own ability to raise funds in the local debt market as it struggles to keep yields below the maximum threshold.
*Smugglers bringing in large numbers of weapons from Yemen. Gunmen hijacked the Aris 13, a small oil tanker, on Monday and are demanding a ransom to release the ship and its eight Sri Lankan crew, the EU Naval Force that patrols the waters off Somalia said. We have no government to speak on our behalf, "said fisherman Mohamed Ismail.
NAIROBI, March 15- Kenyan President Uhuru Kenyatta brushed off criticism of government borrowing in a state of the nation speech on Wednesday, saying it had funded the most aggressive development drive in the country's history. Kenya's national debt has risen to 50 percent of GDP from 42 percent when Kenyatta came to power, prompting criticism from the...
ANTANANARIVO, March 14- Vanilla producers on the tropical island of Madagascar say a cyclone that killed 78 people has also damaged around 30 percent of the crop in the world's biggest producer. Madagascar produces nearly half the world's crop, according the U.N. Food and Agriculture Administration. In 2015, Madagascar was estimated to have produced 3,914...
ANTANANARIVO, March 14- Vanilla producers on the tropical island of Madagascar say a cyclone that killed 51 people has also damaged around 30 percent of the crop in the world's biggest producer. Madagascar produces nearly half the world's crop, according the U.N. Food and Agriculture Administration. In 2015, Madagascar was estimated to have produced 3,914...
*Eight crew believed on Dubai- owned fuel freighter Aris 13- expert. NAIROBI, March 14- Somali pirates are suspected of hijacking a Sri Lankan-flagged fuel freighter that sent a distress call, turned off its tracking system and altered course for the Somali coast, a piracy expert said on Tuesday. The Aris 13 was believed to be carrying eight crew, said John Steed of...
*From Oslo to Sydney, city ties with government strained. OSLO, March 13- Cities from Oslo to Sydney are setting goals to curb climate change that exceed national targets, causing tensions with central governments about who controls policy over green energy and transport and construction. Although there are no officially collated statistics available, many...
*Hyperinflation in South Sudan causes loss. *CEO says closing 5-7 outlets in South Sudan. NAIROBI, March 9- A government cap on commercial lending rates is likely to cut KCB Group's pretax profit by 2 percent this year and will mean fewer loans to small and medium sized firms, Kenya's biggest lender by assets said on Thursday.
To help the world's poorest, Markit is using modern technology to connect small farmers and urban wholesale traders in East Africa.
The border security market is expected to grow to $23.7 billion by 2025, NBC News reports.
NAIROBI, Jan 18- Privately-owned Nakumatt, Kenya's biggest supermarket chain by sales, has agreed to sell a 25 percent stake to a foreign fund for $75 million, part of an effort to bolster its balance sheet and pay off debts, its managing director said on Wednesday. Nakumatt, which started with a single store in Nairobi in 1992, operates 68 outlets in Kenya and...
State broadcaster Central China Television has rebranded its international networks and digital presence under the name China Global Television Network.
NAIROBI, Dec 2- China's Exim Bank has expressed interest in financing the third section of Kenya's planned rail link with Uganda at an estimated cost of $4.9 billion, a senior Kenya Railways official said on Friday. "China Exim Bank has expressed an intention to finance this," Atanas Maina, Kenya Railways managing director, told a news conference.
China has imposed stricter checks on outbound investment deals to safeguard its reserves, the SCMP reports.
Donald Trump's campaign manager Kellyanne Conway tweeted she was hanging out with Obama's Republican half-brother, Malik Obama.
Malik Obama, Barack Obama's half-brother, will attend the final presidential debate as a guest of Donald Trump, reports NBC.
Mark Zuckerberg's mission to connect the world just got harder.
Tony Elumelu, chairman of Heirs Holdings and the United Bank for Africa, adds that many African economies offer exciting opportunities for investors.
Another nation is set to extract oil and expects to be adding to global production by June next year.
Two blasts stuck a village in Syria; a woman was found alive in a collapsed building in Kenya; hundreds of taxi drivers in Sao Paulo protest against Uber, reports CNBC's Sue Herera.