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Business Kenya

  • LAGOS, Nigeria-- The United Kingdom's business secretary said Monday that a bill to overhaul Nigeria's oil industry should be focused on what helps the West African nation, rather than what benefits the foreign oil companies working there.

  • NAIROBI, Oct 8- Kenya's central bank said that its official usable foreign exchange reserves. to $5.159 billion in the week to Friday from $5.163 billion the previous week. Here are highlights from its latest weekly bulletin:.

  • NAIROBI, Oct 8- Kenya's central bank said on Monday it was in the repurchase agreements market to mop up 7 billion shillings in excess liquidity. The central bank has been actively soaking up liquidity using repos most of this year, stabilising the shilling after a dramatic slide last year that caused the central bank to adopt a tight monetary policy stance.

  • NAIROBI, Oct 8- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. *The rules of the game in South Africa's labour market have changed and. wildcat strikers at mining giant Anglo American Platinum.

  • MOGADISHU, Somalia-- Somalia's president has appointed a new prime minister, a businessman who worked as a government economist in the 1980 s. Abdi Farah Shirdon was named prime minister on Saturday. Shirdon studied economics at Somalia National University in the 1970 s.

  • NAIROBI, Oct 5- Kenya's stock market edged higher for the third day in a row on Friday, boosted by a jump in shares of Equity Bank. Equity Bank, Kenya's biggest bank by customer numbers, rose 2.2 percent to 23.50 shillings per share, cheered by the appointment of a new chief operating officer and a group finance director on Thursday.

  • *Govt faces 40 bln shilling funding shortfall. NAIROBI, Oct 5- Kenya has approved new taxes targeting oil and mining firms and mobile phone-based money transfer services to help plug a growing funding gap, though the move could potentially scare off foreign investors.

  • NAIROBI, Oct 5- Kenya's central bank said on Friday it planned to absorb 7 billion shillings in excess liquidity from the money markets through repurchase agreements. The bank has persistently mopped up liquidity most of this year to support the shilling. The local currency has gained 0.3 percent against the dollar in the year-to-date.

  • NAIROBI, Oct 5- The Kenyan shilling. AT 0715 GMT, commercial banks posted the shilling at 84.85/ 85.05 per dollar, unchanged from Thursday's close. The only major news will be the Monetary Policy Committee meeting and we might see on the shilling towards the decision, "said Julius Kiriinya, a trader at African Banking Corporation.

  • NAIROBI, Oct 5- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. *MAURITIUS- Mauritius releases inflation data for September. *MAURITIUS- Bank of Mauritius auctions 364- day Treasury bills worth a.

  • NAIROBI, Oct 4- Kenya's stock market inched up on Thursday, driven by a jump in shares of Equity Bank. Equity Bank, Kenya's biggest bank in terms of the number of account holders and one of the most frequently traded shares on the bourse, rose 2.2 percent to finish at 23 shillings per share, after the bank named a new chief operating officer and a group finance director.

  • NAIROBI, Oct 4- The weighted average yield on benchmark Kenyan 91- day Treasury bills rose to 8.439 percent at an undersubscribed auction on Thursday from 8.093 percent last week, the central bank said. The central bank received 2.5 billion shillings in bids for the 4 billion shillings worth of three-month paper on offer and accepted 2.03 billion shillings.

  • NAIROBI, Oct 4- The Kenyan shilling. At 0730 GMT, the shilling was at 84.85./ 85.05, barely changed from Wednesday's close of 84.85/ 95.. "We are expecting it to firm a bit since we saw interest rates rise yesterday," said Solomon Alubala, head of treasury at Co-operative Bank.

  • NAIROBI, Oct 4- Kenya's central bank said on Thursday it intended to absorb 5 billion shillings in excess liquidity from the money markets through repurchase agreements. The bank has persistently mopped up liquidity most of this year to support the shilling, which is 0.2 percent stronger than the dollar in the year-to-date.

  • NAIROBI, Oct 4- The Central Bank of Kenya said on Thursday it was offering a two-year Treasury bond worth up to 12 billion shillings for sale this month. The re-opened bond is on sale until Oct.23 and will be auctioned a day later, with its proceeds being used for budgetary support.

  • *NIGERIA- Nigeria's cabinet expected to deliver the government's 2013. *ZAMBIA- Bank of Zambia auctions Treasury bills of various maturities. MAURITIUS- Bank of Mauritius auctions 273- day Treasury bills worth a.

  • NAIROBI, Oct 3- The weighted average yield on Kenya's 364- day Treasury bills rose to 10.570 percent at an undersubscribed auction on Wednesday from 10.336 percent at the previous auction on August 29, the central bank said.

  • NAIROBI, Oct 3- Pan-African oil& gas explorer Simba Energy is to drill its first well in northeast Kenya in 2013, a company executive said on Wednesday, the latest effort by an energy firm to find oil in the east African nation.

  • Uganda's central bank lowered its key lending rate. The auction will give us a clear direction of the shilling, "said Seif Kiwanuka, head of treasury at Diamond Trust Bank. "We saw some profit taking from banks after the rate cut at below 2,570," said Faisal Bukenya, head of market making at Barclays Bank.

  • NAIROBI, Oct 3- Kenya's central bank said on Wednesday it intended to absorb 8 billion shillings in excess liquidity in the money markets through repurchase agreements. The bank has persistently mopped up liquidity most of this year to support the shilling, which is 0.3 percent stronger than the dollar in the year-to-date.