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Business Kenya

  • BRUSSELS/ NAIROBI, Jan 17- Police on Wednesday searched the headquarters of Belgian company Semlex, which supplies passports to various African countries, and the home of its CEO, Albert Karaziwan. About a dozen officers arrived at Semlex's office in Brussels and at Karaziwan's house in the city early in the morning. Earlier this week, authorities in the Comoros...

  • NAIROBI, Kenya— President Donald Trump's vulgar insult of Africa was a puzzle for many foreign media organizations, which didn't have a ready translation of his epithet for their readers or listeners. While meeting with senators on immigration, Trump questioned why the United States would accept more immigrants from Haiti and "shithole countries" in Africa,...

  • NAIROBI, Kenya— Kenya Airways says it will begin daily direct flights to the United States in October after years of being blocked by U.S. authorities over security concerns. CEO Sebastian Mikosz says ticket sales for the non-stop flights between Nairobi and New York are opening on Thursday. Kenya is East Africa's economic hub but has suffered from the...

  • NAIROBI, Jan 10- Electricity was restored in parts of Kenya's capital Nairobi and its central, western and coastal regions early on Wednesday after a major power blackout the previous day. The areas affected included parts of Nairobi, Mount Kenya, Nyanza, Western, Rift Valley and Coast regions, according to the company. Kenya Power, which has 6.4 million customers...

  • NAIROBI, Jan 9- A major power blackout hit Kenya's capital Nairobi and its central, western and coastal regions on Tuesday, while several parts of neighboring Uganda also had an electricity outage. The areas affected include parts of Nairobi, Mount Kenya, Nyanza, Western, Rift Valley and Coast regions, the company added. Kenya Power, which has 6.4 million customers...

  • Cranes stand during the sunset at a construction site at the hotel complex construct by Chinese company on October 15, 2015 in Colombo, Sri Lanka.

    China is using sovereign debt to gain political leverage over developing countries, according to Brahma Chellaney from the Center for Policy Research.

  • NAIROBI, Nov 30- The Kenyan and Ugandan shillings are forecast to firm against the dollar in the next week to Thursday, while Zambia's and Nigeria's currencies are expected to hold steady, traders said. The Kenyan shilling could strengthen against the. dollar in the coming week due to a rally in selected stocks at the Nairobi securities exchange attracting...

  • NAIROBI, Nov 29- Kenya on Wednesday signed a $620 million agreement to build a 530 km highway from its east coast to the centre of the country, part of a campaign to boost its role as a regional trade hub. Kenya wants to build up a role as a regional trade and transport hub, serving as a link to landlocked countries such as Burundi, Rwanda and Uganda. Macharia said the...

  • NAIROBI, Nov 29- Kenya on Wednesday signed a $620 million agreement to build a 530 km highway from its east coast to the center of the country, part of a campaign to boost its role as a regional trade hub. Kenya wants to build up a role as a regional trade and transport hub, serving as a link to landlocked countries such as Burundi, Rwanda and Uganda. Macharia said the...

  • Nairobi is back to "business as usual" says one analyst, though economic reform and high debt levels remain a concern.

  • Workers hand-pick tea leaves at the Simulbari Tea Estate in Darjeeling district, West Bengal, India, on Dec. 7, 2015.

    Tea-picking robots could soon hurt the livelihoods of millions of low-wage farmers around the world, Dilmah CEO said.

  • Kenya's President Uhuru Kenyatta speaks following the official announcement of election results on August 11, 2017, in the capital Nairobi.

    Kenya's Supreme Court on Monday upheld the re-election of President Uhuru Kenyatta in last month's repeat presidential vote.

  • NAIROBI, Nov 17- Kenya Airways reduced first-half losses by 20 percent, helped by cost cuts, and will start flights to New York next year, its new chief executive said on Friday as the company presses ahead with its turnaround. Revenue was flat, curbed by a drop in domestic and intra- Africa passenger traffic because of jitters over Kenya's presidential election in...

  • Lawyers at the Supreme Court in Nairobi, Kenya, on November 14, 2017, ahead of a hearing on October 26's repeat presidential election.

    The East African economic hub has seen election-related unrest politicize its economy.

  • NEW DELHI, Nov 14- A U.S.-backed entrepreneurship conference that President Donald Trump's daughter, Ivanka Trump, is attending in India this month has been flooded with applications amid deepening ties between India and the United States. Thousands of Indian entrepreneurs want to attend the three-day Global Entrepreneurship Summit, from Nov. 28 in the city...

  • NAIROBI, Nov 13- Kenya's government converted some loans to Kenya Airways into equity, lifting its stake to nearly 50 percent in an effort to return the carrier to profitability, the finance minister said on Monday. Kenya Airways posted the country's biggest ever annual corporate loss of 26 billion shillings in the financial year 2016, as it reeled from a slump...

  • *Airline reported Kenya's biggest corporate loss in 2016. NAIROBI, Nov 13- Kenya's government converted some loans to Kenya Airways into equity to lift its stake to nearly 50 percent in an effort to return the carrier to profitability, the finance minister said on Monday. Kenya Airways posted the country's biggest ever annual corporate loss of 26 billion...

  • NAIROBI, Nov 13- The Kenyan government and domestic lenders have agreed to convert more than $400 million of Kenya Airways' debt into equity, increasing the state's stake in the airline to almost 50 percent. The airline is undergoing a $700 million financial restructuring aimed at reducing its debts and returning to profitability after posting heavy losses,...

  • NAIROBI, Nov 13- The Kenyan government and domestic lenders have agreed to convert more than $400 million of Kenya Airways' debt into equity, increasing the state's stake in the airline to almost 50 percent. The government has given Kenya Airways more than $200 million of Kenyan shilling and dollar-dominated loans, the airline said in a statement on Monday to the...

  • *East Africa's biggest supermarket chain. NAIROBI, Nov 9- The implosion of a family-owned Kenyan mattress shop that grew to become East Africa's biggest supermarket chain is a cautionary tale about trying to grow too far, too fast to cash in on the rapid growth of the country's middle class. Kenya's High Court will rule on Nov. 16 on Nakumatt Supermarkets' petition...