Business News Kenya

  • CHICAGO, Sept 17- A lawyer for victims of Ethiopian Airlines Flight 302 said on Tuesday he wants Boeing Co and the U.S. Federal Aviation Administration to hand over documents about the decision to keep the Boeing 737 MAX in the air after a deadly Lion Air crash last October. A week after Lion Air Flight 610 nose-dived into the Java Sea, killing all 189 aboard, the FAA...

  • NAIROBI, Sept 11- Kenyan lawmakers on Tuesday debated changes to a law capping commercial interest rates after the High Court gave parliament an ultimatum to alter the law to comply with the constitution. In March this year, the High Court ruled that the section of the law capping rates was unconstitutional and gave parliament a year to amend it.

  • *Mugabe led Zimbabwe to independence from Britain. HARARE, Sept 6- Robert Mugabe, the bush war guerrilla who led Zimbabwe to independence and crushed his foes during nearly four decades of rule as his country descended into poverty, hyperinflation and unrest, died on Friday. He died in Singapore, where he had long received medical treatment.

  • *Mugabe led Zimbabwe to independence from Britain. HARARE, Sept 6- Robert Mugabe, the bush war guerrilla who led Zimbabwe to independence and crushed his foes during nearly four decades of rule as his country descended into poverty, hyperinflation and unrest, died on Friday. He died in Singapore, where he had long received medical treatment.

  • *Mugabe led Zimbabwe to independence from Britain. HARARE, Sept 6- Robert Mugabe, the bush war guerrilla who led Zimbabwe to independence and crushed his foes during nearly four decades of rule as his country descended into poverty, hyperinflation and unrest, died on Friday. "It is with the utmost sadness that I announce the passing on of Zimbabwe's founding father...

  • *Mugabe led Zimbabwe to independence from Britain. HARARE, Sept 6- Robert Mugabe, the bush war guerrilla who led Zimbabwe to independence and crushed his foes during nearly four decades of rule as his country descended into poverty, hyperinflation and unrest, died on Friday. "It is with the utmost sadness that I announce the passing on of Zimbabwe's founding father...

  • *Mugabe led Zimbabwe to independence from Britain. HARARE, Sept 6- Robert Mugabe, the bush war guerrilla who led Zimbabwe to independence in 1980 and crushed his foes during nearly four decades of rule as his country descended into poverty, hyperinflation and unrest, died on Friday. "It is with the utmost sadness that I announce the passing on of Zimbabwe's founding...

  • *Mugabe led Zimbabwe to independence from Britain. HARARE, Sept 6- Robert Mugabe, the bush war guerrilla who led Zimbabwe to independence in 1980 and crushed his foes during nearly four decades of rule as his country descended into poverty, hyperinflation and unrest, died on Friday. "It is with the utmost sadness that I announce the passing on of Zimbabwe's founding...

  • *Mugabe led Zimbabwe to independence from Britain. HARARE, Sept 6- Robert Mugabe, the bush war guerrilla leader who led Zimbabwe to independence in 1980 and crushed his foes during nearly four decades of rule as his country descended into poverty, hyperinflation and unrest, died on Friday. "It is with the utmost sadness that I announce the passing on of Zimbabwe's...

  • PARIS, Sept 4- African-based agribusiness firm Export Trading Group has hired Stephane Bernhard, previously grain trading chief at France's InVivo, as global head trader for exchange-traded commodities. Confirming Bernhard's appointment, an ETG spokeswoman said he would be based out of a newly established office in Amsterdam and report to Ronald Jetten,...

  • *Total blocks Shell deal in S. Africa to award it to Qatar. LONDON, Aug 29- When Royal Dutch Shell wanted to buy a stake last year in a promising exploration block off South Africa, Total, the asset's main shareholder, used its right to stymie the deal and acquired the share itself, only to sell it on to Qatar Petroleum. Liquefying the gas allows its transportation to...

  • NAIROBI, Aug 28- Kenya's anti-corruption commission said on Wednesday it had suspended a planned merger of Airtel Kenya with partly state-owned Telkom Kenya pending a probe into allegations about the misappropriation of public funds at Telkom. The merger was suspended because the Ethics and Anti-Corruption Commission was "conducting investigations...

  • NAIROBI, Aug 27- Kenya Airways, which is being renationalised to save it from mounting debts, saw its first-half pretax loss more than double from a year earlier to 8.56 billion Kenyan shillings, its results statement showed on Tuesday. The carrier said its first-half revenue rose 12.2% from a year earlier to 58.55 billion shillings, which Chief Financial...

  • NAIROBI, Aug 27- Kenya Airways posted a pretax loss of 8.56 billion Kenyan shillings in first half of 2019, compared with a loss of 3.99 billion shillings in the same period in 2018, it said on Tuesday.

  • JOHANNESBURG, Aug 27- South Africa's Standard Bank has taken a stake in local fintech firm Nomanini to offer credit to potentially millions of small shop owners and other informal retailers across Africa that have limited access to banking services. Using Nomanini technology, Standard Bank will collect and analyse data on the retailers.

  • MOMBASA, Kenya, Aug 26- Kenya exported its first crude oil on Monday, amid pointed speeches by local leaders asking the government to stick to its commitment to share revenues from future shipments equitably. As the first shipment left Kenya's port of Mombasa, three governors, an oil executive and the president compared carving up the profits to sharing a goat.

  • NAIROBI, Aug 15- Kenya has approved its first ever issuance of a green bond, which will raise 5 billion shillings for student accommodation, the capital markets regulator CMA said on Thursday. "The issuance is a critical step in advancing the development of an effective ecosystem to support the establishment of green capital markets in Kenya," the CMA said in a...

  • NAIROBI, Aug 14- Kenya's government revenues grew 11% in the 2018/ 19 fiscal year, the tax authority said on Wednesday, but this fell short of the target set for the year. The Kenya Revenue Authority said in a statement its collections grew to 1.58 trillion shillings during the year to end-June, up from 1.435 trillion shillings in 2017/ 2018.. Kenya is one of the...

  • NAIROBI, Aug 9- East African Portland Cement backed away from a plan to dismiss its entire 800- strong workforce on Friday, saying it would make a further statement about restructuring the company. Portland swung to a pre-tax profit of 6.96 billion shillings in the year to end June 2018 after a loss of 1.71 billion shillings in the previous year.

  • NAIROBI, Aug 8- Kenyan lender KCB Group's takeover of state-backed National Bank of Kenya will go ahead if its offer is accepted by 75% of National's shareholders, the markets regulator said on Thursday. KCB, Kenya's biggest lender by assets, offered to buy struggling National Bank in April through a share swap of one KCB share for every 10 shares of NBK.