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Business

Tourism crisis keeps shilling under pressure

21 August 2014, 14:34

The shilling edged down against the dollar and traders said it was likely to remain under pressure due to a sharp decline in tourism.

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KenolKobil H1 pretax profit jumps 299 pct on cost cuts

21 August 2014, 08:30

Kenyan oil marketer KenolKobil reported a 299 percent jump in first half pretax profit to 795 million shillings ($9.01 million), largely due to cost savings.

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Britam's half-year profit leaps 31 pct

20 August 2014, 13:31

British American (Britam) achieved a 31 percent jump in pretax profit in the six months to the end of June, the company said.

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Cancellation of W Africa flights hurting hospitality industry

20 August 2014, 12:11

The hospitality industry has raised concern over the government’s move to cancel some West African flights for fear of Ebola saying the directive will heavily affect the industry.

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Kenyan shilling weakens against dollar, shares rise

20 August 2014, 10:52

The Kenyan shilling has weakened, hurt by dollar demand from the banking, oil and telecoms sectors, while shares rose.

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African Development Bank pledges $60 mn to fight Ebola

20 August 2014, 07:53

The African Development Bank has pledged $60 million to help fight the worst-ever outbreak of Ebola which is raging across west Africa.

Maersk raises profit outlook

19 August 2014, 15:36

Shipping and oil conglomerate AP Moeller Maersk has raised its profit guidance after results had been boosted by a strong container shipping unit.

Kenya's Limuru Tea 1st-half profit drops 42 pct on weaker prices

19 August 2014, 07:23

Kenyan agricultural firm Limuru Tea reported a 42 percent drop in first-half pretax profit and forecast lower revenue in the second half of the year, blaming weaker tea prices for both declines.

Tobacco farmers stage demo over unpaid dues

18 August 2014, 11:47

Business came to a standstill in Kehancha town in Migori County Saturday after hundreds of tobacco farmers staged a demonstration demanding over KES 100 million they owe a tobacco buying firm.

Measures underway to ease electricity burden on consumers

18 August 2014, 08:06

Deputy President William Ruto has said that plans are underway to ease the electricity burden of both domestic and industrial consumers.

Mugabe urges southern Africa to reduce dependence on aid, optimise natural resources

18 August 2014, 07:20

Zimbabwean President Robert Mugabe urged southern Africa to reduce its dependence on foreign aid and to make better use of its natural resources such as minerals and land.

Kenya Airways to suspend flights to Freetown, Monrovia due to Ebola

17 August 2014, 06:46

Kenya Airways will suspend flights to Liberia's capital Monrovia and Sierra Leone's capital Freetown due to the Ebola outbreak in West Africa, the company said.

Interesting stats on women and money

16 August 2014, 09:46

When it comes to spending money and saving, there are differences between the behaviour of men and women, research shows.

Kenya Airways defends flights to Ebola-stricken West Africa

15 August 2014, 14:58

Kenya Airways said flights to some West African destinations would continue as there are "no major risks" to warrant the halting of flights.

CIC Insurance says H1 profit up 67 pct as premiums rise

15 August 2014, 12:10

CIC Insurance posted a 67 percent rise in pretax profit for the first half of this year to 154 million shillings due to an expansion in new premiums and investment income.

PwC new report puts the spotlight on the largest cities in sub-Saharan Africa

15 August 2014, 12:42

By 2040, Africa will experience faster economic growth than any other region and is expected to have the biggest labour force in the world.

Kenya Re 1st-half profit up 6 pct on new business

15 August 2014, 07:24

Kenya Reinsurance Corp reported a 6 percent rise in first-half pretax profit to 1.7 billion shillings as revenue increased from its businesses in Kenya and other African markets.

Jamia Mosque Education Fund receives KES 100K donation from Airtel

14 August 2014, 13:26

The Jamia Mosque Education Fund has received KES 100,000 donation from Airtel Kenya to support its education welfare.

Korean Air suspends flights to Kenya over Ebola worries

14 August 2014, 11:09

Korean Air Lines Co Ltd said it will suspend flights to and from Nairobi from Aug. 20 to prevent the spread of the deadly Ebola virus.

Diamond Trust bank raises 3.6 bln shillings for expansion

14 August 2014, 08:18

Diamond Trust Bank has raised 3.6 billion shillings ($41 million) in an oversubscribed rights issue to expand its branch network in the region and to support lending.

G4S first-half profit rises on emerging markets demand

13 August 2014, 14:48

G4S, the world's biggest security group, posted a better-than-expected rise in first-half operating profit on Wednesday, led by strong demand in emerging markets.

Creating a 30-hour work week

13 August 2014, 12:44

Knowing how to use your time effectively is a more valuable skill than knowing how to make, manage, invest and spend money, says Pieter Scholtz.

Co-op Bank to expand in the region after solid first half

13 August 2014, 13:39

The Co-operative Bank of Kenya's said it would expand into Ethiopia and Uganda after reporting a rise in first-half pretax profit due to higher fees and net interest income.

Financial Indicators

KES/$ 0.0113 (0%)
KES/£ 0.0068 (-1.49%)
KES/€ 0.0085 (-1.19%)
KES/ZAR 0.1205 (-0.25%)
ABRI Kenya Index 156.58 (0.28%)
NSE 20 Share Index 5048.69 (-0.42%)

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