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Business

UAE power firm expands local presence

24 April 2014, 12:19

A United Arab Emirates-based global provider of temporary power solutions has expanded its operations locally following the opening of a branch in Nairobi to serve the East Africa territory.

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Facebook profits nearly triple, mobile soars

24 April 2014, 11:25

Facebook profits have nearly tripled in the first quarter on a 72% surge in revenues, helped by gains in mobile users and mobile advertising.

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Yields rise on Kenya's 182-, 364-day T-bills

24 April 2014, 08:09

The weighted average yields on Kenya's 182- and 364-day Treasury bills inched higher at auction, the central bank said.

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Base resources discloses Kwale spend

23 April 2014, 18:33

Base Resources Limited, the Australian exploration and mining firm, will invest AUS$ 37 000, in its local operations in the ongoing quarter of the year.

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Mayfox Mining upgrades for NSE listing

23 April 2014, 17:35

Mayfox Mining, the locally-owned gold exploration company, is upgrading its enterprise resource planning solutions ahead of its listing on the Nairobi Stock Exchange (NSE).

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Co-op bank basks in international award

23 April 2014, 11:14

The Co-operative Bank of Kenya is revelling at two international awards a prominent international think-tank has bestowed on it.

Simba commences local oil exploration

23 April 2014, 12:18

Simba Energy, the Canadian oil and gas company, has announced that it will soon commence airborne survey in Kenya.

Housing Finance posts 13 pct profit rise in Q1

23 April 2014, 08:04

Kenya's second largest mortgage provider, Housing Finance, reported a 13 percent rise in pretax profit for the first quarter helped by a surge in non-interest income.

Kenya to seek natural gas from Qatar for 700 MW power plant

23 April 2014, 07:01

Kenya will negotiate the import of natural gas from Qatar Gas to fuel a power station it wants built in the Indian Ocean port city of Mombasa.

Atkins wins €15.3 million sustainable energy contract

22 April 2014, 10:15

Atkins won €15.3 million contract to assist 24 African countries develop sustainable energy solutions by 2030.

Powdered alcohol poised to hit US stores

22 April 2014, 09:33

Just add water and stir. A US company says its new powdered alcohol product has been approved by US regulators and is poised to hit stores in the coming months.

Alibaba to launch world's biggest IPO this week

21 April 2014, 08:02

Chinese e-commerce giant Alibaba is expected to file for its US initial public offering next week, moving closer to the biggest-ever listing by a tech firm.

Equity Bank looks to telecoms to boost growth

18 April 2014, 08:00

Equity Bank of Kenya will launch a telecoms services arm in a bid to grow its market share in the fast-growing mobile phone-based financial services market, it said.

Expanding loan book buoys profits at Equity Bank

17 April 2014, 11:53

Equity Bank's first-quarter pretax profit was up 21 percent at 5.4 billion shillings ($62.14 million), lifted by growth in its loan book.

East African nations seek funding adviser for $4B railway

17 April 2014, 10:24

Tanzania, Rwanda and Burundi are looking for an adviser to help them secure financing for a $4.13 billion railway project aimed at boosting cross-border trade in the region.

High remittance fees hurt Africa - think tank

17 April 2014, 07:36

Africans face the highest remittance fees globally, regularly paying a "super tax" to send money home at a cost that holds back development, says a think tank.

NSE makes landmark results announcement

16 April 2014, 12:06

The Nairobi Securities Exchange (NSE) announced its 2013 financial results marking a premier public announcement of the bourse’s performance in its 60-year history.

Kenya says EAC-EU trade talks could be concluded by May

16 April 2014, 09:32

The ongoing trade talks between the East African Community (EAC) and the European Union could be concluded by the end of May.

TransCentury says 2013 profit fell by 30 percent

16 April 2014, 07:31

TransCentury Limited posted a 30 percent drop in its pretax profit for 2013 to 856.6 million shillings ($9.9 million).

UN praises Kenya on transition to green economy

15 April 2014, 17:37

Kenya stands to gain greater economic benefits and food security while lowering the level of environmental pollution through a shift towards the green economy, UN said.

Uwezo fund to be rolled out by end of the month

15 April 2014, 10:22

The government’s KES 6 billion Uwezo fund flagship project is set to be rolled out in all the 47 counties by the end of this month.

Pancontinental completes exploration exercise

15 April 2014, 09:17

Pancontinental Oil and Gas has announced the completion of exploration of oil and gas at off-shore Kenya at the Sunbird-1 well.

Twitter accused of tax evasion

15 April 2014, 07:31

Twitter has been urged by Istanbul to open an office and start paying Turkish tax in the first direct talks since a two-week ban imposed on the site.

ERC cuts the pump price of diesel and kerosene

14 April 2014, 16:12

The Energy Regulatory Commission (ERC) cut the maximum retail price of a litre of diesel and kerosene till mid-May but raised the price of a litre of petrol citing an increase in import costs.

Amazon offers staff $5 000 to quit

14 April 2014, 09:57

Online retailer Amazon is offering employees who aren't happy working for the growing company $5 000 to quit.

Financial Indicators

KES/$ 0.0114 (0.87%)
KES/£ 0.0068 (0%)
KES/€ 0.0083 (0%)
KES/ZAR 0.1211 (-0.17%)
ABRI Kenya Index 148.46 (0.16%)
NSE 20 Share Index 4904.66 (0%)

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