- OTTAWA, Sept. 19 (Xinhua) — The Canadian federal government on Wednesday announced a further reduction of international students to manage the volume of temporary resident arrivals. Immigration, Refugees and Citizenship Canada (IRCC) said in a news release that in 2025 new international student…
- NEW YORK, Sept. 19 (Xinhua) — U.S. stocks ended lower on Wednesday, after the Federal Reserve announced a 0.5-percentage-point interest rate cut. The Dow Jones Industrial Average fell 103.08 points, or 0.25 percent, to 41,503.1. The S&P 500 sank 16.32 points, or 0.29 percent, to 5,618.26. The…
- SEP 18 – The US central bank has cut interest rates by more than expected in its first reduction in over four years, a milestone moment for the world’s largest economy. The Federal Reserve said it would lower the target for its key lending rate by 0.5 percentage points, to the range of 4.75%-5%.…
- SEP 18 – Boeing is suspending the jobs of tens of thousands of staff in the US in response to a strike that has shut down production of some of its airplanes. The aerospace giant said US-based executives, managers and staff would be asked to take one week of furlough every four weeks as long […]
- NAIROBI, Sept. 18 (Xinhua) — The International Monetary Fund (IMF) on Tuesday urged Kenya to intensify efforts to tackle budgetary and economic challenges, following reforms in the East African country that sparked mass protests in June. Haimanot Teferra, the IMF team leader who concluded a six-day…
- NAIROBI, Kenya Sept 18 – Sector players in the Jua Kali Industry have urged the government to ensure that Technical Vocational Education and Training Institutes (TVETs) are well and technologically equipped with modern equipment to meet international standards. The stakeholders in the sector stated…
- NAIROBI, Kenya, Sept 18 – Mwalimu National Sacco, one of Kenya’s largest savings and credit cooperatives, has recorded a drop in its institutional capital ratio, which now stands at 7.7 percent. This is below the level required by the Sacco Societies Regulatory Authority. According to SASRA, each …
- SEP 18 – Google has won its challenge against a €1.49bn (£1.26bn) fine from the EU for blocking rival online search advertisers. The bloc accused Google of abusing its market dominance by restricting third-party rivals from displaying search ads between 2006 and 2016. Europe’s second-top court…
- VIENTIANE, Sept. 18 (Xinhua) — Representatives from the member states of the Association of Southeast Asian Nations (ASEAN) attended the 56th ASEAN Economic Ministers’ Meeting to discuss several key issues aimed at positioning ASEAN as an attractive region for foreign investment. The meeting was…
- NAIROBI, Kenya Sept 18 – GA Insurance Limited has partnered with ARC Ride to offer M-TIBA-powered accident insurance cover for electric motorcycle riders. ‘SwapCare,’ a personal accident insurance plan, is specifically designed for e-bikes who utilise e-battery swap services. GA Insurance SwapCare…
- By Elisha Kamau SEP 18 – Since the late 1970s, when video cassettes and audio cassette recorders were introduced, and later the emergence of VCDs and DVDs in the early 2000s, the entertainment industry has been grappling with the issue of piracy. Despite the persistent efforts by copyright owners,…
- CAPE TOWN, Sept. 18 (Xinhua) — Twenty-five people were injured when a train derailed on Tuesday night in South Africa’s Western Cape province, local authorities confirmed on Wednesday. The derailment occurred at Dal Josafat Station near Paarl, about 60 kilometers northeast of Cape Town, according…
- NAIROBI, Kenya, Sept 18 – The COMESA Competition Commission has approved a merger between Access Bank and the National Bank of Kenya (NBK), providing the Nigerian lender with a platform for East African region expansion. The proposed transaction involves the acquisition of 100 percent of NBK’s…
- NAIROBI, Sept. 18 (Xinhua) — Kenya’s earnings from horticulture exports declined by 3.5 percent in the first half of 2024, driven by reduced shipments to markets in Europe and Asia, according to new economic data released on Tuesday by the national statistics bureau. The Kenya National Bureau of…
- FRANKFURT, Sept. 18 (Xinhua) — The EU has ignored fresh proposals from Chinese automakers aimed at resolving the dispute over Chinese EVs in the European market, undermining efforts to ease tensions through dialogue. The decision to impose tariffs on China-made EVs, despite several offers from…
- BERLIN, Sept. 18 (Xinhua) — The German government and its partners have pledged to invest around 12 billion euros (13.3 billion U.S. dollars) in venture capital by 2030 to support young startups for their innovations, according to a joint declaration made at a startup summit here on Tuesday. The…
- NAIROBI, Kenya, Sep 18 – Processor and exporter of macadamia Privamnuts has secured Sh387 million ($3 million) to expand production and undertake sustainable initiatives. The investors are Aavishkaar Capital and the German state-owned investment and development bank (KfW). “We are excited to be…
- Sep 18 – India’s foreign exchange reserves have been steadily rising, hitting several all-time highs this year. As of the latest data from the Reserve Bank of India (RBI), the forex reserves have grown by USD 66 billion in 2023, reaching a total of USD 689.235 billion. This significant buffer helps…
- NEW DELHI, Sept. 17 (Xinhua) — India’s wholesale price index declined to 1.31 percent in August, data released by the federal ministry of commerce and industry said Tuesday. “Positive rate of inflation in August 2024 is primarily due to increase in prices of food articles, processed food products,…
- NAIROBI, Sept. 17 (Xinhua) — Kenya on Tuesday published a performance benchmarking study report for energy-consuming facilities to reduce greenhouse emissions in the country. Daniel Kiptoo Bargoria, director-general of the Energy and Petroleum Regulatory Authority, told journalists in Nairobi, the…
- NAIROBI, Sept. 17 (Xinhua) — The National Treasury projects the country’s economy to grow by 5.2 percent in 2024 and 5.4 percent in 2025. In its Budget Review and Outlook Paper, the Treasury said increased agricultural productivity and a resilient services sector would support the growth. According…
- NAIROBI, Kenya, September 17 – CREST, the global non-profit organization dedicated to supporting the cyber security industry, is ramping up efforts to professionalize and expand cyber security service providers worldwide. With the introduction of the Cyber Accelerated Maturity Programme (CREST CAMP…
- NAIROBI, Kenya, Sep 17 – Pan-African financier of housing, urban, and related infrastructures Shelter Afrique Development Bank (ShafDB) will on Thursday hold a private auction event for the sale of prime residential properties in five counties. The exclusive auction offers an opportunity for…
- SEP 17 – A woman has been ordered to pay back thousands of pounds to the Department for Work and Pensions after being incorrectly paid benefits she was told she was entitled to. Yvonne Buckley, from Ipswich, was overpaid by more than £5,000 in universal credit between November 2021 and August 2023…
- NAIROBI, Kenya, Sep 17 – Kenyan Special Economic Zones (SEZs) have received a boost after the launch of the Association of Special Economic Zones (ASEZ). ASEZs will play an important role in attracting local and international investments and creating jobs, as well as economic growth. The new…
- NAIROBI, Kenya, Sep 17 – Kenya Power will invest annually one percent of its profit after tax to social initiatives as it unveils a new foundation. The independent arm of the utility firm targets projects in energy and environment, education, and skills development, as well as social investment and…
- NAIROBI, Kenya, Sep 17 – An analysis of bank results in the first half of 2024 reveals that Kenyan consumers are choosing to save money rather than spend it or invest, highlighting deposit growth. Absa Bank Kenya Managing Director and CEO Abdi Mohamed said the lender’s deposit grew by 6 percent to…
- NAIROBI, Kenya Sept 17 – Visa applications processed by VFS Global in the country have now reached 80 percent of the total requests done in 2023. According to VFS Global 2024 Travel Trends, top outbound destinations for Kenyans are Saudi Arabia, where the majority of Kenyans travel for job…
- GENEVA, Sept. 17 (Xinhua) — World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala will seek another four-year term as chief of the trade body, the WTO spokesperson announced on Monday. According to the spokesperson, her decision was formally conveyed on Monday to the WTO General…
- NAIROBI, Kenya, Sep 17 – Restaurant chain Java House has launched an initiative to empower children as it marks its 25th anniversary. Dubbed ‘Kuza Mentorship Programme’, the program will equip young ones with soft skills, elevating their future success, foster academic and career goals, and provide…
- NAIROBI, Sept. 17 (Xinhua) — Kenya on Monday pledged to scale up an awareness campaign on the devastating impacts of ozone layer depletion. Aden Duale, cabinet secretary for the Ministry of Environment, Climate Change and Forestry, said the campaign will provide an opportunity to further educate…
- NAIROBI, Kenya, September 17 – Nairobi and Mombasa are some of the African cities that are grappling with water shortages, a new report reveals, highlighting the impact of urbanization on meager resources. A new report by the Centre for Science and Environment India titled ‘The State of Africa’s…
- SEP 17 – Amazon is ordering staff back to the office five days a week as it ends its hybrid work policy. The change will come into force from January, Amazon’s chief executive Andy Jassy said in a memo to staff. “We’ve decided that we’re going to return to being in the office the way we […]
- SEP 17 – Facebook owner Meta says it is banning several Russian state media networks, alleging they use deceptive tactics to carry out influence operations and evade detection on its platforms. “After careful consideration, we expanded our ongoing enforcement against Russian state media outlets.…
- SYDNEY, Sept. 17 (Xinhua) — A Qantas flight was forced to make an emergency landing on Tuesday in northeast Australia after a cabin pressure issue. Flight QF1871 from Townsville to Brisbane in the state of Queensland diverted and made an emergency landing at Rockhampton, approximately halfway…
- NAIROBI, Sept. 17 (Xinhua) — The Judiciary of Kenya has fast-tracked the digitization process in a bid to ease the backlog of cases and ensure that litigants, including ordinary citizens, state agencies, and the private sector, are adequately served, senior officials said on Monday. Chief Justice…
- NEW YORK, Sept. 16 (Xinhua) — Boeing said on Monday that it would freeze hiring and delay pay increases for its salaried workforce as the jet maker grapples with financial fallout from a strike launched on Friday by its largest union. The company announced the cost-saving measures in a memo to…
- NAIROBI, Kenya, Sep 16 – Counties are facing a looming cash crisis as the National Assembly and Senate clash over the equitable revenue share to devolved units for the current financial year. The National Assembly has passed the Division of Revenue Bill 2024, approving a revenue share of Sh380…
- NAIROBI, Kenya, Sep 16 – President William Ruto has appointed National working Committee to review the new University funding model that has sparked Nationwide debate. In a gazette notice, President Ruto stated the National working Committee shall have four sub committees that shall be tasked with…
- NAIROBI, Kenya Sept 16 – The government is seeking to review laws related to security rights over movable property through the introduction of the Movable Property Security Rights (Amendment) Bill, 2024. The Bill, which is currently under review by the Finance parliamentary committee, is pushing…
- MANILA, Sept. 16 (Xinhua) — Personal remittances from overseas Filipinos reached 3.43 billion U.S. dollars in July, an increase of 3.2 percent over the same period last year, the central bank said Monday. The Bangko Sentral ng Pilipinas (BSP) said cumulative remittances grew 3 percent to 21.53…
- NAIROBI, Kenya, Sept 16 – Kenya Electricity Transmission Company (KETRACO) says its deal with Adani and Africa50 for construction of a power transmission line brings private sector expertise. Its Managing Director, John Mativo, announced today that the deal aims to infuse private sector expertise…
- By Njeri Jomo NAIROBI, Kenya, Sep 16 – The global financial services industry is facing climate-driven losses of upto Sh232.5 trillion ($1.8 trillion) by 2050. This staggering amount will shake the industry and wipe out companies that will be found unprepared. But as the threat looms, only 25…
- TOKYO, Sept. 16 (Xinhua) — The Japanese yen hit its strongest level in more than a year on Monday, rising briefly to the 139 yen zone against the U.S. dollar in Asian trading, due to growing speculations of a possible U.S. rate cut by 0.50 percentage points later this month. The U.S. dollar was…
- NAIROBI, Kenya, Sep 16 – The Kenya Revenue Authority (KRA) has netted Sh5.77 billion of illicit goods at the border points as the taxman intensifies campaign against prohibited trade. The intervention netted 15,848 non-compliant taxpayers (businesses and individuals), resulting in over 100,000…
- NAIROBI, Kenya, Sept 16 – Kenya Electricity Transmission Company (KETRACO) has clarified that the plan to develop a 625-kilometer high-voltage power transmission line in Kenya remains in the approval stage, with no formal agreements yet signed. KETRACO Managing Director John Mativo asserted that…
- SEP 16 – Groups supporting women in science, technology, engineering and maths (Stem) fields are struggling to survive as corporations’ shrinking budgets, and cultural changes, see diversity strategies take a back seat. Ada Lovelace Day – a global annual celebration of women working in Stem – is on…
- NAIROBI, Kenya, Sep 16 – Rural internet service provider (ISP) Mawingu has expanded its internet service to Mandera County, providing locals affordable broadband. This now brings its total connected counties to 30, serving 19,500 home and business customers. “Mawingu marks yet another milestone…
- SEP 16 – TikTok will start making its case on Monday against a law that will see it banned in the US unless its Chinese owner ByteDance sells it within nine months. The measure – signed into law by President Biden in April – has been prompted by concerns that US users’ data is vulnerable […]
- JERUSALEM, Sept. 16 (Xinhua) — Israel’s 12-month inflation rate rose to 3.6 percent in August, up from 3.2 percent in July, according to data released by the country’s Central Bureau of Statistics on Sunday. The new figure, the highest in 10 months, further surpassed the government’s annual target…
