- BERLIN, Sept. 5 (Xinhua) — The Munich-based ifo Institute for Economic Research has downgraded its economic growth outlook for Germany on Thursday, predicting zero growth for 2024, down from the previous estimate of 0.4 percent. The growth forecast for 2025 has also been revised downward…
- TOKYO, Sept. 5 (Xinhua) — Toyota Motor Corp. said Thursday it has resumed production of the three models that had been affected by a recent vehicle testing scandal. Production of the Corolla Fielder, Corolla Axio and Yaris Cross restarted on Wednesday, about three months after the auto giant…
- NAIROBI, Kenya, Sep 5 – Kenya Revenue Authority (KRA) has won a tax claim against M-Pesa Foundation amounting to Sh6.5 million. This comes after the Tax Appeals Tribunal dismissed an appeal by the M-Pesa Foundation, a charitable arm of Safaricom, to quash KRA withholding taxes demand. The M-Pesa…
- NAIROBI, Kenya Sept 5 – The National Police Service Commission (NPSC) has increased the basic salaries of police constables at entry level by Sh 4,000 from Sh 21,645 to Sh25,645. The Commission chairperson, Eliud Kinuthia, said on Thursday the decision to increase the police officers salaries…
- NAIROBI, Kenya Sep 4 – Members of Parliament have summoned Kenya Revenue Authority (KRA) Commissioner-General Humphrey Wattanga over claims the country lost over the Sh62 billion in a tax evasion scandal by Asia PTA limited and Louis Dreyfus Company Kenya (LDC) limited. This is after details…
- JAKARTA, Sept. 5 (Xinhua) — Indonesia kicked off on Thursday the two-day International Sustainability Forum (ISF) in Jakarta, gathering state leaders, decision-makers, CEOs and sustainability experts from 53 countries to build collaboration for green energy transition agenda. At the opening…
- NAIROBI, Kenya, Sep 5 – A liter of milk sold by farmers in Kenya rose by 5.7 percent to Sh49.9 last year, data from the State Department for Livestock Development shows. In 2022, farmers, on average, were getting Sh47.2 on the same volume. An increase in price came at a time when per capita milk […]
- NAIROBI, Sept. 4 (Xinhua) — Experts and officials met Wednesday in Nairobi, the capital of Kenya, to discuss ways to promote access to healthcare in East Africa. The three-day Medic East Africa Exhibition has brought together more than 8,000 visitors, 200 exhibitors, as well as senior government…
- SEP 5 – Car company Volvo has announced it has abandoned its target to produce only fully electric cars by 2030, saying it now expects it will also be selling some hybrid vehicles by that date. The car maker blamed changing market conditions for its decision to give up a target it had announced…
- Nairobi, Kenya, September 5 -Trends Research, a leading data technology company headquartered in the Innovation Hub, DIFC, Dubai, is excited to sponsor the Africa Fintech Summit 2024, taking place from September 4-6 at the J.W. Marriott in Nairobi. The summit will gather industry leaders to discuss…
- NAIROBI, Kenya, Sep 4 – Devolved units across Kenya’s 47 counties are facing a looming crisis as county government workers threaten to down tools over unresolved pay grievances. The Kenya County Government Workers Union (KCGWU), which represents various county employees, including firemen, garbage…
- SEP 4 – Motor dealer CFAO Motors Kenya’s Toyota and Mercedes-Benz received top honors in the latest Brand Africa 100 ranking. The report, sponsored by Capital Club and Brand Africa in partnership with Gina Din Group, named Toyota as the most admired brand in Kenya, followed by Honda and Mercedes-…
- GENEVA, Sept. 4 (Xinhua) — The World Trade Organization’s (WTO) Goods Trade Barometer released on Wednesday indicated that global goods trade continued its recovery in the third quarter of 2024. The barometer, a composite leading indicator for global merchandise trade, recorded a latest reading of…
- OTTAWA, Sept. 4 (Xinhua) — The Bank of Canada reduced its policy rate by 25 basis points to 4.25 percent on Wednesday. The bank said in a news release that with continued easing in broad inflationary pressures, the Governing Council decided to reduce the policy interest rate by a further 25 basis…
- LUSAKA, Sept. 4 (Xinhua) — African countries should strengthen regional collaboration on the development of carbon market frameworks to deal with challenges many countries are facing, according to a communique issued after a meeting Wednesday. Many countries in sub-Saharan Africa are facing…
- NAIROBI, Kenya Sep 4 – Twenty recruitment agencies have been de-registered as the state moves to curb the proliferation of agencies that facilitate job seekers seeking to travel abroad. The National Employment Authority (NEA) revealed the details before the National Assembly Committee on Diaspora…
- NAIROBI, Kenya, Sep 4 – Nairobi Governor Johnson Sakaja has announced an ambitious Central Business District (CBD) revitalization program aimed at giving the city center a much-needed facelift. The announcement came during a pivotal entry audit meeting with the county executive and representatives…
- SEP 4 – UK shares dropped on Wednesday morning following falls in Asian and US markets as concerns grow about the world’s largest economy. Data showed US manufacturing activity remains subdued, with investors now focussed now on US jobs figures due on Friday. American chip giant Nvidia was hit…
- SEP 4 – Telegram has apologised to South Korean authorities for its handling of deepfake pornographic material shared via its messaging app, amid a digital sex crime epidemic in the country. It comes days after South Korean police said they had launched an investigation into Telegram, accusing it…
- SEP 4 – Telegram has apologised to South Korean authorities for its handling of deepfake pornographic material shared via its messaging app, amid a digital sex crime epidemic in the country. It comes days after South Korean police said they had launched an investigation into Telegram, accusing it…
- NAIROBI, Kenya Sept 4 – Kenya’s private sector activity improved last month for the first time since May due to the cooling of the recent anti government protests. The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) Report indicates a mild recovery in business conditions during August as the…
- NAIROBI, Kenya Sept 4 – Salaries and Remuneration Commission (SRC) Chairperson Lynn Mengich has termed the country’s wage bill as bloated, raising concerns over the current 43 percent public wage bill to revenue ratio. Mengich, who was speaking in an interview with Hot 96 on Wednesday, stated that…
- VIENNA, Sept. 4 (Xinhua) — Statistics Austria said on Wednesday that the country’s gross domestic product (GDP) contracted for the fifth consecutive quarter in the second quarter (Q2) of this year, indicating that Austria remains in a recession. The central European country’s GDP shrank by 0.6…
- NAIROBI, Kenya, Sept 4 – Food industry leaders are calling for increased adoption of innovation and technology within the hospitality sector to drive growth and enhance the customer experience. The leaders who spoke during the Expo currently underway in Nairobi emphasized the need for technological…
- By Victoria Goro SEP 4 – For aspiring creatives, there is much to be gained by building a broad range of skills and experience. This can future-proof their career and make their time in the industry more productive and rewarding. As a young person imagining a future career, it’s common to have a…
- TOKYO, Sept. 4 (Xinhua) — Tokyo stocks ended sharply lower on Wednesday, with the Nikkei index diving over 4 percent, as weaker-than-expected U.S. manufacturing data renewed fears of a U.S. economic slowdown. Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 1,638…
- NAIROBI, Kenya, September 4 – Two United Arab Emirates cities are now leading as the favorite destinations for long-term remote workers under the Nomad remote visa program. This is according to a report released by the Savills Executive Nomad Index 2024, which ranked Dubai as the number one…
- NAIROBI, Kenya, Sep 4 – Former Samburu Governor Moses Lenolkulal has filed an appeal against his conviction and sentencing in the Sh83.4 million corruption case. In his suit papers, Lenolkulal faulted the trial magistrate for not fully analysing the evidence presented by the prosecution. In the…
- SEP 4 – In the heart of a bustling region where technology and logistics often clash in inefficiencies, Jacob and Josh, seasoned leaders with rich backgrounds in manufacturing, logistics, and fintech, envision a revolutionary change. As founder and CEO, Jacob, and co-founder and CTO, Josh, team up…
- NAIROBI, Kenya, Sep 4 – Absa Bank Kenya CEO and MD Abdi Mohamed has been recognised for building the brand by the African Brand Leadership Award 2024. In the Business Leader category, Mohamed stood out for his role in building and growing an African brand. In the six months to June 30, 2024, Absa…
- NAIROBI, Kenya Sept 4 – The Public Procurement Regulatory Authority(PPRA) has urged procuring entities including suppliers, contractors ,consultants and service providers to adhere to the Public Procurement Capacity Building Levy Order, 2023 that effected on September 1 2024. According to the…
- WASHINGTON, Sept. 4 (Xinhua) — Economic activity in the U.S. manufacturing sector contracted in August for the fifth month in a row, the Institute for Supply Management (ISM) said Tuesday. The U.S. Manufacturing Purchasing Managers’ Index (PMI) stood at 47.2 percent in August, up 0.4 percentage…
- NAIROBI, Kenya, September 4 – Six successful applicants for the 2024 edition of the Creatives for our Future programme under the Swarovski Foundation will now receive £20,000 (Ksh3,378,208) to advance their innovations and career. The 2024 edition was unveiled yesterday and entries are open in the…
- NAIROBI, Kenya, Sep 4 – Safaricom is the most admired brand in Kenya, a new report has shown, highlighting the company’s leadership in mobile money, internet services, and voice and data communications. The study, which was sponsored by Capital Club and Brand Africa in partnership with Gina Din…
- NAIROBI, Kenya Sep 3 – Civil Servants have called off their strike following the announcement by Public Service Cabinet Secretary Justin Muturi to effect phase two of their negotiated pay rise by the end of this month. The Public Service Cabinet Secretary disclosed that the National Treasury will…
- NAIROBI, Kenya, Sep 3 – Businessman Joel Kibe now wants the Capital Markets Authority to protect minority shareholders at Old Mutual. In a letter to the authority, Kibe urged the regulatory body to investigate alleged breaches by the public listed company. He further urged CMA to take necessary and…
- LONDON, Sept. 4 (Xinhua) — Scottish Finance Secretary Shona Robison announced a government spending cut of 500 million pounds (655 million U.S. dollars) on Tuesday, during her speech to the Scottish Parliament at Holyrood. The savings will come from various areas, including up to 60 million pounds…
- NAIROBI, Sept. 3 (Xinhua) — The Insurance Regulatory Authority yesterday rolled out a facility to boost investments in geothermal energy projects in East Africa. IRA commissioner-general Godfrey Kiptum said that the Geothermal Risk Underwriting Facility is a comprehensive program aimed at…
- TOKYO, Sept. 3 (Xinhua) — The Japanese government said on Tuesday that it will allocate an additional 989.15 billion yen (about 6.73 billion U.S. dollars) from its fiscal 2024 reserve fund to cover energy subsidies designed to ease the burden on households. The latest decision, largely depleting…
- NAIROBI, Kenya, Sep 3 – Stanbic Bank Kenya is eyeing investors with two new money market funds with up to 15.12 percent in annual returns. They include Stanbic Money Market Fund (Kenyan shilling denominated) and Stanbic Fixed Income Fund (US Dollars). While the Money Market Fund offers a yearly…
- Nairobi, Kenya, Sept 3 – Equity Group spent Sh101.8 billion in social impact programmes in 2023, according to its 2023 sustainability report. This represents a Sh29.6 billion jump from Sh72.7 billion spent in 2022. According to the lender, the move emphasizes the group’s dedication to…
- By Professor Myriam Sidibe SEP 3 – In Africa, Sexual and Reproductive Health and Rights (SRHR) challenges exist within a complex cultural ecosystem involving family, friends, sexual partners, government, private and social sectors, all of which are sculpted by gender and social norms. These…
- NAIROBI, Kenya Sept 3 – President William Ruto has announced that Kenya has formally joined the Asian Infrastructure Investment Bank (AIIB) as a fully paid member. Speaking after meeting AIIB President and Board of Directors Chairman Jin Liqun at the bank’s headquarters in Beijing, China, Ruto said…
- NAIROBI, Kenya, Sept 3 – Kenya is gearing up for the 7th edition of the Kenya International Industrial Expo, set to take place from September 12 through to 14 at Sarit Center, Nairobi. This annual event is poised to bring together key industry players, government officials, and stakeholders from…
- ANKARA, Sept. 3 (Xinhua) — Türkiye’s inflation slowed to 51.97 percent year-on-year in August, slightly under market expectations, official data showed on Tuesday. Annual consumer inflation fell to the lowest level of the past year due to the tight monetary policy and base effects. The Consumer…
- NAIROBI, Kenya, Sep 3 – Labour and Social Protection Cabinet Secretary Alfred Mutua has reassured workers that the proposed 6 percent minimum wage increase will be implemented before the end of the year. Addressing concerns about the timeline, Mutua announced that workers could start seeing the…
- SEP 3 – It has been a recurrent theme of this US presidential campaign – has the US economy performed better under Joe Biden or Donald Trump? “By many indicators our economy is the strongest in the world,” Democratic Vice-President Kamala Harris has claimed. Trump, the Republican nominee and former…
- NAIROBI, Kenya, Sep 3 – RUBiS Energie has named Olivier Sabrié as the new CEO for East Africa and Group Managing Director of RUBiS Energy Kenya. Sabrié succeeds Jean-Christian Bergeron, who will be returning to Paris, France, for a new assignment. Bergeron has been serving in the position since…
- SEP 3 – Hong Kong’s flagship airline Cathay Pacific has cancelled tens of flights after a plane heading from the city to Zurich was forced to turn around due to an “engine component failure”. The company says it has now inspected all 48 of its Airbus A350s and found 15 aircraft with faulty parts…
- NAIROBI, Kenya, Sep 3 – The Central Bank of Kenya (CBK) has requested the Capital Markets Authority (CMA) to investigate irregular trading activities involving the National Social Security Fund (NSSF) Kenya. The trades in question took place between May and July 2024, involving the NSSF’s CSD…
